-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, R+QumVElZld8060nqiyYkh7fl6qUeXABYsbf6imzxlkxAUhn3nr6gfo/VqLuRk3Y vf+GY8hJuGJ+YWAUuTOPog== 0000950123-06-014268.txt : 20061117 0000950123-06-014268.hdr.sgml : 20061117 20061117074219 ACCESSION NUMBER: 0000950123-06-014268 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20061110 FILED AS OF DATE: 20061117 DATE AS OF CHANGE: 20061117 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BANCOLOMBIA SA CENTRAL INDEX KEY: 0001071371 STANDARD INDUSTRIAL CLASSIFICATION: COMMERCIAL BANKS, NEC [6029] IRS NUMBER: 000000000 STATE OF INCORPORATION: F8 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32535 FILM NUMBER: 061224877 BUSINESS ADDRESS: STREET 1: CARRERA 52 #50-20 STREET 2: CALLE 50 #51-66 CITY: MEDELLIN STATE: F8 ZIP: 00000 BUSINESS PHONE: 5745108866 MAIL ADDRESS: STREET 1: CARRERA 52 #50-20 STREET 2: CALLE 50 #51-66 CITY: MEDELLIN STATE: F8 ZIP: 00000 6-K 1 y26874be6vk.txt FORM 6-K 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 November 2006 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: November 10, 2006 By /s/ JAIME ALBERTO VELASQUEZ B. ------------------------------------- Name: Jaime Alberto Velasquez B. Title: Vice President of Finance (BANCOLOMBIA LOGO) (CIB LISTED NYSE LOGO) UNCONSOLIDATED NET INCOME OF PS 63,380 MILLION IN OCTOBER TOTALING PS 457,266 FOR THE FIRST TEN MONTHS OF 2006 * MEDELLIN, COLOMBIA. NOVEMBER 10, 2006 BANCOLOMBIA reported unconsolidated net income of Ps 63,380 million for the past month of October, accumulating Ps 457,266 million for the first ten months of 2006. During October, total net interest income, including investments amounted to Ps 141,199 million. Additionally, total net fees and income from services amounted to Ps 49,015 million in the month. As of October 31, 2006, BANCOLOMBIA's total assets amounted to Ps 25.60 trillion, total deposits totaled Ps 16.61 trillion and total shareholders' equity amounted to Ps 3.26 trillion. Also as of October 31, 2006, BANCOLOMBIA's level of past due loans as a percentage of total loans was 2.51% and the level of allowance for past due loans was 140.20%. As previously announced on October 12, 2006, BANCOLOMBIA purchased mortgage-backed securities called TIPS, indexed to the UVR (Unidad de Valor Real), for approximately Ps 490,000 million in a public offering made by Titularizadora Colombiana S.A. All such TIPs were classified as "Held to Maturity". Other operating income amounted to $35,896 million in October basically due to two non recurrent events: - BANCOLOMBIA sold through the Colombian Stock Exchange (Bolsa de Valores de Colombia), the last part of the stake it held in Corfinversiones (now Compania de Suramericana de Inversiones S.A.) which was received as a result of the spin-off of Corfinsura S.A.. Since Colombian regulations do not allow banks to have equity investments in non-financial companies, the Superintendency of Finance determined that BANCOLOMBIA would have a period of two years to sell such investment. BANCOLOMBIA's profits from the sale of such investment amounted to Ps 24,193 million. - BANCOLOMBIA sold mortgage