BOGOTA, Aug 14 (Reuters) - Colombian financial

conglomerate Grupo Aval reported on Wednesday a nearly

23% rise in its second-quarter net profit, climbing to 204.3

billion Colombian pesos ($50.9 million).

Meanwhile, the company's interest income between April and

June was up by about 22% to total 1.9 trillion pesos, according

to its quarterly results report. The boost was driven by a 4.7%

decrease in total interest expenses and a 1.2% increase in total

interest income.

Grupo Aval's portfolio includes Colombian banks Banco de

Bogota, Banco Popular, Banco AV Villas

, Banco de Occidente, Corporacion Financiera

Colombiana and pension fund Porvenir.

Its net interest margin, the difference between what the

bank earned on loans and doled out in deposits, stood at 3.4%.

In the report, the conglomerate specified that its cost

of risk in the period stood at 2.1%, or down 83 basis points

from the first quarter.

($1 = 4,013.8200 Colombian pesos)