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 September 2005
BANCOLOMBIA S.A.
(Translation of Registrant's name into English)
Calle 50 No. 51-66
Medellin, Colombia
(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
----- -----
(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
----- -----
(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: September 13, 2005 By /s/ JAIME ALBERTO VELASQUEZ B.
-------------------------------------
Name: Jaime Alberto Velasquez B.
Title: Vice President of Finance
(BANCOLOMBIA LOGO) CIB
LISTED
NYSE
BANCOLOMBIA REPORTS UNCONSOLIDATED NET INCOME OF PS $469,446
MILLION DURING THE FIRST EIGHT MONTHS OF 2005
MEDELLIN, COLOMBIA. SEPTEMBER 13, 2005
BANCOLOMBIA reported accumulated unconsolidated net income of Ps $469,446
million as of August 31, 2005. For the first eight months of 2005, the total net
interest, including investment securities amounted to Ps$1,038,413 million.
Additionally, total net fees and income from services amounted to Ps $349,893
million.
Total assets amounted to Ps 21.7 trillion in August 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 3.82% as of August 31, 2005, and the level of allowance for past due
loans was 113.80%.
MARKET SHARE
According to ASOBANCARIA (Colombia's national banking association),
BANCOLOMBIA's market share of the Colombian Financial System in August 2005 was
as follows: 18.0% of total deposits, 21.9% of total net loans, 17.9% of total
savings accounts, 18.5% of total checking accounts and 17.6% 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.
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)
AUGUST 2005
GROWTH
BANCOLOMBIA S.A. AUG05/JUL05
BALANCE SHEET ------------------
(Ps Millions) JUL-05 AGO-05 $ %
---------------- ---------- ---------- -------- -------
ASSETS
Cash and due from banks 808,928 1,032,168 223,240 27.60%
Overnight funds sold 392,041 38,249 -353,792 -90.24%
TOTAL CASH AND EQUIVALENTS 1,200,969 1,070,417 -130,552 -10.87%
---------- ---------- -------- -------
DEBT SECURITIES 6,136,279 5,688,215 -448,064 -7.30%
Trading 3,439,317 3,125,315 -314,002 -9.13%
Available for Sale 1,752,542 1,608,088 -144,454 -8.24%
Held to Maturity 944,420 954,812 10,392 1.10%
EQUITY SECURITIES 809,326 769,321 -40,005 -4.94%
Trading 1,037 16,157 15,120 1458.05%
Available for Sale 808,289 753,164 -55,125 -6.82%
Market value allowance -37,800 -37,729 71 -0.19%
NET INVESTMENT SECURITIES 6,907,805 6,419,807 -487,998 -7.06%
---------- ---------- -------- -------
Commercial loans 9,765,538 9,548,035 -217,503 -2.23%
Consumer loans 1,908,197 1,933,457 25,260 1.32%
Small business loans 97,021 97,110 89 0.09%
Mortgage loans 1,456,791 1,466,620 9,829 0.67%
Allowance for loans and financial leases losses -562,187 -562,980 -793 0.14%
NET TOTAL LOANS AND FINANCIAL LEASES 12,665,360 12,482,242 -183,118 -1.45%
---------- ---------- -------- -------
Accrued interest receivable on loans 172,695 162,539 -10,156 -5.88%
Allowance for accrued interest losses -11,894 -12,053 -159 1.34%
NET TOTAL INTEREST ACCRUED 160,801 150,486 -10,315 -6.41%
---------- ---------- -------- -------
Customers' acceptances and derivatives 76,652 61,649 -15,003 -19.57%
Net accounts receivable 160,000 168,523 8,523 5.33%
Net premises and equipment 338,347 336,467 -1,880 -0.56%
Foreclosed assets 49,751 44,592 -5,159 -10.37%
Prepaid expenses and deferred charges 37,397 36,907 -490 -1.31%
Goodwill 60,396 58,508 -1,888 -3.13%
Other 187,618 174,210 -13,408 -7.15%
Reappraisal of assets 622,902 688,009 65,107 10.45%
---------- ---------- -------- -------
TOTAL ASSETS 22,467,998 21,691,817 -776,181 -3.45%
========== ========== ======== =======
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
DEPOSITS
NON-INTEREST BEARING 2,666,541 2,734,551 68,010 2.55%
Checking accounts 2,347,695 2,434,538 86,843 3.70%
Other 318,846 300,013 -18,833 -5.91%
---------- ---------- -------- -------
INTEREST BEARING 10,581,028 10,452,922 -128,106 -1.21%
Checking accounts 181,353 171,957 -9,396 -5.18%
Time deposits 3,709,128 3,506,498 -202,630 -5.46%
Savings deposits 6,690,547 6,774,467 83,920 1.25%
---------- ---------- -------- -------
