Exhibit 12.1
Selected Ratios
For the three month period then ended | ||||||||||||||||||||||||||||||||||
For the year ended December 31, | March 31, | |||||||||||||||||||||||||||||||||
EXHIBIT 12. SELECTED RATIOS' CALCULATION | INDEX | 2010 | 2009 | 2008 | 2007 | 2006 | 2010 | 2011 | 2011 | |||||||||||||||||||||||||
(in millions of Ps and thousands of US$) | ||||||||||||||||||||||||||||||||||
Net interest income | (1) | 3,377,104 | 3,802,282 | 3,560,402 | 2,808,318 | 1,767,503 | 817,512 | 893,891 | 477,863 | |||||||||||||||||||||||||
Total Interest Earning Assets | (2) | 53,096,650 | 52,686,295 | 46,583,698 | 36,994,871 | 28,532,355 | 52,016,485 | 54,975,437 | 29,389,200 | |||||||||||||||||||||||||
Total Average Assets | (3) | 63,355,081 | 62,629,596 | 55,121,514 | 43,194,923 | 32,437,287 | 62,077,389 | 65,325,325 | 34,922,124 | |||||||||||||||||||||||||
Total Average Shareholders’ Equity | (4) | 7,287,936 | 6,416,312 | 5,450,543 | 4,160,130 | 3,392,142 | 6,582,539 | 7,491,652 | 4,004,946 | |||||||||||||||||||||||||
Operating Expenses | (5) | 3,098,479 | 2,895,145 | 2,639,997 | 2,271,418 | 1,871,000 | 745,996 | 856,006 | 457,610 | |||||||||||||||||||||||||
Net Income | (6) | 1,436,494 | 1,256,850 | 1,290,643 | 1,086,923 | 749,529 | 340,984 | 350,083 | 187,150 | |||||||||||||||||||||||||
Total Assets | (7) | 68,095,156 | 61,864,365 | 61,783,079 | 52,151,649 | 34,488,696 | 60,770,582 | 71,182,466 | 38,053,280 | |||||||||||||||||||||||||
Net Operating, Income | (8) | 5,505,029 | 5,689,231 | 5,524,486 | 4,318,447 | 2,906,597 | 1,333,932 | 1,390,459 | 743,322 | |||||||||||||||||||||||||
Total Shareholders’ Equity | (9) | 7,947,140 | 7,032,829 | 6,116,845 | 5,199,270 | 3,646,612 | 6,802,249 | 7,714,097 | 4,123,862 | |||||||||||||||||||||||||
Loans | (10) | 48,601,090 | 42,041,974 | 40,373,850 | 37,702,624 | 24,645,574 | 41,945,848 | 50,793,471 | 27,153,572 | |||||||||||||||||||||||||
Non-Performing Loans | (11) | 928,759 | 1,027,712 | 950,629 | 666,368 | 334,488 | 1,052,313 | 958,546 | 512,427 | |||||||||||||||||||||||||
Allowance for Loans and Accrued Interest Losses | (12) | 2,548,165 | 2,477,604 | 2,134,360 | 1,490,454 | 845,827 | 2,500,257 | 2,595,076 | 1,387,296 | |||||||||||||||||||||||||
Loans Classified as “C”, “D” y “E” | (13) | 2,098,105 | 2,149,685 | 1,775,642 | 1,170,099 | 626,255 | 2,203,451 | 2,238,767 | 1,196,818 | |||||||||||||||||||||||||
Technical Capital | (14) | 9,017,449 | 7,286,296 | 6,245,624 | 5,908,317 | 3,414,312 | 7,381,624 | 9,338,544 | 4,992,272 | |||||||||||||||||||||||||
Risk Weighted Assets included Market Risk | (15) | 61,449,661 | 55,084,655 | 55,542,485 | 46,628,036 | 30,885,195 | 54,207,462 | 65,715,356 | 35,130,630 | |||||||||||||||||||||||||
SELECTED RATIOS: | ||||||||||||||||||||||||||||||||||
Colombian GAAP: | ||||||||||||||||||||||||||||||||||
Profitability Ratios: | ||||||||||||||||||||||||||||||||||
Net Interest Margin | (1) / (2) | 6.36 | % | 7.22 | % | 7.64 | % | 7.60 | % | 6.19 | % | 6.29 | % | 6.50 | % | 6.50 | % | |||||||||||||||||
Return on Average Total Assets | (6) / (3) | 2.27 | % | 2.01 | % | 2.34 | % | 2.52 | % | 2.31 | % | 2.20 | % | 2.14 | % | 2.14 | % | |||||||||||||||||
Return on Average Shareholders’ Equity | (6) / (4) | 19.71 | % | 19.59 | % | 23.68 | % | 26.13 | % | 22.10 | % | 20.72 | % | 18.69 | % | 18.69 | % | |||||||||||||||||
Efficiency Ratio: | ||||||||||||||||||||||||||||||||||
Operating Expenses as a Percentage of Interest, Fees Services and Other Operating Income | (5) / (8) | 56.28 | % | 50.89 | % | 47.79 | % | 52.60 | % | 64.37 | % | 55.92 | % | 61.56 | % | 61.56 | % | |||||||||||||||||
Capital Ratios: | ||||||||||||||||||||||||||||||||||
Period-end Shareholders’ Equity as a Percentage of Period-end Total Assets | (9) / (7) | 11.67 | % | 11.37 | % | 9.90 | % | 9.97 | % | 10.57 | % | 11.19 | % | 10.84 | % | 10.84 | % | |||||||||||||||||
Period-end Regulatory Capital as a Percentage of Period-end Risk-Weighted Assets | (14) / (15) | 14.67 | % | 13.23 | % | 11.24 | % | 12.67 | % | 11.05 | % | 13.62 | % | 14.21 | % | 14.21 | % | |||||||||||||||||
Credit Quality Data: | ||||||||||||||||||||||||||||||||||
Non-Performing Loans as a Percentage of Total Loans | (11) / (10) | 1.91 | % | 2.44 | % | 2.35 | % | 1.77 | % | 1.36 | % | 2.51 | % | 1.89 | % | 1.89 | % | |||||||||||||||||
“C”, “D” and “E” Loans as a Percentage of Total Loans | (13) / (10) | 4.32 | % | 5.11 | % | 4.40 | % | 3.10 | % | 2.54 | % | 5.25 | % | 4.41 | % | 4.41 | % | |||||||||||||||||
Allowance for Loan and Accrued Interest Losses as a Percentage of Non-Performing Loans | (12) / (11) | 274.36 | % | 241.08 | % | 224.53 | % | 223.67 | % | 252.87 | % | 237.60 | % | 270.73 | % | 270.73 | % | |||||||||||||||||
Allowance for Loan and Accrued Interest Losses as a Percentage of “C”, “D” and “E” Loans | (12) / (13) | 121.45 | % | 115.25 | % | 120.21 | % | 127.38 | % | 135.06 | % | 113.47 | % | 115.92 | % | 115.92 | % | |||||||||||||||||
Allowance for Loan and Accrued Interest Losses as a Percentage of Total Loans | (12) / (10) | 5.24 | % | 5.89 | % | 5.29 | % | 3.95 | % | 3.43 | % | 5.96 | % | 5.11 | % | 5.11 | % |