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Bancolombia topped the rankings in 2017, but fell one spot to second place in this year's Merco report.

"Being part of this organization will allow Colombia to adopt better public policies, which will contribute to overcoming the large gaps in terms of competitiveness.”

The client portal was rolled out on May 15 to offer an overview of the available services offered to SMEs by Bancolombia and a library of informational resources.

This quarterly GDP growth represents an uptick from the meager 1.8% full-year growth in 2017 and is well above the 1.3% growth in the first quarter of 2017.

While this was just 0.01% below the rate recorded in March, this represents the fifth straight month of decline.

“Without doubt, his experience will be very valuable in strengthening the association," said Asobancaria.

Bancolombia said “it is expected” that the alliance will expand in the future to better align the payroll processing through its system.

Speakers will include Edgar Helou of Google, Marco Casarín of Microsoft, and Luis Enrique Arce of PwC.

Other leading partners include Deutsche Bank, Credit Suisse, Deloitte, MUFG, USAA, and Banco do Brasil

Fitch: “The strength of Colombia's fiscal and macro policy institutions...are likely to prevent major economic policy changes."