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Bancafe is a subsidiary of Banco Davivienda
Davivienda
Davivienda is a Colombian Bank which was founded in 1972 and renders services to individuals, companies, and the rural sector. Currently, it is part of the Bolivar Corporate Group and it is the third entity of its type in the country.- History :...

. The bank was once a state-owned Colombia
Colombia
Colombia, officially the Republic of Colombia , is a unitary constitutional republic comprising thirty-two departments. The country is located in northwestern South America, bordered to the east by Venezuela and Brazil; to the south by Ecuador and Peru; to the north by the Caribbean Sea; to the...

n bank, but Davivienda bought the bank from Colombia for almost $1 billion in 2006.
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