[6-K] Grupo Cibest S.A. American Current Report (Foreign Issuer)

Rhea-AI Filing Summary

Grupo Cibest (NYSE:CIB) reported strong 2Q25 unaudited results. Net income attributable to shareholders reached COP 1.8 trn (+3.1% QoQ; +24.4% YoY), lifting quarterly ROE to 17.5% and LTM ROE to 16.1%. Net interest income rose 3.2% QoQ to COP 5.2 trn, as the consolidated NIM widened 14 bp to 6.57% on higher loan yields and better securities returns.

Business volumes stayed healthy. The gross loan book expanded to COP 280 trn (+0.4% QoQ; +4.4% YoY) with mortgages and consumer credit leading, while deposits climbed to COP 283 trn (+2.4% QoQ; +9.6% YoY). Asset quality improved marginally: 30-day PDL fell to 4.54% and cost of risk held at 1.57%, though reserve coverage eased to 107.7%.

Operating expenses grew 5.7% QoQ (11.8% YoY), pushing the efficiency ratio to 50.7%. Shareholders’ equity rose to COP 41.3 trn (+1.6% QoQ) and the group finished May’s corporate reorganization, establishing Cibest as holding company. Digital traction continued with 9.4 m active APP Personas users and 25.5 m Nequi accounts.

Positive

• Net income surged 24.4% YoY to COP 1.8 trn, boosting ROE to 17.5%.
• NIM expanded 14 bp QoQ to 6.57%, reversing prior compression.
• Loan book and deposits grew 4.4% and 9.6% YoY respectively, signalling solid franchise momentum.
• Provision charges fell 0.3% QoQ; cost of risk contained at 1.57%.
• Digital users reached 9.4 m and Nequi accounts 25.5 m, enhancing low-cost funding and fee potential.
• Corporate restructuring completed, creating holding flexibility and potential capital optimisation.

Negative

• Operating expenses rose 11.8% YoY, pushing the efficiency ratio to 50.7%.
• Reserve coverage declined to 107.7%, reducing buffer against asset-quality shocks.
• Net interest income still down 0.5% YoY despite QoQ rebound.
• Funding cost increased; weighted deposit rate up 9 bp QoQ to 4.18%.
• NIM remains 48 bp below 2Q24, reflecting structural margin pressure.

Insights

Financial Analyst

TL;DR – Earnings up, NIM expands; cost discipline lags.

Profitability: 2Q25 net income of COP 1.8 trn beat YoY comps by 24%, driven by higher spread revenue and fee growth. NIM rose 14 bp QoQ, reversing prior compression.
Balance-sheet momentum: Loans +4.4% YoY; deposits +9.6% YoY keep loan-to-deposit ratio conservative. Equity growth supports CET1 and solvency (total 13.5%).
Asset quality: PDL ratios ticked lower; cost of risk subdued. Coverage slipped 350 bp to 107.7%—worth monitoring but not yet alarming.
Efficiency: Opex inflation (+11.8% YoY) lifted the efficiency ratio above 50%, diluting operating leverage.
Outlook: Higher digital penetration and completed holding-company restructuring should enhance cross-selling and capital flexibility. Rising funding costs and expense creep remain key risks.

Risk Analyst

TL;DR – Credit risk stabilising; expense and coverage pressure linger.

PDL improvement (4.54% vs. 4.64%) and lower provision charges indicate stabilising credit quality across portfolios, aided by consumer recovery and mortgage rate cuts. Yet reserve coverage fell below 110% and Stage 3 loans still represent 64.6% of allocated allowances, suggesting limited buffer if macro headwinds intensify. Funding mix remains favourable (53.5% sight deposits) but deposit cost rose 9 bp to 4.18%; further hikes could squeeze margin. The group’s high Central-American exposure (Banistmo, BAM) shows mixed trends—ROE improvement but rising CoR—requiring vigilant regional monitoring. Overall risk profile modestly better; rating positive but under watch.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the month of Aug 2025

Comission File Number 001-32535

Grupo Cibest S.A.

(Translation of registrant’s name into English)

Cra. 48 # 26-85

Medellín, Colombia

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F þ                    Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):___

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(2):___

Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes o                    No þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-__________.

2Q25

GRUPO CIBEST (NYSE: CIB; BVC: CIBEST Y PFCIBEST) REPORTS FINANCIAL RESULTS FOR THE SECOND QUARTER OF 2025

•Net income attributable to shareholders for the second quarter of 2025 was COP 1.8 trillion. This value represents an increase of 3.1% compared to the previous quarter and 24.4% compared to 2Q24. The quarterly annualized return on equity (ROE) for Grupo Cibest was 17.5% for the quarter and 16.1% for the last twelve months.

•The net interest margin for the second quarter of 2025 was 6.57%, increasing by 14 basis points compared to 1Q25. Net interest income reached COP 5.2 trillion, up 3.2% quarter-over-quarter and down 0.5% year-over-year.

•Grupo Cibest's gross loan portfolio amounted to COP 280 trillion, an increase of 0.4% from the previous quarter and 4.4% from 2Q24. The quarterly growth is explained by higher balances across all loan portfolios. Deposits closed 2Q25 at COP 283 trillion, up 2.4% over 1Q25 and 9.6% over 2Q24. The quarterly increase was mainly due to growth in savings accounts.

•The 30-day past-due loan ratio stood at 4.54%, and the 90-day ratio at 3.19%. Total provisions charges for 2Q25 decreased by 0.3% compared to 1Q25 and were COP 1,100 billion, representing a quarterly annualized cost of credit of 1.57%. All loan portfolios showed a reduction in provision expenses.

•Shareholders’ equity closed at COP 41.3 trillion as of June 30, 2025, showing a 1.6% growth compared to the previous quarter and 5.3% year-over-year; the quarterly increase is explained by the increase in retained earnings during the period.

•In terms of digital strategy, a favorable trend is observed in line with results from the past year. As of June 2025, Bancolombia had 9.4 million active digital clients in the APP Personas (measured over a 90-day period), as well as 25.5 million accounts on its financial inclusion platform Nequi.

•On page 12 of this document, the statement of financial position, income statement, and key indicators of Bancolombia S.A. as of 2Q25 are presented, compared to pro forma figures from previous quarters that assume the completion of the corporate evolution toward Grupo Cibest, solely for the purpose of providing comparability in analyzing the entity’s performance in 2Q25. Additionally, Annex 1 on page 26 presents the details of the corporate structure evolution transactions.

August 6, 2025. Medellín, Colombia – Today, GRUPO CIBEST announced its financial results for the second quarter of 2025.

_________________________________________

This report corresponds to the unaudited consolidated financial information of GRUPO CIBEST S.A. and its subsidiaries (“Grupo Cibest” or “Cibest”), which it controls, among others, by directly or indirectly owning more than 50% of the voting equity interest. This financial information has been prepared based on accounting records in accordance with International Financial Reporting Standards (IFRS) and is presented in nominal terms. The financial information for the quarter ended June 30, 2025, is not necessarily indicative of results expected for any other future period. For further information, please refer to the SEC website, where company-related releases can be found: www.sec.gov.FORWARD-LOOKING STATEMENTS DISCLAIMER: This release contains statements that may be considered forward-looking within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All forward-looking statements made in this release or in future filings or press releases are subject to risks and uncertainties; factors such as changes in the general economic situation and business conditions, exchange rate and interest rate volatility, introduction of competing products by other companies, lack of acceptance of new products or services by our target customers, changes in business strategy, and other factors could cause actual results to differ materially from those set forth in such statements. CIBEST does not intend, and assumes no obligation, to update these statements. Some figures included in this release may be subject to rounding adjustments. Any reference to CIBEST or GRUPO EMPRESARIAL CIBEST should be understood as Grupo Cibest and its subsidiaries, unless otherwise specified. The comma (,) is used as a decimal separator and the period (.) as a thousand separator.

Representative Exchange Rate: July 1, 2025, $4,069.67 = US$ 1

1

2Q25

GRUPO CIBEST: Summary of consolidated financial quarterly results

STATEMENT OF FINANCIAL POSITION AND INCOME STATEMENT, CONSOLIDATED			Quarter									Change
(COP million)			2Q24			1Q25			2Q25			2Q25 / 1Q25						2Q25 / 2Q24
ASSETS
Net Loans			251,427,847			262,990,202			265,000,599			0.76			%			5.40			%
Investments			30,573,634			36,394,058			40,910,075			12.41			%			33.81			%
Other assets			70,197,591			64,741,051			69,340,052			7.10			%			-1.22			%
Total assets			352,199,072			364,125,311			375,250,726			3.06			%			6.55			%
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits			257,869,276			276,030,117			282,647,329			2.40			%			9.61			%
Other liabilities			54,124,846			46,406,159			50,219,111			8.22			%			-7.22			%
Total liabilities			311,994,122			322,436,276			332,866,440			3.23			%			6.69			%
Non-controlling interest			985,035			1,054,609			1,090,211			3.38			%			10.68			%
Shareholders' equity			39,219,915			40,634,426			41,294,075			1.62			%			5.29			%
Total liabilities and shareholders' equity			352,199,072			364,125,311			375,250,726			3.06			%			6.55			%
Interest income			8,943,475			8,413,459			8,619,933			2.45			%			-3.62			%
Interest expense			(3,756,886)			(3,349,459)			(3,393,009)			1.30			%			-9.69			%
Net interest income			5,186,589			5,064,000			5,226,924			3.22			%			0.78			%
Net provisions			(1,618,783)			(1,099,549)			(1,096,335)			-0.29			%			-32.27			%
Fees and income from service, net			1,041,798			1,017,768			1,091,880			7.28			%			4.81			%
Other operating income			741,084			836,571			830,720			-0.70			%			12.10			%
Total Dividends received and equity method			(225,575)			137,325			121,351			-11.63			%			-153.80			%
Total operating expense			(3,300,036)			(3,492,428)			(3,690,544)			5.67			%			11.83			%
Profit before tax			1,825,077			2,463,687			2,483,996			0.82			%			36.10			%
Income tax			(363,323)			(698,912)			(655,050)			-6.28			%			80.29			%
Net income before non-controlling interest			1,461,754			1,764,775			1,828,946			3.64			%			25.12			%
Non-controlling interest			(21,980)			(27,111)			(37,643)			38.85			%			71.26			%
Net income			1,439,774			1,737,664			1,791,303			3.09			%			24.42			%

