BANCOLOMBIA S.A. Medellín, Colombia. June 15, 2015
Bancolombia releases a comparative report of quarterly and year-end financial information corresponding to fiscal year 2014, furnished under International Financial Reporting Standards (IFRS) and compared against Colombian general accounting principles (COLGAAP) effective before the adoption of IFRS.
DISCLAIMER
This report corresponds to the interim unaudited consolidated financial statements of Bancolombia S.A. and its subsidiaries under control ("Bancolombia" or the "Bank"). These financial statements have been prepared in accordance with International Financial Reporting Standards - IFRS, and are presented in nominal figures. Bancolombia maintains accounting records in Colombian pesos, referred to herein as "Ps." or "COP".
CAUTIONARY NOTE REGARDING CHANGES IN APPLICATION OF IFRS BY THE BANK: Until 2014, Bancolombia prepared its financial statements under the rules issued by the Colombian Superintendence of Finance (Colombian GAAP). Beginning on January 1, 2015, the financial statements of Bancolombia are being prepared under IFRS. Bancolombia's first IFRS financial statements will cover the year ending on December 31, 2015 and will also include the comparative financial statements for the year ending on December 31, 2014.
The interim unaudited consolidated financial information for interim periods within 2015, and the comparative interim 2014 period may be further amended until Bancolombia establishes its definitive IFRS accounting policies in accordance with the IFRS 1, implements applicable IFRS rules as of December 31, 2015, and prepares the first audited annual consolidated financial statements.
Any future dividends to be declared in the general shareholder's meeting of Bancolombia S.A. will be determined based on non-consolidated financial information prepared under IFRS as modified by the Colombian Superintendence of Finance, which can differ in certain material respects to that prepared under IFRS as promulgated by the International Accounting Standards Board.
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, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products by other companies, lack of acceptances of new products or services by our targeted customers, changes in business strategy and various others factors, that could cause actual results to differ materi ally from those indicated in such statements. We do not intend, and do not assume any obligation, to update these forward-looking statements. Certain monetary amounts, percentages and other figures included in this report have been subject to rounding adjustments.
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COLGAAP IFRS *
Change
(COP)
Change (%)
ASSETS Cash and balances at central bank | 11,192,825.00 | 11,194,859 | 2,034 | 0.02% |
Investments | 13,677,801 | 13,020,412 | (657,389) | -4.81% |
Derivative financial instruments | 1,472,879 | 1,448,845 | (24,034) | -1.63% |
Loans and advances to customers | 108,687,061 | 115,133,130 | 6,446,069 | 5.93% |
Allowance for loan and financial leases losses | (4,862,404) | (4,777,170) | 85,234 | -1.75% |
Goodwill | 4,033,882 | 4,583,927 | 550,045 | 13.64% |
Deferred tax | 200,853 | 440,735 | 239,882 | 119.43% |
Operating leases, net | 3,511,304 | 1,169,964 | (2,341,340) | -66.68% |
Other assets | 10,810,660 | 7,600,655 | (3,210,005) | -29.69% |
TOTAL ASSETS | 148,724,861 | 149,815,357 | 1,090,496 | 0.73% |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
Deposits | 95,337,222 | 95,883,080 | 545,858 | 0.57% |
Derivative financial instruments | 1,230,434 | 1,161,634 | (68,800) | -5.59% |
Borrowings from other financial institutions | 13,846,543 | 13,918,234 | 71,691 | 0.52% |
Debt securities | 13,682,855 | 13,825,185 | 142,330 | 1.04% |
Preferred shares | - | 579,946 | 579,946 | 100.00% |
Employee benefits, pension plan | 108,717 | 126,379 | 17,662 | 16.25% |
Deferred tax | 237,896 | 645,101 | 407,205 | 171.17% |
Other liabilities | 6,969,453 | 5,964,422 | (1,005,031) | -14.42% |
