Grupo Aval Acciones Y Valores (AVAL) Company Report

Grupo Aval Acciones y Valores S.A. reported a consolidated attributable net income of Ps 521.0 billion for Q3 2025, representing a 5.3% increase from Q2 2025 and a 25.3% increase from Q3 2024.
The company achieved a Return on Average Equity (ROAE) of 11.5% and a Return on Average Assets (ROAA) of 1.0% for the quarter.
Total assets grew by 7.2% year-over-year to Ps 343,840.8 billion as of September 30, 2025, primarily driven by a 6.1% year-over-year growth in total loans, net.
Gross loans reached Ps 203.4 trillion, an increase of 4.6% compared to Q3 2024, while the ratio of 90 days Past Due Loans (PDLs) to Gross Loans improved to 3.4% in Q3 2025.
Net interest income for Q3 2025 was Ps 1,872.1 billion, an increase of 12.2% compared to Q3 2024, with the consolidated Net Interest Margin (NIM) at 4.35%.

Nov 14, 2025, 9:37 PM

Grupo Aval Announces Corporate Reorganization of Fiduciary Subsidiaries

AVAL

M&A

New Projects/Investments

Grupo Aval Acciones y Valores S.A. announced a corporate reorganization where its fiduciary subsidiaries, Fiduciaria Bogotá S.A., Fiduciaria de Occidente S.A., and Fiduciaria Popular S.A., will spin off their fiduciary business units to Aval Fiduciaria S.A..
This strategic move aims to consolidate fiduciary operations under Aval Fiduciaria to enhance operational capacity, unify management policies, strengthen its equity base, and improve market positioning.
Shareholders of the spun-off companies will receive shares in Aval Fiduciaria based on the exchange ratios provided in the table below.
The transaction is contingent upon approval by the general shareholders' meetings of the participating companies and prior authorization from the Financial Superintendence of Colombia, neither of which has been met as of the notice date.
The book values of the spun-off equity and Aval Fiduciaria's equity as of June 30, 2025, are presented in the table below.

Metric	Exchange Ratio (Shares of Aval Fiduciaria S.A. per share)
Fiduciaria Bogotá S.A.	1.9664
Fiduciaria de Occidente S.A.	1.6213
Fiduciaria Popular S.A.	0.0973

Metric	Q2 2025 (as of June 30, 2025)
Fiduciaria Bogotá S.A. Equity (COP)	91,766,269,898
Fiduciaria de Occidente S.A. Equity (COP)	50,859,704,583
Fiduciaria Popular S.A. Equity (COP)	6,073,224,827
Aval Fiduciaria S.A. Equity (COP)	62,880,734,027