Home | PDS Group - COVER SHEET · 2018. 4. 24. · BDO Corporate Center, 7899 Makati Avenue, Makati City 7. Address of issuer's principal office Postal Code 856-7434/840-7000 LOC

3 4 0 0 1

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

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

0 3 3 1 S E C 1 7 - Q

C F D

Dept. Requiring this Doc.

Total No.of Stockholders

To be Accomplished by SEC Personnel concerned

Remarks: Pls. Use black ink of scanning purposes

Stamps

Annual Meeting

Secondary License type, if applicable

Amended Articles Number/Section

12,612 Total Amount of Borrowings

Domestic Foreign

File Number LCU

Document I.D. Cashier

Contact Person Company Telephone Number

Every last Friday of the month of May

Month Day Form Type

COVER SHEET

S.E.C. Registration Number

(COMPANY'S FULL NAME)

(BUSINESS ADDRESS: NO. STREET CITY/TOWN/PROVINCE)

RHODA P. LAZARO 878-4520/840-7000 loc 4520

1. For the quarter ended March 31, 2018.

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

BDO UNIBANK, INC.

4. Exact name of issuer as specified in its charter

Makati City, Philippines

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

6. Industry Classification Code (For SEC Use Only)

BDO Corporate Center, 7899 Makati Avenue, Makati City

7. Address of issuer's principal office Postal Code

856-7434/840-7000 LOC 4575

8. Issuer's Telephone number, including area code

NA

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 8

of the RSA

Number of shares of Amount of

Title of each class common stock outstanding Debt Outstanding

Common stock 4,369,450,614

11. Are any or all of the securities listed on a stock exchange?

Yes [X] No. [ ]

If yes, state the name of such stock exchange and the class/es of securities listed

therein: 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 17

thereunder or Section 11 of the RSA and RSA 11 (a)-1 thereunder, and Section 26

and 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.

Yes [X] No. [ ]

b. has been subject to such filing requirements for the last ninety (90) days

Yes [X] No. [ ]

REGULATION CODE AND BRC RULES 17 (2) (b) THEREUNDER

SECURITIES AND EXCHANGE COMMISSION

SEC FORM 17-Q

QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIES

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.

REPUBLIC OF THE PHILIPPINES }

CITY OF MAKATI } S.S.

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

2018, the above affiant exhibiting to me his/her described Competent Evidence of Identity (“CEI”):

Name

Lucy Co Dy

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 Commission

1. Chief Operating Officer

2. Chief Financial Officer

3. Comptroller or Treasurer

Note: Original signed

LUCY CO DY (EVP Comptroller)

Authorized Signatory

(PRINTED NAME & DESIGNATION)

CEI Date & Place Issued

SSS No. – 03-4074342-5 Quezon City

CTC – 24603316 02.19.2018/Makati City

Notary Public

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 DY

EVP/COMPTROLLER

Date.......................................................................................................... April 23, 2018

Principal Financial /Accounting

Officer/Comptroller................................................................................ LUCY CO DY

Signature and Title.................................................................................

EVP/COMPTROLLER

Date......................................................................................................... April 23, 2018

