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美國

證券交易委員會

華盛頓特區20549

表格6-K

外國私人發行人之報告

根據13a-16或15d-16規定

1934年證券交易所法案

2024年8月份

委員會文件編號001-32535

哥倫比亞銀行有限公司

(註冊人名稱之英文翻譯)

Cra. 48 # 26-85

哥倫比亞 哥倫比亞\tMedellín

（總部辦公地址）

請勾選表示，是否申報人將以Form 20-F或Form 40-F作為年度報告的封面進行申報或將要申報。

20-F 表格                     40-F 表格 

若依照Regulation S-t Rule 101(b)(1)規定指定，請打勾表示提交紙本6-k表格：___

若依照Regulation S-t Rule 101(b)(2)規定指定，請打勾表示提交紙本6-k表格：___

請勾選項目，以示證明依據1934年證券交易法第12g3-2(b)條規，在此表格中提供的信息亦因而提供給委員會。

是                     否 

如果標註為“是”，則請在下方指出與第12g3-2(b)條規相關的向登記者分配的文件號碼：82-                    .

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簽名

根據《證券交易法》的要求，申報人已經授權簽署此報告，且得到了授權。

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季度報告

2024年4月至6月

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哥倫比亞銀行有限公司

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地址：

Carrera 48＃26-85

哥倫比亞 哥倫比亞\tMedellín

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發行人的目前證券 

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截至2024年6月30日

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哥倫比亞銀行（BANCOLOMBIA S.A.）還在紐約證券交易所（NYSE）掛牌了一個三級美國存託憑證（ADR）。每個ADR代表四個優先股。 

GRUPO BANCOLOMBIA美元債券等級   

（截至2024年6月30日） 

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內容

簽名‌2

I. 管理層對發行人的營運和財務狀況結果進行討論，以季度財務報表中報告的結果為比較。‌5

哥倫比亞銀行資產負債表總表‌5

資產‌5

貸款組合‌5

商譽與無形資產‌6

所有基金类型‌6

股東權益和監管資本‌7

淨利息收入‌7

凈利息收益率‌7

服務費和收入‌8

其他營業收入‌8

收到的分紅和利潤份額‌8

資產品質、計提費用和資產負債表實力‌8

營業費用‌9

稅收‌9

Bancolombia S.A.獨立資產負債表‌11

哥倫比亞銀行獨立收入報表‌12

II. 市場風險的定量和定性分析，由於其投資和活動而暴露於市場變動‌12

非交易工具市場風險衡量‌13

利率風險敞口（銀行書籍）‌13

III. 發行人所面臨的除了市場風險以外的風險發生的實質變化，以及實施的機制以減輕這些風險‌14

流動性風險‌14

信用風險‌14

國家風險‌15

營運風險‌16

其他相關風險‌16

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IV. 公司治理分析章節在年度報告中所報告的資訊發生了重大變化‌21

V. 發行人基本報表在報告季度和傳送信息的日期之間呈現的重大變化‌23

VI. 在社會環境標準和指標方面涉及實踐、流程、政策和指標發生了重大變化，包括氣候標準。‌23

VII. 術語表‌23

VIII. 附件‌24

i. 縮短的合併財務報表附註‌24

ii. 獨立過渡性基本報表‌24

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哥倫比亞銀行集團資產負債表

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資產

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截至2024年6月30日，哥倫比亞銀行集團的資產總額為COP 3521990億，較1Q24增長4.5％。此增長主要是由於貸款組合的增長，主要是由商業部門和哥倫比亞折舊率推動。與上一季度相反，流動性過剩更大，這可通過可用現金的增加來證實。

在2024年第二季度，哥倫比亞折舊率兌美元貶值了8.0％，並在過去12個月中升值了0.7％。與1Q24相比，2Q24的平均匯率比上一季度高0.01％，過去12個月則低14.7％。

貸款組合

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在2Q24，毛利貸款較1Q24增長3.0％（排除匯率效應後增長0.5％），較2Q23增長2.7％。過去12個月，以比索計價的投資組合增長了3.6％，以美元計價的投資組合（以USD表示）增長了1.0％。

2Q24在El Salvador的Banco Agricola、巴拿馬的Banistmo和危地馬拉的BAm的營運佔總毛利貸款餘額的26.4％。與哥倫比亞比索以外的貨幣計價的毛利貸款，由中美洲運營產生，哥倫比亞銀行巴拿馬的國際營運、波多黎各和哥倫比亞以美元計價的貸款代表了總組合的32.9％，並在本季度（以USD計算）增長了7.8％。

貸款損失準備在本季度增加了3.0％，總額為COP 166810億，相當於本季末毛貸款組合的6.2％。

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當按每一項操作拆分時，哥倫比亞銀行S.A.在該季度毛貸款組合增長了0.9％，Banistmo增長了0.2％（以美元計算），農業銀行增長了1.6％（以美元計算），而農業市場銀行則減少了0.7％（以美元計算）。商業組合，在哥倫比亞尤為如此，是整體組合增長的主要推動力，主要是由於推出特別信貸額度所致，旨在刺激中型公司和企業的需求，接著是主要是社會住房的按揭貸款。

在FX的淨額下，消費組合在該季度繼續縮減，主要是由哥倫比亞的個人貸款所導致的。但是，在合併基礎上，由於哥倫比亞披索貶值對美元和外國子公司結餘重估的影響，餘額增加了1.9％。另一方面，農業銀行，就像上一季度一樣，是唯一一家消費支出動力較好的機構，尤其是無抵押貸款。危地馬拉組合的減少主要是由商業組合所解釋。

