Davivienda s corporate presentation 3 q20

1. September 2020
Corporate Presentation

2. Opción título o tema
The information hereby presented is exclusively for informative and illustrative purposes. and it is not. nor does it
pretend to be. a source for legal or financial assessment of any kind.
Both the financial assessments and forecasts presented herein are based on information and calculations carried out
internally by Davivienda. and can be subject to changes or adjustments. Any change of current circumstances can
affect the validity of the information or conclusions contained in this report.
The examples mentioned should not be taken as a guarantee for future forecasts. and are not to be assumed or
obligated. explicitly or implicitly in relation to previsions expected for the future.
Davivienda expressly discloses that it does not accept any responsibility in relation to actions or decisions taken or
not taken based on the content of this information. Davivienda does not accept any type of responsibility for losses
resulting from the execution of the proposals or recommendations presented in this document. Davivienda is not
responsible for any content originated from third parties. Davivienda may have promulgated. and can thus
promulgate in the future. information that is inconsistent with the one presented here.
These financial statements have been prepared in accordance with International Financial Reporting Standards and
are presented in nominal terms. The resulting statement for the closed quarter on September 30th. 2020 shall not
be necessarily indicative of results expected for any other period.
2

3. Content
Appendix Page
1 Macroeconomic Fundamentals 23
2 Balance Sheet and P&L 25
3
Page Page
1 About Davivienda 4 7 Digital Transformation and Daviplata 13
2 Grupo Bolívar 5 8 Wealth Management 14
3 Ownership Structure 6 9 PDL. Coverage and Cost of Risk 15
4 Sustainable Strategy 7 10 Capital Structure 17
5 History 8 11 Key Ratios 18
6 Loan Portfolio and Funding Sources 11 12 Colombia and Central America Figures 19
13 Management Team 22

4. Banco Davivienda at a glance
Main Financials¹
USD Billion Y/Y
Assets $ 36.3 16.0%
Gross Loans $ 28.9 15.0%
Deposits $ 22.8 17.9%
Equity $ 3.4 5.1%
Net Profit² 106 M -64.1%
Main Ratios
NIM 6.26%
Cost of Risk 3.22%
Efficiency 47.3%
ROAE 6.10%
PDL 2.80%
Coverage³ 224.7%
Tier I 7.93%
Total Capital Ratio 11.25%
Other Facts and Figures
Countries 6
Customers5
+16.8 M
Digital Customers 83%
Branches 680
ATMs 2.7k
Employees 17.2k
1. Consolidated figures in USD Billion under IFRS Accounting as of September 2020. Consolidation accounts for 176 USD Million.
2. Accumulated Net Profit as of September 2020.
3. Total Reserves Coverage: (Asset Allowances + Equity Reserves) / Loans > 90 days.
4. Figures as of September 30th 2020.
5. Total customers after cancelling out common individuals among segments.
Exchange rate as of September 2020: COP/USD: 3.865. Average exchange rate as of September 2020: COP/USD 3.706. Ranking as of August 2020.
Loans: $ 11.8
Customers: 6.9M
Loans: $ 11.1
Customers: 338k
Loans: $ 5.9
Customers: 1.1M
AUM: $ 16.3
Customers: 397k
Customers: +11M4
S&P Fitch Moody's
Rating BBB- BBB- Baa3
Outlook Negative Negative Negative
2
3
4

5. Honduras
El Salvador
Panamá
USA (Miami)
Colombia
Costa Rica
Our main shareholder: Grupo Bolívar
Among the most important conglomerates in Colombia.
with more than 80 years of experience.
USD 806 Million in Written Premiums4
10% of Market Share1
USD 670 Million in Sales4
Leader in Social Housing
3rd
in Written
Premiums2
1st
in Unit Sales2
1. As of June, 2020.
2. As of September, 2020.
3. As of August, 2020.
4. As of December, 2019.
USD 22.9 Billion in Gross Loans2
16.2% of Market Share3
2nd
by Gross
Loans2
InsuranceFinancial Services Construction
Consolidated Figures
Assets1
USD 41 Billion
Customers1
+16.7 million
Branches4
871
Employees1
+24 thousand
Countries1
6
5

