<?xml version="1.0" encoding="utf-8"?>
<!--XBRL document created with Toppan Merrill Bridge  11.2.0.5 -->
<!--Based on XBRL 2.1-->
<!--Created on: 4/16/2026 8:55:32 PM-->
<!--Modified on: 4/16/2026 8:55:32 PM-->
<xsd:schema targetNamespace="http://www.grupoaval.com/20251231" elementFormDefault="qualified" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:currency="http://xbrl.sec.gov/currency/2025" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:country="http://xbrl.sec.gov/country/2025" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:ifrs-full="https://xbrl.ifrs.org/taxonomy/2025-03-27/ifrs-full" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:srt="http://fasb.org/srt/2025" xmlns:srt-types="http://fasb.org/srt-types/2025" xmlns:aval="http://www.grupoaval.com/20251231" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2024-01-31" xmlns:enum2="http://xbrl.org/2020/extensible-enumerations-2.0" xmlns:deprecated="http://www.xbrl.org/2009/role/deprecated" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:utr="http://www.xbrl.org/2009/utr" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:dei="http://xbrl.sec.gov/dei/2025" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:attributeFormDefault="unqualified" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:us-roles="http://fasb.org/us-roles/2025" xmlns:dtr="http://www.xbrl.org/2009/dtr" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:ecd="http://xbrl.sec.gov/ecd/2025" xmlns:ecd-sub="http://xbrl.sec.gov/ecd-sub/2025" xmlns:cyd-af-sub="http://xbrl.sec.gov/cyd-af-sub/2025" xmlns:cyd="http://xbrl.sec.gov/cyd/2025">
  <xsd:annotation>
    <xsd:appinfo>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureStandardAndCustomAxisDomainDefaults" id="DisclosureStandardAndCustomAxisDomainDefaults">
        <link:definition>99900 - Disclosure - Standard And Custom Axis Domain Defaults</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/StatementConsolidatedStatementsOfFinancialPosition" id="StatementConsolidatedStatementsOfFinancialPosition">
        <link:definition>995200100 - Statement - Consolidated Statements of Financial Position</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/StatementConsolidatedStatementOfIncomeCalc2" id="StatementConsolidatedStatementOfIncomeCalc2">
        <link:definition>00200 - Statement - Consolidated Statement of Income (Calc 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/StatementConsolidatedStatementsOfIncome" id="StatementConsolidatedStatementsOfIncome">
        <link:definition>995200200 - Statement - Consolidated Statements of Income</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/StatementConsolidatedStatementOfOtherComprehensiveIncomeCalc2" id="StatementConsolidatedStatementOfOtherComprehensiveIncomeCalc2">
        <link:definition>00300 - Statement - Consolidated Statement of Other Comprehensive Income (Calc 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/StatementConsolidatedStatementsOfOtherComprehensiveIncome" id="StatementConsolidatedStatementsOfOtherComprehensiveIncome">
        <link:definition>995200300 - Statement - Consolidated Statements of Other Comprehensive Income</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/StatementConsolidatedStatementsOfCashFlows" id="StatementConsolidatedStatementsOfCashFlows">
        <link:definition>995200500 - Statement - Consolidated Statements of Cash Flows</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementConsolidatedCreditRiskExposureDetails" id="DisclosureRiskManagementConsolidatedCreditRiskExposureDetails">
        <link:definition>99940401 - Disclosure - RISK MANAGEMENT - Consolidated credit risk exposure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioCashAndCashEquivalentsDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioCashAndCashEquivalentsDetails">
        <link:definition>99940420 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Cash and cash equivalents (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementInvestmentDebtSecuritiesConcentrationBySovereignRiskTabularDisclosureDetails" id="DisclosureRiskManagementInvestmentDebtSecuritiesConcentrationBySovereignRiskTabularDisclosureDetails">
        <link:definition>99940442 - Disclosure - RISK MANAGEMENT - Investment debt securities - Concentration by sovereign risk - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementOffsetOfFinancialAssetsDetails" id="DisclosureRiskManagementOffsetOfFinancialAssetsDetails">
        <link:definition>99940447 - Disclosure - RISK MANAGEMENT - Offset of financial assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementOffsetOfFinancialLiabilitiesDetails" id="DisclosureRiskManagementOffsetOfFinancialLiabilitiesDetails">
        <link:definition>99940448 - Disclosure - RISK MANAGEMENT - Offset of financial liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementTradingBookRiskNetPositionDetails" id="DisclosureRiskManagementTradingBookRiskNetPositionDetails">
        <link:definition>99940451 - Disclosure - RISK MANAGEMENT - Trading book risk - Net position (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementMinimumRegulatoryCapitalRequirementsDetails" id="DisclosureRiskManagementMinimumRegulatoryCapitalRequirementsDetails">
        <link:definition>99940476 - Disclosure - RISK MANAGEMENT - Minimum regulatory capital requirements (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueMeasurementsAtFairValueOnNonRecurringBasisAssetsDetails" id="DisclosureEstimationOfFairValueMeasurementsAtFairValueOnNonRecurringBasisAssetsDetails">
        <link:definition>99940505 - Disclosure - ESTIMATION OF FAIR VALUE - Measurements at fair value on a non-recurring basis, assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAssetsAndFinancialLiabilitiesInterestIncomeInformationDetails" id="DisclosureAssetsAndFinancialLiabilitiesInterestIncomeInformationDetails">
        <link:definition>99940603 - Disclosure - ASSETS AND FINANCIAL LIABILITIES - Interest income information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAssetsAndFinancialLiabilitiesInterestExpenseDetails" id="DisclosureAssetsAndFinancialLiabilitiesInterestExpenseDetails">
        <link:definition>99940604 - Disclosure - ASSETS AND FINANCIAL LIABILITIES - Interest expense (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentSecuritiesAmountsReclassifiedToProfitOrLossFromOciBeforeTaxesDetails" id="DisclosureInvestmentSecuritiesAmountsReclassifiedToProfitOrLossFromOciBeforeTaxesDetails">
        <link:definition>99940904 - Disclosure - INVESTMENT SECURITIES - Amounts reclassified to profit or loss from OCI before taxes (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureHedgeAccountingMovementsOfOtherComprehensiveIncomeRelatedToHedgesOfNetInvestmentInForeignOperationsDetails" id="DisclosureHedgeAccountingMovementsOfOtherComprehensiveIncomeRelatedToHedgesOfNetInvestmentInForeignOperationsDetails">
        <link:definition>99941002 - Disclosure - HEDGE ACCOUNTING - Movements of other comprehensive income related to hedges of net investment in foreign operations (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureHedgeAccountingHedgingOperationsDetails" id="DisclosureHedgeAccountingHedgingOperationsDetails">
        <link:definition>99941003 - Disclosure - HEDGE ACCOUNTING - Hedging operations (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherAccountsReceivableNetOtherAccountsReceivableDetails" id="DisclosureOtherAccountsReceivableNetOtherAccountsReceivableDetails">
        <link:definition>99941204 - Disclosure - OTHER ACCOUNTS RECEIVABLE, NET - Other accounts receivable (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonCurrentAssetsHeldForSaleCompositionDetails" id="DisclosureNonCurrentAssetsHeldForSaleCompositionDetails">
        <link:definition>99941303 - Disclosure - NON-CURRENT ASSETS HELD FOR SALE - Composition (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonCurrentAssetsHeldForSaleAssociatedLiabilitiesToAssetsHeldForSaleDetails" id="DisclosureNonCurrentAssetsHeldForSaleAssociatedLiabilitiesToAssetsHeldForSaleDetails">
        <link:definition>99941304 - Disclosure - NON-CURRENT ASSETS HELD FOR SALE - Associated liabilities to assets held for sale (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonCurrentAssetsHeldForSaleAssetsAndLiabilitiesClassifiedAsHeldForSaleImpairmentEstimateRecognizedInBalanceSheetAccountsDetails" id="DisclosureNonCurrentAssetsHeldForSaleAssetsAndLiabilitiesClassifiedAsHeldForSaleImpairmentEstimateRecognizedInBalanceSheetAccountsDetails">
        <link:definition>99941306 - Disclosure - NON-CURRENT ASSETS HELD FOR SALE - Assets and liabilities classified as held for sale - Impairment estimate recognized in balance sheet accounts (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonCurrentAssetsHeldForSaleAssetsAndLiabilitiesClassifiedAsHeldForSaleAssetsAndLiabilitiesReclassifiedDetails" id="DisclosureNonCurrentAssetsHeldForSaleAssetsAndLiabilitiesClassifiedAsHeldForSaleAssetsAndLiabilitiesReclassifiedDetails">
        <link:definition>99941307 - Disclosure - NON-CURRENT ASSETS HELD FOR SALE - Assets and liabilities classified as held for sale - Assets and liabilities reclassified (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonCurrentAssetsHeldForSaleDiscontinuedOperationStatementOfIncomeDetails" id="DisclosureNonCurrentAssetsHeldForSaleDiscontinuedOperationStatementOfIncomeDetails">
        <link:definition>99941308 - Disclosure - NON-CURRENT ASSETS HELD FOR SALE - Discontinued operation - Statement of income (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonCurrentAssetsHeldForSaleDiscontinuedOperationTotalComprehensiveIncomeDetails" id="DisclosureNonCurrentAssetsHeldForSaleDiscontinuedOperationTotalComprehensiveIncomeDetails">
        <link:definition>99941310 - Disclosure - NON-CURRENT ASSETS HELD FOR SALE - Discontinued operation - Total comprehensive income (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentsInAssociatesAndJointVenturesTabularDisclosureDetails" id="DisclosureInvestmentsInAssociatesAndJointVenturesTabularDisclosureDetails">
        <link:definition>99941401 - Disclosure - INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTangibleAssetsInvestmentPropertiesSummaryDetails" id="DisclosureTangibleAssetsInvestmentPropertiesSummaryDetails">
        <link:definition>99941504 - Disclosure - TANGIBLE ASSETS - Investment properties - Summary (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTangibleAssetsInvestmentPropertiesAmountsRecognizedInStatementOfIncomeDetails" id="DisclosureTangibleAssetsInvestmentPropertiesAmountsRecognizedInStatementOfIncomeDetails">
        <link:definition>99941505 - Disclosure - TANGIBLE ASSETS - Investment properties - Amounts recognized in statement of income (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTangibleAssetsNonCashItemsInvestingAndFinancingActivitiesDetails" id="DisclosureTangibleAssetsNonCashItemsInvestingAndFinancingActivitiesDetails">
        <link:definition>99941507 - Disclosure - TANGIBLE ASSETS - Non-cash items, investing and financing activities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxComponentsOfIncomeTaxExpenseDetails" id="DisclosureIncomeTaxComponentsOfIncomeTaxExpenseDetails">
        <link:definition>99941901 - Disclosure - INCOME TAX - Components of income tax expense (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxReconciliationBetweenTotalExpensesOfIncomeTaxAndTaxExpenseTabularDisclosureDetails" id="DisclosureIncomeTaxReconciliationBetweenTotalExpensesOfIncomeTaxAndTaxExpenseTabularDisclosureDetails">
        <link:definition>99941903 - Disclosure - INCOME TAX - Reconciliation between total expenses of income tax and tax expense - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxTaxLossesAndExcessOfPresumptiveIncomeDetails" id="DisclosureIncomeTaxTaxLossesAndExcessOfPresumptiveIncomeDetails">
        <link:definition>99941904 - Disclosure - INCOME TAX - Tax losses and excess of presumptive income (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxDeferredTaxAssetsAndLiabilitiesStatementOfFinancialPositionDetails" id="DisclosureIncomeTaxDeferredTaxAssetsAndLiabilitiesStatementOfFinancialPositionDetails">
        <link:definition>99941909 - Disclosure - INCOME TAX - Deferred tax assets and liabilities - Statement of financial position (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxEffectOfCurrentAndDeferredTaxesInEachComponentOfOtherComprehensiveIncomeInEquityTabularDisclosureDetails" id="DisclosureIncomeTaxEffectOfCurrentAndDeferredTaxesInEachComponentOfOtherComprehensiveIncomeInEquityTabularDisclosureDetails">
        <link:definition>99941912 - Disclosure - INCOME TAX - Effect of the current and deferred taxes in each component of other comprehensive income in equity - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureCustomerDepositsDepositsTabularDisclosureDetails" id="DisclosureCustomerDepositsDepositsTabularDisclosureDetails">
        <link:definition>99942001 - Disclosure - CUSTOMER DEPOSITS - Deposits - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureFinancialObligationsInterbankBorrowingsOvernightFundsTabularDisclosureDetails" id="DisclosureFinancialObligationsInterbankBorrowingsOvernightFundsTabularDisclosureDetails">
        <link:definition>99942101 - Disclosure - FINANCIAL OBLIGATIONS - Interbank borrowings, overnight funds - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEmployeeBenefitsLiabilitiesForEmployeeBenefitsDetails" id="DisclosureEmployeeBenefitsLiabilitiesForEmployeeBenefitsDetails">
        <link:definition>99942301 - Disclosure - EMPLOYEE BENEFITS - Liabilities for employee benefits (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEmployeeBenefitsPostEmploymentBenefitExpenseDetails" id="DisclosureEmployeeBenefitsPostEmploymentBenefitExpenseDetails">
        <link:definition>99942302 - Disclosure - EMPLOYEE BENEFITS - Post-employment benefit expense (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEmployeeBenefitsPostEmploymentAndLongTermBenefitsMovementsDetails" id="DisclosureEmployeeBenefitsPostEmploymentAndLongTermBenefitsMovementsDetails">
        <link:definition>99942303 - Disclosure - EMPLOYEE BENEFITS - Post-employment and long-term benefits movements (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherLiabilitiesAccountsPayableAndOtherLiabilitiesTabularDisclosureDetails" id="DisclosureOtherLiabilitiesAccountsPayableAndOtherLiabilitiesTabularDisclosureDetails">
        <link:definition>99942401 - Disclosure - OTHER LIABILITIES - Accounts payable and other liabilities - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherLiabilitiesClassificationDetails" id="DisclosureOtherLiabilitiesClassificationDetails">
        <link:definition>99942402 - Disclosure - OTHER LIABILITIES - Classification (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentAuthorizedAndSubscribedSharesDetails" id="DisclosureEquityAttributableToOwnersOfParentAuthorizedAndSubscribedSharesDetails">
        <link:definition>99942501 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Authorized and subscribed shares (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentAppropriatedRetainedEarningsDetails" id="DisclosureEquityAttributableToOwnersOfParentAppropriatedRetainedEarningsDetails">
        <link:definition>99942504 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Appropriated retained earnings (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentEarningsPerShareTabularDisclosureDetails" id="DisclosureEquityAttributableToOwnersOfParentEarningsPerShareTabularDisclosureDetails">
        <link:definition>99942507 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Earnings per share - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentEarningsPerShareContinuingOperationsDetails" id="DisclosureEquityAttributableToOwnersOfParentEarningsPerShareContinuingOperationsDetails">
        <link:definition>99942508 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Earnings per share - Continuing operations (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentEarningsPerShareDiscontinuedOperationsDetails" id="DisclosureEquityAttributableToOwnersOfParentEarningsPerShareDiscontinuedOperationsDetails">
        <link:definition>99942509 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Earnings per share - Discontinued operations (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentConsolidatedOtherComprehensiveIncomeComponentsDetails" id="DisclosureEquityAttributableToOwnersOfParentConsolidatedOtherComprehensiveIncomeComponentsDetails">
        <link:definition>99942513 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Consolidated other comprehensive income - Components (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNetIncomeFromContractsWithCustomersIncomeAndExpensesDetails" id="DisclosureNetIncomeFromContractsWithCustomersIncomeAndExpensesDetails">
        <link:definition>99942801 - Disclosure - NET INCOME FROM CONTRACTS WITH CUSTOMERS - Income and expenses (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNetIncomeFromContractsWithCustomersIncomeAndCostForGoodsAndServicesDetails" id="DisclosureNetIncomeFromContractsWithCustomersIncomeAndCostForGoodsAndServicesDetails">
        <link:definition>99942802 - Disclosure - NET INCOME FROM CONTRACTS WITH CUSTOMERS - Income and cost for goods and services (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherIncomeAndExpenseOtherIncomeTabularDisclosureDetails" id="DisclosureOtherIncomeAndExpenseOtherIncomeTabularDisclosureDetails">
        <link:definition>99943001 - Disclosure - OTHER INCOME AND EXPENSE - Other income - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherIncomeAndExpenseOtherExpenseDetails" id="DisclosureOtherIncomeAndExpenseOtherExpenseDetails">
        <link:definition>99943003 - Disclosure - OTHER INCOME AND EXPENSE - Other expense (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAnalysisOfOperatingSegmentsStatementOfIncomeDetails" id="DisclosureAnalysisOfOperatingSegmentsStatementOfIncomeDetails">
        <link:definition>99943104 - Disclosure - ANALYSIS OF OPERATING SEGMENTS - Statement of income (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRelatedPartiesCompensationOfKeyManagementPersonnelDetails" id="DisclosureRelatedPartiesCompensationOfKeyManagementPersonnelDetails">
        <link:definition>99943403 - Disclosure - RELATED PARTIES - Compensation of key management personnel (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureSubsequentEventsAcquisitionNetAssetsAcquiredAndLiabilitiesAssumedDetails" id="DisclosureSubsequentEventsAcquisitionNetAssetsAcquiredAndLiabilitiesAssumedDetails">
        <link:definition>99943602 - Disclosure - SUBSEQUENT EVENTS - Acquisition - Net assets acquired and liabilities assumed (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureSubsequentEventsGeneralMeetingOfShareholdersDetails" id="DisclosureSubsequentEventsGeneralMeetingOfShareholdersDetails">
        <link:definition>99943607 - Disclosure - SUBSEQUENT EVENTS - General meeting of shareholders (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DocumentDocumentAndEntityInformation" id="DocumentDocumentAndEntityInformation">
        <link:definition>995200090 - Document - Document and Entity Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/StatementConsolidatedStatementsOfChangesInEquity" id="StatementConsolidatedStatementsOfChangesInEquity">
        <link:definition>995200400 - Statement - Consolidated Statements of Changes in Equity</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureReportingEntityTables" id="DisclosureReportingEntityTables">
        <link:definition>99930103 - Disclosure - REPORTING ENTITY (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementTables" id="DisclosureRiskManagementTables">
        <link:definition>99930403 - Disclosure - RISK MANAGEMENT (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueTables" id="DisclosureEstimationOfFairValueTables">
        <link:definition>99930503 - Disclosure - ESTIMATION OF FAIR VALUE (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureHedgeAccountingTables" id="DisclosureHedgeAccountingTables">
        <link:definition>99931003 - Disclosure - HEDGE ACCOUNTING (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherAccountsReceivableNetTables" id="DisclosureOtherAccountsReceivableNetTables">
        <link:definition>99931203 - Disclosure - OTHER ACCOUNTS RECEIVABLE, NET (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentsInAssociatesAndJointVenturesTables" id="DisclosureInvestmentsInAssociatesAndJointVenturesTables">
        <link:definition>99931403 - Disclosure - INVESTMENTS IN ASSOCIATES AND JOINT VENTURES (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTangibleAssetsTables" id="DisclosureTangibleAssetsTables">
        <link:definition>99931503 - Disclosure - TANGIBLE ASSETS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureGoodwillTables" id="DisclosureGoodwillTables">
        <link:definition>99931703 - Disclosure - GOODWILL (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxTables" id="DisclosureIncomeTaxTables">
        <link:definition>99931903 - Disclosure - INCOME TAX (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureReportingEntityTabularDisclosureDetails" id="DisclosureReportingEntityTabularDisclosureDetails">
        <link:definition>99940101 - Disclosure - REPORTING ENTITY - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureReportingEntityTextualDetails" id="DisclosureReportingEntityTextualDetails">
        <link:definition>99940102 - Disclosure - REPORTING ENTITY - Textual (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureBasisOfPreparationOfConsolidatedFinancialStatementsAndSummaryOfMaterialAccountingPoliciesTextualDetails" id="DisclosureBasisOfPreparationOfConsolidatedFinancialStatementsAndSummaryOfMaterialAccountingPoliciesTextualDetails">
        <link:definition>99940201 - Disclosure - BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF MATERIAL ACCOUNTING POLICIES - Textual (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureBasisOfPreparationOfConsolidatedFinancialStatementsAndSummaryOfMaterialAccountingPoliciesPropertyPlantAndEquipmentForOwnUseDetails" id="DisclosureBasisOfPreparationOfConsolidatedFinancialStatementsAndSummaryOfMaterialAccountingPoliciesPropertyPlantAndEquipmentForOwnUseDetails">
        <link:definition>99940202 - Disclosure - BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF MATERIAL ACCOUNTING POLICIES - Property, plant and equipment for own use (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureBasisOfPreparationOfConsolidatedFinancialStatementsAndSummaryOfMaterialAccountingPoliciesOtherIntangibleAssetsDetails" id="DisclosureBasisOfPreparationOfConsolidatedFinancialStatementsAndSummaryOfMaterialAccountingPoliciesOtherIntangibleAssetsDetails">
        <link:definition>99940203 - Disclosure - BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF MATERIAL ACCOUNTING POLICIES - Other intangible assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementLoansRecordedAtAmortizedCostDetails" id="DisclosureRiskManagementLoansRecordedAtAmortizedCostDetails">
        <link:definition>99940402 - Disclosure - RISK MANAGEMENT - Loans recorded at amortized cost (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementProbabilityOfDefaultAnalysisDetails" id="DisclosureRiskManagementProbabilityOfDefaultAnalysisDetails">
        <link:definition>99940404 - Disclosure - RISK MANAGEMENT - Probability of default analysis (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioTradingInvestmentsInDebtSecuritiesDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioTradingInvestmentsInDebtSecuritiesDetails">
        <link:definition>99940405 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Trading investments in debt securities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioInvestmentsInDebtSecuritiesAtFvtplDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioInvestmentsInDebtSecuritiesAtFvtplDetails">
        <link:definition>99940406 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Investments in debt securities at FVTPL (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioInvestmentsInDebtSecuritiesAtFvociDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioInvestmentsInDebtSecuritiesAtFvociDetails">
        <link:definition>99940407 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Investments in debt securities at FVOCI (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioInvestmentsInDebtSecuritiesAtAmortizedCostDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioInvestmentsInDebtSecuritiesAtAmortizedCostDetails">
        <link:definition>99940408 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Investments in debt securities at amortized cost (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioOtherAccountsReceivableAtFvtplDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioOtherAccountsReceivableAtFvtplDetails">
        <link:definition>99940409 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Other accounts receivable at FVTPL (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioOtherAccountsReceivableAtAmortizedCostGeneralDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioOtherAccountsReceivableAtAmortizedCostGeneralDetails">
        <link:definition>99940410 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Other accounts receivable at amortized cost - General (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioOtherAccountsReceivableAtAmortizedCostEvaluatedUsingGeneralApproachOtherAccountsReceivableAndContractAssetsForCorporateCustomersDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioOtherAccountsReceivableAtAmortizedCostEvaluatedUsingGeneralApproachOtherAccountsReceivableAndContractAssetsForCorporateCustomersDetails">
        <link:definition>99940411 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Other accounts receivable at amortized cost - Evaluated using general approach - Other accounts receivable and contract assets for corporate customers (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioOtherAccountsReceivableAtAmortizedCostEvaluatedUsingGeneralApproachBySegmentDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioOtherAccountsReceivableAtAmortizedCostEvaluatedUsingGeneralApproachBySegmentDetails">
        <link:definition>99940412 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Other accounts receivable at amortized cost - Evaluated using general approach - By segment (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioOtherAccountsReceivableAtAmortizedCostEvaluatedUsingSimplifiedApproachDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioOtherAccountsReceivableAtAmortizedCostEvaluatedUsingSimplifiedApproachDetails">
        <link:definition>99940413 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Other accounts receivable at amortized cost - Evaluated using simplified approach (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioDerivativeInstrumentsAssetsDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioDerivativeInstrumentsAssetsDetails">
        <link:definition>99940414 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Derivative instruments - Assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioDerivativeInstrumentsTradingDerivativesAssetsDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioDerivativeInstrumentsTradingDerivativesAssetsDetails">
        <link:definition>99940415 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Derivative instruments - Trading derivatives - Assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioDerivativeInstrumentsTradingDerivativesLiabilitiesDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioDerivativeInstrumentsTradingDerivativesLiabilitiesDetails">
        <link:definition>99940416 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Derivative instruments - Trading derivatives - Liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioDerivativeInstrumentsHedgingDerivativesAssetsDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioDerivativeInstrumentsHedgingDerivativesAssetsDetails">
        <link:definition>99940417 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Derivative instruments - Hedging derivatives - Assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioDerivativeInstrumentsHedgingDerivativesLiabilitiesDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioDerivativeInstrumentsHedgingDerivativesLiabilitiesDetails">
        <link:definition>99940418 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Derivative instruments - Hedging derivatives - Liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementMitigationOfCreditRiskCollateralAndOtherDetails" id="DisclosureRiskManagementMitigationOfCreditRiskCollateralAndOtherDetails">
        <link:definition>99940421 - Disclosure - RISK MANAGEMENT - Mitigation of credit risk, collateral and other (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditPortfolioPerTypeOfGuaranteesReceivedDetails" id="DisclosureRiskManagementCreditPortfolioPerTypeOfGuaranteesReceivedDetails">
        <link:definition>99940422 - Disclosure - RISK MANAGEMENT - Credit portfolio per type of guarantees received (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementIdentifiableCollateralDetails" id="DisclosureRiskManagementIdentifiableCollateralDetails">
        <link:definition>99940423 - Disclosure - RISK MANAGEMENT - Identifiable collateral (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditRiskModelScenarioTablesDetails" id="DisclosureRiskManagementCreditRiskModelScenarioTablesDetails">
        <link:definition>99940424 - Disclosure - RISK MANAGEMENT - Credit risk model scenario tables (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementScenarioOfProbabilityWeightingInMeasuringEclDetails" id="DisclosureRiskManagementScenarioOfProbabilityWeightingInMeasuringEclDetails">
        <link:definition>99940425 - Disclosure - RISK MANAGEMENT - Scenario of probability weighting in measuring ECL (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditRiskModelScenariosGrossExposureDetails" id="DisclosureRiskManagementCreditRiskModelScenariosGrossExposureDetails">
        <link:definition>99940426 - Disclosure - RISK MANAGEMENT - Credit risk model scenarios - Gross exposure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditRiskModelScenariosLossAllowanceDetails" id="DisclosureRiskManagementCreditRiskModelScenariosLossAllowanceDetails">
        <link:definition>99940427 - Disclosure - RISK MANAGEMENT - Credit risk model scenarios - Loss allowance (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditRiskModelScenariosProportionOfAssetsInStage2Details" id="DisclosureRiskManagementCreditRiskModelScenariosProportionOfAssetsInStage2Details">
        <link:definition>99940428 - Disclosure - RISK MANAGEMENT - Credit risk model scenarios - Proportion of assets in Stage 2 (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditRiskModelDebtSecuritiesDetails" id="DisclosureRiskManagementCreditRiskModelDebtSecuritiesDetails">
        <link:definition>99940429 - Disclosure - RISK MANAGEMENT - Credit risk model - Debt securities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditRiskModelLossAllowanceDetails" id="DisclosureRiskManagementCreditRiskModelLossAllowanceDetails">
        <link:definition>99940430 - Disclosure - RISK MANAGEMENT - Credit risk model - Loss allowance (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditRiskModelImpairmentLossesDetails" id="DisclosureRiskManagementCreditRiskModelImpairmentLossesDetails">
        <link:definition>99940431 - Disclosure - RISK MANAGEMENT - Credit risk model - Impairment losses (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementLoansIndividuallyEvaluatedForImpairmentDetails" id="DisclosureRiskManagementLoansIndividuallyEvaluatedForImpairmentDetails">
        <link:definition>99940432 - Disclosure - RISK MANAGEMENT - Loans individually evaluated for impairment (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementLossAllowanceRollForwardDetails" id="DisclosureRiskManagementLossAllowanceRollForwardDetails">
        <link:definition>99940433 - Disclosure - RISK MANAGEMENT - Loss allowance roll forward (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementImpactOfMeasurementOfEclDetails" id="DisclosureRiskManagementImpactOfMeasurementOfEclDetails">
        <link:definition>99940434 - Disclosure - RISK MANAGEMENT - Impact of the measurement of ECL (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementChangesInGrossCarryingAmountDetails" id="DisclosureRiskManagementChangesInGrossCarryingAmountDetails">
