Bdo FS PDF
Bdo FS PDF
Bdo FS PDF
August 10, 2012 PHILIPPINE STOCK EXCHANGE, INC. 3rd Floor, Philippine Stock Exchange Plaza Ayala Triangle, Ayala Avenue Makati City Attention: Ms. Janet A. Encarnacion Head Ms. Christina Marie C. Fortes Analyst Disclosure Department Re: Quarterly Report as of June 30, 2012 ===========================
Ladies: We transmit with this letter the quarterly report (SEC Form 17-Q) of BDO Unibank, Inc. for the period ended June 30, 2012. Thank you.
COVER SHEET
3 4 0 0 S.E.C. Registration Number B D O U N I B A N K , I N C . 1
B M
D A
O K A
C T
O I
8 I
9 T
9 Y
Annual Meeting Secondary License type, if applicable C F D Dept. Requiring this Doc. 13,386 Total No.of Stockholders
File Number
LCU
Document I.D.
Cashier
Stamps
SECURITIES AND EXCHANGE COMMISSION SEC FORM 17-Q QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIES REGULATION CODE AND BRC RULES 17 (2) (b) THEREUNDER
1. For the quarter ended June 30, 2012. 2. Commission identification number 34001 BDO UNIBANK, INC. 4. Exact name of issuer as specified in its charter Makati City, Philippines 5. Province, country or other jurisdiction of incorporation or organization 6. Industry Classification Code (For SEC Use Only) 3. BIR Tax Identification No. 000-708-174-000
BDO Corporate Center, 7899 Makati Avenue, Makati City 7. Address of issuer's principal office 856-7434/840-7000 LOC 4575 8. Issuer's Telephone number, including area code NA
Postal 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 8 of the RSA Number of shares of Amount of Title of each class common stock outstanding Debt Outstanding Common stock 2,685,656,496 11. Are any or all of the securities listed on a stock exchange? Yes [X] No. [ ] If yes, state the name of such stock exchange and the class/es of securities listed therein: 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 17 thereunder or Section 11 of the RSA and RSA 11 (a)-1 thereunder, and Section 26 and 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. Yes [X] No. [ ] b. has been subject to such filing requirements for the last ninety (90) days Yes [X] No. [ ]
BDO UNIBANK, INC. & SUBSIDIARIES BDO Corporate Center, 7899 Makati Avenue, Makati City CONDENSED STATEMENTS OF FINANCIAL POSITION (Amounts in Millions of Pesos) Audited As of December 31, 2011
As of June 30, 2012 RESOURCES CASH AND OTHER CASH ITEMS DUE FROM BANGKO SENTRAL NG PILIPINAS DUE FROM OTHER BANKS INVESTMENT SECURITIES At Fair Value Through Profit or Loss Available-for-Sale net Held-to-Maturity net LOANS AND OTHER RECEIVABLESnet BANK PREMISES, FURNITURE, FIXTURES AND EQUIPMENT net INVESTMENT PROPERTIES EQUITY INVESTMENTS net DEFERRED TAX ASSETS OTHER RESOURCES - net TOTAL RESOURCES LIABILITIES AND CAPITAL FUNDS DEPOSIT LIABILITIES Demand Savings Time Total Deposit Liabilities BILLS PAYABLE SUBORDINATED NOTES PAYABLE OTHER LIABILITIES Total Liabilities EQUITY Attributable to Shareholders of the Parent Company Minority Interest Total Equity TOTAL LIABILITIES AND EQUITY P 102,749 644 103,393 1,171,677 P P 46,919 499,483 322,087 868,489 66,045 38,255 95,495 1,068,284 P P 14,603 144,422 17,657 9,493 117,497 94,401 724,002 15,576 9,056 4,282 5,393 15,295 P 1,171,677 P P
33,129 124,894 24,719 4,823 89,925 93,670 673,927 15,690 10,137 4,187 5,485 16,763 1,097,349
CONTINGENT Trust department accounts Unused commercial letters of credit Outstanding guarantees issued Export L/Cs Confirmed Bills for collection Late deposits/payment received Spot Exchange Bought Spot Exchange Sold Forward Exchange Bought Forward Exchange Sold Interest Rate Swap Receivable Interest Rate Swap Payable Other Contingent Accounts TOTAL CONTINGENT ACCOUNTS P 740,179 32,028 746 185 6,510 2,177 10,542 10,121 215,829 230,810 9,614 9,614 138,847 1,407,202 P 711,411 33,391 1,220 97 6,029 2,208 7,828 4,457 151,892 188,610 8,832 8,582 134,460 1,259,017
Note: This Financial Statement is in accordance with Philippine Financial Reporting Standards(PFRS)
