CBC AFSR2021 - Final PDF

On to Our
Next Century
of Banking
2021 ANNUAL FINANCIAL &
SUSTAINABILITY REPORT
About the Report
102-46, 102-50, 102-51, 102-52, 102-54
This report highlights material information about the China Bank Group’s financial and non-financial
performance, operating context, risk management, corporate governance, and value creation for
stakeholders from our products and services for the period January 1 to December 31, 2021. This
report has been prepared in accordance with the GRI Standards: Core Option. It also referenced
Sustainability Accounting Standards Board (SASB) for materiality disclosures. This is also aligned
with the disclosure guidelines of the Bangko Sentral ng Pilipinas (BSP), the Securities and Exchange
Commission (SEC), and the ASEAN Corporate Governance Scorecard.
About the Cover

Sunrise is a symbol of hope, inspiration,
growth, and fresh start. The sun rises each
day and brings a ray of hope even in the most
challenging of times. The cover of this report
is a pixel art of a sunrise, symbolizing new
beginnings as the world returns to normal, new
On to Our opportunities in the digital age, and optimism
Next Century
of Banking for China Bank’s next century of banking.
2021 ANNUAL FINANCIAL &
SUSTAINABILITY REPORT
Contents
2 ABOUT CHINA BANK
4 OVER A CENTURY OF STRENGTH
AND RESILIENCE
6 MESSAGE TO STAKEHOLDERS
10 FINANCIAL HIGHLIGHTS
12 OPERATIONAL HIGHLIGHTS
26 SUSTAINABILTY STRATEGY
• How We Create Value
• Contribution to UN Sustainable
Development Goals
• Sustainability Approach
• Stakeholder Engagement
• Materiality
38 SUSTAINABILITY PERFORMANCE
• Strong Stakeholder Relationships
• Corporate Citizenship
• Customer Satisfaction
• Employee Success
• Business Integrity
82 BOARD OF DIRECTORS
88 MANAGEMENT COMMITTEE
90 MANAGEMENT TEAM
92 AWARDS
93 FINANCIAL STATEMENTS
276 BRANCH DIRECTORY
292 SUBSIDIARIES AND AFFILIATE
295 PRODUCTS AND SERVICES
304 TOPIC BOUNDARY
GRI INDEX AND SASB CONTENT INDICES
311 INVESTOR INFORMATION
2021 Annual Financial and Sustainability Report 1

About China Bank
102-1, 102-2, 102-6, 102-7, 102-10, 102-16, 102-54
China Banking Corporation (China Bank) is a leading

private universal bank in the Philippines with over 100
years of banking experience and history. We provide a
full range of banking products and services to individuals
and businesses, including Peso and foreign currency HEADQUARTERS:
RTERS:
deposits; corporate, business, and consumer loans China Bank Building,
Paseo de Roxas
oxas corner
(credit cards, housing, auto, personal, and automatic
Villar St., Makati
akati City
payroll deduction); remittance; treasury and foreign
1226 Philippines
pines
exchange trading; trust and asset management; wealth
management; and cash management. We also serve the
retail banking, investment banking, and insurance needs
of our diverse customers through our subsidiaries China
637
Bank Savings, China Bank Capital, China Bank Securities, Branches
s
Resurgent Capital, China Bank Insurance Brokers, and
affiliate Manulife China Bank Life Assurance. 1,037
7
ATMs
China Bank’s head office is located in Makati City,
Philippines. As of December 31, 2021, our nationwide
footprint spanned 637 branches, complemented by
self-service and digital banking channels available 24/7
— 1,037 ATMs, Cash Accept Machine, China Bank
TellerPhone, China Bank Online, and China Bank Mobile
App. Our manpower reached 9,747-strong, serving 2.4
9,747 2.4M
Employees Customers
million customers.
We are a member of the SM Group, one of the largest

conglomerates in the Philippines. As of December
31, 2021, SM Investments Corporation has effective
22.51%
ownership in China Bank of 22.51%. Foreign shareholders
owned 26.57%, while the remaining 50.92% were held
by various investors.
50.92%
Ownership
26.57%
SMIC Foreign Others
2 China Banking Corporation

Our vision, mission, and the values passed on by China Bank’s founders underpin
our continuing story of sustainable growth, governance excellence, and enduring
partnerships. For over a century, China Bank has been operating ethically and
responsibly to drive economic growth, to uplift lives and livelihoods, and to help
communities progress towards a sustainable future.
VISION MISSION CORE VALUES

Drawing strength from our rich We will be a leading provider of quality • Integrity
history, we will be the best, most services consistently delivered to • High Performance Standards
admired, and innovative financial institutions, entrepreneurs, and • Commitment to Quality
services institution, partnering with individuals here and abroad, to meet • Concern for People
our customers, employees, and their financial needs and exceed • Efficiency
shareholders in wealth and value their rising expectations. • Resourcefulness/Initiative
creation. • Customer Service Focus
We will be a primary catalyst in
the creation of wealth for our
customers, driven by a desire to
help them succeed, through a highly
engaged team of competent and
empowered professionals, guided
by in-depth knowledge of their
needs and supported by leading-
edge technology.
We will maintain the highest ethical

standards, sense of responsibility,
and fairness with respect to
our customers, employees,
shareholders, and the communities
we serve.

Over A Century of Strength
and Resilience
1920 1942 1965

The Japanese military shuts down China Declares 100% stock dividend and
Bank, liquidates its assets, and jails its increases its authorized capital stock from
principal officers Albino SyCip and George P10 million to P40 million
Dee Se Kiat
1969
1945 Becomes the first
China Bank reopens and while working bank in Southeast
towards its own recovery, lends to key Asia to process
Dee C. Chuan leads a group of top
industries for post-war reconstruction and deposits on-line,
Chinese Filipino businessmen to establish
long-term development using the IBM
China Bank. The Bank opens for business
360
on August 16, 1920 at No. 90 Rosario St.,
Binondo, Manila
1924 1970
Transfers its growing operation to its own Still the biggest local private commercial
building on Juan Luna corner Dasmariñas bank, with P566 million in resources
Sts., Binondo, its head office for the next
1973
seven decades
Hits the P1-billion mark in assets; meets
1948
the Central Bank’s requirement of a
Opens China Bank Cebu, its first local
P100 million minimum paid-up capital for
branch
commercial banks
1975
Increases its Filipino ownership up to the
70% level required by the Central Bank,
paving the way for China Bank’s major
branch expansion program
1925 1949
Opens branch in Xiamen, China Closes Xiamen and Shanghai branches 1977
when the Communists took over China Hikes capitalization to P300 million from
1927 1954
P100 million; becomes one of the first
Becomes one of the first companies banks authorized by the Central Bank to
Albino SyCip initiates
to be listed on the Manila Stock engage in foreign currency-denominated
the Liberty Wells
Exchange transactions
project to provide
potable water for 1982
millions of Filipinos Establishes CBC Properties and Computer
Center, Inc. to provide computer-related
services solely to China Bank and to
1955 manage its electronic banking and
Breaches the P100-million mark in assets, e-commerce requirements
1929 becoming the biggest local private
Opens branch in Shanghai, China commercial bank 1988
Launches Teller
1931 1960 Phone, the first
The Great Depression adversely Opens its first branch in Manila, Sto. Cristo telephone banking
affects the Philippine banking sector; Branch service in the
hit by runs, a rival bank goes under, Philippines
but China Bank weathers the crisis
unshaken

1990 2007 2017
Joins seven other banks to create BancNet, Acquires Manila Bank and operates Gets investment grade credit rating of
the country’s largest ATM network; it as China Bank Savings; enters into “Baa2” from Moody’s; raises P15B from
transfers its corporate headquarters to its a bancassurance joint venture with stock rights offer
present location along Paseo de Roxas in Manulife to form China Bank Manulife Life
Makati City Assurance Corp. 2018
Signs US$150 million Green Bond
issuance for climate-smart projects with
International Finance Corporation (IFC) as
sole investor
2019
Raises P30 billion via maiden issue of
2012 fixed-rate retail bonds, one of the largest
Acquires Pampanga-based Unity Bank bond offerings for the year; begins
restoration of original head office in
2014 Binondo
Acquires Plantersbank and merges it with
China Bank Savings; raises P8 billion from 2020
1991 its stock rights offering Marks centennial; hits P1 trillion in assets
Acquires its universal banking license and P100 billion in capital
1995
Embarks on a five-year P150 million program
to upgrade its technology infrastructure,
acquiring leading-edge Dimension software
from Kirchman Corp. and the latest IBM ES
9000 hardware 2015 2021
Enters the credit card business and Inaugurates the restored China Bank
1996 launches China Bank MasterCard; rolls
Accesses the offshore capital markets Binondo Business Center and the new
out its new core banking system, the China Bank Museum; emerges as Best
for the first time by issuing US$50 million
powerful Finacle Core Banking Solution Bank in the Philippines and among the
Floating Rate Certificate of Deposit (FRCD)
(FCBS) from Infosys; reorganizes its strongest banks in the country and in the
1997 Investment Banking Group into a Asia Pacific region.
Issues US$75 million FRCD; best capitalized full-fledged investment house subsidiary,
bank during the Asian Financial Crisis, after p
China Bank Capital
a 2 for every 3 shares stock rights offering
1998
Establishes China Bank Insurance Brokers,
Inc. to provide direct insurance broking for
retail and corporate customers, with a wide
and comprehensive range of plans for life 2016
and non-life insurance Establishes China Bank Securities to
provide clients with stock brokerage,
2005 securities research, and analysis services
Launches its
Internet banking
facility, China Bank
Online

Message to Stakeholders
102-14, 102-15, 103-1
To our fellow stakeholders: was driven by increased capital formation spending and
loosened mobility restrictions which boosted household
The world is finally learning to live with COVID-19. Even consumption. We project a 7.1% GDP growth in 2022
as the pandemic lingers and some things will not likely on the back of higher vaccination rates, supportive policy
go back to the way they were, we are seeing signs of measures and improving private sector confidence.
normalcy and economic recovery, thanks to the vaccines
and the government’s policy support. While uncertainties remain, everyone, including your
Bank, is doing what needs to be done to stay on the road
The global economy grew an estimated 5.9% in 2021, a to recovery.
welcome turnaround from the 3.1% contraction in 2020.
The Philippines, while battered by the pandemic and
typhoons Fabian and Odette, showed great resilience in Surging forward
2021.
Amid the challenges of a protracted pandemic, including
The government’s relaxation of COVID-19 restrictions and lockdowns in late March and in August to curb the wave
vigorous vaccination drive enabled more businesses and of new infections, 2021 has been a year of hope and
workers to get back on their feet. optimism as economic recovery began to take shape.
On the monetary front, the Bangko Sentral ng Pilipinas At China Bank, we take pride in our team’s hard work
(BSP) kept the policy rate at its record low of 2% for the and dedication to serve and support our customers, and
entire year to make loans more accessible. Meanwhile, the execution of our strategies that enabled us to post
the Duterte administration signed into law certain consistent year-on-year growth in quarterly net income
stimulus measures to help the Philippine economy since the start of the global pandemic.
recover from the pandemic shock, like the extension
of the availability of the 2020 National Budget and Your Bank ended the year stronger than ever before, with
funds appropriated through Bayanihan 2, the Corporate P15.1 billion in net income, 25% higher compared to
Recovery and Tax Incentives for Enterprises (CREATE) 2020, on the back of sustained core business growth and
Act, the Financial Institutions Strategic Transfer (FIST) Act, effective cost management. This translated to an improved
and amendments to the Foreign Investments Act and the return on equity of 13.6% and return on assets of 1.5%.
Retail Trade Liberalization Act.
Other key indicators were likewise positive: total assets
All these bode well for the country. Gross Domestic of P1.1 trillion, up 7%; total deposits of P863 billion,
Product (GDP) grew 12.0% in the second quarter of up 3%, with an improved CASA (checking and savings
2021, effectively lifting the Philippines out of recession. accounts) ratio of 64% from 56%; net loans of P609
Third and fourth quarter growth rates were recorded billion, up 9%. Total capital increased 13% to P119 billion.
at 6.9% and 7.7%, respectively, bringing the full-year The healthy capital ratios also reflect your Bank’s financial
increase to 5.6% from -9.6% in 2020. The rebound soundness—common equity tier 1 (CET 1) ratio of 14.9%
and total capital adequacy ratio (CAR) of 15.7%.

GILBERT U. DEE HANS T. SY WILLIAM C. WHANG
Vice Chairman Chairman President

Moody’s Investors Service affirmed China Bank’s The numbers speak volumes, but not
investment grade credit rating with a stable outlook, as resoundingly as our well-deserved
citing your Bank’s improved capital and profitability to
recognitions. We are incredibly proud and
mitigate risks to asset quality. Philippine Rating Services
Corporation (PhilRatings) also maintained China Bank’s
honored that China Bank was named the
PRS Aaa (corp.) rating with a stable outlook, the local Best Bank in the Philippines in 2021 by The
debt watcher’s highest credit rating, on account of our Asset, besting even the largest banks in
established track record and resiliency, sound funding the country.
profile, lower interest expense, more-than-satisfactory
asset quality, and ample capital buffer.
Embracing sustainability
The best bank in the Philippines and one
of the strongest banks in Asia Pacific China Bank has been on a journey to do well by doing
good. We continue to balance our financial growth
The numbers speak volumes, but not as resoundingly as with a sustainability mindset, progressively adopting
our well-deserved recognitions. We are incredibly proud sustainable business practices to direct our own corporate
and honored that China Bank was named the Best Bank performance towards creating value for the environment
in the Philippines in 2021 by The Asset, besting even the and our stakeholders.
largest banks in the country. The international finance
journal also named our investment banking arm, China In 2021, the Board of Directors approved China Bank’s
Bank Capital, as the Best Bond Adviser (Domestic) for the Sustainable Finance Transition Plan to institutionalize the
sixth consecutive year. integration of sustainability principles in our business
practices. As we continue to finance eligible projects
The awards came on the heels of your Bank’s landing with positive contributions to the U.N. Sustainable
the second top spot in the Strongest Philippine Banks Development Goals, we also recognize the importance
by Balance Sheet ranking of The Asian Banker. China of identifying and managing environmental and social
Bank made it to the top 20% of the regional publication’s (E&S) risks in banking and financing activities. We made
ranking of 500 strongest banks in the Asia Pacific region, headways in the integration of E&S risks in our enterprise
jumping from 323rd place in 2020 to 81st place in 2021— risk management process. We also intend to strengthen
the best improvement among the nine Philippine banks sustainability awareness through capacity building and
included in the prestigious list. stakeholder engagement endeavors.
These distinctions attest to your Bank’s strength, Much work lies ahead to further embed sustainability
resilience, and agility in these difficult times; but more into our operations, and at the same time, to help our
importantly, they are inspiring confirmations that we stakeholders understand that their actions and decisions
are on the right track. Our digital transformation and have an impact on the environment and society. We
relentless efforts to build and maintain robust liquidity are determined to be stewards in this sustainability
and capital levels over the years have positioned China transformation journey—both for us and our stakeholders.
Bank well to weather the ongoing storm, and at the same
time, to help our customers and the country recover.

Message to Stakeholders
Valuing what matters We are moving forward, determined to achieve our

objectives of expanding our business and future proofing
From continuous service, process, and system our growth by focusing on asset quality, digital banking,
enhancements to improve customer experience, to and ESG implementation. And as we do so, we will
various initiatives to contribute to a sustainable future, continue to monitor and assess the pandemic’s impact
your Bank is driven to create value every day, in any way on our business and our responsiveness to the evolving
we can. environment, with a keen eye on cyber security and data
privacy, and the scalability and resilience of China Bank’s
For our shareholders, China Bank paid a total of P2.69 technology infrastructure.
billion or P1.00 per share cash dividends in 2021. The
consistent payment of dividends is a testament to your The professionalism and dedication of our employees,
Bank’s financial well-being and future prospects. For as well as the loyalty of our stockholders and customers
our employees, we issued 5.4 million shares to about are truly inspiring. On behalf of the China Bank Board,
8,400 qualified China Bank Group employees under the we thank all of you for staying the course with us and
Centennial Stock Grant Plan. This equity gift of 100 shares for believing that we could rise above the adversities
for every year of service is a big gesture of appreciation together.
for the dedication of our partners in success.
We are more confident than ever in China Bank’s
For the revival of Binondo and for the next generation capabilities to navigate the next normal and to create a
of China Bankers and customers, we completed the greener and more inclusive future. We are very excited
restoration of our original headquarters in Binondo and the for the opportunities ahead. We hope you and your
construction of the China Bank Museum. The faithfully families stay healthy and safe.
restored China Bank Binondo Business Center, which
bears the historical marker from the National Historical Sincerely,
Commission of the Philippines and the Important Cultural
Property marker of the National Museum, stands proud
today as a vestige of Binondo’s heyday as the “Wall Street
of the Philippines”. Hans T. Sy
Chairman
Confidence in our future
Our strategies and measures to ensure the safety and Gilbert U. Dee
well-being of our employees and customers, to adapt and Vice Chairman
innovate to operate efficiently and continuously in the
new normal, and to deliver positive customer experiences
across our distribution network and digital channels,
combined with the unwavering trust and support of our Wiliam C. Whang
stockholders and customers, resulted in China Bank’s President
record performance in 2021.

Financial Highlights
102-7
CONSOLIDATED PARENT COMPANY

2020 2021 2020 2021
For the Year (In Million Pesos)
Gross Revenues 57,149 56,086 50,824 49,479
Gross Expenses 45,077 40,980 38,761 34,390
Net Interest Income 33,843 38,314 29,902 33,618
Non-Interest Income 10,011 10,361 9,120 9,331
Operating Income 43,854 48,675 39,022 42,950
Provision for Impairment & Credit Losses 8,869 8,877 7,983 7,680
Operating Expenses 21,522 22,335 17,490 18,114
Net Income Attributable to Equity Holders of the Parent Bank 12,063 15,088 12,063 15,088
Net Income 12,071 15,106
At Year-End (In Million Pesos)

Total Resources 1,036,012 1,112,320 947,128 1,027,185
Loan Portfolio (Net) 557,214 609,007 491,994 544,172
Investment Securities 235,892 279,375 226,782 269,468
Total Deposits 835,231 862,860 750,973 782,219
Stockholders’ Equity 104,985 119,123 104,962 119,081
Distribution Network and Human Resource

Number of Branches 634 637 476 477
Number of ATMs 1,022 1,037 857 870
Number of Employees 9,825 9,747 7,216 7,208
Key Performance Indicators (In %)

Profitability
Return on Average Equity 12.09 13.58 12.09 13.58
Return on Average Assets 1.21 1.45 1.32 1.58
Net Interest Margin 3.92 4.20 3.82 4.02
Cost-to-Income Ratio 49 46 45 42
Liquidity
Liquid Assets to Total Assets 43 42 44 43
Loans (net) to Deposit Ratio 67 71 66 70
Asset Quality
Gross Non-Performing Loans (NPL) Ratio 2.3 2.5 1.5 1.9
NPL Cover 128 116 183 137
Capitalization
Commom Equity Tier 1 Ratio (CET 1/Tier 1) 13.82 14.92 13.68 14.70
Total Capital Adequacy Ratio (CAR) 14.73 15.75 14.59 15.57
Shareholder Information
Market Value
Market Price Per Share (In Pesos) 24.95 26.00
Market Capitalization (In Million Pesos) 67,013 69,973
Valuation
Earnings Per Share (In Pesos) 4.49 5.61
Book Value Per Share (In Pesos) 39.08 44.25
Price to Book Ratio (x) 0.64 0.59
Price to Earnings Ratio (x) 5.56 4.63
Dividends
Cash Dividends Paid (In Million Pesos) 2,686 2,686
Cash Dividend Per Share (In Pesos) 1.00 1.00
Cash Payout Ratio (In %) 27 22
Cash Dividend Yield (In %) 4.53 4.08

Financial Highlights
Net Income Total Resources Stockholders’ Equity

In Billion Pesos In Billion Pesos In Billion Pesos
1,112
1,036
962 119
15.1 866 105
751 96
12.1 88
84
10.1
7.5 8.1
2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021
Total Deposits Distribution Network Total CAR

In Billion Pesos Branches ATMs In Percent
863 1,022 1,037 15.75

835 966 1,002 14.73
755 14.22 13.67
722 888 13.09
635
620 631 634 637
596
2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021
Return on Average Equity Cash Dividends Paid Market Capitalization

In Percent In Billion Pesos In Billion Pesos
13.58 2.7 2.7 89

12.09 2.4
11.04 2.2 73
67 67 70
10.01 9.54 2.0
2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021
2021
2021 Annual
Annual Financial
Financial And
and Sustainability Report 11
OPERATIONAL
HIGHLIGHTS

T
he year 2021, though still very challenging, was
better compared to 2020. The vaccines gave
people hope and confidence, the rising tide
caused by the reopening of the economy lifted nearly
all boats, and the shift from crisis mode to recovery
mode created a more palpable sense of normalcy.
With people’s safety as still the top priority in 2021,

China Bank settled into the rhythm of new normal
operations—keeping what worked in 2020 and
avoiding what did not, adapting and innovating at the
speed of need, deftly balancing crisis management
and forward thinking, and pushing ourselves, our
systems, and our businesses to operate at their best to
keep China Bank firmly on track, and most importantly,
to better serve our customers.

Ensuring safety and convenience
across all customer touchpoints
From the onset, our strategy is to provide customers with a great

omnichannel experience that combines the best of human and digital
services. We focused on enhancing our service delivery channels,
making our branches safe havens for face-to-face transactions, and
our e-banking channels—ATM, mobile banking app, internet banking,
and phone banking—convenient and secure options for remote
banking.
• Maintained branch operations

and expanded our branch
network with three new
branches while ensuring the
safety of our employees and
customers by implementing
health protocols, vaccinating
personnel, and regularly
disinfecting facilities.
• Instituted a “Buddy Branch”
system to lessen operational
disruptions. When a branch
is closed, its depositors can
easily transact with the buddy
branch.
• Posted regular advisories
on China Bank’s website
and social media accounts
to inform customers on the
branches that are open.

Operational Highlights
99.9 %
availability of
digital channels
• Maintained 99.9% availability of digital channels.

• Simplified registration in China Bank Mobile
MORE DIGITAL*
App—an enhanced self-service feature that lets
BANKING USERS AND
customers complete their mobile app registration
TRANSACTIONS without having to visit a branch. Through the app,
customers can also conveniently and securely
request for ATM PIN, internet banking password
297K 132K reset, and card suspension. Transferring funds
+39% +56% was also made easier via China Bank Mobile App
Active Users using mobile number, email address, or QR code.
Enrollment
• Launched the Scan-to-Pay feature in China Bank
Mobile App to enable QR code payments for
32M 39% purchases from any establishment or online store.
+90% Transaction • Added more billers so customers can conveniently
Transactions Share pay their bills from the safety of their homes.
• Waived fund transfer fees for InstaPay and
* China Bank Mobile App and China Bank Online PESONet until December 31, 2021.
• Opened the renovated China Bank Online Hub
at the ground floor of the Bank’s Head Office in
Makati City. Equipped with three new multi-touch

PRESERVING A LEGACY
ATMs, a wide screen monitor displaying the Bank’s

latest offerings, and two bunch recycler machines,
the new China Bank Online Hub is a cozy place to
experience the Bank’s self-service channels.
• Provided business customers with robust cash
management services (CMS) to help them
quickly deploy contactless POS terminals, make
and receive digital payments, and achieve more
operating and cost efficiencies.
• Installed 24 more China Bank ATMs in branches
and high traffic locations.
China Bank’s original head office in Binondo was • Utilized social media, website, e-mail, and other
officially reopened to the public on January 28, 2021, communication channels to educate customers
with the transfer of the Binondo Business Center (BBC) on the benefits of digital banking and how to bank
Cash Department to the renovated lobby of the historic
safely and securely online.
building.
To preserve the Bank’s heritage and more importantly, to

help revive the world’s oldest Chinatown, we embarked
on a true restoration of our original headquarters— the
Binondo Heritage Restoration Project—the centerpiece
MORE LOCATIONS
of our centennial celebration. TO BANK
The building’s impressive transformation is very

apparent. Outside, the meticulously restored original
grills and arches, previously walled in for the last 70
637 1,037
years, give the refreshed building an elegant and
Branches ATMs
nostalgic vibe. Meanwhile, the modern interior makes
the branch lobby, with its high ceiling and beautiful
granite floors, look grand and contemporary. The
National Historical Commission of the Philippines 477 870
China Bank China Bank
and the National Museum recognized the China Bank
Building with historical markers. The latter also declared 160 167
CBS CBS
it an important cultural property.
While the pandemic accelerated the adoption of online

banking and self-service facilities, physical branches
remain important. A branch is where customers go to
for high value transactions like loans and investments,
to resolve any issues, or to simply take comfort in a
friendly face-to-face interaction.

Encouraging saving and investing
The pandemic has reminded people of the importance of being

financially prepared during difficult times. To encourage our customers
to prioritize securing their future, we focused on making China Bank’s
deposit, investment, and insurance products very accessible by
leveraging our vast branch network and the latest technology. We
also offered customers more options to make the most of their hard-
earned money, including China Bank bonds, government and corporate
securities, and other investment opportunities like stocks, Real Estate
Investment Trusts (REITs), and Initial Public Offerings (IPOs). We
supported these with our financial literacy efforts to drive the uptake of
financial services and investment instruments, as well as to protect the
banking public from investment scams and cyber risks.
• Launched “Save Big, Shop Big” deposit promo to

make saving more rewarding. For every P5,000
monthly average daily balance, customers earn a
reward point which can be exchanged for SM Gift
Pass or China Bank Credit Card shopping credits.
• Upgraded to a fully digital trust and wealth
management platform using Intellect’s Wealth
Qube suite. With this robust straight-through
processing solution, China Bank is able to

MORE DEPOSITS AND ASSETS UNDER MANAGEMENT (AUM)
P863B P341B
+3% +3%
Deposits AUM*
Others WMG
36% P118B
CASA TAMG
64% P223B
* Trust & Asset Management Group and Wealth Management Group
MORE STOCK MARKET INVESTORS

efficiently handle the growing business volume and
stringent regulatory requirements, while providing
enhanced end-to-end customer experience, and
to deliver better digital solutions for our UITF 4,993
customers in managing their investments.
+70%
• Launched the China Bank Philippine Equity China Bank Securities
Index Tracker Fund, a unit investment trust fund trading accounts
(UITF) that aims to provide capital appreciation
by investing in a diversified portfolio of stocks
representative of the Philippine Stock Exchange
Index (PSEi) composition and its corresponding
weights. The fund aims to mirror the return of MORE INSURED FILIPINOS
its benchmark, which is the PSEi. China Bank
now offers 11 UITFs to suit investors of every risk
profile—from conservative to aggressive. Chinabank Manulife China
Insurance Bank Life
• Launched the Systematic Investment Plan (SIP),
Brokers Assurance
allowing existing UITF customers the opportunity
to schedule monthly or quarterly subscriptions
with the convenience of a one-time enrollment to
P921M P16.6B
a wide range of China Bank’s UITFs. +7% +77%
• China Bank Securities launched its online trading Premiums Premiums
platform, ChinaBankSec Online, to enable
investors to buy and sell stocks using their laptops, 49,295 90,855
personal computers, tablets or mobile phones.
ChinaBankSec Online also allows investors to -1% +11%
easily track and monitor their trades, view and Policies Policies
assess the performance of their portfolio, and
make informed decision by having access to charts

China Bank was lauded as the Best Bank for its strong
BEST BANK IN THE PHILIPPINES financial performance and proven expertise in corporate and
AND AMONG THE STRONGEST institutional banking, advisory and transaction banking, as
IN ASIA PACIFIC well as its environmental, social, and governance initiatives.
The Bank and all the other awardees in Southeast Asia were
recognized by The Asset for their zeal and versatility in seeking
ways to adapt to challenging conditions and enhancing their
services to end-users while recording fee income growth
despite the market volatility caused by the global pandemic.
The Bank was the country’s best performing bank in 2020 in

terms of profitability, posting full year net income growth of
20%, while most banks’ earnings dropped.
China Bank’s financial strength was also recognized by The

Asian Banker, ranking the Bank as the 2nd strongest in the
Philippines and among the top 20% in the Asia Pacific region
in The Asian Banker’s Top 500 Strongest Banks ranking 2021.
The Asian Banker cited China Bank as having the lowest gross
non-performing loans (NPL) ratio among Philippine banks
included in The Asian Banker 500, at 2.3% as of December
2020, while its gross NPL cover exceeded the ideal 100%
threshold. Meanwhile, the Bank achieved higher profitability
following a decline in cost-to-income ratio to 49% from 59%,
and an increase in return on assets to 1.2% from 1.1%. Apart
China Bank was named the Best Bank in the Philippines by from the 30% rise in net interest income, fee-based income
Hong Kong-based financial publication, The Asset. China also grew 19% on the back of better trading and securities
Bank bested the other banks in the country, including the gains. In addition, the robust capital and liquidity position
largest ones. helped improve overall balance sheet strength.
and market information. Active and sophisticated • Released regular savings, investment, and fraud
investors can use ChinaBankSec Alpha which protection tips on social media and conducted
offers more advanced trading tools and features various financial literacy and financial planning
such as conditional trading. webinars.
• Manulife China Bank Life Assurance Corporation
(MCBL) launched Legacy Secure, a whole life
insurance plan that provides policyholders
guaranteed life insurance coverage until age 100
and other benefits like guaranteed cash payouts,
potential dividends and lumpsum cash benefits.

Making banking more inclusive
Millions of Filipinos at the fringes—the unbanked and underserved

sector—are unable to participate in the formal financial system that would
enable them to benefit from the country’s economic growth. We advocate
financial inclusion, making our products and services affordable, our
processes simple, and our locations accessible to reach out to those at
the margins, particularly the overseas Filipino workers and their families,
public school teachers, and government employees nationwide.
MORE LOAN CENTERS,

MORE EASI-APDS LOANS
32 16
Loan Centers branch-lites/
sales kiosks
Replace with Elementary P16.4B

teacher, teaching using +21%
zoom Easi-APDS Loan
• Added a new Cash Pick-Up Partner, Al-Amanah

Islamic Investment Bank of the Philippines, for
Mindanao remittances.
• Partnered with Mobile Money International Sdn
for easier remittance for OFWs in Malaysia.
MORE REMITTANCE PARTNERS,
• Launched a remittance promo, “China Bank@100,
MORE REMITTANCES
Remit & Win P100K”, giving away P1.5 million in
45 overseas and domestic remittance total cash and prizes to 40 lucky OFWs. This was
tie-ups and cash pick-up partners with
followed up by “Mag-Remit at Maging Milyonaryo!
a combined network of over 12,000
branches worldwide Part 2”, a promo with ENJAZ for OFWs in the
Kingdom of Saudi Arabia. One lucky OFW won
US$1.7B P1 million in the grand draw, while 20 others won
P25,000 each in the regional draws.
+6% • Sustained the financial awareness sessions in the
remittances online Pre-Departure Orientation Seminar (PDOS)
for OFWs.

EMPOWERING OFWS
• Made applying for a CBS Easi-Automatic Payroll
Deduction Salary Loan (Easi-APDS Loan) easier—
just a phone call or a text message and a CBS
personnel will be ready to assist customers
anytime, anywhere. Easi-APDS is a multi-purpose
and non-collateral program for the teaching and
non-teaching personnel of public schools and
state-run colleges and universities, and other
government offices. With Easi-APDs, our public
servants do not have to fall victim to usurers and
loan sharks ever again. They can borrow up to
P1 million, no collateral, payable up to 36 months,
for emergency expense, home repairs, continuing
education, and working capital for home-based
businesses.
• Opened 11 new CBS branch-lites in the provinces Filipinos work abroad in pursuit of a better life for
themselves and their families. The Overseas Workers
to further promote financial inclusion.
Welfare Administration (OWWA) launched the Pre-
Departure Orientation Seminar (PDOS) in 1983 as a
mandatory seminar to help prepare departing Overseas
Filipino Workers (OFWs) for life outside the country.
MORE NEW-TO-BANK PDOS is an important part of OWWA’s education policy

SAVERS and of the government’s program for the safety and
welfare of OFWs. It is also a key channel for China
Bank’s financial literacy program, strengthening our
P250M US$1.3M commitment to promote financial inclusion.
deposits deposits China Bank has a PDOS Center in Manila and has tie-
+3% +18% ups with OWWA-accredited PDOS providers. With
China Bank OKS Peso China Bank OKS US Dollar the switch to online PDOS during the pandemic, we
(zero maintaining balance (zero maintaining balance continued to virtually educate OFWs on the importance
account) account)
of saving and investing. We conducted 147 sessions
with 10,272 webinar participants. Financial literacy
took on greater urgency with the uncertainties caused
by COVID-19, especially the threat of repatriation.
128,319 P360M Through PDOS, we provided practical tips and advice to
+6% +8% empower OFWs with a skill that will help secure their
financial future: money management.
accounts deposits
CBS Easi-Save Basic (only P100 initial deposit)

Making credit available
China Bank is committed to keeping businesses and the economy running,

helping borrowers meet their loan obligations through Bayanihan 1 & 2
and other forbearance programs, and providing the needed financing
boost so our customers can get back on their feet or achieve their dreams
in the face of COVID-19. As loan demand started to slowly pick-up in
2021, we continued to balance making credit accessible while managing
increased credit risks, and making credit available quickly while still
performing all the necessary checks.
• Automated eligibility checks

to expedite loan origination
and processing.
• Enhanced due diligence and
risk management to manage
the expected increase in
non-performing loans (NPL)
and the long-term effects on
asset quality.
• Set aside ample credit
provisioning to maintain
sound asset quality.
• Loans to businesses and
corporate clients—movers of
the economy— accounted for
80% of total portfolio.
• Communicated through
various communication
channels on the relief
measures, how to avail of
the payment holiday, what
to expect when payments
resume, and to promote
responsible credit practices.

MORE LOANS TO DRIVE ECONOMIC REBOUND
P502B P123B
+9% +8%
Business loans Consumer loans
P19.2B
auto
P18.4B P17.5B
Micro, Small, P84.5B personal
and Medium housing
Enterprises P1.4B
(MSME) loans Credit card
TOP HOUSING LOAN

FINANCING PARTNER
CBS was named Top Housing Loan Financing Partner by
PHirst Park Homes, Inc. (PPHI) during its 2021 mid-year
Sales Awards night. CBS bested established universal
banks by booking P1.1 billion in loans, equivalent to 739
units financed, in just the first half of 2021.
“CBS and PHirst Park Homes share values, including

integrity, customer-focus and concern for people,” said
CBS Housing Loans Division Head Kristine Chavez
Broadhurst. “By providing easy-to-access, uncomplicated
banking services to first home buyers, CBS is living up to
our commitment to promote financial inclusiveness and
uplifting the quality of life in communities we serve.”
Since the start of the partnership in 2017, CBS successfully

loaned out P3.1 billion to more than 2,000 homebuyers
in various communities established by PPHI. PHirst Park
Homes is the new First-Home brand of PPHI, a partnership
between Century Properties Group, Inc. and Mitsubishi
source: PPHI Corporation.

Helping deepen the capital markets
In 2021, the bond market was robust amid government and corporations’
heightened financing needs. The equity market also had a vibrant
year, closing with eight IPOs, 11 follow-on offerings, four stock rights
offerings, and eight private placements. Through our investment banking
arm, China Bank Capital, we helped many issuers raise their financing
requirements from the local debt market, and at the same time, focused
on bringing new names and products to the market, promoting financial
inclusiveness to gain a wider investing public, and working closely with
regulators to broaden and deepen the domestic capital markets amid the
ongoing pandemic.
• China Bank Capital was granted the

most sole mandates, leading multiple
transactions across various offering
formats – China Bank Capital was sole
issue manager of D&L Industries,
Inc.’s maiden P5 billion bonds, sole
arranger for AllHome Corp.’s P2.0 billion
corporate notes, sole issue manager
for Century Properties Group. Inc.’s
P3 billion bonds, and 8990 Holdings Inc.’s
P3.7 billion preferred shares.
• Remained at the forefront of developing
and deepening the domestic debt capital
market by introducing the most number
of new issuers like D&L Industries,
PHINMA Corporation, AllHome Corp.
and Del Monte Philippines, Inc.; and
enabling repeat issuers like Ayala Land,
Inc., SM Prime Holdings, Inc., San
Miguel Corporation, and Aboitiz Equity
Ventures, Inc. to efficiently tap liquidity
from institutional and retail investors.
• Played a key role in the rejuvenation of the
equity markets through several landmark
transactions such as AC Energy’s stock

China Bank Capital 6-TIME BEST BOND

No.1 ADVISER
in the Local Corporate
Bond League Table
P425B
raised for the private sector
(USD and PHP deals)
rights offering, the IPOs of Monde Nissin, FIL

REIT, RL Commercial REIT, and AllDay Marts, the
Follow-On offering of The Keepers Holdings, and China Bank Capital was named the Best Bond Adviser
the preferred share issuance of Jollibee Foods (Domestic) by The Asset, winning the distinction for the
Corp. sixth consecutive year.
• Demonstrated strong commitment to helping the
At the Triple A Awards 2021, The Asset affirmed China
government in its fundraising efforts to combat
Bank Capital’s solid position as the top investment bank
the pandemic and support economic recovery. The in the Philippine bond market.
Bureau of the Treasury selected China Bank Capital
as an issue manager for three major issuances of China Bank Capital was also named The Best Bond
the Republic of the Philippines – the 25th retail House, alongside BDO Capital, by the Investment House
treasury bonds (RTB 25) with switch offer, the Association of the Philippines, and the Top Corporate
BTr’s very first retail onshore dollar bonds, and Issue Manager/Arranger (Investment House Category)
the 26th retail treasury bonds (RTB26), all of which by the Philippine Dealing System.
were launched and settled amidst quarantine
conditions. China Bank Capital remained the adviser of choice of
bond issuers in 2021 and was active across a wide
• Advised issuers on how to execute landmark deals. range of fixed income deals, including all the National
China Bank Capital was behind the structuring of Government’s Retail Treasury Bond and Premyo Bond
two landmark offerings – China Banking Corp.’s issuances. It was also instrumental in introducing
P20 billion bank bond and San Miguel Corporation’s quality issuers to the debt capital markets and executing
P30 billion fixed rate bonds. highly successful and socially impactful fixed income
transactions.

SUSTAINABILITY
STRATEGY

How We Create Value
102-15, 103-2, 201-1, 201-4
We create value from the impact of our financial products and services to
the environment, our stakeholders, and our national economy.
Social Development
A total of 165,279 China Bank China Bank’s head office in

clients availed of health and life Binondo, built in 1924, was
insurance from Manulife China restored to preserve the Bank’s
Bank Life (MCBL), equivalent to heritage and to help revive
13.5% increase from previous Binondo for future generations.
year.
Micro, Small, and Medium 9,747 permanent Filipino

Enterprises (MSME) loans employees in 2021, 67% of
amounted to P18.4B in which are female employees.
2021.
Environmental Protection
China Bank continued to Funding for renewable

fund renewable and green energy and green projects
projects in 2021. translated to avoided
greenhouse gas emissions.

Sustainability Strategy
Economic Growth
China Bank, via China Bank Through China Bank Capital,

Capital, raised P425B of a total of P903B was raised
capital for the private sector. for the government.
E-payments using Remittance transactions

China Bank Mobile App processed by China Bank
increased by 167% in 2021. reached US$1.68B in 2021,
a 6% increase compared to
previous year.
Direct Economic Value Generated and Distributed 2019 2020 2021

In billion pesos
Direct Economic Value Generated 34,714 38,410 41,903
Direct Economic Value Distributed 27,003 29,024 29,483
Operating Costs 8,967 8,163 11,371
Total Wages and Benefits 6,602 7,522 7,498
Total Payments to Providers of Capital 5,166 6,111 4,790
Payments to Government 6,268 7,226 5,816
Community Investments 0 2 7
Economic Value Retained 7,711 9,386 12,420

Contribution to UN Sustainable
Development Goals
The United Nations Sustainable Development Goals (UN SDGs) serve as a
guidance for nations to address global environmental and social pain points.
China Bank contributes to the achievement of the goals through our products and
services, with making a difference and creating societal impact in mind.
UN SDGs China Bank’s Contribution to the UN SDGs Based on Specific Targets
1.4 By 2030, ensure that all men and women, in particular the poor and the vulnerable, have equal
rights to economic resources, as well as access to basic services, ownership and control over land
and other forms of property, inheritance, natural resources, appropriate new technology and financial
services, including microfinance.
1.a Ensure significant mobilization of resources from a variety of sources, including through enhanced
development cooperation, in order to provide adequate and predictable means for developing countries,
in particular least developed countries, to implement programs and policies to end poverty in all its
dimensions.
Supported Filipino families by providing financial services to 2,570 MSME’s in 2021.
Contributed to economic development by dutifully paying taxes which amounted to P5.8B in 2021.
3.8 Achieve universal health coverage, including financial risk protection, access to quality essential
health-care services and access to safe, effective, quality and affordable essential medicines and
vaccines for all.
Provided health and life insurance protection to more Filipinos. Manulife China Bank Life’s gross
premiums increased 77% in 2021.
Chinabank Insurance Brokers booked 176 dengue policies for a gross premium totalling P100,660 in
2021, from only P17,377 in 2020.
4.4 By 2030, substantially increase the number of youth and adults who have relevant skills, including
technical and vocational skills, for employment, decent jobs and entrepreneurship.
4.7a Build and upgrade education facilities that are child, disability and gender sensitive and provide
safe, non-violent, inclusive and effective learning environments for all.
3,287 participants benefitted from the various Financial Literacy Programs of China Bank and CBS in
2021.
Disbursed P4.45B in loans to the education sector to build and improve schools.

UN SDGs China Bank’s Contribution to the UN SDGs Based on Specific Targets
5.5 Ensure women’s full and effective participation and equal opportunities for leadership at all levels
of decision-making in political, economic and public life.
Female officers accounted for 18% of the total officer population at China Bank. Two female
Independent Directors are in the Board.
7.1 By 2030, ensure universal access to affordable, reliable and modern energy services.
China Bank continued financing renewable and green projects in 2021.
8.8 Protect labor rights and promote safe and secure working environments for all workers, including
migrant workers, in particular women migrants, and those in precarious employment.
8.10 Strengthen the capacity of domestic financial institutions to encourage and expand access to
banking, insurance and financial services for all.
Fully vaccinated 96% of employees through the China Bank Group COVID Vaccination Program in 2021.
China Bank’s network of 637 branches, 1,037 ATMs, and robust digital channels provided customers
with easy access to banking during the pandemic.
Digital transactions through China Bank Mobile App increased by 103% in 2021.
12.6 Encourage companies, especially large and transnational companies, to adopt sustainable
practices and to integrate sustainability information into their reporting cycle.
China Bank has been publishing a combined annual and sustainability report for the last four years.
16.6 Develop effective, accountable, and transparent institutions at all levels.
China Bank’s excellence in corporate governance was again recognized at the ASEAN Corporate
Governance Scorecard Awards and the Four Golden Arrow Awards in 2021.

Sustainability Approach
102-32
In line with our mission to be a leading provider of financial products and services
to institutions, entrepreneurs, and individuals to meet their financial needs and
rising expectations, we are progressively integrating sustainability in the way
we do business. We define sustainability based on how we create value for our
stakeholders and for the environment. Our value creation is underpinned by
our sustainability goals of corporate citizenship, customer satisfaction, strong
stakeholder relationships, business integrity, and employee success.
1. Corporate Citizenship – Be a responsible corporate 3. Strong Stakeholder Relationships – Build strong

citizen and a trustworthy partner in building a relationships by protecting stakeholders’ rights and
sustainable future for all. by responding to their needs and concerns.
2. Customer Satisfaction – Deliver exceptional service 4. Business Integrity – Uphold high ethical standards
and provide convenient access to fair and affordable to sustain stakeholders’ trust and confidence.
financial solutions to help our customers achieve 5. Employee Success – Ensure our employees are
their financial goals at any life stage. engaged, fairly compensated, and provided with
opportunities to reach their full potential.
CREATION OF VALUE
STRONG
CORPORATE CUSTOMER BUSINESS EMPLOYEE
GOALS STAKEHOLDER
CITIZENSHIP SATISFACTION INTEGRITY SUCCESS
RELATIONSHIPS
BUSINESS OPERATIONAL CUSTOMER EMPLOYEE

OBJECTIVES GROWTH EXCELLENCE CENTRICITY ENGAGEMENT
ETHICAL CORPORATE
DRIVERS ENVIRONMENTAL PROTECTION SOCIETAL DEVELOPMENT
GOVERNANCE
China Bank’s Sustainability Strategy House

Our business objectives – business growth, operational

excellence, customer centricity, and employee
engagement – go hand-in-hand with our sustainability
goals. We believe in doing well by doing good; thus, our
actions and decisions are also driven by environmental,
social, and governance (ESG) considerations. Embedding Board of
sustainability in the business is a deliberate and Directors
conscientious decision from the top.
Our Board of Directors has the over-all oversight

responsibility for China Bank’s effective corporate
governance, risk management, and sustainability
frameworks. The Board is supported by the Senior
Management in the implementation of ESG activities. Senior
Management
The Sustainability Office, under the Office of the
Chief Operating Officer, is responsible for leading the
implementation of China Bank’s Sustainable Finance
Transition Plan. This involves inculcating a sustainability
mindset in the organization through capacity building,
sustainability reporting, and ESG Risk inclusion in banking
processes and standards.
Sustainability Working Group
The Sustainability Office is supported by the Sustainability Office of the COO, Sustainability Office,
Institutional Banking Group, Risk Management
Working Group composed of representatives from
Group, Compliance, Investor and Corporate
the Risk Management Group, Compliance Division, Relations Group
Institutional Banking Group and Investor and Corporate
Relations Group.
China Bank
Business Units

Stakeholder Engagement
102-40, 102-42, 102-43, 102-44
We share our long-term value creation commitments with our stakeholders.

Our regular engagement and open communication with our various
stakeholder groups enable us to understand their expectations and concerns,
and ultimately, to be a better and more responsive banking partner to them.
CUSTOMERS
SUPPLIERS EMPLOYEES
CHINA BANK
STAKEHOLDERS
REGULATORS SHAREHOLDERS
NON-
GOVERNMENTAL
ORGANIZATIONS
(NGOs)

Our Key Engagement Their Concerns Our Response

Stakeholders Channels
- Daily customer contact via With the decreased mobility We focused on ensuring our branches
branches, customer service due to quarantine restrictions, and digital channels remain available,
hotline, e-mail, and social our customers were mainly that robust security measures are in
media accounts concerned about banking access, place, and that customers can reach
- Customer Satisfaction security, and responsive service. us through various communication
CUSTOMERS
Survey channels for assistance.
- Bank-scheduled virtual
interactions via Economic
Briefing and Wealth
Management Forum
- Regular Management While our employees understand Aside from our logistical support to
Advisories that we must continue to be in ensure our people’s safety, like service
- Daily Health Check App the frontlines to provide essential vehicles and dedicated COVID testing
EMPLOYEES - Internal Customer banking services amid the centers, we launched a group-wide
Satisfaction Survey pandemic, their primary concerns vaccination program. We also switched
- Performance Appraisals were safety and flexibilities to to a modern workplace with Office
- Online and face-to-face continue learning and being 365 for easier communication and
interactions and meetings productive. collaboration whether onsite or working
- Retail Banking Business from home, digitized our training
National Convention programs, and made all our recognition
- Work-life Integration and work-life integration programs
Programs virtual.
- Town Hall meeting
SHAREHOLDERS - Annual Stockholders’ Our shareholders recognize We kept our shareholders apprised of
Meeting the impact of the pandemic on the Bank’s performance with timely
- Group Strategy Update businesses and the economy. and transparent disclosures. We also
- Participation in the SM Their major concern is if we can continued to improve our governance
Group’s quarterly investor sustain China Bank’s strength and practices to ensure our operations
briefings resilience to continue growing and remain fundamentally sound and
providing good returns. resilient.
NON- - Partnerships and The top concern of NGO’s is to China Bank has been involved in a
GOVERNMENT collaborations for a cause get support (financial and non- range of philanthropies, partnering
ORGANIZATIONS financial) for their projects and with various NGO’s to support worthy
(NGO’s) advocacies. causes.
- Regular Audits and Reports With the stringent regulatory We endeavor to maintain a mutually
REGULATORS
- Regular Bangko Sentral ng environment to ensure the beneficial relationship with our
Pilipinas examination stability of the financial system regulators by proactively collaborating
- Regular correspondences amid the pandemic, the with them to ensure that regulatory
through letters and e-mails regulators’ primary concern issuances are accurately interpreted/
continued to be compliance with applied, timely communicated and
the rules and regulations. properly implemented across all levels in
the organization.
- Online meetings The reopening of the economy We continued to be understanding of

- E-mail correspondences eased some of the supply the issues faced by our suppliers. We
- Accreditation and bidding chain challenges. But as some allowed some leeway to the extent
SUPPLIERS
process problems remained, our suppliers practicable.
were still mainly concerned with
meeting delivery due dates.

Materiality
102-46, 102-47
In addition to the topics covered in our GRI Content Index, we also

considered the following topics from the Sustainability Accounting
Standards Board (SASB) as material topics for commercial banks:
Incorporation
Data of ESG factors Business
Security in credit analysis Ethics
Activities involving Activities that determine Actions to control ethical

identification and address of commercial and industry issues such as fraud,
security risks. credit exposure of portfolio insider trading, anti-trust,
and integrate E&S aspects anti-competitive behavior,
in credit analysis. market manipulation,
malpractice, or other related
industry laws or
financial indu
regulations.
regula
g
Systemic Fi
Financial
Risk Inclusion and
Management Capacity
Building
Incorporation of results of Programs or actions

mandatory and voluntary designed to promote small
stress tests into capital businesses and community
adequacy planning, long- development, including
term corporate strategy, and financial literacy initiatives
other business activities. for unbanked, underbanked,
or underserved customers.

We plan to conduct a comprehensive materiality assessment in 2022 via

surveys and interviews to determine the level of impact of these material topics
to our business and to our stakeholders. The materiality assessment process
will be as follows:
Identification of material topics - China Bank will reference

international standards or frameworks, peer analysis, internal
STEP 1 indicators and company priorities in identifying material topics for
the Bank, the Philippine banking industry, and our stakeholders.
Stakeholder Identification – Randomly selected clients,

suppliers, partners, and employees will be requested to
STEP 2 participate in the materiality assessment.
Materiality Assessment via Survey – Survey will determine

identified perspectives on how the material topics are making
STEP 3 business impacts and influencing stakeholders to engage with
China Bank.
Materiality analysis via materiality mapping – Responses will

be analyzed to rank which topics belong to respective quadrants
STEP 4 (1st quadrant – High Business Impacts but low influence to
stakeholders; 2nd quadrant – Low Business Impacts and low
influence to stakeholders, etc.)
Preparation of narrative using materiality analysis – Results of

STEP 5 the analysis will be disclosed in the Sustainability Report.
The materiality assessment results will be discussed in the next edition of the
Sustainability Report.

SUSTAINABILITY
PERFORMANCE

SUSTAINABILITY PERFORMANCE
STRONG STAKEHOLDER
RELATIONSHIPS
103-1, 103-2
Protecting stakeholder rights

At China Bank, we value our stakeholders and we are committed to earn and maintain
their trust. Amid the challenges of the pandemic and the evolving business landscape,
we continue to protect our stakeholders’ interests and rights by ensuring the security of
transactions, understanding their concerns, and providing excellent service.
Data privacy Protecting the personal data of China Bank customers

is of utmost importance to us; thus, we are continually
investing to improve our data protection measures. The
We protect our customers’ confidential information
Bank has a Data Privacy Officer to ensure the Bank’s
as a way of building stronger relationships with our
compliance with the Data Privacy Act of 2012, its
stakeholders. China Bank’s data privacy policies and
implementing rules and regulations, policies, and related
measures are anchored on the principles of transparency,
issuances from the National Privacy Commission.
legitimate purpose, and proportionality. We also adhere
with the five pillars of compliance with existing data
privacy regulations: Customers’ data protection management
418-1
1. Commit to Comply
2. Know your Risks
China Bank has a Data Privacy Management Program to
3. Write your Plan
ensure that collection, recording, organization, storage,
4. Be Accountable
updating or modification, retrieval, consultation, use,
5. Be Prepared for Breach
consolidation, blocking, erasure, or destruction of
personal data is compliant with the requirements of the
Data Privacy Act of 2012, also known as RA 10173.

Sustainability Performance
The Privacy Management Program covers among others, Proactive approach in cyber threat
the identification and assessment of the privacy risks to management
customer information in each relevant area of operation,
and the design, implementation, and monitoring of our As we accelerate China Bank’s digital transformation,
data and privacy protection measures. In addition, the we continue to strengthen our security foundation with
program includes awareness and training to China Bank preventive, detective, and responsive layers, while
employees on general data privacy, confidentiality, and proactively enforcing cyber security governance bank
security standards for handling personal information and wide. At the onset of the pandemic, we redoubled
sensitive personal information. In 2021, no significant our cyber security efforts internally. We also created
data privacy breaches were recorded. a stronger awareness among our customers and the
banking public on the increased threat of scams and
online threats. We release security tips and reminders
Cyber security on China Bank’s website and social media accounts on
an ongoing basis. Security assessments and penetration
Our digital transformation enables China Bank to testing on our IT systems are also regularly conducted by
implement technologies, policies, and protective independent parties and our own in-house cyber security
mechanisms to facilitate safe and secure banking team to ensure the effectiveness of our controls. In 2021,
transactions. Cyber security is one of our top priorities no significant cyberattacks were recorded.
and we have a dedicated team that continuously
protects and monitors our systems against cyber threats
24 hours a day, 7 days a week. The Bank has a Chief
Information Security Officer (CISO) that is independent
from our IT Team and reports directly to the President.
CISO is responsible for the Bank’s Information Security
Program.
We adopted a methodical and diligent approach in

managing cyber threats and Information Technology (IT)
risks. In place is a Cyber Security Program that is aligned
with government and industry best security practices
to provide a safe and secure banking environment for
our customers. Our IT Team (China Bank Properties &
Computer Center, Inc.), led by the Chief Technology
Officer (CTO), work hand in hand with the Information Consumer protection
Security Office (ISO) and the Risk Management Group
(RMG) in managing and implementing the Bank’s IT We are committed to protecting and upholding
security strategy. Cyber security risks are among the consumers’ rights, including their right to information
risks regularly discussed in the Board’s Risk Oversight about our products and services, their right to data
Committee. No significant data privacy breaches were privacy and transaction security, their right to fair
recorded in 2021. treatment, and their right to redress.

-
The Board oversees China Bank’s over-all governance Branch customer feedback
of consumer protection mechanisms and is regularly
apprised of consumer-related developments that We also get customer feedback through our branches
could impact the Bank. The Board also monitors the nationwide. In 2021, we conducted a year-round survey
effectiveness of our Consumer Protection Framework to know how well we are serving our customers at our
which is anchored on the following pillars: branches.
1. Board and Management Responsibility

2. Consumer Protection Risk Management System Branch Customer Feedback/Survey Report
3. Institutional Culture
Attributes 2019 2020 2021
4. Disclosure and Transparency
5. Effective and Robust Complaints Handling
Overall Satisfaction 94% 96% 95%
Client interactions
Queue Time 93% 96% 95%
Our Customer Contact Center (CCC) ensures the
resolution of client concerns within the standard Account Opening 97% 98% 96%
turnaround time (TAT) of the Bangko Sentral ng Pilipinas
(BSP). The team, led by the Chief Consumer Assistance Deposit/Withdrawal 95% 97% 95%
Officer (CCAO), monitors and manages customer
feedback and complaints based on set guidelines, Branch Premises 96% 97% 96%
reports consolidated complaints to the Risk Oversight
Committee through the Risk Management Group, ATM Services 95% 98% 96%
and submits quarterly reports to the Supervisory Data
Center of the BSP. Security Guards 97% 98% 96%
In 2021, CCC handled 252,991 client calls, emails and

social media messages. Majority or 53% of these Customer assistance channels
interactions were inquiries; while only 5% were
complaints, 96% of which were resolved within set Online and offline, our customers can easily reach us for
standards. their banking/account inquiries or concerns. The details
of our various customer assistance channels, aside from
China Bank branches nationwide, are listed on page 154.
CLIENT INTERACTIONS
BY CALL TYPE
For reports on fraudulent activities or unethical behavior,
customers can use our Whistleblowing channel. See
12%
page 71 for details.
5%
For general information on China Bank, including
products and services and corporate developments,
Inquiry 53% customers can visit www.chinabank.ph.
Request
30%
Complaint
Others

CORPORATE
CITIZENSHIP
103-1, 103-2
Purpose beyond profit

Good business is not only about the bottom line. China Bank’s responsibilities go beyond
achieving financial targets and providing good shareholder returns. As we work hard to
grow our business, we take to heart our environmental and social responsibilities to help
build a sustainable future for all.
Managing environmental
footprint
102-11, 103-1, 103-2, 302-1, 303-1, 305-1, 305-2
Due to the nature of the business, the environmental

footprint of financial institutions is generally small.
Nonetheless, we measure and monitor our environmental
performance to ensure our impact is kept in check.
Action plans to reduce any significant increase in utility
consumption and waste generation are planned for
implementation in the coming year. We will continue
to engage our employees to progressively create an
environmentally-conscious workplace.

Electricity consumption Electricity Consumption (in MWh)
30,000
China Bank’s electricity consumption is driven by our 27,080
branches and corporate offices during normal operations. 25,000 1,245
22,306 22,449
This energy use constitutes our indirect emissions under 1,073
20,000 1,944
Scope 2, defined as emissions that came from sources
not owned or directly controlled by the company but 15,000 25,836 21,233 20,505
related to company activities. Similar to the situation
during 2020 COVID-19 surge, our 2021 consumption data 10,000
was also affected by the lockdowns and temporary branch

5,000
closures. For 2021, our electricity consumption was
22,449 MWh, a slight increase from 2020 consumption 0
2019 2020 2021
of 22,306 MWh.
Mindanao NCR, Luzon, Visayas
Indirect emission
Indirect Emission (in MT CO2e)
China Bank’s electricity consumption contributes to
19,371
indirect or Scope 2 emission. 2021 electricity consumption 20,000
16,797
translated to 16,797 MT CO2e indirect emission, which 15,959
15,000
is proximate to the emission figures in 2020. Fuel
consumption from third party sources amounted to 678
10,000
MT CO2e.
5,000
Fuel consumption of owned vehicles and
direct emission 0
2019 2020 2021
Greenhouse gas emissions emanating from Bank-owned

assets such as vehicles refer to direct emissions under
Direct Emission (in MT CO2e)
Scope 1. Due to an improved data collection process in
2021, China Bank has accounted for more data sources 20,000 19,064
compared to previous years. This resulted to an increase
15,000
in the 2021 fuel consumption amounting to 509,753
Liters in 2021, which translates to a total of 19,064 MT 10,371
10,000 8,381
CO2e Scope 2 emission.
5,000
0
2019 2020 2021
Emission Scope 2021 2020 2019

Total Direct Emission (Scope 1), MT CO2e 19,064 10,371 8,381
Total Indirect Emission (Scope 2) , MT CO2e 16,797 15,959 19,371

Water consumption
Water Consumption (in cubic meters)
Water usage of our branches and corporate offices
350,000
was at 306,333 cubic meters in 2021. Increase in 306,333
300,000 277,389
water consumption in 2021 compared to 2020 data
250,000
signified more branches are already submitting data for 220,255
environmental performance monitoring. An improved 200,000
data collection process contributed to more robust water 150,000
consumption data from the branches and administrative 100,000

offices. 50,000
0
2019 2020 2021
Adapting to a sustainable
more granular assessment of Environmental and Social
regulatory environment risk at the borrower level and integrating the assessment
as part of the credit rating and Expected Credit Loss (ECL)
The Bangko Sentral ng Pilipinas (BSP) issued Circular 1128
computation.
in 2021. Related to BSP’s earlier Circular 1085 which is
focused on Sustainable Finance Framework, Circular 1128
We will continue to undertake further action on this and
further strengthens the necessity for financial institutions
disclose them as we progress.
to integrate Sustainability principles in their banking
processes; in particular, the integration of Environmental
and Social risks to the bank-wide risk management
processes. Environmental and Social
Management System (ESMS)
In response, we continue to work on fulfilling and
improving China Bank’s Sustainable Finance Transition China Bank has an Environmental and Social Management
Plan with the additional actions linked to the new circular. System (ESMS) approved by the Senior Management.
We also began developing an exploratory plan for It is used as a reference for identifying and managing
incorporating environmental and social risk exposure in the Environmental and Social risks of projects eligible
our lending process. for financing or re-financing under China Bank’s green
bonds, with International Finance Corporation (IFC) as
In 2021, as part of China Bank’s business planning and the sole investor. China Bank’s ESMS follows a process
long-term goal setting, we developed a two-year roadmap which includes transaction screening, E&S assessment
for the integration of environmental and social (E&S) risk and risk categorization, E&S due diligence process,
assessment in the overall credit risk management process presentation and decision-making, and disbursement.
by 2023. The first phase of the roadmap is focused on the We are expanding the scope of ESMS to cover other
identification and measurement of E&S risk in the Bank’s eligible projects, particularly renewable energy, which will
portfolio, with emphasis on high-risk E&S exposures. The also undergo E&S risk assessment by the Sustainability
second phase, on the other hand, is geared towards a Office prior to financing.

Enabling sustainable finance
We support projects that would help create a sustainable with International Finance Corporation (IFC) Performance
future, like renewable energy and green building Standards and local regulations. Environmental and
infrastructure. China Bank’s Senior Management leads the Social issues and concerns are brought up to the Senior
incorporation of Sustainable Development aspects in the Management level to be addressed prior to financing.
financing evaluation mechanism. The Institutional Banking
Group (IBG) and the Sustainability Office ensure that Net proceeds from the issuance of Green bonds or other
Environmental and Social requirements are considered sustainability bonds/ loans are used to finance/ refinance
in Sustainable Finance transactions. The investment sustainable development projects. This includes projects
evaluation of Environmental and Social aspects is aligned focused on environmental and social issues.
Category Projects and Activities

Renewable energy Projects that enable generation of energy from renewable sources such as, but
not limited to solar, wind, hydro, biomass, geothermal, and tidal
Energy efficiency Projects that can decrease energy consumption or improve energy usage
efficiency
Water management Water recycling and water re-use projects
Waste management Projects that can reduce solid waste and GHG emission including recycling and
methane capture from waste
Sustainable infrastructure Green buildings and road construction
Sustainable transportation Government-supported transportation vehicles, electric cars, and hybrid

vehicles
Agricultural Agricultural crops and livestock, including machineries and equipment that can
improve agricultural process
Affordable housing, Provide access to loan products for low-income population

basic infrastructure, and
consumer loans
Essential services and Hospitals, clinics, pharmaceutical products, educational institutions, and other
social projects learning facilities

Community development
102-12, 413-1
As we pursue growth, we also give back to help uplift

society in these challenging times. We create long-term
value by utilizing our financial and intellectual capital to
promote financial literacy, to make banking accessible
to the unbanked and underserved sector, to encourage
charitable giving among our ranks, and to help in relief
and rehabilitation efforts in times of disasters.
• China Bank employees donated through the Human

Resources Group’s Personal Social Responsibility
Program (PSRP) to buy medical supplies for the elderly
wards of Kanlungan ni Maria in Antipolo and Christmas
Noche Buena packs for the Bank’s service personnel.
• China Bank had a donation drive to help those who

were affected by typhoon Odette, a tropical cyclone
that hit Southern part of the Philippines.

CUSTOMER
SATISFACTION
203-1
Meeting expectations
Our customers’ success is our business. Thus, we are driven to deliver exceptional
service to meet the needs and expectations of our customers and to provide convenient
access to fair and affordable financial solutions to help them achieve their financial goals
at any life stage.
Digitalization
We continue to provide high quality banking experience
to meet the needs of our multi-generational clients.
Our digital banking initiatives aim to enhance customer 103%
experience and facilitate convenient and secure remote increase in digital banking
banking to address the safety and mobility constraints in transactions in 2021
these difficult times.
182%
Initiatives in digital banking increase in InstaPay utilization
in 2021
• Launched ChinaBankSec Online, a platform that
enables investors to buy and sell stocks from their
mobile phones, tablets or computers.

• Implemented InstaPay 2.0 Multi-proxy feature,

enabling customers to transfer funds using a mobile
Financial inclusion
number or email address, instead of an account
We recognize the importance of easy access to financial
number. China Bank was one of the pioneering banks
products and services for all. We are committed to
to go live with this feature.
make our banking products and services affordable and
accessible to customers of any social class.
Support for MSMEs and retail investors
JUST SCAN TO PAY • Helped boost the digitalization of small businesses

by being one of the seven participating institutions in
China Bank is committed to BSP’s QR Ph for person-to-merchants or QR Ph P2M.
empower Filipinos though
financial literacy and technology. • Actively sold and promoted the government’s
The Bank was a pilot participant in InstaPay, launched Premyo Bonds, Retail Treasury Bond 26 (RTB 26),
in 2018, and was one of the initial six participants in the and Retail Dollar Onshore Bonds which enabled
pilot launch in 2019 of the National QR Code Standard, retail investors to invest as low as P500, P5,000,
QR Ph for person-to-person payments or “QR Ph P2P”. and US$300, respectively. China Bank Capital served
When the COVID-19 pandemic struck in early 2020,
as joint issue manager for these bond offerings.
digitalization took on greater urgency and more people
embraced digital banking and contactless payment. In
April 2021, QR Ph for person-to-merchant payments or
• Launched Systematic Investment Plan (SIP), an
“QR Ph P2M” was launched by the BSP to boost the investment service for regular and automatic
digitalization of small businesses, and China Bank was subscription to China Bank’s Unit Investment Trust
again one of the seven participating institutions in the Funds (UITF)
pilot run.
To help drive QR Ph adoption, we launched the Pay-to-

Scan feature in our mobile app which can be used at any
retail establishment or online store with a QR Ph code.
The feature is interoperable across all major payment
platforms, and there is no need to transfer funds to
an e-Wallet as payment is debited directly from the
customer’s China Bank account.
To pay, customers can simply tap “Scan to Pay or

Transfer” on the China Bank Mobile App, scan the QR
Code, and confirm the purchase by entering the one-
time password sent to their mobile phone. The service
is free of charge.

Remittance service access for the Muslim
Community
Added a new cash pick-up partner, Al-Amanah Islamic In pursuit

Investment Bank of the Philippines (AAIIBP), to better of financial
serve the OFW families in the Mindanao region.
inclusion
Lending to the education sector
China Bank Savings implemented a lending program for China Bank’s retail banking arm, CBS, is expanding its
public school teachers and DepEd staff, wherein qualified market reach, particularly in the countryside to further
participants can borrow P1 million without collateral, promote financial inclusion. Aside from opening two
payable in 12 to 36 months. regular branches in 2021, CBS opened 11 kiosk-
type shops or branch-lites, ending the year with 160
branches and 16 branch-lite units.
Enabling an inclusive insurance
coverage “As a bank, we are genuinely concerned about
promoting ‘easy banking access for all’ to contribute
Manulife China Bank Life Assurance (MCBL) launched to the rapid recovery of the communities we serve.
Legacy Secure, in which the policyholders are guaranteed Our expansion effort is focused on making financial
with life insurance coverage until age 100. services highly accessible to teachers and staff of
public schools through these CBS branch-lites,” said
MCBL also launched Secure Pinoy. It is an affordable life CBS President James Christian T. Dee.
insurance plan for minimum to average wage-earning
Branch-lites are simplified service outlets from the
clients. With Secure Pinoy, a PhP 1 per day or PhP 500
prescribed brick-and-mortar space. They may be
per year contribution enables clients to life protection and
set up to extend limited to full banking services in a
medical reimbursement coverage.
marketplace or any location that is more accessible
to low-income Filipinos. CBS branch-lites accept and
process Easi-APDS loan applications.
13% “Our branch-lites are designed to provide our

customers with warm, personalized service, with
increase in number of people who the assurance that business is conducted safely and
availed health and life insurance comfortably,” said Dee.
under MCBL
From the original focus on consumer banking, CBS
has grown its franchise to include small enterprise
77% and specialized lending segments like public school
teachers and Department of Education employees.
increase in premiums for MCBL
insurance in 2021

EMPLOYEE
SUCCESS
103-1, 103-2, 102-7, 102-8, 401-1
Ensuring talent management and well-being

China Bank’s strength and resilience through the years are largely because of our partners
in success—China Bankers. We take good care of our employees, treating them fairly and
equally, helping them reach their full potential, and building a good working environment
to drive productivity and earn their loyalty.
Human Resource Management Recruitment
People are key to business success. Our human We utilize social media and job portals to search for
resources policies, systems, and practices are designed qualified candidates. In addition, we have a successful
and constantly improved to ensure we are able to referral program that enjoins our current employees to
attract, engage, and develop people to achieve both take part in the search. Our total workforce in 2021
their personal aspirations and China Bank’s business reached 9,770, of which 9,747 are permanent and 23
goals. As the 21st century workplace is reshaped by the are fixed-term employment. There are also 1,030 new
pandemic and other developments, we will continue hires in 2021. We recorded a turnover rate of 11.31%,
adapting and improving while preserving what makes which is 58% higher than in 2020, but still lower than
us uniquely China Bank. pre-pandemic years.

Effective recruitment program
Our own employees are the best sources for candidates Total New Hires
as they know the right fit for the Bank. China Bank’s
Internal Recruitment Drive, now on its 16th year,
2020 713
continued to be very effective, accounting for about 48%
of the new employees hired in 2021. Open positions/ 2021 1,030
Job vacancies filled by internal candidates is 944.
Hiring Rate
Fair compensation
201-3, 401-2, 401-3 2020 7.25%
We ensure gainful employment, providing our full- 2021 10.51%

time employees with competitive salary (basic salary,
bonuses, overtime pay, profit sharing, and performance-
based increase) and fringe benefits (HMO, group By Gender
insurance coverage, paid leaves, allowances, employee 2020 269 444

loans, car plan for officers, and retirement benefits). We
also have different parental leave types – Solo Parent 2021 383 647
Leave, Paternity Leave and Maternity Leave. Total Male Total Female
A total of 831 employees availed parental leaves, and By Age Group

the over-all retention rate after parental leaves is 92.9%.
2020 531 152 30
Employees remain employed with China Bank even after
having their leaves to take care of their families. 2021 744 253 33
Below 30 years old Above 50 years old
Between 30-50 years old
TOTAL HEADCOUNT
By Gender
2020 3,175 6,650

Promotions - By Gender Internal Hiring
2021 3,214 6,533
9,825 9,747 Total Male Total Female
950
By Level
944
609 648
2020 6,116 3,359 350
551
320
2021 5,930 3,441 376
2020 2021 2020 2021
Rank-and-File Senior Management
Female Male Open Positions/Job Vacancies
2020 2021 Junior - Middle Management Filled by Internal Candidates
By Age Group
2020 4,905 4,212 708
2021 4,602 4,370 775
Below 30 years old Above 50 years old

Between 30-50 years old

Employee engagement
SEPARATED EMPLOYEES
We keep our employees engaged and motivated to
Total Separations By Separation Type maintain productivity, but more importantly, to ensure
their mental health and well-being amid this pandemic.
1,108 100 We have various programs to drive meaningful
Voluntary
Involuntary collaborations, work- life balance, and a deeper sense of
703 85
loyalty and camaraderie.
618 1,008 Rewarding loyalty

• Issued 5,388,400 China Bank shares to over 8,300
employees under the Centennial Stock grant plan. The
2020 2021 2020 2021 grantees received 100 China Bank shares for every
year of service.
By Gender • China Bank recognized over 441 employees who
2020 254 449 rendered 10 to 45 years of service during the virtual
service awards.
2021 344 764
Total Male Total Female
Creating a safe and nurturing work
environment
By Age Group
• Rolled out a group-wide vaccination program and
2020 415 203 85 conducted webinars on Covid-19 safety.
2021 679 335 94 • Sustained the Work-life Integration Program with
Above 50 years old Below 30 years old various online trainings to help employees effectively
Between 30-50 years old manage their finances, manage stress, learn a new
skill, and adopt an active and healthy lifestyle.
Turnover rate
2020 7.15%
Performance appraisal
2021 11.31%
Our Performance Management System ensures that all

our employees know their specific deliverables and that
their individual performance is objectively evaluated to
drive continuous improvement. In addition, we have a
Succession Management Program to identify potential
successors for Senior Leadership positions.
A total of 1,501 employees were promoted in 2021. Female

promotion is 63%, while male promotion is 37%.

Training and education
404-1, 404-2
TRAINING HOURS
We are committed to helping our people reach their full
potential. In place are various training and development
programs to drive our employees’ professional and
personal growth and to help maximize individual and 2020 203,573
organizational capabilities.
2021 180,270
In 2021, we recorded a total of 180,270 training hours,
which translates to 18.45 training hours per employee.
More female employees are attending China Bank’s
training programs with 71% training hours compared to
29% for male employees. TRAINING HOURS
By Gender
The total amount invested for talent development was
PhP 13.4 million, or PhP 1,374 per employee . All trainings 58,060 52,815
were conducted virtually. 2021
2020
145,513 127,455
Learning in the new normal
Female
Male
The pandemic is not a hindrance for continuous learning.
We pivoted our usual face-to-face training sessions into By Level
engaging virtual lessons accessible though China Bank 2,724 6,366
328
Academy’s e-learning portal. 41,110
142,453 92,347
Targeted professional development 17,286 2020 2021

81,229
We have flagship development programs to hone the
skills and knowledge of our employees in different levels
Senior Management Junior Management
of our organization:
Middle Management Rank-and-File
• Supervisory Development Program – for rank & file
employees who have the potential to assume first-
line leadership roles. INVESTMENTS ON TRAINING
• Junior Executive Development Program – for middle Total Amount Spent on Training (PHP)
managers who are being developed to take on for
2020 14,190,000
more leadership responsibilities.
• Branch Heads Training Program – for branch managers 2021 13,426,829
to develop and strengthen their competencies to
effectively lead their branches. Amount Spent on Training per Employee (PHP/
employee)
2020 1,443
2021 1,374

Health and safety Fatalities and Lost-time injuries -

403-2
Employees
We have health and safety policies and procedures that are
kept updated with the latest regulations and industry best No. of Lost-time Injuries
practices and standards. In addition, we have emergency
procedures and evacuation plans in case of disasters 2020 6
and calamities, and health and wellness program to
help manage work-related stress and to minimize cases 2021 336
of work-related ill health. We also aligned our various

workplace policies in compliance with RA 11058 (An Act Employee total hours worked
Strengthening Compliance with Occupational Safety and
Health Standards): 2020 8,048,054
• Drug-free workplace policy 2021
14,141,535
• Tuberculosis Prevention and Control in the workplace
policy
Company Lost Time Injury Frequency Rate (LTIFR) -
• Hepatitis B Prevention and control in the workplace Employees
policy
2020
0.00007%
• HIV and AIDS Prevention and control in the workplace
2021
policy 0.00238%
• Breastfeeding policy
The Occupational Safety and Health Committee also

ensures implementation of occupational health and
safety standards across the Bank.
Calamity response
We ensure that our employees are taken care of in the

event of natural disasters. Calamity assistance in the
form of financial assistance and Calamity Leave were
provided to employees who were affected by Typhoons
Odette and Marin in 2021 in accordance with the
Calamity Assistance policy guidelines of the Bank. The
total calamity financial assistance extended by the Bank
in 2021 was P2.24 million.

Diversity and equal
COVID-19 vaccination drive
opportunity
405-1, 406-1
We protect our employee’s right to work in a healthy and
safe environment. In addition to adapting our workplace
We have more female employees than male for the past
health and safety protocols to the current context and
three years. Out of the total 9,770 employees in 2021,
situation, we strongly encouraged our employees to
6,552 were women. In addition, more junior and senior
be vaccinated, including getting the booster shot. To
leadership positions were held by women. In fact, 18%
expedite the vaccination of our employees, the Bank spent
of middle and senior management positions are occupied
P6.81 million in 2021 for the purchase and inoculation of
by female employees. Fair, transparent, and performance-
primary and booster vaccines which began June of 2021.
based compensation is accorded to all employees
As of December 31, 2021, 96% of our employees was
regardless of gender. No incidents of discrimination cases
already fully vaccinated with primary series and 6.2%
were filed by any China Bank employee in 2021.
was already vaccinated with booster shot.
• Implemented the China Bank Group Vaccination
Program, in cooperation with the SM Group, to
BREAKDOWN OF EMPLOYEES
provide employees with the utmost protection
PER LEVEL
against the virus and to achieve herd immunity.
• Secured approval from Makati LGU and city health
office to certify Buendia Car Exchange as China
Bank’s vaccination site 146 204 155 221
1,526 1,811 1,555 1,783
864 2020 919 2021

613 610
356 4,311 357 4,147
Female Junior Management Female Senior Management

Male Junior Management Male Senior Management
Female Rank-and-File Female Middle Management
Male Rank-and-File Male Middle Management

Collective Bargaining
Agreement BREAKDOWN OF EMPLOYEES
102-41 PER GENDER AND SPECIFIC SKILLS
We uphold employees’ freedom of association and

collective bargaining rights in compliance with the Labor
code. We also maintain a good relationship with the union Female Male
groups of both China Bank and CBS.
China Bank’s Collective Bargaining Agreement (CBA)

was signed in 2020 and will be expiring in 2022, while
CBS’ CBA, concluded in 2019, will be up for negotiation
155 11
in 2024. Open communication has been established over
the years between management and our labor unions to Employees Employees in
5 Engineering-
discuss labor-related concerns or issues. In 2021, 53.7% in IT-related
139 positions related
of our workforce was covered by CBA. positions
166 670
Employees in Employees in
STEM-related Sales-related
positions positions
144 968

BUSINESS
INTEGRITY
103-1, 103-2
Upholding strong governance

At China Bank, good corporate governance is a necessary component of what constitutes
sound strategic business management. Our governance practices are guided by the
principles of fairness, accountability, integrity, and transparency. The Board of Directors
sets the tone for China Bank’s governance beyond compliance, even amid the pandemic.
Significant developments in 2021 • Put in place a 3-year Transition Plan towards the
102-12 formulation of the Bank’s Sustainable Finance
Framework.
In 2021, along with the regular best governance practices, • Granted around 5.4 million common shares to eligible
key initiatives were implemented to further strengthen employees, in recognition of their contribution to
our position as one of the best governed companies in the Bank and to foster a culture of ownership and
the region. These practices and initiatives include the commitment, in line with the Bank’s 2020 Centennial
following: Stock Grant Plan.
• Amended the Bank’s By-Laws, to comply with BSP’s • Updated the Corporate Governance Manual to align
Manual of Regulations for Banks and the Revised with recent rules, regulations, and international
Corporation Code of the Philippines. practices.
• Enhanced the Board Committee Charters and Board
• Conducted the virtual Annual Stockholders’ Meeting, Self-Assessment Forms.
allowing stockholders to exercise their voting rights • Performed the annual assessment for the Board,
through a secured electronic registration and voting Board-level committees, Independent Directors,
facilities. Compliance Division, External Auditor, and the
President.

• Adopted the Conflict of Interest and RPT disclosure Corporate Governance Manual
form for newly elected directors/re-elected directors.
• Elected the Bank’s 4th independent director during the China Bank’s Corporate Governance Manual contains
Annual Stockholders’ Meeting since an independent the Bank’s governance policies and structure, the duties
director’s term has expired. and responsibilities of the Board and the individual
• Conducted the online corporate governance training directors, the compliance system and internal controls,
for the Bank’s directors and key officers, facilitated by and the guidelines on communication and the protection
the Institute of Corporate Directors. of the rights of various stakeholders, among others. The
• Restored the China Bank Binondo building, now Manual is kept updated to align with latest regulatory
recognized as part of national history. issuances and international best practices. Compliance
with the Manual is monitored by the Chief Compliance
Code of Ethics and Governance Officer (CCGO). In 2021, China Bank
was fully compliant with all the material provisions of the
The Bank is committed to conduct its business in an Corporate Governance Manual.
honest and ethical manner, well guided by its core
values, namely: integrity, high performance standards, Governance structure
commitment to quality, customer service focus, concern 102-18, 102-26
for people, efficiency and resourcefulness, and initiative
in carrying out its functions and in dealing with its clients. The highest governing authority in China Bank is the
China Bank’s Code of Ethics for Employees and Directors Board of Directors. The Board sets the tone, defines our
sets the guidelines for ethical and professional business organizational culture and values, leads the practice of
conduct and articulate our strict policy against any criminal ethical and responsible business conduct and upholds a
or illegal activities, not limited to financial misreporting, “beyond compliance” approach to corporate governance.
money laundering, fraud, bribery or corruption. The Senior Management team, led by the President,
takes charge of executing strategies to meet business
All new directors and employees are given a copy of objectives and provides over-all guidance on the day-to-
the Code, required to acknowledge receipt thereof, and day management of business operations.
undergo the New Employees’ Orientation Course wherein
the Code is comprehensively discussed. Adherence to
the Code is mandatory.
Governance Principles
Fairness Accountability Integrity Transparency

We treat our shareholders We are accountable and We adhere to a moral code of We are truthful and forthcoming,
fairly and equitably – whether responsible for our actions honesty and professionalism ensuring the accurate and
minority or majority, local or and performance and commit in our thoughts, words, and timely disclosure of and easy
foreign. We balance our profit to uphold the law, behave actions. access to all material matters,
motive, ensuring that the ethically, and protect such as the financial situation,
investment of all shareholders is the resources entrusted performance, ownership, and
protected. in our care. governance of the corporation.

Organizational Chart
As of April 18, 2022
BOARD OF DIRECTORS
BOARD COMMITTEES
RELATED PARTY EXECUTIVE TRUST CORPORATE

REMUNERATION NOMINATIONS INVESTMENTS AUDIT RISK OVERSIGHT COMPLIANCE GOVERNANCE
TRANSACTIONS COMMITTEE
CORPORATE
SECRETARY
Leilani B. Elarmo
OFFICE OF THE
VICE CHAIRMAN
*Corazon I. Morando
Gilbert U. Dee TRUST & ASSET RISK COMPLIANCE
End of engagement effective BOARD OF TRUSTEE MANAGEMENT AUDIT DIVISION MANAGEMENT DIVISION
12/31/2021
OF CBC GROUP Ronald R. Marcaida
GROUP Aileen Paulette S.
RETIREMENT Mary Ann T. Lim Ananias S. Cornelio III
De Jesus
PRESIDENT
William C. Whang
MANAGEMENT
CREDIT COMMITTEE
COMMITTEE
INFORMATION
ASSET & LIABILITY
TECHNOLOGY
COMMITTEE
STEERING COMMITTEE
INFORMATION
SECURITY OFFICE
SECURITY OFFICE Nestor Jason V. Camba Jr.
Hanz Irvin S. Yoro
CHIEF OPERATING
OFFICER
Romeo D. Uyan, Jr.
INSTITUTIONAL &
OPERATIONS
ADVISORY
COMMITTEE
Mani Thess Q. Pena-Lee
BUSINESS SOLUTIONS BUSINESS DEVELOPMENT

Francis Andre Z. & SUPPORT
De Los Santos Angelyn Claire C. Liao
RETAIL BANKING INSTITUTIONAL CONSUMER BUSINESS FINANCIAL MARKETS BUSINESS

CHINA BANK BUSINESS FINANCE SEGMENT CORPORATE
BANKING SEGMENT SEGMENT SEGMENT OPERATIONS
SAVINGS SEGMENT SUPPORT SEGMENT Patrick D. Cheng SUPPORT SEGMENT
Lilian Yu Aloysius Jr. C. Alday Magnolia Luisa N. Palanca
James Christian Rosemarie C. Gan
T. Dee
MULTI-PURPOSE
CREDIT CARD LOANS AND TREASURY WEALTH CREDIT INVESTOR &
MARKET SALES CENTRALIZED LEGAL & HUMAN RESOURCES DIGITAL BANKING
CB CAPITAL CONSUMER LOANS FACTORING RELATIONS CORPORATE
BUSINESS Christopher Ma. MANAGEMENT OPERATIONS MANAGEMENT COLLECTIONS Maria Rosanna BUSINESS
Ryan Martin L. Tapia Lilibeth R. Cariño **Jeffferson T. Ko RELATIONS
*Valerie G. Valera Antonio Jose S. Carmelo Y. Salazar Angela D. Cruz Delia Marquez Melissa F. Corpus Belenette C. Tan Catherina L. Testa Manuel C. Tagaza
Dominguez Gerald O. Florentino
*Officer In Charge *Adviser effective **Special Project *Alexander C. Escucha

effective 3/1/2022 3/1/2022 to 12/31/2022 Engagee Retired effective 12/31/2021
CB SECURITIES CB INSURANCE CB PCCI

Marisol M. Teodoro Frankie G. Panis Manuel C. Tagaza

Separation of roles • approves the director and management succession

plan
Our Chairman and President work in close cooperation • oversees the development and implementation of
with one another, but their roles are kept separate with internal control systems and sound policies
a clear division of duties and responsibilities to foster • approves and oversees the implementation of
appropriate balance of power, increased accountability, the various frameworks on corporate governance
and better capacity for independent decision-making by enterprise risk management, business continuity,
the Board. Our Chairman is responsible for the leadership sustainability, and consumer protection
and effective running of the Board, while our President • sets and oversees the environmental, social, and
leads the management team in the day-to-day running governance initiatives
of China Bank to execute the strategies and achieve the
objectives approved by the Board. The China Bank Board is composed of twelve directors
and one advisor, commensurate with the size and
Board of Directors complexity of our operations. Two of the directors
are executive directors and the rest are non-executive
The China Bank Board has the overall responsibility for directors. To ensure a strong element of independence,
the institution’s long-term success and sustainability. To we have four Independent (non-executive) Directors,
achieve this, the Board, among others: including the Lead Independent Director. The Bank’s
• defines the corporate culture and values Independent Directors are independent of management
• approves the business objectives and strategies, and and major/substantial shareholders, and free from any
oversees its implementation business, family or any other relationship with the Bank,
• appoints key members of senior management and which could affect their judgment. The profiles of our
heads of control functions directors are on pages 84 to 87.
Lead Independent Director Independent Director Executive Director Non-Executive Director
• Has sufficient authority to • Holds no interests or • Has executive responsibility • Has no executive
lead the Board in cases relationships with China Bank, of day-to-day operations of responsibility and does not
where Management has clear the controlling shareholders, a part or the whole of the perform any work related
conflict of interest or the Management organization to the operations of the
that would influence his corporation
• Serves as an intermediary decisions or interfere with
between the Chairman and his exercise of independent • Provides objective judgment
the other directors when judgment, among others independent of management
necessary
• Also a non-executive director • Challenges and monitors
• Also a non-executive director management's delivery of
• Provides objective judgment strategy within the risk and
• Convenes and chairs meeting independent of management governance structure agreed
of the independent directors by the Board
and/or non-executive directors • Oversees management
without the presence of the performance, including • Has oversight responsibility
executive directors prevention of conflict of for the Bank's internal control
interest and to balance and effectiveness of the risk
competing demands of the management system
corporation

Board of Directors
Year First No. of Years
Name Designation Directorship Age
Elected as Director
Hans T. Sy Chairman Non-executive 66 1986 36
Gilbert U. Dee Vice Chairman Executive 86 1969 53
William C. Whang Director & President Executive 63 2017 5
Peter S. Dee Director Non-executive 80 1977 45
Joaquin T. Dee Director Non-executive 86 1984 38
Herbert T. Sy Director Non-executive 65 1993 29
Harley T. Sy Director Non-executive 62 2001 21
Jose T. Sio Director Non-executive 82 2007 15
Alberto S. Yao Lead Independent Director* Non-executive 75 2004 17
Margarita L. San Juan Lead Independent Director** Non-executive 68 2017 5
Philip S. L. Tsai Independent Director Non-executive 71 2018 4
Claire Ann T. Yap Independent Director Non-executive 66 2020 2
Genaro V. Lapez Independent Director*** Non-executive 64 2021 1
Ricardo R. Chua Advisor N/A 70 N/A N/A
*Lead Independent Director until the expiration of his term on May 6, 2021
**Elected as Lead Independent Director on May 6, 2021
***Elected Independent Director on May 6, 2021
Nomination and election

102-24
In place is a rigorous and transparent procedure for the In case of vacancy, our By-Laws provide the procedures to
nomination and election of directors, undertaken by the be observed in accordance with the Revised Corporation
Nominations and Corporate Governance Committees, Code of the Philippines. We use professional search
to ensure that only qualified, fit and proper candidates firms or other external sources to search for a suitable
are considered for election to the Board. We have clear replacement (see Retirement and Succession on page
Nomination Rules that are reviewed and updated annually 65). For incumbent directors, the Nominations Committee
and posted on the Bank’s website. evaluates the results of the Board self-assessment and
their attendance and participation in board meetings.
Nomination Process
Shareholders on record The Nominations The full Board confirms The shareholders The Monetary Board
nominate candidates by Committee reviews the candidates’ elect the directors confirms the election
submitting the nomination and evaluates the nomination during the Annual of the directors
form to any member of the qualifications of the Stockholders’ Meeting
Nominations Committee, candidates in line
the Corporate Governance with the fit and proper
Committee, or the Corporate standards as prescribed
Secretary within the in the Manual of
prescribed date Regulations for Banks
1 (MORB)
2 3 4 5

Board diversity
China Bank has a Board Diversity Policy which states,

among others, that the Board should be composed
of directors with a collective working knowledge,
educational background and experience or expertise that
is relevant to the Bank’s industry, and that there should be
50% 50%
an appropriate mix of skills, competence and expertise, Tenure
20 years over
etc. The Board ensures that its members remain and under 20 years
qualified for their positions individually and collectively
in order to operate effectively, and be able to fulfill its
roles and responsibilities and respond to the needs of the
organization based on the evolving business environment
and strategic direction. For more diversity, we have two
(2) female Independent Directors in our Board. Board Experience/Skills
8%
B.S. in Mechanical
Engineering
Board Demographics 25%

B.S. in Business 42%
Administration and
Degree B.S. in
33% B.S. in Business
Commerce
65 and Administration
and B.S. in
Major in Financial
under Commerce Major
Management/minor
in Accounting/
in Accounting
Age Finance/Business
25% Management
B.S. in Banking /
Management/
67% Accounting/
over 65 Management
Engineering
17%
Female of the directors are skilled and
experienced in banking/operations,
100% management, finance, marketing/

sales, investment, risk management,
accounting, credit, anti-money
Gender laundering, and internal control
83%
Male

Induction and continuing education In 2021, each member of the Board of Directors received
102-27 the following amount as compensation:
New directors undergo an orientation program from an Hans T. Sy P6,436,400

SEC-accredited training provider and they also receive Gilbert U. Dee 6,344,200
an orientation kit containing the Specific Duties and William C. Whang 6,421,600
Responsibilities of Directors, Corporate Governance Peter S. Dee 6,423,450
Manual and applicable Board Committee Charters,
Joaquin T. Dee 6,450,300
among others. All of our directors attend the mandatory
Herbert T. Sy 6,168,500
annual governance training facilitated by an SEC-
Harley T. Sy 6,247,750
accredited institution to continually update and expand
Jose T. Sio 6,222,750
their knowledge of governance practices and market
Alberto S. Yao (a) 6,287,150
developments and to ensure they are updated with the
latest regulations and industry best practices. Refresher Margarita L. San Juan 6,399,200
training and information sessions to address current Philip S.L. Tsai 6,422,150
business or emerging trends and issues are arranged by Claire Ann T. Yap 2,341,550
the Compliance Division, as needed. Genaro V. Lapez(b) 115,000
(a)
Lead Independent Director until the expiration of his term on May 6, 2021
(b)
Elected Independent Director on May 6, 2021
On September 1, 2021, our directors, key bank and
subsidiary officers attended the Annual Corporate
Governance Training, organized by Compliance Division Performance evaluation
102-28
and facilitated by the Institute of Corporate Directors. The
topics discussed were Digital Transformation, Corporate The Board, all Board-level Committees, individual
Governance in a Nutshell: What Effective Boards Focus Directors, and the President annually accomplish a self-
on Before Everything Else, and Anti-Money Laundering evaluation to assess their individual effectiveness and
Updates. collective performance, as well as to identify areas for
improvement. The Compliance Division summarizes
Board remuneration the results of the evaluation and reports it to the Board
through the Corporate Governance Committee. A 5-point
The amendment to the Bank’s By-Laws* included scale rating system is used for the self-assessment. The
the increase in the per diem of the directors up to ten lowest is 0, equivalent to “Poor”, and the highest is 5,
thousand pesos (P10,000.00) for attending a regular Board equivalent to “Excellent”.
or Committee meeting, or any other regular or special
meeting as may be determined from time to time. Directors Rating Description
also receive a portion of the net earnings. Executive Poor – Leading practice or principle is not adopted
directors get performance-related compensation based 0
in the company’s Manual of Corporate Governance
on their performance, banking experience, position, and Needs Improvement – Leading practice or principle
rank, while non-executive directors do not receive any 1 is adopted in the Manual but compliance has not yet
performance-based compensation. been made
Fair – Leading practice or principle is adopted in the
2-3 Manual and compliance has been made but with
major deviation(s) or incompleteness
Good – Leading practice or principle is adopted in
4 the Manual and compliance has been made but with
minor deviation(s) or incompleteness
*As approved by the BSP on February 24, 2022, thus enabling us to Excellent – Leading practice or principle is adopted
register with SEC. 5 in the Manual and full compliance with the same
has been made
The self-assessments focus on the following key • The Directors are generally satisfied with the
aspects: progress the Board has made to enhance its
effectiveness.
A. For the Board as a whole:
• Structure (size and composition; skills, expertise and • The size and level of independence within the
competencies) Board and Committees are deemed appropriate.
• Organization and functioning (conduct of meetings,
• The committee leadership is deemed effective and
quality of reporting, training areas, reporting by
operates on a high level of competency.
committees)
• Dynamics and internal culture (formal and informal • There is strong commitment among the Directors
engagement) and the President to fulfill their obligations
B. For the Board Committees: • There is a high degree of confidence that the
• Leadership, size and composition (including skills) Directors and the President are competent to serve
• Responsibilities their roles to a high standard.
• Quality of reporting and timelines
In compliance with the SEC Code of Corporate
C. For the Individual Directors Governance, the results of the Board Self-Assessment
• Upholding the guiding principles and best practices are evaluated by an external facilitator every three years.
stipulated in the Code of Ethics for Directors
• Practicing due diligence in carrying out duties as Retirement and succession
director
• Willingness to speak at the meetings The wisdom that senior directors contribute is highly
• Receptiveness to other views recognized at China Bank; thus, we do not discriminate
• Constructively challenging fellow directors and when it comes to age. A director may remain on the
proposals and management of senior management Board for as long he/she continues to be physically and
• Applying a strategic mindset to board mentally fit for the position and able to discharge his/her
• Attendance at Board and Committee meetings duties in accordance with the regulatory requirements
for banks. The By-laws provides the rules on succession,
D. For the President replacement or vacancy in the Board due to retirement or
• Leadership any other reason, stating that vacancies in the Board may
• Cooperation and collaboration with the Board be filled up by appointment or election of the remaining
• Execution of strategies directors, if still constituting a quorum; otherwise,
• External relations the stockholders shall fill such vacancy in a regular or
special meeting called for this purpose. For Independent
The 2021 evaluation revealed the following: Directors, the Bank complies with SEC and BSP rules on
term limit.
• The positive assessment of the Directors reflects
their view that overall, the Board is seen as
effective in carrying out its function.

Corporate secretary Audit Committee primarily oversees all matters
pertaining to audit – mainly the evaluation of the
All directors have access to the services of the Corporate adequacy and effectiveness of the Bank’s internal
Secretary, a senior, strategic-level corporate officer who control system, as well as the integrity of its financial
has the vital role of official record keeper responsible statements. It appoints, reviews, and concurs in
for the administrative side of Board and committee the appointment or replacement of the Chief Audit
meetings, corporate governance gatekeeper responsible Executive (CAE), and is responsible for ensuring that
for overseeing sound board practices, and Board liaison the CAE and internal audit function are free from
who works and deals fairly and objectively with the Board, interference by outside parties. It also ensures that an
Management, stockholders, and other stakeholders. annual review is performed about the effectiveness of
the internal audit mechanism, including compliance
Board committees with the Institute of Internal Auditors’ International
102-19, 102-20, 102-21, 102-22, 102-23, 102-26 Standards for the Professional Practice of Internal
Auditing and Code of Ethics. It provides oversight
To effectively carry out its mandate of good corporate over Management’s activities in maintaining an
governance through compliance with laws, rules, adequate internal control framework, managing
regulations and best practices, the Bank’s Board is credit, market, liquidity, operational, legal, and other
supported by various committees, as follows: risks of the Bank, including regular receipts from
management of information on risk exposures and
Executive Committee has the powers of the Board, risk management activities. It likewise ensures that
when the latter is not in session, in the management internal and external auditors remain independent
of the business and affairs of the Bank to the fullest and are given unrestricted access to records,
extent permitted under its By-Laws and Philippine properties, and personnel, to enable them to perform
laws. The committee also decides on credit their respective audit functions. It is also responsible
applications or transactions, as endorsed by the for the recommendation on the appointment and
Credit Committee (if they exceed the latter’s credit removal of the external auditor. It has the explicit
authority), as well as on such other matters brought authority to investigate any matter within its terms of
to its attention from time to time. reference, to ensure the effectiveness and efficiency
of the Bank’s internal controls.
Corporate Governance Committee is responsible
for ensuring that the Bank’s Corporate Governance Compliance Committee is tasked to monitor
framework is regularly reviewed, updated, and always compliance with established bank laws, rules, and
implemented accordingly. It provides assistance regulations specifically in creating a dynamic and
to the Board in fulfilling its responsibilities by responsive compliance risk management system
ensuring compliance with, and proper observance of for identifying and mitigating risks that may erode
governance laws, rules, principles, and best practices, the franchise value of the Bank and ensuring that
including the continuing education program for the management is doing business in accordance with
directors and conduct of the Board assessment, the said prescribed laws, rules and regulations
among others. including policies, procedures, guidelines, and best
practices.

Risk Oversight Committee is responsible for Trust Investment Committee provides oversight
the development and oversight of the Bank’s risk functions, overall strategic business development
management functions, including the evaluation of and financial policy directions to the Trust and
the effectiveness of the enterprise risk management Asset Management Group. It oversees the trust,
framework and ensuring that corrective actions investment management and fiduciary activities of
are in place to address concerns in a timely the Bank, and ensures that they are conducted in
manner. It oversees the risk-taking activities of accordance with applicable rules and regulations,
the Bank and warrants the continued relevance, and judicious practices. Moreover, it ensures that
comprehensiveness, and overall value of the prudent operating standards and internal controls are
institutional risk management plan. in place and that the Board‘s objectives are clearly
understood and duly implemented by the concerned
Nominations Committee is responsible for reviewing units and personnel.
and evaluating the qualifications of all persons
nominated to the Board. Jointly with the Corporate Additional details on the Committees and their charters
Governance Committee, it oversees the nomination can be accessed through the Bank‘s website at www.
process for, and evaluates the qualifications of all chinabank.ph.
persons nominated to Department and Division
Head positions, as well as all promotions to any Bank Board and committee meetings
Officer position. It also undertakes the process of
reviewing the qualifications of the Board candidates, The Board of Directors conducts business through
to ensure that their qualities and/or skills are aligned meetings of the Board and its committees. Regular
with the Bank’s strategic directions, appropriate for Board meetings are held at least once a month, set
leading and assisting the Bank in achieving its vision to be every first Wednesday, to review China Bank’s
and corporate goals. financial performance, to approve strategies, policies, and
business plans, as well as to consider business and other
Remuneration Committee provides oversight proposals which require the Board’s approval. Special
over the remuneration of senior management and Board meetings may also be called to deliberate and
other key personnel, ensuring that compensation is assess corporate proposals or business issues that also
consistent with the interest of all stakeholders and require Board approval.
the Bank’s culture, strategy, and control environment.
Board and committee meetings are conducted consistent
Related Party Transactions Committee is with the Bank’s By-Laws. Majority of the Board constitutes
responsible for reviewing all material related quorum and a majority of the quorum is generally what is
party transactions (RPTs) to ensure that they are required for Board decisions.
conducted at an arm’s length. Composed entirely of
Independent Directors, the committee oversees the
proper implementation of the RPT Policy and ensures
that corresponding transactions are duly identified,
measured, monitored, controlled, and reported.

The directors are committed to their duty by studying
the materials to prepare for the meetings. When Executive Committee
43 meetings in 2021, including 2 joint meetings
exigencies prevent a director from physically attending a
with the Risk Oversight Committee
Board or committee meeting, he/she could join through
remote communication such as videoconferencing, Name of Director Attendance
teleconferencing or other alternative platforms/media Hans T. Sy (Chairman) 43/43
that allow them reasonable opportunity to participate. Gilbert U. Dee 39/43
William C. Whang 43/43
To ensure sound and objective decision making, Board Peter S. Dee 43/43
papers are provided to the directors five days before Joaquin T. Dee 43/43
the meeting. The directors also have access to senior
management, external consultants and advisors, and the
Corporate Governance Committee
Corporate Secretary.
31 meetings, including 12 joint meetings with the
Compliance Committee and 18 joint meetings with
Board of Directors the Nominations Committee in 2021
16 meetings in 2021, including the Name of Director Attendance
organizational meeting Margarita L. San Juan (Chairman) 31/31
Claire Ann T. Yap 31/31
Name of Director Attendance %
Genaro V. Lapez a 19/19
Hans T. Sy 16/16 100%
Philip S.L. Tsai b 12/12
Gilbert U. Dee 15/16 94% Alberto S. Yao c 12/12
William C. Whang 16/16 100% (a)
Member from May 6, 2021
Peter S. Dee 16/16 100%
(b)
Member up to May 5, 2021
(c)
Joaquin T. Dee 16/16 100%
Herbert T. Sy 15/16 94%
Harley T. Sy 16/16 100% Audit Committee
Jose T. Sio 16/16 100%
14 meetings in 2021
Margarita L. San Juan 16/16 100% Name of Director Attendance
Philip S.L. Tsai 16/16 100% Claire Ann T. Yap (Chairman)a 9/9
Claire Ann T. Yap 16/16 100% Joaquin T. Dee 14/14
Genaro V. Lapez 8/8* 100% Philip S.L. Tsai b 9/9
Margarita L. San Juan c 5/5
*From his election on May 6, 2021 Alberto S. Yao d 5/5
(a)
Chairman from May 6, 2021
(b)
(c)
(d)

Compliance Committee Remuneration Committee

12 joint meetings with the Corporate Governance 1 meeting in 2021
Committee in 2021
Name of Director Attendance
Name of Director Attendance Genaro V. Lapez (Chairman) 1/1
Margarita L. San Juan (Chairman)a 8/8 Herbert T. Sy 1/1
Joaquin T. Dee 12/12 Philip S.L. Tsai 1/1
Harley T. Sy b 8/8
Hans T. Sy c 4/4
Alberto S. Yao d 4/4 Related Party Transactions Committee
(a)
Chairman from May 6, 2021
12 meetings in 2021
(b)
(c)
(d)
Member up to May 5, 2021 Genaro V. Lapez (Chairman)a 7/7
Margarita L. San Juan b 12/12
Philip S.L. Tsai 12/12
Risk Oversight Committee Claire Ann T. Yap c 5/5
14 meetings in 2021, including 2 joint meetings Alberto S. Yao d 5/5
with the Executive Committee (a) Chairman from May 6, 2021
Name of Director Attendance (b) Chairman from January 1 to May 5, 2021;
Philip S.L. Tsai (Chairman) 14/14 (c) Member up to May 5, 2021
Margarita L. San Juan a 10/10 (d) Member up to May 5, 2021
Claire Ann T. Yap b 10/10
Hans T. Sy c 4/4
Alberto S. Yao d 4/4
Trust Investment Committee
11 meetings in 2021
(a)
(b)
Member from May 6, 2021 Name of Director Attendance
(c)
Peter S. Dee (Chairman) 11/11
(d)
Harley T. Sy 11/11
Jose T. Sio 11/11
Nominations Committee William C. Whang 11/11
18 joint meetings with the Corporate Governance Mary Ann T. Lim* 11/11
Committee in 2021 * First Vice President I, Trust Officer and Head of Trust and Asset
Management Group
Margarita L. San Juan (Chairman) a
18/18
Claire Ann T. Yap b 18/18
Genaro V. Lapez c 11/11
Philip S.L. Tsai d 7/7
Alberto S. Yao e 7/7
(a)
Member up to May 5, 2021; Chairman from May 6, 2021
(b)
Chairman up to May 5, 2021; Member from May 6, 2021
(c)
(d)
(e)

Governance policies Group in dealing with related parties. All material
RPTs are reviewed and vetted by the RPT Committee
102-9, 102-11, 102-25, 102-35, 102-36, 205-1
before they are endorsed to the Board for approval
In place are various internal policies that reflect China Bank’s and are ratified by the stockholders during the Annual
commitment to good governance. To guide employees, Stockholders’ Meeting. To prevent conflict of interest,
these policies are posted on our intranet facility, as well as no director is allowed to participate in the discussion,
our corporate website, www.chinabank.ph. deliberation, and approval of a transaction where he
is a related party. Specific materiality thresholds on
• Insider Trading: The policy prohibits China Bank a per transaction basis have been established. The
directors, officers, and employees who have Bank’s RPT policy is kept relevant and aligned with
knowledge of material facts or changes in the affairs of recent regulatory issuances.
the Bank which have not yet been publicly disclosed,
including any information likely to affect the share Below is a summary of material RPTs and outstanding
price of the Bank’s stock, from directly or indirectly loan balances in 2021. Details have been disclosed
engaging in financial transactions. Any transactions through the submission of required periodic reports to
by the Directors and principal officers involving the the BSP and/or SEC.
Bank’s shares are required to be disclosed within
three business days from the date of the transaction. Total Outstanding
Related Party Total Amount1
Balance2
• Conflict of Interest: The policy stipulates the P4.3B
China Bank Group
avoidance of conflict of interest (COI) between the $6.1M
Bank and employees. However, should a conflict arise, P106.7B P10.4B
the interest of the Bank must prevail. Employees are SM Group
not permitted to be involved in any financial interests $ 653.0M $ 174.6M
that are in conflict or appear to be in conflict with their P71.2B P2.2B
Other Related
duties and responsibilities to China Bank. They are Parties
$8.5M
likewise barred from engaging in work outside of the 1
Covers all transactions
Bank unless with duly approved permission, as well as 2
For loan transactions approved in 2021
perform activities or work in direct competition with
the Bank. • Anti-Bribery & Anti-Corruption: Any form of bribery
and corruption is not tolerated at China Bank. As
We have reinforced our governance practices to established in the Code of Ethics, all directors and
prevent COI by requiring our directors to accomplish employees are prohibited from offering, promising, or
the COI and RPT disclosure form after their election giving a financial or other advantage to any person or
and after gaining knowledge of any actual or potential party, including public officials, with the intention of
COI situation. inducing or rewarding improper performance by them
of their duties or to facilitate Bank transactions. They
• Related Party Transactions (RPT): The policy are likewise prohibited from accepting any financial
requires the thorough review of all transactions with or other advantage as a reward for participating in any
related parties as having been conducted in the act prejudicial to the Bank or any of its stakeholders.
ordinary course of business, at arm’s length basis, at In 2021, a total of 1,468 employees attended the
fair market prices, and upon terms not less favorable training on Code of Ethics and related trainings, in
to the Bank versus terms offered to others. The RPT which anti-bribery and anti-corruption were included.
Framework serves as a guide for the China Bank

• Anti-Money Laundering (AML) Governance: China incidents of fraud or any other malpractice within
Bank upholds the applicable laws, rules and regulations China Bank, without fear of reprisal or retaliation, as
to combat money laundering and terrorist financing; well as to provide avenues to raise those concerns
ensuring that it is not used as a channel for such confidentially. The Chief Compliance and Governance
activities. In order to ensure bank wide compliance Officer (CCGO) determines the substance and validity
with the Anti-Money Laundering and Counter- Terrorism of the whistleblowing report or disclosure, and if
Financing (AML/CTF) laws, rules and regulations, the deemed sufficient in form and substance, refers it to
Bank has adopted a Money Laundering and Terrorist the appropriate unit for proper investigation.
Financing Prevention Program (MTPP), approved by
the Board of Directors. It is designed in accordance Whistleblowing disclosures may be reported directly
with the Bank’s corporate structure and risk profile and to HRG, Audit Division, Risk Management Group or
is reviewed and updated regularly to incorporate recent the CCGO:
regulatory issuances and approved amendments. The
MTPP provides guidelines to combat money laundering Chief Compliance and Governance Officer
and terrorism financing activities, and promotes high Tel. No.: 8885-5731
ethical and professional standards. Mobile No.: 0947-9960573
Fax No.: 8864-5007
The Anti-Money Laundering Department of Email: [email protected].
Compliance Division oversees and manages the
Bank’s compliance with the MTPP and AML laws and A whistleblower disclosure form is also available at
regulations, conducts compliance testing to ensure www.chinabank.ph.
adherence to policies and procedures, and manages
the AML System to ensure the effective monitoring • Creditors: The policy focuses on honoring
of transactions and the timely and accurate reporting agreements with and respecting the rights of China
of covered and suspicious transactions to the Anti- Bank’s creditors—depositors and bondholders—
Money Laundering Council (AMLC). including complying with post-issuance regulatory
requirements like continuing disclosures and tax
The MTPP is disseminated to all officers and staff compliance.
of the Bank who are required by law and by the
Bank’s policies to implement the program. Regular • Suppliers and Contractors: The Bank is committed
AML trainings and seminars are also conducted to to fair market practices and in engaging suppliers and
update the Bank’s directors, officers and staff of contractors that are reputable, comply with national
the latest AML/CFT requirements, latest trends, laws and international standards, and have good track
emerging risks, and to continuously inform them of records and sustainable business practices. The policy
their obligations under the AMLA. The Bank has also also sets out the processes for vendor accreditation,
adopted an AML e-Learning platform to efficiently selection, and audit to ensure that vendor bids
expand the reach of AML training nationwide. A total are evaluated based on established criteria and to
of 3,160 employees completed the mandatory AML prevent favoritism or conflicts of interest. The Bank
e-learning course in 2021. also has an outsourcing policy that is aligned with the
outsourcing regulations of the BSP to ensure that all
• Whistleblowing: The policy aims to encourage outsourced activities are conducted in compliance
employees, customers, shareholders, and third party with applicable laws, and that risks arising from
service providers to report questionable activity, outsourced activities are identified, monitored, and
bribery and corruption issues, unethical behavior, mitigated.

