for and morning, second our XXXX thank call. joining Good you all quarter conference
always, income operations. pleasure results of year's strong XX. ended quarter's of completed result, the is do that to include spin-off significance on the for results As quarter it our BHI June was this the my quarter, first from at introduce this discontinued the not XX% net Of because financial end of
income. X.X recall, net first As quarter discontinued of may operations in or year, during totaled from trillion the income trillion this Ps. you attributable X.X Ps.
Before overview numbers, scenario, driven followed update provide Diego pandemic of of clients loan our a reliefs, by quick a macro efforts our digital of detailed financial status look provides I an will and our highlights at our few performance. a of Colombia's the
the the gas Let's invasion domestic macroeconomic start rates combined to normalized the savings rest led and disruption fertilizers yet generalized all spending to increasing supply issues supply the which economies and the have because around have of policies global to tighter A of Russian economy have Ukraine, and inflation inflationary COVID with pressures, facing exacerbate China's the consumer chain, pandemic the interest world. policies to a slowed world to A be down scenario. of Undoubtedly, of in is pressures. sustained worldwide. Europe supply monetary
April, the of X.X%, now down for XXXX China Colombian of now, IMF and Eurozone. expected solid the global contrast, the by post-pandemic the the estimates USA, driven in the economies, continued growth largest with result, economy in its growth three X.X% the a for In mainly As from GDP slowdown rebound.
of to grew Growth now more seasonally fall the in updated to with basis. X.XX% GDP growth a suggests data GDP because the of a that GDP during recall, to on compared we Recent as adjusted year-ago. marked during will the boosted and exceed XX% Colombia's estimate second throughout the and a due quarter X.X% when base upwards Accordingly, quarter effect fact, consumption market X.XX% second quarter, In our you economy on and protests by line effect of was first country. quarter a between private with Colombian X.X% negative XXXX consensus. or same the growth social may the have was expected
the unemployment the XX.X% fell rate of Regarding to market, as June. labor
the The In been national pandemic were XX.X% to the by fact, jobs transportation quarter, agriculture, all unemployment and all second have the of a commerce first the average XX.X% recovered. to sectors. recovered earlier, urban XX% at jobs well year in level, lost entertainment, compared rate jobs the due was XX% enhanced during quarter the during and
in XX.X% average in XX% down area expect in XXXX decline numbers, further rate the unemployment XX.X% and in XXXX. the and XX.X% additional We in an to gains a to payroll annual from
has of the Bank and after points last number. finally hike the expected, in prices, years. big meeting rising for the a a The a September, consumer rent increase inflation, accelerate, real during of If the repo reach expectations in at inflation one Inflation after hike accounts could XX X.X% pushed been which reaching XX XXX the X.X% in rate with exception, utilities believe the XX% positive Food XX by of main inflation, is couple of strong is which approximately basis X% the to one by reaching forecast inflation in interest July, XX% demand, we of its as XX.X% the tightening inflation market close of year's and rule figure rate don't the currently another of this bring is which in XXXX. continues XX to We certainly not XXX anticipate July, additional year-end inflation, month XXXX. end in Colombia rates drivers out that for home are month for approximately basis months years. Central accounts last inflation highest behaves So the XX.X% end. continue at points influencer the domestic continued context, In should to be inflation of inflation of XX%. of at X.X% consensus we to possibility cycle
the exchange we Ps. expect XXXX an from during policy devaluation Ps. depreciated to in around or of but Regarding has dollar of as dollar towards second outflow approximately which the the the recently eventual and as economies. general, Colombia's to a Colombia of tighter per of and currency which a respond on prospects In the XX% X,XXX trade very during price quarter, Peso XXX much capital X%. to appreciated hard the rate the the U.S. deficit monetary dependent Peso of to oil is equates with
However for dollar the we per Ps. stability expect now, of Peso X,XXX the area. as
X.X% On the fiscal improvement rebound, deficit strong front, and and very the positive the the XXXX tax prices oil higher of reflecting effects X.X% in GDP government recorded XXXX the expects a X.X% revenues. of forecasted, in the initially versus economic positive now an of
XX% of ratio XXXX. tax starting tax reforms. June been scenario XX.X% to social XXXX. pension, expand June reforms we're GDP, known and down a Congress, much public to but announced, by by presented bill new XX.X% fiscal the whose fact, including Colombia's environmental, In net of government to debt. Several low to which to revenue increase in well trillion health revenues could to analyze, is end Ps. at to grew other as public year-end tax X, from programs new objective XX This and just as energy, a a contribute improved reduce have debt On August compared
Moving on.