BDO UNIBANK, INC. & SUBSIDIARIES BDO Corporate Center, 7899 Makati Avenue, Makati City CONDENSED STATEMENTS OF INCOME (Amounts in Millions of Pesos Except Per Share Data) For the six-month Period ended June 30, 2012 INTEREST INCOME ON Loans and Receivables Investment Securities Due from Other Banks Others Total Interest Income INTEREST EXPENSE ON Deposit liabilities Bills Payable and Others Total Interest Expense NET INTEREST INCOME IMPAIRMENT LOSSES NET INTEREST INCOME AFTER IMPAIRMENT LOSSES OTHER OPERATING INCOME Service Charges, Fees and Commissions Trading Gain net Trust Fees Foreign Exchange Gain/(Loss) net Miscellaneous net Total Other Operating Income OTHER OPERATING EXPENSES Employee Benefits Occupancy Taxes and licenses Security, Clerical, Messengerial and Janitorial Insurance Advertising Litigation/Assets Acquired Miscellaneous Total Other Operating Expenses INCOME BEFORE TAX TAX EXPENSE (INCOME) NET INCOME AFTER TAX ATTRIBUTABLE TO: Equity holders of the parent Minority Interest P For the six-month Period ended June 30, 2011 For the Quarter ending June 30, 2012 For the Quarter ending June 30, 2011
7,109 2,191 2,055 1,021 903 1,135 375 4,595 19,384 6,642 812 5,830 P
6,482 2,111 1,795 934 826 1,104 349 4,397 17,998 5,929 877 5,052 P
4,130 1,091 988 513 453 594 193 1,775 9,737 3,395 389 3,006 P
3,867 1,063 892 478 415 524 172 1,748 9,159 3,000 408 2,592
5,800 30 5,830
5,025 27 5,052
2,990 16 3,006
2,581 11 2,592
AVERAGE COMMON STOCK INCOME PER SHARE (See annex A) Basic Diluted
2,686
2,607
2,686
2,607
2.04 2.04
1.80 1.80
1.11 1.10
0.99 0.97
Note: This Financial Statement is in accordance with Philippine Financial Reporting Standards(PFRS)
BDO UNIBANK, INC. & SUBSIDIARIES BDO Corporate Center, 7899 Makati Avenue, Makati City STATEMENTS OF COMPREHENSIVE INCOME (Amounts in Millions of Pesos) For the six-month period ending June 30, 2012 NET PROFIT OTHER COMPREHENSIVE INCOME(LOSS) Net unrealized fair value gains(losses) on available-for-sale securities Translation adjustment related to foreign operations Other Comprehensive Income, net of tax TOTAL COMPREHENSIVE INCOME(LOSS) 5,830 For the six-month period ending June 30, 2011 5,052
6,753 24 6,777
Note: This Financial Statement is in accordance with Philippine Financial Reporting Standards(PFRS)
BDO UNIBANK, INC. & SUBSIDIARIES CASH FLOW STATEMENTS FOR THE PERIODS ENDED JUNE 30, 2012 AND 2011 (Amounts in Millions of Pesos) 2012 CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax Adjustments for: Interest income Interest received Interest expense Interest paid Impairment losses Depreciation and amortization Fair value loss (gain) Operating loss before changes in operating resources and liabilities Decrease (increase) in financial assets at fair value through profit or loss Decrease (increase) in loans and other receivables Decrease (increase) in investment properties Decrease (increase) in other resources Increase (decrease) in deposit liabilities Increase (decrease) in other liabilities Cash generated from (used in) operations Cash paid for income tax Net Cash From (Used in) Operating Activities CASH FLOWS FROM INVESTING ACTIVITIES Net acquisitions of bank premises, furniture, fixtures and equipment Net decrease (increase) in equity investment Net decrease (increase) in held-to-maturity investments Net decrease (increase) in available-for-sale financial assets Net Cash From (Used in) Investing Activities CASH FLOWS FROM FINANCING ACTIVITIES Net proceeds from (payments of) bills payable Dividends paid Net Cash From (Used in) Financing Activities NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR Cash and other cash items Due from Bangko Sentral ng Pilipinas Due from other banks 2011
6,642 (26,481) 25,985 9,119 (8,991) 2,522 1,255 (372) 9,679 (4,281) (52,342) 909 1,292 9,971 51,217 16,445 (624) 15,821
5,929 (24,727) 25,521 7,671 (7,978) 3,545 1,242 (324) 10,879 1,235 (63,548) 287 (1,090) 20,161 12,662 (19,414) (701) (20,115)
(6,060)
(21,492)
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD Cash and other cash items Due from Bangko Sentral ng Pilipinas Due from other banks
BDO UNIBANK, INC. & SUBSIDIARIES BDO Corporate Center, 7899 Makati Avenue, Makati City STATEMENT OF CHANGES IN EQUITY COMPARATIVE PERIODS ENDED JUNE 30, 2012 AND 2011 (Amounts in Millions of Pesos) Net Unrealized Fair Value Gain(Losses) on Available-forsale Securities 4,360 P Total Accumulated Atributable to NonTranslation Shareholders Controlling Total Equity Adjustment of the Parent Interest Bank 365) P 96,329 P 633 P 96,962
Common Stock
Preferred Stock
Surplus Reserves
Surplus Free
Revaluation Increment
Balance at January, 2012 Transactions with owners Issuance of additional shares Premium on issuance of new shares, net of listing fees Stock dividend declaration for common & preferred stocks Cash Dividends Audit Adjustments Total transactions with owners Total comprehensive income Transfer to/(from) Surplus Free Additional appropriation Reversal of Unrealized Gain