2

2Q25

			Quarter																		As of
PRINCIPAL RATIOS			2Q24						1Q25						2Q25						2Q24									2Q25
PROFITABILITY
Net interest margin (1) from continuing operations			7.05			%			6.43			%			6.57			%			7.09						%			6.50			%
Return on average total assets (2) from continuing operations			1.69			%			1.91			%			1.94			%			1.82						%			1.92			%
Return on average shareholders´ equity (3)			15.32			%			16.26			%			17.49			%			16.26						%			16.80			%
EFFICIENCY																														—
Operating expenses to net operating income			48.93			%			49.57			%			50.69			%			47.62						%			50.14			%
Operating expenses to average total assets			3.87			%			3.84			%			3.99			%			3.81						%			3.91			%
Operating expenses to productive assets			4.49			%			4.44			%			4.62			%			4.45						%			4.53			%
KEY FINANCIAL HIGHLIGHTS
Net income per ADS from continuing operations			1.54						1.74						1.79						3.32									3.53
Net income per share $COP from continuing operations			1,511						1,822						1,877						3,256									3,699
P/BV ADS (4)			0.83						1.00						1.09						0.83									1.09
P/BV Local (5) (6)			0.87						1.11						1.19						0.87									1.19
P/E (7) from continuing operations			5.78						6.19						6.59						5.37									6.69
ADR price			32.65						40.20						46.19						32.65									46.19
Common share price (8)			35,300						47,000						51,000						35,300									51,000
Weighted average of Preferred Shares outstanding			961,827,000						961,827,000						961,827,000						961,827,000									961,827,000
USD exchange rate (quarter end)			4,148.04						4,191.79						4,069.67						4,148.04									4,069.67

(1)Defined as net interest income divided by monthly average interest-earning assets. (2) Net income divided by monthly average assets. (3) Net income divided by monthly average shareholders’ equity. (4) Defined as ADS price divided by ADS book value. (5) Defined as share price divided by share book value. (6) Share prices on the Colombian Stock Exchange. (7) Defined as market capitalization divided by annualized quarter results. (8) Prices at the end of the respective quarter.

3

2Q25

1. CONSOLIDATED STATEMENT OF FINANCIAL POSITION GRUPO CIBEST

1.1. Loan Portfolio

The following table shows the composition of Grupo Cibest loans on a consolidated basis by type and currency:

(COP Million)			Amounts in COP									Amounts in USD converted to COP									Amounts in USD (thousands)									Total
(1 USD = 4069.67 COP)			2Q25			2Q25 / 1Q25						2Q25			2Q25 / 1Q25						2Q25			2Q25 / 1Q25						2Q25			2Q25 / 1Q25
Commercial loans			127,272,864			0.47			%			53,373,873			-0.97			%			13,115,037			2.00			%			180,646,737			0.04			%
Consumer loans			36,894,375			2.27			%			18,212,843			-1.76			%			4,475,263			1.18			%			55,107,218			0.90			%
Mortgage loans			27,209,082			4.30			%			15,293,080			-3.67			%			3,757,818			-0.78			%			42,502,162			1.28			%
Small business loans			912,050			18.89			%			630,718			-0.05			%			154,980			2.95			%			1,542,768			10.34			%
Interests paid in advance			(23,733)			-0.08			%			(3,466)			-3.90			%			(852)			-1.02			%			(27,198)			-0.58			%
Gross loans			192,264,639			1.41			%			87,507,047			-1.61			%			21,502,246			1.34			%			279,771,686			0.45			%

Gross loan portfolio slightly grew compared to the previous quarter, driven by increases in all loan segments, with the highest percentage growth in the mortgage portfolio. This segment continues the positive trend observed since last year, recording a quarterly increase of 1.3% and an annual increase of 9.8%.

The quarterly and annual increases in the mortgage portfolio are attributed to the interest rate reduction strategy implemented in Colombia since July 2024. In Panama, Guatemala, and El Salvador, there was a slight decrease in the quarter.

Unlike the previous quarter, the consumer loan portfolio grew, mainly driven by Nequi, extending the trend from the previous quarter, as well as by credit card and payroll products. It is noteworthy that Bancolombia S.A. posted increases in the balance for each of the three months that make up the quarter, a contrast to the behavior observed in 2023 and 2024. Likewise, Banco Agricola continued its growth trend from previous quarters in this portfolio, focusing on higher risk-adjusted return segments. In contrast, Banistmo maintained its downward trend for the last three quarters, due to lower activity in credit card and unsecured loan products.

The commercial loan portfolio posted a slight growth of 0.04% for the quarter and 4.3% year-over-year. While quarterly increases were recorded at Banistmo, Bam, and Banco Agricola, the moderate growth in Colombia and the appreciation of the Colombian peso limited the consolidated portfolio grow.

On a quarterly basis, Bancolombia S.A. grew 1.1% in gross loan portfolio, Banco Agricola 3.5% (measured in USD), Banco Agromercantil 1.4% (measured in USD), while Banistmo posted a decrease of 0.1% (measured in USD).

In 2Q25, the gross loan portfolio increased 0.4% compared to 1Q25 (1.4% excluding the FX effect) and 4.4% compared to 2Q24 (5.0% excluding the FX effect). Over the past twelve months, the peso-denominated portfolio grew 6.9%, while the dollar-denominated portfolio (measured in USD) decreased 0.9%. The Colombian peso appreciated 2.9% against the US dollar during 2Q25, and 1.9% over the last twelve months. The average exchange rate was 0.1% higher in 2Q25 versus the previous quarter, and 7.0% higher year-over-year.

Allowances for loan losses decreased 4.9% during the quarter, totaling COP 14,771 billion, which is equivalent to 5.3% of the gross loan portfolio.

For a more detailed explanation regarding portfolio coverage and asset quality, see section 2.4. asset quality and provision charges.

The following table summarizes Grupo Cibest’s total loan portfolio:

4

2Q25

LOAN PORTFOLIO (COP million)			2Q24			1Q25			2Q25			2Q25 / 1Q25						2Q25 / 2Q24						% of total loans
Commercial			173,269,881			180,571,209			180,646,737			0.04			%			4.26			%			64.57			%
Consumer			55,049,622			54,616,427			55,107,218			0.90			%			0.10			%			19.70			%
Mortgage			38,713,478			41,964,536			42,502,162			1.28			%			9.79			%			15.19			%
Microcredit			1,096,958			1,398,191			1,542,768			10.34			%			40.64			%			0.55			%
Interests received in advance			(21,257)			(27,358)			(27,198)			-0.58			%			27.95			%			-0.01			%
Total loan portfolio			268,108,682			278,523,006			279,771,686			0.45			%			4.35			%			100.00			%
Allowance for loan losses			(16,680,835)			(15,532,803)			(14,771,088)			-4.90			%			-11.45			%
Total loans, net			251,427,847			262,990,203			265,000,598			0.76			%			5.40			%

Loan portfolio breakdown by currency and region

5

2Q25

1.2. Funding

As of the second quarter of 2025, customer deposits totaled COP 282,647 billion, representing 84.9% of total liabilities. This balance reflects a 2.4% increase compared to the previous quarter, mainly driven by higher savings accounts balances, largely explained by a higher remuneration rate at Bancolombia. To a lesser extent, checking accounts also grew, primarily associated with the corporate segment's activity at Bam. Time deposits registered a slight increase of 0.1%, due to the positive performance of the online time deposits product. On an annual basis, deposits grew by 9.6%, with savings accounts showing the highest level of dynamism.

In the funding mix, sight deposits remain as the main source of funding, accounting for 53.5% of the total. Within this category, savings accounts maintained their relevance and increased their share, reaching 41.8% of Grupo Cibest’s total funding during the quarter. Checking accounts also posted a slight increase in participation, while time deposits reduced their contribution given the modest quarterly growth versus total deposits. Finally, other sources of funding increased their quarterly share, mainly driven by the growth in repo operations as a result of liquidity management during the period.

