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 January 2007
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: January 29, 2007 By /s/ JAIME ALBERTO VELASQUEZ B.
-------------------------------------
Name: Jaime Alberto Velasquez B.
Title: Vice President of Finance
CIB
LISTED
(BANCOLOMBIA LOGO) NYSE
UNCONSOLIDATED NET INCOME OF PS 81,250 MILLION IN DECEMBER
TOTALING PS 582,365 MILLION FOR THE YEAR 2006 *
MEDELLIN, COLOMBIA, JANUARY 29, 2007
BANCOLOMBIA reported unconsolidated net income of Ps 81,250 million during the
past month of December, accumulating Ps 582,365 million for the year 2006.
During December, total net interest income, including investment securities
amounted to Ps 158,173 million. Additionally, total net fees and income from
services totaled in the month Ps 48,094 million.
Total assets amounted to Ps 26.68 trillion, total deposits totaled Ps 18.74
trillion and BANCOLOMBIA's total shareholders' equity amounted to Ps 3.38
trillion.
BANCOLOMBIA's (unconsolidated) level of past due loans as a percentage of total
loans was 2.35% as of December 31, 2006, and the level of allowance for past due
loans was 146.97%.
As previously announced on December 21, 2006, BANCOLOMBIA purchased
mortgage-backed TIPS, fixed rate in Pesos, in a public offering made by
Titularizadora Colombiana S.A. The purchase amounted to Ps. 223,234.8 million.
- BANCOLOMBIA sold mortgage loans to Titularizadora Colombiana amounting
to approximately Ps. 318,657 million. These mortgage loans were
secured by the Titularizadora through the issuance of securities TIPS.
BANCOLOMBIA's profits from the sale of such interest earning mortgage
loans amounted to Ps 2,720 million.
MARKET SHARE
According to ASOBANCARIA (Colombia's national banking association),
BANCOLOMBIA's market share of the Colombian Financial System in November 2006
was as follows: 18.7% of total deposits, 20.3% of total net loans, 19.8% of
total savings accounts, 21.0% of total checking accounts and 13.8% of total time
deposits.
* This report corresponds to the unconsolidated financial statements of
BANCOLOMBIA. 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 and is
stated in nominal terms.
CONTACTOS
SERGIO RESTREPO JAIME A. VELASQUEZ MAURICIO BOTERO
VP EJECUTIVO VP FINANCIERO GERENTE RI
TEL.: (574) 5108668 TEL.: (574) 5108666 TEL.: (574) 5108866
CIB
LISTED
(BANCOLOMBIA LOGO) NYSE
GROWTH
BANCOLOMBIA S.A. AS OF ---------------
BALANCE SHEET ------------------------------------ MONTH ANNUAL
(Ps Millions) DEC-05 NOV-06 DEC-06 % %
---------------- ---------- ---------- ---------- ------ ------
ASSETS
Cash and due from banks 1.111.260 1.051.474 1.378.410 31,09% 24,04%
Overnight funds sold 211.907 231.186 552.522 138,99% 160,74%
TOTAL CASH AND EQUIVALENTS 1.323.167 1.282.660 1.930.932 50,54% 45,93%
DEBT SECURITIES 7.267.866 4.226.693 4.514.991 6,82% -37,88%
Trading 4.796.533 1.989.971 2.112.434 6,15% -55,96%
Available for Sale 1.361.992 1.059.056 1.249.498 17,98% -8,26%
Held to Maturity 1.109.341 1.177.666 1.153.059 -2,09% 3,94%
EQUITY SECURITIES 843.875 895.807 876.283 -2,18% 3,84%
Trading 3.630 2.466 2.478 0,49% -31,74%
Available for Sale 840.245 893.341 873.805 -2,19% 3,99%
Market value allowance -59.924 -39.548 -44.437 12,36% -25,84%
NET INVESTMENT SECURITIES 8.051.817 5.082.952 5.346.837 5,19% -33,59%
Commercial loans 9.527.651 13.421.696 13.511.829 0,67% 41,82%
Consumer loans 2.059.243 2.592.230 2.669.962 3,00% 29,66%
Small business loans 115.029 94.760 91.078 -3,89% -20,82%
Mortgage loans 1.453.686 1.592.664 1.376.436 -13,58% -5,31%
Allowance for loans and financial leases losses -550.304 -611.937 -606.810 -0,84% 10,27%
