Bancolombia S.A. (NYSE:CIB) Q3 2022 Earnings Conference Call November 16, 2022 8:00 AM ET

Company Participants

Juan Carlos Mora – Chief Executive Officer

Juan Pablo Espinosa – Chief Economist

Jose Humberto Acosta – Chief Financial Officer

Conference Call Participants

Jason Mollin – Scotiabank

Andres Soto – Santander

Ernesto Gabilondo – Bank of America

Tito Labarta – Goldman Sachs

Carlos Gomez – HSBC

Julian Ausique – Davivienda

Yuri Fernandes – JPMorgan

Alonso Garcia – Credit Suisse

Operator

Good morning, ladies and gentlemen and welcome to Bancolombia's Third Quarter 2022 Earnings Conference Call. My name is Ariel and I will be your operator for today's call. At this time, all participants are in a listen-only mode. Following the prepared remarks, there will be a question-and-answer session. [Operator Instructions] Please note that this conference is being recorded.

Please note that this conference call will include forward-looking statements including statements related to our future performance, capital position, credit-related expenses and credit losses. All forward-looking statements, whether made in this conference call in future filings, in press releases or verbally, address matters that involve risk and uncertainty. Consequently, there are factors that could cause actual results to differ materially from those indicated in such statements, including changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products by other companies, lack of acceptance of new products or services by our targeted clients, changes in business strategy and various other factors that we describe in our reports filed with the SEC.

With us today is Mr. Juan Carlos Mora, Chief Executive Officer; Mr. Mauricio Rosillo, Chief Corporate Officer; Mr. Jose Humberto Acosta, Chief Financial Officer; Mr. Rodrigo Prieto, Chief Risk Officer; Mrs. Catalina Dilone [ph], Investor Relations Director and Mr. Juan Pablo Espinosa, Chief Economist.

I will now turn the call over to Mr. Juan Carlos Mora, Chief Executive Officer. Juan Carlos, you may begin.

Juan Carlos Mora

Good morning, everybody. Welcome to Bancolombia's third quarter conference call. In this quarter, we reported COP 1.6 trillion of net income. We are having a responsible growth across all segments, increasing revenue and producing positive operating leverage. The asset quality metrics of the bank remains strong compelling and effective origination strategy. The countries in which we operate present a good performance, especially Columbia, which may grow at a rate of above 7% in 2022 and has contributed to the rapid expansion of the bank’s portfolio during the year.