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 1934
For the month of June 2003
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 _____
(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. 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: June 12, 2003 By /s/ JAIME ALBERTO VELASQUEZ B.
Name: Jaime Alberto Velasquez B.
Title: Vice President of Finance
[BANCOLOMBIA LOGO]
BANCOLOMBIA REPORTS ACCUMULATED NET INCOME OF PS 113.437 MILLION
DURING THE FIRST FIVE MONTHS OF 2003
Medellin, June 12, 2003. BANCOLOMBIA (NYSE:CIB)*
BANCOLOMBIA reported unconsolidated net income of Ps 24,355 million for the
month ended May 31, 2003. For the five months ended May 31, 2003 the Bank
reported accumulated net income of Ps 113,437 million, 88.7% higher than that
for the same period of 2002.
Total interest income amounted to Ps 65,465 million in May 2003 and Ps 311,912
million in the five-month period ended May 31, 2003, 49.7% higher than that for
the same period of 2002.
Total assets amounted to Ps 10.3 trillion in May increasing 21.9% over the last
twelve months. Total deposits increased 15% to Ps 6.5 trillion over the last
year. BANCOLOMBIA's total shareholders' equity totaled Ps 1.38 trillion in May.
BANCOLOMBIA's level of past due loans as a percentage of total loans was 1.89%
as of May 31, 2003, and the level of allowance for past due loans was 238.3%.
MARKET SHARE
According to ASOBANCARIA (Colombia's national banking association),
BANCOLOMBIA's market shares in May, with respect to the Colombian Financial
System were 12.5% of total deposits, 12.6% of total net loans, 11.3% of total
savings accounts, 17.2% of total checking accounts and 11.6% of time deposits.
CONTACTS:
Jaime A. Velasquez: Financial VP (574) 5108666
Maria A. Villa: IR Manager (574) 5108866
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* Please note that the information contained herein sets forth and is based on
the unconsolidated, unaudited financial results of the Bank 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
the Bank 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.