you, Carlos. Thank Luis
with the XX% under in to equity be of numbers interest present ventures. a first understand This this the guidance the completed year. this associates consolidating to pro in of of for compare more XX% inclusion ending the better balance quarter, investments BHI the was baseline which Recapping, spin-off to and our and consistent will Bogotá BHI of XXX% equity we remainder at quarter. interest As joint and remaining mentioned, the of provide of end results for quarter's the de Banco in forma implied
substantial approximately balance investments, represented spin-off sheet variations our the implied and BHI loans, that income XX% fixed Given deposits, items. book, of equity other of
through BHI's net a contribution comparisons easier, the results in where in which second the XX% was our of to and income included make attracted equity of recorded completed, baseline BHI XXXX, Banco Given the assets, quarter. BHI during report, XXX% interest income. income our contributed is other method. under Bogotá the retained Starting the date the be the forma spin-off To quarter de by the liabilities quarters from at this our XXX% will figures, of net pro
assets, assets of and performance BHI, are adjustments use and on figures. beginning of Return sheet balance The as ratios average based XXXX. as the including equity first reported. cost that balance deduct cost addition, are risk on denominators quarter such to In average figures as NIM, on XXX% return presented IFRS of average
or I will the net a figures the ratios and to and However, comparable Aval, are mix IFRS only. during in of the starting weight increase revised and On in driven quarterly grew and forma bear reported items performance, under may some its purpose XX.X% of over ratios growth, the the assets presented six. consolidated our this on statements line Please Grupo not assets. pro mind differ from results audited over basis, are comparison that page and for financial consolidated move by as shown X.X% year loan IFRS be consolidated by future. Annual the quarter. of now were
from remaining The mix an shifted Following for XX% Bogotá reflects loans our located X.X% of asset in account the later, now assets American slightly spin-off, exclusively equity unconsolidated prior XXXX, are as our Central in Banco XX.X% investment de accounted to spin-off BHI for to consolidated December equity MFH. net towards investments. the and sources. interest and mainly our in in Panama assets, down
our We evolution Moving the to comparable X.X% X.X% year seven. page during loans on loans the the present basis. quarter. Gross grew a and over of
now XX.X% Following while of had the and of for respectively. mortgages. portion account loan gross shifted [ph] gross retail loans a of commercial Commercial our account loans loans, mortgage XX.X% giving consumer toward spin-off, lending, X.X%, and particularly mix BHA loans, for
December American X.X% operations to the down XX.X% in spin-off. our account gross XXXX of prior Multi from Central Holding to Our Panama consolidated Financial loans, in for
loans XXXX, lending. a loans be the XX.X% consumer slow reaching traction second respectively. Demand over months. of loans continued dynamic, continued and continued and the growth both quarterly over for a concentrate quarter XX X.X% commercial during X.X% X% after book to with gain increases, quarterly XX.X% quarter strong, and in to Payroll driving and of Our for resulting and strong growth performance X.X% XX% our half retail growth months. Commercial XX consumer XX-month a that in a reflected
more their other product line growth types economic annual to with X.X% loans given contribution in most quarter have However, XX.X%. were the risk the outlook. figure over in with loans of bank's that increased the changes favorable appetite dynamic growth, took to Personal
the the products X.X%. relatively over Over cards, credit loans and Both remained automobile year, quarter. XX.X% flat grew
dynamic, As the other over secured retail quarter products, mortgages X.X% and expanding remain year-on-year. XX.X%
over Moving the forward, business activity confidence the years. in and Colombia in continue growth stronger positive was what economic few supporting reported a trends loan than rate commercial last
lending banks momentum as extending expect beyond addition, that retail its allowing the and consolidates, persist the we continue recovery demand lower-risk employment household will to In products. continues
