2009 ANNUAL REPORT FINANCIAL SUPPLEMENTS - BDO

REPORT OF INDEPENDENT AUDITORSTo the Board of Directors and to the StockholdersBanco De Oro Unibank, Inc.BDO Corporate Center7899 Makati Avenue, Makati CityWe have audited the accompanying financial statements of Banco De Oro Unibank, Inc. and subsidiaries (together hereinafter referred to asthe BDO Unibank Group) and Banco De Oro Unibank, Inc. (the Parent Bank), which comprise the statements of financial position as atDecember 31, 2009 and 2008, and the statements of income, comprehensive income, changes in equity and cash flows for each of the threeyears in the period ended December 31, 2009, and notes to financial statements comprising of a summary of significant accounting policiesand other explanatory notes.Management’s Responsibility for the Financial StatementsManagement is responsible for the preparation and fair presentation of these financial statements in accordance with the financialreporting standards in the Philippines for banks as described in Note 2 to the financial statements. This responsibility includes: designing,implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free frommaterial misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accountingestimates that are reasonable in the circumstances.Auditors’ ResponsibilityOur responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance withPhilippine Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit toobtain reasonable assurance whether the financial statements are free from material misstatement.An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financialstatements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’spreparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances,but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating theoverall presentation of the financial statements.BDO ANNUAL REPORT 20093We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.OpinionIn our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of BDO UnibankGroup and of the Parent Bank as of December 31, 2009 and 2008, and their financial performance and their cash flows for each of the threeyears in the period ended December 31, 2009, in accordance with financial reporting standards in the Philippines for banks as described inNote 2 to the financial statements.PUNONGBAYAN & ARAULLOBy: Benjamin P. ValdezPartnerCPA Reg. No. 0028485TIN 136-619-880PTR No. 2087602, January 4, 2010, Makati CityPartner’s SEC Accreditation No. 009-AR-2BIR AN 08-002511-11-2008 (Nov. 25, 2008 to 2011)Firm BOA/PRC Cert. of Reg. No. 0002Firm SEC Accreditation No. 002-FR-2February 27, 2010