Management Report

Management
Report
First Half 2014
Table of Contents
1. Our Bank.....................................................................................................4
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Our
Bank
We are building
a bank that
promotes social
and economic
development
opportunities
Chapter 1
We build
1. Our Bank
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VISION
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Mission, Vision and Corporate Values
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CORPORATE VALUES
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From left to right: Luis Carlos Sarmiento Gutiérrez, Luis Carlos Sarmiento Angulo.
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6
Management Report…2014 First Half
M
$IBQUFS…Our Bank
7
Corporate Governance
Banco de Bogotá, a Regional Bank
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NEW YORK
UNITED STATES
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Governing Bodies:(FOFSBM4IBSFIPMEFST´.FFUJOH
BARBADOS
12 Countries
16.2 million Customers
42,609 Employees
1,467 Branches
3,286 ATMs
COP $104.9 trillion in Assets
COP $59.7 trillion in Net Loans
COP $66.2 trillion in Deposits
COP $687 billion in Net Profits
8
Management Report…2014 First Half
M
1
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From left to right: Carlos Arcesio Paz Bautista, José Fernando Isaza Delgado, Sergio Arboleda Casas, Jorge Iván Villegas Montoya, Luis Carlos Sarmiento Gutiérrez, Alejandro
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$IBQUFS…Our Bank
9
Organizational Structure
Our Board of Directors
Banco de Bogotá
Executive Management
Primary Members
Alternate Members
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Board of Directors Advisor
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Statutory Auditing Firm
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Financial Ombudsman
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10
Management Report…2014 First Half
M
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$IBQUFS…Our Bank
11
Banco de Bogotá and its Group of Affiliates2
Banco de Bogotá and its Affiliates
Direct and Indirect Share
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President: Alejandro Figueroa Jaramillo
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President: Ernesto Castegnaro Odio
Direct
Indirect
Direct + Indirect
AFFILIATES IN
COLOMBIA
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President: Jose Elías Melo Acosta
Corficolombiana
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38.19%
President: Miguel Largacha Martínez
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Casa de Bolsa
Almaviva
22.79%
94.92%
Fiduciaria
Bogotá
38.95%
President: César Prado Villegas
Porvenir
Megalínea
36.51%
94.99%
10.40%
94.90%
46.91%
95.81%
61.74%
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FOREIGN
AFFILIATES
President: Daniel Humberto Gómez Martínez
0.88%
49.78%
AGENCIES AND
BRANCHES
ABROAD
99.56%
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President: Pedro Echeverría Manosalva
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Ficentro
(Panama)
General Manager: Adriana Cuervo Barreto
49.78%
Leasing Bogotá
Panamá
(Panama)
100%
Bogotá
Finance Corp.
(Cayman Islands)
Banco de Bogotá
Panamá
100%
100%
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General Manager: José Alberto Santana Martínez
General Manager: Alfonso García
Panama Branch
General Manager: María Fernanda Blanco Hernández
General Manager: John Kennedy
Sucursal Panamá
100%
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BAC Credomatic Inc.
(British Virgin Isles)3
99.86%
100%
Banco de Bogotá Nassau Ltd. (Bahamas)
Banco BAC de Panamá4
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All shares are ordinary
General Manager: José Alberto Santana Martínez
2
BBVA Panama and Grupo Reformador de Guatemala, entities that form part of BAC Credomatic, were purchased on December 19 and 23, 2013.
3
4
12
Management Report…2014 First Half
M
Grupo Financiero Reformador de Guatemala was acquired on December 23, 2013, through Credomatic International Corporation.
Previously BBVA Panamá.
$IBQUFS…Our Bank
13
Bank’s Main Shareholders
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UIFFDPOPNJDTPDJBMIVNBOBOEFOWJSPONFOUBMBTQFDUTUPFOTVSFUIFTVTUBJOBCJMJUZPGUIFCVTJOFTT
June 30, 2014
Other Companies
Organización
Sarmiento Angulo
67.8%
8.9%
Paz Bautista
Group
11.8%
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Others
11.5%
!e contribute to the public sector by
developing business.
!e prioritize transparency and ethics
in our business activities.
!e
generously
distribute
generated economic value.
!e offer innovative products, services
and channels.
Commitment to Ethics
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14
Management Report…2014 First Half
M
!e provide financial education to children,
youth and sectors of the population
without access to the banking system.
our
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!e continuously
customer service
system.
strengthen the
and protection
!e offer our customers
education and advice.
financial
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Corporate Social
Responsibility Policy
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!e offer our operative and
technological platform to serve
humanitarian causes.
