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 December 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- .)
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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: December 13, 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
BANCOLOMBIA REPORTS UNCONSOLIDATED NET INCOME OF PS $652,794
MILLION DURING THE FIRST ELEVEN MONTHS OF 2005
MEDELLIN, COLOMBIA. DECEMBER 13, 2005
BANCOLOMBIA reported accumulated unconsolidated net income of Ps $652,794
million as of November 30, 2005. For the first eleven months of 2005, the total
net interest, including investment securities amounted to Ps $1,513,142 million.
Additionally, total net fees and income from services amounted to Ps $476,173
million.
Total assets amounted to Ps 23.31 trillion in November 2005, total deposits
totaled Ps 13.99 trillion and BANCOLOMBIA's total shareholders' equity amounted
to Ps 3.18 trillion.
BANCOLOMBIA's (unconsolidated) level of past due loans as a percentage of total
loans was 3.74% as of November 30, 2005, and the level of allowance for past due
loans was 115.35%.
MARKET SHARE
According to ASOBANCARIA (Colombia's national banking association),
BANCOLOMBIA's market share of the Colombian Financial System in November 2005
was as follows: 17.2% of total deposits, 21.1% of total net loans, 17.9% of
total savings accounts, 17.9% of total checking accounts and 15.0% of total time
deposits.
*This report corresponds to the unconsolidated financial statements of
BANCOLOMBIA, giving effect to the merger. 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.
CONTACTS
Sergio Restrepo Jaime A. Velasquez Mauricio Botero
Executive VP Financial VP IR Manager
Tel.: (574) 3120332 Tel.: (574) 5108666 Tel.: (574) 5108866
[BANCOLOMBIA LOGO]
NOVEMBER 2005
BANCOLOMBIA S.A. GROWTH
BALANCE SHEET AS OF NOV05/OCT05
(Ps Millions) OCT-05 NOV-05 $ %
---------- ---------- -------- ---------
ASSETS
Cash and due from banks 968.642 1.215.011 246.369 25,43%
Overnight funds sold 79.811 41.322 -38.489 -48,23%
TOTAL CASH AND EQUIVALENTS 1.048.453 1.256.333 207.880 19,83%
---------- ---------- -------- ---------
DEBT SECURITIES 6.644.420 6.722.466 78.046 1,17%
Trading 3.613.165 4.186.203 573.038 15,86%
Available for Sale 1.730.391 1.446.062 -284.329 -16,43%
Held to Maturity 1.300.864 1.090.201 -210.663 -16,19%
EQUITY SECURITIES 801.047 931.500 130.453 16,29%
Trading 425 121.014 120.589 28373,88%
Available for Sale 800.622 810.486 9.864 1,23%
Market value allowance -37.954 -44.359 -6.405 16,88%
NET INVESTMENT SECURITIES 7.407.513 7.609.607 202.094 2,73%
---------- ---------- -------- ---------
Commercial loans 9.319.804 9.451.869 132.065 1,42%
Consumer loans 2.010.039 2.012.972 2.933 0,15%
Small business loans 97.080 116.461 19.381 19,96%
Mortgage loans 1.467.369 1.486.687 19.318 1,32%
Allowance for loans and financial leases losses -545.113 -559.571 -14.458 2,65%
NET TOTAL LOANS AND FINANCIAL LEASES 12.349.179 12.508.418 159.239 1,29%
---------- ---------- -------- ---------
Accrued interest receivable on loans 158.442 162.938 4.496 2,84%
Allowance for accrued interest losses -9.524 -10.160 -636 6,68%
NET TOTAL INTEREST ACCRUED 148.918 152.778 3.860 2,59%
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Customers' acceptances and derivatives 152.797 142.711 -10.086 -6,60%
Net accounts receivable 155.173 179.964 24.791 15,98%
Net premises and equipment 343.507 344.225 718 0,21%
Foreclosed assets 36.771 31.329 -5.442 -14,80%
