|
| Statements of Income |
| |
Years Ended December 31 |
| |
2007 |
2006 |
| INTEREST INCOME |
| Loans and receivables |
P 1,746,955,331 |
P 1,593,593,573 |
| Trading and investment securities |
579,033,180 |
482,698,467 |
| Due from other banks and interbank loans receivable and securities purchased under resale agreement |
152,457,250 |
64,627,800 |
| |
2,478,445,761 |
2,140,919,840 |
| INTEREST EXPENSE |
| Deposit liabilities |
986,655,197 |
1,165,565,025 |
| Other borrowings |
123,411,915 |
35,419,733 |
| |
1,110,067,112 |
1,200,984,758 |
| NET INTEREST INCOME |
1,368,378,649 |
939,935,082 |
| Service charges, fees and commissions |
390,481,779 |
235,620,053 |
| Foreign exchange gain -net |
57,480,687 |
9,643,990 |
| Trust income |
56,946,404 |
31,210,774 |
| Gains on asset foreclosure and dacion transactions |
2,276,534 |
11,117,299 |
| Dividend income |
119,294 |
15,749,432 |
| Trading and securities gains (losses) -net |
(14,638,902) |
154,427,743 |
| Miscellaneous |
55,139,169 |
63,487,836 |
| TOTAL OPERATING INCOME |
1,916,183,614 |
1,461,192,209 |
| Compensation and fringe benefits |
532,362,974 |
403,360,353 |
| Taxes and licenses |
195,410,756 |
132,827,767 |
| Rent |
125,671,102 |
111,231,409 |
| Depreciation and amortization |
116,525,582 |
103,417,608 |
| Provision for impairment and credit losses |
100,935,044 |
101,920,984 |
| Transportation and traveling |
92,460,183 |
63,920,649 |
| Security, messengerial and janitorial services |
75,304,048 |
55,359,804 |
| Advertising |
65,877,704 |
30,283,206 |
| Insurance |
58,498,223 |
48,464,239 |
| Postage, telephone, cables and telegram |
42,918,249 |
30,379,834 |
| Power, light and water |
37,488,162 |
32,496,771 |
| Repairs and maintenance |
34,984,893 |
32,640,423 |
| Stationery and supplies |
33,666,017 |
25,025,897 |
| Litigation expenses |
33,471,488 |
44,166,741 |
| Amortization of computer software |
31,467,117 |
23,422,918 |
| Entertainment, amusement and recreation |
24,716,927 |
16,201,721 |
| Service, charges, fees and commissions |
23,128,253 |
18,326,893 |
| Brokerage fees |
6,566,223 |
7,525,457 |
| Management and other professional fees |
6,150,291 |
15,035,887 |
| Impairment loss on goodwill |
- |
5,000,000 |
| Miscellaneous |
96,175,560 |
69,345,485 |
| TOTAL OPERATING EXPENSE |
1,733,778,796 |
1,370,354,046 |
| INCOME BEFORE INCOME TAX PROVISION FOR (BENEFIT FROM) |
P 182,404,818 |
P 90,838,163 |
| INCOME TAX |
45,120,173 |
(36,437,523) |
| NET INCOME |
P137,284,645 |
P127,275,686 |
| EARNINGS PER SHARE |
| Basic |
P 0.70 |
P 5.87 |
| Diluted |
P 0.70 |
P 0.45 |
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