投資組合

截至2024年6月30日，哥倫比亞銀行集團的投資組合總額為305740億哥倫比亞披索，較1Q24增長了7.6％，較2Q23增長了17.5％。關於金融資產投資，哥倫比亞銀行S.A.的債券和回購協議均有所增加。積極的流動性頭寸增加，這是由於與上一季度相比，流動資產的盈餘較高。到2Q24結束時，債券投資組合的久期為17.7個月，到期收益率為9.3％。

商譽與無形資產

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截至2Q24的2024年6月30日，哥倫比亞銀行集團的無形資產和商譽總額為91910億哥倫比亞披索，較1Q24增長了7.8％。這一季度的變化主要是由於披索貶值對美元和外國子公司結餘重估所致。外國子公司。

所有基金类型

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截至2024年6月30日，哥倫比亞銀行集團的負債總額為3119940億哥倫比亞披索，與1Q24相比增長4.2％，與2Q23相比增長3.6％。

顧客存款於2Q24結束時總計2578690億哥倫比亞披索（佔負債的82.7％），較1Q24增長5.3％。這是由於活期存款和定期存款增加，以及外國附屬公司賬戶重述的貨幣貶值所解釋。 2Q24結束時的淨貸款存款比率為97.5％，低於1Q24的99.7％，主要是由於存款增加較大。

存款結構表明定期存款有所增加，0至180天區間的增長最為顯著。活期存款繼續是資金的主要來源，儲蓄帳戶占39％，支票帳戶占12％。由於6月發行了2034年份的80000萬美元次級債券，債券增加，以補償部分回購2025年普通債券和2027年次級債券。

與銀行的貸款在本季度下降了8.3％，主要是由於第二檔貸款人貸款的擴張作為集團負債管理策略的組成部分。

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Shareholders’ Equity and Regulatory Capital

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Shareholders’ equity attributable to the owners of the parent company at the end of 2Q24 was COP 39,219 billion, increasing by 7.5% compared to 1Q24 and 7.3% compared to 2Q23. The increase is due to accumulated earnings during the quarter and the restatement of foreign subsidiaries balances.

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The solvency ratio of Group Bancolombia under Basel III was 12.60% in 2Q24, which was 110 basis points above the minimum level required by the Colombian regulator. The Tier 1 capital ratio to risk-weighted assets was 10.98%, 248 basis points above the minimum regulatory capital level (value to fully comply with the new capital requirements in the fourth year of the Basel III phase-in period) . The increase in solvency levels for the quarter is primarily due to retained earnings. The tangible capital ratio, defined as shareholders’ equity minus goodwill and intangible assets divided by tangible assets, was 8.53% at the end of 2Q24.

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Consolidated Income Statement Group Bancolombia

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Net income attributable to equity holders of the parent company totaled COP 1,440 billion in 2Q24, or COP 1,511.28 per share (USD $1.54 per ADR). This income represents a 13.4% decrease compared to 1Q24, with higher provisioning expenses, increased operational costs, and impairment in associates and joint ventures as the main factors. The annualized return on equity (ROE) for Group Bancolombia was 15.3% for 2Q24 and 16.0% for the last 12 months.

Net Interest Income

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Net interest income totaled COP 5,187 billion in 2Q24, increasing by 0.5% compared to 1Q24. The slight growth in the balance is primarily due to a decrease in interest expenses. Interest income debt instruments and valuation on financial instruments was COP 543 billion, up 18.2% during the quarter. This variation is mainly due to the valuation of the public debt securities portfolio in Colombia and the decrease of interest income from Repos due to lower interest rates.

Net Interest Margin

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The annualized net interest margin for investments in 2Q24 was 2.6% despite a decrease in debt instruments and valuation interest income on the back of lower rates, impacting the group's annualized quarterly net interest margin, which decreased by 8 basis points from 7.14% to 7.05%.

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The annualized quarterly loan portfolio margin was 7.7%, 6 basis points higher compared to 1Q24, and 20 basis points lower compared to 2Q23. The lower loan portfolio yield was favorably offset by a decrease in interest expenses, therefore, resulting in a stable net income generation amid a moderate loan book growth and lower interest rates.

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Savings accounts increased by 4.4% compared to 2Q24 and checking accounts by 4.0%. The annualized weighted average cost of deposits was 4.89% in 2Q24, decreasing by 35 basis points compared to 1Q24.

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During the second quarter of the year, the Colombian Central Bank continued its monetary policy interest rate cuts that began in December 2023. This has benefited Group Bancolombia’s total financing cost, which started a downward trend from the last quarter of the previous year and shows a significant reduction in 2Q24 due to the gradual repricing of interest-sensitive liabilities.

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Fees and Income from Services

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Total fees and commissions during 2Q24 totaled COP 1,030 billion, increasing by 2.9% compared to 1Q24 and 3.2% compared to 2Q23.

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Quarterly, debit and credit card fees, and commercial establishments, increased, banking services, and payments and collections, revealed higher revenues due to a higher volume of transactions and banking operations compared to the first quarter.

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The bancassurance division is the line with the highest growth in fees due to increased fees from policy collection services and profit revenue share by policy distribution.

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The higher commission expenses in the quarter are attributed to growth in banking correspondents and higher transactional volume leading to an increase in service fees to payment system and point-of-sale terminals suppliers, as well as higher royalty fees to credit-debit card franchises.

