results of operations - Aboitiz

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RESULTS OF OPERATIONS City Savings will continue its expansion in the Visayas-Mindanao area and plans to eventually enter the Luzon market. CITY SAVINGS BANK BANKING 22 ABOITIZ EQUITY VENTURES ANNUAL REPORT 2006
RESULTS OF OPERATIONS City Savings Bank (CSB) showed stellar performance in 2006, contributing π48 million, a 159% leap from the previous year. CSB’s return on equity catapulted to 52% in 2006 from 22% in 2005. Its return on assets jumped to 7.5% in 2006 from 4.4% of the previous year. Total deposits grew by 82% to π1.98 billion in 2006, allowing the bank to expand its loan portfolio to π1.7 billion, up by 98%, and still maintain a strong capital adequacy ratio of 14.7% at yearend. Its nonperforming loan ratio remained under control at 4.3%. At the end of 2006, the bank’s resources reached π2.4 billion, a 77% increase from 2005. The bank’s depositor base also increased by 19% to 58,948 in 2006. With Bangko Sentral ng Pilipinas’ (BSP) lifting of the moratorium on branch expansions, CSB purchased all the assets of seven CSB Finance branches and converted these into City Savings Bank branches. In addition, 2 new branches were opened in Cagayan de Oro City and in Roxas City bringing CSB’s total branch network to 16 as of yearend 2006. CSB will continue its expansion in the Visayas-Mindanao area and has plans to eventually enter the Luzon market. A loans and collection officer at City Savings Bank Cagayan de Oro attends to teachers applying for loans. Banking ABOITIZ EQUITY VENTURES ANNUAL REPORT 2006 23
Page 2 and 3: CONTENTS Financial Highlights 2 Rep
Page 4 and 5: FINANCIAL HIGHLIGHTS 06 05 04 Reven
Page 6 and 7: REPORT TO OUR STOCKHOLDERS FROM YOU
Page 8 and 9: We intend to list Aboitiz Power Cor
Page 10 and 11: Market Capitalization (in billion p
Page 12 and 13: RESULTS OF OPERATIONS FROM YOUR CHI
Page 14 and 15: RESULTS OF OPERATIONS VECO extended
Page 16 and 17: RESULTS OF OPERATIONS Subic EnerZon
Page 18 and 19: RESULTS OF OPERATIONS Hedcor, Inc.
Page 20 and 21: RESULTS OF OPERATIONS Luzon Hydro a
Page 22 and 23: RESULTS OF OPERATIONS UnionBank’s
Page 26 and 27: RESULTS OF OPERATIONS ATS has conve
Page 28 and 29: RESULTS OF OPERATIONS The increase
Page 30 and 31: REPORT TO OUR STOCKHOLDERS FROM YOU
Page 32 and 33: REPORT TO OUR STOCKHOLDERS Growth P
Page 34 and 35: SN ABOITIZ POWER, INC. With four ge
Page 36 and 37: HEDCOR, INC. A Hedcor engineer uses
Page 38 and 39: DAVAO LIGHT AND POWER COMPANY Davao
Page 40 and 41: VISAYAN ELECTRIC COMPANY VECO linem
Page 42 and 43: UNIONBANK OF THE PHILIPPINES UnionB
Page 44 and 45: CITY SAVINGS BANK Moving forward, C
Page 46 and 47: PILMICO FOODS CORPORATION Living up
Page 48 and 49: ABOITIZ TRANSPORT SYSTEM The entry
Page 50 and 51: ABOITIZ GROUP FOUNDATION, INC. In 2
Page 52 and 53: CHRISTMAS OUTREACH PROJECT Expressi
Page 54 and 55: ABOITIZ FUTURE LEADERS’ BUSINESS
Page 56 and 57: ABOITIZ EQUITY VENTURES LOCATION OF
Page 58 and 59: CORPORATE OFFICERS Stephen G. Parad
Page 60 and 61: Independent Auditors’ Report The
Page 62 and 63: ABOITIZ EQUITY VENTURES, INC. AND S
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ABOITIZ EQUITY VENTURES, INC. AND S
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Investor Information Head Office: A
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results of operations - Aboitiz

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