COVER SHEET - BDO · Taxes and licenses 1,067 903 508 456 Insurance 450 411 Advertising 541 580 Litigation/Assets Acquired 182 177 Miscellaneous 2,820 2,649 Total Other Operating

COVER SHEET

3 4 0 0 1S.E.C. Registration Number

B D O U N I B A N K , I N C .

(COMPANY'S FULL NAME)B D O C O R P O R A T E C E N T E R , 7 8 9 9

M A K A T I A V E N U E , M A K A T I C I T Y(BUSINESS ADDRESS: NO. STREET CITY/TOWN/PROVINCE)

RUBY A. CRUZContact Person Company Telephone Number

0 3 3 1 S E C 1 7 - Q Every last Friday of the month of MayMonth Day Form Type

Annual Meeting

Secondary License type, if applicable

C F DDept. Requiring this Doc. Amended Articles Number/Section

13,434 Total Amount of Borrowings

Domestic Foreign

To be Accomplished by SEC Personnel concerned

File Number LCU

Document I.D. Cashier

Stamps

856-7434/840-7000 loc 4575

Total No.of Stockholders

Remarks: Pls. Use black ink of scanning purposes

SECURITIES AND EXCHANGE COMMISSION

SEC FORM 17-Q

QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIESREGULATION CODE AND BRC RULES 17 (2) (b) THEREUNDER

4. Exact name of issuer as specified in its charter

5. Province, country or other jurisdiction of incorporation or organization

6. Industry Classification Code (For SEC Use Only)

7. Address of issuer's principal office Postal Code

8. Issuer's Telephone number, including area code

9. Former name, former address and former fiscal year, if changed since last report

10. Securities registered pursuant to Section 8 and 12 of the Code of Section 4 and 8of the RSA

Number of shares of Amount ofTitle of each class common stock outstanding Debt OutstandingCommon stock 2,607,437,907

11. Are any or all of the securities listed on a stock exchange?No. [ ]

If yes, state the name of such stock exchange and the class/es of securities listedtherein: Philippine Stock Exchange -Common Stock

12. Indicate by check mark whether the registrant:a. has filed all reports required to be filed by Section 17 of the Code and SRC Rule 17thereunder or Section 11 of the RSA and RSA 11 (a)-1 thereunder, and Section 26and 141 of the Corporations Code of the Philippines, during the preceding twelve (12)months or such shorter period the registrant was required to file such reports.

No. [ ]b. has been subject to such filing requirements for the last ninety (90) days

No. [ ]

1. For the quarter ended March 31, 2012.

2. Commission identification number 34001 3. BIR Tax Identification No. 000-708-174-000

BDO UNIBANK, INC.

Makati City, Philippines

BDO Corporate Center, 7899 Makati Avenue, Makati City

856-7434/840-7000 LOC 4575

NA

Yes [X]

Yes [X]

Yes [X]

SEC FORM 17-Q

I hereby certify that all the information set forth in the above report are true and correct

of my own knowledge.

LUCY CO DY (EVP Comptroller)Authorized Signatory

(PRINTED NAME & DESIGNATION)

REPUBLIC OF THE PHILIPPINES }CITY OF MAKATI } S.S.

Name CEI Date & Place Issued

Lucy Co Dy Passport - EB1933736 02.17.2011/ManilaCTC – 9866095

Notary Public

Doc. No. Page No. Book No.Series of

* To be signed by any of the following officers pursuant to a Board Resolution filed with the Commission1. Chief Operating Officer2. Chief Financial Officer3. Comptroller or Treasurer

SUBSCRIBED AND SWORN TO before me this ______________________ day of April,

2012, the above affiant exhibiting to me his/her described Competent Evidence of Identity (“CEI”):

02.29.2012/Mandaluyong City

SIGNATURES

Pursuant to the requirements of the Securities Regulation Code, the issuer has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Issuer........................................................................................................... BDO UNIBANK, INC.

