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 August 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. 001-32535).
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: August 12, 2005 By /s/ JAIME ALBERTO VELASQUEZ B.
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Name: Jaime Alberto Velasquez B.
Title: Vice President of Finance
(BANCOLOMBIA LOGO) (CIB LISTED NYSE LOGO)
BANCOLOMBIA REPORTS UNCONSOLIDATED NET INCOME OF PS $413.990
MILLION DURING THE FIRST SEVEN MONTHS OF 2005
MEDELLIN, COLOMBIA. AUGUST 12, 2005
BANCOLOMBIA reported accumulated unconsolidated net income of Ps $413.990
million as of July 31, 2005. For the first seven months of 2005, the total net
interest, including investment securities amounted to Ps$906.704 million.
Additionally, total net fees and income from services amounted to Ps $306.925
million.
Total assets amounted to Ps 22.5 trillion in July 2005, total deposits totaled
Ps 13.2 trillion and BANCOLOMBIA's total shareholders' equity amounted to Ps 2.9
trillion.
BANCOLOMBIA's (unconsolidated) level of past due loans as a percentage of total
loans was 3.52% as of July 31, 2005, and the level of allowance for past due
loans was 121.71%.
MARKET SHARE
According to ASOBANCARIA (Colombia's national banking association),
BANCOLOMBIA's market share of the Colombian Financial System in July 2005 was as
follows: 18.1% of total deposits, 22.5% of total net loans, 17.9% of total
savings accounts, 17.9% of total checking accounts and 18.3% of total time
deposits.
*This report corresponds to the unconsolidated financial statements of
BANCOLOMBIA, giving effect to the merger. In accordance with the methodology
suggested to the Superintendency of Banking, the merger of Bancolombia, Conavi
and Corfinsura (post spin- off) was accounted for as a pooling of interests. The
numbers contained herein are subject to review by the relevant Colombian
authorities. This information has been prepared in accordance with generally
accepted accounting principles in Colombia, is stated in nominal terms and has
not been audited. All growth rates mentioned herein are not adjusted for
inflation.
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CONTACTOS
Sergio Restrepo Jaime A. Velasquez Mauricio Botero
VP Ejecutivo VP Financiero Gerente RI
Tel.:(574) 3120332 Tel.: (574) 5108666 Tel.: (574) 5108866
Bancolombia Logo
JULY 2005
BANCOLOMBIA S.A.
BALANCE SHEET
(Ps Millions) JULY 2005
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ASSETS
Cash and due from banks 808.928
Overnight funds sold 392.041
TOTAL CASH AND EQUIVALENTS 1.200.969
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DEBT SECURITIES 6.136.279
Trading 3.439.317
Available for Sale 1.752.542
Held to Maturity 944.420
EQUITY SECURITIES 809.326
Trading 1.037
Available for Sale 808.289
Market value allowance -37.800
NET INVESTMENT SECURITIES 6.907.805
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Commercial loans 9.765.538
Consumer loans 1.908.197
Small business loans 97.021
Mortgage loans 1.456.791
Allowance for loans and financial leases losses -562.187
NET TOTAL LOANS AND FINANCIAL LEASES 12.665.360
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Accrued interest receivable on loans 172.695
Allowance for accrued interest losses -11.894
NET TOTAL INTEREST ACCRUED 160.801
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Customers' acceptances and derivatives 76.652
Net accounts receivable 160.000
Net premises and equipment 338.347
Foreclosed assets 49.751
Prepaid expenses and deferred charges 37.397
Goodwill 60.396
Other 187.618
Reappraisal of assets 622.902
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TOTAL ASSETS 22.467.998
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LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
DEPOSITS
NON-INTEREST BEARING 2.666.541
Checking accounts 2.347.695
Other 318.846
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INTEREST BEARING 10.581.028
Checking accounts 181.353
Time deposits 3.709.128
Savings deposits 6.690.547
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TOTAL DEPOSITS 13.247.569
Overnight funds 1.036.935
Bank acceptances outstanding 46.845
Interbank borrowings 1.312.543
Borrowings from domestic development banks 954.008
Accounts payable 890.837
Accrued interest payable 147.902
Other liabilities 210.499
Bonds 1.462.815
Accrued expenses 283.476
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TOTAL LIABILITIES 19.593.429
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SHAREHOLDER'S EQUITY
SUBSCRIBED AND PAID IN CAPITAL 363.914
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RETAINED EARNINGS 1.275.290
Appropiated 861.300
Unappropiated 413.990
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REAPPRAISAL AND OTHERS 1.130.744
GROSS UNREALIZED GAIN OR LOSS ON DEBT SECURITIES 104.621
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TOTAL SHAREHOLDER'S EQUITY 2.874.569
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TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY 22.467.998
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Bancolombia Logo
JULY 2005
BANCOLOMBIA S.A.
INCOME STATEMENT As of
(Ps Millions) JULY 2005
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INTEREST INCOME AND EXPENSES
Interest on loans 1.002.822
Interest on investment securities 372.767
Overnight funds 11.437
TOTAL INTEREST INCOME 1.387.026
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INTEREST EXPENSE
Checking accounts 3.285
Time deposits 169.862
Savings deposits 137.886
TOTAL INTEREST ON DEPOSITS 311.033
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Interbank borrowings 25.586
Borrowings from domestic development banks 44.278
Overnight funds 31.112
Bonds 68.313
TOTAL INTEREST EXPENSE 480.322
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NET INTEREST INCOME 906.704
Provision for loan and accrued interest losses, net (77.060)
Recovery of charged-off loans 35.381
Provision for foreclosed assets and other assets (35.586)
Recovery of provisions for foreclosed assets and other assets 24.597
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TOTAL NET PROVISIONS (52.668)
NET INTEREST INCOME AFTER PROVISION FOR LOANS
AND ACCRUED INTEREST LOSSES 854.036
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Commissions from banking services and other services 34.837
Electronic services and ATM's fees, net 75.921
Branch network services, net 26.895
Collections and payments fees, net 31.966
Credit card merchant fees, net 5.460
Credit and debit card fees, net 104.687
Checking fees, net 32.298
Check remittance, net 5.813
International operations, net 12.856
TOTAL FEES AND OTHER SERVICE INCOME 330.733
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Other fees and service expenses (23.808)
TOTAL FEES AND INCOME FROM SERVICES, NET 306.925
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OTHER OPERATING INCOME
Net foreign exchange gains (52.814)
Forward contracts in foreign currency 98.904
Dividend income 99.973
Communication, rent payments and others 975
TOTAL OTHER OPERATING INCOME 147.038
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TOTAL INCOME 1.307.999
OPERATING EXPENSES
Salaries and employee benefits 289.390
Bonus plan payments 4.768
Compensation 4.511
Administrative and other expenses 373.437
Deposit security, net 30.990
Donation expenses 382
Depreciation 36.709
TOTAL OPERATING EXPENSES 740.187
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NET OPERATING INCOME 567.812
Merger expenses 22.939
Goodwill amortization Banco de Colombia 13.212
NON-OPERATING INCOME (EXPENSE)
Other income 28.683
Other expense (39.581)
TOTAL NON-OPERATING INCOME (10.898)
INCOME BEFORE INCOME TAXES 520.763
Income tax expense 106.773
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NET INCOME 413.990
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