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REPORTING ENTITY (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
BAC Holding International Corp | Ifrs Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] |
Disclosure of subsidiaries [line items] |
Schedule of discontinued operations | The following are the impacts on assets, liabilities and equity recognized in the Consolidated Financial Statements as a result of BAC Holding´s spin-off as of March 31, 2022: ​
​ | ​ | ​
Spin-off | ​ | Value
​ | ​ | ​
Total assets | Ps. | 111,185,832
Total liabilities | ​ | 98,305,772
Non-controlling interest | ​ | 1,961
BAC Holding´s equity as of March 31, 2022 | Ps. | 12,878,099
Spin-off percentage | ​ | 75.00%
Spin-off amount | Ps. | 9,658,574
Percentage of Grupo Aval over BAC Holding | ​ | 68.74%
Effect of the spin-off on owners of the parent | Ps. | (6,638,961)
Effect of the spin-off on non-controlling interest | Ps. | (3,019,613)
​ ​ The following is the effect of the realization of Other Comprehensive Income a result of the loss of control of the subsidiary BAC Holding as of March 31, 2022: ​
​ | ​ | ​
--- | --- | ---
Other Comprehensive Income items which were reclassified to profit or loss | ​ | Value
Hedged items | Ps. | 6,551,200
Hedging derivative instruments | ​ | (4,013,210)
Hedging non-derivative instruments | ​ | (2,761,143)
Foreign currency translation differences from unhedged foreign operations | ​ | (1,267,033)
Unrealized gains on debt securities at FVOCI | ​ | 98,947
Income tax expense | ​ | 2,443,861
Total reclassifications of Other Comprehensive Income to profit or loss | Ps. | 1,052,622
Grupo Aval´s ownership over BAC Holding | ​ | 68.74%
Attributable to owners of the parent | Ps. | 723,535
Attributable to non-controlling interest | Ps. | 329,087
​ | ​ | ​
​ | ​ | ​
Total reclassifications of Other Comprehensive Income to retained earnings | Ps. | (7,735)
Grupo Aval´s ownership over BAC Holding | ​ | 68.74%
Attributable to owners of the parent | Ps. | (5,317)
Attributable to non-controlling interest | Ps. | (2,418)
​ The following are BAC Holding´s assets and liabilities which were derecognized at their carrying values as a result of the spin off as of March 31, 2022: ​
​ | ​ | ​
--- | --- | ---
Assets | ​ | ​
Cash and cash equivalents | Ps. | 17,570,390
Trading assets | ​ | 158,850
Investment securities | ​ | 14,286,296
Loans, net | ​ | 69,778,334
Other accounts receivable, net | ​ | 915,840
Non-current assets held for sale | ​ | 63,957
Tangible assets | ​ | 1,899,743
Goodwill | ​ | 5,902,410
Other Intangibles | ​ | 196,106
Income tax assets | ​ | 227,872
Other assets | ​ | 186,034
Total assets | Ps. | 111,185,832
​ | ​ | ​
Liabilities and equity | ​ | ​
Liabilities | ​ | ​
Trading liabilities | Ps. | 904
Customer deposits | ​ | 83,778,961
Financial obligations | ​ | 10,938,587
Provisions | ​ | 39,670
Income tax liabilities | ​ | 481,239
Employee benefits | ​ | 246,186
Other liabilities | ​ | 2,820,225
Total liabilities | Ps. | 98,305,772
​ | ​ | ​
Owners of the parent: | ​ | ​
Equity attributable to owners of the parent | ​ | 12,878,099
Non-controlling interest | ​ | 1,961
Total equity | ​ | 12,880,060
Total liabilities and equity | Ps. | 111,185,832
​ Income Statement of discontinued operations ​ The following is discontinued operations Income Statement for the three-month period ended March 31 2022: ​
​ | ​ | ​
--- | --- | ---
​ | ​ | ​
​ | ​ | From January 1, to March 31,