• Senior Management Appointment and Bonuses
Succession: The Bank is prudent and exercises Year Salary & Other TOTAL
due diligence in selecting the members of its Compensation
Senior Management. The Succession Management 2021 P59,808,878 P57,874,732 P117,683,610
Program is an active process of the China Bank Group 2020 P56,072,606 P49,666,179 P105,738,786
ensuring that ample preparation is made to identify 2019 P54,416,702 P43,245,548 P97,662,250
and ready the successors to ensure that the Bank * Due to the competitiveness and high demand for talent in the banking
would have high-caliber leaders. A formal process industry, individually disclosing the remuneration of the top five officers,
is followed to ensure that the Talent chosen for the as per corporate governance best practices, would be disadvantageous
to the Bank.
Senior Management role is fit and proper for said key
position taking into account their experience in finance • Dividends:The policy sets out the Bank’s commitment
/ banking or related field, and integrity amongst other to providing shareholders with an equitable share
requirements. The process involves the Talent profile of profits. Cash dividends are declared at a payout
review by Senior Management led by the President ratio of approximately thirty percent (30%) of the net
through an interview aside from HRG conducting the income of the prior year, subject to the conditions
reference background check. Furthermore, the Talent and limitations set forth in more detail in the updated
profile is also reviewed by the Nominations and/or dividend policy. Dividend payouts, as part of our capital
Corporate Governance Committees as applicable management policy and process, are reviewed and
and if found suitable then the Talent is endorsed to calibrated annually, taking into account the economic
Executive Committee / Board of Directors for final and business environment, the Bank’s risk profile and
appointment approval. appetite, and trends in capital markets and regulatory
environment to achieve the following objectives:
• Executive Compensation: The Bank’s remuneration 1. Delivering to stockholders satisfactory returns
policy is anchored on the principle of fair, transparent, and enhanced shareholder value
and performance-based reward to encourage 2. Healthy capital adequacy ratios to comply with
employees’ long-term commitment, to support the regulatory capital requirements and maintain
Bank’s long-term outlook and plans, and to address strong credit rating
the challenge of attracting and retaining the best 3. Capital buffer to support business growth and
talents. Remuneration for senior officers varies pursue business opportunities
according to rank, function, and performance. Regular
salary reviews are conducted to ensure market
2017 2018 2019 2020 2021
competitiveness of total remuneration.
Stock
8% – – – –
Dividend
In 2021, the Bank paid a total of P117.7 million to
Cash
the five most senior executives*: Vice Chairman 8% 8.3% 8.8% 10.0% 10.0%
Dividend
Gilbert U. Dee, President William C. Whang, Chief
Operating Officer Romeo D. Uyan Jr., Chief Finance
Officer Patrick D. Cheng, and RBB Segment Head
Rosemarie C. Gan.

• Disclosure and Transparency: As a publicly-listed Internal audit

company, China Bank complies with the disclosure
and reportorial requirements of regulators—BSP, Business integrity requires an astute evaluation of internal
PSE, and SEC, and maintains an up-to-date corporate controls. Internal audit determines the effectiveness
website and a Corporate Governance microsite of China Bank’s risk management, control and
to provide stakeholders with timely and accurate governance systems and processes, providing relevant
information to facilitate understanding of the Bank’s recommendations based on independent and objective
true financial condition. Accuracy and timeliness are assurance reviews, meaningful advice on the shifting
observed with respect to major and market-price risks and controls landscape, and insights on emerging
sensitive information such as dividend declarations, risks to Senior Management and the Board to enhance
joint ventures and acquisitions, sale and disposition and protect organizational value.
of significant assets, as well as financial and non-
financial information that may affect or influence the The internal audit function rests with the Audit Division
decision of our shareholders and other stakeholders, headed by the Chief Audit Executive (CAE), who
in the form of disclosures through EDGE for posting reports functionally to the Audit Committee to maintain
on the PSE website, media releases, and news organizational independence, and administratively to the
updates on our corporate website. In addition, the President. The Audit Division’s authority cuts across all
Investor and Corporate Relations Group conducts/ functions, units, processes, records, and personnel in
participates in investor briefings with analysts and relation to the conduct of its role. It has a Board-approved
members of the media. Internal Audit Charter, which serves as a guide in the
performance of mandated duties and basis in evaluating
the effectiveness and efficiency of China Bank’s internal
audit function.
Enforcing effective internal
controls • External audit: Sycip Gorres Velayo & Company
(SGV), China Bank’s external auditor for over 20
China Bank’s strength amid adversities is underpinned years, is responsible for providing reasonable
by effective internal controls. The Board is responsible assurance that the Bank’s financial statements are
for the development and review of the Bank’s internal presented accurately and in conformity with the
control system, while the day-to-day responsibility for Philippine Financial Reporting Standards (PFRS). In
internal control rests with Management. In varying compliance with regulations, the signing partners are
degrees, internal control is the responsibility of everyone rotated every five years of engagement which was
in the Bank. Our employees understand their role in the increased to seven years effective August 2019. None
internal control process to manage and mitigate risks, to of the Bank’s external auditors have resigned during
ensure the reliability and integrity of financial information the two most recent fiscal years (2020 and 2021) or
and compliance with laws and regulations, to achieve any interim period. SGV is again recommended for
our strategic objectives and profitability targets, and to appointment at the scheduled annual stockholders’
maintain operational resilience in difficult times. meeting.

• Audit and audit-related Fees: China Bank paid a Compliance
total of P15 million in 2021. Audit and Audit-Related
Fees cover services rendered for the performance of The Bank believes that an effective Board and senior
the audit or review of the Bank’s financial statements management oversight is the foundation of an effective
including the combined financial statements of Trust compliance system that is rooted in doing what is right
Group, and the issuance of comfort letters relative to to maintain the trust and confidence of our stakeholders.
the Bank’s bond issuances amounting to P20 billion
in 2021 and P15 billion in 2020. The 2021 and 2020 Local regulations set by Philippine government agencies
audit fees were taken up and approved by the Audit need to be strictly complied with by financial institutions.
Committee. Thus the Bank is committed to comply with existing
laws, rules and regulations. The Board is responsible for
Tax fees related to the audit of tax accounting and ensuring that appropriate policies are in place to manage
compliance are already incorporated in the year- and mitigate compliance risks, while Management
end audit fees under Audit and Audit-Related Fees is responsible for implementing these policies and
category as this is part of the audit process conducted undertakes to timely address critical issues to preserve
by the external auditors. the franchise value of the Bank.
The Board/Audit Committee likewise discussed, Compliance management forms part of the Bank’s
approved, and authorized to engage the services of fundamental business activities and is upheld in all
SGV & Co in non-audit work for review and advisory levels of the organization. China Bank observes the
services and independent validation of votes in the 3-lines-of-defense governance framework which allows
annual stockholders’ meeting in both 2021 and 2020. everyone to distinguish and give appropriate attention
Payment for these services is included under All to compliance priorities, enabling the Bank to readily
Other Fees. respond to compliance, governance, and related risks.
SGV & Co. also confirmed that they did not have Compliance system
any disagreement with Management that could
be significant to the Bank’s financial statements or Compliance Division (“Compliance”), which stands at the
their auditor’s report. Further, there are no matters forefront of the Compliance System, continues to play
that in their professional judgment may reasonably an important role in driving the effective management
be thought to bear on their independence or that of compliance risks that seeks to identify, remediate
they gave significant consideration to in reaching the and mitigate risks that may erode the franchise value
conclusion that independence has not been impaired. of the Bank, and in promoting compliance culture and
understanding of compliance issues. It also assists the
Audit and Board in carrying out its governance function to protect
Year All Other Fees
Audit-Related Fees the interests of the Bank’s stakeholders.
2021 P11,415,712 P3,616,173
2020 P10,554,544 P 1,900,326

At the helm of the Bank’s Compliance function is the Risk governance system
Chief Compliance and Governance Officer (CCGO), who
also oversees the Group-wide compliance for the China At China Bank, managing risks is everyone’s business.
Bank Group and functionally reports to the Compliance Our framework ensures that the Board direction on
and the Corporate Governance committees of the Board, strategy and risks are well articulated in the risk policies
and administratively to the Bank’s President. Compliance and that risk appetites, limits, and measures are identified
is independent from business operations, and operates as and monitored.
a second line-of-defense in the overall control structure. It
is composed of six departments: Regulatory Compliance, We subscribe to a Three Lines of Defense apprach to
Anti-Money Laundering, Corporate Governance, IT effectively manage group-wide risks. The first line of
Compliance, Subsidiaries Compliance and Associated defense is risk management by the business lines,
Person. wherein business unit engages in risk-taking within
the established range of risk appetite, and promptly
Compliance continuously endeavors to drive a strong implements risk control at the on-site level when a risk
compliance culture within the Group, thru a dynamically- arises. The second line of defense is Compliance and
responsive compliance program and corresponding Risk Management. Compliance Division is in charge of
activities such as the preparation and enhancement of the compliance risk management system to identify and
compliance policies and procedures, risk assessment mitigate risk that may erode the franchise value of the
of the institution, conduct of independent testing and Bank, while the Risk Management Group (RMG) acts as
promotion of compliance awareness. It ensures that a restraint function for the risk taking of the first line of
employees at all levels are kept abreast of changes defense, and supervises and provides guidance regarding
in the laws and regulations through regular trainings the risk governance system. RMG reports on the status
and dissemination of vital/latest issuances, advisories, of risk management to the Board of Directors through
notices, and other regulatory matters. The compliance the Risk Oversight Committee. The third line of defense
function and program are subject to independent review is the Audit Division which validates the effectiveness
by the Internal Audit Division. and appropriateness of the group-wide risk governance
system and processes from an independent standpoint.
Risk management
102-11 Risk Management Group
102-30
Risks are part of doing business. Effective risk
The Risk Management Group (RMG), headed by the Chief
management rather than outright risk avoidance has been
Risk Officer (CRO), performs overall risk management,
a guiding principle at China Bank, enabling us to maintain
identifies and evaluates group-wide risks, creates a risk
highly profitable and stable operations while undertaking
management process, formulates recovery strategies,
only well-calculated risks for commensurate returns.
and sets risk limits in accordance with the Board-approved
Risk oversight is a primary Board responsibility, setting
risk management policies. RMG applies the principles
the tone for a sound risk culture. Management handles
of sound governance to the identification, assessment,
the implementation of the Enterprise Risk Management
monitoring, and mitigation of risks. Risk identification and
Framework and day-to-day risk management, ensuring
assessment are embedded in our work processes and
the Bank operates within the established risk appetite
critical business systems to ensure that decision-making
and limits. Effective risk management is reinforced
is based on valid data. RMG distinguishes the different
as a discipline group-wide through trainings and
types of risk and takes an integrated approach, guided by
communication.

supporting frameworks and policies which are regularly and the results were used as basis for the selection of
reviewed and enhanced, to effectively manage the Bank’s the new ICRRS model that was approved by the Board
financial, nonfinancial, and emerging risks. in 2019. The Bank also continued to perform statistical
review of the BCS from 2019 to 2021. For the auto and
Credit risk housing loans scorecards, the review was completed in
2020 with the results documented in 2021.
During the normal course of lending and credit
underwriting, the Bank is exposed to credit risk which is Market and liquidity risk
the risk of financial loss where a customer or counterparty
fails to meet their financial obligations to China Bank.
Operating in a market that is dynamic and often
The policies for managing credit risk are determined at
unpredictable, China Bank is exposed to market risk—
the business level with specific procedures for different
the risk of changes in market factors, such as foreign
risk environments and business goals. Risk limits and
exchange, interest rates and equity prices negatively
thresholds have been established to monitor and manage
impacting earnings. This includes interest rate risk in the
credit risk from individual counterparties and/or group
banking book which is the risk to interest income from a
of counterparties, countries, and industry sectors.
mismatch between the duration of assets and liabilities.
Periodic assessments are also conducted to review the
The Bank is also exposed to liquidity risk, which is the
creditworthiness of our counterparties.
current and future risk arising from a company’s inability
to meet its financial obligations when they come due. The
Credit risk for large corporates and medium-sized entities
objective of our market risk policies is to obtain the best
is measured through the Internal Credit Risk Rating
balance of risk and return while meeting our stakeholders’
System (ICRRS). For smaller businesses, retail and
requirements. On the other hand, our liquidity risk policies
individual loan accounts, the credit scoring system used
center on maintaining adequate liquidity at all times to
is the Borrower Credit Score (BCS). There is a separate
be in a position to meet all obligations as they fall due.
application scorecard for auto loans and housing loans,
Market risk, interest rate risk, and liquidity risk exposures
while Transunion Bureau score is used for credit cards in
are managed through a risk management framework
conjunction with other credit acceptance criteria.
comprising of limits, triggers, monitoring, and reporting
process that are in accordance with the risk appetite of
The Bank also has a rating system for Philippine universal,
the Board.
commercial, thrift, rural, and cooperative banks. In
addition, the Bank has a Sovereign Risk Rating Model
Market risk exposures are measured and monitored
used to assess the strength of the country rated with
through reports from our Market Risk Management
reference to its economic fundamentals, fiscal policy,
System. We use Historical Simulation Value-at-Risk (VaR)
institutional strength, and vulnerability to extreme events.
approach for all treasury traded instruments, including
fixed income bonds, foreign exchange swaps and
Moody’s Analytics performed a quantitative and qualitative
forwards, interest rate swaps, and equity securities.
validation of the ICRRS in 2014, followed by the model
Meanwhile, liquidity and interest rate risk exposures
recalibration in 2015. In 2016, with the assistance of
are measured and monitored through the Maximum
Teradata as its technology provider, the Bank completed
Cumulative Outflow (MCO) and Earnings-at-Risk (EaR)
the statistical validation of the BCS using the same
reports from our Asset and Liability Management (ALM)
methodology applied to the validation of its corporate risk
system. Based on the latest annual validation of Internal
rating model. In 2017 and 2018, the Bank conducted the
Audit, our internal risk measurement models –VaR, EaR,
validation of the two proposed recalibrated ICRRS models
and MCO – remain appropriate and adequate.

Operational risk Bank prepares to embark on a digitization effort. The

Board of the Parent Bank delegates to the IT Steering
China Bank looks to be an admired and innovative Committee (ITSC) the responsibility for implementing
financial services institution that partners with our IT strategies and cohesively monitor IT performance.
customers, employees and shareholders in wealth and Our ITSC includes the participation of two directors who
value creation. The bank recognizes that operating oversee the institution’s IT function as well as members
soundly and innovating nimbly are keys to sustaining of management that oversee business execution and
the faith and credit its stakeholders. Our Operational business support functions. Governance functions
Risk Management Framework provides guidelines that participate in ITSC meetings in advisory capacity. The
operational workflows sustain the Bank’s growth and ITSC aggregates IT concerns from all over the enterprise
profit objectives. Our framework advocates a culture of to ensure concerted implementation of the Group’s IT
risk recognition, risk control and risk management. It Strategy. The allied subsidiary and affiliate enterprises
includes policies, processes, procedures, and various ensure their respective Boards, Senior Managements
tools, which includes Risk Assessment, Control Self- and Risk functions remain aware of all businesses they
Assessment, Loss Incident Reporting System and raise before the ITSC.
reporting of Key Risk Indicators to manage operational
risks. Trust risk
Business continuity management (BCM) With the extensive development of the financial market,
the Bank continues to place great importance on managing
China Bank recognizes infrastructure availability to be all the risks specific to our Trust business, including legal,
critical in minimizing the effects of potentially disruptive strategic, and reputational risks. Trust risk is managed
events. We strengthen the ability of our operations to in accordance with the Guidelines in Strengthening
recover from significant business disruptions that may Corporate Governance and Risk Management Practices
include natural calamities, pandemics, and disasters on Trust, Other Fiduciary Business, and Investment
through developing, reviewing and testing our resilience Management Activities (BSP Circular 766), as well as the
plans. Bank’s internal Trust Risk Management Guidelines.
Information technology (IT) risk Integrated stress test
China Bank recognizes the horizons that open with the RMG has an Integrated Stress Testing (IST) framework
use of Information Technology to deliver products and to evaluate the Bank’s overall vulnerabilities on specific
services or to increase the efficiency of service fulfilment events or crisis and gauge the ability to withstand stress
and product delivery. The Bank’s information technology events, in addition to the silo stress tests. The IST covers
risk infrastructure centers on ensuring: the soundness all the major risk areas of the Bank and complements the
of IT Operations, the effectivity of IT Security in the face Pillar I Plus Approach which is the basis for the Internal
of increasing cyber threat landscape, the orderliness Capital Adequacy Assessment Process (ICAAP) capital
of implementation of IT Projects particularly as the charge under normal condition.

Stock information
China Bank common shares are listed and traded on the Philippine Stock Exchange under the symbol “CHIB”.
The Bank‘s common shares were valued at P26.00 per share as of December 31, 2021 (last trading day), and at P26.55
per share as of March 17, 2022 (latest practicable trading date).
The Bank has an authorized capital stock of P33 billion divided into 3.3 billion shares with a par value of P10.00 per share.
As of February 28, 2022, there were approximately 1,876 holders of 2,691,288,212 common shares.
Top 20 holders of China Bank common shares

Name of Stockholder Number of Shares Percentage
1. PCD Nominee Corporation (Non-Fil.) 710,076,453 26.384
2. PCD Nominee Corporation (Filipino) 572,755,780 21.282
3. SM Investments Corporation 463,922,761 17.238
4. Sysmart Corporation 415,995,323 15.457
5. JJACCIS Development Corporation 62,320,926 2.316
6. CBC Employees Retirement Plan 53,278,951 1.980
7. Joaquin T. Dee &/or Family 40,787,322 1.516
8. GDSK Development Corporation 31,458,583 1.169
9. Suntree Holdings Corporation 24,138,332 0.897
10. Syntrix Holdings, Inc. 21,552,649 0.801
11. Hydee Management & Resource Corp. 14,334,603 0.533
12. The First Resources Mgt. & Sec. Corp. 5,964,229 0.222
13. Kuan Yan Tan’s Charity (Phil.), Inc. 5,941,277 0.221
14. Reliance Commodities, Inc. 5,662,648 0.210
15. Robert Y. Dee, Jr. 5,569,499 0.207
16. La Filipina Uy Gongco Corporation 5,444,600 0.202
17. Ansaldo, Godinez & Co., Inc. 5,037,498 0.187
18. Michael John G. Dee 3,963,468 0.147
19. Cheng Siok Tuan 3,864,332 0.144
20. Rosario Chua Siu Choe 3,631,816 0.135
TOTAL 2,455,701,050 91.246%
Equity ownership by nationality

Nationality Number of Stockholders Number Shares Percentage
Filipino 1,798 1,973,978,988 73.347%
Non-Filipino (PCD) 1 710,076,453 26.384%
Chinese 48 3,485,501 0.130%
American 18 2,403,317 0.089%
Australian 2 4,513 0.000%
British 2 97,631 0.004%
Canadian 2 450,163 0.017%
Dutch 1 62,198 0.002%
Spanish 1 107 0.000%
Taiwanese 3 729,341 0.027%
TOTAL 1,876 2,691,288,212 100.0%

Record and beneficial owners holding 5% or more voting securities

102-5
Name of Beneficial Owner
Title of Name, Address of Record Owner & No. of
& Relationship with Record Citizenship Percentage
Class Relationship with Issuer Shares Held
Owner
PCD Nominee Corporation*
29/F BDO Equitable Tower,
Common Various stockholders/clients Non-Filipino 710,076,453 26.38%
8751 Paseo de Roxas, Makati City
Stockholder
PCD Nominee Corporation*
29/F BDO Equitable Tower,
Common Various stockholders/clients Filipino 572,755,780 21.28%
Stockholder
SM Investments Corporation
Sy Family
10th Floor L.V. Locsin Bldg.,
Common PCD Nominee Corporation Filipino 463,922,761 17.24%
6752 Ayala Avenue, Makati City
Stockholders
Stockholder
Sysmart Corporation
Sy Family
10th Floor L.V. Locsin Bldg.,
Common Sycamore Pacific Corporation Filipino 415,995,323 15.46%
6752 Ayala Avenue, Makati City
Stockholders
Stockholder
* Based on the list provided by the Philippine Depository & Trust Corporation to the Bank’s transfer agent, Stock Transfer Service, Inc., as of
December 31, 2021, The Hong Kong and Shanghai Banking Corporation Limited (396,732,386 shares or 14.74%) and BDO Securities Corporation
(190,351,468 shares or 7.07%) hold 5% or more of the Bank’s securities under the names of various beneficial owners. The beneficial owners, such
as the clients of PCD Nominee Corporation, have the power to decide how their shares are to be voted.
Stockholdings of Bank Directors

As of December 31, 2021
Amount of Shares Held
Name Citizenship No. of Shares Held Percentage
(In pesos)
Hans T. Sy Filipino 4,383,462 43,834,620.00 0.163
Gilbert U.Dee Filipino 12,838,006 128,380,060.00 0.477
William C. Whang Filipino 18,318 183,180.00 0.001
Peter S. Dee Filipino 301,305 3,013,050.00 0.011
Joaquin T. Dee Filipino 51,736,912 517,369,120.00 1.922
Herbert T. Sy Filipino 735,431 7,354,310.00 0.027
Harley T. Sy Filipino 897,254 8,972,540.00 0.033
Jose T. Sio Filipino 3,517 35,170.00 0.000
Margarita L. San Juan Filipino 95,238 952,380.00 0.004
Philip S. L. Tsai Filipino 2,000 20,000.00 0.000
Claire Ann T. Yap Filipino 100 1,000.00 0.000
Genaro V. Lapez Filipino 100 1,000.00 0.000
TOTAL: 71,011,643 710,116,430.00 2.639

Trading in Company Shares by Bank Directors
Shareholdings as of Number of Shares Number of Shares Shareholdings as of
Director
January 1, 2021 Disposed Acquired December 31, 2021
Hans T. Sy 4,226,761 - 156,701 4,383,462
Gilbert U. Dee 12,832,906 - 5,100 12,838,006
William C. Whang 17,518 - 800 18,318
Peter S. Dee 301,305 - - 301,305
Joaquin T. Dee 51,686,912 - 50,000 51,736,912
Herbert T. Sy 578,730 - 156,701 735,431
Harley T. Sy 740,553 - 156,701 897,254
Jose T. Sio 3,517 - - 3,517
Margarita L. San Juan 95,238 - - 95,238
Philip S. L. Tsai 2,000 - - 2,000
Claire Ann T. Yap 100 - - 100
Genaro V. Lapez* - - 100 100
*Elected as Independent Director on May 6, 2021
Trading in Company Shares by Bank Principal Officers*

Shareholdings as Number of Number of Shareholdings as of
Officer
of January 1, 2021 Shares Disposed Shares Acquired December 31, 2021
Patrick D. Cheng 617,756 _ 500 618,256
Rosemarie C. Gan 130,032 _ 4,100 134,132
Romeo D. Uyan, Jr. _ 500 500
Ananias S. Cornelio Ill _ 700 700
Jose L. Osmeña, Jr. _ 10,000 10,000
Magnolia Luisa N. Palanca _ 100 100
Christopher Ma. Carmelo Y. Salazar _ 100 100
Yu, Lilian _ 400 400
Lilibeth R. Cariño (a) 4,167 _ 4,100 8,267
Cristina P. Arceo _ 1,200 1,200
Angela D. Cruz 1,639,876 _ 1,600 1,641,476
Gerard T. Dee 277,864 _ 1,600 279,464
Antonio Jose S. Dominguez _ 100 100
Delia Marquez 23,560 _ 3,200 26,760
Stephen Y. Tan 2,746 _ 1,300 4,046
Layne Y. Arpon 10,732 _ 1,100 11,832
Amelia Caridad C. Castelo _ 100 100
Melissa F. Corpus _ 1,500 1,500
James Christian T. Dee (b) _ 2,911,081 2,911,081
Maria Luz B. Favis _ 1,300 1,300
Madelyn V. Fontanilla _ 1,400 1,400
Jerry Ron T. Hao _ 300 300
Maryann T. Lim _ 200 200
Mandrake P. Medina _ 1,200 1,200
Elizabeth C. Say 3,433 _ 3,200 6,633
Clara C. Sy 2,973,304 _ 3,800 2,977,104
Belenette C. Tan 5,008 _ 2,700 7,708
Marisol M. Teodoro 21,323 _ 2,600 23,923
Maria Rosanna Catherina L. Testa 6,340 _ 1,000 7,340
*First Vice President and up, in addition to Vice Chairman Gilbert U. Dee and President William C. Whang
(a)
Retirement effective February 28, 2022
(b)
Promotion to First Vice President I effective April 16, 2021

Conglomerate Map
As of December 31, 2021
SM INVESTMENTS CORPORATION
EQUITY
CORE OTHERS
INVESTMENTS
Asia-Pacific Computer Mountain Bliss Resort

2Go Group, Inc. Goldilocks Bakeshop, Inc.
Technology & Development Corp.
(52.9%) (74.1%)
Center, Inc. (41.8%) (100.0%)
BDO Unibank, Inc.
(45.3%)
Atlas Consolidated Bellevue Properties, Inc. Manila Southcoast

GPAY Network PH, Inc.
Mining and Development
(34.5%) (62.0%) Dev’t Corp. (99.9%)
Corporation (34.1%)
SM Retail, Inc.
(77.3%)
Belleshares Digital Advantage

Multi-Realty Development
Holdings, Inc. Neo Group Corporation
(99.0%) Corporation (90.9%)
(94.2%)
SM Prime
Holdings, Inc.
(49.7%)
Philippines Urban
Henfels Investments Nagtahan Property
Belle Corporation Living
Corporation Holdings, Inc.
(26.4%) Solutions Inc.
(99.0%) (99.7%)
(71.3%)
21.1%
Intercontinental
Premium Leisure Primebridge
5% Prime Central Limited Development
Corporation Holdings, Inc.
(100.0%) Corporation
(26.1%) (100.0%)
CHINA BANKING (99.7%)
CORPORATION 2%
CityMall
(22.5%) Commercial 98%
Globalfund
Holdings, Inc.
Centers, Inc.
(100.0%)
(34.0%)
Sodexo Benefits
and Rewards AIC Group of Companies
Services Philippines, Inc. Holding Corp.
(formerly Sodexo Motivation (35.0%)
Solutions Philippines, Inc.)
(40.0%)
China Bank CBC Properties & CBC Insurance Manulife China Bank China Bank Capital
Savings, Inc. Computer Center, Inc. Brokers, Inc. Life Assurance Corp. Corporation
(98.3%) (100.0%) (100.0%) (40.0%) (100.0%)
China Bank
CBC Assets One Resurgent Capital
Securities
Legend: (SPC), Inc. (FIST-AMC), Inc.
Corporation
% Refers to the Effective Ownership Interest, except for the (100.0%) (100.0%)
(100.0%)
CBC group (subsidiaries and affiliates), where % refers to the
direct shareholding of the parent company.
Subsidiaries of Associate of SMIC

SMIC Subsidiary
SMIC Subsidiary Associates Subsidiary
Financial Allied Subsidiary Non-Financial Allied Subsidiary Financial Allied Affiliate Special Purpose Corporation

Board of Directors
1 2 3
8 9 10 11

BOARD OF DIRECTORS
4 5 6 7
1. Hans T. Sy 9. Margarita L. San Juan

Chairman Lead Independent Director
2. Gilbert U. Dee 10. Philip S.L. Tsai
Vice Chairman, Executive Director Independent Director
3. William C. Whang 11. Claire Ann T. Yap
President, Executive Director Independent Director
4. Peter S. Dee 12. Genaro V. Lapez
Non-Executive Director Independent Director
5. Joaquin T. Dee 13. Ricardo R. Chua
Non-Executive Director Advisor to the Board
6. Harley T. Sy
Non-Executive Director
7. Herbert T. Sy
8. Jose T. Sio
12 13

Board of Directors
HANS T. SY WILLIAM C. WHANG
Chairman President, Executive Director
William C. Whang, 63, Filipino, is the Director and President of

Hans T. Sy, 66, Filipino, is the Chairman of the Board since
China Bank since November 1, 2017. He previously held several
May 5, 2011. He has been a member of the China Bank Board
key positions in the Bank from 2011 to 2017: as Chief Operating
since May 21, 1986 and served as Vice Chairman from 1989
Officer, Head of Lending Business Segment, and Head of
to 2011. He also serves as Director and Chairman of the
Institutional Banking Group. He currently sits on the boards
Executive Committee of SM Prime Holdings, Inc. (SMPH)*,
of China Bank subsidiaries China Bank Securities Corporation
Adviser to the Board of SM Investments Corporation (SMIC)*,
(CBSC) as Chairman; and China Bank Savings, Inc. (CBSI), China
and Chairman of the Board of Trustees of National University,
Bank Insurance Brokers, Inc. (CBC-IBI), CBC-PCCI, and China
Inc. He holds other key positions in several companies within
Bank Capital Corporation (CBCC) as director. He also holds other
the SM Group. Chairman Sy graduated from De la Salle
directorship positions, representing China Bank, in BancNet,
University with a Bachelor of Science degree in Mechanical
Inc., Bankers Association of the Philippines, Philippine Payments
Engineering. He attends and participates in various trainings
Management Inc., and Manulife China Bank Life Assurance
and seminars, the latest of which was the Advanced
Corporation (MCBLife). He has over 40 years of banking
Corporate Governance training conducted by the Institute of
experience, previously holding key positions both in local and
Corporate Directors (ICD) in September 2021.
international financial institutions. Director and President Whang
earned his Bachelor of Science degree in Commerce, Major
GILBERT U. DEE in Business Management, from De La Salle University. He
Vice Chairman, Executive Director attended various trainings in banking and other related fields
such as corporate governance, anti-money laundering (AML),
branch-based marketing, quality service management, sales
Gilbert U. Dee, 86, Filipino, is the Vice Chairman of the Board management, and principle-centered leadership.
since May 5, 2011. He became a member of the China Bank
Board on March 6, 1969 and was the Chairman from 1989
to 2011. He is also currently the Chairman of Union Motor PETER S. DEE
Corporation and China Bank subsidiary CBC Properties and Non-Executive Director
Computer Center, Inc. (CBC-PCCI). He previously served as
director on the boards of Philippine Pacific Capital Corporation,
Philex Mining Corporation, and CBC Finance Corporation. Vice Peter S. Dee, 80, Filipino, is a China Bank Board member
Chairman Dee holds a Bachelor of Science degree in Banking since April 14, 1977. He served as President and Chief
from De La Salle University and a Master’s in Business Executive Officer from 1985 to 2014. At present, he is an
Administration (MBA) degree in Finance from the University of independent director of City & Land Developers, Inc.* and
Southern California. Among the trainings in banking and other Cityland Development Corporation*. He is also a member
related fields he has attended over the years included ICD’s of the boards of China Bank subsidiary CBC-PCCI, Hydee
Advanced Corporate Governance Training in September 2021. Management & Resources Corporation, Commonwealth
Foods, Inc., GDSK Development Corporation, Makati Curb
Holdings Corporation, Great Expectation Holdings, Inc.,
and The Big D Holdings Corporation. He previously served
as director of Sinclair (Phils.) Inc., Can Lacquer, Inc., CBC
Forex Corporation, and CBC-IBI, among others. Director Dee
obtained his Bachelor of Science degree, Major in Commerce,
from De La Salle University and the University of the East, and
attended a Special Banking Course at the American Institute
of Banking. He attended various trainings, the latest of which
was in September 2021 on AML and corporate governance.
* Listed on the Philippine Stock Exchange

BOARD OF DIRECTORS
JOAQUIN T. DEE JOSE T. SIO

Non-Executive Director Non-Executive Director
Joaquin T. Dee, 86, Filipino, is a member of the China Jose T. Sio, 82, is a China Bank director since November
Bank Board since May 10, 1984. He is also on the boards 7, 2007. He also serves as Chairman of SM Investments
of JJACCIS Development Corporation, Enterprise Realty Corporation*, Director of Belle Corporation* and Consolidated
Corporation, and Suntree Holdings Corporation. He served as Mining and Development Corporation*, Independent Trustee
Vice President of Wellington Flour Mills from 1964 to 1995. of Far Eastern University, Inc.*; and Adviser to the Board
Director Dee is a graduate of Letran College with a Bachelor of BDO Unibank, Inc.* and Premium Leisure Corporation*.
of Science degree in Commerce. He attended trainings He is also on the boards of NLEX Corporation, Ortigas Land
and seminars related to banking, such as on data privacy, Corporation, and First Asia Realty Development Corporation,
corporate governance, and AML. and is currently the Chairman, President and Trustee of SM
Foundation, Inc. Mr. Sio was a Senior Partner of SyCip Gorres
Velayo & Co. (SGV). He was voted CFO of the Year in 2009 by
HARLEY T. SY the Financial Executives of the Philippines (FINEX) and was
Non-Executive Director named Best CFO (Philippines) in various years by Hong Kong-
based business publications such as Alpha Southeast Asia,
Harley T. Sy, 62, Filipino, is a member of the China Bank Board Corporate Governance Asia, Finance Asia and The Asset. Mr.
since May 24, 2001. He is also the Executive Director of SM Sio is a Certified Public Accountant and holds a Bachelor of
Investments Corporation, one of the largest publicly listed Science degree in Commerce, major in Accounting, from the
companies in the Philippines, and holds various positions University of San Agustin. He obtained his Master’s degree in
in other non-listed companies in the SM group. Director Sy Business Administration from New York University, U.S.A. He
graduated with a Bachelor of Science degree in Commerce, is actively engaged in continuous trainings, having attended
Major in Finance, from De La Salle University. He participated seminars/trainings on investments, loans and financial
in extensive trainings focused on enhancing his banking skills, instruments, structured products, debt and equity financing
including programs on AML, corporate governance, and BSP during the Euromoney Conference in China in 2005, AML
supervisory assessment framework. updates and advanced corporate governance in 2021.
HERBERT T. SY
Herbert T. Sy, 65, Filipino, was first elected to the China Bank
Board on January 7, 1993. He also serves as Chairman of
Supervalue, Inc., Super Shopping Market, Inc., Sondrik, Inc.,
and Sanford Marketing Corp., and as director of SM Prime
Holdings, Inc.* and National University. He has been involved
in companies engaged in food retailing, investment, real
estate development, and mall operations. Director Sy obtained
his Bachelor of Science degree in Management from De La
Salle University. His latest banking-related trainings included
ICD’s Advanced Corporate Governance Training in September
2021.
* Listed on the Philippine Stock Exchange

Board of Directors
MARGARITA L. SAN JUAN CLAIRE ANN T. YAP
Lead Independent Director Independent Director
Margarita L. San Juan, 68, Filipino, is the Lead Independent Claire Ann T. Yap, 66, Filipino, is an Independent Director of the
Director of China Bank. She was first elected to the China Bank since October 1, 2020. She also serves as Independent
Bank Board on May 4, 2017. She is also Independent Director Director of China Bank subsidiaries CBSI, CBCC, and CBSC,
in Bank subsidiaries CBSI, CBCC, CBC-IBI, and CBCC’s wholly- and CBCC subsidiary RCI. She is also a Board Trustee and the
owned subsidiary Resurgent Capital (FISTC-AMC) Inc. (RCI). Vice Chairperson of Vedruna Foundation, Inc., and a Director of
She does not hold directorship position in any other PSE-listed Ayala Heights Village Association, Inc. She has over 30 years
company. In the past, she worked with Ayala Investment and of banking and finance experience from local and multinational
Development Corporation, Commercial Bank and Trust Co., organizations. She was the Senior Vice President and Head
and in the Bank’s Account Management Group as Senior of Global Service Centre of Global Payments Process Centre,
Vice President and Group Head until her retirement in 2012. Inc., a Fortune 500 company and worldwide leader providing
Director San Juan earned her Bachelor of Science degree in payments and financial technology solutions. She also
Business Administration, Major in Financial Management, previously held executive leadership positions at Australia and
from the University of the Philippines, and completed the New Zealand Banking Group Ltd. and Hongkong and Shanghai
Advanced Bank Management Program of the Asian Institute Banking Corporation. She served as Chairman of the Credit
of Management (AIM). She participated in various seminars Card Association of the Philippines from 2009 to 2010 and
and trainings including development financing, international President from 2007 to 2009. A Certified Public Accountant,
banking operations, marketing, financial analysis and control, Director Yap graduated cum laude from De La Salle University
credit, risk management, lending and investment banking, with a Bachelor of Science degree in Accountancy. She has
restructuring and corporate rehabilitation, and the latest on had various trainings on managing customer experience,
AML and corporate governance in September 2021. credit card fraud and security, information security and data
privacy, AML, and corporate governance.
PHILIP S.L. TSAI

Independent Director
Philip S.l. Tsai, 71, Filipino, is an Independent Director of

China Bank since November 7, 2018. He also serves as
Independent Director of China Bank subsidiaries CBSI,
CBCC, and CBC-IBI. He has about 40 years of banking and
financial experience, previously holding key positions in First
CBC Capital (Asia) Limited, Midwest Medical Management,
Fortune Travel International Inc., Chemical Bank New York,
Plastic Container Packaging/Consolidated Can Corp., and in
the Bank’s Retail Banking Business until his retirement in
2015. Director Tsai obtained his Bachelor of Science degree in
Business Administration from the University of the Philippines
and his master’s degree in Business Administration from the
Roosevelt University in Chicago, Illinois. He participated in
several trainings on corporate governance, bank protection,
related party transactions, AML, and branch-based marketing,
among others. His latest trainings include sustainability in the
board room and risk management in the age of COVID-19 in
2020, and effective corporate governance board focus and
digital transformation in 2021.

BOARD OF DIRECTORS
GENARO V. LAPEZ
Independent Director
Genaro V. Lapez, 64, Filipino, was elected as Independent

Director of China Bank on May 6, 2021. He serves as
Independent Director in the Bank subsidiaries CBSI and
CBSC. He is a seasoned strategic and tactical thinker with
extensive local and international experience in banking and
consumer marketing. He was most recently a Senior Advisor
at Union Bank of the Philippines where he also previously
served as Executive Vice President and Head of Center
for Strategic Partnerships and Head of Consumer Finance.
In the past, he held various senior leadership positions at
Royal Numico, Coca-Cola Bottlers Phils. Inc., San Miguel
Corporation, Nabisco, and Time Life./Time-Warner Inc. He
earned his Bachelor of Science degree in Management
Engineering from the Ateneo de Manila University. He has
attended various seminars and training programs, including
The Asian Banker’s Retail Banking Leadership (Certificate
Program), John Clements Consultants and Harvard Business
School’s Retail Banking Future Workshop (Certificate
Program), European Financial Management Association’s
Global Consumer Banking (Certificate Program), and AML
updates, Corporate Governance, and Technology Governance
for Directors from the ICD.
RICARDO R. CHUA
Advisor to the Board
Ricardo R. Chua, 70, Filipino, is Advisor to the Board since

November 1, 2017. He previously held several key positions
in the Bank: as Director from 2008 up to October 2017,
President and Chief Executive Officer from September 2014
up to October 2017, and Chief Operating Officer from 2012
to 2014. He is the Advisor of the Bank’s Technology Steering
Committee and sits on the boards of CBSI and CBCC as
Chairman, and CBC-PCCI as Director. A Certified Public
Accountant, Mr. Chua graduated with a Bachelor of Science
degree in Business Administration, Major in Accounting,
cum laude, from the University of the East, and obtained his
Master’s in Business Management from the AIM. He has had
trainings in banking operations and corporate directorship,
and completed AML updates online course and advanced
corporate governance training, among others.

Management Committee
WILLIAM C. WHANG ROMEO D. UYAN, JR. PATRICK D. CHENG ROSEMARIE C. GAN

President Executive Vice President Executive Vice President Executive Vice President
and Chief Operating Officer and Chief Finance Officer and Head of Retail Banking
Business Segment

MANAGEMENT COMMITTEE
LILIAN YU MAGNOLIA LUISA ALOYSIUS C. DELIA MARQUEZ MANUEL C. TAGAZA ANANIAS S.

Senior Vice President N. PALANCA ALDAY JR. First Vice President II Senior Vice President CORNELIO III*
and Head of Institutional Senior Vice President Senior Vice President and Head of Centralized and Head of Digital Senior Vice President
Banking Group and Head of Financial and Head of Consumer Operations Group Banking Group and Chief Risk Officer
Markets Segment Banking Segment *Ex-officio member

China Bank Management Team
As of April 18, 2022
VICE CHAIRMAN PRESIDENT

Gilbert U. Dee William C. Whang
EXECUTIVE VICE PRESIDENTS

Patrick D. Cheng
Rosemarie C. Gan
Romeo D. Uyan, Jr.
SENIOR VICE PRESIDENTS

Aloysius C. Alday, Jr. Christopher Ma. Carmelo Y. Salazar
Ananias S. Cornelio III Manuel C. Tagaza
Jose L. Osmeña, Jr. Lilian Yu
Magnolia Luisa N. Palanca
FIRST VICE PRESIDENTS

Cristina P. Arceo James Christian T. Dee Elizabeth C. Say
Layne Y. Arpon Antonio Jose S. Dominguez Clara C. Sy
Grace C. Buenavista Maria Luz B. Favis Belenette C. Tan
Lilibeth R. Cariño Gerald O. Florentino Stephen Y. Tan
Amelia Caridad C. Castelo Madelyn V. Fontanilla Marisol M. Teodoro
Melissa F. Corpus Jerry Ron T. Hao Maria Rosanna Catherina L. Testa
Angela D. Cruz Mary Ann T. Lim Geoffrey D. Uy
Francis Andre Z. De Los Santos Delia Marquez
Gerard Majella T. Dee Mandrake P. Medina
VICE PRESIDENTS
Baldwin A. Aguilar Therese G. Escolin Mani Thess Q. Peña-Lee
Ma. Hildelita P. Alano Luellia S. Espine Ma. Cristina T. Perez
Jay Angelo N. Anastacio Pablito P. Flores William Wayne T. Quesang
Juan Emmanuel B. Andaya Francisco Javier C. Galang Jennifer D. Santamaria
Faye Theresa S. Babasa Rafael B. Gamad, Jr. Danilo T. Sarita
Jose Julian E. Baduria, Jr. Cesare’ Edwin M. Garcia Francisco Eduardo A. Sarmiento
Love Virgilynn T. Baking Cristina F. Gotuaco Cherie S. Sia
Ma. Luisa O. Baylosis Ma. Cristina C. Hernandez Irene C. Tanlimco
Bryan P. Benedicto Marlon B. Hernandez Michael C. Tomon
Pamela T. Benito Emir Francis D. Javillonar Ma. Edita Lynn Z. Trinidad
Francis Vincent S. Berdan Ma. Arlene Mae G. Lazaro Harvey L. Ty
Yasmin I. Biticon Shirley C. Lee Jasmin O. Ty
Betty L. Biunas Angelyn Claire C. Liao Virginia Y. Uy
Richard S. Borja Regina Karla F. Libatique Valerie Mariflor G. Valera
Victor Geronimo S. Calo Karyn C. Lim Domini S. Velasquez
Jeannette H. Chan B. Franco C. Loyola Esmeralda R. Vicente
Marie Carolina L. Chua Jennifer Y. Macariola Clarissa Maria A. Villalon
Tani Michelle M. Cruz Ordon P. Maningding Charon B. Wambangco
Domingo P. Dayro, Jr. Ronald R. Marcaida Carina L. Yandoc
Aileen Paulette S. De Jesus Alfredo Manuel E. Moreno George C. Yap
Norman D. Del Carmen Ella May E. Navallo Michelle Y. Yap-Bersales
Gemma B. Deladia Enrico J. Ong Hanz Irvin S. Yoro
Rhodin Evan O. Escolar Jocelyn T. Pavon Mary Joy L. Yu

MANAGEMENT TEAM
SENIOR ASSISTANT VICE PRESIDENTS

Emmanuel L. Abesamis Marissa G. Garcia Alvin A. Quintanilla
Agnes O. Adviento Dennis S. Go II Rhoel T. Reyes
Luis R. Apostol Virginia G. Go Rosauro M. Ricardo
Ma. Florentina U. Arellano Grace Y. Ho Rizza A. Salvino
Maria Marissa A. Auditor Gladys Antonette Marcel P. Isidro Ana Ma. Raquel Y. Samala
Aerol Paul B. Banal Primitivo B. Julito, Jr. Anita Y. Samala
Francis Nicolo D. Basilio Josefina Anna T. Justiniano Julie Ann P. Santiago
Roberto P. Basilio Maria Margaret U. Kua Alejandro F. Santos
Maria Charmina B. Bonifacio Christine Marie D. Lim Charmaine V. Santos
Agnes C. Calimbahin Mary Ann L. Llanes Edgardo M. Santos
Jonathan C. Camarillo Glenn B. Lotho Ma. Graciela C. Santos
Norman Roque V. Causing Kristha Feliz A. Mangahas Ernanie V. Silvino
Jose Juan Maria B. Cordero Katherine N. Manguiat Maria Cecilia D. So
Ma. Jeanette D. Cuyco Sheila Jane F. Medrero Joanne Christie U. Tan
Ricardo J. De Guzman III Tadeos R. Natividad Michaela L. Teng
Aimee-Cel A. De Leon Gil P. Navelgas Hudson Q. Uy
Jinky T. Dela Torre Remedios Emilia R. Olivar David Andrew P. Valdellon
Ma. Lourdes L. Dela Vega Ma. Victoria G. Pantaleon Jonathan T. Valeros
Mary Ann R. Ducanes Josephine D. Paredes Roderick Iluminado U. Vallejo III
Leilani B. Elarmo Noreen S. Purificacion Anthony Ariel C. Vilar
Susan U. Ferrer Leah M. Quiambao Catherine D. Yabes
Hyacinth M. Galang Katherine Joyce C. Quijano Rosario D. Yabut
ASSISTANT VICE PRESIDENTS

Rommel M. Agacita Genevive B. De Jesus Ma. Gladys C. Liwag Evelyn O. Ramos
Nellie S. Alar Reylenita M. Del Rosario Maria Melinda O. Lo Niña May Q. Reynoso
Haris P. Alcantara Marc Patrick A. Dela Paz Mary Grace D. Macaraig Arlene A. Romo
Ma. Chimene C. Alvarez Katherine Jean S. Diamante Jose G. Maravilla III Jouzl Marie C. Roña
Ramiro A. Amanquiton Warren D. Elbo Fe Angeles T. Marcaida Eleanor D. Rosales
Genie N. Ang Eleanor Q. Faigao Rhea D. Matela Marie Christine S. Sagrado-Cabato
Maria Salome P. Angala Michelle A. Farcon Gene Razieg B. Modequillo San Joseph Lloyd A. San Andres
Ronaldo D. Angco Eileen M. Felipe Susie W. Napili Roberto J. Sanchez, Jr.
Ma. Cristina G. Antonio James Royce C. Galang Jose L. Nario, Jr. Edellina C. Santiago
Michelle T. Arriola Marlon F. Galang Edgar S. Neri, Jr. Joanne A. Serrano
Limer Quinnie M. Barbasa Alvin C. Go Maria Josefa R. Nisce John Albert P. Sia
Michelle M. Baroro Amy A. Go Cranston Hans S. Ng Hilarion Z. Silayan III
Katherine Y. Barra Desiree Jade T. Go Wendy G. Ngo Julie A. Sy
Cherie Germaine T. Bautista Irene A. Go See It Rosalie F. Ocampo Jason T. Tamayo
Eric Von D. Baviera John Melvin D. Gomez Paul Albert P. Olivas Andrea A. Tan
Marie Christine R. Blancaflor Maria Violeta M. Gonzales Eleanor C. Ona Anna Liza M. Tan
Ma. Victoria T. Bondoc Juni H. Gotamco Orchid D. Ong Jaydee C. Tan
Christine Z. Briones George D. Gutierrez Lilian B. Orlina Susan Y. Tang
Alalyn J. Buragay Hector B. Holgado Zarah Stephanie B. Pacia Arnel Ferdinand R. Tiglao
Lester Augustus G. Callope Ruth D. Holmes Maricor B. Paez Jacqueline T. Tomacruz
Alex M. Campilan Vivian T. Jasmin Sheilah B. Paglinawan Karen W. Tua
Sherry Anne F. Canillas Carlo Ramon R. Jayme Marco Antonio V. Panajon Cristina C. Ty
Hermenegildo G. Cariño Alvin M. Lacanlalay Jefrey D. Pangilinan Jeff Michael T. Ty
Eleanor S. Cervantes Lorelie Y. Lacson Mary Y. Pe Norman P. Ureta
Ma. Cecilia M. Chiu Jericho D. Lagustan Christine G. Peñafiel Cassandra Ira B. Uy
Maria Rosalie F. Cipriano Ma. Giselle A. Liceralde Ma. Lourdes T. Pineda April Marie O. Yago
Daisy C. Co Kerwin G. Lim Hazel Marie A. Puerto Maria Carolina U. Yonzon
Susan V. Co Pamela Junno B. Lising George Michael F. Punzalan Marie Claire B. Young

Awards
CHINA BANK
The Asset Triple A Sustainable Capital Markets Country and Regional Awards 2021 – The Asset
Best Bank in the Philippines
2022 PDS Annual Awards – Philippine Dealing System

Cesar E.A. Virata Best Securities House (Bank Category)
Top Brokering Participant - Retail Transactions for 2021
Top 2 Fixed Income Dealing Participant for 2021
Top 3 Corporate Securities Market Maker for 2021
Top 3 Fixed Income Brokering Participant for 2021
Strongest Banks 2021 by Balance Sheet – The Asian Banker

2nd Strongest Bank in the Philippines
81st Strongest Bank in Asia Pacific
4th Bank Marketing Awards – Bank Marketing Association of the Philippines

Best Brand Program – China Bank Centennial Program
2021 Outstanding BSP Stakeholders Appreciation – Bangko Sentral ng Pilipinas

Outstanding Stakeholder
ASEAN Corporate Governance Scorecard Golden Arrow Recognition - Institute of Corporate Directors (ICD)
4-Golden Arrow Award
ASEAN Corporate Governance Scorecard Awards - ASEAN Capital Markets Forum

Among the Top 3 Publicly Listed Companies in the Philippines
Among the Top 20 Publicly Listed Companies in ASEAN
ASEAN Asset Class
CHINA BANK CAPITAL
The Asset Triple A Sustainable Capital Markets Country and Regional Awards 2021 – The Asset
Best Bond Adviser (Domestic)
Best New Bond – D&L Industries PHP 5 billion fixed rate retail bond
Best IPO – Monde Nissin PHP 48.6 billion IPO
Best REIT – RL Commercial REIT PHP 23.5 billion IPO
Best Green Bond – Corporate – AC Energy Corporation US$ 400 million fixed-for-life green notes
Best Bond – Globe Telecom US$600 million resettable senior unsecured perpetual capital securities
2022 PDS Annual Awards – Philippine Dealing System

Top Corporate Issue Manager/Arranger (Investment House Category)
IHAP Awards – Investment House Association of the Philippines

Best Fixed Income House

Financial Statements
Disclosure on Capital Structure and Capital

94 Adequacy
104 Report of the Audit Committee
Statement of Management’s Responsibility

105 for Financial Statements
106 Independent Auditors’ Report
Management’s Discussion on Result of Operations

110 and Financial Condition
111 Balance Sheets
112 Statements of Income
113 Statements of Comprehensive Income
114 Statements of Changes in Equity
118 Statements of Cash Flows
121 Notes to Financial Statements

Disclosure on Capital Structure and Capital Adequacy
102-45
Capital Fundamentals
We believe that China Bank can only achieve sustainable growth by maintaining strong capital fundamentals. Major business initiatives
are undertaken with the appropriate capital planning which also takes into consideration constraints and changes in the regulatory
environment. This is necessary to ensure that the Bank’s commercial objectives are equally aligned with its ability to maintain a capital
position at par with the industry. The Board and Senior Management recognizes that a balance should be achieved with respect to
China Bank’s earnings outlook vis-à-vis capital fundamentals that can take advantage of growth opportunities while maintaining
sufficient capacity to absorb shocks.
Risk-based capital components, including deductions, on a consolidated and parent company basis:
Common Capital Equity (Basel III) Consolidated Parent Company

In PhP Million 2021
Common Equity Tier 1 Capital
Paid-up common stock 26,912.88 26,912.88
Additional paid-in capital 17,200.76 17,200.76
Retained Earnings 71,826.21 69,209.08
Other Comprehensive Income 631.16 631.16
Minority Interest 103.77 –
Less: Retained Earnings Appropriated for General Loan Loss Provision (2,165.00) (2,165.00)
Less: Unsecured DOSRI (32.53) (32.16)
Less: Deferred Tax Assets (4,769.44) (4,034.91)
Less: Goodwill (563.47) (222.84)
Less: Other Intangible Assets (3,429.01) (768.44)
Less: Defined Benefit Pension Fund Assets/Liabilities (68.89) –
Less: Investment in Subsidiary (330.53) (13,959.10)
Less: Significant Minority Investment (796.52) (796.52)
Less: Other Equity Investment (122.40) (120.21)
Total CET 1 Capital 104,396.99 91,854.70
Additional Tier 1 Capital – –
Total Tier 1 Capital 104,396.99 91,854.70
Tier 2 Capital
General Loan Loss Provision 5,807.27 5,463.97
Total Qualifying Capital 110,204.26 97,318.67

In PhP Million 2020
Common Equity Tier 1 Capital
Paid-up common stock 26,859.00 26,859.00
Additional paid-in capital 17,122.63 17,122.63
Retained Earnings 59,607.70 56,990.58
Other Comprehensive Income (594.45) (594.45)
Minority Interest 109.00 –
Less: Retained Earnings Appropriated for General Loan Loss Provision (1,513.34) (1,513.34)
Less: Unsecured DOSRI (5.07) (3.20)
Less: Deferred Tax Assets (5,313.53) (4,692.25)
Less: Goodwill (563.47) (222.84)
Less: Other Intangible Assets (3,437.93) (837.53)
Less: Defined Benefit Pension Fund Assets/Liabilities (262.23) (193.35)
Less: Investment in Subsidiary (261.01) (12,828.04)
Less: Significant Minority Investment (912.65) (912.65)
Less: Other Equity Investment (84.77) (82.58)
Forward


In PhP Million 2020
Total CET 1 Capital 90,749.88 79,091.99
Additional Tier 1 Capital – –
Tier 2 Capital
General Loan Loss Provision 5,986.11 5,301.73
Total Qualifying Capital 96,735.99 84,393.72
Risk-based capital ratios:
Basel III Consolidated Parent Company

2021
In PhP Million
CET 1 capital 116,674.78 113,953.88
Less regulatory adjustments (12,277.79) (22,099.18)
Total CET 1 capital 104,396.99 91,854.70
Additional Tier 1 capital – –
Total Tier 1 capital 104,396.99 91,854.70
Tier 2 capital 5,807.27 5,463.97
Total qualifying capital 110,204.26 97,318.67
Risk weighted assets 699,547.39 624,981.80
CET 1 capital ratio 14.92% 14.70%
Tier 1 capital ratio 14.92% 14.70%
Total capital ratio 15.75% 15.57%
Basel III Consolidated Parent Company

2020
In PhP Million
CET 1 capital 103,103.87 100,377.75
Less regulatory adjustments (12,353.99) (21,285.76)
Total CET 1 capital 90,749.88 79,091.99
Additional Tier 1 capital – –
Total Tier 1 capital 90,749.88 79,091.99
Tier 2 capital 5,986.11 5,301.73
Total qualifying capital 96,735.99 84,393.72
Risk weighted assets 656,581.68 578,278.25
CET 1 capital ratio 13.82% 13.68%
The regulatory Basel III qualifying capital of the Group consists of Common Equity Tier 1 capital (going concern capital), which
comprises paid-up common stock, additional paid-in capital, surplus including current year profit, other comprehensive income and
minority interest less required deductions such as unsecured credit accommodations to DOSRI, deferred income tax, other intangible
assets, goodwill, defined benefit pension fund assets/liabilities, and investment in subsidiaries. The other component of regulatory
capital is Tier 2 capital (gone-concern capital), which includes general loan loss provision. A capital conservation buffer of 2.5%
comprised of CET 1 capital is likewise imposed in the Basel III capital ratios.

Full reconciliation of all regulatory capital elements back to the balance sheet in the audited financial statements is presented below:
Consolidated
2021 2020
Audited Audited
Qualifying Reconciling Financial Qualifying Reconciling Financial
Capital Items Statements Capital Items Statements
Common stock 26,913 – 26,913 26,859 – 26,859
Additional paid-in capital 17,201 – 17,201 17,123 – 17,123
Other Equity paid-in capital – – – – (141) 141
Retained Earnings 71,826 (2,110) 73,936 59,608 (1,926) 61,534
Net unrealized gains or losses on FVOCI
securities 216 135 81 274 (20) 294
Cumulative foreign currency translation and
others 415 (535) 950 (869) 119 (988)
Non-controlling interest 104 62 42 109 85 24
Deductions (12,278) (12,278) – (12,354) (12,354) –
Tier 1 (CET1) capital/Total equity 104,397 (14,726) 119,123 90,750 (14,237) 104,987
Tier 2 capital 5,807 5,807 – 5,986 5,986 –
Total qualifying capital/Total equity 110,204 (8,919) 119,123 96,736 (8,251) 104,987
Parent Company
2021 2020
Qualifying Reconciling Audited Qualifying Reconciling Audited
Capital Items Financial Capital Items Financial
Statements Statements
Common stock 26,913 – 26,913 26,859 – 26,859
Additional paid-in capital 17,201 – 17,201 17,123 – 17,123
Other Equity paid-in capital – – – – (141) 141
Retained Earnings 69,209 (4,727) 73,936 56,991 (4,543) 61,534
Net unrealized gains or losses on FVOCI
securities 216 135 81 274 (20) 294
Cumulative foreign currency translation and
others
Deductions 415 (535) 950 (869) 119 (988)
Tier 1 (CET1) capital/Total equity (22,099) (22,099) – (21,286) (21,286) –
Tier 2 capital 91,855 (27,226) 119,081 79,092 (25,871) 104,963
Total qualifying capital/Total equity 5,464 5,464 – 5,302 5,302 –
97,319 (21,762) 119,081 84,394 (20,569) 104,963
The capital requirements for Credit, Market and Operational Risk are listed below, on a consolidated and parent company basis:
Capital Requirement Consolidated Parent Company

in PhP Million 2021 2020 2021 2020
Credit Risk 61,068.72 59,782.59 54,618.48 52,898.00
Market Risk 2,826.12 683.51 2,819.42 673.96
Operational Risk 6,059.90 5,192.07 5,060.28 4,255.87
Total Capital Requirements 69,954.74 65,658.17 62,498.18 57,827.83

Credit Risk
On-balance sheet exposures, net of specific provisions and not covered by CRM (in PhP million):
December 2021
Consolidated Parent Company

On-Balance Sheet Assets Exposures, net of Exposures not Exposures, net of Exposures not
Specific Provisions Covered by CRM Specific Provisions Covered by CRM
Cash on Hand 15,809.59 15,809.59 13,581.16 13,581.16
Checks and Other Cash Items 78.33 78.33 71.80 71.80
Due from BSP 124,003.69 124,003.69 114,388.01 114,388.01
Due from Other Banks 10,532.76 10,532.76 9,386.15 9,386.15
Financial Assets at FVPL 9.96 – 9.96 –
Financial Assets at FVOCI 28,908.58 28,908.58 26,742.03 26,742.03
Investment Securities at Amortized Cost 244,449.13 243,453.17 238,544.43 237,548.47
Loans and Receivables 635,911.71 614,656.08 569,853.32 557,001.47
Loans and Receivables arising from Repurchase 17,328.61 17,328.61 15,800.32 15,800.32
Agreements
Sales Contract Receivables 924.31 924.31 214.68 214.68
Real and Other Properties Acquired 2,277.59 2,277.59 221.64 221.64
Other Assets 19,275.03 19,275.03 13,925.02 13,925.02
Total On-Balance Sheet Assets 1,099,509.30 1,077,247.76 1,002,738.51 988,880.74
December 2020

Cash on Hand 15,793.10 15,793.10 13,613.29 13,613.29
Due from BSP 152,028.25 152,028.25 141,821.66 141,821.66
Loans and Receivables arising from Repurchase 12,023.84 12,023.84 9,336.79 9,336.79
Agreements
Sales Contract Receivables 1,020.36 1,020.36 185.82 185.82
Other Assets 17,678.49 17,678.49 12,050.10 12,050.10
Total On-Balance Sheet Assets 1,018,597.22 994,087.39 919,030.32 901,550.41

December 2019

Cash on Hand 17,024.41 17,024.41 14,703.32 14,703.32
Due from BSP 99,630.53 99,630.53 88,109.65 88,109.65
Loans and Receivables arising from Repurchase
Agreements 12,461.68 12,461.68 5,449.71 5,449.71
Sales Contract Receivables 1,038.71 1,038.71 205.81 205.81
Other Assets 17,176.15 17,176.15 11,000.11 11,000.11
Total On-Balance Sheet Assets 937,300.71 908,799.34 833,802.11 812,549.37
Credit equivalent amount for off-balance sheet items, broken down by type of exposures (in PhP million):
2021 2020 2019

Off-balance Sheet Consolidated Parent Consolidated Parent Consolidated Parent
Assets Notional Credit Notional Credit Notional Credit Notional Notional Notional Notional Notional Notional
Principal Equivalent Principal Equivalent Principal Equivalent Principal Principal Principal Principal Principal Principal
Transaction-related 26,183.61 13,091.81 26,089.65 13,044.83 21,656.78 10,828.39 21,549.73 10,774.86 63,504.13 31,752.06 63,386.79 31,693.40
contingencies
Trade-related 3,866.81 773.36 3,862.96 772.59 5,986.61 1,197.32 5,978.36 1,195.67 5,286.34 1,057.27 5,273.64 1,054.73
contingencies arising
from movement of
goods
Other commitments 242,928.59 – 242,391.06 – 230,245.64 – 229,941.53 – 208,932.75 – 208,575.86 –
(which can be
unconditionally
cancelled at any time by
the bank without prior
notice)
Total Notional
Principal and Credit 272,979.01 13,865.17 272,343.68 13,817.42 257,889.02 12,025.71 257,469.62 11,970.54 277,723.22 32,809.33 277,236.30 32,748.12
Equivalent Amount
Credit equivalent amount for counterparty credit risk in the trading book, broken down by type of exposures (in PhP million):
December 2021

Standardized Approach Notional Principal Credit Equivalent Notional Principal Credit Equivalent
Interest Rate Contracts 2,172.98 12.11 2,172.98 12.11
Exchange Rate Contracts 46,799.69 864.79 46,799.69 864.79
Equity Contracts – – – –
Credit Derivatives – – – –
Total Notional Principal and
48,972.67 876.90 48,972.67 876.90
Credit Equivalent Amount

December 2020

Standardized Approach
Notional Principal Credit Equivalent Notional Principal Credit Equivalent
Total Notional Principal and 31,957.38 437.14 31,957.38 437.14
December 2019

Standardized Approach
Notional Principal Credit Equivalent Notional Principal Credit Equivalent
Total Notional Principal and
37,947.59 485.43 37,947.59 485.43
Net Exposures after CRM for counterparty credit risk in the banking book, broken down by type of exposures (in PhP million):
December 2021

Standardized Approach Fair Value/ Net Exposures Fair Value/ Net Exposures
Carrying Amount after CRM Carrying Amount after CRM
Derivative Transactions – – – –
Repo-Style Transactions 73,943.11 10,816.70 73,943.11 10,816.70
Total Fair Value/Carrying Amount and Net
73,943.11 10,816.70 73,943.11 10,816.70
Exposures after CRM
December 2020

20,298.52 2,792.44 20,298.52 2,792.44
Exposures after CRM
December 2019

19,443.72 2,652.82 19,443.72 2,652.82
Exposures after CRM

The following credit risk mitigants are used in the December 2021 CAR Report:
• ROP warrants
• ROP guarantee
• HGC guarantee
• Holdout vs. Peso deposit
• Holdout vs. FCDU deposit
• Assignment / Pledge of Government Securities
Total credit exposure after risk mitigation, broken down by type of exposures, risk buckets, as well as those that are deducted from
capital (in PhP million):
2021
Weight Consolidated Parent Company
Band On-balance Off-balance On-balance Off-balance
Counterparty Total Counterparty Total
sheet sheet sheet sheet
Below 100% 599,059.49 5,803.77 11,362.79 616,226.05 564,535.18 5,803.77 11,362.79 581,701.75
100% and
478,188.27 8,061.40 330.80 486,580.46 424,345.56 8,013.65 330.80 432,690.00
Above
Total 1,007,247.76 13,865.17 11,693.59 1,102,806.52 988,880.74 13,817.42 11,693.59 1,014,391.75
2020
Below 100% 495,905.86 3,190.63 3,111.84 502,208.32 460,877.61 3,190.63 3,111.84 467,180.08
100% and
498,181.54 8,835.09 117.74 507,134.36 440,672.79 8,779.91 117.74 449,570.44
Above
Total 994,087.39 12,025.71 3,229.58 1,009,342.68 901,550.41 11,970.54 3,229.58 916,750.52
2019
Below 100% 469,596.95 1,555.79 2,971.71 474,124.45 430,163.75 1,555.79 2,971.71 434,691.26
100% and
439,202.39 31,253.54 166.53 470,622.47 382,385.62 31,192.33 166.53 413,744.49
Above
Total 908,799.34 32,809.33 3,138.25 944,746.92 812,549.37 32,748.12 3,138.25 848,435.75
Total credit risk-weighted assets, broken down by type of exposures (in PhP million):
2021
Below
113,234.38 2,060.75 4,166.05 119,461.19 105,336.46 2,060.75 4,166.05 111,563.26
100%
100% and
482,770.09 8,061.40 330.80 491,162.28 426,425.79 8,013.65 330.80 434,770.24
Above
Covered by
63.77 – – 63.77 63.77 – – 63.77
CRM
Excess
–
GLLP 212.48
Total 596,068.24 10,122.15 4,496.85 610,687.24 531,826.02 10,074.40 4,496.85 546,184.78

2020
Below
83,061.73 638.13 1,555.84 85,255.70 75,422.72 638.13 1,555.84 77,616.69
100%
100% and
Above 504,352.63 8,835.09 117.74 513,305.45 443,608.38 8,779.91 117.74 452,506.03
Covered by
49.86 – – 49.86 49.86 – – 49.86
CRM
Excess
GLLP 785.08 1,192.55
Total 587,464.22 9,473.21 1,673.58 597,825.93 519,080.97 9,418.04 1,673.58 528,980.04
2019
Below
104,405.21 311.16 1,218.67 105,935.03 95,647.30 311.16 1,218.67 97,177.13
100%
100% and
442,498.63 31,253.54 166.53 473,918.70 383,146.28 31,192.33 166.53 414,505.15
Above
Covered by
80.54 - - 80.54 80.54 - - 80.54
CRM
Excess
280.75 747.37
GLLP
Total 546,984.37 31,564.70 1,385.20 579,653.53 478,874.12 31,503.49 1,385.20 511,015.45
The credit ratings given by the following rating agencies were used to determine the credit risk weight of On-balance sheet, Off-
balance sheet, and Counterparty exposures:
For all rated credit exposures regardless of currency

Standard & Poor (S&P)
Moody’s
Fitch
For PH-denominated debts and loans (regardless of currency) of domestic entities:

Philratings

Market Risk-Weighted Assets
The Standardized Approach is used in China Bank’s market risk-weighted assets. The total market risk-weighted asset of the Bank as
of December 2021 is P28,261.17 million on a consolidated basis and P28,194.25 million for the parent company. This is composed
of Interest Rate exposures amounting to P27,357.40 million and Foreign Exposures amounting to P903.77 million on a consolidated
basis, and Interest Rate exposures amounting to P27,357.40 million and Foreign Exposures amounting to P836.85 million for the
parent company.
Consolidated Parent Company Consolidated Parent Company

Interest Rate Exposures (in PhP Mn)
2021 2020
Specific Risk
184.39 184.39 89.24 89.24
General Market Risk
22.53 22.53 162.56 162.56
PHP
1,981.67 1,981.67 244.44 244.44
FCY
2,188.59 2,188.59 496.24 496.24
Total Capital Charge
2,735.74 2,735.74 620.30 620.3
Adjusted Capital Charge
Subtotal Market Risk-Weighted Assets 27,357.40 27,357.40 6,203.04 6,203.04

Equity Exposures
2021 2020
Total Capital Charge – – – –
Adjusted Capital Charge – – – –
Subtotal Market Risk-Weighted Assets – – – –

Foreign Exchange Exposures
2021 2020
Total Capital Charge 72.30 66.95 50.56 42.92
Adjusted Capital Charge 90.38 83.69 63.20 53.65
Subtotal Market Risk-Weighted Assets 903.77 836.85 632.04 536.51
Total Market Risk-Weighted Assets 28,261.17 28,194.25 6,835.08 6,739.55
Operational, Legal, and Other Risks
The enterprise-wide risk management framework of the bank covers measurement of operational risks to facilitate management and
the setting up of capital cover. The Bank monitors its operational risk exposures through using tools that include Key Risk Indicators,
Risk Assessments and Control Self Assessments as well as scenario analyses. The capital allocated by the bank for Operational Risk
amounted to PHP 6,060 million of which PHP 5,060 million was allocated to the operation of the Parent Bank. Both figures were more
than adequate to cover the computed overall operational risk exposure for the Group and for the parent respectively. In addition, the
Bank through its Legal & Collection Group identified and assessed potential losses attributed to Legal Risk and the amount is not
material to significantly affect the Bank’s capital position.

Operational Risk-Weighted Assets
The bank risk weights its assets for purposes of operational risk using the Basic Indicators Approach. Banks using this method
recognize a risk weighted asset that is 1.25 times fifteen percent of the average operating income reported by the bank over the last
three reporting periods. Total Operational Risk Weighted Assets reported were as follows:
In PHP millions 2021 2020

Parent 50,603 42,559
Group 60,599 51,921
Interest Rate Risk In The Banking Book
The Bank’s interest rate risk in the banking book (IRRBB) originates from its holdings of interest rate sensitive assets and interest rate
sensitive liabilities. The repricing mismatch exposes the Bank to movements in interest rates. To measure the impact to the Bank’s
net interest income, a sensitivity analysis thru the Earnings-at-Risk (EaR) method is performed. In this method, Loans are assumed
affected by interest rate movements on its repricing date for floating rates and on its maturity for fixed rates. Demand and savings
deposits, on the other hand, are generally considered not sensitive to interest rate movements. EaR results are discussed in Asset
and Liability (ALCO) meetings every week. Aside from measuring exposure to movements in interest rates, the Bank also performs
stress testing for adverse changes in interest rates during stress events. Results are reported to the Risk Oversight Committee (ROC)
every month.
Provided in the table below are the approximate addition and reduction in annualized net interest income of a 100bps change across
the yield curve.

Earnings-at-Risk in PhP Million
2021 2020 2021 2020
Upward 1,428 1,433 1,369 1,430
Downward 1,465 1,398 1,385 1,396

Report of the Audit Committee
The Audit Committee provides a structured, systematic oversight of the The Committee discussed with SGV the annual audited financial statements,
governance, risk management and internal control processes of China management letter, and the disposition of the recommendations, regulatory
Banking Corporation. It is a Board-level Committee exercising primary and accounting issues and developments and their effect on the financial
oversight over all matters pertaining to the internal control system, financial statements. The discussion also focused on results of audit and confirmation
reporting, internal and external audit processes, whistleblowing, and procedures and covered areas prescribed by the Bangko Sentral ng Pilipinas
compliance of the Bank with applicable laws and regulations. It provides the (BSP) and other regulatory agencies.
Board with independent and objective advice and guidance on the adequacy
and effectiveness of management’s activities and initiatives and potential The Committee approved SGV’s engagement fees in connection with the
improvement in areas within its authority. audit of the Bank’s financial statements, independent validation of votes for
the stockholders’ meeting, and other non-audit work. It improved its approval
The Committee is composed of three (3) non-executive members of the process for both non-audit and audit engagements with external assurance
Board of Directors – Independent Director Claire Ann T. Yap serves as the providers to ensure that any non-audit work that will conflict with the duties
Chairperson, with Non-Executive Director Joaquin T. Dee and Independent of the external auditors is disallowed.
Director Philip S.L. Tsai as members. All of the members have relevant
background, knowledge, skills and experience in the areas of accounting, INTERNAL AUDIT FUNCTION
auditing and financial management commensurate with the size, complexity
of operations and risk profile of the Bank. The Committee monitored and reviewed the effectiveness of the internal
audit function. To obtain reasonable assurance with respect to the Bank’s
For the year ended 31 December 2021, the Committee held twelve regular internal audit function, the Committee reviewed and approved the Bank’s
meetings and two special meetings. The participation in the meetings was risked-based internal audit plan, scope, frequency of work and budget,
exercised in person or through remote communication in accordance with including the resources necessary to achieve the plan. It evaluated the
the Board-approved Guidelines for Participation in Board and Committee strategies and results of activities versus plans of Audit Division’s Audit
Meetings through Remote Communication. The Committee discussed and Quality Assurance Department, Branch Audit Department, Head Office and
deliberated on matters set out below. Subsidiaries Audit Department, and IT Audit Department. The discussions
included updates, deferments and changes in their respective audit
INTERNAL CONTROL AND COMPLIANCE SYSTEM engagements and audit plans, the impact of the COVID-19 pandemic to Audit
Division’s operations, actions taken and strategies in terms of audit coverage
The Committee exercised oversight over management to ensure that and scope, and the internal auditors’ continuing professional development
an adequate, effective and efficient internal control system, including activities. It also approved the Policy on Coordination and Reliance with other
information technology security and control, is established, maintained and Assurance Service Providers. The full integration to the Bank of subsidiary
improved. It reviewed and discussed with management, external auditors China Bank Savings’ internal audit function was also taken up and favorably
and internal audit various matters including management’s assessment of the acted upon as part of the strategic plan to promote a group-wide mindset
adequacy of internal controls of the Bank as a whole and its individual units. aimed to continuously harmonize and rationalize processes and procedures
It evaluated the actions and responses to the internal control issues noted and to leverage on the economies of scale.
during internal audit and determined that appropriate and timely corrective
actions were taken to address significant deficiencies and weaknesses. In addition, the Committee discussed the Chief Audit Executive’s
Reports on matters of significance arising from work performed by providers confirmation of the organizational independence of internal audit activity and
of financial and internal control assurance were provided to the Committee auditors’ objectivity, his attestation on the Bank’s control processes and his
for its disposition. adherence to the Institute of Internal Auditors’ Standard and Implementation
Guide 2130 on Control. Further, the Committee evaluated the performance
The Committee also reviewed the effectiveness of the Bank’s system of the Chief Audit Executive and ensured that his performance of the internal
for monitoring compliance with laws and regulations and the results audit function is free from interference by outside parties. It also monitored
of management’s investigation and follow-up of any instances of non- the conformance of the internal audit function with the Institute of Internal
compliance. It also invited relevant resource persons to provide updates to Auditors’ International Standards for the Professional Practice of Internal
the Committee on outstanding audit issues arising from the regular, limited Auditing, and the Code of Ethics.
and special audits of branches and units, and status of unresolved or unacted
high risk audit and management issues. Based on the foregoing, the Committee views that the Bank’s internal control,
compliance system and financial reporting framework are in place, adequate,
FINANCIAL REPORTING FRAMEWORK effective and efficient, and that the financial statements present fairly the
financial position and performance of the Bank in all material respects in
The Committee looked into the financial reporting processes, practices and accordance with the relevant auditing and accounting standards.
controls of the Bank to make sure that the reporting framework enabled the
generation and preparation of accurate and comprehensive information and Makati City, 28 February 2022.
reports. The Committee reviewed the annual audited financial statements,
taking into account key audit matters and areas of audit emphasis, changes
in accounting policies and practices, standards and interpretations and their
related impact. The Committee discussed with the external auditors the
management letter containing comments and suggestions to improve the
Bank’s financial reporting framework. CLAIRE ANN T. YAP
Chairperson
EXTERNAL ASSURANCE PROCESSES AND PROVIDERS
The Committee recommended to the Board and stockholders the re-

engagement in 2021 of SyCip Gorres Velayo & Co. (SGV) as the external
auditor of the Bank after obtaining reasonable assurance with respect to
JOAQUIN T. DEE PHILIP S.L. TSAI
the work of the external assurance providers and upon careful evaluation of Member Member
their qualifications, performance, competence, integrity, and independence.

Statement of Management’s Responsibility

for Financial Statements
The management of China Banking Corporation (the Bank) is responsible for the preparation and fair presentation of the consolidated
financial statements including the schedules attached therein, for the years ended December 31, 2021 and 2020, in accordance with
the prescribed financial reporting framework indicated therein, and for such internal control as management determines is necessary
to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, management is responsible for assessing the Bank’s ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless
management either intends to liquidate the Bank or to cease operations, or has no realistic alternative but to do so.
The Board of Directors is responsible for overseeing the Bank’s financial reporting process.
The Board of Directors reviews and approves the consolidated financial statements including the schedules attached therein, and
submits the same to the stockholders.
SyCip Gorres Velayo & Co., the independent auditors appointed by the stockholders, has audited the consolidated financial statements
of the Bank in accordance with Philippine Standards on Auditing, and in its report to the stockholders, has expressed its opinion on
the fairness of presentation upon completion of such audit.
Hans T. Sy William C. Whang Patrick D. Cheng

Chairman of the Board President Chief Finance Officer

Independent Auditors’ Report
The Board of Directors and Stockholders

China Banking Corporation
8745 Paseo de Roxas cor. Villar St.
Makati City
Report on the Consolidated and Parent Company Financial

Statements
Opinion
We have fulfilled the responsibilities described in the Auditor’s
We have audited the consolidated financial statements of China Responsibilities for the Audit of the Consolidated and Parent Company
Banking Corporation and its subsidiaries (the Group) and the parent Financial Statements section of our report, including in relation to
company financial statements of China Banking Corporation, which these matters. Accordingly, our audit included the performance of
comprise the consolidated and parent company balance sheets as procedures designed to respond to our assessment of the risks
at December 31, 2021 and 2020, and the consolidated and parent of material misstatement of the consolidated and parent company
company statements of income, consolidated and parent company financial statements. The results of our audit procedures, including
statements of comprehensive income, consolidated and parent the procedures performed to address the matters below, provide the
company statements of changes in equity and consolidated and parent basis for our audit opinion on the accompanying consolidated and parent
company statements of cash flows for each of the three years in the company financial statements.
period ended December 31, 2021, and notes to the consolidated and
parent company financial statements, including a summary of significant Applicable to the audit of the Consolidated and Parent Company
accounting policies. Financial Statements
In our opinion, the accompanying consolidated and parent company Adequacy of allowance for credit losses
financial statements present fairly, in all material respects, the financial
position of the Group and the Parent Company as at December 31, 2021 The Group’s and the Parent Company’s application of the expected
and 2020, and their financial performance and their cash flows for each credit loss (ECL) model in calculating the allowance for credit losses on
of the three years in the period ended December 31, 2021 in accordance loans and receivables is significant to our audit as it involves the exercise
with Philippine Financial Reporting Standards (PFRSs). of significant management judgment. Key areas of judgment include:
segmenting the Group’s and the Parent Company’s credit risk exposures;
Basis for Opinion determining the method to estimate ECL; defining default; identifying
exposures with significant deterioration in credit quality, taking into
account extension of payment terms and payment holidays provided as
We conducted our audits in accordance with Philippine Standards
a result of the coronavirus pandemic; determining assumptions to be
on Auditing (PSAs). Our responsibilities under those standards are
used in the ECL model such as the counterparty credit risk rating, the
further described in the Auditor’s Responsibilities for the Audit of the
expected life of the financial asset, expected recoveries from defaulted
Consolidated and Parent Company Financial Statements section of our
accounts, and impact of any financial support and credit enhancements
report. We are independent of the Group and the Parent Company in
extended by any party; and incorporating forward-looking information,
accordance with the Code of Ethics for Professional Accountants in
including the impact of the coronavirus pandemic, in calculating ECL.
the Philippines (Code of Ethics) together with the ethical requirements
that are relevant to our audit of the consolidated and parent company
Allowance for credit losses for loans and receivables as of December
financial statements in the Philippines, and we have fulfilled our other
31, 2021 for the Group and the Parent Company amounted to P15.06
ethical responsibilities in accordance with these requirements and the
billion and P12.49 billion, respectively. Provision for credit losses of the
Code of Ethics. We believe that the audit evidence we have obtained is
Group and the Parent Company in 2021 amounted to 8.88 billion and
sufficient and appropriate to provide a basis for our opinion.
P7.68 billion, respectively.
Key Audit Matters Refer to Notes 3 and 16 of the financial statements for the disclosure
on the details of the allowance for credit losses using the ECL model.
Key audit matters are those matters that, in our professional judgment,
were of most significance in our audit of the consolidated and parent Audit Response
company financial statements of the current period. These matters were
addressed in the context of our audit of the consolidated and parent We obtained an understanding of the board approved methodologies and
company financial statements as a whole, and in forming our opinion models used for the Group’s and the Parent Company’s different credit
thereon, and we do not provide a separate opinion on these matters. exposures and assessed whether these considered the requirements
For each matter below, our description of how our audit addressed the of PFRS 9, Financial Instruments to reflect an unbiased and probability-
matter is provided in that context. weighted outcome, and to consider time value of money and the best
available forward-looking information.

We (a) assessed the Group’s and the Parent Company’s segmentation of its Audit response
credit risk exposures based on homogeneity of credit risk characteristics;
(b) tested the definition of default and significant increase in credit risk We obtained an understanding of the Parent Company’s objectives for
criteria against historical analysis of accounts, credit risk management disposals of investment securities at amortized cost through inquiries
policies and practices in place, and management’s assessment with management and review of approved internal documentations,
of the impact of the coronavirus pandemic on the counterparties; including governance over the disposals. We evaluated management’s
(c) tested the Group’s and the Parent Company’s application of internal assessment of the impact of the disposals in reference to the Parent
credit risk rating system, including the impact of the coronavirus pandemic Company’s business models and the provisions of the relevant
on the borrowers, by reviewing the ratings of sample credit exposures; accounting standards and regulatory issuances. We recalculated the
(d) assessed whether expected life is different from the contractual life gains on the disposals and the measurement of the remaining securities
by testing the maturity dates reflected in the Group’s and the Parent in the affected portfolios.
Company’s records and considering management’s assumptions
regarding future collections, advances, extensions, renewals and We reviewed the disclosures related to the disposals based on the
modifications; (e) tested loss given default by inspecting historical requirements of PFRS 7, Financial Instruments: Disclosures, PFRS 9
recoveries and related costs, write-offs and collateral valuations, and and Philippine Accounting Standard (PAS 1), Presentation of Financial
the effects of any financial support and credit enhancements provided Statements.
by any party; (f) tested exposure at default considering outstanding
commitments and repayment scheme; (g) evaluated the forward-looking Impairment testing of goodwill and branch licenses with indefinite
information used for overlay through corroboration of publicly available useful life
information and our understanding of the Group’s and the Parent
Company’s lending portfolios and broader industry knowledge, including Under PFRS, the Group and the Parent Company are required to
the impact of the coronavirus pandemic; and (h) tested the effective perform annual impairment test of goodwill and branch licenses
interest rate used in discounting the expected loss. with indefinite useful life. As of December 31, 2021, the goodwill
recognized in the consolidated and parent company financial
Further, we compared the data used in the ECL models from source statements amounting to P222.84 million is attributed to the Parent
system reports to the data warehouse and from the data warehouse to Company’s Retail Banking Business (RBB) segment, while goodwill of
the loss allowance analysis/models and financial reporting systems. To P616.91 million in the consolidated financial statements is attributed to
the extent that the loss allowance analysis is based on credit exposures the subsidiary bank, China Bank Savings, Inc. (CBSI). In addition, the
that have been disaggregated into subsets of debt financial assets with respective branches are identified as the cash-generating units (CGUs)
similar risk characteristics, we traced or re-performed the disaggregation for purposes of impairment testing of branch licenses. The Group and
from source systems to the loss allowance analysis. We also assessed the Parent Company performed the impairment testing using the CGUs’
the assumptions used where there are missing or insufficient data. value-in-use.
We involved our internal specialist in the performance of the above Management’s assessment process requires significant judgment and
procedures. We recalculated impairment provisions on a sample basis. is based on assumptions which are subject to higher level of estimation
uncertainty due to the current economic conditions which have been
Accounting for disposals of investment securities under a hold-to- impacted by the coronavirus pandemic, specifically loan and deposit
collect business model growth rates, discount rate and the long-term growth rate. Hence, the
annual impairment test is significant to our audit.
In 2021, the Parent Company disposed investment securities managed
under the hold-to-collect (HTC) business model with aggregate The Group’s disclosures about goodwill and branch licenses are included
carrying amount of P55.77 billion. The disposals resulted in a gain of in Notes 3 and 14 to the financial statements.
P4.06 billion. Investment securities held under a hold-to-collect business
model, which are classified as ‘Investment securities at amortized cost’, Audit Response
are managed to realize cash flows by collecting contractual payments
over the life of the instrument. We evaluated the methodologies used and the management’s
assumptions by comparing the key assumptions used, such as loan
The accounting for the disposals is significant to our audit because and deposit growth and long-term growth rates against the historical
the amounts involved are material (23.01% and 23.60% of the total performance of the branches, RBB and CBSI, industry/market outlook
investment securities at amortized cost of the Group and the Parent and other relevant external data, taking into consideration the impact
Company, respectively). Moreover, it involves the exercise of significant associated with the coronavirus pandemic. We tested the parameters
judgment by management in assessing whether the disposals are used in the determination of the discount rate against market data.
consistent with the HTC business model and that it would not impact We also reviewed the Group’s disclosures about those assumptions to
the measurement of the remaining securities in the affected portfolios. which the outcome of the impairment test is most sensitive; specifically
those that have the most significant effect on the determination of the
The disclosures related to the disposals of investment securities are recoverable amount of goodwill and branch licenses.
included in Notes 3 and 9 to the financial statements.

Independent Auditors’ Report
Recoverability of deferred tax assets Responsibilities of Management and Those Charged with
Governance for the Consolidated and Parent Company Financial
As of December 31, 2021, the deferred tax assets of the Group and Statements
the Parent Company amounted to P4.62 billion and P3.41 billion. The
recognition of deferred tax assets is significant to our audit because Management is responsible for the preparation and fair presentation of
it requires significant judgment and is based on assumptions such as the consolidated and parent company financial statements in accordance
availability of future taxable income and the timing of the reversal of with PFRSs, and for such internal control as management determines
the temporary differences that are affected by expected future market is necessary to enable the preparation of consolidated and parent
or economic conditions and the expected performance of the Group. company financial statements that are free from material misstatement,
The estimation uncertainty on the Group’s and the Parent Company’s whether due to fraud or error.
expected performance has increased as a result of the uncertainties
brought about by the coronavirus pandemic. In preparing the consolidated and parent company financial statements,
management is responsible for assessing the Group’s and Parent
The disclosures in relation to deferred income taxes are included in Company’s ability to continue as a going concern, disclosing, as
Notes 3 and 28 to the financial statements. applicable, matters related to going concern and using the going concern
basis of accounting unless management either intends to liquidate
Audit Response the Group and the Parent Company or to cease operations, or has no
realistic alternative but to do so.
We involved our internal specialist in interpreting the tax regulations,
testing the temporary differences identified by the Group and the
Those charged with governance are responsible for overseeing the
Parent Company, and the applicable tax rate. We also re-performed the
Group’s and Parent Company’s financial reporting process.
calculation of the deferred tax assets. We evaluated the management’s
assessment on the availability of future taxable income in reference
Auditor’s Responsibilities for the Audit of the Consolidated and Parent
to financial forecast and tax strategies. We evaluated management’s
Company Financial Statements
forecast by comparing the loan portfolio and deposit growth rates to
the historical performance of the Group and the industry, including
Our objectives are to obtain reasonable assurance about whether the
future market circumstances and taking into consideration the impact
consolidated and parent company financial statements as a whole are
associated with the coronavirus pandemic. We also assessed the timing
free from material misstatement, whether due to fraud or error, and
of the reversal of future taxable and deductible temporary differences.
to issue an auditor’s report that includes our opinion. Reasonable
assurance is a high level of assurance, but is not a guarantee that an
Other Information audit conducted in accordance with PSAs will always detect a material
misstatement when it exists. Misstatements can arise from fraud or
Management is responsible for the other information. The other error and are considered material if, individually or in the aggregate, they
information comprises the information included in the SEC Form 20IS could reasonably be expected to influence the economic decisions of
(Definitive Information Statement), SEC Form 17A and Annual Report users taken on the basis of these consolidated and parent company
for the year ended December 31, 2021, but does not include the financial statements.
consolidated and parent company financial statements and our auditor’s
report thereon. The SEC Form 20IS (Definitive Information Statement), As part of an audit in accordance with PSAs, we exercise professional
SEC Form 17A and Annual Report for the year ended December 31, 2021 judgment and maintain professional skepticism throughout the audit.
are expected to be made available to us after the date of this auditor’s We also:
report.
• Identify and assess the risks of material misstatement of the
Our opinion on the consolidated and parent company financial statements consolidated and parent company financial statements, whether
does not cover the other information and we will not express any form of due to fraud or error, design and perform audit procedures
assurance conclusion thereon. responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The
risk of not detecting a material misstatement resulting from fraud
In connection with our audits of the consolidated and parent company
is higher than for one resulting from error, as fraud may involve
financial statements, our responsibility is to read the other information
collusion, forgery, intentional omissions, misrepresentations, or
identified above when it becomes available and, in doing so, consider
the override of internal control.
whether the other information is materially inconsistent with the
consolidated and parent company financial statements or our knowledge
• Obtain an understanding of internal control relevant to the audit
obtained in the audits, or otherwise appears to be materially misstated.
in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion
on the effectiveness of the Group’s and Parent Company’s internal
control.

• Evaluate the appropriateness of accounting policies used and the Report on the Supplementary Information Required Under
reasonableness of accounting estimates and related disclosures Bangko Sentral ng Pilipinas (BSP) Circular No. 1074 and Revenue
made by management. Regulations 152010
• Conclude on the appropriateness of management’s use of the Our audits were conducted for the purpose of forming an opinion on
going concern basis of accounting and, based on the audit evidence the basic financial statements taken as a whole. The supplementary
obtained, whether a material uncertainty exists related to events information required under BSP Circular No. 1074 in Note 38 and
or conditions that may cast significant doubt on the Group’s and Revenue Regulations 152010 in Note 39 to the financial statements is
Parent Company’s ability to continue as a going concern. If we presented for purposes of filing with the BSP and Bureau of Internal
conclude that a material uncertainty exists, we are required to draw Revenue, respectively, and is not a required part of the basic financial
attention in our auditor’s report to the related disclosures in the statements. Such information is the responsibility of the management
consolidated and parent company financial statements or, if such of China Banking Corporation. The information has been subjected
disclosures are inadequate, to modify our opinion. Our conclusions to the auditing procedures applied in our audit of the basic financial
are based on the audit evidence obtained up to the date of our statements. In our opinion, the information is fairly stated, in all material
auditor’s report. However, future events or conditions may cause respects, in relation to the basic financial statements taken as a whole.
the Group and the Parent Company to cease to continue as a going
concern. The engagement partner on the audit resulting in this independent
auditor’s report is Janet A. Paraiso.
• Evaluate the overall presentation, structure and content of the
consolidated and parent company financial statements, including
the disclosures, and whether the consolidated and parent company SYCIP GORRES VELAYO & CO.
financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial

information of the entities or business activities within the Group to
Janet A. Paraiso
express an opinion on the consolidated financial statements. We
Partner
are responsible for the direction, supervision and performance of
CPA Certificate No. 92305
the audit. We remain solely responsible for our audit opinion.
Tax Identification No. 193-975-241
BOA/PRC Reg. No. 0001, August 25, 2021, valid until April 15, 2024
We communicate with those charged with governance regarding,
among other matters, the planned scope and timing of the audit and SEC Partner Accreditation No. 92305-SEC (Group A)
significant audit findings, including any significant deficiencies in internal Valid to cover audit of 2021 to 2025 financial statements of
control that we identify during our audit. SEC covered institutions
SEC Firm Accreditation No. 0001-SEC (Group A)
We also provide those charged with governance with a statement Valid to cover audit of 2021 to 2025 financial statements of
that we have complied with relevant ethical requirements regarding SEC covered institutions
independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, BIR Accreditation No. 08-001998-062-2020, December 3, 2020, valid
and where applicable, related safeguards. until December 2, 2023
PTR No. 8853462, January 3, 2022, Makati City
From the matters communicated with those charged with governance,
we determine those matters that were of most significance in the February 28, 2022
audit of the consolidated and parent company financial statements
of the current period and are therefore the key audit matters. We
describe these matters in our auditor’s report unless law or regulation
precludes public disclosure about the matter or when, in extremely rare
circumstances, we determine that a matter should not be communicated
in our report because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest benefits of such
communication.

Management’s Discussion
on Result of Operations and Financial Condition
RESULT OF OPERATIONS FINANCIAL CONDITION
China Bank posted a 25.1% increase in net income to China Bank’s consolidated assets ended at P1.1 trillion as of
P15.1 billion in 2021 on the back of sustained core business December 31, 2021, up P76.3 billion or 7.4% year-on-year, fueled
growth and effective cost management. This translated to by the expansion in investment securities and loans.
an improved return on equity of 13.58% and return on assets
of 1.45%. Total investment securities amounted to P279.4 billion, up
18.4%. Financial assets at fair value through profit or loss
Net interest income grew by 13.2% to P38.3 billion from dropped 46.2% to P7.2 billion due to securities disposal during
P33.8 billion in 2020, supported by lower interest expense the year. Meanwhile, financial assets at fair value through other
which dropped by 44.3% to P7.4 billion. This resulted in a better comprehensive income and investment securities at amortized
net interest margin of 4.20% from 3.92%. cost posted increases by 41.6% and 19.8%, respectively, with
the growth in such investments. Derivative contracts designated
Non-interest income recorded a 3.5% uptick to P10.4 billion, as hedges amounting to P1.1 billion was also booked in relation
underpinned by a 38.6% increase in core fee-based income to interest rate swap contracts used as hedging instruments
and the P4.0 billion net gain on trading and disposal of against time deposits. The Bank’s liquidity ratio was recorded at
investment securities at amortized cost. Service charges, fees, 42%, slightly lower than 43% as of end-2020.
and commissions rose by 29.2% to P3.5 billion due to higher
investment banking commissions and loans- and deposits- Gross loans grew by 9.1% to P624.3 billion, underscored by a
related revenues. Trust fee income saw a 10.0% jump to P451.0 normalizing demand for credit in both business and consumer
million following the sustained build-up in trust department sectors as the economy gradually opens up with loosened
accounts. Foreign exchange gain rose by 3.2x to P686.9 million COVID-related restrictions. Net loans stood at P609.0 billion.
because of favorable foreign exchange trading activities. The Consumer loans, which accounted for 20% of the total portfolio,
upturn in sales of foreclosed assets resulted in the doubling of grew 7.7% to P122.5 billion. The Bank’s gross non-performing
gain on sale of investment properties to P388.3 million and a loans (NPL) ratio was lower (better) than industry at 2.5%, and
P110.2 million swing in gain on asset foreclosure and dacion NPL cover remained sufficient at 116%.
transactions to P87.5 million. Miscellaneous income totaled
P1.3 billion, up 32.6% from P952.2 million driven by higher On the funding side, deposits ended the year higher by 3.3%
bancassurance fees and other transaction-based revenues. at P862.9 billion, which was fueled by the 18.4% build-up in
current and savings account (CASA) deposits. The Bank’s CASA
The Bank controlled the movement in operating expenses ratio significantly improved to 64% from 56%. On the other
(excluding provision for impairment and credit losses) at hand, bonds payable decreased by 18.4% to P42.5 billion. The
P22.3 billion. The material components of which include net decrease reflects the settlement of the Bank’s P30 billion
compensation and fringe benefits which accounted for 34% of fixed-rate bond, as well as the issuance of another P20 billion
total expenses, taxes & licenses at 16%, insurance at 9%, and fixed-rate bond in February 2021 and due in 2024.
miscellaneous expenses at 15%. China Bank’s combined efforts
of prudent spending, digitization, and continued investment in Total capital reached P119.1 billion, 13.5% higher than the
growth strategies led to a better cost-to-income ratio of 46% P105.0 billion recorded in 2020. The Bank’s Common Equity
from 49%. Tier 1 ratio was computed at 14.92%, while total Capital
Adequacy Ratio was at 15.75%. Both are above the regulatory
The Bank recognized provision for impairment and credit losses minimum requirement.
worth P8.9 billion, unchanged vis-à-vis the 2020 amount.
For 2021, China Bank paid a cash dividend of P1.00 per share or
a total of P2.7 billion, which represents a total payout of 22% of
prior year’s net income.

Balance Sheets
(Amounts in Thousands)

December 31
2021 2020 2021 2020
ASSETS
Cash and Other Cash Items P16,024,863 P15,984,210 P13,649,247 P13,724,265
Due from Bangko Sentral ng Pilipinas (Notes 7 and 17) 124,283,115 152,156,449 114,528,773 141,811,190
Due from Other Banks (Note 7) 10,694,312 18,228,721 9,897,264 17,197,750
Interbank Loans Receivable and Securities Purchased under Resale
Agreements (Note 8) 36,559,224 18,290,851 35,030,997 15,604,167
Financial Assets at Fair Value through Profit or Loss (Note 9) 7,209,667 13,406,863 5,457,804 11,641,778
Derivative Contracts Designated as Hedges (Note 26) 1,139,233 – 1,139,233 –
Financial Assets at Fair Value through Other Comprehensive Income
(Note 9) 28,672,240 20,244,403 26,523,712 18,345,520
Investment Securities at Amortized Cost (Note 9) 242,353,729 202,240,631 236,347,682 196,794,826
Loans and Receivables (Notes 10 and 30) 609,006,732 557,214,484 544,171,738 491,994,476
Accrued Interest Receivable (Note 16) 7,616,692 8,529,872 6,428,565 6,833,616
Investment in Subsidiaries (Note 11) – – 17,191,345 15,754,791
Investment in Associates (Note 11) 796,519 912,647 796,519 912,647
Bank Premises, Furniture, Fixtures and
Equipment and Right-of-use Assets (Note 12) 8,232,859 8,422,717 6,600,139 6,876,959
Investment Properties (Note 13) 3,993,338 3,984,939 1,379,370 1,478,933
Deferred Tax Assets (Note 28) 4,624,981 5,172,435 3,409,600 3,732,048
Intangible Assets (Note 14 and 16) 3,807,889 3,881,669 768,440 833,936
Goodwill (Note 14) 839,748 839,748 222,841 222,841
Other Assets (Note 15) 6,464,385 6,501,010 3,641,671 3,367,991
P1,112,319,526 P1,036,011,649 P1,027,184,940 P947,127,734
LIABILITIES AND EQUITY

Liabilities
Deposit Liabilities (Notes 17 and 30)
Demand P252,324,966 P212,466,949 P229,349,909 P194,231,249
Savings 302,884,786 256,406,867 282,597,580 238,601,774
Time 307,650,145 366,357,014 270,271,411 318,139,885
862,859,897 835,230,830 782,218,900 750,972,908
Bonds Payable (Note 18) 42,473,558 52,065,678 42,473,558 52,065,678
Bills Payable (Note 19) 65,806,274 23,655,851 65,806,274 23,655,851
Manager’s Checks 1,854,606 1,568,232 1,466,359 1,066,098
Income Tax Payable 785,091 846,090 754,026 825,270
Accrued Interest and Other Expenses (Note 20) 4,745,861 3,905,945 4,325,426 3,579,619
Derivative Liabilities (Note 26) 998,721 1,216,771 998,721 1,216,771
Derivative Contracts Designated as Hedges (Note 26) 162,399 521,209 162,399 521,209
Deferred Tax Liabilities (Note 28) 798,212 1,116,362 – –
Other Liabilities (Note 21) 12,712,087 10,899,319 9,898,313 8,262,468
993,196,706 931,026,287 908,103,976 842,165,872
Equity
Equity Attributable to Equity Holders of the Parent Company
Capital stock (Note 24) 26,912,882 26,858,998 26,912,882 26,858,998
Capital paid in excess of par value (Note 24) 17,200,758 17,122,626 17,200,758 17,122,626
Other equity – stock grants (Note 24) – 140,924 – 140,924
Surplus reserves (Notes 24 and 29) 3,730,687 2,874,004 3,730,687 2,874,004
Surplus (Notes 24 and 29) 70,205,517 58,659,768 70,205,517 58,659,768
Net unrealized gain on financial assets at fair value through other
comprehensive income (Note 9) 81,200 294,115 81,200 294,115
Remeasurement loss on defined benefit asset (Note 25) (30,489) (426,996) (30,489) (426,996)
Cumulative translation adjustment 17,604 5,535 17,604 5,535
Remeasurement loss on life insurance reserves (14,029) (45,903) (14,029) (45,903)
Cash flow hedge reserve (Note 26) 976,834 (521,209) 976,834 (521,209)
119,080,964 104,961,862 119,080,964 104,961,862
Non-controlling Interest (Note 11) 41,856 23,500 – –
119,122,820 104,985,362 119,080,964 104,961,862
P1,112,319,526 P1,036,011,649 P1,027,184,940 P947,127,734
See accompanying Notes to Financial Statements.

