COVER SHEET - BDO · Taxes and licenses 1,067 903 508 456 Insurance 450 411 Advertising 541 580...
Transcript of COVER SHEET - BDO · Taxes and licenses 1,067 903 508 456 Insurance 450 411 Advertising 541 580...
COVER SHEET
3 4 0 0 1S.E.C. Registration Number
B D O U N I B A N K , I N C .
(COMPANY'S FULL NAME)B D O C O R P O R A T E C E N T E R , 7 8 9 9
M A K A T I A V E N U E , M A K A T I C I T Y(BUSINESS ADDRESS: NO. STREET CITY/TOWN/PROVINCE)
RUBY A. CRUZContact Person Company Telephone Number
0 3 3 1 S E C 1 7 - Q Every last Friday of the month of MayMonth Day Form Type
Annual Meeting
Secondary License type, if applicable
C F DDept. Requiring this Doc. Amended Articles Number/Section
13,434 Total Amount of Borrowings
Domestic Foreign
To be Accomplished by SEC Personnel concerned
File Number LCU
Document I.D. Cashier
Stamps
856-7434/840-7000 loc 4575
Total No.of Stockholders
Remarks: Pls. Use black ink of scanning purposes
SECURITIES AND EXCHANGE COMMISSION
SEC FORM 17-Q
QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIESREGULATION CODE AND BRC RULES 17 (2) (b) THEREUNDER
4. Exact name of issuer as specified in its charter
5. Province, country or other jurisdiction of incorporation or organization
6. Industry Classification Code (For SEC Use Only)
7. Address of issuer's principal office Postal Code
8. Issuer's Telephone number, including area code
9. Former name, former address and former fiscal year, if changed since last report
10. Securities registered pursuant to Section 8 and 12 of the Code of Section 4 and 8of the RSA
Number of shares of Amount ofTitle of each class common stock outstanding Debt OutstandingCommon stock 2,607,437,907
11. Are any or all of the securities listed on a stock exchange?No. [ ]
If yes, state the name of such stock exchange and the class/es of securities listedtherein: Philippine Stock Exchange -Common Stock
12. Indicate by check mark whether the registrant:a. has filed all reports required to be filed by Section 17 of the Code and SRC Rule 17thereunder or Section 11 of the RSA and RSA 11 (a)-1 thereunder, and Section 26and 141 of the Corporations Code of the Philippines, during the preceding twelve (12)months or such shorter period the registrant was required to file such reports.
No. [ ]b. has been subject to such filing requirements for the last ninety (90) days
No. [ ]
1. For the quarter ended March 31, 2012.
2. Commission identification number 34001 3. BIR Tax Identification No. 000-708-174-000
BDO UNIBANK, INC.
Makati City, Philippines
BDO Corporate Center, 7899 Makati Avenue, Makati City
856-7434/840-7000 LOC 4575
NA
Yes [X]
Yes [X]
Yes [X]
SEC FORM 17-Q
I hereby certify that all the information set forth in the above report are true and correct
of my own knowledge.
LUCY CO DY (EVP Comptroller)Authorized Signatory
(PRINTED NAME & DESIGNATION)
REPUBLIC OF THE PHILIPPINES }CITY OF MAKATI } S.S.
Name CEI Date & Place Issued
Lucy Co Dy Passport - EB1933736 02.17.2011/ManilaCTC – 9866095
Notary Public
Doc. No. Page No. Book No.Series of
* To be signed by any of the following officers pursuant to a Board Resolution filed with the Commission1. Chief Operating Officer2. Chief Financial Officer3. Comptroller or Treasurer
SUBSCRIBED AND SWORN TO before me this ______________________ day of April,
2012, the above affiant exhibiting to me his/her described Competent Evidence of Identity (“CEI”):
02.29.2012/Mandaluyong City
SIGNATURES
Pursuant to the requirements of the Securities Regulation Code, the issuer has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Issuer........................................................................................................... BDO UNIBANK, INC.
