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ANALYSIS OF OPERATING SEGMENTS | 12 Months Ended
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Dec. 31, 2023
Disclosure of operating segments [abstract] |
ANALYSIS OF OPERATING SEGMENTS | NOTE 31 – ANALYSIS OF OPERATING SEGMENTS Operating segments are components of Grupo Aval responsible for developing commercial activities that can generate revenue or incur expenses and whose operating profit or loss are regularly reviewed by the chief operating decision maker (“CODM”) of Grupo Aval, and for which financial information is available. Operating segment information is consistent with the internal reports provided to the CODM. ​ 31.1 Description of products and services from which each reportable segment derives its income As a result of the organizational changes made during the last year, the allocation of the segments for December 31, 2023 changed with respect to what was revealed in previous periods, going from a scheme of consolidated entities (8 segments) to groups of entities with homogeneous businesses (4 segments). The types of business that comprise the new segments are detailed below: ​
| – | The “Banking Services” segment comprises the following businesses: Banking Services, fund management and trust businesses, storage companies and entities that manage low-value payment systems.
| – | The “Merchant Banking” segment comprises the following businesses: Financial Sector (trust and brokerage), Gas and Energy Sector (includes natural gas and energy transportation and distribution businesses), Infrastructure Sector (includes road infrastructure projects, mainly construction services, and operation and maintenance), Hotel Sector (mainly includes hospitality services), Agribusiness Sector (mainly includes palm oil, rubber and rice businesses).
| – | "Pension and Severance Fund Management" segment.
| – | “Holding” segment, which is made up of Grupo Aval (Separate Financial Statement) and Grupo Aval Limited.
​ For comparative purposes, information from previous periods including this modification is being presented, in accordance with the requirements of IFRS 8 Operating Segments. ​ 31.2 Factors used by management to identify reportable segments Operating segments identified above are based on the relevance of factors such as (i) the nature of the products and services provided and (ii) the geographical locations. Information regarding the performance of operating segments is reviewed by the CODM on a quarterly basis. ​ With respect to the previous period and as required by IFRS 8 "Operating Segments", the reported figures have been modified to be consistent with 2023. ​ 31.3 Measurement of net income, assets and liabilities of operating segments Grupo Aval’s CODM reviews the financial information of each of its operating segments and assesses the performance of each segment based on Statements of Financial Position and the Statement of Income of each of them, and on certain credit risk indicators, as described in note 2.4. ​ 31.4 Information on net income, assets and liabilities of reportable operating segments The following is the detail of the reportable financial information summarized for each segment as of December 31, 2023, 2022 and 2021: ​ Statement of Financial Position ​ December 31, 2023 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Banking Services | ​ | Merchant Banking | ​ | Pension and Severance Fund Management | ​ | Holding (1) | ​ | Eliminations | ​ | Total
Assets |  | ​ |  |  |  | ​ |  |  |  |  |  | ​
Trading assets | Ps. | 8,987,130 | Ps. | 4,339,052 | Ps. | 2,197,618 | Ps. | 256 | Ps. | (72,935) | Ps. | 15,451,121
Investment securities (2) |  | 28,140,335 |  | 4,323,998 |  | 470,474 |  | 2,359,521 |  | (868,635) |  | 34,425,693
Hedging derivatives assets |  | 47,975 |  | 687 |  | — |  | — |  | — |  | 48,662
Investments in associates and joint ventures |  | 11,825,193 |  | 997,597 |  | — |  | 19,060,746 |  | (30,592,853) |  | 1,290,683
Loans, net |  | 174,849,356 |  | 2,660,449 |  | — |  | 1,239,785 |  | (2,581,535) |  | 176,168,055
Other assets (3) |  | 30,346,277 |  | 44,959,411 |  | 903,887 |  | 411,537 |  | (2,823,730) |  | 73,797,382
Total assets | Ps. | 254,196,266 | Ps. | 57,281,194 | Ps. | 3,571,979 | Ps. | 23,071,845 | Ps. | (36,939,688) | Ps. | 301,181,596
Liabilities |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Customer deposits |  | 177,750,657 | ​ | 8,169,647 | ​ | 1,287 | ​ | — | ​ | (3,934,195) |  | 181,987,396
Financial obligations |  | 41,562,702 | ​ | 21,455,386 | ​ | 97,565 | ​ | 5,512,298 | ​ | (3,086,612) |  | 65,541,339
Other liabilities (4) |  | 9,258,820 | ​ | 12,134,042 | ​ | 601,505 | ​ | 382,088 | ​ | (244,010) |  | 22,132,445
Total liabilities | Ps. | 228,572,179 | Ps. | 41,759,075 | Ps. | 700,357 | Ps. | 5,894,386 | Ps. | (7,264,817) | Ps. | 269,661,180
​
(1) | Includes Grupo Aval (Separate Financial Statement) and Grupo Aval Limited.
(2) | The balance in segment Holding corresponds to a bond issued by BAC International Bank Incorporated acquired by Grupo Aval Limited.
(3) | Includes cash and cash equivalents for Ps. 18,597,861; intangible assets Ps. 18,141,916; other accounts receivable Ps. 25,617,225, tangible assets Ps. 6,995,890; income tax assets Ps. 3,877,749; non-current assets held for sale Ps. 101,184 and other assets Ps. 465,557.
