HORIZONTAL ANALYSIS

ASSETS 2014 (in Millions) 2015 (in Millions)

Cash and Other Cash Items 34,943 32,536

Due from Banko Sentral ng Pilipinas 215,253 214,704
Due from Other Banks 38,200 36,864
Interbank Loans Recievable and Securities
Purchased Under Resale Agreements 119,839 36,118

Financial Assets at Fair Value Through Profit or Loss

45,935 48,856
Available-for-Sale Investments 207,711 235,158
Held-to-Maturity Investments 129,076 208,432
Loans and Recievables 759,481 887,202
Investments in Subsidiaries 0 0
Investments In Associates and a Joint Venture
2,589 5,272

Property and Equiptment

16,231 21,670

Investment Properties 10,037 8,195

Non-Current Assets Held For Sale 0
Deffered Tax Assets 6,831 8,427
Goodwill 5,201 5,202
Other Assets 13,213 12,056
TOTAL ASSETS 1,604,540 1,760,692

EQUITY AND LIABILITIES

LIABILITIES
Deposit Liabilities

Demand 106,229 77589

Savings 305,034 283011
Time 327,431 320393
738,694 680993
Bills Payable And Securities Sold Under
Repurchase Agreements 97,108 99,657
Derivatives Liabilities 6,692 2819
Managers Checks And Demands Drafts
Outstanding 3,489 2610
Income Taxes Payable 1,326 597
Accurued Interest and Other Expenses
8,342 7200
Bonds Payable 11,834 4875
Subordinated Debts 14,243 19735
Deferred Tax Liabilities 244 157
Other Liabilities
31,588 23237

Total Liabilities 913,560 841880

EQUITY
Equity Attributed to Equity Holders Of the Parent
Company
Common Stock 42,228 42228
Hybrid Capital Securities 6,351 6351
Capital pain in excess of par value 19,312 19312
Suplus reserves 1,108 1,002
Surplus 48,692 35,986
Net unrealized gain available-for-sale investments
2,438 4458

Equity in net unrealized gain on available-for-sale

investments of associates 758 435

Translation adjustment and others (869) 26

120,018 109,798
Non-controlling interest 7,002 6706
TOTAL EQUITY 127,020 116,504
TOTAL EQUITY AND LIABILITIES 1,040,580 958384
YSIS

Increase (Decrease)
Amount %
2,407 7.40
549 0.26
1,336 3.62

83,721 231.80

-2,921 -5.98
-27,447 -11.67
-79,356 -38.07
-127,721 -14.40
0 0.00

-2,683 -50.89

-5,439 -25.10

1,842 22.48 1,579,295 1,735,007

0 0.00
-1,596 -18.94
-1 -0.02
1,157 9.60
-156,152 -8.87

28,640 36.91
22,023 7.78
7,038 2.20
57,701 8.47
-2,549 -2.56

3,873 137.39

879 33.68
 729 122.11
1,142 15.86
6,959 142.75
-5,492 -27.83
87 55.41

8,351 35.94

71,680 8.51 881,728 818,486

0 0.00
0 0.00
0 0.00
106 10.58
12,706 35.31

-2,020 -45.31

323 74.25

-895 -3442.31
10,220 9.31
296 4.41
10,516 9.03
82,196 8.58
 VERTICAL ANALYSIS

ASSETS 2012
(in Millions)
Cash and Other Cash Items 24,382
Due from Banko Sentral ng Pilipinas
131,278
Due from Other Banks 22,557
Interbank Loans Recievable and Securities
Purchased Under Resale Agreements 23,392

Financial Assets at Fair Value Through Profit or

66,721
Loss
Available-for-Sale Investments 122,958
Held-to-Maturity Investments 51,451
Loans and Recievables 525,703
Investments in Subsidiaries 0
Investments In Associates and a Joint Venture
16,705
Property and Equiptment 15,345
Investment Properties 15,422
Non-Current Assets Held For Sale 1,102
Deffered Tax Assets 6,409
Goodwill 6,409
Other Assets 9,279
TOTAL ASSETS 1,039,113

EQUITY AND LIABILITIES

LIABILITIES
Deposit Liabilities
Demand 106,229
Savings 305,034
Time 327,431
738,694
Bills Payable And Securities Sold Under
Repurchase Agreements 97,108

Derivatives Liabilities 6,692

Managers Checks And Demands Drafts
Outstanding 3,489
Income Taxes Payable 1,326
Accurued Interest and Other Expenses
8,342
Bonds Payable 11,834
Subordinated Debts 14,243
Deferred Tax Liabilities 244
Other Liabilities 31,588
Total Liabilities 913,560
EQUITY
Equity Attributed to Equity Holders Of the
Parent Company
Common Stock 42,228
Hybrid Capital Securities 6,351
Capital pain in excess of par value 19,312
Suplus reserves 1,108
Surplus 48,692
Net unrealized gain available-for-sale
2,438
investments
Equity in net unrealized gain on available-for-
sale investments of associates 758

