Top List of Banks in Colombia
Colombia is the third-largest economy in Latin America and the 17th largest globally. The country's GDP (Gross Domestic Product) accounts for approximately 45% of the Latin American GDP. In the last few years, Colombia has emerged as one of the fastest-growing economies in the region, thanks to its booming trade in commodities, such as petroleum and coal.
Banks are essential for any country's economy because they provide people with a secure place to store their money and help entrepreneurs access capital to start new businesses. When it comes to banking, Colombia has various options for consumers. Here are some of the top banks in Colombia:
Bancolombia
Bancolombia is one of Colombia and Latin America; it is a full-service financial group that offers universal products and services for individuals, businesses, and corporations. Bancolombia's total assets are around 4.8 billion USD and employ over 31,900 people worldwide.
Bancolombia's business lines include Retail Banking; Wholesale Banking; Treasury; Financial Advisory; Capital Markets; Asset Management; Insurance; Brokerage, and Pension Funds. In 2017 Bancolombia ranked first on the Brand Finance Bank report for Latin America and first on the Latin Trade magazine ranking of "The Best Companies to Work For" in Colombia.
Banco de Bogotá
Banco de Bogotá is the oldest bank in Colombia, tracing its roots to 1875. The bank has a broad network of correspondent banks worldwide and is committed to serving its customers through the latest technology available. Banco de Bogotá is Colombia's most influential financial group with total assets over US$37.4 billion(2012), and currently, Banco de Bogotá has over 9,926 employees.
Banco de Bogotá offers a wide range of banking services, including corporate banking, retail banking, investment banking, credit card and debit card services, trust services, and asset management.
Banco Davivienda
Banco Davivienda, S.A. is a Colombian bank and financial services company headquartered in Bogotá, Colombia. The bank operates domestic branches, international branches, and subsidiaries throughout Latin America and the United States, offering corporate banking and investment banking services for Colombian and foreign companies and retail banking, leasing, brokerage services, and asset management to individuals.
Davivienda has over $37.7 billion as of 2017 in assets and is the second-largest financial conglomerate in Colombia after Bancolombia, and it employs over 10,683 people.
Banco Popular
Banco Popular is the third-largest private bank in Colombia, founded in 1895. Banco Popular has total assets of over US$ 38.66 billion, more than 7,828 employees, and an extensive network of branches throughout Colombia with a presence in Chile, Panama, and Mexico.
Banco Popular offers a wide range of financial services, including investment banking, capital markets, treasury, and cash management services to local and international companies and individuals.
Citibank
Citibank is a multinational bank with 2.26 trillion USD in assets, 12 million customers, and 210,000 employees. It has four main business lines: Citibank (consumer banking), Citi Cards, Citi Markets and Banking (capital markets), and Global Wealth Management.
Citibank Colombia is one of the leading banks in the country with a full-service offer for companies and individuals: Credit Cards, Consumer Loans, Mortgage loans, SME Banking services, and Corporate Banking services.
BBVA Colombia
In Colombia, BBVA Banco Bilbao Vizcaya Argentaria S.A. operates through a subsidiary, BBVA Colombia S.A., offering comprehensive financial services to individuals and businesses with a full range of products and services through multiple distribution channels: branches, ATMs, telephone banking, online banking, and mobile banking.
BBVA Colombia is the fourth largest bank in the country in terms of total assets at US$ 72.52 Billion and more than 5,137 employees.
Banco de Occidente
Banco de Occidente is a Colombian bank. It was founded in 1972 and today belongs to the Grupo Aval financial group of Luis Carlos Sarmiento Angulo. As of 2016, it had total assets of 2.88 billion U.S. dollars, and it has 6,828 employees.
Banco de Occidente offers a wide range of financial products and services, including current accounts, deposits, consumer loans, mortgage loans, credit cards, online banking, and mobile banking. The bank also offers banknotes exchange and other related services.
Banco AV Villas
Banco AV Villas, an entity of the Grupo Aval Acciones y Valores, is a Colombian financial services company that offers a variety of banking products and financial products and services.
The bank has more than 2.7 million customers 1.3 million active users of its online banking services. As of December 31, 2016, Banco AV Villas had total assets of $16.1 Billion and had close to 4,787 employees. The bank's headquarters are located in Bogota.
Bancoomeva
Bancoomeva is a Colombian bank that provides credit cards, loans, savings, and mortgages. It also offers accounts for companies and individuals. Bancoomeva is the result of the merger of Banco Comercial Antioqueño and Banco Interamericano de Finanzas in 2001. The bank has total assets of US$ 1.4 billion and 1200 employees in Colombia.
Heliconia Bank
Heliconia Bank is a financial services company headquartered in Bogotá, Colombia. Heliconia Bank has been recognized as one of the most important companies in the country.
In total, Heliconia Bank operates in 9 countries and had total assets of US$4.1 billion (COP 12,700 billion) as of December 2015. It employs more than 40,000 people and has more than 22 million customers. On July 19th, 2016, it was announced that GBM Group would acquire Heliconia Bank for 6 Billion dollars to create a 'super-bank' in Latin America's 5th largest economy.
Finandina
Finandina comprises seven companies that provide, through their subsidiaries and branches, services related to banking, insurance, financial brokerage, and asset management for individuals, small- and medium-sized enterprises, and large companies. Total assets for Finandina, S.A. in Colombia were $4,971,000 as of December 31, 2015, with 201 employees.
Caja Social
The Caja Social of Colombia is a banking institution that offers its services through a network of agencies and offices. It provides financial assistance to individuals, businesses, and professionals. The bank offers personal loans, credit cards, mortgages, banking accounts, investment products, insurance products, banking services for professionals and business owners.
It also provides savings accounts, term deposits, and investments in guaranteed securities. Furthermore, the institution offers certificates of deposit (CDs) and stock trading services.
The bank’s total assets amounted to around $ 10.2 billion. The Caja Social employs nearly 6,593 people.
FAQs
Q. What is the biggest bank in Colombia?
A. Bancolombia is the biggest bank in Latin America. More than 70% of Colombians have an account with Bancolombia, and it controls almost one-third of the country's banking assets. But its history goes back to 1875 when the Colombian government created Banco Nacional.
