Banco Pichincha Colombia

What Banco Pichincha Colombia does

Banco Pichincha Colombia, legally Banco Pichincha S.A., is a regulated Colombian commercial bank and operating subsidiary of Grupo Financiero Pichincha, Ecuador's largest financial group with presence in 7 countries. It serves two primary segments, retail Personas (salaried employees, pensioners, individual consumers) and Empresas (SMEs through large corporates), offering savings accounts (Cuenta de Ahorros, Cuenta Corriente, Cuenta Rendipropósito), term deposits (CDT and CDT Desmaterializado registered through DECEVAL), credit products (Crédito de Libranza, Crédito de Libre Inversión, Crédito Cartera Ordinaria, Crédito de Tesorería, Crédito Educativo), insurance attachments (Seguro Vida Deudor, Seguro Autos Deudor, voluntary insurance via Axa Colpatria), and treasury services. The bank is in the midst of an aggressive digital and operational transformation under its Pibank brand, launched November 2022 with a digital remunerated savings account and expanded in March 2023 with CDT Pibank, targeting digital-first customers via www.pibank.co with no physical card and competitive yields.

The revenue model rests primarily on net interest income from the credit portfolio and deposits, with ancillary fee income from account management, credit card interchange (now suspended), merchant acquiring (discontinued December 2024), and insurance distribution commissions. Distribution is hybrid: a nationwide branch network being converted into Centros de Negocios (Business Centers) effective January 2026 with no cash handling, supplemented by website, mobile application, call centers (601) 6501000 / 01 8000 919918), PSE electronic payment integration, ACH, payment partnerships with Davivienda/Daviplata/Nequi, and collections through multiple agencies (C&C Services SAS, AECSA SAS, Interdinco, RECSA, PUNTUALMENTE). Pricing on regulated products is published in Tasas y Tarifas, with certain exemptions including GMF relief for single deposit accounts under Article 879 of the Tax Statute; deposit protection of COP 50,000,000 per depositor per entity is provided by Fogafín.

The bank's core technology stack comprises digital banking (web and mobile), biometric validation, electronic CDT issuance via DECEVAL, and PSE/ACH payment processing, with the Pibank brand positioned as a fully digital self-service channel. The financial institution has stated it is undergoing a strategic transformation spanning roughly three years, having acknowledged historical losses from a prior model misaligned with current market dynamics, and is rationalizing legacy products (credit cards disabled October 2024, debit cards cancelled January 2025, Rendipropósito accounts cancelling October 2025, cash handling ceased January 2026) to refocus on digital direct banking through Pibank and advisory-led business banking through Centros de Negocios.

Name

Banco Pichincha Colombia

Legal name

Banco Pichincha S.A.

Website

https://bancopichincha.com.co

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Banco Pichincha Colombia is a regulated commercial banking subsidiary of Ecuador's Grupo Financiero Pichincha, serving retail (Personas) and business (Empresas) customers in Colombia with deposits, CDTs, credit products, and insurance, while undergoing a digital transformation through its Pibank direct banking brand and conversion of branches to Business Centers.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Depository Credit Intermediation (5221), Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Retail banking services
• Deposit products
• Commercial lending
• Digital banking
• Corporate credit

Headquarters

HQ city

Bogotá

HQ country

Colombia

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income from Credit Products: The bank earns interest revenue from various credit products including Crédito de Libranza (payroll deduction loans), Crédito de Libre Inversión, Crédito de Cartera Ordinaria (business loans), and credit cards. Interest rates vary by product type, loan term, and customer profile.
2. Deposit Account Fees and Commissions: Revenue from account management fees, transaction commissions on savings and checking accounts, with fee exemptions for certain services and accounts under regulatory guidelines.
3. Credit Card Transaction Interchange: Revenue generated from credit card transactions including interchange fees, though the bank has suspended new credit card issuances and renewals as of October 2024 as part of its digital transformation strategy.
4. Insurance Product Distribution: The bank offers and earns commissions from insurance products including Seguro Vida Deudor (credit life insurance) and Seguro Autos Deudor, through partnerships with Axa Colpatria and other insurers.
5. Acquiring Services (Point of Sale): Revenue from merchant acquiring services allowing businesses to accept credit and debit card payments, with funds deposited to corporate accounts. Note: This service was discontinued in December 2024 as part of transformation strategy.
6. Investment Products (CDT): Term deposit products (CDT Desmaterializado and CDT Físico) where the bank collects deposits and pays interest, using funds for lending operations.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

Banco Pichincha Colombia is a commercial bank offering deposit products (CDT term deposits, savings and checking accounts), credit products (payroll deduction loans, personal loans, business credit, treasury credit, educational credit), insurance products (credit life, vehicle debtor, voluntary insurance), and transactional services through digital channels (web banking, mobile app) and the Pibank digital-only sub-brand. The bank also provides corporate banking services including ordinary portfolio credit, bank guarantees, foreign trade services, and virtual banking for businesses.

