Year 2004
STATEMENT OF CONDITION
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| December 31, 2004 | ||
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| Resources | ||
| Cash and Other Cash Items | P 465,995,446 | |
| Due from Bangko Sentral ng Pilipinas | 415,240,458 | |
| Due from Other Banks | 1,695,400,741 | |
| Securities Purchased Under Reverse Repurchase Agreements | 634,865,430 | |
| Trading Account Securities | 796,987,677 | |
| Investment in Bonds and Other Debt Instruments (net) | 4,846,552,064 | |
| Loans (net) | 16,107,541,737 | |
| Equity Investments (net) | 119,123,495 | |
| Property and Equipment (net) | 504,315,446 | |
| Real and Other Properties Owned or Acquired (net) | 3,029,836,896 | |
| Investment in Real Estate (at revalued amount) | 409,220,000 | |
| Sales Contract Receivables | 2,164,080,807 | |
| Other Resources (net) | 2,322,144,351 | |
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| Total Resources | P 33,511,304,548 | |
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| Liabilities and Capital Funds | ||
| Liabilities | ||
| Deposit Liabilities | ||
| Demand | P 2,190,752,861 | |
| Savings | 11,655,649,763 | |
| Time | 6,334,589,275 | |
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| 20,180,991,899 | ||
| Bills Payable | 8,018,898,485 | |
| Subordinated Debt | 1,009,264,400 | |
| Accrued Interest and Other Liabilities | 1,293,693,045 | |
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| 30,502,847,829 | ||
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| Capital Funds | ||
| Preferred Stock | 278,666,667 | |
| Common Stock | 1,152,516,620 | |
| Capital paid in excess of par value | 79,033,695 | |
| Appraisal increment on land | 370,173,607 | |
| Surplus reserves | 40,155,602 | |
| Surplus | 1,087,910,528 | |
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| 3,008,456,719 | ||
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| Total Liabilities and Capital | P 33,511,304,548 | |
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STATEMENT OF EARNINGS
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| For the year ended December 31, 2004 |
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| Interest Earnings on | ||
| Loans | P 2,048,357,068 | |
| Trading and investment securities | 434,696,995 | |
| Deposits with banks and others | 242,066,430 | |
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| 2,725,120,493 | ||
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| Interest Expense on | ||
| Deposit liabilities | 1,125,236,198 | |
| Other borrowings | 595,839,303 | |
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| 1,721,075,501 | ||
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| Net Interest Earnings | 1,004,044,992 | |
| Provision for Probable Losses | 139,689,337 | |
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| Net Interest Earnings after Provision for Probable Losses |
864,355,655 | |
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| Other Earnings | ||
| Service charges, fees and commissions | 196,289,575 | |
| Gain on sale of acquired assets | 69,263,208 | |
| Trading gains (net) | 11,272,351 | |
| Miscellaneous | 406,291,869 | |
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| 683,117,003 | ||
| Other Expenses | ||
| Compensation and fringe benefits | 354,590,303 | |
| Taxes and licenses | 105,704,668 | |
| Occupancy and equipment-related costs | 104,121,706 | |
| Litigation | 62,969,531 | |
| Amortization of intangibles | 53,056,930 | |
| Depreciation and Amortization | 51,980,420 | |
| Insurance | 45,913,271 | |
| Finance charges | 44,307,271 | |
| Management and other professional services | 41,154,893 | |
| Secretarial, messengerial and janitorial services | 37,907,440 | |
| Fuel and lubricants | 36,198,325 | |
| Data processing | 35,916,176 | |
| Entertainment, amusement and recreation | 33,724,950 | |
| Miscellaneous | 122,510,652 | |
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| 1,130,056,536 | ||
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| Earnings before Income Tax | 417,416,122 | |
| Provision for Income Tax | 15,093,791 | |
| Net Earnings | P 402,322,331 | |
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| Earnings per share | ||
| Basic | P 2.97 | |
| Diluted | 2.96 | |
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