Statements of Income
(Amounts in Thousands, Except Earnings Per Share)

Years Ended December 31
2021 2020 2019 2021 2020 2019
INTEREST INCOME
Loans and receivables (Notes 10 and 30) P33,929,525 P35,135,866 P36,051,051 P28,948,921 P30,372,019 P30,824,138
Investment securities at amortized cost
and at fair value through other comprehensive
income (Note 9) 9,193,747 10,023,174 9,828,076 8,934,652 9,734,684 9,362,427
Due from Bangko Sentral ng Pilipinas and other
banks and securities purchased under resale
agreements (Notes 7 and 8) 1,863,599 1,270,850 1,113,206 1,525,166 889,552 702,422
Financial assets at fair value through
profit or loss 738,643 707,741 692,482 738,643 707,741 692,482
45,725,514 47,137,631 47,684,815 40,147,382 41,703,996 41,581,469
INTEREST EXPENSE
Deposit liabilities (Notes 17 and 30) 5,111,577 9,637,175 18,567,168 4,272,332 8,193,587 15,915,107
Bonds payable, bills payable and other borrowings
(Notes 18 and 19) 2,104,471 3,425,286 2,802,104 2,104,470 3,425,286 2,800,843
Lease payable (Note 27) 195,310 232,584 264,246 152,194 182,821 207,744
7,411,358 13,295,045 21,633,518 6,528,996 11,801,694 18,923,694
NET INTEREST INCOME 38,314,156 33,842,586 26,051,297 33,618,386 29,902,302 22,657,775
Trading and securities gain (loss) - net
(Notes 9 and 22) (64,005) 3,233,872 884,482 (110,743) 3,193,171 837,875
Service charges, fees and commissions
(Note 22) 3,486,184 2,698,726 3,296,673 1,438,614 1,217,030 1,624,703
Gain on disposal of investment securities at
amortized cost (Note 9) 4,063,927 2,187,006 1,381,871 4,063,927 2,187,006 1,299,360
Trust fee income (Note 29) 450,965 409,916 357,080 450,965 409,916 357,080
Foreign exchange gain - net (Note 26) 686,861 212,419 221,104 678,431 213,464 243,764
Gain on sale of investment properties 388,295 187,176 864,383 238,891 65,913 721,893
Share in net income (loss) of an associate
(Note 11) (1,609) 152,441 184,661 (1,609) 152,441 184,661
Gain (loss) on asset foreclosure and dacion
transactions (Note 13) 87,485 (22,757) 47,479 31,552 42,885 81,294
Share in net income of subsidiaries (Note 11) – – – 1,422,503 790,482 770,628
Miscellaneous (Notes 22 and 30) 1,262,841 952,250 1,193,056 1,118,731 847,735 1,062,795
TOTAL OPERATING INCOME 48,675,100 43,853,635 34,482,086 42,949,648 39,022,345 29,841,828
Provision for impairment and credit losses
(Note 16) 8,876,744 8,868,919 2,570,168 7,679,877 7,983,206 2,205,062
Compensation and fringe benefits
(Notes 25 and 30) 7,505,384 7,527,441 6,622,664 5,899,761 5,893,272 5,029,191
Taxes and licenses 3,529,491 4,041,457 3,884,183 2,901,338 3,498,440 3,155,849
Insurance 2,061,059 1,999,111 1,875,977 1,805,915 1,727,893 1,624,065
Depreciation and amortization
(Notes 12, 13 and 14) 1,787,166 1,894,899 1,942,660 1,364,324 1,460,780 1,463,092
Occupancy cost (Notes 27 and 30) 2,090,909 1,758,872 1,801,154 1,657,902 1,339,284 1,308,482
Professional fees, marketing and other related
services 632,857 538,928 412,146 559,649 475,554 329,959
Transportation and traveling 594,063 454,355 566,572 479,985 345,964 432,157
Entertainment, amusement and recreation 490,278 420,641 477,761 381,601 317,774 342,034
Stationery, supplies and postage 218,238 252,365 258,425 149,719 196,668 194,990
Repairs and maintenance 173,825 134,158 159,816 140,177 93,279 120,245
Miscellaneous (Notes 22 and 30) 3,251,863 2,499,935 2,322,938 2,773,517 2,140,996 1,890,022
TOTAL OPERATING EXPENSES 31,211,877 30,391,081 22,894,464 25,793,765 25,473,110 18,095,148
INCOME BEFORE INCOME TAX 17,463,223 13,462,554 11,587,622 17,155,883 13,549,235 11,746,680
PROVISION FOR INCOME TAX (Note 28) 2,357,000 1,391,104 1,512,650 2,067,551 1,486,598 1,677,720
NET INCOME P15,106,223 P12,071,450 P10,074,972 P15,088,332 P12,062,637 P10,068,960
Attributable to:
Equity holders of the Parent Company
(Note 33) P15,088,332 P12,062,637 P10,068,960
Non-controlling interest 17,891 8,813 6,012
P15,106,223 P12,071,450 P10,074,972
Basic/Diluted Earnings Per Share (Note 33) P5.61 P4.49 P3.75

Statements of Comprehensive Income


2021 2020 2019 2021 2020 2019
NET INCOME P15,106,223 P12,071,450 P10,074,972 P15,088,332 P12,062,637 P10,068,960
OTHER COMPREHENSIVE INCOME (LOSS)

Items that recycle to profit or loss in
subsequent periods:
Changes in fair value of debt financial
assets at fair value through other
comprehensive income (FVOCI):
Fair value gain (loss) for the year, net
of tax (60,479) 2,929,713 1,002,634 (27,185) 2,864,317 926,208
Gain taken to profit or loss (Note 22) (60,316) (3,173,881) (269,478) (40,937) (3,145,147) (240,310)
Share in changes in fair value of financial
assets at FVOCI of an associate
(Note 11) (103,148) 119,180 152,452 (103,148) 119,180 152,452
Share in changes in other comprehensive
income (loss) of subsidiaries (Note 11)
Net unrealized gain (loss) on financial
assets at FVOCI – – – (52,610) 31,703 190,495
Cumulative translation adjustment – – – 11,603 (12,166) 17,015
Cumulative translation adjustment 12,270 (5,165) 98,830 466 7,211 81,520
Gain (loss) on cash flow hedges 1,498,043 (469,260) (51,949) 1,498,043 (469,260) (51,949)
Items that do not recycle to profit or loss in
subsequent periods:
Changes in fair value of equity financial
assets at FVOCI:
Fair value gain for the year, net of tax 10,392 3,037 160,375 10,965 6,488 14,643
Share in changes in remeasurement gain
(loss) on defined benefit plans of
subsidiaries (Note 11) – – – 56,256 53,626 (56,353)
Share in changes in other comprehensive
income of an associate (Note 11)
Remeasurement loss on
life insurance reserves 31,874 (66,558) 1,501 31,874 (66,558) 1,501
Remeasurement gain (loss) on
defined benefit plan (3,245) 3,415 2,985 (3,245) 3,415 2,985
Remeasurement loss on defined benefit
asset, net of tax (Note 25) 400,652 (57,188) (489,722) 343,496 (111,852) (432,210)
OTHER COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR, NET OF TAX 1,726,043 (716,707) 607,628 1,725,578 (719,043) 605,997
TOTAL COMPREHENSIVE INCOME

FOR THE YEAR P16,832,266 P11,354,743 P10,682,600 P16,813,910 P11,343,593 P10,674,957
Total comprehensive income attributable to:

Equity holders of the Parent Company P16,813,910 P11,343,593 P10,674,957
Non-controlling interest 18,356 11,150 7,643
P16,832,266 P11,354,743 P10,682,600

Statements of Changes in Equity
Capital Paid Surplus

in Excess of Other Equity Reserves Surplus
Capital Stock Par Value - Stock Grants (Notes 24 (Notes 24
(Note 24) (Note 24) (Note 24) and 29) and 29)
Balance at January 1, 2021 P26,858,998 P17,122,626 P140,924 P2,874,004 P58,659,768
Total comprehensive income (loss) for the year – – – – 15,088,332
Stock grants 53,884 78,132 (140,924) –
Transfer from surplus to surplus reserves – – – 45,096 (45,096)
Appropriation of retained earnings (Note 16) – – – 811,587 (811,587)
Cash dividends - P1.00 per share – – – (2,685,900)
Balance at December 31, 2021 P26,912,882 P17,200,758 P– P3,730,687 P70,205,517
Balance at January 1, 2020 P26,858,998 P17,122,626 P– P3,598,275 P48,558,760
Stock grants – – 140,924 – –
Appropriation of retained earnings (Note 16) – – – (765,263) 765,263
Cash dividends - P1.00 per share – – – – (2,685,900)
Balance at December 31, 2020 P26,858,998 P17,122,626 P140,924 P2,874,004 P58,659,768
Balance at January 1, 2019 P26,858,998 P17,122,626 P– P4,031,009 P40,497,255
Appropriation of retained earnings (Note 16) – – – (468,442) 468,442
Realized loss on sale of equity securities at FVOCI – – – – (76,597)
Cash dividends - P0.88 per share – – – – (2,363,592)
Balance at December 31, 2019 P26,858,998 P17,122,626 P– P3,598,275 P48,558,760

Consolidated
Equity Attributable to Equity Holders of the Parent Company
Net Unrealized
Gains (Losses)
on Financial
Assets at Fair Remeasurement
Value through Gain (Loss) on
Other Defined Remeasurement
Comprehensive Benefit Asset Cumulative Gain (Loss) on Cash Flow Non- Controlling
Income or Liability Translation Life Insurance Hedge Interest
(Note 9) (Note 25) Adjustment Reserves Reserve Total Equity (Note 11) Total Equity
P294,115 (P426,996) P5,535 (P45,903) (P521,209) P104,961,862 P23,500 P104,985,362
(212,915) 396,507 12,069 31,874 1,498,043 16,813,910 18,356 16,832,266
– – – – – (8,908) – (8,908)
– – – – – – – –
– – – – – – – –
– – – – – (2,685,900) – (2,685,900)
P81,200 (P30,489) P17,604 (P14,029) P976,834 P119,080,964 41,856 P119,122,820
417,576 (368,531) 6,835 20,655 (51,949) 96,163,245 12,350 96,175,595
(123,461) (58,465) (1,300) (66,558) (469,260) 11,343,593 11,150 11,354,743
– – – – – 140,924 – 140,924
– – – – – – – –
– – – – – – – –
– – – – – (2,685,900) – (2,685,900)
P294,115 (P426,996) P5,535 (P45,903) (P521,209) P104,961,862 P23,500 P104,985,362
(P702,509) P117,047 (P91,700) P19,154 P– P87,851,880 P4,707 P87,856,587
1,043,488 (485,578) 98,535 1,501 (51,949) 10,674,957 7,643 10,682,600
– – – – – – – –
– – – – – – – –
76,597 – – – – – – –
– – – – – (2,363,592) – (2,363,592)
P417,576 (P368,531) P6,835 P20,655 (P51,949) P96,163,245 P12,350 P96,175,595

Statements
of Changes in Equity
Capital Paid
in Excess of Other Equity Surplus
Capital Stock Par Value - Stock Grants Reserves
(Note 24) (Note 24) (Note 24) (Notes 24 and 29)
Balance at January 1, 2021 P26,858,998 P17,122,626 P140,924 P2,874,004
Total comprehensive income (loss) for the year – – – –
Stock grants 53,884 78,132 (140,924) –
Transfer from surplus to surplus reserves – – – 45,096
Appropriation of retained earnings (Note 16) – – – 811,587
Cash dividends - P1.00 per share – – – –
Balance at December 31, 2021 P26,912,882 P17,200,758 P– P3,730,687
Balance at January 1, 2020 P26,858,998 P17,122,626 P– P3,598,275
Stock grants – – 140,924 –
Appropriation of retained earnings (Note 16) – – – (765,263)
Balance at December 31, 2020 P26,858,998 P17,122,626 P140,924 P2,874,004
Balance at January 1, 2019 P26,858,998 P17,122,626 P– P4,031,009
Appropriation of retained earnings (Note 16) – – – (468,442)
Realized loss on sale of equity securities at FVOCI – – – –
Balance at December 31, 2019 P26,858,998 P17,122,626 P– P3,598,275

Parent Company
Net Unrealized
Gains (Losses)
on Financial
Assets at Fair Remeasurement
Value through Gain (Loss) on
Other Defined Remeasurement
Comprehensive Benefit Asset Cumulative Gain (Loss) on
Surplus Income or Liability Translation Life Insurance Cash Flow Hedge
(Notes 24 and 29) (Note 9) (Note 25) Adjustment Reserves Reserve Total Equity
P58,659,768 P294,115 (P426,996) P5,535 (P45,903) (P521,209) P104,961,862
15,088,332 (212,915) 396,507 12,069 31,874 1,498,043 16,813,910
– – – – – – (8,908)
(45,096) – – – – – –
(811,587) – – – – – –
(2,685,900) – – – – – (2,685,900)
P70,205,517 P81,200 (P30,489) P17,604 (P14,029) P976,834 P119,080,964
P48,558,760 417,576 (368,531) 6,835 20,655 (51,949) 96,163,245
12,062,637 (123,461) (58,465) (1,300) (66,558) (469,260) 11,343,593
– – – – – – 140,924
(40,992) – – – – – –
765,263 – – – – – –
(2,685,900) – – – – – (2,685,900)
P58,659,768 P294,115 (P426,996) P5,535 (P45,903) (P521,209) P104,961,862
P40,497,255 (P702,509) P117,047 (P91,700) P19,154 P– P87,851,880
10,068,960 1,043,488 (485,578) 98,535 1,501 (51,949) 10,674,957
(35,708) – – – – – –
468,442 – – – – – –
(76,597) 76,597 – – – – –
(2,363,592) – – – – – (2,363,592)
P48,558,760 P417,576 (P368,531) P6,835 P20,655 (P51,949) P96,163,245

Statements
of Cash Flows

2021 2020 2019 2021 2020 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Income before income tax P17,463,223 P13,462,554 P11,587,622 P17,155,883 P13,549,235 P11,746,680
Adjustments for:
Depreciation and amortization (Notes 12, 13 and 14) 1,787,166 1,894,899 1,942,660 1,364,324 1,460,780 1,463,092
Provision for impairment and credit losses (Note 16) 8,876,744 8,868,919 2,570,168 7,679,877 7,983,206 2,205,062
Amortization of transaction costs on bonds payable (Note 18) 83,022 133,117 200,852 83,022 133,117 200,852
Securities gain on financial assets at fair value through other
comprehensive income and investment securities at
amortized cost (Note 22) (4,124,243) (5,360,887) (1,651,349) (4,104,864) (5,332,153) (1,539,670)
Gain on sale of investment properties (388,295) (187,176) (864,383) (238,891) (65,913) (721,893)
Gain on asset foreclosure and dacion transactions (Note 13) (87,485) 22,757 (47,479) (31,552) (42,885) (81,294)
Share in net loss (income) of an associate (Notes 2 and 11) 1,609 (152,441) (184,661) 1,609 (152,441) (184,661)
Share in net income of subsidiaries (Notes 2 and 11) – – – (1,422,503) (790,482) (770,628)
Changes in operating assets and liabilities:
Decrease (increase) in the amounts of:
Financial assets at fair value through profit or loss 5,620,336 5,743,227 (10,322,948) 6,183,974 6,802,323 (14,085,388)
Loans and receivables (60,053,495) 3,896,534 (64,140,453) (59,354,783) 3,806,847 (64,112,157)
Other assets 2,730,389 (2,507,056) (3,844,834) 2,094,083 (3,090,935) (2,708,132)
Increase (decrease) in the amounts of:
Deposit liabilities 27,629,067 59,802,970 53,304,563 31,245,992 63,208,455 49,521,091
Manager’s checks 286,374 (430,446) (578,497) 400,261 (469,838) (533,876)
Accrued interest and other expenses 839,772 (215,357) 278,777 745,807 (70,720) 308,187
Other liabilities 767,884 (822,854) 169,403 443,185 1,607,172 3,054,754
Net cash generated from (used in) operations 1,432,068 84,148,760 (11,580,559) 2,245,424 88,535,768 (16,237,981)
Income taxes paid (1,764,692) (2,879,380) (2,143,644) (1,422,931) (2,537,406) (1,840,519)
Net cash provided by (used in) operating activities (332,624) 81,269,380 (13,724,203) 822,493 85,998,362 (18,078,500)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisitions of/Additions to:
Bank premises, furniture, fixtures and equipment (Note 12) (632,109) (541,277) (873,688) (428,494) (408,228) (709,808)
Equity investments (Note 11) – – (40,000) – – (40,363)
Investment securities at amortized cost (259,499,749) (69,431,704) (24,382,774) (258,538,503) (67,524,359) (23,616,210)
Financial assets at fair value through other comprehensive
income (60,990,126) (61,994,676) (27,081,539) (59,739,708) (60,758,310) (27,081,539)
Proceeds from sale of:
Investment securities at amortized cost 59,838,517 32,330,154 18,616,553 59,838,517 32,330,154 13,324,227
Financial assets at fair value through other comprehensive
income 52,512,838 70,814,873 10,972,736 51,545,295 69,454,223 12,141,368
Investment properties 907,423 676,179 2,074,400 327,875 105,364 802,118
Bank premises, furniture, fixtures and equipment 489,036 730,795 62,943 345,866 139,943 26,990
Proceeds from maturity of:
Investment securities at amortized cost 162,908,132 3,948,763 11,482,400 162,708,584 3,948,763 11,184,226
Cash dividends received from subsidiary and associate (Note 11) 40,000 – – 40,000 200,000 50,000
Net cash used in investing activities (44,426,038) (23,466,893) (9,168,969) (43,900,568) (22,512,450) (13,918,991)
(Forward)


2021 2020 2019 2021 2020 2019
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from bills payable P193,908,669 P116,188,100 P180,468,980 P193,908,669 P116,188,100 P180,468,980
Settlement of bills payable (152,843,847) (124,743,600) (186,914,106) (152,843,847) (124,743,600) (186,914,106)
Proceeds from issuance of bonds payable (Note 18) 19,878,458 14,803,803 37,193,546 19,878,458 14,803,803 37,193,546
Payments of cash dividends (Note 24) (2,685,900) (2,685,900) (2,363,592) (2,685,900) (2,685,900) (2,363,592)
Settlement of bonds payable (Note 18) (30,000,000) – – (30,000,000) – –
Payments of principal portion of lease liabilities (Note 27) (597,435) (655,914) (523,135) (410,396) (350,593) (381,869)
Net cash provided by financing activities 27,659,945 2,906,489 27,861,693 27,846,984 3,211,810 28,002,959
NET INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS (17,098,717) 60,708,976 4,968,521 (15,231,091) 66,697,722 (3,994,532)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
Cash and other cash items 15,984,210 16,839,755 15,639,474 13,724,265 14,856,844 13,705,304
Due from Bangko Sentral ng Pilipinas (Note 7) 152,156,449 100,174,398 101,889,773 141,811,190 88,109,650 95,092,944
Due from other banks (Note 7) 18,228,721 9,900,642 9,455,447 17,197,750 8,645,547 7,837,894
Interbank Loans Receivable and SPURA (Note 8) 18,290,851 17,036,460 11,998,040 15,604,167 10,027,609 8,998,040
204,660,231 143,951,255 138,982,734 188,337,372 121,639,650 125,634,182
CASH AND CASH EQUIVALENTS AT END OF YEAR
Cash and other cash items 16,024,863 15,984,210 16,839,755 13,649,247 13,724,265 14,856,844
Due from Bangko Sentral ng Pilipinas (Note 7) 124,283,115 152,156,449 100,174,398 114,528,773 141,811,190 88,109,650
Due from other banks (Note 7) 10,694,312 18,228,721 9,900,642 9,897,264 17,197,750 8,645,547
Securities purchased under resale agreements (Note 8) 36,559,224 18,290,851 17,036,460 35,030,997 15,604,167 10,027,609
P187,561,514 P204,660,231 P143,951,255 P173,106,281 P188,337,372 P121,639,650
OPERATING CASH FLOWS FROM INTEREST

For Years Ended December 31
2021 2020 2019 2021 2020 2019
Interest paid P7,384,207 P14,297,974 P20,557,295 P6,480,050 P12,679,471 P17,928,838
Interest received P46,638,694 P45,766,253 P46,223,502 P40,552,433 P41,396,855 P40,181,121

Notes to Financial Statements
1. CORPORATE INFORMATION
China Banking Corporation (the Parent Company) is a publicly listed universal bank incorporated in the Philippines. The Parent Company
acquired its universal banking license in 1991. It provides expanded commercial banking products and services such as deposit products,
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Changes in Accounting Policies and Disclosures
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Date of recognition
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Financial assets at Amortized Cost

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and
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Financial Assets at FVTPL

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purposes.
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ZLJ\YP[PLZNHPUSVZZUL[»HJJV\U[PU[OLZ[H[LTLU[VMPUJVTL

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been established.
Derivative instruments
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VM[OLJHZOÅV^Z[OH[V[OLY^PZL^V\SKILYLX\PYLKI`[OLJVU[YHJ[[VILTVKPÄLKHJJVYKPUN[VHZWLJPÄLKPU[LYLZ[YH[LÄUHUJPHSPUZ[Y\TLU[
WYPJL JVTTVKP[` WYPJL MVYLPNU L_JOHUNL YH[L PUKL_ VM WYPJLZ VY YH[LZ JYLKP[ YH[PUN VY JYLKP[ PUKL_ VY V[OLY ]HYPHISL WYV]PKLK [OH[ PU
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HYLTLHZ\YLKH[MHPY]HS\L^P[OJOHUNLZPUMHPY]HS\LYLJVNUPaLKPUWYVÄ[VYSVZZ9LHZZLZZTLU[VUS`VJJ\YZPM[OLYLPZLP[OLYHJOHUNLPU[OL
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Financial Assets at FVOCI - Equity Investments

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KLK\J[PVUMVYHU`KPZWVZHSJVZ[Z.HPUZHUKSVZZLZHYPZPUNMYVTJOHUNLZPUMHPY]HS\LHYLYLJVNUPaLKPUV[OLYJVTWYLOLUZP]LPUJVTLHUK
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Financial Assets at FVOCI - Debt Investments

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in the business model.
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settled within equity.
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equity.
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met, but excluding repairs and maintenance costs.
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progress is not depreciated until such time that the relevant assets are completed and put into operational use.
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lease terms
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and leasehold improvements.
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Investment Properties
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less impairment in value.
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charged against income in the period in which the costs are incurred.
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development with a view to sale.
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Software costs
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Branch licenses
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Exchange Trading Right

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PU]LZ[TLU[WYVWLY[PLZIHURWYLTPZLZM\YUP[\YLÄ_[\YLZHUKLX\PWTLU[NVVK^PSSHUKPU[HUNPISLHZZL[ZTHÌLPTWHPYLK>OLUHUPUKPJH[VY
VMPTWHPYTLU[L_PZ[ZVYÔLUHUHUU\HSPTWHPYTLU[[LZ[PUNMVYHUHZZL[PZYLX\PYLK[OL.YV\WTHRLZHMVYTHSLZ[PTH[LVMYLJV]LYHISLHTV\U[
9LJV]LYHISLHTV\U[PZ[OLOPNOLYVMHUHZZL[»ZVY*.<»ZMHPY]HS\LSLZZJVZ[Z[VZLSSHUKP[Z]HS\LPU\ZLHUKPZKL[LYTPULKMVYHUPUKP]PK\HS
HZZL[\USLZZ[OLHZZL[KVLZUV[NLULYH[LJHZOPUÅV^Z[OH[HYLSHYNLS`PUKLWLUKLU[VM[OVZLMYVTV[OLYHZZL[ZVYNYV\WZVMHZZL[ZPUÔPJO
JHZL[OLYLJV]LYHISLHTV\U[PZHZZLZZLKHZWHY[VM[OL*.<[VÔPJOP[ILSVUNZ>OLYL[OLJHYY`PUNHTV\U[VMHUHZZL[VY*.<L_JLLKZ
P[ZYLJV]LYHISLHTV\U[[OLHZZL[VY*.<PZJVUZPKLYLKPTWHPYLKHUKPZ^YP[[LUKVÛ[VP[ZYLJV]LYHISLHTV\U[0UHZZLZZPUN]HS\LPU\ZL
[OLLZ[PTH[LKM\[\YLJHZOÅV^ZHYLKPZJV\U[LK[V[OLPYWYLZLU[]HS\L\ZPUNHWYL[H_KPZJV\U[YH[L[OH[YLÅLJ[ZJ\YYLU[THYRL[HZZLZZTLU[Z
VM[OL[PTL]HS\LVMTVUL`HUK[OLYPZRZZWLJPÄJ[V[OLHZZL[VY*.<
(UPTWHPYTLU[SVZZPZJOHYNLK[VVWLYH[PVUZPU[OL`LHYPUÔPJOP[HYPZLZ
-VYUVUÄUHUJPHSHZZL[ZL_JS\KPUNNVVK^PSSHUKIYHUJOSPJLUZLZHUHZZLZZTLU[PZTHKLH[LHJOYLWVY[PUNKH[LHZ[VÔL[OLY[OLYLPZHU`
PUKPJH[PVU[OH[WYL]PV\ZS`YLJVNUPaLKPTWHPYTLU[SVZZLZTHÙVSVUNLYL_PZ[VYTHÒH]LKLJYLHZLK0MZ\JOPUKPJH[PVUL_PZ[Z[OLYLJV]LYHISL
HTV\U[ PZ LZ[PTH[LK ( WYL]PV\ZS` YLJVNUPaLK PTWHPYTLU[ SVZZ PZ YL]LYZLK L_JLW[ MVY NVVK^PSS VUS` PM [OLYL OHZ ILLU H JOHUNL PU [OL
LZ[PTH[LZ\ZLK[VKL[LYTPUL[OLHZZL[»ZYLJV]LYHISLHTV\U[ZPUJL[OLSHZ[PTWHPYTLU[SVZZ^HZYLJVNUPaLK0M[OH[PZ[OLJHZL[OLJHYY`PUN
HTV\U[VM[OLHZZL[PZPUJYLHZLK[VP[ZYLJV]LYHISLHTV\U[;OH[PUJYLHZLKHTV\U[JHUUV[L_JLLK[OLJHYY`PUNHTV\U[[OH[^V\SKOH]L
ILLUKL[LYTPULKUL[VMKLWYLJPH[PVUOHKUVPTWHPYTLU[SVZZILLUYLJVNUPaLKMVY[OLHZZL[PUWYPVY`LHYZ:\JOYL]LYZHSPZYLJVNUPaLKPU
[OLZ[H[LTLU[VMPUJVTL(M[LYZ\JOHYL]LYZHS[OLKLWYLJPH[PVUL_WLUZLPZHKQ\Z[LKPUM\[\YL`LHYZ[VHSSVJH[L[OLHZZL[»ZYL]PZLKJHYY`PUN
HTV\U[SLZZHU`YLZPK\HS]HS\LVUHZ`Z[LTH[PJIHZPZV]LYP[ZYLTHPUPUNSPML
(JJV\U[PUN7VSPJ`VU3LHZLZ
;OL.YV\WHZZLZZLZH[JVU[YHJ[PUJLW[PVUÔL[OLYHJVU[YHJ[PZVYJVU[HPUZHSLHZL;OH[PZPM[OLJVU[YHJ[JVU]L`Z[OLYPNO[[VJVU[YVS[OL
\ZLVMHUPKLU[PÄLKHZZL[MVYHWLYPVKVM[PTLPUL_JOHUNLMVYJVUZPKLYH[PVU

Group as a lessee
;OL.YV\WHWWSPLZHZPUNSLYLJVNUP[PVUHUKTLHZ\YLTLU[HWWYVHJOMVYHSSSLHZLZL_JLW[MVYZOVY[[LYTSLHZLZHUKSLHZLZVMSV^]HS\LHZZL[Z
;OL.YV\WYLJVNUPaLZSLHZLSPHIPSP[PLZ[VTHRLSLHZLWH`TLU[ZHUKYPNO[VM\ZLHZZL[ZYLWYLZLU[PUN[OLYPNO[[V\ZL[OL\UKLYS`PUNHZZL[Z
i) Right-of-use assets
;OL.YV\WYLJVNUPaLZYPNO[VM\ZLHZZL[ZH[[OLJVTTLUJLTLU[KH[LVM[OLSLHZLPL[OLKH[L[OL\UKLYS`PUNHZZL[PZH]HPSHISLMVY\ZL
9PNO[VM\ZLHZZL[ZHYLTLHZ\YLKH[JVZ[SLZZHU`HJJ\T\SH[LKKLWYLJPH[PVUHUKPTWHPYTLU[SVZZLZHUKHKQ\Z[LKMVYHU`YLTLHZ\YLTLU[
VMSLHZLSPHIPSP[PLZ;OLJVZ[VMYPNO[VM\ZLHZZL[ZPUJS\KLZ[OLHTV\U[VMSLHZLSPHIPSP[PLZYLJVNUPaLKHKQ\Z[LKI`SLHZLWH`TLU[ZTHKLH[VY
ILMVYL[OLJVTTLUJLTLU[KH[LHUKSLHZLPUJLU[P]LZYLJLP]LK9PNO[VM\ZLHZZL[ZHYLKLWYLJPH[LKVUHZ[YHPNO[SPULIHZPZV]LY[OLZOVY[LY
VM[OLSLHZL[LYTHUK[OLLZ[PTH[LK\ZLM\SSP]LZVM[OLKLWYLJPHISLHZZL[Z;OLKLWYLJPH[PVUL_WLUZLPZWYLZLU[LK\UKLYº+LWYLJPH[PVUHUK
(TVY[PaH[PVU»PU[OLZ[H[LTLU[VMPUJVTL
0MVÛLYZOPWVM[OLSLHZLKHZZL[[YHUZMLYZ[V[OL.YV\WH[[OLLUKVM[OLSLHZL[LYTVY[OLJVZ[YLÅLJ[Z[OLL_LYJPZLVMHW\YJOHZLVW[PVU
KLWYLJPH[PVUPZJHSJ\SH[LK\ZPUN[OLLZ[PTH[LK\ZLM\SSPMLVM[OLHZZL[
;OLYPNO[VM\ZLHZZL[ZHYLHSZVZ\IQLJ[[VPTWHPYTLU[9LMLY[V[OLHJJV\U[PUNWVSPJPLZVU0TWHPYTLU[VM5VUÄUHUJPHS(ZZL[Z
ii) Lease liabilities

([[OLJVTTLUJLTLU[KH[LVM[OLSLHZL[OL.YV\WYLJVNUPaLZSLHZLSPHIPSP[PLZTLHZ\YLKH[[OLWYLZLU[]HS\LVMSLHZLWH`TLU[Z[VILTHKL
V]LY[OLSLHZL[LYT;OLSLHZLWH`TLU[ZPUJS\KLÄ_LKWH`TLU[ZPUJS\KPUNPUZ\IZ[HUJLÄ_LKWH`TLU[ZSLZZHU`SLHZLPUJLU[P]LZYLJLP]HISL
variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease
WH`TLU[ZHSZVPUJS\KL[OLL_LYJPZLWYPJLVMHW\YJOHZLVW[PVUYLHZVUHIS`JLY[HPU[VILL_LYJPZLKI`[OL.YV\WHUKWH`TLU[ZVMWLUHS[PLZMVY
[LYTPUH[PUN[OLSLHZLPM[OLSLHZL[LYTYLÅLJ[Z[OL.YV\WL_LYJPZPUN[OLVW[PVU[V[LYTPUH[L=HYPHISLSLHZLWH`TLU[Z[OH[KVUV[KLWLUKVU
HUPUKL_VYHYH[LHYLYLJVNUPaLKHZL_WLUZLZPU[OLWLYPVKPUÔPJO[OLL]LU[VYJVUKP[PVU[OH[[YPNNLYZ[OLWH`TLU[VJJ\YZ0UJHSJ\SH[PUN
[OLWYLZLU[]HS\LVMSLHZLWH`TLU[Z[OL.YV\W\ZLZP[ZPUJYLTLU[HSIVYYV^PUNYH[LH[[OLSLHZLJVTTLUJLTLU[KH[LILJH\ZL[OLPU[LYLZ[
YH[LPTWSPJP[PU[OLSLHZLPZUV[YLHKPS`KL[LYTPUHISL(M[LY[OLJVTTLUJLTLU[KH[L[OLHTV\U[VMSLHZLSPHIPSP[PLZPZPUJYLHZLK[VYLÅLJ[[OL
HJJYL[PVUVMPU[LYLZ[HUKYLK\JLKMVY[OLSLHZLWH`TLU[ZTHKL0UHKKP[PVU[OLJHYY`PUNHTV\U[VMSLHZLSPHIPSP[PLZPZYLTLHZ\YLKPM[OLYLPZ
HTVKPÄJH[PVUHJOHUNLPU[OLSLHZL[LYTHJOHUNLPU[OLSLHZLWH`TLU[ZLNJOHUNLZ[VM\[\YLWH`TLU[ZYLZ\S[PUNMYVTHJOHUNLPUHU
PUKL_VYYH[L\ZLK[VKL[LYTPULZ\JOSLHZLWH`TLU[ZVYHJOHUNLPU[OLHZZLZZTLU[VMHUVW[PVU[VW\YJOHZL[OL\UKLYS`PUNHZZL[
iii) Short-term leases and leases of low-value assets

;OL.YV\WHWWSPLZ[OLZOVY[[LYTSLHZLYLJVNUP[PVUL_LTW[PVU[VP[ZZOVY[[LYTSLHZLZVM(;4ZP[LZPL[OVZLSLHZLZ[OH[OH]LHSLHZL[LYT
VMTVU[OZVYSLZZMYVT[OLJVTTLUJLTLU[KH[LHUKKVUV[JVU[HPUHW\YJOHZLVW[PVU0[HSZVHWWSPLZ[OLSLHZLVMSV^]HS\LHZZL[Z
YLJVNUP[PVUL_LTW[PVU[VSLHZLZVM(;4ZP[LZ[OH[HYLJVUZPKLYLK[VILSV^]HS\L3LHZLWH`TLU[ZVUZOVY[[LYTSLHZLZHUKSLHZLZVMSV^
]HS\LHZZL[ZHYLYLJVNUPaLKHZL_WLUZLVUHZ[YHPNO[SPULIHZPZV]LY[OLSLHZL[LYT
Group as a lessor
3LHZLZPUÔPJO[OL.YV\WKVLZUV[[YHUZMLYZ\IZ[HU[PHSS`HSS[OLYPZRZHUKYL^HYKZPUJPKLU[HS[VVÛLYZOPWVMHUHZZL[HYLJSHZZPÄLKHZ
VWLYH[PUNSLHZLZ9LU[HSPUJVTLHYPZPUNMYVTSLHZLKWYVWLY[PLZPZHJJV\U[LKMVYVUHZ[YHPNO[SPULIHZPZV]LY[OLSLHZL[LYTZHUKPZPUJS\KLK
PUYL]LU\LPU[OLZ[H[LTLU[VMPUJVTLK\L[VP[ZVWLYH[PUNUH[\YL0UP[PHSKPYLJ[JVZ[ZPUJ\YYLKPUULNV[PH[PUNHUKHYYHUNPUNHUVWLYH[PUNSLHZL
HYLHKKLK[V[OLJHYY`PUNHTV\U[VM[OLSLHZLKHZZL[HUKYLJVNUPaLKV]LY[OLSLHZL[LYTVU[OLZHTLIHZPZHZYLU[HSPUJVTL*VU[PUNLU[
YLU[ZHYLYLJVNUPaLKHZYL]LU\LPU[OLWLYPVKPUÔPJO[OL`HYLLHYULK
*HWP[HS:[VJR
*HWP[HSZ[VJRZHYLYLJVYKLKH[WHY7YVJLLKZPUL_JLZZVMWHY]HS\LHYLYLJVNUPaLK\UKLYLX\P[`HZº*HWP[HSWHPKPUL_JLZZVMWHY]HS\L»PU[OL
IHSHUJLZOLL[0UJYLTLU[HSJVZ[ZPUJ\YYLKÔPJOHYLKPYLJ[S`H[[YPI\[HISL[V[OLPZZ\HUJLVMUL^ZOHYLZHYLZOVÛPULX\P[`HZHKLK\J[PVU
MYVTWYVJLLKZUL[VM[H_
9L]LU\L9LJVNUP[PVU
Revenues within the scope of PFRS 15, Revenue from Contracts with Customers
9L]LU\LMYVTJVU[YHJ[^P[OJ\Z[VTLYZPZYLJVNUPaLK\WVU[YHUZMLYVMWYVTPZLKNVVKZVYZLY]PJLZ[VJ\Z[VTLYZH[HUHTV\U[[OH[YLÅLJ[Z
[OLJVUZPKLYH[PVU[VÔPJOHULU[P[`L_WLJ[Z[VILLU[P[SLKPUL_JOHUNLMVY[YHUZMLYYPUNNVVKZVYZLY]PJLZ[VHJ\Z[VTLY;OL.YV\WHUK[OL
7HYLU[*VTWHU`L_LYJPZLQ\KNTLU[[HRPUNPU[VJVUZPKLYH[PVUHSSVM[OLYLSL]HU[MHJ[ZHUKJPYJ\TZ[HUJLZÔLUHWWS`PUNLHJOZ[LWVM[OL
Ä]LZ[LWTVKLS[VJVU[YHJ[Z^P[OJ\Z[VTLYZ
;OLMVSSV^PUNZWLJPÄJYLJVNUP[PVUJYP[LYPHT\Z[ILTL[ILMVYLYL]LU\LPZYLJVNUPaLKMVYJVU[YHJ[Z^P[OPU[OLZJVWLVM7-9:!
Fee and commission income

;OL.YV\WLHYUZMLLHUKJVTTPZZPVUPUJVTLMYVTHKP]LYZLYHUNLVMZLY]PJLZP[WYV]PKLZ[VP[ZJ\Z[VTLYZ-LLPUJVTLJHUILKP]PKLKPU[V
[OLMVSSV^PUN[^VJH[LNVYPLZ!
a. Fee income earned from services that are provided over a certain period of time
-LLZLHYULKMVY[OLWYV]PZPVUVMZLY]PJLZV]LYHWLYPVKVM[PTLHYLHJJY\LKV]LY[OH[WLYPVK;OLZLMLLZPUJS\KLPU]LZ[TLU[M\UKMLLZ
J\Z[VKPHUMLLZÄK\JPHY`MLLZJYLKP[YLSH[LKMLLZHZZL[THUHNLTLU[MLLZWVY[MVSPVHUKV[OLYTHUHNLTLU[MLLZHUKHK]PZVY`MLLZ
b. Fee income from providing transactions services

-LLZ HYPZPUN MYVT ULNV[PH[PUN VY WHY[PJPWH[PUN PU [OL ULNV[PH[PVU VM H [YHUZHJ[PVU MVY H [OPYK WHY[` Z\JO HZ JVTTPZZPVU PUJVTL
\UKLY^YP[PUNMLLZJVYWVYH[LÄUHUJLMLLZHUKIYVRLYHNLMLLZMVY[OLHYYHUNLTLU[VM[OLHJX\PZP[PVUVMZOHYLZVYV[OLYZLJ\YP[PLZVY[OL
W\YJOHZLVYZHSLVMI\ZPULZZLZHYLYLJVNUPaLKVUJVTWSL[PVUVM[OL\UKLYS`PUN[YHUZHJ[PVU-LLZVYJVTWVULU[ZVMMLLZ[OH[HYLSPURLK
[VHJLY[HPUWLYMVYTHUJLHYLYLJVNUPaLKHM[LYM\SÄSSPUN[OLJVYYLZWVUKPUNJYP[LYPH
3VHUZÙKPJH[PVUMLLZHYLYLJVNUPaLKPU[OLZ[H[LTLU[VMPUJVTLÔLU[OLZÙKPJH[PVUOHZILLUJVTWSL[LKHUK[OL.YV\WYL[HPUZUVWHY[
VM[OLSVHUZMVYP[ZLSMVYYL[HPUZWHY[H[[OLZHTL,09HZMVY[OLV[OLYWHY[PJPWHU[Z
Service charges and penalties

:LY]PJLJOHYNLZHUKWLUHS[PLZHYLYLJVNUPaLKVUS`\WVUJVSSLJ[PVUVYHJJY\LKÔLYL[OLYLPZHYLHZVUHISLKLNYLLVMJLY[HPU[`HZ[V[OLPY
collectability.
Other income
0UJVTLMYVTZHSLVMZLY]PJLPZYLJVNUPaLK\WVUYLUKP[PVUVM[OLZLY]PJL0UJVTLMYVTZHSLVMWYVWLY[PLZPZYLJVNUPaLKÔLUJVU[YVSOHZILLU
[YHUZMLYYLK[V[OLJV\U[LYWHY[`HUKÔLU[OLJVSSLJ[HIPSP[`VM[OLZHSLZWYPJLPZYLHZVUHIS`HZZ\YLK
Revenues outside the scope of PFRS 15
Interest income
-VYHSSPU[LYLZ[ILHYPUNÄUHUJPHSHZZL[ZPU[LYLZ[PUJVTLPZYLJVYKLKLP[OLYPH[,09ÔPJOPZ[OLYH[L[OH[L_HJ[S`KPZJV\U[ZLZ[PTH[LKM\[\YL
JHZOWH`TLU[ZVYYLJLPW[Z[OYV\NO[OLL_WLJ[LKSPMLVM[OLÄUHUJPHSPUZ[Y\TLU[VYHZOVY[LYWLYPVKÔLYLHWWYVWYPH[L[V[OLUL[JHYY`PUN
HTV\U[VM[OLÄUHUJPHSHZZL[VYÄUHUJPHSSPHIPSP[`VYPPH[YH[LZ[H[LKPU[OLJVU[YHJ[;OLJHSJ\SH[PVU[HRLZPU[VHJJV\U[HSSJVU[YHJ[\HS[LYTZ
VM [OL ÄUHUJPHS PUZ[Y\TLU[ MVY L_HTWSL WYLWH`TLU[ VW[PVUZ PUJS\KLZ HU` MLLZ VY PUJYLTLU[HS JVZ[Z [OH[ HYL KPYLJ[S` H[[YPI\[HISL [V [OL
PUZ[Y\TLU[HUKHYLHUPU[LNYHSWHY[VM[OL,09HZHWWSPJHISLI\[UV[M\[\YLJYLKP[SVZZLZ;OLHKQ\Z[LKJHYY`PUNHTV\U[PZJHSJ\SH[LKIHZLK
VU[OLVYPNPUHS,09;OLJOHUNLPUJHYY`PUNHTV\U[PZYLJVYKLKHZº0U[LYLZ[PUJVTL»3VHUJVTTP[TLU[MLLZMVYSVHUZ[OH[HYLSPRLS`[VIL
KYHÛKVÛHYLKLMLYYLK[VNL[OLY^P[OHU`PUJYLTLU[HSJVZ[ZHUKYLJVNUPaLKHZHUHKQ\Z[TLU[[V[OL,09VU[OLSVHU0M[OLJVTTP[TLU[
L_WPYLZ^P[OV\[[OL.YV\WTHRPUN[OLSVHU[OLJVTTP[TLU[MLLZHYLYLJVNUPaLKHZV[OLYPUJVTLVUL_WPY`
6UJL[OLYLJVYKLK]HS\LVMHÄUHUJPHSHZZL[VYNYV\WVMZPTPSHYÄUHUJPHSHZZL[ZOHZILLUYLK\JLKK\L[VHUPTWHPYTLU[SVZZPU[LYLZ[PUJVTL
JVU[PU\LZ[VILYLJVNUPaLK\ZPUN[OLVYPNPUHS,09HWWSPLK[V[OLUL^JHYY`PUNHTV\U[
Dividend income
+P]PKLUKPUJVTLPZYLJVNUPaLKÔLU[OL.YV\W»ZYPNO[[VYLJLP]LWH`TLU[PZLZ[HISPZOLK
Trading and securities gain (loss) - net

;OPZYLWYLZLU[ZYLZ\S[ZHYPZPUNMYVT[YHKPUNHJ[P]P[PLZHUKZHSLVM-=6*0KLI[ÄUHUJPHSHZZL[Z
Gain on disposal of investment securities at amortized cost

;OPZYLWYLZLU[ZYLZ\S[ZHYPZPUNMYVTZHSLVMPU]LZ[TLU[ZLJ\YP[PLZTLHZ\YLKH[HTVY[PaLKJVZ[
,_WLUZL9LJVNUP[PVU
,_WLUZLPZYLJVNUPaLKÔLUP[PZWYVIHISL[OH[HKLJYLHZLPUM\[\YLLJVUVTPJILULÄ[ZYLSH[LK[VHKLJYLHZLPUHUHZZL[VYHUPUJYLHZLPU
SPHIPSP[ÒHZVJJ\YYLKHUK[OLKLJYLHZLPULJVUVTPJILULÄ[ZJHUILTLHZ\YLKYLSPHIS`9L]LU\LZHUKL_WLUZLZ[OH[YLSH[L[V[OLZHTL
[YHUZHJ[PVUVYV[OLYL]LU[HYLYLJVNUPaLKZPT\S[HULV\ZS`
Interest expense
0U[LYLZ[L_WLUZLMVYHSSPU[LYLZ[ILHYPUNÄUHUJPHSSPHIPSP[PLZHYLYLJVNUPaLKPUº0U[LYLZ[L_WLUZL»PU[OLZ[H[LTLU[VMPUJVTL\ZPUN[OL,09VM[OL
ÄUHUJPHSSPHIPSP[PLZ[VÔPJO[OL`YLSH[L

Operating expenses
6WLYH[PUNL_WLUZLZJVUZ[P[\[LJVZ[ZÔPJOHYPZLPU[OLUVYTHSI\ZPULZZVWLYH[PVUHUKHYLYLJVNUPaLKÔLUPUJ\YYLK
Taxes and licenses

;OPZPUJS\KLZHSSV[OLY[H_LZSVJHSHUKUH[PVUHSPUJS\KPUNNYVZZYLJLPW[Z[H_LZ.9;KVJ\TLU[HY`Z[HTW[H_LZYLHSLZ[H[L[H_LZSPJLUZLZ
HUKWLYTP[MLLZHUKHYLYLJVNUPaLKÔLUPUJ\YYLK
9L[PYLTLU[)LULÄ[Z
+LÄULKILULÄ[WSHU
;OLUL[KLÄULKILULÄ[SPHIPSP[`VYHZZL[PZ[OLHNNYLNH[LVM[OLWYLZLU[]HS\LVM[OLKLÄULKILULÄ[VISPNH[PVUH[[OLLUKVM[OLYLWVY[PUN
WLYPVKYLK\JLKI`[OLMHPY]HS\LVMWSHUHZZL[ZHUKHKQ\Z[LKMVYHU`LќLJ[VMSPTP[PUNHUL[KLÄULKILULÄ[HZZL[[V[OLHZZL[JLPSPUN;OL
KLÄULKILULÄ[VISPNH[PVUPZJHSJ\SH[LKHUU\HSSÌ`HUPUKLWLUKLU[HJ[\HY`;OLWYLZLU[]HS\LVM[OLKLÄULKILULÄ[VISPNH[PVUPZKL[LYTPULK
I`KPZJV\U[PUN[OLLZ[PTH[LKM\[\YLJHZOV\[ÅV^Z\ZPUNPU[LYLZ[YH[LZVUNV]LYUTLU[IVUKZ[OH[OH]L[LYTZ[VTH[\YP[`HWWYV_PTH[PUN[OL
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[OLWSHUVYYLK\J[PVUZPUM\[\YLJVU[YPI\[PVUZ[V[OLWSHU
;OLJVZ[VMWYV]PKPUNILULÄ[Z\UKLY[OLKLÄULKILULÄ[WSHUZPZHJ[\HYPHSS`KL[LYTPULK\ZPUN[OLWYVQLJ[LK\UP[JYLKP[TL[OVK
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H ZLY]PJLJVZ["
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Employee leave entitlement

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Provisions and Contingencies

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Income Taxes
Current tax
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settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.
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the acquisition date.
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is permitted.
3. SIGNIFICANT ACCOUNTING JUDGMENTS AND ESTIMATES
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events that are believed to be reasonable under the circumstances.
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b. Contingencies
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sales activity in this evaluation.
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e. Hedge accounting
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PU[OLIHSHUJLZOLL[HUKHU`JOHUNLZ[OLYL[VPU[OLZ[H[LTLU[VMPUJVTL(KKP[PVUHSJVUZPKLYH[PVUZ^LYLTHKLPULZ[PTH[PUN[OL,*3
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[OLZLTHJYVLJVUVTPJMHJ[VYZ"
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WHUKLTPJ"
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the applicable loss rate.
;OLYLSH[LKHSSV^HUJLMVYJYLKP[SVZZLZVMÄUHUJPHSHZZL[ZHUKJVTTP[TLU[ZVM[OL.YV\WHUK[OL7HYLU[*VTWHU`HYLKPZJSVZLKPU
5V[LZHUK
b. Impairment of goodwill and branch licenses

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JOHUNLZPUJPYJ\TZ[HUJLZPUKPJH[L[OH[[OLJHYY`PUN]HS\LTHÌLPTWHPYLK0TWHPYTLU[PZKL[LYTPULKMVYNVVK^PSSHUKIYHUJOSPJLUZLZ
I`HZZLZZPUN[OLYLJV]LYHISLHTV\U[VM[OLJHZONLULYH[PUN\UP[*.<[VÔPJO[OLNVVK^PSSHUKIYHUJOSPJLUZLZHYLH[[YPI\[LK;OL
YLJV]LYHISL HTV\U[ VM [OL *.< PZ KL[LYTPULK IHZLK VU H ]HS\L PU \ZL =0< JHSJ\SH[PVU \ZPUN JHZO ÅV^ WYVQLJ[PVUZ MYVT ÄUHUJPHS
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WYVJLZZYLX\PYLZZPNUPÄJHU[Q\KNTLU[HUKPZIHZLKVUHZZ\TW[PVUZZWLJPÄJHSS`SVHUHUKKLWVZP[NYV^[OYH[LZKPZJV\U[YH[LHUK[OL
long-term growth rates.
>OLYL[OLYLJV]LYHISLHTV\U[PZSLZZ[OHU[OLJHYY`PUNHTV\U[VM[OL*.<[VÔPJONVVK^PSSHUKIYHUJOSPJLUZLZOH]LILLUHSSVJH[LK
HUPTWHPYTLU[SVZZPZYLJVNUPaLKPTTLKPH[LS`PU[OLZ[H[LTLU[VMPUJVTL0TWHPYTLU[SVZZLZYLSH[PUN[VNVVK^PSSJHUUV[ILYL]LYZLK
MVYZ\IZLX\LU[PUJYLHZLZPUP[ZYLJV]LYHISLHTV\U[PUM\[\YLWLYPVKZ;OLJHYY`PUN]HS\LZVM[OL.YV\W»ZNVVK^PSSHUKIYHUJOSPJLUZLZ
HYLKPZJSVZLKPU5V[L
c. 7YLZLU[]HS\LVMKLÄULKILULÄ[VISPNH[VUHUKYL[PYLTLU[L_WLUZL
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assumptions include, among others, discount rates and salary rates.
The assumed discount rates were determined using the market yields on Philippine government bonds with terms consistent with the
L_WLJ[LKLTWSV`LLILULÄ[WH`V\[HZVM[OLYLWVY[PUNKH[L;OLZHSHY`PUJYLHZLYH[LZ^LYLIHZLKVU[OL.YV\W»ZL_WLJ[H[PVUZVMM\[\YL
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5V[L

d. Recognition of deferred income taxes

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[OH[ JHU IL YLJVNUPaLK IHZLK VU [OL MVYLJHZ[LK SL]LS VM M\[\YL [H_HISL WYVÄ[Z HUK [OL YLSH[LK M\[\YL [H_ WSHUUPUN Z[YH[LNPLZ 2L`
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PUJVTLPZZV\YJLKTHPUS`MYVTPU[LYLZ[PUJVTLMYVTSLUKPUNHJ[P]P[PLZHUKLHYUPUNZMYVTZLY]PJLJOHYNLMLLZJVTTPZZPVUZHUK[Y\Z[
activities.
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e. 0TWHPYTLU[VUUVUÄUHUJPHSHZZL[Z
;OL .YV\W HZZLZZLZ PTWHPYTLU[ VU P[Z UVUÄUHUJPHS HZZL[Z LN PU]LZ[TLU[ WYVWLY[PLZ HUK IHUR WYLTPZLZ M\YUP[\YL Ä_[\YLZ HUK
LX\PWTLU[HUKJVUZPKLYZ[OLMVSSV^PUNPTWHPYTLU[PUKPJH[VYZ!
ZPNUPÄJHU[\UKLYWLYMVYTHUJLYLSH[P]L[VL_WLJ[LKOPZ[VYPJHSVYWYVQLJ[LKM\[\YLVWLYH[PUNYLZ\S[Z"
ZPNUPÄJHU[JOHUNLZPU[OLTHUULYVM\ZLVM[OLHJX\PYLKHZZL[ZVY[OLZ[YH[LN`MVYV]LYHSSI\ZPULZZ"HUK
ZPNUPÄJHU[ULNH[P]LPUK\Z[Y`VYLJVUVTPJ[YLUKZ
(UPTWHPYTLU[SVZZPZYLJVNUPaLKÔLUL]LY[OLJHYY`PUNHTV\U[VMHUHZZL[L_JLLKZP[ZYLJV]LYHISLHTV\U[,_JLW[MVYPU]LZ[TLU[
WYVWLY[PLZ ÔLYL YLJV]LYHISL HTV\U[ PZ KL[LYTPULK IHZLK VU MHPY ]HS\L SLZZ JVZ[ [V ZLSS [OL YLJV]LYHISL HTV\U[ VM HSS V[OLY UVU
ÄUHUJPHSHZZL[ZPZKL[LYTPULKIHZLKVU[OLHZZL[»Z]HS\LPU\ZLJVTW\[H[PVUÔPJOJVUZPKLYZ[OLWYLZLU[]HS\LVMLZ[PTH[LKM\[\YLJHZO
ÅV^ZL_WLJ[LK[VILNLULYH[LKMYVT[OLJVU[PU\LK\ZLVM[OLHZZL[;OL.YV\WPZYLX\PYLK[VTHRLLZ[PTH[LZHUKHZZ\TW[PVUZ[OH[
JHUTH[LYPHSS`HќLJ[[OLJHYY`PUNHTV\U[VM[OLHZZL[ILPUNHZZLZZLK
;OLJHYY`PUN]HS\LZVM[OL.YV\W»ZUVUÄUHUJPHSHZZL[ZHYLKPZJSVZLKPU5V[LZHUK
4. FINANCIAL INSTRUMENT CATEGORIES
;OLMVSSV^PUN[HISLWYLZLU[Z[OL[V[HSJHYY`PUNHTV\U[VM[OL.YV\W»ZHUK[OL7HYLU[*VTWHU`»ZÄUHUJPHSPUZ[Y\TLU[ZWLYJH[LNVY`!

2021 2021
Financial assets
Cash and other cash items P16,024,863 P P13,649,247 P
-PUHUJPHSHZZL[ZH[-=;73 7,209,667 5,457,804
+LYP]H[P]LJVU[YHJ[ZKLZPNUH[LKHZOLKNL 1,139,233 – 1,139,233 –
-PUHUJPHSHZZL[ZH[-=6*0 28,672,240 26,523,712
-PUHUJPHSHZZL[ZH[HTVY[PaLKJVZ[
+\LMYVT):7 124,283,115 114,528,773
+\LMYVTV[OLYIHURZ 10,694,312 9,897,264
0U[LYIHURSVHUZYLJLP]HISLZHUK:7<9( 36,559,224 35,030,997
0U]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[ 242,353,729 236,347,682
3VHUZHUKYLJLP]HISLZ 609,006,732 544,171,738
(JJY\LKPU[LYLZ[YLJLP]HISL 7,616,692 6,428,565
6[OLYHZZL[Z5V[L 3,366,335 1,728,412
1,033,880,139 948,133,431
;V[HSÄUHUJPHSHZZL[Z P1,086,926,142 P P994,903,427 P
2021 2021
6[OLYÄUHUJPHSSPHIPSP[PLZ!
+LWVZP[SPHIPSP[PLZ P862,859,897 P P782,218,900 P
Bonds payable 42,473,558 42,473,558
Bills payable 65,806,274 65,806,274
(JJY\LKPU[LYLZ[HUKV[OLYL_WLUZLZ 4,478,140 4,175,537
4HUHNLY»ZJOLJR 1,854,606 1,466,359
6[OLYSPHIPSP[PLZ5V[L 12,530,441 9,748,858
990,002,916 905,889,486
-PUHUJPHSSPHIPSP[PLZH[-=;73!
+LYP]H[P]LSPHIPSP[PLZ 998,721 998,721
+LYP]H[P]LJVU[YHJ[ZKLZPNUH[LKHZOLKNL 162,399 162,399
;V[HSÄUHUJPHSSPHIPSP[PLZ P991,164,036 P P907,050,606 P
(JJY\LKPU[LYLZ[HUKV[OLYL_WLUZLZL_JS\KLZHJJY\LK[H_LZHUKV[OLYSPJLUZLZ5V[L
5. FAIR VALUE MEASUREMENT
;OL.YV\WOHZHZZL[ZHUKSPHIPSP[PLZPU[OL.YV\WHUK7HYLU[*VTWHUÌHSHUJLZOLL[Z[OH[HYLTLHZ\YLKH[MHPY]HS\LVUHYLJ\YYPUNHUKUVU
YLJ\YYPUNIHZPZHM[LYPUP[PHSYLJVNUP[PVU9LJ\YYPUNMHPY]HS\LTLHZ\YLTLU[ZHYL[OVZL[OH[HUV[OLY7-9:YLX\PYLZVYWLYTP[Z[VILYLJVNUPaLK
PU[OLIHSHUJLZOLL[H[[OLLUKVMLHJOÄUHUJPHSYLWVY[PUNWLYPVK;OLZLPUJS\KLÄUHUJPHSHZZL[ZHUKSPHIPSP[PLZH[-=;73HUKÄUHUJPHSHZZL[Z
H[-=6*0
(Z VM +LJLTILY HUK L_JLW[ MVY [OL MVSSV^PUN ÄUHUJPHS PUZ[Y\TLU[Z [OL JHYY`PUN ]HS\LZ VM [OL .YV\W»Z HUK [OL 7HYLU[
*VTWHU`»ZÄUHUJPHSHZZL[ZHUKSPHIPSP[PLZHZYLÅLJ[LKPU[OLIHSHUJLZOLL[ZHUKYLSH[LKUV[LZHWWYV_PTH[L[OLPYYLZWLJ[P]LMHPY]HS\LZ!
2021
Carrying Value Fair Value Carrying Value Fair Value
Financial Assets
0U]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[5V[L
.V]LYUTLU[IVUKZ P120,586,399 P122,959,933 P115,324,372 P117,746,647
Private bonds 121,767,330 143,693,145 121,023,310 142,961,778
242,353,729 266,653,078 236,347,682 260,708,425
3VHUZHUKYLJLP]HISLZ5V[L
Corporate and commercial lending 476,742,179 474,629,406 461,837,893 458,204,469
Consumer lending 119,942,290 120,952,674 70,464,116 64,940,408
Trade-related lending 12,208,008 12,382,913 11,849,967 11,998,905
6[OLYZ 114,255 121,352 19,762 22,077
609,006,732 608,086,345 544,171,738 535,165,859
:HSLZJVU[YHJ[ZYLJLP]HISL5V[L 1,101,891 1,210,464 213,399 228,098
610,108,623 609,296,809 544,385,137 535,393,957
P852,462,352 P875,949,887 P780,732,819 P796,102,382
-VY^HYK

2021
Carrying Value Fair Value Carrying Value Fair Value
1RQðQDQFLDO$VVHWV
0U]LZ[TLU[WYVWLY[PLZ5V[L
3HUK P2,610,210 P5,074,992 P682,648 P2,559,622
Buildings and improvements 1,383,128 2,392,864 696,722 901,235
3,993,338 7,467,856 1,379,370 3,460,857
Financial Liabilities
;PTLKLWVZP[SPHIPSP[PLZ5V[L 307,650,145 303,288,548 270,271,411 265,926,690
)PSSZWH`HISL5V[L 65,806,274 64,358,633 65,806,274 64,358,633
)VUKZWH`HISL5V[L 42,473,558 42,249,623 42,473,558 42,249,623
P415,929,977 P409,896,804 P378,551,243 P372,534,946

*HYY`PUN=HS\L -HPY=HS\L *HYY`PUN=HS\L -HPY=HS\L
Financial Assets
0U]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[5V[L
.V]LYUTLU[IVUKZ P P P P
Private bonds

3VHUZHUKYLJLP]HISLZ5V[L
Corporate and commercial lending
Consumer lending
Trade-related lending
6[OLYZ

:HSLZJVU[YHJ[ZYLJLP]HISL5V[L

P P P P

1RQðQDQFLDO$VVHWV
0U]LZ[TLU[WYVWLY[PLZ5V[L
3HUK
Buildings and improvements
P P P P
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)PSSZWH`HISL5V[L
)VUKZWH`HISL5V[L
P P P P
;OLTL[OVKZHUKHZZ\TW[PVUZ\ZLKI`[OL.YV\WHUK7HYLU[*VTWHU`PULZ[PTH[PUN[OLMHPY]HS\LZVM[OLÄUHUJPHSPUZ[Y\TLU[ZMVSSV^!
Cash and other cash items, due from BSP and other banks, interbank loans receivable and SPURA and accrued interest receivable – The
JHYY`PUNHTV\U[ZHWWYV_PTH[L[OLPYMHPY]HS\LZPU]PL^VM[OLYLSH[P]LS`ZOVY[[LYTTH[\YP[PLZVM[OLZLPUZ[Y\TLU[Z
Debt securities – -HPY ]HS\LZ HYL NLULYHSS` IHZLK VU X\V[LK THYRL[ WYPJLZ 0M [OL THYRL[ WYPJLZ HYL UV[ YLHKPS` H]HPSHISL MHPY ]HS\LZ HYL
LZ[PTH[LK\ZPUNLP[OLY]HS\LZVI[HPULKMYVTPUKLWLUKLU[WHY[PLZVќLYPUNWYPJPUNZLY]PJLZVYHKQ\Z[LKX\V[LKTHYRL[WYPJLZVMJVTWHYHISL
PU]LZ[TLU[ZVY\ZPUN[OLKPZJV\U[LKJHZOÅV^TL[OVKVSVN`
Equity securities ¶-VYW\ISPJS`[YHKLKLX\P[`ZLJ\YP[PLZMHPY]HS\LZHYLIHZLKVUX\V[LKWYPJLZ-VY\UX\V[LKLX\P[`ZLJ\YP[PLZYLTLHZ\YLTLU[

[V[OLPYMHPY]HS\LZPZUV[TH[LYPHS[V[OLÄUHUJPHSZ[H[LTLU[Z
Loans and receivables and sales contracts receivable (SCR) included in other assets¶-HPY]HS\LZVMSVHUZHUKYLJLP]HISLZHUK:*9HYL
LZ[PTH[LK \ZPUN [OL KPZJV\U[LK JHZO ÅV^ TL[OVKVSVN` ÔLYL M\[\YL JHZO ÅV^Z HYL KPZJV\U[LK \ZPUN [OL .YV\W»Z J\YYLU[ PUJYLTLU[HS
SLUKPUNYH[LZMVYZPTPSHY[`WLZVMSVHUZHUKYLJLP]HISLZ
(JJV\U[ZYLJLP]HISL9*6*0HUKV[OLYÄUHUJPHSHZZL[ZPUJS\KLKPUV[OLYHZZL[Z¶8\V[LKTHYRL[WYPJLZHYLUV[YLHKPS`H]HPSHISLMVY[OLZL
HZZL[Z;OLZLHYLYLWVY[LKH[JVZ[HUKHYLUV[ZPNUPÄJHU[PUYLSH[PVU[V[OL.YV\W»Z[V[HSWVY[MVSPVVMÄUHUJPHSHZZL[Z
Derivative instruments (included under FVTPL and designated as hedges) – -HPY]HS\LZHYLLZ[PTH[LKIHZLKVUKPZJV\U[LKJHZOÅV^Z\ZPUN

WYL]HPSPUNPU[LYLZ[YH[LKPќLYLU[PHSHUKZWV[L_JOHUNLYH[LZ
Deposit liabilities (time, demand and savings deposits) ¶ -HPY ]HS\LZ VM [PTL KLWVZP[Z HYL LZ[PTH[LK \ZPUN [OL KPZJV\U[LK JHZO ÅV^
TL[OVKVSVN`ÔLYLM\[\YLJHZOÅV^ZHYLKPZJV\U[LK\ZPUN[OL.YV\W»ZJ\YYLU[PUJYLTLU[HSIVYYV^PUNYH[LZMVYZPTPSHYIVYYV^PUNZHUK^P[O
TH[\YP[PLZJVUZPZ[LU[^P[O[OVZLYLTHPUPUNMVY[OLSPHIPSP[ÌLPUN]HS\LK-VYKLTHUKHUKZH]PUNZKLWVZP[ZJHYY`PUNHTV\U[ZHWWYV_PTH[L
MHPY]HS\LZJVUZPKLYPUN[OH[[OLZLHYLJ\YYLU[S`K\LHUKKLTHUKHISL
Bonds payable and Bills payable ¶<USLZZX\V[LKTHYRL[WYPJLZHYLYLHKPS`H]HPSHISLMHPY]HS\LZHYLLZ[PTH[LK\ZPUN[OLKPZJV\U[LKJHZOÅV^

TL[OVKVSVN`ÔLYLM\[\YLJHZOÅV^ZHYLKPZJV\U[LK\ZPUN[OLJ\YYLU[PUJYLTLU[HSIVYYV^PUNYH[LZMVYZPTPSHYIVYYV^PUNZHUK^P[OTH[\YP[PLZ
JVUZPZ[LU[^P[O[OVZLYLTHPUPUNMVY[OLSPHIPSP[ÌLPUN]HS\LK
Manager’s checks and accrued interest and other expenses ¶*HYY`PUNHTV\U[ZHWWYV_PTH[LMHPY]HS\LZK\L[V[OLZOVY[[LYTUH[\YLVM[OL

accounts.
Other liabilities Quoted market prices are not readily available for these liabilities. ;OLZLHYLYLWVY[LKH[JVZ[HUKHYLUV[ZPNUPÄJHU[PUYLSH[PVU
[V[OL.YV\W»Z[V[HSWVY[MVSPV
-HPY=HS\L/PLYHYJO`
;OL.YV\W\ZLZ[OLMVSSV^PUNOPLYHYJO`MVYKL[LYTPUPUNHUKKPZJSVZPUN[OLMHPY]HS\LVMHZZL[ZHUKSPHIPSP[PLZI`]HS\H[PVU[LJOUPX\L!
Level 1: X\V[LKWYPJLZPUHJ[P]LTHYRL[ZMVYPKLU[PJHSHZZL[ZVYSPHIPSP[PLZ"
Level 2: UW\[ZV[OLY[OHUX\V[LKWYPJLZPUJS\KLKPU3L]LS[OH[HYLVIZLY]HISLMVY[OLHZZL[VYSPHIPSP[`LP[OLYKPYLJ[S`HZWYPJLZVYPUKPYLJ[S`
KLYP]LKMYVTWYPJLZ"HUK
3L]LS! inputs that are not based on observable market data or unobservable inputs.

(ZVM+LJLTILYHUK[OLMHPY]HS\LOPLYHYJO`VM[OL.YV\W»ZHUK[OL7HYLU[*VTWHU`»ZHZZL[ZHUKSPHIPSP[PLZHYLWYLZLU[LK
ILSV^!
Consolidated
2021
Level 1 Level 2 Level 3 Total
Recurring fair value measurements
-PUHUJPHSHZZL[ZH[-=;73
/LSKMVY[YHKPUN
.V]LYUTLU[IVUKZ P156,736 P23,173 P– P179,909
Treasury notes – 58,684 – 58,684
Treasury bills – 1,790,306 – 1,790,306
Private bonds 1,334,070 1,550,793 – 2,884,863
8\V[LKLX\P[`ZOHYLZ 1,063,897 – – 1,063,897
-PUHUJPHSHZZL[ZKLZPNUH[LKH[-=;73 151,209 – – 151,209
+LYP]H[P]LHZZL[Z – 1,080,799 – 1,080,799
+LYP]H[P]LJVU[YHJ[KLZPNUH[LKHZOLKNe – 1,139,233 – 1,139,233
-=6*0ÄUHUJPHSHZZL[Z –
.V]LYUTLU[IVUKZ 6,251,539 11,461,512 – 17,713,051
8\V[LKWYP]H[LIVUKZ 10,305,710 – – 10,305,710
8\V[LKLX\P[`ZOHYLZ 635,114 – – 635,114
P19,898,275 P17,104,500 P– P37,002,775
-PUHUJPHSSPHIPSP[PLZH[-=;73
+LYP]H[P]LSPHIPSP[PLZ P– P998,721 P– P998,721
+LYP]H[P]LJVU[YHJ[ZKLZPNUH[LKHZOLKNL – 162,399 – 162,399
P– P1,161,120 P– P1,161,120
Fair values of assets carried at amortized cost/cost
0U]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[
.V]LYUTLU[IVUKZ 122,959,933 – – 122,959,933
Private bonds 71,209,566 – 72,483,579 143,693,145
3VHUZHUKYLJLP]HISLZ
Corporate and commercial loans – – 474,629,406 474,629,406
Consumer loans – – 120,952,674 120,952,674
Trade-related loans – – 12,382,913 12,382,913
6[OLYZ – – 121,352 121,352
:HSLZJVU[YHJ[ZYLJLP]HISL – – 1,210,464 1,210,464
Investment properties
3HUK – – 5,074,992 5,074,992
Buildings and improvements – – 2,392,864 2,392,864
P194,169,499 P– P689,248,244 P883,417,743
Fair values of liabilities carried at amortized cost
Time deposit liabilities P– P– P303,288,548 P303,288,548
Bills payable 64,358,633 64,358,633
Bonds payable – – 42,249,623 42,249,623
P– P– P409,896,804 P409,896,804
Consolidated

3L]LS 3L]LS 3L]LS Total
/LSKMVY[YHKPUN
.V]LYUTLU[IVUKZ P P P– P
Treasury notes – –
Treasury bills – –
Private bonds – –
8\V[LKLX\P[`ZOHYLZ – –
-PUHUJPHSHZZL[ZKLZPNUH[LKH[-=;73 – –
+LYP]H[P]LHZZL[Z – –
-=6*0ÄUHUJPHSHZZL[Z
.V]LYUTLU[IVUKZ –
8\V[LKWYP]H[LIVUKZ – –
P P P– P
+LYP]H[P]LSPHIPSP[PLZ P– P P– P
+LYP]H[P]LJVU[YHJ[ZKLZPNUH[LKHZOLKNL – –
P– P P– P
.V]LYUTLU[IVUKZ P P– P– P
Private bonds –
3VHUZHUKYLJLP]HISLZ
Corporate and commercial loans – –
Consumer loans – –
Trade-related loans – –
6[OLYZ – –
:HSLZJVU[YHJ[ZYLJLP]HISL – –
3HUK – –
Buildings and improvements – –
P P– P P
Time deposit liabilities P– P– P P
Bills payable
Bonds payable – –
P– P– P P

Parent Company
2021
Level 1 Level 2 Level 3 Total
/LSKMVY[YHKPUN
.V]LYUTLU[IVUKZ P156,736 P23,173 P– P179,909
Treasury notes – 58,684 – 58,684
Treasury bills – 1,790,306 – 1,790,306
Private bonds 1,334,070 – – 1,334,070
8\V[LKLX\P[`ZOHYLZ 1,014,037 – – 1,014,037
+LYP]H[P]LHZZL[Z – 1,080,798 – 1,080,798
+LYP]H[P]LJVU[YHJ[KLZPNUH[LKHZOLKNL – 1,139,233 – 1,139,233
.V]LYUTLU[IVUKZ 4,192,999 11,461,512 – 15,654,511
8\V[LKWYP]H[LIVUKZ 10,245,868 – – 10,245,868
8\V[LKLX\P[`ZOHYLZ 604,968 – – 604,968
P17,548,678 P15,553,706 P– P33,102,384
+LYP]H[P]LSPHIPSP[PLZ – 998,721 – 998,721
+LYP]H[P]LJVU[YHJ[ZKLZPNUH[LKHZOLKNL – 162,399 – 162,399
– 1,161,120 – 1,161,120
.V]LYUTLU[IVUKZ P117,746,647 P– P– P117,746,647
Private bonds 70,478,199 – 72,483,579 142,961,778
3VHUZHUKYLJLP]HISLZ
Corporate and commercial loans – – 458,204,469 458,204,469
Consumer loans – – 64,940,408 64,940,408
Trade-related loans – – 11,998,905 11,998,905
6[OLYZ – – 22,077 22,077
:HSLZJVU[YHJ[ZYLJLP]HISL – – 228,098 228,098
3HUK – – 2,559,622 2,559,622
Buildings and improvements – – 901,235 901,235
P188,224,846 P– P611,338,393 P799,563,239

Time deposit liabilities P– P– P265,926,690 P265,926,690
Bills payable 64,358,633 64,358,633
Bonds payable – – 42,249,623 42,249,623
P– P– P372,534,946 P372,534,946
Parent Company

3L]LS 3L]LS 3L]LS Total
/LSKMVY[YHKPUN
.V]LYUTLU[IVUKZ P P P– P
Treasury notes – –
Treasury bills – –
Private bonds – –
+LYP]H[P]LHZZL[Z – –
.V]LYUTLU[IVUKZ –
8\V[LKWYP]H[LIVUKZ – –
P P P– P
+LYP]H[P]LSPHIPSP[PLZ P– P P– P
+LYP]H[P]LJVU[YHJ[ZKLZPNUH[LKHZOLKNL – –
P– P P– P
.V]LYUTLU[IVUKZ P P– P– P
Private bonds –
3VHUZHUKYLJLP]HISLZ
Corporate and commercial loans – –
Consumer loans – –
Trade-related loans – –
6[OLYZ – –
:HSLZJVU[YHJ[ZYLJLP]HISL – –
3HUK – –
Buildings and improvements – –
P P– P P
Time deposit liabilities P– P– P P
Bills payable
Bonds payable – –
P– P– P P

;OLYL^LYLUV[YHUZMLYZIL[^LLU3L]LSHUK3L]LSMHPY]HS\LTLHZ\YLTLU[ZHUKUV[YHUZMLYZPU[VHUKV\[VM3L]LSMHPY]HS\LTLHZ\YLTLU[Z
PUHUK
;OLPUW\[Z\ZLKPU[OLMHPY]HS\LTLHZ\YLTLU[IHZLKVU3L]LSHYLHZMVSSV^Z!
Government securities ¶PU[LYWVSH[LKYH[LZIHZLKVUTHYRL[YH[LZVMILUJOTHYRZLJ\YP[PLZHZVMYLWVY[PUNKH[L
Derivative assets and liabilities ¶MHPY]HS\LZHYLJHSJ\SH[LKI`YLMLYLUJL[V[OLWYL]HPSPUNPU[LYLZ[KPќLYLU[PHSHUKZWV[L_JOHUNLYH[LHZVM[OL

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0UW\[Z\ZLKPULZ[PTH[PUNMHPY]HS\LZVMÄUHUJPHSPUZ[Y\TLU[ZJHYYPLKH[HTVY[PaLKJVZ[HUKJH[LNVYPaLK\UKLY3L]LSPUJS\KLYPZRMYLLYH[LZ
and applicable risk premium.
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PU]LZ[TLU[WYVWLY[PLZOLSKI`[OL.YV\WHUK[OL7HYLU[*VTWHU`!
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LSLTLU[HUKJVYULYPUÅ\LUJL
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PU]LZ[TLU[WYVWLY[PLZHYLHZMVSSV^Z!
=HS\H[PVU;LJOUPX\LZ
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:PaL :PaLVMSV[PU[LYTZVMHYLH,]HS\H[LPM[OLSV[ZPaLVMWYVWLY[`VYJVTWHYHISLJVUMVYTZ[V[OLH]LYHNLJ\[VM[OLSV[ZPU
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:OHWL 7HY[PJ\SHYMVYTVYJVUÄN\YH[PVUVM[OLSV[(OPNOS`PYYLN\SHYZOHWLSPTP[Z[OL\ZHISLHYLHÔLYLHZHUPKLHSSV[
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JVUZPKLYH[PVUPMKH[HPZH]HPSHISL(ZHY\SLWYVWLY[PLZSVJH[LKHSVUNH4HPU9VHKHYLZ\WLYPVY[VWYVWLY[PLZSVJH[LK
along a secondary road.
;PTL,SLTLU[ ¸(UHKQ\Z[TLU[MVYTHYRL[JVUKP[PVUZPZTHKLPMNLULYHSWYVWLY[`]HS\LZOH]LHWWYLJPH[LKVYKLWYLJPH[LKZPUJL[OL
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case, the current data is superior to historic data.
+PZJV\U[ .LULYHSS`HZRPUNWYPJLZPUHKZWVZ[LKMVYZHSLHYLULNV[PHISL+PZJV\U[PZ[OLHTV\U[[OLZLSSLYVYKL]LSVWLYPZ^PSSPUN
[VKLK\J[MYVT[OLWVZ[LKZLSSPUNWYPJLPM[OL[YHUZHJ[PVU^PSSILPUJHZOVYLX\P]HSLU[
*VYULYPUÅ\LUJL )V\UKLKI`[^VYVHKZ
6. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
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I` [OL .YV\W [OYV\NO H YPNVYV\Z JVTWYLOLUZP]L HUK JVU[PU\V\Z WYVJLZZ VM PKLU[PÄJH[PVU TLHZ\YLTLU[ TVUP[VYPUN HUK TP[PNH[PVU VM
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JVU[YVSZ(ZYLÅLJ[LKPUP[ZJVYWVYH[LHJ[PVUZHUKVYNHUPaH[PVUHSPTWYV]LTLU[Z[OL.YV\WOHZWSHJLKK\LPTWVY[HUJLVUL_WHUKPUNHUK
Z[YLUN[OLUPUNP[ZYPZRTHUHNLTLU[WYVJLZZHUKJVUZPKLYZP[HZH]P[HSJVTWVULU[[V[OL.YV\W»ZJVU[PU\PUNWYVÄ[HIPSP[`HUKÄUHUJPHSZ[HIPSP[`
*LU[YHS[V[OL.YV\W»ZYPZRTHUHNLTLU[WYVJLZZPZP[ZHKVW[PVUVMHYPZRTHUHNLTLU[WYVNYHTPU[LUKLK[VH]VPK\UULJLZZHY`YPZRZTHUHNL
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position in the market.
;OLRL`ÄUHUJPHSYPZRZ[OH[[OL.YV\WMHJLZHYL!JYLKP[YPZRTHYRL[YPZRHUKSPX\PKP[`YPZR;OL.YV\W»ZYPZRTHUHNLTLU[VIQLJ[P]LPZWYPTHYPS`
MVJ\ZLKVUJVU[YVSSPUNHUKTP[PNH[PUN[OLZLYPZRZ;OL7HYLU[*VTWHU`HUKP[ZZ\IZPKPHYPLZTHUHNL[OLPYYLZWLJ[P]LÄUHUJPHSYPZRZZLWHYH[LS`
;OLZ\IZPKPHYPLZWHY[PJ\SHYS`*):0OH]L[OLPYVÛYPZRTHUHNLTLU[WYVJLZZLZI\[HYLZ[Y\J[\YLKZPTPSHY[V[OH[VM[OL7HYLU[*VTWHU`;V
HSHYNLL_[LU[[OLYLZWLJ[P]LYPZRTHUHNLTLU[WYVNYHTZHUKVIQLJ[P]LZHYL[OLZHTLHJYVZZ[OL.YV\W;OLZL]LYP[`VMYPZRTH[LYPHSP[`
HUK YLN\SH[PVUZ HYL WYPTHY` JVUZPKLYH[PVUZ PU KL[LYTPUPUN [OL ZJVWL HUK L_[LU[ VM [OL YPZR THUHNLTLU[ WYVJLZZLZ W\[ PU WSHJL MVY [OL
subsidiaries.
Risk Management Structure

;OL )6+ VM [OL 7HYLU[ *VTWHU` PZ \S[PTH[LS` YLZWVUZPISL MVY [OL V]LYZPNO[ VM [OL 7HYLU[ *VTWHU`»Z YPZR THUHNLTLU[ WYVJLZZLZ 6U
[OLV[OLYOHUK[OLYPZRTHUHNLTLU[WYVJLZZLZVM[OLZ\IZPKPHYPLZHYL[OLZLWHYH[LYLZWVUZPIPSP[PLZVM[OLPYYLZWLJ[P]L)6+Z;OL)6+
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monitoring risks.
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that adequate controls are in place and on monitoring compliance to controls. The regular audit covers all processes and controls, including
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pending but important internal audit issues.
Risk Mitigation
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viable improvements to avoid recurrence.
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by all universal and commercials banks to determine their minimum required capital relative to their business risk exposures. In this regard,
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Group’s Response to the COVID-19 Pandemic

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its implementation were also disseminated.
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[V[OL9PZR6]LYZPNO[*VTTP[[LL;OLHZZ\TW[PVUZ^LYLTVKPÄLK[V[HRLPU[VHJJV\U[[OLPTWYV]PUNLJVUVTPJJVUKP[PVUHUK[OLMHJ[[OH[
[OLIVYYV^LYZZL]LYLS`HќLJ[LKI`[OLWHUKLTPJOH]LHSYLHKÌLLUPKLU[PÄLKHUKIVVRLKHZUVUWLYMVYTPUN;OLJVUKP[PVUVMHJJV\U[Z
[OH[^LYLYLZ[Y\J[\YLKVY^P[O[LYTZTVKPÄJH[PVUJVU[PU\LK[VILTVUP[VYLKHUK[OVZL^P[OOPNOYPZRYH[PUN^LYLJVUZPKLYLKPU[OL573
approximations.

Credit Risk
*YLKP[YPZRPZ[OLYPZRVMÄUHUJPHSSVZZVUHJJV\U[VMHJV\U[LYWHY[`[VHÄUHUJPHSWYVK\J[MHPSPUN[VOVUVYP[ZVISPNH[PVU;OL.YV\WMHJLZ
WV[LU[PHSJYLKP[YPZRZL]LY`[PTLP[L_[LUKZM\UKZ[VIVYYV^LYZJVTTP[ZM\UKZ[VJV\U[LYWHY[PLZN\HYHU[LLZ[OLWH`PUNWLYMVYTHUJLVMP[Z
JSPLU[ZPU]LZ[ZM\UKZ[VPZZ\LYZPLPU]LZ[TLU[ZLJ\YP[PLZPZZ\LKI`LP[OLYZV]LYLPNUVYJVYWVYH[LLU[P[PLZVYLU[LYZPU[VLP[OLYTHYRL[[YHKLK
VY V]LY[OLJV\U[LY KLYP]H[P]LZ [OYV\NO PTWSPLK VY HJ[\HS JVU[YHJ[\HS HNYLLTLU[Z PL VU VY VќIHSHUJL ZOLL[ L_WVZ\YLZ ;OL .YV\W
THUHNLZP[ZJYLKP[YPZRH[]HYPV\ZSL]LSZPLZ[YH[LNPJSL]LSWVY[MVSPVSL]LSKVÛ[VPUKP]PK\HSJYLKP[VY[YHUZHJ[PVU
94.HSZVJVU[PU\LK[VY\UHWWYV_PTH[PVUZVM[OLPUJYLHZLPU573\UKLY)HZL4VKLYH[LHUK:L]LYLZJLUHYPVZHUKWYLZLU[LK[OLYLZ\S[Z
[V[OL9PZR6]LYZPNO[*VTTP[[LL;OLHZZ\TW[PVUZ^LYLTVKPÄLK[V[HRLPU[VHJJV\U[[OLPTWYV]PUNLJVUVTPJJVUKP[PVUHUK[OLMHJ[[OH[
[OLIVYYV^LYZZL]LYLS`HќLJ[LKI`[OLWHUKLTPJOH]LHSYLHKÌLLUPKLU[PÄLKHUKIVVRLKHZUVUWLYMVYTPUN;OLJVUKP[PVUVMHJJV\U[Z
[OH[^LYLYLZ[Y\J[\YLKVY^P[O[LYTZTVKPÄJH[PVUJVU[PU\LK[VILTVUP[VYLKHUK[OVZL^P[OOPNOYPZRYH[PUN^LYLJVUZPKLYLKPU[OL573
approximations.
;OL.YV\WLZ[HISPZOLKYPZRSPTP[ZHUK[OYLZOVSKZMVYW\YWVZLZVMTVUP[VYPUNHUKTHUHNPUNJYLKP[YPZRMYVTPUKP]PK\HSJV\U[LYWHY[PLZHUK
VYNYV\WZVMJV\U[LYWHY[PLZTHQVYPUK\Z[YPLZHZ^LSSHZJV\U[YPLZ0[HSZVJVUK\J[ZWLYPVKPJHSHZZLZZTLU[VM[OLJYLKP[^VY[OPULZZVMP[Z
JV\U[LYWHY[PLZ0UHKKP[PVU[OL.YV\WVI[HPUZJVSSH[LYHSÔLYLHWWYVWYPH[LLU[LYZPU[VTHZ[LYUL[[PUNHNYLLTLU[ZHUKJVSSH[LYHSHYYHUNLTLU[Z
^P[OJV\U[LYWHY[PLZHUKSPTP[Z[OLK\YH[PVUVML_WVZ\YLZ
Credit Risk Rating and Scoring Models

;OL7HYLU[*VTWHUÒHZMV\YJYLKP[YPZRYH[PUNTVKLSZPUWSHJL!MVYJVYWVYH[LIVYYV^LYZMVYYL[HPSZTHSSHUKTLKP\TLU[P[PLZHUKPUKP]PK\HS
HJJV\U[ZUVUJVUZ\TLYMVYÄUHUJPHSPUZ[P[\[PVUZHUKMVYZV]LYLPNUJV\U[Y`L_WVZ\YLZ0UHKKP[PVUP[HSZVOHZ[^VZJVYPUNTVKLSZMVY
auto and housing loan applicants.
0UJVTWSPHUJL^P[O):7YLX\PYLTLU[Z[OL7HYLU[*VTWHU`LZ[HISPZOLKHU0U[LYUHS*YLKP[9PZR9H[PUN:`Z[LT0*99:MVY[OLW\YWVZLVM
TLHZ\YPUNJYLKP[YPZRMVYJVYWVYH[LIVYYV^LYZPUHJVUZPZ[LU[THUULYHZHJJ\YH[LS`HZWVZZPISLHUK[OLYLHM[LY\ZLZ[OLYPZRPUMVYTH[PVUMVY
I\ZPULZZHUKÄUHUJPHSKLJPZPVUTHRPUN;OL0*99:JV]LYZJVYWVYH[LIVYYV^LYZ^P[O[V[HSHZZL[Z[V[HSMHJPSP[PLZVY[V[HSJYLKP[L_WVZ\YLZ
amounting to PTPSSPVUHUKHIV]L
-\Y[OLY[OL0*99:^HZKLZPNULK^P[OPU[OL[LJOUPJHSYLX\PYLTLU[ZKLÄULK\UKLY):7*PYJ\SHY5V 0[OHZ[^VJVTWVULU[ZUHTLS`!
H )VYYV^LY 9PZR 9H[PUN ÔPJO WYV]PKLZ HU HZZLZZTLU[ VM [OL JYLKP[^VY[OPULZZ VM [OL IVYYV^LY ^P[OV\[ JVUZPKLYPUN [OL WYVWVZLK
MHJPSP[`HUKZLJ\YP[`HYYHUNLTLU[ZHUKI3VHU,_WVZ\YL9H[PUNÔPJOWYV]PKLZHUHZZLZZTLU[VM[OLWYVWVZLKMHJPSP[PLZHZTP[PNH[LKVY
enhanced by security arrangements.
6U-LIY\HY` [OL)VHYKVM+PYLJ[VYZHWWYV]LK[OLYLJHSPIYH[LK0*99:TVKLS(TVUN[OLJOHUNLZTHKL^HZPU[OLYH[PUNZJHSLÔPJO^HZ
L_WHUKLKMYVT[LU[VMV\Y[LLUYH[PUNNYHKLZ[LUVMÔPJOMHSS\UKLY\UJSHZZPÄLKHJJV\U[Z^P[O[OLYLTHPUPUNMV\YMHSSPUN\UKLYJSHZZPÄLKHJJV\U[Z
PUHJJVYKHUJL^P[OYLN\SH[VY`WYV]PZPVUPUNN\PKLSPULZ0U94.YL]PL^LK[OLTL[OVKVSVN`PUKL[LYTPUPUN[OLZLJ\YP[`WVPU[ZHUKWYLZLU[LK
[OLWYVWVZLKJOHUNLZ[V[OL9PZR6]LYZPNO[*VTTP[[LL96*VU6J[VILY;OLYL]PZLKTL[OVKVSVN`^HZHWWYV]LKI`[OL)VHYKVU
5V]LTILY*OHUNLZ[OH[^LYLTHKLPUJS\KLZPTWSPM`PUN[OLJVTW\[H[PVUI`HSYLHK`JVUZPKLYPUN[OLSVHU]HS\LPU[OLWYVWVZLK
security points and aligning the security points with the estimated recovery value associated with the collateral/guarantee.
;OL 7HYLU[ *VTWHU` SH\UJOLK PU [OL )VYYV^LY *YLKP[ :JVYL )*: H JYLKP[ ZJVYPUN Z`Z[LT KLZPNULK MVY YL[HPS ZTHSS HUK TLKP\T
LU[P[PLZHUKPUKP]PK\HSSVHUHJJV\U[Z0U94.JVTWSL[LK[OLZ[H[PZ[PJHS]HSPKH[PVUVM[OL)*:\ZPUN[OLZHTLTL[OVKVSVN`HWWSPLK[V
[OL]HSPKH[PVUVM[OLJVYWVYH[LYPZRYH[PUNTVKLS;OL]HSPKH[PVUWYVJLZZ^HZJVUK\J[LK^P[O[OLHZZPZ[HUJLVM;LYHKH[HÔPJOWYV]PKLK[OL
HUHS`[PJZWSH[MVYT[VVSZHUK[LJOUPJHSN\PKHUJLMVYIV[OJYLKP[TVKLSWLYMVYTHUJLHZZLZZTLU[HUKYLJHSPIYH[PVU
;OL*(4,36;YH[PUNZ`Z[LT^HZHWWYV]LKI`[OL)6+PU[VZWLJPÄJHSS`HZZLZZ7OPSPWWPUL\UP]LYZHSJVTTLYJPHSHUK[OYPM[IHURZ0U
[OL7HYLU[*VTWHU`PTWSLTLU[LK[OLYH[PUNZ`Z[LTMVYY\YHSHUKJVVWLYH[P]LIHURZHZ^LSSHZ[OLYH[PUNZ`Z[LTMVYMVYLPNUÄUHUJPHS
institutions.
;OL7HYLU[*VTWHU`HSZVKL]LSVWLKH:V]LYLPNU9PZR9H[PUN4VKLSÔPJOWYV]PKLK[OL[VVSMVY[OL7HYLU[*VTWHU`[VHZZLZZ[OLZ[YLUN[O
VM[OLJV\U[Y`YH[LKPUYLMLYLUJL[VP[ZLJVUVTPJM\UKHTLU[HSZÄZJHSWVSPJ`PUZ[P[\[PVUHSZ[YLUN[OHUK]\SULYHIPSP[`[VL_[YLTLL]LU[Z;OL
TVKLS^HZHWWYV]LKI`[OL)VHYKVU:LW[LTILY
;OLZJVYLJHYKZMVYH\[VHUKOV\ZPUNSVHUZ^LYLVѝJPHSS`SH\UJOLKPU5V]LTILYHKVW[PUN[OLTVKLSZKL]LSVWLKI`*):^P[OH[OPYK
WHY[`JVUZ\S[HU[HUK\[PSPaPUNPU[LYUHSS`KL]LSVWLKZVM[^HYLPU[LYMHJLZMVY[OLPYPTWSLTLU[H[PVU
-VY [OL 7HYLU[ *VTWHU`»Z JYLKP[ JHYKZ Z[HY[PUN :LW[LTILY ;YHUZ\UPVU ZJVYL PZ ILPUN \ZLK PU SPL\ VM HU HJX\PZP[PVU ZJVYLJHYK [V
KL[LYTPULHWWSPJH[PVUHJJLW[HUJLPUJVUQ\UJ[PVU^P[OV[OLYJYLKP[HJJLW[HUJLJYP[LYPH
Concentration of Assets and Liabilities and Off-Balance Sheet Items

*VUJLU[YH[PVUZHYPZLÔLUHU\TILYVMJV\U[LYWHY[PLZHYLLUNHNLKPUZPTPSHYI\ZPULZZHJ[P]P[PLZVYHJ[P]P[PLZPU[OLZHTLNLVNYHWOPJYLNPVUVY
OH]LZPTPSHYLJVUVTPJMLH[\YLZ[OH[^V\SKJH\ZL[OLPYHIPSP[`[VTLL[JVU[YHJ[\HSVISPNH[PVUZ[VILZPTPSHYS`HќLJ[LKI`JOHUNLZPULJVUVTPJ
WVSP[PJHSVYV[OLYJVUKP[PVUZ*VUJLU[YH[PVUZPUKPJH[L[OLYLSH[P]LZLUZP[P]P[`VM[OL7HYLU[*VTWHU`»ZWLYMVYTHUJL[VKL]LSVWTLU[ZHќLJ[PUN
a particular industry or geographical location.
0UVYKLY[VH]VPKL_JLZZP]LJVUJLU[YH[PVUZVMYPZR[OL7HYLU[*VTWHU`»ZWVSPJPLZHUKWYVJLK\YLZPUJS\KLZWLJPÄJN\PKLSPULZMVJ\ZPUNVU
THPU[HPUPUNHKP]LYZPÄLKWVY[MVSPV0KLU[PÄLKJVUJLU[YH[PVUZVMJYLKP[YPZRZHYLJVU[YVSSLKHUKTHUHNLKHJJVYKPUNS`
;OL KPZ[YPI\[PVU VM [OL .YV\W»Z HUK 7HYLU[ *VTWHU`»Z HZZL[Z HUK SPHIPSP[PLZ HUK JYLKP[ JVTTP[TLU[ P[LTZ I` NLVNYHWOPJ YLNPVU HZ VM
+LJLTILYHUKPUTPSSPVUZMVSSV^Z!
Consolidated
2021
Assets* Liabilities Commitment** (ZZL[Z 3PHIPSP[PLZ Commitment**
.LVNYHWOPJ9LNPVU
Philippines P1,015,570 P983,516 P38,382 P P P
(ZPH 23,367 – 5,587
,\YVWL 45,736 – 793
<UP[LK:[H[LZ 2,246 7,648 137
6[OLYs 7 – –
P1,086,926 P991,164 P44,899 P P P
*Amounts are net of related allowance for credit losses
*Consists of Committed credit lines, Unused commercial letters of credit, Credit card lines, Outstanding guarantees issued and Standy credit commitments
Parent Company
2021
Assets* Liabilities Commitment** (ZZL[Z 3PHIPSP[PLZ Commitment**
.LVNYHWOPJ9LNPVU
Philippines P923,547 P899,403 P37,757 P P819,919 P
(ZPH 23,367 – 5,587
,\YVWL 45,736 – 793
<UP[LK:[H[LZ 2,246 7,648 137
6[OLYZ 7 – –
P994,903 P907,051 P44,274 P P P
*Amounts are net of related allowance for credit losses
**Consists of Committed credit lines, Unused commercial letters of credit, Credit card lines, Outstanding guarantees issued and Standby credit commitments

0UMVYTH[PVUVUJYLKP[JVUJLU[YH[PVUHZ[VPUK\Z[Y`VMÄUHUJPHSHZZL[ZNYVZZVM\ULHYULKKPZJV\U[HUKHSSV^HUJLMVYJYLKP[SVZZLZPZWYLZLU[LK
ILSV^!
Consolidated
2021
Loans and
Loans and Financial Advances
Receivables Investments to Banks Commitments Total
Real estate, renting and business services P172,217,058 P70,176,324 P– P885,124 P243,278,506
Electricity, gas and water 76,631,134 25,283,654 – 4,663,787 106,578,575
Wholesale and retail trade 45,125,057 – – 6,491,222 51,616,279
Transportation, storage and communication 58,116,995 3,414,689 – 1,136,456 62,668,140
Financial intermediaries 91,545,065 151,614,315 171,536,651 5,578,282 420,274,313
Manufacturing 34,264,150 16,063 – 3,773,283 38,053,496
Arts, entertainment and recreation 33,762,320 3,830,133 – 85,460 37,677,913
Accommodation and food service activities 11,379,789 4,591,085 – 827,642 16,798,516
Construction 10,387,329 10,585 – 3,663,434 14,061,348
Mining and quarrying 10,967,237 – – 1,002,343 11,969,580
Agriculture 7,312,462 – – 337,248 7,649,710
Education 4,446,512 676,071 – 322,060 5,444,643
Public administration and defense 60,036 – – 506,952 566,988
3URIHVVLRQDOVFLHQWLðFDQGWHFKQLFDO 841,426 4,645,001 – 1,511,896 6,998,323
activities
Others* 67,268,149 15,990,664 2,034,061 14,113,693 99,406,567
P624,324,719 P280,248,584 P173,570,712 P44,898,882 P1,123,042,897
6[OLYZJVUZPZ[VMHKTPUPZ[YH[P]LHUKZ\WWVY[ZLY]PJLOLHS[OOV\ZLOVSKHUKV[OLYHJ[P]P[PLZ
Consolidated

3VHUZHUK
3VHUZHUK -PUHUJPHS (K]HUJLZ
9LJLP]HISLZ Investments to Banks Commitments Total
9LHSLZ[H[LYLU[PUNHUKI\ZPULZZZLY]PJLZ P P P– P P
,SLJ[YPJP[`NHZHUK^H[LY –
Wholesale and retail trade –
Transportation, storage and communication –
-PUHUJPHSPU[LYTLKPHYPLZ
4HU\MHJ[\YPUN –
(Y[ZLU[LY[HPUTLU[HUKYLJYLH[PVU –
(JJVTTVKH[PVUHUKMVVKZLY]PJLHJ[P]P[PLZ –
Construction –
4PUPUNHUKX\HYY`PUN – –
(NYPJ\S[\YL – –
,K\JH[PVU –
7\ISPJHKTPUPZ[YH[PVUHUKKLMLUZL – –
7YVMLZZPVUHSZJPLU[PÄJHUK[LJOUPJHSHJ[P]P[PLZ –
6[OLYZ
P P P P P
Parent Company
2021
Loans and
Loans and Financial Advances
Receivables Investments to Banks Commitments Total
Real estate, renting and business services P149,067,673 P69,832,995 P– P792,308 P219,692,976
Electricity, gas and water 74,796,648 25,225,112 – 4,662,842 104,684,602
Financial intermediaries 90,964,720 142,340,451 159,457,033 5,577,282 398,339,486
Wholesale and retail trade 42,312,303 – – 6,315,485 48,627,788
Transportation, storage and
communication 56,097,019 3,409,904 – 1,135,456 60,642,379
Manufacturing 32,469,098 – – 3,752,183 36,221,281
Arts, entertainment and recreation 33,719,927 3,830,133 – 85,460 37,635,520
Accommodation and food service activities 10,740,999 4,591,085 – 827,492 16,159,576
Construction 9,545,693 – – 3,634,403 13,180,096
Mining and quarrying 10,966,519 – – 1,002,343 11,968,862
Agriculture 5,897,613 – – 337,236 6,234,849
Public administration and defense 60,036 – – 506,952 566,988
Education 4,023,325 564,935 – 322,060 4,910,320
3URIHVVLRQDOVFLHQWLðFDQGWHFKQLFDO
activities 761,461 4,645,001 – 1,504,048 6,910,510
Others* 35,415,712 15,695,056 566,679 13,818,286 65,495,733
P556,838,746 P270,134,672 P160,023,712 P44,273,836 P1,031,270,966
Parent Company

3VHUZHUK
3VHUZHUK -PUHUJPHS (K]HUJLZ
9LJLP]HISLZ Investments to Banks Commitments Total
9LHSLZ[H[LYLU[PUNHUKI\ZPULZZZLY]PJLs P P P– P P
,SLJ[YPJP[`NHZHUK^H[LY –
-PUHUJPHSPU[LYTLKPHYPLZ –
Wholesale and retail trade – –
Transportation, storage and communication
4HU\MHJ[\YPUN –
(Y[ZLU[LY[HPUTLU[HUKYLJYLH[PVU –
(JJVTTVKH[PVUHUKMVVKZLY]PJLHJ[P]P[PLZ –
Construction – –
4PUPUNHUKX\HYY`PUN – –
(NYPJ\S[\YL – –
7\ISPJHKTPUPZ[YH[PVUHUKKLMLUZL – –
,K\JH[PVU –
7YVMLZZPVUHSZJPLU[PÄJHUK[LJOUPJHSHJ[P]P[PLZ –
6[OLYZ
P P P P P

Maximum exposure to credit risk

;OL[HISLZILSV^WYV]PKL[OLHUHS`ZPZVM[OLTH_PT\TL_WVZ\YL[VJYLKP[YPZRVM[OL.YV\W»ZHUK[OL7HYLU[*VTWHU`»ZÄUHUJPHSPUZ[Y\TLU[Z
L_JS\KPUN[OVZLÔLYL[OLJHYY`PUN]HS\LZHZYLÅLJ[LKPU[OLIHSHUJLZOLL[ZHUKYLSH[LKUV[LZHSYLHK`YLWYLZLU[[OLÄUHUJPHSPUZ[Y\TLU[»Z
TH_PT\TL_WVZ\YL[VJYLKP[YPZRILMVYLHUKHM[LY[HRPUNPU[VHJJV\U[JVSSH[LYHSOLSKVYV[OLYJYLKP[LUOHUJLTLU[Z!
Consolidated
2021
)LQDQFLDOHσHFW
of collateral or
Gross maximum credit
exposure Net exposure enhancement
Credit risk exposure relating to on-balance sheet items are as
MVSSV^Z
3VHUZHUKYLJLP]HISLZ P609,006,732 P406,823,424 P202,183,308
0U[LYIHURSVHUZYLJLP]HISLHUK:7<9( 36,559,224 – 36,559,224
:HSLZJVU[YHJ[ZYLJLP]HISL 1,101,891 – 1,101,891
P646,667,847 P406,823,424 P239,844,423
Consolidated

-PUHUJPHSLќLJ[
VMJVSSH[LYHSVY
.YVZZTH_PT\T credit
exposure 5L[L_WVZ\YL enhancement
Credit risk exposure relating to on-balance sheet items are
HZMVSSV^Z
3VHUZHUKYLJLP]HISLZ P P P
0U[LYIHURSVHUZYLJLP]HISLHUK:7<9( –
:HSLZJVU[YHJ[ZYLJLP]HISL –
P P P
Parent
2021
)LQDQFLDOHσHFW
of collateral or
Gross maximum credit
exposure Net exposure enhancement
MVSSV^Z
3VHUZHUKYLJLP]HISLZ P544,171,738 P384,840,851 P159,330,887
0U[LYIHURSVHUZYLJLP]HISLHUK:7<9( 35,030,996 – 35,030,996
:HSLZJVU[YHJ[ZYLJLP]HISL 213,399 – 213,399
P579,416,133 P384,840,851 P194,575,282
Parent

-PUHUJPHSLќLJ[
VMJVSSH[LYHSVY
.YVZZTH_PT\T credit
exposure 5L[L_WVZ\YL enhancement
MVSSV^Z
3VHUZHUKYLJLP]HISLZ P P P
0U[LYIHURSVHUZYLJLP]HISLHUK:7<9( –
:HSLZJVU[YHJ[ZYLJLP]HISL –
P P P
-VY[OL.YV\W[OLMHPY]HS\LZVMJVSSH[LYHSOLSKMVYSVHUZHUKYLJLP]HISLZHUKZHSLZJVU[YHJ[ZYLJLP]HISLHTV\U[LK[VPIPSSPVUHUK
PIPSSPVUYLZWLJ[P]LS`HZVM+LJLTILYHUKPIPSSPVUHUKP IPSSPVUYLZWLJ[P]LS`HZVM+LJLTILY
-VY [OL 7HYLU[ *VTWHU` [OL MHPY ]HS\LZ VM JVSSH[LYHS OLSK MVY SVHUZ HUK YLJLP]HISLZ HUK ZHSLZ JVU[YHJ[Z YLJLP]HISL HTV\U[LK [V
P IPSSPVU HUK P IPSSPVU YLZWLJ[P]LS` HZ VM +LJLTILY HUK P IPSSPVU HUK P IPSSPVU YLZWLJ[P]LS` HZ VM
+LJLTILY
;OLMHPY]HS\LZVM[OLÄUHUJPHSJVSSH[LYHSZOLSKMVY:7<9(HYLKPZJSVZLKPU5V[L
*YLKP[YPZRPUYLZWLJ[VMKLYP]H[P]LÄUHUJPHSWYVK\J[ZPZSPTP[LK[V[OVZL^P[OWVZP[P]LMHPY]HS\LZÔPJOHYLPUJS\KLK\UKLYÄUHUJPHSHZZL[Z
H[-=;735V[L (ZHYLZ\S[[OLTH_PT\TJYLKP[YPZR^P[OV\[[HRPUNPU[VHJJV\U[[OLMHPY]HS\LVMHU`JVSSH[LYHSHUKUL[[PUNHNYLLTLU[Z
PZSPTP[LK[V[OLHTV\U[ZVU[OLIHSHUJLZOLL[WS\ZJVTTP[TLU[Z[VJ\Z[VTLYZZ\JOHZ\U\ZLKJVTTLYJPHSSL[[LYZVMJYLKP[V\[Z[HUKPUN
N\HYHU[LLZHUKV[OLYZHZKPZJSVZLKPU5V[L[V[OLÄUHUJPHSZ[H[LTLU[Z
Collateral and other credit enhancements

;OLHTV\U[HUK[`WLVMJVSSH[LYHSYLX\PYLKKLWLUKZVUHUHZZLZZTLU[VM[OLJYLKP[YPZRVM[OLJV\U[LYWHY[`.\PKLSPULZHYLPTWSLTLU[LK^P[O
YLNHYKZ[V[OLHJJLW[HIPSP[`VM[`WLZVMJVSSH[LYHSHUK]HS\H[PVUWHYHTL[LYZ
;OLTHPU[`WLZVMJVSSH[LYHSVI[HPULKHYLHZMVSSV^Z!
-VYZLJ\YP[PLZSLUKPUNHUKYL]LYZLYLW\YJOHZL[YHUZHJ[PVUZ¶JHZOVYZLJ\YP[PLZ
-VYJVUZ\TLYSLUKPUN¶YLHSLZ[H[LHUKJOH[[LSV]LY]LOPJSL
-VYJVYWVYH[LSLUKPUNHUKJVTTLYJPHSSLUKPUNYLHSLZ[H[LJOH[[LSV]LYWYVWLY[PLZHZZPNUTLU[VMKLWVZP[ZZOHYLZVMZ[VJRZIVUKZ
and guarantees
4HUHNLTLU[YLX\LZ[ZHKKP[PVUHSJVSSH[LYHSPUHJJVYKHUJL^P[O[OL\UKLYS`PUNHNYLLTLU[HUK[HRLZPU[VJVUZPKLYH[PVU[OLTHYRL[]HS\LVM
JVSSH[LYHSK\YPUNP[ZYL]PL^VM[OLHKLX\HJ`VMHSSV^HUJLMVYJYLKP[SVZZLZ
0[PZ[OL.YV\W»ZWVSPJ`[VKPZWVZLVMYLWVZZLZZLKWYVWLY[PLZPUHUVYKLYS`MHZOPVU;OLWYVJLLKZHYL\ZLK[VYLK\JLVYYLWH`[OLV\[Z[HUKPUN
JSHPT0UTVZ[JHZLZ[OL7HYLU[*VTWHU`KVLZUV[VJJ\W`YLWVZZLZZLKWYVWLY[PLZMVYI\ZPULZZ\ZL
Collateral valuation
;VTP[PNH[LP[ZJYLKP[YPZRZVUÄUHUJPHSHZZL[Z[OL.YV\WZLLRZ[V\ZLJVSSH[LYHSÔLYLWVZZPISL;OLJVSSH[LYHSJVTLZPU]HYPV\ZMVYTZZ\JO
HZJHZOZLJ\YP[PLZSL[[LYZVMJYLKP[N\HYHU[LLZYLHSLZ[H[LYLJLP]HISLZPU]LU[VYPLZV[OLYUVUÄUHUJPHSHZZL[ZHUKJYLKP[LUOHUJLTLU[Z
Z\JO HZ UL[[PUN HNYLLTLU[Z *VSSH[LYHS \USLZZ YLWVZZLZZLK PZ UV[ YLJVYKLK VU [OL .YV\W»Z IHSHUJL ZOLL[ /V^L]LY [OL MHPY ]HS\L VM
JVSSH[LYHSHќLJ[Z[OLJHSJ\SH[PVUVMSVZZHSSV^HUJLZ0[PZNLULYHSS`HZZLZZLKH[HTPUPT\TH[PUJLW[PVUHUKYLHZZLZZLKVUHUHUU\HSIHZPZ
;V[OLL_[LU[WVZZPISL[OL.YV\W\ZLZHJ[P]LTHYRL[KH[HMVY]HS\PUNÄUHUJPHSHZZL[ZOLSKHZJVSSH[LYHS6[OLYÄUHUJPHSHZZL[ZÔPJOKV
UV[OH]LYLHKPS`KL[LYTPUHISLTHYRL[]HS\LZHYL]HS\LK\ZPUNTVKLSZ5VUÄUHUJPHSJVSSH[LYHSZ\JOHZYLHSLZ[H[LPZ]HS\LKIHZLKVUKH[H
provided by internal or external appraisers.