Economic
Dimension
Objective:
To continue to grow,
generating profitability
in a sustainable and
transparent manner.
Social
Dimension
Objective:
To contribute to
sustainable
development and a
better quality of life
in our country.
!e strengthen the foundations that
support the social causes of thousands
of Colombians.
!e support Colombian art and culture.
Environmental Human
Dimension Dimension
!e promote environmental education
in our employees.
!e carry out actions to strengthen the
eco-efficiency of our infrastructure.
!e develop products and services that
contribute
to
mitigating
our
environmental impact.
Objective:
To reduce to a
minimum the
environmental impact
of our operations and
that of our employees
and customers.
Objective:
To promote the
individual and
collective
development of
our employees and
suppliers.
!e encourage a sense of solidarity
among our employees through
volunteering.
!e develop the personal and
professional qualities and skills of our
employees.
!e
foster
and
strengthen
responsible actions in our suppliers.
$IBQUFS…Our Bank
15
Contribution to the Country’s Economic Development
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Distribution of Generated Value among Our Stakeholders
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Generated, Distributed and Retained Economic Value
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JNQMFNFOUBUJPOPGPVSFYQBOTJPOQSPKFDUTJOUIFNFEJVNMPOHUFSNBOEFOTVSFCVTJOFTTDPOUJOVJUZ
January - June 2014
*OUFSFTU*ODPNF
/FU$PNNJTTJPOT
*OTVSBODF"DUJWJUJFT
100%
788
0UIFS0SEJOBSZ*ODPNF
240
$2,838
50
675
4PDJFUZ*OUFSFTU&YQFOTF
4PDJFUZ5BYFTBOE$POUSJCVUJPOT
383
369
4VQQMJFST
365
&NQMPZFFT
301
4PDJFUZ
1,058
380
365
Distribution of Generated Economic Value
(% Accumulated from January to June 2014)
Taxes and
Contributions
%JTUSJCVUFE
&DPOPNJD
7BMVF
Retained Economic
Value
$2,093
26%
3FTFSWFT
}
74%
4IBSFIPMEFST
1SPWJTJPOT%FQSFDJBUJPOTBOE"NPSUJ[BUJPOT
(FOFSBUFE
&DPOPNJD
7BMVF
13.5%
26.2%
3FUBJOFE
&DPOPNJD
7BMVF
$745
Interest
Expense
23.8%
Jan - Jun
2014
12.9%
Suppliers
13.0%
*OUFSFTUFYQFOTFTBSFEJTUSJCVUFEBTGPMMPXT%FQPTJUTBOE$VSSFOU-JBCJMJUJFT#BOL-PBOTBOE0UIFS'JOBODJBM0CMJHBUJPOTBNPOHPUIFST
5
5IFDVSSFOUTUBUVTPG(FOFSBUFE%JTUSJCVUFEBOE3FUBJOFE7BMVFXBTDBMDVMBUFEGPMMPXJOHTPNFPGUIFCBTJDBTQFDUTPGUIFNFUIPEPMPHZEFTDSJCFEGPSUIBUQVSQPTFCZUIF((3*(VJEF
5IF(MPCBM3FQPSUJOH*OJUJBUJWF(3*
JTBOPSHBOJ[BUJPODSFBUFEUPQSPNPUFBOEEFWFMPQXPSMETUBOEBSETUPNFBTVSFBOEQSFTFOUDPSQPSBUFSFQPSUT7BMVFTVTFEJOUIJTNFUIPEPMPHZBSF
HBUIFSFEGSPNUIF#BODPEF#PHPUg´T4UBOEBMPOF'JOBODJBM4UBUFNFOUT
Shareholders
10.6%