Signature and Title................................................................................. LUCY CO DYEVP/COMPTROLLER

Date.......................................................................................................... April 26, 2012

Principal Financial /AccountingOfficer/Comptroller................................................................................ LUCY CO DY

Signature and Title................................................................................. EVP/COMPTROLLER

Date......................................................................................................... April 26, 2012

BDO UNIBANK, INC. & SUBSIDIARIES

CONDENSED STATEMENTS OF FINANCIAL POSITION(Amounts in Millions of Pesos)

Audited As of As of

March 31, 2012 December 31, 2011RESOURCES

CASH AND OTHER CASH ITEMS P 21,573 P 33,129DUE FROM BANGKO SENTRAL NG PILIPINAS 122,505 124,894DUE FROM OTHER BANKS 21,167 24,719INVESTMENT SECURITIES

At Fair Value Through Profit or Loss 6,529 4,823Available-for-Sale – net 111,979 89,925Held-to-Maturity – net 94,380 93,670

667,400 673,92715,681 15,690

INVESTMENT PROPERTIES 9,685 10,137EQUITY INVESTMENTS – net 4,146 4,187DEFERRED TAX ASSETS 5,414 5,485

15,654 16,763

TOTAL RESOURCES P 1,096,113 P 1,097,349

LIABILITIES AND CAPITAL FUNDS

DEPOSIT LIABILITIES P PDemand 44,061 48,499Savings 491,141 482,517Time 312,125 327,553 Total Deposit Liabilities 847,327 858,569

BILLS PAYABLE 64,978 59,474SUBORDINATED NOTES PAYABLE 38,427 38,255OTHER LIABILITIES 45,216 44,089

Total Liabilities 995,948 1,000,387

EQUITY

Attributable to Shareholders of the Parent Company 99,518 96,329Minority Interest 647 633 Total Equity 100,165 96,962

TOTAL LIABILITIES AND EQUITY P 1,096,113 P 1,097,349

CONTINGENT

Trust department accounts P 730,618 P 711,411Unused commercial letters of credit 34,450 33,391Outstanding guarantees issued 1,321 1,220Export L/Cs Confirmed 96 97Bills for collection 6,137 6,029Late deposits/payment received 1,887 2,208Spot Exchange Bought 10,219 7,828Spot Exchange Sold 6,199 4,457Forward Exchange Bought 193,312 151,892Forward Exchange Sold 216,480 188,610Interest Rate Swap Receivable 9,173 8,832Interest Rate Swap Payable 9,173 8,582Other Contingent Accounts 137,443 134,460

TOTAL CONTINGENT ACCOUNTS P 1,356,508 P 1,259,017

Note: This Financial Statement is in accordance with Philippine Financial Reporting Standards(PFRS)


LOANS AND OTHER RECEIVABLES–netBANK PREMISES, FURNITURE, FIXTURES AND EQUIPMENT – net

OTHER RESOURCES - net


CONDENSED STATEMENTS OF INCOME (Amounts in Millions of Pesos Except Per Share Data)

For the three-month For the three-monthPeriod ended Period ended

March 31, 2012 March 31, 2011

INTEREST INCOME ONLoans and Receivables P 10,051 P 8,783Investment Securities 2,627 2,701Due from Other Banks 246 645Others 69 167

Total Interest Income 12,993 12,296

INTEREST EXPENSE ONDeposit liabilities 3,441 2,976Bills Payable and Others 1,153 834

Total Interest Expense 4,594 3,810

NET INTEREST INCOME 8,399 8,486

IMPAIRMENT LOSSES 1,297 2,068

NET INTEREST INCOME AFTER IMPAIRMENT LOSSES 7,102 6,418

OTHER OPERATING INCOMEService Charges, Fees and Commissions 2,755 2,605Trading Gain – net 2,356 1,498Trust Fees 477 415Foreign Exchange Gain/(Loss) – net -285 201Miscellaneous – net 489 631

Total Other Operating Income 5,792 5,350

OTHER OPERATING EXPENSESEmployee Benefits 2,979 2,615Occupancy 1,100 1,048Taxes and licenses 1,067 903

508 456Insurance 450 411Advertising 541 580Litigation/Assets Acquired 182 177Miscellaneous 2,820 2,649

Total Other Operating Expenses 9,647 8,839

INCOME BEFORE TAX 3,247 2,929

TAX EXPENSE (INCOME) 423 469

NET INCOME AFTER TAX P 2,824 P 2,460

ATTRIBUTABLE TO:Equity holders of the parent P 2,810 P 2,444Minority Interest 14 16

