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INVESTMENTS IN ASSOCIATES AND JOINT VENTURES | 12 Months Ended
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Dec. 31, 2024
Disclosure of investments in associates and joint ventures [Abstract] |
INVESTMENTS IN ASSOCIATES AND JOINT VENTURES | NOTE 14 – INVESTMENTS IN ASSOCIATES AND JOINT VENTURES The detail of the investments in associates and joint ventures for the years ended December 31, 2024, and 2023 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024 | ​ | December 31, 2023
Associates |  | Ps. | 1,429,186 |  | Ps. | 1,288,641
Joint ventures | ​ | ​ | 1,410 | ​ | ​ | 2,042
Total |  | Ps. | 1,430,596 |  | Ps. | 1,290,683
​ ​ The following table shows the balances of each investment in associates and joint ventures as of December 31, 2024 and 2023, and Grupo Aval’s ownership interest percentage in those entities: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024 | ​ | December 31, 2023
​ | ​ | Ownership | ​ | Book | ​ | Ownership | ​ | Book
​ | ​ | interest | ​ | value | ​ | interest | ​ | value
Associates | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gas Natural de Lima y Callao S.A. - Cálidda |  | 40 | % | Ps. | 699,910 |  | 40 | % | Ps. | 614,577
Gases del Caribe S.A. E.S.P. |  | 31 | % | ​ | 348,946 |  | 31 | % | ​ | 328,661
Credibanco S.A. |  | 25 | % | ​ | 216,185 |  | 25 | % | ​ | 210,399
Redeban Multicolor S.A. |  | 20 | % | ​ | 47,967 |  | 20 | % | ​ | 41,562
A.C.H Colombia S.A. |  | 34 | % | ​ | 39,182 |  | 34 | % | ​ | 32,580
Aerocali S.A. |  | 50 | % | ​ | 35,507 |  | 50 | % | ​ | 24,389
ADL Digital Lab S.A.S. |  | 34 | % | ​ | 17,756 |  | 34 | % | ​ | 12,231
Colombiana de Extrusión S.A. - Extrucol | ​ | 30 | % | ​ | 14,484 | ​ | 30 | % | ​ | 14,507
Servicios de Identidad Digital S.A.S. | ​ | 33 | % | ​ | 4,911 | ​ | 33 | % | ​ | 4,039
Energía Eficiente S.A. |  | 33 | % | ​ | 2,249 |  | 33 | % | ​ | 3,485
Metrex S.A. |  | 18 | % | ​ | 2,089 |  | 18 | % | ​ | 2,211
​ | ​ | ​ |  | Ps. | 1,429,186 | ​ | ​ |  | Ps. | 1,288,641
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024 | ​ | December 31, 2023
​ | ​ | Ownership | ​ | Book | ​ | Ownership | ​ | Book
​ | ​ | interest | ​ | value | ​ | interest | ​ | value
Joint ventures | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Renting Automayor S.A.S. (1) |  | 50 | % | Ps. | 945 |  | 50 | % | Ps. | 2,042
Rentek S.A.S | ​ | 50 | % | ​ | 465 | ​ | ​ | ​ | ​ | —
​ | ​ | ​ |  | Ps. | 1,410 | ​ | ​ |  | Ps. | 2,042
| (1) | Joint businesses executed by Grupo Aval’s subsidiaries with specific purposes wherein the joint business assumes no responsibilities for business results, not requiring significant equity resources from Grupo Aval.