6. Ownership Structure as of Sep 2020
76.1%²
23.9%³
1. Total Outstanding Shares: 451.670.413.
2. Ordinary Shares account for 76.1% of Total Shares (343.676.929).
3. Preferred Shares account for 23.9% of Total Shares (107.993.484).
4. Figures as of September 30th. 2020.
ORDINARY SHARES
PREFERRED SHARES
100%¹
TOTAL SHARES
6

7. Sustainable Strategy
In Davivienda. we exist to enrich life with integrity.
OUR HIGHER PURPOSE
Grupo
Bolívar
We work every day to generate prosperity. welfare and joy in people.
Davivienda adheres to:
COP 1.49 Trillion Green Financing
Rediscount Funding Lines: 496*
Green Bonds: 433*
Energy Efficiency
Sustainable Construction
Renewable Energies
Climate Change Adaptation
Eco - Vehicle
Environmental
Social
62%
Of our employees are
women
+3.9
Million
Financially included
customers
1st Colombian
Bank Member
Women SMEs
Social Housing
Sustainable
Construction
USD 705
Million
1. Including a social gender bond for $362,5 billion COP equal to 100 million USD.
*Figures in COP billion. 7
7 years
Within the Dow Jones Sustainability Index

8. The Corporation The Local Bank A Regional Banking Platform
1972
Davivienda is
incorporated
1997
Banco República
in Venezuela (sold in 2001).
Davivienda becomes a bank
2005 2006
2007
Bancafé. Fiducafé. Bancafé
International. Bancafé Panamá
2012
2013
2016
A bank with proven growth record
1994
Market Share²: 3.8%
Sep. 2020
Market Share²: 13.9%
Customers3
: +16.8M
Assets $ 36.3¹
Y/Y 16.0%
1. Consolidated figures in USD Billion under IFRS Accounting as of September 2020.
2. Market share by assets in Colombia as of August 2020.
3. Customers as of September 2020.
Exchange rate as of September 2020: COP/USD: 3.865.
2010 - 2011
USD $104M IPO
and USD $176M follow-on
2011
2019
8

9. A Diversified Loan Portfolio¹
2004 Sep. 2020
Y/Y
Commercial 15.5%
Consumer 16.2%
Mortgage 12.6%
Total 15.0%
1. Consolidated Gross Loans
Figures in USD Billion
Exchange rate as of September 2020: COP/USD: 3.865.
USD Billion
Y/Y
Colombia COP 12.9%
International USD 13.9%
Colombia USD 45.4%
$28.9
$28.9$1.3
$1.3
9

10. Mortgage Loans Consumer Loans
Commercial Loans
A portfolio focused on strategic segments and products
Figures in USD Billion.
Exchange rate as of September 2020: COP/USD 3.865.
USD Billion
$6.6 $8.0
$14.2
3%
10

11. Accumulated Portfolio Securitization³
Stable and diversified funding sources
Loans / Deposits 123.8% 125.2% 130.7% 128.9% 126.7%
Loans / Funding Sources 94.2% 92.9% 97.2% 95.9% 94.7%
Consolidated Figures in USD Billion under IFRS accounting as of September 2020.
CAGR: Compound Annual Growth Rate.
1.Price as of September 30th. 2020
2.Nominal amount: $1.47 trillion COP
3.Figures from Titularizadora Colombiana
Exchange rate as of September 2020: COP/USD: 3.865.
USD Billion
International Issuances
Amount
Issued
Coupon Maturity Price¹
Yield to
Maturity
Senior Notes
(Global COP)
380M USD² 7.50% 2022 106.01 4.33%
Subordinated Notes 500M USD 5.88% 2022 106.25 2.53%
USD Million
11

12. CreditsRELIABLE
FRIENDLY
SIMPLE
Employees and retirees
Consumer Loans
Guaranteed Consumer Loans
Payroll Account
Savings Account
Vehicle*
Technology
Life
Mortgage
Vehicle
Balance Transfer
Credit card
eCard
Term Deposits
Mutual Funds
Investment Funds
Economic Reactivation
Connecting people and businesses
Reaching informal sector
Digital transactions through DaviPlata
Alliances with mass consumption businesses
SMEsCustomers
Davivienda digital loans - FNG guaranteed
Digital Transformation of our Traditional Business
Clientes
Insurances
Deposits
Payment Methods
Investments
Digital Customers
12
89%
CR
77%
PN
41%
SV
34%
HN
86%
COL
83%
CONS
*Compulsory Third Party Insurance.

