Bancolombia : April 23, 2014 Bancolombia S.A. announces its intention to acquire all of Factoring Bancolombia’s assets, liabilities and contracts Download
BANCOLOMBIA S.A. ANNOUNCES ITS INTENTION TO ACQUIRE ALL OF FACTORING
BANCOLOMBIA'S ASSETS, LIABILITIES AND CONTRACTS
Medellín, Colombia, April 23, 2014
Bancolombia S.A. and Factoring Bancolombia S.A. announced today that they are beginning the legal procedure required for the transfer of all of Factoring Bancolombia's assets, liabilities and contracts to Bancolombia S.A., Factoring Bancolombia's parent company.
This transfer, which is subject to the prior authorization of the Colombian Superintendency of Finance, aims to strengthen and increase the profitability of the factoring business of Grupo Bancolombia, while maintaining the competitive advantage that this operation currently has.
The transfer will not have a significant effect on the consolidated financial statements of Bancolombia, as Bancolombia currently owns directly and indirectly 99.99% of Factoring Bancolombia's outstanding capital stock.
Contacts
Jaime A. Velásquez Strategy and Finance VP Tel.: (574) 4042199
Bancolombia S.A. (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other. It delivers its products and services through its regional network comprising Colombia's non-Government owned banking network, El Salvador's financial conglomerate by gross loans, Guatemala's bank, Panama's bank and off-shore banking subsidiaries in Panama, Cayman and Puerto Rico, as well as subsidiaries in Peru. The Bank and its subsidiaries offer Savings And Investment, Ahorro A La Mano, Financing, Mortgage Banking, Factoring, Financial and Operating Leases, Capital Markets, eTrading, Cash Management, Foreign Currency, Bancassurance, Investment Banking and Trust Services.
Bancolombia : April 23, 2014 Bancolombia S.A. announces its intention to acquire all of Factoring Bancolombia’s assets, liabilities and contracts Download
BANCOLOMBIA S.A. 
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