Grupo Cibest S.A. · CIB · FY2025 Q2 · Calendar Q3 2025
Grupo Cibest: Strong Q2, Digital Scale, and Macro Risks
The current call provides evidence for a constructive but conditional outlook: strong profitability, low-cost deposits, regional diversification, and scaling digital platforms support growth, while revised full-year expectations and macro, political, and credit risks argue against an unqualified thesis.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Compared with the prior-quarter analysis, the current call showed stronger reported profitability and digital traction, a formalized share-repurchase target, and a revised full-year outlook. Management also brought the expected Nequi breakeven timing forward to late 2025 or early 2026.
Guidance delta
Management maintained a confident tone while revising full-year expectations to modest loan growth, a 6.3% NIM, 16% ROE, and 1.6%–1.8% cost of risk.
Key takeaways
- Q2 performance was solid, with 17.5% ROE, 6.6% NIM, low funding costs, and improving asset quality.
- Nequi, Wompi, and Wenia continued to scale; Nequi’s loan book was reported at 4.7 times its earlier level.
- The Grupo Cibest structure is intended to support capital allocation and organic or inorganic growth.
- The investment case remains balanced between digital and regional growth and Colombia’s macro, fiscal, political, and credit risks.
Management priorities
- Continue share repurchases toward the COP 1.3 trillion target
- Reach Nequi net-income breakeven by late 2025 or early 2026
- Scale digital ecosystems while preserving capital strength and supporting loan growth
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Analyst 52W Price Targets
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 7, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Neutral | Overweight | Downgrade | Sep 16, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Aug 13, 2026 |
| B of A Securities | Neutral | Underperform | Upgrade | Jun 1, 2026 |
| UBS | Neutral | Neutral | Maintain | Apr 23, 2026 |
| Itau BBA | Underperform | Market Perform | Downgrade | Feb 26, 2026 |
| Citigroup | Neutral | Buy | Downgrade | Jan 22, 2026 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | Jan 28, 2025 |
| Credit Suisse | Outperform | Neutral | Upgrade | Aug 2, 2022 |
| HSBC | Buy | Hold | Upgrade | Feb 26, 2020 |
| Santander | Underperform | Hold | Downgrade | Nov 19, 2018 |
| Standpoint Research | Accumulate | Hold | Upgrade | Mar 7, 2018 |
| Deutsche Bank | Buy | Hold | Upgrade | Aug 22, 2016 |
| Barclays | Underweight | Underweight | Maintain | Mar 24, 2016 |
| Bank of America | Neutral | Buy | Downgrade | Mar 14, 2016 |
| BTG Pactual | Buy | Buy | Maintain | Feb 4, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $96.54. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Goldman Sachs | Analyst unavailable | $110 | $95.79 | +13.9% | Aug 13, 2026 |
| RBC Capital | Analyst unavailable | $110 | $91.47 | +13.9% | Aug 11, 2026 |
| Goldman Sachs | Analyst unavailable | $98 | $87.93 | +1.5% | Jul 28, 2026 |
| UBS | Analyst unavailable | $72 | $73.65 | -25.4% | Apr 23, 2026 |
| Goldman Sachs | Analyst unavailable | $69 | $70.92 | -28.5% | Jan 13, 2026 |
| Banco Santander | Andres Soto | $61 | $61.83 | -36.8% | Dec 17, 2025 |
| Bank of America Securities | Ernesto Gabilondo | $34 | $33.12 | -64.8% | Aug 29, 2024 |
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Start freeCompany context
Snapshot as of publicationGrupo Cibest SA functions as an investment holding enterprise, with its headquarters situated in Medellin, Colombia.
Historical context
All CIB earningsFinancial Services peers this season
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| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-06T23:00:44.776880+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-06T23:00:44.773864+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-06. For educational purposes only; not investment advice.