Employees
4PVSDF/PO$POTPMJEBUFE4UBUFNFOUT#BODPEF#PHPUg
16
Management Report…2014 First Half
M
$IBQUFS…Our Bank
17
In 2014, Banco de Bogotá
was recognized as Colombia's number one bank
Recognition of Our Work
Affiliates Awards and Acknowledgments
2014 First Semester
5IBOLTUPUIFDPO»EFODFPVSTIBSFIPMEFSTDMJFOUTBOEFNQMP
ZFFTQMBDFEJO#BODPEF#PHPUgCFDBVTFPGPVSTPMJESFTVMUTXF
XFSFSFDPHOJ[FEBT$PMPNCJB´TOVNCFSPOFCBOLJO
Euromoney: BAC Credomatic
“Best Bank in Central America 2014”
5IJT SFDPHOJUJPO NPUJWBUFT VT UP DPOUJOVF UP VTF PVS »OBODJBM
TFSWJDFTUPTVQQPSUBMMPVSTUBLFIPMEFSTJOUIFDPVOUSJFTXIF
SFXFPQFSBUFGBDJMJUBUJOHUIFJSHSPXUIBOEEFWFMPQNFOU
Euromoney: Banco de Bogotá,
“Best Bank in Colombia 2014”
Euromoney - Best Bank in Colombia 2014
The Banker Top 1000 - Number 1 Bank in Colombia
'PS UIF TFWFOUI UJNF UIF &OHMJTI NBHB[JOF &VSPNPOFZ BXBS
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HPUg*OJUT+VMZJTTVFUIFQVCMJDBUJPOIJHIMJHIUFEPVSDPN
QFUJUJWF QPTJUJPO JO $PMPNCJB BOE $FOUSBM "NFSJDB BMPOH XJUI
UIFFYQBOTJPOPGUIF#BODPEF#PHPUgUISPVHIBDRVJTJUJPOTPG
UIF(SVQP'JOBODJFSP3FGPSNBEPSJO(VBUFNBMB##7"1BOBNB
JO1BOBNBBOEUIF'POEPEF1FOTJPOFTZ$FTBOUrBT)PSJ[POUFJO
$PMPNCJBHBJOFEMBTUZFBS*UBMTPOPUFE»OBODJBMSFTVMUTQSJODJ
QBMMZJOUFSNTPGQSP»UBCJMJUZBTTFURVBMJUZBOEHSPXUI
The Banker: Top 1000,
Best Bank in Colombia
And our affiliate BAC Credomatic
was recognized as the Best Bank in Central America
Euromoney - Best Bank in Central America 2014
18
Management Report…2014 First Half
M
*O+VMZUIF&OHMJTIQVCMJDBUJPO&VSPNPOFZTFMFDUFE#"$BT
UIF±#FTU#BOLJO$FOUSBM"NFSJDBBOEUIF$BSJCCFBO²5IFNB
HB[JOFIJHIMJHIUFEUIFSFHJPOBMQSFTFODFPG#"$$SFEPNBUJDJO
(VBUFNBMB)POEVSBT&M4BMWBEPS/JDBSBHVB$PTUB3JDB1BOB
NBBOE.FYJDP5IF#BOL´TQSFTFODFIBTCPPTUFEUIFHSPXJOH
¼PXPGJOUFSOBUJPOBMDPNNFSDFUPUIFSFHJPO
Global Banking & Finance Review:
“Most Innovative Pension Fund in
Colombia and Latin America, 2014”
1PSWFOJSXBTBXBSEFEUIF±.PTU*OOPWBUJWF1FOTJPO'VOEJO$P
MPNCJBBOE-BUJO"NFSJDB²CZUIF#SJUJTIDPSQPSBUFQPSUBM
(MPCBM#BOLJOH'JOBODF3FWJFX5IFQPSUBMDPOTJEFSFETUSFO
HUIT JO JOWFTUNFOU TUSBUFHJFT SJTL NBOBHFNFOU BOE NBSLFU
QBSUJDJQBUJPO*UBMTPMPPLFEBUJOOPWBUJPOTJODVTUPNFSTFSWJDF
UISPVHITPDJBMOFUXPSLTTVDIBT5XJUUFS'BDFCPPLBOE:PV5VCF
BTXFMMBTTPDJBMSFTQPOTJCJMJUZNBOBHFNFOU
Corporación Publicitaria de Colombia S.A.:
“First Place in Brand Recognition and Publicity
in the Pensions and Severance Funds Category”
*OJUT+VMZJTTVFUIF&OHMJTINBHB[JOF5IF#BOLFSMPDB
UFE#BODPEF#PHPUgJOGJSTUQMBDFBNPOH$PMPNCJBOCBOLTJO
UIF±5PQ8PSME#BOLT²SBOLJOH0OUIFTBNFMJTU
#BODP EF #PHPUg XBT JO UFOUI QMBDF JO UIF SBOLJOH PG -BUJO