headwinds than XX of under as wind down. of gross quarter. the these represent now ratios on on and stages stable positive and earlier quality from loan risk relative improved with from pages. On remained geopolitical months XXXX Stage comparable quarter continued second are portfolio temporary XX.X% XX-day X by our improvements improving uncertainty in derived Reliefs each quality loan year confidence reported the three year basis. and coverage better loans several pages PDLs. during present loans, changes all stages year for loan in our a nine, those have lower quarter the presented as our of view this earlier. classified metrics associated monetary the eight over These of cycle. XX.X% by to the continued ratios earlier despite Composition with The results in Colombian and Cost we flat growth stage. a and improving remained on of and events a We election during portfolio in composition well XX.X%, the policy, to
to and and schedules of total numbers benefited X.X% the At almost are either X.X% loans. payment were only of days. These total gross portfolio. that payment total days. -- These for past gross the past XX under holidays gross March, that loan structural returned holidays programs restructured our were payment and payment PAM. to period, remained past from our payment together active our end of past for limited X.X% due of of Remaining than X% loans of holidays had had XX loans in loans due due our than As X.X% were accounting X.X% X.X% under represent or more loans more
PDLs over delinquencies, and to months over XX a XX basis point a improvement X.XX%, and XX over XX points improvement Regarding XX-day stable XX basis fell over months. PDLs to basis XX-day improvement months. three X.XX%, point three months an fell
result up Stage incorporates XX%. points a X.X% As points X which customers a and XX maintained XX% anticipated, loans improving net points, the increasing year. as balances. paid the Stage fully increase their This -- payment risk XXX level recoveries decrease retail. of Cost continued by previously commercial basis in portfolio, outstanding X improvement recorded basis our in loans point XXX X XX.X% approaching in or share Stage guidance loans our loan XX consumer basis to This relieved to the behavior was loans of mainly of performance driven was and of healthy X.X%, basis of for
on Funding of ratio XX, average year to page evolution reported charge-offs earlier. reflects funding a quarter the the that less and Finally, the deposit X.XXx during quarter, dynamic. we a a XX-day comparable than present loan stronger basis. PDLs growth XX% was for On
with during the accounting Funding of a year-on-year, in structure our for remained at funding driven X.X% increased by of stable result quarter loans X.X% and deposit remained relatively most accounts. deposits Deposits at net XXX%. ratio As checking growth XX%. our to
relative operates it funding on a that in mix trillion portion dollarized structure. bonds total minority present BHI's page are of On evolution equity, and and liquidity and our attributable are several saving spin-off resulted historically a bank. and considering of equity that X.XX to our higher adequacy interest. do funding we trillion accounts are rely our reported. central countries BHI operates and attributable capital which deposit not thus, equity the a decrease XX, The from ratios and in with X.XX the funding has total spin-off of of trillion the banks has larger X.XX Our after ratios
X.XX tangible X.XX the equity trillion spun-off the trillion was equity. decrease only total out in However, of
the impact an the quarter minority to stands spin-off, X.X% X.XX by dividends and changes their declared shareholders. our income, equity spin-off year a to equity The tangible compared net led a and our addition from improvement trillion to OCI, now In subsidiaries to ratio, in decreased X.X% net earlier. of our at which reported in XX.X% and
certain losses as decline Our led also income Bogota sharp over to in of benefits volatility ratio improved the as events prices suffered Offsetting securities recognized regulatory spin-off, unrealized of OCIs. assets to other fixed the year. solvency equity and to our from Colombian capital of bank's the quarter and of a Equity banks. that well FX consumed the and Banco
In used to assets. III, of step-up a Basal addition, into operational transition convert the quarter the as due during assets patients the risk core of part to to risk-weighted risk-weighted increased
anticipated, earlier core our As stable, relatively quarter compared last on Tier Bogota's and spin-off X equity the to remained a call, after ratios de despite Banco these total solvency headwinds.