loans to Titularizadora Colombiana amounting to approximately Ps. 580,000 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 11,651 million. MARKET SHARE According to ASOBANCARIA (Colombia's national banking association), BANCOLOMBIA's market share of the Colombian Financial System in October 2006 was as follows: 17.8% of total deposits, 20.6% of total net loans, 18.0% of total savings accounts, 21.6% of total checking accounts and 14.3% of total time deposits. * This report corresponds to the unconsolidated interim 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, is stated in nominal terms and has not been audited. CONTACTS SERGIO RESTREPO JAIME A. VELASQUEZ MAURICIO BOTERO EXECUTIVE VP FINANCIAL VP IR MANAGER TEL: (574) 5108668 TEL: (574) 5108666 TEL: (574) 5108866 (BANCOLOMBIA LOGO) OCTOBER 2006
GROWTH BANCOLOMBIA S.A. --------------- BALANCE SHEET AS OF MONTH ANNUAL (PS MILLIONS) OCT-05 SEP-06 OCT-06 % % - ---------------- ---------- ---------- ---------- ------ ------ ASSETS Cash and due from banks 968,642 1,417,398 1,275,187 -10.03% 31.65% Overnight funds sold 79,811 39,554 20,315 -48.64% -74.55% TOTAL CASH AND EQUIVALENTS 1,048,453 1,456,952 1,295,502 -11.08% 23.56% DEBT SECURITIES 6,644,420 4,002,437 4,481,634 11.97% -32.55% Trading 3,613,165 2,008,523 2,025,601 0.85% -43.94% Available for Sale 1,730,391 1,166,161 1,137,225 -2.48% -34.28% Held to Maturity 1,300,864 827,753 1,318,808 59.32% 1.38% EQUITY SECURITIES 801,047 922,094 896,455 -2.78% 11.91% Trading 425 2,845 2,852 0.25% 571.06% Available for Sale 800,622 919,249 893,603 -2.79% 11.61% Market value allowance -37,954 -39,548 -39,548 0.00% 4.20% NET INVESTMENT SECURITIES 7,407,513 4,884,983 5,338,541 9.28% -27.93% Commercial loans 9,319,804 12,636,451 13,094,632 3.63% 40.50% Consumer loans 2,010,039 2,466,936 2,495,260 1.15% 24.14% Small business loans 97,080 94,532 95,136 0.64% -2.00% Mortgage loans 1,467,369 1,970,598 1,493,370 -24.22% 1.77% Allowance for loans and financial leases losses -545,113 -584,401 -602,379 3.08% 10.51% NET TOTAL LOANS AND FINANCIAL LEASES 12,349,179 16,584,116 16,576,019 -0.05% 34.23% Accrued interest receivable on loans 158,442 176,424 187,158 6.08% 18.12% Allowance for accrued interest losses -9,524 -7,505 -7,929 5.65% -16.75% NET TOTAL INTEREST ACCRUED 148,918 168,919 179,229 6.10% 20.35% Customers' acceptances and derivatives 152,797 128,997 158,802 23.11% 3.93% Net accounts receivable 155,173 218,702 266,807 22.00% 71.94% Net premises and equipment 343,507 364,470 363,637 -0.23% 5.86% Foreclosed assets 36,771 23,185 19,159 -17.36% -47.90% Prepaid expenses and deferred charges 18,253 29,551 39,682 34.28% 117.40% Goodwill 54,734 47,077 44,773 -4.89% -18.20% Other 266,910 578,341 569,510 -1.53% 113.37% Reappraisal of assets 705,713 726,297 745,983 2.71% 5.71% ---------- ---------- ---------- ------ ------ TOTAL ASSETS 22,687,921 25,211,590 25,597,644 1.53% 12.82% ========== ========== ========== ====== ====== LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIES DEPOSITS NON-INTEREST BEARING 2,766,967 3,461,152 3,426,173 -1.01% 23.82% Checking accounts 2,497,776 3,135,895 