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Other Operating Income

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Total other operating income was COP 741 billion in 2Q24, growing 17.8% compared to 1Q24. Growth of other operating income is mainly due to better results from exchange rate derivatives in May and June, coupled with the positive investments results that are not included in the net interest margin. On the other hand, income from operating leases was COP 441 billion in 2Q24, a decrease of 3.9% compared to 1Q24 and an increase of 2.5% compared to 2Q23.

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Dividends Received, and Share of Profits

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Total dividends and other net income from equity investments in 2Q24 represented a loss of COP 226 billion. This quarterly decrease is primarily due to impairment charges in associates and joint ventures according to market valuations conducted during the quarter resulting from the weakening credit cycle in Colombia.

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Asset Quality, Provision Charges and Balance Sheet Strength

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The principal balance for past due loans (those that are overdue for more than 30 days) totaled COP 13,503 billion at the end of 2Q24, representing 5.2% of the total gross portfolio, whereas 90-day past-due loans totaled COP 8,949 billion, and represented 3.4% of total gross loans. The 30-day ratio declined across all geographies in their local currency; however, due to the local currency depreciation, it closed the quarter with a slight increase in the balance on a consolidated basis. The 90-day ratio increased mainly due to SME and corporate loans in Colombia reaching past due, and consumer and mortgage loans deterioration in all countries except for El Salvador.

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The coverage, measured by the ratio of allowances for loan losses (principal) to PDLs (30 days overdue), was 112.1% at the end of 2Q24, up from 110.7% in 1Q24. The deterioration of the loan portfolio (new past due loans including charge-offs) during 2Q24 was COP 1,780 billion, largely due to the portfolio in Banistmo. The lower balance compared to 1Q24 is mainly due to the slower deterioration in the 30-day consumer portfolio in Colombia.

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Provisions charges (net of recoveries) totaled COP 1,619 billion in 2Q24, growing 23.1% compared to 1Q24. In general, the higher balance is mainly concentrated in retail companies from the mid-sized segment and construction and specific healthcare clients from the corporate segment. On the other hand, macroeconomic variables led to a release due to updated projections in Colombia.

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Provisions as a percentage of average gross loans were 2.5% annualized for 2Q24 and 2.4% for the last 12 months. Group Bancolombia maintains a strong balance sheet supported by an adequate level of loan loss reserves. Allowances (for the principal) for loan losses totaled COP 15,131 billion, or 5.8% of total loans at the end of 2Q24, increasing compared to 1Q24.

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Operating Expenses

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During 2Q24, operating expenses totaled COP 3,288 billion, reflecting a growth of 3.4% compared to 1Q24 and 3.7% compared to 2Q23.

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The efficiency ratio was 48.8% in 2Q24 and 47.8% for the last 12 months. Personnel expenses (salaries, employee benefits and bonus plan payments) amounted to COP 1,348 billion in 2Q24, which represents an increase of 1.0% compared to 1Q24 and a decrease of 0.4% compared to 2Q23. This is explained by a reduction in bonuses while salaries increased due to the annual adjustment.

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General expenses increased by 5.2% for the quarter and 6.8% compared to 2Q23. Quarterly trends show stable labor expenses and an increase in general expenses due to growth in the rental business and technology fees in Nequi. Annually, the largest variation was in administrative expenses related to technology maintenance and licensing, primarily due to business transformation and cloud migration.

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As of June 30, 2024, Group Bancolombia had 33,887 employees, owned 851 branches, 6,101 ATMs, 34,658 banking agents, and served more than 32 million customers.

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Taxes

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Group Bancolombia income tax for 2Q24 was COP 363 billion, resulting in a lower effective tax rate when compared to the statutory tax rate in Colombia caused by the application of tax benefits in Colombia such as exempt income for social housing in mortgages and investments in productive fixed assets. Additionally, due to the tax benefits in Guatemala, El Salvador, and Panama, corresponding to exempt yields on government-issued securities. Finally, it is worth noting the earnings of the foreign subsidiaries with lower tax rates when compared to Colombia, which also contributed to a lower result.

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Stand Alone Balance Sheet Bancolombia S.A.

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Financial analysis performed with information prepared under full International Financial Reporting Standards, for the purpose of the Consolidated Financial Statements.

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Bancolombia S.A.'s portfolio increased by 0.9% in 2Q24 and 2.2% over the last 12 months. Commercial loans grew by 1.3%, driving portfolio growth due to strong dynamics in the corporate segment and the internal strategy of offering competitive commercial rates in the market. The housing portfolio continues to show good performance and contributed to the growth of balances in Colombia. On the other hand, the consumer portfolio

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maintains the decline trend of recent quarters, contracting by 1.1% in the second quarter, primarily due to personal loans.

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In the funding structure, growth took place across all types of deposits, mainly driven by savings accounts, especially in June, both in retail and corporate segments. Time deposits presented a significant variation, in which online time deposits stood out with the largest increase.

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Stand Alone Income Statement Bancolombia S.A.

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Financial analysis performed with information prepared under full International Financial Reporting Standards, for the purpose of the Consolidated Financial Statements.

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Bancolombia S.A.'s net income for the second quarter of 2024 was COP 1.4 trillion, representing a 17.6% decrease compared to 1Q24. Income from commercial loans decreased mainly due to a lower yield rate. The reduction in interest expenses, due to lower deposit rates, partially offset the income decrease. The increase in provisions during 2Q24 was due to higher expenses in corporate SMEs, and mid-sized companies, the latter primarily explained by specific clients experiencing deterioration. Operating expenses grew by 6.9% for the quarter, driven mainly by outsourcing fees and depreciation. Other operating income presented a significant decrease, primarily due to lower income from equity method and deterioration on associates and joint ventures. The net interest margin for Bancolombia S.A. in 2Q24 was 8.0%, and the annualized quarterly ROE was 15.4%.