​ | ​ | 2022
Interest income calculated using the effective interest method | ​ | ​
Loan portfolio | Ps. | 1,684,995
Investments in debt securities | ​ | 164,424
Total interest income | ​ | 1,849,419
​ | ​ | ​
Interest expense | ​ | ​
Deposits | ​ | ​
Checking accounts | ​ | (47,739)
Savings accounts | ​ | (53,608)
Time deposits | ​ | (324,670)
​ | ​ | (426,017)
Financial obligations | ​ | ​
Interbank borrowings and overnight funds | ​ | (253)
Borrowings from banks and others | ​ | (66,621)
Bonds issued | ​ | (61,195)
​ | ​ | (128,069)
Net interest income | ​ | 1,295,333
​ | ​ | ​
Impairment losses on financial assets | ​ | ​
Loans and other accounts receivable | ​ | (264,926)
Other financial assets | ​ | (2,850)
Net impairment loss on financial assets | ​ | (267,776)
Net interest income, after impairment losses | ​ | 1,027,557
​ | ​ | ​
​ | ​ | ​
--- | --- | ---
​ | ​ | ​
​ | ​ | From January 1, to March 31,
​ | ​ | 2022
Income from commissions and fees | ​ | 753,523
Expenses from commissions and fees | ​ | (30,396)
Net income from commissions and fees | ​ | 723,127
​ | ​ | ​
​ | ​ | ​
Net trading income | ​ | 953
Other income | ​ | 291,413
Other expenses | ​ | (1,274,056)
​ | ​ | ​
Net income before tax expense | ​ | 768,994
Income tax expense | ​ | (224,104)
Net income from discontinued operations | Ps. | 544,890
​ | ​ | ​
Net reclassifications of Other Comprehensive Income | Ps. | 1,052,622
​ | ​ | ​
Net income from discontinued operations, net of tax | Ps. | 1,597,512
​ | ​ | ​
Net income for the year attributable to: | ​ | ​
Owners of the parent | Ps. | 1,098,073
Non-controlling interests | ​ | 499,439
Net income from discontinued operations, net of tax | Ps. | 1,597,512
Net income per share basic and diluted (in Colombian pesos, see note 25.3 "Earnings per share"). | Ps. | 47.45
​ Cash Flows of spin-off ​ The following is the detail of the Cash Flow of discontinued operations from January 1 to March 31, 2022: ​
​ | ​ | ​
​ | ​ | March 31,
​ | ​ | 2022
​ | ​ | ​
Net gain discontinued operations, net of taxes | Ps. | (1,597,512)
​ | ​ | ​
Reconciliation of net income before taxes and net cash provided by operating activities: | ​ | ​
Effect of realization OCI to income | Ps. | 1,052,622
BAC Holding Corp's participation in results | ​ | 544,890
Net cash provided by operating activities | Ps. | -
​ | ​ | ​
Cash flows from investing activities: | ​ | ​
Loss of control in subsidiary | Ps. | (17,570,390)
​ | ​ | ​
Net cash by investing activities | Ps. | (17,570,390)
​ | ​ | ​
Decrease in cash and cash equivalents | Ps. | (1,393,602)
​ | ​ | ​
Decrease in cash and cash equivalents | ​ | (18,963,992)
Cash and cash equivalents at beginning of year | Ps. | 18,963,992
Cash and cash equivalents at end of year | Ps. | -
BAC Holding International Corp | Ifrs Discontinued Operations, Disposed of by Sale [Member] |
Disclosure of subsidiaries [line items] |
Schedule of discontinued operations | The following are the details of the transaction: ​
​ | ​ | ​
--- | --- | ---
Disposal of BAC Holding | ​ | Value
BAC shares before the sale | ​ | 10,805,047,272
​ | ​ | ​
Investment carrying amount as of April 1, (The fair value of the retained interest). | Ps. | 3,356,952
Equity method | ​ | ​
Share of profit of equity accounted investees, net of tax | ​ | 251,660
Other Comprehensive Income, investments in associates | ​ | (15,364)
Other Comprehensive Income, foreign currency translation differences from hedged | ​ | 930,900
