Inclusive Bank

Under the Inclusive Bank concept, at Bancolombia Group we bring together all the aspects that make up our social dimension.

Inclusive Bank

Creation of value with employees

At Bancolombia Group our priority is our collaborators; the following is further information in this regard:

Wellness, health and safe working spaces

Our strategy contributes to the quality of life of our employees, suppliers and customers by generating safe work spaces, promoting healthy behaviors and wellness programs, favoring individual, family and community development.  

To make this possible, we implement actions that facilitate the balance between work and personal life, promoting physical, mental and social health. By doing so, employees achieve healthy lifestyles within the Occupational Health and Safety Management system, always acting with Responsibility, Respect, Closeness and Integrity. 

Learn about our wellness, health and safe work spaces initiatives 

Risk measurement

a. Through our own methodology, we assess priority risks in the financial sector, such as biomechanical and psychosocial risks, that affect employee health, via the participation of people from different capacities within the organization. Subsequently, we perform in-depth measurements with methodologies validated by experts such as ergonomists, occupational psychologists, occupational health and safety engineers or international organizations. Moreover, we define the respective controls for preventing these risks from materializing into occupational illnesses and accidents. We measure these risks from the beginning of a project or occupational change, while assessing what effects they will have on employee health. We further define actions according to the risk control hierarchy; through continuous measurement, we visualize the impact of the actions implemented over time. 

b. Through the management report, Senior Management follows up on occupational health and safety, and assesses the behavior and results of the comprehensive management system. The internal audit department also monitors compliance with the various obligations it has, ensuring respect for human rights and decent work, and providing sustainability to the organization. 

The occupational health and safety actions are based on GRI Indicators: 403. Which you can view here.

Benefits for employees and their families

Healthy work environment 

We strive for a safe and healthy working environment, which meets the environmental standards for well-being, lighting, noise, air quality, temperature and humidity. These conditions are monitored periodically, allowing us to identify, analyze and reduce occupational hazards. In these environments, employees develop continuous improvement processes, promote and protect their health, develop self-care behaviors. This facilitates their own and their families’ welfare.

In order to take care of these conditions, we implement training activities, support employees and workstation assessments, some of these being:

  • Training courses on good habits in ergonomic issues “Well placed in your position".
  • Workstation assessment by a physiotherapist, in order to correct and assist employees’ proper posture.
  • Publications by internal means related to postural care and hygiene.
  • Talks with specialists on postural hygiene, giving employees the chance to ask questions and resolve concerns.
  • We have a recognition model, as we are convinced of the importance of health, employee work-life balance and the relevance of recognition for human beings. The leaders have a tool that allows them to recognize integrity, job networks and the superior performance of their teams. This is accomplished through days off and additionally, in a corporate manner, we encourage a 360° recognition. We thus contribute to collaborative work, empathy, and definitively to continuous improvement of the work climate in the organization.

We also have protected health areas in our administrative headquarters for emergencies or medical emergencies of employees, suppliers and visitors, contributing to the health and sustainability of our organization.

Headquarters, Medellin, Antioquia, Colombia.

How do we measure it?

  • Risk and hazard matrix.
  • Environmental hygiene assessments.
  • Accident and absenteeism rate.
  • Satisfaction assessment #YTúQuédices view here.
  • Psychosocial Risk Factors Assessment, section: environmental requirements.

Stress management: 

What we do for stress management?

We analyze the causes that impact upon the mental health of our employees and suppliers, assertively developing strategies, preventing and controlling stress, and we encourage each employee to take responsibility for their emotional well-being and social development.

We contribute to health by offering support and training for managing different situations, facilitating a balance between work and personal duties; continuously developing and delivering tools from our Institute of Leaders, which allow us to have healthy teams that generate value for the organization.

How do we measure it?

  • Psychosocial risk factor assessments.
  • Absenteeism rate.
  • Health assessment.
  • Satisfaction assessment #YTúQuédices view here.

Healthy facilities 

We promote healthy lifestyles in the different workplaces and daily lives of our employees. We have strategies that encourage the use of physical conditioning centers, located in our administrative offices or through agreements. We have spaces for collaborative working and we carry out activities in order to give our employees physical and mental rest, such as: active breaks, massage sessions in the administrative buildings floor-by-floor and in the branches, activities for groups with objectives defined by the leader, such as: raising awareness on the importance of physical activity, strengthening team confidence and harmony, training the ability to concentrate, generating an optimal mental state balance, etc.

