Grupo Aval Acciones y Valores (AVAL) 20-F 26 Apr 19 2018 FY Annual report (foreign) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2018shares
Document And Entity Information [Abstract]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Entity Registrant Name	Grupo Aval Acciones Y Valores S.A.
Entity Central Index Key	0001504764
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Trading Symbol	AVAL
Entity Common Stock, Shares Outstanding	7,116,458,666

Consolidated Statement of Finan

Consolidated Statement of Financial Position $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)	[2]
Assets
Cash and cash equivalents	$ 8,739.5		$ 28,401,283	$ 22,336,838	[3]
Trading assets	2,216.9		7,204,312	5,128,088
Investment Securities	7,086.7		23,030,159	21,513,199
Hedging derivatives assets	9.3		30,138	55,261
Loans:
Commercial	31,512.9		102,408,977	99,428,894
Consumer	17,064.4		55,455,064	50,382,895
Mortgages	5,721.1		18,592,103	16,151,299
Microcredit	131		425,697	409,688
Total loans	54,429.4		176,881,841	166,372,776
Allowance for impairment losses	(2,522.1)		(8,196,187)	(5,618,481)
Total loans, net	51,907.3		168,685,654	160,754,295
Other accounts receivable, net	2,862		9,300,643	6,521,883
Non-current assets held for sale	57.5		186,714	101,382
Investments in associates and joint ventures	302.4		982,743	1,043,014
Tangible assets:
Property, plant and equipment for own-use and given in operating lease, net	1,744.1		5,667,953	5,804,073
Investment properties	257.4		836,324	783,794
Biological assets	25.9		84,206	66,139
Total Tangible assets	2,027.4		6,588,483	6,654,006
Intangibles
Concession arrangement rights	1,696.9		5,514,481	3,114,167
Goodwill	2,252		7,318,594	6,901,056
Other intangible assets	318.1		1,033,884	848,681
Total Intangibles	4,267.1		13,866,959	10,863,904
Income tax assets:
Current	182.7		593,837	907,476
Deferred	105		341,338	139,423
Total Income tax assets, net	287.8		935,175	1,046,899
Other assets	142.4		462,890	519,771
Total assets	79,906.2		259,675,153	236,538,540
Liabilities
Trading liabilities	249.7		811,305	298,665
Hedging derivatives liabilities	60.2		195,539	13,464
Customer deposits:
Checking accounts	12,217.2		39,702,878	36,017,602
Savings accounts	17,608		57,221,439	55,778,677
Time deposits	20,571.7		66,853,012	62,616,163
Other	179.1		582,122	472,782
Total Customer deposits	50,576		164,359,451	154,885,224
Financial obligations
Interbank borrowings and overnight funds	2,096.8		6,814,078	4,970,430
Borrowings from banks and others	6,342.3		20,610,766	18,205,320
Bonds issued	6,197.5		20,140,350	19,102,196
Borrowings from development entities	1,122.2		3,646,796	2,998,090
Financial Obligations	15,758.7		51,211,990	45,276,036
Provisions:
Legal related	38.8		125,929	165,353
Other	175.2		569,359	527,262
Total Provisions	214		695,288	692,615
Income tax liabilities:
Current	127.2		413,456	330,828
Deferred	665		2,160,942	1,696,843
Total Income tax liabilities	792.2		2,574,398	2,027,671
Employee benefits	389.2		1,264,881	1,238,172
Other liabilities	2,771.9		9,007,953	6,235,466
Total liabilities	70,811.8		230,120,805	210,667,313
Equity
Subscribed and paid-in capital	6.9		22,281	22,281
Additional paid-in capital	2,607.1		8,472,336	8,303,431
Retained earnings	2,645.8		8,598,319	7,174,418
Other comprehensive income	214.4		696,773	786,866
Equity attributable to owners of the parent	5,474.2		17,789,709	16,286,996
Non-controlling interest	3,620.2		11,764,639	9,584,231
Total equity	9,094.3		29,554,348	25,871,227
Total liabilities and equity	$ 79,906.2		$ 259,675,153	$ 236,538,540
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.
[3]	See note 2.5 “Changes in accounting policies”.

Consolidated Statement of Incom

Consolidated Statement of Income $ in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)$ / shares	Dec. 31, 2017COP ($)$ / shares		Dec. 31, 2016COP ($)$ / shares
Interest income calculated using the effective interest method
Loan portfolio		$ 5,351.4		$ 17,390,615	$ 17,899,967	[2]	$ 16,665,516	[2]
Investments in debt securities		297.3		966,021	841,866	[2]	881,454	[2]
Total interest income		5,648.6		18,356,636	18,741,833	[2]	17,546,970	[2]
Deposits
Checking accounts		(107.8)		(350,173)	(309,333)	[2]	(258,925)	[2]
Savings accounts		(460.7)		(1,497,038)	(1,978,986)	[2]	(2,139,841)	[2]
Time deposits		(1,014.4)		(3,296,508)	(3,560,478)	[2]	(3,413,489)	[2]
Interest expense on deposits from customers		(1,582.8)		(5,143,719)	(5,848,797)	[2]	(5,812,255)	[2]
Financial obligations
Interbank borrowings and overnight funds		(81.9)		(266,064)	(287,361)	[2]	(570,184)	[2]
Borrowings from banks and others		(236.7)		(769,184)	(770,015)	[2]	(575,710)	[2]
Bonds issued		(357.8)		(1,162,699)	(1,162,203)	[2]	(1,278,253)	[2]
Borrowing from development entities		(44.1)		(143,175)	(159,323)	[2]	(156,003)	[2]
Total Financial obligations		(720.4)		(2,341,122)	(2,378,902)	[2]	(2,580,150)	[2]
Net interest income		3,345.4		10,871,795	10,514,134	[2]	9,154,565	[2]
Impairment (losses) recoveries on financial assets
Loans and other accounts receivable		(1,277)		(4,149,972)	(4,119,334)	[2]	(3,004,184)	[2]
Other financial assets		10		32,506	(142)	[2]	(70,411)	[2]
Recovery of charged-off financial assets		98.5		320,121	264,582	[2]	290,444	[2]
Net impairment loss on financial assets		(1,168.5)		(3,797,345)	(3,854,894)	[2]	(2,784,151)	[2]
Net interest income, after impairment losses		2,176.9		7,074,450	6,659,240	[2]	6,370,414	[2]
Income from commissions and fees		1,678.1		5,453,382	5,202,125	[2]	4,879,187	[2]
Expenses from commissions and fees		(188.9)		(613,763)	(623,114)	[2]	(619,528)	[2]
Net income from commissions and fees		1,489.2		4,839,619	4,579,011	[2]	4,259,659	[2]
Income from sales of goods and services		2,500.5		8,126,014	5,792,850	[2]	6,654,623	[2]
Costs and expenses of sales goods and services		(1,686.9)		(5,482,102)	(5,035,827)	[2]	(5,725,328)	[2]
Net income from sales goods and services	[2]	813.6		2,643,912	757,023		929,295
Net trading income		179.3		582,709	561,362	[2]	724,698	[2]
Net income from other financial instruments mandatory at fair value through profit or loss		63.3		205,803	209,937	[2]	180,982	[2]
Other income	[2]	418.1		1,358,681	1,151,745		1,676,106
Other expenses		(2,883.6)		(9,371,033)	(9,003,091)	[2]	(8,567,309)	[2]
Net income before tax expense		2,256.8		7,334,141	4,915,227	[2],[3]	5,573,845	[2],[3]
Income tax expense		(661.5)		(2,149,590)	(1,752,794)	[2]	(2,056,909)	[2]
Net income for the year		1,595.4		5,184,551	3,162,433	[2]	3,516,936	[2]
Net income for the year attributable to:
Owners of the parent		896.3		2,912,694	1,962,414	[2]	2,139,866	[2]
Non-controlling interest		699.1		2,271,857	1,200,019	[2]	1,377,070	[2]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		$ 1,595.4		$ 5,184,551	$ 3,162,433	[2]	$ 3,516,936	[2]
Net income per share basic and diluted (in Colombian pesos, see note 25)				$ 130.725	$ 88.076	[2]	$ 96.040	[2]
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.
[3]	See note 2.5 “Changes in accounting policies”.

Consolidated Statement of Other

Consolidated Statement of Other Comprehensive Income $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of Consolidated Statement of Comprehensive Income [Abstract]
Net income for the year	$ 1,595.4		$ 5,184,551	$ 3,162,433	[2]	$ 3,516,936	[2]
Net gain (loss) on hedges of net investments in foreign operations:
Foreign currency translation differences from hedged foreign operations	346.1		1,124,732	(47,197)		(475,000)
Hedging derivative instrument	(168.4)		(547,310)	16,832		291,506
Hedging non-derivative instrument	(177.5)		(576,881)	30,568		35,819
Cash flow hedges	(6.1)		(19,789)	(2,340)		17,967
Foreign currency translation differences from unhedged foreign operations	(92.3)		(299,804)	(91,497)		(125,161)
Unrealized gains (losses) on securities at FVOCI (2017: available for sale securities)
Debt financial instruments	(33)		(107,084)	284,480		948,212
Equity financial instruments				57,245		34,509
Investments in associates and joint ventures	6.9		22,400	1,128		(20,061)
Income (Expenses) tax	99.4		323,138	(97,698)		(378,877)
Other comprehensive income that will be reclassified to profit or loss, net of tax	(24.8)		(80,598)	151,521		328,914
Items that will not be reclassified to profit or loss
Unrealized gains (losses) on equity securities at FVOCI	(41.3)		(134,084)
Actuarial gains (losses) from defined benefit pension plans	5.5		18,013	(100,232)		(41,228)
Income (expenses) tax	(4)		(13,082)	24,081		14,521
Other comprehensive income that will not be reclassified to profit or loss, net of tax	(39.7)		(129,153)	(76,151)		(26,707)
Total other comprehensive income	(64.5)		(209,751)	75,370		302,207
Total comprehensive income, net of taxes	1,530.8		4,974,800	3,237,803		3,819,143
Total comprehensive income for the year attributable to:
Owners of the parent	854.5		2,776,768	1,999,663		2,351,354
Non-controlling interest	676.4		2,198,032	1,238,140		1,467,789
Comprehensive income	$ 1,530.8		$ 4,974,800	$ 3,237,803		$ 3,819,143
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity $ in Millions, $ in Millions		Subscribed and paid-in capitalUSD ($)	[5]	Subscribed and paid-in capitalCOP ($)	Additional paid - in capitalUSD ($)	[5]	Additional paid - in capitalCOP ($)	Appropriated retained earningsUSD ($)	[5]	Appropriated retained earningsCOP ($)	Other comprehensive income (OCI)USD ($)	[5]	Other comprehensive income (OCI)COP ($)	Equity attributable to owners of parentUSD ($)	[5]	Equity attributable to owners of parentCOP ($)	Non-controlling interestUSD ($)	[5]	Non-controlling interestCOP ($)	USD ($)	[5]	COP ($)
Balance at Dec. 31, 2015				$ 22,281			$ 8,307,765			$ 5,699,446			$ 538,129			$ 14,567,621			$ 8,338,659			$ 22,906,280
Change in accounting policies										(7,061)						(7,061)			(4,870)			(11,931)
Dividends declared										(1,310,123)						(1,310,123)			(743,909)			(2,054,032)
Acquisition of non-controlling interest							(238)									(238)						(238)
Other comprehensive income													211,488			211,488			90,719			302,207
Net income										2,139,866						2,139,866			1,377,070			3,516,936	[1]
Balance at Dec. 31, 2016				22,281			8,307,527			6,522,128			749,617			15,601,553			9,057,669			24,659,222
Dividends declared										(1,310,124)						(1,310,124)			(711,578)			(2,021,702)
Acquisition of non-controlling interest							(4,096)									(4,096)						(4,096)
Other comprehensive income													37,249			37,249			38,121			75,370
Net income										1,962,414						1,962,414			1,200,019			3,162,433	[1]
Balance at Dec. 31, 2017				22,281			8,303,431			7,174,418			786,866			16,286,996			9,584,231			25,871,227	[1]
Change in accounting policies on January 1, 2018	[2]									(419,304)			45,833			(373,471)			(19,647)			(393,118)
Balance at January 1, 2018				22,281			8,303,431			6,755,114			832,699			15,913,525			9,564,584			25,478,109
Issuance of shares	[3]																		988,072			988,072
Dilution	[4]						181,579									181,579			(181,579)
Dividends declared										(1,069,489)						(1,069,489)			(749,987)			(1,819,476)
Acquisition of NCI without a change in control							(12,674)									(12,674)			(54,483)			(67,157)
Other comprehensive income													(135,926)			(135,926)			(73,825)	$ (64.5)		(209,751)
Net income										2,912,694						2,912,694			2,271,857	1,595.4		5,184,551
Balance at Dec. 31, 2018		$ 6.9		$ 22,281	$ 2,607.1		$ 8,472,336	$ 2,645.8		$ 8,598,319	$ 214.4		$ 696,773	$ 5,474.2		$ 17,789,709	$ 3,620.2		$ 11,764,639	$ 9,094.3		$ 29,554,348
[1]	See note 2.32, Changes in presentation.
[2]	See note 2.5 “Changes in accounting policies”.
[3]	See note 1, “Reporting entity”.
[4]	See note 26, “Non-controlling interest”.
[5]	See note 2.4, “convenience translation into U.S. dollars”.

Consolidated Statement of Cash

Consolidated Statement of Cash Flows $ in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)		Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Cash flows from operating activities:
Net income before tax expense		$ 2,256.8		$ 7,334,141		$ 4,915,227	[2],[3]	$ 5,573,845	[2],[3]
Reconciliation of net income before taxes and net cash provided by operating activities:
Depreciation of tangible assets		147.3		478,606		463,892	[3]	455,851	[3]
Amortization of intangible assets		147.3		478,568		437,822	[3]	323,677	[3]
Impairment losses and other accounts receivable		1,283.7		4,171,801		4,141,573	[3]	3,006,191	[3]
Net interest income		(3,345.4)		(10,871,795)		(10,514,134)	[3]	(9,154,565)	[3]
Accrued dividends		(22)		(71,487)		(50,439)	[3]	(28,027)	[3]
Gains on non-monetary transactions	[3]							(195,514)
Impairment of investments in associates and joint ventures		34.4		111,783		140,691	[3]	9,920	[3]
Effect of change in accounting polices	[3]							6,179
Gains on sales of non-current assets held for sale		(4.6)		(14,862)		(6,611)	[3]	(20,659)	[3]
Gains on sale of property plant and equipment for own-use		(106.9)		(347,510)
Valuations and interest from Concession agreements		(979)		(3,181,620)		(209,936)	[3]	(180,982)	[3]
Net losses (gains) on investment securities measured at FVOCI (2017: available for sale securities)		3.8		12,284		(51,712)	[3]	(210,373)	[3]
Writedown in concessions		0.3		1,136		2,875	[3]	5,992	[3]
Impairment loss on tangible assets		1.8		5,701		4,832	[3]	1,503	[3]
Foreign exchange (gains) losses		79.5		258,353		(98,977)	[3]	247,997	[3]
Share of undistributed profit of equity accounted investees, net of tax		(60.8)		(197,715)		(171,964)	[3]	(140,765)	[3]
Fair value adjustments to:
Derivative financial instruments		(131.5)		(427,208)		(164,920)	[3]	(228,083)	[3]
Non-current assets held for sale		7.7		25,136		37,818	[3]	34,572	[3]
Investment property		(12.1)		(39,415)		(46,675)	[3]	(53,680)	[3]
Biological assets		(6.3)		(20,606)		(13,503)	[3]	(14,644)	[3]
Changes in operating assets and liabilities:
Trading assets		218.3		709,398		2,316,539	[3]	3,100,462	[3]
Increase in other accounts receivable		(194)		(630,394)		(804,970)	[3]	(414,734)	[3]
Increase in derivative financial instruments		67.5		219,406		49,586	[3]	241,364	[3]
Other assets		4.2		13,710		177,648	[3]	207,856	[3]
Other liabilities and provisions		848.6		2,757,733		283,036	[3]	(375,163)	[3]
Employee benefits		13.1		42,617		46,514	[3]	45,139	[3]
Loans and receivables		(2,537.2)		(8,245,223)		(14,511,561)	[3]	(10,431,269)	[3]
Customer deposits		1,220.2		3,965,382		11,460,395	[3]	9,666,367	[3]
Interbank borrowings and overnight funds		527		1,712,600		(1,461,985)	[3]	(3,404,291)	[3]
Borrowings from development entities		(0.2)		(680)		(2,229)	[3]	(3,131)	[3]
Borrowings from banks and others		456.1		1,482,124		514,474	[3]	146,656	[3]
Interest received		5,416.6		17,602,454		18,124,814	[3]	12,797,281	[3]
Interest paid		(2,195.8)		(7,135,811)		(8,326,553)	[3]	(7,417,620)	[3]
Income tax paid		(451.4)		(1,467,045)		(1,474,250)	[3]	(791,337)	[3]
Wealth tax and equity tax payments	[3]					(99,001)		(320,981)
Net cash provided by operating activities		2,686.8		8,731,562		5,108,316	[3]	2,485,034	[3]
Cash flows from investing activities:
Acquisition of property plant and equipment		(168.9)		(548,984)		(473,752)	[3]	(814,556)	[3]
Acquisition of investment property		(16.7)		(54,405)		(75,817)	[3]	(56,610)	[3]
Additions of biological assets		(6.4)		(20,900)		(24,409)	[3]	(21,432)	[3]
Additions to investments in associates and joint ventures	[3]							(16)
Additions of concession arrangement rights		(143.2)		(465,273)		(610,909)	[3]	(614,514)	[3]
Additions of other intangible assets		(119.7)		(389,151)		(268,757)	[3]	(183,662)	[3]
Acquisition of FVOCI (2017 and 2016 – available-for sale-financial-assets)		(5,040.7)		(16,380,948)		(14,908,266)	[3]	(7,590,827)	[3]
Proceeds from sales of FVOCI (2017 and 2016 – available-for sale-financial-assets)		4,442.1		14,435,809		12,676,512	[3]	7,739,899	[3]
Proceeds from sales of property and equipment		17.3		56,346		69,793	[3]	241,598	[3]
Proceeds from sales of investment properties		24.9		80,854		28,431	[3]	61,786	[3]
Proceeds from sales of biological assets		9.9		32,239		19,775	[3]	20,670	[3]
Proceeds from sales of non-current assets held for sale		20.5		66,657		85,395	[3]	151,443	[3]
Purchases of amortized cost (2017 and 2016 — held-to-maturity) financial assets		(1,196.3)		(3,887,773)		(3,704,730)	[3]	(2,668,018)	[3]
Redemptions of amortized cost (2017 and 2016 held-to-maturity) financial assets		1,172.5		3,810,438		3,365,150	[3]	2,658,728	[3]
Dividends received from investments		63.6		206,549		171,423	[3]	125,347	[3]
Business combination, net of cash	[3]					40,093		(2,706)
Effect of loss of control of subsidiaries		3.5		11,238
Net cash (used in) provided by investing activities		(937.7)		(3,047,304)		(3,610,068)	[3]	(952,870)	[3]
Cash flows from financing activities:
Dividends paid to shareholders		(347.3)		(1,128,535)		(1,307,525)	[3]	(1,260,876)	[3]
Dividends paid to non-controlling interest		(229.5)		(745,932)		(768,769)	[3]	(743,909)	[3]
Issuance of debt securities		337.2		1,095,892		4,548,108	[3]	5,800,085	[3]
Payment of outstanding debt securities		(350.8)		(1,139,897)		(3,913,694)	[3]	(3,728,199)	[3]
Issuance of common shares		304		988,072
Acquisition of NCI without a change in control		(20.7)		(67,157)		(4,096)	[3]	(238)	[3]
Net cash used in financing activities		(307)		(997,557)		(1,445,976)	[3]	66,863	[3]
Effect of foreign currency changes on cash and cash equivalents		424		1,377,744		91,562	[3]	(1,691,000)	[3]
Increase (decrease) in cash and cash equivalents		1,866.1		6,064,445		143,834	[3]	(91,973)	[3]
Cash and cash equivalents at beginning of year		6,873.4		22,336,838	[2],[3]	22,193,004	[3]	22,284,977	[3]
Cash and cash equivalents at end of year		$ 8,739.5		$ 28,401,283		$ 22,336,838	[2],[3]	$ 22,193,004	[3]
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.
[3]	See note 2.5 “Changes in accounting policies”.

REPORTING ENTITY

REPORTING ENTITY	12 Months Ended
	Dec. 31, 2018
Disclosure Of Consolidated And Separate Financial Statements Explanatory [Abstract]
Disclosure of notes and other explanatory information [text block]	NOTE 1 – REPORTING ENTITY Grupo Aval Acciones y Valores S.A. (hereinafter the “The Group” or “Grupo Aval”) was established under Colombian law in January 7, 1994, with its main offices and business address registered in Bogotá, D.C., Colombia. The corporate purpose of Grupo Aval is the purchase and sale of securities issued by financial and commercial entities. Grupo Aval is the majority shareholder of Banco de Bogotá S.A., Banco de Occidente S.A., Banco Popular S.A. and Banco Comercial AV Villas S.A. , entities whose main purpose is to perform all transactions, operations and services inherent to the banking business, pursuant to applicable laws and regulations. Furthermore, through its direct and indirect investments in Corporación Financiera Colombiana S.A. (“Corficolombiana”) and in Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. (“Porvenir”), Grupo Aval engages in investment banking activities, invests in the non-financial sector and manages pensions and severance funds in Colombia. In performing its activities and pursuant to the corporate bylaws, Grupo Aval may (i) promote the creation of all types of companies relating to its corporate purpose; (ii) represent individuals and companies involved in similar or complementary activities; (iii) grant or receive loans with or without interest; (iv) submit its properties as collateral; (v) issue, endorse, acquire, protest, cancel, or pay bills of exchange, checks, promissory notes or any other type of financial instruments, accept or submit them as payment; (vi) acquire, sell, tax, lease or manage any kind of assets; (vii) subscribe or acquire any kind of investments and sell or otherwise dispose of them; (viii) acquire and sell shares in companies that purse similar or complementary corporate interests ; (ix) render services in areas relating to its activities, experience and knowledge; and (x) carry out or participate, in acts and contracts relating to the aforementioned activities, enabling the exercise of rights and compliance of the obligations of The Group. The duration of Grupo Aval set forth under the bylaws is until May 24, 2044, but the Company may be dissolved before such term expires, or it may be extended by free decision of the Grupo Aval shareholders meeting. When preparing its consolidated financial statements, Grupo Aval Acciones y Valores S.A., directly consolidates the following entities: Banco de Bogotá S.A. Banco de Bogotá S.A., in which Grupo Aval holds 68.74% of the voting rights and 68.74% of the ownership interest as of December 31, 2018, was established as a bank on November 15, 1870. It was authorized to operate under the terms of the renewal resolution No. 3140 dated September 24, 1993 issued by the Superintendency of Finance. The commercial purpose of Banco de Bogotá is to participate and perform all operations and contracts legally authorized to commercial banking, subject to the limitations and requirements set forth under Colombian laws and regulations. The following table presents details of Banco de Bogotá’s most significant subsidiaries which are indirectly consolidated by Grupo Aval as of December 31, 2018: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Main local direct subsidiaries Almaviva S.A. and its subsidiaries Logistics services. Bogotá, Colombia 95.81 % 65.85 % Fiduciaria Bogotá S.A. Management of trust funds. Bogotá, Colombia 94.99 % 65.29 % Porvenir S.A. and its subsidiary Management of pension and severance funds. Bogotá, Colombia 100 % 75.67 % Main international direct subsidiaries Leasing Bogotá Panamá S.A. Holding company of BAC Credomatic Inc. Panamá, Republic of Panamá 100 % 68.74 % Banco de Bogotá Panamá S.A. Commercial banking services. Panamá, Republic of Panamá 100 % 68.74 % Main indirect subsidiaries BAC Credomatic Inc. Holding company in charge of managing the banking and related subsidiaries in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panamá, among others. (Subsidiary of Leasing Bogotá Panamá S.A.). Panamá, Republic of Panamá 100 % 68.74 % Banco de Occidente S.A. Banco de Occidente S.A., in which Grupo Aval holds 72.27% of the voting rights and 72.27% of the ownership interest as of December 31, 2018, was established as a banking entity on September 8, 1964, It was authorized to operate under the terms of the renewal resolution No. 3140 dated September 24, 1993 issued by the Superintendency of Finance. The commercial purpose of Banco de Occidente is to participate and perform all operations and contracts legally authorized to commercial banks, subject to the limitations and requirements set forth under Colombian laws and regulations. The following table presents the details of Banco de Occidente’s most significant subsidiaries, which are indirectly consolidated by Grupo Aval, as of December 31, 2018: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Banco de Occidente (Panamá). S.A. Commercial banking services. Panamá, Republic of Panamá 95.00 % 68.66 % Fiduciaria de Occidente S.A. Management of trust funds. Bogotá, Colombia 99.99 % 70.76 % Occidental Bank Barbados Ltd. Commercial banking services. Barbados 100 % 72.27 % Banco Popular S. A. Banco Popular S. A., in which Grupo Aval holds 93.74% of the voting rights and 93.74% of the ownership interest as of December 31, 2018, was established as a banking entity on July 5, 1950. It was authorized to operate under the terms of the renewal resolution No. 3140 dated September 24, 1993 issued by the Superintendency of Finance. Its commercial purpose is to participate in and perform all operations and contracts legally authorized to commercial banks, subject to the limitations and requirements set forth under Colombian laws and regulations. The following table presents the details of Banco Popular’s most significant subsidiaries which are indirectly consolidated by Grupo Aval, as of December 31, 2018: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Alpopular S.A. Conservation and custody of documents; transportation of products at national and international levels. Bogotá, Colombia 71.10 % 66.65 % Fiduciaria Popular S.A. Management of trust funds. Bogotá, Colombia 94.85 % 88.91 % Banco Comercial AV Villas S. A. Banco Comercial AV Villas S. A., in which Grupo Aval holds 80.37% of the voting rights and 79.87% of the ownership interest as of December 31, 2018, was incorporated as a banking entity on November 24, 1972. It was authorized to operate under the terms of the renewal resolution No. 3352 dated August 21, 1992 issued by the Superintendency of Finance. The commercial purpose of Banco AV Villas is to participate and perform all operations and contracts legally authorized to commercial banks, subject to the limitations and requirements imposed by Colombian laws and regulations. The following table presents the details of Banco AV Villas’ most significant subsidiary which is indirectly consolidated by Grupo Aval, as of December 31, 2018: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval A Toda Hora S.A. ATH ATM network services and maintenance and software development Bogotá, Colombia 100 % 78.90 % Corporación Financiera Colombiana S.A. – Corficolombiana S.A. Corficolombiana S.A., in which Grupo Aval holds 52.96% of voting rights and 38.25% of the ownership interest as of December 31, 2018 is a merchant bank authorized to operate by the Superintendency of Finance by the resolution of October 18, 1961. Corficolombiana´s core business is the active management of an equity portfolio through controlling and non-controlling investments in key strategic sectors, including infrastructure, energy and gas, agriculture and hotels among, others. The following table presents the details of Corficolombiana´s most significant subsidiaries which are indirectly consolidated by Grupo Aval, at December 31, 2018: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Casa de Bolsa S.A. Brokerage firm Bogotá, Colombia 97.30 % 61.18 % Colombiana de Licitaciones y Concesiones S.A.S. Infrastructure projects. Bogotá, Colombia 100 % 38.25 % Concesionaria Nueva Vía Al Mar S.A.S. Infrastructure projects. Cali, Colombia 100 % 38.25 % Concesionaria Vial Del Pacifico S.A.S. Infrastructure projects. Sabaneta Antioquia 89.90 % 34.38 % Estudios y Proyectos del Sol S.A.S. and its subsidiaries Infrastructure projects. Bogotá, Colombia 100 % 38.25 % Estudios, Proyectos e Inversiones de los Andes S.A. and its subsidiaries Infrastructure projects. Bogotá, Colombia 99.98 % 38.24 % Fiduciaria Corficolombiana S.A. Management of trust funds. Bogotá, Colombia 100 % 38.25 % Hoteles Estelar S. A. and its subsidiaries Construction and operation of hotels, directly or by third parties, in Colombia and abroad. Bogotá, Colombia 84.96 % 32.49 % Leasing Corficolombiana S.A. Financial services Bogotá, Colombia 100 % 38.25 % Organización Pajonales S. A. and its subsidiaries Investment and promotion of agricultural, livestock, forestry and agro industrial companies. Bogotá, Colombia 99.35 % 38.00 % Plantaciones Unipalma de los Llanos S.A. Development, production and sale of African palm products. Bogotá, Colombia 54.53 % 20.86 % Promigas S.A. E.S.P. and its subsidiaries Transportation and distribution of natural gas. Barranquilla, Colombia 50.88 % 19.46 % Proyectos de Infraestructura S.A. – PISA and its subsidiaries Infrastructure projects. Cali, Colombia 88.25 % 33.75 % On September 5, 2018, Corficolombiana issued 40,000,000 common shares and 1,529,542 preferred shares without voting rights. The total amount of this issue was Ps. 988,072. Neither Grupo Aval nor its subsidiaries exercised their right of preferential subscription of common shares. As a result, Grupo Aval’s stake in Corficolombiana was diluted as follows: Total voting rights held by Total ownership interest Grupo Aval held by Grupo Aval Before the issuance 62.42 % 44.79 % After the issuance 52.96 % 38.25 % Grupo Aval transferred its preferential subscription rights to all of its shareholders. Grupo Aval Limited Grupo Aval Limited is a subsidiary of Grupo Aval in Cayman Islands. It was established on December 29, 2011. Grupo Aval Limited is a limited liability company registered with the Assistant of the Registrar of Companies of Cayman Islands under registry number MC‑265169, with its Main Office located in Ugland House, South Church Street, George Town, Grand Cayman KY1‑1104. It was constituted as a special purpose vehicle for issuing foreign debt. Grupo Aval International Limited Grupo Aval International Limited is a subsidiary of Grupo Aval in Cayman Islands and was established on October 8, 2012. Grupo Aval International Limited is a limited liability company registered with the Assistant of the Registrar of Companies of Cayman Islands under registry number MC‑272253, with its Main Office located in Ugland House, South Church Street, George Town, Grand Cayman KY1‑1104. Other dispositions Grupo Aval and its Colombian subsidiaries are subject to the following restrictions to transfer profits or perform transactions, in accordance with the legal requirements in Colombia: · Before distributing any dividends to their shareholders, the companies should assign 10% of their profits to a legal reserve until the reserve equals 50% of paid-in capital. · The Subsidiaries operating in the financial sector may not grant loans to other companies of Grupo Aval that exceed 10% of their regulatory capital if the loan is unsecured or 25% if it is granted with an acceptable security or third party guarantee, as per Superintendency of Finance rules. There is an exception to this rule that extends the maximum quota up to 25% (without guarantee) when it comes to loans to 4G infrastructure projects. · Pursuant to article 2.1.2.1.8 of Decree 2555 of 2010, banks in Colombia have a lending limit of 30% of their regulatory capital with respect to loans granted to financial entities. Foreign subsidiaries of Grupo Aval do not have any restriction to transfer dividends to the parent company, except for the legal reserve mentioned above. Lending operations in general have restrictions similar to those of banks in Colombia, as described above. Grupo Aval and its subsidiaries do not have significant restrictions on their ability to access or use their assets and settle their liabilities other than those resulting from the supervisory frameworks within which subsidiaries of the financial sector operate. The supervisory frameworks require subsidiaries of the financial sector to keep certain levels of regulatory capital (see note 4.4) and liquid assets (see note 4.3), limit their exposure to other parts of Grupo Aval and its subsidiaries and comply with other ratios.

BASIS OF PREPARATION OF THE CON

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2018
Disclosure of voluntary change in accounting policy [abstract]
Disclosure of voluntary change in accounting policy [text block]	NOTE 2 – BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The consolidated financial statements of Grupo Aval have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). The consolidated financial statements have been prepared on the basis of historical cost, except for financial assets at Fair Value Through Profit or Loss (“FVTPL”), at Fair Value Through Other Comprehensive Income (“FVOCI”) (2017: available-for-sale), derivative financial instruments, investment properties, assets held for sale and biological assets which are measured at fair value. Additionally, non-current assets held for sale are measured at the lower value of their carrying value at the time of transfer and fair value, minus estimated costs of disposal and employee benefits which are measured at the present value of the defined benefit obligation (see note 2.24). The consolidated financial statements were authorized for issuance by the Audit Committee on April 11, 2019. The following are the main accounting policies applied in preparing the consolidated financial statements of Grupo Aval as of December 31, 2018, 2017 and, 2016 2.1 Basis of preparation a) The consolidated financial statements are prepared as follows: · The consolidated statement of financial position presents the company´s assets and liabilities based on liquidity since it provides reliable and more relevant information, than separate current and non-current classifications. · The consolidated statements of income and other comprehensive income are presented separately. The Consolidated Statement of Income is presented according to their nature, as this method provides reliable and more relevant information. · The consolidated statement of cash flows is presented using the indirect method. Accordingly, net cash flows from operating activities are determined by reconciling profit before taxes, with the effects of non-cash items, net changes in assets and liabilities from operating activities, and for any other effects that are not classified as investing or financing activities. Revenue and expenses due to interest received and paid are part of operating activities. b) Grupo Aval prepares its consolidated financial statements incorporating its controlled entities. Grupo Aval controls an investee if and only if it complies with the following elements: · Power over the investee entitling Grupo Aval to direct any relevant activities that significantly affect the investee's performance. · Exposure, or rights to variable returns from its involvement with the investee. · Ability to affect those returns through its power over the investee. In order to comply with this requirement, Grupo Aval carries out an annual reassessment of all its contractual relationships. No new entities are required to be consolidated as a result of this process, including no structured entities. The financial statements of subsidiaries Grupo Aval´s are included in the consolidated financial statements since the date on which Grupo Aval acquires control until the date on which control is lost. During the consolidation process, Grupo Aval combines the assets, liabilities and profits or losses of those entities under control, previously aligning the accounting policies in all the subsidiaries. Such process includes eliminating intra-group balances and transactions and any unrealized and realized income and expense (except for foreign currency translation gains or losses, taxes are not subject of elimination) arising from intra-group transactions. Unrealized and realized losses are eliminated in the same way as unrealized and realized gains but only to the extent that there is no evidence of impairment. Non-controlling interest is presented in the consolidated statement of financial position of Grupo Aval separately from that attributable to owners of the parent company. For consolidation purposes, the statements of financial position and income of Grupo Aval´s foreign subsidiaries are translated to Colombian pesos, as follows: · Assets and liabilities are translated at the closing exchange rate at the reporting date; · Income, expense and cash flows of foreign operations are translated at monthly average exchange rates since those averages approximate the exchange rates of each specific transaction; · All resulting exchange differences are recognized in other comprehensive income and accumulated in the foreign currency translation reserve, except to the extent that the translation difference is allocated to non-controlling interests. c) Associates are companies in which Grupo Aval has significant influence but not control and are accounted for under the equity method. They are presented in the statement of financial position as “Investments in associates and joint ventures” (additionally see Note 2.1 “d) Joint arrangements”). Grupo Aval exercises significant influence over another entity if it owns, directly or indirectly, 20% or more of the voting power of the investee, unless it is clearly evidenced that such influence does not exist. Under the equity method, investments in associates are initially recognized at cost and subsequently adjusted by Grupo Aval´s share in the associates income and other comprehensive income with credit or charge to Grupo Aval’s profit or loss account and other comprehensive income, respectively of the net income, and other comprehensive income of the investee. Dividends received from associates and joint ventures are recognized as a reduction in the carrying amount of the investment. Grupo Aval´s share of losses in an equity-accounted investment equals or exceeds its interest in the entity, including any other unsecured long-term receivables, Grupo Aval does not recognize further losses, unless it has incurred obligations or made payments on behalf of the other entity. Unrealized gains on transactions between Grupo Aval and its associates are eliminated to the extent of Grupo Aval’s interest in these entities. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed where necessary to ensure consistency with the policies adopted by Grupo Aval. The carrying amount of associates is tested for impairment. d) A joint arrangement is one in which two or more parties have joint control of the arrangement. Joint arrangements are divided into joint operations, in which the parties having joint control of the agreement have rights to the assets and obligations with respect to the liabilities relating to the agreement, and joint ventures, wherein the parties having joint control are entitled to the net assets of the agreement. Grupo Aval recognizes joint operations in the consolidated financial statements based on their proportional and contractual participation in each of the assets, liabilities and profit or loss of the contract or entity wherein the agreement is held. Grupo Aval recognizes joint ventures through the equity method, in the same manner as investments in associates. 2.2 Functional currency Considering that the majority of the operation, generation and use of cash of Grupo Aval is in Colombian pesos, the Colombian peso is the currency that most accurately represents the economic environment of Grupo Aval’s operations, both for the consolidated financial statements and for the parent company. Foreign subsidiaries have functional currencies different from the Colombian peso, which are translated to Colombian pesos for presentation purposes. 2.3 Transactions in foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the prevailing exchange rate at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies in terms of historical costs are measured using the exchange rate at the transaction date. Financial instruments measured at fair value are converted using the exchange rate at the date the fair value was determined. Profits or losses resulting from the translation process are recognized in profit or loss, except for financial instruments designated as hedging instruments. As of December 31, 2018, and 2017, the representative market rates as computed and certified by the Superintendency of Finance (for the U.S. $ which is the most representative foreign currency for Grupo Aval´s transactions) were Ps. 3,249.75 and Ps. 2,984.00 per U.S. $1, respectively. 2.4 Convenience translation into U.S. dollars The presentation currency of Grupo Aval´s consolidated financial statements is the Colombian Peso. The U.S. dollar amounts disclosed in the accompanying consolidated financial statements are presented solely for the convenience of the reader, dividing the Colombian peso amounts by the exchange rate of Ps. 3,249.75 per US$1.00, which is the market exchange rate as of December 31, 2018, as calculated and certified by the Central Bank of Colombia. The use of this methodology in translating Colombian pesos into U.S. dollars is referred to as the “U.S. dollar translation methodology,” and should not be construed as a representation that the Colombian peso amounts actually represent or have been, or the amount that could be converted into U.S. dollars at that rate or any other rate. 2.5 Changes in accounting policies The following table summarizes the impact, net of taxes, of the adoption of IFRS 15 and IFRS 9 in the statement of financial position as of January 1, 2018. Impact of Reference the adoption IFRS 15 Revenue from contracts with customers A Ps. 391,281 IFRS 9 Financial Instruments B (784,399) Net impact at January 1, 2018 Ps. (393,118) A. IFRS 15 “Revenue from contracts with customers” Grupo Aval has adopted Revenue from Contracts with Customers IFRS 15 using the cumulative effect method, with the effect of initial adoption recognized on January 1, 2018. Accordingly, the information presented for 2017 and 2016, has not been restated – i.e. it is presented, as previously reported, under – IAS 18 Revenue, IAS 11 Construction Contracts, IFRIC 12 “Service Concession Arrangements” and related interpretations. Additionally, the disclosure requirements in IFRS 15 have not generally been applied to comparative information. The following table summarizes the impact net of taxes, of the adoption of IFRS 15 in the statement of financial position as of January 1, 2018. Impact of the adoption of IFRS 15 as of January 1, 2018 Operation and construction services (Concessions) (i) Commissions related to funding (see note 16) Ps. 12,744 Contract liability (see note 24) (531,804) Financial assets (see note 16) 450,878 Intangible assets (see note 16) 619,949 Deferred tax effect (181,680) 370,087 Customer loyalty programs (ii) Customer loyalty programs 32,232 Deferred tax effect (11,038) 21,194 Net impact retained earnings at January 1, 2018 Ps. 391,281 The main revenue streams impacted by the adoption of IFRS 15, including a description of the accounting policy change, are described below: i. IFRS 15 (see note 2.29 (iii)) incorporates elements related to revenue recognition, such as: a) performance obligations; b) the interest rates of significant financing components; c) the distribution of income among the different performance obligations; and d) the determination of methods for measuring the progress of performance obligations that are met over time. The impact was mainly done to: a) a change in the discount rates applied in the determination of the significant financing components which; under IFRS 15, are directly associated to the risk characteristics of the counterparty of the concessions agreements (i.e. Government), b) the amounts of revenue allocated to the different performance obligations identified in the concession agreements (mainly construction, and operation and maintenance); and c) changes in the methodologies for measuring the progress of performance obligations. ii. Under IAS 18 / IFRIC 13 consideration was allocated to the loyalty program based on the fair value of the loyalty points and the remaining consideration was allocated to the products or services. Under IFRS 15, the transaction price is allocated between the performance obligations based on the relative standalone selling prices of each performance obligation. Therefore, for customer loyalty points a lower level of revenue is deferred according to IFRS 15 than under IAS 18. B. IFRS 9 “Financial Instruments” The following table summarizes the impact, net of tax, of our transition to IFRS 9 on the opening balance of reserves and retained earnings and Other Comprehensive Income (“OCI”) as of January 1, 2018 (for a description of the transition method, see (iv) below). Impact of adopting IFRS 9 on opening balance of: Reserves and Total reference retained earnings OCI equity Recognition of changes in measurement due in classification under IFRS 9 i. Ps. — Ps. 71,229 Ps. 71,229 Recognition of expected credit losses under IFRS 9 ii. (1,255,060) 56,198 (1,198,863) Impact on equity method due to impairment of other accounts receivable from associates ii — (3,691) (3,691) Deferred tax effect 366,650 (19,725) 346,926 Impact as of January 1, 2018 Ps. (888,411) Ps. 104,011 Ps. (784,399) The details of the significant new accounting policies and the nature and effect of the changes in accounting policies that resulted from the adoption of IFRS 9 were applied retrospectively, as detailed below. Grupo Aval has followed the exemption of IFRS 9 not to restate comparative information for prior periods with respect to classification and measurement (including impairment) requirements resulting from the adoption of the new standard. Therefore, differences in the carrying amounts of financial assets and financial liabilities resulting from the adoption of IFRS 9 are recognized in retained earnings and reserves as of January 1, 2018. Accordingly, the information presented for 2017 does reflect the requirements of IAS 39. i. Classification and Measurement of Financial Assets and Liabilities IFRS 9 contains three classification categories for financial assets: measured at amortized cost, Fair Value Through Other Comprehensive Income (“FVOCI”) and Fair Value Through Profit or Loss (“FVTPL”). The classification of financial assets under IFRS 9 is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. IFRS 9 eliminates the previous IAS 39 categories of held to maturity, loans and receivables and available for sale. Under IFRS 9, derivatives embedded in contracts where the host is a financial asset in the scope of the standard are never separated. Instead, the hybrid financial instrument as a whole is assessed for classification. IFRS 9 largely retains the existing requirements in IAS 39 for the classification and measurement of financial liabilities. The adoption of IFRS 9 has not had a significant effect on Grupo Aval’s accounting policies related to financial liabilities and derivative financial instruments (for derivatives that are used as hedging instruments, see (iii)). For an explanation of how Grupo Aval classifies and measures financial instruments and accounts for related gains and losses under IFRS 9, see Note 2.6(ii). The following table and the accompanying notes below explain the original measurement categories under IAS 39 and the new measurement categories under IFRS 9 for each class of Grupo Aval’s financial assets and financial liabilities as of January 1, 2018. Financial assets New Carrying classification amount Carrying Original classification under under Remeasurement amount under under IAS 39 IFRS 9 IAS 39 Reclassification (1) impact to OCI IFRS 9 Cash and cash equivalents Loans and receivables Amortized cost Ps. 22,336,838 Ps. — Ps. — Ps. 22,336,838 Debt securities Held-for-trading Amortized cost — — — FVTPL 2,650,536 — — 2,650,536 FVOCI — — — — Available-for-sale Amortized cost — — — — FVTPL mandatory (*) 8,256 — — 8,256 FVOCI 17,781,871 — — 17,781,871 Held to maturity Amortized cost 2,899,039 — — 2,899,039 FVTPL — — — — FVOCI — — — — Equity securities Held-for-trading FVTPL 2,149,160 — — 2,149,160 FVOCI — — — — Available-for-sale FVTPL — — — — FVOCI 824,033 41,790 71,229 937,054 Derivatives Held-for-trading FVTPL 328,392 — — 328,392 Hedging instrument Hedging instrument 55,261 — — 55,261 Loans and leases receivables Loans and receivables Amortized cost 166,372,776 — — 166,372,776 FVTPL — — — — Other receivables Loans and receivables Amortized cost 3,680,116 — — 3,680,116 Assets under concession contracts Loans and receivables Amortized cost 786,018 — — 786,018 Designated as at FVTPL FVTPL 2,282,611 — — 2,282,611 Total financial assets Ps. 222,154,907 Ps. 41,790 Ps. 71,229 Ps. 222,267,926 Financial liabilities Original New carrying classification amount New carrying Original classification under under amount under under IAS 39 IFRS 9 IAS 39 Reclassification Remeasurement IFRS 9 Deposits Other financial liabilities Amortized cost Ps. 154,885,224 Ps. — Ps. — Ps. Financial liabilities Other financial liabilities Amortized cost 45,276,036 — — 45,276,036 Derivatives Held-for-trading FVTPL 298,665 — — 298,665 Hedging instrument Hedging instrument 13,464 — — 13,464 Total financial liabilities Ps. 200,473,389 Ps. — Ps. — Ps. (*) After the adoption of IFRS 9, certain investment securities were classified as at FVTPL because the contractual cash flows of these securities are not Solely Payments of Principal and Interest (“SPPI”) on the principal outstanding. The reclassified assets include certain asset-backed securities whose exposure to credit risk is higher than the exposure to credit risk of the underlying pool of financial assets. (1) Reclassification from other assets, measured at cost as of December 31, 2017. ii. Impairment of financial assets IFRS 9 replaces the ‘incurred loss’ model in IAS 39 with an ‘expected credit loss’ (ECL) model. The new impairment model applies to financial assets measured at amortized cost, contract assets and debt investments at FVOCI, but not to investments in equity instruments. Under IFRS 9, credit losses are recognized earlier than under IAS 39 – see Note 2.6(ix). For assets within the scope of the IFRS 9 impairment model, impairment losses are generally expected to increase and become more volatile. Grupo Aval has determined that the application of IFRS 9’s impairment requirements as of January 1, 2018 results in an additional impairment allowance recognition as follows: Loss allowance as of December 31, 2017 under IAS 39 Ps. (5,875,018) Additional impairment recognized as of January 1, 2018 on: Loans (1,163,009) Credit Commitments (16,217) Other accounts receivable (18,907) Impact on equity method investees due to impairment of other accounts receivable from associates (3,691) Debt securities measured at amortized cost (672) Other financial assets (58) Loss allowance as of January 1, 2018 under IFRS 9 Ps. (7,077,572) Recognition of expected credit losses under IFRS 9 for debt financial assets at FVOCI impacts OCI and retained earnings at the same time, therefore the net impact on total equity is zero. The table below shows the impact on retained earnings from impairment: Impairment loss due to credit risk as of December 31, 2017 under IAS 39 Ps. (71,708) Additional impairment recognized as of January 1, 2018 on: Debt securities measured at FVOCI (56,198) Loss allowance as of January 1, 2018 under IFRS 9 Ps. (127,906) Additional information about how Grupo Aval measures the allowance for impairment is described in Note 4(4.1). iii. Hedge Accounting When initially applying IFRS 9, Grupo Aval may choose as its accounting policy to continue to apply the hedge accounting requirements of IAS 39 instead of the requirements in Chapter 6 of IFRS 9. Grupo Aval has elected to continue to apply IAS 39. iv. Transition Changes in accounting policies resulting from the adoption of IFRS 9 are generally applied retrospectively, except as described below. · Grupo Aval applied the exemption allowing not to restate comparative information for prior periods with respect to classification and measurement changes (including impairment). · Differences in the carrying amounts of financial assets and financial liabilities resulting from the adoption of IFRS 9 were recognized in retained earnings and reserves as of January 1, 2018. The following assessments were performed on the basis of the facts and circumstances that exist at the date of initial application: · The determination of the business model within which a financial asset is held. · The designation and revocation of previous designations of certain financial assets and financial liabilities as measured at FVTPL. · The designation of certain investments in equity instruments not held for trading as at FVOCI. · If a debt investment security has low credit risk at January 1, 2018, then Grupo Aval determined that the credit risk on the asset has not increased significantly since initial recognition. 2.6 Financial assets and financial liabilities i. Recognition and initial measurement Grupo Aval initially recognizes loans and advances, deposits, debt securities issued and subordinated liabilities on the date on which they are originated. All other financial instruments (including regular-way purchases and sales of financial assets) are recognized on the trade date, which is the date in which Grupo Aval becomes a party to the contractual provisions of the instrument. A financial asset or financial liability is measured initially at fair value and in addition for instruments at amortized cost or FVOCI, incorporates transaction costs that are directly attributable to its acquisition or issuance. ii. Classification Financial assets - Policy applicable starting January 1, 2018 On initial recognition, a financial asset is classified as: amortized cost, Fair Value Through Other Comprehensive Income (“FVOCI”) or FVTPL. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: · The asset is held within a business model in which the objective is to hold assets to collect contractual cash flows; and · The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A debt instrument is measured at FVOCI only if it meets both of the following conditions and is not designated as at FVTPL: · The asset is held within a business model whose objective is achieved both by collecting contractual cash flows and selling financial assets; and · The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. On initial recognition of an equity investment that is not held for trading, Grupo Aval may irrevocably elect to present subsequent changes in fair value in Other Comprehensive Income (“OCI”). This election is made on an investment-by-investment basis. All other financial assets are classified as measured at FVTPL. Business model assessment Grupo Aval makes an assessment of the objective of a business model in which an asset is held at a portfolio level because this best reflects the way the business is managed, and information is provided to management. The information considered includes: · The expected policies and objectives for the portfolio and the actual application of them. In particular, whether management’s strategy focuses on earning contractual interest revenue, maintaining a particular interest rate profile, matching the duration of the financial assets to the duration of the liabilities that are funding those assets or realizing cash flows through the sale of the assets; · How the performance of the portfolio is evaluated and reported to Grupo Aval’s management; · The risks that affect the performance of the business model (and the financial assets held within that business model) and how those risks are managed; and · The frequency, volume and timing of sales of financial assets in prior periods, the reasons for such sales and its expectations about future sale activity. However, information about sales activity is not considered in isolation, but as part of an overall assessment of how Grupo Aval’s stated objective for managing the financial assets is achieved and how cash flows are realized. Financial assets that are held for trading and whose performance is evaluated on a fair value basis are measured at FVTPL because they are neither held to collect contractual cash flows nor held both to collect contractual cash flows and to sell financial assets. Assessment whether contractual cash flows are solely payments of principal and interest (SPPI) For the purposes of this assessment, ‘principal’ is defined as the fair value of the financial asset on initial recognition. ‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and costs (e.g. liquidity risk and administrative costs), as well as profit margin. In assessing whether the contractual cash flows are solely payments of principal and interest, Grupo Aval considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the timing or amount of contractual cash flows such that it would not meet this condition. In making the assessment, Group Aval considers: · Contingent events that would change the amount and timing of cash flows; · Leverage covenants; · Prepayment and extension terms; · Terms that limit Grupo Aval’s claim to cash flows from specified assets; and · Features that modify consideration of the time value of money. Interest rates on certain corporate and retail loans originated by Grupo Aval are pegged to standard variable rates (SVRs) generally used in each country where Grupo Aval operates and includes a discretional spread. In Colombia, the SVRs are based on the DTF or IBR rates which are calculated weekly by the Central Bank based on information collected from the Colombian financial system, plus a discretionary spread, and in the case of loans in foreign currency Grupo Aval uses Libor interest rates plus a discretionary spread. In these cases, Grupo Aval will assess whether the discretionary feature is consistent with the SPPI criteria by considering a number of factors, including whether: · Borrowers are able to prepay the loans without significant penalties, · Market competition ensures that interest rates are consistent between banks; and · Any regulatory or customer protection framework is in place that requires banks to treat customers fairly. A prepayment feature is consistent with the SPPI criterion if the prepayment amount substantially represents unpaid amounts of principal and interest on the principal amount outstanding, which may include reasonable compensation for early termination of the contract. In addition, a prepayment feature is treated as consistent with this criterion if a financial asset is acquired or originated at a premium or discount to its contractual par amount, and the prepayment amount substantially represents the contractual par amount plus accrued (but unpaid) contractual interest (which may also include reasonable compensation for early termination), and the fair value of the prepayment feature is insignificant upon initial recognition. Financial assets - Policy applicable until December 31, 2017 For accounting purposes, financial assets were classified at initial recognition into four categories: · Fair value through profit or loss: (i) Held for trading financial assets acquired to generate short term profits or that were part of a portfolio of financial instruments managed together for that purpose. (ii) Some financial assets under concessions contracts were included in this category in order to obtain more relevant information, either because this eliminated or significantly reduced recognition or measurement inconsistencies (accounting mismatches) that would otherwise arise from measuring assets or recognizing the gains or losses on them on different bases, in accordance with a documented risk management or investment strategy, and information was provided on that basis to Grupo Aval’s key management personnel. This classification adequately reflected the present market expectations over future costs comprising the amount of the concession to be negotiated with the different Colombian Government, upon the termination of the concession or its renewal. · Held-to-maturity Investments: These were debt securities with fixed or determinable payments and a fixed maturity date, which Grupo Aval intended and had the ability to hold to maturity. · Loans and receivables: These were financial assets of fixed or determinable payments that were not quoted in active markets and were not classified as either trading or available-for-sale. · Available-for-sale: These were financial assets that were designated initially as available-for-sale and are those not classified as loans and receivables, or as held-to-maturity investments. Financial liabilities Grupo Aval classified its financial liabilities, other than derivatives, financial guarantees and loan commitments, as measured at amortized cost. iii. Reclassifications Financial asset - Policy applicable starting January 1, 2018 Financial assets are not reclassified subsequent to their initial recognition, except in the period after Grupo Aval’s entities changes its business model for managing financial assets. Financial asset - Policy applicable until December 31, 2017 Subsequent to their initial classification, financial assets shall not be reclassified to other categories, except for special circumstances. In the event of such circumstances, transfers were accounted for as follows: · From the category “fair value through profit or loss” to other categories: assets were recognized at their fair value. · From available-for-sale to held-to-maturity investment: the fair value amount recognized immediately before the reclassification to held-to-maturity category became the basis for the amortized cost. In reclassification of an asset with a fixed maturity, any gain or loss previously recognized in other comprehensive income (OCI) and the difference between the newly established amortized cost and the maturity amount were both amortized over the remaining term of the financial asset using the effective interest rate method. However, any gain or loss previously recognized in other comprehensive income were immediately reclassified from equity to profit or loss if the asset is subsequently impaired. For a financial asset with no stated maturity, any gain or loss previously recognized in other comprehensive income were reclassified from equity to profit or loss when the financial asset is disposed of or impaired. · From held-to-maturity investment to available-for-sale: the difference between the amortized cost and fair value as of the reclassification date were recognized in other comprehensive income. iv. Derecognition Financial assets Grupo Aval derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire (see also (v)), or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which Grupo Aval neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. On derecognition of a financial asset, the difference between the carrying amount of the asset (or the carrying amount allocated to the portion of the asset derecognized) and the sum of (i) the consideration received (including any new asset obtained less any new liability assumed) and (ii) any cumulative gain or loss that had been recognized in OCI is recognized in profit or loss. From 1 January 2018 any cumulative gain/loss recognized in OCI in respect of equity investment securities designated as at FVOCI is not recognized in profit or loss on derecognition of such securities, as explained in (2.11). Any interest in transferred financial assets that qualify for derecognition that is created or retained by Group Aval is recognized as a separate asset or liability. Grupo Aval en

JUDGEMENTS AND CRITICAL ACCOUNT

JUDGEMENTS AND CRITICAL ACCOUNTING ESTIMATES IN APPLYING ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2018
Disclosure Of Accounting Judgements And Estimates Explanatory [Abstract]
Disclosure of accounting judgements and estimates [text block]	NOTE 3 – JUDGEMENTS AND CRITICAL ACCOUNTING ESTIMATES IN APPLYING ACCOUNTING POLICIES Grupo Aval’s management makes estimates and assumptions that affect the amounts recognized in the consolidated financial statements and the carrying value of the assets and liabilities within the fiscal year. The judgments and estimates are continuously evaluated and are based on the experience of management and other factors, including the occurrence of future events that are believed as reasonable under the current circumstances. Management also makes certain judgments besides those which involve estimates during the process of applying accounting policies. The judgments that have the most significant effects on the amounts recognized in the consolidated financial statements and the estimates that may cause an important adjustment to the value in the carrying value of assets and liabilities in the following year include the following: A. Judgements Information about judgements made in applying accounting policies that have the most significant effects on the amounts recognized in the consolidated financial statements is included in the following notes. · Applicable to 2018 only – Note 2 (2.6) (ii) – classification of financial assets: assessment of the business model within which the assets are held and assessment of whether the contractual terms of the financial asset are solely payments of principal and interest on the principal amount outstanding. · Applicable to 2018 and prior year – Note 2(2.1) – determination of control over investees. B. Assumptions and estimation uncertainties Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment in the year ended is included in the following notes. · Applicable to 2018 only – Note 4 (4.1) – impairment of financial instruments: assessment of whether credit risk on the financial asset has increased significantly since initial recognition and incorporation of forward-looking information in the measurement of ECL. – Note 16 – recognition of concession agreements. · Applicable to 2018 and prior year – Note 5 – determination of the fair value of financial instruments with significant unobservable inputs. – Note 22 – measurement of defined benefit obligations: key actuarial assumptions. – Note 19 – recognition of deferred tax assets: availability of future taxable profit against which carry-forward tax losses can be used. – Note 17 – impairment testing for CGUs containing goodwill: key assumptions underlying recoverable amounts. – Notes 23 – recognition and measurement of provisions and contingencies: key assumptions about the likelihood and magnitude of an outflow of resources. – Note 4(4.1) – impairment of financial instruments: key assumptions used in estimating recoverable cash flows.

RISK MANAGEMENT

RISK MANAGEMENT	12 Months Ended
	Dec. 31, 2018
Disclosure of Risk Management [Abstract]
Disclosure of risk management [text block]	NOTE 4 – RISK MANAGEMENT Grupo Aval and its subsidiaries in the financial sector, Banco de Bogotá, Banco de Occidente, Banco AV Villas, Banco Popular and Corficolombiana manage risk pursuant to the applicable regulations in each country where they operate and according to Grupo Aval’s internal policies. The risk framework requires that strong risk management practices are integrated in key strategic, capital and financial planning processes and day-to-day business processes across Grupo Aval, with a goal of ensuring risks are appropriately considered, evaluated and responded to in a timely manner. Grupo Aval employs a risk management process, referred to as identify, measure, monitor and control, as part of the daily activities, among all the risks Grupo Aval manages. Lines of Defense: In addition to the role of Executive Officers in managing risk, management has had clear ownership and accountability across the three lines of defense: 1) First Line of defense: Business Units, 2) Second Line of defense: mainly concentrated in the Independent Risk Management departments and 3) Third line of defense: Corporate Audit. · Business Units: Include the business lines as well as the Technology and Operations areas which are responsible for appropriately assessing and effectively managing all of the risks associated with their processes. · Independent Risk Management Units: Risk management areas include risk management and compliance departments. Grupo Aval has other control functions that are not part of these areas but are key in the risk mitigation of non-financial risks, including legal, human resources and certain activities within the Financial and Administrative processes. · Corporate Audit: Corporate Audit maintain its independence from the first and second lines of defense by reporting directly to the Audit Committee or the Board. Corporate Audit provides independent assessment and validation through testing of key processes and controls across Grupo Aval. The following sections outline the key risks that are inherent in business activities of the subsidiaries in the financial sector: Financial risks Credit risk: the risk of financial loss if a debtor fails to meet its contractual obligations. Market risk: the risk of loss arising from potential adverse changes in the value of the subsidiaries in the financial sector assets and liabilities or future results, resulting from changes in market variables such as interest rates, foreign exchange rates, equity prices, commodity prices, implied volatilities or credit spreads; this includes the structural interest rate and foreign exchange risks. Liquidity risk: the risk of being unable to meet contractual and contingent obligations or that the subsidiaries in the financial sector do not have the appropriate amount, composition and tenor of funding and liquidity to support the assets and liabilities requirements (funding liquidity risk). Also includes the capability to manage its investment portfolio in terms of liquidity, duration and currency (market liquidity risk). Interest rate risk: It is the current or potential risk to equity and profits of a financial subsidiary that arise from adverse movements in interest rates, which affect the positions of the banking book. Capital risk: the risk that any of the subsidiaries in the financial sector have an insufficient level and composition of capital to support its business activities and associated risks during both normal economic environments and under stressed conditions. Risk related to the management of capital requirements and adequacy. Grupo Aval’s subsidiaries in the financial sector are making efforts in the implementation of better practices related with ALCO/ALM committees in order to establish risks policies, limits and systems to measure, monitor and control the funds transfer pricing curve, interest rate risk in banking book and liquidity risk management. Concentration risk: the risk of potential losses due to a single counterparty, sector or country’s exposure, which may threaten the ability to maintain the core operations of the entity. Non-Financial Risks Operational risk: the risk of loss resulting from inadequate or failed processes or systems, human factors, or due to external events that are neither market nor credit related such as technology related events. Conduct risk: risk derived from inappropriate practices in the dealings with customers, and the treatment of products offered to each particular customer. Compliance and regulatory risk: risk arising from non-compliance with the legal framework, internal rules or the requirements of regulators and supervisors. Reputational risk: risk that an action, transaction, investment or event will reduce trust in Grupo Aval’s integrity or competence by its various constituents, including clients, media, public opinion, counterparties, investors, regulators, employees and the broader public. Moreover, Grupo Aval financial holding will supervise the key risks inherent in the management of financial conglomerates in 2019, as outlined and in compliance with Law 1870 of 2017. The risks which financial conglomerates are exposed to: Contagion risk: risk corresponding to the probability of affecting the stability of one or more subsidiaries, in consequence of the deterioration of the general conditions of subsidiaries belonging to the holding. Strategic risk: risks resulting from changes in Grupo Aval’s strategy or business plan due to changes in general business conditions associated with strategic decisions, such as investments. Strategic risk also includes the risk of poor implementation of decisions and lack of capacity to respond to changes in the business environment. Concentration risk: the risk of potential losses due to a single exposure to a counterparty, sector or country, which has the capacity to affect the main operation of the entity. Objective and General Guidelines of risk management Grupo Aval’s and its subsidiaries of the financial sector objective is to maximize returns for its investors, through proper risk management. The guiding principles of risk management at Grupo Aval are as follows: a) Make risk management a part of every institutional process; b) Collective decision making for commercial lending of significant amounts; c) Extensive and in-depth industry and market knowledge, as a result of the leadership and experienced, stable and seasoned senior management; d) Clear risk management policies based on a top-down approach with respect to: · Compliance with know-your-customer policies; · Commercial loans credit structure based on a clear identification of sources of repayment and of cash flow generation capacity of the borrower; e) Use of common credit analysis tools for analysis and loan pricing tools across Grupo Aval’s subsidiaries of financial sector; f) Diversification of the commercial loan portfolio with respect to industries and economic groups; g) Specialization in consumer product niches; h) Extensive use of continuously updated scoring models and credit ratings updated permanently to ensure quality growth of consumer loans with high credit quality; i) Conservative policies in terms of: · Trading portfolio composition with bias towards lower volatility instruments; · Proprietary trading positions; and · The variable compensation for the trading staff; j) k) l) m) Main premises for risk management Grupo Aval´s risk culture is based on the principles indicated in the section above and they are transmitted to all subsidiaries of the financial sector and business units. The strategy related with risk management is supported by the following guidelines: a) In all of Grupo Aval´s subsidiaries of the financial sector, the risk function is independent of the business units. The segregation of functions between the business areas and the risk areas in charge of risk measurement analysis, control and reporting, provide sufficient independence and autonomy for proper risk control. b) The decision-making process at the subsidiaries of the financial sector requires that transactions of significant amounts are sent to decision centers such as risk committees. The frequency of meetings of these committees ensures a high degree of agility regarding the resolution of proposals and continuous participation of senior management for administering the different risks. c) Grupo Aval has corporate policies for the risk to which it is exposed. The business and risk units of Grupo Aval and its subsidiaries of the financial sector hold orientation meetings based on approaches to risk that are consistent with Grupo Aval´s risk culture. d) Grupo Aval has implemented a risk system that is updated on a regular basis to address new conditions in the markets and the risks to which Grupo Aval is exposed. e) There are adequate information systems to monitor risk exposure, to ensure compliance and approval policies and, if necessary, to implement proper corrective actions. f) Key risks are analyzed on a regular basis, not only when risks materialize or when problems occur during the normal course of business but in a continuous process of risk management. g) Grupo Aval and its subsidiaries of the financial sector have training courses on risk culture for all hierarchy levels in the organization. h) A risk culture integrated throughout the organization, consisting on a series of attitudes, values, skills and guidelines to action. Corporate structure of the risk function Governance of the risk function seeks to ensure that risk decisions are taken appropriately and efficiently and that risks are effectively controlled. The goal is to guarantee that risks are managed in accordance with the guidelines set forth by Grupo Aval. The corporate structure for risk management at the subsidiaries of the financial sector is comprised of the following, top-level risk governance bodies: · Board of Directors · Risk Management committees · Risks Management units · Administrative process of risk management · Internal Audit Departments Responsibility for the control and management of risk and, in particular setting Grupo Aval’s risk profile rests ultimately on Grupo Aval’s Board of Directors. The Board has the power to delegate the various committees and it is supported by risk management committees at the subsidiaries of the financial sector. Grupo Aval Board of Directors The Board of Directors is the body responsible for establishing the risk profile and for the approval of the general scope for risk management. Corporate Risk Unit It is the corporate risk unit, led by Grupo Aval’s Chief Risk Officer, with functions including the following among others: 1) identification and definition of best practices for corporate risk management; 2) support the board and the financial subsidiaries in the construction of the risk appetite. 3) state and ensure the compliance of policies and guidelines that ensure an adequate risk exposure. Boards of Directors of the Financial Subsidiaries The Boards of Directors of Grupo Aval’s financial subsidiaries are responsible for adopting the following decisions, among others, with respect to the proper organization of each entity’s risk management system: · Define and approve the general policies and strategies related to the internal control system for risk management; · Approve the entity’s policies in relation to the management of different risks; · Approve trading and counterparty limits, in accordance with defined attributions; · Approve exposure limits for different types of risks; · Approve different procedures and methodologies for risk management; · Ensure the adequate assignment of the human, physical and technical resources required for effective risk management; · Set forth the responsibility and attributes assigned to the different positions and areas in charge of risk management; · Create and define the functions of the committees that are needed to ensure the proper organization, control and monitoring of operations that generate risk exposure and define their functions; · Approve internal control systems for risk management; · Require management of Grupo Aval’s financial subsidiaries to submit periodic reports on the levels of exposure to several risks; · Evaluate recommendations and corrective actions proposed for risk management processes; · Follow-up at regular board meetings, based on periodic risk-management reports submitted by the Audit Committee on measures taken to control or mitigate the more relevant risks; and · Approve the nature, scope strategic business and markets in which each subsidiary of the financial sector will operate. Risk Committees Grupo Aval´s subsidiaries of the financial sector have, among others, risk management committees comprising members of the Board of Directors which periodically discuss, measure, control and analyze the credit risk management system (SARC for its initials in Spanish), market risk management systems (SARM for its initials in Spanish) and operating risk management system and the management of the business continuity plan (SARO-PCN for its initials in Spanish). Additionally, the subsidiaries of the financial sector also have an asset-liability committee (ALCO) which takes decisions regarding asset and liability management and evaluates the effectiveness of the liquidity risk management system (SARL for is initials in Spanish). Compliance of legal risks is monitored by the General Secretaries of each subsidiary of the financial sector. The functions of these committees include, among others, the following: · Proposing adequate policies for managing the risks concerning each committee and the applicable business processes and methodologies to the Board of Directors of each entity; · Systematically review the entity’s exposure to risks and take any corrective actions when necessary; · Ensuring that actions taken at each subsidiary of the financial sector in relation to risk management are consistent with previous defined levels of risk appetite; and · Approve decisions that are within the approval limits established for each committee by each of the financial subsidiaries’ Board of Directors The risk committees of Grupo Aval subsidiaries of the financial sector are detailed below: I. Risk Management Committees of the financial sector subsidiaries The objective of these committees is to establish policies, procedures and strategies for comprehensive management with respect to credit, market, liquidity, operational, money laundering and terrorism financing risks. Its main duties involve: · Measuring the entity’s risk profile; · Designing systems to monitor and follow up on levels of exposure to the different risks the entity faces; · Reviewing and proposing to the Board of Directors the level of tolerance and degree of exposure to risk the entity is willing to assume in the course of its business. This implies evaluating alternatives to align risk appetite in the various risk management systems; · Assessing the inherent risks involved in entering new markets, products, segments and countries, among others; and · Ensuring that risk management and measurement methodologies are appropriate, given the characteristics and activities of the entity. II. Assets and Liabilities Committee of the financial sector subsidiaries The objective of these committees is to support senior management by establishing risk policies, limits and systems to monitor and measure the effectiveness of the interest rate risk in the banking book management and the liquidity risk management systems (SARL for its initial in Spanish). The main functions, among others, are: · Establishing adequate procedures and mechanisms for liquidity management. · Monitoring liquidity and interest rate risk exposure reports and Fund Transfer Pricing (FTP) process. · Identify the origin of risk exposure through sensitivity analysis, in order to assess the probability of lower returns for the entity or assess the necessity of new liquidity resources. III. Audit Committee of Aval and Audit Committees of Subsidiaries of the Financial Sector: The Audits Committees’ principal objective is to evaluate and monitor the Internal Control System. The following are the description of the functions for these committees: · Proposing, for approval of the Board of Directors, the structure, procedures and methodologies required for the operation of the Internal Control System. · Assessing the structure of the internal control of the entity, in order to establish if the procedures are designed reasonably to protect its assets, as well as those of third parties under its administration and custody, and if there are controls to verify that transactions are being properly authorized and registered. For such purpose, the areas in charge of the administration of the various systems of risk, the Statutory Auditor and the Internal Auditor submit the established periodical reports to the Committee as well as other reports that the members of the Committee may require. · Monitoring risk exposure levels, their potential consequences and establishing risk control or mitigation actions. Risk Vice-Presidency or its equivalent in the subsidiaries of the financial sector The Risk Vice-Presidency and its equivalent that figure within the organizational structure of the subsidiaries of the financial sector have, among others, the following functions: · Oversee adequate compliance of the policies and procedures established by the Board of Directors and the various committees for risk management. · Designing methodologies and procedures to be followed by the administration for risk management. · Establishing ongoing monitoring procedures to allow timely identification of any deviation relating to compliance of the policies established for risk management. · Preparing timely reports for the different risk committees, the Board of Directors of each subsidiaries of the financial sector and for the government entities in charge of control and supervision of the subsidiaries of the financial sector in relation with compliance of risk policies. Administrative Processes of Risk Management In accordance with the respective business models, each subsidiary of the financial sector of Grupo Aval has well defined structures and procedures, including manuals on administrative processes that must be followed for managing different risks. The entities use the different technological tools, for the analysis, monitoring and control of the various risks. Internal Audit The internal audit units at each subsidiary of financial sector act under independent criteria and, in performance of their functions, carry out periodic independent compliance assessments of risk management policies and procedures followed by the entities for the managing of risks and environment controls. Reports are submitted directly to the audit committees, responsible for monitoring the risk to which they are exposed to and adopt corrective measures, if necessary. In addition to the Internal Audit Units at the financial sector subsidiaries, there is a corporate control unit which ensures the compliance of our financial sector subsidiaries with corporate policies. The corporate controller participates in the audit committees of the most significant subsidiaries. The corporate control unit performs periodic independent audits of Grupo Aval´s subsidiaries to monitor their compliance with risk management policies. Its reports are presented directly to senior management at each of the subsidiaries and to the corresponding audit committees including the audit committee of the holding company. Grupo BAC Credomatic Grupo BAC Credomatic (hereinafter referred to as BAC) has its main operations located in Central America and is consolidated under Banco de Bogotá through its subsidiary Leasing Bogotá Panamá. BAC has its own policies, functions and risk management procedures, subject to approval by Banco de Bogotá. Risk management and periodic risk surveillance are carried out through the following bodies of corporate governance which were, established both at a regional level as well as in the countries where Grupo BAC operates: Committee of Integral Risk Management, Committee of Assets and Liabilities (ALCO), Committee of Compliance, Credit Committee, Investment Committee and Audit Committee. Regarding credit risk management, BAC has a centralized structure, led by a Chief Risk Officer (CRO), who reports to the CEO. The Regional Credit Committee, whose members include the CEO, the CRO, and members of the Corporate Risk Unit of Grupo Aval and Banco de Bogotá, is responsible for submitting credit policies and procedures at a regional level for the Board of Directors approval. This committee is responsible for monitoring the loan portfolio. The regional credit committee is also responsible for the final decision on loans exceeding the credit limits delegated to each individual country. While local risk managers report to the local head, observance of regional policies and procedures are reported to the CRO. Regarding market risk, BAC manages an investment policy and asset and liability policy at a regional level, setting guidelines for establishing country and counterparty risk limits, as well as limits to foreign currency positions and guidelines for liquidity risk management, interest rate and exchange rate risks. The Regional Committee of Assets and Liabilities, which is composed by members of BAC Board of Directors, is responsible for the establishment of regional risk management policies. Non-financial Subsidiaries With the objective of strengthening the second line of defense for its risk management and internal control, as well as to expand the scope of its oversight to non-financial subsidiaries the Government, Risk and Compliance (GRC) Vice Presidency was created in Corficolombiana. During 2018, a diagnosis to measure the status of the GRC's capabilities was carried out. This lead to the initiation of the corporate project that involved the strengthening the team incharge, the design of methodologies, risk management and compliance reports as well as their subsequent implementation in the non-financial subsidiaries throughout 2019. This activity is currently under development and includes subsidiaries in the infrastructure, energy and gas sectors. The Board of Directors of each subsidiary is given the faculty to establish guidelines in terms of risk policies and risk monitoring processes. For companies falling within the non-finacial sector that are part of Corficolombiana’ s equity investment portfolio, each entity will coordinate the implementations of risk management systems in line with those of Corficolombiana, based on the good practices established by law and those found in the Corficolombiana’s polices. Moreover, Corficolombiana must ensure that, controlled non-financial sector subsidiaries follow Grupo Aval’s guidelines of Grupo Aval in relation to risk management. Control Environment The risk management model of the financial sector subsidiaries promotes a control environment that ensures the appropriate control and integrated view for all individual risks. This control is executed at all the business segments and for each type of risk in order to ensure that the exposures and overall risk profile are within the framework of the mandates established by both the Board of Directors and the regulators. The main elements ensuring effective control are: · The assignment of responsibilities in risk-generating functions through decision-making and due control of their activity; · Specialized control of each risk factor; · The supervision of all risks; · The assessment of control mechanisms; and · Independent assessment by internal audit New Risk Framework by the Colombian Superintendency of Finance (SFC) From 2019 on, the Colombian Superintendency of Finance (SFC) will supervise the financial holdings in Colombia, including Grupo Aval. The implementation of this supervision will be achieved in stages. On September 17, 2017, the regulation of financial conglomerates (Law 1870 of 2017) was issued, which, together with Decree 774 of May 6, 2018, established the minimum adequate capital level for Grupo Aval as a financial conglomerate. The level of adequate capital for financial conglomerates cannot be less than the sum of the capital of subordinates in the financial sector. However, there are detailed rules for determining the capital of the financial conglomerate, including the deduction of capital investments in certain subsidiaries. Decree 774 of 2018 established an 18-month transition period, which expires on November 6, 2019 and, therefore, the minimum capital requirement of Grupo Aval will be based on the consolidated financial statements as of December 31, 2019. Additionally, on August 6, 2018, Decree 1477 was issued, which aligns the capital requirements of Colombian financial institutions with the Basel III standards, specifically, the definitions of level 1 and level 2 of capital and weighted risk assets and incorporating reserves for the conservation of capital for important systemic entities. Decree 1477 includes a transition period of 18 months, which expires on February 6, 2020 and, therefore, the obligation of the financial subordinates of Grupo Aval to comply with the requirements of Decree 1477 will be based on the financial statements at March 31, 2020. The preliminary calculations, based on the consolidated information of the subsidiaries of Grupo Aval as of September 30, 2018, have been prepared incorporating the requirements established in Decrees 774 and 1477. These calculations indicate that all the subordinates of the financial sector and the Group Aval, like the holding company of the conglomerate, may comply with the mentioned requirements. Besides this, the SFC is implementing a new risk framework ‘SIAR’ (comprehensive risk management system for its acronym in Spanish). The objective of this framework is to implement and build a strong risk culture inside the organizations, with the necessary controls in order to operate adequately and clearly define policies and procedures to: · Identify, measure, control and monitor all the risks of the company as a whole and in each one of its business units; · Establish clear information and communication policies; · Establish a continuous training program in risk management at all levels in the company; · Generate a strong risk culture in which the anticipation of macroeconomic and key financial variables is present. · Have strong ethic values as well as integrity at every level of the company; · Clearly defined organizational structure; and · Establish a risk appetite ‘MAR’ (Risk Appetite Framework for its acronym in Spanish). The SIAR will include at least the following risks, to managed by the companies with a comprehensive view: · Credit; · Market; · Liquidity; · Operational; · Country; and · Counterpaty
Disclosure of risk management, credit risk [text block]	Financial Risk Review 4.1 Credit Risk 4.1.1 Consolidated Credit Risk Exposure Grupo Aval´s subsidiaries are exposed to credit risk, consisting of the risk of financial loss as a result of the failure of the debtor to meet its contractual obligations in financial transactions on a timely and complete manner. Exposure to credit risk for Grupo Aval and its subsidiaries is a result of credit activities and transactions with counterparties. The maximum exposure to credit risk of Grupo Aval, at a consolidated level is reflected in the carrying value of financial assets in the statement of financial position of Grupo Aval as of December 31, 2018 and 2017 as follows: Account Assets December 31, 2018 December 31, 2017 (1) Cash and cash equivalents (**) Ps. 21,955,901 Ps. 16,531,811 Debt securities held for trading 3,762,978 2,650,536 Debt securities FVTPL 31,256 — Debt securities FVOCI (2017 – available-for-sale) 18,935,757 17,790,127 Debt securities at amortized cost (2017 – held-to-maturity) 2,972,616 2,899,039 Derivatives instruments 768,686 328,392 Hedging derivatives 30,138 55,261 Loans Commercial 102,408,977 99,428,894 Consumer 55,455,064 50,382,895 Mortgage 18,592,103 16,151,299 Microcredit 425,697 409,688 Other accounts receivable FVTPL 2,488,414 2,282,611 Other accounts receivable at amortized cost 7,069,120 4,466,134 Total financial assets with credit risk Ps. 234,896,707 Ps. 213,376,687 Financial instruments with credit risk outside of the statement of financial position at its nominal value Financial guarantees and letters of credit 3,446,601 3,495,921 Credit commitments 27,479,080 23,727,317 Total exposure to credit risk outside of the statement of financial position Ps. 30,925,681 Ps. 27,223,238 Total maximum exposure to credit risk Ps. 265,822,388 Ps. 240,599,925 (**) Not including funds in custody by the entity (cash, tellers, vaults), because there is no credit risk regarding Grupo Aval entities. (1) For guarantees and commitments to extend the credit amounts, the maximum exposure credit risk is the amount of the commitment. Credit risk is mitigated by guarantees and collaterals as described in note 4.1.4 Mitigation of Credit Risk, Collateral and Other Credit Risk Enhancements. Each of Grupo Aval´s financial subsidiaries assume the credit risk for both the credit activity itself, which includes commercial, consumer, mortgage and microcredit credit lending and treasury activities, including interbank loans, investment portfolio management, derivatives and foreign currency trading activities, among others. Despite being independent businesses, the nature of insolvency risk of the borrower or counterparty is similar and therefore the criteria in which they are evaluated is similar. Loans are recorded at amortized cost on the statement of financial position and are classified as commercial, consumer, mortgages, and microcredit. Due to the significance of the financial leasing portfolio for Grupo Aval, these amounts are also presented separately in all the tables for disclosure purposes: December 31, 2018 Balance in Statement Leasing presentation Balance according to Portfolio segment of financial position adjustment disclosure Commercial Ps. 102,408,977 Ps. (9,858,952) Ps. 92,550,025 Consumer 55,455,064 (254,483) 55,200,581 Residential mortgage 18,592,103 (1,312,741) 17,279,362 Microcredit 425,697 — 425,697 Financial leasing — 11,426,176 11,426,176 Total portfolio Ps. 176,881,841 Ps. — Ps. 176,881,841 December 31, 2017 Balance in Statement Leasing presentation Balance according to Portfolio segment of financial position adjustment disclosure Commercial Ps. 99,428,894 Ps. (9,892,400) Ps. 89,536,494 Consumer 50,382,895 (226,764) 50,156,131 Residential mortgage 16,151,299 (1,047,766) 15,103,533 Microcredit 409,688 — 409,688 Financial Leasing — 11,166,930 11,166,930 Total portfolio Ps. 166,372,776 Ps. — Ps. 166,372,776 4.1.2 Loan and Counterparty Approval Process for subsidiaries in the financial sector The principles and rules for credit management and credit risk for each financial subsidiary are contained in the credit manual, both for commercial banking activity and treasury activity. Evaluation criteria to measure credit risk follows the principal instructions set forth by the Treasury and Credit Risk Committees. The maximum authority regarding lending is the Board of Directors for each bank, which approves the general policy and has the capacity to approve large size transactions. In the normal banking operation, authorizations for approval of loans and lines of credit depend on the amounts, credit quality, tenor and security collateral / guarantees offered by the client. The Board of Directors of each bank has delegated part of its lending authorities to different committees and executives who process the credit requests and are responsible for the analysis and follow-up. Additionally, for the approval of credits, certain considerations are taken into account including but not limited to, the probability of default and the recovery percentage of guarantees received, tenor and concentration by economic sector. Regarding the operations for treasury activities, the Board of Directors approves the lines of credit for counterparts. Risk control is essentially carried out through three mechanisms: annual approval of lines of credit, quarterly solvency evaluations for issuers and a report on concentrations for each client or economic group. Although each financial subsidiary is responsible for its credit decisions and risk management, Grupo Aval as a holding, through the Corporate Risk Unit oversees the implementation of appropriate risk management controls at the financial subsidiaries and has established upward loan reporting processes. The holding’s risk management staff meets on a weekly basis to discuss our subsidiaries’ loan portfolio, developments in industry, risks and opportunities. Grupo Aval also coordinates loan syndication among our banks to effectively leverage the combined equity of our banks and manage any risk issues. Each subsidiary of the financial sector has a Credit Risk Management System, which is managed by the credit vice-presidency or its equivalent, and includes, among others, the design, implementation and evaluation of policies and risk mechanisms defined by the Credit and Treasury Risk Committee and the Board of Directors. The operation of the Credit Risk Management System has resulted in the integration of risk measurement tools into the credit approval process in each of the financial subsidiaries. Each subsidiary of the financial sector has two models for evaluating credit risk for the approval of commercial loans: the financial ratings model, statistical models based on financial information of the client, which are used in the approval process and for the management and follow-up of the portfolio. The second model is based on the client´s financial ratings and its historical payment behavior with the bank, used in the process of client rating. For retail loans (including mortgage loans and auto loans) models are based on sociodemographic variables and the historical payment behavior of the clients. 4.1.3 Credit quality analysis The Credit-risk Monitoring Process and Credit rating of the loan portfolio The monitoring process and follow-up of credit risk of each financial subsidiary is carried out in several steps including the follow-up and management of daily collections based on overdue portfolio analysis by vintages, risk level rating, permanent follow-up of high risk clients, restructuring processes of operations and the receipt of foreclosed assets as payment. The subsidiaries of the financial sector generate a list of past due loans and based on such analysis, different financial subsidiaries personnel carry out collection procedures by telephone calls, emails, or written collection. On a monthly basis the financial subsidiaries classify each client in one of these categories: Category A-Normal, B‑Subnormal, C-Deficient, D-Doubtful recovery and E- Unrecoverable, based on the statistical models that each subsidiary has. On a quarterly basis each financial subsidiary evaluates the commercial portfolio by economic sectors, where macro-sectors are evaluated with the purpose of monitoring the concentration per economic sector and the risk level of each one. Every six-months each financial subsidiary carries out an individual analysis of the credit risk based on updated financial information of the client, payment record, collateral security/guarantees received, credit bureau reports and other qualitative information available; based on the information, clients are classified by risk level as mentioned above. Each of the risk categories is explained as follows: Category A — “Normal risk”: Loans and finance leases in this category are appropriately serviced. The debtor’s financial statements or its projected cash flows, as well as all other credit information available to us, reflect adequate paying capacity. Category B — “Acceptable risk, above normal”: Loans and finance leases in this category are adequately serviced and protected. But there are weaknesses which may potentially affect, on a transitory or permanent basis, the debtor’s paying capacity or its projected cash flows, to the extent that, if not timely corrected, would affect the collection of the credits as contracted. Category C — “Appreciable risk”: Loans and finance leases in this category have debtors with insufficient paying capacity or relate to projects with insufficient cash flow, which may compromise the normal collection of the obligations. Category D — “Significant risk”: Loans and finance leases in this category have the same deficiencies as loans in category C, but to a larger extent; consequently, the probability of collection is highly doubtful. Category E — “Risk of non-recoverability”: Loans and finance leases in this category are deemed uncollectible. For mortgage loans and microcredits, the previous classification by risk levels is carried out monthly considering the number of days past due. In addition, the credit risk exposure is administered through a periodic analysis of the borrowers (or potential borrowers) to determine the repayment capacity of capital and interest. The credit risk exposure is also mitigated partly by obtaining collateral security, corporate and personal guarantees. The following table sets out information about the credit quality of financial assets measured at amortized cost. Unless specifically indicated, for financial assets, the amounts in the table represent gross carrying amounts. For loan commitments and financial guarantee contracts, the amounts in the table represent the amounts committed or guaranteed, respectively. Based on the foregoing classifications, each financial subsidiary establishes and executes collection strategies directed at maximizing the collection of the loan portfolio. As of December 31, 2018, and 2017, the following is a summary of the portfolio credit by risk level rating. Explanation of the terms: Stage 1, Stage 2 and Stage 3 are included in Note 2 (2.6) (ix), and explained in detail in Note 4.1.5 (Measurement of ECL). December 31, 2018 December 31, Stage 1 Stage 2 Stage 3 Total 2017 (1) Commercial “A” Normal risk Ps. 83,532,853 Ps. 195,949 Ps. 183,263 Ps. 83,912,065 Ps. 82,217,135 “B” Acceptable risk 565,266 1,220,838 491,062 2,277,166 2,093,079 “C” Appreciable risk 88,802 227,429 2,680,090 2,996,321 2,735,103 “D” Significant risk 1,290 36,295 1,548,951 1,586,536 1,620,293 “E” Risk of nonrecoverability 3,008 10,350 1,764,579 1,777,937 870,884 Commercial portfolio gross balance Ps. 84,191,219 Ps. 1,690,861 Ps. 6,667,945 Ps. 92,550,025 Ps. 89,536,494 Consumer “A” Normal risk 47,782,665 1,815,283 19,295 49,617,243 45,794,015 “B” Acceptable risk 799,326 1,004,173 12,805 1,816,304 1,364,520 “C” Appreciable risk 128,850 1,149,796 458,474 1,737,120 1,232,881 “D” Significant risk 23,896 228,509 1,070,538 1,322,943 1,256,089 “E” Risk of nonrecoverability 6,568 37,819 662,584 706,971 508,626 Consumer portfolio gross balance Ps. 48,741,305 Ps. 4,235,580 Ps. 2,223,696 Ps. 55,200,581 Ps. 50,156,131 Mortgage “A” Normal risk 15,478,116 563,066 20,965 16,062,147 14,208,051 “B” Acceptable risk 72,557 337,093 3,059 412,709 324,925 “C” Appreciable risk 13,547 418,754 35,318 467,619 326,237 “D” Significant risk 151 11,632 101,164 112,947 79,707 “E” Risk of nonrecoverability 1,686 5,196 217,058 223,940 164,613 Mortgage portfolio gross balance Ps. 15,566,057 Ps. 1,335,741 Ps. 377,564 Ps. 17,279,362 Ps. 15,103,533 Microcredit “A” Normal risk 344,424 2,897 194 347,515 341,194 “B” Acceptable risk 162 10,542 — 10,704 11,871 “C” Appreciable risk 71 7,519 — 7,590 6,742 “D” Significant risk 35 2,980 5,671 8,686 7,342 “E” Risk of nonrecoverability 31 1,436 49,735 51,202 42,539 Microcredit portfolio gross balance Ps. 344,723 Ps. 25,374 Ps. 55,600 Ps. 425,697 Ps. 409,688 Financial leasing “A” Normal risk 9,818,788 79,008 26,299 9,924,095 9,874,243 “B” Acceptable risk 267,541 183,862 61,275 512,678 489,323 “C” Appreciable risk 45,418 56,561 217,937 319,916 394,534 “D” Significant risk 178 10,403 477,820 488,401 309,726 “E” Risk of nonrecoverability 446 114 180,526 181,086 99,104 Financial leasing portfolio gross balance Ps. 10,132,371 329,948 963,857 11,426,176 Ps. 11,166,930 Gross balance of financial assets per credit portfolio Ps. 158,975,675 Ps. 7,617,504 Ps. 10,288,662 Ps. 176,881,841 Ps. 166,372,776 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2.5 (B) Credit quality of financial assets (excluding loan portfolio) The following is the breakdown of the different financial assets excluding loan portfolio, by credit risk level and type of issuer based on the rating issued by the independent credit rating agency. A financial asset is considered investment grade if its credit rating is BBB- or higher by Standard & Poor’s, or Baa3 or higher by Moody’s, or F3 or higher by Fitch Ratings Colombia S.A, or BRC3 or higher by BRC of Colombia. A financial asset is considered speculative or non-investment grade if its credit rating is BB+ or lower by Standard & Poor’s, or Ba1 or lower by Moody’s, or BB+ or lower by Fitch Ratings Colombia S.A, or BRC4 or lower by BRC of Colombia. a) December 31, 2018 December 31, 2017 Investment grade Sovereign (*) Ps. 2,270,642 Ps. 1,231,219 Other public entities (**) 128,546 70,064 Corporate 30,207 68,286 Financial entities 1,101,157 1,007,540 Total investment grade Ps. 3,530,552 Ps. 2,377,109 Speculative grade Sovereign (*) Ps. 98,155 Ps. 92,931 Central banks 12,914 34,095 Financial entities 117,594 129,985 Total Speculative grade Ps. 228,663 Ps. 257,011 Without grade or not available Corporate Ps. 3,763 Ps. 16,416 Total without grade or not available Ps. 3,763 Ps. 16,416 Ps. 3,762,978 Ps. 2,650,536 (a) Investments measured at fair value in the Statement of Financial Position, see note 2 (2.8). (*) A sovereign credit rating considers the risk of Treasury issuer or similar agency (government debt portfolio). (**) Derived from operations with government entities; including public administrations in general including regional and local governments. b) Investments in debt securities at FVTPL December 31, 2018 December 31, 2017 (1) Investment grade Corporate 31,256 — Total investment grade Ps. 31,256 Ps. — (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5). c) December 31, 2018 December 31, Stage 1 Stage 2 Stage 3 Total 2017 (1) Investment grade Sovereign (*) Ps. 11,492,538 Ps. — Ps. — Ps. 11,492,538 Ps. Other public entities (**) 497,634 — — 497,634 662,702 Corporate 135,985 — — 135,985 148,738 Financial entities 2,732,127 — — 2,732,127 2,975,485 Multilaterals 118,657 — — 118,657 104,885 Total investment grade Ps. 14,976,941 Ps. — Ps. — Ps. 14,976,941 Ps. Speculative grade Sovereign (*) Ps. 1,994,205 Ps. 54,587 Ps. — Ps. 2,048,792 Ps. 1,432,083 Central banks 1,066,822 64,918 — 1,131,740 1,356,874 Corporate 61,485 132,817 — 194,302 274,450 Financial entities 375,352 201,002 — 576,354 642,592 Total speculative grade Ps. 3,497,864 Ps. 453,324 Ps. — Ps. 3,951,188 Ps. 3,705,999 Default Corporate Ps. — Ps. — Ps. Ps. 7,628 Ps. 34,516 Total default Ps. — Ps. — Ps. Ps. 7,628 Ps. 34,516 Without grade or not available Corporate Ps. — Ps. — Ps. — Ps. — Ps. 563 Total without grade or not available Ps. — Ps. — Ps. — Ps. — Ps. 563 Ps. 18,474,805 Ps. 453,324 Ps. Ps. 18,935,757 Ps. (*) Sovereign credit rating is considered as the risk of the Treasury issuer or a similar agency (government debt portfolio). (**) Derived from operations with government entities; including public administrations in general (includes regional and local governments). (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5). d) (1) ) December 31, 2018 December 31, Stage 1 Stage 2 Stage 3 Total 2017 (1) Investment grade Sovereign (*) Ps. 32,321 Ps. — Ps. — Ps. 32,321 Ps. 27,288 Other public entities (**) 2,931,172 — — 2,931,172 2,839,286 Financial entities 9,123 — — 9,123 8,635 Total investment grade Ps. 2,972,616 Ps. — Ps. — Ps. 2,972,616 Ps. 2,875,209 Without grade or not available Financial entities — — — — 23,830 Total without grade or not available Ps. — Ps. — Ps. — Ps. — Ps. 23,830 Ps. 2,972,616 Ps. — Ps. — Ps. 2,972,616 Ps. 2,899,039 (*) Sovereign credit rating is considered as the risk of the Treasury issuer or a similar agency (government debt portfolio). (**) Derived from operations with government entities; including public administrations in general (includes regional and local governments). (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5). e) December 31, 2018 December 31, 2017 Investment grade Sovereign (*) Ps. 2,488,414 Ps. 2,282,611 Total investment grade Ps. 2,488,414 Ps. 2,282,611 (*) Sovereign credit rating is considered as the risk of the Treasury issuer or a similar agency (government debt portfolio). f) Evaluated using general approach The following table provides information about the exposure to credit risk and ECLs for other accounts receivable and contract assets for corporate customers as of December 31, 2018. The credit quality of these financial assets follows the methodology of the probability of default of Debt securities and other liquid financial assets (See note 4.1.5). December 31, 2018 December 31, Stage 1 Stage 2 Stage 3 Total 2017 Investment grade Sovereign (*) Ps. 2,631,235 Ps. — Ps. — Ps. 2,631,235 Ps. 786,018 Financial entities 340,265 — — 340,265 314,848 Total investment grade Ps. 2,971,500 Ps. — Ps. — Ps. 2,971,500 Ps. 1,100,886 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5). (*) Sovereign credit rating is considered as the risk of the Treasury issuer or a similar agency (government debt portfolio). The following table provides information about the exposure to credit risk and ECLs by segment for accounts receivable related to gas and energy services, the methodology to estimate the ECLs is the same as in Loan and Receivable (See note 4.1.5): December 31, 2018 December 31, Stage 1 Stage 2 Stage 3 Total 2017 Segmentation Contributions Ps. 71,903 Ps. — Ps. — Ps. 71,903 Ps. 130,552 Gas 232,445 134,519 77,693 444,657 375,914 Energy 37,455 3,563 98,154 139,172 99,841 Other accounts receivable 54,046 — — 54,046 126,253 Total segmentation Ps. 395,849 Ps. 138,082 Ps. 175,847 Ps. 709,778 Ps. 732,560 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5). Evaluated using simplified approach Grupo Aval uses probability matrix to measure the ECL for other receivables from individual customers, which have small balances. The weighted-average loss rate is calculated using a “rolling rate” method base on the probability that a receivable will progress through successive stages of default until write off. The rolling rate is calculated for exposures in different segments and separately accordance with the following common features of credit risk. The following table provides information about the exposure to credit risk and ECLs for trade receivables and contract assets from individual customers as of December 31, 2018. Weighted- Gross average loss carrying Loss Credit- December 31, 2018 rate amount allowance impaired 0–30 days past due 1.15 % 2,846,086 32,622 — 31–60 days past due 6.70 % 111,636 7,485 — 61–90 days past due 9.39 % 31,625 2,970 — More than 90 days past due 47.32 % 398,495 188,583 398,495 Ps. 3,387,842 Ps. 231,660 The loss rates are based on the experience of real credit loss in the last seven years. These rates are multiplied by factors to reflect the differences between the economic conditions during the period in which the historical data were collected, the current conditions and the opinion of the entities of Grupo Aval about the economic conditions during the expected lives of the accounts receivable. g) The details of credit rating determined by independent credit rating agents of counterparties in trading derivative and hedge derivatives are as follows. Credit worthiness December 31, 2018 December 31, 2017 Investment grade Ps. 755,218 Ps. 312,426 Speculative 9,926 503 Without grade or not available 33,680 70,724 Total Ps. 798,824 Ps. 383,653 The following table shows an analysis of counterparty credit exposures arising from derivative transactions: Trading derivatives Total Central counterparties Notional Fair Notional Fair amount value amount value 2018 Derivative assets 768,686 5,997,311 — Derivative liabilities 811,305 1,977,284 32 2017 Derivative assets 328,392 4,558,472 — Derivative liabilities 298,665 5,324,037 — Hedge derivatives Total Central counterparties Notional Fair Notional Fair amount value amount value 2018 Derivative assets 2,493,849 30,138 1,280,402 — Derivative liabilities 8,722,602 195,539 4,601,646 — 2017 Derivative assets 4,233,151 55,261 1,632,248 — Derivative liabilities 3,377,903 13,464 1,541,236 — Derivative transactions of Grupo Aval are collateralized by cash of Ps. 214,379 as of December 31, 2018, and of Ps. 12,205 as of December 31, 2017, see note 4.1.10 “Offset of financial assets and financial liabilities”. h) The Group held cash and cash equivalents of Ps. 28,401,283 as of December 31, 2018 (2017: Ps. 22,336,838). The cash and cash equivalents are held with central banks and financial institution counterparties that are rated at least AA- to AA+, based on Standard & Poor’s ratings. The following table shows an analysis of counterparty credit exposures: December 31, 2018 December 31, 2017 Investment grade Ps. 13,988,666 Ps. 9,391,266 Central bank 3,794,411 3,820,538 Financial entities 10,194,255 5,570,728 Speculative grade 7,707,990 6,679,084 Central bank 7,264,128 5,993,380 Financial entities 443,862 685,704 Without grade or not available 259,245 461,461 Central bank 2,338 1,469 Financial entities 256,907 459,909 Others — 83 Cash and cash equivalent with third parties Ps. 21,955,901 Ps. 16,531,811 Cash held by entity (**) 6,445,382 5,805,027 Total Ps. 28,401,283 Ps. 22,336,838 (**) Cash held by each Grupo Aval’s bank in custody in vaults, ATMs and cash. 4.1.4 Mitigation of Credit Risk, Collateral and Other Credit Risk Enhancements The exposure to credit risk for each of Grupo Aval´s financial subsidiaries is reduced by collateral and other credit enhancements. The existence of collateral security / guarantees can be a necessary measure but not a determinant for the approval of a credit. Credit risk policies of Grupo Aval require an evaluation of the debtor’s payment capacity based on the debtor´s ability to generate the resources needed for the timely and complete payment of its obligations. Credit risk management includes the following activities: · Analysis of credit risk: For commercial lending, tools are used for the individual evaluation of credits based on payment capacity supported on cash generation, credit rating models with inputs from historical and projected financial condition, and on the payment history of the debtor with the financial sector. For consumer lending (including mortgages and auto financing), scoring models are based on socio-demographic variables and payment history. · Evaluation of collateral security / guarantees with appropriate debt coverage in accordance with the credit policies of each financial subsidiary. Collateral security includes mortgages on real estate, pledge on assets, cash deposits and investments. · Evaluation of the liquidity of the collateral security / guarantees received. The methods used for the evaluation of collateral security / guarantees are aligned with the market practices and include the use of independent real estate appraisers or the market value of securities. All collateral security / guarantees must be legally evaluated and drafted following the parameters of applicable legal regulations. Residential mortgage lending The following tables stratify credit exposures from mortgage loans and advances to retail customers by ranges of loan-to-value (LTV) ratio. LTV is calculated as the ratio of the gross amount of the loan – or the amount committed for loan commitments – to the value of the collateral. The value of the collateral for residential mortgage loans is based on the collateral value at origination updated based on changes in house price indices. For credit-impaired loans the value of collateral is based on the most recent appraisals. December 31, 2018 December 31, 2017 LTV ratio Less than 50% Ps. 6,414,097 Ps. 5,243,564 51 – 70% 6,678,883 5,912,568 71 – 90% 4,890,501 4,412,544 91 – 100% 426,810 419,521 More than 100% 181,812 163,102 Total Ps. 18,592,103 Ps. 16,151,299 Credit-impaired mortgage loans December 31, 2018 December 31, 2017 LTV ratio Less than 50% Ps. 99,462 Ps. 74,258 51 – 70% 146,568 108,222 More than 70% 177,821 131,990 Total Ps. 423,851 Ps. 314,469 As of December 31, 2018, and 2017, the following chart shows the detail of the credit portfolio per type of guarantees received as support of credits granted by Grupo Aval at a consolidated level: Finance December 31, 2018 Commercial Consumer Mortgages Microcredit Leases (1) Total Unsecured credits Ps. 49,721,150 Ps. 47,305,167 Ps. 3,572 Ps. 289,518 Ps. 44,221 Ps. 97,363,628 Loans secured by other banks 362,128 7,378 — — 6,102 375,608 Collateralized credits: Mortgages 506,687 68,191 17,200,445 4,040 4,644 17,784,007 Other real estate 15,943,414 1,428,950 4,432 542 116,884 17,494,222 Investments in equity instruments 502,408 553 — — — 502,961 Deposits in cash or cash equivalents 1,147,457 156,229 — — — 1,303,686 Leased machineries and vehicles — — — — 9,221,950 9,221,950 Fiduciary agreements, standby letters and guarantee funds 9,316,479 38,516 70,174 97,946 361,515 9,884,630 Pledged income 3,262,967 303 — — 10,397 3,273,667 Pledges 3,316,543 5,773,201 477 668 6,379 9,097,268 Other assets 8,470,792 422,093 262 32,983 1,654,084 10,580,214 Total gross loan portfolio Ps. Ps. Ps. Ps. Ps. Ps. Finance December 31, 2017 Commercial Consumer Mortgages Microcredit Leases (1) Total Unsecured credits Ps. 51,074,506 Ps. 42,566,151 Ps. 6,859 Ps. 275,701 Ps. 52,179 Ps. 93,975,396 Loans secured by other banks 350,562 4,284 — — 4,803 359,649 Collateralized credits: Mortgages 865,857 62,174 15,025,672 4,811 6,127 15,964,641 Other real estate 13,126,277 1,248,808 4,290 1,168 120,909 14,501,452 Investments in equity instruments 433,041 1,077 — — — 434,118 Deposits in cash or cash equivalents 2,172,911 141,891 — 101 — 2,314,903 Leased machineries and vehicles — — — — 9,151,139 9,151,139 Fiduciary agreements, standby letters and guarantee funds 8,129,469 36,204 64,250 102,698 364,938 8,697,559 Pledged income 3,032,277 266 22 — 11,478 3,044,043 Pledges 3,859,626 5,728,752 1,597 1,290 20,452 9,611,717 Other assets 6,491,968 366,524 843 23,919 1,434,905 8,318,159 Total gross loan portfolio Ps. 89,536,494 Ps. 50,156,131 Ps. Ps. Ps. Ps. 166,372,776 (1) See Note 4.1.1 4.1.5 Amounts arising from Expected Credit Loss (ECL) Definition of Default Grupo Aval considers a financial asset to be in default when: · The borrower is unlikely to pay its credit obligations to Grupo Aval in full. Without prejudice, Grupo Aval takes actions such as realizing collateral (if any is held); · The borrower is more than 90 days past due on any material credit obligation other than mortgages to Grupo Aval. Overdrafts are considered past due once the customer has breached the allowed tenor or been advised of the reduction of the limit; · For mortgages when the borrower is more than 180 days past due; · The borrower has filed for bankruptcy proceedings, such as Law 1116; or · In the case of fixed income financial securities, the following concepts among others apply: · External rating of the issuer or instrument in rating D under Standard & Poor’s and Fitch Ratings scale or rating C under Moody’s scale; · Contractual payments are not made on the due date; · There is a very high probability of suspension of payments; · The issuer likely to go bankrupt or file for bankruptcy or similar action; or · The financial asset no longer has an active market given its financial difficulties. In assessing whether a borrower is in default, Grupo Aval considers indicators the following: · Qualitative: e.g. breaches of non-financial covenants; · Quantitative: e.g. breaches of financial covenants, overdue status and non-payment of another obligation of the same issuer to Grupo Aval; and · Based on internally historical or developed data and obtained from external sources. Inputs used in the assessment of whether a financial instrument is in default and their significance may vary over time to reflect changes in circumstances. Inputs, assumptions and techniques used to estimate expected credit loss allowance Credit risk models measures the exposure for individual counterparties, on the basis of the following parameters: Probability of default (PD), loss given default (LGD) and exposure at default (EAD). For a specific credit facility (Loans, debt securities, other liquid financial assets, other accounts receivable, loan commitments and financial guarantee contracts) the product of these three parameters results in the expected credit loss. See accounting policy in Note 2 (2.6 ix). Measurement of ECL The key inputs for the measurement of ECLs are usually the term structures of the following variables: · Probability of default (PD); · Loss given default (LGD); and · Exposure at default (EAD). The estimation of these parameters depends on the credit facility. Loans methodology uses information derived from internally developed statistical models, comprising both quantitative and qualitative factors, and other historical data. On the other hand, debt securities methodology incorporates relevant external market information or international credit ratings. Grupo Aval estimates LGD parameters based on the history of recovery rates of claims against defaulted counterparties. The LGD models considers the structure, collateral, seniority of the claim, counterparty industry and recovery costs of any collateral that is integral to the financial asset. For loans secured/ guaranteed by real estate, loan-to-value (LTV) ratios will be a key parameter in determining LGD. Estimates are calibrated for different economic scenarios and, for real estate lending, to reflect possible changes in property prices. EAD represents the expected exposure in the event of default. Grupo Aval derives the EAD from the current exposure to the counterparty and potential changes to the current amount allowed under the contract, including amortization and prepayments. The EAD of a financial asset is the gross carrying amount at default. For lending commitments and financial guarantees, the EAD considers the amount drawn, as well as potential future amounts that may be drawn or repaid under the contract, which are estimated based on historical observations and forward-looking forecasts. Subject to using the Lifetime PD for financial assets for which credit risk has significantly increased, Grupo Aval measures ECLs considering the risk of default over the maximum
Disclosure of risk management, market risk [text block]	4.2 Market Risk Market risk refers to the risk that a change in the level of one or more market prices, rates, indices, volatilities, correlations or other market factors, such as liquidity, will result in losses in a position or in the portfolio. Grupo Aval´s financial subsidiaries (namely Banco de Bogotá, Banco de Occidente, Banco Popular, Banco AV Villas, Corficolombiana, AFP Porvenir and the trust companies (Fiduciarias) of the financial subsidiaries) actively participate in money markets, foreign exchange markets and capital markets, for both of their books (for balance sheet risk management and trading) and to provide financial services to their customers. This is done subject to established policies and risk levels. In that regard, they manage different financial asset portfolios within the allowed limits and risk levels. Market risk arises from open positions of Grupo Aval´s financial subsidiaries in debt security investment portfolios, derivatives and equity instruments. These risks are created by changes in factors such as interest rates, inflation, foreign currency exchange rates, share prices, credit margins of instruments and their volatility, as well as the liquidity in the markets where Grupo Aval operates. The various business units and trading desks are responsible for ensuring that market risk exposures are well-managed and prudent. The risk management groups and the management help ensure that these risks are measured and closely monitored. A variety of limits and controls are designed to control price and liquidity risk. Market risk is monitored through various measures: statistically (using Value-at-Risk models and related analytical measures); by measures of position sensitivity; and through routine stress testing conducted in collaboration with the business units by the Market Risk Department. The material risks identified by these processes are summarized in reports produced by the Market Risk Department that are circulated to, and discussed with, senior management. For purposes of our analysis, market risk has been segmented into two categories; trading book risk due to changes in interest rates and exchange rates, and the price risks of investments in equity securities and mutual funds. 4.2.1 Trading Book Risk Grupo Aval´s financial subsidiaries trade financial instruments for various reasons. The following are the main ones. · To offer products tailored to specific customer needs. Some of these products are designed to hedge the financial risks of customers. · To take advantage of arbitrage among different yield curves, assets and markets, and to obtain returns with an adequate use of capital. · To hedge asset and liability risk positions on proprietary positions, to act on behalf of customers or to take advantage of arbitrage opportunities mainly in foreign exchange and interest rates in both local and foreign markets. In carrying out these operations, Grupo Aval´s financial subsidiaries take risks, within a set of predetermined limits. These risks are mitigated with the use of derivative products and other financial instruments but mainly with the accomplishment of stablished limits that are permanently monitored by control areas. The following is a breakdown of Grupo Aval’s financial assets and liabilities exposed to trading risk held at December 31, 2018 and 2017. Account December 31, 2018 December 31, 2017 (1) Financial assets Debt financial assets Trading Ps. 3,762,978 Ps. 2,650,536 Investments in debt securities at FVTPL 31,256 — Investments in debt securities at FVOCI (at 2017 Available for sale (1) ) 18,935,757 17,790,127 Total debt securities Ps. 22,729,991 Ps. 20,440,663 Derivative instruments Ps. 768,686 Ps. 328,392 Hedging derivatives 30,138 55,261 798,824 383,653 Total financial assets Ps. 23,528,815 Ps. 20,824,316 Liabilities Derivative instruments 811,305 298,665 Hedging derivatives 195,539 13,464 Total financial liabilities 1,006,844 312,129 Net position Ps. 22,521,971 Ps. 20,512,187 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 4.2.2 Description of Objectives, Policies and Processes to Manage Trading Risk The financial subsidiaries of Grupo Aval participate in money markets, foreign exchange markets and capital markets to meet their needs and those of their customers, pursuant to established policies and risk levels. In this respect, they manage different portfolios of financial assets within the limits and risk levels allowed. The risks assumed by Grupo Aval´s financial subsidiaries in transactions related to the trading or treasury book are consistent with the overall business strategy and its risk appetite; which is based on the market depth for each instrument, its impact on risk-weighted assets and regulatory capital, the profit budget established for each business unit, and the balance sheet structure. Business strategies are established on the basis of approved limits, in an effort to balance the risk / return relationship. Moreover, there is a structure of limits consistent with Grupo Aval’s general philosophy and is based on capital levels, earnings performance and risk tolerance. The Market Risk Management System (SARM in Spanish) allows Grupo Aval´s financial subsidiaries to identify, measure, control and monitor the market risk they are exposed to in carrying out their operations. There are several scenarios in which Grupo Aval´s financial subsidiaries are exposed to trading risks. · Interest Rate Risk Grupo Aval’s financial subsidiaries are exposed to interest rate risk as a result of its market-making activities and proprietary trading in interest rate sensitive financial instruments (e.g., risk arising from changes in the level or implied volatility of interest rates, the timing of mortgage prepayments, the shape of the yield curve and credit spreads for credit sensitive instruments). · Foreign Exchange Risk Grupo Aval’s financial subsidiary’s portfolios are exposed to foreign exchange rate and implied volatility risk as a result of market making negotiation in foreign currencies and from maintaining foreign exchange positions. · Equity Price Risk and Mutual Fund Risk Grupo Aval´s financial subsidiaries are exposed to equity price risk in specific investments and are exposed to mutual fund risk in short term investments in money market or mutual funds. 4.2.2.1 Risk Management Grupo Aval financial subsidiaries manage their trading positions by employing a variety of risk mitigation strategies. These strategies include diversification of risk exposures and hedging through the purchase or sale of positions in related securities and financial instruments, including a variety of derivative products (e.g., futures, forwards, swaps and options). The financial subsidiaries manage their market risk associated with its trading activities on a decentralized basis, even though the Holding supervises the amount of risk taken in order to ensure that it accomplishes the global appetite. Senior management and the boards of directors of the banking and financial subsidiaries and its financial subsidiaries play an active role in managing and controlling risk. They do so by analyzing a protocol of established reports and presiding over a number of committees that comprehensively monitor - both technically and fundamentally - the different variables that influence domestic and foreign markets. This process is intended to support strategic decisions. Analyzing and monitoring the risks that Grupo Aval´s financial subsidiaries take in their operations is essential for decision making and to assess potential effects on its profit or loss. An ongoing analysis of macroeconomic conditions is necessary in order to achieve an ideal combination of risk, return and liquidity. The risks assumed in financial operations are reflected in a limit structure that includes different types of instruments, specific trading strategies, the market depth in which Grupo Aval´s financial subsidiaries operate, the impact on risk-weighted assets and regulatory capital, as well as the balance sheet structure, according to its risk appetite framework. These limits are monitored daily and reported weekly to the Board of Directors of Grupo Aval´s financial subsidiaries. In order to minimize interest rate and exchange rate risks in specific positions and transactions, Grupo Aval´s financial subsidiaries manage hedging strategies by taking positions in derivative instruments such as non-deliverable forwards (NDF) related to securities, money market transactions and foreign exchange forwards. 4.2.2.2 Methods Used to Measure Trading Risk The Market Risk Department independently reviews the Company’s trading portfolios on a regular basis from a market risk perspective utilizing VaR (internal models and standard) and other quantitative and qualitative risk measures and analyses. Each trading business and the market risk departments also use, as appropriate, measures such as sensitivity to changes in interest rates, prices, implied volatilities and time decay to monitor and report market risk exposures. Stress testing, which measures the impact on the value of existing portfolios of specified changes in market factors for certain products, is performed periodically and is reviewed by trading division risk managers, desk risk managers and the market risk department. Reports summarizing material risk exposures are produced by the market risk departments and are disseminated to senior management. The Boards of Directors and the Risk Committees of Grupo Aval´s financial subsidiaries approve a framework of limits based on the value-at-risk related to the annual budget. Regulatory VaR (standard calculation) The Regulatory VaR calculation is primarily used for the Superintendency of Finance’s solvency ratio calculations. Each bank has internal models approved for capital purposes; however, they also maintain internal models in order to manage their day to day risk and profit decisions. The Superintendency of Finance methodology is based on the Basel II model. This model applies only to the financial subsidiaries’ investment portfolio and excludes investments classified as “held to maturity” and other specific non-trading positions. Total market risk is calculated on a daily basis by aggregating the VaR for each risk exposure category on a ten-day horizon using risk factors calculated in extreme market stress scenarios. VaR at month-end comprises part of the capital adequacy ratio calculation (as set forth in Decree 2555 of 2010). The Superintendency of Finance’s rules require our financial subsidiaries to calculate VaR for the following risk factors: interest rate risk, foreign exchange rate risk, variations in stock price risk and fund risk; correlations between risk factors are not considered. The fluctuations in the portfolio’s VaR depend on sensitivity factors determined by the Superintendency of Finance, modified duration and changes in balances outstanding. The ten-day horizon is defined as the average time in which an entity could sell a trading position in the market. The VaR calculation for each subsidiary of the financial sector is the aggregate of the VaR of the entity and its subsidiaries. Grupo Aval´s financial subsidiaries also have parametric and non-parametric models based on the value-at-risk (VaR) method designed for internal management. These models enhance market-risk management by identifying and analyzing variations in risk factors (interest rates, exchange rates and price indexes) with respect to the value of the different instruments that constitute the portfolios. JP Morgan Risk Metrics and the historical simulation method are two examples of such models. With the use of these methods profit and capital at risk projections have improved resource allocation among the different business units. The methods also allow comparisons of activities in different markets and identification of the riskiest positions in treasury activities. These tools are also used to determine limits on traders’ positions and to review positions and strategies rapidly in response to changes in market conditions. VaR models have inherent limitations, partially because they rely on historical data, which may not be an indicative of future market conditions. VaR models could overestimate or underestimate the value at risk if market conditions vary significantly and they do not calculate the greatest possible loss. That’s why each company uses additional measurement tools in order to compensate for the VaR limitations; therefore, Expected Shortfall analysis, stress test and back tests are part of the risk measurement tools in the financial subsidiaries. The methods used to measure VaR are assessed regularly and back-tested to check their efficiency. In addition, Grupo Aval´s financial subsidiaries have tools to carry out portfolio stress and/or sensitivity tests, using extreme scenario simulations. Additionally, there are limits according to the "risk type" associated with each of the instruments comprising the different portfolios. These limits are related to sensitivity or impact on the value of the portfolio as a result of fluctuations of specific risk factors such as: interest rate (Rho), exchange rate (Delta) and volatility (Vega). Grupo Aval´s financial subsidiaries have counterparty and trading limits for each trader for the different trading platforms in the markets where they operate. These limits are controlled daily by the back and middle offices of each entity. Trading limits for individual traders are assigned based upon the individual´s level in the organization, market and trading experience and product and portfolio management knowledge. There is also a process to monitor the prices of fixed-income bonds issued abroad published by Precia, the local investment price provider. We monitor daily if there are any significant differences in prices provided by Precia and those observed on other sources of information such as the Bloomberg platform. In addition, fixed income bonds are subject to a qualitative liquidity analysis to determine the market depth for these type of instruments. Finally, the daily transaction monitoring process includes controlling different aspects of trading, such as terms of negotiation, non-conventional or off-market transactions, and related party transactions. According to the standard model, the market value-at-risk (VaR) for Grupo Aval´s financial subsidiaries consolidated at their level of December 31, 2018 and 2017 was as follows: December 31, 2018 December 31, 2017 Basis points of Basis points of Bank Value regulatory capital Value regulatory capital Banco Bogotá 924,767 116 829,846 109 Banco de Occidente 189,871 75 184,223 56 Banco Popular 162,888 93 125,265 79 Banco AV Villas 37,942 41 18,394 20 Corficolombiana 219,656 12 159,214 9 The following tables show the VaR calculation relating to each of the risk factors described above and based on the Superintendency of Finance Methodology (Regulatory VaR) for the years ended December 31, 2018 and 2017, for a ten-day horizon for each of our Colombian banking subsidiaries (including Corficolombiana). The averages, minimums and maximums are determined based on end-of-the-month calculations. Banco de Bogotá S.A Maximum, Minimum and Average VaR Values December 31, 2018 Minimum Average Maximum Period end Interest rate 352,595 387,828 420,474 Exchange rate 234,509 263,363 298,257 Shares 6,647 7,605 8,335 Mutual funds 200,510 226,030 266,906 VaR portfolio 828,688 884,826 969,931 Maximum, Minimum and Average VaR Values December 31, 2017 Minimum Average Maximum Period end Interest rate 309,368 342,043 400,828 Exchange rate 12,424 52,925 304,429 Shares 7,234 7,068 8,099 Mutual funds 187,698 184,582 196,197 VaR portfolio 523,306 586,619 829,846 Banco de Bogota´s market risk weighted assets remained on average 7.9% of the total risk-weighted assets during the year ended December 31, 2018 and 7.5% on the year ended December 31, 2017. Banco de Occidente S.A Maximum, Minimum and Average VaR Values December 31, 2018 Minimum Average Maximum Period end Interest rate 184,106 199,399 218,732 Exchange rate 595 1,697 3,817 Shares — — — — Mutual funds 2,820 3,849 4,526 VaR portfolio 187,521 204,945 227,074 Maximum, Minimum and Average VaR Values December 31, 2017 Minimum Average Maximum Period end Interest rate 140,044 162,463 184,209 Exchange rate 1,424 3,119 7,034 Shares — — — — Mutual funds 2,580 2,702 2,811 VaR portfolio 145,108 168,284 190,502 Banco de Occidente´s market risk weighted assets remained on average 5.6% of the total risk-weighted assets during the year ended December 31, 2018 and 5.9% for the year ended December 31, 2017. Banco Popular S.A Maximum, Minimum and Average VaR Values December 31, 2018 Minimum Average Maximum Period end Interest rate 115,829 136,338 154,233 Exchange rate 2,125 3,867 6,135 Shares 929 949 963 Mutual funds 6,583 6,971 10,420 VaR portfolio 126,533 148,125 168,310 Maximum, Minimum and Average VaR Values December 31, 2017 Minimum Average Maximum Period end Interest rate 103,535 115,033 122,910 Exchange rate 4 662 3,329 Shares 945 965 967 Mutual funds 1,019 1,085 1,203 VaR portfolio 105,635 117,745 126,486 Banco Popular´s market risk weighted assets remained on average 8.4% of the total risk-weighted assets during the year ended December 31, 2018 and 7.5% on the year ended December 31, 2017. Banco Comercial AV Villas S.A Maximum, Minimum and Average VaR Values December 31, 2018 Minimum Average Maximum Period end Interest rate 12,884 35,893 48,978 37,115 Exchange rate 0 985 2,738 30 Shares — — — — Mutual funds 177 1,441 4,455 797 VaR portfolio 15,844 38,319 52,166 37,942 Maximum, Minimum and Average VaR Values December 31, 2017 Minimum Average Maximum Period end Interest rate 12,563 37,998 89,381 14,206 Exchange rate — 670 1,572 1,448 Shares — — — — Mutual funds 481 1,394 6,373 2,741 VaR portfolio 15,198 40,061 89,960 18,394 Banco AV Villas’ market risk weighted assets remained on average 3.8% of the total risk-weighted assets during the year ended December 31, 2018 and 2.2% on the year ended December 31, 2017. Corficolombiana S.A Maximum, Minimum and Average VaR Values December 31, 2018 Minimum Average Maximum Period end Interest rate 187,983 201,515 211,039 208,375 Exchange rate 436 4,490 7,707 436 Shares 10,125 10,370 10,954 10,125 Mutual funds 699 856 1,020 720 VaR portfolio 205,505 217,231 226,727 219,656 Maximum, Minimum and Average VaR Values December 31, 2017 Minimum Average Maximum Period end Interest rate 81,334 104,098 144,232 144,232 Exchange rate 656 2,332 4,041 4,041 Shares 9,691 10,601 11,072 10,800 Mutual funds 116 891 2,669 140 VaR portfolio 95,312 117,460 159,214 159,214 Corficolombiana’s market risk weighted assets remained on average 23.8% of the total risk-weighted assets during the year ended December 31, 2018 and 32.3% on the year ended December 31, 2017. As Corficolombiana does not have a relevant number of loans or other significant risk weighted assets, the weight of the market risk weighted assets is higher than in the banks. Investment Price Risk in Equity Instruments Equity Investments As stated above, variations in equity price risk measured based on the regulatory VaR methodology include both equity securities held for trading through profit or losses and non-strategic holdings. In addition, it does not discriminate between listed and unlisted equity investments or between those which consolidate and those which do not. It focuses on investments in non-financial institutions. Holding periods for many of Corficolombiana’s equity investments exceed ten years. Its largest investments have remained in the portfolio for several years and are intended to remain as permanent investments. At December 31, 2018 and at December 31, 2017, the investments subject to regulatory VaR were holdings in Mineros S.A. The following table breaks down our investments subject to regulatory VaR by time since initial investments at December 31, 2018 and 2017. At December 31, 2018 2017 Investment Investment subject to Percentage subject to Regulatory Regulatory of Regulatory Regulatory Percentage of VaR VaR portfolio VaR VaR portfolio More than 36 months 45,706 6,719 100 % 67,538 9,928 100 % Total 45,706 6,719 100 % 67,538 9,928 100 % 4.2.3 Structural foreign exchange risk Grupo Aval´s financial subsidiaries have agencies and subsidiaries offshore and have assets and liabilities in foreign currencies and thus are exposed to changes in the exchange rates, primarily the United States Dollar. Foreign exchange risk is present when there are assets and liabilities denominated in foreign currency, when investments are made in subsidiaries and branches abroad and when there are loan portfolios, and obligations in foreign currency. There is also foreign exchange risk in foreign currency off balance sheet transactions. Subsidiaries of the financial sector in Colombia are authorized by the country’s central bank (Banco de la República) to trade currencies and to maintain balances in foreign currency in accounts abroad. Colombia law allows for banks to maintain a net daily asset or liability position in foreign currency, determined as the difference in foreign currency denominated rights and foreign currency denominated obligations including both on and off-balance sheet positions. On a separate basis, the average of this difference over three business days cannot exceed twenty percent (20%), or thirty percent (30%) in the case of entities obliged to consolidate financial statements, of the entity’s regulatory capital. On a consolidated basis, the average of this difference over three business days (positive or negative) cannot exceed forty percent (40%) of the consolidated entity´s regulatory capital. The maximum and minimum total foreign currency position and the spot foreign currency position are determined according to each entity’s regulatory capital. The regulatory capital that is used is that of the last business day of the prior month at the average of the exchange rate set by the Superintendency of Finance at the end of the previous month or last calculation on a consolidated basis. A substantial amount of Grupo Aval’s foreign currency assets and liabilities are in U.S. dollars. Details on the assets and liabilities in foreign currency held by Grupo Aval at December 31, 2018 and 2017 are shown below: December 31, 2018 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial assets Cash and cash equivalents 4,859 1,075 19,297,896 Investments in debt securities at fair value through profit or loss 121 15 441,801 Investments in debt securities at fair value through OCI 2,201 589 9,068,739 Investments in debt securities at amortized cost 10 — 32,321 Loan portfolio financial assets at amortized cost 15,923 4,706 67,023,090 Trading derivatives 222 1 725,433 Hedge derivatives 9 — 30,138 Other accounts receivable 246 176 1,370,820 Total financial assets 23,591 6,562 97,990,238 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial liabilities Trading derivatives 236 3 776,162 Hedge derivatives 60 — 195,539 Customer deposits 14,914 5,077 64,971,825 Financial obligations 9,457 666 32,899,230 Accounts payable 442 — 1,437,447 Total financial liabilities 25,109 5,746 100,280,203 Net financial asset (liability) position (1,518) 816 (2,289,965) December 31, 2017 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial assets Cash and cash equivalents 3,541 1,052 13,706,552 Investments in debt securities held for trading 134 24 470,430 Investments in securities available-for-sale 2,564 631 9,532,417 Investments in debt securities held-to-maturity 17 — 50,695 Loan portfolio financial assets at amortized cost 16,217 4,500 61,817,662 Trading derivatives 91 1 274,691 Hedge derivatives 19 — 55,261 Other accounts receivable 161 202 1,083,678 Total financial assets 22,744 6,410 86,991,386 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial liabilities Trading derivatives 85 1 256,865 Hedge derivatives 5 — 13,464 Customer deposits 14,572 4,909 58,087,999 Financial obligations 8,624 690 27,808,291 Accounts payable 437 — 1,304,929 Total financial liabilities 23,723 5,600 87,471,548 Net financial asset (liability) position (979) 810 (480,162) Grupo Aval’s financial subsidiaries hedge their foreign exchange exposure using derivatives, especially forwards. The net foreign currency position of each subsidiary is monitored on a daily basis. Grupo Aval has a number of investments in foreign subsidiaries and branches whose net assets are exposed to foreign exchange risk because of the translation of gains or losses for the purpose of consolidating their financial statements. The exposure arising from net assets in foreign operations is hedged primarily with financial obligations, bonds issued to the market and foreign exchange derivative instruments. The following table includes a sensitivity analysis of the foreign exchange effect on Grupo Aval’s equity and the foreign exchange effect on profit before taxes if the peso value of the U.S. dollar increases or decrease by Ps. 100 Colombian Peso per U.S. dollar: December 31, 2018 Increase Decrease Ps.100 per U.S. Ps.100 per U.S. dollar dollar Equity Ps. (33,579) Ps. 33,579 Foreign exchange effect on profit before taxes (53,300) 53,300 December 31, 2017 Increase Decrease Ps.100 per U.S. Ps.100 per U.S. dollar dollar Equity Ps. 9,205 Ps. (9,205) Foreign exchange effect on profit before taxes 15,342 (15,342) 4.2.4 Structural Interest Rate Risk Non-trading instruments consist primarily of loans and deposits. Our financial subsidiaries’ primary market risk exposure in their non-trading instruments is interest rate risk, which arises from the possibility of changes in market interest rates. Such changes in market interest rates affect our financial subsidiaries’ net interest income due to timing differences on the repricing of their assets and liabilities. Our financial subsidiaries are also affected by gaps in maturity dates and interest rates in the different asset and liability accounts. Grupo Aval´s financial subsidiaries are exposed to fluctuations in market interest rates that impact their financial positions and cash flows. They monitor their interest rate risk on a daily basis and set limits to the asset and liability mismatches when they are repriced. Grupo Aval´s financial subsidiaries analyze their interest rate exposure in a dynamic way. Scenario modelling considers renewal of existing positions, financing alternatives and hedges. Considering these scenarios, the financial subsidiaries calculate the profit and loss impact for a given change in interest rates. The following table shows interest rates exposure for assets and liabilities at December 31, 2018 and 2017. In this table, fixed rate instruments are classified according to the maturity date and floating rate instruments are classified according to the re-pricing date. The following analysis includes all the global interest rate exposure in each bucket for our financial subsidiaries: December 31, 2018 Less than From one to From six to More than a Non- Assets one month six months twelve months year interest Total Cash and cash equivalents Ps. 3,110,667 Ps. — Ps. — Ps. — Ps. 25,290,616 Ps. 28,401,283 Investments in debt securities at FVTPL 25,077 376,999 1,216,834 2,175,324 — 3,794,234 Investments in debt securities at FVOCI 131,497 2,056,389 1,163,367 15,584,504 — 18,935,757 Investments in debt securities at amortized cost 671,047 951,850 1,348,691 1,028 — 2,972,616 Service concession arrangements — — — 2,488,414 — 2,488,414 Commercial loans and leases 28,546,532 29,463,725 9,612,217 34,786,503 — 102,408,977 Consumer loans and leases 10,538,797 7,975,944 2,566,425 34,373,898 — 55,455,064 Mortgages and housing leases 7,649,242 1,771,712 419,518 8,751,631 — 18,592,103 Microcredit loans and leases 31,729 17,956 38,304 337,708 — 425,697 Other accounts receivable — — — 3,043,403 4,025,717 7,069,120 Total Assets Ps. 50,704,588 Ps. 42,614,575 Ps. 16,365,356 Ps. Ps. 29,316,333 Ps. Less than From one to From six to More than a Non- Liabilities one month six months twelve months year interest Total Checking accounts Ps. 22,377,653 Ps. — Ps. — Ps. — Ps. 17,325,225 Ps. 39,702,878 Time deposits 9,741,623 28,546,101 15,447,825 13,117,463 — 66,853,012 Saving deposits 36,523,899 20,697,540 — — . — 57,221,439 Other deposits — — — — 582,122 582,122 Interbank and overnight funds 6,099,084 714,994 — — — 6,814,078 Borrowing from banks and other 1,566,524 11,497,277 1,164,075 6,382,890 — 20,610,766 Long-term debt 73,565 3,369,988 656,291 16,040,506 — 20,140,350 Borrowing from development entities 563,370 259,194 1,607,273 1,216,959 — 3,646,796 Total Liabilities Ps. 76,945,718 Ps. 65,085,094 Ps. 18,875,464 Ps. 36,757,818 Ps. 17,907,347 Ps. 215,571,441 December 31, 2017 Less than From one to From six to More than a Non- Assets one month six months twelve months year interest Total Cash and cash equivalents Ps. 2,378,528 Ps. — Ps. — Ps. — Ps. 19,958,310 Ps. 22,336,838 Debt securities held for trading 169,328 497,031 580,030 1,404,147 — 2,650,536 Debt securities available-for-sale 495,315 1,537,630 1,300,390 14,456,792 — 17,790,127 Debt securities held-to-maturity 722,026 832,703 1,338,712 5,598 — 2,899,039 Service concession arrangements — — — 2,282,611 — 2,282,611 Commercial loans and leases 21,760,032 43,162,885 7,089,736 27,416,241 — 99,428,894 Consumer loans and leases 10,003,247 8,953,299 1,731,816 29,694,533 — 50,382,895 Mortgages and housing leases 3,539,706 5,354,545 404,417 6,852,631 — 16,151,299 Microcredit loans and leases 26,553 18,028 38,197 326,910 — 409,688 Other accounts receivable — — — 890,896 3,575,238 4,466,134 Total Assets Ps. 39,094,735 Ps. 60,356,121 Ps. 12,483,298 Ps. 83,330,359 Ps. 23,533,548 Ps. 218,798,061 Less than From one to From six to More than a Non- Liabilities one month six months twelve months year interest Total Checking accounts Ps. 20,597,270 Ps. — Ps. — Ps. — Ps. 15,420,332 Ps. 36,017,602 Time deposits 12,733,132 24,212,202 13,456,116 12,214,713 — 62,616,163 Saving deposits 55,778,677 — — — — 55,778,677 Other deposits — — — — 472,782 472,782 Interbank and overnight funds 4,836,246 134,184 — — — 4,970,430 Borrowing from banks and other 3,249,799 5,801,906 2,200,184 6,953,431 — 18,205,320 Long-term debt 123,261 6,500,197 416,407 12,062,331 — 19,102,196 Borrowing from development entities 523,786 1,353,790 93,154 1,027,360 — 2,998,090 Total Liabilities Ps. 97,842,171 Ps. 38,002,279 Ps. 16,165,861 Ps. 32,257,835 Ps. 15,893,114 Ps. 200,161,260 As part of their management of interest rate risk, to complement the gap analysis, our financial subsidiaries analyze the interest rate mismatches in terms of duration, between their interest-earning assets and their interest-earning liabilities. Different shocks to risk factors (for example Colombian interest rate) allow each bank to review the performance of the gap analysis and the financial margin to movements on the market variables. As of December 31, 2018, if interest rates had been 50 basis points higher with all other variables held constant, Grupo Aval’s income from interest-bearing financial assets would have increased by Ps. 965,789 and the expense of financial liabilities with interest would have increased by Ps. 1,039,332. An increase of 100 basis points in interest rates would have increased the income of financial assets Ps. 1,931,579 and expenses for liabilities Ps. 2,078,664. A reduction of 50 or 100 basis points in interest rates would have reduced income and expenses in the same amounts. For the year ended on December 31, 2017, a 50 basis points increase in interest rates, with all the other variables constant, Grupo Aval´s revenue from interest earning financial assets would have increased by Ps. 893,925 and the expense from interest bearing financial liabilities would have increased by Ps. 973,911. A 100 basis points increase in interest rates would have increased revenues from by Ps. 1,787,849 and expenses by Ps. 1,947,823. A 50 or 100 basis point reduction in interest rates would have decreased income and expenses by the same amounts. The following is a breakdown of interest bearing assets and liabilities, by interest rate type and by maturity, at December 3
Disclosure of risk management, liquidity risk [text block]	4.3 Liquidity Risk Liquidity risk management has always been a basic element of Grupo Aval’s business strategy and a fundamental cornerstone, together with capital, on which the strength of its balance sheet rests. Liquidity risk is related to the inability of Grupo Aval´s financial subsidiaries to fulfill their obligations with customers, financial market counterparties, lenders, suppliers, authorities or other stakeholders at any given moment, in any currency and in any location. Structural liquidity management aims to finance the activity’s recurring nature of each company under optimal terms of time and cost, avoiding taking unwanted liquidity risks. In Grupo Aval, the financing and liquidity model is decentralized and based on autonomous subsidiaries that are responsible for covering their own liquidity needs. Therefore, each entity reviews its available resources on a daily basis in order to control its liquidity risk. Grupo Aval financial subsidiaries are responsible for covering the liquidity needs arising from its current and future activity. In consequence, they will either take deposits from its customers in its area of influence, or by resorting to the wholesale markets where it operates. As a result, Grupo Aval financial subsidiaries have a considerable capacity to attract stable deposits, as well as a significant liquidity to raise funds in the wholesale markets. The policies with respect to liquidity risk at Grupo Aval and our financial subsidiaries are directed at complying with the guidelines established by the Superintendency of Finance (which, in turn, follow some of the main guidelines of Basel II Accord of 2004). These guidelines require that Colombian financial subsidiaries establish a system for the administration of liquidity risks (Sistema de Administración de Riesgo de Liquidez) which includes the identification, measurement, control and monitoring functions required to ensure the management of day to day liquidity requirements, adjust to minimum requirements in terms of liquidity buffers and establish liquidity contingency plans to deal with any unexpected situation. The methodology for the assessment and measurement of liquidity risk at BAC has also strong standards and includes: a) Generation of liquidity GAP analysis by currency for the short and long term, including normal and stressed scenarios. b) Coverage indicators by currency for sight and 30 days, in normal and stressed scenarios c) Prudential regulation indicators of maturity by currency for 1 and 3 months d) Indicator of liquidity coverage by currency according to regulatory provisions. e) Internal measurements to qualify liquidity risk by currency (global liquidity indicator). Therefore, financial subsidiaries controlled by Grupo Aval are required to maintain adequate liquidity positions based on the Superintendency of Finance’s liquidity parameters, using a short-term liquidity index (Indicador de Riesgo de Liquidez), or “IRL,” that measures liquidity for different time horizons from 1 to 90 days. This index is defined as the difference between adjusted liquid assets and net liquidity requirements. Liquid assets include total debt securities adjusted by market liquidity and exchange rate, excluding investments classified as “held to maturity” different from mandatory investments, Central Bank deposits and available cash. Net liquidity requirements are the difference between expected contractual asset and contractual and non-contractual liability cash flows. Cash flows from past due loans are not included in this calculation. Grupo Aval´s financial subsidiaries assess the volatility of deposits, debt levels, the asset and liability structure, the liquidity of different asset types, the availability of lines of credit and the effectiveness of asset and liability management. The objective is to have adequate liquidity to manage possible stress scenarios. The quantification of money market funding is an integral part of the liquidity measurement carried out by each entity. Based on statistical analysis, primary and secondary sources of liquidity are identified in order to ensure funding stability and diversification, and to minimize concentration. Resource availability is monitored on a daily basis, not only to meet reserve requirements, but also to forecast and/or anticipate potential changes in the entities´ liquidity risk profile and make the appropriate changes in strategy. The financial subsidiaries have liquidity warning indicators to analyze the current situation and to implement the adequate strategy. These indicators include the IRL (Indice de Riesgo de Liquidez), deposit concentration levels and use of the Central Bank’s discount window. Senior management of Grupo Aval´s financial subsidiaries monitor the institutions’ liquidity situation and make the necessary decisions in the Asset and Liability Committees. These committees analyze the quality of the liquid assets that must be maintained, the tolerance in terms of liquidity management and minimum liquidity levels. Through the ALCO the senior management also approves policies regarding placement of excess liquidity, strategies for diversification of funding sources to prevent deposit concentration, hedging strategies and changes in the balance sheet structure. Financial subsidiaries in Colombia and other countries must maintain cash on hand and in Central Bank deposits in order to comply with reserve requirements. The reserve requirement calculation is based upon the daily average of the different types of deposits on a biweekly basis. As of December 31, 2018, and 2017, all of Grupo Aval´s financial subsidiaries comply with reserve requirements. Details on the requested percentage in each country are shown below: Requested Percentage Country Details % Colombia Checking account and Savings accounts 11% Time deposits < 18 months 4.5% Guatemala Deposits and Capital raising 11.6% El Salvador 1st Demand deposits (1) 25% 2nd Demand deposits (2) 25% 3rd Debt securities 50% Honduras Demand deposits 12% Mandatory investment in local currency 5% Mandatory investment in foreign currency 12% Nicaragua Daily, Liabilities in local and foreign currency 12% Biweekly, Liabilities in local and foreign currency 14% Costa Rica Deposits in local and foreign currency 15% Capital raising in local and foreign currency 15% (1) This refer to demand deposits in Central Bank or overseas banks. (2) This refer to demand deposits in Central Bank, overseas banks or debt securities issue by the Central Bank. There are no reserve requirements for our subsidiaries located in Panamá because there is no Central Bank to regulate such requirements. The following is a breakdown by different time of the Liquid Assets and the LRI – Liquidity Risk Indicator for the specified time bucket, as per the separate figures of each of our financial subsidiaries at December 31, 2018 and 2017. December 31, 2018 Liquid assets available at the end From 1 to 7 days From 1 to 30 days From 31 to 90 Bank of the year (1) (2) (2) days (2) Banco de Bogotá 10,936,886 10,370,295 8,892,523 321,897 Banco Occidente 5,913,723 5,244,524 4,185,759 1,631,575 Banco Popular 3,622,232 3,305,221 2,505,573 164,075 Banco AV Villas 2,035,362 1,724,944 1,304,447 (37,659) Corficolombiana 1,131,464 585,045 386,081 (159,983) December 31, 2017 Liquid assets available at the end From 1 to 7 days From 1 to 30 days From 31 to 90 Bank of the year (1) (2) (2) days (2) Banco de Bogotá 9,883,150 9,446,780 7,161,523 1,082,066 Banco Occidente 5,685,570 5,470,184 4,552,769 1,346,442 Banco Popular 2,905,827 2,629,285 1,726,392 (256,330) Banco AV Villas 1,776,252 1,701,634 1,506,404 478,347 Corficolombiana 1,603,609 1,059,878 649,166 361,394 (1) Liquid assets are the sum of the assets that are readily convertible to cash. These assets include cash on hand and bank deposits including Central Bank deposits, securities or in money market transactions and have not been used in borrowing operations in the money market. It also includes investments coupons that have been transferred to the entity in debt securities recorded at fair value, investments in mutual funds with no withdrawal restrictions, and debt securities carried at amortized cost, provided they are legally required or “mandatory” investments, subscribed in the primary market and that can be used for money market operations. The value of the liquid assets mentioned above, is calculated at the fair value market price on the date of the assessment. (2) This amount is the remaining value of the liquid assets in the specified time period, or the LRI, that is calculated as the difference among the liquid assets and the liquidity requirement. The liquidity requirement is the difference of contractual cash inflows and contractual and non-contractual cash outflows during the period according to the LRI methodology. The liquidity calculations described above assume normal liquidity conditions, according to the contractual flows and historical experience of each financial subsidiaries. In extreme liquidity events caused by unusual deposit withdrawals, the financial subsidiaries have contingency plans that include available credit lines with other financial institutions and access to special lines of credit with Colombia´s Central Bank, in accordance with current regulations. These lines of credit are granted when required and are collateralized by Colombian government securities and by a portfolio of high quality loans, as specified in the Central Bank regulations. Grupo Aval´s financial subsidiaries did not access the Central Bank special lines of credit during the years ended at December 31, 2018 and 2017. The following is a breakdown by contractual undiscounted cash flows of the financial assets and liabilities including contractual interest receivable and payable at December 31, 2018 and 2017. December 31, 2018 Less than From one to six From six to twelve More than Assets one month months months a year Total Cash and cash equivalents Ps. Ps. — Ps. — Ps. — Ps. 28,450,114 Investments in debt securities at FVTPL 576,072 350,307 1,026,669 2,018,209 3,971,257 Investments in debt securities at FVOCI 163,389 2,272,601 1,547,078 18,292,502 22,275,570 Investments in debt securities at amortized cost 1,691,200 447,674 866,184 1,019 3,006,077 Commercial loans and leases 12,524,966 24,196,186 13,982,791 58,838,873 109,542,816 Consumer loans and leases 6,218,323 12,707,647 7,369,756 45,240,501 71,536,227 Mortgages and housing leases 297,155 1,376,279 1,626,730 32,061,546 35,361,710 Microcredit loans and leases 58,093 125,474 128,180 256,278 568,025 Trading derivatives 476,088 244,385 22,483 14,216 757,172 Hedging derivatives 28,941 4,083 — — 33,024 Other accounts receivable 4,260,837 — 397 2,929,814 7,191,048 Other assets 631,231 — — — 631,231 Total Assets Ps. 55,376,409 Ps. 41,724,636 Ps. 26,570,268 Ps. 159,652,958 Ps. Less than From one to six From six to twelve More than Liabilities one month months months a year Total Checking accounts Ps. 39,708,169 Ps. — Ps. — Ps. — Ps. 39,708,169 Time Deposits 8,375,127 26,030,729 15,605,292 20,730,824 70,741,972 Saving deposits 57,443,560 — — — 57,443,560 Other deposits 582,122 — — — 582,122 Interbank and overnight funds 6,813,329 — — — 6,813,329 Borrowing from banks and other 1,665,739 8,779,185 4,490,249 7,248,223 22,183,396 Long-term debt 138,362 904,752 1,896,186 21,493,625 24,432,925 Borrowing from development entities 145,712 578,545 423,122 3,189,314 4,336,693 Trading derivatives 515,697 236,390 20,305 27,955 800,347 Hedging derivatives 182,849 6,587 6,718 — 196,154 Other liabilities 6,884,154 896,154 67,042 299 7,847,649 Total Liabilities Ps. 122,454,820 Ps. 37,432,342 Ps. 22,508,914 Ps. 52,690,240 Ps. 235,086,316 Less than one From one to From six to More than a Commitments Loans month six months twelve months year Total Guarantees Ps. 2,297,206 Ps. 9,742 Ps. 4,222 Ps. 2,370 Ps. 2,313,540 Standby letters of credit 928,585 208 2 — 928,795 Overdraft facility 306,740 — — — 306,740 Standby credit card facility 20,409,059 — — — 20,409,059 Undrawn approved loans 3,612,600 — — — 3,612,600 Others 394,688 — — — 394,688 Total Commitments Loans Ps. 27,948,878 Ps. 9,950 Ps. 4,224 Ps. 2,370 Ps. 27,965,422 December 31, 2017 Less than one From one to From six to More than a Assets month six months twelve months year Total Cash and cash equivalents Ps. 23,420,225 Ps. — Ps. — Ps. — Ps. 23,420,225 Investments in debt securities held for trading 913,190 310,701 619,023 1,316,239 3,159,152 Investments in securities available-for-sale 622,057 1,968,847 1,810,606 18,818,121 23,219,631 Investments in debt securities held-to-maturity 649,833 934,821 1,576,581 5,946 3,167,181 Commercial loans and leases 14,641,827 30,985,969 15,378,967 66,048,385 127,055,148 Consumer loans and leases 4,524,515 12,114,983 7,186,854 34,943,876 58,770,228 Mortgages and housing leases 263,314 1,228,796 1,434,850 28,060,685 30,987,645 Microcredit loans and leases 49,932 117,240 119,397 261,625 548,194 Trading derivatives 249,305 103,245 33,859 29,329 415,738 Hedging derivatives 52,122 2,657 1,752 — 56,531 Other accounts receivable 3,745,261 238 163 1,013,167 4,758,829 Other assets 482,636 — — — 482,636 Total Assets Ps. 49,614,217 Ps. 47,767,497 Ps. 28,162,052 Ps. 150,497,373 Ps. 276,041,139 Less than one From one to From six to More than a Liabilities month six months twelve months year Total Checking accounts Ps. 40,840,666 Ps. — Ps. — Ps. — Ps. 40,840,666 Time Deposits 9,583,488 21,734,913 15,150,201 21,094,851 67,563,454 Saving deposits 58,656,060 — — — 58,656,060 Other deposits 471,645 — — 34,275 505,920 Interbank and overnight funds 4,274,983 166,891 — — 4,441,874 Borrowing from banks and other 1,963,636 6,359,672 4,262,502 8,417,134 21,002,945 Long-term debt 52,468 5,780,195 531,963 18,902,134 25,266,760 Borrowing from development entities 36,954 258,909 301,372 4,338,700 4,935,935 Trading derivatives 120,429 377,898 3,918 7,107 509,351 Hedging derivatives 13,345 119 — — 13,464 Other Liabilities 6,517,069 58,605 50,583 — 6,626,258 Total Liabilities Ps. 122,530,743 Ps. 34,737,201 Ps. 20,300,540 Ps. 52,794,200 Ps. 230,362,686 Less than one From one to From six to More than a Commitments Loans month six months twelve months year Total Guarantees Ps. 2,591,109 Ps. 2,158 Ps. — Ps. 3,066 Ps. 2,596,333 Standby letters of credit 1,080,986 154,068 — 56 1,235,110 Overdraft facility 75,225 — — — 75,225 Standby credit card facility 19,816,305 — — — 19,816,305 Undrawn approved loans 4,468,837 — — — 4,468,837 Others 242,910 — — — 242,910 Total Commitments Loans Ps. 28,275,372 Ps. 156,226 Ps. — Ps. 3,122 Ps. 28,434,720
Disclosure of risk management, regulatory capital management [text block]	4.4 Regulatory capital management As of December, 31 2018, Grupo Aval is not subject to requirements of minimum capital; consequently, regulatory capital management of Grupo Aval focuses on complying with requirements at the financial subsidiaries level, pursuant to the rules established under Colombian law and regulation or under the laws and regulation of the jurisdictions where the subsidiaries operate. Grupo Aval’s financial subsidiaries are subject to a “Total Solvency Risk Ratio” (Total Regulatory Capital/Risk Weighted Assets) of at least 9% and a “Basic Solvency Risk Ratio” (Basic Ordinary Regulatory Capital/Risk Weighted Assets) of at least 4.5%. As of December 31, 2018, and 2017, all of Grupo Aval´s financial subsidiaries comply with minimum regulatory capital requirements. Following is the detail of the calculation of the minimum regulatory capital, required for the entities regulated by the Superintendency of Finance: December 31, 2018 Banco de Banco AV Regulatory Capital Banco de Bogotá Occidente Banco Popular Villas Corficolombiana Regulatory Capital 17,730,918 3,917,005 2,170,075 1,176,179 3,631,640 Basic ordinary equity 11,655,669 3,166,981 1,648,438 1,106,529 3,381,550 Basic additional equity 6,075,249 750,024 521,637 69,650 250,090 Market risk 10,275,186 1,754,924 1,809,867 421,379 2,440,618 Credit risk 120,604,192 29,405,386 19,624,155 10,759,423 7,834,598 Total assets weighted by risk 130,879,378 31,160,310 21,434,022 11,180,802 10,275,216 Total solvency risk index. 13.55 % 12.57 % 10.12 % 10.52 % 35.34 % Basic solvency risk index. 8.91 % 10.16 % 7.69 % 9.90 % 32.91 % December 31, 2017 Banco de Banco AV Regulatory Capital Banco de Bogotá Occidente Banco Popular Villas Corficolombiana Regulatory Capital 16,749,137 4,007,636 2,090,131 1,195,815 2,666,487 Basic ordinary equity 10,870,598 3,123,860 1,774,823 1,060,749 2,295,929 Basic additional equity 5,878,538 883,776 315,309 135,066 370,558 Market risk 9,220,514 1,660,535 1,391,833 204,852 1,769,041 Total assets weighted by risk 123,708,231 28,165,602 18,452,556 9,493,492 7,246,604 Total solvency risk index. 13.54 % 13.44 % % 12.33 % 36.80 % Basic solvency risk index. 8.79 % 10.47 % % 10.94 % 31.68 % Despite the above, Grupo Aval will be subject to requirements of minimum capital in compliance with the new regulation of the Superintendency of Finance in Colombia, according with the explanation in “New Risk Framework by the Colombian Superintendence” section. In addition, Decree 1477 was issued on August 6, 2018, aligning the capital requirements of Colombian financial institutions to Basel III standards, specifically, definitions of tier 1 and tier 2 equity and risk weighed assets and incorporating buffers for equity conservation and for systematically important entities. The decree includes an 18-month transition period, which expires on February 2020, and therefore the obligation of Grupo Aval´s financial subsidiaries to meet the requirements will be based on financial statements as of December 31, 2020.