P 2,824 P 2,460

AVERAGE COMMON STOCK 2,607 2,607

INCOME PER SHARE (See annex A)Basic 0.95 0.81Diluted 0.95 0.81



Security, Clerical, Messengerial and Janitorial


STATEMENTS OF COMPREHENSIVE INCOME(Amounts in Millions of Pesos)

NET PROFIT 2,824 2,460

OTHER COMPREHENSIVE INCOME(LOSS)

Net unrealized fair value gains(losses)on available-for-sale securities 726 (2,981)

Translation adjustment related to foreign operations (17) (8)

Other Comprehensive Income, net of tax 709 (2,989)

TOTAL COMPREHENSIVE INCOME(LOSS) 3,533 (529)

Attributable To:Shareholders of the Parent Bank 3,519 (475)Non-controlling Interest 14 (54)

3,533 (529)



For the three-month period ending March 31, 2012

For the three-month period ending March 31, 2011

BDO UNIBANK, INC. & SUBSIDIARIESCASH FLOW STATEMENTS

FOR THE PERIODS ENDED MARCH 31, 2012 AND 2011(Amounts in Millions of Pesos)

2012 2011

CASH FLOWS FROM OPERATING ACTIVITIESProfit before tax 3,247 2,929 Adjustments for:

Interest income (12,993) (12,296)Interest received 14,170 13,856 Interest expense 4,594 3,810 Interest paid (4,961) (4,216)Impairment losses 1,297 2,068 Depreciation and amortization 630 615 Fair value loss (gain) 688 305

Operating loss before changes in operatingresources and liabilities 6,672 7,071 Decrease (increase) in financial assets at fair value

through profit or loss (2,366) 1,238 Decrease (increase) in loans and other receivables 1,837 (18,746)Decrease (increase) in investment properties 377 298 Decrease (increase) in other resources 1,161 (217)Increase (decrease) in deposit liabilities (9,722) (35,147)Increase (decrease) in other liabilities 476 (599)

Cash generated from (used in) operations (1,565) (46,102)Cash paid for income tax (288) (281)

Net Cash From (Used in) Operating Activities (1,853) (46,383)

CASH FLOWS FROM INVESTING ACTIVITIESNet acquisitions of bank premises, furniture,

fixtures and equipment (522) (296)Net decrease (increase) in equity investment 41 93 Net decrease (increase) in held-to-maturity investments 744 5,067 Net decrease (increase) in available-for-sale financial assets (20,216) 5,933

Net Cash From (Used in) Investing Activities (19,953) 10,797

CASH FLOWS FROM FINANCING ACTIVITIESNet proceeds from (payments of) bills payable 5,039 (8,745)Dividends paid (330) (330)

Net Cash From (Used in) Financing Activities 4,709 (9,075)

NET INCREASE (DECREASE) IN CASHAND CASH EQUIVALENTS (17,097) (44,661)

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEARCash and other cash items 33,129 26,673

124,894 138,482 Due from other banks 24,719 21,777

182,742 186,932

CASH AND CASH EQUIVALENTS AT END OF THE PERIODCash and other cash items 21,573 18,203

122,505 106,415 Due from other banks 21,167 17,653 Interbank Call Loans 400 0

165,645 142,271

Due from Bangko Sentral ng Pilipinas

Due from Bangko Sentral ng Pilipinas


STATEMENT OF CHANGES IN EQUITYCOMPARATIVE PERIODS ENDED MARCH 31, 2012 AND 2011

(Amounts in Millions of Pesos)

Surplus Free Total Equity

Balance at January, 2012 P26,074 P5,000 P- P- P25,175 P1,696 P33,271 P4,360 P1,118 (P365) P96,329 P633 P96,962

Transactions with ownersCash Dividends (330) (330) (330)

Total transactions with owners 0 0 0 0 0 0 (330) 0 0 0 (330) 0 (330)

Total comprehensive income 2,810 726 (17) 3,519 14 3,533

Transfer to/(from) Surplus FreeAdditional appropriation 24 (24) 0 0

0 0 0 0 0 24 (24) 0 0 0 0 0 0

Balance at March 31, 2012 P26,074 P5,000 P- P- P25,175 P1,720 P35,727 P5,086 P1,118 (P382) P99,518 P647 P100,165