(4) | Includes trading liabilities Ps. 2,154,361; hedging derivative liabilities Ps. 217,566; income tax liabilities Ps. 5,814,987; employee benefits Ps. 907,808; provisions Ps. 1,083,283 and other liabilities Ps. 11,954,440.
​ ​ ​ Statement of income for 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Banking Services | ​ | Merchant Banking | ​ | Pension and Severance Fund Management | ​ | Holding (1) | ​ | Eliminations | ​ | Total
External income |  | ​ |  |  |  | ​ |  |  |  |  |  | ​
Interest income | Ps. | 27,293,337 | Ps. | 1,149,086 | Ps. | 117,076 | Ps. | 359,905 | Ps. | — | Ps. | 28,919,404
Income from commissions and fees (2) |  | 3,243,740 |  | 134,252 |  | 978,344 |  | — |  | — |  | 4,356,336
Income from sales of goods and services (2) | ​ | 107,864 | ​ | 11,069,075 | ​ | 46,617 | ​ | — | ​ | — | ​ | 11,223,556
Share of profit of equity accounted investees, net of tax |  | 41,277 |  | 326,328 |  | — |  | 3,792 |  | — |  | 371,397
Dividends |  | 11,252 |  | 115,022 |  | — |  | — |  | — |  | 126,274
Net income from other financial instruments mandatory at fair value through profit or loss | ​ | — | ​ | 323,685 | ​ | — | ​ | — | ​ | — | ​ | 323,685
Net trading income | ​ | (1,245,312) | ​ | 34,383 | ​ | 294,784 | ​ | 96 | ​ | — | ​ | (916,049)
Foreign exchange gain (loss), net | ​ | 1,575,043 | ​ | 692,134 | ​ | (11,757) | ​ | (1,495) | ​ | — | ​ | 2,253,925
Other income (3) |  | 817,906 |  | 153,118 |  | 28,419 |  | 267 |  | — |  | 999,710
Total external income | Ps. | 31,845,107 | Ps. | 13,997,083 | Ps. | 1,453,483 | Ps. | 362,565 | Ps. | — | Ps. | 47,658,238
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Banking Services | ​ | Merchant Banking | ​ | Pension and Severance Fund Management | ​ | Holding (1) | ​ | Eliminations | ​ | Total
Intersegment income |  | ​ |  |  |  | ​ |  |  |  |  |  | ​
Interest income | Ps. | 376,228 | Ps. | 158,256 | Ps. | 3,588 | Ps. | 31,624 | Ps. | (569,696) | Ps. | —
Income from commissions and fees (2) |  | 29,127 |  | 1,979 |  | 254 |  | 292,641 |  | (324,001) |  | —
Income from sales of goods and services (2) | ​ | 2,324 | ​ | 1,844 | ​ | 38,373 | ​ | — | ​ | (42,541) | ​ | —
Share of profit of equity accounted investees, net of tax |  | 830,683 |  | (341) |  | — |  | 642,720 |  | (1,473,062) |  | —
Dividends |  | 453 |  | 1,449 |  | — |  | — |  | (1,902) |  | —
Net trading income | ​ | 80 | ​ | 2,202 | ​ | 5,315 | ​ | — | ​ | (7,597) | ​ | —
Other income (3) |  | 53,109 |  | (446) |  | (24,025) |  | 835 |  | (29,473) |  | —
Total intersegment income |  | 1,292,004 |  | 164,943 |  | 23,505 |  | 967,820 |  | (2,448,272) |  | —
Total income | Ps. | 33,137,111 | Ps. | 14,162,026 | Ps. | 1,476,988 | Ps. | 1,330,385 | Ps. | (2,448,272) | Ps. | 47,658,238
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Expenses |  | ​ |  |  |  | ​ |  |  |  |  |  | ​
Interest expense | Ps. | (19,260,207) | Ps. | (3,471,779) | Ps. | (56,927) | Ps. | (519,869) | Ps. | 676,352 | Ps. | (22,632,430)
Net impairment loss on financial assets |  | (4,170,048) |  | (28,175) |  | 1,965 |  | 12,578 |  | 1,286 |  | (4,182,394)
Depreciation and amortization |  | (639,717) |  | (14,028) |  | (16,786) |  | (1,736) |  | 1,776 |  | (670,491)
Expenses from commissions and fees |  | (910,751) |  | (16,104) |  | (104,773) |  | (430) |  | 28,245 |  | (1,003,813)
Costs and expenses of sales goods and services | ​ | (443,840) | ​ | (7,498,858) | ​ | (79,794) | ​ | — | ​ | 16,895 | ​ | (8,005,597)
Personnel expenses | ​ | (2,672,717) | ​ | (147,303) | ​ | (195,469) | ​ | (39,779) | ​ | 100 | ​ | (3,055,168)
Administrative expenses |  | (4,185,245) |  | (178,885) |  | (259,331) |  | (67,494) |  | 323,953 |  | (4,367,002)
Income tax expense |  | 184,941 |  | (1,268,268) |  | (172,943) |  | (56,966) |  | 2,802 |  | (1,310,434)
Other expense (4) |  | (212,354) |  | (8,459) |  | (32,721) |  | 82,111 |  | (82,370) |  | (253,793)
Total expenses |  | (32,309,938) |  | (12,631,859) |  | (916,779) |  | (591,585) |  | 969,039 |  | (45,481,122)
Net income for the year | Ps. | 827,173 | Ps. | 1,530,167 | Ps. | 560,209 | Ps. | 738,800 | Ps. | (1,479,233) | Ps. | 2,177,116
| (1) | Includes Grupo Aval (Separate Financial Statement) and Grupo Aval Limited.
| (2) | See note 28, income from contracts with customers.
| (3) | Includes Net gain on sale of debt and equity securities for Ps. 108,773; Gain on the sale of non-current assets held for sale Ps. 48,589; net gain in asset valuation Ps. 74,886 and other operating income Ps. 767,462.
| (4) | Includes loss from sale of non-current assets held for sale Ps. (595) and other operating expenses Ps. (253,198).