FUNDING MIX COP Million			2Q24			% Liabilities with cost						2Q25/ 2Q24						1Q25			% Liabilities with cost						2Q25/ 1Q25						2Q25			% Liabilities with cost
Checking accounts			35,245,828			12			%			2.22			%			35,588,232			12			%			1.23			%			36,027,027			12			%
Saving accounts			111,241,322			39			%			16.26			%			124,114,011			41			%			4.20			%			129,326,941			42			%
Time deposits			106,871,203			37			%			4.24			%			111,289,855			37			%			0.10			%			111,403,425			36			%
Other deposits			5,105,906			2			%			92.53			%			6,303,747			2			%			55.94			%			9,830,290			3			%
Long term debt			16,107,674			6			%			(35.51)			%			10,878,328			4			%			(4.50)			%			10,388,366			3			%
Loans with banks			13,449,759			5			%			(8.98)			%			12,533,751			4			%			(2.32)			%			12,242,580			4			%
Total Funds			288,021,692			100			%			7.36			%			300,707,924			100			%			2.83			%			309,218,629			100			%

1.3. Shareholders’ Equity

Shareholders’ equity attributable at the end of 2Q25 stood at COP 41,294 billion, representing a 1.6% increase compared to 1Q25 and a 5.3% increase versus 2Q24. This growth is explained by higher retained earnings during the quarter.

2.INCOME STATEMENT GRUPO CIBEST

Net income attributable to equity holders totaled COP 1,791 billion in 2Q25, or COP 1,876.8 per share (USD $1.79 per ADR). Net income increased by 3.1% compared to 1Q25, primarily driven by higher net interest and fee income. The quarterly annualized return on equity (ROE) for Grupo Cibest reached 17.5% in 2Q25 and 16.13% over the last 12 months.

6

2Q25

2.1.Net Interest Income & Net Interest Income

Net interest income totaled COP 5,227 billion in 2Q25, reflecting a 3.2% increase compared to 1Q25. This performance was mostly due to loan portfolio interest income growth across all segments, supported by higher balances and improved yield rates against the previous quarter. Interest expense increased slightly, reflecting a higher cost of funds in Colombia, along with an increase in time deposits at Bancolombia S.A., Banco Agricola, and Banistmo.

Additionally, interest income from debt instruments and valuation of financial instruments reached COP 672 billion, representing a 12.2% increase quarter-over-quarter. This variation was mainly attributable to higher yields on debt securities, associated with active liquidity portfolio management.

The annualized weighted average cost of deposits was 4.18% in 2Q25, up 9 basis points compared to 1Q25.

As a result, the loan portfolio NIM reached 7.06% for the quarter, increasing 6 basis points from 1Q25 and decreasing 63 basis points year-over-year. The NIM on investments was 3.38%, up 59 basis points from 1Q25. Finally, the consolidated NIM increased by 14 basis points in the quarter, rising from 6.43% to 6.57%.

Portfolio yield by category						2Q24						1Q25						2Q25
Commercial Portfolio						12.71			%			11.02			%			11.08			%
Consumer Portfolio						16.12			%			14.43			%			14.60			%
Housing Portfolio						8.55			%			8.29			%			8.42			%
Microcredit Portfolio						19.56			%			18.38			%			19.72			%
Total Portfolio						12.85			%			11.32			%			11.41			%

Average weighted funding cost			2Q24						1Q25						2Q25
Checking accounts			0.33			%			0.27			%			0.34			%
Saving accounts			2.71			%			2.23			%			2.34			%
Time deposits			8.81			%			7.55			%			7.61			%
Total deposits			4.89			%			4.09			%			4.18			%
Others			6.06			%			5.28			%			4.89			%
Total cost of liabilities (1)			5.04			%			4.20			%			4.23			%

(1) refers to interest-bearing liabilities.

Annualized Interest Margin			2Q24						1Q25						2Q25
Loans' Interest margin			7.69			%			7.00			%			7.06			%
Debt investments' margin			2.60			%			2.80			%			3.38			%
Net interest margin (1)			7.05			%			6.43			%			6.57			%
(1) Net interest margin and valuation income on financial instruments.

2.2.        Fees and Income from Services

Net fee and service income for 2Q25 amounted to COP 1,092 billion, representing a 7.3% increase compared to 1Q25.

On a quarterly basis, bancassurance revenues posted the strongest growth, driven by the higher origination of the consumer loan portfolio; additionally, there was a moderate increase in debit and credit card fees, and commercial establishments, due to higher transaction volumes during the period compared to 1Q25.

Fee expenses grew during the quarter, mainly explained by increased payments to franchises due to a greater transaction volume in banking services, as well as higher outflows to banking agents driven by an increased level of transactions through this channel.

7

2Q25

2.3.        Other Operating Income

Total other operating income amounted to COP 831 billion in 2Q25, representing a 0.7% decrease compared to the first quarter of the year and a 12.1% increase compared to 2Q24. This decrease is mainly due to the net effect of foreign exchange derivatives and foreign exchange, resulting from the variation in the exchange rate during the period, an effect partially offset by a revaluation of investment properties in FCP Fondo Inmobiliario Colombia, driven by UVR indexation and new property appraisals. It is worth noting the increase in income from hedging derivatives offered to clients, associated with greater market uncertainty.

On the other hand, operating lease income totaled COP 434 billion in the second quarter, representing a 3.3% decrease compared to the previous quarter. This decline was mainly due to a reduction in vehicle leasing in Renting Colombia.

2.4.        Dividends received, and share of profits

Total dividend and other net income from equity investments for 2Q25 amounted to COP 121 billion, representing an 11.6% decrease compared to 1Q25 and a 153.8% increase versus 2Q24. The quarterly decrease was mainly due to lower income from the equity method in P.A. Viva Malls, while the annual increase was explained by a base effect, as in 2Q24 there was an impairment of associates and joint ventures related to Tuya S.A. based on market valuation.

8

2Q25

2.5.         Asset Quality and Provision Charges

The principal balance for past due loans (those that are overdue for more than 30 days) totaled COP 12,401 billion at the end of 2Q25, representing 4.54% of total gross loans, while 90-day past-due totaled COP 8,717 billion, accounting for 3.19%. The decrease in the 30-day indicator was mainly attributable to improved performance in the retail segment at Bancolombia S.A. and Banistmo. On the other hand, the slight increase in the 90-day ratio was driven by a higher balance of the consumer portfolio entering past-due at Banco Agricola.

Coverage, measured as the ratio of loan loss reserves (principal) to past due loans (over 30 days), stood at 107.7% at the close of 2Q25, down from 111.2% in 1Q25. Loan deterioration (new past due loans including charge-offs) during 1Q25 was COP 1,376 billion. The higher value compared to 1Q25 was mainly explained by the consumer portfolio at Bam.

Provision charges (after recoveries) totaled COP 1,096 billion in 2Q25, a decrease of 0.3% compared to 1Q25. During the quarter, the positive outlook for loan quality persisted, reflected by a widespread decrease in provision expenses across most segments and geographies. However, there were some exceptions in the retail segment at Banco Agricola and Bam, and specific clients in Banistmo. Additionally, there was an increase in provisions related to models and macroeconomic forecasts, explained by methodological updates and adjustments in economic expectations across all regions.

Provisions as a percentage of average gross loans, quarterly annualized, were 1.57% for 2Q25 and 1.71% for the last 12 months. Grupo Cibest maintains a statement of financial position supported by an adequate level of past-due loan reserves. Loan loss provisions (for the principal) totaled COP 13,358 billion, or 4.9% of gross loans as of the end of 2Q25, decreasing compared to 1Q24.

Stage 2+3 loan portfolio continued to decrease compared to the previous quarter, mainly driven by the positive performance of the portfolios, especially at Bancolombia S.A. and Banistmo, with the respective coverage level remaining stable.

The following tables present key metrics related to asset quality:

ASSET QUALITY			As of
(COP millions)			2Q24						1Q25						2Q25
Total 30-day past due loans			13,503,420						12,581,781						12,401,167
Allowance for loan losses (1)			15,131,222						13,986,022						13,358,386
Past due loans to total loans			5.17			%			4.64			%			4.54			%
Allowances to past due loans			112.05			%			111.16			%			107.72			%
Allowance for loan losses as a percentage of total loans			5.80			%			5.16			%			4.89			%

___________________

(1)Allowances for the principal of loans.

			% Of loan Portfolio						30 days
PDL Per Category									2Q24						1Q25						2Q25
Commercial loans			64.6			%			3.53			%			3.43			%			3.53			%
Consumer loans			19.7			%			8.33			%			6.72			%			6.05			%
Mortgage loans			15.2			%			7.83			%			6.98			%			6.76			%
Microcredit			0.6			%			10.62			%			7.39			%			7.12			%
PDL TOTAL									5.17			%			4.64			%			4.54			%

			% Of loan Portfolio						90 days
PDL Per Category									2Q24						1Q25						2Q25
Commercial loans			64.6			%			2.94			%			2.94			%			3.08			%
Consumer loans			19.7			%			4.93			%			3.84			%			3.55			%
Mortgage loans*			15.2			%			3.38			%			3.25			%			3.18			%
Microcredit			0.6			%			6.81			%			4.23			%			4.30			%
PDL TOTAL									3.43			%			3.17			%			3.19			%

9

2Q25

________________________

*Mortgage loans that were overdue were calculated for past due loans for 120 days instead of 90 days.

