Via ODiSy March 22, 2012 PHILIPPINE STOCK EXCHANGE ... - BDO

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- 91 -13.01 Equity InvestmentsEquity investments consist of the following:BDO Unibank Group Parent Bank%InterestHeld 2011 2010 2011 2010Philippine SubsidiariesBDO Private Bank, Inc. (BDO Private) 100% P - P - P 2,579 P 2,579BDO Strategic Holdings, Inc. (BDOSHI) 100% - - 8,184 2,135BDO Leasing and Finance, Inc. (BDO Leasing) 87% - - 1,878 1,878BDO Elite Savings Bank, Inc.(formerly GE Money Bank, Inc. or GEMB) 99% - - 1,500 1,500EBC Strategic Holdings Corporation (ESHC) 100% - - - 1,421BDO Capital & Investment Corporation(BDO Capital) 100% - - 300 300BDO Technology Center, Inc. (BDO Technology) 100% - - - 47Equimark - NFC Development Corp. 60% - - 45 45PCIB Securities, Inc. 100% - - 39 39PCI Realty Corporation 100% - - 34 34BDO Insurance Brokers, Inc. (BDOI) 100% - - 11 11PCI Insurance Brokers, Inc. (PCI Insurance) 100% - - 8 8Equitable Card Network, Inc. 100% - - - -Total subsidiaries - - 14,578 9,997Foreign SubsidiariesPCI Express Padala (HK) Ltd. 100% - - - 215Express Padala HK Ltd. 100% - - 28 28BDO Remittance (USA), Inc 100% - - 26 26PCIB Europe, S.P.A. 100% - - 1 1Express Padala Frankfurt GmbH 100% - - 1 1Equitable PCI Express Padala (Nederland) B.V. 100% - - - 1- - 56 272AssociatesManila North Tollways Corporation (MNTC) 12% 1,405 1,405 1,405 1,405SM Keppel Land, Inc. 50% 1,658 1,294 1,658 1,294Generali Pilipinas Holdings, Inc. (Generali) 40% 1,235 1,235 1,168 1,168Northpine Land Incorporated 20% 232 232 232 232Taal Land 33% 170 170 170 170Others * 10 10 10 104,710 4,346 4,643 4,279Accumulated equity in net losses:Balance at beginning of year ( 420 ) ( 436 ) - -Equity in net profit during the year 681 16 - -261 ( 420 ) - -Dividends received ( 225) - - -Net investments in associates 4,746 3,926 4,643 4,279Gross 4,746 3,926 19,277 14,548Allowance for impairment ( 559 ) ( 539 ) ( 4,375 ) ( 4,355 )Net P 4,187 P 3,387 P 14,902 P 10,193* This consists of various insignificant investments in associates, thus, percentage held is no longer disclosed.The BDO Unibank Group’s percentage of interest held in each subsidiary and associateis the same as that of the Parent Bank, except for Generali which is at 40% at the BDOUnibank Group and 37.5% at the Parent Bank.
- 92 -The BDO Unibank Group’s subsidiaries and associates are all incorporated in thePhilippines, except for the following:SubsidiariesPCI Express Padala (HK) Ltd.Express Padala HK Ltd.BDO Remittance (USA), Inc.Express Padala Frankfurt GmbHPCIB Europe, S.P.AEquitable PCI Express Padala (Nederland) B.V.Country of IncorporationHong KongHong KongUnited States of AmericaGermanyItalythe NetherlandsThe following table presents the aggregated unaudited financial information of BDOUnibank Group’s associates as of and for the years ended December 31, 2011, 2010 and2009:2011 2010 2009Assets P 23,932 P 22,819 P 3,941Liabilities 12.313 11,890 799Equity 11,619 10,929 3,142Revenues 7,138 8,101 ( 9)Net profit (loss) 2,329 1,750 ( 352 )13.01.01 Dividend DeclarationsIn 2011 and 2010, the Parent Bank’s share in the cash dividends declared by BDOUnibank Group's subsidiaries amounted to P411 and P791, respectively. These arepresented as part of Dividend income under Other Operating Income in the ParentBank statements of income (see Note 22). Out of the total dividends declared, theParent Bank received P95 and P102 in 2011 and 2010, respectively.13.01.02 Mergers Among SubsidiariesOn April 30, 2011, the Parent Bank’s BOD approved the five-way merger (the Merger)of wholly-owned subsidiaries: BDOSHI, Equitable Card Network (ECN), Inc., ESHC,BDO Technology, and Strategic Property Holdings, Inc. (SPHI), with BDOSHI as thesurviving corporation. The Merger has been undertaken as part of the streamlining ofthe BDO Unibank Group’s organizational structure. The Merger was approved by theBSP and the SEC on November 29, 2011 and December 29, 2011, respectively, and wasaccounted for using the pooling-of-interests method. The Parent Bank’s investment inits subsidiaries did not increase as a result of this exercise except for the following:(a) dacion en pago of 3,621,159 preferred shares and 2,000,001 common shares ofBDOSHI held by ESHC for the P557 advances from the Parent Bank (presented aspart of Advances to subsidiaries under Other Resources in the 2010 statement offinancial position), and (b) subscription of additional 40,231,915 preferred shares ofBDOSHI through conversion of advances to BDOSHI and ESHC totalingP2,626 (recognized as part of Advances to subsidiaries under Other Resources in the2010 statement of financial position) and advances to SPHI amounting toP1,397 (recognized as part of Accounts receivable under Loans and Receivables in the2010 statement of financial position) (see Notes 10 and 26).
