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Ethical Bank

At Bancolombia Group we have a set of aspects that make up the economic dimension, which are grouped under the name Ethical bank.

Corporate Governance

At Bancolombia Group we have a series of principles that rule our Corporate Governance. Further details may be found below:

Supply Chain

Interested people may find information about our Supply Chain here (Spanish).

Measure What matters

If you are a Bancolombia Supplier and you received the invitation to take part, come in and measure the social and environmental impact of your company.

Tax Strategy

Tax Management

Through Tax Management, at Bancolombia we distribute one third of our earnings to local authorities. This is due to the fact that we are in a highly regulated and monitored sector and our organization holds a great relevance as to the local tax collection. Such action is oriented toward the positive impact of the strategy of the Group that is ruled by the ethical framework focused to the permanence by understanding that it is only possible for us to develop in sustainable societies.

Our Vision

At Bancolombia Group we are regional players in the countries where we are present and we will perform in a responsible way our role as taxpayers since we understand that the payment of taxes has a social purpose through which we leverage the development of the communities.

Tax Policy

Our Tax Policy can be consulted here. 

In addition to these policies, the Grupo Bancolombia has policies for specific compliance with tax regulations. Consulted here.

Below there are other tax references of our institution:

20-F Form

Annual Report

Economic Impact

2018

2017

By paying our taxes, Bancolombia Group contributes to the public finance of the countries where we are present.

TAX Reporting

Taxes by geographic regions, profits and income please see years.

2018

2017 

2016   

Effective Tax Rate

Click here to find the report on our paid and reported tax rate of the last two years.

Tax Risk

In order to timely comply with the tax obligations, pursuant to the current standards, at Bancolombia Group we review and analyze the laws, decrees and opinions issued by the local and territorial entities. In the taxable year of 2018, tax considerations regarding the implementation of the Financing Law 1943 of 2018 were taken into account. Full text of considerations, see Note 11 to the Form 20F, number 11.7.3 (page F-110 – F-112). URL: https://www.sec.gov/Archives/edgar/data/1071371/000114420419021114/tv517668_20f.htm

Help to Understand the Reforms

Maintaining our clients, individuals and legal entities updated on tax issues through several programs is the commitment of our Group since this is vital for the harmonious development of the society.

Encourage the Tax Liability

At Bancolombia Group we are involved in debates, public and private forums, summoned by industry associations and regulators addressing tax issues. Through such events, the inquiries with regard to the policies and proposals that impact the industry or the sustainability of the business are stated on a respectful way, and the tax liability is encouraged by understanding the financing impact of the State in the sustainable development of the community.

Data Protection

GRUPO BANCOLOMBIA processes personal data in accordance with Colombian regulations and with the guidelines and international standards established in its Data Protection Policy (the “Policy”). Respecting and protecting personal data of clients, users, employees, suppliers and other individuals whose personal information we collect, use and process is one of our priorities and we have adopted strong principles in that respect. 
 
Click here to find more about our privacy politic 

Customer Privacy Complaints 

GRUPO BANCOLOMBIA is committed with the confidentiality, integrity or availability of our information, including personal data. The measures we adopt always are based on the respect for the data subject rights, in accordance to this, we promote the highest standards of information security in all process we develop and among our collaborators daily labors. 

Under the Data Protection legislation in Colombia, data subjects have the following rights with regards to their personal information: the right to access, to rectification, to restriction or processing, to erasure and the possibility to lodge a complaint with supervisory authorities.

GRUPO BANCOLOMBIA had adopted clear guidelines on data subject requests, we trained our collaborators, and we stay vigilant in order to receive and manage this type of requests. In this sense, a data subject request is a formal demand by a data subject to GRUPO BANCOLOMBIA as a data controller to take an action on their personal data.

In order to comply with our internal Policy, in 2018, we received 2.625 data subject request, and 9 supervisory authority requests.

Investor and Shareholder

The following is information related to our investors and shareholders:

Financial results

Inclusive Bank

Find more about our social dimension.

Ecobank

Our institution holds several aspects that make up the environmental dimension.