3,187,943 1.66% 27.63% Other 269,191 325,257 238,230 -26.76% -11.50% INTEREST BEARING 10,842,586 12,620,917 13,182,220 4.45% 21.58% Checking accounts 171,517 240,404 288,333 19.94% 68.11% Time deposits 3,135,097 3,680,652 3,929,486 6.76% 25.34% Savings deposits 7,535,972 8,699,861 8,964,401 3.04% 18.95% TOTAL DEPOSITS 13,609,553 16,082,069 16,608,393 3.27% 22.03% Overnight funds 983,386 1,484,188 1,765,456 18.95% 79.53% Bank acceptances outstanding 69,872 77,527 80,522 3.86% 15.24% Interbank borrowings 1,478,910 1,260,197 938,620 -25.52% -36.53% Borrowings from domestic development banks 880,531 787,393 768,553 -2.39% -12.72% Accounts payable 549,971 722,420 546,631 -24.33% -0.61% Accrued interest payable 137,345 122,387 129,838 6.09% -5.47% Other liabilities 256,642 247,884 269,557 8.74% 5.03% Bonds 1,284,149 891,868 872,140 -2.21% -32.08% Accrued expenses 338,996 339,764 359,855 5.91% 6.15% ---------- ---------- ---------- ------ ------ TOTAL LIABILITIES 19,589,355 22,015,697 22,339,565 1.47% 14.04% ========== ========== ========== ====== ====== SHAREHOLDER'S EQUITY SUBSCRIBED AND PAID IN CAPITAL 363,914 363,914 363,914 0.00% 0.00% RETAINED EARNINGS 1,461,310 1,622,829 1,686,209 3.91% 15.39% Appropiated 861,300 1,228,943 1,228,943 0.00% 42.68% Unappropiated 600,010 393,886 457,266 16.09% -23.79% REAPPRAISAL AND OTHERS 1,211,343 1,208,358 1,204,745 -0.30% -0.54% GROSS UNREALIZED GAIN OR LOSS ON DEBT SECURITIES 61,999 792 3,211 305.43% -94.82% ---------- ---------- ---------- ------ ------ TOTAL SHAREHOLDER'S EQUITY 3,098,566 3,195,893 3,258,079 1.95% 5.15% TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY 22,687,921 25,211,590 25,597,644 1.53% 12.82% ========== ========== ========== ====== ======
(BANCOLOMBIA LOGO) OCTOBER 2006
BANCOLOMBIA S.A. ACCUMULATED GROWTH MONTH GROWTH INCOME STATEMENT ---------------------- ANNUAL ------------------- MONTH (PS MILLIONS) OCT-05 OCT-06 % SEP-06 OCT-06 % - ---------------- ---------- --------- ------- -------- -------- -------- INTEREST INCOME AND EXPENSES Interest on loans 1,455,365 1,532,156 5.28% 169,630 174,654 2.96% Interest on investment securities 556,701 113,335 -79.64% 39,082 32,747 -16.21% Overnight funds 17,752 22,491 26.70% 2,025 2,334 15.26% TOTAL INTEREST INCOME 2,029,818 1,667,982 -17.83% 210,737 209,735 -0.48% Interest expense Checking accounts 4,970 6,304 26.84% 613 552 -9.95% Time deposits 231,518 179,909 -22.29% 19,464 19,689 1.16% Savings deposits 200,033 207,146 3.56% 24,063 23,429 -2.63% TOTAL INTEREST ON DEPOSITS 436,521 393,359 -9.89% 44,140 43,670 -1.06% Interbank borrowings 40,135 86,695 116.01% 7,461 6,451 -13.54% Borrowings from domestic development banks 61,438 46,975 -23.54% 4,360 4,454 2.16% Overnight funds 39,703 54,045 36.12% 5,379 7,999 48.71% Bonds 95,822 65,460 -31.69% 5,872 5,962 1.53% TOTAL INTEREST EXPENSE 673,619 646,534 -4.02% 67,212 68,536 1.97% NET INTEREST INCOME 1,356,199 1,021,448 -24.68% 143,525 141,199 -1.62% Provision for loan and accrued interest losses, net (122,746) (168,646) 37.39% (25,776) (26,933) 4.49% Recovery of charged-off loans 62,856 51,160 -18.61% 6,338 5,132 -19.03% Provision for