How do we measure it?

  • Absenteeism rate.
  • Satisfaction assessment #YTúQuédices view here.

Health support 

Our main objective from the moment employees join the organization, until the moment they retire, is to contribute to their health care. For that reason, we offer a wide portfolio that provides employees with the tools for adopting healthy habits that allow them to have a balance between their work and personal lives, so that their health always comes first.

Some of these actions are:

  • Virtual health care training.
  • Health promotion and prevention portfolio: nutrition, emotion management, periodic evaluations, executive check-ups, cancer prevention awareness programs, cardiovascular care programs.
  • Agreements for mental, physical and oral health care, among others.
  • Talks with health experts, virtual psychological consultation.
  • ConSentido de Vida [WithLife Sense] Program: designed exclusively for employees who, due to their health condition, need special and comprehensive support, through which we manage to contribute to the quality of life of these employees in a preventive and personalized manner.


Through our Promotion and Prevention programs, we have implemented measures to strengthen healthy habits in the nutrition and health of our employees. This is done through professional support, such as: newsletters with content prepared by experts, with the possibility of employees being able to ask questions and receive personalized answers to their emails, appointments with a nutrition expert at no cost. Additionally, we have executed several agreements with various Fitness Centers for employees and their families. We help employees to pay for this service by offering them financial aid, by this amount being deducted from their payroll for greater convenience.

How do we measure it?

  • Medical assessments.
  • Absenteeism rate.

Flexible hours 

To facilitate the balance between personal and work life, we have a working week of 43 hours: 5 hours less than that stipulated in the country.

Additionally, leaders have 4 days per year per employee, which allows recognizing them according to the dynamics of the business and the expertise of the employee.

Flexible ways of working 

Employees can apply for any of the working modes offered by the organization, including: Supplementary teleworking, mobile, self-employment or flexiwork, depending on the involved processes. The organization provides all the tools or financial assistance for proper functioning and welfare.

Additionally, according to the evolution and needs of each employee, solutions are generated to facilitate the employee balance between personal and work life, according to the activities they carry out

Support in maternal and paternal roles 

We have different strategies that allow parenting to be facilitated and have emotionally and physically healthy foundation. We achieve this by providing employees with practical advice that they can apply at any time in their lives, thus generating positive impacts on employees and all the people around them.

In relation to work spaces, we set up breastfeeding rooms as pleasant places and meeting all their needs. In addition, benefit programs have been established that include assistance for: birth, death of children, parents, siblings and spouses, financing for eyeglasses, notary fees for house purchases, education up to the age of 25, education of children with special abilities and personalized psychological counseling for parents and children on topics such as: addiction, sexuality and adolescence management.

The benefits also include special days such as: a day at the office with mom and/or dad and the family Christmas celebration, where a gift is given for each child in the family.

We also set up meetings for couples to improve their relationships and family consolidation. We also provide training on topics such as: healthy pregnancy and the importance of a good relationship for raising children.

In countries such as El Salvador, Panama and Guatemala, employees have the possibility of enjoying 2 additional days to those recognized by the local legislation for paternity leave, ensuring that all employees enjoy the same benefit, regardless of the country they are located in.

Financial health 

We support our employees in the pursuit of their dreams, providing special rates on loans for: housing, education, vehicles and general purposes, and we encourage savings through a mutual fund in which the employee receives from the organization a contribution equivalent to an additional 50% on the amount of their savings. Likewise, we offer personalized financial advice that allows our employees to develop the necessary knowledge for proper financial planning.

Social assistance 

In order to reach each of the places where our employees are, with similar activities and programs that generate inclusion, budgets are assigned taking into account the demographic characteristics, the culture of each region and its social needs, thus allowing us to deliver tools that generate a balance between the work and personal life of employees and their families.

