|
Statements of Cash Flows
| |
Years Ended December 31 |
| |
2007 |
2006 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
| Income before provision for income tax |
P182,404,818 |
P90,838,163 |
| Adjustments for: |
|
| Depreciation and amortization |
116,525,582 |
103,417,608 |
| Amortization of computer software |
31,467,117 |
23,422,918 |
Gains on disposal of bank premises,
furmiture, fixtures and equipment |
(3,713,438) |
(567,083) |
Gains on asset foreclosure and
dacion transactions
|
(2,276,534) |
(11,117,299) |
Gains on disposal of investment
properties
|
(694,769) |
(3,937,173) |
| Impairment loss on goodwill |
- |
5,000,000 |
| Gain on disposition of equity
investment |
- |
(1,980,051) |
| Changes in operating assets and liabilities: |
| Decrease (increase) in the amounts of: |
Financial assets at fair value
through profit and loss |
(687,658,434) |
1,822,262,379 |
|
Loans and receivables |
(3,183,766,746) |
(2,657,194,919) |
|
Other assets |
(275,017,458) |
265,354,220 |
| Increase (decrease) in the amounts of: |
|
Deposit liabilities |
6,055,013,412 |
4,019,024,984 |
Accrued taxes, interest and other
expenses |
39,488,363 |
(6,309,642) |
Cashier's checks and demand draft
payable |
(77,458,263) |
134,329,422 |
|
Other liabilities |
551,254,952 |
221,009,087 |
| Net cash generated from operations |
2,745,568,602 |
3,472,844,174 |
| Income taxes paid |
(147,495,339) |
(54,876,083) |
| Net cash provided by operating activities |
2,598,073,263 |
3,417,969,091 |
| CASH FLOWS FROM INVESTING ACTIVITIES |
Proceeds from sale of:
Available-for-sale (AFS) investments
Bank premises furniture, fixtures and
equipment
Investment properties
Equity investments |
9,074,609,624
5,491,539
64,199,394
- |
27,303,110,884
2,412,983
77,291,769
151,980.051 |
|
Proceeds from maturity of held-to-maturity (HTM) investments |
802,924,312 |
6,607,254,792 |
Acquisitions of:
AFS investments
HTM investments
Bank premises, furniture, fixtures and
equipment
Capitalized computer software |
(8,856,607,931)
(438,713,001)
(153,612,677)
(38,391,934) |
(29,581,743,863)
(5,022,820,375)
(74,492,141)
(11,457,102) |
| Net cash provided by (used in) investing activities |
459,899,326 |
(548,463,002) |
| CASH FLOWS FROM FINANCING ACTIVITIES |
| Proceeds from bills payable |
550,194,765,764 |
91,412,673,191 |
| Payments of bills payable |
(550,121,978,648) |
(90,248,960,305) |
| Increase (decrease) in outstanding acceptances |
(22,887,100) |
29,291,235 |
| Issuance of common stock |
1,500,000,000 |
- |
| Net cash provided by financing activities |
1,549,900,016 |
1,193,004,121 |
| NET INCREASE IN CASH AND CASH EQUIVALENTS |
4,607,872,605 |
4,062,510,210 |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |
| Cash and other cash items |
816,819,931 |
596,978,313 |
| Due from Bangko Sentral ng Pilipinas (BSP) |
3,804,271,284 |
1,520,928,079 |
| Due from other banks |
633,083,728 |
773,758,341 |
| Interbank loans receivable and securities purchased under resale agreement |
3,000,000,000 |
1,300,000,000 |
| |
8,254,174,943 |
4,191,664,733 |
| CASH AND CASH EQUIVALENTS AT END OF YEAR |
| Cash and other cash items |
1,388,731,710 |
816,819,931 |
| Due from BSP |
4,236,218,248 |
3,804,271,284 |
| Due from other banks |
855,513,590 |
633,083,728 |
| Interbank loans receivable and securities purchased under resale agreement |
6,381,584,000 |
3,000,000,000 |
| |
P 12,862,047,548 |
P 8,254,174,943 |
|
NET OPERATIONAL CASH FLOWS FROM INTEREST AND DIVIDENDS |
| Interest received |
P 2,437,110,347 |
2,315,282,484 |
| Interest paid |
1,109,898,886 |
1,213,657,800 |
| Dividend received |
119,294 |
15,749,432 |
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