History

Banco de Bogotá was established on November 15, 1870, as the first bank in Colombia. Its capital was $500,000. It was authorized to issue its own banknotes. The founding Chief Executive was Salomon Koppel.

In 1938, the Bank pioneered the warehouse receipts of financing in Colombia, with the incorporation of ALMAVIVA S.A.

In 1945, the Bank celebrated its 75th birthday with the issue of 153,000 shares and by 1947 served its customers from 105 branches.

A new Head Office Building was inaugurated in 1959. In that same year, its investment banking arm, Corporacion Financiera Colombiana (CFC), was incorporated as the vehicle for investments in large and medium size businesses.

By 1967, the Bank had 214 offices, and had set up an office in Panama - the first Colombian bank to operate outside the country. The office was made into an independent subsidiary in 1970.

In April 1968, Banco de Bogotá merged with Banco de los Andes, and the following year it organized the Credibanco credit card system under a franchise from Bank of America.

When celebrating its 100th birthday in November 1970, Banco de Bogotá was Colombia´s leading bank.

In 1974, Banco de Bogotá opened an office in New York, and three years later incorporated Banco de Bogotá Trust Company, later First Bank of the Americas.

In 1977, the Directors approved an investment in the Panamá-based international export promotion bank BLADEX.

In 1978, Banco de Bogotá Nassau Ltd was incorporated in the Bahamas, as a subsidiary of Banco de Bogotá Panamá S:A.; and in 1980 Banco de Bogotá International Corporation started business in Miami.

In 1984, the Bank went through an image-enhancing program to emphasize its professionalism, efficiency, soundness, dynamism and prestige.

In 1987, the Bank became part of the Organizaciòn Luis Carlos Sarmiento Angulo Group to underpin its future development in the banking sector.

In 1991, the Bank acquired 76% of Banco del Comercio and then, in December 1992 the two banks merged, bringing new subsidiaries into the group: the brokerage firm Cia. De Bolsa del Comercio (now Valores Bogotá S.A.) and the trust company Fiducomercio; there was also a bank (Banco del Comercio, Panamá) which was later turned into a leasing company, now known as Leasing Bogotá S.A. Panama.

In 1997, the Bank sold its investment in First Bank of the Americas to Commercial Bank of New York.

At the end of 1998 the Bank bought 24.95% of a finance company CORFIANDES, and CFC bought 98.98% of another finance company CORFISANTANDER. In February of that year, it merged with INDUFINANCIERA, and a month later with CORFIANDES and CORFISANTANDER.

In 1998, the Bank acquired 27.87% of LAS VILLAS savings and loan operation, which was then merged with another such operation AHORRAMAS in 2000 and continued trading under the name AV VILLAS.

In June 2001, the US Federal Reserve approved an application to make Banco de Bogotá International Corporation into an Agency for operations in Florida, and the conversion was completed later that year. Banco de Bogotá was effectively the sole owner of Banco de Bogotá International Corporation, through BanBogotá Inc.

On June 21 2006, the Bank acquired 94.99%of Megabanco in order to implement a policy of penetration of low-income markets. This acquisition had a strategic and a social purpose in national economic and social consolidation program. The merger was made official on November 7, 2006. On June 19, 2007, the authorities accepted the Bank´s application for the merger of Fiducomercio and Fidubogota (Letter 931) and the operation was made official on June 29.

Currently, Banco de Bogotá resides in all of Colombia and continues to expand its international operations with its affiliates and agencies abroad – Panama, Nassau, Miami and New York. Additionally, it has branched out to 7 countries in Central America through the partnership with BAC Credomatic, and expands its customers' business options with numerous supporting banks around the world.

Additionally, it has a full range of products and services available on the websites of its Agencies and Affiliates at www.bancodebogotainternacional.com and of Colombia at www.bancodebogota.com.co