Bancolombia S.A. provides financial products and services to individual and corporate customers in Colombia, Panama, El Salvador, Puerto Rico, the Cayman Islands, Peru, Brazil, the United States, and Spain. The company offers checking accounts, savings accounts, fixed term deposits, and various investment products. It also provides trade financing, loans funded by domestic development banks, working capital loans, credit cards, personal loans, vehicle loans, payroll loans, and overdrafts. In addition, the company offers mortgage banking, factoring, financial and operating leases, treasury, cash management, foreign currency, bancassurance and insurance, brokerage, investment banking, and asset management and trust services, as well as credit card unemployment insurance and electronic payment of taxes. Further, it provides financial and operational leases, including cross-border and international leasing services; investment banking services for corporate customers in areas of mergers and acquisitions, project finance, issuances of debt and equity securities, and syndicated loan transactions; and pension fund management services. The company provides its products and services through a traditional branch network, and sales and customer representatives, as well as through mobile branches, non-banking correspondents, an ATM network, online and computer banking, telephone banking, mobile phone banking, and Punto de Atención Cercano (PACs). As of December 31, 2009, its branch network consisted of 900 offices. The company also operates 2,669 ATMs, including 2,271 machines in Colombia and 398 ATMs in El Salvador; and a network of 8,049 PACs. Bancolombia S.A. was founded in 1945 and is headquartered in Medellin, the Republic of Colombia. less
Bancolombia S.A. provides financial products and services to individual and corporate customers in Colombia, Panama, El Salvador, Puerto Rico, the Cayman Islands, Peru, Brazil, the United States, and Spain. The company offers checking accounts, savings accounts, fixed term deposits, and various investment products. It also provides trade financing, loans funded by domestic development banks, worki... more
[Bloomberg] Bancolombia SA (ADR) (NYSE:CIB)(TREND ANALYSIS) fell to a three-week low after JPMorgan Chase & Co. cut its buy rating on shares of Colombia's largest bank, citing expectations for a slowing economy to boost losses on loans.
There are two choices for investors seeking exposure to Colombian banks without leaving the safety and security of the U.S. that have ADRs listed in the NYSE. These are Grupo Aval Acciones Y Valores (NYSE:AVAL) and Bancolombia (NYSE:CIB).
Bancolombia's earnings per share for the fourth quarter beat the median analyst estimate by 6% with earnings per share coming in at $0.89 per ADR or $0.05 higher than forecast. This was a somewhat surprising result given the sharp impact of the ...
JPMorgan lowered its target price for the ADRs to $40 by the end of next year from $47. The U.S. lender now has a “slight preference” for Colombian banking group Grupo Aval Acciones y Valores SA, which might have more resilient earnings, Martinez wrote.