Other Comprehensive Income, cumulative translation adjustment of the investments | ​ | 1,439
Derecognition of BAC Holding as an investment in associate | Ps. | 4,525,587
​ | ​ | ​
​ | ​ | ​
Effects on the Income Statement for the period | ​ | Value
Derecognition of BAC Holding as an investment in associate | Ps. | (4,525,587)
Recognition of retained interest | ​ | 519,964
Consideration received | ​ | 2,645,914
​ | ​ | ​
Amount reclassified to discontinued operations as a Share of profit of equity accounted investees, net of tax | Ps. | 251,660
Other Comprehensive Income items are reclassified to the Income Statement | ​ | ​
Net gain (loss) on hedges of net investments in foreign operations: | ​ | ​
Foreign currency translation differences from hedged | ​ | 930,900
Non-derivative hedging instrument | ​ | (900,454)
Foreign currency translation differences from unhedged foreign operations | ​ | 30,446
Equity method | ​ | (15,364)
Cumulative translation adjustment of the investments | ​ | 1,439
Deferred tax | ​ | 360,182
Total Other Comprehensive Income reclassifications to the Income Statement | Ps. | 376,703
Grupo Aval´s ownership over BAC Holding | ​ | 68.93%
Attributable to owners of the parent | Ps. | 259,644
Attributable to non-controlling interest | Ps. | 117,059
Total Other Comprehensive Income reclassifications to the Income Statement | ​ | 376,703
​ | ​ | ​
Loss from discontinued operations | Ps. | (731,346)
​ Cash Flows of sale ​
​ | ​ | ​
​ | ​ | December 31,
​ | ​ | 2022
​ | ​ | ​
Net income from discontinued operations | Ps. | (731,346)
Effect of realization OCI to income | ​ | (376,703)
Net income net, tax expense | Ps. | (1,108,049)
​ | ​ | ​
Changes in operating assets and liabilities | ​ | 1,108,049
Net cash provided by operating activities | ​ | -
Net cash provided by investing activities | ​ | 2,645,914
Net cash used by financing activities | ​ | -
Effect of foreign currency changes on cash and equivalents | ​ | -
​ | ​ | ​
Increase in cash and cash equivalents | ​ | 2,645,914
​ | ​ | ​
Cash and cash equivalents at beginning of period | Ps. | -
Cash and cash equivalents at end of period | Ps. | 2,645,914
​ Summary discontinued operations during the year 2022 BAC Holding Corp. (BAC Holding) ​
​ | ​ | ​ | ​ | ​ | ​ | ​
--- | --- | --- | --- | --- | --- | ---
​ | ​ | Spin-off | ​ | Sale | ​ | Net
​ | ​ | From January 1, to March 31, | ​ | December | ​ | December
​ | ​ | 2022 | ​ | 2022 | ​ | 2022
Interest income calculated using the effective interest method | ​ | ​ | ​ | ​ | ​ | ​
Loan portfolio | Ps. | 1,684,995 | Ps. | — | Ps. | 1,684,995
Investments in debt securities | ​ | 164,424 | ​ | — | ​ | 164,424
Total interest income | ​ | 1,849,419 | ​ | — | ​ | 1,849,419
​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ | ​ | ​ | ​ | ​ | ​
Checking accounts | ​ | (47,739) | ​ | — | ​ | (47,739)
Savings accounts | ​ | (53,608) | ​ | — | ​ | (53,608)
Time deposits | ​ | (324,670) | ​ | — | ​ | (324,670)
​ | ​ | (426,017) | ​ | — | ​ | (426,017)
Financial obligations | ​ | ​ | ​ | ​ | ​ | ​
Interbank borrowings and overnight funds | ​ | (253) | ​ | — | ​ | (253)
Borrowings from banks and others | ​ | (66,621) | ​ | — | ​ | (66,621)
Bonds issued | ​ | (61,195) | ​ | — | ​ | (61,195)
​ | ​ | (128,069) | ​ | — | ​ | (128,069)
Net interest income | ​ | 1,295,333 | ​ | — | ​ | 1,295,333
​ | ​ | ​ | ​ | ​ | ​ | ​
Impairment (losses) recoveries on financial assets | ​ | ​ | ​ | ​ | ​ | ​
