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January 8, 2008 |
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BANCOLOMBIA: Reports 34,000 Mobile Banking Clients in 2007 Colombian news daily Portafolio reports that Bancolombia had about 34,000 customers for its mobile banking service Banca Movil in 2007. Cellular-News relates that Bancolombia launched Banca Movil in June 2007. Since then the bank has processed about 532,000 mobile banking transactions. Banca Movil allows clients to make payments, bank transfers and requests for information, Cellular-News notes. 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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