Signature and Title................................................................................. LUCY CO DYEVP/COMPTROLLER
Date.......................................................................................................... April 26, 2012
Principal Financial /AccountingOfficer/Comptroller................................................................................ LUCY CO DY
Signature and Title................................................................................. EVP/COMPTROLLER
Date......................................................................................................... April 26, 2012
BDO UNIBANK, INC. & SUBSIDIARIES
CONDENSED STATEMENTS OF FINANCIAL POSITION(Amounts in Millions of Pesos)
Audited As of As of
March 31, 2012 December 31, 2011RESOURCES
CASH AND OTHER CASH ITEMS P 21,573 P 33,129DUE FROM BANGKO SENTRAL NG PILIPINAS 122,505 124,894DUE FROM OTHER BANKS 21,167 24,719INVESTMENT SECURITIES
At Fair Value Through Profit or Loss 6,529 4,823Available-for-Sale – net 111,979 89,925Held-to-Maturity – net 94,380 93,670
667,400 673,92715,681 15,690
INVESTMENT PROPERTIES 9,685 10,137EQUITY INVESTMENTS – net 4,146 4,187DEFERRED TAX ASSETS 5,414 5,485
15,654 16,763
TOTAL RESOURCES P 1,096,113 P 1,097,349
LIABILITIES AND CAPITAL FUNDS
DEPOSIT LIABILITIES P PDemand 44,061 48,499Savings 491,141 482,517Time 312,125 327,553 Total Deposit Liabilities 847,327 858,569
BILLS PAYABLE 64,978 59,474SUBORDINATED NOTES PAYABLE 38,427 38,255OTHER LIABILITIES 45,216 44,089
Total Liabilities 995,948 1,000,387
EQUITY
Attributable to Shareholders of the Parent Company 99,518 96,329Minority Interest 647 633 Total Equity 100,165 96,962
TOTAL LIABILITIES AND EQUITY P 1,096,113 P 1,097,349
CONTINGENT
Trust department accounts P 730,618 P 711,411Unused commercial letters of credit 34,450 33,391Outstanding guarantees issued 1,321 1,220Export L/Cs Confirmed 96 97Bills for collection 6,137 6,029Late deposits/payment received 1,887 2,208Spot Exchange Bought 10,219 7,828Spot Exchange Sold 6,199 4,457Forward Exchange Bought 193,312 151,892Forward Exchange Sold 216,480 188,610Interest Rate Swap Receivable 9,173 8,832Interest Rate Swap Payable 9,173 8,582Other Contingent Accounts 137,443 134,460
TOTAL CONTINGENT ACCOUNTS P 1,356,508 P 1,259,017
Note: This Financial Statement is in accordance with Philippine Financial Reporting Standards(PFRS)
BDO Corporate Center, 7899 Makati Avenue, Makati City
LOANS AND OTHER RECEIVABLES–netBANK PREMISES, FURNITURE, FIXTURES AND EQUIPMENT – net
OTHER RESOURCES - net
BDO UNIBANK, INC. & SUBSIDIARIES
CONDENSED STATEMENTS OF INCOME (Amounts in Millions of Pesos Except Per Share Data)
For the three-month For the three-monthPeriod ended Period ended
March 31, 2012 March 31, 2011
INTEREST INCOME ONLoans and Receivables P 10,051 P 8,783Investment Securities 2,627 2,701Due from Other Banks 246 645Others 69 167
Total Interest Income 12,993 12,296
INTEREST EXPENSE ONDeposit liabilities 3,441 2,976Bills Payable and Others 1,153 834
Total Interest Expense 4,594 3,810
NET INTEREST INCOME 8,399 8,486
IMPAIRMENT LOSSES 1,297 2,068
NET INTEREST INCOME AFTER IMPAIRMENT LOSSES 7,102 6,418
OTHER OPERATING INCOMEService Charges, Fees and Commissions 2,755 2,605Trading Gain – net 2,356 1,498Trust Fees 477 415Foreign Exchange Gain/(Loss) – net -285 201Miscellaneous – net 489 631
Total Other Operating Income 5,792 5,350
OTHER OPERATING EXPENSESEmployee Benefits 2,979 2,615Occupancy 1,100 1,048Taxes and licenses 1,067 903
508 456Insurance 450 411Advertising 541 580Litigation/Assets Acquired 182 177Miscellaneous 2,820 2,649
Total Other Operating Expenses 9,647 8,839
INCOME BEFORE TAX 3,247 2,929
TAX EXPENSE (INCOME) 423 469
NET INCOME AFTER TAX P 2,824 P 2,460
