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FIRST QUARTER RESULTS 2021 / 1Q21 Banco Davivienda S.A. / PFDAVVNDA First Quarter Results 2021 / 1021 Bogotá , Colombia . May 20th , 2021. – Banco Davivienda S.A. ( BVC : PFDAVVNDA ) announces its 2021 First Quarter consolidated results . Financial statements have been prepared in accordance with International Financial Reporting Standards ( IFRS ) in Colombian Pesos ( COP ) . HIGHLIGHTS ■ DAVIVIENDA ■ Net profits for the quarter totaled $ 101.3 billion , increasing over the quarter and decreasing 54.9 % over the previous year , mainly due to higher net provision expenses which totaled $ 1.14 trillion . As of March 2021 , loans with current reliefs accounted for 8.2 % of our loan portfolio in Colombia and 10.1 % in Central America . The 12 - month Cost of Risk closed at 4.11 % , higher than the figure recorded last quarter and last year , reflecting higher provision expenses associated with the COVID - 19 crisis . The Total Capital Adequacy Ratio , under the new standard applicable in Colombia ( Basel III ) , reached 16.68 % , while Tier I ratio was 11.81 % . The implementation of this standard resulted in a 451 bps increase in the Total Capital Adequacy Ratio and a 370 bps increase in the CET1 ratio with pro - forma figures as of December 2020 . In April 2021 , we became the first issuer in Colombia of a perpetual AT1 bond worth US $ 500 million with a 3.5x bid to cover , strengthening our capital position and improving its quality . The 12 - month Net Interest Margin stood at 6.08 % , decreasing 20 bps over the year , mainly as a result of lower interest rates and lower investment income¹ . DaviPlata , our native digital Bank , reached 12.2 million customers . In addition , two new features for users were launched in April : Marketplace and Social Seller Profile . These will contribute to economic recovery by supporting e - entrepreneurs and companies across Colombia . As of March 2021 , Davivienda operated in 6 countries , had over 18 million customers , more than 17 thousand employees , 673 branches and 2,719 ATMs . Risk Ratings : Fitch BBB- / S & P BB + ² / Moody's Baa3 . ¹Investment income does not include our hedging strategy results which are accounted for in Changes and Derivatives . ² Risk rating updated on May 20th , 2021 following the sovereign downgrade on Colombia's rating on May 19th , 2021 . 1 Banco Davivienda S.A.