Balance at January, 2011 P26,074 P5,000 P- P- P25,175 P1,550 P25,737 P3,664 P1,165 (P356) P88,009 P723 P88,732

Transactions with ownersCash Dividends (330) (330) (330)Audit Adjustments 47 47 47

Total transactions with owners 0 0 0 0 0 0 (283) 0 0 0 (283) 0 (283)

Total comprehensive income 2,444 (2,911) (8) (475) (54) (529)

Transfer to/(from) Surplus FreeAdditional appropriation (10) 10 0 0 Revaluation increment on land and building sold 68 (47) 21 21

0 0 0 0 0 (10) 78 0 (47) 0 21 0 21

Balance at March 31, 2011 P26,074 P5,000 P- P- P25,175 P1,540 P27,976 P753 P1,118 (P364) P87,272 P669 P87,941


Common Stock

Preferred Stock

Common Stock

Options

Treasury Shares at Cost

Additional Paid-in Capital

Surplus Reserves

Net Unrealized Fair Value

Gain(Losses) on Available-for-

sale Securities

Revaluation Increment

Accumulated Translation Adjustment

Total Atributable to Shareholders of the Parent

Bank

Non-Controlling

Interest


AGING OF LOANS AND ACCOUNTS RECEIVABLEAs of March 31, 2012

(Amounts in Millions of Pesos)

TYPE OF ACCOUNTS CURRENT 61 – 180 DAYS 181 - 360 DAYS OVER 360 DAYS TOTAL

A. INTERBANK TERM LOANS RECEIVABLES P 8,096 P 0 P 0 P 0 P 0 P 8,096

B. LOANS AND RECEIVABLES P 658,358 P 4,609 P 6,094 P 14,879 P 3,599 P 687,539

Loans & Discounts 554,230 2,855 4,863 5,350 2,908 570,20621,771 4 0 0 0 21,775

Bills Purchases 11,528 0 0 25 2 11,555Customers Liability on draft under LC/TR 30,240 51 231 1,642 272 32,436Customers Liability for this bank's acceptances 1,996 0 0 0 0 1,996Credit Card Receivables 24,045 1,325 907 3,559 166 30,002Restructured Loans 45 75 54 3,061 222 3,457Other Loan & Receivables 4,860 299 39 1,072 29 6,299Reverse Repurchase Agreement 3,621 0 0 0 0 3,621Unquoted Debt Securities Classified as Loans 6,022 0 0 170 0 6,192

C. ACCOUNTS RECEIVABLE P 2,477 P 461 P 218 P 2,913 P 4 P 6,073 TOTAL P 668,931 P 5,070 P 6,312 P 17,792 P 3,603 P 701,708


ITEMS IN LITIGATION

Agra-Agri Loans

Annex A


COMPUTATION OF WEIGHTED NUMBER OF COMMON SHARES(Amounts in Millions of Pesos Except Per Share Data)

2012 2011NO. OF SHARES – COMMON Outstanding Balance Average Number of Outstanding Balance Average Number ofAs of March of Common Shares Common Shares of Common Shares Common Shares

January 2,607 2,607February 2,607 2,607March 2,607 2,607 2,607 2,607

Weighted Average 2,607 2,607

Basic Earnings per share

Net profit attributable to shareholders of the Parent Bank 2,810 2,444Less: Dividends on preferred shares 330 330Net profit available to common shares 2,480 2,114Divided by the weighted average number ofoutstanding common shares 2,607 2,607

Basic Earnings per share 0.95 0.81

Diluted Earnings Per ShareNet profit attributable to shareholders of the Parent Bank 2,480 2,114Divided by the weighted average number ofoutstanding common shares: Weighted Average number of common shares 2,607 2,607 Potential common shares from assumed conversion of preferred shares 0 0 Potential common shares from assumed conversion of stock option plan 0 0 Total weighted average number of common shares after assumed conversion of convertible preferred shares 2,607 2,607

Diluted Earnings Per Share 0.95 0.81

Note:

7899, BDO Corporate Center, Makati Avenue, Makati City

*Net profit attributable to shareholders of the Parent Bank is reduced by dividends on prferred shares as these were not assumed to be coverted. Potential common shares from assumed conversion of these prferred shares are anti-dilutive in 2012 and 2011.

