Grupo Cibest earnings date
Grupo Cibest (CIB1N) Q3 2026 Earnings Report
MX:CIB1N Q3 2026 EPS Results
- Actual EPS
- MXN 51.25
- Consensus EPS
- MXN 53.43
- Beat/Miss
- Missed by -MXN 2.18
- One Year Ago EPS
- MXN 44.01
MX:CIB1N Q3 2026 Revenue Results
- Actual Revenue
- MXN 69.53B
- Expected Revenue
- MXN 45.91B
- Beat/Miss
- Beat by +MXN 23.62B
- YoY Revenue Growth
- +35.36%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/05/2026
- Time
- TBA
- Conference Call
- Thursday, November 5, 2026
Grupo Cibest's next earnings date is estimated for May 10, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was predominantly positive. Grupo Cibest delivered strong profitability, raised 2026 loan growth guidance, reported robust annual loan and fee growth, maintained solid asset quality and capital levels, and highlighted significant scale and operating leverage at Nequi. The main challenges were Colombia's difficult fiscal and inflationary environment, tight monetary conditions, quarterly NIM compression, higher provisions, expected cost-of-risk pressure in 2027, and moderation in consumer lending. Management nevertheless stated that fourth-quarter trends were positive and that the group was well prepared for 2027 challenges.
For 2026, Grupo Cibest revised loan growth from a range of 7% to 8% to a range of 8% to 9%, with all other guidance items unchanged; for 2027, it projects loan growth of 9% to 10%, NIM of 7.5% to 7.7%, cost of risk of 1.9% to 2.1%, and an efficiency ratio of 46% to 47%. Net income should be around COP 8.5 trillion in 2026, with 2027 growth between 8% and 10%, or either COP 9.2 trillion, COP 9.3 trillion, supporting 21.5%, 22% ROE guidance; long-term ROE should be around 20%, with loan growth above nominal GDP, NIMs between 6.5 and 6. 7 or 6.8 approximately, inflation of 4%, a 29% to 30% tax rate, and cost of risk around 2%. For Nequi, ROE is expected to reach 28% in 2026 and between 28% and 30% in 2027, while managerial net income should be between COP 160 billion or COP 180 billion in 2026 and above COP 250 billion in 2027; net fees for next year should be around 12%, with revenue on fees and fee expenses both growing between 10% to 12%, and the fee income ratio should reach figures closer to 25%, with somewhere between 20% and 25% reasonable to project.
- Strong Third-Quarter ProfitabilityNet income reached COP 2 trillion in the third quarter, with year-to-date net income up 10.5% despite the absence of Banistmo's contribution. Quarterly ROE was 21.7%, while consolidated net income represented a 22% ROE and ROE increased from 18% to 22% year over year.
- Higher Loan Growth OutlookGrupo Cibest raised its 2026 loan growth guidance from 7%-8% to 8%-9%, reflecting stronger demand for commercial loans in Colombia. The company expects 2027 loan growth of 9%-10%, again led by Colombian commercial lending, provided the fiscal deficit narrows in an orderly and gradual way.
- Broad-Based Loan Portfolio ExpansionGross loans reached COP 274 trillion, increasing 4.3% quarter over quarter and 9.7% year over year, or 13.5% excluding FX. Commercial loans grew 5.5% quarter over quarter, consumer loans increased 2%, and mortgages expanded 2.1%.
- Commercial Lending Demand ReboundedCredit origination rebounded sharply, led by commercial loans as confidence grew in the rule of law and security and expectations increased for a credible path to fiscal adjustment. Management said commercial loan demand remained strong in the fourth quarter, with companies preparing new projects and expecting greater economic activity in 2027.
- Resilient Deposit Base and Funding MixTotal deposits reached COP 275 trillion, growing 1.5% quarter over quarter and 8.6% year over year, or 13% excluding FX. Sight deposits represented 57% of total funding, providing a structural advantage in containing funding costs.
- Strong Annual Net Interest Income GrowthAlthough quarterly net interest income declined 4.9% to COP 5.7 trillion following the normalization of exceptionally strong treasury income and lending NIM compression, net interest income increased almost 16% year over year while loans grew 9.7%, underscoring the group's intermediation capacity.
- Diversified Fee Income GrowthNet fee income reached COP 1.4 trillion, increasing 1.6% quarter over quarter and 15.5% year over year. Fee growth was broad-based, with bancassurance increasing 17% year over year and 3% quarter over quarter, supported by the SURA alliance. Fee expenses decreased quarter over quarter and year over year due to ongoing efficiency initiatives.
- Expense Discipline and Efficiency InitiativesOperating expenses increased only 0.3% quarter over quarter. Year-to-date expenses grew 8.7%, or approximately 5.2% excluding the wealth tax, close to 1 percentage point below inflation. The consolidated cost-to-income ratio was 46.6%, and management continues to pursue structural efficiency initiatives.
