Grupo Cibest S.A.

Good morning, ladies and gentlemen, and welcome to Bank Columbia's first quarter 2025 earnings conference call. My name is Zico, and I will be your operator for today's call. At this time, all participants are going to listen only mode. Following the prepared remarks, there will be a question and answer session. During the question and answer session, if you have a question, please press star, then one on your touchtone phone. Please note that this conference is being recorded. Please note that this conference call will include forward-looking statements, including statements related to our future performance, capital position, credit-related expenses, and credit losses. All forward-looking statements, whether made in this conference call, in future filings, in press releases, or verbally, address matters that involve risk and uncertainty, Consequently, there are factors that could cause actual results to differ materially from those indicated in such statements, including changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products by the other companies, lack of acceptance of new products or services by our targeted clients, changes in business strategy, and various other factors that we describe in our reports filed with the SEC. With us today is Mr. Juan Carlos Mora, Chief Executive Officer, Mr. Mauricio Botero-Wolf, Chief Strategy and Financial Officer, Mrs. Catalina Tobon, Investor Relations and Capital Markets Director, and Mrs. Laura Clavijo, Chief Economist. I will now turn the call over to Mr. Juan Carlos Mora, Chief Executive Officer. Mr. Juan Carlos, you may begin.

Good morning.

Welcome to PAN Colombia's first quarter results call. Please go to slide two. During the first quarter of the year, the Colombian economy experienced some recovery with an increase in investment and domestic demand despite global trade tensions. Inflation rates remained stable for most of the quarter, resulting in unchanged interest rates. Additionally, increased public spending paired with decreased tax collection continue to impact on the fiscal situation. which will be discussed further. I would like to bring attention to some key issues of the quarter. The quarterly net income was 1.7 trillion pesos, reflecting a 4.5 growth both on a quarterly and annual basis. A robust NIM of over 6.4% coupled with strong performance in other income and expenses resulted in an ROE of 16.3%. The loan portfolio decreased slightly this quarter, but grew 7% annually. Deposits fell by 1% in the quarter, yet increased almost 13% annually. demonstrating our ability to secure funding and competition without raising costs. We have achieved positive results in asset quality across the group due to our effective models, technical expertise and precise credit policy. Due to consistently lower delinquency rates across all banks and positive trends in all segments, the cost of risk for the period was 1.6%. Banismo saw a significant drop in provision expenses due to measures taken to reduce loan deterioration. Both 30-day and 90-day consolidated NPL ratios reflect improved performance as we will explain further. Our capital remains strong. with a total solvency ratio of nearly 13% and a core equity tier one ratio of 11%. Following our recent ordinary dividend distribution, we are pleased with shareholders' approval of our evolution into Grupo Citus, allowing us to distribute more volume, including an extraordinary dividend of 624 pesos per share. resulting in a 69 total dividend payout for the year. Since approval, we have been completing legal steps to reorganize the entities under the holding structure with closing expected on May 16th. Changes to Colombian operations will appear in May's financial statements. On August 6th, we will release Group C Second quarter, consolidated results, including a new accounting structure and performance overview of key subsidiaries. This is Bancolombia's last earning call. Future calls will be focused on Grupo Cyber's financial performance. We are planning a share buyback program for approval at an upcoming extraordinary shareholders meeting. We recently transitioned our banking application to MiBank Colombia app, enhancing customer experience and saving AT costs. To date, 8.5 million users have migrated with a 93% activity rate over 30 days. I will now hand over to Laura Clavijo, Chief Economist, for a summary of the macroeconomic landscape. Laura?