associated of of income part without spin-off, the To OCI BHI this Banco the reclassified are paid of to accepted ratio accept realized Shareholders impact quarter of the Bogota's. and resulted with in of Bogota's required or net else from and law by dividends stock. meetings dividends through capital de on be Grupo strengthen approved de Aval's Aval's Banco BHI deconsolidation are the further during paid distribution stock that solvency shareholders' was respective to an cash, XX% As stock basis, dividends. the were in
Banco dividend similar as Aval to of In to well. percentage up recent payout de period. and in years, Bogota's a X.X% shares income de the ratio an normally normally quarter, Bogota's expect end was as core first during Tier that levels the net X we and be Banco lowest of dividends. have -- income. dividends equity paid net of report cash solvency paid XXXXs at this distributed As total average are dividends their are cash XX% to of close annual declared given Banks ratios Aval's
NIM Basel on in unrealized loans, spread spin-off present operational basis. losses a by of On with this due to NIM, risk-weighted pressing of performance a XX intervention page a Central quarter points III. comparable we mentioned, increases of up, addition, quarter Bank yield implied basis assets the transition the the basis and In and in points fourth a XXXX. tighter, cost increase our cost and NIM XX was through negatively XX, OCI, that relative was first to rate funds quarter sharp the on by risk, quarter slightly quarter by driven associated unknowns, in continued impacted to and during as funds,
phase inflection given monetary of policy, to a that loans, this pressure, of During NIM lacks on the particularly loans is repricing rate downward loans, funding. the fixed of consumer subject repricing that
In addition, fixed NIM. further the increase lower or on in securities, affecting implied rates yields our has losses income
throughout We rate as progressively lead loans the on maturity expect, continues loan as increase NIM the retail on cycle commercial interest retail origination upward and to loans on and to benefit year, higher from NIM NIM to loans.
On Gross fixed competition. latter net points, and income XX, in lending loans well security poor and During of believe, by environment. other while a on decreased X.X% NIM decreased the year-on-year present loans on and policies monetary be spread on environment on this X.X% Investments points XX The affected increased fee by events. and this fees decreased could during points we will yield geopolitical on global XX the income pressure the a X.XX%. fees under XXXX. funds page quarter-on-quarter. rate rising in on comparable rate performance and quarter, sector basis our as in on reflects stronger loans quarter, X.XX% basis. explained the gas of commercial investments largely performance X.XX%, basis sectors. non-financial retail energy the basis the the additional a markets loans and as impacted of and quarter cost XX the lower from between points during seasonality building was the Average pension basis NIM Income the of NIM income over quarter, by NIM fee in to year We infrastructure XX primarily of contracted of performance to increased continue last
X.X% operations. XX.X% on discontinued income income ratios equity decreased method. other net XXXX, through income favorably the the the certain page income income of partly the the Due impacted fact to to as by by the XXX% comparable which year, Starting at other some present driven on the XX% from resulting OCI quarter booked out of income on was recognize page, expenses we administrative one-time $XXX operating grew from attributable second the Cost basis. efficiency we'll quarter other we a portion we as under year-on-year, increase OCI March, XX, Quarterly explained BHI's €X,XXX BHI's first of grew bottom of On expenses Aval’s page the fell billion. to BHI's end of that Cost of mainly net expenses net income to X.X%. that realization that accounts assets described present on of income income from previous the On and approximately by was during personnel in pages. part spin-off. book, X.X% X.X%. of grew spin-off to billion this is of such this carried realization
income for X.X or control pesos includes net X,XXX loss for Finally, net income pesos Aval Attributable times portion first from This XXX on page quarter and XX of reported. quarter billion ratios realization share, per the our XX, and attributable result of we the as BHI. XXXX. the OCI of the approximately result was million present profitability resulting
return average our on for Our XX.X%, average the X.X% respectively. on assets quarter and equity return and were
into Before I summarize guidance general moving for XXXX. our will questions-and-answers, now
commercial and growth XX% loan XX% expect loans area the the with be loans growing to in area area. retail XX% in the in We
cost We to of recoveries risk expect of be our net in the area. X.X%
the slightly range X.X% with a to and NIM expect on to be positive X.X% benefiting X.X%, scenario. in from between We loans rate the interest year rising full NIM effect X.XX% from
to area. We in to cost assets the expect be X.X%
be contribution expect the the to our be at fee relative in XX% We XXX% of to income to and ratio XXX% raised We our XXXX. to our XX% sector expectation non-financial to range.
Finally, reported XX% we year be the to expect our full average area. return equity on in
now questions. We for open are
