Company: CIB
Filing Date: 2025-08-15
Form Type: 6-K
Source: 0002058897-25-000035
Chunk: 15

Company: Grupo Cibest S.A.
Filing Date: 2025-08-15
Form: 6-K
Chunk 15
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 on Bancolombia’s operations will impact certain operational fronts, particularly regarding the dissemination of information and the safeguarding of labor rights for employees. Additionally, the reform may lead to increased operational expenses arising from: (i) services contracted through outsourcing; and (ii) adjustments to the employment arrangements for SENA 1 apprentices. Indirectly, various analysts have indicated that, at the national level, this reform could negatively affect unemployment and informality rates, which in turn may deteriorate credit demand and borrowers’ repayment capacity.

Secondly, the URF 2 has published a second version of the Draft Decree that would implement the mandatory Open Finance system in Colombia. This version raises several concerns for supervised entities: i) the scheme of responsibility in the process of access and processing of data by unsupervised third parties is not clear, although a model of registration in a directory and the validation of access requirements by the so-called trusted third parties (infrastructure providers) are defined; ii) a free model is proposed, which would prevent charging for access to information or any other concept aimed at recovering the investments made for the implementation and maintenance of the data infrastructure of the providers; and iii) there is no legal certainty about the application of the principle of reciprocity, where some actors could use data from the system without being obliged to provide information to it.

Thirdly, the Financial Superintendence of Colombia has released two versions of a draft regulation that seeks to enable financial institutions to manage environmental and social risks, and evaluate their impact on the financial situation and the resilience of the business model. Although the latest version is clear that these risks should not be managed within the Comprehensive Risk Management System (SIAR), the management of social and environmental risks is still in the early stages in the country. This represents a significant challenge for supervised entities, as it is not aligned with international trends, where supervisors have opted for approaches based on recommendations and guidelines, instead of strict regulations, and even in curbing this type of measures when referring to financial activity.

#### Panama
Law 468 of 2025 was approved, which updates the preferential interest regime for loans for the first home for up to USD $120,000 (limiting its use to a single time and seeking an adjustment of the fiscal accounts), with a

1 SENA: National Service of Learning. A public institution in charge of offering comprehensive vocational training for workers, young people and adults, with the aim of contributing to the social, economic and technological development of the country.

2 U