Note: Original signed

Audited

As of As of

March 31, 2018 December 31, 2017

CASH AND OTHER CASH ITEMS P 41,400 P 45,006

DUE FROM BANGKO SENTRAL NG PILIPINAS 375,479 353,308

DUE FROM OTHER BANKS 45,832 51,479

INVESTMENT SECURITIES

At Fair Value Through Profit or Loss 23,440 14,710

Fair Value Through Other Comprehensive Income 112,981 121,019

Held-to-Collect – net 218,170 197,198

LOANS AND OTHER RECEIVABLES–net 1,886,394 1,791,786

BANK PREMISES, FURNITURE, FIXTURES AND EQUIPMENT – net 32,142 29,346

INVESTMENT PROPERTIES 18,234 18,040

EQUITY INVESTMENTS – net 4,714 4,790

DEFERRED TAX ASSETS 7,466 7,403

OTHER RESOURCES - net 31,337 34,019

TOTAL RESOURCES P 2,797,589 P 2,668,104

DEPOSIT LIABILITIES P P

Demand 141,695 134,931

Savings 1,444,410 1,409,256

Time 656,062 576,825

Total Deposit Liabilities 2,242,167 2,121,012

BILLS PAYABLE 141,243 130,484

SUBORDINATED NOTES PAYABLE 10,030 10,030

INSURANCE CONTRACT LIABILITIES 25,258 25,986

OTHER LIABILITIES 79,303 82,252

Total Liabilities 2,498,001 2,369,764

EQUITY

Attributable to Shareholders of the Parent Company 298,785 297,488

Non-Controlling Interest 803 852

Total Equity 299,588 298,340

TOTAL LIABILITIES AND EQUITY P 2,797,589 P 2,668,104

Trust department accounts P 1,030,358 P 1,046,158

Unused commercial letters of credit 53,855 47,553

Outstanding guarantees issued 7,334 20,221

Export L/Cs Confirmed 3,774 2,351

Bills for collection 7,272 5,125

Late deposits/payment received 2,713 1,436

Spot Exchange Bought 20,139 6,546

Spot Exchange Sold 23,013 14,054

Forward Exchange Bought 115,648 137,034

Forward Exchange Sold 127,573 128,650

Interest Rate Swap Receivable 17,006 16,481

Interest Rate Swap Payable 17,006 16,481

Other Contingent Accounts 324,448 321,089

TOTAL CONTINGENT ACCOUNTS P 1,750,139 P 1,763,179

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

LIABILITIES AND CAPITAL FUNDS

CONTINGENT

BDO UNIBANK, INC. & SUBSIDIARIES


CONDENSED STATEMENTS OF FINANCIAL POSITION

(Amounts in Millions of Pesos)

RESOURCES

For the three-month For the three-month

Period ended Period ended

March 31, 2018 March 31, 2017

INTEREST INCOME ON

Loans and Receivables P 25,153 P 19,866

Investment Securities 2,672 2,199

Due from Other Banks 404 533

Others 12 6

Total Interest Income 28,241 22,604

INTEREST EXPENSE ON

Deposit liabilities 4,960 3,432

Bills Payable and Others 1,111 729

Total Interest Expense 6,071 4,161

NET INTEREST INCOME 22,170 18,443

IMPAIRMENT LOSSES 1,800 1,423

NET INTEREST INCOME AFTER IMPAIRMENT LOSSES 20,370 17,020

OTHER OPERATING INCOME

Service Charges, Fees and Commissions 6,096 5,978

Trading Gain – net (1,009) 619

Trust Fees 831 795

Foreign Exchange Gain/(Loss) – net 1,033 780

Insurance Premuims 2,643 2,204

Miscellaneous – net 1,317 1,025

Total Other Operating Income 10,911 11,401

OTHER OPERATING EXPENSES

Employee Benefits 5,800 5,109

Occupancy 2,156 2,088

Taxes and licenses 2,909 1,994

Security, Clerical, Messengerial and Janitorial 860 790

Insurance 1,126 1,030

Advertising 808 824

Litigation/Assets Acquired 149 100

Policy Reserves 1,049 1,667

Insurance Benefits and Claims 457 343

Miscellaneous 7,812 6,916

Total Other Operating Expenses 23,126 20,861

NET INCOME BEORE INCOME TAX 8,155 7,560

TAX EXPENSE (INCOME) 2,290 1,722

NET INCOME AFTER TAX P 5,865 P 5,838

ATTRIBUTABLE TO:

Equity holders of the parent P 5,877 P 5,831

Non-Controlling Interest (12) 7

P 5,865 P 5,838

AVERAGE COMMON STOCK 4,369 4,180

INCOME PER SHARE (See annex A)