Prepaid expenses and deferred charges 18.253 10.841 -7.412 -40,61%
Goodwill 54.734 52.847 -1.887 -3,45%
Other 266.910 296.761 29.851 11,18%
Reappraisal of assets 705.713 723.388 17.675 2,50%
--------- ---------- -------- ---------
TOTAL ASSETS 22.687.921 23.309.202 621.281 2,74%
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LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
DEPOSITS
NON-INTEREST BEARING 2.766.967 2.975.346 208.379 7,53%
Checking accounts 2.497.776 2.620.324 122.548 4,91%
Other 269.191 355.022 85.831 31,88%
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INTEREST BEARING 10.842.586 11.015.698 173.112 1,60%
Checking accounts 171.517 185.656 14.139 8,24%
Time deposits 3.135.097 3.000.195 -134.902 -4,30%
Savings deposits 7.535.972 7.829.847 293.875 3,90%
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TOTAL DEPOSITS 13.609.553 13.991.044 381.491 2,80%
Overnight funds 983.386 649.841 -333.545 -33,92%
Bank acceptances outstanding 69.872 61.362 -8.510 -12,18%
Interbank borrowings 1.478.910 1.710.635 231.725 15,67%
Borrowings from domestic development banks 880.531 865.345 -15.186 -1,72%
Accounts payable 549.971 843.602 293.631 53,39%
Accrued interest payable 137.345 126.460 -10.885 -7,93%
Other liabilities 256.642 256.821 179 0,07%
Bonds 1.284.149 1.267.040 -17.109 -1,33%
Accrued expenses 338.996 357.776 18.780 5,54%
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TOTAL LIABILITIES 19.589.355 20.129.926 540.571 2,76%
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SHAREHOLDER'S EQUITY
SUBSCRIBED AND PAID IN CAPITAL 363.914 363.914 0 0,00%
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RETAINED EARNINGS 1.461.310 1.514.084 52.774 3,61%
Appropiated 861.300 861.290 -10 0,00%
Unappropiated 600.010 652.794 52.784 8,80%
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REAPPRAISAL AND OTHERS 1.211.343 1.239.231 27.888 2,30%
GROSS UNREALIZED GAIN OR LOSS ON DEBT SECURITIES 61.999 62.047 48 0,08%
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TOTAL SHAREHOLDER'S EQUITY 3.098.566 3.179.276 80.710 2,60%
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY 22.687.921 23.309.202 621.281 2,74%
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[BANCOLOMBIA LOGO]
NOVEMBER 2005
BANCOLOMBIA S.A.
INCOME STATEMENT ACCUMULATED GROWTH MONTH GROWTH
(Ps Millions) OCT-05 NOV-05 % OCT-05 NOV-05 %
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INTEREST INCOME AND EXPENSES
Interest on loans 1.455.365 1.597.577 9,77% 151.821 142.212 -6,33%
Interest on investment securities 564.996 630.256 11,55% 20.402 65.260 219,87%
Overnight funds 17.752 21.020 18,41% 1.922 3.268 70,03%
TOTAL INTEREST INCOME 2.038.113 2.248.853 10,34% 174.145 210.740 21,01%
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Interest expense
Checking accounts 4.970 5.408 8,81% 580 438 -24,48%
Time deposits 231.518 249.844 7,92% 19.213 18.326 -4,62%
Savings deposits 200.033 220.791 10,38% 21.317 20.758 -2,62%
TOTAL INTEREST ON DEPOSITS 436.521 476.043 9,05% 41.110 39.522 -3,86%
--------- ---------- ------ -------- -------- --------
Interbank borrowings 40.135 45.792 14,09% 5.114 5.657 10,62%
Borrowings from domestic development banks 61.438 66.818 8,76% 5.585 5.380 -3,67%
Overnight funds 39.703 42.560 7,20% 3.345 2.857 -14,59%
Bonds 95.822 104.498 9,05% 8.958 8.676 -3,15%
TOTAL INTEREST EXPENSE 673.619 735.711 9,22% 64.112 62.092 -3,15%
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NET INTEREST INCOME 1.364.494 1.513.142 10,89% 110.033 148.648 35,09%
