Bancolombia S.A. Announces Unconsolidated Results for the Month of September 2009

MEDELLIN, Colombia, Oct. 13  /PRNewswire-FirstCall/ -- Bancolombia S.A. ("Bancolombia") (NYSE:CIB) reported unconsolidated net income of COP 91.8 billion for the month ended September 30, 2009. Net income for Bancolombia on an unconsolidated basis totaled COP 775.1 billion for the first nine months of 2009, decreasing 6.0% as compared to the same period last year.

  --  Net interest income, including interest from investment securities,
      totaled COP 187.9 billion in September 2009. For the nine month period
      ended September 30, 2009, net interest income totaled COP 1,937.6
      billion, increasing 3.0% as compared to the same period last year.


  --  Net fees and income from services totaled COP 71.6 billion in
      September 2009. For the nine month period ended September 30, 2009,
      net fees and income from services totaled COP 621.1 billion, which
      represents an increase of 6.6% as compared to the same period of 2008.


  --  Other operating income reached COP 6.1 billion in September 2009. For
      the nine month period ended September 30, 2009, other operating income
      totaled COP 234.0 billion, decreasing 46.1% as compared to the same
      period last year*.


  --  For the month ended September 30, 2009, net provision recoveries
      totaled COP 42.7 billion. Provision charges, net of recoveries,
      totaled COP 435.1 billion for the nine month period ended September
      30, 2009, which represents an increase of 7.8% as compared to the same
      period of 2008.


  --  Operating expenses totaled COP 167.7 billion in September 2009. For
      the nine month period ended September 30, 2009, operating expenses
      totaled COP 1,444.7 billion, increasing 11.4% as compared to the same
      period of 2008.



Total assets (unconsolidated) amounted to COP 38.8 trillion, gross loans amounted to COP 26.6 trillion, deposits totaled COP 25.0 trillion and Bancolombia's total shareholders' equity amounted to COP 6.4 trillion.

Bancolombia's unconsolidated level of past due loans (overdue more than 30 days) as a percentage of total loans was 3.76% as of September 30, 2009, and the coverage for past due loans was 142.17% as of the same date.

Market Share

According to ASOBANCARIA (Colombia's national banking association), BANCOLOMBIA's market share of the Colombian financial system in September 2009, was as follows: 21.0% of total net loans, 21.1% of total checking accounts, 19.5% of total savings accounts, 15.8% of time deposits and 18.5% 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.

* Bancolombia notes that a considerable part of other operating income 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. 

DATASOURCE: Bancolombia S.A.



CONTACT:  Sergio Restrepo, Executive VP, +011-574-404-1424, or Jaime A.

Velasquez, Financial VP, +011-574-404-2199, or Juan E. Toro, IR Manager,

+011-574-404-1837, all of Bancolombia

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