Loans by stages
			1Q25												2Q25												2Q25 / 1Q25
			Loans			Allowances			%						Loans			Allowances			%						Loans						Allowances
Stage 1			245,451,655			2,088,823			0.9			%			247,706,322			2,087,982			0.8			%			0.9			%			(0.04)			%
Stage 2			16,560,544			2,740,331			16.5			%			16,578,878			2,683,361			16.2			%			0.1			%			(2.1)			%
Stage 3			16,510,806			10,703,649			64.8			%			15,486,487			9,999,745			64.6			%			(6.2)			%			(6.6)			%
Total			278,523,005			15,532,803			5.6			%			279,771,687			14,771,088			5.3			%			0.4			%			(4.9)			%

Stage 1. Financial instruments that do not deteriorate since their initial recognition or that have low credit risk at the end of the reporting period. (12-month expected credit losses).

Stage 2. Financial instruments that have significantly increased their risk since their initial recognition. (Lifetime expected credit losses).

Stage 3. Financial instruments that have Objective Evidence of Impairment in the reported period. (Lifetime expected credit losses).

2.6.        Operating Expenses

During 2Q25, operating expenses totaled COP 3,691 billion, reflecting a 5.7% increase compared to 1Q25 and an 11.8% growth versus 2Q24.

The efficiency ratio was 50.7% in 2Q25 and 50.2% over the last twelve months. Personnel expenses (salaries, employee benefits, and bonuses) amounted to COP 1,575 billion in 2Q25, representing a 2.9% increase over 1Q25, primarily due to higher bonus payments.

Year over year, there is a 16.8% increase, mainly due to the annual salary adjustment and higher bonuses, in line with the increased earnings recorded as of June.

General expenses totaled COP 2,115 billion for the quarter, representing a 7.8% increase over the previous quarter and an 8.4% rise compared to the second quarter of 2024. The quarterly increase was largely explained by the financial transaction tax associated with the one-time payment of ordinary and extraordinary dividends, as well as fees related to the corporate evolution towards Grupo Cibest. On an annual basis, the increase was also mainly due to fees related to the corporate evolution towards Grupo Cibest and higher technology licensing and maintenance costs.

As of June 30, 2025, Grupo Cibest had 33,993 employees, 850 branches, 6,105 ATMs, 35,235 banking agents, and more than 33 million clients.

2.7.        Taxes

Grupo Cibest recorded an income tax expense of COP 655 billion, resulting in an effective tax rate of 28%. This outcome was driven by tax benefits in Colombia related to exempt income from the mortgage portfolio for social housing, investments in productive fixed assets, and investments in non-conventional renewable energy. Additionally, fiscal benefits in Guatemala, El Salvador, and Panama contributed, mainly due to exempt income from returns on securities issued by the respective governments.

10

2Q25

3.BREAK DOWN OF PRINCIPAL OPERATIONS

The following tables summarize the financial statements of our operations in each country.

BANCOLOMBIA S.A. (STAND ALONE) – COLOMBIA

Colombia’s economy is showing signs of stabilization, with GDP growth of 2.7% in the first quarter of 2025 and an annual projection of 2.6%. Inflation has gradually declined to 4.8% as of June, approaching the target range for 2026. The Central Bank reduced its benchmark interest rate to 9.25%. However, fiscal challenges persist, with a projected deficit of 7.1% of GDP and public debt above 63%. Furthermore, international uncertainty, marked by geopolitical conflicts and new trade tariffs, could influence inflation and local monetary policy.

The loan portfolio of Bancolombia S.A. increased by 1.1% in the second quarter of 2025 against the previous quarter, and by 6.8% year-over-year. The largest quarterly growth was registered in the mortgage portfolio, mainly driven by the interest rate reduction strategy. Contrary to the trend observed over the last three quarters, the consumer loan portfolio posted an increase for the period, explained by strong performance in Nequi, credit cards, and payroll loans. Meanwhile, the commercial loan portfolio recorded the lowest growth; however, the quarter-over-quarter increase was largely attributable to improved performance in leasing.

Regarding funding structure, a higher balance was recorded during the quarter, driven by growth in savings accounts, time deposits, and checking accounts, in that order. The increase in savings accounts was concentrated primarily in the retail segment. Growth in time deposits was mainly due to higher balances in online time deposits product, while the rise in checking accounts was mostly observed in the corporate segment.

Net income for Bancolombia S.A. in 2Q25 amounted to COP 1.4 trillion, representing a 23.3% decrease compared to 1Q25. This reduction is mainly explained by lower dividends and other equity income as a result of the new corporate structure. Interest income increased, driven by the recovery of reliefs in the commercial portfolio, higher volumes in the consumer portfolio with stable yield, and a rise in the mortgage portfolio balance. Treasury income also increased, mainly due to better yields on debt securities. Interest expenses rose, reflecting higher balances in savings accounts and an increase in their funding rate. Provision expenses decreased, explained by better performance in the corporate and retail segments, as well as higher recoveries from charged-off loans. Operating expenses increased, mainly due to fees related to the formation of Grupo Cibest and the financial transaction tax arising from the payment of dividends.

Finally, the net interest margin for 2Q25 stood at 7.38%, the quarterly annualized ROE was 16.55%, and the cost of risk was 1.65%.

Below are the statement of financial position, income statement, and main indicators of Bancolombia S.A. as of 2Q25, compared to pro forma figures from previous quarters, which assume the completion of the corporate evolution towards Grupo Cibest at the relevant dates for comparability purposes.

11

2Q25

STATEMENT OF FINANCIAL POSITION			Proforma  2Q24			Proforma  3Q24			Proforma  4Q24			Proforma 1Q25			Real  2Q25
ASSETS
Cash and cash equivalents			15,033,451			11,441,762			17,354,652			13,344,089			17,598,994
Loan portfolio and leasing operations, net			173,075,084			173,398,753			179,696,275			184,621,327			187,416,836
Equity investments			7,878,190			8,212,288			8,521,597			8,014,928			8,170,951
Other assets			12,803,489			13,310,860			12,308,566			11,382,861			10,395,477
TOTAL ASSETS			230,382,429			231,152,456			243,185,736			241,161,688			255,655,406
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
Customer deposits			170,986,606			172,270,646			185,801,073			185,175,224			194,416,941
Financial obligations			8,850,477			8,530,013			8,887,289			7,451,133			7,888,588
Other liabilities			24,523,873			21,798,851			19,374,972			21,409,303			22,108,867
TOTAL LIABILITIES			208,410,996			207,438,268			217,360,102			217,568,859			231,106,888
TOTAL SHAREHOLDERS' EQUITY			21,971,433			23,714,188			25,825,634			23,592,830			24,548,518
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			230,382,429			231,152,455			243,185,736			241,161,689			255,655,406

CONSOLIDATED STATEMENT OF FINANCIAL POSITION			Proforma 2Q24			Proforma 3Q24			Proforma 4Q24			Proforma 1Q25			Real 2Q25
																		Interest income and valuation allowance			7,032,319			6,866,374			6,608,529			6,472,948			6,636,440
Interest expense			(3,015,082)			(2,918,214)			(2,774,081)			(2,538,966)			(2,536,529)
Provisions and impairment, net			(1,320,138)			(1,197,544)			(624,999)			(877,789)			(814,368)
Fee and commission income, net			666,325			676,578			729,600			675,891			710,931
Other operating income, net			330,619			488,528			468,745			515,413			386,782
Equity method			275,843			275,023			432,987			298,108			94.960
Operating expenses			(2,318,800)			(2,280,195)			(2,557,212)			(2,413,975)			(2,494,808)
Earnings before income tax			1,651,086			1,910,548			2,283,569			2,131,631			1,856,099
Income tax			(325,280)			(447,642)			(680,196)			(587,371)			(499,844)
Net income			1,325,806			1,462,906			1,603,374			1,544,260			1,356,255

12

2Q25

Principal ratios Bancolombia S.A.

PRINCIPAL RATIOS BANCOLOMBIA S.A.			Proforma 2Q24			Proforma 1Q25			Proforma 2Q25			Proforma as of jun 24			Proforma as of jun 25
Net Interest Margin			7.91%			7.28%			7.31%			7.98%			7.28%
Net Portfolio Margin and Leasing			8.70%			7.95%			7.88%			8.64%			7.94%
NIM Investments, Debt Securities and Derivatives			1.41%			2.34%			3.19%			2.54%			2.60%
ROA			2.33%			2.55%			2.54%			2.47%			2.53%
ROE			24.58%			25.00%			26.25%			25.93%			25.34%
EFFICIENCY
Efficiency			43.94%			44.65%			47.27%			42.22%			45.97%
Operational Efficiency			3.95%			4.13%			4.23%			3.92%			4.07%
PORTFOLIO INDICATORS
Portfolio Quality 30 Days			5.29%			4.62%			4.41%			5.29%			4.41%
Portfolio Coverage 30 Days			125.61%			123.39%			121.79%			125.61%			121.79%
Portfolio Quality 90 Days			3.60%			3.26%			3.14%			3.60%			3.14%
Portfolio Coverage 90 Days			184.67%			174.75%			171.11%			184.67%			171.11%
Cost of Credit			2.85%			1.81%			1.65%			2.58%			1.78%

CONSOLIDATED SOLVENCY RATIO Consolidated (COP millions)			Proforma 2Q24			Proforma 1Q25			Real 2Q25
Technical Equity			24,057,005			25,805,125			26,953,192
Basic Solvency Ratio			10.24%			10.56%			10.99%
Total Solvency Ratio			12.55%			13.25%			13.47%
Risk-weighted assets			155,444,116			156,471,474			161,584,531
Total Market Risk			14,217,042			16,016,179			12,452,630
Total Operational Risk			22,019,038			22,245,364			26,046,098

13

2Q25

BANISTMO- PANAMA

Panama’s economy slowed in 2024 following the closure of the Cobre Panama mine. However, a recovery in Canal activity and tourism helped mitigate the impact. Inflation was negative due to price controls and lower oil costs, but could rebound in the face of ongoing geopolitical tensions. Labor market challenges persist due to layoffs in the mining sector and the potential closure of Chiquita Panama. Additionally, the new government is facing fiscal difficulties caused by low tax collection and rigid expenditures such as the pension system. President Mulino has indicated a willingness to address public finances, though significant obstacles remain.

