Corficolombiana, is an extended acronym for La Corporacion Financiera Colombiana (Colombian Financial Corporation). Corficolombiana is a private company dealing in financial solutions, with its customers being some of the largest corporations in Colombia. The field of finance refers to the concepts of Time, Money and Risk and how they are interrelated Colombia (kəˈlʌmbɪə officially the Republic of Colombia () is a country in northwestern South America. Its primary mission is to provide the necessary capital to promote the creation, growth, reorganisation, merger and expansion of any type of business. In Economics, capital or capital Goods or real capital refers to items of extensive value
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History of Corficolombiana
Headquartered in Bogotá, Corficolombiana was the first Colombian financial institution. Bogotá —officially named Bogotá DC (DC for " Distrito Capital " which means "Capital District" formerly called Santa Fe de Bogotá Colombia (kəˈlʌmbɪə officially the Republic of Colombia () is a country in northwestern South America. Founded in 1959, it has continued to grow and now offers a wide range of financial services. The year 1959 ( MCMLIX) was a Common year starting on Thursday (link will display full calendar of the Gregorian calendar. It has nine offices in Bogotá, and five regional offices located in Cali, Medellín, Bucaramanga, Barranquilla and Santa Fe de Bogotá. Medellín, officially the Municipio de Medellín (Spanish or Municipality of Medellín (English pronunciation mɛdəˈjiːn or, Spanish: or) is the second Bucaramanga is a municipality and capital city of the department of Santander, Colombia. Barranquilla, an industrial portuary and special district is a city and municipality located in northern Colombia by the Caribbean sea. Bogotá —officially named Bogotá DC (DC for " Distrito Capital " which means "Capital District" formerly called Santa Fe de Bogotá
Corficolombiana offers three specialized services: Credit, Investments and Financial Intermediation, offering its clients a consultant's office, financing, investment, security and yield optimization. Credit is the provision of resources (such as granting a Loan) by one party to another party where that second party does not reimburse the first party immediately thereby generating
In 1999, Corficolombiana merged with three other financial corporations, La Corporación Financiera de los Andes (Financial Corporation of the Andes), La Corporación Financiera Santander (Santander Financial Corporation) and Indufinanciera. Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) A corporation is a separate legal entity usually used to conduct business The purpose of the merger was to pool resources and to create a very efficient financial infrastructure.
Between 1999 and 2000, Corficolombiana received capitalization of more than 130 billion pesos, allowing the company to continue in its financial endeavours. 2000 ( MM) was a Leap year that started on Saturday of the Common Era, in accordance with the Gregorian calendar. Capitalization (or capitalisation &mdash see spelling differences) is writing a word with its first letter as a Majuscule (upper case letter only the letters that would be capitalized in that language in the middle of a sentence
Corficolombiana S. A. belongs to Grupo Aval, one of the four most important economic organizations in Colombia, with investments in diverse sectors of the economy. Grupo Aval Acciones y Valores SA (Grupo Aval is a Colombian Holding company engaged in a wide variety of Financial activities including Banking Colombia (kəˈlʌmbɪə officially the Republic of Colombia () is a country in northwestern South America. Investment or investing is a term with several closely-related meanings in Business management, Finance and Economics, related to saving An economy is the realized social system of production exchange distribution and consumption of goods and services of a country or other area
By late 2005 Corficolombiana S. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. A. initiated a merger with La Corporacion Financiera del Valle (Corfivalle).