​ ​ All of our associates and joint ventures are domiciled in Colombia, with the exception of Gas Natural de Lima y Callao S.A. – Cálidda which resides in Perú. ​ The main corporate purpose of Grupo Aval´s associates is described as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | Associate | ​ | Corporate purpose
1 |  | Gas Natural de Lima y Callao S.A. - Cálidda |  | Gas distribution
2 |  | Gases del Caribe S.A. E.S.P. |  | Gas distribution
3 |  | Credibanco S.A. |  | Payment processing
4 |  | Redeban Multicolor S.A. |  | Payment processing
5 |  | A.C.H Colombia S.A. |  | Automated clearing house
6 |  | Aerocali S.A. |  | Projects in airport infrastructure
7 |  | Colombiana de Extrusión S.A. - Extrucol |  | Networks and infrastructure
8 | ​ | ADL Digital Lab S.A.S. | ​ | Technology or digital services
9 | ​ | Servicios de Identidad Digital S.A.S. | ​ | Digital services
10 |  | Energía Eficiente S.A. |  | Gas distribution
11 |  | Metrex S.A. |  | Manufacturing and commercialization of industrial equipment
​ | ​ | ​ | ​ | ​
​ As of December 31, 2024, and 2023, Grupo Aval did not have contingent assets as income receivable, that arose from any contractual difference with the gas distribution concession, other than a tariff recognition. There were also no contingent liabilities for fines or sanctions imposed by the Government in the development of these concession contracts for possible contractual breaches. A roll-forward of investments in associates and joint ventures accounts is shown below for the years ended December 31, 2024, 2023 and 2022: Associates ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31, | ​ | December 31,
​ | ​ | 2024 | ​ | 2023 | ​ | 2022
Balance at the beginning of the year |  | Ps. | 1,288,641 |  | Ps. | 1,419,296 |  | Ps. | 1,170,435
Acquisitions | ​ | ​ | 2,486 | ​ | ​ | 2,433 | ​ | ​ | 7,267
Participation in the profit or loss of the period | ​ | ​ | 379,028 | ​ | ​ | 373,402 | ​ | ​ | 371,127
Participation in Other Comprehensive Income | ​ | ​ | 15,329 | ​ | ​ | (35,892) | ​ | ​ | 81,730
Dividends declared | ​ | ​ | (314,504) | ​ | ​ | (363,466) | ​ | ​ | (301,895)
Entity Liquidation | ​ | ​ | — | ​ | ​ | (282) | ​ | ​ | —
Exchange difference | ​ | ​ | 58,206 | ​ | ​ | (106,850) | ​ | ​ | 90,632
Year-end balance |  | Ps. | 1,429,186 |  | Ps. | 1,288,641 |  | Ps. | 1,419,296
​ Joint ventures
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31, | ​ | December 31,
​ | ​ | 2024 | ​ | 2023 | ​ | 2022
Balance at the beginning of the year |  | Ps. | 2,042 | ​ | Ps. | 4,047 | ​ | Ps. | 2,394
Participation in the period profit or loss | ​ | ​ | (632) | ​ | ​ | (2,005) | ​ | ​ | 1,650
Acquisitions | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3
Year-end balance |  | Ps. | 1,410 | ​ | Ps. | 2,042 | ​ | Ps. | 4,047
​ The condensed financial information of the associates and joint ventures accounted for under the equity method is as follows: Associates At the time calculating the equity method, the year-end financial information of some associates was not available. Therefore, the financial information of immediately preceding month for the years 2024 and 2023 was used. December 31, 2024 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Assets | ​ | Liabilities | ​ | Equity | ​ | Income | ​ | Expenses | ​ | Net income LTM
Gas Natural de Lima y Callao S.A. - Cálidda | ​ | Ps. | 6,979,152 | ​ | Ps. | 5,251,752 | ​ | Ps. | 1,727,400 | ​ | Ps. | 3,647,158 | ​ | Ps. | 3,223,946 | ​ | Ps. | 423,212
Gases del Caribe S.A. E.S.P. | ​ | ​ | 4,578,075 | ​ | ​ | 3,417,111 | ​ | ​ | 1,160,964 | ​ | ​ | 3,590,647 | ​ | ​ | 3,213,198 | ​ | ​ | 377,449
Redeban Multicolor S.A. | ​ | ​ | 9,622,497 | ​ | ​ | 9,405,167 | ​ | ​ | 217,330 | ​ | ​ | 565,481 | ​ | ​ | 534,150 | ​ | ​ | 31,331