ATTRIBUTABLE TO:Equity holders of the parent P 2,810 P 2,444Minority Interest 14 16
P 2,824 P 2,460
AVERAGE COMMON STOCK 2,607 2,607
INCOME PER SHARE (See annex A)Basic 0.95 0.81Diluted 0.95 0.81
Note: This Financial Statement is in accordance with Philippine Financial Reporting Standards(PFRS)
BDO Corporate Center, 7899 Makati Avenue, Makati City
Security, Clerical, Messengerial and Janitorial
BDO UNIBANK, INC. & SUBSIDIARIES
STATEMENTS OF COMPREHENSIVE INCOME(Amounts in Millions of Pesos)
NET PROFIT 2,824 2,460
OTHER COMPREHENSIVE INCOME(LOSS)
Net unrealized fair value gains(losses)on available-for-sale securities 726 (2,981)
Translation adjustment related to foreign operations (17) (8)
Other Comprehensive Income, net of tax 709 (2,989)
TOTAL COMPREHENSIVE INCOME(LOSS) 3,533 (529)
Attributable To:Shareholders of the Parent Bank 3,519 (475)Non-controlling Interest 14 (54)
3,533 (529)
Note: This Financial Statement is in accordance with Philippine Financial Reporting Standards(PFRS)
BDO Corporate Center, 7899 Makati Avenue, Makati City
For the three-month period ending March 31, 2012
For the three-month period ending March 31, 2011
BDO UNIBANK, INC. & SUBSIDIARIESCASH FLOW STATEMENTS
FOR THE PERIODS ENDED MARCH 31, 2012 AND 2011(Amounts in Millions of Pesos)
2012 2011
CASH FLOWS FROM OPERATING ACTIVITIESProfit before tax 3,247 2,929 Adjustments for:
Interest income (12,993) (12,296)Interest received 14,170 13,856 Interest expense 4,594 3,810 Interest paid (4,961) (4,216)Impairment losses 1,297 2,068 Depreciation and amortization 630 615 Fair value loss (gain) 688 305
Operating loss before changes in operatingresources and liabilities 6,672 7,071 Decrease (increase) in financial assets at fair value
through profit or loss (2,366) 1,238 Decrease (increase) in loans and other receivables 1,837 (18,746)Decrease (increase) in investment properties 377 298 Decrease (increase) in other resources 1,161 (217)Increase (decrease) in deposit liabilities (9,722) (35,147)Increase (decrease) in other liabilities 476 (599)
Cash generated from (used in) operations (1,565) (46,102)Cash paid for income tax (288) (281)
Net Cash From (Used in) Operating Activities (1,853) (46,383)
CASH FLOWS FROM INVESTING ACTIVITIESNet acquisitions of bank premises, furniture,
fixtures and equipment (522) (296)Net decrease (increase) in equity investment 41 93 Net decrease (increase) in held-to-maturity investments 744 5,067 Net decrease (increase) in available-for-sale financial assets (20,216) 5,933
Net Cash From (Used in) Investing Activities (19,953) 10,797
CASH FLOWS FROM FINANCING ACTIVITIESNet proceeds from (payments of) bills payable 5,039 (8,745)Dividends paid (330) (330)
Net Cash From (Used in) Financing Activities 4,709 (9,075)
NET INCREASE (DECREASE) IN CASHAND CASH EQUIVALENTS (17,097) (44,661)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEARCash and other cash items 33,129 26,673
124,894 138,482 Due from other banks 24,719 21,777
182,742 186,932
CASH AND CASH EQUIVALENTS AT END OF THE PERIODCash and other cash items 21,573 18,203
122,505 106,415 Due from other banks 21,167 17,653 Interbank Call Loans 400 0
165,645 142,271
Due from Bangko Sentral ng Pilipinas
Due from Bangko Sentral ng Pilipinas
BDO UNIBANK, INC. & SUBSIDIARIES
STATEMENT OF CHANGES IN EQUITYCOMPARATIVE PERIODS ENDED MARCH 31, 2012 AND 2011
(Amounts in Millions of Pesos)
Surplus Free Total Equity
Balance at January, 2012 P26,074 P5,000 P- P- P25,175 P1,696 P33,271 P4,360 P1,118 (P365) P96,329 P633 P96,962
Transactions with ownersCash Dividends (330) (330) (330)
Total transactions with owners 0 0 0 0 0 0 (330) 0 0 0 (330) 0 (330)
Total comprehensive income 2,810 726 (17) 3,519 14 3,533
Transfer to/(from) Surplus FreeAdditional appropriation 24 (24) 0 0
