$AVAL

Grupo Aval Acciones Y Valores S.A.

CIK:0001504764|SEC Filings

Consolidated Statements of Income - COP ($) $ in Millions	12 Months Ended
Consolidated Statements of Income - COP ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Interest income calculated using the effective interest method
Loan portfolio	$ 22,463,395	$ 23,740,386	$ 24,427,394
Cash and cash equivalents and other accounts receivable	505,965	626,827	926,083
Investments in debt securities	2,949,838	2,604,689	2,298,222
Total interest income	25,919,198	26,971,902	27,651,699
Interest expense
Deposits	(13,089,554)	(14,613,237)	(15,711,661)
Financial obligations	(4,958,313)	(5,431,254)	(6,044,788)
Total interest expense	(18,047,867)	(20,044,491)	(21,756,449)
Net interest income	7,871,331	6,927,411	5,895,250
Impairment losses net of recoveries
Loans and other accounts receivable	(4,268,227)	(4,615,595)	(4,596,012)
Other financial assets	(6,928)	(4,988)	10,759
Recovery of charged-off financial assets	736,255	574,260	555,774
Impairment losses net of recoveries	(3,538,900)	(4,046,323)	(4,029,479)
Net interest income, after impairment losses	4,332,431	2,881,088	1,865,771
Income from commissions and fees	4,784,225	4,477,604	4,215,764
Expenses from commissions and fees	(1,124,180)	(1,001,625)	(974,250)
Net income from commissions and fees	3,660,045	3,475,979	3,241,514
Income from sales of goods and services	10,396,794	11,048,600	11,223,556
Costs and expenses of sales goods and services	(8,309,074)	(8,571,245)	(8,005,597)
Gross profit from sales of goods and services	2,087,720	2,477,355	3,217,959
Net trading income (loss)	1,402,013	1,401,734	(919,165)
Net income from other financial instruments mandatorily at fair value through profit or loss	623,163	350,919	323,685
Other income	1,415,753	646,177	3,568,825
Other expenses	(8,899,891)	(8,125,461)	(7,875,408)
Net income before tax expense	4,621,234	3,107,791	3,423,181
Income tax expense	(1,432,708)	(941,978)	(1,309,073)
Net income from continuing operations	3,188,526	2,165,813	2,114,108
Net income from discontinued operations, net of tax	26,646	25,664	63,008
Net income for the year	3,215,172	2,191,477	2,177,116
Net income attributable to owners of the parent
Net income for the period from continuing operations	1,703,506	997,398	695,574
Net income for the period from discontinued operations	18,366	17,689	43,429
Owners of the parent	1,721,872	1,015,087	739,003
Net income attributable to non-controlling interests
Net income for the period from continuing operations	1,485,020	1,168,415	1,418,534
Net income for the period from discontinued operations	8,280	7,975	19,579
Non-controlling interests	1,493,300	1,176,390	1,438,113
Net income for the year	$ 3,215,172	$ 2,191,477	$ 2,177,116
Net income per share basic (in Colombian pesos) see note 25	$ 72.52	$ 42.75	$ 31.12
Net income per share diluted (in Colombian pesos) see note 25	$ 72.52	$ 42.75	$ 31.12