​ ​ Revenue from contracts with customers at December, 2023 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Banking Services | ​ | Merchant Banking | ​ | Pension and Severance Fund Management | ​ | Holding (1) | ​ | Eliminations | ​ | Total
​ |  | ​ |  | ​ |  |  | ​ | ​ |  | ​ |  |  | ​
Revenue from contracts with customers (2) |  | Ps. | 3,383,055 | Ps. | 11,207,150 | Ps. | 1,063,588 | Ps. | 292,641 | Ps. | (366,542) | Ps. | 15,579,892
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Timing of revenue recognition |  |  | ​ | ​ |  |  | ​ | ​ |  | ​ |  |  | ​
At a point in time |  |  | 142,134 | ​ | 400,146 | ​ | 75,527 | ​ | 292,641 | ​ | (304,433) |  | 606,015
Over time |  |  | 3,240,921 | ​ | 10,807,004 | ​ | 988,061 | ​ | — | ​ | (62,109) |  | 14,973,877
(1) | Includes Grupo Aval (Separate Financial Statement) and Grupo Aval Limited.
(2) | See note 28, includes Income from contracts with customers.
​ ​ Statement of Financial Position December 31, 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Banking Services | ​ | BAC Holding International Corp. (1) | ​ | Merchant Banking | ​ | Pension and Severance Fund Management | ​ | Holding (2) | ​ | Eliminations | ​ | Total
Assets |  | ​ | ​ |  | ​ |  |  | ​ | ​ | ​ | ​ |  | ​ |
Trading assets | Ps. | 5,689,416 | Ps. | — | Ps. | 4,147,230 | Ps. | 2,061,335 | Ps. | 764 | Ps. | (57,338) | Ps. | 11,841,407
Investment securities (3) |  | 27,574,684 |  | — |  | 3,364,143 |  | 528,607 |  | 2,725,950 |  | (518,907) | ​ | 33,674,477
Hedging derivatives assets |  | 107 |  | — |  | 20,747 |  | — |  | — |  | — | ​ | 20,854
Investments in associates and joint ventures |  | 11,326,522 |  | — |  | 1,143,120 |  | — |  | 18,812,115 |  | (29,858,414) | ​ | 1,423,343
Loans, net |  | 177,391,660 |  | — |  | 2,455,471 |  | — |  | 1,505,904 |  | (2,237,188) | ​ | 179,115,847
Other assets (4) |  | 27,794,158 |  | — |  | 42,899,607 |  | 932,790 |  | 282,691 |  | (2,393,938) | ​ | 69,515,308
Total assets | Ps. | 249,776,547 | Ps. | — | Ps. | 54,030,318 | Ps. | 3,522,732 | Ps. | 23,327,424 | Ps. | (35,065,785) | Ps. | 295,591,236
Liabilities |  | ​ | ​ |  | ​ |  |  | ​ | ​ |  | ​ |  | ​ |
Customer deposits | Ps. | 170,222,824 |  | — |  | 6,589,578 |  | 1,124 |  | — |  | (3,472,377) |  | 173,341,149
Financial obligations |  | 46,440,671 |  | — |  | 21,296,089 |  | 444,647 |  | 6,509,111 |  | (2,573,743) |  | 72,116,775
Other liabilities (5) |  | 7,441,514 |  | — |  | 11,273,270 |  | 610,809 |  | 124,715 |  | (138,655) |  | 19,311,653
Total liabilities | Ps. | 224,105,009 | Ps. | — | Ps. | 39,158,937 | Ps. | 1,056,580 | Ps. | 6,633,826 | Ps. | (6,184,775) | Ps. | 264,769,577
​
(1) | See note 1.1. “Discontinued operations of BAC Holding”.
(2) | Includes Grupo Aval (Separate Financial Statement) and Grupo Aval Limited.
(3) | The balance in segment Holding corresponds to a bond issued by BAC International Bank Incorporated acquired by Grupo Aval Limited.
(4) | Includes cash and cash equivalents for Ps. 17,032,857; intangible assets Ps. 17,531,081; other accounts receivable Ps. 23,380,573, tangible assets Ps. 7,235,441; income tax assets Ps. 3,633,876; non-current assets held for sale Ps. 92,830 and other assets Ps. 608,650.
(5) | Includes trading liabilities Ps. 1,757,606; Hedging derivative liabilities Ps. 3,568; income tax liabilities Ps. 5,291,487; employee benefits Ps. 890,019; provisions Ps. 1,227,171 and other liabilities Ps. 10,141,802.