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Via ODiSyMarch 22, 2012PHILIPPINE S
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SEC FORM 17-A
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TABLE OF CONTENTSPage No.PART I- BU
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Philippine Subsidiaries% Interest H
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sophisticated investors. The Bank
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(v)Transactions with and/or Depende
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BDO BANK-OWNED PROPERTIES UTILIZED
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BDO BANK-OWNED PROPERTIES UTILIZED
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2) Leased PropertiesThe Group lease
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Branch Address Lease Lease ExpiryEf
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Item 4. Submission of Matters to a
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On 29 January 2011, the Board of th
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Total Equity grew by 9% to P97.0 bi
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Balance Sheet - 2010 vs. 2009Total
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Comprehensive Income - For the year
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Item 7. Financial StatementsThe con
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UOB Singapore. He was formerly the
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Director of the Philippine Global C
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Name Age PositionInvestments GroupG
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Antonio N. Cotoco, 63, is Senior Ex
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Bienvenido M. Juat, Jr., 58, is Exe
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Ma. Ophelia Ll. Camiña, 58, is Sen
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Corporation; a Trustee of PCI Bank
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Dalmacio D. Martin, 50, is Senior V
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Luis S. Reyes, Jr., 54, is Senior V
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Equitable Banking Corporation in Ju
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The above compensation includes the
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Title ofClassName of BeneficialOwne
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esponsible for the setting up of th
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2 May 2011 Retirement of Ms. Nenita
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Setting the annual shareholders’
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AUDITED FINANCIAL STATEMENTSDECEMBE
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BDO UNIBANK, INC. AND SUBSIDIARIES(
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- 2 -Net UnrealizedFair ValueGains
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- 2 -BDO Unibank GroupParent BankNo
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1.02 Approval of Financial Statemen
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- 4 -Parent BankFRSP Difference PFR
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- 6 -(ii) Philippine Interpretation
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- 8 -• PFRS 7 (Amendment), Financ
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- 10 -(v) PFRS 9, Financial Instrum
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- 12 -The financial statements of s
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- 14 -2.06 Financial AssetsFinancia
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- 16 -HTM investments consist of go
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- 18 -The value produced by a model
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- 20 -2.12 Premises, Furniture, Fix
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- 22 -Deposit liabilities and other
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- 24 -2.20 Revenue and Expense Reco
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- 26 -Provisions are measured at th
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- 28 -Future cash flows in a group
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- 30 -Foreign exchange gains and lo
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- 32 -(e)Executive Stock Option Pla
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- 34 -3.01 Critical Management Judg
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- 36 -3.02 Key Sources of Estimatio
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- 38 -(iv) Loans and Other Receivab
Page 137 and 138: - 40 -Parent BankNotes Level 1 Leve
Page 139 and 140: - 42 -The retirement benefit asset
Page 141 and 142: - 44 -• It then disseminates the
Page 143 and 144: - 46 -2010MoreOne to than three Mor
Page 145 and 146: - 48 -2010MoreOne to than three Mor
Page 147 and 148: - 50 -Parent Bank2011 2010ForeignFo
Page 149 and 150: - 52 -BDO Unibank Group2010More Mor
Page 151 and 152: - 54 -Parent Bank2010More MoreOne t
Page 153 and 154: - 56 -A summary of the VaR position
Page 155 and 156: - 58 -Parent BankImpact onImpact on
Page 157 and 158: - 60 -b. SubstandardAccounts classi
Page 159 and 160: - 62 -BDO Unibank Group2010Loans an
Page 161 and 162: - 64 -Parent Bank2010Loans andTradi
Page 163 and 164: - 66 -4.02.04.03 Concentrations of
Page 165 and 166: - 68 -5. SEGMENT REPORTINGThe BDO U
Page 167 and 168: - 70 -Commercial Investment Private
Page 169 and 170: - 72 -At Amortized Carrying FairCos
Page 171 and 172: - 74 -8. DUE FROM OTHER BANKSThe ba
Page 173 and 174: - 76 -The aggregate contractual or
Page 175 and 176: - 78 -The fair values of government
Page 177 and 178: - 80 -The fair values are determine
Page 179 and 180: - 82 -Reclassification of CLNs from
Page 181 and 182: - 84 -Per MORB, non-performing loan
Page 183 and 184: - 86 -Leasehold Furniture,Rights an
Page 185 and 186: - 88 -Land Buildings TotalJanuary 1
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Page 191 and 192: - 94 -Full allowance for impairment
Page 193 and 194: - 96 -This account is composed of t
Page 195 and 196: - 98 -The breakdown of this account
Page 197 and 198: - 100 -On October 19, 2009, the pre
Page 199 and 200: - 102 -On December 29, 2009, BSP is
Page 201 and 202: - 104 -19.02 Capital AllocationThe
Page 203 and 204: - 106 -annum of the par value. Subs
Page 205 and 206: - 108 -20. INTEREST INCOMEInterest
Page 207 and 208: - 110 -Other operating expenses con
Page 209 and 210: - 112 -The movements in the present
Page 211 and 212: - 114 -Parent Bank2011 2010 2009 20
Page 213 and 214: - 116 -(c) Other Transactions with
Page 215 and 216: - 118 -ii. On January 31, 2008, BDO
Page 217 and 218: - 120 -27. TAXES27.01 Current and D
Page 219 and 220: - 122 -Movements in net deferred ta
Page 221 and 222: - 124 -27.04 Gross Receipts Tax (GR
Page 223 and 224: - 126 -28. EARNINGS PER SHAREBasic
Page 225 and 226: - 128 -29. SELECTED FINANCIAL PERFO
Page 227 and 228: - 130 -Sale of BankardBDO (as succe
Page 229 and 230: - 132 -PEACe bondsOn October 18, 20
Page 231: - 134 -Following is a summary of BD
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Via ODiSy March 22, 2012 PHILIPPINE STOCK EXCHANGE ... - BDO

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