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                                                                  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 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-______________.)

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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. 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 5, 2005                By /s/ JAIME ALBERTO VELASQUEZ B.
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                                          Name: Jaime Alberto Velasquez B.
                                          Title: Vice President of Finance

[BANCOLOMBIA LETTERHEAD]                                       [CIB LISTED NYSE]

                     RATIFIED PRESIDENT (CEO) OF BANCOLOMBIA

MEDELLIN, COLOMBIA. APRIL 5, 2005

In an extraordinary meeting, the Board of Directors of BANCOLOMBIA ratified the
appointment of Mr. Jorge Londono Saldarriaga as President (CEO) of BANCOLOMBIA.
In this position, he will continue to direct the merger process with CONAVI and
CORFINSURA.

The Board of Directors also indicated that the other legal representatives will
continue in the positions they currently hold until the completion of the
merger.

Contacts
JAIME A. VELASQUEZ    MAURICIO BOTERO           FAX: (574) 2317208
FINANCIAL VP          IR MANAGER                WWW.BANCOLOMBIA.COM
TEL.: (574) 5108666   TEL.: (574) 5108866       INVESTORRELATIONS@BANCOLOMBIA.CO