2009 ANNUAL REPORT FINANCIAL SUPPLEMENTS - BDO

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NOTES TO FINANCIAL STATEMENTSDecember 31, 2009, 2008 and 2007(Amounts in Millions of Philippine Pesos, Except Per Share Data or as Indicated)(d)(e)On April 7, 2008, the respective Board of Directors of BDO Technology and PCI AutomationCenter, Inc., approved the Plan of Merger with BDO Technology as the surviving entity. Themerger was approved by the SEC on September 5, 2008.On April 7, 2008, the respective Board of Directors of BDOI and EBC Insurance Brokerage,Inc. approved a Plan of Merger with BDOI as the surviving entity. The merger was approved bythe SEC on August 21, 2008.The above mergers were accounted for using the pooling-of-interests method since the merging entitiesare under the common control of the BDO Unibank Group.13.5.3 AcquisitionBDO ANNUAL REPORT 200998On August 24, 2009, the Parent Bank acquired 98.81% of the issued and outstanding common stockof GEMB (see Note 26.3) for a total consideration of P2,000. The agreed price for the net assets ofGEMB at the closing date amounted to P1,500. Hence, the Parent Bank recognized goodwill of P500representing the excess of purchase price over the fair value of GEMB’s net assets. The goodwill isconsidered a part of Other Resources account in the statement of financial position. The acquisition wasapproved by the Board of Directors and the BSP on May 27, 2009 and July 30, 2009, respectively.14. ALLOWANCE FOR IMPAIRMENTChanges in the allowance for impairment are summarized as follows:BDO Unibank Group Parent Bank2009 2008 2009 2008Balance at beginning of year:AFS securities P 5,645 P 608 P 4,714 P 258HTM investments 673 844 673 844Loans and other receivables 19,131 18,545 18,858 18,165Investment properties 1,028 1,079 1,009 1,051Other resources 7,299 6,956 9,586 10,06533,776 28,032 34,840 30,383Impairment losses - net 6,153 5,232 5,775 5,171Reclassification/write-off/foreign currency revaluation (968) 512 (1,215) (714)Balance at end of year:AFS securities 6,526 5,645 5,432 4,714HTM investments 737 673 737 673Loans and other receivables 22,496 19,131 21,364 18,858Investment properties 1,271 1,028 1,253 1,009Other resources 7,931 7,299 10,614 9,586P 38,961 P 33,776 P 39,400 P 34,840
NOTES TO FINANCIAL STATEMENTSDecember 31, 2009, 2008 and 2007(Amounts in Millions of Philippine Pesos, Except Per Share Data or as Indicated)Total impairment losses on financial assets amounted to P5,261, P4,737, and P3,292 in 2009, 2008 and 2007,respectively, in the BDO Unibank Group financial statements and P4,892, P4,575, and P3,117 in 2009, 2008 and2007, respectively, in the Parent Bank financial statements.Total impairment losses on non-financial assets amounted to P892, P495, and P826 in 2009, 2008 and 2007,respectively, in the BDO Unibank Group financial statements and P883, P596 and P685 in 2009, 2008 and 2007,respectively, in the Parent Bank financial statements.In 2008, the BDO Unibank Group reversed excess allowance on Loans amounting to P1,506 reported as part ofImpairment Losses account in the BDO Unibank Group and Parent Bank statements of income.15. DEPOSIT LIABILITIESThe breakdown of this account follows:BDO Unibank Group Parent Bank2009 2008 2009 2008Demand P 42,692 P 36,321 P 32,910 P 22,814Savings 354,407 263,248 354,847 264,803Time 297,579 337,185 282,048 325,350P 694,678 P 636,754 P 669,805 P 612,967This account is composed of the following (by counterparties):BDO ANNUAL REPORT 200999BDO Unibank Group Parent Bank2009 2008 2009 2008Due to other banksDemand P 1,194 P 879 P 1,063 P 910Savings 2,172 3,156 2,172 3,157Time 1,191 3,440 1,164 1,7534,557 7,475 4,399 5,820Due to customersDemand 41,498 35,443 31,846 21,904Savings 352,235 260,091 352,676 261,646Time 296,388 333,745 280,884 323,597690,121 629,279 665,406 607,147P 694,678 P 636,754 P 669,805 P 612,967
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STATEMENTS OF INCOMEFor the Years E
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2009 ANNUAL REPORT FINANCIAL SUPPLEMENTS - BDO

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