In the first four months of 2024, CDTs in Colombia grew 11.45% annually to $302.8 trillion, but at the margin the increase was less than 0.1%

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Bogotá.-

Although the annual growth of Term Certificates of Deposit (CDTs) continued in the first four months of 2024, a stabilization of the balance is beginning to be observed at the margin (measured by month-on-month increases).

In fact, the increase in CDTs as of April of this year was in the order of 11.45%, which implied going from a level of $271.7 billion in the first four months of 2023 to $302.8 billion.

At the end of 2023, the balance was closer to $294.4 billion and at the end of 2022, to $227.2 billion, a value that was, in fact, 48.9% higher than that observed in 2021, when it was at $152.5 billion.

It is worth mentioning that the significant increases in the two recent years are mainly explained by the requirements of compliance with the Net Stable Funding Ratio (Cfen), which, in general terms, is an indicator that requires long-term placements of credit institutions to be funded with long-term resources, which prompted these entities to raise more stable resources, such as CDT's, by means of increases in funding rates.

In particular, in 2023, there was also a combination of factors such as tight liquidity in the second half of the year due to a low budget execution, which was reflected in a notable increase in Treasury Deposits.

In month-on-month terms, in April 2024, these deposits increased by only 0.08% compared to the previous February, going from $302.55 to $302.55.