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GOODWILL (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of reconciliation of changes in goodwill [line items]

Schedule of movement of the goodwill

​

​	​	​	​	​	​	​
​	​	December 31, 2024		​	December 31, 2023
Balance at the beginning of the year		Ps.	2,202,222	​	Ps.	2,248,217
Impairment charge	​	​	—	​	​	(10,000)
Effect of movements in exchange rates (1)		​	21,386	​	​	(35,995)
Balance at the end of the year		Ps.	2,223,608	​	Ps.	2,202,222

​

Schedule of goodwill assigned per Cash Generating Units (CGU)

​

​	​	​	​	​	​	​
Goodwill carrying amount
CGU	​	December 31, 2024		​	December 31, 2023
Sociedad Administradora de Pensiones y Cesantías Porvenir S.A.		Ps.	538,231	​	Ps.	538,231
Banco de Bogotá S.A. over Megabanco (1)		​	465,905	​	​	465,905
Banco Popular S.A.		​	358,401	​	​	358,401
Banco de Bogotá S.A.		​	301,222	​	​	301,222
Promigas S.A. and Subsidiaries		​	169,687	​	​	169,687
Banco de Bogotá S.A. over Multi Financial Group Inc. (2)	​	​	160,612	​	​	139,226
Banco de Occidente S.A.		​	127,571	​	​	127,571
Concesionaria Panamericana S.A.S.		​	72,594	​	​	72,594
Banco de Occidente S.A. over Banco Unión (1)		​	22,724	​	​	22,724
Hoteles Estelar S.A.		​	6,661	​	​	6,661
​		Ps.	2,223,608	​	Ps.	2,202,222

​

⁽¹⁾ Goodwill recognized as a result of mergers between Banco de Bogotá and Megabanco and Banco de Occidente and Banco Unión.

⁽²⁾ The variation presented corresponds to the foreign exchange adjustment attributable to Multi Financial Group Inc.

Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A.

Disclosure of reconciliation of changes in goodwill [line items]

Summary of main assumptions used in the impairment test reports taken as the basis for impairment testing

​

​	​	​	​	​	​	​	​	​	​	​	​
December 31, 2024
​	​	2025	​	2026	​	2027	​	2028	​	2029	​
Interest rate on investments		8.6	%	6.8	%	6.9	%	6.9	%	6.9	%
Borrowing rate		5.8	%	5.8	%	5.8	%	5.8	%	5.8	%
Growth in income from commissions		15.1	%	22.0	%	5.2	%	6.9	%	6.0	%
Growth in expenses		9.4	%	5.6	%	5.2	%	4.9	%	4.2	%
Inflation		3.0	%	3.0	%	3.0	%	3.0	%	3.0	%
Discount interest rate after taxes		9.9	%	8.8	%	7.5	%	7.9	%	7.8	%
Growth rate after thirteen years		3.0	%	​		​		​		​	​

​

​

​	​	​	​	​	​	​	​	​	​	​	​
December 31, 2023
​	​	2024	​	2025	​	2026	​	2027	​	2028	​
Interest rate on investments		8.3	%	6.4	%	6.2	%	6.1	%	6.0	%
Borrowing rate		5.8	%	5.8	%	5.8	%	5.8	%	5.8	%
Growth in income from commissions		0.8	%	48.5	%	3.3	%	4.9	%	6.1	%
Growth in expenses		7.7	%	12.4	%	7.1	%	5.4	%	5.0	%
Inflation		5.8	%	3.5	%	3.2	%	3.1	%	3.1	%
Discount interest rate after taxes		14.2	%	11.5	%	10.2	%	9.1	%	9.1	%
Growth rate after thirteen years		3.1	%	​		​		​		​	​

Banco de Bogota S.A. over Megabanco

Disclosure of reconciliation of changes in goodwill [line items]

Schedule of main assumptions used in the latest impairment tests of the groups of cash-generating units with allocated goodwill

​

​	​	​	​	​	​	​	​	​	​	​	​
December 31, 2024
​	​	2025	​	2026	​	2027	​	2028	​	2029	​
Lending rate on the loan portfolio and investments		11.2	%	10.7	%	10.7	%	10.8	%	10.8	%
Borrowing rate		5.2	%	5.7	%	5.8	%	5.9	%	6.0	%
Growth in income from commissions		9.5	%	13.7	%	13.1	%	17.7	%	5.2	%
Growth in expenses		10.7	%	5.9	%	6.7	%	8.0	%	7.9	%
Inflation		5.3	%	3.0	%	3.0	%	3.0	%	3.0	%
Discount rate after taxes		13.2	%	12.1	%	10.8	%	11.4	%	11.3	%
Growth rate after five years		6.1	%	​		​		​		​	​

​

​

​	​	​	​	​	​	​	​	​	​	​	​
December 31, 2023
​	​	2024	​	2025	​	2026	​	2027	​	2028	​
Lending rate on the loan portfolio and investments		12.1	%	10.8	%	10.2	%	10.0	%	9.8	%
Borrowing rate		7.1	%	5.5	%	4.9	%	4.7	%	4.5	%
Growth in income from commissions		16.0	%	14.7	%	14.1	%	11.3	%	11.2	%
Growth in expenses		11.7	%	8.3	%	7.9	%	6.2	%	5.6	%
Inflation		5.8	%	3.5	%	3.2	%	3.1	%	3.1	%
Discount rate after taxes		16.5	%	13.7	%	12.4	%	11.3	%	11.6	%
Growth rate after five years		6.5	%	​		​		​		​	​

Banco Popular S.A.