&UHGLWTXDOLW\SHUFODVVRIƂQDQFLDODVVHWV
3VHUZHUK9LJLP]HISLZ
;OLJYLKP[X\HSP[`VMÄUHUJPHSHZZL[ZPZTHUHNLKI`[OL.YV\W\ZPUNHUPU[LYUHSJYLKP[YH[PUNZ`Z[LTMVY[OLW\YWVZLVMTLHZ\YPUNJYLKP[YPZRPU
HJVUZPZ[LU[THUULYHZHJJ\YH[LS`HZWVZZPISL;OLTVKLSVUYPZRYH[PUNZPZHZZLZZLKYLN\SHYSÌLJH\ZL[OL.YV\W\ZLZ[OPZPUMVYTH[PVUHZ
H[VVSMVYI\ZPULZZHUKÄUHUJPHSKLJPZPVUTHRPUN(ZPKLMYVT[OLWLYPVKPJYL]PLÎ`[OL7HYLU[*VTWHU`»Z0U[LYUHS(\KP[.YV\W[OL7HYLU[
*VTWHU`SPRL^PZLLUNHNLK[OLZLY]PJLZVM[OPYKWHY[`JVUZ\S[HU[ZPUHUKMVYW\YWVZLZVMJVUK\J[PUNHUPUKLWLUKLU[
]HSPKH[PVUVM[OLJYLKP[YPZRYH[PUNTVKLS
0[ PZ [OL 7HYLU[ *VTWHU`»Z WVSPJ` [V THPU[HPU HJJ\YH[L HUK JVUZPZ[LU[ YPZR YH[PUNZ HJYVZZ [OL JYLKP[ WVY[MVSPV ;OPZ MHJPSP[H[LZ MVJ\ZLK
THUHNLTLU[VM[OLHWWSPJHISLYPZRZHUK[OLJVTWHYPZVUVMJYLKP[L_WVZ\YLZHJYVZZHSSSPULZVMI\ZPULZZNLVNYHWOPJYLNPVUZHUKWYVK\J[Z
;OLYH[PUNZ`Z[LTPZZ\WWVY[LKI`H]HYPL[`VMÄUHUJPHSHUHS`[PJZJVTIPULK^P[OWYVJLZZLKTHYRL[PUMVYTH[PVU[VWYV]PKL[OLTHPUPUW\[ZMVY
[OLTLHZ\YLTLU[VMJV\U[LYWHY[`YPZR(SSPU[LYUHSYPZRYH[PUNZHYL[HPSVYLK[V[OL]HYPV\ZJH[LNVYPLZHUKHYLKLYP]LKPUHJJVYKHUJL^P[O[OL
7HYLU[*VTWHU`»ZYH[PUNWVSPJ`;OLH[[YPI\[HISLYPZRYH[PUNZHYLHZZLZZLKHUKTVUP[VYLKYLN\SHYS`
;OLYH[PUNJH[LNVYPLZHYLM\Y[OLYKLZJYPILKILSV^
High Grade
;OPZ PUJS\KLZ HSS IVYYV^LYZ ÔVZL YH[PUNZ HYL JVUZPKLYLK HZ 3V^ 9PZR HUKVY [OVZL ÔLYL [OL L_WVZ\YLZ HYL JV]LYLK I` .V]LYUTLU[
.\HYHU[LL;O\Z[OLZLIVYYV^LYZOH]LH]LY`SV^WYVIHIPSP[`VMNVPUNPU[VKLMH\S[PU[OLJVTPUN`LHY
0U[LYTZVMIVYYV^LYJYLKP[YH[PUNZ[OLZLPUJS\KL[OLMVSSV^PUN!
( 0*99:*V]LYLK
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)99:[YVUN
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:[YVUN
.LULYHSS`H3V^9PZR/PNO.YHKLYH[PUNPZPUKPJH[P]LVMHOPNOJHWHJP[`[VM\SÄSSP[ZVISPNH[PVUZZ\WWVY[LKI`YVI\Z[ÄUHUJPHSZPLWYVÄ[HISL
^P[OYL[\YUZJVUZPKLYHISÒPNOLY[OHU[OLPUK\Z[Y`LSL]H[LKJHWHJP[PLZ[VZLY]PJLP[ZSPHIPSP[PLZNHPUM\SWVZP[PVUPUNPUNYV^PUNPUK\Z[YPLZPL
WHY[PJPWH[PVUPUPUK\Z[YPLZÔLYLJVUKP[PVUZHYL]LY`MH]VYHISLHUKPUÔPJO[OL`HYLHISL[VNL[HNVVKZOHYLVM[OLTHYRL[HUK]LY`Z[YVUN
leadership providing clear strategic direction and/or excellent training and development programs.
Standard Grade
;OPZPUJS\KLZHSSIVYYV^LYZÔVZLYH[PUNZHYLJVUZPKLYLKHZ4VKLYH[L9PZRHUKHYLZLLU[V^P[OZ[HUK[`WPJHSZ^PUNZPU[OLLJVUVTPJJ`JSL
^P[OV\[NVPUNPU[VKLMH\S[/V^L]LYHU`WYVSVUNLK\UMH]VYHISLLJVUVTPJWLYPVK^V\SKJYLH[LKL[LYPVYH[PVU[OH[TH`HSYLHKÌLIL`VUK
acceptable levels.
0U[LYTZVMIVYYV^LYJYLKP[YH[PUNZ[OLZLPUJS\KL[OLMVSSV^PUN!
( 0*99:*V]LYLK
)99:H[PZMHJ[VY`
)99(JJLW[HISL
)99-HPY
B. )*:*V]LYLK
:H[PZMHJ[VY`
(JJLW[HISL
.LULYHSS`H4VKLYH[L9PZR:[HUKHYK.YHKLYH[PUNZPNUPÄLZHIVYYV^LYÔVZLÄUHUJPHSWLYMVYTHUJLPZZ\ѝJPLU[[VZLY]PJLVISPNH[PVUZHUKPZ
H[WHY^P[OJVTWL[P[VYZPU[OLPUK\Z[Y`0U[LYTZVMTHUHNLTLU[P[PZY\UI`L_LJ\[P]LZ^P[OHKLX\H[LWLYZVUHSHUKWYVMLZZPVUHSX\HSPÄJH[PVUZ
HUKZ\ѝJPLU[L_WLYPLUJLPUZPTPSHYJVTWHUPLZ0U[LYTZVMNYV^[OWV[LU[PHSP[PZLUNHNLKPUHUPUK\Z[Y`^P[OZ[HISLV\[SVVRZ\WWVY[P]LVM
continuing operations.
Sub-Standard Grade
0U[LYTZVMIVYYV^LYJYLKP[YH[PUNZ[OPZPUJS\KLZ[OLMVSSV^PUN!
<UJSHZZPÄLK
( 0*99:*V]LYLK
)99>H[JOSPZ[
)99 :WLJ\SH[P]L
)99/PNOS`:WLJ\SH[P]L
B. )*:*V]LYLK
• Watchlist
(K]LYZLS`*SHZZPÄLK
( 0*99:HUK)*:*V]LYLK
)99,ZWLJPHSS`4LU[PVULK
)99:\IZ[HUKHYK
)99+V\I[M\S
)993VZZ
-VYHJJV\U[Z[OH[HYL<UJSHZZPÄLKH/PNO9PZR:\I:[HUKHYK.YHKLYH[PUNPZPUKPJH[P]LVMIVYYV^LYZÔLYL[OLYLHYL\UMH]VYHISLPUK\Z[Y`
VYJVTWHU`ZWLJPÄJMHJ[VYZ;OPZTHÌLÄUHUJPHSPUUH[\YLPLTHYNPUHSVWLYH[PUNWLYMVYTHUJLYL[\YUZ[OH[HYLSV^LY[OHU[OVZLVM[OL
PUK\Z[Y` HUKVY KPTPUPZOLK JHWHJP[` [V WH` Vќ VISPNH[PVUZ [OH[ HYL K\L YLSH[LK [V THUHNLTLU[ X\HSP[` PUJS\KPUN ULNH[P]L PUMVYTH[PVU
YLNHYKPUN[OLJVTWHU`VYZWLJPÄJL_LJ\[P]LZHUKVY\UMH]VYHISLPUK\Z[Y`JVUKP[PVUZ;OLIVYYV^LYTPNO[ÄUKP[]LYÒHYK[VJVWL^P[OHU`
ZPNUPÄJHU[LJVUVTPJKVÛ[\YUHUKHKLMH\S[PUZ\JOHJHZLPZTVYL[OHUHWVZZPIPSP[`;OLZLHJJV\U[ZYLX\PYLHJSVZLYTVUP[VYPUNMVYHU`
ZPNUZVMM\Y[OLYKL[LYPVYH[PVU^HYYHU[PUNHK]LYZLJSHZZPÄJH[PVU
(K]LYZLS`*SHZZPÄLKHJJV\U[ZHYLH\[VTH[PJHSS`JVUZPKLYLKHZOPNOYPZRHUKNLULYHSS`PUJS\KLZWHZ[K\LHJJV\U[Z/V^L]LYPUZVTLJHZLZ
L]LUHJJV\U[Z[OH[HYLULP[OLYWHZ[K\LUVYPTWHPYLKX\HSPÄLZMVYHK]LYZLJSHZZPÄJH[PVU9LHZVUZMVY[OPZPUJS\KLHTVUNV[OLYZ[OLMVSSV^PUN!
JVUZLJ\[P]LUL[SVZZLZLTLYNPUN^LHRULZZLZPU[LYTZVMJHZOÅVÛLNH[P]LLX\P[`HUKVYIYLHJOPU[OLJV]LUHU[ZWLY[LYTSVHUHNYLLTLU[
-VYJVUZ\TLYSVHUZ[OH[HYLJV]LYLKI`HWWSPJH[PVUZJVYLJHYKZÔPJOWYV]PKLLP[OLYHWHZZMHPSZJVYL[OLIHZPZMVYJYLKP[X\HSP[`YH[PUNPZ
[OL):7JSHZZPÄJH[PVUMVY[OVZL[OH[HYLIVVRLKHZ*\YYLU[PL:[HUKHYK.YHKLPM<UJSHZZPÄLKHUK:\I:[HUKHYK.YHKLPM*SHZZPÄLKHUK
PTWHPYTLU[Z[H[\ZMVY[OVZL[OH[HYLIVVRLKHZ7HZ[+\L0[LTZPU3P[PNH[PVU;OL7HYLU[*VTWHUÒHZHWWSPLK[OPZWVSPJ`JVUZPZ[LU[S`
MVYP[ZJVUZ\TLYSVHUZHZVM+LJLTILYHUK)LNPUUPUN+LJLTILY[OL.YV\WOHZHWWSPLK[OPZWVSPJ`MVY*):PU
KL[LYTPUPUN[OLJYLKP[X\HSP[`YH[PUNMVYJVUZ\TLYSVHUZ;OPZYLZ\S[LKPU[OL¸:[HUKHYKNYHKL¹JSHZZPÄJH[PVUMVY[OLJVUZ\TLYSVHUZVM*):
amounting to PIPSSPVUHZVM+LJLTILY/HK[OPZILLUHWWSPLKHZVM+LJLTILY[OLYL^V\SKOH]LILLUHKLJYLHZL
amounting to PIPSSPVU\UKLY¸/PNONYHKL¹HUKHJVYYLZWVUKPUNPUJYLHZLMVY[OLZHTLHTV\U[\UKLY¸:[HUKHYKNYHKL¹[VHJJV\U[MVY
*):»JVUZ\TLYSVHUZPU[OL.YV\W»ZJYLKP[L_WVZ\YLZ
;OLÄUHUJPHSHZZL[ZHYLHSZVNYV\WLKHJJVYKPUN[VZ[HNLÔVZLKLZJYPW[PVUPZL_WSHPULKHZMVSSV^Z!
Stage 1¶[OVZL[OH[HYLJVUZPKLYLKJ\YYLU[HUK\W[VKH`ZWHZ[K\LHUKIHZLKVUJOHUNLPUYH[PUNKLSPUX\LUJPLZHUKWH`TLU[OPZ[VY`
KVUV[KLTVUZ[YH[LZPNUPÄJHU[PUJYLHZLPUJYLKP[YPZR
Stage 2¶[OVZL[OH[IHZLKVUJOHUNLPUYH[PUNKLSPUX\LUJPLZHUKWH`TLU[OPZ[VY`KLTVUZ[YH[LZPNUPÄJHU[PUJYLHZLPUJYLKP[YPZRHUKVY
HYLJVUZPKLYLKTVYL[OHUKH`ZWHZ[K\LI\[KVLZUV[KLTVUZ[YH[LVIQLJ[P]LL]PKLUJLVMPTWHPYTLU[HZVMYLWVY[PUNKH[L
:[HNL¶[OVZL[OH[HYLJVUZPKLYLKPUKLMH\S[VYKLTVUZ[YH[LVIQLJ[P]LL]PKLUJLVMPTWHPYTLU[HZVMYLWVY[PUNKH[L

;OLMVSSV^PUN[HISLZPSS\Z[YH[L[OL.YV\W»ZHUK[OL7HYLU[*VTWHU`»ZJYLKP[L_WVZ\YLZHTV\U[ZPUTPSSPVUZ
Consolidated 2021
ECL Staging
Stage 1 Stage 2 Stage 3
Corporate and commercial lending 12-month ECL Lifetime ECL Lifetime ECL Total
5LP[OLYWHZ[K\LUVYPTWHPYLK
/PNONYHKL P32,100 P142 P– P32,242
:[HUKHYKNYHKL 272,567 20,677 – 293,244
:\I:[HUKHYK 123,413 29,259 – 152,672
<UYH[LK 749 23 – 772
Past due but not impaired – 517 – 517
Past due and impaired – – 9,631 9,631
Gross carrying amount P428,829 P50,618 P9,631 P489,078
Consolidated 2021
ECL Staging
Consumer Lending 12-month ECL Lifetime ECL Lifetime ECL Total
/PNONYHKL P209 P11 P– P220
:[HUKHYKNYHKL 95,767 5,708 – 101,475
:\I:[HUKHYK 3,212 5,817 – 9,029
<UYH[LK 1,053 1,944 – 2,997
Past due but not impaired – 2,890 – 2,890
Consolidated 2021
ECL Staging
Trade-related Lending 12-month ECL Lifetime ECL Lifetime ECL Total
Neither past due nor impaired
/PNONYHKL P452 P– P– P452
:[HUKHYKNYHKL 7,051 3 – 7,054
:\I:[HUKHYK 3,730 938 – 4,668
<UYH[LK – – – –
Past due and impaired – – 255 255
Gross carrying amount P11,233 P966 P255 P12,454
Consolidated 2021
ECL Staging
Others 12-month ECL Lifetime ECL Lifetime ECL Total
Neither past due nor impaired
:[HUKHYKNYHKL – – – –
:\I:[HUKHYK – – – –
<UYH[LK 20 – – 20
Gross carrying amount P105 P7 P5 P117
Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
Corporate and commercial lending TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
/PNONYHKL P P P– P
:[HUKHYKNYHKL –
:\I:[HUKHYK –
<UYH[LK –
Past due but not impaired – –
Past due and impaired – –
.YVZZJHYY`PUNHTV\U[ P P P P
Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
*VUZ\TLY3LUKPUN TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
:[HUKHYKNYHKL –
:\I:[HUKHYK –
<UYH[LK –
Past due but not impaired –

Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
;YHKLYLSH[LK3LUKPUN TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
:[HUKHYKNYHKL –
:\I:[HUKHYK –
<UYH[LK – – – –
Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
6[OLYZ TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
/PNONYHKL P P– P– P
:[HUKHYKNYHKL – –
:\I:[HUKHYK – – – –
<UYH[LK – –
Past due but not impaired – – – –
Parent Company 2021

ECL Staging
/PNONYHKL P25,247 P142 P– P25,389
:[HUKHYKNYHKL 272,567 15,850 – 288,417
:\I:[HUKHYK 123,413 28,027 – 151,440
<UYH[LK 749 23 – 772
Parent Company 2021
ECL Staging
Consumer Lending 12-month ECL Lifetime ECL Lifetime ECL Total
/PNONYHKL P208 P11 P– P219
:[HUKHYKNYHKL 49,157 5,704 – 54,861
:\I:[HUKHYK 3,212 5,817 – 9,029
<UYH[LK 1,053 1,944 – 2,997
Parent Company 2021

ECL Staging
7UDGHĚUHODWHG/HQGLQJ 12-month ECL Lifetime ECL Lifetime ECL Total
:[HUKHYKNYHKL 7,051 4 – 7,055
:\I:[HUKHYK 3,730 938 – 4,668
<UYH[LK – – – –
Gross carrying amount P10,911 P942 P227 P12,080
Parent Company 2021

ECL Staging
/PNONYHKL P– P– P– P–
:\I:[HUKHYK – – – –
<UYH[LK 20 – – 20
Past due and impaired – – – –
Gross carrying amount P20 P– P– P20

Parent Company

,*3:[HNPUN
:[HNL :[HNL :[HNL
Corporate and commercial lending TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
:[HUKHYKNYHKL –
:\I:[HUKHYK –
<UYH[LK 119 –
Parent Company

,*3:[HNPUN
:[HNL :[HNL :[HNL
*VUZ\TLY3LUKPUN TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
:[HUKHYKNYHKL –
:\I:[HUKHYK –
<UYH[LK –
Parent Company

,*3:[HNPUN
:[HNL :[HNL :[HNL
;YHKLòYLSH[LK3LUKPUN TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
:[HUKHYKNYHKL –
:\I:[HUKHYK –
<UYH[LK – – – –
Past due but not impaired 1 –
Parent Company
,*3:[HNPUN
:[HNL :[HNL :[HNL
6[OLYZ TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
/PNONYHKL P– P– P– P–
:\I:[HUKHYK – – – –
<UYH[LK – –
Past due and impaired – – – –
.YVZZJHYY`PUNHTV\U[ P P– P– P
+LWVZP[VY`HJJV\U[Z^P[O[OL):7HUKJV\U[LYWHY[ÌHURZ;YHKPUNHUK0U]LZ[TLU[:LJ\YP[PLZ
-VY[OLZLÄUHUJPHSHZZL[ZV\[Z[HUKPUNL_WVZ\YLPZYH[LKWYPTHYPSÌHZLKVUL_[LYUHSYPZRYH[PUNVM: 74VVK`»ZHUKVY-P[JOÔLUH]HPSHISL"
otherwise, rating is based on risk grades by Philratings.
-VY[OPZ`LHY»ZKPZJSVZ\YL[OL.YV\WYL[HPULK[OL\ZLVMPU[LYUHSYH[PUNMVYJV\U[LYWHY[PLZ^P[OUVL_[LYUHSYH[PUN/V^L]LY[VPTWYV]L[OL
WYVJLZZPUZ[LHKVMTHWWPUN[OLPU[LYUHSYH[PUN[VP[ZLX\P]HSLU[L_[LYUHSYH[PUNHUK[OLUNL[[PUN[OLJH[LNVY`PLOPNONYHKLZ[HUKHYKNYHKL
VYZ\IZ[HUKHYKNYHKLIHZLKVUL_[LYUHSYH[PUN[OLJH[LNVY`VM[OLPU[LYUHSYH[PUN^HZKPYLJ[S`HWWSPLK
,_WVZ\YLZ^P[OULP[OLYL_[LYUHSUVYPU[LYUHSYH[PUNZHYLPUJS\KLK\UKLY¸<UYH[LK¹
;OL L_[LYUHS YPZR YH[PUN VM [OL .YV\W»Z KLWVZP[VY` HJJV\U[Z ^P[O [OL ):7 HUK JV\U[LYWHY[` IHURZ [YHKPUN HUK PU]LZ[TLU[ ZLJ\YP[PLZ PZ
NYV\WLKHZMVSSV^Z!
Credit Quality Rating External Credit Risk Rating Credit Rating Agency
/PNO.YHKL (((((((((ò : 7
(HH(H(H(H 4VVK`»Z
(((((((((ò -P[JO
:[HUKHYK.YHKL (((ò)))))))))ò : 7
((()HH)HH)HH 4VVK`»Z
(((ò)))))))))ò -P[JO
:\IZ[HUKHYK.YHKL ))))))ò))*****9:+ + : 7
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))))))ò))***9:+ + -P[JO
Rating Description
High grade
AAA ¶(UVISPNVYOHZL_[YLTLS`Z[YVUNJHWHJP[`[VTLL[P[ZÄUHUJPHSJVTTP[TLU[Z
AA ¶(UVISPNVYOHZ]LY`Z[YVUNJHWHJP[`[VTLL[P[ZÄUHUJPHSJVTTP[TLU[Z0[KPќLYZMYVT[OLOPNOLZ[YH[LKVISPNVYZH[HTPUPTHSKLNYLL
Standard Grade
A ¶(UVISPNVYOHZZ[YVUNJHWHJP[`[VTLL[P[ZÄUHUJPHSJVTTP[TLU[ZI\[PZZVTLÔH[TVYLZ\ZJLW[PISL[V[OLHK]LYZLLќLJ[ZVMJOHUNLZPU
circumstances and economic conditions than obligors in higher-rated categories.

)))HUKILSV^!
))) ¶ (U VISPNVY OHZ HKLX\H[L JHWHJP[` [V TLL[ P[Z ÄUHUJPHS JVTTP[TLU[Z /V^L]LY HK]LYZL LJVUVTPJ JVUKP[PVUZ VY JOHUNPUN
JPYJ\TZ[HUJLZHYLTVYLSPRLS`[VSLHK[VH^LHRLULKJHWHJP[`VM[OLVISPNVY[VTLL[P[ZÄUHUJPHSJVTTP[TLU[Z
Substandard Grade
)) ¶ (U VISPNVY PZ SLZZ ]\SULYHISL PU [OL ULHY [LYT [OHU V[OLY SV^LYòYH[LK VISPNVYZ /V^L]LY P[ MHJLZ THQVY VUNVPUN \UJLY[HPU[PLZ HUK
L_WVZ\YL[VHK]LYZLI\ZPULZZÄUHUJPHSVYLJVUVTPJJVUKP[PVUZÔPJOJV\SKSLHK[V[OLVISPNVY»ZPUHKLX\H[LJHWHJP[`[VTLL[P[ZÄUHUJPHS
commitments.
)¶(UVISPNVYPZTVYL]\SULYHISL[OHU[OLVISPNVYZYH[LKº))»I\[[OLVISPNVYJ\YYLU[SÒHZ[OLJHWHJP[`[VTLL[P[ZÄUHUJPHSJVTTP[TLU[Z
(K]LYZLI\ZPULZZÄUHUJPHSVYLJVUVTPJJVUKP[PVUZ^PSSSPRLS`PTWHPY[OLVISPNVY»ZJHWHJP[`VY^PSSPUNULZZ[VTLL[P[ZÄUHUJPHSJVTTP[TLU[Z
***¶(UVISPNVYPZJ\YYLU[S`]\SULYHISLHUKPZKLWLUKLU[\WVUMH]VYHISLI\ZPULZZÄUHUJPHSHUKLJVUVTPJJVUKP[PVUZMVY[OLVISPNVY[V
TLL[P[ZÄUHUJPHSJVTTP[TLU[Z
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:+HUK+¶(UVISPNVYPZPUKLMH\S[VUVULVYTVYLVMP[ZÄUHUJPHSVISPNH[PVUZPUJS\KPUNYH[LKHUK\UYH[LKÄUHUJPHSVISPNH[PVUZI\[L_JS\KPUN
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Credit Quality Rating External Credit Risk Rating

/PNONYHKL 79:(((79:(H79:(H79:(Hò
:[HUKHYKNYHKL 79:(79:(79:(ò79:)HH79:)HH79:)HHò
:\IZ[HUKHYKNYHKL 79:)H79:)H79:)Hò79:)79:)79:)ò79:*HH79:*HH79:*HHò
79:*H79:*H79:*Hò79:*79:*79:*ò
9H[PUN+LZJYPW[PVU
High grade
79:(HH¶;OLVISPNVY»ZJHWHJP[`[VTLL[P[ZÄUHUJPHSJVTTP[TLU[VU[OLVISPNH[PVUPZL_[YLTLS`Z[YVUN
79:(H¶;OLVISPNVY»ZJHWHJP[`[VTLL[P[ZÄUHUJPHSJVTTP[TLU[VU[OLVISPNH[PVUPZ]LY`Z[YVUN
Standard Grade
79:(¶>P[OMH]VYHISLPU]LZ[TLU[H[[YPI\[LZHUKHYLJVUZPKLYLKHZ\WWLYTLKP\TNYHKLVISPNH[PVUZ(S[OV\NOVISPNH[PVUZYH[LKº79:(»
HYL ZVTLÔH[ TVYL Z\ZJLW[PISL [V [OL HK]LYZL LќLJ[Z VM JOHUNLZ PU LJVUVTPJ JVUKP[PVUZ [OL VISPNVY»Z JHWHJP[` [V TLL[ P[Z ÄUHUJPHS
commitments on the obligation is still strong.
79:)HH¶(UVISPNH[PVUYH[LKº79:)HH»L_OPIP[ZHKLX\H[LWYV[LJ[PVUWHYHTL[LYZ/V^L]LYHK]LYZLLJVUVTPJJVUKP[PVUZHUKJOHUNPUN
JPYJ\TZ[HUJLZHYLTVYLSPRLS`[VSLHK[VH^LHRLULKJHWHJP[`VM[OLVISPNVY[VTLL[P[ZÄUHUJPHSJVTTP[TLU[VU[OLVISPNH[PVU79:)HH
rated issues may possess certain speculative characteristics.
Substandard Grade
79:)H¶(UVISPNH[PVUYH[LKº79:)H»PZSLZZ]\SULYHISL[VUVUWH`TLU[[OHUV[OLYZWLJ\SH[P]LPZZ\LZ/V^L]LYP[MHJLZTHQVYVUNVPUN
\UJLY[HPU[PLZYLSH[PUN[VI\ZPULZZÄUHUJPHSVYLJVUVTPJJVUKP[PVUZÔPJOJV\SKSLHK[V[OLVISPNVY»ZPUHKLX\H[LJHWHJP[`[VTLL[P[ZÄUHUJPHS
commitment on the obligation.
79:)¶(UVISPNH[PVUYH[LKº79:)»PZTVYL]\SULYHISL[VUVUWH`TLU[[OHUVISPNH[PVUZYH[LKº79:)H»I\[[OLVISPNVYJ\YYLU[SÒHZ[OL
JHWHJP[`[VTLL[P[ZÄUHUJPHSJVTTP[TLU[VU[OLVISPNH[PVU(K]LYZLLJVUVTPJJVUKP[PVUZ^PSSSPRLS`PTWHPY[OLVISPNVY»ZJHWHJP[`[VTLL[P[Z
ÄUHUJPHSJVTTP[TLU[VU[OLVISPNH[PVU;OLPZZ\LPZJOHYHJ[LYPaLKIÒPNOJYLKP[YPZR
79:*HH¶(UVISPNH[PVUYH[LKº79:*HH»PZWYLZLU[S`]\SULYHISL[VUVUWH`TLU[HUKPZKLWLUKLU[\WVUMH]VYHISLI\ZPULZZÄUHUJPHSHUK
LJVUVTPJJVUKP[PVUZMVY[OLVISPNVY[VTLL[P[ZÄUHUJPHSJVTTP[TLU[ZVU[OLVISPNH[PVU0U[OLL]LU[VMHK]LYZLLJVUVTPJJVUKP[PVUZ[OL
VISPNVYPZUV[SPRLS`[VOH]L[OLJHWHJP[`[VTLL[P[ZÄUHUJPHSJVTTP[TLU[VU[OLVISPNH[PVU;OLPZZ\LPZJVUZPKLYLK[VILVMWVVYZ[HUKPUN
HUKPZZ\IQLJ[[V]LYÒPNOJYLKP[YPZR
79:*H¶(UVISPNH[PVUYH[LK¸79:*H¹PZWYLZLU[SÒPNOS`]\SULYHISL[VUVUWH`TLU[3PRLS`HSYLHK`PUVY]LYÙLHYKLMH\S[^P[OZVTLWYVZWLJ[
MVYWHY[PHSYLJV]LY`VMWYPUJPWHSVYPU[LYLZ[
79:*¶(UVISPNH[PVUPZHSYLHK`PUKLMH\S[^P[O]LY`SP[[SLWYVZWLJ[MVYHU`YLJV]LY`VMWYPUJPWHSVYPU[LYLZ[
-VYJV\U[LYWHY[ÌHURZ^P[OUVL_[LYUHSYH[PUNI\[YH[LK\UKLY[OL)HUR»*HTLSV[9H[PUN:`Z[LT[OLMVSSV^PUNNYV\WPUN^HZHWWSPLK!
Credit Quality Rating Camelot Rating

/PNONYHKL ((()))
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9H[PUN+LZJYPW[PVU
High Grade
(¶,_JLW[PVUHS)HUR^P[OZ[YVUNI\ZPULZZMYHUJOPZLÄUHUJPHSZHUKWYVZWLJ[Z
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Standard Grade
*¶)HUR^P[OHKLX\H[LM\UKHTLU[HSZ"ZVTLHZWLJ[ZYHPZLJVUJLYUZ[OH[WYL]LU[P[MYVTHJOPL]PUNHOPNOLYYH[PUN
:\IZ[HUKHYK.YHKL
+¶)HUR^P[O^LHRULZZLZ"JHWHIPSP[`HIPSP[`[VYLZVS]LZ\JO^LHRULZZLZPZW\[PU[VX\LZ[PVU
,¶)HUR^P[O]LY`ZLYPV\ZWYVISLTZULNH[P]LM\UKHTLU[HSZ
-VYJVYWVYH[LPZZ\LYZ^P[OUVL_[LYUHSYH[PUNI\[HYLYH[LK\UKLY[OL)HUR»Z0*99:[OLNYV\WPUN\ZLKMVYJVYWVYH[LIVYYV^LYZ^PSSHWWS`
LќLJ[P]LHZVM+LJLTILY;OPZJOHUNLPU[OLKL[LYTPUH[PVUVM[OLJH[LNVY`MVYPU[LYUHSS`YH[LKJV\U[LYWHY[PLZKPKUV[YLZ\S[[VHU`
JOHUNLPU[OLJSHZZPÄJH[PVU/V^L]LYMVYPM^LHWWS`[OLZHTL[OLWLYJLU[HNLVM/PNO.YHKLL_WVZ\YLZMVY[OL7HYLU[)HUR^PSS
PUJYLHZLMYVT[V^P[OHJVYYLZWVUKPUNKLJYLHZLPU:[HUKHYK.YHKLL_WVZ\YLZMYVT[V

;OLZ\JJLLKPUN[HISLZZOV^[OLJYLKP[L_WVZ\YLVM[OL.YV\WHUK[OL7HYLU[*VTWHU`YLSH[LK[V[OLZLÄUHUJPHSHZZL[ZHTV\U[ZPUTPSSPVUZ
Consolidated 2021

ECL Staging
Stage 1 Stage 2 Stage 3 :[HNL :[HNL :[HNL
Investment securities 12-month Lifetime Lifetime TVU[O 3PML[PTL 3PML[PTL
at amortized cost ECL ECL ECL Total ,*3 ,*3 ,*3 Total
/PNONYHKL P48,678 P– P– P48,678 P P– P– P
:[HUKHYKNYHKL 170,149 3,033 – 173,182 – –
:\I:[HUKHYK 14,584 533 – 15,117 – –
<UYH[LK – – – – – –
Past due but not impaired – – – – – – – –
Impaired – – 3,947 3,947 – –
.YVZZJHYY`PUNHTV\U[ P233,411 P3,566 P3,947 P240,924 P P– P P
Consolidated 2021

ECL Staging
Financial assets at FVOCI (debt 12-month Lifetime Lifetime TVU[O 3PML[PTL 3PML[PTL
securities) ECL ECL ECL Total ,*3 ,*3 ,*3 Total
/PNONYHKL P184 P– P– P184 P P– P– P
:[HUKHYKNYHKL 25,892 408 – 26,300 – –
:\I:[HUKHYK 1,534 – – 1,534 – –
<UYH[LK 1 – – 1 1 – – 1
Impaired – – – – – – – –
.YVZZJHYY`PUNHTV\U[ P27,611 P408 P– P28,019 P P– P– P
Parent Company 2021

ECL Staging
Investment securities at 12-month Lifetime Lifetime TVU[O 3PML[PTL 3PML[PTL
amortized cost ECL ECL ECL Total ,*3 ,*3 ,*3 Total
/PNONYHKL P48,150 P– P– P48,150 P P– P– P
:[HUKHYKNYHKL 165,062 3,033 – 168,095 – –
:\I:[HUKHYK 14,584 533 – 15,117 – –
<UYH[LK – – – – – – – –
Impaired – – 3,632 3,632 – –
.YVZZJHYY`PUNHTV\U[ P227,796 P3,566 P3,632 P234,994 P P– P P
Parent Company 2021
ECL Staging
Financial assets at FVOCI 12-month Lifetime Lifetime TVU[O 3PML[PTL 3PML[PTL
(debt securities) ECL ECL ECL Total ,*3 ,*3 ,*3 Total
/PNONYHKL P– P– P– P– P P– P– P
:[HUKHYKNYHKL 23,961 404 – 24,365 – –
:\I:[HUKHYK 1,534 – – 1,534 – –
<UYH[LK 1 – – 1 1 – – 1
Impaired – – – – – – – –
.YVZZJHYY`PUNHTV\U[ P25,496 P404 P– P25,900 P P– P– P
Consolidated 2021
High Standard Substandard
Grade Grade Grade Unrated Total
+\LMYVT):7 P– 124,283 P– P– P124,283
+\LMYVTV[OLYIHURZ 1,147 9,528 19 – 10,694
0U[LYIHURSVHUZYLJLP]HISLHUK:7<9( 14,746 21,813 – – 36,559
-PUHUJPHSHZZL[ZH[-=;73 2,193 4,144 717 156 7,210
P18,086 P159,768 P736 P156 P178,746
Parent Company 2021

High Standard Substandard
Grade Grade Grade Unrated Total
+\LMYVT):7 PĚ 114,529 PĚ PĚ P114,529
+\LMYVTV[OLYIHURZ 1,049 8,829 19 Ě 9,897
0U[LYIHURSVHUZYLJLP]HISLHUK:7<9( 14,746 20,285 – – 35,031
-PUHUJPHSHZZL[ZH[-=;73 441 4,144 717 156 5,458
P16,236 P147,787 P736 P156 P164,915
Consolidated
/PNO :[HUKHYK :\IZ[HUKHYK
.YHKL .YHKL .YHKL <UYH[LK Total
+\LMYVT):7 Pò P Pò Pò P
+\LMYVTV[OLYIHURZ ò
0U[LYIHURSVHUZYLJLP]HISLHUK:7<9( ò ò
P P P P P
Parent Company

/PNO :[HUKHYK :\IZ[HUKHYK
.YHKL .YHKL .YHKL <UYH[LK Total
+\LMYVT):7 Pò P Pò Pò P
+\LMYVTV[OLYIHURZ ò
0U[LYIHURSVHUZYLJLP]HISLHUK:7<9( ò ò
-PUHUJPHSHZZL[ZH[-=;73 ò
P P Pò P P

9LZ[Y\J[\YLK3VHUZ
;OLMVSSV^PUN[HISLWYLZLU[Z[OLJHYY`PUNHTV\U[VMYLZ[Y\J[\YLKSVHUZNYVZZVMHSSV^HUJLMVYPTWHPYTLU[HUKJYLKP[SVZZLZVM[OL.YV\WHUK
7HYLU[*VTWHU`HZVM+LJLTILYHUK!

2021 2021
3VHUZHUKHK]HUJLZ[VJ\Z[VTLYZ
Corporate and commercial lending P5,905,576 P P5,619,916 P
Consumer lending 1,447,356 1,446,431
;V[HSYLZ[Y\J[\YLKÄUHUJPHSHZZL[Z P7,352,932 P P7,066,347 P
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PUP[PHSYLJVNUP[PVU(JJVYKPUNS`[OL.YV\WJH[LNVYPaLZP[ZÄUHUJPHSHZZL[ZPU[V[OYLLJH[LNVYPLZ!Z[HNL¶ÄUHUJPHSHZZL[[OH[OHZUV[OHK
HZPNUPÄJHU[PUJYLHZLPUJYLKP[YPZR"Z[HNL¶ÄUHUJPHSHZZL[[OH[OHZOHKHZPNUPÄJHU[PUJYLHZLPUJYLKP[YPZR"HUKZ[HNL¶ÄUHUJPHSHZZL[
PUKLMH\S[
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JYLKP[YPZRYH[PUNOHZKLJSPULK>OLUHWWSPJHISL[OL.YV\WHSZVHWWSPLZHYLI\[[HISLWYLZ\TW[PVU[OH[[OLJYLKP[YPZRVUHÄUHUJPHSHZZL[OHZ
PUJYLHZLKZPNUPÄJHU[S`ZPUJLPUP[PHSYLJVNUP[PVUÔLUJVU[YHJ[\HSWH`TLU[ZHYLTVYL[OHUKH`ZWHZ[K\L
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IVYYV^LYZMVYKH`Z
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;OL.YV\W[OLUTLHZ\YLZ[OLJYLKP[SVZZHSSV^HUJLVUHÄUHUJPHSPUZ[Y\TLU[H[HUHTV\U[LX\HS[VTVU[OL_WLJ[LKJYLKP[SVZZLZMVY
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Exposure at Default (EAD)
;OL.YV\WKLÄULZ,(+HZ[OLWYPUJPWHSHUKPU[LYLZ[Z[OH[^V\SKUV[ILJVSSLJ[LKHZZ\TPUN[OLIVYYV^LYKLMH\S[ZK\YPUNHM\[\YLWVPU[PU
[PTL;OL.YV\WJVTW\[LZMVYHÄUHUJPHSHZZL[»Z,(+\ZPUN[OLL_WLJ[LKJVU[YHJ[\HSJHZOÅV^ZK\YPUN[OLJVU[YHJ[\HSSPMLVM[OLÄUHUJPHS
PUZ[Y\TLU[(ÄUHUJPHSHZZL[»Z,(+PZKLÄULKHZ[OLZ\TVM,(+MYVTWYPUJPWHSHUK,(+MYVTPU[LYLZ[
0UYLSH[PVU[V[OLTVKPÄJH[PVUVMSVHUZHUKYLJLP]HISLZZLL5V[L[OL.YV\W\[PSPaLK[OLYL]PZLKVYTVKPÄLKJHZOÅV^ZVMÄUHUJPHSHZZL[Z
HZ,(+PUJHSJ\SH[PUNHSSV^HUJLMVYJYLKP[SVZZLZ
Probability of default (PD)

;OL.YV\W\ZLZMVY^HYKSVVRPUN7+LZ[PTH[LZ[OH[HYL\UIPHZLKHUKWYVIHIPSP[`^LPNO[LK\ZPUNHYHUNLVMWVZZPISLV\[JVTLZ;OL7+
MVYLHJOPUKP]PK\HSPUZ[Y\TLU[PZTVKLSSLKIHZLKVUOPZ[VYPJHSKH[HHUKPZLZ[PTH[LKIHZLKVUJ\YYLU[THYRL[JVUKP[PVUZHUKYLHZVUHISL
HUKZ\WWVY[HISLPUMVYTH[PVUHIV\[M\[\YLLJVUVTPJJVUKP[PVUZ;OL.YV\WZLNTLU[LKP[ZJYLKP[L_WVZ\YLZIHZLKVUOVTVNLUV\ZYPZR
JOHYHJ[LYPZ[PJZ HUK KL]LSVWLK H JVYYLZWVUKPUN 7+ TL[OVKVSVN` MVY LHJO WVY[MVSPV ;OL 7+ TL[OVKVSVN` MVY LHJO YLSL]HU[ WVY[MVSPV PZ
KL[LYTPULKIHZLKVU[OL\UKLYS`PUNUH[\YLVYJOHYHJ[LYPZ[PJVM[OLWVY[MVSPVILOH]PVYVM[OLHJJV\U[ZHUKTH[LYPHSP[`VM[OLZLNTLU[HZ
JVTWHYLK[V[OL[V[HSWVY[MVSPV;OL.YV\W»Z7+ZHYLTHPUS`JH[LNVYPaLKPU[V[OYLL!HJVYWVYH[L"IZV]LYLPNU"HUKJYL[HPS
;OL7+Z\ZLKPUJHSJ\SH[PUNHSSV^HUJLMVYJYLKP[SVZZLZOH]LILLU\WKH[LK^P[OPUMVYTH[PVUHM[LYJVUZPKLYPUN[OLPTWHJ[VM[OLWHUKLTPJ[V
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Loss given default (LGD)

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HIV\[M\[\YLLJVUVTPJJVUKP[PVUZÔLYLHWWYVWYPH[L.LULYHSS`[OLTVKLS\[PSPaLZ[OL.YV\W»ZL_PZ[PUNSVHUL_WVZ\YLYH[PUNZ`Z[LTÔPJO
PZKLZPNULK[VJHW[\YL[OLZLMHJ[VYZHZ^LSSHZ[OLJOHYHJ[LYPZ[PJZVMJVSSH[LYHSZYLSH[LK[VHUL_WVZ\YL0UJHZLZÔLYLPU[OPZKVLZUV[HWWS`
[OL.YV\WSVVRZPU[V[OLZ[HUKHYKJOHYHJ[LYPZ[PJZVMJVSSH[LYHSZLNH\[VHUKOV\ZPUNSVHUZPUVYKLY[VLZ[PTH[LHU3.+MHJ[VY0U[OL
JHZLVML_WVZ\YLZ^P[OV\[JVSSH[LYHSZLNZLJ\YP[PLZ[OL.YV\W\ZLZPU[LYUH[PVUHSS`HJJLW[LKZ[HUKHYK3.+MHJ[VYZ(ZVM+LJLTILY
[OL.YV\WOHZ\WKH[LKHSSH]HPSHISLJVSSH[LYHSPUMVYTH[PVUPUVYKLY[VPUJVYWVYH[L[OLPTWHJ[VM[OLWHUKLTPJ[V[OLL_[LU[WVZZPISL
PUTLHZ\YPUN3.+
;OL .YV\W ^PSS JVU[PU\L [V HZZLZZ [OL J\YYLU[ THYRL[ JVUKP[PVUZ HUK MVYLJHZ[Z VM M\[\YL LJVUVTPJ JVUKP[PVUZ HUK P[Z PTWHJ[ [V [OL
HMVYLTLU[PVULKP[LTZPUVYKLY[V\WKH[L[OL,*3VUH[PTLSÌHZPZPU[OL\WJVTPUNYLWVY[PUNWLYPVKZHZ[OLJV\U[Y`JVU[PU\LZ[VKLHS^P[O
this public health crisis.
Credit Review
0UHJJVYKHUJL^P[O):7*PYJ\SHYJYLKP[YL]PL^ZHYLJVUK\J[LKVUSVHUHJJV\U[Z[VL]HS\H[LÔL[OLYSVHUZHYLNYHU[LKPUHJJVYKHUJL
^P[O[OL7HYLU[*VTWHU`»ZWVSPJPLZHUK[VHZZLZZSVHUX\HSP[`HUKHWWYVWYPH[LULZZVMJSHZZPÄJH[PVU
9LZ\S[ZVMJYLKP[YL]PL^ZHYLWYVTW[S`YLWVY[LK[VTHUHNLTLU[[VHWWYPZL[OLTVMHU`ZPNUPÄJHU[ÄUKPUNZMVYWYVWLYJVYYLJ[P]LHJ[PVUZ
Market Risk
4HYRL[YPZRPZ[OLYPZRVMSVZZ[OH[TH`YLZ\S[MYVTJOHUNLZPU[OL]HS\LVMHÄUHUJPHSWYVK\J[;OL7HYLU[*VTWHU`»ZTHYRL[YPZRVYPNPUH[LZ
MYVTP[ZOVSKPUNZVMKVTLZ[PJHUKMVYLPNUKLUVTPUH[LKKLI[ZLJ\YP[PLZMVYLPNUL_JOHUNLPUZ[Y\TLU[ZLX\P[PLZMVYLPNUL_JOHUNLKLYP]H[P]LZ
and interest rate derivatives.
;OL 94. VM [OL 7HYLU[ *VTWHU` PZ YLZWVUZPISL MVY HZZPZ[PUN [OL 96* ^P[O P[Z YLZWVUZPIPSP[` MVY PKLU[PM`PUN TLHZ\YPUN THUHNPUN HUK
JVU[YVSSPUNTHYRL[YPZR4HYRL[YPZRTHUHNLTLU[TLHZ\YLZ[OL7HYLU[*VTWHU`THYRL[YPZRL_WVZ\YLZ[OYV\NO[OL\ZLVM=H9=H9PZH
Z[H[PZ[PJHSTLHZ\YL[OH[LZ[PTH[LZ[OLTH_PT\TWV[LU[PHSSVZZMYVTHWVY[MVSPVV]LYHOVSKPUNWLYPVK^P[OPUHNP]LUJVUÄKLUJLSL]LS
VaR assumptions
;OL7HYLU[*VTWHU`JHSJ\SH[LZ[OL=H9PU[YHKPUNHJ[P]P[PLZ;OL7HYLU[*VTWHU`\ZLZ[OL/PZ[VYPJHS:PT\SH[PVU-\SS=HS\H[PVUHWWYVHJO[V
TLHZ\YL=H9MVYHSS[YLHZ\Y`[YHKLKPUZ[Y\TLU[Z\ZPUNH JVUÄKLUJLSL]LSHUKHòKHÒVSKPUNWLYPVK
;OL\ZLVMH JVUÄKLUJLSL]LSTLHUZ[OH[^P[OPUHVULKHÒVYPaVUSVZZLZL_JLLKPUN[OL=H9ÄN\YLZOV\SKVJJ\YVUH]LYHNLUV[

TVYL[OHUVUJLL]LYÒ\UKYLKKH`Z;OL]HSPKP[`VM[OL=H9TVKLSPZ]LYPÄLK[OYV\NOIHJR[LZ[PUNÔPJOL_HTPULZOV^MYLX\LU[S`HJ[\HS
HUKO`WV[OL[PJHSKHPS`SVZZLZL_JLLKZKHPS`=H9;OL7HYLU[*VTWHU`TLHZ\YLZHUKTVUP[VYZ[OL=H9HUKWYVÄ[HUKSVZZVUHKHPSÌHZPZ
:PUJL=H9PZHUPU[LNYHSWHY[VM[OL7HYLU[*VTWHU`»ZTHYRL[YPZRTHUHNLTLU[=H9SPTP[ZOH]LILLULZ[HISPZOLKMVYHSS[YHKPUNWVZP[PVUZHUK
L_WVZ\YLZHYLYL]PL^LKKHPS`HNHPUZ[[OLSPTP[ZI`THUHNLTLU[-\Y[OLYZ[YLZZ[LZ[PUNPZWLYMVYTLKMVYTVUP[VYPUNL_[YLTLL]LU[Z

Limitations of the VaR Methodology

;OL=H9TVKLSZHYLKLZPNULK[VTLHZ\YLTHYRL[YPZRPUHUVYTHSTHYRL[LU]PYVUTLU[\ZPUNLX\HSS`^LPNO[LKOPZ[VYPJHSKH[H;OL\ZLVM
=H9OHZSPTP[H[PVUZILJH\ZLP[PZIHZLKVUOPZ[VYPJHSJVYYLSH[PVUZHUK]VSH[PSP[PLZPUTHYRL[WYPJLZHUKHZZ\TLZ[OH[M\[\YLWYPJLTV]LTLU[Z
^PSSMVSSV^[OLZHTLKPZ[YPI\[PVU+\L[V[OLMHJ[[OH[=H9YLSPLZOLH]PS`VUOPZ[VYPJHSKH[H[VWYV]PKLPUMVYTH[PVUHUKTHÙV[JSLHYS`WYLKPJ[
[OLM\[\YLJOHUNLZHUKTVKPÄJH[PVUZVM[OLYPZRMHJ[VYZ[OLWYVIHIPSP[`VMSHYNLTHYRL[TV]LZTHÌL\UKLYLZ[PTH[LKPMJOHUNLZPUYPZR
MHJ[VYZMHPS[VHSPNU^P[O[OLHZZ\TW[PVUZ=H9TH`HSZVIL\UKLYVYV]LYLZ[PTH[LKK\L[V[OLHZZ\TW[PVUZWSHJLKVUYPZRMHJ[VYZHUK[OL
YLSH[PVUZOPWIL[^LLUZ\JOMHJ[VYZMVYZWLJPÄJPUZ[Y\TLU[Z,]LU[OV\NOWVZP[PVUZTH`JOHUNL[OYV\NOV\[[OLKH`[OL=H9VUS`YLWYLZLU[Z
[OLYPZRVM[OLWVY[MVSPVZ H[ [OLJSVZL VM LHJOI\ZPULZZ KH` HUK P[ KVLZUV[ HJJV\U[MVY HU` SVZZLZ[OH[ TH`VJJ\Y IL`VUK[OL
JVUÄKLUJLSL]LS
0UWYHJ[PJL[OLHJ[\HS[YHKPUNYLZ\S[Z^PSSKPќLYMYVT[OL=H9JHSJ\SH[PVUHUKPUWHY[PJ\SHY[OLJHSJ\SH[PVUKVLZUV[WYV]PKLHTLHUPUNM\S
PUKPJH[PVUVMWYVÄ[ZHUKSVZZLZPUZ[YLZZLKTHYRL[JVUKP[PVUZ;VKL[LYTPUL[OLYLSPHIPSP[`VM[OL=H9TVKLSZHJ[\HSV\[JVTLZHYLTVUP[VYLK
YLN\SHYS`[V[LZ[[OL]HSPKP[`VM[OLHZZ\TW[PVUZHUK[OLWHYHTL[LYZ\ZLKPU[OL=H9JHSJ\SH[PVU4HYRL[YPZRWVZP[PVUZHYLHSZVZ\IQLJ[[V
YLN\SHYZ[YLZZ[LZ[Z[VLUZ\YL[OH[[OL.YV\W^V\SK^P[OZ[HUKHUL_[YLTLTHYRL[L]LU[
(Z\TTHY`VM[OL=H9WVZP[PVUVM[OL[YHKPUNWVY[MVSPVVM[OL7HYLU[*VTWHU`PZHZMVSSV^Z!
-VYLPNU
0U[LYLZ[9H[L1 ,_JOHUNL Price 0U[LYLZ[9H[L 0U[LYLZ[9H[L
0U4PSSPVUZ
2021
+LJLTILY P18.55 P10.97 P18.30 P3.23 P2.37
(]LYHNLKHPS` 62.04 23.11 20.95 4.31 3.20
/PNOLZ[ 170.46 84.61 31.23 8.54 12.44
3V^LZ[ 6.44 2.47 7.61 1.16 1.26

+LJLTILY P P P P P
(]LYHNLKHPS`
/PNOLZ[
3V^LZ[
1
0U[LYLZ[YH[L=H9MVYKLI[ZLJ\YP[PLZ0U[LYLZ[YH[L=H9MVYMVYLPNUJ\YYLUJ`KLUVTPUH[LKKLI[ZLJ\YP[PLZHYL[YHUZSH[LK[V7/7\ZPUNKHPS` JSVZPUNYH[L

-?=H9PZ[OLIHUR^PKLMVYLPNUL_JOHUNLYPZR

7YPJL=H9MVYLX\P[`ZLJ\YP[PLZHUKM\[\YLZ

0U[LYLZ[YH[L=H9MVY-?Z^HWZHUK-?MVY^HYKZ

0U[LYLZ[YH[L=H9MVY09:
Interest Rate Risk

;OL.YV\W»ZPU[LYLZ[YH[LYPZRVYPNPUH[LZMYVTP[ZOVSKPUNZVMPU[LYLZ[YH[LZLUZP[P]LHZZL[ZHUKPU[LYLZ[YH[LZLUZP[P]LSPHIPSP[PLZ;OL7HYLU[
*VTWHU`MVSSV^ZWY\KLU[WVSPJPLZPUTHUHNPUNP[ZL_WVZ\YLZ[VPU[LYLZ[YH[LÅ\J[\H[PVUZHUKJVUZ[HU[S`TVUP[VYZHUKKPZJ\ZZLZP[ZL_WVZ\YL
PU(ZZL[HUK3PHIPSP[`*VTTP[[LL(3*6TLL[PUNZOLSKL]LY`^LLR
(ZVM+LJLTILYHUK HUKVM[OL.YV\W»Z[V[HSSVHUWVY[MVSPVYLZWLJ[P]LS`JVTWYPZLKVMÅVH[PUNYH[LSVHUZ

ÔPJOHYLYLWYPJLKWLYPVKPJHSSÌ`YLMLYLUJL[V[OL[YHUZMLYWVVSYH[LÔPJOYLÅLJ[Z[OL.YV\W»ZPU[LYUHSJVZ[VMM\UKZ(ZVM+LJLTILY
HUKHUKVM[OL7HYLU[»Z[V[HSSVHUWVY[MVSPVYLZWLJ[P]LS`^LYLZ\IQLJ[[VPU[LYLZ[YLWYPJPUN(ZVM+LJLTILY
HUK HUKVM[OL:\IZPKPHY`»Z[V[HSSVHUWVY[MVSPVYLZWLJ[P]LS`^LYLZ\IQLJ[[VWLYPVKPJPU[LYLZ[YLWYPJPUN0URLLWPUN^P[O
IHURPUNPUK\Z[Y`WYHJ[PJL[OL.YV\WHPTZ[VHJOPL]LZ[HIPSP[`HUKSLUN[OLU[OL[LYTZ[Y\J[\YLVMP[ZKLWVZP[IHZLÔPSLWYV]PKPUNHKLX\H[L
SPX\PKP[`[VJV]LY[YHUZHJ[PVUHSIHURPUNYLX\PYLTLU[ZVMJ\Z[VTLYZ
0U[LYLZ[ PZ WHPK VU KLTHUK HJJV\U[Z ÔPJO JVUZ[P[\[LK HUK VM [OL [V[HS KLWVZP[Z HZ VM +LJLTILY HUK
YLZWLJ[P]LS`MVY[OL.YV\WHUK HUK VM[OL[V[HSKLWVZP[ZHZVM+LJLTILYHUKYLZWLJ[P]LS`MVY[OL
Parent Company.
0U[LYLZ[PZWHPKVUZH]PUNZHJJV\U[ZHUK[PTLKLWVZP[ZHJJV\U[ZÔPJOJVUZ[P[\[LHUKYLZWLJ[P]LS`VM[OL.YV\W»Z[V[HS
KLWVZP[ZHUKHUKYLZWLJ[P]LS`VM[OL7HYLU[*VTWHU`»Z[V[HSKLWVZP[ZYLZWLJ[P]LS`HZVM+LJLTILYHUK
HUK YLZWLJ[P]LS` VM [OL .YV\W»Z [V[HS KLWVZP[Z HUK HUK YLZWLJ[P]LS` VM [OL 7HYLU[ *VTWHU`»Z [V[HS KLWVZP[Z
YLZWLJP[P]LS`HZVM+LJLTILY
:H]PUNZ HJJV\U[ PU[LYLZ[ YH[LZ HYL ZL[ I` YLMLYLUJL [V WYL]HPSPUN THYRL[ YH[LZ ÔPSL PU[LYLZ[ YH[LZ VU [PTL KLWVZP[Z HUK ZWLJPHS ZH]PUNZ
HJJV\U[ZHYL\Z\HSS`WYPJLKI`YLMLYLUJL[VWYL]HPSPUNYH[LZVMZOVY[[LYTNV]LYUTLU[IVUKZHUKV[OLYTVUL`THYRL[PUZ[Y\TLU[ZVYPU[OL
JHZLVMMVYLPNUJ\YYLUJ`KLWVZP[ZPU[LYIHURKLWVZP[YH[LZHUKV[OLYILUJOTHYRKLWVZP[YH[LZPUPU[LYUH[PVUHSTVUL`THYRL[Z^P[OZPTPSHY
maturities.
;OL.YV\WPZSPRL^PZLL_WVZLK[VMHPY]HS\LPU[LYLZ[YH[LYPZRK\L[VP[ZOVSKPUNZVMÄ_LKYH[LNV]LYUTLU[IVUKZHZWHY[VMP[ZÄUHUJPHSHZZL[Z
H[-=6*0HUK-=;73WVY[MVSPVZ4HYRL[]HS\LZVM[OLZLPU]LZ[TLU[ZHYLZLUZP[P]L[VÅ\J[\H[PVUZPUPU[LYLZ[YH[LZ;OLMVSSV^PUN[HISLWYV]PKLZ
MVY[OLH]LYHNLLќLJ[P]LPU[LYLZ[YH[LZVM[OL.YV\WHUKVM[OL7HYLU[*VTWHU`HZVM+LJLTILYHUK!

2021 2021
Peso
Assets
+\LMYVT):7 0.79% 0.75%
+\LMYVTIHURZ 0.15% 0.06%
0U[LYIHUR3VHUZ9LJLP]HISLHUK:7<9( 1.91% 1.91%
Investment securities* 4.58% 4.62%
3VHUZHUKYLJLP]HISLZ 6.04% 5.82%
Liabilities
+LWVZP[SPHIPSP[PLZ 0.68% 0.63%
Bills payable 3.50% 3.50%
Bonds payable 3.02% 3.02%
USD
(ZZL[Z
+\LMYVTIHURZ 0.02% 0.02%
0U[LYIHUR3VHUZ9LJLP]HISLHUK
0.05% 0.05%
:7<9(
Investment securities* 3.79% 3.81%
3VHUZHUKYLJLP]HISLZ 3.76% 3.77%
Liabilities
+LWVZP[SPHIPSP[PLZ 0.31% 0.31%
Bills payable 3.10% 3.10%
Bonds payable 1.70% 1.70%
*VUZPZ[PUNVMÄUHUJPHSHZZL[ZH[-=;73-PUHUJPHSHZZL[ZH[-=6*0HUK0U]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[
;OLYLWYPJPUNNHWHUHS`ZPZTL[OVKPZ\ZLKI`[OL.YV\W[VTLHZ\YL[OLZLUZP[P]P[`VMP[ZHZZL[ZHUKSPHIPSP[PLZ[VPU[LYLZ[YH[LÅ\J[\H[PVUZ;OPZ
HUHS`ZPZTLHZ\YLZ[OL.YV\W»ZZ\ZJLW[PIPSP[`[VJOHUNLZPUPU[LYLZ[YH[LZ;OLYLWYPJPUNNHWPZJHSJ\SH[LKI`ÄYZ[KPZ[YPI\[PUN[OLHZZL[ZHUK
SPHIPSP[PLZJVU[HPULKPU[OL.YV\W»ZIHSHUJLZOLL[PU[V[LUVYI\JRL[ZHJJVYKPUN[V[OL[PTLYLTHPUPUN[V[OLUL_[YLWYPJPUNKH[LVY[OL[PTL
YLTHPUPUN[VTH[\YP[`PM[OLYLPZUVYLWYPJPUNHUK[OLUVI[HPUPUN[OLKPќLYLUJLIL[^LLU[OL[V[HSVM[OLYLWYPJPUNPU[LYLZ[YH[LZLUZP[P]LHZZL[Z
HUK[OL[V[HSVMYLWYPJPUNPU[LYLZ[YH[LZLUZP[P]LSPHIPSP[PLZ

(NHWPZJVUZPKLYLKULNH[P]LÔLU[OLHTV\U[VMPU[LYLZ[YH[LZLUZP[P]LSPHIPSP[PLZL_JLLKZ[OLHTV\U[VMPU[LYLZ[YH[LZLUZP[P]LHZZL[Z(NHW
PZJVUZPKLYLKWVZP[P]LÔLU[OLHTV\U[VMPU[LYLZ[YH[LZLUZP[P]LHZZL[ZL_JLLKZ[OLHTV\U[VMPU[LYLZ[YH[LZLUZP[P]LSPHIPSP[PLZ
(JJVYKPUNS`K\YPUNHWLYPVKVMYPZPUNPU[LYLZ[YH[LZHIHUR^P[OHWVZP[P]LNHW^V\SKILPUHWVZP[PVU[VPU]LZ[PUOPNOLY`PLSKPUNHZZL[ZLHYSPLY
[OHUP[^V\SKULLK[VYLÄUHUJLP[ZPU[LYLZ[YH[LZLUZP[P]LSPHIPSP[PLZ+\YPUNHWLYPVKVMMHSSPUNPU[LYLZ[YH[LZHIHUR^P[OHWVZP[P]LNHW^V\SK
[LUK[VZLLP[ZPU[LYLZ[YH[LZLUZP[P]LHZZL[ZYLWYPJPUNLHYSPLY[OHUP[ZPU[LYLZ[YH[LZLUZP[P]LSPHIPSP[PLZYLZ[YHPUPUN[OLNYV^[OVMP[ZUL[PUJVTLVY
resulting in a decline in net interest income.
;OLMVSSV^PUN[HISLZZL[MVY[O[OLYLWYPJPUNNHWWVZP[PVUVM[OL.YV\WHUK7HYLU[*VTWHU`HZVM+LJLTILYHUKPUTPSSPVUZ!
Consolidated
2021
Up to 3 >3 to 12 >12 <W[V %[V %
Months Months Months Total 4VU[OZ 4VU[OZ 4VU[OZ Total
Financial Assets
+\LMYVT):7 P121,878 P– P2,405 P124,283 P P– P P
+\LMYVTV[OLYIHURZ 10,694 – – 10,694 – –
0U[LYIHUR3VHUZ9LJLP]HISL
HUK:7<9( 36,559 – – 36,559 – –
Investment securities 11,610 17,754 248,871 278,235
3VHUZHUKYLJLP]HISLZ 231,377 122,731 254,898 609,006
7RWDOðQDQFLDODVVHWV 412,118 140,485 506,174 1,058,777
+LWVZP[SPHIPSP[PLZ 236,102 48,919 577,839 862,860
Bills payable 33,253 20,041 12,512 65,806
Bonds payable – 22,474 20,000 42,474
7RWDOðQDQFLDOOLDELOLWLHV 269,355 91,434 610,351 971,140
09:/LKNL9LJLP]L 56,099 7,650 – 63,749 – –
09:/LKNL7H` – – 63,749 63,749 – –
Repricing gap P198,862 P56,701 (P167,926) P87,637 P P (P P
Parent Company
2021
Up to 3 >3 to 12 >12 <W[V %[V %
Months Months Months Total 4VU[OZ 4VU[OZ 4VU[OZ Total
Financial Assets
+\LMYVT):7 P114,529 P– P– P114,529 P P– P– P
+\LMYVTV[OLYIHURZ 9,897 – – 9,897 – –
0U[LYIHUR3VHUZ9LJLP]HISL
HUK:7<9( 35,031 – – 35,031 – –
Investment securities 8,728 15,849 243,752 268,329
3VHUZHUKYLJLP]HISLZ 226,674 92,282 225,215 544,171
7RWDOðQDQFLDODVVHWV 394,859 108,131 468,967 971,957
+LWVZP[SPHIPSP[PLZ 218,115 40,618 523,485 782,218
Bills payable 33,253 20,041 12,512 65,806
Bonds payable – 22,474 20,000 42,474
7RWDOðQDQFLDOOLDELOLWLHV 251,368 83,133 555,997 890,498
09:/LKNL9LJLP]L 56,099 7,650 – 63,749 – –
09:/LKNL7H` – – 63,749 63,749 – –
Repricing gap P199,590 P32,648 (P150,779) P81,459 P P (P P
;OL.YV\WTVUP[VYZP[ZL_WVZ\YL[VÅ\J[\H[PVUZPUPU[LYLZ[YH[LZI`\ZPUNZJLUHYPVHUHS`ZPZ[VLZ[PTH[L[OLPTWHJ[VMPU[LYLZ[YH[LTV]LTLU[Z
VUP[ZPU[LYLZ[PUJVTL;OPZPZKVULI`TVKLSPUN[OLPTWHJ[[V[OL.YV\W»ZPU[LYLZ[PUJVTLHUKPU[LYLZ[L_WLUZLZ[VWHYHSSLSJOHUNLZPU[OL
PU[LYLZ[YH[LJ\Y]LPUHNP]LUTVU[OWLYPVK0U[LYLZ[YH[LYPZRL_WVZ\YLPZTHUHNLK[OYV\NOHWWYV]LKSPTP[Z
;OLMVSSV^PUN[HISLZZL[MVY[O[OLLZ[PTH[LKJOHUNLPU[OL.YV\W»ZHUK7HYLU[*VTWHU`»ZHUU\HSPaLKUL[PU[LYLZ[PUJVTLK\L[VHWHYHSSLS
JOHUNLPU[OLPU[LYLZ[YH[LJ\Y]LHZVM+LJLTILYHUK!
Consolidated
2021
Change in interest rates (in basis points)
100bp rise 50bp rise 50bp fall 100bp fall
*OHUNLPUHUU\HSPaLKUL[PU[LYLZ[PUJVTL 2,414 1,207 (P1,207) (P2,414)
(ZHWLYJLU[HNLVM[OL.YV\W»ZUL[PU[LYLZ[PUJVTL
MVY[OL`LHYLUKLK+LJLTILY 6.30% 3.15% (3.15%) (6.30%)
Consolidated

IWYPZL IWYPZL IWMHSS IWMHSS
*OHUNLPUHUU\HSPaLKUL[PU[LYLZ[PUJVTL P P (P (P
(ZHWLYJLU[HNLVM[OL.YV\W»ZUL[PU[LYLZ[PUJVTL
MVY[OL`LHYLUKLK+LJLTILY
Parent Company
2021
*OHUNLPUHUU\HSPaLKUL[PU[LYLZ[PUJVTL 2,241 1,120 (P1,120) (P2,241)

(ZHWLYJLU[HNLVM[OL7HYLU[*VTWHU`»ZUL[
PU[LYLZ[PUJVTLMVY[OL`LHYLUKLK
+LJLTILY 5.85% 2.92% (2.92%) (5.85%)
Parent Company

*OHUNLPUHUU\HSPaLKUL[PU[LYLZ[PUJVTL P P (P (P
(ZHWLYJLU[HNLVM[OL7HYLU[*VTWHU`»ZUL[
PU[LYLZ[PUJVTLMVY[OL`LHYLUKLK
+LJLTILY

;OLMVSSV^PUN[HISLZZL[MVY[O[OLLZ[PTH[LKJOHUNLPU[OL.YV\W»ZHUK7HYLU[*VTWHU`»ZPUJVTLILMVYL[H_HUKLX\P[`K\L[VHYLHZVUHIS`
WVZZPISLJOHUNLPU[OLTHYRL[WYPJLZVMX\V[LKIVUKZJSHZZPÄLK\UKLYÄUHUJPHSHZZL[ZH[-=;73HUKÄUHUJPHSHZZL[ZH[-=6*0IYV\NO[HIV\[
I`TV]LTLU[PU[OLPU[LYLZ[YH[LJ\Y]LHZVM+LJLTILYHUKPUTPSSPVUZ!
Consolidated
2021
*OHUNLPUPUJVTLILMVYL[H_ (P25) (P10) P10 P25
Change in equity (287) (115) 115 287
Consolidated

*OHUNLPUPUJVTLILMVYL[H_ (P99) (P P P99
Change in equity
Parent Company
2021
*OHUNLPUPUJVTLILMVYL[H_ (25) (10) 10 25
Change in equity (266) (107) 107 266
Parent Company

*OHUNLPUPUJVTLILMVYL[H_ (P99) (P P P99
Change in equity
Foreign Currency Risk

;OL.YV\W»ZMVYLPNUL_JOHUNLYPZRVYPNPUH[LZMYVTP[ZOVSKPUNZVMMVYLPNUJ\YYLUJ`KLUVTPUH[LKHZZL[ZMVYLPNUL_JOHUNLHZZL[ZHUKMVYLPNU
J\YYLUJ`KLUVTPUH[LKSPHIPSP[PLZMVYLPNUL_JOHUNLSPHIPSP[PLZ
-VYLPNUL_JOHUNLSPHIPSP[PLZNLULYHSS`JVUZPZ[VMMVYLPNUJ\YYLUJ`KLUVTPUH[LKKLWVZP[ZPU[OL.YV\W»Z-*+<HJJV\U[THKLPU[OL7OPSPWWPULZ
VYNLULYH[LKMYVTYLTP[[HUJLZ[V[OL7OPSPWWPULZI`WLYZVUZV]LYZLHZÔVYL[HPUMVY[OLPYVÛILULÄ[VYMVY[OLILULÄ[VMH[OPYKWHY[`MVYLPNU
J\YYLUJ`KLWVZP[HJJV\U[Z^P[O[OL.YV\W
-VYLPNU J\YYLUJ` SPHIPSP[PLZ HYL NLULYHSS` \ZLK [V M\UK [OL .YV\W»Z MVYLPNU L_JOHUNL HZZL[Z ÔPJO NLULYHSS` JVUZPZ[ VM MVYLPNU J\YYLUJ`
KLUVTPUH[LKSVHUZHUKPU]LZ[TLU[ZPU[OL-*+<)HURZHYLYLX\PYLKI`[OL):7[VTH[JO[OLMVYLPNUJ\YYLUJ`KLUVTPUH[LKHZZL[Z^P[O
SPHIPSP[PLZOLSKPU[OL-*+<[OH[HYLKLUVTPUH[LKPU[OLZHTLMVYLPNUJ\YYLUJ`
;OL.YV\W»ZWVSPJ`PZ[VTHPU[HPUMVYLPNUJ\YYLUJ`L_WVZ\YL^P[OPUL_PZ[PUNYLN\SH[PVUZHUK^P[OPUHJJLW[HISLYPZRSPTP[Z;OL.YV\WILSPL]LZ
PULUZ\YPUNP[ZMVYLPNUJ\YYLUJ`PZH[HSS[PTLZ^P[OPUSPTP[ZWYLZJYPILKMVYÄUHUJPHSPUZ[P[\[PVUZÔVHYLLUNHNLKPU[OLZHTL[`WLZVMI\ZPULZZLZ
PUÔPJO[OL.YV\WHUKP[ZZ\IZPKPHYPLZHYLLUNHNLK
;OL[HISLILSV^Z\TTHYPaLZ[OL.YV\W»ZHUK7HYLU[*VTWHU`»ZL_WVZ\YL[VMVYLPNUL_JOHUNLYPZRL_JS\KPUN[OLHZZL[ZHUKSPHIPSP[PLZ\UKLY
-*+<ÔPJOHYLKLUVTPUH[LKPU<:+VSSHYZ0UJS\KLKPU[OL[HISLHYL[OL.YV\W»ZHUK7HYLU[*VTWHU`»ZHZZL[ZHUKSPHIPSP[PLZH[JHYY`PUN
HTV\U[ZZ[H[LKPU<:+VSSHYZJH[LNVYPaLKI`J\YYLUJ`^P[OP[Z7/7LX\P]HSLU[!
Consolidated
2021
Other 6[OLY
USD Currencies* Total in USD PHP <:+ Currencies* ;V[HSPU<:+ 7/7
Assets
Cash and other cash items $3,116 $2,673 $5,789 P295,222 P
+\LMYVTV[OLYIHURs 49,402 8,560 57,962 2,956,018
-PUHUJPHSHZZL[ZH[-=;73 109 1 110 5,593 –
-PUHUJPHSHZZL[ZH[-=6*0 15,163 2,304 17,468 890,826
Investment securities at
HTVY[PaLKJVZ[ 27,777 29,341 57,118 2,912,954
3VHUZHUKYLJLP]HISLZ 43,866 35,800 79,666 4,062,902
(JJY\LKPU[LYLZ[YLJLP]HISL 695 272 967 49,329
6[OLYHZZL[Z 34,051 3 34,053 1,736,677
174,179 78,954 253,133 12,909,521
Liabilities
+LWVZP[SPHIPSP[PLZ 58,593 22,964 81,557 4,159,311
Bills payables 445,967 – 445,967 22,743,874 –
(JJY\LKPU[LYLZ[HUKV[OLY
expenses 174 1 175 8,936 1
6[OLYSPHIPSP[PLZ 30,213 1,289 31,502 1,606,550
534,947 24,254 559,201 28,518,671
Currency spot (5,118) (1,886) (7,004) (357,211) –
*\YYLUJ`MVY^HYKZ 353,105 (53,177) 299,928 15,296,007
5L[,_WVZ\YL ($12,781) ($363) ($13,144) (P670,354) P
6[OLYJ\YYLUJPLZPUJS\KL,<9*5@17@.)7(<+:.+*/-*(+5A+(,+/2+

Parent Company
2021
Other 6[OLY
USD Currencies* Total in USD PHP <:+ Currencies* ;V[HSPU<:+ 7/7
Assets
Cash and other cash items $69 $2,673 $2,742 P139,816 P
+\LMYVTV[OLYIHURZ 41,317 8,560 49,877 2,543,685
-PUHUJPHSHZZL[ZH[-=;73 109 1 110 5,593 –
-PUHUJPHSHZZL[ZH[-=6*0 - 2,304 2,304 117,526 –
HTVY[PaLKJVZ[ - 29,341 29,341 1,496,363 –
3VHUZHUKYLJLP]HISLZ 37,634 35,800 73,434 3,745,077
(JJY\LKPU[LYLZ[YLJLP]HISL 65 272 337 17,203
6[OLYHZZL[Z 34,023 3 34,025 1,735,250
113,217 78,954 192,170 9,800,513
Liabilities
+LWVZP[SPHIPSP[PLZ 12 22,964 22,976 1,171,758 189
Bills payables 445,967 - 445,967 22,743,874 –
(JJY\LKPU[LYLZ[HUKV[OLY
expenses 164 1 165 8,432 1
6[OLYSPHIPSP[PLZ 29,306 1,289 30,595 1,560,317
475,449 24,254 499,703 25,484,381
Currency spot (5,118) (1,886) (7,004) (357,211) –
*\YYLUJ`MVY^HYKZ 353,105 (53,177) 299,928 15,926,007
5L[,_WVZ\YL ($14,245) ($363) ($14,609) (P115,072) P
6[OLYJ\YYLUJPLZPUJS\KL,<9*5@17@.)7(<+:.+*/-*(+5A+(,+/2+
;OLMVSSV^PUN[HISLZL[ZMVY[OMVY[OLWLYPVKPUKPJH[LK[OLPTWHJ[VM[OLYHUNLVMYLHZVUHIS`WVZZPISLJOHUNLZPU[OL<:L_JOHUNLYH[LHUK
other currencies per Philippine peso on the pre-tax income and equity (in millions).
Consolidated
2021
Change in
Foreign Sensitivity of Sensitivity of :LUZP[P]P[`VM :LUZP[P]P[`VM
Exchange Rate Pretax Income Equity Pretax Income ,X\P[`
USD 1% P13 P165 P P98
Other 1% – 1 – 1
USD (1%) (13) (165) (98)
Other (1%) – (1) – (1)
Parent Company
2021
Change in
Foreign Sensitivity of Sensitivity of :LUZP[P]P[`VM :LUZP[P]P[`VM
Exchange Rate Pretax Income Equity Pretax Income ,X\P[`
<:+ 1% P13 P157 P P
6[OLY 1% – 1 – 1
<:+ (1%) (13) (157)
6[OLY (1%) – (1) – (1)
;OLPTWHJ[PUWYL[H_PUJVTLHUKLX\P[`PZK\L[V[OLLќLJ[VMMVYLPNUJ\YYLUJÌLOH]PV\Y[V7OPSPWWPULWLZV
Equity Price Risk

,X\P[`WYPJLYPZRPZ[OLYPZR[OH[[OLMHPY]HS\LZVMLX\P[PLZJOHUNLHZHYLZ\S[VMTV]LTLU[ZPUIV[O[OLSL]LSVMLX\P[`PUKPJLZHUK[OL]HS\LVM
PUKP]PK\HSZ[VJRZ;OLUVU[YHKPUNLX\P[`WYPJLYPZRL_WVZ\YLHYPZLZMYVT[OL.YV\W»ZPU]LZ[TLU[WVY[MVSPV
;OLLќLJ[VU[OL.YV\WHUK7HYLU[*VTWHU`»ZLX\P[`HZHYLZ\S[VMHJOHUNLPU[OLMHPY]HS\LVMLX\P[`PUZ[Y\TLU[ZOLSKHZH[-=6*0K\L[V
HYLHZVUHIS`WVZZPISLJOHUNLPULX\P[`PUKPJLZ^P[OHSSV[OLY]HYPHISLZOLSKJVUZ[HU[PZHZMVSSV^ZPUTPSSPVUZ!

Change in ,ќLJ[VU Change in ,ќLJ[VU
equity index ,X\P[` equity index ,X\P[`
2021 +10% P3.9 +10% P2.7
Ě (20.3) Ě (19.2)

ò (P ò (P
Liquidity Risk and Funding Management
3PX\PKP[` YPZR PZ NLULYHSS` KLÄULK HZ [OL J\YYLU[ HUK WYVZWLJ[P]L YPZR [V LHYUPUNZ VY JHWP[HS HYPZPUN MYVT [OL .YV\W»Z PUHIPSP[` [V TLL[ P[Z
obligations when they become due without incurring unacceptable losses or costs.
;OL .YV\W»Z SPX\PKP[` THUHNLTLU[ PU]VS]LZ THPU[HPUPUN M\UKPUN JHWHJP[` [V HJJVTTVKH[L Å\J[\H[PVUZ PU HZZL[ HUK SPHIPSP[` SL]LSZ K\L [V
JOHUNLZPU[OL.YV\W»ZI\ZPULZZVWLYH[PVUZVY\UHU[PJPWH[LKL]LU[ZJYLH[LKI`J\Z[VTLYILOH]PVYVYJHWP[HSTHYRL[JVUKP[PVUZ;OL.YV\W
ZLLRZ[VLUZ\YLSPX\PKP[`[OYV\NOHJVTIPUH[PVUVMHJ[P]LTHUHNLTLU[VMSPHIPSP[PLZHSPX\PKHZZL[WVY[MVSPVJVTWVZLKVMKLWVZP[ZYLZLY]LZ
HUKOPNOX\HSP[`ZLJ\YP[PLZ[OLZLJ\YPUNVMTVUL`THYRL[SPULZHUK[OLTHPU[LUHUJLVMYLW\YJOHZLMHJPSP[PLZ[VHKKYLZZHU`\UL_WLJ[LK
liquidity situations.
;OL[HISLZILSV^ZOV^[OLTH[\YP[`WYVÄSLVM[OL.YV\W»ZHUK[OL7HYLU[*VTWHU`»ZHZZL[ZHUKSPHIPSP[PLZIHZLKVUJVU[YHJ[\HS\UKPZJV\U[LK
JHZOÅV^ZPUTPSSPVUZ!
Consolidated
December 31, 2021
Less than
On demand 1 year 1 to 2 years 2 to 3 years 3 to 5 years Total
Financial Assets
Cash and other cash items P16,025 P– P– P– P– P16,025
+\LMYVT):7 124,283 – – – – 124,283
+\LMYVTV[OLYIHURZ 10,697 – – – – 10,697
0U[LYIHRSVHUZYLJLP]HISLHUK:7<9( 1,528 35,031 – – – 36,559
+LYP]H[P]LJVU[YHJ[ZKLZPNUH[LKHZOLKNLZ – 25,022 31,083 554,717 726,077 1,336,899
-PUHUJPHSHZZL[ZH[-=;73 1,705 2,233 92 225 4,296 8,551
-PUHUJPHSHZZL[ZH[-=6*0 11 2,694 2,440 1,974 59,272 66,391
-PUHUJPHSHZZL[ZH[(* 15,691 22,474 28,344 151,071 217,580
3VHUZHUKYLJLP]HISLZ – 157,593 54,659 48,550 363,523 624,325
154,249 238,264 110,748 633,810 1,304,239 2,441,310
-VY^HYK

Consolidated
December 31, 2021
Less than
+LWVZP[SPHIPSP[PLZ
+LTHUK 252,325 – – – – 252,325
:H]PUNs 302,885 – – – – 302,885
Time – 290,456 3,376 10,346 3,472 307,650
Bills payable 13 59,094 6,699 – – 65,806
4HUHNLY»ZJOLJRZ – 1,855 – – – 1,855
(JJY\LKPU[LYLZ[HUKV[OLYL_WLUZLZ – 4,746 – – – 4,746
+LYP]H[P]LJVU[YHJ[ZKLZPNUH[LKHZOLKNLZ – 254 573 1,671 174,524 177,022
+LYP]H[P]LSPHIPSP[PLZ – 999 – – – 999
Bonds payable – 22,596 2,878 19,877 – 45,351
6[OLYSPHIPSP[PLZ!
3LHZLWH`HISe – 289 372 449 1,737 2,847
(JJV\U[ZWH`HISL – 4,941 – – – 4,941
(JJLW[HUJLZWH`HISL – 1,483 – – – 1,483
+\L[V7+0* – 786 – – – 786
4HYNPUKLWVZP[Z – 1 – – – 1
6[OLYJYLKP[Z¶KVYTHU[ – 337 – – 50 387
+\L[V[OL;YLHZ\YLYVM[OL7OPSPWWPULZ – 346 – – – 346
4PZJLSSHULV\Z – 1,244 – – – 1,244
Total liabilities 555,223 389,427 13,898 32,343 179,783 1,170,674
Net Position (P400,974) (P151,163) P96,850 P601,467 P1,124,456 P1,273,636
Consolidated
+LJLTILY
3LZZ[OHU
6UKLTHUK 1 year [V`LHYZ [V`LHYZ [V`LHYZ Total
Financial Assets
Cash and other cash items P P– P– P– P– P
+\LMYVT):7 – – – –
+\LMYVTV[OLYIHURZ 18,189 – – –
0U[LYIHRSVHUZYLJLP]HISLHUK:7<9( – – –
-PUHUJPHSHZZL[ZH[-=6*0 –
-PUHUJPHSHZZL[ZH[(*
3VHUZHUKYLJLP]HISLZ –

-VY^HYK
Consolidated
+LJLTILY
3LZZ[OHU
+LWVZP[SPHIPSP[PLZ
+LTHUK – – – –
:H]PUNZ – – – –
Time
Bills payable – – – –
4HUHNLY»ZJOLJRZ – – – –
(JJY\LKPU[LYLZ[HUKV[OLYL_WLUZLZ – –
+LYP]H[P]LJVU[YHJ[ZKLZPNUH[LKHZOLKNLZ –
+LYP]H[P]LSPHIPSP[PLZ – – – –
Bonds payable –
6[OLYSPHIPSP[PLZ!
3LHZLWH`HISL –
(JJV\U[ZWH`HISL – – – –
(JJLW[HUJLZWH`HISL – – – –
+\L[V7+0* – – – –
4HYNPUKLWVZP[Z – – – – – –
6[OLYJYLKP[Z¶KVYTHU[ – – – –
+\L[V[OL;YLHZ\YLYVM[OL7OPSPWWPULZ – – – –
4PZJLSSHULV\Z – – – –
Total liabilities
5L[7VZP[PVU (P (P P P (P (P
Parent Company
December 31, 2021
Less than
Financial Assets
Cash and other cash items P13,649 P– P– P– P– P13,649
+\LMYVT):7 114,529 – – – – 114,529
+\LMYVTV[OLYIHURZ 9,897 – – – – 9,897
0U[LYIHRSVHUZYLJLP]HISLHUK:7<9( – 35,031 – – – 35,031
+LYP]H[P]LJVU[YHJ[ZKLZPNUH[LKHZOLKNLZ – 25,022 31,083 554,717 726,077 1,336,899
-PUHUJPHSHZZL[ZH[-=;73 – 2,186 92 225 4,296 6,799
-PUHUJPHSHZZL[ZH[-=6*0 – 2,584 1,920 1,525 58,212 64,241
-PUHUJPHSHZZL[ZH[(* 13,091 21,914 27,632 148,936 211,573
3VHUZHUKYLJLP]HISLZ – 133,008 41,144 39,913 342,773 556,838
138,075 210,922 96,153 624,012 1,280,294 2,349,456
(Forward)

Parent Company
December 31, 2021
Less than
+LWVZP[SPHIPSP[PLZ
+LTHUK P229,350 P– P– P– P– P229,350
:H]PUNZ 282,598 – – – – 282,598
Time – 263,014 978 6,224 55 270,271
Bills payable 13 59,094 6,699 – – 65,806
4HUHNLY»ZJOLJRZ – 1,466 – – – 1,466
(JJY\LKPU[LYLZ[HUKV[OLYL_WLUZLZ – 4,325 – – – 4,325
+LYP]H[P]LJVU[YHJ[ZKLZPNUH[LKHZOLKNLZ – 254 573 1,671 174,524 177,022
+LYP]H[P]LSPHIPSP[PLZ – 999 – – – 999
Bonds payable – 22,596 2,878 19,877 – 45,351
6[OLYSPHIPSP[PLZ!
3LHZLWH`HISL – 87 148 449 1,505 2,189
(JJV\U[ZWH`HISL – 3,580 – – – 3,580
(JJLW[HUJLZWH`HISL – 1,483 – – – 1,483
+\L[V7+0* – 786 – – – 786
4HYNPUKLWVZP[Z – 1 – – – 1
6[OLYJYLKP[Z¶KVYTHU[ – 337 – – – 337
+\L[V[OL;YLHZ\YLYVM[OL7OPSPWWPULZ – 314 – – – 314
4PZJLSSHULV\Z – 524 – – – 524
Total liabilities 511,961 358,860 11,276 28,221 176,084 1,086,402
Net Position (P373,886) (P147,938) P84,877 P595,791 P1,104,210 P1,263,054
Parent Company
+LJLTILY
3LZZ[OHU
Financial Assets
Cash and other cash items P P– P– P– P– P
+\LMYVT):7 – – – –
+\LMYVTV[OLYIHURZ – – – –
0U[LYIHRSVHUZYLJLP]HISLHUK:7<9( – – – –
-PUHUJPHSHZZL[ZH[-=;73 –
-PUHUJPHSHZZL[ZH[-=6*0 –
-PUHUJPHSHZZL[ZH[(*
3VHUZHUKYLJLP]HISLZ –

(Forward)
Parent Company
+LJLTILY
3LZZ[OHU
+LWVZP[SPHIPSP[PLZ
+LTHUK – – – –
:H]PUNZ – – – –
Time –
Bills payable – – – –
4HUHNLY»ZJOLJRZ – – – –
(JJY\LKPU[LYLZ[HUKV[OLYL_WLUZLZ – – – –
+LYP]H[P]LJVU[YHJ[ZKLZPNUH[LKHZOLKNLZ –
+LYP]H[P]LSPHIPSP[PLZ – – – –
Bonds payable –
6[OLYSPHIPSP[PLZ!
3LHZLWH`HISL –
(JJV\U[ZWH`HISL – – – –
(JJLW[HUJLZWH`HISL – – – –
+\L[V7+0* – – – –
4HYNPUKLWVZP[Z – – – – – –
6[OLYJYLKP[Z¶KVYTHU[ – – – –
+\L[V[OL;YLHZ\YLYVM[OL7OPSPWWPULZ – – – –
4PZJLSSHULV\Z – – – –
Total liabilities
Net Position (P (P P P (P (P
3PX\PKP[`YPZRPZTVUP[VYLKHUKJVU[YVSSLKWYPTHYPSÌ`HNHWHUHS`ZPZVMTH[\YP[PLZVMYLSL]HU[HZZL[ZHUKSPHIPSP[PLZYLÅLJ[LKPU[OL4*6YLWVY[
HZ^LSSHZHUHUHS`ZPZVMH]HPSHISLSPX\PKHZZL[Z0UZ[LHKVMYLS`PUNZVSLS`VUJVU[YHJ[\HSTH[\YP[PLZWYVÄSL[OL7HYLU[*VTWHU`\ZLZ)LOH]PVYHS
4*6[VJHW[\YLHNVPUNJVUJLYU]PL^-\Y[OLYTVYLPU[LYUHSSPX\PKP[`YH[PVZHUKTVUP[VYPUNVMSHYNLM\UKWYV]PKLYZOH]LILLUZL[[VKL[LYTPUL
Z\ѝJPLUJ`VMSPX\PKHZZL[ZV]LYKLWVZP[SPHIPSP[PLZ3PX\PKP[`PZTHUHNLKI`[OL7HYLU[*VTWHU`HUKP[ZZ\IZPKPHYPLZVUHKHPSÌHZPZÔPSL
scenario stress tests and sensitivity analysis are conducted periodically.
7. DUE FROM BSP AND OTHER BANKS
+\LMYVT):7
;OPZHJJV\U[JVUZPZ[ZVM!

2021 2021
+LTHUKKLWVZP[HJJV\U[5V[L P80,272,888 P P77,728,758 P
:WLJPHSKLWVZP[HJJV\U[ 44,010,212 36,800,000
6[OLYZ 15 15
P124,283,115 P P114,528,773 P

+\LMYVT6[OLY)HURZ
;OPZJVTWYPZLZVMKLWVZP[HJJV\U[Z^P[O!

2021 2021
3VJHSIHURZ P8,675,169 P P8,675,168 P
-VYLPNUIHURZ 2,019,143 1,222,096
P10,694,312 P P9,897,264 P
0U[LYLZ[0UJVTLVU+\LMYVT):7HUK6[OLY)HURZ

2021 2021
+\LMYVT):7 P311,645 P P P129,874 P P
+\LMYVTV[OLYIHURZ 1,216,160 1,088,850
P1,527,805 P P P1,218,724 P P
;OLH]LYHNLPU[LYLZ[YH[LZVU+\LMYVT):7HUK6[OLY)HURZHYLKPZJSVZLKPU5V[L
8. INTERBANK LOANS RECEIVABLE AND SECURITIES PURCHASED UNDER RESALE AGREEMENTS

2021 2021
Interbank loans receivable P19,230,679 P P19,230,679 P
:7<9( 17,328,545 15,800,317
P36,559,224 P P35,030,996 P
Interbank Loans Receivable

(ZVM+LJLTILYHUKPU[LYIHURSVHUZYLJLP]HISLPUJS\KLZZOVY[[LYTMVYLPNUJ\YYLUJ`KLUVTPUH[LKSVHUZNYHU[LK[VV[OLY
banks.
(ZVM+LJLTILYPU[LYIHURSVHUZYLJLP]HISLHSZVPUJS\KLZZOVY[[LYTWLZVKLUVTPUH[LKSVHUZNYHU[LK[VV[OLYIHURZ
0UHUK [OLPU[LYLZ[YH[LZVMMVYLPNUJ\YYLUJ`KLUVTPUH[LKPU[LYIHURSVHUZYLJLP]HISLYHUNLMYVT[VMYVT

[VHUKMYVT [VYLZWLJ[P]LS`
0U[OLPU[LYLZ[YH[LZVMWLZVKLUVTPUH[LKPU[LYIHURSVHUZYLJLP]HISLYHUNLMYVT[V
Securities Purchased Under Resale Agreement

;OPZHJJV\U[YLWYLZLU[ZV]LYUPNO[WSHJLTLU[Z^P[O[OL):7ÔLYL[OL\UKLYS`PUNZLJ\YP[PLZJHUUV[ILZVSKVYYLWSLKNLK[VWHY[PLZV[OLY
[OHU[OL):7
0UHUK [OLPU[LYLZ[YH[LVM:7<9(PZ[VHUK[VYLZWLJ[P]LS`MVY[OL.YV\WHUK7HYLU[

Company.
9. TRADING AND INVESTMENT SECURITIES
-PUHUJPHS(ZZL[ZH[-=;73

2021 2021
/LSKMVY[YHKPUN
.V]LYUTLU[IVUKZ P179,909 P P179,909 P
Treasury notes 58,684 58,684
Treasury bills 1,790,306 1,790,306
Private bonds 2,884,863 1,334,070
8\V[LKLX\P[`ZOHYLZ 1,063,897 1,014,037
5,977,659 4,377,006
-PUHUJPHSHZZL[ZKLZPNUH[LKH[-=;73 151,209 – –
+LYP]H[P]LHZZL[Z5V[L 1,080,799 1,080,798
Total P7,209,667 P P5,457,804 P
(ZVM+LJLTILYHUK/-;ZLJ\YP[PLZPUJS\KLMHPY]HS\LNHPUVMPTPSSPVUHUKMHPY]HS\LSVZZVMPTPSSPVUYLZWLJ[P]LS`
MVY[OL.YV\W(ZVM+LJLTILYHUK/-;ZLJ\YP[PLZPUJS\KLMHPY]HS\LSVZZVMPTPSSPVUHUKPTPSSPVUYLZWLJ[P]LS`
MVY[OL7HYLU[*VTWHU`
,ќLJ[P]LPU[LYLZ[YH[LZMVYWLZVKLUVTPUH[LKÄUHUJPHSHZZL[ZH[-=;73MVYIV[O[OL.YV\WHUK[OL7HYLU[*VTWHU`YHUNLMYVT[V
PUMYVT[VPUHUKMYVT[VPU ,ќLJ[P]LPU[LYLZ[YH[LZMVYMVYLPNUJ\YYLUJ`KLUVTPUH[LK
ÄUHUJPHSHZZL[ZH[-=;73MVY[OL.YV\WYHUNLMYVT[VPUMYVT[VPUHUKMYVT[VPU
,ќLJ[P]LPU[LYLZ[YH[LZMVYMVYLPNUJ\YYLUJ`KLUVTPUH[LKÄUHUJPHSHZZL[ZH[-=;73MVY[OL7HYLU[*VTWHU`YHUNLMYVT[V
PUMYVT[VPUHUKMYVT[VPU
-PUHUJPHS(ZZL[ZH[-=6*0

2021 2021
+LI[:LJ\YP[PLZ
.V]LYUTLU[IVUKZ5V[L P17,713,051 P P15,654,511 P
Private bonds 10,305,710 10,245,868
28,018,761 25,900,379
,X\P[`:LJ\YP[PLZ
8\V[LKLX\P[`ZOHYLZ 635,114 604,968
<UX\V[LKLX\P[`ZOHYLZ 18,365 18,365
653,479 623,333
Total P28,672,240 P P26,523,712 P

Unquoted equity securities

;OPZHJJV\U[JVTWYPZLZVMZOHYLZVMZ[VJRZVM]HYPV\Z\USPZ[LKWYP]H[LJVYWVYH[PVUZ;OL.YV\WOHZKLZPNUH[LK[OLZLLX\P[`ZLJ\YP[PLZHZH[
-=6*0HZ[OLZL^PSSUV[ILZVSKPU[OLMVYLZLLHISLM\[\YL
5L[\UYLHSPaLKNHPUZSVZZLZ
-PUHUJPHSHZZL[ZH[-=6*0PUJS\KLMHPY]HS\LNHPUZVMP TPSSPVUMVY[OL.YV\WHUK[OL7HYLU[*VTWHU`HZVM+LJLTILYHUKMHPY
]HS\LNHPUZVMPTPSSPVUMVY[OL.YV\WHUK[OL7HYLU[*VTWHU`HZVM+LJLTILY;OLMHPY]HS\LNHPUZHYLYLJVNUPaLK\UKLY
6*0(JJ\T\SH[LKJYLKP[SVZZLZVUKLI[ÄUHUJPHSHZZL[ZH[-=6*0VM[OL.YV\WHUK[OL7HYLU[*VTWHU`HTV\U[LK[VP TPSSPVUHUK
PTPSSPVUHZVM+LJLTILYYLZWLJ[P]LS`(JJ\T\SH[LKJYLKP[SVZZLZVUKLI[ÄUHUJPHSHZZL[ZH[-=6*0YLJVNUPaLKPU6*0VM[OL
.YV\WHUK[OL7HYLU[*VTWHU`HTV\U[LK[VPTPSSPVUHUKPTPSSPVUHZVM+LJLTILYYLZWLJ[P]LS`
,ќLJ[P]LPU[LYLZ[YH[LZMVYWLZVKLUVTPUH[LKÄUHUJPHSHZZL[ZH[-=6*0MVYIV[O[OL.YV\WHUK7HYLU[*VTWHU`YHUNLMYVT[V
PUMYVT[VPUHUKMYVT [VPU
,ќLJ[P]L PU[LYLZ[ YH[LZ MVY MVYLPNU J\YYLUJ`KLUVTPUH[LK ÄUHUJPHS HZZL[Z H[ -=6*0 MVY IV[O [OL .YV\W HUK 7HYLU[ *VTWHU` YHUNL MYVT
[VPUMYVT[VPUHUKMYVT[VPU
0U]LZ[TLU[:LJ\YP[PLZH[(TVY[PaLK*VZ[

2021 2021
.V]LYUTLU[IVUKZ5V[L P116,246,059 P P111,060,036 P
Private bonds 124,678,017 123,933,996
240,924,076 234,994,032
<UHTVY[PaLKWYLTP\T¶UL[ 4,523,400 4,239,922
(SSV^HUJLMVYJYLKP[SVZZLZ5V[L (3,093,747) (2,886,272)
P242,353,729 P P236,347,682 P
,ќLJ[P]LPU[LYLZ[YH[LZMVYWLZVKLUVTPUH[LKPU]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[MVY[OL.YV\WYHUNLMYVT[VPU

[V PUIV[OHUK ,ќLJ[P]LPU[LYLZ[YH[LZMVYMVYLPNUJ\YYLUJ`KLUVTPUH[LKPU]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[
YHUNLMYVT[VPU[VPUHUK[V PU
Sale of Investment Securities at Amortized Cost

0U HUK [OL 7HYLU[ *VTWHU` ZVSK PU]LZ[TLU[ ZLJ\YP[PLZ H[ HTVY[PaLK JVZ[ ÔVZL JHYY`PUN ]HS\LZ WYPVY [V [OL ZHSL HTV\U[LK
PIPSSPVUHUKPIPSSPVUYLZWLJ[P]LS`0U [OL.YV\WHUK[OL7HYLU[*VTWHU`ZVSKPU]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[
whose carrying values prior to the sale amounted to PIPSSPVUHUKPIPSSPVUYLZWLJ[P]LS`+L[HPSZVM[OLZLZHSLZPUJS\KPUN[OL
YLHZVUMVYZLSSPUNHYLWYLZLU[LKPU[OLZ\JJLLKPUN[HISLZ
;OL7HYLU[*VTWHU`ZVSK[OLMVSSV^PUNPU]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[PUHTV\U[ZPUTPSSPVUZ!
Parent Company
Reason for selling Carrying amount Gain on sale
(KKP[PVUHSSPX\PKP[`[VZ\WWVY[WSHUULKSVHUNYV^[O P51,316 P3,787
9LKLTW[PVUI`PZZ\LY[VLќLJ[P[ZKLI[YLÄUHUJPUNVYPU]PL^VMTPUPTHSV\[Z[HUKPUNHTV\U[Z 3,735 226
(KKP[PVUHSSPX\PKP[`[V[HRLHK]HU[HNLVMHJOHUNLPUHYLN\SH[VY`SVHUSPTP[ 589 27
(JOHUNLPU[OLM\UKPUNWYVÄSLVM[OL7HYLU[*VTWHU` 134 24
Total P55,774 P4,064
*The sales are based on the assessments made in 2020.
**The sales are based on the assessments made in 2019.
0U[OL7HYLU[*VTWHU`ZVSK[OLMVSSV^PUNPU]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[HTV\U[ZPUTPSSPVUZ!
Parent Company
Reason for selling Carrying amount .HPUVUZHSL
(KKP[PVUHSSPX\PKP[`[V[HRLHK]HU[HNLVMHJOHUNLPUHYLN\SH[VY`SVHUSPTP[ P P
9LKLTW[PVUI`PZZ\LY[VLќLJ[P[ZKLI[YLÄUHUJPUN
(JOHUNLPU[OLM\UKPUNWYVÄSLVM[OL7HYLU[*VTWHU`
;VHKKYLZZYLX\PYLTLU[ZVUYLN\SH[VY`HUKPU[LYUHSSPTP[VM[OL7HYLU[*VTWHU`
(OPNOS`WYVIHISLJOHUNLPUYLN\SH[PVUZ^P[OHWV[LU[PHSS`HK]LYZLPTWHJ[[V[OLÄUHUJPHS
HZZL[Z»JVU[YHJ[\HSJHZOÅV^Z
Total P P
* The sales are based on the assessments made in 2019.
;OL.YV\WHUK[OL7HYLU[*VTWHU`ZVSK[OLMVSSV^PUNPU]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[PU HTV\U[ZPUTPSSPVUZ!
.YV\W Parent Company

Carrying Carrying
Reason for selling .HPUVUZHSL .HPUVUZHSL
amount amount
(JOHUNLPUM\UKPUNWYVÄSLVM[OL7HYLU[*VTWHU` P P P P
;VHKKYLZZYLX\PYLTLU[ZVUYLN\SH[VY`HUKPU[LYUHSSPTP[VM[OL
.YV\WHUK7HYLU[*VTWHU`
(UPUJYLHZLPU[OLÄUHUJPHSHZZL[Z»JYLKP[YPZRK\L[VWVSP[PJHS
\UJLY[HPU[`HќLJ[PUN[OLZV]LYLPNUPZZ\LY»ZLU]PYVUTLU[
(OPNOS`WYVIHISLJOHUNLPUYLN\SH[PVUZ^P[OHWV[LU[PHSS`HK]LYZL
PTWHJ[[V[OLÄUHUJPHSHZZL[Z»JVU[YHJ[\HSJHZOÅV^Z
Total P P P P
;OLZLKPZWVZHSZVMPU]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[^LYLHZZLZZLKI`[OL.YV\WHZUV[PUJVUZPZ[LU[^P[O[OLWVY[MVSPVZ»I\ZPULZZ
TVKLSZJVUZPKLYPUN[OLJVUKP[PVUZHUKYLHZVUZMVYÔPJO[OLKPZWVZHSZ^LYLTHKLZLL5V[L
0U[LYLZ[0UJVTLVU0U]LZ[TLU[:LJ\YP[PLZH[(TVY[PaLK*VZ[HUKH[-=6*0

2021 2021
-PUHUJPHSHZZL[ZH[-=6*0 P900,827 P P P847,216 P P
HTVY[PaLKJVZ[ 8,292,920 8,087,436
P9,193,747 P P P8,934,652 P P

10. LOANS AND RECEIVABLES

2021 2021
3VHUZHUKKPZJV\U[Z
Corporate and commercial lending P489,078,422 P P472,722,122 P
Consumer lending 122,675,849 72,016,473
;YHKLòYLSH[LKSLUKPUN 12,453,552 12,079,859
6[OLYZ 116,896 20,292
624,324,719 556,838,746
<ULHYULKKPZJV\U[Z (260,378) (177,124)
624,064,341 556,661,622
(SSV^HUJLMVYPTWHPYTLU[HUKJYLKP[SVZZLZ5V[L (15,057,609) (12,489,884)
P609,006,732 P P544,171,738 P
6[OLYZPUJS\KLLTWSV`LLSVHUZHUKMVYLPNUIPSSZW\YJOHZLK
(ZVM+LJLTILYHUKSVHUZVM[OL7HYLU[*VTWHU`HTV\U[PUN[VUPSHUKPIPSSPVUYLZWLJ[P]LS`HYLYLKPZJV\U[LK^P[O
[OL):75V[L
0UMVYTH[PVUVU[OLHTV\U[ZVMZLJ\YLKHUK\UZLJ\YLKSVHUZHUKYLJLP]HISLZNYVZZVM\ULHYULKKPZJV\U[ZHUKHSSV^HUJLMVYPTWHPYTLU[HUK
JYLKP[SVZZLZVM[OL.YV\WHUK7HYLU[*VTWHU`HYLHZMVSSV^Z!

2021 2021
Amounts (TV\U[Z Amounts (TV\U[Z
3VHUZZLJ\YLKI`
9LHSLZ[H[L P85,021,052 P P58,622,700 P
Chattel mortgage 22,096,827 7,459,462
.\HYHU[LLI`[OL9LW\ISPJ
VM[OL7OPSPWWPULZ 3,315 3,315
+LWVZP[OVSKV\[ 2,506,588 2,214,506
:OHYLZVMZ[VJRVM
other banks 8,350,600 8,350,600
6[OLYZ 82,803,122 82,680,304
200,781,504 159,330,887
<UZLJ\YLKSVHUZ 423,543,215 397,507,859
P624,324,719 P P556,838,746 P
4VKPÄJH[PVUVM3VHUZHUK9LJLP]HISLZ
6U4HYJO9LW\ISPJ(J[5V V[OLY^PZLRUVÛHZ[OL)H`HUPOHU[V/LHSHZ6UL(J[¸)H`HUPOHU(J[¹^HZLUHJ[LK
)H`HUPOHU(J[WYV]PKLZ[OH[HSSJV]LYLKPUZ[P[\[PVUZZOHSSPTWSLTLU[HKH`NYHJLWLYPVKMVYHSSSVHUZ^P[OWYPUJPWHSHUKVYPU[LYLZ[HUK
SLHZLHTVY[PaH[PVUMHSSPUNK\L^P[OPU[OLLUOHUJLKJVTT\UP[`X\HYHU[PUL,*8WLYPVK^P[OV\[PUJ\YYPUNPU[LYLZ[VUPU[LYLZ[WLUHS[PLZMLLZ
HUKV[OLYJOHYNLZ:\IZLX\LU[S`VU:LW[LTILY9LW\ISPJ(J[5V V[OLY^PZLRUVÛHZ[OL)H`HUPOHU[V9LJV]LYHZ6UL
(J[¸)H`HUPOHU(J[¹^HZLUHJ[LK<UKLY)H`HUPOHU(J[HVUL[PTLKH`NYHJLWLYPVKPZNYHU[LKMVY[OLWH`TLU[VMHSSL_PZ[PUN
J\YYLU[ HUK V\[Z[HUKPUN SVHUZ MHSSPUN K\L VY HU` WHY[ [OLYLVM VU VY ILMVYL +LJLTILY ^P[OV\[ PUJ\YYPUN PU[LYLZ[ VU PU[LYLZ[Z
WLUHS[PLZMLLZVYV[OLYJOHYNLZHUK[OLYLI`L_[LUKPUN[OLTH[\YP[`VM[OLZHPKSVHUZ-\Y[OLYTVYLHTPUPT\TKH`NYHJLWLYPVKZOHSS
HSZVILNYHU[LKI`JV]LYLKPUZ[P[\[PVUZ[VHSSWH`TLU[ZK\L^P[OPU[OLWLYPVKVMJVTT\UP[`X\HYHU[PULVUYLU[HUK\[PSP[`YLSH[LKL_WLUKP[\YLZ
without incurring penalties, interest and other.
0U[OL.YV\WHUK[OL7HYLU[*VTWHU`PUHKKP[PVU[V[OLYLSPLMZWYV]PKLK\UKLY)H`HUPOHU(J[HUK)H`HUPOHU(J[OH]LVќLYLK
ÄUHUJPHSYLSPLMZ[V[OLPYIVYYV^LYZVYJV\U[LYWHY[PLZHZHYLZWVUZL[V[OLLќLJ[VM[OL*6=0+ WHUKLTPJWHY[PJ\SHYS`[OLTVKPÄJH[PVUVM
L_PZ[PUNSVHUZHUKYLJLP]HISLZÔPJOPUJS\KLZL_[LUZPVUVMWH`TLU[[LYTZ
)HZLK VU [OL .YV\W»Z HUK [OL 7HYLU[ *VTWHU`»Z HZZLZZTLU[Z [OL TVKPÄJH[PVUZ PU [OL JVU[YHJ[\HS JHZO ÅV^Z HZ H YLZ\S[ VM [OL
HIV]LYLSPLMZHYLUV[Z\IZ[HU[PHSHUK[OLYLMVYLKVUV[YLZ\S[PU[OLKLYLJVNUP[PVUVM[OLHќLJ[LKÄUHUJPHSHZZL[ZI\[^V\SKYLX\PYL[OL
YLJVNUP[PVUVMTVKPÄJH[PVUSVZZLZ;OL[V[HSTVKPÄJH[PVUSVZZLZYLZ\S[PUNMYVT)H`HUPOHU(J[HUK)H`HUPOHU(J[HYLUV[TH[LYPHSMVY
[OL7HYLU[*VTWHU`-VY*):[OL[V[HSTVKPÄJH[PVUSVZZHTV\U[LK[VPTPSSPVU;OLUL[PTWHJ[VM[OLSVHUTVKPÄJH[PVUHM[LY
Z\IZLX\LU[HJJYL[PVUPUVM[OLTVKPÄLKSVHUZHTV\U[LK[VP TPSSPVU0U[OLHJJYL[PVUVU[OLTVKPÄLKSVHUZHTV\U[LK[V
P TPSSPVU
;OL.YV\W»ZSVHUZHUKYLJLP]HISLZ[OH[OHKSVZZHSSV^HUJLZTLHZ\YLKH[HUHTV\U[LX\HS[VSPML[PTL,*3HUKÔVZLJHZOÅV^Z^LYL
TVKPÄLK PU I\[ OH]L UV[ YLZ\S[LK PU KLYLJVNUP[PVU OHK HU HTVY[PaLK JVZ[ ILMVYL TVKPÄJH[PVU HTV\U[PUN [V P IPSSPVU HUK
PIPSSPVUMVY[OL.YV\WHUK[OL7HYLU[*VTWHU`YLZWLJ[P]LS`;OLTVKPÄJH[PVUSVZZMVY[OLZLSVHUZHUKYLJLP]HISLZPZUV[TH[LYPHS[V
[OL7HYLU[*VTWHU`-VY*):[OLTVKPÄJH[PVUSVZZVU[OLZLSVHUZHUKYLJLP]HISLZHTV\U[LK[VP TPSSPVUPU
;OL.YV\W»ZSVHUZHUKYLJLP]HISLZOH]PUNSVZZHSSV^HUJLTLHZ\YLKH[HUHTV\U[LX\HS[VSPML[PTL,*3H[[OL[PTLVMTVKPÄJH[PVUI\[^LYL
UV[KLYLJVNUPaLKPUHUKMVYÔPJOJYLKP[YPZROHZZPNUPÄJHU[S`PTWYV]LKHZH[[OLLUKVMYLWVY[PUNWLYPVKYLZ\S[PUNPUHJOHUNLPUSVZZ
HSSV^HUJL[VTVU[O,*3OHKHUHTVY[PaLKJVZ[HZMVSSV^ZÄN\YLZPUIPSSPVUZ!