        <link:definition>99940435 - Disclosure - RISK MANAGEMENT - Changes in gross carrying amount (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementConcentrationsOfCreditRiskConcentrationBySectorDetails" id="DisclosureRiskManagementConcentrationsOfCreditRiskConcentrationBySectorDetails">
        <link:definition>99940436 - Disclosure - RISK MANAGEMENT - Concentrations of credit risk - Concentration by sector (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementConcentrationsOfCreditRiskConcentrationByCountryDetails" id="DisclosureRiskManagementConcentrationsOfCreditRiskConcentrationByCountryDetails">
        <link:definition>99940437 - Disclosure - RISK MANAGEMENT - Concentrations of credit risk - Concentration by country (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementConcentrationsOfCreditRiskConcentrationByCurrencyTabularDisclosureDetails" id="DisclosureRiskManagementConcentrationsOfCreditRiskConcentrationByCurrencyTabularDisclosureDetails">
        <link:definition>99940438 - Disclosure - RISK MANAGEMENT - Concentrations of credit risk - Concentration by currency - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementConcentrationsOfCreditRiskConcentrationByCurrencyAdditionalInformationDetails" id="DisclosureRiskManagementConcentrationsOfCreditRiskConcentrationByCurrencyAdditionalInformationDetails">
        <link:definition>99940439 - Disclosure - RISK MANAGEMENT - Concentrations of credit risk - Concentration by currency - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementInvestmentDebtSecuritiesConcentrationBySectorDetails" id="DisclosureRiskManagementInvestmentDebtSecuritiesConcentrationBySectorDetails">
        <link:definition>99940440 - Disclosure - RISK MANAGEMENT - Investment debt securities - Concentration by sector (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementInvestmentDebtSecuritiesConcentrationByLocationDetails" id="DisclosureRiskManagementInvestmentDebtSecuritiesConcentrationByLocationDetails">
        <link:definition>99940441 - Disclosure - RISK MANAGEMENT - Investment debt securities - Concentration by location (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementModifiedFinancialAssetsRestructuredLoansDetails" id="DisclosureRiskManagementModifiedFinancialAssetsRestructuredLoansDetails">
        <link:definition>99940444 - Disclosure - RISK MANAGEMENT - Modified financial assets - Restructured loans (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementModifiedFinancialAssetsCreditCommitmentsDetails" id="DisclosureRiskManagementModifiedFinancialAssetsCreditCommitmentsDetails">
        <link:definition>99940446 - Disclosure - RISK MANAGEMENT - Modified financial assets - Credit commitments (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementTradingBookRiskAssetsDetails" id="DisclosureRiskManagementTradingBookRiskAssetsDetails">
        <link:definition>99940449 - Disclosure - RISK MANAGEMENT - Trading book risk - Assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementTradingBookRiskLiabilitiesDetails" id="DisclosureRiskManagementTradingBookRiskLiabilitiesDetails">
        <link:definition>99940450 - Disclosure - RISK MANAGEMENT - Trading book risk - Liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementRiskManagementRegulatoryDetails" id="DisclosureRiskManagementRiskManagementRegulatoryDetails">
        <link:definition>99940452 - Disclosure - RISK MANAGEMENT - Risk management - Regulatory (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementRiskManagementValueAtRiskTabularDisclosureDetails" id="DisclosureRiskManagementRiskManagementValueAtRiskTabularDisclosureDetails">
        <link:definition>99940453 - Disclosure - RISK MANAGEMENT - Risk management - Value at risk - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementRiskManagementValueAtRiskAdditionalInformationDetails" id="DisclosureRiskManagementRiskManagementValueAtRiskAdditionalInformationDetails">
        <link:definition>99940454 - Disclosure - RISK MANAGEMENT - Risk management - Value at risk - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementStructuralForeignExchangeRiskFinancialAssetsDetails" id="DisclosureRiskManagementStructuralForeignExchangeRiskFinancialAssetsDetails">
        <link:definition>99940456 - Disclosure - RISK MANAGEMENT - Structural foreign exchange risk - Financial assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementStructuralForeignExchangeRiskFinancialLiabilitiesDetails" id="DisclosureRiskManagementStructuralForeignExchangeRiskFinancialLiabilitiesDetails">
        <link:definition>99940457 - Disclosure - RISK MANAGEMENT - Structural foreign exchange risk - Financial liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementStructuralForeignExchangeRiskNetFinancialAssetLiabilityPositionDetails" id="DisclosureRiskManagementStructuralForeignExchangeRiskNetFinancialAssetLiabilityPositionDetails">
        <link:definition>99940458 - Disclosure - RISK MANAGEMENT - Structural foreign exchange risk - Net financial asset (liability) position (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementStructuralForeignExchangeRiskInterestRateRiskInBankingBookDetails" id="DisclosureRiskManagementStructuralForeignExchangeRiskInterestRateRiskInBankingBookDetails">
        <link:definition>99940460 - Disclosure - RISK MANAGEMENT - Structural foreign exchange risk - Interest rate risk in the Banking Book (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementStructuralForeignExchangeRiskResultsOfDeltaEveAndDeltaNimMeasurementsDetails" id="DisclosureRiskManagementStructuralForeignExchangeRiskResultsOfDeltaEveAndDeltaNimMeasurementsDetails">
        <link:definition>99940461 - Disclosure - RISK MANAGEMENT - Structural foreign exchange risk - Results of Delta EVE and Delta NIM measurements (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementStructuralInterestRateRiskResultsOfNimAndEveShocksDetails" id="DisclosureRiskManagementStructuralInterestRateRiskResultsOfNimAndEveShocksDetails">
        <link:definition>99940462 - Disclosure - RISK MANAGEMENT - Structural interest rate risk - Results of NIM and EVE Shocks (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementStructuralInterestRateRiskFinancialAssetsDetails" id="DisclosureRiskManagementStructuralInterestRateRiskFinancialAssetsDetails">
        <link:definition>99940463 - Disclosure - RISK MANAGEMENT - Structural interest rate risk - Financial assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementStructuralInterestRateRiskFinancialLiabilitiesDetails" id="DisclosureRiskManagementStructuralInterestRateRiskFinancialLiabilitiesDetails">
        <link:definition>99940464 - Disclosure - RISK MANAGEMENT - Structural interest rate risk - Financial liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementStructuralInterestRateRiskInterestBearingAssetsDetails" id="DisclosureRiskManagementStructuralInterestRateRiskInterestBearingAssetsDetails">
        <link:definition>99940466 - Disclosure - RISK MANAGEMENT - Structural interest rate risk - Interest bearing assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementStructuralInterestRateRiskInterestBearingLiabilitiesDetails" id="DisclosureRiskManagementStructuralInterestRateRiskInterestBearingLiabilitiesDetails">
        <link:definition>99940467 - Disclosure - RISK MANAGEMENT - Structural interest rate risk - Interest bearing liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementLiquidityRiskLiquidAssetsAndLriDetails" id="DisclosureRiskManagementLiquidityRiskLiquidAssetsAndLriDetails">
        <link:definition>99940469 - Disclosure - RISK MANAGEMENT - Liquidity risk - Liquid assets and LRI (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementLiquidityRiskAmountOfIrlRatioDetails" id="DisclosureRiskManagementLiquidityRiskAmountOfIrlRatioDetails">
        <link:definition>99940470 - Disclosure - RISK MANAGEMENT - Liquidity risk - Amount of IRL ratio (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementLiquidityRiskPercentageOfIrlRatioDetails" id="DisclosureRiskManagementLiquidityRiskPercentageOfIrlRatioDetails">
        <link:definition>99940471 - Disclosure - RISK MANAGEMENT - Liquidity risk - Percentage of IRL ratio (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementLiquidityRiskUndiscountedCashFlowsOfFinancialAssetsDetails" id="DisclosureRiskManagementLiquidityRiskUndiscountedCashFlowsOfFinancialAssetsDetails">
        <link:definition>99940472 - Disclosure - RISK MANAGEMENT - Liquidity risk - Undiscounted cash flows of financial assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementLiquidityRiskUndiscountedCashFlowsOfFinancialLiabilitiesDetails" id="DisclosureRiskManagementLiquidityRiskUndiscountedCashFlowsOfFinancialLiabilitiesDetails">
        <link:definition>99940473 - Disclosure - RISK MANAGEMENT - Liquidity risk - Undiscounted cash flows of financial liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementLiquidityRiskUndiscountedCashFlowsOfCommitmentLoansDetails" id="DisclosureRiskManagementLiquidityRiskUndiscountedCashFlowsOfCommitmentLoansDetails">
        <link:definition>99940474 - Disclosure - RISK MANAGEMENT - Liquidity risk - Undiscounted cash flows of commitment loans (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementRegulatoryCapitalManagementDetails" id="DisclosureRiskManagementRegulatoryCapitalManagementDetails">
        <link:definition>99940475 - Disclosure - RISK MANAGEMENT - Regulatory capital management (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueMeasurementsOfFairValueOfAssetsOnRecurringBasisDetails" id="DisclosureEstimationOfFairValueMeasurementsOfFairValueOfAssetsOnRecurringBasisDetails">
        <link:definition>99940501 - Disclosure - ESTIMATION OF FAIR VALUE - Measurements of fair value of assets on a recurring basis (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueMeasurementsOfFairValueOfLiabilitiesOnRecurringBasisDetails" id="DisclosureEstimationOfFairValueMeasurementsOfFairValueOfLiabilitiesOnRecurringBasisDetails">
        <link:definition>99940502 - Disclosure - ESTIMATION OF FAIR VALUE - Measurements of fair value of liabilities on a recurring basis (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueTradingAssetsInDebtSecuritiesPledgedAsCollateralDetails" id="DisclosureEstimationOfFairValueTradingAssetsInDebtSecuritiesPledgedAsCollateralDetails">
        <link:definition>99940503 - Disclosure - ESTIMATION OF FAIR VALUE - Trading assets in debt securities pledged as collateral (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueInvestmentInDebtSecuritiesPledgedAsCollateralDetails" id="DisclosureEstimationOfFairValueInvestmentInDebtSecuritiesPledgedAsCollateralDetails">
        <link:definition>99940504 - Disclosure - ESTIMATION OF FAIR VALUE - Investment in debt securities pledged as collateral (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueMeasurementsAtFairValueOnNonRecurringBasisLiabilitiesDetails" id="DisclosureEstimationOfFairValueMeasurementsAtFairValueOnNonRecurringBasisLiabilitiesDetails">
        <link:definition>99940506 - Disclosure - ESTIMATION OF FAIR VALUE - Measurements at fair value on a non-recurring basis, liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueValuationOfEquityInstrumentsLevel3Details" id="DisclosureEstimationOfFairValueValuationOfEquityInstrumentsLevel3Details">
        <link:definition>99940507 - Disclosure - ESTIMATION OF FAIR VALUE - Valuation of equity instruments level 3 (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueSensitivityAnalysisOfMainEquitySecuritiesDetails" id="DisclosureEstimationOfFairValueSensitivityAnalysisOfMainEquitySecuritiesDetails">
        <link:definition>99940509 - Disclosure - ESTIMATION OF FAIR VALUE - Sensitivity analysis of main equity securities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueSensitivityAnalysisDetails" id="DisclosureEstimationOfFairValueSensitivityAnalysisDetails">
        <link:definition>99940510 - Disclosure - ESTIMATION OF FAIR VALUE - Sensitivity analysis (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueTransfersBetweenLevel1Level2AndLevel3OfFairValueHierarchyDetails" id="DisclosureEstimationOfFairValueTransfersBetweenLevel1Level2AndLevel3OfFairValueHierarchyDetails">
        <link:definition>99940511 - Disclosure - ESTIMATION OF FAIR VALUE - Transfers between level 1, level 2 and level 3 of the fair value hierarchy (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueReconciliationLevel3OfFairValueHierarchyTabularDisclosureDetails" id="DisclosureEstimationOfFairValueReconciliationLevel3OfFairValueHierarchyTabularDisclosureDetails">
        <link:definition>99940512 - Disclosure - ESTIMATION OF FAIR VALUE - Reconciliation Level 3 of the fair value hierarchy - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueReconciliationLevel3OfFairValueHierarchyAdditionalInformationDetails" id="DisclosureEstimationOfFairValueReconciliationLevel3OfFairValueHierarchyAdditionalInformationDetails">
        <link:definition>99940513 - Disclosure - ESTIMATION OF FAIR VALUE - Reconciliation Level 3 of the fair value hierarchy - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueFairValueOfFinancialAssetsRecognizedAtAmortizedCostDetails" id="DisclosureEstimationOfFairValueFairValueOfFinancialAssetsRecognizedAtAmortizedCostDetails">
        <link:definition>99940514 - Disclosure - ESTIMATION OF FAIR VALUE - Fair value of financial assets recognized at amortized cost (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueFairValueOfFinancialLiabilitiesRecognizedAtAmortizedCostDetails" id="DisclosureEstimationOfFairValueFairValueOfFinancialLiabilitiesRecognizedAtAmortizedCostDetails">
        <link:definition>99940515 - Disclosure - ESTIMATION OF FAIR VALUE - Fair value of financial liabilities recognized at amortized cost (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueTextualDetails" id="DisclosureEstimationOfFairValueTextualDetails">
        <link:definition>99940516 - Disclosure - ESTIMATION OF FAIR VALUE - Textual (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAssetsAndFinancialLiabilitiesFinancialAssetsDetails" id="DisclosureAssetsAndFinancialLiabilitiesFinancialAssetsDetails">
        <link:definition>99940601 - Disclosure - ASSETS AND FINANCIAL LIABILITIES - Financial assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAssetsAndFinancialLiabilitiesFinancialLiabilitiesDetails" id="DisclosureAssetsAndFinancialLiabilitiesFinancialLiabilitiesDetails">
        <link:definition>99940602 - Disclosure - ASSETS AND FINANCIAL LIABILITIES - Financial liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureCashAndCashEquivalentsTabularDisclosureDetails" id="DisclosureCashAndCashEquivalentsTabularDisclosureDetails">
        <link:definition>99940701 - Disclosure - CASH AND CASH EQUIVALENTS - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureCashAndCashEquivalentsTextualDetails" id="DisclosureCashAndCashEquivalentsTextualDetails">
        <link:definition>99940702 - Disclosure - CASH AND CASH EQUIVALENTS - Textual (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTradingAssetsAndLiabilitiesTradingAssetsDetails" id="DisclosureTradingAssetsAndLiabilitiesTradingAssetsDetails">
        <link:definition>99940801 - Disclosure - TRADING ASSETS AND LIABILITIES - Trading assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTradingAssetsAndLiabilitiesTradingLiabilitiesDetails" id="DisclosureTradingAssetsAndLiabilitiesTradingLiabilitiesDetails">
        <link:definition>99940802 - Disclosure - TRADING ASSETS AND LIABILITIES - Trading liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTradingAssetsAndLiabilitiesInvestmentsInDebtSecuritiesAtFairValueDetails" id="DisclosureTradingAssetsAndLiabilitiesInvestmentsInDebtSecuritiesAtFairValueDetails">
        <link:definition>99940804 - Disclosure - TRADING ASSETS AND LIABILITIES - Investments in debt securities at fair value (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTradingAssetsAndLiabilitiesInvestmentsInEquitySecuritiesAtFairValueDetails" id="DisclosureTradingAssetsAndLiabilitiesInvestmentsInEquitySecuritiesAtFairValueDetails">
        <link:definition>99940805 - Disclosure - TRADING ASSETS AND LIABILITIES - Investments in equity securities at fair value (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTradingAssetsAndLiabilitiesTradingDerivativeAssetsDetails" id="DisclosureTradingAssetsAndLiabilitiesTradingDerivativeAssetsDetails">
        <link:definition>99940806 - Disclosure - TRADING ASSETS AND LIABILITIES - Trading derivative assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTradingAssetsAndLiabilitiesTradingDerivativeLiabilitiesDetails" id="DisclosureTradingAssetsAndLiabilitiesTradingDerivativeLiabilitiesDetails">
        <link:definition>99940807 - Disclosure - TRADING ASSETS AND LIABILITIES - Trading derivative liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentSecuritiesBalancesOfInvestmentSecuritiesDetails" id="DisclosureInvestmentSecuritiesBalancesOfInvestmentSecuritiesDetails">
        <link:definition>99940901 - Disclosure - INVESTMENT SECURITIES - Balances of investment securities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentSecuritiesInvestmentsInDebtSecuritiesMandatorilyAtFvtplDetails" id="DisclosureInvestmentSecuritiesInvestmentsInDebtSecuritiesMandatorilyAtFvtplDetails">
        <link:definition>99940902 - Disclosure - INVESTMENT SECURITIES - Investments in debt securities mandatorily at FVTPL (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentSecuritiesInvestmentsInDebtSecuritiesAtFairValueThroughOciDetails" id="DisclosureInvestmentSecuritiesInvestmentsInDebtSecuritiesAtFairValueThroughOciDetails">
        <link:definition>99940903 - Disclosure - INVESTMENT SECURITIES - Investments in debt securities at fair value through OCI (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentSecuritiesInvestmentsInDebtSecuritiesAtAmortizedCostDetails" id="DisclosureInvestmentSecuritiesInvestmentsInDebtSecuritiesAtAmortizedCostDetails">
        <link:definition>99940905 - Disclosure - INVESTMENT SECURITIES - Investments in debt securities at amortized cost (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentSecuritiesInvestmentInDebtAtAmortizedCostPledgedAsCollateralDetails" id="DisclosureInvestmentSecuritiesInvestmentInDebtAtAmortizedCostPledgedAsCollateralDetails">
        <link:definition>99940906 - Disclosure - INVESTMENT SECURITIES - Investment in debt at amortized cost pledged as collateral (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentSecuritiesInvestmentsInEquitySecuritiesAtFairValueThroughOciDetails" id="DisclosureInvestmentSecuritiesInvestmentsInEquitySecuritiesAtFairValueThroughOciDetails">
        <link:definition>99940907 - Disclosure - INVESTMENT SECURITIES - Investments in equity securities at fair value through OCI (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentSecuritiesEquityInstrumentsThroughOciTabularDisclosureDetails" id="DisclosureInvestmentSecuritiesEquityInstrumentsThroughOciTabularDisclosureDetails">
        <link:definition>99940908 - Disclosure - INVESTMENT SECURITIES - Equity instruments through OCI - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureHedgeAccountingAccumulatedOciDetails" id="DisclosureHedgeAccountingAccumulatedOciDetails">
        <link:definition>99941004 - Disclosure - HEDGE ACCOUNTING - Accumulated OCI (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureHedgeAccountingCashFlowHedgesDetails" id="DisclosureHedgeAccountingCashFlowHedgesDetails">
        <link:definition>99941005 - Disclosure - HEDGE ACCOUNTING - Cash flow hedges (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureHedgeAccountingInterestRateSwapsAndCrossCurrencySwapsDetails" id="DisclosureHedgeAccountingInterestRateSwapsAndCrossCurrencySwapsDetails">
        <link:definition>99941006 - Disclosure - HEDGE ACCOUNTING - Interest rate swaps and cross currency swaps (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureHedgeAccountingHedgingOfInterestRateRiskDetails" id="DisclosureHedgeAccountingHedgingOfInterestRateRiskDetails">
        <link:definition>99941007 - Disclosure - HEDGE ACCOUNTING - Hedging of interest rate risk (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureHedgeAccountingFairValueHedgesDetails" id="DisclosureHedgeAccountingFairValueHedgesDetails">
        <link:definition>99941008 - Disclosure - HEDGE ACCOUNTING - Fair value hedges (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureHedgeAccountingFairValueAndInterestExpenseDetails" id="DisclosureHedgeAccountingFairValueAndInterestExpenseDetails">
        <link:definition>99941009 - Disclosure - HEDGE ACCOUNTING - Fair value and interest expense (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureHedgeAccountingFinancialInstrumentsForHedgingAssetsAndLiabilitiesDetails" id="DisclosureHedgeAccountingFinancialInstrumentsForHedgingAssetsAndLiabilitiesDetails">
        <link:definition>99941010 - Disclosure - HEDGE ACCOUNTING - Financial instruments for hedging - assets and liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureHedgeAccountingTextualDetails" id="DisclosureHedgeAccountingTextualDetails">
        <link:definition>99941011 - Disclosure - HEDGE ACCOUNTING - Textual (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureLoansCreditPortfolioDetails" id="DisclosureLoansCreditPortfolioDetails">
        <link:definition>99941101 - Disclosure - LOANS - Credit portfolio (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureLoansLoanPortfolioByMaturityDetails" id="DisclosureLoansLoanPortfolioByMaturityDetails">
        <link:definition>99941102 - Disclosure - LOANS - Loan portfolio by maturity (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureLoansFinancialLeasingPortfolioReconciliationDetails" id="DisclosureLoansFinancialLeasingPortfolioReconciliationDetails">
        <link:definition>99941103 - Disclosure - LOANS - Financial leasing portfolio - Reconciliation (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureLoansFinancialLeasingPortfolioContractsReceivableDetails" id="DisclosureLoansFinancialLeasingPortfolioContractsReceivableDetails">
        <link:definition>99941104 - Disclosure - LOANS - Financial leasing portfolio - Contracts receivable (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureLoansFinancialLeasingPortfolioTermsDetails" id="DisclosureLoansFinancialLeasingPortfolioTermsDetails">
        <link:definition>99941105 - Disclosure - LOANS - Financial leasing portfolio - Terms (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherAccountsReceivableNetNetOfImpairmentLossesDetails" id="DisclosureOtherAccountsReceivableNetNetOfImpairmentLossesDetails">
        <link:definition>99941201 - Disclosure - OTHER ACCOUNTS RECEIVABLE, NET - Net of impairment losses (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherAccountsReceivableNetContractAssetsTabularDisclosureDetails" id="DisclosureOtherAccountsReceivableNetContractAssetsTabularDisclosureDetails">
        <link:definition>99941202 - Disclosure - OTHER ACCOUNTS RECEIVABLE, NET - Contract assets - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherAccountsReceivableNetContractAssetsAdditionalInformationDetails" id="DisclosureOtherAccountsReceivableNetContractAssetsAdditionalInformationDetails">
        <link:definition>99941203 - Disclosure - OTHER ACCOUNTS RECEIVABLE, NET - Contract assets - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonCurrentAssetsHeldForSaleRollForwardTabularDisclosureDetails" id="DisclosureNonCurrentAssetsHeldForSaleRollForwardTabularDisclosureDetails">
        <link:definition>99941301 - Disclosure - NON-CURRENT ASSETS HELD FOR SALE - Roll forward - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonCurrentAssetsHeldForSaleRollForwardAdditionalInformationDetails" id="DisclosureNonCurrentAssetsHeldForSaleRollForwardAdditionalInformationDetails">
        <link:definition>99941302 - Disclosure - NON-CURRENT ASSETS HELD FOR SALE - Roll forward - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonCurrentAssetsHeldForSaleAssetsAndLiabilitiesClassifiedAsHeldForSaleGeneralInformationDetails" id="DisclosureNonCurrentAssetsHeldForSaleAssetsAndLiabilitiesClassifiedAsHeldForSaleGeneralInformationDetails">
        <link:definition>99941305 - Disclosure - NON-CURRENT ASSETS HELD FOR SALE - Assets and liabilities classified as held for sale - General information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonCurrentAssetsHeldForSaleDiscontinuedOperationOtherComprehensiveIncomeDetails" id="DisclosureNonCurrentAssetsHeldForSaleDiscontinuedOperationOtherComprehensiveIncomeDetails">
        <link:definition>99941309 - Disclosure - NON-CURRENT ASSETS HELD FOR SALE - Discontinued operation - Other comprehensive income (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonCurrentAssetsHeldForSaleDiscontinuedOperationStatementOfCashFlowsDetails" id="DisclosureNonCurrentAssetsHeldForSaleDiscontinuedOperationStatementOfCashFlowsDetails">
        <link:definition>99941311 - Disclosure - NON-CURRENT ASSETS HELD FOR SALE - Discontinued operation - Statement of cash flows (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentsInAssociatesAndJointVenturesVotingRightPercentageDetails" id="DisclosureInvestmentsInAssociatesAndJointVenturesVotingRightPercentageDetails">
        <link:definition>99941402 - Disclosure - INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Voting right percentage (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentsInAssociatesAndJointVenturesOwnershipInterestAndBookValueDetails" id="DisclosureInvestmentsInAssociatesAndJointVenturesOwnershipInterestAndBookValueDetails">
        <link:definition>99941403 - Disclosure - INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Ownership interest and book value (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentsInAssociatesAndJointVenturesRollForwardOfInvestmentInAssociatesDetails" id="DisclosureInvestmentsInAssociatesAndJointVenturesRollForwardOfInvestmentInAssociatesDetails">
        <link:definition>99941404 - Disclosure - INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Roll forward of investment in associates (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentsInAssociatesAndJointVenturesRollForwardOfInvestmentInJointVenturesDetails" id="DisclosureInvestmentsInAssociatesAndJointVenturesRollForwardOfInvestmentInJointVenturesDetails">
        <link:definition>99941405 - Disclosure - INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Roll forward of investment in joint ventures (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentsInAssociatesAndJointVenturesFinancialInformationOfAssociatesDetails" id="DisclosureInvestmentsInAssociatesAndJointVenturesFinancialInformationOfAssociatesDetails">
        <link:definition>99941406 - Disclosure - INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Financial information of associates (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentsInAssociatesAndJointVenturesFinancialInformationOfJointVenturesDetails" id="DisclosureInvestmentsInAssociatesAndJointVenturesFinancialInformationOfJointVenturesDetails">
        <link:definition>99941407 - Disclosure - INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Financial information of joint ventures (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTangibleAssetsCarryingValueDetails" id="DisclosureTangibleAssetsCarryingValueDetails">
        <link:definition>99941501 - Disclosure - TANGIBLE ASSETS - Carrying Value (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTangibleAssetsTangibleAssetsForOwnUseDetails" id="DisclosureTangibleAssetsTangibleAssetsForOwnUseDetails">
        <link:definition>99941502 - Disclosure - TANGIBLE ASSETS - Tangible assets for own use (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTangibleAssetsRightOfUseAssetsDetails" id="DisclosureTangibleAssetsRightOfUseAssetsDetails">
        <link:definition>99941503 - Disclosure - TANGIBLE ASSETS - Right-of-use assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTangibleAssetsOperatingLeaseDetails" id="DisclosureTangibleAssetsOperatingLeaseDetails">
        <link:definition>99941506 - Disclosure - TANGIBLE ASSETS - Operating Lease (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTangibleAssetsTextualDetails" id="DisclosureTangibleAssetsTextualDetails">
        <link:definition>99941508 - Disclosure - TANGIBLE ASSETS - Textual (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureConcessionArrangementsRightsAssetsInConcessionArrangementsDetails" id="DisclosureConcessionArrangementsRightsAssetsInConcessionArrangementsDetails">
        <link:definition>99941601 - Disclosure - CONCESSION ARRANGEMENTS RIGHTS - Assets in concession arrangements (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureConcessionArrangementsRightsFinancialAssetsInConcessionArrangementsTabularDisclosureDetails" id="DisclosureConcessionArrangementsRightsFinancialAssetsInConcessionArrangementsTabularDisclosureDetails">
        <link:definition>99941602 - Disclosure - CONCESSION ARRANGEMENTS RIGHTS - Financial assets in concession arrangements - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureConcessionArrangementsRightsFinancialAssetsInConcessionArrangementsAdditionalInformationDetails" id="DisclosureConcessionArrangementsRightsFinancialAssetsInConcessionArrangementsAdditionalInformationDetails">
        <link:definition>99941603 - Disclosure - CONCESSION ARRANGEMENTS RIGHTS - Financial assets in concession arrangements - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureConcessionArrangementsRightsIntangibleAssetsInConcessionArrangementsTabularDisclosureDetails" id="DisclosureConcessionArrangementsRightsIntangibleAssetsInConcessionArrangementsTabularDisclosureDetails">
        <link:definition>99941604 - Disclosure - CONCESSION ARRANGEMENTS RIGHTS - Intangible assets in concession arrangements - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureConcessionArrangementsRightsIntangibleAssetsInConcessionArrangementsAdditionalInformationDetails" id="DisclosureConcessionArrangementsRightsIntangibleAssetsInConcessionArrangementsAdditionalInformationDetails">
        <link:definition>99941605 - Disclosure - CONCESSION ARRANGEMENTS RIGHTS - Intangible assets in concession arrangements - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureConcessionArrangementsRightsSummaryOfMainConcessionContractsDetails" id="DisclosureConcessionArrangementsRightsSummaryOfMainConcessionContractsDetails">
        <link:definition>99941606 - Disclosure - CONCESSION ARRANGEMENTS RIGHTS - Summary of the main concession contracts (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureGoodwillCarryingAmountDetails" id="DisclosureGoodwillCarryingAmountDetails">
        <link:definition>99941702 - Disclosure - GOODWILL - Carrying amount (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureGoodwillRollForwardAdditionalInformationDetails" id="DisclosureGoodwillRollForwardAdditionalInformationDetails">
        <link:definition>99941703 - Disclosure - GOODWILL - Roll forward - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureGoodwillCashGeneratingUnitsGeneralInformationDetails" id="DisclosureGoodwillCashGeneratingUnitsGeneralInformationDetails">
        <link:definition>99941704 - Disclosure - GOODWILL - Cash-generating units - General information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureGoodwillCashGeneratingUnitsImpairmentTestAssumptionsDetails" id="DisclosureGoodwillCashGeneratingUnitsImpairmentTestAssumptionsDetails">
        <link:definition>99941705 - Disclosure - GOODWILL - Cash-generating units - Impairment test assumptions (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureGoodwillCashGeneratingUnitsAcquisitionsDetails" id="DisclosureGoodwillCashGeneratingUnitsAcquisitionsDetails">
        <link:definition>99941706 - Disclosure - GOODWILL - Cash-generating units - Acquisitions (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherIntangibleAssetsDetails" id="DisclosureOtherIntangibleAssetsDetails">
        <link:definition>99941801 - Disclosure - OTHER INTANGIBLE ASSETS (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxReconciliationBetweenTotalExpensesOfIncomeTaxAndTaxExpenseGeneralInformationDetails" id="DisclosureIncomeTaxReconciliationBetweenTotalExpensesOfIncomeTaxAndTaxExpenseGeneralInformationDetails">
        <link:definition>99941902 - Disclosure - INCOME TAX - Reconciliation between total expenses of income tax and tax expense - General information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxDeferredTaxesByTypeOfTemporaryDifferenceTabularDisclosureDetails" id="DisclosureIncomeTaxDeferredTaxesByTypeOfTemporaryDifferenceTabularDisclosureDetails">