Banistmo’s loan portfolio closed the quarter with a 0.1% decline (measured in USD). The mortgage and consumer portfolios contracted; in the case of mortgages, this reduction was due to the tightening of origination policies. The consumer portfolio was affected by weaker demand in credit cards and unsecured personal loan products. In contrast, the commercial portfolio posted slight growth. On the funding structure side, there was a 2.1% increase, mainly driven by higher time deposits from the corporate segment, while sight deposits decreased.

Banistmo’s net result for the second quarter of 2025 was a profit of COP 99.5 billion, representing a 15.0% increase compared to the previous quarter. Net interest income from the loan portfolio grew, supported by higher returns from both lending and treasury, along with a reduction in interest expenses, mainly due to lower liquidity operation costs. Provision expenses increased this quarter, as there were no significant reversals like those recorded in the previous quarter for mortgage models. Additionally, higher provisions expenses for specific clients. It is worth noting the improved performance of the consumer loan portfolio and the effectiveness of collection strategies.

Operating expenses rose compared to the previous quarter, mainly due to higher impairment charges on assets, attributable to the revaluation of certain properties. To a lesser extent, fees and tax expenses also increased. The net interest margin for 2Q25 stood at 3.49%, quarterly annualized ROE was 8.48%, and the cost of credit was 0.45%.

14

2Q25

STATEMENT OF FINANCIAL POSITION AND INCOME STATEMENT, CONSOLIDATED(1)			Quarter									Change
(COP million)			2Q24			1Q25			2Q25			2Q25 / 1Q25						2Q25 / 2Q24
ASSETS
Gross loans			34,234,897			32,661,341			31,686,840			-2.98			%			-7.44			%
Allowances for loans			(1,755,837)			(1,748,298)			(1,610,976)			-7.85			%			-8.25			%
Investments			6,309,037			6,127,140			6,520,926			6.43			%			3.36			%
Other assets			4,936,154			4,718,949			5,298,689			12.29			%			7.34			%
Total assets			43,724,250			41,759,133			41,895,480			0.33			%			-4.18			%
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits			29,872,766			29,960,745			29,695,876			-0.88			%			-0.59			%
Other liabilities			8,868,098			7,115,616			7,557,703			6.21			%			-14.78			%
Total liabilities			38,740,864			37,076,361			37,253,579			0.48			%			-3.84			%
Shareholders’ equity			4,983,386			4,682,771			4,641,900			-0.87			%			-6.85			%
Total liabilities and shareholders’ equity			43,724,250			41,759,133			41,895,480			0.33			%			-4.18			%
Interest income			662,757			642,020			662,898			3.25			%			0.02			%
Interest expense			(332,655)			(332,070)			(318,300)			-4.15			%			-4.32			%
Net interest income			330,102			309,950			344,599			11.18			%			4.39			%
Net provisions			(132,549)			(18,051)			(36,490)			102.15			%			-72.47			%
Fees and income from service, net			85,816			55,453			61,604			11.09			%			-28.21			%
Other operating income			13,569			13,992			15,101			7.92			%			11.29			%
Total operating expense			(231,947)			(243,657)			(250,240)			2.70			%			7.89			%
Profit before tax			64,992			117,687			134,573			14.35			%			107.06			%
Income tax			47			(31,160)			(35,080)			12.58			%			-74987.79			%
Net income			65,039			86,527			99,493			14.99			%			52.98			%

(1)Corresponds to the results of Banistmo and its subsidiaries before eliminating intercompany transactions with other Grupo Cibest companies

PRINCIPAL RATIOS						2Q24						1Q25						2Q25
NIM						3.42			%			3.11			%			3.49			%
ROE						5.53			%			7.39			%			8.48			%
ROA						0.63			%			0.81			%			0.94			%
CoR						1.64			%			0.22			%			0.45			%
Efficiency						54.01			%			64.22			%			59.4			%

15

2Q25

BANAGRICOLA- EL SALVADOR

El Salvador is experiencing a mild economic slowdown, mainly due to the decline in the textile sector in the face of Asian competition. Inflation has decreased as a result of lower fuel prices, although there could be a temporary rebound due to global disruptions. Lower external demand and a reduction in remittances are expected, impacting consumption. Fiscal space remains limited due to commitments with the IMF and rigidities in spending. Nevertheless, a short-term improvement in public finances is projected, with medium-term inflation expected to be around 1.3%.

Banco Agricola's loan portfolio closed the quarter with 3.5% growth (measured in USD). Growth was mainly driven by the commercial portfolio, particularly in the corporate segment. Additionally, there was a moderate increase in the consumer portfolio, fueled by unsecured loans and credit cards. On the deposit side, the quarter saw growth, mainly in time deposits from retail. There was also a less pronounced increase in current and savings accounts, driven by both the business and retail segments.

Net income for Banco Agricola in 2Q25 totaled COP 139.2 billion, representing a 9.1% decrease compared to 1Q25. Net interest income increased versus the previous quarter, mainly due to higher interest income from the loan portfolio, especially in consumer segments with higher risk-adjusted returns. To a lesser extent, interest expenses also increased, mainly as a result of higher time deposits. Net fee income grew, largely driven by the increase in remittance activity, which was influenced by events in the United States. Faced with a greater probability of deportation, a greater number of people have sent larger amounts of money to their home countries as a precautionary measure in the event of a possible forced departure from the US. Net provisions for the period increased due to the growth in the consumer portfolio in higher-risk segments. Operating expenses were up, primarily reflecting higher spending on advertising and repairs and maintenance of assets. Banco Agricola’s net interest margin for 2Q25 stood at 7.47%, quarterly annualized ROE was 20.0%, and the cost of risk was 1.82%.

16

2Q25

STATEMENT OF FINANCIAL POSITION AND INCOME STATEMENT, CONSOLIDATED (1)			Quarter									Change
(COP million)			2Q24			1Q25			2Q25			2Q25 / 1Q25						2Q25 / 2Q24
ASSETS
Gross loans			17,632,311			18,052,091			18,147,217			0.53			%			2.92			%
Allowances for loans			(590,211)			(560,656)			(563,127)			0.44			%			-4.59			%
Investments			2,766,074			4,148,720			3,317,820			-20.03			%			19.95			%
Other assets			4,722,296			5,062,786			4,759,210			-6.00			%			0.78			%
Total assets			24,530,470			26,702,940			25,661,120			-3.90			%			4.61			%
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits			18,690,453			21,303,465			21,037,764			-1.25			%			12.56			%
Other liabilities			3,497,018			2,608,616			1,776,397			-31.90			%			-49.20			%
Total liabilities			22,187,470			23,912,081			22,814,160			-4.59			%			2.82			%
Non-controlling interest			32,109			47,631			48,825			2.51			%			52.06			%
Stockholders’ equity attributable to the owners of the parent company			2,310,891			2,743,229			2,798,134			2.00			%			21.08			%
Total liabilities and shareholders’ equity			24,530,470			26,702,940			25,661,120			-3.90			%			4.61			%
Interest income			442,709			494,800			526,014			6.31			%			18.82			%
Interest expense			(109,648)			(112,513)			(115,968)			3.07			%			5.76			%
Net interest income			333,062			382,287			410,046			7.26			%			23.11			%
Net provisions			(63,769)			(60,500)			(83,272)			37.64			%			30.58			%
Fees and income from service, net			66,747			75,599			80,923			7.04			%			21.24			%
Other operating income			13,609			19,483			19,342			-0.72			%			42.13			%
Total operating expense			(197,262)			(218,643)			(233,781)			6.92			%			18.51			%
Profit before tax			152,386			198,226			193,259			-2.51			%			26.82			%
Income tax			(34,178)			(42,107)			(51,391)			22.05			%			50.36			%
Net income before non-controlling interest			118,208			156,119			141,868			-9.13			%			20.02			%
Non-controlling interest			(2,283)			(2,945)			(2,665)			-9.51			%			16.74			%
Net income			115,925			153,174			139,203			-9.12			%			20.08			%

(1)Corresponds to the results of Banagricola and its subsidiaries before eliminating intercompany transactions with other Grupo Cibest companies

PRINCIPAL RATIOS						2Q24						1Q25						2Q25
NIM						6.89			%			6.96			%			7.47			%
ROE						21.72			%			22.73			%			19.98			%
ROA						1.99			%			2.34			%			2.1			%
CoR						1.54			%			1.34			%			1.82			%
Efficiency						47.71			%			45.8			%			45.81			%

17

2Q25

GRUPO AGROMERCANTIL HOLDING – GUATEMALA

Guatemala's economy has remained one of the strongest in Central America, driven by the financial sector, textile exports, and tourism. Inflation has stayed low due to lower oil prices and normalized supply chains. Public investment in infrastructure and increased government spending are expected to support growth, even as remittance inflows may decline due to stricter U.S. migration policies. The Arévalo administration plans to expand public spending without compromising fiscal stability. Furthermore, two policy rate cuts by the Bank of Guatemala are anticipated in 2025, reaching 4.00%.

