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Bancolombia S.A. 2016 Q2 – Results – Earnings Call Slides

Bancolombia S.A. 2016 Q2 – Results – Earnings Call Slides

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Date19 Aug 2016

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CategoriesFinancial Sector and Stocks Analysis

The following slide deck was published by Bancolombia S.A. in conjunction with their 2016 Q2 earnings call.

115

Investor Relations 2Q16 Results 1

Net interest income grew 37.2% compared to 2Q15 The net interest margin was 6.1% for the quarter Net fees increased by 12.4% compared to 2Q15 Tier 1 increased during the quarter to 8.5% Efficiency for 2Q16 was 48.2%, improving compared to 1Q16 2

Profit before tax Net Income* 2Q16/2Q15 +23% 2Q16/2Q15 +6% 2Q16/1Q16 +13% 2Q16/1Q16 +84% 1,107 898 979 733 689 397 -210 -145 -363 -551 2Q15 1Q16 2Q16 Profit before Tax Income Tax Net Income Tax on Wealth *Net income is profit before taxes minus taxes, minus minority interest, COP billionisc3ntinued operations

During the past few years Latin America has been experiencing a period of poor economic growth. However, beyond this general trend there are significant differences across countries. While some economies will still be stuck in recession, others will grow below the overall trendand a last group will manage to expand above the average of the past decade. In Central America, several economies are benefiting from low commodity prices and a stable growth in the US. For Colombia, we recently revised our FY 2016 growth forecast from 2.6% to 2.4%. We think that growth will be affected by contractive monetary and fiscal policy measures, which will coincide with a lackluster performance of private investment and a less solid internal consumption. Regarding inflation, Colombia is the exception in a tendency of low price pressures. But as the second half passes and the economy cools off, we expect that inflation will moderate and close this year at 6.5%. With these prospects, our monetary policy call is that the Central Bank will remain on hold for the remainder of the year. In Guatemala inflation will remain within the target range and in dollarized economies prices pressures will be muted. Position of selected economies in the business cycle Consumer inflation and Central Banks target range (standardized output gap index) (% change) 2.5 Range since 2011 2016 year end forecasLast Target range 2 10% 8.97% 9% 8.97% 1.5 8% 7.63% 6.82% 6.83% 1 7% 6% 6.5% 0.5 Guatemala El Salvador 5% 4.62% 0 Mxico 4% 3.80% Colombia Panam Chile Per 3% -0.5 2% Argentina 1% 1.75% 1.88% 0.8% 1.3% -1 0.6% 0.9% 0% -1.5 -1% -0.45% Brasil -2 -2% -3% -2.26% -2.5 Colombia Guatemala Panama El Salvador 4

Total Assets Total Gross Loans 2Q16/2Q15 +19% 2Q16/2Q15 +20% 2Q16/1Q16 -2% 2Q16/1Q16 +1% 192,973 191,385 188,399 174,875 17% 156,503 158,263 16% 16% 16% 7% 8% 7% 15% 15% 8% 8% 8% 76% 76% 76% 77% 77% 77% 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 Gross Loans Net Investments Other 5

Asset Quality and Coverage Ratios 2Q15 1Q16 2Q16 PDLs/Total Loans 3.1% 3.3% 3.1% Allowances/Total Loans 3.9% 3.5% 3.8% Allowances/PDLs 121.7% 106.2% 121.4% Allowances/C,D & E Loans 100.4% 86.0% 80.0% PDLs and Coverage per Category % of loan Overdue 30 days Overdue 90 days portfolio 2Q16 2Q15 1Q16 2Q16 2Q15 1Q16 2Q16 Commercial & Leases 71.7% 2.0% 2.4% 2.0% 1.4% 1.7% 1.5% Consumer 15.8% 4.5% 4.8% 5.0% 2.3% 3.1% 3.3% Mortgage 12.5% 6.7% 6.8% 6.9% 3.2% 2.6% 2.7% Total 100% 3.1% 3.3% 3.1% 1.8% 2.0% 1.9% PDL Coverage 122% 106% 121% 215% 192% 194% 6

Net Provision Charges 2Q16/2Q15 +52% 628 2Q16/1Q16 +16% 540 491 415 460 300 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 Asset Quality Evolution 2Q15 3Q15 4Q15 1Q16 2Q16 Initial PDLs 3,424 3,604 3,930 4,188 4,646 New PDLs* 446 581 615** 810 24 Charge-offs (265) (254) (357) (352) (313) Final PDLs 3,604 3,930 4,188 4,646 4,357 *New PDLs is the sum of PDLs change and charge-offs for the period 7