We also have our Fundación Bancolombia [Bancolombia Foundation], which encourages empathy and social responsibility among employees, supporting the community in important issues such as education, entrepreneurship models, partnership management and cooperation. Learn more at

Supporting employees nearing retirement 

As a sign of recognition and social responsibility, we support our employees who are nearing retirement with training from an emotional, physical and financial aspect, which allows them to approach this new stage of their lives in a healthy way. Likewise, employees who are enjoying their retirement have access to benefits that seek to preserve their health and keep them informed and active in facing different changes in life and the world.

Integration and recreation 

We provide our employees with a range of recreational, cultural, social, vocational, sporting and training activities, which enable them to enjoy a healthy lifestyle, not only for themselves, but also for their families.

In order to make this offer more extensive, we also promote the activities carried out through the Compensation Funds, providing financial assistance to employees and the formalization of agreements with different entities that offer recreational, sports and training services for employees and their families.

How do we measure it?

  • Satisfaction assessment #YTúQuédices view here.
  • Psychosocial Risk Factors Assessment, section: Rewards.

Insurance and health policies 

We have an employer and accident insurance for all employees of the Bank. In addition, we give aid for their health policies at 75% of the policy value with a ceiling of 25% of the SMMLV (Salario Mínimo Mensual Legal Vigente [Applicable Monthly Legal Minimum Salary]), and aid for their home, vehicle and complementary health plans. Within this large portfolio, we also find a very special offer for oral care, with special prices for our employees: Oral Home. In this way we also contribute to the health care of the employee and their family, and contribute to their healthy finances.

Support in the employee’s professional role and their family (Education) 

In order to support our employees in their professional growth, we designed a portfolio that allows them to continue with ongoing studies.

  • Colegio Fundación Centenario Banco de Colombia [Banco de Colombia Centennial Foundation School], gives the children of employees located in the city of Bogotá the possibility to study, commute and eat with an exclusive economic benefit for our employees, contributing in this way to the education of these children and youths.
  • Corporate foreign scholarship.
  • Strategic knowledge scholarship.
  • Master’s scholarship in the headquarters’ country.
  • Westfield scholarship.
  • Free non-mandatory virtual training in: finance, design, leadership, storytelling, etc.
  • Agreements with different language training centers and institutions and universities for continuing education.

How do we measure it?

  • Total courses offered.
  • Program assistance rate.

Testimonials of our employees

  • Executive check-ups: “Thanks to Bancolombia’s invitation, I have been participating in the executive check-up program. This program has not only been useful for understanding that my health depends mainly on myself according to my life habits, but it has also allowed me to develop routines and follow-ups to permanently assess my health status and the impact of my life habits upon it.
    I invite all Group employees to take advantage of the different programs that this Department offers for the benefit of each one of us”.

          - Enrique,  vice president, 19 years in the organization.

  • itness Center: “Having a healthy lifestyle is the foundation of quality of life; exercising and eating properly are key to feeling and looking good. The principle of developing a healthy lifestyle lies in being committed, dedicated and consistent. And all this leads to important effects such as: good health, increased energy, vitality, better mood, stress reduction and better rest”.

          - Marcela, Analyst III, 8 years in the organization.

  • Flexible hours: “Having a flexible working hours has allowed me to better plan the activities I need to complete every day, and better control my personal life. Thanks to this, I have more time to spend with my son and family, and to do other activities that I enjoy. This allows me to have a balance between my job and my personal life.

          - Claudia, Administrative assistant, 25 years in the organization.

  • Active breaks: “Active breaks help me reduce the stress, tension and fatigue that my body accumulates. This gives me satisfaction, because these breaks are designed for both body and mind. For this reason, I often take active breaks at different times during my shift, and I always encourage my team to participate when we are invited, thinking of their own health”.

          - Maria, Section Head, 18 years in the organization.

Financial Inclusion

Our Strategy

We want to help and contribute to improving the lives of our clients, including people, families and businesses, building an adequate proposal of value for the segments that until now have not been served by the financial sector or our current clients that, given their social and economic characteristics, require a financial model suitable for them.