Bam's loan portfolio closed 2Q25 with 1.4% quarterly growth (measured in USD), mainly driven by the commercial portfolio in the corporate segment. Consumer lending also saw an increase, primarily in credit cards. On the funding side, a favorable dynamic was seen in savings and checking accounts, especially within the corporate segment, while time deposit balances decreased.

Bam posted a net profit of COP 32.6 billion for 2Q25. Net interest income showed a slight increase versus the previous quarter, mainly from higher interest generation in the commercial loan portfolio. This was partially offset by higher interest expenses, largely due to growth in savings accounts. Provision expenses rose, primarily explained by the expansion of the consumer portfolio, particularly unsecured loans. Operating expenses declined, mostly attributed to lower personnel expenses, partially offset by higher general expenses. Bam’s net interest margin for 1Q25 was 4.59%, quarterly annualized ROE stood at 6.0%, and credit cost was 2.45%.

18

2Q25

STATEMENT OF FINANCIAL POSITION AND INCOME STATEMENT, CONSOLIDATED (1)						Quarter																		Change
(COP million)						2Q24						1Q25						2Q25						2Q25 / 1Q25						2Q25 / 2Q24
ASSETS
Gross loans						18,917,726						20,224,335						19,903,624						-1.59			%			5.21			%
Allowances for loans						(960,229)						(959,125)						(949,930)						-0.96			%			-1.07			%
Investments						1,776,066						2,553,753						2,646,227						3.62			%			48.99			%
Other assets						4,089,367						4,185,643						4,396,525						5.04			%			7.51			%
Total assets						23,822,930						26,004,607						25,996,446						-0.03			%			9.12			%
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits						17,481,634						18,785,092						18,743,098						-0.22			%			7.22			%
Other liabilities						4,246,356						5,001,123						5,052,117						1.02			%			18.98			%
Total liabilities						21,727,989						23,786,215						23,795,215						0.04			%			9.51			%
Non-controlling interest						47,897						49,423						50,563						2.31			%			5.57			%
Stockholders’ equity attributable to the owners of the parent company						2,047,044						2,168,969						2,150,667						-0.84			%			5.06			%
Total liabilities and shareholders’ equity						23,822,930						26,004,607						25,996,446						-0.03			%			9.12			%
Interest income						475,361						512,737						519,880						1.39			%			9.37			%
Interest expense						(208,178)						(252,847)						(259,290)						2.55			%			24.55			%
Net interest income						267,183						259,890						260,590						0.27			%			-2.47			%
Net provisions						(89,964)						(113,873)						(124,233)						9.10			%			38.09			%
Fees and income from service, net						30,065						27,506						38,291						39.21			%			27.36			%
Other operating income						18,778						26,007						54,559						109.78			%			190.55			%
Total operating expense						(157,307)						(179,169)						(178,294)						-0.49			%			13.34			%
Profit before tax						68,755						20,362						50,913						150.04			%			-25.95			%
Income tax						(10,465)						1,349						(15,669)						-1261.63			%			49.73			%
Net income before non-controlling interest						58,290						21,710						35,244						62.34			%			-39.54			%
Non-controlling interest						601						(864)						(2,648)						20668		%	%			-540.87			%
Net income						58,891						20,847						32,596						56.36			%			-44.65			%

(1)Corresponds to the results of Grupo Agromercantil Holding and its subsidiaries before eliminating intercompany transactions with other Grupo Cibest companies

PRINCIPAL RATIOS						2Q24						1Q25						2Q25
NIM						5.44			%			4.58			%			4.59			%
ROE						12.42			%			3.82			%			5.99			%
ROA						1.04			%			0.32			%			0.5			%
CoR						1.99			%			2.24			%			2.45			%
Efficiency						49.78			%			57.17			%			50.45			%

19

2Q25

4.Grupo Cibest Company Description (NYSE: CIB, BVC: CIBEST Y PFCIBEST)

Grupo Cibest is a conglomerate of financial institutions and complementary businesses that offers a broad portfolio of products and services to a diversified base of over 33 million entities and individual clients. Grupo Cibest distributes its products and services through a regional platform comprising the largest private banking network in Colombia, with further presence in the Central American market through El Salvador's leading financial group, as well as international banking subsidiaries and local licenses in Panama, Guatemala, and Puerto Rico. BANCOLOMBIA and its business lines provide brokerage services, investment banking, financial leasing, factoring, consumer credit, fiduciary services, asset management, among others.

			Contact Information
			Grupo Cibest Investor Relations
Phone:			(601) 4885371
E-mail:			IR@Grupocibest.com.co
Contacts:			Catalina Tobón Rivera (IR Director)
Website:			https://www.grupocibest.com/Investor-relations

20

2Q25

CONSOLIDATED STATEMENT OF FINANCIAL POSITION												Change																		% of Liabilities
(COP million)			2Q24			1Q25			2Q25			2Q25 / 1Q25						2Q25 / 2Q24						% of Assets
ASSETS
Cash and balances at central bank			21,374,700			20,493,453			24,244,363			18.30			%			13.43			%			6.46			%
Interbank borrowings			3,717,447			4,345,084			4,375,272			0.69			%			17.70			%			1.17			%
Reverse repurchase agreements and other similar secured lend			6,373,029			3,436,757			2,735,369			(20.41)			%			(57.08)			%			0.73			%
Financial assets investment			30,573,634			36,394,058			40,910,075			12.41			%			33.81			%			10.90			%
Derivative financial instruments			3,444,239			2,529,449			3,239,291			28.06			%			(5.95)			%			0.86			%
Loans and advances to customers			268,108,682			278,523,005			279,771,687			0.45			%			4.35			%			74.56			%
Allowance for loan and lease losses			(16,680,835)			(15,532,803)			(14,771,088)			(4.90)			%			(11.45)			%			(3.94)			%
Investment in associates and joint ventures			2,850,311			2,962,639			3,045,408			2.79			%			6.84			%			0.81			%
Goodwill and Intangible assets, net			9,191,298			9,301,046			9,056,528			(2.63)			%			(1.47)			%			2.41			%
Premises and equipment, net			6,048,006			5,708,321			5,608,169			(1.75)			%			(7.27)			%			1.49			%
Investment property			5,423,018			5,608,037			5,761,117			2.73			%			6.23			%			1.54			%
Right of use assets			1,668,641			1,725,559			1,525,340			(11.60)			%			(8.59)			%			0.41			%
Prepayments			839,285			988,935			923,716			(6.59)			%			10.06			%			0.25			%
Tax receivables			1,993,175			1,303,756			1,832,435			40.55			%			(8.06)			%			0.49			%
Deferred tax			796,955			692,119			639,837			(7.55)			%			(19.71)			%			0.17			%
Assets held for sale and inventories			993,902			816,077			816,784			0.09			%			(17.82)			%			0.22			%
Other assets			5,483,585			4,829,819			5,536,423			14.63			%			0.96			%			1.48			%
Total assets			352,199,072			364,125,311			375,250,726			3.06			%			6.55			%			100.00			%
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES
Deposit by customers			257,869,276			276,030,117			282,647,329			2.40			%			9.61			%			75.32			%			84.91			%
Interbank Deposits			511,000			634,414			811,328			27.89			%			58.77			%			0.22			%			0.24			%
Derivative financial instrument			3,680,218			2,516,148			3,524,458			40.07			%			(4.23)			%			0.94			%			1.06			%
Borrowings from other financial institutions			12,938,759			11,899,337			11,431,252			(3.93)			%			(11.65)			%			3.05			%			3.43			%
Debt securities in issue			16,107,674			10,878,328			10,388,366			(4.50)			%			(35.51)			%			2.77			%			3.12			%
Lease liability			1,817,740			1,857,875			1,635,793			(11.95)			%			(10.01)			%			0.44			%			0.49			%
Preferred shares			555,152			541,340			555,152			2.55			%			—			%			0.15			%			0.17			%
Repurchase agreements and other similar secured borrowing			594,983			1,265,728			3,940,354			211.31			%			562.26			%			1.05			%			1.18			%
Current tax			695,645			755,481			1,248,967			65.32			%			79.54			%			0.33			%			0.38			%
Deferred tax			2,128,321			2,734,413			2,771,024			1.34			%			30.20			%			0.74			%			0.83			%
Employees benefit plans			895,682			941,706			928,875			(1.36)			%			3.71			%			0.25			%			0.28			%
Other liabilities			14,199,672			12,381,389			12,983,542			4.86			%			(8.56)			%			3.46			%			3.90			%
Total liabilities			311,994,122			322,436,276			332,866,440			3.23			%			6.69			%			88.71			%			100.00			%
SHAREHOLDERS’ EQUITY
Share Capital			480,914			480,914			480,914			—			%			—			%			0.13			%
Additional paid-in-capital			4,857,454			4,857,454			4,857,491			—			%			—			%			1.29			%
Appropriated reserves			22,632,835			24,302,796			23,702,075			(2.47)			%			4.72			%			6.32			%
Retained earnings			5,779,197			5,299,318			7,094,311			33.87			%			22.76			%			1.89			%