13. 3. Figures in million. Colombia operation. Digital customers include retail. commercial. Daviplata and
Colombian subsidiaries.
4. Figures in millions. Colombia operation. Accumulated monetary transactions from January to September.
5. Figures in thousands. Colombia operation.Product sales by number of sold products.
46%
Of total product sales are made
through digital channels
Digital banking in numbers
1. Digital deposits include savings accounts and term deposits.
2. Digital loans include payroll loans. personal loans.credit cards and payroll advance.
Graph bars: Balance in USD Million. Graph lines: Number of products.
Exchange rate as of September 2020: COP/USD: 3.865.
Total Deposits¹ Total Loans²
37%
Transactions made through
Digital Channels
Digital Transactions⁴
117.5 Million | Y/Y 43% 754 Thousand | Y/Y -25%
Product Sales5
86%
Active customers using
Davivienda’s Digital Platforms
13.5 Million | Y/Y 60%
Digital Customers³
Sep-19 Jun-20 Sep-20
13
Sep-19 Jun-20 Sep-20

14. Daviplata, our Native Digital Bank
Shops: QR Payment
Ecommerce: DaviPlata
+ 1.1M
100% Digital customers
+3.9 M Financially-included customers2
+21.9K Companies
+13K Correspondents
536 M Transactions3
Enabling access to banking services in Colombia
Recognized as an Innovation Case by:
Other services: Daviplata El Salvador4
Transfer money¹ Pay bills
Top-up airtime Receive remittances
Withdraw money Insurances
Mobile
Products
Platform
The Little Red House Key
Transfer money to DaviPlata
Split the bill
Collect money
Top-up airtime
Local money order
Social
Networks
Payment
Method
SIM
APP
1. To DaviPlata. to Davivienda’s accounts and other banks.
2. Figure as of September 2020.
3. 2020 accumulated monetary transactions.
4. Launched on November 22nd
. 2018.
Sep-19 Jun-20 Sep-20
75%
10%
Daviplata Customers
+618K
14
Alliances

15. Wealth Management
• The wealth management division has USD$16.2 billion in
assets under management and over 395 thousand
customers.
• Davivienda Corredores has more than USD$7.4 billion in
assets under management.
Exchange rate as of September 2020: COP/USD: 3.865.
USD Billion
Investment Funds
Voluntary Pension Funds
Securities brokerage.
investment funds. research and
investment banking services
International Investments
An entire Organization at the service of our wealth management customers $14.7 $16.2
11.0%
14.4%
58.2%
-23.3%
Y/Y
15

16. PDL and Loans by Stages (%)
Main Ratios - Consolidated
Cost of Risk4
Ratio 3Q19 3Q20 3Q20
12M 2.45% 2.83% 3.22%
3M Annualized 2.73% 3.58% 4.13%
Loans by Stages
1. PDL: Loans > 90 days / Gross Loans
2. Mortgage >120 days / Gross Loans
3. Total (120) includes: (Mortgage > 120 days + Commercial > 90 days + Consumer >90 days) / Gross Loans
4. Cost of risk (12 Months) = Provision Expenses (12 months) / Gross Loans
Cost of risk (Annualized Quarter) = (Provision Expenses (Quarter)) / Gross loans) x 4 16
3Q20
Stage 1 Stage 2 Stage 3
.
1Q20 2Q204Q19PDL1
> 90 days
Portfolio 4Q19 1Q20 2Q20 3Q20
Commercial 4.04% 3.81% 3.77% 3.65%
Consumer 2.04% 2.07% 0.75% 0.75%
Mortgage 4.07% 4.41% 4.07% 3.47%
Total 3.46% 3.45% 3.00% 2.80%
PDL1
> 30 days
Portfolio 4Q19 1Q20 2Q20 3Q20
Commercial 5.02% 4.88% 4.19% 4.88%
Consumer 5.14% 2.87% 1.22% 5.43%
Mortgage 9.04% 5.71% 4.73% 4.70%
Total 6.02% 4.50% 3.48% 4.91%
3Q201Q20 2Q204Q19
Coverage by Stages

