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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  • EDGAR Dashboard: https://edgardashboard.xbrlcloud.com/edgar-dashboard/?cik=0001071371
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  • ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory

    As of December 31, 2017 and 2016 the appropriated retained earnings consist of the following:
     
    Concept
    December 31, 2017
    December 31, 2016
     
    In millions of COP
    Appropriation of net income  (1)
    8,709,922
                                     6,871,092
     
    For Fiscal provisions  (3)
                         196,318
                   551,341
    (2)
    Others
                         138,915
                      49,976
     
    Total Appropiated reserves
                      9,045,155
                                      7,472,409
     
       
    (1)
    The legal reserve fulfills two objetives: to increase and maintain the company's capital and to absorb economic losses. Based on the aforementioned, this amount shall not be distributed in dividends to the stockholders.
    (2)
    Pursuant to Decree 2336 of 1995, a reserve was established until 2016 for profits related to the valuation of investmentes held for trading purposes by the Bank.
    (3)
    Pursuant to Article 130 of Tax Statute, a non-distributable reserve to the shareholders must be established for the 70% of the diference between the accounting and the tax depreciation, when the tax depreciation is greater than the accounting depreciation.