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Bancolombia reports net income of COP219.6 billion for March

Bancolombia, a provider of general banking products and services, has reported unconsolidated net income of COP219.6 billion for March 2008.

During March 2008, total net interest income, including investment securities, amounted to COP210.2 billion. Additionally, total net fees and income from services totaled COP60 billion.

The bank’s total assets amounted to COP33.03 trillion, total deposits totaled COP20.79 trillion and its total shareholders’ equity amounted to COP4.72 trillion.

As of March 31, 2008, the bank’s level of past due loans as a percentage of total loans was 3.04% and the level of allowance for past due loans was 127.69%.

According to Colombia’s national banking association Asobancaria, Bancolombia’s market share in the Colombian financial system as of March 2008 was 18.3% of total deposits, 21.5% of total net loans, 18.8% of total savings accounts, 21.4% of total checking accounts and 15.1% of total time deposits.