        <link:definition>99941906 - Disclosure - INCOME TAX - Deferred taxes by type of temporary difference - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxDeferredTaxesByTypeOfTemporaryDifferenceAdditionalInformationDetails" id="DisclosureIncomeTaxDeferredTaxesByTypeOfTemporaryDifferenceAdditionalInformationDetails">
        <link:definition>99941907 - Disclosure - INCOME TAX - Deferred taxes by type of temporary difference - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxDeferredTaxAssetsAndLiabilitiesGrossDeferredTaxAndOffsetDetails" id="DisclosureIncomeTaxDeferredTaxAssetsAndLiabilitiesGrossDeferredTaxAndOffsetDetails">
        <link:definition>99941908 - Disclosure - INCOME TAX - Deferred tax assets and liabilities - Gross deferred tax and offset (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxEstimatesToRecoverIncomeTaxAssetsAndSettleIncomeTaxLiabilitiesDeferredTaxDetails" id="DisclosureIncomeTaxEstimatesToRecoverIncomeTaxAssetsAndSettleIncomeTaxLiabilitiesDeferredTaxDetails">
        <link:definition>99941910 - Disclosure - INCOME TAX - Estimates to recover income tax assets and settle income tax liabilities - Deferred tax (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxEstimatesToRecoverIncomeTaxAssetsAndSettleIncomeTaxLiabilitiesCurrentTaxDetails" id="DisclosureIncomeTaxEstimatesToRecoverIncomeTaxAssetsAndSettleIncomeTaxLiabilitiesCurrentTaxDetails">
        <link:definition>99941911 - Disclosure - INCOME TAX - Estimates to recover income tax assets and settle income tax liabilities - Current tax (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxEffectOfCurrentAndDeferredTaxesInEachComponentOfOtherComprehensiveIncomeInEquityAdditionalInformationDetails" id="DisclosureIncomeTaxEffectOfCurrentAndDeferredTaxesInEachComponentOfOtherComprehensiveIncomeInEquityAdditionalInformationDetails">
        <link:definition>99941913 - Disclosure - INCOME TAX - Effect of the current and deferred taxes in each component of other comprehensive income in equity - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureCustomerDepositsDepositsAdditionalInformationDetails" id="DisclosureCustomerDepositsDepositsAdditionalInformationDetails">
        <link:definition>99942002 - Disclosure - CUSTOMER DEPOSITS - Deposits - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureCustomerDepositsEffectiveInterestRatesDetails" id="DisclosureCustomerDepositsEffectiveInterestRatesDetails">
        <link:definition>99942003 - Disclosure - CUSTOMER DEPOSITS - Effective interest rates (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureCustomerDepositsConcentrationOfDepositsReceivedDetails" id="DisclosureCustomerDepositsConcentrationOfDepositsReceivedDetails">
        <link:definition>99942004 - Disclosure - CUSTOMER DEPOSITS - Concentration of deposits received (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureFinancialObligationsBorrowingsFromBanksAndOthersTabularDisclosureDetails" id="DisclosureFinancialObligationsBorrowingsFromBanksAndOthersTabularDisclosureDetails">
        <link:definition>99942103 - Disclosure - FINANCIAL OBLIGATIONS - Borrowings from banks and others - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureFinancialObligationsIssuedBondsByIssuedDateAndMaturityDateTabularDisclosureDetails" id="DisclosureFinancialObligationsIssuedBondsByIssuedDateAndMaturityDateTabularDisclosureDetails">
        <link:definition>99942105 - Disclosure - FINANCIAL OBLIGATIONS - Issued bonds by issued date and maturity date - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureFinancialObligationsIssuedBondsByIssuedDateAndMaturityDateAdditionalInformationDetails" id="DisclosureFinancialObligationsIssuedBondsByIssuedDateAndMaturityDateAdditionalInformationDetails">
        <link:definition>99942106 - Disclosure - FINANCIAL OBLIGATIONS - Issued bonds by issued date and maturity date - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureFinancialObligationsReconciliationOfMovementsOfLiabilitiesToCashFlowsArisingFromFinancingActivitiesDetails" id="DisclosureFinancialObligationsReconciliationOfMovementsOfLiabilitiesToCashFlowsArisingFromFinancingActivitiesDetails">
        <link:definition>99942108 - Disclosure - FINANCIAL OBLIGATIONS - Reconciliation of movements of liabilities to cash flows arising from financing activities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureProvisionsRollForwardTabularDisclosureDetails" id="DisclosureProvisionsRollForwardTabularDisclosureDetails">
        <link:definition>99942201 - Disclosure - PROVISIONS - Roll forward - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureProvisionsRollForwardAdditionalInformationDetails" id="DisclosureProvisionsRollForwardAdditionalInformationDetails">
        <link:definition>99942202 - Disclosure - PROVISIONS - Roll forward - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureProvisionsEstimatedPeriodToBeCanceledDetails" id="DisclosureProvisionsEstimatedPeriodToBeCanceledDetails">
        <link:definition>99942203 - Disclosure - PROVISIONS - Estimated period to be canceled (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureProvisionsGeneralInformationDetails" id="DisclosureProvisionsGeneralInformationDetails">
        <link:definition>99942204 - Disclosure - PROVISIONS - General information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEmployeeBenefitsAssumptionsDetails" id="DisclosureEmployeeBenefitsAssumptionsDetails">
        <link:definition>99942304 - Disclosure - EMPLOYEE BENEFITS - Assumptions (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEmployeeBenefitsSensitivityAnalysisDetails" id="DisclosureEmployeeBenefitsSensitivityAnalysisDetails">
        <link:definition>99942305 - Disclosure - EMPLOYEE BENEFITS - Sensitivity analysis (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEmployeeBenefitsFutureBenefitPaymentsDetails" id="DisclosureEmployeeBenefitsFutureBenefitPaymentsDetails">
        <link:definition>99942306 - Disclosure - EMPLOYEE BENEFITS - Future benefit payments (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEmployeeBenefitsTextualDetails" id="DisclosureEmployeeBenefitsTextualDetails">
        <link:definition>99942307 - Disclosure - EMPLOYEE BENEFITS - Textual (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentTotalOutstandingSharesDetails" id="DisclosureEquityAttributableToOwnersOfParentTotalOutstandingSharesDetails">
        <link:definition>99942502 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Total outstanding shares (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentOutstandingSharesDetails" id="DisclosureEquityAttributableToOwnersOfParentOutstandingSharesDetails">
        <link:definition>99942503 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Outstanding shares (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentDeclaredDividendsDetails" id="DisclosureEquityAttributableToOwnersOfParentDeclaredDividendsDetails">
        <link:definition>99942506 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Declared dividends (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentEarningsPerShareAdditionalInformationDetails" id="DisclosureEquityAttributableToOwnersOfParentEarningsPerShareAdditionalInformationDetails">
        <link:definition>99942510 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Earnings per share - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentEquityTransactionsMinorityShareholdersDetails" id="DisclosureEquityAttributableToOwnersOfParentEquityTransactionsMinorityShareholdersDetails">
        <link:definition>99942511 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Equity transactions - Minority shareholders (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentEffectsInRetainedEarningsDetails" id="DisclosureEquityAttributableToOwnersOfParentEffectsInRetainedEarningsDetails">
        <link:definition>99942512 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Effects in retained earnings (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentConsolidatedOtherComprehensiveIncomeNonControllingInterestDetails" id="DisclosureEquityAttributableToOwnersOfParentConsolidatedOtherComprehensiveIncomeNonControllingInterestDetails">
        <link:definition>99942514 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Consolidated other comprehensive income - Non-controlling interest (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonControllingInterestFinancialInformationDetails" id="DisclosureNonControllingInterestFinancialInformationDetails">
        <link:definition>99942601 - Disclosure - NON-CONTROLLING INTEREST - Financial information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonControllingInterestNonControllingInterestsDetails" id="DisclosureNonControllingInterestNonControllingInterestsDetails">
        <link:definition>99942602 - Disclosure - NON-CONTROLLING INTEREST - Non-controlling interests (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureCommitmentsAndContingenciesContingenciesDetails" id="DisclosureCommitmentsAndContingenciesContingenciesDetails">
        <link:definition>99942702 - Disclosure - COMMITMENTS AND CONTINGENCIES - Contingencies (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNetTradingIncomeLossDetails" id="DisclosureNetTradingIncomeLossDetails">
        <link:definition>99942901 - Disclosure - NET TRADING INCOME (LOSS) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAnalysisOfOperatingSegmentsStatementOfFinancialPositionTabularDisclosureDetails" id="DisclosureAnalysisOfOperatingSegmentsStatementOfFinancialPositionTabularDisclosureDetails">
        <link:definition>99943102 - Disclosure - ANALYSIS OF OPERATING SEGMENTS - Statement of financial position - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAnalysisOfOperatingSegmentsStatementOfFinancialPositionAdditionalInformationDetails" id="DisclosureAnalysisOfOperatingSegmentsStatementOfFinancialPositionAdditionalInformationDetails">
        <link:definition>99943103 - Disclosure - ANALYSIS OF OPERATING SEGMENTS - Statement of financial position - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAnalysisOfOperatingSegmentsRevenueFromContractsWithCustomersDetails" id="DisclosureAnalysisOfOperatingSegmentsRevenueFromContractsWithCustomersDetails">
        <link:definition>99943105 - Disclosure - ANALYSIS OF OPERATING SEGMENTS - Revenue from contracts with customers (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAnalysisOfOperatingSegmentsIncomeByCountryDetails" id="DisclosureAnalysisOfOperatingSegmentsIncomeByCountryDetails">
        <link:definition>99943106 - Disclosure - ANALYSIS OF OPERATING SEGMENTS - Income by country (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAnalysisOfOperatingSegmentsNonCurrentAssetsByCountryDetails" id="DisclosureAnalysisOfOperatingSegmentsNonCurrentAssetsByCountryDetails">
        <link:definition>99943107 - Disclosure - ANALYSIS OF OPERATING SEGMENTS - Non-current assets by country (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureUnconsolidatedStructuredEntitiesDetails" id="DisclosureUnconsolidatedStructuredEntitiesDetails">
        <link:definition>99943201 - Disclosure - UNCONSOLIDATED STRUCTURED ENTITIES (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTransfersOfFinancialAssetsDetails" id="DisclosureTransfersOfFinancialAssetsDetails">
        <link:definition>99943301 - Disclosure - TRANSFERS OF FINANCIAL ASSETS (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRelatedPartiesGeneralInformationDetails" id="DisclosureRelatedPartiesGeneralInformationDetails">
        <link:definition>99943401 - Disclosure - RELATED PARTIES - General information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRelatedPartiesTransactionsDetails" id="DisclosureRelatedPartiesTransactionsDetails">
        <link:definition>99943402 - Disclosure - RELATED PARTIES - Transactions (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureSignificantEventsDetails" id="DisclosureSignificantEventsDetails">
        <link:definition>99943501 - Disclosure - SIGNIFICANT EVENTS (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureSubsequentEventsAcquisitionGeneralInformationDetails" id="DisclosureSubsequentEventsAcquisitionGeneralInformationDetails">
        <link:definition>99943601 - Disclosure - SUBSEQUENT EVENTS - Acquisition - General information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureSubsequentEventsAcquisitionAdditionalInformationDetails" id="DisclosureSubsequentEventsAcquisitionAdditionalInformationDetails">
        <link:definition>99943603 - Disclosure - SUBSEQUENT EVENTS - Acquisition - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureSubsequentEventsPartialSpinOffDetails" id="DisclosureSubsequentEventsPartialSpinOffDetails">
        <link:definition>99943604 - Disclosure - SUBSEQUENT EVENTS - Partial spin-off (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureSubsequentEventsWealthTaxDetails" id="DisclosureSubsequentEventsWealthTaxDetails">
        <link:definition>99943605 - Disclosure - SUBSEQUENT EVENTS - Wealth tax (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureSubsequentEventsDiscontinuedOperationDetails" id="DisclosureSubsequentEventsDiscontinuedOperationDetails">
        <link:definition>99943606 - Disclosure - SUBSEQUENT EVENTS - Discontinued operation (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureReportingEntity" id="DisclosureReportingEntity">
        <link:definition>995210101 - Disclosure - REPORTING ENTITY</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureBasisOfPreparationOfConsolidatedFinancialStatementsAndSummaryOfMaterialAccountingPolicies" id="DisclosureBasisOfPreparationOfConsolidatedFinancialStatementsAndSummaryOfMaterialAccountingPolicies">
        <link:definition>995210201 - Disclosure - BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF MATERIAL ACCOUNTING POLICIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureJudgmentsAndCriticalAccountingEstimatesInApplyingAccountingPolicies" id="DisclosureJudgmentsAndCriticalAccountingEstimatesInApplyingAccountingPolicies">
        <link:definition>995210301 - Disclosure - JUDGMENTS AND CRITICAL ACCOUNTING ESTIMATES IN APPLYING ACCOUNTING POLICIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagement" id="DisclosureRiskManagement">
        <link:definition>995210401 - Disclosure - RISK MANAGEMENT</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValue" id="DisclosureEstimationOfFairValue">
        <link:definition>995210501 - Disclosure - ESTIMATION OF FAIR VALUE</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAssetsAndFinancialLiabilities" id="DisclosureAssetsAndFinancialLiabilities">
        <link:definition>995210601 - Disclosure - ASSETS AND FINANCIAL LIABILITIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureCashAndCashEquivalents" id="DisclosureCashAndCashEquivalents">
        <link:definition>995210701 - Disclosure - CASH AND CASH EQUIVALENTS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTradingAssetsAndLiabilities" id="DisclosureTradingAssetsAndLiabilities">
        <link:definition>995210801 - Disclosure - TRADING ASSETS AND LIABILITIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentSecurities" id="DisclosureInvestmentSecurities">
        <link:definition>995210901 - Disclosure - INVESTMENT SECURITIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureHedgeAccounting" id="DisclosureHedgeAccounting">
        <link:definition>995211001 - Disclosure - HEDGE ACCOUNTING</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureLoans" id="DisclosureLoans">
        <link:definition>995211101 - Disclosure - LOANS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherAccountsReceivableNet" id="DisclosureOtherAccountsReceivableNet">
        <link:definition>995211201 - Disclosure - OTHER ACCOUNTS RECEIVABLE, NET</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonCurrentAssetsHeldForSale" id="DisclosureNonCurrentAssetsHeldForSale">
        <link:definition>995211301 - Disclosure - NON-CURRENT ASSETS HELD FOR SALE</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentsInAssociatesAndJointVentures" id="DisclosureInvestmentsInAssociatesAndJointVentures">
        <link:definition>995211401 - Disclosure - INVESTMENTS IN ASSOCIATES AND JOINT VENTURES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTangibleAssets" id="DisclosureTangibleAssets">
        <link:definition>995211501 - Disclosure - TANGIBLE ASSETS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureConcessionArrangementsRights" id="DisclosureConcessionArrangementsRights">
        <link:definition>995211601 - Disclosure - CONCESSION ARRANGEMENTS RIGHTS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureGoodwill" id="DisclosureGoodwill">
        <link:definition>995211701 - Disclosure - GOODWILL</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherIntangibleAssets" id="DisclosureOtherIntangibleAssets">
        <link:definition>995211801 - Disclosure - OTHER INTANGIBLE ASSETS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTax" id="DisclosureIncomeTax">
        <link:definition>995211901 - Disclosure - INCOME TAX</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureCustomerDeposits" id="DisclosureCustomerDeposits">
        <link:definition>995212001 - Disclosure - CUSTOMER DEPOSITS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureFinancialObligations" id="DisclosureFinancialObligations">
        <link:definition>995212101 - Disclosure - FINANCIAL OBLIGATIONS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureProvisions" id="DisclosureProvisions">
        <link:definition>995212201 - Disclosure - PROVISIONS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEmployeeBenefits" id="DisclosureEmployeeBenefits">
        <link:definition>995212301 - Disclosure - EMPLOYEE BENEFITS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherLiabilities" id="DisclosureOtherLiabilities">
        <link:definition>995212401 - Disclosure - OTHER LIABILITIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParent" id="DisclosureEquityAttributableToOwnersOfParent">
        <link:definition>995212501 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonControllingInterest" id="DisclosureNonControllingInterest">
        <link:definition>995212601 - Disclosure - NON-CONTROLLING INTEREST</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureCommitmentsAndContingencies" id="DisclosureCommitmentsAndContingencies">
        <link:definition>995212701 - Disclosure - COMMITMENTS AND CONTINGENCIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNetIncomeFromContractsWithCustomers" id="DisclosureNetIncomeFromContractsWithCustomers">
        <link:definition>995212801 - Disclosure - NET INCOME FROM CONTRACTS WITH CUSTOMERS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNetTradingIncomeLoss" id="DisclosureNetTradingIncomeLoss">
        <link:definition>995212901 - Disclosure - NET TRADING INCOME (LOSS)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherIncomeAndExpense" id="DisclosureOtherIncomeAndExpense">
        <link:definition>995213001 - Disclosure - OTHER INCOME AND EXPENSE</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAnalysisOfOperatingSegments" id="DisclosureAnalysisOfOperatingSegments">
        <link:definition>995213101 - Disclosure - ANALYSIS OF OPERATING SEGMENTS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureUnconsolidatedStructuredEntities" id="DisclosureUnconsolidatedStructuredEntities">
        <link:definition>995213201 - Disclosure - UNCONSOLIDATED STRUCTURED ENTITIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTransfersOfFinancialAssets" id="DisclosureTransfersOfFinancialAssets">
        <link:definition>995213301 - Disclosure - TRANSFERS OF FINANCIAL ASSETS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRelatedParties" id="DisclosureRelatedParties">
        <link:definition>995213401 - Disclosure - RELATED PARTIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureSignificantEvents" id="DisclosureSignificantEvents">
        <link:definition>995213501 - Disclosure - SIGNIFICANT EVENTS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureSubsequentEvents" id="DisclosureSubsequentEvents">
        <link:definition>995213601 - Disclosure - SUBSEQUENT EVENTS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureBasisOfPreparationOfConsolidatedFinancialStatementsAndSummaryOfMaterialAccountingPoliciesPolicies" id="DisclosureBasisOfPreparationOfConsolidatedFinancialStatementsAndSummaryOfMaterialAccountingPoliciesPolicies">
        <link:definition>99920202 - Disclosure - BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF MATERIAL ACCOUNTING POLICIES (Policies)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureBasisOfPreparationOfConsolidatedFinancialStatementsAndSummaryOfMaterialAccountingPoliciesTables" id="DisclosureBasisOfPreparationOfConsolidatedFinancialStatementsAndSummaryOfMaterialAccountingPoliciesTables">
        <link:definition>99930203 - Disclosure - BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF MATERIAL ACCOUNTING POLICIES (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAssetsAndFinancialLiabilitiesTables" id="DisclosureAssetsAndFinancialLiabilitiesTables">
        <link:definition>99930603 - Disclosure - ASSETS AND FINANCIAL LIABILITIES (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureCashAndCashEquivalentsTables" id="DisclosureCashAndCashEquivalentsTables">
        <link:definition>99930703 - Disclosure - CASH AND CASH EQUIVALENTS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTradingAssetsAndLiabilitiesTables" id="DisclosureTradingAssetsAndLiabilitiesTables">
        <link:definition>99930803 - Disclosure - TRADING ASSETS AND LIABILITIES (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentSecuritiesTables" id="DisclosureInvestmentSecuritiesTables">
        <link:definition>99930903 - Disclosure - INVESTMENT SECURITIES (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureLoansTables" id="DisclosureLoansTables">
        <link:definition>99931103 - Disclosure - LOANS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonCurrentAssetsHeldForSaleTables" id="DisclosureNonCurrentAssetsHeldForSaleTables">
        <link:definition>99931303 - Disclosure - NON-CURRENT ASSETS HELD FOR SALE (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureConcessionArrangementsRightsTables" id="DisclosureConcessionArrangementsRightsTables">
        <link:definition>99931603 - Disclosure - CONCESSION ARRANGEMENTS RIGHTS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherIntangibleAssetsTables" id="DisclosureOtherIntangibleAssetsTables">
        <link:definition>99931803 - Disclosure - OTHER INTANGIBLE ASSETS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureCustomerDepositsTables" id="DisclosureCustomerDepositsTables">
        <link:definition>99932003 - Disclosure - CUSTOMER DEPOSITS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureFinancialObligationsTables" id="DisclosureFinancialObligationsTables">
        <link:definition>99932103 - Disclosure - FINANCIAL OBLIGATIONS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureProvisionsTables" id="DisclosureProvisionsTables">
        <link:definition>99932203 - Disclosure - PROVISIONS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEmployeeBenefitsTables" id="DisclosureEmployeeBenefitsTables">
        <link:definition>99932303 - Disclosure - EMPLOYEE BENEFITS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherLiabilitiesTables" id="DisclosureOtherLiabilitiesTables">
        <link:definition>99932403 - Disclosure - OTHER LIABILITIES (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentTables" id="DisclosureEquityAttributableToOwnersOfParentTables">
        <link:definition>99932503 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNonControllingInterestTables" id="DisclosureNonControllingInterestTables">
        <link:definition>99932603 - Disclosure - NON-CONTROLLING INTEREST (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNetIncomeFromContractsWithCustomersTables" id="DisclosureNetIncomeFromContractsWithCustomersTables">
        <link:definition>99932803 - Disclosure - NET INCOME FROM CONTRACTS WITH CUSTOMERS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureNetTradingIncomeLossTables" id="DisclosureNetTradingIncomeLossTables">
        <link:definition>99932903 - Disclosure - NET TRADING INCOME (LOSS) (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherIncomeAndExpenseTables" id="DisclosureOtherIncomeAndExpenseTables">
        <link:definition>99933003 - Disclosure - OTHER INCOME AND EXPENSE (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAnalysisOfOperatingSegmentsTables" id="DisclosureAnalysisOfOperatingSegmentsTables">
        <link:definition>99933103 - Disclosure - ANALYSIS OF OPERATING SEGMENTS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureUnconsolidatedStructuredEntitiesTables" id="DisclosureUnconsolidatedStructuredEntitiesTables">
        <link:definition>99933203 - Disclosure - UNCONSOLIDATED STRUCTURED ENTITIES (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRelatedPartiesTables" id="DisclosureRelatedPartiesTables">
        <link:definition>99933403 - Disclosure - RELATED PARTIES (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureSubsequentEventsTables" id="DisclosureSubsequentEventsTables">
        <link:definition>99933603 - Disclosure - SUBSEQUENT EVENTS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementLoanPortfolioGivenAsCollateralDetails" id="DisclosureRiskManagementLoanPortfolioGivenAsCollateralDetails">
        <link:definition>99940403 - Disclosure - RISK MANAGEMENT - Loan portfolio given as collateral (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioDerivativeInstrumentsAdditionalInformationDetails" id="DisclosureRiskManagementCreditQualityOfFinancialAssetsExcludingLoanPortfolioDerivativeInstrumentsAdditionalInformationDetails">
        <link:definition>99940419 - Disclosure - RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Derivative instruments - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementInvestmentDebtSecuritiesConcentrationBySovereignRiskAdditionalInformationDetails" id="DisclosureRiskManagementInvestmentDebtSecuritiesConcentrationBySovereignRiskAdditionalInformationDetails">
        <link:definition>99940443 - Disclosure - RISK MANAGEMENT - Investment debt securities - Concentration by sovereign risk - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementModifiedFinancialAssetsForeclosedAssetsDetails" id="DisclosureRiskManagementModifiedFinancialAssetsForeclosedAssetsDetails">
        <link:definition>99940445 - Disclosure - RISK MANAGEMENT - Modified financial assets - Foreclosed assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementStructuralForeignExchangeRiskGeneralInformationDetails" id="DisclosureRiskManagementStructuralForeignExchangeRiskGeneralInformationDetails">
        <link:definition>99940455 - Disclosure - RISK MANAGEMENT - Structural foreign exchange risk - General information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementStructuralForeignExchangeRiskSensitivityAnalysisOfForeignExchangeEffectDetails" id="DisclosureRiskManagementStructuralForeignExchangeRiskSensitivityAnalysisOfForeignExchangeEffectDetails">
        <link:definition>99940459 - Disclosure - RISK MANAGEMENT - Structural foreign exchange risk - Sensitivity analysis of foreign exchange effect (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementStructuralInterestRateRiskAccountingSensitivityExerciseDetails" id="DisclosureRiskManagementStructuralInterestRateRiskAccountingSensitivityExerciseDetails">
        <link:definition>99940465 - Disclosure - RISK MANAGEMENT - Structural interest rate risk - Accounting sensitivity exercise (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureRiskManagementLiquidityRiskReserveRequirementDetails" id="DisclosureRiskManagementLiquidityRiskReserveRequirementDetails">
        <link:definition>99940468 - Disclosure - RISK MANAGEMENT - Liquidity risk - Reserve requirement (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEstimationOfFairValueValuationOfEquityInstrumentsThroughProfitOrLossDetails" id="DisclosureEstimationOfFairValueValuationOfEquityInstrumentsThroughProfitOrLossDetails">
        <link:definition>99940508 - Disclosure - ESTIMATION OF FAIR VALUE - Valuation of equity instruments through profit or loss (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureTradingAssetsAndLiabilitiesTotalTradingAssetsAndLiabilitiesNetDetails" id="DisclosureTradingAssetsAndLiabilitiesTotalTradingAssetsAndLiabilitiesNetDetails">
        <link:definition>99940803 - Disclosure - TRADING ASSETS AND LIABILITIES - Total trading assets and liabilities, net (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureInvestmentSecuritiesEquityInstrumentsThroughOciDividendIncomeDetails" id="DisclosureInvestmentSecuritiesEquityInstrumentsThroughOciDividendIncomeDetails">
        <link:definition>99940909 - Disclosure - INVESTMENT SECURITIES - Equity instruments through OCI - Dividend income (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureHedgeAccountingChangesInFluctuationDetails" id="DisclosureHedgeAccountingChangesInFluctuationDetails">
        <link:definition>99941001 - Disclosure - HEDGE ACCOUNTING - Changes in the fluctuation (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureGoodwillRollForwardTabularDisclosureDetails" id="DisclosureGoodwillRollForwardTabularDisclosureDetails">
        <link:definition>99941701 - Disclosure - GOODWILL - Roll forward - Tabular disclosure (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxDeferredTaxesFromInvestmentsInSubsidiariesDetails" id="DisclosureIncomeTaxDeferredTaxesFromInvestmentsInSubsidiariesDetails">
        <link:definition>99941905 - Disclosure - INCOME TAX - Deferred taxes from investments in subsidiaries (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxWithholdingsTaxOnDividendsPaidBetweenEntitiesDetails" id="DisclosureIncomeTaxWithholdingsTaxOnDividendsPaidBetweenEntitiesDetails">
        <link:definition>99941914 - Disclosure - INCOME TAX - Withholdings tax on dividends paid between entities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureIncomeTaxMinimumTaxRateDetails" id="DisclosureIncomeTaxMinimumTaxRateDetails">
        <link:definition>99941915 - Disclosure - INCOME TAX - Minimum tax rate (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureFinancialObligationsInterbankBorrowingsOvernightFundsAdditionalInformationDetails" id="DisclosureFinancialObligationsInterbankBorrowingsOvernightFundsAdditionalInformationDetails">
        <link:definition>99942102 - Disclosure - FINANCIAL OBLIGATIONS - Interbank borrowings, overnight funds - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureFinancialObligationsBorrowingsFromBanksAndOthersAdditionalInformationDetails" id="DisclosureFinancialObligationsBorrowingsFromBanksAndOthersAdditionalInformationDetails">
        <link:definition>99942104 - Disclosure - FINANCIAL OBLIGATIONS - Borrowings from banks and others - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureFinancialObligationsIssuedBondsDueOverTwelveMonthsDetails" id="DisclosureFinancialObligationsIssuedBondsDueOverTwelveMonthsDetails">
        <link:definition>99942107 - Disclosure - FINANCIAL OBLIGATIONS - Issued bonds due over twelve months (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureEquityAttributableToOwnersOfParentLegalReserveDetails" id="DisclosureEquityAttributableToOwnersOfParentLegalReserveDetails">
        <link:definition>99942505 - Disclosure - EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Legal reserve (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureCommitmentsAndContingenciesCapitalExpensesCommitmentsDetails" id="DisclosureCommitmentsAndContingenciesCapitalExpensesCommitmentsDetails">
        <link:definition>99942701 - Disclosure - COMMITMENTS AND CONTINGENCIES - Capital expenses commitments (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureOtherIncomeAndExpenseOtherIncomeAdditionalInformationDetails" id="DisclosureOtherIncomeAndExpenseOtherIncomeAdditionalInformationDetails">
        <link:definition>99943002 - Disclosure - OTHER INCOME AND EXPENSE - Other income - Additional information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.grupoaval.com/role/DisclosureAnalysisOfOperatingSegmentsGeneralInformationDetails" id="DisclosureAnalysisOfOperatingSegmentsGeneralInformationDetails">
        <link:definition>99943101 - Disclosure - ANALYSIS OF OPERATING SEGMENTS - General information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:linkbaseRef xlink:type="simple" xlink:href="aval-20251231_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="aval-20251231_cal.xml" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="aval-20251231_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="aval-20251231_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
