July 28, 2017 12:03 AM ET

Banks

Company Overview of Bancolombia S.A.

Company Overview

Bancolombia S.A. provides various banking products and services to individual, corporate, and government customers throughout Colombia, Latin America, and the Caribbean region. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other. It offers checking and savings accounts, fixed term deposits, and investment products; trade financing, loans funded by domestic development banks, working capital loans, credit cards, personal and vehicle loans, payroll loans, overdrafts, and financing for industrial projects; mortgage banking and factoring services; and financial and ope...

Carrera 48 # 26-85

Avenida Los Industriales

Medellín,  

Colombia

Founded in 1945

30,911 Employees

Phone:

57 4 404 1837

Key Executives for Bancolombia S.A.

Bancolombia S.A. does not have any Key Executives recorded.

Bancolombia S.A. Key Developments

Bancolombia S.A. Presents at BofAML 2017 CalGEMs Global Emerging Markets One-on-One Conference, Jun-06-2017

Bancolombia S.A. Presents at BofAML 2017 CalGEMs Global Emerging Markets One-on-One Conference, Jun-06-2017 . Venue: Los Angeles, California, United States.

Bancolombia S.A. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Financial Guidance for the Year 2017

Bancolombia S.A. reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported interest income of COP 4,202,956 million against COP 3,668,507 million last year. Net interest income was COP 2,621,306 million against COP 2,299,499 million last year. Profit before tax was COP 998,738 million against COP 979,124 million last year. Net income was COP 608,754 million against COP 397,366 million last year. Net income attributable to the equity holders of the parent company was COP 608,754 million against COP 392,721 million a year ago. Total operating income, net was COP 2,857,505 million against COP 2,752,760 million a year ago. Net income per ADS from continuing operations was COP 0.88 against COP 0.54 a year ago. Return on average total assets from continuing operations was 1.25% against 0.81% a year ago. Return on average shareholders’ equity was 11.44% against 8.10% a year ago. Return on average total assets from continuing operations was 1.25% against 0.81% a year ago. Profit for the year from continuing operations was COP 632,053 million against COP 428,276 million last year. Net income per share from continuing operations was COP 632.91 against COP 408.31 a year ago. The company expects to continue growing net income although at a moderate pace while maintaining solid service indicators for the rest of the year 2017 and demonstrated the strict cost controls and negative effective pricing it has mentioned during the past quarters. The company’s estimated growth for the rest of the year will be between 12% to 13% while in the medium term, target continues to sit at a level of 16%. In the year 2017, the company is forecasting a ROE ranging from 12% to 13%. This is a year when its forecasted net income is going to be relatively flat as compared to 2016, mainly impacted by high provision charges that saw in the first quarter. The company is finally seeing a positive impact of the efforts made in the efficiency front that should materialize in a different way in the second half of 2017.

Bancolombia S.A. Proposes Quarterly Dividends, Payable on April 3, 2017, July 4, 2017, October 2, 2017 and December 27, 2017

The board of directors of Bancolombia S. A approved the submission to the general shareholders meeting of a proposal to issue a dividend equal to COP 950.40 per share to be paid as follows: COP 237.60 per share and per quarter on: April 3, 2017, July 4, 2017, October 2, 2017 and December 27, 2017. Each ex-dividend period will be the period beginning 4 trading days before each payment date through such payment date, as follows: March 28, 2017, June 27, 2017, September 26, 2017 and December 20, 2017.

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