Provision for loan and accrued interest losses, net (122.746) (138.853) 13,12% (15.316) (16.107) 5,16%
Recovery of charged-off loans 62.856 67.199 6,91% 18.929 4.343 -77,06%
Provision for foreclosed assets and other assets (61.979) (74.687) 20,50% (14.148) (12.708) -10,18%
Recovery of provisions for foreclosed assets and other
assets 32.473 35.130 8,18% 2.426 2.657 9,52%
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TOTAL NET PROVISIONS (89.396) (111.211) 24,40% (8.109) (21.815) 169,02%
NET INTEREST INCOME AFTER PROVISION FOR LOANS
AND ACCRUED INTEREST LOSSES 1.275.098 1.401.931 9,95% 101.924 126.833 24,44%
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Commissions from banking services and other services 49.843 56.209 12,77% 5.086 6.366 25,17%
Electronic services and ATM's fees, net 85.766 92.405 7,74% 6.995 6.639 -5,09%
Branch network services, net 39.828 44.080 10,68% 4.185 4.252 1,60%
Collections and payments fees, net 46.296 51.217 10,63% 4.613 4.921 6,68%
Credit card merchant fees, net 8.448 8.821 4,42% 1.061 373 -64,84%
Credit and debit card fees, net 171.815 187.457 9,10% 18.848 15.642 -17,01%
Checking fees, net 45.357 49.844 9,89% 4.418 4.487 1,56%
Check remittance, net 8.585 9.557 11,32% 862 972 12,76%
International operations, net 19.731 21.284 7,87% 1.714 1.553 -9,39%
TOTAL FEES AND OTHER SERVICE INCOME 475.669 520.874 9,50% 47.782 45.205 -5,39%
--------- ---------- ------ -------- -------- --------
Other fees and service expenses (39.983) (44.701) 11,80% (5.485) (4.718) -13,98%
TOTAL FEES AND INCOME FROM SERVICES, NET 435.686 476.173 9,29% 42.297 40.487 -4,28%
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OTHER OPERATING INCOME
Net foreign exchange gains (58.699) (59.744) 1,78% 4.564 (1.045) -122,90%
Forward contracts in foreign currency 132.459 135.543 2,33% 8.395 3.084 -63,26%
Dividend income 99.997 100.066 0,07% - 69 0,00%
Communication, rent payments and others 1.390 1.526 9,78% 135 136 0,74%
TOTAL OTHER OPERATING INCOME 175.147 177.391 1,28% 13.094 2.244 -82,86%
--------- ---------- ------ -------- -------- --------
TOTAL INCOME 1.885.931 2.055.495 8,99% 157.315 169.564 7,79%
OPERATING EXPENSES
Salaries and employee benefits 421.809 466.749 10,65% 43.721 44.940 2,79%
Bonus plan payments 13.882 16.983 22,34% 1.866 3.101 66,18%
Compensation 7.046 7.031 -0,21% 1.197 (15) -101,25%
Administrative and other expenses 549.452 582.645 6,04% 43.551 33.193 -23,78%
Deposit security, net 39.922 44.248 10,84% 2.227 4.326 94,25%
Donation expenses 422 435 3,08% 12 13 8,33%
Depreciation 54.107 60.307 11,46% 5.237 6.200 18,39%
TOTAL OPERATING EXPENSES 1.086.640 1.178.398 8,44% 97.811 91.758 -6,19%
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NET OPERATING INCOME 799.291 877.097 9,73% 59.504 77.806 30,76%
Merger expenses 34.982 35.854 2,49% 4.406 872 -80,21%
Goodwill amortization Banco de Colombia 18.874 20.761 10,00% 1.888 1.887 -0,05%
NON-OPERATING INCOME (EXPENSE)
Other income 35.675 38.306 7,37% 1.070 2.631 145,89%
Other expense (57.686) (64.950) 12,59% (2.597) (7.264) 179,71%
TOTAL NON-OPERATING INCOME (22.011) (26.644) 21,05% (1.527) (4.633) 203,41%
INCOME BEFORE INCOME TAXES 723.424 793.838 9,73% 51.683 70.414 36,24%
Income tax expense (123.414) (141.044) 14,29% (6.173) (17.630) 185,60%
--------- ---------- ------ -------- -------- --------
NET INCOME 600.010 652.794 8,80% 45.510 52.784 15,98%
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