ESTIMATION OF FAIR VALUE

ESTIMATION OF FAIR VALUE	12 Months Ended
	Dec. 31, 2018
Disclosure Of Estimations of Fair Value [Abstract]
Disclosure of fair value measurement [text block]	NOTE 5 – ESTIMATION OF FAIR VALUE The fair value of the financial assets and liabilities traded in active markets (such as financial assets in debt securities, equity securities and derivatives actively listed in stock exchanges or interbank markets) is based on dirty prices supplied by a price vendor. An active market is a market wherein transactions for assets or liabilities are carried out with sufficient frequency and volume in order to provide price information on an ongoing basis. A dirty price includes accrued and pending interest on the security, as from the date of issuance or last payment of interest, until the date in which the purchase and sale operation is due. The fair value of financial assets and liabilities that are not traded in an active market is determined through appraisal techniques determined by the price supplier or by the management of Grupo Aval’s entities. Appraisal techniques used for non-standardized financial instruments such as options, foreign exchange swaps and derivatives of the over-the-counter market, which include the use of interest rate or currency assessment curves built by providers and extrapolated to the specific conditions of the instrument being appraised, discounted cash flow analysis, options pricing models and other valuation techniques commonly used by market participants who rely mostly on market data and the least possible on specific data of entities. Grupo Aval may use models developed internally for financial instruments with no active markets. These models are usually based on valuation techniques and methods generally standardized in the financial sector. The valuation models are mainly used for appraising financial equity instruments not listed on the stock exchange, debt certificates and other debt instruments for which the markets were or have been inactive during the financial period. Some inputs of these models may not be observable in the market and are therefore estimated based on assumptions. The output of a model is always an estimate or approximation of a value that cannot be determined with certainty, and the valuation techniques used may not fully reflect all the factors relevant to the positions of Grupo Aval. Therefore, the appraisals are adjusted, if necessary, to allow for additional factors, including country risk, liquidity risks and counterparty risks. The fair value hierarchy has the following levels: · Level 1 inputs are quoted prices (unadjusted) in active markets for assets or liabilities identical to those which the entity can access as of the date of measurement. · Level 2 inputs are inputs different than quoted prices included in Level 1 that are observable for the asset or liability, whether directly or indirectly in non-active markets. · Level 3 inputs are unobservable inputs for the asset or liability. The level in the fair value hierarchy within which fair value measurement is classified in whole is determined based on the input of the lowest level that is most significant for measuring its total fair value. For such purpose, the relevance of an input is assessed in connection with the measurement of the total fair value. Financial instruments that are listed in markets that are not deemed active, but which are valued based in accordance with quoted market prices, quotes from price vendors or alternative price sources supported by observable inputs, are classified in Level 2. If a fair value measurement uses observable inputs that require significant adjustments based on unobservable inputs, this measurement is classified as Level 3. The assessment of the importance of a particular input to the measurement of fair value in whole requires judgment, taking into account specific factors of the asset or liability. Determining what is deemed as ‘observable’ requires a significant judgment by Grupo Aval. Grupo Aval considers as observable data the market data which is already available, distributed or updated by the price suppliers, and it is reliable and verifiable, with no property rights, and provided by independent sources which are actively involved in the reference market. 5.1 Measurements of Fair Value on a Recurring Basis Measurements of fair value on a recurring basis are those required or allowed in statement of financial position at the end of each accounting period. The following table presents an analysis, within the hierarchy of fair value, of Grupo Aval´s assets and liabilities (by class), measured at fair value as of December 31, 2018 and 2017 on a recurring basis. December 31, 2018 Level 1 Level 2 Level 3 Total Assets Trading investments Securities issued or secured by Colombian Government Ps. 2,109,574 Ps. 161,068 Ps. — Ps. 2,270,642 Securities issued or secured by other Colombian Government entities 19,606 108,940 — 128,546 Securities issued or secured by foreign Governments — 98,155 — 98,155 Securities issued or secured by central banks — 12,914 — 12,914 Securities issued or secured by other financial entities — 1,218,751 — 1,218,751 Securities issued or secured by non-financial sector entities — 29,122 — 29,122 Others — 4,848 — 4,848 Total trading investments Ps. 2,129,180 Ps. 1,633,798 Ps. — Ps. 3,762,978 Investments in debt securities at fair value through profit or loss Others — 17,523 13,733 31,256 Total investments in debt securities at fair value through profit or loss Ps. 2,129,180 Ps. 1,651,321 Ps. 13,733 Ps. 3,794,234 Investments in debt securities at fair value through OCI Securities issued or secured by Colombian Government 8,208,778 2,316,996 — 10,525,774 Securities issued or secured by other Colombian Government entities 232,312 265,323 — 497,635 Securities issued or secured by foreign Governments 91,315 2,924,241 — 3,015,556 Securities issued or secured by central banks — 1,131,740 — 1,131,740 Securities issued or secured by other financial entities 279,653 3,028,827 — 3,308,480 Securities issued or secured by non-financial sector entities — 209,940 — 209,940 Others — 246,632 — 246,632 Total investments in debt securities at fair value through OCI Ps. 8,812,058 Ps. 10,123,699 Ps. — Ps. 18,935,757 Total investments in debt securities Ps. 10,941,238 Ps. 11,775,020 Ps. 13,733 Ps. 22,729,991 Equity securities Trading equity securities 3,060 2,212,915 456,673 2,672,648 Investments in equity through OCI 935,737 51,224 103,640 1,090,601 Total equity securities Ps. 938,797 Ps. 2,264,139 Ps. 560,313 Ps. 3,763,249 Held for trading derivatives Currency forward — 616,116 1,683 617,799 Bond forward — 71 — 71 Interest rate swap — 43,181 — 43,181 Currency swap — 48,546 — 48,546 Currency options — 59,089 — 59,089 Total held for trading derivatives Ps. — Ps. 767,003 Ps. 1,683 Ps. 768,686 Hedging derivatives Currency forward — 30,138 — 30,138 Total hedging derivatives Ps. — Ps. 30,138 Ps. — Ps. 30,138 Other account receivables Financial assets in concession contracts — — 2,488,414 2,488,414 Total other account receivables designated at fair value Ps. — Ps. — Ps. 2,488,414 Ps. 2,488,414 Non- financial assets Biological assets — — 84,206 84,206 Investment properties — — 836,324 836,324 Total non- financial assets Ps. — Ps. — Ps. 920,530 Ps. 920,530 Total assets at fair value on recurring basis Ps. 11,880,035 Ps. 14,836,300 Ps. 3,984,673 Ps. 30,701,008 Liabilities Trading derivatives Currency forward — 583,242 5,779 589,021 Bond forward — 2,730 — 2,730 Bond futures 32 — — 32 Interest rate swap — 32,380 — 32,380 Currency swap — 148,378 — 148,378 Currency options — 38,764 — 38,764 Total trading derivatives Ps. 32 Ps. 805,494 Ps. 5,779 Ps. 811,305 Hedging derivatives Currency forward — 195,539 — 195,539 Total hedging derivatives Ps. — Ps. 195,539 Ps. — Ps. 195,539 Total liabilities at fair value on recurring basis Ps. 32 Ps. 1,001,033 Ps. 5,779 Ps. 1,006,844 December 31, 2017 (1) Level 1 Level 2 Level 3 Total Assets Held for trading debt securities Securities issued or secured by Colombian Government Ps. 1,104,829 Ps. 126,390 Ps. — Ps. 1,231,219 Securities issued or secured by other Colombian Government entities — 70,064 — 70,064 Securities issued or secured by foreign Governments — 92,931 — 92,931 Securities issued or secured by central banks — 34,095 — 34,095 Securities issued or secured by other financial entities — 1,137,525 — 1,137,525 Securities issued or secured by non-financial sector entities — 17,869 — 17,869 Others — 53,858 12,975 66,833 Total held for trading debt securities Ps. 1,104,829 Ps. 1,532,732 Ps. 12,975 Ps. 2,650,536 Investments in debt securities available-for-sale Securities issued or secured by Colombian Government 7,668,545 1,816,380 — 9,484,925 Securities issued or secured by other Colombian Government entities — 662,702 — 662,702 Securities issued or secured by foreign Governments 29,604 2,074,793 — 2,104,397 Securities issued or secured by central banks — 1,356,874 — 1,356,874 Securities issued or secured by other financial entities 456,354 3,161,723 — 3,618,077 Securities issued or secured by non-financial sector entities — 324,469 — 324,469 Others — 232,056 6,627 238,683 Total investments in debt securities available-for sale Ps. 8,154,503 Ps. 9,628,997 Ps. 6,627 Ps. 17,790,127 Total investments in debt securities Ps. 9,259,332 Ps. 11,161,729 Ps. 19,602 Ps. 20,440,663 Equity securities Trading equity securities 28,659 2,095,160 25,341 2,149,160 Investments in equity securities available-for-sale 768,336 55,697 — 824,033 Total equity securities Ps. 796,995 Ps. 2,150,857 Ps. 25,341 Ps. 2,973,193 Held for trading derivatives Currency forward — 222,377 1,578 223,955 Bond forward — 731 — 731 Interest rate swap — 52,970 — 52,970 Currency swap — 33,104 — 33,104 Currency options — 17,632 — 17,632 Total held for trading derivatives Ps. — Ps. 326,814 Ps. 1,578 Ps. 328,392 Hedging derivatives Currency forward — 55,261 — 55,261 Total hedging derivatives Ps. — Ps. 55,261 Ps. — Ps. 55,261 Other financial assets at fair value through profit or loss Financial assets in concession contracts — — 2,282,611 2,282,611 Total financial assets designated at fair value Ps. 10,056,327 Ps. 13,694,661 Ps. 2,329,132 Ps. 26,080,120 Non- financial assets Biological assets — — 66,139 66,139 Investment properties — — 783,794 783,794 Total non- financial assets Ps. — Ps. — Ps. 849,933 Ps. 849,933 Total assets at fair value on recurring basis Ps. 10,056,327 Ps. 13,694,661 Ps. 3,179,065 Ps. 26,930,053 Liabilities Trading derivatives Currency forward — 142,760 1,812 144,572 Bond forward — 1,107 — 1,107 Interest rate swap — 40,693 — 40,693 Currency swap — 79,263 — 79,263 Currency options — 33,030 — 33,030 Total trading derivatives Ps. — Ps. 296,853 Ps. 1,812 Ps. 298,665 Hedging derivatives Currency forward — 13,464 — 13,464 Total hedging derivatives Ps. — Ps. 13,464 Ps. — Ps. 13,464 Total liabilities at fair value on recurring basis Ps. — Ps. 310,317 Ps. 1,812 Ps. 312,129 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (B) 5.2 Items Measured at Fair Value on a Non-Recurring Basis Grupo Aval is required, on a nonrecurring basis to adjust the carrying value of certain assets and liabilities or provide valuation allowances. These assets or liabilities primarily include impaired collateralized loans and non-current assets held for sale. The fair value of these assets which are classified as Level 3 are determined using pricing models, discounted cash flow methodologies, a current replacement cost or similar techniques, using internal models or external experts with sufficient experience and knowledge of the real estate market or of assets being appraised. Generally, these appraisals are carried out by references to market data or based on the replacement cost, when sufficient market data is not available. The following table present Grupo Aval’s assets and liabilities, classified within the fair value hierarchy, which are measured on a nonrecurring basis as of December 31, 2018 and 2017 at fair value less cost of sale: Level 1 Level 2 Level 3 Total December 31, 2018 Impaired collateralized loans Ps. — Ps. — Ps. 896,257 Ps. 896,257 Non- current assets held for sale — — 186,714 186,714 Ps. — Ps. — Ps. 1,082,971 Ps. 1,082,971 Level 1 Level 2 Level 3 Total December 31, 2017 Impaired collateralized loans Ps. — Ps. — Ps. 701,948 Ps. 701,948 Non- current assets held for sale — — 101,382 101,382 Ps. — Ps. — Ps. 803,330 Ps. 803,330 5.3 Fair Value determination Level 1 financial instruments are those traded in an active market. Their fair value was established according to quoted prices (unadjusted) supplied by the price vendor, which are determined using the weighted averages of transactions carried out during the trading day. Level 2 financial instruments as those traded in non-active market, the following table provides information about valuation techniques and significant inputs when measuring assets and liabilities. Valuation technique Significant inputs (1) ASSETS Investments in debt securities at fair value In Colombian Pesos Securities issued or secured by the Colombian Government Discounted cash flow Estimated Prices (2) Securities issued or secured by Colombian government entities Discounted cash flow Estimated Prices (2) Securities issued or secured by other financial entities Discounted cash flow Estimated Prices (2) Yield and Margin Securities issued or secured by non-financial sector entities Discounted cash flow Estimated Prices (2) Other Discounted cash flow Estimated Prices (2) Yield and Margin In Foreign Currency Securities issued or secured by the Colombian Government Market Price Quoted Prices Estimated Prices (2) Securities issued or secured by Colombian government entities Discounted cash flow Estimated Prices (2) Securities issued or secured by foreign governments - Internal Model - Discounted cash flows using yields from similar securities outstanding - Market Price - Market Price or price calculated based on benchmarks set by price providers methodologies - Bloomberg Generic / Bloomberg Valuation Securities issued or secured by Central Banks - Internal Model - Discounted cash flows using yields from similar securities outstanding - Market Price - Market Price or price calculated based on benchmarks set by price providers methodologies Securities issued or secured by other financial entities - Discounted cash flow - Estimated Prices (2) - Internal Model - Quoted Price or price calculated based on benchmarks set by price providers methodologies - Market Price - Bloomberg Generic / Bloomberg Valuation Securities issued or secured by non-financial sector entities - Market Price - Average Price - Quoted Price - Bloomberg Generic Other - Discounted cash flow - Estimated Prices (2) - Internal Model - Theoretical Price Mutual Funds which by the end of the month capitalize or pay interests - Market Price - Quoted Price Equity securities Corporate Stock Market Price Estimated Prices (2) Investment Funds Market Price Market value of underlying assets, less management and administrative fees Pension and severance funds (3) Market Price Market value of underlying assets, less management and administrative fees Trading Derivatives Foreign Currency Forward - Underlying asset price Debt securities Forward - Currency curve by underlying asset Interest rate Swap Discounted cash flow - Forward Exchange rates curve of the operation’s currency Cross Currency Swap - Implicit curves of Exchange rates forwards Swap (others) - Swap curves by underlying asset Currency Options - Implicit volatilities matrixes and curves Hedging Derivatives Currency Forward Discounted cash flow Curves by currency LIABILITIES Derivatives held for trading Foreign Currency Forward Discounted cash flow - Underlying asset price Debt securities Forward - Currency curve by underlying asset Interest rate Swap - Forward Exchange rates curve of the operation’s currency Currency Swap - Implicit curves of exchange rates forwards Swap (others) - Swap curves by underlying asset Currency Options - Implicit volatilities matrixes and curves Hedging Derivatives Foreign Currency Forward Discounted cash flow - Underlying asset price Interest rate Forward - Currency curve by underlying asset Interest rate Swap - Forward Exchange rates curve of the operation’s currency - Implicit curves of Exchange rates forwards - Swap curves by underlying asset - Implicit volatilities matrixes and curves (1) Quoted market prices (ie obtained from price vendors) (2) Estimated Price: A valuation model based on information obtained from a price vendor when it is not able to supply quoted prices (unadjusted) for each security. This model is the basis for the construction of the valuation margin of the securities that is represented on the assigned curve or reference rate. This margin remains constant on the assigned curve or reference rate when calculating the theoretical valuation price. (3) The subsidiary Porvenir S. A. according to Colombian rules is required to invest to 1% of its total assets under management from severance and mandatory pension funds. The following table provides information about valuation techniques and significant unobservable inputs when measuring Level 3 assets and liabilities at recurring fair value. Valuation technique Significant inputs ASSETS Investments in debt securities at fair value In Colombian Pesos Other Discounted cash flow Projected payments flow of mortgage securitizations (1) Equity securities Investments in equity securities (2) - Growth in values after 5 years Discounted cash flow - Net Income - Growth in residual values after 5 years Discount interest rates - EBITDA Value Comparable Multiples - Multiple of EBITDA - Net income value - Multiple of net income Other financial assets Assets under concession contracts - Free-cash flow from concession contracts - Concession contract’s maturity period Discounted cash flow - Perpetuity value of the year “n” free-cash flow - Present value of the discounted residual value at Weighted Average Cost of Capital ("WACC"). - Financial income: annual adjustment of the financial asset’s value. The detail of valuation process for financial assets in concession arrangements are outlined in (3) Non-financial assets Biological assets Discounted cash flow The processes used to collect data and determine the fair value of biological assets are described in (4) . Investment properties Discounted cash flow The processes used to collect data and determine the fair value of biological assets are described in (5) (1) Mortgage-Backed Securities Titularizadora Colombiana S.A issued mortgage securitizations. Following is the valuation under 3 scenarios, these scenarios are based on projections that, consider different prepayment and delinquency assumptions. The following table shows the sensitivity analysis of this fair value under three different scenarios. December 2018 Baseline scenario (i) Increase - Favorable scenario (ii) Decrease - Unfavorable scenario (iii) Ps. Ps. Ps. December 2017 Baseline scenario (i) Increase - Favorable scenario (ii) Decrease - Unfavorable scenario (iii) Ps. Ps. Ps. (i) Fair value calculated based on valuation scenario, considers 12‑month Moving Average Prepayment between 9.25% and 10.90% as of December 31, 2018 and 12.4% and 15.8% as of December 31, 2017, and 1 Time Delinquency Curve. (ii) Pre-payment of 10% and 1 time delinquency curve (iii) Pre-payment of 20% and 1 time delinquency curve (2) Valuation of equity securities Level 3 Investments with fair value hierarchy level 3 have significant unobservable inputs. Level 3 instruments includes equity instruments, which are not quoted on any stock exchange. Like observable prices are not available for these securities, Grupo Aval has used valuation techniques as discounted cash flows to obtain fair value. The following table includes a sensitivity analysis of main equity securities by Ps. 45,219 as of December 31, 2018 classified at FVOCI level 3: Favorable Unfavorable Methods and Variables Variation impact impact Comparable multiples / Recent transaction price EBITDA Number of times +/-1 x Ps. 1,819 Ps. (1,823) Adjusted net Asset Value Most relevant variable in assets +/-10% 221 (177) Adjusted discounted cash flow Growth in residual values +/-1% of the gradient 204 (134) Growth in residual values after 5 years +/-1% 60 (147) +/- 30 bp 135 (101) +/-1% 743 (741) Income +/-1% 710 (674) +/- 1% anual 352 (529) Discount interest rates +/- 50 pb 597 (572) Ps. 4,841 Ps. (4,898) (3) Valuation of financial assets under Gas and Energy concession arrangement rights Promigas and subsidiaries, designated at fair value the financial assets under concession contracts, the method of discounted cash flows was used to determine the fair value. The assumptions in the calculation of the financial asset were: Financial assets were calculated taking into account the expiration date of each concession contract. The calculation was carried out in proportion to the expiration of each of the concession contracts in force. Only the operational cash flows of these assets under concession were taken into account. The components of the calculations are as follows: · Free cash flow generated solely by assets under concession. · Expiration period of the concession. · Amount in-perpetuity of the Free Cash Flow (FCF) of the year, estimated factoring a growth in the residual amount between 3% and 1% each year. · Current amount of the residual amount Weighted Average Cost of Capital (WACC), estimated taking into account an interest rate between 9.35 % and 8.64% each year. · Financial Income: Annual adjustment of the amount of the financial asset to WACC (*). (*) · Beta Unlevered USA (Oil/Gas Distribution): Damodaran. [Betaunlevered 0.61, 2018] · Risk Free Rate, Source: Geometric Average 1992‑2018 of American bonds “T-Bonds”. · Marker Return, Source: Geometric Average 1992‑2018 Damodaran “Stocks” USA. · Market Premium: Market Return – Risk Free Rate · Country Risk Premium: Average last 5 years EMBI (Difference between 10‑year Colombian sovereign bonds and 10 year “T-Bonds”). Damodaran · Emerging Market: Equity Premium Emerging countries (Lambda - Damodaran) Sensitivity analysis The following table includes a sensitivity analysis of the assumptions used by Promigas and its subsidiaries in the calculation of fair value of unconditional transfer rights of gas pipelines to Government entities at the expiration date of the contracts. The value of the financial asset at December 31, 2018 is Ps. 2,488,414 and Ps. 2,282,611 at 2017, the sensitivity analysis shows their increase or decrease. December 31, 2018 December 31, 2017 Variable +100 bps -100 bps +100 bps -100 bps WACC Ps. Ps. Ps. Ps. Growth rate (4) Biological Assets Fair value of Grupo Aval subsidiaries’ “biological assets”, which correspond to agricultural activities related to biological assets (animals or plants), is estimated based on internal reports prepared by the companies who own such assets. Fair value of biological assets is determined using valuations performed by experienced internal professionals, using discounted cash flow models. Since no comparable market exist for the biological assets, given their nature, their fair value is determined using discounted cash flows models for each biological asset, based on estimated future quantities of crops, prices, harvesting costs, and maintenance and crop yields, among others, discounted using a risk-free rate adjusted by an appropriate risk premium. See note 15. The main assumptions used for determining the fair value of the principal biological assets are as follows: 1. Biological assets growing in rubber crops: The price of natural rubber used to calculate the 2019‑2021 cash flows was forecasted based on the average of the last 3 years of the Technically Specified Rubber (TSR20) per ton since January 2016 Ps. 0.47 (USD 1,521/Ton), in order to reflect the behavior of the commodity for an entire economic cycle. Forecasted prices are adjusted annually based on the expected US inflation rate. Yield per hectare: Based on the crop composition and the planting year of the different clones, we forecasted a stepwise yield per hectare starting in year 7 after plantation and stabilizing after year 10. Tons of rubber per Year hectare per year Year 7 0.60 Year 8 0.90 Year 9 1.40 Year 10 and other 1.80 Costs and administrative expenses: Costs are forecasted considering the different activities incurred during the life of a rubber project. A cost per hectare is forecasted for every key activity such as crop establishment, maintenance of immature plant and maintenance and harvest of mature plants. Discount rate: Based on the data for the “Farming/Agriculture” sector of Damodaran Online’s Global Markets data base, a cost of equity of 16.75% as of December 31, 2018 and 15.23% as of December 31, 2017 was defined. Additionally, a cost of debt of 6.29% as of December 31, 2018 and 5.84% as of December 31, 2017 was defined based on existing debt market conditions. Based on the above, the discount rate, or WACC, was determined to be 10.74% as of December 31, 2018 and 11.71% as of December 31, 2017. 2. Biological assets growing in African palm crops: The price of African palm oil (USD per ton) used to calculate the 2019‑2020 cash flows was forecasted based on the average price of palm oil since January 2017 (USD 671/Ton), in order to reflect the behavior of the commodity for an entire economic cycle. Forecasted prices are adjusted annually with the expected US inflation rate. The source of information for international prices for Colombia’s market are the following: Crude palm oil: BURSA MALAYSIA DERIVATIVES (BMD) – Crude Palm Oil Futures (FCPO) – Third Position. It is a relevant international market prices, of easy public access, and is provided by transparent and objective source. For the price forecast, available future prices (FCPO) were also used as reference. Yield per hectare: Based on the crop composition and the re-planting year of the crops. which started in 2006, we forecasted a stepwise yield per hectare for each plantation as follows: Tons of fresh fruit Year per hectare 0 to 3 — 4 4 5 10 6 12 7 22 7 to 18 22 More than 18 36 Weighted average 18 Extraction rate: The oil extraction rate (OER) is a factor that defines the amount of crude palm oil that is produced. The OER varies depending on the age of the plantation, and was forecasted based on the following table: Year Extraction Rate (%) 0 to 3 19 4 23 5 23 6 23 7 23 7 to 18 23 More than 18 21 Weighted average 22 Costs and administrative expenses: Costs are forecast considering the different activities that are incurred during the life of an African palm crop. A cost per hectare is forecast for every key activity such as crop establishment, maintenance and exploitation, harvest and transport. Discount rate: Based on the data for the “Farming/Agriculture” sector of Damodaran Online’s Global Markets data base, a cost of equity of 16.75% (15.23% as of December 31, 2017) was defined. Additionally, a cost of debt of 6.29% (5.84% as of December 31, 2017) was defined based on existing debt market conditions. Based on the above, the discount rate, or WACC, was determined at 10.74% (11.71% as of December 31, 2017). Sensitivity analysis of Biological Assets at fair value As a result of its investment in Corficolombiana, Grupo Aval´s assets include certain biological assets, that consist primarily of rubber and African palm oil. Grupo Aval does not sells its products in the Rotterdam market or produces/sells African palm oil from Malaysia. However, Grupo Aval has knowledge that the price of rubber and African palm oil traded at both markets is used to determine the price reference of these commodities. If the average price of technically specified rubber (TSR20) and crude palm oil (CPO) had been 5% higher or lower in 2018 and 2017, with all the other variables remaining constant and excluding the effect of hedging activities, Grupo Aval’s profits for the period, before taxes, would have been the following, including only the product growing on bearer plants. Rubber Plantations TSR20 reference price Change in fiscal year- Value of the biological Profits USD/ton end price asset before taxes 1,597 5 % 44,615 20,457 Dec-18 1,521 Baseline scenario 41,533 17,375 1,445 (5) % 38,451 14,293 1,620 5 % 25,366 10,762 Dec-17 1,543 Baseline scenario 24,158 9,554 1,466 (5) % 22,950 8,346 African Palm Plantations CPO reference price Change in fiscal year- Value of the biological Profits USD/ton end price asset before taxes 705 5 % 32,786 6,231 Dec-18 671 Baseline scenario 29,783 3,228 638 (5) % 26,779 224 683 5 % 27,883 5,068 Dec-17 651 Baseline scenario 26,555 3,740 618 (5) % 25,228 2,412 The fair value of biological assets is also affected by different circumstances in the market such as climate, natural disasters and plagues. The subsidiaries that manage biological assets have taken all the necessary precautions to reduce these risks. An analysis of any situation that could compromise the fulfilment of the company´s objectives is carried out by the different technical areas and the potential impact of any deviation is also measured. The result of said analysis is informed to top management to determine, in accordance with the significance of the situation, if they need to be reported to the Board of Directors. (5) Investment properties Investment properties are recognized at fair value, based on a valuation made at each year-end period, using as a basis, independent appraisal expert appraisal report obtained and reviewed by management. While in Colombia, the frequency of transactions in the real state sector is low compared to other more developed markets, management believes there are enough references to assess the fair value of investment properties owned by Grupo Aval and its subsidiaries based on comparable market transactions. Fire-sales are excluded from the comparable transactions used to estimate the fair-value of investment properties. Management has reviewed the main assumptions used by the independent external appraisers (such as inflation, interest rates, etc.) and believes they are consistent with market conditions at each end of period. However, management believes that the estimation of the fair value of investment properties depends on significant judgment from the independent expert appraisers, and as such, there could be a significant probability that the actual price of sale of a property differs from its fair value. 5.4 Transfers between level 1 and level 2 of the fair value hierarchy The following table summarizes the transfer between fair value levels 1 and 2 during 2018 and 2017. In general, transfers between Level 1 and Level 2 in the investment portfolios are due, fundamentally, to changes in the liquidity levels of the securities in the markets. December 31, 2018 Investments in debt Investments in debt securities at FVTPL securities at FVOCI Transfers between: Transfers between: Level 2 to 1 Level 1 to 2 Level 2 to 1 Level 1 to 2 Securities issued or secured by Colombian Government Ps. — Ps. — Ps. 17,668 Ps. 14,081 Securities issued or secured by other Colombian Government entities — — 229,202 — Securities issued or secured by other financial entities — — — 189,013 Ps. — Ps. — Ps. 246,870 Ps. 203,094 December 31, 2017 Trade Debt securities debt securities available-for-sale Transfers between: Transfers between: Level 2 to 1 Level 1 to 2 Level 2 to 1 Level 1 to 2 Securities issued or secured by Colombian Government Ps. — Ps. 49 Ps. — Ps. 28,104 Securities issued or secured by other Colombian Government entities — 313 — 9,908 Securities issued or secured by other financial entities — — — 65,209 Securities issued or secured by entities of the non-financial sector — — — 85,552 Ps. — Ps. 362 Ps. — Ps. 188,773 There were no transfers of fair values between levels and 2 to or from level 3. 5.5 Reconciliation Level 3 of the fair value hierarchy The reconciliation of the balances at the beginning of the period to the closing balances with the fair value measurements classified at Level 3 is shows in the following table. Financial assets Financial assets in in debt Equity concession Biological Investment securities instruments arrangements assets properties December 31, 2015 Ps. 36,077 Ps. — Ps. 1,891,692 Ps. 240,212 Ps. 538,246 Valuation adjustment with an effect on income 750 — 180,982 14,644 53,680 Valuation adjustments with an effect on OCI (9,450) — — — — Reclassification of bearer plants balance — — — (188,177) — Effects of amendments in accounting policies of bearer plants. — — — (18,108) — Transfers to non-current assets held for sale — —

CLASSIFICATION OF FINANCIAL ASS

CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES	12 Months Ended
	Dec. 31, 2018
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES	NOTE 6 – CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES See accounting policies in Notes 2(2.6). The following table provides a reconciliation of gross amount between line items in the statement of financial position and categories of financial instruments. Mandatorily FVOCI – FVOCI – Total at debt equity Amortized carrying December 31, 2018 Note FVTPL instruments instruments Cost amount Cash and cash equivalents 7 Ps. — Ps. — Ps. — Ps. 28,401,283 Ps. 28,401,283 Trading assets 8 7,204,312 — — — 7,204,312 Debt securities 3,762,978 — — — 3,762,978 Equity securities 2,672,648 — — — 2,672,648 Derivative assets 768,686 — — — 768,686 Investment securities 9 31,256 18,935,757 1,090,601 2,972,616 23,030,230 Measured at fair value 31,256 18,935,757 1,090,601 — 20,057,614 Measured at amortized cost — — — 2,972,616 2,972,616 Loans 11 — — — 176,881,841 176,881,841 Other accounts receivable 12 2,488,414 — — 7,069,120 9,557,534 Measured at fair value 2,488,414 — — — 2,488,414 Measured at amortized cost — — — 7,069,120 7,069,120 Hedging derivative assets 10 30,138 — — — 30,138 Total financial assets Ps. 9,754,120 Ps. 18,935,757 Ps. 1,090,601 Ps. 215,324,860 Ps. 245,105,338 Mandatorily FVOCI – FVOCI – Total at debt equity Amortized carrying December 31, 2018 Note FVTPL instruments instruments Cost amount Trading liabilities Derivative liabilities 8 Ps. 811,305 Ps. — Ps. — Ps. — Ps. 811,305 Hedging derivative liabilities 10 195,539 — — — 195,539 Customer deposits 20 — — — 164,359,451 164,359,451 Financial obligations 21 — — — 51,211,990 51,211,990 Total financial liabilities Ps. 1,006,844 Ps. — Ps. — Ps. 215,571,441 Ps. 216,578,285 Designated Other Total at Held-to- Loans and Available- amortized carrying December 31, 2017 (1) Trading FVTPL maturity receivables for-sale cost amount Cash and cash equivalents Ps. — Ps. — Ps. — Ps. — Ps. — Ps. 22,336,838 Ps. 22,336,838 Trading assets 5,128,088 — — — — — 5,128,088 Debt securities 2,650,536 — — — — — 2,650,536 Equity securities 2,149,160 — — — — — 2,149,160 Derivative assets 328,392 — — — — — 328,392 Investment securities — — 2,899,039 — 18,614,160 — 21,513,199 Debt securities — — 2,899,039 — 17,790,127 — 20,689,166 Investment equity securities — — — — 824,033 — 824,033 Loans and receivables — — — 166,372,776 — — 166,372,776 Other accounts receivable — 2,282,611 — — — 4,466,134 6,748,745 Hedging derivative assets — 55,261 — — — 55,261 Total financial assets Ps. 5,128,088 Ps. 2,337,872 Ps. 2,899,039 Ps. 166,372,776 Ps. 18,614,160 Ps. 26,802,972 Ps. 222,154,907 Designated Other Total at Held-to- Loans and Available- amortized carrying December 31, 2017 (1) Trading FVTPL maturity receivables for-sale cost amount Derivative liabilities held for trading Ps. 298,665 Ps. — Ps. — Ps. — Ps. — Ps. — Ps. 298,665 Hedging derivative liabilities — 13,464 — — — — 13,464 Customer deposits — — — — — 154,885,224 154,885,224 Financial obligations — — — — — 45,276,036 45,276,036 Total financial liabilities Ps. 298,665 Ps. 13,464 Ps. — Ps. — Ps. — Ps. 200,161,260 Ps. 200,473,389 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2 (2.5) (B).

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS	12 Months Ended
	Dec. 31, 2018
Disclosure of cash and cash equivalents [Abstract]
Disclosure of cash and cash equivalents [text block]	NOTE 7 – CASH AND CASH EQUIVALENTS Balances of cash and cash equivalents comprise the following as of December 31, 2018 and 2017: December 31, 2018 December 31, 2017 In Colombian Pesos Cash Ps. 4,489,637 Ps. 4,100,166 Deposits in the Colombian central bank 3,794,412 3,820,539 Demand deposits in banks and other financial entities 559,181 312,661 Clearing houses 3,428 1,733 Investments in debt securities maturing in under three months 2,449 28,603 Restricted cash (1) 254,280 366,584 Ps. 9,103,387 Ps. 8,630,286 In foreign currency Cash 1,955,745 1,704,861 Demand deposits in banks and other financial entities 17,342,151 11,999,859 Restricted cash (2) — 1,832 Ps. 19,297,896 Ps. 13,706,552 Total cash and cash equivalents Ps. 28,401,283 Ps. 22,336,838 (1) Grupo Aval has restricted cash related to the collection of tolls in concessions and in banking reserves. (2) Grupo Aval has restricted cash related to deposits in guarantee for Banco Corficolombiana Panamá S.A and Gas Comprimido del Perú S.A. Grupo Aval´s banking subsidiaries had cash reserves to comply with the mandatory amount for time deposits, checking account and savings accounts for Ps.8,291,372 and Ps. 7,679,587 at December 31, 2018 and 2017, respectively.

TRADING ASSETS AND LIABILITIES

TRADING ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2018
TRADING ASSETS AND LIABILITIES
TRADING ASSETS AND LIABILITIES	NOTE 8 – TRADING ASSETS AND LIABILITIES Balances of trading asset and liabilities comprise the following as of December 31, 2018 and 2017: Note December 31, 2018 December 31, 2017 (1) Trading assets Debt securities 8.1 Ps. 3,762,978 Ps. 2,650,536 Equity securities 8.2 2,672,648 2,149,160 Derivative assets 8.3 768,686 328,392 Ps. 7,204,312 Ps. 5,128,088 Trading liabilities Derivative liabilities 8.3 811,305 298,665 Ps. 811,305 Ps. 298,665 Total trading assets and liabilities net Ps. 6,393,007 Ps. 4,829,423 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5(B) 8.1 Trading investments in debt securities (2017 Debt and Equity Securities Held-For-Trading (1) ) The following is the balance at December 31, 2018 and 2017 (1) . December 31, December 31, 2018 2017 Securities issued or secured by Colombian Government Ps. 2,270,642 Ps. 1,231,219 Securities issued or secured by other Colombian Government entities 128,546 70,064 Securities issued or secured by foreign Governments 98,155 92,931 Securities issued or secured by central banks 12,914 34,095 Securities issued or secured by other financial entities 1,218,751 1,137,525 Securities issued or secured by non-financial sector entities 29,122 17,869 Other 4,848 66,833 Total trading debt securities Ps. 3,762,978 Ps. 2,650,536 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (B) 8.2 Trading investments in equity securities (2017 - Debt and Equity Securities Held-For-Trading (1) ) The following is the balance at December 31, 2018 and 2017 (1) . December 31, December 31, 2018 2017 In Colombian Pesos Corporate stock Ps. 3,060 Ps. 4,188 Investment funds (2) 1,162,260 802,941 Pension and severance funds (3) 1,451,692 1,279,009 Ps. 2,617,012 Ps. 2,086,138 In foreign currency Corporate stock 32,733 49,812 Investment funds 22,903 13,210 Ps. 55,636 Ps. 63,022 Total equity securities Ps. 2,672,648 Ps. 2,149,160 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5) (B). (2) Grupo Aval has restricted Investment Funds related to Concesionaria Nueva Vía al Mar Ps. 46,276 y Concesionaria Vial del Pacífico Ps. 18,218 (3) Pursuant to Colombian rules the subsidiary Porvenir S. A. is required to directly invest 1% of the total assets of these funds in mandatory severance and pension funds managed by Porvenir. 8.3 Trading derivatives assets and liabilities Trading derivative assets and liabilities financial instruments comprise the following as of December 31, 2018 and 2017: December 31, 2018 December 31, 2017 Item Assets Liabilities Assets Liabilities Forward contracts Foreign currency to buy Ps. 599,987 Ps. 22,175 Ps. 60,799 Ps. 120,083 Foreign currency to sell 17,811 566,846 163,156 24,489 Debt securities to buy 50 — 357 171 Debt securities to sell 22 2,730 374 936 Subtotal Ps. 617,870 Ps. 591,751 Ps. 224,686 Ps. Swap Cross currency 48,546 148,378 33,104 79,263 Interest rate 43,181 32,380 52,970 40,693 Subtotal Ps. 91,727 Ps. 180,758 Ps. 86,074 Ps. Futures contracts Debt securities to buy — 32 — — Subtotal Ps. — Ps. 32 Ps. — Ps. — Options contracts Foreign currency to buy 59,089 — — 33,030 Foreign currency to sell — 38,764 — — Debt securities to buy — — 17,632 — Subtotal 59,089 38,764 17,632 33,030 Total derivative assets and liabilities Ps. 768,686 Ps. 811,305 Ps. 328,392 Ps. Net derivatives trading (42,619) 29,727 Derivative instruments contracted by Grupo Aval or its consolidated entities are generally traded in either domestic financial markets or in over-the-counter international markets. Derivative instruments have a net favorable position (asset) or a net unfavorable position (liability) as a result of fluctuations in exchange rates, in interest rates or other variables relating to market conditions. As a result, the aggregate amount of fair values of the assets and liabilities in derivative instruments may vary significantly from time to time. 8.4 Trading assets in debt securities pledged as collateral The following is a list of held-for-trading financial assets that are being used as collateral in repo operations, pledged as collateral for transactions with financial instruments, or pledged to third parties as collateral to secure financial obligations with other banks (See note 21). December 31, December 31, 2018 2017 Pledged as collateral in money market operations Securities issued or secured by central banks Ps. 11,533 Ps. 5,217 Securities issued or secured by foreign Governments 51,055 54,644 Securities issued or secured by Colombian Government 1,027,436 744,332 Securities issued or secured by other financial entities 15,567 9,590 Ps. 1,105,591 Ps. 813,783 Pledged as collateral to special entities such as CRCC, BR and BVC (*) Securities issued or secured by Colombian Government Ps. 34,191 Ps. 29,292 34,191 29,292 Ps. 1,139,782 Ps. 843,075 (*) Cámara de Riesgo Central de Contraparte (“CRCC”), Banco de la República (“BR”) and Bolsa de Valores de Colombia (“BVC”)

INVESTMENT SECURITIES

INVESTMENT SECURITIES	12 Months Ended
	Dec. 31, 2018
INVESTMENT SECURITIES
INVESTMENT SECURITIES	NOTE 9 – INVESTMENT SECURITIES Balances of investment securities comprise the following as of December 31, 2018 and 2017: Note December 31, 2018 Investments in debt securities mandatorily at FVTPL 9.1 Ps. 31,256 Investments in debt securities at FVOCI 9.2 18,935,757 Investments in debt securities at amortized cost 9.3 2,972,616 Investments in equity securities at FVOCI 9.4 1,090,601 Ps. 23,030,230 Loss impairment Investments in debt securities at amortized cost 4.1.5 (71) Ps. (71) Total investment securities net Ps. 23,030,159 December 31, 2017 (1) Investments in debt securities available for sale 9.2 Ps. 17,790,127 Investments in debt securities held to maturity 9.3 2,899,039 Investments in equity securities available for sale 9.4 824,033 Total investment securities net Ps. 21,513,199 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5) (B). 9.1 Investments in debt securities at FVTPL The following table includes investments on asset-backed securities mandatorily at FVTPL because the contractual cash flows of these securities are not SPPI on the principal outstanding. December 31, 2018 December 31, 2017 (1) Others 31,256 — Total investments in debt securities madatorily at FVTPL Ps. 31,256 Ps. — (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (B). 9.2 Investments in debt securities at FVOCI December 31, 2018 Debt securities Cost Unrealized Gain Unrealized Losses Fair Value Securities issued or secured by Colombian Government Ps. 10,517,512 Ps. 65,724 Ps. (57,462) Ps. 10,525,774 Securities issued or secured by other Colombian Government entities 496,936 3,581 (2,882) 497,635 Securities issued or secured by foreign Governments 3,042,595 9,209 (36,248) 3,015,556 Securities issued or secured by central banks 1,133,337 1,058 (2,655) 1,131,740 Securities issued or secured by other financial entities 3,352,299 3,191 (47,010) 3,308,480 Securities issued or secured by non-financial sector entities 278,838 156 (69,054) 209,940 Others 251,878 121 (5,367) 246,632 Total debt securities at FVOCI Ps. 19,073,395 Ps. 83,040 Ps. (220,678) Ps. 18,935,757 December 31, 2017 - Available-for-sale securities (1) Debt securities Cost Unrealized Gain Unrealized Losses Fair Value Securities issued or secured by Colombian Government Ps. 9,442,457 Ps. 77,571 Ps. (35,103) Ps. 9,484,925 Securities issued or secured by other Colombian Government entities 656,294 13,251 (6,843) 662,702 Securities issued or secured by foreign Governments 2,113,106 8,655 (17,364) 2,104,397 Securities issued or secured by central banks 1,359,924 739 (3,789) 1,356,874 Securities issued or secured by other financial entities 3,621,311 11,853 (15,087) 3,618,077 Securities issued or secured by non-financial sector entities 347,285 21,725 (44,541) 324,469 Others 237,486 2,826 (1,629) 238,683 Total debt securities available-for-sale Ps. 17,777,863 Ps. 136,620 Ps. (124,356) Ps. 17,790,127 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5). The following table shows amounts reclassified to profit or loss form OCI gross of taxes, related to investment debt securities FVOCI (2017 and 2016 available-for-sale): December 31, 2018 December 31, 2017 December 31, 2016 Redemptions or sales 43,574 73,953 25,911 ECL allowance (2017 and 2016: Impairment loss allowance) 31,809 — (70,146) Total reclassified to profit or loss Ps. 75,383 Ps. 73,953 Ps. (44,235) 9.3 Investments in debt securities at amortized cost (2017 - Held to maturity) Debt securities December 31, 2018 December 31, 2017 Securities issued or secured by Colombian Government Ps. — Ps. 424 Securities issued or secured by other Colombian Government entities 2,931,172 2,839,286 Securities issued or secured by foreign Governments 32,321 26,864 Securities issued or secured by other financial entities 9,123 32,465 Total debt securities at amortized cost (2017 held-to-maturity) Ps. 2,972,616 Ps. 2,899,039 As of December 31, 2018, and 2017 there are no investments in debt securities at amortized cost (2017 - held-to-maturity securities) pledged as collateral for financial liabilities. The following is a summary of investments in debt securities at amortized cost by maturity dates: December 31, 2018 December 31, 2017 Up to 1 month Ps. 671,047 Ps. 722,026 More than 1 month and no more than 3 months 12,787 38,071 More than 3 months and no more than 1 year 2,287,755 2,133,344 More than 1 year and no more than 5 years 1,027 5,598 Ps. 2,972,616 Ps. 2,899,039 9.4 Investments in equity securities at fair value through OCI The following is the balance at December 31, 2018 and 2017. December 31, 2018 Cost Unrealized Gain Unrealized Losses (*) Fair Value In Colombian Pesos Corporate stock Ps. 593,611 Ps. 476,023 Ps. (3,314) Ps. 1,066,320 In foreign currency Corporate stock 12,717 11,571 (7) 24,281 Total equity securities Ps. 606,328 Ps. 487,594 Ps. (3,321) Ps. 1,090,601 December 31, 2017 Cost Unrealized Gain Unrealized Losses (*) Fair Value In Colombian Pesos Corporate Stock Ps. 276,452 Ps. 541,520 Ps. (75) Ps. 817,897 In foreign currency Corporate Stock 452 5,684 — 6,136 Total equity securities Ps. 276,904 Ps. 547,204 Ps. (75) Ps. 824,033 The details of equity instruments through OCI as of December 31, 2018 and 2017 are as follows. Entity (*) December 31, 2018 December 31, 2017 Empresa de Energia de Bogota S.A. E.S.P. Ps. 841,279 Ps. 659,208 Gas Natural S.A. ESP 43,460 49,998 Mineros S.A. 45,706 56,546 Bolsa de Valores de Colombia S.A. 48,351 52,064 Sociedades Portuarias (1) 28,897 — Master Card 7,526 5,634 Others (1) 75,382 583 Total Ps. 1,090,601 Ps. 824,033 (*) These investments in equity securities have been designated as FVOCI taking into account that they represent strategic investments for Grupo Aval and therefore, they are not expected to be sold in a foreseeable future. (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (B) For the years ended December 31, 2018, 2017 and 2016, dividends from these equity investments in the amount of Ps. 71,487, Ps. 50,439 and Ps. 28,027 respectively, were recognized in profit or loss in other income line (see note 30). 9.5 Investment assets in debt securities through OCI pledged as collateral The following is a list of debt securities at FVOCI assets that are being used as collateral in repo operations, pledged as collateral for transactions with financial instruments, or pledged to third parties as collateral to secure financial obligations with other banks (See note 21). December 31, December 31, 2018 2017 Pledged as collateral in money market operations Securities issued or secured by foreign Governments Ps. 202,300 Ps. 148,816 Securities issued or secured by Colombian Government 3,195,548 2,215,568 Securities issued or secured by non-financial sector entities — — Securities issued or secured by other Colombian Government entities 63,605 133,701 Securities issued or secured by other financial entities 57,182 38,536 Others 39,602 50,273 Ps. 3,558,237 Ps. 2,586,894 Pledged as collateral in operations with derivative instruments Securities issued or secured by Colombian Government 1,087 77,736 Ps. 1,087 Ps. 77,736 Pledged as collateral to special entities such as CRCC, BR and BVC (*) Securities issued or secured by Colombian Government 471,579 291,878 Ps. 471,579 Ps. 291,878 Other collaterals Securities issued or secured by central banks 167,634 158,951 Ps. 167,634 Ps. 158,951 Ps. 4,198,537 Ps. 3,115,459 (*) Cámara de Riesgo Central de Contraparte – CRCC, Banco de la República – BR and Bolsa de Valores de Colombia – BVC

HEDGE ACCOUNTING

HEDGE ACCOUNTING	12 Months Ended
	Dec. 31, 2018
Disclosure of detailed information about hedges [abstract]
Disclosure of hedge accounting [text block]	NOTE 10 – HEDGE ACCOUNTING In accordance with its risk management policies, Grupo Aval uses hedge accounting to manage foreign exchange risk relating to investments in foreign operations and in forecasted transactions of its subsidiary Promigas, as follows: Hedges of net investment in foreign operations Banco de Bogotá, Banco de Occidente and Promigas are exposed to foreign exchange risk relating to its investments in foreign subsidiaries, whose functional currencies are the US dollar. The purpose of hedge accounting is to mitigate and offset any adverse changes resulting from the fluctuation in exchange rate of the Colombian Peso and the functional currency of such investments. The impacts of those movements are reflected in the cumulative translation adjustment in other comprehensive income of the consolidated financial statements. To cover this risk, Grupo Aval hedges its exposure through foreign currency financial liabilities expressed in U.S. dollars and forward contracts for the sale of U.S. dollars. Changes in the fluctuation of the Colombian peso against the U.S. dollar are as follows: Date Value of USD 1 Variation in pesos December 31, 2016 3,000.71 (148.76) December 31, 2017 2,984.00 (16.71) December 31, 2018 3,249.75 265.75 According to information described above, the following table shows movements of OCI gross of taxes, related to hedges of net investment in foreign operations: Exchange Exchange Translation difference of difference adjustment of financial in forward Net OCI Detail of investment the investments liabilities contracts account Leasing Bogotá Panamá Ps. 1,064,099 Ps. (549,336) Ps. (514,343) Ps. 420 Other subsidiaries and branches Banco de Bogotá 33,088 — (32,967) 121 Occidental Bank Barbados 5,866 (5,866) — — Banco de Occidente Panamá 5,598 (5,598) — — Sociedad Portuaria El Cayao S.A. E.S.P. 7,865 (7,865) — — Gases del Pacífico S.A.C. 1,492 (1,492) — — Gas Natural de Lima y Callao S.A.C. – Calidda 6,724 (6,724) — — Total Ps. 1,124,732 Ps. (576,881) Ps. (547,310) Ps. 541 According to information described above, the following table contains details of hedging operations carried out to cover foreign denominated equity investments. The analysis is presented gross of taxes: December 31, 2018 Thousands of USD Ps. millions Amount of hedge by Cumulative financial Amount of translation Exchange Exchange liabilities in hedge by adjustment difference of difference in Investment foreign forward of the investments financial forward Net OCI Detail of investment amount currency contracts (1) liabilities (1) contracts account Leasing Bogotá Panamá 3,964,051 (2,067,100) (1,896,348) Ps. 4,129,381 Ps. (1,595,205) Ps. (2,669,831) Ps. (135,655) Other subsidiaries and branches Banco de Bogotá (2) 126,380 — (121,116) 125,978 — (123,398) 2,580 Occidental Bank Barbados 23,971 (23,971) — 24,606 (24,606) — — Banco de Occidente Panamá 23,439 (23,439) — 35,577 (35,577) — — Sociedad Portuaria El Cayao S.A. E.S.P. (3) 31,214 (31,214) — 10,072 (10,072) — — Gases del Pacífico S.A.C. (3) 4,000 (4,000) — 2,394 (2,394) — — Gas Natural de Lima y Callao S.A.C. – Calidda (3) 31,649 (19,336) — 7,996 (7,996) — — Total 4,204,704 (2,169,060) (2,017,464) Ps. 4,336,004 Ps. (1,675,850) Ps. (2,793,229) Ps. (133,075) December 31, 2017 Thousands of USD Ps. millions Amount of hedge by Cumulative financial Amount of translation Exchange Exchange liabilities in hedge by adjustment difference of difference in Investment foreign forward of the investments financial forward Net OCI Detail of investment amount currency contracts (1) liabilities (1) contracts account Leasing Bogotá Panamá 3,781,475 (2,067,100) (1,703,009) Ps. 3,065,281 Ps. (1,045,872) Ps. (2,155,488) Ps. (136,079) Other subsidiaries and branches Banco de Bogotá (2) 113,909 — (112,049) 92,891 — (90,431) 2,460 Occidental Bank Barbados 26,396 (26,396) — 18,740 (18,740) — — Banco de Occidente Panamá 25,044 (25,044) — 29,979 (29,979) — — Sociedad Portuaria El Cayao S.A. E.S.P. (3) 25,000 (25,000) — 2,207 (2,207) — — Gases del Pacífico S.A.C. (3) 10,214 (10,214) — 902 (902) — — Gas Natural de Lima y Callao S.A.C. – Calidda (3) 15,895 (15,895) — 1,272 (1,272) — — Total 3,997,933 (2,169,649) (1,815,058) Ps. 3,211,272 Ps. (1,098,972) Ps. (2,245,919) Ps. (133,619) (1) Includes exchange difference hedged (2) Includes Banco de Bogotá Panamá, Banco Bogotá Finance, Ficentro and contributions of foreign branches in Miami, New York and Nassau. (3) Includes only a portion of this investments hedged Hedging with Forward Contracts Forward contracts to sell U.S. dollars have been contracted to hedge part of the net foreign investment that Banco de Bogotá has in Leasing Bogotá Panamá and others foreign subsidiaries. The forward contracts were executed with counterparties from the financial sector and the hedge was documented as a "dynamic hedging strategy," where new forward contracts are signed simultaneously as the previous ones expire. According to IAS 39, changes in the fair value of derivatives due to changes in the peso/U.S. dollar exchange rate are registered under “Other Comprehensive Income” in equity and the ineffective part is recognized in the statement of income for the period Hedging with Debt in Foreign Currency in U.S. dollars Debt financial instruments that are not derivatives can be designated as hedging instruments of changes in foreign currency exchange rates. According to this rule Banco de Bogotá and Banco de Occidente designed debt in U.S. dollar as hedging instruments of their foreign subsidiaries as follows: · Bonds issued by Banco de Bogotá in the international market were designated as hedging instruments of its investment in Leasing Bogotá Panamá amounting US$2,067 million in 2018 and 2017. · Other financial liabilities in the amount of $102 million as December 31, 2018 (US$103 million as of December 31, 2017) were used to hedge part of the net foreign investment Banco de Occidente and Promigas have in foreign subsidiaries as part of a hedging strategy, by which when some obligations expire, new obligations will be designated to replace them. · Between December 21, 2015 and November 2, 2016, financial liabilities designated as hedging instruments described above included an intra-group liability amounting to US$ 500 million that Banco de Bogotá had as a hedging instrument of its investment in Leasing Bogotá Panamá. This operation was eliminated in the consolidation process of Grupo Aval and was excluded of the foreign investment hedge accounting. Starting May 1st and up to November 2nd, 2016 Grupo Aval designated financial assets in foreign debt securities amounting to US$ 500 million as cash flow hedge, the foreign exchange differences of this intra-group liability were not eliminated in the consolidation process and recorded in Other Comprehensive Income in the amount of Ps. 73,708. This value would be realized in the future as income only when the investment in Leasing Bogotá Panamá is sold. On November 2nd, 2016 Banco de Bogotá cancelled the intragroup liability amounting to US$ 500 million which was replaced in the foreign investment hedge accounting with other obligations in foreign currency with third parties. Hedging of Forecast Transactions In the ordinary course of its operations Promigas S.A. and its subsidiaries receive income in U.S. Dollars derived from the transportation of gas in their gas pipelines. Promigas and its subsidiaries hedge the exchange risk arising in future transactions of highly probable gas transportation income, entered into forward contracts for the sale of U.S. dollars with financial entities different from the ones consolidated into Grupo Aval. During the years ended December 31, 2018, 2017 and 2016, an exchange difference recognized under “Other Comprehensive Income” as a result of cash flow hedge accounting of income from these highly probable transactions, was reclassified to profit or loss in the amounts of Ps. (276), Ps. (26,846) and Ps. 5,037 respectively. The following is the summary of Promigas and its subsidiaries open cash flow hedges: December 31, 2018 December 31, 2017 Income in U.S. dollars forecasted 120,265 41,614 Notional amount contracts forward U.S. dollars 120,265 41,614 % hedged 100 % 100 % Fair value in Colombian pesos (13,414) 4,303 # of contracts 1,470 468 The movement of the accumulated OCI account related to cash flow hedges in Colombian pesos during the years ended on December 31, 2018, 2017 and 2016 is as follows: December 31, 2018 December 31, 2017 December 31, 2016 Balance at the beginning of the year Ps. 5,447 Ps. 7,419 Ps. (11,757) Changes in the fair value of the hedge forward contracts (19,513) 24,874 14,139 Reclassified to profit or loss (276) (26,846) 5,037 Balance at the end of the year Ps. (14,343) Ps. 5,447 Ps. 7,419 Testing of Hedge Effectiveness Grupo Aval considers hedging as highly effective if at the beginning and in subsequent periods, the hedging is highly effective at offsetting changes in fair value or in cash flows attributable to the risk hedged during the period for which the hedging has been designated. The hedging is considered as such if the effectiveness of the hedging is in a range between 80% and 125%. Such effectiveness is assessed by Grupo Aval’s entities at least quarterly and at the end of each accounting period. Grupo Aval has documented the hedging effectiveness of its foreign currency denominated investments in based on the portion of the net investment hedged at the beginning of the hedging relationship. Since the net balance of these investments fluctuates during the year, Grupo Aval evaluates the hedging relationship on a daily basis as well as the result of the testing of hedge effectiveness. Hedge Effectiveness with Forward Contracts Grupo Aval applies the method of the forward rate used in forward contracts to evaluate the hedge effectiveness; for such purpose, Grupo Aval measures the hedge ineffectiveness comparing the value of current forward contracts, which serve as hedge, with the change in the value of a hypothetical derivative with the same maturity. Hedge Effectiveness with Debt Instruments in Foreign Currency For debt instruments in foreign currency designated as a hedging instrument, the gain or loss arising from the conversion of the debt to Colombian Pesos is based on the current exchange rate between the U.S. dollar and the Colombian Peso, which is the functional currency of Grupo Aval. If the notional amount of the hedging instrument exactly matches with the portion of the hedged investment in foreign operations, no ineffectiveness is registered in the statement of income. Derivative Financial Instruments for hedging purposes comprise the following: December 31, 2018 December 31, 2017 Item Assets Liabilities Assets Liabilities Forward contracts Foreign currency to buy Ps. 28,367 Ps. 1,128 Ps. 1 Ps. 5,455 Foreign currency to sale 1,771 194,411 55,260 8,009 Total hedge derivatives Ps. 30,138 Ps. 195,539 Ps. 55,261 Ps. 13,464 Total hedge derivatives, net Ps. (165,401) Ps. 41,797

LOANS

LOANS	12 Months Ended
	Dec. 31, 2018
Disclosure of loans and receivables [Abstract]
Disclosure of loans and advances to customers [text block]	NOTE 11 – LOANS 11.1 Loan Portfolio by Product The distribution of the loan portfolio of Grupo Aval by product is shown as follows: December 31, 2018 December 31, 2017 (1) General purpose loans Ps. 65,923,472 Ps. 64,153,372 Personal loans 33,791,703 30,553,566 Mortgages 17,279,362 15,103,533 Credit Cards 15,550,920 13,846,823 Working capital loans 15,192,830 14,723,490 Commercial financial leases 9,858,952 9,892,402 Interbank & overnight funds 7,635,188 7,279,047 Automobile and vehicle loans 5,951,793 5,896,640 Loans funded by development banks 3,222,754 2,713,818 Housing leases 1,312,741 1,047,766 Overdrafts 481,946 525,867 Microcredit 425,697 409,688 Consumer financial leases 254,483 226,764 Gross balance of loan portfolio Ps. 176,881,841 Ps. 166,372,776 Loss allowance loan portfolio (2) (8,196,187) (5,618,481) Net balance of loan portfolio Ps. 168,685,654 Ps. 160,754,295 (1) Grupo Aval has initially adopted IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (B). ( 2 ) See reconciliations from the opening to the closing balance of the loss allowance on note 4.1.5. 11.2 Loan portfolio by maturity The distribution of loan portfolio of Grupo Aval by contractual maturity period is as follows: December 31, 2018 Up to 1 From 1 to From 3 to More than year 3 years 5 years 5 years Total Commercial Ps. 46,119,981 Ps. 18,810,647 Ps. 11,234,938 Ps. 16,384,459 Ps. 92,550,025 Consumer 15,798,783 10,507,521 10,794,506 18,099,771 55,200,581 Residential mortgage 287,133 504,727 676,978 15,810,524 17,279,362 Microcredit 226,651 182,245 13,345 3,456 425,697 Financial leasing (*) 2,344,468 2,826,293 2,801,147 3,454,268 11,426,176 Total gross loan portfolio Ps. 64,777,016 Ps. 32,831,433 Ps. 25,520,914 Ps. 53,752,478 Ps. 176,881,841 December 31, 2017 Up to 1 From 1 to From 3 to More than year 3 years 5 years 5 years Total Commercial Ps. 44,888,149 Ps. 19,651,034 Ps. 11,088,553 Ps. 13,908,758 Ps. 89,536,494 Consumer 16,240,350 11,146,916 8,809,557 13,959,308 50,156,131 Residential mortgage 469,702 785,736 857,039 12,991,056 15,103,533 Microcredit 209,364 178,052 17,707 4,565 409,688 Financial leasing (*) 2,159,750 2,889,713 2,496,769 3,620,698 11,166,930 Total gross loan portfolio Ps. 63,967,315 Ps. 34,651,451 Ps. 23,269,625 Ps. 44,484,385 Ps. 166,372,776 (*) See note 4.1.1 11.3 Interest income by portfolio The interest income of the loan portfolio of Grupo Aval by portfolio is shown as follows: December 31, 2018 December 31, 2017 December 31, 2016 Commercial Ps. 7,559,392 Ps. 8,420,789 Ps. 8,100,635 Consumer 8,280,113 8,087,403 7,312,009 Residential mortgage 1,442,638 1,278,001 1,135,929 Microcredit 108,472 113,774 116,943 Total interest income by portfolio Ps. 17,390,615 Ps. 17,899,967 Ps. 16,665,516 11.4 Financial Leasing portfolio As of December 31, 2018, and 2017 the following table shows the reconciliation between gross investment in financial leasing and the present value of minimum payments to be received in these dates: December 31, 2018 December 31, 2017 Total gross rent payments receivable Ps. 17,372,906 Ps. 16,445,998 Less amounts representing running costs (such as taxes, maintenance, insurances, etc.,) (286) (225) Plus, estimated residual amount of assets given for rental (without guarantee) 36,166 21,673 Gross investment in contracts of financial leasing 17,408,786 16,467,446 Less unrealized financial income (5,982,610) (5,300,516) Net investment in contracts of financial leasing 11,426,176 11,166,930 Impairment of net investment in financial leasing Ps. (471,007) Ps. (297,319) The detailed information of gross investment and net investment in financial leasing contracts receivable as of December 31, 2018 and 2017 in each period is as follows: December 31, 2018 Gross investment Net investment Up to 1 year Ps. 2,296,714 Ps. 1,579,195 From 1 to 5 years 6,799,539 4,870,790 More than 5 years 8,312,533 4,976,191 Total Ps. 17,408,786 Ps. 11,426,176 December 31, 2017 Gross investment Net investment Up to 1 year Ps. 2,147,421 Ps. 1,614,889 From 1 to 5 years 6,428,242 4,986,723 More than 5 years 7,891,783 4,565,318 Total Ps. 16,467,446 Ps. 11,166,930 The banks of Grupo Aval grant loans through the modality of financial leasing mainly for the financing of vehicles and computer equipment, generally with terms between 36 and 60 months with a purchase option, machinery and equipment with terms of 60 to 120 months with a purchase option at the end of the contract and for housing leasing with terms of 120 to 240 months transferring the asset at the end of the contract. All these leasing contracts are granted at current market interest rates at inception.

OTHER ACCOUNTS RECEIVABLE, NET

OTHER ACCOUNTS RECEIVABLE, NET	12 Months Ended
	Dec. 31, 2018
Disclosure of other accounts receivables [Abstract]
Disclosure of trade and other receivables [text block]	NOTE 12 – OTHER ACCOUNTS RECEIVABLE, NET Balances of other accounts receivable net of impairment losses comprise the following as of December 31, 2018 and 2017: December 31, December 31, Reference 2018 2017 (1) Contract assets 12.1 Ps. 5,119,649 Ps. 3,068,629 Other accounts receivable 12.2 4,437,885 3,680,116 Total other accounts receivable 9,557,534 6,748,745 Impairment allowance 4.1.5 (256,891) (226,862) Total other accounts receivable, net Ps. 9,300,643 Ps. 6,521,883 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2. 12.1 Contract assets The following table provides information about assets from contracts with customers as of December 31, 2018 and 2017: Contract assets December 31, 2018 December 31, 2017 (1) Financial assets in concession arrangements rights at fair value (2) Ps. 2,488,414 Ps. 2,282,611 Financial assets in concession arrangements rights at amortized cost (2) 2,631,235 786,018 Gross balance of other accounts receivable Ps. 5,119,649 Ps. 3,068,629 Impairment allowance (3)(4) (966) — Total contract assets Ps. 5,118,683 Ps. 3,068,629 (1) Grupo Aval has initially adopted IFRS 15 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (A), information about 2017 (2) See note 16 details about concession arrangements rights (3) Grupo Aval has initially adopted IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (B) (4) See reconciliations from the opening to the closing balance of the loss allowance on note 4.1.5. 12.2 Other accounts receivable The detailed information of other accounts receivable measured at amortized cost as of December 31, 2018 and 2017 is as follows: Other accounts receivable measured at amortized cost December 31, 2018 December 31, 2017 Accounts receivable for goods and services sales in Non-financial sector companies Ps. 962,364 Ps. 1,070,936 Debtors 406,079 224,340 Guarantee deposits in foreing currency transactions 377,751 142,168 Credit card compensations and network compensation 372,702 426,090 Payment in advance 370,144 228,765 Transfers in process 330,941 185,634 Dormant customer deposits ICETEX (1)(2) 279,219 256,806 Commissions 244,669 186,646 Fees, services and advances 241,147 224,418 Payment in advance to supplier's contract 151,313 117,858 Holding and parent establishment 136,551 114,513 Accounts receivable to payment offices 69,996 34,432 Transfers to the National Treasury (2) 61,046 58,042 Storage services 40,265 43,767 Quota shares retirement pensions 29,768 28,485 Promissory sellers 20,785 15,144 Claims to insurance companies 14,142 14,450 Deductible taxes 10,234 11,961 Payment in advance for industry and trade taxes 9,563 13,392 Dividends 1,086 3,561 Others (5) 308,120 278,708 Gross balance of other accounts receivable Ps. 4,437,885 Ps. 3,680,116 Impairment allowance (3)(4) (255,925) (226,862) Other accounts receivable, net Ps. 4,181,960 Ps. 3,453,254 (1) Pursuant to Colombian Law number 1777 of 2016, financial institutions in Colombia since August 1, 2016, must transfer the funds from clients’ in dormant customer deposits to a special fund as a loan to a Colombian Government entity denominated “ICETEX”, and classified as “Other accounts receivable” given it is permanently deemed refundable to any particular client. This Government Entity Fund is responsible for managing the monies funds with the commitment to return them at the time the bank customer account holder requests them. Dormant client’s customer deposits are accounts of savings or current accounts that exceed the 322 UVR (Real Value Units) equivalent to Ps. 260.665 pesos, on which no deposit, withdrawal, transfer or, in general, debit or credit movements have been made during an uninterrupted period of three years. (2) The expected dates of realization for these assets is more than twelve months (3) Grupo Aval has initially adopted IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (B) (4) See reconciliations from the opening to the closing balance of the loss allowance on note 4.1.5. (5) The table below shows detail of the others Detail others December 31, 2018 December 31, 2017 Receivable from forward contracts Ps. 130,989 Ps. 99,473 Interest 52,948 36,646 Other taxes 21,321 43,373 Value added taxes 39,098 2,806 Deficiency in savings accounts 6,864 6,074 Joint ventures 5,172 6,879 ACH, PSE, CENIT fees 4,988 8,732 Transaction fees 4,731 — Operative process 4,486 4,408 Credit card brands compensations 3,247 — SIIF condonations 2,219 4,435 Others 32,057 65,882 Total Ps. 308,120 Ps. 278,708

NON-CURRENT ASSETS HELD FOR SAL

NON-CURRENT ASSETS HELD FOR SALE	12 Months Ended
	Dec. 31, 2018
Disclosure of non-current assets held for sale [Abstract]
Disclosure of non-current assets held for sale and discontinued operations [text block]	NOTE 13 – NON-CURRENT ASSETS HELD FOR SALE The movement of the non-current assets held for sale during the years ended December 31, 2018, 2017 and 2016 is as follows: December 31, 2018 December 31, 2017 December 31, 2016 Balance at the beginning of the year Ps. 101,382 Ps. 259,527 Ps. 199,475 Additions 180,296 89,216 236,632 Assets sold (52,164) (78,784) (130,784) Changes in fair value (25,136) (37,818) (34,572) Reclassifications (1) (20,038) (134,795) (5,631) Exchange gains in foreign currency 2,374 4,036 (5,593) Balance at year end Ps. 186,714 Ps. 101,382 Ps. 259,527 (1) Includes reclassifications to: I) Investment properties by Ps. (19,718), II) other assets by Ps. (299) and III) Investments by Ps. (21) at December 2018 and I) Investment properties by PS. (108,924); II) Investments by Ps. (23,368) and III) Other assets by Ps. (2,503) at December 2017. The following is the detail of the non-current assets held for sale: December 31, 2018 December 31, 2017 Foreclosed assets Movable property Ps. 19,733 Ps. 8,523 Residential real estate 33,622 31,666 Other real estate 88,569 37,061 Ps. 141,924 Ps. 77,250 Assets received from leasing agreements Machinery and equipment 14,989 15,640 Vehicles 984 1,623 Real estate 25,060 1,963 Ps. 41,033 Ps. 19,226 Other non-current assets held for sale Real estate 3,517 982 Other 240 3,924 3,757 4,906 Total non-current assets held for sale Ps. 186,714 Ps. 101,382 Following is the detail of the associated liabilities to assets held for sale: December 31, 2018 December 31, 2017 Commercial accounts payable Ps. 15,876 Ps. 18,382 Total Ps. 15,876 Ps. 18,382 Non-current assets held for sale are primarily assets received through foreclosure from assets pledged as loan collateral. Accordingly, Grupo Aval´s intention is to sell them immediately, and it has departments, processes and special sales programs for that purpose. Foreclosed assets are either sold for cash or financing for their sale is provided to potential buyers under normal market conditions. These are expected to be sold within a period of 12 months subsequent to their classification as assets held for sale. There are options contracts in place for some of these assets. Note 4.1 on credit risk contains information on assets received through foreclosure and sold during the period. During the years ended on December 31, 2018, 2017 and 2016, there were no changes in plans for the disposal of non-current assets held for sale.

INVESTMENTS IN ASSOCIATES AND J

INVESTMENTS IN ASSOCIATES AND JOINT VENTURES	12 Months Ended
	Dec. 31, 2018
Disclosure of investments in associates and joint ventures [Abstract]
Disclosure of investment in associates and joint ventures [Text Block]	NOTE 14 – INVESTMENTS IN ASSOCIATES AND JOINT VENTURES The detail of the investments in associates and joint ventures is as follows: December 31, 2018 December 31, 2017 Associates Ps. 975,032 Ps. 925,823 Joint ventures 7,711 117,191 Total Ps. 982,743 Ps. 1,043,014 The following table shows the balances of each investment in associates and joint ventures as of December 31, 2018 and 2017, and Grupo Aval’s ownership interest percentage in those entities: December 31, 2018 December 31, 2017 Ownership Book Ownership Book interest value interest value Associates A.C.H Colombia S.A. 34 % Ps. 14,010 34 % Ps. 12,357 Redeban Multicolor S.A. 20 % 20,508 20 % 19,529 Credibanco 25 % 195,157 25 % 196,071 Aerocali S.A. 50 % 19,157 50 % 17,633 Colombiana de Extrusión S.A. Extrucol 30 % 11,327 30 % 11,476 Concesionaria Tibitoc S.A. 33 % 18,339 33 % 20,165 Metrex S.A. 18 % 2,054 18 % 2,559 C.I. Acepalma S.A. (*) 11 % 5,458 11 % 5,625 Gases del Caribe S.A. E.S.P. 31 % 269,185 31 % 269,739 Gas Natural de Lima y Callao S.A. -Calidda S.A. 40 % 410,984 40 % 363,139 Energía Eficiente S.A. 39 % 8,252 39 % 6,927 Concentra Inteligencia en Energía S.A.S. 24 % 601 24 % 603 Ps. 975,032 Ps. 925,823 December 31, 2018 December 31, 2017 Ownership Book Ownership Book interest value interest value Joint ventures Cfc Sk Eldorado Latam Advisory Company S.A.S. (1) 50 % Ps. 398 50 % Ps. 345 Cfc Sk El Dorado Latam Management Company Ltd (1) 50 % 6,764 50 % 4,568 Cfc Sk El Dorado Latam Capital Partner Ltd (1) 50 % 549 50 % 495 Concesionaria Ruta Del Sol S.A.S. (2) (**) 33 % — 33 % 111,783 Ps. 7,711 Ps. 117,191 (*) Grupo Aval has significant influence over C.I. Acepalma S.A. due to its participation in the Board of Directors. (**) On December 31, 2018 the investment in Concesionaria Ruta del Sol S.A.S. has been provisioned at 100% by Ps.111,783. The main corporate purpose of Grupo Aval´s associates is described as follows: Associate Corporate purpose 1 A.C.H. Colombia S.A. Financial transactions 2 Redeban Multicolor S.A. Payment processing 3 Aerocali S.A Projects in airport infrastructure 4 Colombiana de Extrusión S.A. - Extrucol Networks and infrastructure 5 Concesionaria Tibitoc S.A. Infrastructure projects 6 Metrex S.A. Manufacturing and commercialization of industrial equipment 7 C.I. Acepalma S.A. Oil palm farming and subproducts 8 Gases del Caribe S.A. E.S.P. Gas distribution 9 Gas Natural de Lima y Callao S.A. - Calidda Gas distribution 10 Concentra Inteligencia en Energía S.A.S. Gas distribution 11 Energía Eficiente S.A. Gas distribution 12 Credibanco S.A. Payment processing Below is the detail of the corporate purpose of significant joint ventures in concession agreements: (1) Different joint businesses executed by Grupo Aval’s subsidiaries with specific purposes wherein the joint business assumes no responsibilities for business results, not requiring significant equity resources from Grupo Aval. In June 2017 Cfc Sk El Dorado Latam Fund L.P. went from being a Joint venture to an investment in equity securities in the trading portfolio. (2) Estudios Proyectos del Sol S.A.S. ("Episol"), 100% owned subsidiary of Corficolombiana S.A. carried out an impairment analysis on its investment in Concesionaria Ruta del Sol S.A.S. (CRDS), a company in which it participates in 33% of its share capital, reflecting an adjustment in the amount of Ps.140,691 for 2017. The balance of this investment after the impairment expense amounts to Ps.111,783. In November 2018, according to the analysis carried out internally and taking into account outlines set out in International Financial Reporting Standards, the deterioration of the remaining balance of the investment was recognized through a provision. To date 100% of the investment in the Concessionaire Ruta del Sol SAS has already been fully provisioned. As of December 31, 2018, and 2017, Grupo Aval did not have contingent assets as income receivable that arose from any contractual difference with any concession, other than any tariff recognition. There were also no contingent liabilities for fines or sanctions imposed by the Government in the development of concession contracts for possible contractual breaches. A roll-forward of investments in associates and joint ventures accounts is shown below for the years ended at December 31, 2018, 2017 and 2016: Associates December 31, December 31, December 31, 2018 2017 2016 Balance at the beginning of the year Ps. 925,823 Ps. 865,410 Ps. 645,377 Change in accounting policy see note 2.5 B (IFRS 9) (3,691) — — Acquisitions — — 16 Gain in non-monetary transactions (*) — — Participation in the profit or loss of the period 195,991 170,349 Participation in Other Comprehensive Income 22,400 1,135 (17,949) Dividends received (171,899) (107,812) (96,375) Capitalization reductions — — (4,746) Allowance for Impairment — — (4,027) Reclassifications — — — Exchange difference 6,408 (3,259) (267) Year-end balance Ps. 975,032 Ps. 925,823 Ps. (*) Since November 30, 2016, Grupo Aval has significant influence on Credibanco. On August 26, 2016 Credibanco’s General Shareholders Meeting agreed to transform the society from a non-profit organization to a Limited Liability Company, which is now accounted for as an associate. Joint ventures December 31, December 31, December 31, 2018 2017 2016 Balance at the beginning of the year Ps. 117,191 Ps. 281,237 Ps. 282,222 Participation in the period profit or loss 1,724 1,615 (7,102) Participation in Other Comprehensive Income — (7) (2,112) Dividends received — — — Capitalization — 87 17,282 Allowance for impairment (*) (111,783) (140,691) (5,892) Transfers / reclassification — (12,405) (3,569) Exchange difference 579 — 408 Balance acquired in business combination — (12,645) — Year-end balance Ps. 7,711 Ps. 117,191 Ps. 281,237 (*) Impairment of the investment in the Concesionaria Ruta del Sol S.A.S. joint businesses (CRDS). The condensed financial information of the associates and joint ventures is as follows: Associates December 31, 2018 Assets Liabilities Equity Income Expenses Net income A.C.H. Colombia S.A. Ps. 78,878 Ps. 37,437 Ps. 41,441 Ps. 83,612 Ps. 64,067 Ps. 19,545 Redeban Multicolor S.A. 213,133 111,626 101,507 214,360 201,980 12,380 Credibanco 263,521 93,951 169,570 240,489 219,166 21,323 Aerocali S.A. 104,506 66,191 38,315 214,805 205,171 9,634 Colombiana de Extrusión S.A. Extrucol 86,398 48,642 37,756 113,749 108,781 4,968 Concesionaria Tibitoc S.A. 57,420 2,403 55,017 20,468 15,964 4,504 Metrex S.A. 31,482 19,938 11,544 43,468 41,254 2,214 C.I. Acepalma 281,161 232,843 48,318 723,908 717,637 6,271 Gases del Caribe S.A. 2,585,669 1,608,107 977,562 1,938,431 1,646,970 291,461 Cálidda S.A. 2,943,477 1,916,017 1,027,460 2,007,368 1,804,907 202,461 Concentra Inteligencia en Energía S.A.S. 2,560 435 2,125 1,234 1,292 (58) Energía Eficiente S.A. 57,226 36,188 21,038 112,914 109,488 3,426 Ps. 6,705,431 Ps. 4,173,778 Ps. 2,531,653 Ps. 5,714,806 Ps. 5,136,667 Ps. 578,129 December 31, 2017 Assets Liabilities Equity Income Expenses Net income A.C.H. Colombia S.A. Ps. 56,670 Ps. 20,119 Ps. 36,551 Ps. 69,120 Ps. 54,746 Ps. 14,374 Redeban Multicolor S.A. 177,667 81,001 96,666 160,470 149,902 10,568 Credibanco 253,991 84,294 169,697 207,592 180,422 27,170 Aerocali S.A. 133,977 99,008 34,969 117,169 100,900 16,269 Colombiana de Extrusión S.A. Extrucol 68,059 29,807 38,252 65,870 62,201 3,669 Concesionaria Tibitoc S.A. 79,566 19,069 60,497 47,125 34,003 13,122 Metrex S.A. 38,933 24,726 14,207 47,763 43,003 4,760 C.I. Acepalma 290,406 240,547 49,859 798,782 789,925 8,857 Gases del Caribe S.A. 2,363,464 1,481,320 882,144 1,577,041 1,343,286 233,755 Cálidda S.A. 2,441,398 1,536,738 904,660 1,575,804 1,402,709 173,095 Concentra Inteligencia en Energía S.A.S. 2,331 231 2,100 1,634 1,491 143 Energía Eficiente S.A. 40,853 23,142 17,711 92,170 89,709 2,461 Ps. 5,947,315 Ps. 3,640,002 Ps. 2,307,313 Ps. 4,760,540 Ps. 4,252,297 Ps. 508,243 Joint ventures December 31, 2018 Assets Liabilities Equity Income Expenses Net income CFC SK Eldorado Latam Advisory Company S.A.S. Ps. 1,077 Ps. 281 Ps. 796 Ps. 1,939 Ps. 1,762 Ps. 177 Cfc Sk Eldorado Latam Management Company Ltd. 13,573 45 13,528 3,697 410 3,287 Cfc Sk Eldorado Latam Capital Partners, Ltd. 1,125 26 1,099 150 126 24 Ps. 15,775 Ps. 352 Ps. 15,423 Ps. 5,786 Ps. 2,298 Ps 3,488 December 31, 2017 Assets Liabilities Equity Income Expenses Net income CFC SK Eldorado Latam Advisory Company S.A.S. Ps. 893 Ps. 204 Ps. 689 Ps. 2,037 Ps. 1,877 Ps. 159 Cfc Sk Eldorado Latam Management Company Ltd. 9,169 34 9,135 3,584 374 3,210 Cfc Sk Eldorado Latam Capital Partners, Ltd. 1,007 16 991 — 131 (131) Concesionaria Vial del Pacífico (*) 424,888 424,379 509 113,113 115,567 (2,454) Concesionaria Nueva Vía al Mar (*) 188,731 166,955 21,776 26,215 23,049 3,166 Ps. 624,688 Ps. 591,588 Ps. 33,100 Ps. 144,949 Ps. 140,998 Ps 3,950 (*) As of December 2017, the investment stopped being a Joint Venture and became a controlled investment. (See note 15, this acquisition is considered non-significant).

TANGIBLE ASSETS

TANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [abstract]
Disclosure of property, plant and equipment [text block]	NOTE 15 – TANGIBLE ASSETS The movement of the carrying value amounts of tangible assets for the years ended on December 31, 2018, 2017 and 2016 is as follows: For own Given in Investment Biological assets use (2) operating leases properties (4) at fair value Total Cost Balance as of January 1, 2016 Ps. 7,969,593 Ps. 10,491 Ps. 538,246 Ps. 240,212 Ps. 8,758,542 Reclassification of bearer plants balance (1) 188,177 — — (188,177) — Effects of amendments in accounting policies of bearer plants 29 — — (18,108) (18,079) Purchases or capitalized expenses 814,194 362 71,268 21,432 907,256 Withdrawals / Sales (367,987) (3,806) (61,786) (20,670) (454,249) Changes in fair value — — 53,680 14,644 68,324 Transfers to/from non-current assets held for sale (18,704) — 11,319 — (7,385) Adjustments for exchange differences (138,320) — — — (138,320) Reclassifications (58,046) — (2,539) (1,331) (61,916) Balance as of December 31, 2016 8,388,936 7,047 610,188 48,002 9,054,173 Purchases or capitalized expenses 470,650 3,102 84,036 24,409 582,197 Withdrawals / Sales (5) (374,606) (2,467) (28,431) (19,775) (425,279) Changes in fair value — — 46,675 13,503 60,178 Transfers to/from non-current assets held for sale 587 — 101,469 — 102,056 Adjustments for exchange differences (65,404) — — — (65,404) Reclassifications 77,394 — (30,143) — 47,251 Balance as of December 31, 2017 8,497,557 7,682 783,794 66,139 9,355,172 Purchases or capitalized expenses (3) 547,668 1,641 61,300 20,900 631,509 Withdrawals / Sales (5) (389,303) (1,539) (78,684) (23,343) (492,869) Changes in fair value (6) — — 39,415 20,606 60,021 Transfers to/from non-current assets held for sale 1,335 — 19,719 — 21,054 Adjustments for exchange differences 120,766 — — — 120,766 Reclassifications (37,538) — 10,780 (96) (26,854) Balance as of December 31, 2018 8,740,485 7,784 836,324 84,206 9,668,799 Accumulated Depreciation: Balance January 1, 2016 (2,236,346) (7,064) — — (2,243,410) IAS 41 Adoption Effect – agriculture (29) — — — (29) Depreciation for the year charged to profit or loss (454,620) (1,232) — — (455,852) Withdrawals / Sales 126,782 3,413 — — 130,195 Transfers to/from non-current assets held for sale 10,781 — — — 10,781 Adjustments for exchange differences 71,582 — — — 71,582 Reclassification (5,338) — — — (5,338) Balance December 31, 2016 (2,487,188) (4,883) — — (2,492,071) Depreciation of the year charged against profit or loss (463,133) (759) — — (463,892) Withdrawals / Sales (5) 274,804 2,036 — — 276,840 Adjustments for exchange differences 20,881 — — — 20,881 Reclassification (35,531) — — — (35,531) Balance December 31, 2017 (2,690,167) (3,606) — — (2,693,773) Depreciation of the year charged against profit or loss (477,260) (1,346) — — (478,606) Withdrawals / Sales (5) 164,541 1,381 — — 165,922 Adjustments for exchange differences (63,058) — — — (63,058) Reclassification (4,897) — — — (4,897) Balance December 31, 2018 (3,070,841) (3,571) — — (3,074,412) Impairment losses: Balance as of January 1, 2016 (1,017) (67) — — (1,084) Year impairment charge (1,482) (21) — — (1,503) Balance as of December 31, 2016 (2,499) (88) — — (2,587) Withdrawals / Year impairment charge (4,894) 88 — — (4,806) Balance as of December 31, 2017 (7,393) — — — (7,393) Withdrawals / Year impairment charge 1,492 (3) — — 1,489 Balance as of December 31, 2018 (5,901) (3) — — (5,904) Tangible Assets, net: Balance as of December 31, 2017 Ps. 5,799,997 Ps. 4,076 Ps. 783,794 Ps. 66,139 Ps. 6,654,006 Balance as of December 31, 2018 Ps. 5,663,743 Ps. 4,210 Ps. 836,324 Ps. 84,206 Ps. 6,588,483 (1) Recognition of bearer plants See note 2.19. (2) Only includes assets for own use different than assets given in operating lease (see note 15.2). (3) The total of purchases of for own use, includes Ps. 325 for capitalization of intangible. (4) The total of purchases of investment properties, includes Ps. 6,895 at December 31, 2018 and Ps. 8,219 at December 31, 2017, of assets received in total or partial settlement of the payment obligations of debtors. (5) The total of Withdrawals includes Ps. (114,099) in Own Use, Ps. 3,064 in investment properties and Ps. (4,225) in biological assets, from the liquidation of “Pizano and Banco Corficolombiana Panamá” at December 31, 2018 and Ps. (30,440) in Own Use of the liquidation of “Consorcio Consol” at December 31, 2017. (6) The total of changes in fair value of investment properties includes Ps. 9,888 by Withdrawals of the period. 15.1. Properties, plant and equipment for own use The following is the detail of the balance at December 31, 2018 and 2017, by type: Accumulated Impairment Carrying Cost depreciation loss amount December 31, 2018 Land Ps. 1,011,018 Ps. — Ps. (3,742) Ps. 1,007,276 Buildings 2,652,100 (569,741) — 2,082,359 Office equipment and accessories 1,013,974 (684,617) (262) 329,095 Information technology equipment 1,725,795 (1,260,973) — 464,822 Vehicles 134,417 (70,826) (35) 63,556 Equipment and machinery 1,354,271 (222,139) (1,862) 1,130,270 Silos 8,613 (5,739) — 2,874 Warehouses 44,416 (26,679) — 17,737 Advanced payments for the acquisition of plant property and equipment 1,284 — — 1,284 Improvements in leaseholds properties 381,158 (220,939) — 160,219 Construction in progress 185,264 — — 185,264 Bearer plants 228,175 (9,188) — 218,987 Balance as of December 31, 2018 Ps. 8,740,485 Ps. (3,070,841) Ps. (5,901) Ps. 5,663,743 Accumulated Impairment Carrying Cost depreciation loss amount December 31, 2017 Land Ps. 1,007,788 Ps. — Ps. (3,741) Ps. 1,004,047 Buildings 2,640,644 (485,924) (116) 2,154,604 Office equipment and accessories 944,127 (613,400) (226) 330,501 Information technology equipment 1,573,284 (1,121,179) (11) 452,094 Vehicles 131,301 (62,304) — 68,997 Equipment and machinery 1,362,242 (187,500) (3,299) 1,171,443 Silos 8,613 (4,760) — 3,853 Warehouses 43,592 (25,734) — 17,858 Advanced payments for the acquisition of plant property and equipment 6,974 — — 6,974 Improvements in leaseholds properties 348,431 (182,318) — 166,113 Construction in progress 211,120 — — 211,120 Bearer plants 219,441 (7,048) — 212,393 Balance as of December 31, 2017 Ps. 8,497,557 Ps. (2,690,167) Ps. (7,393) Ps. 5,799,997 15.2 Properties, plant and equipment given in operating lease: The following is movement of carrying value amounts of the balance to as of December 31, 2018 and 2017, by type: Accumulated Impairment Carrying December 31, 2018 Cost depreciation loss amount Equipment, furniture and office equipment Ps. 98 Ps. (98) Ps. — Ps. — Computing equipment 4,041 (1,641) 1 2,401 Vehicles 3,176 (1,648) (4) 1,524 Mobilization equipment and machinery 469 (184) — 285 Balance as of December 31, 2018 Ps. 7,784 Ps. (3,571) Ps. (3) Ps. 4,210 Accumulated Impairment Carrying December 31, 2017 Cost depreciation loss amount Equipment, furniture and office equipment Ps. 203 Ps. (203) Ps. — Ps. — Computing equipment 3,363 (1,484) — 1,879 Vehicles 3,627 (1,834) — 1,793 Mobilization equipment and machinery 489 (85) — 404 Balance as of December 31, 2017 Ps. 7,682 Ps. (3,606) Ps. — Ps. 4,076 Below is a summary of the minimum lease payments to be received in the next years based on assets given in operating lease to December 31, 2018 and 2017: December 31, December 31, 2018 2017 Less than a year Ps. 2,313 Ps. 2,833 More than a year, less than 5 2,588 2,435 Total Ps. 4,901 Ps. 5,268 15.3 Biological Assets Following is the detail of the biological assets by type: December 31, 2018 December 31, 2017 African palm In production (at fair value) Ps. 29,783 Ps. 26,555 Rubber plantations In production (at fair value) 41,533 24,158 Other at fair value (1) 12,890 15,426 Total Ps. 84,206 Ps. 66,139 (1) Includes short-term crops, livestock and fish farming. During the years ended on December 31, 2018, 2017 and 2016, Grupo Aval recorded in its statement of income the following and expenses income related to biological assets: December 31, December 31, December 31, 2018 2017 2016 Sales of biological goods Ps. 88,382 Ps. 43,788 Ps. 39,032 Changes in fair value of biological assets 20,606 13,503 14,644 Subtotal 108,988 57,291 53,676 Costs and expenses (73,981) (37,313) (27,067) Depreciation of bearer plants (11,816) (3,405) (2,665) General administration costs and sales (5,390) (7,278) (4,379) Financial costs (5,599) (4,136) (2,285) Subtotal (96,786) (52,132) (36,396) Total net income Ps. 12,202 Ps. 5,159 Ps. 17,280 The following is the detail of the hectares sown by subordinates of Grupo Aval in the process of growth and in the production process as of December 31, 2018 and 2017: December 31, December 31, 2018 2017 Areas planted in hectares In production process 8,534 7,731 The following is the detail of hectares for expected years of production: December 31, December 31, 2018 2017 Areas planted in hectares Less than 1 year 1,639 1,168 Between 1 and 5 years 3,194 1,078 Between 5 and 10 years 1,966 2,074 More than 10 years 1,735 3,411 Total 8,534 7,731 15.4 Investment properties The following table summarizes investment properties as of December 31, 2018 and 2017: Accumulated adjustments to fair December 31, 2018 Cost value Carrying amount Land Ps. 371,087 Ps. 198,252 Ps. 569,339 Buildings 215,712 51,273 266,985 Balance as of December 31, 2018 Ps. 586,799 Ps. 249,525 Ps. 836,324 Accumulated adjustments to fair December 31, 2017 Cost value Carrying amount Land Ps. 365,675 Ps. 159,836 Ps. 525,511 Buildings 217,897 40,386 258,283 Balance as of December 31, 2017 Ps. 583,572 Ps. 200,222 Ps. 783,794 The following amounts have been recognized in the Consolidated Statement of Income during the years ended on December 31, 2018, 2017 and 2016 in relation to investments properties: December 31, December 31, December 31, 2018 2017 2016 Income from rents Ps. 10,370 Ps. 11,992 Ps. 5,183 Direct operating expenses deriving from property investments which create income from rent (1,486) (1,053) (321) Direct operating expenses deriving from property investments which do not create income from rent (5,112) (4,239) (1,328) Ps. 3,772 Ps. 6,700 Ps. 3,534

CONCESSION ARRANGEMENTS RIGHTS

CONCESSION ARRANGEMENTS RIGHTS	12 Months Ended
	Dec. 31, 2018
Disclosure of detailed information about service concession arrangements [abstract]
Disclosure of service concession arrangements [text block]	NOTE 16 – CONCESSION ARRANGEMENTS RIGHTS The following is the balance of the assets in concession agreements registered in the Group as of December 31, 2018 and 2017: December 31, 2018 December 31, 2017 Financial assets at fair value (3) Ps. 2,488,414 Ps. 2,282,611 Financial asset at amortized cost net (1) (2) (3) 2,630,269 786,018 Intangible asset (2) 5,514,481 3,114,167 Total assets in concession contracts Ps. 10,633,164 Ps. 6,182,796 (1) At December 31, 2018, the balance of the financial asset at amortized cost includes an impairment expense of Ps. 966, see note 16.1. (2) Grupo Aval has initially adopted IFRS 15 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See notes 2.5. (3) See note 12, other accounts receivables. 16.1 Financial Assets in Concession Arrangements The following table shows the changes in financial assets in concession arrangements registered in Grupo Aval’s subsidiaries for the years ended at December 31, 2018 and 2017: Gas and Energy Infrastructure Total Balance at December 31, 2015 Ps. Ps. Ps. Additions or new concession arrangements — Collections during the year — Adjustment to fair value credited to income — Accrued interest — Balance at December 31, 2016 Ps. Ps. Ps. Additions or new concession arrangements (1) — Collections during the year — Adjustment to fair value credited to income — Accrued interest — Balance at December 31, 2017 Ps. Ps. Ps. Impact of the adoption of IFRS 15 (2) — Impact of the adoption of IFRS 9 (2) (3) — Balance at January 01, 2018 Ps. Ps. Ps. Additions or new concession arrangements — Collections during the year — Adjustment to fair value credited to income — Accrued interest — Impairment expense — Balance at December 31, 2018 Ps. Ps. Ps. (1) Corporación Financiera Colombiana - Corficolombiana S.A., acquired an additional 40% of the Concesionaria Vial del Pacífico S.A.S. and an additional 40% of the Concesionaria Nueva Vía al Mar S.A.S., both domiciled in Colombia, increasing amortized cost in Ps. 396,467 (this acquisition is considered non-significant). (2) Grupo Aval has initially adopted IFRS 15 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5. (3) See note 12, other accounts receivables. 16.2 Intangible Assets in Concession Arrangements The following table shows a roll-forward of the main concession agreements in Grupo Aval’s subsidiaries under intangible assets during the years ended at December 31, 2018, 2017 and 2016: Gas and energy Infrastructure Total Cost At December 31, 2015 Ps. 1,884,476 Ps. 888,834 Ps. 2,773,310 Additions 421,202 190,977 612,179 Reclassification to PPE 68,587 4 68,591 Withdrawals / Sales (4,334) (17) (4,351) At December 31, 2016 Ps. 2,369,931 Ps. 1,079,798 Ps. 3,449,729 Additions 193,489 417,420 610,909 Reclassification to PPE (14,408) — (14,408) Withdrawals / Sales (1,915) (1,590) (3,505) Foreign exchange adjustment (1,041) — (1,041) At December 31, 2017 Ps. 2,546,056 Ps. 1,495,628 Ps. 4,041,684 Impact of the adoption of IFRS 15 (2) — 619,949 619,949 Balance at January 01, 2018 Ps. 2,546,056 Ps. 2,115,577 Ps. 4,661,633 Additions 428,375 1,617,306 2,045,681 Reclassification to PPE 25,840 — 25,840 Withdrawals / Sales (1,250) (124) (1,374) Foreign exchange adjustment 33,993 — 33,993 At December 31, 2018 Ps. 3,033,014 Ps. 3,732,759 Ps. 6,765,773 Accumulated Amortization At December 31, 2015 Ps. (149,743) Ps. (232,865) Ps. (382,608) Amortization of the year (100,850) (159,817) (260,667) Reclassification to PPE (2,111) (2) (2,113) Withdrawals / sales 973 — 973 At December 31, 2016 Ps. (251,731) Ps. (392,684) Ps. (644,415) Amortization of the year (119,549) (164,940) (284,489) Reclassification to PPE 841 — 841 Withdrawals / sales 630 — 630 Foreign exchange adjustment (84) — (84) At December 31, 2017 Ps. (369,893) Ps. (557,624) Ps. (927,517) Amortization of the year (129,509) (170,701) (300,210) Reclassification to PPE (665) — (665) Withdrawals / sales (1) 147 (21,230) (21,083) Foreign exchange adjustment (1,817) — (1,817) At December 31, 2018 Ps. (501,737) Ps. (749,555) Ps. (1,251,292) Total Intangible Assets Balance at December 31, 2015 Ps. 1,734,733 Ps. 655,969 Ps. 2,390,702 Cost 485,455 190,964 676,419 Amortization (101,988) (159,819) (261,807) Balance at December 31, 2016 Ps. 2,118,200 Ps. 687,114 Ps. 2,805,314 Cost 176,125 415,830 591,955 Amortization (118,162) (164,940) (283,102) Balance at December 31, 2017 Ps. 2,176,163 Ps. 938,004 Ps. 3,114,167 Impact of the adoption of IFRS 15 (2) — 619,949 619,949 Balance at January 01, 2018 2,176,163 Ps. 1,557,953 Ps. 3,734,116 Cost 486,958 1,617,182 2,104,140 Amortization (131,844) (191,931) (323,775) Balance at December 31, 2018 Ps. 2,531,277 Ps. 2,983,204 Ps. 5,514,481 (1) In infrastructure, Proyectos de Infraestructura PISA S.A. includes an amortization of Ps. 21,230 that was offset with a liability outstanding with Agencia Nacional de Infraestructura – (ANI), due to the liquidation of the capacity records with the ANI. (2) Grupo Aval has initially adopted IFRS 15 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5. The following is a summary of the main concession contracts granted to Grupo Aval’s subsidiaries as of December 31, 2018 Year of Concession Contract construction % progress Concession Owner Business and country Objective Current stage date start of construction end date Gas and Energy Surtigas S.A. E.S.P. Gas and Energy Colombia Purchase, storage, packaging and distribution of gases derived from hydrocarbons. Operation 03/1984 to 04/1994 1984 100 % 2034 to 2045 Transmetano E.S.P. S.A. Gas and Energy Colombia Construction, operation and maintenance of gas transportation systems. Operation and maintenance 08/1994 1996 100 % 2044 Promigas S.A. E.S.P. Gas and Energy Colombia Purchase, sale, transportation, distribution, exploitation and exploration of natural gas, oil and hydrocarbons in general. Operation 05/1976 to 11/1994 1976 100 % 2026 to 2044 Promioriente S.A. E.S.P. Gas and Energy Colombia Construction, operation and maintenance of gas pipelines. Operation and maintenance 09/1995 1995 100 % 2045 Gases de Occidente S.A. E.S.P. Gas and Energy Colombia Transportation and distribution of liquefied petroleum gas and natural gas. Operation 08/1998 1998 100 % 2047 Compañía Energética de Occidente S.A. E.S.P. Gas and Energy Colombia Administrative, operational, technical and commercial management for the provision of electrical energy. Construction and Operation 01/2010 2010 34 % 2035 Gases del Pacífico S.A.C. Gas and Energy Perú Purchase, sale, production, commercialization of energy in any of its forms. Construction and Operation 10/2013 2015 37 % 2034 Sociedad Portuaria El Cayao S.A. E.S.P. Gas and Energy Perú Construction, maintenance and administration of ports. Operation and maintenance 07/2015 2015 100 % 2035 Infrastructure Proyectos de Infraestructura S.A. Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation and maintenance 12/1993 1994 100 % 2033 Concesionaria Vial de los Andes S.A.S. - Coviandes Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation and maintenance 08/1994 1996 100 % 2019 to 2023 Concesiones CCFC S.A.S. Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation and maintenance 06/1995 2001 100 % 2024 Concesionaria Panamericana S.A.S. Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation and maintenance 12/1997 2009 100 % 2035 Concesionaria Vial del Pacífico S.A.S. Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Construction 09/2014 2018 14.03 % 2040 Concesionaria Nueva Vía del Mar S.A.S. Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Preconstruction 01/2015 N/A 2.61 % 2044 Concesionaria Vial Andina S.A.S. Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Construction 06/2015 2016 38.37 % 2050 Concesionaria Vial Del Oriente S.A.S. Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Construction 07/2015 2018 12.83 % 2038

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2018
Disclosure of detailed information about goodwill [Abstract]
Disclosure of goodwill [text block]	NOTE 17 – GOODWILL The following is the roll-forward of the goodwill balance during the years ended December 31, 2018 and 2017: December 31, 2018 December 31, 2017 Balance at the beginning of the year Ps. 6,901,056 Ps. 6,824,935 Additions / Purchases (1) — 102,376 Foreign exchange adjustment (2) 417,538 (26,255) Balance at the end of the year Ps. 7,318,594 Ps. 6,901,056 (1) In 2017 Corficolombiana acquired an additional 40 % of the Concesionaria Vial del Pacífico – Covipacífico S.A.S., located in Colombia. The business acquisition generated Goodwill of Ps. 102,376 (this acquisition is considered non-significant). (2) The foreign exchange adjustment is attributable to Leasing Bogotá Panamá. The following is the detail of goodwill assigned by cash generating units (CGU) representing the lowest identifiable level within Grupo Aval and monitored by management. In addition the values of goodwill are not greater than the identified business’ segments: Goodwill carrying amount December 31, December 31, CGU 2018 2017 Leasing Bogotá Panamá (2) Ps. 5,105,901 Ps. 4,688,363 Banco de Bogotá S.A. over Megabanco (1) 465,905 465,905 Promigas S.A. and Subsidiaries 169,687 169,687 Concesionaria Panamericana S.A.S. 119,915 119,915 Concesionaria Covipacífico S.A.S. 102,376 102,376 Hoteles Estelar S.A. 6,661 6,661 Banco de Occidente S.A. over Banco Unión (1) 22,724 22,724 Banco Popular S.A. 358,401 358,401 Banco de Bogotá S.A. 301,222 301,222 Banco de Occidente S.A. 127,571 127,571 Sociedad Administradora de Pensiones y Cesantías Porvenir S.A. 538,231 538,231 Ps. 7,318,594 Ps. 6,901,056 (1) Goodwill recognized as a result of mergers into these entities. (2) The foreign exchange adjustment is attributable to Leasing Bogotá Panamá. The recoverable amount of each cash generating unit was determined based on market values of banks, listed in stock exchanges and a recoverable amount is determined by a study for those not listed in stock exchanges. Such calculations used cash flow projections, covering periods from 5 to 20 years. Cash flows subsequent to these periods were extrapolated using estimated growth rates for such flows, not exceeding the average of the economic sector where the cash generating unit operates. There are no impairment losses for the periods ended as of December 31, 2018 and 2017, given that the recoverable amounts of these cash-generating units exceed the book value. Below is a detail of the most significant values that comprise Goodwill, representing more than 80% of the Goodwill balance detailed above: A. Leasing Bogotá S.A. Panamá On December 9, 2010, Banco de Bogotá S.A. acquired control of BAC Credomatic Inc (BAC COM) through its subsidiary Leasing Bogotá S.A. Panamá (LBP), which is the Panamanian company that executed the purchase agreement. BAC Credomatic Inc. (BAC COM), a company incorporated to do business under the laws of the British Virgin Islands, is the owner of Banco BAC International Bank, Inc. and the operations of BAC Credomatic Inc. (BAC) in Central America. With the acquisition of BAC COM, through LBP, BAC’s corporate structure now is controlled by Banco de Bogotá S.A., which is controlled, in turn, by Grupo Aval. Goodwill was generated and recognized as a result of that operation. Banco de Bogotá was authorized by the Superintendency of Finance to make this acquisition, through its subsidiary Leasing Bogotá Panamá, as indicated in Official Notice 2010073017‑ 048 dated December 3, 2010. Afterwards, ninety-eight point ninety-two percent (98.92%) of the shares of Banco Bilbao Vizcaya Argentaria S.A. Panamá (BBVA Panamá, now BAC de Panamá) were acquired by Banco de Bogotá, through its subsidiary Leasing Bogotá Panamá, under authorization from the Superintendency of Finance, as per Official Notice 2013072962‑052 dated December 12, 2013. Also, one hundred percent (100.00%) of the shares of Banco Reformador de Guatemala (Reformador) and of Transcom Bank Limited in Barbados (Transcom) were acquired, and both banks were stated as Grupo Financiero Reformador de Guatemala. The Superintendency of Finance authorized Banco de Bogotá to acquire these banks, through its subsidiaries Credomatic International Corporation and BAC Credomatic Inc., as per Official Notice 2013068082‑062 dated December 3, 2013. Finally, during 2015, Credomatic International Corporation, a subsidiary of the company, acquired 100% of the issued and outstanding shares of COINCA Corporation Inc. (COINCA) and Corporación Tenedora BAC Credomatic S.A., and an indirect subsidiary of the Company, acquired 100% of the issued and outstanding shares of Medios de Pago MP S.A., domiciled in Costa Rica, generating with the latter an additional capital gain of Ps. 853,401 that was included in the consolidated financial statements of the Bank in the first quarter of 2016. The latest valuation update for the groups of cash generating units to which this goodwill was allocated was done by an external adviser and reviewed by Management in January 2019, based on the financial statements of BAC Credomatic at September 30, 2018. The conclusion was that there are no situations that imply a possible impairment, given that the recoverable amount of the groups of cash generating units associated with goodwill was Ps. 18,531,491 exceeds the book value by Ps. 5,723,300. The following table shows the averages of the main assumptions used in the reports on impairment of the cash-generating units with allocated goodwill, based on the impairment assessments done on the indicated dates. Although the valuation exercise includes a 10 years projection, the following tables only show the first 5 years as, following the first year of projection, rates are generally stable with no significant variations. December 31, 2018 2019 2020 2021 2022 2023 Lending rate on the loan portfolio and investments 11.4 % 11.4 % 11.4 % 11.3 % 11.3 % Borrowing rate 2.9 % 3.0 % 3.0 % 3.0 % 3.0 % Growth in income from commissions 2.0 % 7.7 % 8.0 % 7.8 % 7.7 % Growth in expenses 5.3 % 6.2 % 5.8 % 6.0 % 6.3 % Discount rate after taxes 11.8 % Growth rate after ten years 3.0 % December 31, 2017 2018 2019 2020 2021 2022 Lending rate on the loan portfolio and investments 11.0 % 11.0 % 11.0 % 11.0 % 11.1 % Borrowing rate 2.7 % 2.8 % 2.9 % 3.0 % 3.0 % Growth in income from commissions 6.5 % 8.3 % 8.2 % 8.2 % 8.3 % Growth in expenses 6.1 % 6.2 % 6.7 % 6.7 % 6.8 % Discount rate after taxes 11.3 % Growth rate after ten years 3.0 % A 10-year projection was made to evaluate goodwill impairment, considering the business will have matured and the flow of funds will have stabilized once this period has elapsed. In turn, macroeconomic assumptions as well as those for BAC Credomatic’s business in each of the countries where it operates were used for the projection, so as to reflect the reality that each market provides to the CGUs as a whole. The averages of the main premises used are listed in the foregoing tables, including the variables for all the countries where BAC Credomatic Inc. operates. The following is description of that process: · Lending rates on loans and investments were projected based on historical data and on the expectations of management in each of the countries where BAC Credomatic Inc. operates, considering the competitiveness of the different services in their respective markets and the growth strategies for each segment. The projection on US Federal Reserve rates was taken into account as well, since these rates serve as a basis for international banking rates. · Growth in income from commissions was projected in line with the growth in BAC Credomatic´s active portfolio, which allows for greater income through products and services like insurance, memberships. commissions on foreign currency exchange and also the implementation of new services among others. Competitive markets were also considered in the projected time horizon elapsed. · Although the functional or reporting currency of the business is that of each country in the region where BAC Credomatic Inc´s. subsidiaries operate, the future flows of funds have been converted into nominal U.S. dollars in each projected period, discounted at a nominal rate in U.S. dollars, net of income tax, estimated as "Ke". A discount rate in U.S. dollars is used, given that a consistent discount rate in the respective local currencies cannot be estimated because of the lack of necessary data. · The discount rate has been estimated in light of the risk profile of each of the markets where BAC Credomatic Inc. operates. · To estimate the terminal value, the normalized flow of funds, adjusted according to expectations for its growth, was projected in perpetuity. This projection does not exceed the average long-term rate of growth for the economies in each of the countries where BAC operates. Consequently, an annual growth rate of 3.0% was estimated for the long term. The discount rate after taxes used to discount the dividend flows reflects the specific risks relative to the CGU and the markets where BAC Credomatic operates, as mentioned earlier. Had the USD denominated estimated 11.8% discount rate been 1.0% higher; it would not have been necessary to reduce the book value of goodwill, since the value-in-use of the cash-generating units associated with goodwill would have been Ps. 16,068,408, still exceeding book value as of December 31, 2018 of Ps. 12,808,191. B. Cash-generating units inside Banco de Bogotá Goodwill was generated in 2006 with the acquisition of 94.99% of the shares of Banco de Crédito y Desarrollo Social – MEGABANCO S.A. and later merged with Banco de Bogotá. This operation was authorized by the Office of the Superintendency of Finance in Resolution No. 917 dated June 2, 2006. That goodwill was allocated to the groups of cash-generating units inside Banco de Bogotá involved in the following lines of business: Share (%) Value Commercial 32.7 % Ps. 152,539 Consumer 30.8 % 143,287 Payroll installment loans 27.0 % 125,934 Vehicles 6.7 % 31,304 Microcredit 2.8 % 12,841 Total 100.0 % Ps. 465,905 The latest valuation update for the business lines of the groups of cash-generating units to which this goodwill was allocated, was performed by an external adviser and reviewed by management. This valuation was conducted on January 2019 and is based on Banco de Bogotá´s financial statements at September 30, 2018. It was concluded that there are no situations that imply a possible impairment, given that the recoverable amount of the groups of cash generating units associated with goodwill was Ps. 9,865,076 exceeds the book value by Ps. 2,461,897. The following table shows the main assumptions used in the latest impairment tests of the groups of cash-generating units with allocated goodwill. December 31, 2018 2019 2020 2021 2022 2023 Lending rate on the loan portfolio and investments 9.4 % 10.0 % 10.1 % 10.3 % 10.5 % Borrowing rate 3.5 % 3.8 % 3.9 % 4.2 % 4.3 % Growth in income from commissions 9.9 % 7.5 % 8.0 % 7.9 % 8.3 % Growth in expenses 3.7 % 3.9 % 3.1 % 3.5 % 3.6 % Inflation 2.9 % 3.1 % 2.7 % 3.5 % 3.3 % Discount rate after taxes 14.0 % Growth rate after five years 3.1 % December 31, 2017 2018 2019 2020 2021 2022 Lending rate on the loan portfolio and investments 9.6 % 9.4 % 9.3 % 9.5 % 9.6 % Borrowing rate 3.6 % 3.3 % 3.2 % 3.6 % 3.8 % Growth in income from commissions 9.2 % 7.7 % 7.8 % 8.5 % 8.5 % Growth in expenses 2.5 % 4.0 % 4.0 % 5.1 % 4.4 % Inflation 3.3 % 3.4 % 3.2 % 3.3 % 3.6 % Discount rate after taxes 14.0 % Growth rate after five years 3.5 % A 5‑year projection was made to estimate goodwill, based on macroeconomic assumptions and those related to the businesses listed in the foregoing tables. The following is a description of that process. · The lending rates on loans and investments were projected based on the Company expected rates and lending rates from independent specialists (The Economist Intelligence Unit "EIU") · The borrowing rates were projected based on the Company expected rates and the money market interest rate from EIU. · Estimated growth in commissions is based on its historical percentage over the gross loan portfolio. · Estimated growth in expenses is based on the inflation’s growth and/or its historical percentage over revenues. · The inflation rate used in the projections is based on reports from outside sources, such as The Economist Intelligence Unit, and Corficolombiana. · The growth rate used for the terminal value was 3.1%, which is the average projected inflation provided by the independent specialists and reviewed by management. The discount rate after taxes used to discount dividend flows reflects the specific risks relative to each cash-generating unit. If the 14.0% estimated discount rate had been 1.0% higher than the rate estimated in the models, the book value of goodwill would not have to be reduced, since the fair value of the groups of cash-generating units associated with goodwill would have been Ps. 9,044,053, which is above the book value of Ps. 7,403,179 as of December 31, 2018. C. Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. After the acquisition, Porvenir absorbed AFP Horizonte Pensiones y Cesantías S.A and the goodwill in question was allocated to the groups of cash-generating units that together made up Porvenir later that same year. The latest valuation update for the business lines of the groups of cash-generating units to which this goodwill was allocated, was done by an external adviser and reviewed by management. This valuation was conducted on January 2019 and is based on financial statements of Porvenir at September 30, 2018. The conclusion was that there are no situations that imply a possible impairment, given that the recoverable amount of the groups of cash generating units associated with goodwill was Ps. 4,056,799, exceeding the book value by Ps. 867,904. The following are the main assumptions used in the impairment test reports taken as the basis for impairment testing on the dates listed, although the valuation exercise includes a 20 years projection, the following tables only show the first 5 years as reates, following the first year of projection, are generally stable with no significant variations. December 31, 2018 2019 2020 2021 2022 2023 Interest rate on investments 4.6 % 5.7 % 5.7 % 6.5 % 6.3 % Borrowing rate 6.3 % 6.3 % 6.3 % 6.3 % 6.3 % Growth in income from commissions 1.0 % 9.4 % 7.5 % 7.8 % 6.8 % Growth in expenses 4.3 % 4.6 % 5.6 % 6.6 % 0.5 % Inflation 2.9 % 3.1 % 2.7 % 3.5 % 3.3 % Discount interest rate after taxes 13.0 % Growth rate after twenty years 3.1 % December 31, 2017 2018 2019 2020 2021 2022 Interest rate on investments 5.8 % 5.9 % 5.7 % 5.8 % 6.2 % Borrowing rate 6.3 % 6.3 % 6.3 % 6.3 % 6.3 % Growth in income from commissions 14.2 % 8.0 % 7.7 % 7.6 % 7.5 % Growth in expenses 11.2 % 6.7 % 6.1 % 6.1 % 6.4 % Inflation 3.3 % 3.4 % 3.2 % 3.3 % 3.6 % Discount interest rate after taxes 13.0 % Growth rate after twenty years 3.5 % A 20‑year projection was made to estimate goodwill based on macroeconomic assumptions and those related to the business of Porvenir, as indicated in the foregoing tables. The following is a description of that process. · Investments and borrowing rates were projected using historical data and data provided by the Company on the business. · The estimated increases in commissions and expenses are based on business growth and other transactions estimated by the Company. · The inflation rate used in the projections is based on reports from outside sources, such as The Economist Intelligence Unit, and Corficolombiana. · The growth rate used for the terminal value was 3.1%, which is the average projected inflation provided by the independent specialists. The discount interest rate after taxes that was used to discount dividend flows reflects the specific risks relative to each cash-generating unit. If the estimated discount rate of 13.0% had been 1.0% higher than the estimated rate in the valuation done by external experts, there would be no need to reduce the book value of goodwill, since the fair value of the groups of cash-generating units associated with goodwill would be Ps. 3,661,147 and exceeds their book value of Ps. 3,188,895 as of December 31, 2018.

OTHER INTANGIBLE ASSETS

OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2018
OTHER INTANGIBLE ASSETS
OTHER INTANGIBLE ASSETS	NOTE 18 – OTHER INTANGIBLE ASSETS Below is the detail of the balances of other intangible assets as of December 31, 2018 and 2017: December 31, 2018 Accumulated Net book Description Cost amortization value Software and information technology applications purchased Ps. Ps. Ps. Internally generated Non-internally generated Licenses Ps. Ps. Ps. Internally generated Non-internally generated Other intangibles assets Ps. Ps. Ps. Total Ps. Ps. Ps. December 31, 2017 Accumulated Net book Description Cost amortization value Software and information technology applications purchased Ps. 845,402 Ps. (292,959) Ps. 552,443 Internally generated 681,167 (236,972) 444,195 Non-internally generated 164,235 (55,987) 108,248 Licenses Ps. 391,726 Ps. (137,998) Ps. 253,728 Internally generated 86,249 (19,130) 67,119 Non-internally generated 305,477 (118,868) 186,609 Other intangibles assets Ps. 52,125 Ps. (9,615) Ps. 42,510 Total Ps. Ps. (440,572) Ps. 848,681

INCOME TAX

INCOME TAX	12 Months Ended
	Dec. 31, 2018
Disclosure of income tax [Abstract]
Disclosure of income tax [text block]	NOTE 19 – INCOME TAX 19.1 Components of the income tax expense: The expense for income tax for the years ended on December 31, 2018, 2017 and 2016 comprises the following: December 31, December 31, December 31, 2018 2017 2016 Current period income tax Ps. 1,746,881 Ps. 1,276,458 Ps. 1,264,066 Income tax surcharge 95,630 151,980 — CREE tax — — 295,324 CREE surcharge — — 193,425 Subtotal current period taxes 1,842,511 1,428,438 1,752,815 Prior years adjustments (1) (74,230) (117,568) (13,440) Adjustment due to settlement of uncertain tax positions from prior years 24,277 (7,367) (31,067) Deferred taxes 357,032 449,291 348,601 Total Ps. 2,149,590 Ps. 1,752,794 Ps. 2,056,909 (1) In the year 2018 tax recovery includes Ps. 50,316 in Banco de Occidente. It was generated by the use of presumptive excesses of CREE for the years 2013 and 2014; it also includes Ps. 17,812 in Corficolombiana for the reimbursement of income tax mainly from Episol and PISA Concessionaire. In the year 2017, it includes a Ps. 109,632 tax recovery at Banco de Bogotá for the years 2014, 2015 and 2016. 19.2 Reconciliation of the Nominal Tax Rate and the Effective tax Rate: The following are the basic parameters in force with respect to income tax: In Colombia In December 2018, the Colombian congress issued Law 1943 called the Financing Law, which includes the following relevant changes to the income tax and related taxes applicable as of 2019: · The income tax rate will be 33% in the year 2019, 32% in the year 2020, 31% in the year 2021 and 30% from the year 2022 and onwards. · Financial institutions in Colombia are expected to pay an income tax surcharge with a rate of 4% in 2019, and 3% for the years 2020 and 2021, leaving the income rate in a total of 37% in 2019, 35% in the year 2020, 34% in the year 2021 and 30% from 2022 and onwards. · Included in the special rate of income tax of 9% companies the engaged in the provision of hospitality services of new or expanded hotels and / or remodeled at 50% of the acquisition value, for a term of 10 years. · The percentage of presumptive income is reduced to the rate of 1.5% in the years 2019 and 2020 and to the rate of 0% from 2021. · An income tax exemption is created for companies in orange economy sector, for a period of 7 years (businesses that provide value-added in artistic and creative activities and technological industries). Also, an income tax exemption for a period of 10 years is created for investment income that increases productivity in the agricultural sector, as long as it meets the requirements established by the national government. · A special rate on dividends or participations received by national companies of 7.5% is created, which will be required to be withheld by the paying entity only on the company that receives such dividends for the first time and whose credit will be transferable to the final beneficiary, that is, the natural person resident in Colombia or the investor residing abroad. · A regime of Colombian Holding Companies (“CHC”) is created in the income tax pertaining to entities that have direct or indirect participation in at least 10% of the capital of two or more Colombian and / or foreign companies or entities for a minimum period of 12 months and with at least three employees; it will be regulated by the national government. Colombian regulation for income tax and related taxes applicable during 2018 and 2017 include the following: · Taxable income is taxed at a rate of 34% in the year 2017 and 33% in 2018. And additional income tax surcharge of 6% was created in 2017 and of 4% in 2018, for those companies with taxable incomes exceeding Ps. 800. · Gains on the sale or disposal of non-current assets held for more than two years is taxed at 10%. · The taxable income for income tax may not be less than 3.5% of each of our tax-declaring companies’ net equity at the end of the preceding year. When the taxable income is less than that this percentage, the difference, known as “presumptive income”, can be offset by taxable income over the following five years. · Tax loss-carry forwards incurred prior to 2017 may be offset on the same terms applicable for 2016, but they may not be fiscally readjusted. Tax loss carry-forwards incurred since 2017 may be offset against company taxable income over the following twelve years. · As of 2017 the companies’ taxable income will be determined based in the new accounting regulation in force in Colombia since January 1, 2015. However, the new tax regulation also includes special income tax rules for several transactions. · Corporate tax returns are in firm by tax authorities three years after the filing date, however if tax loss carry forward are used to offset the taxable income, this term is six years after the filing date. Colombian regulation for income tax and related taxes applicable until 2016 include the following: · Taxable income was taxed at rate of 25% and income tax CREE is taxed at rate of 9% with an additional of 6% in 2016. · Tax loss carry forward incurred since 2007, fiscally readjusted, may be offset with future taxable income at any time, for both income tax and CREE. · The taxable income of the companies may not be lower than 3% of fiscal equity at the end of the preceding year; and if the taxable income is lower than that base, the difference may be deducted from taxable income within five years of its occurrence, as “excess of presumptive income”. · The taxable income is determined on the basis of accounting rules applicable in Colombia up to December 31, 2014, prior to the partial introduction of the IFRS framework in Colombian regulations. · Corporate tax returns are in firm by tax authorities two years after the filing date, however if tax loss carry forward are used to offset the taxable income, this term is five years after the filing date. In other countries Given that our subsidiary Leasing Bogotá Panamá has an international license it has a tax rate of 0%. The subsidiaries in Guatemala are taxed at a rate of 25%; the subsidiaries in El Salvador, Honduras, Costa Rica, Nicaragua and Mexico are taxed at a rate of 30% and the subsidiaries with a local license in Panamá are taxed at a rate of 25%. Below is the detailed reconciliation between total expenses of the income tax of Grupo Aval calculated at the applicable enacted tax rate and the tax expense recognized in the statement of income for the years ended on December 31, 2018, 2017 and 2016: Years ended on: December 31, December 31, December 31, 2018 2017 2016 Profit before income tax Ps. 7,334,141 Ps. 4,915,227 Ps. 5,573,845 Enacted tax rate in Colombia 37 % 40 % 40 % Theoretical income tax expense 2,713,632 1,966,091 2,229,538 Nondeductible expenses 373,918 387,933 339,803 Tax losses considered non recoverable for income tax purpose 100,249 96,266 140,904 Presumptive income considered non recoverable for income tax purpose 33,296 7,991 45,385 Wealth tax — 40,762 107,051 Nontaxable dividends (23,457) (19,587) (15,655) Nontaxable income under equity method in associates (39,901) (68,026) (56,306) Profit (loss) on sales or appraisal of investment (2,148) (16,584) (71,669) Nontaxable interest income and other income (212,992) (137,312) (150,714) Other nontaxable income (167,091) (155,010) (83,742) Revenues taxable at different tax rate 15,378 (658) (14,983) Difference from expenses deductibles at different tax rate (11,060) (11,822) (4,679) Tax benefits in the acquisition of property and equipment (22,715) (20,585) (66,245) Profits (losses) in Subsidiaries in tax free countries or with different tax rate (168,117) (200,661) (143,109) Effect on the deferred income tax due to changes in tax rates (1) (308,534) (38,574) (96,232) Expenses considered non recoverable for deferred income tax purposes — — 1,465 Prior year adjustments (74,230) (117,568) (13,440) Adjustments due to uncertain tax positions in previous year 24,277 (7,367) (31,067) Other (80,915) 47,505 (59,396) Total tax expense of the year Ps. 2,149,590 Ps. 1,752,794 Ps. 2,056,909 Effective income tax rate 29.31 % 35.66 % 36.90 % (1) The effect is due to the application of the new tax rates established in Law 1943 of 2018, with which the deferred tax rates decreased from 33% to 30%. The impact on Corficolombiana was Ps. 233,865, in Banco de Bogotá it was Ps. 59,054, in Banco de Occidente Ps. 8,408, in Banco Av Villas Ps. 6,934 and in Banco Popular of Ps.362. 19.3 Tax Losses and excess of Presumptive Income: As of December 31, 2018 and 2017, the following table shows the detail of the tax loss carry forward and excess of presumptive income over taxable income of the entities of Grupo Aval which are not recognized as deferred tax assets. December 31, December 31, 2018 2017 Tax loss carry forwards expiring on: December 31, 2019 Ps. — Ps. 4,732 December 31, 2020 — 1,758 December 31, 2022 66 — December 31, 2025 1,216 — December 31, 2029 173,118 3,107 December 31, 2030 271,685 160,084 Without expiration date 458,499 484,376 Subtotal 904,584 654,057 Excess of presumptive income expiring on: December 31, 2018 — 43,668 December 31, 2019 61,152 64,590 December 31, 2020 45,738 48,170 December 31, 2021 61,296 64,998 December 31, 2022 51,077 46,727 December 31, 2023 48,218 — Subtotal 267,481 268,153 Total Ps. 1,172,065 Ps. 922,210 19.4 Deferred Taxes from Investments in Subsidiaries: At 31 December 2018, there was a temporary difference of Ps. 8,231,985 (2017: Ps. 6,613,585) related to investments in subsidiaries. However, this liability was not recognized because Grupo Aval controls the dividend policy of its subsidiaries and is able to veto the payment of dividends of its subsidiaries – i.e. Grupo Aval controls the timing of reversal of the related taxable temporary differences and management is satisfied that they will not reverse in the foreseeable future. 19.5 Deferred taxes by Type of Temporary Difference: The differences between the carrying value of the assets and liabilities and their tax bases give rise to the following temporary differences which result in deferred taxes, calculated and recorded in the years ended on December 31, 2018, 2017 and 2016, based on current tax regulations as references for the years wherein such temporary differences will be reverted: Year ended on December 31, 2018 Balance as of Change in Credited Credited Balance as of December 31, accounting (charged) to (charged) to Netting December 31, 2017 policies profit or loss OCI Reclassifications 2018 Deferred tax assets Debt securities at fair value Ps. 8,081 Ps. (2,431) Ps. 18,840 Ps. 4,563 Ps. 597 Ps. 29,650 Equity securities at fair value 8 102 512 — — 622 Derivative instruments 36,805 — (102,681) 185,803 (46,773) 73,154 Allowance of investments securities 366 31 (264) — 3 136 Allowance for accounts receivable 333 — 44,660 — (3,603) 41,390 Loans and receivables 71,938 64,527 (121,072) — (476) 14,917 Allowance for impairment on loans and receivables 66,127 68,513 13,808 — 10,721 159,169 Allowance for other accounts receivable 4,649 — (4,649) — — — Foreclosed assets 18,161 — (15,474) — 240 2,927 Property, plant and equipment costs 364,540 — (77,625) — (2,804) 284,111 Depreciation of property, plant and equipment 11,993 — 8,854 — 56 20,903 Deferred charges and of intangible assets 145,625 — 23,233 — (2) 168,856 Tax losses carry forward 332,354 — 365,698 (402,042) 3,191 299,201 Surplus of presumptive income 2,528 — 2,142 — — 4,670 Provisions 197,963 (11,038) 2,163 — 794 189,882 Employee benefits 98,924 — 41,406 (9,394) 847 131,783 Deferred income — 12,349 (9,762) — — 2,587 Financial assets in concession contracts 28,536 (6,322) 136,431 — — 158,645 Biological assets 169 — (65) — — 104 Lease agreements 8,042 — 625 — (75) 8,592 Other 123,645 (102) (6,161) 165,680 (11,112) 271,950 Subtotal Ps. 1,520,787 Ps. 125,629 Ps. 320,619 Ps. (55,390) Ps. (48,396) Ps. 1,863,249 Deferred tax liabilities Debt securities at fair value (44,492) 9,555 (14,843) 26 (183) (49,937) Equity securities at fair value (121,226) (298) 7,361 2,084 (3,798) (115,877) Derivative instruments (87,525) — 23,187 — 46,773 (17,565) Accounts receivable (306,774) (17) 17,677 1,588 — (287,526) Allowance of investments securities (182) 57 (23,025) — — (23,150) Loans and receivables (322,746) 3,668 256,357 — (846) (63,567) Allowance for impairment on loans and receivables (397,838) 204,100 (77,442) — 233 (270,947) Foreclosed assets (72,209) — (20,314) — 107 (92,416) Provision for foreclosed assets (41,654) — (67,096) — (342) (109,092) Property plant and equipment costs (363,814) — 11,305 — (4,875) (357,384) Depreciation of property, plant and equipment (179,877) — 9,908 — (169) (170,138) Deferred charges and of intangible assets (107,721) — (514,157) — — (621,878) Provisions (575) — (22,312) 304 (1,697) (24,280) Goodwill (169,675) — (23,355) — — (193,030) Deferred Income (40,534) 40,534 (116,034) — — (116,034) Financial assets in concession arrangements (700,738) (228,241) 30,238 — — (898,741) Biological assets (16,583) — (6,750) — — (23,333) Lease agreements (32,636) — 28,343 — — (4,293) Other (71,408) (779) (176,699) (11,271) 16,492 (243,665) Subtotal Ps. (3,078,207) Ps. 28,579 Ps. (677,651) Ps. (7,269) Ps. 51,695 Ps. (3,682,853) Net Ps. (1,557,420) Ps. 154,208 Ps. (357,032) Ps. (62,659) Ps. 3,299 Ps. (1,819,604) Year ended on December 31, 2017 Balance as of Credited Credited Balance as of December 31, (charged) to (charged) to Netting December 31, 2016 profit or loss OCI Reclassifications 2017 Deferred tax assets Debt securities at fair value Ps. 62,627 Ps. (30,580) Ps. (23,966) Ps. — Ps. 8,081 Equity securities at fair value 1,583 (1,254) (321) — 8 Derivative instruments 78,740 (41,935) — — 36,805 Accounts receivable 16,278 (15,589) — 10 699 Loans and receivables 6,014 65,924 — — 71,938 Allowance for impairment on loans and receivables 105,573 (39,446) — — 66,127 Allowance for other accounts receivable 6,219 (1,570) — — 4,649 Financial assets in concession contracts 25,837 2,571 — 128 28,536 Foreclosed assets 4,846 13,315 — — 18,161 Property, plant and equipment costs 296,269 68,271 — — 364,540 Depreciation of property, plant and equipment 5,699 6,294 — — 11,993 Biological assets 101 68 — — 169 Deferred charges and of intangible assets 113,817 30,922 — 886 145,625 Tax losses carry forward 385,855 (53,556) — 55 332,354 Surplus of presumptive income 19,480 (16,952) — — 2,528 Provisions 212,695 (17,649) — 2,917 197,963 Employee benefits 104,606 (29,658) 23,976 — 98,924 Deferred income 113,380 (113,380) — — — Lease agreements 9,160 (1,118) — — 8,042 Other 69,022 52,233 935 1,455 123,645 Subtotal Ps. 1,637,801 Ps. (123,089) Ps. 624 Ps. 5,451 Ps. 1,520,787 Deferred tax liabilities Debt securities at fair value Ps. (27,278) Ps. 29,105 Ps. (46,319) Ps. — Ps. (44,492) Equity securities at fair value (100,484) 302 33 (21,077) (121,226) Unrealized profits of foreign subsidiaries (22,029) — — 22,029 — Derivative instruments (67,974) (15,190) (4,361) — (87,525) Accounts receivable (260,621) (46,335) — 182 (306,774) Allowance of investments securities — — — (182) (182) Loans and receivables (268,747) (53,999) — — (322,746) Allowance for impairment on loans and receivables (275,785) (122,053) — — (397,838) Foreclosed assets (46,783) (25,426) — — (72,209) Provision for foreclosed assets (37,798) (3,856) — — (41,654) Property plant and equipment costs (400,180) 36,404 — (38) (363,814) Depreciation of property, plant and equipment (209,549) 30,948 — (1,276) (179,877) Deferred charges and of intangible assets (60,598) (47,123) — — (107,721) Provisions (471) (62) 116 (158) (575) Goodwill (86,036) (83,639) — — (169,675) Deferred Income (34,613) (5,921) — — (40,534) Financial assets in concession arrangements (718,496) 20,548 — (2,790) (700,738) Biological assets (6,806) (9,777) — — (16,583) Lease agreements — — — (32,636) (32,636) Other (65,400) (30,128) (11,053) 35,173 (71,408) Subtotal Ps. (2,689,648) Ps. (326,202) Ps. (61,584) Ps. (773) Ps. (3,078,207) Net Ps. (1,051,847) Ps. (449,291) Ps. (60,960) Ps. 4,678 Ps. (1,557,420) Year ended on December 31, 2016 Balance as of Credited Credited Balance as of December 31, (charged) to (charged) to Netting December 31, 2015 profit or loss OCI Reclassifications 2016 Deferred tax assets Debt securities at fair value Ps. 290,465 Ps. (5,459) Ps. (212,090) Ps. (10,289) Ps. 62,627 Equity securities at fair value 323 (26,416) 27,676 — 1,583 Derivative instruments 518,992 (223,831) (165,894) (50,527) 78,740 Accounts receivable 7,852 8,426 — — 16,278 Loans and receivables 5,652 362 — — 6,014 Allowance for impairment on loans and receivables 96,054 9,679 — (160) 105,573 Allowance for other accounts receivable 18,119 (11,900) — — 6,219 Financial assets in concession contracts 12,096 13,741 — — 25,837 Foreclosed assets 13,326 (8,480) — — 4,846 Property, plant and equipment costs 58,505 237,739 — 25 296,269 Depreciation of property, plant and equipment 5,415 284 — — 5,699 Biological assets 369 (268) — — 101 Deferred charges and of intangible assets 77,055 37,167 — (405) 113,817 Tax losses carry forward 527,153 (140,623) — (675) 385,855 Surplus of presumptive income 166,116 (146,636) — — 19,480 Provisions 146,578 60,716 5,706 (305) 212,695 Employee benefits 101,224 (5,718) 8,677 423 104,606 Goodwill 6,947 (6,947) — — — Deferred income 35,857 77,523 — — 113,380 Lease agreements 8,414 746 — — 9,160 Other 174,966 (107,102) — 1,158 69,022 Subtotal Ps. 2,271,478 Ps. (236,997) Ps. (335,925) Ps. (60,755) Ps. 1,637,801 Deferred tax liabilities Debt securities at fair value Ps. (19,943) Ps. 44,338 Ps. (51,673) Ps. — Ps. (27,278) Equity securities at fair value (104,317) (9,072) 13,059 (154) (100,484) Derivative instruments (333,317) 240,468 (21,586) 46,461 (67,974) Accounts receivable — (260,621) — — (260,621) Loans and receivables (238,492) (30,255) — — (268,747) Allowance for impairment on loans and receivables (227,336) (48,449) — — (275,785) Foreclosed assets (83,774) 36,991 — — (46,783) Provision for foreclosed assets (15,198) (22,600) — — (37,798) Property plant and equipment costs (355,478) (44,865) — 163 (400,180) Depreciation of property, plant and equipment (227,591) 18,114 — (72) (209,549) Deferred charges and of intangible assets (60,003) (595) — — (60,598) Unrealized profits of foreign subsidiaries (38,209) 16,180 — — (22,029) Provisions (1,961) 1,490 — — (471) Goodwill (42,822) (43,214) — — (86,036) Deferred Income (26,940) (7,673) — — (34,613) Financial assets in concession arrangements (627,666) (90,830) — — (718,496) Biological assets (17,578) 3,320 — 7,452 (6,806) Other (152,824) 85,669 — 1,755 (65,400) Subtotal Ps. (2,573,449) Ps. (111,604) Ps. (60,200) Ps. 55,605 Ps. (2,689,648) Net Ps. (301,971) Ps. (348,601) Ps. (396,125) Ps. (5,150) Ps. (1,051,847) The Group offsets deferred tax assets and liabilities by entity and tax authority, considering the application of the tax provisions in Colombia and other countries in which the legal right to offset tax assets and liabilities and other requirements in IAS 12, according to the following breakdown: Gross Deferred tax Balances on Statement December 31, 2018 amounts Offset of financial position Deferred tax asset Ps. 1,863,249 Ps. (1,521,911) Ps. 341,338 Deferred tax liability (3,682,853) 1,521,911 (2,160,942) Net Ps. (1,819,604) Ps. — Ps. (1,819,604) Gross Deferred tax Balances on Statement December 31, 2017 amounts Offset of financial position Deferred tax asset Ps. 1,520,787 Ps. (1,381,364) Ps. 139,423 Deferred tax liability (3,078,207) 1,381,364 (1,696,843) Net Ps. (1,557,420) Ps. — Ps. (1,557,420) 19.6 Effect of the current and deferred taxes in each component of other comprehensive income in equity: The effects of the current and deferred taxes in each component of other comprehensive income is detailed below during the years ended on December 31, 2018, 2017 and 2016: December 31, 2018 Current Deferred tax tax Amount (expense) (expense) before taxes income income Net Hedging of net investments in foreign subsidiaries operations Ps. 1,124,732 Ps. — Ps. — Ps. 1,124,732 Hedging derivatives in foreign currency (547,310) 372,715 (227,807) (402,402) Hedging financial liabilities in foreign currency (576,881) — 176,378 (400,503) Cash Flow hedging (19,789) — 6,697 (13,092) Foreign currency translation differences for foreign operations (299,804) — (16,006) (315,810) Debt financial instruments (107,084) — 11,554 (95,530) Investment in associates and join ventures 22,400 — (393) 22,007 Equity financial instruments (134,084) — (5,891) (139,975) Actuarial gains (losses) from defined benefit pension plans 18,013 — (7,191) 10,822 Total “other comprehensive income” during the period Ps. (519,807) Ps. 372,715 Ps. (62,659) Ps. (209,751) December 31, 2017 Current Deferred tax tax Amount (expense) (expense) before taxes Income income Net Hedging of net investments in foreign subsidiaries operations Ps. (47,197) Ps. — Ps. — Ps. (47,197) Hedging derivatives in foreign currency 16,832 — (5,554) 11,278 Hedging financial liabilities in foreign currency 30,568 — (11,065) 19,503 Cash Flow hedging (2,340) — 969 (1,371) Foreign currency translation differences for foreign operations (91,497) (12,657) 956 (103,198) Debt financial instruments 284,480 — (69,743) 214,737 Investment in associates and joint ventures 1,128 — 116 1,244 Equity financial instruments 57,245 — (720) 56,525 Actuarial gains (losses) from defined benefit pension plans (100,232) — 24,081 (76,151) Total “other comprehensive income” during the period Ps. 148,987 Ps. (12,657) Ps. (60,960) Ps. 75,370 December 31, 2016 Current Deferred tax tax Amount (expense) (expense) before taxes Income income Net Hedging of net investments in foreign subsidiaries operations Ps. (475,000) Ps. — Ps. — Ps. (475,000) Hedging derivatives in foreign currency 291,506 47,419 (187,480) 151,445 Hedging financial liabilities in foreign currency 35,819 (23,854) — 11,965 Cash Flow hedging 17,967 — — 17,967 Foreign currency translation differences for foreign operations (125,161) 8,204 — (116,957) Debt financial instruments 948,212 — (263,763) 684,449 Investment in associates and joint ventures (20,061) — — (20,061) Equity financial instruments 34,509 — 40,735 75,244 Actuarial gains (losses) from defined benefit pension plans (41,228) — 14,383 (26,845) Total “other comprehensive income” during the period Ps. 666,563 Ps. 31,769 Ps. (396,125) Ps. 302,207 19.7 Uncertainties in Open Tax Positions As of December 31, 2018, and 2017, Grupo Aval recognized tax uncertainty liabilities for Ps. 121,832 and Ps. 94,692 respectively, uncertain tax positions corresponding to expenses, considered deductible, and which, according to decisions of the tax authorities, uncertainties taken should be considered as non-deductible. Grupo Aval estimates those exposures are likely to be rejected by the tax authorities. These tax positions cannot be deducted with future taxes. Uncertainties on open tax positions of Grupo Aval’s subsidiaries are as follows: December 31, 2018 December 31, 2017 Bogotá Ps. 113,345 Ps. 86,592 Occidente 6,095 7,657 Popular — 443 Corficolombiana 2,392 — Total Ps. 121,832 Ps. 94,692 The roll-forward of tax uncertainties during the years ended on December 31, 2018, 2017 and 2016 is as follows: December 31, December 31, December 31, 2018 2017 2016 Balance at the beginning of the year Ps. 94,692 Ps. 104,156 Ps. 145,968 Provisions increase during the year 11,904 18,039 31,039 Provisions used (1,088) (873) (1,867) Amounts reversed due to provisions not used (2,960) (32,010) (73,084) Financial cost 16,421 7,477 12,098 Foreign exchange adjustments 2,863 (2,097) (9,998) Balance at the end of the year Ps. 121,832 Ps. 94,692 Ps. 104,156 The balance as of December 31, 2018 and 2017 is expected to be completely used or released once the inspection rights from the tax authorities regarding tax returns expire, as follows: December 31, December 31, Year 2018 2017 2018 — 3,484 2019 3,006 3,109 2020 27,968 21,579 2021 30,478 23,902 2022 27,276 23,034 2023 31,373 18,250 2024 1,579 1,334 2025 152 — Total Ps. 121,832 Ps. 94,692

CUSTOMER DEPOSITS

CUSTOMER DEPOSITS	12 Months Ended
	Dec. 31, 2018
Disclosure of Customer Deposits [Abstract]
Disclosure of deposits from customers [text block]	NOTE 20 – CUSTOMER DEPOSITS The following is a detail of the balances of the deposits received from Grupo Aval´s customer: Detail December 31, 2018 December 31, 2017 Demand Checking accounts Ps. 39,702,878 Ps. 36,017,602 Savings accounts 57,221,439 55,778,677 Other funds on demand 582,122 472,782 97,506,439 92,269,061 Term deposits (1) Fixed term deposit certificates (1) 66,853,012 62,616,163 Total Deposits 164,359,451 154,885,224 Per currency In Colombian Pesos 99,388,366 96,797,225 In foreign currency 64,965,716 58,083,025 Other 5,369 4,974 Total per currency Ps. 164,359,451 Ps. 154,885,224 (1) The amount of term deposits due over 12 months as December 31, 2018 is Ps. 20,686,104 and December 31, 2017 is Ps.17,869,572. A summary of the effective interest rates which are accrued on customer deposits is as follows: December 31, 2018 Deposits in Colombian Pesos In foreign currency Rate Rate Minimum Maximum Minimum Maximum % % % % Interest-bearing checking accounts 0.04 % 4.76 % 0.25 % 5.50 % Saving accounts 0.01 % 6.00 % 0.05 % 8.00 % Fixed term deposit certificates 0.05 % 9.05 % 0.05 % 11.45 % December 31, 2017 Deposits in Colombian Pesos In foreign currency Rate Rate Minimum Maximum Minimum Maximum % % % % Interest-bearing checking accounts 0.06 % 5.77 % 0.15 % 1.50 % Saving accounts 0.01 % 8.55 % 0.05 % 8.00 % Fixed term deposit certificates 0.05 % 9.72 % 0.01 % 10.43 % The following is the detail of the concentration of deposits received from customers per economic sector: December 31, 2018 December 31, 2017 Amount % Amount % Commerce Ps. 27,454,858 17 % Ps. 29,587,825 19 % Financial 25,001,924 15 % 25,302,624 16 % Individuals 26,626,082 16 % 23,362,871 15 % Government and Colombian Government Entities 20,817,529 13 % 17,443,318 11 % Manufacturing 8,634,657 5 % 9,016,500 6 % Real Estate 6,235,260 4 % 6,197,620 4 % Agriculture and livestock 2,200,313 1 % 2,401,684 2 % Colombian Municipalities 1,807,946 1 % 2,290,683 1 % Foreign Governments 652,670 1 % 799,687 1 % Other (1) 44,928,212 27 % 38,482,412 25 % Total Ps. 164,359,451 100 % Ps. 154,885,224 100 % (1) December 31, 2018, includes deposits from, education sector of Ps. 525,978, services sector of Ps. 6,328,182, tourism sector Ps. 9,084 and others in the sector Ps. 38,064,968.