17. 3. Asset Allowances / Gross Loans
4. Asset Allowances + Equity Allowances / Gross Loans
1. Coverage: Asset Allowances / Loans > 90 days
2. Total Reserves Coverage: (Asset Allowances + Equity Allowances) / Loans > 90 days
Coverage (%)
14
Main Ratios - Consolidated
817
Coverage1
Portfolio 3Q19 2Q20 3Q20
Commercial 119.9% 128.2% 156.5%
Consumer 268.3% 821.3% 1.050.7%
Mortgage 39.2% 55.6% 64.3%
Total 123.8% 154.1% 197.0%
Total Reserves Coverage2
Portfolio 3Q19 2Q20 3Q20
Commercial 130.5% 150.0% 164.4%
Consumer 296.8% 966.5% 1.252.5%
Mortgage 67.7% 74.8% 91.0%
Total 141.7% 183.7% 224.7%
Loan Loss Reserves / Gross Loans3
Portfolio 3Q19 2Q20 3Q20
Commercial 5.5% 4.8% 5.7%
Consumer 6.0% 6.2% 7.9%
Mortgage 1.6% 2.3% 2.2%
Total 4.7% 4.6% 5.5%
Total Reserves / Gross Loans4
Portfolio 3Q19 2Q20 3Q20
Commercial 6.0% 5.7% 6.0%
Consumer 6.7% 7.3% 9.4%
Mortgage 2.7% 3.0% 3.2%
Total 5.4% 5.5% 6.3%

18. Aug. 2018 Issuance of new capital requirement standard
Aug. 2019 Dec. 1421 - VaR Operational Risk
Sep. 2019
Issuance of detailed estimation instructions by the
Superintendence of Finance
Jul. 2020
Issuance of detailed instructions for Operational Risk by
the Superintendence of Finance
Jan. 2021 Reporting under new standard
Jan. 2021
Jan. 2024
Phase-in period to comply with new requirements
Capital Structure
Capital Adequacy Ratio Equity
USD Billion
New Capital Requirements Phase-in Period (Revised)*
Sep. 19 Jun. 20 Sep.20
Current New
MinimumRequirement
Sep.20/Jun.20 0.9%Sep.20/Sep.19 5.1%
18
Sep. 19 Jun. 20 Sep.20

19. Key Ratios - Consolidated
Fee ratio = Fees / (Interest Income + Fees)
Efficiency = Operation Expenses without Goodwill / (gross financial margin
+ Operation Income + other income and expenses. net))
ROAE = Net Profit (12 months) / Average Equity (5 periods)
ROAA = Net Profit (12 months) / Average Assets (5 periods)
NIM = Net Interest Income (12 months) / Average earning Assets (5 periods)
NIM
Efficiency
19
Fee Ratio
ROAA & ROAE

20. A leading banking institution in Colombia
1.Includes Daviplata & wealth management customers
2.Includes securitized loans
3.Accumulated net profit
Source: Superintendencia Financiera de Colombia
Individual Figures in USD Billion under local IFRS accounting as of September 2020. Ranking & Market Share as of August 2020.
Exchange rate as of September 2020: COP/USD: 3.865. Average exchange rate as of September 2020: COP/USD 3.706.
USD Billion September 2020 Y/Y Ranking Market Share
Assets 27.4 15.1% 3 13.9%
Gross Loans 22.9 15.3% 2 16.5%
Commercial 11.1 17.2% 3 14.3%
Consumer 6.5 15.3% 2 15.7%
Mortgage² 5.3 11.4% 1 25.0%
Deposits 17.0 17.3% 2 13.5%
Bonds 3.0 3.8% 2 20.9%
Equity 2.5 0.4% 3 11.2%
Net Profit3
0.1 -80.2% 6 6.7%
Customers¹ +15.8 Million
Branches 528
ATMs 2.2 Thousand
Banking correspondents +13 Thousand
Employees 12.3 Thousand
Presence through branches and banking correspondents
Presence through banking correspondents only
20

