Financial Highlights
Statement of Income
For the years ended December 31, 2008 and 2007
(Amounts in Philippine Pesos)
| Notes | 2008 | 2007 | |
|---|---|---|---|
| Interest Income On | |||
| Available-for-sale securities | 6 | P 548,017,461 | P 427,441,773 |
| Held-to-maturity investments | 7 | 437,303,914 | 365,911,194 |
| Financial assets at fair value through profit or loss | 5 | 311,197,599 | 315,892,135 |
| Loans and other receivables | 8 | 153,264,797 | 125,144,589 |
| Due from other banks | 4 | 113,211,277 | 160,008,349 |
| 1,562,995,048 | 1,394,398,040 | ||
| Interest Expense On | |||
| Deposit liabilities | 11 | 755,149,629 | 559,045,499 |
| Bills payable | 12 | 363,979,483 | 390,741,102 |
| 1,119,129,112 | 949,786,601 | ||
| Net Interest Income | 443,865,936 | 444,611,439 | |
| IMPAIRMENT LOSS | 6 | 83,500,000 | - |
| NET INTEREST INCOME AFTER IMPAIRMENT LOSS | 360,365,936 | 444,611,439 | |
| Other Income | |||
| Foreign exchange gain - net | 5,13 | 169,781,137 | 94,897,733 |
| Service charges, fees and commissions | 20 | 84,516,166 | 44,566,896 |
| Trading and securities gain - net | 5,7,13 | 9,075,093 | 227,834,671 |
| Others | 6 | 1,214,687 | 98,958,623 |
| 264,587,083 | 466,257,923 | ||
| Other Expenses | |||
| Employee benefits | 18 | 140,939,180 | 105,425,573 |
| Taxes and Licenses | 113,329,699 | 110,362,498 | |
| Occupancy | 21 | 27,555,876 | 20,215,105 |
| Insurance | 26,956,814 | 19,832,164 | |
| Travel | 24,253,833 | 18,144,764 | |
| Depreciation and amortization | 9,10 | 18,905,722 | 17,995,173 |
| Representation and entertainment | 16,610,617 | 15,297,107 | |
| Management and professional fees | 15,776,320 | 7,234,845 | |
| Third party information | 16 | 12,366,132 | 12,324,147 |
| Others | 17 | 54,595,531 | 43,637,152 |
| 451,289,724 | 370,468,528 | ||
| Income Before Tax | 173,663,295 | 540,400,834 | |
| Tax Expense | 19 | 71,804,924 | 81,291,267 |
| Net Income | P 101,858,371 | P 459,109,567 |