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3 4 0 0 1
B D O U N I B A N K , I N C .
B D O C O R P O R A T E C E N T E R , 7 8 9 9
M A K A T I A V E N U E , M A K A T I C I T Y
0 6 3 0 S E C 1 7 - Q
C F DDept. Requiring this Doc.
Total No.of Stockholders Domestic Foreign
Amended Articles Number/Section
12,983 Total Amount of Borrowings
COVER SHEET
S.E.C. Registration Number
(COMPANY'S FULL NAME)
(BUSINESS ADDRESS: NO. STREET CITY/TOWN/PROVINCE)
Annual Meeting
Secondary License type, if applicable
RUBY A. CRUZ 856-7434/840-7000 loc 4575Contact Person Company Telephone Number
Every last Friday of the month of MayMonth Day Form Type
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b l h d b l d
1. For the quarter ended June 30, 2014.
2. Commission identification number 34001 3. BIR Tax Identification No. 000-708-174-000
BDO UNIBANK, INC.
4. Exact name of issuer as specified in its charter
Makati City, Philippines5. Province, country or other jurisdiction of incorporation or organization
6. Industry Classification Code (For SEC Use Only)
BDO Corporate Center, 7899 Makati Avenue, Makati City7. Address of issuer's principal office Postal Code
856-7434/840-7000 LOC 4575
8. Issuer's Telephone number, including area code
NA
9. Former name, former address and former fiscal year, if changed since last report
10. Securities registered pursuant to Section 8 and 12 of the Code of Section 4 and 8of the RSA
Number of shares of Amount of Title of each class common stock outstanding Debt Outstanding
QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIESREGULATION CODE AND BRC RULES 17 (2) (b) THEREUNDER
SECURITIES AND EXCHANGE COMMISSION
SEC FORM 17-Q
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17-Q
I hereby certify that all the information set forth in the above report are true and correct
nowledge.
OF THE PHILIPPINES } KATI } S.S.
SUBSCRIBED AND SWORN TO before me this ___________
___________ day of August,
ove affiant exhibiting to me his/her described Competent Evidence of Identity (CEI):
Name
Lucy Co Dy Passport - EB1933736 02.17.2011/Manila
Notary Public
CTC 02254646 02.10.2014/Makati City
LUCY CO DY (EVP Comptroller) Authorized Signatory
(PRINTED NAME & DESIGNATION)
CEI Date & Place Issued
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quirements of the Securities Regulation Code, the issuer has duly caused this reportbehalf by the undersigned thereunto duly authorized.
........................................................................................ BDO UNIBANK, INC.
................................................................................. LUCY CO DYEVP/COMPTROLLER
..................................................................................... August 4, 2014
l /Accountingr................................................................................ LUCY CO DY
.................................................................................EVP/COMPTROLLER
.................................................................................... August 4, 2014
ned
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Audited As of As of June 30, 2014 December 31, 2013