SHAREHOLDERS' EQUITY ATTRIBUTABLE THE
OWNERS OF THE PARENT COMPANY | 16,817,354 | 17,210,418 | 393,064 | 2.34% |
NON-CONTROLLING INTEREST | 494,387 | 500,958 | 6,571 | 1.33% |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 148,724,861 | 149,815,357 | 1,090,496 | 0.73% |
* Figures under IFRS are not audited and are subject to revision |
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CONSOLIDATED BALANCE SHEET | Change IFRS |
(COP millions) | vs Col GAAP |
ASSETS | 1,090,496 |
Fair value of investment property and restatement of other assets | 519,873 |
Goodwill | 431,890 |
Deferred tax | 239,882 |
Derivatives - Credit Value Adjustment | (24,034) |
Other | (77,115) |
LIABILITIES | 196,474 |
Preferred shares | 579,946 |
Non-controlling interest | (494,387) |
Deferred tax liabilities | 407,205 |
Derivatives - Debit Value Adjustment | (68,800) |
Interests originated from trouble debt restructuring | (83,886) |
Other liabilities | (143,604) |
EQUITY | 894,022 |
Non-controlling interest | 500,958 |
Preferred shares | (579,946) |
Conversion adjustments | 605,071 |
First time adoption and translation adjustment (Other Comprehensive Income) | 367,939 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 1,090,496 |
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ASSETS COLGAAP IFRS * Change (COP) Change (%) ExplanationIncrease due to mark-to-market valuation of non-compulsory fixed
↑ income securities, formerly classified as held to maturity but now
classified as trading securities
Investments 13,677,801 13,020,412
Derivative
(657,389) -4.81%
Increase due to the valuation of equity securities (less than 20%
ownership)
Investments in associates and joint ventures were reclassified as other assets
↓ Reduction due to the inclusion of Credit Value Adjustment / Debit
financial instruments
1,472,879
1,448,845
(24,034)
-1.6%
Value Adjustment in the valuation of contracts
↑ Increased due to first day valuation of deferred accounts
↑ Increase by reclassification of operating leases into financial leases
Loans and advances to customers
108,687,061 115,133,130 6,446,069
5.93%
Financial Leasing-related advance payments reclassified into loans and leases
Increase due to the recognition of suspended interest as part of the loan
Allowance for loan and financial leases losses
Goodwill and Intangible assets
(4,862,404) (4,777,170) 85,234 -1.75% ↓
4,033,882 4,583,927 550,045 13.64% ↑
Reduction in allowances. Under Colombian GAAP, allowances are estimated based on expected losses while under IFRS, allowances are estimated based on incurred losses
Under IFRS, goodwill remains constant in USD at the level of the date of initial adoption. It is converted to COP each period. Under Colombian GAPP, Goodwill was amortized.
Deferred tax 200,853 440,735 239,882 119.43% Increase in deferred tax asset due to differences between fiscal and financial accounting
Operating
leases, net 3,511,304 1,169,964 (2,341,340) -66.68%
Reclassification of some assets from operating leases into financial leases
Increase due to reclassification of investments in associated companies and joint ventures
Other assets 10,810,660 7,600,655 (3,210,005) -29.69%
Reduction due to reclassification of investment and properties' re- appraisals as a greater value of the asset
Under IFRS, Investment properties are measured using a fair value
↑ model and it generated an increase in the recorded amount. Under
Colombian GAAP, those assets are subject to depreciation charges
* Figures under IFRS are not audited and are subject to revision↑ Increase due to the extension of useful life of assets
Reduction in financial leasing-related advance payments reclassified into loans and leases
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Explanation
Increase due to reclassification of interbank funds into deposits, according to some features of those funds
Increase due to the addition of interest payable to the balance of the obligations
Reduction due to the inclusion of Credit Value Adjustment / Debit Value
