Bancolombia S.A. (NYSE:CIB) Q1 2022 Earnings Conference Call May 12, 2022 9:00 AM ET

Company Participants

Juan Carlos Mora – President and Chief Executive Officer

Mauricio Rosillo – Corporate Vice President

Jose Humberto Acosta Martin – Chief Financial Officer

Rodrigo Prieto Uribe – Chief Risk Management Officer

Juan Pablo Espinosa – Chief Economist

Carlos Raad – Investor Relations Director

Conference Call Participants

Ernesto Gabilondo – Bank of America

Jason Mollin – Scotiabank

Olavo Arthuzo – UBS

Alonso Garcia – Credit Suisse

Andres Soto – Santander

Tito Labarta – Goldman Sachs

Yuri Fernandes – JPMorgan

Operator

Good morning, ladies and gentlemen, and welcome to Bancolombia's First-Quarter 2022 Earnings Conference Call. My name is Scha(ph), 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.

Also, 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 risks 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 target 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, Mr. Carlos Raad, 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. Mr. Juan Carlos, you may begin.

Juan Carlos Mora

Good morning and welcome to our conference call for the first quarter, 2022. Thanks for joining our call. The first quarter results were both positive and maintained the momentum shown in the second half of 2021. This performance is supported by improving NII, strong loan growth, fee income, and low provision charges. Despite uncertainty over the presidential elections in Colombia and the Russia-Ukraine conflict and the -- and its impact in disruption of the global supply chain, the Colombian economy began the year as one of the best performing economies in the region, mainly driven by the exposure to commodity prices and the domestic demand.