BANCOLOMBIA SA | CIK:0001071371 | 3

  • Filed: 4/30/2018
  • Entity registrant name: BANCOLOMBIA SA (CIK: 0001071371)
  • Generator: DataTracks
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1071371/000114420418023396/0001144204-18-023396-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1071371/000114420418023396/cib-20171231.xml
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    • ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory

    The following table sets forth the changes in the allowance for loans and advances and lease losses as of December 31, 2017, 2016 and 2015:
     
    As of December 31, 2017
     
    Concept
    Commercial
    Consumer
    Mortgage
    Financial
    Leases
    Small
    business
    loans
    Total
    In millions of COP
     +Balance at beginning of period
    3,499,791
    1,791,123
    653,936
    567,046
    110,015
    6,621,911
     + Provisions for loan losses (1)
    3,594,310
    2,310,518
    284,392
    276,687
    119,690
    6,585,597
     - Charges-off
    (792,145)
    (1,302,630)
    (37,677)
    (77,762)
    (65,086)
    (2,275,300)
     - Recoveries (1)
    (1,783,649)
    (510,684)
    (253,578)
    (133,986)
    (24,141)
    (2,706,038)
     +/- Translation adjustment
    (4,127)
    3,502
    (1,972)
    (583)
    113
    (3,067)
     = Balance at end of year
    4,514,180
    2,291,829
    645,101
    631,402
    140,591
    8,223,103
     
    (1)
    The provision for loan losses, net COP 3,879,559 differs from the COP 3,468,699 presents in the line “Credit impairment charges on loans and advances and financial leases, net” of the Consolidated Statement of Income, in the amount of COP 410,860 due to the recovery of charged-off loans.
      
    As of December 31, 2016
     
    Concept
    Commercial
    Consumer
    Mortgage
    Financial
    Leases
    Small
    business
    loans
    Total
    In millions of COP
     +Balance at beginning of period
    2,694,965
    1,321,281
    572,772
    579,151
    80,586
    5,248,755
    +Allowance for loan of PA Leasing
    -
    -
    -
    27,825
    -
    27,825
     + Provisions for loan losses (1)
    2,684,559
    1,922,315
    225,291
    221,694
    95,272
    5,149,131
     - Charges-off
    (489,573)
    (902,400)
    (24,619)
    (74,900)
    (41,710)
    (1,533,202)
     - Recoveries (1)
    (1,379,288)
    (525,510)
    (109,912)
    (180,537)
    (23,645)
    (2,218,892)
     +/- Translation adjustment
    (10,872)
    (24,563)
    (9,596)
    (6,187)
    (488)
    (51,706)
     = Balance at end of year
    3,499,791
    1,791,123
    653,936
    567,046
    110,015
    6,621,911
     
    (1)
    The provision for loan losses, net COP 2,930,239 differs from the COP 2,643,710 presents in the line “Credit impairment charges on loans and advances and financial leases, net” of the Consolidated Statement of Income, in the amount of COP 286,529 due to the recovery of charged-off loans.
     
    The sale of Compañia de Financiamiento Tuya S.A took place on October 31, 2016. The amounts recognized until that date are presented in the line “Net income from discontinued operations” of the Statement of Income, the following table is the movement associated with this company:
     
    Concept
    December 31, 2016
     +Balance at beginning of period
    351,375
     + Provisions for loan losses (*)
    465,947
     - Charges-off
    (228,757)
     - Recoveries (*)
    (147,668)
     = Balance at end of year
    440,897
     
    (*)
    The provision for loan losses net of COP 318,279 differs from the COP 323,290 presented in “Credit impairment charges on loans and advances and financial leases, net" in note 30. Discontinued operations, in the amount of COP 5,011 due to provision on off balance sheet credit exposures that is accounted for as a liability under IAS 37.
     
    As of December 31, 2015
     
    Concept
    Commercial
    Consumer
    Mortgage
    Financial
    Leases
    Small
    business
    loans
    Total
    In millions of COP
     +Balance at beginning of period
    2,360,488
    1,479,460
    456,983
    415,766
    76,560
    4,789,257
    - Discontinued operations(1)
    -
    (282,098)
    -
    -
    -
    (282,098)
     + Provisions for loan losses (2)
    2,671,337
    697,282
    145,663
    498,092
    47,880
    4,060,254
     - Charges-off
    (711,257)
    (629,628)
    (12,765)
    (31,723)
    (36,682)
    (1,422,055)
     - Recoveries(2)
    (1,709,293)
    (64,340)
    (63,632)
    (328,183)
    (9,947)
    (2,175,395)
     +/- Translation adjustment
    83,690
    120,605
    46,523
    25,199
    2,775
    278,792
     = Balance at end of year
    2,694,965
    1,321,281
    572,772
    579,151
    80,586
    5,248,755
     
    (1)
    As of December 31, 2015, Compañía de Financiamiento Tuya S.A. was considered as a discontinued operation, see Note 30 Discontinued Operation. In October 2016, this sale was completed.
    (2)
    The provision for loan losses, net COP 1,884,859 differs from the COP 1,667,680 presented in the line “Credit impairment charges on loans and advances and financial leases, net” of the Consolidated Statement of Income in the amount of COP 217,179 due to the recovery of charged-off loans.
     
    The changes in the allowance for loan losses for Tuya as of December 31, 2015 is as follows:
     
    Concept
    December 31, 2015
     +Balance at beginning of period
    282,098
     + Provisions for loan losses (*)
    446,614
     - Charges-off
    (236,196)
     - Recoveries (*)
    (141,141)
     = Balance at end of year
    351,375
     
    (*)
    The provision for loan losses net of COP 305,473 differs from the COP 324,309 presented in “Credit impairment charges on loans and advances and financial leases, net” in note 30 discontinued operations, in the amount of COP 18,836 due to the expense of the contingent component of credit cards.