Banco Davivienda (PFDAVVNDA) Q4 2025 earnings summary

Executive summary

• Completed integration of Scotiabank/BNS operations in Colombia, Costa Rica, and Panama, expanding regional presence and launching Davivienda Group as a regional holding company.

• Share issuance process achieved 95.5% acceptance, consolidating 98.9% ownership of Banco Davivienda and granting Scotiabank a 20.3% stake in the group.

• DaviPlata consolidated as a neobank, reaching 19.4 million customers, with rapid credit portfolio expansion and 21% YoY growth in transaction volumes.

• Operates in six countries, serving over 26 million customers with 678 branches and 3,000 ATMs.

• Integration resulted in a 35% increase in assets and liabilities, with total assets reaching COP 264 trillion and equity at COP 22 trillion.

Financial highlights

• Total assets reached $59.8 billion (COP 224.5 trillion), up 17.3% year-over-year, with gross loans at $45.5 billion (COP 170.8 trillion), up 17.4% year-over-year.

• Net profit for 2025 was $398.6 million (COP 1.61 trillion), with ROAE at 9.58%.

• Gross loans grew 6% YoY (FX neutral), with mortgages up 12%, commercial loans up 5%, and consumer loans up 2%.

• NIM (including FX and derivatives) closed at 5.74%, and cost of risk improved to 1.94% for 2025.

• Fee income grew 10% YoY, while operating expenses rose 5.8% YoY, slightly above guidance.

Outlook and guidance

• For 2026, gross loan portfolio expected to grow 8%-10%; commercial lending 9.5%-11.5%; consumer and mortgage 6%-8%.

• 90-day PDL ratio expected at 3.3%-3.8% with coverage around 110%.

• NIM guidance at 5.7%-6%; cost of risk at 2.1%-2.3%; non-financial income to grow 8%-10%.

• Focus on operational integration, digital transformation, and sustainable finance, targeting $29.3 billion in sustainable portfolio by 2030.

• Medium-term normalized cost of risk expected at 1.8%-2%.