Monday

Before after by exposure to merger

	nrel	Mean change	Std. error
1	9	2.6952	0.3354
2	8	3.6645	0.2222
3	7	3.3273	0.1699
4	6	3.5037	0.1241
5	5	3.4630	0.1007
6	4	3.5242	0.0757
7	3	3.4599	0.0596
8	2	2.9541	0.0517
9	1	2.3085	0.0622

	nrel	Mean change	Std. error
1	9	2.5784	0.3439
2	8	3.7447	0.2215
3	7	3.2564	0.1747
4	6	3.6002	0.1298
5	5	3.3704	0.1095
6	4	3.3697	0.0859
7	3	3.5186	0.0741
8	2	3.2331	0.0712
9	1	2.8044	0.1055

New Loans

	nrel	Mean change	Std. error
1	9	4.0024	2.0662
2	8	0.7084	5.1590
3	7	6.1145	2.0405
4	6	4.0713	1.0651
5	5	5.4058	0.5276
6	4	4.5595	0.4141
7	3	4.8304	0.2705
8	2	4.2347	0.2368
9	1	4.0695	0.3511

	nrel	Mean change	Std. error
1	9
2	8	-0.3531	26.4638
3	7	3.7773	4.2712
4	6	3.7567	0.9268
5	5	7.2228	0.9901
6	4	5.0480	0.7915
7	3	4.3686	0.5879
8	2	5.5158	0.5030
9	1	4.8272	0.9362

Individual mergers

BBVA - Granahorrar

Relationships	Avg. before	Avg. after	obs. before	obs. after
1	16.4065	15.7792	573	578
2	14.4874	14.6028	507	504
3	13.3602	14.0704	422	411
4	13.4541	13.9950	284	315
5	12.8804	13.2967	187	182
6	12.4817	13.2412	120	138
7	12.4957	12.6135	93	75
8	12.0938	12.5231	46	52
9	11.2995	12.6512	42	30
10	11.5204	12.5479	17	16
11	11.3517	12.8630	15	4
13	12.8270	9.0836	2	2
14	8.7445		1
12		12.7262		2

Relationships	Avg. before	Avg. after	obs. before	obs. after
1	19.6291	16.0768	4	70
2	14.8805	14.2345	57	52
3	13.7618	13.2345	56	32
4	12.8800	13.8572	37	23
5	12.8347	12.6332	22	19
6	12.0823	12.6967	15	9
7	8.7594	13.1805	8	2
8	12.9143	12.4919	4	3
9	12.1387	15.0133	5	1
10	13.0863	10.3349	3	1
13	12.6082		1

Relationships	Avg. before	Avg. after	obs. before	obs. after
1	15.5644	16.0680	12210	12383
2	14.3817	15.0952	6572	6503
3	13.5732	14.5748	2544	2480
4	13.0060	14.0041	904	961
5	12.7827	13.4905	384	362
6	12.2955	13.3487	142	132
7	12.0515	13.5740	58	39
8	10.6808	12.1859	18	16
9	10.7686	12.0511	7	5
10	10.1668		3
12	13.8704	13.6122	3	1
13	10.3630		2
11		12.0186		3

Occidente-Unión

Relationships	Avg. before	Avg. after	obs. before	obs. after
1	19.2190	18.9754	152	216
2	15.8339	16.6661	1063	1057
3	14.1000	15.1976	978	974
4	13.3204	14.4574	655	677
5	12.9392	13.4656	433	434
6	12.3568	13.3624	287	285
7	12.0315	13.0341	179	147
8	12.0293	12.9487	94	104
9	11.7609	12.9042	68	42
10	12.2547	12.3137	30	25
11	11.5344	11.3425	24	10
12	11.0843	12.4361	7	5
13	12.0851	9.0836	6	2
14	11.2308		2

Relationships	Avg. before	Avg. after	obs. before	obs. after
1	22.7869	15.7306	2	49
2	16.0697	13.2389	44	45
3	13.0487	13.3659	45	22
4	11.8730	10.6389	20	9
5	13.3214	12.2394	10	4
6	9.2309	12.6504	7	5
7	10.2503		4
8	11.0420	10.4934	1	1
9	13.5790		2

Relationships	Avg. before	Avg. after	obs. before	obs. after
1	15.5909	15.9773	12613	12694
2	14.1191	14.5781	5669	5614
3	13.2330	13.9759	1907	1922
4	13.0435	13.4842	603	621
5	12.3579	13.3629	206	182
6	12.3108	12.5367	64	74
7	11.5662	12.5844	32	17
8	11.9637	12.3984	5	8
9	11.1068	12.1702	2	8
10	13.7187		3

Bogotá-Megabanco

Relationships	Avg. before	Avg. after	obs. before	obs. after
1	20.0898	18.9922	5467	5139
2	15.0541	17.3098	3224	3320
3	13.5664	16.2219	1625	1687
4	12.7893	15.8641	931	975
5	11.9905	15.1617	497	550
6	12.2843	14.7869	316	337
7	12.1115	14.4163	159	196
8	11.6479	14.2765	101	120
9	11.3049	13.3609	48	45
10	11.2996	13.6625	20	25
11	11.2450	12.9516	9	9
12	11.8162	14.5730	7	2
13	7.7384	9.8797	2	1

Relationships	Avg. before	Avg. after	obs. before	obs. after
1	14.0421	17.6976	7	73
2	13.5389	16.1002	80	49
3	11.5009	16.1142	36	17
4	12.2909	16.4526	15	8
5	14.6044	15.2510	8	3
6	12.8943	14.2326	4	2
7	13.4981		1
8	17.1787		1
9	11.1659	13.1944	1	1

Relationships	Avg. before	Avg. after	obs. before	obs. after
1	13.3368	17.9861	10519	9976
2	13.2816	17.3526	4105	4391
3	12.8267	16.7574	1338	1438
4	12.7811	16.3882	430	505
5	12.9772	15.5252	122	144
6	12.3671	15.6879	47	58
7	11.2296	14.8805	10	23
8	10.6929	14.9269	7	6
10	10.5614		1
11		13.1548		1

Davivienda-Granbanco

Relationships	Avg. before	Avg. after	obs. before	obs. after
1	19.3531	20.8085	1057	1128
2	16.4332	20.4649	1036	1058
3	15.5801	19.4245	717	751
4	14.6110	17.9879	492	493
5	13.8408	17.2176	325	303
6	13.6604	16.2765	217	192
7	13.3258	16.2711	148	136
8	12.8451	15.6196	97	52
9	12.4029	15.2936	38	28
10	13.1944	14.4424	23	19
11	11.3275	15.4894	9	2
12	13.9070	17.5972	3	1
13	9.7998		1

Relationships	Avg. before	Avg. after	obs. before	obs. after
1	19.0250	22.1282	3	40
2	15.9625	18.9704	38	25
3	15.0413	17.9817	18	16
4	12.8983	16.1154	15	6
5	12.7123	14.3593	12	4
6	14.3324	14.4837	3	2
7	13.9831		3
8	11.3075	14.6431	1	1
10	12.2081		1

Relationships	Avg. before	Avg. after	obs. before	obs. after
1	16.6381	22.0811	16126	16469
2	15.3508	19.9461	7718	7728
3	14.5411	18.6829	2733	2656
4	14.1686	17.8317	999	874
5	13.4709	16.7956	379	335
6	13.0414	16.5840	147	96
7	12.5989	15.2031	48	37
8	12.7672	15.2563	17	13
9	12.6546	16.2900	8	3
10	11.1515		1