"NFSJDBOCBOLTBOEUIJOUIFPWFSBMMSBOLJOH
"DDPSEJOHUPB#SBOE5SBDLJOHTUVEZDPOEVDUFECZUIF$PSQPSB
DJwO1VCMJDJUBSJBEF$PMPNCJB4"1PSWFOJSNBJOUBJOFEJUT»STU
QMBDFQPTJUJPOJOCSBOESFDPHOJUJPOBOEQVCMJDJUZJOUIF1FOTJPOT
BOE 4FWFSBODF 'VOET DBUFHPSZ "T PG "QSJM PG 1PSWFOJS
PCUBJOFE BO BOOVBM CSBOESFDPHOJUJPO JOEFY PG *O UIF
DPSSFTQPOEJOHCSBOEQSFGFSFODFNFBTVSFNFOU1PSWFOJSSFNBJ
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5IJTSBUJOHUBLFTJOUPBDDPVOUUIFGJOBODJBMTUBCJMJUZBOEFRVJ
UZPGCBOLJOHFOUJUJFTXPSMEXJEF
Premios Reconoce:
“Best Contract Management”
*OUIFUXFMGUIBOOVBM±1SFNJPT3FDPOPDF²3FDPHOJUJPO"XBSET
PSHBOJ[FECZ$PEFOTBBOE&NHFTB"MNBWJWBXBTTFMFDUFEGSPN
BNPOHUIFBG»MJBUFECVTJOFTTFTGPSJUT±#FTU$POUSBDU.B
OBHFNFOU²5IJTBDIJFWFNFOUSFDPHOJ[FT"MNBWJWB´TIJHITUBO
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QPSBUFJNBHFDPOUSBDUVBMBTQFDUTBOE»OBODJBMIFBMUI
$IBQUFS…Our Bank
19
Our Ratings
5PEBUFUIF#BOL´TNBKPSJOTUSVNFOUTIBWFCFFOSBUFE*OWFTUNFOU(SBEFCZUISFFJNQPSUBOUJOUFSOBUJPOBMSBUJOHBHFODJFT.PPEZ´T
*OWFTUPST4FSWJDF'JUDI3BUJOHTBOE4UBOEBSE1PPS´T*UIBTBMTPCFFOHSBOUFEUIFIJHIFTUSBUJOHTVOEFSMPDBMTUBOEBSETCZ#3$
*OWFTUPS4FSWJDFT
International Ratings
Issuer
'PSFJHO$VSSFODZ-5
'PSFJHO$VSSFODZ45
-PDBM$VSSFODZ-5
-PDBM$VSSFODZ45
'JOBODJBM4USFOHUI
Bonds
0SEJOBSZ#POET
.BUVSJUZ
4VCPSEJOBUFE#POET
.BUVSJUZ
4VCPSEJOBUFE#POET
4VCPSEJOBUFE#POET
Outlook
4UBCMF
Baa2
1
Baa1
1
$
BBB+
F2
BBB+
F2
/FHBUJWF
Baa1
/FHBUJWF
BBB+
Baa3
/FHBUJWF
BBB
Outlook
4UBCMF
4UBCMF
Local Ratings
###
"
###
"
Outlook
4UBCMF
4UBCMF
"""
#3$
/FHBUJWF
Outlook
###
""
""
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UIFSBUJOHTGPSGPSFJHODVSSFODZPSEJOBSZCPOETXIPTFPVUMPPL
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…'JUDI3BUJOHT+VMZ
'JUDI3BUJOHTJODSFBTFEUIF#BOL´TDSFEJU
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DBGPMMPXJOHJUTNPTUSFDFOUBDRVJTJUJPOTJO(VBUFNBMBBOE1BOBNB
…*O"VHVTU4UBOEBSE1PPS´TSFBG»SNFEUIF#BOL´TDVS
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BOEJOCBOLPQFSBUJPOTBTXFMMBTJUTDPOTFSWBUJWFSJTLNBOBHF
NFOUQPMJDJFTBOEJUTBDDFTTUPMPXDPTUGVOEJOH
We support social development projects that contribute to the community. We
financed the Amarilo construction firm with COP 17,380 million for the Ciudad Verde
(Green City) project in Soacha, for a total of COP 65,930 million. This project entails
the construction of 48,000 housing units, and will ensure a better quality of life and
more opportunities for growth and progress for more than 200,000 people.
20
Soacha Ciudad Verde Project, Cundinamarca
Management Report…2014 First Half
M
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