    </xsd:appinfo>
  </xsd:annotation>
  <xsd:import namespace="https://xbrl.org/2023/calculation-1.1" schemaLocation="https://www.xbrl.org/2023/calculation-1.1.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/ecd/2025" schemaLocation="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd" />
  <xsd:import namespace="http://fasb.org/us-roles/2025" schemaLocation="https://xbrl.fasb.org/us-gaap/2025/elts/us-roles-2025.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/dei/2025" schemaLocation="https://xbrl.sec.gov/dei/2025/dei-2025.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
  <xsd:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2009/role/net" schemaLocation="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd" />
  <xsd:import namespace="http://www.xbrl.org/dtr/type/2024-01-31" schemaLocation="https://www.xbrl.org/dtr/type/2024-01-31/types.xsd" />
  <xsd:import namespace="http://fasb.org/srt-types/2025" schemaLocation="https://xbrl.fasb.org/srt/2025/elts/srt-types-2025.xsd" />
  <xsd:import namespace="http://fasb.org/srt/2025" schemaLocation="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/country/2025" schemaLocation="https://xbrl.sec.gov/country/2025/country-2025.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/currency/2025" schemaLocation="https://xbrl.sec.gov/currency/2025/currency-2025.xsd" />
  <xsd:import namespace="https://xbrl.ifrs.org/taxonomy/2025-03-27/ifrs-full" schemaLocation="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/ecd-sub/2025" schemaLocation="https://xbrl.sec.gov/ecd/2025/ecd-sub-2025.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/cyd/2025" schemaLocation="https://xbrl.sec.gov/cyd/2025/cyd-2025.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/cyd-af-sub/2025" schemaLocation="https://xbrl.sec.gov/cyd/2025/cyd-af-sub-2025.xsd" />
  <xsd:element name="DividendReceivedInKind" id="aval_DividendReceivedInKind" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="AdditionsThroughDiscontinuedOperationTangibleAssets" id="aval_AdditionsThroughDiscontinuedOperationTangibleAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="HotelesEstelarS.A.YSubsidiariesMember" id="aval_HotelesEstelarS.A.YSubsidiariesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="DisclosureOfNetNonCurrentAssetsAndLiabilitiesOrDisposalGroupsClassifiedAsHeldForSaleTableTextBlock" id="aval_DisclosureOfNetNonCurrentAssetsAndLiabilitiesOrDisposalGroupsClassifiedAsHeldForSaleTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element id="aval_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldEquitySecurities" name="FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldEquitySecurities" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element name="LoansAndReceivablesAbstract" id="aval_LoansAndReceivablesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MicrocreditLoansAndReceivables" id="aval_MicrocreditLoansAndReceivables" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="TangibleAssetsAbstract" id="aval_TangibleAssetsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="IncomeTaxAssetsAbstract" id="aval_IncomeTaxAssetsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IncomeTaxAssetsNet" name="IncomeTaxAssetsNet" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element name="BorrowingsFromBanksAndOthers" id="aval_BorrowingsFromBanksAndOthers" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="aval_IncomeTaxLiabilitiesNet" name="IncomeTaxLiabilitiesNet" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element name="CheckingAccountsMember" id="aval_CheckingAccountsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="TimeDepositsMember" id="aval_TimeDepositsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="InterestExpensesAbstract" id="aval_InterestExpensesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InterestExpenseOnDepositsCheckingAccounts" name="InterestExpenseOnDepositsCheckingAccounts" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_InterestExpenseOnBorrowingFromDevelopmentEntities" name="InterestExpenseOnBorrowingFromDevelopmentEntities" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element name="FinancialObligationsAbstract" id="aval_FinancialObligationsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_ImpairmentLossOnLoanAndOtherAccountsReceivable" name="ImpairmentLossOnLoanAndOtherAccountsReceivable" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element name="ImpairmentLossAbstract" id="aval_ImpairmentLossAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InterestIncomeAfterImpairmentLosses" name="InterestIncomeAfterImpairmentLosses" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element name="AdjustmentsForGainLossOnFairValueAdjustmentFinancialAssetsAtFairValueThroughProfitOrLoss" id="aval_AdjustmentsForGainLossOnFairValueAdjustmentFinancialAssetsAtFairValueThroughProfitOrLoss" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ChangesInOperatingAssetsAndLiabilitiesAbstract" id="aval_ChangesInOperatingAssetsAndLiabilitiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForIncreaseDecreaseInOtherLiabilitiesAndProvisions" id="aval_AdjustmentsForIncreaseDecreaseInOtherLiabilitiesAndProvisions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForIncreaseDecreaseInEmployeeBenefits" id="aval_AdjustmentsForIncreaseDecreaseInEmployeeBenefits" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForIncreaseDecreaseInBorrowingsFromBanksAndOthers" id="aval_AdjustmentsForIncreaseDecreaseInBorrowingsFromBanksAndOthers" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfConsolidatedAndSeparateFinancialStatementsExplanatoryAbstract" id="aval_DisclosureOfConsolidatedAndSeparateFinancialStatementsExplanatoryAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AlmavivaSaAndItsSubsidiaryMember" id="aval_AlmavivaSaAndItsSubsidiaryMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BancoDeBogotaPanamaSaMember" id="aval_BancoDeBogotaPanamaSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="FiduciariaDeOccidenteSaMember" id="aval_FiduciariaDeOccidenteSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BancoDeOccidentePanamaSaMember" id="aval_BancoDeOccidentePanamaSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OccidentalBankBarbadosLtdMember" id="aval_OccidentalBankBarbadosLtdMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="FiduciariaPopularSaMember" id="aval_FiduciariaPopularSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AlpopularSaMember" id="aval_AlpopularSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="HotelesEstelarSAMember" id="aval_HotelesEstelarSAMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="EstudiosYProyectosDelSolSasMember" id="aval_EstudiosYProyectosDelSolSasMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PromigasSaEspMember" id="aval_PromigasSaEspMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BancoDeBogotaSaMember" id="aval_BancoDeBogotaSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BancoDeOccidenteSaMember" id="aval_BancoDeOccidenteSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BancoPopularSAMember" id="aval_BancoPopularSAMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CorporacionFinancieraColombianaSaMember" id="aval_CorporacionFinancieraColombianaSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationOfUsefulLivesAndDepreciationRatesOfPropertyPlantAndEquipmentTextBlock" id="aval_DisclosureOfDetailedInformationOfUsefulLivesAndDepreciationRatesOfPropertyPlantAndEquipmentTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="RubberMember" id="aval_RubberMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AfricanOilPalmMember" id="aval_AfricanOilPalmMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfAccountingPolicyForNonvotingRightsOfPreferredSharesExplanatoryTextBlock" id="aval_DisclosureOfAccountingPolicyForNonvotingRightsOfPreferredSharesExplanatoryTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfAccountingJudgementsAndEstimatesExplanatoryAbstract" id="aval_DisclosureOfAccountingJudgementsAndEstimatesExplanatoryAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfRiskManagementAbstract" name="DisclosureOfRiskManagementAbstract" nillable="true" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfRiskManagementTextBlock" name="DisclosureOfRiskManagementTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationOnCreditPortfolioTextBlock" id="aval_DisclosureOfDetailedInformationOnCreditPortfolioTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationOnCreditPortfolioByEconomicSectorTextBlock" id="aval_DisclosureOfDetailedInformationOnCreditPortfolioByEconomicSectorTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationOnCreditPortfolioByRestructuringTextBlock" id="aval_DisclosureOfDetailedInformationOnCreditPortfolioByRestructuringTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationOnForeclosedAssetsTextBlock" id="aval_DisclosureOfDetailedInformationOnForeclosedAssetsTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationOnCreditWorthinessTextBlock" id="aval_DisclosureOfDetailedInformationOnCreditWorthinessTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfAssetsAndLiabilitiesExposedToTradingRiskTextBlock" id="aval_DisclosureOfAssetsAndLiabilitiesExposedToTradingRiskTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutFinancialSubsidiariesRiskTextBlock" id="aval_DisclosureOfDetailedInformationAboutFinancialSubsidiariesRiskTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutFinancialSubsidiariesRiskByTypeTextBlock" id="aval_DisclosureOfDetailedInformationAboutFinancialSubsidiariesRiskByTypeTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutForeignCurrencyAssetsAndLiabilitiesTextBlock" id="aval_DisclosureOfDetailedInformationAboutForeignCurrencyAssetsAndLiabilitiesTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfInterestRateRiskOnAssetsAndLiabilitiesTextBlock" id="aval_ScheduleOfInterestRateRiskOnAssetsAndLiabilitiesTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutBreakdownByTimeBandsOfLiquidAssetsAndLiquidityRiskIndicatorTextBlock" id="aval_DisclosureOfDetailedInformationAboutBreakdownByTimeBandsOfLiquidAssetsAndLiquidityRiskIndicatorTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MicrocreditMember" id="aval_MicrocreditMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OtherCountriesMember" id="aval_OtherCountriesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="FinancingReceivablesByEconomicSectorAxis" id="aval_FinancingReceivablesByEconomicSectorAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="EconomicSectorDomain" id="aval_EconomicSectorDomain" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AgriculturalMember" id="aval_AgriculturalMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MiningProductsAndOilMember" id="aval_MiningProductsAndOilMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="FoodBeverageAndTobaccoMember" id="aval_FoodBeverageAndTobaccoMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ChemicalProductionMember" id="aval_ChemicalProductionMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OtherIndustrialAndManufacturingProductsMember" id="aval_OtherIndustrialAndManufacturingProductsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="TradeAndTourismMember" id="aval_TradeAndTourismMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="TransportationAndCommunicationsMember" id="aval_TransportationAndCommunicationsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PublicServicesMember" id="aval_PublicServicesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ConsumerServicesMember" id="aval_ConsumerServicesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CommercialServicesMember" id="aval_CommercialServicesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OtherMember" id="aval_OtherMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="FinancingReceivablesByObjectiveAxis" id="aval_FinancingReceivablesByObjectiveAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="FinancingReceivablesByObjectiveDomain" id="aval_FinancingReceivablesByObjectiveDomain" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="InvestmentGradeMember" id="aval_InvestmentGradeMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SpeculativeMember" id="aval_SpeculativeMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="GovernmentDebtInstrumentsHeldPercentage" id="aval_GovernmentDebtInstrumentsHeldPercentage" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="BankDebtInstrumentsHeldPercentage" id="aval_BankDebtInstrumentsHeldPercentage" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="TotalSovereignRisk" id="aval_TotalSovereignRisk" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="ForeclosedFinancialAssetsReceived" id="aval_ForeclosedFinancialAssetsReceived" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="ForeclosedFinancialAssetsSold" id="aval_ForeclosedFinancialAssetsSold" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="CashAndCashEquivalentsWithCentralBankMember" id="aval_CashAndCashEquivalentsWithCentralBankMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CashAndCashEquivalentsFinancialEntitiesMember" id="aval_CashAndCashEquivalentsFinancialEntitiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OtherPublicEntitiesDebtSecuritiesMember" id="aval_OtherPublicEntitiesDebtSecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="FinancialEntitiesDebtSecuritiesMember" id="aval_FinancialEntitiesDebtSecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MultilateralsDebtSecuritiesMember" id="aval_MultilateralsDebtSecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CentralBanksDebtSecuritiesMember" id="aval_CentralBanksDebtSecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="WithoutGradeOrNotAvailableMember" id="aval_WithoutGradeOrNotAvailableMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_FinanceAssetsLiabilitiesNet" name="FinanceAssetsLiabilitiesNet" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element name="DisclosureOfDetailedInformationAboutBreakdownByContractualUndiscountedCashFlowsOfFinancialAssetsAndLiabilitiesIncludingProjectedContractualInterestReceivableAndPayableTextBlock" id="aval_DisclosureOfDetailedInformationAboutBreakdownByContractualUndiscountedCashFlowsOfFinancialAssetsAndLiabilitiesIncludingProjectedContractualInterestReceivableAndPayableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="TradingRiskAxis" id="aval_TradingRiskAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="FinancialSubsidiariesBasisPointsOfRegulatoryCapital" id="aval_FinancialSubsidiariesBasisPointsOfRegulatoryCapital" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_LoansAndReceivablesRestructured" name="LoansAndReceivablesRestructured" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element name="MutualFundsMember" id="aval_MutualFundsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_TradingDerivativesMember" name="TradingDerivativesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerDepositsMember" id="aval_CustomerDepositsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="FinancialObligationsMember" id="aval_FinancialObligationsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NoninterestMember" id="aval_NoninterestMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SavingDepositsMember" id="aval_SavingDepositsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OtherDepositsMember" id="aval_OtherDepositsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="InterbankAndOvernightFundsMember" id="aval_InterbankAndOvernightFundsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BorrowingFromBanksAndOtherMember" id="aval_BorrowingFromBanksAndOtherMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_LaterThanOneDayAndNotLaterThanSevenDaysMember" name="LaterThanOneDayAndNotLaterThanSevenDaysMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TotalAssetsWeightedByRisk" id="aval_TotalAssetsWeightedByRisk" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="InvestmentInDebtInstrumentAsPercentageOfTotalPortfolio" id="aval_InvestmentInDebtInstrumentAsPercentageOfTotalPortfolio" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MarketRiskWeightedAssetsAsPercentageOfTotalRiskWeightedAssets" id="aval_MarketRiskWeightedAssetsAsPercentageOfTotalRiskWeightedAssets" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DecreaseInEquityDueToChangeInValueOfUsd" name="DecreaseInEquityDueToChangeInValueOfUsd" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_IncreaseInEquityDueToChangeInValueOfUsd" name="IncreaseInEquityDueToChangeInValueOfUsd" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_DecreaseInProfitBeforeTaxDueToChangeInValueOfUsd" name="DecreaseInProfitBeforeTaxDueToChangeInValueOfUsd" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element name="SolvencyRiskRatio" id="aval_SolvencyRiskRatio" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BasicSolvencyRiskRatio" id="aval_BasicSolvencyRiskRatio" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfEstimationsOfFairValueAbstract" id="aval_DisclosureOfEstimationsOfFairValueAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutChangesInLevel3FairvalueCategory" name="DisclosureOfDetailedInformationAboutChangesInLevel3FairvalueCategory" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element name="SecuritiesIssuedByColombianGovernmentMember" id="aval_SecuritiesIssuedByColombianGovernmentMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SecuritiesIssuedByOtherEntitiesOfColombianGovernmentMember" id="aval_SecuritiesIssuedByOtherEntitiesOfColombianGovernmentMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SecuritiesIssuedByOtherFinancialEntitiesMember" id="aval_SecuritiesIssuedByOtherFinancialEntitiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SecuritiesIssuedByEntitiesOfNonfinancialSectorMember" id="aval_SecuritiesIssuedByEntitiesOfNonfinancialSectorMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SecuritiesIssuedByForeignGovernmentsMember" id="aval_SecuritiesIssuedByForeignGovernmentsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SecuritiesIssuedByCentralBanksMember" id="aval_SecuritiesIssuedByCentralBanksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CurrencyForwardContractMember" id="aval_CurrencyForwardContractMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CurrencyOptionsContractMember" id="aval_CurrencyOptionsContractMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ImpairedCollateralizedLoans" id="aval_ImpairedCollateralizedLoans" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="FavorableScenarioMember" id="aval_FavorableScenarioMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="UnfavorableScenarioMember" id="aval_UnfavorableScenarioMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="GrowthRateMember" id="aval_GrowthRateMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_LaterThanFiveYearsAndNotLaterThanSixYearsMember" name="LaterThanFiveYearsAndNotLaterThanSixYearsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_LaterThanSixYearsAndNotLaterThanSevenYearsMember" name="LaterThanSixYearsAndNotLaterThanSevenYearsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherComprehensiveIncomeReclassificationAdjustment" id="aval_OtherComprehensiveIncomeReclassificationAdjustment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="TransfersToNoncurrentAssetsHeldForSale" id="aval_TransfersToNoncurrentAssetsHeldForSale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="aval_PriceOfNaturalRubber" name="PriceOfNaturalRubber" nillable="true" type="srt-types:perUnitItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" />
  <xsd:element id="aval_PriceOfAfricanPalmPerTon" name="PriceOfAfricanPalmPerTon" nillable="true" type="srt-types:perUnitItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" />
  <xsd:element id="aval_DisclosureOfCashAndCashEquivalentsAbstract" name="DisclosureOfCashAndCashEquivalentsAbstract" nillable="true" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfCashAndCashEquivalentsTable" id="aval_DisclosureOfCashAndCashEquivalentsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfCashAndCashEquivalentsLineItems" id="aval_DisclosureOfCashAndCashEquivalentsLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OthersMember" id="aval_OthersMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CorporateStockMember" id="aval_CorporateStockMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PledgedInMoneyMarketOperationsMember" id="aval_PledgedInMoneyMarketOperationsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MinerosSaMember" id="aval_MinerosSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CorficolombianaSaMember" id="aval_CorficolombianaSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ForeignCurrencyMember" id="aval_ForeignCurrencyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LevelOneToTwoMember" id="aval_LevelOneToTwoMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsForHedgingTextBlock" id="aval_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsForHedgingTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutFluctuationInForeignExchangeRatesTextBlock" id="aval_DisclosureOfDetailedInformationAboutFluctuationInForeignExchangeRatesTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutHedgeInForeignCurrencyEquityInvestmentsTextBlock" id="aval_DisclosureOfDetailedInformationAboutHedgeInForeignCurrencyEquityInvestmentsTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="VariationInClosingForeignExchangeRate" id="aval_VariationInClosingForeignExchangeRate" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OtherSubsidiariesAndBranchesBancoDeBogotaMember" id="aval_OtherSubsidiariesAndBranchesBancoDeBogotaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="IncomeInUsDollarsForecasted" id="aval_IncomeInUsDollarsForecasted" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="NumberOfContracts" id="aval_NumberOfContracts" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="BondsIssuedDesignatedAsHedgingInstruments" id="aval_BondsIssuedDesignatedAsHedgingInstruments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfLoansAndReceivablesAbstract" id="aval_DisclosureOfLoansAndReceivablesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutDistributionOfCreditPortfolioTextBlock" id="aval_DisclosureOfDetailedInformationAboutDistributionOfCreditPortfolioTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsTextBlock" id="aval_DisclosureOfDetailedInformationAboutReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutPortfolioOfLoansAssessedIndividuallyForImpairmentTextBlock" id="aval_DisclosureOfDetailedInformationAboutPortfolioOfLoansAssessedIndividuallyForImpairmentTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutDistributionOfLoansPortfolioByMaturityPeriodTextBlock" id="aval_DisclosureOfDetailedInformationAboutDistributionOfLoansPortfolioByMaturityPeriodTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutClassificationOfLoanPortfolioByTypeOfCurrencyTextBlock" id="aval_DisclosureOfDetailedInformationAboutClassificationOfLoanPortfolioByTypeOfCurrencyTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="GeneralPurposeLoansMember" id="aval_GeneralPurposeLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PersonalLoansMember" id="aval_PersonalLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="WorkingCapitalLoansMember" id="aval_WorkingCapitalLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CreditCardsMember" id="aval_CreditCardsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AutomobileAndVehicleLoansMember" id="aval_AutomobileAndVehicleLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LoansFundedByDevelopmentBanksMember" id="aval_LoansFundedByDevelopmentBanksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OverdraftsMember" id="aval_OverdraftsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="WithRecognizedProvisionMember" id="aval_WithRecognizedProvisionMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="VehiclesAndComputerEquipmentMember" id="aval_VehiclesAndComputerEquipmentMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MachineryAndEquipmentsMember" id="aval_MachineryAndEquipmentsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="HousingLeasingMember" id="aval_HousingLeasingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfOtherAccountsReceivablesAbstract" id="aval_DisclosureOfOtherAccountsReceivablesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutOtherAccountsReceivablesTextBlock" name="DisclosureOfDetailedInformationAboutOtherAccountsReceivablesTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element name="AccountsReceivablesInNonfinancialSector" id="aval_AccountsReceivablesInNonfinancialSector" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="CompensationReceivable" id="aval_CompensationReceivable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="Others" id="aval_Others" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfNoncurrentAssetsHeldForSaleAbstract" id="aval_DisclosureOfNoncurrentAssetsHeldForSaleAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutLiabilitiesWithGroupsOfAssetsHeldForSaleTextBlock" id="aval_DisclosureOfDetailedInformationAboutLiabilitiesWithGroupsOfAssetsHeldForSaleTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfNoncurrentAssetsHeldForSaleTable" id="aval_DisclosureOfNoncurrentAssetsHeldForSaleTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInFairValueOfAssetsHeldForSale" id="aval_IncreaseDecreaseInFairValueOfAssetsHeldForSale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="OtherRealEstateMember" id="aval_OtherRealEstateMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ForeclosedAssetsMember" id="aval_ForeclosedAssetsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfNoncurrentAssetsHeldForSaleLineItems" id="aval_DisclosureOfNoncurrentAssetsHeldForSaleLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfInvestmentsInAssociatesAndJointVenturesAbstract" id="aval_DisclosureOfInvestmentsInAssociatesAndJointVenturesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfInvestmentInAssociatesAndJointVenturesTextBlock" name="DisclosureOfInvestmentInAssociatesAndJointVenturesTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutInvestmentInAssociatesAndJointVenturesTextBlock" name="DisclosureOfDetailedInformationAboutInvestmentInAssociatesAndJointVenturesTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutMovementOfInvestmentsInAssociatesAndJointVenturesAccountsTextBlock" name="DisclosureOfDetailedInformationAboutMovementOfInvestmentsInAssociatesAndJointVenturesAccountsTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_AchColombiaSaMember" name="AchColombiaSaMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_RedebanMulticolorSaMember" name="RedebanMulticolorSaMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_CredibancoSaMember" name="CredibancoSaMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_AerocaliSaMember" name="AerocaliSaMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_ColombianaDeExtrusionSaExtrucolMember" name="ColombianaDeExtrusionSaExtrucolMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_MetrexSaMember" name="MetrexSaMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_GasesDelCaribeSaEspMember" name="GasesDelCaribeSaEspMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_EnergiaEficienteSaMember" name="EnergiaEficienteSaMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="Acquisitions" id="aval_Acquisitions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="GainOrLossThroughExchangeDifference" id="aval_GainOrLossThroughExchangeDifference" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutMainPremisesUsedInImpairmentTestReportsTakenAsBasisForImpairmentTestingTextBlock" id="aval_DisclosureOfDetailedInformationAboutMainPremisesUsedInImpairmentTestReportsTakenAsBasisForImpairmentTestingTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="InsideBancoDeBogotaSaMember" id="aval_InsideBancoDeBogotaSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="GrowthRateInIncomeFromCommissions" id="aval_GrowthRateInIncomeFromCommissions" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="GrowthRateInExpenses" id="aval_GrowthRateInExpenses" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="InflationRateUsedInImpairmentTestsOfCashGeneratingUnits" id="aval_InflationRateUsedInImpairmentTestsOfCashGeneratingUnits" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="BancoDeCreditoYDesarrolloSocialMember" id="aval_BancoDeCreditoYDesarrolloSocialMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutOtherIntangibleAssetsTextBlock" name="DisclosureOfDetailedInformationAboutOtherIntangibleAssetsTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element name="ServiceConcessionArrangementMember" id="aval_ServiceConcessionArrangementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="WithoutRecognizedProvisionMember" id="aval_WithoutRecognizedProvisionMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutReconciliationOfUndiscountedLeasePaymentsToNetInvestmentInFinanceLeaseTextBlock" id="aval_DisclosureOfDetailedInformationAboutReconciliationOfUndiscountedLeasePaymentsToNetInvestmentInFinanceLeaseTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ReclassificationAdjustmentOfPropertyPlantAndEquipment" id="aval_ReclassificationAdjustmentOfPropertyPlantAndEquipment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AssetsReceivedInTotalOrPartialSettlementOfPaymentObligationsOfDebtors" id="aval_AssetsReceivedInTotalOrPartialSettlementOfPaymentObligationsOfDebtors" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="WarehousesMember" id="aval_WarehousesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfIncomeTaxAbstract" id="aval_DisclosureOfIncomeTaxAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfCustomerDepositsAbstract" id="aval_DisclosureOfCustomerDepositsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutDepositsTextBlock" id="aval_DisclosureOfDetailedInformationAboutDepositsTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutEffectiveInterestRatesWhichAreAccruedOnCustomerDepositsTextBlock" id="aval_DisclosureOfDetailedInformationAboutEffectiveInterestRatesWhichAreAccruedOnCustomerDepositsTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfCustomerDepositsTable" id="aval_DisclosureOfCustomerDepositsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfCustomerDepositsLineItems" id="aval_DisclosureOfCustomerDepositsLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="IndividualsMember" id="aval_IndividualsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CommerceMember" id="aval_CommerceMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="GovernmentAndColombianGovernmentEntitiesMember" id="aval_GovernmentAndColombianGovernmentEntitiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ManufacturingMember" id="aval_ManufacturingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="RealEstatesMember" id="aval_RealEstatesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ColombianMunicipalitiesMember" id="aval_ColombianMunicipalitiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AgricultureAndLivestockMember" id="aval_AgricultureAndLivestockMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ForeignGovernmentsMember" id="aval_ForeignGovernmentsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDepositsFromFinancialObligationsAbstract" name="DisclosureOfDepositsFromFinancialObligationsAbstract" nillable="true" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutOtherBorrowingsExplanatoryTextBlock" id="aval_DisclosureOfDetailedInformationAboutOtherBorrowingsExplanatoryTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutBondIssuedTextBlock" id="aval_DisclosureOfDetailedInformationAboutBondIssuedTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_GuaranteedWithInvestments" name="GuaranteedWithInvestments" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element