Exhibit 7.1
EXHIBIT 7.1 SELECTED RATIOS’ CALCULATION | INDEX | 2016 | 2015 | 2014 | ||||||||||
Net interest and valuation income on financial instruments before impairment on loans and financial leases and off balance sheet credit instruments | (1) | 9,695,705 | 7,231,703 | 6,007,552 | ||||||||||
Total Interest Earning Assets | (2) | 162,766,364 | 137,851,669 | 113,451,812 | ||||||||||
Total Average Assets | (3) | 191,803,284 | 163,140,151 | 134,779,566 | ||||||||||
Total Average Stockholders’ Equity | (4) | 19,729,828 | 18,332,795 | 15,694,090 | ||||||||||
Total Operating Expenses | (5) | 6,979,050 | 5,898,287 | 5,118,695 | ||||||||||
Net Income | (6) | 2,865,328 | 2,496,377 | 2,324,219 | ||||||||||
Total Assets | (7) | 196,261,049 | 192,972,867 | 149,629,881 | ||||||||||
Net Operating Income | (8) | 13,678,484 | 10,809,023 | 9,092,494 | ||||||||||
Total Stockholders' Equity | (9) | 21,267,583 | 19,279,449 | 16,871,907 | ||||||||||
Loans (principal) | (10) | 146,148,339 | 140,499,927 | 113,039,251 | ||||||||||
Total past due loans (principal) | (12) | 4,835,329 | 4,188,287 | 2,958,204 | ||||||||||
Allowance for loan losses (principal) | (13) | 6,087,510 | 4,823,393 | 4,305,599 | ||||||||||
Loans Classified as “C”, “D” y “E” (principal) | (14) | 7,416,286 | 5,543,824 | 4,301,768 | ||||||||||
Technical Capital(1) | (15) | 22,111,844 | 20,821,509 | N/A | (3) | |||||||||
Risk Weighted Assets included Market Risk(1) | (16) | 166,781,426 | 167,168,400 | N/A | (3) | |||||||||
SELECTED RATIOS: | ||||||||||||||
Colombian GAAP: | ||||||||||||||
Profitability Ratios: | ||||||||||||||
Net interest and valuation income on financial instruments before impairment on loans and financial leases and off balance sheet credit instruments margin | (1)/(2) | 5.96 | % | 5.25 | % | 5.30 | % | |||||||
Return on Average Total Assets | (6)/(3) | 1.49 | % | 1.53 | % | 1.72 | % | |||||||
Return on Average Stockholders’ Equity | (6)/(4) | 14.52 | % | 13.62 | % | 14.81 | % | |||||||
Efficiency Ratio: | ||||||||||||||
Operating expenses to net operating income | (5)/(8) | 51.02 | % | 54.57 | % | 56.30 | % | |||||||
Capital Ratios: | ||||||||||||||
Shareholders' equity to total assets | (9)/(7) | 10.84 | % | 9.99 | % | 11.28 | % | |||||||
Technical capital to risk weighted assets(2) | (15)/(16) | 13.26 | % | 12.46 | % | N/A | (3) | |||||||
Credit Quality Data: | ||||||||||||||
Past due loans to loans principal | (12)/(10) | 3.31 | % | 2.98 | % | 2.62 | % | |||||||
“C”, “D” and “E” loans as a percentage of loans principal | (14)/(10) | 5.07 | % | 3.95 | % | 3.81 | % | |||||||
Allowances to past due loans(3) | (13)/(12) | 125.90 | % | 115.16 | % | 145.55 | % | |||||||
Allowance for loan losses as a percentage of “C”, “D” and “E” loans(3) | (13)/(14) | 82.08 | % | 87.00 | % | 100.09 | % | |||||||
Allowance for loan losses as a percentage of total loans | (13)/(10) | 4.17 | % | 3.43 | % | 3.81 | % |
(1) N/A: not apply, in year 2014 the balance accounts were under Colombian Banking GAAP. The Bank’s consolidated capital adequacy was computed considering balance accounts under IFRS as of December 31, 2016 and 2015.
(2) For an explanation of risk-weighted assets and Technical Capital, see Item 4. “Information on the Company – B. Business Overview – B.7 –Supervision and Regulation” and Item "5 B.1. Liquidity and Funding - "Capital Adequacy".
(3) The variation between 2015 and 2014 is mainly generated by the inclusion of Grupo Agromercantil Holding loan portfolio at fair value, company acquired as of December, 2015.