- AI Program AcceleratingThe company said its AI program is accelerating adoption across the organization to enhance productivity and support a more scalable operating model.
- Nequi Reached Scale and BreakevenNequi has more than 29 million users, with an activity ratio above 80%. As of the third quarter, it had 24 million active users and 18 million monetized users. Nequi reached breakeven in late 2025 as higher engagement and transaction volumes drove operating leverage and cost dilution.
- Nequi Stand-Alone Growth and CapitalizationFollowing its September 1 separation from Bancolombia, Nequi's loan book expanded 12% during the quarter to COP 2.5 trillion, while deposits were COP 6.9 trillion, up 24% year over year. Grupo Cibest allocated COP 600 billion of capital to Nequi, implying a total solvency ratio of 13%.
- Nequi Operating Performance and OutlookNequi's net interest income increased 5.3% in the quarter, with NIM at 18.1%, or 16.8% excluding a one-off related to the spinoff. Third-quarter net income was COP 33 billion and ROE was 23%; excluding spinoff-related one-offs, net income would have been COP 41 billion and ROE 28%. Management expects ROE of 28% in 2026 and 28%-30% in 2027.
- Nequi's Broad Market ReachSeven out of 10 Colombian adults have a Nequi account, 3.9 million users have Nequi as their only account, 65% of account holders are not Bancolombia customers, and 42% of payments in the Bre-B ecosystem come from Nequi. Management expects Nequi to reach 30 million customers soon and to increase average deposits by adding products and services.
- Corporate Milestones and Capital OptimizationThe company completed the separation of Nequi from Bancolombia on September 1, making Nequi an independent commercial financing company wholly owned by Grupo Cibest. In July, Bancolombia completed an intra-group additional Tier 1 capital instrument transaction that contributed 44 basis points and improved capital efficiency.
- Solid Asset Quality and CoverageDelinquency ratios remained well contained and declined meaningfully year over year. Stage 1 exposures increased while Stage 2 and Stage 3 exposures declined. Coverage was 131% for overall expected losses, 195% for 90-day past-due loans, and asset quality remained in line with guidance.
- Resilient Capital PositionShareholders' equity reached COP 39 trillion, up 1.7% quarter over quarter. Bancolombia's stand-alone solvency ratio remained relatively stable at 13.7%, while the AT1 issuance and earnings generation offset the extraordinary dividend and growth in risk-weighted assets.
- Positive Cross-Border Lending MomentumCross-border lending continued to expand through offshore operations. As of September, BAM's cross-border loan portfolio grew 63% year over year, while Bancoagricola's expanded 13%.
- Constructive Central American PerformanceEl Salvador's growth accelerated to 5.1% year over year in the second quarter of 2026, supported by investment and double-digit construction growth. Guatemala's growth remained robust at 4.3%, supported by domestic demand, remittances, manufacturing and exports.
- Long-Term Return and Capital TargetsManagement targets a long-term ROE of approximately 20%, based on loan growth above nominal GDP, NIM of approximately 6.5%-6.8%, 4% inflation, a 29%-30% group tax rate, and long-term cost of risk of around 2%. The company expects 2027 ROE of 21%-22% and efficiency of 46%-47%.
- Potential Investment and Lending OpportunitiesManagement said Colombia's proposed RUGE program and other fiscal measures could support investment. Investment is expected to grow 3.5% in 2026 and 4.7% in 2027, bringing investment to approximately 17%-18% of GDP next year. Management also said changes to Colombia's consumer lending cap could expand access to credit and marginally increase margins.
MX:CIB1N Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| May 10, 2027 | 2027 (Q1) | ―- | 30.86 | ― | ― |
| Nov 05, 2026 | 2026 (Q3) | 53.4351.25 | 44.01 | 16.44% (+7.24) | |
| Aug 10, 2026 | 2026 (Q2) | 44.4668.14 | 34.51 | 97.47% (+33.63) | |
| May 04, 2026 | 2026 (Q1) | 35.3830.86 | 31.68 | -2.58% (-0.82) | |
| Feb 23, 2026 | 2025 (Q4) | 37.80-38.90 | 31.7 | -222.71% (-70.60) | |
| Nov 06, 2025 | 2025 (Q3) | 33.7144.01 | 26.7 | 64.88% (+17.32) | |
| Aug 06, 2025 | 2025 (Q2) | 30.9934.51 | 27.74 | 24.41% (+6.77) | |
| May 05, 2025 | 2025 (Q1) | 29.8831.68 | 33.08 | -4.22% (-1.40) | |
| Feb 19, 2025 | 2024 (Q4) | 25.8831.70 | 28.63 | 10.72% (+3.07) | |
| Nov 07, 2024 | 2024 (Q3) | 26.4326.70 | 28.33 | -5.78% (-1.64) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
