Luis Carlos Sarmiento Gutierrez

On April 18, 1997 The Group has formally changed its name for the Civil Society Bank ABSA SA on January 8, 1998, the Group once again changed its name to Grupo Aval Acciones y Valores SA After This year, Grupo Aval introduces Electronic Banking service is desired, which is integrated with other Group entities, Banco de Bogot , Banco de Occidente, Banco Popular and Banco AV Villas. This innovation means customers who previously used their other channels of financial services for transactions in real-time Internet or at any of the offices of the group banks, or through ATMs.The greatest achievement of the group happens in 1999 when Grupo Aval out the stock market in the newly created Stock Exchange Colombia (The Colombian Stock Market) for the first time in company history. And it is there where the Panel makes a massive supply to the common public participation in the group, with 1,200,774,970 shares in the common market after stock between November 1 and December 31, 1999. To December 31, 1999, Aval 40.042 owned by shareholders. The end result of the IPO was the sale of 312,062,341 common shares on the stock market by 2.58 percent of its total shares, with a valuation of 58,190,135,296 Colombian peso.In 2000, a proposal is made for the appearance of the shares of Grupo Aval in the listing of the New York Stock Exchange but later were postponed, due to bad weather in the Wall Street business in emerging economies found in the time. In 2007, Luis Carlos Sarmiento continues as manager of the group companies, aided by his son Luis Carlos Sarmiento Gutierrez, who will assume control of their time on the business of the conglomerate.