Grupo Aval Acciones y Valores S.A. - 1Q2026 Financial Results

Grupo Aval reported a consolidated attributable net income of Ps 336.6 billion for 1Q2026, a decrease of 2.3% from 4Q25 and 6.9% from 1Q25. This decrease was primarily due to a one-time equity tax enacted by the Colombian government, which reduced net income by Ps 210.1 billion and increased operating expenses by Ps 311.7 billion. Excluding the impact of this tax, net income would have been Ps 546.7 billion, a significant increase both quarterly and yearly. The company's loan portfolio grew by 1.5% in the quarter and 6.0% year-on-year, with total deposits increasing by 4.5% quarterly and 11.7% annually. Net interest margin on loans was 4.40% for the quarter. Cost of risk was 1.8%, and loans past due more than 90 days decreased to 3.13%. Efficiency ratio was 53.9% (47.3% excluding the tax impact). Net income from commissions and fees increased by 6.9% year-on-year, and gross profit from sales of goods and services saw a substantial increase of 90.7% compared to 4Q25, driven by the infrastructure sector.