Markets are pricing an aggressive tightening cycle. Our recent meetings in Mumbai and New Delhi point to an economy that is more resilient, and a central bank more measured, than current expectations suggest.

Colombia enters 2026–2027 with a macroeconomic profile defined by a clear tension. On the one hand, the economy has shown greater resilience than many observers expected. On the other, fiscal deterioration has become large and persistent enough to raise concerns over policy credibility and medium-term debt sustainability. Colombia’s current story is therefore not one of immediate instability, but rather of a country whose longstanding institutional strengths are being tested by the scale of its fiscal imbalance.

Latin American banks offer many qualities investors value: strong profitability, ample capital and sophisticated regulation. Leading institutions are often subsidiaries of large European banks, with diversified earnings across lending, insurance, asset management, advisory services and payments, making the sector one of the more attractive areas of emerging-market finance.