CASH AND OTHER CASH ITEMS P 22,617 P 27,824DUE FROM BANGKO SENTRAL NG PILIPINAS 343,266 408,383DUE FROM OTHER BANKS 32,866 26,939INVESTMENT SECURITIES
At Fair Value Through Profit or Loss 9,066 9,748 Available-for-Sale net 184,670 218,162
LOANS AND OTHER RECEIVABLES net 1,030,827 922,553BANK PREMISES, FURNITURE, FIXTURES AND EQUIPMENT net 19,125 17,908INVESTMENT PROPERTIES 10,083 10,381EQUITY INVESTMENTS net 5,161 4,839DEFERRED TAX ASSETS 5,861 5,941OTHER RESOURCES - net 20,967 20,100
TOTAL RESOURCES P 1,684,509 P 1,672,778
DEPOSIT LIABILITIES P PDemand 85,773 79,601Savings 771,133 695,243Time 509,011 570,489 Total Deposit Liabilities 1,365,917 1,345,333
BILLS PAYABLE 86,266 94,243SUBORDINATED NOTES PAYABLE 0 3,007OTHER LIABILITIES 63,649 65,841
Total Liabilities 1,515,832 1,508,424
EQUITY
Attributable to Shareholders of the Parent Company 168,078 163,711Minority Interest 599 643
Total Equity 168,677 164,354
(Amounts in Millions of Pesos)
RESOURCES
LIABILITIES AND CAPITAL FUNDS
BDO UNIBANK, INC. & SUBSIDIARIESBDO Corporate Center, 7899 Makati Avenue, Makati City
CONDENSED STATEMENTS OF FINANCIAL POSITION
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For the six-month For the six-month For the For thePeriod ended Period ended Quarter ending Quarter endingJune 30, 2014 June 30, 2013 June 30, 2014 June 30, 2013
INTEREST INCOME ONLoans and Receivables P 25,374 P 21,904 P 13,050 P 11,100Investment Securities 3,759 4,714 1,761 2,214Due from Other Banks 1,396 294 594 177Others 112 79 57 37
Total Interest Income 30,641 26,991 15,462 13,528
INTEREST EXPENSE ONDeposit liabilities 5,010 5,317 2,513 2,369Bills Payable and Others 954 1,811 457 858
Total Interest Expense 5,964 7,128 2,970 3,227
NET INTEREST INCOME 24,677 19,863 12,492 10,301
IMPAIRMENT LOSSES 2,553 4,001 1,260 2,125
NET INTEREST INCOME AFTER IMPAIRMENT LOSSES 22,124 15,862 11,232 8,176
OTHER OPERATING INCOMEService Charges, Fees and Commissions 7,078 6,533 3,780 3,712Trading Gain net 4,006 8,803 2,317 (400)Trust Fees 1,260 1,186 641 629Foreign Exchange Gain/(Loss) net 177 2,160 (308) 2,167Miscellaneous net 1,764 1,602 829 882
Total Other Operating Income 14,285 20,284 7,259 6,990
OTHER OPERATING EXPENSESEmployee Benefits 8,238 7,644 4,856 4,495Occupancy 2,710 2,381 1,393 1,185Taxes and licenses 2,665 2,298 1,334 1,038Security, Clerical, Messengerial and Janitorial 1,182 1,124 608 570
Insurance 1,353 961 680 481 Advertising 1,377 1,261 681 631Litigation/Assets Acquired 286 367 143 187Miscellaneous 6,424 5,053 2,640 1,990
BDO UNIBANK, INC. & SUBSIDIARIESBDO Corporate Center, 7899 Makati Avenue, Makati City
CONDENSED STATEMENTS OF INCOME(Amounts in Millions of Pesos Except Per Share Data)
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For the six-monthperiod endingJune 30, 2014
For the six-monthperiod endingJune 30, 2013
NET PROFIT 11,055 14,172
OTHER COMPREHENSIVE INCOME(LOSS)
Net unrealized fair value gains(losses)on available-for-sale securities 1,198 (4,081)
Translation adjustment related to foreign operations (26) 376
Other Comprehensive Income, net of tax 1,172 (3,705)
Items that will not be reclassified to profit or loss: Actuarial gains (losses) on remeasurement of retirement
benefit asset, net of tax (1) 0(1) 0