​ ​ Statement of Income for the year 2022 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Banking Services | ​ | BAC Holding International Corp. (1) | ​ | Merchant Banking | ​ | Pension and Severance Fund Management | ​ | Holding (2) | ​ | Eliminations | ​ | Total
External income |  |  | ​ |  |  |  |  |  | ​ |  |  |  |  |  | ​
Interest income |  | Ps. | 18,321,381 | Ps. | — | Ps. | 723,488 | Ps. | 98,302 | Ps. | 259,861 | Ps. | — | Ps. | 19,403,032
Income from commissions and fees (3) |  |  | 2,865,336 |  | — |  | 127,609 |  | 881,494 |  | — |  | — |  | 3,874,439
Income from sales of goods and services (3) | ​ | ​ | 88,093 | ​ | — | ​ | 11,986,518 | ​ | 66,716 | ​ | — | ​ | — | ​ | 12,141,327
Share of profit of equity accounted investees, net of tax |  |  | 41,904 |  | — |  | 326,448 |  | — |  | 4,425 |  | — |  | 372,777
Dividends |  |  | 17,696 |  | — |  | 102,192 |  | — |  | — |  | — |  | 119,888
Net income from other financial instruments mandatory at fair value through profit or loss | ​ | ​ | — | ​ | — | ​ | 278,751 | ​ | — | ​ | — | ​ | — | ​ | 278,751
Net trading income | ​ | ​ | 1,207,099 | ​ | — | ​ | 388,350 | ​ | (35,975) | ​ | 152 | ​ | — | ​ | 1,559,626
Foreign exchange loss, net | ​ | ​ | (1,286,774) | ​ | — | ​ | (483,627) | ​ | (54,771) | ​ | (546) | ​ | — | ​ | (1,825,718)
Other income (4) |  |  | 583,001 |  | — |  | (98,871) |  | (738) |  | 1,090 |  | — |  | 484,482
Discontinued operations (5) | ​ | ​ | 455,908 | ​ | 544,890 | ​ | — | ​ | — | ​ | (134,632) | ​ | — | ​ | 866,166
Total external income |  | Ps. | 22,293,644 | Ps. | 544,890 | Ps. | 13,350,858 | Ps. | 955,028 | Ps. | 130,350 | Ps. | — | Ps. | 37,274,770
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Banking Services | ​ | BAC Holding International Corp. (1) | ​ | Merchant Banking | ​ | Pension and Severance Fund Management | ​ | Holding (2) | ​ | Eliminations | ​ | Total
Intersegment income |  |  | ​ |  |  |  |  |  | ​ |  |  |  |  |  | ​
Interest income |  | Ps. | 240,317 | Ps. | — | Ps. | 110,250 | Ps. | 7,958 | Ps. | 172,312 | Ps. | (530,837) | Ps. | —
Income from commissions and fees (3) |  |  | 23,981 |  | — |  | 1,502 |  | 3,682 |  | 282,924 |  | (312,089) |  | —
Income from sales of goods and services (3) | ​ | ​ | 26,225 | ​ | — | ​ | 1,603 | ​ | 4,573 | ​ | — | ​ | (32,401) | ​ | —
Share of profit of equity accounted investees, net of tax |  |  | 884,067 |  | — |  | 427 |  | — |  | 1,915,871 |  | (2,800,365) |  | —
Dividends |  |  | 298 |  | — |  | 1,876 |  | — |  | — |  | (2,174) |  | —
Net trading income | ​ | ​ | — | ​ | — | ​ | (387) | ​ | (1,639) | ​ | — | ​ | 2,026 | ​ | —
Foreign exchange loss, net |  |  | — |  | — |  | — |  | — |  | — |  | — |  | —
Other income (4) | ​ | ​ | 12,832 | ​ | — | ​ | 36 | ​ | 2,906 | ​ | 369 | ​ | (16,143) | ​ | —
Discontinued operations (5) | ​ | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 596,648 | ​ | (596,648) | ​ | —
Total intersegment income |  |  | 1,187,720 |  | — |  | 115,307 |  | 17,480 |  | 2,968,124 |  | (4,288,631) |  | —
Total income |  | Ps. | 23,481,364 | Ps. | 544,890 | Ps. | 13,466,165 | Ps. | 972,508 | Ps. | 3,098,474 | Ps. | (4,288,631) | Ps. | 37,274,770
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Expenses |  |  | ​ |  |  |  |  |  | ​ |  |  |  |  |  | ​
Interest expense |  | Ps. | (9,602,059) | Ps. | — | Ps. | (2,030,256) | Ps. | (63,207) | Ps. | (517,383) | Ps. | 548,510 | Ps. | (11,664,395)
Net impairment loss on financial assets |  |  | (2,447,198) |  | — |  | (14,266) |  | (7,782) |  | (23,840) |  | (62) |  | (2,493,148)
Depreciation and amortization |  |  | (620,298) |  | — |  | (11,492) |  | (14,486) |  | (1,766) |  | 2,296 |  | (645,746)
Expenses from commissions and fees |  |  | (767,204) |  | — |  | (17,175) |  | (193,124) |  | (19,992) |  | 26,819 |  | (970,676)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Banking Services | ​ | BAC Holding International Corp. (1) | ​ | Merchant Banking | ​ | Pension and Severance Fund Management | ​ | Holding (2) | ​ | Eliminations | ​ | Total
Costs and expenses of sales goods and services | ​ | ​ | (487,142) | ​ | — | ​ | (7,059,820) | ​ | (63,049) | ​ | — | ​ | 13,780 | ​ | (7,596,231)
Personnel expenses | ​ | ​ | (2,493,399) | ​ | — | ​ | (123,104) | ​ | (168,450) | ​ | (48,933) | ​ | 92 | ​ | (2,833,794)
Administrative expenses |  |  | (3,569,706) |  | — |  | (126,670) |  | (195,071) |  | (116,899) |  | 304,747 |  | (3,703,599)
Income tax expense |  |  | (405,748) |  | — |  | (1,753,733) |  | (92,993) |  | (18,802) |  | (128) |  | (2,271,404)
Other expense (6) |  |  | (178,160) |  | — |  | (28,251) |  | (19,152) |  | (1,185) |  | 104 |  | (226,644)
Total expenses |  |  | (20,570,914) |  | — |  | (11,164,767) |  | (817,314) |  | (748,800) |  | 896,158 |  | (32,405,637)
Net income for the year |  | Ps. | 2,910,450 | Ps. | 544,890 | Ps. | 2,301,398 | Ps. | 155,194 | Ps. | 2,349,674 | Ps. | (3,392,473) | Ps. | 4,869,133
| (1) | S ee note 1.1. “Discontinued operations of BAC Holding”.
