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Bancolombia

Grupo Cibest, Holding company since May 2025

Promoting sustainable development to achieve the well-being of all
Grupo Cibest’s purpose

Grupo Cibest

Bancolombia is Colombia’s largest bank. In May 2025 it put a holding company, Grupo Cibest, above itself and the group’s other businesses: banks in El Salvador and Guatemala, and Nequi, Wompi, and Wenia. Grupo Cibest moves capital between the businesses according to how much each can grow.,

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The holding company

  • Capital allocationUse capital more efficiently, and move it between the businesses according to how much each can grow.
  • BuybacksBuy back shares from time to time, with shareholders’ approval: a programme of up to COP 1.35 trillion over three years, begun in April 2026.,
  • 10 August 2026Net income rose 52% to COP 2.7 trillion, and the annualised return on equity for the quarter was 28.7%.
  • 26 August 2026Shareholders approved an extraordinary dividend of COP 1,271 a share, COP 1.2 trillion in all, paid on 1 September 2026.

Grupo Cibest became the group’s parent in May 2025

Until May 2025, Bancolombia was both Colombia’s biggest bank and the parent of the group. Now Grupo Cibest owns the businesses, and can move capital between them. In June 2026 it sold Banistmo, its bank in Panama, and on 1 September 2026 Nequi began operating as a financing company of its own.,,

Grupo CibestBancolombiaParent and bankNequiBanagrícolaEl SalvadorBAMGuatemalaBanistmoPanamaWompiPaymentsWeniaDigital assets

Bancolombia and Nequi customers hold more than half of Bre-B’s keys

Colombia’s central bank launched Bre-B in 2025, an instant payment system where money is sent to a key linked to an account, instead of the account’s details. By the end of 2025, 96 million keys were registered, and 51 million of them belonged to Bancolombia and Nequi customers.

Nequi accounts, June 2026
28.8m
23.5 million active
Active on Mi Bancolombia
9.5m
in the last 30 days

A key on the board is 1% of the keys registered on Bre-B at the end of 2025. Yellow: held by Bancolombia and Nequi customers.

  1. Separate what grows at different speeds.

    Grupo Cibest was formed so capital can move to the businesses that can grow most, and Nequi now has a licence of its own. We recommend structuring a group so its fastest-growing parts can be funded, led, and measured on their own terms.

  2. Sell what is not strategic, and say what is.

    Grupo Cibest sold Banistmo to focus on its strategic markets, and returned COP 1.2 trillion to shareholders. We recommend naming the markets a strategy is for, and treating the rest as candidates to sell.

  3. Keep the customer’s experience the same through a change of structure.

    Nequi became its own company on 1 September 2026, with no change to the app or how customers use it. We recommend planning a restructure so customers notice nothing, and saying so.

Sources

  1. 1. Grupo Cibest S.A. (2026). Grupo Cibest reports financial results for the second quarter of 2026. Form 6-K, 10 August 2026. sec.gov
  2. 2. Grupo Cibest S.A. (2026). Annual report for 2025. Form 20-F, 8 April 2026. sec.gov
  3. 3. Grupo Cibest S.A. (2026). Grupo Cibest announces the date on which Nequi S.A. Compañía de Financiamiento will begin operations. Form 6-K, 31 July 2026. sec.gov
  4. 4. Grupo Cibest S.A. (2026). Grupo Cibest announces decisions adopted in its shareholders’ meeting. Form 6-K, 26 August 2026. sec.gov
  5. 5. Bancolombia S.A. (2025). Grupo Cibest: video script. Form 425, 2025. sec.gov

Headwater is not connected with Bancolombia or Grupo Cibest. Bancolombia, Grupo Cibest, Nequi, Wompi, Wenia, Banagrícola, BAM, Banistmo, and Mi Bancolombia are trade marks of their owners. Updated 30 September 2026.

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