and this has been compensated with an increase in savings and checking accounts, which has allowed us to reduce the funding cost. However, as the Central Bank started last month a rate hiking cycle and the loan book is growing at a better pace, we expect the balance in term deposits to raise again in the same direction of the funding costs. Moving to slide five, I'm going to elaborate on the evolution of digital sales and distribution channel. During the first nine months of the year, digital sales have represented 44% of all sold products. Digital sales have maintained a steady evolution, despite the reactivation of traditional channels and of the reopening of the economy. This indicates that the customer experience evolution has accelerated during 2021 towards a permanent adoption of digital channels by many of our clients. I would like to point out one of the- our strengths, the share of processed transactions. On the lower right-side chart of the slide, you can notice that Bancolombia preserved 47% of all monetary transactions completed via web and 62% of those processed via mobile phones out of all financial institutions in Columbia. Moving to slide six, I am going to elaborate about Nequi. As you know, Nequi is our neobank, targeting primarily young people and focusing on the way they relate with banks. During this quarter we added 1.5 million new clients, reaching 8.6 million with a very low acquisition cost. Deposits are nearly 1 trillion pesos. Our net promoter score continued increasing with high levels of engagement. Remember, that we consider an active client the one interacting at least once a month towards a monetary transaction. And this is how we leverage the development of our profitability model, having clients with a low acquisition cost and with a high active user ratio. Nequi cards are growing fast. We have more than doubled the number reported 12 months ago. Notice that we are not only issuing more plastics, the number of transactions and the volume of payments are increasing at a very solid pace, reaching almost three times the figures observed one year ago. Moving to slide seven, you can see some relevant figures of Bancolombia a la Mano. Like other countries in the region, the population in Columbia lives throughout the country in several large, medium, and small cities. Bancolombia a la Mano targets low income individuals. We are actively responsible for financial inclusion and education. Through our financial inclusion initiatives, we provide mostly free financial services for people to access savings and credit tools to become financially empowered and improve their quality of life. Bancolombia a la Mano has reached almost 6 million clients. The income per client continues increasing. Transactions, especially payrolls and subsidies, remain high and loans inaudible have tripled over the last year. In slide eight represents our ESG framework. Our purpose is to promote sustainable economic development to achieve every- everyone's wellbeing. Therefore, we provide financial and non-financial solutions to strengthen the productivity network of our countries, create sustainable cities and communities, and promote financial inclusion. This commitment is aligned with a global agenda, which is to comply with the UN sustainable development goals, designed to achieve more prosperous societies and protect the planet. Under these three fronts of action in which we believe we can promote our purpose, we have already disbursed during this year 26 trillion pesos, which represents more than 20% of total disbursed. Now, I want to turn the presentation to Jose Humberto Acosta. Jose? Thank you, Juan Carlos. Now, turning to slide nine, I want to walk you through the evolution of the relief program. Credit reliefs continued decreasing. We are gradually returning to normal. This quarter, relief programs in Columbia and Panama finished. During the upcoming quarters, it will be key to follow the evolution of the federation, restructured loans, and charge-offs. Considering the geographies where the bank operates, our focus is Panama. The percentage of relief is decreasing gradually, but it is still 20% of the loan growth coming from 26% in the previous quarter. Unlike the other countries where we operate, Panama maintained a relief program until September 30. This situation required inaudible to allocate considerable resource to which specific agreements with clients that were under some relief is key during this quarter. As a result of this, at the end of September, only 5% of the loans under relief did not have a definitive arrangement. The other 15% of the loans under relief already had restructuring solutions, and if they need inaudible they will be transferred to the normal loan portfolio. On this slide you can notice not only the percentage of the loan book that is under relief, but also its compensation by segment and stages. On a consolidated basis, 6% of the loan book continues under relief. They are in turn subdivided into 50% for commercial, 21% for retail, and 29% for mortgages. Each composition by stages is as follows, 35% in stage one, 32% is stage two, and 12% is stage three. In slide 10, we explain the breakdown of operations during the quarter. Provision charges for the third quarter were 514 billion pesos. As we did in previous quarters, we won't explain the breakdown. This quarter has the lowest provision charges since the pandemic began, improving the trend we observed in the first half of the year. As you can notice, in the lower part of the slide, we may assume of COVID-19 and parameters obtained and are the main drivers behind these results. At the end of the relief programs in Columbia and Panama and expiration of the 94% of the relief been granted to our clients, we have been able to gather more and better information that allowed us to improve the methodology under which we built provisions. During this quarter, we have managed to reach final agreements with clients. Therefore, as they comply, we inaudible has been agreed and we release provisions. These, together with a better forecast of economic parameters have innovated a release of the balance of previous periods. Specific provisions inaudible in the quarter due to the recall of corporate clients of the construction sector in Columbia. Moving to slide 11, we give you a snapshot of provisions and asset quality. Cost of risk for the quarter was 1% and for the last 12 months was 2.2%, reflecting the good pace of recovery of our clients. If this trend continues- continues for the last quarter, it is possible that cost of risk for this year may be better than the guidance we gave in the second quarter of 2.3%. During this year, charge-offs have increased, exceeding the levels of 2020. This has two important impacts. First, it reduces the balance of the loan portfolio, and second, it helps reduce the level of party loans. We maintained solid coverage for 30 and 90 days that allow us to handle the following periods of possible deterioration. On slide 12, represent the consolidated and standalone capital adequacy. Consolidated total inaudible ratio stands at a level of 15.3%, while Tier 1 at a level of 11.8% under full Basel III for the third quarter. These ratios are well above