CONFORMED COPY
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1933
For the month of March 2005
BANCOLOMBIA S.A.
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(Translation of Registrant's name into English)
Calle 50 No. 51-66
Medellin, Colombia
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(Address of principal executive offices)
(Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.)
Form 20-F X Form 40-F
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(Indicate by check mark whether the registrant by furnishing the information
contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
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(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-______________.)
This Report on Form 6-K shall be incorporated by reference into the registrant's
registration statement on Form F-3 (File No. 333-12658).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BANCOLOMBIA S.A.
(Registrant)
Date: March 11, 2005 By /s/ JAIME ALBERTO VELASQUEZ B.
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Name: Jaime Alberto Velasquez B.
Title: Vice President of Finance
[LOGO--BANCOLOMBIA] [LOGO
CIB
LISTED
NYSE]
BANCOLOMBIA REPORTS UNCONSOLIDATED NET INCOME OF PS 88,430 MILLION
DURING THE FIRST TWO MONTHS OF 2005
Medellin, COLOMBIA. March 11, 2005*
BANCOLOMBIA reported unconsolidated net income of Ps 57,315 million for the
month ended February 28, 2005. For the two months ended February 28, 2005 the
Bank reported accumulated net income of Ps 88,430 million, 22.0% higher than for
the same period in 2004.
Total net interest income, including investment securities, amounted to Ps
88,589 million in February 2005 and Ps 178,345 million for the two-month period
ended February 28, 2005. Additionally, total net fees and income from services
amounted to Ps 26,714 million in February 2005 and Ps 54,159 million for the
two-month period ended February 28, 2005.
Total assets amounted to Ps 14.31 trillion in February 2005, 24.9% higher than
the reported in February 2004. Total deposits increased approximately 27.2% to
Ps 8.7 trillion over the last twelve months. BANCOLOMBIA's total shareholders'
equity amounted to Ps 2.03 trillion in February 2005, which constitutes a 38.2%
increase over the Ps 1.5 trillion reported in February 2004.
BANCOLOMBIA's (unconsolidated) level of past due loans as a percentage of total
loans was 1.8% as of February 28, 2005, and the level of allowance for past due
loans was 247%.
Market Share
According to ASOBANCARIA (Colombia's national banking association),
BANCOLOMBIA's market share of the Colombian Financial System in February 2005
was as follows: 12.4% of total deposits, 14.9% of total net loans, 10.5% of
total savings accounts, 18.6% of total checking accounts and 11.2% of total time
deposits.
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* This report corresponds to the interim financial statements of BANCOLOMBIA,
which are subject to review by the Superintendency of Banking. The information
contained herein has been prepared in accordance with generally accepted
accounting principles (GAAP) in Colombia, and is expressed in nominal terms and
has not been audited.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This release contains statements that may be considered forward-looking
statements within the meaning of Section 27A of the U.S. Securities Act of 1933
and Section 21E of the U.S. Securities Exchange Act of 1934. All forward-looking
statements, whether made in this release or in future filings or press releases
or orally, address matters that involve risks and uncertainties; consequently,
there are or will be factors that could cause actual results to differ
materially from those indicated in such statements.
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Contacts
Jaime A. Velasquez Mauricio Botero Fax: (574) 2317208
Financial VP IR Manager www.bancolombia.com
Tel.: (574) 5108666 Tel.: (574) 5108866 investorrelations@bancolombia.co