FINANCIAL OBLIGATIONS

FINANCIAL OBLIGATIONS	12 Months Ended
	Dec. 31, 2018
Disclosure of Deposits From Financial Obligations [Abstract]
Disclosure of financial liabilities [text block]	NOTE 21 – FINANCIAL OBLIGATIONS 21.1 Financial obligations other than issued bonds a) Interbank borrowings, overnight funds and borrowings from banks and others The following is a summary of the financial obligations of Grupo Aval as of December 31, 2018 and 2017: December December 31, 2018 31, 2017 Local Currency Interbank funds Overnight funds Ps. 4,152 Ps. 1,464 Interbank funds purchased 173,274 336,431 Commitments to transfer open and closed repo operations 1,884,750 715,364 Commitments to transfer simultaneous operations 2,306,037 2,272,496 Commitments originated in short positions simultaneous operations 362,833 176,048 Total interbank funds Ps. 4,731,046 Ps. 3,501,803 Borrowings 1,964,408 2,831,100 Letters of credit 300 485 Bankers´ acceptances 217 17 Total borrowings from banks and others Ps. 1,964,925 Ps. 2,831,602 Foreign currency Interbank funds Overnight funds — 217 Interbank funds purchased 1,568,172 1,135,110 Commitments to transfer open and closed repo operations 514,860 333,300 Total interbank funds Ps. 2,083,032 Ps. 1,468,627 Borrowings 17,190,315 14,529,524 Andean Development Corporation 384,758 — Letters of credit 356,640 195,988 Bankers´ acceptances 664,429 648,206 Discoveries in bank current account 49,699 — Total borrowings from banks and others Ps. 18,645,841 Ps. 15,373,718 Total interbank borrowings, overnight funds and borrowings from banks and others Ps. 27,424,844 Ps. 23,175,750 The amount of interbank borrowings, overnight funds and borrowings from banks and others due over 12 months as of December 31, 2018 is Ps.7,219,765 and December 31, 2017 is Ps.8,850,661. As of December 31, 2018, short-term obligations associated with simultaneous and repo operations amounted to Ps.2,306,037 and guaranteed with investments of Ps.4,663,828 of December 31, 2017 Ps.2,272,496 short term obligations were guaranteed with investments for an amount of Ps. 3,400,677. b) Borrowings from development entities The Colombian Government has established certain credit programs for promoting the development of specific sectors of the economy, including foreign trade, agriculture, tourism, housing construction and other industries. The programs are managed by many entities of the Government such as Banco de Comercio Exterior (“BANCOLDEX”), Fondo para el Financiamiento del Sector Agropecuario (“FINAGRO”) and Financiera de Desarrollo Territorial (“FINDETER”). The details of the borrowings from these entities as of December 31, 2018, and 2017 and are as follows: Interest rates in force at cut off December 31, 2018 December 31, 2017 Banco de Comercio Exterior - “BANCOLDEX” Fixed between 1.8% and 21.15% DTF + 0.08% to 9.91% IBR + 0.50% to 9.76% LIBOR3 + 1.8% to 9.91% LIBOR6 + 2.87% to 6.09% Ps. 1,303,648 Ps. 835,667 Fondo para el Financiamiento del Sector Agropecuario - “FINAGRO” Fixed between 0.50% and 15.48% DTF + 0.50% to 6.42% 278,025 342,728 Financiera de Desarrollo Territorial “FINDETER” Fixed between 2.40% and 13.38% DTF + 1.00% to 7.57% IBR+ 2.50% to 7.57% IPC + 0.50% and 7.57% LIBOR3 5.20% to 5.30% and LIBOR6 + 5.29% 2,065,123 1,819,695 Total Ps. 3,646,796 Ps. 2,998,090 The amount of borrowings from development entities due over 12 months as of December 31, 2018 is Ps. 3,203,170 and December 31, 2017 is Ps.2,790,581. 21.2. Financial obligations from issued bonds The different entities from Grupo Aval are authorized by the Superintendency of Finance and by the regulatory entities abroad where Grupo Aval operates, for issuing or placing either bonds or general guarantee bonds. The bonds issued by Grupo Aval and subsidiaries are non-guaranteed. a) The detail of liabilities as of December 31, 2018 and 2017, by issue date and maturity date was as follows: Peso denominated December December Issuer Issue Date 31, 2018 31, 2017 Maturity Date Interest Rate Banco de Bogotá S.A. 23/02/2010 Ps. 134,736 Ps. 132,989 23/02/2020 CPI + 5.45 and UVR + 5.45 Banco de Occidente Between 30/03/2009 and 14/12/2017 3,143,903 3,271,929 Between 09/02/2019 and 14/12/2032 Fixed between 6.18% to 7.85% and IPC + 2.90 to 5.75 Corporación Financiera Colombiana S.A. Between 27/08/2009 and 02/03/2018 2,853,685 2,361,702 Between 11/03/2019 and 02/03/2043 Fixed 7.1% and CPI + 3.18 to 6.90 Banco Popular Between 26/02/2013 and 08/05/2018 1,616,729 1,571,308 Between 14/02/2019 and 12/10//2026 Fixed between 6.17% to 8.10%, CPI + 2.72 to 4.13; DTF + 1.49 Grupo Aval Acciones y Valores Between 03/12/2009 and 28/06/2017 1,108,713 1,109,240 Between 03/12/2019 and 28/06/2042 CPI + 2.69 to 5.20 Peso denominated Total Ps. 8,857,766 Ps. 8,447,168 Foreign Currency Banco de Bogotá S.A. Under rule 44A. Between 19/02/2013 and 03/08 /2017 7,042,678 6,459,452 Between 19/02/2023 and 03/08/2027 Fixed between 4.38% to 6.25% BAC Credomatic El Salvador Between 11/02/2013 and 26/11/2018 753,556 635,536 Between 30/05/2019 and 26/11/2023 Between 5.20% to 5.85% Guatemala Between 24/08/2017 and 24/08/2018 14,025 400,244 Between 07/01/2019 and 26/08/2019 Between 4.25% to 7.50% Honduras Between 12/05/2017 and 19/12/2018 205,017 159,674 Between 12/05/2020 and 11/01/2022 Between 0.75% to 8.88% BAC Credomatic Total Ps. 972,598 Ps. 1,195,454 Banco Bogotá and BAC Credomatic Total Ps. 8,015,276 Ps. 7,654,906 Grupo Aval Limited 19/09/2012 3,267,308 3,000,122 26/09/2022 4.75% Foreign Currency Total Ps. 11,282,584 Ps. 10,655,028 Total of Bonds Ps. 20,140,350 Ps. 19,102,196 The amount of issue bonds due over 12 months as of December 31, 2018 is Ps. 18,772,405 and December 31, 2017 is Ps.18,118,282. Grupo Aval has not had any defaults of principal or interest or other breaches with respect to its liabilities during the years ended 31 December 2018 and 2017, and Grupo Aval is complying with the related covenants agreed with investors and debtors.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	12 Months Ended
	Dec. 31, 2018
Disclosure of defined benefit plans [abstract]
Disclosure of defined benefit plans [text block]	NOTE 22 – EMPLOYEE BENEFITS In accordance with Colombian and other countries labor legislation where Grupo Aval has subsidiaries, and pursuant to labor conventions and labor collective agreements entered into with employees, employees of Grupo Aval have short term benefits such as: salaries, holidays, legal and extralegal premiums, severances and interests on severances, long-term benefits such as seniority bonds premiums and medical aids, post-employment benefits and retirement benefits such as: severance payments to employees that continue with labor regime before Law 50 of 1990 and legal and extralegal retirement pensions. Compensation for key personnel of the management includes salaries and benefits different than cash. (See note 34). Through personnel benefits plans, Grupo Aval is exposed to several risks (interest rates and operating), which are intended to be minimized by applying the risk management policies and procedures defined in Note 4 above. The detail of the balance of liabilities for employee benefits at December 31, 2018, and 2017 is as follows: December 31, 2018 December 31, 2017 Short term (1) Ps. 481,320 Ps. Post-employment 541,226 Long term 242,335 Total Ps. 1,264,881 Ps. 1,238,172 (1) 22.1 Post-employment benefits · In Colombia, when employees retire after completing certain years and time of service, retirement pensions are assumed by public or private pension funds based on defined contribution plans, to which entities and employees contribute monthly defined amounts by law for being entitled to the pension at the time of retirement. However, for some employees hired by Grupo Aval entities prior to 1968 that have fulfilled the requirements of age and years of service the pensions are directly assumed by some of the entities of Grupo Aval. · Certain employees hired by entities of Grupo Aval before 1990 are entitled to receive a compensation corresponding to the last month of salary multiplied by each year of service. · Some subsidiaries have labor conventions or pay extra-legal premiums to employees retiring in compliance with the required age and time of service, when they start enjoying the pension granted by the pension funds. 22.2 Long Term Employee Benefits Some Grupo Aval subsidiaries grant their employees extra-legal long term premiums during their working lives depending on number of years of service, five, ten, fifteen, or twenty years etc., calculated as days of salary per year of work. Some pensioners for Grupo Aval and its entities receive benefits that include coverage of medical treatments, hospitalization and surgery. Grupo Aval has recognized the liabilities corresponding to these benefits, based on the same actuarial calculations carried out under the same parameters of retirement benefits. Post-employment and long-term benefits movements during the years ended at December 31, 2018, 2017 and 2016 are as follows: Post-Employment Benefits Long-Term Benefits December December December December December December 31, 2018 31, 2017 31, 2016 31, 2018 31, 2017 31, 2016 Balance at the beginning of the year Ps. 604,110 Ps. 509,022 Ps. 436,696 Ps. 229,770 Ps. 191,112 Ps. 206,971 Service costs 13,127 4,425 3,006 21,040 18,201 19,243 Interests cost 36,700 50,826 69,348 13,460 12,889 (20,274) Gain on settlements (18,300) 253 — — (112) — Past Service Costs (191) 200 — 1,632 (3,961) — 635,446 564,726 509,050 265,902 218,129 205,940 Changes in actuarial assumptions from changes in demographic assumptions. 6,136 (8,863) (1,232) 388 (1,432) (6,456) Changes in actuarial assumptions from changes in financial assumptions. (24,149) 109,095 42,460 11,831 43,870 18,845 (18,013) 100,232 41,228 12,219 42,438 12,389 Exchange differences 3,502 (982) 6,081 — — — Payments to employees (79,709) (59,866) (47,337) (35,786) (30,797) (27,217) Balance at the end of the year Ps. 541,226 Ps. 604,110 Ps. 509,022 Ps. 242,335 Ps. 229,770 Ps. 191,112 The assumptions used to calculate the obligation projected for different post-employment benefits employees are as follows: December 31, December 31, Post-Employment Benefits 2018 2017 Discount interest rate 7.29 % 6.59 % Inflation rate 3.00 % 3.50 % Salary growth rate 3.00 % 3.50 % Pension growth rate 3.00 % 3.50 % Employee turnover rate (between service year 1 and 40 for men and women the following is the turnover rate) Tabla de Rotación Tabla de Rotación SoA 2003 (1) SoA 2003 (1) December 31, December 31, Long-Term Benefits 2018 2017 Discount interest rate 6.75 % 6.33 % Inflation rate 3.00 % 3.50 % Salary growth rate 3.00 % 3.50 % Pension growth rate N/A N/A Employee turnover rate (between service year 1 and 40 for men and women the following is the turnover rate) Tabla de Rotación Tabla de Rotación SoA 2003 (1) SoA 2003 (1) (1) For those entities where a sufficiently large statistic is not yet available to support the actuarial bases, the SoA2003 table is used as a reference. With this table, the probability of permanence of personnel in the entity is established, modified according to the population factor of each benefit. Employee´s life expectancy is calculated based on the mortality tables published by the Superintendency of Finance, which are based on mortality experiences provided to the Superintendency of Finance by several insurance companies operating in Colombia. The sensitivity analysis for post-employment and long-term benefits liabilities due to defined benefits plans to different actuarial and financial variables is shown below, maintaining other variables at constant values (increase or decrease 0.5%): -0.50 basic points At December 31, 2018 Post-Employment Benefits Long-Term Benefits Discount interest rate Ps. 559,740 Ps. 247,726 Salaries growth rate 125,140 234,266 Retirement growth rate 392,518 N/A +0.50 basic points At December 31, 2018 Post-Employment Benefits Long-Term Benefits Discount interest rate Ps. 521,812 Ps. 235,544 Salaries growth rate 136,794 249,020 Retirement growth rate 427,272 N/A Future benefit payments projected, reflecting services, as the case may be, are expected to be paid as follows: Payments for Post- Payments for Long- Year Employment term Benefits Ps. 65,720 Ps. 39,104 56,847 37,042 57,615 32,194 56,990 33,102 54,812 31,944 Years 2024 – 2028 255,125 159,380 As of December 31, 2018, the participants of the Post-Employment benefits are 47,386 employees and the Long-Term participants are 32,125 employees.

LEGAL AND OTHER PROVISIONS

LEGAL AND OTHER PROVISIONS	12 Months Ended
	Dec. 31, 2018
LEGAL AND OTHER PROVISIONS
LEGAL AND OTHER PROVISIONS	NOTE 23 – LEGAL AND OTHER PROVISIONS Roll-forward of legal provisions during the years ended on December 31, 2018, 2017 and 2016 are as follows: For Legal Other Provisions Total Provisions Balance as of December 31, 2015 Ps. 148,314 Ps. 451,913 Ps. Provisions increase during the year 32,405 363,211 395,616 Use of provisions (13,143) (319,592) (332,735) Amounts reversed due to provisions not utilized (12,938) (30,249) (43,187) Reclassifications 1,111 (676) 435 Balance as of December 31, 2016 Ps. 155,749 Ps. 464,607 Ps. 620,356 Provisions increase during the year 32,670 222,349 255,019 Use of provisions (15,012) (117,643) (132,655) Amounts reversed due to provisions not utilized (7,870) (42,459) (50,329) Exchange differences (184) 408 224 Balance as of December 31, 2017 Ps. 165,353 Ps. 527,262 Ps. 692,615 Impact of the adoption of IFRS 9 (1) — 16,217 16,217 Balance as of January 01, 2018 Ps. 165,353 Ps. 543,479 Ps. 708,832 Provisions increase during the year 98,473 190,686 289,159 Use of provisions (73,086) (149,026) (222,112) Amounts reversed due to provisions not utilized (64,562) (19,852) (84,414) Exchange differences (249) 4,072 3,823 Balance as of December 31, 2018 Ps. 125,929 Ps. 569,359 Ps. 695,288 (1) Grupo Aval has initially adopted IFRS 15 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5. Legal provisions: Administrative proceedings At December 31, 2018 and 2017 provisions were recorded for administrative proceedings for Ps. 12,296 and Ps. 68,526 respectively, by way of claims for administrative or judicial processes of a tax nature, initiated by national and local authorities that establish in some cases sanctions in which the subsidiaries of Grupo Aval would incur. Labor proceedings At December 31, 2018 and 2017 provisions were recorded for labor proceedings for Ps. 41,618 and Ps. 46,785 respectively. Labor proceedings include labor pursuits, indemnities for ex-employees against of several subsidiaries of Grupo Aval and pensions claims (survivor pensions, invalidity pensions, seniority pensions, return of balances, etc.) in Porvenir, the time expected for resolution is uncertain due to the fact that each proceeding is based on different instances, however, most cases are normally resolved in favor of Grupo Aval. Other proceedings At December 31, 2018 and 2017 other legal provisions were recorded for Ps. 72,015 and Ps. 50,042, respectively. The most representative is the litigation against Compañía Hotelera Cartagena de Indias for Ps. 24,815 for both periods, that claims to declare the violation of collective rights and interests of administrative morality, the enjoyment of public space, the enjoyment of a healthy environment and the existence of ecological balance and management and rational use of natural resources property of the State, and that, as a consequence of this violation, will be ordered restitute to the state of 37,018 square meters, result of the illegal occupation of the sea and of the illegal contribution of five lots delivered by the Municipality of Cartagena. In addition, a provision was made in Porvenir to cover claims for estimating payments to the Unidad de Gestión Pensional y Parafiscal for outstanding contributions of the AFP Horizonte to its employees in 2012 and 2013 for Ps. 20,937 and Ps. 20,449, respectively. Likewise, in Promigas S.A., a provision is constituted due to an arbitration demand for noncompliance in favor of Gecelca for Ps. 9,870. Other provisions: At December 31, 2018 and 2017 other provisions recorded amounting Ps. 569,359 and Ps. 527,262, respectively, are mainly comprised by a provision of Corficolombiana affiliates for Ps. 242,446 and Ps. 229,447, respectively, associated with the maintenance, restoration and rehabilitation of constructions and buildings, dismantling of assets, professional fees relating to development of concession contracts. Additionally, this caption includes a provision of Porvenir subsidiary for individual savings accounts shortfalls of people, which their retirement pensions are covered by the mandatory fund denominated “Fondo de Pensiones Obligatorias Especial Porvenir del Retiro Programado” managed by Porvenir, pursuant to legal provisions in force requiring they should be assumed by the pensions fund manager. This provision is calculated in accordance with projections performed based on actuarial assumptions that show some people with limited resources in the Fund will not cover their future pension payments. The provisions for this matter at December 31, 2018 and 2017 amounted Ps. 206,786 and Ps. 175,000, respectively. Other provisions also include provisions of several subsidiaries of Grupo Aval for Ps. 46,868 and Ps. 50,541 for the periods ended on December 31, 2018 and 2017, respectively, corresponding to the dismantling of ATMs and offices; and for Ps. 59,428 and Ps. 26,675 respectively, for provisions of losses on loan commitments (see note 4.1.5 Loan commitments and financial guarantee contracts).

OTHER LIABILITIES

OTHER LIABILITIES	12 Months Ended
	Dec. 31, 2018
OTHER LIABILITIES
Disclosure accounts payable and other liabilities	NOTE 24 – OTHER LIABILITIES Accounts payable and other liabilities of December 31, 2018 and 2017 comprise the following: Items December 31, 2018 December 31, 2017 Suppliers and services payable Ps. Ps. Collection on behalf of third parties (3) Cashier checks Contract liability related to concessions (1) (4) — Dividends payable Non-financial liabilities Income received for third parties Commissions and fees Withholdings taxes and labor contributions Affiliate establishments Collection service Cash Surplus Customer loyalty programs (1) (2) Tax levies Checks drawn and not paid Insurance payables Financial transactions tax Anticipated income Contributions and affiliations Canceled accounts Promissory buyers Leases Compensation to customers Deferred credits Other liabilities Total Ps. Ps. (1) Grupo Aval has initially adopted IFRS 15 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5) (A). (2) T he amount of unredeemed customer loyalty points. This will be recognized as revenue when the points are redeemed by customers or expires, which is expected to occur over the next two years. (3) Collection withholdings of tax pending to transfer to tax authority. (4) Contract liability related principal to the purchase of land for the construction of concessions.

EQUITY ATTRIBUTABLE TO OWNERS O

EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT	12 Months Ended
	Dec. 31, 2018
Disclosure of controlling interest equity [Abstract]
Disclosure of share capital, reserves and other equity interest [text block]	NOTE 25 – EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT Authorized, issued and outstanding shares as of December 31, 2018 and 2017 consisted of the following: December 31, 2018 December 31, 2017 Authorized shares 120,000,000,000 120,000,000,000 Subscribed fully paid shares 22,281,017,159 22,281,017,159 Total outstanding shares 22,281,017,159 22,281,017,159 The outstanding shares are as follows: Common voting shares (1) 15,164,816,696 15,173,180,765 Preferred non-voting shares (2) 7,116,200,463 7,107,836,394 (1) Common Voting shares with a nominal value of Ps. 1. (2) Since 2011, Grupo Aval allows its shareholders to convert their common shares into preferred shares. For the years ended December 31, 2018 and 2017, de 8,364,069 and 81,696,058 common shares were converted into preferred shares, respectively. Preferred shares have the right to receive a preferential minimum dividend of one Colombian peso (Ps. 1) per semester per share. This preferential minimum dividend is only applicable when dividends declared for common shares are less than one Colombian peso (Ps. 1). Preferential minimum dividends are not cumulative. Appropriated retained earnings As of December 31, 2018, and 2017 the appropriation of retained earnings is as follows: December 31, 2018 December 31, 2017 Retained earnings Ps. 2,321,729 Ps. 1,829,515 Legal reserve 11,140 11,140 Statutory and voluntary reserves 6,265,450 5,333,763 Ps. 8,598,319 Ps. 7,174,418 Legal Reserve Grupo Aval and its subsidiaries in Colombia shall create a legal reserve through the appropriation of ten percent (10%) of the net profits of each year up to an amount equal to fifty percent (50%) of the subscribed capital stock. This reserve may be reduced below fifty percent (50%) of the subscribed capital stock to stem losses in excess of retained earnings. The legal reserve cannot be less than the percentage aforementioned except to cover losses in excess of retained earnings. Statutory and Voluntary Reserves The Statutory and voluntary reserves are determined during the Shareholders Meetings. Declared Dividends The dividends are decreed and paid to shareholders based on separate net income under Colombian IFRS for the immediately preceding semester: On October 25, 2016, The General Meeting of Shareholders of Grupo Aval approved the amendment of the Company’s by-laws in order to present the financial statements of the Company for Colombian purposes on an annual basis for the period between the 1st of January and the 31st of December of each year. Prior to such amendment, the Company’s bylaws specified the semi-annual presentation of local financial statements for the periods from January 1st to June 30th and July 1st to December 31st of each year. December 31, 2017 December 31, 2016 June 30, 2016 Net income for the periods ended in 2,001,178 1,053,594 1,258,835 Cash dividends declared Ps In the general assembly held in March 2018, 48.00 pesos per share payable in twelve installments of 4.00 pesos per share, from April 2018 to March 2019. Ps In the general assembly held in March 2017, 58.80 pesos per share payable in twelve installments of 4.90 pesos per share, from April 2017 to March 2018. Ps 29.40 per share payable in six (6) installments of P.s. 4.90 per share between October 2016 and March 2017 (based on profits from the first half of 2016) Common shares outstanding 15,170,666,914 15,240,124,702 Preferred shares outstanding 7,110,350,245 7,040,892,457 Total outstanding shares 22,281,017,159 22,281,017,159 Total dividends declared 1,069,489 1,310,124 655,062 Net income per share · Basic net income per share Grupo Aval calculates basic net income per share by dividing net income for the year attributable to controlling interest of Grupo Aval parent company by the weighted average number of shares outstanding during the year (including common and preferred shares). The following table summarizes the net income per share for the year ended as of December 31, 2018, 2017 and 2016: December 31, December 31, December 31, 2018 2017 2016 Net income for the year Ps. 5,184,551 Ps. 3,162,433 Ps. 3,516,936 Less: participation of non- controlling interests (2,271,857) (1,200,019) (1,377,070) Net income attributable to owners of the parent 2,912,694 1,962,414 2,139,866 Less: preferred dividends declared — — — Less: Allocation of undistributed earnings to preferred stockholders (1)(2) (929,656) (622,215) (674,042) Net Income allocated to common shareholders for basic and diluted EPS Ps. 1,983,038 Ps. 1,340,199 Ps. 1,465,824 Weighted average number of common shares outstanding used in basic EPS calculation (2) 15,169,502,784 15,216,468,601 15,262,660,115 Basic and Diluted earnings per share to common shareholders (pesos) 130.725 88.076 96.040 Basic and Diluted earnings per ADS in pesos (3) 2,614.51 1,761.51 1,920.80 Weighted average of the common and preferred shares used in the calculation of net income for basic shares (common and preferential) 22,281,017,159 22,281,017,159 22,281,017,159 Basic net income of the owners of the parent per share 130.725 88.076 96.040 (1) Based on a weighted average of preferred shares. (2) Averages based on an end of month number of preferred or common shares. (3) Each ADS represents 20 preferred shares. · Diluted net income per share At December 31, 2018, 2017 and 2016, Grupo Aval did not have any dilutive instruments. Consolidated Comprehensive Income: Components of Accumulated Other Comprehensive Income for the years ended December 31, 2018, 2017 and 2016 are as follows: Foreign currency Foreign currency Unrealized Unrealized translation translation gains gains Total differences from Hedging Hedging non- differences from (losses) (losses) Investments in Actuarial comprehensive hedged foreign derivative derivative Cash flow unhedged foreign Debt Equity associates and gains Income income, net of operations instruments instruments hedges operations securities securities join ventures (losses) tax taxes Beginning balance 2015 Ps. 3,733,469 Ps. (2,554,257) Ps. (1,239,064) Ps. (10,181) Ps. 50,250 Ps. (1,220,428) Ps. 455,375 Ps. 111,570 Ps. 9,003 Ps. 1,641,196 Ps. 976,933 Current-period change (475,000) 291,506 35,819 17,967 (125,161) 948,212 34,509 (20,061) (41,228) (364,356) 302,207 Ending balance 2016 Ps. 3,258,469 Ps. (2,262,751) Ps. (1,203,245) Ps. 7,786 Ps. (74,911) Ps. (272,216) Ps. 489,884 Ps. 91,509 Ps. (32,225) Ps. 1,276,840 Ps. 1,279,140 Current-period change (47,197) 16,832 30,568 (2,340) (91,497) 284,480 57,245 1,128 (100,232) (73,617) 75,370 Ending balance 2017 Ps. 3,211,272 Ps. (2,245,919) Ps. (1,172,677) Ps. 5,446 Ps. (166,408) Ps. 12,264 Ps. 547,129 Ps. 92,637 Ps. (132,457) Ps. 1,203,223 Ps. 1,354,510 Change in politics — — — — — 56,198 71,229 (3,691) — (19,723) 104,013 Current-period change 1,124,732 (547,310) (576,881) (19,789) (299,804) (107,084) (134,084) 22,400 18,013 310,056 (209,751) Ending balance 2018 Ps. 4,336,004 Ps. (2,793,229) Ps. (1,749,558) Ps. (14,343) Ps. (466,212) Ps. (38,622) Ps. 484,274 Ps. 111,346 Ps. (114,444) Ps. 1,493,556 Ps. 1,248,772 Total comprehensive income, Non -controlling interest Owners of the parent net of taxes Beginning balance 2015 Ps. 438,804 Ps. 538,129 Ps. 976,933 Current-period change 90,719 211,488 302,207 Ending balance 2016 Ps. 529,523 Ps. 749,617 Ps. 1,279,140 Current-period change 38,121 37,249 75,370 Ending balance 2017 Ps. 567,644 Ps. 786,866 Ps. 1,354,510 Change in politics 58,180 45,833 104,013 Current-period change (73,825) (135,926) (209,751) Ending balance 2018 Ps. 551,999 Ps. 696,773 Ps. 1,248,772

NON- CONTROLLING INTEREST

NON- CONTROLLING INTEREST	12 Months Ended
	Dec. 31, 2018
Disclosure of non-controlling interest [Abstract]
Disclosure of interests in subsidiaries [text block]	NOTE 26 - NON- CONTROLLING INTEREST The following table includes financial information regarding each subsidiary of Grupo Aval that has significant non-controlling interests at December 31, 2018 and 2017: December 31, 2018 Non-controlling Non-controlling Dividends paid to non- Non-controlling Interest share of interest share of controlling interest in Entity Country Interest equity net income the year Corporación Financiera Colombiana S.A. (1) Colombia 61.75 % Ps. 5,071,562 Ps. 1,222,634 Ps. (308,254) Banco Bogotá S.A. Colombia 31.26 % 5,851,536 858,253 (332,297) Banco de Occidente S.A. Colombia 27.73 % 305,790 110,321 (75,838) Banco Comercial AV Villas S.A. Colombia 20.13 % 324,151 43,896 (15,425) Banco Popular S.A. Colombia 6.26 % 211,600 36,753 (14,118) Total Ps. 11,764,639 Ps. 2,271,857 Ps. (745,932) (1) See note 1 Corporación Financiera Colombiana S.A. (dilution effect). Equity attributable to Equity non controlling Effect of dilution over Corficolombiana owners of the parent interest Change % Decrease - 6.54% Increase – 6.54% Effect equity Additional paid - in capital 181,579 (181,579) Value issuance of shares (see note 1) Ps. 988,072 December 31, 2017 Non-controlling Non-controlling Dividends paid to non- Non-controlling Interest share of interest share of controlling interest in Entity Country Interest equity net income the year Corporación Financiera Colombiana S.A. Colombia 55.21 % Ps. 3,448,932 Ps. 462,137 Ps. (340,402) Banco Bogotá S.A. Colombia 31.26 % 5,395,664 619,515 (322,985) Banco de Occidente S.A. Colombia 27.73 % 256,858 65,941 (84,339) Banco Comercial AV Villas S.A. Colombia 20.13 % 298,651 27,263 (14,353) Banco Popular S.A. Colombia 6.26 % 184,126 25,163 (6,690) Total Ps. 9,584,231 Ps. 1,200,019 Ps. (768,769) The following table includes information regarding each subsidiary of Grupo Aval that has significant non- controlling interests to December 31, 2018 and 2017 (before eliminations): December 31, 2018 Cash Flow from Entity Assets Liabilities Total Income Net Income OCI operating activities Corporación Financiera Colombiana S.A. Ps. 26,240,636 Ps. 18,121,948 Ps. 9,159,971 Ps. 2,068,518 Ps. 505,807 Ps. 4,597,371 Banco Bogotá S.A. 163,302,510 143,634,735 17,725,706 3,131,213 853,134 2,868,435 Banco de Occidente S.A. 38,921,610 34,415,453 4,040,260 416,294 29,097 339,411 Banco Comercial AV Villas S.A. 14,207,481 12,587,301 1,724,332 216,468 38,065 858,440 Banco Popular S.A. Ps. 24,648,668 Ps. 21,757,734 Ps. 2,666,731 Ps. 354,961 Ps. (7,631) Ps. 1,106,042 December 31, 2017 Cash Flow from Entity Assets Liabilities Total Income (1) Net Income (1) OCI operating activities Corporación Financiera Colombiana S.A. Ps. 21,114,998 Ps. 15,872,265 Ps. 6,891,345 Ps. 563,553 Ps. 615,754 Ps. 3,428,076 Banco Bogotá S.A. 149,389,135 131,197,065 16,635,250 2,132,951 880,565 1,571,203 Banco de Occidente S.A. 37,746,874 33,342,596 4,338,753 377,687 187,037 797,598 Banco Comercial AV Villas S.A. 12,318,124 10,853,638 1,645,948 137,695 788 (1,295,251) Banco Popular S.A. Ps. 22,322,103 Ps. 19,651,056 Ps. 2,564,532 Ps. 205,694 Ps. 153,208 Ps. 756,955

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2018
Disclosure of Commitments and Contingencies [Abstract]
Disclosure of commitments and contingent liabilities [text block]	NOTE 27 – COMMITMENTS AND CONTINGENCIES Capital Expenses Commitments As of December 31, 2018, and 2017, Grupo Aval had contractual disbursement commitments of capital expenditures for Ps. 127,367 and Ps. 110,681, respectively. Operating Lease Commitments In the normal conduct of its operations, Grupo Aval executes contracts in order to receive property, plant and equipment in the form of operating leases, as well as certain intangibles; the following is the detail of rent payment commitments of operating leases in the forthcoming years: December 31, December 31, 2018 (*) 2017 Up to one year Ps. 234,510 Ps. 246,373 Greater than one year and up to five years 778,015 526,557 More than five years 624,025 233,239 Total Ps. 1,636,550 Ps. 1,006,169 (*) During the year 2018 Banco de Bogotá leased 14 properties; Banco Popular and Alpopular leased 1 property each. Contingencies As of December 31, 2018, and 2017, Grupo Aval was party to administrative and legal proceedings as defendant; the claims of the proceedings were assessed based on analyses and opinions of responsible lawyers. The following legal contingencies were determined: Labor Proceedings As of December 31, 2018, and 2017, labor complaints had been recognized for Ps. 80,113 and Ps. 105,748 respectively. Historically, the majority of these proceedings have been resolved in favor of Grupo Aval and subsidiaries. Civil Proceedings As of December 31, 2018, and 2017, the result of the assessment of the claims of legal proceedings for civil suits, not including those with remote probability, reached an amount of Ps. 391,310 and Ps. 453,592 respectively. Administrative, Tax Proceedings and Other Proceedings Claims derived from administrative and judicial processes include those of fiscal responsibility over the concession contracts, tax proceedings and others. Filed by national and local tax authorities. These authorities may establish, in some cases, sanctions in which Grupo Aval and its affiliates may incur as a result of: (i) the performance of their duty as a withholder or collector of national and local taxes, and/or (ii) a higher value in their obligations as taxpayers. As of December 31, 2018, and 2017, the amount of the claims reached the sum of Ps. 241,092 and Ps. 81,117 respectively. Investigation of the Superintendency of Industry and Commerce in relation to the Ruta del Sol Project Sector 2 On September 13, 2018, the Superintendency of Industry and Commerce ("SIC") issued Resolution No. 67837 ordering an investigation and formulating charges against a number of individuals and entities, including Grupo Aval Acciones y Valores S.A. ("Grupo Aval"), Corporación Financiera Colombiana S.A. ("Corficolombiana"), Estudios y Proyectos del Sol S.A.S. ("Episol"), a company 100% owned by Corficolombiana and Concesionaria Ruta del Sol (CRDS), a company in which Corficolombiana participates with 33%. Likewise, the SIC decided to charge some current and former officials of Corficolombiana and Grupo Aval, including José Elías Melo Acosta, Luis Carlos Sarmiento Gutiérrez and Diego Fernando Solano Saravia. The SIC argues alleged violations of the Colombian legal regime of free economic competition in the bidding process for the awarding of the Ruta del Sol Sector 2 Project. As a result of the above, the SIC formulated two charges against Corficolombiana, two charges against Episol, one charge against CRDS and one charge against Grupo Aval. The formulation of charges made by the SIC corresponds to the opening of a formal investigation which, after the different stages of the proceeding are conducted, may result in the dismissal of the charges or in the imposition of economic sanctions. In this regard, numeral 15 of article 4 of Decree 2153 of 1992, modified by article 25 of Law 1340 of 2009, provides that for the violation of any of the provisions on protection of competition, the SIC may impose sanctions up to the amount of 100,000 current monthly minimum wages (currently Ps. 82,811 for each charge) or, if it turns out to be greater, up to 150% of the profits derived from the conduct by the offender. In case of an unfavorable decision, the maximum amount of an eventual penalty would impact the net attributable profit of Grupo Aval in Ps. 219,957. Grupo Aval, Corficolombiana and Episol, as well as their officials subject to the investigation, submitted their respective defenses in October 2018, accompanied by documentary evidence and requests for the practice of evidence to debate the reasons that led the SIC to these accusations. Because the proceeding is yet at an initial stage, it is not possible to establish the time it will take the SIC to make a decision in relation to this case. There is also no certainty about the assessment of this contingency, since it will be the result of the investigation and analysis of the SIC in relation to the various documents of defense that were filed, which will lead to the dismissal of the charges or the possible imposition of a fine and graduation of the same. Class Action before the Administrative Tribune of Cundinamarca in connection with the Ruta del Sol Project Sector 2 On January 26, 2017, the Procurator-General Office (Procuraduría General de la Nación or “PGN”) filed a class action against CRDS, (a company formed by Construtora Norberto Odebrecht S.A., Odebrecht Investimentos em Infraestructura Ltda., CSS Constructores S.A. and Episol), the National Infrastructure Agency ("ANI") and its members, for the violation of the collective rights of administrative morality, defense of public patrimony and access to public services, action that was conducted before the first section of the Administrative Tribunal of Cundinamarca ("TAC" ). On December 6, 2018 the TAC, issued a first instance ruling in the referred class action against CRDS, and its shareholders including Episol, and other individuals and entities, including the former President of Corficolombiana, Jose Elias Melo Acosta. In its ruling, the TAC found the defendants jointly and severally liable for the damages caused to the collective interests and ordered the payment of Ps. 800,156 in favor of the Nation-Ministry of Transportation. Likewise, the TAC debarred the defendants for a term of ten years to contract with the Colombian government and to hold positions in public office. Subsequently, by order of February 8, 2019 alleging arithmetical errors in its ruling, the TAC corrected the amount of the sentence reducing it to an amount of Ps. 715,656. The aforementioned ruling is not final since several appeals were filed against it by Episol and the other defendants, which were granted by the TAC in the suspensive effect on February 25, 2019. In the case of Episol, the appeal filed argues multiple substantive and procedural defects in accordance with which the decisions against it should be revoked. A final decision will have to be reached by the Consejo de Estado (Colombia’s Supreme Court on administrative matters). It is not possible to establish the time it will take for the Consejo de Estado to make a decision in relation to this case. In the event that the decision of the TAC is confirmed and that Episol is compelled to assume the entire amount of the sentence, the maximum impact to the net attributable profit of Grupo Aval would be Ps. 273,720. Investigations by United States authorities The Department of Justice of the United States ("DOJ") and the United States Securities and Exchange Commission ("SEC") informed Grupo Aval that they had opened an investigation on matters related to the Ruta del Sol II project. Grupo Aval is cooperating with the DOJ and the SEC in these investigations. It is not possible to predict the decisions that the DOJ or the SEC will take as a result of the issues that are the subject of these investigations, nor the impact that such investigations and their outcome may have on Grupo Aval and / or its subsidiaries entities.

INCOME FROM CONTRACTS WITH CUST

INCOME FROM CONTRACTS WITH CUSTOMERS	12 Months Ended
	Dec. 31, 2018
Income From Contract With Customers [Abstract]
Disclosure of revenue from contracts with customers [text block]	NOTE 28 – INCOME FROM CONTRACTS WITH CUSTOMERS Below is a detail of the income and expenses for commissions and fees of contracts with customers for the years ended as of December 31, 2018, 2017 and 2016: December 31, December 31, December 31, Income from commissions and fees 2018 2017 2016 Commissions on banking services Ps. 2,718,482 Ps. 2,567,704 Ps. 2,436,692 Fees on credit cards 1,187,716 1,112,319 1,034,763 Pension and severance fund management 987,323 926,771 824,089 Trust activities 312,901 311,837 275,719 Storage services 156,638 169,815 186,068 Commissions on drafts, checks and checkbooks 49,645 60,768 67,832 Office network services 30,220 42,639 43,508 Other commissions 10,457 10,272 10,516 Total Ps. 5,453,382 Ps. 5,202,125 Ps. 4,879,187 December 31, December 31, December 31, Commissions and Fees Expenses 2018 2017 2016 Banking Services Ps. (307,191) Ps. (332,811) Ps. (318,672) Sales and Services Commissions (171,680) (119,987) (99,659) Affiliations to Pension Funds (75,130) (74,531) (68,454) Offices Network Services (23,040) (29,874) (33,404) Information Processing Services of Operators (22,525) (23,039) (20,963) Collection Service of Contributions to Financial Entities (7,110) (5,618) (6,084) Banks Guarantees (128) (88) (87) Fiduciary Businesses (46) (41) (256) Credit Cards (12) (2) (14) Other (6,901) (37,123) (71,935) Total Ps. (613,763) Ps. (623,114) Ps. (619,528) Net commission and fee income Ps. 4,839,619 Ps. 4,579,011 Ps. 4,259,659 Below is the detail of the income and cost for goods and services for the years ended as of December 31, 2018, 2017 and 2016: December 31, December 31, December 31, Income from sales of goods and services (2) 2018 2017 (1) 2016 Income from goods and services from non-financial sector Ps. 7,943,420 Ps. 5,656,472 Ps. 6,534,933 Others operating income 182,594 136,378 119,690 Total income Ps. 8,126,014 Ps. 5,792,850 Ps. 6,654,623 December 31, December 31, December 31, Cost for goods and services 2018 2017 (1) 2016 Cost of sales of companies from non-financial sector Ps. (3,812,993) Ps. (3,408,808) Ps. (4,283,588) Allowance for impairment of loans and receivables (21,829) (22,239) (2,007) General and administrative expenses (645,690) (668,616) (635,930) Personnel expenses (499,750) (481,892) (434,145) Amortization (317,035) (300,325) (223,929) Depreciation (100,388) (79,981) (83,991) Bonus payments (34,503) (34,436) (27,555) Commissions and fees expenses (32,876) (24,361) (19,384) Donations expenses (14,320) (12,604) (12,081) Labor severances (2,718) (2,565) (2,718) Total costs for goods and services Ps. (5,482,102) Ps. (5,035,827) Ps. (5,725,328) Net, income from non-financial sector Ps. 2,643,912 Ps. 757,023 Ps. 929,295 (1) See note 2.32. Changes in presentation (2) Grupo Aval has initially adopted IFRS 15 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5) (A).

NET TRADING INCOME

NET TRADING INCOME	12 Months Ended
	Dec. 31, 2018
Disclosure of Net Trading Income [Abstract]
Disclosure of trading income [text block]	NOTE 29 – NET TRADING INCOME Net trading income includes income from client driven trading activities primarily conducted in markets, including foreign exchange, credit, rates and equities trading, as follows: December 31, December 31, December 31, 2018 2017 (1) 2016 (1) Trading investment income (2) Fixed income securities Ps. 98,024 Ps. 218,994 Ps. 369,184 Equities 57,477 177,448 127,431 Total trading investment income Ps. 155,501 Ps. 396,442 Ps. 496,615 Derivatives income Net income (loss) on financial derivatives (3) Ps. 247,880 Ps. (75,224) Ps. 10,593 Other trading income (4) 179,328 240,144 217,490 Total derivatives income Ps. 427,208 Ps. 164,920 Ps. 228,083 Total net trading income Ps. 582,709 Ps. 561,362 Ps. 724,698 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5) (B). (2) Includes net trading income from investment securities held for trading, that reflects the interest from investment in debt securities, gains/losses from mark-to-market valuation from investment in equity and debt securities and net income from trading activities. (3) Includes net trading income from derivatives, which reflects the gains/losses from mark-to-market valuation on trading derivatives. (4) Includes gains/losses from: (i) Net changes in the valuation of hedging derivatives from mark-to-market valuations from unhedged, (ii) the ineffective portion of the hedge, (iii) Transfers of due hedging derivatives from OCI to the statement of income.

OTHER INCOME AND EXPENSE

OTHER INCOME AND EXPENSE	12 Months Ended
	Dec. 31, 2018
Disclosure of Other income and expense [Abstract]
Disclosure of other operating income (expense) [text block]	NOTE 30 – OTHER INCOME AND EXPENSE Below is a detail of the other income and expense in the years ended December 31, 2018, 2017 and 2016: December 31, December 31, December 31, Other Income 2018 2017 2016 Foreign exchange gains (losses), net Ps. 283,440 Ps. 424,483 Ps. 517,902 Share of profit of equity accounted investees, net of tax 197,715 171,964 140,765 Dividends 71,487 50,439 28,027 Gain on the sale of non-current assets held for sale 20,062 13,568 28,392 Net gain on sale of debt and equity securities 1,104 51,712 210,373 Gain on sale of assets (1) 390,472 10,581 21,148 Other income 394,401 428,998 729,499 Total other income Ps. 1,358,681 Ps. 1,151,745 Ps. 1,676,106 (1) For the year 2018, it includes the recognition of the sale profit with subsequent leasing of assets by Banco de Bogotá in Ps. 312,316 and Ps. 60,474 by Banco Popular. December 31, December 31, December 31, Other Expense 2018 2017 2016 Personnel expenses Ps. (3,877,584) Ps. (3,671,117) Ps. (3,531,087) Taxes and fees (757,936) (731,316) (633,260) Depreciation and amortization (539,751) (521,408) (471,608) Consultancy, audit and other fees (569,276) (460,978) (355,590) Affiliation contributions and transfers (511,811) (429,825) (428,581) Wealth tax (1) — (101,988) (267,627) Leases (Rent) (476,590) (431,507) (440,777) Maintenance and repairs (378,433) (392,271) (317,170) Insurance (375,611) (351,745) (316,852) Marketing (327,539) (314,657) (344,423) Warehouse services (270,223) (277,849) (288,491) Transportation services (181,687) (166,429) (160,002) Impairment losses other assets (166,300) (174,255) (47,537) Outsourcing services (128,495) (128,656) (184,330) Cleaning and security services (126,822) (131,451) (138,693) Supplies and stationary (85,128) (82,113) (23,722) Data processing (81,426) (73,872) (81,682) Adaptation and installation (55,815) (62,809) (67,938) Travel expenses (52,584) (48,193) (54,275) Other (408,022) (450,652) (413,664) Total other expense Ps. (9,371,033) Ps. (9,003,091) Ps. (8,567,309) (1) Grupo Aval and its subsidiaries in Colombia were subject to wealth tax for the years 2015, 2016 and 2017 by Law 1739 of 2014, based on their fiscal net asset value as of January 1, 2015, 2016 and 2017, greater or equal to Ps. 1,000, less the exclusions expressly provided for in the tax regulation, including the net asset value of the shares held in national companies. The wealth tax was calculated at progressive rates depending on the amount of liquid equity, and rates range between 0.20% and 1.15% in 2015, 0.15% and 1% in 2016, and 0.05% and 0.40% in 2017.

ANALYSIS OF OPERATING SEGMENTS

ANALYSIS OF OPERATING SEGMENTS	12 Months Ended
	Dec. 31, 2018
Disclosure of operating segments [abstract]
Disclosure of operating segments [text block]	NOTE 31 – ANALYSIS OF OPERATING SEGMENTS Operating segments are components of Grupo Aval responsible for developing commercial activities that can generate revenue or incur expenses and whose operating profit or loss are regularly reviewed by the Board of Directors of Grupo Aval, and for which financial information is available: 31.1 Description of products and services from which each reportable segment derives its income Grupo Aval is organized into five business segments comprised by the four main banks of Grupo Aval: Banco de Bogotá, Banco de Occidente, Banco AV Villas, Banco Popular and Corficolombiana. All these banks and Corficolombiana, provide services relating to banking activities in Colombia and others countries in commercial, consumer, mortgage housing and microcredit banking. Corficolombiana´s core business is the active management of an equity portfolio. 31.2 Factors used by management to identify reportable segments Operating segments identified above are based on the strategic organization of Grupo Aval in order to serve different sectors of the economy in Colombia. 31.3 Measurement of net income, assets and liabilities of operating segments The Board of Directors of Grupo Aval reviews the financial information of each of its operating segments and assesses the performance of each segment based on Statements of Financial Position and the Statement of Income of each of them, and on certain credit risk indicators, as described in note 2.31. 31.4 Information on net income, assets and liabilities of reportable operating segments The following is the detail of the reportable financial information summarized for each segment as of December 31, 2018, 2017 and 2016: Statement of Financial Position December 31, 2018 Banco de Banco de Banco Banco AV Corficolombiana Other Bogotá S.A. Occidente S.A. Popular S.A. Villas S.A. S.A. segments (1) Eliminations Total Assets Trading assets Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. Investment securities — Hedging derivatives assets — — — — Investments in associates and joint ventures — Loans and receivables — Other Assets Total Assets Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. Liabilities Customer Deposits — Financial Obligations Other Liabilities Total Liabilities Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. (1) Includes Grupo Aval Holding, Grupo Aval Limited, Grupo Aval International Limited and ATH Negocio Conjunto. Statement of Income for the year 2018 Banco de Banco de Banco Popular Banco AV Corficolombiana Other Bogotá S.A. Occidente S.A. S.A. Villas S.A. S.A. segments (1) Eliminations Total External Income Interest income Ps. Ps. Ps. Ps. Ps. Ps. Ps. — Ps. Commission and fee income — Income From Sales of Goods and Services — — — Participation in profit or loss associates and joint business — — Dividends — — Other Income — Ps. Ps. Ps. Ps. Ps. Ps. Ps. — Ps. Intersegment Income Interest income Ps. Ps. Ps. Ps. Ps. Ps. 144 Ps. (105,575) Ps. — Commission and fee income 80,403 (123,877) — Income From Sales of Goods and Services — — — (116,274) — Participation in profit or loss associates and joint business — (797,473) — Dividends — (27,488) — Other Income 53,808 (273,515) — 134,355 (1,444,202) — Total income Ps. Ps. Ps. Ps. Ps. Ps. 210,427 Ps. (1,444,202) Ps. Expenses Interest expense Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. Impairment loss on loan and other accounts receivable — — Depreciations and amortizations — Commission and fee expense Costs and expenses of sales goods and services — Administrative Expenses Other expense Income tax expense Total Expenses Net income for the year Ps. Ps. Ps. Ps. Ps. Ps. (9,616) Ps. (993,287) Ps. (1) Includes Grupo Aval Holding, Grupo Aval Limited, Grupo Aval International Limited and ATH Negocio Conjunto. Statement of income for 2018 Banco de Banco de Banco Banco AV Corficolombiana Other Bogotá S.A. Occidente S.A. Popular S.A. Villas S.A. S.A. segments (1) Eliminations Total External Income Revenue from contracts with customers (2) Ps. 4,530,757 Ps. 582,571 Ps. 262,703 Ps. 281,761 Ps. 7,770,108 Ps. 437,292 Ps. (285,796) Ps. 13,579,396 Timing of revenue recognition At a point in time 3,374,159 456,047 190,613 122,614 7,602,668 595 91,964 11,838,660 Over time 1,156,598 126,524 72,090 159,147 167,440 436,697 (377,760) 1,740,736 (1) Includes Grupo Aval Holding, Grupo Aval Limited, Grupo Aval International Limited and ATH Negocio Conjunto. (2) Income from contracts with customers, see note 28. Statement of Financial Position Statement of Financial Position December 31, 2017 (2) Banco de Banco de Banco Banco AV Corficolombiana Other Bogotá S.A. Occidente S.A. Popular S.A. Villas S.A. S.A. segments (1) Eliminations Total Assets Trading assets Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. Investment securities — Hedging derivatives assets — — — — Investments in associates and joint ventures — Loans and receivables — Other Assets Total Assets Ps. Ps. Ps. Ps. Ps. Ps. Ps. (10,091,445) Ps. Liabilities Customer Deposits — Financial Obligations Other Liabilities Total Liabilities Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. (1) Includes Grupo Aval Holding, Grupo Aval Limited, Grupo Aval International Limited and ATH Negocio Conjunto. (2) See note 2.32. Changes in presentation. Statement of Income for the year 2017 (2) Banco de Banco de Banco Popular Banco AV Corficolombiana Other Bogotá S.A. Occidente S.A. S.A. Villas S.A. S.A. segments (1) Eliminations Total External Income Interest income Ps. Ps. Ps. Ps. Ps. Ps. Ps. — Ps. Commission and fee income — Income From Sales of Goods and Services — — — Participation in profit or loss associates and joint business — — Dividends — — Other Income — Ps. Ps. Ps. Ps. Ps. Ps. Ps. — Ps. Intersegment Income Interest income Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. — Commission and fee income — Income From Sales of Goods and Services — — — Participation in profit or loss associates and joint business — — Dividends — — Other Income — — Total income Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. Expenses Interest expense Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. Impairment loss on loan and other accounts receivable — — Depreciations and amortizations — Commission and fee expense Costs and expenses of sales goods and services — Administrative Expenses Other expense Income tax expense Total Expenses Net income for the year Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. (1) Includes Grupo Aval Holding, Grupo Aval Limited, Grupo Aval International Limited and ATH Negocio Conjunto. (2) See note 2.32. Changes in presentation. Statement of Income of the year 2016 (3) (1) Banco de Banco de Banco Banco AV Corficolombiana Other Bogotá S.A. Occidente S.A. Popular S.A. Villas S.A. S.A. segments (2) Eliminations (1) Total External Income Interest income Ps. 10,481,965 Ps. 3,363,556 Ps. 2,042,878 Ps. 1,193,544 Ps. 442,398 Ps. 22,629 Ps. — Ps. 17,546,970 Commission and fee income 3,957,774 387,986 219,717 237,762 63,763 12,185 — 4,879,187 Income from sales of goods and services 4,037 56,109 31,704 — 6,577,127 (14,354) — 6,654,623 Participation in profit or loss associates and joint business (4,275) (484) 388 729 144,407 — — 140,765 Dividends 1,779 1,150 3,112 2,941 18,973 72 — 28,027 Other Income 1,527,712 233,645 183,730 99,701 363,491 4,715 — 2,412,994 Ps. 15,968,992 Ps. 4,041,962 Ps. 2,481,529 Ps. 1,534,677 Ps. 7,610,159 Ps. 25,247 Ps. — Ps. 31,662,566 Intersegment Income Interest income Ps. 219,995 Ps. 2,893 Ps. 848 Ps. 6,223 Ps. 75,641 Ps. — Ps. (305,600) Ps. — Commission and fee income 900 4,386 2,282 13,170 2,115 — (22,853) — Income from sales of goods and services 89,030 72,075 — — (82,407) — (78,698) — Participation in profit or loss associates and joint business 116,488 118,109 (1,206) (1,923) 100 — (231,568) — Dividends — 20,336 25,293 — 944 — (46,573) — Other Income 1,907,706 (9,116) 115 1,610 2,915 — (1,903,230) — 2,334,119 208,683 27,332 19,080 (692) — (2,588,522) — Total income Ps. 18,303,111 Ps. 4,250,645 Ps. 2,508,861 Ps. 1,553,757 Ps. 7,609,467 Ps. 25,247 Ps. (2,588,522) Ps. 31,662,566 Expenses Interest expense Ps. 4,568,469 Ps. 1,455,389 Ps. 995,070 Ps. 451,224 Ps. 947,603 Ps. 312,113 Ps. (337,463) Ps. 8,392,405 Impairment loss on loan and other accounts receivable 1,897,902 579,471 229,948 236,434 59,176 1,253 — 3,004,184 Depreciations and amortizations 352,618 64,252 40,449 24,787 4,513 997 (16,008) 471,608 Commission and fee expense 347,612 99,804 83,857 98,738 8,970 219 (19,672) 619,528 Costs and expenses of sales goods and services 195,564 195,894 31,503 — 5,292,651 (5,779) 15,495 5,725,328 Administrative Expenses 2,943,832 632,153 501,664 324,787 138,626 57,536 (189,399) 4,409,199 Other expense 2,414,696 363,398 293,930 158,243 104,944 (331,792) 463,050 3,466,469 Income tax expense 1,150,393 232,292 151,365 79,994 381,647 3,111 58,107 2,056,909 Total Expenses 13,871,086 3,622,653 2,327,786 1,374,207 6,938,130 37,658 (25,890) 28,145,630 Net income for the year Ps. 4,432,025 Ps. 627,992 Ps. 181,075 Ps. 179,550 Ps. 671,337 Ps. (12,411) Ps. (2,562,632) Ps. 3,516,936 (1) Includes Ps. 2,208,053 of income resulting from the desconsolidation of Corficolombiana. (2) Includes Grupo Aval Holding, Grupo Aval Limited, Grupo Aval International Limited and ATH Negocio Conjunto. (3) See note 2.32. Changes in presentation. Main eliminations of total income, expenses, assets and liabilities between segments with the corresponding consolidated entries at the level of Grupo Aval are: · Loans with financial obligations of entities mainly from non financial sector. · Investments in term deposits and outstanding bonds of in other segments. · Investments in subordinates elimination and record of non- controlling interests. · Expenses and incomes from commissions. 31.5 Analysis of Revenues by Products and Services Grupo Aval’s revenues are analyzed by products and services, in the statement of income. 31.6 Income by Country Grupo Aval’s revenues for each individual country for which revenues are significant, are the following during the years ended December 31, 2018, 2017 and 2016: December 31, 2018 December 31, 2017 December 31, 2016 Colombia Ps. 25,611,992 Ps. 23,824,994 Ps. 24,273,358 Panamá 1,527,626 1,410,766 1,333,843 Costa Rica 3,065,997 2,752,109 2,598,446 Guatemala 1,273,570 1,132,646 1,084,436 Other countries 2,604,040 2,539,337 2,372,483 Total Consolidated Revenues Ps. 34,083,225 Ps. 31,659,852 Ps. 31,662,566 During the years ended December 31, 2018, 2017 and 2016, Grupo Aval’s reported no concentration of revenue in customers with more than a 10% share of revenue from ordinary activities. The foregoing analysis is based on the customer's domicile. Income from off- shore entities of Colombian customers are reported as income from Colombia. The revenues include income from interest, fees, commissions and other operating income. 31.7 Non-current assets by Country Grupo Aval’s non-current assets for each individual country for which non-current assets are significant, are as follows as of December 31, 2018 and 2017: Own – use Property, plant December 31, 2018 and equipment, net (*) Intangible assets Colombia Ps. 4,450,061 Ps. 8,625,595 Panamá 213,090 3,979,443 Costa Rica 378,554 100,631 Guatemala 108,167 15,988 Other countries 513,871 1,145,302 Total Ps. 5,663,743 Ps. 13,866,959 (*) see notes 15 to 18. Own – use Property, plant December 31, 2017 and equipment, net (*) Intangible assets Colombia Ps. 4,635,899 Ps. 5,868,867 Panamá 203,824 3,657,236 Costa Rica 366,800 89,343 Guatemala 98,778 16,714 Other countries 494,696 1,231,744 Total Ps. 5,799,997 Ps. 10,863,904 (*) see notes 15 to 18.

UNCONSOLIDATED STRUCTURED ENTIT

UNCONSOLIDATED STRUCTURED ENTITIES	12 Months Ended
	Dec. 31, 2018
Disclosure of unconsolidated structured entities [abstract]
Disclosure of unconsolidated structured entities [text block]	NOTE 32 – UNCONSOLIDATED STRUCTURED ENTITIES The term "unconsolidated structured entities" refers to all structured entities that are not controlled by Grupo Aval. Grupo Aval enters into transactions with unconsolidated structured entities in the normal course of business to facilitate customer transactions and for specific investment opportunities. The table below shows the total assets of unconsolidated structured entities in which Grupo Aval had an interest at the reporting date and its maximum exposure to loss in relation to those interests. Nature and risks associated with Grupo Aval’s interests in unconsolidated structured entities Grupo Aval’s managed December 31, 2018 Securitizations funds Total Grupo Aval’s interest-assets Investments at fair value through profit or loss Ps. 13,733 Ps. 2,181,725 Ps. 2,195,458 Other account receivables — 34,431 34,431 Total assets in relation to the Grupo Aval’s interests in the unconsolidated structured entities 13,733 2,216,156 2,229,889 Grupo Aval’s maximum exposure (*) Ps. 13,733 Ps. 2,216,156 Ps. 2,229,889 (*) Represent 1.35%, respectively of the Grupo Aval’s managed funds total assets. Grupo Aval’s managed December 31, 2017 Securitizations funds Total Grupo Aval’s interest-assets Investments at fair value through profit or loss Ps. 19,602 Ps. 3,030,499 Ps. 3,050,101 Other account receivables — 37,606 37,606 Total assets in relation to the Grupo Aval’s interests in the unconsolidated structured entities 19,602 3,068,105 3,087,707 Grupo Aval’s maximum exposure (*) Ps. 19,602 Ps. 3,068,105 Ps. 3,087,707 (*) Represent 1.92%, respectively of the Grupo Aval’s managed funds total assets. Grupo Aval invests in asset-backed securities issued by securitization entities for which underlying assets are mortgages granted by financial institutions. Grupo Aval does not have a significant exposure to sub-prime securities. The asset-backed securities are denominated in local market TIPS and accounted for as investment at fair value through profit or loss. These asset-backed securities have different maturities and are generally classified by credit ratings. Also, Grupo Aval retains beneficial interests in the form of servicing fees on the securitized receivable and manages funds. In the normal course of operations, Grupo Aval has trust companies that manage collective investment funds and assets of third parties whose the managing trustees receive commissions. Additionally, Grupo Aval has the subsidiary Fondo de Pensiones y Cesantias Porvenir that manages mandatory pension funds and defined contribution plans. For management services provided by the trust and Porvenir, commissions vary according to the conditions of each fund or asset managed are received. The obligations of these entities in the administration of these assets are of means and do not guarantee the results. The maximum exposure risk of loss is determined by the possible failures in the administration of the funds by the amount of the returns that manages and the return of the results of assets the clients.

TRANSFERS OF FINANCIAL ASSETS

TRANSFERS OF FINANCIAL ASSETS	12 Months Ended
	Dec. 31, 2018
Disclosure of transfers of financial assets [Abstract]
Disclosure of transfers of financial assets [text block]	NOTE 33 - TRANSFERS OF FINANCIAL ASSETS Grupo Aval enters into transactions in the normal course of business by which it transfers financial assets to third parties. Depending on the circumstances, these transfers may either result in these financial assets being derecognized or continuing to be recognized in Grupo Aval´s financial statements. A. Transferred financial assets not qualifying for full derecognition i. Sale and repurchase agreements Sales and repurchase agreements are transactions in which Grupo Aval sells securities and simultaneously agrees to repurchase them (or assets that are substantially the same) at a fixed price on a future date. Grupo Aval continues to recognize the securities in their entirety in the statement of financial position because it retains substantially all of the risks and rewards of ownership. The cash consideration received is recognized as a financial asset and a financial liability is recognized for the obligation to pay the repurchase price. Because Grupo Aval sells the contractual rights to the cash flows of the securities, it does not have the ability to use the transferred assets during the term of the arrangement. As of December 31, 2018, the financial investments debt securities available-for-sale that are being used as collateral in repo operations amounted Ps. 4,029,816 (December 31, 2017 Ps. 2,878,772) see Note 9.5, and financial assets held for trading that are being used as collateral in repo operations amounted Ps. 1,139,782 (December 31, 2017 Ps. 843,075) see Note 8.4. ii. Securities lending As of December 31, 2018, and 2017 Grupo Aval has not recorded securities lending. B. Transfer of financial assets that are derecognized in their entirety. i. Securitizations Certain securitization transactions undertaken by Grupo Aval result in the derecognizing transferred assets in their entirety. This is the case when Grupo Aval transfers substantially all of the risks and rewards of ownership of financial assets to unconsolidated securitization vehicle and retains a relatively small interest in the vehicle or a service arrangement in respect of the transferred financial assets. If the financial assets are derecognized in the entirety, then the interest in unconsolidated securitization vehicles that Grupo Aval receives as part of the transfer and the service arrangement represent continuing involvement with those assets. During the years ended at December 31, 2018, 2017 and 2016, Grupo Aval did not transfer financial assets to special purpose vehicles. However, before 2014, a subsidiary bank made a transfer of mortgage loans to unconsolidated special purpose vehicles as the bank did not have control over them. As a result, the mortgages loans were derecognized of the financial statements as of January 1, 2014, taking the exception under IFRS 1. In the securitization process, Grupo Aval received investment securities as payment for the transferred assets classified as investments at fair value adjusted in profit or loss at December 31, 2018, 2017 and 2016. At present, the subordinate bank collects the accounts receivable transferred to the vehicle, and such collected amounts are immediately transferred to the special purpose vehicle in charge of such accounts. For collecting the payments, Grupo Aval receives 1% as commission fee based on the collected accounts receivable. A loss can potentially occur if the costs incurred in the execution of the collecting service exceed the commission fee revenue received. The table below explain in detail the assets at December 31, 2017, 2016 and 2015 that represent the continuing involvement of Grupo Aval with the accounts receivable transferred and revenue obtained during the collecting process of such loans. December 31, December 31, December 31, At the end of the year 2018 2017 2016 Financial assets (1) Ps. 13,733 Ps. 19,602 Ps. 27,377 Income for commission and fees 79 136 96 (1) Includes investments held for trading through profit or loss and available-for-sale investments. The financial assets held for trading through profit or loss securities in the special purpose vehicle which managed the loans and receivables represents Grupo Aval´s maximum exposure to loss from its continuing involvement in the form of notes issued by unconsolidated securitization vehicles is their carrying amount.

RELATED PARTIES

RELATED PARTIES	12 Months Ended
	Dec. 31, 2018
Disclosure of Related Parties [Abstract]
Disclosure of related party [text block]	NOTE 34 – RELATED PARTIES To verify the correct identification of relationships and transaction with related parties, Grupo Aval has established a specific formal Procedure for the Identification and Disclosure of Balances and Transactions with Related Parties . Such procedure is communicated and made available to our personnel through Grupo Aval’s intranet. In application of this procedure, our members of the board of directors and our key management personnel are periodically required to identify close family members and entities over which such persons have significant influence. Such process is conducted by a written request containing the criteria that such person must consider in order to provide information on close family members and entities that must be disclosed as their related parties. In addition, Grupo Aval Vice-Presidency of Accounting Consolidation periodically performs an evaluation of its controlling and non-controlling investments in other entities to identify if such entities should be treated as a related entity. The following are some of the guidelines included in the abovementioned corporate framework: · Grupo Aval and its subsidiaries shall permanently carry out the registration of the operations performed with related parties, identifying the type of operation, its purpose, economic conditions and authorizations received when applicable. · Grupo Aval and its subsidiaries shall establish limits of indebtedness or exposure and perform constant monitoring of the intragroup operations, complying for such purpose with the restrictions set forth under applicable regulations. · All intragroup operations shall be fully identified by accounting areas of the respective entities. · Authorization levels are defined within the governance and control structure, assigned as may be deemed adequate as a function of the magnitude and type of transaction, keeping the evidence of such authorizations. · It should be verified that related party transactions are carried out for a good and valuable consideration, at market conditions, maintaining a financial equilibrium in the relationships between the entities participating in the operation. This Reference Framework for Institutional Relations was also submitted to the consideration and approval of the Board of Directors of our subsidiaries and has been made available in the web sites of Grupo Aval and its subsidiaries. Balances as of December 31, 2018 and 2017, with related parties, are detailed in the following tables: Individuals Entities Entities Individuals with with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2018 Aval (*) personnel (*) ventures individuals individuals Assets Cash and equivalents Ps. — Ps. — Ps. — Ps. — Ps. — Financial assets in investments — — 920,170 — — Financial assets in credit operations 2,680 17,062 1,443,476 1,513,218 Accounts receivable 9 58 8,105 3,329 17 Other assets — — 20,348 5,030 — Liabilities Deposits Ps. 100,199 Ps. 21,726 Ps. 70,960 Ps. 570,558 Ps. 23,470 Accounts payable 38 686 10,114 291,328 1 Financial obligations 1 3 102 7 — Other liabilities — — 25,040 194 3 (*) Include family members Individuals Entities Entities Individuals with with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2017 Aval (*) personnel (*) ventures individuals individuals Assets Cash and equivalents Ps. — Ps. — Ps. 11 Ps. — Ps. 67 Financial assets in investments — — 910,310 1,249 — Financial assets in credit operations 3,066 10,665 1,492,067 1,301,697 3,385 Accounts receivable 11 33 59,588 4,421 — Other assets — — 156,636 3,661 18 Liabilities Deposits Ps. 21,257 Ps. 20,192 Ps. 2,535,339 Ps. 1,566,160 Ps. 1,275 Accounts payable 103 700 15,353 322,275 18,671 Financial obligations 4 10 16,435 1,249 — Other liabilities — 4 7,424 49 — (*) Include family members Transactions during the years ended as of December 31, 2018, 2017 and 2016, with related parties are as follows: a. Profit or loss Individuals Entities Individuals with Entities with control Key Associates Entities significant over Grupo management and joint controlled by influence by December 31, 2018 Aval (*) personnel (*) ventures individuals individuals Income Interest income Ps. 216 907 101,539 131,368 4,789 Fee income and commissions 5 58 6,664 65,615 5 Leases — — 45 315 — Other income 4 243 241,797 4,252 — Expenses Financial expenses (216) (740) (735) (17,322) (22) Fee expenses and commissions (4) (1,549) (14,741) (1,796) (5) Operating expenses — (25,808) (53) (4,013) — Other expenses (16) (496) (30,250) (27,034) — (*) Include family members Individuals Entities Entities with Individuals with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2017 Aval (*) personnel (*) ventures individuals individuals Income Interest income Ps. 164 757 155,690 123,671 543 Fee income and commissions 5 48 26,249 57,180 — Leases — — 321 301 — Other income 4 59 236,871 6,391 — Expenses Financial expenses (243) (1,197) (129,335) (30,431) (6) Fee expenses and commissions (4) (1,510) (24,039) (3,276) (1) Operating expenses — (9,706) (3,572) (1,892) (113) Other expenses — (1,635) (32,691) (34,400) — (*) Include family members Individuals Entities Entities with Individuals with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2016 Aval (*) personnel (*) ventures individuals individuals Income Interest income Ps. 28 321 81,646 64,299 789 Fee income and commissions 4 28 12,717 33,659 — Leases — — 66 290 30 Other income 440 — 171,405 2,957 9,915 Expenses Financial expenses (84) (656) (88,800) (19,064) — Fee expenses and commissions (333) (931) (15,451) (2,674) (143) Operating expenses — (5,588) (75) (2,060) (1) Other expenses (11) (1,390) (193,762) (15,159) (811) Outstanding amounts are not guaranteed and shall be liquidated in cash. Guarantees have not been granted or received. No expense has been recognized during the current period nor in previous periods with respect to uncollectable or accounts of doubtful collection relating to amounts in debt by related parties. b. Compensation of Key Management Personnel The compensation received by the key personnel of the management comprises the following: Year ended as of December 31, December 31, December 31, Items 2018 2017 2016 Salaries Ps. 18,123 Ps. 17,073 Ps. 15,731 Short term benefits for employees 3,244 3,167 10,664 Total Ps. 21,367 Ps. 20,240 Ps. 26,395 Transactions with our related parties correspond primarily to the normal course of banking business activities made under market conditions. Such transactions include demand and saving deposits, time deposits, commercial, consumer and mortgage loans, financial leases, payment of dividends and or interest.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2018
Disclosure of non-adjusting events after reporting period [abstract]
Disclosure of events after reporting period [text block]	NOTE 35 – SUBSEQUENT EVENTS At the General Meeting of Shareholders that took place on March 29, 2019, it was declared a dividend of Ps. 5.00 per month for the preferred and common shares, during period of twelve-month between April, 2019 and March 2020, for a total dividend of Ps. 1,336,861 according to the following: Net income for period ended December 31, 2018 included in the unconsolidated financial statements of Grupo Aval Occasional reserve release at the disposal of the General Meeting of Shareholders Total Income available for disposal of the General Meeting of Shareholders Cash Dividends Ps. 60 per share payable in twelve monthly installments of Ps. 5.00 per share, from April 2019 to March, 2020. Total shares outstanding Total dividends declared Ps. To Occasional reserve at the disposal of General Meeting of Shareholders In a meeting held on March 29 2019, Grupo Aval’s Board of Directors approved the presentation of the consolidated financial statements under Colombian IFRS and the accompanying notes for the period ended December 31, 2018, for consideration of the General Meeting of Shareholders.

PARENT COMPANY INFORMATION

PARENT COMPANY INFORMATION	12 Months Ended
	Dec. 31, 2018
PARENT COMPANY INFORMATION
PARENT COMPANY INFORMATION	NOTE 36 – PARENT COMPANY INFORMATION Condensed separate statement of financial position The following are the condensed separate (alone) statements of financial position of Grupo Aval Acciones y Valores S.A., at December 31, 2018, and 2017 and condensed separate statements of income and statement of cash flows for the fiscal year ended December 31, 2018, 2017 and 2016. Condensed separate Statement of Financial Position December 31, 2018 2017 Current Assets Cash and cash equivalents Ps. 38,667 Ps. 35,478 Trading securities 1,543 453 Accounts receivable from related parties 267,640 274,323 Other assets 517 513 Total current assets Ps. 308,367 Ps. 310,767 Non current Assets Investments in subsidiaries 19,932,376 18,589,623 Property plant and equipment 2,414 2,851 Deferred tax 476 — Total non current assets Ps. 19,935,266 Ps. 18,592,474 Total assets Ps. 20,243,633 Ps. 18,903,241 Current liabilities Borrowings at amortized cost 2,808 290,101 Outstanding bonds at amortized cost 284,758 5,725 Accounts payable 405,372 440,318 Other non-financial liabilities 1,214 1,233 Total current liabilities Ps. 694,152 Ps. 737,377 Long-term liabilities Borrowings at amortized cost 541,924 253,503 Outstanding bonds 824,520 1,104,080 Deferred tax liabilities — 33 Total non current liabilities Ps. 1,366,444 Ps. 1,357,616 Total liabilities Ps. 2,060,596 Ps. 2,094,993 Equity Shareholders’ equity 18,183,037 16,808,248 Total liabilities and shareholders’ equity Ps. 20,243,633 Ps. 18,903,241 December 31, December 31, December 31, Condensed separate Statement of Income 2018 2017 2016 Operating revenue Equity method income, net Other revenue from ordinary activities 285,218 234,502 77,387 Total operating revenue Ps. Ps. Ps. Expenses, net Administrative expenses 75,348 89,823 98,130 Other expenses 166 274 168 (Losses) gains from exchange differences (1,601) 98 (1,085) Operating income Ps. Ps. Ps. Financial expenses 118,892 133,171 125,585 Net income before taxes Ps. Ps. Ps. Income tax expense 66,662 51,568 5,620 Net income Ps. Ps. Ps. December 31, December 31, December 31, Condensed separate Cash flow 2018 2017 2016 Net income Ps. 2,915,984 Ps. 1,964,919 Ps. 2,177,613 Adjustments to reconcile net income to net cash used by operating activities (1,773,713) (867,042) (1,726,296) Net cash provided by operating activities 1,142,271 1,097,877 451,317 Net cash provided (used in) by investing activities (11,185) (8,830) (55,374) Net cash (used in) provided by financing activities (1,127,897) (1,100,849) (360,827) Increase (decrease) in cash and cash equivalents 3,189 (11,802) 35,116 Cash and cash equivalents at beginning of year 35,478 47,280 12,164 Cash and cash equivalents at end of year Ps. 38,667 Ps. 35,478 Ps. 47,280 Basis for presenting and summary of significant accounting policies The attached separated financial statement of Grupo Aval have been prepared in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB), and their interpretations from the International Financial Reporting Standards Committee (IFRIC), currently in force and on the basis of historic cost, except for financial assets at fair value through profit or losses. Certain information and footnote disclosures normally included in financial statements prepared in accordance with IFRS have been condensed or omitted. The separated financial statements of Grupo Aval have been prepared using the same IFRS basis and principles that Grupo Aval used to prepare it consolidated financial statements described in Note 2, except as provided below for its investments in subsidiaries. Commitments and contingencies In the normal course of business, certain subsidiaries of Grupo Aval are defendants in various tax and legal proceedings. Grupo Aval is not aware of any pending legal proceedings which could have a significant effect on its financial position or the results of its operations. Investment in subsidiaries companies Based on the IAS 27, when an entity prepares separate financial statements it shall account for investments in subsidiaries either: a) at cost or b) at fair value, in accordance with IFRS 9 or c) using the equity method. Accordingly Grupo Aval accounts its investments in subsidiaries using the equity method. The equity method is an accounting method according to which the investment is initially recorded at cost, and they are periodically adjusted due to changes in the interest of the parent company over the net assets of the subsidiaries. Grupo Aval records on the result of the period its participation in the profit or loss of the subsidiaries, and in OCI its participation in the “Other comprehensive income account” of the subsidiary. In applying equity method Grupo Aval uses the subsidiaries consolidated financial statements at the end of the period prepared under IFRS. Gain and losses resulting from transactions between Grupo Aval and its subsidiaries are recognized in the Grupo Aval´s financial statement only to the extent of Grupo Aval interest in the subsidiaries, unless the transaction provides evidence of an impairment in the book value of transferred assets. Additionally, in a business combination process, to acquire some subsidiaries any difference between the cost of investment and Grupo Aval’s share on the net fair value of the subsidiary identifiable acquired assets and assumed liabilities is accounted as follows: Goodwill relating to the acquisition is included in the carrying amount of the investment. Amortization of goodwill is not permitted. Appropriate adjustments to Grupo Aval’s investments in the subsidiary after acquisition are made to account for example for depreciation of assets acquired in the business combination process based on their fair value at the acquisition date and for the impairment losses in such assets. Investment in Subsidiaries Investment in subsidiaries as of December 31, 2018 and 2017 comprise the following: December 31, 2018 December 31, 2017 Ownership Ownership interest held interest held by Grupo Book by Grupo Book Subsidiary Aval Value Aval Value Banco de Bogotá S.A. 68.74 % Ps. 11,905,815 68.74 % Ps. 11,000,669 Banco de Occidente S.A. 72.27 % 3,183,351 72.27 % 3,174,228 Banco Comercial AV Villas S.A. 79.87 % 1,290,056 79.87 % 1,190,740 Banco Popular S.A. 93.74 % 2,923,562 93.74 % 2,710,218 Corporación Financiera Colombiana S.A. 38.25 % 674,484 44.79 % 504,962 Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. 75.69 % 440,707 75.69 % 401,341 Grupo Aval Limited 100.00 % (347,082) 100.00 % (315,227) Grupo Aval International Limited 100.00 % (138,517) 100.00 % (77,308) Ps. Ps. Outstanding bonds Bonds at December 31, 2018 and 2017 comprise the following: Amounts outstanding Issuance date Tranches Maturity Coupon rate 2018 2017 June, 2017 Ps. 100,000 June, 2020 IPC + 2.69 % Ps. 100,065 Ps. 100,074 June, 2017 300,000 June, 2042 IPC + 3.99 % 300,237 300,264 November, 2016 93,000 November, 2026 IPC + 3.86 % 93,690 93,758 November, 2016 207,000 November, 2036 IPC + 4.15 % 208,597 208,750 December, 2009 279,560 December, 2019 IPC + 4.84 % 281,341 281,528 December, 2009 124,520 December, 2024 IPC + 5.20 % 125,348 125,431 Total Bonds Ps. 1,104,080 Ps. 1,109,278 Ps. 1,109,805 The scheduled maturities of bonds as of December 31, 2018 are as follows Period Amount 2019 284,758 2020 100,000 2021 and thereafter 724,520 Total Ps.

BASIS OF PREPARATION OF THE C_2

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2018
Disclosure of voluntary change in accounting policy [abstract]
Disclosure of basis of consolidation [text block]	2.1 Basis of preparation a) The consolidated financial statements are prepared as follows: · The consolidated statement of financial position presents the company´s assets and liabilities based on liquidity since it provides reliable and more relevant information, than separate current and non-current classifications. · The consolidated statements of income and other comprehensive income are presented separately. The Consolidated Statement of Income is presented according to their nature, as this method provides reliable and more relevant information. · The consolidated statement of cash flows is presented using the indirect method. Accordingly, net cash flows from operating activities are determined by reconciling profit before taxes, with the effects of non-cash items, net changes in assets and liabilities from operating activities, and for any other effects that are not classified as investing or financing activities. Revenue and expenses due to interest received and paid are part of operating activities. b) Grupo Aval prepares its consolidated financial statements incorporating its controlled entities. Grupo Aval controls an investee if and only if it complies with the following elements: · Power over the investee entitling Grupo Aval to direct any relevant activities that significantly affect the investee's performance. · Exposure, or rights to variable returns from its involvement with the investee. · Ability to affect those returns through its power over the investee. In order to comply with this requirement, Grupo Aval carries out an annual reassessment of all its contractual relationships. No new entities are required to be consolidated as a result of this process, including no structured entities. The financial statements of subsidiaries Grupo Aval´s are included in the consolidated financial statements since the date on which Grupo Aval acquires control until the date on which control is lost. During the consolidation process, Grupo Aval combines the assets, liabilities and profits or losses of those entities under control, previously aligning the accounting policies in all the subsidiaries. Such process includes eliminating intra-group balances and transactions and any unrealized and realized income and expense (except for foreign currency translation gains or losses, taxes are not subject of elimination) arising from intra-group transactions. Unrealized and realized losses are eliminated in the same way as unrealized and realized gains but only to the extent that there is no evidence of impairment. Non-controlling interest is presented in the consolidated statement of financial position of Grupo Aval separately from that attributable to owners of the parent company. For consolidation purposes, the statements of financial position and income of Grupo Aval´s foreign subsidiaries are translated to Colombian pesos, as follows: · Assets and liabilities are translated at the closing exchange rate at the reporting date; · Income, expense and cash flows of foreign operations are translated at monthly average exchange rates since those averages approximate the exchange rates of each specific transaction; · All resulting exchange differences are recognized in other comprehensive income and accumulated in the foreign currency translation reserve, except to the extent that the translation difference is allocated to non-controlling interests. c) Associates are companies in which Grupo Aval has significant influence but not control and are accounted for under the equity method. They are presented in the statement of financial position as “Investments in associates and joint ventures” (additionally see Note 2.1 “d) Joint arrangements”). Grupo Aval exercises significant influence over another entity if it owns, directly or indirectly, 20% or more of the voting power of the investee, unless it is clearly evidenced that such influence does not exist. Under the equity method, investments in associates are initially recognized at cost and subsequently adjusted by Grupo Aval´s share in the associates income and other comprehensive income with credit or charge to Grupo Aval’s profit or loss account and other comprehensive income, respectively of the net income, and other comprehensive income of the investee. Dividends received from associates and joint ventures are recognized as a reduction in the carrying amount of the investment. Grupo Aval´s share of losses in an equity-accounted investment equals or exceeds its interest in the entity, including any other unsecured long-term receivables, Grupo Aval does not recognize further losses, unless it has incurred obligations or made payments on behalf of the other entity. Unrealized gains on transactions between Grupo Aval and its associates are eliminated to the extent of Grupo Aval’s interest in these entities. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed where necessary to ensure consistency with the policies adopted by Grupo Aval. The carrying amount of associates is tested for impairment. d) A joint arrangement is one in which two or more parties have joint control of the arrangement. Joint arrangements are divided into joint operations, in which the parties having joint control of the agreement have rights to the assets and obligations with respect to the liabilities relating to the agreement, and joint ventures, wherein the parties having joint control are entitled to the net assets of the agreement. Grupo Aval recognizes joint operations in the consolidated financial statements based on their proportional and contractual participation in each of the assets, liabilities and profit or loss of the contract or entity wherein the agreement is held. Grupo Aval recognizes joint ventures through the equity method, in the same manner as investments in associates.
Description of accounting policy for functional currency [text block]	2.2 Functional currency Considering that the majority of the operation, generation and use of cash of Grupo Aval is in Colombian pesos, the Colombian peso is the currency that most accurately represents the economic environment of Grupo Aval’s operations, both for the consolidated financial statements and for the parent company. Foreign subsidiaries have functional currencies different from the Colombian peso, which are translated to Colombian pesos for presentation purposes.
Description of accounting policy for foreign currency transaction [Text Block]	2.3 Transactions in foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the prevailing exchange rate at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies in terms of historical costs are measured using the exchange rate at the transaction date. Financial instruments measured at fair value are converted using the exchange rate at the date the fair value was determined. Profits or losses resulting from the translation process are recognized in profit or loss, except for financial instruments designated as hedging instruments. As of December 31, 2018, and 2017, the representative market rates as computed and certified by the Superintendency of Finance (for the U.S. $ which is the most representative foreign currency for Grupo Aval´s transactions) were Ps. 3,249.75 and Ps. 2,984.00 per U.S. $1, respectively.
Description of accounting policy for foreign currency translation [text block]	2.4 Convenience translation into U.S. dollars The presentation currency of Grupo Aval´s consolidated financial statements is the Colombian Peso. The U.S. dollar amounts disclosed in the accompanying consolidated financial statements are presented solely for the convenience of the reader, dividing the Colombian peso amounts by the exchange rate of Ps. 3,249.75 per US$1.00, which is the market exchange rate as of December 31, 2018, as calculated and certified by the Central Bank of Colombia. The use of this methodology in translating Colombian pesos into U.S. dollars is referred to as the “U.S. dollar translation methodology,” and should not be construed as a representation that the Colombian peso amounts actually represent or have been, or the amount that could be converted into U.S. dollars at that rate or any other rate.
Description of Accounting Policy for Changes in Accounting Policy [Policy Text Block]	2.5 Changes in accounting policies The following table summarizes the impact, net of taxes, of the adoption of IFRS 15 and IFRS 9 in the statement of financial position as of January 1, 2018. Impact of Reference the adoption IFRS 15 Revenue from contracts with customers A Ps. 391,281 IFRS 9 Financial Instruments B (784,399) Net impact at January 1, 2018 Ps. (393,118) A. IFRS 15 “Revenue from contracts with customers” Grupo Aval has adopted Revenue from Contracts with Customers IFRS 15 using the cumulative effect method, with the effect of initial adoption recognized on January 1, 2018. Accordingly, the information presented for 2017 and 2016, has not been restated – i.e. it is presented, as previously reported, under – IAS 18 Revenue, IAS 11 Construction Contracts, IFRIC 12 “Service Concession Arrangements” and related interpretations. Additionally, the disclosure requirements in IFRS 15 have not generally been applied to comparative information. The following table summarizes the impact net of taxes, of the adoption of IFRS 15 in the statement of financial position as of January 1, 2018. Impact of the adoption of IFRS 15 as of January 1, 2018 Operation and construction services (Concessions) (i) Commissions related to funding (see note 16) Ps. 12,744 Contract liability (see note 24) (531,804) Financial assets (see note 16) 450,878 Intangible assets (see note 16) 619,949 Deferred tax effect (181,680) 370,087 Customer loyalty programs (ii) Customer loyalty programs 32,232 Deferred tax effect (11,038) 21,194 Net impact retained earnings at January 1, 2018 Ps. 391,281 The main revenue streams impacted by the adoption of IFRS 15, including a description of the accounting policy change, are described below: i. IFRS 15 (see note 2.29 (iii)) incorporates elements related to revenue recognition, such as: a) performance obligations; b) the interest rates of significant financing components; c) the distribution of income among the different performance obligations; and d) the determination of methods for measuring the progress of performance obligations that are met over time. The impact was mainly done to: a) a change in the discount rates applied in the determination of the significant financing components which; under IFRS 15, are directly associated to the risk characteristics of the counterparty of the concessions agreements (i.e. Government), b) the amounts of revenue allocated to the different performance obligations identified in the concession agreements (mainly construction, and operation and maintenance); and c) changes in the methodologies for measuring the progress of performance obligations. ii. Under IAS 18 / IFRIC 13 consideration was allocated to the loyalty program based on the fair value of the loyalty points and the remaining consideration was allocated to the products or services. Under IFRS 15, the transaction price is allocated between the performance obligations based on the relative standalone selling prices of each performance obligation. Therefore, for customer loyalty points a lower level of revenue is deferred according to IFRS 15 than under IAS 18. B. IFRS 9 “Financial Instruments” The following table summarizes the impact, net of tax, of our transition to IFRS 9 on the opening balance of reserves and retained earnings and Other Comprehensive Income (“OCI”) as of January 1, 2018 (for a description of the transition method, see (iv) below). Impact of adopting IFRS 9 on opening balance of: Reserves and Total reference retained earnings OCI equity Recognition of changes in measurement due in classification under IFRS 9 i. Ps. — Ps. 71,229 Ps. 71,229 Recognition of expected credit losses under IFRS 9 ii. (1,255,060) 56,198 (1,198,863) Impact on equity method due to impairment of other accounts receivable from associates ii — (3,691) (3,691) Deferred tax effect 366,650 (19,725) 346,926 Impact as of January 1, 2018 Ps. (888,411) Ps. 104,011 Ps. (784,399) The details of the significant new accounting policies and the nature and effect of the changes in accounting policies that resulted from the adoption of IFRS 9 were applied retrospectively, as detailed below. Grupo Aval has followed the exemption of IFRS 9 not to restate comparative information for prior periods with respect to classification and measurement (including impairment) requirements resulting from the adoption of the new standard. Therefore, differences in the carrying amounts of financial assets and financial liabilities resulting from the adoption of IFRS 9 are recognized in retained earnings and reserves as of January 1, 2018. Accordingly, the information presented for 2017 does reflect the requirements of IAS 39. i. Classification and Measurement of Financial Assets and Liabilities IFRS 9 contains three classification categories for financial assets: measured at amortized cost, Fair Value Through Other Comprehensive Income (“FVOCI”) and Fair Value Through Profit or Loss (“FVTPL”). The classification of financial assets under IFRS 9 is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. IFRS 9 eliminates the previous IAS 39 categories of held to maturity, loans and receivables and available for sale. Under IFRS 9, derivatives embedded in contracts where the host is a financial asset in the scope of the standard are never separated. Instead, the hybrid financial instrument as a whole is assessed for classification. IFRS 9 largely retains the existing requirements in IAS 39 for the classification and measurement of financial liabilities. The adoption of IFRS 9 has not had a significant effect on Grupo Aval’s accounting policies related to financial liabilities and derivative financial instruments (for derivatives that are used as hedging instruments, see (iii)). For an explanation of how Grupo Aval classifies and measures financial instruments and accounts for related gains and losses under IFRS 9, see Note 2.6(ii). The following table and the accompanying notes below explain the original measurement categories under IAS 39 and the new measurement categories under IFRS 9 for each class of Grupo Aval’s financial assets and financial liabilities as of January 1, 2018. Financial assets New Carrying classification amount Carrying Original classification under under Remeasurement amount under under IAS 39 IFRS 9 IAS 39 Reclassification (1) impact to OCI IFRS 9 Cash and cash equivalents Loans and receivables Amortized cost Ps. 22,336,838 Ps. — Ps. — Ps. 22,336,838 Debt securities Held-for-trading Amortized cost — — — FVTPL 2,650,536 — — 2,650,536 FVOCI — — — — Available-for-sale Amortized cost — — — — FVTPL mandatory (*) 8,256 — — 8,256 FVOCI 17,781,871 — — 17,781,871 Held to maturity Amortized cost 2,899,039 — — 2,899,039 FVTPL — — — — FVOCI — — — — Equity securities Held-for-trading FVTPL 2,149,160 — — 2,149,160 FVOCI — — — — Available-for-sale FVTPL — — — — FVOCI 824,033 41,790 71,229 937,054 Derivatives Held-for-trading FVTPL 328,392 — — 328,392 Hedging instrument Hedging instrument 55,261 — — 55,261 Loans and leases receivables Loans and receivables Amortized cost 166,372,776 — — 166,372,776 FVTPL — — — — Other receivables Loans and receivables Amortized cost 3,680,116 — — 3,680,116 Assets under concession contracts Loans and receivables Amortized cost 786,018 — — 786,018 Designated as at FVTPL FVTPL 2,282,611 — — 2,282,611 Total financial assets Ps. 222,154,907 Ps. 41,790 Ps. 71,229 Ps. 222,267,926 Financial liabilities Original New carrying classification amount New carrying Original classification under under amount under under IAS 39 IFRS 9 IAS 39 Reclassification Remeasurement IFRS 9 Deposits Other financial liabilities Amortized cost Ps. 154,885,224 Ps. — Ps. — Ps. Financial liabilities Other financial liabilities Amortized cost 45,276,036 — — 45,276,036 Derivatives Held-for-trading FVTPL 298,665 — — 298,665 Hedging instrument Hedging instrument 13,464 — — 13,464 Total financial liabilities Ps. 200,473,389 Ps. — Ps. — Ps. (*) After the adoption of IFRS 9, certain investment securities were classified as at FVTPL because the contractual cash flows of these securities are not Solely Payments of Principal and Interest (“SPPI”) on the principal outstanding. The reclassified assets include certain asset-backed securities whose exposure to credit risk is higher than the exposure to credit risk of the underlying pool of financial assets. (1) Reclassification from other assets, measured at cost as of December 31, 2017. ii. Impairment of financial assets IFRS 9 replaces the ‘incurred loss’ model in IAS 39 with an ‘expected credit loss’ (ECL) model. The new impairment model applies to financial assets measured at amortized cost, contract assets and debt investments at FVOCI, but not to investments in equity instruments. Under IFRS 9, credit losses are recognized earlier than under IAS 39 – see Note 2.6(ix). For assets within the scope of the IFRS 9 impairment model, impairment losses are generally expected to increase and become more volatile. Grupo Aval has determined that the application of IFRS 9’s impairment requirements as of January 1, 2018 results in an additional impairment allowance recognition as follows: Loss allowance as of December 31, 2017 under IAS 39 Ps. (5,875,018) Additional impairment recognized as of January 1, 2018 on: Loans (1,163,009) Credit Commitments (16,217) Other accounts receivable (18,907) Impact on equity method investees due to impairment of other accounts receivable from associates (3,691) Debt securities measured at amortized cost (672) Other financial assets (58) Loss allowance as of January 1, 2018 under IFRS 9 Ps. (7,077,572) Recognition of expected credit losses under IFRS 9 for debt financial assets at FVOCI impacts OCI and retained earnings at the same time, therefore the net impact on total equity is zero. The table below shows the impact on retained earnings from impairment: Impairment loss due to credit risk as of December 31, 2017 under IAS 39 Ps. (71,708) Additional impairment recognized as of January 1, 2018 on: Debt securities measured at FVOCI (56,198) Loss allowance as of January 1, 2018 under IFRS 9 Ps. (127,906) Additional information about how Grupo Aval measures the allowance for impairment is described in Note 4(4.1). iii. Hedge Accounting When initially applying IFRS 9, Grupo Aval may choose as its accounting policy to continue to apply the hedge accounting requirements of IAS 39 instead of the requirements in Chapter 6 of IFRS 9. Grupo Aval has elected to continue to apply IAS 39. iv. Transition Changes in accounting policies resulting from the adoption of IFRS 9 are generally applied retrospectively, except as described below. · Grupo Aval applied the exemption allowing not to restate comparative information for prior periods with respect to classification and measurement changes (including impairment). · Differences in the carrying amounts of financial assets and financial liabilities resulting from the adoption of IFRS 9 were recognized in retained earnings and reserves as of January 1, 2018. The following assessments were performed on the basis of the facts and circumstances that exist at the date of initial application: · The determination of the business model within which a financial asset is held. · The designation and revocation of previous designations of certain financial assets and financial liabilities as measured at FVTPL. · The designation of certain investments in equity instruments not held for trading as at FVOCI. · If a debt investment security has low credit risk at January 1, 2018, then Grupo Aval determined that the credit risk on the asset has not increased significantly since initial recognition.
Description of Accounting Policy For Financial Assets and Financial Liabilities [Policy Text Block]	2.6 Financial assets and financial liabilities i. Recognition and initial measurement Grupo Aval initially recognizes loans and advances, deposits, debt securities issued and subordinated liabilities on the date on which they are originated. All other financial instruments (including regular-way purchases and sales of financial assets) are recognized on the trade date, which is the date in which Grupo Aval becomes a party to the contractual provisions of the instrument. A financial asset or financial liability is measured initially at fair value and in addition for instruments at amortized cost or FVOCI, incorporates transaction costs that are directly attributable to its acquisition or issuance. ii. Classification Financial assets - Policy applicable starting January 1, 2018 On initial recognition, a financial asset is classified as: amortized cost, Fair Value Through Other Comprehensive Income (“FVOCI”) or FVTPL. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: · The asset is held within a business model in which the objective is to hold assets to collect contractual cash flows; and · The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A debt instrument is measured at FVOCI only if it meets both of the following conditions and is not designated as at FVTPL: · The asset is held within a business model whose objective is achieved both by collecting contractual cash flows and selling financial assets; and · The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. On initial recognition of an equity investment that is not held for trading, Grupo Aval may irrevocably elect to present subsequent changes in fair value in Other Comprehensive Income (“OCI”). This election is made on an investment-by-investment basis. All other financial assets are classified as measured at FVTPL. Business model assessment Grupo Aval makes an assessment of the objective of a business model in which an asset is held at a portfolio level because this best reflects the way the business is managed, and information is provided to management. The information considered includes: · The expected policies and objectives for the portfolio and the actual application of them. In particular, whether management’s strategy focuses on earning contractual interest revenue, maintaining a particular interest rate profile, matching the duration of the financial assets to the duration of the liabilities that are funding those assets or realizing cash flows through the sale of the assets; · How the performance of the portfolio is evaluated and reported to Grupo Aval’s management; · The risks that affect the performance of the business model (and the financial assets held within that business model) and how those risks are managed; and · The frequency, volume and timing of sales of financial assets in prior periods, the reasons for such sales and its expectations about future sale activity. However, information about sales activity is not considered in isolation, but as part of an overall assessment of how Grupo Aval’s stated objective for managing the financial assets is achieved and how cash flows are realized. Financial assets that are held for trading and whose performance is evaluated on a fair value basis are measured at FVTPL because they are neither held to collect contractual cash flows nor held both to collect contractual cash flows and to sell financial assets. Assessment whether contractual cash flows are solely payments of principal and interest (SPPI) For the purposes of this assessment, ‘principal’ is defined as the fair value of the financial asset on initial recognition. ‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and costs (e.g. liquidity risk and administrative costs), as well as profit margin. In assessing whether the contractual cash flows are solely payments of principal and interest, Grupo Aval considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the timing or amount of contractual cash flows such that it would not meet this condition. In making the assessment, Group Aval considers: · Contingent events that would change the amount and timing of cash flows; · Leverage covenants; · Prepayment and extension terms; · Terms that limit Grupo Aval’s claim to cash flows from specified assets; and · Features that modify consideration of the time value of money. Interest rates on certain corporate and retail loans originated by Grupo Aval are pegged to standard variable rates (SVRs) generally used in each country where Grupo Aval operates and includes a discretional spread. In Colombia, the SVRs are based on the DTF or IBR rates which are calculated weekly by the Central Bank based on information collected from the Colombian financial system, plus a discretionary spread, and in the case of loans in foreign currency Grupo Aval uses Libor interest rates plus a discretionary spread. In these cases, Grupo Aval will assess whether the discretionary feature is consistent with the SPPI criteria by considering a number of factors, including whether: · Borrowers are able to prepay the loans without significant penalties, · Market competition ensures that interest rates are consistent between banks; and · Any regulatory or customer protection framework is in place that requires banks to treat customers fairly. A prepayment feature is consistent with the SPPI criterion if the prepayment amount substantially represents unpaid amounts of principal and interest on the principal amount outstanding, which may include reasonable compensation for early termination of the contract. In addition, a prepayment feature is treated as consistent with this criterion if a financial asset is acquired or originated at a premium or discount to its contractual par amount, and the prepayment amount substantially represents the contractual par amount plus accrued (but unpaid) contractual interest (which may also include reasonable compensation for early termination), and the fair value of the prepayment feature is insignificant upon initial recognition. Financial assets - Policy applicable until December 31, 2017 For accounting purposes, financial assets were classified at initial recognition into four categories: · Fair value through profit or loss: (i) Held for trading financial assets acquired to generate short term profits or that were part of a portfolio of financial instruments managed together for that purpose. (ii) Some financial assets under concessions contracts were included in this category in order to obtain more relevant information, either because this eliminated or significantly reduced recognition or measurement inconsistencies (accounting mismatches) that would otherwise arise from measuring assets or recognizing the gains or losses on them on different bases, in accordance with a documented risk management or investment strategy, and information was provided on that basis to Grupo Aval’s key management personnel. This classification adequately reflected the present market expectations over future costs comprising the amount of the concession to be negotiated with the different Colombian Government, upon the termination of the concession or its renewal. · Held-to-maturity Investments: These were debt securities with fixed or determinable payments and a fixed maturity date, which Grupo Aval intended and had the ability to hold to maturity. · Loans and receivables: These were financial assets of fixed or determinable payments that were not quoted in active markets and were not classified as either trading or available-for-sale. · Available-for-sale: These were financial assets that were designated initially as available-for-sale and are those not classified as loans and receivables, or as held-to-maturity investments. Financial liabilities Grupo Aval classified its financial liabilities, other than derivatives, financial guarantees and loan commitments, as measured at amortized cost. iii. Reclassifications Financial asset - Policy applicable starting January 1, 2018 Financial assets are not reclassified subsequent to their initial recognition, except in the period after Grupo Aval’s entities changes its business model for managing financial assets. Financial asset - Policy applicable until December 31, 2017 Subsequent to their initial classification, financial assets shall not be reclassified to other categories, except for special circumstances. In the event of such circumstances, transfers were accounted for as follows: · From the category “fair value through profit or loss” to other categories: assets were recognized at their fair value. · From available-for-sale to held-to-maturity investment: the fair value amount recognized immediately before the reclassification to held-to-maturity category became the basis for the amortized cost. In reclassification of an asset with a fixed maturity, any gain or loss previously recognized in other comprehensive income (OCI) and the difference between the newly established amortized cost and the maturity amount were both amortized over the remaining term of the financial asset using the effective interest rate method. However, any gain or loss previously recognized in other comprehensive income were immediately reclassified from equity to profit or loss if the asset is subsequently impaired. For a financial asset with no stated maturity, any gain or loss previously recognized in other comprehensive income were reclassified from equity to profit or loss when the financial asset is disposed of or impaired. · From held-to-maturity investment to available-for-sale: the difference between the amortized cost and fair value as of the reclassification date were recognized in other comprehensive income. iv. Derecognition Financial assets Grupo Aval derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire (see also (v)), or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which Grupo Aval neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. On derecognition of a financial asset, the difference between the carrying amount of the asset (or the carrying amount allocated to the portion of the asset derecognized) and the sum of (i) the consideration received (including any new asset obtained less any new liability assumed) and (ii) any cumulative gain or loss that had been recognized in OCI is recognized in profit or loss. From 1 January 2018 any cumulative gain/loss recognized in OCI in respect of equity investment securities designated as at FVOCI is not recognized in profit or loss on derecognition of such securities, as explained in (2.11). Any interest in transferred financial assets that qualify for derecognition that is created or retained by Group Aval is recognized as a separate asset or liability. Grupo Aval enters into transactions whereby it transfers assets recognized on its statement of financial position but retains either all or substantially all of the risks and rewards of the transferred assets or a portion of them. In such cases, the transferred assets are not derecognized. Examples of such transactions are securities lending and sale-and-repurchase transactions. When assets are sold to a third party with a concurrent total rate of return swap on the transferred assets, the transaction is accounted for as a secured financing transaction similar to sale-and repurchase transactions, because Grupo Aval retains all or substantially all of the risks and rewards of ownership of such assets. In transactions in which Grupo Aval neither retains nor transfers substantially all of the risks and rewards of ownership of a financial asset and it retains control over the asset, Grupo Aval continues to recognize the asset to the extent of its continuing involvement, determined by the extent to which it is exposed to changes in the value of the transferred asset. In certain transactions, Grupo Aval retains the obligation to service the transferred financial asset for a fee. The transferred asset is derecognized if it meets the derecognition criteria. An asset or liability is recognized for the servicing contract if the servicing fee is more than adequate (asset) or is less than adequate (liability) for performing the servicing. Financial liabilities Grupo Aval derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. v. Modifications of financial assets and financial liabilities Financial assets Policy applicable starting January 1, 2018 If the terms of a financial asset are modified, then Grupo Aval assesses whether the cash flows of the modified asset are substantially different. If the cash flows are substantially different, then the contractual rights to cash flows from the original financial asset are deemed to have expired. In this case, the original financial asset is derecognized (see (iv)) and a new financial asset is recognized at fair value plus any eligible transaction costs. Any fees received as part of the modification are accounted for as follows: · Fees that are considered in determining the fair value of the new asset and fees that represent reimbursement of eligible transaction costs are included in the initial measurement of the asset; and · Other fees are included in profit or loss as part of the gain or loss on derecognition. If cash flows are modified when the borrower is in financial difficulties, then the objective of the modification is usually to maximize recovery of the original contractual terms rather than to originate a new asset with substantially different terms. If Group Aval plans to modify a financial asset in a way that would result in foregoing of cash flows, then it first considers whether a portion of the asset should be written off before the modification takes place (see below for write ‑ off policy). This approach impacts the result of the quantitative evaluation and means that the derecognition criteria are not usually met in such cases. If the modification of a financial asset measured at amortized cost or FVOCI does not result in derecognition of the financial asset, then Grupo Aval first recalculates the gross carrying amount of the financial asset using the original effective interest rate of the asset and recognizes the resulting adjustment as a recovery or impairment through in the Consolidated Statement of Income. For floating-rate financial assets, the original effective interest rate used to calculate the modification gain or loss is adjusted to reflect current market terms at the time of the modification. Any costs or fees incurred, and fees received as part of the modification adjust the gross carrying amount of the modified financial asset and are amortized over the remaining term of the modified financial asset. Policy applicable until December 31, 2017 Troubled debt restructured loans were those that had collection problems in which Grupo Aval granted the debtor a modification that it would not otherwise consider. These modifications generally involved interest rate reductions, extension of deadlines for payment or reductions in the balance due to a troubled debt loan. If the terms of a financial asset were renegotiated or modified or an existing financial asset were replaced with a new one due to financial difficulties of the borrower, then an assessment were performed of whether the financial asset should be derecognized. If the cash flows of the renegotiated asset were substantially different, then the contractual rights to cash flows from the original financial asset were deemed to have expired. In this case, the original financial asset was derecognized, and the new financial asset was recognized at fair value. The impairment loss before an expected restructuring was measured as follows. · If the expected restructuring not resulted in derecognition of the existing asset, then the estimated cash flows arising from the modified financial asset were included in the measurement of the existing asset and based on their expected timing and amounts were discounted at the original effective interest rate of the existing financial asset. · If the expected restructuring not resulted in derecognition of the existing asset, then the expected fair value of the new asset was treated as the final cash flow from the existing financial asset at the time of its derecognition. This amount was discounted from the expected date of derecognition to the reporting date using the original effective interest rate of the existing financial asset. Financial liabilities Grupo Aval derecognizes a financial liability when its terms are modified, and the cash flows of the modified liability are substantially different. In this case, a new financial liability based on the modified terms is recognized at fair value. The difference between the carrying amount of the financial liability extinguished and the new financial liability with modified terms is recognized in the Consolidated Statement of Income. If the modification of a financial liability measured at amortized does not result in derecognition of the financial liability, then Grupo Aval first recalculates the gross carrying amount of the financial liability using the original effective interest rate of the liability and recognizes the resulting adjustment as interest expense through in the Consolidated Statement of Income. For floating-rate financial assets, the original effective interest rate used to calculate the modification gain or loss is adjusted to reflect current market terms at the time of the modification. Any costs or fees incurred, and fees received as part of the modification adjust the gross carrying amount of the modified financial liability and are amortized over the remaining term of the modified financial liability. vi. Offsetting Financial assets and liabilities are offset, and the net amount is recognized in the consolidated statement of financial position, when there is a legally enforceable right to offset recognized amounts and management intends to settle them on a net basis or to realize the asset and settle the liability simultaneously. Income and expenses are presented on a net basis only when permitted under IFRS, or for gains and losses arising from a group of similar transactions such as in Grupo Aval’s trading activity. vii. Fair value measurement ‘Fair value’ is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or, in its absence, the most advantageous market to which Grupo Aval has access at that date. When one is available, Grupo Aval measures the fair value of an instrument using the quoted price in an active market for that instrument. A market is regarded as active if transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. If there is no quoted price in an active market, then Grupo Aval uses valuation techniques that maximize the use of relevant observable inputs and minimize the use of unobservable inputs. The chosen valuation technique incorporates all of the factors that market participants would take into account in pricing a transaction. The best evidence of the fair value of a financial instrument on initial recognition is normally the transaction price – i.e. the fair value of the consideration given or received. If Grupo Aval determines that the fair value on initial recognition differs from the transaction price and the fair value is evidenced neither by a quoted price in an active market for an identical asset or liability nor based on a valuation technique for which any unobservable inputs are judged to be insignificant in relation to the measurement, then the financial instrument is initially measured at fair value, adjusted to defer the difference between the fair value on initial recognition and the transaction price. Subsequently, that difference is recognized the Consolidated Statement of Income on an appropriate basis over the life of the instrument but no later than when the valuation is wholly supported by observable market data or the transaction is closed out. Portfolios of financial assets and financial liabilities that are exposed to market risk and credit risk that are managed by Grupo Aval on the basis of the net exposure to either market or credit risk are measured on the basis of a price that would be received to sell a net long position (or paid to transfer a net short position) for the particular risk exposure. Portfolio-level adjustments – e.g. bid-ask adjustment or credit risk adjustments that reflect the measurement on the basis of the net exposure – are allocated to the individual assets and liabilities on the basis of the relative risk adjustment of each of the individual instruments in the portfolio. The fair value of a financial liability with a demand feature (e.g. a demand deposit) is not less than the amount payable on demand, discounted from the first date on which the amount could be required to be paid. Grupo Aval recognizes transfers between levels of the fair value hierarchy as of the end of the reporting period during which the change has occurred. See Note 5. viii. Repurchase agreements and reverse repurchase agreements Purchases of financial instruments under a non-optional resale agreement are measured at fair value and recognized as financial assets in the consolidated statement of financial position under loans and receivables to credit institutions. The excess of the purchase prices over the resale prices is recognized as interest income over the contractual term. Sales of financial instruments under a non-optional repurchase agreement are measured at fair value and recognized as liabilities in the consolidated statement of financial position under Deposits from the Central Bank – Repurchase agreements, Deposits from credit institutions – Repurchase agreements or Customer deposits – Repurchase agreements. The excess of the sales prices over the repurchase prices is recognized as interest expense over the contractual term. After January 1, 2018, retained interests (i.e. the assets that collateralize the repurchase agreements) are primarily classified as fair value through OCI and measured at fair value. Until December 31, 2017, retained interests were primarily classified as available-for-sale investment securities and measured at fair value. ix. Impairment of financial assets Policy applicable starting January 1, 2018 Grupo Aval recognizes loss allowances for Expected Credit Losses – “ECL” on the following financial instruments that are not measured at FVTPL: · Debt instruments; · Loans and lease receivables; · Financial guarantee contracts issued; · Loan commitments issued, and · Other accounts receivable No credit impairment loss is recognized on equity investments. Grupo Aval measures loss allowances at an amount equal to lifetime ECL (Stage 2 and stage 3), except for the following, for which they are measured as 12‑month ECL (Stage 1): · Debt investment securities that are determined to have low credit risk at the reporting date; and · Other financial instruments (other than loans and lease receivables) on which credit risk has not increased significantly – “SICR” from their initial recognition. A financial asset is classified as a low credit risk asset if the issuer is related to an investment grade credit rating. 12‑month ECL are the portion of ECL that result from default events on a financial instrument that are possible within the 12 months after the reporting date. Measurement of ECL Measurement of ECL is described in Note 4(4.1.5 Amounts arising from ECL). Modified Financial Assets If the terms of a financial asset are renegotiated or modified or an existing financial asset is replaced with a new one due to financial difficulties of the borrower, then an assessment is made of whether the financial asset should be derecognized (see (iv)) and ECL are measured as follows. · If the restructuring is not expected to result in derecognition of the existing asset, then the expected cash flows arising from the modified financial asset are included in calculating the cash shortfalls from the existing asset (see Note 4(4.1.1)). · If the restructuring is expected to result in derecognition of the existing asset, then the expected fair value of the new asset is treated as the final cash flow from the existing financial asset at the time of its derecognition. This amount is included in calculating the cash shortfalls from the existing financial asset that are discounted from the expected date of derecognition to the reporting date using the original effective interest rate of the existing financial asset. Credit-impaired financial assets At each reporting date, Grupo Aval assesses whether financial assets carried at amortized cost and debt financial assets carried at FVOCI are credit-impaired. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Evidence that a financial asset is credit-impaired includes the following observable data: · Significant financial difficulty of the borrower or issuer; · A breach of contract such as a default or past due event; · The restructuring of a loan or advance by Grupo Aval on terms that Grupo Aval’ entities would not consider otherwise; · It is becoming probable that the borrower will enter bankruptcy or other financial reorganization; or · The disappearance of an active market for a security because of financial difficulties. A loan that has been renegotiated due to a deterioration in the borrower’s condition is usually considered to be credit-impaired unless there is evidence that the risk of not receiving contractual cash flows has reduced significantly and there are no other indicators of impairment. In addition, a loan that is overdue for 90 days (for mortgage is overdue for 180 days) or more is considered impaired. In making an assessment of whether an investment in sovereign debt is credit-impaired, Grupo Aval considers the following factors. · The market’s assessment of creditworthiness as reflected in the bond yields. · The rating agencies’ assessments of creditworthiness. · The country’s ability to access the capital markets for new debt issuance. · The probability of debt being restructured, resulting in holders suffering losses through voluntary or mandatory debt forgiveness; and · The international support mechanisms in place to provide the necessary support as ‘lender of last resort’ to that country, as well as the intention, reflected in public statements, of governments and agencies to use those mechanisms. This includes an assessment of the depth of those mechanisms and, irrespective of the political intent, whether there is the capacity to fulfil the required criteria. Presentation of allowance for ECL in the statement of financial position Loss allowances for ECL are presented in the statement of financial position as follows: · Financial assets measured at amortized cost: as a deduction from the gross carrying amount of the assets; · Loan commitments and financial guarantee contracts: generally, as “other provisions”; · Where a financial instrument includes both a drawn and an undrawn component, and Grupo Aval cannot identify the ECL on the loan commitment component separately from those on the drawn component: Grupo Aval presents a combined loss allowance for both components. The combined amount is presented as a deduction from the gross carrying amount of the drawn component. Any excess of the loss allowance over the gross amount of the drawn component is presented as an “other provision”; and · Debt instruments measured at FVOCI: no loss allowance is recognized in the statement of financial position because the carrying amount of these assets is their fair value. However, the loss allowance is disclosed and is recognized as part of the net movement recognized in the fair value reserve. Write-off Loans and debt securities are written off (either partially or in full) when there is no realistic prospect of recovery. This is generally the case when Grupo Aval determines that the borrower does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. Recoveries of amounts previously written off are included in “impairment losses (recoveries) on financial assets” in the Consolidated Statement of Income. Financial assets that are written off could still be subject to enforcement activities in order to comply with the Grupo Aval’s procedures for recovery of amounts due. The contractual amount outstanding on the financial assets that were written off during the reporting period are disclosed in note 4.1.5 Amounts arising from ECL; Loss Allowance reconciliation tables. Policy applicable until December 31, 2017 Grupo Aval assessed whether there was objective evidence that a financial asset or a group of financial assets were impaired depending on their classification. For financial assets measured at amortized cost, objective evidence included: significant financial difficulties of the borrower, default or delinquency by a borrower, restructuring of a loan or advance on terms that Grupo Aval would not have considered otherwise, indications that a borrower or issuer would entered bankruptcy, disappearance of an active market for a security or observable data relating to a group of assets such as adverse changes in the payment status of borrowers or issuers in Grupo Aval, or economic conditions that correlated with defaults. If there was objective evidence of impairment, impairment was recognized in profit or loss. The amount of the allowance was determined as follows: · Grupo Aval performed an individual assessment of significant financial assets classified as held until maturity and loans and receivables, analyzing the debt profile of each debtor, the guarantees granted, and information provided by credit risk agencies. Financial assets were deemed impaired when based on information and current and past events it was likely that Grupo Aval may not collect all the amounts due in the original contract, including interest and fees. If a financial asset had been identified as impaired, the amount of the loss was measured as the difference between the carrying amount of the financial asset and the present value of the future cash flows expected pursuant to the debtor’s conditions, discounted at the original effective interest rate, or the present value of the collateral guarantee covering the asset, less the estimated costs of sale when it was determined that the most important source of collection of the loan was such guarantee. · For those financial assets which were not deemed individually as significant and for individually significant financial asset portfolios which were not determined as impaired after the individual assessment described above, Grupo Aval carried out a collective assessment of impairment. For this purpose, financial assets were grouped together into segments with similar characteristics, using statistical assessment techniques based on an analysis of historical losses to determine an estimated percentage of losses which could have been incurred in such assets as of the date of the reporting, but that had not been identified on an individual basis (See Note 4 for further details regarding the calculation of the collective allowance). · Once an allowance was recorded for a financial asset or a group of similar financial assets, due to an impairment loss, interest income of the loan continued to be recognized using the same effective interest rate applied to the carrying value of the loan. Impaired financial assets were written-off from the consolidated statement of financial position when the recovery of any recognized amount was considered
Description of accounting policy for restricted cash and cash equivalents [text block]	2.7 Cash and cash equivalents Cash and cash equivalents include cash, bank deposits, and other short-term investments with original maturities of three months or less from the date of their acquisition that are subject to an insignificant risk of changes in their fair value and are used by Grupo Aval in the management of its short-term commitments.
Description Of Accounting Policy For Trading Assets And Liabilities [Text Block]	2.8 Trading assets and liabilities ‘Trading assets and liabilities’ are those assets and liabilities that Grupo Aval acquires or incurs principally for the purpose of selling or repurchasing in the near term or holds as part of a portfolio that is managed together for short-term profit or position taking. Trading assets and liabilities are initially recognized and subsequently measured at fair value in the Statement of Financial Position, with transaction costs recognized in Statement of Income. All changes in fair value are recognized as part of net trading income in Statement of Income.
Description of accounting policy for derivative financial instruments and hedging [text block]	2.9 Derivatives a) Derivative financial instruments and hedge accounting A derivative is a financial instrument in which value changes respond to changes in one or more variables denominated as an “underlying” (a specific interest rate, the price of a financial instrument, a listed commodity, a foreign currency exchange rate, etc.), that has an initial net investment smaller than would be required for other instruments that have a similar response to the mentioned variable and that is settled in a future date. Grupo Aval trades in financial markets, forward contracts, future contracts, swaps and options that fulfil the definition of a derivative. Financial assets and liabilities from transactions with derivatives are generally not offset in the consolidated statement of financial position. However, when there is a legal and exercisable right to offset the recognized values and Grupo Aval intends to be settle them on a net basis or to realize the assets and settle the liability simultaneously, derivatives are presented as net values in the consolidated statement of financial position. Derivative transactions are initially recognized at fair value. Subsequent changes in the fair value are recognized in profit or loss, unless the derivative instrument is designated as a hedging instrument and, in this case, the accounting criteria will depend on the nature of the hedged item, as described below. At the beginning of the hedging transaction, Grupo Aval formally documents the relationship existing between the hedging instrument and the hedged item, including the risk management objective and strategy in undertaking the hedging relationship. It also documents its assessment, both initially as well as on a recurring basis, of whether the hedging relationship is highly effective in offsetting the changes in fair value or cash flows of the hedged items. (i) For fair value hedge of assets or liabilities and firm commitments, changes in the fair value of the derivative instrument are recognized in profit or loss, as well as any other change in the fair value of the asset, liability or firm commitment attributable to the hedge risk, (ii) For cash flow hedge of a particular risk associated with a recognized asset or liability or a projected highly probable transaction, the effective portion of changes in the fair value of the derivative is recognized in other comprehensive income. The gain or loss relating to the portion that is not effective for hedging or that does not relate to the hedged risk is immediately recognized in profit or loss. The values accumulated in other comprehensive income are transferred to profit or loss in the same period in which the hedged item is recognized in profit or loss. (iii) Hedging of net investments in a foreign operation is recognized similarly to cash flow hedging: the effective portion of changes in fair value of the hedging instrument is recognized in other comprehensive income, and the ineffective portion of the changes in fair value of the derivative is recognized in profit or loss. The hedging instrument’s gains or losses accumulated in equity will be recognized in profit or loss when the net investment in foreign operations is sold in whole or proportionally, if partially disposed of. b) Embedded derivatives Policy applicable starting January 1, 2018 Derivatives may be embedded in another contractual arrangement (a host contract). Grupo Aval accounts for an embedded derivative separately from the host contract when: · The host contract is not an asset in the scope of IFRS 9; · The host contract is not itself carried at FVTPL; · The terms of the embedded derivative would meet the definition of a derivative if they were contained in a separate contract; and · The economic characteristics and risks of the embedded derivative are not closely related to the economic characteristics and risks of the host contract. Separated embedded derivatives are measured at fair value, with all changes in fair value recognized in profit or loss unless they form part of a qualifying cash flow or net investment hedging relationship. Separated embedded derivatives are presented in the statement of financial position together with the host contract. Policy applicable until December 31, 2017 Derivatives may be embedded in another contractual arrangement (a host contract). Grupo Aval accounted for an embedded derivative separately from the host contract when: · The host contract was not itself carried at FVTPL; · The terms of the embedded derivative would have met the definition of a derivative if they were contained in a separate contract; and · The economic characteristics and risks of the embedded derivative were not closely related to the economic characteristics and risks of the host contract. Separated embedded derivatives were measured at fair value, with all changes in fair value recognized in profit or loss unless they formed part of a qualifying cash flow or net investment hedging relationship. Separated embedded derivatives were presented in the statement of financial position together with the host contract.
Description of accounting policy for loans and receivables [text block]	2.10 Loans Policy applicable starting January 1, 2018 ‘Loans’ captions in the statement of financial position include: · Loans measured at amortized cost (see 2.5(ii)); they are initially measured at fair value plus incremental direct transaction costs, and subsequently at their amortized cost using the effective interest method; · Finance lease receivables. When Grupo Aval purchases a financial asset and simultaneously enters into an agreement to resell the asset (or a substantially similar asset) at a fixed price on a future date (reverse repo or stock borrowing), the arrangement is accounted for as a loan, and the underlying asset is not recognized in the Grupo Aval’s financial statements. Policy applicable until December 31, 2017 ‘Loans and advances’ were non-derivative financial assets with fixed or determinable payments that were not quoted in an active market and that Grupo Aval did not intend to sell immediately or in the near term. Loans and advances included: · Loans and advances to customers, those classified as loans and receivables; · Loans and advances to banks, those classified as loans and receivables; · Finance lease receivables. Loans and receivables were measured at their amortized cost, calculated based on the effective interest rate method, less any impairment. The effective interest rate method was a method of calculating the amortized cost of a financial asset and allocating the interest income or expense over the relevant period. The effective interest rate was the rate that discounts future cash payments or receipts (without consideration of future credit losses, over the expected life of the financial instrument) to the net carrying amount of the financial asset at initial recognition. In the process of calculating the effective interest rate, Grupo Aval estimated the cash flows considering the contractual terms including prepayment expectations of the financial instrument for portfolios with high prepayment levels, except for future credit losses and considering the initial fair value plus transaction costs and premiums granted, minus commissions and discounts received which form integral part of the effective rate.
Description of accounting policy for investment in associates and joint ventures [text block]	2.11 Investment securities Policy applicable starting January 1, 2018 The ‘investment securities’ line in the statement of financial position includes: · Debt investment securities measured at amortized cost (see 2.6(ii)); These are initially measured at fair value plus incremental direct transaction costs, and subsequently at their amortized cost using the effective interest method; · Debt and equity investment securities mandatorily measured at FVTPL (see 2.6(ii)); These are at fair value with changes recognized immediately in profit or loss; · Debt securities measured at FVOCI; and · Equity investment securities designated as at FVOCI. For debt securities measured at FVOCI, gains and losses are recognized in OCI, except for the following, which are recognized in profit or loss in the same manner as for financial assets measured at amortized cost: · Interest revenue using the effective interest method; · ECL and reversals; and · Foreign exchange gains and losses. When debt security measured at FVOCI is derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity the Consolidated Statement of Income. Grupo Aval elects to present in OCI changes in the fair value of certain investments in equity instruments that are not held for trading. The election is made on an instrument-by-instrument basis on initial recognition and is irrevocable. Gains and losses on such equity instruments are never reclassified to profit or loss and no impairment is recognized in profit or loss. Dividends are recognized in profit or loss unless they clearly represent a recovery of part of the cost of the investment, in which case they are recognized in OCI. Cumulative gains and losses recognized in OCI are transferred to retained earnings upon disposal of an investment. Policy applicable until December 31, 2017 a) Initial measurement Grupo Aval initially recognized loans and receivables, on the date on which they are originated. All other financial instruments (including regular-way purchases and sales of financial assets) were recognized on the trade date, which is the date on which Grupo Aval becomes a party to the contractual provisions of the instrument. Financial assets that were not measured at fair value through profit or loss were initially measured at fair value plus any directly attributable transaction costs. b) Subsequent measurement Subsequent to initial recognition, financial assets were measured as follows: · At fair value through profit or loss: were measured daily at their fair value with changes recognized in profit or loss. · Held-to-maturity investments: were measured at their amortized cost, calculated based on the effective interest rate method, less any impairment. · Available-for-sale: · Debt instruments were initially recognized at fair value. The effective interest rate method was used in order to calculate the amortized cost of the instrument to determine interest income that were recognized in the Consolidated Statement of Income. Any changes in fair value were recognized in Other Comprehensive Income (OCI). Impairment losses and foreign exchange gains and losses on available-for-sale debt instruments were excluded from the fair value gains and losses recognized in other comprehensive income and were recognized in profit or loss as incurred. · Available-for-sale equity instruments were recognized at fair value, with gains or losses recognized in other comprehensive income. Dividends received from such instruments were recognized in profit or loss when Grupo Aval become entitled to receive the payment and impairment losses were recognized in the Consolidated Statement of Income. When available-for-sale financial assets were sold, the accumulated values in other comprehensive income were reclassified to the Consolidated Statement of Income. When available-for-sale financial assets were sold, the accumulated values in other comprehensive income are reclassified to the Consolidated Statement of Income.
Description of accounting policy for financial liabilities [text block]	2.12 Financial liabilities A financial liability is any contractual liability of Grupo Aval to deliver cash or other financial asset to another entity or person, or to exchange financial assets or financial liabilities under potentially unfavorable conditions for Grupo Aval, or a contract which will be terminated or could be settled using equity instruments owned by the entity. Financial liabilities are initially recognized based on their fair value, which is usually equal to the transaction value less directly attributable costs. Subsequently, such financial liabilities are measured at their amortized cost according to the effective interest rate method determined at initial recognition and recognized in profit or loss.
DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory [text block]	2.13 Financial guarantees Financial guarantees are those contracts requiring that the issuer carries out specific payments to reimburse the creditor for losses incurred when a specific debtor defaults its payment obligation, in accordance with the original or modified conditions, of a debt instrument; regardless of its legal form. Financial guarantees issued or commitments to provide a loan at a below-market interest rate are initially measured at fair value. Subsequently, they are measured as follows: · Starting January 1, 2018: at the higher of the loss allowance determined in accordance with IFRS 9 (see 2.6 (vii)) and the amount initially recognized less, when appropriate, the cumulative amount of income recognized in accordance with the principles of IFRS 15; and · Until December 31, 2017: at the higher of the amount representing the initial fair value amortized over the life of the guarantee or the commitment and the present value of any expected payment to settle the liability when a payment under the contract has become probable. Grupo Aval has issued no loan commitments that are measured at FVTPL. The provisions established over financial guarantee agreements under IFRS 9, are recognized as liabilities under “Provisions – other provisions” and recognized in profit or loss, see note 2.6 ix “Presentation of allowance for ECL in the statement of financial position”.
Description of accounting policy for non-current assets or disposal groups classified as held for sale and discontinued operations [text block]	2.14 Non-current assets held for sale Foreclosed assets and non-current assets held for sale, which Grupo Aval intends to sell in a period of less than one year, and it is considered highly probable that their value will be recovered primarily through sale rather than through continuing use, are recognized as "non-current assets held for sale". These assets are measured at the lower of their carrying value at the time of transfer and fair value, less estimated disposal costs.
Description of accounting policy for property, plant and equipment [text block]	2.15 Property, plant and equipment for own use Property, plant and equipment include the assets, owned or under financial leases held by Grupo Aval for current or future use and which expects to be used for more than one period. They are recognized in the consolidated statement of financial position at their acquisition or construction cost, less the corresponding accumulated depreciation and, if applicable, the estimated impairment losses resulting from comparing the carrying amount of each asset with its recoverable value. Depreciation is calculated by applying the straight-line method over the acquisition cost of the assets, less any residual value; land is not depreciated. Depreciation is estimated on a straight-line basis during the estimated useful life of the asset. The annual depreciation rates for each item of assets are: Asset Useful Life Own use buildings According to appraisals without exceeding 70 years Equipment, furniture and accessories From 3 to 10 years Machinery and equipment From 5 to 25 years Computer equipment From 3 to 12 years Vehicles From 5 to 10 years Bearer plants From 25 to 35 years Conservation and maintenance expense is recognized when incurred as “Administrative Expense”. According to the changes in accounting policies discussed below, the biological assets that meet the definition of bearer plants are accounted for as property, plant and equipment. A bearer plant is a live plant that meets the following requirements: a) It is used for the manufacturing or supply of agricultural products; b) It is expected to produce for more than one period; and c) It has a remote probability of being sold as an agricultural product, except for irregular sales related to thinning and trimming. Bearer plants that are under the set-up and growing phase are subject to a biological transformation which are reflected through cost accumulation until they reach their maturity level. In the case of the African oil palm maturity is reached in the second year, while for rubber maturity is reached in the seventh year. After reaching their maturity bearer plants are considered developed and the future economic benefits arise from the sale of the fruit produced during the life of the plant. Bearer plants are measured at their cost less accumulated depreciation and any impairment losses. The useful life is equal to the plants´ production periods. The useful life of the rubber plant is 35 years while the useful life of the African oil palm is 25 years. The depreciation method used is the estimated production units as it accurately reflects the use of the assets. If the bearer plant is sold for timber at the end of the useful life the value received is considered the residual value of the asset.
Description of accounting policy for investment property [text block]	2.16 Investment properties Land and buildings, considered in whole or in part, that are held to earn rental income or for capital appreciation, rather than for own use or sale in the ordinary course of business. Investment properties are recognized initially at cost, including all costs associated with the transaction, and subsequently measured at fair value, with changes in fair value recognized in profit or loss.
Description of accounting policy for leases [text block]	2.17 Leases – Lessor accounting Leases are classified as a financial or operating lease. A lease is classified as a financial lease when it substantially transfers all the risks and rewards inherent to the property. A lease is classified as operating if it does not substantially transfer all the risks and rewards inherent to the property. Lease contracts classified as financial leases are included in the consolidated statement of financial position as “Loans” and are recognized in the same way as other loans, as explained in note 2.6 and note 2.10 above. Lease contracts classified as operating lease continue to be classified as property, plant and equipment or investment property in Grupo Aval and are recognized and depreciated in the same manner as property and equipment of its own use. Revenues from payments are recognized in profit or loss of the period using the straight-line accrual method.
Description Of Accounting Policy For Lessee Explanatory [Text Block]	2.18 Leases - Lessee accounting Up on initial recognition, leases are classified as financial or operating leases, in the same way as described above. Lease agreements classified as financial leases are included in the consolidated statement of financial position as property, plant and equipment or as investment properties, in accordance with the intention of Grupo Aval in relation to the asset and are initially recognized in assets and in liabilities simultaneously for an amount equal to the lesser of the fair value of the leased asset or the present value of the minimum lease payments. The present value of the minimum lease payments is established by using the implicit interest rate in the lease contract, or if such rate is not determinable, the average interest rate of the bonds placed by Grupo Aval in the market. Any initial direct cost of the lessee is added to the recognized asset amount. After initial recognition, these assets are accounted for in the same manner as other property, plant and equipment or investment properties. The value recognized as a liability is included as a financial liability. Payments under lease contracts classified as operating are recognized on a straight-line basis in profit or loss over the lease term. Incentives received from leasing are recognized as an integral part of the total lease payments during its term. On January 1, 2019, Grupo Aval will adopt the IFRS 16 standard that significantly changes the lessee accounting. See note 2.33 for further details.
Description of accounting policy for biological assets [text block]	2.19 Biological assets Biological assets, including those growing in the bearer plants, are recognized both at the time of their initial recognition and at the end of reporting period at fair value less disposal cost, except for biological assets for which their fair value cannot be measured reliably; in such case they are measured at cost less accumulated depreciation and impairment loss. Gains and losses arising from the initial and subsequent recognition at fair value of the agricultural products are included in the Consolidated Statement of Income. Costs incurred in the agricultural production process are also recognized directly in the Consolidated Statement of Income. Fair value of biological assets is determined using valuations performed by experienced internal professionals, using discounted cash flow models. The expected cash flows of the crop’s total life are determined by using the market price of the agricultural product currently in effect and the estimated productive life of plants, net of maintenance and harvest costs and of any other costs required for plant maintenance during the production period. Productive life of plants is estimated considering the age, location and type of product. Fair value of the biological assets is dependent on current market prices for each product.
Description of accounting policy for business combinations and goodwill [text block]	2.20 Business combinations and goodwill Business combinations are accounted for by using the “acquisition method” when control is transferred to the controlling entity. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired. Any goodwill that arises is tested annually for impairment. If there is non-controlling interests arise during the acquisition of control of the entity, such non-controlling interests is recognized at either fair value or at the proportionate interest in the recognized amount of the identifiable net assets of the acquiree. This election is decided in each transaction. Goodwill is measured as the excess of the aggregate of consideration transferred, over the amount of any interest previously acquired and the net of identifiable assets and liabilities assumed at acquisition date. Goodwill acquired in a business combination is assigned to each of the groups of cash-generating units from which a benefit is expected as a consequence of the acquisition. Goodwill is not subsequently amortized but is subject to an annual assessment of impairment of the cash-generating unit to which goodwill has been assigned, from which benefits are expected deriving from the synergies of business combinations. A loss due to impairment recognized on Goodwill cannot be reversed in subsequent periods. In addition, statement of income of the acquiree is included in Grupo Aval´s consolidated financial statements from the acquisition date.
Description of accounting policy for intangible assets other than goodwill [text block]	2.21 Other intangibles assets Other intangible assets mainly comprise software and licenses, which are initially measured at the cost of acquisition or cost of development. Costs incurred during the research phase are expensed as incurred. Development expenses which are directly attributable to design and performance tests of software and identifiable, unique and controlled by Grupo Aval are recognized as intangible assets, when the following conditions are met: · Technically, it is possible to complete the intangible asset production, so it can be available for use; · Management intends to complete the corresponding intangible asset for use; · Grupo Aval has the capacity of using the intangible asset; · It is probable that future economic benefits that are attributable to the asset will flow to the entity; · There is availability of adequate technical or financial resources or other type, for completion and usage of the intangible asset; and · Costs attributable to intangible asset during its development phase can be estimated and measured in a reliable manner. Costs that are directly attributable and capitalized as part of intangible assets include personnel expense directly related to developing such programs and an adequate percent of overhead expense. Expenses that do not satisfy these criteria are recognized as incurred expenses. Disbursements over intangible assets are initially recognized as expenses of the period and they will not be subsequently recognized as intangible assets. Subsequent to their initial recognition, these assets are measured at cost less amortization, which is carried out during its estimated useful life as follows: software amortization is recognized on a straight-line basis, according to the estimated useful lives. At the end of each fiscal year, Grupo Aval analyzes if there is evidence based on each CGU (Cash Generating Unit), both external and internal, indicating that the intangible asset is impaired. Any loss due to subsequent impairment or reversals are recognized in the Consolidated Statement of Income; such impairment is determined by the excess of carrying amount over recoverable value.
Description of accounting policy for service concession arrangements [text block]	2.22 Concession arrangements rights Concession contracts, between certain subsidiaries of Grupo Aval and the Colombian Government and other entities for the construction or maintenance of infrastructure during a specific period, in which those entities receive income during the life of the contract, whether through direct payments from the Government or through tolls or fees charged to the users, are recognized as financial assets or intangible assets. A financial asset is recognized when pursuant to the contractual conditions, the contractor is entitled to an unconditional contractual right of receiving from the grantor entity or from the Colombian Government, cash or other financial assets due to construction services or when the Government guarantees minimum income from tolls or fees charged to the users of the concession work during the term of the concession agreement. An intangible asset is recognized when the Grupo Aval subsidiary in the concession contract does not have an unconditional right to receive cash and it has a right to charge for the use of the concession infrastructure. In some cases, contracts can contain both financial and intangible assets. Concession arrangements are recognized as follows: (a) During the construction stage of assets under concession, all estimated income for construction and upgrade services and costs associated to construction are recognized in the Consolidated Statement of Income based on the stage of completion of the work performed. Any additional expected loss is recognized as an expense. (b) If all or part the concession agreement is classified as a financial asset, it is recognized within other accounts receivable, net line item in the consolidated statement of financial position, initially at fair value and subsequently at amortized cost, with the exception of concession agreements in Promigas’ subsidiaries which due to the condition of the contracts, are measured as mandatory FVTPL. (c) If all or part the concession agreement is classified as an intangible asset, the considerations for providing construction or upgrade services are measured at fair value on initial recognition with reference to the fair value of the services provided. The fair value is the cost of the intangible assets which is subsequently amortized to profit or loss during the term of the contract. Any income received as tolls or fees before completion of the construction stage is deferred and amortized, to profit or loss during the term of the contract, starting on the date in which the asset is placed into use. Income received from tolls or fees upon construction completion and available for public service is recognized as income when effectively received.
Description of accounting policy for impairment of non-financial assets [text block]	2.23 Impairment of non-financial assets At each reporting date, Grupo Aval reviews the carrying amounts of its non-financial assets (other than investment properties and deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. Goodwill is tested annually for impairment. For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that is largely independent of the cash inflows of other assets or Cash Generating Units (CGU). Goodwill arising from a business combination is allocated to CGUs or groups of CGUs that are expected to benefit from the synergies of the combination. The ‘recoverable amount’ of an asset or CGU is the greater of its value in use and its fair value less costs to sell. ‘Value in use’ is based on the estimated future cash flows, discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. An impairment loss is recognized if the carrying amount of an asset or CGU exceeds its recoverable amount. Grupo Aval´s corporate assets do not generate separate cash inflows and are used by more than one CGU. Corporate assets are allocated to CGUs on a reasonable and consistent basis and tested for impairment as part of the testing of the CGUs to which the corporate assets are allocated. Impairment losses are recognized in profit or loss. They are allocated first to reduce the carrying amount of any goodwill allocated to the CGU, and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis. An impairment loss of goodwill cannot be reversed. For other assets, an impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized.
Description of accounting policy for employee benefits [text block]	2.24 Employee Benefits Grupo Aval entities provide the following benefits to employees in exchange of services rendered to the Grupo Aval: a) Short-term employee benefits Pursuant to Colombian labor rules, such benefits are comprised of salaries, premiums, vacations, severance payments and payroll tax contributions to the Colombian Government agencies which are paid within 12 months following the end of the period. Such benefits are recognized on an accrual basis and recognized in profit or loss. b) Post-employment benefits (defined benefit plans) These are benefits that Grupo Aval pays to its employees when they retire or upon completion of their employment period, other than indemnities. According to Colombian labor rules, such benefits are retirement pensions which are directly assumed by Grupo Aval’s entities, pending severance payments to employees belonging to the labor regime prior to Law 50 1990 and certain extra-legal benefits or agreed in collective labor conventions. Post-employment benefits liabilities are determined based on present value of estimated future payments, calculated based on actuarial assessments based on the projected unit of credit method, and applying actuarial assumptions about mortality rate, increase of salaries and personnel turnover, and interest rates determined with reference to bond market returns of Colombian Government’ bonds or high-quality business liabilities in effect at the reporting date. Under the projected unit of credit method, future benefits to be paid to employees are assigned to each accounting period in which the employee renders the service. Therefore, the corresponding expense due to these benefits recognized in profit or loss of Grupo Aval includes the present service cost assigned in the actuarial calculation plus the financial cost of calculated liabilities. Changes in liabilities due to changes in actuarial assumptions are recognized in Other Comprehensive Income. Changes in actuarial liabilities due to changes in employment benefits granted to employees that have a retroactive effect are recognized as an expense in the earlier of the following dates: · When a modification of the granted employment benefits takes place, or · When provisions for restructuring costs are recognized by a subsidiary or a business of Grupo Aval. c) Other long-term employee benefits Long term benefits are different from employee short-term benefits, post-employment benefits and termination. In accordance with the collective conventions and regulations of each company of Grupo Aval, such benefits are mainly related to seniority bonuses. Long-term liabilities for employee benefits are determined in the same manner as post-employment benefits described in item (b) above; the only difference is that the changes in the actuarial liability due to changes in the actuarial assumptions are recognized in profit or loss. d) Termination benefits These benefits are payments carried out by Grupo Aval entities deriving from a unilateral decision of terminating a labor contract or by a decision of the employee to accept benefits offered by an entity in exchange for terminating the employment contract. Pursuant to Colombian law, such payments correspond to compensation and other benefits that entities unilaterally decide to grant to their employees under such circumstances. Termination benefits are recognized as a liability or in profit or loss at the earlier of the following dates: · When Grupo Aval formally informs to the employee about its decision of dismissal; or · When provisions for restructuring costs are recognized by a subsidiary or business of Grupo Aval.
Description of accounting policy for income tax [text block]	2.25 Income taxes Income tax expense includes both current and deferred tax. Tax expense is recognized in profit or loss except for items recognized in Other Comprehensive Income or directly in equity. The current income tax is calculated based on the tax laws in force (enacted or substantively enacted) in Colombia as of the reporting date of the consolidated financial statements or, in the country where subsidiaries of Grupo Aval are located and subject to tax payment. Management of each entity of Grupo Aval periodically assesses tax return positions with respect to situations where the applicable tax regulation is subject to interpretation and establishes provisions, when appropriate, on the basis of amounts expected to be paid to tax authorities. Deferred taxes are recognized in respect of temporary differences arising between carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for tax purposes. Deferred taxes are not recognized for: temporary differences on the initial recognition of goodwill; temporary differences on the initial recognition of an asset or liability in a transaction that is not business combination and that affects neither accounting or taxable profit or loss and temporary differences related to investments in subsidiaries to the extent that it is probable that they will not reverse in the foreseeable future. Deferred tax is measured using the tax rates that are expected to be applied to the temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date. Deferred taxes assets are only recognized to the extent it is probable that future taxable income is expected to be available to offset temporary differences. Deferred tax liabilities arise from taxable temporary differences, except for the deferred tax liabilities on investments in subsidiaries, when the opportunity of reversal of temporary differences is controlled by Grupo Aval and it is not reversed in the near future. Generally, Grupo Aval has the ability to control the temporary differences of investments in associates. Current taxes are offset only when the entity has a legally enforceable right to offset and the entity intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Deferred taxes are offset when the entity has a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred tax assets and liabilities are related to income taxes levied by the same tax authority over the same taxable entity or over different entities but these entities have an intention to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously for each period in which these differences reverse. In determining the amount of current and deferred taxes, Grupo Aval considers the impact of uncertain tax exposures on current tax liabilities, including whether additional taxes and interest may be due. This assessment relies on estimates and assumptions and may involve a series of judgments about future events. New information may become available that causes Grupo Aval to change its judgment regarding the adequacy of existing tax liabilities; such changes to tax liabilities would impact tax expense in the period in which such a determination is made.
Description of accounting policy for taxes other than income tax [text block]	2.26 Non-Income taxes (levies) Levies are recognized as liabilities when Grupo Aval has accomplished the activities on which taxes must be paid, according to legislation in effect. A wealth tax was created by the Colombian Congress in late 2014, which is calculated based on the equity of companies in Colombia, determined under tax rules as of January 1, 2014, for every year from 2015 through 2017 on January 1, and is recognized on an annual basis as a liability when incurred and charged to profit or loss.
Description of accounting policy for provisions [text block]	2.27 Provisions Provisions for environmental dismantling and recovery, restructuring costs and legal claims are recognized when Grupo Aval has a present legal or constructive obligation as a result of past events, and it is probable that an outflow of economic benefits will be required to settle the obligation. Restructuring provisions include penalties due to cancelation of leases and employee dismissal payments. Provisions are measured at the present value of outflows expected to be necessary to settle the obligation, using a discount rate before taxes, reflecting the assessments of the time value of money of the current market as well as the specific risks of the obligation. The subsequent increase of the provision due to the unwinding of the discount rate is recognized as “other expenses”.
Disclosure Of Accounting Policy For Nonvoting Rights Of Preferred Shares Explanatory [Text Block]	2.28 Non-voting rights of preferred shares Preferred shares represent partial ownership and do not provide shareholders with any of the voting rights of common shares. Grupo Aval has classified as an equity instrument all the non-voting preferred shares.
Description of accounting policy for recognition of revenue [text block]	2.29 Revenues · Net interest income Policy applicable from January 1, 2018 (i) Effective interest rate Interest income and expense are recognized in the Consolidated Statement of Income using the effective interest method. The ‘effective interest rate’ is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument to: · The gross carrying amount of the financial asset; or · The amortized cost of the financial liability. When calculating the effective interest rate for financial instruments other than credit-impaired assets, Grupo Aval estimates future cash flows considering all contractual terms of the financial instrument, but not expected credit losses. For credit-impaired financial assets, a credit-adjusted effective interest rate is calculated using estimated future cash flows including expected credit losses. The calculation of the effective interest rate includes transaction costs and fees and points paid or received that are an integral part of the effective interest rate. Transaction costs include incremental costs that are directly attributable to the acquisition or issue of a financial asset or financial liability. (ii) Amortized cost and gross carrying amount The ‘amortized cost’ of a financial asset or financial liability is the amount at which the financial asset or financial liability is measured on initial recognition minus the principal repayments, plus or minus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount and, for financial assets, adjusted for any expected credit loss allowance (or impairment allowance until December 31, 2017). The ‘gross carrying amount’ of a financial asset is the amortized cost of a financial asset before adjusting for any expected credit loss allowance. (iii) Calculation of interest income and expense In calculating interest income and expense, the effective interest rate is applied to the gross carrying amount of the asset (when the asset is not credit-impaired) or to the amortized cost of the liability. However, for financial assets that have become credit-impaired subsequent to initial recognition, interest income is calculated by applying the effective interest rate to the amortized cost of the financial asset. If the asset is no longer credit-impaired, then the calculation of interest income reverts to the gross basis. For financial assets that were credit-impaired on initial recognition, interest income is calculated by applying the credit-adjusted effective interest rate to the amortized cost of the asset. The calculation of interest income does not revert to a gross basis, even if the credit risk of the asset improves. For information on when financial assets are credit-impaired, see Note 4(4.1.5 Definition of Default). (iv) Presentation Interest income and expense presented in the Consolidated Statement of Income and OCI include: · Interest on financial assets and financial liabilities measured at amortized cost calculated on an effective interest basis (see (i) above); · Interest on debt instruments measured at FVOCI calculated on an effective interest basis (see (i) above); Interest income and expense on all trading assets and liabilities are considered to be incidental to Grupo Aval’s trading operations and are presented together with all other changes in the fair value of trading assets and liabilities in “net trading income”. Interest income and expense on other financial assets and financial liabilities mandatory at FVTPL are presented in “Net trading income”. Policy applicable until December 31, 2017 Interest income and expense were recognized in profit or loss using the effective interest rate method. The ‘effective interest rate’ was the rate that discounts the estimated future cash payments and receipts through the expected life of the financial asset or financial liability (or, where appropriate, a shorter period) to the carrying amount of the financial asset or financial liability. When calculating the effective interest rate, Grupo Aval estimated future cash flows considering all contractual terms of the financial instrument, but not future credit losses. The calculation of the effective interest rate included transaction costs and fees and points paid or received that were an integral part of the effective interest rate. Transaction costs included incremental costs that were directly attributable to the acquisition or issuance of a financial asset or financial liability. Interest income and expense presented in the Consolidated Statement of Income: (i) Interest on financial assets and financial liabilities measured at amortized cost calculated using the effective interest method; (ii) Interest on available-for-sale debt securities calculated using the effective interest rate method; Interest income and expense on all trading assets and liabilities were considered to be incidental to Grupo Aval’s trading operations and were presented together with all other changes in the fair value of trading assets and liabilities in net trading income (Note 29). Fair value changes on other derivatives held for risk management purposes, and other financial assets and financial liabilities carried at fair value through profit or loss (FVTPL), were presented in net income from other financial instruments at FVTPL in the statement of profit or loss and OCI. · Net trading income ‘Net trading income’ comprises net gains or losses related to held for trading assets and liabilities, and includes all realized and unrealized fair value changes, interest, dividends and foreign exchange differences. Revenue from contracts with customers (other than interest income) policy applicable from January 1, 2018 IFRS 15 establishes a comprehensive framework to determine how much and when income is recognized, it replaced IAS 18, IAS 11 and other policies related to its interpretations, IFRIC 13, IFRIC 18 and SIC‑31. · Contract assets A contract asset is Grupo Aval’s right to consideration in exchange for goods or services that Grupo Aval has transferred to a customer when that right is conditional on something other than the passage of time (for example, invoicing or delivery of other elements of the contracts). Contract costs eligible for capitalization as incremental costs of obtaining a contract are recognized as a contract asset. Contract costs are capitalized when are incurred if Grupo Aval expects to recover those costs. Contract contracts are amortized on a systematic basis that is consistent with the transfer to the customer of the services when the related revenues are recognized. Contract costs capitalized are impaired if the customer is retired or if the asset’s carrying amount exceeds projected discounted cash flows relating to the contract. · Contract liabilities Contract liabilities comprise Grupo Aval’s obligation to transfer goods or services to a customer for which Grupo Aval has received consideration from the end customer or the amount is due. Additionally, it includes deferred income relating to goods or services that will be delivered in the future, which are charged to a customer in advance but not yet due. · Steps for revenue recognition Grupo Aval recognizes revenue from contracts with customers based on a five step model as set out in IFRS 15: · Step 1. Identify contract(s) with a customer: A contract is defined as an agreement between two or more parties that creates enforceable rights and obligations and sets out the criteria for every contract that must be met. Contracts can be written, oral or implied by an entity’s customary business practices. · Step 2. Identify performance obligations in the contract: A performance obligation is a promise in a contract with a customer to transfer a good or service to the customer. · Step 3. Determine the transaction price: The transaction price is the amount of consideration to which Grupo Aval expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties. · Step 4. Allocate the transaction price to the performance obligations in the contract: For a contract that has more than one performance obligation, Grupo Aval allocates the transaction price to each performance obligation in an amount that depicts the amount of consideration to which Grupo Aval expects to be entitled in exchange for satisfying each performance obligation. · Step 5. Recognize revenue when (or as) Grupo Aval satisfies a performance obligation. Grupo Aval satisfies a performance obligation and recognizes revenue over time, if one of the following criteria is met: a) Grupo Aval performance does not create an asset with an alternate use to Grupo Aval, and Grupo Aval has as an enforceable right to payment for performance completed to date. b) Grupo Aval performance creates or enhances an asset that the customer controls as the asset is created or enhanced. c) The customer simultaneously receives and realizes the benefits provided by Grupo Aval. For performance obligations where one of the above conditions are not met, revenue is recognized at the point in time at which the performance obligation is satisfied. When Grupo Aval satisfies a performance obligation by delivering the promised goods or services it creates a contract asset on the amount of consideration earned by the performance. Where the amount of consideration received from a customer exceeds the amount of revenue recognized this gives rise to a contract liability. Revenue is measured based on consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. Grupo Aval recognizes revenue when it transfers control over a good or service to a customer. Revenue is presented net of value added tax (VAT), rebates and discounts and after eliminating intra-group sales. Grupo Aval assesses its revenue arrangements to determine if it is acting as principal or agent. Revenue is recognized to the extent it is probable that the economic benefits will flow to Grupo Aval and the revenue and costs, if applicable, can be measured reliably. The following is a description of principal activities from which Grupo Aval generates revenue from contracts with customers: (i) Banking (Financial Services) Grupo Aval often enter into contracts that cover a number of different services. Such contracts might contain components within, and components outside, the scope of IFRS 15. Therefore, Grupo Aval only applies the guidance in IFRS 15 where it has contracts that are all or partly outside the scope of IFRS 9. Main revenue streams earned by the banks from contracts with customers are the following: · Credit cards: Interchange fees, Annual-quarterly-monthly fees, Loyalty schemes There are contracts that create enforceable rights and obligations between the Bank and the cardholders or merchants under which the bank will provide services, sometimes in exchange for annual and other fees. The following are some of the services that might exist in a contract with a cardholder: · Issuance of loyalty points (which are options to acquire goods/services for free or at a discount in the future), usually based on the monetary volume of card transactions; · Payment processing service; · Insurance where the bank is not the insurer; · Fraud protection; and · Processing of certain transactions, such as purchases in a foreign currency and cash withdrawals. The transaction price is allocated to each performance obligation based on the relative stand-alone selling prices of the goods or services being provided to the customer. The allocation of the transaction price to each of the separate performance obligations will not necessarily be required where there is more than one performance obligation but the performance obligations are all satisfied at the same time or evenly over the period. Performance obligations are fulfilled over time, taking into account that customers receive benefits as time goes on. Because the entity's efforts or resources are expended evenly throughout the performance period, income is recognized on a linear basis during the period defined under the credit card conditions. The costs of plastic or security elements are capitalized as contract signing costs. In connection with the credit and debit card purchase commissions of the Grupo Aval, customers receive benefits every time they make purchases. In this context, income is recognized periodically (daily or monthly) on the basis of the amounts traded. Income that would be deferred by the valuation of the points granted to the cardholders will be extracted from the total amount of commissions recorded periodically. See section (vi) Customer Loyalty Program below. · Commissions : Banks receive insurance commissions for introducing new clients to third party insurers, where the bank does not underwrite the insurance policy itself. These commissions are usually paid periodically (for example, monthly) to banks based on the volume of new policies (and/or renewal of existing policies) originating from clients introduced by the bank. The transaction price might include an element of consideration that is variable or contingent on the outcome of future events, such as policy cancellations, which is estimated and included in the transaction price based on the most likely amount and it is included in the transaction price only when it is highly probable that the resolution of the uncertainty will not result in a significant reversal of revenue. Performance obligations are fulfilled over time, taking into account that customers (insurers) receive benefits as time goes on. Where the commission calculation is made on a monthly basis or in a lower period, the total amount of the commission is recognized in the results when its determination is made. If the settlement of commissions is defined in periods higher than a monthly basis, the expected income to recognize revenues is estimated as time goes on. Loan commitment fees are within the scope of IFRS 15 where it is unlikely that a specific lending arrangement will be entered into and the loan commitment is not measured at FVTPL. Loan syndication fees received by a bank that arranges a loan and retains no part of the loan package for itself (or retains a part at the same Effective Interest Rate “EIR” for comparable risk as other participants) are within the scope of IFRS 15. Income from performance obligations to provide such services, which are met at a point in time, are recognized when the particular event defined in the contracts occurs (e.g., approval of the syndicated loan). The obligations met over time are recognized during the period of the commitment; if they are received in advance, they are deferred for their periodic amortization; or if they are received upon expiration, they are estimated periodically. · Savings and current accounts: Account and transaction fees Savings and current accounts contracts usually allow customers to access a variety of services, which include processing of wire transfers, use of ATMs for cash withdrawals, the issuance of debit cards, and provision of account statements; sometimes, they might also include other benefits. Fees are charged on a periodically basis and give the customer access to banking services and additional benefits. The performance obligations are fulfilled over time, taking into account that customers receive benefits as time goes on. As a result, the banks recognize the fees from providing services in the accounting period in which the services are rendered. · Investment banking: Underwriting fees and Advisory fees Advisory contracts with customers are not standardized. These contracts might be with different promises made to the customer, and they often include variable consideration including contingent fees that are only payable on meeting agreed milestones. Income from performance obligations to provide such services, which are met at a point in time, are recognized when the particular event defined in the contracts occurs. The obligations met over time are recognized considering the method of milestones achieved (as there is usually only one milestone that considers the delivery of results, income is recognized at a single moment when the final delivery is made.) (ii) Asset management Asset management revenues consist of base management fees, advisory fees, incentive distributions and performance-based incentive fees and profit-sharing arrangements which arise from the rendering of services. Revenues from base management fees, advisory fees incentive distributions, performance-based incentive fees and profit-sharing arrangements are recorded based on the amount that would be due under the formulas established by the contracts. If the amount that the asset manager expects to be entitled to is variable, the variable consideration included in the transaction price is limited to the amount for which it is ‘highly probable that a significant reversal of the amount of cumulative revenue recognized will not occur when the uncertainty is resolved. In making this assessment, Grupo Aval considers both the likelihood and the magnitude of the revenue reversal. Factors that could increase the likelihood or the magnitude of a revenue reversal include, but are not limited to, (i) the amount of consideration is highly susceptible to factors outside the entity’s influence, (ii) the uncertainty about the amount of consideration is not expected to be resolved for a long period of time, and (iii) the contract has a large number and broad range of possible consideration amounts. Management fees are often based on net assets under management, while performance fees are usually based on profits generated from the underlying investments held by the funds subject to certain thresholds. The contractual measurement period for performance fees for traditional fund managers is often the end of the month, the quarter or the year, and in some rare cases longer. In some cases, the performance fees will be constrained until this contractual measurement period is completed. This means that the revenue will generally not be recognized in full in the interim periods. However, management will need to determine if there is a portion (a minimum amount) of the variable consideration that should be recognized prior to the end of the contractual measurement period. The full amount of the fee will likely be recognized as of the end of the contractual measurement period when the asset manager becomes entitled to an amount that is fixed. In certain cases, the full amount of the fee will be recognized upon a redemption because the amount becomes fixed at that time and is no longer subject to reversal. (iii) Construction and operation services (Concessions) In Concession agreements, Grupo Aval determines that its performance obligations (Construction, operation and maintenance) are satisfied over time and measure its progress toward completion to determine the timing of revenue recognition using a method that depicts the transfer of the goods or services to the customer. Grupo Aval considers the nature of the product or services provided and the terms of the contract, such as termination rights, the rights to demand or retain payments, and the legal title to work in process in determining the best input or output method for measuring progress toward satisfaction of a performance obligation. Grupo Aval applies a single method to measure progress for each performance obligation within a contract. The method can be either an input method (cost incurred, labor hours) or output method (units produced, milestones reached). Estimations of revenues, costs or extent of progress toward completion are revised if circumstances change. Any resulting increases or decreases in estimated revenues or costs are reflected in profit or loss in the period in which the circumstances that give rise to the revision become known by management. (iv) Power and utilities Contracts between a customer and a utility for the purchase, delivery, and sale of electricity or gas, establish the rates and terms of service. Grupo Aval determined that its obligation to sell electricity or gas represents a single performance obligation that is satisfied over time (that is, the sale of electricity or gas over the term of the agreement represents a series of distinct goods that are substantially the same and that have the same pattern of transfer to the customer). Some contracts include multiple deliverables, such as the installation of connections or repairs, which are accounted as a separate performance obligation. The transaction price is allocated to each performance obligation based on the stand-alone selling price (regulated rates). If contracts include the installation of goods, revenue for the goods is recognized at the point in time when goods are delivered, the ownership has been transferred and the customer has accepted the goods. (v) Logistic activities The transport and logistics companies offer multiple products or services to their customers as part of a single agreement. Separate performance obligations are identified in an agreement based on the terms of the contract and Grupo Aval's usual business practices. Revenue recognition criteria generally apply separately to each performance obligation. In certain circumstances, it may be necessary to separate a transaction into identifiable components to reflect the content of the transaction. It may be necessary to group two or more transactions when they are linked in such a way that the commercial effect cannot be understood without reference to the series of transactions as a whole. The transaction price is assigned to performance obligations separately in a contract based on the relative independent selling price of each separate performance obligation. (vi) Customer loyalty program Financial entities and hotels of Grupo Aval manage several loyalty programs in which the customers accumulate points for their purchases, entitling them to redeem such points for prizes in accordance with the policies and the prize plan in force as of the redemption date. Reward points are recognized as an identifiable component separate from income for the service rendered, at their fair value. Income from loyalty programs is deferred and recognized in profit or loss until the entity has fulfilled its obligations to supply the products under the terms of the program or when it is no longer probable that the points under the program will be redeemed. Grupo Aval is the principal in a customer loyalty program if it obtains control of the goods or services of another party in advance of transferring control of those goods or services to a customer. Grupo Aval is an agent if its performance obligation is to arrange for another party to provide the goods or services. (vii) Agricultural produce Grupo Aval sells agricultural products. Sales are recognized when control of the products has been transferred, being when the products are delivered to the wholesaler, the wholesaler has full discretion over the channel and price to sell the products, and there is no unfulfilled obligation. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred to the wholesaler, and either the wholesaler has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed, or Grupo Aval has objective evidence that all criteria for acceptance have been satisfied. Revenue from these sales is recognized based on the price specified in the contract, net of discounts. Accumulated experience is used to estimate and provide for the discounts, using the most likely amount, and revenue is only recognized to the extent that it is highly probable that a significant reversal will not occur. No element of financing is deemed present as the sales are made with a credit term lower than 3 months, which is consistent with market practice. A receivable is recognized when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due. Therefore, a contract liability (refund liability) and a right to the returned goods (included in other assets) are recognized for the products expected to be returned. Accumulated experience is used to estimate such returns at the time of sale at a portfolio level (expected value method). Because the number of products returned has been steady for years, it is highly probable that a significant reversal in the cumulative revenue recognized will not occur. The validity of this assumption and the estimated amount of returns are reassessed at each reporting date. (viii) Hotel Services Revenue is derived from the following sources: i) Management fees – earned from hotels managed by Grupo Aval, usually under long-term contracts with the hotel owner. Management fees include a base fee, generally a percentage of hotel revenue, which is recognized when earned in accordance with the terms of the contract and an incentive fee, generally based on the hotel’s profitability or cash flows and recognized when the related performance criteria are met under the terms of the contract. ii) Owned and leased – primarily derived from hotel operations, including the guests accommodation and sales of food and beverage from owned and leased hotels operated under Grupo Aval brand names. Revenue is recognized at the point when the goods are sold or services are rendered. (ix) Financing components Grupo Aval adjusts transaction prices for the time value of money for contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year.
Description of accounting policy for earnings per share [text block]	2.30 Earnings per share Earning per share is calculated as net income for the period attributable to Grupo Aval’s shareholders divided by the weighted average number of common and preferred shares outstanding during the period. Diluted earnings per share are determined in the same way, on the basis of net income, but the weighted average number of shares outstanding is adjusted to account for the potential dilutive effect of stock options. Grupo Aval does not have financial instruments with potential dilutive effects. As a consequence, only basic earnings per share are disclosed in these financial statements.
Description of accounting policy for segment reporting [text block]	2.31 Operating segments An operating segment is a component of an entity which: a) Engages in business activities from which it can earn revenue and incur expenses (including revenue and expenses from transactions with other components of the same entity); b) Has operating profit or losses which are regularly reviewed by the chief operating decision maker, who decides on the resources allocation to the segment and assesses its performance; and c) Has discrete financial information is available. Management evaluates regularly the performance for each segment; Grupo Aval discloses information separately for each identified operating segment, meeting any of the following quantitative thresholds: a) The segment´s reported revenue from the ordinary activities, including revenue from external customers as well as revenue from intersegment transfers, is equal or greater than 10 per cent of the revenue of combined ordinary activities, internal and external, of all operating segments. b) The absolute amount of the segment´s reported net income is, in absolute terms, equal or greater than 10 per cent of the amount greater of: (i) the combined reported net income of all the segments not reporting a loss; and (ii) the reported combined loss of all segments of the operations with incurred losses. c) The segment´s assets are equal to or greater than 10 percent of the combined assets of all segments of the operation. The information regarding other activities of the business of operating segments that do not have to be reported is combined and disclosed within the category of “Others.”
Description of Accounting Policy for Change in Presentation [text block]	2.32 Changes in presentation For comparative purposes and after the application of IFRS 9, Grupo Aval changed the presentation on financial instruments of consolidated statement of financial position reported as of December 31, 2017. The following table shows the changes: Presentation As reported in as of comparative Original presentation December 31, 2017 New presentation figures Held-for-trading: Debt securities Ps. 2,650,536 Trading assets Equity securities 2,149,160 Trading assets 4,799,696 Trading assets Derivative instruments 328,392 Trading assets Total held-for-trading Ps. 5,128,088 Trading assets Total trading assets Ps. 5,128,088 Available-for-sale financial assets: Debt securities Ps. 17,790,127 Investment securities Equity securities 824,033 Investment securities Total available-for-sale financial assets Ps. 18,614,160 Investment securities Held-to-maturity investments Ps. 2,899,039 Investment securities Total investment securities Ps. 21,513,199 Loans and receivables: Loans Commercial 99,428,894 Commercial Consumer 50,382,895 Consumer Mortgages 16,151,299 Mortgages Microcredit 409,688 Microcredit Allowance for impairment losses (5,618,481) Allowance for impairment losses 160,754,295 Total loans Total loans Ps. 160,754,295 Other financial assets at fair value through profit or loss 2,282,611 Other accounts receivable, net (1) Other accounts receivable, net 4,239,272 Other accounts receivable, net (1) Total other accounts receivable, net (1) Ps. 6,521,883 Hedging derivatives Ps. 55,261 Hedging derivatives assets Ps. 55,261 Presentation As reported in as of comparative Original presentation December 31, 2017 New presentation figures Financial liabilities held for trading Trading liabilities Derivative instruments Ps. 298,665 Trading liabilities Ps. 298,665 Hedging derivatives 13,464 Hedging derivatives liabilities 13,464 For comparative purposes Grupo Aval changed the presentation of the revenue from contracts with customers within the consolidated statement of income reported as of December 31, 2017 and 2016, the following table shows the changes: For the period 2017 Presentation as of Change in As reported in December 31, 2017 presentation comparative figures Income from sales of goods and services Ps. — Ps. 5,792,850 Ps. 5,792,850 Costs and expenses of sales goods and services — (5,035,827) (5,035,827) Net income from sales goods and services — 757,023 757,023 Other income 1,908,768 (757,023) 1,151,745 For the period 2016 Presentation as of Change in As reported in December 31, 2016 presentation comparative figures Income from sales of goods and services Ps. — Ps. 6,654,623 Ps. 6,654,623 Costs and expenses of sales goods and services — (5,725,328) (5,725,328) Net income from sales goods and services — 929,295 929,295 Other income 2,605,401 (929,295) 1,676,106
Disclosure of expected impact of initial application of new standards or interpretations [text block]	2.33 New and Amended IFRS Below is a list of the new and amended standards that have been issued by the IASB and are effective for annual periods starting on or after January 1, 2019. Grupo Aval has not early adopted the new standards in preparing these consolidated financial statements. Management is in the process of assessing the potential impact of these pronouncements on Grupo Aval consolidated financial statements as further explained below: Standards issued but not yet effective A. IFRS 16 Leases Grupo Aval is required to adopt IFRS 16 Leases starting January 1, 2019. Grupo Aval estimated the estimated the impact that the initial application of IFRS 16 will have on its consolidated financial statements, as described below, but the actual impact of adopting the standard on January 1, 2019 may change because: · Grupo Aval has not finalized the testing and assessment of controls over its new IT systems; and · the new accounting policies are subject to change until Grupo Aval presents its first financial statements that include the date of initial application. IFRS 16 introduces a single, on-balance sheet lease accounting model for lessees. A lessee recognizes a right-of-use asset representing its right to use the underlying asset and a lease liability representing its obligation to make lease payments. There are recognition exemptions for short-term leases and leases of low-value items. Lessor accounting remains similar to the current standard; this means that lessors continue to classify leases as finance or operating leases. IFRS 16 replaces existing leases guidance, including IAS 17 Leases, IFRIC 4 Determining whether an Arrangement contains a Lease, SIC‑15 Operating Leases – Incentives and SIC‑27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease. Grupo Aval has completed an initial assessment of the potential impact on its consolidated financial statements but has not yet completed its detailed assessment. The actual impact of applying IFRS 16 on the financial statements in the period of initial application will depend on future economic conditions, the development of Grupo Aval’s lease portfolio, Grupo Aval’s assessment of whether it will exercise any lease renewal options and the extent to which Grupo Aval chooses to use practical expedients and recognition exemptions. Grupo Aval will recognize new assets and liabilities for its operating leases. The nature of expenses related to these leases will now change because IFRS 16 replaces the straight-line operating lease expense with a depreciation charge for right of use assets and interest expense on lease liabilities. Previously, Grupo Aval recognized operating lease expense on a straight-line basis over the term of the lease. Grupo Aval expects to recognize right-of-use assets of approximately Ps. 2,098,731 as of January 1, 2019; lease liabilities of approximately Ps. 2,138,990; and deferred tax assets of approximately Ps. 644,541 and liabilities of approximately Ps. 633,632. These impacts could generate a decrease in retained earnings as of January 1, 2019 of approximately Ps. 29,350. No significant impact is expected for Grupo Aval’s finance leases. However, some additional disclosures will be required next year. Grupo Aval plans to apply IFRS 16 on January 1, 2019, using a modified retrospective approach. Therefore, the cumulative effect of adopting IFRS 16 will be recognized as an adjustment to the opening balance of retained earnings at January 1, 2019, with no restatement of comparative information. Grupo Aval plans to apply the practical expedient to the definition of a lease on transition. This means that it will apply IFRS 16 to all contracts entered into before January 1, 2019 and identified as leases in accordance with IAS 17 and IFRIC 4. B. Other Standards Effective for Annual Periods New or Amended Standard Title of the Standard Beginning on or After Forthcoming requirements. IFRS 16 Leases January 1, 2019 IFRIC 23 Uncertainty over Tax Treatments January 1, 2019 Amendments to IFRS 9 Prepayment Features with Negative Compensation January 1, 2019 Amendments to IAS 28 Long-term Interests in Associates and Joint Ventures January 1, 2019 Amendments to IAS 19 Plan Amendment, Curtailment or Settlement January 1, 2019 Various standards Annual Improvements to IFRS Standards 2015–2017 Cycle January 1, 2019 Amendment to IFRS 3 Business combinations January 1, 2019 Conceptual Framework Amendments to References to Conceptual Framework in IFRS Standards January 1, 2020 IFRS 17 Insurance Contracts January 1, 2021 Amendment to IAS 1 and IAS 8 Definition of materiality January 1, 2021 Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Available for optional adoption / effective date deferred indefinitely Grupo Aval has preliminarily assessed the impacts of the adoption of the new or amended standards detailed above, concluding that they do not have a significant impact on the financial statements of Grupo Aval as of December 31, 2018, except for IFRS 16 as explained above.