name="OvernightFunds" id="aval_OvernightFunds" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="InterbankFundsPurchased" id="aval_InterbankFundsPurchased" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="CommitmentsToTransferOpenAndClosedRepoOperations" id="aval_CommitmentsToTransferOpenAndClosedRepoOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="CommitmentsToTransferSimultaneousOperations" id="aval_CommitmentsToTransferSimultaneousOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="CommitmentsOriginatedInShortPositionsSimultaneousOperations" id="aval_CommitmentsOriginatedInShortPositionsSimultaneousOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="InterbankFunds" id="aval_InterbankFunds" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="LettersOfCredit" id="aval_LettersOfCredit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="BankersAcceptances" id="aval_BankersAcceptances" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfDetailedInformationAboutBorrowingExplanatoryAbstract" id="aval_DisclosureOfDetailedInformationAboutBorrowingExplanatoryAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BorrowingsIssuedDate" id="aval_BorrowingsIssuedDate" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="GrupoAvalLimitedMember" id="aval_GrupoAvalLimitedMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDefinedBenefitsPlansExplanatoryTextBlock" id="aval_DisclosureOfDefinedBenefitsPlansExplanatoryTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_PostemploymentbenefitsMember" name="PostemploymentbenefitsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_LongtermbenefitsMember" name="LongtermbenefitsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NetDefinedBenefitLiabilityAssetAfterAdjustment" id="aval_NetDefinedBenefitLiabilityAssetAfterAdjustment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="ConcentrationsOfDepositsPercentage" id="aval_ConcentrationsOfDepositsPercentage" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="LaborProceedingsMember" id="aval_LaborProceedingsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfAccountsPayableAndOtherLiabilitiesAbstract" id="aval_DisclosureOfAccountsPayableAndOtherLiabilitiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CashierChecksPayable" id="aval_CashierChecksPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="CommissionsAndFeesPayable" id="aval_CommissionsAndFeesPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="CollectionServiceLiability" id="aval_CollectionServiceLiability" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="CollectionOnBehalfOfThirdParties" id="aval_CollectionOnBehalfOfThirdParties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="ChecksIssuedButNotPaid" id="aval_ChecksIssuedButNotPaid" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="LegalReserve" id="aval_LegalReserve" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="NetIncomeLossAttributableToParent" id="aval_NetIncomeLossAttributableToParent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="CommonStockConversionToPreferredStock" id="aval_CommonStockConversionToPreferredStock" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfNoncontrollingInterestAbstract" id="aval_DisclosureOfNoncontrollingInterestAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfNoncontrollingInterestTable" id="aval_DisclosureOfNoncontrollingInterestTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfNoncontrollingInterestLineItems" id="aval_DisclosureOfNoncontrollingInterestLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfCommitmentsAndContingenciesAbstract" id="aval_DisclosureOfCommitmentsAndContingenciesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutCommitmentsInUnusedLinesOfCreditTextBlock" id="aval_DisclosureOfDetailedInformationAboutCommitmentsInUnusedLinesOfCreditTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutCreditCommitmentsByCurrencyTextBlock" id="aval_DisclosureOfDetailedInformationAboutCreditCommitmentsByCurrencyTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="UnusedLettersOfCreditMember" id="aval_UnusedLettersOfCreditMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="UnusedLimitsOfOverdraftsMember" id="aval_UnusedLimitsOfOverdraftsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="UnusedCreditCardLimitsMember" id="aval_UnusedCreditCardLimitsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutFinancialInformationOfNoncontrollingInterestTextBlock" id="aval_DisclosureOfDetailedInformationAboutFinancialInformationOfNoncontrollingInterestTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CivilProceedingsMember" id="aval_CivilProceedingsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PensionAndSeveranceFundManagementFees" id="aval_PensionAndSeveranceFundManagementFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="aval_CommissionsAndFeesFromTrustActivities" name="CommissionsAndFeesFromTrustActivities" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_CommissionsAndFeesFromStorageServices" name="CommissionsAndFeesFromStorageServices" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element name="CommissionsOnDraftsChecksAndCheckbooks" id="aval_CommissionsOnDraftsChecksAndCheckbooks" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="aval_CommissionsAndFeesFromOfficeNetworkServices" name="CommissionsAndFeesFromOfficeNetworkServices" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element name="BankingServicesExpenses" id="aval_BankingServicesExpenses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="SalesAndServicesCommissionsExpenses" id="aval_SalesAndServicesCommissionsExpenses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="OfficesNetworkServicesExpenses" id="aval_OfficesNetworkServicesExpenses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="InformationProcessingServicesOfOperatorsExpenses" id="aval_InformationProcessingServicesOfOperatorsExpenses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfNetTradingIncomeAbstract" id="aval_DisclosureOfNetTradingIncomeAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutNetTradingIncomeTextBlock" name="DisclosureOfDetailedInformationAboutNetTradingIncomeTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfNetTradingIncomeTable" id="aval_DisclosureOfNetTradingIncomeTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfNetTradingIncomeLineItems" id="aval_DisclosureOfNetTradingIncomeLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfOtherIncomeAndExpenseAbstract" id="aval_DisclosureOfOtherIncomeAndExpenseAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_PersonnelExpenses" name="PersonnelExpenses" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_AffiliationContributionsAndTransfers" name="AffiliationContributionsAndTransfers" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_AdvertisingExpenses" name="AdvertisingExpenses" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_WarehouseExpense" name="WarehouseExpense" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" abstract="false" />
  <xsd:element id="aval_CleaningAndSecurityServicesExpense" name="CleaningAndSecurityServicesExpense" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_OutsourcingServicesExpenses" name="OutsourcingServicesExpenses" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_SuppliesAndStationary" name="SuppliesAndStationary" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_ElectronicDataProcessingExpense" name="ElectronicDataProcessingExpense" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_AdaptationAndInstallationExpense" name="AdaptationAndInstallationExpense" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element name="TypesOfTaxesAxis" id="aval_TypesOfTaxesAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="TypesOfTaxesDomain" id="aval_TypesOfTaxesDomain" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutRevenuesForEachIndividualCountryForWhichRevenuesAreSignificantTextBlock" name="DisclosureOfDetailedInformationAboutRevenuesForEachIndividualCountryForWhichRevenuesAreSignificantTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutNoncurrentAssetsForEachIndividualCountryForWhichRevenuesAreSignificantTextBlock" name="DisclosureOfDetailedInformationAboutNoncurrentAssetsForEachIndividualCountryForWhichRevenuesAreSignificantTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element name="OtherAssetsTotal" id="aval_OtherAssetsTotal" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="OtherLiabilitiesTotal" id="aval_OtherLiabilitiesTotal" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfDetailedInformationAboutOffsettingOfFinancialAssetsAndFinancialLiabilitiesTextBlock" id="aval_DisclosureOfDetailedInformationAboutOffsettingOfFinancialAssetsAndFinancialLiabilitiesTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_ManagedFundsMember" name="ManagedFundsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfTransfersOfFinancialAssetsAbstract" id="aval_DisclosureOfTransfersOfFinancialAssetsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutBalancesWithRelatedPartiesTextBlock" name="DisclosureOfDetailedInformationAboutBalancesWithRelatedPartiesTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfRelatedPartyTable" id="aval_DisclosureOfRelatedPartyTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="EntitiesControlledbyIndividualsMember" id="aval_EntitiesControlledbyIndividualsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfRelatedPartyLineItems" id="aval_DisclosureOfRelatedPartyLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="FinancialAssetsInInvestments" id="aval_FinancialAssetsInInvestments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="Salaries" id="aval_Salaries" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfIncomeTaxTable" id="aval_DisclosureOfIncomeTaxTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MajorComponentsOfIncomeTaxExpensesTextBlock" id="aval_MajorComponentsOfIncomeTaxExpensesTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ReconciliationBetweenEffectiveIncomeTaxExplanatoryTextBlock" id="aval_ReconciliationBetweenEffectiveIncomeTaxExplanatoryTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="TaxLossCarryForwardInExcessOfMinimumPresumptiveIncomeExplanatoryTextBlock" id="aval_TaxLossCarryForwardInExcessOfMinimumPresumptiveIncomeExplanatoryTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutEffectsOfCurrentAndDeferredIncomeTaxesInEachComponentOfOtherComprehensiveIncomeTextBlock" id="aval_DisclosureOfDetailedInformationAboutEffectsOfCurrentAndDeferredIncomeTaxesInEachComponentOfOtherComprehensiveIncomeTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="IncomeTaxSurcharge" id="aval_IncomeTaxSurcharge" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="aval_NontaxableDividends" name="NontaxableDividends" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_TaxEffectOnProfitLossInSalesOrAppraisalOfInvestment" name="TaxEffectOnProfitLossInSalesOrAppraisalOfInvestment" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_NontaxableInterestIncome" name="NontaxableInterestIncome" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_OtherNontaxableInterestIncome" name="OtherNontaxableInterestIncome" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_TaxBenefitsInAcquisitionOfPropertyAndEquipment" name="TaxBenefitsInAcquisitionOfPropertyAndEquipment" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_IncreaseDecreaseInBenefitsInTaxRates" name="IncreaseDecreaseInBenefitsInTaxRates" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element name="WithoutExpirationDateMember" id="aval_WithoutExpirationDateMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SurplusOfPresumptiveIncomeMember" id="aval_SurplusOfPresumptiveIncomeMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfIncomeTaxLineItems" id="aval_DisclosureOfIncomeTaxLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DeferredTaxAssetsMember" name="DeferredTaxAssetsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DeferredTaxLiabilitiesMember" name="DeferredTaxLiabilitiesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DebtSecuritiesAtFairValueMember" id="aval_DebtSecuritiesAtFairValueMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="EquitySecuritiesAtFairValueMember" id="aval_EquitySecuritiesAtFairValueMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DerivativeInstrumentsMember" id="aval_DerivativeInstrumentsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AccountsReceivablesMember" id="aval_AccountsReceivablesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AllowanceForImpairmentOnLoansAndReceivablesMember" id="aval_AllowanceForImpairmentOnLoansAndReceivablesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="TaxLossesCarryForwardMember" id="aval_TaxLossesCarryForwardMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ProvisionsMember" id="aval_ProvisionsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DeferredIncomeMember" id="aval_DeferredIncomeMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LeaseAgreementMember" id="aval_LeaseAgreementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SurchargeMember" id="aval_SurchargeMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalGainTaxMember" id="aval_CapitalGainTaxMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutGrossInvestmentAndNetInvestmentInFinancialLeasingContractsReceivableTextBlock" id="aval_DisclosureOfDetailedInformationAboutGrossInvestmentAndNetInvestmentInFinancialLeasingContractsReceivableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutSubsidiaryThatHasSignificantNonControllingInterestsTextBlock" id="aval_DisclosureOfDetailedInformationAboutSubsidiaryThatHasSignificantNonControllingInterestsTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="IncomeTaxLiabilitiesAbstract" id="aval_IncomeTaxLiabilitiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InterestExpenseOnDepositsSavingsAccounts" name="InterestExpenseOnDepositsSavingsAccounts" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_InterestExpenseOnDepositsTimeDeposits" name="InterestExpenseOnDepositsTimeDeposits" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element name="ColombianaDeLicitacionesYConcesionesSasMember" id="aval_ColombianaDeLicitacionesYConcesionesSasMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="FiduciariaBogotaSaMember" id="aval_FiduciariaBogotaSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_FairValueAdjustmentsAbstract" name="FairValueAdjustmentsAbstract" nillable="true" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PledgedAsCollateralToSpecialEntitiesSuchAsCrccBrAndBvcMember" id="aval_PledgedAsCollateralToSpecialEntitiesSuchAsCrccBrAndBvcMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SociedadPortuariaElCayaoSaEspMember" id="aval_SociedadPortuariaElCayaoSaEspMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="GasesDelPacificoSacMember" id="aval_GasesDelPacificoSacMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="GasNaturalDeLimaYCallaoSacCaliddaMember" id="aval_GasNaturalDeLimaYCallaoSacCaliddaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="FinancialMember" id="aval_FinancialMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_PercentageOfHedgingEffectiveness" name="PercentageOfHedgingEffectiveness" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="WeightedAverageNumberOfCommonAndPreferenceSharesOutstanding" id="aval_WeightedAverageNumberOfCommonAndPreferenceSharesOutstanding" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutComponentsOfAccumulatedOtherComprehensiveIncomeTableTextBlock" id="aval_DisclosureOfDetailedInformationAboutComponentsOfAccumulatedOtherComprehensiveIncomeTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="IncomeTaxRelatingToOciMember" id="aval_IncomeTaxRelatingToOciMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="InvestmentsInAssociatesAndJointVenturesMember" id="aval_InvestmentsInAssociatesAndJointVenturesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AociRelatedToEquitySecuritiesMember" id="aval_AociRelatedToEquitySecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AociRelatedToDebtSecuritiesMember" id="aval_AociRelatedToDebtSecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AociRelatedToCashFlowHedgesMember" id="aval_AociRelatedToCashFlowHedgesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BondForwardMember" id="aval_BondForwardMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutInvestmentsHeldToMaturityTextBlock" id="aval_DisclosureOfDetailedInformationAboutInvestmentsHeldToMaturityTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ExceedsBookValueOfCashGeneratingUnit" id="aval_ExceedsBookValueOfCashGeneratingUnit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="TradingRiskDomain" id="aval_TradingRiskDomain" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MeasureTradingRiskMethodMember" id="aval_MeasureTradingRiskMethodMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfReasonablyPossibleIncreaseAndDecreaseInActuarialAssumption" id="aval_PercentageOfReasonablyPossibleIncreaseAndDecreaseInActuarialAssumption" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="ExternalIncomeAbstract" id="aval_ExternalIncomeAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="UnsecuredCreditsMember" id="aval_UnsecuredCreditsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LoansSecuredByOtherBanksMember" id="aval_LoansSecuredByOtherBanksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CollateralizedMortgagesMember" id="aval_CollateralizedMortgagesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutFutureMaturitiesOfBondsTextBlock" id="aval_DisclosureOfDetailedInformationAboutFutureMaturitiesOfBondsTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_RevenueFromSaleOfGoodsAndRenderingOfServices" name="RevenueFromSaleOfGoodsAndRenderingOfServices" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_CostOfMerchandiseSoldAndServiceExpenses" name="CostOfMerchandiseSoldAndServiceExpenses" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element name="TradingAssetsAndLiabilitiesAbstract" id="aval_TradingAssetsAndLiabilitiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfBalancesOfTradingAssetsAndLiabilitiesTableTextBlock" id="aval_DisclosureOfBalancesOfTradingAssetsAndLiabilitiesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfInvestmentInTradingDebtSecuritiesTableTextBlock" id="aval_DisclosureOfInvestmentInTradingDebtSecuritiesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfInvestmentInTradingEquitySecuritiesTableTextBlock" id="aval_DisclosureOfInvestmentInTradingEquitySecuritiesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfHeldForTradingDerivativeAssetsAndLiabilitiesTableTextBlock" id="aval_DisclosureOfHeldForTradingDerivativeAssetsAndLiabilitiesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfTradingAssetsInDebtSecuritiesPledgedAsCollateralTableTextBlock" id="aval_DisclosureOfTradingAssetsInDebtSecuritiesPledgedAsCollateralTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_TradingAssetsAndLiabilitiesNet" name="TradingAssetsAndLiabilitiesNet" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element name="PensionAndSeveranceFundsMember" id="aval_PensionAndSeveranceFundsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ForwardContractForeignCurrencyToBuyMember" id="aval_ForwardContractForeignCurrencyToBuyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ForwardContractForeignCurrencyToSellMember" id="aval_ForwardContractForeignCurrencyToSellMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ForwardContractDebtSecuritiesToBuyMember" id="aval_ForwardContractDebtSecuritiesToBuyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ForwardContractDebtSecuritiesToSellMember" id="aval_ForwardContractDebtSecuritiesToSellMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OptionContractForeignCurrencyToBuyMember" id="aval_OptionContractForeignCurrencyToBuyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OptionContractForeignCurrencyToSellMember" id="aval_OptionContractForeignCurrencyToSellMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfInvestmentSecuritiesAbstract" id="aval_DisclosureOfInvestmentSecuritiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfInvestmentSecuritiesTextBlock" id="aval_DisclosureOfInvestmentSecuritiesTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfBalancesOfInvestmentSecuritiesTableTextBlock" id="aval_DisclosureOfBalancesOfInvestmentSecuritiesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfInvestmentsInDebtSecuritiesAtFairValueThroughProfitOrLossTableTextBlock" id="aval_DisclosureOfInvestmentsInDebtSecuritiesAtFairValueThroughProfitOrLossTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfInvestmentsInDebtSecuritiesAtFairValueThroughOCITableTextBlock" id="aval_DisclosureOfInvestmentsInDebtSecuritiesAtFairValueThroughOCITableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfInvestmentsInEquitySecuritiesAtFairValueThroughOCITableTextBlock" id="aval_DisclosureOfInvestmentsInEquitySecuritiesAtFairValueThroughOCITableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InvestmentSecuritiesNet" name="InvestmentSecuritiesNet" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_FinancialAssetsUnrealisedGains" name="FinancialAssetsUnrealisedGains" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_FinancialAssetsUnrealisedLosses" name="FinancialAssetsUnrealisedLosses" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element name="ClassificationOfFinancialAssetsAndFinancialLiabilitiesAbstract" id="aval_ClassificationOfFinancialAssetsAndFinancialLiabilitiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ClassificationOfFinancialAssetsAndFinancialLiabilitiesTextBlock" id="aval_ClassificationOfFinancialAssetsAndFinancialLiabilitiesTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfTotalAssetsOfFundsToBeInvestedInMandatorySeveranceAndPensionFunds" id="aval_PercentageOfTotalAssetsOfFundsToBeInvestedInMandatorySeveranceAndPensionFunds" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InvestmentSecuritiesMember" name="InvestmentSecuritiesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LoansAndReceivablesMember" id="aval_LoansAndReceivablesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PossibleIncreaseInVariationByNumberOfTimes" id="aval_PossibleIncreaseInVariationByNumberOfTimes" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PossibleDecreaseInVariationByNumberOfTimes" id="aval_PossibleDecreaseInVariationByNumberOfTimes" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfPossibleIncreaseInVariation" id="aval_PercentageOfPossibleIncreaseInVariation" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfPossibleDecreaseInVariation" id="aval_PercentageOfPossibleDecreaseInVariation" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_SensitivityOfInvestments" name="SensitivityOfInvestments" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element name="ClassificationOfFinancialAssetsAndFinancialLiabilitiesTableTextBlock" id="aval_ClassificationOfFinancialAssetsAndFinancialLiabilitiesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutSensitivityAnalysisOfChangesOnAssumptionsRelatedToInvestmentsClassifiedAsEquityInstrumentsAtFvociTextBlock" id="aval_DisclosureOfDetailedInformationAboutSensitivityAnalysisOfChangesOnAssumptionsRelatedToInvestmentsClassifiedAsEquityInstrumentsAtFvociTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DescriptionOfAccountingPolicyForFinancialAssetsAndFinancialLiabilitiesPolicyTextBlock" id="aval_DescriptionOfAccountingPolicyForFinancialAssetsAndFinancialLiabilitiesPolicyTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ConcesionariaVialDelOrienteS.a.sMember" id="aval_ConcesionariaVialDelOrienteS.a.sMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ConcesionariaVialAndinaS.a.sMember" id="aval_ConcesionariaVialAndinaS.a.sMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfProgressOfBuilding" id="aval_PercentageOfProgressOfBuilding" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="TransmetanoE.s.p.S.aMember" id="aval_TransmetanoE.s.p.S.aMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PromiorienteS.a.E.s.pMember" id="aval_PromiorienteS.a.E.s.pMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="GasesDeOccidenteS.a.E.s.pMember" id="aval_GasesDeOccidenteS.a.E.s.pMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SociedadPortuariaElCayaoS.a.E.s.pMember" id="aval_SociedadPortuariaElCayaoS.a.E.s.pMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SurtigasS.a.E.s.pMember" id="aval_SurtigasS.a.E.s.pMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CompaniaEnergeticaDeOccidenteS.a.E.s.pMember" id="aval_CompaniaEnergeticaDeOccidenteS.a.E.s.pMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ProyectosDeInfraestructuraS.aMember" id="aval_ProyectosDeInfraestructuraS.aMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ConcesionariaPanamericanaS.a.sMember" id="aval_ConcesionariaPanamericanaS.a.sMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ConcesionariaNuevaViaDelMarS.a.sMember" id="aval_ConcesionariaNuevaViaDelMarS.a.sMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IncomeFromContractWithCustomersAbstract" name="IncomeFromContractWithCustomersAbstract" nillable="true" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IncomeFromGoodsAndServicesFromNonFinancialSector" name="IncomeFromGoodsAndServicesFromNonFinancialSector" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_OperatingIncomeOther" name="OperatingIncomeOther" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_AllowanceForImpairmentOfLoansAndReceivables" name="AllowanceForImpairmentOfLoansAndReceivables" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_BonusPayments" name="BonusPayments" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_CostOfGoodsAndServicesCommissionAndFeesExpenses" name="CostOfGoodsAndServicesCommissionAndFeesExpenses" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_LaborSeveranceExpenses" name="LaborSeveranceExpenses" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_TotalDemandDeposits" name="TotalDemandDeposits" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_ConcessionLiabilities" name="ConcessionLiabilities" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_IncomeReceivedForThirdParties" name="IncomeReceivedForThirdParties" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_CustomerLoyaltyProgramsLiability" name="CustomerLoyaltyProgramsLiability" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_IfrsLoanToValueAxis" name="IfrsLoanToValueAxis" nillable="true" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IfrsLoanToValueDomain" name="IfrsLoanToValueDomain" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_LtvLessThan50PercentMember" name="LtvLessThan50PercentMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_Ltv51To70PercentMember" name="Ltv51To70PercentMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_Ltv71To90PercentMember" name="Ltv71To90PercentMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_Ltv90To100PercentMember" name="Ltv90To100PercentMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_LtvMoreThan100PercentMember" name="LtvMoreThan100PercentMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_LtvMoreThan70PercentMember" name="LtvMoreThan70PercentMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_LoanCommitmentsAndFinancialGuaranteeContractsMember" name="LoanCommitmentsAndFinancialGuaranteeContractsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_ScenarioMember" name="ScenarioMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_ScenarioBMember" name="ScenarioBMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_ScenarioCMember" name="ScenarioCMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InflationRatePercentage" name="InflationRatePercentage" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" abstract="false" />
  <xsd:element id="aval_GdpGrowthPercentage" name="GdpGrowthPercentage" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" abstract="false" />
  <xsd:element id="aval_DisclosureOfEconomicScenarioForKeyIndicatorsOfCreditRiskAndCreditLossesTableTextBlock" name="DisclosureOfEconomicScenarioForKeyIndicatorsOfCreditRiskAndCreditLossesTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_TradeReceivablesAndContractAssetsFromIndividualCustomersMember" name="TradeReceivablesAndContractAssetsFromIndividualCustomersMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_StandbyLettersOfCreditCommitmentsMember" name="StandbyLettersOfCreditCommitmentsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_StandbyCreditCardFacilityCommitmentsMember" name="StandbyCreditCardFacilityCommitmentsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_UndrawnApprovedLoansCommitmentsMember" name="UndrawnApprovedLoansCommitmentsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_LoanPortfolioMember" name="LoanPortfolioMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IncreaseDecreaseRemeasurementOfLossAllowanceNet" name="IncreaseDecreaseRemeasurementOfLossAllowanceNet" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_IncreaseDecreaseThroughUnwindingOfDiscount" name="IncreaseDecreaseThroughUnwindingOfDiscount" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_ConcesionariaVialDelPacificoS.a.s.Member" name="ConcesionariaVialDelPacificoS.a.s.Member" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IncreaseInProfitBeforeTaxDueToChangeInValueOfUsd" name="IncreaseInProfitBeforeTaxDueToChangeInValueOfUsd" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_PercentageOfAverageDifferenceInForeignCurrencyDenominatedRightsAndForeignCurrencyDenominatedObligationsOnUnconsolidatedBasis" name="PercentageOfAverageDifferenceInForeignCurrencyDenominatedRightsAndForeignCurrencyDenominatedObligationsOnUnconsolidatedBasis" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_PercentageOfAverageDifferenceInForeignCurrencyDenominatedRightsAndForeignCurrencyDenominatedObligationsOnConsolidatedBasis" name="PercentageOfAverageDifferenceInForeignCurrencyDenominatedRightsAndForeignCurrencyDenominatedObligationsOnConsolidatedBasis" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutCommissionsAndFeesOfContractsTextBlock" name="DisclosureOfDetailedInformationAboutCommissionsAndFeesOfContractsTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_InfrastructureConcessionArrangementMember" name="InfrastructureConcessionArrangementMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_PreferentialMinimumDividendPerSemesterPerShare" name="PreferentialMinimumDividendPerSemesterPerShare" nillable="true" type="dtr-types:perShareItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_LegalReserveAsPercentageOfNetProfit" name="LegalReserveAsPercentageOfNetProfit" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_MaximumLegalReserveAsPercentageOfSubscriptionCapitalStock" name="MaximumLegalReserveAsPercentageOfSubscriptionCapitalStock" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" abstract="false" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutMovementsInOtherComprehensiveIncomeRelatedToHedgesOfNetInvestmentInForeignOperationsTableTextBlock" name="DisclosureOfDetailedInformationAboutMovementsInOtherComprehensiveIncomeRelatedToHedgesOfNetInvestmentInForeignOperationsTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_AllowanceForAccountsReceivableMember" name="AllowanceForAccountsReceivableMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutInterestIncomeByPortfolioTableTextBlock" name="DisclosureOfDetailedInformationAboutInterestIncomeByPortfolioTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_OtherAccountsReceivablesGross" name="OtherAccountsReceivablesGross" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutOtherReceivablesTableTextBlock" name="DisclosureOfDetailedInformationAboutOtherReceivablesTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutContractAssetsTableTextBlock" name="DisclosureOfDetailedInformationAboutContractAssetsTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_IndividualsWithControlOverEntityMember" name="IndividualsWithControlOverEntityMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IbrMember" name="IbrMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_ImpactOfMeasurementOfExpectedCreditLossesDueToChangesMade" name="ImpactOfMeasurementOfExpectedCreditLossesDueToChangesMade" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_CpiMember" name="CpiMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfExposureToCreditRiskAndEclsForOtherAccountsReceivablesAndContractAssetsForCorporateCustomersTableTextBlock" name="DisclosureOfExposureToCreditRiskAndEclsForOtherAccountsReceivablesAndContractAssetsForCorporateCustomersTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfSegmentationOfAccountsReceivableTableTextBlock" name="DisclosureOfSegmentationOfAccountsReceivableTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_LossGivenDefaultRecoveryRatesWeightage" name="LossGivenDefaultRecoveryRatesWeightage" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_MultilateralBladexMember" name="MultilateralBladexMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_AdjustmentsForValidationAndInterestFromConcessionAgreements" name="AdjustmentsForValidationAndInterestFromConcessionAgreements" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutInvestmentInDebtSecuritiesBySectorTableTextBlock