At the shareholders' assembly, Grupo Cibest's CEO Juan Carlos Mora defended the Banistmo sale as a strategy to optimize capital and focus on more profitable businesses. Shareholders approved $4.3 trillion in dividends, a 15% increase from last year.
During the Ordinary Shareholders' Assembly, Grupo Cibest CEO Juan Carlos Mora explained that the sale of Banistmo to Grupo Cuscatlán for US$1.400 million followed a market analysis and competitive process involving about six bidders. “We considered it the right moment to, based on that divestment, seek alternatives that generate greater profitability,” Mora stated. The deal, expected mid-year, will free up resources for reinvestment in growth without impacting investor returns. Cibest will retain a presence in Panama through Bancolombia Panamá. 2025 net profit was $3.8 trillion, down 39% due to the sale's accounting effect; excluding it, it would have been $7.4 trillion with 17.2% ROE. Mora forecasts ROE nearing 18% after the sale. Shareholders approved a $4,512 per share dividend, totaling $4.3 trillion—a 16% rise from last year's $3.75 trillion—payable in four installments starting April 1. They also greenlit a new three-year $1.35 trillion share buyback program, following $662 billion repurchased earlier. This signals confidence in future performance, per Mora.