REPORTING ENTITY (Tables)

REPORTING ENTITY (Tables)	12 Months Ended
	Dec. 31, 2018
Banco de Bogota S.A.
Disclosure of subsidiaries [line items]
Disclosure of information about consolidated structured entities [text block]	The following table presents details of Banco de Bogotá’s most significant subsidiaries which are indirectly consolidated by Grupo Aval as of December 31, 2018: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Main local direct subsidiaries Almaviva S.A. and its subsidiaries Logistics services. Bogotá, Colombia 95.81 % 65.85 % Fiduciaria Bogotá S.A. Management of trust funds. Bogotá, Colombia 94.99 % 65.29 % Porvenir S.A. and its subsidiary Management of pension and severance funds. Bogotá, Colombia 100 % 75.67 % Main international direct subsidiaries Leasing Bogotá Panamá S.A. Holding company of BAC Credomatic Inc. Panamá, Republic of Panamá 100 % 68.74 % Banco de Bogotá Panamá S.A. Commercial banking services. Panamá, Republic of Panamá 100 % 68.74 % Main indirect subsidiaries BAC Credomatic Inc. Holding company in charge of managing the banking and related subsidiaries in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panamá, among others. (Subsidiary of Leasing Bogotá Panamá S.A.). Panamá, Republic of Panamá 100 % 68.74 %
Banco de Occidente S.A.
Disclosure of subsidiaries [line items]
Disclosure of information about consolidated structured entities [text block]	The following table presents the details of Banco de Occidente’s most significant subsidiaries, which are indirectly consolidated by Grupo Aval, as of December 31, 2018: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Banco de Occidente (Panamá). S.A. Commercial banking services. Panamá, Republic of Panamá 95.00 % 68.66 % Fiduciaria de Occidente S.A. Management of trust funds. Bogotá, Colombia 99.99 % 70.76 % Occidental Bank Barbados Ltd. Commercial banking services. Barbados 100 % 72.27 %
Banco Popular S.A.
Disclosure of subsidiaries [line items]
Disclosure of information about consolidated structured entities [text block]	The following table presents the details of Banco Popular’s most significant subsidiaries which are indirectly consolidated by Grupo Aval, as of December 31, 2018: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Alpopular S.A. Conservation and custody of documents; transportation of products at national and international levels. Bogotá, Colombia 71.10 % 66.65 % Fiduciaria Popular S.A. Management of trust funds. Bogotá, Colombia 94.85 % 88.91 %
Banco Comercial AV Villas S.A.
Disclosure of subsidiaries [line items]
Disclosure of information about consolidated structured entities [text block]	The following table presents the details of Banco AV Villas’ most significant subsidiary which is indirectly consolidated by Grupo Aval, as of December 31, 2018: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval A Toda Hora S.A. ATH ATM network services and maintenance and software development Bogotá, Colombia 100 % 78.90 %
Corporacion Financiera Colombiana S.A.
Disclosure of subsidiaries [line items]
Disclosure of information about consolidated structured entities [text block]	The following table presents the details of Corficolombiana´s most significant subsidiaries which are indirectly consolidated by Grupo Aval, at December 31, 2018: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Casa de Bolsa S.A. Brokerage firm Bogotá, Colombia 97.30 % 61.18 % Colombiana de Licitaciones y Concesiones S.A.S. Infrastructure projects. Bogotá, Colombia 100 % 38.25 % Concesionaria Nueva Vía Al Mar S.A.S. Infrastructure projects. Cali, Colombia 100 % 38.25 % Concesionaria Vial Del Pacifico S.A.S. Infrastructure projects. Sabaneta Antioquia 89.90 % 34.38 % Estudios y Proyectos del Sol S.A.S. and its subsidiaries Infrastructure projects. Bogotá, Colombia 100 % 38.25 % Estudios, Proyectos e Inversiones de los Andes S.A. and its subsidiaries Infrastructure projects. Bogotá, Colombia 99.98 % 38.24 % Fiduciaria Corficolombiana S.A. Management of trust funds. Bogotá, Colombia 100 % 38.25 % Hoteles Estelar S. A. and its subsidiaries Construction and operation of hotels, directly or by third parties, in Colombia and abroad. Bogotá, Colombia 84.96 % 32.49 % Leasing Corficolombiana S.A. Financial services Bogotá, Colombia 100 % 38.25 % Organización Pajonales S. A. and its subsidiaries Investment and promotion of agricultural, livestock, forestry and agro industrial companies. Bogotá, Colombia 99.35 % 38.00 % Plantaciones Unipalma de los Llanos S.A. Development, production and sale of African palm products. Bogotá, Colombia 54.53 % 20.86 % Promigas S.A. E.S.P. and its subsidiaries Transportation and distribution of natural gas. Barranquilla, Colombia 50.88 % 19.46 % Proyectos de Infraestructura S.A. – PISA and its subsidiaries Infrastructure projects. Cali, Colombia 88.25 % 33.75 % On September 5, 2018, Corficolombiana issued 40,000,000 common shares and 1,529,542 preferred shares without voting rights. The total amount of this issue was Ps. 988,072. Neither Grupo Aval nor its subsidiaries exercised their right of preferential subscription of common shares. As a result, Grupo Aval’s stake in Corficolombiana was diluted as follows: Total voting rights held by Total ownership interest Grupo Aval held by Grupo Aval Before the issuance 62.42 % 44.79 % After the issuance 52.96 % 38.25 %

BASIS OF PREPARATION OF THE C_3

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of voluntary change in accounting policy [line items]
Schedule of estimated on a straight-line basis during the estimated useful life of the asset	Depreciation is estimated on a straight-line basis during the estimated useful life of the asset. The annual depreciation rates for each item of assets are: Asset Useful Life Own use buildings According to appraisals without exceeding 70 years Equipment, furniture and accessories From 3 to 10 years Machinery and equipment From 5 to 25 years Computer equipment From 3 to 12 years Vehicles From 5 to 10 years Bearer plants From 25 to 35 years
Schedule of Change in accounting policies	The following table summarizes the impact, net of taxes, of the adoption of IFRS 15 and IFRS 9 in the statement of financial position as of January 1, 2018. Impact of Reference the adoption IFRS 15 Revenue from contracts with customers A Ps. 391,281 IFRS 9 Financial Instruments B (784,399) Net impact at January 1, 2018 Ps. (393,118)
Schedule of financial assets and financial liabilities measurement category under IFRS 9	Financial assets New Carrying classification amount Carrying Original classification under under Remeasurement amount under under IAS 39 IFRS 9 IAS 39 Reclassification (1) impact to OCI IFRS 9 Cash and cash equivalents Loans and receivables Amortized cost Ps. 22,336,838 Ps. — Ps. — Ps. 22,336,838 Debt securities Held-for-trading Amortized cost — — — FVTPL 2,650,536 — — 2,650,536 FVOCI — — — — Available-for-sale Amortized cost — — — — FVTPL mandatory (*) 8,256 — — 8,256 FVOCI 17,781,871 — — 17,781,871 Held to maturity Amortized cost 2,899,039 — — 2,899,039 FVTPL — — — — FVOCI — — — — Equity securities Held-for-trading FVTPL 2,149,160 — — 2,149,160 FVOCI — — — — Available-for-sale FVTPL — — — — FVOCI 824,033 41,790 71,229 937,054 Derivatives Held-for-trading FVTPL 328,392 — — 328,392 Hedging instrument Hedging instrument 55,261 — — 55,261 Loans and leases receivables Loans and receivables Amortized cost 166,372,776 — — 166,372,776 FVTPL — — — — Other receivables Loans and receivables Amortized cost 3,680,116 — — 3,680,116 Assets under concession contracts Loans and receivables Amortized cost 786,018 — — 786,018 Designated as at FVTPL FVTPL 2,282,611 — — 2,282,611 Total financial assets Ps. 222,154,907 Ps. 41,790 Ps. 71,229 Ps. 222,267,926 Financial liabilities Original New carrying classification amount New carrying Original classification under under amount under under IAS 39 IFRS 9 IAS 39 Reclassification Remeasurement IFRS 9 Deposits Other financial liabilities Amortized cost Ps. 154,885,224 Ps. — Ps. — Ps. Financial liabilities Other financial liabilities Amortized cost 45,276,036 — — 45,276,036 Derivatives Held-for-trading FVTPL 298,665 — — 298,665 Hedging instrument Hedging instrument 13,464 — — 13,464 Total financial liabilities Ps. 200,473,389 Ps. — Ps. — Ps. (*) After the adoption of IFRS 9, certain investment securities were classified as at FVTPL because the contractual cash flows of these securities are not Solely Payments of Principal and Interest (“SPPI”) on the principal outstanding. The reclassified assets include certain asset-backed securities whose exposure to credit risk is higher than the exposure to credit risk of the underlying pool of financial assets. (1) Reclassification from other assets, measured at cost as of December 31, 2017.
Schedule of application of IFRS 9’s impairment requirements recognition of additional allowance	Loss allowance as of December 31, 2017 under IAS 39 Ps. (5,875,018) Additional impairment recognized as of January 1, 2018 on: Loans (1,163,009) Credit Commitments (16,217) Other accounts receivable (18,907) Impact on equity method investees due to impairment of other accounts receivable from associates (3,691) Debt securities measured at amortized cost (672) Other financial assets (58) Loss allowance as of January 1, 2018 under IFRS 9 Ps. (7,077,572)
Schedule of reconciliation of loss allowance impairment impact on retain earnings	Impairment loss due to credit risk as of December 31, 2017 under IAS 39 Ps. (71,708) Additional impairment recognized as of January 1, 2018 on: Debt securities measured at FVOCI (56,198) Loss allowance as of January 1, 2018 under IFRS 9 Ps. (127,906)
Schedule of Revenue from Contract with Customer within the Consolidated Statement of Income [Text Block]	For comparative purposes Grupo Aval changed the presentation of the revenue from contracts with customers within the consolidated statement of income reported as of December 31, 2017 and 2016, the following table shows the changes: For the period 2017 Presentation as of Change in As reported in December 31, 2017 presentation comparative figures Income from sales of goods and services Ps. — Ps. 5,792,850 Ps. 5,792,850 Costs and expenses of sales goods and services — (5,035,827) (5,035,827) Net income from sales goods and services — 757,023 757,023 Other income 1,908,768 (757,023) 1,151,745 For the period 2016 Presentation as of Change in As reported in December 31, 2016 presentation comparative figures Income from sales of goods and services Ps. — Ps. 6,654,623 Ps. 6,654,623 Costs and expenses of sales goods and services — (5,725,328) (5,725,328) Net income from sales goods and services — 929,295 929,295 Other income 2,605,401 (929,295) 1,676,106
IFRS 15
Disclosure of voluntary change in accounting policy [line items]
Disclosure of initial application of standards or interpretations [text block]	The following table summarizes the impact net of taxes, of the adoption of IFRS 15 in the statement of financial position as of January 1, 2018. Impact of the adoption of IFRS 15 as of January 1, 2018 Operation and construction services (Concessions) (i) Commissions related to funding (see note 16) Ps. 12,744 Contract liability (see note 24) (531,804) Financial assets (see note 16) 450,878 Intangible assets (see note 16) 619,949 Deferred tax effect (181,680) 370,087 Customer loyalty programs (ii) Customer loyalty programs 32,232 Deferred tax effect (11,038) 21,194 Net impact retained earnings at January 1, 2018 Ps. 391,281
IFRS 9
Disclosure of voluntary change in accounting policy [line items]
Disclosure of initial application of standards or interpretations [text block]	The following table summarizes the impact, net of tax, of our transition to IFRS 9 on the opening balance of reserves and retained earnings and Other Comprehensive Income (“OCI”) as of January 1, 2018 (for a description of the transition method, see (iv) below). Impact of adopting IFRS 9 on opening balance of: Reserves and Total reference retained earnings OCI equity Recognition of changes in measurement due in classification under IFRS 9 i. Ps. — Ps. 71,229 Ps. 71,229 Recognition of expected credit losses under IFRS 9 ii. (1,255,060) 56,198 (1,198,863) Impact on equity method due to impairment of other accounts receivable from associates ii — (3,691) (3,691) Deferred tax effect 366,650 (19,725) 346,926 Impact as of January 1, 2018 Ps. (888,411) Ps. 104,011 Ps. (784,399)
Schedule of Financial Instrument of Consolidated Statement of Financial Position [Text Block]	For comparative purposes and after the application of IFRS 9, Grupo Aval changed the presentation on financial instruments of consolidated statement of financial position reported as of December 31, 2017. The following table shows the changes: Presentation As reported in as of comparative Original presentation December 31, 2017 New presentation figures Held-for-trading: Debt securities Ps. 2,650,536 Trading assets Equity securities 2,149,160 Trading assets 4,799,696 Trading assets Derivative instruments 328,392 Trading assets Total held-for-trading Ps. 5,128,088 Trading assets Total trading assets Ps. 5,128,088 Available-for-sale financial assets: Debt securities Ps. 17,790,127 Investment securities Equity securities 824,033 Investment securities Total available-for-sale financial assets Ps. 18,614,160 Investment securities Held-to-maturity investments Ps. 2,899,039 Investment securities Total investment securities Ps. 21,513,199 Loans and receivables: Loans Commercial 99,428,894 Commercial Consumer 50,382,895 Consumer Mortgages 16,151,299 Mortgages Microcredit 409,688 Microcredit Allowance for impairment losses (5,618,481) Allowance for impairment losses 160,754,295 Total loans Total loans Ps. 160,754,295 Other financial assets at fair value through profit or loss 2,282,611 Other accounts receivable, net (1) Other accounts receivable, net 4,239,272 Other accounts receivable, net (1) Total other accounts receivable, net (1) Ps. 6,521,883 Hedging derivatives Ps. 55,261 Hedging derivatives assets Ps. 55,261 Presentation As reported in as of comparative Original presentation December 31, 2017 New presentation figures Financial liabilities held for trading Trading liabilities Derivative instruments Ps. 298,665 Trading liabilities Ps. 298,665 Hedging derivatives 13,464 Hedging derivatives liabilities 13,464

RISK MANAGEMENT (Tables)

RISK MANAGEMENT (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of credit risk exposure [text block]	Account Assets December 31, 2018 December 31, 2017 (1) Cash and cash equivalents (**) Ps. 21,955,901 Ps. 16,531,811 Debt securities held for trading 3,762,978 2,650,536 Debt securities FVTPL 31,256 — Debt securities FVOCI (2017 – available-for-sale) 18,935,757 17,790,127 Debt securities at amortized cost (2017 – held-to-maturity) 2,972,616 2,899,039 Derivatives instruments 768,686 328,392 Hedging derivatives 30,138 55,261 Loans Commercial 102,408,977 99,428,894 Consumer 55,455,064 50,382,895 Mortgage 18,592,103 16,151,299 Microcredit 425,697 409,688 Other accounts receivable FVTPL 2,488,414 2,282,611 Other accounts receivable at amortized cost 7,069,120 4,466,134 Total financial assets with credit risk Ps. 234,896,707 Ps. 213,376,687 Financial instruments with credit risk outside of the statement of financial position at its nominal value Financial guarantees and letters of credit 3,446,601 3,495,921 Credit commitments 27,479,080 23,727,317 Total exposure to credit risk outside of the statement of financial position Ps. 30,925,681 Ps. 27,223,238 Total maximum exposure to credit risk Ps. 265,822,388 Ps. 240,599,925 (**) Not including funds in custody by the entity (cash, tellers, vaults), because there is no credit risk regarding Grupo Aval entities. (1)
Disclosure of financial assets [text block]	December 31, 2018 Balance in Statement Leasing presentation Balance according to Portfolio segment of financial position adjustment disclosure Commercial Ps. 102,408,977 Ps. (9,858,952) Ps. 92,550,025 Consumer 55,455,064 (254,483) 55,200,581 Residential mortgage 18,592,103 (1,312,741) 17,279,362 Microcredit 425,697 — 425,697 Financial leasing — 11,426,176 11,426,176 Total portfolio Ps. 176,881,841 Ps. — Ps. 176,881,841 December 31, 2017 Balance in Statement Leasing presentation Balance according to Portfolio segment of financial position adjustment disclosure Commercial Ps. 99,428,894 Ps. (9,892,400) Ps. 89,536,494 Consumer 50,382,895 (226,764) 50,156,131 Residential mortgage 16,151,299 (1,047,766) 15,103,533 Microcredit 409,688 — 409,688 Financial Leasing — 11,166,930 11,166,930 Total portfolio Ps. 166,372,776 Ps. — Ps. 166,372,776
Description of detailed information about investments subject to value at risk [Text Block]	December 31, 2018 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial assets Cash and cash equivalents 4,859 1,075 19,297,896 Investments in debt securities at fair value through profit or loss 121 15 441,801 Investments in debt securities at fair value through OCI 2,201 589 9,068,739 Investments in debt securities at amortized cost 10 — 32,321 Loan portfolio financial assets at amortized cost 15,923 4,706 67,023,090 Trading derivatives 222 1 725,433 Hedge derivatives 9 — 30,138 Other accounts receivable 246 176 1,370,820 Total financial assets 23,591 6,562 97,990,238 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial liabilities Trading derivatives 236 3 776,162 Hedge derivatives 60 — 195,539 Customer deposits 14,914 5,077 64,971,825 Financial obligations 9,457 666 32,899,230 Accounts payable 442 — 1,437,447 Total financial liabilities 25,109 5,746 100,280,203 Net financial asset (liability) position (1,518) 816 (2,289,965) December 31, 2017 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial assets Cash and cash equivalents 3,541 1,052 13,706,552 Investments in debt securities held for trading 134 24 470,430 Investments in securities available-for-sale 2,564 631 9,532,417 Investments in debt securities held-to-maturity 17 — 50,695 Loan portfolio financial assets at amortized cost 16,217 4,500 61,817,662 Trading derivatives 91 1 274,691 Hedge derivatives 19 — 55,261 Other accounts receivable 161 202 1,083,678 Total financial assets 22,744 6,410 86,991,386 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial liabilities Trading derivatives 85 1 256,865 Hedge derivatives 5 — 13,464 Customer deposits 14,572 4,909 58,087,999 Financial obligations 8,624 690 27,808,291 Accounts payable 437 — 1,304,929 Total financial liabilities 23,723 5,600 87,471,548 Net financial asset (liability) position (979) 810 (480,162)
Disclosure of internal credit grades [text block]	. December 31, 2018 December 31, Stage 1 Stage 2 Stage 3 Total 2017 (1) Commercial “A” Normal risk Ps. 83,532,853 Ps. 195,949 Ps. 183,263 Ps. 83,912,065 Ps. 82,217,135 “B” Acceptable risk 565,266 1,220,838 491,062 2,277,166 2,093,079 “C” Appreciable risk 88,802 227,429 2,680,090 2,996,321 2,735,103 “D” Significant risk 1,290 36,295 1,548,951 1,586,536 1,620,293 “E” Risk of nonrecoverability 3,008 10,350 1,764,579 1,777,937 870,884 Commercial portfolio gross balance Ps. 84,191,219 Ps. 1,690,861 Ps. 6,667,945 Ps. 92,550,025 Ps. 89,536,494 Consumer “A” Normal risk 47,782,665 1,815,283 19,295 49,617,243 45,794,015 “B” Acceptable risk 799,326 1,004,173 12,805 1,816,304 1,364,520 “C” Appreciable risk 128,850 1,149,796 458,474 1,737,120 1,232,881 “D” Significant risk 23,896 228,509 1,070,538 1,322,943 1,256,089 “E” Risk of nonrecoverability 6,568 37,819 662,584 706,971 508,626 Consumer portfolio gross balance Ps. 48,741,305 Ps. 4,235,580 Ps. 2,223,696 Ps. 55,200,581 Ps. 50,156,131 Mortgage “A” Normal risk 15,478,116 563,066 20,965 16,062,147 14,208,051 “B” Acceptable risk 72,557 337,093 3,059 412,709 324,925 “C” Appreciable risk 13,547 418,754 35,318 467,619 326,237 “D” Significant risk 151 11,632 101,164 112,947 79,707 “E” Risk of nonrecoverability 1,686 5,196 217,058 223,940 164,613 Mortgage portfolio gross balance Ps. 15,566,057 Ps. 1,335,741 Ps. 377,564 Ps. 17,279,362 Ps. 15,103,533 Microcredit “A” Normal risk 344,424 2,897 194 347,515 341,194 “B” Acceptable risk 162 10,542 — 10,704 11,871 “C” Appreciable risk 71 7,519 — 7,590 6,742 “D” Significant risk 35 2,980 5,671 8,686 7,342 “E” Risk of nonrecoverability 31 1,436 49,735 51,202 42,539 Microcredit portfolio gross balance Ps. 344,723 Ps. 25,374 Ps. 55,600 Ps. 425,697 Ps. 409,688 Financial leasing “A” Normal risk 9,818,788 79,008 26,299 9,924,095 9,874,243 “B” Acceptable risk 267,541 183,862 61,275 512,678 489,323 “C” Appreciable risk 45,418 56,561 217,937 319,916 394,534 “D” Significant risk 178 10,403 477,820 488,401 309,726 “E” Risk of nonrecoverability 446 114 180,526 181,086 99,104 Financial leasing portfolio gross balance Ps. 10,132,371 329,948 963,857 11,426,176 Ps. 11,166,930 Gross balance of financial assets per credit portfolio Ps. 158,975,675 Ps. 7,617,504 Ps. 10,288,662 Ps. 176,881,841 Ps. 166,372,776 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2.5 (B)
Disclosure of Detailed information on Credit Worthiness [Text Block]	December 31, 2018 December 31, 2017 Investment grade Ps. 13,988,666 Ps. 9,391,266 Central bank 3,794,411 3,820,538 Financial entities 10,194,255 5,570,728 Speculative grade 7,707,990 6,679,084 Central bank 7,264,128 5,993,380 Financial entities 443,862 685,704 Without grade or not available 259,245 461,461 Central bank 2,338 1,469 Financial entities 256,907 459,909 Others — 83 Cash and cash equivalent with third parties Ps. 21,955,901 Ps. 16,531,811 Cash held by entity (**) 6,445,382 5,805,027 Total Ps. 28,401,283 Ps. 22,336,838 (**) Cash held by each Grupo Aval’s bank in custody in vaults, ATMs and cash.
Disclosure Of Segmentation Of Accounts Receivable [Table Text Block]	December 31, 2018 December 31, Stage 1 Stage 2 Stage 3 Total 2017 Segmentation Contributions Ps. 71,903 Ps. — Ps. — Ps. 71,903 Ps. 130,552 Gas 232,445 134,519 77,693 444,657 375,914 Energy 37,455 3,563 98,154 139,172 99,841 Other accounts receivable 54,046 — — 54,046 126,253 Total segmentation Ps. 395,849 Ps. 138,082 Ps. 175,847 Ps. 709,778 Ps. 732,560 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5).
Disclosure Of Exposure To Credit Risk And ECLs For Other Accounts Receivables And Contract Assets For Corporate Customers [Table Text Block]	Weighted- Gross average loss carrying Loss Credit- December 31, 2018 rate amount allowance impaired 0–30 days past due 1.15 % 2,846,086 32,622 — 31–60 days past due 6.70 % 111,636 7,485 — 61–90 days past due 9.39 % 31,625 2,970 — More than 90 days past due 47.32 % 398,495 188,583 398,495 Ps. 3,387,842 Ps. 231,660
Disclosure of assets and liabilities exposed to trading risk [Text Block]	Total Central counterparties Notional Fair Notional Fair amount value amount value 2018 Derivative assets 768,686 5,997,311 — Derivative liabilities 811,305 1,977,284 32 2017 Derivative assets 328,392 4,558,472 — Derivative liabilities 298,665 5,324,037 — Hedge derivatives Total Central counterparties Notional Fair Notional Fair amount value amount value 2018 Derivative assets 2,493,849 30,138 1,280,402 — Derivative liabilities 8,722,602 195,539 4,601,646 — 2017 Derivative assets 4,233,151 55,261 1,632,248 — Derivative liabilities 3,377,903 13,464 1,541,236 —
Disclosure of Loans and Advances by Range of Loan to Value Ratio [Table Text Block]	December 31, 2018 December 31, 2017 LTV ratio Less than 50% Ps. 6,414,097 Ps. 5,243,564 51 – 70% 6,678,883 5,912,568 71 – 90% 4,890,501 4,412,544 91 – 100% 426,810 419,521 More than 100% 181,812 163,102 Total Ps. 18,592,103 Ps. 16,151,299 Credit-impaired mortgage loans December 31, 2018 December 31, 2017 LTV ratio Less than 50% Ps. 99,462 Ps. 74,258 51 – 70% 146,568 108,222 More than 70% 177,821 131,990 Total Ps. 423,851 Ps. 314,469
Disclosure of Detailed Information on Credit Portfolio [Text Block]	Finance December 31, 2018 Commercial Consumer Mortgages Microcredit Leases (1) Total Unsecured credits Ps. 49,721,150 Ps. 47,305,167 Ps. 3,572 Ps. 289,518 Ps. 44,221 Ps. 97,363,628 Loans secured by other banks 362,128 7,378 — — 6,102 375,608 Collateralized credits: Mortgages 506,687 68,191 17,200,445 4,040 4,644 17,784,007 Other real estate 15,943,414 1,428,950 4,432 542 116,884 17,494,222 Investments in equity instruments 502,408 553 — — — 502,961 Deposits in cash or cash equivalents 1,147,457 156,229 — — — 1,303,686 Leased machineries and vehicles — — — — 9,221,950 9,221,950 Fiduciary agreements, standby letters and guarantee funds 9,316,479 38,516 70,174 97,946 361,515 9,884,630 Pledged income 3,262,967 303 — — 10,397 3,273,667 Pledges 3,316,543 5,773,201 477 668 6,379 9,097,268 Other assets 8,470,792 422,093 262 32,983 1,654,084 10,580,214 Total gross loan portfolio Ps. Ps. Ps. Ps. Ps. Ps. Finance December 31, 2017 Commercial Consumer Mortgages Microcredit Leases (1) Total Unsecured credits Ps. 51,074,506 Ps. 42,566,151 Ps. 6,859 Ps. 275,701 Ps. 52,179 Ps. 93,975,396 Loans secured by other banks 350,562 4,284 — — 4,803 359,649 Collateralized credits: Mortgages 865,857 62,174 15,025,672 4,811 6,127 15,964,641 Other real estate 13,126,277 1,248,808 4,290 1,168 120,909 14,501,452 Investments in equity instruments 433,041 1,077 — — — 434,118 Deposits in cash or cash equivalents 2,172,911 141,891 — 101 — 2,314,903 Leased machineries and vehicles — — — — 9,151,139 9,151,139 Fiduciary agreements, standby letters and guarantee funds 8,129,469 36,204 64,250 102,698 364,938 8,697,559 Pledged income 3,032,277 266 22 — 11,478 3,044,043 Pledges 3,859,626 5,728,752 1,597 1,290 20,452 9,611,717 Other assets 6,491,968 366,524 843 23,919 1,434,905 8,318,159 Total gross loan portfolio Ps. 89,536,494 Ps. 50,156,131 Ps. Ps. Ps. Ps. 166,372,776 (1) See Note 4.1.1
Schedule of loss allowance	The table below shows the loss allowance balances as of December 31, 2018 and 2017. December 31, 2018 Stage 1 Stage 2 Stage 3 Lifetime Lifetime ECL not ECL 12-month credit- credit- Simplified December 31, 2017 ECL impaired impaired approach Total (1) Loan portfolio Loan commercial portfolio Ps. 695,728 Ps. 190,633 Ps. 3,051,088 Ps. — Ps. 3,937,449 Ps. 2,659,322 Loan consumer portfolio 998,390 890,556 1,553,365 — 3,442,311 2,456,791 Loan mortgage portfolio 35,187 73,461 148,595 — 257,243 130,882 Loan microcredit portfolio 23,348 11,962 52,867 — 88,177 74,167 Loan financial leasing portfolio 72,221 30,434 368,352 — 471,007 297,319 Total loan portfolio Ps. 1,824,874 Ps. 1,197,046 Ps. 5,174,267 Ps. — Ps. 8,196,187 Ps. 5,618,481 Investments in debt securities at amortized cost 71 — — — 71 — Other accounts receivable 19,700 11,561 66,327 159,303 256,891 226,862 Total loss allowance financial assets at amortized cost Ps. 1,844,645 Ps. 1,208,607 Ps. 5,240,594 Ps. 159,303 Ps. 8,453,149 Ps. 5,845,343 Investments in debt securities at FVOCI 20,757 31,980 46,280 — 99,017 71,708 Loan commitments and financial guarantee contracts 40,715 14,358 4,355 — 59,428 29,675 Total loss allowance Ps. 1,906,117 Ps. 1,254,945 Ps. 5,291,229 Ps. 159,303 Ps. 8,611,594 Ps. 5,946,726 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2 (2.5) (B).
Disclosure of detailed information about reconciliation of changes in allowance account for credit losses of financial assets [Text Block]	Financial Commercial Consumer Mortgage Microcredit Leasing Total Balance as of December 31, 2015 Ps. 1,679,229 Ps. 1,679,147 Ps. 95,102 Ps. 49,206 Ps. 215,640 Ps. 3,718,324 Allowance of the period charged to profit or loss 1,522,077 3,088,950 75,059 72,917 225,498 4,984,501 Recovery of provisions with partial payment to profit or loss (857,465) (976,258) (37,863) (18,119) (162,033) (2,051,738) Charge-offs of the year (495,326) (1,759,896) (15,828) (28,703) (55,234) (2,354,987) Exchange differences (33,571) (9,118) 7,630 (12,164) 12,567 (34,656) Balance as of December 31, 2016 Ps. 1,814,944 Ps. 2,022,825 Ps. 124,100 Ps. 63,137 Ps. 236,438 Ps. 4,261,444 Allowance of the period charged to profit or loss 1,825,905 3,403,092 81,189 64,627 222,043 5,596,856 Recovery of provisions with partial payment to profit or loss (584,091) (780,874) (28,051) (29,237) (112,671) (1,534,924) Charge-offs of the year (400,653) (2,165,857) (45,918) (24,360) (46,754) (2,683,542) Sale of portfolio — (24,503) — — — (24,503) Exchange differences 3,217 2,108 (438) — (1,737) 3,150 Balance as of December 31, 2017 Ps. 2,659,322 Ps. 2,456,791 Ps. 130,882 Ps. 74,167 Ps. 297,319 Ps. 5,618,481
Disclosure of impairment of assets [text block]	December 31, 2017 Gross balance of financial assets for credit portfolio: Commercial Consumer Mortgage Microcredit Financial Leasing Total Loans assessed individually (1) Ps. 49,846,935 Ps. 51,768 Ps. 14,934 Ps. — Ps. 5,444,122 Ps. 55,357,759 Loans assessed collectively 39,689,559 50,104,363 15,088,599 409,688 5,722,808 111,015,017 Total gross value of portfolio Ps. 89,536,494 Ps. 50,156,131 Ps. 15,103,533 Ps. 409,688 Ps. 11,166,930 Ps. 166,372,776 Financial Impairment provision: Commercial Consumer Mortgage Microcredit Leasing Total Loans assessed individually Ps. 1,363,315 Ps. 70 Ps. 781 Ps. — Ps. 126,867 Ps. 1,491,033 Loans assessed collectively 1,296,007 2,456,721 130,101 74,167 170,452 4,127,448 Total impairment provision Ps. 2,659,322 Ps. 2,456,791 Ps. 130,882 Ps. 74,167 Ps. 297,319 Ps. 5,618,481 (1) Loans individually evaluated for impairment that are not considered impaired, additionally are evaluated collectively for impairment according to historical losses experience adjusted to reflect current economic conditions. Portfolio of impaired loans assessed individually for impairment The detailed information as of December 31, 2017 as follows: December 31, 2017 Gross Amount Registered Collateral Guarantees Allowance Recognized Without recognized provision Commercial Ps. 180,527 Ps. 242,366 Ps. — Financial leasing 186,725 564,540 — Subtotal Ps. 367,252 Ps. 806,906 Ps. — With recognized provision Commercial Ps. 3,972,638 Ps. 228,667 Ps. 1,363,315 Consumer 233 — 70 Residential mortgage 1,907 — 781 Financial leasing 599,747 161,309 126,867 Subtotal Ps. 4,574,525 Ps. 389,976 Ps. 1,491,033 Totals Commercial 4,153,165 471,033 1,363,315 Consumer 233 — 70 Residential mortgage 1,907 — 781 Financial leasing 786,472 725,849 126,867 Total Ps. 4,941,777 Ps. 1,196,882 Ps. 1,491,033
Disclosure of detailed information about portfolio of loans assessed individually for impairment [Text Block]	December 31, 2018 Gross Amount Registered Collateral Guarantees Allowance Recognized Without recognized provision Commercial Ps. 85,531 Ps. 126,642 Ps. — Financial leasing 115,881 320,797 — Subtotal Ps. 201,412 Ps. 447,439 Ps. — With recognized provision Commercial Ps. 5,788,368 Ps. 511,605 Ps. 2,195,263 Consumer 2,604 560 1,813 Financial leasing 659,499 243,023 231,056 Subtotal Ps. 6,450,471 Ps. 755,188 Ps. 2,428,132 Totals Commercial 5,873,899 638,247 2,195,263 Consumer 2,604 560 1,813 Financial leasing 775,380 563,820 231,056 Total Ps. 6,651,883 Ps. 1,202,627 Ps. 2,428,132
Disclosure Of Detailed Information About Movements Of Allowance [Text Block]	December 31, 2017 December 31, 2016 Balance at the beginning of the year Ps. 195,078 Ps. 194,450 Provision charged to profit or loss 98,024 105,942 Recovery for partial payments from the clients (18,383) (32,514) Charge-offs (48,171) (72,120) Exchange gains (losses) in foreign currency 314 (680) Balance at the end of the year Ps. 226,862 Ps. 195,078
Disclosure of Detailed Information on Credit Portfolio by Economic Sector [Text Block]	Sector December 31, 2018 % December 31, 2017 % Consumer services Ps. 78,976,887 45 % Ps. 70,947,936 43 % Commercial services 41,160,951 23 % 38,788,363 23 % Construction 11,093,895 6 % 10,313,655 7 % Food, beverage and tobacco 8,128,767 5 % 8,165,975 5 % Transportation and communications 7,117,087 4 % 7,566,374 5 % Public services 6,123,390 4 % 5,421,328 3 % Chemical production 5,614,918 3 % 5,672,310 3 % Other industrial and manufacturing products 4,859,538 3 % 4,469,427 3 % Agricultural 4,201,518 2 % 3,940,981 2 % Government 3,868,987 2 % 3,579,838 2 % Trade and tourism 2,353,139 1 % 2,182,437 1 % Other 2,288,046 1 % 2,946,964 2 % Mining products and oil 1,094,718 1 % 2,377,188 1 % Total of each economic sector Ps. 176,881,841 100 % Ps. 166,372,776 100 %
Disclosure of Detailed Information on Credit Portfolio by Geographical Area [Text Block]	December 31, 2018 Commercial Consumer Mortgages Microcredit Finance leases (1) Total Colombia Ps. 63,694,588 Ps. 35,912,585 Ps. 6,672,612 Ps. 425,697 Ps. 10,466,569 Ps. Costa Rica 4,860,338 5,190,354 4,343,247 — 802,601 Panamá 5,464,198 5,618,362 2,381,741 — 109,927 Guatemala 5,536,851 2,593,606 1,617,341 — 31,786 Honduras 3,528,929 2,085,005 857,799 — 3,247 El Salvador 2,214,411 2,636,766 969,731 — 6,630 United States 4,549,526 742 — — — Nicaragua 1,947,643 1,163,054 436,891 — 5,416 Other countries 753,541 107 — — — Total gross loan portfolio Ps. 92,550,025 Ps. 55,200,581 Ps. 17,279,362 Ps. 425,697 Ps. 11,426,176 Ps. 176,881,841 (1) See Note 4.1.1 December 31, 2017 Commercial Consumer Mortgages Microcredit Finance leases (1) Total Colombia Ps. 61,960,497 Ps. 32,878,650 Ps. 5,674,640 Ps. 409,688 Ps. 10,289,156 Ps. 111,212,631 Costa Rica 3,833,906 4,848,689 3,868,474 — 712,686 13,263,755 Panamá 4,877,646 4,852,539 2,154,504 — 121,838 12,006,527 Guatemala 4,807,329 2,264,791 1,365,197 — 24,200 8,461,517 United States 6,433,333 736 10 — — 6,434,079 Honduras 2,794,260 1,736,449 740,113 — 3,251 5,274,073 El Salvador 1,746,193 2,267,152 897,404 — 9,747 4,920,496 Nicaragua 2,228,138 1,307,042 403,191 — 6,052 3,944,423 Other countries 855,192 83 — — — 855,275 Total gross loan portfolio Ps. 89,536,494 Ps. 50,156,131 Ps. 15,103,533 Ps. 409,688 Ps. 11,166,930 Ps. 166,372,776 (1) See Note 4.1.1
Disclosure of detailed information about classification of loan portfolio by type of currency [Text Block]	December 31, 2018 Colombian Pesos Foreign currency Total Commercial Ps. 57,651,220 Ps. 34,898,805 Ps. 92,550,025 Consumer 35,848,422 19,352,159 55,200,581 Residential mortgage 6,672,423 10,606,939 17,279,362 Microcredit 425,697 — 425,697 Financial leasing (1) 9,260,989 2,165,187 11,426,176 Total gross loan portfolio Ps. 109,858,751 Ps. 67,023,090 Ps. 176,881,841 December 31, 2017 Colombian Pesos Foreign currency Total Commercial Ps. 56,516,054 Ps. 33,020,440 Ps. 89,536,494 Consumer 32,822,355 17,333,776 50,156,131 Residential mortgage 5,674,639 9,428,894 15,103,533 Microcredit 409,688 — 409,688 Financial leasing (1) 9,132,401 2,034,529 11,166,930 Total gross loan portfolio Ps. 104,555,137 Ps. 61,817,639 Ps. 166,372,776 (1) See Note 4.1.1
Disclosure of Detailed Information about Investment in Debt Securities by Location [Table Text Block]	As of December 31, 2018 2017 Colombia Ps. 18,047,109 Ps. 15,887,882 United States of America 2,412,555 1,801,922 Costa Rica 1,674,052 1,401,805 Guatemala 999,544 964,201 Panama 813,711 1,052,712 Honduras 586,275 531,227 Brazil 424,339 698,573 Peru 352,795 331,874 Chile 150,239 223,648 Multilateral – Bladex (Foreign Trade Bank of Latin America) 87,500 73,088 Nicaragua 64,918 148,784 El Salvador 40,890 79,850 Multilateral – Andean Development Corporation (Corporacion Andina de Fomento) 31,156 31,798 Mexico 13,761 24,695 BAC San Jose Liquid Fund (BAC San Jose Fondo Liquido – Riesgo Pais Mixto) 3,763 15,494 Netherlands — 31,760 Puerto Rico — 23,830 Switzerland — 16,558 Total investments Ps. 25,702,607 Ps. 23,339,701
Disclosure of Detailed Information about Investment in Debt Securities by Sovereign Risk [Table Text Block]	Below is the detail of Grupo Aval’s sovereign debt portfolio issued by Central Governments per country: December 31, 2018 December 31, 2017 % % Investment grade (1) Colombia Ps. 80.27 % Ps. 82.81 % Panama 550,674 3.45 % 617,126 4.78 % USA 415,412 2.61 % 57,120 0.44 % Chile 32,999 0.20 % 24,932 0.19 % Ps. 86.53 % Ps. 88.22 % Speculative (2) Costa Rica 1,437,850 9.02 % 1,018,737 7.87 % Honduras 402,275 2.52 % 372,237 2.88 % Guatemala 265,932 1.67 % 56,808 0.44 % El Salvador 40,890 0.26 % 76,682 0.59 % Nicaragua — 0.00 % 550 0.00 % Ps. 2,146,947 13.47 % Ps. 1,525,014 11.78 % Ps. 100.00 % Ps. 100.00 % Below is the detail of Grupo Aval’s debt portfolio issued by Central Banks: December 31, 2018 December 31, 2017 % % Investment Grade (1) Ps. — 0 % Ps. — 0 % Speculative (2) Guatemala Ps. 686,970 60.02 % 876,271 63.00 % Costa Rica 208,766 18.24 % Ps. 207,474 14.92 % Honduras 184,000 16.07 % 158,990 11.43 % Nicaragua 64,918 5.67 % 148,234 10.66 % Ps. 1,144,654 100.00 % Ps. 1,390,969 100.00 % Total sovereign risk Ps. 17,087,101 Ps. 14,331,729 (1) Investment grade includes the risk rating of Fitch Ratings Colombia S.A o F1+ to F3, BRC of Colombia from BRC 1+ to BRC 3 and Standard & Poor’s from A1 to A3. Speculative or non-investment grade level includes the risk rating of Fitch Ratings Colombia S.A. from B to E, BRC de Colombia from BRC 4 to BRC 6 and Standard & Poor’s from B1 to D.
Disclosure of Detailed Information on Credit Portfolio by restructuring [Text Block]	Restructured loans December 31, 2018 December 31, 2017 Local Ps. 2,693,018 Ps. 2,674,637 Foreign 1,275,565 643,756 Total restructured Ps. 3,968,583 Ps. 3,318,393
Disclosure of Detailed Information on Foreclosed Assets [Text Block]	December 31, 2018 December 31, 2017 Foreclosed assets received Ps. 188,245 Ps. 106,030 Foreclosed assets sold 52,785 64,038
Disclosure Of Detailed Information About Commitments In Unused Lines Of Credit [Text Block]	Loan commitments and financial guarantee contracts December 31, 2018 December 31, 2017 Notional amount Notional amount Guarantees Ps. 3,446,601 Ps. 3,495,921 Unused letters of credit 1,186,691 1,177,697 Unused limits of overdrafts 306,740 75,225 Unused credit card limits 20,816,061 18,025,620 Other 5,169,588 4,448,775 Total Ps. 30,925,681 Ps. 27,223,238
Disclosure Of Detailed Information About Credit Commitments By Currency [Text Block]	December 31, 2018 December 31, 2017 Colombian Pesos Ps. 14,918,915 Ps. 10,271,676 U.S. dollars 12,885,921 16,589,399 Euro 2,892,670 85,887 Other 228,175 276,276 Total Ps. 30,925,681 Ps. 27,223,238
Disclosure of Break Down of Financial Assets and Liabilities Exposed to Trading Risk [Table Text Block]	Account December 31, 2018 December 31, 2017 (1) Financial assets Debt financial assets Trading Ps. 3,762,978 Ps. 2,650,536 Investments in debt securities at FVTPL 31,256 — Investments in debt securities at FVOCI (at 2017 Available for sale (1) ) 18,935,757 17,790,127 Total debt securities Ps. 22,729,991 Ps. 20,440,663 Derivative instruments Ps. 768,686 Ps. 328,392 Hedging derivatives 30,138 55,261 798,824 383,653 Total financial assets Ps. 23,528,815 Ps. 20,824,316 Liabilities Derivative instruments 811,305 298,665 Hedging derivatives 195,539 13,464 Total financial liabilities 1,006,844 312,129 Net position Ps. 22,521,971 Ps. 20,512,187 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5
Disclosure of Detailed Information about Financial Subsidiaries Risk [Text Block]	December 31, 2018 December 31, 2017 Basis points of Basis points of Bank Value regulatory capital Value regulatory capital Banco Bogotá 924,767 116 829,846 109 Banco de Occidente 189,871 75 184,223 56 Banco Popular 162,888 93 125,265 79 Banco AV Villas 37,942 41 18,394 20 Corficolombiana 219,656 12 159,214 9
Disclosure of Detailed Information about Foreign Currency Assets and Liabilities [Text Block]	December 31, 2018 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial assets Cash and cash equivalents 4,859 1,075 19,297,896 Investments in debt securities at fair value through profit or loss 121 15 441,801 Investments in debt securities at fair value through OCI 2,201 589 9,068,739 Investments in debt securities at amortized cost 10 — 32,321 Loan portfolio financial assets at amortized cost 15,923 4,706 67,023,090 Trading derivatives 222 1 725,433 Hedge derivatives 9 — 30,138 Other accounts receivable 246 176 1,370,820 Total financial assets 23,591 6,562 97,990,238 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial liabilities Trading derivatives 236 3 776,162 Hedge derivatives 60 — 195,539 Customer deposits 14,914 5,077 64,971,825 Financial obligations 9,457 666 32,899,230 Accounts payable 442 — 1,437,447 Total financial liabilities 25,109 5,746 100,280,203 Net financial asset (liability) position (1,518) 816 (2,289,965) December 31, 2017 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial assets Cash and cash equivalents 3,541 1,052 13,706,552 Investments in debt securities held for trading 134 24 470,430 Investments in securities available-for-sale 2,564 631 9,532,417 Investments in debt securities held-to-maturity 17 — 50,695 Loan portfolio financial assets at amortized cost 16,217 4,500 61,817,662 Trading derivatives 91 1 274,691 Hedge derivatives 19 — 55,261 Other accounts receivable 161 202 1,083,678 Total financial assets 22,744 6,410 86,991,386 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial liabilities Trading derivatives 85 1 256,865 Hedge derivatives 5 — 13,464 Customer deposits 14,572 4,909 58,087,999 Financial obligations 8,624 690 27,808,291 Accounts payable 437 — 1,304,929 Total financial liabilities 23,723 5,600 87,471,548 Net financial asset (liability) position (979) 810 (480,162)
Disclosure of detailed information about requested percentage of deposits to be maintained as reserves in each country [Text Block]	Requested Percentage Country Details % Colombia Checking account and Savings accounts 11% Time deposits < 18 months 4.5% Guatemala Deposits and Capital raising 11.6% El Salvador 1st Demand deposits (1) 25% 2nd Demand deposits (2) 25% 3rd Debt securities 50% Honduras Demand deposits 12% Mandatory investment in local currency 5% Mandatory investment in foreign currency 12% Nicaragua Daily, Liabilities in local and foreign currency 12% Biweekly, Liabilities in local and foreign currency 14% Costa Rica Deposits in local and foreign currency 15% Capital raising in local and foreign currency 15% (1) This refer to demand deposits in Central Bank or overseas banks. (2) This refer to demand deposits in Central Bank, overseas banks or debt securities issue by the Central Bank.
Discolsure of Sensitivity Analysis of Foreign Exchange Effect [Table Text Block]	December 31, 2018 Increase Decrease Ps.100 per U.S. Ps.100 per U.S. dollar dollar Equity Ps. (33,579) Ps. 33,579 Foreign exchange effect on profit before taxes (53,300) 53,300 December 31, 2017 Increase Decrease Ps.100 per U.S. Ps.100 per U.S. dollar dollar Equity Ps. 9,205 Ps. (9,205) Foreign exchange effect on profit before taxes 15,342 (15,342)
Disclosure Of Break Down Of Investments From Initial Investment [Table Text Block]	At December 31, 2018 2017 Investment Investment subject to Percentage subject to Regulatory Regulatory of Regulatory Regulatory Percentage of VaR VaR portfolio VaR VaR portfolio More than 36 months 45,706 6,719 100 % 67,538 9,928 100 % Total 45,706 6,719 100 % 67,538 9,928 100 %
Schedule of Interest Rate Risk on Assets and Liabilities [Text Block]	December 31, 2018 Less than From one to From six to More than a Non- Assets one month six months twelve months year interest Total Cash and cash equivalents Ps. 3,110,667 Ps. — Ps. — Ps. — Ps. 25,290,616 Ps. 28,401,283 Investments in debt securities at FVTPL 25,077 376,999 1,216,834 2,175,324 — 3,794,234 Investments in debt securities at FVOCI 131,497 2,056,389 1,163,367 15,584,504 — 18,935,757 Investments in debt securities at amortized cost 671,047 951,850 1,348,691 1,028 — 2,972,616 Service concession arrangements — — — 2,488,414 — 2,488,414 Commercial loans and leases 28,546,532 29,463,725 9,612,217 34,786,503 — 102,408,977 Consumer loans and leases 10,538,797 7,975,944 2,566,425 34,373,898 — 55,455,064 Mortgages and housing leases 7,649,242 1,771,712 419,518 8,751,631 — 18,592,103 Microcredit loans and leases 31,729 17,956 38,304 337,708 — 425,697 Other accounts receivable — — — 3,043,403 4,025,717 7,069,120 Total Assets Ps. 50,704,588 Ps. 42,614,575 Ps. 16,365,356 Ps. Ps. 29,316,333 Ps. Less than From one to From six to More than a Non- Liabilities one month six months twelve months year interest Total Checking accounts Ps. 22,377,653 Ps. — Ps. — Ps. — Ps. 17,325,225 Ps. 39,702,878 Time deposits 9,741,623 28,546,101 15,447,825 13,117,463 — 66,853,012 Saving deposits 36,523,899 20,697,540 — — . — 57,221,439 Other deposits — — — — 582,122 582,122 Interbank and overnight funds 6,099,084 714,994 — — — 6,814,078 Borrowing from banks and other 1,566,524 11,497,277 1,164,075 6,382,890 — 20,610,766 Long-term debt 73,565 3,369,988 656,291 16,040,506 — 20,140,350 Borrowing from development entities 563,370 259,194 1,607,273 1,216,959 — 3,646,796 Total Liabilities Ps. 76,945,718 Ps. 65,085,094 Ps. 18,875,464 Ps. 36,757,818 Ps. 17,907,347 Ps. 215,571,441 December 31, 2017 Less than From one to From six to More than a Non- Assets one month six months twelve months year interest Total Cash and cash equivalents Ps. 2,378,528 Ps. — Ps. — Ps. — Ps. 19,958,310 Ps. 22,336,838 Debt securities held for trading 169,328 497,031 580,030 1,404,147 — 2,650,536 Debt securities available-for-sale 495,315 1,537,630 1,300,390 14,456,792 — 17,790,127 Debt securities held-to-maturity 722,026 832,703 1,338,712 5,598 — 2,899,039 Service concession arrangements — — — 2,282,611 — 2,282,611 Commercial loans and leases 21,760,032 43,162,885 7,089,736 27,416,241 — 99,428,894 Consumer loans and leases 10,003,247 8,953,299 1,731,816 29,694,533 — 50,382,895 Mortgages and housing leases 3,539,706 5,354,545 404,417 6,852,631 — 16,151,299 Microcredit loans and leases 26,553 18,028 38,197 326,910 — 409,688 Other accounts receivable — — — 890,896 3,575,238 4,466,134 Total Assets Ps. 39,094,735 Ps. 60,356,121 Ps. 12,483,298 Ps. 83,330,359 Ps. 23,533,548 Ps. 218,798,061 Less than From one to From six to More than a Non- Liabilities one month six months twelve months year interest Total Checking accounts Ps. 20,597,270 Ps. — Ps. — Ps. — Ps. 15,420,332 Ps. 36,017,602 Time deposits 12,733,132 24,212,202 13,456,116 12,214,713 — 62,616,163 Saving deposits 55,778,677 — — — — 55,778,677 Other deposits — — — — 472,782 472,782 Interbank and overnight funds 4,836,246 134,184 — — — 4,970,430 Borrowing from banks and other 3,249,799 5,801,906 2,200,184 6,953,431 — 18,205,320 Long-term debt 123,261 6,500,197 416,407 12,062,331 — 19,102,196 Borrowing from development entities 523,786 1,353,790 93,154 1,027,360 — 2,998,090 Total Liabilities Ps. 97,842,171 Ps. 38,002,279 Ps. 16,165,861 Ps. 32,257,835 Ps. 15,893,114 Ps. 200,161,260
Disclosure of Breakdown of Interest Bearing Assets and Liabilities, by Interest Rate Type and Maturity [Table Text Block]	December 31, 2018 Under one year Over one year Non- Assets Variable Fixed Variable Fixed interest Total Cash due from banks and Central Bank Ps. 2,014,270 Ps. 1,096,397 Ps. — Ps. — Ps. 25,290,616 Ps. 28,401,283 Investments in debt securities at FVTPL 159,486 1,459,424 231,620 1,943,704 — 3,794,234 Investments in debt securities at FVOCI 13,532 3,337,721 872,882 14,711,622 — 18,935,757 Investments in debt securities at amortized cost 1,349,722 725,704 896,162 1,028 — 2,972,616 Service concession arrangements — — 2,488,414 — — 2,488,414 Commercial loans and leases 44,094,950 4,259,106 51,184,839 2,870,082 — 102,408,977 Consumer loans and leases 1,099,251 14,713,486 10,482,629 29,159,698 — 55,455,064 Mortgages and housing leases 53,296 330,277 10,924,349 7,284,181 — 18,592,103 Microcredit loans and leases 2,698 223,954 3,582 195,463 — 425,697 Other account receivables 397 — 2,989,292 53,714 4,025,717 7,069,120 Total Assets Ps. 48,787,602 Ps. 26,146,069 Ps. 80,073,769 Ps. 56,219,492 Ps. 29,316,333 Ps. 240,543,265 Under one year Over one year Non- Liabilities Variable Fixed Variable Fixed interest Total Checking accounts Ps. — Ps. 22,377,653 Ps. — Ps. — Ps. 17,325,225 Ps. 39,702,878 Time deposits 11,332,638 33,720,396 6,801,559 14,998,419 - 66,853,012 Saving deposits 16,485,565 40,735,874 — — . - 57,221,439 Other deposits — — — — 582,122 582,122 Interbank and overnight funds 3,492,343 3,321,735 — — — 6,814,078 Borrowing from banks and other 3,406,673 9,984,328 2,899,475 4,320,290 — 20,610,766 Long-term debt 749,442 804,281 6,650,249 11,936,378 — 20,140,350 Borrowing from development entities 638,286 149,508 2,852,178 6,824 — 3,646,796 Total Liabilities Ps. 36,104,947 Ps. 111,093,775 Ps. 19,203,461 Ps. 31,261,911 Ps. 17,907,347 Ps. 215,571,441 December 31, 2017 Under one year Over one year Non- Assets Variable Fixed Variable Fixed interest Total Cash due from banks and Central Bank Ps. — Ps. 2,378,528 Ps. — Ps. — Ps. 19,958,310 Ps. 22,336,838 Debt securities held for trading 140,796 1,153,157 331,589 1,024,994 — 2,650,536 Debt securities available-for-sale 44,213 3,289,129 2,128,817 12,327,968 — 17,790,127 Debt securities held-to-maturity 2,841,714 51,727 — 5,598 — 2,899,039 Service concession arrangements — — 2,282,611 — — 2,282,611 Commercial loans and leases 37,026,675 10,240,136 49,061,715 3,100,368 — 99,428,894 Consumer loans and leases 942,057 15,282,475 9,725,059 24,433,304 — 50,382,895 Mortgages and housing leases 74,604 477,646 9,695,527 5,903,522 — 16,151,299 Microcredit loans and leases 2,266 207,099 4,550 195,773 — 409,688 Other account receivables — — 842,173 48,723 3,575,238 4,466,134 Total Assets Ps. 41,072,325 Ps. 33,079,897 Ps. 74,072,041 Ps. 47,040,250 Ps. 23,533,548 Ps. 218,798,061 Under one year Over one year Non- Liabilities Variable Fixed Variable Fixed interest Total Checking accounts Ps. — Ps. 20,597,270 Ps. — Ps. — Ps. 15,420,332 Ps. 36,017,602 Time deposits 10,785,649 33,777,955 7,605,647 10,446,912 — 62,616,163 Saving deposits 9,156,432 46,622,245 — — . — 55,778,677 Other deposits — — — — 472,782 472,782 Interbank and overnight funds 106,495 4,863,935 — — — 4,970,430 Borrowing from banks and other 4,327,736 5,026,923 3,900,072 4,950,589 — 18,205,320 Long-term debt 534,852 851,809 6,772,587 10,942,948 — 19,102,196 Borrowing from development entities 373,707 11,399 2,608,953 4,031 — 2,998,090 Total Liabilities Ps. 25,284,871 Ps. 111,751,536 Ps. 20,887,259 Ps. 26,344,480 Ps. 15,893,114 Ps. 200,161,260
Disclosure of detailed information about the breakdown by time bands of the Liquid Assets and the Liquidity Risk Indicator [Text Block]	December 31, 2018 Liquid assets available at the end From 1 to 7 days From 1 to 30 days From 31 to 90 Bank of the year (1) (2) (2) days (2) Banco de Bogotá 10,936,886 10,370,295 8,892,523 321,897 Banco Occidente 5,913,723 5,244,524 4,185,759 1,631,575 Banco Popular 3,622,232 3,305,221 2,505,573 164,075 Banco AV Villas 2,035,362 1,724,944 1,304,447 (37,659) Corficolombiana 1,131,464 585,045 386,081 (159,983) December 31, 2017 Liquid assets available at the end From 1 to 7 days From 1 to 30 days From 31 to 90 Bank of the year (1) (2) (2) days (2) Banco de Bogotá 9,883,150 9,446,780 7,161,523 1,082,066 Banco Occidente 5,685,570 5,470,184 4,552,769 1,346,442 Banco Popular 2,905,827 2,629,285 1,726,392 (256,330) Banco AV Villas 1,776,252 1,701,634 1,506,404 478,347 Corficolombiana 1,603,609 1,059,878 649,166 361,394 (1) Liquid assets are the sum of the assets that are readily convertible to cash. These assets include cash on hand and bank deposits including Central Bank deposits, securities or in money market transactions and have not been used in borrowing operations in the money market. It also includes investments coupons that have been transferred to the entity in debt securities recorded at fair value, investments in mutual funds with no withdrawal restrictions, and debt securities carried at amortized cost, provided they are legally required or “mandatory” investments, subscribed in the primary market and that can be used for money market operations. The value of the liquid assets mentioned above, is calculated at the fair value market price on the date of the assessment. (2) This amount is the remaining value of the liquid assets in the specified time period, or the LRI, that is calculated as the difference among the liquid assets and the liquidity requirement. The liquidity requirement is the difference of contractual cash inflows and contractual and non-contractual cash outflows during the period according to the LRI methodology.
Disclosure of detailed information about the breakdown by contractual undiscounted cash flows of the financial assets and liabilities including projected contractual interest receivable and payable [Text Block]	December 31, 2018 Less than From one to six From six to twelve More than Assets one month months months a year Total Cash and cash equivalents Ps. Ps. — Ps. — Ps. — Ps. 28,450,114 Investments in debt securities at FVTPL 576,072 350,307 1,026,669 2,018,209 3,971,257 Investments in debt securities at FVOCI 163,389 2,272,601 1,547,078 18,292,502 22,275,570 Investments in debt securities at amortized cost 1,691,200 447,674 866,184 1,019 3,006,077 Commercial loans and leases 12,524,966 24,196,186 13,982,791 58,838,873 109,542,816 Consumer loans and leases 6,218,323 12,707,647 7,369,756 45,240,501 71,536,227 Mortgages and housing leases 297,155 1,376,279 1,626,730 32,061,546 35,361,710 Microcredit loans and leases 58,093 125,474 128,180 256,278 568,025 Trading derivatives 476,088 244,385 22,483 14,216 757,172 Hedging derivatives 28,941 4,083 — — 33,024 Other accounts receivable 4,260,837 — 397 2,929,814 7,191,048 Other assets 631,231 — — — 631,231 Total Assets Ps. 55,376,409 Ps. 41,724,636 Ps. 26,570,268 Ps. 159,652,958 Ps. Less than From one to six From six to twelve More than Liabilities one month months months a year Total Checking accounts Ps. 39,708,169 Ps. — Ps. — Ps. — Ps. 39,708,169 Time Deposits 8,375,127 26,030,729 15,605,292 20,730,824 70,741,972 Saving deposits 57,443,560 — — — 57,443,560 Other deposits 582,122 — — — 582,122 Interbank and overnight funds 6,813,329 — — — 6,813,329 Borrowing from banks and other 1,665,739 8,779,185 4,490,249 7,248,223 22,183,396 Long-term debt 138,362 904,752 1,896,186 21,493,625 24,432,925 Borrowing from development entities 145,712 578,545 423,122 3,189,314 4,336,693 Trading derivatives 515,697 236,390 20,305 27,955 800,347 Hedging derivatives 182,849 6,587 6,718 — 196,154 Other liabilities 6,884,154 896,154 67,042 299 7,847,649 Total Liabilities Ps. 122,454,820 Ps. 37,432,342 Ps. 22,508,914 Ps. 52,690,240 Ps. 235,086,316 Less than one From one to From six to More than a Commitments Loans month six months twelve months year Total Guarantees Ps. 2,297,206 Ps. 9,742 Ps. 4,222 Ps. 2,370 Ps. 2,313,540 Standby letters of credit 928,585 208 2 — 928,795 Overdraft facility 306,740 — — — 306,740 Standby credit card facility 20,409,059 — — — 20,409,059 Undrawn approved loans 3,612,600 — — — 3,612,600 Others 394,688 — — — 394,688 Total Commitments Loans Ps. 27,948,878 Ps. 9,950 Ps. 4,224 Ps. 2,370 Ps. 27,965,422 December 31, 2017 Less than one From one to From six to More than a Assets month six months twelve months year Total Cash and cash equivalents Ps. 23,420,225 Ps. — Ps. — Ps. — Ps. 23,420,225 Investments in debt securities held for trading 913,190 310,701 619,023 1,316,239 3,159,152 Investments in securities available-for-sale 622,057 1,968,847 1,810,606 18,818,121 23,219,631 Investments in debt securities held-to-maturity 649,833 934,821 1,576,581 5,946 3,167,181 Commercial loans and leases 14,641,827 30,985,969 15,378,967 66,048,385 127,055,148 Consumer loans and leases 4,524,515 12,114,983 7,186,854 34,943,876 58,770,228 Mortgages and housing leases 263,314 1,228,796 1,434,850 28,060,685 30,987,645 Microcredit loans and leases 49,932 117,240 119,397 261,625 548,194 Trading derivatives 249,305 103,245 33,859 29,329 415,738 Hedging derivatives 52,122 2,657 1,752 — 56,531 Other accounts receivable 3,745,261 238 163 1,013,167 4,758,829 Other assets 482,636 — — — 482,636 Total Assets Ps. 49,614,217 Ps. 47,767,497 Ps. 28,162,052 Ps. 150,497,373 Ps. 276,041,139 Less than one From one to From six to More than a Liabilities month six months twelve months year Total Checking accounts Ps. 40,840,666 Ps. — Ps. — Ps. — Ps. 40,840,666 Time Deposits 9,583,488 21,734,913 15,150,201 21,094,851 67,563,454 Saving deposits 58,656,060 — — — 58,656,060 Other deposits 471,645 — — 34,275 505,920 Interbank and overnight funds 4,274,983 166,891 — — 4,441,874 Borrowing from banks and other 1,963,636 6,359,672 4,262,502 8,417,134 21,002,945 Long-term debt 52,468 5,780,195 531,963 18,902,134 25,266,760 Borrowing from development entities 36,954 258,909 301,372 4,338,700 4,935,935 Trading derivatives 120,429 377,898 3,918 7,107 509,351 Hedging derivatives 13,345 119 — — 13,464 Other Liabilities 6,517,069 58,605 50,583 — 6,626,258 Total Liabilities Ps. 122,530,743 Ps. 34,737,201 Ps. 20,300,540 Ps. 52,794,200 Ps. 230,362,686 Less than one From one to From six to More than a Commitments Loans month six months twelve months year Total Guarantees Ps. 2,591,109 Ps. 2,158 Ps. — Ps. 3,066 Ps. 2,596,333 Standby letters of credit 1,080,986 154,068 — 56 1,235,110 Overdraft facility 75,225 — — — 75,225 Standby credit card facility 19,816,305 — — — 19,816,305 Undrawn approved loans 4,468,837 — — — 4,468,837 Others 242,910 — — — 242,910 Total Commitments Loans Ps. 28,275,372 Ps. 156,226 Ps. — Ps. 3,122 Ps. 28,434,720
Disclosure of detailed information about the calculation of the minimum regulatory capital [Text Block]	December 31, 2018 Banco de Banco AV Regulatory Capital Banco de Bogotá Occidente Banco Popular Villas Corficolombiana Regulatory Capital 17,730,918 3,917,005 2,170,075 1,176,179 3,631,640 Basic ordinary equity 11,655,669 3,166,981 1,648,438 1,106,529 3,381,550 Basic additional equity 6,075,249 750,024 521,637 69,650 250,090 Market risk 10,275,186 1,754,924 1,809,867 421,379 2,440,618 Credit risk 120,604,192 29,405,386 19,624,155 10,759,423 7,834,598 Total assets weighted by risk 130,879,378 31,160,310 21,434,022 11,180,802 10,275,216 Total solvency risk index. 13.55 % 12.57 % 10.12 % 10.52 % 35.34 % Basic solvency risk index. 8.91 % 10.16 % 7.69 % 9.90 % 32.91 % December 31, 2017 Banco de Banco AV Regulatory Capital Banco de Bogotá Occidente Banco Popular Villas Corficolombiana Regulatory Capital 16,749,137 4,007,636 2,090,131 1,195,815 2,666,487 Basic ordinary equity 10,870,598 3,123,860 1,774,823 1,060,749 2,295,929 Basic additional equity 5,878,538 883,776 315,309 135,066 370,558 Market risk 9,220,514 1,660,535 1,391,833 204,852 1,769,041 Total assets weighted by risk 123,708,231 28,165,602 18,452,556 9,493,492 7,246,604 Total solvency risk index. 13.54 % 13.44 % % 12.33 % 36.80 % Basic solvency risk index. 8.79 % 10.47 % % 10.94 % 31.68 %
Colombia
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Economic Scenario for Key Indicators of Credit Risk and Credit Losses [Table Text Block]	2018 2019 Scenario A Scenario B Scenario C Scenario A Scenario B Scenario C Inflation 3.02 % 3.26 % 3.54 % 3.27 % 3.68 % % Interest rates 4.25 % 4.25 % 4.25 % 3.75 % 5.00 % % GDP growth 2.35 % 2.66 % 2.84 % 2.79 % 3.21 % % House prices (1.45) % 1.70 % 4.93 % (3.47) % 2.81 % % Unemployment rate 10.13 % 9.73 % 9.28 % 10.67 % 9.55 % %
Guatemala
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Economic Scenario for Key Indicators of Credit Risk and Credit Losses [Table Text Block]	2019 Scenario A Scenario B Scenario C Inflation 3.23 % 5.16 % 6.67 % Interest rates 0.30 % (0.15) % 0.47 % GDP growth 2.76 % 3.54 % 2.33 % Exchange rate 1.12 % 0.32 % 1.43 %
Honduras
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Economic Scenario for Key Indicators of Credit Risk and Credit Losses [Table Text Block]	2019 Scenario A Scenario B Scenario C Inflation 4.69 % 4.22 % 5.02 % Interest rates 0.30 % (1.49) % 0.20 % GDP growth 3.46 % 4.41 % 3.17 % Exchange rate 4.15 % 3.92 % 4.35 %
El Salvador
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Economic Scenario for Key Indicators of Credit Risk and Credit Losses [Table Text Block]	2019 Scenario A Scenario B Scenario C Inflation 1.40 % 5.94 % 1.40 % Interest rates 0.11 % 0.21 % 0.24 % GDP growth 2.50 % 4.64 % 1.34 %
Nicaragua
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Economic Scenario for Key Indicators of Credit Risk and Credit Losses [Table Text Block]	2019 Scenario A Scenario B Scenario C Inflation 2.68 % 6.62 % 9.08 % Interest rates 0.63 % 1.69 % 1.04 % GDP growth 1.32 % (3.64) % (6.78) % Exchange rate 5.68 % 7.00 % 6.26 %
Costa Rica
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Economic Scenario for Key Indicators of Credit Risk and Credit Losses [Table Text Block]	2019 Scenario A Scenario B Scenario C Inflation 2.20 % 3.62 % 11.41 % Interest rates 0.20 % 7.72 % 9.63 % GDP growth 3.30 % 2.11 % (0.95) % Exchange rate 1.71 % 6.43 % 18.35 %
Panama
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Economic Scenario for Key Indicators of Credit Risk and Credit Losses [Table Text Block]	2019 Scenario A Scenario B Scenario C Inflation 1.79 % 2.00 % 3.68 % Interest rates 0.44 % 0.11 % 0.45 % GDP growth 2.16 % 4.60 % 4.85 %
Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Detailed Information about Financial Subsidiaries Risk by Type [Text Block]	Maximum, Minimum and Average VaR Values December 31, 2018 Minimum Average Maximum Period end Interest rate 352,595 387,828 420,474 Exchange rate 234,509 263,363 298,257 Shares 6,647 7,605 8,335 Mutual funds 200,510 226,030 266,906 VaR portfolio 828,688 884,826 969,931 Maximum, Minimum and Average VaR Values December 31, 2017 Minimum Average Maximum Period end Interest rate 309,368 342,043 400,828 Exchange rate 12,424 52,925 304,429 Shares 7,234 7,068 8,099 Mutual funds 187,698 184,582 196,197 VaR portfolio 523,306 586,619 829,846
Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Detailed Information about Financial Subsidiaries Risk by Type [Text Block]	Maximum, Minimum and Average VaR Values December 31, 2018 Minimum Average Maximum Period end Interest rate 184,106 199,399 218,732 Exchange rate 595 1,697 3,817 Shares — — — — Mutual funds 2,820 3,849 4,526 VaR portfolio 187,521 204,945 227,074 Maximum, Minimum and Average VaR Values December 31, 2017 Minimum Average Maximum Period end Interest rate 140,044 162,463 184,209 Exchange rate 1,424 3,119 7,034 Shares — — — — Mutual funds 2,580 2,702 2,811 VaR portfolio 145,108 168,284 190,502
Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Detailed Information about Financial Subsidiaries Risk by Type [Text Block]	Maximum, Minimum and Average VaR Values December 31, 2018 Minimum Average Maximum Period end Interest rate 115,829 136,338 154,233 Exchange rate 2,125 3,867 6,135 Shares 929 949 963 Mutual funds 6,583 6,971 10,420 VaR portfolio 126,533 148,125 168,310 Maximum, Minimum and Average VaR Values December 31, 2017 Minimum Average Maximum Period end Interest rate 103,535 115,033 122,910 Exchange rate 4 662 3,329 Shares 945 965 967 Mutual funds 1,019 1,085 1,203 VaR portfolio 105,635 117,745 126,486
Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Detailed Information about Financial Subsidiaries Risk by Type [Text Block]	Maximum, Minimum and Average VaR Values December 31, 2018 Minimum Average Maximum Period end Interest rate 12,884 35,893 48,978 37,115 Exchange rate 0 985 2,738 30 Shares — — — — Mutual funds 177 1,441 4,455 797 VaR portfolio 15,844 38,319 52,166 37,942 Maximum, Minimum and Average VaR Values December 31, 2017 Minimum Average Maximum Period end Interest rate 12,563 37,998 89,381 14,206 Exchange rate — 670 1,572 1,448 Shares — — — — Mutual funds 481 1,394 6,373 2,741 VaR portfolio 15,198 40,061 89,960 18,394
Corficolombiana S.A
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Detailed Information about Financial Subsidiaries Risk by Type [Text Block]	Maximum, Minimum and Average VaR Values December 31, 2018 Minimum Average Maximum Period end Interest rate 187,983 201,515 211,039 208,375 Exchange rate 436 4,490 7,707 436 Shares 10,125 10,370 10,954 10,125 Mutual funds 699 856 1,020 720 VaR portfolio 205,505 217,231 226,727 219,656 Maximum, Minimum and Average VaR Values December 31, 2017 Minimum Average Maximum Period end Interest rate 81,334 104,098 144,232 144,232 Exchange rate 656 2,332 4,041 4,041 Shares 9,691 10,601 11,072 10,800 Mutual funds 116 891 2,669 140 VaR portfolio 95,312 117,460 159,214 159,214
Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Detailed information on Credit Worthiness [Text Block]	December 31, 2018 December 31, 2017 Investment grade Sovereign (*) Ps. 2,270,642 Ps. 1,231,219 Other public entities (**) 128,546 70,064 Corporate 30,207 68,286 Financial entities 1,101,157 1,007,540 Total investment grade Ps. 3,530,552 Ps. 2,377,109 Speculative grade Sovereign (*) Ps. 98,155 Ps. 92,931 Central banks 12,914 34,095 Financial entities 117,594 129,985 Total Speculative grade Ps. 228,663 Ps. 257,011 Without grade or not available Corporate Ps. 3,763 Ps. 16,416 Total without grade or not available Ps. 3,763 Ps. 16,416 Ps. 3,762,978 Ps. 2,650,536 (a) Investments measured at fair value in the Statement of Financial Position, see note 2 (2.8). (*) A sovereign credit rating considers the risk of Treasury issuer or similar agency (government debt portfolio). (**) Derived from operations with government entities; including public administrations in general including regional and local governments.
Disclosure of Detailed Information about Investment in Debt Securities by Sector [Table Text Block]	December 31, December 31, 2018 2017 (1) In Colombian Pesos Securities issued or secured by Colombian Government Ps. 2,210,108 Ps. Securities issued or secured by other Colombian Government entities 108,072 48,355 Securities issued or secured by other financial entities 972,789 833,860 Securities issued or secured by non-financial sector entities 29,122 17,869 Others 1,086 50,417 Ps. 3,321,177 Ps. In foreign currency Securities issued or secured by Colombian Government 60,534 1,613 Securities issued or secured by other Colombian Government entities 20,473 21,709 Securities issued or secured by foreign Governments 98,155 92,931 Securities issued or secured by central banks 12,914 34,095 Securities issued or secured by other financial entities 245,962 303,665 Others 3,763 16,416 Ps. 441,801 Ps. 470,929 Total trading debt securities Ps. 3,762,978 Ps. (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5
Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Detailed information on Credit Worthiness [Text Block]	December 31, 2018 December 31, 2017 (1) Investment grade Corporate 31,256 — Total investment grade Ps. 31,256 Ps. — (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5).
Disclosure of Detailed Information about Investment in Debt Securities by Sector [Table Text Block]	December 31, December 31, 2018 2017 (1) In Colombian Pesos Others 31,256 — Total debt securities mandatorily at FVTPL Ps. 31,256 Ps. — (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5
Financial assets at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Detailed information on Credit Worthiness [Text Block]	December 31, 2018 December 31, Stage 1 Stage 2 Stage 3 Total 2017 (1) Investment grade Sovereign (*) Ps. 11,492,538 Ps. — Ps. — Ps. 11,492,538 Ps. Other public entities (**) 497,634 — — 497,634 662,702 Corporate 135,985 — — 135,985 148,738 Financial entities 2,732,127 — — 2,732,127 2,975,485 Multilaterals 118,657 — — 118,657 104,885 Total investment grade Ps. 14,976,941 Ps. — Ps. — Ps. 14,976,941 Ps. Speculative grade Sovereign (*) Ps. 1,994,205 Ps. 54,587 Ps. — Ps. 2,048,792 Ps. 1,432,083 Central banks 1,066,822 64,918 — 1,131,740 1,356,874 Corporate 61,485 132,817 — 194,302 274,450 Financial entities 375,352 201,002 — 576,354 642,592 Total speculative grade Ps. 3,497,864 Ps. 453,324 Ps. — Ps. 3,951,188 Ps. 3,705,999 Default Corporate Ps. — Ps. — Ps. Ps. 7,628 Ps. 34,516 Total default Ps. — Ps. — Ps. Ps. 7,628 Ps. 34,516 Without grade or not available Corporate Ps. — Ps. — Ps. — Ps. — Ps. 563 Total without grade or not available Ps. — Ps. — Ps. — Ps. — Ps. 563 Ps. 18,474,805 Ps. 453,324 Ps. Ps. 18,935,757 Ps. (*) Sovereign credit rating is considered as the risk of the Treasury issuer or a similar agency (government debt portfolio). (**) Derived from operations with government entities; including public administrations in general (includes regional and local governments). (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5).
Disclosure of Detailed Information about Investment in Debt Securities by Sector [Table Text Block]	December 31, December 31, 2018 2017 (1) In Colombian Pesos Securities issued or secured by Colombian Government Ps. 9,256,358 Ps. 7,892,554 Securities issued or secured by other Colombian Government entities 194,933 92,008 Securities issued or secured by other financial entities 388,019 263,633 Securities issued or secured by non-financial sector entities 27,708 2,326 Others — 7,190 Ps. 9,867,018 Ps. 8,257,711 In foreign currency Securities issued or secured by Colombian Government 1,269,416 1,592,371 Securities issued or secured by other Colombian Government entities 302,701 570,694 Securities issued or secured by foreign Governments 3,015,556 2,104,397 Securities issued or secured by central banks 1,131,740 1,356,874 Securities issued or secured by other financial entities 2,920,462 3,354,444 Securities issued or secured by non-financial sector entities 182,232 322,143 Others 246,632 231,493 Ps. 9,068,739 Ps. 9,532,416 Total debt securities at FVOCI (2017 available-for-sale) Ps. Ps. (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5).
Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Detailed Information about Investment in Debt Securities by Sector [Table Text Block]	December 31, December 31, 2018 2017 (1) In Colombian Pesos Securities issued or secured by Colombian Government Ps. — Ps. 424 Securities issued or secured by other Colombian Government entities 2,931,172 2,839,286 Securities issued or secured by other financial entities 9,123 8,635 Ps. 2,940,295 Ps. 2,848,345 In foreign currency Securities issued or secured by foreign Governments 32,321 26,864 Securities issued or secured by other financial entities — 23,830 Others — — Ps. 32,321 Ps. 50,694 Total investments in debt securities at amortized cost (2017 held-to-maturity) Ps. 2,972,616 Ps. 2,899,039 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5).
Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Detailed information on Credit Worthiness [Text Block]	December 31, 2018 December 31, Stage 1 Stage 2 Stage 3 Total 2017 Investment grade Sovereign (*) Ps. 2,631,235 Ps. — Ps. — Ps. 2,631,235 Ps. 786,018 Financial entities 340,265 — — 340,265 314,848 Total investment grade Ps. 2,971,500 Ps. — Ps. — Ps. 2,971,500 Ps. 1,100,886 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5). (*) Sovereign credit rating is considered as the risk of the Treasury issuer or a similar agency (government debt portfolio).
Hedging Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Detailed information on Credit Worthiness [Text Block]	Credit worthiness December 31, 2018 December 31, 2017 Investment grade Ps. 755,218 Ps. 312,426 Speculative 9,926 503 Without grade or not available 33,680 70,724 Total Ps. 798,824 Ps. 383,653
Loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Reconciliation of Loss Allowance [Table Text Block]	December 31, 2018 Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance balance as of December 31, 2017- IAS 39 Ps. 1,227,363 Ps. 583,584 Ps. 3,807,534 Ps. 5,618,481 IFRS 9 adoption (1) 490,117 596,737 76,155 1,163,009 Loss allowance as of January 1, 2018 – IFRS 9 Ps. 1,717,480 Ps. 1,180,321 Ps. 3,883,689 Ps. 6,781,490 Transfers: Transfer from stage 1 to stage 2 (255,031) 255,031 — — Transfer from stage 1 to stage 3 (214,542) — 214,542 — Transfer from stage 2 to stage 3 — (631,932) 631,932 — Transfer from stage 3 to stage 2 — 107,331 (107,331) — Transfer from stage 2 to stage 1 314,668 (314,668) — — Transfer from stage 3 to stage 1 183,733 — (183,733) — Net remeasurement of loss allowance (3) (90,021) 746,773 3,194,573 3,851,325 New financial assets originated or purchased 1,011,984 156,320 153,761 1,322,065 Financial assets that have been derecognized (568,424) (177,729) (323,552) (1,069,705) Unwind of discount (2) 32,674 (3,809) 353,118 381,983 FX and other movements 4,703 — 71,009 75,712 Entity deconsolidation — — 2,307 2,307 Write-offs (312,350) (120,592) (2,716,048) (3,148,990) Loss allowance as of December 31, 2018 Ps. 1,824,874 Ps. 1,197,046 Ps. 5,174,267 Ps. 8,196,187 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2 (2.5) (B). (2) The unwind of discount on Stage 3 financial assets is reported within "interest income" so that interest income is recognized on the amortized cost (after deducting the ECL allowance) (3) This amount includes impact of the measurement of ECL due to changes made in PDs/LGDs/EADs and changes made to model assumptions and methodologies from the opening to the closing balance, the following table shows impact by stage: December 31, 2018 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (8,520) Ps. 1,997 Ps. 123 Ps. (6,400)
Loan Commercial portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Reconciliation of Loss Allowance [Table Text Block]	December 31, 2018 Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance balance as of December 31, 2017- IAS 39 Ps. 492,561 Ps. 91,930 Ps. 2,074,831 Ps. 2,659,322 IFRS 9 adoption (1) 122,996 100,438 33,639 257,073 Loss allowance as of January 1, 2018 – IFRS 9 Ps. 615,557 Ps. 192,368 Ps. 2,108,470 Ps. 2,916,395 Transfers: Transfer from stage 1 to stage 2 (26,155) 26,155 — — Transfer from stage 1 to stage 3 (57,241) — 57,241 — Transfer from stage 2 to stage 3 — (141,368) 141,368 — Transfer from stage 3 to stage 2 — 17,836 (17,836) — Transfer from stage 2 to stage 1 65,954 (65,954) — — Transfer from stage 3 to stage 1 30,590 — (30,590) — Net remeasurement of loss allowance (3) (150,806) 153,621 1,013,822 1,016,637 New financial assets originated or purchased 419,719 37,317 68,127 525,163 Financial assets that have been derecognized (221,935) (24,707) (123,509) (370,151) Unwind of discount (2) 31,974 (2,615) 239,515 268,874 FX and other movements 4,707 — 13,098 17,805 Write-offs (16,636) (2,020) (418,618) (437,274) Loss allowance as of December 31, 2018 Ps. 695,728 Ps. 190,633 Ps. 3,051,088 Ps. 3,937,449 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2 (2.5) (B). (2) The unwind of discount on Stage 3 financial assets is reported within "interest income" so that interest income is recognized on the amortized cost (after deducting the ECL allowance) (3) This amount includes impact of the measurement of ECL due to changes made in PDs/LGDs/EADs and changes made to model assumptions and methodologies from the opening to the closing balance, the following table shows impact by stage: December 31, 2018 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. 34,411 Ps. (8,050) Ps. 16,362 Ps. 42,723
Loan Consumer portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Reconciliation of Loss Allowance [Table Text Block]	December 31, 2018 Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance balance as of December 31, 2017- IAS 39 Ps. 656,042 Ps. 446,698 Ps. 1,354,051 Ps. 2,456,791 IFRS 9 adoption (1) 336,656 426,136 32,986 795,778 Loss allowance as of January 1, 2018 – IFRS 9 Ps. 992,698 Ps. 872,834 Ps. 1,387,037 Ps. 3,252,569 Transfers: Transfer from stage 1 to stage 2 (209,235) 209,235 — — Transfer from stage 1 to stage 3 (149,571) — 149,571 — Transfer from stage 2 to stage 3 — (432,509) 432,509 — Transfer from stage 3 to stage 2 — 77,046 (77,046) — Transfer from stage 2 to stage 1 209,168 (209,168) — — Transfer from stage 3 to stage 1 137,887 - (137,887) — Net remeasurement of loss allowance (3) 78,253 518,410 1,855,935 2,452,598 New financial assets originated or purchased 543,690 113,235 75,181 732,106 Financial assets that have been derecognized (315,442) (139,703) (145,775) (600,920) Unwind of discount (2) 474 (514) 80,214 80,174 FX and other movements (7) — 52,807 52,800 Write-offs (289,525) (118,310) (2,119,181) (2,527,016) Loss allowance as of December 31, 2018 Ps. 998,390 Ps. 890,556 Ps. 1,553,365 Ps. 3,442,311 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2 (2.5) (B). (2) The unwind of discount on Stage 3 financial assets is reported within "interest income" so that interest income is recognized on the amortized cost (after deducting the ECL allowance) (3) This amount includes impact of the measurement of ECL due to changes made in PDs/LGDs/EADs and changes made to model assumptions and methodologies from the opening to the closing balance, the following table shows impact by stage: December 31, 2018 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (51,642) Ps. 20,671 Ps. (7,473) Ps. (38,444)
Loan Mortgage portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Reconciliation of Loss Allowance [Table Text Block]	December 31, 2018 Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 2-month credit- ECL credit- ECL impaired impaired Total Loss allowance balance as of December 31, 2017- IAS 39 Ps. 14,501 Ps. 20,032 Ps. 96,349 Ps. 130,882 IFRS 9 adoption (1) 6,227 41,690 8,279 56,196 Loss allowance as of January 1, 2018 – IFRS 9 Ps. 20,728 Ps. 61,722 Ps. 104,628 Ps. 187,078 Transfers: Transfer from stage 1 to stage 2 (7,711) 7,711 — — Transfer from stage 1 to stage 3 (1,558) — 1,558 — Transfer from stage 2 to stage 3 — (21,022) 21,022 — Transfer from stage 3 to stage 2 — 6,872 (6,872) — Transfer from stage 2 to stage 1 20,072 (20,072) — — Transfer from stage 3 to stage 1 2,749 — (2,749) — Net remeasurement of loss allowance (3) (3,510) 45,162 73,385 115,037 New financial assets originated or purchased 8,999 2,047 47 11,093 Financial assets that have been derecognized (4,131) (8,742) (6,386) (19,259) Unwind of discount (2) 110 (143) 4,581 4,548 FX and other movements — — 4,946 4,946 Write-offs (561) (74) (45,565) (46,200) Loss allowance as of December 31, 2018 Ps. 35,187 Ps. 73,461 Ps. 148,595 Ps. 257,243 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2 (2.5) (B). (2) The unwind of discount on Stage 3 financial assets is reported within "interest income" so that interest income is recognized on the amortized cost (after deducting the ECL allowance) (3) This amount includes impact of the measurement of ECL due to changes made in PDs/LGDs/EADs and changes made to model assumptions and methodologies from the opening to the closing balance, the following table shows impact by stage: December 31, 2018 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. 2,543 Ps. (4,263) Ps. (8,823) Ps. (10,543)
Loan Microcredit portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Reconciliation of Loss Allowance [Table Text Block]	December 31, 2018 Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance balance as of December 31, 2017- IAS 39 Ps. 21,421 Ps. 7,477 Ps. 45,269 Ps. 74,167 IFRS 9 adoption (1) 525 10,591 2 11,118 Loss allowance as of January 1, 2018 – IFRS 9 Ps. 21,946 Ps. 18,068 Ps. 45,271 Ps. 85,285 Transfers: Transfer from stage 1 to stage 2 (8,298) 8,298 — — Transfer from stage 1 to stage 3 (2,599) — 2,599 — Transfer from stage 2 to stage 3 — (30,052) 30,052 — Transfer from stage 3 to stage 2 — 1,961 (1,961) — Transfer from stage 2 to stage 1 6,305 (6,305) — — Transfer from stage 3 to stage 1 6,062 — (6,062) — Net remeasurement of loss allowance (3) (8,285) 20,392 9,625 21,732 New financial assets originated or purchased 16,095 626 — 16,721 Financial assets that have been derecognized (2,397) (600) (861) (3,858) Unwind of discount (2) 103 (381) 8,266 7,988 Write-offs (5,584) (45) (34,062) (39,691) Loss allowance as of December 31, 2018 Ps. 23,348 Ps. 11,962 Ps. 52,867 Ps. 88,177 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2 (2.5) (B). (2) The unwind of discount on Stage 3 financial assets is reported within "interest income" so that interest income is recognized on the amortized cost (after deducting the ECL allowance) (3) This amount includes impact of the measurement of ECL due to changes made in PDs/LGDs/EADs and changes made to model assumptions and methodologies from the opening to the closing balance, the following tables show impact by stage: December 31, 2018 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. 541 Ps. (5,338) Ps. 47 Ps. (4,750)
Loan Financial Leasing portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Reconciliation of Loss Allowance [Table Text Block]	December 31, 2018 Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance balance as of December 31, 2017 - IAS 39 Ps. 42,838 Ps. 17,447 Ps. 237,034 Ps. 297,319 IFRS 9 adoption (1) 23,713 17,882 1,249 42,844 Loss allowance as of January 1, 2018 – IFRS 9 Ps. 66,551 Ps. 35,329 Ps. 238,283 Ps. 340,163 Transfers: Transfer from stage 1 to stage 2 (3,632) 3,632 — — Transfer from stage 1 to stage 3 (3,573) — 3,573 — Transfer from stage 2 to stage 3 — (6,981) 6,981 — Transfer from stage 3 to stage 2 — 3,616 (3,616) — Transfer from stage 2 to stage 1 13,169 (13,169) — — Transfer from stage 3 to stage 1 6,445 — (6,445) — Net remeasurement of loss allowance (3) (5,673) 9,188 241,806 245,321 New financial assets originated or purchased 23,481 3,095 10,406 36,982 Financial assets that have been derecognized (24,519) (3,977) (47,021) (75,517) Unwind of discount (2) 13 (156) 20,542 20,399 FX and other movements 3 — 158 161 Entity deconsolidation — — 2,307 2,307 Write-offs (44) (143) (98,622) (98,809) Loss allowance as of December 31, 2018 Ps. 72,221 Ps. 30,434 Ps. 368,352 Ps. 471,007 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2 (2.5) (B). (2) The unwind of discount on Stage 3 financial assets is reported within "interest income" so that interest income is recognized on the amortized cost (after deducting the ECL allowance) (3) This amount includes impact of the measurement of ECL due to changes made in PDs/LGDs/EADs and changes made to model assumptions and methodologies from the opening to the closing balance, the following table shows impact by stage: December 31, 2018 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. 5,627 Ps. (1,023) Ps. 10 Ps. 4,614
Financial assets at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Reconciliation of Loss Allowance [Table Text Block]	December 31, 2018 Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance balance as of December 31, 2017- IAS 39 Ps. — Ps. — Ps. 71,708 Ps. 71,708 IFRS 9 adoption (1) 18,665 31,714 5,819 56,198 Loss allowance as of January 1, 2018 – IFRS 9 Ps. 18,665 Ps. 31,714 Ps. 77,527 Ps. 127,906 Transfers: Transfer from stage 1 to stage 2 (272) 272 — — Net remeasurement of loss allowance (3) (2,361) (28) 18,158 15,769 New financial assets originated or purchased 12,018 450 — 12,468 Financial assets that have been derecognized (7,937) (2,688) (49,421) (60,046) Unwind of discount (2) — — — — FX and other movements 644 2,260 16 2,920 Write-offs — — — — Loss allowance as of December 31, 2018 Ps. 20,757 Ps. 31,980 Ps. 46,280 Ps. 99,017 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2 (2.5) (B). (2) The unwind of discount on Stage 3 financial assets is reported within "interest income" so that interest income is recognized on the amortized cost (after deducting the ECL allowance) (3) This amount includes impact of the measurement of ECL due to changes made in PDs/LGDs/EADs and changes made to model assumptions and methodologies from the opening to the closing balance, the following table shows impact by stage: December 31, 2018 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. 198 Ps. — Ps. — Ps. 198
Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Detailed information on Credit Worthiness [Text Block]	December 31, 2018 December 31, Stage 1 Stage 2 Stage 3 Total 2017 (1) Investment grade Sovereign (*) Ps. 32,321 Ps. — Ps. — Ps. 32,321 Ps. 27,288 Other public entities (**) 2,931,172 — — 2,931,172 2,839,286 Financial entities 9,123 — — 9,123 8,635 Total investment grade Ps. 2,972,616 Ps. — Ps. — Ps. 2,972,616 Ps. 2,875,209 Without grade or not available Financial entities — — — — 23,830 Total without grade or not available Ps. — Ps. — Ps. — Ps. — Ps. 23,830 Ps. 2,972,616 Ps. — Ps. — Ps. 2,972,616 Ps. 2,899,039 (*) Sovereign credit rating is considered as the risk of the Treasury issuer or a similar agency (government debt portfolio). (**) Derived from operations with government entities; including public administrations in general (includes regional and local governments). (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5).
Disclosure of Reconciliation of Loss Allowance [Table Text Block]	December 31, 2018 Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance balance as of December 31, 2017 - IAS 39 Ps. — Ps. — Ps. — Ps. — IFRS 9 adoption (1) 672 — — 672 Loss allowance as of January 1, 2018 – IFRS 9 Ps. 672 Ps. — Ps. — Ps. 672 Net remeasurement of loss allowance (3) (90) — — (90) New financial assets originated or purchased 59 — — 59 Financial assets that have been derecognized (667) — — (667) Unwind of discount (2) — — — — FX and other movements 97 — — 97 Write-offs — — — — Loss allowance as of December 31, 2018 Ps. 71 Ps. — Ps. — Ps. 71 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2 (2.5) (B). (2) The unwind of discount on Stage 3 financial assets is reported within "interest income" so that interest income is recognized on the amortized cost (after deducting the ECL allowance) (3) This amount includes impact of the measurement of ECL due to changes made in PDs/LGDs/EADs and changes made to model assumptions and methodologies from the opening to the closing balance, the following table shows impact by stage: December 31, 2018 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. 3 Ps. — Ps. — Ps. 3
Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Reconciliation of Loss Allowance [Table Text Block]	General approach December 31, 2018 Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance balance as of December 31, 2017 - IAS 39 Ps. 12,911 Ps. 5,909 Ps. 70,611 Ps. 89,431 IFRS 9 adoption (1) 4,021 3,751 1,797 9,569 Loss allowance as of January 1, 2018 – IFRS 9 Ps. 16,932 Ps. 9,660 Ps. 72,408 Ps. 99,000 Transfers stages — — — — Net remeasurement of loss allowance 19,439 1,901 (6,081) 15,259 New financial assets originated or purchased — — — — Financial assets that have been derecognized — — — — Unwind of discount (2) — — — — FX and other movements (2) — — (2) Write-offs (16,669) — — (16,669) Loss allowance as of December 31, 2018 Ps. 19,700 Ps. 11,561 Ps. 66,327 Ps. 97,588 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2 (2.5) (B). (2) The unwind of discount on Stage 3 financial assets is reported within "interest income" so that interest income is recognized on the amortized cost (after deducting the ECL allowance) Simplified approach December 31, 2018 Balance as of December 31, 2017- IAS 39 Ps. 137,431 IFRS 9 adoption (1) 9,338 Loss allowance as of January 1, 2018 – IFRS 9 Ps. 146,769 Entity deconsolidation 6,731 Provision charged to profit or loss 65,230 Recovery for partial payments from the clients (12,373) Write-offs (47,309) Exchange gains (losses) in foreign currency 255 Loss allowance as of December 31, 2018 Ps. 159,303 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2 (2.5) (B)
Other Accounts Receivable | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Detailed information on Credit Worthiness [Text Block]	e) December 31, 2018 December 31, 2017 Investment grade Sovereign (*) Ps. 2,488,414 Ps. 2,282,611 Total investment grade Ps. 2,488,414 Ps. 2,282,611 (*) Sovereign credit rating is considered as the risk of the Treasury issuer or a similar agency (government debt portfolio).
Loan Commitments and Financial Guarantee Contracts
Disclosure Of Financial Risk Management Explanatory [Line Items]
Disclosure of Reconciliation of Loss Allowance [Table Text Block]	December 31, 2018 Stage 2 Stage 3 Lifetime Lifetime Stage 1 ECL not ECL 12-month credit- credit- ECL impaired impaired Total Loss allowance balance as of December 31, 2017- IAS 39 Ps. 23,922 Ps. 1,719 Ps. 4,034 Ps. 29,675 IFRS 9 adoption (1) 13,381 3,085 (249) 16,217 Loss allowance as of January 1, 2018 – IFRS 9 Ps. 37,303 Ps. 4,804 Ps. 3,785 Ps. 45,892 Transfers: Transfer from stage 1 to stage 2 (2,350) 2,350 — — Transfer from stage 1 to stage 3 (2,167) — 2,167 — Transfer from stage 2 to stage 3 — (156) 156 — Transfer from stage 3 to stage 2 — 13 (13) — Transfer from stage 2 to stage 1 1,816 (1,816) — — Transfer from stage 3 to stage 1 26 — (26) — Net remeasurement of loss allowance 2,732 11,071 (5,009) 8,794 New loan commitments and financial guarantees issued 3,186 (1,909) 3,295 4,572 FX and other movements 169 1 — 170 Loss allowance as of December 31, 2018 Ps. 40,715 Ps. 14,358 Ps. 4,355 Ps. 59,428 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2 (2.5) (B).