Adjustment in the valuation of contracts
Reclassification of interest and fees payable to the balance of financial obligations
* Figures under IFRS are not audited and are subject to revisionIncrease due to the addition of interest payable to the balance of the obligations
Costs associated to the issuance of securities are recorded as a lower value of the obligation and recognized through the income statement during the term of the securities using the amortized cost method
Under IFRS, the present value of the minimum dividend on preferred shares is recognized as a liability
Under IFRS, employee benefits (including pensions) are recognized using actuarial calculations
Increase in deferred tax liability due to differences between fiscal and financial accounting
Reclassification of interest payable on deposits, bonds and financial obligations
Under IFRS, greater liabilities are recorded due to provisions on contingent liabilities related to transactions such as financial guarantees and credit cards
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COLGAAP | IFRS * | Change Change (%) (COP) | ||
Interest income | 9,345,608 | 9,451,353 | 105,745 | 1.13% |
Interest expenses | 3,240,787 | 3,253,669 | 12,882 | 0.40% |
Net provisions | (1,405,054) | (1,052,770) | 352,284 | -25.07% |
Fees and income from services, net | 2,236,895 | 2,226,695 | (10,200) | -0.46% |
Other operating income | 1,152,355 | 853,463 | (298,892) | -25.94% |
Operating expenses | (5,164,655) | (5,075,509) | 89,146 | -1.73% |
Goodwill amortization | (397,798) | - | 397,798 | -100.00% |
Non-operating income | (58,768) | - | 58,768 | -100.00% |
Income tax | (589,075) | (650,502) | (61,427) | 10.43% |
NET INCOME | 1,878,721 | 2,499,061 | 620,340 | 33.02% |
ITEM COLGAAP IFRS * Change
(COP)
Change (%)
Explanation
Reclassification of operating leasing revenues that under IFRS are considered financial leases
Interest income 9,345,608 9,451,353 105,745 1.13%
↑ Adjustment on valuation of investments and derivatives
Under IFRS, interest on loans are affected by the effective interest rate, including origination fees, etc
Net provisions (1,405,054) (1,052,770) 352,284 -25.07% ↓
Reduction in the provision expenses. Under Colombian GAAP, allowances are estimated with expected losses while under IFRS, allowances are estimated with incurred losses
Other Operating
Income 1,152,355 853,463 (298,892) -25.94%
Reclassification of operating leasing revenues into interest income on leases that under IFRS are considered financial leases
Operating
expenses (5,164,655) (5,075,509)
89,146 -1.73%
Reduction of depreciation expenses related to operating leases.
↓ Additionally, lower depreciation charges as a result of increased useful lives
Increase in employee benefits expenses due to actuarial estimation of pension and long term benefit plan liabilities
Goodwill amortization
(397,798) - 397,798 -100.00% ↓ Under IFRS, goodwill is not amortized
Non-operating
income (58,768) - 58,768 -100.00%
Under IFRS, the concept of non-operating activities does not exist, all these transactions have been re-classified into other accounts
Income tax (589,075) (650,502) (61,427) 10.43% Increase in deferred taxes due to differences between fiscal and financial accounting
* Figures under IFRS are not audited and are subject to revision6
ASSETS Cash and balances at central bank | 11,194,859 | 10,001,915 | 8,436,446 | 8,409,611 |
14,850,272 | ||||
Derivative financial instrument | 1,448,845 | 609,010 | 553,659 | 565,566 |
98,566,176 | ||||
Allowance for loan and financial leases losses | (4,777,170) | (4,762,062) | (4,605,425) | (4,538,403) |
3,966,051 | ||||
Deferred tax | 440,735 | 563,991 | 397,948 | 502,432 |
843,660 | ||||
Other assets | 7,600,655 | 7,683,025 | 7,855,308 | 7,508,223 |
TOTAL ASSETS | 149,815,357 | 135,823,778 | 129,511,402 | 130,673,588 |
LIABILITIES AND SHAREHOLDERS' EQUITY Deposits | 95,883,080 | 86,636,495 | 84,242,990 | 83,520,819 |
460,057 | ||||