Net Interest Income 2Q16/2Q15 +37% 2,299 2,432 2Q16/1Q16 +6% 102 89 1,772 2,198 2,344 1,790 (18) 2Q15 1Q16 2Q16 Net Loans Income Net Investments Income Funding Cost 2Q15 1Q16 2Q16 Funding Composition Checking Accounts 0.00% 0.00% 0.00% 14% 14% 13% Savings Accounts 1.35% 1.77% 2.01% 30% 29% 29% Time Deposits 4.42% 5.13% 5.67% Cost of Deposits 2.34% 2.79% 3.15% 30% 29% 31% Long Term Debt 6.24% 7.18% 7.20% 11% 12% 12% Other 1.97% 2.54% 2.58% 15% 16% 15% Funding Cost 2.76% 3.27% 3.54% 2Q15 1Q16 2Q16 Central Bank Rate 4.50% 6.50% 7.50% Other Credits Long Term Debt Time Deposits Savings Deposits Checking Accounts 8

6.4% 6.0% 5.6% 5.9% 6.1% 5.4% 3.0% 2.8% -0.6% 2Q15 1Q16 2Q16 Investments net interest marginNet interest margin Loans net interest margin 9

Composition of Gross Fees 2Q16/2Q15 +18% 2Q16/1Q16 +5% 815 775 124 689 119 72 103 71 66 72 91 57 69 52 50 271 270 253 191 200 148 2Q15 1Q16 2Q16 Banking services Cards Payments and collections Bancassurance Trust Other* COP billion 10

Total Operating Expenses Composition of Operating Expen*es 2Q16/2Q15 +21% 1,075 2Q16/1Q16 -8% 1,774 959 1,641 802 1,354 699 682 552 2Q15 1Q16 2Q16 Personnel ExpensesAdministrative Expenses 2Q15 1Q16 2Q16 70% 7% 60% 6% 54.2% 50.8% 48.2% 50% 4.4% 5% 4.1% 40% 4.0% 4% 30% 3% Operating Expenses to Net Operating Income Operating Expenses to Interest Earning Assets 20% 2% 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 * Personnel expenses are the sum of salaries and employee benefits, as well as bonus plan payments and

150,000 145,000 Deposits & Liquidity 139,433 140,060 140,000 2Q16/2Q15 +18% 135,000 2Q16/1Q16 -2% 130,000 )120,000 116,513 115,000 110,356 Depo110,000 116,806 114,586 andBillion0 97,208 100,000 CO90,000 Loans85,000 94,769 Net Loans Deposits 80,000 Net 75,000 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 Shareholders Equity Capital Adequacy 2Q16/2Q15 +7% 2Q16/1Q16 +3% 13.7% 13.0% 13.2% 19,337 18,684 5.5% 4.8% 4.7% 18,085 8.2% 8.2% 8.5% 2Q15 1Q16 2Q16 2Q15 1Q16 2Q16 Tier 1Tier 2 12

18% 15.2% 5% 16% 14.2% 15.5% 13.8% 4% 14% 12% 11.2% 10% 3% 8.1% 8% 1.6% 1.8% 6% 1.3% 1.5% 1.5% 2% 4% 0.8% 1% 2% 0% 0% 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 ROE ROA Cumulative ROE for the year 2016: 11.6% Cumulative ROA for the year 2016: 1.2% 13

This report corresponds to the interim unaudited consolidated financial statements of BANCOLOMBIA S.A. and its subsidiaries (BANCOLOMBIA or The Bank) which Bancolombia controls, amongst others, by owning directly or indirectly, more than 50% of the voting capital stock. These financial statements have been prepared in accordance with International Financial Reporting Standards IFRS. BANCOLOMBIA maintains accounting records in Colombian pesos, referred to herein as Ps. or COP. The statements of income for the quarter ended June 30, 2016 are not necessarily indicative of the results for any other future interim period. For more information, please refer to the Bank's filings with the Securities and Exchange Commission, which are available on the Commission's website at www.sec.gov. CAUTIONARY NOTE REGARDING CHANGES IN THE BANKS ACCOUNTING POLICIES: CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties; consequently, there are or will be factors, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products by other companies, lack of acceptances of new products or services by our targeted customers, changes in business strategy and various others factors, that could cause actual results to differ materially from those indicated in such statements. We do not intend, and do not assume any obligation, to update these forward-looking statements. Certain monetary amounts, percentages and other figures included in this report have been subject to rounding adjustments. Any reference to BANCOLOMBIA means the Bank together with its affiliates, unless otherwise specified. 14

Investor Relations 2Q16 Results 15

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