ESTIMATION OF FAIR VALUE (Table

ESTIMATION OF FAIR VALUE (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure Of Estimations of Fair Value [Line Items]
Disclosure of detailed information about the sensitivity analysis of fair value of mortgage-backed securities under three different scenarios [Text Block]	December 2018 Baseline scenario (i) Increase - Favorable scenario (ii) Decrease - Unfavorable scenario (iii) Ps. Ps. Ps. December 2017 Baseline scenario (i) Increase - Favorable scenario (ii) Decrease - Unfavorable scenario (iii) Ps. Ps. Ps. (i) Fair value calculated based on valuation scenario, considers 12‑month Moving Average Prepayment between 9.25% and 10.90% as of December 31, 2018 and 12.4% and 15.8% as of December 31, 2017, and 1 Time Delinquency Curve. (ii) Pre-payment of 10% and 1 time delinquency curve (iii) Pre-payment of 20% and 1 time delinquency curve
Disclosure of Detailed Information About Sensitivity Analysis of Changes on Assumptions Related to Investments Classified as Equity Instruments at FVOCI [Text Block]	Favorable Unfavorable Methods and Variables Variation impact impact Comparable multiples / Recent transaction price EBITDA Number of times +/-1 x Ps. 1,819 Ps. (1,823) Adjusted net Asset Value Most relevant variable in assets +/-10% 221 (177) Adjusted discounted cash flow Growth in residual values +/-1% of the gradient 204 (134) Growth in residual values after 5 years +/-1% 60 (147) +/- 30 bp 135 (101) +/-1% 743 (741) Income +/-1% 710 (674) +/- 1% anual 352 (529) Discount interest rates +/- 50 pb 597 (572) Ps. 4,841 Ps. (4,898)
Disclosure of detailed information about sensitivity analysis of the assumptions used by Promigas and its subsidiaries in the calculation of fair value of unconditional transfer rights of gas pipelines to Government entities [Text Block]	December 31, 2018 December 31, 2017 Variable +100 bps -100 bps +100 bps -100 bps WACC Ps. Ps. Ps. Ps. Growth rate
Disclosure of detailed information about Yield per hectare Based on the crop composition and the planting year of the different clones [Text Block]	Tons of rubber per Year hectare per year Year 7 0.60 Year 8 0.90 Year 9 1.40 Year 10 and other 1.80
Disclosure of detailed information about Yield per hectare Based on the crop composition and the planting year of the crops [Text Block]	Tons of fresh fruit Year per hectare 0 to 3 — 4 4 5 10 6 12 7 22 7 to 18 22 More than 18 36 Weighted average 18
Disclosure of detailed information about the oil extraction rate that defines the amount of crude palm oil that is produced [Text Block]	Year Extraction Rate (%) 0 to 3 19 4 23 5 23 6 23 7 23 7 to 18 23 More than 18 21 Weighted average 22
Disclosure of detailed information about transfer of fair value between level 1 and 2 [Text Block]	December 31, 2018 Investments in debt Investments in debt securities at FVTPL securities at FVOCI Transfers between: Transfers between: Level 2 to 1 Level 1 to 2 Level 2 to 1 Level 1 to 2 Securities issued or secured by Colombian Government Ps. — Ps. — Ps. 17,668 Ps. 14,081 Securities issued or secured by other Colombian Government entities — — 229,202 — Securities issued or secured by other financial entities — — — 189,013 Ps. — Ps. — Ps. 246,870 Ps. 203,094 December 31, 2017 Trade Debt securities debt securities available-for-sale Transfers between: Transfers between: Level 2 to 1 Level 1 to 2 Level 2 to 1 Level 1 to 2 Securities issued or secured by Colombian Government Ps. — Ps. 49 Ps. — Ps. 28,104 Securities issued or secured by other Colombian Government entities — 313 — 9,908 Securities issued or secured by other financial entities — — — 65,209 Securities issued or secured by entities of the non-financial sector — — — 85,552 Ps. — Ps. 362 Ps. — Ps. 188,773
Disclosure of detailed information about Changes in Level 3 Fair-Value Category [Text Block]	Financial assets Financial assets in in debt Equity concession Biological Investment securities instruments arrangements assets properties December 31, 2015 Ps. 36,077 Ps. — Ps. 1,891,692 Ps. 240,212 Ps. 538,246 Valuation adjustment with an effect on income 750 — 180,982 14,644 53,680 Valuation adjustments with an effect on OCI (9,450) — — — — Reclassification of bearer plants balance — — — (188,177) — Effects of amendments in accounting policies of bearer plants. — — — (18,108) — Transfers to non-current assets held for sale — — — — 11,319 Reclassification — — — (1,331) (2,539) Additions — — — 21,432 71,268 Sales / redemptions — — — (20,670) (61,786) December 31, 2016 Ps. 27,377 Ps. — Ps. 2,072,674 Ps. 48,002 Ps. 610,188 Valuation adjustment with an effect on income 765 — 209,937 13,503 46,675 Valuation adjustments with an effect on OCI (8,540) — — — — Transfers from non-current assets held for sale — — — — 101,469 Reclassification — 25,341 — — (30,143) Additions — — — 24,409 84,036 Sales / redemptions — — — (19,775) (28,431) December 31, 2017 Ps. 19,602 Ps. 25,341 Ps. 2,282,611 Ps. 66,139 Ps. 783,794 Adoption IFRS 9 (See note 2) — 102,214 — — — Valuation adjustment with an effect on income (5,119) 9,207 205,803 20,606 39,415 Valuation adjustments with an effect on OCI — 1,426 — — — Transfers from non-current assets held for sale — — — — 19,719 Reclassification — 25,989 — (96) 10,780 Additions — (*) 396,136 — 20,900 61,300 Sales / redemptions (750) — — (23,343) (78,684) December 31, 2018 Ps. 13,733 Ps. 560,313 Ps. 2,488,414 Ps. 84,206 Ps. 836,324 (*) Includes investment in NEXUS Real Estate Capital Funds by Banco de Bogota of Ps.330,350, Banco Popular of Ps.24,222, Alpopular of Ps.41,070 and Fiduciaria Popular of Ps.494
Disclosure of detailed information about financial assets and liabilities accounted at amortized cost and valued at fair value only for purposes of this disclosure [Text Block]	December 31, 2018 December 31, 2017 Carrying Fair Value Carrying Fair Value Amount Estimate Amount Estimate Assets Investments in debt securities at amortized cost (2017 - held-to-maturity) (1) Ps. 2,972,616 Ps. 2,984,973 Ps. 2,899,039 Ps. 2,928,929 Credit portfolio at amortized cost (2) 168,685,654 176,228,181 160,754,295 166,303,676 Total financial assets Ps. 171,658,270 Ps. 179,213,154 Ps. 163,653,334 Ps. 169,232,605 Liabilities Customer deposits (3) Ps. 164,359,451 Ps. 164,682,493 Ps. 154,885,224 Ps. 154,805,726 Financial obligations (4) 51,211,990 51,811,778 45,276,036 45,413,210 Total financial liabilities Ps. 215,571,441 Ps. 216,494,271 Ps. 200,161,260 Ps. 200,218,936 (1) Fair value of fixed income investments at amortized cost was determined using the dirty price given by the price supplier, securities in an active market and with a market price for the day of the valuation are classified as level 1; securities with no active market and/or with an estimated price (present value of the flows of a security, discounted with the reference rate and the corresponding margin) given by the supplier are classified as level 2. (2) For credit portfolio at amortized cost, the fair value was determined using discounted cash flows models at the interest rates offered by banks for granting new loans, taking into account the credit risk and its maturity; the process of valuation is deemed as level 3. Accounts receivable and payable are classified as short-term assets and liabilities; in consequence, their fair value is similar to their book value. (3) The fair value of demand deposits is equal to their carrying value. For fixed-term deposits with maturities of less than 180 days, their fair value is deemed equal to their carrying value. For fixed-term deposits with maturities of more than 180 days, their fair value was estimated using the carrying discounted cash flow models and the interest rates offered by banks in accordance with their maturity. This is considered as a level 2 valuation. (4) For financial liabilities and other short-term liabilities, the carrying value was considered to be similar to its fair value. The fair value of long-term financial liabilities was determined using the discounted cash flow model at interest rates free of risk adjusted by risk premiums of each entity. The fair value of outstanding bonds is determined according to quoted prices or estimated prices supplied by the price vendor. It is considered that this is a level 2 valuation.
Rubber Plantations
Disclosure Of Estimations of Fair Value [Line Items]
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [text block]	TSR20 reference price Change in fiscal year- Value of the biological Profits USD/ton end price asset before taxes 1,597 5 % 44,615 20,457 Dec-18 1,521 Baseline scenario 41,533 17,375 1,445 (5) % 38,451 14,293 1,620 5 % 25,366 10,762 Dec-17 1,543 Baseline scenario 24,158 9,554 1,466 (5) % 22,950 8,346
African Palm Plantations
Disclosure Of Estimations of Fair Value [Line Items]
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [text block]	CPO reference price Change in fiscal year- Value of the biological Profits USD/ton end price asset before taxes 705 5 % 32,786 6,231 Dec-18 671 Baseline scenario 29,783 3,228 638 (5) % 26,779 224 683 5 % 27,883 5,068 Dec-17 651 Baseline scenario 26,555 3,740 618 (5) % 25,228 2,412
Recurring fair value measurement
Disclosure Of Estimations of Fair Value [Line Items]
Disclosure Of Fair Value Measurement Of Assets and liabilities [Text Block]	December 31, 2018 Level 1 Level 2 Level 3 Total Assets Trading investments Securities issued or secured by Colombian Government Ps. 2,109,574 Ps. 161,068 Ps. — Ps. 2,270,642 Securities issued or secured by other Colombian Government entities 19,606 108,940 — 128,546 Securities issued or secured by foreign Governments — 98,155 — 98,155 Securities issued or secured by central banks — 12,914 — 12,914 Securities issued or secured by other financial entities — 1,218,751 — 1,218,751 Securities issued or secured by non-financial sector entities — 29,122 — 29,122 Others — 4,848 — 4,848 Total trading investments Ps. 2,129,180 Ps. 1,633,798 Ps. — Ps. 3,762,978 Investments in debt securities at fair value through profit or loss Others — 17,523 13,733 31,256 Total investments in debt securities at fair value through profit or loss Ps. 2,129,180 Ps. 1,651,321 Ps. 13,733 Ps. 3,794,234 Investments in debt securities at fair value through OCI Securities issued or secured by Colombian Government 8,208,778 2,316,996 — 10,525,774 Securities issued or secured by other Colombian Government entities 232,312 265,323 — 497,635 Securities issued or secured by foreign Governments 91,315 2,924,241 — 3,015,556 Securities issued or secured by central banks — 1,131,740 — 1,131,740 Securities issued or secured by other financial entities 279,653 3,028,827 — 3,308,480 Securities issued or secured by non-financial sector entities — 209,940 — 209,940 Others — 246,632 — 246,632 Total investments in debt securities at fair value through OCI Ps. 8,812,058 Ps. 10,123,699 Ps. — Ps. 18,935,757 Total investments in debt securities Ps. 10,941,238 Ps. 11,775,020 Ps. 13,733 Ps. 22,729,991 Equity securities Trading equity securities 3,060 2,212,915 456,673 2,672,648 Investments in equity through OCI 935,737 51,224 103,640 1,090,601 Total equity securities Ps. 938,797 Ps. 2,264,139 Ps. 560,313 Ps. 3,763,249 Held for trading derivatives Currency forward — 616,116 1,683 617,799 Bond forward — 71 — 71 Interest rate swap — 43,181 — 43,181 Currency swap — 48,546 — 48,546 Currency options — 59,089 — 59,089 Total held for trading derivatives Ps. — Ps. 767,003 Ps. 1,683 Ps. 768,686 Hedging derivatives Currency forward — 30,138 — 30,138 Total hedging derivatives Ps. — Ps. 30,138 Ps. — Ps. 30,138 Other account receivables Financial assets in concession contracts — — 2,488,414 2,488,414 Total other account receivables designated at fair value Ps. — Ps. — Ps. 2,488,414 Ps. 2,488,414 Non- financial assets Biological assets — — 84,206 84,206 Investment properties — — 836,324 836,324 Total non- financial assets Ps. — Ps. — Ps. 920,530 Ps. 920,530 Total assets at fair value on recurring basis Ps. 11,880,035 Ps. 14,836,300 Ps. 3,984,673 Ps. 30,701,008 Liabilities Trading derivatives Currency forward — 583,242 5,779 589,021 Bond forward — 2,730 — 2,730 Bond futures 32 — — 32 Interest rate swap — 32,380 — 32,380 Currency swap — 148,378 — 148,378 Currency options — 38,764 — 38,764 Total trading derivatives Ps. 32 Ps. 805,494 Ps. 5,779 Ps. 811,305 Hedging derivatives Currency forward — 195,539 — 195,539 Total hedging derivatives Ps. — Ps. 195,539 Ps. — Ps. 195,539 Total liabilities at fair value on recurring basis Ps. 32 Ps. 1,001,033 Ps. 5,779 Ps. 1,006,844 December 31, 2017 (1) Level 1 Level 2 Level 3 Total Assets Held for trading debt securities Securities issued or secured by Colombian Government Ps. 1,104,829 Ps. 126,390 Ps. — Ps. 1,231,219 Securities issued or secured by other Colombian Government entities — 70,064 — 70,064 Securities issued or secured by foreign Governments — 92,931 — 92,931 Securities issued or secured by central banks — 34,095 — 34,095 Securities issued or secured by other financial entities — 1,137,525 — 1,137,525 Securities issued or secured by non-financial sector entities — 17,869 — 17,869 Others — 53,858 12,975 66,833 Total held for trading debt securities Ps. 1,104,829 Ps. 1,532,732 Ps. 12,975 Ps. 2,650,536 Investments in debt securities available-for-sale Securities issued or secured by Colombian Government 7,668,545 1,816,380 — 9,484,925 Securities issued or secured by other Colombian Government entities — 662,702 — 662,702 Securities issued or secured by foreign Governments 29,604 2,074,793 — 2,104,397 Securities issued or secured by central banks — 1,356,874 — 1,356,874 Securities issued or secured by other financial entities 456,354 3,161,723 — 3,618,077 Securities issued or secured by non-financial sector entities — 324,469 — 324,469 Others — 232,056 6,627 238,683 Total investments in debt securities available-for sale Ps. 8,154,503 Ps. 9,628,997 Ps. 6,627 Ps. 17,790,127 Total investments in debt securities Ps. 9,259,332 Ps. 11,161,729 Ps. 19,602 Ps. 20,440,663 Equity securities Trading equity securities 28,659 2,095,160 25,341 2,149,160 Investments in equity securities available-for-sale 768,336 55,697 — 824,033 Total equity securities Ps. 796,995 Ps. 2,150,857 Ps. 25,341 Ps. 2,973,193 Held for trading derivatives Currency forward — 222,377 1,578 223,955 Bond forward — 731 — 731 Interest rate swap — 52,970 — 52,970 Currency swap — 33,104 — 33,104 Currency options — 17,632 — 17,632 Total held for trading derivatives Ps. — Ps. 326,814 Ps. 1,578 Ps. 328,392 Hedging derivatives Currency forward — 55,261 — 55,261 Total hedging derivatives Ps. — Ps. 55,261 Ps. — Ps. 55,261 Other financial assets at fair value through profit or loss Financial assets in concession contracts — — 2,282,611 2,282,611 Total financial assets designated at fair value Ps. 10,056,327 Ps. 13,694,661 Ps. 2,329,132 Ps. 26,080,120 Non- financial assets Biological assets — — 66,139 66,139 Investment properties — — 783,794 783,794 Total non- financial assets Ps. — Ps. — Ps. 849,933 Ps. 849,933 Total assets at fair value on recurring basis Ps. 10,056,327 Ps. 13,694,661 Ps. 3,179,065 Ps. 26,930,053 Liabilities Trading derivatives Currency forward — 142,760 1,812 144,572 Bond forward — 1,107 — 1,107 Interest rate swap — 40,693 — 40,693 Currency swap — 79,263 — 79,263 Currency options — 33,030 — 33,030 Total trading derivatives Ps. — Ps. 296,853 Ps. 1,812 Ps. 298,665 Hedging derivatives Currency forward — 13,464 — 13,464 Total hedging derivatives Ps. — Ps. 13,464 Ps. — Ps. 13,464 Total liabilities at fair value on recurring basis Ps. — Ps. 310,317 Ps. 1,812 Ps. 312,129 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (B)
Non-recurring fair value measurement
Disclosure Of Estimations of Fair Value [Line Items]
Disclosure Of Fair Value Measurement Of Assets and liabilities [Text Block]	Level 1 Level 2 Level 3 Total December 31, 2018 Impaired collateralized loans Ps. — Ps. — Ps. 896,257 Ps. 896,257 Non- current assets held for sale — — 186,714 186,714 Ps. — Ps. — Ps. 1,082,971 Ps. 1,082,971 Level 1 Level 2 Level 3 Total December 31, 2017 Impaired collateralized loans Ps. — Ps. — Ps. 701,948 Ps. 701,948 Non- current assets held for sale — — 101,382 101,382 Ps. — Ps. — Ps. 803,330 Ps. 803,330

CLASSIFICATION OF FINANCIAL A_2

CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2018
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Schedule of reconciliation of gross between line items in the statement of financial position and categories of financial instruments	The following table provides a reconciliation of gross amount between line items in the statement of financial position and categories of financial instruments. Mandatorily FVOCI – FVOCI – Total at debt equity Amortized carrying December 31, 2018 Note FVTPL instruments instruments Cost amount Cash and cash equivalents 7 Ps. — Ps. — Ps. — Ps. 28,401,283 Ps. 28,401,283 Trading assets 8 7,204,312 — — — 7,204,312 Debt securities 3,762,978 — — — 3,762,978 Equity securities 2,672,648 — — — 2,672,648 Derivative assets 768,686 — — — 768,686 Investment securities 9 31,256 18,935,757 1,090,601 2,972,616 23,030,230 Measured at fair value 31,256 18,935,757 1,090,601 — 20,057,614 Measured at amortized cost — — — 2,972,616 2,972,616 Loans 11 — — — 176,881,841 176,881,841 Other accounts receivable 12 2,488,414 — — 7,069,120 9,557,534 Measured at fair value 2,488,414 — — — 2,488,414 Measured at amortized cost — — — 7,069,120 7,069,120 Hedging derivative assets 10 30,138 — — — 30,138 Total financial assets Ps. 9,754,120 Ps. 18,935,757 Ps. 1,090,601 Ps. 215,324,860 Ps. 245,105,338 Mandatorily FVOCI – FVOCI – Total at debt equity Amortized carrying December 31, 2018 Note FVTPL instruments instruments Cost amount Trading liabilities Derivative liabilities 8 Ps. 811,305 Ps. — Ps. — Ps. — Ps. 811,305 Hedging derivative liabilities 10 195,539 — — — 195,539 Customer deposits 20 — — — 164,359,451 164,359,451 Financial obligations 21 — — — 51,211,990 51,211,990 Total financial liabilities Ps. 1,006,844 Ps. — Ps. — Ps. 215,571,441 Ps. 216,578,285 Designated Other Total at Held-to- Loans and Available- amortized carrying December 31, 2017 (1) Trading FVTPL maturity receivables for-sale cost amount Cash and cash equivalents Ps. — Ps. — Ps. — Ps. — Ps. — Ps. 22,336,838 Ps. 22,336,838 Trading assets 5,128,088 — — — — — 5,128,088 Debt securities 2,650,536 — — — — — 2,650,536 Equity securities 2,149,160 — — — — — 2,149,160 Derivative assets 328,392 — — — — — 328,392 Investment securities — — 2,899,039 — 18,614,160 — 21,513,199 Debt securities — — 2,899,039 — 17,790,127 — 20,689,166 Investment equity securities — — — — 824,033 — 824,033 Loans and receivables — — — 166,372,776 — — 166,372,776 Other accounts receivable — 2,282,611 — — — 4,466,134 6,748,745 Hedging derivative assets — 55,261 — — — 55,261 Total financial assets Ps. 5,128,088 Ps. 2,337,872 Ps. 2,899,039 Ps. 166,372,776 Ps. 18,614,160 Ps. 26,802,972 Ps. 222,154,907 Designated Other Total at Held-to- Loans and Available- amortized carrying December 31, 2017 (1) Trading FVTPL maturity receivables for-sale cost amount Derivative liabilities held for trading Ps. 298,665 Ps. — Ps. — Ps. — Ps. — Ps. — Ps. 298,665 Hedging derivative liabilities — 13,464 — — — — 13,464 Customer deposits — — — — — 154,885,224 154,885,224 Financial obligations — — — — — 45,276,036 45,276,036 Total financial liabilities Ps. 298,665 Ps. 13,464 Ps. — Ps. — Ps. — Ps. 200,161,260 Ps. 200,473,389 Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2 (2.5) (B).

CASH AND CASH EQUIVALENTS (Tabl

CASH AND CASH EQUIVALENTS (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of cash and cash equivalents [Abstract]
Disclosure of detailed information about cash and cash equivalents [Text Block]	December 31, 2018 December 31, 2017 In Colombian Pesos Cash Ps. 4,489,637 Ps. 4,100,166 Deposits in the Colombian central bank 3,794,412 3,820,539 Demand deposits in banks and other financial entities 559,181 312,661 Clearing houses 3,428 1,733 Investments in debt securities maturing in under three months 2,449 28,603 Restricted cash (1) 254,280 366,584 Ps. 9,103,387 Ps. 8,630,286 In foreign currency Cash 1,955,745 1,704,861 Demand deposits in banks and other financial entities 17,342,151 11,999,859 Restricted cash (2) — 1,832 Ps. 19,297,896 Ps. 13,706,552 Total cash and cash equivalents Ps. 28,401,283 Ps. 22,336,838 (1) Grupo Aval has restricted cash related to the collection of tolls in concessions and in banking reserves. (2) Grupo Aval has restricted cash related to deposits in guarantee for Banco Corficolombiana Panamá S.A and Gas Comprimido del Perú S.A.

TRADING ASSETS AND LIABILITIES

TRADING ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2018
TRADING ASSETS AND LIABILITIES
Balances of trading asset and liabilities	Balances of trading asset and liabilities comprise the following as of December 31, 2018 and 2017: Note December 31, 2018 December 31, 2017 (1) Trading assets Debt securities 8.1 Ps. 3,762,978 Ps. 2,650,536 Equity securities 8.2 2,672,648 2,149,160 Derivative assets 8.3 768,686 328,392 Ps. 7,204,312 Ps. 5,128,088 Trading liabilities Derivative liabilities 8.3 811,305 298,665 Ps. 811,305 Ps. 298,665 Total trading assets and liabilities net Ps. 6,393,007 Ps. 4,829,423 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5(B)
Investments in debt securities at fair value through profit or loss held for trading	The following is the balance at December 31, 2018 and 2017 (1) . December 31, December 31, 2018 2017 Securities issued or secured by Colombian Government Ps. 2,270,642 Ps. 1,231,219 Securities issued or secured by other Colombian Government entities 128,546 70,064 Securities issued or secured by foreign Governments 98,155 92,931 Securities issued or secured by central banks 12,914 34,095 Securities issued or secured by other financial entities 1,218,751 1,137,525 Securities issued or secured by non-financial sector entities 29,122 17,869 Other 4,848 66,833 Total trading debt securities Ps. 3,762,978 Ps. 2,650,536 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (B)
Investments in equity securities at fair value through profit or loss held for trading	The following is the balance at December 31, 2018 and 2017 (1) . December 31, December 31, 2018 2017 In Colombian Pesos Corporate stock Ps. 3,060 Ps. 4,188 Investment funds (2) 1,162,260 802,941 Pension and severance funds (3) 1,451,692 1,279,009 Ps. 2,617,012 Ps. 2,086,138 In foreign currency Corporate stock 32,733 49,812 Investment funds 22,903 13,210 Ps. 55,636 Ps. 63,022 Total equity securities Ps. 2,672,648 Ps. 2,149,160 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5) (B). (2) Grupo Aval has restricted Investment Funds related to Concesionaria Nueva Vía al Mar Ps. 46,276 y Concesionaria Vial del Pacífico Ps. 18,218 (3) Pursuant to Colombian rules the subsidiary Porvenir S. A. is required to directly invest 1% of the total assets of these funds in mandatory severance and pension funds managed by Porvenir.
Schedule of held-for-trading derivative assets and liabilities	December 31, 2018 December 31, 2017 Item Assets Liabilities Assets Liabilities Forward contracts Foreign currency to buy Ps. 599,987 Ps. 22,175 Ps. 60,799 Ps. 120,083 Foreign currency to sell 17,811 566,846 163,156 24,489 Debt securities to buy 50 — 357 171 Debt securities to sell 22 2,730 374 936 Subtotal Ps. 617,870 Ps. 591,751 Ps. 224,686 Ps. Swap Cross currency 48,546 148,378 33,104 79,263 Interest rate 43,181 32,380 52,970 40,693 Subtotal Ps. 91,727 Ps. 180,758 Ps. 86,074 Ps. Futures contracts Debt securities to buy — 32 — — Subtotal Ps. — Ps. 32 Ps. — Ps. — Options contracts Foreign currency to buy 59,089 — — 33,030 Foreign currency to sell — 38,764 — — Debt securities to buy — — 17,632 — Subtotal 59,089 38,764 17,632 33,030 Total derivative assets and liabilities Ps. 768,686 Ps. 811,305 Ps. 328,392 Ps. Net derivatives trading (42,619) 29,727
Trading assets in debt securities pledged as collateral	The following is a list of held-for-trading financial assets that are being used as collateral in repo operations, pledged as collateral for transactions with financial instruments, or pledged to third parties as collateral to secure financial obligations with other banks (See note 21). December 31, December 31, 2018 2017 Pledged as collateral in money market operations Securities issued or secured by central banks Ps. 11,533 Ps. 5,217 Securities issued or secured by foreign Governments 51,055 54,644 Securities issued or secured by Colombian Government 1,027,436 744,332 Securities issued or secured by other financial entities 15,567 9,590 Ps. 1,105,591 Ps. 813,783 Pledged as collateral to special entities such as CRCC, BR and BVC (*) Securities issued or secured by Colombian Government Ps. 34,191 Ps. 29,292 34,191 29,292 Ps. 1,139,782 Ps. 843,075 (*) Cámara de Riesgo Central de Contraparte (“CRCC”), Banco de la República (“BR”) and Bolsa de Valores de Colombia (“BVC”)

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2018
INVESTMENT SECURITIES
Balances of investment securities	Note December 31, 2018 Investments in debt securities mandatorily at FVTPL 9.1 Ps. 31,256 Investments in debt securities at FVOCI 9.2 18,935,757 Investments in debt securities at amortized cost 9.3 2,972,616 Investments in equity securities at FVOCI 9.4 1,090,601 Ps. 23,030,230 Loss impairment Investments in debt securities at amortized cost 4.1.5 (71) Ps. (71) Total investment securities net Ps. 23,030,159 December 31, 2017 (1) Investments in debt securities available for sale 9.2 Ps. 17,790,127 Investments in debt securities held to maturity 9.3 2,899,039 Investments in equity securities available for sale 9.4 824,033 Total investment securities net Ps. 21,513,199 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5) (B).
Investments in debt securities at fair value through profit or loss	The following table includes investments on asset-backed securities mandatorily at FVTPL because the contractual cash flows of these securities are not SPPI on the principal outstanding. December 31, 2018 December 31, 2017 (1) Others 31,256 — Total investments in debt securities madatorily at FVTPL Ps. 31,256 Ps. — (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (B).
Investments in debt securities at fair value through OCI	December 31, 2018 Debt securities Cost Unrealized Gain Unrealized Losses Fair Value Securities issued or secured by Colombian Government Ps. 10,517,512 Ps. 65,724 Ps. (57,462) Ps. 10,525,774 Securities issued or secured by other Colombian Government entities 496,936 3,581 (2,882) 497,635 Securities issued or secured by foreign Governments 3,042,595 9,209 (36,248) 3,015,556 Securities issued or secured by central banks 1,133,337 1,058 (2,655) 1,131,740 Securities issued or secured by other financial entities 3,352,299 3,191 (47,010) 3,308,480 Securities issued or secured by non-financial sector entities 278,838 156 (69,054) 209,940 Others 251,878 121 (5,367) 246,632 Total debt securities at FVOCI Ps. 19,073,395 Ps. 83,040 Ps. (220,678) Ps. 18,935,757 December 31, 2017 - Available-for-sale securities (1) Debt securities Cost Unrealized Gain Unrealized Losses Fair Value Securities issued or secured by Colombian Government Ps. 9,442,457 Ps. 77,571 Ps. (35,103) Ps. 9,484,925 Securities issued or secured by other Colombian Government entities 656,294 13,251 (6,843) 662,702 Securities issued or secured by foreign Governments 2,113,106 8,655 (17,364) 2,104,397 Securities issued or secured by central banks 1,359,924 739 (3,789) 1,356,874 Securities issued or secured by other financial entities 3,621,311 11,853 (15,087) 3,618,077 Securities issued or secured by non-financial sector entities 347,285 21,725 (44,541) 324,469 Others 237,486 2,826 (1,629) 238,683 Total debt securities available-for-sale Ps. 17,777,863 Ps. 136,620 Ps. (124,356) Ps. 17,790,127 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5).
Schedule of Tabular disclosure of amounts reclassified to profit or loss form OCI gross of taxes, related to investment debt securities FVOCI	The following table shows amounts reclassified to profit or loss form OCI gross of taxes, related to investment debt securities FVOCI (2017 and 2016 available-for-sale): December 31, 2018 December 31, 2017 December 31, 2016 Redemptions or sales 43,574 73,953 25,911 ECL allowance (2017 and 2016: Impairment loss allowance) 31,809 — (70,146) Total reclassified to profit or loss Ps. 75,383 Ps. 73,953 Ps. (44,235)
Investments in debt securities at amortized cost	Debt securities December 31, 2018 December 31, 2017 Securities issued or secured by Colombian Government Ps. — Ps. 424 Securities issued or secured by other Colombian Government entities 2,931,172 2,839,286 Securities issued or secured by foreign Governments 32,321 26,864 Securities issued or secured by other financial entities 9,123 32,465 Total debt securities at amortized cost (2017 held-to-maturity) Ps. 2,972,616 Ps. 2,899,039
Summary of investments in debt securities at amortized cost by maturity dates	December 31, 2018 December 31, 2017 Up to 1 month Ps. 671,047 Ps. 722,026 More than 1 month and no more than 3 months 12,787 38,071 More than 3 months and no more than 1 year 2,287,755 2,133,344 More than 1 year and no more than 5 years 1,027 5,598 Ps. 2,972,616 Ps. 2,899,039
Investments in equity securities at fair value through OCI	December 31, 2018 Cost Unrealized Gain Unrealized Losses (*) Fair Value In Colombian Pesos Corporate stock Ps. 593,611 Ps. 476,023 Ps. (3,314) Ps. 1,066,320 In foreign currency Corporate stock 12,717 11,571 (7) 24,281 Total equity securities Ps. 606,328 Ps. 487,594 Ps. (3,321) Ps. 1,090,601 December 31, 2017 Cost Unrealized Gain Unrealized Losses (*) Fair Value In Colombian Pesos Corporate Stock Ps. 276,452 Ps. 541,520 Ps. (75) Ps. 817,897 In foreign currency Corporate Stock 452 5,684 — 6,136 Total equity securities Ps. 276,904 Ps. 547,204 Ps. (75) Ps. 824,033
Disclosure of equity instruments available for sale	Entity (*) December 31, 2018 December 31, 2017 Empresa de Energia de Bogota S.A. E.S.P. Ps. 841,279 Ps. 659,208 Gas Natural S.A. ESP 43,460 49,998 Mineros S.A. 45,706 56,546 Bolsa de Valores de Colombia S.A. 48,351 52,064 Sociedades Portuarias (1) 28,897 — Master Card 7,526 5,634 Others (1) 75,382 583 Total Ps. 1,090,601 Ps. 824,033 (*) These investments in equity securities have been designated as FVOCI taking into account that they represent strategic investments for Grupo Aval and therefore, they are not expected to be sold in a foreseeable future. (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (B)
Disclosure of detailed information about available for sale debt securities used in collateral repo operations	December 31, December 31, 2018 2017 Pledged as collateral in money market operations Securities issued or secured by foreign Governments Ps. 202,300 Ps. 148,816 Securities issued or secured by Colombian Government 3,195,548 2,215,568 Securities issued or secured by non-financial sector entities — — Securities issued or secured by other Colombian Government entities 63,605 133,701 Securities issued or secured by other financial entities 57,182 38,536 Others 39,602 50,273 Ps. 3,558,237 Ps. 2,586,894 Pledged as collateral in operations with derivative instruments Securities issued or secured by Colombian Government 1,087 77,736 Ps. 1,087 Ps. 77,736 Pledged as collateral to special entities such as CRCC, BR and BVC (*) Securities issued or secured by Colombian Government 471,579 291,878 Ps. 471,579 Ps. 291,878 Other collaterals Securities issued or secured by central banks 167,634 158,951 Ps. 167,634 Ps. 158,951 Ps. 4,198,537 Ps. 3,115,459 (*) Cámara de Riesgo Central de Contraparte – CRCC, Banco de la República – BR and Bolsa de Valores de Colombia – BVC

HEDGE ACCOUNTING (Tables)

HEDGE ACCOUNTING (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of detailed information about hedges [abstract]
Disclosure of detailed information about fluctuation in foreign exchange rates [Text Block]	Changes in the fluctuation of the Colombian peso against the U.S. dollar are as follows: Date Value of USD 1 Variation in pesos December 31, 2016 3,000.71 (148.76) December 31, 2017 2,984.00 (16.71) December 31, 2018 3,249.75 265.75
Disclosure of detailed information about movements in other comprehensive income related to hedges of net investment in foreign operations	According to information described above, the following table shows movements of OCI gross of taxes, related to hedges of net investment in foreign operations: Exchange Exchange Translation difference of difference adjustment of financial in forward Net OCI Detail of investment the investments liabilities contracts account Leasing Bogotá Panamá Ps. 1,064,099 Ps. (549,336) Ps. (514,343) Ps. 420 Other subsidiaries and branches Banco de Bogotá 33,088 — (32,967) 121 Occidental Bank Barbados 5,866 (5,866) — — Banco de Occidente Panamá 5,598 (5,598) — — Sociedad Portuaria El Cayao S.A. E.S.P. 7,865 (7,865) — — Gases del Pacífico S.A.C. 1,492 (1,492) — — Gas Natural de Lima y Callao S.A.C. – Calidda 6,724 (6,724) — — Total Ps. 1,124,732 Ps. (576,881) Ps. (547,310) Ps. 541
Disclosure of detailed information about hedge in foreign currency equity investments [Text Block]	According to information described above, the following table contains details of hedging operations carried out to cover foreign denominated equity investments. The analysis is presented gross of taxes: December 31, 2018 Thousands of USD Ps. millions Amount of hedge by Cumulative financial Amount of translation Exchange Exchange liabilities in hedge by adjustment difference of difference in Investment foreign forward of the investments financial forward Net OCI Detail of investment amount currency contracts (1) liabilities (1) contracts account Leasing Bogotá Panamá 3,964,051 (2,067,100) (1,896,348) Ps. 4,129,381 Ps. (1,595,205) Ps. (2,669,831) Ps. (135,655) Other subsidiaries and branches Banco de Bogotá (2) 126,380 — (121,116) 125,978 — (123,398) 2,580 Occidental Bank Barbados 23,971 (23,971) — 24,606 (24,606) — — Banco de Occidente Panamá 23,439 (23,439) — 35,577 (35,577) — — Sociedad Portuaria El Cayao S.A. E.S.P. (3) 31,214 (31,214) — 10,072 (10,072) — — Gases del Pacífico S.A.C. (3) 4,000 (4,000) — 2,394 (2,394) — — Gas Natural de Lima y Callao S.A.C. – Calidda (3) 31,649 (19,336) — 7,996 (7,996) — — Total 4,204,704 (2,169,060) (2,017,464) Ps. 4,336,004 Ps. (1,675,850) Ps. (2,793,229) Ps. (133,075) December 31, 2017 Thousands of USD Ps. millions Amount of hedge by Cumulative financial Amount of translation Exchange Exchange liabilities in hedge by adjustment difference of difference in Investment foreign forward of the investments financial forward Net OCI Detail of investment amount currency contracts (1) liabilities (1) contracts account Leasing Bogotá Panamá 3,781,475 (2,067,100) (1,703,009) Ps. 3,065,281 Ps. (1,045,872) Ps. (2,155,488) Ps. (136,079) Other subsidiaries and branches Banco de Bogotá (2) 113,909 — (112,049) 92,891 — (90,431) 2,460 Occidental Bank Barbados 26,396 (26,396) — 18,740 (18,740) — — Banco de Occidente Panamá 25,044 (25,044) — 29,979 (29,979) — — Sociedad Portuaria El Cayao S.A. E.S.P. (3) 25,000 (25,000) — 2,207 (2,207) — — Gases del Pacífico S.A.C. (3) 10,214 (10,214) — 902 (902) — — Gas Natural de Lima y Callao S.A.C. – Calidda (3) 15,895 (15,895) — 1,272 (1,272) — — Total 3,997,933 (2,169,649) (1,815,058) Ps. 3,211,272 Ps. (1,098,972) Ps. (2,245,919) Ps. (133,619) (1) Includes exchange difference hedged (2) Includes Banco de Bogotá Panamá, Banco Bogotá Finance, Ficentro and contributions of foreign branches in Miami, New York and Nassau. (3) Includes only a portion of this investments hedged
Disclosure of detailed information about hedges [text block]	The following is the summary of Promigas and its subsidiaries open cash flow hedges: December 31, 2018 December 31, 2017 Income in U.S. dollars forecasted 120,265 41,614 Notional amount contracts forward U.S. dollars 120,265 41,614 % hedged 100 % 100 % Fair value in Colombian pesos (13,414) 4,303 # of contracts 1,470 468
Disclosure of analysis of other comprehensive income by item [text block]	The movement of the accumulated OCI account related to cash flow hedges in Colombian pesos during the years ended on December 31, 2018, 2017 and 2016 is as follows: December 31, 2018 December 31, 2017 December 31, 2016 Balance at the beginning of the year Ps. 5,447 Ps. 7,419 Ps. (11,757) Changes in the fair value of the hedge forward contracts (19,513) 24,874 14,139 Reclassified to profit or loss (276) (26,846) 5,037 Balance at the end of the year Ps. (14,343) Ps. 5,447 Ps. 7,419
Disclosure of detailed information about derivative financial instruments for hedging [Text Block]	Derivative Financial Instruments for hedging purposes comprise the following: December 31, 2018 December 31, 2017 Item Assets Liabilities Assets Liabilities Forward contracts Foreign currency to buy Ps. 28,367 Ps. 1,128 Ps. 1 Ps. 5,455 Foreign currency to sale 1,771 194,411 55,260 8,009 Total hedge derivatives Ps. 30,138 Ps. 195,539 Ps. 55,261 Ps. 13,464 Total hedge derivatives, net Ps. (165,401) Ps. 41,797

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of loans and receivables [Abstract]
Disclosure of detailed information about distribution of the credit portfolio [Text Block]	The distribution of the loan portfolio of Grupo Aval by product is shown as follows: December 31, 2018 December 31, 2017 (1) General purpose loans Ps. 65,923,472 Ps. 64,153,372 Personal loans 33,791,703 30,553,566 Mortgages 17,279,362 15,103,533 Credit Cards 15,550,920 13,846,823 Working capital loans 15,192,830 14,723,490 Commercial financial leases 9,858,952 9,892,402 Interbank & overnight funds 7,635,188 7,279,047 Automobile and vehicle loans 5,951,793 5,896,640 Loans funded by development banks 3,222,754 2,713,818 Housing leases 1,312,741 1,047,766 Overdrafts 481,946 525,867 Microcredit 425,697 409,688 Consumer financial leases 254,483 226,764 Gross balance of loan portfolio Ps. 176,881,841 Ps. 166,372,776 Loss allowance loan portfolio (2) (8,196,187) (5,618,481) Net balance of loan portfolio Ps. 168,685,654 Ps. 160,754,295 (1) Grupo Aval has initially adopted IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (B). ( 2 ) See reconciliations from the opening to the closing balance of the loss allowance on note 4.1.5.
Disclosure of detailed information about distribution of loans portfolio by maturity period [Text Block]	The distribution of loan portfolio of Grupo Aval by contractual maturity period is as follows: December 31, 2018 Up to 1 From 1 to From 3 to More than year 3 years 5 years 5 years Total Commercial Ps. 46,119,981 Ps. 18,810,647 Ps. 11,234,938 Ps. 16,384,459 Ps. 92,550,025 Consumer 15,798,783 10,507,521 10,794,506 18,099,771 55,200,581 Residential mortgage 287,133 504,727 676,978 15,810,524 17,279,362 Microcredit 226,651 182,245 13,345 3,456 425,697 Financial leasing (*) 2,344,468 2,826,293 2,801,147 3,454,268 11,426,176 Total gross loan portfolio Ps. 64,777,016 Ps. 32,831,433 Ps. 25,520,914 Ps. 53,752,478 Ps. 176,881,841 December 31, 2017 Up to 1 From 1 to From 3 to More than year 3 years 5 years 5 years Total Commercial Ps. 44,888,149 Ps. 19,651,034 Ps. 11,088,553 Ps. 13,908,758 Ps. 89,536,494 Consumer 16,240,350 11,146,916 8,809,557 13,959,308 50,156,131 Residential mortgage 469,702 785,736 857,039 12,991,056 15,103,533 Microcredit 209,364 178,052 17,707 4,565 409,688 Financial leasing (*) 2,159,750 2,889,713 2,496,769 3,620,698 11,166,930 Total gross loan portfolio Ps. 63,967,315 Ps. 34,651,451 Ps. 23,269,625 Ps. 44,484,385 Ps. 166,372,776
Disclosure of detailed information about interest income by portfolio	The interest income of the loan portfolio of Grupo Aval by portfolio is shown as follows: December 31, 2018 December 31, 2017 December 31, 2016 Commercial Ps. 7,559,392 Ps. 8,420,789 Ps. 8,100,635 Consumer 8,280,113 8,087,403 7,312,009 Residential mortgage 1,442,638 1,278,001 1,135,929 Microcredit 108,472 113,774 116,943 Total interest income by portfolio Ps. 17,390,615 Ps. 17,899,967 Ps. 16,665,516
Disclosure of detailed information about reconciliation of undiscounted lease payments to net investment in finance lease [Text Block]	As of December 31, 2018, and 2017 the following table shows the reconciliation between gross investment in financial leasing and the present value of minimum payments to be received in these dates: December 31, 2018 December 31, 2017 Total gross rent payments receivable Ps. 17,372,906 Ps. 16,445,998 Less amounts representing running costs (such as taxes, maintenance, insurances, etc.,) (286) (225) Plus, estimated residual amount of assets given for rental (without guarantee) 36,166 21,673 Gross investment in contracts of financial leasing 17,408,786 16,467,446 Less unrealized financial income (5,982,610) (5,300,516) Net investment in contracts of financial leasing 11,426,176 11,166,930 Impairment of net investment in financial leasing Ps. (471,007) Ps. (297,319)
Disclosure of detailed information about gross investment and net investment in financial leasing contracts receivable [Text Block]	The detailed information of gross investment and net investment in financial leasing contracts receivable as of December 31, 2018 and 2017 in each period is as follows: December 31, 2018 Gross investment Net investment Up to 1 year Ps. 2,296,714 Ps. 1,579,195 From 1 to 5 years 6,799,539 4,870,790 More than 5 years 8,312,533 4,976,191 Total Ps. 17,408,786 Ps. 11,426,176 December 31, 2017 Gross investment Net investment Up to 1 year Ps. 2,147,421 Ps. 1,614,889 From 1 to 5 years 6,428,242 4,986,723 More than 5 years 7,891,783 4,565,318 Total Ps. 16,467,446 Ps. 11,166,930

OTHER ACCOUNTS RECEIVABLE, NET

OTHER ACCOUNTS RECEIVABLE, NET (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of other accounts receivables [Abstract]
Disclosure of detailed information about other receivables	Balances of other accounts receivable net of impairment losses comprise the following as of December 31, 2018 and 2017: December 31, December 31, Reference 2018 2017 (1) Contract assets 12.1 Ps. 5,119,649 Ps. 3,068,629 Other accounts receivable 12.2 4,437,885 3,680,116 Total other accounts receivable 9,557,534 6,748,745 Impairment allowance 4.1.5 (256,891) (226,862) Total other accounts receivable, net Ps. 9,300,643 Ps. 6,521,883 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.
Disclosure of detailed information about contract assets	The following table provides information about assets from contracts with customers as of December 31, 2018 and 2017: Contract assets December 31, 2018 December 31, 2017 (1) Financial assets in concession arrangements rights at fair value (2) Ps. 2,488,414 Ps. 2,282,611 Financial assets in concession arrangements rights at amortized cost (2) 2,631,235 786,018 Gross balance of other accounts receivable Ps. 5,119,649 Ps. 3,068,629 Impairment allowance (3)(4) (966) — Total contract assets Ps. 5,118,683 Ps. 3,068,629 (1) Grupo Aval has initially adopted IFRS 15 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (A), information about 2017 (2) See note 16 details about concession arrangements rights (3) Grupo Aval has initially adopted IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (B) (4) See reconciliations from the opening to the closing balance of the loss allowance on note 4.1.5.
Disclosure Of Detailed Information About Other Accounts Receivables [Text Block]	The detailed information of other accounts receivable measured at amortized cost as of December 31, 2018 and 2017 is as follows: Other accounts receivable measured at amortized cost December 31, 2018 December 31, 2017 Accounts receivable for goods and services sales in Non-financial sector companies Ps. 962,364 Ps. 1,070,936 Debtors 406,079 224,340 Guarantee deposits in foreing currency transactions 377,751 142,168 Credit card compensations and network compensation 372,702 426,090 Payment in advance 370,144 228,765 Transfers in process 330,941 185,634 Dormant customer deposits ICETEX (1)(2) 279,219 256,806 Commissions 244,669 186,646 Fees, services and advances 241,147 224,418 Payment in advance to supplier's contract 151,313 117,858 Holding and parent establishment 136,551 114,513 Accounts receivable to payment offices 69,996 34,432 Transfers to the National Treasury (2) 61,046 58,042 Storage services 40,265 43,767 Quota shares retirement pensions 29,768 28,485 Promissory sellers 20,785 15,144 Claims to insurance companies 14,142 14,450 Deductible taxes 10,234 11,961 Payment in advance for industry and trade taxes 9,563 13,392 Dividends 1,086 3,561 Others (5) 308,120 278,708 Gross balance of other accounts receivable Ps. 4,437,885 Ps. 3,680,116 Impairment allowance (3)(4) (255,925) (226,862) Other accounts receivable, net Ps. 4,181,960 Ps. 3,453,254 (1) Pursuant to Colombian Law number 1777 of 2016, financial institutions in Colombia since August 1, 2016, must transfer the funds from clients’ in dormant customer deposits to a special fund as a loan to a Colombian Government entity denominated “ICETEX”, and classified as “Other accounts receivable” given it is permanently deemed refundable to any particular client. This Government Entity Fund is responsible for managing the monies funds with the commitment to return them at the time the bank customer account holder requests them. Dormant client’s customer deposits are accounts of savings or current accounts that exceed the 322 UVR (Real Value Units) equivalent to Ps. 260.665 pesos, on which no deposit, withdrawal, transfer or, in general, debit or credit movements have been made during an uninterrupted period of three years. (2) The expected dates of realization for these assets is more than twelve months (3) Grupo Aval has initially adopted IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5 (B) (4) See reconciliations from the opening to the closing balance of the loss allowance on note 4.1.5. (5) The table below shows detail of the others
Schedule of details others	Detail others December 31, 2018 December 31, 2017 Receivable from forward contracts Ps. 130,989 Ps. 99,473 Interest 52,948 36,646 Other taxes 21,321 43,373 Value added taxes 39,098 2,806 Deficiency in savings accounts 6,864 6,074 Joint ventures 5,172 6,879 ACH, PSE, CENIT fees 4,988 8,732 Transaction fees 4,731 — Operative process 4,486 4,408 Credit card brands compensations 3,247 — SIIF condonations 2,219 4,435 Others 32,057 65,882 Total Ps. 308,120 Ps. 278,708

NON-CURRENT ASSETS HELD FOR S_2

NON-CURRENT ASSETS HELD FOR SALE (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of non-current assets held for sale [Abstract]
Disclosure Of Detailed Information About Movements Of Non-Current Assets Held For Sale [Text Block]	The movement of the non-current assets held for sale during the years ended December 31, 2018, 2017 and 2016 is as follows: December 31, 2018 December 31, 2017 December 31, 2016 Balance at the beginning of the year Ps. 101,382 Ps. 259,527 Ps. 199,475 Additions 180,296 89,216 236,632 Assets sold (52,164) (78,784) (130,784) Changes in fair value (25,136) (37,818) (34,572) Reclassifications (1) (20,038) (134,795) (5,631) Exchange gains in foreign currency 2,374 4,036 (5,593) Balance at year end Ps. 186,714 Ps. 101,382 Ps. 259,527 (1) Includes reclassifications to: I) Investment properties by Ps. (19,718), II) other assets by Ps. (299) and III) Investments by Ps. (21) at December 2018 and I) Investment properties by PS. (108,924); II) Investments by Ps. (23,368) and III) Other assets by Ps. (2,503) at December 2017.
Disclosure of non-current assets or disposal groups classified as held for sale [text block]	The following is the detail of the non-current assets held for sale: December 31, 2018 December 31, 2017 Foreclosed assets Movable property Ps. 19,733 Ps. 8,523 Residential real estate 33,622 31,666 Other real estate 88,569 37,061 Ps. 141,924 Ps. 77,250 Assets received from leasing agreements Machinery and equipment 14,989 15,640 Vehicles 984 1,623 Real estate 25,060 1,963 Ps. 41,033 Ps. 19,226 Other non-current assets held for sale Real estate 3,517 982 Other 240 3,924 3,757 4,906 Total non-current assets held for sale Ps. 186,714 Ps. 101,382
Disclosure Of Detailed Information About Liabilities With Groups Of Assets Held For Sale [Text Block]	Following is the detail of the associated liabilities to assets held for sale: December 31, 2018 December 31, 2017 Commercial accounts payable Ps. 15,876 Ps. 18,382 Total Ps. 15,876 Ps. 18,382

INVESTMENTS IN ASSOCIATES AND_2

INVESTMENTS IN ASSOCIATES AND JOINT VENTURES (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of investments in associates and joint ventures [Abstract]
Disclosure Of Detailed Information about Investment In Associates And Joint Ventures [Text Block]	The detail of the investments in associates and joint ventures is as follows: December 31, 2018 December 31, 2017 Associates Ps. 975,032 Ps. 925,823 Joint ventures 7,711 117,191 Total Ps. 982,743 Ps. 1,043,014
Disclosure of interests in associates [text block]	The following table shows the balances of each investment in associates and joint ventures as of December 31, 2018 and 2017, and Grupo Aval’s ownership interest percentage in those entities: December 31, 2018 December 31, 2017 Ownership Book Ownership Book interest value interest value Associates A.C.H Colombia S.A. 34 % Ps. 14,010 34 % Ps. 12,357 Redeban Multicolor S.A. 20 % 20,508 20 % 19,529 Credibanco 25 % 195,157 25 % 196,071 Aerocali S.A. 50 % 19,157 50 % 17,633 Colombiana de Extrusión S.A. Extrucol 30 % 11,327 30 % 11,476 Concesionaria Tibitoc S.A. 33 % 18,339 33 % 20,165 Metrex S.A. 18 % 2,054 18 % 2,559 C.I. Acepalma S.A. (*) 11 % 5,458 11 % 5,625 Gases del Caribe S.A. E.S.P. 31 % 269,185 31 % 269,739 Gas Natural de Lima y Callao S.A. -Calidda S.A. 40 % 410,984 40 % 363,139 Energía Eficiente S.A. 39 % 8,252 39 % 6,927 Concentra Inteligencia en Energía S.A.S. 24 % 601 24 % 603 Ps. 975,032 Ps. 925,823
Disclosure of interests in joint arrangements [text block]	December 31, 2018 December 31, 2017 Ownership Book Ownership Book interest value interest value Joint ventures Cfc Sk Eldorado Latam Advisory Company S.A.S. (1) 50 % Ps. 398 50 % Ps. 345 Cfc Sk El Dorado Latam Management Company Ltd (1) 50 % 6,764 50 % 4,568 Cfc Sk El Dorado Latam Capital Partner Ltd (1) 50 % 549 50 % 495 Concesionaria Ruta Del Sol S.A.S. (2) (**) 33 % — 33 % 111,783 Ps. 7,711 Ps. 117,191 (*) Grupo Aval has significant influence over C.I. Acepalma S.A. due to its participation in the Board of Directors. (**) On December 31, 2018 the investment in Concesionaria Ruta del Sol S.A.S. has been provisioned at 100% by Ps.111,783.
Disclosure of detailed information about movement of investments in associates and joint ventures accounts [Text Block]	A roll-forward of investments in associates and joint ventures accounts is shown below for the years ended at December 31, 2018, 2017 and 2016: Associates December 31, December 31, December 31, 2018 2017 2016 Balance at the beginning of the year Ps. 925,823 Ps. 865,410 Ps. 645,377 Change in accounting policy see note 2.5 B (IFRS 9) (3,691) — — Acquisitions — — 16 Gain in non-monetary transactions (*) — — Participation in the profit or loss of the period 195,991 170,349 Participation in Other Comprehensive Income 22,400 1,135 (17,949) Dividends received (171,899) (107,812) (96,375) Capitalization reductions — — (4,746) Allowance for Impairment — — (4,027) Reclassifications — — — Exchange difference 6,408 (3,259) (267) Year-end balance Ps. 975,032 Ps. 925,823 Ps. (*) Since November 30, 2016, Grupo Aval has significant influence on Credibanco. On August 26, 2016 Credibanco’s General Shareholders Meeting agreed to transform the society from a non-profit organization to a Limited Liability Company, which is now accounted for as an associate. Joint ventures December 31, December 31, December 31, 2018 2017 2016 Balance at the beginning of the year Ps. 117,191 Ps. 281,237 Ps. 282,222 Participation in the period profit or loss 1,724 1,615 (7,102) Participation in Other Comprehensive Income — (7) (2,112) Dividends received — — — Capitalization — 87 17,282 Allowance for impairment (*) (111,783) (140,691) (5,892) Transfers / reclassification — (12,405) (3,569) Exchange difference 579 — 408 Balance acquired in business combination — (12,645) — Year-end balance Ps. 7,711 Ps. 117,191 Ps. 281,237 (*) Impairment of the investment in the Concesionaria Ruta del Sol S.A.S. joint businesses (CRDS).
Disclosure of associates [text block]	The condensed financial information of the associates and joint ventures is as follows: Associates December 31, 2018 Assets Liabilities Equity Income Expenses Net income A.C.H. Colombia S.A. Ps. 78,878 Ps. 37,437 Ps. 41,441 Ps. 83,612 Ps. 64,067 Ps. 19,545 Redeban Multicolor S.A. 213,133 111,626 101,507 214,360 201,980 12,380 Credibanco 263,521 93,951 169,570 240,489 219,166 21,323 Aerocali S.A. 104,506 66,191 38,315 214,805 205,171 9,634 Colombiana de Extrusión S.A. Extrucol 86,398 48,642 37,756 113,749 108,781 4,968 Concesionaria Tibitoc S.A. 57,420 2,403 55,017 20,468 15,964 4,504 Metrex S.A. 31,482 19,938 11,544 43,468 41,254 2,214 C.I. Acepalma 281,161 232,843 48,318 723,908 717,637 6,271 Gases del Caribe S.A. 2,585,669 1,608,107 977,562 1,938,431 1,646,970 291,461 Cálidda S.A. 2,943,477 1,916,017 1,027,460 2,007,368 1,804,907 202,461 Concentra Inteligencia en Energía S.A.S. 2,560 435 2,125 1,234 1,292 (58) Energía Eficiente S.A. 57,226 36,188 21,038 112,914 109,488 3,426 Ps. 6,705,431 Ps. 4,173,778 Ps. 2,531,653 Ps. 5,714,806 Ps. 5,136,667 Ps. 578,129 December 31, 2017 Assets Liabilities Equity Income Expenses Net income A.C.H. Colombia S.A. Ps. 56,670 Ps. 20,119 Ps. 36,551 Ps. 69,120 Ps. 54,746 Ps. 14,374 Redeban Multicolor S.A. 177,667 81,001 96,666 160,470 149,902 10,568 Credibanco 253,991 84,294 169,697 207,592 180,422 27,170 Aerocali S.A. 133,977 99,008 34,969 117,169 100,900 16,269 Colombiana de Extrusión S.A. Extrucol 68,059 29,807 38,252 65,870 62,201 3,669 Concesionaria Tibitoc S.A. 79,566 19,069 60,497 47,125 34,003 13,122 Metrex S.A. 38,933 24,726 14,207 47,763 43,003 4,760 C.I. Acepalma 290,406 240,547 49,859 798,782 789,925 8,857 Gases del Caribe S.A. 2,363,464 1,481,320 882,144 1,577,041 1,343,286 233,755 Cálidda S.A. 2,441,398 1,536,738 904,660 1,575,804 1,402,709 173,095 Concentra Inteligencia en Energía S.A.S. 2,331 231 2,100 1,634 1,491 143 Energía Eficiente S.A. 40,853 23,142 17,711 92,170 89,709 2,461 Ps. 5,947,315 Ps. 3,640,002 Ps. 2,307,313 Ps. 4,760,540 Ps. 4,252,297 Ps. 508,243
Disclosure of joint ventures [text block]	December 31, 2018 Assets Liabilities Equity Income Expenses Net income CFC SK Eldorado Latam Advisory Company S.A.S. Ps. 1,077 Ps. 281 Ps. 796 Ps. 1,939 Ps. 1,762 Ps. 177 Cfc Sk Eldorado Latam Management Company Ltd. 13,573 45 13,528 3,697 410 3,287 Cfc Sk Eldorado Latam Capital Partners, Ltd. 1,125 26 1,099 150 126 24 Ps. 15,775 Ps. 352 Ps. 15,423 Ps. 5,786 Ps. 2,298 Ps 3,488 December 31, 2017 Assets Liabilities Equity Income Expenses Net income CFC SK Eldorado Latam Advisory Company S.A.S. Ps. 893 Ps. 204 Ps. 689 Ps. 2,037 Ps. 1,877 Ps. 159 Cfc Sk Eldorado Latam Management Company Ltd. 9,169 34 9,135 3,584 374 3,210 Cfc Sk Eldorado Latam Capital Partners, Ltd. 1,007 16 991 — 131 (131) Concesionaria Vial del Pacífico (*) 424,888 424,379 509 113,113 115,567 (2,454) Concesionaria Nueva Vía al Mar (*) 188,731 166,955 21,776 26,215 23,049 3,166 Ps. 624,688 Ps. 591,588 Ps. 33,100 Ps. 144,949 Ps. 140,998 Ps 3,950 (*) As of December 2017, the investment stopped being a Joint Venture and became a controlled investment. (See note 15, this acquisition is considered non-significant).

TANGIBLE ASSETS (Tables)

TANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
Disclosure of detailed information about property, plant and equipment [text block]	The movement of the carrying value amounts of tangible assets for the years ended on December 31, 2018, 2017 and 2016 is as follows: For own Given in Investment Biological assets use (2) operating leases properties (4) at fair value Total Cost Balance as of January 1, 2016 Ps. 7,969,593 Ps. 10,491 Ps. 538,246 Ps. 240,212 Ps. 8,758,542 Reclassification of bearer plants balance (1) 188,177 — — (188,177) — Effects of amendments in accounting policies of bearer plants 29 — — (18,108) (18,079) Purchases or capitalized expenses 814,194 362 71,268 21,432 907,256 Withdrawals / Sales (367,987) (3,806) (61,786) (20,670) (454,249) Changes in fair value — — 53,680 14,644 68,324 Transfers to/from non-current assets held for sale (18,704) — 11,319 — (7,385) Adjustments for exchange differences (138,320) — — — (138,320) Reclassifications (58,046) — (2,539) (1,331) (61,916) Balance as of December 31, 2016 8,388,936 7,047 610,188 48,002 9,054,173 Purchases or capitalized expenses 470,650 3,102 84,036 24,409 582,197 Withdrawals / Sales (5) (374,606) (2,467) (28,431) (19,775) (425,279) Changes in fair value — — 46,675 13,503 60,178 Transfers to/from non-current assets held for sale 587 — 101,469 — 102,056 Adjustments for exchange differences (65,404) — — — (65,404) Reclassifications 77,394 — (30,143) — 47,251 Balance as of December 31, 2017 8,497,557 7,682 783,794 66,139 9,355,172 Purchases or capitalized expenses (3) 547,668 1,641 61,300 20,900 631,509 Withdrawals / Sales (5) (389,303) (1,539) (78,684) (23,343) (492,869) Changes in fair value (6) — — 39,415 20,606 60,021 Transfers to/from non-current assets held for sale 1,335 — 19,719 — 21,054 Adjustments for exchange differences 120,766 — — — 120,766 Reclassifications (37,538) — 10,780 (96) (26,854) Balance as of December 31, 2018 8,740,485 7,784 836,324 84,206 9,668,799 Accumulated Depreciation: Balance January 1, 2016 (2,236,346) (7,064) — — (2,243,410) IAS 41 Adoption Effect – agriculture (29) — — — (29) Depreciation for the year charged to profit or loss (454,620) (1,232) — — (455,852) Withdrawals / Sales 126,782 3,413 — — 130,195 Transfers to/from non-current assets held for sale 10,781 — — — 10,781 Adjustments for exchange differences 71,582 — — — 71,582 Reclassification (5,338) — — — (5,338) Balance December 31, 2016 (2,487,188) (4,883) — — (2,492,071) Depreciation of the year charged against profit or loss (463,133) (759) — — (463,892) Withdrawals / Sales (5) 274,804 2,036 — — 276,840 Adjustments for exchange differences 20,881 — — — 20,881 Reclassification (35,531) — — — (35,531) Balance December 31, 2017 (2,690,167) (3,606) — — (2,693,773) Depreciation of the year charged against profit or loss (477,260) (1,346) — — (478,606) Withdrawals / Sales (5) 164,541 1,381 — — 165,922 Adjustments for exchange differences (63,058) — — — (63,058) Reclassification (4,897) — — — (4,897) Balance December 31, 2018 (3,070,841) (3,571) — — (3,074,412) Impairment losses: Balance as of January 1, 2016 (1,017) (67) — — (1,084) Year impairment charge (1,482) (21) — — (1,503) Balance as of December 31, 2016 (2,499) (88) — — (2,587) Withdrawals / Year impairment charge (4,894) 88 — — (4,806) Balance as of December 31, 2017 (7,393) — — — (7,393) Withdrawals / Year impairment charge 1,492 (3) — — 1,489 Balance as of December 31, 2018 (5,901) (3) — — (5,904) Tangible Assets, net: Balance as of December 31, 2017 Ps. 5,799,997 Ps. 4,076 Ps. 783,794 Ps. 66,139 Ps. 6,654,006 Balance as of December 31, 2018 Ps. 5,663,743 Ps. 4,210 Ps. 836,324 Ps. 84,206 Ps. 6,588,483 (1) Recognition of bearer plants See note 2.19. (2) Only includes assets for own use different than assets given in operating lease (see note 15.2). (3) The total of purchases of for own use, includes Ps. 325 for capitalization of intangible. (4) The total of purchases of investment properties, includes Ps. 6,895 at December 31, 2018 and Ps. 8,219 at December 31, 2017, of assets received in total or partial settlement of the payment obligations of debtors. (5) The total of Withdrawals includes Ps. (114,099) in Own Use, Ps. 3,064 in investment properties and Ps. (4,225) in biological assets, from the liquidation of “Pizano and Banco Corficolombiana Panamá” at December 31, 2018 and Ps. (30,440) in Own Use of the liquidation of “Consorcio Consol” at December 31, 2017. (6) The total of changes in fair value of investment properties includes Ps. 9,888 by Withdrawals of the period.
Disclosure of finance lease and operating lease by lessor [text block]	Below is a summary of the minimum lease payments to be received in the next years based on assets given in operating lease to December 31, 2018 and 2017: December 31, December 31, 2018 2017 Less than a year Ps. 2,313 Ps. 2,833 More than a year, less than 5 2,588 2,435 Total Ps. 4,901 Ps. 5,268
Disclosure of reconciliation of changes in biological assets [text block]	Following is the detail of the biological assets by type: December 31, 2018 December 31, 2017 African palm In production (at fair value) Ps. 29,783 Ps. 26,555 Rubber plantations In production (at fair value) 41,533 24,158 Other at fair value (1) 12,890 15,426 Total Ps. 84,206 Ps. 66,139 (1) Includes short-term crops, livestock and fish farming.
Disclosure of income loss from biological assets [text block]	During the years ended on December 31, 2018, 2017 and 2016, Grupo Aval recorded in its statement of income the following and expenses income related to biological assets: December 31, December 31, December 31, 2018 2017 2016 Sales of biological goods Ps. 88,382 Ps. 43,788 Ps. 39,032 Changes in fair value of biological assets 20,606 13,503 14,644 Subtotal 108,988 57,291 53,676 Costs and expenses (73,981) (37,313) (27,067) Depreciation of bearer plants (11,816) (3,405) (2,665) General administration costs and sales (5,390) (7,278) (4,379) Financial costs (5,599) (4,136) (2,285) Subtotal (96,786) (52,132) (36,396) Total net income Ps. 12,202 Ps. 5,159 Ps. 17,280
Disclosure of information about areas planted in hectares	The following is the detail of the hectares sown by subordinates of Grupo Aval in the process of growth and in the production process as of December 31, 2018 and 2017: December 31, December 31, 2018 2017 Areas planted in hectares In production process 8,534 7,731
Disclosure of maturity analysis of areas planted in hectares	The following is the detail of hectares for expected years of production: December 31, December 31, 2018 2017 Areas planted in hectares Less than 1 year 1,639 1,168 Between 1 and 5 years 3,194 1,078 Between 5 and 10 years 1,966 2,074 More than 10 years 1,735 3,411 Total 8,534 7,731
Disclosure of detailed information about investment property [text block]	The following table summarizes investment properties as of December 31, 2018 and 2017: Accumulated adjustments to fair December 31, 2018 Cost value Carrying amount Land Ps. 371,087 Ps. 198,252 Ps. 569,339 Buildings 215,712 51,273 266,985 Balance as of December 31, 2018 Ps. 586,799 Ps. 249,525 Ps. 836,324 Accumulated adjustments to fair December 31, 2017 Cost value Carrying amount Land Ps. 365,675 Ps. 159,836 Ps. 525,511 Buildings 217,897 40,386 258,283 Balance as of December 31, 2017 Ps. 583,572 Ps. 200,222 Ps. 783,794
Disclosure of rental income from investment property, net of direct operating expense [text block]	The following amounts have been recognized in the Consolidated Statement of Income during the years ended on December 31, 2018, 2017 and 2016 in relation to investments properties: December 31, December 31, December 31, 2018 2017 2016 Income from rents Ps. 10,370 Ps. 11,992 Ps. 5,183 Direct operating expenses deriving from property investments which create income from rent (1,486) (1,053) (321) Direct operating expenses deriving from property investments which do not create income from rent (5,112) (4,239) (1,328) Ps. 3,772 Ps. 6,700 Ps. 3,534
Property, plant and equipment for own use
Disclosure of detailed information about property, plant and equipment [line items]
Disclosure of detailed information about property, plant and equipment [text block]	The following is the detail of the balance at December 31, 2018 and 2017, by type: Accumulated Impairment Carrying Cost depreciation loss amount December 31, 2018 Land Ps. 1,011,018 Ps. — Ps. (3,742) Ps. 1,007,276 Buildings 2,652,100 (569,741) — 2,082,359 Office equipment and accessories 1,013,974 (684,617) (262) 329,095 Information technology equipment 1,725,795 (1,260,973) — 464,822 Vehicles 134,417 (70,826) (35) 63,556 Equipment and machinery 1,354,271 (222,139) (1,862) 1,130,270 Silos 8,613 (5,739) — 2,874 Warehouses 44,416 (26,679) — 17,737 Advanced payments for the acquisition of plant property and equipment 1,284 — — 1,284 Improvements in leaseholds properties 381,158 (220,939) — 160,219 Construction in progress 185,264 — — 185,264 Bearer plants 228,175 (9,188) — 218,987 Balance as of December 31, 2018 Ps. 8,740,485 Ps. (3,070,841) Ps. (5,901) Ps. 5,663,743 Accumulated Impairment Carrying Cost depreciation loss amount December 31, 2017 Land Ps. 1,007,788 Ps. — Ps. (3,741) Ps. 1,004,047 Buildings 2,640,644 (485,924) (116) 2,154,604 Office equipment and accessories 944,127 (613,400) (226) 330,501 Information technology equipment 1,573,284 (1,121,179) (11) 452,094 Vehicles 131,301 (62,304) — 68,997 Equipment and machinery 1,362,242 (187,500) (3,299) 1,171,443 Silos 8,613 (4,760) — 3,853 Warehouses 43,592 (25,734) — 17,858 Advanced payments for the acquisition of plant property and equipment 6,974 — — 6,974 Improvements in leaseholds properties 348,431 (182,318) — 166,113 Construction in progress 211,120 — — 211,120 Bearer plants 219,441 (7,048) — 212,393 Balance as of December 31, 2017 Ps. 8,497,557 Ps. (2,690,167) Ps. (7,393) Ps. 5,799,997
Property, plant and equipment under operating leases
Disclosure of detailed information about property, plant and equipment [line items]
Disclosure of finance lease and operating lease by lessor [text block]	The following is movement of carrying value amounts of the balance to as of December 31, 2018 and 2017, by type: Accumulated Impairment Carrying December 31, 2018 Cost depreciation loss amount Equipment, furniture and office equipment Ps. 98 Ps. (98) Ps. — Ps. — Computing equipment 4,041 (1,641) 1 2,401 Vehicles 3,176 (1,648) (4) 1,524 Mobilization equipment and machinery 469 (184) — 285 Balance as of December 31, 2018 Ps. 7,784 Ps. (3,571) Ps. (3) Ps. 4,210 Accumulated Impairment Carrying December 31, 2017 Cost depreciation loss amount Equipment, furniture and office equipment Ps. 203 Ps. (203) Ps. — Ps. — Computing equipment 3,363 (1,484) — 1,879 Vehicles 3,627 (1,834) — 1,793 Mobilization equipment and machinery 489 (85) — 404 Balance as of December 31, 2017 Ps. 7,682 Ps. (3,606) Ps. — Ps. 4,076

CONCESSION ARRANGEMENTS RIGHTS

CONCESSION ARRANGEMENTS RIGHTS (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of detailed information about service concession arrangements [abstract]
Disclosure of balance of assets in concession agreements [text block]	December 31, 2018 December 31, 2017 Financial assets at fair value (3) Ps. 2,488,414 Ps. 2,282,611 Financial asset at amortized cost net (1) (2) (3) 2,630,269 786,018 Intangible asset (2) 5,514,481 3,114,167 Total assets in concession contracts Ps. 10,633,164 Ps. 6,182,796 (1) At December 31, 2018, the balance of the financial asset at amortized cost includes an impairment expense of Ps. 966, see note 16.1. (2) Grupo Aval has initially adopted IFRS 15 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See notes 2.5. (3) See note 12, other accounts receivables.
Disclosure of detailed information about service concession arrangements [text block]	Gas and Energy Infrastructure Total Balance at December 31, 2015 Ps. Ps. Ps. Additions or new concession arrangements — Collections during the year — Adjustment to fair value credited to income — Accrued interest — Balance at December 31, 2016 Ps. Ps. Ps. Additions or new concession arrangements (1) — Collections during the year — Adjustment to fair value credited to income — Accrued interest — Balance at December 31, 2017 Ps. Ps. Ps. Impact of the adoption of IFRS 15 (2) — Impact of the adoption of IFRS 9 (2) (3) — Balance at January 01, 2018 Ps. Ps. Ps. Additions or new concession arrangements — Collections during the year — Adjustment to fair value credited to income — Accrued interest — Impairment expense — Balance at December 31, 2018 Ps. Ps. Ps. (1) Corporación Financiera Colombiana - Corficolombiana S.A., acquired an additional 40% of the Concesionaria Vial del Pacífico S.A.S. and an additional 40% of the Concesionaria Nueva Vía al Mar S.A.S., both domiciled in Colombia, increasing amortized cost in Ps. 396,467 (this acquisition is considered non-significant). (2) Grupo Aval has initially adopted IFRS 15 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5. (3) See note 12, other accounts receivables.
Disclosure of detailed information about intangible assets [text block]	Gas and energy Infrastructure Total Cost At December 31, 2015 Ps. 1,884,476 Ps. 888,834 Ps. 2,773,310 Additions 421,202 190,977 612,179 Reclassification to PPE 68,587 4 68,591 Withdrawals / Sales (4,334) (17) (4,351) At December 31, 2016 Ps. 2,369,931 Ps. 1,079,798 Ps. 3,449,729 Additions 193,489 417,420 610,909 Reclassification to PPE (14,408) — (14,408) Withdrawals / Sales (1,915) (1,590) (3,505) Foreign exchange adjustment (1,041) — (1,041) At December 31, 2017 Ps. 2,546,056 Ps. 1,495,628 Ps. 4,041,684 Impact of the adoption of IFRS 15 (2) — 619,949 619,949 Balance at January 01, 2018 Ps. 2,546,056 Ps. 2,115,577 Ps. 4,661,633 Additions 428,375 1,617,306 2,045,681 Reclassification to PPE 25,840 — 25,840 Withdrawals / Sales (1,250) (124) (1,374) Foreign exchange adjustment 33,993 — 33,993 At December 31, 2018 Ps. 3,033,014 Ps. 3,732,759 Ps. 6,765,773 Accumulated Amortization At December 31, 2015 Ps. (149,743) Ps. (232,865) Ps. (382,608) Amortization of the year (100,850) (159,817) (260,667) Reclassification to PPE (2,111) (2) (2,113) Withdrawals / sales 973 — 973 At December 31, 2016 Ps. (251,731) Ps. (392,684) Ps. (644,415) Amortization of the year (119,549) (164,940) (284,489) Reclassification to PPE 841 — 841 Withdrawals / sales 630 — 630 Foreign exchange adjustment (84) — (84) At December 31, 2017 Ps. (369,893) Ps. (557,624) Ps. (927,517) Amortization of the year (129,509) (170,701) (300,210) Reclassification to PPE (665) — (665) Withdrawals / sales (1) 147 (21,230) (21,083) Foreign exchange adjustment (1,817) — (1,817) At December 31, 2018 Ps. (501,737) Ps. (749,555) Ps. (1,251,292) Total Intangible Assets Balance at December 31, 2015 Ps. 1,734,733 Ps. 655,969 Ps. 2,390,702 Cost 485,455 190,964 676,419 Amortization (101,988) (159,819) (261,807) Balance at December 31, 2016 Ps. 2,118,200 Ps. 687,114 Ps. 2,805,314 Cost 176,125 415,830 591,955 Amortization (118,162) (164,940) (283,102) Balance at December 31, 2017 Ps. 2,176,163 Ps. 938,004 Ps. 3,114,167 Impact of the adoption of IFRS 15 (2) — 619,949 619,949 Balance at January 01, 2018 2,176,163 Ps. 1,557,953 Ps. 3,734,116 Cost 486,958 1,617,182 2,104,140 Amortization (131,844) (191,931) (323,775) Balance at December 31, 2018 Ps. 2,531,277 Ps. 2,983,204 Ps. 5,514,481 (1) In infrastructure, Proyectos de Infraestructura PISA S.A. includes an amortization of Ps. 21,230 that was offset with a liability outstanding with Agencia Nacional de Infraestructura – (ANI), due to the liquidation of the capacity records with the ANI. (2) Grupo Aval has initially adopted IFRS 15 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5.
Disclosure of Concession Contracts Granted to Subsidiaries and Other Related Parties [Text Block]	Year of Concession Contract construction % progress Concession Owner Business and country Objective Current stage date start of construction end date Gas and Energy Surtigas S.A. E.S.P. Gas and Energy Colombia Purchase, storage, packaging and distribution of gases derived from hydrocarbons. Operation 03/1984 to 04/1994 1984 100 % 2034 to 2045 Transmetano E.S.P. S.A. Gas and Energy Colombia Construction, operation and maintenance of gas transportation systems. Operation and maintenance 08/1994 1996 100 % 2044 Promigas S.A. E.S.P. Gas and Energy Colombia Purchase, sale, transportation, distribution, exploitation and exploration of natural gas, oil and hydrocarbons in general. Operation 05/1976 to 11/1994 1976 100 % 2026 to 2044 Promioriente S.A. E.S.P. Gas and Energy Colombia Construction, operation and maintenance of gas pipelines. Operation and maintenance 09/1995 1995 100 % 2045 Gases de Occidente S.A. E.S.P. Gas and Energy Colombia Transportation and distribution of liquefied petroleum gas and natural gas. Operation 08/1998 1998 100 % 2047 Compañía Energética de Occidente S.A. E.S.P. Gas and Energy Colombia Administrative, operational, technical and commercial management for the provision of electrical energy. Construction and Operation 01/2010 2010 34 % 2035 Gases del Pacífico S.A.C. Gas and Energy Perú Purchase, sale, production, commercialization of energy in any of its forms. Construction and Operation 10/2013 2015 37 % 2034 Sociedad Portuaria El Cayao S.A. E.S.P. Gas and Energy Perú Construction, maintenance and administration of ports. Operation and maintenance 07/2015 2015 100 % 2035 Infrastructure Proyectos de Infraestructura S.A. Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation and maintenance 12/1993 1994 100 % 2033 Concesionaria Vial de los Andes S.A.S. - Coviandes Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation and maintenance 08/1994 1996 100 % 2019 to 2023 Concesiones CCFC S.A.S. Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation and maintenance 06/1995 2001 100 % 2024 Concesionaria Panamericana S.A.S. Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation and maintenance 12/1997 2009 100 % 2035 Concesionaria Vial del Pacífico S.A.S. Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Construction 09/2014 2018 14.03 % 2040 Concesionaria Nueva Vía del Mar S.A.S. Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Preconstruction 01/2015 N/A 2.61 % 2044 Concesionaria Vial Andina S.A.S. Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Construction 06/2015 2016 38.37 % 2050 Concesionaria Vial Del Oriente S.A.S. Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Construction 07/2015 2018 12.83 % 2038

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of detailed information about goodwill [Abstract]
Disclosure of reconciliation of changes in goodwill [text block]	The following is the roll-forward of the goodwill balance during the years ended December 31, 2018 and 2017: December 31, 2018 December 31, 2017 Balance at the beginning of the year Ps. 6,901,056 Ps. 6,824,935 Additions / Purchases (1) — 102,376 Foreign exchange adjustment (2) 417,538 (26,255) Balance at the end of the year Ps. 7,318,594 Ps. 6,901,056 (1) In 2017 Corficolombiana acquired an additional 40 % of the Concesionaria Vial del Pacífico – Covipacífico S.A.S., located in Colombia. The business acquisition generated Goodwill of Ps. 102,376 (this acquisition is considered non-significant). (2) The foreign exchange adjustment is attributable to Leasing Bogotá Panamá.
Disclosure of information for cash-generating units [text block]	The following is the detail of goodwill assigned by cash generating units (CGU) representing the lowest identifiable level within Grupo Aval and monitored by management. In addition the values of goodwill are not greater than the identified business’ segments: Goodwill carrying amount December 31, December 31, CGU 2018 2017 Leasing Bogotá Panamá (2) Ps. 5,105,901 Ps. 4,688,363 Banco de Bogotá S.A. over Megabanco (1) 465,905 465,905 Promigas S.A. and Subsidiaries 169,687 169,687 Concesionaria Panamericana S.A.S. 119,915 119,915 Concesionaria Covipacífico S.A.S. 102,376 102,376 Hoteles Estelar S.A. 6,661 6,661 Banco de Occidente S.A. over Banco Unión (1) 22,724 22,724 Banco Popular S.A. 358,401 358,401 Banco de Bogotá S.A. 301,222 301,222 Banco de Occidente S.A. 127,571 127,571 Sociedad Administradora de Pensiones y Cesantías Porvenir S.A. 538,231 538,231 Ps. 7,318,594 Ps. 6,901,056 (1) Goodwill recognized as a result of mergers into these entities. (2) The foreign exchange adjustment is attributable to Leasing Bogotá Panamá.
Disclosure of detailed information about averages of primary premises used in reports on impairment of cash Generating units with allocated goodwill [Text Block]	The following table shows the averages of the main assumptions used in the reports on impairment of the cash-generating units with allocated goodwill, based on the impairment assessments done on the indicated dates. Although the valuation exercise includes a 10 years projection, the following tables only show the first 5 years as, following the first year of projection, rates are generally stable with no significant variations. December 31, 2018 2019 2020 2021 2022 2023 Lending rate on the loan portfolio and investments 11.4 % 11.4 % 11.4 % 11.3 % 11.3 % Borrowing rate 2.9 % 3.0 % 3.0 % 3.0 % 3.0 % Growth in income from commissions 2.0 % 7.7 % 8.0 % 7.8 % 7.7 % Growth in expenses 5.3 % 6.2 % 5.8 % 6.0 % 6.3 % Discount rate after taxes 11.8 % Growth rate after ten years 3.0 % December 31, 2017 2018 2019 2020 2021 2022 Lending rate on the loan portfolio and investments 11.0 % 11.0 % 11.0 % 11.0 % 11.1 % Borrowing rate 2.7 % 2.8 % 2.9 % 3.0 % 3.0 % Growth in income from commissions 6.5 % 8.3 % 8.2 % 8.2 % 8.3 % Growth in expenses 6.1 % 6.2 % 6.7 % 6.7 % 6.8 % Discount rate after taxes 11.3 % Growth rate after ten years 3.0 %
Disclosure of detailed information about allocation of goodwill to cash generating units [Text Block]	That goodwill was allocated to the groups of cash-generating units inside Banco de Bogotá involved in the following lines of business: Share (%) Value Commercial 32.7 % Ps. 152,539 Consumer 30.8 % 143,287 Payroll installment loans 27.0 % 125,934 Vehicles 6.7 % 31,304 Microcredit 2.8 % 12,841 Total 100.0 % Ps. 465,905
Disclosure of detailed information about main premises used in latest impairment tests of cash Generating units with allocated goodwill [Text Block]	The following table shows the main assumptions used in the latest impairment tests of the groups of cash-generating units with allocated goodwill. December 31, 2018 2019 2020 2021 2022 2023 Lending rate on the loan portfolio and investments 9.4 % 10.0 % 10.1 % 10.3 % 10.5 % Borrowing rate 3.5 % 3.8 % 3.9 % 4.2 % 4.3 % Growth in income from commissions 9.9 % 7.5 % 8.0 % 7.9 % 8.3 % Growth in expenses 3.7 % 3.9 % 3.1 % 3.5 % 3.6 % Inflation 2.9 % 3.1 % 2.7 % 3.5 % 3.3 % Discount rate after taxes 14.0 % Growth rate after five years 3.1 % December 31, 2017 2018 2019 2020 2021 2022 Lending rate on the loan portfolio and investments 9.6 % 9.4 % 9.3 % 9.5 % 9.6 % Borrowing rate 3.6 % 3.3 % 3.2 % 3.6 % 3.8 % Growth in income from commissions 9.2 % 7.7 % 7.8 % 8.5 % 8.5 % Growth in expenses 2.5 % 4.0 % 4.0 % 5.1 % 4.4 % Inflation 3.3 % 3.4 % 3.2 % 3.3 % 3.6 % Discount rate after taxes 14.0 % Growth rate after five years 3.5 %
Disclosure of detailed information about main premises used in impairment test reports taken as basis for impairment testing [Text Block]	The following are the main assumptions used in the impairment test reports taken as the basis for impairment testing on the dates listed, although the valuation exercise includes a 20 years projection, the following tables only show the first 5 years as reates, following the first year of projection, are generally stable with no significant variations. December 31, 2018 2019 2020 2021 2022 2023 Interest rate on investments 4.6 % 5.7 % 5.7 % 6.5 % 6.3 % Borrowing rate 6.3 % 6.3 % 6.3 % 6.3 % 6.3 % Growth in income from commissions 1.0 % 9.4 % 7.5 % 7.8 % 6.8 % Growth in expenses 4.3 % 4.6 % 5.6 % 6.6 % 0.5 % Inflation 2.9 % 3.1 % 2.7 % 3.5 % 3.3 % Discount interest rate after taxes 13.0 % Growth rate after twenty years 3.1 % December 31, 2017 2018 2019 2020 2021 2022 Interest rate on investments 5.8 % 5.9 % 5.7 % 5.8 % 6.2 % Borrowing rate 6.3 % 6.3 % 6.3 % 6.3 % 6.3 % Growth in income from commissions 14.2 % 8.0 % 7.7 % 7.6 % 7.5 % Growth in expenses 11.2 % 6.7 % 6.1 % 6.1 % 6.4 % Inflation 3.3 % 3.4 % 3.2 % 3.3 % 3.6 % Discount interest rate after taxes 13.0 % Growth rate after twenty years 3.5 %

OTHER INTANGIBLE ASSETS (Tables

OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2018
OTHER INTANGIBLE ASSETS
Disclosure of detailed information about other intangible assets	Below is the detail of the balances of other intangible assets as of December 31, 2018 and 2017: December 31, 2018 Accumulated Net book Description Cost amortization value Software and information technology applications purchased Ps. Ps. Ps. Internally generated Non-internally generated Licenses Ps. Ps. Ps. Internally generated Non-internally generated Other intangibles assets Ps. Ps. Ps. Total Ps. Ps. Ps. December 31, 2017 Accumulated Net book Description Cost amortization value Software and information technology applications purchased Ps. 845,402 Ps. (292,959) Ps. 552,443 Internally generated 681,167 (236,972) 444,195 Non-internally generated 164,235 (55,987) 108,248 Licenses Ps. 391,726 Ps. (137,998) Ps. 253,728 Internally generated 86,249 (19,130) 67,119 Non-internally generated 305,477 (118,868) 186,609 Other intangibles assets Ps. 52,125 Ps. (9,615) Ps. 42,510 Total Ps. Ps. (440,572) Ps. 848,681

INCOME TAX (Tables)

INCOME TAX (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of income tax [Abstract]
Major Components Of Income Tax Expenses [Text Block]	December 31, December 31, December 31, 2018 2017 2016 Current period income tax Ps. 1,746,881 Ps. 1,276,458 Ps. 1,264,066 Income tax surcharge 95,630 151,980 — CREE tax — — 295,324 CREE surcharge — — 193,425 Subtotal current period taxes 1,842,511 1,428,438 1,752,815 Prior years adjustments (1) (74,230) (117,568) (13,440) Adjustment due to settlement of uncertain tax positions from prior years 24,277 (7,367) (31,067) Deferred taxes 357,032 449,291 348,601 Total Ps. 2,149,590 Ps. 1,752,794 Ps. 2,056,909 (1) In the year 2018 tax recovery includes Ps. 50,316 in Banco de Occidente. It was generated by the use of presumptive excesses of CREE for the years 2013 and 2014; it also includes Ps. 17,812 in Corficolombiana for the reimbursement of income tax mainly from Episol and PISA Concessionaire. In the year 2017, it includes a Ps. 109,632 tax recovery at Banco de Bogotá for the years 2014, 2015 and 2016.
Reconciliation Between Effective Income Tax Explanatory [Text Block]	Years ended on: December 31, December 31, December 31, 2018 2017 2016 Profit before income tax Ps. 7,334,141 Ps. 4,915,227 Ps. 5,573,845 Enacted tax rate in Colombia 37 % 40 % 40 % Theoretical income tax expense 2,713,632 1,966,091 2,229,538 Nondeductible expenses 373,918 387,933 339,803 Tax losses considered non recoverable for income tax purpose 100,249 96,266 140,904 Presumptive income considered non recoverable for income tax purpose 33,296 7,991 45,385 Wealth tax — 40,762 107,051 Nontaxable dividends (23,457) (19,587) (15,655) Nontaxable income under equity method in associates (39,901) (68,026) (56,306) Profit (loss) on sales or appraisal of investment (2,148) (16,584) (71,669) Nontaxable interest income and other income (212,992) (137,312) (150,714) Other nontaxable income (167,091) (155,010) (83,742) Revenues taxable at different tax rate 15,378 (658) (14,983) Difference from expenses deductibles at different tax rate (11,060) (11,822) (4,679) Tax benefits in the acquisition of property and equipment (22,715) (20,585) (66,245) Profits (losses) in Subsidiaries in tax free countries or with different tax rate (168,117) (200,661) (143,109) Effect on the deferred income tax due to changes in tax rates (1) (308,534) (38,574) (96,232) Expenses considered non recoverable for deferred income tax purposes — — 1,465 Prior year adjustments (74,230) (117,568) (13,440) Adjustments due to uncertain tax positions in previous year 24,277 (7,367) (31,067) Other (80,915) 47,505 (59,396) Total tax expense of the year Ps. 2,149,590 Ps. 1,752,794 Ps. 2,056,909 Effective income tax rate 29.31 % 35.66 % 36.90 % (1) The effect is due to the application of the new tax rates established in Law 1943 of 2018, with which the deferred tax rates decreased from 33% to 30%. The impact on Corficolombiana was Ps. 233,865, in Banco de Bogotá it was Ps. 59,054, in Banco de Occidente Ps. 8,408, in Banco Av Villas Ps. 6,934 and in Banco Popular of Ps.362.
Tax Loss Carry Forward In Excess of Minimum Presumptive Income Explanatory [Text Block]	December 31, December 31, 2018 2017 Tax loss carry forwards expiring on: December 31, 2019 Ps. — Ps. 4,732 December 31, 2020 — 1,758 December 31, 2022 66 — December 31, 2025 1,216 — December 31, 2029 173,118 3,107 December 31, 2030 271,685 160,084 Without expiration date 458,499 484,376 Subtotal 904,584 654,057 Excess of presumptive income expiring on: December 31, 2018 — 43,668 December 31, 2019 61,152 64,590 December 31, 2020 45,738 48,170 December 31, 2021 61,296 64,998 December 31, 2022 51,077 46,727 December 31, 2023 48,218 — Subtotal 267,481 268,153 Total Ps. 1,172,065 Ps. 922,210
Disclosure of temporary difference, unused tax losses and unused tax credits [text block]	Year ended on December 31, 2018 Balance as of Change in Credited Credited Balance as of December 31, accounting (charged) to (charged) to Netting December 31, 2017 policies profit or loss OCI Reclassifications 2018 Deferred tax assets Debt securities at fair value Ps. 8,081 Ps. (2,431) Ps. 18,840 Ps. 4,563 Ps. 597 Ps. 29,650 Equity securities at fair value 8 102 512 — — 622 Derivative instruments 36,805 — (102,681) 185,803 (46,773) 73,154 Allowance of investments securities 366 31 (264) — 3 136 Allowance for accounts receivable 333 — 44,660 — (3,603) 41,390 Loans and receivables 71,938 64,527 (121,072) — (476) 14,917 Allowance for impairment on loans and receivables 66,127 68,513 13,808 — 10,721 159,169 Allowance for other accounts receivable 4,649 — (4,649) — — — Foreclosed assets 18,161 — (15,474) — 240 2,927 Property, plant and equipment costs 364,540 — (77,625) — (2,804) 284,111 Depreciation of property, plant and equipment 11,993 — 8,854 — 56 20,903 Deferred charges and of intangible assets 145,625 — 23,233 — (2) 168,856 Tax losses carry forward 332,354 — 365,698 (402,042) 3,191 299,201 Surplus of presumptive income 2,528 — 2,142 — — 4,670 Provisions 197,963 (11,038) 2,163 — 794 189,882 Employee benefits 98,924 — 41,406 (9,394) 847 131,783 Deferred income — 12,349 (9,762) — — 2,587 Financial assets in concession contracts 28,536 (6,322) 136,431 — — 158,645 Biological assets 169 — (65) — — 104 Lease agreements 8,042 — 625 — (75) 8,592 Other 123,645 (102) (6,161) 165,680 (11,112) 271,950 Subtotal Ps. 1,520,787 Ps. 125,629 Ps. 320,619 Ps. (55,390) Ps. (48,396) Ps. 1,863,249 Deferred tax liabilities Debt securities at fair value (44,492) 9,555 (14,843) 26 (183) (49,937) Equity securities at fair value (121,226) (298) 7,361 2,084 (3,798) (115,877) Derivative instruments (87,525) — 23,187 — 46,773 (17,565) Accounts receivable (306,774) (17) 17,677 1,588 — (287,526) Allowance of investments securities (182) 57 (23,025) — — (23,150) Loans and receivables (322,746) 3,668 256,357 — (846) (63,567) Allowance for impairment on loans and receivables (397,838) 204,100 (77,442) — 233 (270,947) Foreclosed assets (72,209) — (20,314) — 107 (92,416) Provision for foreclosed assets (41,654) — (67,096) — (342) (109,092) Property plant and equipment costs (363,814) — 11,305 — (4,875) (357,384) Depreciation of property, plant and equipment (179,877) — 9,908 — (169) (170,138) Deferred charges and of intangible assets (107,721) — (514,157) — — (621,878) Provisions (575) — (22,312) 304 (1,697) (24,280) Goodwill (169,675) — (23,355) — — (193,030) Deferred Income (40,534) 40,534 (116,034) — — (116,034) Financial assets in concession arrangements (700,738) (228,241) 30,238 — — (898,741) Biological assets (16,583) — (6,750) — — (23,333) Lease agreements (32,636) — 28,343 — — (4,293) Other (71,408) (779) (176,699) (11,271) 16,492 (243,665) Subtotal Ps. (3,078,207) Ps. 28,579 Ps. (677,651) Ps. (7,269) Ps. 51,695 Ps. (3,682,853) Net Ps. (1,557,420) Ps. 154,208 Ps. (357,032) Ps. (62,659) Ps. 3,299 Ps. (1,819,604) Year ended on December 31, 2017 Balance as of Credited Credited Balance as of December 31, (charged) to (charged) to Netting December 31, 2016 profit or loss OCI Reclassifications 2017 Deferred tax assets Debt securities at fair value Ps. 62,627 Ps. (30,580) Ps. (23,966) Ps. — Ps. 8,081 Equity securities at fair value 1,583 (1,254) (321) — 8 Derivative instruments 78,740 (41,935) — — 36,805 Accounts receivable 16,278 (15,589) — 10 699 Loans and receivables 6,014 65,924 — — 71,938 Allowance for impairment on loans and receivables 105,573 (39,446) — — 66,127 Allowance for other accounts receivable 6,219 (1,570) — — 4,649 Financial assets in concession contracts 25,837 2,571 — 128 28,536 Foreclosed assets 4,846 13,315 — — 18,161 Property, plant and equipment costs 296,269 68,271 — — 364,540 Depreciation of property, plant and equipment 5,699 6,294 — — 11,993 Biological assets 101 68 — — 169 Deferred charges and of intangible assets 113,817 30,922 — 886 145,625 Tax losses carry forward 385,855 (53,556) — 55 332,354 Surplus of presumptive income 19,480 (16,952) — — 2,528 Provisions 212,695 (17,649) — 2,917 197,963 Employee benefits 104,606 (29,658) 23,976 — 98,924 Deferred income 113,380 (113,380) — — — Lease agreements 9,160 (1,118) — — 8,042 Other 69,022 52,233 935 1,455 123,645 Subtotal Ps. 1,637,801 Ps. (123,089) Ps. 624 Ps. 5,451 Ps. 1,520,787 Deferred tax liabilities Debt securities at fair value Ps. (27,278) Ps. 29,105 Ps. (46,319) Ps. — Ps. (44,492) Equity securities at fair value (100,484) 302 33 (21,077) (121,226) Unrealized profits of foreign subsidiaries (22,029) — — 22,029 — Derivative instruments (67,974) (15,190) (4,361) — (87,525) Accounts receivable (260,621) (46,335) — 182 (306,774) Allowance of investments securities — — — (182) (182) Loans and receivables (268,747) (53,999) — — (322,746) Allowance for impairment on loans and receivables (275,785) (122,053) — — (397,838) Foreclosed assets (46,783) (25,426) — — (72,209) Provision for foreclosed assets (37,798) (3,856) — — (41,654) Property plant and equipment costs (400,180) 36,404 — (38) (363,814) Depreciation of property, plant and equipment (209,549) 30,948 — (1,276) (179,877) Deferred charges and of intangible assets (60,598) (47,123) — — (107,721) Provisions (471) (62) 116 (158) (575) Goodwill (86,036) (83,639) — — (169,675) Deferred Income (34,613) (5,921) — — (40,534) Financial assets in concession arrangements (718,496) 20,548 — (2,790) (700,738) Biological assets (6,806) (9,777) — — (16,583) Lease agreements — — — (32,636) (32,636) Other (65,400) (30,128) (11,053) 35,173 (71,408) Subtotal Ps. (2,689,648) Ps. (326,202) Ps. (61,584) Ps. (773) Ps. (3,078,207) Net Ps. (1,051,847) Ps. (449,291) Ps. (60,960) Ps. 4,678 Ps. (1,557,420) Year ended on December 31, 2016 Balance as of Credited Credited Balance as of December 31, (charged) to (charged) to Netting December 31, 2015 profit or loss OCI Reclassifications 2016 Deferred tax assets Debt securities at fair value Ps. 290,465 Ps. (5,459) Ps. (212,090) Ps. (10,289) Ps. 62,627 Equity securities at fair value 323 (26,416) 27,676 — 1,583 Derivative instruments 518,992 (223,831) (165,894) (50,527) 78,740 Accounts receivable 7,852 8,426 — — 16,278 Loans and receivables 5,652 362 — — 6,014 Allowance for impairment on loans and receivables 96,054 9,679 — (160) 105,573 Allowance for other accounts receivable 18,119 (11,900) — — 6,219 Financial assets in concession contracts 12,096 13,741 — — 25,837 Foreclosed assets 13,326 (8,480) — — 4,846 Property, plant and equipment costs 58,505 237,739 — 25 296,269 Depreciation of property, plant and equipment 5,415 284 — — 5,699 Biological assets 369 (268) — — 101 Deferred charges and of intangible assets 77,055 37,167 — (405) 113,817 Tax losses carry forward 527,153 (140,623) — (675) 385,855 Surplus of presumptive income 166,116 (146,636) — — 19,480 Provisions 146,578 60,716 5,706 (305) 212,695 Employee benefits 101,224 (5,718) 8,677 423 104,606 Goodwill 6,947 (6,947) — — — Deferred income 35,857 77,523 — — 113,380 Lease agreements 8,414 746 — — 9,160 Other 174,966 (107,102) — 1,158 69,022 Subtotal Ps. 2,271,478 Ps. (236,997) Ps. (335,925) Ps. (60,755) Ps. 1,637,801 Deferred tax liabilities Debt securities at fair value Ps. (19,943) Ps. 44,338 Ps. (51,673) Ps. — Ps. (27,278) Equity securities at fair value (104,317) (9,072) 13,059 (154) (100,484) Derivative instruments (333,317) 240,468 (21,586) 46,461 (67,974) Accounts receivable — (260,621) — — (260,621) Loans and receivables (238,492) (30,255) — — (268,747) Allowance for impairment on loans and receivables (227,336) (48,449) — — (275,785) Foreclosed assets (83,774) 36,991 — — (46,783) Provision for foreclosed assets (15,198) (22,600) — — (37,798) Property plant and equipment costs (355,478) (44,865) — 163 (400,180) Depreciation of property, plant and equipment (227,591) 18,114 — (72) (209,549) Deferred charges and of intangible assets (60,003) (595) — — (60,598) Unrealized profits of foreign subsidiaries (38,209) 16,180 — — (22,029) Provisions (1,961) 1,490 — — (471) Goodwill (42,822) (43,214) — — (86,036) Deferred Income (26,940) (7,673) — — (34,613) Financial assets in concession arrangements (627,666) (90,830) — — (718,496) Biological assets (17,578) 3,320 — 7,452 (6,806) Other (152,824) 85,669 — 1,755 (65,400) Subtotal Ps. (2,573,449) Ps. (111,604) Ps. (60,200) Ps. 55,605 Ps. (2,689,648) Net Ps. (301,971) Ps. (348,601) Ps. (396,125) Ps. (5,150) Ps. (1,051,847)
Disclosure of deferred taxes [text block]	Gross Deferred tax Balances on Statement December 31, 2018 amounts Offset of financial position Deferred tax asset Ps. 1,863,249 Ps. (1,521,911) Ps. 341,338 Deferred tax liability (3,682,853) 1,521,911 (2,160,942) Net Ps. (1,819,604) Ps. — Ps. (1,819,604) Gross Deferred tax Balances on Statement December 31, 2017 amounts Offset of financial position Deferred tax asset Ps. 1,520,787 Ps. (1,381,364) Ps. 139,423 Deferred tax liability (3,078,207) 1,381,364 (1,696,843) Net Ps. (1,557,420) Ps. — Ps. (1,557,420)
Disclosure of detailed information about the effects of the current and deferred income taxes in each component of Other Comprehensive Income [Text Block]	December 31, 2018 Current Deferred tax tax Amount (expense) (expense) before taxes income income Net Hedging of net investments in foreign subsidiaries operations Ps. 1,124,732 Ps. — Ps. — Ps. 1,124,732 Hedging derivatives in foreign currency (547,310) 372,715 (227,807) (402,402) Hedging financial liabilities in foreign currency (576,881) — 176,378 (400,503) Cash Flow hedging (19,789) — 6,697 (13,092) Foreign currency translation differences for foreign operations (299,804) — (16,006) (315,810) Debt financial instruments (107,084) — 11,554 (95,530) Investment in associates and join ventures 22,400 — (393) 22,007 Equity financial instruments (134,084) — (5,891) (139,975) Actuarial gains (losses) from defined benefit pension plans 18,013 — (7,191) 10,822 Total “other comprehensive income” during the period Ps. (519,807) Ps. 372,715 Ps. (62,659) Ps. (209,751) December 31, 2017 Current Deferred tax tax Amount (expense) (expense) before taxes Income income Net Hedging of net investments in foreign subsidiaries operations Ps. (47,197) Ps. — Ps. — Ps. (47,197) Hedging derivatives in foreign currency 16,832 — (5,554) 11,278 Hedging financial liabilities in foreign currency 30,568 — (11,065) 19,503 Cash Flow hedging (2,340) — 969 (1,371) Foreign currency translation differences for foreign operations (91,497) (12,657) 956 (103,198) Debt financial instruments 284,480 — (69,743) 214,737 Investment in associates and joint ventures 1,128 — 116 1,244 Equity financial instruments 57,245 — (720) 56,525 Actuarial gains (losses) from defined benefit pension plans (100,232) — 24,081 (76,151) Total “other comprehensive income” during the period Ps. 148,987 Ps. (12,657) Ps. (60,960) Ps. 75,370 December 31, 2016 Current Deferred tax tax Amount (expense) (expense) before taxes Income income Net Hedging of net investments in foreign subsidiaries operations Ps. (475,000) Ps. — Ps. — Ps. (475,000) Hedging derivatives in foreign currency 291,506 47,419 (187,480) 151,445 Hedging financial liabilities in foreign currency 35,819 (23,854) — 11,965 Cash Flow hedging 17,967 — — 17,967 Foreign currency translation differences for foreign operations (125,161) 8,204 — (116,957) Debt financial instruments 948,212 — (263,763) 684,449 Investment in associates and joint ventures (20,061) — — (20,061) Equity financial instruments 34,509 — 40,735 75,244 Actuarial gains (losses) from defined benefit pension plans (41,228) — 14,383 (26,845) Total “other comprehensive income” during the period Ps. 666,563 Ps. 31,769 Ps. (396,125) Ps. 302,207
Disclosure of detailed information about uncertainties in open tax positions [Text Block]	December 31, 2018 December 31, 2017 Bogotá Ps. 113,345 Ps. 86,592 Occidente 6,095 7,657 Popular — 443 Corficolombiana 2,392 — Total Ps. 121,832 Ps. 94,692
Disclosure of detailed information about the roll forward of tax uncertainties [Text Block]	December 31, December 31, December 31, 2018 2017 2016 Balance at the beginning of the year Ps. 94,692 Ps. 104,156 Ps. 145,968 Provisions increase during the year 11,904 18,039 31,039 Provisions used (1,088) (873) (1,867) Amounts reversed due to provisions not used (2,960) (32,010) (73,084) Financial cost 16,421 7,477 12,098 Foreign exchange adjustments 2,863 (2,097) (9,998) Balance at the end of the year Ps. 121,832 Ps. 94,692 Ps. 104,156
Disclosure of detailed information about the expiry of tax uncertainties [Text Block]	December 31, December 31, Year 2018 2017 2018 — 3,484 2019 3,006 3,109 2020 27,968 21,579 2021 30,478 23,902 2022 27,276 23,034 2023 31,373 18,250 2024 1,579 1,334 2025 152 — Total Ps. 121,832 Ps. 94,692

CUSTOMER DEPOSITS (Tables)

CUSTOMER DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Customer Deposits [Abstract]
Disclosure of detailed information about deposits [Text Block]	The following is a detail of the balances of the deposits received from Grupo Aval´s customer: Detail December 31, 2018 December 31, 2017 Demand Checking accounts Ps. 39,702,878 Ps. 36,017,602 Savings accounts 57,221,439 55,778,677 Other funds on demand 582,122 472,782 97,506,439 92,269,061 Term deposits (1) Fixed term deposit certificates (1) 66,853,012 62,616,163 Total Deposits 164,359,451 154,885,224 Per currency In Colombian Pesos 99,388,366 96,797,225 In foreign currency 64,965,716 58,083,025 Other 5,369 4,974 Total per currency Ps. 164,359,451 Ps. 154,885,224
Disclosure of detailed information about the effective interest rates which are accrued on customer deposits [Text Block]	A summary of the effective interest rates which are accrued on customer deposits is as follows: December 31, 2018 Deposits in Colombian Pesos In foreign currency Rate Rate Minimum Maximum Minimum Maximum % % % % Interest-bearing checking accounts 0.04 % 4.76 % 0.25 % 5.50 % Saving accounts 0.01 % 6.00 % 0.05 % 8.00 % Fixed term deposit certificates 0.05 % 9.05 % 0.05 % 11.45 % December 31, 2017 Deposits in Colombian Pesos In foreign currency Rate Rate Minimum Maximum Minimum Maximum % % % % Interest-bearing checking accounts 0.06 % 5.77 % 0.15 % 1.50 % Saving accounts 0.01 % 8.55 % 0.05 % 8.00 % Fixed term deposit certificates 0.05 % 9.72 % 0.01 % 10.43 %
Disclosure of detailed information about concentration of deposits by economic sector [Text Block]	The following is the detail of the concentration of deposits received from customers per economic sector: December 31, 2018 December 31, 2017 Amount % Amount % Commerce Ps. 27,454,858 17 % Ps. 29,587,825 19 % Financial 25,001,924 15 % 25,302,624 16 % Individuals 26,626,082 16 % 23,362,871 15 % Government and Colombian Government Entities 20,817,529 13 % 17,443,318 11 % Manufacturing 8,634,657 5 % 9,016,500 6 % Real Estate 6,235,260 4 % 6,197,620 4 % Agriculture and livestock 2,200,313 1 % 2,401,684 2 % Colombian Municipalities 1,807,946 1 % 2,290,683 1 % Foreign Governments 652,670 1 % 799,687 1 % Other (1) 44,928,212 27 % 38,482,412 25 % Total Ps. 164,359,451 100 % Ps. 154,885,224 100 % (1) December 31, 2018, includes deposits from, education sector of Ps. 525,978, services sector of Ps. 6,328,182, tourism sector Ps. 9,084 and others in the sector Ps. 38,064,968.

FINANCIAL OBLIGATIONS (Tables)

FINANCIAL OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Deposits From Financial Obligations [Abstract]
Disclosure of Detailed Information about Financial Obligations [Text Block]	The following is a summary of the financial obligations of Grupo Aval as of December 31, 2018 and 2017: December December 31, 2018 31, 2017 Local Currency Interbank funds Overnight funds Ps. 4,152 Ps. 1,464 Interbank funds purchased 173,274 336,431 Commitments to transfer open and closed repo operations 1,884,750 715,364 Commitments to transfer simultaneous operations 2,306,037 2,272,496 Commitments originated in short positions simultaneous operations 362,833 176,048 Total interbank funds Ps. 4,731,046 Ps. 3,501,803 Borrowings 1,964,408 2,831,100 Letters of credit 300 485 Bankers´ acceptances 217 17 Total borrowings from banks and others Ps. 1,964,925 Ps. 2,831,602 Foreign currency Interbank funds Overnight funds — 217 Interbank funds purchased 1,568,172 1,135,110 Commitments to transfer open and closed repo operations 514,860 333,300 Total interbank funds Ps. 2,083,032 Ps. 1,468,627 Borrowings 17,190,315 14,529,524 Andean Development Corporation 384,758 — Letters of credit 356,640 195,988 Bankers´ acceptances 664,429 648,206 Discoveries in bank current account 49,699 — Total borrowings from banks and others Ps. 18,645,841 Ps. 15,373,718 Total interbank borrowings, overnight funds and borrowings from banks and others Ps. 27,424,844 Ps. 23,175,750
Disclosure of Detailed Information About Other Borrowings Explanatory [Text Block]	The details of the borrowings from these entities as of December 31, 2018, and 2017 and are as follows: Interest rates in force at cut off December 31, 2018 December 31, 2017 Banco de Comercio Exterior - “BANCOLDEX” Fixed between 1.8% and 21.15% DTF + 0.08% to 9.91% IBR + 0.50% to 9.76% LIBOR3 + 1.8% to 9.91% LIBOR6 + 2.87% to 6.09% Ps. 1,303,648 Ps. 835,667 Fondo para el Financiamiento del Sector Agropecuario - “FINAGRO” Fixed between 0.50% and 15.48% DTF + 0.50% to 6.42% 278,025 342,728 Financiera de Desarrollo Territorial “FINDETER” Fixed between 2.40% and 13.38% DTF + 1.00% to 7.57% IBR+ 2.50% to 7.57% IPC + 0.50% and 7.57% LIBOR3 5.20% to 5.30% and LIBOR6 + 5.29% 2,065,123 1,819,695 Total Ps. 3,646,796 Ps. 2,998,090
Disclosure of Detailed Information About Maturities of Financial Obligations with Development Entities [Text Block]	Interest rates in force at cut off December 31, 2018 December 31, 2017 Banco de Comercio Exterior - “BANCOLDEX” Fixed between 1.8% and 21.15% DTF + 0.08% to 9.91% IBR + 0.50% to 9.76% LIBOR3 + 1.8% to 9.91% LIBOR6 + 2.87% to 6.09% Ps. 1,303,648 Ps. 835,667 Fondo para el Financiamiento del Sector Agropecuario - “FINAGRO” Fixed between 0.50% and 15.48% DTF + 0.50% to 6.42% 278,025 342,728 Financiera de Desarrollo Territorial “FINDETER” Fixed between 2.40% and 13.38% DTF + 1.00% to 7.57% IBR+ 2.50% to 7.57% IPC + 0.50% and 7.57% LIBOR3 5.20% to 5.30% and LIBOR6 + 5.29% 2,065,123 1,819,695 Total Ps. 3,646,796 Ps. 2,998,090 The amount of borrowings from development entities due over 12 months as of December 31, 2018 is Ps. 3,203,170 and December 31, 2017 is Ps.2,790,581.
Disclosure of detailed information about bond issued [Text Block]	December December Issuer Issue Date 31, 2018 31, 2017 Maturity Date Interest Rate Banco de Bogotá S.A. 23/02/2010 Ps. 134,736 Ps. 132,989 23/02/2020 CPI + 5.45 and UVR + 5.45 Banco de Occidente Between 30/03/2009 and 14/12/2017 3,143,903 3,271,929 Between 09/02/2019 and 14/12/2032 Fixed between 6.18% to 7.85% and IPC + 2.90 to 5.75 Corporación Financiera Colombiana S.A. Between 27/08/2009 and 02/03/2018 2,853,685 2,361,702 Between 11/03/2019 and 02/03/2043 Fixed 7.1% and CPI + 3.18 to 6.90 Banco Popular Between 26/02/2013 and 08/05/2018 1,616,729 1,571,308 Between 14/02/2019 and 12/10//2026 Fixed between 6.17% to 8.10%, CPI + 2.72 to 4.13; DTF + 1.49 Grupo Aval Acciones y Valores Between 03/12/2009 and 28/06/2017 1,108,713 1,109,240 Between 03/12/2019 and 28/06/2042 CPI + 2.69 to 5.20 Peso denominated Total Ps. 8,857,766 Ps. 8,447,168 Foreign Currency Banco de Bogotá S.A. Under rule 44A. Between 19/02/2013 and 03/08 /2017 7,042,678 6,459,452 Between 19/02/2023 and 03/08/2027 Fixed between 4.38% to 6.25% BAC Credomatic El Salvador Between 11/02/2013 and 26/11/2018 753,556 635,536 Between 30/05/2019 and 26/11/2023 Between 5.20% to 5.85% Guatemala Between 24/08/2017 and 24/08/2018 14,025 400,244 Between 07/01/2019 and 26/08/2019 Between 4.25% to 7.50% Honduras Between 12/05/2017 and 19/12/2018 205,017 159,674 Between 12/05/2020 and 11/01/2022 Between 0.75% to 8.88% BAC Credomatic Total Ps. 972,598 Ps. 1,195,454 Banco Bogotá and BAC Credomatic Total Ps. 8,015,276 Ps. 7,654,906 Grupo Aval Limited 19/09/2012 3,267,308 3,000,122 26/09/2022 4.75% Foreign Currency Total Ps. 11,282,584 Ps. 10,655,028 Total of Bonds Ps. 20,140,350 Ps. 19,102,196

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of defined benefit plans [abstract]
Disclosure of Defined Benefits Plans Explanatory [Text Block]	December 31, 2018 December 31, 2017 Short term (1) Ps. 481,320 Ps. Post-employment 541,226 Long term 242,335 Total Ps. 1,264,881 Ps. 1,238,172
Disclosure of net defined benefit liability (asset) [text block]	Post-Employment Benefits Long-Term Benefits December December December December December December 31, 2018 31, 2017 31, 2016 31, 2018 31, 2017 31, 2016 Balance at the beginning of the year Ps. 604,110 Ps. 509,022 Ps. 436,696 Ps. 229,770 Ps. 191,112 Ps. 206,971 Service costs 13,127 4,425 3,006 21,040 18,201 19,243 Interests cost 36,700 50,826 69,348 13,460 12,889 (20,274) Gain on settlements (18,300) 253 — — (112) — Past Service Costs (191) 200 — 1,632 (3,961) — 635,446 564,726 509,050 265,902 218,129 205,940 Changes in actuarial assumptions from changes in demographic assumptions. 6,136 (8,863) (1,232) 388 (1,432) (6,456) Changes in actuarial assumptions from changes in financial assumptions. (24,149) 109,095 42,460 11,831 43,870 18,845 (18,013) 100,232 41,228 12,219 42,438 12,389 Exchange differences 3,502 (982) 6,081 — — — Payments to employees (79,709) (59,866) (47,337) (35,786) (30,797) (27,217) Balance at the end of the year Ps. 541,226 Ps. 604,110 Ps. 509,022 Ps. 242,335 Ps. 229,770 Ps. 191,112
Disclosure of Detail Information of Variables Used to Calculate Obligation [Text Block]	December 31, December 31, Post-Employment Benefits 2018 2017 Discount interest rate 7.29 % 6.59 % Inflation rate 3.00 % 3.50 % Salary growth rate 3.00 % 3.50 % Pension growth rate 3.00 % 3.50 % Employee turnover rate (between service year 1 and 40 for men and women the following is the turnover rate) Tabla de Rotación Tabla de Rotación SoA 2003 (1) SoA 2003 (1) December 31, December 31, Long-Term Benefits 2018 2017 Discount interest rate 6.75 % 6.33 % Inflation rate 3.00 % 3.50 % Salary growth rate 3.00 % 3.50 % Pension growth rate N/A N/A Employee turnover rate (between service year 1 and 40 for men and women the following is the turnover rate) Tabla de Rotación Tabla de Rotación SoA 2003 (1) SoA 2003 (1) (1) For those entities where a sufficiently large statistic is not yet available to support the actuarial bases, the SoA2003 table is used as a reference. With this table, the probability of permanence of personnel in the entity is established, modified according to the population factor of each benefit.
Disclosure of sensitivity analysis for actuarial assumptions [text block]	-0.50 basic points At December 31, 2018 Post-Employment Benefits Long-Term Benefits Discount interest rate Ps. 559,740 Ps. 247,726 Salaries growth rate 125,140 234,266 Retirement growth rate 392,518 N/A +0.50 basic points At December 31, 2018 Post-Employment Benefits Long-Term Benefits Discount interest rate Ps. 521,812 Ps. 235,544 Salaries growth rate 136,794 249,020 Retirement growth rate 427,272 N/A
Disclosure of information about maturity profile of defined benefit obligation [text block]	Payments for Post- Payments for Long- Year Employment term Benefits Ps. 65,720 Ps. 39,104 56,847 37,042 57,615 32,194 56,990 33,102 54,812 31,944 Years 2024 – 2028 255,125 159,380

LEGAL AND OTHER PROVISIONS (Tab

LEGAL AND OTHER PROVISIONS (Tables)	12 Months Ended
	Dec. 31, 2018
LEGAL AND OTHER PROVISIONS
Disclosure of legal and other provisions	For Legal Other Provisions Total Provisions Balance as of December 31, 2015 Ps. 148,314 Ps. 451,913 Ps. Provisions increase during the year 32,405 363,211 395,616 Use of provisions (13,143) (319,592) (332,735) Amounts reversed due to provisions not utilized (12,938) (30,249) (43,187) Reclassifications 1,111 (676) 435 Balance as of December 31, 2016 Ps. 155,749 Ps. 464,607 Ps. 620,356 Provisions increase during the year 32,670 222,349 255,019 Use of provisions (15,012) (117,643) (132,655) Amounts reversed due to provisions not utilized (7,870) (42,459) (50,329) Exchange differences (184) 408 224 Balance as of December 31, 2017 Ps. 165,353 Ps. 527,262 Ps. 692,615 Impact of the adoption of IFRS 9 (1) — 16,217 16,217 Balance as of January 01, 2018 Ps. 165,353 Ps. 543,479 Ps. 708,832 Provisions increase during the year 98,473 190,686 289,159 Use of provisions (73,086) (149,026) (222,112) Amounts reversed due to provisions not utilized (64,562) (19,852) (84,414) Exchange differences (249) 4,072 3,823 Balance as of December 31, 2018 Ps. 125,929 Ps. 569,359 Ps. 695,288 (1) Grupo Aval has initially adopted IFRS 15 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Notes 2.5.

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2018
OTHER LIABILITIES
Disclosure of accounts payable and other liabilities	Items December 31, 2018 December 31, 2017 Suppliers and services payable Ps. Ps. Collection on behalf of third parties (3) Cashier checks Contract liability related to concessions (1) (4) — Dividends payable Non-financial liabilities Income received for third parties Commissions and fees Withholdings taxes and labor contributions Affiliate establishments Collection service Cash Surplus Customer loyalty programs (1) (2) Tax levies Checks drawn and not paid Insurance payables Financial transactions tax Anticipated income Contributions and affiliations Canceled accounts Promissory buyers Leases Compensation to customers Deferred credits Other liabilities Total Ps. Ps. (1) Grupo Aval has initially adopted IFRS 15 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5) (A). (2) T he amount of unredeemed customer loyalty points. This will be recognized as revenue when the points are redeemed by customers or expires, which is expected to occur over the next two years. (3) Collection withholdings of tax pending to transfer to tax authority. (4) Contract liability related principal to the purchase of land for the construction of concessions.

EQUITY ATTRIBUTABLE TO OWNERS_2

EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of controlling interest equity [Abstract]
Disclosure of classes of share capital [text block]	Authorized, issued and outstanding shares as of December 31, 2018 and 2017 consisted of the following: December 31, 2018 December 31, 2017 Authorized shares 120,000,000,000 120,000,000,000 Subscribed fully paid shares 22,281,017,159 22,281,017,159 Total outstanding shares 22,281,017,159 22,281,017,159 The outstanding shares are as follows: Common voting shares (1) 15,164,816,696 15,173,180,765 Preferred non-voting shares (2) 7,116,200,463 7,107,836,394 (1) Common Voting shares with a nominal value of Ps. 1. (2) Since 2011, Grupo Aval allows its shareholders to convert their common shares into preferred shares. For the years ended December 31, 2018 and 2017, de 8,364,069 and 81,696,058 common shares were converted into preferred shares, respectively. Preferred shares have the right to receive a preferential minimum dividend of one Colombian peso (Ps. 1) per semester per share. This preferential minimum dividend is only applicable when dividends declared for common shares are less than one Colombian peso (Ps. 1). Preferential minimum dividends are not cumulative.
Disclosure of reserves within equity [text block]	As of December 31, 2018, and 2017 the appropriation of retained earnings is as follows: December 31, 2018 December 31, 2017 Retained earnings Ps. 2,321,729 Ps. 1,829,515 Legal reserve 11,140 11,140 Statutory and voluntary reserves 6,265,450 5,333,763 Ps. 8,598,319 Ps. 7,174,418
Disclosure of dividends [text block]	December 31, 2017 December 31, 2016 June 30, 2016 Net income for the periods ended in 2,001,178 1,053,594 1,258,835 Cash dividends declared Ps In the general assembly held in March 2018, 48.00 pesos per share payable in twelve installments of 4.00 pesos per share, from April 2018 to March 2019. Ps In the general assembly held in March 2017, 58.80 pesos per share payable in twelve installments of 4.90 pesos per share, from April 2017 to March 2018. Ps 29.40 per share payable in six (6) installments of P.s. 4.90 per share between October 2016 and March 2017 (based on profits from the first half of 2016) Common shares outstanding 15,170,666,914 15,240,124,702 Preferred shares outstanding 7,110,350,245 7,040,892,457 Total outstanding shares 22,281,017,159 22,281,017,159 Total dividends declared 1,069,489 1,310,124 655,062
Disclosure of earnings per share [text block]	The following table summarizes the net income per share for the year ended as of December 31, 2018, 2017 and 2016: December 31, December 31, December 31, 2018 2017 2016 Net income for the year Ps. 5,184,551 Ps. 3,162,433 Ps. 3,516,936 Less: participation of non- controlling interests (2,271,857) (1,200,019) (1,377,070) Net income attributable to owners of the parent 2,912,694 1,962,414 2,139,866 Less: preferred dividends declared — — — Less: Allocation of undistributed earnings to preferred stockholders (1)(2) (929,656) (622,215) (674,042) Net Income allocated to common shareholders for basic and diluted EPS Ps. 1,983,038 Ps. 1,340,199 Ps. 1,465,824 Weighted average number of common shares outstanding used in basic EPS calculation (2) 15,169,502,784 15,216,468,601 15,262,660,115 Basic and Diluted earnings per share to common shareholders (pesos) 130.725 88.076 96.040 Basic and Diluted earnings per ADS in pesos (3) 2,614.51 1,761.51 1,920.80 Weighted average of the common and preferred shares used in the calculation of net income for basic shares (common and preferential) 22,281,017,159 22,281,017,159 22,281,017,159 Basic net income of the owners of the parent per share 130.725 88.076 96.040 (1) Based on a weighted average of preferred shares. (2) Averages based on an end of month number of preferred or common shares. (3) Each ADS represents 20 preferred shares.
Disclosure of detailed information about components of accumulated other comprehensive income [Table Text Block]	Components of Accumulated Other Comprehensive Income for the years ended December 31, 2018, 2017 and 2016 are as follows: Foreign currency Foreign currency Unrealized Unrealized translation translation gains gains Total differences from Hedging Hedging non- differences from (losses) (losses) Investments in Actuarial comprehensive hedged foreign derivative derivative Cash flow unhedged foreign Debt Equity associates and gains Income income, net of operations instruments instruments hedges operations securities securities join ventures (losses) tax taxes Beginning balance 2015 Ps. 3,733,469 Ps. (2,554,257) Ps. (1,239,064) Ps. (10,181) Ps. 50,250 Ps. (1,220,428) Ps. 455,375 Ps. 111,570 Ps. 9,003 Ps. 1,641,196 Ps. 976,933 Current-period change (475,000) 291,506 35,819 17,967 (125,161) 948,212 34,509 (20,061) (41,228) (364,356) 302,207 Ending balance 2016 Ps. 3,258,469 Ps. (2,262,751) Ps. (1,203,245) Ps. 7,786 Ps. (74,911) Ps. (272,216) Ps. 489,884 Ps. 91,509 Ps. (32,225) Ps. 1,276,840 Ps. 1,279,140 Current-period change (47,197) 16,832 30,568 (2,340) (91,497) 284,480 57,245 1,128 (100,232) (73,617) 75,370 Ending balance 2017 Ps. 3,211,272 Ps. (2,245,919) Ps. (1,172,677) Ps. 5,446 Ps. (166,408) Ps. 12,264 Ps. 547,129 Ps. 92,637 Ps. (132,457) Ps. 1,203,223 Ps. 1,354,510 Change in politics — — — — — 56,198 71,229 (3,691) — (19,723) 104,013 Current-period change 1,124,732 (547,310) (576,881) (19,789) (299,804) (107,084) (134,084) 22,400 18,013 310,056 (209,751) Ending balance 2018 Ps. 4,336,004 Ps. (2,793,229) Ps. (1,749,558) Ps. (14,343) Ps. (466,212) Ps. (38,622) Ps. 484,274 Ps. 111,346 Ps. (114,444) Ps. 1,493,556 Ps. 1,248,772 Total comprehensive income, Non -controlling interest Owners of the parent net of taxes Beginning balance 2015 Ps. 438,804 Ps. 538,129 Ps. 976,933 Current-period change 90,719 211,488 302,207 Ending balance 2016 Ps. 529,523 Ps. 749,617 Ps. 1,279,140 Current-period change 38,121 37,249 75,370 Ending balance 2017 Ps. 567,644 Ps. 786,866 Ps. 1,354,510 Change in politics 58,180 45,833 104,013 Current-period change (73,825) (135,926) (209,751) Ending balance 2018 Ps. 551,999 Ps. 696,773 Ps. 1,248,772

NON- CONTROLLING INTEREST (Tabl

NON- CONTROLLING INTEREST (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of non-controlling interest [Abstract]
Disclosure of detailed information about financial information of non-controlling interest [Text Block]	The following table includes financial information regarding each subsidiary of Grupo Aval that has significant non-controlling interests at December 31, 2018 and 2017: December 31, 2018 Non-controlling Non-controlling Dividends paid to non- Non-controlling Interest share of interest share of controlling interest in Entity Country Interest equity net income the year Corporación Financiera Colombiana S.A. (1) Colombia 61.75 % Ps. 5,071,562 Ps. 1,222,634 Ps. (308,254) Banco Bogotá S.A. Colombia 31.26 % 5,851,536 858,253 (332,297) Banco de Occidente S.A. Colombia 27.73 % 305,790 110,321 (75,838) Banco Comercial AV Villas S.A. Colombia 20.13 % 324,151 43,896 (15,425) Banco Popular S.A. Colombia 6.26 % 211,600 36,753 (14,118) Total Ps. 11,764,639 Ps. 2,271,857 Ps. (745,932) (1) See note 1 Corporación Financiera Colombiana S.A. (dilution effect). Equity attributable to Equity non controlling Effect of dilution over Corficolombiana owners of the parent interest Change % Decrease - 6.54% Increase – 6.54% Effect equity Additional paid - in capital 181,579 (181,579) Value issuance of shares (see note 1) Ps. 988,072 December 31, 2017 Non-controlling Non-controlling Dividends paid to non- Non-controlling Interest share of interest share of controlling interest in Entity Country Interest equity net income the year Corporación Financiera Colombiana S.A. Colombia 55.21 % Ps. 3,448,932 Ps. 462,137 Ps. (340,402) Banco Bogotá S.A. Colombia 31.26 % 5,395,664 619,515 (322,985) Banco de Occidente S.A. Colombia 27.73 % 256,858 65,941 (84,339) Banco Comercial AV Villas S.A. Colombia 20.13 % 298,651 27,263 (14,353) Banco Popular S.A. Colombia 6.26 % 184,126 25,163 (6,690) Total Ps. 9,584,231 Ps. 1,200,019 Ps. (768,769)
Disclosure of detailed information about subsidiary that has significant non controlling interests [Text Block]	The following table includes information regarding each subsidiary of Grupo Aval that has significant non- controlling interests to December 31, 2018 and 2017 (before eliminations): December 31, 2018 Cash Flow from Entity Assets Liabilities Total Income Net Income OCI operating activities Corporación Financiera Colombiana S.A. Ps. 26,240,636 Ps. 18,121,948 Ps. 9,159,971 Ps. 2,068,518 Ps. 505,807 Ps. 4,597,371 Banco Bogotá S.A. 163,302,510 143,634,735 17,725,706 3,131,213 853,134 2,868,435 Banco de Occidente S.A. 38,921,610 34,415,453 4,040,260 416,294 29,097 339,411 Banco Comercial AV Villas S.A. 14,207,481 12,587,301 1,724,332 216,468 38,065 858,440 Banco Popular S.A. Ps. 24,648,668 Ps. 21,757,734 Ps. 2,666,731 Ps. 354,961 Ps. (7,631) Ps. 1,106,042 December 31, 2017 Cash Flow from Entity Assets Liabilities Total Income (1) Net Income (1) OCI operating activities Corporación Financiera Colombiana S.A. Ps. 21,114,998 Ps. 15,872,265 Ps. 6,891,345 Ps. 563,553 Ps. 615,754 Ps. 3,428,076 Banco Bogotá S.A. 149,389,135 131,197,065 16,635,250 2,132,951 880,565 1,571,203 Banco de Occidente S.A. 37,746,874 33,342,596 4,338,753 377,687 187,037 797,598 Banco Comercial AV Villas S.A. 12,318,124 10,853,638 1,645,948 137,695 788 (1,295,251) Banco Popular S.A. Ps. 22,322,103 Ps. 19,651,056 Ps. 2,564,532 Ps. 205,694 Ps. 153,208 Ps. 756,955

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Commitments and Contingencies [Abstract]
Disclosure of Detailed Information About Commitments In Unused Lines of Credit [Text Block]	Loan commitments and financial guarantee contracts December 31, 2018 December 31, 2017 Notional amount Notional amount Guarantees Ps. 3,446,601 Ps. 3,495,921 Unused letters of credit 1,186,691 1,177,697 Unused limits of overdrafts 306,740 75,225 Unused credit card limits 20,816,061 18,025,620 Other 5,169,588 4,448,775 Total Ps. 30,925,681 Ps. 27,223,238
Disclosure of Detailed Information About Credit Commitments by Currency [Text Block]	December 31, 2018 December 31, 2017 Colombian Pesos Ps. 14,918,915 Ps. 10,271,676 U.S. dollars 12,885,921 16,589,399 Euro 2,892,670 85,887 Other 228,175 276,276 Total Ps. 30,925,681 Ps. 27,223,238
Disclosure of finance lease and operating lease by lessee [text block]	December 31, December 31, 2018 (*) 2017 Up to one year Ps. 234,510 Ps. 246,373 Greater than one year and up to five years 778,015 526,557 More than five years 624,025 233,239 Total Ps. 1,636,550 Ps. 1,006,169 (*) During the year 2018 Banco de Bogotá leased 14 properties; Banco Popular and Alpopular leased 1 property each.

INCOME FROM CONTRACTS WITH CU_2

INCOME FROM CONTRACTS WITH CUSTOMERS (Tables)	12 Months Ended
	Dec. 31, 2018
Income From Contract With Customers [Abstract]
Disclosure of detailed information about commissions and fees of contracts [Text block]	Below is a detail of the income and expenses for commissions and fees of contracts with customers for the years ended as of December 31, 2018, 2017 and 2016: December 31, December 31, December 31, Income from commissions and fees 2018 2017 2016 Commissions on banking services Ps. 2,718,482 Ps. 2,567,704 Ps. 2,436,692 Fees on credit cards 1,187,716 1,112,319 1,034,763 Pension and severance fund management 987,323 926,771 824,089 Trust activities 312,901 311,837 275,719 Storage services 156,638 169,815 186,068 Commissions on drafts, checks and checkbooks 49,645 60,768 67,832 Office network services 30,220 42,639 43,508 Other commissions 10,457 10,272 10,516 Total Ps. 5,453,382 Ps. 5,202,125 Ps. 4,879,187 December 31, December 31, December 31, Commissions and Fees Expenses 2018 2017 2016 Banking Services Ps. (307,191) Ps. (332,811) Ps. (318,672) Sales and Services Commissions (171,680) (119,987) (99,659) Affiliations to Pension Funds (75,130) (74,531) (68,454) Offices Network Services (23,040) (29,874) (33,404) Information Processing Services of Operators (22,525) (23,039) (20,963) Collection Service of Contributions to Financial Entities (7,110) (5,618) (6,084) Banks Guarantees (128) (88) (87) Fiduciary Businesses (46) (41) (256) Credit Cards (12) (2) (14) Other (6,901) (37,123) (71,935) Total Ps. (613,763) Ps. (623,114) Ps. (619,528) Net commission and fee income Ps. 4,839,619 Ps. 4,579,011 Ps. 4,259,659
Schedule of incomes and cost for goods and services	Below is the detail of the income and cost for goods and services for the years ended as of December 31, 2018, 2017 and 2016: December 31, December 31, December 31, Income from sales of goods and services (2) 2018 2017 (1) 2016 Income from goods and services from non-financial sector Ps. 7,943,420 Ps. 5,656,472 Ps. 6,534,933 Others operating income 182,594 136,378 119,690 Total income Ps. 8,126,014 Ps. 5,792,850 Ps. 6,654,623 December 31, December 31, December 31, Cost for goods and services 2018 2017 (1) 2016 Cost of sales of companies from non-financial sector Ps. (3,812,993) Ps. (3,408,808) Ps. (4,283,588) Allowance for impairment of loans and receivables (21,829) (22,239) (2,007) General and administrative expenses (645,690) (668,616) (635,930) Personnel expenses (499,750) (481,892) (434,145) Amortization (317,035) (300,325) (223,929) Depreciation (100,388) (79,981) (83,991) Bonus payments (34,503) (34,436) (27,555) Commissions and fees expenses (32,876) (24,361) (19,384) Donations expenses (14,320) (12,604) (12,081) Labor severances (2,718) (2,565) (2,718) Total costs for goods and services Ps. (5,482,102) Ps. (5,035,827) Ps. (5,725,328) Net, income from non-financial sector Ps. 2,643,912 Ps. 757,023 Ps. 929,295 (1) See note 2.32. Changes in presentation (2) Grupo Aval has initially adopted IFRS 15 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5) (A).

NET TRADING INCOME (Tables)

NET TRADING INCOME (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Net Trading Income [Abstract]
Disclosure of detailed information about net trading income [Text Block]	December 31, December 31, December 31, 2018 2017 (1) 2016 (1) Trading investment income (2) Fixed income securities Ps. 98,024 Ps. 218,994 Ps. 369,184 Equities 57,477 177,448 127,431 Total trading investment income Ps. 155,501 Ps. 396,442 Ps. 496,615 Derivatives income Net income (loss) on financial derivatives (3) Ps. 247,880 Ps. (75,224) Ps. 10,593 Other trading income (4) 179,328 240,144 217,490 Total derivatives income Ps. 427,208 Ps. 164,920 Ps. 228,083 Total net trading income Ps. 582,709 Ps. 561,362 Ps. 724,698 (1) Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018. According to the transition methods chosen, comparative information is not restated. See Note 2 (2.5) (B). (2) Includes net trading income from investment securities held for trading, that reflects the interest from investment in debt securities, gains/losses from mark-to-market valuation from investment in equity and debt securities and net income from trading activities. (3) Includes net trading income from derivatives, which reflects the gains/losses from mark-to-market valuation on trading derivatives. (4) Includes gains/losses from: (i) Net changes in the valuation of hedging derivatives from mark-to-market valuations from unhedged, (ii) the ineffective portion of the hedge, (iii) Transfers of due hedging derivatives from OCI to the statement of income.

OTHER INCOME AND EXPENSE (Table

OTHER INCOME AND EXPENSE (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Other income and expense [Abstract]
Disclosure of general and administrative expense [text block]	Below is a detail of the other income and expense in the years ended December 31, 2018, 2017 and 2016: December 31, December 31, December 31, Other Income 2018 2017 2016 Foreign exchange gains (losses), net Ps. 283,440 Ps. 424,483 Ps. 517,902 Share of profit of equity accounted investees, net of tax 197,715 171,964 140,765 Dividends 71,487 50,439 28,027 Gain on the sale of non-current assets held for sale 20,062 13,568 28,392 Net gain on sale of debt and equity securities 1,104 51,712 210,373 Gain on sale of assets (1) 390,472 10,581 21,148 Other income 394,401 428,998 729,499 Total other income Ps. 1,358,681 Ps. 1,151,745 Ps. 1,676,106 (1) For the year 2018, it includes the recognition of the sale profit with subsequent leasing of assets by Banco de Bogotá in Ps. 312,316 and Ps. 60,474 by Banco Popular. December 31, December 31, December 31, Other Expense 2018 2017 2016 Personnel expenses Ps. (3,877,584) Ps. (3,671,117) Ps. (3,531,087) Taxes and fees (757,936) (731,316) (633,260) Depreciation and amortization (539,751) (521,408) (471,608) Consultancy, audit and other fees (569,276) (460,978) (355,590) Affiliation contributions and transfers (511,811) (429,825) (428,581) Wealth tax (1) — (101,988) (267,627) Leases (Rent) (476,590) (431,507) (440,777) Maintenance and repairs (378,433) (392,271) (317,170) Insurance (375,611) (351,745) (316,852) Marketing (327,539) (314,657) (344,423) Warehouse services (270,223) (277,849) (288,491) Transportation services (181,687) (166,429) (160,002) Impairment losses other assets (166,300) (174,255) (47,537) Outsourcing services (128,495) (128,656) (184,330) Cleaning and security services (126,822) (131,451) (138,693) Supplies and stationary (85,128) (82,113) (23,722) Data processing (81,426) (73,872) (81,682) Adaptation and installation (55,815) (62,809) (67,938) Travel expenses (52,584) (48,193) (54,275) Other (408,022) (450,652) (413,664) Total other expense Ps. (9,371,033) Ps. (9,003,091) Ps. (8,567,309) (1) Grupo Aval and its subsidiaries in Colombia were subject to wealth tax for the years 2015, 2016 and 2017 by Law 1739 of 2014, based on their fiscal net asset value as of January 1, 2015, 2016 and 2017, greater or equal to Ps. 1,000, less the exclusions expressly provided for in the tax regulation, including the net asset value of the shares held in national companies. The wealth tax was calculated at progressive rates depending on the amount of liquid equity, and rates range between 0.20% and 1.15% in 2015, 0.15% and 1% in 2016, and 0.05% and 0.40% in 2017.

ANALYSIS OF OPERATING SEGMENTS

ANALYSIS OF OPERATING SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of operating segments [abstract]
Disclosure of entity's operating segments [text block]	The following is the detail of the reportable financial information summarized for each segment as of December 31, 2018, 2017 and 2016: Statement of Financial Position December 31, 2018 Banco de Banco de Banco Banco AV Corficolombiana Other Bogotá S.A. Occidente S.A. Popular S.A. Villas S.A. S.A. segments (1) Eliminations Total Assets Trading assets Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. Investment securities — Hedging derivatives assets — — — — Investments in associates and joint ventures — Loans and receivables — Other Assets Total Assets Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. Liabilities Customer Deposits — Financial Obligations Other Liabilities Total Liabilities Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. (1) Includes Grupo Aval Holding, Grupo Aval Limited, Grupo Aval International Limited and ATH Negocio Conjunto. Statement of Income for the year 2018 Banco de Banco de Banco Popular Banco AV Corficolombiana Other Bogotá S.A. Occidente S.A. S.A. Villas S.A. S.A. segments (1) Eliminations Total External Income Interest income Ps. Ps. Ps. Ps. Ps. Ps. Ps. — Ps. Commission and fee income — Income From Sales of Goods and Services — — — Participation in profit or loss associates and joint business — — Dividends — — Other Income — Ps. Ps. Ps. Ps. Ps. Ps. Ps. — Ps. Intersegment Income Interest income Ps. Ps. Ps. Ps. Ps. Ps. 144 Ps. (105,575) Ps. — Commission and fee income 80,403 (123,877) — Income From Sales of Goods and Services — — — (116,274) — Participation in profit or loss associates and joint business — (797,473) — Dividends — (27,488) — Other Income 53,808 (273,515) — 134,355 (1,444,202) — Total income Ps. Ps. Ps. Ps. Ps. Ps. 210,427 Ps. (1,444,202) Ps. Expenses Interest expense Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. Impairment loss on loan and other accounts receivable — — Depreciations and amortizations — Commission and fee expense Costs and expenses of sales goods and services — Administrative Expenses Other expense Income tax expense Total Expenses Net income for the year Ps. Ps. Ps. Ps. Ps. Ps. (9,616) Ps. (993,287) Ps. (1) Includes Grupo Aval Holding, Grupo Aval Limited, Grupo Aval International Limited and ATH Negocio Conjunto. Statement of income for 2018 Banco de Banco de Banco Banco AV Corficolombiana Other Bogotá S.A. Occidente S.A. Popular S.A. Villas S.A. S.A. segments (1) Eliminations Total External Income Revenue from contracts with customers (2) Ps. 4,530,757 Ps. 582,571 Ps. 262,703 Ps. 281,761 Ps. 7,770,108 Ps. 437,292 Ps. (285,796) Ps. 13,579,396 Timing of revenue recognition At a point in time 3,374,159 456,047 190,613 122,614 7,602,668 595 91,964 11,838,660 Over time 1,156,598 126,524 72,090 159,147 167,440 436,697 (377,760) 1,740,736 (1) Includes Grupo Aval Holding, Grupo Aval Limited, Grupo Aval International Limited and ATH Negocio Conjunto. (2) Income from contracts with customers, see note 28. Statement of Financial Position Statement of Financial Position December 31, 2017 (2) Banco de Banco de Banco Banco AV Corficolombiana Other Bogotá S.A. Occidente S.A. Popular S.A. Villas S.A. S.A. segments (1) Eliminations Total Assets Trading assets Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. Investment securities — Hedging derivatives assets — — — — Investments in associates and joint ventures — Loans and receivables — Other Assets Total Assets Ps. Ps. Ps. Ps. Ps. Ps. Ps. (10,091,445) Ps. Liabilities Customer Deposits — Financial Obligations Other Liabilities Total Liabilities Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. (1) Includes Grupo Aval Holding, Grupo Aval Limited, Grupo Aval International Limited and ATH Negocio Conjunto. (2) See note 2.32. Changes in presentation. Statement of Income for the year 2017 (2) Banco de Banco de Banco Popular Banco AV Corficolombiana Other Bogotá S.A. Occidente S.A. S.A. Villas S.A. S.A. segments (1) Eliminations Total External Income Interest income Ps. Ps. Ps. Ps. Ps. Ps. Ps. — Ps. Commission and fee income — Income From Sales of Goods and Services — — — Participation in profit or loss associates and joint business — — Dividends — — Other Income — Ps. Ps. Ps. Ps. Ps. Ps. Ps. — Ps. Intersegment Income Interest income Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. — Commission and fee income — Income From Sales of Goods and Services — — — Participation in profit or loss associates and joint business — — Dividends — — Other Income — — Total income Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. Expenses Interest expense Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. Impairment loss on loan and other accounts receivable — — Depreciations and amortizations — Commission and fee expense Costs and expenses of sales goods and services — Administrative Expenses Other expense Income tax expense Total Expenses Net income for the year Ps. Ps. Ps. Ps. Ps. Ps. Ps. Ps. (1) Includes Grupo Aval Holding, Grupo Aval Limited, Grupo Aval International Limited and ATH Negocio Conjunto. (2) See note 2.32. Changes in presentation. Statement of Income of the year 2016 (3) (1) Banco de Banco de Banco Banco AV Corficolombiana Other Bogotá S.A. Occidente S.A. Popular S.A. Villas S.A. S.A. segments (2) Eliminations (1) Total External Income Interest income Ps. 10,481,965 Ps. 3,363,556 Ps. 2,042,878 Ps. 1,193,544 Ps. 442,398 Ps. 22,629 Ps. — Ps. 17,546,970 Commission and fee income 3,957,774 387,986 219,717 237,762 63,763 12,185 — 4,879,187 Income from sales of goods and services 4,037 56,109 31,704 — 6,577,127 (14,354) — 6,654,623 Participation in profit or loss associates and joint business (4,275) (484) 388 729 144,407 — — 140,765 Dividends 1,779 1,150 3,112 2,941 18,973 72 — 28,027 Other Income 1,527,712 233,645 183,730 99,701 363,491 4,715 — 2,412,994 Ps. 15,968,992 Ps. 4,041,962 Ps. 2,481,529 Ps. 1,534,677 Ps. 7,610,159 Ps. 25,247 Ps. — Ps. 31,662,566 Intersegment Income Interest income Ps. 219,995 Ps. 2,893 Ps. 848 Ps. 6,223 Ps. 75,641 Ps. — Ps. (305,600) Ps. — Commission and fee income 900 4,386 2,282 13,170 2,115 — (22,853) — Income from sales of goods and services 89,030 72,075 — — (82,407) — (78,698) — Participation in profit or loss associates and joint business 116,488 118,109 (1,206) (1,923) 100 — (231,568) — Dividends — 20,336 25,293 — 944 — (46,573) — Other Income 1,907,706 (9,116) 115 1,610 2,915 — (1,903,230) — 2,334,119 208,683 27,332 19,080 (692) — (2,588,522) — Total income Ps. 18,303,111 Ps. 4,250,645 Ps. 2,508,861 Ps. 1,553,757 Ps. 7,609,467 Ps. 25,247 Ps. (2,588,522) Ps. 31,662,566 Expenses Interest expense Ps. 4,568,469 Ps. 1,455,389 Ps. 995,070 Ps. 451,224 Ps. 947,603 Ps. 312,113 Ps. (337,463) Ps. 8,392,405 Impairment loss on loan and other accounts receivable 1,897,902 579,471 229,948 236,434 59,176 1,253 — 3,004,184 Depreciations and amortizations 352,618 64,252 40,449 24,787 4,513 997 (16,008) 471,608 Commission and fee expense 347,612 99,804 83,857 98,738 8,970 219 (19,672) 619,528 Costs and expenses of sales goods and services 195,564 195,894 31,503 — 5,292,651 (5,779) 15,495 5,725,328 Administrative Expenses 2,943,832 632,153 501,664 324,787 138,626 57,536 (189,399) 4,409,199 Other expense 2,414,696 363,398 293,930 158,243 104,944 (331,792) 463,050 3,466,469 Income tax expense 1,150,393 232,292 151,365 79,994 381,647 3,111 58,107 2,056,909 Total Expenses 13,871,086 3,622,653 2,327,786 1,374,207 6,938,130 37,658 (25,890) 28,145,630 Net income for the year Ps. 4,432,025 Ps. 627,992 Ps. 181,075 Ps. 179,550 Ps. 671,337 Ps. (12,411) Ps. (2,562,632) Ps. 3,516,936 (1) Includes Ps. 2,208,053 of income resulting from the desconsolidation of Corficolombiana. (2) Includes Grupo Aval Holding, Grupo Aval Limited, Grupo Aval International Limited and ATH Negocio Conjunto. (3) See note 2.32. Changes in presentation.
Disclosure of detailed information about revenues for each individual country for which revenues are significant [Text Block]	Grupo Aval’s revenues for each individual country for which revenues are significant, are the following during the years ended December 31, 2018, 2017 and 2016: December 31, 2018 December 31, 2017 December 31, 2016 Colombia Ps. 25,611,992 Ps. 23,824,994 Ps. 24,273,358 Panamá 1,527,626 1,410,766 1,333,843 Costa Rica 3,065,997 2,752,109 2,598,446 Guatemala 1,273,570 1,132,646 1,084,436 Other countries 2,604,040 2,539,337 2,372,483 Total Consolidated Revenues Ps. 34,083,225 Ps. 31,659,852 Ps. 31,662,566
Disclosure of detailed information about non-current assets for each individual country for which revenues are significant [Text Block]	Own – use Property, plant December 31, 2018 and equipment, net (*) Intangible assets Colombia Ps. 4,450,061 Ps. 8,625,595 Panamá 213,090 3,979,443 Costa Rica 378,554 100,631 Guatemala 108,167 15,988 Other countries 513,871 1,145,302 Total Ps. 5,663,743 Ps. 13,866,959 (*) see notes 15 to 18. Own – use Property, plant December 31, 2017 and equipment, net (*) Intangible assets Colombia Ps. 4,635,899 Ps. 5,868,867 Panamá 203,824 3,657,236 Costa Rica 366,800 89,343 Guatemala 98,778 16,714 Other countries 494,696 1,231,744 Total Ps. 5,799,997 Ps. 10,863,904 (*) see notes 15 to 18.

UNCONSOLIDATED STRUCTURED ENT_2

UNCONSOLIDATED STRUCTURED ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of unconsolidated structured entities [abstract]
Disclosure of interests in unconsolidated structured entities [text block]	Grupo Aval’s managed December 31, 2018 Securitizations funds Total Grupo Aval’s interest-assets Investments at fair value through profit or loss Ps. 13,733 Ps. 2,181,725 Ps. 2,195,458 Other account receivables — 34,431 34,431 Total assets in relation to the Grupo Aval’s interests in the unconsolidated structured entities 13,733 2,216,156 2,229,889 Grupo Aval’s maximum exposure (*) Ps. 13,733 Ps. 2,216,156 Ps. 2,229,889 (*) Represent 1.35%, respectively of the Grupo Aval’s managed funds total assets. Grupo Aval’s managed December 31, 2017 Securitizations funds Total Grupo Aval’s interest-assets Investments at fair value through profit or loss Ps. 19,602 Ps. 3,030,499 Ps. 3,050,101 Other account receivables — 37,606 37,606 Total assets in relation to the Grupo Aval’s interests in the unconsolidated structured entities 19,602 3,068,105 3,087,707 Grupo Aval’s maximum exposure (*) Ps. 19,602 Ps. 3,068,105 Ps. 3,087,707 (*) Represent 1.92%, respectively of the Grupo Aval’s managed funds total assets.

TRANSFERS OF FINANCIAL ASSETS (

TRANSFERS OF FINANCIAL ASSETS (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of transfers of financial assets [Abstract]
Disclosure of continuing involvement in derecognised financial assets [text block]	The table below explain in detail the assets at December 31, 2017, 2016 and 2015 that represent the continuing involvement of Grupo Aval with the accounts receivable transferred and revenue obtained during the collecting process of such loans. December 31, December 31, December 31, At the end of the year 2018 2017 2016 Financial assets (1) Ps. 13,733 Ps. 19,602 Ps. 27,377 Income for commission and fees 79 136 96 (1) Includes investments held for trading through profit or loss and available-for-sale investments.