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Market risk refers to the risk of losses in the Bank’s treasury book due to changes in equity prices, interest rates, foreign-exchange rates and other indicators whose values are set in a public market. It also refers to the probability of unexpected changes in net interest income and economic value of equity as a result of a change in market interest rates.

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The guidelines, policies and methodologies for market risks management are maintained in accordance with what was revealed as of December 31, 2023.

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GROUP BANCOLOMBIA

The total market risk VaR had an increase of 37.2%, from COP 1,096,000 million in December 31, 2023 to COP 1,503,210 million in June 30, 2024. Increase explained by the exposure to different market risk factors. The risk factor leading the increment is the exchange rate, which registered a greater exposure to the US dollar; followed by the interest rate factor driven mainly by the increase in the portfolio in investments in United States government bonds and local public debt. The collective investment funds factor registered an increase mainly due a greater exposure of the Colombia Inmobiliario Fund, followed by the share price factor due to valuations in investments.

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Market risk exposure has been maintained within the approved levels and is permanently monitored by Senior Management and is an input for the decision-making process to preserve the Bank stability.

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BANCOLOMBIA S.A

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Market risk management at Bancolombia S.A is the same as previously detailed, carried out for Group Bancolombia.

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The total market risk VaR had an increase of 32.5%, rising from COP 965,729 million in december 2023 to COP 1,279,534 million in june 2024, it increase explained by the exposure to different market risk factors. The risk factor leading the increment is the exchange rate, which registered a greater exposure to the US dollar; followed by the interest rate factor driven mainly by the increase in the portfolio in investments in United States government bonds and local public debt. The collective investment funds factor registered an increase mainly due to valuations of the Colombia Inmobiliario Fund. On the other hand, the share price factor registered a decrease due to devaluations in investments.

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During the period there have been no violations of the approved exposure limits and the market risk exposure is permanently monitored by Senior Management.

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Non-trading instruments market risk measurement

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The banking book’s relevant risk exposure is interest rate risk, which is the probability of unexpected changes in net interest income or in the economic value of equity, as a result of a change in market interest rates. Changes in interest rates affect the Bank’s earnings because of timing differences on the repricing of the assets and liabilities. The Bank manages the interest rate risk arising from banking activities in non-trading instruments by analyzing the interest rate mismatches between its interest earning assets and its interest bearing liabilities, and estimates the impact on the net interest income and on the economic value of equity. The foreign currency exchange rate exposures arising from the banking book are provided to the Treasury Division where these positions are aggregated and managed.

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Interest Risk Exposure (Banking Book) 

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The guidelines, policies and methodologies for Interest Risk management are maintained in accordance with what was revealed as of December 31, 2023.

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GROUP BANCOLOMBIA

As of June 30, 2024, the net sensitivity of the banking book in legal currency to positive and parallel variations in interest rates of 100 basis points was COP 563,532 million. The variation in the sensitivity of the net interest margin between December 2023 and June 2024 is presented by the decrease in liability sensitivity due to the reduction in the balance and an extension in repricing terms for CDTs, passive loans, and bonds indexed to floating rates.

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On the other hand, the sensitivity to the net interest margin in foreign currency, assuming the same parallel displacement of 100 basis points was USD 0.7 million and presented an increase between December 31, 2023 and June 30, 2024, due to a rise in fixed-rate sensitive loans and a decline in passive loans at Bancolombia, Banistmo and BAM, which was partly offset by higher deposit accounts and CDTs at Banistmo and Bancolombia Panamá.

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BANCOLOMBIA S.A.

The sensitivity of the net interest margin for positions in local currency, to positive and parallel variations in interest rates of 100 basis points, was COP 579,280 million. The change in sensitivity between December 2023

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and June 2024 indicates a decrease in liability sensitivity. This decrease can be attributed to reduced balances and an extension in repricing terms for CDTs, passive loans, and bonds indexed to floating rates.

On the other hand, the sensitivity of the net interest margin for positions in foreign currency was USD -4.75 million for a 100 basis point change. The shift in this sensitivity between June 2024 and December 2023 corresponds to a decrease in the passive loans, which was offset by an increase in .

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LIQUIDITY RISK

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Liquidity risk is understood as the inability to fully and timely meet payment obligations on their due dates due to insufficient liquid resources and/or the need to incur excessive funding costs. Situations such as downgrades in the credit ratings of the banks in the Group Bancolombia would increase the cost of funds and make it more difficult to attract deposits or refinance maturing debt.

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The guidelines, policies and methodologies for liquidity risks management are maintained in accordance with what was revealed as of March 31, 2024.

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GROUP BANCOLOMBIA

During the second quarter, the Bank has presented sufficient levels of liquidity, which accomplished internal and regulatory indicators. Likewise, the alerts established for the monitoring and control of liquidity did not present breaches where any risk could materialize. Additionally, liquid assets fulfilled with the established limits and comfortably covered the liquidity requirements of the Bank companies.

In this way, the liquidity coverage indicator presents a reduction from 325.09% in March 2024 to 313.05% in June 2024 considering the increase in 30-day liquidity requirements. By June 2024, the Group's liquid assets amount to COP 50.7 trillion.

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BANCOLOMBIA S.A.

During the second quarter of the year, liquidity levels have shown an increase consistent with deposits in fixed-term deposits. In general terms, the level of Liquid Assets has remained above the established limits.

