Bloomberg News

Colombia Stocks: Bolsa de Valores, Banco Davivienda Were Active

February 24, 2012

Feb. 24 (Bloomberg) -- The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 4 p.m. local time.

The IGBC Index gained 0.2 percent to 14,954.30 while the Colcap Index fell 0.1 percent to 1,718.51.

Bolsa de Valores de Colombia SA (BVC CB), the operator of Colombia’s main stock exchange, rose 2.1 percent to 33.6 pesos. The company will pay a 2012 dividend of 1.52 pesos per share, including an extraordinary dividend of 0.46 peso per share, according to a regulatory filing yesterday. That is a 64 percent increase from last year’s dividend, according to the filing.

Banco Davivienda SA (PFDAVVND CB), Colombia’s third-biggest bank, fell 0.3 percent to 20,240 pesos. The bank will seek to increase the return on equity of HSBC banks it has agreed to acquire in Central America to 9 percent by 2014, Davivienda President Efrain Forero told La Republica.

Fitch Ratings placed HSBC subsidiaries in Costa Rica and El Salvador on credit watch with a negative outlook Jan. 27 after Davivienda agreed to purchase them. Fitch said it would assess whether Davivienda would continue to provide support to the subsidiaries as HSBC did. HSBC agreed on Jan. 24 to sell its subsidiaries in Costa Rica, Honduras and El Salvador to Davivienda for $801 million.

--Editors: David Papadopoulos, Glenn J. Kalinoski

To contact the reporter on this story: Blake Schmidt in Bogota at

To contact the editor responsible for this story: David Papadopoulos at

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