Grupo Aval Acciones y Valores S.A. and Subsidiaries Condensed Consolidated Statement of Financial Position (Amounts expressed in millions of Colombian pesos)
Notes | March 31, 2023 | December 31, 2022 | ||||||
Assets | ||||||||
Cash and cash equivalents | Ps. | 19,327,847 | Ps. | 17,032,857 | ||||
Trading assets | 13,585,464 | 11,841,407 | ||||||
Investment securities | 31,969,074 | 33,674,477 | ||||||
Hedging derivative assets | 4 | 35,108 | 20,854 | |||||
Loans, net | 4 | 179,102,900 | 179,115,847 | |||||
Other accounts receivable, net | 4 | 24,384,493 | 23,380,573 | |||||
Non-current assets held for sale | 100,133 | 92,830 | ||||||
Investments in associates and joint ventures | 6 | 1,191,374 | 1,423,343 | |||||
Tangible assets | 7 | 7,247,770 | 7,235,441 | |||||
Concessions arrangements rights | 8 | 13,536,212 | 13,242,706 | |||||
Goodwill | 9 | 2,232,238 | 2,248,217 | |||||
Other Intangibles | 2,082,686 | 2,040,158 | ||||||
Income tax assets | 3,475,495 | 3,633,876 | ||||||
Other assets | 607,366 | 608,650 | ||||||
Total assets | Ps. | 298,878,160 | Ps. | 295,591,236 | ||||
Liabilities and equity | ||||||||
Liabilities | ||||||||
Trading liabilities | 4 | Ps. | 1,517,550 | Ps. | 1,757,606 | |||
Hedging derivative liabilities | 4 | 5,557 | 3,568 | |||||
Customer deposits | 4 | 178,352,401 | 173,341,149 | |||||
Financial obligations | 4 | 70,038,493 | 72,116,775 | |||||
Provisions | 11 | 1,142,008 | 1,227,171 | |||||
Income tax liabilities | 5,564,170 | 5,291,487 | ||||||
Employee benefits | 12 | 886,891 | 890,019 | |||||
Other liabilities | 13 | 11,144,041 | 10,141,802 | |||||
Total liabilities | Ps. | 268,651,111 | Ps. | 264,769,577 | ||||
Equity | ||||||||
Owners of the parent: | ||||||||
Subscribed and paid-in capital | Ps. | 23,744 | Ps. | 23,744 | ||||
Additional paid-in capital | 9,571,374 | 9,571,374 | ||||||
Retained earnings | 7,428,429 | 8,018,417 | ||||||
Other comprehensive income | (847,847) | (1,146,565) | ||||||
Equity attributable to owners of the parent | 16,175,700 | 16,466,970 | ||||||
Non-controlling interest | 14,051,349 | 14,354,689 | ||||||
Total equity | 30,227,049 | 30,821,659 | ||||||
Total liabilities and equity | Ps. | 298,878,160 | Ps. | 295,591,236 | ||||
The accompanying notes are an integral part of the consolidated financial statements.