| (2) | Includes Grupo Aval (Separate Financial Statement) and Grupo Aval Limited.
| (3) | See note 28, income from contracts with customers.
| (4) | Includes Net gain on sale of debt and equity securities for Ps. (134,699); Gain on the sale of non-current assets held for sale Ps. 10,487; net gain in asset valuation Ps. 50,463 and other operating income Ps. 558,231.
| (5) | S ee note 1.1. “Discontinued operations of BAC Holding”.
| (6) | Includes loss from sale of non-current assets held for sale Ps. (800) and other operating expenses Ps. (225,844).
​ Revenue from contracts with customers at December, 2022 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Banking Services | ​ | BAC Holding International Corp. (1) | ​ | Merchant Banking | ​ | Pension and Severance Fund Management | ​ | Holding (2) | ​ | Eliminations | ​ | Total
​ |  | ​ |  | ​ | ​ | ​ |  |  | ​ | ​ |  | ​ |  |  | ​
Revenue from contracts with customers (3) |  | Ps. | 3,003,635 | Ps. | — | Ps. | 12,117,232 | Ps. | 956,465 | Ps. | 282,924 | Ps. | (344,490) | Ps. | 16,015,766
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Timing of revenue recognition |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ |  | ​ |  |  | ​
At a point in time |  |  | 318,011 | ​ | — | ​ | 193,572 | ​ | 62,743 | ​ | 282,924 | ​ | (289,876) |  | 567,374
Over time |  |  | 2,685,624 | ​ | — | ​ | 11,923,660 | ​ | 893,722 | ​ | — | ​ | (54,614) |  | 15,448,392
(1) | S ee note 1.1. “Discontinued operations of BAC Holding”.
(2) | Includes Grupo Aval (Separate Financial Statement) and Grupo Aval Limited.
(3) | See note 28, includes Income from contracts with customers.
​ ​ ​ Statement of Income of the year 2021 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Banking Services | ​ | BAC Holding International Corp. (1) | ​ | Merchant Banking | ​ | Pension and Severance Fund Management | ​ | Holding (2) | ​ | Eliminations | ​ | Total
External income |  | ​ |  |  |  |  |  | ​ |  |  |  |  |  |
Interest income | Ps. | 12,304,916 | Ps. | — | Ps. | 441,586 | Ps. | 44,907 | Ps. | — | Ps. | — | Ps. | 12,791,409
Income from commissions and fees (3) |  | 2,506,789 |  | — |  | 94,244 |  | 1,194,305 |  | 591 |  | — |  | 3,795,929
Income from sales of goods and services (3) | ​ | 85,268 | ​ | — | ​ | 10,309,563 | ​ | 56,083 | ​ | — | ​ | — | ​ | 10,450,914
Share of profit of equity accounted investees, net of tax |  | 25,486 |  | — |  | 272,646 |  | — |  | 2,085 |  | — |  | 300,217
Dividends |  | 11,551 |  | — |  | 142,418 |  | — |  | — |  | — |  | 153,969
Net income from other financial instruments mandatory at fair value through profit or loss | ​ | — | ​ | — | ​ | 270,095 | ​ | — | ​ | — | ​ | — | ​ | 270,095
Net trading income | ​ | 490,743 | ​ | — | ​ | 207,794 | ​ | 223,745 | ​ | (1) | ​ | — | ​ | 922,281
Foreign exchange loss, net | ​ | (189,065) | ​ | — | ​ | (243,430) | ​ | (59,150) | ​ | 230 | ​ | — | ​ | (491,415)
Other income (4) |  | 411,634 |  | — |  | 15,705 |  | (1,297) |  | 867 |  | — |  | 426,909
Discontinued operations (5) | ​ | — | ​ | 10,444,185 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 10,444,185
Total external income | Ps. | 15,647,322 | Ps. | 10,444,185 | Ps. | 11,510,621 | Ps. | 1,458,593 | Ps. | 3,772 | Ps. | — | Ps. | 39,064,493
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Banking Services | ​ | BAC Holding International Corp. (1) | ​ | Merchant Banking | ​ | Pension and Severance Fund Management | ​ | Holding (2) | ​ | Eliminations | ​ | Total
Intersegment income |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  |
Interest income | Ps. | 120,669 | Ps. | — | Ps. | 22,353 | Ps. | 5,308 | Ps. | 445,206 | Ps. | (593,536) | Ps. | —
Income from commissions and fees (3) |  | 20,209 |  | — |  | 1,821 |  | 3,508 |  | 283,640 |  | (309,178) |  | —
Income from sales of goods and services (3) | ​ | 19,768 | ​ | — | ​ | 933 | ​ | 6,117 | ​ | — | ​ | (26,818) | ​ | —
Share of profit of equity accounted investees, net of tax |  | 862,945 |  | — |  | 1,139 |  | — |  | 3,406,774 |  | (4,270,858) |  | —
Dividends |  | 267 |  | — |  | 2,039 |  | — |  | — |  | (2,306) |  | —
Net trading income | ​ | (2,040) | ​ | — | ​ | (318) | ​ | (1,987) | ​ | — | ​ | 4,345 | ​ | —
