EX-8.1 4 v373580_ex8-1.htm EXHIBIT 8.1

The following is a list of subsidiaries of Bancolombia S.A. as of December 31, 2013:

SUBSIDIARIES

Entity	Jurisdiction of Incorporation	Business	Shareholding directly and indirectly

Leasing Bancolombia S.A. Compañía de Financiamiento	Colombia	Leasing		100.00	%
Fiduciaria Bancolombia S.A.	Colombia	Trust		98.81	%
Banca de Inversión Bancolombia S.A. Corporación Financiera	Colombia	Investment banking		100.00	%
Valores Bancolombia S.A. Comisionista de Bolsa	Colombia	Securities brokerage		100.00	%
Compañía de Financiamiento Tuya S.A.	Colombia	Financial services		99.99	%
Factoring Bancolombia S.A. Compañía de Financiamiento	Colombia	Financial services		100.00	%
Patrimonio Autónomo Cartera LBC	Colombia	Loan management		100.00	%
Renting Colombia S.A.	Colombia	Operating leasing		100.00	%
Transportempo S.A.S.	Colombia	Transportation		100.00	%
Valores Simesa S.A.	Colombia	Investments		67.54	%
Inversiones CFNS S.A.S.	Colombia	Investments		99.94	%
CFNS Infraestructura S.A.S.	Colombia	Investments		99.94	%
BIBA Inmobiliaria S.A.S. (Formerly Inmobiliaria Bancol S.A.)	Colombia	Real estate broker		100.00	%
Vivayco S.A.S.	Colombia	Portfolio Purchase		74.95	%
Uff Móvil S.A.S.	Colombia	Mobile network operator		74.95	%
FCP Fondo Colombia Inmobiliario S.A.⁽¹⁾	Colombia	Real estate broker		50.28	%
Bancolombia Panamá S.A.⁽¹⁾	Panama	Banking		100.00	%
Valores Bancolombia Panamá S.A.	Panama	Securities brokerage		100.00	%
Suvalor Panamá Fondo de Inversión S.A.	Panama	Holding		100.00	%
Suvalor Renta Variable Colombia S.A.	Panama	Collective investment fund		100.00	%
Suvalor Renta Fija Internacional Corto Plazo S.A.	Panama	Collective investment fund		100.00	%
Suvalor Renta Fija Internacional Largo Plazo S.A.	Panama	Collective investment fund		100.00	%
Sistema de Inversiones y Negocios S.A. Sinesa	Panama	Investments		100.00	%
Banagrícola S.A.	Panama	Investments		99.16	%
Banistmo S.A. ⁽¹⁾	Panama	Banking		98.12	%
Banistmo Investment Corporation S.A. ⁽¹⁾	Panama	Trust		98.12	%
Financiera Flash S.A. ⁽¹⁾	Panama	Financial services		98.12	%
Grupo Financomer S.A.⁽¹⁾	Panama	Financial services		98.12	%
Leasing Banistmo S.A. ⁽¹⁾	Panama	Leasing		98.12	%
Seguros Banistmo S.A. ⁽¹⁾	Panama	Insurance company		98.12	%
Securities Banistmo S.A. ⁽¹⁾	Panama	Purchase and sale of securities		98.12	%
Banistmo Capital Markets Group Inc ⁽¹⁾	Panama	Purchase and sale of securities		98.12	%
Anavi Investment Corporation S.A. ⁽¹⁾	Panama	Real estate broker		98.12	%
Williamsburg International Corp. ⁽¹⁾	Panama	Real estate broker		98.12	%
Van Dyke Overseas Corp. ⁽¹⁾	Panama	Real estate broker		98.12	%
Desarrollo de Oriente S.A. ⁽¹⁾	Panama	Real estate broker		98.12	%
Bien Raices Armuelles S.A. ⁽¹⁾	Panama	Real estate broker		98.12	%
Steens Enterpresies S.A. ⁽¹⁾	Panama	Portfolio holder		98.12	%
Ordway Holdings S.A. ⁽¹⁾	Panama	Real estate broker		98.12	%
Inversiones Castan S.A. ⁽¹⁾	Panama	Real estate broker		98.12	%
Financomer S.A.⁽¹⁾	Panama	Financial services		98.12	%
Banistmo Asset Management Inc ⁽¹⁾	Panama	Purchase and sale of securities		98.12	%
M.R. C Investment Corp. ⁽¹⁾	Panama	Real estate broker		98.12	%
Inmobiliaria Bickford S.A. ⁽¹⁾	Panama	Real estate broker		98.12	%
Banco Agrícola S.A.	El Salvador	Banking		97.35	%
Arrendadora Financiera S.A. Arfinsa	El Salvador	Leasing		97.36	%
Credibac S.A. de C.V.	El Salvador	Credit card services		97.35	%
Valores Banagricola S.A. de C.V.	El Salvador	Securities brokerage		98.89	%
Inversiones Financieras Banco Agrícola S.A. IFBA	El Salvador	Investments		98.89	%
Arrendamiento Operativo CIB S.A.C.	Peru	Operating leasing		100.00	%
Capital Investments SAFI S.A.	Peru	Trust		100.00	%
Fondo de Inversión en Arrendamiento Operativo Renting Perú	Peru	Car Rental		100.00	%
Leasing Perú S.A.	Peru	Leasing		100.00	%
FiduPerú S.A. Sociedad Fiduciaria	Peru	Trust		98.81	%
Bancolombia Puerto Rico Internacional, Inc.	Puerto Rico	Banking		100.00	%
Suleasing International USA, Inc.	USA	Leasing		100.00	%
Bancolombia Caymán S.A.	Cayman Islands	Banking		100.00	%
Banagrícola Guatemala S.A.	Guatemala	Outsourcing		99.16	%
Bagrícola Costa Rica S.A.	Costa Rica	Outsourcing		99.16	%

(1) See Item 18. Financial Statements, note 1 “Organization of Background”.