Q1 2022 Grupo Aval Acciones y Valores SA Earnings Call

Speaker 1: Know including for the full period in the three months, and that March 30 first, 2020 second, and will be reported under the share of profit of equity accounted invesestes, net of tax, equity method line item for subsequent period.

Speaker 2: As a result, for comparability purposes, we have prepared and percent supplemental on audited pro formmaof financial information for the three months and at March 30 first 2021, and that three months ended at December 30- first 2021. that assumes a spin off was completed on January first 2021, in October first 2021 respectively.

Speaker 2: The supplemental unaudited performa financial information does not purport to be indicative of our results of operations or financial position had the relevant transactions occurred on. The data assume and does not project our results of operations or financial position for any future period or date.

Speaker 2: The pro forma financial information is unaudited and the completion of the external audited for the year-ended December thirty-first, 20 and 20 second, may result in adjustments with the unaudited pro forma financial information presented adheret. Any such adjustments may be material.

Speaker 2: This report includes forward-looking statements. In some cases, you can identify these forward-looking statements by words such as may will should expects plans anticipates belies estimates, predicts potential or continue or the negative of these and other comparable words.

Speaker 2: Actual results and events may differ materially from those anticipated herein as a consequence of changes in general economic and business conditions, changes in interest and currency rates and other risks described from time to time in our filings with the H from natalular Lord's humanmisords and the SEC.

Speaker 2: Recipients of this document are responsible for the assessment and use of the information provided herein. Matters described in this presentation, in our knowledge of them, may change extensively and materially over time, but we expressly disclaim any obligation to review, update or correct the information provided in this report, included any forward-looking statement and do not intend to providide any update for such material developments prior to our next earnings report.

Speaker 1: The cont in this document and the figures included herein are intended to provide a summary of the subjects discussed, rather than a comprehensive description when applicable. In this document, we refer to billions as thousands of millions.

Speaker 2: At this time, all participants are in a listen-only mode. Later we will conduct the question-and-answer session.

Speaker 2: I will now like to turn the call over to MR wisstl. sermentto with the other is Chief Executive Officer MR simammento. With otheris, you may begin.

Speaker 3: Good morning and thank you all for joining our first quarter 2022 conference call.

Speaker 4: As always, it is my pleasure to share with you our strong financial results for the quarter that ended on March thirty-first.

Speaker 4: Of significance. This quarter saw the execution of the BHI spin-off that we announced on September fifteenth of last year.

Speaker 4: The quarter was also marked by Colombia's strong growth and by the continued positive trend in our subsidaries performances.

Speaker 4: As I usually do, I will provide an overview of Colombia's macro scenario. I will then describe in more detail the spin-off, followed by a quick update of the status of our client'. Pandemic-driven no relief are digital efforts and the main highlights of our financial performance.

Speaker 4: Starting with an overview of the macro environment, this quarter was dominated by an increasingly challenging global economic environment and, as I mentioned before, a strong collogian economy, needless to say, far from being devoid of domestic challenges.

Speaker 3: As we all know, global economic prospects continue to be adversely affected. Primarily, the ukraine- Russia conflict has added inflationary pressures to the commodity markets and particularly to the energy and agricultural sectors.

Speaker 4: In addition, a new wave of lockdowns in China has further disrupted global supply chains. And last but not least.