Our strategy focuses on democratizing and examining the Bank through various financial inclusion programs that aim to achieve:

  • The growth of customers in which the Bank is their first financial experience. Getting to the Base of the Pyramid – Banking Services
  • Improve customer experience with an adequate value proposal which facilitates access and use.
  • Geographical expansion
  • Financial education to bring the bank closer to the lives of customers
  • Social growth as a responsibility of the whole Country


Challenges for our strategy 

  • Continue to be the market leader faced with new competitors.
  • How can we achieve an efficient and relevant business model to reach the rural sector?
  • Support the objective of reducing cash from 11.7% to 8.5% by 2018.
  • Sustainable growth of the credit business.
  • Focus of value proposal on communities both in Colombia and abroad.
  • Banking outlets as a trade network
  • Financial education as a prerequisite for responsible use and customer recommendation.
  • Growth of services for micro-entrepreneurs in the traditional network.
  • Deepen the relation with our current customers.

What we have learned 

This is what we have learned about financial inclusion. It has become the basis to build our golden rules:

  • Customers’ interests come first, otherwise unreliability increases!
  • Teaching about finance is key, not secondary.
  • Inclusion also looks to the future: new technologies.
  • New competitors are welcome but competition must be regulated for the benefit of the customer.
  • Communities are fundamental for ensuring sustainable growth: credit alone does not address the customer’s needs.
  • The maximum fees for financing prevent more inclusion from assets.
  • Taxes imposed on the use of money in the financial system promote the culture of unlawful cash.
  • Public–private commitment is fundamental for real and efficient progress.
  • Partnerships are key for efficiency and flexibility.
  • The holistic view of the inclusion environment ensures that both those in the country and those who are abroad are included.

Highlights of our financial inclusion

Regulatory framework  

  • It began with “microcredit” in the year 2000.
    • Law 590 of 2000, through which the special micro-finance methodology of “Microcredit” is recognized, and which is supported by the MSME commission for micro, small and medium-sized enterprises High Council for Micro-enterprises that regulates the payment of commission.
  • Introduction of Decree 1133 of 2006 which facilitates Banking Correspondents./li>
  • The Electronic Savings Accounts were created in 2008 with Decree 4590 and then Supervision began regulating the Simplified Process in 2010.
  • 2012… Regulation of Banking Outlet services develops:
    • Introduction of Decree 2672 of 2012 and Notice 029 of the financial monitoring body, Superfinanciera.
    • Then the External Notice of the Superintendencia Financiera issued a notice on the marketing of products and services over the internet.
  • In 2014, Small Amount Credit was created, with Decree 2654 of 2014 and Law 1731 of 2014 was introduced, aiming to reactivate financing for the Agrocultural Sector.
  • Law of Financial Inclusion: Law 1735 of October 21, 2014.
  • In 2015, the Intersectoral Commission for Financial Inclusion is created through Decree 2338.
  • Decree 2076 of 2017 allowed simplified processing savings accounts, such as Ahorro a Mano, to receive subsidies, regardless of the amount.

We promote financial inclusion

Several years ago, we identified the various needs of those who are part of remote communities and regions, such as saving or getting credit to solve the unforeseen problems that arise in daily life, or to make their personal dreams or those of their families come true, such as buying property, investing in their businesses, going on vacation or giving their children Christmas and birthday presents.


These are the numbers that show us that it is possible to bring financial solutions with benefits to people and places that need it most.

  • Total balance of savings at the hand accounts: $33.503.029.886. 
  • Current portfolio balance of Bancolombia of Microcredit: $ 629.730.884.062
  • Average of dollars received in family remittances (USD): 209.081.876
  • Number of savings accounts open for Colombians abroad: 5.241.
  • Share of the family remittances market: 45%.
  • Total mortgage payments from Colombians abroad: COP 249.576 Millions.
  • Income from family remittance:  COP 93.658 Millions.


Social Benefits 

  • % of Share of banked individuals served by the Savings on Hand product: 19%. 
  • % of women customers of the savings on hand product: 59,99%.
  • People impacted by Bancolombia Microcredit: 44.788. 
  • People impacted by Family remittances: 301.414 per month.
  • People receiving service in a banking Correspondent: 3.123.858. 
  • Number of savings at hand product accounts: 772.561.
  • People we have treated with selling products in rural populations: 
  • Farmers trained in financial education through an agreement with the institution Banco2: 2.145.
  • # of persons benefited with Low amount credit: 9.475

Commitments and Adhesions

At Bancolombia Group we have a series of Commitements and Adhesions to a set of international principles of sustainability.


At Bancolombia Group we have received several local and international recognitions.