Banco Davivienda (PFDAVVNDA) Q4 2025 earnings summary

Executive summary

• The integration of Scotiabank/BNS operations in Colombia, Costa Rica, and Panama in 2025 formed Davivienda Group, expanding regional scale, with total assets reaching $59.8 billion (COP 224.5 trillion), up 17.3% year-over-year, and serving over 26 million customers across six countries.

• The integration resulted in a 35% increase in assets and liabilities, 26% increase in equity, and Davivienda Group consolidated 98.9% ownership after a 95.5% share issuance acceptance.

• Net profit for 2025 was COP 1.61 trillion ($398.6 million), with ROE/ROAE at 9.58%, and DaviPlata, the digital neobank, reached 19.4 million customers and $382.2 million in deposits.

• Scotiabank received a 20.3% stake in Davivienda Group, and the transaction increased shareholder equity value by about 10%.

• DaviPlata consolidated as a neobank, with significant growth in loan portfolio and digital adoption.

Financial highlights

• Gross loans reached COP 170.8 trillion ($45.5 billion), up 17.4% year-over-year, with commercial, consumer, and mortgage loans all showing double-digit growth.

• Net profit for 4Q25 was COP 517 billion ($128 million), up 38.3% quarter-over-quarter and over 100% year-over-year.

• NIM (including FX and derivatives) was 5.74% for the year and 4.66% for 4Q25; cost of risk improved to 1.94% for 2025.

• Cost-to-income ratio remained stable at 54.7%–56.5%.

• DaviPlata’s credit portfolio grew 900.6% year-over-year, with platform revenues at COP 205 billion and transaction volumes up 21%.

Outlook and guidance

• For 2026, gross loan portfolio expected to grow 8–10%, with commercial lending up 9.5–11.5%, and consumer/mortgage up 6–8%.

• NIM guidance is 5.7–6%, cost of risk 2.1–2.3%, non-financial income growth 8–10%, and cost-to-income ratio around 55%.

• ROE guidance for 2026 is 8–10%, incorporating a 130 bps impact from a new wealth tax.

• Focus on operational integration, digital transformation, and sustainable finance, targeting $29.3 billion in sustainable portfolio by 2030.

• DaviPlata aims to deepen profitability through lending and increase engagement among younger segments.