RELATED PARTIES (Tables)

RELATED PARTIES (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Related Parties [Abstract]
Disclosure of detailed information about balances with related parties [text block]	Balances as of December 31, 2018 and 2017, with related parties, are detailed in the following tables: Individuals Entities Entities Individuals with with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2018 Aval (*) personnel (*) ventures individuals individuals Assets Cash and equivalents Ps. — Ps. — Ps. — Ps. — Ps. — Financial assets in investments — — 920,170 — — Financial assets in credit operations 2,680 17,062 1,443,476 1,513,218 Accounts receivable 9 58 8,105 3,329 17 Other assets — — 20,348 5,030 — Liabilities Deposits Ps. 100,199 Ps. 21,726 Ps. 70,960 Ps. 570,558 Ps. 23,470 Accounts payable 38 686 10,114 291,328 1 Financial obligations 1 3 102 7 — Other liabilities — — 25,040 194 3 (*) Include family members Individuals Entities Entities Individuals with with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2017 Aval (*) personnel (*) ventures individuals individuals Assets Cash and equivalents Ps. — Ps. — Ps. 11 Ps. — Ps. 67 Financial assets in investments — — 910,310 1,249 — Financial assets in credit operations 3,066 10,665 1,492,067 1,301,697 3,385 Accounts receivable 11 33 59,588 4,421 — Other assets — — 156,636 3,661 18 Liabilities Deposits Ps. 21,257 Ps. 20,192 Ps. 2,535,339 Ps. 1,566,160 Ps. 1,275 Accounts payable 103 700 15,353 322,275 18,671 Financial obligations 4 10 16,435 1,249 — Other liabilities — 4 7,424 49 — (*) Include family members
Disclosure of transactions between related parties [text block]	Transactions during the years ended as of December 31, 2018, 2017 and 2016, with related parties are as follows: a. Profit or loss Individuals Entities Individuals with Entities with control Key Associates Entities significant over Grupo management and joint controlled by influence by December 31, 2018 Aval (*) personnel (*) ventures individuals individuals Income Interest income Ps. 216 907 101,539 131,368 4,789 Fee income and commissions 5 58 6,664 65,615 5 Leases — — 45 315 — Other income 4 243 241,797 4,252 — Expenses Financial expenses (216) (740) (735) (17,322) (22) Fee expenses and commissions (4) (1,549) (14,741) (1,796) (5) Operating expenses — (25,808) (53) (4,013) — Other expenses (16) (496) (30,250) (27,034) — (*) Include family members Individuals Entities Entities with Individuals with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2017 Aval (*) personnel (*) ventures individuals individuals Income Interest income Ps. 164 757 155,690 123,671 543 Fee income and commissions 5 48 26,249 57,180 — Leases — — 321 301 — Other income 4 59 236,871 6,391 — Expenses Financial expenses (243) (1,197) (129,335) (30,431) (6) Fee expenses and commissions (4) (1,510) (24,039) (3,276) (1) Operating expenses — (9,706) (3,572) (1,892) (113) Other expenses — (1,635) (32,691) (34,400) — (*) Include family members Individuals Entities Entities with Individuals with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2016 Aval (*) personnel (*) ventures individuals individuals Income Interest income Ps. 28 321 81,646 64,299 789 Fee income and commissions 4 28 12,717 33,659 — Leases — — 66 290 30 Other income 440 — 171,405 2,957 9,915 Expenses Financial expenses (84) (656) (88,800) (19,064) — Fee expenses and commissions (333) (931) (15,451) (2,674) (143) Operating expenses — (5,588) (75) (2,060) (1) Other expenses (11) (1,390) (193,762) (15,159) (811)
Disclosure of information about key management personnel [text block]	The compensation received by the key personnel of the management comprises the following: Year ended as of December 31, December 31, December 31, Items 2018 2017 2016 Salaries Ps. 18,123 Ps. 17,073 Ps. 15,731 Short term benefits for employees 3,244 3,167 10,664 Total Ps. 21,367 Ps. 20,240 Ps. 26,395

SUBSEQUENT EVENTS (Tables)

SUBSEQUENT EVENTS (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of non-adjusting events after reporting period [abstract]
Explanation of financial effect of non-adjusting event after reporting period [text block]	Net income for period ended December 31, 2018 included in the unconsolidated financial statements of Grupo Aval Occasional reserve release at the disposal of the General Meeting of Shareholders Total Income available for disposal of the General Meeting of Shareholders Cash Dividends Ps. 60 per share payable in twelve monthly installments of Ps. 5.00 per share, from April 2019 to March, 2020. Total shares outstanding Total dividends declared Ps. To Occasional reserve at the disposal of General Meeting of Shareholders

PARENT COMPANY INFORMATION (Tab

PARENT COMPANY INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2018
PARENT COMPANY INFORMATION
Disclosure of detailed information about Condensed separate Statement of Financial Position	Condensed separate Statement of Financial Position December 31, 2018 2017 Current Assets Cash and cash equivalents Ps. 38,667 Ps. 35,478 Trading securities 1,543 453 Accounts receivable from related parties 267,640 274,323 Other assets 517 513 Total current assets Ps. 308,367 Ps. 310,767 Non current Assets Investments in subsidiaries 19,932,376 18,589,623 Property plant and equipment 2,414 2,851 Deferred tax 476 — Total non current assets Ps. 19,935,266 Ps. 18,592,474 Total assets Ps. 20,243,633 Ps. 18,903,241 Current liabilities Borrowings at amortized cost 2,808 290,101 Outstanding bonds at amortized cost 284,758 5,725 Accounts payable 405,372 440,318 Other non-financial liabilities 1,214 1,233 Total current liabilities Ps. 694,152 Ps. 737,377 Long-term liabilities Borrowings at amortized cost 541,924 253,503 Outstanding bonds 824,520 1,104,080 Deferred tax liabilities — 33 Total non current liabilities Ps. 1,366,444 Ps. 1,357,616 Total liabilities Ps. 2,060,596 Ps. 2,094,993 Equity Shareholders’ equity 18,183,037 16,808,248 Total liabilities and shareholders’ equity Ps. 20,243,633 Ps. 18,903,241
Disclosure of detailed information about Condensed separate Statement of Income	December 31, December 31, December 31, Condensed separate Statement of Income 2018 2017 2016 Operating revenue Equity method income, net Other revenue from ordinary activities 285,218 234,502 77,387 Total operating revenue Ps. Ps. Ps. Expenses, net Administrative expenses 75,348 89,823 98,130 Other expenses 166 274 168 (Losses) gains from exchange differences (1,601) 98 (1,085) Operating income Ps. Ps. Ps. Financial expenses 118,892 133,171 125,585 Net income before taxes Ps. Ps. Ps. Income tax expense 66,662 51,568 5,620 Net income Ps. Ps. Ps.
Disclosure of detailed information about Condensed separate Cash flow	December 31, December 31, December 31, Condensed separate Cash flow 2018 2017 2016 Net income Ps. 2,915,984 Ps. 1,964,919 Ps. 2,177,613 Adjustments to reconcile net income to net cash used by operating activities (1,773,713) (867,042) (1,726,296) Net cash provided by operating activities 1,142,271 1,097,877 451,317 Net cash provided (used in) by investing activities (11,185) (8,830) (55,374) Net cash (used in) provided by financing activities (1,127,897) (1,100,849) (360,827) Increase (decrease) in cash and cash equivalents 3,189 (11,802) 35,116 Cash and cash equivalents at beginning of year 35,478 47,280 12,164 Cash and cash equivalents at end of year Ps. 38,667 Ps. 35,478 Ps. 47,280
Disclosure of subsidiaries	Investment in subsidiaries as of December 31, 2018 and 2017 comprise the following: December 31, 2018 December 31, 2017 Ownership Ownership interest held interest held by Grupo Book by Grupo Book Subsidiary Aval Value Aval Value Banco de Bogotá S.A. 68.74 % Ps. 11,905,815 68.74 % Ps. 11,000,669 Banco de Occidente S.A. 72.27 % 3,183,351 72.27 % 3,174,228 Banco Comercial AV Villas S.A. 79.87 % 1,290,056 79.87 % 1,190,740 Banco Popular S.A. 93.74 % 2,923,562 93.74 % 2,710,218 Corporación Financiera Colombiana S.A. 38.25 % 674,484 44.79 % 504,962 Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. 75.69 % 440,707 75.69 % 401,341 Grupo Aval Limited 100.00 % (347,082) 100.00 % (315,227) Grupo Aval International Limited 100.00 % (138,517) 100.00 % (77,308) Ps. Ps.
Disclosure of detailed information about Outstanding bonds	Bonds at December 31, 2018 and 2017 comprise the following: Amounts outstanding Issuance date Tranches Maturity Coupon rate 2018 2017 June, 2017 Ps. 100,000 June, 2020 IPC + 2.69 % Ps. 100,065 Ps. 100,074 June, 2017 300,000 June, 2042 IPC + 3.99 % 300,237 300,264 November, 2016 93,000 November, 2026 IPC + 3.86 % 93,690 93,758 November, 2016 207,000 November, 2036 IPC + 4.15 % 208,597 208,750 December, 2009 279,560 December, 2019 IPC + 4.84 % 281,341 281,528 December, 2009 124,520 December, 2024 IPC + 5.20 % 125,348 125,431 Total Bonds Ps. 1,104,080 Ps. 1,109,278 Ps. 1,109,805
Disclosure of detailed information about scheduled maturities of bonds	The scheduled maturities of bonds as of December 31, 2018 are as follows Period Amount 2019 284,758 2020 100,000 2021 and thereafter 724,520 Total Ps.

REPORTING ENTITY - Tabular disc

REPORTING ENTITY - Tabular disclosure (Details)	Sep. 05, 2018	Sep. 04, 2018	Dec. 31, 2018	Dec. 31, 2017
Banco de Bogota S.A.
Disclosure of subsidiaries [line items]
Country of incorporation of subsidiary			Colombia	Colombia
Percentage of voting rights held			68.74%
Percentage of economic interest held			68.74%
Almaviva S.A. and its subsidiary
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Logistics services.
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			95.81%
Percentage of economic interest held			65.85%
Fiduciaria Bogota S.A
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Management of trust funds.
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			94.99%
Percentage of economic interest held			65.29%
Porvenir S.A. and its subsidiary
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Management of pension and severance funds.
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			100.00%
Percentage of economic interest held			75.67%
Leasing Bogota Panama S.A.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Holding company of BAC Credomatic Inc.
Country of incorporation of subsidiary			Panamá, Republic of Panamá
Percentage of voting rights held			100.00%
Percentage of economic interest held			68.74%
Banco de Bogota Panama S.A.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Commercial banking services.
Country of incorporation of subsidiary			Panamá, Republic of Panamá
Percentage of voting rights held			100.00%
Percentage of economic interest held			68.74%
BAC Credomatic Inc.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Holding company in charge of managing the banking and related subsidiaries in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panamá, among others. (Subsidiary of Leasing Bogotá Panamá S.A.).
Country of incorporation of subsidiary			Panamá, Republic of Panamá
Percentage of voting rights held			100.00%
Percentage of economic interest held			68.74%
Banco de Occidente S.A.
Disclosure of subsidiaries [line items]
Country of incorporation of subsidiary			Colombia	Colombia
Percentage of voting rights held			72.27%
Percentage of economic interest held			72.27%
Banco de Occidente Panama. S.A.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Commercial banking services.
Country of incorporation of subsidiary			Panamá, Republic of Panamá
Percentage of voting rights held			95.00%
Percentage of economic interest held			68.66%
Fiduciaria de Occidente S.A.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Management of trust funds.
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			99.99%
Percentage of economic interest held			70.76%
Occidental Bank Barbados Ltd.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Commercial banking services.
Country of incorporation of subsidiary			Barbados
Percentage of voting rights held			100.00%
Percentage of economic interest held			72.27%
Banco Popular S.A.
Disclosure of subsidiaries [line items]
Country of incorporation of subsidiary			Colombia	Colombia
Percentage of voting rights held			93.74%
Percentage of economic interest held			93.74%
Alpopular S.A.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Conservation and custody of documents; transportation of products at national and international levels.
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			71.10%
Percentage of economic interest held			66.65%
Fiduciaria Popular S.A.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Management of trust funds.
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			94.85%
Percentage of economic interest held			88.91%
Banco Comercial AV Villas S.A.
Disclosure of subsidiaries [line items]
Country of incorporation of subsidiary			Colombia	Colombia
Percentage of voting rights held			80.37%
Percentage of economic interest held			79.87%
A Toda Hora S.A. ATH
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			ATM network services and maintenance and software development
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			100.00%
Percentage of economic interest held			78.90%
Corporacion Financiera Colombiana S.A.
Disclosure of subsidiaries [line items]
Country of incorporation of subsidiary			Colombia	Colombia
Percentage of voting rights held	52.96%	62.42%	52.96%
Percentage of economic interest held	38.25%	44.79%	38.25%
Casa de Bolsa S.A.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Brokerage firm
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			97.30%
Percentage of economic interest held			61.18%
Colombiana de Licitaciones y Concesiones S.A.S
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Infrastructure projects.
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			100.00%
Percentage of economic interest held			38.25%
Concesionaria Nueva Vía Al Mar S.A.S.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Infrastructure projects.
Country of incorporation of subsidiary			Cali, Colombia
Percentage of voting rights held			100.00%
Percentage of economic interest held			38.25%
Concesionaria Vial Del Pacifico S.A.S.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Infrastructure projects.
Country of incorporation of subsidiary			Sabaneta Antioquia
Percentage of voting rights held			89.90%
Percentage of economic interest held			34.38%
Estudios y Proyectos del Sol S.A.S.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Infrastructure projects.
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			100.00%
Percentage of economic interest held			38.25%
Estudios, Proyectos e Inversiones de los Andes S.A.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Infrastructure projects.
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			99.98%
Percentage of economic interest held			38.24%
Fiduciaria Corficolombiana S.A.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Management of trust funds.
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			100.00%
Percentage of economic interest held			38.25%
Hoteles Estelar S. A.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Construction and operation of hotels, directly or by third parties, in Colombia and abroad.
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			84.96%
Percentage of economic interest held			32.49%
Leasing Corficolombiana S.A.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Financial services
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			100.00%
Percentage of economic interest held			38.25%
Organizacion Pajonales S. A.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Investment and promotion of agricultural, livestock, forestry and agro industrial companies.
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			99.35%
Percentage of economic interest held			38.00%
Plantaciones Unipalma de los Llanos S.A
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Development, production and sale of African palm products.
Country of incorporation of subsidiary			Bogotá, Colombia
Percentage of voting rights held			54.53%
Percentage of economic interest held			20.86%
Promigas S.A. E.S.P.
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Transportation and distribution of natural gas.
Country of incorporation of subsidiary			Barranquilla, Colombia
Percentage of voting rights held			50.88%
Percentage of economic interest held			19.46%
Proyectos de Infraestructura S.A. - PISA
Disclosure of subsidiaries [line items]
Principal place of business of subsidiary			Infrastructure projects.
Country of incorporation of subsidiary			Cali, Colombia
Percentage of voting rights held			88.25%
Percentage of economic interest held			33.75%

REPORTING ENTITY - Textual (Det

REPORTING ENTITY - Textual (Details) - COP ($) $ in Millions	Sep. 05, 2018	Sep. 04, 2018	Dec. 31, 2018
Corporacion Financiera Colombiana S.A.
Disclosure of subsidiaries [line items]
Amount of shares issued	$ 988,072
Corporacion Financiera Colombiana S.A. | Common shares
Disclosure of subsidiaries [line items]
Number of shares issued	40,000,000
Corporacion Financiera Colombiana S.A. | Preference shares
Disclosure of subsidiaries [line items]
Issuance of preferred shares without voting rights	1,529,542
Banco de Bogota S.A.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary			68.74%
Proportion of ownership interest in subsidiary			68.74%
Banco de Occidente S.A.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary			72.27%
Proportion of ownership interest in subsidiary			72.27%
Banco Popular S.A.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary			93.74%
Proportion of ownership interest in subsidiary			93.74%
Banco Comercial AV Villas S.A.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary			80.37%
Proportion of ownership interest in subsidiary			79.87%
Corporacion Financiera Colombiana S.A.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	52.96%	62.42%	52.96%
Proportion of ownership interest in subsidiary	38.25%	44.79%	38.25%

BASIS OF PREPARATION OF THE C_4

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Textual (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of voluntary change in accounting policy [line items]
Closing foreign exchange rate	3,249.75	2,984	3,000.71
Minimum
Disclosure of voluntary change in accounting policy [line items]
Proportion of ownership interest in associate	20.00%
Rubber
Disclosure of voluntary change in accounting policy [line items]
Useful lives or depreciation rates, property, plant and equipment	35
African oil palm
Disclosure of voluntary change in accounting policy [line items]
Useful lives or depreciation rates, property, plant and equipment	25

BASIS OF PREPARATION OF THE C_5

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Changes in Accounting Policies (Details) $ in Millions	Dec. 31, 2017COP ($)
Disclosure of voluntary change in accounting policy [line items]
Impact of the adoption	$ (393,118)	[1]
IFRS 15
Disclosure of voluntary change in accounting policy [line items]
Impact of the adoption	391,281
IFRS 9
Disclosure of voluntary change in accounting policy [line items]
Impact of the adoption	$ (784,399)
[1]	See note 2.5 “Changes in accounting policies”.

BASIS OF PREPARATION OF THE C_6

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - IFRS 15 Revenue from contracts with customers (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Jan. 01, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	Dec. 31, 2015COP ($)
Disclosure of initial application of standards or interpretations [line items]
Contract liability related to concessions			$ 535,960
Retained earnings	$ 2,645.8		8,598,319		$ 7,174,418	[2]
Service concession arrangement [member]
Disclosure of initial application of standards or interpretations [line items]
Intangible assets			$ 5,514,481	$ 3,734,116	$ 3,114,167		$ 2,805,314	$ 2,390,702
Increase (decrease) due to application of IFRS 15
Disclosure of initial application of standards or interpretations [line items]
Commissions related to funding				12,744
Contract liability related to concessions				(531,804)
Financial assets				450,878
Deferred tax effect				(181,680)
Retained earnings, operation and construction services (concessions)				370,087
Customer loyalty programs				32,232
Deferred tax effect				(11,038)
Net impact retained earnings, customer loyaly programs				21,194
Retained earnings				391,281
Increase (decrease) due to application of IFRS 15 | Service concession arrangement [member]
Disclosure of initial application of standards or interpretations [line items]
Intangible assets				$ 619,949
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

BASIS OF PREPARATION OF THE C_7

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Impact of IFRS 9 (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of detailed information about financial instruments [line items]
Retained earnings	$ 2,645.8		$ 8,598,319	$ 7,174,418	[2]
IFRS 9
Disclosure of detailed information about financial instruments [line items]
Recognition of changes in measurement due in classification under IFRS 9				71,229
Recognition of expected credit losses under IFRS 9				(1,198,863)
Impact on equity method due to impairment of other accounts receivable from associates				(3,691)
Deferred tax effect				346,926
Retained earnings				(784,399)
IFRS 9 | Reserves And Retained Earnings
Disclosure of detailed information about financial instruments [line items]
Recognition of expected credit losses under IFRS 9				(1,255,060)
Deferred tax effect				366,650
Retained earnings				(888,411)
IFRS 9 | Other comprehensive income (OCI)
Disclosure of detailed information about financial instruments [line items]
Recognition of changes in measurement due in classification under IFRS 9				71,229
Recognition of expected credit losses under IFRS 9				56,198
Impact on equity method due to impairment of other accounts receivable from associates				(3,691)
Deferred tax effect				(19,725)
Retained earnings				$ 104,011
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

BASIS OF PREPARATION OF THE C_8

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Financial Assets (Details) $ in Millions	Dec. 31, 2017COP ($)
Financial assets
Carrying amount under IAS 39	$ 222,154,907
Reclassification	41,790
Remeasurement	71,229
Carrying amount under IFRS 9	222,267,926
Investment equity securities
Financial assets
Reclassification	41,790
Remeasurement	71,229
Mandatorily at FVTPL | Debt securities
Financial assets
Carrying amount under IAS 39	8,256
Carrying amount under IFRS 9	8,256
Designated as at FVTPL | Debt securities
Financial assets
Carrying amount under IFRS 9	2,650,536
Designated as at FVTPL | Investment equity securities
Financial assets
Carrying amount under IFRS 9	2,149,160
Designated as at FVTPL | Derivatives
Financial assets
Carrying amount under IFRS 9	328,392
Designated as at FVTPL | Assets under concession contracts
Financial assets
Carrying amount under IAS 39	2,282,611
Carrying amount under IFRS 9	2,282,611
Financial assets measured at fair value through other comprehensive income, category [member] | Debt securities
Financial assets
Carrying amount under IFRS 9	17,781,871
Investments in equity instruments designated at fair value through other comprehensive income [member] | Investment equity securities
Financial assets
Carrying amount under IFRS 9	937,054
Financial assets at amortised cost, category [member] | Cash and cash equivalents
Financial assets
Carrying amount under IFRS 9	22,336,838
Financial assets at amortised cost, category [member] | Debt securities
Financial assets
Carrying amount under IFRS 9	2,899,039
Financial assets at amortised cost, category [member] | Loans and leases receivables
Financial assets
Carrying amount under IFRS 9	166,372,776
Financial assets at amortised cost, category [member] | Other Accounts Receivable
Financial assets
Carrying amount under IFRS 9	3,680,116
Financial assets at amortised cost, category [member] | Assets under concession contracts
Financial assets
Carrying amount under IFRS 9	786,018
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities
Financial assets
Carrying amount under IAS 39	2,650,536
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Investment equity securities
Financial assets
Carrying amount under IAS 39	2,149,160
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Derivatives
Financial assets
Carrying amount under IAS 39	328,392
Held-to-maturity investments, category [member] | Debt securities
Financial assets
Carrying amount under IAS 39	2,899,039
Loan and other accounts receivable | Cash and cash equivalents
Financial assets
Carrying amount under IAS 39	22,336,838
Loan and other accounts receivable | Loans and leases receivables
Financial assets
Carrying amount under IAS 39	166,372,776
Loan and other accounts receivable | Other Accounts Receivable
Financial assets
Carrying amount under IAS 39	3,680,116
Loan and other accounts receivable | Assets under concession contracts
Financial assets
Carrying amount under IAS 39	786,018
Financial assets available-for-sale, category [member] | Debt securities
Financial assets
Carrying amount under IAS 39	17,781,871
Financial assets available-for-sale, category [member] | Investment equity securities
Financial assets
Carrying amount under IAS 39	824,033
Hedging instruments | Derivatives
Financial assets
Carrying amount under IAS 39	55,261
Carrying amount under IFRS 9	$ 55,261

BASIS OF PREPARATION OF THE C_9

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Financial Liabilities (Details) $ in Millions	Dec. 31, 2017COP ($)
Financial Liabilities
Carrying amount under IAS 39	$ 200,473,389
Carrying amount under IFRS 9	200,473,389
Customer deposits | Other financial liabilities
Financial Liabilities
Carrying amount under IAS 39	154,885,224
Carrying amount under IFRS 9	154,885,224
Financial obligations | Other financial liabilities
Financial Liabilities
Carrying amount under IAS 39	45,276,036
Carrying amount under IFRS 9	45,276,036
Derivative liabilities | Trading
Financial Liabilities
Carrying amount under IAS 39	298,665
Carrying amount under IFRS 9	298,665
Derivative liabilities | Financial Liability Hedging Instrument, Category
Financial Liabilities
Carrying amount under IAS 39	13,464
Carrying amount under IFRS 9	$ 13,464

BASIS OF PREPARATION OF THE _10

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Impairment of financial assets (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Financial instruments
Financial assets	$ 245,105,338	$ 222,154,907
Accumulated impairment
Financial instruments
Loss allowance under IAS 39	(5,875,018)
Loss allowance under IFRS 9	(7,077,572)
Loans
Financial instruments
Financial assets	176,881,841
Loans | Accumulated impairment
Financial instruments
Financial assets	(1,163,009)
Credit Commitments | Accumulated impairment
Financial instruments
Financial assets	(16,217)
Other Accounts Receivable
Financial instruments
Financial assets	9,557,534	6,748,745
Other Accounts Receivable | Accumulated impairment
Financial instruments
Financial assets	(18,907)
Impact on equity method investees due to impairment of other accounts receivable from associates | Accumulated impairment
Financial instruments
Financial assets	(3,691)
Debt securities
Financial instruments
Financial assets		$ 20,689,166
Debt securities | Accumulated impairment
Financial instruments
Financial assets	(672)
Other financial assets | Accumulated impairment
Financial instruments
Financial assets	$ (58)

BASIS OF PREPARATION OF THE _11

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Impact on OCI from Impairment (Details) - Accumulated impairment - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about financial instruments [line items]
Impairment loss due to credit risk under IAS 39	$ (5,875,018)
Loss allowance under IFRS 9	$ (7,077,572)
Financial assets at fair value through other comprehensive income, category [member]
Disclosure of detailed information about financial instruments [line items]
Impairment loss due to credit risk under IAS 39		$ (71,708)
Loss allowance under IFRS 9		(127,906)
Debt securities | Financial assets at fair value through other comprehensive income, category [member]
Disclosure of detailed information about financial instruments [line items]
Loss allowance under IFRS 9		$ (56,198)

BASIS OF PREPARATION OF THE _12

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2018
Buildings
Disclosure of voluntary change in accounting policy [line items]
Useful lives or depreciation rates, property, plant and equipment	According to appraisals without exceeding 70 years
Office Equipment
Disclosure of voluntary change in accounting policy [line items]
Useful lives or depreciation rates, property, plant and equipment	From 3 to 10 years
Machinery
Disclosure of voluntary change in accounting policy [line items]
Useful lives or depreciation rates, property, plant and equipment	From 5 to 25 years
Computer Equipment
Disclosure of voluntary change in accounting policy [line items]
Useful lives or depreciation rates, property, plant and equipment	From 3 to 12 years
Vehicles
Disclosure of voluntary change in accounting policy [line items]
Useful lives or depreciation rates, property, plant and equipment	From 5 to 10 years
Bearer plants
Disclosure of voluntary change in accounting policy [line items]
Useful lives or depreciation rates, property, plant and equipment	From 25 to 35 years

BASIS OF PREPARATION OF THE _13

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Changes in Presentation (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	Dec. 31, 2015COP ($)
Trading assets
Debt securities			$ 3,762,978	$ 2,650,536
Equity securities			2,672,648	2,149,160
Derivative assets			768,686	328,392
Held-to-maturity investments				2,899,039
Investment securities	$ 7,086.7		23,030,159	21,513,199	[2]
Loans:
Commercial	31,512.9		102,408,977	99,428,894	[2]
Consumer	17,064.4		55,455,064	50,382,895	[2]
Mortgages	5,721.1		18,592,103	16,151,299	[2]
Microcredit	131		425,697	409,688	[2]
Allowance for impairment losses	(2,522.1)		(8,196,187)	(5,618,481)	[2]	$ (4,261,444)	$ (3,718,324)
Other accounts receivable, net	2,862		9,300,643	6,521,883	[2]
Total other accounts receivables, net	2,862		9,300,643	6,521,883	[2]
Hedging derivatives	9.3		30,138	55,261	[2]
Trading liabilities
Derivative instruments	249.7		811,305	298,665	[2]
Hedging derivatives	$ 60.2		195,539	13,464	[2]
Increase (decrease) due to application of IFRS 9
Trading assets
Total trading assets				5,128,088
Investment securities				21,513,199
Loans:
Total loans, net				160,754,295
Other accounts receivable, net				6,521,883
Total other accounts receivables, net				6,521,883
Hedging derivatives				55,261
Trading liabilities
Derivative instruments				298,665
Hedging derivatives				13,464
Previously stated | Increase (decrease) due to application of IFRS 9
Trading assets
Equity securities				2,149,160
Derivative assets				328,392
Total held-for-trading				5,128,088
Held-to-maturity investments				2,899,039
Loans:
Commercial				99,428,894
Consumer				50,382,895
Mortgages				16,151,299
Microcredit				409,688
Allowance for impairment losses				(5,618,481)
Total loans, net				160,754,295
Other financial assets at fair value through profit or loss				2,282,611
Other accounts receivable, net				4,239,272
Total other accounts receivables, net				4,239,272
Hedging derivatives				55,261
Trading liabilities
Derivative instruments				298,665
Hedging derivatives				13,464
Held for trading debt securities
Trading assets
Debt securities			$ 3,762,978	2,650,536
Held for trading debt securities | Previously stated | Increase (decrease) due to application of IFRS 9
Trading assets
Debt securities				2,650,536
Trading assets				4,799,696
Available For Sale Financial Assets | Previously stated | Increase (decrease) due to application of IFRS 9
Trading assets
Debt securities				17,790,127
Equity securities				824,033
Derivative assets				$ 18,614,160
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

BASIS OF PREPARATION OF THE _14

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Consolidated Statement of Income - (Details) $ in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of voluntary change in accounting policy [line items]
Income from sales of goods and services		$ 2,500.5		$ 8,126,014	$ 5,792,850	[2]	$ 6,654,623	[2]
Costs and expenses of sales goods and services		(1,686.9)		(5,482,102)	(5,035,827)	[2]	(5,725,328)	[2]
Net income from sales goods and services	[2]	813.6		2,643,912	757,023		929,295
Other income	[2]	$ 418.1		$ 1,358,681	1,151,745		1,676,106
Previously stated
Disclosure of voluntary change in accounting policy [line items]
Other income					1,908,768		2,605,401
Increase (decrease) due to application of IFRS 15
Disclosure of voluntary change in accounting policy [line items]
Income from sales of goods and services					5,792,850		6,654,623
Costs and expenses of sales goods and services					(5,035,827)		(5,725,328)
Net income from sales goods and services					757,023		929,295
Other income					$ (757,023)		$ (929,295)
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

BASIS OF PREPARATION OF THE _15

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Leases - (Details) $ in Millions, $ in Millions	Jan. 01, 2019COP ($)	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of expected impact of initial application of new standards or interpretations [line items]
lease liabilities				$ 7,347	$ 10,912
Deferred tax asset		$ 105		341,338	139,423	[2]
Deferred tax liability		665		2,160,942	1,696,843	[2]
Retained earnings		$ 2,645.8		$ 8,598,319	$ 7,174,418	[2]
Forecast | IFRS 16
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Right of use assets	$ 2,098,731
lease liabilities	2,138,990
Deferred tax asset	644,541
Deferred tax liability	633,632
Retained earnings	$ 29,350
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

BASIS OF PREPARATION OF THE _16

BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Other standards (Details)	12 Months Ended
	Dec. 31, 2018
Forthcoming requirements
Disclosure of voluntary change in accounting policy [line items]
Title of new IFRS	Forthcoming requirements.
IFRS 16
Disclosure of voluntary change in accounting policy [line items]
Title of new IFRS	IFRS 16
Description of nature of impending change in accounting policy	Leases
IFRIC 23
Disclosure of voluntary change in accounting policy [line items]
Title of new IFRS	IFRIC 23
Description of nature of impending change in accounting policy	Uncertainty over Income Tax and Tax Treatments
Amendments to IFRS 9
Disclosure of voluntary change in accounting policy [line items]
Title of new IFRS	Amendments to IFRS 9
Description of nature of impending change in accounting policy	Prepayment Features with Negative Compensation
Amendments to IAS 28
Disclosure of voluntary change in accounting policy [line items]
Title of new IFRS	Amendments to IAS 28
Description of nature of impending change in accounting policy	Long-term Interests in Associates and Joint Ventures
Amendments to IAS 19
Disclosure of voluntary change in accounting policy [line items]
Title of new IFRS	Amendments to IAS 19
Description of nature of impending change in accounting policy	Plan Amendment, Curtailment or Settlement
Various Standards
Disclosure of voluntary change in accounting policy [line items]
Title of new IFRS	Various standards
Description of nature of impending change in accounting policy	Annual Improvements to IFRS Standards 2015–2017 Cycle
Date by which application of new IFRS is required	Jan. 1, 2019
Amendment to IFRS 3
Disclosure of voluntary change in accounting policy [line items]
Title of new IFRS	Amendment to IFRS 3
Description of nature of impending change in accounting policy	Business combinations
Conceptual Framework
Disclosure of voluntary change in accounting policy [line items]
Title of new IFRS	Conceptual Framework
Description of nature of impending change in accounting policy	Amendments to References to Conceptual Framework in IFRS Standards
Date by which application of new IFRS is required	Jan. 1, 2020
IFRS 17
Disclosure of voluntary change in accounting policy [line items]
Title of new IFRS	IFRS 17
Description of nature of impending change in accounting policy	Insurance Contracts
Date by which application of new IFRS is required	Jan. 1, 2021
Amendment to IAS 1 and IAS 8
Disclosure of voluntary change in accounting policy [line items]
Title of new IFRS	Amendment to IAS 1 and IAS 8
Description of nature of impending change in accounting policy	Definition of materiality
Amendments to IFRS 10 and IAS 28
Disclosure of voluntary change in accounting policy [line items]
Title of new IFRS	Amendments to IFRS 10 and IAS 28
Description of nature of impending change in accounting policy	Sale or Contribution of Assets between an Investor and its Associate or Joint Venture

RISK MANAGEMENT - Consolidated

RISK MANAGEMENT - Consolidated Credit Risk Exposure (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Risk Management
Total financial assets with credit risk	$ 234,896,707	$ 213,376,687
Total exposure to credit risk outside of the statement of financial position	30,925,681	27,223,238
Total maximum exposure to credit risk	265,822,388	240,599,925
Cash and cash equivalentss
Risk Management
Total financial assets with credit risk	21,955,901	16,531,811
Trading Derivatives
Risk Management
Total financial assets with credit risk	768,686	328,392
Hedging Derivatives
Risk Management
Total financial assets with credit risk	30,138	55,261
Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Risk Management
Total financial assets with credit risk	3,762,978	2,650,536
Financial assets at fair value through profit or loss, category [member]
Risk Management
Total financial assets with credit risk	31,256
Financial assets at fair value through other comprehensive income, category [member]
Risk Management
Total financial assets with credit risk	18,935,757
Financial assets available-for-sale, category [member]
Risk Management
Total financial assets with credit risk		17,790,127
Financial assets at amortised cost, category [member]
Risk Management
Total financial assets with credit risk	2,972,616
Held-to-maturity investments, category [member]
Risk Management
Total financial assets with credit risk		2,899,039
Commercial loans | Loan and other accounts receivable
Risk Management
Total financial assets with credit risk	102,408,977	99,428,894
Consumer | Loan and other accounts receivable
Risk Management
Total financial assets with credit risk	55,455,064	50,382,895
Mortgage | Loan and other accounts receivable
Risk Management
Total financial assets with credit risk	18,592,103	16,151,299
Microcredit | Loan and other accounts receivable
Risk Management
Total financial assets with credit risk	425,697	409,688
Other accounts receivable FVTPL | Loan and other accounts receivable
Risk Management
Total financial assets with credit risk	2,488,414	2,282,611
Other accounts receivable at amortized cost | Loan and other accounts receivable
Risk Management
Total financial assets with credit risk	7,069,120	4,466,134
Financial guarantee contracts
Risk Management
Total exposure to credit risk outside of the statement of financial position	3,446,601	3,495,921
Credit Commitments
Risk Management
Total exposure to credit risk outside of the statement of financial position	$ 27,479,080	$ 23,727,317

RISK MANAGEMENT - Loans are rec

RISK MANAGEMENT - Loans are recorded at amortized cost (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Risk Management
Balance according to disclosure	$ 54,429.4		$ 176,881,841	$ 166,372,776	[2]
Consumer
Risk Management
Balance according to disclosure			55,200,581	50,156,131
Commercial loans
Risk Management
Balance according to disclosure			92,550,025	89,536,494
Mortgage
Risk Management
Balance according to disclosure			17,279,362	15,103,533
Microcredit
Risk Management
Balance according to disclosure			425,697	409,688
Total gross loan portfolio
Risk Management
Balance in Statement of financial position			176,881,841	166,372,776
Balance according to disclosure			176,881,841	166,372,776
Total gross loan portfolio | Consumer
Risk Management
Balance according to disclosure			55,200,581	50,156,131
Total gross loan portfolio | Commercial loans
Risk Management
Balance according to disclosure			92,550,025	89,536,494
Total gross loan portfolio | Mortgage
Risk Management
Balance according to disclosure			17,279,362	15,103,533
Total gross loan portfolio | Finance Leases
Risk Management
Balance according to disclosure			11,426,176	11,166,930
Total gross loan portfolio | Microcredit
Risk Management
Balance according to disclosure			425,697	409,688
Total gross loan portfolio | Commercial loans | Commercial loans
Risk Management
Balance in Statement of financial position			102,408,977	99,428,894
Leasing presentation adjustment			(9,858,952)	(9,892,400)
Balance according to disclosure			92,550,025	89,536,494
Total gross loan portfolio | Consumer | Consumer
Risk Management
Balance in Statement of financial position			55,455,064	50,382,895
Leasing presentation adjustment			(254,483)	(226,764)
Balance according to disclosure			55,200,581	50,156,131
Total gross loan portfolio | Mortgage | Mortgage
Risk Management
Balance in Statement of financial position			18,592,103	16,151,299
Leasing presentation adjustment			(1,312,741)	(1,047,766)
Balance according to disclosure			17,279,362	15,103,533
Total gross loan portfolio | Microcredit | Microcredit
Risk Management
Balance in Statement of financial position			425,697	409,688
Balance according to disclosure			425,697	409,688
Total gross loan portfolio | Financial Leasing | Finance Leases
Risk Management
Leasing presentation adjustment			11,426,176	11,166,930
Balance according to disclosure			$ 11,426,176	$ 11,166,930
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

RISK MANAGEMENT - Credit qualit

RISK MANAGEMENT - Credit quality analysis (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost	$ 54,429.4		$ 176,881,841	$ 166,372,776	[2]
Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			176,881,841	166,372,776
Commercial loans
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			92,550,025	89,536,494
Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			92,550,025	89,536,494
Consumer
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			55,200,581	50,156,131
Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			55,200,581	50,156,131
Mortgage
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			17,279,362	15,103,533
Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			17,279,362	15,103,533
Microcredit
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			425,697	409,688
Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			425,697	409,688
Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			11,426,176	11,166,930
12-month ECL | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			158,975,675
12-month ECL | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			84,191,219
12-month ECL | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			48,741,305
12-month ECL | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			15,566,057
12-month ECL | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			344,723
12-month ECL | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			10,132,371
Lifetime ECL | Not credit-impaired | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			7,617,504
Lifetime ECL | Not credit-impaired | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,690,861
Lifetime ECL | Not credit-impaired | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			4,235,580
Lifetime ECL | Not credit-impaired | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,335,741
Lifetime ECL | Not credit-impaired | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			25,374
Lifetime ECL | Not credit-impaired | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			329,948
Lifetime ECL | Credit-impaired | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			10,288,662
Lifetime ECL | Credit-impaired | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			6,667,945
Lifetime ECL | Credit-impaired | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			2,223,696
Lifetime ECL | Credit-impaired | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			377,564
Lifetime ECL | Credit-impaired | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			55,600
Lifetime ECL | Credit-impaired | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			963,857
“A” Normal risk | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			83,912,065	82,217,135
“A” Normal risk | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			49,617,243	45,794,015
“A” Normal risk | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			16,062,147	14,208,051
“A” Normal risk | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			347,515	341,194
“A” Normal risk | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			9,924,095	9,874,243
“A” Normal risk | 12-month ECL | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			83,532,853
“A” Normal risk | 12-month ECL | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			47,782,665
“A” Normal risk | 12-month ECL | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			15,478,116
“A” Normal risk | 12-month ECL | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			344,424
“A” Normal risk | 12-month ECL | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			9,818,788
“A” Normal risk | Lifetime ECL | Not credit-impaired | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			195,949
“A” Normal risk | Lifetime ECL | Not credit-impaired | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,815,283
“A” Normal risk | Lifetime ECL | Not credit-impaired | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			563,066
“A” Normal risk | Lifetime ECL | Not credit-impaired | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			2,897
“A” Normal risk | Lifetime ECL | Not credit-impaired | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			79,008
“A” Normal risk | Lifetime ECL | Credit-impaired | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			183,263
“A” Normal risk | Lifetime ECL | Credit-impaired | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			19,295
“A” Normal risk | Lifetime ECL | Credit-impaired | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			20,965
“A” Normal risk | Lifetime ECL | Credit-impaired | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			194
“A” Normal risk | Lifetime ECL | Credit-impaired | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			26,299
“B” Acceptable risk | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			2,277,166	2,093,079
“B” Acceptable risk | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,816,304	1,364,520
“B” Acceptable risk | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			412,709	324,925
“B” Acceptable risk | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			10,704	11,871
“B” Acceptable risk | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			512,678	489,323
“B” Acceptable risk | 12-month ECL | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			565,266
“B” Acceptable risk | 12-month ECL | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			799,326
“B” Acceptable risk | 12-month ECL | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			72,557
“B” Acceptable risk | 12-month ECL | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			162
“B” Acceptable risk | 12-month ECL | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			267,541
“B” Acceptable risk | Lifetime ECL | Not credit-impaired | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,220,838
“B” Acceptable risk | Lifetime ECL | Not credit-impaired | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,004,173
“B” Acceptable risk | Lifetime ECL | Not credit-impaired | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			337,093
“B” Acceptable risk | Lifetime ECL | Not credit-impaired | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			10,542
“B” Acceptable risk | Lifetime ECL | Not credit-impaired | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			183,862
“B” Acceptable risk | Lifetime ECL | Credit-impaired | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			491,062
“B” Acceptable risk | Lifetime ECL | Credit-impaired | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			12,805
“B” Acceptable risk | Lifetime ECL | Credit-impaired | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			3,059
“B” Acceptable risk | Lifetime ECL | Credit-impaired | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			61,275
“C” Appreciable risk | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			2,996,321	2,735,103
“C” Appreciable risk | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,737,120	1,232,881
“C” Appreciable risk | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			467,619	326,237
“C” Appreciable risk | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			7,590	6,742
“C” Appreciable risk | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			319,916	394,534
“C” Appreciable risk | 12-month ECL | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			88,802
“C” Appreciable risk | 12-month ECL | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			128,850
“C” Appreciable risk | 12-month ECL | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			13,547
“C” Appreciable risk | 12-month ECL | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			71
“C” Appreciable risk | 12-month ECL | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			45,418
“C” Appreciable risk | Lifetime ECL | Not credit-impaired | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			227,429
“C” Appreciable risk | Lifetime ECL | Not credit-impaired | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,149,796
“C” Appreciable risk | Lifetime ECL | Not credit-impaired | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			418,754
“C” Appreciable risk | Lifetime ECL | Not credit-impaired | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			7,519
“C” Appreciable risk | Lifetime ECL | Not credit-impaired | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			56,561
“C” Appreciable risk | Lifetime ECL | Credit-impaired | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			2,680,090
“C” Appreciable risk | Lifetime ECL | Credit-impaired | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			458,474
“C” Appreciable risk | Lifetime ECL | Credit-impaired | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			35,318
“C” Appreciable risk | Lifetime ECL | Credit-impaired | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			217,937
“D” Significant risk | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,586,536	1,620,293
“D” Significant risk | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,322,943	1,256,089
“D” Significant risk | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			112,947	79,707
“D” Significant risk | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			8,686	7,342
“D” Significant risk | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			488,401	309,726
“D” Significant risk | 12-month ECL | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,290
“D” Significant risk | 12-month ECL | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			23,896
“D” Significant risk | 12-month ECL | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			151
“D” Significant risk | 12-month ECL | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			35
“D” Significant risk | 12-month ECL | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			178
“D” Significant risk | Lifetime ECL | Not credit-impaired | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			36,295
“D” Significant risk | Lifetime ECL | Not credit-impaired | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			228,509
“D” Significant risk | Lifetime ECL | Not credit-impaired | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			11,632
“D” Significant risk | Lifetime ECL | Not credit-impaired | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			2,980
“D” Significant risk | Lifetime ECL | Not credit-impaired | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			10,403
“D” Significant risk | Lifetime ECL | Credit-impaired | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,548,951
“D” Significant risk | Lifetime ECL | Credit-impaired | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,070,538
“D” Significant risk | Lifetime ECL | Credit-impaired | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			101,164
“D” Significant risk | Lifetime ECL | Credit-impaired | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			5,671
“D” Significant risk | Lifetime ECL | Credit-impaired | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			477,820
“E” Risk of nonrecoverability | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,777,937	870,884
“E” Risk of nonrecoverability | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			706,971	508,626
“E” Risk of nonrecoverability | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			223,940	164,613
“E” Risk of nonrecoverability | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			51,202	42,539
“E” Risk of nonrecoverability | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			181,086	$ 99,104
“E” Risk of nonrecoverability | 12-month ECL | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			3,008
“E” Risk of nonrecoverability | 12-month ECL | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			6,568
“E” Risk of nonrecoverability | 12-month ECL | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,686
“E” Risk of nonrecoverability | 12-month ECL | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			31
“E” Risk of nonrecoverability | 12-month ECL | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			446
“E” Risk of nonrecoverability | Lifetime ECL | Not credit-impaired | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			10,350
“E” Risk of nonrecoverability | Lifetime ECL | Not credit-impaired | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			37,819
“E” Risk of nonrecoverability | Lifetime ECL | Not credit-impaired | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			5,196
“E” Risk of nonrecoverability | Lifetime ECL | Not credit-impaired | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,436
“E” Risk of nonrecoverability | Lifetime ECL | Not credit-impaired | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			114
“E” Risk of nonrecoverability | Lifetime ECL | Credit-impaired | Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,764,579
“E” Risk of nonrecoverability | Lifetime ECL | Credit-impaired | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			662,584
“E” Risk of nonrecoverability | Lifetime ECL | Credit-impaired | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			217,058
“E” Risk of nonrecoverability | Lifetime ECL | Credit-impaired | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			49,735
“E” Risk of nonrecoverability | Lifetime ECL | Credit-impaired | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 180,526
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

RISK MANAGEMENT - Credit qual_2

RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017USD ($)	[1]	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	[3]	Dec. 31, 2015COP ($)	[3]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Cash equivalents			$ 21,955,901			$ 16,531,811
Cash held by entity			6,445,382			5,805,027
Cash and cash equivalents	$ 8,739.5		28,401,283	$ 6,873.4		22,336,838	[2],[3]	$ 22,193,004		$ 22,284,977
Trading assets	2,216.9		7,204,312			5,128,088	[2]
Held-to-maturity investments						2,899,039
Investments in debt securities through profit or loss			3,762,978			2,650,536
Investments in debt securities available for sale						17,790,127
Total financial assets			245,105,338			222,154,907
Other accounts receivable	$ 2,862		9,300,643			6,521,883	[2]
Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Cash equivalents			13,988,666			9,391,266
Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Cash equivalents			7,707,990			6,679,084
Without grade or not available
Disclosure Of Financial Risk Management Explanatory [Line Items]
Cash equivalents			259,245			461,461
Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities through profit or loss			3,762,978
Total financial assets						20,689,166
Derivatives instruments
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			798,824			383,653
Derivatives instruments | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			755,218			312,426
Derivatives instruments | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			9,926			503
Derivatives instruments | Without grade or not available
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			33,680			70,724
Financial entities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Cash equivalents			10,194,255			5,570,728
Others | Without grade or not available
Disclosure Of Financial Risk Management Explanatory [Line Items]
Cash equivalents						83
Financial Entities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Cash equivalents			443,862			685,704
Financial Entities | Without grade or not available
Disclosure Of Financial Risk Management Explanatory [Line Items]
Cash equivalents			256,907			459,909
Central Banks | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Cash equivalents			3,794,411			3,820,538
Central Banks | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Cash equivalents			7,264,128			5,993,380
Central Banks | Without grade or not available
Disclosure Of Financial Risk Management Explanatory [Line Items]
Cash equivalents			2,338			1,469
Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						5,128,088
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			3,762,978			2,650,536
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			3,530,552			2,377,109
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			228,663			257,011
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Without grade or not available
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			3,763			16,416
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Central Bank | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			12,914			34,095
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Sovereign | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			2,270,642			1,231,219
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Sovereign | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			98,155			92,931
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Other Public Entities | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			128,546			70,064
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Corporate | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			30,207			68,286
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Corporate | Debt securities | Without grade or not available
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			3,763			16,416
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Financial Entities | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			1,101,157			1,007,540
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Financial Entities | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			117,594			129,985
Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			31,256
Financial assets at fair value through profit or loss, category [member] | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			31,256
Other accounts receivable			2,488,414			2,282,611
Financial assets at fair value through profit or loss, category [member] | Sovereign | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Other accounts receivable			2,488,414			2,282,611
Financial assets at fair value through profit or loss, category [member] | Corporate | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			31,256
Financial assets at fair value through other comprehensive income, category [member] | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			18,935,757
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			14,976,941
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			3,951,188
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Default
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			7,628
Financial assets at fair value through other comprehensive income, category [member] | Central Bank | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			1,131,740
Financial assets at fair value through other comprehensive income, category [member] | Sovereign | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			11,492,538
Financial assets at fair value through other comprehensive income, category [member] | Sovereign | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			2,048,792
Financial assets at fair value through other comprehensive income, category [member] | Other Public Entities | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			497,634
Financial assets at fair value through other comprehensive income, category [member] | Corporate | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			135,985
Financial assets at fair value through other comprehensive income, category [member] | Corporate | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			194,302
Financial assets at fair value through other comprehensive income, category [member] | Corporate | Debt securities | Default
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			7,628
Financial assets at fair value through other comprehensive income, category [member] | Financial Entities | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			2,732,127
Financial assets at fair value through other comprehensive income, category [member] | Financial Entities | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			576,354
Financial assets at fair value through other comprehensive income, category [member] | Multilaterals | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			118,657
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			18,474,805
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			14,976,941
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			3,497,864
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Central Bank | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			1,066,822
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Sovereign | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			11,492,538
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Sovereign | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			1,994,205
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Other Public Entities | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			497,634
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Corporate | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			135,985
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Corporate | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			61,485
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Financial Entities | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			2,732,127
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Financial Entities | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			375,352
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Multilaterals | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			118,657
Financial assets at fair value through other comprehensive income, category [member] | Not credit-impaired | Lifetime ECL | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			453,324
Financial assets at fair value through other comprehensive income, category [member] | Not credit-impaired | Lifetime ECL | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			453,324
Financial assets at fair value through other comprehensive income, category [member] | Not credit-impaired | Lifetime ECL | Central Bank | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			64,918
Financial assets at fair value through other comprehensive income, category [member] | Not credit-impaired | Lifetime ECL | Sovereign | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			54,587
Financial assets at fair value through other comprehensive income, category [member] | Not credit-impaired | Lifetime ECL | Corporate | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			132,817
Financial assets at fair value through other comprehensive income, category [member] | Not credit-impaired | Lifetime ECL | Financial Entities | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			201,002
Financial assets at fair value through other comprehensive income, category [member] | Credit-impaired | Lifetime ECL | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			7,628
Financial assets at fair value through other comprehensive income, category [member] | Credit-impaired | Lifetime ECL | Debt securities | Default
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			7,628
Financial assets at fair value through other comprehensive income, category [member] | Credit-impaired | Lifetime ECL | Corporate | Debt securities | Default
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			7,628
Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						18,614,160
Financial assets available-for-sale, category [member] | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						17,790,127
Financial assets available-for-sale, category [member] | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						14,049,049
Financial assets available-for-sale, category [member] | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						3,705,999
Financial assets available-for-sale, category [member] | Debt securities | Default
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						34,516
Financial assets available-for-sale, category [member] | Debt securities | Without grade or not available
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						563
Financial assets available-for-sale, category [member] | Central Bank | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						1,356,874
Financial assets available-for-sale, category [member] | Sovereign | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						10,157,239
Financial assets available-for-sale, category [member] | Sovereign | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						1,432,083
Financial assets available-for-sale, category [member] | Other Public Entities | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						662,702
Financial assets available-for-sale, category [member] | Corporate | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						148,738
Financial assets available-for-sale, category [member] | Corporate | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						274,450
Financial assets available-for-sale, category [member] | Corporate | Debt securities | Default
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						34,516
Financial assets available-for-sale, category [member] | Corporate | Debt securities | Without grade or not available
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						563
Financial assets available-for-sale, category [member] | Financial Entities | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						2,975,485
Financial assets available-for-sale, category [member] | Financial Entities | Debt securities | Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						642,592
Financial assets available-for-sale, category [member] | Multilaterals | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						104,885
Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			215,324,860			26,802,972
Financial assets at amortised cost, category [member] | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			2,972,616
Financial assets at amortised cost, category [member] | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			2,972,616
Financial assets at amortised cost, category [member] | Sovereign | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			32,321
Financial assets at amortised cost, category [member] | Other Public Entities | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			2,931,172
Financial assets at amortised cost, category [member] | Financial Entities | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			9,123
Financial assets at amortised cost, category [member] | 12-month ECL | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			2,972,616
Financial assets at amortised cost, category [member] | 12-month ECL | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			2,972,616
Financial assets at amortised cost, category [member] | 12-month ECL | Sovereign | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			32,321
Financial assets at amortised cost, category [member] | 12-month ECL | Other Public Entities | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			2,931,172
Financial assets at amortised cost, category [member] | 12-month ECL | Financial Entities | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			9,123
Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						2,899,039
Held-to-maturity investments, category [member] | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						2,899,039
Held-to-maturity investments, category [member] | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						2,875,209
Held-to-maturity investments, category [member] | Debt securities | Without grade or not available
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						23,830
Held-to-maturity investments, category [member] | Sovereign | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						27,288
Held-to-maturity investments, category [member] | Other Public Entities | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						2,839,286
Held-to-maturity investments, category [member] | Financial Entities | Debt securities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						8,635
Held-to-maturity investments, category [member] | Financial Entities | Debt securities | Without grade or not available
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets						23,830
Other Accounts Receivable | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			2,971,500			1,100,886
Other Accounts Receivable | Sovereign | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			2,631,235			786,018
Other Accounts Receivable | Financial Entities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			340,265			$ 314,848
Other Accounts Receivable | 12-month ECL | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			2,971,500
Other Accounts Receivable | 12-month ECL | Sovereign | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			2,631,235
Other Accounts Receivable | 12-month ECL | Financial Entities | Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total financial assets			$ 340,265
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.
[3]	See note 2.5 “Changes in accounting policies”.

RISK MANAGEMENT - Exposure to c

RISK MANAGEMENT - Exposure to credit risk and ECLs by segment (Details) - Other Accounts Receivable - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	$ 709,778	$ 732,560
Contribution Segmentation
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	71,903	130,552
Gas Segmentation
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	444,657	375,914
Energy Segmentation
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	139,172	99,841
Other Accounts Receivable Segmentation
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	54,046	$ 126,253
12-month ECL
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	395,849
12-month ECL | Contribution Segmentation
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	71,903
12-month ECL | Gas Segmentation
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	232,445
12-month ECL | Energy Segmentation
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	37,455
12-month ECL | Other Accounts Receivable Segmentation
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	54,046
Lifetime ECL | Not credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	138,082
Lifetime ECL | Not credit-impaired | Gas Segmentation
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	134,519
Lifetime ECL | Not credit-impaired | Energy Segmentation
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	3,563
Lifetime ECL | Credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	175,847
Lifetime ECL | Credit-impaired | Gas Segmentation
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	77,693
Lifetime ECL | Credit-impaired | Energy Segmentation
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trade receivables	$ 98,154

RISK MANAGEMENT - Exposure to_2

RISK MANAGEMENT - Exposure to credit risk and ECLs for trade receivables and contract assets from individual customers (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 245,105,338	$ 222,154,907
Trade Receivables And Contract Assets From Individual Customers
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	3,387,842
Trade Receivables And Contract Assets From Individual Customers | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 231,660
Trade Receivables And Contract Assets From Individual Customers | Up to 1 month
Disclosure Of Financial Risk Management Explanatory [Line Items]
Expected credit loss rate	1.15%
Financial assets	$ 2,846,086
Trade Receivables And Contract Assets From Individual Customers | Up to 1 month | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 32,622
Trade Receivables And Contract Assets From Individual Customers | From 31 to 60 days
Disclosure Of Financial Risk Management Explanatory [Line Items]
Expected credit loss rate	6.70%
Financial assets	$ 111,636
Trade Receivables And Contract Assets From Individual Customers | From 31 to 60 days | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 7,485
Trade Receivables And Contract Assets From Individual Customers | From 61 to 90 days
Disclosure Of Financial Risk Management Explanatory [Line Items]
Expected credit loss rate	9.39%
Financial assets	$ 31,625
Trade Receivables And Contract Assets From Individual Customers | From 61 to 90 days | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 2,970
Trade Receivables And Contract Assets From Individual Customers | Later than three months
Disclosure Of Financial Risk Management Explanatory [Line Items]
Expected credit loss rate	47.32%
Financial assets	$ 398,495
Trade Receivables And Contract Assets From Individual Customers | Later than three months | Credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	398,495
Trade Receivables And Contract Assets From Individual Customers | Later than three months | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 188,583

RISK MANAGEMENT - Trading deriv

RISK MANAGEMENT - Trading derivatives (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure Of Financial Risk Management Explanatory [Line Items]
Trading assets			$ 768,686	$ 328,392
Trading liabilities	$ 249.7		811,305	298,665	[2]
Trading Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional Amount			31,237,110	29,015,306
Trading liabilities			811,305	298,665
Trading Derivatives | Central counterparties [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional Amount			1,977,284	5,324,037
Trading liabilities			32
Trading Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional Amount			34,950,958	31,835,928
Trading assets			768,686	328,392
Trading Derivatives | Central counterparties [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional Amount			$ 5,997,311	$ 4,558,472
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

RISK MANAGEMENT - Hedging deriv

RISK MANAGEMENT - Hedging derivatives (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure Of Financial Risk Management Explanatory [Line Items]
Hedging derivatives assets	$ 9.3		$ 30,138	$ 55,261	[2]
Hedging derivatives liabilities	$ 60.2		195,539	13,464	[2]
Hedging Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional Amount			8,722,602	3,377,903
Hedging derivatives liabilities			195,539	13,464
Hedging Derivatives | Central counterparties [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional Amount			4,601,646	1,541,236
Hedging Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional Amount			2,493,849	4,233,151
Hedging derivatives assets			30,138	55,261
Hedging Derivatives | Central counterparties [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional Amount			$ 1,280,402	$ 1,632,248
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

RISK MANAGEMENT - Mitigation Of

RISK MANAGEMENT - Mitigation Of Credit Risk, Collateral and Other (Details) - Mortgage - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit exposure	$ 18,592,103	$ 16,151,299
Less than 50%
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit exposure	6,414,097	5,243,564
51 - 70%
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit exposure	6,678,883	5,912,568
71 - 90%
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit exposure	4,890,501	4,412,544
91 - 100%
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit exposure	426,810	419,521
More than 100%
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit exposure	181,812	163,102
Credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit exposure	423,851	314,469
Credit-impaired | Less than 50%
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit exposure	99,462	74,258
Credit-impaired | 51 - 70%
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit exposure	146,568	108,222
Credit-impaired | More than 70%
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit exposure	$ 177,821	$ 131,990

RISK MANAGEMENT - Credit portfo

RISK MANAGEMENT - Credit portfolio per type of guarantees received (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost	$ 54,429.4		$ 176,881,841	$ 166,372,776	[2]
Unsecured credits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			97,363,628	93,975,396
Loans secured by other banks
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			375,608	359,649
Collateralized Mortgages
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			17,784,007	15,964,641
Other real estate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			17,494,222	14,501,452
Investments in equity instruments
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			502,961	434,118
Deposits in cash or cash equivalents
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,303,686	2,314,903
Pledges
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			9,097,268	9,611,717
Other assetss
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			10,580,214	8,318,159
Leased machineries and vehicles
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			9,221,950	9,151,139
Fiduciary agreements, stand by letters and guarantee funds
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			9,884,630	8,697,559
Pledged income
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			3,273,667	3,044,043
Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			176,881,841	166,372,776
Commercial | Unsecured credits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			49,721,150	51,074,506
Commercial | Loans secured by other banks
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			362,128	350,562
Commercial | Collateralized Mortgages
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			506,687	865,857
Commercial | Other real estate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			15,943,414	13,126,277
Commercial | Investments in equity instruments
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			502,408	433,041
Commercial | Deposits in cash or cash equivalents
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,147,457	2,172,911
Commercial | Pledges
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			3,316,543	3,859,626
Commercial | Other assetss
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			8,470,792	6,491,968
Commercial | Fiduciary agreements, stand by letters and guarantee funds
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			9,316,479	8,129,469
Commercial | Pledged income
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			3,262,967	3,032,277
Commercial | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			92,550,025	89,536,494
Consumer
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			55,200,581	50,156,131
Consumer | Unsecured credits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			47,305,167	42,566,151
Consumer | Loans secured by other banks
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			7,378	4,284
Consumer | Collateralized Mortgages
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			68,191	62,174
Consumer | Other real estate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,428,950	1,248,808
Consumer | Investments in equity instruments
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			553	1,077
Consumer | Deposits in cash or cash equivalents
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			156,229	141,891
Consumer | Pledges
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			5,773,201	5,728,752
Consumer | Other assetss
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			422,093	366,524
Consumer | Fiduciary agreements, stand by letters and guarantee funds
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			38,516	36,204
Consumer | Pledged income
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			303	266
Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			55,200,581	50,156,131
Mortgage
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			17,279,362	15,103,533
Mortgage | Unsecured credits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			3,572	6,859
Mortgage | Collateralized Mortgages
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			17,200,445	15,025,672
Mortgage | Other real estate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			4,432	4,290
Mortgage | Pledges
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			477	1,597
Mortgage | Other assetss
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			262	843
Mortgage | Fiduciary agreements, stand by letters and guarantee funds
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			70,174	64,250
Mortgage | Pledged income
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost				22
Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			17,279,362	15,103,533
Microcredit
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			425,697	409,688
Microcredit | Unsecured credits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			289,518	275,701
Microcredit | Collateralized Mortgages
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			4,040	4,811
Microcredit | Other real estate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			542	1,168
Microcredit | Deposits in cash or cash equivalents
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost				101
Microcredit | Pledges
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			668	1,290
Microcredit | Other assetss
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			32,983	23,919
Microcredit | Fiduciary agreements, stand by letters and guarantee funds
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			97,946	102,698
Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			425,697	409,688
Finance Leases | Unsecured credits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			44,221	52,179
Finance Leases | Loans secured by other banks
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			6,102	4,803
Finance Leases | Collateralized Mortgages
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			4,644	6,127
Finance Leases | Other real estate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			116,884	120,909
Finance Leases | Pledges
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			6,379	20,452
Finance Leases | Other assetss
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,654,084	1,434,905
Finance Leases | Leased machineries and vehicles
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			9,221,950	9,151,139
Finance Leases | Fiduciary agreements, stand by letters and guarantee funds
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			361,515	364,938
Finance Leases | Pledged income
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			10,397	11,478
Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			11,426,176	11,166,930
Consumer | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			55,200,581	50,156,131
Mortgage | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			17,279,362	15,103,533
Microcredit | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			425,697	409,688
Financial Leasing | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 11,426,176	$ 11,166,930
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

RISK MANAGEMENT - Credit Risk M

RISK MANAGEMENT - Credit Risk Model - Scenario Tables (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Colombia | Scenario A
Risk Management
Inflation		3.02%
Interest rates		4.25%
GDP growth		2.35%
House prices		(1.45%)
Unemployment rate		10.13%
Colombia | Scenario B
Risk Management
Inflation		3.26%
Interest rates		4.25%
GDP growth		2.66%
House prices		1.70%
Unemployment rate		9.73%
Colombia | Scenario C
Risk Management
Inflation		3.54%
Interest rates		4.25%
GDP growth		2.84%
House prices		4.93%
Unemployment rate		9.28%
Colombia | Scenario A - forecast
Risk Management
Inflation	3.27%
Interest rates	3.75%
GDP growth	2.79%
House prices	(3.47%)
Unemployment rate	10.67%
Colombia | Scenario B - forecast
Risk Management
Inflation	3.68%
Interest rates	5.00%
GDP growth	3.21%
House prices	2.81%
Unemployment rate	9.55%
Colombia | Scenario C - forecast
Risk Management
Inflation	4.14%
Interest rates	5.25%
GDP growth	4.24%
House prices	7.37%
Unemployment rate	8.48%
Guatemala | Scenario A - forecast
Risk Management
Inflation	3.23%
Interest rates	0.30%
GDP growth	2.76%
Exchange Rate	1.12%
Guatemala | Scenario B - forecast
Risk Management
Inflation	5.16%
Interest rates	(0.15%)
GDP growth	3.54%
Exchange Rate	0.32%
Guatemala | Scenario C - forecast
Risk Management
Inflation	6.67%
Interest rates	0.47%
GDP growth	2.33%
Exchange Rate	1.43%
Honduras | Scenario A - forecast
Risk Management
Inflation	4.69%
Interest rates	0.30%
GDP growth	3.46%
Exchange Rate	4.15%
Honduras | Scenario B - forecast
Risk Management
Inflation	4.22%
Interest rates	(1.49%)
GDP growth	4.41%
Exchange Rate	3.92%
Honduras | Scenario C - forecast
Risk Management
Inflation	5.02%
Interest rates	0.20%
GDP growth	3.17%
Exchange Rate	4.35%
El Salvador | Scenario A - forecast
Risk Management
Inflation	1.40%
Interest rates	0.11%
GDP growth	2.50%
El Salvador | Scenario B - forecast
Risk Management
Inflation	5.94%
Interest rates	0.21%
GDP growth	4.64%
El Salvador | Scenario C - forecast
Risk Management
Inflation	1.40%
Interest rates	0.24%
GDP growth	1.34%
Nicaragua | Scenario A - forecast
Risk Management
Inflation	2.68%
Interest rates	0.63%
GDP growth	1.32%
Exchange Rate	5.68%
Nicaragua | Scenario B - forecast
Risk Management
Inflation	6.62%
Interest rates	1.69%
GDP growth	(3.64%)
Exchange Rate	7.00%
Nicaragua | Scenario C - forecast
Risk Management
Inflation	9.08%
Interest rates	1.04%
GDP growth	(6.78%)
Exchange Rate	6.26%
Costa Rica | Scenario A - forecast
Risk Management
Inflation	2.20%
Interest rates	0.20%
GDP growth	3.30%
Exchange Rate	1.71%
Costa Rica | Scenario B - forecast
Risk Management
Inflation	3.62%
Interest rates	7.72%
GDP growth	2.11%
Exchange Rate	6.43%
Costa Rica | Scenario C - forecast
Risk Management
Inflation	11.41%
Interest rates	9.63%
GDP growth	(0.95%)
Exchange Rate	18.35%
Panama | Scenario A - forecast
Risk Management
Inflation	1.79%
Interest rates	0.44%
GDP growth	2.16%
Panama | Scenario B - forecast
Risk Management
Inflation	2.00%
Interest rates	0.11%
GDP growth	4.60%
Panama | Scenario C - forecast
Risk Management
Inflation	3.68%
Interest rates	0.45%
GDP growth	4.85%

RISK MANAGEMENT - Credit Risk_2

RISK MANAGEMENT - Credit Risk Model - Loss allowance (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	Dec. 31, 2015COP ($)
Risk Management
Loan allowance	$ 2,522.1		$ 8,196,187	$ 5,618,481	[2]	$ 4,261,444	$ 3,718,324
Commercial loans
Risk Management
Loan allowance			3,937,449	2,659,322		1,814,944	1,679,229
Consumer
Risk Management
Loan allowance			3,442,311	2,456,791		2,022,825	1,679,147
Mortgage
Risk Management
Loan allowance			257,243	130,882		124,100	95,102
Microcredit
Risk Management
Loan allowance			88,177	74,167		63,137	49,206
Financial Leasing
Risk Management
Loan allowance			471,007	297,319		$ 236,438	$ 215,640
Total loan impairment provision [member]
Risk Management
Loan allowance			8,611,594	5,946,726
Total loan impairment provision [member] | Simplified approach
Risk Management
Loan allowance			159,303
Loan Commitments and Financial Guarantee Contracts
Risk Management
Loan allowance			59,428	29,675
Financial assets at amortised cost, category [member] | Total loan impairment provision [member]
Risk Management
Loan allowance			8,453,149	5,845,343
Financial assets at amortised cost, category [member] | Total loan impairment provision [member] | Simplified approach
Risk Management
Loan allowance			159,303
Financial assets at amortised cost, category [member] | Debt securities
Risk Management
Loan allowance			71
Financial assets at amortised cost, category [member] | Other Accounts Receivable
Risk Management
Loan allowance			256,891	226,862
Financial assets at amortised cost, category [member] | Other Accounts Receivable | Simplified approach
Risk Management
Loan allowance			159,303
Financial assets at fair value through other comprehensive income, category [member]
Risk Management
Loan allowance			99,017	$ 71,708
12-month ECL
Risk Management
Loan allowance			1,824,874
12-month ECL | Commercial loans
Risk Management
Loan allowance			695,728
12-month ECL | Consumer
Risk Management
Loan allowance			998,390
12-month ECL | Mortgage
Risk Management
Loan allowance			35,187
12-month ECL | Microcredit
Risk Management
Loan allowance			23,348
12-month ECL | Financial Leasing
Risk Management
Loan allowance			72,221
12-month ECL | Total loan impairment provision [member]
Risk Management
Loan allowance			1,906,117
12-month ECL | Loan Commitments and Financial Guarantee Contracts
Risk Management
Loan allowance			40,715
12-month ECL | Financial assets at amortised cost, category [member] | Total loan impairment provision [member]
Risk Management
Loan allowance			1,844,645
12-month ECL | Financial assets at amortised cost, category [member] | Debt securities
Risk Management
Loan allowance			71
12-month ECL | Financial assets at amortised cost, category [member] | Other Accounts Receivable
Risk Management
Loan allowance			19,700
12-month ECL | Financial assets at fair value through other comprehensive income, category [member]
Risk Management
Loan allowance			20,757
Lifetime ECL | Not credit-impaired
Risk Management
Loan allowance			1,197,046
Lifetime ECL | Not credit-impaired | Commercial loans
Risk Management
Loan allowance			190,633
Lifetime ECL | Not credit-impaired | Consumer
Risk Management
Loan allowance			890,556
Lifetime ECL | Not credit-impaired | Mortgage
Risk Management
Loan allowance			73,461
Lifetime ECL | Not credit-impaired | Microcredit
Risk Management
Loan allowance			11,962
Lifetime ECL | Not credit-impaired | Financial Leasing
Risk Management
Loan allowance			30,434
Lifetime ECL | Not credit-impaired | Total loan impairment provision [member]
Risk Management
Loan allowance			1,254,945
Lifetime ECL | Not credit-impaired | Loan Commitments and Financial Guarantee Contracts
Risk Management
Loan allowance			14,358
Lifetime ECL | Not credit-impaired | Financial assets at amortised cost, category [member] | Total loan impairment provision [member]
Risk Management
Loan allowance			1,208,607
Lifetime ECL | Not credit-impaired | Financial assets at amortised cost, category [member] | Other Accounts Receivable
Risk Management
Loan allowance			11,561
Lifetime ECL | Not credit-impaired | Financial assets at fair value through other comprehensive income, category [member]
Risk Management
Loan allowance			31,980
Lifetime ECL | Credit-impaired
Risk Management
Loan allowance			5,174,267
Lifetime ECL | Credit-impaired | Commercial loans
Risk Management
Loan allowance			3,051,088
Lifetime ECL | Credit-impaired | Consumer
Risk Management
Loan allowance			1,553,365
Lifetime ECL | Credit-impaired | Mortgage
Risk Management
Loan allowance			148,595
Lifetime ECL | Credit-impaired | Microcredit
Risk Management
Loan allowance			52,867
Lifetime ECL | Credit-impaired | Financial Leasing
Risk Management
Loan allowance			368,352
Lifetime ECL | Credit-impaired | Total loan impairment provision [member]
Risk Management
Loan allowance			5,291,229
Lifetime ECL | Credit-impaired | Loan Commitments and Financial Guarantee Contracts
Risk Management
Loan allowance			4,355
Lifetime ECL | Credit-impaired | Financial assets at amortised cost, category [member] | Total loan impairment provision [member]
Risk Management
Loan allowance			5,240,594
Lifetime ECL | Credit-impaired | Financial assets at amortised cost, category [member] | Other Accounts Receivable
Risk Management
Loan allowance			66,327
Lifetime ECL | Credit-impaired | Financial assets at fair value through other comprehensive income, category [member]
Risk Management
Loan allowance			$ 46,280
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

RISK MANAGEMENT - Loans individ

RISK MANAGEMENT - Loans individually evaluated for impairment (Details) - Loans assessed individually - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of loans and receivables [Line Items]
Gross Amount Registered	$ 6,651,883	$ 4,941,777
Collateral Guarantees	1,202,627	1,196,882
Allowance Recognized	2,428,132	1,491,033
Without recognized provision
Disclosure of loans and receivables [Line Items]
Gross Amount Registered	201,412	367,252
Collateral Guarantees	447,439	806,906
With recognized provision
Disclosure of loans and receivables [Line Items]
Gross Amount Registered	6,450,471	4,574,525
Collateral Guarantees	755,188	389,976
Allowance Recognized	2,428,132	1,491,033
Commercial loans
Disclosure of loans and receivables [Line Items]
Gross Amount Registered	5,873,899	4,153,165
Collateral Guarantees	638,247	471,033
Allowance Recognized	2,195,263	1,363,315
Commercial loans | Without recognized provision
Disclosure of loans and receivables [Line Items]
Gross Amount Registered	85,531	180,527
Collateral Guarantees	126,642	242,366
Commercial loans | With recognized provision
Disclosure of loans and receivables [Line Items]
Gross Amount Registered	5,788,368	3,972,638
Collateral Guarantees	511,605	228,667
Allowance Recognized	2,195,263	1,363,315
Consumer
Disclosure of loans and receivables [Line Items]
Gross Amount Registered	2,604	233
Collateral Guarantees	560
Allowance Recognized	1,813	70
Consumer | With recognized provision
Disclosure of loans and receivables [Line Items]
Gross Amount Registered	2,604	233
Collateral Guarantees	560
Allowance Recognized	1,813	70
Mortgage
Disclosure of loans and receivables [Line Items]
Gross Amount Registered		1,907
Allowance Recognized		781
Mortgage | With recognized provision
Disclosure of loans and receivables [Line Items]
Gross Amount Registered		1,907
Allowance Recognized		781
Financial Leasing
Disclosure of loans and receivables [Line Items]
Gross Amount Registered	775,380	786,472
Collateral Guarantees	563,820	725,849
Allowance Recognized	231,056	126,867
Financial Leasing | Without recognized provision
Disclosure of loans and receivables [Line Items]
Gross Amount Registered	115,881	186,725
Collateral Guarantees	320,797	564,540
Financial Leasing | With recognized provision
Disclosure of loans and receivables [Line Items]
Gross Amount Registered	659,499	599,747
Collateral Guarantees	243,023	161,309
Allowance Recognized	$ 231,056	$ 126,867

RISK MANAGEMENT - Credit Risk_3

RISK MANAGEMENT - Credit Risk Model - Loan portfolio (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	$ 222,154,907
Exchange differences		$ 3,150	$ (34,656)
Financial assets at end of period	245,105,338	222,154,907
Increase (decrease) due to application of IFRS 9 | Simplified approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	9,338
Financial assets at end of period		9,338
Accumulated impairment | Simplified approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	137,431
Write-offs	(47,309)
Entity deconsolidation	6,731
Recovery for partial payments from the clients	(12,373)
Financial assets at end of period	159,303	137,431
Accumulated impairment | Increase (decrease) due to application of IFRS 9 | Simplified approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	146,769
Financial assets at end of period		146,769
Loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	(6,400)
Loan portfolio | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	1,163,009
Financial assets at end of period		1,163,009
Loan portfolio | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	5,618,481
Net remeasurement of loss allowance	3,851,325
New financial assets originated or purchased	1,322,065
Decrease through derecognition, financial assets	(1,069,705)
Unwind of discount	381,983
FX and other movements	75,712
Write-offs	(3,148,990)
Entity deconsolidation	2,307
Financial assets at end of period	8,196,187	5,618,481
Loan portfolio | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	6,781,490
Financial assets at end of period		6,781,490
Loan portfolio | 12-month ECL
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	(8,520)
Loan portfolio | 12-month ECL | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	490,117
Financial assets at end of period		490,117
Loan portfolio | 12-month ECL | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	1,227,363
Transfer from stage 1 to stage 2	(255,031)
Transfer from stage 1 to stage 3	(214,542)
Transfer from stage 2 to stage 1	314,668
Transfer from stage 3 to stage 1	183,733
Net remeasurement of loss allowance	(90,021)
New financial assets originated or purchased	1,011,984
Decrease through derecognition, financial assets	(568,424)
Unwind of discount	32,674
FX and other movements	4,703
Write-offs	(312,350)
Financial assets at end of period	1,824,874	1,227,363
Loan portfolio | 12-month ECL | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	1,717,480
Financial assets at end of period		1,717,480
Loan portfolio | Lifetime ECL | Not credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	1,997
Loan portfolio | Lifetime ECL | Not credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	596,737
Financial assets at end of period		596,737
Loan portfolio | Lifetime ECL | Not credit-impaired | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	583,584
Transfer from stage 1 to stage 2	255,031
Transfer from stage 2 to stage 3	(631,932)
Transfer from stage 3 to stage 2	107,331
Transfer from stage 2 to stage 1	(314,668)
Net remeasurement of loss allowance	746,773
New financial assets originated or purchased	156,320
Decrease through derecognition, financial assets	(177,729)
Unwind of discount	(3,809)
Write-offs	(120,592)
Financial assets at end of period	1,197,046	583,584
Loan portfolio | Lifetime ECL | Not credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	1,180,321
Financial assets at end of period		1,180,321
Loan portfolio | Lifetime ECL | Credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	123
Loan portfolio | Lifetime ECL | Credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	76,155
Financial assets at end of period		76,155
Loan portfolio | Lifetime ECL | Credit-impaired | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	3,807,534
Transfer from stage 1 to stage 3	214,542
Transfer from stage 2 to stage 3	631,932
Transfer from stage 3 to stage 2	(107,331)
Transfer from stage 3 to stage 1	(183,733)
Net remeasurement of loss allowance	3,194,573
New financial assets originated or purchased	153,761
Decrease through derecognition, financial assets	(323,552)
Unwind of discount	353,118
FX and other movements	71,009
Write-offs	(2,716,048)
Entity deconsolidation	2,307
Financial assets at end of period	5,174,267	3,807,534
Loan portfolio | Lifetime ECL | Credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	3,883,689
Financial assets at end of period		3,883,689
Loan Commercial portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	42,723
Loan Commercial portfolio | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	257,073
Financial assets at end of period		257,073
Loan Commercial portfolio | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	2,659,322
Net remeasurement of loss allowance	1,016,637
New financial assets originated or purchased	525,163
Decrease through derecognition, financial assets	(370,151)
Unwind of discount	268,874
FX and other movements	17,805
Write-offs	(437,274)
Financial assets at end of period	3,937,449	2,659,322
Loan Commercial portfolio | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	2,916,395
Financial assets at end of period		2,916,395
Loan Commercial portfolio | 12-month ECL
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	34,411
Loan Commercial portfolio | 12-month ECL | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	122,996
Financial assets at end of period		122,996
Loan Commercial portfolio | 12-month ECL | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	492,561
Transfer from stage 1 to stage 2	(26,155)
Transfer from stage 1 to stage 3	(57,241)
Transfer from stage 2 to stage 1	65,954
Transfer from stage 3 to stage 1	30,590
Net remeasurement of loss allowance	(150,806)
New financial assets originated or purchased	419,719
Decrease through derecognition, financial assets	(221,935)
Unwind of discount	31,974
FX and other movements	4,707
Write-offs	(16,636)
Financial assets at end of period	695,728	492,561
Loan Commercial portfolio | 12-month ECL | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	615,557
Financial assets at end of period		615,557
Loan Commercial portfolio | Lifetime ECL | Not credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	(8,050)
Loan Commercial portfolio | Lifetime ECL | Not credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	100,438
Financial assets at end of period		100,438
Loan Commercial portfolio | Lifetime ECL | Not credit-impaired | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	91,930
Transfer from stage 1 to stage 2	26,155
Transfer from stage 2 to stage 3	(141,368)
Transfer from stage 3 to stage 2	17,836
Transfer from stage 2 to stage 1	(65,954)
Net remeasurement of loss allowance	153,621
New financial assets originated or purchased	37,317
Decrease through derecognition, financial assets	(24,707)
Unwind of discount	(2,615)
Write-offs	(2,020)
Financial assets at end of period	190,633	91,930
Loan Commercial portfolio | Lifetime ECL | Not credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	192,368
Financial assets at end of period		192,368
Loan Commercial portfolio | Lifetime ECL | Credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	16,362
Loan Commercial portfolio | Lifetime ECL | Credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	33,639
Financial assets at end of period		33,639
Loan Commercial portfolio | Lifetime ECL | Credit-impaired | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	2,074,831
Transfer from stage 1 to stage 3	57,241
Transfer from stage 2 to stage 3	141,368
Transfer from stage 3 to stage 2	(17,836)
Transfer from stage 3 to stage 1	(30,590)
Net remeasurement of loss allowance	1,013,822
New financial assets originated or purchased	68,127
Decrease through derecognition, financial assets	(123,509)
Unwind of discount	239,515
FX and other movements	13,098
Write-offs	(418,618)
Financial assets at end of period	3,051,088	2,074,831
Loan Commercial portfolio | Lifetime ECL | Credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	2,108,470
Financial assets at end of period		2,108,470
Loan Consumer portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	(38,444)
Loan Consumer portfolio | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	795,778
Financial assets at end of period		795,778
Loan Consumer portfolio | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	2,456,791
Net remeasurement of loss allowance	2,452,598
New financial assets originated or purchased	732,106
Decrease through derecognition, financial assets	(600,920)
Unwind of discount	80,174
FX and other movements	52,800
Write-offs	(2,527,016)
Financial assets at end of period	3,442,311	2,456,791
Loan Consumer portfolio | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	3,252,569
Financial assets at end of period		3,252,569
Loan Consumer portfolio | 12-month ECL
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	(51,642)
Loan Consumer portfolio | 12-month ECL | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	336,656
Financial assets at end of period		336,656
Loan Consumer portfolio | 12-month ECL | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	656,042
Transfer from stage 1 to stage 2	(209,235)
Transfer from stage 1 to stage 3	(149,571)
Transfer from stage 2 to stage 1	209,168
Transfer from stage 3 to stage 1	137,887
Net remeasurement of loss allowance	78,253
New financial assets originated or purchased	543,690
Decrease through derecognition, financial assets	(315,442)
Unwind of discount	474
FX and other movements	(7)
Write-offs	(289,525)
Financial assets at end of period	998,390	656,042
Loan Consumer portfolio | 12-month ECL | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	992,698
Financial assets at end of period		992,698
Loan Consumer portfolio | Lifetime ECL | Not credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	20,671
Loan Consumer portfolio | Lifetime ECL | Not credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	426,136
Financial assets at end of period		426,136
Loan Consumer portfolio | Lifetime ECL | Not credit-impaired | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	446,698
Transfer from stage 1 to stage 2	209,235
Transfer from stage 2 to stage 3	(432,509)
Transfer from stage 3 to stage 2	77,046
Transfer from stage 2 to stage 1	(209,168)
Net remeasurement of loss allowance	518,410
New financial assets originated or purchased	113,235
Decrease through derecognition, financial assets	(139,703)
Unwind of discount	(514)
Write-offs	(118,310)
Financial assets at end of period	890,556	446,698
Loan Consumer portfolio | Lifetime ECL | Not credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	872,834
Financial assets at end of period		872,834
Loan Consumer portfolio | Lifetime ECL | Credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	(7,473)
Loan Consumer portfolio | Lifetime ECL | Credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	32,986
Financial assets at end of period		32,986
Loan Consumer portfolio | Lifetime ECL | Credit-impaired | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	1,354,051
Transfer from stage 1 to stage 3	149,571
Transfer from stage 2 to stage 3	432,509
Transfer from stage 3 to stage 2	(77,046)
Transfer from stage 3 to stage 1	(137,887)
Net remeasurement of loss allowance	1,855,935
New financial assets originated or purchased	75,181
Decrease through derecognition, financial assets	(145,775)
Unwind of discount	80,214
FX and other movements	52,807
Write-offs	(2,119,181)
Financial assets at end of period	1,553,365	1,354,051
Loan Consumer portfolio | Lifetime ECL | Credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	1,387,037
Financial assets at end of period		1,387,037
Loan Mortgage portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	(10,543)
Loan Mortgage portfolio | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	56,196
Financial assets at end of period		56,196
Loan Mortgage portfolio | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	130,882
Net remeasurement of loss allowance	115,037
New financial assets originated or purchased	11,093
Decrease through derecognition, financial assets	(19,259)
Unwind of discount	4,548
FX and other movements	4,946
Write-offs	(46,200)
Financial assets at end of period	257,243	130,882
Loan Mortgage portfolio | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	187,078
Financial assets at end of period		187,078
Loan Mortgage portfolio | 12-month ECL
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	2,543
Loan Mortgage portfolio | 12-month ECL | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	6,227
Financial assets at end of period		6,227
Loan Mortgage portfolio | 12-month ECL | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	14,501
Transfer from stage 1 to stage 2	(7,711)
Transfer from stage 1 to stage 3	(1,558)
Transfer from stage 2 to stage 1	20,072
Transfer from stage 3 to stage 1	2,749
Net remeasurement of loss allowance	(3,510)
New financial assets originated or purchased	8,999
Decrease through derecognition, financial assets	(4,131)
Unwind of discount	110
Write-offs	(561)
Financial assets at end of period	35,187	14,501
Loan Mortgage portfolio | 12-month ECL | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	20,728
Financial assets at end of period		20,728
Loan Mortgage portfolio | Lifetime ECL | Not credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	(4,263)
Loan Mortgage portfolio | Lifetime ECL | Not credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	41,690
Financial assets at end of period		41,690
Loan Mortgage portfolio | Lifetime ECL | Not credit-impaired | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	20,032
Transfer from stage 1 to stage 2	7,711
Transfer from stage 2 to stage 3	(21,022)
Transfer from stage 3 to stage 2	6,872
Transfer from stage 2 to stage 1	(20,072)
Net remeasurement of loss allowance	45,162
New financial assets originated or purchased	2,047
Decrease through derecognition, financial assets	(8,742)
Unwind of discount	(143)
Write-offs	(74)
Financial assets at end of period	73,461	20,032
Loan Mortgage portfolio | Lifetime ECL | Not credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	61,722
Financial assets at end of period		61,722
Loan Mortgage portfolio | Lifetime ECL | Credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	(8,823)
Loan Mortgage portfolio | Lifetime ECL | Credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	8,279
Financial assets at end of period		8,279
Loan Mortgage portfolio | Lifetime ECL | Credit-impaired | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	96,349
Transfer from stage 1 to stage 3	1,558
Transfer from stage 2 to stage 3	21,022
Transfer from stage 3 to stage 2	(6,872)
Transfer from stage 3 to stage 1	(2,749)
Net remeasurement of loss allowance	73,385
New financial assets originated or purchased	47
Decrease through derecognition, financial assets	(6,386)
Unwind of discount	4,581
FX and other movements	4,946
Write-offs	(45,565)
Financial assets at end of period	148,595	96,349
Loan Mortgage portfolio | Lifetime ECL | Credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	104,628
Financial assets at end of period		104,628
Loan Microcredit portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	74,167
Net remeasurement of loss allowance	21,732
New financial assets originated or purchased	16,721
Decrease through derecognition, financial assets	(3,858)
Unwind of discount	7,988
Write-offs	(39,691)
Financial assets at end of period	88,177	74,167
Impact of the measurement of ECL	(4,750)
Loan Microcredit portfolio | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	85,285
Financial assets at end of period		85,285
Loan Microcredit portfolio | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	11,118
Financial assets at end of period		11,118
Loan Microcredit portfolio | 12-month ECL
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	21,421
Transfer from stage 1 to stage 2	(8,298)
Transfer from stage 1 to stage 3	(2,599)
Transfer from stage 2 to stage 1	6,305
Transfer from stage 3 to stage 1	6,062
Net remeasurement of loss allowance	(8,285)
New financial assets originated or purchased	16,095
Decrease through derecognition, financial assets	(2,397)
Unwind of discount	103
Write-offs	(5,584)
Financial assets at end of period	23,348	21,421
Impact of the measurement of ECL	541
Loan Microcredit portfolio | 12-month ECL | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	21,946
Financial assets at end of period		21,946
Loan Microcredit portfolio | 12-month ECL | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	525
Financial assets at end of period		525
Loan Microcredit portfolio | Lifetime ECL | Not credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	7,477
Transfer from stage 1 to stage 2	8,298
Transfer from stage 2 to stage 3	(30,052)
Transfer from stage 3 to stage 2	1,961
Transfer from stage 2 to stage 1	(6,305)
Net remeasurement of loss allowance	20,392
New financial assets originated or purchased	626
Decrease through derecognition, financial assets	(600)
Unwind of discount	(381)
Write-offs	(45)
Financial assets at end of period	11,962	7,477
Impact of the measurement of ECL	(5,338)
Loan Microcredit portfolio | Lifetime ECL | Not credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	18,068
Financial assets at end of period		18,068
Loan Microcredit portfolio | Lifetime ECL | Not credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	10,591
Financial assets at end of period		10,591
Loan Microcredit portfolio | Lifetime ECL | Credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	45,269
Transfer from stage 1 to stage 3	2,599
Transfer from stage 2 to stage 3	30,052
Transfer from stage 3 to stage 2	(1,961)
Transfer from stage 3 to stage 1	(6,062)
Net remeasurement of loss allowance	9,625
Decrease through derecognition, financial assets	(861)
Unwind of discount	8,266
Write-offs	(34,062)
Financial assets at end of period	52,867	45,269
Impact of the measurement of ECL	47
Loan Microcredit portfolio | Lifetime ECL | Credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	45,271
Financial assets at end of period		45,271
Loan Microcredit portfolio | Lifetime ECL | Credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	2
Financial assets at end of period		2
Loan Financial Leasing portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	297,319
Net remeasurement of loss allowance	245,321
New financial assets originated or purchased	36,982
Decrease through derecognition, financial assets	(75,517)
Unwind of discount	20,399
FX and other movements	161
Write-offs	(98,809)
Entity deconsolidation	2,307
Financial assets at end of period	471,007	297,319
Impact of the measurement of ECL	4,614
Loan Financial Leasing portfolio | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	340,163
Financial assets at end of period		340,163
Loan Financial Leasing portfolio | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	42,844
Financial assets at end of period		42,844
Loan Financial Leasing portfolio | 12-month ECL
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	42,838
Transfer from stage 1 to stage 2	(3,632)
Transfer from stage 1 to stage 3	(3,573)
Transfer from stage 2 to stage 1	13,169
Transfer from stage 3 to stage 1	6,445
Net remeasurement of loss allowance	(5,673)
New financial assets originated or purchased	23,481
Decrease through derecognition, financial assets	(24,519)
Unwind of discount	13
FX and other movements	3
Write-offs	(44)
Financial assets at end of period	72,221	42,838
Impact of the measurement of ECL	5,627
Loan Financial Leasing portfolio | 12-month ECL | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	66,551
Financial assets at end of period		66,551
Loan Financial Leasing portfolio | 12-month ECL | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	23,713
Financial assets at end of period		23,713
Loan Financial Leasing portfolio | Lifetime ECL | Not credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	17,447
Transfer from stage 1 to stage 2	3,632
Transfer from stage 2 to stage 3	(6,981)
Transfer from stage 3 to stage 2	3,616
Transfer from stage 2 to stage 1	(13,169)
Net remeasurement of loss allowance	9,188
New financial assets originated or purchased	3,095
Decrease through derecognition, financial assets	(3,977)
Unwind of discount	(156)
Write-offs	(143)
Financial assets at end of period	30,434	17,447
Impact of the measurement of ECL	(1,023)
Loan Financial Leasing portfolio | Lifetime ECL | Not credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	35,329
Financial assets at end of period		35,329
Loan Financial Leasing portfolio | Lifetime ECL | Not credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	17,882
Financial assets at end of period		17,882
Loan Financial Leasing portfolio | Lifetime ECL | Credit-impaired
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	237,034
Transfer from stage 1 to stage 3	3,573
Transfer from stage 2 to stage 3	6,981
Transfer from stage 3 to stage 2	(3,616)
Transfer from stage 3 to stage 1	(6,445)
Net remeasurement of loss allowance	241,806
New financial assets originated or purchased	10,406
Decrease through derecognition, financial assets	(47,021)
Unwind of discount	20,542
FX and other movements	158
Write-offs	(98,622)
Entity deconsolidation	2,307
Financial assets at end of period	368,352	237,034
Impact of the measurement of ECL	10
Loan Financial Leasing portfolio | Lifetime ECL | Credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	238,283
Financial assets at end of period		238,283
Loan Financial Leasing portfolio | Lifetime ECL | Credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	1,249
Financial assets at end of period		1,249
Financial assets at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	198
Financial assets at fair value through other comprehensive income, category [member] | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	56,198
Financial assets at end of period		56,198
Financial assets at fair value through other comprehensive income, category [member] | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	71,708
Net remeasurement of loss allowance	15,769
New financial assets originated or purchased	12,468
Decrease through derecognition, financial assets	(60,046)
FX and other movements	2,920
Financial assets at end of period	99,017	71,708
Financial assets at fair value through other comprehensive income, category [member] | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	127,906
Financial assets at end of period		127,906
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	198
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	18,665
Financial assets at end of period		18,665
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Transfer from stage 1 to stage 2	(272)
Net remeasurement of loss allowance	(2,361)
New financial assets originated or purchased	12,018
Decrease through derecognition, financial assets	(7,937)
FX and other movements	644
Financial assets at end of period	20,757
Financial assets at fair value through other comprehensive income, category [member] | 12-month ECL | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	18,665
Financial assets at end of period		18,665
Financial assets at fair value through other comprehensive income, category [member] | Lifetime ECL | Not credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	31,714
Financial assets at end of period		31,714
Financial assets at fair value through other comprehensive income, category [member] | Lifetime ECL | Not credit-impaired | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Transfer from stage 1 to stage 2	272
Net remeasurement of loss allowance	(28)
New financial assets originated or purchased	450
Decrease through derecognition, financial assets	(2,688)
FX and other movements	2,260
Financial assets at end of period	31,980
Financial assets at fair value through other comprehensive income, category [member] | Lifetime ECL | Not credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	31,714
Financial assets at end of period		31,714
Financial assets at fair value through other comprehensive income, category [member] | Lifetime ECL | Credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	5,819
Financial assets at end of period		5,819
Financial assets at fair value through other comprehensive income, category [member] | Lifetime ECL | Credit-impaired | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	71,708
Net remeasurement of loss allowance	18,158
Decrease through derecognition, financial assets	(49,421)
FX and other movements	16
Financial assets at end of period	46,280	71,708
Financial assets at fair value through other comprehensive income, category [member] | Lifetime ECL | Credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	77,527
Financial assets at end of period		77,527
Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	3
Financial assets at amortised cost, category [member] | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	672
Financial assets at end of period		672
Financial assets at amortised cost, category [member] | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Net remeasurement of loss allowance	(90)
New financial assets originated or purchased	59
Decrease through derecognition, financial assets	(667)
FX and other movements	97
Financial assets at end of period	71
Financial assets at amortised cost, category [member] | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	672
Financial assets at end of period		672
Financial assets at amortised cost, category [member] | 12-month ECL
Disclosure Of Financial Risk Management Explanatory [Line Items]
Impact of the measurement of ECL	3
Financial assets at amortised cost, category [member] | 12-month ECL | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	672
Financial assets at end of period		672
Financial assets at amortised cost, category [member] | 12-month ECL | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Net remeasurement of loss allowance	(90)
New financial assets originated or purchased	59
Decrease through derecognition, financial assets	(667)
FX and other movements	97
Financial assets at end of period	71
Financial assets at amortised cost, category [member] | 12-month ECL | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	672
Financial assets at end of period		672
Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	6,748,745
Financial assets at end of period	9,557,534	6,748,745
Other Accounts Receivable | Increase (decrease) due to application of IFRS 9 | General approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	9,569
Financial assets at end of period		9,569
Other Accounts Receivable | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at end of period	(18,907)
Other Accounts Receivable | Accumulated impairment | General approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	89,431
Net remeasurement of loss allowance	15,259
FX and other movements	(2)
Write-offs	(16,669)
Financial assets at end of period	97,588	89,431
Other Accounts Receivable | Accumulated impairment | Increase (decrease) due to application of IFRS 9 | General approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	99,000
Financial assets at end of period		99,000
Other Accounts Receivable | 12-month ECL | Increase (decrease) due to application of IFRS 9 | General approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	4,021
Financial assets at end of period		4,021
Other Accounts Receivable | 12-month ECL | Accumulated impairment | General approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	12,911
Net remeasurement of loss allowance	19,439
FX and other movements	(2)
Write-offs	(16,669)
Financial assets at end of period	19,700	12,911
Other Accounts Receivable | 12-month ECL | Accumulated impairment | Increase (decrease) due to application of IFRS 9 | General approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	16,932
Financial assets at end of period		16,932
Other Accounts Receivable | Lifetime ECL | Not credit-impaired | Increase (decrease) due to application of IFRS 9 | General approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	3,751
Financial assets at end of period		3,751
Other Accounts Receivable | Lifetime ECL | Not credit-impaired | Accumulated impairment | General approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	5,909
Net remeasurement of loss allowance	1,901
Financial assets at end of period	11,561	5,909
Other Accounts Receivable | Lifetime ECL | Not credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9 | General approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	9,660
Financial assets at end of period		9,660
Other Accounts Receivable | Lifetime ECL | Credit-impaired | Increase (decrease) due to application of IFRS 9 | General approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	1,797
Financial assets at end of period		1,797
Other Accounts Receivable | Lifetime ECL | Credit-impaired | Accumulated impairment | General approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	70,611
Net remeasurement of loss allowance	(6,081)
Financial assets at end of period	66,327	70,611
Other Accounts Receivable | Lifetime ECL | Credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9 | General approach
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	72,408
Financial assets at end of period		72,408
Loan Commitments and Financial Guarantee Contracts | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	16,217
Financial assets at end of period		16,217
Loan Commitments and Financial Guarantee Contracts | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	29,675
Net remeasurement of loss allowance	8,794
New financial assets originated or purchased	4,572
FX and other movements	170
Financial assets at end of period	59,428	29,675
Loan Commitments and Financial Guarantee Contracts | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	45,892
Financial assets at end of period		45,892
Loan Commitments and Financial Guarantee Contracts | 12-month ECL | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	13,381
Financial assets at end of period		13,381
Loan Commitments and Financial Guarantee Contracts | 12-month ECL | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	23,922
Transfer from stage 1 to stage 2	(2,350)
Transfer from stage 1 to stage 3	(2,167)
Transfer from stage 2 to stage 1	1,816
Transfer from stage 3 to stage 1	26
Net remeasurement of loss allowance	2,732
New financial assets originated or purchased	3,186
FX and other movements	169
Financial assets at end of period	40,715	23,922
Loan Commitments and Financial Guarantee Contracts | 12-month ECL | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	37,303
Financial assets at end of period		37,303
Loan Commitments and Financial Guarantee Contracts | Lifetime ECL | Not credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	3,085
Financial assets at end of period		3,085
Loan Commitments and Financial Guarantee Contracts | Lifetime ECL | Not credit-impaired | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	1,719
Transfer from stage 1 to stage 2	2,350
Transfer from stage 2 to stage 3	(156)
Transfer from stage 3 to stage 2	13
Transfer from stage 2 to stage 1	(1,816)
Net remeasurement of loss allowance	11,071
New financial assets originated or purchased	(1,909)
FX and other movements	1
Financial assets at end of period	14,358	1,719
Loan Commitments and Financial Guarantee Contracts | Lifetime ECL | Not credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	4,804
Financial assets at end of period		4,804
Loan Commitments and Financial Guarantee Contracts | Lifetime ECL | Credit-impaired | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	(249)
Financial assets at end of period		(249)
Loan Commitments and Financial Guarantee Contracts | Lifetime ECL | Credit-impaired | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	4,034
Transfer from stage 1 to stage 3	2,167
Transfer from stage 2 to stage 3	156
Transfer from stage 3 to stage 2	(13)
Transfer from stage 3 to stage 1	(26)
Net remeasurement of loss allowance	(5,009)
New financial assets originated or purchased	3,295
Financial assets at end of period	4,355	4,034
Loan Commitments and Financial Guarantee Contracts | Lifetime ECL | Credit-impaired | Accumulated impairment | Increase (decrease) due to application of IFRS 9
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets at beginning of period	$ 3,785
Financial assets at end of period		$ 3,785

RISK MANAGEMENT - Movement of t

RISK MANAGEMENT - Movement of the impairment provision of the financial assets (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2017		Dec. 31, 2016
Disclosure of loans and receivables [Line Items]
Beginning balance	$ 4,261,444		$ 3,718,324
Allowance of the period charged to profit or loss	5,596,856		4,984,501
Recovery of provisions with partial payment to profit or loss	(1,534,924)		(2,051,738)
Charge-offs of the year	(2,683,542)		(2,354,987)
Sale of portfolio	(24,503)
Exchange differences	3,150		(34,656)
Ending balance	5,618,481	[1]	4,261,444
Commercial loans
Disclosure of loans and receivables [Line Items]
Beginning balance	1,814,944		1,679,229
Allowance of the period charged to profit or loss	1,825,905		1,522,077
Recovery of provisions with partial payment to profit or loss	(584,091)		(857,465)
Charge-offs of the year	(400,653)		(495,326)
Exchange differences	3,217		(33,571)
Ending balance	2,659,322		1,814,944
Consumer
Disclosure of loans and receivables [Line Items]
Beginning balance	2,022,825		1,679,147
Allowance of the period charged to profit or loss	3,403,092		3,088,950
Recovery of provisions with partial payment to profit or loss	(780,874)		(976,258)
Charge-offs of the year	(2,165,857)		(1,759,896)
Sale of portfolio	(24,503)
Exchange differences	2,108		(9,118)
Ending balance	2,456,791		2,022,825
Mortgage
Disclosure of loans and receivables [Line Items]
Beginning balance	124,100		95,102
Allowance of the period charged to profit or loss	81,189		75,059
Recovery of provisions with partial payment to profit or loss	(28,051)		(37,863)
Charge-offs of the year	(45,918)		(15,828)
Exchange differences	(438)		7,630
Ending balance	130,882		124,100
Financial Leasing
Disclosure of loans and receivables [Line Items]
Beginning balance	236,438		215,640
Allowance of the period charged to profit or loss	222,043		225,498
Recovery of provisions with partial payment to profit or loss	(112,671)		(162,033)
Charge-offs of the year	(46,754)		(55,234)
Exchange differences	(1,737)		12,567
Ending balance	297,319		236,438
Microcredit
Disclosure of loans and receivables [Line Items]
Beginning balance	63,137		49,206
Allowance of the period charged to profit or loss	64,627		72,917
Recovery of provisions with partial payment to profit or loss	(29,237)		(18,119)
Charge-offs of the year	(24,360)		(28,703)
Exchange differences			(12,164)
Ending balance	74,167		$ 63,137
Total loan impairment provision [member]
Disclosure of loans and receivables [Line Items]
Ending balance	$ 5,946,726
[1]	See note 2.32, Changes in presentation.

RISK MANAGEMENT - Credit Port_2

RISK MANAGEMENT - Credit Portfolio Assessed Collectively and Individually (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	Dec. 31, 2015COP ($)
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost	$ 54,429.4		$ 176,881,841	$ 166,372,776	[2]
Impairment provision	$ 2,522.1		8,196,187	5,618,481	[2]	$ 4,261,444	$ 3,718,324
Total gross loan portfolio
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost			176,881,841	166,372,776
Commercial loans
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost			92,550,025	89,536,494
Impairment provision			3,937,449	2,659,322		1,814,944	1,679,229
Commercial loans | Total gross loan portfolio
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost			92,550,025	89,536,494
Consumer
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost			55,200,581	50,156,131
Impairment provision			3,442,311	2,456,791		2,022,825	1,679,147
Consumer | Total gross loan portfolio
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost			55,200,581	50,156,131
Mortgage
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost			17,279,362	15,103,533
Impairment provision			257,243	130,882		124,100	95,102
Mortgage | Total gross loan portfolio
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost			17,279,362	15,103,533
Microcredit
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost			425,697	409,688
Impairment provision			88,177	74,167		63,137	49,206
Microcredit | Total gross loan portfolio
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost			425,697	409,688
Financial Leasing
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost			11,426,176	11,166,930
Impairment provision			$ 471,007	297,319		$ 236,438	$ 215,640
Loans assessed individually
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost				55,357,759
Impairment provision				1,491,033
Loans assessed individually | Commercial loans
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost				49,846,935
Impairment provision				1,363,315
Loans assessed individually | Consumer
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost				51,768
Impairment provision				70
Loans assessed individually | Mortgage
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost				14,934
Impairment provision				781
Loans assessed individually | Financial Leasing
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost				5,444,122
Impairment provision				126,867
Loans assessed collectively
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost				111,015,017
Impairment provision				4,127,448
Loans assessed collectively | Commercial loans
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost				39,689,559
Impairment provision				1,296,007
Loans assessed collectively | Consumer
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost				50,104,363
Impairment provision				2,456,721
Loans assessed collectively | Mortgage
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost				15,088,599
Impairment provision				130,101
Loans assessed collectively | Microcredit
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost				409,688
Impairment provision				74,167
Loans assessed collectively | Financial Leasing
Disclosure of loans and receivables [Line Items]
Credit portfolio at amortized cost				5,722,808
Impairment provision				$ 170,452
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

RISK MANAGEMENT - Other account

RISK MANAGEMENT - Other accounts receivable (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Simplified approach | Accumulated impairment
Disclosure Of Financial Risk Management Explanatory [Line Items]
Provision charged to profit or loss	$ 65,230
Recovery for partial payments from the clients	(12,373)
Exchange gains (losses) in foreign currency	255
Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Balance at the beginning of the year	$ 226,862	$ 195,078	$ 194,450
Provision charged to profit or loss		98,024	105,942
Recovery for partial payments from the clients		(18,383)	(32,514)
Charge-offs		(48,171)	(72,120)
Exchange gains (losses) in foreign currency		314	(680)
Balance at the end of the year		$ 226,862	$ 195,078

RISK MANAGEMENT - Concentration

RISK MANAGEMENT - Concentrations of credit risk - Concentration by sector (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)		Dec. 31, 2017COP ($)		Dec. 31, 2018COP ($)
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost	$ 54,429.4	[1]	$ 166,372,776	[2]	$ 176,881,841
Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 166,372,776		176,881,841
Loans and Receivables, Percentage	100.00%		100.00%
Consumer services | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 70,947,936		78,976,887
Loans and Receivables, Percentage	45.00%		43.00%
Commercial services | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 38,788,363		41,160,951
Loans and Receivables, Percentage	23.00%		23.00%
Construction | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 10,313,655		11,093,895
Loans and Receivables, Percentage	6.00%		7.00%
Food, beverage and tobacco | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 8,165,975		8,128,767
Loans and Receivables, Percentage	5.00%		5.00%
Transportation and communications | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 7,566,374		7,117,087
Loans and Receivables, Percentage	4.00%		5.00%
Public services | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 5,421,328		6,123,390
Loans and Receivables, Percentage	4.00%		3.00%
Chemical production | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 5,672,310		5,614,918
Loans and Receivables, Percentage	3.00%		3.00%
Other industrial and manufacturing products | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 4,469,427		4,859,538
Loans and Receivables, Percentage	3.00%		3.00%
Agricultural | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 3,940,981		4,201,518
Loans and Receivables, Percentage	2.00%		2.00%
Government | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 3,579,838		3,868,987
Loans and Receivables, Percentage	2.00%		2.00%
Trade and tourism | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 2,182,437		2,353,139
Loans and Receivables, Percentage	1.00%		1.00%
Other | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 2,946,964		2,288,046
Loans and Receivables, Percentage	1.00%		2.00%
Mining products and oil | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 2,377,188		1,094,718
Loans and Receivables, Percentage	1.00%		1.00%
Commercial loans
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 89,536,494		92,550,025
Commercial loans | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			89,536,494		92,550,025
Consumer
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			50,156,131		55,200,581
Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			50,156,131		55,200,581
Mortgage
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			15,103,533		17,279,362
Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			15,103,533		17,279,362
Microcredit
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			409,688		425,697
Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			409,688		425,697
Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 11,166,930		$ 11,426,176
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

RISK MANAGEMENT - Concentrati_2

RISK MANAGEMENT - Concentrations of credit risk - Concentration by location (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost	$ 54,429.4		$ 176,881,841	$ 166,372,776	[2]
Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			176,881,841	166,372,776
Commercial | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			92,550,025	89,536,494
Consumer
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			55,200,581	50,156,131
Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			55,200,581	50,156,131
Mortgage
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			17,279,362	15,103,533
Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			17,279,362	15,103,533
Microcredit
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			425,697	409,688
Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			425,697	409,688
Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			11,426,176	11,166,930
Colombia | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			117,172,051	111,212,631
Colombia | Commercial | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			63,694,588	61,960,497
Colombia | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			35,912,585	32,878,650
Colombia | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			6,672,612	5,674,640
Colombia | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			425,697	409,688
Colombia | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			10,466,569	10,289,156
Costa Rica | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			15,196,540	13,263,755
Costa Rica | Commercial | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			4,860,338	3,833,906
Costa Rica | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			5,190,354	4,848,689
Costa Rica | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			4,343,247	3,868,474
Costa Rica | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			802,601	712,686
Panama | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			13,574,228	12,006,527
Panama | Commercial | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			5,464,198	4,877,646
Panama | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			5,618,362	4,852,539
Panama | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			2,381,741	2,154,504
Panama | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			109,927	121,838
Guatemala | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			9,779,584	8,461,517
Guatemala | Commercial | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			5,536,851	4,807,329
Guatemala | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			2,593,606	2,264,791
Guatemala | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,617,341	1,365,197
Guatemala | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			31,786	24,200
Honduras | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			6,474,980	5,274,073
Honduras | Commercial | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			3,528,929	2,794,260
Honduras | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			2,085,005	1,736,449
Honduras | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			857,799	740,113
Honduras | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			3,247	3,251
El Salvador | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			5,827,538	4,920,496
El Salvador | Commercial | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			2,214,411	1,746,193
El Salvador | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			2,636,766	2,267,152
El Salvador | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			969,731	897,404
El Salvador | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			6,630	9,747
United States | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			4,550,268	6,434,079
United States | Commercial | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			4,549,526	6,433,333
United States | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			742	736
United States | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost				10
Nicaragua | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			3,553,004	3,944,423
Nicaragua | Commercial | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,947,643	2,228,138
Nicaragua | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			1,163,054	1,307,042
Nicaragua | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			436,891	403,191
Nicaragua | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			5,416	6,052
Other countries | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			753,648	855,275
Other countries | Commercial | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			753,541	855,192
Other countries | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 107	$ 83
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

RISK MANAGEMENT - Concentrati_3

RISK MANAGEMENT - Concentrations of credit risk - Concentration by currency (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost	$ 54,429.4		$ 176,881,841	$ 166,372,776	[2]
Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			176,881,841	166,372,776
Commercial | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			92,550,025	89,536,494
Consumer
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			55,200,581	50,156,131
Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			55,200,581	50,156,131
Mortgage
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			17,279,362	15,103,533
Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			17,279,362	15,103,533
Microcredit
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			425,697	409,688
Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			425,697	409,688
Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			11,426,176	11,166,930
Colombian Pesos | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			109,858,751	104,555,137
Colombian Pesos | Commercial | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			57,651,220	56,516,054
Colombian Pesos | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			35,848,422	32,822,355
Colombian Pesos | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			6,672,423	5,674,639
Colombian Pesos | Microcredit | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			425,697	409,688
Colombian Pesos | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			9,260,989	9,132,401
Foreign currency | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			67,023,090	61,817,639
Foreign currency | Commercial | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			34,898,805	33,020,440
Foreign currency | Consumer | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			19,352,159	17,333,776
Foreign currency | Mortgage | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			10,606,939	9,428,894
Foreign currency | Finance Leases | Total gross loan portfolio
Disclosure Of Financial Risk Management Explanatory [Line Items]
Credit portfolio at amortized cost			$ 2,165,187	$ 2,034,529
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

RISK MANAGEMENT - Investment de

RISK MANAGEMENT - Investment debt securities - Concentration by sector (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 245,105,338	$ 222,154,907
Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		5,128,088
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	3,762,978	2,650,536
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	3,321,177	2,180,107
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	441,801	470,929
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Securities issued or secured by Colombian Government | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,210,108	1,229,606
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Securities issued or secured by Colombian Government | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	60,534	1,613
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Securities issued by other of the Colombian Government entities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	108,072	48,355
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Securities issued by other of the Colombian Government entities | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	20,473	21,709
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Securities issued by foreign Governments | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	98,155	92,931
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Securities issued by central banks | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	12,914	34,095
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Securities issued or secured by other financial entities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	972,789	833,860
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Securities issued or secured by other financial entities | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	245,962	303,665
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Securities issued by non-financial sector entities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	29,122	17,869
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Others | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,086	50,417
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities | Others | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	3,763	16,416
Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	31,256
Financial assets at fair value through profit or loss, category [member] | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	31,256
Financial assets at fair value through profit or loss, category [member] | Securities issued by other issuers
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	31,256
Financial assets at fair value through profit or loss, category [member] | Securities issued by other issuers | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	31,256
Financial assets at fair value through other comprehensive income, category [member] | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	18,935,757
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	9,867,018
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	9,068,739
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Securities issued or secured by Colombian Government | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	9,256,358
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Securities issued or secured by Colombian Government | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,269,416
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Securities issued by other of the Colombian Government entities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	194,933
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Securities issued by other of the Colombian Government entities | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	302,701
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Securities issued by foreign Governments | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	3,015,556
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Securities issued by central banks | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,131,740
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Securities issued or secured by other financial entities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	388,019
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Securities issued or secured by other financial entities | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,920,462
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Securities issued by non-financial sector entities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	27,708
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Securities issued by non-financial sector entities | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	182,232
Financial assets at fair value through other comprehensive income, category [member] | Debt securities | Others | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	246,632
Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		18,614,160
Financial assets available-for-sale, category [member] | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		17,790,127
Financial assets available-for-sale, category [member] | Debt securities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		8,257,711
Financial assets available-for-sale, category [member] | Debt securities | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		9,532,416
Financial assets available-for-sale, category [member] | Debt securities | Securities issued or secured by Colombian Government | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		7,892,554
Financial assets available-for-sale, category [member] | Debt securities | Securities issued or secured by Colombian Government | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		1,592,371
Financial assets available-for-sale, category [member] | Debt securities | Securities issued by other of the Colombian Government entities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		92,008
Financial assets available-for-sale, category [member] | Debt securities | Securities issued by other of the Colombian Government entities | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		570,694
Financial assets available-for-sale, category [member] | Debt securities | Securities issued by foreign Governments | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,104,397
Financial assets available-for-sale, category [member] | Debt securities | Securities issued by central banks | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		1,356,874
Financial assets available-for-sale, category [member] | Debt securities | Securities issued or secured by other financial entities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		263,633
Financial assets available-for-sale, category [member] | Debt securities | Securities issued or secured by other financial entities | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		3,354,444
Financial assets available-for-sale, category [member] | Debt securities | Securities issued by non-financial sector entities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,326
Financial assets available-for-sale, category [member] | Debt securities | Securities issued by non-financial sector entities | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		322,143
Financial assets available-for-sale, category [member] | Debt securities | Others | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		7,190
Financial assets available-for-sale, category [member] | Debt securities | Others | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		231,493
Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	215,324,860	26,802,972
Financial assets at amortised cost, category [member] | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,972,616
Financial assets at amortised cost, category [member] | Debt securities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,940,295
Financial assets at amortised cost, category [member] | Debt securities | Securities issued by other of the Colombian Government entities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,931,172
Financial assets at amortised cost, category [member] | Debt securities | Securities issued by foreign Governments
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	32,321
Financial assets at amortised cost, category [member] | Debt securities | Securities issued by foreign Governments | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	32,321
Financial assets at amortised cost, category [member] | Debt securities | Securities issued or secured by other financial entities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	9,123
Financial assets at amortised cost, category [member] | Debt securities | Securities issued or secured by other financial entities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	9,123
Financial assets at amortised cost, category [member] | Debt securities | Others | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 32,321
Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,899,039
Held-to-maturity investments, category [member] | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,899,039
Held-to-maturity investments, category [member] | Debt securities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,848,345
Held-to-maturity investments, category [member] | Debt securities | Securities issued or secured by Colombian Government | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		424
Held-to-maturity investments, category [member] | Debt securities | Securities issued by other of the Colombian Government entities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,839,286
Held-to-maturity investments, category [member] | Debt securities | Securities issued by foreign Governments | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		26,864
Held-to-maturity investments, category [member] | Debt securities | Securities issued or secured by other financial entities | Colombian Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		8,635
Held-to-maturity investments, category [member] | Debt securities | Securities issued or secured by other financial entities | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		23,830
Held-to-maturity investments, category [member] | Debt securities | Others | Foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		$ 50,694

RISK MANAGEMENT - Investment _2

RISK MANAGEMENT - Investment debt securities - Concentration by location (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	$ 25,702,607	$ 23,339,701
Colombia
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	18,047,109	15,887,882
United States
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	2,412,555	1,801,922
Costa Rica
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	1,674,052	1,401,805
Guatemala
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	999,544	964,201
Panama
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	813,711	1,052,712
Honduras
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	586,275	531,227
Brazil
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	424,339	698,573
Peru
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	352,795	331,874
Chile
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	150,239	223,648
Multilateral – Bladex (Foreign Trade Bank of Latin America)
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	87,500	73,088
Nicaragua
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	64,918	148,784
El Salvador
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	40,890	79,850
Multilateral – Andean Development Corporation (Corporación Andina de Fomento)
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	31,156	31,798
Mexico
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	13,761	24,695
BAC San José Liquid Fund (BAC San José Fondo Líquido – Riesgo País Mixto)
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities	$ 3,763	15,494
Netherlands
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities		31,760
Puerto Rico
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities		23,830
Switzerland
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investments in debt securities		$ 16,558

RISK MANAGEMENT - Investment _3

RISK MANAGEMENT - Investment debt securities - Concentration by sovereign risk (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Central Government debt instruments held	$ 15,942,447	$ 12,940,760
Central Government debt instruments held, Percentage	100.00%	100.00%
Total Sovereign Risk	$ 17,087,101	$ 14,331,729
Investment grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Central Government debt instruments held	$ 13,795,500	$ 11,415,746
Central Government debt instruments held, Percentage	86.53%	88.22%
Central Bank debt instruments held, Percentage	0.00%	0.00%
Investment grade | Colombia
Disclosure Of Financial Risk Management Explanatory [Line Items]
Central Government debt instruments held	$ 12,796,415	$ 10,716,568
Central Government debt instruments held, Percentage	80.27%	82.81%
Investment grade | Panama
Disclosure Of Financial Risk Management Explanatory [Line Items]
Central Government debt instruments held	$ 550,674	$ 617,126
Central Government debt instruments held, Percentage	3.45%	4.78%
Investment grade | United States
Disclosure Of Financial Risk Management Explanatory [Line Items]
Central Government debt instruments held	$ 415,412	$ 57,120
Central Government debt instruments held, Percentage	2.61%	0.44%
Investment grade | Chile
Disclosure Of Financial Risk Management Explanatory [Line Items]
Central Government debt instruments held	$ 32,999	$ 24,932
Central Government debt instruments held, Percentage	0.20%	0.19%
Speculative grade
Disclosure Of Financial Risk Management Explanatory [Line Items]
Central Government debt instruments held	$ 2,146,947	$ 1,525,014
Central Government debt instruments held, Percentage	13.47%	11.78%
Central Bank debt instruments held	$ 1,144,654	$ 1,390,969
Central Bank debt instruments held, Percentage	100.00%	100.00%
Speculative grade | Costa Rica
Disclosure Of Financial Risk Management Explanatory [Line Items]
Central Government debt instruments held	$ 1,437,850	$ 1,018,737
Central Government debt instruments held, Percentage	9.02%	7.87%
Central Bank debt instruments held	$ 208,766	$ 207,474
Central Bank debt instruments held, Percentage	18.24%	14.92%
Speculative grade | Honduras
Disclosure Of Financial Risk Management Explanatory [Line Items]
Central Government debt instruments held	$ 402,275	$ 372,237
Central Government debt instruments held, Percentage	2.52%	2.88%
Central Bank debt instruments held	$ 184,000	$ 158,990
Central Bank debt instruments held, Percentage	16.07%	11.43%
Speculative grade | Guatemala
Disclosure Of Financial Risk Management Explanatory [Line Items]
Central Government debt instruments held	$ 265,932	$ 56,808
Central Government debt instruments held, Percentage	1.67%	0.44%
Central Bank debt instruments held	$ 686,970	$ 876,271
Central Bank debt instruments held, Percentage	60.02%	63.00%
Speculative grade | El Salvador
Disclosure Of Financial Risk Management Explanatory [Line Items]
Central Government debt instruments held	$ 40,890	$ 76,682
Central Government debt instruments held, Percentage	0.26%	0.59%
Speculative grade | Nicaragua
Disclosure Of Financial Risk Management Explanatory [Line Items]
Central Government debt instruments held		$ 550
Central Government debt instruments held, Percentage	0.00%	0.00%
Central Bank debt instruments held	$ 64,918	$ 148,234
Central Bank debt instruments held, Percentage	5.67%	10.66%

RISK MANAGEMENT - Modified Fina

RISK MANAGEMENT - Modified Financial Assets - Restructured loans (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Restructured loans	$ 3,968,583	$ 3,318,393
Local
Disclosure Of Financial Risk Management Explanatory [Line Items]
Restructured loans	2,693,018	2,674,637
Foreign
Disclosure Of Financial Risk Management Explanatory [Line Items]
Restructured loans	$ 1,275,565	$ 643,756

RISK MANAGEMENT - Modified Fi_2

RISK MANAGEMENT - Modified Financial Assets - Foreclosed assets (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of Risk Management [Abstract]
Foreclosed assets received	$ 188,245	$ 106,030
Foreclosed assets sold	$ 52,785	$ 64,038

RISK MANAGEMENT - Modified Fi_3

RISK MANAGEMENT - Modified Financial Assets - Commitments in unused lines of credit (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional amount	$ 30,925,681	$ 27,223,238
Guarantees
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional amount	3,446,601	3,495,921
Unused letters of credit
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional amount	1,186,691	1,177,697
Unused limits of overdrafts
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional amount	306,740	75,225
Unused credit card limits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional amount	20,816,061	18,025,620
Other
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional amount	$ 5,169,588	$ 4,448,775

RISK MANAGEMENT - Modified Fi_4

RISK MANAGEMENT - Modified Financial Assets - Credit commitments (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional amount	$ 30,925,681	$ 27,223,238
Colombia, Pesos
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional amount	14,918,915	10,271,676
United States of America, Dollars
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional amount	12,885,921	16,589,399
Euro Member Countries, Euro
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional amount	2,892,670	85,887
Other currencies
Disclosure Of Financial Risk Management Explanatory [Line Items]
Notional amount	$ 228,175	$ 276,276

RISK MANAGEMENT - Offset of fin

RISK MANAGEMENT - Offset of financial assets (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of offsetting of financial assets [line items]
Gross financial assets subject to offsetting, enforceable master netting arrangements or similar agreements	$ 5,406,686	$ 3,070,824
Gross financial liabilities set off against financial assets subject to offsetting, enforceable master netting arrangements or similar agreements		(142,495)
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position	5,406,686	2,928,329
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial assets	(4,548,117)	(2,547,432)
Cash collateral received subject to enforceable master netting arrangement or similar agreement not set off against financial assets	(315,876)	(45,387)
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements	542,693	335,510
Derivatives
Disclosure of offsetting of financial assets [line items]
Gross financial assets subject to offsetting, enforceable master netting arrangements or similar agreements	798,824	526,148
Gross financial liabilities set off against financial assets subject to offsetting, enforceable master netting arrangements or similar agreements		(142,495)
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position	798,824	383,653
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial assets	(199,773)	(2,756)
Cash collateral received subject to enforceable master netting arrangement or similar agreement not set off against financial assets	(265,361)	(45,387)
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements	333,690	335,510
Repurchase Agreements
Disclosure of offsetting of financial assets [line items]
Gross financial assets subject to offsetting, enforceable master netting arrangements or similar agreements	4,607,862	2,544,676
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position	4,607,862	2,544,676
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial assets	(4,348,344)	$ (2,544,676)
Cash collateral received subject to enforceable master netting arrangement or similar agreement not set off against financial assets	(50,515)
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements	$ 209,003

RISK MANAGEMENT - Offset of f_2

RISK MANAGEMENT - Offset of financial liabilities (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of offsetting of financial liabilities [line items]
Gross financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements	$ 6,075,325	$ 3,978,057
Gross financial assets set off against financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements		(134,397)
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position	6,075,325	3,843,660
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities	(5,179,714)	(3,724,677)
Cash collateral pledged subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities	(50,982)	(33,182)
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements	844,629	85,801
Derivatives
Disclosure of offsetting of financial liabilities [line items]
Gross financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements	1,006,844	446,526
Gross financial assets set off against financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements		(134,397)
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position	1,006,844	312,129
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities	(10,116)	(2,831)
Cash collateral pledged subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities	(50,982)	(33,182)
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements	945,746	276,116
Repurchase Agreements
Disclosure of offsetting of financial liabilities [line items]
Gross financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements	5,068,481	3,531,531
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position	5,068,481	3,531,531
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities	(5,169,598)	(3,721,846)
Net financial liabilities (assets) subject to offsetting, enforceable master netting arrangements or similar agreements	$ (101,117)	$ (190,315)

RISK MANAGEMENT - Market Risk (

RISK MANAGEMENT - Market Risk (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets	$ 245,105,338	$ 222,154,907
Total Liabilities	216,578,285	200,473,389
Market risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets	23,528,815	20,824,316
Total Liabilities	1,006,844	312,129
Net position	22,521,971	20,512,187
Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets		5,128,088
Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets	31,256
Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets	768,686	328,392
Derivatives | Market risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets	768,686	328,392
Total Liabilities	811,305	298,665
Derivatives | Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets		328,392
Hedging Derivatives | Market risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets	30,138	55,261
Total Liabilities	195,539	13,464
Debt securities | Market risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets	22,729,991	20,440,663
Debt securities | Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets	3,762,978	2,650,536
Debt securities | Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Market risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets	3,762,978	2,650,536
Debt securities | Financial assets at fair value through profit or loss, category [member] | Market risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets	31,256
Debt securities | Financial assets at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets	18,935,757
Debt securities | Financial assets at fair value through other comprehensive income, category [member] | Market risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets	18,935,757	17,790,127
Derivatives and Hedging | Market risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Total Financial assets	$ 798,824	$ 383,653

RISK MANAGEMENT - Risk Manageme

RISK MANAGEMENT - Risk Management - Regulatory (Details) - Measure Trading Risk Method - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value	$ 924,767	$ 829,846
Basis points of regulatory capital (as a percent)	1.16%	1.09%
Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value	$ 189,871	$ 184,223
Basis points of regulatory capital (as a percent)	0.75%	0.56%
Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value	$ 162,888	$ 125,265
Basis points of regulatory capital (as a percent)	0.93%	0.79%
Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value	$ 37,942	$ 18,394
Basis points of regulatory capital (as a percent)	0.41%	0.20%
Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value	$ 219,656	$ 159,214
Basis points of regulatory capital (as a percent)	0.12%	0.09%

RISK MANAGEMENT - Risk Manage_2

RISK MANAGEMENT - Risk Management - Value at risk (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Interest rate | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	$ 352,595	$ 321,121
Interest rate | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	184,106	174,379
Interest rate | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	148,343	119,856
Interest rate | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	37,115	14,206
Interest rate | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	208,375	144,232
Exchange rate | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	298,257	304,429
Exchange rate | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	1,479	7,034
Exchange rate | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	3,325	3,329
Exchange rate | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	30	1,448
Exchange rate | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	436	4,041
Shares | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	8,231	8,099
Shares | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	946	946
Shares | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	10,125	10,800
Mutual funds | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	265,684	196,197
Mutual funds | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	4,286	2,811
Mutual funds | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	10,274	1,134
Mutual funds | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	797	2,741
Mutual funds | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	720	140
VaR Portfolio | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	924,767	829,846
VaR Portfolio | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	189,871	184,224
VaR Portfolio | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	162,888	125,265
VaR Portfolio | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	37,942	18,394
VaR Portfolio | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	219,656	159,214
Minimum | Interest rate | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	352,595	309,368
Minimum | Interest rate | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	184,106	140,044
Minimum | Interest rate | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	115,829	103,535
Minimum | Interest rate | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	12,884	12,563
Minimum | Interest rate | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	187,983	81,334
Minimum | Exchange rate | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	234,509	12,424
Minimum | Exchange rate | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	595	1,424
Minimum | Exchange rate | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	2,125	4
Minimum | Exchange rate | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	0
Minimum | Exchange rate | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	436	656
Minimum | Shares | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	6,647	7,234
Minimum | Shares | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	929	945
Minimum | Shares | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	10,125	9,691
Minimum | Mutual funds | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	200,510	187,698
Minimum | Mutual funds | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	2,820	2,580
Minimum | Mutual funds | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	6,583	1,019
Minimum | Mutual funds | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	177	481
Minimum | Mutual funds | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	699	116
Minimum | VaR Portfolio | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	828,688	523,306
Minimum | VaR Portfolio | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	187,521	145,108
Minimum | VaR Portfolio | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	126,533	105,635
Minimum | VaR Portfolio | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	15,844	15,198
Minimum | VaR Portfolio | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	205,505	95,312
Weighted Average | Interest rate | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	387,828	342,043
Weighted Average | Interest rate | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	199,399	162,463
Weighted Average | Interest rate | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	136,338	115,033
Weighted Average | Interest rate | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	35,893	37,998
Weighted Average | Interest rate | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	201,515	104,098
Weighted Average | Exchange rate | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	263,363	52,925
Weighted Average | Exchange rate | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	1,697	3,119
Weighted Average | Exchange rate | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	3,867	662
Weighted Average | Exchange rate | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	985	670
Weighted Average | Exchange rate | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	4,490	2,332
Weighted Average | Shares | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	7,605	7,068
Weighted Average | Shares | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	949	965
Weighted Average | Shares | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	10,370	10,601
Weighted Average | Mutual funds | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	226,030	184,582
Weighted Average | Mutual funds | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	3,849	2,702
Weighted Average | Mutual funds | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	6,971	1,085
Weighted Average | Mutual funds | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	1,441	1,394
Weighted Average | Mutual funds | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	856	891
Weighted Average | VaR Portfolio | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	884,826	586,619
Weighted Average | VaR Portfolio | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	204,945	168,284
Weighted Average | VaR Portfolio | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	148,125	117,745
Weighted Average | VaR Portfolio | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	38,319	40,061
Weighted Average | VaR Portfolio | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	217,231	117,460
Maximum | Interest rate | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	420,474	400,828
Maximum | Interest rate | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	218,732	184,209
Maximum | Interest rate | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	154,233	122,910
Maximum | Interest rate | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	48,978	89,381
Maximum | Interest rate | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	211,039	144,232
Maximum | Exchange rate | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	298,257	304,429
Maximum | Exchange rate | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	3,817	7,034
Maximum | Exchange rate | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	6,135	3,329
Maximum | Exchange rate | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	2,738	1,572
Maximum | Exchange rate | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	7,707	4,041
Maximum | Shares | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	8,335	8,099
Maximum | Shares | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	963	967
Maximum | Shares | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	10,954	11,072
Maximum | Mutual funds | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	266,906	196,197
Maximum | Mutual funds | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	4,526	2,811
Maximum | Mutual funds | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	10,420	1,203
Maximum | Mutual funds | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	4,455	6,373
Maximum | Mutual funds | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	1,020	2,669
Maximum | VaR Portfolio | Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	969,931	829,846
Maximum | VaR Portfolio | Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	227,074	190,502
Maximum | VaR Portfolio | Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	168,310	126,486
Maximum | VaR Portfolio | Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	52,166	89,960
Maximum | VaR Portfolio | Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Value at risk	$ 226,727	$ 159,214

RISK MANAGEMENT - Investment Pr

RISK MANAGEMENT - Investment Price Risk in Equity Instruments (Details) - Equity investments [member] - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investment subject to Regulatory VaR	$ 45,706	$ 67,538
Regulatory VaR	$ 6,719	$ 9,928
Percentage of portfolio	100.00%	100.00%
Later than three years [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Investment subject to Regulatory VaR	$ 45,706	$ 67,538
Regulatory VaR	$ 6,719	$ 9,928
Percentage of portfolio	100.00%	100.00%

RISK MANAGEMENT - Structural fo

RISK MANAGEMENT - Structural foreign exchange risk (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	Dec. 31, 2018COP ($)	Dec. 31, 2017USD ($)	Dec. 31, 2017COP ($)
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		$ 245,105,338		$ 222,154,907
Financial Obligations		216,578,285		200,473,389
Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		31,256
Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		215,324,860		26,802,972
Financial Obligations				200,161,260
Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets				5,128,088
Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets				18,614,160
Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets				2,899,039
Foreign Currency Balances
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 23,591	97,990,238	$ 22,744	86,991,386
Financial Obligations	25,109	100,280,203	23,723	87,471,548
Net financial asset (liability) position	(1,518)	(2,289,965)	(979)	(480,162)
Foreign Currency Balances | Other currencies
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	6,562		6,410
Financial Obligations	5,746		5,600
Net financial asset (liability) position	816		810
Foreign Currency Balances | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	121	441,801
Foreign Currency Balances | Financial assets at fair value through profit or loss, category [member] | Other currencies
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	15
Foreign Currency Balances | Financial assets at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,201	9,068,739
Foreign Currency Balances | Financial assets at fair value through other comprehensive income, category [member] | Other currencies
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	589
Foreign Currency Balances | Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	10	32,321
Foreign Currency Balances | Loan Portfolio Financial Assets at Amortized Cost
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	15,923	67,023,090	16,217	61,817,662
Foreign Currency Balances | Loan Portfolio Financial Assets at Amortized Cost | Other currencies
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	4,706		4,500
Foreign Currency Balances | Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets			134	470,430
Foreign Currency Balances | Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Other currencies
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets			24
Foreign Currency Balances | Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets			2,564	9,532,417
Foreign Currency Balances | Financial assets available-for-sale, category [member] | Other currencies
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets			631
Foreign Currency Balances | Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets			17	50,695
Foreign Currency Balances | Trading Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	222	725,433	91	274,691
Financial Obligations	236	776,162	85	256,865
Foreign Currency Balances | Trading Derivatives | Other currencies
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1		1
Financial Obligations	3		1
Foreign Currency Balances | Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	246	1,370,820	161	1,083,678
Foreign Currency Balances | Other Accounts Receivable | Other currencies
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	176		202
Foreign Currency Balances | Hedging Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	9	30,138	19	55,261
Financial Obligations	60	195,539	5	13,464
Foreign Currency Balances | Customer deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	14,914	64,971,825	14,572	58,087,999
Foreign Currency Balances | Customer deposits | Other currencies
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	5,077		4,909
Foreign Currency Balances | Financial obligations
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	9,457	32,899,230	8,624	27,808,291
Foreign Currency Balances | Financial obligations | Other currencies
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	666		690
Foreign Currency Balances | Accounts payables
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	442	1,437,447	437	1,304,929
Foreign Currency Balances | Cash and cash equivalentss
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	4,859	$ 19,297,896	3,541	$ 13,706,552
Foreign Currency Balances | Cash and cash equivalentss | Other currencies
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 1,075		$ 1,052

RISK MANAGEMENT - Structural _2

RISK MANAGEMENT - Structural foreign exchange risk - Sensitivity analysis of foreign exchange effect (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018COP ($)$ / $	Dec. 31, 2017COP ($)
Disclosure of Risk Management [Abstract]
Increase in peso value of USD | $ / $	100
Decrease in peso value of USD | $ / $	100
Increase in equity due to change in value of USD	$ (33,579)	$ 9,205
Decrease in equity due to change in value of USD	33,579	(9,205)
Increase in profit before tax due to change in value of USD	(53,300)	15,342
Decrease in profit before tax due to change in value of USD	$ 53,300	$ (15,342)

RISK MANAGEMENT - Structural In

RISK MANAGEMENT - Structural Interest Rate Risk (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 245,105,338	$ 222,154,907
Financial Obligations	216,578,285	200,473,389
Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	240,543,265	218,798,061
Financial Obligations	215,571,441	200,161,260
Checking accounts | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	39,702,878	36,017,602
Time deposits | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	66,853,012	62,616,163
Saving deposits | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	57,221,439	55,778,677
Other deposits | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	582,122	472,782
Interbank and overnight funds | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	6,814,078	4,970,430
Borrowing from banks and other | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	20,610,766	18,205,320
Long-term debt | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	20,140,350	19,102,196
Borrowing from development entities | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	3,646,796	2,998,090
Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	31,256
Financial assets at fair value through profit or loss, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	3,794,234
Financial assets at fair value through other comprehensive income, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	18,935,757
Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	215,324,860	26,802,972
Financial Obligations		200,161,260
Financial assets at amortised cost, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,972,616
Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		5,128,088
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,650,536
Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		18,614,160
Financial assets available-for-sale, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		17,790,127
Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,899,039
Held-to-maturity investments, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,899,039
Service concession arrangements | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,488,414	2,282,611
Commercial loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	102,408,977	99,428,894
Consumer loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	55,455,064	50,382,895
Mortgages and housing leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	18,592,103	16,151,299
Microcredit loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	425,697	409,688
Other Accounts Receivable | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	7,069,120	4,466,134
Cash and cash equivalentss | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	28,401,283	22,336,838
Non-interest | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	29,316,333	23,533,548
Financial Obligations	17,907,347	15,893,114
Non-interest | Checking accounts | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	17,325,225	15,420,332
Non-interest | Other deposits | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	582,122	472,782
Non-interest | Other Accounts Receivable | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	4,025,717	3,575,238
Non-interest | Cash and cash equivalentss | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	25,290,616	19,958,310
Less Than One Month | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	50,704,588	39,094,735
Financial Obligations	76,945,718	97,842,171
Less Than One Month | Checking accounts | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	22,377,653	20,597,270
Less Than One Month | Time deposits | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	9,741,623	12,733,132
Less Than One Month | Saving deposits | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	36,523,899	55,778,677
Less Than One Month | Interbank and overnight funds | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	6,099,084	4,836,246
Less Than One Month | Borrowing from banks and other | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	1,566,524	3,249,799
Less Than One Month | Long-term debt | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	73,565	123,261
Less Than One Month | Borrowing from development entities | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	563,370	523,786
Less Than One Month | Financial assets at fair value through profit or loss, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	25,077
Less Than One Month | Financial assets at fair value through other comprehensive income, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	131,497
Less Than One Month | Financial assets at amortised cost, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	671,047
Less Than One Month | Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		169,328
Less Than One Month | Financial assets available-for-sale, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		495,315
Less Than One Month | Held-to-maturity investments, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		722,026
Less Than One Month | Commercial loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	28,546,532	21,760,032
Less Than One Month | Consumer loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	10,538,797	10,003,247
Less Than One Month | Mortgages and housing leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	7,649,242	3,539,706
Less Than One Month | Microcredit loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	31,729	26,553
Less Than One Month | Cash and cash equivalentss | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	3,110,667	2,378,528
From one to six months | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	42,614,575	60,356,121
Financial Obligations	65,085,094	38,002,279
From one to six months | Time deposits | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	28,546,101	24,212,202
From one to six months | Saving deposits | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	20,697,540
From one to six months | Interbank and overnight funds | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	714,994	134,184
From one to six months | Borrowing from banks and other | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	11,497,277	5,801,906
From one to six months | Long-term debt | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	3,369,988	6,500,197
From one to six months | Borrowing from development entities | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	259,194	1,353,790
From one to six months | Financial assets at fair value through profit or loss, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	376,999
From one to six months | Financial assets at fair value through other comprehensive income, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,056,389
From one to six months | Financial assets at amortised cost, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	951,850
From one to six months | Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		497,031
From one to six months | Financial assets available-for-sale, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		1,537,630
From one to six months | Held-to-maturity investments, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		832,703
From one to six months | Commercial loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	29,463,725	43,162,885
From one to six months | Consumer loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	7,975,944	8,953,299
From one to six months | Mortgages and housing leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,771,712	5,354,545
From one to six months | Microcredit loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	17,956	18,028
Six Month To Twelve Month | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	16,365,356	12,483,298
Financial Obligations	18,875,464	16,165,861
Six Month To Twelve Month | Time deposits | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	15,447,825	13,456,116
Six Month To Twelve Month | Borrowing from banks and other | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	1,164,075	2,200,184
Six Month To Twelve Month | Long-term debt | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	656,291	416,407
Six Month To Twelve Month | Borrowing from development entities | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	1,607,273	93,154
Six Month To Twelve Month | Financial assets at fair value through profit or loss, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,216,834
Six Month To Twelve Month | Financial assets at fair value through other comprehensive income, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,163,367
Six Month To Twelve Month | Financial assets at amortised cost, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,348,691
Six Month To Twelve Month | Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		580,030
Six Month To Twelve Month | Financial assets available-for-sale, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		1,300,390
Six Month To Twelve Month | Held-to-maturity investments, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		1,338,712
Six Month To Twelve Month | Commercial loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	9,612,217	7,089,736
Six Month To Twelve Month | Consumer loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,566,425	1,731,816
Six Month To Twelve Month | Mortgages and housing leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	419,518	404,417
Six Month To Twelve Month | Microcredit loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	38,304	38,197
More Than One Year | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	101,542,413	83,330,359
Financial Obligations	36,757,818	32,257,835
More Than One Year | Time deposits | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	13,117,463	12,214,713
More Than One Year | Borrowing from banks and other | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	6,382,890	6,953,431
More Than One Year | Long-term debt | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	16,040,506	12,062,331
More Than One Year | Borrowing from development entities | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	1,216,959	1,027,360
More Than One Year | Financial assets at fair value through profit or loss, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,175,324
More Than One Year | Financial assets at fair value through other comprehensive income, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	15,584,504
More Than One Year | Financial assets at amortised cost, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,028
More Than One Year | Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		1,404,147
More Than One Year | Financial assets available-for-sale, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		14,456,792
More Than One Year | Held-to-maturity investments, category [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		5,598
More Than One Year | Service concession arrangements | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,488,414	2,282,611
More Than One Year | Commercial loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	34,786,503	27,416,241
More Than One Year | Consumer loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	34,373,898	29,694,533
More Than One Year | Mortgages and housing leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	8,751,631	6,852,631
More Than One Year | Microcredit loans and leases | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	337,708	326,910
More Than One Year | Other Accounts Receivable | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 3,043,403	$ 890,896

RISK MANAGEMENT - Structural _3

RISK MANAGEMENT - Structural Interest Rate Risk - Interest bearing assets and liabilities (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 245,105,338	$ 222,154,907
Financial Obligations	216,578,285	200,473,389
Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	31,256
Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	215,324,860	26,802,972
Financial Obligations		200,161,260
Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		5,128,088
Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		18,614,160
Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,899,039
Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	240,543,265	218,798,061
Financial Obligations	215,571,441	200,161,260
Interest rate | Cash due from banks and central bank
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	28,401,283	22,336,838
Interest rate | Checking accounts
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	39,702,878	36,017,602
Interest rate | Time deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	66,853,012	62,616,163
Interest rate | Saving deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	57,221,439	55,778,677
Interest rate | Other deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	582,122	472,782
Interest rate | Interbank and overnight funds
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	6,814,078	4,970,430
Interest rate | Borrowing from banks and other
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	20,610,766	18,205,320
Interest rate | Long-term debt
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	20,140,350	19,102,196
Interest rate | Borrowing from development entities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	3,646,796	2,998,090
Interest rate | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	3,794,234
Interest rate | Financial assets at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	18,935,757
Interest rate | Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,972,616
Interest rate | Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,650,536
Interest rate | Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		17,790,127
Interest rate | Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,899,039
Interest rate | Service concession arrangements
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,488,414	2,282,611
Interest rate | Commercial loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	102,408,977	99,428,894
Interest rate | Consumer loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	55,455,064	50,382,895
Interest rate | Mortgages and housing leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	18,592,103	16,151,299
Interest rate | Microcredit loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	425,697	409,688
Interest rate | Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	7,069,120	4,466,134
Interest rate | Cash and cash equivalentss
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	28,401,283	22,336,838
Floating interest rate | Not later than one year [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	48,787,602	41,072,325
Financial Obligations	36,104,947	25,284,871
Floating interest rate | Not later than one year [member] | Interest rate | Cash due from banks and central bank
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,014,270
Floating interest rate | Not later than one year [member] | Interest rate | Time deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	11,332,638	10,785,649
Floating interest rate | Not later than one year [member] | Interest rate | Saving deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	16,485,565	9,156,432
Floating interest rate | Not later than one year [member] | Interest rate | Interbank and overnight funds
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	3,492,343	106,495
Floating interest rate | Not later than one year [member] | Interest rate | Borrowing from banks and other
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	3,406,673	4,327,736
Floating interest rate | Not later than one year [member] | Interest rate | Long-term debt
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	749,442	534,852
Floating interest rate | Not later than one year [member] | Interest rate | Borrowing from development entities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	638,286	373,707
Floating interest rate | Not later than one year [member] | Interest rate | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	159,486
Floating interest rate | Not later than one year [member] | Interest rate | Financial assets at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	13,532
Floating interest rate | Not later than one year [member] | Interest rate | Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,349,722
Floating interest rate | Not later than one year [member] | Interest rate | Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		140,796
Floating interest rate | Not later than one year [member] | Interest rate | Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		44,213
Floating interest rate | Not later than one year [member] | Interest rate | Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,841,714
Floating interest rate | Not later than one year [member] | Interest rate | Commercial loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	44,094,950	37,026,675
Floating interest rate | Not later than one year [member] | Interest rate | Consumer loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,099,251	942,057
Floating interest rate | Not later than one year [member] | Interest rate | Mortgages and housing leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	53,296	74,604
Floating interest rate | Not later than one year [member] | Interest rate | Microcredit loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,698	2,266
Floating interest rate | Not later than one year [member] | Interest rate | Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	397
Floating interest rate | Later than one year | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	80,073,769	74,072,041
Financial Obligations	19,203,461	20,887,259
Floating interest rate | Later than one year | Interest rate | Time deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	6,801,559	7,605,647
Floating interest rate | Later than one year | Interest rate | Borrowing from banks and other
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	2,899,475	3,900,072
Floating interest rate | Later than one year | Interest rate | Long-term debt
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	6,650,249	6,772,587
Floating interest rate | Later than one year | Interest rate | Borrowing from development entities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	2,852,178	2,608,953
Floating interest rate | Later than one year | Interest rate | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	231,620
Floating interest rate | Later than one year | Interest rate | Financial assets at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	872,882
Floating interest rate | Later than one year | Interest rate | Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	896,162
Floating interest rate | Later than one year | Interest rate | Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		331,589
Floating interest rate | Later than one year | Interest rate | Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,128,817
Floating interest rate | Later than one year | Interest rate | Service concession arrangements
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,488,414	2,282,611
Floating interest rate | Later than one year | Interest rate | Commercial loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	51,184,839	49,061,715
Floating interest rate | Later than one year | Interest rate | Consumer loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	10,482,629	9,725,059
Floating interest rate | Later than one year | Interest rate | Mortgages and housing leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	10,924,349	9,695,527
Floating interest rate | Later than one year | Interest rate | Microcredit loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	3,582	4,550
Floating interest rate | Later than one year | Interest rate | Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,989,292	842,173
Fixed interest rate | Not later than one year [member] | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	26,146,069	33,079,897
Financial Obligations	111,093,775	111,751,536
Fixed interest rate | Not later than one year [member] | Interest rate | Cash due from banks and central bank
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,096,397	2,378,528
Fixed interest rate | Not later than one year [member] | Interest rate | Checking accounts
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	22,377,653	20,597,270
Fixed interest rate | Not later than one year [member] | Interest rate | Time deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	33,720,396	33,777,955
Fixed interest rate | Not later than one year [member] | Interest rate | Saving deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	40,735,874	46,622,245
Fixed interest rate | Not later than one year [member] | Interest rate | Interbank and overnight funds
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	3,321,735	4,863,935
Fixed interest rate | Not later than one year [member] | Interest rate | Borrowing from banks and other
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	9,984,328	5,026,923
Fixed interest rate | Not later than one year [member] | Interest rate | Long-term debt
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	804,281	851,809
Fixed interest rate | Not later than one year [member] | Interest rate | Borrowing from development entities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	149,508	11,399
Fixed interest rate | Not later than one year [member] | Interest rate | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,459,424
Fixed interest rate | Not later than one year [member] | Interest rate | Financial assets at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	3,337,721
Fixed interest rate | Not later than one year [member] | Interest rate | Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	725,704
Fixed interest rate | Not later than one year [member] | Interest rate | Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		1,153,157
Fixed interest rate | Not later than one year [member] | Interest rate | Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		3,289,129
Fixed interest rate | Not later than one year [member] | Interest rate | Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		51,727
Fixed interest rate | Not later than one year [member] | Interest rate | Commercial loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	4,259,106	10,240,136
Fixed interest rate | Not later than one year [member] | Interest rate | Consumer loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	14,713,486	15,282,475
Fixed interest rate | Not later than one year [member] | Interest rate | Mortgages and housing leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	330,277	477,646
Fixed interest rate | Not later than one year [member] | Interest rate | Microcredit loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	223,954	207,099
Fixed interest rate | Later than one year | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	56,219,492	47,040,250
Financial Obligations	31,261,911	26,344,480
Fixed interest rate | Later than one year | Interest rate | Time deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	14,998,419	10,446,912
Fixed interest rate | Later than one year | Interest rate | Borrowing from banks and other
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	4,320,290	4,950,589
Fixed interest rate | Later than one year | Interest rate | Long-term debt
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	11,936,378	10,942,948
Fixed interest rate | Later than one year | Interest rate | Borrowing from development entities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	6,824	4,031
Fixed interest rate | Later than one year | Interest rate | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,943,704
Fixed interest rate | Later than one year | Interest rate | Financial assets at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	14,711,622
Fixed interest rate | Later than one year | Interest rate | Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,028
Fixed interest rate | Later than one year | Interest rate | Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		1,024,994
Fixed interest rate | Later than one year | Interest rate | Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		12,327,968
Fixed interest rate | Later than one year | Interest rate | Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		5,598
Fixed interest rate | Later than one year | Interest rate | Commercial loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,870,082	3,100,368
Fixed interest rate | Later than one year | Interest rate | Consumer loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	29,159,698	24,433,304
Fixed interest rate | Later than one year | Interest rate | Mortgages and housing leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	7,284,181	5,903,522
Fixed interest rate | Later than one year | Interest rate | Microcredit loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	195,463	195,773
Fixed interest rate | Later than one year | Interest rate | Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	53,714	48,723
Non-interest | Interest rate
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	29,316,333	23,533,548
Financial Obligations	17,907,347	15,893,114
Non-interest | Interest rate | Cash due from banks and central bank
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	25,290,616	19,958,310
Non-interest | Interest rate | Checking accounts
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	17,325,225	15,420,332
Non-interest | Interest rate | Other deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	582,122	472,782
Non-interest | Interest rate | Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	4,025,717	3,575,238
Non-interest | Interest rate | Cash and cash equivalentss
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 25,290,616	$ 19,958,310

RISK MANAGEMENT - Liquidity Ris

RISK MANAGEMENT - Liquidity Risk - Percentages in each country (Details)	12 Months Ended
	Dec. 31, 2018
Colombia | Checking account and Savings accounts
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of deposits to be maintained as reserves	11.00%
Colombia | Time deposits less than eighteen months
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of deposits to be maintained as reserves	4.50%
Guatemala | Deposits and Capital raising
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of deposits to be maintained as reserves	11.60%
Guatemala | Demand deposits One
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of deposits to be maintained as reserves	25.00%
Guatemala | Demand deposits Two
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of deposits to be maintained as reserves	25.00%
Guatemala | Debt securities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of deposits to be maintained as reserves	50.00%
El Salvador | Demand depositse
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of deposits to be maintained as reserves	12.00%
Honduras | Mandatory investment in local currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of deposits to be maintained as reserves	5.00%
Honduras | Mandatory investment in foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of deposits to be maintained as reserves	12.00%
Nicaragua | Daily, Liabilities in local and foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of deposits to be maintained as reserves	12.00%
Nicaragua | Biweekly, Liabilities in local and foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of deposits to be maintained as reserves	14.00%
Costa Rica | Deposits in local and foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of deposits to be maintained as reserves	15.00%
Costa Rica | Capital raising in local and foreign currency
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of deposits to be maintained as reserves	15.00%

RISK MANAGEMENT - Liquidity R_2

RISK MANAGEMENT - Liquidity Risk - Liquid assets and LRI (Details) $ in Millions, $ in Millions

12 Months Ended

Dec. 31, 2018COP ($)

Dec. 31, 2017COP ($)

Dec. 31, 2018USD ($)

[1]

Dec. 31, 2018COP ($)

Dec. 31, 2017USD ($)

[1]

Dec. 31, 2017COP ($)

Dec. 31, 2016COP ($)

[3]

Dec. 31, 2015COP ($)

[3]

Disclosure Of Financial Risk Management Explanatory [Line Items]

Cash and cash equivalents

$ 8,739.5

$ 28,401,283

$ 6,873.4

$ 22,336,838

[2],[3]

$ 22,193,004

$ 22,284,977

Banco de Bogota S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Cash and cash equivalents

10,936,886

9,883,150

Banco de Occidente S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Cash and cash equivalents

5,913,723

5,685,570

Banco Popular S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Cash and cash equivalents

3,622,232

2,905,827

Banco Comercial AV Villas S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Cash and cash equivalents

2,035,362

1,776,252

Corporacion Financiera Colombiana S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Cash and cash equivalents

$ 1,131,464

$ 1,603,609

Later than one day and not later than seven days | Banco de Bogota S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

$ 10,370,295

$ 9,446,780

Later than one day and not later than seven days | Banco de Occidente S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

5,244,524

5,470,184

Later than one day and not later than seven days | Banco Popular S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

3,305,221

2,629,285

Later than one day and not later than seven days | Banco Comercial AV Villas S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

1,724,944

1,701,634

Later than one day and not later than seven days | Corporacion Financiera Colombiana S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

585,045

1,059,878

Later than one day and not later than thirty days | Banco de Bogota S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

8,892,523

7,161,523

Later than one day and not later than thirty days | Banco de Occidente S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

4,185,759

4,552,769

Later than one day and not later than thirty days | Banco Popular S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

2,505,573

1,726,392

Later than one day and not later than thirty days | Banco Comercial AV Villas S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

1,304,447

1,506,404

Later than one day and not later than thirty days | Corporacion Financiera Colombiana S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

386,081

649,166

Later than Thirty one days and not later than Ninty days | Banco de Bogota S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

321,897

1,082,066

Later than Thirty one days and not later than Ninty days | Banco de Occidente S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

1,631,575

1,346,442

Later than Thirty one days and not later than Ninty days | Banco Popular S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

164,075

(256,330)

Later than Thirty one days and not later than Ninty days | Banco Comercial AV Villas S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

(37,659)

478,347

Later than Thirty one days and not later than Ninty days | Corporacion Financiera Colombiana S.A.