21

2Q25

Accumulated other comprehensive income, net of tax			5,469,515			5,693,944			5,159,284			(9.39)			%			(5.67)			%			1.37			%
Stockholders’ equity attributable to the owners of the parent company			39,219,915			40,634,426			41,294,075			1.62			%			5.29			%			11.00			%
Non-controlling interest			985,035			1,054,609			1,090,211			3.38			%			10.68			%			0.29			%
Total liabilities and equity			352,199,072			364,125,311			375,250,726			3.06			%			6.55			%			100.00			%

22

2Q25

CONSOLIDATED STATEMENT OF INCOME			As of						Jun-25 / Jun-24															Change
(COP million)			Jun-24			Jun-25									2Q24			1Q25			2Q25			2Q25 / 1Q25						2Q25 / 2Q24
Interest income and expenses
Interest on loans and financial leases
Commercial			8,358,202			7,741,324			(7.38)			%			4,160,195			3,828,165			3,913,159			2.22			%			(5.94)			%
Consumer			4,340,212			3,983,079			(8.23)			%			2,188,049			1,977,301			2,005,778			1.44			%			(8.33)			%
Small business loans			104,983			132,423			26.14			%			51,279			61,442			70,981			15.53			%			38.42			%
Mortgage			2,032,457			2,201,429			8.31			%			1,019,405			1,096,470			1,104,959			0.77			%			8.39			%
Financial leases			1,872,129			1,610,868			(13.96)			%			917,304			800,230			810,638			1.30			%			(11.63)			%
Total interest income on loans and financial leases			16,707,983			15,669,123			(6.22)			%			8,336,232			7,763,608			7,905,515			1.83			%			(5.17)			%
Interest income on overnight and market funds			126,418			93,453			(26.08)			%			64,595			50,969			42,484			(16.65)			%			(34.23)			%
Interest and valuation on financial instruments
Interest on debt instruments using the effective interest method			497,912			471,841			(5.24)			%			240,138			233,730			238,111			1.87			%			(0.84)			%
Valuation on financial instruments
Debt investments			583,100			841,175			44.26			%			284,827			399,865			441,310			10.36			%			54.94			%
Derivatives			(12,274)			(52,303)			326.13			%			(18,588)			(42,830)			(9,473)			(77.88)			%			(49.04)			%
Repos			159,184			(28,094)			(117.65)			%			50,792			(11,265)			(16,829)			49.39			%			(133.13)			%
Others			(21,454)			38,197			(278.04)			%			(14,521)			19,382			18,815			(2.93)			%			(229.57)			%
Total valuation on financial instruments			708,556			798,975			12.76			%			302,510			365,152			433,823			18.81			%			43.41			%
Total Interest on debt instruments and valuation on financial instruments			1,206,468			1,270,816			5.33			%			542,648			598,882			671,934			12.20			%			23.83			%
Total interest and valuation on financial instruments			18,040,869			17,033,392			(5.58)			%			8,943,475			8,413,459			8,619,933			2.45			%			(3.62)			%
Interest expense
Borrowings from other financial institutions			(734,351)			(518,020)			(29.46)			%			(332,778)			(272,541)			(245,479)			(9.93)			%			(26.23)			%
Overnight funds			(10,012)			(14,471)			44.54			%			(5,459)			(6,245)			(8,226)			31.72			%			50.69			%
Debt securities in issue			(595,519)			(415,995)			(30.15)			%			(310,348)			(208,711)			(207,284)			(0.68)			%			(33.21)			%
Deposits			(6,235,521)			(5,692,598)			(8.71)			%			(3,047,647)			(2,803,210)			(2,889,388)			3.07			%			(5.19)			%
Preferred shares			(28,650)			(28,650)			—			%			(13,813)			(14,837)			(13,813)			(6.90)			%			—			%
Lease liabilities			(68,723)			(55,459)			(19.30)			%			(35,509)			(33,829)			(21,630)			(36.06)			%			(39.09)			%
Other interest			(23,189)			(17,275)			(25.50)			%			(11,332)			(10,086)			(7,189)			(28.72)			%			(36.56)			%
Total interest expenses			(7,695,965)			(6,742,468)			(12.39)			%			(3,756,886)			(3,349,459)			(3,393,009)			1.30			%			(9.69)			%
Net interest margin and valuation on financial instruments before impairment on loans and financial leases, off balance sheet credit instruments and other financial instruments			10,344,904			10,290,924			(0.52)			%			5,186,589			5,064,000			5,226,924			3.22			%			0.78			%
Credit impairment charges on loans and advance and financial leases			(3,352,038)			(2,578,487)			(23.08)			%			(1,848,078)			(1,274,877)			(1,303,610)			2.25			%			(29.46)			%
Recovery of charged - off loans			394,114			416,868			5.77			%			225,017			171,353			245,515			43.28			%			9.11			%

23

2Q25

Credit impairment charges on off balance sheet credit instruments			11,904			(26,653)			(323.90)			%			5,068			(5,710)			(20,943)			266.78			%			(513.24)			%
Credit impairment charges/recovery on investments			12,257			(7,612)			(162.10)			%			(790)			9,685			(17,297)			(278.60)			%			2,089.49			%
Total credit impairment charges, net			(2,933,763)			(2,195,884)			(25.15)			%			(1,618,783)			(1,099,549)			(1,096,335)			(0.29)			%			(32.27)			%
Net interest margin and valuation on financial instruments after impairment on loans and financial leases and off balance sheet credit instruments and other financial instruments			7,411,141			8,095,040			9.23			%			3,567,806			3,964,451			4,130,589			4.19			%			15.77			%
Fees and commission income
Banking services			538,362			595,241			10.57			%			289,528			293,287			301,954			2.96			%			4.29			%
Credit and debit card fees and commercial establishments			1,581,663			1,689,363			6.81			%			796,641			829,936			859,427			3.55			%			7.88			%
Brokerage			20,686			21,163			2.31			%			13,735			9,740			11,423			17.28			%			(16.83)			%
Acceptances, Guarantees and Standby Letters of Credit			55,375			54,030			(2.43)			%			27,985			28,976			25,054			(13.54)			%			(10.47)			%
Trust			272,014			317,908			16.87			%			135,747			156,208			161,700			3.52			%			19.12			%
Placement of securities and investment banking			47,069			22,377			(52.46)			%			35,975			5,050			17,327			243.11			%			(51.84)			%
Bancassurance			494,385			500,849			1.31			%			286,073			226,643			274,206			20.99			%			(4.15)			%
Payments and Collections			505,422			541,100			7.06			%			265,605			263,664			277,436			5.22			%			4.45			%
Others			184,962			219,154			18.49			%			96,757			107,731			111,423			3.43			%			15.16			%
Total fees and commission income			3,699,938			3,961,185			7.06			%			1,948,046			1,921,235			2,039,950			6.18			%			4.72			%
Fees and commission expenses
Banking services			(808,218)			(960,463)			18.84			%			(426,369)			(466,832)			(493,631)			5.74			%			15.78			%
Sales, collections and other services			(436,239)			(450,303)			3.22			%			(228,748)			(223,097)			(227,206)			1.84			%			-0.67			%
Bank correspondents			(296,448)			(311,734)			5.16			%			(188,367)			(148,996)			(162,738)			9.22			%			-13.61			%
Others			(104,169)			(129,037)			23.87			%			(62,764)			(64,542)			(64,495)			-0.07			%			2.76			%
Fees and commission expenses			(1,645,074)			(1,851,537)			12.55			%			(906,248)			(903,467)			(948,070)			4.94			%			4.61			%
Total fees and comissions, net			2,054,864			2,109,648			2.67			%			1,041,798			1,017,768			1,091,880			7.28			%			4.81			%
Other operating income
Derivatives FX contracts			62,225			(127,091)			(304.24)			%			160,894			(11,917)			(115,174)			866.47			%			(171.58)			%
Net foreign exchange			100,826			468,458			364.62			%			(17,357)			213,211			255,247			19.72			%			(1,570.57)			%
Hedging			—			(2,908)			100.00			%			623			(3,233)			325			110.05			%			(47.83)			%
Leases			902,031			882,144			(2.20)			%			441,935			448,497			433,647			(3.31)			%			(1.88)			%
Gains (or losses) on sale of assets			32,995			107,091			224.57			%			15,090			49,760			57,331			15.22			%			279.93			%
Other reversals			18,453			4,512			(75.55)			%			4,723			1,829			2,683			46.69			%			(43.19)			%
Others			253,883			335,085			31.98			%			135,176			138,424			196,661			42.07			%			45.49			%
Total other operating income			1,370,413			1,667,291			21.66			%			741,084			836,571			830,720			(0.70)			%			12.10			%
Dividends received, and share of profits of equity method investees
Dividends			33,867			31,403			(7.28)			%			23,867			4,967			26,436			432.23			%			10.76			%
Equity investments			(8,183)			27,765			(439.30)			%			(5,701)			19848			7,917			(60.11)			%			(238.87)			%

