TRADING ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2025

Trading assets and liabilities [abstract]

Balances of trading asset and liabilities


				December 31,			December 31,
		Note		2025 ⁽¹⁾			2024
Trading assets
Debt securities		8.1		Ps.	17,582,844		Ps.	11,937,414
Equity securities		8.2			9,297,726			7,256,506
Derivative assets		8.3			2,217,021			969,294
				Ps.	29,097,591		Ps.	20,163,214

Trading liabilities
Derivative liabilities		8.3			1,951,439			1,011,934
				Ps.	1,951,439		Ps.	1,011,934
Total trading assets and liabilities net				Ps.	27,146,152		Ps.	19,151,280

_____________________________

⁽¹⁾ As of December 2025, the assets related to Multi Financial Group (MFG) were no longer presented line-by-line on the Consolidated Statements of Financial Position and were instead reported in a single line item within “Non-current assets held for sale”, see note 13.A.

Investments in debt securities at fair value through profit or loss held for trading


		December 31,			December 31,
		2025⁽¹⁾			2024
Securities issued or secured by the Colombian Government		Ps.	15,817,844		Ps.	10,641,558
Securities issued or secured by other Colombian Government entities			213,079			183,760
Securities issued or secured by foreign Governments			492,675			75,379
Securities issued or secured by other financial entities			1,032,569			1,002,194
Securities issued or secured by non-financial sector entities			1,939			8,813
Others			24,738			25,710
Total trading debt securities		Ps.	17,582,844		Ps.	11,937,414

⁽¹⁾ As of December 2025, the assets related to Multi Financial Group (MFG) were no longer presented line-by-line on the Consolidated Statements of Financial Position and were instead reported in a single line item within “Non-current assets held for sale”, see note 13.A.

Investments in equity securities at fair value through profit or loss held for trading


		December 31,			December 31,
		2025			2024
In Colombian Pesos
Corporate stock		Ps.	15,284		Ps.	13,453
Fiduciary assignments ⁽¹⁾			11,529			—
Investment funds ⁽²⁾⁽³⁾			6,600,357			4,757,848
Stabilization reserves ⁽⁴⁾			2,669,785			2,380,868
		Ps.	9,296,955		Ps.	7,152,169

In foreign currency
Corporate stock ⁽⁵⁾		Ps.	—		Ps.	4,813
Investment funds ⁽⁵⁾			771			99,524
		Ps.	771		Ps.	104,337
Total equity securities		Ps.	9,297,726		Ps.	7,256,506

⁽¹⁾Corresponds to a new investment by Banco de Occidente in the Credicorp PAF private equity fund.

⁽²⁾Grupo Aval has restricted collective investment funds related to Concesionaria Nueva Vía al Mar of Ps. 1,060,638, Concesionaria Vial del Pacífico of Ps. 1,768 and

Concesionaria Vial del Oriente of Ps. 209,664.

⁽³⁾Includes investments in the private real estate fund Nexus as of December 31, 2025 of Ps. 3,717,262 and as of December 31, 2024 of Ps. 2,772,165.

⁽⁴⁾Pursuant to Colombian rules, Porvenir S. A. is required to directly invest 1% of the total assets of these funds in mandatory severance and pension funds managed

by Porvenir.

⁽⁵⁾As of December 2025, the assets related to Multi Financial Group (MFG) were no longer presented line-by-line on the Consolidated Statements of Financial Position

and were instead reported in a single line item within “Non-current assets held for sale”, see note 13.A.

Schedule of held-for-trading derivative assets and liabilities


		December 31, 2025						December 31, 2024
		Assets			Liabilities			Assets			Liabilities
Forward contracts
Foreign currency to buy		Ps.	49,705		Ps.	940,232		Ps.	429,919		Ps.	62,051
Foreign currency to sell			997,678			51,415			100,705			610,639
Debt securities to buy			205			38,193			342			15,350
Debt securities to sell			310,782			665			116,711			628
Subtotal		Ps.	1,358,370		Ps.	1,030,505		Ps.	647,677		Ps.	688,668
Swap
Cross currency		Ps.	25,468		Ps.	36,441		Ps.	58,475		Ps.	52,455
Interest rate			781,447			832,470			222,830			221,822
Subtotal		Ps.	806,915		Ps.	868,911		Ps.	281,305		Ps.	274,277
Options contracts
Foreign currency to buy		Ps.	51,736		Ps.	—		Ps.	40,312		Ps.	—
Foreign currency to sell			—			52,023			—			48,989
Subtotal		Ps.	51,736		Ps.	52,023		Ps.	40,312		Ps.	48,989
Total derivative assets and liabilities trading		Ps.	2,217,021		Ps.	1,951,439		Ps.	969,294		Ps.	1,011,934