According to Anif Study Center, the sum of the salaries not received in the september was $577 million, taking the accumulated between March and september to ca $ 7 billion. The study center points out that although the rate of accumulated losses has slowed down in the last quarter, the amount of what households stopped receiving remains above 2% of GDP.
The Colombian stock market is one of the most affected by the volatility of last March and despite the fact that most equity indices have recovered, the Colcap of the Colombian Stock Exchange registers a depreciation of 27%. Bank shares have been the most affected. The worst performing stocks are Grupo Inversiones Suramericana (-41.98%) Preferential Bancolombia (-41.88%) Banco Davivienda (-40.63%) Ordinary Bancolombia (-40.16%) and Ecopetrol (-39.67 %). The market's downturn is evident from the fact that so far this year only three shares show positive results : Mineros (17.69%), ISA (14.90%) and Grupo Energía Bogota (10.36%).
Colombian investment and insurance company Grupo Sura delivered its financial results for the third quarter of the year. The accumulated net profit to September was $109 million, a 73.4% fall in the company's profits in relation to the level reached at the end of the ninth month of 2019 ($ 385 million).
Bancolombia has ranked in first place for the second time in the Dow Jones sustainability index in the banking sector. To date, Bancolombia has three green and sustainable bond issues for ca $357 million. The bank is also commited to mobilize at least $137 bn, through credit and other financial services aligned with the Sustainable Development Goals, in the next 10 years.
Emirates Global Aluminium has signed an agreement with NEO Aluminio Colombia, which could lead to the export of EGA’s UAE-developed state-of-the art technology for the development of the first aluminium production facility in the South American country. NEO Aluminio Colombia is currently assessing the feasibility of building a low carbon aluminium production facility in the northwest of the country, powered with hydroelectricity and intended to reach a capacity of 540 thousand tonnes of aluminium per year.