History of Corfivalle
Corfivalle (La Corporación Financiera del Valle) began on April 27, 1961, when more than one hundred investors met at the Cali Chamber of Commerce and signed Articles of Incorporation. Events 1124 - David I becomes King of Scotland. 1296 - Battle of Dunbar: The Scots are defeated Year 1961 ( MCMLXI) was a Common year starting on Sunday (link will display full calendar of the Gregorian calendar. A chamber of commerce (also referred to in some circles as a board of trade) is a form of Business network. The Articles of Incorporation (sometimes also referred to as the Certificate of Incorporation or the Corporate Charter) are the primary rules governing the management The articles were approved October 2, 1961, by the Office of Banking Supervision. Events 1187 - Siege of Jerusalem: Saladin captures Jerusalem after 88 years of Crusader rule Year 1961 ( MCMLXI) was a Common year starting on Sunday (link will display full calendar of the Gregorian calendar. On November 27, the Articles of Incorporation were released to the public and the corporation opened its doors to business that same day, having a supervisor and nine employees on the payroll, with offices in Cali and Bogotá. Events 1095 - Pope Urban II declares the First Crusade at the Council of Clermont Also in 1961, Corfivalle opened its International Department, and received its first Letter of Credit from a foreign bank in order to finance the purchase of new equipment. A letter of credit is a document issued mostly by a Financial institution, used primarily in Trade finance, which usually provides an irrevocable payment undertaking
In 1980, the Colombian government released its control on interest rates, leading to a significant business boom. Year 1980 ( MCMLXXX) was a Leap year starting on Tuesday (link displays the 1980 Gregorian calendar) Interest is a fee paid on borrowed capital Assets lent include Money, Shares, Consumer goods through Hire purchase, major assets 1981, Corfivalle looked to create within the financial system a new type of financial interest involved in the robust capital market, as well as the acquisition of resources necessary to assure the development of the most productive sectors of the economy. Year 1981 ( MCMLXXXI) was a Common year starting on Thursday (link displays the 1981
By 1982, Corfivalle specialized in offering credits for the repayment of a contract at a discount and in promoting projects financed within the guidelines of the World Bank. Year 1982 ( MCMLXXXII) was a Common year starting on Friday (link displays the 1982 Gregorian calendar) A contract is an exchange of promises between two or more parties to do or refrain from doing an act which is enforceable in a court of law The World Bank is an internationally supported Bank that provides financial and technical assistance to developing countries for development programs (e
In 1984, Corfivalle opened an office in Medellín, and a second office in Bogotá. Year 1984 ( MCMLXXXIV) was a Leap year starting on Sunday (link displays the 1984 Gregorian calendar) Medellín, officially the Municipio de Medellín (Spanish or Municipality of Medellín (English pronunciation mɛdəˈjiːn or, Spanish: or) is the second
In 1985, the International Finance Corporation extended credit, underwritten by the United States, of $6 million to Corfivalle, having a term of 8 years with a 5 year grace period. Year 1985 ( MCMLXXXV) was a Common year starting on Tuesday (link displays 1985 Gregorian calendar) The International Finance Corporation (IFC promotes sustainable private sector investment in developing countries as a way to reduce poverty and improve people's lives The United States of America —commonly referred to as the A grace period is a period of time past the deadline for fulfilling an obligation during which a penalty that would be imposed for being late is waived
In 1992, the Apex Holding Company was created to for participation in the stock market. Year 1992 ( MCMXCII) was a Leap year starting on Wednesday (link will display full 1992 Gregorian calendar) A stock market, or (equity market is a private or public market for the trading of company Stock and derivatives of company This company included the IFC of the World Bank, and the Mexican Stock Market, each with 20% of the shares, while Corfivalle maintained 60%.
In 1994, Cofivalle Finance Bahamas Limited was established. Year 1994 ( MCMXCIV) was a Common year starting on Saturday (link will display full 1994 Gregorian calendar) The Bahamas, officially the Commonwealth of The Bahamas, is an independent sovereign English -speaking country consisting of two thousand Cays and This allowed Corfaville to expand its business and to remain one of Colombia's key financial institutions.
Since 2006, Corfivalle is a trademark of Corficolombiana S. A.
Gallery
 Corficolombiana building in Bogotá downtown |
 Current Corficolombiana headquarters building |
Notes
External links
- Corficolombiana official website (Spanish)
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