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 and Exchange Act of 1934
For the month of August 2003
BANCOLOMBIA S.A.
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(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
Comission 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 incorpoprated by reference into
the registrant's registrantion 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: August 13, 2003 By /s/ JAIME ALBERTO VELASQUEZ B.
Name: Jaime Alberto Velasquez B.
Title: Vice President of Finance
[BANCOLOMBIA LOGO]
BANCOLOMBIA REPORTS ACCUMULATED UNCONSOLIDATED NET INCOME OF PS
169,042 MILLION DURING THE FIRST SEVEN MONTHS OF 2003
Medellin, August 12, 2003. BANCOLOMBIA (NYSE:CIB)*
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BANCOLOMBIA reported unconsolidated net income of Ps 29,716 million for the
month ended July 31, 2003. For the seven months ended July 31, 2003 the Bank
reported accumulated net income of Ps 169,042 million, 100% higher than for the
same period in 2002.
Total interest income, including investment securities, amounted to Ps 56,033
million in July 2003 and Ps 437,724 million for the seven-month period ended
July 31, 2003, 46.6% higher than for the same period in 2002.
Total assets amounted to Ps 10 trillion in July 2003 increasing 19.4% over the
last twelve months. Total deposits increased approximately 10.2% to Ps 6.2
trillion over the last twelve months. BANCOLOMBIA's total shareholders' equity
totaled Ps 1.51 trillion in July 2003, increasing 46.2% when compared to Ps 1.03
trillion in July 2002.
BANCOLOMBIA's (unconsolidated) level of past due loans as a percentage of total
loans was 1.6% as of July 31, 2003, and the level of allowance for past due
loans was 268%.
Market Share
According to ASOBANCARIA (Colombia's national banking association),
BANCOLOMBIA's market share of the Colombian Financial System in July 2003 was as
follows: 12.4 % of total deposits, 13.3% of total net loans, 10.8% of total
savings accounts, 17.1% of total checking accounts and 11.7 % of time deposits.
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* Please note that the information contained herein sets forth and is based on
the unconsolidated, unaudited financial results of Bancolombia for the periods
specified and as calculated herein in accordance with Colombian GAAP. Such
information can therefore not be compared to and should not be used in any way
to interpret any information contained in Bancolombia's annual report on Form
20-F for the year ended December 31, 2002 or in Bancolombia's latest quarterly
press release, each of which contains the consolidated financial results of
Bancolombia and its subsidiaries for each of the periods specified and as
calculated each therein.
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 Maria A. Villa Fax:(574) 2317208
Financial VP IR Manager www.bancolombia.com
Tel.: (574) 5108666 Tel.: (574) 5108666