Foreign exchange loss, net | ​ | — | ​ | — | ​ | (250) | ​ | — | ​ | — | ​ | 250 | ​ | ​
Gain on deconsolidation (loss of control) of subsidiaries (6) | ​ | 1,303,024 | ​ | — |  | — |  | — |  | — |  | (1,303,024) |  | —
Other income (4) |  | 13,974 |  | — |  | (1,053) |  | 5,694 |  | 137 |  | (18,752) |  | —
Discontinued operations (5) | ​ | 1,627,312 | ​ | 64,106 | ​ | — | ​ | — | ​ | — | ​ | (1,691,418) | ​ | —
Total intersegment income | ​ | 3,966,128 | ​ | 64,106 | ​ | 26,664 | ​ | 18,640 | ​ | 4,135,757 | ​ | (8,211,295) | ​ | —
Total income | Ps. | 19,613,450 | Ps. | 10,508,291 | Ps. | 11,537,285 | Ps. | 1,477,233 | Ps. | 4,139,529 | Ps. | (8,211,295) | Ps. | 39,064,493
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Expenses |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  |
Interest expense | Ps. | (3,745,070) | Ps. | — | Ps. | (1,028,343) | Ps. | (40,247) | Ps. | (443,209) | Ps. | 596,039 | Ps. | (4,660,830)
Net impairment loss on financial assets |  | (2,714,672) |  | — |  | (9,177) |  | (6,943) |  | — |  | 9,709 |  | (2,721,083)
Depreciation and amortization |  | (585,650) |  | — |  | (9,434) |  | (15,637) |  | (1,811) |  | 5,665 |  | (606,867)
Expenses from commissions and fees |  | (625,788) |  | — |  | (13,587) |  | (131,503) |  | (563) |  | 39,699 |  | (731,742)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Banking Services | ​ | BAC Holding International Corp. (1) | ​ | Merchant Banking | ​ | Pension and Severance Fund Management | ​ | Holding (2) | ​ | Eliminations | ​ | Total
Costs and expenses of sales goods and services | ​ | (479,775) | ​ | — | ​ | (6,830,460) | ​ | — | ​ | — | ​ | (41,744) | ​ | (7,351,979)
Personnel expenses | ​ | (2,331,813) | ​ | — | ​ | (107,959) | ​ | (172,539) | ​ | (37,293) | ​ | 15,417 | ​ | (2,634,187)
Administrative expenses |  | (3,131,934) |  | — |  | (100,585) |  | (232,314) |  | (99,532) |  | 354,758 |  | (3,209,607)
Income tax expense |  | (601,377) |  | — |  | (1,476,571) |  | (191,886) |  | (53,555) |  | (39) |  | (2,323,428)
Other expense (7) |  | (98,699) |  | — |  | (112,146) |  | (105,961) |  | (439) |  | (22,150) |  | (339,395)
Discontinued operations (5) | ​ | — | ​ | (8,816,873) | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (8,816,873)
Total expenses |  | (14,314,778) |  | (8,816,873) |  | (9,688,262) |  | (897,030) |  | (636,402) |  | 957,354 |  | (33,395,991)
Net income for the year | Ps. | 5,298,672 | Ps. | 1,691,418 | Ps. | 1,849,023 | Ps. | 580,203 | Ps. | 3,503,127 | Ps. | (7,253,941) | Ps. | 5,668,502
(1)S ee note 1.1. “Discontinued operations of BAC Holding”. (2)Includes Grupo Aval (Separate Financial Statement) and Grupo Aval Limited. (3)See note 28, income from contracts with customers. (4)Includes net gain on sale of debt and equity securities for Ps. 83,640; gain on the sale of non-current assets held for sale Ps. 13,631; net gain in asset valuation Ps. 20,974 and other operating income Ps. 308,664. (5)Co rrespond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022. Includes recognition of the spin-off of MFG from the BAC Holding segment to the Banco de Bogotá segment. (6)Corresponds to deconsolidation of Porvenir from the Banco de Bogotá segment. (7)Includes loss from sale of non-current assets held for sale Ps. (2,927) and other operating expenses Ps. (336,468). ​ Revenue from contracts with customers at December, 2021 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Banking Services | ​ | BAC Holding International Corp. (1) | ​ | Merchant Banking | ​ | Pension and Severance Fund Management | ​ | Holding (2) | ​ | Eliminations | ​ | Total
​ |  | ​ |  | ​ | ​ | ​ |  |  | ​ | ​ |  | ​ |  |  | ​
Revenue from contracts with customers (3) |  | Ps. | 2,632,034 | Ps. | — | Ps. | 10,406,561 | Ps. | 1,260,013 | Ps. | 284,231 | Ps. | (335,996) | Ps. | 14,246,843
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Timing of revenue recognition |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ |  | ​ |  |  | ​
At a point in time |  |  | 273,025 | ​ | — | ​ | 139,770 | ​ | 54,701 | ​ | 284,231 | ​ | (291,523) |  | 460,204
Over time |  |  | 2,359,009 | ​ | — | ​ | 10,266,791 | ​ | 1,205,312 | ​ | — | ​ | (44,473) |  | 13,786,639
(1) | S ee note 1.1. “Discontinued operations of BAC Holding”.