The liquidity indicator was located at 220.80% at the end of June 2024, presenting a decrease compared to the end of March 2024, mainly explained by the increase in the liquidity requirement as a result of reduced active liquidity operations and decreased collections on loans over the past 30 days.

On the other hand, the net stable funding ratio (CFEN) has remained at adequate levels, standing at 118.57%

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CREDIT RISK

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Credit risk is the risk of an economic loss to the Bank due to a non-fulfillment of financial obligations by a customer or counterparty and arises principally from the decline on borrower´s creditworthiness or changes in the business climate. Credit risk is the single largest risk for the Bank's business.

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The first half of 2024 shows an economic performance with growth, despite a slow decline in inflation levels and interest rates, in addition to the geopolitical tensions that continue to exist globally. About that, proactive credit risk management was maintained through the monitoring and follow-up of customers and portfolios, the evaluation of the conditions and specific requirements of each one, as well as the development of methods, tools and models to optimize collection. Monitoring and reviewing the credit portfolio continues to be a key factor in identifying and applying proactive strategies at different stages of the credit cycle.

GROUP BANCOLOMBIA

At the end of June 2024, the Bank experienced positive dynamics in its portfolio compared to March 2024, with a 3.0% (COP 7,801,107 million) increase in the consolidated portfolio balance in local currency. Part of this increase is explained by the impact of the devaluation of the peso against the dollar during the analysis period of the foreign currency portfolio of the Group; additionally, during the period there was an increase in disbursements, especially in the Commercial portfolio, Corporate segment, across in all banks; the Mortgage portfolio remains stable with a slight upward trend in Colombia and Guatemala, while the Consumer and Microcredit modalities presented slight contractions in their balance in all regions except in Banco Agricola of Salvador.

The 30-day past due loan ratio (consolidated) at stood at 5.60% as of June 2024, showing a decrease compared with 5.68% in March 2024. The level of the bank´s non-performing loans is mainly impacted by the improvement in the indicator of the Consumer portfolio in Colombia and Guatemala, and the mortgage portfolio in Central American banks, in contrast to the deterioration in the commercial portfolio, in the segments SMEs and Business in Colombia and Panama; The microcredit portfolio shows an improvement in all Group´s Banks except BAM in Guatemala; Macroeconomic factors, such as the downward trend in inflation and the gradual intervention of interest rates by central banks, have led to improved economic dynamics in the regions where the Group operates. However, an environment of economic uncertainty persists, continuing to affect consumption and significantly impacting the commerce, manufacturing, and construction sectors, which are fundamental pillars of the regional economy. All portfolios continue to be managed at different stages of the credit cycle in order to anticipate the materialization of risks and strategies for normalizing and containing the portfolio have been implemented.

The credit cost for the second quarter of 2024 was 2.5% higher than 2.0% registered in the first quarter of 2024; The increase (21%) in this indicator is concentrated in the higher risk of SMEs and business customers and real estate and construction sectors.

BANCOLOMBIA S.A.

At the end of the second quarter of the year 2024, Bancolombia presents an increase in its portfolio of 0.9% compared March 2024, mainly due to an increase in the balance of the corporate and business segments, since retail and SME banking closed with a decrease in their values. The variation in the portfolio for the commercial modality was del 1.3%, Consumer -1.1%, Mortgage 2.7% and finally Small Business Loans of -3.5%. Its 30-day past due loan ratio was 5.29%, which represented an increase of 0.02 pp, compared to 5.31% as of the first quarter of the year 2024.

On the other hand, the credit cost in the second quarter (annualized) of 2024 was 2.86% (value without the effect of the deterioration of Tuya since it is an investment), above than the 2.32% recorded in the previous quarter. During the period different strategies were developed for the follow-up and recovery of the portfolio in order to normalize and contain the portfolio mainly in the consumer modality.

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COUNTRY RISK

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This risk refers to the possibility of an entity incurring losses as a result of financial operations abroad due to adverse economic and/or political conditions in the country receiving those operations, either because of

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restrictions on the transfer of foreign exchange or because of factors not attributable to the commercial and financial condition of the country receiving those operations. This definition includes, but is not limited to, sovereign risk (SR) and transfer risk (TR) associated with such factors.

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The guidelines, policies and methodologies for country risks management are maintained in accordance with what was revealed as of December 31, 2023.

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At the end of June 2024, there were no alerts on any investments, nor were any adjustments made for deterioration in investments that could affect or deteriorate the Bank's financial strength. Of the relevant movements, the transfer of the investment in Wenia Ltd. from other immaterial entities of the Group to Investment Banking is highlighted. The change in the balance of investments is mainly due to exchange rate fluctuations, the period results of foreign subsidiaries and the distribution of dividends.

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OPERATIONAL RISK

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Group Bancolombia has an operational risk management system, whose objective is to carry out adequate risk management that allows, as far as possible, to minimize, avoid or reduce the materialization of adverse events and/or reduce their consequences or costs in the event of materialization. The operational risk management system has not presented changes in relation to what was revealed in the previous quarter in terms of regulations, policies, manuals, methodologies, structure or any other relevant element that may affect its effectiveness.

GROUP BANCOLOMBIA

During the second quarter of the current year, no new risks or changes in existing risks have been identified that significantly modify the exposure to operational risk. The losses materialized in the second quarter present an increase of 1.47% compared to the first quarter of 2024, this variation is mainly explained by the fraud category.

BANCOLOMBIA S.A.