Borrowings from other financial institutions | 13,918,234 | 11,474,946 | 11,062,008 | 12,259,156 |
12,478,608 | ||||
Preferred shares | 579,946 | 565,076 | 550,504 | 536,445 |
120,839 | ||||
Deferred tax | 645,101 | 628,705 | 603,154 | 587,969 |
5,473,781 | ||||
TOTAL LIABILITIES | 132,103,981 | 119,458,087 | 113,780,081 | 115,437,674 |
14,776,478 | ||||
NON-CONTROLLING INTEREST | 500,958 | 477,767 | 485,440 | 459,436 |
TOTAL LIABILITIES AND SHAREHOLDERS' | 149,815,357 | 135,823,778 | 129,511,402 | 130,673,588 |
Interest expense | 858,518 | 819,145 | 770,456 | 805,550 |
Net interest income | 1,680,994 | 1,404,058 | 1,570,857 | 1,541,775 |
Net provisions | (2,451) | (369,888) | (322,616) | (357,815) |
Fees and income from services, net | 601,089 | 551,687 | 559,426 | 514,493 |
Other operating income | 52,992 | 273,687 | 243,260 | 283,524 |
Operating expenses | (1,519,015) | (1,188,222) | (1,200,600) | (1,167,672) |
Income tax | (103,691) | (115,433) | (228,793) | (202,585) |
NET INCOME | 709,918 | 555,889 | 621,534 | 611,720 |
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PRINCIPAL RATIOS | QUARTER | AS OF | ||||||||
PRINCIPAL RATIOS | 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 | 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 | ||||||||
PROFITABILITY | ||||||||||
Return on average total assets | 1.87% | 1.91% | 1.68% | 1.99% | 1.64% | 1.87% | 1.90% | 1.81% | 1.83% | 1.64% |
Return on average shareholders´ equity | 16.56% | 16.56% | 14.28% | 17.16% | 14.28% | 16.56% | 16.43% | 15.59% | 15.84% | 14.28% |
EFFICIENCY | ||||||||||
Operating expenses to operating income | 51.90% | 51.21% | 55.51% | 64.57% | 48.38% | 51.90% | 51.55% | 52.81% | 55.85% | 48.38% |
Operating expenses to total assets | 3.57% | 3.69% | 3.58% | 4.25% | 3.35% | 3.57% | 3.64% | 3.59% | 3.72% | 3.35% |
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BANCOLOMBIA S.A. | |||||
CONSOLIDATED BALANCE SHEET (IFRS*) (COP millions) | As of Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 | ||||
ASSETS Cash and balances at central bank Interbank borrowings Reverse repurchase agreements and other similar secured lend Investments Derivative financial instruments - Assets Loans and advances to customers Allowance for loan and financial leases losses Investment in associates and joint ventures Goodwill and Intangible assets Premises and equipment Investment property Prepayments Tax receivables Deferred tax Assets held for sale Other assets | 8,409,611 1,407,401 1,079,674 14,850,272 565,566 98,566,176 (4,538,403) 903,003 3,966,051 2,213,647 1,015,339 136,395 59,453 502,432 244,420 1,292,551 | 8,436,446 1,838,477 845,646 11,339,303 553,659 100,745,428 (4,605,425) 897,570 3,742,022 2,270,882 1,044,113 160,600 151,746 397,948 226,794 1,466,193 | 10,001,915 2,048,988 742,845 12,483,969 609,010 104,175,428 (4,762,062) 969,730 3,971,230 2,305,474 1,042,828 156,496 151,431 563,991 253,695 1,108,810 | 11,194,859 969,657 1,302,267 13,020,412 1,448,845 115,133,130 (4,777,170) 1,053,779 4,583,927 2,397,220 1,114,180 181,909 279,202 440,735 282,464 1,189,941 | 11,082,550 1,524,439 942,245 13,368,676 1,618,568 120,155,760 (4,883,739) 1,209,209 4,944,627 2,500,456 1,138,332 219,062 374,387 562,081 197,212 1,527,967 |
Total assets | 130,673,588 129,511,402 135,823,778 149,815,357 156,481,832 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIES Deposit by customers Deposit by banks Derivative financial instruments - Liabilities Borrowings from other financial institutions Debt securities in issue Preferred shares Repurchase agreements and other similar secured borrowing Tax liabilities Deferred tax liabilities Employee benefit pension plan Other liabilities | 83,106,102 414,717 460,057 12,259,156 12,478,608 536,445 1,016,822 113,256 587,969 120,839 4,343,703 | 83,882,340 360,650 384,366 11,062,008 11,906,963 550,504 422,513 78,663 603,154 120,574 4,408,346 | 86,206,328 430,167 493,078 11,474,946 12,641,255 565,076 2,799,023 192,251 628,705 120,325 3,906,933 | 95,502,437 380,643 1,161,634 13,918,234 13,825,185 579,946 1,891,959 119,654 645,101 126,379 3,952,809 | 97,880,347 808,105 1,279,915 14,712,690 14,608,393 537,335 3,015,558 256,052 737,404 128,323 4,606,030 |