" name="DisclosureOfDetailedInformationAboutInvestmentInDebtSecuritiesBySectorTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutInvestmentInDebtSecuritiesByLocationTableTextBlock" name="DisclosureOfDetailedInformationAboutInvestmentInDebtSecuritiesByLocationTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutInvestmentInDebtSecuritiesBySovereignRiskTableTextBlock" name="DisclosureOfDetailedInformationAboutInvestmentInDebtSecuritiesBySovereignRiskTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfBreakDownOfFinancialAssetsAndLiabilitiesExposedToTradingRiskTableTextBlock" name="DisclosureOfBreakDownOfFinancialAssetsAndLiabilitiesExposedToTradingRiskTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfBreakdownOfInterestBearingAssetsAndLiabilitiesByInterestRateTypeAndMaturityTableTextBlock" name="DisclosureOfBreakdownOfInterestBearingAssetsAndLiabilitiesByInterestRateTypeAndMaturityTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_IncreaseDecreaseThroughTransferFromStage1ToStage2" name="IncreaseDecreaseThroughTransferFromStage1ToStage2" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_IncreaseDecreaseThroughTransferFromStage1ToStage3" name="IncreaseDecreaseThroughTransferFromStage1ToStage3" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_IncreaseDecreaseThroughTransferFromStage2ToStage3" name="IncreaseDecreaseThroughTransferFromStage2ToStage3" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_IncreaseDecreaseThroughTransferFromStage3ToStage2" name="IncreaseDecreaseThroughTransferFromStage3ToStage2" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_IncreaseDecreaseThroughTransferFromStage2ToStage1" name="IncreaseDecreaseThroughTransferFromStage2ToStage1" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_IncreaseDecreaseThroughTransferFromStage3ToStage1" name="IncreaseDecreaseThroughTransferFromStage3ToStage1" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_PercentageOfTotalAssetsRepresentingMaximumExposure" name="PercentageOfTotalAssetsRepresentingMaximumExposure" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfReconciliationOfLossAllowanceTableTextBlock" name="DisclosureOfReconciliationOfLossAllowanceTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DescriptionOfAccountingPolicyForTradingAssetsAndLiabilitiesTextBlock" name="DescriptionOfAccountingPolicyForTradingAssetsAndLiabilitiesTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DepreciationOfPropertyPlantAndEquipmentMember" name="DepreciationOfPropertyPlantAndEquipmentMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DeferredChargesAndOfIntangibleAssetsMember" name="DeferredChargesAndOfIntangibleAssetsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_OtherAccountsReceivableAtAmortizedCostMember" name="OtherAccountsReceivableAtAmortizedCostMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_CashCollateralOnDerivatives" name="CashCollateralOnDerivatives" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_DisclosureOfInvestmentDebtSecuritiesFvociAmountReclassifiedToProfitOrLossFromOtherComprehensiveIncomeGrossOfTaxTableTextBlock" name="DisclosureOfInvestmentDebtSecuritiesFvociAmountReclassifiedToProfitOrLossFromOtherComprehensiveIncomeGrossOfTaxTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_RedemptionsOrSalesReclassifiedFromOCIBeforeTaxToProfitOrLoss" name="RedemptionsOrSalesReclassifiedFromOCIBeforeTaxToProfitOrLoss" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_ExpectedCreditLossAllowancesReclassifiedFromOCIBeforeTaxToProfitOrLoss" name="ExpectedCreditLossAllowancesReclassifiedFromOCIBeforeTaxToProfitOrLoss" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_AmountReclassifiedToProfitOrLossFromOtherComprehensiveIncomeBeforeTax" name="AmountReclassifiedToProfitOrLossFromOtherComprehensiveIncomeBeforeTax" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsTextBlock" name="DisclosureOfDetailedInformationAboutCashAndCashEquivalentsTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_Reclassification" name="Reclassification" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_ActuarialGainsLossesFromDefinedBenefitPensionPlanMember" name="ActuarialGainsLossesFromDefinedBenefitPensionPlanMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationOnCreditPortfolioByGeographicalAreaTextBlock" name="DisclosureOfDetailedInformationOnCreditPortfolioByGeographicalAreaTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_ImpairmentAllowanceOfOtherAccountsReceivables" name="ImpairmentAllowanceOfOtherAccountsReceivables" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_OtherAccountsReceivablesNet" name="OtherAccountsReceivablesNet" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_AociRelatedToForeignCurrencyTranslationDifferencesFromUnhedgedForeignOperationMember" name="AociRelatedToForeignCurrencyTranslationDifferencesFromUnhedgedForeignOperationMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IfrsGovernmentMember" name="IfrsGovernmentMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IfrsRepurchaseAgreementsMember" name="IfrsRepurchaseAgreementsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IfrsSovereignDebtSecuritiesMember" name="IfrsSovereignDebtSecuritiesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IfrsCorporateDebtSecuritiesMember" name="IfrsCorporateDebtSecuritiesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfRiskManagementCreditRiskTextBlock" name="DisclosureOfRiskManagementCreditRiskTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfRiskManagementMarketRiskTextBlock" name="DisclosureOfRiskManagementMarketRiskTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfRiskManagementLiquidityRiskTextBlock" name="DisclosureOfRiskManagementLiquidityRiskTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfRiskManagementRegulatoryCapitalManagementTextBlock" name="DisclosureOfRiskManagementRegulatoryCapitalManagementTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_ProportionOfOwnershipInterestInSubsidiaryNoncontrollingInterests" name="ProportionOfOwnershipInterestInSubsidiaryNoncontrollingInterests" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_OtherIncomeExpense" name="OtherIncomeExpense" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_ImpairmentRecoveryOnOtherFinancialAssets" name="ImpairmentRecoveryOnOtherFinancialAssets" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_TaxEffectOfRevenuesTaxableByDifferentTaxRate" name="TaxEffectOfRevenuesTaxableByDifferentTaxRate" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_AdjustmentDueToSettlementOfUncertainTaxPositionsFormPriorPeriods" name="AdjustmentDueToSettlementOfUncertainTaxPositionsFormPriorPeriods" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_NontaxableIncomeUnderEquityMethodInAssociates" name="NontaxableIncomeUnderEquityMethodInAssociates" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_IfrsRealEstateMember" name="IfrsRealEstateMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_LaterThanSevenYearsAndNotLaterThanEightYearsMember" name="LaterThanSevenYearsAndNotLaterThanEightYearsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_LaterThanTenYearsAndNotLaterThanElevenYearsMember" name="LaterThanTenYearsAndNotLaterThanElevenYearsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_OtherAccountReceivablesDebtors" name="OtherAccountReceivablesDebtors" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_CentralCounterpartiesMember" name="CentralCounterpartiesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_TaxLossCarryForwardsAndExcessOfPresumptiveIncomeNotRecognizedAsDeferredTaxAssets" name="TaxLossCarryForwardsAndExcessOfPresumptiveIncomeNotRecognizedAsDeferredTaxAssets" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_AccumulatedOtherComprehensiveIncomeIncludingNoncontrollingInterestsMember" name="AccumulatedOtherComprehensiveIncomeIncludingNoncontrollingInterestsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_AccumulatedOtherComprehensiveIncomeAttributableToNoncontrollingInterestsMember" name="AccumulatedOtherComprehensiveIncomeAttributableToNoncontrollingInterestsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InterestRateOnInvestments" name="InterestRateOnInvestments" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" />
  <xsd:element id="aval_FinancialAssetsAtCost" name="FinancialAssetsAtCost" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_LoansAndReceivablesNet" name="LoansAndReceivablesNet" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_UnemploymentRatePercentage" name="UnemploymentRatePercentage" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" abstract="false" />
  <xsd:element id="aval_OtherAccountsReceivableGeneralApproachMember" name="OtherAccountsReceivableGeneralApproachMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_OtherAccountsReceivableSimplifiedApproachMember" name="OtherAccountsReceivableSimplifiedApproachMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DecreaseThroughRecoveryForPartialPaymentsFinancialAssets" name="DecreaseThroughRecoveryForPartialPaymentsFinancialAssets" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_IfrsCashAndCashEquivalentsMember" name="IfrsCashAndCashEquivalentsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InvestmentSecuritiesAtAmortisedCostMember" name="InvestmentSecuritiesAtAmortisedCostMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InvestmentSecuritiesAtFairValueMember" name="InvestmentSecuritiesAtFairValueMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_NonfinancialAssetsMember" name="NonfinancialAssetsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IfrsOtherDebtSecuritiesMember" name="IfrsOtherDebtSecuritiesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_PurchaseOfFinancialAssetsCategorisedUnderFairValueThroughOtherComprehensiveIncome" name="PurchaseOfFinancialAssetsCategorisedUnderFairValueThroughOtherComprehensiveIncome" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_ProceedsFromSaleOrDisposalOfFinancialAssetsCategorisedUnderFairValueThroughOtherComprehensiveIncome" name="ProceedsFromSaleOrDisposalOfFinancialAssetsCategorisedUnderFairValueThroughOtherComprehensiveIncome" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_FutureFinanceChargeOnFinanceLeaseIFRS16" name="FutureFinanceChargeOnFinanceLeaseIFRS16" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_RangeOneMember" name="RangeOneMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_RangeTwoMember" name="RangeTwoMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_RangeThreeMember" name="RangeThreeMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_RangeFourMember" name="RangeFourMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_RangeFiveMember" name="RangeFiveMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_RangeSixMember" name="RangeSixMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_RangeSevenMember" name="RangeSevenMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_RangeEightMember" name="RangeEightMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_AdlDigitalLabSasMember" name="AdlDigitalLabSasMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_ConditionalContributions" name="ConditionalContributions" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_IncreaseDecreaseInOtherReceivablesAssociatedWithLoans" name="IncreaseDecreaseInOtherReceivablesAssociatedWithLoans" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_ServiciosDeIdentidadDigitalS.a.sMember" name="ServiciosDeIdentidadDigitalS.a.sMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InfrastructureMember" name="InfrastructureMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_OthersServicesMember" name="OthersServicesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_TaxEffectOfTaxDiscounts" name="TaxEffectOfTaxDiscounts" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_AllowanceForForeclosedAssetsMember" name="AllowanceForForeclosedAssetsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_AllowanceOfInvestmentsSecuritiesMember" name="AllowanceOfInvestmentsSecuritiesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_RightOfUseMember" name="RightOfUseMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_FinancialAssetsInConcessionArrangementMember" name="FinancialAssetsInConcessionArrangementMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IntangibleAssetsInConcessionArrangementsMember" name="IntangibleAssetsInConcessionArrangementsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_CorficolombianaMember" name="CorficolombianaMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DividendsPayableMember" name="DividendsPayableMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_BondsIssuedMember" name="BondsIssuedMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_AnalysisOfChangesInFinancingLiabilitiesBalance" name="AnalysisOfChangesInFinancingLiabilitiesBalance" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_AdjustmentsForEquityTransactions" name="AdjustmentsForEquityTransactions" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_TotalLiabilitiesRelatedToOtherChanges" name="TotalLiabilitiesRelatedToOtherChanges" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_TotalEquityRelatedToOtherChanges" name="TotalEquityRelatedToOtherChanges" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_GrossEmployeeBenefits" name="GrossEmployeeBenefits" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_BancoAvVillasMember" name="BancoAvVillasMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_LaterThanEightYearsAndNotLaterThanNineYearsMember" name="LaterThanEightYearsAndNotLaterThanNineYearsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_LaterThanNineYearsAndNotLaterThanTenYearsMember" name="LaterThanNineYearsAndNotLaterThanTenYearsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_EnergyAndGasEGMember" name="EnergyAndGasEGMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfChangesInGrossCarryingAmountTableTextBlock" name="DisclosureOfChangesInGrossCarryingAmountTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_RealizedGainLossOnEquityInstruments" name="RealizedGainLossOnEquityInstruments" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_WithholdingTax" name="WithholdingTax" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" abstract="false" />
  <xsd:element id="aval_InterestPaidLeases" name="InterestPaidLeases" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_IfrsConstructionMember" name="IfrsConstructionMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_CapitalizedLeasingCost" name="CapitalizedLeasingCost" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_CostOfSalesDepreciation" name="CostOfSalesDepreciation" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_CostOfSalesDepreciationRightOfUseAssets" name="CostOfSalesDepreciationRightOfUseAssets" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_BorrowingsFromBanksAndOthersBorrowings" name="BorrowingsFromBanksAndOthersBorrowings" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_ExpectedCreditLossesAllowanceAccountForCreditLossesOfFinancialAssets" name="ExpectedCreditLossesAllowanceAccountForCreditLossesOfFinancialAssets" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_OtherReserveTaxWithholding" name="OtherReserveTaxWithholding" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_WithholdingTaxOverDividends" name="WithholdingTaxOverDividends" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" abstract="false" />
  <xsd:element id="aval_CfcGasHoldingS.a.sMember" name="CfcGasHoldingS.a.sMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DeferredTaxExpenseIncomeAndAdjustmentsForDeferredTaxOfPriorPeriods" name="DeferredTaxExpenseIncomeAndAdjustmentsForDeferredTaxOfPriorPeriods" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_SpecialFreeZoneTaxRate" name="SpecialFreeZoneTaxRate" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_PercentageOfScenarioProbabilityWeightingInMeasuringExpectedCreditLosses" name="PercentageOfScenarioProbabilityWeightingInMeasuringExpectedCreditLosses" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfOtherLiabilitiesToBeCancelledTableTextBlock" name="DisclosureOfOtherLiabilitiesToBeCancelledTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfScenarioOfProbabilityOfWeightingInMeasuringExpectedCreditLossesTableTextBlock" name="DisclosureOfScenarioOfProbabilityOfWeightingInMeasuringExpectedCreditLossesTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfOtherReceivablesTableTextBlock" name="DisclosureOfOtherReceivablesTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_FeesPaidToPensionFundsSalesForces" name="FeesPaidToPensionFundsSalesForces" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_DeferredCompensationArrangementWithIndividualDisclosurePostretirementBenefitsTableTextBlock" name="DeferredCompensationArrangementWithIndividualDisclosurePostretirementBenefitsTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_IncomeFromFinancialInstrumentsDesignatedAtFairValueNet" name="IncomeFromFinancialInstrumentsDesignatedAtFairValueNet" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_AdjustmentsForGainsLossesOnFairValueAdjustmentBiologicalAssets" name="AdjustmentsForGainsLossesOnFairValueAdjustmentBiologicalAssets" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_DisclosureOfSensitivityAnalysisOfForeignExchangeEffectTableTextBlock" name="DisclosureOfSensitivityAnalysisOfForeignExchangeEffectTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_ProportionOfLossAllowanceToGrossExposure" name="ProportionOfLossAllowanceToGrossExposure" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" />
  <xsd:element id="aval_BancoCommercialAvVillasSMember" name="BancoCommercialAvVillasSMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_FinancialAssetsInConcessionMember" name="FinancialAssetsInConcessionMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InterestPaidDividendsPayableBondsIssuedAndLeasesClassifiedAsOperatingActivities" name="InterestPaidDividendsPayableBondsIssuedAndLeasesClassifiedAsOperatingActivities" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_ProceedsFromIssueOfBondsNotesAndDebenturesExcludingInterestIssuanceOfDebtSecurities" name="ProceedsFromIssueOfBondsNotesAndDebenturesExcludingInterestIssuanceOfDebtSecurities" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_RequiredPercentageOfIncreaseInNetIncomeTaxToGetAuditBenefit" name="RequiredPercentageOfIncreaseInNetIncomeTaxToGetAuditBenefit" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_AdjustmentsForDecreaseIncreaseInDerivativeFinancialInstruments" name="AdjustmentsForDecreaseIncreaseInDerivativeFinancialInstruments" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_AdjustmentsForDecreaseIncreaseInLoansAndReceivables" name="AdjustmentsForDecreaseIncreaseInLoansAndReceivables" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_EffectOnFairValueOfUnconditionalTransferRightsOfGasPipelinesToGovernmentEntitiesDueToIncreaseInBasisPoint" name="EffectOnFairValueOfUnconditionalTransferRightsOfGasPipelinesToGovernmentEntitiesDueToIncreaseInBasisPoint" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_EffectOnFairValueOfUnconditionalTransferRightsOfGasPipelinesToGovernmentEntitiesDueToDecreaseInBasisPoint" name="EffectOnFairValueOfUnconditionalTransferRightsOfGasPipelinesToGovernmentEntitiesDueToDecreaseInBasisPoint" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_IncreaseThroughAdditionsAssetsHeldForSale" name="IncreaseThroughAdditionsAssetsHeldForSale" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_DecreaseThroughAssetSoldAssetsHeldForSale" name="DecreaseThroughAssetSoldAssetsHeldForSale" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_IncreaseDecreaseThroughReclassificationsAssetsHeldForSale" name="IncreaseDecreaseThroughReclassificationsAssetsHeldForSale" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_IncreaseDecreaseThroughForeignExchangeAssetsHeldForSale" name="IncreaseDecreaseThroughForeignExchangeAssetsHeldForSale" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_PledgedInMoneyMarketOperationsAndPledgedAsCollateralToSpecialEntitiesSuchAsCrccBrAndBvcMember" name="PledgedInMoneyMarketOperationsAndPledgedAsCollateralToSpecialEntitiesSuchAsCrccBrAndBvcMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InvestmentPropertyCost" name="InvestmentPropertyCost" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_InvestmentPropertyAccumulatedAdjustmentsToFairValue" name="InvestmentPropertyAccumulatedAdjustmentsToFairValue" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesRelatedToGasEnergyServicesContributionsAndOthersMember" name="OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesRelatedToGasEnergyServicesContributionsAndOthersMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_GrossInvestmentInFinanceLease" name="GrossInvestmentInFinanceLease" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_FinancialAssetsHeldForManagingLiquidityRiskLiabilityBalance" name="FinancialAssetsHeldForManagingLiquidityRiskLiabilityBalance" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_IfrsEquitySecuritiesMember" name="IfrsEquitySecuritiesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_GasesDelNorteDelPeruS.a.c.Member" name="GasesDelNorteDelPeruS.a.c.Member" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_MultilateralInterAmericanCorporationForFinancingOfInfrastructureMember" name="MultilateralInterAmericanCorporationForFinancingOfInfrastructureMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IncreaseDecreaseDueToChangesInLeaseVariablesPropertyPlantAndEquipment" name="IncreaseDecreaseDueToChangesInLeaseVariablesPropertyPlantAndEquipment" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_AdjustmentsForGainsLossesOnDisposalsOfInvestmentProperties" name="AdjustmentsForGainsLossesOnDisposalsOfInvestmentProperties" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_EffectOfMovementsInExchangeRates" name="EffectOfMovementsInExchangeRates" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_PrivateRealEstateEquityFundNexusMember" name="PrivateRealEstateEquityFundNexusMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_PayrollLoansMember" name="PayrollLoansMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_GovernmentReceivable" name="GovernmentReceivable" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_SalesTax" name="SalesTax" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_DisclosureOfMacroeconomicVariablesUsedExpectedCreditLossCalculationTableTextBlock" name="DisclosureOfMacroeconomicVariablesUsedExpectedCreditLossCalculationTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_TransferToNonCurrentAssetsHeldForSaleOtherThanGoodwill" name="TransferToNonCurrentAssetsHeldForSaleOtherThanGoodwill" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_PromigasS.a.AndGasesDelPacficoS.a.c.UnderRule144a.Member" name="PromigasS.a.AndGasesDelPacficoS.a.c.UnderRule144a.Member" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_KeyManagementPersonnelCompensationFee" name="KeyManagementPersonnelCompensationFee" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_LossesDueToClaims" name="LossesDueToClaims" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_ImpairmentLossesOnOtherAssets" name="ImpairmentLossesOnOtherAssets" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_DonationsExpense" name="DonationsExpense" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_PercentageOfCapitalConversionBuffer" name="PercentageOfCapitalConversionBuffer" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_PercentageOfSystematicRiskBuffer" name="PercentageOfSystematicRiskBuffer" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfLoansAndAdvancesByRangeOfLoanToValueRatioTableTextBlock" name="DisclosureOfLoansAndAdvancesByRangeOfLoanToValueRatioTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutSensitivityAnalysisOfAssumptionsTransferRightsOfGasPipelinesToGovernmentEntitiesTextBlock" name="DisclosureOfDetailedInformationAboutSensitivityAnalysisOfAssumptionsTransferRightsOfGasPipelinesToGovernmentEntitiesTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutFinancialAssetsAndLiabilitiesAccountedAtAmortizedCostAndValuedAtFairValueOnlyForPurposesOfThisDisclosureTextBlock" name="DisclosureOfDetailedInformationAboutFinancialAssetsAndLiabilitiesAccountedAtAmortizedCostAndValuedAtFairValueOnlyForPurposesOfThisDisclosureTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfDetailedInformationAboutMainPremisesUsedInLatestImpairmentTestsOfCashGeneratingUnitsWithAllocatedGoodwillTextBlock" name="DisclosureOfDetailedInformationAboutMainPremisesUsedInLatestImpairmentTestsOfCashGeneratingUnitsWithAllocatedGoodwillTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_IncreaseDecreaseInDiscountRateAppliedToCashFlowProjections" name="IncreaseDecreaseInDiscountRateAppliedToCashFlowProjections" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_ShortTermBenefitsMember" name="ShortTermBenefitsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_GasNaturalDeLimaYCallaoSaCaliddaMember" name="GasNaturalDeLimaYCallaoSaCaliddaMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_CommercialLendingPortfolioMember" name="CommercialLendingPortfolioMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_AdministrativeProceedingsMember" name="AdministrativeProceedingsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfLegalRelatedAndNonLegalRelatedProvisionAbstract" name="DisclosureOfLegalRelatedAndNonLegalRelatedProvisionAbstract" nillable="true" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_ProvisionsForAdministrativeProceedings" name="ProvisionsForAdministrativeProceedings" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_AvVillasSaMember" name="AvVillasSaMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_CollateralizedOtherRealEstateMember" name="CollateralizedOtherRealEstateMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_CollateralizedInvestmentsInEquityInstrumentsMember" name="CollateralizedInvestmentsInEquityInstrumentsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_CollateralizedDepositsInCashOrCashEquivalentsMember" name="CollateralizedDepositsInCashOrCashEquivalentsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_CollateralizedLeasedMachineriesAndVehiclesMember" name="CollateralizedLeasedMachineriesAndVehiclesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_CollateralizedFiduciaryAgreementsStandByLettersAndGuaranteeFundsMember" name="CollateralizedFiduciaryAgreementsStandByLettersAndGuaranteeFundsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_CollateralizedPledgedIncomeMember" name="CollateralizedPledgedIncomeMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_CollateralizedPledgesMember" name="CollateralizedPledgesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_CollateralizedOtherAssetsMember" name="CollateralizedOtherAssetsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_IfrsLongTermDebtMember" name="IfrsLongTermDebtMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_BancoDeBogotaSaUnderRule144aMember" name="BancoDeBogotaSaUnderRule144aMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfCreditRiskCategoriesTableTextBlock" name="DisclosureOfCreditRiskCategoriesTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfCreditRiskMonitoringDataTableTextBlock" name="DisclosureOfCreditRiskMonitoringDataTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_OverdraftFacilityMember" name="OverdraftFacilityMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_PercentageOfLoanPortfolioInForeignCurrency" name="PercentageOfLoanPortfolioInForeignCurrency" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DisclosureOfInterestsInAssociatesCorporatePurposeTableTextBlock" name="DisclosureOfInterestsInAssociatesCorporatePurposeTableTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesRelatedToContributionsMember" name="OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesRelatedToContributionsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesRelatedToGasMember" name="OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesRelatedToGasMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesRelatedToEnergyServicesMember" name="OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesRelatedToEnergyServicesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesRelatedToOthersMember" name="OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesRelatedToOthersMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_OtherFinanceIncomeCostIncludingIncomeFromFinancialInstrumentsDesignatedAtFairValueNetAndTradingIncomeExpense" name="OtherFinanceIncomeCostIncludingIncomeFromFinancialInstrumentsDesignatedAtFairValueNetAndTradingIncomeExpense" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_OtherFinancialLiabilitiesHedgeNetForeignInvestment" name="OtherFinancialLiabilitiesHedgeNetForeignInvestment" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="credit" />
  <xsd:element id="aval_DepreciationTangibleAssets" name="DepreciationTangibleAssets" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_AdditionsOtherThanThroughBusinessCombinationsTangibleAssets" name="AdditionsOtherThanThroughBusinessCombinationsTangibleAssets" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" abstract="false" />
  <xsd:element id="aval_DisposalsAndRetirementsTangibleAssets" name="DisposalsAndRetirementsTangibleAssets" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_IncreaseDecreaseThroughNetExchangeDifferencesTangibleAssets" name="IncreaseDecreaseThroughNetExchangeDifferencesTangibleAssets" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_GainsLossesOnFairValueAdjustmentTangibleAssets" name="GainsLossesOnFairValueAdjustmentTangibleAssets" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="credit" />
  <xsd:element id="aval_MultiFinancialHoldingMember" name="MultiFinancialHoldingMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_EasementsMember" name="EasementsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_OperationalRisk" name="OperationalRisk" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xbrli:balance="debit" />
  <xsd:element id="aval_TotalSolvencyRatio" name="TotalSolvencyRatio" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_AdditionalTier1Percentage" name="AdditionalTier1Percentage" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_DecreesEstablishedMinimumLeverageRatio" name="DecreesEstablishedMinimumLeverageRatio" nillable="true" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element id="aval_PromigasPerS.a.c.Member" name="PromigasPerS.a.c.Member" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_PromigasPanamCorporationMember" name="PromigasPanamCorporationMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_RentingAutomayorS.a.Member" name="RentingAutomayorS.a.Member" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_BancoDeBogotaS.a.OverMultiFinancialGroupIncMember" name="BancoDeBogotaS.a.OverMultiFinancialGroupIncMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InternallyGeneratedDevelopingOtherIntangibleAssetsMember" name="InternallyGeneratedDevelopingOtherIntangibleAssetsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InternallyGeneratedInUseOtherIntangibleAssetsMember" name="InternallyGeneratedInUseOtherIntangibleAssetsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_ProvisionForRecognitionOfAdditionalCostsMember" name="ProvisionForRecognitionOfAdditionalCostsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_ServicesMember" name="ServicesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_InsuranceMember" name="InsuranceMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_ExploitationOfMinesAndQuarriesMember" name="ExploitationOfMinesAndQuarriesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_TransportMember" name="TransportMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_TelecommunicationsMember" name="TelecommunicationsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_EducationMember" name="EducationMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_ArtisticEntertainmentAndRecreationActivitiesMember" name="ArtisticEntertainmentAndRecreationActivitiesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_TourismMember" name="TourismMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_SecuritiesIssuedOrSecuredByNonFinancialSectorEntitiesMember" name="SecuritiesIssuedOrSecuredByNonFinancialSectorEntitiesMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_PledgedAsCollateralInOperationsWithDerivativeInstrumentsMember" name="PledgedAsCollateralInOperationsWithDerivativeInstrumentsMember" nillable="true" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <xsd:element id="aval_FairValueAssetsTransfersFromLevel2ToLevel3" name="FairValueAssetsTransfersFromLevel2ToLevel3" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_FairValueAssetsTransfersFromLevel3ToLevel2" name="FairValueAssetsTransfersFromLevel3ToLevel2" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_OperatingExpenseOther" name="OperatingExpenseOther" nillable="true" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" xbrli:balance="debit" />
