Bancolombia : announces transfer of all assets, contracts, and liabilities from Factoring Bancolombia SA
October 27, 2014 at 06:25 pm EDT
Share
RESOLUTIONS FROM THE SUPERINTENDENCY OF FINANCE
BANCOLOMBIA S.A. ANNOUNCES THE ASSIGNMENT TO, AND ASSUMPTION BY, BANCOLOMBIA S.A. OF ALL THE ASSETS, CONTRACTS AND LIABILITIES OF FACTORING BANCOLOMBIA S.A.
Medellín, Colombia, October 15, 2014
Bancolombia S.A. ("Bancolombia") announces that, as authorized by the Colombian
Superintendency of Finance (Superintendencia Financiera de Colombia) pursuant to resolution N°
1464 issued on August 26, 2014, Factoring Bancolombia S.A. Finance Company ("Factoring
Bancolombia") completed yesterday the transfer of all of its assets, contracts, and liabilities to its
parent company, Bancolombia (the "Transaction"),.
Pursuant to the Transaction, Factoring Bancolombia assigned to Bancolombia assets and contracts with an aggregate value of COP$ 855,831million and Bancolombia assumed liabilities of Factoring Bancolombia with an aggregate value of COP$ 768,791 million. The difference between the value of the assets and contracts assigned and the value of the liabilities assumed, in a total amount of COP$87,039 million, will be paid by Bancolombia to Factoring Bancolombia in cash, on or before October 30, 2014.
Also pursuant to the Transaction, Factoring Bancolombia assigned to Bancolombia the "Factoring
Bancolombia" trademark, which will hereafter be used to identify a division of Bancolombia.
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 S.A. 
