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EXHIBIT 7. SELECTED RATIOS' CALCULATION INDEX DEC-2002 DEC-2003 DEC-2004 DEC-2005 DEC-2006
(IN PS MILLION )
Net Interest Income (1) 684,511 1,057,305 1,217,365 2,049,810 1,767,503
Total Interest Earning Assets (2) 9,214,486 11,466,269 13,905,061 25,244,735 28,532,355
Total Average Assets (3) 11,181,361 13,800,781 15,971,743 28,711,558 32,437,287
Total Average Shareholders' Equity (4) 1,030,459 1,507,480 1,800,275 3,006,580 3,392,142
Operating Expenses (5) 755,801 850,768 912,421 1,654,805 1,871,000
Net Income (6) 210,380 469,384 578,678 946,881 749,529
Total Assets (7) 12,599,582 15,176,129 17,479,129 30,803,517 34,488,696
Net Operating, Income (8) 1,100,938 1,572,630 1,791,818 3,012,087 2,906,597
Total Shareholders' Equity (9) 1,284,348 1,689,379 2,090,723 3,377,290 3,646,612
Loans (10) 6,197,315 8,029,668 10,035,239 18,626,252 24,645,574
Non-Performing Loans (11) 109,659 76,182 88,451 275,864 334,488
Allowance for Loans and Accrued Interest Losses (12) 347,398 392,433 438,981 714,537 845,827
Loans Classified as "C", "D" y "E" (13) 601,997 396,098 386,882 629,040 626,255
Technical Capital (14) 1,038,322 1,427,881 1,779,022 2,563,303 3,414,312
Risk Weighted Assets included Market Risk (15) 8,943,342 10,916,521 13,240,657 23,457,768 30,885,195
SELECTED RATIOS:
COLOMBIAN GAAP:
PROFITABILITY RATIOS:
Net Interest Margin (1)/(2) 7.43% 9.22% 8.75% 8.12% 6.19%
Return on Average Total Assets (6)/(3) 1.88% 3.40% 3.62% 3.30% 2.31%
Return on Average Shareholders' Equity (6)/(4) 20.42% 31.14% 32.14% 31.49% 22.10%
EFFICIENCY RATIO:
Operating Expenses as a Percentage of Interest, Fees
Services and Other Operating Income (5)/(8) 68.65% 54.10% 50.92% 54.94% 64.37%
EXHIBIT 7. SELECTED RATIOS' CALCULATION INDEX DEC-2002 DEC-2003 DEC-2004 DEC-2005 DEC-2006
CAPITAL RATIOS:
Period-end Shareholders' Equity as a Percentage of
Period-end Total Assets (9)/(7) 10.19% 11.13% 11.96% 10.96% 10.57%
Period-end Regulatory Capital as a Percentage of
Period-end Risk-Weighted Assets (14)/(15) 11.61% 13.08% 13.44% 10.93% 11.05%
CREDIT QUALITY DATA:
Non-Performing Loans as a Percentage of Total Loans (11)/(10) 1.77% 0.95% 0.88% 1.48% 1.36%
"C", "D" and "E" Loans as a Percentage of Total Loans (13)/(10) 9.71% 4.93% 3.86% 3.38% 2.54%
Allowance for Loan and Accrued Interest Losses as a
Percentage of Non-Performing Loans (12)/(11) 316.80% 515.13% 496.30% 259.02% 252.87%
Allowance for Loan and Accrued Interest Losses as a
Percentage of "C", "D" and "E" Loans (12)/(13) 57.71% 99.07% 113.47% 113.59% 135.06%
Allowance for Loan and Accrued Interest Losses as a
Percentage of Total Loans (12)/(10) 5.61% 4.89% 4.37% 3.84% 3.43%