21. El Salvador
Sep. 20 Δ Y/Y
Market
Share
Ranking
2,964 9.8% 15% 3
2,037 5.7% 16% 3
886 3.3% 15% 2
790 7.3% 18% 4
361 8.6% 14% 3
1,142 24.9% 14% 4
331 -3.1% 14% 3
20 -9.1% 11% 4
Honduras
El Salvador
Panamá
Costa Rica
Our operations in Central America
1.Figures under IFRS accounting.
2.Accumulated net profit.
3.Market share and ranking for banks in the local market.
Exchange rate as of September 2020: US$ 1 / HNL$ 24.44; CRC$ 607.93.
Figures in USD Million.
Customers +1.1million
Branches 135
ATMs 496
Employees +4 thousand
Panamá
Sep. 20 Δ Y/Y
1,438 -5.4%
795 -15.0%
633 -19.8%
38 1.2%
124 15.2%
422 27.7%
190 4.8%
5 -54.2%
Honduras
Sep. 20 Δ Y/Y
Market
Share
Ranking
1,404 7.2% 6% 6
1,012 7.5% 7% 6
397 1.9% 4% 7
356 16.6% 13% 4
259 4.9% 13% 4
631 15.5% 6% 6
168 0.2% 6% 6
9 -47.2% 5% 6
USD Million3
Assets
Gross Loans
Commercial
Consumer
Mortgage
Deposits
Equity
Net Profit2
Costa Rica
Sep. 20 Δ Y/Y
Market
Share
Ranking
3,296 8.0% 7% 6
2,094 5.0% 7% 6
1,161 6.9% 9% 6
347 3.1% 5% 7
586 2.6% 7% 6
914 38.4% 5% 6
342 1.4% 5% 6
24 254% 5% 7
Total Central America¹
USD Million Sep. 20 Y/Y
Assets 9,099 6.0%
Gross Loans 5,938 2.4%
Commercial 3,077 -1.4%
Consumer 1,531 8.1%
Mortgage 1,330 5.7%
Deposits 5,803 7.7%
Equity 1,038 0.4%
Net Profit2
57.3 2.8%
21

22. Board of Directors and Corporate Governance Committees
Carlos Arango. Chairman
Alternate: Roberto Holguín
Álvaro Peláez
Alternate: Federico Salazar
Diego Molano
Alternate: Ana M. López
Javier Suárez
Alternate: Olga Martínez
Andrés Flórez
Alternate: Daniel Cortés
Directors displayed correspond to principal and alternate members
Audit Committee
⚫ Supports BoD in supervising effectiveness of internal controls
⚫ Composed of three directors. one of whom must be a financial expert
⚫ Reviews financial audited statements prior submission to the BoD
Compensation Committee
⚫ Serves the BoD as an advisor with no executive powers
⚫ Establishes guidelines for executive compensation
⚫ Composed of three members. two of which must be independent and are appointed by
Grupo Bolivar board
Corporate Risk Committee
⚫ Defines risk management guidelines and informs the BoD and senior management of the
corporate risks affecting the Company and its subsidiaries
⚫ Works alongside several executive risk committees specialized in specific risks as credit.
market and liquidity. operational and fraud risk committees among others
Corporate Governance Committee
⚫ Provides assistance in the implementation of corporate governance and compliance best
practices and policies
⚫ Composed of three members. one of whom must be a BoD member
Independent member
Sustainability Committee
⚫ Proposes and reviews policies and procedures in terms of sustainability. with the objective
to guarantee accomplishment of international standards and internal goals
⚫ Made up of four members. one of whom must be a BoD member
22

