Colombian central bank profits fell by 94% in January 2021

Between January 2020 and January 2021, Banco de la República’s net income shrunk by 94% from $512 million (Co$ 1.92 billion) to $29 million (111,698 million). The operating revenue also decreased from $536 million (Co$ 2 billion) to $70 million (Co$ 264,473 million) in the same period. With lower interest rates, even closer to zero, this trend is expected to continue this year and further, said Central Bank’s governor, Leonardo Villar.

Source: La República