Banco Davivienda (PFDAVVNDA) investor relations material

Executive summary

• Profitability and earnings rebounded in Q2 2026, driven by resilient margins, disciplined execution, and core business performance amid persistent inflation and high interest rates.

• Integration of BNS/Scotiabank operations in Colombia, Costa Rica, and Panama completed or progressing, expanding regional presence and scale; asset and liability transfers approved, with regulatory authorizations expected by late 2026 or early 2027.

• DaviPlata neobank platform expanded, launching a fully digital credit card, increasing clients, deposits, and transactional and lending activity.

• As of June 2026, operations span 6 countries, serving over 26 million customers with 678 branches and nearly 3,000 ATMs.

Financial highlights

• Gross loan portfolio at COP 201.1 trillion, down 0.6% QoQ due to FX, but up 1% excluding FX; YTD growth 4% ex-FX; consolidated gross loans up 20.4% YoY.

• Net profit reached COP 830 billion for Q2 and COP 1.13 trillion for H1 2026; net profit for 2Q26 also reported at COP 663 billion, up COP 380 billion from 1Q26.

• Net interest income for 2Q26 was COP 3.67 trillion, up 17.8% QoQ; NIM rose to 6.16% in 2Q26, up 49 bps QoQ.

• Cost-to-income ratio improved to 52.0% in 2Q26 from 57.7% in 1Q26; operating expenses declined due to normalization after non-recurring 1Q26 effects.

• ROE (excluding non-recurring items) at 13.62% for Q2 and 11.14% for H1; ROAE reached 13.77% in 2Q26.

Outlook and guidance

• 2026 guidance: total loan growth 4–6%, commercial/mortgage 4–6%, consumer 3–5%; NIM guidance raised to 5.8–6.1%.

• Cost-to-income ratio target improved to ~54%; full-year ROE/ROAE guidance updated to 10–11%.

• Mid-term (2028–2029) targets: cost-to-income 43–45%, ROAE 14–16%.

• Management expects continued growth in digital channels, sustainable portfolio, and regional integration benefits.