Operational risk system objective is to carry out an adequate risk management that allows minimizing, avoiding, or reducing the materialization of adverse events and/or reducing their consequences or costs in case of materialization. The operational risk management system has not presented changes in relation to what was revealed in the last cut in terms of regulations, policies, manuals, methodologies, structure or any other relevant element that may affect its effectiveness.

During the second quarter of the current year, no new risks or changes in existing risks have been identified that significantly modify the Bank's operational risk exposure. Losses cut to the second quarter of 2024 correspond to an accumulated value of COP 65,073 million explained by the fraud category, due to the increase in social engineering techniques and customer impersonation.

OTHER RELEVANT RISK

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The risk map is a tool which allows us to identify the principal risks and concerns that Bancolombia S.A must define and prioritize actions which allows the management and mitigation of risks. For the 2024 map, the Corporate Risk Department updated the methodology for its construction, adopting the MICMAC methodology.

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This exercise has provided an influence-dependence matrix (methodology MIC-MAC1) for the risks, which were classified into 4 quadrants (link (I)2, motors (II)3, autonomous (III)4 and resultants (IV)5).

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With this update, Bancolombia S.A. selected the main risks, going from 12 to 16. Given the new methodology, ESG risk was separated into environmental and social risk (external origin), and sustainability strategy (internal origin), and included credit risk and liquidity to reflect the relationship of risks with a more complete view of the business. Finally, the risk of internal and external fraud was separated, to facilitate the assignment of action plans.

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For this process, an investigation of the mega trends focused on risks was carried out, in order to map the factors (economic variables, social events, technological advances, climate behavior) that could condition the evolution of these risks and the development of new businesses. After this mapping, a collective reflection was made with the executive committee where the influence and dependence of the risk system under study was defined. With these two variables, the MICMAC methodology was constructed to map in four quadrants and define the strategic relevance for Bancolombia. Additionally, the risk map includes the unexpected monetary impact for each of the risks.

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Finally, the risk map and networks of influence⁶ are used as input in strategic planning exercises and to define action plans and indicators for quarterly follow-up.

The updated 2024 risk map is shown below:

¹ MICMAC: is a methodology that seeks to analyze qualitatively the relationships between the variables that make up a system within a company, organization, society, country. It is part of the structural analysis and relies on the qualitative judgment of actors and/or experts who are part of a system.

² It presents the variables with a high degree of influence and dependence, therefore they are considered conflicting variables, due to their instability, since they are subject to constant internal and environmental changes.

³ They are variables that could be catalogued as having high influence and relative dependence, being called power variables.

⁴ They are variables with little influence and dependence, which correspond to the inertia of the system, and are called autonomous variables.

⁵ They are variables characterized by a high level of dependence and low influence. They are called outcome variables, due to their sensitivity to the actions of the conflicting variables.

⁶ Influence networks: indicates the level of influence that a risk has on the other risks of the system.

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Risk map 2024 – Group Bancolombia

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The following is a review of each of the risks included in the risk map; however, model risk and political risk did not present relevant changes during the first quarter of the year:

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In recent months, the view has been consolidated that the monetary policy of the world's main central banks is close to taking the step towards the process of normalization of the stance. In particular, the market and analysts have a majority view that the Federal Reserve will bring forward two or more cuts in its policy interest rate before the end of the year, thanks to the fact that the most recent results of inflation, economic activity, and the labor market have been favorable for that outlook. Although the uncertainty on this front has not been fully mitigated, the current outlook looks solid and should allow for a progressively looser and more favorable global macro-financial environment for liquidity, economic dynamics and the appetite for financial assets of emerging countries such as Colombia in the coming quarters.

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In the midst of this, economic growth figures have been surprising to the upside in many countries, so there are more and more signs that those that went through a weakening phase between 2022 and 2023 would already be on a path of gradual recovery. Thus, in many countries, including Colombia, the most challenging moment of the current economic cycle would have been passed during the past year, such that macroeconomic winds will gradually become more constructive in the short-term future. However, all this is happening in a global and local context where decisions continue to be affected by high uncertainty, in the context of the continuous intensification of geopolitical tensions and in the face of the occurrence of multiple recent electoral events (in Mexico, the United Kingdom and France) or future (in the United States) that may be decisive in the future of global macroeconomic integration.

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At the local level, news on the public finance and regulatory front has dominated the economic agenda. Tax collection has shown a marked weakness in the face of the proposed targets, which led the Government to announce a large cut in public spending planned for this year. While this partially alleviates concerns, the outlook is not yet clear and the country faces the possibility of a breach of the fiscal rule target in 2024 or 2025 and another possible sovereign risk rating cut. Meanwhile, at the end of the last legislature, Congress approved the pension reform. The initiative will have implications for public finances that have not yet been incorporated into the authorities' accounts, while there would be a negative structural impact on the capital market. However, due to issues related to the procedure, it is possible that the courts will decide to declare the reform partially or totally unenforceable, such that it is not yet certain whether the system will go through the approved changes or not.

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On the other hand, the local financial environment has improved: inflation continues in its slow process of convergence towards the Bank of the Republic's objective, which has allowed this institution to continue cutting its monetary policy interest rate. These trends are expected to continue in the short term, such that they will be elements that will allow a strengthening of the dynamics of the economy in the coming quarters.

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Bancolombia Group maintains active credit risk management, incorporating various macroeconomic scenarios into the provisioning calculation models. In addition, the Group has maintained a constant sectoral analysis and monitoring, with the aim of identifying both situations and customers with possible impacts. Periodically, the evolution of the individual situation of customers is reviewed in different forums, adopting alternatives when necessary, to support them in the development of their businesses and in the management of the aforementioned context.

