2011 Annual Report Financial Supplements - BDO

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Reclassification of CLNs from AFS to Loans and Other ReceivablesUnrealized fair value losses in equity of CLNs linked to ROP bonds reclassified from AFS toLoans and Other Receivables at reclassification dates amounted to P627 and P624 in theBDO Unibank Group and Parent Bank financial statements, respectively, in 2008. Theeffective interest rates on reclassified investments range from 5.44% to 12.54%, 1.64% to12.55%, and 4.3% to 12.55% in the BDO Unibank Group financial statements, in 2011, 2010and 2009, respectively, and 5.44% to 12.54% in 2011 and 2.78% to 12.55% in 2010 and 1.1%to 12.55% in 2009 in the Parent Bank financial statements. Interest income recognized inprofit or loss on reclassified securities amounted to P178 and P254 in 2011 and 2010,respectively, in the BDO Unibank Group financial statements and P167 and P125 in 2011 and2010, respectively, in the Parent Bank financial statements.Additional unrealized fair value gain (losses) recognized in other comprehensive income in theperiod following the reclassification had the CLNs not been reclassified to Loans and OtherReceivables would have amounted to (P371), P444 and P643 in 2011, 2010 and 2009,respectively, in the BDO Unibank Group financial statements and (P371), P469 and P623 in2011, 2010 and 2009, respectively, in the Parent Bank financial statements. Additional tradinggain (loss) to be recognized in profit or loss had the embedded derivatives not beenreclassified totaled to (P208), P152 and P1,597 in 2011, 2010 and 2009, respectively, in theBDO Unibank Group financial statements and (P202), P148 and P1,274 in 2011, 2010 and2009, respectively, in the Parent Bank financial statements.In 2011, the BDO Unibank Group unwound the outstanding CLDs and CLNs with certainfinancial institutions amounting to P437 and P5,454, respectively. On the other hand, theParent Bank unwound the outstanding CLNs with certain financial institutions amounting toP5,009. The BDO Unibank Group and Parent Bank recognized loss amounting to P13 andP7, respectively, in the unwinding of CLNs and is presented as part of theTrading gain – net under Other Operating Income in the 2011 statement of income. Also,the unwinding of CLN by the Parent Bank resulted to reversal of net unrealized lossamounting to (P25) and is presented as part of Trading net under Other Operating Income inthe 2011 statement of income.After the reclassification, amortization of unrealized fair value losses on outstanding CLDsand CLNs previously recognized directly in the statements of comprehensive incomeamounted to P157 and P82 in 2011 and 2010, respectively, for the BDO Unibank Group andP157 and P98 in 2011 and 2010, respectively, for the Parent Bank.www.bdo.com.ph 95
NOTES TOFINANCIAL STATEMENTSDECEMBER 31, 2011, 2010 AND 2009(Amounts in Millions of Philippine Pesos, Except Per Share Data or As Indicated)10. LOANS AND OTHER RECEIVABLESThis account consists of the following:BDO Unibank GroupParent BankNotes 2011 2010 2011 2010Receivables from customers:Loans and discounts 24 P 591,323 P 470,461 P 577,544 P 455,902Customers’ liabilitiesunder letters of creditand trust receipts 38,085 34,104 38,085 34,104Bills purchased 10,697 9,356 10,697 9,356Others 30,041 27,591 30,041 27,591670,146 541,512 656,367 526,953Allowance for impairment 14 ( 24,358) ( 23,507) ( 24,077) ( 23,276)645,788 518,005 632,290 503,677Other receivables:Interbank loans receivables 7,325 26,151 7,325 26,151UDSCL 9.04 8,452 13,386 8,452 12,505Accounts receivable 13, 24 7,628 6,002 6,171 6,861SPURRA 4,989 2,912 - -Sales contract receivables 2,347 2,107 2,259 1,954Others 67 95 - -30,808 50,653 24,207 47,471Allowance for impairment 14 ( 2,669) ( 2,637) ( 2,640) ( 2,530)28,139 48,016 21,567 44,941P 673,927 P 566,021 P 653,857 P 548,618In 2011, to execute the deed of assignment made on January 13, 2008, the Parent Bank agreedto transfer, cede and convey absolutely to SM Keppel Land, Inc. (SM Keppel) the outstandingadvances totaling P364 recognized as part of Accounts receivable under Loans and OtherReceivables in exchange for 36,401,500 preferred shares of SM Keppel for a subscriptionprice of P364 (see Note 13.01).Included in the total loan portfolio are non-performing loans, net of accounts in the losscategory and fully provided with allowance (excluded under BSP Circular 351), as follows:BDO Unibank Group Parent Bank2011 2010 2011 2010Non–performing loans P 25,332 P 24,937 P 24,909 P 24,400Loss category loans,fully provided with allowance* ( 11,919) ( 6,087) ( 11,839) ( 5,973)P 13,413 P 18,850 P 13,070 P 18,427* Loans classified as loss and fully provided with allowance as per latest applicable BSP Results ofExamination as of December 31, 2011 and 2010. The 2011 loans classified as loss is inclusive of theReceivable from SPV presented under Other Resources in the 2011 statement of financial position.
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REPORT OFINDEPENDENT AUDITORSReport
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STATEMENTS OFINCOMEFOR THE YEARS EN
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BALANCE AT JANUARY 1, 2009 P 23,020
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FOR THE YEARS ENDED DECEMBER 31, 20
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1.02 Approval of Financial Statemen
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(ii) Philippine Interpretation IFRI
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PFRS 7 (Amendment), Financial Instr
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(v)PFRS 9, Financial Instruments: C
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BDO Unibank Group accounts for its
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Regular purchases and sales of fina
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Subsequent to initial recognition,
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Certain derivatives may be designat
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NOTES TOFINANCIAL STATEMENTSDECEMBE
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COMPANY HEADQUARTERSBDO Unibank, In
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2011 Annual Report Financial Supplements - BDO

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