CONFORMED COPY
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1933
For the month of November 2002
BANCOLOMBIA S.A.
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(Translation of Registrant's name into English)
Calle 50 No. 51-66
Medellin, Colombia
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(Address of principal executive offices)
(Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.)
Form 20-F X Form 40-F
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(Indicate by check mark whether the registrant by furnishing the information
contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
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(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-______________.)
This Report on Form 6-K shall be incorporated by reference into the registrant's
registration statement on Form F-3 (File No. 333-12658).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BANCOLOMBIA S.A.
(Registrant)
Date: November 29, 2002 By /s/ JAIME ALBERTO VELASQUEZ B.
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Name: Jaime Alberto Velasquez B.
Title: Vice President of Finance
[LOGO]
[BANCOLOMBIA]
BANCOLOMBIA REPORTS ACCUMULATED NET INCOME OF PS 117,637 MILLION
FOR THE FIRST TEN MONTHS ENDED OCTOBER 31, 2002
Medellin, November 27, 2002. BANCOLOMBIA (NYSE:CIB)*
BANCOLOMBIA reported an accumulated net income of Ps 117,637 million for the ten
months ended October 31, 2002, a 50.1% increase when compared to Ps 78,360
million reported for the same period in 2001. BANCOLOMBIA reported a net income
of Ps 18,116 million for the month of October 2002, an increase of 11.8% when
compared to Ps 7,932 million for the month of September 2002.
Average assets in October increased 16.9% to Ps 8.5 trillion, and average
performing assets increased 22.9% to Ps 6.6 trillion over the last twelve
months. Average liabilities grew 18.2% from Ps 6.3 trillion to Ps 7.5 trillion
during the past twelve months.
Market Share
BANCOLOMBIA's market share as of September 2002, according to ASOBANCARIA
with respect to the Colombian Financial System, are as follows: total
deposits 12.2%, total net loans 12.7%, total savings accounts 11.2%, total
checking accounts 16.6%, and time deposits 11.2%.
Contacts:
Jaime A. Velasquez: Financial VP (574) 5108666
Maria A. Villa/ Juan D. Diaz: IR Manager (574) 5108866
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* Please note that the information contained herein sets forth and is based on
the unconsolidated, unaudited financial results of the Bank for the periods
specified and as calculated herein in accordance with Colombian GAAP. Such
information can therefore not be compared to and should not be used in any way
to interpret any information contained in Bancolombia's annual report on
Form 20-F for the year ended December 31, 2001 or in Bancolombia's quarterly
press releases, each of which contain the consolidated financial results of the
Bank and its subsidiaries for each of the periods specified and as calculated
each therein.
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 that could cause actual results to
differ materially from those indicated in such statements.