Translation adjustment and others (869)

120,018
Non-controlling interest 7,002
TOTAL EQUITY 127,020
TOTAL EQUITY AND LIABILITIES
1,040,580
AL ANALYSIS

2012 2011
% (in Millions) %
2.35 20,954 2.189

12.63 156,537 16.354

2.17 32,095 3.353

2.25 24367 2.546

6.42 6188 0.646

11.83 143057 14.945

4.95 47,457 4.958
50.59 457,422 47.788
0.00 0 0.000

1.61 17641 1.843

1.48 13937 1.456

1.48 15471 1.616
0.11 0 0.000
0.62 6413 0.670
0.62 6413 0.670
0.89 9248 0.966
100.00 957,200 100.000

77589
283011
320393
70.99 680993 71.056

9.33 99,657 10.398

0.64 2819 0.294

0.34 2610 0.272

0.13 597 0.062

0.80 7200 0.751

1.14 4875 0.509

1.37 19735 2.059
0.02 157 0.016
3.04 23237 2.425
87.79 841880 87.844

4.06 42228 4.406

0.61 6351 0.663
1.86 19312 2.015
0.11 1,002 0.105
4.68 35,986 3.755

0.23 4458 0.465

0.07 435 0.045

-0.08 26 0.003
11.53 109,798 11.457
0.67 6706 0.700
12.21 116,504 12.156

100.00 958384 100.000

 2012 2011

INTEREST INCOME ON 32,704.00 29,022.00

Loans and recievables 10,458.00 9,883.00
Trading and investment securities purchased under
resale agreements 551.00 458.00
Deposite with banks and others 1,266.00 5,674.00
44,979.00 45,037.00
INTEREST AND FINANCE CHARGES
Deposites liabilities 8,756.00 10,234.00
Bills payable and securities sold under repurchase
agreements, bonds payable, subordinated debt
and others 5,417.00 5,396.00
14,173.00 15,630.00
NET INTEREST INCOME 30,806.00 29,407.00
Service charges, fees and commissions 8,228.00 7,711.00
Trading and securities gain- net 5,485.00 6,118.00
Foreign exchange gain-net 3,636.00 1,623.00

Gain on sales of non-current assets held for sales 3,403.00 0.00

Leasing 1,380.00 1,017.00
Profit from assets sold 1,119.00 897.00
Income from trust operations and 853.00 695.00
Dividends 88.00 96.00
Miscellaneous 870.00 1,416.00
TOTAL OPERATING INCOME 55,868.00 48,908.00
Compensation and fringe benefits 14,405.00 13,310.00
Taxes and licenses 5,260.00 4,601.00
Provission for credit and impairment losses 4,478.00 3,823.00
Depreciation and amortization and 2,188.00 2,104.00
Occupancy and equipment-related cost 2,107.00 1,959.00
Amortization of software cost 236.00 230.00
Miscellaneous 9,154.00 8,476.00
TOTAL OPERATING EXPENSE 37,828.00 34,503.00
INCOME BEFORE SHARE IN NET INCOME OS
ASSOCIATES AND A JOINT VENTURE 18,040.00 14,477.00
SHARE IN NET INCOME OF ASSOCIATES AND A
JOINT VENTURE 2,833.00 1,437.00
INCOME BEFORE INCOME TAX 20,873.00 15,914.00
PROVISION FOR INCOME TAX 3,826.00 3,524.00
NET INCOME 17,047.00 12,390.00
aAttributes to:
Equity holders of the Parent Company 15,399.00 11,031.00
Non-controlling Interest 1,648.00 1,359.00
17,047.00 12,390.00
Basic/Dilited Earnings Per Share Attributable to
Equity Holders of the Parent Company 7.02 5.02
2012 2011
% %
0.73 0.64
0.23 0.22

0.01 0.01
0.03 0.13
1.00 1.00

0.19 0.23

0.12 0.12
0.32 0.35
0.68 0.65
0.18 0.17
0.12 0.14
0.08 0.04

0.08 0.00
0.03 0.02
0.02 0.02
0.02 0.02
0.00 0.00
0.02 0.03
1.24 1.09
0.32 0.30
0.12 0.10
0.10 0.08
0.05 0.05
0.05 0.04
0.01 0.01
0.20 0.19
0.84 0.77

0.40 0.32

0.06 0.03
0.46 0.35
0.09 0.08
0.38 0.28

0.34 0.24
0.04 0.03
0.38 0.28
0.0002 0.0001
 ratio analysis

2012 2011 ratio comment

CURRENT RATIO