23. Experienced Management Team
⚫ CEO since 1990
⚫ Holds a Bachelor degree in Industrial Engineering from
Universidad Javeriana and an M.S. from University of Michigan
⚫ Has over 31 years of experience in the financial sector
⚫ Bachelor’s degree in Computer Science from U.
Piloto de Colombia and a specialization in Finance
from Universidad de los Andes
⚫ Over 30 years of experience in the financial sector
⚫ Bachelor’s degree in Economics and a specialization
in Finance from U. del Rosario
⚫ Over 29 years of experience in the financial sector
⚫ Bachelor’s degree in industrial engineering
from Universidad Javeriana and a
specialization in Finance from Universidad
de los Andes
⚫ Over 23 years of experience in the financial
sector and 16 within Davivienda
⚫ Bachelor’s degree in Civil Engineering and
Electronics from Universidad Técnica Federico
Santa María de Chile
⚫ Over 28 years of experience in the financial
sector
⚫ Bachelor’s degree in Industrial Engineering
and Specialization in Finance from
Universidad de los Andes and a masters
from INALDE
⚫ Over 17 years of experience in the financial
sector
⚫ Bachelor’s degree in business administration
from EAFIT University. specialization in Top
management from INALDE business school and a
Masters in International Business from Western
Sydney University
⚫ Over 30 years of experience in the financial
sector.
Efraín Forero.
Chief Executive Officer
Ricardo León.
Executive VP. Risk
Álvaro Carrillo.
Executive VP. Corporate Banking
Maritza Pérez.
Executive VP. Retail banking & Marketing
Patricio Melo.
Executive VP. Technology
Pedro Uribe.
Executive VP. International Operations
Jaime Castañeda.
VP. Treasury and International Business
⚫ Bachelor’s degree in Psychology from
Universidad de los Andes and an MBA from
Universidad Pontificia Comillas de Madrid.
⚫ Over 17 years of experience in Human
Resources
Martha Echeverry.
Executive VP. Human Resources
23
⚫ Industrial Engineer from Universidad
Javeriana, with a specialization in Finance
from Universidad EAFIT-CESA INCOLDA, and
Senior Management Program from
PADE-INALDE.
⚫ Over 27 years of experience in the financial
sector
Jorge Rojas.
Executive VP. Commercial Banking

24. Macroeconomic Fundamentals Colombia
Appendix 1
Exchange Rate and Oil Prices
Monetary Policy Rate and Inflation
Gross Domestic Product (Y/Y)
Source: National Administrative Department of Statistics(DANE)
** Two-month average
Source: Financial Superintendence of Colombia and FED St. Louis FRED.
Source: National Administrative Department of Statistics (DANE) and Colombia
Central Bank. Monetary Policy Rate as of september 2020 24
Davivienda Confidence Index

25. Macroeconomic Fundamentals Central America
Appendix 1
GDP (Y/Y)
Monetary Policy RateExchange Rate
Inflation (Y/Y)
25Source: Central Banks. 25

