Grupo Aval
 |
|
| Sociedad Anónima | |
| Traded as |
BVC: GRUPOAVAL BVC: PFAVAL : AVAL |
| Industry | Holding |
| Headquarters | Bogotá, Colombia |
|
Area served
|
Colombia, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Grand Cayman, Bahamas, Barbados, United States |
|
Key people
|
Luis Carlos Sarmiento, (Chairman) |
| Products | Financial services, Banking, Telecommunications, Real estate, Investing |
| Revenue |
 US$ 8.0 billion (2012)
|
 US$ 845.4 million (2012)
|
|
|
Number of employees
|
48,609 |
| Website | www.grupoaval.com |
Grupo Aval is a Colombian holding company engaged in a wide variety of financial activities, including banking, telecommunications and real estate; in Colombia and Central America. Grupo Aval is controlled by Luis Carlos Sarmiento (estimated net worth of $13,3 billion), who directly and indirectly owns more than 90 percent of its shares.
Grupo Aval owns the BAC-Credomatic Financial Group which has operations in Mexico, Costa Rica, Panamá, Guatemala, El Salvador, Honduras, Nicaragua and the US State of Florida.
Additionally, as a holding company, Grupo Aval owns sufficient amounts of voting in other companies to control their policies. In addition to its interests in numerous industrial sectors, Grupo Aval controls some of Colombia's top financial organizations, including:
pension fund management companys owned by the holding:
Grupo Aval's internal staff consists of approximately 100 employees, dedicated to analyzing and identifying the most efficient financial and operating practices as well as recommending the implantation of these practices within organizations that the Group controls. To obtain these objectives, Grupo Aval is divided into three business divisions that include: (1) Investments and Strategic Planning, (2) Risk Management, (3) Corporative Services and (3) Technological Information.
On April 18, 1997, the Group formally changed its trading name from Administraciones Bancarias S.A. to Sociedad A.B. S.A. On January 8, 1998, the Group once again changed its name to Grupo Aval Acciones y Valores S.A. Later that year, Grupo Aval introduced an Online banking platform, which was integrated within the Group's major banking subsidiaries, Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas. This innovation allowed clients to either conduct financial transactions on the Internet or in real-time at anyone of the banks branch offices or automated teller machines.
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Wikipedia