Balances by SegmentAs of March 31, 2012(Amounts in Millions of Pesos)

Commercial Banking Investment Banking Private Banking Others Total Eliminations Group

Statement of IncomeTotal Interest Income

External 12,410 20 251 312 12,993 0 12,993 Inter-Segment 29 1 1 4 35 (35) 0

12,439 21 252 316 13,028 (35) 12,993

Total Interest ExpenseExternal 4,422 0 84 88 4,594 0 4,594 Inter-Segment 5 10 0 19 34 (34) 0

4,427 10 84 107 4,628 (34) 4,594

Net Interest Income 8,012 11 168 209 8,400 (1) 8,399

Other Operating IncomeInvestment Banking Fees 0 128 0 0 128 0 128 Others 5,107 28 137 514 5,786 (122) 5,664

5,107 156 137 514 5,914 (122) 5,792

Other Operating ExpensesDepreciation and Amortization 566 1 7 56 630 0 630 Impairment Losses 1,272 0 0 25 1,297 0 1,297 Others 8,497 74 169 300 9,040 (23) 9,017

10,335 75 176 381 10,967 (23) 10,944

Profit before Tax 2,784 92 129 342 3,347 (100) 3,247 Tax Expense 314 25 19 65 423 0 423 Net Profit 2,470 67 110 277 2,924 (100) 2,824

Statements of Financial PositionTotal Resources

Segment Assets 1,054,124 2,806 22,879 26,526 1,106,335 (16,101) 1,090,234 Intangible Assets 454 9 1 1 465 0 465 Deferred Tax Assets 5,567 (41) 4 (116) 5,414 0 5,414

1,060,145 2,774 22,884 26,411 1,112,214 (16,101) 1,096,113 Total Liabilities 966,209 1,055 17,722 15,352 1,000,338 (4,390) 995,948

Other Segment InformationCapital expenditures 456 3 17 69 545 0 545 Investment in associate under

equity method 4,636 68 0 0 4,704 0 4,704 Share in the Profit of associates 58 0 0 0 58 0 58

BDO Unibank, Inc. & Subsidiaries

Balances by SegmentAs of March 31, 2011(Amounts in Millions of Pesos)

Commercial Banking Investment Banking Private Banking Others Total Eliminations Group

Statement of IncomeTotal Interest Income

External 11,630 4 286 376 12,296 0 12,296 Inter-Segment 2 2 0 4 8 (8) 0

11,632 6 286 380 12,304 (8) 12,296

Total Interest ExpenseExternal 3,626 0 108 76 3,810 0 3,810 Inter-Segment 5 0 1 2 8 (8) 0

3,631 0 109 78 3,818 (8) 3,810

Net Interest Income 8,001 6 177 302 8,486 0 8,486

Other Operating IncomeInvestment Banking Fees 0 186 0 0 186 0 186 Others 4,721 75 159 363 5,318 (154) 5,164

4,721 261 159 363 5,504 (154) 5,350

Other Operating ExpensesDepreciation and Amortization 503 1 4 107 615 0 615 Impairment Losses 2,014 0 12 42 2,068 2,068 Others 7,735 66 151 287 8,239 (15) 8,224

10,252 67 167 436 10,922 (15) 10,907

Profit before Tax 2,470 200 169 229 3,068 (139) 2,929 Tax Expense 369 47 12 41 469 0 469 Net Profit 2,101 153 157 188 2,599 (139) 2,460

Statements of Financial PositionTotal Resources

Segment Assets 917,574 1,736 22,902 23,636 965,848 (16,785) 949,063 Intangible Assets 698 10 0 1 709 0 709 Deferred Tax Assets 5,689 (26) 28 (94) 5,597 0 5,597

923,961 1,720 22,930 23,543 972,154 (16,785) 955,369 Total Liabilities 840,630 408 18,326 17,133 876,497 (9,069) 867,428

Other Segment InformationCapital expenditures 420 0 4 66 490 0 490 Investment in associate under

equity method 3,764 68 0 0 3,832 0 3,832 Share in the Profit of associates 43 0 0 0 43 0 43

BDO Unibank, Inc. & Subsidiaries

Documents

COVER SHEET - BDO · Taxes and licenses 1,067 903 508 456 Insurance 450 411 Advertising 541 580 Litigation/Assets Acquired 182 177 Miscellaneous 2,820 2,649 Total Other Operating