26. USD Million September 2019 June 2020 September 2020 $ Q/Q Q/Q $ Y/Y Y/Y
ASSETS
Cash and interbank funds 2,495 3,535 2,845 -690 -19.5% 351 14.1%
Investments 3,216 4,169 4,205 37 0.9% 990 30.8%
Loans 23,908 27,030 27,261 231 0.9% 3,353 14.0%
Commercial 12,302 14,009 14,212 203 1.5% 1,911 15.5%
Consumer 6,891 7,879 8,007 128 1.6% 1,116 16.2%
Mortgage 5,890 6,446 6,632 186 2.9% 742 12.6%
Allowances -1,183 -1,309 -1,594 -285 21.8% -411 34.8%
Goodwill 423 423 423 0 0.0% 0 0.0%
Other assets 1,269 1,617 1,596 -21 -1.3% 328 25.8%
Total assets 31,310 36,774 36,331 -442 -1.2% 5,021 16.0%
LIABILITIES
Deposits 19,538 22,995 22,936 -59 -0.3% 3,398 17.4%
Saving accounts 7,674 9,839 10,267 428 4.4% 2,593 33.8%
Checking accounts 2,341 3,595 3,215 -380 -10.6% 873 37.3%
Term deposits 9,313 9,410 9,300 -109 -1.2% -13 -0.1%
Other 210 152 154 2 1.4% -56 -26.7%
Bonds 3,299 3,417 3,477 60 1.8% 177 5.4%
Local 2,432 2,394 2,492 97 4.1% 59 2.4%
International 867 1,023 985 -37 -3.7% 118 13.6%
Credits from entities 3,361 4,594 4,198 -396 -8.6% 837 24.9%
Other liabilities 1,908 2,430 2,355 -75 -3.1% 447 23.4%
Total liabilities 28,106 33,436 32,965 -471 -1.4% 4,859 17.3%
EQUITY
Total stockholders' equity 3,204 3,338 3,366 28 0.9% 163 5.1%
Total liabilities & stockholders equity 31,310 36,774 36,331 -442 -1.2% 5,021 16.0%
Consolidated Balance Sheet
Figures in USD Million. All figures converted to USD at the exchange rate as of September 2020: COP/USD:3,865.
Appendix 2

27. 3Q19 2Q20 3Q20 $ Q/Q Q/Q $ Y/Y Y/Y
Acum
3Q19
Acum
3Q20
$ Y/Y Y/Y
Total income 733 822 761 -61 -7.4% 28 3.8% 2,152 2,343 191 8.9%
Loans 673 734 693 -41 -5.6% 20 3.0% 1,955 2,154 199 10.2%
Commercial 272 284 272 -12 -4.3% 0 0.0% 770 822 52 6.7%
Consumer 245 278 266 -13 -4.5% 21 8.5% 702 832 129 18.4%
Mortgage 156 172 156 -16 -9.4% 0 -0.2% 481 499 18 3.8%
Investment 53 82 63 -19 -22.6% 11 20.4% 174 169 -5 -2.7%
Overnight 8 6 5 -2 -30.0% -3 -40.2% 22 19 -3 -13.8%
Financial expenses 281 290 250 -39 -13.6% -30 -10.8% 805 827 22 2.7%
Demand deposits 55 65 52 -13 -19.4% -2 -4.3% 160 180 21 12.9%
Term deposits 120 110 98 -12 -11.3% -22 -18.6% 335 323 -12 -3.5%
Credits with entities 39 45 34 -10 -23.3% -5 -12.7% 117 119 2 2.0%
Bonds 54 59 55 -5 -7.9% 1 1.2% 156 173 17 10.7%
Repos 13 11 11 1 7.7% -1 -10.0% 38 32 -6 -16.2%
Gross financial margin 452 532 510 -22 -4.1% 58 12.8% 1,346 1,516 169 12.6%
Net allowances 179 264 311 47 17.6% 132 74.0% 502 814 311 62.0%
Net interest margin 274 268 200 -68 -25.5% -74 -27.1% 844 702 -142 -16.8%
Operating income 90 75 85 9 12.3% -5 -5.8% 267 244 -22 -8.3%
Operating expenses 252 280 277 -3 -1.2% 25 10.1% 726 822 96 13.2%
Exchange and derivatives 12 -24 10 34 -140.4% -3 -20.6% 9 21 13 149.4%
Other income and expenses, net 1 -5 3 8 -151.3% 2 140.9% 2 -7 -9 -521.0%
Income before taxes and minority interest 125 33 20 -14 -41.3% -106 -84.3% 394 138 -256 -64.9%
Taxes 32 1 7 6 955.6% -26 -79.4% 98 32 -66 -67.3%
Net Profit 93 33 13 -20 -60.5% -80 -86.0% 297 106 -190 -64.1%
Consolidated P&L
Figures in USD Million. All figures converted to USD at the average exchange rate as of September 2020: COP/USD 3,706.
Appendix 2
27

28. Visit us at ir.davivienda.com
Investor Relations and Capital Management
ir@davivienda.com
+ (57 1) 220 3495
www.davivienda.com
Bogotá - Colombia