Basic 1.27 1.31

Diluted 1.27 1.31




CONDENSED STATEMENTS OF INCOME

(Amounts in Millions of Pesos Except Per Share Data)

For the three-month

period ending

March 31, 2018

For the three-month

period ending

March 31, 2017

NET PROFIT 5,865 5,838

OTHER COMPREHENSIVE INCOME(LOSS)

Net unrealized fair value gains(losses) on FVOCI 708 1,025

Translation adjustment related to foreign operations 40 (22)

Other Comprehensive Income, net of tax 748 1,003

Items that will not be reclassified to profit or loss:

Reversal of revaluation increment

Actuarial gains (losses) on remeasurement of retirement

benefit asset, net of tax 0 6

Remeasurement on Life Insurance Reserves 2,150 (212)

2,150 (206)

Share in other comprehensive income (loss) of associates

accounted for under equity method (1) (1)

Total Other Comprehensive Income, Net of Tax 2,897 796

TOTAL COMPREHENSIVE INCOME(LOSS) 8,762 6,634

Attributable To:

Shareholders of the Parent Bank 8,784 6,639

Non-controlling Interest (22) (5)8,762 6,634




STATEMENTS OF COMPREHENSIVE INCOME


Common

Stock

Preferred

Stock

Additional Paid-

in Capital

Surplus

Reserves

Other

ReservesSurplus Free

Net Unrealized

Fair Value

Gain(Losses) on

FVOCI

Accumulated

Actuarial

Gains/(Losses)

Revaluation

Increment

Remeasurement

on Life Insurance

Reserves

Accumulated

Translation

Adjustment

Accumulated

Share in Other

Comprehensive

Income(Loss)

of Associates

Total

Attributable to

Shareholders of

the Parent Bank

Non-

Controlling

Interest

Total Equity

Balance at January, 2018

As previously stated 43,690P 5,150P 122,966P 3,354P 11P 133,529P 3,991)(P 6,805)(P 1,008P 1,398)(P 21)(P 5)(P 297,488P 852P 298,340P

Effect of restatement due to addition of PFRS 9 38 (4,403) (1,511) 5,876)(P 5,876)(P

As restated 43,690 5,150 122,966 3,392 11 129,126 (5,502) (6,805) 1,008 (1,398) (21) (5) 291,612 852 292,464

Transactions with owners

Issuance of primary shares 5 36 41 41

Cash Dividends (1,650) (1,650) (26) (1,676)

Total transactions with owners 5 0 36 0 0 (1,650) 0 0 0 0 0 0 (1,609) (26) (1,635)

Total comprehensive income (loss) 5,877 718 0 2,150 40 (1) 8,784 (22) 8,762

Transfer to/(from) Surplus Free

Trust reserves 70 (70) 0 0

Reversal of appropriation during the year (200) 200 0 0

Additional appropriation 135 (135) 0 0

0 0 0 5 0 (5) 0 0 0 0 0 0 0 0 0

Other Adjustments

Change in ownership interest in subsidiaries (2) (2) (1) (3)

0 0 0 0 (2) 0 0 0 0 0 0 0 (2) (1) (3)

Balance at March 31, 2018 43,695P 5,150P 123,002P 3,397P 9P 133,348P 4,784)(P 6,805)(P 1,008P 752P 19P 6)(P 298,785P 803P 299,588P

Balance at January, 2017 36,500P 5,150P 70,127P 2,972P 12P 111,423P 3,919)(P 4,259)(P 1,008P 2,183)(P 13)(P 2)(P 216,816P 743P 217,559P

Transactions with owners

Issuance of primary shares 8 34 42 42

Stock rights offer 7,164 52,662 59,826 59,826

Cash Dividends (1,650) (1,650) (50) (1,700)

Total transactions with owners 7,172 0 52,696 0 0 (1,650) 0 0 0 0 0 0 58,218 (50) 58,168

