21 Balance Sheet                      
                         
                         
  Universal Bank Group                      
  as of end of periods indicated                      
  amounts in thousand Pesos                      
                         
   
  Selected Accounts Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08  
   
  TOTAL ASSETS  3,691,699,573.88 3,724,544,650.17 3,786,744,240.62 3,916,708,764.38 3,786,232,666.39 3,877,138,071.12 3,949,685,283.36 4,027,560,427.52 4,120,121,438.91 4,260,565,639.49  
  CASH AND DUE FROM BANKS 552,230,097.01 542,231,117.78 539,284,148.09 591,796,090.48 514,392,163.04 554,209,052.07 615,751,262.22 618,661,849.31 574,054,421.89 656,245,113.12  
  TLP (INCLUSIVE OF IBL AND RRPs) , NET  1,647,220,104.32 1,733,314,615.34 1,786,881,976.62 1,838,645,691.68 1,802,875,311.04 1,814,956,895.18 1,811,442,064.10 1,850,669,907.07 1,964,598,487.48 2,003,160,768.85  
  Total Loan Portfolio (TLP), gross  1,733,944,764.43 1,819,782,296.45 1,874,081,265.64 1,929,010,032.71 1,893,234,046.04 1,905,269,334.36 1,901,087,021.82 1,941,592,888.51 2,055,059,056.39 2,094,083,585.48  
  (a) Interbank Loans Receivable (IBL) 172,472,011.38 214,529,252.76 248,163,747.29 228,660,857.22 202,236,708.90 203,659,832.77 168,436,263.24 177,481,009.79 152,701,888.22 143,407,297.07  
  (b) Total Reverse Repurchase (RRPs) 143,171,971.86 174,540,946.58 180,656,989.16 208,255,011.85 167,366,773.94 135,551,135.11 111,454,030.10 102,487,030.10 195,951,530.10 158,141,030.10  
  of which:  
  Reverse Repurchase (RRPs) with BSP 132,693,030.10 150,635,030.10 154,309,030.10 187,034,030.10 146,725,030.10 112,857,030.10 111,454,030.10 94,187,030.10 177,125,030.10 154,121,030.10  
  Reverse Repurchase (RRPs) with Other Banks 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 0.00 0.00 4,500.00 0.00  
  (c) Loans and Receivable - Others, net of amortization 1,418,300,781.19 1,430,712,097.11 1,445,260,529.19 1,492,094,163.64 1,523,630,563.20 1,566,058,366.47 1,621,196,728.47 1,661,624,848.61 1,706,405,638.07 1,792,535,258.31  
  Allowance for Credit Losses  86,724,660.11 86,467,681.11 87,199,289.02 90,364,341.04 90,358,735.00 90,312,439.18 89,644,957.72 90,922,981.43 90,460,568.91 90,922,816.63  
  TLP, gross (exclusive of IBL) 1,561,472,753.05 1,605,253,043.69 1,625,917,518.35 1,700,349,175.50 1,690,997,337.14 1,701,609,501.58 1,732,650,758.57 1,764,111,878.71 1,902,357,168.17 1,950,676,288.41  
  TLP, gross (exclusive of IBL and RRP with BSP and Other Banks) 1,428,279,722.95 1,454,118,013.59 1,471,108,488.26 1,512,815,145.40 1,543,772,307.04 1,588,252,471.49 1,621,196,728.48 1,669,924,848.61 1,725,227,638.07 1,796,555,258.31  
  TOTAL INVESTMENTS, NET 1,081,090,139.75 1,039,031,179.46 1,048,335,976.67 1,066,095,023.60 1,054,871,664.70 1,105,793,699.12 1,112,465,617.50 1,128,760,320.33 1,133,900,910.61 1,196,269,921.91  