0 0 0 0 0 24 (24) 0 0 0 0 0 0
Balance at March 31, 2012 P26,074 P5,000 P- P- P25,175 P1,720 P35,727 P5,086 P1,118 (P382) P99,518 P647 P100,165
Balance at January, 2011 P26,074 P5,000 P- P- P25,175 P1,550 P25,737 P3,664 P1,165 (P356) P88,009 P723 P88,732
Transactions with ownersCash Dividends (330) (330) (330)Audit Adjustments 47 47 47
Total transactions with owners 0 0 0 0 0 0 (283) 0 0 0 (283) 0 (283)
Total comprehensive income 2,444 (2,911) (8) (475) (54) (529)
Transfer to/(from) Surplus FreeAdditional appropriation (10) 10 0 0 Revaluation increment on land and building sold 68 (47) 21 21
0 0 0 0 0 (10) 78 0 (47) 0 21 0 21
Balance at March 31, 2011 P26,074 P5,000 P- P- P25,175 P1,540 P27,976 P753 P1,118 (P364) P87,272 P669 P87,941
BDO Corporate Center, 7899 Makati Avenue, Makati City
Common Stock
Preferred Stock
Common Stock
Options
Treasury Shares at Cost
Additional Paid-in Capital
Surplus Reserves
Net Unrealized Fair Value
Gain(Losses) on Available-for-
sale Securities
Revaluation Increment
Accumulated Translation Adjustment
Total Atributable to Shareholders of the Parent
Bank
Non-Controlling
Interest
BDO UNIBANK, INC. & SUBSIDIARIES
AGING OF LOANS AND ACCOUNTS RECEIVABLEAs of March 31, 2012
(Amounts in Millions of Pesos)
TYPE OF ACCOUNTS CURRENT 61 – 180 DAYS 181 - 360 DAYS OVER 360 DAYS TOTAL
A. INTERBANK TERM LOANS RECEIVABLES P 8,096 P 0 P 0 P 0 P 0 P 8,096
B. LOANS AND RECEIVABLES P 658,358 P 4,609 P 6,094 P 14,879 P 3,599 P 687,539
Loans & Discounts 554,230 2,855 4,863 5,350 2,908 570,20621,771 4 0 0 0 21,775
Bills Purchases 11,528 0 0 25 2 11,555Customers Liability on draft under LC/TR 30,240 51 231 1,642 272 32,436Customers Liability for this bank's acceptances 1,996 0 0 0 0 1,996Credit Card Receivables 24,045 1,325 907 3,559 166 30,002Restructured Loans 45 75 54 3,061 222 3,457Other Loan & Receivables 4,860 299 39 1,072 29 6,299Reverse Repurchase Agreement 3,621 0 0 0 0 3,621Unquoted Debt Securities Classified as Loans 6,022 0 0 170 0 6,192
C. ACCOUNTS RECEIVABLE P 2,477 P 461 P 218 P 2,913 P 4 P 6,073 TOTAL P 668,931 P 5,070 P 6,312 P 17,792 P 3,603 P 701,708
BDO Corporate Center, 7899 Makati Avenue, Makati City
ITEMS IN LITIGATION
Agra-Agri Loans
Annex A
BDO UNIBANK, INC. & SUBSIDIARIES
COMPUTATION OF WEIGHTED NUMBER OF COMMON SHARES(Amounts in Millions of Pesos Except Per Share Data)
2012 2011NO. OF SHARES – COMMON Outstanding Balance Average Number of Outstanding Balance Average Number ofAs of March of Common Shares Common Shares of Common Shares Common Shares
January 2,607 2,607February 2,607 2,607March 2,607 2,607 2,607 2,607
Weighted Average 2,607 2,607
Basic Earnings per share
Net profit attributable to shareholders of the Parent Bank 2,810 2,444Less: Dividends on preferred shares 330 330Net profit available to common shares 2,480 2,114Divided by the weighted average number ofoutstanding common shares 2,607 2,607
Basic Earnings per share 0.95 0.81
Diluted Earnings Per ShareNet profit attributable to shareholders of the Parent Bank 2,480 2,114Divided by the weighted average number ofoutstanding common shares: Weighted Average number of common shares 2,607 2,607 Potential common shares from assumed conversion of preferred shares 0 0 Potential common shares from assumed conversion of stock option plan 0 0 Total weighted average number of common shares after assumed conversion of convertible preferred shares 2,607 2,607
Diluted Earnings Per Share 0.95 0.81
Note:
7899, BDO Corporate Center, Makati Avenue, Makati City
*Net profit attributable to shareholders of the Parent Bank is reduced by dividends on prferred shares as these were not assumed to be coverted. Potential common shares from assumed conversion of these prferred shares are anti-dilutive in 2012 and 2011.