Product overview

Banco Pichincha Colombia operates as a traditional bank undergoing digital transformation, offering a portfolio of banking products and services under both the Banco Pichincha brand and its digital sub-brand Pibank. The core offerings include deposit products (CDT Desmaterializado, Cuenta de Ahorros, Cuenta Corriente, Cuenta Rendipropósito), credit products (Crédito de Libranza, Crédito de Tesorería, Crédito Cartera Ordinaria, Crédito Educativo, Crédito de Libre Inversión), insurance products (Seguro Vida Deudor, Seguro Autos Deudor, Seguros Voluntarios), and virtual banking services (Banca Virtual/Portal Transaccional). The Pibank digital brand provides fully digital account and CDT management. The bank is transitioning from traditional branch-based operations to Business Centers (Centros de Negocios) and digital channels, with products like credit cards and merchant acquiring being discontinued. The company is part of the Pichincha Financial Group, the largest in Ecuador with operations across 7 countries.

Differentiator

Problem solved

Functional benefit

Products and services

• CDT Desmaterializado Dematerialized Certificate of Deposit issued and managed electronically through DECEVAL (central securities depository), eliminating physical document handling. Available for individual customers with terms from 60 days, minimum investment of COP 500,000, fixed interest rate based on agreed term.
• Crédito de Libranza Payroll deduction loan for salaried employees and pensioners with automatic monthly payments deducted from salary or pension. Interest rates agreed at loan origination; loan amount and terms vary by employer partnership and credit profile.
• Cuenta de Ahorros Savings account offering interest earnings based on average balance, with digital account opening available through Pibank. Variable interest rates and GMF (4x1000 tax) exemption available for one deposit account per customer.
• Cuenta Corriente Current account for transactional money management with checkbook as primary transacting medium, designed for business and individual customers requiring frequent transaction access.
• Pibank Digital-only direct banking brand offering 100% digital savings account and CDT management with competitive yields, no physical card, fully self-service digital experience targeting tech-savvy customers who prefer fully digital banking.
• Banca Virtual / Portal Transaccional Online and mobile banking platform for individual and corporate customers providing account management, transactions, transfers, credit card and personal loan payments via PSE, CDT management, and loan applications. Transaction limits of COP 20,000,000 daily for web and app channels.
• Crédito Cartera Ordinaria Ordinary portfolio business financing for capital investment, asset acquisition (CAPEX), infrastructure, and expansion projects backed by company cash flow. Targeted at SMEs and corporate customers.
• Crédito de Tesorería Treasury credit for businesses to manage short-term liquidity needs, supporting working capital and operational cash flow requirements.
• Garantías Bancarias Emitidas Bank guarantees issued for business customers, providing contractual assurance to third parties on behalf of corporate clients for tenders, performance, and other obligations.
• CDT Empresarial Corporate Certificate of Deposit Term product for business investment and corporate treasury management, providing fixed-income deposit placement for companies.
• Comercio Exterior Foreign trade services including currency exchange and international transactions for business customers engaged in import/export activities.
• Crédito Educativo Educational credit for financing educational expenses, supporting students and families in funding higher education and training costs.
• Crédito de Libre Inversión Free investment personal credit with fixed interest rate in pesos charged monthly, with same monthly payment throughout loan term. Rate varies by term, amount, and origination channel.
• Seguro Vida Deudor Life insurance that covers outstanding debt in case of death or permanent disability of the borrower, offered to credit customers.
• Seguro Autos Deudor Vehicle insurance that protects the vehicle, driver, and passengers with legal and material coverages in case of incidents, offered through partnership with Axa Colpatria Seguros and other insurance providers.
• Seguros Voluntarios Voluntary insurance products offered to bank customers through partnerships with insurance providers, complementing mandatory credit-related insurance coverage.

Quantifiable outcome

• Deposit protection up to COP 50 million per depositor per entity through Fogafín insurance

