Banco Davivienda (PFDAVVNDA) investor relations material

Executive summary

• Gross loans reached COP 202.3 trillion, up 1.8% quarter-over-quarter, reflecting disciplined origination amid a challenging macro environment.

• Total assets reached COP 228.5 trillion, up 1.8% quarter-over-quarter and 20.3% year-over-year.

• Net profit for 1Q26 was COP 305 billion, impacted by the wealth tax and one-off effects; pro forma net profit excluding wealth tax was COP 585 billion with ROE at 10.72%.

• DaviPlata, the neobank, showed strong growth in deposits and digital credit, supporting diversification and engagement.

• Integration of BNS operations in Colombia, Costa Rica, and Panama expanded regional presence and scale, with synergies and integration costs expected to offset each other in 2026.

Financial highlights

• Net interest margin (NIM) including FX and derivatives stood at 5.67% on a quarterly annualized basis.

• Net interest income rose 28.8% quarter-over-quarter and 18.1% year-over-year to COP 2.68 trillion.

• Cost of risk was 2.14%, reflecting a strong credit risk profile and normalization of provision expenses.

• Cost-to-income ratio was 57.7% (55.5% excluding wealth tax); OpEx reached COP 2.6 trillion.

• Deposits increased 2.6% sequentially and 21.1% year-over-year to $46.2 billion.

Outlook and guidance

• Gross loans expected to grow 8-10% in 2026; commercial loans 10-12%, consumer 6-8%, mortgage 7-9%.

• NIM including FX and derivatives projected at 5.7%-6% by year-end.

• Cost of risk guidance at 2.1%-2.3%, with a slight increase anticipated due to inflation and wage hikes.

• ROE expected between 8%-10%, incorporating the wealth tax impact.

• Management emphasizes continued digital transformation, sustainable finance, and integration synergies.