(2) | Includes Grupo Aval (Separate Financial Statement) and Grupo Aval Limited.
(3) | See note 28, includes Income from contracts with customers.
​ Reconciliation of net income, assets and liabilities of the reportable operating segments ​ Main eliminations of total income, expenses, assets and liabilities between segments with the corresponding consolidated entries at the level of Grupo Aval are:
| ● | Loans and financial obligations of entities mainly from non-financial sector.
| ● | Investments in term deposits and outstanding bonds of in other segments.
| ● | Investments in subordinates elimination and record of non- controlling interests.
| ● | Leases and commissions pay between entities of Grupo Aval.
| ● | Expenses and incomes from commissions
​ 31.5 Analysis of Revenues by Products and Services Grupo Aval’s revenues are analyzed in each segment by products and services, in the statement of income. ​ 31.6 Income by Country Grupo Aval’s revenues for each individual country for which revenues are significant, are the following during the years ended December 31, 2023, 2022 and 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Country
​ | ​ | Colombia | ​ | Panamá | ​ | Barbados | ​ | Perú | ​ | Other countries (1) | ​ | Total income
Interest income | Ps. | 26,954,361 | Ps. | 1,852,433 | Ps. | 62,818 | Ps. | 49,582 | Ps. | 210 | Ps. | 28,919,404
Income from commissions and fees | ​ | 4,196,458 | ​ | 157,526 | ​ | 2,116 | ​ | 119 | ​ | 117 | ​ | 4,356,336
Commissions on banking services | ​ | 1,526,772 | ​ | 134,216 | ​ | 2,116 | ​ | 119 | ​ | 117 | ​ | 1,663,340
Fees on credit cards | ​ | 986,721 | ​ | 22,751 | ​ | — | ​ | — | ​ | — | ​ | 1,009,472
Pension and severance fund management | ​ | 978,504 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 978,504
Trust activities | ​ | 463,194 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 463,194
Storage services | ​ | 188,191 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 188,191
Commissions on drafts, checks and checkbooks | ​ | 22,382 | ​ | 559 | ​ | — | ​ | — | ​ | — | ​ | 22,941
Office network services | ​ | 21,638 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 21,638
Other commissions | ​ | 9,056 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 9,056
Share of profit of equity accounted investees, net of tax | ​ | 371,397 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 371,397
Dividends | ​ | 119,988 | ​ | 6,286 | ​ | — | ​ | — | ​ | — | ​ | 126,274
Income from sales of goods and services | ​ | 10,305,957 | ​ | — | ​ | — | ​ | 917,599 | ​ | — | ​ | 11,223,556
Energy and gas E&G | ​ | 5,263,794 | ​ | — | ​ | — | ​ | 894,822 | ​ | — | ​ | 6,158,616
Infrastructure | ​ | 3,954,197 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 3,954,197
Hotels | ​ | 576,118 | ​ | — | ​ | — | ​ | 22,777 | ​ | — | ​ | 598,895
Agribusiness | ​ | 296,804 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 296,804
Other services | ​ | 215,044 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 215,044
Other income | ​ | 2,500,392 | ​ | 155,595 | ​ | (294) | ​ | 5,584 | ​ | (6) | ​ | 2,661,271
Total income | Ps. | 44,448,553 | Ps. | 2,171,840 | Ps. | 64,640 | Ps. | 972,884 | Ps. | 321 | Ps. | 47,658,238
(1) | Costa Rica and Grand Cayman.
