Bancolombia S.A. Announces the Sale of an Unproductive Portfolio
MEDELLIN, Colombia, June 4 /PRNewswire-FirstCall/ -- Bancolombia S.A. (NYSE: CIB) clarifies information published in the Colombian media:
- Bancolombia sold an unproductive portfolio (100% charged-off) representing a capital amount of COP 122,270,618,929 (approximately USD 62.3 million) to Compania Reintegra SAS. Of this amount, Bancolombia S.A. sold a portion of the portfolio representing COP 118,781,641,226 and Factoring Bancolombia S.A. C.F. sold a portion of the portfolio representing COP 3,488,977,703 (together, the Transaction).
- Pursuant to the Transaction, Bancolombia S.A. will receive COP 10,639,431,523 (USD 5.4 million) and Factoring Bancolombia S.A. C.F. will receive COP 110,411,011 (approximately USD 56,000).
Contacts |
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Sergio Restrepo |
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Executive VP |
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Tel.: (574)4041424 |
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Jaime A. Velasquez |
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Financial VP |
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Tel.: (574) 4042199 |
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Juan E. Toro |
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IR Manager |
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Tel.: (574) 4041837 |
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SOURCE Bancolombia S.A.
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