foreclosed assets and other assets (61,979) (24,920) -59.79% 122 (5,096) -4277.05% Recovery of provisions for foreclosed assets and other assets 32,473 64,026 97.17% 754 2,960 292.57% TOTAL NET PROVISIONS (89,396) (78,380) -12.32% (18,562) (23,937) 28.96% NET INTEREST INCOME AFTER PROVISION FOR LOANS AND ACCRUED INTEREST LOSSES 1,266,803 943,068 -25.56% 124,963 117,262 -6.16% Commissions from banking services and other services 49,843 67,179 34.78% 6,294 7,169 13.90% Electronic services and ATM's fees, net 85,766 72,024 -16.02% 7,468 7,185 -3.79% Branch network services, net 39,828 45,156 13.38% 4,767 4,860 1.95% Collections and payments fees, net 46,296 58,175 25.66% 5,737 6,609 15.20% Credit card merchant fees, net 8,448 6,642 -21.38% 670 648 -3.28% Credit and debit card fees, net 171,815 201,364 17.20% 18,714 21,180 13.18% Checking fees, net 45,357 49,217 8.51% 4,981 4,706 -5.52% Check remittance, net 8,585 9,348 8.89% 909 1,011 11.22% International operations, net 19,731 23,129 17.22% 2,304 2,646 14.84% TOTAL FEES AND OTHER SERVICE INCOME 475,669 532,234 11.89% 51,844 56,014 8.04% Other fees and service expenses (39,983) (62,541) 56.42% (7,422) (6,999) -5.70% TOTAL FEES AND INCOME FROM SERVICES, NET 435,686 469,693 7.81% 44,422 49,015 10.34% OTHER OPERATING INCOME Net foreign exchange gains (58,699) 79,926 -236.16% 3,893 (23,114) -693.73% Forward contracts in foreign currency 132,459 8,273 -93.75% (6,867) 34,640 -604.44% Gains on sales of investments on equity securities 8,295 67,321 711.59% -- 24,193 * Gains on sale of mortgage loan -- 11,651 * -- 11,651 * Dividend income 99,997 128,602 28.61% -- 31 * Communication, rent payments and others 1,390 1,335 -3.96% 128 146 14.06% TOTAL OTHER OPERATING INCOME 183,442 297,108 61.96% (2,846) 47,547 -1770.66% TOTAL INCOME 1,885,931 1,709,869 -9.34% 166,539 213,824 28.39% OPERATING EXPENSES Salaries and employee benefits 421,809 451,790 7.11% 46,338 47,219 1.90% Bonus plan payments 13,882 15,035 8.31% 3,363 2,959 -12.01% Compensation 7,046 3,116 -55.78% 313 433 38.34% Administrative and other expenses 549,452 535,065 -2.62% 57,539 61,041 6.09% Deposit security, net 39,922 47,984 20.19% 5,068 6,346 25.22% Donation expenses 422 183 -56.64% 25 27 8.00% Depreciation 54,107 62,900 16.25% 7,698 6,642 -13.72% TOTAL OPERATING EXPENSES 1,086,640 1,116,073 2.71% 120,344 124,667 3.59% NET OPERATING INCOME 799,291 593,796 -25.71% 46,195 89,157 93.00% Merger expenses 34,982 31,715 -9.34% 6,981 5,412 -22.48% Goodwill amortization 18,874 21,205 12.35% 2,304 2,305 0.04% NON-OPERATING INCOME (EXPENSE) Other income 35,675 138,091 287.08% 3,155 4,225 33.91% Other expense (57,686) (115,859) 100.84% (9,631) (5,245) -45.54% TOTAL NON-OPERATING INCOME (22,011) 22,232 -201.00% (6,476) (1,020) -84.25% INCOME BEFORE INCOME TAXES 723,424 563,108 -22.16% 30,434 80,420 164.24% Income tax expense (123,414) (105,842) -14.24% (5,035) (17,040) 238.43% ---------- --------- ------- -------- -------- -------- NET INCOME 600,010 457,266 -23.79% 25,399 63,380 149.54% ========== ========= ======= ======== ======== ========
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