Year 2005
STATEMENT OF CONDITION
(Amount in thousands)
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| December 31, 2005 | ||
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| Group | Parent Company | |
| Resources | ||
| Cash and Other Cash Items | P 322,125 | P 320,514 |
| Due from Bangko Sentral ng Pilipinas | 1,064,129 | 1,063,757 |
| Due from Other Banks | 1,351,271 | 1,349,439 |
| Securities Purchased Under Reverse Repurchase Agreements | 334,676 | 334,676 |
| Financial Assets at Fair Value Through Profit or Loss - at market | 1,392,339 | 1,392,339 |
| Trading Account Securities - at market | - | - |
| Available-for-Sale Investments - at market | 128,160 | 128,160 |
| Held-to-Maturity - net | 4,564,975 | 4,564,975 |
| Investment in Bonds and Other Debt Instruments (net) | - | - |
| Loans and Receivables - net | 22,776,503 | 22,714,895 |
| Loans - net | - | - |
| Equity Investments - net | 228,691; | 218,613 |
| Building, improvements, furniture, fixtures & equipment - at cost, net | 386,273 | 382,787 |
| Investment Properties - net | 1,697,752 | 1,697,380 |
| Assets Held-For-Sale | 1,688,940 | 1,688,940 |
| Sales Contract Receivables | - | - |
| Other Resources - net | 1,595,562 | 1,590,518 |
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| Total Resources | P 37,653,421 | P 37,569,018 |
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| Liabilities and Capital Funds | ||
| Liabilities | ||
| Deposit Liabilities | ||
| Demand | P 3,015,176 | P 3,015,176 |
| Savings | 13,869,554 | 13,868,020 |
| Time | 7,605,449 | 7,781,231 |
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| 24,490,179 | 24,490,671 | |
| Bills Payable | 7,791,452 | 7,781,231 |
| Accrued Interest and Other Liabilities | 1,094,525 | 1,092,330 |
| Subordinated Debt | 981,721 | 981,721 |
| Cumulative Redeemable Preferred Shares | 133,333 | 133,333 |
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| 34,491,210 | 34,479,286 | |
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| Capital Funds | ||
| Preferred Stock | 12,000 | 12,000 |
| Common Stock | 1,152,516 | 1,152,516 |
| Additional Paid-in Capital | 79,034 | 79,034 |
| Appraisal Increment on Land - net | 36,930 | 36,930 |
| Net Unrealized Loss on Available-for-Sale Investments |
(6,898) | (6,898) |
| Surplus reserves | 40,245 | 40,245 |
| Surplus | 3,103,043 | 3,089,732 |
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| 3,103,043 | 3,089,732 | |
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| Minority Interests in Consolidated Subsidiaries | 59,168 | - |
| Total Capital Funds | 3,162,211 | 3,089,732 |
| Total Liabilities and Capital | P 37,653,421 | P 37,569,018 |
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STATEMENT OF INCOME
(Amounts in Thousands, Except Earnings per Share)
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| December 31, 2005 | ||
| Group | Parent Company | |
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| Interest Income on | ||
| Loans | P 2,529,535 | P 2,510,629 |
| Trading and investment securities | 405,237 | 405,237 |
| Deposits with banks and others | 256,582 | 256,014 |
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| 3,191,354 | 3,171,880 | |
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| Interest Expense on | ||
| Deposit liabilities | 1,246,213 | 1,244,316 |
| Other borrowings | 664,027 | 664,027 |
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| 1,910,240 | 1,908,343 | |
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| Net Interest Income | 1,281,114 | 1,263,537 |
| Provision for Impairment Losses | 173,618 | 172,239 |
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| Net Interest Earnings after Provision for Losses | 1,107,496 | 1,091,298 |
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| Other Income | ||
| Service charges, fees and commissions | 251,131 | 245,921 |
| Trading gains - net | 139,822 | 139,822 |
| Gain on sale of acquired assets | 57,165 | 57,165 |
| Mark to market gains on investment properties | 1,879 | 1,879 |
| Miscellaneous | 44,804 | 43,197 |
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| 494,801 | 487,984 | |
| Other Expenses | ||
| Compensation and fringe benefits | 404,292 | 395,751 |
| Taxes and licenses | 130,078 | 128,840 |
| Occupancy and equipment-related costs | 116,697 | 114,508 |
| Depreciation and Amortization | 70,440 | 67,800 |
| Litigation | 56,359 | 56,359 |
| Insurance | 51,613 | 51,186 |
| Amortization of intangibles | 47,711 | 47,711 |
| Data Processing | 39,865 | 39,865 |
| Secretarial, messengerial and janitorial services | 39,650 | 39,650 |
| Fuel and lubricants | 39,181 | 38,444 |
| Entertainment, amusement and recreation | 35,797 | 35,584 |
| Finance charges | 25,456 | 25,456 |
| Management and other professional services | 9,007 | 7,519 |
| Miscellaneous | 108,843 | 122,656 |
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| 1,174,929 | 1,148,340 | |
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| Profit before Income Tax | 427,368 | 430,942 |
| Income Tax Expense | 73,758 | 71,927 |
| Profit for the Year | P 353,610 | P 359,015 |
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| Attributable to: | ||
| Equity holders of the parent | P 353,610 | P 359,015 |
| Minority interests | 2,768 | - |
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| 356,378 | 359,015 | |
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| Earnings per share | ||
| Basic, for profit of the year attributable to ordinary equity holders of the parent |
P 2.741 | P 2.764 |
| Diluted, for profit of the year attributable to ordinary equity holders of the parent |
P 2.738 | P 2.761 |
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| Supplementary Information: | ||
| Profit of the year, as previously stated | P 356,378 | P 359,015 |
| Effect of change in accounting for: | ||
| Retirement benefits | - | - |
| Mark-to-market gain on investment property | - | - |
| Deferred tax liability on mark-to-market gain on government securities | - | - |
| Reversal of equity in net earnings of subsidiary | - | - |
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| Profit of the year, as restated | P 356,378 | P 359,015 |
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