  (A) Financial Assets, net (Portfolio Investments) 969,961,731.73 927,520,058.13 937,299,361.55 957,079,209.46 946,258,804.82 997,458,327.33 1,002,516,143.22 1,025,812,769.49 1,033,291,242.99 1,095,002,178.69  
  Financial Assets, gross (net of amortization) 974,338,398.30 944,977,837.01 962,948,903.98 996,302,581.20 978,924,620.93 1,019,523,362.97 1,040,349,221.44 1,078,140,883.46 1,079,469,144.60 1,126,417,306.27  
  (1) Financial Assets Held for Trading (HFT) 150,005,725.08 110,771,158.62 103,384,326.72 110,309,232.78 108,415,044.22 114,504,674.69 126,750,655.70 113,026,276.23 103,235,398.21 165,029,636.13  
  (2) Financial Assets DFVPL 14,976,915.81 13,445,006.55 10,397,486.65 11,184,777.71 12,038,206.28 13,317,449.98 13,873,689.51 11,270,263.45 11,379,659.30 11,035,223.58  
  (3) Available-for-Sale (AFS) Financial Assets 581,778,885.57 593,545,785.20 620,037,736.31 640,270,951.90 620,140,988.93 632,781,801.88 621,505,763.57 444,410,950.19 423,196,526.50 405,434,850.84  
  (4) Held-to-Maturity (HTM) Financial Assets 154,488,812.16 154,123,585.10 155,406,275.56 160,500,802.06 163,702,196.37 177,651,558.34 189,419,684.33 360,293,540.38 392,720,710.46 395,195,954.97  
  (5) Unquoted Debt Securities Classified as Loans 65,871,102.15 65,875,334.39 66,516,296.22 66,837,210.99 67,115,008.90 73,743,929.41 80,528,082.12 140,588,188.69 140,394,357.97 141,186,092.44  
  (6) Investments in Non-Marketable Equity Securities 7,216,957.51 7,216,967.16 7,206,782.51 7,199,605.77 7,513,176.23 7,523,948.67 8,271,346.22 8,551,664.52 8,542,492.17 8,535,548.30  
  Accumulated Market Gains/Losses  6,289,444.73 (6,825,353.47) (14,357,107.44) (28,322,941.42) (21,761,272.76) (11,114,595.85) (20,317,736.07) (34,489,775.69) (27,325,177.65) (11,755,733.68)  
  Allowance for Credit Losses  10,666,111.30 10,632,425.42 11,292,434.99 10,900,430.32 10,904,543.35 10,950,439.79 17,515,342.15 17,838,338.28 18,852,723.96 19,659,393.90  
  (B) Equity Investment in Subsidiaries/Associates/Joint Ventures, net (Direct Investments) 111,128,408.02 111,511,121.33 111,036,615.12 109,015,814.14 108,612,859.88 108,335,371.79 109,949,474.29 102,947,550.84 100,609,667.62 101,267,743.22  
  ROPA, NET 125,345,089.64 123,746,002.62 121,821,332.33 120,729,558.41 120,538,378.96 119,870,965.68 117,816,592.07 117,618,355.20 116,430,138.87 116,301,472.49  
  Real and Other Properties Acquired (ROPA), gross 149,834,334.19 147,699,838.60 145,897,693.74 144,938,859.27 144,585,619.66 144,127,235.77 143,443,276.89 143,339,742.94 142,231,145.79 143,271,273.22  
  of which:  
  (1) Sales Contract Receivables, Gross 14,788,707.62 14,916,846.34 15,003,226.75 14,255,073.23 14,400,923.38 14,415,266.00 14,335,766.72 14,265,298.27 14,726,440.97 15,272,406.76  
  (a) Performing 9,910,114.00 9,899,644.45 9,998,300.87 10,318,435.96 8,276,547.82 9,749,571.80 10,653,977.00 10,590,262.32 11,126,715.05 10,847,713.90  
