Profile: Bancolombia SA (CIB.N)
28 Jul 2014
Bancolombia S.A. (Bancolombia or the Bank), incorporated in 1945, is a full-service financial institution that provides a range of financial products and services to a diversified individual and corporate customer base throughout Colombia, as well as in other jurisdictions, such as Panama, El Salvador, Puerto Rico, the Cayman Islands, Peru, Brazil, the United States and Spain. The Bank operates in nine segments: Banking Colombia, Banking El Salvador, Leasing, Trust, Investment, Brokerage, Off Shore, Pension and Insurance, and All other segments. Together with its subsidiaries, the Bank provides a range products and services, including savings and investment, financing, mortgage banking, factoring, financial and operating leases, treasury, comprehensive cash management, foreign currency, bancassurance and insurance, brokerage services, investment banking, and asset management and trust services. As of December 31, 2010, the Bank’s consolidated branch network consisted of 921 offices, which included 736 from Bancolombia, 102 from Banagricola and 83 from other subsidiaries. As of December 31, 2010, the Bank had a total of 2,945 automated teller machines (ATMs), including 2,544 machines in Colombia and 401 ATMs in El Salvador.
On January 4, 2010, Banca de Inversion Bancolombia S.A. Corporacion Financiera (Banca de Inversion), a subsidiary of the Company, sold 98.252% of the outstanding shares of Inversiones, Valores Y Logistica S.A. En Liquidacion, to Inversiones Egeo I S.A.S. In March 2010, Leasing Bancolombia S.A. Compania de Financiamiento Comercial (Leasing Bancolombia), a subsidiary of the Bank, signed a stockholders purchase agreement with Mitsubishi Corporation to acquire the shares that Mitsubishi has in Renting Colombia S.A. Therefore, Leasing Bancolombia S.A. owns 94.5% of Renting Colombia S.A. On March 19, 2010, assets, liabilities and contracts of Sufinanciamiento S.A. Compania de Financiamiento were assigned to its parent company, Bancolombia S.A.
The Banking Colombia segment provides retail and corporate banking products and services to individuals, companies and national and local governments in Colombia. In order to offer specialized services to individuals and small and medium size enterprises (SMEs), the Bank’s retail sales force targets the clients classified as: Personal, Private, Entrepreneurs, Foreign Residents and SMEs. The Bank’s corporate and government sales force targets and specialize in companies with more than COP 16,000 million in revenue of nine economic sectors: Agribusiness, Commerce, Manufacturing of Supplies and Materials, Media, Financial Services, Non-Financial Services, Construction, Government and Natural Resources.
Banking El Salvador
The Banking El Salvador segment provides retail and commercial banking products and services to individuals, companies and national and local governments in El Salvador. Banking El Salvador also includes operations of the subsidiaries Arrendadora Financiera S.A., Credibac S.A. de CV and Bursabac S.A. de CV.
The leasing segment provides financial and operational leases, including cross-border and international leasing services to clients in Colombia, Central America, Mexico and Brazil. Bancolombia offers these services mainly through the Subsidiaries, which includes Leasing Bancolombia S.A., Renting Colombia S.A., Renting Peru S.A.C., Leasing Peru S.A., Tempo Rent a Car S.A. and Capital Investment Safi S.A.
The trust segment provides trust services and asset management to clients in Colombia and Peru through Fiduciaria Bancolombia and Fiduciaria GBC S.A. The main products offered by this segment include money market accounts, mutual and pension funds, private equity funds, payment trust, custody services, and corporate trust.
The Investment Banking segment provides corporate and project finance advisory, underwriting, capital markets services and private equity management through Banca de Inversion Bancolombia S.A. The Company’s customers include private and publicly-held corporations, as well as government institutions.
The Brokerage segment provides brokerage, investment advisory and private banking services to individuals and institutions through Valores Bancolombia S.A., Valores Bancolombia Panama S.A. and Suvalor Panama Fondos de Inversion. It sells and distributes equities, futures, foreign currencies, fixed income securities, mutual funds and structured products.
The Off Shore segment provides a line of offshore banking services to Colombian and Salvadorian customers through Bancolombia Panama S.A., Bancolombia Cayman, and Bancolombia Puerto Rico International Inc. It offers loans to private sector companies, trade financing, lease financing, financing for industrial projects, as well as a portfolio of cash management products, such as checking accounts, international collections and payments. Through these Subsidiaries, the Bank also offers investment opportunities in United States dollars, savings and checking accounts, time deposits, and investment funds.
Pension and Insurance and All other segments
The Pension and Insurance segment provides pension plan administration and insurance services to individuals and companies in El Salvador through Crecer S.A., Aseguradora Suiza Salvadorena S.A. and Asesuisa Vida S.A. All other segments includes results from small operation of particular investment vehicles of Bancolombia: Valores Simesa, Inmobiliaria Bancol, Todo1 Colombia S.A., Inversiones CFNS, CFNS Infraestructura S.A.S, Sinesa, Sinesa Holding, Future Net, Vivayco S.A.S., Banagricola, Inversiones Financieras Banco Agricola, Banco Agricola Panama and others.
The Company competes with Banco de Bogota, Davivienda, BBVA, Banco de Occidente, Citibank, Banco Popular, HSBC, Scotiabank and BAC.
Cra. 48 26 - 85 Av. Industriales