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 January 2007
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
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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. 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: January 31, 2007 By /s/ JAIME ALBERTO VELASQUEZ B.
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Name: Jaime Alberto Velasquez B.
Title: Vice President of Finance
CIB
LISTED
(BANCOLOMBIA LOGO) NYSE
RESOLUTION OF THE SUPERINTENDENY OF FINANCE
MEDELLIN, COLOMBIA, JANUARY 31, 2007
In accordance with Decree 3139 of 2006, Bancolombia S.A. ("Bancolombia") hereby
informs that, on January 29, 2007, the Superintendency of Finance issued
Resolution No. 0129, whereby it imposed a fine on Bancolombia for the amount of
Ps. 250 million (USD 110,633.17)(1). The fine was imposed due to certain
differences on the interpretation of the calculation method applied to measure
Bancolombia's and Corfinsura's technical capital (before the merger) for the
year 2005.
Bancolombia will appeal this decision.
It is important to note that Bancolombia believes that Bancolombia and
Corfinsura would have maintained its solvency ratio over the minimum required by
law, during the mentioned period, even if the calculation had been made under
the interpretation of the Superintendency of Finance.
CONTACTS
SERGIO RESTREPO JAIME A. VELASQUEZ MAURICIO BOTERO
EXECUTIVE VP FINANCIAL VP IR MANAGER
TEL.: (574) 5108668 TEL.: (574) 5108666 TEL.: (574) 5108866
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(1) Exchange rate January 31st, 2007 Ps 2259.72 = US$ 1