PHILIPPINE FOREIGN CURRENCY DEPOSIT SYSTEM
As of Dates Indicated
(In US$ Millions)
					End-December			Increase/(Decrease)
					2010	2011		Amount	%
IN US$ MILLION
		BALANCE SHEET
			TOTAL ASSETS 1		29,689.174	30,096.520		407.347	1.37
				CASH AND DUE FROM BANKS	3,394.653	3,449.412		54.759	1.61
				FINANCIAL ASSETS, GROSS	15,963.951	15,895.401		(68.550)	(0.43)
				ALLOWANCE FOR CREDIT LOSSES	180.582	94.915		(85.666)	(47.44)
				ACCUMULATED MARKET GAINS/LOSSES	34.004	152.402		118.398	348.18
				FINANCIAL ASSETS, NET	15,817.374	15,952.887		135.514	0.86
				INTERBANK LOANS RECEIVABLE (IBL), NET	3,846.873	2,640.805		(1,206.068)	(31.35)
				LOANS, GROSS (EXCLUSIVE OF IBL)	6,091.118	7,342.579		1,251.462	20.55
				ALLOWANCE FOR PROBABLE LOSSES 2	142.096	138.377		(3.719)	(2.62)
				LOANS, NET (EXCLUSIVE OF IBL)	5,949.022	7,204.202		1,255.180	21.10
				EQUITY INVESTMENTS, NET
				ROPA, NET	0.090	0.080		(0.010)	(11.11)
				OTHER ASSETS, NET	681.162	849.134		167.971	24.66
			TOTAL LIABILITIES		28,564.459	28,832.607		268.147	0.94
				FINANCIAL LIABILITIES HELD FOR TRADING	78.565	108.631		30.066	38.27
				FINANCIAL LIABILITIES DFVPL	-	-		-	-
				DEPOSIT LIABILITIES	24,947.729	24,201.784		(745.946)	(2.99)
				DUE TO OTHER BANKS	619.225	445.061		(174.164)	(28.13)
				BILLS PAYABLE	1,433.950	2,274.390		840.440	58.61
				BONDS PAYABLE, NET	548.156	846.338		298.182	54.40
				UNSECURED SUBORDINATED DEBT, NET	150.000	-		(150.000)	(100.00)
				OTHER LIABILITIES	275.170	275.062		(0.107)	(0.04)
				DUE TO HO/Br./AGENCIES/FCDU/RBU, NET 3	511.665	681.342		169.677	33.16
			TOTAL CAPITAL ACCOUNTS 4		1,124.715	1,263.914		139.199	12.38
		INCOME STATEMENT 5
			Total Operating Income		1,184.340	1,256.264		71.924	6.07
				Net Interest Income	665.344	721.717		56.373	8.47
				Non-interest Income	518.996	534.547		15.550	3.00
			Non-Interest Expenses		122.197	187.942		65.745	53.80
			Losses/Recoveries on Financial Assets		(12.157)	(28.681)		(16.523)	135.91
				Bad Debts/Provision for Credit Losses	(15.666)	(30.445)		(14.779)	94.34
				Recovery on Charged-Off Assets	3.509	1.764		(1.745)	(49.72)
			Net Profit Before Share in the Profit/(Loss) of		1,049.984	1,039.641		(10.343)	(0.99)
			unconsolidated Subs., Associates & Joint Ventures
			Share in the Profit/(Loss) of Unconsolidated
			Subsidiaries, Associates & Joint Ventures
			Total Profit/Loss Before Tax & Before Minority Interest		1,049.984	1,039.641		(10.343)	(0.99)
			Income Tax Expense		15.216	16.078		0.861	5.66
			Total Profit/Loss After Tax & Before Minority Interest		1,034.767	1,023.563		(11.204)	(1.08)
			Minority Interest in Profit/(Loss) of Subsidiaries
			Net Profit or Loss		1,034.767	1,023.563		(11.204)	(1.08)
Selected Ratios
		Liquidity
			Liquid Assets to Deposits 6 (excl. of ROPs)		47.67	49.34
			Liquid Assets to Deposits 6 (incl. of ROPs)		77.01	80.17
			Loans, gross to Deposits		39.84	41.25
		Asset Quality
			Non-Performing Loans (NPL) Ratio 7  8		0.72	0.47
			NPL Coverage Ratio 7  8		276.31	363.42
			Non-Performing Assets (NPA) to Gross Assets 7		0.15	0.11
			NPA Coverage Ratio 7		275.26	361.13
		Profitability
			Cost to Income Ratio 5		10.20	14.96
			Return on Assets (ROA) 5		3.68	3.42
			Net Interest Margin 5		2.42	2.48
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