and a stronger performance of the rest of our portfolio. This has resulted in a lower cost of risk than initially forecasted. Loan reliefs continued to expire and returned to active payment schedules. As expected, these loans have higher delinquency ratios than the average. In contrast, the remainder of our loan portfolio, 88.5%, continues to improve in line with a stronger economy offsetting the burden of the relief loans. As of June 30, we had 3% of our total gross loans under payment holidays and 8.5% under structural payment programs, together accounting for 11.5% of our loan portfolio. In Colombia, 5.9% of our loans have some type of relief. Only 0.2% of our Colombian gross loans are still under payment holidays. The remaining reliefs are under structural payment programs. In Central America, 20.9% of our loans still have some type of relief with 7.8% of gross loans under payment holidays and 13.2% under structural payment programs. Payment holidays persist mainly in Panama that account for 94% of those in the region. At end of period, 4.2% of our total loans that in the past had benefited either from payment holidays or were restructured and that had returned to active payment schedules were past due more than 90 days. These past due loans represent 1% of our total gross loans. These numbers were 7.3% and 1.8% for loans past due more than 30 days. In Colombia, 5.7% of loans previously relieved that had resumed active payment schedules were 90 days past due, representing 1.1% of gross loans. For 30 days past due loans, these numbers were 9.3% and 1.8%. In Central America, 2.6% of loans previously relieved that had returned to active payment schedules were 90 days past due, representing 0.9% of gross loans. For 30 days PDLs, these numbers were 5.3% and 1.8%. As mentioned before, the deterioration in relief loans was partially offset by the improvement of the rest of our loan portfolio. This resulted in the overall metrics for 30 days and 90 days PDLs remaining relatively stable during the quarter. Our allowance coverage of 30 days and 90 days PDLs remained flat as well as our- over the quarter. The ratio of charge-offs to average 90-day PDLs stood at pre- COVID levels. Regarding 30-day PDL formation, 76% was explained by retail products with credit cards and personal installment loans contributing 28% and 20% of PDL formation, respectively, despite representing only 8% and 5% of our gross loans. This behavior was mainly driven by relief loans that became delinquent. The quality of our loan portfolio was materially stable quarter-on-quarter at 4.76% on a 30-day basis and 3.42% at 90-day PDL basis. With 30-day and 90-day PDL… Sorry. Our 30-day and 90-day PDLs were 71 and 42 basis points higher than those a year earlier. Composition of our loan portfolio in term of stages shows an improvement in the share of stage 1 loans compensated by a decrease in stage 2 loans. As anticipated, part of the stage 2 loans migrated to stage 3. This improvement was mainly driven by our consumer loan portfolio in both geographies, which recorded a 146 basis points increase in the share of stage 1 loans and 155 basis points decrease in stage 2. Coverage of each stage remains relatively stable compared to a quarter earlier. Cost of risk, net of recoveries, was 2%, 23 basis points lower than the 2.2% in the previous quarter and 111 basis points lower than the 3.1% a year earlier. The quarterly improvement incorporates 58 basis points decrease in retail loans and a five basis points increase in commercial loans. Quarterly cost of risk improved by 34 basis points in Colombia and four basis points in Central America. In Colombia, the cost of risk of retail loans improved 84 basis points while that for commercial loans remained stable. In Central America, the cost of risk of retail loans fell 22 basis points and increased 17 basis points for commercial loans. On page 13, we present funding and deposit evolution. Funding growth during the quarter continued to reflect a high liquidity environment. Our deposits to net loans ratio and our cash-to-deposit ratio remained stable over the quarter at 110% and 15.8%, respectively. Our funding structure remained materially unchanged with deposits accounting for 78% of total funding. Deposits increased 1.7% during the quarter and 6.4% year-on-year. Colombia grew 1.4% during the quarter, while Central America grew 0.2% in dollar terms. For the 12-month period, Colombia grew 3.3% and Central America 11.6% in dollar terms. Annual growth of deposits above that of- of a loans reflects a conservative liquidity standing, particularly in Central America. On page 14, we present the evolution of our total capitalization, our attributable shareholders' equity and the capital adequacy ratios of our banks. Total equity grew 5% over the quarter and 8.2% year-on-year, while our attributable equity increased 5.3% and 7.6%, respectively, mainly driven by our earnings. 7.6% respectively, mainly driven by our earnings. Sovereignty ratios under Basel III remain relatively stable, as net income provided support for risk-weighted assets growth over the quarter. On page 15 we present our yield on loans, cost of funds, spread and NIM. NIM performance during the quarter was driven by a stable NIM on loans and an improvement of NIM on investments. Nim on loans remained at 5.8% during the quarter as the spread between yields and loans and cost of funds remained flat at 6%. Yield on loans continue to keep decreasing, however, it was compensated by a similar decrease in cost of funds. NIM on investments was 1.4% during the quarter, returning to positive ground from the -0.4% recorded last quarter. The excess liquidity associated with the prudent liquidity standing continued to weigh on our NIM. On page 16, we present net fees and other income. On this page and the following, we will present several PNL lines and metrics. Please bear in mind that two factors limit the comparability of our results year-on-year. First, a low baseline, considering that the strongest effect of the pandemic and commercial activity was suffered during that quarter, and second, only one month of MFG operations was part of our second quarter, 2020 PNL. Now moving to the content of this page. First half gross fee income increased 8.7% year-on-year while quarterly year-and-year growth was 17.9%. Gross fees fell 3.6% during the quarter, affected by a temporary pause in recovery associated with the demonstrations held in Colombia during April and May. In addition, performance-based pension management fees in Colombia and bancassurance related expenses in Central America affected this quarter's performance. Income from the nonfinancial sector reflects the strong performance of the infrastructure and energy and gas sectors. Our infrastructure sector grew 17.5% over the quarter, mainly due to the, a strong performance in the construction of some of our inaudible. First half contribution from the inaudible infrastructure sector grew 48% year-on-year. Quarterly income from infrastructure was 3.8 times that, a, a year earlier, when the stringent lockdowns experience, March to May, halted construction. The energy and gas sector contribution increased 14% over the quarter due to positive results in gas distribution and pipeline construction. First half income from the energy and gas