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During the second quarter of 2024, there have been no significant changes that significantly alter the risk exposure in the areas of Cyber and Information Security, Operational Resilience, Business Continuity, and Technological Failures.

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We emphasize that, to strengthen cybersecurity and information security management, controls have been implemented, including improvements in access management, parameterization of alerts, and monitoring from the Cybersecurity Operations Center (SOC), code analysis and vulnerability assessments are conducted at various stages of development for technological components, applications, and cloud services. Additionally, regular scans are performed, and proactive efforts are made to address vulnerabilities, secure development practices are also implemented for production releases. These measures have allowed us to effectively manage risk exposure.

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Regarding operational resilience, business continuity, and technological failures, we continue to implement technological and operational contingencies for key channels and processes; which will allow us to respond in a timely and appropriate manner, mitigating impacts on the service to our clients.

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During the 2nd quarter of 2024, the regulatory changes implemented by government have been limited to: (i) modifications to the estimation of the maximum lending rates; (ii) indirect impacts that affect our clients and the subsidies they can access. Looking forward, the government is preparing regulatory amendments involving Payment Systems, Open Banking-Data and an economic growth package that includes a bill about optimization of mandatory investments.

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During the second trimester of 2024, as part of the SARLAFT development, we executed risk matrices for AML risks for Bancolombia societies, Valores Bancolombia, Fiduciaria Bancolombia, and Banca de Inversión Bancolombia. This process ensured the correct execution for each entity and guaranteed risk mitigation. Based on requirements and meetings with the Financial Superintendency of Colombia, ongoing adjustments are being made to improve the identification of threats and vulnerabilities to which these entities are exposed, with a primary focus on crimes against public administration.

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Based on an analysis of internal and external contextual information, new risk variables are being defined for the RIC (Consolidated Integrated Risk) score. These variables include factors that elevate certain clients' risk levels, such as cattle farmers, influencers, payment gateways, real estate professionals, contractors, and non-profit Organizations (NPO), among others. This approach allows for a more accurate assessment of exposure to Anti-Money Laundering and Financing of Terrorism (AML/FT) risks, facilitating the implementation of relevant actions to mitigate such risks. Consequently, Bancolombia Group ensures sustainability and responsible business development.

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The corporate tool for AML risk management, known as GRC (Governance, Risk, and Compliance), is currently in production. It is ingesting previous profiles from Bancolombia S.A. and financial subsidiaries in Colombia related to risk identification, measurement, causes, and controls. This tool supports technological evolution to enhance control capabilities for semi-annual risk profiles at various aggregation levels (segment,

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factor, risk, and entity) and improves traceability of historical information, ease of validation, and accountability.

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With respect to the employees, we generated different communications and training that have a direct impact on the culture and knowledge in AML topics inside of Bancolombia Group.

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Additionally, we accompanied 104 initiatives and projects to identify in a proactive way the AML risks that let the implementation of the controls and efforts for the correct risk mitigation.

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During the second quarter of 2024, efforts have focused on advancing ESG risk management in the commercial portfolio and investment areas:

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For the commercial portfolio:

For the investment areas:

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The outsourcing of activities within the Group Bancolombia exposes it to the possibility of economic impact derived from the inability to manage a third party or supplier contracted by Bancolombia Group, which presents deficiencies to carry out the service. This situation may trigger restrictions in the achievement of strategic objectives, and in some cases, derive in impacts on the operation of the business and increase the exposure in terms of cybersecurity, handling of third party or confidential information, fraud, and reputational cases, which are involved in adverse scenarios for the perception of the public or regulators.

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During the second trimester of the current year, the work plan has been carried out to evaluate the critical suppliers of the Bancolombia Group, in this way we seek to guarantee the control environment in the organization and continue with the evolution of the processes to guarantee the management of the suppliers in the contracting cycle.

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During 2024, external fraud has increased due to the increase in attacks on customers through social engineering techniques to breach their resources in the different products and channels. To mitigate this situation, permanent adjustments are made to the transactional monitoring rules and to the different controls aimed at customer authentication, always seeking a favorable relationship between security and service.

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During the second quarter of the year, there was an improvement in the number of internal fraud events compared to the previous quarter, mainly due to the strengthening of controls in the branch network to prevent cash theft by officials such as dual control, segregation of credentials and different monitoring in high-risk news.

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Talent risk is the possibility of generating a negative impact on the results of the Group Bancolombia due to the absence of the talents required in the different roles or due to the challenges associated with existing talent, given the Bancolombia Group inability to design schemes that enable the culture and well-being that attracts, develops, and retains talent.

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During the second trimester of the current year, a work plan has been carried out to identify and measure all those risks related to talent to which the organization is exposed and to be able to define the improvement plans to be carried out with the objective of mitigating the risk and keep it managed.

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The implementation of the Immediate Payment System (SPI, initials in Spanish) led by the Banco de la República may prove to be the most critical factor in eroding Bancolombia Group competitive advantage in the digital payment market, which currently exceeds 60% of the market share. This implies a revision of our product portfolio and to improve the perception of value to our clients as a counterbalance to this situation, ensuring Bancolombia Group maintains our market position and client preference. Moreover, it is crucial to leverage new opportunities presented by the open banking regulations such as the consolidation of market information.

