Grupo Aval Q2 2026 Net Income Jumps 71.6% QoQ to Ps 577.5B; ROAE Hits 12.7%
AVAL sits 76% above its 52-week low of $3.01 on light trading volume (0.3× avg).
Summary
Grupo Aval's Q2 2026 net income attributable to owners rose 71.6% quarter-over-quarter to Ps 577.5 billion, with ROAE reaching 12.7% — the highest in four years — driven by a sharp recovery in investment NIM and lower operating expenses.
Key Events · Earnings and Guidance · AVAL
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Net Income Surges 71.6% QoQ
Attributable net income reached Ps 577.5 billion in Q2 2026, up from Ps 336.6 billion in Q1 2026 and Ps 494.9 billion in Q2 2025. EPS was Ps 24.3 per share.
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ROAE Hits 12.7%, Highest in 4 Years
Return on average equity improved to 12.7% from 7.4% in Q1 2026, driven by a recovery in NIM on investments to 8.7% from 0.3% and a 456 bps improvement in the efficiency ratio to 49.3%.
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Loan Growth and Stable Asset Quality
Gross loans grew 2.1% QoQ and 7.6% YoY to Ps 197.7 trillion. 90-day past due loans remained stable at 3.1% of gross loans, down 44 bps from Q2 2025.
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Zelestra Latam Acquisition Completed
Corficolombiana's acquisition of Zelestra Latam drove tangible assets up 83.6% YoY and goodwill up 31.7% YoY, contributing to total asset growth of 4.5% YoY.
Analysis · AVAL · Finance
A strong second quarter lifted attributable net income to Ps 577.5 billion, up 71.6% from Q1 2026 and 16.7% year-over-year. Return on average equity reached 12.7%, the highest in four years, driven by a recovery in net interest margin on investments to 8.7% from 0.3% in Q1, reflecting improved Colombian sovereign debt market conditions after the June presidential election. The efficiency ratio improved to 49.3% from 53.9% in Q1, helped by the absence of a one-time equity tax that had inflated Q1 expenses. Loan portfolio grew 7.6% year-over-year, and asset quality remained stable with 90-day past due loans at 3.1%. The quarter also included the acquisition of Zelestra Latam by Corficolombiana, which boosted tangible assets and goodwill. This is a meaningful earnings beat with improving profitability metrics, though the company's large non-controlling interest (41.2% of net income) tempers the impact on attributable shareholders.
At the time of this filing, AVAL was trading at $5.30 on NYSE in the Finance sector, with a market capitalization of approximately $6.3B. The 52-week trading range was $3.01 to $6.20. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.