24

2Q25

Equity method			133,312			199,668			49.77			%			56,023			112,510			87,158			(22.53)			%			55.58			%
Others			13,520			(160)			(101.18)						13,520			—			(160)			100.00			%			(101.18)			%
Total dividends received, and share of profits of equity method investees			(140,768)			258,676			(283.76)			%			(225,575)			137,325			121,351			(11.63)			%			(153.80)			%
Total operating income, net			10,695,650			12,130,655			13.42			%			5,125,113			5,956,115			6,174,540			3.67			%			20.48			%
Operating expenses
Salaries and employee benefits			(2,376,018)			(2,585,814)			8.83			%			(1,194,440)			(1,280,879)			(1,304,935)			1.88			%			9.25			%
Bonuses			(307,329)			(519,864)			69.16			%			(153,956)			(249,645)			(270,219)			8.24			%			75.52			%
Other administrative and general expenses			(2,492,765)			(2,796,090)			12.17			%			(1,288,226)			(1,339,181)			(1,456,909)			8.79			%			13.09			%
Taxes other than income tax			(780,826)			(746,403)			(4.41)			%			(389,932)			(356,466)			(389,937)			9.39			%			—			%
Impairment, depreciation and amortization			(533,744)			(534,801)			0.20			%			(273,482)			(266,257)			(268,544)			0.86			%			(1.81)			%
Total operating expenses			(6,490,682)			(7,182,972)			10.67			%			(3,300,036)			-3492428			(3,690,544)			5.67			%			11.83			%
Profit before tax			4,204,968			4,947,683			17.66			%			1,825,077			2,463,687			2,483,996			0.82			%			36.10			%
Income tax			(1,058,203)			(1,353,962)			27.95			%			(363,323)			(698,912)			(655,050)			(6.28)			%			80.29			%
Net income			3,146,765			3,593,721			14.20			%			1,461,754			1,764,775			1,828,946			3.64			%			25.12			%
Non-controlling interest			(43,519)			(64,754)			48.79			%			(21,980)			(27,111)			(37,643)			38.85			%			71.26			%
Net income attributable to equity holders of the Parent Company			3,103,246			3,528,967			13.72			%			1,439,774			1,737,664			1,791,303			4.47			%			4.46			%

25

2Q25

ANNEX 1

DETAILS OF CORPORATE STRUCTURE EVOLUTION OPERATIONS

(Amounts expressed in millions of Colombian pesos)

On October 29, 2024, the Bank announced to the market that its Board of Directors had authorized management to proceed with the steps necessary to modify the corporate structure of Grupo Bancolombia and its subsidiaries, through the creation of a parent company named Grupo Cibest S.A. (“Cibest”), and the completion of a series of corporate operations to achieve this goal.

The changes in the corporate structure included the following corporate operations (the “Corporate Operations”) which, after obtaining the required regulatory approvals in Colombia and the Group’s various jurisdictions, were approved by the Shareholders’ Meetings of the entities involved. This process included an extraordinary meeting of the Bank’s Shareholders’ Assembly held on April 23, 2025, with the participation of holders of common shares and holders of preferred dividend shares without voting rights. The approved corporate operations were as follows:

i.Partial spin-off of Bancolombia (Panama) S.A. in favor of the Beneficiary Company BC Panama S.A.S.

ii.Merger by absorption by the Bank of the Beneficiary Company BC Panama S.A.S.

iii.Partial spin-off of Banca de Inversión Bancolombia S.A. Corporación Financiera in favor of the Bank.

iv.Partial spin-off of the Bank in favor of Cibest.

Corporate Operations (ii), (iii), and (iv) were authorized by the Colombian Financial Superintendence through Resolutions No. 0356 of 2025 dated February 28, 2025, and 0901 dated May 7, 2025.

The notice of merger by absorption and partial spin-off of the Bank was published on January 13, 2025. Changes to the corporate structure were formalized on May 12, 2025, through public deed No. 386 of Notary Thirty of Medellin, and on May 16, 2025—the date of completion of the operation—the Bank’s shareholders (except for Cibest) became shareholders of Cibest. Cibest issued, in their name, the same number and types of shares (common shares and preferred dividend shares without voting rights), preserving the terms and conditions previously held in the Bank and their percentage of ownership. In turn, the shares previously held in the Bank (except those of Cibest) were canceled. Holders of the Bank’s ADRs received equivalent Cibest ADRs, and their Bank ADRs were canceled; therefore, no dilution or accretion was generated for the Bank’s shareholders, nor any transfer of value to third parties.

Upon completion of the Corporate Operations, Cibest became the parent company (holding) of all financial entities and other companies that make up the Group, including the Bank.

With the completion of the Corporate Transactions, Cibest became the holding company of all financial entities and other companies within the Group, including the Bank.

The value of the assets, liabilities, and equity spun off from Bancolombia S.A. to Grupo Cibest S.A. is detailed as follows:

26

2Q25

RECORDED SECURITIES OF THE SPIN-OFF STATEMENT OF FINANCIAL POSITION			Value
ASSETS
Cash			1,527,432
Equity Instruments			4,247
Trust Law PA Cadenalco 75 years			4,247
Investments in Subsidiaries			19,823,908
Banistmo S.A.			11,125,504
Banagrícola S.A. and Subsidiaries			4,676,277
Grupo Agromercantil Holding			3,465,595
Nequi S.A. Financing Company			45,390
Renting Colombia S.A.			324,563
Negocios Digitales Colombia S.A.S.			102,321
Wompi S.A.S.			38,692
Wenia Ltd			45,566
Investments in Associates and Joint Ventures			50,507
Deferred Tax Assets			59,373
Other Assets, Net			688
TOTAL ASSETS			21,466,155
LIABILITIES
Financial Obligations			1,527,432
Preferred Shares			545,873
Deferred Tax Liabilities			1,569,650
TOTAL LIABILITIES			3,642,955
TOTAL SHAREHOLDERS' EQUITY			17,823,200

27

2Q25

VALUES RECORDED FROM THE SPIN-OFF IN THE INCOME STATEMENT			Value
Interest expense			19,370
Net interest income and valuation of financial instruments			19,370
Banistmo S.A.			(107,923)
Banagrícola S.A. and Subsidiaries			(187,877)
Grupo Agromercantil Holding			(38,940)
Nequi S.A. Financing Company			15,646
Renting Colombia S.A.			(4,676)
Negocios Digitales Colombia S.A.S.			(566)
Wompi S.A.S.			(82)
Wenia Ltd			13,956
Others			(4,470)
Equity method			(314,932)
Total income, net			(295,562)
Earnings before income tax			(295,562)
Income tax			337
Net income			(295,225)

With the completion of the Corporate Transactions, Cibest became the parent company or holding company of all the financial entities and other companies that are part of the Group, including the Bank. Once the Corporate Transactions were finalized, the Bank's subsidiaries are as follows:

28

2Q25

Company

Address

Corporate Purpose

% of participation and voting rights as of June 30, 2025

Investment Banking

Colombia

Financial Services

89.74

%

Bancolombia Panama

Panama

Commercial Bank

100

%

Bancolombia Puerto Rico International Inc.

Puerto Rico

Commercial Bank

100

%

Fiduciaria Bancolombia S.A.

Colombia

Trust Business

94.97

%

FCP Fondo Inmobiliario Colombia

Colombia

Real Estate

80.43

%

Valores Bancolombia S.A.

Colombia

Stockbroker

93.61

%

P.A. FAI Calle 77 (Nomad77)

Colombia

Commercial Trust

98

%

P.A. Nomad Central 2

Colombia

Commercial Trust

98

%

P.A. Mercurio - Combinado Habitat - others

Colombia

Commercial Trust

100

%

P.A. Nomad Salitre

Colombia

Commercial Trust

98

%

P.A. Nomad Cabrera

Colombia

Commercial Trust

98

%

P.A. Sodimac

Colombia

Commercial Trust

100

%

P.A. Nomad Distrito Vera

Colombia

Commercial Trust

98

%

P.A. Nomad Nexo

Colombia

Fiducia mercantil

98

%

29

2Q25

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

			BANCOLOMBIA S.A. (Registrant)
Date: August 6, 2025			By:			/s/ MAURICIO BOTERO WOLFF
			Name:			Mauricio Botero Wolff
			Title:			Vice President of Strategy and Finance

30

FAQ

How much did Grupo Cibest (CIB) earn in 2Q25?

Net income attributable to shareholders was COP 1.8 trillion, up 3.1% QoQ and 24.4% YoY.

What was Grupo Cibest’s net interest margin in 2Q25?

The consolidated NIM was 6.57%, expanding 14 basis points versus 1Q25.

How did loans and deposits change during the quarter?

Gross loans reached COP 280 trn (+0.4% QoQ) and deposits COP 283 trn (+2.4% QoQ).

What is the current asset-quality situation for CIB?

30-day PDL stood at 4.54% (down 10 bp QoQ); reserve coverage was 107.7% and cost of risk 1.57%.

Did the corporate restructuring affect shareholders?

No dilution occurred; investors now hold equivalent shares in Grupo Cibest S.A. after the May 2025 spin-off.