7YPVY[VTVKPÄJH[PVU P P
(ZVM+LJLTILY
(ZVM+LJLTILYHM[LYHJJYL[PVU[YHUZMLYZ
IL[^LLU,*3TLHZ\YLTLU[HUKWYPUJPWHSWH`TLU[Z
0U[LYLZ[0UJVTLVU3VHUZHUK9LJLP]HISLZ
(ZVM+LJLTILYHUK HUKYLZWLJ[P]LS`VM[OL[V[HSYLJLP]HISLZMYVTJ\Z[VTLYZVM[OL.YV\WHUK
HUKYLZWLJ[P]LS`VM[OL[V[HSYLJLP]HISLZMYVTJ\Z[VTLYZVM[OL7HYLU[*VTWHU`^LYLZ\IQLJ[[VPU[LYLZ[YLWYPJPUN
9LTHPUPUNYLJLP]HISLZVM[OL.YV\WJHYY`HUU\HSÄ_LKPU[LYLZ[YH[LZYHUNPUNMYVT[V PUMYVT[V PU

HUKMYVT[V PU MVYMVYLPNUJ\YYLUJ`KLUVTPUH[LKYLJLP]HISLZHUKMYVT[VPUHUK MVY
peso-denominated receivables.
9LTHPUPUN YLJLP]HISLZ VM [OL 7HYLU[ *VTWHU` JHYY` HUU\HS Ä_LK PU[LYLZ[ YH[LZ YHUNPUN MYVT [V PU MYVT [V
PUHUKMYVT[VPU MVYMVYLPNUJ\YYLUJ`KLUVTPUH[LKYLJLP]HISLZHUKMYVT[VPU
HUK MVYWLZVKLUVTPUH[LKYLJLP]HISLZ

11. EQUITY INVESTMENTS
;OPZHJJV\U[JVUZPZ[ZVMPU]LZ[TLU[ZPU!
( :\IZPKPHYPLZ
2021
)HSHUJLH[ILNPUUPUNVM[OL`LHY
*):0 P13,006,556 P
CBCC 2,406,507
*)*ò7**0 77,367
CIBI 264,361
15,754,791
:OHYLPUUL[PUJVTL
*):0 1,027,189
CBCC 292,847
*)*ò7**0 10,154
CIBI 92,313
1,422,503
:OHYLPU6[OLY*VTWYLOLUZP]L0UJVTL
0[LTZ[OH[YLJ`JSL[VWYVÄ[VYSVZZPUZ\IZLX\LU[WLYPVKZ!
5L[\UYLHSPaLKNHPUSVZZVU-=6*0
*):0 (36,523)
CBCC (5,069)
CBC-PCCI (11,017)
CIBI –
(52,610)
*\T\SH[P]L[YHUZSH[PVUHKQ\Z[TLU[Z
*):0 11,603
11,603
6[OLY,X\P[`Z[VJRNYHU[Z
*):0 (1,009)
CBCC (11)
CBC-PCCI (145)
CIBI (34)
(1,199)
(Forward)
2021
0[LTZ[OH[KVUV[YLJ`JSL[VWYVÄ[VYSVZZPUZ\IZLX\LU[WLYPVKZ!
9LTLHZ\YLTLU[NHPUZSVZZLZVUKLÄULKILULÄ[HZZL[ZVISPNH[PVUZ
*):0 P51,640 P
CBCC 193
CBC–PCCI 4,266
CIBI 157
56,256
Impairment
*):0 –
–
*HZO+P]PKLUKZ
CBCC –
CIBI –
–
)HSHUJLH[LUKVM[OL`LHY
*):0 14,059,458
CBCC 2,694,466
*)*ò7**0 80,625
CIBI 356,796
P17,191,345 P
) (ZZVJPH[LZ!
2021
)HSHUJLH[ILNPUUPUNVM[OL`LHY P912,647 P
:OHYLPUUL[PUJVTL (1,609)
:OHYLPU6*0!
0[LTZ[OH[KVUV[YLJ`JSL[VWYVÄ[VYSVZZPUZ\IZLX\LU[WLYPVKZ
9LTLHZ\YLTLU[NHPUZSVZZLZVUSPMLPUZ\YHUJL
reserves 31,874
9LTLHZ\YLTLU[VUKLÄULKILULÄ[WSHU (3,245)
0[LT[OH[YLJ`JSL[VWYVÄ[VYSVZZPUZ\IZLX\LU[WLYPVKZ!
5L[\UYLHSPaLKNHPUVU-=6*0 (103,148)
Cash dividends (40,000) –
)HSHUJLH[LUKVM[OL`LHY P796,519 P
*):0
*VZ[ VM PU]LZ[TLU[ PUJS\KLZ [OL VYPNPUHS HTV\U[ PUJ\YYLK I` [OL 7HYLU[ *VTWHU` MYVT P[Z HJX\PZP[PVU VM *):0 PU HTV\U[PUN [V
PIPSSPVU
4LYNLYVM*):0^P[O7+)
;OL)6+VMIV[O*):0HUK7+)PU[OLPYTLL[PUNOLSKVU1\ULHWWYV]LK[OLWYVWVZLKTLYNLYVM7+)^P[O*):0^P[O[OLSH[[LY
HZ[OLZ\Y]P]PUNIHUR6U5V]LTILY[OL):7PZZ\LK[OL*LY[PÄJH[LVM(\[OVYP[`VU[OL(Y[PJSLZVM4LYNLYHUK[OL7SHUVM4LYNLY
HZHTLUKLKVM*):0HUK7+)6U+LJLTILY*):0VI[HPULK:,*»ZHWWYV]HSVMP[ZTLYNLY^P[O7+)ÔLYLI`[OLLU[PYLHZZL[Z
HUKSPHIPSP[PLZVM7+)ZOHSSIL[YHUZMLYYLK[VHUKHIZVYILKI`*):0

(JX\PZP[PVUVM7+)
0U[OL7HYLU[*VTWHU`THKL[LUKLYVќLYZ[VUVUòJVU[YVSSPUNZ[VJROVSKLYZVM7+)(ZVM+LJLTILY[OL7HYLU[*VTWHU`
VÛZ HUKVM7+)»ZV\[Z[HUKPUNJVTTVUHUKWYLMLYYLKZ[VJRZYLZWLJ[P]LS`
;OLJVUZPKLYH[PVU[YHUZMLYYLKMVY[OLHJX\PZP[PVUVM7+)HTV\U[LK[V!
(JX\PZP[PVUVMTHQVYP[`VM7+)»ZJHWP[HSZ[VJR P
;LUKLYVќLYZ
P
0UHUK[OL7HYLU[*VTWHU`THKLHKKP[PVUHSJHWP[HSPUM\ZPVU[V7+)HTV\U[PUN[VPIPSSPVUHUKPIPSSPVUYLZWLJ[P]LS`
0U[OL4)VM[OL):7NYHU[LK[V[OL.YV\WPU]LZ[TLU[HUKTLYNLYPUJLU[P]LZPU[OLMVYTVM^HP]LYVMZWLJPHSSPJLUZPUNMLLZMVY
HKKP[PVUHSIYHUJOSPJLUZLZPUYLZ[YPJ[LKHYLHZ;OPZPZPUHKKP[PVU[V[OLPUP[PHSPU]LZ[TLU[HUKTLYNLYPUJLU[P]LZVMULÎYHUJOLZPU
YLZ[YPJ[LKHYLHZHUKIYHUJOLZ[VIL[YHUZMLYYLKMYVT\UYLZ[YPJ[LK[VYLZ[YPJ[LKHYLHZNYHU[LK[V[OL7HYLU[*VTWHUÌ`[OL4)PU
;OLZLIYHUJOSPJLUZLZ^LYLNYHU[LK\UKLY[OL:[YLUN[OLUPUN7YVNYHTMVY9\YHS)HUR:79)7S\Z-YHTL^VYR
;OLIYHUJOSPJLUZLZOH]L[OLMVSSV^PUNMHPY]HS\LZ!
*VTTLYJPHS)HURIYHUJOSPJLUZLZ P
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2021
Total assets P55,544,393 P
Total liabilities 53,602,517
,X\P[` 1,941,876
2021
9L]LU\LZ P16,502,813 P
)LULÄ[ZJSHPTZHUKVWLYH[PUNL_WLUZLZ 16,535,119
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12. BANK PREMISES, FURNITURE, FIXTURES AND EQUIPMENT AND RIGHT-OF-USE ASSETS
;OLJVTWVZP[PVUVMHUKTV]LTLU[ZPU[OPZHJJV\U[MVSSV^!
Consolidated
2021
Furniture, Right-of-
Land Fixtures and Leasehold &RQVWUXFWLRQĚ Right-of-use use Assets
(Note 24) Equipment Buildings Improvements LQĚ3URJUHVV Assets Land Building Total
Cost
)HSHUJLH[ILNPUUPUNVM`LHY P3,288,630 P7,202,584 P2,074,105 P2,358,640 P81,461 P173,372 P3,639,500 P18,818,292
(KKP[PVUZ – 462,932 52,661 23,614 92,902 – 447,449 1,079,558
+PZWVZHSZ[YHUZMLYZ5V[L – (73,767) 8,817 (50,053) (10,314) – (3,451) (128,768)
)HSHUJLH[LUKVM`LHY 3,288,630 7,591,749 2,135,583 2,332,201 164,049 173,732 4,083,498 19,769,082
Accumulated Depreciation
and Amortization
)HSHUJLH[ILNPUUPUNVM`LHr – 6,201,653 1,223,048 1,631,012 – 70,343 1,269,519 10,395,575
+LWYLJPH[PVUHUKHTVY[PaH[PVU – 543,245 67,242 216,712 – 15,235 628,346 1,470,780
+PZWVZHSZ[YHUZMLYZ5V[L – (242,090) (4,355) (55,711) – – (27,976) (330,132)
)HSHUJLH[LUKVM`LHY – 6,502,808 1,285,935 1,792,013 – 85,578 1,869,889 11,536,223
Net Book Value at
End of Year P3,288,630 P1,088,941 P849,648 P540,188 P164,049 P87,794 P2,213,609 P8,232,859
0UJS\KLZ[YHUZMLYZMYVTPU]LZ[TLU[WYVWLY[PLZHTV\U[PUN[VPTPSSPVU
Consolidated

Land Fixtures and Leasehold &RQVWUXFWLRQĚ Right-of-use use Assets
(Note 24) Equipment Buildings Improvements LQĚ3URJUHVV Assets Land Building Total
Cost
)HSHUJLH[ILNPUUPUNVM`LHY P P P P P P P P
(KKP[PVUZ –
+PZWVZHSZ[YHUZMLYZ5V[L –
)HSHUJLH[LUKVM`LHY
and Amortization
)HSHUJLH[ILNPUUPUNVM`LHY – –
+LWYLJPH[PVUHUKHTVY[PaH[PVU – –
+PZWVZHSZ[YHUZMLYZ5V[L – – –
)HSHUJLH[LUKVM`LHY – –
Net Book Value at
End of Year P P P P P P P P
0UJS\KLZ[YHUZMLYZMYVTPU]LZ[TLU[WYVWLY[PLZHTV\U[PUN[VP TPSSPVU
Parent Company
Land Fixtures and Leasehold &RQVWUXFWLRQĚ Right-of-use use Assets 2021
(Note 24) Equipment Buildings Improvements LQĚ3URJUHVV Assets Land Bldg. Total
Cost
)HSHUJLH[ILNPUUPUNVM`LHY P2,890,661 P5,890,301 P1,350,906 P1,670,745 P14,498 P181,451 P2,786,874 P14,785,436
(KKP[PVUZ – 353,223 51,533 20,329 3,409 – 205,402 633,896
+PZWVZHSZ[YHUZMLYZ5V[L – 31,421 8,818 (50,053) (10,314) – 53,994 33,866
)HSHUJLH[LUKVM`LHY 2,890,661 6,274,945 1,411,257 1,641,021 7,593 181,451 3,046,270 15,453,198
and Amortization
)HSHUJLH[ILNPUUPUNVM`LHY – 5,089,267 702,039 1,096,037 – 70,343 950,791 7,908,477
+LWYLJPH[PVUHUKHTVY[PaH[PVU – 432,652 67,255 164,702 – 15,235 428,850 1,108,694
+PZWVZHSZ[YHUZMLYZ5V[L – (141,427) (4,123) (55,711) – – 37,149 (164,112)
)HSHUJLH[LUKVM`LHY – 5,380,492 765,171 1,205,026 – 85,578 1,416,790 8,853,059
Net Book Value at
End of Year P2,890,661 P894,453 P646,086 P435,993 P7,593 P95,873 P1,629,480 P6,600,139
0UJS\KLZ[YHUZMLYZMYVTPU]LZ[TLU[WYVWLY[PLZHTV\U[PUN[VPTPSSPVU
Parent Company
Land Fixtures and Leasehold &RQVWUXFWLRQĚ Right-of-use use Assets 2020
(Note 24) Equipment Buildings Improvements LQĚ3URJUHVV Assets Land Bldg. Total
Cost
)HSHUJLH[ILNPUUPUNVM`LHY P P P P P P P P
(KKP[PVUZ –
+PZWVZHSZ[YHUZMLYZ5V[L – – –
)HSHUJLH[LUKVM`LHY
and Amortization
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+LWYLJPH[PVUHUKHTVY[PaH[PVU – –
+PZWVZHSZ[YHUZMLYZ5V[L – – – –
)HSHUJLH[LUKVM`LHY – –
Net Book Value at
End of Year P P P P P P P P
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13. INVESTMENT PROPERTIES
;OLJVTWVZP[PVUVMHUKTV]LTLU[ZPU[OPZHJJV\U[MVSSV^!
Consolidated
Buildings and 2021
Land Improvements Total
Cost
)HSHUJLH[ILNPUUPUNVM`LHY P3,130,005 P2,760,986 P5,890,991
(KKP[PVUZ 430,594 322,162 752,756
+PZWVZHSZ^YP[LòVќ[YHUZMLYZ (641,185) (334,200) (975,385)
)HSHUJLH[LUKVM`LHY 2,919,414 2,748,948 5,668,362
Accumulated Depreciation and Amortization
)HSHUJLH[ILNPUUPUNVM`LHY – 989,831 989,831
+LWYLJPH[PVUHUKHTVY[PaH[PVU – 150,229 150,229
+PZWVZHSZ^YP[LòVќ[YHUZMLYZ – (118,520) (118,520)
)HSHUJLH[LUKVM`LHY – 1,021,540 1,021,540
Allowance for Impairment Losses 5V[L
)HSHUJLH[ILNPUUPUNVM`LHY 612,988 303,233 916,221
Provisions (reversals) during the year (296,785) 75,000 (221,785)
+PZWVZHSZ^YP[LòVќYLJSHZZPÄJH[PVU (6,999) (33,953) (40,952)
)HSHUJLH[LUKVM`LHY 309,204 344,280 653,484
Net Book Value at End of Year P2,610,210 P1,383,128 P3,993,338
0UJS\KLZ[YHUZMLYZ[VIHURWYLTPZLZHTV\U[PUN[VPTPSSPVU5V[L
Consolidated
Buildings and
3HUK Improvements Total
Cost
)HSHUJLH[ILNPUUPUNVM`LHY P P P
(KKP[PVUZ
+PZWVZHSZ^YP[LòVќ[YHUZMLYZ
)HSHUJLH[LUKVM`LHY
)HSHUJLH[ILNPUUPUNVM`LHY –
+LWYLJPH[PVUHUKHTVY[PaH[PVU –
+PZWVZHSZ^YP[LòVќ[YHUZMLYZ –
)HSHUJLH[LUKVM`LHY –
Allowance for Impairment Losses5V[L
)HSHUJLH[ILNPUUPUNVM`LHY
+PZWVZHSZ^YP[LVќYLJSHZZPÄJH[PVU
)HSHUJLH[LUKVM`LHY
5L[)VVR=HS\LH[,UKVM@LHY P P P
Parent Company
Buildings and 2021
Land Improvements Total
Cost
)HSHUJLH[ILNPUUPUNVM`LHY P1,342,507 P1,533,910 P2,876,417
(KKP[PVUZ 50,406 30,730 81,136
+PZWVZHSZ^YP[LòVќ[YHUZMLYZ (325,282) (120,437) (445,719)
)HSHUJLH[LUKVM`LHY 1,067,631 1,444,203 2,511,834
)HSHUJLH[ILNPUUPUNVM`LHY – 519,697 519,697
+LWYLJPH[PVUHUKHTVY[PaH[PVU – 91,715 91,715
+PZWVZHSZ^YP[LòVќ[YHUZMLYZ – (65,620) (65,620)
)HSHUJLH[LUKVM`LHY – 545,792 545,792
)HSHUJLH[ILNPUUPUNVM`LHY 676,098 201,689 877,787
Provisions (reversals) during the year (296,785) – (296,785)
+PZWVZHSZ^YP[LòVќYLJSHZZPÄJH[PVU 5,670 – 5,670
)HSHUJLH[LUKVM`LHY 384,983 201,689 586,672
Net Book Value at End of Year P682,648 P696,722 P1,379,370
Parent Company
Buildings and
3HUK Improvements Total
Cost
)HSHUJLH[ILNPUUPUNVM`LHY P P P
(KKP[PVUZ
+PZWVZHSZ^YP[LòVќ[YHUZMLYZ
)HSHUJLH[LUKVM`LHY
)HSHUJLH[ILNPUUPUNVM`LHY –
+LWYLJPH[PVUHUKHTVY[PaH[PVU –
+PZWVZHSZ^YP[LòVќ[YHUZMLYZ –
)HSHUJLH[LUKVM`LHY –
)HSHUJLH[ILNPUUPUNHUKLUKVM`LHY
+PZWVZHSZ^YP[LòVќYLJSHZZPÄJH[PVU –
)HSHUJLH[LUKVM`LHY 8
Net Book Value at End of Year P P P

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IL[^LLU[OLMHPY]HS\LVM[OLPU]LZ[TLU[WYVWLY[`\WVUMVYLJSVZ\YLHUK[OLJHYY`PUN]HS\LVM[OLSVHUPZYLJVNUPaLK\UKLYº.HPUVUHZZL[
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+L[HPSZVMYLU[HSPUJVTLLHYULKHUKKPYLJ[VWLYH[PUNL_WLUZLZPUJ\YYLKVUPU]LZ[TLU[WYVWLY[PLZMVSSV^!
Consolidated
2021
9LU[PUJVTLVUPU]LZ[TLU[WYVWLY[PLZ P96,759 P P88,898
+PYLJ[VWLYH[PUNL_WLUZLZVUPU]LZ[TLU[WYVWLY[PLZNLULYH[PUNYLU[
income 1,277
+PYLJ[VWLYH[PUNL_WLUZLZVUPU]LZ[TLU[WYVWLY[PLZUV[NLULYH[PUN
rent income 74,293
Parent Company
2021
9LU[PUJVTLVUPU]LZ[TLU[WYVWLY[PLZ P54,400 P P
+PYLJ[VWLYH[PUNL_WLUZLZVUPU]LZ[TLU[WYVWLY[PLZNLULYH[PUNYLU[
income 371
+PYLJ[VWLYH[PUNL_WLUZLZVUPU]LZ[TLU[WYVWLY[PLZUV[NLULYH[PUN
rent income 32,765
9LU[PUJVTLLHYULKMYVTSLHZPUNV\[PU]LZ[TLU[WYVWLY[PLZPZPUJS\KLK\UKLYº4PZJLSSHULV\ZPUJVTL»PU[OLZ[H[LTLU[ZVMPUJVTL5V[L
+PYLJ[VWLYH[PUNL_WLUZLZPUJS\KLVJJ\WHUJ`JVZ[YLWHPYZHUKTHPU[LUHUJLHUK[H_LZHUKSPJLUZLZYLSH[LK[V[OLPU]LZ[TLU[WYVWLY[PLZ
6U (\N\Z[ [OL 7HYLU[ *VTWHU` ^HZ YLNPZ[LYLK HZ HU ,JVUVTPJ AVUL 0UMVYTH[PVU ;LJOUVSVN` 0; -HJPSP[PLZ ,U[LYWYPZL ^P[O
[OL7OPSPWWPUL,JVUVTPJAVUL(\[OVYP[`7,A([VVWLYH[LHUKTHPU[HPUHWYVWVZLKZ[VYLÌ\PSKPUNSVJH[LKPUZPKL[OL*)70;7HYRPU
)HYHUNH`Z4HIVSV3\a/PWVKYVTV*HYYL[HHUK2HTW\[OH^*LI\*P[`MVYSLHZL[V7,A(YLNPZ[LYLK0;LU[LYWYPZLZHUK[VILRUVÛHZ
*OPUHIHUR*VYWVYH[L*LU[LY;OPZYLNPZ[YH[PVUPZ\UKLY7,A(9LNPZ[YH[PVU*LY[PÄJH[L5V-
<UKLY[OPZYLNPZ[YH[PVU[OL7HYLU[*VTWHU`PZLU[P[SLK[VÄ]LWLYJLU[ÄUHS[H_VUNYVZZPUJVTLLHYULKMYVTSVJH[VY0;LU[LYWYPZLZ
HUKYLSH[LKVWLYH[PVUZPUHJJVYKHUJL^P[OL_PZ[PUN7,A(Y\SLZ;OL7HYLU[*VTWHU`ZOHSSHSZVILL_LTW[LKMYVT[OLWH`TLU[VMHSSUH[PVUHS
and local taxes in relation to this registered activity.
14. GOODWILL AND INTANGIBLE ASSETS
.VVK^PSS
.VVK^PSSYLWYLZLU[Z[OLL_JLZZVM[OLHJX\PZP[PVUJVZ[ZV]LY[OLMHPY]HS\LVM[OLPKLU[PÄHISLHZZL[ZHUKSPHIPSP[PLZVMJVTWHUPLZHJX\PYLKI`
[OL.YV\W
;OL.YV\WH[[YPI\[LK[OLNVVK^PSSHYPZPUNMYVTP[ZHJX\PZP[PVUVM*):0HUK7+)[VMHJ[VYZZ\JOHZPUJYLHZLPUNLVNYHWOPJHSWYLZLUJLHUK
J\Z[VTLYIHZLK\L[V[OLIYHUJOLZHJX\PYLK5VULVM[OLNVVK^PSSYLJVNUPaLKPZL_WLJ[LK[VILKLK\J[PISLMVYPUJVTL[H_W\YWVZLZ*):0
HZZ\Y]P]PUNLU[P[`MYVT[OLTLYNLY^P[O7+)PZ[OLPKLU[PÄLK*.<MVY[OPZNVVK^PSS;OL7HYLU[*VTWHU`»Z9L[HPS)HURPUN)\ZPULZZ9))
OHZILLUPKLU[PÄLKHZ[OL*.<MVYPTWHPYTLU[[LZ[PUNVM[OLNVVK^PSSMYVTP[ZHJX\PZP[PVUVM*):0
(ZVM+LJLTILYHUKHTV\U[VMNVVK^PSSWLY*.<MVSSV^Z!

9)) P P
*):0 –
Total P P
;OLYLJV]LYHISLHTV\U[VM[OL*.<ZOH]LILLUKL[LYTPULKIHZLKVUH]HS\LPU\ZLJHSJ\SH[PVU\ZPUNJHZOÅV^WYVQLJ[PVUZMYVTÄUHUJPHS
I\KNL[ZHWWYV]LKI`ZLUPVYTHUHNLTLU[JV]LYPUNHÄ]L`LHYWLYPVKÔPJOKVUV[PUJS\KLYLZ[Y\J[\YPUNHJ[P]P[PLZ[OH[[OL.YV\WPZUV[`L[
JVTTP[[LK[VVYZPNUPÄJHU[M\[\YLPU]LZ[TLU[Z[OH[^PSSLUOHUJL[OLHZZL[IHZLVM[OL*.<ILPUN[LZ[LK6[OLY[OHUSVHUZHUKKLWVZP[Z
NYV^[OYH[LZ[OLZPNUPÄJHU[HZZ\TW[PVUZHUK[OLTVZ[ZLUZP[P]L\ZLKPUJVTW\[PUNMVY[OLYLJV]LYHISL]HS\LZVM[OL*.<ZMVSSV^!
2021
RBB CBSI 9)) *):0
+PZJV\U[YH[L 9.08% 11.33%
3VUN[LYTNYV^[OYH[L 1.00% 1.00%
>P[OYLNHYK[V[OLHZZLZZTLU[VM]HS\LPU\ZLVM[OL*.<THUHNLTLU[ILSPL]LZ[OH[UVYLHZVUHIS`WVZZPISLJOHUNLPUHU`VM[OLHIV]LRL`
HZZ\TW[PVUZ^V\SKJH\ZL[OLJHYY`PUN]HS\LVM[OLNVVK^PSS[VTH[LYPHSS`L_JLLKP[ZYLJV]LYHISLHTV\U[HZVM+LJLTILYHUK
)YHUJO3PJLUZLZ
)YHUJO SPJLUZLZ VM [OL .YV\W HYVZL MYVT [OL HJX\PZP[PVUZ VM *):0 <UP[` )HUR HUK 7+) ,HJO IYHUJO [V ÔPJO [OL IYHUJO SPJLUZL PZ
H[[YPI\[LKPZ[OL*.<[OH[PZ[LZ[LKPUKLWLUKLU[S`MVYPTWHPYTLU[HZZLZZTLU[
(ZVM+LJLTILYHUKKL[HPSZVMIYHUJOSPJLUZLZPU[OL.YV\W»ZHUK[OL7HYLU[*VTWHU`»ZÄUHUJPHSZ[H[LTLU[ZMVSSV^!

2021 2021
)YHUJOSPJLUZLMYVT*):0HJX\PZP[PVU P477,600 P P455,000 P
)YHUJOSPJLUZLMYVT<UP[`)HURHJX\PZP[PVU 360,000 – –
)YHUJOSPJLUZLMYVT7+)HJX\PZP[PVU 2,839,500 – –
3,677,100 455,000
(SSV^HUJLMVYWYVIHISLSVZZLZ (289,502) (57,000)
P3,387,598 P P398,000 P
*mostly attributable to the Parent Company
6[OLY[OHUSVHUZHUKKLWVZP[ZNYV^[OYH[LZ[OL.YV\W\ZLZ[OLKPZJV\U[YH[LVM HUKSVUN[LYTNYV^[OYH[LVMMVYJVTW\[PUN

MVY[OLYLJV]LYHISL]HS\LZVM[OL*.<Z

*HWP[HSPaLKZVM[^HYLJVZ[Z
;OLTV]LTLU[ZPU[OLHJJV\U[MVSSV^!

2021 2021
Cost
)HSHUJLH[ILNPUUPUNVM`LHY P1,919,187 P P1,836,621 P
(KKP[PVUZ 104,662 94,060
+PZWVZHSZ>YP[LVќ9LJSHZZPÄJH[PVUZ5V[L (34,771) 4,846
)HSHUJLH[LUKVM`LHY 1,989,078 1,935,527
)HSHUJLH[ILNPUUPUNVM`LHY 1,433,616 1,400,685
+LWYLJPH[PVUHUKHTVY[PaH[PVU 166,157 163,915
+PZWVZHSZ>YP[LVќ9LJSHZZPÄJH[PVUZ5V[L (22,486) 487
)HSHUJLH[LUKVM`LHY 1,577,287 1,565,087
Net Book Value at End of Year P411,791 P P370,440 P
,_JOHUNL;YHKPUN9PNO[
(ZVM+LJLTILYHUK[OL.YV\WOHZHUL_JOHUNL[YHKPUNYPNO[^P[O[OLMVSSV^PUNJHYY`PUN]HS\L!
Cost P12,000
3LZZ!HSSV^HUJLMVYPTWHPYTLU[SVZZLZ 3,500
P8,500
;OL [YHKPUN YPNO[ OHZ HU PUKLÄUP[L \ZLM\S SPML HUK [O\Z PZ UV[ HTVY[PaLK I\[ PZ Z\IQLJ[ MVY PTWHPYTLU[ H[ L]LY` YLWVY[PUN KH[L ;OL SHZ[
[YHUZHJ[LKWYPJLVM[OL[YHKPUNYPNO[PZPTPSSPVUHZHWWYV]LKI`[OL)6+VM7:,;OLL_JOHUNL[YHKPUNYPNO[HZVM+LJLTILY
HUKYLTHPUZ[VIL\UPTWHPYLK
<UKLY[OL7:,Y\SLZHSSL_JOHUNLTLTILYZOPWZLH[ZHYLWSLKNLKH[P[ZM\SS]HS\L[V[OL7:,[VZLJ\YL[OLWH`TLU[VMHSSKLI[Z[VV[OLY
TLTILYZVM[OLL_JOHUNLHYPZPUNV\[VMVYPUJVUULJ[PVU^P[O[OLWYLZLU[VYM\[\YLTLTILYZ»JVU[YHJ[Z
15. OTHER ASSETS

2021 2021
Financial assets
(JJV\U[ZYLJLP]HISL 2,664,413 1,673,539
:*9 1,163,371 243,355
9*6*0 205,933 181,477
6[OLYZ 17,675 9,660
4,051,392 2,108,031
-VY^HYK
2021 2021
1RQðQDQFLDODVVHWV
5L[WSHUHZZL[Z5V[L P483,001 P P300,391 P
Prepaid expenses 494,381 427,713
Creditable withholding taxes 446,253 435,700
:LJ\YP[`KLWVZP[ 157,070 155,197
+VJ\TLU[HY`Z[HTWZ 305,942 244,461
:\UKY`KLIP[Z 105,776 36,131
4PZJLSSHULV\Z 1,105,627 313,666
3,098,050 1,913,259 8
7,419,442 4,021,290
(SSV^HUJLMVYPTWHPYTLU[SVZZLZ5V[L (685,057) (379,619)
P6,464,385 P P3,641,671 P
Accounts receivable
(JJV\U[Z YLJLP]HISL HSZV PUJS\KLZ UVUPU[LYLZ[ ILHYPUN HK]HUJLZ [V VѝJLYZ HUK LTWSV`LLZ ^P[O [LYTZ YHUNPUN MYVT [V KH`Z HUK
YLJLP]HISLZVM[OL7HYLU[*VTWHU`MYVTH\[VTH[LK[LSSLYTHJOPUL(;4[YHUZHJ[PVUZVMJSPLU[ZVMV[OLYIHURZ[OH[[YHUZHJ[LK[OYV\NOHU`
VM[OL7HYLU[*VTWHU`»Z(;4[LYTPUHSZ
Sales contract receivable

;OPZYLMLYZ[V[OLHTVY[PaLKJVZ[VMHZZL[ZHJX\PYLKPUZL[[SLTLU[VMSVHUZ[OYV\NOMVYLJSVZ\YLVYKH[PVUPUWH`TLU[HUKZ\IZLX\LU[S`ZVSKVU
PUZ[HSSTLU[IHZPZÔLYLI`[OL[P[SL[V[OLZHPKWYVWLY[`PZ[YHUZMLYYLK[V[OLI\`LYZVUS`\WVUM\SSWH`TLU[VM[OLHNYLLKZLSSPUNWYPJL
:*9ILHYZÄ_LKPU[LYLZ[YH[LZWLYHUU\TPUHUK YHUNPUNMYVT[V[VHUK[V

respectively.
Miscellaneous
4PZJLSSHULV\ZJVUZPZ[ZTHPUS`VM\UPZZ\LKZ[H[PVULY`HUKZ\WWSPLZPU[LYVѝJLÅVH[P[LTZHUKKLWVZP[ZMVY]HYPV\ZZLY]PJLZ
16. ALLOWANCE FOR IMPAIRMENT AND CREDIT LOSSES
*OHUNLZPU[OLHSSV^HUJLMVYPTWHPYTLU[HUKJYLKP[SVZZLZHYLHZMVSSV^Z!

2021 2021
)HSHUJLZH[ILNPUUPUNVM`LHY
3VHUZHUKYLJLP]HISLZ P14,739,918 P P12,527,657 P
0U]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[ 2,389,845 2,383,800
-PUHUJPHSHZZL[ZH[-=6*0 30,384 30,056
Investment properties 916,219 877,787
(JJY\LKPU[LYLZ[YLJLP]HISL 337,785 36,609
Intangible assets 293,002 57,000
Investment in subsidiaries – – 59,902 –
6[OLYHZZL[Z 523,092 234,109
6ќIHSHUJLZOLL[L_WVZ\YLZ 467,117 457,099
-VY^HYK


2021 2021
P19,697,362 P P16,664,019 P
Provisions charged to operations 8,876,744 7,679,877
(JJV\U[ZJOHYNLKVќHUKV[OLYZ (7,510,021) (6,910,315)
1,366,723 769,562
)HSHUJLZH[LUKVM`LHY
3VHUZHUKYLJLP]HISLZ5V[L 15,057,609 12,489,884
0U]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[5V[L 3,093,747 2,886,272
-PUHUJPHSHZZL[ZH[-=6*05V[L 61,495 60,998
0U]LZ[TLU[WYVWLY[PLZ5V[L 653,484 586,672
(JJY\LKPU[LYLZ[YLJLP]HISL 478,814 182,375
Intangible assets 293,002 57,000
Investment in subsidiaries – – 59,902
6[OLYHZZL[Z5V[L 685,057 379,619
6ќIHSHUJLZOLL[L_WVZ\YLZ 740,877 730,859
P21,064,085 P P17,433,581 P
* The allowance for credit and impairment losses in the above table are presented as contra-asset in determining the carrying amount of the
YLSH[LKHZZL[HJJV\U[ZL_JLW[MVY[OLL_WLJ[LKJYLKP[SVZZLZVU¸-PUHUJPHSHZZL[ZH[-=6*0¹HUK¸6ќIHSHUJLZOLL[L_WVZ\YLZ¹ÔPJOHYL
presented under “Other Comprehensive Income” (Equity) and “Other Liabilities” (Liabilitiy), respectively.
([[OLJ\YYLU[SL]LSVMHSSV^HUJLMVYPTWHPYTLU[HUKJYLKP[SVZZLZTHUHNLTLU[ILSPL]LZ[OH[[OL.YV\WOHZZ\ѝJPLU[HSSV^HUJL[VJV]LYHU`
SVZZLZ[OH[THÌLPUJ\YYLKMYVT[OLUVUJVSSLJ[PVUVYUVUYLHSPaH[PVUVMP[ZSVHUZHUKYLJLP]HISLZHUKV[OLYYPZRHZZL[Z
;OLZLWHYH[L]HS\H[PVUHSSV^HUJLVMHJX\PYLKSVHUZHUKYLJLP]HISLZMYVT7+)HTV\U[PUN[VP IPSSPVU^HZUV[YLJVNUPaLKI`[OL.YV\W
VU[OLLќLJ[P]P[`KH[LVMHJX\PZP[PVUHZ[OLZLYLJLP]HISLZ^LYLTLHZ\YLKH[MHPY]HS\LH[HJX\PZP[PVUKH[L(U`\UJLY[HPU[PLZHIV\[M\[\YL
JHZOÅV^ZVM[OLZLYLJLP]HISLZ^LYLPUJS\KLKPU[OLPYMHPY]HS\LTLHZ\YLTLU[5V[L(SZV[OLZLWHYH[L]HS\H[PVUHSSV^HUJLVMHJX\PYLK
PU]LZ[TLU[WYVWLY[PLZMYVT7+)HTV\U[PUN[VP TPSSPVU^HZUV[YLJVNUPaLKI`[OL.YV\WVU[OLLќLJ[P]P[`KH[LVMHJX\PZP[PVUHZ[OLZL
WYVWLY[PLZ^LYLTLHZ\YLKH[MHPY]HS\LVUHJX\PZP[PVUKH[L
)LSV^PZ[OLIYLHRKVÛVMWYV]PZPVUMVYJYLKP[SVZZLZPUHUK

2021 2021
Corporate and commercial lending P5,887,208 P P P6,228,681 P P
Consumer lending 1,803,215 533,013
Trade-related lending 21,737 25,858
6[OLYZ 855 328 – –
0U]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[ 394,228 369,383
-PUHUJPHSHZZL[ZH[-=6*0KLI[
13,226 13,057
securities)
8,120,469 7,170,320
0TWHJ[[VWYVÄ[VYSVZZVMTV]LTLU[ZPU
,*3MVYVќIVVRZL_WVZ\YLZ 271,578 271,578
6[OLYHZZL[Z 484,697 237,979
P8,876,744 P P P7,679,877 P P
;OL[HISLZILSV^PSS\Z[YH[L[OLTV]LTLU[ZVM[OLHSSV^HUJLMVYPTWHPYTLU[HUKJYLKP[SVZZLZK\YPUNLќLJ[VMTV]LTLU[ZPU,*3K\L
[V[YHUZMLYZIL[^LLUZ[HNLZHYLZOVÛPU[OL[V[HSJVS\TU!
Consolidated
ECL Staging
Loss allowance at January 1, 2021 P4,536,289 P3,213,081 P4,628,126 P12,377,496
Movements with P&L impact
;YHUZMLYZ!
;YHUZMLYMYVT:[HNL[V:[HNL –
5L^ÄUHUJPHSHZZL[ZVYPNPUH[LK
*OHUNLZPU7+Z3.+Z,(+Z
-PUHUJPHSHZZL[ZKLYLJVNUPaLKK\YPUN[OLWLYPVK
-_HUKV[OLYTV]LTLU[Z
Total net P&L charge during the period (1,569,225) (19,319) 7,475,752 5,887,208
Other movements without P&L impact
>YP[LVќZMVYLJSVZ\YLZHUKV[OLYTV]LTLU[Z
Total movements without P&L impact 48,112 11,112 (6,289,638) (6,230,414)
Loss allowance at December 31, 2021 P3,015,176 P3,204,874 P5,814,240 P12,034,290

:[HNLJSHZZPÄJH[PVUVMUL^ÄUHUJPHSHZZL[ZVYPNPUH[LKWLY[HPUZ[V[OLZ[HNLHZVMLUKVM`LHY
Consolidated
ECL Staging
Consumer lending 12-month ECL Lifetime ECL Lifetime ECL Total
Loss allowance at January 1, 2021 P332,094 P155,749 P1,593,086 P2,080,929
;YHUZMLYZ!
-_HUKV[OLYTV]LTLU[Z – – – –
Total net P&L charge during the period 238,222 19,362 1,545,631 1,803,215
>YP[LVќZMVYLJSVZ\YLZHUKV[OLYTV]LTLU[Z – –
Total movements without P&L impact – – (1,095,033) (1,095,033)
Loss allowance at December 31, 2021 P570,316 P175,111 P2,043,684 P2,789,111


Consolidated
ECL Staging
Trade-related lending 12-month ECL Lifetime ECL Lifetime ECL Total
Loss allowance at January 1, 2021 P133,667 P23,814 P121,123 P278,604
;YHUZMLYZ!
;YHUZMLYMYVT:[HNL[V:[HNL (8) 8 – –
;YHUZMLYMYVT:[HNL[V:[HNL – – – –
;YHUZMLYMYVT:[HNL[V:[HNL (99) –
5L^ÄUHUJPHSHZZL[ZVYPNPUH[LK –
-PUHUJPHSHZZL[ZKLYLJVNUPaLKK\YPUN[OLWLYPVK –
-_HUKV[OLYTV]LTLU[Z –
Total net P&L charge during the period (12,506) (9,049) 43,292 21,737
Total movements without P&L impact 2,407 7 (72,291) (69,877)
Loss allowance at December 31, 2021 P123,568 P14,772 P92,124 P230,464

Consolidated
ECL Staging
Loss allowance at January 1, 2021 P1 P48 P2,840 P2,889
;YHUZMLYZ!
;YHUZMLYMYVT:[HNL[V:[HNL – –
;YHUZMLYMYVT:[HNL[V:[HNL – – 9 9
*OHUNLZPU7+Z3.+Z,(+Z –
-PUHUJPHSHZZL[ZKLYLJVNUPaLKK\YPUN[OLWLYPVK (1) (8)
Total net P&L charge during the period 2 (48) 901 855
>YP[LVќZMVYLJSVZ\YLZHUKV[OLYTV]LTLU[Z – – – –
Total movements without P&L impact – – – –
Loss allowance at December 31, 2021 P3 P– P3,741 P3,744

Consolidated
,*3:[HNPUN
Loans and receivables – total 12-month ECL Lifetime ECL Lifetime ECL Total
;YHUZMLYZ!
-_HUKV[OLYTV]LTLU[Z (11,119)
>YP[LVќZMVYLJSVZ\YLZHUKV[OLYTV]LTLU[Z 11,119

Consolidated
ECL Staging
Investment securities at amortized cost 12-month ECL Lifetime ECL Lifetime ECL Total
Loss allowance at January 1, 2021 P387,575 P– P2,002,270 P2,389,845
;YHUZMLYZ!
;YHUZMLYMYVT:[HNL[V:[HNL – – –
5L^ÄUHUJPHSHZZL[ZVYPNPUH[LKVYW\YJOHZLK –
-PUHUJPHSHZZL[ZKLYLJVNUPaLKK\YPUN[OLWLYPVK – –
-_HUKV[OLYTV]LTLU[Z
Total net P&L charge during the period (69,307) 34,676 428,859 394,228
Total movements without P&L impact 129,377 3,712 176,585 309,674


Consolidated
ECL Staging
Financial assets at FVOCI (debt securities) 12-month ECL Lifetime ECL Lifetime ECL Total
Loss allowance at January 1, 2021 P30,384 P– P– P30,384
;YHUZMLYZ!
*OHUNLZPU7+Z3.+Z,(+Z – –
Total net P&L charge during the period 12,194 1,032 – 13,226
>YP[LVќZMVYLJSVZ\YLZHUKV[OLYTV]LTLU[Z –
Total movements without P&L impact 17,380 505 – 17,885
Loss allowance at December 31, 2021 P59,958 P1,537 P– P61,495

Parent Company
ECL Staging
;YHUZMLYZ!
-_HUKV[OLYTV]LTLU[Z
6[OLYTV]LTLU[Z^P[OV\[7 3PTWHJ[
:ULWHRσVIRUHFORVXUHVDQGRWKHUPRYHPHQWV 48,112 11,111 (6,220,037) (6,160,814)

:[HNLJSHZZPÄJH[PVUVMUL^ÄUHUJPHSHZZL[ZVYPNPUH[LKVYW\YJOHZLKWLY[HPUZ[V[OLZ[HNLHZVMLUKVM`LHY
Parent Company
ECL Staging
Consumer lending 12-month ECL Lifetime ECL Lifetime ECL Total
Loss allowance at January 1, 2021 P214,195 P110,481 P1,051,455 P1,376,131
;YHUZMLYZ!
Total net P&L charge during the period 263,884 43,905 225,224 533,013
Total movements without P&L impact – – (594,962) (594,962)
Loss allowance at December 31, 2021 P478,079 P154,386 P681,717 P1,314,182

Parent Company
ECL Staging
Trade-related lending 12-month ECL Lifetime ECL Lifetime ECL Total
Loss allowance at January 1, 2021 P132,753 P23,814 P113,425 P269,992
;YHUZMLYZ!
;YHUZMLYMYVT:[HNL[V:[HNL (8) 8 – –
;YHUZMLYMYVT:[HNL[V:[HNL (99)
Total net P&L charge during the period (14,517) (9,119) 49,494 25,858
Total movements without P&L impact 2,407 7 (72,291) (69,877)
Loss allowance at December 31, 2021 P120,643 P14,702 P90,628 P225,973


Parent Company
ECL Staging
Loss allowance at January 1, 2021 P– P– P– P–
;YHUZMLYZ!
5L^ÄUHUJPHSHZZL[ZVYPNPUH[LK – –
*OHUNLZPU7+Z3.+Z,(+Z – – – –
-PUHUJPHSHZZL[ZKLYLJVNUPaLKK\YPUN[OLWLYPVK – – – –
Total net P&L charge during the period – – 328 328
Total movements without P&L impact – – – –
Loss allowance at December 31, 2021 P– P– P328 P328

Parent Company
ECL Staging
Loans and receivables – total 12-month ECL Lifetime ECL Lifetime ECL Total
;YHUZMLYZ!
-_HUKV[OLYTV]LTLU[Z (11,119)
Total net P&L charge during the period (1,281,964) 17,059 8,052,785 6,787,880
>YP[LVќZMVYLJSVZ\YLZHUKV[OLYTV]LTLU[Z 11,118

Parent Company
ECL Staging
Investment securities at amortized cost 12-month ECL Lifetime ECL Lifetime ECL Total
Loss allowance at January 1, 2021 P381,530 P– P2,002,270 P2,383,800
;YHUZMLYZ!
Total net P&L charge during the period (74,311) 34,676 409,018 369,383
Total movements without P&L impact 129,377 3,712 – 133,089

Parent Company
ECL Staging
Financial assets at FVOCI (debt securities) 12-month ECL Lifetime ECL Lifetime ECL Total
Loss allowance at January 1, 2021 P30,056 P– P– P30,056
;YHUZMLYZ!
Total net P&L charge during the period 12,025 1,032 – 13,057
Total movements without P&L impact 17,380 505 – 17,885
Loss allowance at December 31, 2021 P59,461 P1,537 P– P60,998


*VTWHYH[P]LÄN\YLZMVY[OLTV]LTLU[VMHSSV^HUJLMVYJYLKP[HUKPTWHPYTLU[SVZZLZMVYHYLZOVÛILSV^!
Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
Corporate and commercial lending ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
3VZZHSSV^HUJLH[1HU\HY` P P P P
4V]LTLU[Z^P[O7 3PTWHJ[
;YHUZMLYZ!
-_HUKV[OLYTV]LTLU[Z
;V[HSUL[7 3JOHYNLK\YPUN[OLWLYPVK
;V[HSTV]LTLU[Z^P[OV\[7 3PTWHJ[
3VZZHSSV^HUJLH[+LJLTILY ] P P P

Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
Consumer lending ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
;YHUZMLYZ!
;YHUZMLYMYVT:[HNL[V:[HNL – 881
-_HUKV[OLYTV]LTLU[Z – –
;V[HSTV]LTLU[Z^P[OV\[7 3PTWHJ[ – –
3VZZHSSV^HUJLH[+LJLTILY P P P P

Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
Trade-related lending ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
;YHUZMLYZ!
;V[HSTV]LTLU[Z^P[OV\[7 3PTWHJ[ –

Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
6[OLYs ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
3VZZHSSV^HUJLH[1HU\HY` P– P– P– P–
;YHUZMLYZ! – – – –
5L^ÄUHUJPHSHZZL[ZVYPNPUH[LK 1 8 - 9
;V[HSUL[7 3JOHYNLK\YPUN[OLWLYPVK 1
;V[HSTV]LTLU[Z^P[OV\[7 3PTWHJ[ – – – –
3VZZHSSV^HUJLH[+LJLTILY P1 P P P


Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
3VHUZHUKYLJLP]HISLZ¶[V[Hl ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
;YHUZMLYZ!
-_HUKV[OLYTV]LTLU[Z

Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
0U]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZt ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
3VZZHSSV^HUJLH[1HU\HY` P P P– P
;YHUZMLYZ!
5L^ÄUHUJPHSHZZL[ZVYPNPUH[LKVYW\YJOHZLK – –
3VZZHSSV^HUJLH[+LJLTILY P P– P P

Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
-PUHUJPHSHZZL[ZH[-=6*0KLI[ZLJ\YP[PLZ) ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
3VZZHSSV^HUJLH[1HU\HY` P P– P– P
;YHUZMLYZ!
;V[HSUL[7 3JOHYNLK\YPUN[OLWLYPVK – –
3VZZHSSV^HUJLH[+LJLTILY P P– P– P

Parent Company
,*3:[HNPUN
:[HNL :[HNL :[HNL
;YHUZMLYZ!
-_HUKV[OLYTV]LTLU[Z


Parent Company
,*3:[HNPUN
:[HNL :[HNL :[HNL
;YHUZMLYZ!
;YHUZMLYMYVT:[HNL[V:[HNL 1,198 –

Parent Company
,*3:[HNPUN
:[HNL :[HNL :[HNL
;YHUZMLYZ!
;V[HSTV]LTLU[Z^P[OV\[7 3PTWHJ[ –

Parent Company
,*3:[HNPUN
:[HNL :[HNL :[HNL
3VHUZHUKYLJLP]HISLZ¶[V[HS ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
;YHUZMLYZ!
-_HUKV[OLYTV]LTLU[Z

Parent Company
,*3:[HNPUN
:[HNL :[HNL :[HNL
0U]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZt ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
3VZZHSSV^HUJLH[1HU\HY` P P P– P
;YHUZMLYZ!
3VZZHSSV^HUJLH[+LJLTILY P P– P P


Parent Company
,*3:[HNPUN
:[HNL :[HNL :[HNL
-PUHUJPHSHZZL[ZH[-=6*0KLI[ZLJ\YP[PLZ) ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
3VZZHSSV^HUJLH[1HU\HY` P P– P– P
;YHUZMLYZ!
;V[HSUL[7 3JOHYNLK\YPUN[OLWLYPVK – –
3VZZHSSV^HUJLH[+LJLTILY P P– P– P

;OLJVYYLZWVUKPUNTV]LTLU[VM[OLNYVZZJHYY`PUNHTV\U[VM[OLÄUHUJPHSHZZL[ZK\YPUNHYLZOVÛILSV^!
Consolidated
ECL Staging
Corporate and commercial lending 12–month ECL Lifetime ECL Lifetime ECL Total
Gross carrying amount at January 1, 2021 P397,992,042 P39,717,491 P11,955,693 P449,665,226
;YHUZMLYZ!
*OHUNLZPU,(+Z
Total movements of carrying amount 30,837,201 10,900,890 (2,324,895) 39,413,196
Gross carrying amount at December 31, 2021 P428,829,243 P50,618,381 P9,630,798 P489,078,422
Consolidated
ECL Staging
Consumer lending 12–month ECL Lifetime ECL Lifetime ECL Total
;YHUZMLYZ!
*OHUNLZPU,(+Z
Total movements of carrying amount 10,840,096 (427,385) (1,740,204) 8,672,507
Consolidated
ECL Staging
Trade-related lending 12–month ECL Lifetime ECL Lifetime ECL Total
Gross carrying amount at January 1, 2021 P7,216,491 P1,012,597 P304,961 P8,534,049
;YHUZMLYZ!
*OHUNLZPU,(+Z
Total movements of carrying amount 4,015,999 (46,366) (50,130) 3,919,503
Gross carrying amount at December 31, 2021 P11,232,490 P966,231 P254,831 P12,453,552

Consolidated
ECL Staging
Others 12–month ECL Lifetime ECL Lifetime ECL Total
Gross carrying amount at January 1, 2021 P131,951 P3,497 P6,889 P142,337
;YHUZMLYZ!
*OHUNLZPU,(+Z
Total movements of carrying amount (26,821) 3,533 (2,153) (25,441)
Gross carrying amount at December 31, 2021 P105,130 P7,030 P4,736 P116,896
Consolidated
ECL Staging
Loans and receivables – total 12–month ECL Lifetime ECL Lifetime ECL Total
;YHUZMLYZ!
*OHUNLZPU,(+Z
Consolidated
ECL Staging
Investment securities at amortized cost 12–month ECL Lifetime ECL Lifetime ECL Total
Gross carrying amount at January 1, 2021 P195,420,861 P– P3,631,625 P199,052,486
;YHUZMLYZ!
*OHUNLZPU,(+Z –
Total movements of carrying amount 37,989,699 3,566,516 315,375 41,871,590
Consolidated
ECL Staging
Financial assets at FVOCI (debt securities) 12–month ECL Lifetime ECL Lifetime ECL Total
Gross carrying amount at January 1, 2021 P19,601,316 P– P– P19,601,316
;YHUZMLYZ!
*OHUNLZPU,(+Z –
Total movements of carrying amount 8,009,690 407,755 – 8,417,445
Gross carrying amount at December 31, 2021 P27,611,006 P407,755 P– P28,018,761


Parent Company
ECL Staging
Corporate and commercial lending 12–month ECL Lifetime ECL Lifetime ECL Total
Gross carrying amount as at January 1, 2021 P387,946,594 P32,994,569 P8,240,131 P429,181,294
;YHUZMLYZ!
*OHUNLZPU,(+Z
Gross carrying amount as at December 31, 2021 P421,975,891 P44,133,134 P6,613,097 P472,722,122
Parent Company
ECL Staging
Consumer lending 12–month ECL Lifetime ECL Lifetime ECL Total
;YHUZMLYZ!
*OHUNLZPU,(+Z
Total movements of carrying amount 5,921,047 105,453 (1,202,635) 4,823,865
Parent Company
ECL Staging
Trade-related lending 12–month ECL Lifetime ECL Lifetime ECL Total
Gross carrying amount as at January 1, 2021 P7,040,805 P1,012,598 P275,045 P8,328,448
;YHUZMLYZ!
*OHUNLZ,(+Z –
Total movements of carrying amount 3,870,391 (71,390) (47,590) 3,751,411
Gross carrying amount as at December 31, 2021 P10,911,196 P941,208 P227,455 P12,079,859
Parent Company
ECL Staging
Others 12–month ECL Lifetime ECL Lifetime ECL Total
Gross carrying amount as at January 1, 2021 P28,392 P– P29 P28,421
;YHUZMLYZ!
5L^ÄUHUJPHSHZZL[ZVYPNPUH[LK – –
*OHUNLZPU,(+Z –
Total movements of carrying amount (8,453) – 324 (8,129)
Gross carrying amount as at December 31, 2021 P19,939 P– P353 P20,292


Parent Company
ECL Staging
Loans and receivables – total 12–month ECL Lifetime ECL Lifetime ECL Total
;YHUZMLYZ!
*OHUNLZPU,(+Z
Parent Company
ECL Staging
Investment securities at amortized cost 12–month ECL Lifetime ECL Lifetime ECL Total
Gross carrying amount as at January 1, 2021 P190,270,184 P– P3,631,625 P193,901,809
;YHUZMLYZ!
*OHUNLZPU,(+Z –
Total movements of carrying amount 37,525,708 3,566,515 – 41,092,223
Parent Company
ECL Staging
Financial assets at FVOCI (debt securities) 12–month ECL Lifetime ECL Lifetime ECL Total
Gross carrying amount as at January 1, 2021 P17,733,151 P– P– P17,733,151
;YHUZMLYZ!
*OHUNLZPU,(+Z – –
Total movements of carrying amount 7,763,581 403,647 – 8,167,228
Gross carrying amount as at December 31, 2021 P25,496,732 P403,647 P– P25,900,379

*VTWHYH[P]LÄN\YLZMVY[OLTV]LTLU[VMNYVZZJHYY`PUNHTV\U[MVYHYLZOVÛILSV^!
Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
.YVZZJHYY`PUNHTV\U[H[1HU\HY` P P P P
;YHUZMLYZ!
*OHUNLZPU,(+Z
;V[HSTV]LTLU[ZVMJHYY`PUNHTV\U[
.YVZZJHYY`PUNHTV\U[H[+LJLTILY P P P P


Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
;YHUZMLYZ!
*OHUNLZPU,(+Z

Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
;YHUZMLYZ!
*OHUNLZPU,(+Z

*:[HNLJSHZZPÄJH[PVUVMUL^ÄUHUJPHSHZZL[ZVYPNPUH[LKWLY[HPUZ[V[OLZ[HNLHZVMLUKVM`LHY
Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
6[OLYs ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
.YVZZJHYY`PUNHTV\U[H[1HU\HY` P P– P P
;YHUZMLYZ!
*OHUNLZPU,(+Z

Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
;YHUZMLYZ!
*OHUNLZPU,(+Z


Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
0U]LZ[TLU[ZZLJ\YP[PLZH[HTVY[PaLKJVZ[ ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
.YVZZJHYY`PUNHTV\U[H[1HU\HY` P P P– P
;YHUZMLYZ!
.YVZZJHYY`PUNHTV\U[H[+LJLTILY P P– P P

Consolidated
,*3:[HNPUN
:[HNL :[HNL :[HNL
-PUHUJPHSHZZL[ZH[-=6*0KLI[ZLJ\YP[PLZ ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
.YVZZJHYY`PUNHTV\U[H[1HU\HY` P P– P– P
;YHUZMLYZ!
;V[HSTV]LTLU[ZVMJHYY`PUNHTV\U[ – –
.YVZZJHYY`PUNHTV\U[H[+LJLTILY P P– P– P

Parent Company
,*3:[HNPUN
:[HNL :[HNL :[HNL
.YVZZJHYY`PUNHTV\U[HZH[1HU\HY` P P P P
;YHUZMLYZ!
*OHUNLZPU,(+Z
.YVZZJHYY`PUNHTV\U[HZH[+LJLTILY P P P P

Parent Company
,*3:[HNPUN
:[HNL :[HNL :[HNL
;YHUZMLYZ!
*OHUNLZPU,(+Z


Parent Company
,*3:[HNPUN
:[HNL :[HNL :[HNL
;YHUZMLYZ!
*OHUNLZPU,(+Z

Parent Company
,*3:[HNPUN
:[HNL :[HNL :[HNL
6[OLYZ ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
.YVZZJHYY`PUNHTV\U[HZH[1HU\HY` P P– P P
;YHUZMLYZ!
5L^ÄUHUJPHSHZZL[ZVYPNPUH[LK – – – –
*OHUNLZPU,(+Z –
;V[HSTV]LTLU[ZVMJHYY`PUNHTV\U[ –
.YVZZJHYY`PUNHTV\U[HZH[+LJLTILY P P– P P

Parent Company
,*3:[HNPUN
:[HNL :[HNL :[HNL
;YHUZMLYZ!
*OHUNLZPU,(+Z

Parent Company
,*3:[HNPUN
:[HNL :[HNL :[HNL
0U]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[ ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
.YVZZJHYY`PUNHTV\U[HZH[1HU\HY` P P P– P
;YHUZMLYZ!
.YVZZJHYY`PUNHTV\U[HZH[+LJLTILY P P– P P


Parent Company
,*3:[HNPUN
:[HNL :[HNL :[HNL
-PUHUJPHSHZZL[ZH[-=6*0KLI[ZLJ\YP[PLZ ¶TVU[O,*3 3PML[PTL,*3 3PML[PTL,*3 Total
.YVZZJHYY`PUNHTV\U[HZH[1HU\HY` P P– P– P
;YHUZMLYZ!
;V[HSTV]LTLU[ZVMJHYY`PUNHTV\U[ – –
.YVZZJHYY`PUNHTV\U[HZH[+LJLTILY P P– P– P

>OPSL[OL.YV\WYLJVNUPaLZ[OYV\NO[OLZ[H[LTLU[VMPUJVTL[OLTV]LTLU[ZPU[OLL_WLJ[LKJYLKP[SVZZLZJVTW\[LK\ZPUN[OLTVKLSZ[OL
.YV\WHSZVJVTWSPLZ^P[O):7»ZYLN\SH[VY`YLX\PYLTLU[[VHWWYVWYPH[LHWVY[PVUVMP[ZYL[HPULKLHYUPUNZH[HUHTV\U[ULJLZZHY`[VIYPUN[V
H[SLHZ[[OLHSSV^HUJLMVYJYLKP[SVZZLZVUSVHUZ5V[L
Consolidated Parent
2021 2021
7YV]PZPVUMVY0TWHPYTLU[HUK
*YLKP[3VZZLZ P8,876,744 P P P7,679,877 P P
9L[HPULK,HYUPUNZ
appropriated 811,587 811,587
P9,688,331 P P P8,491,464 P P
17. DEPOSIT LIABILITIES
(ZVM+LJLTILYHUKHUKYLZWLJ[P]LS`VM[OL[V[HSKLWVZP[SPHIPSP[PLZVM[OL.YV\WHUKHUK

YLZWLJ[P]LS`VM[OL7HYLU[*VTWHU`HYLZ\IQLJ[[VWLYPVKPJPU[LYLZ[YLWYPJPUN;OLYLTHPUPUNKLWVZP[SPHIPSP[PLZILHYHUU\HSÄ_LKPU[LYLZ[YH[LZ
YHUNPUNMYVT[VPUMYVT[VPUHUKMYVT[VPU
0U[LYLZ[,_WLUZLVU+LWVZP[3PHIPSP[PLZ

2021 2021
+LTHUK P301,420 P P P266,605 P P
:H]PUNZ 1,556,758 1,495,056
Time 3,253,399 2,510,671
P5,111,577 P P P4,272,332 P P
):7 *PYJ\SHY 5V YLX\PYLZ YLZLY]LZ HNHPUZ[ KLWVZP[ SPHIPSP[PLZ (Z VM +LJLTILY HUK +\L MYVT ):7 HTV\U[PUN [V
PIPSSPVUHUKP IPSSPVUYLZWLJ[P]LS`MVY[OL.YV\WHUKPIPSSPVUHUKPIPSSPVUYLZWLJ[P]LS`MVY[OL7HYLU[*VTWHU`^LYL
ZL[HZPKLHZYLZLY]LZMVYKLWVZP[SPHIPSP[PLZWLYSH[LZ[YLWVY[Z\ITP[[LK[V[OL):7
6U4H`):7PZZ\LK*PYJ\SHY5V(S[LYUH[P]L*VTWSPHUJL^P[O[OL9LZLY]L9LX\PYLTLU[ZVM)HURZHUK5VU)HUR-PUHUJPHS
0UZ[P[\[PVUZ^P[O8\HZP)HURPUN-\UJ[PVUZ5)8)ZÔPJOWYV]PKLZ[OLMVSSV^PUNHSSV^HISLTVKLZVMHS[LYUH[P]LJVTWSPHUJL^P[O[OLYLX\PYLK
YLZLY]LZHNHPUZ[KLWVZP[HUKKLWVZP[SPHIPSP[PLZWYV]PKLK[OH[[OLMVSSV^PUNSVHUZ^LYLNYHU[LKYLUL^LKVYYLZ[Y\J[\YLKHM[LY4HYJO!
a. 7LZVKLUVTPUH[LKSVHUZ[OH[HYLNYHU[LK[VTPJYVZTHSSHUKTLKP\TLU[LYWYPZLZ4:4,Z
b. 7LZVKLUVTPUH[LKSVHUZ[OH[HYLNYHU[LK[VSHYNLLU[LYWYPZLZL_JS\KPUNIHURZHUK5)8)Z"WYV]PKLK[OH[SHYNLLU[LYWYPZLZHYLKPYLJ[S`
and adversely impacted by the Covid-19 outbreak
:\IZLX\LU[S`VU6J[VILY):7PZZ\LK*PYJ\SHY5VAmendment to the Alternative Compliance with the Reserve Requirements

VM)HURZHUK5VU)HUR-PUHUJPHS0UZ[P[\[PVUZ^P[O8\HZP)HURPUN-\UJ[PVUZ5)8)ZÔPJOZ[H[LZ[OH[HIHUR5)8)TH`JVU[PU\L[V\[PSPaL
WHZ[K\LVYUVUWLYMVYTPUN4:4,HUKSHYNLLU[LYWYPZLSVHUHZHS[LYUH[P]LJVTWSPHUJL^P[O[OLYLZLY]LYLX\PYLTLU[ZMVYHUHKKP[PVUHS[OPY[`
JHSLUKHYKH`ZMYVT[OLKH[L[OLSVHUILJVTLZWHZ[K\LVYUVUWLYMVYTPUNÔPJOL]LYJVTLZLHYSPLY
;OL\ZLVM4:4,SVHUZHZHSSV^HISLHS[LYUH[P]LJVTWSPHUJL^P[O[OLYLZLY]LYLX\PYLTLU[ZOHSSILH]HPSHISL[VIHURZ5)8)ZMYVT(WYPS
[V+LJLTILY ÔPSL[OL\ZLVMSVHUZ[VHSHYNLLU[LYWYPZLHZHSSV^HISLHS[LYUH[P]LJVTWSPHUJL^P[O[OLYLZLY]LYLX\PYLTLU[Z
ZOHSSILH]HPSHISL[VIHURZ5)8)ZMYVT4H` [V+LJLTILY
(ZVM+LJLTILYHUK[OL.YV\WPZPUJVTWSPHUJL^P[O[OLYLZLY]LYLX\PYLTLU[
3VUN;LYT5LNV[PHISL*LY[PÄJH[LZVM+LWVZP[Z3;5*+
6U(\N\Z[[OL)6+VM[OL7HYLU[*VTWHU`HWWYV]LK[OLPZZ\HUJLVM3VUN;LYT5LNV[PHISL*LY[PÄJH[LZVM+LWVZP[Z3;5*+VM\W
to PIPSSPVUPU[YHUJOLZVMPIPSSPVU[VPIPSSPVULHJOHUK^P[O[LUVYZYHUNPUNMYVT[V`LHYZ[VZ\WWVY[[OL.YV\W»ZZ[YH[LNPJ
PUP[PH[P]LZHUKI\ZPULZZNYV^[O6U6J[VILY[OL4VUL[HY`)VHYKVM[OL):7HWWYV]LK[OL3;5*+PZZ\HUJLZ6U5V]LTILY
[OL7HYLU[*VTWHU`PZZ\LK[OLÄYZ[[YHUJOLH[WHY^P[OHNNYLNH[LWYPUJPWHSHTV\U[VMP IPSSPVUK\L4H`;OL3;5*+Z
ILHYHÄ_LKJV\WVUYH[LVMWLYHUU\TWH`HISLX\HY[LYS`PUHYYLHYZ:\IQLJ[[V):7Y\SLZ[OL.YV\WOHZ[OLVW[PVU[VWYLò[LYTPUH[L
[OL3;5*+ZHZHÔVSLI\[UV[PUWHY[WYPVY[VTH[\YP[`HUKVUHU`PU[LYLZ[WH`TLU[KH[LH[MHJL]HS\LWS\ZHJJY\LKPU[LYLZ[JV]LYPUN[OL
accrued and unpaid interest.
6U1\UL[OL7HYLU[*VTWHU`PZZ\LKH[WHY3;5*+Z^P[OHNNYLNH[LWYPUJPWHSHTV\U[VMPIPSSPVUK\L+LJLTILY
YLWYLZLU[PUN[OLZLJVUK[YHUJOLVM[OLPIPSSPVU
6U4HYJO[OL)VHYKVM+PYLJ[VYZHWWYV]LK[OL)HUR»Z7LZVM\UKPUNWYVNYHTVM\W[VPIPSSPVU]PHHJVTIPUH[PVUVM3VUN;LYT
5LNV[PHISL*LY[PÄJH[LVM;PTL+LWVZP[HUKVY9L[HPS)VUKZHUKVY*VTTLYJPHS7HWLYZ
6U1\S`[OL7HYLU[*VTWHU`PZZ\LKH[WHY3;5*+Z^P[OHNNYLNH[LWYPUJPWHSHTV\U[VMPIPSSPVUK\L1HU\HY`
YLWYLZLU[PUN[OLÄYZ[[YHUJOLVM[OLPIPSSPVU3;5*+HWWYV]LKI`):7VU1\UL;OL3;5*+ZILHYHÄ_LKJV\WVUYH[LVM
per annum, payable quarterly in arrears. The PIPSSPVU3;5*+WYVNYHTPZWHY[VM[OL.YV\W»ZM\UKPUNWYVNYHTHTV\U[PUN[VPIPSSPVU
;OL3;5*+ZHYLPUJS\KLK\UKLY[OLº;PTLKLWVZP[SPHIPSP[PLZ»HJJV\U[
18. BONDS PAYABLE
;OL7HYLU[*VTWHU`»ZIVUKZWH`HISLJVUZPZ[ZVM!
P)PSSPVU7LZV-P_LK9H[L)VUKZK\LPU
6U6J[VILY[OL7HYLU[*VTWHU`PZZ\LKPIPSSPVUWLZVÄ_LKYH[LIVUKZÔPJOILHYZHÄ_LKJV\WVUYH[LVMWLY
HUU\TWH`HISLX\HY[LYS`HUKPZK\LVU6J[VILY
6U1\S` [OL7HYLU[*VTWHU`PZZ\LKPIPSSPVUWLZVÄ_LKYH[LIVUKZÔPJOILHYZHÄ_LKJV\WVUYH[LVMWLYHUU\T
WH`HISLTVU[OS`HUKPZK\LVU1HU\HY`;OPZ^HZZL[[SLKPUHZZJOLK\SLK

):7*PYJ\SHY5VYLX\PYLZYLZLY]LZHNHPUZ[WLZVKLUVTPUH[LKIVUKZ(ZVM+LJLTILYHUK[OL.YV\WPZPUJVTWSPHUJL
with such regulation.
6U-LIY\HY`[OL7HYLU[*VTWHU`PZZ\LKPIPSSPVUWLZVÄ_LKYH[LIVUKZÔPJOILHYZHÄ_LKJV\WVUYH[LVMWLY
HUU\TWH`HISLTVU[OS`HUKPZK\LVU-LIY\HY`
This issuance is the second drawdown under the PIPSSPVUIVUKHUKJVTTLYJPHSWHWLYWYVNYHTLZ[HISPZOLKPU:LW[LTILY
4PSSPVU)VUKZ7H`HISL[V0-*
6U1\UL [OL7HYLU[*VTWHU`PZZ\LKHTPSSPVUZL]LU`LHYIVUK[V0U[LYUH[PVUHS-PUHUJL*VYWVYH[PVU;OLIVUKYLWYPJLZ
ZLTPHUU\HSS`HUKJHYYPLZHUPU[LYLZ[THYNPUVMIHZPZWVPU[ZV]LYTVU[O30)69
:OVY[S`[OLYLHM[LY[OL7HYLU[*VTWHU`LU[LYLKPU[VHZL]LU`LHYWH`Ä_LKYLJLP]LÅVH[PUN09:ZLL5V[L^P[O[OLZHTLWYPUJPWHS[LYTZ
[VOLKNL[OLL_WVZ\YL[V]HYPHISLJHZOÅV^WH`TLU[ZVU[OLÅVH[PUNYH[LIVUKZWH`HISLH[[YPI\[HISL[VPU[LYLZ[YH[LYPZR5V[L
;OL)VUK:\IZJYPW[PVU(NYLLTLU[JVU[HPUZJLY[HPUÄUHUJPHSJV]LUHU[Z^P[OÔPJO[OL7HYLU[*VTWHU`ZOV\SKJVTWS`K\YPUN[OL[LYTVM
[OL)VUKPUJS\KPUN[OLMVSSV^PUN!
9PZR>LPNO[LK*HWP[HS(KLX\HJ`9H[PVVMUV[SLZZ[OHU[LUWLYJLU["
,X\P[`[V(ZZL[Z9H[PVVMUV[SLZZ[OHUÄ]LWLYJLU["
(NNYLNH[L3HYNL,_WVZ\YLZ9H[PVVMUV[TVYL[OHUMV\YO\UKYLKWLYJLU["
6WLU*YLKP[,_WVZ\YLZ9H[PVVMUV[TVYL[OHU[^LU[`Ä]LWLYJLU["
-P_LK(ZZL[Z7S\Z,X\P[`7HY[PJPWH[PVUZ9H[PVVMUV[TVYL[OHU[OPY[`Ä]LWLYJLU["
(NNYLNH[L-VYLPNU,_JOHUNL9PZR9H[PVVMUV[TVYL[OHU[^LU[`Ä]LWLYJLU["
:PUNSL*\YYLUJ`-VYLPNU,_JOHUNL9PZR9H[PVVMUV[TVYL[OHU[LUWLYJLU["
0U[LYLZ[9H[L9PZR9H[PVVMUV[SLZZ[OHUULNH[P]L[^LU[`Ä]LWLYJLU[HUKUV[TVYL[OHU[^LU[`Ä]LWLYJLU["
(NNYLNH[L0U[LYLZ[9H[L9PZR9H[PVVMUV[SLZZ[OHUULNH[P]LÄM[`WLYJLU[HUKUV[TVYL[OHU[^LU[`WLYJLU["
6WLU-?7VZP[PVUVMVM8\HSPM`PUN*HWP[HSHUK<:+TPSSPVUÔPJOL]LYPZSV^LY
0UHKKP[PVU[OL7HYLU[*VTWHU`ZOV\SKHSZVJVTWS`^P[O[OLYLN\SH[VY`YLX\PYLTLU[ZYLSH[LK[V,JVUVTPJ.YV\W,_WVZ\YLHUK9LSH[LK
7HY[`,_WVZ\YLZL[I`[OL):7VY[OL)VUK:\IZJYPW[PVU(NYLLTLU[ÔPJOL]LYPZTVYLZ[YPUNLU[
5VUJVTWSPHUJLVM[OLZLVISPNH[PVUZTH`YLX\PYL[OL7HYLU[*VTWHU`[VWH`[OLIVUKPTTLKPH[LS`(ZVM+LJLTILYHUK
the Parent Company is in compliance with these covenants and regulatory requirements.
;OLTV]LTLU[ZPU[OL7HYLU[*VTWHU`»Z[V[HS\UHTVY[PaLKKPZJV\U[HUKKLI[PZZ\LJVZ[VM[OLHIV]LIVUKZWH`HISLMVSSV^Z!
2021
Beginning balance P137,772 P
(KKP[PVUZ 121,542
(TVY[PaH[PVU (83,022)
,UKPUNIHSHUJL P176,292 P
19. BILLS PAYABLE
;OL7HYLU[*VTWHU`»ZIPSSZWH`HISLJVUZPZ[VM!
2021
Interbank loans payable and securities sold under repurchase
agreements P65,697,274 P
):7YLKPZJV\U[PUN5V[L –
7YVTPZZVY`5V[LZ 109,000
P65,806,274 P
Interbank loans payable and securities sold under repurchase agreements
0U[LYIHURSVHUZWH`HISLJVUZPZ[ZVMZOVY[[LYTKVSSHYKLUVTPUH[LKIVYYV^PUNZVM[OL7HYLU[*VTWHU`^P[OHUU\HSPU[LYLZ[YHUNPUNMYVT
[VMYVT [VHUKMYVT[VPUHUK YLZWLJ[P]LS`
;OLJHYY`PUNHTV\U[VMMVYLPNUJ\YYLUJ`KLUVTPUH[LKPU]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[WSLKNLKI`[OL7HYLU[*VTWHU`HZJVSSH[LYHS
MVYP[ZPU[LYIHURIVYYV^PUNZHTV\U[LK[VPIPSSPVUHUKP IPSSPVUHZVM+LJLTILYHUKYLZWLJ[P]LS`;OLJHYY`PUN
HTV\U[VM[OLWLZVKLUVTPUH[LKPU]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[WSLKNLKI`[OL7HYLU[*VTWHU`HZJVSSH[LYHSMVYP[ZPU[LYIHUR
borrowings amounted to P IPSSPVUHUKPIPSSPVUHZVM+LJLTILYHUKYLZWLJ[P]LS`
;OLHNNYLNH[LMHPY]HS\LVMPU]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[WSLKNLKHZJVSSH[LYHSHTV\U[LK[VP IPSSPVUHUKPIPSSPVUHZ
VM+LJLTILYHUKYLZWLJ[P]LS`;OLHNNYLNH[LMHPY]HS\LVMÄUHUJPHSHZZL[ZH[-=6*0WSLKNLKHZJVSSH[LYHSHTV\U[LK[V
PIPSSPVUHUKUPSHZVM+LJLTILYHUKYLZWLJ[P]LS`
(ZVM+LJLTILYHUKTHYNPUKLWVZP[ZHTV\U[PUN[VP IPSSPVUHUKPIPSSPVUYLZWLJ[P]LS`HYLKLWVZP[LK^P[O]HYPV\Z
JV\U[LYWHY[PLZ[VTLL[[OLJVSSH[LYHSYLX\PYLTLU[ZMVYP[ZPU[LYIHURSVHUZWH`HISL
20. ACCRUED INTEREST AND OTHER EXPENSES

2021 2021
(JJY\LKWH`HISLMVYLTWSV`LLILULÄ[Z P1,841,197 P P1,841,197 P
(JJY\LKPU[LYLZ[WH`HISL 913,513 873,266
(JJY\LK[H_LZHUKV[OLYSPJLUZLZ 267,721 149,889
(JJY\LKV[OLYL_WLUZLZWH`HISL 1,723,430 1,461,074
P4,745,861 P P4,325,426 P
21. OTHER LIABILITIES

2021 2021
-PUHUJPHSSPHIPSP[PLZ
(JJV\U[ZWH`HISL P4,941,102 P P3,580,280 P
3LHZLSPHIPSP[PLZ5V[L 2,846,018 2,187,898
+\L[V7+0* 786,195 786,195
(JJLW[HUJLZWH`HISL 1,482,761 1,482,761
,_WLJ[LKJYLKP[SVZZLZVUVќIHSHUJLZOLL[L_WVZ\YLZ
5V[L 740,877 730,859
+\L[V[OL;YLHZ\YLYVM[OL7OPSPWWPULZ 345,945 313,569
6[OLYJYLKP[Z¶KVYTHU[ 336,777 336,777
4HYNPUKLWVZP[Z 626 626
4PZJLSSHULV\Z 1,050,140 329,893
12,530,441 9,748,858
5VUÄUHUJPHSSPHIPSP[PLZ
Withholding taxes payable 171,033 149,455
9L[PYLTLU[SPHIPSP[PLZ5V[L 10,613 – –
181,646 149,455
P12,712,087 P P9,898,313 P

(JJV\U[ZWH`HISLPUJS\KLZWH`HISLZ[VZ\WWSPLYZHUKZLY]PJLWYV]PKLYZHUKSVHUWH`TLU[ZHUKV[OLYJOHYNLZYLJLP]LKMYVTJ\Z[VTLYZPU
advance.
4PZJLSSHULV\ZTHPUS`PUJS\KLZZ\UKY`JYLKP[ZPU[LYVѝJLÅVH[P[LTZHUKKVYTHU[KLWVZP[HJJV\U[Z
22. OTHER OPERATING INCOME AND MISCELLANEOUS EXPENSES
:LY]PJL*OHYNLZ-LLZHUK*VTTPZZPVUZ
+L[HPSZVM[OPZHJJV\U[HYLHZMVSSV^Z!

2021 2021
:LY]PJLHUKJVSSLJ[PVUJOHYNLZ!
+LWVZP[Z P544,450 P P P544,450 P P
3VHUZ 1,108,531 21,252
9LTP[[HUJLZ 217,191 217,191
6[OLYZ 206,148 204,335
2,076,320 987,228
-LLZHUKJVTTPZZPVUZ 1,409,864 451,386
P3,486,184 P P P1,438,614 P P
;YHKPUNHUK:LJ\YP[PLZ.HPU¶5L[

2021 2021
-PUHUJPHSHZZL[ZH[-=6*0 P60,316 P40,937
-PUHUJPHSHZZL[ZKLZPNUH[LKH[
-=;735V[L 1,168 – – – –
/LSKòMVYò[YHKPUN5V[L (194,502) (220,693)
+LYP]H[P]LZ5V[L 69,013 69,013
(P64,005) (P110,743)
4PZJLSSHULV\Z0UJVTL

2021 2021
)HUJHZZ\YHUJL5V[L P432,082 P P P432,082 P P
+P]PKLUKZ5V[L 102,867 99,326
9LU[HSVMIHURWYLTPZLZJSHZZPÄLK
as investment properties 101,601 42,796
9LJV]LY`VMJOHYNLKVќHZZL[Z 107,585 92,033
9LU[HSVMZHML[`KLWVZP[IV_LZ 31,057 31,057
-\UK[YHUZMLYMLLZ 21,211 21,211
4PZJLSSHULV\ZPUJVTL
5V[LZHUK 466,438 400,226
P1,262,841 P P P1,118,731 P P
4PZJLSSHULV\Z,_WLUZLZ

2021 2021
0UMVYTH[PVU[LJOUVSVN` P1,349,236 P P P1,281,146 P P
:LY]PJLJOHYNLZ 142,951 142,894
3P[PNH[PVUZ 261,282 83,308
-YLPNO[ 63,662 45,844
)YVRLY»ZMLL 20,671 20,664
4LTILYZOPWMLLZHUKK\LZ 20,290 18,767
*SLHYPUNHUKWYVJLZZPUNMLL 12,376 12,376
4PZJLSSHULV\ZL_WLUZL 1,381,395 1,168,518
P3,251,863 P P P2,773,517 P P
23. MATURITY ANALYSIS OF ASSETS AND LIABILITIES
;OLMVSSV^PUN[HISLZWYLZLU[IV[O[OL.YV\W»ZHUK[OL7HYLU[*VTWHU`»ZHZZL[ZHUKSPHIPSP[PLZHZVM+LJLTILYHUKHUHSàLK
HJJVYKPUN[VÔL[OLY[OL`HYLL_WLJ[LK[VILYLJV]LYLKVYZL[[SLK^P[OPUVUL`LHYHUKIL`VUKVUL`LHYMYVT[OLYLZWLJ[P]LYLWVY[PUNKH[L!
Consolidated
2021
Within Over Within 6]LY
Twelve Months Twelve Months Total ;^LS]L4VU[OZ ;^LS]L4VU[OZ Total
Financial assets
Cash and other cash items P16,024,863 P– P16,024,863 P P– P
+\LMYVT):7 124,283,115 – 124,283,115 –
+\LMYVTV[OLYIHURZ 10,694,312 – 10,694,312 –
0U[LYIHURSVHUZYLJLP]HISLHUK:7<9( 36,559,224 – 36,559,224 –
-PUHUJPHSHZZL[ZH[-=;73 7,199,707 9,960 7,209,667
+LYP]H[P]L*VU[YHJ[Z+LZPNUH[LKHZ/LKNL – 1,139,233 1,139,233 – – –
-PUHUJPHSHZZL[ZH[-=6*0 135,486 28,536,754 28,672,240
0U]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[ 6,410,730 239,036,746 245,447,476
3VHUZHUKYLJLP]HISLZ¶NYVZZ 154,942,216 469,382,503 624,324,719
(JJY\LKPU[LYLZ[YLJLP]HISL¶NYVZZ 8,095,506 – 8,095,506 –
6[OLYHZZL[Z¶NYVZZ 2,878,020 1,173,372 4,051,392
367,223,179 739,278,568 1,106,501,747
1RQðQDQFLDODVVHWV
)HURWYLTPZLZM\YUP[\YLÄ_[\YLZ
HUKLX\PWTLU[òUL[VMHJJ\T\SH[LK
KLWYLJPH[PVUHUKHTVY[PaH[PVU P– P8,232,859 P 8,232,859 P– P P
0U]LZ[TLU[WYVWLY[PLZòUL[VMHJJ\T\SH[LK
depreciation – 4,646,821 4,646,821 –
+LMLYYLK[H_HZZL[Z – 4,624,981 4,624,981 –
Investments in associates – 796,519 796,519 –
Intangible assets – 4,100,891 4,100,891 –
.VVK^PSS – 839,748 839,748 –
6[OLYHZZL[Z¶NYVZZ 2,615,049 483,002 3,098,051
2,615,049 23,724,821 26,339,870
(Forward)

Consolidated
2021
(SSV^HUJLMVYPTWHPYTLU[HUKJYLKP[SVZZLZ
5V[L (20,261,713)
<ULHYULKKPZJV\U[Z5V[L (260,378)
(20,522,091)
1,112,319,526
Deposit liabilities P845,666,109 P17,193,788 P862,859,897 P P P
Bills payable 59,106,708 6,699,566 65,806,274 –
Bonds payable 22,596,330 19,877,228 42,473,558
Manager’s checks 1,854,606 – 1,854,606 –
Accrued interest and other expenses* 4,478,140 – 4,478,140 –
Derivative liabilities 998,721 – 998,721 –
Derivative Contracts Designated as Hedge – 162,399 162,399 –
Other liabilities 12,530,441 – 12,530,441 –
947,231,055 43,932,981 991,164,036
1RQðQDQFLDOOLDELOLWLHV
Accrued interest and other expenses 267,721 – 267,721 –
Deferred tax liabilities – 798,212 798,212 –
Income tax payable 785,091 – 785,091 –
Other liabilities 171,033 10,613 181,646
1,223,845 808,825 2,032,670
P948,454,900 P44,741,806 P993,196,706 P P P
(JJY\LKPU[LYLZ[HUKV[OLYL_WLUZLZPUJS\KLHJJY\LKPU[LYLZ[WH`HISLHUKHJJY\LKV[OLYL_WLUZLZWH`HISL5V[L
Parent Company
2021
Financial assets
Cash and other cash items P13,649,247 P– P13,649,247 P P– P
Due from BSP 114,528,773 – 114,528,773 –
Due from other banks 9,897,264 – 9,897,264 –
Interbank loans receivable and SPURA 35,030,997 – 35,030,997 –
Financial assets at FVTPL 5,447,844 9,960 5,457,804
Derivative Contracts Designated as Hedge – 1,139,233 1,139,233 – – –
Financial assets at FVOCI 15,616 26,508,096 26,523,712
Investment securities at amortized cost 3,602,648 235,631,306 239,233,954
Loans and receivables – gross 133,008,434 423,830,312 556,838,746
$FFUXHGLQWHUHVWUHFHLYDEOHĚJURVV 6,610,940 – 6,610,940 –
Other assets – gross 1,864,676 243,355 2,108,031
323,656,439 687,362,262 1,011,018,701
(Forward)
Parent Company
2021
1RQðQDQFLDODVVHWV
)HURWYLTPZLZM\YUP[\YLÄ_[\YLZ
HUKLX\PWTLU[òUL[VMHJJ\T\SH[LK
KLWYLJPH[PVUHUKHTVY[PaH[PVU P– P6,600,139 P6,600,139 P– P P
0U]LZ[TLU[WYVWLY[PLZòUL[VMHJJ\T\SH[LK
depreciation – 1,966,042 1,966,042 –
+LMLYYLK[H_HZZL[Z – 3,409,600 3,409,600 –
Investments in subsidiaries – 17,251,247 17,251,247 –
Investment in associates – 796,519 796,519 –
Intangible assets – 825,440 825,440 –
.VVK^PSS – 222,841 222,841 –
6[OLYHZZL[Z¶NYVZZ 1,612,868 300,391 1,913,259
1,612,868 31,372,219 32,985,087
(SSV^HUJLZMVYPTWHPYTLU[HUKJYLKP[SVZZLZ5V[L (16,641,724)
<ULHYULKKPZJV\U[Z5V[L (177,124)
(16,818,848)
P1,027,184,940 P
+LWVZP[SPHIPSP[PLZ P774,961,350 P7,257,550 P782,218,900 P P P
Bills payable 59,106,708 6,699,566 65,806,274 –
Bonds payable 22,596,330 19,877,228 42,473,558
4HUHNLY»ZJOLJRZ 1,466,359 – 1,466,359 –
(JJY\LKPU[LYLZ[HUKV[OLYL_WLUZLZ 4,175,537 – 4,175,537 –
+LYP]H[P]LSPHIPSP[PLZ 998,721 – 998,721 –
+LYP]H[P]L*VU[YHJ[Z+LZPNUH[LKHZ/LKNL – 162,399 162,399 –
6[OLYSPHIPSP[PLZ 9,748,858 – 9,748,858 –
873,053,863 33,996,743 907,050,606
5VUÄUHUJPHSSPHIPSP[PLZ
(JJY\LKPU[LYLZ[HUKV[OLYL_WLUZLs 149,889 – 149,889 –
Income tax payable 754,026 – 754,026 –
6[OLYSPHIPSP[PLZ 149,455 – 149,455 –
P1,053,370 – P1,053,370 –
P874,107,233 P33,996,743 P908,103,976 P P P
(JJY\LKPU[LYLZ[HUKV[OLYL_WLUZLZPUJS\KLHJJY\LKPU[LYLZ[WH`HISLHJJY\LKWH`HISLMVYLTWSV`LLILULÄ[ZHUKHJJY\LKV[OLYL_WLUZLZ
WH`HISL5V[L
24. EQUITY
;OL7HYLU[*VTWHU`»ZJHWP[HSZ[VJRJVUZPZ[ZVMHTV\U[ZPU[OV\ZHUKZL_JLW[MVYU\TILYVMZOHYLZ!
2021
Shares Amount :OHYLZ (TV\U[
*VTTVUZ[VJRòPWHY]HS\L
(\[OVYPaLK¶ZOHYLZ 3,300,000,000
Issued and outstanding
)HSHUJLH[ILNPUUPUNVM`LHY 2,685,899,812 P26,858,998 P
Issuance through stock grant 5,388,400 53,884 – –
)HSHUJLH[LUKVM`LHY 2,691,288,212 P26,912,882 P

;OL7HYLU[*VTWHU`ZOHYLZHYLSPZ[LKPU[OL7OPSPWWPUL:[VJR,_JOHUNL
;OLZ\TTHYPaLKPUMVYTH[PVUVU[OL7HYLU[*VTWHU`»ZYLNPZ[YH[PVUVMZLJ\YP[PLZ\UKLY[OL:LJ\YP[PLZ9LN\SH[PVU*VKLMVSSV^Z!
+H[LVM:,*(WWYV]HS (\[OVYPaLK:OHYLZ
(WYPS
6J[VILY
(\N\Z[
1\S`
:LW[LTILY
:LW[LTILY
:LW[LTILY
:LW[LTILY
(\N\Z[
:LW[LTILY
* 9LZ[H[LK[VZOV^[OLLќLJ[ZVM[OL[LUòMVYòVULZ[VJRZWSP[PU
(ZYLWVY[LKI`[OL7HYLU[*VTWHU`»Z[YHUZMLYHNLU[:[VJR;YHUZMLY:LY]PJL0UJ[OL[V[HSU\TILYVMZ[VJROVSKLYZPZHUK HZVM
+LJLTILYHUKYLZWLJ[P]LS`
Centennial Stock Grant

0USPNO[VM[OL7HYLU[*VTWHU`»Z[OHUUP]LYZHY`[OL)VHYKVM+PYLJ[VYZHWWYV]LKVU(\N\Z[H*LU[LUUPHS:[VJR.YHU[7SHU[V
issue common shares to eligible grantees.
;OL *LU[LUUPHS :[VJR .YHU[ 7SHU ^HZ HWWYV]LK HUK YH[PÄLK I` [OL Z[VJROVSKLYZ VU 6J[VILY HUK [OL HWWYV]HSZ VM [OL YLSL]HU[
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VM[OL.YV\W»ZYLN\SHYLTWSV`LLZHUKJLY[HPUV[OLYVѝJLYZHUKJVU[YHJ[\HSLTWSV`LLZHZVM(\N\Z[U\TILYPUNHYV\UK
6U(\N\Z[ [OL7OPSPWWPUL:[VJR,_JOHUNL7:,HWWYV]LK[OL7HYLU[*VTWHU`»ZHWWSPJH[PVU[VSPZ[JVTTVUZOHYLZ
^P[OHWHY]HS\LVMPWLYZOHYL[VJV]LY[OL.YV\W»Z*LU[LUUPHS:[VJR.YHU[7SHU;OL7HYLU[*VTWHU`PZZ\LKH[V[HSVM TPSSPVU
ZOHYLZVU:LW[LTILY;OPZYLZ\S[LKPUHUPUJYLHZLPU[OL7HYLU[*VTWHU`»Zº*HWP[HSZ[VJR»HUKº*HWP[HSWHPKPUL_JLZZVMWHY]HS\L»
totaling PTPSSPVUHZVM[OLNYHU[KH[L;OLKPќLYLUJLPU[OLMHPY]HS\LVM[OLZ[VJRNYHU[Z\WVUPZZ\HUJLVMZOHYLZPZYLJVNUPaLKPU[OL
WYVÄ[VYSVZZ
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+L[HPSZVM[OL7HYLU[*VTWHU`»ZJHZOKP]PKLUKWH`TLU[ZMVSSV^!
*HZO+P]PKLUKZ
+H[LVM +H[LVM +H[LVM *HZO+P]PKLUK

+LJSHYH[PVU 9LJVYK Payment 7LY:OHYL
4H` 4H` 1\UL
1\UL 1\S` 1\S`
4H` 4H` 4H`
4H` 4H` 1\UL
4H` 4H` 1\UL
4H` 4H` 1\UL
4H` (\N\Z[ :LW[LTILY
4H` :LW[LTILY 6J[VILY
4H` 1\S` (\N\Z[
:[VJR+P]PKLUKZ
+H[LVM +H[LVM +H[LVM :[VJR+P]PKLUK

+LJSHYH[PVU 9LJVYK Payment 7LY:OHYL
4HYJO 6J[VILY 5V]LTILY
4H` 4H` 1\UL
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4H` :LW[LTILY 6J[VILY
4H` 1\S` (\N\Z[
:\YWS\Z
;OLJVTW\[H[PVUVMZ\YWS\ZH]HPSHISLMVYKP]PKLUKKLJSHYH[PVUPUHJJVYKHUJL^P[O:,*4LTVYHUK\T*PYJ\SHY5VPZZ\LKPU+LJLTILY
KPќLYZ[VHJLY[HPUL_[LU[MYVT[OLJVTW\[H[PVUMVSSV^PUN):7N\PKLSPULZ
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underlying land.
0U[OLJVUZVSPKH[LKÄUHUJPHSZ[H[LTLU[ZHWVY[PVUVM[OL.YV\W»ZZ\YWS\ZJVYYLZWVUKPUN[V[OLUL[LHYUPUNZVM[OLZ\IZPKPHYPLZHUKHZZVJPH[LZ
amounting to PIPSSPVUHUKPIPSSPVUHZVM+LJLTILYHUKYLZWLJ[P]LS`PZUV[H]HPSHISLMVYKP]PKLUKKLJSHYH[PVU;OL
HJJ\T\SH[LKLX\P[`PUUL[LHYUPUNZILJVTLZH]HPSHISLMVYKP]PKLUKZ\WVUKLJSHYH[PVUHUKYLJLPW[VMJHZOKP]PKLUKZMYVT[OLPU]LZ[LLZ
9LZLY]LZ
0UJVTWSPHUJL^P[O):7YLN\SH[PVUZVM[OL7HYLU[*VTWHU`»ZWYVÄ[MYVT[Y\Z[I\ZPULZZPZHWWYVWYPH[LK[VZ\YWS\ZYLZLY]L;OPZ
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HSSV^HUJLMVYJYLKP[SVZZLZVUSVHUZ5V[L
Capital Management
;OLWYPTHY`VIQLJ[P]LZVM[OL.YV\W»ZJHWP[HSTHUHNLTLU[HYL[VLUZ\YL[OH[P[JVTWSPLZ^P[OL_[LYUHSS`PTWVZLKJHWP[HSYLX\PYLTLU[ZHUK
[OH[P[THPU[HPUZZ[YVUNJYLKP[YH[PUNZHUKOLHS[O`JHWP[HSYH[PVZPUVYKLY[VZ\WWVY[P[ZI\ZPULZZHUK[VTH_PTPaLZOHYLOVSKLYZ»]HS\L
;OL.YV\WTHUHNLZP[ZJHWP[HSZ[Y\J[\YLHUKTHRLZHKQ\Z[TLU[Z[VP[PUSPNO[VMJOHUNLZPULJVUVTPJJVUKP[PVUZHUK[OLYPZRJOHYHJ[LYPZ[PJZ
VMP[ZHJ[P]P[PLZ0UVYKLY[VTHPU[HPUVYHKQ\Z[[OLJHWP[HSZ[Y\J[\YL[OL.YV\WTH`HKQ\Z[[OLHTV\U[VMKP]PKLUKWH`TLU[[VZOHYLOVSKLYZ
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VU[OLHTV\U[VM[OL7HYLU[*VTWHU`»Z\UPTWHPYLKJHWP[HSYLN\SH[VY`JHWP[HSHZYLWVY[LK[V[OL):7;OPZPZKL[LYTPULKVU[OLIHZPZVM
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ILSLZZ[OHUMVYIV[OZVSVIHZPZOLHKVѝJLHUKIYHUJOLZHUKJVUZVSPKH[LKIHZPZ7HYLU[*VTWHU`HUKZ\IZPKPHYPLZLUNHNLKPU
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6U(\N\Z[[OL):7\UKLY):7*PYJ\SHY5VPZZ\LK[OLWYLZJYPILKN\PKLSPULZPTWSLTLU[PUN[OLYL]PZLKYPZRòIHZLKJHWP[HS
HKLX\HJ`MYHTL^VYRMVY[OL7OPSPWWPULIHURPUNZ`Z[LT[VJVUMVYT[V)HZLS00JHWP[HSHKLX\HJ`MYHTL^VYR;OL):7N\PKLSPULZ[VVRLќLJ[
VU1\S`;OLYLHM[LYIHURZ^LYLYLX\PYLK[VJVTW\[L[OLPY*(9\ZPUN[OLZLN\PKLSPULZ

:[HUKHYKPaLKJYLKP[YPZR^LPNO[Z^LYL\ZLKPU[OLJYLKP[HZZLZZTLU[VMHZZL[L_WVZ\YLZ;OPYKWHY[`JYLKP[HZZLZZTLU[Z^LYLIHZLK
VU YH[PUNZ I` PU[LYUH[PVUHS JYLKP[ HZZLZZTLU[ HNLUJPLZ :[HUKHYK 7VVY»Z 4VVK`»Z HUK -P[JO HUK ):7YLJVNUPaLK KVTLZ[PJ JYLKP[
HZZLZZTLU[HNLUJPLZZ\JOHZ7OPS9H[PUNZ7LY):7N\PKLSPULZKVTLZ[PJKLI[PZZ\HUJLZTHÌLYH[LKI`)HUNRV:LU[YHSYLJVNUPaLK
domestic credit assessment agencies or by international credit assessment agencies which have developed a national rating system
HJJLW[HISL[V[OL)HUNRV:LU[YHS0U[LYUH[PVUHSS`PZZ\LKKLI[VISPNH[PVUZZOHSSILYH[LKI`)HUNRV:LU[YHSYLJVNUPaLKPU[LYUH[PVUHSJYLKP[
assessment agencies only.
6U1HU\HY`[OL):7PZZ\LK*PYJ\SHY5V)HZLS0000TWSLTLU[PUN.\PKLSPULZVU4PUPT\T*HWP[HS9LX\PYLTLU[ZÔPJOWYV]PKLZ
[OL PTWSLTLU[PUN N\PKLSPULZ VU [OL YL]PZLK YPZRòIHZLK JHWP[HS HKLX\HJ` MYHTL^VYR WHY[PJ\SHYS` VU [OL TPUPT\T JHWP[HS HUK KPZJSVZ\YL
YLX\PYLTLU[ZMVY\UP]LYZHSIHURZHUKJVTTLYJPHSIHURZHZ^LSSHZ[OLPYZ\IZPKPHYÌHURZHUKX\HZPòIHURZPUHJJVYKHUJL^P[O[OL)HZLS000
Z[HUKHYKZ;OLJPYJ\SHY[VVRLќLJ[VU1HU\HY`
;OL*PYJ\SHYZL[ZV\[HTPUPT\T*VTTVU,X\P[`;PLY*,;YH[PVVMHUK;PLYJHWP[HSYH[PVVM0[HSZVPU[YVK\JLZHJHWP[HS

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this ratio shall be maintained at all times.
-\Y[OLYL_PZ[PUNJHWP[HSPUZ[Y\TLU[ZHZVM+LJLTILYÔPJOKVUV[TLL[[OLLSPNPIPSP[`JYP[LYPHMVYJHWP[HSPUZ[Y\TLU[Z\UKLY[OL
YL]PZLKJHWP[HSMYHTL^VYRZOHSSUVSVUNLYILYLJVNUPaLKHZJHWP[HS\WVU[OLLќLJ[P]P[`VM)HZLS000*HWP[HSPUZ[Y\TLU[ZPZZ\LK\UKLY):7
*PYJ\SHY5VZ HUK[OLJPYJ\SHYZHTLUKPUN[OLKLÄUP[PVUVMX\HSPM`PUNJHWP[HSWHY[PJ\SHYS`VU/ÌYPK;PLYHUK3V^LY;PLYJHWP[HSZ
Z[HY[PUN1HU\HY`HUKILMVYL[OLLќLJ[P]P[`VM):7*PYJ\SHY5VZOHSSILYLJVNUPaLKHZX\HSPM`PUNJHWP[HS\U[PS+LJLTILY
0UHKKP[PVU[VJOHUNLZPUTPUPT\TJHWP[HSYLX\PYLTLU[Z[OPZ*PYJ\SHYHSZVYLX\PYLZ]HYPV\ZYLN\SH[VY`HKQ\Z[TLU[ZPU[OLJHSJ\SH[PVU
VMX\HSPM`PUNJHWP[HS
6U(WYPS[OL):7PZZ\LK):74LTVYHUK\T5V4Relaxation in the Credit Risk Weight for Loans to MSMEs under the
BSP’s Risk –Based Capital Adequacy Framework,ÔPJOWYV]PKLZ[LTWVYHY`YLSH_H[PVUPU[OLHZZPNULKJYLKP[YPZR^LPNO[MVYSVHUZ[VTPJYV
ZTHSSHUKTLKP\TLU[LYWYPZLZ4:4,ZMVYW\YWVZLZVMJVTW\[PUNJVTWSPHUJL^P[O[OL):7»Z9PZR)HZLK*HWP[HS(KLX\HJ`-YHTL^VYRZ
;OLMVSSV^PUNL_WVZ\YLZ[V4:4,ZHZKLÄULK\UKLY)HZLS000ZOHSSILHZZPNULKHJYLKP[YPZR^LPNO[VMWLYJLU[!
H 4:4,L_WVZ\YLZ[OH[TLL[[OLJYP[LYPHVMX\HSPÄLK4:4,WVY[MVSPVHUK
I *\YYLU[4:4,L_WVZ\YLZ[OH[KVUV[X\HSPM`HZHOPNOS`KP]LYZPÄLK4:4,WVY[MVSPV
;OLMVYLNVPUNWYV]PZPVU\UKLY):74LTVYHUK\T5V4ZOHSSHWWS`\U[PS+LJLTILY/V^L]LYP[^HZL_[LUKLK\U[PS
+LJLTILYI`[OLZ\IZLX\LU[PZZ\HUJLVM):74LTVYHUK\T5V4,_[LUZPVUVM):77Y\KLU[PHS9LSPLM4LHZ\YLZ
;OL*(9VM[OL.YV\WHUK[OL7HYLU[*VTWHU`HZVM+LJLTILYHUKHZYLWVY[LK[V[OL):7HYLZOVÛPU[OL[HISLILSV^

2021 2021
(Amounts in Million Pesos)
CET 1 Capital P116,675 P 113,954 P
3LZZ!9LN\SH[VY`(KQ\Z[TLU[Z 12,278 22,099
104,397 91,855
(KKP[PVUHS;PLY*HWP[HS Ě ò Ě ò
3LZZ!9LN\SH[VY`(KQ\Z[TLU[Z Ě ò Ě ò
Ě ò Ě ò
Net Tier 1 Capital 104,397 91,855
Tier 2 Capital 5,807 5,464
3LZZ!9LN\SH[VY`(KQ\Z[TLU[Z Ě ò Ě ò
Net Tier 2 Capital 5,807 5,464
Total Qualifying Capital P110,204 P P97,319 P
2021 2021
(Amounts in Million Pesos)
*YLKP[9>( P610,687 P P546,185 P
4HYRL[9>( 28,261 28,194
6WLYH[PVUHS9>( 60,599 50,603
;V[HS9>( P699,547 P P624,982 P
*,;JHWP[HSYH[PV 14.92% 14.70%

;OL.YV\WHUK[OL7HYLU[*VTWHUÒH]LJVTWSPLK^P[OHSSL_[LYUHSS`PTWVZLKJHWP[HSYLX\PYLTLU[Z[OYV\NOV\[[OLWLYPVK
;OLPZZ\HUJLVM):7*PYJ\SHY5V JV]LYPUN[OL0*((7PU Z\WWSLTLU[Z[OL):7»ZYPZRòIHZLKJHWP[HSHKLX\HJ`MYHTL^VYR\UKLY

*PYJ\SHY5V0UJVTWSPHUJL^P[O[OPZJPYJ\SHY[OL7HYLU[*VTWHUÒHZHKVW[LKHUKKL]LSVWLKP[Z0*((7MYHTL^VYR[VLUZ\YL[OH[
HWWYVWYPH[LSL]LSHUKX\HSP[`VMJHWP[HSHYLTHPU[HPULKI`[OL.YV\W<UKLY[OPZMYHTL^VYR[OLHZZLZZTLU[VMYPZRZL_[LUKZIL`VUK[OL
7PSSHYZL[VMJYLKP[THYRL[HUKVWLYH[PVUHSYPZRZHUKVU[VV[OLYYPZRZKLLTLKTH[LYPHSI`[OL7HYLU[*VTWHU`;OLSL]LSHUKZ[Y\J[\YL
VMJHWP[HSHYLHZZLZZLKHUKKL[LYTPULKPUSPNO[VM[OL7HYLU[*VTWHU`»ZI\ZPULZZLU]PYVUTLU[WSHUZWLYMVYTHUJLYPZRZHUKI\KNL[HZ
^LSSHZYLN\SH[VY`LKPJ[Z):7UVYTHSS`YLX\PYLZZ\ITPZZPVUVM[OL0*((7KVJ\TLU[L]LY`4HYJO
/V^L]LYMVYPU]PL^VM[OLJ\YYLU[WHUKLTPJ[OL):7HKQ\Z[LK[OLKLHKSPULMVYZ\ITPZZPVUMYVT4HYJO[V1\UL
;OL.YV\WOHZJVTWSPLK^P[O[OPZYLX\PYLTLU[6U(WYPS[OL):7PZZ\LK*PYJ\SHY5VÔPJOYLX\PYLZ[OH[[OLYLJV]LY`WSHU
ZOHSSILKPZ[PUJ[HUKZLWHYH[LMYVT[OL0*((7KVJ\TLU[;OLZ\ITPZZPVUVMHZLWHYH[LYLJV]LY`WSHUZOHSSJVTTLUJLVU
Leverage Ratio
6U1\UL ):7PZZ\LKJPYJ\SHY5VÔPJOHWWYV]LK[OLN\PKLSPULZMVY[OLPTWSLTLU[H[PVUVM[OL)HZLS0003L]LYHNL9H[PVPU[OL
7OPSPWWPULZ;OL)HZLS0003L]LYHNL9H[PVPZKLZPNULK[VHJ[HZHZ\WWSLTLU[HY`TLHZ\YL[V[OLYPZRIHZLKJHWP[HSYLX\PYLTLU[Z;OLSL]LYHNL
YH[PVPU[LUKZ[VYLZ[YPJ[[OLI\PSK\WVMSL]LYHNLPU[OLIHURPUNZLJ[VY[VH]VPKKLZ[HIPSPaPUNKLSL]LYHNPUNWYVJLZZLZÔPJOJHUKHTHNL[OL
IYVHKLYÄUHUJPHSZ`Z[LTHUK[OLLJVUVT`3PRL^PZLP[YLPUMVYJLZ[OLYPZRIHZLKYLX\PYLTLU[Z^P[OHZPTWSLUVUYPZRIHZLK¸IHJRZ[VW¹
TLHZ\YL;OL)HZLS000SL]LYHNLYH[PVPZKLÄULKHZ[OLJHWP[HSTLHZ\YL[OLU\TLYH[VYKP]PKLKI`[OLL_WVZ\YLTLHZ\YL[OLKLUVTPUH[VY
;OLTVUP[VYPUNVM[OLSL]LYHNLYH[PV^HZPTWSLTLU[LKHZH7PSSHYTPUPT\TYLX\PYLTLU[LќLJ[P]LVU1\S`
;OL)39VM[OL.YV\WHUK[OL7HYLU[*VTWHU`HZVM+LJLTILYHUKHZYLWVY[LK[V[OL):7HYLZOVÛPU[OL[HISLILSV^

2021 2021
(TV\U[ZPU4PSSPVU7LZVZ
Tier 1 Capital P104,397 P P91,855 P
Exposure Measure 1,058,243 959,770
Leverage Ratio 9.87% 9.57%
Liquidity Coverage Ratio

6U-LIY\HY`):7PZZ\LKJPYJ\SHYUV ÔPJOHWWYV]LK[OLH[[HJOLKSPX\PKP[`Z[HUKHYKZÔPJOPUJS\KLN\PKLSPULZVUSPX\PKP[`
JV]LYHNLYH[PV3*9HUK3*9KPZJSVZ\YLZ[HUKHYKZ[OH[HYLJVUZPZ[LU[^P[O[OL)HZLS000MYHTL^VYR)HURZHYLYLX\PYLK[VHKVW[)HZLS000»Z
3PX\PKP[`*V]LYHNL9H[PV3*9HPTLKH[Z[YLUN[OLUPUN[OLZOVY[[LYTSPX\PKP[`WVZP[PVUVMIHURZ;OPZYLX\PYLZIHURZ[VOH]LH]HPSHISL/PNO
8\HSP[`3PX\PK(ZZL[Z/83([VTLL[HU[PJPWH[LKUL[JHZOV\[ÅV^MVYHKH`WLYPVK\UKLYZ[YLZZJVUKP[PVUZ;OLZ[HUKHYKWYLZJYPILZ[OH[
\UKLYHUVYTHSZP[\H[PVU[OL]HS\LVM[OLSPX\PKP[`YH[PVILUVSV^LY[OHUVUHKHPSÌHZPZILJH\ZL[OLZ[VJRVM\ULUJ\TILYLK/83(
PZPU[LUKLK[VZLY]LHZHKLMLUZLHNHPUZ[WV[LU[PHSVUZL[VMSPX\PKP[`Z[YLZZ(ZVM+LJLTILYHUK[OL3*9PUZPUNSLJ\YYLUJ`
PZ HUKYLZWLJ[P]LS`MVY[OL.YV\WHUK HUKYLZWLJ[P]LS`MVY[OL7HYLU[*VTWHU`

5L[:[HISL-\UKPUN9H[PV
6U4H`):7PZZ\LK*PYJ\SHY5VÔPJOHWWYV]LK[OLPTWSLTLU[PUNN\PKLSPULZVU[OLHKVW[PVUVM[OL)HZLS000-YHTL^VYR
VU3PX\PKP[`:[HUKHYKZ5L[:[HISL-\UKPUN9H[PV5:-9)HURZHYLYLX\PYLK[VHKVW[)HZLS000»Z5L[:[HISL-\UKPUN9H[PV5:-9HPTLK[V
WYVTV[LSVUN[LYTYLZPSPLUJLVMIHURZHNHPUZ[SPX\PKP[`YPZR)HURZZOHSSTHPU[HPUHZ[HISLM\UKPUNWYVÄSLPUYLSH[PVU[V[OLJVTWVZP[PVUVMP[Z
HZZL[ZHUKVќIHSHUJLZOLL[HJ[P]P[PLZ;OL5:-9JVTWSLTLU[Z[OL3PX\PKP[`*V]LYHNL9H[PV3*9ÔPJOWYVTV[LZZOVY[[LYTYLZPSPLUJL
VMH)HUR»ZSPX\PKP[`WYVÄSL;OL.YV\WZ[HY[LKTVUP[VYPUNHUKYLWVY[PUN5:-9[V[OL):7PU (ZVM+LJLTILYHUK[OL
5:-9PZHUK YLZWLJ[P]LS`MVY[OL.YV\WHUKHUKYLZWLJ[P]LS`MVY[OL7HYLU[*VTWHU`
25. RETIREMENT PLAN
;OL.YV\WOHZZLWHYH[LM\UKLKUVUJVU[YPI\[VY`KLÄULKILULÄ[YL[PYLTLU[WSHUZJV]LYPUNZ\IZ[HU[PHSS`HSSP[ZVѝJLYZHUKYLN\SHYLTWSV`LLZ
;OLYL[PYLTLU[WSHUZHYLHKTPUPZ[LYLKI`[OL7HYLU[*VTWHU`»Z;Y\Z[.YV\WÔPJOHJ[ZHZ[OL[Y\Z[LLVM[OLWSHUZ<UKLY[OLZLYL[PYLTLU[
WSHUZ HSS JV]LYLK VѝJLYZ HUK LTWSV`LLZ HYL LU[P[SLK [V JHZO ILULÄ[Z HM[LY ZH[PZM`PUN JLY[HPU HNL HUK ZLY]PJL YLX\PYLTLU[Z ;OL SH[LZ[
HJ[\HYPHS]HS\H[PVUZ[\KPLZVM[OLYL[PYLTLU[WSHUZ^LYLTHKLHZVM+LJLTILY
;OL.YV\W»ZHUU\HSJVU[YPI\[PVU[V[OLYL[PYLTLU[WSHUJVUZPZ[ZVMHWH`TLU[JV]LYPUN[OLJ\YYLU[ZLY]PJLJVZ[\UM\UKLKHJ[\HYPHSHJJY\LK
SPHIPSP[`HUKPU[LYLZ[VUZ\JO\UM\UKLKHJ[\HYPHSSPHIPSP[`
;OLHTV\U[ZVMUL[KLÄULKILULÄ[HZZL[PU[OLIHSHUJLZOLL[ZMVSSV^!

