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December 13, 2007 |
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BANCOLOMBIA SA: Earns COP73.8 Billion in November 2007 Bancolombia S.A. reported unconsolidated net income of COP73,874 million during the past month of November. During November, total net interest income, including investment securities amounted to COP177,344 million. Additionally, total net fees and income from services totaled COP62,662 million. Total assets amounted to COP32.63 trillion, total deposits totaled COP20.80 trillion and Bancolombia's total shareholders' equity amounted to COP4.91 trillion. Bancolombia's (unconsolidated) level of past due loans as a percentage of total loans was 2.91% as of Nov. 30, 2007, and the level of allowance for past due loans was 126.78% as of the same date. Market Share According to ASOBANCARIA (Colombia's national banking association), Bancolombia's market share of the Colombian financial system as of November 2007 was as follows: 18.4% of total deposits, 21.6% of total net loans, 19.3% of total savings accounts, 22.0% of total checking accounts and 14.1% of total time deposits. Bancolombia is Colombia's largest full-service financial institution, formed by a merger of three leading Colombian financial institutions. Bancolombia's market capitalization is over US$5.5 billion, with US$13.8 billion asset base and US$1.4 billion in shareholders' equity as of Sept. 30, 2006. Bancolombia is the only Colombian company with an ADR level III program in the New York Stock Exchange. * * * As reported in the Troubled Company Reporter-Latin America on June 27, 2007, Moody's Investors Service changed the outlook to positive from stable on its Ba3 long-term foreign currency deposit ratings and Ba1 long-term foreign currency subordinated bond rating for Bancolombia, S.A. As reported in the Troubled Company Reporter-Latin America on May 4, 2007, Fitch Ratings downgraded and removed from Rating Watch Negative Bancolombia's long-term and short-term local currency Issuer Default Ratings and Individual rating: -- Individual rating to 'C/D' from 'C'; -- Local currency long-term IDR to 'BB+' from 'BBB-'; and -- Local currency short-term rating to 'B' from 'F3'; In addition, Fitch affirmed these ratings: -- Foreign currency long-term IDR at 'BB+'; -- Foreign currency short-term rating at 'B'; and -- Support rating at '3'. Fitch says the rating outlook is stable. |
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