Submitted by: Submitted by janinamaron
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Date Submitted: 10/10/2012 01:11 AM
BALANCE SHEET
Assets
Our total assets as of 31 December 2011 stood at
Php120.25 billion, 15.46% higher than the Php104.15 billion
the previous year. The growth was primarily due to the
expansion of our loan and investment portfolios.
Loans and Receivables, Net
Our loans and receivables grew 9.36% to Php58.19 billion as
the volume of our top loan products, Auto and Mortgage,
increased by 13.33% and 8.72%, respectively. This came even
with supply bottlenecks among Japanese carmakers and the
intense competition in the mortgage loan market that drove
down interest rates.
Securities and Investments
Held-to-maturity investments climbed by 34.39% to
Php12.31 billion as of 31 December 2011 compared to
year-ago level of Php9.16 billion as we accumulated longterm portfolio investments in government securities and
Republic of the Philippines (ROP) bonds. Our available-forsale investments were higher by 15.39% to Php18.69 billion.
Meanwhile, fair value through proit or loss investments was
lower by 93.69% at Php54.79 million.
There was a 49.20% increase in our investments in an
associate and joint venture to Php1.24 billion due to the
Php400.00 million additional investments in Sumisho Motor
Finance Corp. (SMFC) in August 2011. This represents our
40.00% stake in SMFC. Our 25.00% stake in Toyota Financial
Services Philippines Corp. (TFSPC) remained intact.
Property and equipment increased by 13.04% or
Php274.84 million to Php2.38 billion due to the expansion
of our ATM network, new branches, and renovation.
Goodwill and intangible assets increased by 6.02% to
Php255.18 million from Php240.68 million during the
period.
Capital
Capital funds increased by 33.87% to Php15.54 billion as
we beneitted from higher net income for the period.
We declared quarterly dividends of Php0.15 per quarter,
consistent with our dividend policy.
On 28 January 2011, we exercised the call option on our
Php2.00-billion unsecured...