Pension funds registered a record figure of more than Col$317 trillion ($88.88 billion) at the close of 2020, with returns in that period of Col$27.1 trillion ($7.59 billion), the third highest in the 26 years of operation of the AFPs. Likewise, at the end of 2020, the number of pension fund members exceeded 17.1 million people, representing a growth of 4% compared to 2019.
At least 10.1 million Colombians reported having a reduction in their economic activity or income during the COVID-19 pandemic, representing at least 24.5% of the working-age population. According to Colombia's statistics office (Dane), an average of 7.4 million (18.1%) Colombians have been unable to pay their bills, and 6 million (14.6%) had problems getting food or cleaning products in 2020.
Banco W plans to make a first issue of social bonds for Col$160 billion ($44.86 million), following the approval by the Financial Superintendence of Colombia of the Programme for the issuance and placement of ordinary and social bonds for Col$500 billion ($140.18 million). This would be the entity's third bond issue in the main market, and the first issue with a certified social focus made in this market by a private financial entity in Colombia.
The Ministry of Industry and Commerce reported that the simplification strategy, called Estado Simple (Simple State), allowed Colombians to save Col$90.38 billion ($25.34 million). In December, the savings were Col$22.55 billion ($63.23 million).
Grupo de Energia de Bogota, one of Colombia's largest conglomerates, is taking on state-controlled Ecopetrol in a battle for control of electricity transmission giant Isa. GEB chief executive Juan Ricardo Ortega said the company has around Col$14 trillion ($3.88 bn) in cash and potential loans to submit a bid for the state's majority stake in Isa.