2021 2021
5L[WSHUHZZL[Z5V[L P483,001 P P300,391 P
9L[PYLTLU[SPHIPSP[PLZ5V[L (10,613) – –
P472,388 P P300,391
;OLTV]LTLU[ZPU[OLKLÄULKILULÄ[HZZL[WYLZLU[]HS\LVMKLÄULKILULÄ[VISPNH[PVUHUKMHPY]HS\LVMWSHUHZZL[ZMVSSV^!
Consolidated
Remeasurements in OCI
Net benefit cost Return on Actuarial
plan assets Actuarial changes Actuarial
(excluding changes arising arising changes arising
amount from from changes from changes Total
January 1, Current Net pension included in experience in financial in demographic remeasurements Contribution December 31,
2021 service cost Net interest expense* Benefits paid net interest) adjustments assumptions assumptions in OCI by employer 2021
(j) = f + g + (l) = a + d +
(a) (b) (c) (d) = b + c (e) (f) (g) (h) (i) h+i (k) e+j+k
-HPY]HS\LVMWSHU
assets P5,204,266 P− P145,943 P145,943 (P281,350) P188,056 P− P− P− P188,056 P345,191 P5,602,106
7YLZLU[]HS\LVM
KLÄULKILULÄ[
obligation 5,088,757 561,738 142,897 704,635 (281,350) − 17,139 (417,862) 18,399 (382,324) − 5,129,718
5L[KLÄULKILULÄ[
asset P115,509 (P561,738) P3,046 (P558,692) P− P188,056 (P17,139) P417,862 (P18,399) P570,380 P345,191 P472,388
7YLZLU[LK\UKLY*VTWLUZH[PVUHUKMYPUNLILULÄ[ZPU[OLZ[H[LTLU[ZVMPUJVTL
Consolidated
9LTLHZ\YLTLU[ZPU6*0
5L[ILULÄ[JVZ[ 9L[\YUVU
plan assets (J[\HYPHS (J[\HYPHS (J[\HYPHS
(excluding changes arising changes arising changes arising
amount MYVT MYVTJOHUNLZPU MYVTJOHUNLZPU Total
1HU\HY` Current 5L[WLUZPVU included in experience ÄUHUJPHS demographic remeasurements Contribution +LJLTILY
service cost 5L[PU[LYLZ[ expense* )LULÄ[ZWHPK net interest) HKQ\Z[TLU[Z assumptions assumptions PU6*0 by employer
Q$MN S$HK
(a) (b) (c) K$IJ (e) M (g) (h) (i) OP (k) LQR
-HPY]HS\LVMWSHU
assets P Pò P P (P (P Pò Pò Pò (P P P
7YLZLU[]HS\LVM
KLÄULKILULÄ[
obligation (P ò ò
5L[KLÄULKILULÄ[
asset P (P P (P (P (P P (P P (P P P
Parent Company
Remeasurements in OCI
Return on Actuarial
plan assets Actuarial changes Actuarial
Net benefit cost
Transfer amount from from changes from changes Total
January 1, Current Net pension from included in experience in financial in demographic remeasurements Contribution December 31,
2021 service cost Net interest expense* Affiliates Benefits paid net interest) adjustments assumptions assumptions in OCI by employer 2021
(j) = f + g + (l) = a + d +
(a) (b) (c) (d) = b + c (e) (e) (f) (g) (h) (i) h+i (k) e+j+k
Fair value of plan
assets P4,562,287 P− P129,113 P129,113 P− (P268,950) P179,596 P− P− P− P179,596 P260,000 P4,862,046
Present value of
GHðQHGEHQHðW
obligation 4,529,678 461,787 128,190 589,977 − (268,950) − 23,864 (339,777) 26,863 (289,050) − 4,561,655
1HWGHðQHG
EHQHðWDVVHW P32,609 (P461,787) P923 (P460,864) P− P− P179,596 (P23,864) P339,777 (P26,863) P468,646 P260,000 P300,391
Parent Company
9LTLHZ\YLTLU[ZPU6*0
9L[\YUVU (J[\HYPHS
plan assets (J[\HYPHS changes (J[\HYPHS
5L[ILULÄ[JVZ[ ;YHUZMLY amount MYVT MYVTJOHUNLZ MYVTJOHUNLZ Total
1HU\HY` Current 5L[WLUZPVU MYVT included in experience PUÄUHUJPHS in demographic remeasurements in Contribution +LJLTILY
service cost 5L[PU[LYLZ[ expense* (ѝSPH[LZ )LULÄ[ZWHPK net interest) HKQ\Z[TLU[Z assumptions assumptions 6*0 by employer
S$HK
(a) (b) (c) K$IJ (e) (e) M (g) (h) (i) Q$MNOP (k) LQR
-HPY]HS\LVMWSHU
assets P Pò P P Pò (P (P Pò Pò Pò (P P P
7YLZLU[]HS\LVM
KLÄULKILULÄ[
obligation ò ò
5L[KLÄULKILULÄ[
asset P (P P (P (P (P (P P (P P (P P P
;OL.YV\WHUK[OL7HYLU[*VTWHU`PZYLJVTTLUKLK[VJVU[YPI\[L[VP[ZKLÄULKILULÄ[WLUZPVUWSHUPUHTV\U[PUN[VPTPSSPVU
and PTPSSPVUYLZWLJ[P]LS`
0UHUK[OLTHQVYJH[LNVYPLZVMWSHUHZZL[ZHZHWLYJLU[HNLVM[OLMHPY]HS\LVM[V[HSWSHUHZZL[ZHYLHZMVSSV^Z!

2021 2021
7HYLU[*VTWHU`ZOHYLZ5V[L 25.33% 29.19%
,X\P[`PUZ[Y\TLU[Z 4.87% 3.02%
Cash and cash equivalents 0.08% 0.09%
+LI[PUZ[Y\TLU[Z 67.12% 67.70%
6[OLYHZZL[Z 2.60% 0.00%
100.00% 100.00%
;OLMVSSV^PUN[HISLZOV^Z[OLIYLHRKVÛVMMHPY]HS\LVM[OLWSHUHZZL[Z!

2021 2021
+LWVZP[ZPUIHURZ P4,207 4,172
8\V[LKKLI[ZLJ\YP[PLZ 3,135,600 P P2,776,713 P
8\V[LKLX\P[`ZLJ\YP[PLZ 272,770 146,879
Parent Company shares 1,419,060 1,419,060
0U]LZ[TLU[ZPU\UP[PU]LZ[TLU[[Y\Z[M\UK 624,772 515,222
6[OLYHZZL[Z 145,697 – –
P5,602,106 P P4,862,046 P
0U]LZ[TLU[WYVWLY[PLZJVTWYPZLWYVWLY[PLZSVJH[LKPU4HUPSH

;OLWYPUJPWHSHJ[\HYPHSHZZ\TW[PVUZ\ZLKPUHUKPUKL[LYTPUPUN[OLYL[PYLTLU[HZZL[SPHIPSP[`MVY[OL.YV\W»ZHUK7HYLU[*VTWHU`»Z
YL[PYLTLU[WSHUZHYLZOVÛILSV^!
2021
Parent CBSI CIBI &%&Ě3&&, CBCC CBSC
+PZJV\U[YH[L!
1HU\HY` 2.83% 2.54% 2.36% 3.02% 2.54% 2.54%
+LJLTILY 4.67% 4.14% 4.14% 4.91% 4.35% 4.55%
:HSHY`PUJYLHZLYH[L 6.00% 6.00% 6.00% 6.00% 6.00% 6.00%

Parent *):0 CIBI *)*ò7**0 CBCC *):*
+PZJV\U[YH[L!
1HU\HY`
+LJLTILY
:HSHY`PUJYLHZLYH[L
;OLZLUZP[P]P[`HUHS`ZPZILSVÔHZILLUKL[LYTPULKIHZLKVU[OLPTWHJ[VMYLHZVUHIS`WVZZPISLJOHUNLZVMLHJOZPNUPÄJHU[HZZ\TW[PVUVU
[OLKLÄULKILULÄ[SPHIPSP[`HZVM[OLLUKVM[OLYLWVY[PUNWLYPVKHZZ\TPUNHSSV[OLYHZZ\TW[PVUZ^LYLOLSKJVUZ[HU[!
December 31, 2021 Parent CBSI CIBI &%&Ě3&&, CBCC CBSC

+PZJV\U[YH[L
(P106,672) (P24,926) (P793) (P3,850) (P1,701) (P407)
ò 162,386 31,463 1,144 5,392 2,045 504
:HSHY`PUJYLHZLYH[L
148,933 28,909 1,048 4,950 1,947 479
ò (100,531) (23,610) (764) (3,708) (1,662) (397)
+LJLTILY Parent *):0 CIBI *)*ò7**0 CBCC *):*

+PZJV\U[YH[L
(P (P (P (P (P (P
ò
:HSHY`PUJYLHZLYH[L

ò (198,188)
;OL^LPNO[LKH]LYHNLK\YH[PVUPU`LHYZVM[OLKLÄULKILULÄ[VISPNH[PVUHYLWYLZLU[LKILSV^!
December 31, +LJLTILY

2021
Parent Company 8 8
*):0 5
CIBI 5
*)*ò7**0 12 11
CBCC 6
*):* 7
;OLTH[\YP[`HUHS`ZLZVM[OL\UKPZJV\U[LKILULÄ[WH`TLU[ZHZVM+LJLTILYHUKHYLHZMVSSV^Z!
December 31, 2021 Parent CBSI CIBI &%&Ě3&&, CBCC CBSC

1 year and less P1,300,595 P21,773 P– P5,110 P– P–
4VYL[OHU`LHY[V`LHYZ 1,595,647 81,504 5,650 35,704 – –
4VYL[OHU`LHYZ[V`LHYZ 2,432,513 438,804 18,259 33,146 – 1,289
4VYL[OHU`LHYZ [V`LHYZ 3,094,497 786,403 4,349 154,175 56,832 6,510
4VYL[OHU`LHYZ [V`LHYZ 5,565,237 835,852 15,653 224,592 31,960 13,212
4VYL[OHU`LHYZ 26,551,956 8,797,118 664,878 1,166,267 472,706 205,038
+LJLTILY Parent *):0 CIBI *)*ò7**0 CBCC *):*
1 year and less P P P– P– P– P–
4VYL[OHU`LHY[V`LHYZ – –
4VYL[OHU`LHYZ[V`LHYZ –
4VYL[OHU`LHYZ [V`LHYZ
4VYL[OHU`LHYZ [V`LHYZ
4VYL[OHU`LHYZ
;OLKLÄULKILULÄ[WSHUL_WVZLZ[OL.YV\WHUK[OL7HYLU[*VTWHU`[VHJ[\HYPHSYPZRZZ\JOHZSVUNL]P[`YPZRPU]LZ[TLU[YPZRTHYRL[YPZR
and salary risk.
26. DERIVATIVE FINANCIAL INSTRUMENTS
6JJHZPVUHSS`[OL7HYLU[*VTWHU`LU[LYZPU[VMVY^HYKL_JOHUNLJVU[YHJ[ZHZHUHJJVTTVKH[PVU[VP[ZJSPLU[Z;OLZLKLYP]H[P]LZHYLUV[
KLZPNUH[LKHZHJJV\U[PUNOLKNLZ(ZVM+LJLTILYHUK[OLMHPY]HS\LZVM[OLZLKLYP]H[P]LZMVSSV^!
2021
Derivative Derivative +LYP]H[P]L +LYP]H[P]L
Asset Liability (ZZL[ 3PHIPSP[`
*\YYLUJ`MVY^HYKZ P 395,201 P 264,783 P P
0U[LYLZ[YH[LZ^HWZ09: 675,638 706,112
-\[\YLZ – 27,826 – –
Warrants 9,960 – –
P 1,080,799 P 998,721 P P
(ZVM+LJLTILYHUK[OLHNNYLNH[LUV[PVUHSHTV\U[VMV\[Z[HUKPUNMVY^HYKZHUKP[Z^LPNO[LKH]LYHNLYH[LHYLHZMVSSV^Z!
2021
Notional Weighted 5V[PVUHS Weighted
Amount Average Rate (TV\U[ (]LYHNL9H[L
<:+VSSHY
Buy $687,896 50.52
:LSS $291,629 50.31
,\YV
Buy – – – –
:LSS €9,128 58.03 Á
:PUNHWVYL+VSSHY
:LSS – – :.+
5LÂLHSHUK+VSSHY
Buy NZD 10,628 34.77 – –
*HUHKPHU+VSSHY
Buy CAD 695 40.37 – –
(\Z[YHSPHU+VSSHY
:LSS AUD 10,750 36.99 – –

;OLHNNYLNH[LUV[PVUHSHTV\U[ZVM[OLV\[Z[HUKPUNM\[\YLZHZVM+LJLTILYHTV\U[LK[V<:TPSSPVU
;OLHNNYLNH[LUV[PVUHSHTV\U[ZVM[OLV\[Z[HUKPUN09:HZVM+LJLTILYHUKHYLHZMVSSV^Z!
2021
Notional Derivative Derivative 5V[PVUHS +LYP]H[P]L +LYP]H[P]L
Amount Asset Liability (TV\U[ (ZZL[ 3PHIPSP[`
Peso-
denominated
-P_LK9LJLP]LY P500,000 P1,572 P 1,511 P P P
-P_LK7H`LY 500,000 – 28,581 –
US dollar
denominated
-P_LK9LJLP]LY $184,000 666,807 – –
-P_LK7H`LY $187,000 7,259 676,019
P675,638 P706,111 P P
-HPY=HS\L*OHUNLZVM+LYP]H[P]LZ
;OLUL[TV]LTLU[ZPUMHPY]HS\LJOHUNLZVMKLYP]H[P]LPUZ[Y\TLU[ZHYLHZMVSSV^Z!
2021
)HSHUJLH[ILNPUUPUNVM`LHY (P79,893) (P
-HPY]HS\LJOHUNLZK\YPUN[OL`LHr (309,456)
5L[ZL[[SLK[YHUZHJ[PVUZ 471,427
)HSHUJLH[LUKVM`LHY P82,078 (P
0UJS\KLKPUÄUHUJPHSHZZL[ZH[-=;73
;OLUL[TV]LTLU[ZPU[OL]HS\LVM[OLKLYP]H[P]LZHYLWYLZLU[LKPU[OLZ[H[LTLU[ZVMPUJVTL\UKLY[OLMVSSV^PUNHJJV\U[Z!
2021

-VYLPNUL_JOHUNLNHPUSVZZ (P378,469) P P
;YHKPUNHUKZLJ\YP[PLZNHPUSVZZ5V[L 69,013
(P309,456) P P
5L[TV]LTLU[ZPU[OL]HS\LYLSH[LK[V09:HUKM\[\YLZ
6U1\UL [OL7HYLU[*VTWHU`LZ[HISPZOLKHTVUP[VYPUNWYVJLZZ[VWYVWLYS`HJJV\U[MVY[OLUL[TV]LTLU[ZPU[OL]HS\LVMMVYLPNU
L_JOHUNLJVU[YHJ[ZÔPJOWLY[HPU[VM\UKPUNHUK[YHKPUNHJ[P]P[PLZ
-\UKPUNHJ[P]P[PLZWLY[HPU[VHJ[P]P[PLZ\UKLY[HRLUI`[OL7HYLU[*VTWHU`[VVI[HPUM\UKZPUVULJ\YYLUJ`PUL_JOHUNLVMHUV[OLYJ\YYLUJ`
[OYV\NO[OL\ZLVMMVYLPNUL_JOHUNLKLYP]H[P]LZ-VYLPNUL_JOHUNLNHPUZSVZZLZPU[OL7HYLU[*VTWHU`»ZZ[H[LTLU[ZVMPUJVTLPUJS\KLK[OL
UL[TV]LTLU[ZPU[OL]HS\LVMMVYLPNUL_JOHUNLJVU[YHJ[ZHTV\U[PUN[VPTPSSPVUNHPUHUKP TPSSPVUNHPUMVYM\UKPUNHUK[YHKPUN
HJ[P]P[PLZYLZWLJ[P]LS`PUHUKPTPSSPVUSVZZHUKP TPSSPVUNHPUMVYM\UKPUNHUK[YHKPUNHJ[P]P[PLZYLZWLJ[P]LS`PU
0U[LYLZ[ PUJVTL VU 09: PU HUK HTV\U[LK [V P TPSSPVU P TPSSPVU HUK YLZWLJ[P]LS` ÔPSL PU[LYLZ[
L_WLUZLVU09:PUHUK HTV\U[LK[VPTPSSPVUPTPSSPVUHUKPTPSSPVUPU YLZWLJ[P]LS`
Derivative contracts designated as hedges

0U [OL7HYLU[*VTWHU`KLZPNUH[LKHUPU[LYLZ[YH[LZ^HWJVU[YHJ[09:^P[OHJVYYLZWVUKPUNUV[PVUHSHTV\U[VM<:TPSSPVU[V
OLKNL[OLJHZOÅV^]HYPHIPSP[`VMP[ZÅVH[PUNYH[LIVUKZWH`HISL;OL09:KLZPNUH[LKHZJHZOÅVÔLKNLOHZ[OLZHTLWYPUJPWHS[LYTZHZ
[OLOLKNLKIVUKZWH`HISL5V[L
6U1\UL[OL7HYLU[*VTWHU`KLZPNUH[LKHU09:^P[OHJVYYLZWVUKPUNUV[PVUHSHTV\U[VM<:TPSSPVU[VOLKNL[OLJHZOÅV^
]HYPHIPSP[`VMP[ZWVY[MVSPVVM;YLHZ\Y`[PTLKLWVZP[Z
6U6J[VILY[OL7HYLU[*VTWHU`KLZPNUH[LKHU09:^P[OHJVYYLZWVUKPUNUV[PVUHSHTV\U[VM<:TPSSPVU[VOLKNL[OLJHZO
ÅV^]HYPHIPSP[`VMP[ZWVY[MVSPVVM9L[HPS)HURPUN)\ZPULZZ:LNTLU[9))[PTLKLWVZP[Z
;OLMVSSV^PUN[HISLZOV^Z[OLZ\TTHY`VM[OLOLKNPUN[YHUZHJ[PVUZVM[OL7HYLU[*VTWHU`!
Derivative Assets Derivative Liability

Date of Hedge
Hedging Notional Designation
Hedged Item Instrument Amount 2021 2021
-SVH[PUNYH[LIVUKZ 9LJLP]LÅVH[
payable 7H`Ä_09: 1\UL P– P– P162,399 P
*\YYLU[HUKMVYLJHZ[LK
PZZ\HUJLVM;YLHZ\Y` 9LJLP]LÅVH[
time deposits 7H`Ä_09: 1\UL 480,133 – – –
*\YYLU[HUKMVYLJHZ[LK
PZZ\HUJLVM9)) 9LJLP]LÅVH[
time deposits 7H`Ä_09: 6J[VILY 659,100 – – –
Total P1,139,233 P– P162,399 P
(ZVM+LJLTILYHUK[OL7HYLU[*VTWHU`HZZLZZLK[OH[[OLOLKNPUNYLSH[PVUZOPWZHYLL_WLJ[LK[VILOPNOS`LќLJ[P]L
;OL HNNYLNH[L UL[ PU[LYLZ[ L_WLUZL VU [OL 09: KLZPNUH[LK HZ OLKNL HTV\U[LK [V P TPSSPVU PU P TPSSPVU PU HUK
PTPSSPVUPU
27. LEASE CONTRACTS
;OLSLHZLJVU[YHJ[ZHYLMVYWLYPVKZYHUNPUNMYVTVUL[V`LHYZMYVT[OLKH[LZVMJVU[YHJ[ZHUKHYLYLUL^HISL\UKLYJLY[HPU[LYTZHUK
JVUKP[PVUZ=HYPV\ZSLHZLJVU[YHJ[ZPUJS\KLLZJHSH[PVUJSH\ZLZTVZ[VMÔPJOILHYHUHUU\HSYLU[PUJYLHZLVM[V
4V]LTLU[ZPU[OLSLHZLSPHIPSP[PLZHJJV\U[MVSSV^Z!

2021 2021
Beginning Balance P2,996,003 P P2,392,891 P
(KKP[PVUZ 447,449 205,402
Interest expenses 195,311 152,194
3LHZLJVUJLZZPVUZ – –
Payments (792,745) (562,589)
,UKPUN)HSHUJL P2,846,018 P P2,187,898 P
(ZHYLZ\S[VM[OLWHUKLTPJ[OL7HYLU[*VTWHU`^HZNP]LUSLHZLJVUJLZZPVUZI`P[ZSLZZVYZPU;OLSLHZLJVUJLZZPVUZYLZ\S[LK[VH
decrease in lease payable and an increase in miscellaneous income amounting to PTPSSPVUPU
,_WLUZLZ YLSH[LK [V ZOVY[[LYT SLHZLZ HTV\U[PUN [V P TPSSPVU HUK P TPSSPVU MVY [OL .YV\W HUK 7HYLU[ *VTWHU` PU
respectively, and PTPSSPVUHUKP TPSSPVUMVY[OL.YV\WHUK7HYLU[*VTWHU`PUYLZWLJ[P]LS`HYLPUJS\KLKPU[OLº6JJ\WHUJ`
JVZ[»HJJV\U[

;V[HSJHZOV\[ÅV^ZMVYSLHZLZHTV\U[LK[VPIPSSPVUHUKP IPSSPVUMVY[OL.YV\WHUK7HYLU[*VTWHU`PUYLZWLJ[P]LS`HUK
P1.19 billion and PIPSSPVUMVY[OL.YV\WHUK7HYLU[*VTWHU`PUYLZWLJ[P]LS`
;OL.YV\WHUK[OL7HYLU[*VTWHUÒH]LHSZVLU[LYLKPU[VJVTTLYJPHSWYVWLY[`SLHZLZVUP[ZPU]LZ[TLU[WYVWLY[PLZ5V[L
-\[\YLTPUPT\TYLU[HSZYLJLP]HISL\UKLYUVUJHUJLSSHISLVWLYH[PUNSLHZLZMVSSV^!

2021 2021
Within one year P4,341 P4,049
(M[LYVUL`LHYI\[UV[TVYL[OHUÄ]L`LHYZ 109,170 Ě
113,511 4,049
-\[\YLTPUPT\TYLU[HSZWH`HISL\UKLYUVUJHUJLSSHISLSLHZLZMVSSV^!

2021 2021
Within one year P687,755 P P509,857 P
(M[LYVUL`LHYI\[UV[TVYL[OHUÄ]L`LHYZ 1901,881 1,527,304
(M[LYTVYL[OHUÄ]L`LHYZ 440,377 359,201
P3,030,013 P P2,396,362 P
28. INCOME AND OTHER TAXES
0UJVTL[H_LZPUJS\KLJVYWVYH[LPUJVTL[H_HUK-*+<ÄUHS[H_LZHZKPZJ\ZZLKILSV^HUKÄUHS[H_WHPKH[[OLYH[LVMVUNYVZZ
PU[LYLZ[PUJVTLMYVTNV]LYUTLU[ZLJ\YP[PLZHUKV[OLYKLWVZP[Z\IZ[P[\[LZ;OLZLPUJVTL[H_LZHZ^LSSHZ[OLKLMLYYLK[H_ILULÄ[ZHUK
WYV]PZPVUZHYLWYLZLU[LKHZº7YV]PZPVUMVYPUJVTL[H_»PU[OLZ[H[LTLU[ZVMPUJVTL
9LW\ISPJ(J[9(5V (U(J[(TLUKPUN5H[PVUHS0U[LYUHS9L]LU\L*VKLHZHTLUKLKI`9( V[OLY^PZLRUVÛHZ[OL;H_

9LMVYTMVY(JJLSLYH[PVUHUK0UJS\ZPVU;9(05HUK9(V[OLY^PZLRUVÛHZ*VYWVYH[L9LJV]LY`HUK;H_0UJLU[P]LZMVY,U[LYWYPZLZ
*9,(;,WYV]PKLZ[OH[YLN\SHYJVYWVYH[LPUJVTL[H_9*0;YH[LZOHSSILÔPSLPU[LYLZ[L_WLUZLHSSV^LKHZHKLK\J[PISLL_WLUZLPZ
YLK\JLK[VVMPU[LYLZ[PUJVTLZ\IQLJ[[VÄUHS[H_
(TPUPT\TJVYWVYH[LPUJVTL[H_4*0;VM\U[PS1\UL\UKLY*9,(;,VUTVKPÄLKNYVZZPUJVTLPZJVTW\[LKHUKJVTWHYLK
^P[O[OL9*0;,_JLZZ4*0;V]LY9*0;JHUIL\ZLKHZH[H_JYLKP[HNHPUZ[M\[\YLPUJVTL[H_SPHIPSP[`MVY[OLUL_[[OYLL`LHYZ0UHKKP[PVU
HUÙL[VWLYH[PUNSVZZJHYY`V]LY563*6PZHSSV^LKHZHKLK\J[PVUMYVT[H_HISLPUJVTLPU[OLUL_[[OYLL`LHYZMYVT[OL`LHYVMPUJLW[PVU
0UHKKP[PVU\UKLY9( HSZVRUVÛHZ[OL)H`HUPOHU[V9LJV]LY(Z6UL(J[[OLUL[VWLYH[PUNSVZZVM[OLI\ZPULZZVYLU[LYWYPZL
MVY[H_HISL`LHYZHUKZOHSSILJHYYPLKV]LYHZHKLK\J[PVUMYVTNYVZZPUJVTLMVY[OLUL_[Ä]LJVUZLJ\[P]L[H_HISL`LHYZ
PTTLKPH[LS`MVSSV^PUN[OL`LHYVMZ\JOSVZZ
,ќLJ[P]LPU4H`9(5V YLZ[VYLK[OL[H_L_LTW[PVUVM-*+<ZHUKVќZOVYLIHURPUN\UP[Z6)<Z<UKLYZ\JOSH^[OLPUJVTL
KLYP]LKI`[OL-*+<MYVTMVYLPNUJ\YYLUJ`[YHUZHJ[PVUZ^P[OUVUYLZPKLU[Z6)<ZSVJHSJVTTLYJPHSIHURZPUJS\KPUNIYHUJOLZVMMVYLPNU
IHURZPZ[H_òL_LTW[ÔPSLPU[LYLZ[PUJVTLVUMVYLPNUJ\YYLUJ`SVHUZMYVTYLZPKLU[ZV[OLY[OHU6)<ZVYV[OLYKLWVZP[VYÌHURZ\UKLY[OL
L_WHUKLKZ`Z[LTPZZ\IQLJ[[VNYVZZPUJVTL[H_3HZ[S`HSSV[OLYPUJVTLVM[OL-*+<PZZ\IQLJ[[V[OLJVYWVYH[L[H_
9LSL]HU[;H_<WKH[LZ
;9(053H^
9(5V [OL;H_9LMVYTMVY(JJLSLYH[PVUHUK0UJS\ZPVU;9(05PZ[OLÄYZ[WHJRHNLVM[OLJVTWYLOLUZP]L[H_YLMVYTWYVNYHTVM[OL
NV]LYUTLU[;OLIPSS^HZZPNULKPU[VSH^VU+LJLTILY HUK[VVRLќLJ[VU1HU\HY`HTLUKPUNZVTLWYV]PZPVUZVM[OLVSK
Philippine tax system.
,_JLW[MVYYLZPKLU[MVYLPNUJVYWVYH[PVUZÔPJOPZZ[PSSZ\IQLJ[[V[OLL_PZ[PUNYH[LVM[H_VUPU[LYLZ[PUJVTLVMMVYLPNUJ\YYLUJ`KLWVZP[
^HZPUJYLHZLK[V\UKLY;9(05+VJ\TLU[HY`Z[HTW[H_VUIHURJOLJRZKYHM[ZJLY[PÄJH[LVMKLWVZP[UV[ILHYPUNPU[LYLZ[HSSKLI[
PUZ[Y\TLU[ZIPSSZVML_JOHUNLSL[[LYZVMJYLKP[TVY[NHNLZKLLKZHUKV[OLYZHYLUV^Z\IQLJ[LK[VHOPNOLYYH[L
*9,(;,3H^
9(V[OLY^PZLRUVÛHZ*VYWVYH[L9LJV]LY`HUK;H_0UJLU[P]LZMVY,U[LYWYPZLZ*9,(;,^HZZPNULKPU[VSHÎ`7YLZPKLU[9VKYPNV+\[LY[L
SHZ[4HYJO;OLSHÎLJHTLLќLJ[P]LVU(WYPSÄM[LLUKH`ZHM[LYP[ZW\ISPJH[PVUPUHUL^ZWHWLYVMNLULYHSJPYJ\SH[PVUVU
4HYJO
;OLRL`JOHUNLZ[V[OL7OPSPWWPUL[H_SH^W\YZ\HU[[V[OL*9,(;,(J[ÔPJOOH]LHUPTWHJ[VU[OL)HURHYL[OLMVSSV^PUN!
,ќLJ[P]L 1\S` YLN\SHY JVYWVYH[L PUJVTL [H_ 9*0; YH[L PZ YLK\JLK MYVT [V MVY KVTLZ[PJ HUK YLZPKLU[ MVYLPNU
corporations.
4PUPT\TJVYWVYH[LPUJVTL[H_4*0;YH[LYLK\JLKMYVT[VVMNYVZZPUJVTLLќLJ[P]L1\S`[V1\UL
0U[LYLZ[PUJVTLVMMVYLPNUJ\YYLUJ`YLTP[[HUJL[YHUZHJ[PVUKLWVZP[YLJLP]LKI`YLZPKLU[MVYLPNUJVYWVYH[PVUZHYLUV^Z\IQLJ[[V
ÄUHS[H_
;OL.YV\WHWWSPLK[OLWYV]PZPVUZVM[OL*9,(;,(J[VUP[ZPUJVTL[H_WH`HISLKLMLYYLK[H_HZZL[ZHUKKLMLYYLK[H_SPHIPSP[PLZHZVM
+LJLTILYPU
Impact of CREATE Law

(WWS`PUN[OLWYV]PZPVUZVM[OL*9,(;,3H^[OL.YV\WHUK[OL7HYLU[*VTWHU`PZZ\IQLJ[LK[VSV^LYYLN\SHYJVYWVYH[LPUJVTL[H_YH[LVM
LќLJ[P]L1\S`;OLMVSSV^PUNHYL[OLPTWHJ[VM*9,(;,PU[OLÄUHUJPHSZ[H[LTLU[ZVM[OL.YV\WHUK[OL7HYLU[*VTWHU`!
)HZLKVU[OLWYV]PZPVUZVM9L]LU\L9LN\SH[PVUZ995VKH[LK(WYPSPZZ\LKI`[OL)09[OL[YHUZP[VY`9*0;HUK4*0;
YH[LZHWWSPJHISL[V[OL.YV\WHUK[OL7HYLU[*VTWHU`MVY[OL[H_HISL`LHYPZHUKYLZWLJ[P]LS`;OPZYLZ\S[LKPU
YLK\J[PVUPU[OLJ\YYLU[PUJVTL[H_K\LMVY[OL[H_HISL`LHYHTV\U[PUN[VP TPSSPVUHUKPTPSSPVUMVY[OL.YV\WHUK
[OL7HYLU[*VTWHU`YLZWLJ[P]LS`;OLYLK\JLKHTV\U[Z^LYLYLÅLJ[LKPU[OL(UU\HS0UJVTL;H_9L[\YUZÄSLKPU-VY
ÄUHUJPHSYLWVY[PUNW\YWVZLZZ\JOYLK\J[PVUZPU[OLJ\YYLU[PUJVTL[H_LZ^LYLYLJVNUPaLKPU[OLÄUHUJPHSZ[H[LTLU[ZHZ
YLK\J[PVU[VPUJVTL[H_L_WLUZL
;OLKLMLYYLK[H_HZZL[ZHZVM+LJLTILY^LYLHSZVYLTLHZ\YLK\ZPUN[OLSV^LY9*0;YH[LVM;OLUL[KLJYLHZLPU
[OLKLMLYYLK[H_IHSHUJLZHTV\U[PUN[VPTPSSPVUHUKPTPSSPVUMVY[OL.YV\WHUK[OL7HYLU[*VTWHU`YLZWLJ[P]LS`
YLK\JLK[OLILULÄ[MYVTKLMLYYLK[H_HZZL[ZJYLKP[LK[VWYVÄ[VYSVZZI`P TPSSPVUHUKPTPSSPVUMVY[OL.YV\WHUK[OL
Parent Company, respectively, and other comprehensive income by P TPSSPVU HUKP TPSSPVU MVY [OL .YV\W HUK [OL 7HYLU[
Company, respectively
;OLYL^LYLUV[H_YLSH[LKJVU[PUNLU[SPHIPSP[PLZHUKJVU[PUNLU[HZZL[ZHYPZPUNMYVT[OLJOHUNLZPU[OL[H_YH[LZK\L[V*9,(;,(J[
99
6U4HYJO[OL)\YLH\VM0U[LYUHS9L]LU\L)09PZZ\LK9L]LU\L9LN\SH[PVUZ995VòÔPJOWYLZJYPILK[OLH[[YPI\[PVUHUK
HSSVJH[PVUVML_WLUZLZIL[^LLU-*+<Z,-*+<ZVY6)<HUK9)<HUK^P[OPU9)<
6U(WYPS[OL)HURHUKV[OLYTLTILYIHURZVM[OL)HURLYZ(ZZVJPH[PVUVM[OL7OPSPWWPULZ)(7ÄSLKH7L[P[PVUMVY+LJSHYH[VY`
9LSPLM^P[O(WWSPJH[PVUMVY;LTWVYHY`9LZ[YHPUPUN6YKLY;96HUKVY>YP[VM7YLSPTPUHY`0UQ\UJ[PVU^P[O[OL9LNPVUHS;YPHS*V\Y[VM4HRH[P
4HRH[P;YPHS*V\Y[-\Y[OLYPU*P]PS*HZL5V[OL)HURHUKV[OLY)(7TLTILYIHURZHZZHPSLK[OL]HSPKP[`VM99VU[OL
NYV\UKHTVUNV[OLYZ[OH[H[OL99]PVSH[LZ[OLWL[P[PVULYIHURZZ\IZ[HU[P]LK\LWYVJLZZYPNO[Z"IP[PZUV[VUS`PSSLNHSI\[HSZV\UMHPY"
J[OH[P[ZLY]LZHZHKL[LYYLU[[VIHURZ[VPU]LZ[PUJHWP[HSTHYRL[[YHUZHJ[PVUZ[V[OLWYLQ\KPJLVM[OLLJVUVT`"KP[ZL[ZHKHUNLYV\Z
WYLJLKLU[MVY[OLKPZHSSV^HUJLVMM\SSKLK\J[PVUZK\L[V[OLWYLZJYPILZTL[OVKVMHSSVJH[PVU"HUKLP[]PVSH[LZ[OLLX\HSWYV[LJ[PVUJSH\ZL
VM[OL*VUZ[P[\[PVU
6U(WYPS[OL4HRH[P;YPHS*V\Y[PZZ\LKH;96LUQVPUPUN[OL)09MYVTLUMVYJPUN99(SZVVU(WYPS[OL4HRH[P;YPHS
*V\Y[PZZ\LKH>YP[VM7YLSPTPUHY`0UQ\UJ[PVULUQVPUPUN[OL)09MYVTLUMVYJPUNJHYY`PUNV\[VYPTWSLTLU[PUNPUHU`^H`VYTHUULY99
HNHPUZ[[OL)HURHUKV[OLY)(7TLTILYIHURZPUJS\KPUNPZZ\PUN7YLSPTPUHY`(ZZLZZTLU[5V[PJLVY-PUHS(ZZLZZTLU[5V[PJLHNHPUZ[[OLT
K\YPUN[OLWLUKLUJ`VM[OLSP[PNH[PVU\USLZZZVVULYKPZZVS]LK
6U1\UL[OL4HRH[P;YPHS*V\Y[PZZ\LKH*VUÄYTH[VY`6YKLYZ[H[PUN[OH[[OL;96HUK>YP[VM7YLSPTPUHY`0UQ\UJ[PVUHSZVWYVOPIP[Z
[OL)09MYVTY\SPUNVYKLJPKPUNVUHU`HKTPUPZ[YH[P]LTH[[LYWLUKPUNILMVYLP[PUYLSH[PVU[V[OLZ\IQLJ[YL]LU\LYLN\SH[PVUZHUKPUZVMHYHZ[OL
)HURHUKV[OLY)(7TLTILYIHURZHYLJVUJLYULK

6U4H` [OL4HRH[P;YPHS*V\Y[PZZ\LKHKLJPZPVUHUU\SSPUN99HUKTHRPUN[OL>YP[VM7YLSPTPUHY`0UQ\UJ[PVUWLYTHULU[
*\YYLU[[H_YLN\SH[PVUZHSZVWYV]PKLMVY[OLJLPSPUNVU[OLHTV\U[VMLU[LY[HPUTLU[HT\ZLTLU[HUKYLJYLH[PVU,(9L_WLUZL[OH[JHUIL
JSHPTLKHZHKLK\J[PVUHNHPUZ[[H_HISLPUJVTL<UKLY[OLYLN\SH[PVUZ,(9L_WLUZLHSSV^LKHZHKLK\J[PISLL_WLUZLPZSPTP[LK[V[OLHJ[\HS
,(9WHPKVYPUJ\YYLKI\[UV[[VL_JLLKVM[OL7HYLU[*VTWHU`»ZUL[YL]LU\L
;OLWYV]PZPVUMVYPUJVTL[H_JVUZPZ[ZVM!

2021 2021
Current
-PUHS[H_ P927,631 P P P917,411 P P
9*0; 1,359,129 952,844
2,286,760 1,870,255
+LMLYYLK 70,240 197,296
P2,357,000 P P P2,067,551 P P
;OLKL[HPSZVMUL[KLMLYYLK[H_HZZL[ZMVSSV^!

2021 2021
5L[KLMLYYLK[H_HZZL[ZVU!
(SSV^HUJLMVYPTWHPYTLU[HUKJYLKP[SVZZLZ P4,955,236 P P3,803,881 P
9L]HS\H[PVUPUJYLTLU[VUSHUK
5V[LZHUK (456,171) (456,171)
-HPY]HS\LHKQ\Z[TLU[ZVUHZZL[MVYLJSVZ\YLHUK
KHJPVU[YHUZHJ[PVUZUL[VMKLWYLJPH[LKWVY[PVU 38,370 (20,973)
5L[KLÄULKILULÄ[HZZL[ (123,121) (75,098)
6[OLYZ 210,667 157,961
P4,624,981 P P3,409,600 P
;OLKL[HPSZVMUL[KLMLYYLK[H_SPHIPSP[PLZMVSSV^!

2021 2021
5L[KLMLYYLK[H_SPHIPSP[PLZVU!
-HPY]HS\LHKQ\Z[TLU[ZVUHZZL[MVYLJSVZ\YLHUK
KHJPVU[YHUZHJ[PVUZ¶UL[VMKLWYLJPH[LKWVY[PVU (P69,753) P P– P–
-HPY]HS\LHKQ\Z[TLU[ZVUUL[HZZL[ZSPHIPSP[PLZVM
7+)HUK<UP[`)HUk 107,372 – –
6[OLYZ 760,594 – –
P798,212 P P– P–
6[OLYZWLY[HPUZWYPTHYPS`[V[OLKLMLYYLK[H_SPHIPSP[PLZVUIYHUJOSPJLUZLZHYPZPUNMYVT[OLHJX\PZP[PVUVM7+)
0UHUKKLMLYYLK[H_KLIP[LK[V6*0L_JS\KPUN*9,(;,PTWHJ[HTV\U[LK[VP TPSSPVUHUKP TPSSPVUYLZWLJ[P]LS`MVY
[OL.YV\WHUKPTPSSPVUHUKP TPSSPVUYLZWLJ[P]LS`MVY[OL7HYLU[*VTWHU`
;OL .YV\W KPK UV[ ZL[ \W KLMLYYLK [H_ HZZL[Z VU [OL MVSSV^PUN [LTWVYHY` KPќLYLUJLZ HZ P[ ILSPL]LZ [OH[ P[ PZ OPNOS` WYVIHISL [OH[ [OLZL
[LTWVYHY`KPќLYLUJLZ^PSSUV[ILYLHSPaLKPU[OLULHYMVYLZLLHISLM\[\YL!

2021 2021
(SSV^HUJLMVYPTWHPYTLU[HUKJYLKP[SVZZLZ P628,002 P P– P–
6[OLYZ 21,085 – –
P649,086 P P– P–
;OLYLJVUJPSPH[PVUVM[OLZ[H[\[VY`PUJVTL[H_[V[OLWYV]PZPVUMVYPUJVTL[H_MVSSV^Z!

2021 2021
:[H[\[VY`PUJVTL[H_ P4,365,806 P P P4,288,971 P P
;H_LќLJ[ZVM
-*+<PUJVTL (408,410) (402,305)
5VUò[H_HISLPUJVTL (1,650,965) (1,560,515)
Interest income
Z\IQLJ[LK[VÄUHS[H_ (257,644) (179,194)
5VUKLK\J[PISLL_WLUZLZ 685,021 631,661
6[OLYZ (713,337) (1,088,232)
*9,(;,HKQ\Z[TLU[KLMLYYLK[H_ 593,418 – – 614,018 – –
*9,(;,HKQ\Z[TLU[¶J\YYLU[[H_ (256,889) – – (236,853) – –
7YV]PZPVUMVYPUJVTL[H_ P2,357,000 P P P2,067,551 P P
29. TRUST OPERATIONS
:LJ\YP[PLZHUKV[OLYWYVWLY[PLZV[OLY[OHUKLWVZP[ZOLSKI`[OL7HYLU[*VTWHU`PUÄK\JPHY`VYHNLUJ`JHWHJP[PLZMVYJSPLU[ZHUKILULÄJPHYPLZ
HYLUV[PUJS\KLKPU[OLHJJVTWHU`PUNIHSHUJLZOLL[ZZPUJL[OLZLHYLUV[HZZL[ZVM[OL7HYLU[*VTWHU`5V[L
0U JVTWSPHUJL ^P[O [OL YLX\PYLTLU[Z VM J\YYLU[ IHURPUN YLN\SH[PVUZ YLSH[P]L [V [OL 7HYLU[ *VTWHU`»Z [Y\Z[ M\UJ[PVUZ ! H NV]LYUTLU[
IVUKZ PUJS\KLK \UKLY ÄUHUJPHS HZZL[Z H[ -=6*0 ^P[O [V[HS MHJL ]HS\L VM P IPSSPVU HUK P IPSSPVU HZ VM +LJLTILY HUK
YLZWLJ[P]LS` HYL KLWVZP[LK ^P[O [OL ):7 HZ ZLJ\YP[` MVY [OL 7HYLU[ *VTWHU`»Z MHP[OM\S JVTWSPHUJL ^P[O P[Z ÄK\JPHY` VISPNH[PVUZ
5V[L "HUKIHJLY[HPUWLYJLU[HNLVM[OL7HYLU[*VTWHU`»Z[Y\Z[MLLPUJVTLPZ[YHUZMLYYLK[VZ\YWS\ZYLZLY]L;OPZ`LHYS`[YHUZMLYPZ
YLX\PYLK\U[PS[OLZ\YWS\ZYLZLY]LMVY[Y\Z[M\UJ[PVULX\HSZVM[OL7HYLU[*VTWHU`»ZH\[OVYPaLKJHWP[HSZ[VJR
30. RELATED PARTY TRANSACTIONS
7HY[PLZHYLJVUZPKLYLK[VILYLSH[LKPMVULWHY[ÒHZ[OLHIPSP[`KPYLJ[S`VYPUKPYLJ[S`[VJVU[YVS[OLV[OLYWHY[`VYL_LYJPZLZPNUPÄJHU[PUÅ\LUJL
V]LY[OLV[OLYWHY[`PUTHRPUNÄUHUJPHSHUKVWLYH[PUNKLJPZPVUZ;OL.YV\W»ZYLSH[LKWHY[PLZPUJS\KL!
RL` THUHNLTLU[ WLYZVUULS JSVZL MHTPS` TLTILYZ VM RL` THUHNLTLU[ WLYZVUULS HUK LU[P[PLZ ÔPJO HYL JVU[YVSSLK ZPNUPÄJHU[S`
PUÅ\LUJLKI`VYMVYÔPJOZPNUPÄJHU[]V[PUNWV^LYPZOLSKI`RL`THUHNLTLU[WLYZVUULSVY[OLPYJSVZLMHTPS`TLTILYZ
ZPNUPÄJHU[PU]LZ[VYZ
Z\IZPKPHYPLZQVPU[]LU[\YLZHUKHZZVJPH[LZHUK[OLPYYLZWLJ[P]LZ\IZPKPHYPLZHUK
WVZ[LTWSV`TLU[ILULÄ[WSHUZMVY[OLILULÄ[VM[OL.YV\W»ZLTWSV`LLZ

;OL.YV\WOHZZL]LYHSI\ZPULZZYLSH[PVUZOPWZ^P[OYLSH[LKWHY[PLZ;YHUZHJ[PVUZ^P[OZ\JOWHY[PLZHYLUVYTHSS`THKLPU[OLVYKPUHY`JV\YZL
VMI\ZPULZZHUKIHZLKVU[OL[LYTZHUKJVUKP[PVUZKPZJ\ZZLKILSV^;YHUZHJ[PVUZ^P[OYLSH[LKWHY[PLZHYLZL[[SLKPUJHZO\USLZZV[OLY^PZL
indicated.
;YHUZHJ[PVUZ^P[O9L[PYLTLU[7SHUZ
<UKLY7-9:JLY[HPUWVZ[òLTWSV`TLU[ILULÄ[WSHUZHYLJVUZPKLYLKHZYLSH[LKWHY[PLZ;OL7HYLU[*VTWHUÒHZI\ZPULZZYLSH[PVUZOPWZ
^P[OHU\TILYVMP[ZYL[PYLTLU[WSHUZW\YZ\HU[[VÔPJOP[WYV]PKLZ[Y\Z[HUKTHUHNLTLU[ZLY]PJLZ[V[OLZLWSHUZ0UJVTLLHYULKI`7HYLU[
*VTWHU`MYVTZ\JOZLY]PJLZHTV\U[LK[VP PUPTPSSPVUHUKPUHUKPTPSSPVUPU
;OL.YV\W»ZYL[PYLTLU[M\UKZTHÒVSKVY[YHKL[OL7HYLU[*VTWHU`»ZZOHYLZVYZLJ\YP[PLZ:PNUPÄJHU[[YHUZHJ[PVUZVM[OLYL[PYLTLU[M\UK
WHY[PJ\SHYS`^P[OYLSH[LKWHY[PLZHYLHWWYV]LKI`[OL;Y\Z[0U]LZ[TLU[*VTTP[[LL;0*VM[OL7HYLU[*VTWHU`;OLTLTILYZVM[OL;0*HYL
KPYLJ[VYZHUKRL`THUHNLTLU[WLYZVUULSVM[OL7HYLU[*VTWHU`
(Z\TTHY`VM[YHUZHJ[PVUZ^P[OYLSH[LKWHY[`YL[PYLTLU[WSHUZMVSSV^Z!

2021 2021
+LWVZP[ZPUIHURZ P4,207 P P4,172 P
-PUHUJPHSHZZL[ZH[-=;73 1,419,060 1,419,060
+P]PKLUKPUJVTL 54,579 54,579
Interest income 41 22
;V[HSTHYRL[]HS\LVMZOHYLZ 1,419,060 1,419,060
5\TILYVMZOHYLZOLSK 54,579 54,579
0U KP]PKLUKPUJVTLHUKPU[LYLZ[PUJVTLVM[OLYL[PYLTLU[WSHUMYVTPU]LZ[TLU[ZHUKWSHJLTLU[ZPU[OL7HYLU[*VTWHU`HTV\U[LK[V
PTPSSPVUHUKPTPSSPVUYLZWLJ[P]LS`MVY[OL.YV\WHUKPTPSSPVUHUKP TPSSPVUYLZWLJ[P]LS`MVY[OL7HYLU[*VTWHU`
-PUHUJPHSHZZL[ZH[-=;73YLWYLZLU[ZOHYLZVMZ[VJRVM[OL7HYLU[*VTWHU`=V[PUNYPNO[ZV]LY[OL7HYLU[*VTWHU`»ZZOHYLZHYLL_LYJPZLK
I`HUH\[OVYPaLK[Y\Z[VѝJLY
9LT\ULYH[PVUZVM+PYLJ[VYZHUKV[OLY2L`4HUHNLTLU[7LYZVUULS
2L`THUHNLTLU[WLYZVUULSHYL[OVZLWLYZVUZOH]PUNH\[OVYP[`HUKYLZWVUZPIPSP[`MVYWSHUUPUNKPYLJ[PUNHUKJVU[YVSSPUN[OLHJ[P]P[PLZ
VM [OL .YV\W KPYLJ[S` VY PUKPYLJ[S` ;OL .YV\W JVUZPKLYZ [OL TLTILYZ VM [OL 4HU*VT [V JVUZ[P[\[L RL` THUHNLTLU[ WLYZVUULS MVY
W\YWVZLZVM7(:
;V[HSYLT\ULYH[PVUZVMRL`THUHNLTLU[WLYZVUULSHYLHZMVSSV^Z!

2021 2021
:OVY[ò[LYTLTWSV`LLILULÄ[Z P762,878 P P P669,174 P P
7VZ[òLTWSV`TLU[ILULÄ[Z 3,176 2,003
P766,054 P P P671,177 P P
4LTILYZ VM [OL )6+ HYL LU[P[SLK [V H WLY KPLT VM P MVY H[[LUKHUJL H[ LHJO TLL[PUN VM [OL )VHYK VY VM HU` JVTTP[[LLZ HUK [V
MV\YWLYJLU[VM[OL7HYLU[*VTWHU`»ZUL[LHYUPUNZ^P[OJLY[HPUKLK\J[PVUZPUHJJVYKHUJL^P[O):7YLN\SH[PVU5VUL_LJ\[P]L
KPYLJ[VYZKVUV[YLJLP]LHU`WLYMVYTHUJLYLSH[LKJVTWLUZH[PVU+PYLJ[VYZ»YLT\ULYH[PVUJV]LYZHSS7HYLU[*VTWHU`»Z)VHYKHJ[P]P[PLZHUK
TLTILYZOPWVMJVTTP[[LLZHUKZ\IZPKPHY`JVTWHUPLZ
;OL .YV\W HSZV WYV]PKLZ IHURPUN ZLY]PJLZ [V KPYLJ[VYZ HUK V[OLY RL` THUHNLTLU[ WLYZVUULS HUK WLYZVUZ JVUULJ[LK [V [OLT ;OLZL
transactions are presented in the tables below.
6[OLY9LSH[LK7HY[`;YHUZHJ[PVUZ
;YHUZHJ[PVUZIL[^LLU[OL7HYLU[*VTWHU`HUKP[ZZ\IZPKPHYPLZTLL[[OLKLÄUP[PVUVMYLSH[LKWHY[`[YHUZHJ[PVUZ;YHUZHJ[PVUZIL[^LLU[OL
.YV\WHUKP[ZHZZVJPH[LKJVTWHUPLZHSZVX\HSPM`HZYLSH[LKWHY[`[YHUZHJ[PVUZ+L[HPSZVM[OL7HYLU[*VTWHU`»ZZ\IZPKPHYPLZHUKHZZVJPH[L
HYLKPZJSVZLKPU5V[LZHUK
Group
9LSH[LKWHY[`[YHUZHJ[PVUZVM[OL.YV\WI`JH[LNVY`VMYLSH[LKWHY[`HYLWYLZLU[LKILSV^
December 31, 2021

Category Amount / Volume Outstanding Balance Terms and Conditions
6LJQLðFDQW,QYHVWRU
3VHUZHUKYLJLP]HISLZ P8,340,600 :LJ\YLK^P[OZOHYLZVMZ[VJRZ^P[OPU[LYLZ[
Issuances 6,000,000 YH[LYHUNPUNMYVT[V^P[O
9LWH`TLU[Z (2,350) YLTHPUPUNTH[\YP[ÌL[^LLU`LHYZHUK
`LHYZ(SSV^HUJLMVYWYVIHISLSVZZLZ
to PTPSSPVU
+LWVZP[SPHIPSP[PLZ 2,477 These are checking accounts with annual
+LWVZP[Z 496 H]LYHNLYH[LVM
Withdrawals (1)
Associate
+LWVZP[Z 541,470 H]LYHNLYH[LVM
Withdrawals (324,277)
Key Management Personnel
3VHUZHUKYLJLP]HISLZ 4,024 <UZLJ\YLKVѝJLY»ZHJJV\U[ZMYVTJYLKP[
Issuances 3,876 JHYK^P[OPU[LYLZ[VMTH[\YPUN^P[OPU
9LWH`TLU[Z (1,584) `LHYHUK6,3HJJV\U[Z^P[OPU[LYLZ[YH[L
YHUNPUNMYVT[V^P[OYLTHPUPUN
TH[\YP[ÌL[^LLUHUK`LHYZHUK
unsecured employee loans with interest rate
VMTH[\YPUNPU`LHYZ
+LWVZP[SPHIPSP[PLZ 29,632 These are checking, savings and time
+LWVZP[Z 229,407 deposits with annual average interest rates
Withdrawals (294,090) YHUNPUNMYVT[V
6[OLY9LSH[LK7HY[PLZ
3VHUZHUKYLJLP]HISLZ 47,614,775 :LJ\YLKHUK\UZLJ\YLKSVHUZ^P[OPU[LYLZ[
Issuances 20,297,184 YH[LYHUNPUNMYVT[V ^P[O
9LWH`TLU[Z (16,595,015) YLTHPUPUNTH[\YP[ÌL[^LLUKH`ZHUK
amounted to PTPSSPVU
+LWVZP[SPHIPSP[PLZ 160,864 These are checking and savings accounts
+LWVZP[Z 9,566,217 with annual average interest rates ranging
Withdrawals (11,092,240) MYVT[V

+LJLTILY
Category (TV\U[=VS\TL 6\[Z[HUKPUN)HSHUJL Terms and Conditions
:PNUPÄJHU[0U]LZ[VY
3VHUZHUKYLJLP]HISLZ P :LJ\YLK ^P[O ZOHYLZ VM Z[VJRZ ^P[O PU[LYLZ[
Issuances – YH[LVM^P[OYLTHPUPUNTH[\YP[`VM
9LWH`TLU[Z years.
+LWVZP[SPHIPSP[PLZ These are checking accounts with annual
+LWVZP[Z H]LYHNLYH[LVM
Withdrawals –
(ZZVJPH[L
+LWVZP[SPHIPSP[PLZ These are savings accounts with annual
+LWVZP[Z H]LYHNLPU[LYLZ[YH[LZYHUNPUNMYVT
Withdrawals [V
2L`4HUHNLTLU[7LYZVUULS
3VHUZHUKYLJLP]HISLZ <UZLJ\YLKVѝJLY»ZHJJV\U[ZMYVTJYLKP[JHYK
Issuances ^P[OPU[LYLZ[VMHUKJ\YYLU[S`TH[\YPUN
9LWH`TLU[Z HUKM\SS`ZLJ\YLK6,3HJJV\U[Z^P[O
PU[LYLZ[VM^P[OYLTHPUPUNTH[\YP[`
IL[^LLU`LHYZHUK`LHYZ
+LWVZP[SPHIPSP[PLZ These are checking, savings and time
+LWVZP[Z deposits with annual average interest rates
Withdrawals YHUNPUNMYVT[V
6[OLY9LSH[LK7HY[PLZ
3VHUZHUKYLJLP]HISLZ :LJ\YLKHUK\UZLJ\YLKSVHUZ^P[OPU[LYLZ[
Issuances YH[LYHUNPUNMYVT[V ^P[O
9LWH`TLU[Z YLTHPUPUNTH[\YP[ÌL[^LLUKH`ZHUK
amounted to P TPSSPVU
+LWVZP[SPHIPSP[PLZ These are checking and savings accounts
+LWVZP[Z with annual average interest rates ranging
Withdrawals MYVT[V
0U[LYLZ[PUJVTLLHYULKHUKPU[LYLZ[L_WLUZLPUJ\YYLKMYVT[OLHIV]LSVHUZHUKKLWVZP[SPHIPSP[PLZPUHUK MVSSV^!
6LJQLðFDQW,QYHVWRU Associate
2021 2021
Interest income P155,890 P P P– P– P–
Interest expense 3 2,896
Key Management Personnel Other Related Parties
2021 2021
Interest income P101 P P P1,809,292 P P
Interest expense 1,383 689
9LSH[LKWHY[`[YHUZHJ[PVUZVM[OL.YV\W^P[OZPNUPÄJHU[PU]LZ[VYHZZVJPH[LHUKV[OLYYLSH[LKWHY[PLZWLY[HPU[V[YHUZHJ[PVUZVM[OL7HYLU[
Company with these related parties.
Parent Company
9LSH[LKWHY[`[YHUZHJ[PVUZVM[OL7HYLU[*VTWHUÌ`JH[LNVY`VMYLSH[LKWHY[`HYLWYLZLU[LKILSV^
December 31, 2021

Category Amount / Volume Outstanding Balance Nature, Terms and Conditions
6LJQLðFDQW,QYHVWRU
3VHUZHUKYLJLP]HISLZ P8,340,600 :LJ\YLK^P[OZOHYLZVMZ[VJRZ^P[OPU[LYLZ[YH[L
Issuances 6,000,000 YHUNPUNMYVT[V^P[OYLTHPUPUN
9LWH`TLU[Z (2,350) TH[\YP[ÌL[^LLU`LHYZHUK `LHYZ
(SSV^HUJLMVYWYVIHISLSVZZLZ[VPTPSSPVU
+LWVZP[Z 487 H]LYHNLYH[LVM
Withdrawals –
Subsidiaries
+LWVZP[SPHIPSP[PLZ 504,336 These are checking and savings accounts with
+LWVZP[Z 5,949,780 HUU\HSH]LYHNLPU[LYLZ[YH[LZYHUNPUNMYVT
Withdrawals (5,949,780) [V
Associate
+LWVZP[Z 181,157 H]LYHNLYH[LVM
Withdrawals (181,239)
Key Management Personnel
3VHUZHUKYLJLP]HISLZ 1,117 <UZLJ\YLKVѝJLY»ZHJJV\U[ZMYVTJYLKP[JHYK
Issuances 258 ^P[OPU[LYLZ[VMTH[\YPUN^P[OPU`LHYHUK
9LWH`TLU[Z (873) 6,3HJJV\U[Z^P[OPU[LYLZ[YH[LYHUNPUNMYVT
[VZLJ\YLKHUKJ\YYLU[S`TH[\YPUN
+LWVZP[SPHIPSP[PLZ 30,039 These are checking, savings and time deposit
+LWVZP[Z 249,524 account with annual average interest rates
Withdrawals (313,800) YHUNPUNMYVT[V
Other Related Parties
3VHUZHUKYLJLP]HISLZ 47,614,775 :LJ\YLKHUK\UZLJ\YLKSVHUZ^P[OPU[LYLZ[YH[L
Issuances 20,297,184 YHUNPUNMYVT[V ^P[OYLTHPUPUN
9LWH`TLU[Z (16,595,015) TH[\YP[ÌL[^LLUKH`ZHUK `LHYZ
(SSV^HUJLMVYWYVIHISLSVZZLZHTV\U[LK[V
PTPSSPVU
+LWVZP[SPHIPSP[PLZ 1,352,718 These are checking and savings accounts with
+LWVZP[Z 18,996,452 HUU\HSH]LYHNLPU[LYLZ[YH[LZYHUNPUNMYVT
Withdrawals (19,330,621) [V

+LJLTILY
Category (TV\U[=VS\TL 6\[Z[HUKPUN)HSHUJL 5H[\YL;LYTZHUK*VUKP[PVUZ
:PNUPÄJHU[0U]LZ[VY
3VHUZHUKYLJLP]HISLZ P :LJ\YLK^P[OZOHYLZVMZ[VJRZ^P[OPU[LYLZ[YH[LVM
Issuances ^P[OYLTHPUPUNTH[\YP[`VM`LHYZ
9LWH`TLU[Z
+LWVZP[SPHIPSP[PLZ These are checking accounts with annual
+LWVZP[Z H]LYHNLYH[LVM
Withdrawals
:\IZPKPHYPLZ
+LWVZP[SPHIPSP[PLZ These are checking and savings accounts with
+LWVZP[Z HUU\HSH]LYHNLPU[LYLZ[YH[LZYHUNPUNMYVT
Withdrawals [V
(ZZVJPH[L
+LWVZP[SPHIPSP[PLZ These are savings accounts with annual average
+LWVZP[Z PU[LYLZ[YH[LZYHUNPUNMYVT[V
Withdrawals
2L`4HUHNLTLU[7LYZVUULS
3VHUZHUKYLJLP]HISLZ <UZLJ\YLKVѝJLY»ZHJJV\U[ZMYVTJYLKP[JHYK
Issuances ^P[OPU[LYLZ[VMHUKJ\YYLU[S`TH[\YPUN
9LWH`TLU[Z HUKM\SS`ZLJ\YLK6,3HJJV\U[Z^P[OPU[LYLZ[
VM^P[OYLTHPUPUNTH[\YP[ÌL[^LLU
`LHYZHUK`LHYZ
+LWVZP[SPHIPSP[PLZ These are checking, savings and time deposit
+LWVZP[Z account with annual average interest rates
Withdrawals YHUNPUNMYVT[V
6[OLY9LSH[LK7HY[PLZ
3VHUZHUKYLJLP]HISLZ :LJ\YLKHUK\UZLJ\YLKSVHUZ^P[OPU[LYLZ[YH[L
Issuances YHUNPUNMYVT[V ^P[OYLTHPUPUN
9LWH`TLU[Z TH[\YP[ÌL[^LLUKH`ZHUK `LHYZ
(SSV^HUJLMVYWYVIHISLSVZZLZHTV\U[LK[V
P TPSSPVU
+LWVZP[SPHIPSP[PLZ These are checking and savings accounts with

+LWVZP[Z HUU\HSH]LYHNLPU[LYLZ[YH[LZYHUNPUNMYVT
Withdrawals [V
The related party transactions shall be settled in cash.
0U[LYLZ[PUJVTLLHYULKHUKPU[LYLZ[L_WLUZLPUJ\YYLKMYVT[OLHIV]LSVHUZHUKKLWVZP[SPHIPSP[PLZPUHUK MVSSV^!
Subsidiaries Associate
2021 2021
Interest Income P– P– P– P– – –
Interest expense 437 2,896
Key Management Personnel Other Related Parties
2021 2021
Interest income P36 P P P1,809,292 P P
Interest expense 34 218
6LJQLðFDQW,QYHVWRU
2021
Interest income P155,890 P P
Interest expense 3
6\[YPNO[W\YJOHZLZHUKV\[YPNO[ZHSLVMKLI[ZLJ\YP[PLZVM[OL7HYLU[*VTWHU`^P[OP[ZZ\IZPKPHYPLZPUHUKMVSSV^!
Subsidiaries
2021
Peso-denominated
6\[YPNO[W\YJOHZL P515,053 P
6\[YPNO[ZHSL 1,232,410
+VSSHYKLUVTPUH[LKLX\P[`
6\[YPNO[W\YJOHZL 3,074
6\[YPNO[ZHSL 5,584
;OLMVSSV^PUN[HISLZOV^Z[OLHTV\U[HUKV\[Z[HUKPUNIHSHUJLVMV[OLYYLSH[LKWHY[`[YHUZHJ[PVUZPUJS\KLKPU[OLÄUHUJPHSZ[H[LTLU[Z!
Subsidiaries
2021 Nature, Terms and Conditions
Balance Sheet
(JJV\U[ZYLJLP]HISL P50,450 P This pertains to various expenses advanced by CBC in
ILOHSMVM]HYPV\ZZ\IZPKPHYPLZ
:LJ\YP[`KLWVZP[Z 10,420 ;OPZWLY[HPUZ[V[OLYLU[HSKLWVZP[Z^P[O*):0HUK*)**
MVYVѝJLZWHJLSLHZLKV\[[V[OL7HYLU[*VTWHU`
(JJV\U[ZWH`HISL – 11 ;OPZWLY[HPUZ[V]HYPV\Z\UWHPKYLU[HS[V*):0
Subsidiaries
2021 Nature, Terms and Conditions
0UJVTL:[H[LTLU[
;Y\Z[MLLPUJVTL P189 P P ;Y\Z[-LLLHYULKI`7HYLU[*VTWHU`MYVT*)**
9LU[PUJVTL 3,039 9LU[0UJVTLMYVT*)**
4PZJLSSHULV\ZPUJVTL 2,850 *LY[HPUM\UJ[PVUZWYV]PKLKI`[OL7HYLU[*VTWHU`[VP[Z
subsidiaries such as accounting, human resources,
audit, treasury operations, administrative, corporate
THYRL[PUNHUKÄUHUJPHSJVU[YVSZLY]PJLZ<UKLY[OL
agreement between the Parent Company and its
subsidiaries, the subsidiaries shall pay the Parent
*VTWHU`HUHUU\HSMLL
6JJ\WHUJ`JVZ[ 42,359 *LY[HPU\UP[ZVM[OLJVUKVTPUP\TVÛLKI`*):0HYL
ILPUNSLHZLK[V[OL7HYLU[*VTWHU`MVYH[LYTVMÄ]L
years, with no escalation clause.
+LMLYYLKJOHYNLZ 5,371 – (YYHUNLYMLLZWHPKI`[OL7HYLU[*VTWHU`[V*)**MVY
[OLPZZ\HUJLVMP[ZÄ_LKYH[LIVUKZ
0UMVYTH[PVU[LJOUVSVN` 240,651 This pertains to the computer and general banking
services provided by CBC-PCCI to the Parent Company
to support its reporting requirements.
4PZJLSSHULV\ZL_WLUZLZ 5,718 *VTTPZZPVUMVYIYVRLYHNL

31. COMMITMENTS AND CONTINGENT ASSETS AND LIABILITIES
0U[OLUVYTHSJV\YZLVM[OL.YV\W»ZVWLYH[PVUZ[OLYLHYL]HYPV\ZV\[Z[HUKPUNJVTTP[TLU[ZHUKJVU[PUNLU[SPHIPSP[PLZÔPJOHYLUV[YLÅLJ[LK
PU[OLHJJVTWHU`PUNÄUHUJPHSZ[H[LTLU[Z4HUHNLTLU[KVLZUV[HU[PJPWH[LHU`TH[LYPHSSVZZLZHZHYLZ\S[VM[OLZL[YHUZHJ[PVUZ
;OLYLHYLZL]LYHSZ\P[ZHZZLZZTLU[ZVYUV[PJLZHUKJSHPTZ[OH[YLTHPUJVU[LZ[LK4HUHNLTLU[ILSPL]LZIHZLKVU[OLVWPUPVUVMP[ZSLNHS
JV\UZLSZ[OH[[OL\S[PTH[LV\[JVTLVMZ\JOZ\P[ZHZZLZZTLU[ZHUKJSHPTZ^PSSUV[OH]LHTH[LYPHSLќLJ[VU[OL.YV\W»ZHUK[OL7HYLU[
)HUR»ZÄUHUJPHSWVZP[PVUHUKYLZ\S[ZVMVWLYH[PVUZ
;OLMVSSV^PUNPZHZ\TTHY`VMJVU[PUNLUJPLZHUKJVTTP[TLU[ZVM[OL.YV\WHUK[OL7HYLU[*VTWHU`^P[O[OLLX\P]HSLU[WLZVJVU[YHJ[\HS
HTV\U[Z!

2021 2021
;Y\Z[KLWHY[TLU[HJJV\U[Z5V[L P223,398,641 P P223,398,641 P
Committed credit lines 12,765,975 12,765,975
<U\ZLKJVTTLYJPHSSL[[LYZVMJYLKP[5V[L 12,971,604 12,877,643
-VYLPNUL_JOHUNLIV\NO[ 35,113,101 35,113,101
-VYLPNUL_JOHUNLZVSK 22,898,059 22,898,059
Credit card lines 14,320,597 14,320,597
09:YLJLP]HISL 83,669,379 83,669,379
6\[Z[HUKPUNN\HYHU[LLZPZZ\LK 1,274,727 743,643
0U^HYKIPSSZMVYJVSSLJ[PVU 1,229,608 1,229,608
:[HUKI`JYLKP[JVTTP[TLU[ 3,565,978 3,565,978
:WV[L_JOHUNLZVSK 1,653,448 1,653,448
:WV[L_JOHUNLIV\NO[ 1,347,052 1,347,052
+LÄJPLUJ`JSHPTZYLJLP]HISL 281,780 281,780
3H[LKLWVZP[ZWH`TLU[ZYLJLP]LK 46,125 37,805
6\[^HYKIPSSZMVYJVSSLJ[PVU 18,336 16,469
6[OLYZ 105,768 105,664
32. SEGMENT INFORMATION
;OL.YV\W»ZVWLYH[PUNI\ZPULZZLZHYLYLJVNUPaLKHUKTHUHNLKZLWHYH[LS`HJJVYKPUN[V[OLUH[\YLVMZLY]PJLZWYV]PKLKHUK[OLTHYRL[Z
served, with each segment representing a strategic business unit.
;OL.YV\W»ZI\ZPULZZZLNTLU[ZHYLHZMVSSV^Z!
a. 3LUKPUN)\ZPULZZ¶WYPUJPWHSSÒHUKSLZHSS[OLSLUKPUN[YHKLÄUHUJLHUKJVYVSSHYÌHURPUNWYVK\J[ZHUKZLY]PJLZVќLYLK[VJVYWVYH[L
and institutional customers as well as selected middle market clients. It also handles home loans, contract-to-sell receivables, auto
SVHUZHUKJYLKP[JHYKZMVYPUKP]PK\HSHUKVYJVYWVYH[LJ\Z[VTLYZ(ZPKLMYVT[OLSLUKPUNI\ZPULZZP[HSZVWYV]PKLZJHZOTHUHNLTLU[
ZLY]PJLZ"
b. 9L[HPS )HURPUN )\ZPULZZ ¶ WYPUJPWHSS` OHUKSLZ YL[HPS HUK JVTTLYJPHS SVHUZ PUKP]PK\HS HUK JVYWVYH[L KLWVZP[Z V]LYKYHM[Z HUK M\UKZ
[YHUZMLYMHJPSP[PLZ[YHKLMHJPSP[PLZHUKHSSV[OLYZLY]PJLZMVYYL[HPSJ\Z[VTLYZ"
c. -PUHUJPHS4HYRL[Z¶WYPUJPWHSS`WYV]PKLZTVUL`THYRL[[YHKPUNHUK[YLHZ\Y`ZLY]PJLZTHUHNLZ[OL.YV\W»ZM\UKPUNVWLYH[PVUZI`[OL
\ZLVMNV]LYUTLU[ZLJ\YP[PLZWSHJLTLU[ZHUKHJJLW[HUJLZ^P[OV[OLYIHURZHZ^LSSHZVќLYZHK]PZVY`HUKJHWP[HSYHPZPUNZLY]PJLZ[V
JVYWVYH[LJSPLU[ZHUKYLTP[[HUJL[YHUZHJ[PVUZ"HUK
d. 6[OLYZ¶OHUKSLZV[OLYZLY]PJLZPUJS\KPUNI\[UV[SPTP[LK[V[Y\Z[HUKPU]LZ[TLU[THUHNLTLU[ZLY]PJLZ^LHS[OTHUHNLTLU[ZLY]PJLZ
[VOPNOUL[^VY[OJ\Z[VTLYZHZZL[THUHNLTLU[PUZ\YHUJLIYVRLYHNLJYLKP[THUHNLTLU[[OYPM[IHURPUNI\ZPULZZVWLYH[PVUZHUK
ÄUHUJPHSJVU[YVSHUKV[OLYZ\WWVY[ZLY]PJLZ
;OL.YV\W»ZI\ZPULZZLZHYLVYNHUPaLK[VJH[LY[V[OLIHURPUNULLKZVMTHYRL[ZLNTLU[ZMHJPSP[H[LJ\Z[VTLYLUNHNLTLU[LUZ\YL[PTLS`
KLSP]LY` VM WYVK\J[Z HUK ZLY]PJLZ HZ ^LSS HZ HJOPL]L JVZ[ LѝJPLUJ` HUK LJVUVTPLZ VM ZJHSL (JJVYKPUNS` [OL JVYYLZWVUKPUN ZLNTLU[
PUMVYTH[PVUMVYHSSWLYPVKZWYLZLU[LKOLYLPUHYLYLZ[H[LK[VYLÅLJ[Z\JOJOHUNL
;OL.YV\WYLWVY[ZP[ZWYPTHY`ZLNTLU[PUMVYTH[PVU[V[OL*OPLM6WLYH[PUN+LJPZPVU4HRLY*6+4VU[OLIHZPZVM[OLHIV]LTLU[PVULK
ZLNTLU[Z;OL*6+4VM[OL.YV\WPZ[OL7YLZPKLU[
:LNTLU[HZZL[ZHYL[OVZLVWLYH[PUNHZZL[Z[OH[HYLLTWSV`LKI`HZLNTLU[PUP[ZVWLYH[PUNHJ[P]P[PLZ[OH[HYLLP[OLYKPYLJ[S`H[[YPI\[HISL[V
the segment or can be allocated to the segment on a reasonable basis.
:LNTLU[SPHIPSP[PLZHYL[OVZLVWLYH[PUNSPHIPSP[PLZ[OH[YLZ\S[MYVT[OLVWLYH[PUNHJ[P]P[PLZVMHZLNTLU[HUK[OH[LP[OLYHYLKPYLJ[S`H[[YPI\[HISL
to the segment or can be allocated to the segment on a reasonable basis.
0U[LYLZ[PUJVTLPZYLWVY[LKUL[HZTHUHNLTLU[WYPTHYPS`YLSPLZVU[OLUL[PU[LYLZ[PUJVTLHZWLYMVYTHUJLTLHZ\YLUV[[OLNYVZZPUJVTL
and expense.
;OL ZLNTLU[ YLZ\S[Z PUJS\KL PU[LYUHS [YHUZMLY WYPJPUN HKQ\Z[TLU[Z HJYVZZ I\ZPULZZ \UP[Z HZ KLLTLK HWWYVWYPH[L I` THUHNLTLU[
;YHUZHJ[PVUZIL[^LLUZLNTLU[ZHYLJVUK\J[LKH[LZ[PTH[LKTHYRL[YH[LZVUHUHYT»ZSLUN[OIHZPZ0U[LYLZ[PZJOHYNLKJYLKP[LK[V[OL
I\ZPULZZ\UP[ZIHZLKVUP[ZHZZL[Z»HUKSPHIPSP[PLZ»YLWYPJPUNVYTH[\YP[`KH[L\ZPUNTHYRL[IHZLK`PLSKJ\Y]LHWWYV]LKI`[OL(ZZL[3PHIPSP[`
*VTTP[[LL(3*6
6[OLYVWLYH[PUNPUJVTLTHPUS`JVUZPZ[ZVM[YHKPUNHUKZLJ\YP[PLZNHPUSVZZòUL[ZLY]PJLJOHYNLZMLLZHUKJVTTPZZPVUZ[Y\Z[MLLPUJVTL
HUKMVYLPNUL_JOHUNLNHPUòUL[6[OLYVWLYH[PUNL_WLUZLTHPUS`JVUZPZ[ZVMJVTWLUZH[PVUHUKMYPUNLILULÄ[ZWYV]PZPVUMVYPTWHPYTLU[
HUKJYLKP[SVZZLZ[H_LZHUKSPJLUZLZVJJ\WHUJ`KLWYLJPH[PVUHUKHTVY[PaH[PVUZ[H[PVULY`Z\WWSPLZHUKWVZ[HNLHUKPUZ\YHUJL6[OLY
operating income and expense are allocated between segments based on equitable sharing arrangements.
;OL.YV\WOHZUVZPNUPÄJHU[J\Z[VTLYZÔPJOJVU[YPI\[LZVYTVYLVM[OLJVUZVSPKH[LKYL]LU\LZ
;OL .YV\W»Z HZZL[ WYVK\JPUN YL]LU\LZ HYL SVJH[LK PU [OL 7OPSPWWPULZ PL VUL NLVNYHWOPJHS SVJH[PVU" [OLYLMVYL NLVNYHWOPJHS ZLNTLU[
PUMVYTH[PVUPZUVSVUNLYWYLZLU[LK
;OLMVSSV^PUN[HISLZWYLZLU[YLSL]HU[ÄUHUJPHSPUMVYTH[PVUYLNHYKPUNI\ZPULZZZLNTLU[ZTLHZ\YLKPUHJJVYKHUJL^P[O7-9:HZVMHUKMVY[OL
`LHYZLUKLK+LJLTILYHUK !
Lending Business Retail Banking Business

2021 2021
Results of Operations
5L[PU[LYLZ[PUJVTL
Third party P27,868,124 P P P2,246,145 (P (P
Intersegment (16,451,310) 16,743,174
11,416,814 18,989,319
6[OLYVWLYH[PUNPUJVTL 949,677 2,371,764
Total revenue 12,366,491 21,361,083
6[OLYVWLYH[PUNL_WLUZL (3,672,205) (11,253,327)
0UJVTLILMVYLWYV]PZPVUZHUK[H_LZ 8,694,286 10,107,756

7YV]PZPVUMVYPTWHPYTLU[HUKJYLKP[
losses (6,898,860) (719,487)
0UJVTLILMVYLPUJVTL[H_ 1,795,426 9,388,269
7YV]PZPVUMVYPUJVTL[H_ (1,481) (1,545,289)
5L[PUJVTL P1,793,945 (P P P7,842,980 P P
Total assets P505,883,838 P P P628,223,856 P P
Total liabilities P1,998,355 P P P658,061,048 P P
+LWYLJPH[PVUHUKHTVY[PaH[PVU 50,765 P P P803,283 P P
Capital expenditures P335,084 P P P416,119 P P

Financial Markets Other Business and Support Units

2021 2021
5L[PU[LYLZ[PUJVTL
Third party P3,511,779 P P P4,688,108 P P
Intersegment (373,322) 81,458
3,138,457 4,769,566
6[OLYVWLYH[PUNPUJVTL 4,919,675 2,119,828
Total revenue 8,058,132 6,889,394
6[OLYVWLYH[PUNL_WLUZL (2,309,853) (5,099,748)
0UJVTLILMVYLWYV]PZPVUZHUK[H_LZ 5,748,279 1,789,646
7YV]PZPVUMVYPTWHPYTLU[HUK (61,124) (1,197,273)
credit losses
0UJVTLILMVYLPUJVTL[H_ 5,687,155 592,373
7YV]PZPVUMVYPUJVTL[H_ (728,056) (82,174)
5L[PUJVTL P4,959,099 P P P510,199 (P (P
Total assets P313,935,966 P P (P335,724,134) (P (P
Total liabilities P184,942,985 P P P148,194,318 P P
+LWYLJPH[PVUHUKHTVY[PaH[PVU P34,554 P P P898,564
Capital expenditures P207,943 P P (P222,375) P¶ P¶
Total
2021
5L[PU[LYLZ[PUJVTL
Third party P38,314,156 P P
Intersegment – – ò
38,314,156
6[OLYVWLYH[PUNPUJVTL 10,360,944
Total revenue 48,675,100
6[OLYVWLYH[PUNL_WLUZL (22,335,133)
0UJVTLILMVYLWYV]PZPVUZHUK[H_LZ 26,339,967
7YV]PZPVUMVYPTWHPYTLU[HUKJYLKP[SVZZLZ (8,876,744)
0UJVTLILMVYLPUJVTL[H_ 17,463,223
7YV]PZPVUMVYPUJVTL[H_ (2,357,000)
5L[PUJVTL P15,106,223 P P
Total assets P1,112,319,526 P P
Total liabilities P993,196,706 P P
+LWYLJPH[PVUHUKHTVY[PaH[PVU P1,787,166 P P
Capital expenditures P487,005 P P
;OL.YV\W»ZZOHYLPUUL[PUJVTLSVZZVMHUHZZVJPH[LPUJS\KLKPUV[OLYVWLYH[PUNPUJVTLHTV\U[PUN[VPTPSSPVUPTPSSPVUHUK
PTPSSPVUPUHUK YLZWLJ[P]LS`HYLYLWVY[LK\UKLYº6[OLY)\ZPULZZHUK:\WWVY[<UP[Z»
33. EARNINGS PER SHARE
)HZPJ,7:HTV\U[ZHYLJHSJ\SH[LKI`KP]PKPUN[OLUL[PUJVTLMVY[OL`LHYI`[OL^LPNO[LKH]LYHNLU\TILYVMJVTTVUZOHYLZV\[Z[HUKPUN
K\YPUN[OL`LHYHKQ\Z[LKMVYZ[VJRKP]PKLUKZ
;OLMVSSV^PUNYLÅLJ[Z[OLPUJVTLHUKZOHYLKH[H\ZLKPU[OLIHZPJLHYUPUNZWLYZOHYLJVTW\[H[PVUZ!
2021

H 5L[PUJVTLH[[YPI\[HISL[VLX\P[ÒVSKLYZVM[OLWHYLU[ P15,088,332 P P
I >LPNO[LKH]LYHNLU\TILYVMJVTTVUZOHYLZV\[Z[HUKPUN¶IHZPJ
5V[L 2,687,696
J >LPNO[LKH]LYHNLU\TILYVMJVTTVUZOHYLZV\[Z[HUKPUN¶
KPS\[LK5V[L – –
d. Basic (a/b) and diluted (a/c) earnings per share* P5.61 P P
-VY[OL`LHYLUKLK+LJLTILY[OLIHZPJHUKKPS\[LK,7:HYL[OLZHTLHM[LYYV\UKPUNVќ
7YPVY[V:LW[LTILY[OL.YV\W»ZJLU[LUUPHSZ[VJRNYHU[ZHYLWV[LU[PHSJVTTVUZOHYLZ[OH[OH]LKPS\[P]LLќLJ[[V[OL,7:(JJVYKPUNS`
HM[LYHKQ\Z[PUN[OLKPS\[P]LWV[LU[PHSJVTTVUZOHYLZHYPZPUNMYVT[OLJLU[LUUPHSZ[VJRNYHU[Z[V[OL^LPNO[LKH]LYHNLU\TILYVMJVTTVU
ZOHYLZ[OLKPS\[LK,7:HTV\U[LK[VP(ZVM+LJLTILY[OLYL^LYLUVV\[Z[HUKPUNKPS\[P]LWV[LU[PHSJVTTVUZOHYLZ
34. SUPPLEMENTARY INFORMATION FOR CASH FLOW ANALYSIS
;OLMVSSV^PUNPZHZ\TTHY`VMJLY[HPUUVUòJHZOPU]LZ[PUNHJ[P]P[PLZ[OH[YLSH[L[V[OLHUHS`ZPZVM[OLZ[H[LTLU[ZVMJHZOÅV^Z!
Consolidated
2021
(KKP[PVU[VPU]LZ[TLU[WYVWLY[PLZMYVTZL[[SLTLU[VMSVHUZ P752,756 P P
-HPY]HS\LNHPUVU-=6*0ÄUHUJPHSHZZL[Z (50,087)
*\T\SH[P]L[YHUZSH[PVUHKQ\Z[TLU[ 12,270
(KKP[PVU[VJOH[[LSTVY[NHNLMYVTZL[[SLTLU[VMSVHUZ 596,009
Parent Company
2021
(KKP[PVU[VPU]LZ[TLU[WYVWLY[PLZMYVTZL[[SLTLU[VMSVHUZ P81,136 P P
-HPY]HS\LNHPUSVZZPU-=6*0ÄUHUJPHSHZZL[Z (16,220)
*\T\SH[P]L[YHUZSH[PVUHKQ\Z[TLU[ 465
(KKP[PVU[VJOH[[LSTVY[NHNLMYVTZL[[SLTLU[VMSVHUZ 15,830
;OLMVSSV^PUN[HISLZOV^Z[OLYLJVUJPSPH[PVUHUHS`ZPZVMIVUKZWH`HISLIPSSZWH`HISLHUKSLHZLSPHIPSP[`\UKLYÄUHUJPUNHJ[P]P[PLZMVYIV[O[OL
.YV\WHUK7HYLU[*VTWHU`[OL`LHYZLUKLK+LJLTILYHUK!
Consolidated
2021
Bills Payable Bonds Payable Lease Liability Total
Balance at beginning of year P23,655,851 P52,065,678 P2,996,003 P78,717,532
&DVKñRZVGXULQJWKH\HDU
Proceeds 193,908,669 19,878,458 – 213,787,127
Settlement/payment (152,843,847) (30,000,000) (792,745) (183,636,592)
Non-cash changes
Additions – – 447,449 447,449
Amortization – 83,022 195,311 278,333
Foreign exchange movement 1,085,601 446,400 – 1,532,001
Balance at end of year P65,806,274 P42,473,558 P2,846,018 P111,125,850

Consolidated

Bills Payable Bonds Payable 3LHZL3PHIPSP[` Total
)HSHUJLH[ILNPUUPUNVM`LHY P P P P
*HZOÅV^ZK\YPUN[OL`LHY
Proceeds –
:L[[SLTLU[WH`TLU[ –
5VUJHZOJOHUNLZ
(KKP[PVUZ – –
(TVY[PaH[PVU –
-VYLPNUL_JOHUNLTV]LTLU[ –
)HSHUJLH[LUKVM`LHY P P P P
Parent Company
2021
Bills Payable Bonds Payable Lease Liability Total
Balance at beginning of year P23,655,851 P52,065,678 P2,392,891 P78,114,420
&DVKñRZVGXULQJWKH\HDU
Proceeds 193,908,669 19,878,458 – 213,787,127
Settlement/payment (152,843,847) (30,000,000) (562,590) (183,406,437)
Non-cash changes
Additions – – 205,402 205,402
Amortization – 83,022 152,195 235,217
Foreign exchange movement 1,085,601 446,400 – 1,532,001
Balance at end of year P65,806,274 P42,473,558 P2,187,898 P110,467,730
Parent Company

Bills Payable Bonds Payable 3LHZL3PHIPSP[` Total
)HSHUJLH[ILNPUUPUNVM`LHY P P P P
*HZOÅV^ZK\YPUN[OL`LHY
Proceeds –
:L[[SLTLU[ –
5VUJHZOJOHUNLZ
(KKP[PVUZ – –
(TVY[PaH[PVU –
-VYLPNUL_JOHUNLTV]LTLU[ –
)HSHUJLH[LUKVM`LHY P P P P
35. OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES
;OLHTLUKTLU[Z[V7-9:YLX\PYL[OL.YV\W[VKPZJSVZLPUMVYTH[PVUHIV\[YPNO[ZVMVќZL[HUKYLSH[LKHYYHUNLTLU[ZZ\JOHZJVSSH[LYHS
WVZ[PUNYLX\PYLTLU[ZMVYÄUHUJPHSPUZ[Y\TLU[Z\UKLYLUMVYJLHISLTHZ[LYUL[[PUNHNYLLTLU[ZVYZPTPSHYHYYHUNLTLU[Z;OLLќLJ[ZVM[OLZL
arrangements are disclosed in the succeeding tables.
December 31, 2021

(σHFWVRIUHPDLQLQJULJKWVRI
VHWRσLQFOXGLQJULJKWVWRVHW
Gross amounts Net amount RσðQDQFLDOFROODWHUDOWKDW
RσVHWLQ presented in GRQRWPHHW3$6RσVHWWLQJ
-PUHUJPHSPUZ[Y\TLU[Z Gross carrying accordance statements of criteria
YLJVNUPaLKH[ amounts with ðQDQFLDO Fair value of
LUKVMYLWVY[PUN (before WKHRσVHWWLQJ position Financial ðQDQFLDO Net exposure
period by type RσVHWWLQJ criteria >DĚE@ instruments collateral >FĚG@
>D@ >E@ >F@ >G@ >H@
Financial assets
:7<9( P15,800,317 P– P15,800,317 P15,800,317 P15,800,317 P–
*\YYLUJ`MVY^HYKZ 35,148,537 – 35,148,537 14,670,502 – 20,478,035
09: 675,638 – 675,638 12,966 – 662,671
P51,624,492 P– P51,624,492 P30,483,785 P15,800,317 P21,140,706
Bills payable P65,806,274 P– P65,806,274 P73,840,623 P78,154,719 P–
*\YYLUJ`MVY^HYKZ 15,597,807 – 15,597,807 14,670,502 – 927,306
09: 706,111 – 706,111 12,966 – 693,145
P82,110,192 P– P82,110,192 P88,524,092 P78,154,719 P1,620,451
+LJLTILY
,ќLJ[ZVMYLTHPUPUNYPNO[ZVM
ZL[VќPUJS\KPUNYPNO[Z[VZL[
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-PUHUJPHSPUZ[Y\TLU[Z VќZL[PU Z[H[LTLU[ZVM criteria
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period by type VќZL[[PUN criteria BHòID instruments collateral BJòKD
BHD BID BJD BKD BLD
-PUHUJPHSHZZL[Z
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09: ò ò
P Pò P P P P
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Bills payable P Pò P P P P
*\YYLUJ`MVY^HYKZ ò ò
09: ò ò
P Pò P P P P

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36. COVID-19 PANDEMIC
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businesses and economic activities, and its impact on businesses continues to evolve.
Bayanihan to Heal as One Act

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2019 (COVID-19);OLZHPKTLTVYHUK\TWYV]PKLZMVYJLY[HPU[LTWVYHY`YLN\SH[VY`HUKYLKPZJV\U[PUNYLSPLMTLHZ\YLZMVYÄUHUJPHSPUZ[P[\[PVUZ
Z\WLY]PZLKI`[OL):7(JJVYKPUNS`[OL7HYLU[*VTWHU`PUMVYTLK[OL):7VMP[ZPU[LU[PVU[VH]HPS[OLMVSSV^PUN!
7YV]PKLÄUHUJPHSHZZPZ[HUJL[VVѝJLYZHќLJ[LKI`[OLWYLZLU[OLHS[OLTLYNLUJ`Z\IQLJ[[VZ\ITPZZPVUI`[OL7HYLU[*VTWHU`VMH
YLX\LZ[MVY):7HWWYV]HS^P[OPUJHSLUKHYKH`ZMYVT[OLHWWYV]HS[OLYLVMVM[OL7HYLU[*VTWHU`»Z)VHYKVM+PYLJ[VYZ"
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YLZ[Y\J[\YPUNVMSVHUZTHÌL^HP]LKWYV]PKLK[OH[[OL)HUR^PSSHKVW[HWWYVWYPH[LHUKWY\KLU[VWLYH[PVUHSJVU[YVSTLHZ\YLZ"
5VUPTWVZP[PVUVMTVUL[HY`WLUHS[PLZMVYKLSH`ZPUJ\YYLKPU[OLZ\ITPZZPVUVMHSSZ\WLY]PZVY`YLWVY[Z[V):7K\L[VILZ\ITP[[LKMYVT
4HYJO\W[VZP_TVU[OZ[OLYLHM[LY"
(SSV^Z[HNNLYLKIVVRPUNVMHSSV^HUJLMVYJYLKP[SVZZLZJVTW\[LK\UKLY:LJ[PVUVM[OL4HU\HSVM9LN\SH[PVUMVY)HURZ469)
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5VUPTWVZP[PVUVMWLUHS[PLZVUSLNHSYLZLY]LKLÄJPLUJPLZJVTW\[LK\UKLY:LJ[PVUVM[OL469)Z[HY[PUNMYVTYLZLY]L^LLRMVSSV^PUN
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9LKPZJV\U[PUNYLSPLMHZMVSSV^Z!
a. .YHU[VMHKH`NYHJLWLYPVK\WVUHWWSPJH[PVU^P[O):7[VZL[[SLV\[Z[HUKPUNYLKPZJV\U[PUNVISPNH[PVUZHZVM4HYJO
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b. (SSV^PUN[OL7HYLU[*VTWHU`[VYLZ[Y\J[\YL^P[O):7[OLV\[Z[HUKPUNYLKPZJV\U[LKSVHUZHZVM4HYJOVMP[ZLUK\ZLY
IVYYV^LYZHќLJ[LKI`[OL*6=0+ Z\IQLJ[[V[OL[LYTZHUKJVUKP[PVUZZ[H[LKPU(WWLUKP_VM[OL469)"HUK
c. YLSH_H[PVUVMLSPNPIPSP[`YLX\PYLTLU[ZI`L_JS\KPUN[OLJYP[LYPHVUYLZLY]LYLX\PYLTLU[MVY[OLYLUL^HSVMYLKPZJV\U[PUNSPULHUKMVY[OL
H]HPSTLU[VMYLKPZJV\U[PUNSVHUZMYVT4HYJO\W[VZP_TVU[OZ[OLYLHM[LY
(ZVM+LJLTILYHUK[OLYL^HZUVHJ[\HSH]HPSTLU[VM[OLMVYLNVPUNYLN\SH[VY`YLSPLMZ
37. APPROVAL OF THE FINANCIAL STATEMENTS
;OL HJJVTWHU`PUN JVUZVSPKH[LK HUK WHYLU[ JVTWHU` ÄUHUJPHS Z[H[LTLU[Z ^LYL H\[OVYPaLK MVY PZZ\L I` [OL 7HYLU[ *VTWHU`»Z )6+ VU
-LIY\HY`
38. SUPPLEMENTARY INFORMATION REQUIRED UNDER BSP CIRCULAR 1074
7YLZLU[LKILSV^PZ[OLZ\WWSLTLU[HY`PUMVYTH[PVUYLX\PYLKI`):7\UKLY(WWLUKP_VM):7*PYJ\SHY[VILKPZJSVZLKHZWHY[VM[OL
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;OLMVSSV^PUNIHZPJYH[PVZTLHZ\YL[OLÄUHUJPHSWLYMVYTHUJLVM[OL.YV\WHUK[OL7HYLU[*VTWHU`!

2021 2021
9L[\YUVUH]LYHNLLX\P[` 13.58% 13.58%
9L[\YUVUH]LYHNLHZZL[Z 1.45% 1.58%
5L[PU[LYLZ[THYNPU 4.20% 4.02%
Description of capital instruments issued
;OL.YV\WHUK[OL7HYLU[*VTWHU`JVUZPKLYZP[ZJVTTVUZ[VJRHZJHWP[HSPUZ[Y\TLU[ZLSPNPISLHZ;PLYJHWP[HS
:PNUPÄJHU[JYLKP[L_WVZ\YLZ
Consolidated
2021
Amounts (TV\U[Z
9LHSLZ[H[LYLU[PUNHUKI\ZPULZZZLY]PJLZ P172,217,058 P
,SLJ[YPJP[`NHZHUK^H[LY 76,631,134
Wholesale and retail trade 45,125,057
Transportation, storage and communication 58,116,995
-PUHUJPHSPU[LYTLKPHYPLZ 91,545,065
4HU\MHJ[\YPUN 34,264,150
(Y[ZLU[LY[HPUTLU[HUKYLJYLH[PVU 33,762,320
(JJVTTVKH[PVUHUKMVVKZLY]PJLHJ[P]P[PLZ 11,379,789
Construction 10,387,329
4PUPUNHUKX\HYY`PUN 10,967,237
(NYPJ\S[\YL 7,312,462
,K\JH[PVU 4,446,512
7\ISPJHKTPUPZ[YH[PVUHUKKLMLUZL 60,036
7YVMLZZPVUHSZJPLU[PÄJHUK[LJOUPJHSHJ[P]P[PLZ 841,426
6[OLYZ 67,268,149
P624,324,719 P

Parent Company
2021
Amounts (TV\U[Z
9LHSLZ[H[LYLU[PUNHUKI\ZPULZZZLY]PJLZ P149,067,673 P
,SLJ[YPJP[`NHZHUK^H[LY 74,796,648
-PUHUJPHSPU[LYTLKPHYPLZ 90,964,720
Wholesale and retail trade 42,312,303 8.98
Transportation, storage and communication 56,097,019
4HU\MHJ[\YPUN 32,469,098
(Y[ZLU[LY[HPUTLU[HUKYLJYLH[PVU 33,719,927
(JJVTTVKH[PVUHUKMVVKZLY]PJLHJ[P]P[PLZ 10,740,999
Construction 9,545,693
4PUPUNHUKX\HYY`PUN 10,966,519
(NYPJ\S[\YL 5,897,613
7\ISPJHKTPUPZ[YH[PVUHUKKLMLUZL 60,036
,K\JH[PVU 4,023,325
7YVMLZZPVUHSZJPLU[PÄJHUK[LJOUPJHSHJ[P]P[PLZ 761,461
6[OLYZ 35,415,712
P556,838,746 P
;OL):7JVUZPKLYZ[OH[SVHUJVUJLU[YH[PVUL_PZ[ZÔLU[OL[V[HSSVHUL_WVZ\YL[VHWHY[PJ\SHYPUK\Z[Y`VYLJVUVTPJZLJ[VYL_JLLKZ
VM[V[HSSVHUWVY[MVSPV(ZVM+LJLTILYHUK[OL7HYLU[*VTWHU`KVLZUV[OH]LJYLKP[JVUJLU[YH[PVUPUHU`WHY[PJ\SHYPUK\Z[Y`
Status of loans
0UMVYTH[PVUVU[OLHTV\U[ZVMWLYMVYTPUNHUKUVUWLYMVYTPUNSVHUZHUKYLJLP]HISLZNYVZZVMHSSV^HUJLMVYPTWHPYTLU[HUKJYLKP[SVZZLZVM
[OL.YV\WHUK7HYLU[*VTWHU`HYLHZMVSSV^Z!
Consolidated
2021
Non- 5VU
Performing Performing Total 7LYMVYTPUN 7LYMVYTPUN Total
3VHUZHUKKPZJV\U[Z
Corporate and commercial lending P479,884,768 P9,088,162 P488,972,930 P P P
*VUZ\TLYSLUKPUN!
/V\ZPUN 80,518,808 3,948,376 84,467,184
(\[V 17,922,533 1,280,521 19,203,054
Credit Card 1,294,196 79,525 1,373,721
6[OLYZ 16,783,524 693,141 17,476,994
Trade-related lending 12,197,050 256,502 12,453,552
6[OLYZ 111,998 5,237 116,907
P608,712,877 P15,351,465 P624,064,342 P P P
Parent Company
2021
Non- 5VU
Performing Performing Total 7LYMVYTPUN 7LYMVYTPUN Total
3VHUZHUKKPZJV\U[Z
Corporate and commercial lending P466,015,296 P6,609,892 P472,625,188 P P P
*VUZ\TLYSLUKPUN!
/V\ZPUN 61,463,351 3,360,182 64,823,533
(\[V 5,208,436 527,528 5,735,964
Credit Card 1,294,196 79,525 1,373,721
6[OLYZ 3,066 – 3,394 –
Trade-related lending 11,852,404 227,455 12,079,859
6[OLYZ 19,961 330 19,963
P545,856,710 P10,804,912 P556,661,622 P P P
Loans per security
(ZVM+LJLTILYHUKZLJ\YLKHUK\UZLJ\YLKUVUWLYMVYTPUNSVHUZ573ZVM[OL.YV\WHUK[OL7HYLU[*VTWHU`MVSSV^!

2021 2021
:LJ\YLK P6,909,212 P P4,140,525 P
<UZLJ\YLK 8,442,253 6,664,388
P15,351,465 P P10,804,913 P
(JJVYKPUN[V):7*PYJ\SHY (TLUKTLU[Z[V[OL9LN\SH[PVUZVU7HZ[+\LHUK5VU7LYMVYTPUN3VHUZLќLJ[P]L1HU\HY`SVHUZ
ZOHSSILJVUZPKLYLKUVUWLYMVYTPUNL]LU^P[OV\[HU`TPZZLKJVU[YHJ[\HSWH`TLU[ZÔLUP[PZJVUZPKLYLKPTWHPYLK\UKLYL_PZ[PUNHJJV\U[PUN
Z[HUKHYKZJSHZZPÄLKHZKV\I[M\SVYSVZZPUSP[PNH[PVUHUKVY[OLYLPZL]PKLUJL[OH[M\SSYLWH`TLU[VMWYPUJPWHSHUKPU[LYLZ[PZ\USPRLS`^P[OV\[
MVYLJSVZ\YLVMJVSSH[LYHSPMHU`(SSV[OLYSVHUZL]LUPMUV[JVUZPKLYLKPTWHPYLKZOHSSILJVUZPKLYLKUVUWLYMVYTPUNPMHU`WYPUJPWHSHUKVY
PU[LYLZ[HYL\UWHPKMVYTVYL[OHUUPUL[` KH`ZMYVTJVU[YHJ[\HSK\LKH[LVYHJJY\LKPU[LYLZ[ZMVYTVYL[OHUUPUL[` KH`ZOH]LILLU
JHWP[HSPaLKYLÄUHUJLKVYKLSH`LKI`HNYLLTLU[
0UMVYTH[PVUVU[OLHTV\U[ZVMZLJ\YLKHUK\UZLJ\YLKSVHUZHUKYLJLP]HISLZNYVZZVM\ULHYULKKPZJV\U[ZHUKHSSV^HUJLMVYPTWHPYTLU[HUK
JYLKP[SVZZLZVM[OL.YV\WHUK7HYLU[*VTWHU`HYLHZMVSSV^Z!

