PHILIPPINE FOREIGN CURRENCY DEPOSIT SYSTEM
Comparative Statement of Condition 1/
As of Dates Ended Indicated
(In US$ Million)
  June 2005 vs. 2004
  2004 2005 Inc./(Dec) % Change
       
       
ASSETS               19,123.5               21,223.7                           2,100.2 11.0
       
      Due from BSP                        9.0                      28.0                                19.0 211.6
      Due from Other Banks                 1,954.3                 1,845.3                            (109.0) (5.6)
      Interbank Loans                 3,872.0                 4,284.0                              412.0 10.6
      Loan Portfolio (net)                   3,332.0                 3,415.9                                84.0 2.5
      Investments (net)                                9,268.9               10,871.2                           1,602.3 17.3
      Other Assets                     687.3                    779.3                                92.0 13.4
       
LIABILITIES AND CAPITAL               19,123.5               21,223.7                           2,100.2 11.0
       
      Liabilities               18,913.4               20,920.4                           2,007.0 10.6
       
          Deposit Liabilities               14,554.5               15,728.4                           1,173.9 8.1
          Due to Local Banks                    344.7                 1,757.4                           1,412.7 409.8
          Due to HO/Br./Agencies Abroad (net)  2/                    831.3                    371.4                            (459.9) (55.3)
          Bills Payable                 2,400.6                 1,682.9                            (717.7) (29.9)
          Other Liabilities                    782.3                 1,380.3                              598.0 76.4
       
      Capital Accounts                    210.1                    303.3                                93.2 44.4
       
        Undivided Profits                    258.0                    305.2                                47.2 18.3
        Net Unreal. Gains/Losses                    (47.9)                      (1.9)                                46.0 96.0
1/  Totals may not add-up due to rounding off
2/  Net of Due From/To HO/Br./Agencies Abroad
PHILIPPINE FOREIGN CURRENCY DEPOSIT SYSTEM
Comparative Statement of Earnings and Expenses
As of Dates Ended Indicated
(In US$ Million)
  Jan - June 2004 Jan - June 2005     Increase/(Decrease)
  Amount %
LEVELS (US$ Million)      
       
      Total Operating Income                    305.7                    364.1                                58.4                19.1
       
          Net Interest Income                    210.5                    256.4                                45.9                21.8
       
               Interest Income                    385.7                    510.4                              124.8                32.4
               Less: Interest Expense                    175.1                    254.0                                78.9                45.0
          
          Non-Interest Income                      95.1                    107.7                                12.5                13.2
       
Commission, Fees & Other Charges                      17.8                      20.3                                  2.6                14.5
Foreign Exchange Profit / loss                      13.2                      (7.6)                              (20.7)            (157.4)
Profits (Losses) on Sale or Redemption
           of Investments
                     18.4                      27.6                                  9.2                49.9
Other Earnings                      45.8                      67.3                                21.5                46.9
       
     Operating Expenses                      57.4                      60.9                                  3.5                  6.1
       
Provision for Probable Losses                      23.4                      16.6                                (6.8)              (29.2)
Other Operating Expenses                      34.0                      44.4                                10.3                30.4
Salaries, Wages, Bonuses & Allow                        2.5                        5.2                                  2.7              108.1
Depreciation                        1.2                        0.6                                (0.7)              (54.2)
Other Expenses                      30.3                      38.6                                  8.3                27.2
       
Net Operating Income                    248.3                    303.2                                54.9                22.1
       
Provision for Income Tax                        5.4                        4.4                                (1.0)              (18.7)
       
NET INCOME AFTER TAX                    242.9                    298.8                                55.9                23.0
       
       
       
SELECTED RATIOS: 1/      
       
Return on Average  Assets 3.34% 3.19%  
Net Interest Margin 2.86% 3.22%  
       
         
1/ Annualized; first semester ratios based on second half of the previous year plus first half of the current year