PHILIPPINE FOREIGN CURRENCY DEPOSIT SYSTEM          
As of Dates Indicated          
 (In US$ Millions)           
                   
          End-December   Increase/(Decrease)
          2009 2010   Amount %
IN US$ MILLION          
    BALANCE SHEET          
      TOTAL ASSETS 1            26,549.042            29,689.174              3,140.132                   11.83
        CASH AND DUE FROM BANKS              2,873.423              3,394.653                 521.230                   18.14
        FINANCIAL ASSETS, GROSS            12,611.813            15,963.951              3,352.138                   26.58
            ALLOWANCE FOR CREDIT LOSSES                 199.263                 180.582                 (18.681)                   (9.38)
        ACCUMULATED MARKET GAINS/LOSSES                 109.509                   34.004                 (75.505)                 (68.95)
        FINANCIAL ASSETS, NET            12,522.060            15,817.374              3,295.314                   26.32
        INTERBANK LOANS RECEIVABLE (IBL), NET              5,448.254              3,846.873            (1,601.380)                 (29.39)
        LOANS, GROSS (EXCLUSIVE OF IBL)              5,331.984              6,091.118                 759.134                   14.24
            ALLOWANCE FOR PROBABLE LOSSES 2                 127.702                 142.096                   14.394                   11.27
        LOANS, NET (EXCLUSIVE OF IBL)              5,204.281              5,949.022                 744.741                   14.31
        EQUITY INVESTMENTS, NET          
        ROPA, NET                     6.902                     0.090                   (6.813)                 (98.70)
        OTHER ASSETS, NET                 494.122                 681.162                 187.040                   37.85
      TOTAL LIABILITIES            25,611.944            28,564.459              2,952.515                   11.53
        FINANCIAL LIABILITIES HELD FOR TRADING                   92.250                   78.565                 (13.686)                 (14.84)
        FINANCIAL LIABILITIES DFVPL                           -                             -                            -                          -  
        DEPOSIT LIABILITIES            22,618.098            24,947.729              2,329.631                   10.30
        DUE TO OTHER BANKS                 513.746                 619.225                 105.479                   20.53
        BILLS PAYABLE                 671.190              1,433.950                 762.759                 113.64
        BONDS PAYABLE, NET                 126.322                 548.156                 421.834                 333.94
        UNSECURED SUBORDINATED DEBT, NET                 158.400                 150.000                   (8.400)                   (5.30)
        OTHER LIABILITIES                 240.931                 275.170                   34.239                   14.21
        DUE TO HO/Br./AGENCIES/FCDU/RBU, NET 3              1,191.006                 511.665               (679.341)                 (57.04)
      TOTAL CAPITAL ACCOUNTS 4                 937.097              1,124.715                 187.617                   20.02
    INCOME STATEMENT 5          
      Total Operating Income                 993.326              1,184.338                 191.012                   19.23
        Net Interest Income                 629.797                 665.340                   35.543                     5.64
        Non-interest Income                 363.529                 518.998                 155.469                   42.77
      Non-Interest Expenses                 107.191                 122.197                   15.006                   14.00
      Losses/Recoveries on Financial Assets                 (81.879)                 (12.157)                   69.722                 (85.15)
        Bad Debts/Provision for Credit Losses                 (82.952)                 (15.666)                   67.286                 (81.11)
        Recovery on Charged-Off Assets                     1.073                     3.509                     2.436                 226.99
      Net Profit Before Share in the Profit/(Loss) of                 804.256              1,049.984                 245.728                   30.55
      unconsolidated Subs., Associates & Joint Ventures  
      Share in the Profit/(Loss) of Unconsolidated          
      Subsidiaries, Associates & Joint Ventures          
      Total Profit/Loss Before Tax & Before Minority Interest                 804.256              1,049.984                 245.728                   30.55
      Income Tax Expense                   12.454                   15.216                     2.762                   22.18
      Total Profit/Loss After Tax & Before Minority Interest                 791.802              1,034.767                 242.965                   30.69
      Minority Interest in Profit/(Loss) of Subsidiaries          
      Net Profit or Loss                  791.802              1,034.767                 242.965                   30.69
                   
Selected Ratios          
    Liquidity           
      Liquid Assets to Deposits 6 (excl. of ROPs)                     39.91                     47.67      
      Liquid Assets to Deposits 6 (incl. of ROPs)                     68.07                     77.01      
      Loans, gross to Deposits                     47.78                     39.84      
    Asset Quality          
      Non-Performing Loans (NPL) Ratio 7  8                       1.99                       0.72      
      NPL Coverage Ratio 7  8                   133.44                   276.31      
      Non-Performing Assets (NPA) to Gross Assets 7                       0.42                       0.15      
      NPA Coverage Ratio 7                   125.22                   275.26      
    Profitability           
      Cost to Income Ratio 5                     10.79                     10.32      
      Return on Assets (ROA) 5                       3.14                       3.68      
      Net Interest Margin 5                       2.54                       2.42      
                   
1 Adjusted to net off the account "Due from Head Office" with "Due to Head Office" of branches of foreign banks        
2 Inclusive of General Loan Loss Provision          
3 Net of Due from Head Office/Branches/Agencies (Philippine branches of foreign banks) and Due from FCDU/RBU      
4 Revised based on the Financial Reporting Package (FRP) data          
5 Annualized          
6 Liquid assets refers to Cash and Due from Banks plus Financial Assets, net of amortization (net of financial assets in equity securities and allowance for credit losses)
7 Exclusive of IBL          
8 Circular 351 definition