Davivienda

Davivienda is a Colombian bank founded in 1972 that renders services to individuals, companies, and the rural sector. Currently, it is part of Grupo Bolivar is the third-largest bank in Colombia by assets and profits.[1]

Banco Davivienda S.A.
TypeSociedad Anónima
BVC: PFDAVVNDA
IndustryFinance
FoundedAugust 1, 1972 (48 years)
Headquarters
Bogotá
,
Colombia
Key people
Efrain Enrique Forero Fonseca, (Chairman)
ProductsBanking
Revenue US$3.3 billion (2016)
US$563 million (2016)
Total assets US$31.2 billion (2016)
Number of employees
10,683
ParentSociedades Bolívar
Websitewww.davivienda.com

History

The Corporación Colombiana de Ahorro y Vivienda, Coldeahorro, was created in August 1972. It opened its doors to the public on November 15, 1972, with the main branch in Bogotá, and one branch in each of the cities of Medellín, Cali, and Barranquilla.[2]

On January 30, 1973, Coldeahorro changed its name to Corporación Colombiana de Ahorro y Vivienda, Davivienda.[2]

On July 1, 1997 Davivienda became Banco Davivienda S.A. and in May 2006 it merged with Banco Superior. In 2006, it purchased Granbanco S.A - Bancafé from the Colombian government for US$2.2 billion, outbidding Banco de Bogotá by US$327 million.[3] The acquisition allowed Davivienda to expand its business in the corporate and agricultural markets.[2]

Davivienda has used the "Casita Roja" (small red house) as a national and international logo since 1973. In 1994, the company introduced the «su dinero puede estar en el lugar equivocado» (your money may be in the wrong place) tag line as part of its advertising campaigns.[4]

Davivienda purchased the Costa Rica, El Salvador and Honduras operations of HSBC in 2012.[5]

In 2010, Davivienda received permission from the United States Federal Reserve to operate a branch in Miami, Florida.[6] The branch opened in 2011.

Davivienda is a compound word of "da Vivienda," which is Spanish for "providing a dwelling."

References
  1. "Davivienda quiere entrar en la pelea". dinero.com. PUBLICACIONES SEMANA S.A. Retrieved 22 July 2015.
  2. Davivienda.Historical profile of Davivienda Archived 2011-08-09 at the Wayback Machine. Consulted on December 30, 2010
  3. "Se vendió Bancafé". dinero.com. PUBLICACIONES SEMANA S.A. Retrieved 21 July 2015.
  4. Revista Portafolio. Davivienda , la marca alegre que no está en el lugar equivocado Archived 2012-09-10 at Archive.today. Consulted on December 30, 2010.
  5. HSBC Sells Latin American Businesses
  6. "Fed approves Banco Davivienda branch in Miami". colombiareports.com. Colombia Reports. Retrieved 22 July 2015.
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