Grupo Aval Acciones y Valores S.A. and Subsidiaries
Condensed Consolidated Statement of Income
(Amounts expressed in millions of Colombian pesos)
For the three-months periods | ||||||||
ended March 31, | ||||||||
Notes | 2023 | 2021 | 2022 (1) | |||||
(1) | ||||||||
Continuing operations | ||||||||
Interest income | 4 | Ps. | 7,008,324 | Ps. | 3,759,791 | |||
Interest expense | 4 | (5,459,500) | (1,679,180) | |||||
Net interest income | 1,548,824 | 2,080,611 | ||||||
Net impairment loss on financial assets | (786,489) | (695,422) | ||||||
Net interest income, after impairment losses | 762,335 | 1,385,189 | ||||||
Income from commissions and fees | 1,084,530 | 995,075 | ||||||
Expenses from commissions and fees | (242,227) | (285,037) | ||||||
Net income from commissions and fees | 16 | 842,303 | 710,038 | |||||
Income from sales of goods and services | 2,927,482 | 2,667,889 | ||||||
Costs and expenses of sales goods and services | (1,763,843) | (1,647,296) | ||||||
Net income from sales of goods and services | 16 | 1,163,639 | 1,020,593 | |||||
Net trading loss | 17 | (81,280) | (287,345) | |||||
Net income from other financial instruments mandatorily at fair value through profit or loss | 93,949 | 73,908 | ||||||
Other income | 18 | 875,870 | 793,284 | |||||
Other expenses | 18 | (2,077,011) | (1,679,474) | |||||
Net income before tax expense | 1,579,805 | 2,016,193 | ||||||
Income tax expense | 10 | (532,551) | (632,950) | |||||
Net income from continuing operations | Ps. | 1,047,254 | Ps. | 1,383,243 | ||||
Discontinued operations | ||||||||
Net income from discontinued operations | 1.1. | Ps. | - | Ps. | 1,597,512 | |||
Net income | Ps. | 1,047,254 | Ps. | 2,980,755 | ||||
Net income attributable to owners of the parent | ||||||||
Net income for the period from continuing operations | 425,090 | 631,631 | ||||||
Net income for the period from discontinued operations | 1.1 | - | 1,098,073 | |||||
Owners of the parent | Ps. | 425,090 | Ps. | 1,729,704 | ||||
Net income attributable to non-controlling interests | ||||||||
Net income for the period from continuing operations | 622,164 | 751,612 | ||||||
Net income for the period from discontinued operations | 1.1 | - | 499,439 | |||||
Non-controlling interests | Ps. | 622,164 | Ps. | 1,251,051 | ||||
Net Income | Ps. | 1,047,254 | Ps. | 2,980,755 | ||||
Net income per share basic and diluted (in Colombian pesos) | 14 | Ps. | 17.90 | Ps. | 77.63 | |||
(1) | See note 1.1 "Discontinued operations of BAC Holding". | |||||||
The accompanying notes are an integral part of the consolidated financial statements.
Grupo Aval Acciones y Valores S.A. and Subsidiaries
Condensed Consolidated Statement of Other Comprehensive Income
(Amounts expressed in millions of Colombian pesos)
For the three-months periods | |||||||
ended March 31, | |||||||
Notes | 2023 | 2022 | |||||
Net income | Ps. | 1,047,254 | Ps. | 2,980,755 | |||
Other comprehensive income | |||||||
Items that may be reclassified to profit or loss | |||||||
Net gain (loss) on hedges of net investments in foreign operations | |||||||
Foreign currency translation differences from hedged foreign operations | 5 | (123,149) | (7,505,723) | ||||
Hedging derivative instrument | 5 | 0 | 4,052,710 | ||||
Hedging non-derivative instrument | 5 | 120,238 | 3,157,086 | ||||
Cash flow hedges | (3,114) | (5,702) | |||||
Foreign currency translation differences from unhedged foreign operations | (65,076) | 1,032,865 | |||||
Investments in associates and joint ventures | 594 | (3,531) | |||||
Unrealized (losses) gains on securities at FVOCI | 735,161 | (1,132,971) | |||||
Income tax | (244,939) | (2,377,055) | |||||
Total, items that may be reclassified to profit or loss | Ps. | 419,715 | Ps. | (2,782,321) | |||
Items that will not be reclassified to profit or loss | |||||||
(Losses) unrealized on equity securities at FVOCI | (53,709) | (22,063) | |||||
Actuarial (losses) gains from defined benefit pension plans | (1) | 33,627 | |||||
Income tax | (22) | (10,958) | |||||
Total, items that will not be reclassified to profit or loss | Ps. | (53,732) | Ps. | 606 | |||
Total other comprehensive income, net of taxes | 365,983 | (2,781,715) | |||||
Total comprehensive income | Ps. | 1,413,237 | Ps. | 199,040 | |||
Total comprehensive income for the periods attributable to: | |||||||
Owners of the Group | 723,808 | (140,083) | |||||
Non-controlling interest | 689,429 | 339,123 | |||||
Ps. | 1,413,237 | Ps. | 199,040 | ||||
The accompanying notes are an integral part of the consolidated financial statements.