Balances by SegmentAs of March 31, 2012(Amounts in Millions of Pesos)
Commercial Banking Investment Banking Private Banking Others Total Eliminations Group
Statement of IncomeTotal Interest Income
External 12,410 20 251 312 12,993 0 12,993 Inter-Segment 29 1 1 4 35 (35) 0
12,439 21 252 316 13,028 (35) 12,993
Total Interest ExpenseExternal 4,422 0 84 88 4,594 0 4,594 Inter-Segment 5 10 0 19 34 (34) 0
4,427 10 84 107 4,628 (34) 4,594
Net Interest Income 8,012 11 168 209 8,400 (1) 8,399
Other Operating IncomeInvestment Banking Fees 0 128 0 0 128 0 128 Others 5,107 28 137 514 5,786 (122) 5,664
5,107 156 137 514 5,914 (122) 5,792
Other Operating ExpensesDepreciation and Amortization 566 1 7 56 630 0 630 Impairment Losses 1,272 0 0 25 1,297 0 1,297 Others 8,497 74 169 300 9,040 (23) 9,017
10,335 75 176 381 10,967 (23) 10,944
Profit before Tax 2,784 92 129 342 3,347 (100) 3,247 Tax Expense 314 25 19 65 423 0 423 Net Profit 2,470 67 110 277 2,924 (100) 2,824
Statements of Financial PositionTotal Resources
Segment Assets 1,054,124 2,806 22,879 26,526 1,106,335 (16,101) 1,090,234 Intangible Assets 454 9 1 1 465 0 465 Deferred Tax Assets 5,567 (41) 4 (116) 5,414 0 5,414
1,060,145 2,774 22,884 26,411 1,112,214 (16,101) 1,096,113 Total Liabilities 966,209 1,055 17,722 15,352 1,000,338 (4,390) 995,948
Other Segment InformationCapital expenditures 456 3 17 69 545 0 545 Investment in associate under
equity method 4,636 68 0 0 4,704 0 4,704 Share in the Profit of associates 58 0 0 0 58 0 58
BDO Unibank, Inc. & Subsidiaries
Balances by SegmentAs of March 31, 2011(Amounts in Millions of Pesos)
Commercial Banking Investment Banking Private Banking Others Total Eliminations Group
Statement of IncomeTotal Interest Income
External 11,630 4 286 376 12,296 0 12,296 Inter-Segment 2 2 0 4 8 (8) 0
11,632 6 286 380 12,304 (8) 12,296
Total Interest ExpenseExternal 3,626 0 108 76 3,810 0 3,810 Inter-Segment 5 0 1 2 8 (8) 0
3,631 0 109 78 3,818 (8) 3,810
Net Interest Income 8,001 6 177 302 8,486 0 8,486
Other Operating IncomeInvestment Banking Fees 0 186 0 0 186 0 186 Others 4,721 75 159 363 5,318 (154) 5,164
4,721 261 159 363 5,504 (154) 5,350
Other Operating ExpensesDepreciation and Amortization 503 1 4 107 615 0 615 Impairment Losses 2,014 0 12 42 2,068 2,068 Others 7,735 66 151 287 8,239 (15) 8,224
10,252 67 167 436 10,922 (15) 10,907
Profit before Tax 2,470 200 169 229 3,068 (139) 2,929 Tax Expense 369 47 12 41 469 0 469 Net Profit 2,101 153 157 188 2,599 (139) 2,460
Statements of Financial PositionTotal Resources
Segment Assets 917,574 1,736 22,902 23,636 965,848 (16,785) 949,063 Intangible Assets 698 10 0 1 709 0 709 Deferred Tax Assets 5,689 (26) 28 (94) 5,597 0 5,597
923,961 1,720 22,930 23,543 972,154 (16,785) 955,369 Total Liabilities 840,630 408 18,326 17,133 876,497 (9,069) 867,428
Other Segment InformationCapital expenditures 420 0 4 66 490 0 490 Investment in associate under
equity method 3,764 68 0 0 3,832 0 3,832 Share in the Profit of associates 43 0 0 0 43 0 43
BDO Unibank, Inc. & Subsidiaries