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62 BANCO DE ORO14. OTHER RESOURCESOther resources consist of the following:ConsolidatedParent2005 2004 2005 2004Noncurrent assets held by Onshore (see Note 23) P 8,931,622 P - P - P -Deposits under escrow (see Note 23) 2,931,054 2,931,400 2,931,054 2,931,400Deferred tax assets (see Note 21) 1,414,276 1,609,933 1,388,425 1,559,217Foreign currency notes and coins on hand 715,093 834,345 715,093 834,345Goodwill (see Note 23) 600,000 - 600,000 -Retirement benefit asset (see Note 20) 185,232 22,967 166,103 4,198Deferred charges - net of amortization 183,664 261,561 170,487 246,962Documentary stamps tax 122,521 52,438 122,521 52,438Returned checks and other cash items 84,915 88,010 84,915 88,010Others 263,124 256,338 133,194 212,535P 15,431,501 P 6,056,992 P 6,311,792 P 5,929,105In the consolidated financial statements, non-current assets held by Onshore pertain to non-performing assets acquired by Onshore fromUnited Overseas Bank of the Philippines (UOBP) in relation to the Group’s acquisition of certain assets and branch licenses and assumptionof certain liabilities of UOBP (see Note 23). This is presented under Other Resources as approved by the BSP.Deposits under escrow amounting to P2,931,054 and P2,931,400 as of December 31, 2005 and 2004, respectively, pertain to the portion ofthe cash received by the Bank in consideration for its assumption of First e-Bank Corporation’s deposits and other liabilities (see Note 23).Amortization expense on deferred charges (mostly branch licenses and computer software) amounted to P5,286 in 2005 and P54,431 andare included in Other Expenses in the statements of income (see Note 18).15. DEPOSIT LIABILITIESThis account is composed of the following:ConsolidatedParent2005 2004 2005 2004Due to banks:Demand P 758,533 P 594,765 P 106,959 P 80,615Savings 346,820 255,591 427,392 255,591Time 4,306,829 2,457,625 1,064,778 1,6655,412,182 3,307,981 1,599,129 337,871Due to customers:Demand 3,968,303 3,025,878 4,012,925 3,046,733Savings 98,936,278 77,419,782 99,207,221 77,600,767Time 51,349,360 44,893,677 51,372,261 44,894,579154,253,941 125,339,337 154,592,407 125,542,079Total P 159,666,123 P 128,647,318 P 156,191,536 P 125,879,950The breakdown of this account, as to currency, is as follows:ConsolidatedParent2005 2004 2005 2004Foreign currency P 61,648,890 P 54,960,183 P 59,192,904 P 53,140,100Peso 98,017,233 73,687,135 96,998,632 72,739,850P 159,666,123 P 128,647,318 P 156,191,536 P 125,879,950
2005 ANNUAL REPORT63The maturity profile of this account is presented below:ConsolidatedParent2005 2004 2005 2004Less than one year P 125,568,448 P 102,465,903 P 124,611,812 P 101,072,165One to five years 18,116,755 13,486,664 15,598,804 12,113,034Beyond five years 15,980,920 12,694,751 15,980,920 12,694,751P 159,666,123 P 128,647,318 P 156,191,536 P 125,879,950Deposit liabilities are in the form of demand, savings and time deposit accounts bearing interest rates of 3.0% to 9.73% per annum in2005 and 1.0% to 7.25% per annum in 2004. Demand and savings deposits usually have both fixed and variable interest rates while timedeposit has fixed interest rates except for the peso-denominated long-term negotiable certificates of deposits which are repriced everyquarter.On December 23, 2004, BSP approved the Bank’s application to issue in two or more tranches of up to P5,000,000 worth of pesodenominatedlong-term negotiable certificates of deposits within one year from date of approval. The first tranche amounting toP2,100,000 was issued on June 1, 2005 and will mature on June 2, 2010 and the second tranche amounting to P2,900,000 was issued onNovember 23, 2005 and will mature on November 24, 2010. This is presented as part of the Time Deposit account in the 2005 statementof condition.16. BILLS PAYABLEThis account is composed of the following:ConsolidatedParent2005 2004 2005 2004Local banks P 14,657,038 P 5,857,480 P 4,911,639 P 3,457,283Foreign banks 14,743,834 8,958,350 12,637,806 8,958,350Senior notes 8,038,431 8,565,593 8,038,431 8,565,593Philippine Deposit Insurance Corporation (PDIC)(see Note 23) 4,426,225 - 4,426,225 -SMPHI (Preferred shares) 2,776,718 2,855,639 2,776,718 2,855,639International Finance Corporation (IFC) 532,754 1,116,894 532,754 1,116,894BSP 170,351 79,266 170,351 79,266Others 500,000 1,174,077 - 1,174,077P 45,845,351 P 28,607,299 P 33,493,924 P 26,207,102The breakdown of this account, as to currency follows:ConsolidatedParent2005 2004 2005 2004Foreign currency P 27,265,482 P 23,509,485 P 24,036,164 P 22,090,342Peso 18,579,869 5,097,814 9,457,760 4,116,760P 45,845,351 P 28,607,299 P 33,493,924 P 26,207,102The maturity profile of this account is presented below:ConsolidatedParent2005 2004 2005 2004Less than one year P 25,905,879 P 20,458,036 P 14,107,201 P 18,064,958One to five years 14,516,155 7,389,766 13,963,407 7,382,647Beyond five years 5,423,317 759,497 5,423,316 759,497P 45,845,351 P 28,607,299 P 33,493,924 P 26,207,102
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Banco de Oro Universal Bank provide
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Page 28 and 29: 26 BANCO DE OROStatements of Income
Page 30 and 31: 28 BANCO DE OROStatements of Cash F
Page 32 and 33: 30 BANCO DE OROThe following reconc
Page 34 and 35: 32 BANCO DE OROb. The re-measuremen
Page 36 and 37: 34 BANCO DE ORO2.5 Recognition as T
Page 38 and 39: 36 BANCO DE OROWith regard to inves
Page 40 and 41: 38 BANCO DE OROThe financial statem
Page 42 and 43: 40 BANCO DE OROAmounts accumulated
Page 44 and 45: 42 BANCO DE ORO3.15 ProvisionsProvi
Page 46 and 47: 44 BANCO DE ORO3.19 Impairment of N
Page 48 and 49: 46 BANCO DE ORO3.25 Trust Activitie
Page 50 and 51: 48 BANCO DE OROThe CRMG is also res
Page 52 and 53: 50 BANCO DE OROParent Company2004On
Page 54 and 55: 52 BANCO DE ORO3.28.4 Credit RiskCr
Page 56 and 57: 54 BANCO DE ORO6. DUE FROM OTHER BA
Page 58 and 59: 56 BANCO DE OROOther debt securitie
Page 60 and 61: 58 BANCO DE OROIncluded in these ac
Page 62 and 63: 60 BANCO DE OROParentLeasehold Furn
Page 66 and 67: 64 BANCO DE OROBills payable bears
Page 68 and 69: 66 BANCO DE OROOther operating expe
Page 70 and 71: 68 BANCO DE OROThe reconciliation o
Page 72 and 73: 70 BANCO DE OROb. 10% VAT will rema
Page 74 and 75: 72 BANCO DE OROAs part of the MOA,
Page 76 and 77: 74 BANCO DE OROb. Secured Liabiliti
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