Announcement • Aug 07
Grupo Cibest S.A. (BVC:CIBEST) acquired AVISTA COLOMBIA S.A.S. Grupo Cibest S.A. (BVC:CIBEST) acquired AVISTA COLOMBIA S.A.S. on August 3, 2026. Despite the acquisition, Avista Colombia will continue to operate as an independent entity, retaining its established brand and business strategy.
Grupo Cibest S.A. (BVC:CIBEST) completed the acquisition of AVISTA COLOMBIA S.A.S. on August 3, 2026. Announcement • Jul 22
Grupo Cibest S.A. to Report Q3, 2026 Results on Nov 10, 2026 Grupo Cibest S.A. announced that they will report Q3, 2026 results on Nov 10, 2026 Announcement • Jul 16
Grupo Cibest S.A. to Report Q2, 2026 Results on Aug 10, 2026 Grupo Cibest S.A. announced that they will report Q2, 2026 results After-Market on Aug 10, 2026 Announcement • Jul 02
Banco La Hipotecaria, S.A. completed the acquisition of Banistmo S.A. from Grupo Cibest S.A. (BVC:CIBEST). Banco La Hipotecaria, S.A. entered into an agreement to acquire Banistmo S.A. from Grupo Cibest S.A. (BVC:CIBEST) for $1.42 billion on December 18, 2025. The agreed sale price is $1.418 billion, representing a Price/Earnings ratio for the last twelve months as of September 30, 2025 of 17.1x and a Price/Book Value ratio of 1.2x. The purchase price will be subject to customary closing adjustments.
The purchase price will be paid in full on the closing date of the transaction, once the required regulatory approvals in Panama are obtained other customary conditions under the SPA are satisfied.
J.P. Morgan Securities LLC acted as financial advisor for Grupo Cibest S.A. Sullivan & Cromwell LLP acted as legal advisor for Grupo Cibest S.A. Alemán Cordero Galindo & Lee acted as legal advisor for Grupo Cibest S.A. Roberto Vidal, Ana Carolina Castillo and Sophia Lee of Morgan & Morgan Group acted as legal advisor for Inversiones Cuscatlán Centroamerica S.A. Francisco Nuñez, Marcelo Mottesi, Gonzalo Guitart, Scott Golenbock, John Garces, Max Goodman, Bijan Ganji and Pinky Mehta of Milbank LLP acted as legal advisor for Inversiones Cuscatlán Centroamerica S.A.
Banco La Hipotecaria, S.A. completed the acquisition of Banistmo S.A. from Grupo Cibest S.A. (BVC:CIBEST) on June 30, 2026. The transaction price was paid with funds from La Hipotecaria and an international syndicated loan. Announcement • Feb 27
Grupo Cibest S.A., Annual General Meeting, Mar 24, 2026 Grupo Cibest S.A., Annual General Meeting, Mar 24, 2026, at 10:00 SA Pacific Standard Time. Location: el hotel intercontinental, la calle 16 no 28 51 km 5 via las palmas, medellin Colombia Announcement • Feb 25
Grupo Cibest S.A. Proposes Dividend Distribution, Payable on April 1, July 1, October 1, and December 29, 2026 Respectively Grupo Cibest S.A. decided to submit for consideration by the shareholders, at the next Ordinary General Shareholders´ Meeting to be held in the month of March, the profit distribution proposal described below: (iii)The partial release of the excess of the legal reserve in the amount of COP 3,134,348,298,483.70, and the partial release of the occasional reserve in the amount of COP 1,166,556,265,484.30, for allocation to the payment of dividends. (iiii)The payment of an annual dividend of COP 4.512 per share, payable in four quarterly installments of COP 1.128 per share, on the following dates: April 1, July 1, October 1, and December 29, 2026. (iiiii)The establishment of a specific reserve (reserva ocasional) for equity strengthening and future distributions in the amount of COP 3,760,982,548,143.31. Announcement • Jan 22
Grupo Cibest S.A. to Report Q4, 2025 Results on Feb 23, 2026 Grupo Cibest S.A. announced that they will report Q4, 2025 results at 3:55 PM, SA Pacific Standard Time on Feb 23, 2026 Announcement • Dec 19
Inversiones Cuscatlán Centroamerica S.A. entered into a promise to purchase shares agreement to acquire Banistmo S.A. from Grupo Cibest S.A. (BVC:CIBEST) for $1.42 billion. Inversiones Cuscatlán Centroamerica S.A. entered into a promise to purchase shares agreement to acquire Banistmo S.A. from Grupo Cibest S.A. (BVC:CIBEST) for $1.42 billion on December 18, 2025. The agreed sale price is $1.418 billion, representing a Price/Earnings ratio for the last twelve months as of September 30, 2025 of 17.1x and a Price/Book Value ratio of 1.2x. The purchase price will be subject to customary closing adjustments.
The purchase price will be paid in full on the closing date of the transaction, once the required regulatory approvals in Panama are obtained other customary conditions under the SPA are satisfied.
