Grupo Aval provides COP 850 billion in funding to Pichincha

Banco Pichincha Colombia secured COP 1.27 trillion in financing from Grupo Aval and Grupo Cibest to support its growth in the local market. Entities belonging to Grupo Aval, specifically Banco de Bogotá and Banco de Occidente, provided COP 850,000 million of the total.

As part of the package, the Grupo Aval banks executed a disbursement of COP 672,700 million on September 9, 2026. The remainder of the total financing package included COP 425,000 million from Grupo Cibest disbursed by Bancolombia on September 25, backed by a collateral portfolio managed in the United States by Cibest Capital.

The transactions allowed Banco Pichincha to cancel nearly COP 1 trillion in prior debt obligations with its Ecuadorian parent company on September 9, 2026. Germán Rodríguez, president of Banco Pichincha Colombia, noted that the financing followed an annual loan portfolio growth of almost 75%, driven largely by its digital wallet Pibank.

Separately from the credit lines, Banco Pichincha Colombia reported receiving an advance of COP 13,500 million for a future capitalization and a direct capital contribution of COP 30,000 million from its parent company for 10,000 million ordinary shares.