Who we are

Davivalores is a brokerage firm that complements the products and services that Davivienda offers to its clients, providing execution and clearing services for Exchange-traded and over-the-counter securities in the colombian capital market.

Clients

Staff

Assets under Management

Where we are

109,092 An extensive client base. Davivalores has the second largest number of clients in the country.

72

USD 489,76 Millions

Davivalores has direct presence in Bogotá, and through 311 branches of Banco Davivienda around Colombia

40% Sales36% Support24% Operations

( 1 USD = 2,414.39 COP )

Date: November 30 2014

Years of Experience

Stablished in 1974 under the name “Carlos Corredor and Compañia”.

1985 The company adopts the name Corredor y Albán S.en C

1992 Grupo Bolivar becomes partner of the firm.

1998 The company adopts the name Davivalores SA.

2000 Banco Davivienda obtains control of the firm.

2010 and 2011, Davivalores acquires more than 85,000 new clients after the IPO of Davivienda, and the Follow Ons of Davivienda and Ecopetrol

Productos y Servicios

Execution of exchange-traded and over-the-counter securities in the colombian equity and fixed income markets

Underwriting of Equities and Fixed Income securities (IPOs and Follow Ons)

Clearing and Custody of securities through the local central securities depositories (Deceval and DCV)

Efficient management of our client’s cash surpluses through our short term fixed income fund: Liquidez Inmediata.

Distribution of mutual funds and the voluntary pension funds managed by Fiduciaria Davivienda

Trading Desks

*Electronic Trading

* Local Equities only. Today, Davivalores is the second largest player in electronic trading in Colombia

Access to Colombian Capital markets through Davivalores

Institutional, corporate and retail desks

• Direct Market Access (DMA) to the Colombian Exchange (BVC)

• Full service FIX protocol

• Algorithmic trading infrastructure

Cartera Colectiva Superior en Banco

Davivienda

Assets Under Management

Cifras Clave

Figures in millions of dollars( 1 USD = 2,414.39 COP )

Date: November 30 2014

Cifras Clave

Figures in millions of dollars

( 1 USD = 2,414.32 COP )

Date: November 30 2014

Análisis local de renta variable

Our Company's coverage

• We initiate our coverage with a large report (+12 pages).and set a target price for the end of the year.

• Every quarter we update our estimates and target price in a one page report. (Brief).

• With the company´s financial information from the 3Q we release a target price for the next year.

• Reports are written in Spanish

• You can find us in Bloomberg: VALO

Row Labels % index COLCAP

Financials 29,80

Diversified Banks 13,52

Bancolombia SA 11,00

Brupo Aval Acciones y Valores 2,52Milti - Sector Holdings 16,28

Corp Financiera Colombiana SA 3,30

Grupo de Inversiones Suramericana SA 12,98Energy 19,74

Integrated Oil & Gas 19,74

Ecopetrol SA 19,74Materials 15,06

Construction Materials 15,06

Cementos Argos SA 4,30

Grupo Argos SA/ Colombia 10,76Consumer Staples 13,09

Hypermarkets & Super Centers 6,01

Almacenes Exitos SA 6,01

Packaged Foods & Meats 7,08

Grupo Nutresa SA 7,08Utilities 9,05

Electric Utilities 6,70

Interconexion Electrica SA ESP 3,98

Isagen SA ESP 2,72

Gas Utilities 2,35

Empresa en Energia de Bogota SA 2,35

Grand Total 86,74