  (b) Non-Performing 4,878,593.63 5,017,201.90 5,004,925.88 3,936,637.27 6,124,375.55 4,665,694.20 3,681,789.72 3,675,035.95 3,599,725.91 4,424,692.86  
  Sales Contract Receivables, Net 14,443,848.02 14,802,222.03 14,888,912.07 14,137,415.44 14,286,690.17 14,301,773.74 14,224,175.09 14,159,759.06 14,619,740.84 15,149,008.08  
  (2) Non-Current Assets Held for Sale, Gross 12,133,705.22 12,089,799.29 11,698,845.94 11,527,255.95 11,885,911.49 11,970,609.78 13,421,746.30 13,299,697.00 13,203,030.67 13,961,740.46  
  Non-Current Assets Held for Sale, net 12,133,705.22 12,089,799.29 11,698,845.94 11,527,255.95 11,885,911.49 11,970,609.78 12,136,428.67 12,014,379.37 9,803,817.60 10,562,527.39  
  Unamortized Discount and Other Deferred Credits 12,722.65 18,705.36 18,606.85 19,100.91 16,522.17 16,972.33 15,518.90 14,973.43 16,665.29 16,865.12  
  Accummulated Depreciation 13,214,779.92 12,883,910.20 12,920,678.79 12,974,150.86 12,644,947.30 12,640,952.98 12,564,493.07 12,545,180.06 12,583,432.47 12,516,649.67  
  Allowance for Losses 11,261,741.98 11,051,220.43 11,137,075.76 11,216,049.09 11,385,771.23 11,598,344.78 13,046,672.85 13,161,234.25 13,200,909.16 14,436,285.95  
  OTHER ASSETS 285,814,143.16 286,221,734.97 290,420,806.90 299,442,400.21 293,555,148.65 282,307,459.07 292,209,747.47 311,849,995.61 331,137,480.05 288,588,363.13  
  LIABILITIES AND CAPITAL  
  LIABILITIES 3,274,099,733.37 3,316,985,560.38 3,385,960,570.07 3,530,941,558.38 3,392,460,188.93 3,473,711,259.32 3,548,590,688.53 3,647,123,185.80 3,733,872,703.30 3,853,137,643.34  
  FINANCIAL LIABILITIES HFT 26,303,290.27 23,098,446.59 33,712,376.99 39,713,150.58 28,974,008.79 33,500,932.93 34,010,992.62 38,686,546.24 32,585,218.98 29,125,492.14  
  FINANCIAL LIABILITIES DFVPL 10,016,455.10 5,067,991.58 5,227,416.77 11,032,474.81 11,065,492.71 11,564,210.01 10,743,684.12 10,821,197.17 10,787,048.28 10,962,463.65  
  DEPOSIT LIABILITIES 2,627,123,745.86 2,677,723,962.32 2,705,758,986.04 2,796,036,041.74 2,781,329,056.13 2,825,867,152.60 2,928,432,675.66 2,992,564,932.97 3,074,222,382.84 3,183,695,395.42  
  Peso Liabilities 2,031,783,895.84 2,036,039,216.56 2,042,412,975.04 2,099,863,392.08 2,076,097,637.64 2,103,775,610.98 2,196,458,796.44 2,239,118,840.47 2,326,582,834.90 2,428,258,346.19  
  Demand and NOW 466,587,820.00 463,944,961.70 469,530,780.36 485,248,290.55 494,733,371.29 497,853,485.45 509,097,239.08 517,357,969.74 528,774,426.17 532,951,154.01  
  Savings 1,104,072,958.54 1,107,982,423.34 1,102,086,741.11 1,038,237,980.76 1,025,833,715.38 1,011,542,020.25 1,042,935,953.86 1,068,658,110.03 1,113,023,255.93 1,163,455,987.36  
  Time 445,024,977.40 448,065,904.68 454,782,204.74 559,946,966.03 539,075,304.31 572,945,079.96 622,999,074.87 631,511,314.72 663,174,789.12 710,240,044.28  
  LTNCD 16,098,139.91 16,045,926.85 16,013,248.83 16,430,154.75 16,455,246.67 21,435,025.33 21,426,528.63 21,591,445.98 21,610,363.68 21,611,160.54  