TOTAL DEPOSITS 13,247,569 13,187,473 -60,096 -0.45%
Overnight funds 1,036,935 961,198 -75,737 -7.30%
Bank acceptances outstanding 46,845 43,868 -2,977 -6.36%
Interbank borrowings 1,312,543 1,173,127 -139,416 -10.62%
Borrowings from domestic development banks 954,008 881,401 -72,607 -7.61%
Accounts payable 890,837 554,716 -336,121 -37.73%
Accrued interest payable 147,902 135,953 -11,949 -8.08%
Other liabilities 210,499 203,613 -6,886 -3.27%
Bonds 1,462,815 1,306,355 -156,460 -10.70%
Accrued expenses 283,476 305,870 22,394 7.90%
---------- ---------- -------- -------
TOTAL LIABILITIES 19,593,429 18,753,574 -839,855 -4.29%
========== ========== ======== =======
SHAREHOLDER'S EQUITY
SUBSCRIBED AND PAID IN CAPITAL 363,914 363,914 0 0.00%
---------- ---------- -------- -------
RETAINED EARNINGS 1,275,290 1,330,746 55,456 4.35%
Appropiated 861,300 861,300 0 0.00%
Unappropiated 413,990 469,446 55,456 13.40%
---------- ---------- -------- -------
REAPPRAISAL AND OTHERS 1,130,744 1,145,335 14,591 1.29%
GROSS UNREALIZED GAIN OR LOSS ON DEBT SECURITIES 104,621 98,248 -6,373 -6.09%
---------- ---------- -------- -------
TOTAL SHAREHOLDER'S EQUITY 2,874,569 2,938,243 63,674 2.22%
---------- ---------- -------- -------
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY 22,467,998 21,691,817 -776,181 -3.45%
========== ========== ======== =======
(BANCOLOMBIA LOGO)
AUGUST 2005
BANCOLOMBIA S.A.
INCOME STATEMENT AS OF MONTH
(Ps Millions) AUGUST 2005 AUGUST 2005
---------------- ----------- -----------
INTEREST INCOME AND EXPENSES
Interest on loans 1,152,144 149,322
Interest on investment securities 418,802 46,035
Overnight funds 13,881 2,444
TOTAL INTEREST INCOME 1,584,827 197,801
--------- -------
Interest expense
Checking accounts 3,798 513
Time deposits 191,638 21,776
Savings deposits 158,758 20,872
TOTAL INTEREST ON DEPOSITS 354,194 43,161
--------- -------
Interbank borrowings 30,310 4,724
Borrowings from domestic development banks 50,143 5,865
Overnight funds 33,898 2,786
Bonds 77,869 9,556
TOTAL INTEREST EXPENSE 546,414 66,092
--------- -------
NET INTEREST INCOME 1,038,413 131,709
Provision for loan and accrued interest losses, net (83,668) (6,608)
Recovery of charged-off loans 40,619 5,238
Provision for foreclosed assets and other assets (40,531) (4,945)
Recovery of provisions for foreclosed assets and other assets 28,626 4,029
--------- -------
TOTAL NET PROVISIONS (54,954) (2,286)
NET INTEREST INCOME AFTER PROVISION FOR LOANS
AND ACCRUED INTEREST LOSSES 983,459 129,423
--------- -------
Commissions from banking services and other services 39,081 4,244
Electronic services and ATM's fees, net 72,277 7,258
Branch network services, net 31,307 4,432
Collections and payments fees, net 36,873 4,907
Credit card merchant fees, net 6,176 716
Credit and debit card fees, net 135,083 17,647
Checking fees, net 36,122 4,843
Check remittance, net 6,785 972
International operations, net 16,323 2,005
TOTAL FEES AND OTHER SERVICE INCOME 380,027 47,024
--------- -------
Other fees and service expenses (30,134) (4,863)
TOTAL FEES AND INCOME FROM SERVICES, NET 349,893 42,161
--------- -------
OTHER OPERATING INCOME
Net foreign exchange gains (54,442) (1,628)
Forward contracts in foreign currency 108,650 9,746
Dividend income 99,997 24
Communication, rent payments and others 1,119 144
TOTAL OTHER OPERATING INCOME 155,324 8,286
--------- -------
TOTAL INCOME 1,488,676 179,870
OPERATING EXPENSES
Salaries and employee benefits 332,045 42,655
Bonus plan payments 7,146 2,378
Compensation 5,102 591
Administrative and other expenses 440,313 66,067
Deposit security, net 32,980 1,990
Donation expenses 397 15
Depreciation 42,053 5,344
TOTAL OPERATING EXPENSES 860,036 119,040
--------- -------
NET OPERATING INCOME 628,640 60,830
Merger expenses 25,311 2,372
Goodwill amortization Banco de Colombia 15,099 1,887
NON-OPERATING INCOME (EXPENSE)
Other income 32,323 3,638
Other expense (44,246) (4,665)
TOTAL NON-OPERATING INCOME (11,923) (1,027)
INCOME BEFORE INCOME TAXES 576,307 55,544
Income tax expense 106,861 88
--------- -------
NET INCOME 469,446 55,456
--------- -------