Bancolombia (CIB) 6-K Current report (foreign)

CONFORMED COPY
 

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1933

For the month of April 2007

BANCOLOMBIA S.A.

(Translation of Registrant’s name into English)

Calle 50 No. 51-66
Medellín, Colombia
(Address of principal executive offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-Fþ Form 40-Fo

(Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

Yeso Noþ

(If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-                    .)

This Report on Form 6-K shall be incorporated by reference into the registrant’s registration statement onForm F-3(File No. 001-32535).

APPROVAL TO THE INCORPORATION OF A SUBSIDIARY OF RENTING COLOMBIA S.A.

Medellín, Colombia, April 24, 2007

The Board of Directors of Renting Colombia S.A. (“Renting Colombia”), a subsidiary of Bancolombia S.A., approved the incorporation of a subsidiary. With this new subsidiary, Renting Colombia will be able to use a franchise obtained from Localiza, a Brazilian company dedicated to the leasing of vehicles. The new subsidiary will be asociedad anónimain which Renting Colombia will be the major shareholder.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	BANCOLOMBIA S.A. (Registrant)
Date: April 24, 2007	By	/s/ JAIME ALBERTO VELÁSQUEZ B.
		Name:	Jaime Alberto Velásquez B.
		Title:	Vice President of Finance