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Inclusive Bank

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

Inclusive Bank

Human Meaning Statement

We want to be a more humane financial group, where relationships among individuals are based on trust and our leaders act with respect and love for their teams and their clients.

Our Premises

Our employees are the starting point of our institution. Thus, we work to strengthen the trust, respect, listening and compliance in such a way that they feel satisfied with us while we are capable of generating better results.

Likewise, our main guideline for our action is the respect for human dignity since in this way a high performance of teams is achieved, that is also supported by our leadership style founded on a humanistic perspective through which we facilitate the personal and job development of our collaborators but making them accountable of their transformation to transcend, all of which has an impact on social transformation.

Culture Map

In the process of transformation, at Bancolombia Group we have declared to be a growing, sustainable, profitable, efficiency-committed and people-based organization. This declaration arises to humanize the banking through the values that allow us to consolidate a culture based on trust relations.

Consequently, we live the culture -intangible asset- as the materialization of corporate values and as the best opportunity to generate value on talent, which is reflected on the behavior of employees and on the forms of work that leverage the development of our corporate purpose.

In this regard, we have built the Culture Map; a working scheme that guides our action and that intends to materialize the organization strategy through seven components:

  • Common purpose and meanings.
  • Shared values.
  • Forms of work.
  • Interaction with clients.
  • Communications and relations.
  • Concept of the human being.
  • Style of leadership.

Target and Social Reporting

We are a financial institution which aims to transform society, so we seek to transcend our economic role to be agent of social development and thus positively impact the community.

Social Report

An organization seeking to transform society must not only be clear about the focus of its strategy but it must also act in keeping with its philosophy. This is why we take a responsible view and act, going beyond our purely economic role to become drivers of social development and positively transform society. Find here our Social Report.

Corporate Citizenship

Find here the impact of Bancolombia Foundation in order to build country. (Spanish)

Life Quality, Health, Security and Well-being

At Bancolombia Group we have a process to manage the work security and health oriented to a healthy institution in order to have good working conditions, a harmonious working environment that facilitates our purpose of becoming an Ever-More Human Banking group and have healthier collaborators who, through their work and life style, enhance their development. For such purpose, we conduct identification, assessment and intervention processes of risks that might have a negative impact on people’s health and safety.

This is our Life Quality Policy and risks that we have defined in the Group.

Health, safety and well-being initiatives

1. Stress-management information

The Grupo Bancolombia has a system that keeps track and defines intervention actions to a better risk and prevention management of the effects that impact health (like stress) with activities that are develop in multiple areas of the work life of the employees, which are given to employees, bosses, and providers so they take care of their health.

2. Stress-management training

In Grupo Bancolombia we give tools that allow people to be conscious about the importance of taking care of our health and in the leadership institute we teach the bosses skills so they know have to embrace a “Healthy leadership”.

3. Healthy working environment initiatives

In Grupo Bancolombia we have work places with comfortable conditions that allow the development of the different work process in an ergonomic way, where the spaces are adapted to the physical and mental conditions of the employees, tending always to protect health.

The conditions of the work places are characterized by:

  • Having illumination between 500 and 700 Luxes per work desktop
  • About noise, the audition pressure is below 70 Db(A)
  • Indoor air quality is free of particular matter and the oxygen concentration is adequate to conserve human life, and it`s also free of toxic substances. 
  • Temperature is between 21° a 23° C
  • Humidity does not exceed the 60%. 

All this conditions are periodically checked.

4. Fitness facilities or contributions to external fitness programs

To promote healthy lifestyles in the different work places and the life of our employees, in Grupo Bancolombia we have strategies that allow the use of fitness centers located within the facilities and agreements with others gyms outside; they also have collaborative work spaces and active physical and mental breaks.

5. Health / nutrition provisions

In Grupo Bancolombia we contribute with health fomenting a healthy and balanced alimentation, with promotion and prevention programs so the employees are able to achieve their healthy goals. Within the main building, a supplier was contracted to adapt a dining room and provide balanced meals.

6. Flexible workforms

Telecommuting is challenging for organizations on the financial sector; however, our organization is looking to balance personal life and work and that’s why we have been fomenting telecommuting with our employees, especially in the process where we can guarantee safety and based on the risks for the continuity of the operation; this way, some employees can work from home (3-4 days a week). We go to their houses to analyze the conditions of their homes and check if the familiar dynamics aren’t affected by this workform.

On March 2018, a pilot called Flexiwork ended; this pilot looked for more flexible workforms and ways to allow the employees to work from 0 to 16 hours per week in the space they choose. We are now checking the probability to implement it.

7. We accompany our collaborators in their maternal and paternal role

In Grupo Bancolombia we have different strategies that allow parenting to be easer, such as a definition of times to assume the new role, formations that provide tools for the development of being a father or mother, conditioning of spaces such as breastfeeding rooms, and monetary assistance. In addition, we accompany parents by providing them with tools that contribute to the education of children and young people. In Bogotá city, employees have access to a school that is also part of the different strategies and activities that promote the integration between the family and the collaborator, promoting social development.

8. Other

There are segmented budgets according to the demographic characteristics and the employees´s social needs in the different business units, in order to provide quality of life experiences as a recognition for high performance and for balance between work and personal life of employees; these activities are developed during work hours and are mainly recreational, ludic, sports, cultural, social and family activities. 

In order to contribute to a healthy and sustainable organization, we have health protected areas for healthcare employee or visitor emergencies or urgencies at the different work sites. 

We offer support programs for elderly people with preparation for retirement and support during the retired life with recreational, cultural and healthcare programs.


  • Executive checkups: “Thanks to the invitation of the Life Quality Department, I have been participating in the executive checkup program. This program has not only been useful to understand that my health depends mostly on myself based on my life habits, but it also has allowed me to build routines and follow-ups to permanently assess my health state and the impact of my life habits on it.

    I invite all the Group’s employees to take advantage of the different programs offered by this Department in benefit of each one of us.”

    - Enrique, Vice-President, 19 years in the organization.
  • Gym: “Having a healthy life style is the basis of life quality, exercising and eating adequately are the key to feel and look good. The principle of developing a healthy life style lies on being committed, dedicated and constant. And all of this leads to generating important effects such as: a good health, higher energy, vitality, a better mood, stress reduction and having a better rest.”

    - Marcela, Analyst III, 8 years in the organization.
  • Flexible hours: “Having a flexible work schedule has allowed me to have a better plan of the activities I need to complete every day, and a better control of my personal life time. Thanks to this, I have more time to spend with my son and with my family, and to do other activities I enjoy, which allows me to have balance between my work and personal life

    - Claudia, Administrative Assistant, 25 years in the organization.
  • Active pauses: “Active pauses help me to reduce the stress, tensions and tiredness that my body accumulates, they produce satisfaction with myself because these pauses are designed for both body and mind. For this reason, I often take active pauses in different moments over my shift, and I always encourage my working team to participate in them when we are invited, thinking about their own health.”

    - María, Head of Section, 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.