26,074 P
5,000 P
- P
- P
25,175 P
1,696 P
33,271 P
1,118 (P
782
782
150
4,592
0 1,000
0 (47)
(14) 1 (13) 24
0 1,118 (P
0 412) P
0 0 0 102,749 P
0 644 P
0 0 0 103,393
26,856 P
Balance at January, 2011 Transactions with owners Cash Dividends Audit Adjustments Total transactions with owners Total comprehensive income Transfer to/(from) Surplus Free Additional appropriation Revaluation increment on land and building sold
26,074 P
5,000 P
- P
- P
25,175 P
1,550 P
25,737 P
3,664 P
1,165 (P
356) P
88,009 P
723 P
88,732
0 (1,219)
0 (10)
(29) 69 40 27,913 P
0 2,445 P
0 366) P
0 22 22 88,938 P
0 683 P
0 22 22 89,621
26,074 P
BDO UNIBANK, INC. & SUBSIDIARIES BDO Corporate Center, 7899 Makati Avenue, Makati City AGING OF LOANS AND ACCOUNTS RECEIVABLE As of June 30, 2012 (Amounts in Millions of Pesos)
TYPE OF ACCOUNTS A. INTERBANK TERM LOANS RECEIVABLES B. LOANS AND RECEIVABLES Loans & Discounts Agra-Agri Loans Bills Purchases Customers Liability on draft under LC/TR Customers Liability for this bank's acceptances Credit Card Receivables Restructured Loans Other Loan & Receivables Reverse Repurchase Agreement Unquoted Debt Securities Classified as Loans C. ACCOUNTS RECEIVABLE TOTAL P P P P
CURRENT 17,217 P 707,287 P 599,913 24,233 14,417 29,041 1,464 24,623 41 6,008 3,301 4,246 2,638 P 727,142 P
OVER 360 DAYS 0 P 14,658 P 4,942 0 25 1,633 0 3,886 3,054 948 0 170 2,302 P 16,960 P
TOTAL 17,217 735,881 615,274 24,249 14,444 31,020 1,464 31,041 3,343 7,329 3,301 4,416 6,446 759,544
Annex A BDO UNIBANK, INC. & SUBSIDIARIES 7899, BDO Corporate Center, Makati Avenue, Makati City COMPUTATION OF WEIGHTED NUMBER OF COMMON SHARES (Amounts in Millions of Pesos Except Per Share Data) 2012 Outstanding Balance Average Number of of Common Shares Common Shares 2,686 2,686 2,686 2,686 2,686 2,686 2011 Outstanding Balance Average Number of of Common Shares Common Shares 2,607 2,607 2,607 2,607 2,607 2,607
NO. OF SHARES COMMON As of June January February March April May June Weighted Average Basic Earnings per share Net profit attributable to shareholders of the Parent Bank Less: Dividends on preferred shares Net profit available to common shares Divided by the weighted average number of outstanding common shares Basic Earnings per share Diluted Earnings Per Share Net profit attributable to shareholders of the Parent Bank Divided by the weighted average number of outstanding common shares: Weighted Average number of common shares Potential common shares from assumed conversion of preferred shares Potential common shares from assumed conversion of stock option plan Total weighted average number of common shares after assumed conversion of convertible preferred shares Diluted Earnings Per Share Note:
2,686 2,686
2,607 2,607
5,470
4,695
*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.
BDO Unibank, Inc. & Subsidiaries Balances by Segment As of June 30, 2012 (Amounts in Millions of Pesos) Commercial Banking Investment Banking Statement of Income Total Interest Income External Inter-Segment Private Banking Others Total Eliminations Group
25,291 59 25,350
41 3 44
511 1 512
638 8 646
26,481 71 26,552
0 (71) (71)
26,481 0 26,481
0 21 21 23
Net Interest Income Other Operating Income Investment Banking Fees Others
0 9,570 9,570
479 70 549
0 279 279
0 1,037 1,037
0 (249) (249)
Profit before Tax Tax Expense Net Profit Statements of Financial Position Total Resources Segment Assets Intangible Assets Deferred Tax Assets Total Liabilities Other Segment Information Capital expenditures Investment in associate under equity method Share in the Profit of associates
3 18 18
39 0 0
155 0 0
0 0 0
BDO Unibank, Inc. & Subsidiaries Balances by Segment As of June 30, 2011 (Amounts in Millions of Pesos) Commercial Banking Investment Banking Statement of Income Total Interest Income External Inter-Segment Private Banking Others Total Eliminations Group
23,490 36 23,526
18 5 23
492 45 537
727 8 735
24,727 94 24,821
0 (94) (94)
24,727 0 24,727
0 8 8 15
Net Interest Income Other Operating Income Investment Banking Fees Others
0 8,917 8,917
0 371 371
0 791 791
0 (129) (129)
Profit before Tax Tax Expense Net Profit Statements of Financial Position Total Resources Segment Assets Intangible Assets Deferred Tax Assets Total Liabilities Other Segment Information Capital expenditures Investment in associate under equity method Share in the Profit of associates
0 0 0
6 0 0
204 0 0
0 0 0