Grupo Aval Acciones y Valores S.A. and Subsidiaries
Consolidated Statement of Changes in Equity for the three-month periods ended March 31, 2023 and 2022
(Amounts expressed in millions of Colombian pesos)
Subscribed | Additional | Appropriated | Other | Equity attributable to | Non- | Total | |||||||||||||||||||
and paid-in | paid - in | retained | comprehensive | controlling | |||||||||||||||||||||
owners of the parent | equity | ||||||||||||||||||||||||
capital | capital | earnings | income (OCI) | interest (NCI) | |||||||||||||||||||||
Balance at December 31, 2020 | Ps. | 22,281 | Ps. | 8,490,799 | Ps. | 13,383,391 | Ps. | 1,117,182 | Ps. | 23,013,653 | Ps. | 16,457,994 | Ps. | 39,471,647 | |||||||||||
Issuance of shares | |||||||||||||||||||||||||
- | - | - | - | - | 141 | 141 | |||||||||||||||||||
Dividends declared in cash | - | - | - | - | - | (405,501) | (405,501) | ||||||||||||||||||
Spin Off(1) | - | - | (6,638,961) | - | (6,638,961) | (3,019,613) | (9,658,574) | ||||||||||||||||||
Effect of realization of equity instruments(1) | - | - | (5,318) | - | (5,318) | (2,428) | (7,746) | ||||||||||||||||||
Other comprehensive income | - | - | - | (1,869,787) | (1,869,787) | (911,928) | (2,781,715) | ||||||||||||||||||
Withholding Tax over dividends | - | - | 1,006 | - | 1,006 | 566 | 1,572 | ||||||||||||||||||
Net income | - | - | 1,729,704 | - | 1,729,704 | 1,251,051 | 2,980,755 | ||||||||||||||||||
Balance at March 31, 2022 | Ps. | 22,281 | Ps. | 8,490,799 | Ps. | 8,469,822 | Ps. | (752,605) | Ps. | 16,230,297 | Ps. | 13,370,282 | Ps. | 29,600,579 | |||||||||||
Subscribed | Additional | Appropriated | Other | Equity attributable to | Non- | Total | |||||||||||||||||||
and paid-in | paid - in | retained | comprehensive | controlling | |||||||||||||||||||||
owners of the parent | equity | ||||||||||||||||||||||||
capital | capital | earnings | income (OCI) | interest (NCI) | |||||||||||||||||||||
Balance at December 31, 2022 | Ps. | 23,744 | Ps. | 9,571,374 | Ps. | 8,018,417 | Ps. | (1,146,565) Ps. | 16,466,970 | Ps. | 14,354,689 | Ps. 30,821,659 | |||||||||||||
Dividends declared in cash | - | - | (1,025,718) | - | (1,025,718) | (1,014,794) | (2,040,512) | ||||||||||||||||||
Other comprehensive income | - | - | - | 298,718 | 298,718 | 67,265 | 365,983 | ||||||||||||||||||
Withholding Tax over dividends | - | - | 10,640 | - | 10,640 | 22,025 | 32,665 | ||||||||||||||||||
Net income | - | - | 425,090 | - | 425,090 | 622,164 | 1,047,254 | ||||||||||||||||||
Balance at March 31, 2023 | Ps. | 23,744 | Ps. | 9,571,374 | Ps. | 7,428,429 | Ps. | (847,847) | Ps. | 16,175,700 | Ps. | 14,051,349 | Ps. | 30,227,049 | |||||||||||
- See note 1.1 "Discontinued operations of BAC Holding".
The accompanying notes are an integral part of the consolidated financial statements.