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Country
​ | ​ | Colombia | ​ | Panamá | ​ | Barbados | ​ | Perú | ​ | Other countries (1) | ​ | Total income
Interest income | Ps. | 17,882,243 | Ps. | 1,445,425 | Ps. | 41,664 | Ps. | 33,550 | Ps. | 150 | Ps. | 19,403,032
Income from commissions and fees | ​ | 3,731,370 | ​ | 140,491 | ​ | 2,398 | ​ | 46 | ​ | 134 | ​ | 3,874,439
Commissions on banking services | ​ | 1,410,232 | ​ | 120,512 | ​ | 2,398 | ​ | 46 | ​ | 134 | ​ | 1,533,322
Pension and severance fund management | ​ | 885,420 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 885,420
Fees on credit cards | ​ | 816,587 | ​ | 19,459 | ​ | — | ​ | — | ​ | — | ​ | 836,046
Trust activities | ​ | 353,285 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 353,285
Storage services | ​ | 187,237 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 187,237
Other commissions | ​ | 29,013 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 29,013
Commissions on drafts, checks and checkbooks | ​ | 24,661 | ​ | 520 | ​ | — | ​ | — | ​ | — | ​ | 25,181
Office network services | ​ | 24,935 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 24,935
Share of profit of equity accounted investees, net of tax | ​ | 372,777 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 372,777
Dividends | ​ | 108,343 | ​ | 11,545 | ​ | — | ​ | — | ​ | — | ​ | 119,888
Income from sales of goods and services | ​ | 11,198,953 | ​ | — | ​ | — | ​ | 942,374 | ​ | — | ​ | 12,141,327
Energy and gas E&G | ​ | 4,797,942 | ​ | — | ​ | — | ​ | 920,866 | ​ | — | ​ | 5,718,808
Infrastructure | ​ | 5,330,193 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 5,330,193
Hotels | ​ | 510,829 | ​ | — | ​ | — | ​ | 21,508 | ​ | — | ​ | 532,337
Agribusiness | ​ | 340,984 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 340,984
Other services | ​ | 219,005 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 219,005
Other income | ​ | 370,640 | ​ | 115,657 | ​ | (616) | ​ | 11,146 | ​ | 314 | ​ | 497,141
Total income from continuing operations | Ps. | 33,664,326 | Ps. | 1,713,118 | Ps. | 43,446 | Ps. | 987,116 | Ps. | 598 | Ps. | 36,408,604
Discontinued operations (2) | ​ | 866,166 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 866,166
Total income | ​ | 34,530,492 | ​ | 1,713,118 | ​ | 43,446 | ​ | 987,116 | ​ | 598 | ​ | 37,274,770
​ (1) Costa Rica and Grand Cayman. (2) Correspond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Country
​ | ​ | Colombia | ​ | Panamá | ​ | Barbados | ​ | Perú | ​ | Other countries (1) | ​ | Total income
Interest income | Ps. | 11,683,436 | Ps. | 1,058,684 | Ps. | 27,652 | Ps. | 21,037 | Ps. | 600 | Ps. | 12,791,409
Income from commissions and fees | ​ | 3,681,566 | ​ | 110,506 | ​ | 2,664 | ​ | 786 | ​ | 407 | ​ | 3,795,929
Commissions on banking services | ​ | 1,264,012 | ​ | 96,966 | ​ | 2,664 | ​ | 786 | ​ | 407 | ​ | 1,364,835
Pension and severance fund management | ​ | 1,199,068 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 1,199,068
Fees on credit cards | ​ | 658,030 | ​ | 13,101 | ​ | — | ​ | — | ​ | — | ​ | 671,131
Trust activities | ​ | 336,637 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 336,637
Storage services | ​ | 169,386 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 169,386
Commissions on drafts, checks and checkbooks | ​ | 24,748 | ​ | 439 | ​ | — | ​ | — | ​ | — | ​ | 25,187
Office network services | ​ | 18,914 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 18,914
Other commissions | ​ | 10,771 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 10,771
Share of profit of equity accounted investees, net of tax | ​ | 300,217 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 300,217
Dividends | ​ | 148,091 | ​ | 5,878 | ​ | — | ​ | — | ​ | — | ​ | 153,969
Income from sales of goods and services | ​ | 9,416,207 | ​ | — | ​ | — | ​ | 1,034,707 | ​ | — | ​ | 10,450,914
Energy and gas E&G | ​ | 3,850,399 | ​ | — | ​ | — | ​ | 1,023,879 | ​ | — | ​ | 4,874,278
Infrastructure | ​ | 4,662,912 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 4,662,912
Hotels | ​ | 274,864 | ​ | — | ​ | — | ​ | 10,828 | ​ | — | ​ | 285,692
Agribusiness | ​ | 218,511 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 218,511
Other services | ​ | 409,521 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 409,521
Other income | ​ | 966,253 | ​ | 158,525 | ​ | 2,009 | ​ | 881 | ​ | 202 | ​ | 1,127,870
Total income from continuing operations | Ps. | 26,195,770 | Ps. | 1,333,593 | Ps. | 32,325 | Ps. | 1,057,411 | Ps. | 1,209 | Ps. | 28,620,308
Discontinued operations (2) | ​ | 10,444,185 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 10,444,185
Total income | ​ | 36,639,955 | ​ | 1,333,593 | ​ | 32,325 | ​ | 1,057,411 | ​ | 1,209 | ​ | 39,064,493
______________________________
(1) | Costa Rica and Grand Cayman.
(2) | Co rrespond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022.
During the years ended December 31, 2023, 2022 and 2021, Grupo Aval reported no concentration of revenue in customers with more than a 10% share of revenue from ordinary activities. The foregoing analysis is based on the customer's domicile. Income from off- shore entities of Colombian customers are reported as income from Colombia. The revenues include income from interest, fees, commissions and other operating income. 31.7 Non-current assets by Country The main non-current assets are detailed below according to the presentation based on the degree of liquidity for each country for the periods ending December 31, 2023 and 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |
December 31, 2023 | ​ | (1) Own – use Property, plant and equipment, net | ​ | (2) Intangible assets
Colombia |  | Ps. | 3,979,113 |  | Ps. | 15,303,358
Panamá |  |  | 326,976 |  | ​ | 258,404
Perú |  |  | 121,544 |  | ​ | 2,579,249
Barbados | ​ | ​ | 170 | ​ | ​ | 905
Total |  | Ps. | 4,427,803 |  | Ps. | 18,141,916
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |
December 31, 2022 | ​ | (1) Own – use Property, plant and equipment, net | ​ | (2) Intangible assets
Colombia |  | Ps. | 4,173,701 |  | Ps. | 14,239,986
Panamá |  |  | 431,409 |  | ​ | 334,463
Perú | ​ | ​ | 124,953 | ​ | ​ | 2,956,379
Barbados |  |  | 179 |  | ​ | 253
Total |  | Ps. | 4,730,242 |  | Ps. | 17,531,081
(1) see note 15.1 (2) see notes 16 to 18.

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