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 May 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-______________.)
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: May 11, 2005 By /s/ JAIME ALBERTO VELASQUEZ B.
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Name: Jaime Alberto Velasquez B.
Title: Vice President of Finance
[Logo of Bancolombia] [GRAPHIC OMITTED NYSE]
BANCOLOMBIA REPORTS UNCONSOLIDATED NET INCOME OF PS 191,512
MILLION DURING THE FIRST FOUR MONTHS OF 2005
Medellin, COLOMBIA. May 11, 2005
BANCOLOMBIA reported unconsolidated net income of Ps 43,047 million for the
month ended April 30, 2005. For the first four months of 2005 the Bank reported
accumulated net income of Ps 191,512 million, 41.8% higher than for the same
period in 2004*.
Total net interest income, including investment securities, amounted to Ps
99,090 million in April 2005 and Ps 339,983 million for the four-month period
ended April 30, 2005. Additionally, total net fees and income from services
amounted to Ps 29,534 million in April 2005 and Ps 112,152 million for the
period ended April 30, 2005.
Total assets amounted to Ps 14.59 trillion in April 2005, 24.5% higher than the
reported in April 2004. Total deposits increased approximately 23.3% to Ps 8.75
trillion over the last twelve months. BANCOLOMBIA's total shareholders' equity
amounted to Ps 1.90 trillion in April 2005, which constitutes a 20.9% increase
over the Ps 1.57 trillion reported in April 2004.
BANCOLOMBIA's (unconsolidated) level of past due loans as a percentage of total
loans was 1.84% as of April 30, 2005, and the level of allowance for past due
loans was 232%.
Market Share
According to ASOBANCARIA (Colombia's national banking association),
BANCOLOMBIA's market share of the Colombian Financial System in April 2005 was
as follows: 12.2% of total deposits, 14.5% of total net loans, 10.2% of total
savings accounts, 18.0% of total checking accounts and 11.4% 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.
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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