On December 1, 2025, the Bank completed the sale of its banking operations in Colombia, Costa Rica and Panama to Davivienda Group S.A. in exchange for a 20.3% ownership stake in the combined Davivienda Group S.A. The Bank’s ownership consists of 14.99% voting common shares and the remainder in preferred shares. Following this date, the Bank designated two individuals to serve on Davivienda Group S.A.’s Board of Directors.

Upon closing, the Bank derecognized total assets of $24 billion and total liabilities of $22 billion consisting primarily of loans and deposits. The Bank recognized an additional loss of $11 million in expense and $423 million in income (collectively $377 million aftertax). The loss primarily represents the release of cumulative foreign currency translation losses, inclusive of and was recorded in the Other segment. As of October 31, 2025, the Bank recognized an impairment loss of $1,342 million Following the closing, the Bank recognized the investment in Davivienda Group S.A. as an investment in associate at a fair value of $1,370 million as the Bank has significant influence, given its board representation and ownership interest and it is accounted for under the equity method.