Awards for Excellence 2009: Colombia
Best Bank: Bancolombia
Bancolombia is a formidable local bank. Despite the economic slowdown and plunging peso, the bank still recorded a 49% increase in first-quarter net profits, the highest in the sector. Overall, the privately owned Colombian banking sector reported a 37% increase in first-quarter profits from a year earlier.
The country’s second-largest bank, Banco de Bogotá, posted a net profit of Ps176.2