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 1933
For the month of September 2002
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 [ ]
(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).
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
The release included in this Report on Form 6-K 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 important factors that
could cause actual results to differ materially from those indicated in such
statements.
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: September 11, 2002 By /s/ JAIME ALBERTO VELASQUEZ B.
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Name: Jaime Alberto Velasquez B.
Title: Vice President of Finance
[BANCOLOMBIA LOGO]
[THE BANKER LOGO]
BANCOLOMBIA REPORTS ACCUMULATED NET INCOME OF PS 91,592
MILLION AS OF AUGUST 2002*
Medellin, September 10, 2002. BANCOLOMBIA (NYSE:CIB)
BANCOLOMBIA, which was named Bank of the Year in Colombia for 2002 by The Banker
magazine, reported a net income of Ps 7.0 billion in August 2002. Accumulated
net income increased 45.6% during the past twelve months totaling Ps 91.5
billion for the January-August 2002 period when compared to Ps 62.9 billion for
the same period in 2001.
The average composition of BANCOLOMBIA's operating income for the January-August
2002 period was as follows: 62.9% from net interest income, 28.4% from
commissions and fees, and 8.7% from other operating income.
Average assets in August totaled Ps 8.4 trillion, increasing 17.11% over the
year. Average liabilities grew 17.17% from Ps 6.3 trillion to Ps 7.3 trillion
during the past twelve months. Checking accounts, saving accounts and time
deposits increased 17.3%, 18.8%, and 25.4%, respectively. Finally, BANCOLOMBIA
average shareholders' equity grew on average 10.76% during the first eight
months of 2002 when compared to the same period in 2001, totaling Ps 1,017.8
billion.
MARKET SHARE
BANCOLOMBIA's market share indicators as of August 16, 2002, according to
ASOBANCARIA, are as follows: total deposits 12.1%, total net loans 12.3%, total
savings accounts 10.5%, total checking accounts 17.6%, and time deposits 11.2%.
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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. 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, 2001 or in Bancolombia's quarterly press releases, each of which
contain the consolidated financial results of the Bank and its subsidiaries for
each of the periods specified and as calculated each therein.
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[THE BANKER LOGO]
BANCOLOMBIA, COLOMBIAN BANK OF THE YEAR 2002
The international banking magazine of the Financial Times Group The Banker,
recognized BANCOLOMBIA as Bank of the Year in Colombia for 2002 during an awards
ceremony held in London on Tuesday, September 3, 2002.
BANCOLOMBIA was chosen among other Colombian banks based on core data, results,
key growth, performance measures, the use of technology, particular achievements
in the past year and overall strategy.
CONTACTS:
Jaime A. Velasquez: Financial VP (574) 5108666
Maria A. Villa: IR Manager (574) 5108866
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