Philippine National Bank and Subsidiarie

Statement of Condition

2003 2004

RESOURCES
Cash and other Cash Items 3,205,026 3,342,466
Due From Banko Central ng Pilipinas 1,115,502 3,765,737
due from other Banks 5,142,524 6,092,449
Interbank Loans Receivables 13,742,241 18,882,242
Securities Held Under Agreements to Resell 5,400,000 4,000,000
LOSS
Trading Account Securities, at Fair Market Value 965,899 712,229
Available-for-Sale Investments, at fair value
Held-to Maturity Investments
Investment Securities - net 44,998,375 60,930,559
Loans and Recievables
Receivables from Customers - net 58,205,304 54,002,036
Bank Premises, Furniture and Equipment 607,687 633,584
Bank Premises, at Appraisal Value- net 14,812,915 14,669,857
Investments in Subsidiaries and Associates 6,737,815 5,509,803
Real and Other Properties Owned or Acquired 24,881,999 27,989,395
Other Resources 19,698,885 17,965,720
199,514,172 218,496,077

LIABILITIES AND CAPITAL FUNDS

Liabilities
Deposit Liablities (Note 12)
Demand 13,223,617 14,433,937
Savings 106,571,865 119,997,438
Time 28,495,616 28,548,468
148,291,098 162,979,843
Bills and Acceptances Payable 11,930,114 12,895,473
Due to Banko Sentral ng Pilipinas 178,064 103,326
Margin Deposits and Cash Letters of Credit 202,189 137,991
Manager's Check and Demand Drafts Outstanding 632,591 477,893
Accrued Taxes, Interest and Other Expenses 8,193,949 6,076,517
Subordinated Debt 3,000,000
Other Liabilities 5,479,731 8,740,575
174,907,736 194,411,618
Capital Funds
Preferred Stock 7,807,018 7,807,018
Common Stock 15,122,819 15,122,819
Capital paid in excess of par value 545,745 545,745
Surplus reserves 445,146 481,694
Deficit (1,834,191) (1,173,317)
Revaluation Increment on Land and Buildings 1,899,483 1,439,328
Accumulated Translation Adjustment 433,702
Net Unrealized gain on available- for-sale securities 186,714 (138,828)
24,606,436 24,084,459
199,514,172 218,496,077
ank and Subsidiaries
of Condition

2005

5,765,899 1.61 1.53 2.60

3,719,362 0.56 1.72 1.68
5,098,751 2.58 2.79 2.30
16,881,081 6.89 8.64 7.61
12,300,000 2.71 1.83 5.54
512,091 0.23
0.48 0.33
38,084,187 17.16
5,091,685 2.29
22.55 27.89
77,554,727 34.95
29.17 24.72
700,345 0.30 0.29 0.32
14,536,391 7.42 6.71 6.55
5,500,591 3.38 2.52 2.48
26,765,021 12.47 12.81 12.06
9,394,360 9.87 8.22 4.23
221,904,491 100.00 100.00 100.00

15,698,886 6.63 6.61 7.07

127,657,683 53.42 54.92 57.53
26,739,311 14.28 13.07 12.05
170,095,880
12,443,283 5.98 5.90 5.61
115,704 0.09 0.05 0.05
69,527 0.10 0.06 0.03
472,805 0.32 0.22 0.21
4,795,600 4.11 2.78 2.16
2,958,437 1.37 1.33
9,658,377 2.75 4.00 4.35
200,609,613

7,807,018 3.91 3.57 3.52

15,122,819 7.58 6.92 6.82
545,745 0.27 0.25 0.25
495,118 0.22 0.22 0.22
 (4,926,731) -0.92 -0.54 -2.22
1,480,301 0.95 0.66 0.67
0.22
770,608 0.09 0.35
21,294,878 100.00 100.06 100.00
221,904,491