Grupo Aval Acciones y Valores S.A. and Subsidiaries
Condensed Consolidated Statement of Cash Flows for the nine-month periods ended March 31, 2023and 2021
(Amounts expressed in millions of Colombian pesos)
… | Notes | . | March 31, 2023 | .. | March 31, 2022 (1) | ||||
Cash flows from operating activities: | |||||||||
Net income before income tax | Ps. | 1,579,805 | Ps. | 2,016,193 | |||||
Reconciliation of net income before taxes and net cash provided by operating activities: | |||||||||
Depreciation and amortization | 16-18 | 279,584 | 263,210 | ||||||
Impairment losses of loans and receivables, net | 4-16 | 935,469 | 813,270 | ||||||
Net income in concession agreements | (1,260,858) | (1,061,120) | |||||||
Net interest income | (1,548,824) | (2,080,611) | |||||||
Sales of non-current assets held for sale, net | 18 | (865) | (3,572) | ||||||
Gain on sales of tangible assets | (5,025) | (9,015) | |||||||
Foreign exchange losses | 18 | (488,545) | (369,186) | ||||||
Share of profit of equity accounted investees, net of tax | 18 | (94,738) | (96,409) | ||||||
Dividends caused | 18 | (119,767) | (106,882) | ||||||
Fair value adjustments on: | |||||||||
Derivatives | 17 | 672,258 | 269,072 | ||||||
Non-current assets held for sale | (142) | 40 | |||||||
Investment property | (47) | (801) | |||||||
Biological assets | (3,156) | (1,624) | |||||||
Changes in operating assets and liabilities: | |||||||||
Derivatives | (804,470) | (121,005) | |||||||
Trading assets | (1,883,400) | 1,122,997 | |||||||
Accounts receivable | (219,249) | 10,221 | |||||||
Other assets | (25,610) | (8,239) | |||||||
Other liabilities and provisions | (654,362) | (1,498,646) | |||||||
Employee benefit | (2,237) | 9,721 | |||||||
Loan portfolio | (1,598,740) | (9,035,473) | |||||||
Customer deposits | 5,553,614 | 6,443,976 | |||||||
Interbank borrowings and overnight funds | (270,635) | 841,853 | |||||||
Borrowings from development entities | 83,547 | (981) | |||||||
Borrowings from banks | (216,821) | 588,455 | |||||||
Interest received | 6,139,939 | 3,355,371 | |||||||
Interest paid | (4,755,112) | (1,571,307) | |||||||
Lease interest | (45,541) | (37,243) | |||||||
Income tax payments | (523,796) | (377,595) | |||||||
Net cash provided (used) by operating activities | Ps. | 722,276 | Ps. | (645,330) | |||||
Cash flows from investing activities: | |||||||||
Purchases of amortized cost financial assets | Ps. | (967,134)Ps. | (814,206) | ||||||
Redemptions of amortized cost financial assets | 1,058,158 | 719,073 | |||||||
Purchases of FVOCI | (5,144,385) | (3,723,789) | |||||||
Proceeds from sales of FVOCI | 7,578,151 | 3,930,005 | |||||||
Acquisition of associates investment and join ventures | - | (2,667) | |||||||
Purchases tangible assets | (89,791) | (57,761) | |||||||
Proceeds from sales of property, plant and equipment | 45,349 | 38,807 | |||||||
Proceeds from sales of non-current assets held for sale | 5,194 | 17,522 | |||||||
Additions of concession arrangement rights | 130,757 | 113,586 | |||||||
Additions of other intangible assets | (115,887) | (86,008) | |||||||
Dividends received | 111,611 | 96,650 | |||||||
(Decrease) to deconsolidation of subsidiaries | - | (17,570,390) | |||||||
Net cash provided (used) in by investing activities | Ps. | 2,612,023 | Ps. | (17,339,178) | |||||
Cash flows from financing activities: | |||||||||
Dividends paid to shareholders | Ps. | (1,475)Ps. | (299,942) | ||||||
Dividends paid to non-controlling interest | (67,965) | (158,848) | |||||||
Issuance of debt securities | 2,571,859 | 521,716 | |||||||
Payment of outstanding debt securities | (3,057,617) | (345,083) | |||||||
Leases | (100,444) | (91,878) | |||||||
Issuance of shares | - | 141 | |||||||
Net cash used by financing activities | Ps. | (655,642)Ps. | (373,894) | ||||||
Effect of foreign currency changes on cash and equivalents | (383,667) | (483,748) | |||||||
Decrease in cash and cash equivalents in joint operations | - | (1,393,602) | |||||||
Increase (decrease) in cash and cash equivalents | 2,294,990 | (20,235,752) | |||||||
Cash and cash equivalents at beginning of period | Ps. | ||||||||
17,032,857 | Ps. | 36,642,829 | |||||||
Cash and cash equivalents at end of period | Ps. | 19,327,847 | Ps. | 16,407,077 | |||||
- See note 1.1 "Discontinued operations of BAC Holding".
The accompanying notes are an integral part of the consolidated financial statements.
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Grupo Aval Acciones y Valores SA published this content on 17 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 May 2023 21:08:03 UTC.