Grupo Bancolombia
Sustainability
Our Strategy
We want to contribute to our client’s lives (individuals, families, and companies), building a value proposition suitable for those segments the financial sector has not served. Our strategy seeks to achieve client growth for those with their first financial experience, improving it with a user-friendly proposal, achieving geographic expansion, providing financial education to bring it closer to our client’s lives, and fostering social growth as a responsibility for the whole country.
Financial Inclusion - Savings at Hand
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Personal accident insurance
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Credit at hand: Innovation in financial inclusion
Challenges for Our Strategy
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Profitable program growth
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Financial education
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Rural sector leading changes
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New competitors
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Cash reduction
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Rethinking business
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Our Products History
In our sustainability procedures, it is also important that we fully know our clients and that their principles are aligned with ours.
This is what we have learned about financial inclusion in our history, thus, becoming the basis for building our golden rules:
- The holistic view of the inclusion environment ensures that both those at home and abroad are included.
- The interests of our customers come first, otherwise unreliability would increase.
- Finance education is key.
- Inclusion must also take into account new technologies and innovation.
- New entrants are welcome, but competition must be regulated for the benefit of the customer.
- The maximum rates for financing prevent the greater inclusion of assets.
- Taxes on the use of money in the financial system promote the culture of illegal money.
- Public-private engagement is essential for real and efficient progress.
- Partnerships are key to efficiency and flexibility.
- Communities are essential to ensure sustainable growth: credit alone does not respond to customer needs.
Regulatory Framework
Throughout our experience, we have abided by the laws that regulate financial institutions:
- In 2015, the Intersectoral Commission for Financial Inclusion was created through Decree 2338.
- In 2014, the law on Financial Inclusion: Law 1735 of October 21, 2014. • In 2014, the Small Amount Credit was created through Decree 2654 of 2014 and Law 1731 of 2014 introduced to reactivate financing for the Agricultural Sector.
- 2012 The Correspondent Banking Services Regulation develops: 1. Introduction of Decree 2672 of 2012 and Notice 029 of the financial supervisory body, Superfinanciera. 2. Then, the External Notice of the Financial Superintendence issued a notice on marketing products and services through the Internet.
- 2010: The Supervision began to regulate the Simplified Process.
- 2008: Electronic Savings Accounts were created with Decree 4590
- 2006: Introduction of Decree 1133 of 2006 that assists Banking Correspondents.
- 2000: Started with "microcredit" Law 590 of 2000, through which the special microfinancing methodology of "Microcredit" is recognized and which has the support of the Commission for Micro, Small and Medium Enterprises of the Superior Council of Microenterprises that regulates the payment of commissions.
Our Products Report
Indicators
These figures prove that bringing profitable financial solutions to the people and places that need them most is indeed possible.
2021
App Bancolombia "A la mano"
- App Deposit Number “A la mano”: 5,925,223
- The number of active deposits of “A la mano App” is 3,481,443.
- Average closing balance deposits of “A la mano” App 110,798
- Total closing balance of “A la mano” App deposits 656,501,333.7
- Number of “A la mano” App Affiliations: 1,332,372
- Number of SIM affiliations: 498,278