Total comprehensive income 5,831 1,037 6 (212) (22) (1) 6,639 (5) 6,634

Transfer to/(from) Surplus Free

Trust reserve 66 (66) 0 0

Self Insurance 8 (8) 0 0

0 0 0 74 0 (74) 0 0 0 0 0 0 0 0 0

Other Adjustments

Change in ownership interest in subsidiaries 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Balance at March 31, 2017 43,672P 5,150P 122,823P 3,046P 12P 115,530P 2,882)(P 4,253)(P 1,008P 2,395)(P 35)(P 3)(P 281,673P 688P 282,361P



STATEMENTS OF CHANGES IN EQUITY

COMPARATIVE PERIODS ENDED MARCH 31, 2018 AND 2017


2018 2017

CASH FLOWS FROM OPERATING ACTIVITIES

Profit before tax 8,155 7,560

Adjustments for:

Interest income (28,241) (22,604)

Interest received 27,747 22,861

Interest expense 6,071 4,161

Interest paid (5,183) (4,109)

Impairment losses 1,800 1,423

Depreciation and amortization 1,294 1,323

Share in (profit)loss of associates (153) (142)

Fair value loss (gain) 1,114 (665)

Operating profit before changes in operating

resources and liabilities 12,604 9,808

Decrease (increase) in financial assets at fair value

through profit or loss (12,944) (1,274)

Decrease (increase) in loans and other receivables (68,707) (40,846)

Decrease (increase) in investment properties (399) (300)

Decrease (increase) in other resources 842 (1,594)

Increase (decrease) in deposit liabilities 120,421 22,689

Increase (decrease) in insurance contract liabilities 1,422 1,797

Increase (decrease) in other liabilities (979) 1,625

Cash generated from (used in) operations 52,260 (8,095)

Cash paid for income tax (2,554) (1,981)

Net Cash From (Used in) Operating Activities 49,706 (10,076)

CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition of premises, furniture, fixture and equipment (3,639) (1,083)

Proceeds from disposals of premises, furniture, fixture and equipment 10 20

Acquisition of Held to collect investments (17,243) 0

Maturities of Held to collect investments 1,513 (3,674)

Proceeds from disposal of FVOCI securities 15,753 13,701

Acquisition of FVOCI securities (6,896) (18,303)

Net Cash From (Used in) Investing Activities (10,502) (9,339)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from issuance of common stock 41 42

Net proceeds from issuance of Stock Rights 0 59,826

Proceeds from bills payable 105,810 72,725

Payments of bills payable (95,007) (91,394)

Dividends paid (1,676) (1,700)