Total liabilities | 115,437,674 113,780,081 119,458,087 132,103,981 138,570,152 | ||||
SHAREHOLDERS' EQUITY Capital Additional paid-in-capital Appropriated reserves Retained earnings Cumulative other comprehensive income Surplus | 460,827 4,862,370 5,180,130 4,257,991 15,160 - | 464,495 4,857,914 5,180,046 4,790,592 (47,166) - | 480,869 4,855,804 5,213,608 5,176,858 160,785 - | 480,914 4,857,454 5,167,971 6,094,037 618,243 (8,201) | 480,914 4,857,454 6,073,613 5,212,219 812,061 259 |
Shareholders' equity attributable to the owners of the pare | 14,776,478 15,245,881 15,887,924 17,210,418 17,436,520 | ||||
Non-controlling interest | 459,436 | 485,440 | 477,767 | 500,958 | 475,160 |
Total liabilities and shareholders' equity | 130,673,588 129,511,402 135,823,778 149,815,357 156,481,832 |
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BANCOLOMBIA S.A. | |||||
CONSOLIDATED INCOME STATEMENT (IFRS* | As of | ||||
(COP millions) Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 | |||||
Interest income and expenses Interest on loans Commercial loans Consumer Small business loans Mortgage Leasing Total Interest on loans Overnight and market funds Interest on investment securities Debt investments, net | 959,211 581,137 31,720 297,648 281,200 2,150,916 3,318 7,489 | 2,011,296 1,160,068 64,828 606,166 557,290 4,399,648 6,285 16,027 | 2,999,404 1,733,907 96,937 882,983 853,947 6,567,178 9,601 22,583 | 4,072,103 2,325,923 135,654 1,164,706 1,150,147 8,848,533 11,129 28,839 435,843 (78,091) 164,463 40,637 562,852 591,691 9,451,353 | 1,241,135 624,650 42,026 323,091 376,458 2,607,360 2,831 12,712 138,788 (19,288) (22,575) (2,355) 94,570 107,282 2,717,473 |
Net gains from investment activities at fair value through income statement | 4,072,103 2,325,923 135,654 1,164,706 1,150,147 8,848,533 11,129 28,839 435,843 (78,091) 164,463 40,637 562,852 591,691 9,451,353 | 1,241,135 624,650 42,026 323,091 376,458 2,607,360 2,831 12,712 138,788 (19,288) (22,575) (2,355) 94,570 107,282 2,717,473 | |||
Debt investments Derivatives Repos Others Total Net gains from investment activities at fair value through profit and loss Total interest on investment securities Total interest income | 184,300 (44,866) 48,414 (2,246) 185,602 193,091 2,347,325 | 245,456 (61,392) 90,802 (8,188) 266,678 282,705 4,688,638 | 267,931 (90,719) 136,816 (1,549) 312,479 335,062 6,911,841 | 4,072,103 2,325,923 135,654 1,164,706 1,150,147 8,848,533 11,129 28,839 435,843 (78,091) 164,463 40,637 562,852 591,691 9,451,353 | 1,241,135 624,650 42,026 323,091 376,458 2,607,360 2,831 12,712 138,788 (19,288) (22,575) (2,355) 94,570 107,282 2,717,473 |
Interest expense Borrowing costs Overnight funds Debt securities in issue Deposits Other interest (expense) Total interest expense | (97,050) (797) (190,278) (486,277) (31,148) (805,550) | (194,667) (944) (378,757) (945,657) (55,981) (1,576,006) | (272,322) (1,371) (572,503) (1,438,989) (109,966) (2,395,151) | (382,997) (3,824) (787,994) (1,942,810) (136,044) (3,253,669) | (101,794) (2,130) (236,239) (538,104) (32,372) (910,639) |
Net interest income Credit impairment charges, net Goodwill and other assets impairment Total net provisions | 1,541,775 (334,060) (23,755) (357,815) | 3,112,632 (639,635) (40,796) (680,431) | 4,516,690 (956,095) (94,224) (1,050,319) | 6,197,684 (986,432) (66,338) (1,052,770) | 1,806,834 (340,917) (13,013) (353,930) |
Net interest income after provision, net | 1,183,960 | 2,432,201 | 3,466,371 | 5,144,914 | 1,452,904 |