Total Other Comprehensive Income, Net of Tax 1,171 (3,705)
TOTAL COMPREHENSIVE INCOME(LOSS) 12,226 10,467
Attributable To:Shareholders of the Parent Bank 12,226 10,430Non-controlling Interest 0 37
12,226 10,467
BDO UNIBANK, INC. & SUBSIDIARIESBDO Corporate Center, 7899 Makati Avenue, Makati City
STATEMENTS OF COMPREHENSIVE INCOME(Amounts in Millions of Pesos)
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2014 2013
CASH FLOWS FROM OPERATING ACTIVITIESProfit before tax 12,174 15,057
Adjustments for:Interest income (30,641) (26,991)Interest received 31,121 28,016Interest expense 5,964 7,128Interest paid (6,263) (7,431)Impairment losses 2,553 4,001Depreciation and amortization 1,533 1,332
Share in (profit)loss of associates (308) (405)Fair value loss (gain) 127 537
Operating loss before changes in operatingresources and liabilities 16,260 21,244Decrease (increase) in financial assets at fair value
through profit or loss 648 (4,649)Decrease (increase) in loans and other receivables (85,436) (38,781)Decrease (increase) in investment properties 612 (70)Decrease (increase) in other resources (2,237) (2,434)Increase (decrease) in deposit liabilities 20,859 84,030
Increase (decrease) in other liabilities (7,244) 1,988Cash generated from (used in) operations (56,538) 61,328Cash paid for income tax (801) (585)
Net Cash From (Used in) Operating Activities (57,339) 60,743
CASH FLOWS FROM INVESTING ACTIVITIESNet acquisitions of bank premises, furniture,
fixtures and equipment (2,346) (2,030)Net decrease (increase) in held-to-maturity investments 0 129,364
Net decrease (increase) in available-for-sale financial assets 33,881 (118,940)
Net Cash From (Used in) Investing Activities 31,535 8,394
CASH FLOWS FROM FINANCING ACTIVITIES
BDO UNIBANK, INC. & SUBSIDIARIESCASH FLOW STATEMENTS
FOR THE PERIODS ENDED JUNE 30, 2014 AND 2013(Amounts in Millions of Pesos)
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CommonStock
PreferredStock
CommonStock
Options
TreasuryShares at
Cost
Additional Paid-in Capital
SurplusReserves
OtherReserves
Surplus Free
Net UnrealizedFair Value
Gain(Losses) on Available-for-sale
Securities
Accumulated Actuarial
Gains/(Losses)
RevaluationIncrement
AccumulatedTranslation
Adjustment
Total Atributableto Shareholders
of the ParentBank
Non-Controlling
InterestTotal Equity
Balance at January, 2014 35,808P 5,150P -P -P 63,908P 2,994P 12P 55,756P 2,609P 3,407)(P 1,027P 146)(P 163,711P 643P 164,354P
Transactions with ownersCash Dividend (7,859) (7,859) (44) (7,903)
Total transactions with owners 0 0 0 0 0 0 0 (7,859) 0 0 0 0 (7,859) (44) (7,903)
Total comprehensive income 11,048 1,207 (1) (28) 12,226 0 12,226
Transfer to/(from) Surplus FreeTrust reserve 36 (36) 0 0
0 0 0 0 0 36 0 (36) 0 0 0 0 0 0 0
Balance at June 30, 2014 35,808P 5,150P -P -P 63,908P 3,030P 12P 58,909P 3,816P 3,408)(P 1,027P 174)(P 168,078P 599P 168,677P
Balance at January, 2013 35,808P 5,150P -P -P 63,908P 2,254P 41,748P 7,641P 3,484)(P 1,116P 427)(P 153,714P 657P 154,371P
Transactions with ownersNet effect of percentage ownership over subsidiaries 3 3 (37) (34)Cash Dividends (7,860) (7,860) (48) (7,908)
Audit Adjustments (40) (40) 1 (39)Total transactions with owners 0 0 0 0 0 3 0 (7,900) 0 0 0 0 (7,897) (84) (7,981)