2021 2021
Amounts (TV\U[Z Amounts (TV\U[Z
3VHUZZLJ\YLKI`
9LHSLZ[H[L P85,021,052 P P58,622,700 P
Chattel mortgage 22,096,827 7,459,462
.\HYHU[LLI`[OL
9LW\ISPJVM[OL7OPSPWWPULZ 3,315 3,315
+LWVZP[OVSKV\[ 2,506,588 2,214,506
:OHYLZVMZ[VJRVM
other banks 8,350,600 8,350,600
6[OLYZ 82,803,122 82,680,304
200,781,504 159,330,887
<UZLJ\YLKSVHUZ 423,543,215 397,507,859
P624,324,719 P P556,838,746 P

Secured liability and assets pledged as security
;OL JHYY`PUN HTV\U[ VM MVYLPNU J\YYLUJ`KLUVTPUH[LK PU]LZ[TLU[ ZLJ\YP[PLZ H[ HTVY[PaLK JVZ[ WSLKNLK I` [OL 7HYLU[ *VTWHU` HZ
JVSSH[LYHSMVYP[ZPU[LYIHURIVYYV^PUNZHTV\U[LK[VPIPSSPVUHUKP IPSSPVUHZVM+LJLTILYHUKYLZWLJ[P]LS`
;OLJHYY`PUNHTV\U[VM[OLWLZVKLUVTPUH[LKPU]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[WSLKNLKI`[OL7HYLU[*VTWHU`HZJVSSH[LYHSMVY
its interbank borrowings amounted to P IPSSPVUHUKPIPSSPVUHZVM+LJLTILYHUKYLZWLJ[P]LS`;OLMHPY]HS\L
VMPU]LZ[TLU[ZLJ\YP[PLZH[HTVY[PaLKJVZ[WSLKNLKHZJVSSH[LYHSHTV\U[LK[VPIPSSPVUHUKPIPSSPVUHZVM+LJLTILY
HUKYLZWLJ[P]LS`;OLHNNYLNH[LMHPY]HS\LVMÄUHUJPHSHZZL[ZH[-=6*0WSLKNLKHZJVSSH[LYHSHTV\U[LK[VPIPSSPVUHUKUPSHZVM
+LJLTILYHUKYLZWLJ[P]LS`
Related party loans

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Z[VJROVSKLYZHUKYLSH[LKPU[LYLZ[Z+6:90<UKLYL_PZ[PUNIHURPUNYLN\SH[PVUZ[OLSPTP[VU[OLHTV\U[VMPUKP]PK\HSSVHUZ[V+6:90VMÔPJO
T\Z[ILZLJ\YLKZOV\SKUV[L_JLLK[OLYLN\SH[VY`JHWP[HSVYVM[OL[V[HSSVHUWVY[MVSPVÔPJOL]LYPZSV^LY;OLZLSPTP[ZKV
UV[HWWS`[VSVHUZZLJ\YLKI`HZZL[ZJVUZPKLYLKHZUVUYPZRHZKLÄULKPU[OLYLN\SH[PVUZ
):7*PYJ\SHY5VKH[LK4HYJOHTLUKLK[OLKLÄUP[PVUVM+6:90HJJV\U[Z;OLMVSSV^PUN[HISLZOV^ZPUMVYTH[PVUYLSH[PUN[V
[OLSVHUZV[OLYJYLKP[HJJVTTVKH[PVUZHUKN\HYHU[LLZJSHZZPÄLKHZ+6:90HJJV\U[Z\UKLYYLN\SH[PVUZL_PZ[PUNWYPVY[VZHPK*PYJ\SHYHUK
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Consolidated
2021 2020
Related Party 9LSH[LK7HY[`3VHUZ
Loans (inclusive of PUJS\ZP]LVM+6:90
DOSRI Loans DOSRI Loans) +6:903VHUZ 3VHUZ
;V[HSV\[Z[HUKPUN+6:90SVHUZ P8,734,613 P55,963,128 P P
7LYJLU[VM+6:909LSH[LK7HY[`SVHUZ[V
[V[HSSVHUWVY[MVSPV 1.40% 8.96%
7LYJLU[VM\UZLJ\YLK+6:909LSH[LK7HY[`
SVHUZ[V[V[HSV\[Z[HUKPUN+6:90
9LSH[LK7HY[`SVHUZ 0.37% 75.56%
7LYJLU[WHZ[K\L+6:909LSH[LK7HY[`
9LSH[LK7HY[`SVHUZ Ě Ě ò ò
7LYJLU[VMUVUWLYMVYTPUN+6:909LSH[LK
Party loans to total outstanding
+6:909LSH[LK7HY[`SVHUZ Ě Ě ò ò
Parent
2021 2020
Related Party 9LSH[LK7HY[`3VHUZ
Loans (inclusive of PUJS\ZP]LVM+6:90
DOSRI Loans DOSRI Loans) +6:903VHUZ 3VHUZ
6\[Z[HUKPUN+6:90SVHUZ P8,727,598 P55,955,965 P P
7LYJLU[VM+6:909LSH[LK7HY[`SVHUZ[V
[V[HSSVHUWVY[MVSPV 1.57% 10.05%
7LYJLU[VM\UZLJ\YLK+6:909LSH[LK7HY[`
9LSH[LK7HY[`SVHUZ 0.37% 75.57%
7LYJLU[WHZ[K\L+6:909LSH[LK7HY[`
9LSH[LK7HY[`SVHUZ Ě Ě ò ò
7LYJLU[VMUVUWLYMVYTPUN+6:909LSH[LK
Party loans to total outstanding
+6:909LSH[LK7HY[`SVHUZ Ě Ě ò ò
;OL HTV\U[Z VM SVHUZ KPZJSVZLK MVY YLSH[LK WHY[PLZ HIV]L KPќLY ^P[O [OL HTV\U[Z KPZJSVZLK MVY RL` THUHNLTLU[ WLYZVUULS ZPUJL [OL
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[OLSLUKPUNIHURX\HZPIHURHYLUV[YLSH[LKPU[LYLZ[VMHU`KPYLJ[VYVѝJLYHUKVYZ[VJROVSKLYVM[OLSLUKPUNPUZ[P[\[PVUL_JLW[ÔLYLZ\JO
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6U4H` ):7PZZ\LK*PYJ\SHY5VHSSV^PUNHZLWHYH[LPUKP]PK\HSSPTP[VM[^LU[`òÄ]LVM[OLUL[^VY[OVM[OLSLUKPUN

IHURX\HZPòIHUR[VSVHUZVMIHURZX\HZPòIHURZ[V[OLPYZ\IZPKPHYPLZHUKHѝSPH[LZLUNHNLKPULULYN`HUKWV^LYNLULYH[PVU
Commitments and contingencies
;OLMVSSV^PUNPZHZ\TTHY`VMJVU[PUNLUJPLZHUKJVTTP[TLU[ZVM[OL.YV\WHUK[OL7HYLU[*VTWHU`^P[O[OLLX\P]HSLU[WLZVJVU[YHJ[\HS
HTV\U[Z!

2021 2021
Trust department accounts P223,398,641 P P223,398,641 P
Committed credit lines 12,765,975 12,765,975
<U\ZLKJVTTLYJPHSSL[[LYZVMJYLKP[ 12,971,604 12,877,643
-VYLPNUL_JOHUNLIV\NO[ 35,113,101 35,113,101
-VYLPNUL_JOHUNLZVSK 22,898,059 22,898,059
Credit card lines 14,320,597 14,320,597
09:YLJLP]HISL 83,669,379 83,669,379
6\[Z[HUKPUNN\HYHU[LLZPZZ\LK 1,274,727 743,643
0U^HYKIPSSZMVYJVSSLJ[PVU 1,229,608 1,229,608
:[HUKI`JYLKP[JVTTP[TLU[ 3,565,978 3,565,978
:WV[L_JOHUNLZVSK 1,653,448 1,653,448
:WV[L_JOHUNLIV\NO[ 1,347,052 1,347,052
+LÄJPLUJ`JSHPTZYLJLP]HISL 281,780 281,780
3H[LKLWVZP[ZWH`TLU[ZYLJLP]LK 46,125 37,805
6\[^HYKIPSSZMVYJVSSLJ[PVU 18,336 16,469
6[OLYZ 105,768 105,664

39. :<773,4,5;(9@05-694(;0659,8<09,+<5+,99956ò
0UJVTWSPHUJL^P[O[OLYLX\PYLTLU[ZZL[MVY[OI`995VòOLYL\UKLYHYL[OLKL[HPSZVMWLYJLU[HNLHUKV[OLY[H_LZWHPKVYHJJY\LK
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.YVZZYLJLPW[Z[H_ P
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-YPUNLILULÄ[[H_
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Withholding Taxes
+L[HPSZVM[V[HSYLTP[[HUJLZVM^P[OOVSKPUN[H_LZPUHUKHTV\U[ZV\[Z[HUKPUNHZVM+LJLTILYHYLHZMVSSV^Z!
Total (TV\U[Z
remittances outstanding
-PUHS^P[OOVSKPUN[H_LZ P P
>P[OOVSKPUN[H_LZVUJVTWLUZH[PVUHUKILULÄ[Z
,_WHUKLK^P[OOVSKPUN[H_LZ
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(ZVM+LJLTILY[OL7HYLU[*VTWHUÒHZUVWLUKPUN[H_HZZLZZTLU[UV[PJLMYVT[OL)09
China Bank Branches
102-4
MAKATI MAIN BRANCH (HO) ARRANQUE BEL-AIR BONNY SERRANO

CBC Bldg., 8745 Paseo de Roxas Don Felipe Building 2/F Saville Bldg., Gil Puyat Ave. cor. G/F Greenhills Garden Square,
cor. Villar Sts., Makati City 675 Tomas Mapua St., Sta. Cruz, Manila Paseo de Roxas St., Makati City 297 Col. Bonny Serrano Ave.,
Trunkline: 8885-5555 Tel. Nos.: 8733-3477; 8734-4777 Tel. Nos.: 8897-2212; 8899-4186 Quezon City
(Private Exchange Connecting All 8733-7704; 8733-8335 8899-0685 Tel. Nos.: 3410-0677; 8997-8043
Departments) 8733-8336; 8733-8337 Fax No.: 8890-4062 8997-8031
Fax Nos.: 8892-0220; 8817-1325 8733-8338; 8733-8339 Fax No.: 3410-0677
8733-8340; 8734-4497 BEL-AIR – JUPITER
BINONDO BUSINESS CENTER 8734-4501; 8734-4506 Buendia Car Exchange, CAINTA
CBC Bldg., Dasmariñas Fax No.: 8733-3481 Jupiter Street, Makati City CBC Bldg (Beside Sta. Lucia East Mall)
cor. Juan Luna Sts., Binondo, Manila Tel. Nos.: 8403-5970; 8403-6062 Felix Ave. (Imelda Ave.), Cainta, Rizal
Trunklines: 8247-5388; 8885-5222 AURORA BLVD. – NEW MANILA Fax No.: 8403-6062 Tel. Nos.: 8646-0691; 8646-0693;
(Private Exchange Connecting All Aurora Blvd., Brgy. Valencia, 8645-9974; 8682-1795
Departments) Quezon City BETTER LIVING SUBD. Fax No.: 8646-0050
Fax Nos.: 8241-7058; 8242-7225 Tel. Nos.: 8727-4192; 8727-4171 128 Doña Soledad Ave., Parañaque City
Fax No.: 8727-4171 Tel. Nos.: 8556-3467; 8556-3468 CAINTA – POBLACION
8556-3470 A. Bonifacio Ave., Poblacion,
METRO MANILA ASUNCION Fax No.: 8556-3470 Cainta, Rizal
Units G6 & G7 Chinatown Steel Towers, Tel. Nos.: 8637-1935
999 MALL Asuncion St., San Nicolas, Manila BF HOMES Fax No.: 8637-6634
Unit 3D-5; 3D-7 999 Shopping Mall Tel. Nos.: 8241-2311; 8241-2359; Aguirre cor. El Grande Aves.,
Bldg. 2, Recto-Soler Sts. 8241-2361; 8241-2335 United BF Homes, Parañaque City CAPITOL HILLS
Binondo, Manila Fax No.: 8241-2352 Tel. Nos.: 8825-6138; 8825-6891 G/F 88 Design Pro Building,
Tel. Nos.: 8523-1216; 8523-1217 8825-6828 Capitol Hills, Old Balara, Quezon City
8523-1218; 8523-1219 AYALA – ALABANG Fax No.: 8825-5979 Tel. Nos.: 8952-7776; 8952-7805
Fax No.: 8523-1215 G/F, CBC-Building Acacia Ave., 8952-7804
Madrigal Business Park, Ayala Alabang, BF HOMES – AGUIRRE Fax No.: 8952-7806
A. BONIFACIO – MAUBAN Muntinlupa City Margarita Centre, Aguirre Ave.
G/F Urban Oasis Residences, Tel. Nos.: 8807-0673; 8807-0674; corner Elsie Gaches Street, CIRCUIT MAKATI
423-431., A. Bonifacio Ave., 8850-3785; 8850-9640; BF Homes, Parañaque City Level 3, Ayala Mall, Circuit Makati,
Brgy. San Jose, Quezon City 8850-8888 Tel. Nos.: 7799-4707; 7799-4942 Hippodromo St., Brgy. Carmona,
Tel. Nos.: 8282-1991; 8282-1994 Fax No.: 8850-8670 8659-3359; 8659-3360 Makati City
Fax No.: 8282-1994 Fax No.: 8659-3359 Tel. Nos.: 8403-8301; 8403-8302
AYALA AVE. – AMORSOLO Fax No.: 8403-8302
ALABANG HILLS G/F Teleperformance Bldg, BF RESORT VILLAGE
G/F RBC-MDC Corporate Center, Ayala Ave., Makati City BF Resort Drive cor. Gloria Diaz St., CENTURY CITY – KNIGHTSBRIDGE
Don Jesus Blvd., Alabang Hills Village, Tel. Nos.: 8541-7348; 8541-5958 BF Resort Village, Talon Dos, Unit 17 & 18 Knightsbridge Residences,
Muntinlupa City Fax No.: 8541-5958 Las Piñas City Century City, Kalayaan Ave. Makati City
Tel. Nos.: 8877-8567; 8877-8604 Tel. Nos.: 8873-4542; 8873-4541 Tel. Nos.: 8866-3937; 8866-3803
Fax No.: 8877-8604 AYALA – COLUMNS 8873-4540 Fax No.: 8866-3937
G/F The Columns Tower 3, Fax No.: 8873-4543
ALVARADO Ayala Avenue, Makati City COMMONWEALTH AVENUE
Alvarado St. Binondo, Manila Tel. Nos.: 7915-3672; 7915-3673 BGC – ICON PLAZA LGF Ever Gotesco Mall,
Tel. Nos.: 8562-3863; 8562-3866 7915-3674; 7915-3675 G/F Icon Plaza Bldg., Commonwealth Center
Fax No.: 8562-3866 Fax No.: 7915-3672 25th cor. 5th Sts. Bonifacio South, Commonwealth Avenue corner
Fort Bonifacio Global City, Taguig City Don Antonio Road, Quezon City
ANONAS AYALA MALLS – MANILA BAY Tel. Nos.: 8777-1943; 8800-1474 Tel. Nos.: 8932-0818; 8932-0820;
Anonas corner Marang Streets, Level 2 Ayala Malls Manila Bay, Fax No.: 8777-1943 3431-5000; 3431-5001
Brgy. Quirino, Project 2, Quezon City D. Macapagal Ave., Parañaque City Fax No.: 8932-0822
Tel. No.: 8277-9397 Tel. Nos.: 8352-7758; 8292-4576 BGC – ONE WORLD PLACE
Fax No.: 8277-9378 Fax No.: 8292-4576 G/F One World Place, 32nd Avenue, COMMONWEALTH AVE. EXT. –
Fort Bonifacio Global City, Taguig City CASA MILAN
ANTIPOLO CITY BACLARAN – F.B. HARRISON Tel. Nos.: 8869-6309; 8843-2448 ALX Center Building, Commonwealth
G/F BudgetLane Arcade, BAGPI Main Bldg., 2935 F.B. Harrison Fax No.: 8843-2448 Ave. Ext. North Fairview, Quezon City
No. 6, Provincial Road cor. Ortigas St., Pasay City Tel. Nos.: 8463-5714
Brgy. San Jose, Antipolo City, Rizal Tel. Nos.: 8838-5038; 8838-6187 BGC – W TOWER Fax No.: 8463-5714
Tel. Nos.: 8650-3277; 8650-2087 Fax No.: 8838-5038 G/F W Tower 39th St., North Bonifacio
8695-1509 Triangle, BGC, Taguig City,1634 CONGRESSIONAL AVENUE
Fax No.: 8650-2640 BALINTAWAK – BONIFACIO Tel. Nos.: 8552-3311; 8551-9072 G/F Unit C The Arete Square,
657 A. Bonifacio Avenue Fax No.: 8551-9072 Congressional Ave., Project 8,
ANTIPOLO CITY – TAKTAK Balintawak, Quezon City Quezon City
Sumulong Highway corner Taktak Road, Tel. Nos.: 8361-3449; 8361-7825 BGC – WORLD PLAZA Tel. Nos.: 8351-8648; 8351-8645
Brgy. Dela Paz, Antipolo City, Rizal 8362-3660; 8361-0450 G/F (Unit 5) World Plaza, L4B5 E-Square 8351-8646
Tel. Nos.: 8721-6320; 8721-6087 Fax No.: 8361-0199 Information Technology Park, Fax No.: 8454-7383
Fax No.: 8721-6316 Crescent Park West, 5th Avenue,
BALUT Bonifacio Global City, Taguig City CONGRESSIONAL AVE. EXTENSION
ANTIPOLO – SUMULONG HIGHWAY North Bay Shopping Center Honorio Tel. Nos.: 8541-3447; 8541-4220 – MIRA NILA
No. 219 Sumulong Highway, Lopez Boulevard, Balut, Tondo, Manila Fax No.: 8541-4220 CBC Building Congressional Ave. Ext.,
Brgy. Mambugan, Antipolo City, Rizal Tel. Nos.: 8253-9921; 8253-9929 Quezon City
Tel. Nos.: 8632-7573; 8655-8087 8253-9620; 8251-1182 BINANGONAN Tel. Nos.: 8932-2372; 8932-2370
Fax No.: 8632-7309 8251-1186 National Highway, Bo. Tagpos, Fax No.: 8932-2370
Fax No.: 8253-9917 Binangonan, Rizal
ARANETA AVE. Tel. Nos.: 8669-1530; 8669-1659 CONGRESSIONAL AVE. – PROJECT 8
Philippine Whithasco Bldg. BANAWE Fax No.: 8669-1530 159 Congressional Ave.,
420 Araneta Avenue, CBC Building, 680 Banawe Avenue, Brgy. Bahay Toro, Project 8, Quezon City
cor. Bayani St., Quezon City Sta. Mesa Hts. District I, Quezon City BLUMENTRITT Tel. Nos.: 8365-1737; 8365-1748
Tel. Nos.: 8731-2252; 8731-2261 Tel. Nos.: 8743-7486; 8743-7488 1777-1781 Cavite cor. Leonor Rivera St., Fax No.: 8365-1737
8732-4153; 8731-2243 8711-8694; 3416-7028 Blumentritt, Sta. Cruz, Manila
3410-3026 3416-7030 Tel. Nos.: 8742-0254; 8711-8589 CORINTHIAN HILLS
Fax No.: 3410-6753 Fax No.: 8743-7487 Fax No.: 8711-8541 G/F The Clubhouse, Corinthian Hills,
Temple Drive Brgy. Ugong Norte,
ARNAIZ AVE. BANAWE – CALAMBA BO. KAPITOLYO Quezon City
United Life Assurance Building, 119 Banawe St. corner Calamba St. G/F P&E Building, 12 United Tel. Nos.: 8637-3170; 8637-3180
A. Arnaiz Ave. (Pasay Road), Makati City Quezon City corner First Sts. Bo. Kapitolyo, Pasig City 8637-1915
Tel. Nos.: 8541-1506; 8541-1552 Tel. Nos.: 8732-1060; 8740-4864 Tel. Nos.: 8634-8370; 8634-8915 Fax No.: 8637-1905
Fax No.: 8541-1506 Fax No.: 8740-4864 8634-3697
Fax No.: 8634-7504

Branch Directory
CUBAO – ARANETA E. RODRIGUEZ – CORDILLERA EVANGELISTA GREENBELT 1

Level 2, Ali Mall, Araneta Center, No. 291 (G/F Units 285 & 287) Evangelista corner Gen. Estrella Sts., G/F Greenbelt 1, Legaspi Street near
Cubao, Quezon City E. Rodriguez Sr. Blvd., Bangkal, Makati City corner Paseo de Roxas, Makati City
Tel. Nos.: 8911-2369; 8911-2370 Brgy. Doña Josefa, Quezon City Tel. Nos.: 7759-5095; 7759-5096 Tel. Nos.: 8836-1387; 8836-1405
8438-3830; 8438-3832 Tel. Nos.: 8257-1512; 8256-5292 8856-0434; 8856-0433 8836-1406
8911-2397 Fax No.: 8257-1512 Fax No.: 7759-5096 Fax No.: 8836-1406
Fax No.: 8911-8416
E. RODRIGUEZ – HILLCREST FAIRVIEW GREENHILLS
CUBAO – AURORA No. 402 E. Rodriguez Sr. Blvd., G/F Angelenix House, Fairview Ave. G/F Gift Gate Bldg., Greenhills Shopping
911 Aurora Boulevard Extension corner Cubao, Quezon City corner Camaro St., Quezon City Center, San Juan, Metro Manila
Miami Street, Cubao, Quezon City Tel. Nos.: 8571-8927; 8571-8928 Tel. Nos.: 8937-5597; 8938-9636 Tel. Nos.: 8727-2798; 8726-9308
Tel. Nos.: 8912-5164; 8912-5157 8571-8929 8937-8086; 8461-3004 8727-9520; 8727-3068
8913-4675; 8913-4676 Fax No.: 8571-8927 Fax No.: 8937-8086 8721-0556; 8721-0543
8911-3524 Fax No.: 8724-5078
Fax No.: 8912-5167 E. RODRIGUEZ SR. BLVD. FAIRVIEW TERRACES
CBC Bldg., #286 E. Rodriguez Sr. Blvd., LGF Fairview Terraces, Quirino Highway GREENHILLS – ANNAPOLIS
CUBAO – P. TUAZON Brgy. Damayang Lagi, Quezon City corner Maligaya Drive, Brgy. Pasong Mercedes 1 Condominium, Annapolis St.,
No. 287 P. Tuazon Ave. Tel. Nos.: 3416-3166; 8722-5860 Putik, Novaliches, Quezon City Greenhills, San Juan, Metro Manila
near corner 18th Avenue, 8722-5893; Tel. Nos.: 8285-5956; 8285-6058 Tel. Nos.: 8470-3385; 8470-3380
Brgy. San Roque, Cubao, Quezon City Fax No.: 8726-2865 Fax No.: 8285-5956 Fax No.: 8470-3380
Tel. Nos.: 8911-5896; 8911-8416
8661-5057 EASTWOOD CITY FILINVEST CORPORATE CITY GREENHILLS – CONNECTICUT
Fax No.: 8911-8416 Unit D, Techno Plaza One, Eastwood City G/F Wilcon Depot, Alabang- Zapote road G/F Missouri Square Bldg., Missouri cor.
Cyberpark, E. Rodriguez Jr. Ave., (C-5) cor. Bridgeway Ave., Filinvest Corporate Connecticut St., Northeast Greenhills,
CULIAT – TANDANG SORA Bagumbayan, Quezon City City, Alabang, Muntinlupa San Juan, Metro Manila
G/F Royal Midway Plaza, Tel. Nos.: 8706-3491; 8706-3493 Tel. Nos.: 8775-0097; 8775-0126 Tel. Nos.: 8997-3452; 8997-3455
No. 419, Tandang Sora Ave. 8706-1979; 8706-3320 8842-1993; 8775-2198 Fax No.: 8997-3452
Brgy. Culiat, 1128 Quezon City 8706-3448 Fax No.: 8775-0322
Tel. Nos.: 8288-2575; 8288-5114 Fax No.: 8706-1979 GREENHILLS – ORTIGAS
Fax No.: 8288-2575 FILINVEST CORP. CITY – CBC-Building, 14 Ortigas Avenue
EASTWOOD CITY FELINA COMMERCENTER Greenhills, San Juan, Metro Manila
D. TUAZON CORPORATE PLAZA G/F Commercenter Alabang, Commerce Tel. Nos.: 8723-0530; 8723-0501
148 D. Tuazon St., Brgy. Lourdes, G/F Felina Corporate Plaza, Ave. cor. Filinvest Ave., Filinvest 8723-0502; 8723-0504
Sta. Mesa Heights, Quezon City #5 Eastwood Ave., Eastwood City, Corporate City, Alabang, Muntinlupa City 8726-1492
Tel. Nos.: 8731-2516; 8731-2508 Quezon City Tel. Nos.: 8805-0824; 8805-0827 Fax No.: 8723-0556
Fax No.: 8731-0592 Tel. Nos.: 8275-5541; 8275-5434 Fax No.: 8805-0146
Fax No.: 8275-5541 HEROES HILLS
DAMAR VILLAGE FILINVEST CORP. CITY – NORTHGATE Quezon Ave. corner J. Abad Santos
Clubhouse, Damar Village, Quezon City EDSA – KALOOKAN G/F Aeon Centre Building, Northgate Street, Heroes Hills, Quezon City
Tel. Nos.: 8442-3581; 8367-5517 G/F HGL Building, 554 EDSA, Cyberzone, Filinvest Corporate City, Tel. Nos.: 8351-4359; 8351-5121
Fax No.: 8367-5517 Kalookan City Alabang, Muntinlupa City 8332-7665;3412-5697
Tel. Nos.: 8442-4338; 8442-4339 Tel. Nos.: 8776-1985; 8551-5569 3411-3375
DASMARIÑAS VILLAGE 8442-4340 Fax No.: 8776-1985 Fax No.: 8351-5121
2283 Pasong Tamo Ext. Fax No.: 8442-4339
corner Lumbang Street, Makati City FIVE E-COM CENTER HOLY SPIRIT DRIVE
Tel. Nos.: 8894-2392; 8894-2393 EDSA – TIMOG AVE. G/F Five E-com Center, Harbor Drive, CBC Building, Lot 18 Block 6,
8813-2958 G/F Richwell Corporate Center, MOA Complex, Pasay City Holy Spirit Drive, Don Antonio Heights,
Fax No.: 8894-2355 102 Timog Ave., Brgy. Sacred Heart, Tel. Nos.: 8815-1883; 8815-1884 Brgy. Holy Spirit, Quezon City
Quezon City 8815-1887 Tel. Nos.: 8355-8665; 8277-7257
DILIMAN – MATALINO Tel. Nos.: 8441-5225, 8441-5226 Fax No.: 8815-1883 8287-5387
J&L Building, #23 Matalino Street, 8441-5227, 3412-9878 Fax No.: 8355-8665
Diliman, Quezon City Fax No.: 8441-5228 FORT BONIFACIO GLOBAL CITY
Tel. Nos.: 8936-8729; 8937-5004 G/F Marajo Tower, 26th Street cor. 4th ILAYA
Fax No.: 8937-5004 ELCANO Avenue, Fort Bonifacio Global City, #947 APL-YSL Bldg.,
G/F Elcano Tower, Elcano Street, Taguig City Ilaya, Tondo, Manila
DIVISORIA – STA. ELENA San Nicolas, Manila Tel. Nos.: 7799-9072; 7799-9074 Tel. Nos.: 8245-2416; 8245-2548
New Divisoria Condominium Center Tel. Nos.: 8244-6760; 8244-6765 8856-4416; 8856-4891 8245-2557
632 Sta. Elena St. Binondo, Manila 8244-6779 8856-5196 Fax No.: 8245-2545
Tel. Nos.: 8247-1435; 8247-1436 Fax No.: 8244-6760 Fax No.: 8856-4416
8247-1437 INTRAMUROS
Fax No.: 8247-1436 ERMITA GEN. LUIS – KATIPUNAN No. 409 A. Soriano Avenue,
Ground Floor A, Ma. Natividad Bldg., CBC Building, Gen. Luis St. corner Intramuros, Manila
DON ANTONIO #470 T. M. Kalaw cor. Cortada Sts., Katipunan SB Road, Brgy. Nagkaisang Tel. Nos.: 8528-4241; 8536-1044
G/F Royale Place, Don Antonio Ave., Ermita, Manila Nayon, Novaliches, Quezon City 8536-5971
Brgy. Old Balara, Quezon City Tel. Nos.: 8525-6477; 8536-7794 Tel. Nos.: 8285-5664; 8285-5665 Fax No.: 8536-1044
Tel. Nos.: 8932-9477; 8952-9678 8525-6544; 8523-0074 Fax No.: 8285-5665
8952-9354 8523-9862 J. ABAD SANTOS AVENUE
Fax No.: 8952-9344 Fax No.: 8525-8137 GIL PUYAT AVENUE 2159 J. Abad Santos Ave.,
Mitsu Bldg., No. 65 Sen. Gil Puyat Ave., cor. Batangas St., Tondo, Manila
DEL MONTE AVENUE ESCOLTA Brgy. Palanan, Makati City Tel. Nos.: 8255-1201; 8255-1202
No. 497 Del Monte Ave. Burke Building, Escolta corner Burke Tel. Nos.: 8844-0492; 8844-0494 8255-1204
Bgry. Manresa, Quezon City Streets, Binondo, Manila 8844-0688; 8844-0690 Fax No.: 8255-1203
Tel. Nos.: 3413-2826; 3413-2825 Tel. Nos.: 8363-1734; 8365-5408 Fax No.: 8844-0497
8961-8828; 8871-2745 Fax No.: 8363-1734 J. ABAD SANTOS AVE. – QUIRICADA
Fax No.: 8361-1101 GIL PUYAT – ELIZABETH PLACE J. Abad Santos Ave. near corner
ESPAÑA G/F Elizabeth Place, Gil Puyat Ave., Quiricada Street, Manila
DEL MONTE – MATUTUM España cor. Valencia Sts., Makati City Tel. Nos.: 8253-6803; 8253-6804
No. 202 Del Monte Avenue near corner Sampaloc, Manila Tel. Nos.: 8776-0502; 8776-3234 Fax No.: 8253-6803
Matutum St. Brgy St. Peter, Quezon City Tel. Nos.: 8741-9572; 8741-6209 Fax No.: 8766-0502
Tel. Nos.: 8731-2535; 8731-2571 8741-6208; 8741-9565 JUAN LUNA
8413-2118; 8416-7791 Fax No.: 8741-6207 GIL PUYAT AVE. – REPOSO G/F Aclem Building, 501 Juan Luna St.
Fax No.: 8416-7791 No. 331 Gil Puyat Ave., Makati City Binondo, Manila
EXAMINER Tel. Nos.: 8541-3739; 8541-3735 Tel. Nos.: 8247-3570; 8247-3795
E. RODRIGUEZ – ACROPOLIS No. 1525 Quezon Ave. cor. Examiner St., Fax No.: 8541-3735 8247-3786; 8480-0211
G/F Suncrest Building, West Triangle, Quezon City Fax No.: 8247-3795
E. Rodriguez Jr. Ave., Quezon City Tel. Nos.: 8376-3313; 8376-3314
Tel. Nos.: 8654-3607; 8654-3586 8376-3317; 8376-3318
Fax No.: 8654-3586 Fax No.: 8376-3314

KANLAON LAS PIÑAS MACAPAGAL AVE. – ASEANA MALANDAY
Kanlaon near corner N. Roxas Streets, CBC- Bldg., Alabang-Zapote Road SQUARE CBC Bldg. McArthur Highway,
Quezon City cor. Aries St., Pamplona Park Subd., Aseana Square (Caltex Area), Malanday, Valenzuela City
Tel. Nos.: 8367-0093; 8367-0095 Las Piñas City D. Macapagal Ave., Aseana City, Tel. Nos.: 3432-9787; 3445-3201
Fax No.: 8367-0093 Tel. Nos.: 8874-6204; 8874-6210 Parañaque City 3432-9785; 8292-6956
Fax No.: 8874-6414 Tel. Nos.: 8296-7246; 8296-7235 8292-6957
KALAYAAN AVE. Fax No.: 8296-7235 Fax No.: 8851-6143; 8292-6956
G/F PPS Building, Kalayaan Avenue, LAS PIÑAS – MANUELA
Quezon City Alabang-Zapote Road cor Philamlife Ave., MACAPAGAL AVE. – BIOPOLIS MANDALUYONG – BONI AVE.
Tel. Nos.: 8332-3858; 8332-3859 Pamplona Dos, Las Piñas City G/F The Biopolis, Central Business G/F VOS Bldg., Boni Avenue corner
8332-3860 Tel. Nos.: 8872-9801; 8872-9572 8872- Park 1-A 076/01, Diosdado Macapagal San Rafael Street, Mandaluyong City
Fax No.: 8332-3859 9533; 8871-0770 Avenue, Pasay City Tel. Nos.: 7746-6283; 7746-6285
Fax No.: 8871-0771 Tel. No.: 8838-9677 8534-2289
KALOOKAN Fax No.: 8838-9679 Fax No.: 8534-1968
CBC Bldg., 167 Rizal Avenue Extension LAS PIÑAS - MARCOS ALVAREZ AVE.
Grace Park, Kalookan City Metro Towne Center, 2020 Marcos MACAPAGAL AVE. – MANDALUYONG – BONI SAN
Tel. Nos.: 8364-0515; 8364-0535 Alvarez Ave., Talon V, Moonwalk, DOUBLEDRAGON ROQUE
8364-0717; 8364-0731 Las Piñas City DD Meridian Park Plaza, #768 Bonifacio Ave. cor. San Roque St.
8364-0494; 8364-9948 Tel. Nos.: 8838-9865; 838-9724 Macapagal Ave. cor. EDSA Ext., Brgy. Barangka Ilaya, Mandaluyong City
8366-9457 Fax No.: 838-9786 Pasay City Tel. Nos.: 8571-3861; 8571-3867
Fax No.: 8364-9864 Tel. Nos.: 838-3805; 838-3804 Fax No.: 8571-3867
LAS PIÑAS – NAGA ROAD Fax No.: 838-3804
KALOOKAN - 8th AVE. Lot 3, Naga Road, Pulanglupa 2, MANDALUYONG – D. GUEVARA
No. 279 Rizal Avenue corner 8th Ave., Las Piñas City MAGALLANES VILLAGE G/F 19 Libertad Plaza,
Grace Park, Kalookan City Tel. No.: 8541-1671 G/F DHI Bldg., No. 2 Lapu-Lapu Ave. Domingo Guevara St.,
Tel. Nos.: 8287-0001; 8287-0262 Fax No.: 8541-1674 corner EDSA, Magallanes Village, Mandaluyong City
Fax No.: 8287-0262 Makati City Tel. Nos.: 8534-5529; 8477-6382
LAVEZARES Tel. Nos.: 7757-0272; 7757-0240 Fax No.: 8534-5528
KALOOKAN – 10th AVE. No. 412 Lavezares Street, 8852-1290; 8852-1245
No. 275 10th Ave. corner 3rd Street, Grace San Nicolas, Manila Fax No.: 8852-1245 MANDALUYONG – PIONEER
Park, Kalookan City Tel. Nos.: 8521-6978; 521-7132 UG-05 Globe Telecom Plaza Tower I
Tel. Nos.: 8287-5484; 8287-5489 521-7128 MAKATI AVENUE Pioneer Street, Mandaluyong City
Fax No.: 8287-5489 Fax No.: 8521-7128 G/F CBC Building, Makati Ave. Tel. Nos.: 7746-6949; 7746-6948
cor. Hercules St., Makati City 8635-4198; 8632-1399
KALOOKAN – CAMARIN LEGASPI VILLAGE – AMORSOLO Tel. Nos.: 8890-6971; 8890-6972 Fax No.: 7746-6948
L8B4 La Forteza Subd., Brgy. 175 G/F CAP Bldg., Herrera cor. Amorsolo 8890-6973; 8890-6974
Camarin, Kalookan City Sts., Legaspi Village, Makati City Fax No.: 8890-6975 MANDALUYONG – THE PODIUM
Tel. Nos.: 8442-6830; 8442-7541 Tel. Nos.: 8832-6871; 8833-5668 3/F The Podium, ADB Avenue,
8442-6825 Fax No.: 8833-5668 MAKATI – COMEMBO Ortigas Center, Mandaluyong City
Fax No.: 8442-6825 No. 46 JP Rizal Ext., Tel. Nos.: 8291-1253; 8280-0220
LEGASPI VILLAGE – AIM Brgy. Comembo, Makati City Fax No.: 8291-1253
KALOOKAN – MONUMENTO G/F Cacho-Gonzales Building, Tel. Nos.: 8802-2616; 8802-2614
779 Mc Arthur Highway, Kalookan City 101 Aguirre cor. Trasierra Streets, 8802-2613 MANILA – MACEDA
Tel. Nos.: 8364-2571; 8361-3270 Legaspi Village, Makati City Fax No.: 8802-2613 Daguman Bldg., Maceda St.,
8921-3043 Tel. Nos.: 8818-0734; 8818-9649 Sampaloc Manila
Fax No.: 8361-3270 8894-5882; 8894-5883 MAKATI – JP RIZAL Tel. Nos.: 8521-6644; 8521-6643
8894-5884; 8894-5885 JP Rizal corner Honradez Streets, Fax No.: 8521-6644
KAMIAS Fax No.: 8818-0240 Makati City
G/F CRM Building II, 116 Kamias Road Tel. Nos.: 8815-6036; 8815-6037 MARIKINA – STA. ELENA
corner Kasing-Kasing Street, LEGASPI VILLAGE – C. PALANCA 8815-6038 250 J.P. Rizal Street,
Quezon City G/F, JCS Building, 119 Dela Rosa Fax No.: 8815-6038 Sta. Elena, Marikina City
Tel. Nos.: 8920-7367; 8920-8770 cor. C. Palanca Sts., Legaspi Village, Tel. Nos.: 8646-4281; 8646-4277
Fax No.: 8920-5723 Makati City MAKATI – KALAYAAN AVE. 8646-4279
Tel. Nos.: 8894-5915/18 Kalayaan Avenue, Makati City Fax No.: 8646-1807
KAMUNING 8810-1464/8536-4684 Tel. Nos.: 8838-7253; 8838-7252
#47 SKY47 Bldg., Kamuning Road, Fax No.: 8894-5868 Fax No.: 8838-7253 MARIKINA – FAIRLANE
Quezon City G/F E & L Patricio Building,
Tel. Nos.: 8287-3369; 8287-3368 LEGASPI VILLAGE – ESTEBAN MAKATI – YAKAL No. 809 J.P. Rizal Ave.,
Fax No.: 8287-3369 G/F PPI Bldg., No. 109 Esteban St., 173 Yakal St. near corner Ayala Ave. Ext., Concepcion Uno, Marikina City
Legaspi Village, Makati City Makati City Tel. Nos.: 8997-0684; 8997-0897
KARUHATAN Tel. Nos.: 8800-6147; 8805-4820 Tel. Nos.: 8373-6355; 8367-0086 8998-1817; 7239-2143
No. 253-B McArthur Highway Fax No.: 8805-4820 Fax No.: 8373-6355 Fax No.: 7239-2143
cor. Bizotte Street, Karuhatan,
Valenzuela City LEGASPI VILLAGE – PEREA MALABON – CONCEPCION MARIKINA – GIL FERNANDO
Tel. Nos.: 8291-0431; 8291-0175 G/F Greenbelt Mansion, 106 Perea St., Gen. Luna corner Paez Streets, Block 9, Lot 14 Gil Fernando Ave.,
3440-0033; 8291-0073 Legaspi Village, Makati City Concepcion, Malabon Marikina City
Fax No.: 8291-0175 Tel. Nos.: 8893-2273/2272/2827 Tel. Nos.: 8281-0102; 8281-0103 Tel. Nos.: 8646-0780; 7358-2138
Fax No.: 8893-2272 281-0104; 8281-0105 Fax No.: 8646-8032
KATIPUNAN AVE. – ST. IGNATIUS Fax No.: 8281-0106
CBC Building, No. 121 Katipunan Ave., LEGASPI VILLAGE – SALCEDO MARIKINA – SSS VILLAGE
Brgy. St. Ignatius, Quezon City G/F Fedman Suites, 199 Salcedo Street MALABON – GOV. PASCUAL Lilac St., Rancho Estate IV,
Tel. Nos.: 8913-5532; 8912-5003 Legaspi Village, Makati City CBC Building, Gov. Pascual Avenue, Concepcion Dos, Marikina City
8913-3226 Tel. Nos.: 8893-7680; 8893-2618 Malabon City Tel. Nos.: 8948-5135; 8941-7709
Fax No.: 8913-5532 7759-2462; 8893-1503 Tel. Nos.: 8352-1816; 8352-1817 8997-3343
8816-0905 8961-2147 Fax No.: 8942-0048
KATIPUNAN AVE. – LOYOLA HEIGHTS Fax No.: 8893-3746 Fax No.: 8352-1822
Elizabeth Hall, Katipunan Ave., MASANGKAY
Loyola Heights, Quezon City M. DELA FUENTE – TRABAJO MALABON – POTRERO 959-961 G. Masangkay Street,
Tel. No.: 8287-9218 MARKET CBC Bldg., McArthur Highway, Binondo, Manila
Fax No.: 8287-9221 #771 M. dela Fuente St., Potrero, Malabon Tel. Nos.: 8244-1828; 8244-1835
(Trabajo Market area), Sampaloc, Manila Tel. Nos.: 3448-0524; 3448-0525 8244-1848; 8244-1856
LAGRO Tel. Nos.: 8522-2083; 8522-2028 8361-8671; 8361-7056 8244-1859
CBC Building, Lot 32 Blk 125, Quirino Fax No.: 8522-2083 Fax No.: 8361-7056 Fax No.: 8244-1833
Highway, Greater Lagro, Quezon City
Tel. Nos.: 8372-8226; 8372-8223
Fax No.: 8372-8226

Branch Directory
MASANGKAY – MAYHALIGUE NOVALICHES – TALIPAPA PACO PASIG – A. MABINI

formerly Masangkay – Luzon Branch 528 Copengco Bldg., Quirino Highway, Gen. Luna corner Escoda Street, A. Mabini Street, Brgy. Kapasigan,
No. 1417-1419 G. Masangkay St., Talipapa, Novaliches, Quezon City Paco, Manila Pasig City
Sta. Cruz, Manila Tel. Nos.: 8936-2202; 8936-3311 Tel. Nos.: 8526-6492; 8536-6630 Tel. Nos.: 8534-5178; 8634-4028
Tel. Nos.: 8255-0739; 8254-9974 8936-7765; 8936-5508 8536-6631; 8536-6672 Fax No.: 8634-4028
8254-9335 Fax No.: 8936-2202 Fax No.: 8536-6657
Fax No.: 8254-9974 PASIG – ESTANCIA
NOVALICHES – ZABARTE PACO – ANGEL LINAO LGF Estancia (Expansion) Capitol
MAYON G/F C.I. Bldg 1151 Quirino Highway Unit 1636 & 1638 Angel Linao St. Commons, Meralco Ave., Pasig City
480 Mayon St., Maharlika corner Zabarte Road, Brgy. Kaligayahan, Paco, Manila Tel. Nos.: 8255-8032
Sta. Mesa Heights, Quezon City Novaliches, Quezon City Tel. Nos.: 8242-2849; 8242-3416 Fax No.: 8293-6214
Tel. Nos.: 8731-9054; 8731-2766 Tel. Nos.: 8461-7691; 8461-7694 Fax No.: 8242-3416
8741-2409 8461-7698 PASIG – C. RAYMUNDO
Fax No.: 8731-2766 Fax No.: 8461-7691 PACO – OTIS G/F MicMar Apartments No. 6353 C.
G/F Union Motor Corp Bldg., Raymundo Avenue, Brgy. Rosario,
MAYON – ROTONDA NUEVA 1760 Dra. Paz Guazon St., Paco, Manila Pasig City
G/F One Mayon Place, #68 Mayon Unit Nos. 557 & 559 G/F Ayson Building, Tel. Nos.: 8561-6902; 8561-6981 Tel. Nos.: 8642-3652; 8628-3912
Street, Brgy. Sta. Teresita, Quezon City Yuchengco St., 8564-2247 8628-3922; 7576-4134
Tel. Nos.: 8373-5534; 8281-8603 Binondo, Manila Fax No.: 8561-6981 Fax No.: 7576- 4134
Fax No.: 8373-5534 Tel. Nos.: 8247-6374; 8247-6396
8247-0493 PADRE FAURA PASIG – CARUNCHO
MEDICAL CENTER PARAÑAQUE Fax No.: 8247-6396 G/F Regal Shopping Center, A. Mabini No. 7 Caruncho Ave., Pasig City
G/F Medical Center Parañaque, cor. P. Faura Sts., Ermita, Manila Tel. Nos.: 8639-5482; 8559-6183
Dr. Arcadio Santos Ave., San Antonio, ONGPIN Tel. Nos.: 8526-0586; 8527-3202 Fax No.:
Parañaque City G/F Se Jo Tong Building, 8527-7865
Fax No.: 8628-1610; 8635-0900 808 Ongpin Street, Sta. Cruz, Manila Fax No.: 8527-3202 PASIG – DELA PAZ
Tel. Nos.: 8733-8962; 8733-8963 Amang Rodriguez Avenue,
MINDANAO AVE. 8733-8964; 8733-8965 PADRE RADA Brgy. Dela Paz, Pasig City
30 Mindanao Avenue, Brgy. Tandang 8733-8966; 8735-5362 G/F Gosiupo Bldg., Padre Rada corner Tel. Nos.: 8637-7876
Sora, Quezon City Fax No.: 8733-8964 Elcano Sts., Tondo, Manila Fax No.: 8637-7874
Tel. Nos.: 8277-4768; 8277-4782 Tel. Nos.: 8277-1106; 8371-4300
Fax No.: 8277-4768 OROQUIETA Fax No.: 8277-1106 PASIG – MERCEDES
1225-1227, Oroquieta St., Commercial Motors Corp. Compound
MUNTINLUPA – PUTATAN Sta. Cruz, Manila PARAÑAQUE – BACLARAN Mercedes Ave., Pasig City
G/F Teknikos Bldg., National Highway, Tel. Nos.: 8521-6648; 8521-6650 Quirino Avenue cor. Aragon St., Tel. Nos.: 8628-0201; 8628-0209
Brgy. Putatan, Muntinlupa City Fax No.: 8521-6650 Baclaran, Parañaque City 8628-0197
Tel. Nos.: 8511-0980; 8808-1817 Tel. Nos.: 8581-1057 Fax No.: 8628-0211
Fax No.: 8808-1819 ORTIGAS – ADB AVE. Fax No.: 8663-0425
LGF City & Land Mega Plaza PASIG – ROSARIO
N. DOMINGO ADB Ave. cor. Garnet Rd. PARAÑAQUE – MOONWALK 1864 Ortigas Ave. Ext.,
G/F The Main Place, No. 1 Pinaglabanan Ortigas Ctr., Pasig City Milky Way St. cor. Armstrong Avenue, Rosario, Pasig City
cor. N. Domingo Sts., San Juan, Tel. Nos.: 8687-2457; 8687-2458 Moonwalk, Parañaque City Tel. Nos.: 8254-4859; 8244-8839
Metro Manila 8687-2226; 8687-3263 Tel. Nos.: 8846-9729; 8846-9771 Fax No.: 8254-4859
Tel. Nos.: 8470-2915; 8470-2916 Fax No.: 8687-2457 Fax No.: 8846-9739
8470-2917 PASIG – SAN JOAQUIN
Fax No.: 8551-2267 ORTIGAS AVE. EXT. – RIVERSIDE PARAÑAQUE – NAIA No. 43 M. Concepcion Ave.,
Unit 2-3 Riverside Arcade Ninoy Aquino Ave., San Joaquin, Pasig City
NAVOTAS Ortigas Avenue Extension corner Brgy. San Dionisio, Parañaque City Tel. Nos.: 8997-2815; 8997-2816
No. 500 M. Naval St. near corner Lacson Riverside Drive, Brgy. Sta. Lucia, Tel. Nos.: 8541-8857; 8541-8858 8997-2817
St., Brgy. North Bay Boulevard North Pasig City Fax No.: 8541-8857 Fax No.: 8997-2815
(NBBN), Navotas City Tel. Nos.: 7748-1808; 7748-4426
Tel. Nos.: 8283-0752; 8283-0753 8655-7403; 8655-8350 PARAÑAQUE – SAN ANTONIO PASIG – SANTOLAN
8283-0754 Fax No.: 8655-8350 VALLEY G/F Felimarc Business Center, Amang
Fax No.: 8283-0754 San Antonio Shopping Center, Rodriguez Avenue, Santolan, Pasig City
ORTIGAS CENTER San Antonio Road, Brgy. San Antonio Tel. Nos.: 8646-0635; 8682-3474
NOVALICHES – BAGBAG Unit 105 Parc Chateau Condominium Valley 1, Parañaque City 8682-3514; 8681-4575
No. 658 Quirino Highway, Garnet Street, Ortigas Center, Tel. Nos.: 8816-2448; 8816-2451 Fax No.: 8646-0514
Bagbag, Novaliches, Quezon City Pasig City Fax No.: 8816-2451
Tel. Nos.: 8283-3885; 8275-3244 Tel. Nos.: 8633-7960; 8633-7970 PASIG – SM SUPERCENTER
Fax No.: 8283-3885 8633-7953; 8633-7954 PARAÑAQUE – SUCAT G/F SM Supercenter Pasig, Frontera
8634-0178 No. 8260 (between AMA Computer Drive, C-5, Ortigas, Pasig City
NOVALICHES – GULOD Fax No.: 8633-7971 School and PLDT), Dr. A. Santos Avenue, Tel. Nos.: 8706-3207; 8706-3208
858 Krystle Building, Quirino Highway, Brgy. San Isidro, Parañaque City 8706-3209
Gulod, Novaliches, Quezon City ORTIGAS COMPLEX Tel. Nos.: 8826-4072; 8820-8952 Fax No.: 8706-3208
Tel. Nos.: 8937-1133; 8937-1136 G/F Padilla Building, F. Ortigas Jr. Road 8820-2044; 8825-2501
Fax No.: 8936-1037 (formerly Emerald Avenue), Fax No.: 8825-9517 PASIG – VALLE VERDE
Ortigas Center, Pasig City G/F Reliance IT Center,
NOVALICHES – STA. MONICA Tel. Nos.: 8634-3469; 8631-2772 PASAY – LIBERTAD E. Rodriguez Jr. Ave., Ugong, Pasig City
G/F E & V Bldg. Quirino Highway corner Fax No.: 8633-9039 CBC-Building, 184 Libertad Street, Tel. Nos.: 8706-9242; 8706-9243
Dumalay St., Novaliches, Quezon City Antonio Arnaiz Ave., Pasay City Fax No.: 8706-9243
Tel. Nos.: 8288-3683; 8288-2302 ORTIGAS – JADE DRIVE Tel. Nos.: 8551-7159; 8834-8978
Fax No.: 8288-3683 Unit G-03, Antel Global Corporate 8831-0306; 8831-0498 PASO DE BLAS
Center, Jade Drive, Ortigas Center, Fax No.: 8551-7160 (GMP Building) #63 Paso de Blas,
NOVALICHES – SANGANDAAN Pasig City Valenzuela City
CBC Building, Quirino Highway Tel. Nos.: 8638-4489; 8638-4490 PASAY – ROXAS BLVD. Tel. Nos.: 8292-3215/3213/3216
corner Tandang, Sora Ave., 8638-4510; 8638-4540 GF Unit G-01 Antel Seaview Towers Fax No.: 7149-2354
Brgy. Sangandaan, Novaliches Fax No.: 8638-4540 2626 Roxas Blvd., Pasay City
Quezon City Tel. Nos.: 8551-9067; 8551-9068 PASONG TAMO BAGTIKAN
Tel. Nos.: 8935-3049; 8935-3491 ORTIGAS – TEKTITE 8551-9069 G/F Trans-Phil House 1177 Chino Roces
3455-5661 Unit EC-06B PSE Center (Tektite) Ortigas Fax No.: 8551-1768 Ave. cor. Bagtikan St., Makati City
Fax No.: 8935-2130 Center, Pasig City Tel. Nos.: 8403-4820; 8403-4821
Tel. Nos.: 8637-0231; 8637-0238 8403-4822; 7738-7591
Fax No.: 8637-0231 Fax No.: 8403-4821

PASONG TAMO – CITYLAND ROCKWELL – ORTIGAS SHAW – GOMEZVILLE SM MALL OF ASIA
Units UG30-UG32 Cityland G/F Tower 1 Rockwell Business Center, Gomezville Street cor. Shaw Blvd., 3/F Main Mall Building, SM Mall of Asia,
Pasong Tamo Tower Ortigas Avenue, Pasig City Mandaluyong City Bay Blvd., Pasay City
2210 Pasong Tamo St., Makati City Tel. Nos.: 8470-4704; 8470-2984 Tel. Nos.: 8363-3522; 8292-8918 Tel. Nos.: 8556-0103; 7625-2246
Tel. Nos.: 8817-9337; 8817-9347 Fax No.: 8470-2984 8292-1182 8556-0100
8817-9351; 8817-9360 Fax No.: 8363-3522 Fax No.: 8556-0099
8817-9382 ROOSEVELT AVE.
Fax No.: 8817-9351 CBC Bldg., #293 Roosevelt Ave., SHAW – HAIG SM MEGAMALL
San Francisco Del Monte, Quezon City G/F First of Shaw Bldg., Shaw Blvd. LGF Building A, SM Megamall,
PASONG TAMO – LA FUERZA Tel. Nos.: 8371-5133; 8371-5134 corner Haig St., Mandaluyong City E. delos Santos Avenue corner
La Fuerza Plaza 1, Chino Roces Ave., 8371-5135; 8371-2766 Tel. Nos.: 8534-1073; 8273-4585 J. Vargas St., Mandaluyong City
Makati City 3410-2160; 3410-1957 8273-4633 Tel. Nos.: 8633-1611; 8633-1612
Tel. Nos.: 8541-8850; 8541-8851 Fax No.: 8371-2765 Fax No.: 8273-4633 8633-1789; 8638-7213
Fax No.: 8541-8851 8638-7214; 8638-72115
ROOSEVELT AVE. – FRISCO SHAW – PASIG Fax No.: 8633-4971; 8633-1788
PATEROS G/F Norita Bldg., #51 H. Francisco St. G/F RCC Center,
G/F Adela Building, M. Almeda St., corner Roosevelt Ave. No. 104 Shaw Boulevard, Pasig City SM CITY MASINAG
Brgy. San Roque, Pateros Brgy. Paraiso, Quezon City Tel. Nos.: 8634-5018; 8634-5019 SM City Masinag, Marcos Highway,
Tel. Nos.: 8531-6929; 8531-6810 Tel. Nos.: 8709-7552; 8921-0866 8634-3343; 8634-3344 Brgy. Mayamot, Antipolo City
8654-3079 Fax No.: 8921-0866 8634-3340; 7747-7812 Tel. Nos.: 8655-8764; 8655-8771
Fax No.: 8654-3079 Fax No.: 8634-3344 Fax No.: 8655-9124
SALCEDO VILLAGE – L.P. LEVISTE
PHILAM Unit 1-B G/F The Athenaeum San SHAW – SUMMIT ONE SM CITY NORTH EDSA
#8 East Lawin Drive, Agustin – LP Leviste St., Unit 102 Summit One Office Tower Cyberzone Carpark Bldg.,
Philam Homes, QC Salcedo Village, Makati City 530 Shaw Boulevard Mandaluyong City SM City North Avenue
Tel. Nos.: 8927-9841; 8924-2872 Tel. Nos.: 8869-3128; 8869-3132 Tel. Nos.: 8531-3970; 8531-5736 corner EDSA, Quezon City
8929-5734; 8929-3115 8869-3134 8531-4058; 8531-1304 Tel. Nos.: 3456-6633; 3454-8108
Fax No.: 8929-3115 Fax No.: 8869-3132 8533-8723; 8533-4948 3454-8121; 8925-4273
Fax No.: 8531-9469 Fax No.: 8927-2234
PROJECT 8 – SHORTHORN SALCEDO VILLAGE – TORDESILLAS
Shorthorn Street, Project 8, Quezon City G/F Prince Tower Condominium SM AURA PREMIER SM NORTH TOWERS
Tel. Nos.: 8373-3363; 8373-3369 14 Tordesillas St., Salcedo Village, L/G SM Aura Premier, McKinley SM City North EDSA North Towers,
Fax No.: 8373-3363 Makati City Parkway, Fort Bonifacio Global City, SM City North EDSA Complex,
Tel. Nos.: 8813-4901; 8813-4932 Taguig City Quezon City
PUREZA 8813-4933; 8813-4944 Tel. Nos.: 8808-9727; 8808-9701 Tel. Nos.: 8241-2172; 8251-5122
G/F Solicarel Building, 8813-4952 Fax No.: 8808-9701 Fax No.: 8241-2172
Ramon Magsaysay Blvd. near corner Fax No.: 8813-4933
Pureza St., Sta. Mesa, Manila SM CITY BICUTAN EDSA – PHILAM
Tel. Nos.: 8241-3313; 8241-3314 SALCEDO VILLAGE – VALERO LGF, Bldg. B, SM City Bicutan 917 EDSA, Brgy. Philam, Quezon City
Fax No.: 8241-3314 G/F Valero Tower, 122 Valero Street Doña Soledad Ave. Tel. Nos.: 8374-2345; 8374-2362
Salcedo Village, Makati City cor. West Service Rd., Parañaque City 8287-3106
QUEZON AVE. Tel. Nos.: 8892-7768; 8892-7769 Tel. Nos.: 8821-0600; 8821-0700 Fax No.: 8287-3106
No. 18 GD Bldg., Quezon Ave. 8812-9207; 8893-8188 8777-9347
cor. D. Tuazon St., Quezon City 8893-8196 Fax No.: 8821-0500 SM SOUTHMALL
Tel. Nos.: 8712-3676; 8712-0424 Fax No.: 8892-7769 UGF SM Southmall Alabang-Zapote
8740-7779; 8740-7780 SM CITY BF PARAÑAQUE Road, Talon 1, Almanza Las Piñas City
8712-1105; 3416-8891 SALES – RAON G/F SM City BF Parañaque, Tel. Nos.: 8806-6116; 8806-6119
Fax No.: 8712-3006 611 Sales St., Quiapo, Manila Dr. A. Santos Ave. corner President’s 8806-3536; 8806-3547
Tel. Nos.: 8734-5806; 8734-7427 Avenue, Parañaque City Fax No.: 8806-3548
QUEZON AVE. – SCT. CHUATOCO 8734-6959 Tel. Nos.: 8553-3067; 8825-2990
Estuar Building, No.880 Quezon Ave., Fax No.: 8734-5806 8825-3095; 8825-3201 SOLEMARE
Brgy. Paligsahan, Quezon City Fax No.: 8825-1062 G-11 Solemare Parksuites,
Tel. Nos.: 8351-0563; 8351-0567 SAN ANTONIO VILLAGE – 5A Bradco Avenue, Aseana Business
Fax No.: 8351-0563 KAMAGONG SM CITY GRAND CENTRAL Park, Parañaque City
Kamagong near corner St., Paul Streets, LGF SM City Grand Central, Tel. Nos.: 8366-3237; 8366-3219
QUIAPO San Antonio Village, Makati City Rizal Ave Ext. corner Bustamante 8366-3199
216-220 Villalobos St., Tel. Nos.: 8777-4950; 8777-4951 Street, Kalookan City Fax No.: 8366-3199
Quiapo, Manila Fax No.: 8777-4951
Tel. Nos.: 8733-2052; 8733-2059 SM CITY MARIKINA SOLER – 168
8733-2061; 8733-6282 SAN ANTONIO VILLAGE – P. OCAMPO G/F SM City Marikina, Marcos Highway, G/F R & S Bldg, Soler St., Manila
8733-6286 1405 P. Ocampo Sr. Street cor. Dungon Brgy. Calumpang, Marikina City Tel. Nos.: 8242-104; 8242-1674
Fax Nos.: 8733-6282 St., San Antonio Village, Makati City Tel. Nos.: 8477-1845; 8477-1846 8242-1685
8733-2061 (temporary fax) Tel. Nos.: 8869-5648; 8869-5649 8477-1847; 7799-6105 Fax No.: 8242-1041
Fax No.: 8869-5651 Fax No.: 8477-1847
REGALADO AVE. SOLER – ARRANQUE
CBC Building, Regalado Ave., SAN JUAN SM CITY SAN LAZARO #715 T. Alonzo St. near corner CM Recto
North Fairview, Quezon City 17 (new) F. Blumentritt St., UGF (Units 164-166) SM City San Avenue, Sta. Cruz, Manila
Tel. Nos.: 8921-5678; 8921-5359 San Juan, Metro Manila Lazaro, Felix Huertas Street corner A.H. Tel. Nos.: 8983-9496; 8983-9497
Fax No.: 8921-5359 Tel. Nos.: 8724-8263; 8726-4826 Lacson Extension, Sta. Cruz, Manila Fax No.: 8983-9497
8723-7333; 7744-5616 Tel. Nos.: 8742-1572; 8742-2330
REGALADO AVE. – WEST FAIRVIEW 7744-5617; 7744-5618 8493-7115 SOUTH TRIANGLE
CBC Building, Regalado Ave. corner Fax No.: 8723-4998 Fax No.: 8732-7935 G/F Sunshine Blvd. Plaza,
Bulova St., Quezon City Quezon Ave. cor. Sct. Santiago and
Tel. Nos.: 8936-2554; 8936-2556 SAN JUAN – J. ABAD SANTOS SM CITY TAYTAY Panay Ave., Bgry. South Triangle,
Fax No.: 8936-2554 Unit 3 Citiplace Bldg., 8001 Jose Abad Unit 147 Bldg. B, SM City Taytay, Manila Quezon City
Santos Street, Little Baguio, East Road, Brgy. Dolores, Taytay, Rizal Tel. Nos.: 8277-7947; 8277-7948
RIZAL- ANGONO San Juan, Metro Manila Tel. Nos.: 8286-5844; 8286-5979 Fax No.: 8277-7948
Lot 3 Blk. 4 M.L Quezon Ave. Tel. Nos.: 8470-8292; 8656-8329 8661-2276; 8661-2277
Richmond Subd., Angono, Rizal Fax No.: 8656-8329 Fax No.: 8661-2235 STA. MESA
Tel. Nos.: 8633-5198; 8633-7513 1-B G. Araneta Avenue,
Fax No.: 8633-7513 SCT. BORROMEO SM CITY FAIRVIEW Brgy.Doña Imelda, Quezon City
G/F The Forum Building, 71- A LGF, SM City Fairview Tel. Nos.: 8516-0764; 8516-0765
RIZAL – SAN MATEO Sct. Borromeo St., Diliman, Quezon City Quirino Avenue corner Regalado Avenue 8516-0766
#63 Gen. Luna corner Simon St., Tel. Nos.: 8426-1431; 8426-1340 Fairview, Quezon City Fax No.: 8516-0764
Banaba, San Mateo, Rizal Fax No.: 8426-1431 Tel. Nos.: 3417-2878; 8939-3105
Tel. Nos.: 8650-2230 Fax No.: 3418-8228
Fax No.: 8650-1837

Branch Directory
STO. CRISTO TOMAS MORATO EXTENSION BALIWAG

622-39 Sto. Cristo St. Binondo, Manila QY Bldg. Tomas Morato Ave., LUZON Km. 51, Doña Remedios Trinidad
Tel. Nos.: 8242-4673; 8242-5361 Quezon City (DRT) Highway, Baliwag, Bulacan
8241-1243; 8242-5449 Tel. Nos.: 8373-4960; 8373-4961 ALBAY Area Code: (044)
8242-3670; 8242-4668 Fax No.: 8373-4961 Rizal St. cor. Gov. Reynold Street, Tel. Nos.: 766-1066; 766-5257
Fax No.: 8242-4672; 8242-4761 Old Albay District, Legazpi City 673-5338
TUTUBAN PRIME BLOCK Area Code: 052 Fax No.: 766-5257
STO. CRISTO – C.M. RECTO Rivera Shophouse, Podium Area, Tel. Nos.: 742-0893; 742-0894
858 Sto. Cristo Street, Manila Tutuban Center Prime Block, Fax No.: 742-0894 BATAAN – DINALUPIHAN
Tel. Nos.: 8562-9651; 8562-9652 C.M. Recto Ave. corner Rivera Street, GNI Building, San Ramon Highway
8254-7227 Manila ANGELES CITY corner Doña Rosa Street and Mabini
Fax No.: 8562-9652 Tel. Nos.: 8255-1414; 8255-1415 CBC-Building, 949 Henson St., Ext., Dinalupihan, Bataan
8255-5441 Angeles City Area Code: (047)
STO. DOMINGO AVE. Fax No.: 8255-5441 Area Code: 045 Tel. Nos.: 636-1451; 636-1452
Sto. Domingo Ave., Quezon City Tel. Nos.: 887-1549; 887-1550 Fax No.: 636-1451
Tel. Nos.: 8251-6005; 8251-5852 UP TECHNO HUB 888-6773; 625-8660
Fax No.: 8251-5852 UP AyalaLand Techno Hub, 625-8661 BATANGAS CITY
Commonwealth Ave., Quezon City Fax Nos.: 887-1550; 625-8661 P. Burgos Street, Batangas City
T. ALONZO Tel. Nos.: 8441-1331; 8441-1332; Area Code: (043)
Abeleda Business Center 8441-1334; 7738-4800 ANGELES CITY – BALIBAGO Tel. Nos.: 723-0953
908 T. Alonzo corner Espeleta Streets, Fax No.: 8441-1332 Diamond Square, Service Road 8520-6118 (Manila Line)
Sta. Cruz, Manila McArthur Highway cor. Charlotte St. Fax No.: 402-9157;
Tel. Nos.: 8733-9581; 8733-9582 UP VILLAGE – MAGINHAWA Balibago, Angeles City, Pampanga 8520-6118 (Manila Line)
8734-3231; 8734-3232 LTR Bldg, No. 46 Maginhawa St., Area Code: (045)
8734-3233 UP Village, Quezon City Tel. Nos.: 892-5136; 892-5144 BATANGAS – BALAYAN
Fax No.: 8733-9582 Tel. Nos.: 8373-3349; 8373-3354 Fax No.: 892-5136 CBC Building, Barrio Ermita,
Fax No.: 8373-3349 Balayan, Batangas
TAFT AVE. – NAKPIL ANGELES CITY – MARQUEE MALL Area Code: (043)
G Square Taft Ave. corner Nakpil St., V. LUNA G/F Marquee Mall, Tel. Nos.: 741-5028; 741-5180
Malate, Manila G/F AGGCT Bldg. No. 32 V. Luna Angeles City, Pampanga Fax No.: 741-5028
Tel. Nos.: 8681-2830; 8631-9745 cor. Matapat Sts., Brgy. Pinyahan, Area Code: (045)
Fax No.: 8681-2830 Quezon City Tel. Nos.: 436-4013; 304-0850 BATANGAS – BAUAN
Tel. Nos.: 8772-8992; 8772-8564 889-0975 62 Kapitan Ponso St.,
TAFT AVE. – QUIRINO 8785-6431 Fax No.: 304-0850 Bauan, Batangas
2178 Taft Avenue near corner Quirino Fax No.: 8772-8564 Area Code: (043)
Avenue, Malate, Manila ANGELES – MCARTHUR HIGHWAY Tel. Nos.: 702-4481; 702-5383
Tel. Nos.: 8521-7825; 8527-3285 VALENZUELA CBC Bldg. San Pablo St. corner Fax No.: 702-4481
8527-6747 CBC-Bldg., Mc Arthur Highway cor. V. Mc Arthur Highway, Angeles City
Fax No.: 8527-3285 Cordero St., Marulas, Valenzuela City Area Code: (045) BATANGAS – LEMERY
Tel. Nos.: 8293-8920; 8293-6160 Tel. Nos.: 323-5793; 887-6028 Miranda Building, Ilustre Avenue,
TANDANG SORA – VISAYAS AVE. 8293-5088; 8293-5089 625-9362 Lemery, Batangas
#250 Tandang Sora Ave., Quezon City 8293-5090; 3445-0657 Fax No.: 887-6029 Area Code: (043)
Tel. Nos.: 8426-3818; 8426-3541 Fax No.: 8293-5091 Tel. Nos.: 409-3467; 984-0206
Fax No.: 8426-3541 ANGELES – STO. ROSARIO Fax No.: 409-3467
VALENZUELA – GEN. LUIS Angeles Business Center Bldg.,
TAYTAY – SAN JUAN AGT Building, 425 Gen. Luis Street Teresa Avenue, Nepo Mart Complex, BATANGAS CITY – KUMINTANG
Velasquez St., Sitio Bangiad, Paso de Blas, Valenzuela City Angeles City, Pampanga ILAYA
Brgy. San Juan, Taytay, Rizal Tel. Nos.: 3443-6160; 3443-6161 Area Code: (045) CBC Building, Brgy. Kumintang Ilaya,
Tel. Nos.: (028) 8811-0309 8983-3861; 8983-3862 Tel. Nos.: 888-5175; 322-9596 Batangas City, Batangas
(028) 8811-0312 Fax No.: 3443-6161 Fax No.: 888-5175 Area Code: (043)
Fax No.: 8998-6649 Tel. Nos.: 702-6823; 702-6826
VALENZUELA – MALINTA APALIT Fax No.: 702-6823
TAYTAY – ORTIGAS EXENSION MacArthur Highway, Brgy. Malinta, CBC Building, McArthur Highway,
Ortigas Ave. Ext., Taytay, Rizal Valenzuela City San Vicente, Apalit, Pampanga BATANGAS – ROSARIO
Fax No.: 8727-1667 Tel. Nos.: 8282-2160; 8282-2013 Area Code: (045) Dr. Gualberto Ave., Brgy. Namunga,
Fax No.: 8727-5873 Fax No.: 8282-2013 Tel. No.: 652-1131 Rosario, Batangas
Fax No.: 302-9560 Area Code: (043)
TIMOG AVE. VISAYAS AVE. Tel. Nos.: 312-3748; 312-3776
G/F Prince Jun Condominium, CBC-Building, Visayas Avenue corner BAGUIO CITY Fax No.: 312-3748
42 Timog Ave., Q.C. Congressional Ave. Ext., Quezon City G/F Juniper Bldg.,
Fax No.: 8371-4523; 8371-4524 Tel. Nos.: 3454-0189; 3455-4334 A. Bonifacio Rd., Baguio City BATANGAS – SAN JUAN
8371-4522; 8371-4506 3455-4335; 8925-2173 Area Code: (074) Rizal St. near corner Gen. Luna St.,
Fax No.: 8371-4503 Fax No.: 8925-2155 Tel. Nos.: 442-9581; 443-8659 Poblacion, San Juan, Batangas
442-9663 Area Code: (043)
THE MEDICAL CITY WEST AVE. Fax No.: 442- 9581 Tel. Nos.: 740-0280; 740-0282
2/F Medical Arts Building, 82 West Avenue, Quezon City Fax No.: 740-0280
The Medical City, Ortigas Ave., Tel. Nos.: 8924-3131; 8924-3143 BAGUIO CITY – KISAD
Pasig City 8924-6363; 8920-6258 G/F Paladin Hotel, No. 136 Kisad Road BATANGAS – TANAUAN
Tel. Nos.: 8372-7701; 8372-7716 8928-3270; 3411-6010 corner Cariño Street, Baguio City J.P. Laurel Highway,
Fax No.: 8372-7701 3411-6011 Area Code: (074) Tanauan City, Batangas
Fax No.: 8924-6364 Tel. Nos.: 424-4837; 424-4838 Area Code: (043)
TRINOMA Fax No.: 424-4838 Tel. Nos.: 702-8956; 702-8957
Unit P002, Level P1, Triangle North of XAVIERVILLE Fax No.: 702-8956
Manila, North Avenue corner EDSA, 65 Xavierville Ave., BALANGA CITY
Quezon City Loyola Heights, Quezon City Servicio Filipino Bldg., Paterno St., BULACAN – BALAGTAS
Tel. Nos.: 7901-5570; 7901-5571 Tel. Nos.: 3433-8696; 8929-1265 Poblacion, Balanga City, Bataan Mac Arthur Highway, Brgy. San Juan,
7901-5572; 7901-5573 8927-9826 Area Code: (047) Balagtas, Bulacan
Fax No.: 7901-5573 Fax No.: 8929-3343 Tel. Nos.: 237-9388; 237-9389 Area Code: (044)
791-1779 Tel. Nos.: 769-4376; 769-0359
TOMAS MAPUA – LAGUNA ZOBEL ROXAS Fax No.: 791-1779 Fax No.: 769-4376
CBC Building, Tomas Mapua St. 1247 Zobel Roxas Ave. corner
Sta. Cruz, Manila Taal Street, Malate, Manila BALER BULACAN – GUIGUINTO
Tel. Nos.: 8289-7923; 8361-3271 Tel. Nos.: 8254-4644; 8252-0831 Provincial Road, Brgy. Suklayin, CBC Building, Cagayan Valley Road,
Fax No.: 8711-9849 Fax No.: 8254-4644 Baler, Aurora Brgy. Sta. Rita, Guiguinto, Bulacan
Area Code: (042) Area Code: (044)
TOMAS MORATO – E. RODRIGUEZ Tel. Nos.: 724-0026 Tel. Nos.: 764-0879; 764-0886
1427 Tomas Morato Ave., Quezon City 8703-3331 (manila line) Fax No.: 764-0879
Tel. Nos.: 8470-3037; 8477-1472 Fax No.: 724-0026
Fax No.: 8470-3037

BULACAN – PLARIDEL CAVITE – IMUS ISABELA – ILAGAN LAGUNA – SAN PEDRO
CBC Building, Cagayan Valley Road, G/F CBC Bldg., Nueno Avenue G/F North Star Mall, Maharlika Highway, No. 365 Brgy. Nueva, National Highway,
Plaridel, Bulacan Tanzang Luma, Imus, Cavite Brgy. Alibagu, Ilagan, Isabela San Pedro City, Laguna
Area Code: (044) Area Code: (046) Area Code: (078) Tel. Nos.: 8816-3864; 8816-4862
Tel. Nos.: 931-2332; 325-0069 Tel. Nos.: 970-8726; 970-8764 Tel. Nos.: 323-0179; 323-0178 Fax No.: 8816-4862
Fax No.: 931-2293 471-2637; 471-7094 Fax No.: 323-0179
Fax No.: 471-2637 LAGUNA – STA. CRUZ
BULACAN – STA. MARIA ISABELA – ROXAS A. Regidor St., Sta. Cruz, Laguna
J.P Rizal corner C. de Guzman St. , CAVITE – MOLINO National Road, Brgy. Bantug, Area Code: (049)
Poblacion, Sta. Maria Patio Jacinto Bldg., Molino National Roxas, Isabela Tel. Nos.: 501-4977; 501-4107
Area Code: (044) Road, Molino 3, Bacoor, Cavite Area Code: (078) 501-4085
Tel. Nos.: 288-2006; 815-2951 Area Code: (046) Tel. Nos.: 376-0422; 376-0434 Fax No.: 501-4107
913-0334 Tel. Nos.: 431-0632; 484-6295 Fax No.: 642-0022
Fax No.: 288-2006 Fax No.: 431-0901 LAOAG CITY
GAPAN Liberato Abadilla Street,
CABANATUAN CITY G/F Waltermart Center - Gapan, Brgy 17, San Francisco, Laoag City
Paco Roman St., Brgy. Dimasalang, CAVITE – ROSARIO Maharlika Highway, Brgy. Bayanihan, Area Code: (077)
Cabanatuan City G/F CBC Building, Gen Trias Drive, Gapan, Nueva Ecija Tel. Nos.: 772-1024; 772-1027
Area Code: (044) Rosario, Cavite Area Code: (044) 771-4688; 771-4417
Tel. Nos.: 600-4265; 463-0935 Area Code: (046) Tel. Nos.: 486-0217; 486-0434 Fax No.: 772-1035
463-0936 Tel. Nos.: 437-0057; 437-0058 486-0695
Fax No.: 463-0936 437-0059 Fax No.: 486-0434 LEGAZPI CITY
Fax No.: 437-0058 G/F Emma Chan Bldg.,
CABANATUAN – MAHARLIKA GUAGUA F. Imperial St., Legazpi City
CBC-Building, Maharlika Highway CAVITE – SILANG Yabut Building, Plaza Burgos, Area Code: (052)
Cabanatuan City CBC Building, J.P Rizal St. Guagua, Pampanga Tel. Nos.: 480-6048; 480-6519
Area Code: (044) Poblacion, Silang, Cavite Area Code: (045) 214-3077
Tel. Nos.: 463-8586; 463-8587 Area Code: (046) Tel. Nos.: 458-1043; 458-1045 Fax No.: 8429-1813 (Manila line)
463-7964; 600-3590 Tel. Nos.: 413-5095; 413-4826 458-1046
940-2395 413-5500; 413-5417 Fax No.: 458-1043 LIPA CITY – TAMBO
Fax No.: 463-8587 Fax No.: 413-5095 Tambo, Lipa City, Batangas
LA TRINIDAD Area Code: (043)
CALAPAN CITY CLARK FREEPORT ZONE G/F SJV Bulasao Building, Tel. Nos.: 757-6331; 757-6332
J.P. Rizal St., San Vicente, Stotsenberg Lifestyle Center, Km. 4, La Trinidad, Benguet Fax No.: 757-6331
Calapan City, Oriental Mindoro Quirino Sr. cor. N. Aquino Streets, Clark Area Code: (074)
Area Code: (043) Freeport Zone, Angeles City, Pampanga Tel. Nos.: 422-2065; 422-2590 LUCENA CITY
Tel. Nos.: 288-8978; 288-8508 Area Code: (045) Fax No.: 422-2065 233 Quezon Avenue, Lucena City
441-0382 Tel. Nos.: 499-8060; 499-8062 Area Code: (042)
Fax No.: 441-0382 499-8063 LA UNION – AGOO Tel. Nos.: 373-2317; 373-3872
Fax No.: 499-8063 National Highway, San Jose Norte, 373-3880; 373-3887
CAMALANIUGAN Agoo, La Union 660-7861
CBC Building, National Highway, DAET Area Code: (072) Fax No.: 373-3879
Camalaniugan, Cagayan Vinzons Avenue, Daet, Camarines Norte Tel. Nos.: 682-0350; 682-0391
Area Code: (078) Area Code: (054) Fax No.: 682-0391 MABALACAT – DAU
Tel. Nos.: 377-2836; 377-2837 Tel. Nos.: 440-0066; 440-0067 One North Mall, #1 McArthur Highway,
Fax No.: 377-2837 Fax No.: 440-0066 LA UNION – SAN FERNANDO Dau, Mabalacat City, Pampanga
Roger Pua Phee Building, Area Code: (045)
CANDON CITY DAGUPAN – PEREZ National Highway, Brgy. 3, Tel. Nos.: 892-4969; 892-6040
CBC Building, National Road, Siapno Building, Perez Boulevard, San Fernando, La Union Fax No.: 892-6040
Poblacion, Candon City, Ilocos Sur Dagupan City Area Code: (072)
Area Code: (077) Area Code: (075) Tel. Nos.: 607-8931; 607-8932 MALOLOS CITY
Tel. Nos.: 674-0574; 674-0554 Tel. Nos.: 522-2562; 522-2563 607-8933; 607-8934 G/F Graceland Mall, BSU Grounds,
Fax No.: 674-0574 522-2564; Fax No.: 607-8934 McArthur Highway, Guinhawa,
Fax No.: 522-8308 Malolos City, Bulacan
CARMONA LAGUNA – BIÑAN Area Code: (044)
CBC Building, Paseo de Carmona DAGUPAN – M.H. DEL PILAR G/F Raja Cordelle Bldg., Tel. Nos.: 794-5840; 662-2013
Brgy. Maduya, Carmona, Cavite Carried Realty Bldg., No. 28 M.H. del National Highway, Brgy. San Vicente, Fax No.: 794-5840
Area Code: (046) Pilar Street, Dagupan City Biñan, Laguna
Tel. Nos.: 430-1969; 430-1277 Area Code: (075) Area Code: (049) MARILAO
430-3568 Tel. Nos.: 523-5606; 522-8929 Tel. Nos.: 511-3196 G/F, SM City Marilao
8475-3941 (Manila line) 632-0430; 632-0583 8245-0440 (Manila Line) Km. 21, Brgy. Ibayo, Marilao, Bulacan
Fax No.: 430-1277 Fax No.: 523-5606 Fax No.: 511-3196 Area Code: (044)
Tel. Nos.: 815-8956; 815-8957
CAUAYAN CITY DOLORES LAGUNA – CABUYAO Fax No.: 815-8956
G/F Prince Christopher Bldg. CBC Bldg., McArthur Highway, Dolores, G/F Centro Mall, Cabuyao City, Laguna
Maharlika Highway, Cauayan City, City of San Fernando, Pampanga Area Code: (049) MARIVELES – FAB
Dist. 2, Isabela Area Code: (045) Tel. Nos.: 544-2287; 544-2289 Tamayo’s Building, Avenue of the
Area Code: (078) Tel. Nos.: 963-3413; 963-3414 Fax No.: 544-2287 Philippines Brgy. Malaya, Freeport Area
Tel. Nos.: 652-1849; 652-0061 963-3415 of Bataan (FAB), Mariveles, Bataan
Fax No.: 652-1849 Fax No.: 963-1014 LAGUNA – CALAMBA Area Code: (047)
CBC-Building, National Highway, Tel. Nos.: 633-9569; 633-9699
CAVITE – DASMARIÑAS ILOCOS NORTE – SAN NICOLAS Crossing, Calamba, Laguna Fax No.: 633-9569
G/F CBC Bldg., Gen. E. Aguinaldo National Highway, Brgy. 2 San Baltazar, Area Code: (049)
Highway, Dasmariñas, Cavite San Nicolas, Ilocos Norte Tel. Nos.: 545-7134; 545-7135 MASBATE
Area Code: (046) Area Code: (077) 545-7136; 545-7137 Espinosa Bldg., Zurbito St.,
Tel. Nos.: 416-5036; 416-5039 Tel. Nos.: 600-0994; 600-0995 545-7138 Masbate City, Masbate
416-5040 Fax No.: 600-0995 Fax No.: 545-7138 Area Code: (056)
8584-40-83 (Manila line) Tel. Nos.: 333-2363; 333-2365
Fax No.: 416-5036 IRIGA CITY LAGUNA – LOS BAÑOS Fax No.: 333-2365
Highway 1, JP Rizal St., San Roque, National Road, San Antonio,
CAVITE – GEN. TRIAS Iriga City, Camarines Sur Los Baños, Laguna MEYCAUAYAN
Lot 12 Brookeside Lane 5 Arnaldo Area Code: (054) Area Code: (049) CBC Building, Malhacan Road,
Highway, Brgy. San Francisco, Tel. Nos.: 299-7000; 456-1498 Tel. Nos.: 557-3223; 557-3224 Meycauayan, Bulacan
Gen. Trias City, Cavite Fax No.: 456-1498 Fax No.: 557-3223 Area Code: (044)
Area Code: (046) Tel. Nos.: 815-6889; 815-6961
Tel. Nos.: 482-8993; 482-8995 815-6958
Fax No.: 482-8995 Fax No.: 815-6961

Branch Directory
NAGA CITY SAN JOSE CITY SM CITY SAN JOSE DEL MONTE TARLAC – CAMILING
Centro- Peñafrancia Street, Naga City Maharlika Highway, Brgy. Malasin, UGF SM City San Jose Del Monte, Savewise Super Market,
Area Code: (054) San Jose City San Jose Del Monte City, Bulacan Poblacion, Camiling, Tarlac
Tel. Nos.: 472-1358; 473-7920 Area Code: (044) Area Code: (044) Area Code: (045)
873-0468 Tel. Nos.: 958-9094; 958-9096 Tel. Nos.: 913-1562 Tel. Nos.: 491-6445; 934-5085
Fax No.: 472-1358 Fax No.: 958-9094 8985-3067(Manila Line) 934-5086
Fax No.: 913-1562 Fax No.: 934-5085
NUEVA ECIJA – STA. ROSA SAN PABLO CITY
CBC Building, Maharlika Highway, M. Paulino Street, San Pablo City SM CITY SAN PABLO TARLAC – CONCEPCION
Poblacion, Sta. Rosa, Nueva Ecija Area Code: (049) G/F SM City San Pablo National G/F Descanzo Bldg., F. Timbol St.
Area Code: (044) Tel. Nos.: 562-5481; 562-5482 Highway, Brgy. San Rafael, San Nicolas Poblacion,
Tel. Nos.: 333-6215; 940-1407 562-5483; 562-5484 San Pablo City, Laguna Concepcion, Tarlac
Fax No.: 333-6215 Fax No.: 562-5485 Area Code: (049) Area Code: (045)
Tel. Nos.: 521-0071; 521-0072 Tel. No.: 491-2987
OCC. MINDORO – SAN JOSE SANTIAGO CITY Fax No.: 521-0072 Fax No.: 491-3113
Liboro corner Rizal Street, Navarro Bldg., Maharlika Highway near
San Jose, Occidental Mindoro corner Bayaua St., Santiago City, Isabela SM CITY STA. ROSA TARLAC – PANIQUI
Area Code: (043) Area Code: (078) G/F SM City Sta. Rosa, Cedasco Building, M. H del Pilar St.,
Tel. Nos.: 491-0095; 491-0096 Tel. Nos.: 682-7024; 682-7025 Bo. Tagapo, Sta. Rosa, Laguna Poblacion, Paniqui, Tarlac
Fax No.: 491-0095 682-7026 Area Code: (049) Area Code: (045)
Fax No.: 682-7026 Tel. Nos.: 534-4640; 534-4813 Tel. Nos.: 491-8465; 491-8464
OLONGAPO – DOWNTOWN Fax No.: 7901-1632 (Manila Line) Fax No.: 491-8465
No. 2 corner 20th St., SM CITY BACOOR
East Bajac-Bajac, Olongapo City LGF SM City Bacoor, Tirona Highway SM CITY TELABASTAGAN TARLAC – SAN RAFAEL
Area Code: (047) corner Aguinaldo Highway, SM City Telabastagan, CBC Building, Brgy. San Rafael,
Tel. No.: 610-9826 Bacoor, Cavite San Fernando City, Pampanga Tarlac City, Tarlac
Fax No.: 610-9826 Area Code: (046) Area Code: (045) Area Code: (045)
Tel. Nos.: 417-0572; 417-0746 Tel. No.: 403-9482 Tel. Nos.: 456-0150; 456-0121
PANGASINAN – ALAMINOS CITY 417-0623; 417-0645 Fax No.: 403-9482 Fax No.: 456-0121
Marcos Avenue, Brgy. Palamis, Fax No.: 417-0583
Alaminos City, Pangasinan SOLANO THE DISTRICT IMUS
Area Code: (075) SM CITY CABANATUAN National Highway Brgy. Quirino, G/F The District Imus Ayala Mall,
Tel. Nos.: 551-3859; 654-0286 UGF SM City Cabanatuan, Maharlika Solano, Nueva Vizcaya Anabu II-D, Imus City, Cavite
Fax No.: 654-0296 Highway, Brgy. H. Concepcion, Area Code: (078) Area Code: (046)
Cabanatuan City, Nueva Ecija Tel. No.: 326-6561 Tel. Nos.: 416-1417; 416-4294
PANGASINAN – BAYAMBANG Area Code: (044) Fax No.: 326-6561 416-4212
CBC Building, No. 91, Poblacion Sur, Tel. Nos.: 958-1916; 486-5501 Fax No.: 416-4212
Bayambang, Pangasinan Fax No.: 958-1916 SORSOGON
Area Code: (075) CBC Bldg., Ramon Magsaysay Ave., TRECE MARTIRES
Tel. Nos.: 632-5776; 632-5775 SM CITY CLARK Sorsogon City, Sorsogon G/F Waltermart, Governor’s Drive corner
Fax No.: 632-5776 G/F (Units 172-173) SM City Clark, Area Code: (056) City Hall Road, Brgy. San Agustin,
M. Roxas St., CSEZ, Angeles City, Tel. Nos.: 211-1610; 421-5105 Trece Martires City, Cavite
PANGASINAN – ROSALES Pampanga Fax No.: 421-5105 Area Code: (046)
CBC Building, Calle Dewey, Area Code: (045) Tel. Nos.: 460-4897; 460-4898
Rosales, Pangasinan Tel. Nos.: 499-0252; 499-0253 SUBIC BAY FREEPORT ZONE 460-4899
Area Code: (075) 499-0254 CBC Building., Subic Bay Gateway Park, Fax No.: 460-4898
Tel. Nos.: 633-3852; 633-3853 Fax No.: 499-0254 Rizal Highway, Subic Bay Freeport Zone
Fax No.: 633-3852 Area Code: (047) TUGUEGARAO CITY
SM CITY DASMARIÑAS Tel. Nos.: 252-1568; 252-1575 A. Bonifacio Street,
PANGASINAN – URDANETA LGF SM City Dasmariñas, Governor’s 252-1591 Tuguegarao, Cagayan
EF Square Bldg., Mc Arthur Highway, Drive, Pala-pala, Dasmariñas, Cavite Fax No.: 252-1575 Area Code: (078)
Poblacion Urdaneta City, Pangasinan Area Code: (046) Tel. Nos.: 844-0175; 844-0831
Area Code: (075) Tel. Nos.: 424-1134 TABACO CITY 846-1709
Tel. Nos.: 632-2637; 632-0541 Fax No.: 424-1133 Ziga Ave. corner Berces Street, Fax No.: 844-0836
656-2022; 656-2618 Tabaco City, Albay
Fax No.: 656-2618 SM CITY LIPA Area Code: (052) TUGUEGARAO – BALZAIN
G/F (Units 1111-1113) SM City Lipa, Tel. Nos.: 487-7150; 830-4178 Balzain Highway,
PASEO DE STA. ROSA Ayala Highway, Brgy. Maraouy, Fax No.: 429-1811 Tuguegarao City, Cagayan
Unit 3, Paseo 5, Paseo de Sta. Rosa, Lipa City, Batangas Area Code: (078)
Sta. Rosa City, Laguna Area Code: (043) TAGAYTAY CITY Tel. Nos.: 396-2207; 396-2208
Area Code: (049) Tel. Nos.: 784-0212; 784-0213 Foggy Heights Subdivision, Fax No.: 396-2207
Tel. Nos.: 837-1831; 502-3016 Fax No.: 784-0212 E. Aguinaldo Highway,
502-2859; 827-8178 Tagaytay City, Cavite VIGAN CITY
8420-8042 (Manila line) SM CITY NAGA Area Code: (046) Burgos Street near corner Rizal Street,
Fax No.: 8420-8042 (Manila line) SM City Naga, CBD II, Tel. Nos.: 483-0609; 483-0608 Vigan City, Ilocos Sur
Brgy. Triangulo, Naga City Fax No.: 483-0609 Area Code: (077)
QUEZON – CANDELARIA Area Code: (054) Tel. Nos.: 722-6968, 674-2272
Pan Philippine Highway cor. Del Valle Tel. Nos.: 472-1366; 472-1367 TALAVERA Fax No.: 722-6948
Street, Poblacion, Candelaria, Quezon CBC Building, Maharlika Highway,
Area Code: (042) SM CITY OLONGAPO CENTRAL Marcos District, Talavera, VIRAC
Tel. Nos.: 797-4298; 797-4299 formerly SM City Olongapo Branch Nueva Ecija G/F MQS Bldg., Quezon Avenue,
Fax No.: 797-4298 G/F SM City Olongapo Central, East Area Code: (044) Brgy. Salvacion, Virac, Catanduanes
Tapinac, Olongapo City, Zambales Tel. Nos.: 940-2620; 940-2621 Area Code: (052)
SAN FERNANDO Area Code: (047) Fax No.: 940-2620 Tel. No.: 811-4321
CBC Bldg., V. Tiomico Street Tel. Nos.: 602-0039; 602-0040 Fax No.: 811-4321
City of San Fernando, Pampanga Fax No.: 602-0038 TARLAC
Area Code: (045) CBC Building, Panganiban near corner ZAMBALES – BOTOLAN
Tel. Nos.: 961-3542; 961-3549 SM CITY PAMPANGA F. Tanedo Street, Tarlac City, Tarlac National Highway, Brgy. Batonlapoc,
963-5458; 963-5459 Unit AX3 102, Building 4, Area Code: (045) Botolan, Zambales
963-5460; 961-5651 SM City Pampanga, Mexico, Pampanga Tel. Nos.: 982-7771; 982-7772 Area Code: (047)
860-1925; 892-3211 Area Code: (045) 982-7773; 982-7774 Tel. Nos.: 811-1322; 811-1372
Fax No.: 961-8352 Tel. Nos.: 455-0304; 455-0306 982-7775 Fax No.: 811-1322
455-0307 Fax No.: 982-7772
SAN FERNANDO – SINDALAN Fax No.: 455-0307
Jumbo Jenra Sindalan, Brgy. Sindalan, TARLAC – BAMBAN
San Fernando City, Pampanga National Road, Bgry. Anupul,
Area Code: (045) Bamban, Tarlac
Tel. Nos.: 455-5561; 455-0569 Area Code: (045)
Fax No.: 455-0569 Tel. No.: 925-0402
Fax No.: 925-0402

VISAYAS CEBU – BANAWA
G/F The J Block, Duterte St.,
CEBU – LAHUG
JY Square Mall, No. 1 Salinas Dr.,
CEBU – SM SEASIDE CITY
LGF SM Seaside City Cebu, South Road
ANTIQUE – SAN JOSE Banawa, Guadalupe, Cebu City, Cebu Lahug, Cebu City Properties, 6000, Cebu City, Cebu
Felrosa Building, Gen. Fullon St. Area Code: (032) Area Code: (032) Area Code: (032)
corner Cerdena St., San Jose, Antique Tel. Nos.: 340-9561; 416-3827 Tel. Nos.: 417-2122; 233-0977 Tel. No.: 262-1772
Area Code: (036) Fax No.: 416-3827 234-2062; 238-9243 Fax No.: 262-1772
Tel. Nos.: 540-7095; 540-7097 Fax No.: 234-2062
Fax No.: 540-7096 CEBU – BANILAD CEBU – SUBANGDAKU
CBC Bldg., AS Fortuna St., CEBU – LAPU LAPU PUSOK G/F A.D. Gothong I.T. Center,
BACOLOD – ARANETA Banilad, Cebu City G/F Goldberry Suites, President Quezon Subangdaku, Mandaue City, Cebu
CBC-Building, Araneta corner Area Code: (032) National Highway, Pusok, Lapu-Lapu City Area Code: (032)
San Sebastian Streets, Bacolod City Tel. Nos.: 346-5870; 346-5881 Area Code: (032) Tel. Nos.: 344-6561; 422-3664
Area Code: (034) 416-1001 Tel. Nos.: 340-2098; 494-0631 344-6621
Tel. Nos.: 435-0648; 433-3818 Fax No.: 344-0087 340-2099 Fax No.: 344-6621
709-1618; 704-2480 Fax No.: 340-2098
445-5814 CEBU- BASAK – SAN NICOLAS CEBU – TALAMBAN
Fax No.: 704-1400 N. Bacalso Ave., Basak, San Nicolas, CEBU – LAPU LAPU CENTRO Unit UG-7 Gaisano Grand Mall,
Cebu City, Cebu G.Y dela Serna St., Opon, Poblacion, Brgy. Talamban, Cebu City
BACOLOD – LACSON Area Code: (032) Lapu Lapu City, Cebu Area Code: (032)
Soliman Bldg., Lacson corner Luzurriaga Tel. Nos.: 340-8113; 414-4742 Area Code: (032) Tel. Nos.: 236-8944; 418-0796
Sts. Bacolod City, Negros Occidental Fax No.: 414-4742 Tel. Nos.: 231-3247; 493-5078 Fax No.: 236-8944
Area Code: (034) Fax No.: 231-3247
Tel. Nos.: 474-2451 CEBU – BOGO CEBU – TALISAY
Fax No.: 474-2451 Sim Building, P. Rodriguez Street, CEBU – MAGALLANES (MAIN) CBC Bldg., 1055 Cebu South National
Bogo City, Cebu CBC Bldg., Magallanes Road, Bulacao, Talisay City, Cebu
BACOLOD – LIBERTAD Area Code: (032) corner Jakosalem Sts., Cebu City Area Code: (032)
Libertad Street, Bacolod City, Tel. Nos.: 434-7119; 266-3251 Area Code: (032) Tel. Nos.: 272-3342; 272-3348
Negros Occidental Fax No.: 434-7119 Tel. Nos.: 255-0022; 255-0023 491-8200
Area Code: (034) 255-0025; 255-0028 Fax No.: 272-3346
Tel. Nos.: 435-1645; 435-1646 CEBU BUSINESS CENTER 253-0348;255-6093
Fax No.: 435-1646 CBC Bldg., Samar Loop corner Panay 255-0266; 412-1877 DUMAGUETE CITY
Road, Cebu Business Park, Cebu City Fax No.: 255-0026 CBC Bldg., Real Street, Dumaguete City
BACOLOD – MANDALAGAN Area Code: (032) Negros Oriental
COFA Bldg., Lacson Street, Mandalagan, Tel. Nos.: 239-3760; 239-3761 CEBU – MANDAUE Area Code: (035)
Bacolod City, Negros Occidental 239-3762; 239-3763 SV Cabahug Building 155-B SB Cabahug Tel. Nos.: 422-8058; 225-5442
Area Code: (034) 239-3764 Street, Brgy. Centro, Mandaue City, Cebu 225-5441; 225-4284
Tel. Nos.: 441-0500; 441-0388 Fax No.: 238-1438 Area Code: (032) 225-5460
709-0067 Tel. Nos.: 346-5636; 346-5637 Fax No.: 422-5442
Fax No.: 709-0067 CEBU – CARCAR 346-2083; 344-4335
Dr. Jose Rizal St., Poblacion I, 422-8188 ILOILO – IZNART
BACOLOD – NORTH DRIVE Carcar, Cebu Fax No.: 346-2083 Iznart corner J. de Leon Streets,
Anesa Bldg., B.S. Aquino Drive, Area Code: (032) Brgy. Magsaysay, Iloilo City 5000
Bacolod City Tel. Nos.: 487-8103; 487-8209 CEBU – MANDAUE-CABANCALAN Area Code: (033)
Area Code: (034) 266-7093 M.L. Quezon St., Cabancalan, Tel. Nos.: 337-9477; 337-9566
Tel. Nos.: 435-0063 to 65; 709-1658 Fax No.: 487-8103 Mandaue City, Cebu Fax No.: 337-9477
Fax No.: 435-0064 Area Code: (032)
CEBU – CONSOLACION Tel. Nos.: 421-1364; 505-9908 ILOILO – JARO
BAYBAY G/F SM City Consolacion, Fax No.: 421-1364 CBC Building, E. Lopez St.
Magsaysay Avenue, Baybay, Leyte Brgy. Lamac, Consolacion, Cebu Jaro, Iloilo City, Iloilo
Area Code: (053) Area Code: (032) CEBU- MANDAUE – J CENTRE MALL Area Code: (033)
Tel. Nos.: 335-2899; 335-2898 Tel. Nos.: 260-0024; 260-0025 LGF J Centre Mall, A.S Fortuna Ave., Tel. Nos.: 320-3738; 320-3791
563-9228 Fax No.: 423-9253 Mandaue City, Cebu Fax No.: 503-2955
Fax No.: 563-9228 Area Code: (032)
CEBU – ESCARIO Tel. Nos.: 520-2898; 421-1567 ILOILO – MABINI
BORONGAN Units 3 & 5 Escario Central, Fax No.: 520-2898 A. Mabini Street, Iloilo City
Balud II, Poblacion, Borongan, Escario Road, Cebu City Area Code: (033)
Eastern Samar Area Code: (032) CEBU – MANDAUE NORTH ROAD Tel. Nos.: 335-0295; 335-0370
Area Code: (055) Tel. Nos.: 416-5860; 520-9229 G/F Units G1-G3, Basak Commercial 509-0599
Tel. Nos.: 560-9948; 560-9938 Fax No.: 520-9229 Building (Kel-2) Basak, Mandaue City Fax No.: 335-0370
261-5888 Area Code: (032)
Fax No.: 560 9938 CEBU – F. RAMOS Tel. Nos.: 345-8861; 345-8862 ILOILO – MANDURRIAO
F. Ramos Street, Cebu City 420-6767 G/F The Grid, Donato Pison
CALBAYOG CITY Area Code: (032) Fax No.: 420-6767 cor. Pacencia Pison Avenues,
Cajurao cor. Gomez Sts., Balud, Tel. Nos.: 253-9463; 254-4867 Atria Park District, San Rafael,
Calbayog Dist., Calbayog City, Samar 412-5858 CEBU – MANDAUE NRA Mandurriao, Iloilo City
Area Code: (055) Fax No.: 253-9461 G/F Bai Hotel Cebu Ouano Ave. Area Code: (033)
Tel. Nos.: 209-1358; 533-8842 cor. Seno Blvd, North Reclamation Area, Tel. Nos.: 333-3988; 333-4088
Fax No.: 533-8842 CEBU – GORORDO Mandaue City, Cebu Fax No.: 501-6078
No 424. Gorordo Ave., Bo. Camputhaw, Area Code: (032)
CATARMAN Lahug District, Cebu City, Cebu Tel. Nos.: 272-6985; 342-2419 ILOILO – RIZAL
Cor. Rizal & Quirino Sts., Jose P. Rizal St, Area Code: (032) Fax No.: 272-6985 CBC Building, Rizal cor. Gomez Streets,
Catarman, Northern, Samar Tel. Nos.: 414-0509; 239-8654 Brgy. Ortiz, Iloilo City
Area Code: (055) Fax No.: 239-8654 CEBU – MINGLANILLA Area Code: (033)
Tel. Nos.: 251-8802; 251-8821 Unit 9, Plaza Margarita, Lipata, Tel. Nos.: 336-0947; 338-2136
500-9921 CEBU – GUADALUPE Minglanilla, Cebu 509-8838
Fax No.: 500-9921 CBC Building, M. Velez Street, Area Code: (032) Fax No.: 338-2144
cor. V. Rama Ave., Guadalupe, Cebu City Tel. Nos.: 239-7234; 490-6025
CATBALOGAN Area Code: (032) Fax No.: 239-7235 KALIBO
CBC Bldg. Del Rosario St. cor. Tel. Nos.: 254-7964; 254-8495 Aklan Catholic College,
Taft Avenue, Catbalogan City, Samar 254-1916 CEBU – NAGA Arch. Gabriel M. Reyes Street
Area Code: (055) Fax No.: 416-5988 Leah’s Square, National South Highway, Kalibo, Aklan
Tel. No.: 543-8121 East Poblacion, Naga City, Cebu Area Code: (036)
Fax No.: 543-8121 CEBU – IT PARK Area Code: (032) Tel. Nos.: 500-8088; 500-8188
G/F The Link, Cebu IT Park, Tel. Nos.: 238-7623; 489-8218 268-2988
CEBU – AYALA Apas, Cebu City, Cebu Fax No.: 489-8218 Fax No.: 500-8188
Unit 101 G/F Insular Life Cebu Business Area Code: (032)
Center, Mindanao Ave. cor. Biliran Road, Tel. Nos.: 266-2559; 262-0982 CEBU – SM CITY
Cebu Business Park, Cebu City Fax No.: 266-2559 Upper G/F, SM City Cebu, Juan Luna
Area Code: (032) cor. A. Soriano Avenue, Cebu City
Tel. Nos.: 262-1839; 260-6524 Area Code: (032)
Fax No.: 260-6524 Tel. Nos.: 232-0754; 232-0755
231-9140; 412-9699
Fax No.: 232-1448

Branch Directory
MAASIN CITY CAGAYAN DE ORO – DIVISORIA DAVAO – PANABO KIDAPAWAN CITY

G/F SJC Bldg., Tomas Oppus St., RN Abejuela St., South Divisoria, Grajeda Bldg (Major Building), Datu Ingkal St., Brgy. Poblacion,
Brgy. Tunga-Tunga, Maasin City, Cagayan de Oro City Quezon St., Brgy New Pandan, Kidapawan City
Southern Leyte Area Code: (088) Panabo City, DDN Area Code: (064)
Area Code: (053) Tel. Nos.: 2272-2641; 857-5759 Area Code: (084) Tel. Nos.: 577-3509; 577-3510
Tel. Nos.: 381-2287; 381-2288 Fax 857-4200 Tel. Nos.: 628-4057; 628-4065 Fax No.: 577-3510
570-8488 Fax No.: 628-4053
Fax No.: 570-8488 CAGAYAN DE ORO – LAPASAN KORONADAL CITY
CBC Building, Claro M. Recto Avenue, DAVAO – RECTO Gen. Santos Drive corner Aquino St.,
NEGROS OCC. – KABANKALAN Lapasan, Cagayan de Oro City CBC Bldg., C.M. Recto Ave. Koronadal City, South Cotabato
CBC Building, National Highway, Area Code: (088) cor. J. Rizal St., Davao City Area Code: (083)
Brgy. 1, Kabankalan, Negros Occidental Tel. Nos.: 859-1651; 859-1645 Area Code: (082) Tel. Nos.: 228-7838; 228-7839
Area Code: (034) 856-1325 Tel. Nos.: 221-4481; 221-7028 520-1788
Tel. Nos.: 471-3349; 471-3364 Fax No.: 859-1651; 856-1325 221-6921; 226-3851 Fax No.: 228-7839
471-3738 Fax No.: 221-8814
Fax No.: 471-3738 CAGAYAN DE ORO – PUERTO MALAYBALAY CITY
Luis A.S. Yap Building, Zone 6, DAVAO – STA. ANA Bethelda Building, Sayre Highway,
NEGROS OCC. – SAN CARLOS Brgy. Puerto, Cagayan de Oro City, R. Magsaysay Avenue corner F. Bangoy Malaybalay City, Bukidnon
Rizal corner Carmona Streets, Misamis Oriental Street, Sta. Ana District, Davao City Area Code: (088)
San Carlos, Negros Occidental Area Code: (088) Area Code: (082) Tel. No.: 813-3372
Area Code: (034) Tel. Nos.: 880-7183; 880-7185 Tel. Nos.: 227-9501; 227-9551 Fax No.: 813-3373
Tel. Nos.: 312-5819; 729-3276 Fax No.: 880-7185 227-9601; 221-1054
Fax No.: 729-3276 221-1055; 221-6672 MIDSAYAP
CAGAYAN DE ORO – GAISANO CITY Fax No.: 226-4902 CBC Building, Quezon Ave.,
ORMOC CITY MALL Poblacion 2, Midsayap, Cotabato
CBC Building, Real cor. Lopez Jaena Sts., G/F Gaisano City Mall, C. M. Recto DAVAO – SM LANANG Area Code: (064)
Ormoc City, Leyte corner Corrales Extension, G/F SM Lanang Premier, Tel. No.: 229-9700
Area Code: (053) Cagayan de Oro City J. P. Laurel Avenue, Davao City Fax No.: 229-9750
Tel. Nos.: 255-3651; 255-3652 Area Code: (088) Area Code: (082)
255-3653 Tel. Nos.: 880-1051; 880-1052 Tel. Nos.: 285-1064; 285-1053 OZAMIZ CITY
Fax No.: 561-8348 Fax No.: 2274-5880 Fax No.: 285-1520 Gomez corner Kaamino Streets,
Ozamiz City
PUERTO PRINCESA CITY COTABATO CITY DAVAO – TAGUM Area Code: (088)
Malvar Street near corner Valencia Street No. 76 S.K. Pendatun Avenue, Davao Central Warehouse Club, Inc. Tel. Nos.: 521-2658; 521-2659
Puerto Princesa City, Palawan Cotabato City, Maguindanao Building, Magugpo East, Lower Apokon, 521-2660
Area Code: (048) Area Code: (064) Tagum City, Davao del Norte Fax No.: 521-2659
Tel. Nos.: 434-9891; 434-9892 Tel. Nos.: 421-4686; 421-4653 Area Code: (084)
434-9893 Fax No.: 421-4685 Tel. Nos.: 655-9561; 655-9560 PAGADIAN CITY
Fax No.: 434-9892 655-6306; 655-6307 Marasigan Building,
DAVAO – BAJADA Fax No.: 655-9560 F.S. Pajares Avenue, Pagadian City
ROXAS CITY B.I. Zone Building, J.P. Laurel Ave., Area Code: (062)
1063 Roxas Ave. cor. Bayot Drive, Bajada, Davao City DAVAO – TORIL Tel. Nos.: 215-2781; 215-2782
Roxas City, Capiz Area Code: (082) McArthur Highway corner St. Peter 925-1116
Area Code (036) Tel. Nos.: 221-0184; 221-0319 Street, Crossing Bayabas, Fax No.: 214-3877
Tel. Nos.: 621-3203; 621-1780 221-0568 Toril, Davao City
522-5775 Fax No.: 224-8370 Area Code: (082) SM CDO DOWNTOWN PREMIER
Fax No.: 621-3203 Tel. Nos.: 303-3068; 295-2334 G/F SM CDO Downtown Premier,
DAVAO – BUHANGIN 295-2332 Cagayan de Oro City
SILAY CITY Buhangin Road, Davao City Fax No.: 295-2332 Area Code: (088)
Rizal St., Silay City, Area Code: (082) Tel. Nos.: 857-2212; 857-3742
Negros Occidental Tel. Nos.: 300-8335; 227-9764 DIPOLOG CITY 859-1063; 859-1054
Area Code: (034) 221-5970 CBC Building, Gen Luna Fax No.: 857-2212
Tel. Nos.: 714-6400; 495-5452 Fax No.: 221-5970 corner Gonzales Streets, Dipolog City
495-0480 Area Code: (065) SURIGAO CITY
Fax No.: 495-0480;495-0480 DAVAO – CALINAN Tel. Nos.: 212-6768; 212-6769 CBC Building, Amat St.,
G/F TNE Bldg., Davao-Bukidnon National 908-2008 Barrio Washington, Surigao City,
TACLOBAN CITY Highway, Calinan District, Davao City Fax No.: 212-6769 Surigao del Norte
Uytingkoc Building, Area Code: (082) Area Code: (086)
Avenida Veteranos, Tel. Nos.: 224-9229; 224-9135 GEN. SANTOS CITY Tel. Nos.: 826-3958; 826-3968
Tacloban City, Leyte Fax No.: 224-9229 CBC Bldg., I. Santiago Blvd., Fax No.: 826-3958
Area Code: (053) Gen. Santos City
Tel. Nos.: 325-7706; 325-7707 DAVAO – INSULAR VILLAGE Area Code: (083) VALENCIA
325-7708; 523-7700 Insular Village I, Km. 8, Lanang, Tel. Nos.: 553-1618; 552-8288 A. Mabini Street,
523-7800 Davao City Fax No.: 553-2300 Valencia, Bukidnon
Fax No.: 523-7706 Area Code: (082) Area Code: (088)
Tel. Nos.: 300-1892; 234-7166 GEN. SANTOS CITY – DADIANGAS Tel. Nos.: 828-2048; 828-2049
TAGBILARAN CITY 234-7165 M. Roxas Ave. corner Lapu-Lapu Street, Fax No.: 828-2048
G/F Melrose Bldg. Carlos P. Garcia Fax No.: (082) 315-3392 Brgy. Dadiangas East, Gen. Santos City,
Avenue, Tagbilaran City, Bohol South Cotabato ZAMBOANGA CITY
Area Code: (038) DAVAO – MA-A Area Code: (083) CBC-Building, Gov. Lim Avenue corner
Tel. Nos.: 501-0688; 501-0677 G/F Lapeña Building, Tel. No.: 552-8576 Nuñez Street, Zamboanga City
411-2484 Mac Arthur Highway, Matina, Davao City Fax No.: 552-8290 Area Code: (062)
Fax No.: 501-0677 Area Code: (082) Tel. Nos.: 991-2978; 991-2979;
Tel. Nos.: 295-0472; 295-1072 ILIGAN CITY 991-1266
Fax No.: 295-1072 Lai Building, Quezon Avenue Extension Fax No.: 991-1266
MINDANAO Pala-o, Iligan City
DAVAO – MATINA Area Code: (063) ZAMBOANGA – GUIWAN
BUTUAN CITY Km. 4 McArthur Highway, Tel. Nos.: 221-5477; 221-5479 G/F Yang’s Tower, M.C. Lobregat National
CBC Building J.C. Aquino Avenue Matina, Davao City 492-3009; 221-3009 Highway, Guiwan, Zamboanga City
Butuan City Area Code: (082) Fax No.: 492-3010 Area Code: (062)
Area Code: (085) Tel. Nos.: 297-4288; 297-4455 Tel. Nos.: 984-1751; 984-1754
Tel. Nos.: 341-5159; 341-7445 297-5880; 297-5881 ILIGAN CITY – SOLANA DISTRICT Fax No.: 984-1751
815-3454; 815-3455 Fax No.: 297-5880 Andres Bonifacio Hi-way, Brgy. San
225-2081 Miguel, Iligan City, Lanao del Norte ZAMBOANGA – SAN JOSE GUSU
Fax No.: 815-3455 DAVAO – MONTEVERDE Area Code: (063) Yubenco Supermarket, San Jose Gusu,
Doors 1 & 2, Sunbright Bldg., Tel. Nos.: 224-7664; 224-7665 Zamboanga City, Zamboanga del Sur
CAGAYAN DE ORO – CARMEN Monteverde Ave., Brgy. 27-C, Fax No.: 224-7664 Area Code: (062)
G/F GT Realty Building, Max Suniel St. Poblacion District, Davao City Tel. Nos.: 995-6154; 955-6155
corner Yakal St., Carmen, Area Code: (082) Fax No.: 955-6154
Cagayan de Oro City Tel. Nos.: 225-3680; 225-3679
Area Code: (088) Fax No.: 225-3680
Tel. Nos.: 858-3902; 858-3903
Fax No.: 858-3903

