International investors are looking at Colombia with growing confidence thanks to several political and economic improvements. Colombia’s economy has registered an average 4.3% GDP growth rate and 2.7% GDP per capita growth rate since 2000, according to World Bank figures. This has resulted in a growing middle class and a decrease in the percentage of the population...
As in most Latin American countries, financial inclusion in Colombia is a challenge. Deficiency in infrastructure and education, together with a high level of labour informality and large difficulties in accessing the vast rural areas of the country, make large parts of the population unable to participate in financial services. However, Colombia continues to take...
A coming of age is reflected in Colombia’s increasingly deep, diverse and sophisticated capital markets. Its well-established sovereign fixed-income and foreign exchange markets have been complemented in recent years by a developing derivatives market, increased domestic corporate debt issuance and a stock exchange that has taken off since the...
THE COMPANY: Pacific Rubiales Energy Corporation (PREC) is the largest independent exploration and production company in Colombia, and the second-largest oil and gas producer after Ecopetrol. With more than 12m net acres of exploration lands, it also holds the second-most important exploration portfolio...
The top six banks together account for 63.05% of all banking assets, 66.19% of all loans and 64.76% of all deposits in the system. While Bancolombia is the biggest stand-alone bank, accounting for 20.29% of all banking assets, Banco de Bogotá (ranked second by assets), Banco de Occidente (fifth), Banco Popular (sixth) and Banco AV Villas (eighth) –...
When evaluating financial regulation in Colombia, it is easy to observe that the nation has learned well the lessons from past crises – namely the earlier financial crisis of 1982 and the mortgage crisis of 1998-99. As Óscar Cabrera Izquierdo, the president of BBVA Colombia, told OBG, “Since the last financial crisis, Colombia has developed two...
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