Total comprehensive income 14,148 (4,094) 376 10,430 37 10,467
Transfer to/(from) Surplus Free Additional appropriation 550 (550) 0 0Trust reserve 29 (29) 0 0
0 0 0 0 0 579 0 (579) 0 0 0 0 0 0 0
Other AdjustmentsConsolidation of a new subsidiary 1 1 39 40
0 0 0 0 0 0 0 1 0 0 0 0 1 39 40
Balance at June 30, 2013 35,808P 5,150P -P -P 63,908P 2,836P -P 47,418P 3,547P 3,484)(P 1,116P 51)(P 156,248P 649P 156,897P
(Amounts in Millions of Pesos)
BDO UNIBANK, INC. & SUBSIDIARIESBDO Corporate Center, 7899 Makati Avenue, Makati City
STATEMENTS OF CHANGES IN EQUITYCOMPARATIVE PERIODS ENDED JUNE 30, 2014 AND 2013
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CURRENT 61 180 DAYS 181 - 360 DAYS OVER 360 DAYS ITEMS INLITIGATION
TOTAL
A. INTERBANK TERM LOANS RECEIVABLES P 35,376 P 0 P 0 P 0 P 0 P 35,376
B. LOANS AND RECEIVABLES P 1,000,699 P 4,762 P 2,550 P 7,412 P 3,173 P 1,018,596
Loans & Discounts 836,175 2,663 1,303 3,028 2,628 845,797 Agra-Agri Loans 34,655 20 0 20 0 34,695Bills Purchased 14,803 0 0 24 2 14,829Customers Liability on Draft under LC/TR 38,965 64 144 569 207 39,949
Customers Liability for this Bank's Acceptances 2,072 0 0 0 0 2,072Credit Card Receivables 29,593 1,872 1,024 1,334 205 34,028Restructured Loans 1 0 37 1,004 99 1,141Other Loans & Receivables 5,094 143 42 1,263 32 6,574Reverse Repurchase Agreement 33,508 0 0 0 0 33,508Unquoted Debt Securities Classified as Loans 5,833 0 0 170 0 6,003
C. ACCOUNTS RECEIVABLE P 5,536 P 430 P 222 P 901 P 4 P 7,093 TOTAL P 1,041,611 P 5,192 P 2,772 P 8,313 P 3,177 P 1,061,065
(Amounts in Millions of Pesos)
TYPE OF ACCOUNTS
BDO UNIBANK, INC. & SUBSIDIARIESBDO Corporate Center, 7899 Makati Avenue, Makati City
AGING OF LOANS AND ACCOUNTS RECEIVABLE As of June 30, 2014
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Annex A
NO. OF SHARES COMMON Outstanding Balance Average Number of Outstanding Balance Average Number of As of June of Common Shares Common Shares of Common Shares Common Shares
January 3,581 3,581February 3,581 3,581March 3,581 3,581
April 3,581 3,581May 3,581 3,581June 3,581 3,581 3,581 3,581
Weighted Average 3,581 3,581
Basic Earnings per share
Net profit attributable to shareholders of the Parent Bank 11,048 14,148Less: Dividends on preferred shares 339 340Net profit available to common shares 10,709 13,808Divided by the weighted average number of outstanding common shares 3,581 3,581
Basic Earnings per share 2.99 3.86
Diluted Earnings Per ShareNet profit attributable to shareholders of the Parent Bank 10,709 13,808Divided by the weighted average number of outstanding common shares: Weighted Average number of common shares 3,581 3,581 Potential common shares from assumed conversion of preferred shares 0 0 Potential common shares from assumed conversion of stock option plan 0 0 Total weighted average number of common shares after assumed conversion of convertible preferred shares 3,581 3,581
Diluted Earnings Per Share 2.99 3.86
Note: *Net profit attributable to shareholders of the Parent Bank is reduced by dividends on preferred shares as these
were not assumed to be converted. Potential common shares from assumed conversion of these preferred shares are anti-dilutive in 2014 and 2013.