Disclosure Of Financial Risk Management Explanatory [Line Items]

Liquidity Risk Indicator

$ (159,983)

$ 361,394

[1]

See note 2.4, “convenience translation into U.S. dollars”.

[2]

See note 2.32, Changes in presentation.

[3]

See note 2.5 “Changes in accounting policies”.

RISK MANAGEMENT - Liquidity R_3

RISK MANAGEMENT - Liquidity Risk - Undiscounted cash flows of financial assets and liabilities (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 245,105,338	$ 222,154,907
Financial Obligations	216,578,285	200,473,389
Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		5,128,088
Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		18,614,160
Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		2,899,039
Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	31,256
Financial assets measured at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	18,935,757
Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	215,324,860	26,802,972
Financial Obligations		200,161,260
Liquidity risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	283,324,271	276,041,139
Financial Obligations	235,086,316	230,362,686
Commitments Loans	27,965,422	28,434,720
Liquidity risk | Guarantees
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	2,313,540	2,596,333
Liquidity risk | Standby letters of credit
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	928,795	1,235,110
Liquidity risk | Overdraft facility
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	306,740	75,225
Liquidity risk | Standby credit card facility
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	20,409,059	19,816,305
Liquidity risk | Undrawn approved loans
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	3,612,600	4,468,837
Liquidity risk | Other
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	394,688	242,910
Liquidity risk | Trading derivatives Liabilities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	800,347	509,351
Liquidity risk | Checking accounts
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	39,708,169	40,840,666
Liquidity risk | Time deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	70,741,972	67,563,454
Liquidity risk | Saving deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	57,443,560	58,656,060
Liquidity risk | Other deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	582,122	505,920
Liquidity risk | Interbank and overnight funds
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	6,813,329	4,441,874
Liquidity risk | Borrowing from banks and other
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	22,183,396	21,002,945
Liquidity risk | Long-term debt
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	24,432,925	25,266,760
Liquidity risk | Borrowing from development entities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	4,336,693	4,935,935
Liquidity risk | Hedging derivatives Liabilities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	196,154	13,464
Liquidity risk | Other Liabilitiese
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	7,847,649	6,626,258
Liquidity risk | Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		3,159,152
Liquidity risk | Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		23,219,631
Liquidity risk | Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		3,167,181
Liquidity risk | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	3,971,257
Liquidity risk | Financial assets measured at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	22,275,570
Liquidity risk | Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	3,006,077
Liquidity risk | Commercial loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	109,542,816	127,055,148
Liquidity risk | Consumer loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	71,536,227	58,770,228
Liquidity risk | Mortgages and housing leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	35,361,710	30,987,645
Liquidity risk | Microcredit loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	568,025	548,194
Liquidity risk | Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	7,191,048	4,758,829
Liquidity risk | Trading Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	757,172	415,738
Liquidity risk | Hedging Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	33,024	56,531
Liquidity risk | Other assetss
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	631,231	482,636
Liquidity risk | Cash and cash equivalentss
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	28,450,114	23,420,225
Less Than One Month | Liquidity risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	55,376,409	49,614,217
Financial Obligations	122,454,820	122,530,743
Commitments Loans	27,948,878	28,275,372
Less Than One Month | Liquidity risk | Guarantees
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	2,297,206	2,591,109
Less Than One Month | Liquidity risk | Standby letters of credit
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	928,585	1,080,986
Less Than One Month | Liquidity risk | Overdraft facility
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	306,740	75,225
Less Than One Month | Liquidity risk | Standby credit card facility
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	20,409,059	19,816,305
Less Than One Month | Liquidity risk | Undrawn approved loans
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	3,612,600	4,468,837
Less Than One Month | Liquidity risk | Other
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	394,688	242,910
Less Than One Month | Liquidity risk | Trading derivatives Liabilities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	515,697	120,429
Less Than One Month | Liquidity risk | Checking accounts
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	39,708,169	40,840,666
Less Than One Month | Liquidity risk | Time deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	8,375,127	9,583,488
Less Than One Month | Liquidity risk | Saving deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	57,443,560	58,656,060
Less Than One Month | Liquidity risk | Other deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	582,122	471,645
Less Than One Month | Liquidity risk | Interbank and overnight funds
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	6,813,329	4,274,983
Less Than One Month | Liquidity risk | Borrowing from banks and other
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	1,665,739	1,963,636
Less Than One Month | Liquidity risk | Long-term debt
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	138,362	52,468
Less Than One Month | Liquidity risk | Borrowing from development entities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	145,712	36,954
Less Than One Month | Liquidity risk | Hedging derivatives Liabilities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	182,849	13,345
Less Than One Month | Liquidity risk | Other Liabilitiese
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	6,884,154	6,517,069
Less Than One Month | Liquidity risk | Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		913,190
Less Than One Month | Liquidity risk | Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		622,057
Less Than One Month | Liquidity risk | Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		649,833
Less Than One Month | Liquidity risk | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	576,072
Less Than One Month | Liquidity risk | Financial assets measured at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	163,389
Less Than One Month | Liquidity risk | Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,691,200
Less Than One Month | Liquidity risk | Commercial loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	12,524,966	14,641,827
Less Than One Month | Liquidity risk | Consumer loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	6,218,323	4,524,515
Less Than One Month | Liquidity risk | Mortgages and housing leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	297,155	263,314
Less Than One Month | Liquidity risk | Microcredit loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	58,093	49,932
Less Than One Month | Liquidity risk | Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	4,260,837	3,745,261
Less Than One Month | Liquidity risk | Trading Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	476,088	249,305
Less Than One Month | Liquidity risk | Hedging Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	28,941	52,122
Less Than One Month | Liquidity risk | Other assetss
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	631,231	482,636
Less Than One Month | Liquidity risk | Cash and cash equivalentss
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	28,450,114	23,420,225
From one to six months | Liquidity risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	41,724,636	47,767,497
Financial Obligations	37,432,342	34,737,201
Commitments Loans	9,950	156,226
From one to six months | Liquidity risk | Guarantees
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	9,742	2,158
From one to six months | Liquidity risk | Standby letters of credit
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	208	154,068
From one to six months | Liquidity risk | Trading derivatives Liabilities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	236,390	377,898
From one to six months | Liquidity risk | Time deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	26,030,729	21,734,913
From one to six months | Liquidity risk | Interbank and overnight funds
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations		166,891
From one to six months | Liquidity risk | Borrowing from banks and other
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	8,779,185	6,359,672
From one to six months | Liquidity risk | Long-term debt
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	904,752	5,780,195
From one to six months | Liquidity risk | Borrowing from development entities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	578,545	258,909
From one to six months | Liquidity risk | Hedging derivatives Liabilities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	6,587	119
From one to six months | Liquidity risk | Other Liabilitiese
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	896,154	58,605
From one to six months | Liquidity risk | Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		310,701
From one to six months | Liquidity risk | Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		1,968,847
From one to six months | Liquidity risk | Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		934,821
From one to six months | Liquidity risk | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	350,307
From one to six months | Liquidity risk | Financial assets measured at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,272,601
From one to six months | Liquidity risk | Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	447,674
From one to six months | Liquidity risk | Commercial loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	24,196,186	30,985,969
From one to six months | Liquidity risk | Consumer loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	12,707,647	12,114,983
From one to six months | Liquidity risk | Mortgages and housing leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,376,279	1,228,796
From one to six months | Liquidity risk | Microcredit loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	125,474	117,240
From one to six months | Liquidity risk | Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		238
From one to six months | Liquidity risk | Trading Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	244,385	103,245
From one to six months | Liquidity risk | Hedging Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	4,083	2,657
Six Month To Twelve Month | Liquidity risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	26,570,268	28,162,052
Financial Obligations	22,508,914	20,300,540
Commitments Loans	4,224
Six Month To Twelve Month | Liquidity risk | Guarantees
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	4,222
Six Month To Twelve Month | Liquidity risk | Standby letters of credit
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	2
Six Month To Twelve Month | Liquidity risk | Trading derivatives Liabilities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	20,305	3,918
Six Month To Twelve Month | Liquidity risk | Time deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	15,605,292	15,150,201
Six Month To Twelve Month | Liquidity risk | Borrowing from banks and other
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	4,490,249	4,262,502
Six Month To Twelve Month | Liquidity risk | Long-term debt
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	1,896,186	531,963
Six Month To Twelve Month | Liquidity risk | Borrowing from development entities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	423,122	301,372
Six Month To Twelve Month | Liquidity risk | Hedging derivatives Liabilities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	6,718
Six Month To Twelve Month | Liquidity risk | Other Liabilitiese
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	67,042	50,583
Six Month To Twelve Month | Liquidity risk | Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		619,023
Six Month To Twelve Month | Liquidity risk | Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		1,810,606
Six Month To Twelve Month | Liquidity risk | Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		1,576,581
Six Month To Twelve Month | Liquidity risk | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,026,669
Six Month To Twelve Month | Liquidity risk | Financial assets measured at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,547,078
Six Month To Twelve Month | Liquidity risk | Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	866,184
Six Month To Twelve Month | Liquidity risk | Commercial loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	13,982,791	15,378,967
Six Month To Twelve Month | Liquidity risk | Consumer loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	7,369,756	7,186,854
Six Month To Twelve Month | Liquidity risk | Mortgages and housing leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,626,730	1,434,850
Six Month To Twelve Month | Liquidity risk | Microcredit loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	128,180	119,397
Six Month To Twelve Month | Liquidity risk | Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	397	163
Six Month To Twelve Month | Liquidity risk | Trading Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	22,483	33,859
Six Month To Twelve Month | Liquidity risk | Hedging Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		1,752
More Than One Year | Liquidity risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	159,652,958	150,497,373
Financial Obligations	52,690,240	52,794,200
Commitments Loans	2,370	3,122
More Than One Year | Liquidity risk | Guarantees
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans	2,370	3,066
More Than One Year | Liquidity risk | Standby letters of credit
Disclosure Of Financial Risk Management Explanatory [Line Items]
Commitments Loans		56
More Than One Year | Liquidity risk | Trading derivatives Liabilities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	27,955	7,107
More Than One Year | Liquidity risk | Time deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	20,730,824	21,094,851
More Than One Year | Liquidity risk | Other deposits
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations		34,275
More Than One Year | Liquidity risk | Borrowing from banks and other
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	7,248,223	8,417,134
More Than One Year | Liquidity risk | Long-term debt
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	21,493,625	18,902,134
More Than One Year | Liquidity risk | Borrowing from development entities
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	3,189,314	4,338,700
More Than One Year | Liquidity risk | Other Liabilitiese
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial Obligations	299
More Than One Year | Liquidity risk | Financial assets at fair value through profit or loss, classified as held for trading, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		1,316,239
More Than One Year | Liquidity risk | Financial assets available-for-sale, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		18,818,121
More Than One Year | Liquidity risk | Held-to-maturity investments, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets		5,946
More Than One Year | Liquidity risk | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,018,209
More Than One Year | Liquidity risk | Financial assets measured at fair value through other comprehensive income, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	18,292,502
More Than One Year | Liquidity risk | Financial assets at amortised cost, category [member]
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	1,019
More Than One Year | Liquidity risk | Commercial loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	58,838,873	66,048,385
More Than One Year | Liquidity risk | Consumer loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	45,240,501	34,943,876
More Than One Year | Liquidity risk | Mortgages and housing leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	32,061,546	28,060,685
More Than One Year | Liquidity risk | Microcredit loans and leases
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	256,278	261,625
More Than One Year | Liquidity risk | Other Accounts Receivable
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	2,929,814	1,013,167
More Than One Year | Liquidity risk | Trading Derivatives
Disclosure Of Financial Risk Management Explanatory [Line Items]
Financial assets	$ 14,216	$ 29,329

RISK MANAGEMENT - Regulatory ca

RISK MANAGEMENT - Regulatory capital management (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Banco de Bogota S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Regulatory Capital	$ 17,730,918	$ 16,749,137
Basic ordinary equity	11,655,669	10,870,598
Basic additional equity	6,075,249	5,878,538
Market Risk	10,275,186	9,220,514
Credit Risk	120,604,192
Total assets weighted by risk	$ 130,879,378	$ 123,708,231
Total solvency risk index.	13.55%	13.54%
Basic solvency risk index.	8.91%	8.79%
Banco de Occidente S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Regulatory Capital	$ 3,917,005	$ 4,007,636
Basic ordinary equity	3,166,981	3,123,860
Basic additional equity	750,024	883,776
Market Risk	1,754,924	1,660,535
Credit Risk	29,405,386
Total assets weighted by risk	$ 31,160,310	$ 28,165,602
Total solvency risk index.	12.57%	13.44%
Basic solvency risk index.	10.16%	10.47%
Banco Popular S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Regulatory Capital	$ 2,170,075	$ 2,090,131
Basic ordinary equity	1,648,438	1,774,823
Basic additional equity	521,637	315,309
Market Risk	1,809,867	1,391,833
Credit Risk	19,624,155
Total assets weighted by risk	$ 21,434,022	$ 18,452,556
Total solvency risk index.	10.12%	10.53%
Basic solvency risk index.	7.69%	8.94%
Banco Comercial AV Villas S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Regulatory Capital	$ 1,176,179	$ 1,195,815
Basic ordinary equity	1,106,529	1,060,749
Basic additional equity	69,650	135,066
Market Risk	421,379	204,852
Credit Risk	10,759,423
Total assets weighted by risk	$ 11,180,802	$ 9,493,492
Total solvency risk index.	10.52%	12.33%
Basic solvency risk index.	9.90%	10.94%
Corporacion Financiera Colombiana S.A.
Disclosure Of Financial Risk Management Explanatory [Line Items]
Regulatory Capital	$ 3,631,640	$ 2,666,487
Basic ordinary equity	3,381,550	2,295,929
Basic additional equity	250,090	370,558
Market Risk	2,440,618	1,769,041
Credit Risk	7,834,598
Total assets weighted by risk	$ 10,275,216	$ 7,246,604
Total solvency risk index.	35.34%	36.80%
Basic solvency risk index.	32.91%	31.68%

RISK MANAGEMENT - Textual (Deta

RISK MANAGEMENT - Textual (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial Risk Management Explanatory [Line Items]
Collateralization of cash	$ 214,379	$ 12,205
Investment in debt instrument as a percentage of total portfolio	63.63%	61.26%
Percentage of average difference in foreign currency demoninated rights and foreign currency denominated obligations on consolidated basis	40.00%
Increase in interest income, Fifty Basis Point Increase in Interest rate	$ 965,789	$ 893,925
Increase in interest Expense, Fifty Basis Point Increase in Interest rate	1,039,332	973,911
Increase in interest income, Hundred Basis Point Increase in Interest rate	1,931,579	1,787,849
Increase in interest Expense, Hundred Basis Point Increase in Interest rate	$ 2,078,664	$ 1,947,823
Solvency Risk Ratio	9.00%
Basic Solvency Risk Ratio	4.50%
Sovereign
Disclosure Of Financial Risk Management Explanatory [Line Items]
LGD recovery rate weights	55.00%
Corporate
Disclosure Of Financial Risk Management Explanatory [Line Items]
LGD recovery rate weights	47.90%
Minimum
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of average difference in foreign currency demoninated rights and foreign currency denominated obligations on unconsolidated basis	20.00%
Minimum | 12-month ECL
Disclosure Of Financial Risk Management Explanatory [Line Items]
Probability of default, percentage	0.00%
Maximum
Disclosure Of Financial Risk Management Explanatory [Line Items]
Percentage of average difference in foreign currency demoninated rights and foreign currency denominated obligations on unconsolidated basis	30.00%
Maximum | 12-month ECL
Disclosure Of Financial Risk Management Explanatory [Line Items]
Probability of default, percentage	0.01%
Banco de Bogota S.A. | Market risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Market risk weighted assets as a percentage of total risk weighted assets	7.90%	7.50%
Banco de Occidente S.A. | Market risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Market risk weighted assets as a percentage of total risk weighted assets	5.60%	5.90%
Banco Popular S.A. | Market risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Market risk weighted assets as a percentage of total risk weighted assets	8.40%	7.50%
Banco Comercial AV Villas S.A. | Market risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Market risk weighted assets as a percentage of total risk weighted assets	3.80%	2.20%
Corficolombiana S.A | Market risk
Disclosure Of Financial Risk Management Explanatory [Line Items]
Market risk weighted assets as a percentage of total risk weighted assets	23.80%	32.30%

ESTIMATION OF FAIR VALUE - Meas

ESTIMATION OF FAIR VALUE - Measurements of fair value on a recurring basis (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			$ 3,762,978	$ 2,650,536
Total investments in debt securities available-for sale				17,790,127
Trading equity securities			2,672,648	2,149,160
Investments in equity securities available-for-sale				824,033
Biological assets	$ 25.9		84,206	66,139	[2]
Investment properties	$ 257.4		836,324	783,794	[2]
Equity financial instruments
Disclosure Of Estimations of Fair Value [Line Items]
Trading equity securities			2,672,648	2,149,160
Held for trading debt securities
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			3,762,978	2,650,536
Securities issued by other of the Colombian Government entities | Held for trading debt securities
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			128,546	70,064
Securities issued or secured by other financial entities | Held for trading debt securities
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			1,218,751	1,137,525
Others | Held for trading debt securities
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			4,848	66,833
Financial assets measured at fair value through other comprehensive income, category [member]
Disclosure Of Estimations of Fair Value [Line Items]
Total financial assets designated at fair value			18,935,757
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued or secured by other financial entities
Disclosure Of Estimations of Fair Value [Line Items]
Total financial assets designated at fair value			3,308,480
Investments in equity instruments designated at fair value through other comprehensive income [member]
Disclosure Of Estimations of Fair Value [Line Items]
Total financial assets designated at fair value			1,090,601
Recurring fair value measurement
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			3,762,978	2,650,536
Total investments in debt securities available-for sale				17,790,127
Total investments in debt securities			22,729,991	20,440,663
Trading equity securities			2,672,648	2,149,160
Investments in equity securities available-for-sale				824,033
Total equity securities			3,763,249	2,973,193
Total held for trading derivatives Assets			768,686	328,392
Total hedging derivatives Assets			30,138	55,261
Financial assets in concession contracts			2,488,414	2,282,611
Total financial assets designated at fair value				26,080,120
Total other account receivables designated at fair value			2,488,414
Biological assets			84,206	66,139
Investment properties			836,324	783,794
Total non- financial assets				849,933
Total assets at fair value on recurring basis			30,701,008	26,930,053
Total trading derivatives Liabilities			811,305	298,665
Total hedging derivatives Liabilities			195,539	13,464
Total liabilities at fair value on recurring basis			1,006,844	312,129
Recurring fair value measurement | Securities issued by the Colombian Government
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			2,270,642	1,231,219
Total investments in debt securities available-for sale				9,484,925
Recurring fair value measurement | Securities issued by other of the Colombian Government entities
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			128,546	70,064
Total investments in debt securities available-for sale				662,702
Recurring fair value measurement | Securities issued or secured by other financial entities
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			1,218,751	1,137,525
Total investments in debt securities available-for sale				3,618,077
Recurring fair value measurement | Securities issued by entities of the non-financial sector entities
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			29,122	17,869
Total investments in debt securities available-for sale				324,469
Recurring fair value measurement | Others
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			4,848	66,833
Total investments in debt securities available-for sale				238,683
Recurring fair value measurement | Securities issued by foreign Governments
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			98,155	92,931
Total investments in debt securities available-for sale				2,104,397
Recurring fair value measurement | Securities issued by central banks
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			12,914	34,095
Total investments in debt securities available-for sale				1,356,874
Recurring fair value measurement | Currency forward
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading derivatives Assets			617,799	223,955
Total hedging derivatives Assets			30,138	55,261
Total non- financial assets			920,530
Total trading derivatives Liabilities			589,021	144,572
Total hedging derivatives Liabilities			195,539	13,464
Recurring fair value measurement | Interest rate swap
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading derivatives Assets			43,181	52,970
Total trading derivatives Liabilities			32,380	40,693
Recurring fair value measurement | Currency swap
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading derivatives Assets			48,546	33,104
Total trading derivatives Liabilities			148,378	79,263
Recurring fair value measurement | Currency options
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading derivatives Assets			59,089	17,632
Total trading derivatives Liabilities			38,764	33,030
Recurring fair value measurement | Bond forward
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading derivatives Assets			71	731
Total trading derivatives Liabilities			2,730	1,107
Recurring fair value measurement | Bond futures
Disclosure Of Estimations of Fair Value [Line Items]
Total trading derivatives Liabilities			32
Recurring fair value measurement | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			3,794,234
Recurring fair value measurement | Financial assets at fair value through profit or loss, category [member] | Others
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			31,256
Recurring fair value measurement | Financial assets measured at fair value through other comprehensive income, category [member]
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			18,935,757
Recurring fair value measurement | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by the Colombian Government
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			10,525,774
Recurring fair value measurement | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by other of the Colombian Government entities
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			497,635
Recurring fair value measurement | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued or secured by other financial entities
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			3,308,480
Recurring fair value measurement | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by entities of the non-financial sector entities
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			209,940
Recurring fair value measurement | Financial assets measured at fair value through other comprehensive income, category [member] | Others
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			246,632
Recurring fair value measurement | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by foreign Governments
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			3,015,556
Recurring fair value measurement | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by central banks
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			1,131,740
Recurring fair value measurement | Investments in equity instruments designated at fair value through other comprehensive income [member]
Disclosure Of Estimations of Fair Value [Line Items]
Total equity securities			1,090,601
Recurring fair value measurement | Level 1 of fair value hierarchy
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			2,129,180	1,104,829
Total investments in debt securities available-for sale				8,154,503
Total investments in debt securities			10,941,238	9,259,332
Trading equity securities			3,060	28,659
Investments in equity securities available-for-sale				768,336
Total equity securities			938,797	796,995
Total financial assets designated at fair value				10,056,327
Total assets at fair value on recurring basis			11,880,035	10,056,327
Total trading derivatives Liabilities			32
Total liabilities at fair value on recurring basis			32
Recurring fair value measurement | Level 1 of fair value hierarchy | Securities issued by the Colombian Government
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			2,109,574	1,104,829
Total investments in debt securities available-for sale				7,668,545
Recurring fair value measurement | Level 1 of fair value hierarchy | Securities issued by other of the Colombian Government entities
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			19,606
Recurring fair value measurement | Level 1 of fair value hierarchy | Securities issued or secured by other financial entities
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities available-for sale				456,354
Recurring fair value measurement | Level 1 of fair value hierarchy | Securities issued by foreign Governments
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities available-for sale				29,604
Recurring fair value measurement | Level 1 of fair value hierarchy | Bond futures
Disclosure Of Estimations of Fair Value [Line Items]
Total trading derivatives Liabilities			32
Recurring fair value measurement | Level 1 of fair value hierarchy | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			2,129,180
Recurring fair value measurement | Level 1 of fair value hierarchy | Financial assets measured at fair value through other comprehensive income, category [member]
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			8,812,058
Recurring fair value measurement | Level 1 of fair value hierarchy | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by the Colombian Government
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			8,208,778
Recurring fair value measurement | Level 1 of fair value hierarchy | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by other of the Colombian Government entities
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			232,312
Recurring fair value measurement | Level 1 of fair value hierarchy | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued or secured by other financial entities
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			279,653
Recurring fair value measurement | Level 1 of fair value hierarchy | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by foreign Governments
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			91,315
Recurring fair value measurement | Level 1 of fair value hierarchy | Investments in equity instruments designated at fair value through other comprehensive income [member]
Disclosure Of Estimations of Fair Value [Line Items]
Total equity securities			935,737
Recurring fair value measurement | Level 2 of fair value hierarchy
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			1,633,798	1,532,732
Total investments in debt securities available-for sale				9,628,997
Total investments in debt securities			11,775,020	11,161,729
Trading equity securities			2,212,915	2,095,160
Investments in equity securities available-for-sale				55,697
Total equity securities			2,264,139	2,150,857
Total held for trading derivatives Assets			767,003	326,814
Total hedging derivatives Assets			30,138	55,261
Total financial assets designated at fair value				13,694,661
Total assets at fair value on recurring basis			14,836,300	13,694,661
Total trading derivatives Liabilities			805,494	296,853
Total hedging derivatives Liabilities			195,539	13,464
Total liabilities at fair value on recurring basis			1,001,033	310,317
Recurring fair value measurement | Level 2 of fair value hierarchy | Securities issued by the Colombian Government
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			161,068	126,390
Total investments in debt securities available-for sale				1,816,380
Recurring fair value measurement | Level 2 of fair value hierarchy | Securities issued by other of the Colombian Government entities
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			108,940	70,064
Total investments in debt securities available-for sale				662,702
Recurring fair value measurement | Level 2 of fair value hierarchy | Securities issued or secured by other financial entities
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			1,218,751	1,137,525
Total investments in debt securities available-for sale				3,161,723
Recurring fair value measurement | Level 2 of fair value hierarchy | Securities issued by entities of the non-financial sector entities
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			29,122	17,869
Total investments in debt securities available-for sale				324,469
Recurring fair value measurement | Level 2 of fair value hierarchy | Others
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			4,848	53,858
Total investments in debt securities available-for sale				232,056
Recurring fair value measurement | Level 2 of fair value hierarchy | Securities issued by foreign Governments
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			98,155	92,931
Total investments in debt securities available-for sale				2,074,793
Recurring fair value measurement | Level 2 of fair value hierarchy | Securities issued by central banks
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities			12,914	34,095
Total investments in debt securities available-for sale				1,356,874
Recurring fair value measurement | Level 2 of fair value hierarchy | Currency forward
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading derivatives Assets			616,116	222,377
Total hedging derivatives Assets			30,138	55,261
Total trading derivatives Liabilities			583,242	142,760
Total hedging derivatives Liabilities			195,539	13,464
Recurring fair value measurement | Level 2 of fair value hierarchy | Interest rate swap
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading derivatives Assets			43,181	52,970
Total trading derivatives Liabilities			32,380	40,693
Recurring fair value measurement | Level 2 of fair value hierarchy | Currency swap
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading derivatives Assets			48,546	33,104
Total trading derivatives Liabilities			148,378	79,263
Recurring fair value measurement | Level 2 of fair value hierarchy | Currency options
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading derivatives Assets			59,089	17,632
Total trading derivatives Liabilities			38,764	33,030
Recurring fair value measurement | Level 2 of fair value hierarchy | Bond forward
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading derivatives Assets			71	731
Total trading derivatives Liabilities			2,730	1,107
Recurring fair value measurement | Level 2 of fair value hierarchy | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			1,651,321
Recurring fair value measurement | Level 2 of fair value hierarchy | Financial assets at fair value through profit or loss, category [member] | Others
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			17,523
Recurring fair value measurement | Level 2 of fair value hierarchy | Financial assets measured at fair value through other comprehensive income, category [member]
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			10,123,699
Recurring fair value measurement | Level 2 of fair value hierarchy | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by the Colombian Government
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			2,316,996
Recurring fair value measurement | Level 2 of fair value hierarchy | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by other of the Colombian Government entities
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			265,323
Recurring fair value measurement | Level 2 of fair value hierarchy | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued or secured by other financial entities
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			3,028,827
Recurring fair value measurement | Level 2 of fair value hierarchy | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by entities of the non-financial sector entities
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			209,940
Recurring fair value measurement | Level 2 of fair value hierarchy | Financial assets measured at fair value through other comprehensive income, category [member] | Others
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			246,632
Recurring fair value measurement | Level 2 of fair value hierarchy | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by foreign Governments
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			2,924,241
Recurring fair value measurement | Level 2 of fair value hierarchy | Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by central banks
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			1,131,740
Recurring fair value measurement | Level 2 of fair value hierarchy | Investments in equity instruments designated at fair value through other comprehensive income [member]
Disclosure Of Estimations of Fair Value [Line Items]
Total equity securities			51,224
Recurring fair value measurement | Level 3 of fair value hierarchy
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities				12,975
Total investments in debt securities available-for sale				6,627
Total investments in debt securities			13,733	19,602
Trading equity securities			456,673	25,341
Total equity securities			560,313	25,341
Total held for trading derivatives Assets			1,683	1,578
Financial assets in concession contracts			2,488,414	2,282,611
Total financial assets designated at fair value				2,329,132
Total other account receivables designated at fair value			2,488,414
Biological assets			84,206	66,139
Investment properties			836,324	783,794
Total non- financial assets				849,933
Total assets at fair value on recurring basis			3,984,673	3,179,065
Total trading derivatives Liabilities			5,779	1,812
Total liabilities at fair value on recurring basis			5,779	1,812
Recurring fair value measurement | Level 3 of fair value hierarchy | Others
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading debt securities				12,975
Total investments in debt securities available-for sale				6,627
Recurring fair value measurement | Level 3 of fair value hierarchy | Currency forward
Disclosure Of Estimations of Fair Value [Line Items]
Total held for trading derivatives Assets			1,683	1,578
Total non- financial assets			920,530
Total trading derivatives Liabilities			5,779	$ 1,812
Recurring fair value measurement | Level 3 of fair value hierarchy | Financial assets at fair value through profit or loss, category [member]
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			13,733
Recurring fair value measurement | Level 3 of fair value hierarchy | Financial assets at fair value through profit or loss, category [member] | Others
Disclosure Of Estimations of Fair Value [Line Items]
Total investments in debt securities			13,733
Recurring fair value measurement | Level 3 of fair value hierarchy | Investments in equity instruments designated at fair value through other comprehensive income [member]
Disclosure Of Estimations of Fair Value [Line Items]
Total equity securities			$ 103,640
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

ESTIMATION OF FAIR VALUE - Me_2

ESTIMATION OF FAIR VALUE - Measurements at fair value on a non-recurring basis (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	Dec. 31, 2015COP ($)
Disclosure Of Estimations of Fair Value [Line Items]
Non-current assets held for sale	$ 57.5		$ 186,714	$ 101,382	[2]	$ 259,527	$ 199,475
Non-recurring fair value measurement
Disclosure Of Estimations of Fair Value [Line Items]
Impaired collateralized loans			896,257	701,948
Non-current assets held for sale			186,714	101,382
Assets held for sale			1,082,971	803,330
Level 3 of fair value hierarchy | Non-recurring fair value measurement
Disclosure Of Estimations of Fair Value [Line Items]
Impaired collateralized loans			896,257	701,948
Non-current assets held for sale			186,714	101,382
Assets held for sale			$ 1,082,971	$ 803,330
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

ESTIMATION OF FAIR VALUE - Mort

ESTIMATION OF FAIR VALUE - Mortgage-Backed Securities (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Baseline scenario
Disclosure Of Estimations of Fair Value [Line Items]
Sensitivity of fair value of mortgage-backed securities	$ 13,733	$ 19,602
Favorable scenario
Disclosure Of Estimations of Fair Value [Line Items]
Sensitivity of fair value of mortgage-backed securities	57	80
Unfavorable scenario
Disclosure Of Estimations of Fair Value [Line Items]
Sensitivity of fair value of mortgage-backed securities	$ (63)	$ (95)

ESTIMATION OF FAIR VALUE - Valu

ESTIMATION OF FAIR VALUE - Valuation of equity instruments Level 3 (Details) - Level 3 of fair value hierarchy $ in Millions	12 Months Ended
	Dec. 31, 2018COP ($)item
Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Fair Value	$ 45,219
Favorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	4,841
Unfavorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ (4,898)
Comparable multiples / Recent transaction price - EBITDA Number of times | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Increase in variation by number of times | item	1
Decrease in variation by number of times | item	(1)
Comparable multiples / Recent transaction price - EBITDA Number of times | Favorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ 1,819
Comparable multiples / Recent transaction price - EBITDA Number of times | Unfavorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ (1,823)
Adjusted Net Asset Value -Most relevant variable in assets | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Increase in variation by number of times | item	10
Decrease in variation by number of times | item	(10)
Adjusted Net Asset Value -Most relevant variable in assets | Favorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ 221
Adjusted Net Asset Value -Most relevant variable in assets | Unfavorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ (177)
Option one | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Increase in variation (as a percent)	1.00%
Decrease in variation (as a percent)	(1.00%)
Option one | Favorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ 204
Option one | Unfavorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ (134)
Option two | Later than five years [member] | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Increase in variation (as a percent)	1.00%
Decrease in variation (as a percent)	(1.00%)
Option two | Later than five years [member] | Favorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ 60
Option two | Later than five years [member] | Unfavorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ (147)
Option three
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Decrease in variation by number of times | item	30
Option three | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Increase in variation by number of times | item	30
Option three | Favorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ 135
Option three | Unfavorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ (101)
Option four | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Increase in variation by number of times | item	1
Decrease in variation by number of times | item	(1)
Option four | Favorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ 743
Option four | Unfavorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ (741)
Option one, income | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Increase in variation (as a percent)	1.00%
Decrease in variation (as a percent)	(1.00%)
Option one, income | Favorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ 710
Option one, income | Unfavorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ (674)
Option two, income | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Decrease in variation (as a percent)	(1.00%)
Option two, income | Favorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ 352
Option two, income | Unfavorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ (529)
Adjusted discounted cash flow - Discount interest rates | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Increase in variation by number of times | item	50
Decrease in variation by number of times | item	(50)
Adjusted discounted cash flow - Discount interest rates | Favorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ 597
Adjusted discounted cash flow - Discount interest rates | Unfavorable scenario | Equity investments [member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity analysis of investments	$ (572)

ESTIMATION OF FAIR VALUE - Sens

ESTIMATION OF FAIR VALUE - Sensitivity analysis (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
WACC
Disclosure Of Estimations of Fair Value [Line Items]
+100 bps	$ (637,463)	$ (608,164)
-100 bps	979,778	949,005
Growth rate
Disclosure Of Estimations of Fair Value [Line Items]
+100 bps	550,567	520,052
-100 bps	$ (387,696)	$ (362,867)

ESTIMATION OF FAIR VALUE - Yiel

ESTIMATION OF FAIR VALUE - Yield per hectare of rubber crops (Details)	Dec. 31, 2018T
Year seven
Disclosure Of Estimations of Fair Value [Line Items]
Tons of rubber per hectare per year	0.60
Year Eight
Disclosure Of Estimations of Fair Value [Line Items]
Tons of rubber per hectare per year	0.90
Year Nine
Disclosure Of Estimations of Fair Value [Line Items]
Tons of rubber per hectare per year	1.40
Year 10 and other
Disclosure Of Estimations of Fair Value [Line Items]
Tons of rubber per hectare per year	1.80

ESTIMATION OF FAIR VALUE - Yi_2

ESTIMATION OF FAIR VALUE - Yield per hectare of palm crops (Details)	Dec. 31, 2018T
Weighted Average
Disclosure Of Estimations of Fair Value [Line Items]
Tons of fresh fruit per hectare	18
Later than three years and not later than four years [member]
Disclosure Of Estimations of Fair Value [Line Items]
Tons of fresh fruit per hectare	4
Later than four years and not later than five years [member]
Disclosure Of Estimations of Fair Value [Line Items]
Tons of fresh fruit per hectare	10
Later than five years and not later than six years [member]
Disclosure Of Estimations of Fair Value [Line Items]
Tons of fresh fruit per hectare	12
Later than six years and not later than seven years [member]
Disclosure Of Estimations of Fair Value [Line Items]
Tons of fresh fruit per hectare	22
7 to 18
Disclosure Of Estimations of Fair Value [Line Items]
Tons of fresh fruit per hectare	22
More than 18
Disclosure Of Estimations of Fair Value [Line Items]
Tons of fresh fruit per hectare	36

ESTIMATION OF FAIR VALUE - Extr

ESTIMATION OF FAIR VALUE - Extraction rate (Details)	12 Months Ended
	Dec. 31, 2018
Weighted Average
Disclosure Of Estimations of Fair Value [Line Items]
Extraction rate	22.00%
0 to 3
Disclosure Of Estimations of Fair Value [Line Items]
Extraction rate	19.00%
Later than three years and not later than four years [member]
Disclosure Of Estimations of Fair Value [Line Items]
Extraction rate	23.00%
Later than four years and not later than five years [member]
Disclosure Of Estimations of Fair Value [Line Items]
Extraction rate	23.00%
Later than five years and not later than six years [member]
Disclosure Of Estimations of Fair Value [Line Items]
Extraction rate	23.00%
Later than six years and not later than seven years [member]
Disclosure Of Estimations of Fair Value [Line Items]
Extraction rate	23.00%
7 to 18
Disclosure Of Estimations of Fair Value [Line Items]
Extraction rate	23.00%
More than 18
Disclosure Of Estimations of Fair Value [Line Items]
Extraction rate	21.00%

ESTIMATION OF FAIR VALUE - Se_2

ESTIMATION OF FAIR VALUE - Sensitivity analysis of Biological Assets at fair value (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018COP ($)$ / T	Dec. 31, 2017COP ($)$ / T
Rubber Plantation | Crude palm oil, 5 percent higher [member]
Disclosure Of Estimations of Fair Value [Line Items]
Reference price USD/ton | $ / T	1,597	1,620
Value of the biological Effect on profits	$ 44,615	$ 25,366
Profits before taxes	$ 20,457	$ 10,762
Rubber Plantation | Crude palm oil, baseline [member]
Disclosure Of Estimations of Fair Value [Line Items]
Reference price USD/ton | $ / T	1,521	1,543
Value of the biological Effect on profits	$ 41,533	$ 24,158
Profits before taxes	$ 17,375	$ 9,554
Rubber Plantation | Crude palm oil, 5 percent lower [member]
Disclosure Of Estimations of Fair Value [Line Items]
Reference price USD/ton | $ / T	1,445	1,466
Value of the biological Effect on profits	$ 38,451	$ 22,950
Profits before taxes	$ 14,293	$ 8,346
African Palm Plantation | Crude palm oil, 5 percent higher [member]
Disclosure Of Estimations of Fair Value [Line Items]
Reference price USD/ton | $ / T	705	683
Value of the biological Effect on profits	$ 32,786	$ 27,883
Profits before taxes	$ 6,231	$ 5,068
African Palm Plantation | Crude palm oil, baseline [member]
Disclosure Of Estimations of Fair Value [Line Items]
Reference price USD/ton | $ / T	671	651
Value of the biological Effect on profits	$ 29,783	$ 26,555
Profits before taxes	$ 3,228	$ 3,740
African Palm Plantation | Crude palm oil, 5 percent lower [member]
Disclosure Of Estimations of Fair Value [Line Items]
Reference price USD/ton | $ / T	638	618
Value of the biological Effect on profits	$ 26,779	$ 25,228
Profits before taxes	$ 224	$ 2,412

ESTIMATION OF FAIR VALUE - Tran

ESTIMATION OF FAIR VALUE - Transfers between level 1 and level 2 of the fair value hierarchy (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Held for trading debt securities | Level one to two
Disclosure Of Estimations of Fair Value [Line Items]
Debt instruments held		$ 362
Available for sale debt securities | Level one to two
Disclosure Of Estimations of Fair Value [Line Items]
Debt instruments held		188,773
Financial assets at fair value through other comprehensive income, category [member]
Disclosure Of Estimations of Fair Value [Line Items]
Debt instruments held	$ 203,094
Financial assets at fair value through other comprehensive income, category [member] | Level two to one
Disclosure Of Estimations of Fair Value [Line Items]
Debt instruments held	246,870
Securities issued by the Colombian Government | Held for trading debt securities | Level one to two
Disclosure Of Estimations of Fair Value [Line Items]
Debt instruments held		49
Securities issued by the Colombian Government | Available for sale debt securities | Level one to two
Disclosure Of Estimations of Fair Value [Line Items]
Debt instruments held		28,104
Securities issued by the Colombian Government | Financial assets at fair value through other comprehensive income, category [member]
Disclosure Of Estimations of Fair Value [Line Items]
Debt instruments held	14,081
Securities issued by the Colombian Government | Financial assets at fair value through other comprehensive income, category [member] | Level two to one
Disclosure Of Estimations of Fair Value [Line Items]
Debt instruments held	17,668
Securities issued by other financial institutions | Available for sale debt securities | Level one to two
Disclosure Of Estimations of Fair Value [Line Items]
Debt instruments held		65,209
Securities issued by other financial institutions | Financial assets at fair value through other comprehensive income, category [member]
Disclosure Of Estimations of Fair Value [Line Items]
Debt instruments held	189,013
Securities issued by other of the Colombian Government entities | Held for trading debt securities | Level one to two
Disclosure Of Estimations of Fair Value [Line Items]
Debt instruments held		313
Securities issued by other of the Colombian Government entities | Available for sale debt securities | Level one to two
Disclosure Of Estimations of Fair Value [Line Items]
Debt instruments held		9,908
Securities issued by other of the Colombian Government entities | Financial assets at fair value through other comprehensive income, category [member] | Level two to one
Disclosure Of Estimations of Fair Value [Line Items]
Debt instruments held	$ 229,202
Securities issued by entities of the non-financial sector entities | Available for sale debt securities | Level one to two
Disclosure Of Estimations of Fair Value [Line Items]
Debt instruments held		$ 85,552

ESTIMATION OF FAIR VALUE - Reco

ESTIMATION OF FAIR VALUE - Reconciliation Level 3 of the fair value hierarchy (Details) $ in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2018USD ($)	[2]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of fair value measurement of assets [line items]
Assets at the beginning of the period	[1]			$ 236,538,540
Assets at the end of the period		$ 79,906.2		259,675,153	$ 236,538,540	[1]
Financial assets in concession | Recurring fair value measurement | Level 3 of fair value hierarchy
Disclosure of fair value measurement of assets [line items]
Assets at the beginning of the period				2,282,611	2,072,674		$ 1,891,692
Valuation adjustment with an effect on income				205,803	209,937		180,982
Assets at the end of the period				2,488,414	2,282,611		2,072,674
Debt securities | Recurring fair value measurement | Level 3 of fair value hierarchy
Disclosure of fair value measurement of assets [line items]
Assets at the beginning of the period				19,602	27,377		36,077
Valuation adjustment with an effect on income				(5,119)	765		750
Valuation adjustments with an effect on OCI					(8,540)		(9,450)
Sales/redemptions				(750)
Assets at the end of the period				13,733	19,602		27,377
Equity financial instruments | Recurring fair value measurement | Level 3 of fair value hierarchy
Disclosure of fair value measurement of assets [line items]
Assets at the beginning of the period				25,341
Adoption IFRS 9				102,214
Valuation adjustment with an effect on income				9,207
Valuation adjustments with an effect on OCI				1,426
Reclassification				25,989	25,341
Additions				396,136
Assets at the end of the period				560,313	25,341
Equity financial instruments | Recurring fair value measurement | Level 3 of fair value hierarchy | Banco de Bogota S.A.
Disclosure of fair value measurement of assets [line items]
Additions				330,350
Equity financial instruments | Recurring fair value measurement | Level 3 of fair value hierarchy | Banco Popular S.A.
Disclosure of fair value measurement of assets [line items]
Additions				24,222
Equity financial instruments | Recurring fair value measurement | Level 3 of fair value hierarchy | Alpopular
Disclosure of fair value measurement of assets [line items]
Additions				41,070
Equity financial instruments | Recurring fair value measurement | Level 3 of fair value hierarchy | Fiduciaria Popular
Disclosure of fair value measurement of assets [line items]
Additions				494
Biological assets | Recurring fair value measurement | Level 3 of fair value hierarchy
Disclosure of fair value measurement of assets [line items]
Assets at the beginning of the period				66,139	48,002		240,212
Valuation adjustment with an effect on income				20,606	13,503		14,644
Reclassification of bearer plants balance							(188,177)
Effects of amendments in accounting policies of bearer plants							(18,108)
Reclassification				(96)			(1,331)
Additions				20,900	24,409		21,432
Sales/redemptions				(23,343)	(19,775)		(20,670)
Assets at the end of the period				84,206	66,139		48,002
Investment property | Recurring fair value measurement | Level 3 of fair value hierarchy
Disclosure of fair value measurement of assets [line items]
Assets at the beginning of the period				783,794	610,188		538,246
Valuation adjustment with an effect on income				39,415	46,675		53,680
Transfers to non-current assets held for sale				19,719	101,469		11,319
Reclassification				10,780	(30,143)		(2,539)
Additions				61,300	84,036		71,268
Sales/redemptions				(78,684)	(28,431)		(61,786)
Assets at the end of the period				$ 836,324	$ 783,794		$ 610,188
[1]	See note 2.32, Changes in presentation.
[2]	See note 2.4, “convenience translation into U.S. dollars”.

ESTIMATION OF FAIR VALUE - Fair

ESTIMATION OF FAIR VALUE - Fair value of financial assets recognized at amortized cost (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of financial assets [line items]
Financial assets	$ 245,105,338	$ 222,154,907
Debt securities
Disclosure of financial assets [line items]
Financial assets		20,689,166
Held-to-maturity investments, category [member]
Disclosure of financial assets [line items]
Financial assets		2,899,039
Held-to-maturity investments, category [member] | Debt securities
Disclosure of financial assets [line items]
Financial assets		2,899,039
Financial assets at fair value		2,928,929
Financial assets at amortised cost, category [member]
Disclosure of financial assets [line items]
Financial assets	215,324,860	26,802,972
Financial assets at amortised cost, category [member] | Debt securities
Disclosure of financial assets [line items]
Financial assets	2,972,616
Financial assets at fair value	2,984,973
Loan and other accounts receivable
Disclosure of financial assets [line items]
Financial assets		166,372,776
Loan and other accounts receivable | Credit portfolio
Disclosure of financial assets [line items]
Financial assets	168,685,654	160,754,295
Financial assets at fair value	176,228,181	166,303,676
Certain financial assets at amortised cost, held-to-maturity investments, and loans and receivables, category [member]
Disclosure of financial assets [line items]
Financial assets	171,658,270	163,653,334
Financial assets at fair value	$ 179,213,154	$ 169,232,605

ESTIMATION OF FAIR VALUE - Fa_2

ESTIMATION OF FAIR VALUE - Fair value of financial liabilities recognized at amortized cost (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of financial liabilities [line items]
Financial liabilities	$ 216,578,285	$ 200,473,389
Customer deposits
Disclosure of financial liabilities [line items]
Financial liabilities	164,359,451	154,885,224
Financial obligations
Disclosure of financial liabilities [line items]
Financial liabilities	51,211,990	45,276,036
Amortized cost
Disclosure of financial liabilities [line items]
Financial liabilities	215,571,441	200,161,260
Financial liabilities at fair value	216,494,271	200,218,936
Amortized cost | Customer deposits
Disclosure of financial liabilities [line items]
Financial liabilities	164,359,451	154,885,224
Financial liabilities at fair value	164,682,493	154,805,726
Amortized cost | Financial obligations
Disclosure of financial liabilities [line items]
Financial liabilities	51,211,990	45,276,036
Financial liabilities at fair value	$ 51,811,778	$ 45,413,210

ESTIMATION OF FAIR VALUE - Text

ESTIMATION OF FAIR VALUE - Textual (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018COP ($)$ / T	Dec. 31, 2017COP ($)	Dec. 31, 2018$ / T	Dec. 31, 2018COP ($)
Disclosure Of Estimations of Fair Value [Line Items]
Range of growth rate	3.00%	1.00%
Weighted average cost of capital, significant unobservable inputs, assets	9.35%	8.64%
Price of natural rubber	0.47		1,521
Price of african palm per ton | $ / T			671
Transfers out of fair values between levels	$ 0	$ 0
Transfers in of fair values between levels	$ 0	$ 0
Global Markets database
Disclosure Of Estimations of Fair Value [Line Items]
Cost of equity	16.75%	15.23%
Cost of Debt	6.29%	5.84%
Weighted average cost of capital	10.74%	11.71%
Agriculture
Disclosure Of Estimations of Fair Value [Line Items]
Cost of equity	16.75%	15.23%
Cost of Debt	6.29%	5.84%
Weighted average cost of capital	10.74%	11.71%
Baseline scenario | Minimum
Disclosure Of Estimations of Fair Value [Line Items]
Constant prepayment rate, significant unobservable inputs, assets	9.25%	12.40%
Baseline scenario | Maximum
Disclosure Of Estimations of Fair Value [Line Items]
Constant prepayment rate, significant unobservable inputs, assets	10.90%	15.80%
Favorable scenario
Disclosure Of Estimations of Fair Value [Line Items]
Constant prepayment rate, significant unobservable inputs, assets	10.00%
Unfavorable scenario
Disclosure Of Estimations of Fair Value [Line Items]
Constant prepayment rate, significant unobservable inputs, assets	20.00%
Service concession arrangements
Disclosure Of Estimations of Fair Value [Line Items]
Financial assets at fair value through profit or loss		$ 2,282,611		$ 2,488,414

CLASSIFICATION OF FINANCIAL A_3

CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Debt securities	$ 3,762,978	$ 2,650,536
Financial assets	245,105,338	222,154,907
Financial liabilities	216,578,285	200,473,389
Derivative liabilities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities	811,305	298,665
Hedging derivative liabilities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities	195,539	13,464
Customer deposits
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities	164,359,451	154,885,224
Financial obligations
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities	51,211,990	45,276,036
Cash and cash equivalents
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	28,401,283	22,336,838
Trading assets
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	7,204,312	5,128,088
Debt securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Debt securities	3,762,978
Financial assets		20,689,166
Equity financial instruments
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	2,672,648
Derivatives
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	768,686	328,392
Investment securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	23,030,230	21,513,199
Investment equity securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		824,033
Loans
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	176,881,841
Loans and receivables
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		166,372,776
Other Accounts Receivable
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	9,557,534	6,748,745
Hedging derivative assets
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	30,138	55,261
At fair value | Debt securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		2,650,536
At fair value | Investment securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	20,057,614
At fair value | Other Accounts Receivable
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	2,488,414
At amortized cost | Equity financial instruments
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		2,149,160
At amortized cost | Investment securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	2,972,616
At amortized cost | Other Accounts Receivable
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	7,069,120
Amortized cost
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities	215,571,441	200,161,260
Amortized cost | Customer deposits
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities	164,359,451	154,885,224
Amortized cost | Financial obligations
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities	51,211,990	45,276,036
Mandatorily at FVTPL
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	9,754,120
Mandatorily at FVTPL | Trading assets
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	7,204,312
Mandatorily at FVTPL | Debt securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Debt securities	3,762,978
Mandatorily at FVTPL | Equity financial instruments
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	2,672,648
Mandatorily at FVTPL | Derivatives
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	768,686
Mandatorily at FVTPL | Investment securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	31,256
Mandatorily at FVTPL | Other Accounts Receivable
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	2,488,414
Mandatorily at FVTPL | Hedging derivative assets
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	30,138
Mandatorily at FVTPL | At fair value | Investment securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	31,256
Mandatorily at FVTPL | At fair value | Other Accounts Receivable
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	2,488,414
Mandatorily at FVTPL | Mandatorily at FVTPL
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities	1,006,844
Mandatorily at FVTPL | Mandatorily at FVTPL | Derivative liabilities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities	811,305
Mandatorily at FVTPL | Mandatorily at FVTPL | Hedging derivative liabilities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities	195,539
Designated as at FVTPL
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		2,337,872
Designated as at FVTPL | Other Accounts Receivable
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		2,282,611
Designated as at FVTPL | Hedging derivative assets
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		55,261
Designated as at FVTPL | Designated as at FVTPL
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities		13,464
Designated as at FVTPL | Designated as at FVTPL | Hedging derivative liabilities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities		13,464
Financial assets measured at fair value through other comprehensive income, category [member]
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	18,935,757
Financial assets measured at fair value through other comprehensive income, category [member] | Investment securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	18,935,757
Financial assets measured at fair value through other comprehensive income, category [member] | At fair value | Investment securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	18,935,757
Investments in equity instruments designated at fair value through other comprehensive income [member]
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	1,090,601
Investments in equity instruments designated at fair value through other comprehensive income [member] | Investment securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	1,090,601
Investments in equity instruments designated at fair value through other comprehensive income [member] | At fair value | Investment securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	1,090,601
Financial assets at amortised cost, category [member]
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	215,324,860	26,802,972
Financial liabilities		200,161,260
Financial assets at amortised cost, category [member] | Financial obligations
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities		45,276,036
Financial assets at amortised cost, category [member] | Cash and cash equivalents
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	28,401,283	22,336,838
Financial assets at amortised cost, category [member] | Debt securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	2,972,616
Financial assets at amortised cost, category [member] | Investment securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	2,972,616
Financial assets at amortised cost, category [member] | Loans
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	176,881,841
Financial assets at amortised cost, category [member] | Other Accounts Receivable
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	7,069,120	4,466,134
Financial assets at amortised cost, category [member] | At amortized cost | Investment securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	2,972,616
Financial assets at amortised cost, category [member] | At amortized cost | Other Accounts Receivable
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	7,069,120
Financial assets at amortised cost, category [member] | Amortized cost
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities	215,571,441
Financial assets at amortised cost, category [member] | Amortized cost | Customer deposits
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities	164,359,451	154,885,224
Financial assets at amortised cost, category [member] | Amortized cost | Financial obligations
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities	51,211,990
Financial assets at fair value through profit or loss, classified as held for trading, category [member]
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		5,128,088
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Trading assets
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		5,128,088
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Debt securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets	$ 3,762,978	2,650,536
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Derivatives
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		328,392
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | At fair value | Debt securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		2,650,536
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | At amortized cost | Equity financial instruments
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		2,149,160
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Trading
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities		298,665
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | Trading | Derivative liabilities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial liabilities		298,665
Held-to-maturity investments, category [member]
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		2,899,039
Held-to-maturity investments, category [member] | Debt securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		2,899,039
Held-to-maturity investments, category [member] | Investment securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		2,899,039
Loan and other accounts receivable
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		166,372,776
Loan and other accounts receivable | Loans and receivables
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		166,372,776
Financial assets available-for-sale, category [member]
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		18,614,160
Financial assets available-for-sale, category [member] | Debt securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		17,790,127
Financial assets available-for-sale, category [member] | Investment securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		18,614,160
Financial assets available-for-sale, category [member] | Investment equity securities
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets		$ 824,033

CASH AND CASH EQUIVALENTS (Deta

CASH AND CASH EQUIVALENTS (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017USD ($)	[1]	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	[3]	Dec. 31, 2015COP ($)	[3]
Disclosure of cash and cash equivalents [Line Items]
Total cash and cash equivalents	$ 8,739.5		$ 28,401,283	$ 6,873.4		$ 22,336,838	[2],[3]	$ 22,193,004		$ 22,284,977
Colombian Pesos
Disclosure of cash and cash equivalents [Line Items]
Cash			4,489,637			4,100,166
Deposits in the Colombian central bank			3,794,412			3,820,539
Demand deposits in banks and other financial entities			559,181			312,661
Clearing houses			3,428			1,733
Investments in debt securities maturing in under three months			2,449			28,603
Restricted cash			254,280			366,584
Total cash and cash equivalents			9,103,387			8,630,286
Foreign currency
Disclosure of cash and cash equivalents [Line Items]
Cash			1,955,745			1,704,861
Demand deposits in banks and other financial entities			17,342,151			11,999,859
Restricted cash						1,832
Total cash and cash equivalents			$ 19,297,896			$ 13,706,552
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.
[3]	See note 2.5 “Changes in accounting policies”.

CASH AND CASH EQUIVALENTS - Tex

CASH AND CASH EQUIVALENTS - Textual (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of cash and cash equivalents [Abstract]
Cash reserves	$ 8,291,372	$ 7,679,587

TRADING ASSETS AND LIABILITIE_2

TRADING ASSETS AND LIABILITIES (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Trading assets
Debt securities			$ 3,762,978	$ 2,650,536
Equity securities			2,672,648	2,149,160
Derivative assets			768,686	328,392
Trading assets	$ 2,216.9		7,204,312	5,128,088	[2]
Trading liabilities
Derivative liabilities	$ 249.7		811,305	298,665	[2]
Trading liabilities			811,305	298,665
Total trading assets and liabilities net			$ 6,393,007	$ 4,829,423
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

TRADING ASSETS AND LIABILITIE_3

TRADING ASSETS AND LIABILITIES - Investments in debt securities at fair value (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Trading Assets And Liabilities [Line Items]
Investments in debt securities at fair value through profit or loss	$ 3,762,978	$ 2,650,536
Held for trading debt securities
Disclosure Of Trading Assets And Liabilities [Line Items]
Investments in debt securities at fair value through profit or loss	3,762,978	2,650,536
Held for trading debt securities | Securities issued or secured by Colombian Government
Disclosure Of Trading Assets And Liabilities [Line Items]
Investments in debt securities at fair value through profit or loss	2,270,642	1,231,219
Held for trading debt securities | Securities issued by other of the Colombian Government entities
Disclosure Of Trading Assets And Liabilities [Line Items]
Investments in debt securities at fair value through profit or loss	128,546	70,064
Held for trading debt securities | Securities issued by foreign Governments
Disclosure Of Trading Assets And Liabilities [Line Items]
Investments in debt securities at fair value through profit or loss	98,155	92,931
Held for trading debt securities | Securities issued by central banks
Disclosure Of Trading Assets And Liabilities [Line Items]
Investments in debt securities at fair value through profit or loss	12,914	34,095
Held for trading debt securities | Securities issued or secured by other financial entities
Disclosure Of Trading Assets And Liabilities [Line Items]
Investments in debt securities at fair value through profit or loss	1,218,751	1,137,525
Held for trading debt securities | Securities issued by non-financial sector entities
Disclosure Of Trading Assets And Liabilities [Line Items]
Investments in debt securities at fair value through profit or loss	29,122	17,869
Held for trading debt securities | Others
Disclosure Of Trading Assets And Liabilities [Line Items]
Investments in debt securities at fair value through profit or loss	$ 4,848	$ 66,833

TRADING ASSETS AND LIABILITIE_4

TRADING ASSETS AND LIABILITIES - Investments in equity securities at fair value (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Trading Assets And Liabilities [Line Items]
Financial assets at fair value through profit or loss classified as held equity securities	$ 2,672,648	$ 2,149,160
Restricted investment funds related to Concesionaria Nueva
Disclosure Of Trading Assets And Liabilities [Line Items]
Financial assets at fair value through profit or loss classified as held equity securities	46,276
Restricted investment funds related to Concesionaria Vial Del Pacífico
Disclosure Of Trading Assets And Liabilities [Line Items]
Financial assets at fair value through profit or loss classified as held equity securities	$ 18,218
Pension and severance funds
Disclosure Of Trading Assets And Liabilities [Line Items]
Percentage of total assets of funds to be invested in mandatory severance and pension funds	1.00%
Equity financial instruments
Disclosure Of Trading Assets And Liabilities [Line Items]
Financial assets at fair value through profit or loss classified as held equity securities	$ 2,672,648	2,149,160
Equity financial instruments | Colombian Pesos
Disclosure Of Trading Assets And Liabilities [Line Items]
Financial assets at fair value through profit or loss classified as held equity securities	2,617,012	2,086,138
Equity financial instruments | Colombian Pesos | Corporate stock
Disclosure Of Trading Assets And Liabilities [Line Items]
Financial assets at fair value through profit or loss classified as held equity securities	3,060	4,188
Equity financial instruments | Colombian Pesos | Investment Funds
Disclosure Of Trading Assets And Liabilities [Line Items]
Financial assets at fair value through profit or loss classified as held equity securities	1,162,260	802,941
Equity financial instruments | Colombian Pesos | Pension and severance funds
Disclosure Of Trading Assets And Liabilities [Line Items]
Financial assets at fair value through profit or loss classified as held equity securities	1,451,692	1,279,009
Equity financial instruments | Foreign currency
Disclosure Of Trading Assets And Liabilities [Line Items]
Financial assets at fair value through profit or loss classified as held equity securities	55,636	63,022
Equity financial instruments | Foreign currency | Corporate stock
Disclosure Of Trading Assets And Liabilities [Line Items]
Financial assets at fair value through profit or loss classified as held equity securities	32,733	49,812
Equity financial instruments | Foreign currency | Investment Funds
Disclosure Of Trading Assets And Liabilities [Line Items]
Financial assets at fair value through profit or loss classified as held equity securities	$ 22,903	$ 13,210

TRADING ASSETS AND LIABILITIE_5

TRADING ASSETS AND LIABILITIES - Held-for-trading derivative assets and liabilities financial instruments (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative assets			$ 768,686	$ 328,392
Derivative liabilities	$ 249.7		811,305	298,665	[2]
Net derivatives trading			(42,619)	29,727
Forward contracts
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative assets			617,870	224,686
Derivative liabilities			591,751	145,679
Forward contracts, Foreign currency to buy
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative assets			599,987	60,799
Derivative liabilities			22,175	120,083
Forward contracts, Foreign currency to sell
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative assets			17,811	163,156
Derivative liabilities			566,846	24,489
Forward contracts, Debt securities to buy
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative assets			50	357
Derivative liabilities				171
Forward contracts, Debt securities to sell
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative assets			22	374
Derivative liabilities			2,730	936
Swap
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative assets			91,727	86,074
Derivative liabilities			180,758	119,956
Currency swap
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative assets			48,546	33,104
Derivative liabilities			148,378	79,263
Interest rate swap
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative assets			43,181	52,970
Derivative liabilities			32,380	40,693
Futures Contracts
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative liabilities			32
Futures Contracts, Debt securities to buy
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative liabilities			32
Options Contracts
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative assets			59,089	17,632
Derivative liabilities			38,764	33,030
Options Contracts, Foreign currency to buy
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative assets			59,089
Derivative liabilities				33,030
Options Contracts, Foreign currency to sell
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative liabilities			$ 38,764
Options Contracts, Debt securities to buy
Disclosure Of Trading Assets And Liabilities [Line Items]
Derivative assets				$ 17,632
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

TRADING ASSETS AND LIABILITIE_6

TRADING ASSETS AND LIABILITIES - Trading assets in debt securities pledged as collateral (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Pledged in money market operations and pledged as collateral
Disclosure Of Trading Assets And Liabilities [Line Items]
Held-for-trading	$ 1,139,782	$ 843,075
Pledged in money market operations and pledged as collateral | Held for trading debt securities
Disclosure Of Trading Assets And Liabilities [Line Items]
Held-for-trading	1,139,782	843,075
Pledged in money market operations
Disclosure Of Trading Assets And Liabilities [Line Items]
Held-for-trading	1,105,591	813,783
Pledged as collateral to special entities such as CRCC, BR and BVC
Disclosure Of Trading Assets And Liabilities [Line Items]
Held-for-trading	34,191	29,292
Securities issued by central banks | Pledged in money market operations
Disclosure Of Trading Assets And Liabilities [Line Items]
Held-for-trading	11,533	5,217
Securities issued by foreign Governments | Pledged in money market operations
Disclosure Of Trading Assets And Liabilities [Line Items]
Held-for-trading	51,055	54,644
Securities issued or secured by Colombian Government | Pledged in money market operations
Disclosure Of Trading Assets And Liabilities [Line Items]
Held-for-trading	1,027,436	744,332
Securities issued or secured by Colombian Government | Pledged as collateral to special entities such as CRCC, BR and BVC
Disclosure Of Trading Assets And Liabilities [Line Items]
Held-for-trading	34,191	29,292
Securities issued or secured by other financial entities | Pledged in money market operations
Disclosure Of Trading Assets And Liabilities [Line Items]
Held-for-trading	$ 15,567	$ 9,590

INVESTMENT SECURITIES - Balance

INVESTMENT SECURITIES - Balances of investment securities (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of investment securities
Total investment securities			$ 23,030,230
Loss impairment			(71)
Total investment securities net	$ 7,086.7		23,030,159	$ 21,513,199	[2]
Investments in debt securities available for sale				17,790,127
Investments in debt securities held to maturity				2,899,039
Investments in equity securities available-for-sale				$ 824,033
Financial assets at fair value through profit or loss, category [member]
Disclosure of investment securities
Total investment securities			31,256
Financial assets measured at fair value through other comprehensive income, category [member]
Disclosure of investment securities
Total investment securities			18,935,757
Financial assets at amortised cost, category [member]
Disclosure of investment securities
Total investment securities			2,972,616
Loss impairment			(71)
Investments in equity instruments designated at fair value through other comprehensive income [member]
Disclosure of investment securities
Total investment securities			$ 1,090,601
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

INVESTMENT SECURITIES - Investm

INVESTMENT SECURITIES - Investments in debt securities at fair value through profit or loss (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of investment securities
Financial assets	$ 245,105,338	$ 222,154,907
Financial assets at fair value through profit or loss, category [member]
Disclosure of investment securities
Financial assets	31,256
Securities issued by other issuers | Financial assets at fair value through profit or loss, category [member]
Disclosure of investment securities
Financial assets	$ 31,256

INVESTMENT SECURITIES - Inves_2

INVESTMENT SECURITIES - Investments in debt securities at fair value through OCI (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Debt securities
Available-for-sale financial assets
Cost	$ 17,777,863
Unrealized Gain	136,620
Unrealized Losses	(124,356)
Fair Value	17,790,127
Debt securities | Securities issued or secured by Colombian Government
Available-for-sale financial assets
Cost	9,442,457
Unrealized Gain	77,571
Unrealized Losses	(35,103)
Fair Value	9,484,925
Debt securities | Securities issued or secured by other Colombian Government entities
Available-for-sale financial assets
Cost	656,294
Unrealized Gain	13,251
Unrealized Losses	(6,843)
Fair Value	662,702
Debt securities | Securities issued by foreign Governments
Available-for-sale financial assets
Cost	2,113,106
Unrealized Gain	8,655
Unrealized Losses	(17,364)
Fair Value	2,104,397
Debt securities | Securities issued by central banks
Available-for-sale financial assets
Cost	1,359,924
Unrealized Gain	739
Unrealized Losses	(3,789)
Fair Value	1,356,874
Debt securities | Securities issued or secured by other financial entities
Available-for-sale financial assets
Cost	3,621,311
Unrealized Gain	11,853
Unrealized Losses	(15,087)
Fair Value	3,618,077
Debt securities | Securities issued by non-financial sector entities
Available-for-sale financial assets
Cost	347,285
Unrealized Gain	21,725
Unrealized Losses	(44,541)
Fair Value	324,469
Debt securities | Securities issued by others
Available-for-sale financial assets
Cost	237,486
Unrealized Gain	2,826
Unrealized Losses	(1,629)
Fair Value	$ 238,683
Financial assets measured at fair value through other comprehensive income, category [member]
Disclosure of financial assets [line items]
Cost		$ 19,073,395
Unrealized Gain		83,040
Unrealized Losses		(220,678)
Fair Value		18,935,757
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued or secured by Colombian Government
Disclosure of financial assets [line items]
Cost		10,517,512
Unrealized Gain		65,724
Unrealized Losses		(57,462)
Fair Value		10,525,774
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued or secured by other Colombian Government entities
Disclosure of financial assets [line items]
Cost		496,936
Unrealized Gain		3,581
Unrealized Losses		(2,882)
Fair Value		497,635
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by foreign Governments
Disclosure of financial assets [line items]
Cost		3,042,595
Unrealized Gain		9,209
Unrealized Losses		(36,248)
Fair Value		3,015,556
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by central banks
Disclosure of financial assets [line items]
Cost		1,133,337
Unrealized Gain		1,058
Unrealized Losses		(2,655)
Fair Value		1,131,740
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued or secured by other financial entities
Disclosure of financial assets [line items]
Cost		3,352,299
Unrealized Gain		3,191
Unrealized Losses		(47,010)
Fair Value		3,308,480
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by non-financial sector entities
Disclosure of financial assets [line items]
Cost		278,838
Unrealized Gain		156
Unrealized Losses		(69,054)
Fair Value		209,940
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by others
Disclosure of financial assets [line items]
Cost		251,878
Unrealized Gain		121
Unrealized Losses		(5,367)
Fair Value		$ 246,632

INVESTMENT SECURITIES - Inves_3

INVESTMENT SECURITIES - Investments in debt securities at fair value through OCI (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
INVESTMENT SECURITIES
Redemptions or sales	$ 43,574	$ 73,953	$ 25,911
ECL allowance (2017 and 2016: Impairment loss allowance)	31,809		(70,146)
Total reclassified to profit or loss	$ 75,383	$ 73,953	$ (44,235)

INVESTMENT SECURITIES - Inves_4

INVESTMENT SECURITIES - Investments in debt securities at amortized cost (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of investment securities
Financial assets	$ 245,105,338	$ 222,154,907
Held-to-maturity investments		2,899,039
Financial assets at amortised cost, category [member]
Disclosure of investment securities
Financial assets	215,324,860	26,802,972
Debt securities | Financial assets at amortised cost, category [member]
Disclosure of investment securities
Financial assets	2,972,616
Held-to-maturity investments		2,899,039
Financial assets pledged as collateral for liabilities or contingent liabilities	0	0
Debt securities | Financial assets at amortised cost, category [member] | Up to 1 month
Disclosure of investment securities
Financial assets	671,047
Held-to-maturity investments		722,026
Debt securities | Financial assets at amortised cost, category [member] | More than 1 month and no more than 3 months
Disclosure of investment securities
Financial assets	12,787
Held-to-maturity investments		38,071
Debt securities | Financial assets at amortised cost, category [member] | More than 3 months and no more than 1 year
Disclosure of investment securities
Financial assets	2,287,755
Held-to-maturity investments		2,133,344
Debt securities | Financial assets at amortised cost, category [member] | Later than one year and not later than five years [member]
Disclosure of investment securities
Financial assets	1,027
Held-to-maturity investments		5,598
Debt securities | Financial assets at amortised cost, category [member] | Securities issued or secured by Colombian Government
Disclosure of investment securities
Held-to-maturity investments		424
Debt securities | Financial assets at amortised cost, category [member] | Securities issued or secured by other Colombian Government entities
Disclosure of investment securities
Financial assets	2,931,172
Held-to-maturity investments		2,839,286
Debt securities | Financial assets at amortised cost, category [member] | Securities issued by foreign Governments
Disclosure of investment securities
Financial assets	32,321
Held-to-maturity investments		26,864
Debt securities | Financial assets at amortised cost, category [member] | Securities issued or secured by other financial entities
Disclosure of investment securities
Financial assets	$ 9,123
Held-to-maturity investments		$ 32,465

INVESTMENT SECURITIES - Inves_5

INVESTMENT SECURITIES - Investments in equity securities at fair value through OCI (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Equity securities available for sale
Available-for-sale financial assets
Cost	$ 276,904
Unrealized Gain	547,204
Unrealized Losses	(75)
Fair Value	824,033
Equity securities available for sale | Colombian Pesos | Corporate stock
Available-for-sale financial assets
Cost	276,452
Unrealized Gain	541,520
Unrealized Losses	(75)
Fair Value	817,897
Equity securities available for sale | Foreign currency | Corporate stock
Available-for-sale financial assets
Cost	452
Unrealized Gain	5,684
Fair Value	$ 6,136
Investments in equity instruments designated at fair value through other comprehensive income [member]
Disclosure of financial assets [line items]
Cost		$ 606,328
Unrealized Gain		487,594
Unrealized Losses		(3,321)
Fair Value		1,090,601
Investments in equity instruments designated at fair value through other comprehensive income [member] | Colombian Pesos | Corporate stock
Disclosure of financial assets [line items]
Cost		593,611
Unrealized Gain		476,023
Unrealized Losses		(3,314)
Fair Value		1,066,320
Investments in equity instruments designated at fair value through other comprehensive income [member] | Foreign currency | Corporate stock
Disclosure of financial assets [line items]
Cost		12,717
Unrealized Gain		11,571
Unrealized Losses		(7)
Fair Value		$ 24,281

INVESTMENT SECURITIES - Equity

INVESTMENT SECURITIES - Equity instruments through OCI (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of investment securities
Dividend income	$ 71,487	$ 50,439	$ 28,027
Equity financial instruments
Disclosure of investment securities
FVOCI equity securities	1,090,601
Available for sale equity instruments		824,033
Equity financial instruments | Empresa de Energia de Bogota S.A. E.S.P.
Disclosure of investment securities
FVOCI equity securities	841,279
Available for sale equity instruments		659,208
Equity financial instruments | Gas Natural S.A. ESP
Disclosure of investment securities
FVOCI equity securities	43,460
Available for sale equity instruments		49,998
Equity financial instruments | Mineros S.A.
Disclosure of investment securities
FVOCI equity securities	45,706
Available for sale equity instruments		56,546
Equity financial instruments | Bolsa de Valores de Colombia S.A.
Disclosure of investment securities
FVOCI equity securities	48,351
Available for sale equity instruments		52,064
Equity financial instruments | Sociedades Portuarias
Disclosure of investment securities
FVOCI equity securities	28,897
Equity financial instruments | Master Card
Disclosure of investment securities
FVOCI equity securities	7,526
Available for sale equity instruments		5,634
Equity financial instruments | Others
Disclosure of investment securities
FVOCI equity securities	$ 75,382
Available for sale equity instruments		$ 583

INVESTMENT SECURITIES - Inves_6

INVESTMENT SECURITIES - Investment assets in debt securities through OCI pledged as collateral (Details) - Debt securities - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Investment Securities [Line items]
FVOCI Debt securities	$ 4,198,537
Debt securities, available-for-sale		$ 3,115,459
Pledged in money market operations
Disclosure Of Investment Securities [Line items]
FVOCI Debt securities	3,558,237
Debt securities, available-for-sale		2,586,894
Pledged in money market operations | Securities issued by foreign Governments
Disclosure Of Investment Securities [Line items]
FVOCI Debt securities	202,300
Debt securities, available-for-sale		148,816
Pledged in money market operations | Securities issued or secured by Colombian Government
Disclosure Of Investment Securities [Line items]
FVOCI Debt securities	3,195,548
Debt securities, available-for-sale		2,215,568
Pledged in money market operations | Securities issued by other colombian government entities
Disclosure Of Investment Securities [Line items]
FVOCI Debt securities	63,605
Debt securities, available-for-sale		133,701
Pledged in money market operations | Securities issued or secured by other financial entities
Disclosure Of Investment Securities [Line items]
FVOCI Debt securities	57,182
Debt securities, available-for-sale		38,536
Pledged in money market operations | Securities issued by others
Disclosure Of Investment Securities [Line items]
FVOCI Debt securities	39,602
Debt securities, available-for-sale		50,273
Pledged as derivative collateral instruments
Disclosure Of Investment Securities [Line items]
FVOCI Debt securities	1,087
Debt securities, available-for-sale		77,736
Pledged as derivative collateral instruments | Securities issued or secured by Colombian Government
Disclosure Of Investment Securities [Line items]
FVOCI Debt securities	1,087
Debt securities, available-for-sale		77,736
Pledged as collateral to special entities such as CRCC, BR and BVC
Disclosure Of Investment Securities [Line items]
FVOCI Debt securities	471,579
Debt securities, available-for-sale		291,878
Pledged as collateral to special entities such as CRCC, BR and BVC | Securities issued or secured by Colombian Government
Disclosure Of Investment Securities [Line items]
FVOCI Debt securities	471,579
Debt securities, available-for-sale		291,878
Other collaterals
Disclosure Of Investment Securities [Line items]
FVOCI Debt securities	167,634
Debt securities, available-for-sale		158,951
Other collaterals | Securities issued or secured by central banks
Disclosure Of Investment Securities [Line items]
FVOCI Debt securities	$ 167,634
Debt securities, available-for-sale		$ 158,951

HEDGE ACCOUNTING - Changes in t

HEDGE ACCOUNTING - Changes in the fluctuation (Details)	12 Months Ended
	Dec. 31, 2018item	Dec. 31, 2017item	Dec. 31, 2016item
Disclosure of detailed information about hedges [abstract]
Value of US 1	3,249.75	2,984	3,000.71
Variation	265.75	(16.71)	(148.76)

HEDGE ACCOUNTING - Net Investme

HEDGE ACCOUNTING - Net Investment in Foreign Operations (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)	Dec. 31, 2016COP ($)
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Translation adjustment of the investments	$ 346.1		$ 1,124,732	$ (47,197)	$ (475,000)
Exchange difference of financial liabilities	(177.5)		(576,881)	30,568	35,819
Exchange difference in forward contracts	$ (168.4)		(547,310)	$ 16,832	$ 291,506
Net OCI account			541
Leasing Bogota Panama S.A.
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Translation adjustment of the investments			1,064,099
Exchange difference of financial liabilities			(549,336)
Exchange difference in forward contracts			(514,343)
Net OCI account			420
Other subsidiaries and branches Banco de Bogota
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Translation adjustment of the investments			33,088
Exchange difference in forward contracts			(32,967)
Net OCI account			121
Occidental Bank Barbados
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Translation adjustment of the investments			5,866
Exchange difference of financial liabilities			(5,866)
Banco de Occidente S.A.
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Translation adjustment of the investments			5,598
Exchange difference of financial liabilities			(5,598)
Sociedad Portuaria El Cayao S.A. E.S.P.
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Translation adjustment of the investments			7,865
Exchange difference of financial liabilities			(7,865)
Gases del Pacifico S.A.C.
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Translation adjustment of the investments			1,492
Exchange difference of financial liabilities			(1,492)
Gas Natural de Lima y Callao S.A.C. - Calidda
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Translation adjustment of the investments			6,724
Exchange difference of financial liabilities			$ (6,724)
[1]	See note 2.4, “convenience translation into U.S. dollars”.

HEDGE ACCOUNTING - Hedging oper

HEDGE ACCOUNTING - Hedging operations (Details) $ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018COP ($)	Dec. 31, 2017USD ($)	Dec. 31, 2017COP ($)
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Net OCI account	$ 541
Leasing Bogota Panama S.A.
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Net OCI account	420
Other subsidiaries and branches Banco de Bogota
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Net OCI account	121
Hedges of net investment in foreign operations
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Investment amount			$ 4,204,704		$ 3,997,933
Amount of hedge by financial liabilities in foreign currency			(2,169,060)		(2,169,649)
Amount of hedge by forward contracts			(2,017,464)		(1,815,058)
Cumulative translation adjustment of the investments				$ 4,336,004		$ 3,211,272
Exchange difference of financial liabilities	(1,675,850)	$ (1,098,972)
Exchange difference in forward contracts	(2,793,229)	(2,245,919)
Net OCI account	(133,075)	(133,619)
Hedges of net investment in foreign operations | Leasing Bogota Panama S.A.
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Investment amount			3,964,051		3,781,475
Amount of hedge by financial liabilities in foreign currency			(2,067,100)		(2,067,100)
Amount of hedge by forward contracts			(1,896,348)		(1,703,009)
Cumulative translation adjustment of the investments				4,129,381		3,065,281
Exchange difference of financial liabilities	(1,595,205)	(1,045,872)
Exchange difference in forward contracts	(2,669,831)	(2,155,488)
Net OCI account	(135,655)	(136,079)
Hedges of net investment in foreign operations | Other subsidiaries and branches Banco de Bogota
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Investment amount			126,380		113,909
Amount of hedge by forward contracts			(121,116)		(112,049)
Cumulative translation adjustment of the investments				125,978		92,891
Exchange difference in forward contracts	(123,398)	(90,431)
Net OCI account	2,580	2,460
Hedges of net investment in foreign operations | Occidental Bank Barbados
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Investment amount			23,971		26,396
Amount of hedge by financial liabilities in foreign currency			(23,971)		(26,396)
Cumulative translation adjustment of the investments				24,606		18,740
Exchange difference of financial liabilities	(24,606)	(18,740)
Hedges of net investment in foreign operations | Banco de Occidente S.A.
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Investment amount			23,439		25,044
Amount of hedge by financial liabilities in foreign currency			(23,439)		(25,044)
Cumulative translation adjustment of the investments				35,577		29,979
Exchange difference of financial liabilities	(35,577)	(29,979)
Hedges of net investment in foreign operations | Sociedad Portuaria El Cayao S.A. E.S.P.
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Investment amount			31,214		25,000
Amount of hedge by financial liabilities in foreign currency			(31,214)		(25,000)
Cumulative translation adjustment of the investments				10,072		2,207
Exchange difference of financial liabilities	(10,072)	(2,207)
Hedges of net investment in foreign operations | Gases del Pacifico S.A.C.
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Investment amount			4,000		10,214
Amount of hedge by financial liabilities in foreign currency			(4,000)		(10,214)
Cumulative translation adjustment of the investments				2,394		902
Exchange difference of financial liabilities	(2,394)	(902)
Hedges of net investment in foreign operations | Gas Natural de Lima y Callao S.A.C. - Calidda
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Investment amount			31,649		15,895
Amount of hedge by financial liabilities in foreign currency			$ (19,336)		$ (15,895)
Cumulative translation adjustment of the investments				$ 7,996		$ 1,272
Exchange difference of financial liabilities	$ (7,996)	$ (1,272)

HEDGE ACCOUNTING - Cash flow he

HEDGE ACCOUNTING - Cash flow hedges (Details) - Cash flow hedges $ in Millions	Dec. 31, 2018COP ($)item	Dec. 31, 2017COP ($)item
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Income in U.S. dollars forecasted | $	$ 120,265	$ 41,614
Notional amount contracts forward U.S. dollars | item	120,265	41,614
% hedged	100.00%	100.00%
Fair value in Colombian pesos | $	$ (13,414)	$ 4,303
# of contracts | item	1,470	468

HEDGE ACCOUNTING - Accumulated

HEDGE ACCOUNTING - Accumulated OCI (Details) $ in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2018USD ($)	[2]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Balance at the beginning of the year	[1]			$ 786,866
Balance at the end of the year		$ 214.4		696,773	$ 786,866	[1]
Cash flow hedges
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Balance at the beginning of the year				5,447	7,419		$ (11,757)
Changes in the fair value of the hedge forward contracts				(19,513)	24,874		14,139
Transferred to profit or loss				(276)	(26,846)		5,037
Balance at the end of the year				$ (14,343)	$ 5,447		$ 7,419
[1]	See note 2.32, Changes in presentation.
[2]	See note 2.4, “convenience translation into U.S. dollars”.

HEDGE ACCOUNTING - Financial In

HEDGE ACCOUNTING - Financial Instruments for Hedging (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Total hedge derivatives, net	$ (165,401)	$ 41,797
Forward contracts
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Assets	30,138	55,261
Liabilities	195,539	13,464
Forward contracts | Foreign currency to buy
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Assets	28,367	1
Liabilities	1,128	5,455
Forward contracts | Foreign currency to sell
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Assets	1,771	55,260
Liabilities	$ 194,411	$ 8,009

HEDGE ACCOUNTING - Textual (Det

HEDGE ACCOUNTING - Textual (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)	Dec. 31, 2016COP ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Nov. 02, 2016USD ($)	Dec. 21, 2015USD ($)
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Other financial liabilities				$ 102	$ 103
Reclassification adjustments on cash flow hedges, net of tax	$ (276)	$ (26,846)	$ 5,037
Intra group liability
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Gains (losses) on exchange differences of intra group liability	$ 73,708
Foreign investment hedging
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Hedging instrument, liabilities							$ 500
Minimum
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Percentage of hedging effectiveness				80
Maximum
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Percentage of hedging effectiveness				125
Leasing Bogota Panama S.A. | Foreign investment hedging
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Hedging instrument, assets								$ 500
Hedges of net investment in foreign operations | Leasing Bogota Panama S.A. | Foreign investment hedging
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Bonds issued designated as hedging instruments					$ 2,067	$ 2,067
Cash flow hedges | Banco de Bogota S.A.
Discloser Of Derivative Instruments and Hedge Accounting [Line Items]
Hedging instrument, liabilities							$ 500

LOANS - Credit Portfolio (Detai

LOANS - Credit Portfolio (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	Dec. 31, 2015COP ($)
Disclosure of loans and receivables [Line Items]
Gross balance of loan portfolio	$ 54,429.4		$ 176,881,841	$ 166,372,776	[2]
Allowance for impairment losses	(2,522.1)		(8,196,187)	(5,618,481)	[2]	$ (4,261,444)	$ (3,718,324)
Net balance of loan portfolio	$ 51,907.3		168,685,654	160,754,295	[2]
General purpose loans
Disclosure of loans and receivables [Line Items]
Gross balance of loan portfolio			65,923,472	64,153,372
Personal loans
Disclosure of loans and receivables [Line Items]
Gross balance of loan portfolio			33,791,703	30,553,566
Mortgage
Disclosure of loans and receivables [Line Items]
Gross balance of loan portfolio			17,279,362	15,103,533
Allowance for impairment losses			(257,243)	(130,882)		(124,100)	(95,102)
Credit cards
Disclosure of loans and receivables [Line Items]
Gross balance of loan portfolio			15,550,920	13,846,823
Working capital loans
Disclosure of loans and receivables [Line Items]
Gross balance of loan portfolio			15,192,830	14,723,490
Commercial financial leases
Disclosure of loans and receivables [Line Items]
Gross balance of loan portfolio			9,858,952	9,892,402
Interbank and overnight funds
Disclosure of loans and receivables [Line Items]
Gross balance of loan portfolio			7,635,188	7,279,047
Automobile and vehicle loans
Disclosure of loans and receivables [Line Items]
Gross balance of loan portfolio			5,951,793	5,896,640
Loans funded by development banks
Disclosure of loans and receivables [Line Items]
Gross balance of loan portfolio			3,222,754	2,713,818
Housing leases
Disclosure of loans and receivables [Line Items]
Gross balance of loan portfolio			1,312,741	1,047,766
Overdrafts
Disclosure of loans and receivables [Line Items]
Gross balance of loan portfolio			481,946	525,867
Microcredit
Disclosure of loans and receivables [Line Items]
Gross balance of loan portfolio			425,697	409,688
Allowance for impairment losses			(88,177)	(74,167)		$ (63,137)	$ (49,206)
Consumer financial leases
Disclosure of loans and receivables [Line Items]
Gross balance of loan portfolio			$ 254,483	$ 226,764
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

LOANS - Loan Portfolio by Matur

LOANS - Loan Portfolio by Maturity (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of loans and receivables [Line Items]
Loans and receivables	$ 54,429.4		$ 176,881,841	$ 166,372,776	[2]
Total gross loan portfolio
Disclosure of loans and receivables [Line Items]
Loans and receivables			176,881,841	166,372,776
Commercial loans
Disclosure of loans and receivables [Line Items]
Loans and receivables			92,550,025	89,536,494
Commercial loans | Total gross loan portfolio
Disclosure of loans and receivables [Line Items]
Loans and receivables			92,550,025	89,536,494
Consumer
Disclosure of loans and receivables [Line Items]
Loans and receivables			55,200,581	50,156,131
Consumer | Total gross loan portfolio
Disclosure of loans and receivables [Line Items]
Loans and receivables			55,200,581	50,156,131
Mortgage
Disclosure of loans and receivables [Line Items]
Loans and receivables			17,279,362	15,103,533
Mortgage | Total gross loan portfolio
Disclosure of loans and receivables [Line Items]
Loans and receivables			17,279,362	15,103,533
Microcredit
Disclosure of loans and receivables [Line Items]
Loans and receivables			425,697	409,688
Microcredit | Total gross loan portfolio
Disclosure of loans and receivables [Line Items]
Loans and receivables			425,697	409,688
Financial Leasing
Disclosure of loans and receivables [Line Items]
Loans and receivables			11,426,176	11,166,930
Not later than one year [member] | Total gross loan portfolio
Disclosure of loans and receivables [Line Items]
Loans and receivables			64,777,016	63,967,315
Not later than one year [member] | Commercial loans
Disclosure of loans and receivables [Line Items]
Loans and receivables			46,119,981	44,888,149
Not later than one year [member] | Consumer
Disclosure of loans and receivables [Line Items]
Loans and receivables			15,798,783	16,240,350
Not later than one year [member] | Mortgage
Disclosure of loans and receivables [Line Items]
Loans and receivables			287,133	469,702
Not later than one year [member] | Microcredit
Disclosure of loans and receivables [Line Items]
Loans and receivables			226,651	209,364
Not later than one year [member] | Financial Leasing
Disclosure of loans and receivables [Line Items]
Loans and receivables			2,344,468	2,159,750
Later than one year and not later than three years [member] | Total gross loan portfolio
Disclosure of loans and receivables [Line Items]
Loans and receivables			32,831,433	34,651,451
Later than one year and not later than three years [member] | Commercial loans
Disclosure of loans and receivables [Line Items]
Loans and receivables			18,810,647	19,651,034
Later than one year and not later than three years [member] | Consumer
Disclosure of loans and receivables [Line Items]
Loans and receivables			10,507,521	11,146,916
Later than one year and not later than three years [member] | Mortgage
Disclosure of loans and receivables [Line Items]
Loans and receivables			504,727	785,736
Later than one year and not later than three years [member] | Microcredit
Disclosure of loans and receivables [Line Items]
Loans and receivables			182,245	178,052
Later than one year and not later than three years [member] | Financial Leasing
Disclosure of loans and receivables [Line Items]
Loans and receivables			2,826,293	2,889,713
Later than three years and not later than five years [member] | Total gross loan portfolio
Disclosure of loans and receivables [Line Items]
Loans and receivables			25,520,914	23,269,625
Later than three years and not later than five years [member] | Commercial loans
Disclosure of loans and receivables [Line Items]
Loans and receivables			11,234,938	11,088,553
Later than three years and not later than five years [member] | Consumer
Disclosure of loans and receivables [Line Items]
Loans and receivables			10,794,506	8,809,557
Later than three years and not later than five years [member] | Mortgage
Disclosure of loans and receivables [Line Items]
Loans and receivables			676,978	857,039
Later than three years and not later than five years [member] | Microcredit
Disclosure of loans and receivables [Line Items]
Loans and receivables			13,345	17,707
Later than three years and not later than five years [member] | Financial Leasing
Disclosure of loans and receivables [Line Items]
Loans and receivables			2,801,147	2,496,769
Later than five years [member] | Total gross loan portfolio
Disclosure of loans and receivables [Line Items]
Loans and receivables			53,752,478	44,484,385
Later than five years [member] | Commercial loans
Disclosure of loans and receivables [Line Items]
Loans and receivables			16,384,459	13,908,758
Later than five years [member] | Consumer
Disclosure of loans and receivables [Line Items]
Loans and receivables			18,099,771	13,959,308
Later than five years [member] | Mortgage
Disclosure of loans and receivables [Line Items]
Loans and receivables			15,810,524	12,991,056
Later than five years [member] | Microcredit
Disclosure of loans and receivables [Line Items]
Loans and receivables			3,456	4,565
Later than five years [member] | Financial Leasing
Disclosure of loans and receivables [Line Items]
Loans and receivables			$ 3,454,268	$ 3,620,698
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

LOANS - Interest income by port

LOANS - Interest income by portfolio (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of loans and receivables [Line Items]
Total interest income by portfolio	$ 5,351.4		$ 17,390,615	$ 17,899,967	[2]	$ 16,665,516	[2]
Commercial loans
Disclosure of loans and receivables [Line Items]
Total interest income by portfolio			7,559,392	8,420,789		8,100,635
Consumer
Disclosure of loans and receivables [Line Items]
Total interest income by portfolio			8,280,113	8,087,403		7,312,009
Mortgage
Disclosure of loans and receivables [Line Items]
Total interest income by portfolio			1,442,638	1,278,001		1,135,929
Microcredit
Disclosure of loans and receivables [Line Items]
Total interest income by portfolio			$ 108,472	$ 113,774		$ 116,943
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

LOANS - Financial Leasing (Deta

LOANS - Financial Leasing (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of loans and receivables [Abstract]
Total gross rent payments receivable	$ 17,372,906	$ 16,445,998
Less amounts representing running costs (such as taxes, maintenance, insurances ,etc.,)	(286)	(225)
Plus Estimated residual amount of assets given for rental (without guarantee)	36,166	21,673
Gross investment in contracts of financial leasing	17,408,786	16,467,446
Less unrealized financial income	(5,982,610)	(5,300,516)
Net investment in contracts of financial leasing	11,426,176	11,166,930
Impairment of net investment in financial leasing	$ (471,007)	$ (297,319)

LOANS - Financial Leasing Contr

LOANS - Financial Leasing Contracts Receivable (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of loans and receivables [Line Items]
Gross investment	$ 17,408,786	$ 16,467,446
Net investment	11,426,176	11,166,930
Not later than one year [member]
Disclosure of loans and receivables [Line Items]
Gross investment	2,296,714	2,147,421
Net investment	1,579,195	1,614,889
Later than one year and not later than five years [member]
Disclosure of loans and receivables [Line Items]
Gross investment	6,799,539	6,428,242
Net investment	4,870,790	4,986,723
Later than five years [member]
Disclosure of loans and receivables [Line Items]
Gross investment	8,312,533	7,891,783
Net investment	$ 4,976,191	$ 4,565,318

LOANS - Textual (Details)

LOANS - Textual (Details)	12 Months Ended
	Dec. 31, 2018
Vehicles and computer equipment [Member]
Disclosure of loans and receivables [Line Items]
Borrowings, maturity	36 and 60
Machinery and equipments [Member]
Disclosure of loans and receivables [Line Items]
Borrowings, maturity	60 to 120
Housing leasing [Member]
Disclosure of loans and receivables [Line Items]
Borrowings, maturity	120 to 240

OTHER ACCOUNTS RECEIVABLE, NE_2

OTHER ACCOUNTS RECEIVABLE, NET - Net of Impairment Losses (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of other accounts receivables [Abstract]
Contract assets			$ 5,119,649	$ 3,068,629
Other accounts receivables			4,437,885	3,680,116
Total other accounts receivable			9,557,534	6,748,745
Impairment allowance			(256,891)	(226,862)
Total other accounts receivables, net	$ 2,862		$ 9,300,643	$ 6,521,883	[2]
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

OTHER ACCOUNTS RECEIVABLE, NE_3

OTHER ACCOUNTS RECEIVABLE, NET - Contract Assets (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of other accounts receivables [Line Items]
Financial assets in concession arrangements rights	$ 5,119,649	$ 3,068,629
Impairment allowance	(966)
Total contract assets	5,118,683	3,068,629
Service concession arrangement [member] | At fair value
Disclosure of other accounts receivables [Line Items]
Financial assets in concession arrangements rights	2,488,414	2,282,611
Service concession arrangement [member] | Amortized Cost
Disclosure of other accounts receivables [Line Items]
Financial assets in concession arrangements rights	$ 2,631,235	$ 786,018

OTHER ACCOUNTS RECEIVABLE, NE_4

OTHER ACCOUNTS RECEIVABLE, NET - Measured at Amortization costs (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of other accounts receivables [Abstract]
Accounts receivables for goods and services sales in non-financial sector companies	$ 962,364	$ 1,070,936
Debtors	406,079	224,340
Guarantee deposits in foreign currency transactions	377,751	142,168
Credit card compensations and network compensation	372,702	426,090
Payment in advance	370,144	228,765
Transfers In Process	330,941	185,634
Dormant customer deposits ICETEX	279,219	256,806
Commissions	244,669	186,646
Fees, services and advances	241,147	224,418
Payment in advance to supplier's contract	151,313	117,858
Holding and parent establishment	136,551	114,513
Accounts receivable to payment offices	69,996	34,432
Transfers to the National Treasury	61,046	58,042
Storage services	40,265	43,767
Quota shares retirement pensions	29,768	28,485
Promissory sellers	20,785	15,144
Claims to insurance companies	14,142	14,450
Deductible taxes	10,234	11,961
Payment in advance for industry and trade taxes	9,563	13,392
Dividends	1,086	3,561
Others	308,120	278,708
Gross balance of other accounts receivable	4,437,885	3,680,116
Impairment allowance	(255,925)	(226,862)
Total other accounts receivables, net	$ 4,181,960	$ 3,453,254

OTHER ACCOUNTS RECEIVABLE, NE_5

OTHER ACCOUNTS RECEIVABLE, NET - Others (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of other accounts receivables [Line Items]
Balance in favor forward contracts	$ 130,989	$ 99,473
Interest	52,948	36,646
Other taxes	21,321	43,373
Value added taxes	39,098	2,806
Deficiency in savings accounts	6,864	6,074
Joint ventures	5,172	6,879
ACH, PSE, CENIT fees	4,988	8,732
Transaction fees	4,731
Operative process	4,486	4,408
Credit card brands compensations	3,247
SIIF condonations	2,219	4,435
Others	32,057	65,882
Total	$ 308,120	$ 278,708

OTHER ACCOUNTS RECEIVABLE, NE_6

OTHER ACCOUNTS RECEIVABLE, NET - Textual (Details)	12 Months Ended
	Dec. 31, 2018COP ($)item
Disclosure of other accounts receivables [Abstract]
Dormant client deposits exceed value, real value units | item	322
Dormant client deposits exceed value | $	$ 260.665
Expected dates of realization	12 months

NON-CURRENT ASSETS HELD FOR S_3

NON-CURRENT ASSETS HELD FOR SALE - Roll forward (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[2]	Dec. 31, 2018COP ($)		Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of non-current assets held for sale [Line Items]
Balance at the beginning of the year			$ 101,382	[1]	$ 259,527		$ 199,475
Additions			180,296		89,216		236,632
Assets sold			(52,164)		(78,784)		(130,784)
Changes in fair value			(25,136)		(37,818)		(34,572)
Reclassifications			(20,038)		(134,795)		(5,631)
Exchange gains in foreign currency			2,374		4,036		(5,593)
Balance at year end balance	$ 57.5		186,714		101,382	[1]	$ 259,527
Investment property
Disclosure of non-current assets held for sale [Line Items]
Reclassifications			(19,718)		(108,924)
Investment
Disclosure of non-current assets held for sale [Line Items]
Reclassifications			(21)		(23,368)
Other Assets
Disclosure of non-current assets held for sale [Line Items]
Reclassifications			(299)		(2,503)
Non-current assets held for sale
Disclosure of non-current assets held for sale [Line Items]
Balance at the beginning of the year			101,382
Balance at year end balance			$ 186,714		$ 101,382
[1]	See note 2.32, Changes in presentation.
[2]	See note 2.4, “convenience translation into U.S. dollars”.

NON-CURRENT ASSETS HELD FOR S_4

NON-CURRENT ASSETS HELD FOR SALE - Foreclosed Assets, Leasing Agreements, Other (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	Dec. 31, 2015COP ($)
Disclosure of non-current assets held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale	$ 57.5		$ 186,714	$ 101,382	[2]	$ 259,527	$ 199,475
Foreclosed assets
Disclosure of non-current assets held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale			141,924	77,250
Foreclosed assets | Movable Property
Disclosure of non-current assets held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale			19,733	8,523
Foreclosed assets | Residential Real Estates
Disclosure of non-current assets held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale			33,622	31,666
Foreclosed assets | Other real estate
Disclosure of non-current assets held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale			88,569	37,061
Assets Received From Leasing Agreements [Member]
Disclosure of non-current assets held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale			41,033	19,226
Assets Received From Leasing Agreements [Member] | Machinery
Disclosure of non-current assets held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale			14,989	15,640
Assets Received From Leasing Agreements [Member] | Vehicles
Disclosure of non-current assets held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale			984	1,623
Assets Received From Leasing Agreements [Member] | Real estate
Disclosure of non-current assets held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale			25,060	1,963
Other Non-Current Assets Held For Sale [Member]
Disclosure of non-current assets held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale			3,757	4,906
Other Non-Current Assets Held For Sale [Member] | Real estate
Disclosure of non-current assets held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale			3,517	982
Other Non-Current Assets Held For Sale [Member] | Other property, plant and equipment
Disclosure of non-current assets held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale			240	3,924
Non-current assets held for sale
Disclosure of non-current assets held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale			$ 186,714	$ 101,382
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

NON-CURRENT ASSETS HELD FOR S_5

NON-CURRENT ASSETS HELD FOR SALE - Associated Liabilities (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of non-current assets held for sale [Line Items]
Liabilities included in disposal groups classified as held for sale	$ 15,876	$ 18,382
Commercial Accounts Payable
Disclosure of non-current assets held for sale [Line Items]
Liabilities included in disposal groups classified as held for sale	$ 15,876	$ 18,382

INVESTMENTS IN ASSOCIATES AND_3

INVESTMENTS IN ASSOCIATES AND JOINT VENTURES (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of investments in associates and joint ventures [Abstract]
Associates			$ 975,032	$ 925,823
Joint ventures			7,711	117,191
Total	$ 302.4		$ 982,743	$ 1,043,014	[2]
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

INVESTMENTS IN ASSOCIATES AND_4

INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Voting Right Percentage (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of associates [line items]
Book value	$ 975,032	$ 925,823
A.C.H Colombia S.A. [Member]
Disclosure of associates [line items]
Ownership interest	34.00%	34.00%
Book value	$ 14,010	$ 12,357
Redeban Multicolor S.A. [Member]
Disclosure of associates [line items]
Ownership interest	20.00%	20.00%
Book value	$ 20,508	$ 19,529
Credibanco S.A. [Member]
Disclosure of associates [line items]
Ownership interest	25.00%	25.00%
Book value	$ 195,157	$ 196,071
Aerocali S.A. [Member]
Disclosure of associates [line items]
Ownership interest	50.00%	50.00%
Book value	$ 19,157	$ 17,633
Colombiana de Extrusion S.A. Extrucol
Disclosure of associates [line items]
Ownership interest	30.00%	30.00%
Book value	$ 11,327	$ 11,476
Concesionaria Tibitoc S.A. [Member]
Disclosure of associates [line items]
Ownership interest	33.00%	33.00%
Book value	$ 18,339	$ 20,165
Metrex S.A. [Member]
Disclosure of associates [line items]
Ownership interest	18.00%	18.00%
Book value	$ 2,054	$ 2,559
C.I. Acepalma S.A. [Member]
Disclosure of associates [line items]
Ownership interest	11.00%	11.00%
Book value	$ 5,458	$ 5,625
Gases del Caribe S.A. E.S.P. [Member]
Disclosure of associates [line items]
Ownership interest	31.00%	31.00%
Book value	$ 269,185	$ 269,739
Gas natural de lima y callao s.a. calidda s.a [Member]
Disclosure of associates [line items]
Ownership interest	40.00%	40.00%
Book value	$ 410,984	$ 363,139
Energia Eficiente S.A. [Member]
Disclosure of associates [line items]
Ownership interest	39.00%	39.00%
Book value	$ 8,252	$ 6,927
Concentra Inteligencia en Energia S.A.S.
Disclosure of associates [line items]
Ownership interest	24.00%	24.00%
Book value	$ 601	$ 603

INVESTMENTS IN ASSOCIATES AND_5

INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Ownership Interest and Book Value (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of joint ventures [line items]
Book value	$ 7,711	$ 117,191
Cfc Sk Eldorado Latam Advisory Company S.A.S. [Member]
Disclosure of joint ventures [line items]
Ownership interest	50.00%	50.00%
Book value	$ 398	$ 345
Cfc Sk El Dorado Latam Management Company Ltd [Member]
Disclosure of joint ventures [line items]
Ownership interest	50.00%	50.00%
Book value	$ 6,764	$ 4,568
Cfc Sk Eldorado Latam Capital Partners, Ltd.
Disclosure of joint ventures [line items]
Ownership interest	50.00%	50.00%
Book value	$ 549	$ 495
Concesionaria Ruta Del Sol S.A.S. [Member]
Disclosure of joint ventures [line items]
Ownership interest	33.00%	33.00%
Book value		$ 111,783

INVESTMENTS IN ASSOCIATES AND_6

INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Roll forward of investment in associates (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)	Dec. 31, 2016COP ($)
Disclosure of associates [line items]
Balance at the beginning of the year			$ 925,823
Participation in Other Comprehensive Income	$ (64.5)		(209,751)	$ 75,370	$ 302,207
Year-end balance			975,032	925,823
Associates [member]
Disclosure of associates [line items]
Balance at the beginning of the year			925,823	865,410	645,377
Change in accounting policy			(3,691)
Acquisitions					16
Gain in non-monetary transactions					195,514
Participation in the profit or loss of the period			195,991	170,349	147,867
Participation in Other Comprehensive Income			22,400	1,135	(17,949)
Dividends received			(171,899)	(107,812)	(96,375)
Capitalization reductions					(4,746)
Allowance for Impairment					(4,027)
Exchange difference			6,408	(3,259)	(267)
Year-end balance			$ 975,032	$ 925,823	$ 865,410
[1]	See note 2.4, “convenience translation into U.S. dollars”.

INVESTMENTS IN ASSOCIATES AND_7

INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Roll forward of investment in joint ventures (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)	Dec. 31, 2016COP ($)
Disclosure of joint ventures [line items]
Balance at the beginning of the year			$ 117,191
Participation in Other Comprehensive Income	$ (64.5)		(209,751)	$ 75,370	$ 302,207
Year-end balance			7,711	117,191
Joint ventures [member]
Disclosure of joint ventures [line items]
Balance at the beginning of the year			117,191	281,237	282,222
Participation in the profit or loss of the period			1,724	1,615	(7,102)
Participation in Other Comprehensive Income				(7)	(2,112)
Capitalization				87	17,282
Allowance for Impairment			(111,783)	(140,691)	(5,892)
Transfers / Reclassification				(12,405)	(3,569)
Exchange difference			579		408
Balance acquired in business combination				(12,645)
Year-end balance			$ 7,711	$ 117,191	$ 281,237
[1]	See note 2.4, “convenience translation into U.S. dollars”.

INVESTMENTS IN ASSOCIATES AND_8

INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Financial information of associates (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	Dec. 31, 2018USD ($)	[2]	Dec. 31, 2018COP ($)	Dec. 31, 2015COP ($)
Disclosure of associates [line items]
Assets		$ 236,538,540	[1]		$ 79,906.2		$ 259,675,153
Liabilities		210,667,313	[1]		70,811.8		230,120,805
Equity		25,871,227	[1]	$ 24,659,222	$ 9,094.3		29,554,348	$ 22,906,280
Income	$ 34,083,225	31,659,852		31,662,566
Expenses	28,898,674	28,497,419		$ 28,145,630
A.C.H Colombia S.A. [Member]
Disclosure of associates [line items]
Assets		56,670					78,878
Liabilities		20,119					37,437
Equity		36,551					41,441
Income	83,612	69,120
Expenses	64,067	54,746
Net income	19,545	14,374
Redeban Multicolor S.A. [Member]
Disclosure of associates [line items]
Assets		177,667					213,133
Liabilities		81,001					111,626
Equity		96,666					101,507
Income	214,360	160,470
Expenses	201,980	149,902
Net income	12,380	10,568
Credibanco S.A. [Member]
Disclosure of associates [line items]
Assets		253,991					263,521
Liabilities		84,294					93,951
Equity		169,697					169,570
Income	240,489	207,592
Expenses	219,166	180,422
Net income	21,323	27,170
Aerocali S.A. [Member]
Disclosure of associates [line items]
Assets		133,977					104,506
Liabilities		99,008					66,191
Equity		34,969					38,315
Income	214,805	117,169
Expenses	205,171	100,900
Net income	9,634	16,269
Colombiana de Extrusion S.A. Extrucol
Disclosure of associates [line items]
Assets		68,059					86,398
Liabilities		29,807					48,642
Equity		38,252					37,756
Income	113,749	65,870
Expenses	108,781	62,201
Net income	4,968	3,669
Concesionaria Tibitoc S.A. [Member]
Disclosure of associates [line items]
Assets		79,566					57,420
Liabilities		19,069					2,403
Equity		60,497					55,017
Income	20,468	47,125
Expenses	15,964	34,003
Net income	4,504	13,122
Metrex S.A. [Member]
Disclosure of associates [line items]
Assets		38,933					31,482
Liabilities		24,726					19,938
Equity		14,207					11,544
Income	43,468	47,763
Expenses	41,254	43,003
Net income	2,214	4,760
Calidda S.A. [Member]
Disclosure of associates [line items]
Assets		2,441,398					2,943,477
Liabilities		1,536,738					1,916,017
Equity		904,660					1,027,460
Income	2,007,368	1,575,804
Expenses	1,804,907	1,402,709
Net income	202,461	173,095
Gases del Caribe S.A. [Member]
Disclosure of associates [line items]
Assets		2,363,464					2,585,669
Liabilities		1,481,320					1,608,107
Equity		882,144					977,562
Income	1,938,431	1,577,041
Expenses	1,646,970	1,343,286
Net income	291,461	233,755
Concentra Inteligencia en Energia S.A.S.
Disclosure of associates [line items]
Assets		2,331					2,560
Liabilities		231					435
Equity		2,100					2,125
Income	1,234	1,634
Expenses	1,292	1,491
Net income	(58)	143
Energia Eficiente S.A. [Member]
Disclosure of associates [line items]
Assets		40,853					57,226
Liabilities		23,142					36,188
Equity		17,711					21,038
Income	112,914	92,170
Expenses	109,488	89,709
Net income	3,426	2,461
C.I. Acepalma [Member]
Disclosure of associates [line items]
Assets		290,406					281,161
Liabilities		240,547					232,843
Equity		49,859					48,318
Income	723,908	798,782
Expenses	717,637	789,925
Net income	6,271	8,857
Associates [member]
Disclosure of associates [line items]
Assets		5,947,315					6,705,431
Liabilities		3,640,002					4,173,778
Equity		2,307,313					$ 2,531,653
Income	5,714,806	4,760,540
Expenses	5,136,667	4,252,297
Net income	$ 578,129	$ 508,243
[1]	See note 2.32, Changes in presentation.
[2]	See note 2.4, “convenience translation into U.S. dollars”.

INVESTMENTS IN ASSOCIATES AND_9

INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Financial information of joint ventures (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	Dec. 31, 2018USD ($)	[2]	Dec. 31, 2018COP ($)	Dec. 31, 2015COP ($)
Disclosure of joint ventures [line items]
Assets		$ 236,538,540	[1]		$ 79,906.2		$ 259,675,153
Liabilities		210,667,313	[1]		70,811.8		230,120,805
Equity		25,871,227	[1]	$ 24,659,222	$ 9,094.3		29,554,348	$ 22,906,280
Income	$ 34,083,225	31,659,852		31,662,566
Expenses	28,898,674	28,497,419		$ 28,145,630
Cfc Sk Eldorado Latam Advisory Company S.A.S. [Member]
Disclosure of joint ventures [line items]
Assets		893					1,077
Liabilities		204					281
Equity		689					796
Income	1,939	2,037
Expenses	1,762	1,877
Net income	177	159
Cfc Sk El Dorado Latam Management Company Ltd [Member]
Disclosure of joint ventures [line items]
Assets		9,169					13,573
Liabilities		34					45
Equity		9,135					13,528
Income	3,697	3,584
Expenses	410	374
Net income	3,287	3,210
Cfc Sk Eldorado Latam Capital Partners, Ltd.
Disclosure of joint ventures [line items]
Assets		1,007					1,125
Liabilities		16					26
Equity		991					1,099
Income	150
Expenses	126	131
Net income	24	(131)
Concesionaria Vial Del Pacífico
Disclosure of joint ventures [line items]
Assets		424,888
Liabilities		424,379
Equity		509
Income		113,113
Expenses		115,567
Net income		(2,454)
Concesionaria Nueva Via al Mar [Member]
Disclosure of joint ventures [line items]
Assets		188,731
Liabilities		166,955
Equity		21,776
Income		26,215
Expenses		23,049
Net income		3,166
Joint ventures [member]
Disclosure of joint ventures [line items]
Assets		624,688					15,775
Liabilities		591,588					352
Equity		33,100					$ 15,423
Income	5,786	144,949
Expenses	2,298	140,998
Net income	$ 3,488	$ 3,950
[1]	See note 2.32, Changes in presentation.
[2]	See note 2.4, “convenience translation into U.S. dollars”.

INVESTMENTS IN ASSOCIATES AN_10

INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Textual (Details) - COP ($) $ in Millions	2 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Disclosure of investments in associates and joint ventures [Line Items]
Investments in joint ventures	$ 7,711	$ 7,711	$ 117,191
Concesionaria Ruta del Sol [Member]
Disclosure of investments in associates and joint ventures [Line Items]
Proportion of ownership interest in joint venture	100.00%		33.00%
Allowance for Impairment			$ 140,691
Investments in joint ventures			$ 111,783
Estudios y Proyectos del Sol S.A.S.
Disclosure of investments in associates and joint ventures [Line Items]
Proportion of ownership interest in subsidiary		38.25%
Estudios y Proyectos del Sol S.A.S. | Corporacion Financiera Colombiana S.A.
Disclosure of investments in associates and joint ventures [Line Items]
Proportion of ownership interest in subsidiary		100.00%

TANGIBLE ASSETS - Carrying Valu

TANGIBLE ASSETS - Carrying Value (Details) $ in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2018USD ($)	[2]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	[1]			$ 6,654,006
Property, plant and equipment		$ 2,027.4		6,588,483	$ 6,654,006	[1]
Property, plant and equipment for own use
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				5,799,997
Property, plant and equipment				5,663,743	5,799,997
Property, plant and equipment under operating leases
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				4,076
Property, plant and equipment				4,210	4,076
Investment properties [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				783,794
Property, plant and equipment				836,324	783,794
Biological assets at fair value [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				66,139
Property, plant and equipment				84,206	66,139
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				9,355,172	9,054,173		$ 8,758,542
Purchases or capitalized expenses				631,509	582,197		907,256
Withdrawals / Sales				(492,869)	(425,279)		(454,249)
Changes in fair value				60,021	60,178		68,324
Transfers to/from non-current assets held for sale				21,054	102,056		(7,385)
Adjustments for exchange differences				120,766	(65,404)		(138,320)
Effects of amendments in accounting policies of bearer plants.							(18,079)
Reclassifications				(26,854)	47,251		(61,916)
Property, plant and equipment				9,668,799	9,355,172		9,054,173
Cost | Property, plant and equipment for own use
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				8,497,557	8,388,936		7,969,593
Purchases or capitalized expenses				547,668	470,650		814,194
Withdrawals / Sales				(389,303)	(374,606)		(367,987)
Transfers to/from non-current assets held for sale				1,335	587		(18,704)
Adjustments for exchange differences				120,766	(65,404)		(138,320)
Reclassification of bearer plants balance							188,177
Effects of amendments in accounting policies of bearer plants.							29
Reclassifications				(37,538)	77,394		(58,046)
Property, plant and equipment				8,740,485	8,497,557		8,388,936
Cost | Property, plant and equipment under operating leases
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				7,682	7,047		10,491
Purchases or capitalized expenses				1,641	3,102		362
Withdrawals / Sales				(1,539)	(2,467)		(3,806)
Property, plant and equipment				7,784	7,682		7,047
Cost | Investment properties [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				783,794	610,188		538,246
Purchases or capitalized expenses				61,300	84,036		71,268
Withdrawals / Sales				(78,684)	(28,431)		(61,786)
Changes in fair value				39,415	46,675		53,680
Transfers to/from non-current assets held for sale				19,719	101,469		11,319
Reclassifications				10,780	(30,143)		(2,539)
Property, plant and equipment				836,324	783,794		610,188
Cost | Biological assets at fair value [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				66,139	48,002		240,212
Purchases or capitalized expenses				20,900	24,409		21,432
Withdrawals / Sales				(23,343)	(19,775)		(20,670)
Changes in fair value				20,606	13,503		14,644
Reclassification of bearer plants balance							(188,177)
Effects of amendments in accounting policies of bearer plants.							(18,108)
Reclassifications				(96)			(1,331)
Property, plant and equipment				84,206	66,139		48,002
Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				(2,693,773)	(2,492,071)		(2,243,410)
Withdrawals / Sales				165,922	276,840		130,195
Transfers to/from non-current assets held for sale							10,781
Adjustments for exchange differences				(63,058)	20,881		71,582
Reclassifications				(4,897)	(35,531)		(5,338)
Depreciation, property, plant and equipment				(478,606)	(463,892)		(455,852)
IAS 41 Adoption Effect - agriculture							(29)
Property, plant and equipment				(3,074,412)	(2,693,773)		(2,492,071)
Accumulated depreciation and amortization | Property, plant and equipment for own use
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				(2,690,167)	(2,487,188)		(2,236,346)
Withdrawals / Sales				164,541	274,804		126,782
Transfers to/from non-current assets held for sale							10,781
Adjustments for exchange differences				(63,058)	20,881		71,582
Reclassifications				(4,897)	(35,531)		(5,338)
Depreciation, property, plant and equipment				(477,260)	(463,133)		(454,620)
IAS 41 Adoption Effect - agriculture							(29)
Property, plant and equipment				(3,070,841)	(2,690,167)		(2,487,188)
Accumulated depreciation and amortization | Property, plant and equipment under operating leases
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				(3,606)	(4,883)		(7,064)
Withdrawals / Sales				1,381	2,036		3,413
Depreciation, property, plant and equipment				(1,346)	(759)		(1,232)
Property, plant and equipment				(3,571)	(3,606)		(4,883)
Accumulated impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				(7,393)	(2,587)		(1,084)
Year impairment charge							(1,503)
Withdrawals / Year impairment charge				1,489	(4,806)
Property, plant and equipment				(5,904)	(7,393)		(2,587)
Accumulated impairment | Property, plant and equipment for own use
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				(7,393)	(2,499)		(1,017)
Year impairment charge							(1,482)
Withdrawals / Year impairment charge				1,492	(4,894)
Property, plant and equipment				(5,901)	(7,393)		(2,499)
Accumulated impairment | Property, plant and equipment under operating leases
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment					(88)		(67)
Year impairment charge							(21)
Withdrawals / Year impairment charge				(3)	$ 88
Property, plant and equipment				$ (3)			$ (88)
[1]	See note 2.32, Changes in presentation.
[2]	See note 2.4, “convenience translation into U.S. dollars”.

TANGIBLE ASSETS - Properties, p

TANGIBLE ASSETS - Properties, plant and equipment balance (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	Dec. 31, 2015COP ($)
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 2,027.4		$ 6,588,483	$ 6,654,006	[2]
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			9,668,799	9,355,172		$ 9,054,173	$ 8,758,542
Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(3,074,412)	(2,693,773)		(2,492,071)	(2,243,410)
Accumulated impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(5,904)	(7,393)		(2,587)	(1,084)
Property, plant and equipment for own use
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			5,663,743	5,799,997
Property, plant and equipment for own use | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			8,740,485	8,497,557		8,388,936	7,969,593
Property, plant and equipment for own use | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(3,070,841)	(2,690,167)		(2,487,188)	(2,236,346)
Property, plant and equipment for own use | Accumulated impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(5,901)	(7,393)		$ (2,499)	$ (1,017)
Property, plant and equipment for own use | Land
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			1,007,276	1,004,047
Property, plant and equipment for own use | Land | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			1,011,018	1,007,788
Property, plant and equipment for own use | Land | Accumulated impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(3,742)	(3,741)
Property, plant and equipment for own use | Buildings
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			2,082,359	2,154,604
Property, plant and equipment for own use | Buildings | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			2,652,100	2,640,644
Property, plant and equipment for own use | Buildings | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(569,741)	(485,924)
Property, plant and equipment for own use | Buildings | Accumulated impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				(116)
Property, plant and equipment for own use | Office Equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			329,095	330,501
Property, plant and equipment for own use | Office Equipment | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			1,013,974	944,127
Property, plant and equipment for own use | Office Equipment | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(684,617)	(613,400)
Property, plant and equipment for own use | Office Equipment | Accumulated impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(262)	(226)
Property, plant and equipment for own use | Computer Equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			464,822	452,094
Property, plant and equipment for own use | Computer Equipment | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			1,725,795	1,573,284
Property, plant and equipment for own use | Computer Equipment | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(1,260,973)	(1,121,179)
Property, plant and equipment for own use | Computer Equipment | Accumulated impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment				(11)
Property, plant and equipment for own use | Motor vehicles
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			63,556	68,997
Property, plant and equipment for own use | Motor vehicles | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			134,417	131,301
Property, plant and equipment for own use | Motor vehicles | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(70,826)	(62,304)
Property, plant and equipment for own use | Motor vehicles | Accumulated impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(35)
Property, plant and equipment for own use | Machinery
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			1,130,270	1,171,443
Property, plant and equipment for own use | Machinery | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			1,354,271	1,362,242
Property, plant and equipment for own use | Machinery | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(222,139)	(187,500)
Property, plant and equipment for own use | Machinery | Accumulated impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(1,862)	(3,299)
Property, plant and equipment for own use | Silos [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			2,874	3,853
Property, plant and equipment for own use | Silos [Member] | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			8,613	8,613
Property, plant and equipment for own use | Silos [Member] | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(5,739)	(4,760)
Property, plant and equipment for own use | Warehouses [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			17,737	17,858
Property, plant and equipment for own use | Warehouses [Member] | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			44,416	43,592
Property, plant and equipment for own use | Warehouses [Member] | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(26,679)	(25,734)
Property, plant and equipment for own use | Advanced payments for acquisition of plant property and equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			1,284	6,974
Property, plant and equipment for own use | Advanced payments for acquisition of plant property and equipment [Member] | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			1,284	6,974
Property, plant and equipment for own use | Leasehold improvements
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			160,219	166,113
Property, plant and equipment for own use | Leasehold improvements | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			381,158	348,431
Property, plant and equipment for own use | Leasehold improvements | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(220,939)	(182,318)
Property, plant and equipment for own use | Construction in progress
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			185,264	211,120
Property, plant and equipment for own use | Construction in progress | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			185,264	211,120
Property, plant and equipment for own use | Bearer plants
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			218,987	212,393
Property, plant and equipment for own use | Bearer plants | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			228,175	219,441
Property, plant and equipment for own use | Bearer plants | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			$ (9,188)	$ (7,048)
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

TANGIBLE ASSETS - Operating Lea

TANGIBLE ASSETS - Operating Lease (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	Dec. 31, 2015COP ($)
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 2,027.4		$ 6,588,483	$ 6,654,006	[2]
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			9,668,799	9,355,172		$ 9,054,173	$ 8,758,542
Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(3,074,412)	(2,693,773)		(2,492,071)	(2,243,410)
Accumulated impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(5,904)	(7,393)		(2,587)	(1,084)
Property, plant and equipment under operating leases
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			4,210	4,076
Property, plant and equipment under operating leases | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			7,784	7,682		7,047	10,491
Property, plant and equipment under operating leases | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(3,571)	(3,606)		(4,883)	(7,064)
Property, plant and equipment under operating leases | Accumulated impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(3)			$ (88)	$ (67)
Property, plant and equipment under operating leases | Office Equipment | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			98	203
Property, plant and equipment under operating leases | Office Equipment | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(98)	(203)
Property, plant and equipment under operating leases | Computer Equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			2,401	1,879
Property, plant and equipment under operating leases | Computer Equipment | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			4,041	3,363
Property, plant and equipment under operating leases | Computer Equipment | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(1,641)	(1,484)
Property, plant and equipment under operating leases | Computer Equipment | Accumulated impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			1
Property, plant and equipment under operating leases | Motor vehicles
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			1,524	1,793
Property, plant and equipment under operating leases | Motor vehicles | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			3,176	3,627
Property, plant and equipment under operating leases | Motor vehicles | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(1,648)	(1,834)
Property, plant and equipment under operating leases | Motor vehicles | Accumulated impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			(4)
Property, plant and equipment under operating leases | Machinery
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			285	404
Property, plant and equipment under operating leases | Machinery | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			469	489
Property, plant and equipment under operating leases | Machinery | Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			$ (184)	$ (85)
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

TANGIBLE ASSETS - Minimum Lease

TANGIBLE ASSETS - Minimum Lease Payments (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of finance lease and operating lease by lessor [line items]
Minimum finance lease payments receivable, at present value	$ 4,901	$ 5,268
Not later than one year [member]
Disclosure of finance lease and operating lease by lessor [line items]
Minimum finance lease payments receivable, at present value	2,313	2,833
Later than one year and not later than five years [member]
Disclosure of finance lease and operating lease by lessor [line items]
Minimum finance lease payments receivable, at present value	$ 2,588	$ 2,435

TANGIBLE ASSETS - Biological As

TANGIBLE ASSETS - Biological Assets (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of detailed information about property, plant and equipment [line items]
Biological assets	$ 25.9		$ 84,206	$ 66,139	[2]
At fair value | African palm [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Biological assets			29,783	26,555
At fair value | Rubber Plantations
Disclosure of detailed information about property, plant and equipment [line items]
Biological assets			41,533	24,158
Other at fair value [Member] | Rubber Plantations
Disclosure of detailed information about property, plant and equipment [line items]
Biological assets			$ 12,890	$ 15,426
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

TANGIBLE ASSETS - Area Planted

TANGIBLE ASSETS - Area Planted in Hectares (Details) - a	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [abstract]
Areas planted in hectares	8,534	7,731

TANGIBLE ASSETS - Hectares Expe

TANGIBLE ASSETS - Hectares Expected Years (Details) - a	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [line items]
Area Planted in Hectares	8,534	7,731
Not later than one year [member]
Disclosure of detailed information about property, plant and equipment [line items]
Area Planted in Hectares	1,639	1,168
Later than one year and not later than five years [member]
Disclosure of detailed information about property, plant and equipment [line items]
Area Planted in Hectares	3,194	1,078
More than 5 years and no more than 10 years
Disclosure of detailed information about property, plant and equipment [line items]
Area Planted in Hectares	1,966	2,074
More than 10 years
Disclosure of detailed information about property, plant and equipment [line items]
Area Planted in Hectares	1,735	3,411

TANGIBLE ASSETS - Statement of

TANGIBLE ASSETS - Statement of Income (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about property, plant and equipment [abstract]
Sales of biological goods	$ 88,382	$ 43,788	$ 39,032
Changes in fair value of biological assets	20,606	13,503	14,644
Subtotal	108,988	57,291	53,676
Costs and expenses	(73,981)	(37,313)	(27,067)
Depreciation of bearer plants	(11,816)	(3,405)	(2,665)
General administration costs and sales	(5,390)	(7,278)	(4,379)
Financial costs	(5,599)	(4,136)	(2,285)
Subtotal	(96,786)	(52,132)	(36,396)
Total net income	$ 12,202	$ 5,159	$ 17,280

TANGIBLE ASSETS - Investment pr

TANGIBLE ASSETS - Investment properties - Summary (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of detailed information about property, plant and equipment [line items]
Investment property	$ 257.4		$ 836,324	$ 783,794	[2]
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Investment property			586,799	583,572
Accumulated adjustments to fair value [member]
Disclosure of detailed information about property, plant and equipment [line items]
Investment property			249,525	200,222
Land
Disclosure of detailed information about property, plant and equipment [line items]
Investment property			569,339	525,511
Land | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Investment property			371,087	365,675
Land | Accumulated adjustments to fair value [member]
Disclosure of detailed information about property, plant and equipment [line items]
Investment property			198,252	159,836
Buildings
Disclosure of detailed information about property, plant and equipment [line items]
Investment property			266,985	258,283
Buildings | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Investment property			215,712	217,897
Buildings | Accumulated adjustments to fair value [member]
Disclosure of detailed information about property, plant and equipment [line items]
Investment property			$ 51,273	$ 40,386
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

TANGIBLE ASSETS - Investment _2

TANGIBLE ASSETS - Investment properties - Amounts recognized in statement of income (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about property, plant and equipment [abstract]
Income from rents	$ 10,370	$ 11,992	$ 5,183
Direct operating expenses deriving from property investments which create income from rent	(1,486)	(1,053)	(321)
Direct operating expenses deriving from property investments which do not create income from rent	(5,112)	(4,239)	(1,328)
Net	$ 3,772	$ 6,700	$ 3,534

TANGIBLE ASSETS - Textual (Deta

TANGIBLE ASSETS - Textual (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about property, plant and equipment [line items]
Capitalization of intangible	$ 325
Assets received in total or partial settlement of payment obligations of debtors	6,895	$ 8,219
Withdrawals	9,888
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Withdrawals / Sales	(492,869)	(425,279)	$ (454,249)
Cost | Pizano and Banco Corficolombiana Panama [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Withdrawals / Sales	(114,099)
Cost | Consorcio consol [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Withdrawals / Sales		(30,440)
Cost | Investment properties [member]
Disclosure of detailed information about property, plant and equipment [line items]
Withdrawals / Sales	(78,684)	(28,431)	(61,786)
Cost | Biological assets at fair value [member]
Disclosure of detailed information about property, plant and equipment [line items]
Withdrawals / Sales	(23,343)	$ (19,775)	(20,670)
Cost | Biological assets at fair value [member] | Pizano and Banco Corficolombiana Panama [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Withdrawals / Sales	(4,225)
Accumulated impairment
Disclosure of detailed information about property, plant and equipment [line items]
Year impairment charge			$ 1,503
Accumulated impairment | Investment properties [member] | Pizano and Banco Corficolombiana Panama [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Year impairment charge	$ 3,064

CONCESSION ARRANGEMENTS RIGHT_2

CONCESSION ARRANGEMENTS RIGHTS (Details) - Service concession arrangement [member] - COP ($) $ in Millions	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of detailed information about service concession arrangements [line items]
Financial assets at fair value	$ 2,488,414		$ 2,282,611
Financial assets at amortised cost	2,630,269		786,018
Intangible assets	5,514,481	$ 3,734,116	3,114,167	$ 2,805,314	$ 2,390,702
Total assets in concession contracts	10,633,164		6,182,796
Accumulated depreciation, amortisation and impairment
Disclosure of detailed information about service concession arrangements [line items]
Intangible assets	(1,251,292)		$ (927,517)	$ (644,415)	$ (382,608)
Accumulated impairment
Disclosure of detailed information about service concession arrangements [line items]
Financial assets at amortised cost	$ 966

CONCESSION ARRANGEMENTS RIGHT_3

CONCESSION ARRANGEMENTS RIGHTS - Financial assets in concession arrangements (Details) - COP ($) $ in Millions	Jan. 01, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Service concession arrangement [member]
Disclosure of detailed information about service concession arrangements [line items]
Beginning balance	$ 3,068,629	$ 3,068,629	$ 2,275,915	$ 1,934,556
Additions or new concession arrangements		1,361,261	698,749	408,040
Collections during the year		(22,803)	(162,271)	(327,607)
Adjustment to fair value credited to income		205,803	209,937	180,982
Accrued interest		43,137	46,299	79,944
Impairment expense		(398)
Ending balance	3,531,683	5,118,683	3,068,629	2,275,915
Service concession arrangement [member] | Increase (decrease) due to application of IFRS 15
Disclosure of detailed information about service concession arrangements [line items]
Impact of the adoption	463,622
Service concession arrangement [member] | Increase (decrease) due to application of IFRS 9
Disclosure of detailed information about service concession arrangements [line items]
Impact of the adoption	(568)
Gas and Energy Concession Arrangement [Member]
Disclosure of detailed information about service concession arrangements [line items]
Beginning balance	2,282,611	2,282,611	2,072,674	1,891,692
Adjustment to fair value credited to income		205,803	209,937	180,982
Ending balance	2,282,611	2,488,414	2,282,611	2,072,674
Infrastructure Concession Arrangement [Member]
Disclosure of detailed information about service concession arrangements [line items]
Beginning balance	786,018	786,018	203,241	42,864
Additions or new concession arrangements		1,361,261	698,749	408,040
Collections during the year		(22,803)	(162,271)	(327,607)
Accrued interest		43,137	46,299	79,944
Impairment expense		(398)
Ending balance	1,249,072	$ 2,630,269	$ 786,018	$ 203,241
Infrastructure Concession Arrangement [Member] | Increase (decrease) due to application of IFRS 15
Disclosure of detailed information about service concession arrangements [line items]
Impact of the adoption	463,622
Infrastructure Concession Arrangement [Member] | Increase (decrease) due to application of IFRS 9
Disclosure of detailed information about service concession arrangements [line items]
Impact of the adoption	$ (568)

CONCESSION ARRANGEMENTS RIGHT_4

CONCESSION ARRANGEMENTS RIGHTS - Intangible assets in concession arrangements (Details) - COP ($) $ in Millions	Jan. 01, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Service concession arrangement [member]
Disclosure of detailed information about service concession arrangements [line items]
Begining Balance	$ 3,114,167	$ 3,114,167	$ 2,805,314	$ 2,390,702
Ending Balance	3,734,116	5,514,481	3,114,167	2,805,314
Service concession arrangement [member] | Increase (decrease) due to application of IFRS 15
Disclosure of detailed information about service concession arrangements [line items]
Impact of the adoption	619,949
Ending Balance	619,949
Gas and Energy Concession Arrangement [Member]
Disclosure of detailed information about service concession arrangements [line items]
Begining Balance	2,176,163	2,176,163	2,118,200	1,734,733
Ending Balance	2,176,163	2,531,277	2,176,163	2,118,200
Infrastructure Concession Arrangement [Member]
Disclosure of detailed information about service concession arrangements [line items]
Begining Balance	938,004	938,004	687,114	655,969
Ending Balance	1,557,953	2,983,204	938,004	687,114
Infrastructure Concession Arrangement [Member] | Increase (decrease) due to application of IFRS 15
Disclosure of detailed information about service concession arrangements [line items]
Impact of the adoption	619,949
Cost | Service concession arrangement [member]
Disclosure of detailed information about service concession arrangements [line items]
Begining Balance	4,041,684	4,041,684	3,449,729	2,773,310
Additions		2,045,681	610,909	612,179
Reclassification to PPE		25,840	(14,408)	68,591
Withdrawals / sales		(1,374)	(3,505)	(4,351)
Foreign exchange adjustment		33,993	(1,041)
Cost / Amortization		2,104,140	591,955	676,419
Ending Balance	4,661,633	6,765,773	4,041,684	3,449,729
Cost | Service concession arrangement [member] | Increase (decrease) due to application of IFRS 15
Disclosure of detailed information about service concession arrangements [line items]
Impact of the adoption	619,949
Cost | Gas and Energy Concession Arrangement [Member]
Disclosure of detailed information about service concession arrangements [line items]
Begining Balance	2,546,056	2,546,056	2,369,931	1,884,476
Additions		428,375	193,489	421,202
Reclassification to PPE		25,840	(14,408)	68,587
Withdrawals / sales		(1,250)	(1,915)	(4,334)
Foreign exchange adjustment		33,993	(1,041)
Cost / Amortization		486,958	176,125	485,455
Ending Balance	2,546,056	3,033,014	2,546,056	2,369,931
Cost | Infrastructure Concession Arrangement [Member]
Disclosure of detailed information about service concession arrangements [line items]
Begining Balance	1,495,628	1,495,628	1,079,798	888,834
Additions		1,617,306	417,420	190,977
Reclassification to PPE				4
Withdrawals / sales		(124)	(1,590)	(17)
Cost / Amortization		1,617,182	415,830	190,964
Ending Balance	2,115,577	3,732,759	1,495,628	1,079,798
Cost | Infrastructure Concession Arrangement [Member] | Increase (decrease) due to application of IFRS 15
Disclosure of detailed information about service concession arrangements [line items]
Impact of the adoption	619,949
Accumulated depreciation, amortisation and impairment | Service concession arrangement [member]
Disclosure of detailed information about service concession arrangements [line items]
Begining Balance	(927,517)	(927,517)	(644,415)	(382,608)
Reclassification to PPE		(665)	841	(2,113)
Amortization of the year		(300,210)	(284,489)	(260,667)
Withdrawals / sales			630	973
Withdrawals / sales		(21,083)
Foreign exchange adjustment		(1,817)	(84)
Cost / Amortization		(323,775)	(283,102)	(261,807)
Ending Balance		(1,251,292)	(927,517)	(644,415)
Accumulated depreciation, amortisation and impairment | Gas and Energy Concession Arrangement [Member]
Disclosure of detailed information about service concession arrangements [line items]
Begining Balance	(369,893)	(369,893)	(251,731)	(149,743)
Reclassification to PPE		(665)	841	(2,111)
Amortization of the year		(129,509)	(119,549)	(100,850)
Withdrawals / sales		147	630	973
Foreign exchange adjustment		(1,817)	(84)
Cost / Amortization		(131,844)	(118,162)	(101,988)
Ending Balance		(501,737)	(369,893)	(251,731)
Accumulated depreciation, amortisation and impairment | Infrastructure Concession Arrangement [Member]
Disclosure of detailed information about service concession arrangements [line items]
Begining Balance	$ (557,624)	(557,624)	(392,684)	(232,865)
Reclassification to PPE				(2)
Amortization of the year		(170,701)	(164,940)	(159,817)
Withdrawals / sales		(21,230)
Cost / Amortization		(191,931)	(164,940)	(159,819)
Ending Balance		$ (749,555)	$ (557,624)	$ (392,684)

CONCESSION ARRANGEMENTS RIGHT_5

CONCESSION ARRANGEMENTS RIGHTS - Summary of the main concession contracts (Details)	12 Months Ended
	Dec. 31, 2018
Surtigas S.A. E.S.P.
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	100.00%
Transmetano E.S.P. S.A
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	100.00%
Promigas S.A. E.S.P.
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	100.00%
Promioriente S.A. E.S.P
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	100.00%
Gases de Occidente S.A. E.S.P
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	100.00%
Compania Energetica de Occidente S.A. E.S.P.
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	34.00%
Gases del Pacifico S.A.C.
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	37.00%
Sociedad Portuaria El Cayao S.A. E.S.P.
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	100.00%
Proyectos de Infraestructura S.A.
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	100.00%
Concesionaria vial de los Andes S.A.S. Coviandes
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	100.00%
Concesiones CCFC S.A.S.
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	100.00%
Concesionaria Panamericana S.A.S.
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	100.00%
Concesionaria Vial del Pacifico S.A.S.
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	14.03%
Concesionaria Nueva Via del Mar S.A.S.
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	2.61%
Concesionaria Vial Andina S.A.S.
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	38.37%
Concesionaria Vial Del Oriente S.A.S.
Disclosure of detailed information about service concession arrangements [line items]
Percentage of progress of building	12.83%

CONCESSION ARRANGEMENTS RIGHT_6

CONCESSION ARRANGEMENTS RIGHTS - Textual (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about service concession arrangements [line items]
Percentage of voting equity interests acquired		40.00%
Concesionaria Nueva Via Al Mar S.A.S.
Disclosure of detailed information about service concession arrangements [line items]
Percentage of voting equity interests acquired		40.00%
Concesionaria Vial Del Pacífico
Disclosure of detailed information about service concession arrangements [line items]
Percentage of voting equity interests acquired		40.00%
Corficolombiana S.A
Disclosure of detailed information about service concession arrangements [line items]
Increase In Financial Asset Granted At Amortized Cost		$ 396,467
Infrastructure Concession Arrangement [Member] | Proyectos de infractructura SA [Member]
Disclosure of detailed information about service concession arrangements [line items]
Amortization offset against liability	$ 21,230

GOODWILL - Roll forwards (Detai

GOODWILL - Roll forwards (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[2]	Dec. 31, 2018COP ($)		Dec. 31, 2017COP ($)
Disclosure of reconciliation of changes in goodwill [abstract]
Balance at the beginning of the year			$ 6,901,056	[1]	$ 6,824,935
Additions / Purchases					102,376
Foreign exchange adjustment			417,538		(26,255)
Balance at the end of the year	$ 2,252		$ 7,318,594		$ 6,901,056	[1]
[1]	See note 2.32, Changes in presentation.
[2]	See note 2.4, “convenience translation into U.S. dollars”.