Consolidated Statements of Cash Flows - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income before income tax of continuing operations	$ 4,621,234	$ 3,107,791	$ 3,423,181
Reconciliation of net income before taxes and net cash provided by operating activities
Depreciation of tangible assets and right-of-use assets	597,897	561,845	531,401
Amortization of intangible assets	767,850	674,335	579,967
Impairment losses on loans and other accounts receivable	4,324,724	4,686,752	4,647,047
Net interest income	(7,871,331)	(6,927,411)	(5,895,250)
Accrued dividends	(126,700)	(141,867)	(119,988)
Net gains on sales of non-current assets held for sale	(9,945)	(18,107)	(45,624)
Gain on sale of property plant and equipment for own-use and operating lease	(131,863)	(75,275)	(345,330)
Loss on sale of investment property	28,392	14,398	22,177
Gain on sale biological assets	(5,152)	(9,377)	(10,467)
Valuations and interest from concession agreements	(2,807,293)	(2,850,244)	(3,916,465)
Foreign exchange (gains) losses	(584,990)	452,635	(2,253,880)
Profit of equity accounted on investments in associates and joint ventures	(350,935)	(378,396)	(371,397)
Net (gains) or losses on fair value adjustments:
Derivatives	257,762	(415,640)	2,581,265
Non-current assets held for sale	1,622	4,662	70
Investment properties	(68,306)	(36,705)	(92,607)
Biological assets	(3,396)	(7,589)	(18,601)
Changes in operating assets and liabilities
Trading assets	(6,792,442)	(5,570,819)	(2,778,438)
Accounts receivable	(892,411)	(792,468)	(1,152,043)
Derivatives	(550,854)	238,494	(2,091,188)
Other assets	(6,697)	(137,978)	(101,390)
Other liabilities and provisions	2,732,480	1,096,914	1,477,567
Employee benefits	(12,865)	51,048	(19,461)
Loans	(17,695,997)	(13,161,784)	(7,710,154)
Customer deposits	24,820,228	14,344,651	14,085,593
Interbank borrowings and overnight funds	4,927,947	2,766,952	6,221,968
Borrowings from banks and others	931,791	(1,019,921)	(799,439)
Interest received	23,419,517	26,797,798	24,853,524
Interest paid	(17,720,295)	(20,488,941)	(20,636,834)
Interest paid on leases	(237,774)	(236,451)	(198,436)
Income tax paid	(2,163,430)	(1,998,655)	(1,967,389)
Discontinued operation	(2,013,798)	251,642	(1,893,878)
Net cash provided by operating activities	7,384,970	782,289	6,005,501
Cash flows from investing activities:
Acquisition of property, plant and equipment for own use and operating lease	(602,321)	(623,876)	(579,583)
Acquisition of investment property	(8,263)	(793)	(163)
Additions of cost of biological assets	(27,222)	(26,572)	(26,118)
Concession contracts	158,772	305,686	853,778
Additions of others intangibles assets	(660,286)	(652,681)	(676,765)
Acquisition of investments at FVOCI	(17,451,317)	(14,655,069)	(23,754,394)
Proceeds from sale of investments at FVOCI	13,675,934	11,643,956	24,824,898
Proceeds from sale of own-use property and equipment and operating lease	152,445	76,963	68,523
Proceeds from sale of investment properties	207,927	66,358	111,542
Proceeds from sale of biological assets	38,700	35,871	37,144
Proceeds from sale of non-current assets held for sale	75,178	37,856	49,369
Purchases of financial assets at amortized cost	(7,015,566)	(7,801,052)	(8,009,518)
Redemptions of financial assets at amortized cost	8,685,569	8,217,845	8,144,359
Dividends received from investments	444,386	439,017	471,282
Acquisition of investments in associates		(2,486)	(2,433)
Capitalized leasing cost	(282)	(335)	(132)
Deconsolidation of entities			(2,290)
Discontinued operation	895,588	(202,561)	331,148
Net cash (used in) provided by investing activities	(1,430,758)	(3,141,873)	1,840,647
Cash flows from financing activities:
Dividends paid to shareholders	(625,826)	(728,181)	(766,537)
Dividends paid to non-controlling interest	(662,266)	(667,330)	(915,933)
Issuance of debt securities	528,863	2,224,164	1,111,819
Payment of outstanding debt securities	(1,513,644)	(1,725,323)	(3,934,469)
Payment of obligations under financial lease	(429,493)	(409,118)	(384,499)
Equity transaction	(6)	(55,000)
Discontinued operation	37,780	(2,223)	1,352,734
Net cash used in financing activities	(2,664,592)	(1,363,011)	(3,536,885)
Effect of foreign currency changes on cash and cash equivalents	(1,334,867)	2,123,593	(2,744,460)
Cash and cash equivalents from non-current assets classified as held for sale	401,098		201
Increase (decrease) in cash and cash equivalents from continuing operations	2,355,851	(1,599,002)	1,565,004
Cash and cash equivalents at beginning of year	16,998,859	18,597,861	17,032,857
Cash and cash equivalents at end of year	$ 19,354,710	$ 16,998,859	$ 18,597,861

Consolidated Statements of Financial Position - COP ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	$ 19,354,710	$ 16,998,859
Trading assets	29,097,591	20,163,214
Investment securities	39,252,615	39,162,618
Hedging derivative assets	236,558	54,019
Loans
Commercial	108,308,984	115,414,643
Interbank and overnight funds	1,777,516	705,055
Commercial, interbank and overnight funds	110,086,500	116,119,698
Consumer	60,456,213	61,976,325
Mortgages	22,111,710	22,035,727
Microcredit	1,520	4,375
Total loans, gross	192,655,943	200,136,125
Loss allowance	(8,429,970)	(10,006,639)
Total loans, net	184,225,973	190,129,486
Other accounts receivable, net	24,458,906	27,958,402
Non-current assets held for sale	18,256,613	105,214
Investments in associates and joint ventures	1,314,429	1,430,596
Tangible assets
Property, plant and equipment for own-use and given in operating lease, net	7,007,876	4,680,543
Right-of-use assets	1,482,036	1,351,624
Investment properties	882,979	972,935
Biological assets	235,409	238,339
Total Tangible assets	9,608,300	7,243,441
Intangibles
Concession arrangement rights	13,495,108	14,314,560
Goodwill	2,057,116	2,223,608
Other intangible assets	2,954,167	2,758,318
Total Intangibles	18,506,391	19,296,486
Income tax assets
Current	2,871,411	3,149,902
Deferred	1,366,820	1,628,201
Total Income tax assets	4,238,231	4,778,103
Other assets	386,360	538,945
Total assets	348,936,677	327,859,383
Liabilities
Trading liabilities	1,951,439	1,011,934
Hedging derivative liabilities	34,842	21,658
Customer deposits
Checking accounts	23,598,235	24,579,536
Savings accounts	88,238,541	79,614,904
Time deposits	95,105,917	96,329,827
Other deposits	462,545	347,910
Total Customers deposits	207,405,238	200,872,177
Financial obligations
Interbank borrowings and overnight funds	22,655,425	18,509,769
Borrowings from banks and others	24,559,175	28,098,159
Bonds issued	21,456,986	26,215,847
Total financial obligations	68,671,586	72,823,775
Provisions
Legal related	155,378	192,526
Non legal related	834,219	910,145
Total Provisions	989,597	1,102,671
Income tax liabilities
Current	203,908	247,502
Deferred	5,958,848	5,616,464
Total Income tax liabilities	6,162,756	5,863,966
Employee benefits	987,752	1,003,303
Liabilities directly associated with non-current assets classified as held for sale	16,459,367
Other liabilities	11,531,259	11,996,981
Total liabilities	314,193,836	294,696,465
Equity
Subscribed and paid-in capital	23,744	23,744
Additional paid-in capital	9,502,957	9,508,062
Retained earnings	9,241,357	8,163,434
Other comprehensive income	(322,153)	(243,983)
Equity attributable to owners of the parent	18,445,905	17,451,257
Non-controlling interests	16,296,936	15,711,661
Total equity	34,742,841	33,162,918
Total liabilities and equity	$ 348,936,677	$ 327,859,383