MEDELLIN, Colombia, March 10 /PRNewswire-FirstCall/ -- Today, BANCOLOMBIA S.A. ("BANCOLOMBIA" or the "Bank") (NYSE:CIB) announced its financial results for the fourth quarter of fiscal year 2007, ended December 31, 2007.
HIGHLIGHTS: -- For the fourth quarter of 2007 net income amounted to Ps. 322.5
billion. Net income for the year ended December 31, 2007 totaled
Ps. 1,086.9 billion, increasing 31.0% as compared to the pro forma
Ps. 829.5 billion for the year ended December 31, 2006.
-- As of December 31, 2007, BANCOLOMBIA net loans totaled
Ps. 36,245 billion, increasing 6.0% as compared to the Ps. 34,188
billion in the previous quarter. On a year-to-year basis, this
represents an increase of 24.1% as compared to the pro forma Ps. 29,208
billion as of December 31, 2006.
-- Return on average equity (ROAE) was 24.41% for the year 2007.
-- For the year ended December 31, 2007, net interest income amounted to
Ps. 2,808.3 billion, increasing 32.9% as compared to the pro forma
figures for the year ended December 31, 2006.
-- Net fees and income from services for the quarter ended December 31,
2007, totaled Ps. 348.8 billion, which represents an increase of 19.9%
as compared to the pro forma figures for the last quarter of 2006.
-- Total operating expenses for the year ended December 31, 2007 amounted
to Ps. 2,201.3 billion, increasing 6.1% as compared to the Ps. 2,074.6
billion pro forma figures for the year ended December 31, 2006. Efficiency, measured as the ratio between operating expenses and net
operating income, reached 53.0% for the year ended December 31, 2007.
-- Provisions for loan and accrued interest losses for the year ended
December 31, 2007 amounted to Ps. 708 billion, increasing 117.9% when
compared to the same period of 2006.
-- BANCOLOMBIA's ratio of past due loans to total loans as of December 31,
2007 was 2.9%, and the ratio of allowances to past due loans was
134.9%. DATASOURCE: Bancolombia S.A.
CONTACT: Sergio Restrepo, Executive VP, +011-574-5108668, or Jaime A.
Velasquez, Financial VP, +011-574-5108666, or Juan Esteban Toro, IR Manager, +011-574-510-8866, all for Bancolombia S.A.
Web site: http://www.bancolombia.com.co/
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