| NON-CONTROLLING INTEREST |
NOTE 26 - NON- CONTROLLING INTEREST The following table includes information regarding the non-controlling interest of each direct and indirect subsidiary of Grupo Aval at December 31, 2025 and 2024: | | | | | | | | | | | | | | December 31, 2025 | | | | | | | Non-controlling | | Non-controlling | | Dividends paid to non- | | | | | Non-controlling | | Interest share of | | interest share of | | controlling interest in | Entity | | Country | | Interest | | equity | | net income | | the year | Corporación Financiera Colombiana S.A. (1) | | Colombia | | 59.47% | | Ps. | 10,953,814 | | Ps. | 979,300 | | Ps. | (491,683) | Banco Bogotá S.A. | | Colombia | | 31.07% | | | 2,532,890 | | | 246,907 | | | (135,915) | Banco de Occidente S.A. | | Colombia | | 27.73% | | | 1,317,614 | | | 97,696 | | | (34,463) | Sociedad Administradora de Fondos de Pensiones, Cesantías y del CCAI Porvenir S.A. | | Colombia | | 24.24% | | | 1,007,901 | | | 167,091 | | | (3) | Banco Comercial AV Villas S.A. | | Colombia | | 20.13% | | | 318,202 | | | 3,903 | | | (45) | Banco Popular S.A. | | Colombia | | 6.13% | | | 153,628 | | | (4,840) | | | (157) | Aval Casa de Bolsa S.A. | | Colombia | | 13.60% | | | 9,448 | | | 1,324 | | | — | Aval Fiduciaria S.A. | | Colombia | | 1.53% | | | 1,770 | | | 250 | | | — | Aval Banca de Inversión S.A.S. | | Colombia | | 17.84% | | | 1,669 | | | 1,669 | | | — | | | | | Total | | Ps. | 16,296,936 | | Ps. | 1,493,300 | | Ps. | (662,266) |
(1) Main indirect subsidiary. | | | | | | | | | | | | | | December 31, 2024 | | | | | | | Non-controlling | | Non-controlling | | Dividends paid to non- | | | | | Non-controlling | | Interest share of | | interest share of | | controlling interest in | Entity | | Country | | Interest | | equity | | net income | | the year | Corporación Financiera Colombiana S.A. (1) | | Colombia | | 59.47% | | Ps. | 10,522,067 | | Ps. | 776,960 | | Ps. | (495,436) | Banco Bogotá S.A. | | Colombia | | 31.07% | | | 2,560,159 | | | 230,718 | | | (142,352) | Banco de Occidente S.A. | | Colombia | | 27.73% | | | 1,307,098 | | | 72,105 | | | (28,379) | Sociedad Administradora de Fondos de Pensiones, Cesantías y del CCAI Porvenir S.A. | | Colombia | | 24.24% | | | 843,566 | | | 155,710 | | | (2) | Banco Comercial AV Villas S.A. | | Colombia | | 20.13% | | | 311,730 | | | (26,171) | | | (135) | Banco Popular S.A. | | Colombia | | 6.26% | | | 158,425 | | | (32,932) | | | (1,026) | Aval Casa de Bolsa S.A. | | Colombia | | 13.60% | | | 6,757 | | | — | | | — | Aval Fiduciaria S.A. | | Colombia | | 3.27% | | | 1,859 | | | — | | | — | | | | | Total | | Ps. | 15,711,661 | | Ps. | 1,176,390 | | Ps. | (667,330) |
(1) Main indirect subsidiary. The following table includes information regarding each direct and indirect subsidiary of Grupo Aval that has significant non-controlling interests to December 31, 2025, and 2024 (before eliminations): | | | | | | | | | | | | | | | |
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December 31, 2025 |
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| | | | | | | | | | | | | | Cash Flow from |
|---|
Entity | | Assets | | Liabilities | | Net Income | | OCI - Controlling | | operating activities |
|---|
Corporación Financiera Colombiana S.A. | | Ps. | 61,507,860 | | Ps. | 44,486,345 | | Ps. | 1,173,732 | | Ps. | 970,481 | | Ps. | (455,422) | Banco Bogotá S.A. | | | 156,164,359 | | | 138,870,595 | | | 1,275,624 | | | (174,736) | | | 5,020,131 | Banco de Occidente S.A. | | | 88,163,285 | | | 81,904,685 | | | 582,138 | | | (93,803) | | | 1,421,590 | Sociedad Administradora de Fondos de Pensiones y Cesantías y del CCAI Porvenir S.A. | | | 4,525,469 | | | 920,640 | | | 703,010 | | | (30,075) | | | 295,678 | Banco Comercial AV Villas S.A. | | | 21,932,939 | | | 20,216,035 | | | 19,016 | | | 131,291 | | | 233,295 | Banco Popular S.A. | | | 91,590,495 | | | 72,572,874 | | | 1,190,999 | | | 110,148 | | | 797,343 | Aval Casa de Bolsa S.A. | | | 194,559 | | | 134,697 | | | 10,893 | | | (2,841) | | | (3,803) | Aval Fiduciaria S.A. | | | 171,791 | | | 98,656 | | | 16,354 | | | (7,422) | | | (64,799) | Aval Banca de Inversión S.A.S. | | Ps. | 25,121 | | Ps. | 7,766 | | Ps. | 9,355 | | Ps. | — | | Ps. | 15,770 |
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December 31, 2024 |
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| | | | | | | | | | | | | | Cash Flow from |
|---|
Entity | | Assets | | Liabilities | | Net Income | | OCI - Controlling | | operating activities |
|---|
Corporación Financiera Colombiana S.A. | | Ps. | 60,633,378 | | Ps. | 44,307,226 | | Ps. | 865,830 | | Ps. | 843,617 | | Ps. | (521,510) |
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Banco Bogotá S.A. | | | 150,719,626 | | | 133,877,249 | | | 1,098,248 | | | 22,520 | | | 2,288,431 |
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Banco de Occidente S.A. | | | 78,400,182 | | | 72,414,391 | | | 481,048 | | | (47,342) | | | 22,940 |
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Sociedad Administradora de Fondos de Pensiones, Cesantías y del CCAI Porvenir S.A. | | | 3,913,208 | | | 672,796 | | | 654,117 | | | (18,642) | | | 295,257 |
|---|
Banco Comercial AV Villas S.A. | | | 19,167,670 | | | 17,477,831 | | | (134,365) | | | 117,164 | | | (822,967) |
|---|
Banco Popular S.A. | | | 88,381,205 | | | 70,152,858 | | | 534,340 | | | 66,216 | | | (925,651) |
|---|
Aval Casa de Bolsa S.A. | | | 188,911 | | | 139,218 | | | 807 | | | (2,898) | | | 30,100 |
|---|
Aval Fiduciaria S.A. | | Ps. | 281,792 | | Ps. | 224,934 | | Ps. | 12,924 | | Ps. | (7,346) | | Ps. | 35,671 |
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