GOODWILL - Carrying Amount (Det

GOODWILL - Carrying Amount (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of information for cash-generating units [line items]
Goodwill carrying amount	$ 2,252		$ 7,318,594	$ 6,901,056	[2]	$ 6,824,935
Recoverable amount of asset or cash-generating unit			4,056,799
Leasing Bogota Panama S.A.
Disclosure of information for cash-generating units [line items]
Goodwill carrying amount			5,105,901	4,688,363
Book value of cash-generating unit			12,808,191
Recoverable amount of asset or cash-generating unit			18,531,491
Banco de Bogotá S.A. over Megabanco
Disclosure of information for cash-generating units [line items]
Goodwill carrying amount			465,905	465,905
Book value of cash-generating unit			7,403,179
Recoverable amount of asset or cash-generating unit			9,865,076
Promigas S.A. E.S.P.
Disclosure of information for cash-generating units [line items]
Goodwill carrying amount			169,687	169,687
Concesionaria Panamericana S.A.S.
Disclosure of information for cash-generating units [line items]
Goodwill carrying amount			119,915	119,915
Concesionaria Covipacífico S.A.S.
Disclosure of information for cash-generating units [line items]
Goodwill carrying amount			102,376	102,376
Hoteles Estelar S. A.
Disclosure of information for cash-generating units [line items]
Goodwill carrying amount			6,661	6,661
Banco de Occidente S.A. over Banco Unión
Disclosure of information for cash-generating units [line items]
Goodwill carrying amount			22,724	22,724
Banco Popular S.A.
Disclosure of information for cash-generating units [line items]
Goodwill carrying amount			358,401	358,401
Banco de Bogota S.A.
Disclosure of information for cash-generating units [line items]
Goodwill carrying amount			301,222	301,222
Banco de Occidente S.A.
Disclosure of information for cash-generating units [line items]
Goodwill carrying amount			127,571	127,571
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A.
Disclosure of information for cash-generating units [line items]
Goodwill carrying amount			538,231	$ 538,231
Book value of cash-generating unit			$ 3,188,895
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

GOODWILL - Projection (Details)

GOODWILL - Projection (Details) - Leasing Bogota Panama S.A.	Dec. 31, 2018	Dec. 31, 2017
Disclosure of reconciliation of changes in goodwill [line items]
Discount rate after taxes	11.80%
Growth rate after ten years	3.00%
Not later than one year [member]
Disclosure of reconciliation of changes in goodwill [line items]
Lending rate on the loan portfolio and investments	11.40%	11.00%
Borrowing rate	2.90%	2.70%
Growth in income from commissions	2.00%	6.50%
Growth in expenses	5.30%	6.10%
Discount rate after taxes	11.80%	11.30%
Growth rate after ten years	3.00%	3.00%
Later than one year and not later than two years [member]
Disclosure of reconciliation of changes in goodwill [line items]
Lending rate on the loan portfolio and investments	11.40%	11.00%
Borrowing rate	3.00%	2.80%
Growth in income from commissions	7.70%	8.30%
Growth in expenses	6.20%	6.20%
Later than two years and not later than three years [member]
Disclosure of reconciliation of changes in goodwill [line items]
Lending rate on the loan portfolio and investments	11.40%	11.00%
Borrowing rate	3.00%	2.90%
Growth in income from commissions	8.00%	8.20%
Growth in expenses	5.80%	6.70%
Later than three years and not later than four years [member]
Disclosure of reconciliation of changes in goodwill [line items]
Lending rate on the loan portfolio and investments	11.30%	11.00%
Borrowing rate	3.00%	3.00%
Growth in income from commissions	7.80%	8.20%
Growth in expenses	6.00%	6.70%
Later than four years and not later than five years [member]
Disclosure of reconciliation of changes in goodwill [line items]
Lending rate on the loan portfolio and investments	11.30%	11.10%
Borrowing rate	3.00%	3.00%
Growth in income from commissions	7.70%	8.30%
Growth in expenses	6.30%	6.80%

GOODWILL - Cash Generating Unit

GOODWILL - Cash Generating Units (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)		Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 2,252	[1]	$ 7,318,594	$ 6,901,056	[2]	$ 6,824,935
Banco de Bogotá S.A. over Megabanco
Disclosure of reconciliation of changes in goodwill [line items]
Percentage of goodwill allocated	100.00%		100.00%
Goodwill			$ 465,905	$ 465,905
Cash-generating units four [Member]
Disclosure of reconciliation of changes in goodwill [line items]
Percentage of goodwill allocated	6.70%		6.70%
Goodwill			$ 31,304
Cash-generating units three [Member]
Disclosure of reconciliation of changes in goodwill [line items]
Percentage of goodwill allocated	27.00%		27.00%
Goodwill			$ 125,934
Cash-generating units two [Member]
Disclosure of reconciliation of changes in goodwill [line items]
Percentage of goodwill allocated	30.80%		30.80%
Goodwill			$ 143,287
Cash-generating units one [Member]
Disclosure of reconciliation of changes in goodwill [line items]
Percentage of goodwill allocated	32.70%		32.70%
Goodwill			$ 152,539
Cash-generating units five [Member]
Disclosure of reconciliation of changes in goodwill [line items]
Percentage of goodwill allocated	2.80%		2.80%
Goodwill			$ 12,841
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

GOODWILL - Cash Generating Un_2

GOODWILL - Cash Generating Units with Allocated Goodwill (Details) - Banco de Bogotá S.A. over Megabanco	Dec. 31, 2018	Dec. 31, 2017
Disclosure of reconciliation of changes in goodwill [line items]
Discount rate after taxes	14.00%
Growth rate after five years	3.10%
Not later than one year [member]
Disclosure of reconciliation of changes in goodwill [line items]
Lending rate on the loan portfolio and investments	9.40%	9.60%
Borrowing rate	3.50%	3.60%
Growth in income from commissions	9.90%	9.20%
Growth in expenses	3.70%	2.50%
Inflation	2.90%	3.30%
Discount rate after taxes	14.00%	14.00%
Growth rate after five years	3.10%	3.50%
Later than one year and not later than two years [member]
Disclosure of reconciliation of changes in goodwill [line items]
Lending rate on the loan portfolio and investments	10.00%	9.40%
Borrowing rate	3.80%	3.30%
Growth in income from commissions	7.50%	7.70%
Growth in expenses	3.90%	4.00%
Inflation	3.10%	3.40%
Later than two years and not later than three years [member]
Disclosure of reconciliation of changes in goodwill [line items]
Lending rate on the loan portfolio and investments	10.10%	9.30%
Borrowing rate	3.90%	3.20%
Growth in income from commissions	8.00%	7.80%
Growth in expenses	3.10%	4.00%
Inflation	2.70%	3.20%
Later than three years and not later than four years [member]
Disclosure of reconciliation of changes in goodwill [line items]
Lending rate on the loan portfolio and investments	10.30%	9.50%
Borrowing rate	4.20%	3.60%
Growth in income from commissions	7.90%	8.50%
Growth in expenses	3.50%	5.10%
Inflation	3.50%	3.30%
Later than four years and not later than five years [member]
Disclosure of reconciliation of changes in goodwill [line items]
Lending rate on the loan portfolio and investments	10.50%	9.60%
Borrowing rate	4.30%	3.80%
Growth in income from commissions	8.30%	8.50%
Growth in expenses	3.60%	4.40%
Inflation	3.30%	3.60%

GOODWILL - Projection Rate (Det

GOODWILL - Projection Rate (Details) - Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A.	Dec. 31, 2018	Dec. 31, 2017
Disclosure of reconciliation of changes in goodwill [line items]
Discount interest rate after taxes	13.00%
Growth rate after twenty years	3.10%
Not later than one year [member]
Disclosure of reconciliation of changes in goodwill [line items]
Interest rate on investments	4.60%	5.80%
Borrowing rate	6.30%	6.30%
Growth in income from commissions	1.00%	14.20%
Growth in expenses	4.30%	11.20%
Inflation	2.90%	3.30%
Discount interest rate after taxes	13.00%	13.00%
Growth rate after twenty years	3.10%	3.50%
Later than one year and not later than two years [member]
Disclosure of reconciliation of changes in goodwill [line items]
Interest rate on investments	5.70%	5.90%
Borrowing rate	6.30%	6.30%
Growth in income from commissions	9.40%	8.00%
Growth in expenses	4.60%	6.70%
Inflation	3.10%	3.40%
Later than two years and not later than three years [member]
Disclosure of reconciliation of changes in goodwill [line items]
Interest rate on investments	5.70%	5.70%
Borrowing rate	6.30%	6.30%
Growth in income from commissions	7.50%	7.70%
Growth in expenses	5.60%	6.10%
Inflation	2.70%	3.20%
Later than three years and not later than four years [member]
Disclosure of reconciliation of changes in goodwill [line items]
Interest rate on investments	6.50%	5.80%
Borrowing rate	6.30%	6.30%
Growth in income from commissions	7.80%	7.60%
Growth in expenses	6.60%	6.10%
Inflation	3.50%	3.30%
Later than four years and not later than five years [member]
Disclosure of reconciliation of changes in goodwill [line items]
Interest rate on investments	6.30%	6.20%
Borrowing rate	6.30%	6.30%
Growth in income from commissions	6.80%	7.50%
Growth in expenses	0.50%	6.40%
Inflation	3.30%	3.60%

GOODWILL - Textual (Details)

GOODWILL - Textual (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of reconciliation of changes in goodwill [line items]
Percentage of voting equity interests acquired		40.00%
Additional recognition, goodwill		$ 102,376
Recoverable amount of asset or cash-generating unit	$ 4,056,799
Banco Bilbao Vizcaya Argentaria S.A. Panama [Member]
Disclosure of reconciliation of changes in goodwill [line items]
Percentage of voting equity interests acquired	98.92%
Grupo Financiero Reformador de Guatemala [Member]
Disclosure of reconciliation of changes in goodwill [line items]
Percentage of voting equity interests acquired	100.00%
Banco de Credito y Desarrollo Social [Member]
Disclosure of reconciliation of changes in goodwill [line items]
Percentage of voting equity interests acquired	94.99%
Medios de Pago MP S.A [Member]
Disclosure of reconciliation of changes in goodwill [line items]
Percentage of voting equity interests acquired	100.00%
Gain (loss) that relates to identifiable assets acquired or liabilities assumed in business combination and is of such size, nature or incidence that disclosure is relevant to understanding combined entity's financial statements	$ 853,401
COINCA Corporation Inc [Member]
Disclosure of reconciliation of changes in goodwill [line items]
Percentage of voting equity interests acquired	100.00%
Cash-generating units
Disclosure of reconciliation of changes in goodwill [line items]
Impairment loss	$ 0	$ 0
Leasing Bogota Panama S.A.
Disclosure of reconciliation of changes in goodwill [line items]
Explanation of period over which management has projected cash flows	10 years
Recoverable amount of asset or cash-generating unit	$ 18,531,491
Book value of cash-generating unit	$ 12,808,191
Growth rate used to extrapolate cash flow projections	3.00%
Discount rate applied to cash flow projections	11.80%
Increase decrease in discount rate applied to cash flow projections	1.00%
Recoverable value if discount rate was 1.0% higher	$ 16,068,408
Exceeds the Book Value Of Cash generating Unit	$ 5,723,300
Banco de Bogotá S.A. over Megabanco
Disclosure of reconciliation of changes in goodwill [line items]
Explanation of period over which management has projected cash flows	5 years
Recoverable amount of asset or cash-generating unit	$ 9,865,076
Book value of cash-generating unit	$ 7,403,179
Growth rate used to extrapolate cash flow projections	3.10%
Discount rate applied to cash flow projections	14.00%
Increase decrease in discount rate applied to cash flow projections	1.00%
Exceeds the Book Value Of Cash generating Unit	$ 2,461,897
Banco de Bogota S.A.
Disclosure of reconciliation of changes in goodwill [line items]
Recoverable value if discount rate was 1.0% higher	$ 9,044,053
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A.
Disclosure of reconciliation of changes in goodwill [line items]
Explanation of period over which management has projected cash flows	20 years
Book value of cash-generating unit	$ 3,188,895
Growth rate used to extrapolate cash flow projections	3.10%
Discount rate applied to cash flow projections	13.00%
Increase decrease in discount rate applied to cash flow projections	1.00%
Recoverable value if discount rate was 1.0% higher	$ 3,661,147
Exceeds the Book Value Of Cash generating Unit	$ 867,904

OTHER INTANGIBLE ASSETS (Detail

OTHER INTANGIBLE ASSETS (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Other intangibles assets
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	$ 1,033,884	$ 848,681
Other intangibles assets | Cost
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	1,634,149	1,289,253
Other intangibles assets | Accumulated depreciation and amortization
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	(600,265)	(440,572)
Software and information technology applications purchased
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	660,280	552,443
Software and information technology applications purchased | Internally generated
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	621,993	444,195
Software and information technology applications purchased | Non-internally generated
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	38,287	108,248
Software and information technology applications purchased | Cost
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	1,035,643	845,402
Software and information technology applications purchased | Cost | Internally generated
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	927,246	681,167
Software and information technology applications purchased | Cost | Non-internally generated
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	108,397	164,235
Software and information technology applications purchased | Accumulated depreciation and amortization
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	(375,363)	(292,959)
Software and information technology applications purchased | Accumulated depreciation and amortization | Internally generated
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	(305,253)	(236,972)
Software and information technology applications purchased | Accumulated depreciation and amortization | Non-internally generated
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	(70,110)	(55,987)
Licences
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	320,655	253,728
Licences | Internally generated
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	85,347	67,119
Licences | Non-internally generated
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	235,308	186,609
Licences | Cost
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	529,074	391,726
Licences | Cost | Internally generated
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	117,330	86,249
Licences | Cost | Non-internally generated
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	411,744	305,477
Licences | Accumulated depreciation and amortization
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	(208,419)	(137,998)
Licences | Accumulated depreciation and amortization | Internally generated
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	(31,983)	(19,130)
Licences | Accumulated depreciation and amortization | Non-internally generated
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	(176,436)	(118,868)
Other intangible assets excluding software and information technology applications purchased and licences
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	52,949	42,510
Other intangible assets excluding software and information technology applications purchased and licences | Cost
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	69,432	52,125
Other intangible assets excluding software and information technology applications purchased and licences | Accumulated depreciation and amortization
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill	$ (16,483)	$ (9,615)

INCOME TAX - Components of the

INCOME TAX - Components of the income tax expense (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of income tax [Abstract]
Current period income tax			$ 1,746,881	$ 1,276,458		$ 1,264,066
Income tax surcharge			95,630	151,980
CREE tax						295,324
CREE surcharge						193,425
Subtotal current period taxes			1,842,511	1,428,438		1,752,815
Prior years adjustments			(74,230)	(117,568)		(13,440)
Adjustment due to settlement of uncertain tax positions form prior years			24,277	(7,367)		(31,067)
Deferred taxes			357,032	449,291		348,601
Total tax expense (income)	$ 661.5		$ 2,149,590	$ 1,752,794	[2]	$ 2,056,909	[2]
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

INCOME TAX - Reconciliation bet

INCOME TAX - Reconciliation between total expenses of income tax and tax expense (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)		Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of income tax [Line Items]
Profit before income tax			$ 7,334,141	$ 4,915,227		$ 5,573,845
Enacted tax rate in Colombia	37.00%		37.00%	40.00%		40.00%
Theoretical income tax expense			$ 2,713,632	$ 1,966,091		$ 2,229,538
Non deductible expenses			373,918	387,933		339,803
Tax losses considered non recoverable for income tax purpose			100,249	96,266		140,904
Presumptive income considered non recoverable for income tax purpose			33,296	7,991		45,385
Wealth tax				40,762		107,051
Nontaxable dividends			(23,457)	(19,587)		(15,655)
Nontaxable income under equity method in associates			(39,901)	(68,026)		(56,306)
Profit (loss) in sales or appraisal of investment			(2,148)	(16,584)		(71,669)
Nontaxable interest income and other income			(212,992)	(137,312)		(150,714)
Other nontaxable income			(167,091)	(155,010)		(83,742)
Revenues taxable by different tax rate			15,378	(658)		(14,983)
Difference from expenses deductibles at different tax rate			(11,060)	(11,822)		(4,679)
Tax benefits in the acquisition of property and equipment			(22,715)	(20,585)		(66,245)
Profits (losses) in Subsidiaries in tax free countries or with different tax rate			(168,117)	(200,661)		(143,109)
Effect on the deferred income tax due to changes in tax rates			(308,534)	(38,574)		(96,232)
Expenses considered non recoverable for deferred income tax purposes						1,465
Prior year adjustments			(74,230)	(117,568)		(13,440)
Adjustments due to uncertain tax positions in previous year			24,277	(7,367)		(31,067)
Other			(80,915)	47,505		(59,396)
Total tax expense (income)	$ 661.5	[1]	$ 2,149,590	$ 1,752,794	[2]	$ 2,056,909	[2]
Effective income tax rate	29.31%		29.31%	35.66%		36.90%
Deferred tax rate, current	30.00%		30.00%
Deferred tax rate, previous	33.00%		33.00%
Corporacion Financiera Colombiana S.A.
Disclosure of income tax [Line Items]
Effect on the deferred income tax due to changes in tax rates			$ (233,865)
Banco de Bogota S.A.
Disclosure of income tax [Line Items]
Effect on the deferred income tax due to changes in tax rates			(59,054)
Banco de Occidente S.A.
Disclosure of income tax [Line Items]
Effect on the deferred income tax due to changes in tax rates			(8,408)
Banco Comercial AV Villas S.A.
Disclosure of income tax [Line Items]
Effect on the deferred income tax due to changes in tax rates			(6,934)
Banco Popular S.A.
Disclosure of income tax [Line Items]
Effect on the deferred income tax due to changes in tax rates			$ (362)
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

INCOME TAX - Tax losses and exc

INCOME TAX - Tax losses and excess of presumptive income (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of income tax [Line Items]
Tax loss carry forwards not recognized as deferred tax assets	$ 904,584	$ 654,057
Excess of presumptive income not recognized as deferred tax assets	267,481	268,153
Tax loss carry forwards and excess of presumptive income not recognized as deferred tax assets	1,172,065	922,210
Not later than one year [member]
Disclosure of income tax [Line Items]
Excess of presumptive income not recognized as deferred tax assets	61,152	43,668
Later than one year and not later than two years [member]
Disclosure of income tax [Line Items]
Tax loss carry forwards not recognized as deferred tax assets		4,732
Excess of presumptive income not recognized as deferred tax assets	45,738	64,590
Later than two years and not later than three years [member]
Disclosure of income tax [Line Items]
Tax loss carry forwards not recognized as deferred tax assets		1,758
Excess of presumptive income not recognized as deferred tax assets	61,296	48,170
Later than three years and not later than four years [member]
Disclosure of income tax [Line Items]
Tax loss carry forwards not recognized as deferred tax assets	66
Excess of presumptive income not recognized as deferred tax assets	51,077	64,998
Later than four years and not later than five years [member]
Disclosure of income tax [Line Items]
Excess of presumptive income not recognized as deferred tax assets	48,218	46,727
Later than six years and not later than seven years [member]
Disclosure of income tax [Line Items]
Tax loss carry forwards not recognized as deferred tax assets	1,216
Later than ten years and not later than eleven years [member]
Disclosure of income tax [Line Items]
Tax loss carry forwards not recognized as deferred tax assets	173,118
Later than eleven years and not later than twelve years [member]
Disclosure of income tax [Line Items]
Tax loss carry forwards not recognized as deferred tax assets	271,685	3,107
Later than twelve years and not later than thirteen years [member]
Disclosure of income tax [Line Items]
Tax loss carry forwards not recognized as deferred tax assets		160,084
Without expiration date [member]
Disclosure of income tax [Line Items]
Tax loss carry forwards not recognized as deferred tax assets	$ 458,499	$ 484,376

INCOME TAX - Deferred taxes by

INCOME TAX - Deferred taxes by type of temporary difference (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	$ (1,557,420)	$ (1,051,847)	$ (301,971)
Change in accounting policies	154,208
Credited (charged) to profit or loss	(357,032)	(449,291)	(348,601)
Deferred tax expense (income) credited (charged) to OCI	(62,659)	(60,960)	(396,125)
Netting reclassifications	3,299	4,678	(5,150)
Deferred tax (liabilities) assets at the end of the period	(1,819,604)	(1,557,420)	(1,051,847)
Deferred tax assets [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	1,520,787	1,637,801	2,271,478
Change in accounting policies	125,629
Credited (charged) to profit or loss	320,619	(123,089)	(236,997)
Deferred tax expense (income) credited (charged) to OCI	(55,390)	624	(335,925)
Netting reclassifications	(48,396)	5,451	(60,755)
Deferred tax (liabilities) assets at the end of the period	1,863,249	1,520,787	1,637,801
Deferred tax assets [Member] | Debt securities at fair value [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	8,081	62,627	290,465
Change in accounting policies	(2,431)
Credited (charged) to profit or loss	18,840	(30,580)	(5,459)
Deferred tax expense (income) credited (charged) to OCI	4,563	(23,966)	(212,090)
Netting reclassifications	597		(10,289)
Deferred tax (liabilities) assets at the end of the period	29,650	8,081	62,627
Deferred tax assets [Member] | Equity securities at fair value [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	8	1,583	323
Change in accounting policies	102
Credited (charged) to profit or loss	512	(1,254)	(26,416)
Deferred tax expense (income) credited (charged) to OCI		(321)	27,676
Deferred tax (liabilities) assets at the end of the period	622	8	1,583
Deferred tax assets [Member] | Derivative instruments [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	36,805	78,740	518,992
Credited (charged) to profit or loss	(102,681)	(41,935)	(223,831)
Deferred tax expense (income) credited (charged) to OCI	185,803		(165,894)
Netting reclassifications	(46,773)		(50,527)
Deferred tax (liabilities) assets at the end of the period	73,154	36,805	78,740
Deferred tax assets [Member] | Allowance Inversions [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	366
Change in accounting policies	31
Credited (charged) to profit or loss	(264)
Netting reclassifications	3
Deferred tax (liabilities) assets at the end of the period	136	366
Deferred tax assets [Member] | Accounts receivables [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	699	16,278	7,852
Credited (charged) to profit or loss		(15,589)	8,426
Netting reclassifications		10
Deferred tax (liabilities) assets at the end of the period		699	16,278
Deferred tax assets [Member] | Allowance for Accounts Receivable [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	333
Credited (charged) to profit or loss	44,660
Netting reclassifications	(3,603)
Deferred tax (liabilities) assets at the end of the period	41,390	333
Deferred tax assets [Member] | Loans and receivables
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	71,938	6,014	5,652
Change in accounting policies	64,527
Credited (charged) to profit or loss	(121,072)	65,924	362
Netting reclassifications	(476)
Deferred tax (liabilities) assets at the end of the period	14,917	71,938	6,014
Deferred tax assets [Member] | Allowance for impairment on loans and receivables [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	66,127	105,573	96,054
Change in accounting policies	68,513
Credited (charged) to profit or loss	13,808	(39,446)	9,679
Netting reclassifications	10,721		(160)
Deferred tax (liabilities) assets at the end of the period	159,169	66,127	105,573
Deferred tax assets [Member] | Allowance for other accounts receivable [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	4,649	6,219	18,119
Credited (charged) to profit or loss	(4,649)	(1,570)	(11,900)
Deferred tax (liabilities) assets at the end of the period		4,649	6,219
Deferred tax assets [Member] | Financial assets in concession contracts [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	28,536	25,837	12,096
Change in accounting policies	(6,322)
Credited (charged) to profit or loss	136,431	2,571	13,741
Netting reclassifications		128
Deferred tax (liabilities) assets at the end of the period	158,645	28,536	25,837
Deferred tax assets [Member] | Foreclosed assets
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	18,161	4,846	13,326
Credited (charged) to profit or loss	(15,474)	13,315	(8,480)
Netting reclassifications	240
Deferred tax (liabilities) assets at the end of the period	2,927	18,161	4,846
Deferred tax assets [Member] | Property, plant and equipment costs
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	364,540	296,269	58,505
Credited (charged) to profit or loss	(77,625)	68,271	237,739
Netting reclassifications	(2,804)		25
Deferred tax (liabilities) assets at the end of the period	284,111	364,540	296,269
Deferred tax assets [Member] | Depreciation of Property, Plant and Equipment [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	11,993	5,699	5,415
Credited (charged) to profit or loss	8,854	6,294	284
Netting reclassifications	56
Deferred tax (liabilities) assets at the end of the period	20,903	11,993	5,699
Deferred tax assets [Member] | Deferred charges and of intangible assets
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	145,625	113,817	77,055
Credited (charged) to profit or loss	23,233	30,922	37,167
Netting reclassifications	(2)	886	(405)
Deferred tax (liabilities) assets at the end of the period	168,856	145,625	113,817
Deferred tax assets [Member] | Tax losses carry forward [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	332,354	385,855	527,153
Credited (charged) to profit or loss	365,698	(53,556)	(140,623)
Deferred tax expense (income) credited (charged) to OCI	(402,042)
Netting reclassifications	3,191	55	(675)
Deferred tax (liabilities) assets at the end of the period	299,201	332,354	385,855
Deferred tax assets [Member] | Surplus of presumptive income [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	2,528	19,480	166,116
Credited (charged) to profit or loss	2,142	(16,952)	(146,636)
Deferred tax (liabilities) assets at the end of the period	4,670	2,528	19,480
Deferred tax assets [Member] | Provisions [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	197,963	212,695	146,578
Change in accounting policies	(11,038)
Credited (charged) to profit or loss	2,163	(17,649)	60,716
Deferred tax expense (income) credited (charged) to OCI			5,706
Netting reclassifications	794	2,917	(305)
Deferred tax (liabilities) assets at the end of the period	189,882	197,963	212,695
Deferred tax assets [Member] | Employee benefits [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	98,924	104,606	101,224
Credited (charged) to profit or loss	41,406	(29,658)	(5,718)
Deferred tax expense (income) credited (charged) to OCI	(9,394)	23,976	8,677
Netting reclassifications	847		423
Deferred tax (liabilities) assets at the end of the period	131,783	98,924	104,606
Deferred tax assets [Member] | Goodwill [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period			6,947
Credited (charged) to profit or loss			(6,947)
Deferred tax assets [Member] | Deferred income [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period		113,380	35,857
Change in accounting policies	12,349
Credited (charged) to profit or loss	(9,762)	(113,380)	77,523
Deferred tax (liabilities) assets at the end of the period	2,587		113,380
Deferred tax assets [Member] | Biological asset [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	169	101	369
Credited (charged) to profit or loss	(65)	68	(268)
Deferred tax (liabilities) assets at the end of the period	104	169	101
Deferred tax assets [Member] | Lease agreement [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	8,042	9,160	8,414
Credited (charged) to profit or loss	625	(1,118)	746
Netting reclassifications	(75)
Deferred tax (liabilities) assets at the end of the period	8,592	8,042	9,160
Deferred tax assets [Member] | Other
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	123,645	69,022	174,966
Change in accounting policies	(102)
Credited (charged) to profit or loss	(6,161)	52,233	(107,102)
Deferred tax expense (income) credited (charged) to OCI	165,680	935
Netting reclassifications	(11,112)	1,455	1,158
Deferred tax (liabilities) assets at the end of the period	271,950	123,645	69,022
Deferred tax liabilities [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(3,078,207)	(2,689,648)	(2,573,449)
Change in accounting policies	28,579
Credited (charged) to profit or loss	(677,651)	(326,202)	(111,604)
Deferred tax expense (income) credited (charged) to OCI	(7,269)	(61,584)	(60,200)
Netting reclassifications	51,695	(773)	55,605
Deferred tax (liabilities) assets at the end of the period	(3,682,853)	(3,078,207)	(2,689,648)
Deferred tax liabilities [Member] | Debt securities at fair value [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(44,492)	(27,278)	(19,943)
Change in accounting policies	9,555
Credited (charged) to profit or loss	(14,843)	29,105	44,338
Deferred tax expense (income) credited (charged) to OCI	26	(46,319)	(51,673)
Netting reclassifications	(183)
Deferred tax (liabilities) assets at the end of the period	(49,937)	(44,492)	(27,278)
Deferred tax liabilities [Member] | Equity securities at fair value [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(121,226)	(100,484)	(104,317)
Change in accounting policies	(298)
Credited (charged) to profit or loss	7,361	302	(9,072)
Deferred tax expense (income) credited (charged) to OCI	2,084	33	13,059
Netting reclassifications	(3,798)	(21,077)	(154)
Deferred tax (liabilities) assets at the end of the period	(115,877)	(121,226)	(100,484)
Deferred tax liabilities [Member] | Derivative instruments [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(87,525)	(67,974)	(333,317)
Credited (charged) to profit or loss	23,187	(15,190)	240,468
Deferred tax expense (income) credited (charged) to OCI		(4,361)	(21,586)
Netting reclassifications	46,773		46,461
Deferred tax (liabilities) assets at the end of the period	(17,565)	(87,525)	(67,974)
Deferred tax liabilities [Member] | Allowance Inversions [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(182)
Change in accounting policies	57
Credited (charged) to profit or loss	(23,025)
Netting reclassifications		(182)
Deferred tax (liabilities) assets at the end of the period	(23,150)	(182)
Deferred tax liabilities [Member] | Accounts receivables [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(306,774)	(260,621)
Change in accounting policies	(17)
Credited (charged) to profit or loss	17,677	(46,335)	(260,621)
Deferred tax expense (income) credited (charged) to OCI	1,588
Netting reclassifications		182
Deferred tax (liabilities) assets at the end of the period	(287,526)	(306,774)	(260,621)
Deferred tax liabilities [Member] | Loans and receivables
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(322,746)	(268,747)	(238,492)
Change in accounting policies	3,668
Credited (charged) to profit or loss	256,357	(53,999)	(30,255)
Netting reclassifications	(846)
Deferred tax (liabilities) assets at the end of the period	(63,567)	(322,746)	(268,747)
Deferred tax liabilities [Member] | Allowance for impairment on loans and receivables [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(397,838)	(275,785)	(227,336)
Change in accounting policies	204,100
Credited (charged) to profit or loss	(77,442)	(122,053)	(48,449)
Netting reclassifications	233
Deferred tax (liabilities) assets at the end of the period	(270,947)	(397,838)	(275,785)
Deferred tax liabilities [Member] | Financial assets in concession contracts [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(700,738)	(718,496)	(627,666)
Change in accounting policies	(228,241)
Credited (charged) to profit or loss	30,238	20,548	(90,830)
Netting reclassifications		(2,790)
Deferred tax (liabilities) assets at the end of the period	(898,741)	(700,738)	(718,496)
Deferred tax liabilities [Member] | Foreclosed assets
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(72,209)	(46,783)	(83,774)
Credited (charged) to profit or loss	(20,314)	(25,426)	36,991
Netting reclassifications	107
Deferred tax (liabilities) assets at the end of the period	(92,416)	(72,209)	(46,783)
Deferred tax liabilities [Member] | Property, plant and equipment costs
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(363,814)	(400,180)	(355,478)
Credited (charged) to profit or loss	11,305	36,404	(44,865)
Netting reclassifications	(4,875)	(38)	163
Deferred tax (liabilities) assets at the end of the period	(357,384)	(363,814)	(400,180)
Deferred tax liabilities [Member] | Depreciation of Property, Plant and Equipment [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(179,877)	(209,549)	(227,591)
Credited (charged) to profit or loss	9,908	30,948	18,114
Netting reclassifications	(169)	(1,276)	(72)
Deferred tax (liabilities) assets at the end of the period	(170,138)	(179,877)	(209,549)
Deferred tax liabilities [Member] | Deferred charges and of intangible assets
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(107,721)	(60,598)	(60,003)
Credited (charged) to profit or loss	(514,157)	(47,123)	(595)
Deferred tax (liabilities) assets at the end of the period	(621,878)	(107,721)	(60,598)
Deferred tax liabilities [Member] | Provisions [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(575)	(471)	(1,961)
Credited (charged) to profit or loss	(22,312)	(62)	1,490
Deferred tax expense (income) credited (charged) to OCI	304	116
Netting reclassifications	(1,697)	(158)
Deferred tax (liabilities) assets at the end of the period	(24,280)	(575)	(471)
Deferred tax liabilities [Member] | Goodwill [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(169,675)	(86,036)	(42,822)
Credited (charged) to profit or loss	(23,355)	(83,639)	(43,214)
Deferred tax (liabilities) assets at the end of the period	(193,030)	(169,675)	(86,036)
Deferred tax liabilities [Member] | Deferred income [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(40,534)	(34,613)	(26,940)
Change in accounting policies	40,534
Credited (charged) to profit or loss	(116,034)	(5,921)	(7,673)
Deferred tax (liabilities) assets at the end of the period	(116,034)	(40,534)	(34,613)
Deferred tax liabilities [Member] | Biological asset [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(16,583)	(6,806)	(17,578)
Credited (charged) to profit or loss	(6,750)	(9,777)	3,320
Netting reclassifications			7,452
Deferred tax (liabilities) assets at the end of the period	(23,333)	(16,583)	(6,806)
Deferred tax liabilities [Member] | Lease agreement [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(32,636)
Credited (charged) to profit or loss	28,343
Netting reclassifications		(32,636)
Deferred tax (liabilities) assets at the end of the period	(4,293)	(32,636)
Deferred tax liabilities [Member] | Other
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(71,408)	(65,400)	(152,824)
Change in accounting policies	(779)
Credited (charged) to profit or loss	(176,699)	(30,128)	85,669
Deferred tax expense (income) credited (charged) to OCI	(11,271)	(11,053)
Netting reclassifications	16,492	35,173	1,755
Deferred tax (liabilities) assets at the end of the period	(243,665)	(71,408)	(65,400)
Deferred tax liabilities [Member] | Provision for foreclosed assets [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period	(41,654)	(37,798)	(15,198)
Credited (charged) to profit or loss	(67,096)	(3,856)	(22,600)
Netting reclassifications	(342)
Deferred tax (liabilities) assets at the end of the period	$ (109,092)	(41,654)	(37,798)
Deferred tax liabilities [Member] | Unrealized profits of foreign subsidiaries [Member]
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax (liabilities) assets at the beginning of the period		(22,029)	(38,209)
Credited (charged) to profit or loss			16,180
Netting reclassifications		$ 22,029
Deferred tax (liabilities) assets at the end of the period			$ (22,029)

INCOME TAX - Deferred tax asset

INCOME TAX - Deferred tax assets and liabilities (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	Dec. 31, 2015COP ($)
Disclosure of income tax [Abstract]
Gross deferred tax assets			$ 1,863,249	$ 1,520,787
Gross deferred tax liabilities			(3,682,853)	(3,078,207)
Gross deferred tax liability (asset)			(1,819,604)	(1,557,420)
Deferred tax assets, offset			(1,521,911)	(1,381,364)
Deferred tax liabilites, offset			1,521,911	1,381,364
Deferred tax assets	$ 105		341,338	139,423	[2]
Deferred tax liability	$ (665)		(2,160,942)	(1,696,843)	[2]
Net			$ (1,819,604)	$ (1,557,420)		$ (1,051,847)	$ (301,971)
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

INCOME TAX - Effect of the curr

INCOME TAX - Effect of the current and deferred taxes in each component of other comprehensive income in equity (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)	Dec. 31, 2016COP ($)
Disclosure of income tax [Line Items]
Amount before tax			$ (519,807)	$ 148,987	$ 666,563
Current tax (expense) income			372,715	(12,657)	31,769
Deferred tax expense (income) credited (charged) to OCI			(62,659)	(60,960)	(396,125)
Total other comprehensive income	$ (64.5)		(209,751)	75,370	302,207
Foreign Currency Translation Of Net Investments In Foreign Operations [Member]
Disclosure of income tax [Line Items]
Amount before tax			(299,804)	(91,497)	(125,161)
Current tax (expense) income				(12,657)	8,204
Deferred tax expense (income) credited (charged) to OCI			(16,006)	956
Total other comprehensive income			(315,810)	(103,198)	(116,957)
Cash Flow Hedgings [Member]
Disclosure of income tax [Line Items]
Amount before tax			(19,789)	(2,340)	17,967
Deferred tax expense (income) credited (charged) to OCI			6,697	969
Total other comprehensive income			(13,092)	(1,371)	17,967
Equity Financial Instruments [Member]
Disclosure of income tax [Line Items]
Amount before tax			(134,084)	57,245	34,509
Deferred tax expense (income) credited (charged) to OCI			(5,891)	(720)	40,735
Total other comprehensive income			(139,975)	56,525	75,244
Debt Financial Instruments [Member]
Disclosure of income tax [Line Items]
Amount before tax			(107,084)	284,480	948,212
Deferred tax expense (income) credited (charged) to OCI			11,554	(69,743)	(263,763)
Total other comprehensive income			(95,530)	214,737	684,449
Actuarial Gains Losses From Defined Benefit Pension Plans [Member]
Disclosure of income tax [Line Items]
Amount before tax			18,013	(100,232)	(41,228)
Deferred tax expense (income) credited (charged) to OCI			(7,191)	24,081	14,383
Total other comprehensive income			10,822	(76,151)	(26,845)
Hedging Of Net Investments In Foreign Subsidiaries Operations [Member]
Disclosure of income tax [Line Items]
Amount before tax			1,124,732	(47,197)	(475,000)
Total other comprehensive income			1,124,732	(47,197)	(475,000)
Hedging Derivatives In Foreign Currency [Member]
Disclosure of income tax [Line Items]
Amount before tax			(547,310)	16,832	291,506
Current tax (expense) income			372,715		47,419
Deferred tax expense (income) credited (charged) to OCI			(227,807)	(5,554)	(187,480)
Total other comprehensive income			(402,402)	11,278	151,445
Hedging Financial Liabilities In Foreign Currency [Member]
Disclosure of income tax [Line Items]
Amount before tax			(576,881)	30,568	35,819
Current tax (expense) income					(23,854)
Deferred tax expense (income) credited (charged) to OCI			176,378	(11,065)
Total other comprehensive income			(400,503)	19,503	11,965
Investment In Associates And Joint Ventures [Member]
Disclosure of income tax [Line Items]
Amount before tax			22,400	1,128	(20,061)
Deferred tax expense (income) credited (charged) to OCI			(393)	116
Total other comprehensive income			$ 22,007	$ 1,244	$ (20,061)
[1]	See note 2.4, “convenience translation into U.S. dollars”.

INCOME TAX - Uncertainties in o

INCOME TAX - Uncertainties in open tax positions (Details) - Tax contingent liability - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	$ 121,832	$ 94,692	$ 104,156	$ 145,968
Banco de Bogota S.A.
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	113,345	86,592
Banco de Occidente S.A.
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	6,095	7,657
Banco Popular S.A.
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities		$ 443
Corporacion Financiera Colombiana S.A.
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	$ 2,392

INCOME TAX - Tax uncertainties

INCOME TAX - Tax uncertainties (Details) - Tax contingent liability - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of income tax [Line Items]
Balance at the beginning of the year	$ 94,692	$ 104,156	$ 145,968
Provisions increase during the period	11,904	18,039	31,039
Provisions used	(1,088)	(873)	(1,867)
Amounts reversed due to provisions not used	(2,960)	(32,010)	(73,084)
Financial cost	16,421	7,477	12,098
Foreign exchange adjustments	2,863	(2,097)	(9,998)
Balance at the end of the year	$ 121,832	$ 94,692	$ 104,156

INCOME TAX - Tax returns expiry

INCOME TAX - Tax returns expiry (Details) - Tax contingent liability - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	$ 121,832	$ 94,692	$ 104,156	$ 145,968
Not later than one year [member]
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	3,006	3,484
Later than one year and not later than two years [member]
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	27,968	3,109
Later than two years and not later than three years [member]
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	30,478	21,579
Later than three years and not later than four years [member]
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	27,276	23,902
Later than four years and not later than five years [member]
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	31,373	23,034
Later than five years and not later than six years [member]
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	1,579	18,250
Later than six years and not later than seven years [member]
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	$ 152	$ 1,334

INCOME TAX - Textual (Details)

INCOME TAX - Textual (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of income tax [Line Items]
Applicable tax rate	37.00%	40.00%	40.00%
Amount of income exceeding which surcharge is applicable		$ 800
Unaccounted deferred tax liabilities	$ 8,231,985	6,613,585
CREE tax rate			9.00%
CREE surcharge rate			6.00%
Tax contingent liability
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	121,832	94,692	$ 104,156	$ 145,968
Subsidiaries | Bogota Panama
Disclosure of income tax [Line Items]
Applicable tax rate			0.00%
Subsidiaries | Guatemala
Disclosure of income tax [Line Items]
Applicable tax rate			25.00%
Subsidiaries | Panama
Disclosure of income tax [Line Items]
Applicable tax rate			25.00%
Subsidiaries | El Salvador,Honduras, Costa Rica, and Mexico
Disclosure of income tax [Line Items]
Applicable tax rate			30.00%
Banco de Occidente S.A.
Disclosure of income tax [Line Items]
Income tax recovery	50,316
Banco de Occidente S.A. | Tax contingent liability
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	6,095	7,657
Corporacion Financiera Colombiana S.A.
Disclosure of income tax [Line Items]
Income tax recovery	17,812
Corporacion Financiera Colombiana S.A. | Tax contingent liability
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	2,392
Banco de Bogota S.A.
Disclosure of income tax [Line Items]
Income tax recovery		109,632
Banco de Bogota S.A. | Tax contingent liability
Disclosure of income tax [Line Items]
Estimated financial effect of contingent liabilities	$ 113,345	$ 86,592
Income tax
Disclosure of income tax [Line Items]
Applicable tax rate	33.00%	34.00%	25.00%
Surcharge
Disclosure of income tax [Line Items]
Applicable tax rate	4.00%	6.00%
Capital gain Tax
Disclosure of income tax [Line Items]
Applicable tax rate		10.00%

CUSTOMER DEPOSITS - Deposits Re

CUSTOMER DEPOSITS - Deposits Received (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of Customer Deposits [Line Items]
Checking accounts	$ 12,217.2		$ 39,702,878	$ 36,017,602	[2]
Savings accounts	17,608		57,221,439	55,778,677	[2]
Other funds on demand	179.1		582,122	472,782	[2]
Total demand deposits			97,506,439	92,269,061
Balances on term deposits from customers	20,571.7		66,853,012	62,616,163	[2]
Total Customer deposits	$ 50,576		164,359,451	154,885,224	[2]
Colombia, Pesos
Disclosure of Customer Deposits [Line Items]
Total Customer deposits			99,388,366	96,797,225
Foreign currency
Disclosure of Customer Deposits [Line Items]
Total Customer deposits			64,965,716	58,083,025
Other currencies
Disclosure of Customer Deposits [Line Items]
Total Customer deposits			$ 5,369	$ 4,974
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

CUSTOMER DEPOSITS - Effective I

CUSTOMER DEPOSITS - Effective Interest Rates (Details)	Dec. 31, 2018	Dec. 31, 2017
Colombia, Pesos | Minimum | Interest Bearing Checking Accounts
Disclosure of Customer Deposits [Line Items]
Borrowings, interest rate	0.04%	0.06%
Colombia, Pesos | Minimum | Savings accounts
Disclosure of Customer Deposits [Line Items]
Borrowings, interest rate	0.01%	0.01%
Colombia, Pesos | Minimum | Fixed term deposit certificates
Disclosure of Customer Deposits [Line Items]
Borrowings, interest rate	0.05%	0.05%
Colombia, Pesos | Maximum | Interest Bearing Checking Accounts
Disclosure of Customer Deposits [Line Items]
Borrowings, interest rate	4.76%	5.77%
Colombia, Pesos | Maximum | Savings accounts
Disclosure of Customer Deposits [Line Items]
Borrowings, interest rate	6.00%	8.55%
Colombia, Pesos | Maximum | Fixed term deposit certificates
Disclosure of Customer Deposits [Line Items]
Borrowings, interest rate	9.05%	9.72%
Foreign currency | Minimum | Interest Bearing Checking Accounts
Disclosure of Customer Deposits [Line Items]
Borrowings, interest rate	0.25%	0.15%
Foreign currency | Minimum | Savings accounts
Disclosure of Customer Deposits [Line Items]
Borrowings, interest rate	0.05%	0.05%
Foreign currency | Minimum | Fixed term deposit certificates
Disclosure of Customer Deposits [Line Items]
Borrowings, interest rate	0.05%	0.01%
Foreign currency | Maximum | Interest Bearing Checking Accounts
Disclosure of Customer Deposits [Line Items]
Borrowings, interest rate	5.50%	1.50%
Foreign currency | Maximum | Savings accounts
Disclosure of Customer Deposits [Line Items]
Borrowings, interest rate	8.00%	8.00%
Foreign currency | Maximum | Fixed term deposit certificates
Disclosure of Customer Deposits [Line Items]
Borrowings, interest rate	11.45%	10.43%

CUSTOMER DEPOSITS - Concentrati

CUSTOMER DEPOSITS - Concentration of Deposits Received (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)		Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of Customer Deposits [Line Items]
Deposits from customers	$ 50,576	[1]	$ 164,359,451	$ 154,885,224	[2]
Concentrations of Deposits Percentage	100.00%		100.00%	100.00%
Individuals
Disclosure of Customer Deposits [Line Items]
Deposits from customers			$ 26,626,082	$ 23,362,871
Concentrations of Deposits Percentage	16.00%		16.00%	15.00%
Commerce
Disclosure of Customer Deposits [Line Items]
Deposits from customers			$ 27,454,858	$ 29,587,825
Concentrations of Deposits Percentage	17.00%		17.00%	19.00%
Government and Colombian Government Entities
Disclosure of Customer Deposits [Line Items]
Deposits from customers			$ 20,817,529	$ 17,443,318
Concentrations of Deposits Percentage	13.00%		13.00%	11.00%
Manufacturing
Disclosure of Customer Deposits [Line Items]
Deposits from customers			$ 8,634,657	$ 9,016,500
Concentrations of Deposits Percentage	5.00%		5.00%	6.00%
Real Estates
Disclosure of Customer Deposits [Line Items]
Deposits from customers			$ 6,235,260	$ 6,197,620
Concentrations of Deposits Percentage	4.00%		4.00%	4.00%
Colombian Municipalities
Disclosure of Customer Deposits [Line Items]
Deposits from customers			$ 1,807,946	$ 2,290,683
Concentrations of Deposits Percentage	1.00%		1.00%	1.00%
Agriculture and livestock
Disclosure of Customer Deposits [Line Items]
Deposits from customers			$ 2,200,313	$ 2,401,684
Concentrations of Deposits Percentage	1.00%		1.00%	2.00%
Foreign Governments
Disclosure of Customer Deposits [Line Items]
Deposits from customers			$ 652,670	$ 799,687
Concentrations of Deposits Percentage	1.00%		1.00%	1.00%
Other
Disclosure of Customer Deposits [Line Items]
Deposits from customers			$ 44,928,212	$ 38,482,412
Concentrations of Deposits Percentage	27.00%		27.00%	25.00%
Financial
Disclosure of Customer Deposits [Line Items]
Deposits from customers			$ 25,001,924	$ 25,302,624
Concentrations of Deposits Percentage	15.00%		15.00%	16.00%
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

CUSTOMER DEPOSITS - Textual (De

CUSTOMER DEPOSITS - Textual (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of Customer Deposits [Line Items]
Deposits from customers	$ 50,576		$ 164,359,451	$ 154,885,224	[2]
Deposits received			20,686,104	$ 17,869,572
Education sector
Disclosure of Customer Deposits [Line Items]
Deposits from customers			525,978
services sector
Disclosure of Customer Deposits [Line Items]
Deposits from customers			6,328,182
Tourism sector
Disclosure of Customer Deposits [Line Items]
Deposits from customers			9,084
others in the sector
Disclosure of Customer Deposits [Line Items]
Deposits from customers			$ 38,064,968
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

FINANCIAL OBLIGATIONS - Interba

FINANCIAL OBLIGATIONS - Interbank borrowings, overnight funds (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Interbank funds
Total interbank borrowings, overnight funds and borrowings from banks and others	$ 15,758.7		$ 51,211,990	$ 45,276,036	[2]
Local
Interbank funds
Overnight funds			4,152	1,464
Interbank funds purchased			173,274	336,431
Commitments to transfer open and closed repo operations			1,884,750	715,364
Commitments to transfer simultaneous operations			2,306,037	2,272,496
Commitments originated in short positions simultaneous operations			362,833	176,048
Total interbank funds			4,731,046	3,501,803
Borrowings			1,964,408	2,831,100
Letters of credit			300	485
Bankers Acceptances			217	17
Total borrowings from banks and others			1,964,925	2,831,602
Foreign
Interbank funds
Overnight funds				217
Interbank funds purchased			1,568,172	1,135,110
Commitments to transfer open and closed repo operations			514,860	333,300
Total interbank funds			2,083,032	1,468,627
Borrowings			17,190,315	14,529,524
Andean Development Corporation			384,758
Letters of credit			356,640	195,988
Bankers Acceptances			664,429	648,206
Discoveries in bank current account			49,699
Total borrowings from banks and others			18,645,841	15,373,718
Total interbank borrowings, overnight funds and borrowings from banks and others			$ 27,424,844	$ 23,175,750
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

FINANCIAL OBLIGATIONS - Borrowi

FINANCIAL OBLIGATIONS - Borrowings (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)		Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Other Borrowings	$ 1,122.2	[1]	$ 3,646,796	$ 2,998,090	[2]
BANCOLDEX
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Other Borrowings			$ 1,303,648	$ 835,667
BANCOLDEX | Minimum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Interest Rate	1.80%		1.80%	1.80%
BANCOLDEX | Maximum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Interest Rate	21.15%		21.15%	21.15%
BANCOLDEX | DFT | Minimum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	0.08%		0.08%	0.08%
BANCOLDEX | DFT | Maximum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	9.91%		9.91%	9.91%
BANCOLDEX | LIBOR 3 | Minimum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	1.80%		1.80%	1.80%
BANCOLDEX | LIBOR 3 | Maximum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	9.91%		9.91%	9.91%
BANCOLDEX | LIBOR 6 | Minimum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	2.87%		2.87%	2.87%
BANCOLDEX | LIBOR 6 | Maximum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	6.09%		6.09%	6.09%
BANCOLDEX | IBR | Minimum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	0.50%		0.50%	0.50%
BANCOLDEX | IBR | Maximum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	9.76%		9.76%	9.76%
FINAGRO
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Other Borrowings			$ 278,025	$ 342,728
FINAGRO | Minimum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Interest Rate	0.50%		0.50%	0.50%
FINAGRO | Maximum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Interest Rate	15.48%		15.48%	15.48%
FINAGRO | DFT | Minimum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	0.50%		0.50%	0.50%
FINAGRO | DTF | Maximum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	6.42%		6.42%	6.42%
FINDETER
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Other Borrowings			$ 2,065,123	$ 1,819,695
FINDETER | Minimum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Interest Rate	2.40%		2.40%	2.40%
FINDETER | Maximum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Interest Rate	13.38%		13.38%	13.38%
FINDETER | DFT | Minimum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	1.00%		1.00%	1.00%
FINDETER | DTF | Maximum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	7.57%		7.57%	7.57%
FINDETER | IPC | Minimum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	0.50%		0.50%	0.50%
FINDETER | IPC | Maximum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	7.57%		7.57%	7.57%
FINDETER | LIBOR 3 | Minimum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	5.20%		5.20%	5.20%
FINDETER | LIBOR 3 | Maximum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	5.30%		5.30%	5.30%
FINDETER | LIBOR 6
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	5.29%		5.29%	5.29%
FINDETER | IBR | Minimum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	2.50%		2.50%	2.50%
FINDETER | IBR | Maximum
Disclosure Of Detailed Information About Other Borrowings Explanatory [Line Items]
Borrowing rate interest rate basis	7.57%		7.57%	7.57%
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

FINANCIAL OBLIGATIONS - Liabili

FINANCIAL OBLIGATIONS - Liabilities maturity date (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)		Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Bonds issued	$ 6,197.5	[1]	$ 20,140,350	$ 19,102,196	[2]
Peso denominated
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Bonds issued			8,857,766	8,447,168
Foreign currency
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Bonds issued			11,282,584	10,655,028
BAC Credomatic
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Bonds issued			972,598	1,195,454
Banco de Bogota S.A.
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Issue Date	23/02/2010
Bonds issued			$ 134,736	$ 132,989
Maturity Date	23/02/2020
Banco de Bogota S.A. | UVR
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Borrowing rate interest rate basis	5.45%		5.45%
Banco de Bogota S.A. | CPI
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Borrowing rate interest rate basis	5.45%		5.45%	5.45%
Banco de Occidente S.A.
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Issue Date	Between 30/03/2009 and 14/12/2017
Bonds issued			$ 3,143,903	$ 3,271,929
Maturity Date	Between 09/02/2019 and 14/12/2032
Banco de Occidente S.A. | Minimum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Interest Rate	6.18%		6.18%	6.18%
Banco de Occidente S.A. | Maximum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Interest Rate	7.85%		7.85%
Banco de Occidente S.A. | IPC | Minimum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Borrowing rate interest rate basis	2.90%		2.90%
Banco de Occidente S.A. | IPC | Maximum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Borrowing rate interest rate basis	5.75%		5.75%
Corporacion Financiera Colombiana S.A.
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Issue Date	Between 27/08/2009 and 02/03/2018
Bonds issued			$ 2,853,685	$ 2,361,702
Maturity Date	Between 11/03/2019 and 02/03/2043
Interest Rate	7.10%		7.10%	7.10%
Corporacion Financiera Colombiana S.A. | CPI | Minimum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Borrowing rate interest rate basis	3.18%		3.18%
Corporacion Financiera Colombiana S.A. | CPI | Maximum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Borrowing rate interest rate basis	6.90%		6.90%
Banco Popular S.A.
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Issue Date	Between 26/02/2013 and 08/05/2018
Bonds issued			$ 1,616,729	$ 1,571,308
Maturity Date	Between 14/02/2019 and 12/10//2026
Banco Popular S.A. | Minimum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Interest Rate	6.17%		6.17%	6.17%
Banco Popular S.A. | Maximum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Interest Rate	8.10%		8.10%
Banco Popular S.A. | CPI | Minimum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Borrowing rate interest rate basis	2.72%		2.72%
Banco Popular S.A. | CPI | Maximum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Borrowing rate interest rate basis	4.13%		4.13%
Banco Popular S.A. | DTF
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Borrowing rate interest rate basis	1.49%		1.49%
Grupo Aval Acciones y Valores
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Issue Date	Between 03/12/2009 and 28/06/2017
Bonds issued			$ 1,108,713	$ 1,109,240
Maturity Date	Between 03/12/2019 and 28/06/2042
Grupo Aval Acciones y Valores | CPI | Minimum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Borrowing rate interest rate basis	2.69%		2.69%	2.69%
Grupo Aval Acciones y Valores | CPI | Maximum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Borrowing rate interest rate basis	5.20%		5.20%
Banco de Bogota S.A. Bajo regla144A | Foreign currency
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Issue Date	Between 19/02/2013 and 03/08 /2017
Bonds issued			$ 7,042,678	$ 6,459,452
Maturity Date	Between 19/02/2023 and 03/08/2027
Banco de Bogota S.A. Bajo regla144A | Foreign currency | Minimum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Interest Rate	4.38%		4.38%	4.38%
Banco de Bogota S.A. Bajo regla144A | Foreign currency | Maximum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Interest Rate	6.25%		6.25%
El Salvador | BAC Credomatic
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Issue Date	Between 11/02/2013 and 26/11/2018
Bonds issued			$ 753,556	$ 635,536
Maturity Date	Between 30/05/2019 and 26/11/2023
El Salvador | BAC Credomatic | Minimum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Interest Rate	5.20%		5.20%	5.20%
El Salvador | BAC Credomatic | Maximum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Interest Rate	5.85%		5.85%
Guatemala | BAC Credomatic
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Issue Date	Between 24/08/2017 and 24/08/2018
Bonds issued			$ 14,025	$ 400,244
Maturity Date	Between 07/01/2019 and 26/08/2019
Guatemala | BAC Credomatic | Minimum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Interest Rate	4.25%		4.25%	4.25%
Guatemala | BAC Credomatic | Maximum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Interest Rate	7.50%		7.50%
Honduras | BAC Credomatic
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Issue Date	Between 12/05/2017 and 19/12/2018
Bonds issued			$ 205,017	$ 159,674
Maturity Date	Between 12/05/2020 and 11/01/2022
Honduras | BAC Credomatic | Minimum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Interest Rate	0.75%		0.75%	0.75%
Honduras | BAC Credomatic | Maximum
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Interest Rate	8.88%		8.88%
Banco de Bogota S.A. and BAC Credomatic
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Bonds issued			$ 8,015,276	$ 7,654,906
Grupo Aval Limited
Disclosure Of Detailed Information About Borrowing Explanatory [Line Items]
Issue Date	19/09/2012
Bonds issued			$ 3,267,308	$ 3,000,122
Maturity Date	26/09/2022
Interest Rate	4.75%		4.75%	4.75%
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

FINANCIAL OBLIGATIONS - Textual

FINANCIAL OBLIGATIONS - Textual (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of Deposits From Financial Obligations [Abstract]
Amount of financial obligation	$ 7,219,765	$ 8,850,661
Short Term Obligations, Simultaneous and Repo Operations	2,306,037	2,272,496
Guaranteed with Investments	4,663,828	3,400,677
Amount of borrowings	3,203,170	2,790,581
Bond issued	$ 18,772,405	$ 18,118,282

EMPLOYEE BENEFITS - Liabilities

EMPLOYEE BENEFITS - Liabilities for employee benefits (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2018USD ($)	[2]	Dec. 31, 2018COP ($)
Disclosure of defined benefit plans [line items]
Net defined benefit liability		$ 1,238,172	[1]	$ 389.2		$ 1,264,881
Expenses for defined contributions	$ 4,297,647	4,027,850
Short-term Benefits
Disclosure of defined benefit plans [line items]
Net defined benefit liability		404,292				481,320
Post-Employment benefits
Disclosure of defined benefit plans [line items]
Net defined benefit liability		604,110				541,226
Long-Term Benefits
Disclosure of defined benefit plans [line items]
Net defined benefit liability		$ 229,770				$ 242,335
[1]	See note 2.32, Changes in presentation.
[2]	See note 2.4, “convenience translation into U.S. dollars”.

EMPLOYEE BENEFITS - Post-employ

EMPLOYEE BENEFITS - Post-employment and long-term benefits movements (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)	Dec. 31, 2016COP ($)
Disclosure of net defined benefit liability (asset) [line items]
Changes in actuarial assumptions from changes in demographic assumptions.	$ (5.5)		$ (18,013)	$ 100,232	$ 41,228
Post-Employment benefits
Disclosure of net defined benefit liability (asset) [line items]
Balance at the beginning of the year			604,110	509,022	436,696
Service costs			13,127	4,425	3,006
Interests cost			36,700	50,826	69,348
Gain on settlements			(18,300)	253
Past Service Costs			(191)	200
Net defined benefit liability asset After Adjustment			635,446	564,726	509,050
Changes in actuarial assumptions from changes in demographic assumptions.			6,136	(8,863)	(1,232)
Changes in actuarial assumptions from changes in financial assumptions.			(24,149)	109,095	42,460
Gain (loss) on remeasurement, net defined benefit liability (asset)			(18,013)	100,232	41,228
Exchange differences			3,502	(982)	6,081
Payments to employees			(79,709)	(59,866)	(47,337)
Balance at the end of the year			541,226	604,110	509,022
Long-Term Benefits
Disclosure of net defined benefit liability (asset) [line items]
Balance at the beginning of the year			229,770	191,112	206,971
Service costs			21,040	18,201	19,243
Interests cost			13,460	12,889	(20,274)
Gain on settlements				(112)
Past Service Costs			1,632	(3,961)
Net defined benefit liability asset After Adjustment			265,902	218,129	205,940
Changes in actuarial assumptions from changes in demographic assumptions.			388	(1,432)	(6,456)
Changes in actuarial assumptions from changes in financial assumptions.			11,831	43,870	18,845
Gain (loss) on remeasurement, net defined benefit liability (asset)			12,219	42,438	12,389
Payments to employees			(35,786)	(30,797)	(27,217)
Balance at the end of the year			$ 242,335	$ 229,770	$ 191,112
[1]	See note 2.4, “convenience translation into U.S. dollars”.

EMPLOYEE BENEFITS - Assumptions

EMPLOYEE BENEFITS - Assumptions (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Post-Employment benefits
Disclosure Of Defined Benefit Plan Explanatory [Line Items]
Discount interest rate	7.29%	6.59%
Inflation rate	3.00%	3.50%
Salary growth rate	3.00%	3.50%
Pension growth rate	3.00%	3.50%
Description on actuarial assumption of employee turnover rate	Tabla de Rotación SoA 2003	Tabla de Rotación
Long-Term Benefits
Disclosure Of Defined Benefit Plan Explanatory [Line Items]
Discount interest rate	6.75%	6.33%
Inflation rate	3.00%	3.50%
Salary growth rate	3.00%	3.50%
Description on actuarial assumption of employee turnover rate	Tabla de Rotación SoA 2003	Tabla de Rotación SoA 2003

EMPLOYEE BENEFITS - Sensitivity

EMPLOYEE BENEFITS - Sensitivity analysis (Details) $ in Millions	Dec. 31, 2018COP ($)
Actuarial assumption of discount rates | Post-Employment benefits
Disclosure Of Defined Benefit Plan Explanatory [Line Items]
Decrease	$ 559,740
Increase	521,812
Actuarial assumption of discount rates | Long-Term Benefits
Disclosure Of Defined Benefit Plan Explanatory [Line Items]
Decrease	247,726
Increase	235,544
Actuarial assumption of expected rates of salary increases | Post-Employment benefits
Disclosure Of Defined Benefit Plan Explanatory [Line Items]
Decrease	125,140
Increase	136,794
Actuarial assumption of expected rates of salary increases | Long-Term Benefits
Disclosure Of Defined Benefit Plan Explanatory [Line Items]
Decrease	234,266
Increase	249,020
Actuarial assumption of expected rates of pension increases | Post-Employment benefits
Disclosure Of Defined Benefit Plan Explanatory [Line Items]
Decrease	392,518
Increase	$ 427,272

EMPLOYEE BENEFITS - Future bene

EMPLOYEE BENEFITS - Future benefit payments (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018COP ($)
Post-Employment benefits | Not later than one year [member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	$ 65,720
Post-Employment benefits | Later than one year and not later than two years [member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	56,847
Post-Employment benefits | Later than two years and not later than three years [member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	57,615
Post-Employment benefits | Later than three years and not later than four years [member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	56,990
Post-Employment benefits | Later than four years and not later than five years [member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	54,812
Post-Employment benefits | Later than five years [member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	255,125
Long-Term Benefits | Not later than one year [member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	39,104
Long-Term Benefits | Later than one year and not later than two years [member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	37,042
Long-Term Benefits | Later than two years and not later than three years [member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	32,194
Long-Term Benefits | Later than three years and not later than four years [member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	33,102
Long-Term Benefits | Later than four years and not later than five years [member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	31,944
Long-Term Benefits | Later than five years [member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	$ 159,380

EMPLOYEE BENEFITS - Textual (De

EMPLOYEE BENEFITS - Textual (Details)	Dec. 31, 2018
Disclosure of defined benefit plans [line items]
Percentage of reasonably possible increase and decrease in actuarial assumption	0.50%
Post-Employment benefits
Disclosure of defined benefit plans [line items]
Number of employees	47,386
Long-Term Benefits
Disclosure of defined benefit plans [line items]
Number of employees	32,125

LEGAL AND OTHER PROVISIONS - Ro

LEGAL AND OTHER PROVISIONS - Roll-forward of legal provisions (Details) $ in Millions, $ in Millions	Jan. 01, 2018COP ($)		Dec. 31, 2018USD ($)	[2]	Dec. 31, 2018COP ($)		Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of provisions for legal and others
Beginning Balance	$ 692,615	[1]			$ 692,615	[1]	$ 620,356		$ 600,227
Impact of the adoption of IFRS 9	16,217
Provisions increase during the period					289,159		255,019		395,616
Use of provisions					(222,112)		(132,655)		(332,735)
Amounts reversed due to provisions not utilized					(84,414)		(50,329)		(43,187)
Reclassification									435
Exchange differences					3,823		224
Ending Balance	708,832		$ 214		695,288		692,615	[1]	620,356
For Legal
Disclosure of provisions for legal and others
Beginning Balance	165,353				165,353		155,749		148,314
Provisions increase during the period					98,473		32,670		32,405
Use of provisions					(73,086)		(15,012)		(13,143)
Amounts reversed due to provisions not utilized					(64,562)		(7,870)		(12,938)
Reclassification									1,111
Exchange differences					(249)		(184)
Ending Balance	165,353				125,929		165,353		155,749
Other provisions
Disclosure of provisions for legal and others
Beginning Balance	527,262				527,262		464,607		451,913
Impact of the adoption of IFRS 9	16,217
Provisions increase during the period					190,686		222,349		363,211
Use of provisions					(149,026)		(117,643)		(319,592)
Amounts reversed due to provisions not utilized					(19,852)		(42,459)		(30,249)
Reclassification									(676)
Exchange differences					4,072		408
Ending Balance	$ 543,479				$ 569,359		$ 527,262		$ 464,607
[1]	See note 2.32, Changes in presentation.
[2]	See note 2.4, “convenience translation into U.S. dollars”.

LEGAL AND OTHER PROVISIONS - Le

LEGAL AND OTHER PROVISIONS - Legal provisions (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)bbl		Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of provisions for legal and others
Legal proceedings provision	$ 38.8	[1]	$ 125,929	$ 165,353	[2]
Other provisions	$ 175.2	[1]	569,359	527,262	[2]
Area of land under litigation | bbl	37,018
Other provisions
Disclosure of provisions for legal and others
Legal proceedings provision			72,015	50,042
Other provisions			569,359	527,262
Other provisions | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A.
Disclosure of provisions for legal and others
Legal proceedings provision			20,937	20,449
Other provisions			206,786	175,000
Other provisions | Corporacion Financiera Colombiana S.A.
Disclosure of provisions for legal and others
Other provisions			242,446	229,447
Other provisions | Gecelca
Disclosure of provisions for legal and others
Legal proceedings provision			9,870
Other provisions | Compania Hotelera Cartagena de Indias
Disclosure of provisions for legal and others
Other provisions			24,815	24,815
Provision for decommissioning, restoration and rehabilitation costs
Disclosure of provisions for legal and others
Other provisions			46,868	50,541
Provision for credit commitments
Disclosure of provisions for legal and others
Other provisions			59,428	26,675
Administrative and other proceedings
Disclosure of provisions for legal and others
Provisions for administrative and other proceedings attributable to contracts			12,296	68,526
Labor proceedings
Disclosure of provisions for legal and others
Provision for labour proceedings attributable to pension plans			$ 41,618	$ 46,785
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
OTHER LIABILITIES
Suppliers and services payable			$ 1,846,831	$ 1,818,103
Collection on behalf of third parties			1,514,309	272,206
Cashier checks			690,195	697,575
Contract liability related to concessions			535,960
Dividends payable			535,311	590,040
Non-financial liabilities			478,833	151,414
Income received for third parties			453,450	140,165
Commissions and fees			430,279	399,155
Withholdings taxes and labor contributions			427,782	456,411
Affiliate establishments			335,078	248,064
Collection service			314,785	285,017
Cash surplus			167,309	9,272
Customer loyalty programs			154,979	185,238
Tax levies			71,691	73,696
Checks drawn and not paid			48,864	39,624
Insurance payables			48,505	32,410
Financial transactions tax			45,905	37,042
Anticipated income			34,605	23,392
Contributions and affiliations			28,785	23,173
Canceled accounts			26,987	81,841
Promissory buyers			18,371	24,049
Leases			7,347	10,912
Compensation to customers			3,191	778
Deferred credits			938	1,012
Other liabilities			787,663	634,877
Total	$ 2,771.9		$ 9,007,953	$ 6,235,466	[2]
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

EQUITY ATTRIBUTABLE TO OWNERS_3

EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Authorized, issued and outstanding (Details) - shares	Mar. 29, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of controlling interest equity [Line Items]
Authorized shares		120,000,000,000	120,000,000,000
Subscribed fully paid shares		22,281,017,159	22,281,017,159
Subscribed but pending to be paid shares Total outstanding shares		22,281,017,159	22,281,017,159
Number of shares outstanding	22,281,017,159	22,281,017,159	22,281,017,159	22,281,017,159
Common voting shares [Member]
Disclosure of controlling interest equity [Line Items]
Number of shares outstanding		15,164,816,696	15,173,180,765
Preferred non-voting shares [Member]
Disclosure of controlling interest equity [Line Items]
Number of shares outstanding		7,116,200,463	7,107,836,394

EQUITY ATTRIBUTABLE TO OWNERS_4

EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Appropriated retained earnings (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of controlling interest equity [Abstract]
Retained earnings			$ 2,321,729	$ 1,829,515
Legal reserve			11,140	11,140
Statutory and voluntary reserves			6,265,450	5,333,763
Retained earnings	$ 2,645.8		$ 8,598,319	$ 7,174,418	[2]
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

EQUITY ATTRIBUTABLE TO OWNERS_5

EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Declared Dividends (Details) $ / shares in Units, $ in Millions	Mar. 29, 2019COP ($)installment$ / sharesshares	Dec. 31, 2018COP ($)installment$ / sharesshares	Dec. 31, 2017COP ($)installment$ / sharesshares	Dec. 31, 2016COP ($)installment$ / sharesshares
Disclosure of controlling interest equity [Line Items]
Net income for the periods ended in | $	$ 2,887,749	$ 2,001,178	$ 1,053,594	$ 1,258,835
Cash dividends declared information		In the general assembly held in March 2018, 48.00 pesos per share payable in twelve installments of 4.00 pesos per share, from April 2018 to March 2019.	In the general assembly held in March 2017, 58.80 pesos per share payable in twelve installments of 4.90 pesos per share, from April 2017 to March 2018.	29.40 per share payable in six (6) installments of P.s. 4.90 per share between October 2016 and March 2017 (based on profits from the first half of 2016)
Cash dividends declared | $ / shares	$ 60	$ 48	$ 58.80	$ 29.40
Number of installments dividends payable | installment	12	12	12	6
Cash dividend declared, per installment | $ / shares	$ 5	$ 4	$ 4.90	$ 4.90
Number of shares outstanding	22,281,017,159	22,281,017,159	22,281,017,159	22,281,017,159
Total dividends declared | $	$ 1,336,861	$ 1,069,489	$ 1,310,124	$ 655,062
Common shares
Disclosure of controlling interest equity [Line Items]
Number of shares outstanding		15,170,666,914	15,240,124,702	15,258,916,143
Preference shares
Disclosure of controlling interest equity [Line Items]
Number of shares outstanding		7,110,350,245	7,040,892,457	7,022,101,016

EQUITY ATTRIBUTABLE TO OWNERS_6

EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Net income per share (Details) $ / shares in Units, $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)shares		Dec. 31, 2018COP ($)$ / sharesshares	Dec. 31, 2017COP ($)$ / sharesshares		Dec. 31, 2016COP ($)$ / sharesshares
Disclosure of controlling interest equity [Line Items]
Net income for the year	$ 1,595.4	[1]	$ 5,184,551	$ 3,162,433	[2]	$ 3,516,936	[2]
Less: participation of non- controlling interests	(699.1)	[1]	(2,271,857)	(1,200,019)	[2]	(1,377,070)	[2]
Net income attributable to owners of the parents	$ 896.3	[1]	2,912,694	1,962,414	[2]	2,139,866	[2]
Less: Allocation of undistributed earnings to preferred stockholders | $			(929,656)	(622,215)		(674,042)
Net Income allocated to common shareholders for basic and diluted EPS | $			$ 1,983,038	$ 1,340,199		$ 1,465,824
Weighted average of the common and preferred shares used in the calculation of net income for basic shares (common and preferential) | shares	22,281,017,159		22,281,017,159	22,281,017,159		22,281,017,159
Basic net income of the owners of the parent per share			$ 130.725	$ 88.076	[2]	$ 96.040	[2]
Common shares
Disclosure of controlling interest equity [Line Items]
Weighted average number of common shares outstanding used in basic EPS calculation (2) | shares	15,169,502,784		15,169,502,784	15,216,468,601		15,262,660,115
Basic and diluted earnings (loss) per share			$ 130.725	$ 88.076		$ 96.040
American depositary Shares [Member]
Disclosure of controlling interest equity [Line Items]
Basic and diluted earnings (loss) per share			$ 2,614.51	$ 1,761.51		$ 1,920.80
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

EQUITY ATTRIBUTABLE TO OWNERS_7

EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Consolidated Comprehensive Income (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[2]	Dec. 31, 2018COP ($)		Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of analysis of other comprehensive income by item [line items]
Balance			$ 25,871,227	[1]	$ 24,659,222		$ 22,906,280
Balance	$ 9,094.3		29,554,348		25,871,227	[1]	24,659,222
Accumulated other comprehensive income including non-controlling interests
Disclosure of analysis of other comprehensive income by item [line items]
Balance			1,354,510		1,279,140		976,933
Change in politics			104,013
Current period change					75,370		302,207
Current period change, excluding change in politics			(209,751)
Balance			1,248,772		1,354,510		1,279,140
AOCI related to foreign currency translation differences from hedged foreign operations
Disclosure of analysis of other comprehensive income by item [line items]
Balance			3,211,272		3,258,469		3,733,469
Current period change					(47,197)		(475,000)
Current period change, excluding change in politics			1,124,732
Balance			4,336,004		3,211,272		3,258,469
Hedging derivative instrument
Disclosure of analysis of other comprehensive income by item [line items]
Balance			(2,245,919)		(2,262,751)		(2,554,257)
Current period change					16,832		291,506
Current period change, excluding change in politics			(547,310)
Balance			(2,793,229)		(2,245,919)		(2,262,751)
Hedging non derivative instrument
Disclosure of analysis of other comprehensive income by item [line items]
Balance			(1,172,677)		(1,203,245)		(1,239,064)
Current period change					30,568		35,819
Current period change, excluding change in politics			(576,881)
Balance			(1,749,558)		(1,172,677)		(1,203,245)
AOCI related to cash flow hedges
Disclosure of analysis of other comprehensive income by item [line items]
Balance			5,446		7,786		(10,181)
Current period change					(2,340)		17,967
Current period change, excluding change in politics			(19,789)
Balance			(14,343)		5,446		7,786
AOCI related to foreign currency translation differences from unhedged foreign operations
Disclosure of analysis of other comprehensive income by item [line items]
Balance			(166,408)		(74,911)		50,250
Current period change					(91,497)		(125,161)
Current period change, excluding change in politics			(299,804)
Balance			(466,212)		(166,408)		(74,911)
AOCI related to debt securities
Disclosure of analysis of other comprehensive income by item [line items]
Balance			12,264		(272,216)		(1,220,428)
Change in politics			56,198
Current period change					284,480		948,212
Current period change, excluding change in politics			(107,084)
Balance			(38,622)		12,264		(272,216)
AOCI related to equity securities
Disclosure of analysis of other comprehensive income by item [line items]
Balance			547,129		489,884		455,375
Change in politics			71,229
Current period change					57,245		34,509
Current period change, excluding change in politics			(134,084)
Balance			484,274		547,129		489,884
Investments in associates and joint ventures
Disclosure of analysis of other comprehensive income by item [line items]
Balance			92,637		91,509		111,570
Change in politics			(3,691)
Current period change					1,128		(20,061)
Current period change, excluding change in politics			22,400
Balance			111,346		92,637		91,509
Actuarial Gains Losses From Defined Benefit Pension Plan
Disclosure of analysis of other comprehensive income by item [line items]
Balance			(132,457)		(32,225)		9,003
Current period change					(100,232)		(41,228)
Current period change, excluding change in politics			18,013
Balance			(114,444)		(132,457)		(32,225)
Income tax relating to OCI
Disclosure of analysis of other comprehensive income by item [line items]
Balance			1,203,223		1,276,840		1,641,196
Change in politics			(19,723)
Current period change					(73,617)		(364,356)
Current period change, excluding change in politics			310,056
Balance			$ 1,493,556		$ 1,203,223		$ 1,276,840
[1]	See note 2.32, Changes in presentation.
[2]	See note 2.4, “convenience translation into U.S. dollars”.

EQUITY ATTRIBUTABLE TO OWNERS_8

EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Consolidated comprehensive income summary (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[2]	Dec. 31, 2018COP ($)		Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of analysis of other comprehensive income by item [line items]
Balance			$ 25,871,227	[1]	$ 24,659,222		$ 22,906,280
Balance	$ 9,094.3		29,554,348		25,871,227	[1]	24,659,222
Accumulated other comprehensive income including non-controlling interests
Disclosure of analysis of other comprehensive income by item [line items]
Balance			1,354,510		1,279,140		976,933
Change in politics			104,013
Current period change					75,370		302,207
Current period change, excluding change in politics			(209,751)
Balance			1,248,772		1,354,510		1,279,140
Accumulated other comprehensive income attributable to non-controlling interests
Disclosure of analysis of other comprehensive income by item [line items]
Balance			567,644		529,523		438,804
Change in politics			58,180
Current period change					38,121		90,719
Current period change, excluding change in politics			(73,825)
Balance			551,999		567,644		529,523
Other comprehensive income (OCI)
Disclosure of analysis of other comprehensive income by item [line items]
Balance			786,866		749,617		538,129
Change in politics			45,833
Current period change					37,249		211,488
Current period change, excluding change in politics			(135,926)
Balance	$ 214.4		$ 696,773		$ 786,866		$ 749,617
[1]	See note 2.32, Changes in presentation.
[2]	See note 2.4, “convenience translation into U.S. dollars”.

EQUITY ATTRIBUTABLE TO OWNERS_9

EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Textual (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of controlling interest equity [Line Items]
Nominal value per share	$ 1
Legal reserve as percentage of net profit	10.00%
Maximum legal reserve as percentage of subscription capital stock	50.00%
Common stock conversion to Preferred Stock	8,364,069	81,696,058
Description of preferential rights of preferred shareholders	Preferred shares have the right to receive a preferential minimum dividend of one Colombian peso (Ps. 1) per semester per share. This preferential minimum dividend is only applicable when dividends declared for common shares are less than one Colombian peso (Ps. 1). Preferential minimum dividends are not cumulative.
Description of creation of reserve through appropriation	create a legal reserve through the appropriation of ten percent (10%) of the net profits of each year up to an amount equal to fifty percent (50%) of the subscribed capital stock. This reserve may be reduced below fifty percent (50%) of the subscribed capital stock to stem losses in excess of retained earnings. The legal reserve cannot be less than the percentage aforementioned except to cover losses in excess of retained earnings.
Number of preferred shares per ADS	20	20	20
Preference shares
Disclosure of controlling interest equity [Line Items]
Preferential minimum dividend per semester per share	$ 1

NON- CONTROLLING INTEREST - Fin

NON- CONTROLLING INTEREST - Financial Information (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)		Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)		Dec. 31, 2018COP ($)
Disclosure of non-controlling interest [Line Items]
Non-controlling Interest share of equity	$ 3,620.2	[1]		$ 9,584,231	[2]			$ 11,764,639
Non-controlling interest share of net income	699.1	[1]	$ 2,271,857	1,200,019	[2]	$ 1,377,070	[2]
Dividends paid to non-controlling interest	$ (229.5)	[1]	$ (745,932)	$ (768,769)	[3]	$ (743,909)	[3]
Corporacion Financiera Colombiana S.A.
Disclosure of non-controlling interest [Line Items]
Country	Colombia		Colombia	Colombia
Non-contolling Interest	61.75%		61.75%	55.21%
Non-controlling Interest share of equity				$ 3,448,932				5,071,562
Non-controlling interest share of net income			$ 1,222,634	462,137
Dividends paid to non-controlling interest			$ (308,254)	$ (340,402)
Banco de Bogota S.A.
Disclosure of non-controlling interest [Line Items]
Country	Colombia		Colombia	Colombia
Non-contolling Interest	31.26%		31.26%	31.26%
Non-controlling Interest share of equity				$ 5,395,664				5,851,536
Non-controlling interest share of net income			$ 858,253	619,515
Dividends paid to non-controlling interest			$ (332,297)	$ (322,985)
Banco de Occidente S.A.
Disclosure of non-controlling interest [Line Items]
Country	Colombia		Colombia	Colombia
Non-contolling Interest	27.73%		27.73%	27.73%
Non-controlling Interest share of equity				$ 256,858				305,790
Non-controlling interest share of net income			$ 110,321	65,941
Dividends paid to non-controlling interest			$ (75,838)	$ (84,339)
Banco Comercial AV Villas S.A.
Disclosure of non-controlling interest [Line Items]
Country	Colombia		Colombia	Colombia
Non-contolling Interest	20.13%		20.13%	20.13%
Non-controlling Interest share of equity				$ 298,651				324,151
Non-controlling interest share of net income			$ 43,896	27,263
Dividends paid to non-controlling interest			$ (15,425)	$ (14,353)
Banco Popular S.A.
Disclosure of non-controlling interest [Line Items]
Country	Colombia		Colombia	Colombia
Non-contolling Interest	6.26%		6.26%	6.26%
Non-controlling Interest share of equity				$ 184,126				$ 211,600
Non-controlling interest share of net income			$ 36,753	25,163
Dividends paid to non-controlling interest			$ (14,118)	$ (6,690)
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.
[3]	See note 2.5 “Changes in accounting policies”.

NON- CONTROLLING INTEREST - Dil

NON- CONTROLLING INTEREST - Dilution Effect (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018COP ($)
Disclosure of non-controlling interest [Line Items]
Value issuance of shares	$ 988,072	[1]
Equity attributable to owners of parent
Disclosure of non-controlling interest [Line Items]
Effect of dilution over Corficolombiana change	6.54%
Effect equity - Additional paid - in capital	$ 181,579
Non-controlling interest
Disclosure of non-controlling interest [Line Items]
Effect of dilution over Corficolombiana change	6.54%
Effect equity - Additional paid - in capital	$ (181,579)
Value issuance of shares	$ 988,072	[1]
[1]	See note 1, “Reporting entity”.

NON- CONTROLLING INTEREST - Non

NON- CONTROLLING INTEREST - Non- Controlling Interests (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)		Dec. 31, 2018COP ($)
Disclosure of non-controlling interest [Line Items]
Assets	$ 79,906.2			$ 236,538,540	[2]			$ 259,675,153
Liabilities	70,811.8			210,667,313	[2]			230,120,805
Revenue			$ 34,083,225	31,659,852		$ 31,662,566
Profit (loss)	1,595.4		5,184,551	3,162,433	[2]	3,516,936	[2]
Comprehensive income	1,530.8		4,974,800	3,237,803		3,819,143
Cash flows from (used in) operating activities	$ 2,686.8		8,731,562	5,108,316	[3]	$ 2,485,034	[3]
Corporacion Financiera Colombiana S.A.
Disclosure of non-controlling interest [Line Items]
Assets				21,114,998				26,240,636
Liabilities				15,872,265				18,121,948
Revenue			9,159,971	6,891,345
Profit (loss)			2,068,518	563,553
Comprehensive income			505,807	615,754
Cash flows from (used in) operating activities			4,597,371	3,428,076
Banco de Bogota S.A.
Disclosure of non-controlling interest [Line Items]
Assets				149,389,135				163,302,510
Liabilities				131,197,065				143,634,735
Revenue			17,725,706	16,635,250
Profit (loss)			3,131,213	2,132,951
Comprehensive income			853,134	880,565
Cash flows from (used in) operating activities			2,868,435	1,571,203
Banco de Occidente S.A.
Disclosure of non-controlling interest [Line Items]
Assets				37,746,874				38,921,610
Liabilities				33,342,596				34,415,453
Revenue			4,040,260	4,338,753
Profit (loss)			416,294	377,687
Comprehensive income			29,097	187,037
Cash flows from (used in) operating activities			339,411	797,598
Banco Comercial AV Villas S.A.
Disclosure of non-controlling interest [Line Items]
Assets				12,318,124				14,207,481
Liabilities				10,853,638				12,587,301
Revenue			1,724,332	1,645,948
Profit (loss)			216,468	137,695
Comprehensive income			38,065	788
Cash flows from (used in) operating activities			858,440	(1,295,251)
Banco Popular S.A.
Disclosure of non-controlling interest [Line Items]
Assets				22,322,103				24,648,668
Liabilities				19,651,056				$ 21,757,734
Revenue			2,666,731	2,564,532
Profit (loss)			354,961	205,694
Comprehensive income			(7,631)	153,208
Cash flows from (used in) operating activities			$ 1,106,042	$ 756,955
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.
[3]	See note 2.5 “Changes in accounting policies”.

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Operating Leasing (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	$ 1,636,550	$ 1,006,169
Not later than one year [member]
Disclosure Of Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	234,510	246,373
Later than one year and not later than five years [member]
Disclosure Of Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	778,015	526,557
Later than five years [member]
Disclosure Of Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	$ 624,025	$ 233,239

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Textual (Details) $ in Millions	Feb. 08, 2019COP ($)	Dec. 06, 2018COP ($)	Sep. 13, 2018item	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure Of Commitments And Contingencies [Line Items]
Capital commitments				$ 127,367	$ 110,681
Maximum amount of eventual penalty				219,957
Number of legal charges | item			2
Amount litigation settlement		$ 800,156
Debarment defendants		10 years
Settlement amount	$ 715,656
Loss Contingency, maximum impact				$ 273,720
Estudios y Proyectos del Sol S.A.S.
Disclosure Of Commitments And Contingencies [Line Items]
Proportion of voting rights held in subsidiary				100.00%
Proportion of participation interest in subsidiary				33.00%
Labor proceedings
Disclosure Of Commitments And Contingencies [Line Items]
Legal Proceedings				$ 80,113	105,748
Civil proceedings
Disclosure Of Commitments And Contingencies [Line Items]
Legal Proceedings				391,310	453,592
Administrative and other proceedings
Disclosure Of Commitments And Contingencies [Line Items]
Provisions for administrative and other proceedings				$ 241,092	$ 81,117

INCOME FROM CONTRACTS WITH CU_3

INCOME FROM CONTRACTS WITH CUSTOMERS - Income and Expenses (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Income From Contract With Customers [Abstract]
Commissions on banking services			$ 2,718,482	$ 2,567,704		$ 2,436,692
Fees on credit cards			1,187,716	1,112,319		1,034,763
Pension and severance fund management			987,323	926,771		824,089
Trust activities			312,901	311,837		275,719
Storage services			156,638	169,815		186,068
Commissions on drafts, checks and checkbooks			49,645	60,768		67,832
Office network services			30,220	42,639		43,508
Other commissions			10,457	10,272		10,516
Total	$ 1,678.1		5,453,382	5,202,125	[2]	4,879,187	[2]
Banking Services			(307,191)	(332,811)		(318,672)
Sales and Services Commissions			(171,680)	(119,987)		(99,659)
Affiliations to Pension Funds			(75,130)	(74,531)		(68,454)
Offices Network Services			(23,040)	(29,874)		(33,404)
Information Processing Services of Operators			(22,525)	(23,039)		(20,963)
Collection Service of Contributions to Financial Entities			(7,110)	(5,618)		(6,084)
Fiduciary Businesses			(128)	(88)		(87)
Banks Guarantees			(46)	(41)		(256)
Credit Cards			(12)	(2)		(14)
Other			(6,901)	(37,123)		(71,935)
Total	(188.9)		(613,763)	(623,114)	[2]	(619,528)	[2]
Net commission and fee income	$ 1,489.2		$ 4,839,619	$ 4,579,011	[2]	$ 4,259,659	[2]
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

INCOME FROM CONTRACTS WITH CU_4

INCOME FROM CONTRACTS WITH CUSTOMERS - Income and Cost for Goods and Services (Details) $ in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Income From Contract With Customers [Abstract]
Income from goods and services from non-financial sector				$ 7,943,420	$ 5,656,472		$ 6,534,933
Others operating income				182,594	136,378		119,690
Total Income		$ 2,500.5		8,126,014	5,792,850	[2]	6,654,623	[2]
Cost of sales				(3,812,993)	(3,408,808)		(4,283,588)
Allowance for impairment of loans and receivables				(21,829)	(22,239)		(2,007)
General and administrative expenses				(645,690)	(668,616)		(635,930)
Personnel expenses				(499,750)	(481,892)		(434,145)
Amortization				(317,035)	(300,325)		(223,929)
Depreciation				(100,388)	(79,981)		(83,991)
Bonus payments				(34,503)	(34,436)		(27,555)
Commissions and fees expenses				(32,876)	(24,361)		(19,384)
Donations expenses				(14,320)	(12,604)		(12,081)
Labor severances				(2,718)	(2,565)		(2,718)
Total costs for goods and services		(1,686.9)		(5,482,102)	(5,035,827)	[2]	(5,725,328)	[2]
Net income from sales goods and services	[2]	$ 813.6		$ 2,643,912	$ 757,023		$ 929,295
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

NET TRADING INCOME (Details)

NET TRADING INCOME (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure Of Net Trading Income [Line Items]
Net trading income	$ 179.3		$ 582,709	$ 561,362	[2]	$ 724,698	[2]
Trading securities [member]
Disclosure Of Net Trading Income [Line Items]
Fixed income securities			98,024	218,994		369,184
Equities			57,477	177,448		127,431
Net trading income			155,501	396,442		496,615
Derivatives
Disclosure Of Net Trading Income [Line Items]
Net trading income			427,208	164,920		228,083
Net income (loss) on financial derivatives			247,880	(75,224)		10,593
Other trading income			$ 179,328	$ 240,144		$ 217,490
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

OTHER INCOME AND EXPENSE (Detai

OTHER INCOME AND EXPENSE (Details) $ in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2018USD ($)	[2]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of Other income and expense [Line Items]
Foreign exchange gains (losses), net				$ 283,440	$ 424,483		$ 517,902
Share of profit of equity accounted investees, net of tax				197,715	171,964		140,765
Dividends				71,487	50,439		28,027
Gain on the sale of non-current assets held for sale				20,062	13,568		28,392
Net gain on sale of debt and equity securities				1,104	51,712		210,373
Gain on sale of assets				390,472	10,581		21,148
Other income				394,401	428,998		729,499
Total	[1]	$ (418.1)		(1,358,681)	(1,151,745)		(1,676,106)
Personnel expenses				(3,877,584)	(3,671,117)		(3,531,087)
Taxes and fees				(757,936)	(731,316)		(633,260)
Depreciation and amortization				(539,751)	(521,408)		(471,608)
Consultancy, audit and other fees				(569,276)	(460,978)		(355,590)
Affiliation contributions and transfers				(511,811)	(429,825)		(428,581)
Wealth tax					(101,988)		(267,627)
Leases (Rent)				(476,590)	(431,507)		(440,777)
Maintenance and repairs				(378,433)	(392,271)		(317,170)
Insurance				(375,611)	(351,745)		(316,852)
Marketing				(327,539)	(314,657)		(344,423)
Warehouse services				(270,223)	(277,849)		(288,491)
Transportation services				(181,687)	(166,429)		(160,002)
Impairment losses other assets				(166,300)	(174,255)		(47,537)
Outsourcing services expenses				(128,495)	(128,656)		(184,330)
Cleaning and security services				(126,822)	(131,451)		(138,693)
Supplies and stationary				(85,128)	(82,113)		(23,722)
Data processing				(81,426)	(73,872)		(81,682)
Adaptation and installation				(55,815)	(62,809)		(67,938)
Travel expenses				(52,584)	(48,193)		(54,275)
Other				(408,022)	(450,652)		(413,664)
Total		$ (2,883.6)		(9,371,033)	(9,003,091)	[1]	(8,567,309)	[1]
Banco de Bogota S.A.
Disclosure of Other income and expense [Line Items]
Dividends				4,855	1,321		1,779
Gain on sale of assets				312,316
Depreciation and amortization				(363,264)	(361,621)		(352,618)
Banco Popular S.A.
Disclosure of Other income and expense [Line Items]
Dividends				2,314	1,991		3,112
Gain on sale of assets				60,474
Depreciation and amortization				$ (50,819)	$ (45,417)		$ (40,449)
[1]	See note 2.32, Changes in presentation.
[2]	See note 2.4, “convenience translation into U.S. dollars”.

OTHER INCOME AND EXPENSE - Text

OTHER INCOME AND EXPENSE - Textual (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Minimum
Disclosure of Other income and expense [Line Items]
Wealth tax rate	0.05%	0.15%	0.20%
Maximum
Disclosure of Other income and expense [Line Items]
Wealth tax rate	0.40%	1.00%	1.15%

ANALYSIS OF OPERATING SEGMENT_2

ANALYSIS OF OPERATING SEGMENTS - Statement of financial position (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Assets
Trading assets	$ 2,216.9		$ 7,204,312	$ 5,128,088	[2]
Investment securities	7,086.7		23,030,159	21,513,199	[2]
Hedging derivatives assets	9.3		30,138	55,261	[2]
Investments in associates and joint ventures	302.4		982,743	1,043,014	[2]
Loans and receivables	51,907.3		168,685,654	160,754,295	[2]
Other Assets			59,742,147	48,044,683
Total Assets	79,906.2		259,675,153	236,538,540	[2]
Liabilities
Customer Deposits	50,576		164,359,451	154,885,224	[2]
Financial Obligations	15,758.7		51,211,990	45,276,036	[2]
Other Liabilities			14,549,364	10,506,053
Total Liabilities	$ 70,811.8		230,120,805	210,667,313	[2]
Banco de Bogota S.A.
Assets
Trading assets			3,086,060	2,590,371
Investment securities			11,238,754	11,316,584
Hedging derivatives assets			32,981	51,376
Investments in associates and joint ventures			4,157,015	3,417,702
Loans and receivables			111,018,238	104,243,806
Other Assets			33,769,462	27,769,296
Total Assets			163,302,510	149,389,135
Liabilities
Customer Deposits			108,404,522	100,947,244
Financial Obligations			28,560,065	25,294,735
Other Liabilities			6,670,148	4,955,086
Total Liabilities			143,634,735	131,197,065
Banco de Occidente S.A.
Assets
Trading assets			1,670,934	584,470
Investment securities			5,070,964	5,215,334
Investments in associates and joint ventures			1,247,935	672,169
Loans and receivables			26,996,654	27,480,881
Other Assets			3,935,123	3,794,020
Total Assets			38,921,610	37,746,874
Liabilities
Customer Deposits			25,592,232	26,169,109
Financial Obligations			6,881,717	5,802,728
Other Liabilities			1,941,504	1,370,759
Total Liabilities			34,415,453	33,342,596
Banco Popular S.A.
Assets
Trading assets			235,283	217,354
Investment securities			2,900,778	2,655,936
Investments in associates and joint ventures			396,289	10,965
Loans and receivables			18,287,166	17,034,186
Other Assets			2,829,152	2,403,662
Total Assets			24,648,668	22,322,103
Liabilities
Customer Deposits			17,571,388	15,968,499
Financial Obligations			3,139,013	2,778,675
Other Liabilities			1,047,333	903,882
Total Liabilities			21,757,734	19,651,056
Banco Comercial AV Villas S.A.
Assets
Trading assets			302,226	328,070
Investment securities			1,225,551	670,278
Investments in associates and joint ventures			2,347	1,597
Loans and receivables			11,027,826	9,977,597
Other Assets			1,649,531	1,340,582
Total Assets			14,207,481	12,318,124
Liabilities
Customer Deposits			11,425,400	10,086,106
Financial Obligations			647,872	212,914
Other Liabilities			514,029	554,618
Total Liabilities			12,587,301	10,853,638
Corporacion Financiera Colombiana S.A.
Assets
Trading assets			1,987,205	1,577,734
Investment securities			3,189,297	2,626,170
Hedging derivatives assets			43	5,154
Investments in associates and joint ventures			759,222	820,125
Loans and receivables			2,575,561	2,785,100
Other Assets			17,729,308	13,300,715
Total Assets			26,240,636	21,114,998
Liabilities
Customer Deposits			3,805,028	4,095,692
Financial Obligations			9,673,342	8,875,171
Other Liabilities			4,643,578	2,901,402
Total Liabilities			18,121,948	15,872,265
All other segments
Assets
Trading assets			212	1,075
Other Assets			3,924,117	3,737,676
Total Assets			3,924,329	3,738,751
Liabilities
Financial Obligations			4,376,021	4,947,839
Other Liabilities			443,591	581,996
Total Liabilities			4,819,612	5,529,835
Elimination of intersegment amounts [member]
Assets
Trading assets			(77,608)	(170,986)
Investment securities			(595,185)	(971,103)
Hedging derivatives assets			(2,886)	(1,269)
Investments in associates and joint ventures			(5,580,065)	(3,879,544)
Loans and receivables			(1,219,791)	(767,275)
Other Assets			(4,094,546)	(4,301,268)
Total Assets			(11,570,081)	(10,091,445)
Liabilities
Customer Deposits			(2,439,119)	(2,381,426)
Financial Obligations			(2,066,040)	(2,636,026)
Other Liabilities			(710,819)	(761,690)
Total Liabilities			$ (5,215,978)	$ (5,779,142)
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

ANALYSIS OF OPERATING SEGMENT_3

ANALYSIS OF OPERATING SEGMENTS - Statement of income (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Income
Interest income	$ 5,648.6		$ 18,356,636	$ 18,741,833	[2]	$ 17,546,970	[2]
Commission and fee income			5,453,382	5,202,125		4,879,187
Income from sales of goods and services	2,500.5		8,126,014	5,792,850	[2]	6,654,623	[2]
Participation in profit or loss associates and joint business			197,715	171,964		140,765
Dividends			71,487	50,439		28,027
Other Income			1,877,991	1,700,641		2,412,994
Total income			34,083,225	31,659,852		31,662,566
Expenses
Interest expense			7,484,841	8,227,699		8,392,405
Impairment loss on loan and other accounts receivable			4,149,972	4,119,334		3,004,184
Depreciations and amortizations			539,751	521,408		471,608
Commission and fee expense	188.9		613,763	623,114	[2]	619,528	[2]
Costs and expenses of sales goods and services	1,686.9		5,482,102	5,035,827	[2]	5,725,328	[2]
Administrative Expenses			4,640,460	4,513,148		4,409,199
Other expense			3,838,195	3,704,095		3,466,469
Income tax expense	661.5		2,149,590	1,752,794	[2]	2,056,909	[2]
Total Expenses			28,898,674	28,497,419		28,145,630
Net income for the year	$ 1,595.4		5,184,551	3,162,433	[2]	3,516,936	[2]
Banco de Bogota S.A.
Income
Interest income			11,136,903	11,241,897		10,481,965
Commission and fee income			4,394,989	4,187,221		3,957,774
Income from sales of goods and services			130,007	104,277		4,037
Participation in profit or loss associates and joint business			6,126	5,847		(4,275)
Dividends			4,855	1,321		1,779
Other Income			1,211,601	954,355		1,527,712
Total income			16,884,481	16,494,918		15,968,992
Expenses
Interest expense			4,328,845	4,594,100		4,568,469
Impairment loss on loan and other accounts receivable			2,610,893	2,459,293		1,897,902
Depreciations and amortizations			363,264	361,621		352,618
Commission and fee expense			362,810	351,073		347,612
Costs and expenses of sales goods and services			254,904	238,836		195,564
Administrative Expenses			3,171,147	3,035,346		2,943,832
Other expense			2,552,588	2,491,823		2,414,696
Income tax expense			950,042	970,207		1,150,393
Total Expenses			14,594,493	14,502,299		13,871,086
Net income for the year			3,131,213	2,132,951		4,432,025
Banco de Occidente S.A.
Income
Interest income			3,087,525	3,450,056		3,363,556
Commission and fee income			399,785	396,658		387,986
Income from sales of goods and services			65,916	62,294		56,109
Participation in profit or loss associates and joint business			2,688	2,402		(484)
Dividends			286	370		1,150
Other Income			152,866	194,155		233,645
Total income			3,709,066	4,105,935		4,041,962
Expenses
Interest expense			1,135,189	1,388,144		1,455,389
Impairment loss on loan and other accounts receivable			1,014,420	993,350		579,471
Depreciations and amortizations			77,174	69,255		64,252
Commission and fee expense			71,570	94,089		99,804
Costs and expenses of sales goods and services			242,943	206,532		195,894
Administrative Expenses			699,653	703,106		632,153
Other expense			418,471	390,812		363,398
Income tax expense			(35,454)	115,778		232,292
Total Expenses			3,623,966	3,961,066		3,622,653
Net income for the year			416,294	377,687		627,992
Banco Popular S.A.
Income
Interest income			2,192,941	2,196,753		2,042,878
Commission and fee income			245,721	224,233		219,717
Income from sales of goods and services			12,124	58,184		31,704
Participation in profit or loss associates and joint business			3,083	2,622		388
Dividends			2,314	1,991		3,112
Other Income			132,562	63,157		183,730
Total income			2,588,745	2,546,940		2,481,529
Expenses
Interest expense			850,707	977,441		995,070
Impairment loss on loan and other accounts receivable			186,622	258,926		229,948
Depreciations and amortizations			50,819	45,417		40,449
Commission and fee expense			89,515	86,228		83,857
Costs and expenses of sales goods and services			13,962	26,764		31,503
Administrative Expenses			564,289	520,204		501,664
Other expense			402,933	334,944		293,930
Income tax expense			152,923	108,914		151,365
Total Expenses			2,311,770	2,358,838		2,327,786
Net income for the year			354,961	205,694		181,075
Banco Comercial AV Villas S.A.
Income
Interest income			1,383,023	1,305,784		1,193,544
Commission and fee income			261,769	250,824		237,762
Participation in profit or loss associates and joint business			2,550	2,043		729
Dividends			1,399	1,514		2,941
Other Income			53,724	62,642		99,701
Total income			1,702,465	1,622,807		1,534,677
Expenses
Interest expense			370,015	423,069		451,224
Impairment loss on loan and other accounts receivable			297,265	327,833		236,434
Depreciations and amortizations			33,438	29,897		24,787
Commission and fee expense			107,759	108,572		98,738
Administrative Expenses			408,079	375,522		324,787
Other expense			190,005	180,186		158,243
Income tax expense			101,303	63,174		79,994
Total Expenses			1,507,864	1,508,253		1,374,207
Net income for the year			216,468	137,695		179,550
Corporacion Financiera Colombiana S.A.
Income
Interest income			556,068	547,028		442,398
Commission and fee income			77,936	95,086		63,763
Income from sales of goods and services			7,917,967	5,568,095		6,577,127
Participation in profit or loss associates and joint business			183,268	159,050		144,407
Dividends			62,633	45,243		18,973
Other Income			324,524	423,255		363,491
Total income			9,122,396	6,837,757		7,610,159
Expenses
Interest expense			781,037	852,501		947,603
Impairment loss on loan and other accounts receivable			40,772	79,932		59,176
Depreciations and amortizations			7,750	5,881		4,513
Commission and fee expense			13,322	10,772		8,970
Costs and expenses of sales goods and services			5,011,808	4,577,538		5,292,651
Administrative Expenses			95,338	119,271		138,626
Other expense			233,165	241,854		104,944
Income tax expense			908,261	440,043		381,647
Total Expenses			7,091,453	6,327,792		6,938,130
Net income for the year			2,068,518	563,553		671,337
All other segments
Income
Interest income			176	315		22,629
Commission and fee income			73,182	48,103		12,185
Income from sales of goods and services						(14,354)
Dividends						72
Other Income			2,714	3,077		4,715
Total income			76,072	51,495		25,247
Expenses
Interest expense			222,519	216,694		312,113
Impairment loss on loan and other accounts receivable						1,253
Depreciations and amortizations			7,306	9,337		997
Commission and fee expense			2,511	2,550		219
Costs and expenses of sales goods and services			(5,409)	(5,901)		(5,779)
Administrative Expenses			206,690	229,821		57,536
Other expense			(283,719)	(311,137)		(331,792)
Income tax expense			70,145	51,957		3,111
Total Expenses			220,043	193,321		37,658
Net income for the year			(9,616)	30,158		(12,411)
Operating segments [member] | Banco de Bogota S.A.
Income
Total income			17,725,706	16,635,250		18,303,111
Operating segments [member] | Banco de Occidente S.A.
Income
Total income			4,040,260	4,338,753		4,250,645
Operating segments [member] | Banco Popular S.A.
Income
Total income			2,666,731	2,564,532		2,508,861
Operating segments [member] | Banco Comercial AV Villas S.A.
Income
Total income			1,724,332	1,645,948		1,553,757
Operating segments [member] | Corporacion Financiera Colombiana S.A.
Income
Total income			9,159,971	6,891,345		7,609,467
Operating segments [member] | All other segments
Income
Total income			210,427	223,479		25,247
Elimination of intersegment amounts [member]
Income
Interest income			(105,575)	(142,946)		(305,600)
Commission and fee income			(123,877)	(124,008)		(22,853)
Income from sales of goods and services			(116,274)	(99,353)		(78,698)
Participation in profit or loss associates and joint business			(797,473)	(176,252)		(231,568)
Dividends			(27,488)	(17,819)		(46,573)
Other Income			(273,515)	(79,077)		(1,903,230)
Total income			(1,444,202)	(639,455)		(2,588,522)
Expenses
Interest expense			(203,471)	(224,250)		(337,463)
Depreciations and amortizations						(16,008)
Commission and fee expense			(33,724)	(30,170)		(19,672)
Costs and expenses of sales goods and services			(36,106)	(7,942)		15,495
Administrative Expenses			(504,736)	(470,122)		(189,399)
Other expense			324,752	375,613		463,050
Income tax expense			2,370	2,721		58,107
Total Expenses			(450,915)	(354,150)		(25,890)
Net income for the year			(993,287)	(285,305)		(2,562,632)
Elimination of intersegment amounts [member] | Banco de Bogota S.A.
Income
Interest income			(58,463)	(72,910)		(219,995)
Commission and fee income			(5,977)	(2,988)		(900)
Income from sales of goods and services			(580)	(15)		(89,030)
Participation in profit or loss associates and joint business			(562,070)	(36,782)		(116,488)
Dividends			(12,894)	(3,101)
Other Income			(201,241)	(24,536)		(1,907,706)
Total income			(841,225)	(140,332)		(2,334,119)
Elimination of intersegment amounts [member] | Banco de Occidente S.A.
Income
Interest income			(10,971)	(1,818)		(2,893)
Commission and fee income			(9,395)	(5,171)		(4,386)
Income from sales of goods and services			(109,927)	(78,286)		(72,075)
Participation in profit or loss associates and joint business			(180,142)	(139,555)		(118,109)
Dividends			(2,414)	(5,494)		(20,336)
Other Income			(18,345)	(2,494)		9,116
Total income			(331,194)	(232,818)		(208,683)
Elimination of intersegment amounts [member] | Banco Popular S.A.
Income
Interest income			(3,681)	(1,047)		(848)
Commission and fee income			(6,760)	(4,133)		(2,282)
Participation in profit or loss associates and joint business			(57,340)	376		1,206
Dividends			(9,355)	(6,810)		(25,293)
Other Income			(850)	(5,978)		(115)
Total income			(77,986)	(17,592)		(27,332)
Elimination of intersegment amounts [member] | Banco Comercial AV Villas S.A.
Income
Interest income			(1,726)	(4,797)		(6,223)
Commission and fee income			(19,992)	(15,065)		(13,170)
Participation in profit or loss associates and joint business			3,230	(132)		1,923
Dividends			(1,614)	(1,170)
Other Income			(1,765)	(1,977)		(1,610)
Total income			(21,867)	(23,141)		(19,080)
Elimination of intersegment amounts [member] | Corporacion Financiera Colombiana S.A.
Income
Interest income			(30,590)	(62,097)		(75,641)
Commission and fee income			(1,350)	(1,339)		(2,115)
Income from sales of goods and services			(5,767)	(6,992)		82,407
Participation in profit or loss associates and joint business			(1,151)	(159)		(100)
Dividends			(1,211)	(1,244)		(944)
Other Income			2,494	18,243		(2,915)
Total income			(37,575)	(53,588)
Expenses
Total Expenses						$ 692
Elimination of intersegment amounts [member] | All other segments
Income
Interest income			(144)	(277)
Commission and fee income			(80,403)	(95,312)
Income from sales of goods and services				(14,060)
Other Income			(53,808)	(62,335)
Total income			$ (134,355)	$ (171,984)
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

ANALYSIS OF OPERATING SEGMENT_4

ANALYSIS OF OPERATING SEGMENTS - Revenue from contracts with customers (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018COP ($)
Disclosure of operating segments [line items]
Revenue from contracts with customers	$ 13,579,396
Goods or services transferred at point in time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	11,838,660
Goods or services transferred over time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	1,740,736
Banco de Bogota S.A.
Disclosure of operating segments [line items]
Revenue from contracts with customers	4,530,757
Banco de Bogota S.A. | Goods or services transferred at point in time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	3,374,159
Banco de Bogota S.A. | Goods or services transferred over time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	1,156,598
Banco de Occidente S.A.
Disclosure of operating segments [line items]
Revenue from contracts with customers	582,571
Banco de Occidente S.A. | Goods or services transferred at point in time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	456,047
Banco de Occidente S.A. | Goods or services transferred over time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	126,524
Banco Popular S.A.
Disclosure of operating segments [line items]
Revenue from contracts with customers	262,703
Banco Popular S.A. | Goods or services transferred at point in time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	190,613
Banco Popular S.A. | Goods or services transferred over time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	72,090
Banco Comercial AV Villas S.A.
Disclosure of operating segments [line items]
Revenue from contracts with customers	281,761
Banco Comercial AV Villas S.A. | Goods or services transferred at point in time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	122,614
Banco Comercial AV Villas S.A. | Goods or services transferred over time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	159,147
Corporacion Financiera Colombiana S.A.
Disclosure of operating segments [line items]
Revenue from contracts with customers	7,770,108
Corporacion Financiera Colombiana S.A. | Goods or services transferred at point in time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	7,602,668
Corporacion Financiera Colombiana S.A. | Goods or services transferred over time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	167,440
All other segments
Disclosure of operating segments [line items]
Revenue from contracts with customers	437,292
All other segments | Goods or services transferred at point in time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	595
All other segments | Goods or services transferred over time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	436,697
Elimination of intersegment amounts [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	(285,796)
Elimination of intersegment amounts [member] | Goods or services transferred at point in time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers, other	91,964
Elimination of intersegment amounts [member] | Goods or services transferred over time [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	$ (377,760)

ANALYSIS OF OPERATING SEGMENT_5

ANALYSIS OF OPERATING SEGMENTS - Income by country (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of operating segments [line items]
Revenue	$ 34,083,225	$ 31,659,852	$ 31,662,566
Colombia
Disclosure of operating segments [line items]
Revenue	25,611,992	23,824,994	24,273,358
Panama
Disclosure of operating segments [line items]
Revenue	1,527,626	1,410,766	1,333,843
Costa Rica
Disclosure of operating segments [line items]
Revenue	3,065,997	2,752,109	2,598,446
Guatemala
Disclosure of operating segments [line items]
Revenue	1,273,570	1,132,646	1,084,436
Other countries
Disclosure of operating segments [line items]
Revenue	$ 2,604,040	$ 2,539,337	$ 2,372,483

ANALYSIS OF OPERATING SEGMENT_6

ANALYSIS OF OPERATING SEGMENTS - Non-current assets by country (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of operating segments [line items]
Own - use Property, plant and equipment, net	$ 2,027.4		$ 6,588,483	$ 6,654,006	[2]
Intangible assets	$ 4,267.1		13,866,959	10,863,904	[2]
Property, plant and equipment for own use
Disclosure of operating segments [line items]
Own - use Property, plant and equipment, net			5,663,743	5,799,997
Colombia
Disclosure of operating segments [line items]
Intangible assets			8,625,595	5,868,867
Colombia | Property, plant and equipment for own use
Disclosure of operating segments [line items]
Own - use Property, plant and equipment, net			4,450,061	4,635,899
Panama
Disclosure of operating segments [line items]
Intangible assets			3,979,443	3,657,236
Panama | Property, plant and equipment for own use
Disclosure of operating segments [line items]
Own - use Property, plant and equipment, net			213,090	203,824
Costa Rica
Disclosure of operating segments [line items]
Intangible assets			100,631	89,343
Costa Rica | Property, plant and equipment for own use
Disclosure of operating segments [line items]
Own - use Property, plant and equipment, net			378,554	366,800
Guatemala
Disclosure of operating segments [line items]
Intangible assets			15,988	16,714
Guatemala | Property, plant and equipment for own use
Disclosure of operating segments [line items]
Own - use Property, plant and equipment, net			108,167	98,778
Other countries
Disclosure of operating segments [line items]
Intangible assets			1,145,302	1,231,744
Other countries | Property, plant and equipment for own use
Disclosure of operating segments [line items]
Own - use Property, plant and equipment, net			$ 513,871	$ 494,696
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

ANALYSIS OF OPERATING SEGMENT_7

ANALYSIS OF OPERATING SEGMENTS - Textual (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016COP ($)
Disclosure of operating segments [abstract]
Income from deconsolidation	$ 2,208,053

UNCONSOLIDATED STRUCTURED ENT_3

UNCONSOLIDATED STRUCTURED ENTITIES (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of unconsolidated structured entities [line items]
Percentage of total assets	1.35%	1.92%
Grupo Aval [Member]
Disclosure of unconsolidated structured entities [line items]
Investments at fair value through profit or loss	$ 2,195,458	$ 3,050,101
Other account receivables	34,431	37,606
Total assets in relation to the Grupo Aval’s interests in the unconsolidated structured entities	2,229,889	3,087,707
Grupo Aval’s maximum exposure	2,229,889	3,087,707
Securitizations [Member]
Disclosure of unconsolidated structured entities [line items]
Investments at fair value through profit or loss	13,733	19,602
Total assets in relation to the Grupo Aval’s interests in the unconsolidated structured entities	13,733	19,602
Grupo Aval’s maximum exposure	13,733	19,602
Managed funds [Member] | Grupo Aval [Member]
Disclosure of unconsolidated structured entities [line items]
Investments at fair value through profit or loss	2,181,725	3,030,499
Other account receivables	34,431	37,606
Total assets in relation to the Grupo Aval’s interests in the unconsolidated structured entities	2,216,156	3,068,105
Grupo Aval’s maximum exposure	$ 2,216,156	$ 3,068,105

TRANSFERS OF FINANCIAL ASSETS_2

TRANSFERS OF FINANCIAL ASSETS (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure Of Transfers Of Financial Assets [Line Items]
Income for commission and fees	$ 1,678.1		$ 5,453,382	$ 5,202,125	[2]	$ 4,879,187	[2]
Securitisations [member]
Disclosure Of Transfers Of Financial Assets [Line Items]
Financial assets			13,733	19,602		27,377
Income for commission and fees			$ 79	$ 136		$ 96
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

TRANSFERS OF FINANCIAL ASSETS -

TRANSFERS OF FINANCIAL ASSETS - Textual (Details) - COP ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Pledged in money market operations and pledged as collateral
Disclosure Of Transfers Of Financial Assets [Line Items]
Financial assets pledged as collateral for liabilities or contingent liabilities	$ 1,139,782	$ 843,075
Pledged in money market operations
Disclosure Of Transfers Of Financial Assets [Line Items]
Financial assets pledged as collateral for liabilities or contingent liabilities	1,105,591	813,783
Debt securities available for sale [Member] | Pledged in money market operations
Disclosure Of Transfers Of Financial Assets [Line Items]
Financial assets pledged as collateral for liabilities or contingent liabilities	4,029,816	2,878,772
Held for trading debt securities | Pledged in money market operations and pledged as collateral
Disclosure Of Transfers Of Financial Assets [Line Items]
Financial assets pledged as collateral for liabilities or contingent liabilities	$ 1,139,782	$ 843,075

RELATED PARTIES (Details)

RELATED PARTIES (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017USD ($)	[1]	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)	[3]	Dec. 31, 2015COP ($)	[3]
Assets
Cash and equivalents	$ 8,739.5		$ 28,401,283	$ 6,873.4		$ 22,336,838	[2],[3]	$ 22,193,004		$ 22,284,977
Other assets	142.4		462,890			519,771	[2]
Liabilities
Deposits	50,576		164,359,451			154,885,224	[2]
Financial liabilities			216,578,285			200,473,389
Other liabilities	$ 2,771.9		9,007,953			6,235,466	[2]
Individuals with Control Over Entity [Member]
Assets
Financial assets in credit operations			2,680			3,066
Accounts receivable			9			11
Liabilities
Deposits			100,199			21,257
Accounts payable			38			103
Financial liabilities			1			4
Key management personnel of entity or parent [member]
Assets
Financial assets in credit operations			17,062			10,665
Accounts receivable			58			33
Liabilities
Deposits			21,726			20,192
Accounts payable			686			700
Financial liabilities			3			10
Other liabilities						4
Associates [member]
Assets
Cash and equivalents						11
Financial assets in investments			920,170			910,310
Financial assets in credit operations			1,443,476			1,492,067
Accounts receivable			8,105			59,588
Other assets			20,348			156,636
Liabilities
Deposits			70,960			2,535,339
Accounts payable			10,114			15,353
Financial liabilities			102			16,435
Other liabilities			25,040			7,424
Entities controlled by individuals [Member]
Assets
Financial assets in investments						1,249
Financial assets in credit operations			1,513,218			1,301,697
Accounts receivable			3,329			4,421
Other assets			5,030			3,661
Liabilities
Deposits			570,558			1,566,160
Accounts payable			291,328			322,275
Financial liabilities			7			1,249
Other liabilities			194			49
Entities with joint control or significant influence over entity [member]
Assets
Cash and equivalents						67
Financial assets in credit operations			102,958			3,385
Accounts receivable			17
Other assets						18
Liabilities
Deposits			23,470			1,275
Accounts payable			1			$ 18,671
Other liabilities			$ 3
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.
[3]	See note 2.5 “Changes in accounting policies”.

RELATED PARTIES - Transactions

RELATED PARTIES - Transactions (Details) $ in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Income
Interest income		$ 5,648.6		$ 18,356,636	$ 18,741,833	[2]	$ 17,546,970	[2]
Fee income and commissions		1,678.1		5,453,382	5,202,125	[2]	4,879,187	[2]
Other income	[2]	418.1		1,358,681	1,151,745		1,676,106
Expenses
Expenses from commissions and fees		(188.9)		(613,763)	(623,114)	[2]	(619,528)	[2]
Other expenses		$ (2,883.6)		(9,371,033)	(9,003,091)	[2]	(8,567,309)	[2]
Individuals with Control Over Entity [Member]
Income
Interest income				216	164		28
Fee income and commissions				5	5		4
Other income				4	4		440
Expenses
Finance costs				(216)	(243)		(84)
Expenses from commissions and fees				(4)	(4)		(333)
Other expenses				(16)			(11)
Entities controlled by individuals [Member]
Income
Interest income				131,368	123,671		64,299
Fee income and commissions				65,615	57,180		33,659
Leases				315	301		290
Other income				4,252	6,391		2,957
Expenses
Finance costs				(17,322)	(30,431)		(19,064)
Expenses from commissions and fees				(1,796)	(3,276)		(2,674)
Operating expenses				(4,013)	(1,892)		(2,060)
Other expenses				(27,034)	(34,400)		(15,159)
Key management personnel of entity or parent [member]
Income
Interest income				907	757		321
Fee income and commissions				58	48		28
Other income				243	59
Expenses
Finance costs				(740)	(1,197)		(656)
Expenses from commissions and fees				(1,549)	(1,510)		(931)
Operating expenses				(25,808)	(9,706)		(5,588)
Other expenses				(496)	(1,635)		(1,390)
Associates [member]
Income
Interest income				101,539	155,690		81,646
Fee income and commissions				6,664	26,249		12,717
Leases				45	321		66
Other income				241,797	236,871		171,405
Expenses
Finance costs				(735)	(129,335)		(88,800)
Expenses from commissions and fees				(14,741)	(24,039)		(15,451)
Operating expenses				(53)	(3,572)		(75)
Other expenses				(30,250)	(32,691)		(193,762)
Entities with joint control or significant influence over entity [member]
Income
Interest income				4,789	543		789
Fee income and commissions				5
Leases							30
Other income							9,915
Expenses
Finance costs				(22)	(6)
Expenses from commissions and fees				$ (5)	(1)		(143)
Operating expenses					$ (113)		(1)
Other expenses							$ (811)
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

RELATED PARTIES - Compensation

RELATED PARTIES - Compensation of key management personnel (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Related Parties [Abstract]
Salaries	$ 18,123	$ 17,073	$ 15,731
Short term benefits for employees	3,244	3,167	10,664
Total	$ 21,367	$ 20,240	$ 26,395

SUBSEQUENT EVENTS - Narrative (

SUBSEQUENT EVENTS - Narrative (Details) - COP ($) $ / shares in Units, $ in Millions	Mar. 29, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of non-adjusting events after reporting period [abstract]
Cash dividend declared, per installment	$ 5	$ 4	$ 4.90	$ 4.90
Dividend declared	$ 1,336,861	$ 1,069,489	$ 1,310,124	$ 655,062

SUBSEQUENT EVENTS - Total Incom

SUBSEQUENT EVENTS - Total Income available for disposal (Details) - COP ($) $ in Millions	Mar. 29, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of non-adjusting events after reporting period [abstract]
Net income for period ended December 31, 2018 included in the unconsolidated financial statements of Grupo Aval	$ 2,887,749	$ 2,001,178	$ 1,053,594	$ 1,258,835
Occasional reserve release at the disposal of the General Meeting of Shareholders	6,265,450
Total Income available for disposal of the General Meeting of Shareholders	$ 9,153,199

SUBSEQUENT EVENTS - General inf

SUBSEQUENT EVENTS - General information (Details)	Mar. 29, 2019installment$ / sharesshares	Dec. 31, 2018installment$ / sharesshares	Dec. 31, 2017installment$ / sharesshares	Dec. 31, 2016installment$ / sharesshares
Disclosure of non-adjusting events after reporting period [abstract]
Cash dividends declared	$ 60	$ 48	$ 58.80	$ 29.40
Number of installments dividends payable | installment	12	12	12	6
Cash dividend declared, per installment	$ 5	$ 4	$ 4.90	$ 4.90
Total shares outstanding | shares	22,281,017,159	22,281,017,159	22,281,017,159	22,281,017,159

SUBSEQUENT EVENTS - Occasional

SUBSEQUENT EVENTS - Occasional reserve at disposal (Details) - COP ($) $ in Millions	Mar. 29, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of non-adjusting events after reporting period [abstract]
Total Income available for disposal of the General Meeting of Shareholders	$ 9,153,199
Dividend declared	1,336,861	$ 1,069,489	$ 1,310,124	$ 655,062
To Occasional reserve at the disposal of General Meeting of shareholders	$ 7,816,338

PARENT COMPANY INFORMATION - St

PARENT COMPANY INFORMATION - Statement of Financial Position (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017USD ($)	[1]	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)		Dec. 31, 2015COP ($)
Current Assets
Cash and cash equivalents	$ 8,739.5		$ 28,401,283	$ 6,873.4		$ 22,336,838	[2],[3]	$ 22,193,004	[3]	$ 22,284,977	[3]
Accounts receivable from related parties			136,551			114,513
Non current Assets
Property plant and equipment	2,027.4		6,588,483			6,654,006	[2]
Deferred	105		341,338			139,423	[2]
Total assets	79,906.2		259,675,153			236,538,540	[2]
Long-term liabilities
Deferred tax liabilities	665		2,160,942			1,696,843	[2]
Total liabilities	70,811.8		230,120,805			210,667,313	[2]
Equity
Shareholders’ equity	9,094.3		29,554,348			25,871,227	[2]	24,659,222		22,906,280
Total liabilities and shareholders’ equity	$ 79,906.2		259,675,153			236,538,540	[2]
Parent
Current Assets
Cash and cash equivalents			38,667			35,478		$ 47,280		$ 12,164
Trading securities			1,543			453
Accounts receivable from related parties			267,640			274,323
Other assets			517			513
Total current assets			308,367			310,767
Non current Assets
Investments in subsidiaries			19,932,376			18,589,623
Property plant and equipment			2,414			2,851
Deferred			476
Total non current assets			19,935,266			18,592,474
Total assets			20,243,633			18,903,241
Current liabilities
Borrowings at amortized cost			2,808			290,101
Outstanding bonds at amortized cost			284,758			5,725
Accounts payable			405,372			440,318
Other non-financial liabilities			1,214			1,233
Total current liabilities			694,152			737,377
Long-term liabilities
Borrowings at amortized cost			541,924			253,503
Outstanding bonds			824,520			1,104,080
Deferred tax liabilities						33
Total non current liabilities			1,366,444			1,357,616
Total liabilities			2,060,596			2,094,993
Equity
Shareholders’ equity			18,183,037			16,808,248
Total liabilities and shareholders’ equity			$ 20,243,633			$ 18,903,241
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.
[3]	See note 2.5 “Changes in accounting policies”.

PARENT COMPANY INFORMATION - _2

PARENT COMPANY INFORMATION - Statement of Income (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Operating revenue
Equity method income, net			$ 197,715	$ 171,964		$ 140,765
Other revenue from ordinary activities			394,401	428,998		729,499
Expenses, net
Administrative expenses			4,640,460	4,513,148		4,409,199
Other expenses	$ 2,883.6		9,371,033	9,003,091	[2]	8,567,309	[2]
Net income before taxes	2,256.8		7,334,141	4,915,227	[2],[3]	5,573,845	[2],[3]
Income tax expense	661.5		2,149,590	1,752,794	[2]	2,056,909	[2]
Net income	$ 1,595.4		5,184,551	3,162,433	[2]	3,516,936	[2]
Parent
Operating revenue
Equity method income, net			2,893,435	2,005,155		2,330,814
Other revenue from ordinary activities			285,218	234,502		77,387
Total operating revenue			3,178,653	2,239,657		2,408,201
Expenses, net
Administrative expenses			75,348	89,823		98,130
Other expenses			166	274		168
(Losses) gains from exchange differences			(1,601)	98		(1,085)
Operating income			3,101,538	2,149,658		2,308,818
Financial expenses			118,892	133,171		125,585
Net income before taxes			2,982,646	2,016,487		2,183,233
Income tax expense			66,662	51,568		5,620
Net income			$ 2,915,984	$ 1,964,919		$ 2,177,613
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.
[3]	See note 2.5 “Changes in accounting policies”.

PARENT COMPANY INFORMATION - Ca

PARENT COMPANY INFORMATION - Cash flow (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)		Dec. 31, 2017COP ($)		Dec. 31, 2016COP ($)
Disclosure of parent company information
Net income	$ 1,595.4		$ 5,184,551		$ 3,162,433	[2]	$ 3,516,936	[2]
Net cash provided (used in) by investing activities	(937.7)		(3,047,304)		(3,610,068)	[3]	(952,870)	[3]
Net cash (used in) provided by financing activities	(307)		(997,557)		(1,445,976)	[3]	66,863	[3]
Increase (decrease) in cash and cash equivalents	1,866.1		6,064,445		143,834	[3]	(91,973)	[3]
Cash and cash equivalents at beginning of year	6,873.4		22,336,838	[2],[3]	22,193,004	[3]	22,284,977	[3]
Cash and cash equivalents at end of year	$ 8,739.5		28,401,283		22,336,838	[2],[3]	22,193,004	[3]
Parent
Disclosure of parent company information
Net income			2,915,984		1,964,919		2,177,613
Adjustments to reconcile net income to net cash used by operating activities			(1,773,713)		(867,042)		(1,726,296)
Net cash provided by operating activities			1,142,271		1,097,877		451,317
Net cash provided (used in) by investing activities			(11,185)		(8,830)		(55,374)
Net cash (used in) provided by financing activities			(1,127,897)		(1,100,849)		(360,827)
Increase (decrease) in cash and cash equivalents			3,189		(11,802)		35,116
Cash and cash equivalents at beginning of year			35,478		47,280		12,164
Cash and cash equivalents at end of year			$ 38,667		$ 35,478		$ 47,280
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.
[3]	See note 2.5 “Changes in accounting policies”.

PARENT COMPANY INFORMATION - In

PARENT COMPANY INFORMATION - Investment in Subsidiaries (Details) - COP ($) $ in Millions	Sep. 05, 2018	Sep. 04, 2018	Dec. 31, 2018	Dec. 31, 2017
Banco de Bogota S.A.
Disclosure of parent company information
Proportion of ownership interest in subsidiary			68.74%
Banco de Occidente S.A.
Disclosure of parent company information
Proportion of ownership interest in subsidiary			72.27%
Banco Comercial AV Villas S.A.
Disclosure of parent company information
Proportion of ownership interest in subsidiary			79.87%
Banco Popular S.A.
Disclosure of parent company information
Proportion of ownership interest in subsidiary			93.74%
Corporacion Financiera Colombiana S.A.
Disclosure of parent company information
Proportion of ownership interest in subsidiary	38.25%	44.79%	38.25%
Parent
Disclosure of parent company information
Investments in subsidiaries			$ 19,932,376	$ 18,589,623
Parent | Banco de Bogota S.A.
Disclosure of parent company information
Proportion of ownership interest in subsidiary			68.74%	68.74%
Investments in subsidiaries			$ 11,905,815	$ 11,000,669
Parent | Banco de Occidente S.A.
Disclosure of parent company information
Proportion of ownership interest in subsidiary			72.27%	72.27%
Investments in subsidiaries			$ 3,183,351	$ 3,174,228
Parent | Banco Comercial AV Villas S.A.
Disclosure of parent company information
Proportion of ownership interest in subsidiary			79.87%	79.87%
Investments in subsidiaries			$ 1,290,056	$ 1,190,740
Parent | Banco Popular S.A.
Disclosure of parent company information
Proportion of ownership interest in subsidiary			93.74%	93.74%
Investments in subsidiaries			$ 2,923,562	$ 2,710,218
Parent | Corporacion Financiera Colombiana S.A.
Disclosure of parent company information
Proportion of ownership interest in subsidiary			38.25%	44.79%
Investments in subsidiaries			$ 674,484	$ 504,962
Parent | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A.
Disclosure of parent company information
Proportion of ownership interest in subsidiary			75.69%	75.69%
Investments in subsidiaries			$ 440,707	$ 401,341
Parent | Grupo Aval Limited
Disclosure of parent company information
Proportion of ownership interest in subsidiary			100.00%	100.00%
Investments in subsidiaries			$ (347,082)	$ (315,227)
Parent | Grupo Aval International Limited
Disclosure of parent company information
Proportion of ownership interest in subsidiary			100.00%	100.00%
Investments in subsidiaries			$ (138,517)	$ (77,308)

PARENT COMPANY INFORMATION - Ou

PARENT COMPANY INFORMATION - Outstanding bonds (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)		Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of parent company information
Bonds issued	$ 6,197.5	[1]	$ 20,140,350	$ 19,102,196	[2]
Parent
Disclosure of parent company information
Outstanding bonds, Tranches			1,104,080
Bonds issued			1,109,278	1,109,805
Parent | Issuance date One
Disclosure of parent company information
Outstanding bonds, Tranches			100,000
Outstanding bonds, Maturity	June, 2020
Bonds issued			$ 100,065	100,074
Parent | Issuance date One | IPC
Disclosure of parent company information
Outstanding bonds, Coupon rate	2.69%		2.69%
Parent | Issuance date Two
Disclosure of parent company information
Outstanding bonds, Tranches			$ 300,000
Outstanding bonds, Maturity	June, 2042
Bonds issued			$ 300,237	$ 300,264
Parent | Issuance date Two | IPC
Disclosure of parent company information
Outstanding bonds, Coupon rate	3.99%		3.99%	3.99%
Parent | Issuance date Three
Disclosure of parent company information
Outstanding bonds, Tranches			$ 93,000
Outstanding bonds, Maturity	November, 2026
Bonds issued			$ 93,690	$ 93,758
Parent | Issuance date Three | IPC
Disclosure of parent company information
Outstanding bonds, Coupon rate	3.86%		3.86%	3.86%
Parent | Issuance date Four
Disclosure of parent company information
Outstanding bonds, Tranches			$ 207,000
Outstanding bonds, Maturity	November, 2036
Bonds issued			$ 208,597	$ 208,750
Parent | Issuance date Four | IPC
Disclosure of parent company information
Outstanding bonds, Coupon rate	4.15%		4.15%	4.15%
Parent | Issuance date Five
Disclosure of parent company information
Outstanding bonds, Tranches			$ 279,560
Outstanding bonds, Maturity	December, 2019
Bonds issued			$ 281,341	$ 281,528
Parent | Issuance date Five | IPC
Disclosure of parent company information
Outstanding bonds, Coupon rate	4.84%		4.84%	4.84%
Parent | Issuance date Six
Disclosure of parent company information
Outstanding bonds, Tranches			$ 124,520
Outstanding bonds, Maturity	December, 2024
Bonds issued			$ 125,348	$ 125,431
Parent | Issuance date Six | IPC
Disclosure of parent company information
Outstanding bonds, Coupon rate	5.20%		5.20%	5.20%
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.

PARENT COMPANY INFORMATION - Ma

PARENT COMPANY INFORMATION - Maturities of bonds (Details) $ in Millions, $ in Millions	Dec. 31, 2018USD ($)	[1]	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure of parent company information
Scheduled maturities of bonds	$ 6,197.5		$ 20,140,350	$ 19,102,196	[2]
Parent
Disclosure of parent company information
Scheduled maturities of bonds			1,109,278	$ 1,109,805
Parent | Not later than one year [member]
Disclosure of parent company information
Scheduled maturities of bonds			284,758
Parent | Later than one year and not later than two years [member]
Disclosure of parent company information
Scheduled maturities of bonds			100,000
Parent | Later than two years [member]
Disclosure of parent company information
Scheduled maturities of bonds			$ 724,520
[1]	See note 2.4, “convenience translation into U.S. dollars”.
[2]	See note 2.32, Changes in presentation.