 |
April 18, 2008 |
|
|
|
 |
BANCOLOMBIA SA: Earns COP332 Billion in First Quarter 2008 Bancolombia S.A.'s unconsolidated net income rose 49% to COP332 billion in the first quarter 2008, from the first quarter 2007, Business News Americas reports. According to Bancolombia, its net operating income grew 83.2% to COP512 billion in the first quarter 2008, compared to the same period last year. As reported in the Troubled Company Reporter-Latin America on April 15, 2008, Bancolombia reported unconsolidated net income of COP219,621 million during the past month of March. During March, total net interest income, including investment securities amounted to COP210,230 million. Additionally, total net fees and income from services totaled COP60,095 million. Total assets amounted to COP33.03 trillion, total deposits totaled COP20.79 trillion and Bancolombia's total shareholders' equity amounted to COP4.72 trillion. Bancolombia S.A. 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. |
|
|
||
|
Today's Top Stories have been selected from the Troubled Company Reporter - Latin America. To receive the Full TCR-LA please CLICK HERE.
