Thursday, May 25, 2017

Bancolombia (CIB) breaking out

Here is a link to the company's recent earnings report slides.

The economy in Colombia has not been doing well for several years and this was reflected in the price of CIB's stock.

The economy in Colombia is now turning around along with oil prices. In addition, Bancolombia has a big presence in Central America which is growing nicely and is another reason I like the stock long term.

The stock looks like it has broken out of its doldrums:

The stock has been out of favor for a while but now appears to be attracting money as investors rotate into emerging markets. I will continue to hold as I like this well run bank for the long term.

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