Banco de la República’s Financial Statements

Last modified
Wednesday the 25th of March, 2026

The International Financial Reporting Standards (IFRS), issued by a private and independent body, are principle-based standards that form the international accounting framework, and are considered as the global benchmark for the preparation of homogeneous, comparable, and transparent financial information.

In this regard, following a joint study conducted by the National General Accounting Office (CGN in Spanish), the Financial Superintendency of Colombia (SFC in Spanish), and Banrep, the need to modernize Banco de la República’s accounting framework within the international context of central banks, together with the convergence process toward international accounting standards in Colombia resulting from the enactment of Law 1314 of 2009, led to the conclusion that the applicable base or reference accounting model for the Bank shall be the International Financial Reporting Standards (IFRS) in those aspects that are not contrary to its special regime, as set forth in Law 31 of 1992 and its Bylaws.

Consequently, per Resolution 037 of 2017 and its amendments, Banrep must apply the technical regulatory framework set forth in the annex to National Decree 2420 of 2015 and its amendments, except in the following aspects:

  • Those that are contrary to its special regime per Law 31 of 1992 and in its Bylaws issued by Decree 2520 of 1993, as amended by Decree 2386 of 11 December 2015, particularly the following: i) the accounting treatment of the foreign exchange adjustment of the Foreign Reserves arising from fluctuations in the exchange rate of the Colombian peso relative to the currencies in which such reserves are denominated (Section 4, Article 62 of the Bylaws, as amended by Article 2 of Decree 2386 of 2015); and ii) the accounting treatment of the (metallic) coins issued (Letter b, Section I).
  • The accounting treatment of the loan portfolio and its impairment, for which Banrep applies the special technical standards, interpretations, and guidance on accounting and financial information issued by the SFC.
  • The Cash Flows Statement, the preparation and presentation of which were discontinued as of 2025.

Banrep annually publishes the complete set of financial statements, which are audited by the Auditor General to the Central Bank and by an external auditing firm.

Additionally, Banrep publishes monthly reports on its financial position and comprehensive income. This information is obtained from the institution’s accounting records and does not constitute interim financial statements. Likewise, the report on effective monetary operations is published at the same frequency.