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The second quarter of 2024 maintained a tendency towards a reduction of new digital competitors (Fintech) due to the limited availability of venture capital and funding. This trend is leading fintech firms to transition from a customer growth-oriented model to a profitable business model. Nevertheless, Colombia remains an attractive market for the entry of new emerging players seeking to expand their operations in the region, as it is the second-highest market in neobank adoption after Brazil, coupled with a regulatory framework which enables an open financial system.

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Bancolombia S.A results continue to demonstrate a divergence in terms of financial performance compared to other market players, as of May earnings accumulated 2.2 billon COP which is 4.6 times the next competitor on the list while 11 other banks reported losses. This reality along with strategic decisions to lower interest rates on mortgages to reactive and foment important economic sectors demonstrates an interest to further continue to mobilize growth and maintain leadership in the Colombian financial sector.

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In order to fulfill the requirements made by article 8.4.1.2.2 of “Circular 012 of 2022” issued by the Superintendency of Finance of Colombia (SFC), there are presented the material changes in the Corporate Governance chapter that was presented in the annual report:

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Composition and operation of the Board of Directors

As Gonzalo Alberto Pérez Rojas resigned as Board member on May 2, 2024, an extraordinary shareholders meeting took place on June 26, 2024, in which the new Board members were elected to be part of the Board during the June 2024 – May 2026 period, as follows:

The process to sworn in before the SFC is being carried out. As a result of these appointments, 71% of the members of the Board of Directors will continue to be independent members, 29% of the members will be women and 29% of the members will be foreigners. The management of the Company confirms that the necessary processes and authorizations were completed to carry out the General Shareholders’ Meeting.

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The Directors curriculum can be consulted through the following link: Board of directors and senior management | Grupo Bancolombia

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During the same shareholders meeting, it was also approved the modification of the bylaws to include the criteria of disqualifications and incompatibilities that is defined in the Good Governance Code and the in the Election of Board Members internal regulation. It is also specified that for the election of Board Members, the mentioned internal regulation must be followed, as it includes the criteria of disqualifications and incompatibilities for Board Members.

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Change of the Chief Financial Officer:

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On May 28, 2024, it was announced that the Board of Directors appointed Mauricio Botero Wolff as Chief Financial Officer of Bancolombia, who took office as of August 1st, 2024, replacing José Humberto Acosta, who will be retiring. With more than 20 years with Group Bancolombia, Mauricio Botero Wolff held the position of Vice President of Services for Clients and Employees. He has been Manager of Investments Relationship, Manager of Integration of Acquisitions, and Director of Planning and Projects.

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Mauricio is a Business Engineer from EIA University, with a postgraduate degree in Economics from Los Andes University. He received his MBA in Strategy and Finance as a Fullbright Scholar from Emory University.

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External Auditor additional fees:

With previous recommendation of the Audit Committee and the Board of Directors, the Shareholders determined on the June 26, 2024, extraordinary Board meeting, to approve additional fees for the External Auditor up to COP $ 1,610,000,000. This, as a consequence of the certification issued by PwC in which it is shown the financial situation of Bancolombia during the process of issuance of hybrid bonds in the United States. These additional fees are needed to complete the debt management process that Bancolombia is doing

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to optimize its equity structure. PwC, as External Auditor certified Bancolombia’s financial situation for this operation.  

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Repurchase Bonds maturing in 2025 and 2027 Bancolombia S.A.

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On July 8, 2024, repurchase USD 2,013 of ordinary bonds maturing 2025 and USD 4,661 the subordinated bonds maturing 2027, issued by Bancolombia S.A., was carried out (the “Bonds”), whose public repurchase offer abroad was announced on June 3, 2024. These bonds were designated as hedging instruments in the net exposure of the investment in Banistmo, so the repurchase transaction originates a partial discontinuation of coverage in the amount of USD 6,674.

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In the second quarter of 2024 there were no material or relevant changes in policies and indicators related to ESG criteria.

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ADR: American Depositary Shares, or the bank's securities that are listed on the New York Stock Exchange. An ADR represents four preferred shares. 

ASG: Environmental, social, and corporate governance, by its initials in Spanish. 

Bam: Banco Agromercantil de Guatemala SA. 

“Bancolombia“ or “the Bank”: refers to Bancolombia S.A., a banking institution organized under the laws of the Republic of Colombia, including its subsidiaries on a consolidated basis, unless otherwise indicated or the context otherwise requires.

IDB: Inter-American Development Bank 

CDT: Certificate of Deposit at Term. 

COLCAP: reference index of the stock market of the Colombian Stock Exchange. 

COP: Colombian pesos. 

Dian: Dirección de Impuestos y Aduanas Nacional, tax authority in Colombia. 

DJSI: Dow Jones Sustainability Index. 

DTF: It is the average interest rate paid by financial institutions for 90-day deposits. 

IFC: International Finance Corporation. 

LAFT: Money Laundering and Terrorist Financing, by its initials in Spanish. 

Nequi: financial platform that accompanies users in their daily lives with financial and non-financial services from third parties. As a 100% digital solution, it complements its offer with functionalities that go beyond saving and managing money. 

NYSE: New York Stock Exchange. 

Sarlaft: Money Laundering and Terrorist Financing Risk Management System, by its initials in Spanish. 

SMMLV: Legal Minimum Monthly Wage in force. 

TRM: Representative Market Rate, price of the dollar in the Colombian market, which varies daily. 

USD: United States dollars. 

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UVR: Real Value Units, an indicator tied to the behavior of inflation that is used to calculate the cost of certain housing loans. 

UVT: Measure that is used to determine different tax obligations with an equivalent in Colombian pesos. 

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