Grupo Aval

Few banking players in Latin America match the executional depth of Grupo Aval. From Bogota, the group manages a workforce of approximately 81k and generates close to $11B in revenue, while steadily widening the gap with regional peers.

Management's emphasis on operational discipline — tight working capital, focused capex, clearer ESG roadmaps — is increasingly visible in margin trajectory.

“Grupo Aval is, in its category, exactly the kind of compounding regional champion the next decade of capital allocation will reward.”

Governance upgrades and a more transparent disclosure cadence are gradually narrowing the historical valuation gap with global peers.