Juan Carlos Mora, president of Bancolombia, delivered more details on Tuesday on the next steps to take for the formation of the Cibest groupthe new financial holding company under which the entity will operate from this semester.
In call with investors, Mora said the expectation is that “At the end of May, everything is in its place “in front of the new Cibest group and present to the June Shareholders Assembly the Actions Repurchase Program.
“As I mentioned, we are planning to present an offer to repurchase shares for US $ 300 million. We will present it at the June meeting“Mora said before investors.
“In our next conference we will present the results of Cibest. So the results of the second quarter will be those of Cibest due to our corporate evolution“Mora complemented.
It is worth remembering that this Monday, Bancolombia announced through a document in the Financial Superintendence that on May 16 will be established for the formation of the Cibst Groupimmediately at the close of the market of that day.
In other topics, the president of Bancolombia also gave clues about what is expected for some of his products, being Nequi, one of them. The executive stressed that they hope to add 2.1 million users to the Neobanco with the merger with Bancolombia at hand until reaching 23.5 million customers.
“In addition, when centralizing operations on a single platform, we will obtain operational efficiencies by avoiding the duplication of efforts and, in turn, we will increase the scalability and generation of income from Nequi, which will contribute to its profitability potential. In fact, after the merger, Nequi will increase its deposits by almost $ 700. 000 million and provides a credit portfolio will increase by $ 130,000 million by the end of 2025 “Mora pointed out.
Related news :