Loans and other accounts receivable | ​ | (264,926) | ​ | — | ​ | (264,926)
Other financial assets | ​ | (2,850) | ​ | — | ​ | (2,850)
Net impairment loss on financial assets | ​ | (267,776) | ​ | — | ​ | (267,776)
Net interest income, after impairment losses | ​ | 1,027,557 | ​ | — | ​ | 1,027,557
​ | ​ | ​ | ​ | ​ | ​ | ​
Income from commissions and fees | ​ | 753,523 | ​ | — | ​ | 753,523
Expenses from commissions and fees | ​ | (30,396) | ​ | — | ​ | (30,396)
Net income from commissions and fees | ​ | 723,127 | ​ | — | ​ | 723,127
​ | ​ | ​ | ​ | ​ | ​ | ​
Net trading income | ​ | 953 | ​ | — | ​ | 953
Other income | ​ | 291,413 | ​ | 251,660 | ​ | 543,073
Other expenses | ​ | (1,274,056) | ​ | (1,359,709) | ​ | (2,633,765)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) before tax expense | ​ | 768,994 | ​ | (1,108,049) | ​ | (339,055)
Income tax expense | ​ | (224,104) | ​ | — | ​ | (224,104)
Net income (loss) from discontinued operations | Ps. | 544,890 | Ps. | (1,108,049) | Ps. | (563,159)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net reclassifications of Other Comprehensive Income | Ps. | 1,052,622 | Ps. | 376,703 | Ps. | 1,429,325
​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) from discontinued operations, net of tax | Ps. | 1,597,512 | Ps. | (731,346) | Ps. | 866,166
​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) for the year attributable to: | ​ | ​ | ​ | ​ | ​ | ​
Owners of the parent | Ps. | 1,098,073 | Ps. | (504,083) | Ps. | 593,990
Non-controlling interests | ​ | 499,439 | ​ | (227,262) | ​ | 272,177
Net income (loss) from discontinued operations, net of tax | Ps. | 1,597,512 | Ps. | (731,346) | Ps. | 866,166
Net income per share basic and diluted (in Colombian pesos, see note 25.3 "Earnings per share"). | Ps. | 47.45 | Ps. | (21.78) | Ps. | 25.67
​ ​ Impact on the cash flow report: ​ The impacts on cash flow for the periods ended are detailed below: ​
​ ​ ​ ​ ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31,
​ | ​ | 2022 | ​ | 2021
​ | ​ | ​ | ​ | ​
Net gain discontinued operations, net of taxes | Ps. | (866,166) | Ps. | (1,118,556)
​ | ​ | ​ | ​ | ​
Reconciliation of net income before taxes and net cash provided by operating activities: | ​ | ​ | ​ | ​
Effect of realization OCI to income | Ps. | 1,429,325 | ​ | -
BAC Holding Corp's participation in results | ​ | 796,550 | ​ | 1,118,556
Loss on sale of investment and recognition of retained interest | ​ | (1,359,709) | ​ | -
​ | ​ | ​ | ​ | ​
Net cash provided by operating activities | Ps. | - | Ps. | -
​ | ​ | ​ | ​ | ​
Cash flows from investing activities: | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
Loss of control in subsidiary | Ps. | (17,570,390) | Ps. | (18,963,992)
Proceeds from sale of investments in associates | ​ | 2,645,914 | ​ | -
Net cash by investing activities | Ps. | (14,924,476) | Ps. | (18,963,992)
​ | ​ | ​ | ​ | ​
Decrease in cash and cash equivalents | Ps. | (1,393,602) | Ps. | 838,598
​ | ​ | ​ | ​ | ​
Decrease in cash and cash equivalents | ​ | (16,318,078) | ​ | (18,125,394)
Cash and cash equivalents at beginning of year | Ps. | 18,963,992 | Ps. | 18,125,394
Cash and cash equivalents at end of year | Ps. | 2,645,914 | Ps. | -
Banco de Bogota S.A. |
Disclosure of subsidiaries [line items] |
Schedule of details of significant subsidiaries which are indirectly consolidated by Grupo Aval | ​
​ ​ ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | ​ |  | Total