NET TOTAL LOANS AND FINANCIAL LEASES 12.605.305 17.089.413 17.042.495 -0,27% 35,20%
Accrued interest receivable on loans 151.407 198.639 197.655 -0,50% 30,55%
Allowance for accrued interest losses -7.390 -8.145 -8.288 1,76% 12,15%
NET TOTAL INTEREST ACCRUED 144.017 190.494 189.367 -0,59% 31,49%
Customers' acceptances and derivatives 134.963 193.931 166.438 -14,18% 23,32%
Net accounts receivable 383.278 284.726 355.054 24,70% -7,36%
Net premises and equipment 336.781 362.322 370.070 2,14% 9,88%
Foreclosed assets 29.478 16.952 16.567 -2,27% -43,80%
Prepaid expenses and deferred charges 13.606 28.326 26.261 -7,29% 93,01%
Goodwill 50.959 42.468 40.164 -5,43% -21,18%
Other 159.187 530.041 464.118 -12,44% 191,56%
Reappraisal of assets 673.943 739.942 735.445 -0,61% 9,13%
---------- ---------- ---------- ------ ------
TOTAL ASSETS 23.906.501 25.844.227 26.683.748 3,25% 11,62%
========== ========== ========== ====== ======
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
DEPOSITS
NON-INTEREST BEARING 3.647.560 3.781.653 4.937.964 30,58% 35,38%
Checking accounts 3.292.768 3.465.836 4.475.036 29,12% 35,90%
Other 354.792 315.817 462.928 46,58% 30,48%
INTEREST BEARING 10.578.919 13.586.348 13.806.018 1,62% 30,50%
Checking accounts 278.139 309.010 352.211 13,98% 26,63%
Time deposits 2.840.184 3.590.911 3.481.386 -3,05% 22,58%
Savings deposits 7.460.596 9.686.427 9.972.421 2,95% 33,67%
TOTAL DEPOSITS 14.226.479 17.368.001 18.743.982 7,92% 31,75%
Overnight funds 1.012.348 752.069 837.663 11,38% -17,26%
Bank acceptances outstanding 62.502 98.948 62.168 -37,17% -0,53%
Interbank borrowings 1.706.611 1.083.073 1.010.340 -6,72% -40,80%
Borrowings from domestic development banks 978.705 723.525 717.669 -0,81% -26,67%
Accounts payable 952.592 1.062.255 746.176 -29,76% -21,67%
Accrued interest payable 124.904 122.451 118.838 -2,95% -4,86%
Other liabilities 342.130 203.437 268.124 31,80% -21,63%
Bonds 1.195.719 750.854 702.256 -6,47% -41,27%
Accrued expenses 88.619 386.090 99.267 -74,29% 12,02%
---------- ---------- ---------- ------ ------
TOTAL LIABILITIES 20.690.609 22.550.703 23.306.483 3,35% 12,64%
========== ========== ========== ====== ======
SHAREHOLDER'S EQUITY 0,00% 0,00%
SUBSCRIBED AND PAID IN CAPITAL 363.914 363.914 363.914 0,00% 0,00%
RETAINED EARNINGS 1.598.679 1.730.058 1.811.308 4,70% 13,30%
Appropiated 861.290 1.228.943 1.228.943 0,00% 42,69%
Unappropiated 737.389 501.115 582.365 16,21% -21,02%
REAPPRAISAL AND OTHERS 1.195.934 1.198.704 1.194.210 -0,37% -0,14%
GROSS UNREALIZED GAIN OR LOSS ON DEBT SECURITIES 57.365 848 7.833 823,70% -86,35%
---------- ---------- ---------- ------ ------
TOTAL SHAREHOLDER'S EQUITY 3.215.892 3.293.524 3.377.265 2,54% 5,02%
========== ========== ========== ====== ======
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY 23.906.501 25.844.227 26.683.748 3,25% 11,62%
========== ========== ========== ====== ======
CIB
LISTED
(BANCOLOMBIA LOGO) NYSE
BANCOLOMBIA S.A. ACCUMULATED GROWTH MONTH GROWTH
INCOME STATEMENT --------------------- ANNUAL ----------------- MONTH
(Ps Millions) DEC-05 DEC-06 % NOV-06 DEC-06 %
---------------- --------- --------- ------- ------- ------- -------
INTEREST INCOME AND EXPENSES
Interest on loans 1.750.753 1.896.467 8,32% 174.536 189.775 8,73%
Interest on investment securities 678.350 166.753 -75,42% 21.532 31.886 48,09%
Overnight funds 22.990 29.049 26,35% 2.396 4.162 73,71%
TOTAL INTEREST INCOME 2.452.093 2.092.269 -14,67% 198.464 225.823 13,79%
Interest expense
Checking accounts 5.991 7.797 30,15% 554 939 69,49%
Time deposits 267.166 219.760 -17,74% 23.104 16.747 -27,51%
Savings deposits 241.245 264.087 9,47% 25.985 30.956 19,13%
TOTAL INTEREST ON DEPOSITS 514.402 491.644 -4,42% 49.643 48.642 -2,02%