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• PibankcoreOthersPibank is Banco Pichincha's digital-only banking brand launched as part of the bank's transformation strategy. Pibank offers digital savings accounts and CDT products with competitive rates, targeting tech-savvy customers who prefer fully digital banking without physical cards. Launched in November 2022 with savings account and March 2023 with CDT digital products.
• DECEVAL (Depósito Centralizado de Valores)coreTechnology or IntegrationDECEVAL is the centralized securities depository in Colombia that custodians and facilitates movement of CDT Desmaterializado (electronic term deposits). All electronic CDTs issued by Banco Pichincha are registered through DECEVAL, providing secure digital record-keeping for investments.
• DaviviendaminorChannel Partner/ Reseller/ DistributorPayment partner through which Banco Pichincha customers can make loan payments at Davivienda offices, collection centers, and correspondents. Particularly used for vehicle collateral release (levantamiento de prenda) procedures and other credit payments.
• AsobancariaminorOthersColombian Banking Association through which Banco Pichincha participates in industry-wide financial education initiatives. The bank references Asobancaria's inclusive financial education content with sign language interpretation for accessibility.
• Axa Colpatria SegurosminorChannel Partner/ Reseller/ DistributorInsurance provider partnership for Seguro Autos Deudor (vehicle debtor insurance) offered to vehicle loan customers. Bank also accepts other insurance providers meeting acceptance criteria for vehicle and life insurance coverage.
• Fogafín (Fondo de Garantías de Instituciones Financieras)coreOthersGovernmental deposit insurance entity that safeguards Colombian depositors against institution liquidation. All Banco Pichincha deposits including savings, checking, and CDT products are protected up to COP 50,000,000 per depositor per entity.
• C&C Services SASminorImplementation/ SI/ Consulting PartnerDebt collection and normalization agency partner for managing delinquent accounts. Provides specialized collection services including phone, WhatsApp, and email contact. Part of bank's multi-agency collection partner network.
• AECSA SASminorImplementation/ SI/ Consulting PartnerCollection and normalization agency partner for debt recovery and customer restructuring services. Located at Avenida Américas N° 46-41 Bogotá. Provides commercial and legal collection services.
• InterdincominorImplementation/ SI/ Consulting PartnerCollection agency partner for debt recovery services. Part of bank's external collection network assisting with customer normalization and payment arrangement processes.
• RECSAminorImplementation/ SI/ Consulting PartnerCollection services partner providing debt recovery and normalization support. Available through phone and WhatsApp for customer contact and payment facilitation.
• PUNTUALMENTEminorImplementation/ SI/ Consulting PartnerCollection agency partner offering debt recovery and payment arrangement services to help customers normalize their obligations with Banco Pichincha.
• Superintendencia Financiera de ColombiacoreOthersColombian financial regulator that supervises and controls Banco Pichincha's operations. The bank references compliance with regulatory requirements including Circular Externa 026 of 2017 for credit modifications and Law 2300 of 2023 for collection practices.

Scale indicators4 records

Recent moves13 records

Expansion highlights5 records

Emerging players

• Daviplata: Digital wallet subsidiary of Davivienda providing mobile payments and savings. Comparable as a digital deposit and payment alternative competing with Pibank for digitally-savvy Colombian retail customers.
• Nequi: Digital wallet and neobank from Bancolombia offering savings, payments, and credit via mobile. Comparable as a digital-first competitor to Pibank targeting Colombian retail consumers, though operated inside a larger incumbent.

Direct peers

• BBVA Colombia: Major Colombian commercial bank (subsidiary of BBVA Group) offering savings, deposits, payroll loans, business credit, and digital channels. Comparable as a multinational-bank-owned competitor targeting the same retail and SME segments.
• Banco de Bogotá: One of Colombia's oldest and largest commercial banks (part of Grupo Aval), offering comprehensive retail and corporate banking including CDTs, payroll loans, and commercial credit. Directly comparable as a full-service Colombian deposit-taking institution.
• Bancolombia: Colombia's largest bank offering the full retail, commercial, and digital banking stack (including Nequi). Directly comparable as a full-service Colombian commercial bank with deposit, lending, and payment products targeting both Personas and Empresas segments.
• Davivienda: Major Colombian bank offering retail deposits, commercial lending, mortgages, and digital banking via Daviplata. Directly comparable across consumer and business banking; notably also a payment correspondent partner of Banco Pichincha.
• Banco de Occidente: Colombian commercial bank (part of Grupo Aval) focused on corporate and treasury banking, trade finance, and selective retail. Comparable in business banking credit, treasury services, and CDT offerings.
• Banco Caja Social: Colombian commercial bank (Grupo Aval) with strong retail and microcredit franchise. Comparable as a deposit-taking institution serving retail and SME segments with payroll-deduction loans and savings products.

Broad incumbents

• Banco Pichincha Ecuador: Parent group flagship bank in Ecuador and the largest bank in that market, operating the same Grupo Financiero Pichincha platform across multiple countries. Comparable as the parent entity of the Colombian operation and benchmark for the broader group's product and technology stack.

Regional players

• Banco Agrario de Colombia: Colombian state-linked commercial bank with broad rural and agricultural footprint, deposit products, and lending. Comparable as a Colombian deposit-taking institution with a branch-led model, though with a different geographic and segment focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/bancopichinchacol
• Facebookfacebook.com/bancopichinchacol
• Instagraminstagram.com/bancopichinchacol

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Banco Pichincha Colombia