Bancolombia Q2 profit down 8 pct from year ago

BOGOTA Aug 1 (Reuters) - Bancolombia, Colombia's largest financial firm by assets, said on Wednesday that consolidated net profit for the second quarter fell 8 percent to 355 billion pesos ($198 million), due to an increase in operational costs.

Bancolombia said the bank's loan portfolio rose 17 percent in the second quarter from the same period a year ago.

"This growth confirms solid credit demand in Colombia, although it reflects that growth is moderating because we're more strict when it comes to granting loans," Bancolombia said in a filing with the financial regulator.