Disclosure of reconciliation of changes in goodwill [line items]

Schedule of main assumptions used in the latest impairment tests of the groups of cash-generating units with allocated goodwill

​

​	​	​	​	​	​	​	​	​	​	​	​
December 31, 2024
​		2025		2026		2027		2028		2029	​
Lending rate on the loan portfolio and investments		11.5	%	11.3	%	11.1	%	11.1	%	11.2	%
Borrowing rate		5.8	%	4.8	%	4.7	%	4.6	%	4.5	%
Growth in expenses		7.4	%	13.7	%	6.8	%	6.5	%	6.4	%
Inflation		3.5	%	3.0	%	3.0	%	3.0	%	3.0	%
Discount rate after taxes		14.5	%	12.4	%	10.8	%	11.4	%	11.4	%
Growth rate after five years		6.1	%								​

​

​

​	​	​	​	​	​	​	​	​	​	​	​
December 31, 2023
​		2024		2025		2026		2027		2028	​
Lending rate on the loan portfolio and investments		12.5	%	12.3	%	12.0	%	11.6	%	10.9	%
Borrowing rate		8.2	%	6.1	%	5.2	%	4.7	%	4.1	%
Growth in expenses		8.3	%	(13.2)	%	1.5	%	7.7	%	7.5	%
Inflation		7.2	%	3.8	%	3.0	%	3.0	%	3.0	%
Discount rate after taxes		17.3	%	13.6	%	12.0	%	11.4	%	11.6	%
Growth rate after five years		6.0	%								​

Banco de Bogota S.A.

Disclosure of reconciliation of changes in goodwill [line items]

Schedule of main assumptions used in the latest impairment tests of the groups of cash-generating units with allocated goodwill

​

​	​	​	​	​	​	​	​	​	​	​	​
December 31, 2024
​	​	2025	​	2026	​	2027	​	2028	​	2029	​
Lending rate on the loan portfolio and investments		10.9	%	10.4	%	10.5	%	10.5	%	10.5	%
Borrowing rate		5.6	%	4.7	%	4.6	%	4.6	%	4.4	%
Growth in income from commissions		9.9	%	13.1	%	12.5	%	15.9	%	6.4	%
Growth in expenses		11.3	%	7.0	%	7.9	%	9.2	%	7.7	%
Inflation		3.5	%	3.0	%	3.0	%	3.0	%	3.0	%
Discount rate after taxes		14.5	%	12.4	%	10.8	%	11.4	%	11.4	%
Growth rate after five years		6.1	%	​		​		​		​	​

​

​

​	​	​	​	​	​	​	​	​	​	​	​
December 31, 2023
​	​	2024	​	2025	​	2026	​	2027	​	2028	​
Lending rate on the loan portfolio and investments		12.9	%	11.2	%	10.5	%	10.3	%	10.1	%
Borrowing rate		7.2	%	5.6	%	4.9	%	4.7	%	4.6	%
Growth in income from commissions		(3.4)	%	14.2	%	14.3	%	11.7	%	11.0	%
Growth in expenses		9.5	%	8.7	%	8.4	%	6.9	%	5.1	%
Inflation		7.2	%	3.8	%	3.0	%	3.0	%	3.0	%
Discount rate after taxes		17.3	%	13.6	%	12.1	%	11.4	%	11.7	%
Growth rate after five years		6.0	%	​		​		​		​	​

Multi Financial Group Inc

Disclosure of reconciliation of changes in goodwill [line items]

Schedule of main assumptions used in the latest impairment tests of the groups of cash-generating units with allocated goodwill

​

​	​	​	​	​	​	​	​	​	​	​	​
December 31, 2024
​	​	2025	​	2026	​	2027	​	2028	​	2029	​
Lending rate on the loan portfolio and investments		6.6	%	6.8	%	6.8	%	6.9	%	6.7	%
Borrowing rate		4.8	%	4.6	%	4.6	%	4.5	%	4.3	%
Growth in income from commissions		(0.7)	%	2.4	%	5.0	%	4.8	%	3.9	%
Growth in expenses		(15.1)	%	9.6	%	2.6	%	1.8	%	1.5	%
Discount rate after taxes		10.7	%	​		​		​		​	​
Growth rate after ten years		5.5	%	​		​		​		​	​

​

​

​	​	​	​	​	​	​	​	​	​	​	​
December 31, 2023
​	​	2024	​	2025	​	2026	​	2027	​	2028	​
Lending rate on the loan portfolio and investments		6.9	%	6.9	%	6.9	%	6.9	%	6.9	%
Borrowing rate		4.8	%	4.4	%	4.3	%	4.2	%	4.2	%
Growth in income from commissions		(22.0)	%	8.6	%	12.6	%	11.7	%	11.9	%
Growth in expenses		(1.6)	%	2.1	%	1.4	%	2.6	%	3.0	%
Discount rate after taxes		11.3	%	​		​		​		​	​
Growth rate after ten years		5.6	%	​		​		​		​	​

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