Net Cash From (Used in) Financing Activities 9,168 39,499

NET INCREASE (DECREASE) IN CASH

AND CASH EQUIVALENTS 48,372 20,084

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR

Cash and other cash items 45,006 40,909

Due from Bangko Sentral ng Pilipinas 353,308 318,002

Due from other banks 51,479 41,794

Held to Collect Securities 2,097 894

SPURRA 18,260 14,302

Interbank Loans Receivable 31,576 72,749

FCNC 3,695 3,338

505,421 491,988

CASH AND CASH EQUIVALENTS AT END OF THE PERIOD

Cash and other cash items 41,400 31,551

Due from Bangko Sentral ng Pilipinas 375,479 378,530

Due from other banks 45,832 40,149

Held to Collect Securities 7,300 18,830

SPURRA 52,663 9,501

Interbank Loans Receivable 27,306 30,827

FCNC 3,813 2,684

553,793 512,072


CASH FLOW STATEMENTS

FOR THE PERIODS ENDED MARCH 31, 2018 AND 2017


Current90 DAYS OR

LESS91 - 120 DAYS 121 - 180 DAYS

181 DAYS AND

OVERTOTAL

A. INTERBANK TERM LOANS RECEIVABLES P 31,320 P 0 P 0 P 0 P 0 P 31,320

B. LOANS AND RECEIVABLES P 1,861,743 P 5,468 P 1,948 P 1,769 P 18,085 P 1,889,013

Loans & Discounts 1,574,097 3,893 1,089 1,316 12,634 1,593,029

Agri - Agra Loans 91,397 142 0 1 81 91,621

Bills Purchased 15,603 0 0 0 26 15,629

Customers Liability on Draft under LC/TR 52,755 0 0 0 509 53,264

Customers Liability for this Bank's Acceptances 4,400 0 0 0 0 4,400

Credit Card Receivables 57,866 1,246 229 411 1,872 61,624

Restructured Loans 6 19 0 0 1,086 1,111

Reverse Repurchase Agreement 52,663 0 0 0 0 52,663

Unquoted Debt Securities Classified as Loans 2,815 0 541 0 824 4,180

Other Loans & Receivables 10,141 168 89 41 1,053 11,492

C. ACCOUNTS RECEIVABLE P 2,926 P 959 P 110 P 247 P 1,579 P 5,821

TOTAL P 1,895,989 P 6,427 P 2,058 P 2,016 P 19,664 P 1,926,154

TYPE OF ACCOUNTS



AGING OF LOANS AND ACCOUNTS RECEIVABLE

As of March 31, 2018


Annex A

NO. OF SHARES – COMMON Outstanding Balance Average Number of Outstanding Balance Average Number of

As of March of Common Shares Common Shares of Common Shares Common Shares

January 4,369 1,505 3,808 1,269

February 4,369 1,359 4,367 1,407

March 4,369 1,505 4,367 1,504

Weighted Average 4,369 4,180

Basic Earnings per share

Net profit attributable to shareholders of the Parent Bank 5,877 5,831

Less: Dividends on preferred shares 339 340

Net profit available to common shares 5,538 5,491

Divided by the weighted average number of

outstanding common shares 4,369 4,180

Basic Earnings per share 1.27 1.31

Diluted Earnings Per Share

Net profit attributable to shareholders of the Parent Bank 5,538 5,491

Divided by the weighted average number of

outstanding common shares:

Weighted Average number of common shares 4,369 4,180

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 4,369 4,180

Diluted Earnings Per Share 1.27 1.31

Note:

*Net profit attributable to shareholders of the Parent Bank is reduced by dividends on preferred shares as these

were not assumed to be converted. Potential common shares from assumed conversion of these preferred shares

are anti-dilutive in 2018 and 2017.


7899, BDO Corporate Center, Makati Avenue, Makati City

COMPUTATION OF WEIGHTED NUMBER OF COMMON SHARES

(Amounts in Millions of Pesos Except Per Share Data)

2018 2017

BDO Unibank, Inc. & Subsidiaries

Balances by Segment



Commercial Banking Investment Banking Private Banking Leasing & Finance Insurance Others Total Eliminations Group

Statement of Income

Total Interest Income

External 27,077 16 411 482 253 2 28,241 0 28,241

Inter-Segment 59 1 0 0 5 7 72 (72) 0

27,136 17 411 482 258 9 28,313 (72) 28,241

Total Interest Expense

External 5,703 1 137 208 18 4 6,071 0 6,071

Inter-Segment 7 13 0 40 0 12 72 (72) 0

5,710 14 137 248 18 16 6,143 (72) 6,071

Net Interest Income 21,426 3 274 234 240 (7) 22,170 0 22,170

Other Operating Income

Investment Banking Fees 0 204 0 0 0 0 204 0 204

Others 7,962 92 256 301 2,404 138 11,153 (446) 10,707

7,962 296 256 301 2,404 138 11,357 (446) 10,911

Other Operating Expenses

Depreciation and Amortization 1,017 12 8 219 10 28 1,294 0 1,294

Impairment Losses 1,770 1 2 17 10 0 1,800 0 1,800

Others 18,934 231 343 186 2,266 107 22,067 (235) 21,832

21,721 244 353 422 2,286 135 25,161 (235) 24,926

Profit before Tax 7,667 55 177 113 358 (4) 8,366 (211) 8,155

Tax Expense 2,034 19 53 23 158 3 2,290 0 2,290Net Profit 5,633 36 124 90 200 (7) 6,076 (211) 5,865