​ | ​ | ​ | ​ | ​ | ​ | Total voting | ​ | ownership
​ | ​ | ​ | ​ | ​ | ​ | rights held by | ​ | interest held
Subsidiary | ​ | Core business | ​ | Location | ​ | Grupo Aval | ​ | by Grupo Aval
Main local direct subsidiaries |  |  |  |  |  |
Fiduciaria Bogotá S.A. |  | Management of trust funds. |  | Bogotá, Colombia |  | 94.99% | ​ | 65.47%
Almaviva S.A. | ​ | Logistics services. | ​ | Bogotá, Colombia | ​ | 95.81% | ​ | 66.04%
Megalínea S.A. |  | Technical and administrative services |  | Bogotá, Colombia |  | 94.90% | ​ | 65.41%
Main international direct subsidiaries (*) |  |  |  | ​ | ​ | ​
Banco de Bogotá Panamá S.A. |  | Commercial banking services. |  | Panamá, Republic of Panamá |  | 100% | ​ | 68.93%
Multi Financial Holding (**) | ​ | Holding company of Multi Financial Group Inc. (MFG) | ​ | Panamá, Republic of Panamá | ​ | 100% | ​ | 68.93%
(*) Discontinued operations of BAC Holding Corp. (BAC Holding) (see note 1.1.) (**) During September 2021, as part of the strategic reorganization that Banco de Bogotá and its subsidiaries have been carrying out, by transferring the control of MFG to Banco de Bogotá, through a new holding company established in Panama named Multi Financial Holding (MFH), whose only shareholder is Banco de Bogotá with a 100% stake. MFH received a 99.57% interest in MFG, becoming its direct parent. This transaction had no effect on the consolidated financial statements. ​ ​ ​
Banco de Occidente S.A. |
Disclosure of subsidiaries [line items] |
Schedule of details of significant subsidiaries which are indirectly consolidated by Grupo Aval | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | ​ |  | Total | ​
​ | ​ | ​ | ​ | ​ | ​ | Total voting | ​ | ownership | ​
​ | ​ | ​ | ​ | ​ | ​ | rights held by | ​ | interest held | ​
Subsidiary | ​ | Core business | ​ | Location | ​ | Grupo Aval | ​ | by Grupo Aval | ​
Fiduciaria de Occidente S.A. |  | Management of trust funds. |  | Bogotá, Colombia |  | 94.98% | ​ | 70.86% | ​
Banco de Occidente (Panamá). S.A. |  | Commercial banking services. |  | Panamá, Republic of Panamá |  | 95.00% | ​ | 68.66% | ​
Occidental Bank Barbados Ltd. |  | Commercial banking services. |  | Barbados |  | 100% | ​ | 72.27% | ​
Banco Popular S.A. |
Disclosure of subsidiaries [line items] |
Schedule of details of significant subsidiaries which are indirectly consolidated by Grupo Aval | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | ​ |  | Total | ​
​ | ​ | ​ | ​ | ​ | ​ | Total voting | ​ | ownership | ​
​ | ​ | ​ | ​ | ​ | ​ | rights held by | ​ | interest held | ​
Subsidiary | ​ | Core business | ​ | Location | ​ | Grupo Aval | ​ | by Grupo Aval | ​
Alpopular S.A. |  | Conservation and custody of documents; transportation of products at national and international levels. |  | Bogotá, Colombia |  | 71.10% | ​ | 66.65% | ​
Fiduciaria Popular S.A. |  | Management of trust funds. |  | Bogotá, Colombia |  | 94.85% | ​ | 88.91% | ​
Corporación Financiera Colombiana – Corficolombiana S.A. (1) | ​ | Active management of a stock pipeline through controlled and uncontrolled investments in strategic sectors including infrastructure, energy and gas, agribusiness and hotels. | ​ | Bogotá, Colombia | ​ | 55.73% | ​ | 40.53% | ​
| (1) | Corficolombiana S.A. (in which Grupo Aval and its subsidiaries own 55.73% of the aggregate voting rights and Grupo Aval has 40.53% of the ownership interest as of December 31, 2023.)
