Exhibit 12.2
Ratio of earnings to fixed charges
Ratios in accordance with Colombian GAAP(1)
1) Excluding interest on deposits
31-Mar-12 | 31-Mar-13 | |
Income before taxes (in millions COP) | 595,216 | 680,562 |
Interest expense | 653,527 | 792,676 |
Interest on deposits | 396,434 | 525,249 |
Ratio | 3.32 | 3.54 |
2) Including interest on deposits
31-Mar-12 | 31-Mar-13 | |
Income before taxes(in millions COP) | 595,216 | 680,562 |
Interest expense | 653,527 | 792,676 |
Ratio | 1.91 | 1.86 |
(1)For purposes of computing the consolidated ratio of earnings to fixed charges, earnings consist of income before minority interest and income taxes. Fixed charges consist of total interest expense.