Interbank borrowings 52.148 95.536 83,20% 3.329 5.512 65,58%
Borrowings from domestic development banks 72.007 55.193 -23,35% 4.171 4.047 -2,97%
Overnight funds 46.699 65.179 39,57% 6.618 4.516 -31,76%
Bonds 112.779 75.866 -32,73% 5.473 4.933 -9,87%
TOTAL INTEREST EXPENSE 798.035 783.418 -1,83% 69.234 67.650 -2,29%
NET INTEREST INCOME 1.654.058 1.308.851 -20,87% 129.230 158.173 22,40%
Provision for loan and accrued interest losses, net (134.378) (173.890) 29,40% (6.944) 1.700 -124,48%
Recovery of charged-off loans 58.160 64.879 11,55% 8.670 5.049 -41,76%
Provision for foreclosed assets and other assets (82.492) (34.132) -58,62% (11.619) 2.407 -120,72%
Recovery of provisions for foreclosed assets and other assets 55.663 81.511 46,44% 4.489 12.996 189,51%
TOTAL NET PROVISIONS (103.047) (61.632) -40,19% (5.404) 22.152 -509,92%
NET INTEREST INCOME AFTER PROVISION FOR LOANS
AND ACCRUED INTEREST LOSSES 1.551.011 1.247.219 -19,59% 123.826 180.325 45,63%
Commissions from banking services and other services 67.438 83.167 23,32% 6.262 9.726 55,32%
Electronic services and ATM's fees, net 101.299 85.049 -16,04% 5.754 7.271 26,36%
Branch network services, net 48.984 62.403 27,39% 8.063 9.184 13,90%
Collections and payments fees, net 56.670 74.708 31,83% 8.026 8.507 5,99%
Credit card merchant fees, net 10.076 8.150 -19,11% 531 977 83,99%
Credit and debit card fees, net 205.606 238.898 16,19% 21.109 16.425 -22,19%
Checking fees, net 54.958 60.261 9,65% 5.130 5.914 15,28%
Check remittance, net 10.579 11.040 4,36% 855 837 -2,11%
International operations, net 23.141 28.089 21,38% 2.385 2.575 7,97%
TOTAL FEES AND OTHER SERVICE INCOME 578.751 651.765 12,62% 58.115 61.416 5,68%
Other fees and service expenses (55.055) (83.345) 51,38% (7.482) (13.322) 78,05%
TOTAL FEES AND INCOME FROM SERVICES, NET 523.696 568.420 8,54% 50.633 48.094 -5,01%
OTHER OPERATING INCOME
Net foreign exchange gains (51.287) 65.383 -227,48% 5.931 (20.474) -445,20%
Forward contracts in foreign currency 140.833 48.787 -65,36% 10.996 29.518 168,44%
Gains on sales of investments on equity securities 7.859 63.913 713,25% -- (3.408) *
Gains on sale of mortgage loan -- 14.371 * -- 2.720 *
Dividend income 100.066 128.188 28,10% (414) -- *
Communication, rent payments and others 1.668 1.565 -6,18% 115 115 0,00%
TOTAL OTHER OPERATING INCOME 199.139 322.207 61,80% 16.628 8.471 -49,06%
TOTAL INCOME 2.273.846 2.137.846 -5,98% 191.087 236.890 23,97%
OPERATING EXPENSES
Salaries and employee benefits 502.604 555.075 10,44% 50.199 53.086 5,75%
Bonus plan payments 19.126 28.858 50,88% 11.938 1.885 -84,21%
Compensation 7.189 5.680 -20,99% 542 2.022 273,06%
Administrative and other expenses 643.934 672.213 4,39% 61.449 75.699 23,19%
Deposit security, net 48.574 57.331 18,03% 5.234 4.113 -21,42%
Donation expenses 448 22.479 4917,63% 1.328 20.968 1478,92%
Depreciation 65.494 80.042 22,21% 7.558 9.584 26,81%
TOTAL OPERATING EXPENSES 1.287.369 1.421.678 10,43% 138.248 167.357 21,06%
NET OPERATING INCOME 986.477 716.168 -27,40% 52.839 69.533 31,59%
Merger expenses 37.148 35.779 -3,69% 3.175 889 -72,00%
Goodwill amortization 22.648 25.814 13,98% 2.305 2.304 -0,04%
NON-OPERATING INCOME (EXPENSE)
Other income 89.826 160.795 79,01% 1.611 21.093 1209,31%
Other expense (87.447) (133.601) 52,78% (5.124) (12.618) 146,25%
TOTAL NON-OPERATING INCOME 2.379 27.194 1043,09% (3.513) 8.475 -341,25%
INCOME BEFORE INCOME TAXES 929.060 681.769 -26,62% 43.846 74.815 70,63%
Income tax expense (191.671) (99.404) -48,14% 3 6.435 *
--------- --------- ------- ------- ------- -------
NET INCOME 737.389 582.365 -21,02% 43.849 81.250 85,29%
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