Corporacion Financiera Colombiana S.A. |
Disclosure of subsidiaries [line items] |
Schedule of details of significant subsidiaries which are indirectly consolidated by Grupo Aval | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | ​ |  | Total | ​
​ | ​ | ​ | ​ | ​ | ​ | Total voting | ​ | ownership | ​
Main Indirect Subsidiaries | ​ | ​ | ​ | ​ | ​ | rights held by | ​ | interest held | ​
Subsidiary | ​ | Core business | ​ | Location | ​ | Grupo Aval |  | by Grupo Aval | ​
Promigas S.A. E.S.P. | ​ | Transportation and distribution of natural gas. | ​ | Barranquilla, Colombia | ​ | 50.88% | ​ | 20.62% | ​
Colombiana de Licitaciones y Concesiones S.A.S. |  | Infrastructure projects. |  | Bogotá, Colombia |  | 100% | ​ | 40.53% | ​
Estudios y Proyectos del Sol S.A.S. |  | Infrastructure projects. |  | Bogotá, Colombia |  | 100% | ​ | 40.53% | ​
Proyectos y Desarrollos Viales del Pacífico S.A.S. | ​ | Infrastructure projects. | ​ | Bogotá, Colombia | ​ | 100% | ​ | 40.53% | ​
Concesionaria Vial Del Oriente S.A.S. |  | Infrastructure projects. |  | Bogotá, Colombia |  | 100% | ​ | 40.53% | ​
Concesionaria Vial Del Pacifico S.A.S. |  | Infrastructure projects. |  | Sabaneta Antioquia |  | 100% | ​ | 40.53% | ​
Estudios, Proyectos e Inversiones de los Andes S.A.S. y subsidiarias | ​ | Infrastructure projects. | ​ | Bogotá, Colombia | ​ | 100% | ​ | 40.52% | ​
CFC Gas Holding S.A.S. | ​ | Investment Company | ​ | Bogotá, Colombia | ​ | 100% | ​ | 40.53% | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Banco Comercial AV Villas S.A. |
Disclosure of subsidiaries [line items] |
Schedule of details of significant subsidiaries which are indirectly consolidated by Grupo Aval | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Total | ​
​ | ​ | ​ | ​ | ​ | ​ | Total voting | ​ | ownership | ​
​ | ​ | ​ | ​ | ​ | ​ | rights held by | ​ | interest held | ​
Subsidiary | ​ | Core business | ​ | Location | ​ | Grupo Aval | ​ | by Grupo Aval | ​
A Toda Hora S.A. ATH | ​ | ATM network services and maintenance | ​ | Bogotá, Colombia |  | 100% | ​ | 78.93% | ​
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. |
Disclosure of subsidiaries [line items] |
Schedule of details of significant subsidiaries which are indirectly consolidated by Grupo Aval | ​
​ ​ ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | ​ |  | Total
​ | ​ | ​ | ​ | ​ | ​ | Total voting | ​ | ownership
​ | ​ | ​ | ​ | ​ | ​ | rights held by | ​ | interest held
Subsidiary | ​ | Core business | ​ | Location | ​ | Grupo Aval | ​ | by Grupo Aval
Aportes en Línea S.A. |  | Technical and administrative services. |  | Bogotá, Colombia |  | 100% | ​ | 75.18%

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