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Demand for sovereign bonds returned this week, with a heightened geopolitical risk (following the oil field attack), liquidity stress in the US repo market and central banks easing their rhetoric. In the coming days, markets will turn their attention to the trade deal.
There are 29m Internet users in Colombia, however the use of digital banking is still low but growing. There are access gaps between rural and urban and income levels. In businesses, there is a significant gap in the use of ICTs by the size of the business, smaller business argue they don’t find a benefit in them.
Equity markets increased while bond yields remained broadly steady as several central banks signalled a potential easing if needed, after the Fed cut interest rate by 25bps p to 1.75-2.0%, as expected.
The net profit of the system in the 1Q'19 was EUR 3.2 Bn. The key factors were weak revenues, cost control, and lower provisions. Deleveraging has continued, although since the end of 2018 there has been a slight upturn in total lending. The NPL ratio continues to fall and profitability has improved compared to 1Q'18.