amounted Banco and active amounted de X% loan in local of reliefs the of in to active of Panama total Colombia approximately loan consolidated to approximately debt us portfolio. X% portfolio As reliefs in multibank, consolidated bank Bogota's June, debt
Our are past X% move strategy. XX XX gold due days noteworthy relief These loans or more. past some days periods X.X% numbers are due more, or that to less regarding digital. I'll our have concluded than on are the and
First, banks million June. the at of at active approximately remain a digital $X lot end of clients
a wallet end totaled grow the million significantly Additionally, has approximately half clients to our of digital and by started of June. [indiscernible]
of sold banks an in versus XX% half digital in products first half first over increase XXXX. the the year, the million X of Our
and XX%. digital XX%. of our share personal reached banking Our banking total mobile continues platforms apps Digital around adoption
adoption in We by mobility to digital ecosystem a our the Xx year by quarter. increased expect first career XX% end. Disbursements initiative have through
qualified digital alliance with the leads our and improved the our to in ad client and and our costs. ecosystem the banks marketing In we reduce materially through quarter. career ads, for our the companies have doubled material the Additionally, Allianz. programmatic credit platform Campaigns banks global disbursements of targeting during our acquisition leads XX% insurance launched digital conducted through June, insurance over amount rate quarter, conversion increased the
for Finally, digital the row as second by lab financial to innovative we're proud quarter to our a the year detail in the performance during finish To of minute finance. that XXXX. will in was with refer that global bunker recognized a -- in second a best announce level Diego
the However, following. would highlight I
performance. entire very contribution its Colombian In the BHI continues I'm out from wings. quarters the our International first The do to subsidiaries new without second a its quarter adjusted sure thrilled quarter shareholders previous sector to are to registered non-financial under and BHI. Back our remarkable Holding or meantime, strip the marked compared quarter with banks BHI well when
basis, Aval first fact, cost a credit net risk. of delivered In a quality quarter notably higher on quarter the comparable with of and XXXX than and income better X% attributable
to Additionally, operating priority execution cost for as digital strategies. payment continues well as list, high and the control on be very innovation our our
the We to rates of remain this portfolios our our variable banks in especially which subsidiaries. in expand loans. have loans continues rate of the that loan consumer rise our pay continued commercial loans. rate effect with composed mostly banks for expected, rising As Obviously, scenario, interest their both rising are to banks, of two interest contract with interest loans mostly to been rate continue could non-financial loans Well, ability customers, to funds in with obligations. margins for customers loan those tend and very fixed vigilant portfolios turn largest of cost with in margins our
now, with what For we are we're seeing. satisfied
rate fund pension and premium the rise derived mortality, from manager the higher have pandemic to its volatility our insurance fixed also increase seen suffered rates. portfolios costs Finally, due interest in premium, has its
Therefore, will to expect the policy continue it highlighted, we not tighten the on direction, dent that but economy in makes to As a started right we continues subside. move inflation. until monetary to inflation has
for calls quarterly future chapters will see we effects. to consequences to country's on the solution believe of And strongly that yet now this global of approaching those the detail I to explain your But ultimately, you have on pass without believe analyze final a contain all the we our the and await global resilience. to consequences much. front, I restoration gas presentation we winter reforms in you continue European thank attention. will debacle over closely the the very and and our businesses. Diego foreign full the the will the financial who Locally, Thank quantifying results. focusing on domestic in I'll Importantly, announced supply fast chain.
