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Banco de Occidente S.A.
	Headquarters in Cali.
Company type	Sociedad Anónima
Traded as	BVC: OCCIDENTE
Industry	Financial services
Founded	1965
Headquarters	Cali, Colombia
Key people	Efrain Otero Alvarez, (Chairman)
Products	Banking
Revenue	US$ 957.7 million (2012)
Net income	US$ 293.9 million (2012)
Total assets	US$ 14 852 million (2023)
Number of employees	6,828
Parent	Grupo Aval Acciones y Valores
Website	www.bancooccidente.com.co

Banco de Occidente is one of the largest Colombian banks. It is part of the Grupo Aval conglomerate of financial services in Colombia, owned by the country tycoon of finances, Luis Carlos Sarmiento Angulo (Ranked 285 on the 2009 forbes list of world billionaires).^[2]

History

Banco de Occidente began operations as a commercial banking corporation, duly incorporated, on May 3, 1965, under the administration of the first manager, Mr. Alfonso Díaz. Its orientation and scope initially maintained a regional tone during the first years, a period during which the development of the banking sector was really slow.

The first offices outside Cali were opened in Palmira, Pereira and Armenia. In 1970, the Bank had a network of 15 offices, a net worth of approximately 74 million pesos and total assets of around 685 million.

References

^ "Presentación Corporativa 2023" (PDF) (in Spanish). Retrieved 2024-10-20.
^ "The World's Billionaires". Forbes.com. Archived from the original on 14 March 2009. Retrieved 2009-03-15.