MEDELLIN, Colombia, April 14 /PRNewswire-FirstCall/ -- Bancolombia S.A. ("Bancolombia") (CIB) reported unconsolidated net income of Ps. 129.0 billion for the month ended March 31, 2009. Net income for Bancolombia on an unconsolidated basis totaled Ps. 362.2 billion for the first three months of 2009, increasing 9.1% as compared to the same period last year. - Net interest income, including investment securities, totaled Ps. 238.1 billion in March 2009. For the three month period ended March 31, 2009, net interest income totaled Ps. 696.6 billion, increasing 19.7% as compared to the same period last year. - Net fees and income from services totaled Ps. 71.8 billion in March 2009. For the three month period ended March 31, 2009, net fees and income from services totaled Ps. 200.3 billion, which represents an increase of 9.5% as compared to the same period of 2008. - Other operating income totaled Ps. 107.5 billion in March 2009. For the three month period ended March 31, 2009, other operating income totaled Ps. 220.4 billion, decreasing 15.0% as compared to the same period last year. Bancolombia notes that a considerable part of this revenue comes from dividend income received from subsidiaries, which is eliminated in the consolidated results as it is an intercompany transaction. As a result, this dividend income is only recorded in Bancolombia's unconsolidated results (Ps. 64.4 billion corresponding to dividend income from subsidiaries for the month of March will be eliminated in the consolidated results). The Bank also notes that the line item of income from derivative financial instruments was negatively impacted by a Ps 20.1 billion charge in March, related to rule changes concerning valuation methodologies for derivative instruments established by the Colombian regulator. - Net provisions charges totaled Ps. 89.5 billion in March 2009, increasing 131.6% as compared to the figure presented in February 2009. Net provisions totaled Ps. 210.5 billion for the three month period ended March 31, 2009, which represents an increase of 103.7% as compared to the same period of 2008. - Operating expenses totaled Ps. 174.7 billion in March 2009. For the three month period ended March 31, 2009, operating expenses totaled Ps. 496.4 billion, increasing 21.4% as compared to the same period of 2008. Total assets (unconsolidated) amounted to Ps. 40.1 trillion, gross loans amounted to Ps. 27.8 trillion, deposits totaled Ps. 26.1 trillion and Bancolombia's total shareholders' equity amounted to Ps. 5.9 trillion. Bancolombia's unconsolidated level of past due loans (overdue more than 30 days) as a percentage of total loans was 3.90% as of March 31, 2009, and the coverage for past due loans was 140.4% 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 March 2009 was as follows: 21.6% of total net loans, 21.4% of total checking accounts, 19.7% of total savings accounts, 17.0% of time deposits and 19.0% of total deposits. * This report corresponds to the unconsolidated financial statements of Bancolombia. The numbers contained herein are subject to review by the relevant Colombian authorities. This information has been prepared in accordance with generally accepted accounting principles in Colombia and is stated in nominal terms. DATASOURCE: Bancolombia S.A. CONTACT: Sergio Restrepo, Executive VP, +011-574-4041424, or Jaime A. Velasquez, Financial VP, +011-574-4042199, or Juan Esteban Toro, IR Manager, +011-574-4041837, all of Bancolombia Web site: http://www.bancolombia.com.co/

Copyright