2011 Annual Report - BDO

A reconciliation of the carrying amounts of bank premises, furniture, fixtures and equipment atthe beginning and end of 2011 and 2010 is shown below.Furniture,Fixtures andLeaseholdEquipment Improvements TotalBalance at January 1, 2011,net of accumulateddepreciation and amortization P 12,069,823 P 12,214,268 P 24,284,091Additions 20,136,368 32,632,440 52,768,808Depreciation and amortizationcharges for the year ( 9,219,437 ) ( 10,135,896 ) ( 19,355,333 )Balance at December 31, 2011net of accumulateddepreciation and amortization P 22,986,754 P 34,710,812 P 57,697,566Balance at January 1, 2010,net of accumulateddepreciation and amortization P 10,718,151 P 21,770,744 P 32,488,895Additions 8,232,731 3,394,086 11,626,817Depreciation and amortizationcharges for the year ( 6,881,059 ) ( 12,950,562 ) ( 19,831,621 )Balance at December 31, 2010net of accumulateddepreciation and amortization P 12,069,823 P 12,214,268 P 24,284,091Total cost of fully depreciated assets, consisting of transportation equipment and furniture,fixtures and equipment amounted to P43,764,543 in 2011 and P20,130,235 in 2010 are stillused by the Bank.The BSP requires that investments in bank premises, furniture, fixtures and equipment do notexceed 50% of the Bank’s unimpaired capital. As of December 31, 2011 and 2010, the Bankhas satisfactorily complied with this requirement.www.bdo.com.ph 91