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CONSUMER BANKING CENTERS

CBG Bacolod Center CBG Cagayan de Oro Center CBG Dagupan Center CBG Iloilo Center
China Bank - Bacolod Araneta China Bank Cagayan de Oro Divisoria China Bank - Dagupan-Perez China Bank - Iloilo-Rizal
2/F CBC Bldg., Araneta St. 2/F CBC Bldg. R.N. Abejuela St. Siapno Bldg., Perez Boulevard 2/F CBC Bldg., Rizal cor. Gomez Sts.
Bacolod City Divisoria, Cagayan de Oro City Dagupan City Brgy. Ortiz, Iloilo City
Tel. No.: (034) 435-0647 Tel. Nos.: (088) 859-1232 Tel. Nos.: (075) 522-8471 Tel. Nos.: (033) 336-7918
(034) 435-0250 (088) 856-2409 (075) 522-8472 (033) 503-2845
Fax No.: (034) 435-0647 Fax Nos.: (088) 856-2409 Fax No.: (075) 522-8472 (033) 336-7909
Email: [email protected] Email: [email protected] Email: [email protected] Fax No.: (033) 336-7918
Center Head: Ivy H. Saplagio Center Head: Ma. Melody D. Carpio Center Head: Maricris P. Macaranas Email: [email protected]
Center Head: Marvin D. Celajes
CBG Batangas Center CBG Cebu Center CBG Davao Center
China Bank - Batangas City China Bank - Cebu Business Park China Bank - Davao-Recto CBG Pampanga Center
3/F CBC Bldg., P. Burgos St. 2/F CBC Corporate Center, 2/F CBC Bldg., C.M. Recto China Bank - San Fernando
Batangas City Samar Loop cor. Panay Road cor. J. Rizal Sts., Davao City 2/F CBC Bldg., V. Tiomico St.
Tel. Nos.: (043) 723-7127 Cebu Business Park, Cebu City Tel. Nos.: (082) 226-2103 Sto. Rosario Poblacion, City of
723-4294 Tel. Nos.: (032) 416-1606 (082) 221-4163 San Fernando, Pampanga
Fax No.: (02) 8520-6161 (032) 346-4448 (082) 222-5761 Tel. Nos.: (045) 961-5344
Email: [email protected] (032) 416-1915 Fax No.: (082) 222-5021 (045) 961-0467
Center Head: Evelyn G. Ricardo (032) 239-3733 Email: [email protected] Email: [email protected]
(OIC) Email: [email protected] Center Head: Renato C. Sanchez II Center Head:
Center Head: Carlo Juan D. C. Bautista
CBG Cabanatuan Center Kinard Hutchinson L. Tan
China Bank - Cabanatuan, Maharlika
2/F CBC Bldg., Brgy. Dicarma,
Maharlika Highway, Cabanatuan City,
Nueva Ecija
Tel. Nos.: (044) 600-1575; 4631063
Fax No.: (044) 464-0099
Email: [email protected]
Center Head: Emilie R. Gatdula
WEALTH MANAGEMENT OFFICES

Makati Head Office Kalookan Office San Fernando Office
15F, China Bank Bldg., 167 Rizal Ave., Extension 2/F V. Tiomico., San Fernando City
8745 Paseo de Roxas cor. Villar Sts., Kalookan City Pampanga
Makati City Tel. Nos.: 8366-8669, 8352-3789 Tel. No.: (045) 961-0486
Tel. Nos.: 8885-5693, 8885-5697, Email: [email protected] Email: [email protected]
8885-5643, 8885-5697
Contact Person: Contact Person:
Jennifer Y. Macariola Ma. Cristina D. Puno
Contact Person:
Therese G. Escolin Quezon City Office Bacolod Office
82 West Ave., Quezon City 2F Bacolod Lacson Branch
Greenhills Office Tel. Nos.: 8426-6980, 8441-4685 Soliman Bldg., Lacson
2/F Chinabank GH-Ortigas Branch Email: [email protected] cor. Luzurriaga Sts., Bacolod City
14 Ortigas Avenue Tel. No.: (034) 431-5549
Greenhills, San Juan City Contact Person: Email: [email protected]
Tel. Nos. 8721-4396; 8727-7884 Jaydee Cheng Tan
Contact Person:
8727-7645; 8724-0413
Alabang Office Julie A. Manuel
2/F Unit D CBC Bldg.,
Contact Person: Acacia Ave., Madrigal Business Park Cebu Office
Ma. Victoria G. Pantaleon Ayala Alabang, Muntinlupa City CBC Bldg.,
Tel. Nos.: 8659-2463, 8659-2464 Samar Loop cor. Panay Road,
Binondo Office Email: [email protected] Cebu Business Park, Cebu City
6/F China Bank Bldg., Tel. Nos.: (032) 415-5881,
Dasmariñas cor. Juan Luna, Contact Person: (032) 239-3741
Binondo, Manila Claire L. Ramirez Email: [email protected]
Tel. No.: 8241-1452
Contact Person:
Eleanor D. Rosales
Contact Person:
Irene C. Tanlimco

China Bank Savings Branches
ACACIA ESTATES – SAVEMORE BINONDO – JUAN LUNA FILINVEST MAKATI – J.P. RIZAL
Acacia Taguig Town Center 694-696 Juan Luna Street, BC Group Building, East Asia Drive 882 J.P. Rizal Street, Poblacion,
Acacia Estates, Ususan, Taguig City Binondo, Manila near corner Commerce Avenue Makati City
Te. Nos.: (632) 8633-5472 Tel Nos.: (632) 7964-1327 Filinvest Corporate City, Alabang, Tel. No.: (632) 8890-1027
8633-3245 8254-7337 Muntinlupa City Mobile No.: 0917-5105919
Tel. No.: (632) 8511-1145
ALABANG HILLS BLUMENTRITT 7217-3069 MALABON - FRANCIS MARKET-
Alabang Commercial Citi Arcade Blumentritt Street, near Oroquieta Mobile No.: 0917-8046443 SAVEMORE
Don Jesus Boulevard, Alabang, Street, Sta. Cruz Manila Francis Market, Governor Pascual
Muntinlupa City Tel Nos.: (632) 7968-4759 FTI HYPERMARKET TAGUIG corner M.H. Del Pilar Street,
Tel. Nos.: (632) 8828-4854 8562-0953 / 8256-3840 DBP Avenue, Food Terminal Malabon City
8403-2801 Mobile No.: 0917- 8273205 Incorporated, Western Bicutan, Tel. Nos.: (632) 8931-6323
Taguig City 7507-4053
BONI AVENUE Tel. Nos.: (632) 8834-0408 Mobile No.: 0917-5614811
AMANG RODRIGUEZ Raymond Tower Boni, 615 Boni Avenue 7507-4090
Amang Rodriguez Avenue Plainview, Mandaluyong City Mobile No.: 0917-5615131 MANDALUYONG
corner Evangelista Street Tel. Nos.: (632) 8636-5072 Paterno’s Building,
Santolan, Pasig City 7316-5983 G. ARANETA 572 New Panaderos Street
Tel. Nos.: (632) 7964-1323 195 G. Araneta Avenue, Quezon City Brgy. Pag-asa, Mandaluyong City
8645-4710 BUENDIA - MAIN Tel Nos.: (632) 8978-6448 Tel. Nos.: (632) 7238-3745
CBS Building 8711-7822 7238-3744
ANGONO 314 Sen. Gil Puyat Avenue, Makati City Mobile No.: 0917-8287829
Manila East, Road corner Tel.No.: (632) 8884-7645 MANDALUYONG – SHAW
Don Benito Street Trunkline: (632) 8988-9555 500 Shaw Tower, 500 Shaw Boulevard
Brgy. San Roque, Angono, Rizal locals 73901 and 73902 GIL PUYAT – BAUTISTA Mandaluyong City
Tel. Nos.: (632) 8651-1779 Mobile No.: 0917-8099638 Lot 25 Blk 74 Bautista Street corner Tel. Nos.: (632) 8941-9231
8651-1782 Sen. Gil Puyat Avenue, Makati 8941-9412
COMMONWEALTH AVE. Tel. Nos.: (632) 8838-2312 Mobile No.: 0917-5806593
ANTIPOLO JocFer Building, Commonwealth 8541-3514 / 8354-5923
EMS Building, M.L. Quezon Avenue, Brgy. Holy Spirit, Quezon City MARIKINA
corner F. Dimailig Street Tel. Nos.: (632) 8282-5946 GREENHILLS – ORTIGAS AVENUE 33 Bayan-Bayanan Avenue
Brgy. San Roque, Antipolo City, Rizal 7957-0559 VAG Building, Ortigas Avenue Brgy. Concepcion 1, Marikina City
Tel. Nos.: (632) 8869-70224 Greenhills, San Juan City Tel. Nos.: (632) 8477-2445
8869-71066 CUBAO Tel. Nos.: (632) 8721-0105 7907-2418
Fernandina 88 Condominium 8724-7528 / 8353-4656 Mobile No.: 0917-8108618
ARANETA CENTER COD – 222 P. Tuazon Boulevard
SAVEMORE Araneta Center, Cubao, Quezon City KALOOKAN MARIKINA – GIL FERNANDO
Gen. Romulo Street, Araneta Center Tel. Nos.: (632) 8913-4903 Augusto Building, Rizal Avenue AVENUE
Cubao, Quezon City 8913-5209 Grace Park, Kalookan City CTP Building, Gil Fernando Avenue,
Tel. Nos.: (632) 8921-3149 Tel. Nos.: (632) 8363-2752 Marikina City
7502-1437 DEL MONTE 8365-7593 Tel. Nos.: (632) 8681-2810
Mobile No.: 0917-8099670 392 Del Monte Avenue, 8645-8169
Brgy. Sienna, Quezon City KALOOKAN MABINI
AYALA AVENUE Tel. No.: (632) 8741-8285 AJ Building, 353 A. Mabini Street, MUÑOZ - JACKMAN
VGP Center, 6772 Ayala Avenue, 8741-2447 Kalookan City Jackman Plaza, Lower Ground Floor
Makati City Tel. No.: (632) 8961-2628 EDSA – Muñoz, Quezon City
Tel. Nos.: (632) 8988-9555 DIVISORIA – DRAGON 8 Tel. Nos.: (632) 8442-4829
Local 8100, 8101, 8103, Dragon 8 Shopping Center, KATIPUNAN AVE. 79684697
8104 / (632) 250-6985 3/Flr. C.M Recto Avenue corner One Burgundy Condominium Mobile No.: 0917-8005128
Mobile No.: 0927-9071716 Dagupan Street, Divisoria, Manila Katipunan Avenue, Loyola Heights,
Tel. Nos.: (632) 8247-3299 Quezon City NEPA - Q MART - SAVEMORE
BACLARAN 7616-1146 Tel. Nos.: (632) 7211-7882 770 Saint Rose Building,
3751 Quirino Avenue corner Mobile No.: 0917-3175106 8988-9555 local 74782 EDSA and K-G Street
Sta. Rita Street Mobile No.: 0917-6283318 West Kamias, Quezon City
Baclaran, Parañaque City E. RODRIGUEZ SR. AVENUE Tel. No.: (632) 88351-4884
Tel Nos.: (632) 8816-1956 Hemady Square, E. Rodriguez Avenue LAGRO Mobile No.: 0917-8636069
7975-2172 corner Doña Hemady Street, Bonaza Building, Quirino Highway
Mobile No.: 0917-7032503 New Manila, Quezon City Greater Lagro, Novaliches, Quezon City NINOY AQUINO AVENUE
Tel. Nos.: (632) 8531-9676 Tel. Nos.: (632) 8936-4988 G/F Skyfreight Building, Ninoy
BANAWE 8531-9680 / 7987-4966 8461-7214 Aquino Avenue corner Pascor Drive,
247-249 Banawe Street, Mobile No.: 0917-8085214 Parañaque City
Sta. Mesa Heights LAS PIÑAS – ALMANZA UNO Tel. Nos.: (632) 8843-2447
Brgy. Lourdes, Quezon City ESPAÑA – SUNMALL Alabang - Zapote Road, Almanza Uno, 7239-0574
Tel. Nos.: (632) 8412-6249 Sun Mall, España Boulevard Las Piñas City
8256-4941 corner Mayon Street Tel. Nos.: (632) 8551-4724 N.S. AMORANTO AVE.
Brgy. Sta. Teresita, Quezon City 8551-4051/ 7966-9001 Unit 101 R Place Building
BANGKAL Tel. Nos.: (632) 8244-2477 Mobile No.: 0917-8173526 255 N.S. Amoranto Sr. Avenue,
Amara Building, 1661 Evangelista 7987-4962 Quezon City
Street, Bangkal, Makati City Mobile No: 0917-8103097 MAKATI – CHINO ROCES Tel. Nos.: (632) 8251-6592
Tel. Nos.: (632) 7621-3459 Graceland Plaza, 2176 Chino Roces 8251-6594 / 7966-9075
7621-3461 FELIX HUERTAS – JT CENTRALE Avenue, Pio del Pilar, Makati City Mobile. No.: 0917-8056964
Unit 103 JT Centrale Mall Tel. Nos.: (632) 7964-1322
B.F. HOMES Fugoso corner Felix Huertas Street, 8831-0477 ORTIGAS CENTER
284 Aguirre Avenue, B.F. Homes, Sta. Cruz, Manila Mobile No.: 0917-5106078 Hanston Square, San Miguel Avenue
Parañaque City Tel. No.: (632) 8247-3177 Ortigas Center, Pasig City
Tel. Nos.: (632) 8553-5412 Mobile No: 0917-5538446 Tel. Nos.: (632) 8477-3439
8553-5414 / 7964-1292 8637-9778
8988-9555 local 74873 Mobile No.: 0917-8078394
Mobile No.: 0917-510-5911

PARAÑAQUE – BETTER LIVING PEDRO GIL TAFT – QUIRINO AVENUE BAGUIO
90 Doña Soledad Avenue, Better Living LKE Building, Pedro Gil Street corner Esther Building, 1945 Taft Avenue, B 108 Lopez Building, Session Road
Subdivision, Bicutan, Parañaque City Pasaje Rosario, Paco, Manila Malate, Manila corner Assumption Road, Baguio City
Tel. Nos.: (632) 8551-3600 Tel. Nos.: (632) 8521-4056 Tel. Nos.: 8525-6286 / 7219-4390 Tel. No.: (074) 446-3993
8831-8507 7502-7101 Mobile No.: 0917-5807061 Mobile No.: 0917-8493218
Mobile No.: 09175615576 Mobile No.: 0917-8636307
TANDANG SORA BALAGTAS
PARAÑAQUE – JAKA PLAZA PLAZA STA. CRUZ Cecile Ville Building III, 670 Tandang Ultra Mega Supermarket,
Jaka Plaza Center, Dr. A. Santos MBI Building, Plaza Sta. Cruz, Sora Avenue corner General Avenue, MacArthur Highway, Burol 1st ,
Avenue, (Sucat Road) Sta. Cruz, Manila Tandang Sora, Quezon City Balagtas, Bulacan
Brgy. San Isidro, Parañaque City Tel. Nos.: (632) 8734-0534 Tel. No.: (632) 7968-4719 Tel.No.: (044) 693-1849
Tel. Nos.: (632) 8820-6093 7618-2241 Mobile No.: 0917-8017585
8820-6091 Mobile No.: 0917-5965826 BALANGA
TAYTAY D.M. Banzon Street,
PARAÑAQUE – LA HUERTA QUEZON AVENUE C. Gonzaga Building II Balanga City, Bataan
1070 Quirino Avenue, La Huerta, GJ Building, 385 Quezon Avenue Manila East Road, Taytay, Rizal Tel. Nos.: (047) 237-3666
Parañaque City West Triangle, Quezon City Tel. Nos.: (632) 8650-3367 (047) 237-3667
Tel. Nos.: (632) 8893-1226 Tel. No.: (632) 8332-2638 8623-6113
7587-6205 Mobile Nos.: 0917-5382423 Mobile No.: 0917-5786978 BALIBAGO
Mobile No.: 0917-5788058 JEV Building, MacArthur Highway
QUEZON AVENUE – PALIGSAHAN TAYUMAN Balibago, Angeles City
PARAÑAQUE – MOONWALK 1184-A Ben-Lor Building 1925-1929 Rizal Avenue Tel. No.: (045) 892-3325
Kassel Residence, E. Rodriguez Brgy. Paligsahan, Quezon City near corner Tayuman Street,
Avenue, Moonwalk, Parañaque City Tel. Nos.: (632) 8376-4546 Sta. Cruz, Manila BALIUAG
Tel. Nos.: (632) 7957-2339 8376-4548 Tel. Nos.: (632) 7586-1618 713 Naning Street, Poblacion
8664-1923 8230-3091 Baliuag, Bulacan
Mobile No.: 0917-6218321 QUIAPO – ECHAGUE Mobile No.: 0917-8325078 Tel. Nos.: (044) 673-1338
Carlos Palanca corner P. Gomez Street (044) 766-2014
PASAY – LIBERTAD Echague, Quiapo, Manila TIMOG
533 Cementina Street, Tel. No.: (632) 8959-4450 Jenkinsen Towers Condominium CABANATUAN – BAYAN
Libertad, Pasay City 80 Timog Avenue, Quezon City Duran Building, Burgos Avenue,
Tel. Nos.: (632) 7907-4246 RADA Tel. Nos.: (632) 8371-8303 Cabanatuan City
8541-1698 HRC Center, 104 Rada Street 8371-8305 Tel. Nos.: (044) 463-0441
Mobile No.: 0917-8080695 Legaspi Village, Makati City (044) 600-2888
Tel. Nos.: (632) 8810-9369 TWO ECOM
PASIG – CANIOGAN 8810-9370 Two E-Com Center Tower B DAGUPAN
KSN Building, C. Raymundo Avenue Ocean Drive corner Bayshore Drive Lyceum-North Western University,
Caniogan, Pasig City ROOSEVELT Mall of Asia Complex, Pasay City Ground Floor, Tapuac District,
Tel. Nos.: (632) 7957-0817 342 Roosevelt Avenue, Quezon City Tel. Nos.: (632) 8802-3068 Dagupan City
8988-9555 local 74786 Tel Nos.: (632) 7957-0796 7587-4753 Tel. No.: (075) 522-9586
Mobile No.: 0917-5206966 8663-7563 / 8688-9146
UN AVENUE DAU
PASIG MUTYA SAN JUAN 552 United Nations Avenue, MacArthur Highway,
Richcrest Building, Caruncho corner Madison Square, Ermita, Manila Dau, Mabalacat, Pampanga
Market Avenue, San Nicolas, Pasig City 264 N. Domingo Street Tel. Nos.: (632) 8400-5467 Tel. Nos.: (045) 892-2216
Tel. Nos.: (632) 8640-7085 Brgy. Pasadena, San Juan City 8400-5468 (045) 892-2216
8642-2870 / 7906-3129 Tel. No.: (632) 8637-4759 Mobile No.: 0917-5382421
Mobile No.: 0917-8173133 Mobile No.: 0917-561-5639 DOLORES
VALENZUELA – MARULAS STCI Building, MacArthur Highway
PASIG – PADRE BURGOS SAVEMORE ANONAS 92 J Ong Juanco Building Brgy. San Agustin, City of San
114 Padre Burgos Street, Maamo Street, Road MacArthur Highway, Marulas, Fernando, Pampanga
Kapasigan, Pasig City Lot 30, V. Luna Street and Anonas Valenzuela City Tel. No.: (045) 649-3724
Tel. No.: (632) 8650-336 Extension, Sikatuna, Quezon City Tel. Nos.: (632) 8291-6541 (045) 649-3150
Mobile No.: 0917-5747874 Tel. No.: (632) 8351-4928 8709-4641
Mobile No.: 0917-8636157 GUAGUA
PASO DE BLAS VISAYAS AVENUE Plaza Burgos, Guagua, Pampanga
Andoks Building, 629 Gen. Luis Street SOUTH TRIANGLE Wilcon City Center Mall, Tel. Nos.: (045) 9010-966
Malinta Interchange – NLEX Sunnymede IT Center, Quezon Avenue Upper Ground Floor (045) 9010-640
Paso de Blas, Valenzuela City South Triangle, Quezon City Visayas Avenue, Quezon City
Tel.Nos.: (632) 3443-5069 Tel. Nos.: (632) 7959-4515 Tel. No.: (632) 8990-6543 GUIGUINTO – RIS
8984-8258 8256-3881 / 8256-4841 RIS-5 Industrial Complex
Mobile No.: 0917-8431722 WILSON 68 Mercado Street, Tabe,
PATEROS 219 Wilson Street, Greenhills, Guiguinto, Bulacan
Unit CC1, East Mansion Townhomes STA. ANA MANILA San Juan City Tel. No.: (044) 235-79630
Elisco Road, Sto. Rosario, Pateros City Savemore Pedro Gil Street, Tel. Nos.: (632) 8584-5946 Mobile No.: 0917-8485249
Tel. Nos.: (632) 8641-9556 Sta. Ana, Manila 7748-7625
8655-2349 Tel. Nos.: (632) 8523-8574 LA UNION
Mobile No.: 0917-8130535 7987-4975 NORTH LUZON A.G. Zambrano Building,
Mobile No.: 0917-8140390 Quezon Avenue
PATEROS – ALMEDA ANGELES – RIZAL San Fernando City, La Union
120 M. Almeda Street, Pateros City STA. MESA 639 Rizal Street, Angeles City Tel. No.: (072) 242-0414
Tel. Nos.: (632) 8641-6760 4128 Ramon Magsaysay Boulevard Tel. Nos.: (045) 323-4303
8641-6768 Sta. Mesa, Manila (045) 888-4971 LAOAG CITY
Tel Nos.: (632) 8252-3286 LC Square Building, J.P. Rizal corner
7507-6515 ARAYAT M.V. Farinas Streets, Laoag City,
Mobile No.: 0917-8353352 Cacutud, Arayat, Pampanga Ilocos Norte
Tel. Nos.: (045) 885-2390 Tel. No.: (077) 600-1008
(045) 409-9559 (077) 600-1009

Branch Directory
LINGAYEN SAN JOSE DEL MONTE SOUTH LUZON LUCENA

The Hub - Lingayen Building Giron Building Merchan corner Evangelista Street,
Poblacion, Lingayen, Pangasinan Gov. Halili Avenue, Tungkong Mangga BACOOR – TALABA Lucena City
Tel. Nos.: (075) 523-4955 City of San Jose del Monte, Bulacan Coastal Road corner Aguinaldo Tel. Nos.: (042) 710-69-64
(075) 523-4953 Tel. Nos.: (044) 815-6616 Highway, Brgy. Talaba, (042) 660-6964
Mobile No.: 0917-8486063 (044) 233-6501 City of Bacoor, Cavite
Mobile No.: 0917-8354675 Tel. Nos.: (046) 4175-930 MOLINO
MACABEBE (046) 512-6315 Avon Building, 817 Molino Road
Poblacion, Macabebe, Pampanga SAN MIGUEL Mobile No.: 0917-8354691 Molino III, City of Bacoor, Cavite
Tel. No.: (045) 435-5507 Norberto Street, San Miguel, Bulacan Tel Nos.: (046) 431-9907
Mobile No.: 0917-8218102 Tel. Nos.: (044) 764-0826 BATANGAS (046) 235-7542
(044) 764-0162 No. 4 Burgos Street, Batangas City (632) 8988-9555
MALOLOS Tel. No.: (043) 723-7652 loc. 74878
Canlapan Street, Sto. Rosario SAN NARCISO Mobile No.: 0917-8173606 Mobile No.: 0917-5615883
City of Malolos, Bulacan Brgy. Libertad, San Narciso, Zambales
Tel. No.: (044) 794-2793 Tel. No.: (047) 913-2245 BIÑAN NAGA
Mobile No.: 0917-8354684 (047) 913-2288 Nepa Highway, San Vicente, RL Building, Panganiban Street
Biñan City, Laguna Lerma, Naga City, Camarines Sur
MALOLOS – CATMON SAN RAFAEL Tel.Nos.: (049) 511-3638 Tel.No.: (054) 472-1947
Paseo Del Rosario, Catmon, Cagayan Valley Road corner (632) 8429-4878
City of Malolos, Bulacan Cruz na Daan, San Rafael, Bulacan SAN PABLO
Tel. Nos.: (044) 791-2461 Tel. Nos.: (044) 815-8915 CALAMBA China Bank Savings Building
(044) 662-7819 (044) 913-7629 HK Building II, National Highway Rizal Avenue corner A. Fule Street,
Brgy. Halang, Calamba City, Laguna San Pablo City
MEYCAUAYAN SANTIAGO – VICTORY NORTE Mobile No.: 0917-8173609 Tel. Nos.: (049) 503-2890
Mancon Building, MacArthur Highway JECO Building, Maharlika Highway (049) 562-0697
Calvario, Meycauayan, Bulacan corner Quezon Street, Victory Norte CAVITE CITY
Tel. No.: (044) 228-2416 Santiago City, Isabela 485 P. Burgos Street, Barangay 34, SAN PEDRO
Tel Nos.: (078) 305-0260 Caridad, Cavite City, Cavite Gen-Ber Building, National Highway
MOUNT CARMEL (078) 305-0252 Tel. Nos.: (046) 417-3102 Landayan, San Pedro City, Laguna
Km. 78 MacArthur Highway, (046) 235-7537 Tel. Nos.: (632) 8847-0585
Brgy. Saguin, City of San Fernando, STA. ANA Mobile No: 0917-5615780 8869-8221
Pampanga Poblacion, Sta. Ana,Pampanga
Tel. No.: (045) 435-6055 Tel. Nos.: (045)409-9818 DARAGA STA. ROSA
(045) 409-0335 N & H Building, Rizal Street Sta. Rosa-Tagaytay Highway,
OLONGAPO Brgy. San Roque, Daraga, Albay Sta. Rosa City, Laguna
City View Hotel Building, STA. MARIA Tel. Nos.: (052) 483-0706 Tel. No.: (049) 502-9134
25 Magsaysay Drive Gen. Luna corner De Leon Street (052) 204-0024 Mobile No.: 0917-5105951
New Asinan, Olongapo City Poblacion, Sta. Maria, Bulacan (052) 204-0025
Tel. No.: (047) 222-1891 Tel. Nos.: (045) 409-9818 STA. ROSA – BALIBAGO
Mobile No.: 0917-8078509 (045) 409-0335 DASMARIÑAS Old National Highway
Veluz Plaza Building, corner Roque Lazaga Street
ORANI STA. RITA Zone 1, Aguinaldo Highway Sta. Rosa City, Laguna
National Road, Balut, Orani, Bataan San Vicente, Sta. Rita, Pampanga Dasmariñas City, Cavite Tel. Nos.: (049) 534-1167
Tel. No.: (047) 638-1282 Tel. No.: (045) 900-0658 Tel. Nos.: (046) 416-0510 (632) 520-8448
(046) 416-0501
PLARIDEL SUBIC STO. TOMAS
0226 Cagayan Valley Road Baraca, Subic, Zambales IMUS The Lifestyle Strip, Maharlika Highway
Banga 1st, Plaridel, Bulacan Tel. Nos.: (047) 232-6105 OLMA Building, Aguinaldo Highway San Antonio, Sto. Tomas, Batangas
Tel. No.: (044) 795-0105 (047) 232-6104 Tanzang Luma, Imus City, Cavite Tel. Nos.: (043) 778-3247
Tel. Nos.: (046) 471-4715 Mobile No.: 0917-8164577
PORAC TARLAC (046) 476-0927
Cangatba, Porac, Pampanga MacArthur Highway, SORSOGON
Tel. No.: (045) 329-3188 San Nicolas, Tarlac City LAGUNA – STA. CRUZ God is Good Commercial Building
Mobile No.: 0917-8703305 Tel. No.: (045) 982-9652 E & E Building, Pedro Guevarra Avenue Rizal Street, Purok 5, Piot, West
Mobile No.: 0905-6793720 Sta. Cruz, Laguna District, Sorsogon City, Sorsogon
SAN FERNANDO Tel. No.: (049) 501-3084 Tel. No: (056) 311-5786
Khy Trading Building, TUGUEGARAO Mobile No.: 0917-5615715 Mobile No: 0917-8351685
Jose Abad Santos Avenue Metropolitan Cathedral Parish Rectory
City of San Fernando, Pampanga Complex Rizal Street, Tuguegarao City LEGAZPI CITY SAVEMORE TAGAYTAY - MENDEZ
Tel. Nos.: (045) 961-1415 Tel. No.: (078) 844-0484 F. Imperial Street, Barangay Bitano Mendez Crossing West, Tagaytay-
(045) 961-1416 Legazpi City, Albay Nasugbu Highway, corner Mendez-
URDANETA Tel. Nos.: (052) 225-5155 Tagaytay Road, Tagaytay City
SAN FERNANDO – BAYAN MacArthur Highway, Nancayasan (052) 431-0820 Tel. No.: (046) 413-387
JSL Building, Consunji Street Urdaneta City, Pangasinan Mobile No.: 0917-836-0093 Mobile No.: 0917-5615334
City of San Fernando, Pampanga Tel No.: (075) 656-2331
Tel. Nos.: (045) 961-8168 LIPA – CM RECTO TANAUAN CITY
(045) 961-4575 VIGAN China Bank Savings Building China Bank Savings Building
Agdamag Building, Quezon Avenue C.M Recto Avenue, Lipa City Jose P. Laurel National Highway
SAN ILDEFONSO corner Calle Mabini, Vigan City, Tel. Nos.: (043) 756-1022 Darasa, Tanauan City, Batangas
Savemore Building, Ilocos Sur (043) 756-1414 Tel. No.: (043) 726 2758
Cagayan Valley Road, Poblacion, Tel No.: (077) 674-0300 Mobile No.: 0917-863-6160
San Ildefonso, Bulacan LOS BAÑOS CROSSING
Tel. Nos.: (044) 797-0742 Lopez Avenue, Batong Malake,
(044) 797-0974 Los Baños, Laguna
Tel. Nos.: (049) 536-2596
(049) 536-0549

China Bank Savings
$WUKPGUU1HƂEGU
VISAYAS – MINDANAO MANDAUE SME LENDING OFFICES MARIKINA
A. Del Rosario Avenue 3rd Floor, CTP Building
BACOLOD Mantuyong, Mandaue City, Cebu MAIN OFFICE 5A Gil Fernando Avenue
Fordland Annex I Building, Tel. No.: (032) 520-2770 SME Lending Group Brgy. San Roque, Marikina City
Lacson Street, Bacolod City, CBS Building, 314 Sen. Gil J. Puyat Tel. Nos.: (02) 8465 9819
Negros Occidental ROXAS AVE. CAPIZ - CITYMALL Avenue, Makati City (632) 8884-7600
Tel. No.: (034) 435-7143 CityMall-Roxas City, Roxas Avenue Tel. Nos.: (632) 8988-9555 local 74238
Mobile No: 0977-8027452 Barangay VI, Roxas City, Capiz locals 75065, 75066,
Tel. No.: (036) 620-1177 75068, 75109, 75110, SAN PABLO
BUTUAN 75142, 75150, 75156, 2nd Floor, China Bank Savings
JMC Building, J.C. Aquino Avenue SAVEMORE TALISAY NEGROS 73044 and 73045 Building, Rizal Avenue
Brgy. Lapu Lapu, Butuan City, OCCIDENTAL cor. A. Fule St., San Pablo City
Agusan Del Norte Savemore Talisay, Mabini Street, NORTH LUZON Tel. Nos.: (049) 800-3917
Tel. No: (085) 818-6665 Zone 12, Paseo Mabini, Talisay City, (632) 8988 9555
Mobile No: 0917-8341071 Negros Occidental BAGUIO local 74127
Tel. Nos.: (034) 441-6267 Room D-303, Lopez Building
CAGAYAN DE ORO (034) 441-6264 Session Road cor. Assumption Road, VISAYAS – MINDANAO
Sergio Osmeña Street (034) 441-6264 Baguio City
Cogon District, Cagayan de Oro City Tel. No.: (632) 8884-7600 CEBU BUSINESS CENTER
Tel. Nos.: (088) 859-0740 TACLOBAN local 74231 2nd Floor, JSP Building
(088) 852-2066 YVI Center Building A, General Maxilom Avenue, Cebu City
Fatima Village, Tacloban City LA UNION Tel. Nos.: (032) 232 6263
CEBU LAHUG Tel. Nos.: (053) 832-2066 2nd Floor AG Zambrano Building (032) 232-2435
Skyrise IT Building, (053) 832-9174 Catbangen, San Fernando City, (632) 8988-9555
Brgy. Apas, Lahug, Cebu City La Union locals 74206 and 73014
Tel. No.: (032) 236-0810 TAGUM Tel. Nos.: (632) 8884-7600
CityMall, Maharlika Highway corner locals 74227 and 74106 DAVAO BUSINESS CENTER
CEBU MANGO AVENUE Lapu- Lapu Extension, Brgy. Magugpo, 8990 Corporate Center
JSP Mango Realty Building, Tagum City PLARIDEL Quirino Avenue, Davao City
Gen. Maxilom Avenue Tel. No.: (08) 216-8117 2nd Floor, CBS Building Tel. Nos.: (082) 298-4569
corner Echavez Street, Cebu City Mobile No.: 0917-8497228 Banga 1st, Plaridel, Bulacan (082) 227-6013 /
Tel. Nos.: (032) 231-4736 Tel. Nos.: (632) 8884-7600 (632) 8988-9555
(032) 231-4304 ZAMBOANGA locals 74251, 74261 locals 74217 and 74214
CityMall, Don Alfaro Street, and 74130
CEBU MANDAUE BASAK Tetuan, Zamboanga City GEN. SANTOS
Cebu North Road, Basak, Tel. No.: (062) 955-8709 PAMPANGA BUSINESS CENTER Go Ching Chay Building
Mandaue City, Cebu 2nd Floor, JSL Building, Consuji St. Santiago Boulevard, Gen. Santos City
Tel. No.: (032) 346-8814 CBS OFF-BRANCH ATMS Sto Rosario, City of San Fernando, Tel. Nos.: (632) 8988-9555
Pampanga local 75110
DAVAO CALAMBA DOCTORS HOSPITAL Tel. Nos.: (632) 8884-7600
8990 Corporate Center, HK Building II, National Highway, locals 74103 and 74104 ILOILO
Quirino Avenue, Davao City Brgy. Halang, Calamba City, Laguna 2nd Floor, CBS Iloilo Branch
Tel. No.: (082) 221-3873 URDANETA Lopez Jaena cor. El 98 St.
RIS COMPOUND Brgy Nancayasan, MacArthur Highway Jaro, Iloilo City
DAVAO RECTO RIS Development Corporation Urdaneta City, Pangasinan Tel. Nos.: (033) 514 4463
C. Villa Abrille Building 168 Mercado Street Tel. No.: (632) 8884-7600 (632) 8884-7600
C.M. Recto Avenue, Davao City Tabe, Guiguinto, Bulacan local 74372 local 74225
Tel. Nos.: (082) 324-5724
(082) 305-5808 ZAMECO COMPOUND SOUTH LUZON APD SALARY LOAN OFFICES
Mobile No.: 0917-8095808 ZAMECO II Head Office
National Road, Brgy. Magsaysay IMUS NCR - QUEZON AVENUE
GENERAL SANTOS Castillejos, Zambales CBS Imus - Tanzang Luma Branch, 2nd floor, G.J. Building
Go Chay Ching Building OLMA Building, Aguinaldo Highway, 385 Quezon Avenue, Quezon City
I. Santiago Boulevard, ST. LOUIS COLLEGE LA UNION Tanzang Luma II, Imus, Cavite Tel. No.: (02) 8372-7926
General Santos City St.Louis College, Carlatan Tel. Nos.: (046) 416-4992 Mobile No.: 0917- 8223514
Tel. No.: (083) 552-6330 San Fernando City, La Union (046) 471-4715
(632) 8884-7600 BACOLOD
ILOILO – IZNART locals 74868, 77848 Fordland 1 Annex Building
Golden Finance Building, and 73038 Lacson Street, Bacolod City
Iznart Street, Iloilo City Tel. No.: (034) 474-2261
Tel. No.: (033) 335-0213 LIPA Mobile No.: 0922-8112680
Mobile No.: 0917-8078378 2nd Floor, China Bank Savings
Building, CM Recto Avenue, Lipa City BAGUIO
ILOILO – JARO Tel. Nos.: (043) 756-5003 B108 Lopez Building
Lopez Jaena corner El 98 Street, (632) 8988-9555 Session Road cor. Assumption Road,
Jaro, Iloilo locals 74253 and 74130 Baguio City
Tel. No.: (033) 320-0370 Tel. No.: (074) 619-2097
LEGAZPI Mobile No.: 0917-861941
KALIBO F. Imperial St., Barangay Bitano
Lot 3459-E-1Toting Reyes Street, Legazpi City, Albay BATANGAS
Kalibo, Aklan Tel. Nos.: (632) 8884-7600 2nd Floor, No. 3 P. Burgos Street,
Tel. No.: (036) 268-4379 local 74273 Batangas City
Mobile No.: 0917-8047837 Mobile No.: 0917-8769938
0931-0224769

Branch Directory
BOGO CITY – CEBU GUIMARAS LINGAYEN SAN JOSE DE BUENAVISTA –

2nd Floor SIM Bldg. Piazza Zemarcato Building The Hub Building, G/F Unit 5&6, ANTIQUE
P Rodriguez Street San Miguel, Jordan, Guimaras Solis Street, Brgy. Poblacion, AML Building 1corner Dalipeatabay
Brgy. La Purisima, Conception, Tel. No.:033-3294751 Lingayen, Pangasinan San Jose de Buenavista, Antique
Bogo City Mobile Nos.: 0917-7733601 Tel. No.: (02) 8988-9555 loc 4132 Mobile No.: 0918-9175291
Mobile No.: 0918-9208760 0918-9656964
LIPA SAN NICOLAS – ILOCOS NORTE
BOTOLAN – ZAMBALES GUMACA 2nd Floor CBS Building VYV Building, Valdez Center,
Casa Bien Building, RM Building CM Recto Avenue Barangay 1, San Nicolas, Ilocos Norte
Barangay Batonlapoc Maharlika Highway, A. Bonifacio Brgy 4., Lipa City Mobile No.: 0918-9572802
Botolan, Zambales Barangay Tabing Dagat, Tel. No.: (043) 277-5315
Tel. Nos.: (02) 8988 - 9555 Gumaca, Quezon Mobile No.: 0917-8277152 SAN PABLO
local 78686 Mobile No.: 0918-9645464 Rizal Avenue cor Lopez Jaena Street,
LUCENA San Pablo City
BUTUAN ILIGAN CITY – LANAO DEL NORTE Merchan cor Evangelista Street, Tel. No.: (049) 521-3991
JMC Building, JC Aquino Avenue Quezon Ave. Extension, Lucena City Mobile No.: 0917-8046178
Butuan City, Agusan Del Norte Barangay Villaverde, Poblacion, Tel. No.: (042) 717-9387
Tel. No.: (02) 8988-9555 Iligan City, Lanao del Norte Mobile No.: 0917-8619387 SANTIAGO
local 4843 Mobile No.: 0918-9397659 JECO Building Maharlika Highway
MALAYBALAY – BUKIDNON cor Quezon Avenue
CABANATUAN ILOILO - IZNART Fortich Street, Barangay 9 Victory Norte Santiago City, Isabela
2nd Floor Dumar Building Golden Commercial Building, Malaybalay City, Bukidnon Tel. No.: (078) 305-0064
Padre Burgos Avenue Iznart, Iloilo City Mobile No.: 0918-9651095
Cabanatuan City Tel. Nos.: (033) 320-5309 SORSOGON
Mobile Nos.: 0917-8740488 094-9648417 MALOLOS 2nd Floor God is Good Building
(044) 940-2679 Canlapan Street, Sto. Rosario Rizal Street, Piot, Sorsogon
IMUS Malolos City, Bulacan Mobile No.: 0917-8161361
CABARROGUIS Gen. Emilio Aguinaldo Highway Tel. No.: (044) 794-1648
Purok 1 Gundaway, Cabarroguis, Anabu II, Imus, Cavite City. TACLOBAN
Quirino Province Tel. No.: (046) 416-1405 MATI CITY – DAVAO ORIENTAL YVI Center, Building A, Baybay
Mobile Nos.: 0918-9649437 Mobile No.: 0917-8038045 Madaway Distributor Inc., S. Road, Brgy. 77, Fatima Village,
Rizal Extension, Mati City, Marasbaras, Tacloban City
CAGAYAN DE ORO IRIGA CITY – CAMARINES SUR Davao Oriental Tel. No.: (053) 832-1874
2nd Floor, Sergio Osmeña Street Everest Plaza Building Mobile No.: 0918-9628744 Mobile No.: 0917-8267612
Cogon District, Cagayan De Oro City Zone 5, Highway 1, San Miguel
Mobile Nos.: 0917-8619281 Iriga City, Camarines Sur NAGA TAGUM
(088) 890-6443 Mobile No.: 0918-9677626 2nd floor Rl Building CityMall, Maharlika Highway
Panganiban Street, Lerma, Naga City cor. Lapu-Lapu Extension
CALBAYOG CITY – SAMAR KABANKALAN CITY – NEGROS Tel. No.: (054) 881-2557 Brgy. Magugpo, Tagum City
Rosales corner Rueda Street OCCIDENTAL Mobile No.: 0917-8619406 Tel. No.: (084) 216-8245 loc 8658
Tel. No.: 055 8370323 Dinsay Building, National Highway, Mobile No.: 0925-5421223
Mobile No.: 0918-9852240 Mabinay, Kabankalan City, ORANI
Negros Occidental Brgy. Balut TANAUAN
CEBU Mobile No.: 0918-9068711 Orani, Bataan Jose P. Laurel National Highway
2F Unit 204 & 205 JSP Mango Realty Darasa, Tanauan City, Batangas
Building, Gen. Maxilom Avenue KALIBO ORMOC – LEYTE Mobile No.: 0977-2647091
cor. Echavez Street, Cebu City F. Quimpo Street Real Street
Tel. No.: (032) 238-7820 connecting Mabini and Toting Reyes District 22, Ormoc City, Leyte TAYTAY
Kalibo, Aklan 2nd floor, Gonzaga Building
DAVAO Mobile No.: 0917-8163655 PAMPANGA Manila East Road, Taytay, Rizal
8990 Corporate Center JSL Building, Consunji Street Tel. Nos.: (02) 7586-3739
Quirino Avenue, Davao City KORONADAL CITY – SOUTH San Fernando, Pampanga 8633-3988
Tel. No.: (082) 287-6824 COTABATO Tel. Nos.: (045) 4039971 Mobile No.: 0917-8158627
Mobile No.: 0917-8619403 MCM Villamor Building (045) 403-9970
Gen. San Drive, Zone 2 Mobile No.: 0917-5523389 TUGUEGARAO
DIGOS CITY – DAVAO DEL SUR Koronadal City, South Cotabato Metropolitan Cathedral Parish
CPP Building II, Rizal Avenue, Zone 1 Mobile No.: 0918-9634815 PASSI CITY – ILOILO Rectory Complex, Rizal Street,
Zone 1, Digos City, Davao del Sur M. Palmares Street, Brgy. Poblacion Tuguegarao City
Mobile No.: 0918-9485586 LA HUERTA Ilawod, Passi City, Iloilo Tel. No.: (078) 375-4471
Quirino Avenue, La Huerta, Mobile No.: 0918-9067075 Mobile No.: 0917-8169491
ESTANCIA – ILOILO Parañaque City
Sitio Poblacion, Highway Mobile No.: 0918-5272535 ROXAS URDANETA CITY – PANGASINAN
Cano-an, Estancia, Iloilo Ground floor, T-114 CityMall Roxas Alexander Street cor. Belmonte Street
Mobile No.: 0918-9432088 LA UNION Roxas Avenue, Brgy. VI, Poblacion, Urdaneta City, Pangasinan
A.G. Zambrano Building, Roxas City, Capiz Mobile No.: 0918-9673831
GEN. SANTOS Quezon Avenue, San Fernando City, Tel. Nos.: (036) 620-0094
Go Chay Ching Building La Union (02) 8988-9555 loc 4144 VIGAN
Santiago Boulevard, Tel. Nos.: (072) 687-2218 Mobile No.: 0917-8064432 Maestro Convention Center
General Santos City (02) 8988-9555 loc 8654 Florentino Street, Brgy 1, Vigan City
Tel. No.: (083) 554-0211 SAN CARLOS CITY – NEGROS Tel. No.: (077) 674-6062
(02) 8988-9555 loc 4129 LEGAZPI OCCIDENTAL
Mobile No.: 0907-8815270 2nd floor, Lot 4-6 Blk 20 PCS-1617 V. Gustilo Street, San Carlos City,
Sol's Subdivision, Purok 5, Negros Occidental
GLAN – SARANGANI 37 Bitano, Legazpi City Mobile No.: 0918-9083793
Ruiz Building Mobile No.: 0917-8059102
Hombrebueno Street, Brgy. Poblacion
Glan, Saranggani Province
Mobile No.: 0918-9853901

5WDUKFKCTKGUCPF#HƂNKCVG
28F BDO Equitable Tower

CBS Building, 314 Sen. Gil Puyat Avenue, Makati City
Tel. No.: (632) 8988-9555
Tel. No.: (632) 8885-5798
www.cbs.com.ph
[email protected]
China Bank Savings, Inc. (CBS) began operations on

China Bank Capital Corporation (China Bank Capital)
September 8, 2008 following the acquisition of Manila
is the multi-awarded, wholly-owned investment banking
Bank by China Bank in 2007. Subsequent mergers with
subsidiary of China Banking Corporation. It was registered
Unity Bank and Planters Development Bank bolstered
and licensed as an investment house in 2015 after the
CBS as a leading thrift bank in the industry. With a
spin-off from China Banking Corporation’s Investment
nationwide retail banking network and strong platform for
Banking Group. The firm offers a full suite of investment
auto, housing, teachers and enterprise finance, CBS is
banking solutions, which include arranging, managing, and
dedicated to servicing the needs of entry-level customers,
underwriting bond offerings, corporate notes issuances,
the broad consumer market and small business owners.
initial public offerings and follow-on offerings of common
CBS is committed to promoting financial inclusiveness
and preferred shares, private placement of securities,
and uplifting the quality of life of consumers and
structured loans, project finance, real estate investment
entrepreneurs, in line with its Easy Banking for You brand
trusts, and asset securitizations. China Bank Capital also
of service.
provides financial advisory services, such as structuring,
valuation, and execution of M&A deals, joint ventures and
BOARD OF DIRECTORS
other corporate transactions.
Chairman Independent Directors
Ricardo R. Chua Margarita L. San Juan
BOARD OF DIRECTORS MANAGEMENT TEAM
Philip S.L. Tsai
Vice Chairman
Claire Ann T. Yap Chairman President
Nancy D. Yang
Genaro V. Lapez Ricardo R. Chua Ryan Martin L. Tapia
Directors
Corporate Secretary Vice Chairman Head of Origination and
James Christian T. Dee
Atty. Arturo Jose M. Romeo D. Uyan, Jr. Client Coverage
William C. Whang
Constantino III Michael L. Chong
Herbert T. Sy, Jr., Directors
Rosemarie C. Gan William C. Whang Head of Execution and
Patrick D. Cheng Lillian Yu Treasurer
Magnolia Luisa N. Palanca Juan Paolo E. Colet
MANAGEMENT COMMITTEE Ryan Martin L. Tapia
Head of Distribution
President Vice President Independent Directors Ma. Martha S. Javelosa
James Christian T. Dee Marjorie T. Esplana Margarita L. San Juan
Head of Compliance and
Head, SME Lending Philip S. L. Tsai
Executive Vice President Risk Management
Claire Ann T. Yap
Joseph C. Justiniano Jason Eric G. Jamias
WITH INTERLOCKING POSITION Corporate Secretary
Head, Asset Recovery IN CHINA BANK
and Credit and Collections Atty. Wilfred Francis B. Martinez
Management Baldwin A. Aguilar
Head, Administrative Services
First Vice Presidents
Niel C. Jumawan Nestor Jayson V. Camba
Head, APD Lending Chief Security Officer
Jan Nikolai M. Lim Maria Rosanna Catherina L. Testa

Head, Consumer Lending Division Head, Human Resources
Luis Bernardo A. Puhawan Hanz Irvin S. Yoro

Controller & Head, Information Security Officer
Controllership Editha N. Young
Jaydee P. Caparas Head, Information Technology
Head, Branch Banking Jose L. Osmeña
Deputy Group Head, RBB

28F BDO Equitable Tower 2nd Floor, VGP Center, 6772 Ayala Avenue
8751 Paseo de Roxas, Makati City Makati City, 1226, Philippines
Tel. No.: (632) 230-6661 to 6663 Tel. No.: (632) 8885-5555
VGP Center: (632) 8751-6000
China Bank Securities Corporation (China Bank
Securities) is the wholly-owned stock brokerage Chinabank Insurance Brokers, Inc. (CIBI) Incorporated
subsidiary of China Bank Capital Corporation. China Bank on November 03, 1998 as a full-service insurance broker,
Securities complements China Bank Capital’s equity providing insurance advice and solutions for retail and
underwriting activities covering the distribution of issues corporate customers, with a wide and comprehensive
under initial and/or follow-on offerings and providing range of products for non- life and life insurance
research and related equity services. requirements. CIBI offers Property, Motor, Marine,
Bonds/Surety, Construction All Risk / Engineering Lines,
CBSC operates as a stock brokerage licensed by Liability, Financial Lines such as Directors & Officers
the SEC to engage in dealing, for its own and for its Liability, Professional Indemnity, Trade Credit, Cyber
customers’ accounts, securities listed in the Philippine Liability, Travel and Group Personal Accident for the Bank
Stock Exchange. The company is eligible to trade dollar- clients including non- mortgaged accounts. CIBI is 100%
denominated securities or DDS, real estate investment owned by the Bank.
trust or REITs and also offers an online stock trading
platform. BOARD OF DIRECTORS MANAGEMENT TEAM
Chairman President
BOARD OF DIRECTORS MANAGEMENT TEAM Patrick D. Cheng Frankie G. Panis
Chairman President and Chief Directors Corporate Treasurer
William C. Whang Executive Officer William C. Whang Kristha Feliz A. Mangahas
Marisol M. Teodoro Frankie G. Panis
Vice Chairman Risk and Compliance Officer
Romeo D. Uyan, Jr. Treasurer and Business Independent Directors Freedom A. Gaviola
Operations Director Philip S.L. Tsai
Directors Account Management Head (CBC)
Mary Antonette E. Quiring Margarita L. San Juan
Marisol M. Teodoro Anne Roselle A. Buna
Ryan Martin L. Tapia Sales & Trading Director Corporate Secretary
Account Management Head (CBS)
Gerald O. Florentino* Julius M. German Belenette C. Tan
Deofel F. Jover
Independent Director Research Director Accounting Head
Genaro V. Lapez Rastine Mackie D. Mercado Maria Victoria A. Dagucon
Claire Ann T. Yap
Associated Person and Operations Head
Corporate Secretary Compliance & Risk Director Arleen B. Gallano
Atty. Ma. Hildelita P. Alano Minnie I. Formales**
OIC - Claims Head
Richelle S. Ayuro
CIBI Branches Head/ Central and
North Luzon Branch Head
Herschel Fitzgerald G. Tumibay
* Effective April 8, 2022 South Luzon Branch Head
** Effective April 11, 2022 Roberto D. Consul
Cebu Branch Head
Maria Carolina B. Ylanan
Davao Branch Head
Richelle R. Aguilon

28F BDO Equitable Tower
4/F China Bank Building, 8745 Paseo de Roxas 8751 Paseo de Roxas, Makati City
cor. Villar St., Makati City Tel. No.: (632) 8885-5798
Tel. Nos.: (632) 8885-5555; 8885-5053; 8885-5060
8885-5051; 8885-5052 Resurgent Capital (FISTC-AMC) Inc. (RECAP) is a
Fax No.: (632) 8885-5047; 8885-9458 special purpose subsidiary of China Bank Capital. It was
incorporated on September 6, 2021, with the primary
CBC Properties and Computer Center, Inc. (CBC-PCCI) purpose of investing in or acquiring non-performing assets
was created on April 14,1982 to provide computer-related of financial institutions as contemplated under Republic
services solely to the China Bank group. It manages the Act No. 11523 or the Financial Institutions Strategic Transfer
Bank’s electronic banking and e-commerce requirements, (FIST) Act and its implementing rules and regulations.
including sourcing, developing and maintaining software
and hardware, financial systems, access devices and BOARD OF DIRECTORS MANAGEMENT TEAM
networks to foster the safety and soundness of China Chairman President and Chief
Bank’s technology infrastructure and keep its processing Romeo D. Uyan, Jr. Executive Officer
Ryan Martin L. Tapia
capabilities in top shape. Directors
Lilian Yu Vice President, Treasurer,
BOARD OF DIRECTORS MANAGEMENT TEAM Rhodin Evan O. Escolar and Legal Counsel
Juan Paolo E. Colet Juan Paolo E. Colet
Chairman President Ryan Martin L. Tapia
Gilbert U. Dee Peter S. Dee Compliance Officer
Independent Directors Mary Grace M. Velasco
Directors Treasurer Margarita L. San Juan
Peter S. Dee William C. Whang Associate Compliance Officer
Claire Ann T. Yap
Ricardo R. Chua Juancho Jeff J. Uy
General Manager Corporate Secretary
William C. Whang
Manuel C. Tagaza Wilfred Francis B. Martinez
Rosemarie C. Gan
Chief Technology Officer
Corporate Secretary
Editha N. Young
Rikki Daniele Louis A. Dela Paz
Manulife China Bank Life Assurance Corporation (MCBLife) is a strategic

alliance between Manulife Philippines and China Bank. MCBLife provides a wide
10th Floor NEX Tower range of innovative insurance products and services to China Bank and China
6786 Ayala Avenue, Bank Savings customers. MCBLife aims to ensure that every client receives
Makati City 1229, Philippines the best possible solution to meet his or her individual financial and insurance
Customer Care: (632) 8884-7000 needs. In 2014, China Bank raised its equity stake to 40% in MCBLife.
Domestic Toll-free: 1-800-1-888-6268
E-mail : [email protected]
DIRECTORS AND OFFICERS
www.manulife-chinabank.com.ph
Chairperson Directors Treasurer
Sachin Shah Matthew Lawrence Edwin Magpantay
William C. Whang
Director/President & Chief Legal Counsel and
Patrick D. Cheng
CEO Manulife Chief Compliance Officer
Richard Bates Independent Directors Fritzie Tangkia-Fabrikante
Janette L. Peña
Director/President & Head of Training
Rhoda Regina R. Rara
CEO MCBL Juan Miguel Javellana
Conrado Favorito
Sandeep Deobhakta
Corporate Secretary
Atty. Abegail D. Sac

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102-2, 102-7
PESO DEPOSITS • Premium Savings Account

A Passbook-based savings account offered in US Dollar.
Checking Account It optimizes your funds for better earnings and with
Monitoring your financial milestones has never been this easy. monthly crediting of interest.
Issue checks at your own convenience with our ChinaCheck
Plus account. Time Deposit
Enjoy higher returns thru our risk-free term deposit accounts.
ChinaCheck Plus
Enjoy value and convenience in one with this affordable • Foreign Currency Time Deposit Account
interest-bearing checking account that comes with an ATM A time deposit account that earns higher interest over
card. a savings account and is credited upon maturity. It is
offered in US Dollar, and Euro which comes with a
Savings Account certificate of deposit, and renewal options.
Select from a variety of Savings Accounts to help you start
achieving your financial needs. DEPOSIT–RELATED SERVICES
• Passbook Savings Cash Card

Save for the rainy days in a simple and easy to monitor A peso denominated re-loadable prepaid card with no
interest-earning passbook savings account. maintaining balance. Allows you to access funds securely.
• ATM Savings Functions similar to an ATM card without the need to open a
Enjoy 24/7 banking convenience with an account that is deposit account. Manage, monitor and store only the amount
as mobile as your lifestyle. you require for your day-to-day expenses.
An interest-earning Peso-denominated savings account
that comes with an ATM card. SSS Pensioner’s Account
• MoneyPlus Savings A savings account for SSS pensioners for the purpose of
An account that gives you flexibility and liquidity. Build crediting pensions and other SSS benefits.
your account balance and be rewarded.
• Young Savers Gift Check
Build your child’s financial future in this interest- A thoughtful gift that is small in size but big in possibilities. A
earning savings account. It has a low initial deposit and China Bank Gift Check for weddings, birthdays, graduations,
maintaining balance requirement solely for children 17 and other special occasions.
years old and below.
Manager’s Check
Time Deposit This is another way for clients to make payments where
Enjoy higher returns thru our risk-free term deposit accounts. checks are issued by the bank in exchange for their cash or
debit from current / savings account – these checks are also
• Regular Time Deposit considered “good as cash”.
For a low minimum placement, you can earn higher
interest than in a regular savings account. Demand Draft
• Diamond Savings Account A check issued by the Bank against its own account with our
A high-yield fixed-term deposit account evidenced by a correspondent banks for use of clients to transfer funds.
passbook.
• Money Lift Plus Safety Deposit Box
Enjoy market flexibility with this 5-year term deposit that The service offered by the Bank to its customers for the
offers floating interest rate. safekeeping / storage of valuables / possessions and other
important documents under lock and key.
FOREIGN CURRENCY DEPOSITS
Night Depository Services
Savings A service to secure and conveniently process deposits even
Diversify your deposit options. after banking hours or during holidays. Cash and checks
deposited will be credited to the customer’s account on
• Foreign Currency Savings Account the next business day, subject to verification and the Bank’s
A Passbook-based savings deposit account offered in normal deposit availability guidelines.
US Dollar, Euro, Chinese Yuan, and Japanese Yen. It
has a low initial deposit and maintaining balance with
convenient access to the account via branches and
China Bank Online.

Cash Delivery and Deposit Pick-Up Services Factoring Receivable
A convenient deposit pick-up and cash delivery solution for A credit facility offered to institutions where the bank
secure cash handling. Service includes the secured transport purchases trade/account receivables at a discounted rate.
of cash via Bank armoured car with client’s preference on
the frequency of pick-up and/or delivery. All deposits are also Consumer Loans
processed in a secure bank facility where cash deposits are
credited the same day. HomePlus Real Estate Loan
A loan for the purchase, construction, and renovation of
OVERSEAS KABABAYAN SERVICES residential units, refinancing of housing loans with on-time
payments, and reimbursement within a year of purchase.
China Bank Remittance
Safe and affordable remittance service to the Philippines AutoPlus Vehicle Loan
through China Bank’s remittance partners abroad. A loan for the purchase of brand new, pre-owned vehicles,
Beneficiaries may receive their remittances through and fleet requirements of companies and reimbursement
(1) credit to bank accounts, whether China Bank or other bank of purchase cost of brand new vehicles within 30 days from
accounts; (2) cash pick-up anywhere through CBC / CBS purchase date.
branches and other payout partners; (3) cash delivery.
Contract-to-Sell Facility
Overseas Kababayan Savings (OKS) Account (PHP) A Purchase of Receivables facility that is granted to eligible
A Peso-denominated, no-initial deposit, and no maintaining real estate developers for the purpose of liquefying their
balance account for Overseas Filipino and their beneficiaries receivables arising from their installment sales covered by
that makes saving and sending /receiving remittances more Contracts to Sell (CTS).
secure and convenient.
Credit Cards
Overseas Kababayan Savings (OKS) Account (USD)
A US dollar-denominated, lower initial deposit, and China Bank Wealth Mastercard
no maintaining balance account for Overseas Filipino and their The premier card designed exclusively for Wealth Management
beneficiaries that makes saving and sending/receiving clients offering luxurious experiences, exceptional privileges,
remittances more secure and convenient. and personalized premium service befitting an elite lifestyle.
Pay to Cash China Bank World Mastercard

Remittance services available through the China Bank mobile The total luxury card that provides world-class privileges such
app: as access to a wide spectrum of lifestyle events, global perks,
(1) Real-Time Cash Pick-Up Anywhere service VIP lounges, and personal concierge.
(2) Same Day Cash Delivery (within NCR only)
China Bank Platinum Mastercard
LOANS AND CREDIT FACILITIES The ultimate travel companion card that rewards cardholders when
they travel, shop, and dine anywhere in the world.
Omnibus Line
A revolving master facility offered to borrowers with sub- China Bank Prime Mastercard
facilities including trade and loan lines that may be shared The everyday card that elevates convenient cashless spending
with related or affiliated companies. through exciting perks, installment offers, and rewards.
Loan Line China Bank Cash Rewards Mastercard

A revolving facility under which funds may be drawn, repaid The must-have card that allows cardholders to save as they spend
and re-drawn at any point within the loan tenor (usually with up to 6% cash rebates.
renewable on a yearly basis).
China Bank Freedom Mastercard
Term Loan The card that offers perpetual waiver on annual membership fees
A non-revolving facility to be repaid within a specified period. with access to rewards and delightful deals.
A term loan may have single or multiple drawdowns, but
once repaid, the amounts cannot be re-drawn. INTERNATIONAL BANKING PRODUCTS & SERVICES
Trade Finance Products Letter of Credit

Include issuance of Trust Receipt and Letter of Credits (“LC”) An irrevocable written undertaking by the Issuing Bank
(including Standby LC, Usance LC, Sight LC, or Cash LC, on behalf of the Applicant to pay the Beneficiary against
Import LC or Export LC, and which could be revocable or presentation of complying documents as stipulated in the
irrevocable). credit.

Products and Services
Standby Letter of Credit Purchase and Sale of Foreign Exchange

An irrevocable written undertaking by the Issuing Bank on Buy and/or sell of foreign exchange to service Trade and Non
behalf of the Applicant to pay the Beneficiary in case the Trade requirements.
Applicant defaults on performance of the agreement.
Inward and Outward Remittance Service -Domestic and
Shipping Guarantee International
A document issued by a bank at the request of Applicant, Send and receive money within the Philippines or to and from
addressed to the shipping line, requesting to release stated other countries.
merchandise to the importer in lieu of submission of the
original bill of lading upon arrival of goods. Foreign Currency Loans
Working capital loans to help strengthen cash flow or help fund
Documents against Payment day to day operations.
A bank to bank transaction in which the exporter sends
documents to the Exporter’s bank with accompanying INVESTMENT BANKING SERVICES
instruction to release documents to the importer once payment
was received by the Importer’s Bank. Bonds
Fixed income instruments that represent an obligation to an
Documents against Acceptance investor made by a borrower (typically corporate or government
A bank to bank transaction in which the exporter sends entities).
documents to the Exporter’s bank with accompanying
instruction to release documents to the importer only upon Syndicated Loans
submission of signed bill of exchange payable at a future date. Financing offered by a group of lenders – referred to as a
syndicate – who work together to provide funds for a single
Advance Payment borrower.
Payments made in advance by the importer/ buyer to the
exporter/supplier prior to receiving the goods or services. Corporate Notes
Typically medium to long-term debt instrument issued by
Open Account corporations to a limited set or number of investors, such as
An arrangement wherein the exporter directly sends the to primary institutional lenders or qualified buyers.
documents to the importer and ships the merchandise for
payment at a future date (minimum of 30 days from shipment Structured Loan
date). Business loan given based on a company’s performance. It
takes into account cash flow more than asset base, and it
Trust Receipt Loans can be a creative financing tool to overcome challenges in
A document executed by an importer in favor of a bank to the business cycle.
finance an import transaction.
Project Finance
Export Bills Purchase Financing arrangements serve to provide financial
The Bank advances the receivables to the exporter at a resources for specific projects, which are operated as
discount. individual business entities, and the income and cash flows
generated by these projects are used to repay their financial
Export Collections obligations.
An arrangement wherein the Presenting Bank sends the
documents to the Collecting Bank on collection basis. Payment Long-Term Negotiable Certificate of Deposit (LTNCD)
to the Exporter is made upon receipt of proceeds from the Bank product offered to investors which has features of
Importer. a term or time deposit and can be negotiated, transferred or
traded by a holder to another individual.
Customs and Duties Tax Payments
Collection and remittance of taxes, duties and other levies to Enrolled Notes (Short Dated Notes/QB Notes)
the Bureau of Customs. Short to medium-term debt instruments issued to qualified
buyers and are enrolled in Philippine Dealing and Exchange
Advising of Letters of Credit and Standby Letters of Credit Corporation’s Fixed Income Board.
Letters of Credit and/or Standby Letters of Credit received
from the Issuing Bank which are checked by the Advising Bank Initial Public Offering
for its authenticity and workability for further advise to the Type of public offering in which shares of a company is
Beneficiary. issued or sold to the public typically consisting of both
institutional and retail investors. IPO’s allow companies to
raise capital from public investors.

Follow On Offering China Bank Short-Term Fund
Issuance of stock subsequent to the company’s initial public A Peso-denominated UITF classified as a money market
offering (IPO). fund which offers a high level of liquidity and better earnings
potential than those offered by money market placements,
Preferred Shares regular savings and short-term time deposit accounts by
Type of shares which typically give preference to the investing primarily in a diversified portfolio of marketable
shareholders in the distribution of assets of the corporation financial instruments including deposits, money market
in case of liquidation and/or in the distribution of dividends. instruments, government securities, and corporate bonds/
notes and preferred shares of stock (classified as debt). The
Convertible Shares Fund’s average duration is not more than one (1) year and
Shares of stock that have a feature that allows the holder to caters to moderate investors.
convert the share into another security.
China Bank Intermediate Fixed-Income Fund
Exchangeable Shares A Peso-denominated UITF classified as an intermediate bond
Type of instrument that allows the holder to exchange the fund which intends to achieve for its participants income
instrument to another instrument, typically an instrument in the intermediate term by investing primarily in a diversified
other than that of the existing instrument of the issuer, at portfolio of high-grade marketable fixed–income securities
some future date and under prescribed conditions. comprised of deposits, tradable money market instruments,
government securities, corporate bonds and notes and
Mergers & Acquisition Advisory preferred shares of stock (classified as debt). The Fund’s
Covers a broad spectrum of services which include advising average duration is not more than three (3) years and caters
on mergers and acquisitions, evaluation of strategic to investors with moderate risk appetite.
alternatives, analysis of business plans, and assessment of
potential strategic and financial partners. China Bank Fixed Income Fund
A Peso-denominated UITF classified as a long-term bond
Corporate Restructuring fund which intends to achieve for its participants a steady
Corporate action undertaken by a company to modify its stream of income by investing primarily in a diversified
operating activities or its existing capital structure. portfolio of high-grade marketable fixed-income securities
such as government securities, tradable corporate bonds
Valuation and notes of varying tenors as well as bank deposits and
Analytical process of determining the current (or projected) money market placements. The Fund’s average duration is
worth of an asset or a company. not more than ten (10) years and caters to investors with
moderate risk appetite.
Securitization
Financial arrangement that involves issuing securities backed China Bank Balanced Fund
by a pool of assets. A Peso-denominated UITF classified as a balanced fund which
intends to achieve for its participants capital appreciation as
TRUST PRODUCTS & SERVICES well as a steady stream of income by primarily investing in
a diversified portfolio of high-grade tradable fixed-income
China Bank Money Market Fund securities issued by the Philippine government and local
A Peso-denominated Unit Investment Trust Fund (UITF) corporations and choice equity issues listed in the Philippine
classified as a money market fund which offers a high level Stock Exchange (PSE). The equity component of the Fund shall
of liquidity and better earnings potential than those offered not exceed 60% of the portfolio at any given time with an
by regular savings and short-term time deposit accounts by average duration of not more than ten (10) years for the fixed-
investing in a diversified portfolio of marketable fixed-income income investments. The Fund caters to aggressive investors.
securities comprised of deposits, tradable money market
instruments, government securities and corporate bonds and China Bank Equity Fund
notes. The Fund’s average duration is not more than one (1) A Peso-denominated UITF classified as an equity fund which
year and caters to investors with moderate risk appetite. offers capital appreciation by primarily investing in a diversified
portfolio of choice equity issues listed in the PSE. The Fund
China Bank Cash Fund caters to aggressive investors with its equity component not
A Peso-denominated UITF classified as a money market exceeding 95% of the portfolio at any given time.
fund which offers a high level of liquidity and better earnings
potential than those offered by regular savings and short-term
time deposit accounts by investing primarily in special savings
deposits. The Fund’s average duration is not more than one (1)
year and caters to conservative investors.

China Bank High Dividend Equity Fund Escrow Services Arrangement

A Peso-denominated UITF classified as an equity fund which An arrangement wherein CBC - TAMG acts as an independent
offers long-term capital appreciation by primarily investing in third party or an escrow agent to safeguard the interest of the
a diversified portfolio of choice common and preferred equity parties to a transaction on assets, documents or funds while
issues listed in the PSE which have regular dividend payment the terms and conditions of the contract are being fulfilled.
policy and/or dividend payment track record. The Fund caters CBC - TAMG offers the following types of escrow services:
to aggressive investors with its equity component not CGT, Buy & Sell, POEA, DHSUD, and PAGCOR.
exceeding 95% of the portfolio at any given time.
Employee Benefit Fund Management
China Bank Dollar Fund A cost-effective corporate arrangement where CBC - TAMG
A US Dollar-denominated UITF classified as a long-term bond helps the company set up and manage its retirement fund
fund which intends to achieve for its participants a steady to benefit its employees, avoid unnecessary cash flow
stream of income by investing primarily in a diversified disruptions brought about by payment of retirement benefits
portfolio of high-grade marketable securities comprised and avail of possible tax savings. The arrangement covers
mainly of Philippine sovereign bonds as well as US treasury assistance in the development of the retirement plan rules
bonds of varying tenors. The Fund’s average duration is not and regulations, coordination with the actuary, registration
more than ten (10) years and caters to investors with moderate of the retirement plan with the Bureau of Internal Revenue
risk appetite. for tax-exemption qualification, and the development and
implementation of investment strategies to maximize the
China Bank Dollar Cash Fund fund’s earnings.
A US Dollar-denominated UITF classified as a money market
fund which offers liquidity and higher earnings potential than Corporate Fund Management
USD time deposits by investing primarily in fixed-income CBC - TAMG acts as an Investment Manager authorized to
securities mostly time deposits, special savings accounts and administer the funds of a corporation in accordance with
government securities. The Fund’s average duration is not pre-agreed investment guidelines based on the company’s
more than one (1) year and caters to conservative investors. objectives, liquidity requirements, yield expectation, and
risk tolerance. The arrangement may either be discretionary
China Bank Philippine Equity Index Tracker Fund wherein CBC - TAMG has full authority to make investment
China Bank Philippine Equity Index Tracker Fund decisions or non-discretionary wherein the company has
A Peso-denominated UITF classified as an equity index control on how the funds shall be invested.
tracker fund which offers capital appreciation by investing
in a diversified portfolio of stocks representative of the Facility Agency Arrangement
Philippine Stock Exchange Index (PSEi) composition and CBC - TAMG acts as a liaison between a corporate borrower
its corresponding weights. The Fund is catered to aggressive and a group of lenders to primarily ensure compliance by the
investors and aims to mirror the returns of its benchmark, the parties with all the terms and conditions in syndicated loan
PSEi. facilities. The arrangement may also cover receipt from and
disbursement of loan payments to the parties, dissemination
Investment Management Arrangement of notices and information to all concerned, and coordination
China Banking Corporation - Trust and Asset Management of creditors’ meetings, among others.
Group (CBC - TAMG) handles the administration and
investment of funds and assets of an individual in order to Security Trusteeship Arrangement
meet his objectives. The arrangement may be discretionary CBC - TAMG acts as a trustee over the properties or assets
wherein CBC - TAMG has full authority to make investment offered as collateral or are the subject of mortgage in favor
decisions based on pre-agreed investment guidelines, but of a syndicate of creditors. The arrangement may include
may also be non-discretionary wherein investment decisions the monitoring of required collateral value, custodianship of
require prior client consent. security documents such as agreements, titles to properties,
and insurance policies.
Personal Management Trust
A living trust arrangement wherein CBC - TAMG acts as a Collecting and Paying Agency Arrangement
trustee to manage the client’s wealth or estate, generally for CBC - TAMG facilitates the collection of payment and prompt
the preservation of assets or property for future use of the disbursement of amounts due to a syndicate of lenders.
beneficiaries, which may or may not be a third party, and/or
to answer for current needs. CBC - TAMG shall ensure fair
and equitable distribution of wealth in accordance with the
client’s wishes and defined instructions.

TREASURY SERVICES INSURANCE PRODUCTS
Investments Platinum Invest Elite

A single-pay variable life insurance product that allows one
Local currency-denominated Government and Corporate to enjoy the rewards from investing in any or a combination
Bond Issues and Perpetual Notes of professionally-managed investment funds, while providing
Peso-denominated debt Instruments issued by the National lifelong protection.
Government or select corporate entities with fixed interest
rates paid quarterly or semi-annually, subject to final Enrich Max
withholding tax. A single-pay variable life product that provides life insurance
protection and potential optimum investment yields where
Foreign currency denominated Government and values are directly linked to the performance of investment
Corporate Bond Issues and Perpetual Notes funds.
Foreign currency-denominated (US Dollar, Euro, Japanese
Yen, Chinese Renminbi) debt Instruments issued by the MCBL Affluence Income
Philippine National Government, other sovereign entities, or A single-pay variable life insurance product designed to provide
select local and foreign Corporate entities with fixed interest early access to earnings to meet short-term needs, unlimited
rates paid semi-annually. earning potential through investment in a professionally
managed fund to help achieve medium- to long-term goals, and
China Bank Bond life protection insurance for peace of mind.
Peso-denominated debt instruments issued by China Banking
Corporation with fixed interest rate paid monthly, subject to MCBL Affluence Max Elite
final withholding tax. A single-pay variable life product that maximizes the potential
earnings of the policy through the guaranteed start-up bonus.
Deposits and Deposit Substitutes
MCBL Enrich
LTNCD A variable life insurance product that allows one to enjoy
Long Term Negotiable Certificate of Deposit issued by the the rewards from investing in any or a combination of
bank with a tenor of at least 5 years with quarterly interest professionally-managed investment accounts, while providing
payments; available in Philippine Peso. insurance protection.
Treasury Certificate of Deposit (TCD) MCBL Invest

Short term deposits (overnight to 1 year) evidenced by a A minimum-pay unit-linked product which is geared towards
certificate of deposit; available in Philippine Peso, US Dollar investment and is intended to improve the build-up of the
or Euro. account value (AV) in the long run by minimizing upfront
charges and imposing higher surrender charges in early
Promissory Note policy years.
Short term deposits substitute (overnight to 1 year)
evidenced by a PN Certificate; available in Philippine Peso; Base Protect Plus
not covered by PDIC. A term insurance plan which provides fixed term protection
coverage for five (5) years, with an option to automatically
Foreign Exchange & Derivatives renew coverage up to age 85 or convert to a permanent plan
depending on changing protection needs.
Foreign Exchange
Spot, Forward and FX Swaps - an agreement to buy/sell a Assure Max
currency for another currency. A participating endowment plan that allows you to enjoy
Protection with guaranteed cash payouts within 20 years or
Derivatives until you reach age 65.
Interest Rate and Cross Currency Swaps - a bilateral
agreement to exchange periodic cash flows for a specific HealthFlex
period of time, based on an agreed notional amount. A whole life health insurance plan that allows you to
customize your critical illness coverage according to
your health needs and your budget. It also offers extensive
health coverage with protection from up to 112 critical
illnesses and add-on benefits.

Group Yearly Renewable Term (GYRT) Personal Accident and Travel

A customizable group life insurance plan for employers Protection for members of your business, organizations,
and organizations designed to provide protection to or institution in case of loss of life, dismemberment, or
employees and their families when misfortune happens. disablement due to accident. In case of death, the benefit is
paid to the designated beneficiary of the insured.
Group Credit Life (GCL)
A group insurance plan that helps creditors to worry less Travel Accident Insurance
because their business is secure. This plan reduces the Covers travel inconveniences such as flight delay, loss of
risk of having unpaid loans and ensures that loans are baggage, medical treatment, among others, for air travel to
settled, whatever happens. Schengen, ASEAN, worldwide and domestic itineraries.
Group Personal Accident (GPA) Medical Insurance / Employee Benefit

A group insurance plan designed to provide assistance to Offers health coverage to individuals, employers, and
employees in case of accidents. The employee will receive medical providers (hospital and doctors) as protection against
financial support during these unforeseen events. It comes financial exposure due to medical costs. Insurance packages
with the following benefits: include Medical Reimbursement programs and Hospital
A. Accidental death Income programs.
B. Accidental dismemberment or loss of use
C. Double indemnity Comprehensive General Liability Insurance
D. Total permanent disability (optional) Covers payment for accidental property damage or bodily
E. Temporary disablement (optional) injury to a third party including legal fees, if necessary, that
F. Hospital indemnity (optional) happens in the course of business operations.
Group Riders (applicable to Group Life and Group Credit Life Electronic Equipment Insurance
only) Provides accident insurance for electronic equipment such
a. Accidental Death, Dismemberment and Disablement as: electronic data processing (EDP) and office equipment,
b. Accidental Medical Reimbursement communication and radio equipment, graphics industry
c. Critical Illness (CI60) equipment, broadcast and television equipment, and other
d. Hospital Income miscellaneous electronic equipment.
e. Terminal Illness
f. Total and Permanent Disability Money, Securities and Payroll Insurance
g. Family Assistance Protection against loss of money used for business operations,
in case of robbery / hold-up, burglary, brigandage, etc.
Fire and Allied Perils
Insurance coverage for homeowners, building owners, and Fidelity Guarantee Insurance
tenants against loss or damage to Building (structure, Protection against financial loss due to dishonest/fraudulent
building / leasehold improvements) and Contents (furniture, acts of regular employees.
fixtures and fittings, appliances, electronic equipment, etc).
Property Floater
Basic package covers Fire and Lightning, which can be Covers loss or damage to mobile property such as heavy
upgraded to include Extended Coverage (smoke, falling equipment, machines, portable electronic equipment,
aircraft, vehicle impact, explosion), and natural disasters paintings, among others.
(Earthquake [Fire & Shock], Typhoon and Flood).
Contractors’ Insurance All Risks (CARI)
Other insurable perils for residential and commercial clients A comprehensive insurance protection against physical loss
include: Riot, Strike and Malicious Damage; Bursting and/or or damage and third party liability for construction works,
Overflowing of Tanks, Apparatus & Pipes; Sprinkler Leakage; contract works, civil engineering works, construction plant
and Spontaneous Combustion. and equipment, and/or construction machinery.
Motor Car Erections’ Insurance All Risks (EARI)

Protection for vehicle owners against loss or damage to their Protection for contract works involving electro-mechanical
vehicles, medical expenses for them and their passenger works, installation of machinery and equipment, and the like.
including Third Party Liabilities. Aside from the contract works, this may also cover testing
and commissioning.
Free 24-hour Roadside Emergency Assistance included in
select packages.
Extensive repair and dealer network for claims servicing.

Marine Cargo China Bank Mobile Banking App
Covers various hazards related to the movement of goods or A free mobile application that can be downloaded from App
cargo via air, land or sea. The insurance can cover all stages Store or Google Play Store and can be installed in any mobile
of delivery - from the time the goods leave the warehouse, device (i.e., smartphones and tablets). It enables customers
throughout the course of transit, until its delivery to the to access their China Bank accounts and perform banking
consignee’s final warehouse. transactions while ‘on the go’. Transactions such as account
viewing, Peek Balance or account balance viewing without
Marine Hull the need to login, bills payment, funds transfer (via InstaPay
Provides coverage for marine vessels and their machinery or PESONet), prepaid reload, loan payment, and checkbook
against Loss or Damage. Coverage can range from request can be performed with just a swipe or a few taps.
comprehensive All Risks to limited Total Loss only.
Customers can also do transactions pioneered by China
Surety Bonds Bank such as RFID reloading, Emergency Cash/ No card On
Issuance of a surety bond to guarantee the principal’s Withdrawal (NOW) – a transaction that allows a customer to
responsibility towards the obligee as required by law or make a cardless withdrawal thru China Bank ATMs, Pay To
contract. Mobile/ Just Use your Mobile Phone (JUMP) – a transaction
that allows a customer to pay or transfer funds to anyone
PAYMENT & SETTLEMENT SERVICES using only recipient’s mobile number, Pay to Cash – a service
which allows the beneficiary to claim their remittance through
China Bank Automated Teller Machine (ATM) pick up at any CBC branch or partner financial institutions
Self-service terminal that provides 24/7 banking services like nationwide or via door to door delivery within Metro Manila,
cash withdrawal (including cardless – fulfillment of transactions Shake to Scan – initiates scanning a QR code for fund transfer
staged in the CBC Mobile App), balance inquiry, bills payment, with just a light shake of the device, and e-Gift – enables
funds transfer, prepaid card reload, and checkbook request. sending of monetary gifts electronically with an image and a
CBC ATMs also accept China Bank TellerCard, other BancNet, personalized message. The mobile app can also show ATMs
Diner’s Club International, Discover, JCB, KFTC, Mastercard, closest to a customer via the Locate Us feature, and their
Unionpay and Visa cards. Selected China Bank ATMs are also status, whether online or offline.
equipped for beep™ card reloading and load balance inquiry.
Point-Of-Sale (POS)
China Bank Cash Accept Machine (CAM) A local PIN-based payments solution using a POS terminal
Deposit-taking terminal that facilitates cardless transaction and that allows ATM cardholders to use their cards as payment for
real-time crediting of deposits to a China Bank account. CBC goods or services in select stores.
CAMs accept old and new generation bills of the following
denominations: PHP 100, 200, 500, and 1,000. CASH MANAGEMENT SERVICES
China Bank TellerPhone China Bank Online Corporate

A phone banking facility that allows customers to perform An internet-based banking channel for the business banking
transactions such as deposit account inquiry, last 3 transactions needs of corporate customers. China Bank Online Corporate
inquiry, last debit/credit, fund transfer (to China Bank accounts securely facilitates basic banking services, self-service
or to other local banks), bills payment, prepaid card reload, SOA functionalities, and Cash Management Solutions.
and checkbook requests, via landline or mobile phone.
Liquidity Management via China Bank Online Corporate
China Bank Online Enables corporate customers have greater visibility and
An internet-based banking channel that provides customers control over their business liquidity to make informed
direct access to their accounts via their personal computer, financial decisions.
laptop, tablet, or mobile phone to do various banking • Sure Sweep - Experience faster and more efficient
transactions. These transactions include account viewing, consolidation or distribution of funds for easier
funds transfer (to China Bank accounts, other local banks, or disbursement and better yields.
e-wallets), bills payment, UITF top-up, checkbook request, • Corporate Inter-Bank Fund Transfer - Transfer funds online
and stop payment order. Self-service password reset and and real-time from your China Bank account to accounts in
payee enrollment are also enabled for users whose mode of other banks.
authenticating transactions is through One-Time Password • Multi-Bank SOA Concentration (Available Soon) - Access
(OTP). account balances, transaction reports, and account
statements of your china bank accounts and other bank
accounts.

Receivables Management POS Solutions

An automated collection solution to improve company Solutions that make it easier for customers to do business
receivables turnover and cash flow. with companies.
• Automatic Debit Arrangement (ADA) - electronically initiate • Debit POS - Equip your business with the flexibility
collections from customers’ or subscribers’ enrolled to accept ATM and debit card payments.
deposit accounts. • POS Cash Out - Provide your customers with the
• Check Depot - Enjoy the convenience of automatic convenience of cash withdrawals via a POS device, and at
crediting of post-dated checks as they fall due. the same time, have an additional income channel.
• Bills Pay Plus - Provide your customers with convenient
payment options through China Bank’s vast network of Trade and Settlement Solutions
branches nationwide and 24/7 electronic banking channels. Services that streamline and accelerate the trade and
• Referenced Deposit Solution - Provide your customers with settlement life cycle of business.
convenient payment options, while making use of a deposit • SCCP Broker’s Solution - Settle stock transactions with
reference number, through China Bank’s vast network of the Securities Clearing Corporation of the Philippines via an
branches nationwide. electronic platform. This solution facilitates net settlement
• Smart Cash Safe Solution - Deposit cash 24/7 via a cash of daily stock trade among stock brokerage firms of the
accepting machine installed in your premises PSE.
• Check Pay Solution (Available Soon) - Manage your • Electronic Invoicing & Payment Solution (Available Soon)
recurring collections in the form of PDCs issued by - Reduce the time and cost of processing invoices. This
individual buyers and automate remittance of tax resulting solution automates and streamlines the presentation,
from sale of property. This solution comes with a special reconciliation, and settlement of electronic invoices /
checking account for buyers. receivables.
Payables Management Government Payments and Collections

A payables solution for optimizing payment timing, Online services for convenient government payments and
strengthening corporate cost management, and enhancing collection directly from China Bank accounts.
operating margins. • Easy Tax Filing and Payment Solution - Electronically file
• Direct Debit Arrangement - Manage your recurring and pay real property taxes.
payments to select utility companies via direct debit from • Tax Payment Solution - File and pay Bureau of Internal
your China Bank account. Revenue (BIR) taxes.
• Auto Credit Arrangement (ACA) - Electronically remit same • eGov Payments - File and pay monthly contributions and
day or future dated payment instructions to the china bank loan payments to Social Security System (SSS), Philippine
accounts of your payees. Health Insurance Corporation (PhilHealth), and Pag-IBIG.
• Check Writing Services - Free your company of the tedious • SSS Sickness, Maternity, and Employee Compensation
task of manually preparing a large number of checks (SSS SMEC) - Receive the SSS sickness, maternity and
o Check Write plus Software - a stand-alone solution that compensation benefit reimbursements of your employees
automates the preparation of checks, vouchers, and via direct credit to your company’s China Bank account.
reports.
o Check Write Plus Outsourcing - Outsource the printing CHINA BANK SECURITIES
and releasing of your corporate checks or China Bank
manager’s checks. Stock Brokerage
o Check Write Plus Self-Service - A web-based solution Trader-assisted and online trading of stocks
that automates the preparation of checks, vouchers, and listed at the Philippine Stock Exchange.
reports.
• Payroll Services - Reduce administrative and manual Research Services
processes involved with paying your employee’s salaries. Coverage of listed companies, industry
o Payroll Crediting - A web-based solution for crediting your sectors, market outlook, daily/weekly market updates, strategy
employees’ china bank payroll accounts directly. reports, among others.
o China Pay Software - A stand-alone payroll & timekeeping
program that automates salary computation and pay slip Other Equity-related Services
and report generation. Distribution of Initial Public/Follow-on Offerings (IPOs/FOOs),
o Payroll Processing - Outsource your entire payroll activity, stabilization agent, among others.
from the calculation of gross salary based on attendance
report up to generation of net pay, pay slips, internal and
statutory reports.

Topic Boundary
102-46
INDEX
Sustainability
Topic Reference Coverage Topic Boundary
Goals
Corporate Indirect Economic GRI 203 : Indirect Economic Enabling Sustainable Customers,
Citizenship Impacts Impacts Finance Shareholders
GRI 203 : Indirect Economic How We Create Value Customers,
Impacts Employees,
Shareholders
Energy GRI 302: Energy 2016 Electricity Consumption Employees
GRI 302: Energy 2016 Fuel Consumption of Employees
Owned vehicles
Water GRI 303: Water and Effluents Water Consumption Employees
2018
Emissions GRI 305: Emissions 2016 Direct Emissions Employees
GRI 305: Emissions 2016 Indirect Emissions Employees
Incorporation of SASB Adapting a Sustainable Customers, Regulators
Environmental, Social, Regulatory Engagement
and Governance Environmental and Social Customers, Regulators
Factors in Credit Management System
Analysis
Local Communities GRI 413: Local Communities Community Development Employees,
Non-Government
Organizations
Strong Customer Privacy GRI 418: Customer Privacy Data Privacy Customers, Regulators
Stakeholder Data Security SASB Cyber Security Customers, Regulators
Relationships
Consumer Protection Customers, Regulators
Customer Financial Inclusion and SASB Digitalization Customers, Suppliers
Satisfaction Capacity Building Financial Inclusion Customers
Employee Employment GRI 401: Employment 2016 Ensuring Talent Employees
Success Occupational Health GRI 403: Occupational Health and Management and Employees
and Safety Safety 2018 Well-being
Training and Education GRI 404: Training and Education Employees
Diversity and Equal GRI 405: Diversity and Equal Employees
Opportunity Opportunity 2016
Non-Discrimination GRI 406: Non-Discrimination Employees
Business Business Ethics SASB; Alignment with BSP, Upholding Strong Customer, Employees,
Integrity SEC and PSE and international Governance Regulators,
best practices; GRI 102: General Shareholders, Suppliers
Disclosures 2016
Anti-Corruption GRI 205: Anti-Corruption Regulatory Compliance Customer, Employees,
Regulators,
Shareholders, Suppliers
Systemic Risk SASB Risk Management Employees, Regulators
Management

)4+%QPVGPV+PFGZ
102-46, 102-55
For the Materiality Disclosures Service, GRI Services reviewed that the GRI content index is clearly presented and the
references for Disclosures 102-40 to 102-49 align with appropriate sections in the body of the report.
GRI Standard Disclosure Page Number and/ or Direct Answers Omission

GRI 101: Foundation 2016
General Disclosures
GRI 102: General Organizational Profile
Disclosures 2016 102-1 Name of the organization 2
102-2 Activities, brands, products, and 2, 139-147
services
102-3 Location of headquarters Back Cover
102-4 Location of operations 120-135
102-5 Ownership and legal form 79
102-6 Markets served 2
102-7 Scale of the organization 2, 10-11, 51-57, 139-147
102-8 Information on employees and other 52-57
workers
102-9 Supply chain 71
102-10 Significant changes to the 2
organization and its supply chain
102-11 Precautionary Principle or Approach 43-44, 75, 70-71
102-12 External Initiatives 47, 58
102-13 Membership of associations Trust Officers Association of the Philippines;
ACI Philippines; Association of Bank Compliance
Officers, Inc.; Association of Bank Remittance
Officers, Inc.; Association of Philippine
Correspondent Banking Officers, Inc.; Bankers’
Association of the Philippines; Bankers’
Institute of the Philippines, Inc.; Bank Marketing
Association of the Philippines; Business
Continuity Managers Association of the
Philippines; Chamber of Thrift Banks; Credit
Card Association of the Philippines; Credit
Management Association of the Philippines;
Financial Executives of the Philippines; Fund
Managers Association of the Philippines; Good
Governance Advocates and Practitioners of the
Philippines; Information Security Officers Group;
Investment House Association of the Philippines;
Money Market Association of National
Advertisers; Personnel Management Association;
Philippine Association of National Advertisers;
Philippine Business for the Environment;
Philippine Payments Management, Inc.; Public
Relations Society of the Philippines; UNISDR
Private Sector Alliance for Disaster Resilient
Societies; Various Local Business Clubs
Strategy
102-14 Statement from senior decision- 6-9
maker
102-15 Key impacts, risks, and opportunities 6-9; 28-29
Ethics and Integrity
102-16 Values, principles, standards, and 3
norms of behavior

Governance
102-18 Governance structure 59
102-19 Delegating authority 66-67
102-20 Executive-level responsibility for 66-67
economic, environmental, and social
topics
102-21 Consulting stakeholders on 66-67
economic, environmental, and social
topics
102-22 Composition of the highest 67-69
governance body and its committees
102-23 Chair of the highest governance 66
body
102-24 Nominating and selecting the 62
highest governance body
102-25 Conflicts of interest 70
102-26 Role of highest governance body in 59, 68
setting purpose, values, and strategy
102-27 Collective knowledge of highest 64
governance body
102-28 Evaluating the highest governance 64
body’s performance
102-30 Effectiveness of risk management 75
processes
102-32 Highest governance body’s role in 32-33
sustainability reporting
102-35 Remuneration policies 72
102-36 Process for determining 72
remuneration
Stakeholder Engagement
102-40 List of stakeholder groups 34-35
102-41 Collective bargaining agreements 57
102-42 Identifying and selecting 34-35
stakeholders
102-43 Approach to stakeholder 34-35
engagement
102-44 Key topics and concerns raised 34-35
Reporting Practice
102-45 Entities included in the consolidated 94-119
financial statements
102-46 Defining report content and topic Back of cover, 36-37;148-153
Boundaries
102-47 List of material topics 36-37
102-48 Restatements of Information None
102-49 Changes in Reporting Material topics (36-37) and Sustainability
Framework (32-33) are changed for this report.
102-50 Reporting period January to December 2021
102-51 Date of most recent report Back of front cover
102-52 Reporting Cycle Annual
102-53 Contact Point for questions regarding 155
the report
102-54 Claims of reporting in accordance Back of front cover
with the GRI Standards
102-55 GRI content index 148-153
102-56 External Assurance This report is not externally assured

GRI Content Index

Economic Performance
GRI 103: Management 103-1 Explanation of the material topic and 6-9
Approach 2016 its Boundary
103-2 The management approach and its 28-29
components
103-3 Evaluation of Management Approach 28-29
GRI 201: Economic 201-1 Direct economic value generated and 28-29
Performance 2016 distributed
201-3 Defined benefit plan obligations and 52
other retirement plans
201-4 Financial assistance received from 28-29
government
Indirect Economic Impacts
GRI 103: Management 103-1 Explanation of the material topic and 6-9
103-2 The management approach and its 28-29
components
103-3 Evaluation of Management Approach 28-29
GRI 203 : Indirect Economic 203-1 Infrastructure investments and 48-50
Impacts 2016 services supported
Energy
GRI 103: Management 103-1 Explanation of the material topic and 43
103-2 The management approach and its 43
components
103-3 Evaluation of Management Approach 43
GRI 302: Energy 2016 302-1 Energy consumption within the 44
organization
Water
components
GRI 303: Water and Effluents 303-1 Water withdrawal by source 45
2018
Emissions
components
GRI 305: Emissions 2016 305-1 Direct (Scope 1) GHG emissions 44
305-2 Indirect (Scope 2) GHG emissions 44

Employment
components
GRI 401: Employment 2016 401-1 New employee hires and employee 53
turnover
401-2 Benefits provided to full-time 52
employees that are not provided to
temporary or part-time employees
401-3 Parental leave 52
Occupational Health and Safety
components
GRI 403: Occupational 403-2 Types of injury and rates of injury, 55
Health and Safety 2018 occupational diseases, lost days, and
absenteeism, and number of work-
related fatalities
Training and Education
components
GRI 404: Training and 404-1 Average hours of training per year per 54
Education 2016 employee
404-2 Programs for upgrading employee 54
skills and transition assistance
programs
Diversity and Equal Opportunity
components
GRI 405: Diversity and Equal 405-1 Diversity of governance bodies and 56
Opportunity 2016 employees
Non-Discrimination
components
GRI 406: Non-Discrimination 406-1 Incidents of discrimination and 56
2016 corrective actions taken

GRI Content Index

Local Communities
components
GRI 413: Local Communities 413-1 Operations with local community 47
2016 engagement, impact assessments,
and development programs
Anti-Corruption
components
GRI 205: Anti-Corruption 205-1 Operations assessed for risks related 70
2016 to corruption
Customer Privacy
components
GRI 418: Customer Privacy 418-1 Substantiated complaints concerning 40-41
2016 breaches of customer privacy and
losses of customer data

5#5$%QPVGPV+PFKEGU
INDEX
Topic Acounting Metric Direct Answers Page Numbers

(1) Number of data breaches,
(2) percentage involving personally Data Privacy Section; “No significant data
41
identifiable information (PII), (3) privacy breaches were recorded”
Data Security number of account holders affected
Description of approach to identifying Data Privacy Section; Customers’ Data
40-41
and addressing data security risks protection management
How we create value; “Amount of MSME
(1) Number and (2) amount of loans
loans in 2021”
outstanding qualified to programs 28-29
Contribution to UN Sustainable Development
designed to promote small business 30-31
Goals; “ UN SDG No. 1 - Number of financed
and community development
MSME’s in 2021”
Number and (2) amount of past
due and nonaccrual loans qualified
Financial Inclusion to programs designed to promote Not disclosed
and Capacity small business and community
Building development
Number of no-cost retail checking
accounts provide to previously Not disclosed
unbanked or unbanke customer
Number of participants in financial Contribution to UN Sustainable Development
literacy initiatives for unbanked, Goals; “UN SDG No. 4 - Beneficiaries of
30-31
underbanked, or underserved Financial literacy programs of China Bank in
customers 2021”
Commercial and industrial credit
Not disclosed
Incorporation of exposure, by industry
Environmental,
Social, and Description of approach to
Corporate Citizenship; “Adapting a sustainable
Governance Factors incorporation of environmental,
regulatory engagement” and “Environmental 43-45
in Credit Analysis social, and governance (ESG) factors
and Social Management System”
in credit analysis
Total amount of monetary losses as a

result of legal proceedings associated
with fraud, insider trading, anti-trust,
Disclosure on Capital Structure and Capital
anti-competitive behavior, market 94-103
Adequacy
Business Ethics manipulation, malpractice, or other
related financial industry laws or
regulations
Description of whistleblower policies
Governance Policies; Whistle-blowing 71
and procedures
Global Systemically Important Bank
Not applicable N/A
(G-SIB) score, by category
Description of approach to
Systemic Risk incorporation of results of mandatory
Management and voluntary stress tests into
capital adequacy planning, long- Risk Management; Integrated Stress Testing 77
term corporate strategy, and other
business
activities

On to Our Next Century of Banking
+PXGUVQT+PHQTOCVKQP
Annual Stockholders’ Meeting Customer Information
May 5, 2022, Thursday, 4:00 p.m. We welcome letters or all such communications on matters
conducted virtually via pertaining to the management of the Bank, stockholders’ rights, or
https://www.chinabank.ph/asm2022 any other bank-related issues of importance. Stockholders who wish
to communicate with any or all of the members of the China Bank
Shareholder Services Board of Directors may send letters to:
For inquiries or concerns regarding dividend payments, account Atty. Leilani B. Elarmo
status, change of address or lost or damaged stock certificates, Senior Assistant Vice President and Corporate Secretary
please get in touch with: China Banking Corporation
11/F China Bank Building
Stocks and External Relations 8745 Paseo de Roxas cor. Villar St.
Office of the Corporate Secretary Makati City 1226, Philippines
11/F China Bank Building Email: [email protected]
8745 Paseo de Roxas cor. Villar St. [email protected]
Makati City 1226, Philippines [email protected]
Contact persons: Customer Assistance Channels

Atty. Wilfred Francis B. Martinez / Atty. Steven Angelo C. Sy Aside from China Bank branches nationwide, our customers and the
Mr. Jaime G. Dela Cruz public can reach us though the following:
Tel. No.: (+632) 8885-5132; 8230-6987 Customer Contact Center Hotline

Fax No.: (+632) 8885-5135 Metro Manila: 888-55-888
Email: [email protected] Domestic Toll-Free: 1-800-1888-5888 (PLDT)
[email protected] International Toll-free: Visit www.chinabank.ph for the list of
[email protected] countries and toll-free numbers
Stock Transfer Service, Inc. Email

Unit 34-D Rufino Pacific Tower [email protected]
6784 Ayala Ave.
Makati City 1226, Philippines Viber
+639178814263
Contact persons:
Antonio M. Laviña Facebook
Ricardo D. Regala, Jr. www.facebook.com/chinabankph
Tel. Nos.: (+632) 8403-2410; 8403-2412; 5310-3671 Twitter

Fax No.: (+632) 8403-2414 www.twitter.com/chinabankph
Investor Inquiries Mail

Customer Contact Center,
We welcome inquiries from investors, analysts, and the financial China Bank Building, 8745 Paseo de Roxas
community. For information about the developments corner Villar St., Makati City 1226 Philippines
at China Bank, please contact:
Gerald O. Florentino
First Vice President and Head
Investor & Corporate Relations Group
28/F BDO Equitable Tower
8751 Paseo de Roxas
Makati City 1226, Philippines
Tel. No.: (+632) 8885-5609

Website: www.chinabank.ph

POST-CONSUMER RECOVERED FIBER
The cover of this China Bank Annual Financial & Sustainability Report is printed on Radiance
New Evolution White 280 gsm. Radiance is an uncoated felt-marked paper that captures the
extraordinary printing definition and effects of a coated paper, certified by the Forest Stewardship
Council (FSC) which promotes environmentally appropriate, socially beneficial, and economically
viable management of the world’s forest.
The inside pages are printed on Magno Plus Silk White 100 gsm, a PEFC Credit material and FSC
Mix Credit material certified product made from European mills. By optimizing the use of natural
resources, this product achieves environmental sustainability while keeping the highest quality.
CHINA BANKING CORPORATION
China Bank Building
8745 Paseo de Roxas corner Villar Street
Makati City 1226, Philippines
www.chinabank.ph

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On to Our

About the Cover

2021 Annual Financial and Sustainability Report 1

China Banking Corporation (China Bank) is a leading

We are a member of the SM Group, one of the largest

SMIC Foreign Others

2 China Banking Corporation

VISION MISSION CORE VALUES

We will maintain the highest ethical

2021 Annual Financial and Sustainability Report 3

1920 1942 1965

4 China Banking Corporation

2021 Annual Financial and Sustainability Report 5

6 China Banking Corporation

2021 Annual Financial and Sustainability Report 7

8 China Banking Corporation

Valuing what matters We are moving forward, determined to achieve our

Confidence in our future

2021 Annual Financial and Sustainability Report 9

CONSOLIDATED PARENT COMPANY

At Year-End (In Million Pesos)

Distribution Network and Human Resource

Key Performance Indicators (In %)

10 China Banking Corporation

Net Income Total Resources Stockholders’ Equity

Total Deposits Distribution Network Total CAR

863 1,022 1,037 15.75

Return on Average Equity Cash Dividends Paid Market Capitalization

13.58 2.7 2.7 89

12 China Banking Corporation

With people’s safety as still the top priority in 2021,

2021 Annual Financial and Sustainability Report 13

From the onset, our strategy is to provide customers with a great

• Maintained branch operations

14 China Banking Corporation

• Maintained 99.9% availability of digital channels.

2021 Annual Financial and Sustainability Report 15

ATMs, a wide screen monitor displaying the Bank’s

To preserve the Bank’s heritage and more importantly, to

The building’s impressive transformation is very

While the pandemic accelerated the adoption of online

16 China Banking Corporation

Encouraging saving and investing

The pandemic has reminded people of the importance of being

• Launched “Save Big, Shop Big” deposit promo to

2021 Annual Financial and Sustainability Report 17

* Trust & Asset Management Group and Wealth Management Group

MORE STOCK MARKET INVESTORS

18 China Banking Corporation

The Bank was the country’s best performing bank in 2020 in

China Bank’s financial strength was also recognized by The

2021 Annual Financial and Sustainability Report 19

Millions of Filipinos at the fringes—the unbanked and underserved

MORE LOAN CENTERS,

Replace with Elementary P16.4B

• Added a new Cash Pick-Up Partner, Al-Amanah

20 China Banking Corporation

MORE NEW-TO-BANK PDOS is an important part of OWWA’s education policy

2021 Annual Financial and Sustainability Report 21