  <xsd:element id="aval_DescriptionOfAccountingPolicyForOperatingSegmentsPolicyTextBlock" name="DescriptionOfAccountingPolicyForOperatingSegmentsPolicyTextBlock" nillable="true" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <xsd:element name="AdditionalTierOneCapital" id="aval_AdditionalTierOneCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="WithholdingsTaxOnDividendsPaidToEntities" id="aval_WithholdingsTaxOnDividendsPaidToEntities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="MortgageLoansMember" id="aval_MortgageLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="CashGeneratingUnitBookValue" id="aval_CashGeneratingUnitBookValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="LoanPortfolioAndInvestmentsLendingRate" id="aval_LoanPortfolioAndInvestmentsLendingRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="DisclosureOfDetailedInformationAboutTransferOfFairValueBetweenLevel1And2TextBlock" id="aval_DisclosureOfDetailedInformationAboutTransferOfFairValueBetweenLevel1And2TextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="CostOfSalesExcludingDepreciation" id="aval_CostOfSalesExcludingDepreciation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="GainsLossesOnExchangeDifferencesOnTranslationOfForeignOperationsUnhedgedBeforeTax" id="aval_GainsLossesOnExchangeDifferencesOnTranslationOfForeignOperationsUnhedgedBeforeTax" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNonDerivativeInstrumentsBeforeTax" id="aval_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNonDerivativeInstrumentsBeforeTax" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="GainsLossesOnExchangeDifferencesOnTranslationOfForeignOperationsHedgedBeforeTax" id="aval_GainsLossesOnExchangeDifferencesOnTranslationOfForeignOperationsHedgedBeforeTax" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="OtherComprehensiveIncomeBeforeTaxGainsLossesOnTransferFromOwnerOccupiedPropertyToInvestmentProperty" id="aval_OtherComprehensiveIncomeBeforeTaxGainsLossesOnTransferFromOwnerOccupiedPropertyToInvestmentProperty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="IncomeTaxRelatingToEffectOfMovingInvestmentPropertiesForOwnUseIncludedInOtherComprehensiveIncome" id="aval_IncomeTaxRelatingToEffectOfMovingInvestmentPropertiesForOwnUseIncludedInOtherComprehensiveIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="OtherComprehensiveIncomeNetOfTaxGainsLossesOnTransferFromOwnerOccupiedPropertyToInvestmentProperty" id="aval_OtherComprehensiveIncomeNetOfTaxGainsLossesOnTransferFromOwnerOccupiedPropertyToInvestmentProperty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="GainsLossesOnExchangeDifferencesOnTranslationOfForeignOperationsHedgedNetOfTax" id="aval_GainsLossesOnExchangeDifferencesOnTranslationOfForeignOperationsHedgedNetOfTax" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsDerivativeInstrumentsNetOfTax" id="aval_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsDerivativeInstrumentsNetOfTax" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNonDerivativeInstrumentsNetOfTax" id="aval_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNonDerivativeInstrumentsNetOfTax" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="GainsLossesOnExchangeDifferencesOnTranslationOfForeignOperationsUnhedgedNetOfTax" id="aval_GainsLossesOnExchangeDifferencesOnTranslationOfForeignOperationsUnhedgedNetOfTax" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="IncomeTaxRelatingToExchangeDifferencesOnTranslationOfForeignOperationsHedgedIncludedInOtherComprehensiveIncome" id="aval_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfForeignOperationsHedgedIncludedInOtherComprehensiveIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="IncomeTaxRelatingHedgesOfNetInvestmentsInForeignOperationsDerivativeInstrumentsIncludedInOtherComprehensiveIncome" id="aval_IncomeTaxRelatingHedgesOfNetInvestmentsInForeignOperationsDerivativeInstrumentsIncludedInOtherComprehensiveIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="IncomeTaxRelatingToExchangeDifferencesOnTranslationOfForeignOperationsUnhedgedIncludedInOtherComprehensiveIncome" id="aval_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfForeignOperationsUnhedgedIncludedInOtherComprehensiveIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="CurrentIncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" id="aval_CurrentIncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="DeferredIncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" id="aval_DeferredIncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluationOfTangibleAssetsAndTransferFromOwnerOccupiedPropertyToInvestmentProperty" id="aval_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluationOfTangibleAssetsAndTransferFromOwnerOccupiedPropertyToInvestmentProperty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="CurrentIncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" id="aval_CurrentIncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="DeferredIncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" id="aval_DeferredIncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="PaymentsForProceedsFromEquityTransactionsFinancingActivities" id="aval_PaymentsForProceedsFromEquityTransactionsFinancingActivities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="TotalIncomeAvailableForDistribution" id="aval_TotalIncomeAvailableForDistribution" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="OccasionalReserveReleasedForDistribution" id="aval_OccasionalReserveReleasedForDistribution" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="DecommissioningCost" id="aval_DecommissioningCost" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="AgribusinessMember" id="aval_AgribusinessMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="DisclosureOfDetailedInformationAboutMovementsOfNoncurrentAssetsHeldForSaleTableTextBlock" id="aval_DisclosureOfDetailedInformationAboutMovementsOfNoncurrentAssetsHeldForSaleTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DisclosureOfBalanceOfAssetsInConcessionAgreementsTableTextBlock" id="aval_DisclosureOfBalanceOfAssetsInConcessionAgreementsTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DisclosureOfConcessionContractsGrantedToSubsidiariesAndOtherRelatedPartiesTableTextBlock" id="aval_DisclosureOfConcessionContractsGrantedToSubsidiariesAndOtherRelatedPartiesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="BancoDeOccidenteS.a.OverBancoUnionMember" id="aval_BancoDeOccidenteS.a.OverBancoUnionMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="InvestmentCommitmentExpansionReplacementAndImprovementOfInfrastructureAdvancePercentage" id="aval_InvestmentCommitmentExpansionReplacementAndImprovementOfInfrastructureAdvancePercentage" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DisclosureOfDetailedInformationAboutCalculationOfMinimumRegulatoryCapitalTableTextBlock" id="aval_DisclosureOfDetailedInformationAboutCalculationOfMinimumRegulatoryCapitalTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DisclosureOfSummaryOfInvestmentsInDebtSecuritiesAtAmortizedCostByMaturityDatesTableTextBlock" id="aval_DisclosureOfSummaryOfInvestmentsInDebtSecuritiesAtAmortizedCostByMaturityDatesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DisclosureOfSwapsToReduceExchangeRateRiskOfFinancialLiabilitiesTableTextBlock" id="aval_DisclosureOfSwapsToReduceExchangeRateRiskOfFinancialLiabilitiesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="MultilateralAndeanDevelopmentCorporationCorporacionAndinaDeFomentoMember" id="aval_MultilateralAndeanDevelopmentCorporationCorporacionAndinaDeFomentoMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="RentingAutomayorS.a.s.Member" id="aval_RentingAutomayorS.a.s.Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="NominalInterestRateVariationPercentage" id="aval_NominalInterestRateVariationPercentage" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="InflationRatePercentageOneYearProjection" id="aval_InflationRatePercentageOneYearProjection" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="NominalInterestRateVariationPercentageOneYearProjection" id="aval_NominalInterestRateVariationPercentageOneYearProjection" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="GdpGrowthPercentageOneYearProjection" id="aval_GdpGrowthPercentageOneYearProjection" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="UnemploymentRatePercentageOneYearProjection" id="aval_UnemploymentRatePercentageOneYearProjection" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="LoanPortfolioDeliveredAsCollateral" id="aval_LoanPortfolioDeliveredAsCollateral" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="TwelveMonthExpectedCreditLossesAndLifetimeExpectedCreditLossesMember" id="aval_TwelveMonthExpectedCreditLossesAndLifetimeExpectedCreditLossesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="FinancialAssetsIdentifiableCollateralCarryingAmount" id="aval_FinancialAssetsIdentifiableCollateralCarryingAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="FinancialAssetsIdentifiableCollateralFairValue" id="aval_FinancialAssetsIdentifiableCollateralFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="AmortisationIntangibleAssets" id="aval_AmortisationIntangibleAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="OtherLiabilitiesOther" id="aval_OtherLiabilitiesOther" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="MaximumLegalReserveAsPercentageOfSubscriptionCapitalStockReducedToStemLossesInExcessOfRetainedEarnings" id="aval_MaximumLegalReserveAsPercentageOfSubscriptionCapitalStockReducedToStemLossesInExcessOfRetainedEarnings" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="LoanPortfolioAndInvestmentsInDebtSecuritiesAtAmortisedCostMember" id="aval_LoanPortfolioAndInvestmentsInDebtSecuritiesAtAmortisedCostMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="LaterThanElevenYearsAndNotLaterThanTwelveYearsMember" id="aval_LaterThanElevenYearsAndNotLaterThanTwelveYearsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerSharePerInstallment" id="aval_DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerSharePerInstallment" type="dtr-types:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="OccasionalReserveAmountToReserveAtDisposalOfShareholderMeeting" id="aval_OccasionalReserveAmountToReserveAtDisposalOfShareholderMeeting" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="GainLossOnAssetValuationNet" id="aval_GainLossOnAssetValuationNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="ContinuingOperationsAbstract" id="aval_ContinuingOperationsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="DisclosureOfLiquidityRequirementTableTextBlock" id="aval_DisclosureOfLiquidityRequirementTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DisclosureOfPercentageOfLiquidityRequirementTableTextBlock" id="aval_DisclosureOfPercentageOfLiquidityRequirementTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DisclosureOfImpairmentLossOfPortfolioTableTextBlock" id="aval_DisclosureOfImpairmentLossOfPortfolioTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="IncreaseDecreaseThroughDiscontinuedOperations" id="aval_IncreaseDecreaseThroughDiscontinuedOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="IfrsSharePrice" id="aval_IfrsSharePrice" type="dtr-types:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="CurrentIncomeTaxRelatingHedgesOfNetInvestmentsInForeignOperationsDerivativeInstrumentsIncludedInOtherComprehensiveIncome" id="aval_CurrentIncomeTaxRelatingHedgesOfNetInvestmentsInForeignOperationsDerivativeInstrumentsIncludedInOtherComprehensiveIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="DeferredIncomeTaxRelatingHedgesOfNetInvestmentsInForeignOperationsDerivativeInstrumentsIncludedInOtherComprehensiveIncome" id="aval_DeferredIncomeTaxRelatingHedgesOfNetInvestmentsInForeignOperationsDerivativeInstrumentsIncludedInOtherComprehensiveIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="IncreaseDecreaseOfNonCurrentAssetsHeldForSaleDiscontinuedOperations" id="aval_IncreaseDecreaseOfNonCurrentAssetsHeldForSaleDiscontinuedOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="DecreaseInTangibleAssetsDiscontinuedOperations" id="aval_DecreaseInTangibleAssetsDiscontinuedOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="IncreaseDecreaseThroughReclassificationFinancialAssets" id="aval_IncreaseDecreaseThroughReclassificationFinancialAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="GoodwillSensitivityRecoverableValueIfDiscountRate0.5PercentHigher" id="aval_GoodwillSensitivityRecoverableValueIfDiscountRate0.5PercentHigher" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="FairValueMeasurementAssetsDisposedDiscontinuedOperations" id="aval_FairValueMeasurementAssetsDisposedDiscontinuedOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="DisclosureOfDetailedInformationAboutSensitivityAnalysisOfChangesOnAssumptionsRelatedToInvestmentsClassifiedAsEquityInstrumentsAtFvtplTextBlock" id="aval_DisclosureOfDetailedInformationAboutSensitivityAnalysisOfChangesOnAssumptionsRelatedToInvestmentsClassifiedAsEquityInstrumentsAtFvtplTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="MinimumTaxRate" id="aval_MinimumTaxRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DividendWithholdingTaxRate" id="aval_DividendWithholdingTaxRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="MultiFinancialHoldingAndOtherSubsidiariesAndBranchesMember" id="aval_MultiFinancialHoldingAndOtherSubsidiariesAndBranchesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="TaxEffectOfNonAccountableTaxRevenue" id="aval_TaxEffectOfNonAccountableTaxRevenue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="TaxLossesOnWhichNoDeferredTaxAssetRecorded" id="aval_TaxLossesOnWhichNoDeferredTaxAssetRecorded" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="DeferredTaxLiabilitiesAssetDueToDiscontinuedOperations" id="aval_DeferredTaxLiabilitiesAssetDueToDiscontinuedOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="SixMonthSecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember" id="aval_SixMonthSecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="ForeignCurrencyBondsMember" id="aval_ForeignCurrencyBondsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="IncreaseDecreaseThroughOtherProvisionsDiscontinuedOperations" id="aval_IncreaseDecreaseThroughOtherProvisionsDiscontinuedOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="ReclassificationBySpinOffAndDeConsolidationOtherProvisions" id="aval_ReclassificationBySpinOffAndDeConsolidationOtherProvisions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="FinancialTransactionTaxLiability" id="aval_FinancialTransactionTaxLiability" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="LiabilityForCanceledAccounts" id="aval_LiabilityForCanceledAccounts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="AnticipatedIncome" id="aval_AnticipatedIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="IfrsNumberOfOperatingSegments" id="aval_IfrsNumberOfOperatingSegments" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="FundsManagedByOtherEntitiesMember" id="aval_FundsManagedByOtherEntitiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="IfrsLoansAndLeasesReceivableRelatedParties" id="aval_IfrsLoansAndLeasesReceivableRelatedParties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="LoanReceivableTerm" id="aval_LoanReceivableTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="InvestmentInterestRateSpreadOnVariableRate" id="aval_InvestmentInterestRateSpreadOnVariableRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DtfInterestRatePercentageOnOneYearProjection" id="aval_DtfInterestRatePercentageOnOneYearProjection" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="ReservesAndRetainedEarnings" id="aval_ReservesAndRetainedEarnings" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="RegulatoryCapitalDeductionsAbstract" id="aval_RegulatoryCapitalDeductionsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="GoodwillAndOtherIntangiblesDeductionsFromRegulatoryCapital" id="aval_GoodwillAndOtherIntangiblesDeductionsFromRegulatoryCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="DeferredTaxAssetsDeductionsFromRegulatoryCapital" id="aval_DeferredTaxAssetsDeductionsFromRegulatoryCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="OtherDeductionsFromRegulatoryCapital" id="aval_OtherDeductionsFromRegulatoryCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="CoreEquityTierOneCapital" id="aval_CoreEquityTierOneCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="OtherTierOneCapital" id="aval_OtherTierOneCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="TierOnePrimaryCapital" id="aval_TierOnePrimaryCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="OtherAdditionsDeductionsToTierOneCapital" id="aval_OtherAdditionsDeductionsToTierOneCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="TierTwoSecondaryCapital" id="aval_TierTwoSecondaryCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="OtherDeductionsFromTechnicalCapital" id="aval_OtherDeductionsFromTechnicalCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="TechnicalRegulatoryCapital" id="aval_TechnicalRegulatoryCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="RiskWeightedAssetsIncludingRegulatoryValueAtRiskAndOperationalRisk" id="aval_RiskWeightedAssetsIncludingRegulatoryValueAtRiskAndOperationalRisk" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="TierOneCapitalSolvencyRatio" id="aval_TierOneCapitalSolvencyRatio" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="TierTwoCapitalSolvencyRatio" id="aval_TierTwoCapitalSolvencyRatio" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="ValueOfStabilizationReserveDeductedFromSecondaryCapital" id="aval_ValueOfStabilizationReserveDeductedFromSecondaryCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="BankingServiceFees" id="aval_BankingServiceFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="DtfInterestRatePercentage" id="aval_DtfInterestRatePercentage" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DecreaseIncreaseInNetDefinedBenefitLiabilityAssetResultingFromDiscontinuedOperations" id="aval_DecreaseIncreaseInNetDefinedBenefitLiabilityAssetResultingFromDiscontinuedOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="PortOperatingCompaniesMember" id="aval_PortOperatingCompaniesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="SecuritiesIssuedOrSecuredByCentralBanksMember" id="aval_SecuritiesIssuedOrSecuredByCentralBanksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="InvestmentInDebtAtFvociSecuritiesPledgedAsCollateralTableTextBlock" id="aval_InvestmentInDebtAtFvociSecuritiesPledgedAsCollateralTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="InvestmentInDebtAtAmortizedCostSecuritiesPledgedAsCollateralTableTextBlock" id="aval_InvestmentInDebtAtAmortizedCostSecuritiesPledgedAsCollateralTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DisclosureOfEquitySecuritiesAtFairValueThroughOciTableTextBlock" id="aval_DisclosureOfEquitySecuritiesAtFairValueThroughOciTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="ScheduleOfConcentrationOfDepositsReceivedFromCustomersPerEconomicSectorTableTextBlock" id="aval_ScheduleOfConcentrationOfDepositsReceivedFromCustomersPerEconomicSectorTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="ScheduleOfInterbankBorrowingsOvernightFundsAndBorrowingsFromBanksAndOthersTableTextBlock" id="aval_ScheduleOfInterbankBorrowingsOvernightFundsAndBorrowingsFromBanksAndOthersTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryMember" id="aval_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="FinancialLiabilitiesAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember" id="aval_FinancialLiabilitiesAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="PercentageOfSharesSold" id="aval_PercentageOfSharesSold" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="NonControllingInterestShareOfEquity" id="aval_NonControllingInterestShareOfEquity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="IbrRateThreeMMember" id="aval_IbrRateThreeMMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="SofrRateThreeMMember" id="aval_SofrRateThreeMMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="OtherIncomeNet" id="aval_OtherIncomeNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="InsurancePayable" id="aval_InsurancePayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesAndContractAssetsForGovernmentAndCorporateCustomersMember" id="aval_OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesAndContractAssetsForGovernmentAndCorporateCustomersMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="IncreaseDecreaseThroughDeconsolidationOfEntitiesEquity" id="aval_IncreaseDecreaseThroughDeconsolidationOfEntitiesEquity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="EstudiosProyectosEInversionesDeLosAndesS.a.s.YSubsidiariasMember" id="aval_EstudiosProyectosEInversionesDeLosAndesS.a.s.YSubsidiariasMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="GasPipelinesMember" id="aval_GasPipelinesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="DecreaseThroughSaleFinancialAssets" id="aval_DecreaseThroughSaleFinancialAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="IncreaseDecreaseThroughGainOrLossOnPortfolioSaleFinancialAssets" id="aval_IncreaseDecreaseThroughGainOrLossOnPortfolioSaleFinancialAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="GradientMethodMember" id="aval_GradientMethodMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="ScheduleOfInterestExpensesTableTextBlock" id="aval_ScheduleOfInterestExpensesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="BankingServicesMember" id="aval_BankingServicesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="MerchantBankingMember" id="aval_MerchantBankingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="HoldingMember" id="aval_HoldingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="PensionAndSeveranceFundManagementMember" id="aval_PensionAndSeveranceFundManagementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="IfrsDeconsolidationGainLossAmount" id="aval_IfrsDeconsolidationGainLossAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="OtherComprehensiveIncomeNetOfTaxChangeInValueOfOtherAccountsReceivable" id="aval_OtherComprehensiveIncomeNetOfTaxChangeInValueOfOtherAccountsReceivable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="OtherAccountsReceivableMember" id="aval_OtherAccountsReceivableMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="ScheduleOfChangeInFairValueAndInterestExpensesOfHedgingInstrumentTableTextBlock" id="aval_ScheduleOfChangeInFairValueAndInterestExpensesOfHedgingInstrumentTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="CapitalizationAndPaymentsToAcquireConcessionArrangementRightClassifiedAsInvestingActivities" id="aval_CapitalizationAndPaymentsToAcquireConcessionArrangementRightClassifiedAsInvestingActivities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="ForeignCurrencyFinancialLiabilitiesMember" id="aval_ForeignCurrencyFinancialLiabilitiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="AllCountriesMember" id="aval_AllCountriesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="MultilateralCountriesMember" id="aval_MultilateralCountriesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="DecreaseThroughSaleOfImpairedLoansPortfolioCashFinancialAssets" id="aval_DecreaseThroughSaleOfImpairedLoansPortfolioCashFinancialAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="DecreaseThroughSaleOfImpairedLoansPortfolioLossAllowancesFinancialAssets" id="aval_DecreaseThroughSaleOfImpairedLoansPortfolioLossAllowancesFinancialAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="DecreaseThroughArrangementOfEntitiesIntangibleAssetsOtherThanGoodwill" id="aval_DecreaseThroughArrangementOfEntitiesIntangibleAssetsOtherThanGoodwill" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="DeferredTaxRate" id="aval_DeferredTaxRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="NexaBarbadosAndOtherSubsidiariesMember" id="aval_NexaBarbadosAndOtherSubsidiariesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="EntityLiquidation" id="aval_EntityLiquidation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="IncreaseThroughProvisionChargedToProfitOrLossFinancialAssets" id="aval_IncreaseThroughProvisionChargedToProfitOrLossFinancialAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="DecreaseThroughEntityDeconsolidationFinancialAssets" id="aval_DecreaseThroughEntityDeconsolidationFinancialAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="ApprovedCreditsNotDisbursedMember" id="aval_ApprovedCreditsNotDisbursedMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="CreditArrangementsMember" id="aval_CreditArrangementsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="SeparateBasisMember" id="aval_SeparateBasisMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="ConsolidatedBasisMember" id="aval_ConsolidatedBasisMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="SubordinatedInstruments" id="aval_SubordinatedInstruments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="MarketRisk" id="aval_MarketRisk" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="MarketRiskExposure" id="aval_MarketRiskExposure" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="OperationalRiskExposure" id="aval_OperationalRiskExposure" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="RegulatoryCapitalMeasure" id="aval_RegulatoryCapitalMeasure" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="RegulatoryExposureMeasure" id="aval_RegulatoryExposureMeasure" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="FinancialObligationsSimultaneousAndRepoOperations" id="aval_FinancialObligationsSimultaneousAndRepoOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="InterestRatePercentageOnOneYearProjection" id="aval_InterestRatePercentageOnOneYearProjection" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="ConcentrationRiskPercentageFinancialAssets" id="aval_ConcentrationRiskPercentageFinancialAssets" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="FinancialAssetsLoansLossAllowance" id="aval_FinancialAssetsLoansLossAllowance" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="FinancialAssetsLoansGrossCarryingAmount" id="aval_FinancialAssetsLoansGrossCarryingAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="DescriptionOfAccountingPolicyForLoansPolicyTextBlock" id="aval_DescriptionOfAccountingPolicyForLoansPolicyTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="FinancialAssetsLoansCollateralGuarantees" id="aval_FinancialAssetsLoansCollateralGuarantees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="AccruedInterestFinancialAssetsInConcessionArrangements" id="aval_AccruedInterestFinancialAssetsInConcessionArrangements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="InterestIncomeOnFinancialAssetsAtAmortisedCostLoans" id="aval_InterestIncomeOnFinancialAssetsAtAmortisedCostLoans" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryInternationalFinancialReportingStandards9Member" id="aval_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryInternationalFinancialReportingStandards9Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsHedgedItemCurrentAmountBeforeTax" id="aval_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsHedgedItemCurrentAmountBeforeTax" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsHedgingNonDerivativeInstrumentCurrentAmountBeforeTax" id="aval_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsHedgingNonDerivativeInstrumentCurrentAmountBeforeTax" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsHedgingDerivativeInstrumentCurrentAmountBeforeTax" id="aval_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsHedgingDerivativeInstrumentCurrentAmountBeforeTax" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="TaxValueUnit" id="aval_TaxValueUnit" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="ExplanationOfPeriodOverWhichManagementHasProjectedCashFlowsPeriod" id="aval_ExplanationOfPeriodOverWhichManagementHasProjectedCashFlowsPeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="CapitalizedExpenses" id="aval_CapitalizedExpenses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="OtherAccountsReceivableAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueAndAtAmortizedCostMember" id="aval_OtherAccountsReceivableAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueAndAtAmortizedCostMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="OtherAccountsReceivableAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueMember" id="aval_OtherAccountsReceivableAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesAndContractAssetsForGovernmentAndCorporateCustomersCorporateMember" id="aval_OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesAndContractAssetsForGovernmentAndCorporateCustomersCorporateMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesAndContractAssetsForGovernmentAndCorporateCustomersSovereignMember" id="aval_OtherAccountsReceivableGeneralApproachOtherAccountsReceivablesAndContractAssetsForGovernmentAndCorporateCustomersSovereignMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="AccountingSensitivityExerciseToVariationsInInterestRates100BasisPointIncreaseNetIncomeBeforeIncomeTaxExpenseIncreaseDecreaseAmount" id="aval_AccountingSensitivityExerciseToVariationsInInterestRates100BasisPointIncreaseNetIncomeBeforeIncomeTaxExpenseIncreaseDecreaseAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="AccountingSensitivityExerciseToVariationsInInterestRates100BasisPointIncreaseNetIncomeBeforeIncomeTaxExpenseIncreaseDecreasePercentage" id="aval_AccountingSensitivityExerciseToVariationsInInterestRates100BasisPointIncreaseNetIncomeBeforeIncomeTaxExpenseIncreaseDecreasePercentage" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="AccountingSensitivityExerciseToVariationsInInterestRates100BasisPointIncreaseOtherComprehensiveIncomeLossInEquityAmount" id="aval_AccountingSensitivityExerciseToVariationsInInterestRates100BasisPointIncreaseOtherComprehensiveIncomeLossInEquityAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="AccountingSensitivityExerciseToVariationsInInterestRatesBasisPointIncrease" id="aval_AccountingSensitivityExerciseToVariationsInInterestRatesBasisPointIncrease" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="InterestIncomeExpenseNetFromContinuingOperations" id="aval_InterestIncomeExpenseNetFromContinuingOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="CorporacionFinancieraColombianaMember" id="aval_CorporacionFinancieraColombianaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="DeferredTaxLiabilityAssetOffset" id="aval_DeferredTaxLiabilityAssetOffset" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="ProfitLossAttributableToNoncontrollingInterestAbstract" id="aval_ProfitLossAttributableToNoncontrollingInterestAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfInterestRateSwapContracts" id="aval_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfInterestRateSwapContracts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="PromigasUsaIncMember" id="aval_PromigasUsaIncMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="NominalAmountOfHedgedItem" id="aval_NominalAmountOfHedgedItem" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="NotionalAmountOfHedgingInstrument" id="aval_NotionalAmountOfHedgingInstrument" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="RestrictedInvestmentFundsRelatedToConcesionariaNuevaViaAlMarMember" id="aval_RestrictedInvestmentFundsRelatedToConcesionariaNuevaViaAlMarMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="RestrictedInvestmentFundsRelatedToConcesionariaVialDlPacificoMember" id="aval_RestrictedInvestmentFundsRelatedToConcesionariaVialDlPacificoMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="RestrictedInvestmentFundsRelatedToConcesionariaVialDelOrienteMember" id="aval_RestrictedInvestmentFundsRelatedToConcesionariaVialDelOrienteMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="TitularizadoraColombianaS.A.Member" id="aval_TitularizadoraColombianaS.A.Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="PrivateEquityFundPactiaInmobiliarioMember" id="aval_PrivateEquityFundPactiaInmobiliarioMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="RentekS.a.sMember" id="aval_RentekS.a.sMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="AvalFiduciariaS.aMember" id="aval_AvalFiduciariaS.aMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="AvalCasaDeBolsaS.aMember" id="aval_AvalCasaDeBolsaS.aMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="DisclosureOfImpactOnNetInterestMarginAndEconomicValueOfEquityUnderRegulatoryScenariosExplanatoryTableTextBlock" id="aval_DisclosureOfImpactOnNetInterestMarginAndEconomicValueOfEquityUnderRegulatoryScenariosExplanatoryTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="RegulatoryShockScenarioAxis" id="aval_RegulatoryShockScenarioAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="RegulatoryShockScenarioDomain" id="aval_RegulatoryShockScenarioDomain" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="ParallelUpwardShockMember" id="aval_ParallelUpwardShockMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="ParallelDownwardShockMember" id="aval_ParallelDownwardShockMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="SteepenerShockMember" id="aval_SteepenerShockMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="FlattenerShockMember" id="aval_FlattenerShockMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="ShortRatesUpwardShockMember" id="aval_ShortRatesUpwardShockMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="ShortRatesDownwardShockMember" id="aval_ShortRatesDownwardShockMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="IncreaseDecreaseInNetInterestMarginAndEconomicValueOfEquityUnderRegulatoryShockScenarios" id="aval_IncreaseDecreaseInNetInterestMarginAndEconomicValueOfEquityUnderRegulatoryShockScenarios" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="IndividualValueOfTaxValueUnit" id="aval_IndividualValueOfTaxValueUnit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="TemporarySecuritiesTransferOperations" id="aval_TemporarySecuritiesTransferOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="BorrowingsFromAndeanDevelopmentCorporation" id="aval_BorrowingsFromAndeanDevelopmentCorporation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="FinancialAndInsuranceActivitiesMember" id="aval_FinancialAndInsuranceActivitiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="MonthlyIndicatorOfEconomicActivityPercentageOneYearProjection" id="aval_MonthlyIndicatorOfEconomicActivityPercentageOneYearProjection" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="AssetsReceivedInTotalOrPartialSettlementOfPaymentObligationsOfDebtorsInOtherMovements" id="aval_AssetsReceivedInTotalOrPartialSettlementOfPaymentObligationsOfDebtorsInOtherMovements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="MaximumDeltaNetInterestMarginMetric" id="aval_MaximumDeltaNetInterestMarginMetric" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="MaximumDeltaEconomicValueOfEquityMetric" id="aval_MaximumDeltaEconomicValueOfEquityMetric" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="PercentageOfMaximumDeltaEconomicValueOfEquityOfSumOfOrdinaryBasicEquityAndAdditionalBasicEquity" id="aval_PercentageOfMaximumDeltaEconomicValueOfEquityOfSumOfOrdinaryBasicEquityAndAdditionalBasicEquity" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="ScheduleOfResultsOfDeltaEconomicValueOfEquityAndNetInterestMarginMeasurementsTableTextBlock" id="aval_ScheduleOfResultsOfDeltaEconomicValueOfEquityAndNetInterestMarginMeasurementsTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="UponCompanyHavingValidityOfLegalStabilityContractMember" id="aval_UponCompanyHavingValidityOfLegalStabilityContractMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="StabilizationReservesMember" id="aval_StabilizationReservesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="TransitionPeriodToComplyWithSystemicBuffer" id="aval_TransitionPeriodToComplyWithSystemicBuffer" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="SensitivityAnalysisPercentageOfValuationSample" id="aval_SensitivityAnalysisPercentageOfValuationSample" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="PercentageOfParticipationInSubsidiaryForWhichValuationSampleIsCalculated" id="aval_PercentageOfParticipationInSubsidiaryForWhichValuationSampleIsCalculated" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="PercentageOfOrdinaryBasicEquityAndAdditionalBasicEquityOnWhichShockScenariosAreCalculated" id="aval_PercentageOfOrdinaryBasicEquityAndAdditionalBasicEquityOnWhichShockScenariosAreCalculated" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="DeferredIncomeTaxRelatingToHedgingOfNonDerivativeInstrumentsOfOtherComprehensiveIncome" id="aval_DeferredIncomeTaxRelatingToHedgingOfNonDerivativeInstrumentsOfOtherComprehensiveIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="BiologicalAssetsMember" id="aval_BiologicalAssetsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="HedgingInstrumentsMember" id="aval_HedgingInstrumentsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="ValoraSaMember" id="aval_ValoraSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="NoncontrollingInterestsOwnershipInterestsSharesAcquired" id="aval_NoncontrollingInterestsOwnershipInterestsSharesAcquired" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="PromigasSaEspAndSubsidiariesMember" id="aval_PromigasSaEspAndSubsidiariesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="MegalineaSaMember" id="aval_MegalineaSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="ProyectosYDesarrollosVialesDelPacificoSasMember" id="aval_ProyectosYDesarrollosVialesDelPacificoSasMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="AportesEnLineaSaMember" id="aval_AportesEnLineaSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="OtherMovablePropertyMember" id="aval_OtherMovablePropertyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="IfrsResidentialRealEstateMember" id="aval_IfrsResidentialRealEstateMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="LossFromSaleOfPropertyPlantAndEquipment" id="aval_LossFromSaleOfPropertyPlantAndEquipment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="DisclosureOfOtherIncomeTableTextBlock" id="aval_DisclosureOfOtherIncomeTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DisclosureOfOtherExpenseTableTextBlock" id="aval_DisclosureOfOtherExpenseTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="EnergyAndGasConcessionArrangementMember" id="aval_EnergyAndGasConcessionArrangementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="BorrowingsAndOvernightFunds" id="aval_BorrowingsAndOvernightFunds" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="BorrowingsFromBanksAndOthersDevelopmentEntities" id="aval_BorrowingsFromBanksAndOthersDevelopmentEntities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="BorrowingsFromBanksAndOthersNoncurrent" id="aval_BorrowingsFromBanksAndOthersNoncurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="BorrowingsFromBanksAndOthersNoncurrentDevelopmentEntities" id="aval_BorrowingsFromBanksAndOthersNoncurrentDevelopmentEntities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="FinancieraDeDesarrolloTerritorialFindeterMember" id="aval_FinancieraDeDesarrolloTerritorialFindeterMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="FondoParaElFinanciamientoDelSectorAgropecuarioFinagroMember" id="aval_FondoParaElFinanciamientoDelSectorAgropecuarioFinagroMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="BancoDeComercioExteriorBancoldexMember" id="aval_BancoDeComercioExteriorBancoldexMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="BancoDeBogotaSaAndMultiFinancialGroupIncMember" id="aval_BancoDeBogotaSaAndMultiFinancialGroupIncMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="ReserveRequirementDomesticCountryOnePercentReductionReserveRatioPercentageCheckingAndSavingsAccountsBeforeReduction" id="aval_ReserveRequirementDomesticCountryOnePercentReductionReserveRatioPercentageCheckingAndSavingsAccountsBeforeReduction" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="ReserveRequirementDomesticCountryOnePercentReductionReserveRatioPercentageCheckingAndSavingsAccountsAfterReduction" id="aval_ReserveRequirementDomesticCountryOnePercentReductionReserveRatioPercentageCheckingAndSavingsAccountsAfterReduction" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="ReserveRequirementDomesticCountryOnePercentReductionReserveRatioPercentageTimeDepositsBeforeReduction" id="aval_ReserveRequirementDomesticCountryOnePercentReductionReserveRatioPercentageTimeDepositsBeforeReduction" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="ReserveRequirementDomesticCountryOnePercentReductionReserveRatioPercentageTimeDepositsAfterReduction" id="aval_ReserveRequirementDomesticCountryOnePercentReductionReserveRatioPercentageTimeDepositsAfterReduction" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="CustomerDepositsEffectiveInterestRateInterestBearingCheckingAccounts" id="aval_CustomerDepositsEffectiveInterestRateInterestBearingCheckingAccounts" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="CustomerDepositsEffectiveInterestRateSavingsAccounts" id="aval_CustomerDepositsEffectiveInterestRateSavingsAccounts" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="CustomerDepositsEffectiveInterestRateFixedTermDepositCertificates" id="aval_CustomerDepositsEffectiveInterestRateFixedTermDepositCertificates" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="PresumptiveIncomeNonRecoverableForIncomeTaxPurposes" id="aval_PresumptiveIncomeNonRecoverableForIncomeTaxPurposes" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="AdjustedDiscountedCashFlowDiscountInterestRatesOneMember" id="aval_AdjustedDiscountedCashFlowDiscountInterestRatesOneMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="AdjustedDiscountedCashFlowDiscountInterestRatesTwoMember" id="aval_AdjustedDiscountedCashFlowDiscountInterestRatesTwoMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="HoldingBursatilRegionalSaMember" id="aval_HoldingBursatilRegionalSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="GrupoEnergiaBogotaSaEspMember" id="aval_GrupoEnergiaBogotaSaEspMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableIncreaseMarketValue" id="aval_Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableIncreaseMarketValue" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableIncreaseMarketIncome" id="aval_Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableIncreaseMarketIncome" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableIncreaseInitialCapitalizationRate" id="aval_Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableIncreaseInitialCapitalizationRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableIncreaseCashFlowRate" id="aval_Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableIncreaseCashFlowRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableDecreaseMarketValue" id="aval_Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableDecreaseMarketValue" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableDecreaseMarketIncome" id="aval_Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableDecreaseMarketIncome" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableDecreaseInitialCapitalizationRate" id="aval_Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableDecreaseInitialCapitalizationRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableDecreaseCashFlowRate" id="aval_Level3OfFairValueHierarchyValuationOfEquityInstrumentsThroughProfitOrLossSensitivityAnalysisVariableDecreaseCashFlowRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="DisclosureOfFairValueMeasurementOfAssetsAndLiabilitiesRecurringBasisTableTextBlock" id="aval_DisclosureOfFairValueMeasurementOfAssetsAndLiabilitiesRecurringBasisTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DisclosureOfFairValueMeasurementOfAssetsAndLiabilitiesNonrecurringBasisTableTextBlock" id="aval_DisclosureOfFairValueMeasurementOfAssetsAndLiabilitiesNonrecurringBasisTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="InterestIncomeOnCashAndCashEquivalentsAndOtherAccountReceivables" id="aval_InterestIncomeOnCashAndCashEquivalentsAndOtherAccountReceivables" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="IncreaseDecreaseThroughChangeInRetainedEarningsEquity" id="aval_IncreaseDecreaseThroughChangeInRetainedEarningsEquity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="CommercialInterbankAndOvernightFunds" id="aval_CommercialInterbankAndOvernightFunds" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="CashAndCashEquivalentsInNoncurrentAssetsClassifiedAsHeldForSale" id="aval_CashAndCashEquivalentsInNoncurrentAssetsClassifiedAsHeldForSale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="FiduciaryAssignmentsMember" id="aval_FiduciaryAssignmentsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="InterestRateSwapLinkedToOvernightIbrOnSavingsAccountsMember" id="aval_InterestRateSwapLinkedToOvernightIbrOnSavingsAccountsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="InterestRateSwapLinkedToQuarterlyIbrOnMoneyMarketTransactionsMember" id="aval_InterestRateSwapLinkedToQuarterlyIbrOnMoneyMarketTransactionsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="CashAndCashEquivalentsChecksInClearingMember" id="aval_CashAndCashEquivalentsChecksInClearingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="IncreaseDecreaseThroughTerminationOfContractsIntangibleAssetsOtherThanGoodwill" id="aval_IncreaseDecreaseThroughTerminationOfContractsIntangibleAssetsOtherThanGoodwill" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="DiscontinuedOperationNumberOfSharesDisposed" id="aval_DiscontinuedOperationNumberOfSharesDisposed" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="DisposalGroupEffectOfIntraGroupTransaction" id="aval_DisposalGroupEffectOfIntraGroupTransaction" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="InterestIncomeOnOtherAccountReceivables" id="aval_InterestIncomeOnOtherAccountReceivables" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="MonthlyIndicatorOfEconomicActivityPercentage" id="aval_MonthlyIndicatorOfEconomicActivityPercentage" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="StatementOfComprehensiveIncomeTable" id="aval_StatementOfComprehensiveIncomeTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="StatementOfComprehensiveIncomeLineItems" id="aval_StatementOfComprehensiveIncomeLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="LevelThreeToTwoMember" id="aval_LevelThreeToTwoMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="CommissionsAndFeesFromBondedWarehouseServices" id="aval_CommissionsAndFeesFromBondedWarehouseServices" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="TransfersIntoOutOfLevel3OfFairValueHierarchyAssets" id="aval_TransfersIntoOutOfLevel3OfFairValueHierarchyAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="ReclassificationFairValueMeasurementAssets" id="aval_ReclassificationFairValueMeasurementAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="TrmVariationWithinOneYear" id="aval_TrmVariationWithinOneYear" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="SignificantEventsAbstract" id="aval_SignificantEventsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="DisclosureOfSignificantEventsTextBlock" id="aval_DisclosureOfSignificantEventsTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="RenewableEnergyContractualCapacity" id="aval_RenewableEnergyContractualCapacity" type="dtr-types:powerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="RenewableEnergyPotentialCapacity" id="aval_RenewableEnergyPotentialCapacity" type="dtr-types:powerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="RetailBankingClientsTransferred" id="aval_RetailBankingClientsTransferred" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="TemporaryServicesExpense" id="aval_TemporaryServicesExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="DerecognitionOfAssetsExpense" id="aval_DerecognitionOfAssetsExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="DisclosureOfEffectsInRetainedEarningsTableTextBlock" id="aval_DisclosureOfEffectsInRetainedEarningsTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DisclosureOfEquityTransactionWithMinorityShareholdersTableTextBlock" id="aval_DisclosureOfEquityTransactionWithMinorityShareholdersTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="DividendsPaidOnPreferredSharesToNonControllingInterests" id="aval_DividendsPaidOnPreferredSharesToNonControllingInterests" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="OtherSubsidiariesMember" id="aval_OtherSubsidiariesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="GrossMonetaryEffectsInRetainedEarningsBetweenControllingAndNonControllingInterests" id="aval_GrossMonetaryEffectsInRetainedEarningsBetweenControllingAndNonControllingInterests" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="RealizationsEffectsOfOtherComprehensiveIncome" id="aval_RealizationsEffectsOfOtherComprehensiveIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="OtherComprehensiveReclassificationOnSaleEquityInstrument" id="aval_OtherComprehensiveReclassificationOnSaleEquityInstrument" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="ConcessionEstimatedInvestment" id="aval_ConcessionEstimatedInvestment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="ConcessionInvestmentConstructionPeriod" id="aval_ConcessionInvestmentConstructionPeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="SharesIssuedForSpinOffValue" id="aval_SharesIssuedForSpinOffValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="AociRelatedToHedgedItemsMember" id="aval_AociRelatedToHedgedItemsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="AociRelatedToHedgingDerivativeInstrumentMember" id="aval_AociRelatedToHedgingDerivativeInstrumentMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="AociRelatedToHedgingNonDerivativeInstrumentMember" id="aval_AociRelatedToHedgingNonDerivativeInstrumentMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="AociRelatedToTransferFromOwnerOccupiedPropertyToInvestmentPropertyMember" id="aval_AociRelatedToTransferFromOwnerOccupiedPropertyToInvestmentPropertyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="OtherLiabilitiesTransactionsGouPaymentsAch" id="aval_OtherLiabilitiesTransactionsGouPaymentsAch" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="CashSurplusOtherLiabilities" id="aval_CashSurplusOtherLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="RevenueFromInterestOnLoansCashAndCashEquivalentsAndOtherAccounts" id="aval_RevenueFromInterestOnLoansCashAndCashEquivalentsAndOtherAccounts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="InterestExpenseHedgingDerivativeOnSavingsAccounts" id="aval_InterestExpenseHedgingDerivativeOnSavingsAccounts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="InterestExpenseHedgingDerivativeOnTimeDeposits" id="aval_InterestExpenseHedgingDerivativeOnTimeDeposits" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="InterestExpenseHedgingDerivativeOnBankBorrowings" id="aval_InterestExpenseHedgingDerivativeOnBankBorrowings" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="IncreaseDecreaseThroughDisposalsHeldForSalesNetDefinedBenefitLiabilityAsset" id="aval_IncreaseDecreaseThroughDisposalsHeldForSalesNetDefinedBenefitLiabilityAsset" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="OwnUsePropertiesMember" id="aval_OwnUsePropertiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="TrmVariationYearOverYear" id="aval_TrmVariationYearOverYear" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="IncreaseDecreaseInFinancialLiabilitiesDisposalGroupDiscontinuedOperation" id="aval_IncreaseDecreaseInFinancialLiabilitiesDisposalGroupDiscontinuedOperation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="IncreaseDecreaseInLiabilitiesDisposalGroupDiscontinuedOperation" id="aval_IncreaseDecreaseInLiabilitiesDisposalGroupDiscontinuedOperation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="IncreaseDecreaseThroughTransfersFromOtherAccountsReceivableForConcessionContractsAndIntangibleAssets" id="aval_IncreaseDecreaseThroughTransfersFromOtherAccountsReceivableForConcessionContractsAndIntangibleAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="ConcessionsUnderConstruction" id="aval_ConcessionsUnderConstruction" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="BancoDeBogotConsolidatedMember" id="aval_BancoDeBogotConsolidatedMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="BancoDeOccidenteConsolidatedMember" id="aval_BancoDeOccidenteConsolidatedMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="FinancialDerivativesMember" id="aval_FinancialDerivativesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="MarketableDerivativesMember" id="aval_MarketableDerivativesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="NonCashItemsInvestingAndFinancingActivitiesAdditionsOfPropertiesByRightOfUse" id="aval_NonCashItemsInvestingAndFinancingActivitiesAdditionsOfPropertiesByRightOfUse" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="NonCashItemsInvestingAndFinancingActivitiesAdditionsOfGoodsReceivedInPayment" id="aval_NonCashItemsInvestingAndFinancingActivitiesAdditionsOfGoodsReceivedInPayment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="NonCashItemsInvestingAndFinancingActivitiesLeasebackTransactions" id="aval_NonCashItemsInvestingAndFinancingActivitiesLeasebackTransactions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="NonCashItemsInvestingAndFinancingActivitiesReclassificationOfFinancialAssetsToOwnerOccupiedProperties" id="aval_NonCashItemsInvestingAndFinancingActivitiesReclassificationOfFinancialAssetsToOwnerOccupiedProperties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="NonCashItemsInvestmentAndFinancingActivities" id="aval_NonCashItemsInvestmentAndFinancingActivities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="DisclosureOfNonCashItemsInvestingAndFinancingActivitiesTableTextBlock" id="aval_DisclosureOfNonCashItemsInvestingAndFinancingActivitiesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="CurrentRestrictedCashAndCashEquivalentsForLandAcquisitionAndExecutionOfNetworkWork" id="aval_CurrentRestrictedCashAndCashEquivalentsForLandAcquisitionAndExecutionOfNetworkWork" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="ApplicableTaxRateDecree1474" id="aval_ApplicableTaxRateDecree1474" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="ZelestraCorporacionSauMember" id="aval_ZelestraCorporacionSauMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="BancoItauColombiaSaAndBancoItauPanamaRetailBankingBusinessMember" id="aval_BancoItauColombiaSaAndBancoItauPanamaRetailBankingBusinessMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="SenciaSasMember" id="aval_SenciaSasMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="AssetsTotalRecognisedAsOfAcquisitionDate" id="aval_AssetsTotalRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="NetIdentifiableAssetsAcquiredLiabilitiesAssumedBookValue" id="aval_NetIdentifiableAssetsAcquiredLiabilitiesAssumedBookValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="ConcessionEstimatedTerm" id="aval_ConcessionEstimatedTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="PartialSpinOffMember" id="aval_PartialSpinOffMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="TotalSovereignRiskPercent" id="aval_TotalSovereignRiskPercent" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="EmployeeBenefitsLiabilityMember" id="aval_EmployeeBenefitsLiabilityMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="InterestIncomeCalculatedUsingEffectiveInterestMethodAbstract" id="aval_InterestIncomeCalculatedUsingEffectiveInterestMethodAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="DividendsRecognisedAsDistributionsToOwnersFinancingActivities" id="aval_DividendsRecognisedAsDistributionsToOwnersFinancingActivities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="NonCurrentAssetsHeldForSaleTransactionPrice" id="aval_NonCurrentAssetsHeldForSaleTransactionPrice" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="WealthTaxEstimatedLiability" id="aval_WealthTaxEstimatedLiability" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="SystemicImportanceBufferPercentage" id="aval_SystemicImportanceBufferPercentage" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="SociedadAdministradoraDeFondosDePensionesCesantiasYDelCcaiPorvenirSaMember" id="aval_SociedadAdministradoraDeFondosDePensionesCesantiasYDelCcaiPorvenirSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="AvalBancaDeInversionSasMember" id="aval_AvalBancaDeInversionSasMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAssetsOfDisposalGroup" id="aval_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAssetsOfDisposalGroup" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="CreditCardFees" id="aval_CreditCardFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="NonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAssetsHeldForSale" id="aval_NonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAssetsHeldForSale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="IncreaseDecreaseOfNonCurrentAssetsHeldForSaleAssetsOfDisposalGroupClassifiedAsHeldForSale" id="aval_IncreaseDecreaseOfNonCurrentAssetsHeldForSaleAssetsOfDisposalGroupClassifiedAsHeldForSale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="AssociatedLiabilitiesToAssetsHeldForSaleOtherAccountsPayable" id="aval_AssociatedLiabilitiesToAssetsHeldForSaleOtherAccountsPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="AssociatedLiabilitiesToAssetsHeldForSale" id="aval_AssociatedLiabilitiesToAssetsHeldForSale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="IndicadorDeRiesgoDeLiquidezRatioCurrency" id="aval_IndicadorDeRiesgoDeLiquidezRatioCurrency" type="xbrli:pureItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="IndicadorDeRiesgoDeLiquidezRatioPercentage" id="aval_IndicadorDeRiesgoDeLiquidezRatioPercentage" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="DisclosureOfInformationAboutInterbankBorrowingsAndOvernightFundsAbstract" id="aval_DisclosureOfInformationAboutInterbankBorrowingsAndOvernightFundsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="DisclosureOfInformationAboutBorrowingsFromBanksAndOthersAbstract" id="aval_DisclosureOfInformationAboutBorrowingsFromBanksAndOthersAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="DisclosureOfFinancialObligationsFromIssuedBondsAbstract" id="aval_DisclosureOfFinancialObligationsFromIssuedBondsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="InterestExpenseOnInterbankBorrowingsAndOvernightFunds" id="aval_InterestExpenseOnInterbankBorrowingsAndOvernightFunds" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="OtherAccountsReceivableAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueAndAtAmortizedCostContractAssetsServiceConcessionArrangementsMember" id="aval_OtherAccountsReceivableAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueAndAtAmortizedCostContractAssetsServiceConcessionArrangementsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="OtherAccountsReceivableAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueAndAtAmortizedCostContractAssetsOtherAccountsReceivableMember" id="aval_OtherAccountsReceivableAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueAndAtAmortizedCostContractAssetsOtherAccountsReceivableMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="DecreaseInIntangibleAssetsOtherThanGoodwillDiscontinuedOperations" id="aval_DecreaseInIntangibleAssetsOtherThanGoodwillDiscontinuedOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwillPropertyPlantAndEquipment" id="aval_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwillPropertyPlantAndEquipment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwillOtherIntangibleAssets" id="aval_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwillOtherIntangibleAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwillOtherAccountsReceivableForConcessionContracts" id="aval_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwillOtherAccountsReceivableForConcessionContracts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="IncreaseDecreaseThroughTransfersFromOtherAccountsReceivableForConcessionContractsAndIntangibleAssetsFinancialAssets" id="aval_IncreaseDecreaseThroughTransfersFromOtherAccountsReceivableForConcessionContractsAndIntangibleAssetsFinancialAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="IncreaseDecreaseThroughTransfersFromOtherAccountsReceivableForConcessionContractsAndIntangibleAssetsIntangibleAssetsConcessions" id="aval_IncreaseDecreaseThroughTransfersFromOtherAccountsReceivableForConcessionContractsAndIntangibleAssetsIntangibleAssetsConcessions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="NonCurrentAssetsHeldForSaleAssetsAndLiabilitiesNet" id="aval_NonCurrentAssetsHeldForSaleAssetsAndLiabilitiesNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="LiabilitiesOfDisposalGroupsClassifiedAsHeldForSaleEffectsOfIntragroupTransactions" id="aval_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSaleEffectsOfIntragroupTransactions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="NonCurrentAssetsHeldForSaleAssetsAndLiabilitiesNetCarryingAmount" id="aval_NonCurrentAssetsHeldForSaleAssetsAndLiabilitiesNetCarryingAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="AdministrativeTaxProceedingsAndOtherProceedingsMember" id="aval_AdministrativeTaxProceedingsAndOtherProceedingsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="IncomeTaxExpenseIncomeContinuingOperationsAndDiscontinuedOperations" id="aval_IncomeTaxExpenseIncomeContinuingOperationsAndDiscontinuedOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="ContinuingAndDiscontinuedOperationsContinuingOperationsMember" id="aval_ContinuingAndDiscontinuedOperationsContinuingOperationsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="GrupoAvalSaMember" id="aval_GrupoAvalSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="IncreaseDecreaseThroughOtherComprehensiveIncomeExcludingRealisationOfOtherComprehensiveIncomeEquity" id="aval_IncreaseDecreaseThroughOtherComprehensiveIncomeExcludingRealisationOfOtherComprehensiveIncomeEquity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="IncreaseDecreaseThroughOtherComprehensiveIncomeRealisationOfOtherComprehensiveIncomeEquity" id="aval_IncreaseDecreaseThroughOtherComprehensiveIncomeRealisationOfOtherComprehensiveIncomeEquity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="IncreaseDecreaseThroughOtherComprehensiveIncomeIncludingDiscontinuedOperationsEquity" id="aval_IncreaseDecreaseThroughOtherComprehensiveIncomeIncludingDiscontinuedOperationsEquity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit" />
  <xsd:element name="ImpairmentLossRecovery" id="aval_ImpairmentLossRecovery" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit" />
  <xsd:element name="LiabilitiesTotalRecognisedAsOfAcquisitionDate" id="aval_LiabilitiesTotalRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit" />
  <xsd:element name="WealthTaxTaxValueUnit" id="aval_WealthTaxTaxValueUnit" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" />
  <xsd:element name="ApplicableTaxRateWealthTaxFinancialAndExtractiveEntities" id="aval_ApplicableTaxRateWealthTaxFinancialAndExtractiveEntities" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="ApplicableTaxRateWealthTaxAllOtherEntitiesExcludingFinancialAndExtractiveEntities" id="aval_ApplicableTaxRateWealthTaxAllOtherEntitiesExcludingFinancialAndExtractiveEntities" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" />
  <xsd:element name="StatementOfCashFlowsDiscontinuedOperationAbstract" id="aval_StatementOfCashFlowsDiscontinuedOperationAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="AvalFiduciariaSaAndAvalCasaDeBolsaSaMember" id="aval_AvalFiduciariaSaAndAvalCasaDeBolsaSaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="NonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAssetsOfDisposalGroupHeldForSale" id="aval_NonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAssetsOfDisposalGroupHeldForSale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
  <xsd:element name="AssetsReceivedFromLeasingAgreementsMember" id="aval_AssetsReceivedFromLeasingAgreementsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="NonCurrentAssetsHeldForSaleOtherMember" id="aval_NonCurrentAssetsHeldForSaleOtherMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true" />
  <xsd:element name="NonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAssetsOfDisposalGroupHeldForSaleNonCurrentAssetsHeldForSale" id="aval_NonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAssetsOfDisposalGroupHeldForSaleNonCurrentAssetsHeldForSale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit" />
</xsd:schema>
