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Banks In Colombia

November 27, 2015


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Colombia is a country that mainly has based its economy on agriculture activity and the exploitation of natural resources, to then move on to various processes of transformation and thus offer different products derived from nature; However, in recent times it has given way to an important foray into other fields that generate large benefits for the economy; a clear example is the banking sector, which has found an important development through banks in Colombia, thanks to marketing strategies that promote monetary activity to put into circulation a higher derivative capital of loans that then go to be invested in the market and also through deposits that are the same sustenance of banks in Colombia for the loans they made. As banks in Colombia can be understood to mean a point of great importance for the economy, is therefore suited to learn a little more about the conditions of the banks in Colombia. So to begin with the topic worth saying that the historical process in reason to the banks in Colombia is very little, so much so that the first bank which could hold in Colombia was banco de Bogota which appeared in the year 1870, while in other countries there were banks with a great track record, so for a long time never can give an important development in terms of banks in Colombia, which is due to various problems of a social naturepolitical and Government intervention. Serious until the 1970s which is beginning to make progress on the issue of banks in Colombia, which accommodates the appearance of new banks and the strengthening of the existing few and for the 1990s gives the financial boom and therefore the activity of the banks in Colombia, which gave step to the presence of many new banks and the arrival of different entities from the outside; all this was one of the greatest achievements by banks in Colombia that was the financial expertise and leave behind the banking monopoly, what emerges better conditions of competition and therefore more aspects favorable for customers. With the new conditions of market banks in Colombia achieved tremendous growth, which gave way to the presence of a few banks that stand out for their achievements and capitalization, can be found among these: the AV Villas Bank, which has established itself among the banks in Colombia thanks to the proposal of new products and the improvement of the conditions of traditional benefits, which is added to that this bank belongs to Grupo Aval, which is one of the largest financial conglomerates in the country. Bancolombia, is one of the country’s largest financial institutions and is the largest bank in Colombia by assets, which relies on the great presence that has throughout the national territory..