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 April 2004
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. 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: April 13, 2004 By /s/ JAIME ALBERTO VELASQUEZ B.
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Name: Jaime Alberto Velasquez B.
Title: Vice President of Finance
[BANCOLOMBIA LOGO]
BANCOLOMBIA REPORTS UNCONSOLIDATED NET INCOME OF PS 45,905
MILLION FOR THE MONTH ENDED MARCH 31, 2004 ACCUMULATING PS 118,407
DURING THE FIRST QUARTER
Medellin, COLOMBIA. April 13, 2004. BANCOLOMBIA (NYSE:CIB)*
BANCOLOMBIA reported unconsolidated net income of Ps 45,905(1) million for the
month ended March 31, 2004. For the three months ended March 31, 2004 the Bank
reported accumulated net income of Ps 118,407 million, 111% higher than for the
same period in 2003.
Total net interest income, including investment securities, amounted to Ps
83,376 million in March 2004 and Ps 245,560 million for the three-month period
ended March 31, 2004. Additionally, total net fees and income from services
amounted to Ps 27,235 million in March 2004 and Ps 72,878 million for the
three-month period ended March 31, 2004.
During March, 2004, the Bank reported dividends income of Ps 25,856. For the
three-month period ended March 31, 2004 the Bank reported accumulated dividends
income of Ps 54,616, 331% higher than for the same period in 2003.
Total assets amounted to Ps 11.5 trillion in March 2004, 18.5% higher than the
reported in March 2003. Total deposits increased approximately 9.2% to Ps 6.9
trillion over the last twelve months. BANCOLOMBIA's total shareholders' equity
amounted to Ps 1.54 trillion in March 2004, which constitutes a 33.7% increase
over the Ps 1.15 trillion reported in March 2003.
BANCOLOMBIA's (unconsolidated) level of past due loans as a percentage of total
loans was 1.8% as of March 31, 2004, and the level of allowance for past due
loans was 287%.
MARKET SHARE
According to ASOBANCARIA (Colombia's national banking association),
BANCOLOMBIA's market share of the Colombian Financial System in March 2004 was
as follows: 12.2% of total deposits, 13.4% of total net loans, 10.4% of total
savings accounts, 17.6% of total checking accounts and 11.3% 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.
1 Exchange Rate April 13, 2004: Ps 2,648.80 = US$ 1. Total outstanding
shares: 576,695,395. 1 ADR= 4 preference shares.
CONTACTS
JAIME A. VELASQUEZ MAURICIO BOTERO WWW.BANCOLOMBIA.COM
FINANCIAL VP IR MANAGER FAX: (574) 2317208
TEL.: (574) 5108666 TEL.: (574) 5108866