Fees and other service income Banking services Credit and debit card fees Electronic services and ATM fees Brokerage Acceptances, Guarantees and Standby letters of Trust Insurance banking Proceeds Others Fees and other service income | 125,140 64,432 79,424 5,113 15,284 50,711 46,429 40,957 233,451 660,941 | 254,315 128,860 162,301 11,377 25,211 100,579 99,673 85,680 514,016 1,382,012 | 381,052 191,454 250,370 18,474 39,821 151,473 150,318 132,756 784,111 2,099,829 | 516,139 255,754 352,060 23,784 51,923 203,608 212,223 182,669 1,110,966 2,909,126 | 125,808 76,726 91,094 4,736 11,291 65,296 53,516 46,428 286,547 761,442 |
Fees and other service expenses Banking services Others Fees and other service expenses | (51,591) (94,857) (146,448) | (107,838) (200,255) (308,093) | (162,171) (312,052) (474,223) | (221,500) (460,931) (682,431) | (61,653) (128,953) (190,606) |
Total fees and income from services, net | 514,493 | 1,073,919 | 1,625,606 | 2,226,695 | 570,836 |
Other operating income Derivatives FX contracts Net foreign exchange Hedging expenses Services Operating leases Gains (or losses) on sale of assets Other reversals Total other operating income | 20,527 31,600 (6,855) - 80,585 (8,813) 1,392 118,436 | 39,267 77,321 (13,761) - 185,156 (1,534) 7,968 294,417 | (26,897) 189,414 (15,699) - 260,797 (1,319) 8,079 414,375 | (140,584) 321,896 (22,923) - 361,500 (69) 10,797 530,617 | 49,389 54,209 (7,887) 1,243 102,551 13,259 1,077 213,841 |
Dividends received and equity method Dividends Equity investments Equity method Total dividends received and equity method | 26,828 5,093 43,383 75,304 | 35,416 11,018 67,159 113,593 | 38,372 36,822 103,128 178,322 | 44,353 17,918 70,199 132,470 | 9,967 10,302 33,727 53,996 |
Total income | 1,892,193 | 3,914,130 | 5,684,674 | 8,034,696 | 2,291,577 |
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CONSOLIDATED INCOME STATEMENT (IFRS) | As of | ||||
(Ps millions) Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 | |||||
Operating expenses Salaries and employee benefits Bonuses Administration and general expenses Contributions and other tax burden Depreciation and amortization Total operating expenses | (418,694) (52,039) (495,608) (107,537) (93,794) (1,167,672) | (830,981) (103,143) (1,001,787) (228,440) (203,921) (2,368,272) | (1,237,447) (146,689) (1,532,913) (323,579) (315,866) (3,556,494) | (1,762,246) (260,059) (2,157,626) (462,690) (432,888) (5,075,509) | (483,679) (54,913) (520,904) (114,745) (105,631) (1,279,872) |
Net operating income Other income (expenses) Other income Other expenses Total other income (expenses) | 724,521 152,395 (58,566) 93,829 | 1,545,858 288,453 (143,352) 145,101 | 2,128,180 455,906 (225,770) 230,136 | 2,959,187 569,033 (332,044) 236,989 | 1,011,705 134,634 (60,163) 74,471 |
Profit before tax | 818,350 | 1,690,959 | 2,358,316 | 3,196,176 | 1,086,176 |
Income tax Impuesto a la riqueza | (202,585) - | (431,378) - | (546,811) - | (650,502) - | (273,860) (162,302) |
Net income | 615,765 | 1,259,581 | 1,811,505 | 2,545,674 | 650,014 |
Non-controlling interest | (4,045) | (26,327) | (22,362) | (46,613) | (23,772) |
Net income attributable to the ow ners of the | 611,720 | 1,233,254 | 1,789,143 | 2,499,061 | 626,242 |
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GRUPO BANCOLOMBIA is a full service financial conglomerate incorporated in Colombia that offers a wide range of banking products and services to a diversified individual and corporate customer base of more than 9 million customers. GRUPO BANCOLOMBIA delivers its products and services via its regional network comprised of: Colombia's largest non-government owned banking network, El Salvador's leading financial conglomerate (Banagricola S.A.), off-shore and local (Banistmo S.A.) banking subsidiaries in Panama, Cayman and Puerto Rico. Together, BANCOLOMBIA and its subsidiaries provide stock brokerage, investment banking, leasing, factoring, consumer finance, fiduciary and trust services, asset management, among others.
Contact InformationBancolombia's Investor Relations
Phone: (574) 4041837 / (574) 4041838
E-mail: investorrelations@bancolombia.com.co Alejandro Mejia (IR Manager) / Simon Botero (Analyst) Website: http://www.grupobancolombia.com/investorRelations/
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