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Colombia's Grupo Aval cuts 2023 loan forecast after 'exorbitant costs'

Colombian financial conglomerate Grupo Aval on Thursday cut its 2023 loan growth forecast and hiked its cost of risk estimate, a day after it posted a 75% quarterly profit slump as costs of funds rose for its banking subsidiaries. The South American company, whose portfolio includes Banco de Bogota and Banco Popular, now forecasts loan growth at 4% to 5% over the year, after guiding a 7% to 8% range last quarter. Despite soaring net interest income, Grupo Aval's quarterly earnings suffered from a $80 million settlement involving one of its subsidiaries in a U.S. corruption case, which Chief Executive Luis Sarmiento said was now fully closed both in the United States and Colombia. ....

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Providing for Those in Need: Long-Term Care Policy

(Archived document, may contain errors) 646 April 20, 1988 I PROVIDING FOR THOSE IN NEED I LONG-TERM CARE POLICY I c 1 i 28 I I i I Peter J. Ferrara John:M. Olin Fellow a 8 I- a I I a I . INTRODUCTION Many American families face the expense of assuring, adequate.longTtekm.treatment and care of elderly relatives who no longer can perform basic living activities for themselves. ....

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