2014 2013
BDO UNIBANK, INC. & SUBSIDIARIES7899, BDO Corporate Center, Makati Avenue, Makati City
COMPUTATION OF WEIGHTED NUMBER OF COMMON SHARES(Amounts in Millions of Pesos Except Per Share Data)
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BDO Unibank, Inc. & SubsidiariesBalances by Segment
As of June 30, 2014(Amounts in Millions of Pesos)
Commercial Banking Investment Banking Private Banking Thrift Banking Leasing & Finance Others Total Eliminations Group
Statement of IncomeTotal Interest Income
External 29,206 36 628 26 716 29 30,641 0 30,641Inter-Segment 100 2 2 0 0 3 107 (107) 0
29,306 38 630 26 716 32 30,748 (107) 30,641
Total Interest ExpenseExternal 5,657 0 117 19 171 0 5,964 0 5,964Inter-Segment 5 37 0 0 46 18 106 (106) 0
5,662 37 117 19 217 18 6,070 (106) 5,964
Net Interest Income 23,644 1 513 7 499 14 24,678 (1) 24,677
Other Operating IncomeInvestment Banking Fees 0 568 0 0 0 0 568 0 568Others 13,633 73 286 2 394 1,002 15,390 (1,673) 13,717
13,633 641 286 2 394 1,002 15,958 (1,673) 14,285
Other Operating ExpensesDepreciation and Amortization 1,246 27 21 6 223 10 1,533 0 1,533
Impairment Losses 2,502 0 0 0 50 1 2,553 0 2,553Others 21,175 390 475 28 263 439 22,770 (68) 22,702
24,923 417 496 34 536 450 26,856 (68) 26,788
Profit before Tax 12,354 225 303 (25) 357 566 13,780 (1,606) 12,174Tax Expense 796 82 69 7 108 57 1,119 0 1,119Net Profit 11,558 143 234 (32) 249 509 12,661 (1,606) 11,055
Statements of Financial PositionTotal Resources
Segment Assets 1,608,812 6,479 40,179 5,830 26,624 9,400 1,697,324 (19,873) 1,677,451Intangible Assets 1,034 101 18 0 42 2 1,197 0 1,197Deferred Tax Assets 6,029 (186) 68 3 (41) (12) 5,861 0 5,861
1,615,875 6,394 40,265 5,833 26,625 9,390 1,704,382 (19,873) 1,684,509Total Liabilities 1,457,518 3,500 34,666 4,913 22,019 2,364 1,524,980 (9,148) 1,515,832
Other Segment InformationCapital expenditures 1,811 11 19 43 492 9 2,385 0 2,385Investment in associate under
equity method 5,679 41 0 0 0 0 5,720 0 5,720Share in the Profit of associates 303 5 0 0 0 0 308 0 308
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BDO Unibank, Inc. & SubsidiariesBalances by Segment
As of June 30, 2013(Amounts in Millions of Pesos)
Commercial Banking Investment Banking Private Banking Leasing & Finance Others Total Eliminations Group
Statement of IncomeTotal Interest Income
External 25,857 41 419 636 38 26,991 0 26,991
Inter-Segment 140 1 1 0 6 148 (148) 025,997 42 420 636 44 27,139 (148) 26,991
Total Interest ExpenseExternal 6,961 1 53 113 0 7,128 0 7,128Inter-Segment 7 21 0 107 13 148 (148) 0
6,968 22 53 220 13 7,276 (148) 7,128
Net Interest Income 19,029 20 367 416 31 19,863 0 19,863
Other Operating IncomeInvestment Banking Fees 0 555 0 0 0 555 0 555Others 17,694 94 1,040 280 1,096 20,204 (475) 19,729
17,694 649 1,040 280 1,096 20,759 (475) 20,284
Other Operating ExpensesDepreciation and Amortization 1,158 1 20 143 10 1,332 0 1,332Impairment Losses 3,918 0 32 50 1 4,001 0 4,001Others 18,582 202 423 241 376 19,824 (67) 19,757
23,658 203 475 434 387 25,157 (67) 25,090
Profit before Tax 13,065 466 932 262 740 15,465 (408) 15,057Tax Expense 553 138 63 58 73 885 0 885Net Profit 12,512 328 869 204 667 14,580 (408) 14,172
Statements of Financial PositionTotal Resources
Segment Assets 1,279,284 5,196 25,625 21,302 11,753 1,343,160 (22,535) 1,320,625Intangible Assets 993 99 2 0 0 1,094 0 1,094Deferred Tax Assets 6,258 (34) 76 4 (20) 6,284 0 6,284
1,286,535 5,261 25,703 21,306 11,733 1,350,538 (22,535) 1,328,003Total Liabilities 1,139,801 2,869 19,870 16,713 2,212 1,181,465 (10,359) 1,171,106
Other Segment InformationCapital expenditures 1,542 45 7 504 1,201 3,299 0 3,299Investment in associate under
equity method 5,265 33 0 0 0 5,298 0 5,298Share in the Profit of associates 394 11 0 0 0 405 0 405