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TheStreet Open House

BANCOLOMBIA S.A. Reports Consolidated Net Income Of COP 468 Billion For The Fourth Quarter Of 2012 (COP 549 Per Share - USD 1.24 Per ADR), Which Represents A Decrease Of 7% Compared To The Same Quarter Last Year

MEDELLIN, Colombia, March 4, 2013 /PRNewswire/ -- Today, BANCOLOMBIA S.A. ("Bancolombia" or "the Bank") (NYSE: CIB; BVC: BCOLOMBIA, PFBCOLOM) announced its earnings results for the fourth quarter of 2012.

For the quarter ended on December 31, 2012 ("4Q12"), Bancolombia reported consolidated net income of COP 468 billion, or COP 549 per share - USD 1.24 per ADR, which represents a decrease of 7.2% as compared to the results for the quarter ended on December 31, 2011 ("4Q11") and an increase of 7.7% as compared to the results for the quarter ended on September 30, 2012 ("3Q12").

Bancolombia ended 4Q12 with COP 97,916 billion in assets, 5.1% higher than those at the end of 3Q12 and 14.6% greater than at the end of 4Q11. At the same time, liabilities totaled COP 86,309 billion, increasing 5.2% as compared to the figure presented in 3Q12 and increased 12.9% as compared to 4Q11[1].

  • Net loans increased 8.2% compared to 3Q12 and 13.9% compared to 4Q11. This quarterly growth confirms an increase in credit demand in Colombia with respect to 3Q12.
  • Net interest income increased 21.5% compared to 4Q11. Also, it grew 1% compared to 3Q12. These increases are the result of loan growth coupled with a good performance of the net interest margin during the year.
  • Past due loans as a percentage of total loans declined in 4Q12. 30 days (or more) past due loans as a percentage of total gross loans was 2.6%. Loan deterioration during 4Q12 was COP 144 billion, and net provision charges for past due loans and foreclosed assets totaled COP 335 billion, which represents 2% of gross loans when annualized. Provision charges represented 1.7% of gross loans during 2012.
  • The balance sheet remains strong. Loan loss reserves represented 4.6% of total gross loans and 177% of past due loans at the end of 4Q12. The capital adequacy ratio ended the quarter at 15.8% (Tier 1 of 10.4%).

Contact Information Bancolombia's Investor Relations Phone: (574) 4041837 / (574) 4041838 E-mail: investorrelations@bancolombia.com.co Alejandro Mejia (IR Manager)

Website: http://www.grupobancolombia.com/investorRelations/

[1]  This report corresponds to the consolidated financial statements of BANCOLOMBIA S.A. ("BANCOLOMBIA") and its affiliates of which it owns, directly or indirectly more than 50% of the voting capital stock. These financial statements have been prepared in accordance with generally accepted accounting principles in Colombia and the regulations of Superintendencia Financiera de Colombia, collectively COL GAAP. BANCOLOMBIA maintains accounting records in Colombian pesos, referred to herein as "Ps." or "COP". Certain monetary amounts, percentages and other figures included in this report have been subject to rounding adjustments. There have been no changes to the Bank's principal accounting policies in the quarter ended December 31, 2012. The statements of income for the quarter ended December 31, 2012 are not necessarily indicative of the results for any other future interim period. For more information, please refer to the Bank's filings with the Securities and Exchange Commission, which are available on the Commission's website at www.sec.gov.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This release 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 factors, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products by other companies, lack of acceptances of new products or services by our targeted customers, changes in business strategy and various others factors, that could cause actual results to differ materially from those indicated in such statements. We do not intend, and do not assume any obligation, to update these forward-looking statements. Certain monetary amounts, percentages and other figures included in this report have been subject to rounding adjustments. Any reference to BANCOLOMBIA means the Bank together with its affiliates, unless otherwise specified.

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