The following table shows information relating to receivables from customers by collateral:Amount(In Thousands) %Group<strong>2004</strong> 2003Amount(In Thousands) %Secured by:Real estate P=36,246,185 23.82 P=37,031,181 26.34Trust receipts 18,026,136 11.84 16,604,349 11.81Chattel 10,642,637 6.99 9,213,874 6.56Mortgage trust indenture 8,614,739 5.66 9,064,568 6.45Bank deposits 5,879,478 3.86 4,392,043 3.12Shares of stock 2,915,307 1.92 6,776,851 4.82Warehouse receipts 16,847 0.01 184,616 0.13Others 4,438,686 2.92 3,762,726 2.6886,780,015 57.02 87,030,208 61.91Unsecured 65,411,405 42.98 53,544,957 38.09P=152,191,420 100.00 P=140,575,165 100.00Parent Company<strong>2004</strong> 2003Amount(In Thousands) %Amount(In Thousands) %Secured by:Real estate P=31,642,076 24.02 P=32,594,965 26.18Trust receipts 18,026,136 13.68 16,604,349 13.33Mortgage trust indenture 8,531,406 6.47 9,064,568 7.28Bank deposits 5,783,172 4.39 4,319,648 3.47Chattel 3,507,859 2.66 3,924,156 3.15Shares of stock 2,892,961 2.20 6,772,934 5.44Warehouse receipts 15,086 0.01 67,922 0.05Others 1,877,054 1.42 3,570,990 2.8772,275,750 54.85 76,919,532 61.77Unsecured 59,483,567 45.15 47,600,185 38.23P=131,759,317 100.00 P=124,519,717 100.00Information on the concentration of credit as to economic activity and industry sub-sectors follow:Amount(In Thousands) %Group<strong>2004</strong> 2003Amount(In Thousands) %Manufacturing:Consumer goods P=16,852,470 11.07 P=16,393,676 11.66Capital goods 15,191,418 9.98 14,574,487 10.37Intermediate goods 14,931,115 9.81 14,553,215 10.35Wholesale and retail 34,284,153 22.53 29,528,148 21.01Other community, social and personalservices 22,424,236 14.73 19,635,194 13.97Financial intermediation, renting andbusiness activities 12,855,524 8.45 13,143,805 9.35Transport, storage and communications 10,900,386 7.16 12,561,208 8.94Real estate 8,897,722 5.85 8,557,109 6.09Electricity, gas and water 7,258,136 4.77 3,427,855 2.44Agriculture, hunting and forestry 2,182,157 1.43 2,464,843 1.75Mining and quarrying 1,946,447 1.28 989,420 0.70Construction 1,683,147 1.11 2,095,220 1.49Others 2,784,509 1.83 2,650,985 1.88P=152,191,420 100.00 P=140,575,165 100.00- 56-
Amount(In Thousands) %Parent Company<strong>2004</strong> 2003Amount(In Thousands) %Manufacturing:Consumer goods P=16,735,133 12.70 P=16,254,525 13.05Intermediate goods 14,472,086 10.98 13,961,635 11.21Capital goods 14,066,089 10.68 13,901,589 11.16Wholesale and retail 33,103,337 25.12 28,224,651 22.67Financial intermediation, renting andbusiness activities 14,055,066 10.67 14,498,877 11.65Transport, storage and communications 9,557,224 7.25 11,261,460 9.04Real estate 8,366,555 6.35 7,900,873 6.35Electricity, gas and water 7,057,083 5.36 3,169,573 2.55Other community, social and personalservices 6,622,684 5.03 7,651,584 6.15Mining and quarrying 1,938,217 1.47 987,552 0.79Agriculture, hunting and forestry 1,925,701 1.46 2,268,916 1.82Construction 1,287,505 0.98 1,937,715 1.56Others 2,572,637 1.95 2,500,767 2.00P=131,759,317 100.00 P=124,519,717 100.00The BSP considers that credit concentration risk exists when the total loan exposure to a particular industry oreconomic sector exceeds 30% of the total loan portfolio.Receivable from SPV represents the amount due from the sale of certain nonperforming assets (NPAs) of the ParentCompany to an SPV in <strong>2004</strong> (Note 28). The sale and purchase agreement was formalized in November <strong>2004</strong> andapproved in principle by the BSP in December <strong>2004</strong> having qualified as a true sale.The more significant terms of the sale are as follows:a. Certain NPAs of the Parent Company were purchased by the SPV for a total consideration of P=3.3 billion.b. The agreed purchase price of the NPAs was and shall be paid as follows:i. An initial amount of P=0.5 billion, booked as part of Accounts Receivable under Other Assets; andii.The balance of P=2.8 billion, through issuance of SPV Notes (the Notes), which shall be paidbased on a cashflow waterfall arrangement and interest rate of 20% per annum.- 57-
- Page 6: The Bank’s extensive distribution
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- Page 12 and 13: Washington - Gil Puyat 5 May-05-200
- Page 14 and 15: PART II - OPERATIONAL AND FINANCIAL
- Page 16 and 17: ITEM 6. MANAGEMENT’S DISCUSSION A
- Page 18 and 19: Prospects for the FutureThe Bank’
- Page 20 and 21: Society Dialogue) and Member of the
- Page 22 and 23: Specific slots for independent dire
- Page 24 and 25: Grace A. Sumalpong, 48, is Senior V
- Page 26 and 27: ITEM 11.SECURITY OWNERSHIP OF CERTA
- Page 28 and 29: The total number of shares owned by
- Page 30 and 31: SIGNATURESPursuant to the requireme
- Page 32 and 33: STATEMENT OF MANAGEMENT’S RESPONS
- Page 34 and 35: EQUITABLE PCI BANK, INC. AND SUBSID
- Page 36 and 37: EQUITABLE PCI BANK, INC. AND SUBSID
- Page 38 and 39: EQUITABLE PCI BANK, INC. AND SUBSID
- Page 40 and 41: EQUITABLE PCI BANK, INC. AND SUBSID
- Page 42 and 43: • PAS 32, Financial Instruments:
- Page 44 and 45: The Group will also adopt in 2005 t
- Page 46 and 47: PCIB Securities, Inc. (PCIB Securit
- Page 48 and 49: Receivables from customers also inc
- Page 50 and 51: P=5 million and above and by intern
- Page 52 and 53: Service charges and penalties are r
- Page 54 and 55: IBODI consists of the following:Gro
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- Page 60 and 61: GroupParent Company2003(As20042003(
- Page 62 and 63: As of December 31, 2004 and 2003, t
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- Page 66 and 67: and claims of holders of all classe
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- Page 72 and 73: (As restated -Note 2)(As restated -
- Page 74 and 75: These segments are the basis on whi
- Page 76 and 77: Percent of past due non-DOSRI accou
- Page 78 and 79: eceived SPV Notes amounting to P=2.
- Page 80 and 81: Equitable Venture Capital Corp.Equi