Credibanco S.A. | ​ | ​ | 443,908 | ​ | ​ | 165,954 | ​ | ​ | 277,954 | ​ | ​ | 410,808 | ​ | ​ | 377,354 | ​ | ​ | 33,454
A.C.H Colombia S.A. | ​ | ​ | 999,582 | ​ | ​ | 870,224 | ​ | ​ | 129,358 | ​ | ​ | 371,014 | ​ | ​ | 251,664 | ​ | ​ | 119,350
Energía Eficiente S.A. | ​ | ​ | 112,296 | ​ | ​ | 91,629 | ​ | ​ | 20,667 | ​ | ​ | 256,529 | ​ | ​ | 256,235 | ​ | ​ | 294
Colombiana de Extrusión S.A. - Extrucol | ​ | ​ | 115,757 | ​ | ​ | 67,478 | ​ | ​ | 48,279 | ​ | ​ | 161,882 | ​ | ​ | 146,334 | ​ | ​ | 15,548
Aerocali S.A. | ​ | ​ | 125,470 | ​ | ​ | 54,456 | ​ | ​ | 71,014 | ​ | ​ | 259,537 | ​ | ​ | 207,302 | ​ | ​ | 52,235
ADL Digital Lab S.A.S. | ​ | ​ | 89,275 | ​ | ​ | 37,050 | ​ | ​ | 52,225 | ​ | ​ | 100,662 | ​ | ​ | 84,412 | ​ | ​ | 16,250
Servicios de Identidad Digital S.A.S. | ​ | ​ | 31,639 | ​ | ​ | 17,367 | ​ | ​ | 14,272 | ​ | ​ | 145 | ​ | ​ | 4,478 | ​ | ​ | (4,333)
Metrex S.A. | ​ | ​ | 44,452 | ​ | ​ | 32,841 | ​ | ​ | 11,611 | ​ | ​ | 67,163 | ​ | ​ | 64,669 | ​ | ​ | 2,494
​ December 31, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
​ | ​ | Assets | ​ | Liabilities | ​ | Equity | ​ | Income | ​ | Expenses | ​ | Net income LTM
Gas Natural de Lima y Callao S.A. - Cálidda | ​ | Ps. | 6,116,364 | ​ | Ps. | 4,521,154 | ​ | Ps. | 1,595,210 | ​ | Ps. | 3,832,676 | ​ | Ps. | 3,378,051 | ​ | Ps. | 454,625
Gases del Caribe S.A. E.S.P. | ​ | ​ | 4,066,193 | ​ | ​ | 2,974,633 | ​ | ​ | 1,091,560 | ​ | ​ | 3,104,261 | ​ | ​ | 2,730,690 | ​ | ​ | 373,571
Redeban Multicolor S.A. | ​ | ​ | 2,101,985 | ​ | ​ | 1,918,782 | ​ | ​ | 183,203 | ​ | ​ | 443,196 | ​ | ​ | 423,438 | ​ | ​ | 19,758
Credibanco S.A. | ​ | ​ | 431,534 | ​ | ​ | 180,505 | ​ | ​ | 251,029 | ​ | ​ | 329,109 | ​ | ​ | 293,021 | ​ | ​ | 36,088
A.C.H Colombia S.A. | ​ | ​ | 342,153 | ​ | ​ | 232,328 | ​ | ​ | 109,825 | ​ | ​ | 292,592 | ​ | ​ | 184,168 | ​ | ​ | 108,424
Energía Eficiente S.A. | ​ | ​ | 124,797 | ​ | ​ | 100,424 | ​ | ​ | 24,373 | ​ | ​ | 328,840 | ​ | ​ | 325,794 | ​ | ​ | 3,046
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
​ | ​ | Assets | ​ | Liabilities | ​ | Equity | ​ | Income | ​ | Expenses | ​ | Net income LTM
Colombiana de Extrusión S.A. - Extrucol | ​ | ​ | 112,151 | ​ | ​ | 63,795 | ​ | ​ | 48,356 | ​ | ​ | 183,121 | ​ | ​ | 167,562 | ​ | ​ | 15,559
Aerocali S.A. | ​ | ​ | 92,950 | ​ | ​ | 44,172 | ​ | ​ | 48,778 | ​ | ​ | 254,751 | ​ | ​ | 209,945 | ​ | ​ | 44,806
ADL Digital Lab S.A.S. | ​ | ​ | 71,577 | ​ | ​ | 35,602 | ​ | ​ | 35,975 | ​ | ​ | 74,645 | ​ | ​ | 63,492 | ​ | ​ | 11,153
Servicios de Identidad Digital S.A.S. | ​ | ​ | 50,428 | ​ | ​ | 22,812 | ​ | ​ | 27,616 | ​ | ​ | 857 | ​ | ​ | 19,694 | ​ | ​ | (18,837)
Metrex S.A. | ​ | ​ | 41,458 | ​ | ​ | 29,170 | ​ | ​ | 12,288 | ​ | ​ | 80,944 | ​ | ​ | 78,229 | ​ | ​ | 2,715
​ Joint Ventures At the time calculating the equity method, the year-end financial information of joint ventures was not available. Therefore, the information of immediately preceding month for the years 2024 and 2023 was used, is presented below. December 31, 2024 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Assets | ​ | Liabilities | ​ | Equity | ​ | Income | ​ | Expenses | ​ | Net income LTM
Renting Automayor S.A. | ​ | Ps. | 102,899 | ​ | Ps. | 101,008 | ​ | Ps. | 1,891 | ​ | Ps. | 29,928 | ​ | Ps. | 32,121 | ​ | Ps. | (2,193)
Rentek S.A.S |  | ​ | 29,131 |  | ​ | 28,202 |  | ​ | 929 |  | ​ | 15,453 |  | ​ | 14,524 |  | ​ | 929
​ December 31, 2023 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Assets | ​ | Liabilities | ​ | Equity | ​ | Income | ​ | Expenses | ​ | Net income LTM
Renting Automayor S.A. | ​ | Ps. | 120,113 | ​ | Ps. | 115,786 | ​ | Ps. | 4,327 | ​ | Ps. | 34,762 | ​ | Ps. | 38,774 | ​ | Ps. | (4,012)
​

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