Statements of Financial Position

Total Resources

Segment Assets 2,677,825 6,675 54,167 42,308 39,266 5,700 2,825,941 (44,285) 2,781,656

Intangible Assets 5,344 134 24 26 31 1 5,560 2,907 8,467

Deferred Tax Assets 7,495 (182) 30 118 26 (21) 7,466 0 7,4662,690,664 6,627 54,221 42,452 39,323 5,680 2,838,967 (41,378) 2,797,589

Total Liabilities 2,386,500 2,413 48,768 37,221 31,211 2,483 2,508,596 (10,595) 2,498,001

Other Segment Information

Capital expenditures 3,847 4 6 171 23 147 4,198 0 4,198

Investment in associate under

equity method 4,611 0 0 258 0 0 4,869 0 4,869

Share in the Profit of associates 161 0 0 (8) 0 0 153 0 153

BDO Unibank, Inc. & Subsidiaries

Balances by Segment



Commercial Banking Investment Banking Private Banking Leasing & Finance Insurance Others Total Eliminations Group

Statement of Income

Total Interest Income

External 21,510 16 433 469 173 3 22,604 0 22,604

Inter-Segment 46 2 0 0 4 0 52 (52) 0

21,556 18 433 469 177 3 22,656 (52) 22,604

Total Interest Expense

External 3,836 0 143 166 15 1 4,161 0 4,161

Inter-Segment 6 12 0 24 0 10 52 (52) 0

3,842 12 143 190 15 11 4,213 (52) 4,161

Net Interest Income 17,714 6 290 279 162 (8) 18,443 0 18,443

Other Operating Income

Investment Banking Fees 0 311 0 0 0 0 311 0 311

Others 8,320 78 205 285 3,397 108 12,393 (1,303) 11,090

8,320 389 205 285 3,397 108 12,704 (1,303) 11,401

Other Operating Expenses

Depreciation and Amortization 1,081 11 6 204 14 7 1,323 0 1,323

Impairment Losses 1,410 0 0 13 0 0 1,423 0 1,423

Others 16,282 209 333 149 2,660 96 19,729 (191) 19,538

18,773 220 339 366 2,674 103 22,475 (191) 22,284

Profit before Pre-acquisition 7,261 175 156 198 885 (3) 8,672 (1,112) 7,560

Pre-acquisition Income 0 0 0 0 0 0 0

Profit before Tax 7,261 175 156 198 885 (3) 8,672 (1,112) 7,560

Tax Expense 1,426 64 50 54 122 6 1,722 0 1,722Net Profit 5,835 111 106 144 763 (9) 6,950 (1,112) 5,838

Statements of Financial Position

Total Resources

Segment Assets 2,276,402 6,824 63,724 40,966 34,047 5,260 2,427,223 (46,077) 2,381,146

Intangible Assets 5,270 134 25 40 42 1 5,512 2,907 8,419

Deferred Tax Assets 6,432 (199) 39 53 4 (24) 6,305 0 6,3052,288,104 6,759 63,788 41,059 34,093 5,237 2,439,040 (43,170) 2,395,870

Total Liabilities 2,002,394 3,288 58,378 36,104 27,331 2,152 2,129,647 (16,138) 2,113,509

Other Segment Information

Capital expenditures 1,202 16 1 126 8 138 1,491 0 1,491

Investment in associate under

equity method 4,309 0 0 272 0 0 4,581 0 4,581

Share in the Profit of associates 149 0 0 (7) 0 0 142 0 142

Documents

Home | PDS Group - COVER SHEET · 2018. 4. 24. · BDO Corporate Center, 7899 Makati Avenue, Makati City 7. Address of issuer's principal office Postal Code 856-7434/840-7000 LOC