J.P. Morgan Securities LLC acted as financial advisor for Grupo Cibest S.A. Sullivan & Cromwell LLP acted as legal advisor for Grupo Cibest S.A. Alemán Cordero Galindo & Lee acted as legal advisor for Grupo Cibest S.A. Announcement • Nov 08
Grupo Cibest S.A. (BVC:CIBEST) commences an Equity Buyback Plan, under the authorization approved on June 9, 2025. Grupo Cibest S.A. (BVC:CIBEST) commences share repurchases on July 17, 2025, under the program mandated by the shareholders in the Annual General Meeting held on June 9, 2025. As per the mandate, the company is authorized to repurchase COP 1,350,000 million worth of it's common shares, preferred shares or American Depositary Receipts. The repurchase authorization is valid for 1 year. Announcement • Jun 19
Grupo Cibest S.A Elects Luis Fernando Restrepo Echavarría as Chairman of the Board of Directors and Ricardo Jaramillo Mejía as Vice Chairman Grupo Cibest S. A announced that its Board of Directors has elected Luis Fernando Restrepo Echavarría as Chairman of the Board of Directors, and Ricardo Jaramillo Mejía as Vice Chairman. In addition, it has appointed the members of the Support Committees of the Board of Directors, which are composed as follows: Good Governance Committee: Luis Fernando Restrepo Echavarría, Sylvia Escovar Gómez, Silvina Vatnick. Risk Committee is Andrés Felipe Mejía Cardona, Silvina Vatnick, Juan Esteban Toro Valencia. Audit Committe is Silvina Vatnick, Andrés Felipe Mejía Cardona, Nicolás Zapata Zuluaga. Designation, Compensation and Development Committee is Sylvia Escovar Gómez, Luis Fernando Restrepo Echavarría, Ricardo Jaramillo Mejía. Announcement • Jun 11
Grupo Cibest S.A. Announces Board Appointments, Effective June 9, 2025 Grupo Cibest S.A. announced that on June 9, 2025 in the Extraordinary General Shareholders’ Meeting, the following members of the Board of Directors were appointed for the period June 2025 – March 2027, with the required majority: Andrés Felipe Mejía Cardona; Nicolás Zapata Zuluaga; Silvina Vatnick; Sylvia Escovar Gómez. The new Directors will begin their duties as of June 9, 2025. Announcement • Mar 16
Bancolombia S.A. Approves Payment of Annual Dividend, Payable on April 1, 2025 Bancolombia S.A. at its ordinary meeting of the Shareholders' Meeting, approved payment of an annual dividend of COP 3,900 per share, payable in one installment on April 1, 2025. End of ex-dividend period is March 26, 2025. Announcement • Feb 20
Bancolombia S.A., Annual General Meeting, Mar 14, 2025 Bancolombia S.A., Annual General Meeting, Mar 14, 2025, at 10:00 SA Pacific Standard Time. Location: intercontinental hotel, street 16 no 28 51, km 5 via las palmas, medellin Colombia Announcement • Sep 25
Bancolombia S.A. Announces Board Changes The Board of Directors of Bancolombia S.A. appointed Ricardo Jaramillo Mejía, non-independent director, as Vice-Chairman. The Board also authorized the composition of the Committees, which will remain the same, except for the Designation, Compensation and Development Committee. Good Governance Committee: luis fernando restrepo echavarría, independent director; sylvia escovar gómez, independent director; arturo condo tamayo, independent director. Luis Fernando Restrepo remains as President of the Good Governance Committee. Risk Committee: andrés felipe mejía cardona, independent director; silvina vatnick, independent director; juan david escobar franco, non-independent director. ?Andrés Felipe Mejía remains as President of the Risk Committee. Audit Committee: arturo condo tamayo, independent director; andrés felipe mejía cardona, independent director; silvina vatnick, independent director. ? Arturo Condo remains as President of the Audit Committee. ? Designation, Compensation and Development Committee: sylvia escovar gómez, independent director; luis fernando restrepo echavarría, independent director; ricardo jaramillo mejía, non-independent director (new member). Sylvia Escovar Gómez remains as President of the Designation, Compensation and Development Committee. Additionally, the Board of Directors authorized the creation and composition of the new Technology and Cybersecurity Committee, as follows: andrés felipe mejía cardona, independent director; silvina vatnick, independent director; arturo condo tamayo, independent director; juan david escobar franco, non-independent director. Silvina Vatnick will be the President of the Technology and Cybersecurity Committee. Announcement • Mar 18
Bancolombia S.A.(BVC:BCOLOMBIA) dropped from FTSE All-World Index (USD) Bancolombia S.A.(BVC:BCOLOMBIA) dropped from FTSE All-World Index (USD) New Risk • Jun 12
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 81% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. High level of non-cash earnings (81% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change). Announcement • Jan 26
Bancolombia S.A., Annual General Meeting, Mar 17, 2023 Bancolombia S.A., Annual General Meeting, Mar 17, 2023. 