  Foreign Currency 595,339,850.01 641,684,745.76 663,346,010.99 696,172,649.66 705,231,418.48 722,091,541.62 731,973,879.22 753,446,092.50 747,639,547.94 755,437,049.23  
  Demand and NOW 6,600,108.15 7,113,498.72 7,454,681.44 7,836,957.75 6,620,247.55 7,139,457.85 8,164,303.60 7,416,291.56 9,783,685.17 7,712,513.40  
  Savings 184,256,778.96 193,010,545.97 207,094,352.60 225,150,898.68 235,679,827.38 230,922,626.81 237,009,041.43 248,497,907.08 242,262,702.46 240,514,779.15  
  Time 404,482,962.90 441,560,701.07 448,796,976.95 463,184,793.23 462,931,343.55 484,029,456.96 486,800,534.19 497,531,893.85 495,593,160.31 507,209,756.69  
  LTNCD 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00  
  DUE TO BANKS/OTHERS 12,981,609.23 16,077,436.50 27,271,927.54 17,099,443.13 14,845,975.96 34,952,211.53 14,594,781.86 23,847,177.24 37,206,664.97 19,740,147.70  
  BILLS PAYABLE 310,183,564.24 313,529,270.60 317,421,509.31 366,744,516.21 270,377,617.38 273,128,139.88 264,492,178.57 292,676,954.85 266,462,888.11 277,418,919.49  
  BONDS PAYABLE 10,042,525.17 10,164,581.43 10,522,059.46 10,799,143.14 10,619,404.27 11,047,178.24 11,318,812.54 6,182,198.68 6,184,725.12 6,002,821.44  
  UNSECURED SUBORDINATED DEBT, NET 79,829,848.80 80,150,052.10 90,972,727.67 82,150,778.72 74,759,212.80 75,622,410.32 82,505,224.94 88,522,713.38 88,484,785.44 86,830,458.54  
  REDEEMABLE PREFERRED SHARES 2,088,100.00 3,169,974.41 2,187,600.00 2,245,100.00 2,207,600.00 2,296,350.00 2,352,600.00 2,447,100.00 2,448,100.00 2,376,100.00  
  DERIVATIVES WITH NEGATIVE FAIR VALUE HELD FOR HEDGING 357,004.68 339,185.95 357,380.37 376,784.78 435,877.22 349,948.82 450,480.28 756,326.33 419,037.33 760,911.64  
  OTHER LIABILITIES 195,173,590.01 187,664,658.90 192,528,585.91 204,744,125.26 197,845,943.69 205,382,724.97 199,689,257.93 190,618,038.94 215,071,852.23 236,224,933.32  
  TOTAL CAPITAL ACCOUNTS  417,599,840.51 407,559,089.78 400,783,670.55 385,767,206.00 393,772,477.46 403,426,811.80 401,094,594.83 380,437,241.71 386,248,735.61 407,427,996.15  
  Capital Stock 208,338,569.72 208,339,637.29 208,371,619.33 215,818,245.49 219,781,651.88 219,785,349.63 225,602,570.31 226,402,668.31 226,403,265.28 226,403,265.19  
  Retained Earnings & Undivided Profits 160,795,472.41 162,366,872.15 163,179,358.35 154,722,830.22 153,011,568.67 151,908,309.27 150,204,910.89 147,860,989.27 149,213,228.41 155,064,322.55  
  Other Comprehensive Income 8,272,374.48 (5,365,732.23) (13,503,335.42) (27,913,716.77) (21,896,061.24) (11,765,450.73) (20,146,530.08) (39,873,499.47) (35,421,864.62) (19,588,046.81)  
  Appraisal Increment Reserves 1,464,195.18 1,464,195.18 1,460,457.98 1,460,457.98 1,459,289.13 1,459,289.13 1,459,289.13 1,409,061.66 1,409,061.66 1,409,061.66  
  Other Capital 38,729,228.72 40,754,117.39 41,275,570.31 41,679,389.08 41,416,029.01 42,039,314.49 43,974,354.59 44,638,021.95 44,645,044.88 44,139,393.56