EXHIBIT 7. SELECTED RATIOS’ CALCULATION	INDEX	Dec-2003			Dec-2004			Dec-2005			Dec-2006			Dec-2007
		(In Ps million )
Net Interest Income	(1)		1,057,305			1,217,365			2,049,810			1,767,503			2,808,318
Total Interest Earning Assets	(2)		11,466,269			13,905,061			25,244,735			28,532,355			36,968,704
Total Average Assets	(3)		13,800,781			15,971,743			28,711,558			32,437,287			43,194,922
Total Average Shareholders’ Equity	(4)		1,507,480			1,800,275			3,006,580			3,392,142			4,160,130
Operating Expenses	(5)		850,768			912,421			1,654,805			1,871,000			2,271,712
Net Income	(6)		469,384			578,678			946,881			749,529			1,086,923
Total Assets	(7)		15,176,129			17,479,129			30,803,517			34,488,696			52,151,649
Net Operating, Income	(8)		1,572,630			1,791,818			3,012,087			2,906,597			4,285,552
Total Shareholders’ Equity	(9)		1,689,379			2,090,723			3,377,290			3,646,612			5,199,270
Loans	(10)		8,029,668			10,035,239			18,626,252			24,645,574			37,702,624
Non-Performing Loans	(11)		76,182			88,451			275,864			334,488			666,368
Allowance for Loans and Accrued Interest Losses	(12)		392,433			438,981			714,537			845,827			1,490,454
Loans Classified as “C”, “D” y “E”	(13)		396,098			386,882			629,040			626,255			1,170,099
Technical Capital	(14)		1,427,881			1,779,022			2,563,303			3,414,312			5,908,317
Risk Weighted Assets included Market Risk	(15)		10,916,521			13,240,657			23,457,768			30,885,195			46,628,036
SELECTED RATIOS:
Colombian GAAP:
Profitability Ratios:
Net Interest Margin	(1) / (2)		9.22	%		8.75	%		8.12	%		6.19	%		7.60	%
Return on Average Total Assets	(6) / (3)		3.40	%		3.62	%		3.30	%		2.31	%		2.52	%
Return on Average Shareholders’ Equity	(6) / (4)		31.14	%		32.14	%		31.49	%		22.10	%		26.13	%
Efficiency Ratio:
Operating Expenses as a Percentage of Interest, Fees Services and Other Operating Income	(5) / (8)		54.10	%		50.92	%		54.94	%		64.37	%		53.01	%

EXHIBIT 7. SELECTED RATIOS’ CALCULATION	INDEX	Dec-2003			Dec-2004			Dec-2005			Dec-2006			Dec-2007
Capital Ratios:
Period-end Shareholders’ Equity as a Percentage of Period-end Total Assets	(9) / (7)		11.13	%		11.96	%		10.96	%		10.57	%		9.97	%
Period-end Regulatory Capital as a Percentage of Period-end Risk-Weighted Assets	(14) / (15)		13.08	%		13.44	%		10.93	%		11.05	%		12.67	%
Credit Quality Data:
Non-Performing Loans as a Percentage of Total Loans	(11) / (10)		0.95	%		0.88	%		1.48	%		1.36	%		1.77	%
“C”, “D” and “E” Loans as a Percentage of Total Loans	(13) / (10)		4.93	%		3.86	%		3.38	%		2.54	%		3.10	%
Allowance for Loan and Accrued Interest Losses as a Percentage of Non-Performing Loans	(12) / (11)		515.13	%		496.30	%		259.02	%		252.87	%		223.67	%
Allowance for Loan and Accrued Interest Losses as a Percentage of “C”, “D” and “E” Loans	(12) / (13)		99.07	%		113.47	%		113.59	%		135.06	%		127.38	%
Allowance for Loan and Accrued Interest Losses as a Percentage of Total Loans	(12) / (10)		4.89	%		4.37	%		3.84	%		3.43	%		3.95	%