Philippine Commercial International Bank

November 5, 1998 PSE CIRCULAR FOR BROKERS NO. 2525-98 SUBJECT : Philippine Commercial International Bank Philippine Commercial International Bank ("PCI") furnished the Exchange CB Form Q-2-3-01 (Quarterly Report For the Quarter Ended September 30, 1998), which confirmed PCI's net income of P298.9 million for the quarter ended September 30, 1998 as reported in the news article published in the November 4, 1998 issue of the Manila Times. A copy of the said document is available for reference at the PSE Library. For your information. (SGD.) RAFAEL L. LLAVES Chief Operating Officer SEC Number __________ File Number ___________ Philippine Commercial International Bank (Company's Full Name) H . V . dela Costa cor . Makati Ave ., Makati City (Company's Address) 817-2556 or 840-7000 (Telephone Number) September 30, 1998 (Fiscal Year Ending) (month & day) CB Form Q-2-3-01 Form Type ____________________ Amendment Designation (If applicable) June 30, 1998 Period Ended Date ____________________ (Secondary License Type and File Number) Instructions for the use of MMOD FORM 1-CF-85-2 1. This form is to be used only as a guide by financial intermediaries authorized to engage in quasi-banking function and whose CPs are exempt under Sec. 8(a) of the New Rules on Registration of Long Term Commercial Papers. 2. Do not leave any item blank. Write "N/A" if information required is not applicable. 3. Submit in four (4) copies to the Money Market Operations Department, 6th Floor, SEC Building, EDSA near Ortigas, Mandaluyong, Metro Manila, and one (1) copy to the Supervision and Examination Sector, Department IV, Central Bank of the Philippines. 4. Deadline for submission: Within ( ) working days following the end of the immediately preceding quarter. MMOD FORM Q-CF-95-2 Quarterly Cashflow Statement For the quarter ended September 30, 1998 Name of Company: PHILIPPINE COMMERCIAL INTERNATIONAL BANK Address: #1 PCIBank Tower cor. H.V. dela Costa St., Makati Ave., Makati City Tel. No.: 8172556 Industry Classification: Banking Cash: Beginning of quarter P2,228,337 Add: 1) Receipts from operations 4,256,150 2) Deposit Liabilities 7,029,666 3) Deposit Substitute Liabilities N/A 4) Proceeds from sale of investment (Specify) N/A 5) Collection on stock subscription N/A 6) Advances from related companies N/A 7) Other Sources (Specify) Increase in AR & N/A Other Assets 5,288,515 Total Cash P18,802,668 Less: Disbursements 1) Operating Expenses 3,957,216 2) Deposit Liabilities 0 3) Deposit Substitute Liabilities N/A 4) Accounts Payable 9,139 5) Bills Payable N/A 6) Investments N/A 7) Acquisition of fixed assets N/A 8) Others (Specify) Increase in AP & Other Liabilities 12,648,299 Total Cash Disbursements 16,614,654 Cash: End of quarter P2,188,014 MMOD FORM M-1-3-01(P. 4) I HEREBY CERTIFY that all the information set forth in the above report are true of my own knowledge. (SGD.) JOSEPHINE R. AMARANTO/SM To be signed by any of the following officers pursuant to a Board Resolution previously filed with the Commission. 1. Chief Operating Officer 2. Chief Financial Officer 3. Comptroller or Treasurer REPUBLIC OF THE PHILIPPINES IN THE CITY (MAKATI CITY) SUBSCRIBED AND SWORN TO before me this 29th of October, 1998, the above affiant exhibiting to me his/her Residence Certificate No. CC1199707074922 issued at LAS PIAS on April 08, 1998. Doc. No. 268 Page No. 54 Book No. XIX Series of 1998. Instructions for the use of MB Form Q-2-3-01 1. This form is to be used only as a guide by the issuers of exempt commercial papers under Sec. 5 of the New Rules on Registration of Short Term Commercial Papers and under Sec. 8 (a) of the New Rules on Registration of Long Term Commercial Papers. 2. Do not leave any item blank. Write "N/A" if information required is not applicable. 3. Submit in four (4) copies to the Money Market Operations Dept. 6th Floor, EDSA near Ortigas Mandaluyong, Metro Manila, and one (1) copy to the Supervision and Examination Sector, Dept. IV, Central Bank of the Philippines. LLphil 4. Deadline for submission: Within thirty (30) calendar days after immediately preceding reference quarter. CB Form Q-2-3-01 Quarterly Report For the Quarter ended September 30, 1998 PHILIPPINE COMMERCIAL INTERNATIONAL BANK (Name of Financial Intermediaries) Ranking/840-7000/8172556 (Business and Telephone No.) I. Quarterly Business Profile: a) Change in the composition of the Board/Principal Officers as indicated in the Information Statement. b) Change in the top 20 Stockholders. c) Subsidiaries/affiliates relationships or new holding. d) Change in the stockholding of Directors. II. Quarterly Financial Profile: Attach copy of unaudited Balance Sheet and Income Statement as of the quarter certified under oath by any of the following officers: 1) Chief operating Officer 2) Chief Financial Officer 3) Comptroller of Treasurer MMOD FORM Q-CF-85-2 I hereby certify that all the information set forth in the above report are true and correct of my own knowledge. (SGD.) JOSEPHINE R. AMARANTO /SENIOR MGR./REPORTS DIV. REPUBLIC OF THE PHILIPPINES ) IN THE CITY OF ) S. S. SUBSCRIBED AND SWORN TO before me this 29th day of October, 1998, the above affiant exhibiting to me her Community Tax Certificate No. 0011997 07074922, issued at City of Muntinlupa on April 18, 1998. Doc. No. 269; Page No. 54; Book No. XIX; Series No. 1998; * To be signed by any of the following officers pursuant to a Board Resolution previously filed with the Commission. 1. Chief Operating Officer 2. Chief Financial Officer 3. Comptroller of Treasurer PHILIPPINE COMMERCIAL INTERNATIONAL BANK CONSOLIDATED STATEMENT OF CONDITION September 30, 1998 (in Thousand Pesos) RESOURCES Cash and Other Cash Items P2,188,014 Due from Bangko Sentral ng Pilipinas 655,857 Due from Other Banks 10,080,404 Interbank Loans Receivable 13,086,269 Trading Account Securities (Net) 2,952,411 Investments in Bonds and Other Debt Instruments 16,035,898 Receivables from Customers net 84,457,226 Bank Premises, Including Leasehold Improvements, and Furniture and Equipment net 5,343,579 Equity Investments 1,167,004 Real and Other Properties Owned or Acquired net 678,108 Other Resources net 14,370,126 P151,014,896 ============ LIABILITIES AND CAPITAL FUNDS Deposit Liabilities Demand P5,417,016 Savings 49,032,531 Time 35,331,846 P39,781,393 Bills and Acceptances Payable 17,446,329 Marginal Deposits 150,013 Manager's and Treasurer's Checks 2,167,637 Accrued Taxes, Interest and Other Expenses 1,288,717 Unearned Income and Other Deferred Credits 1,250,413 Other Liabilities 14,699,108 126,783,610 Minority Interest 930,997 Capital Funds 23,300,289 P151,014,896 ============ PHILIPPINE COMMERCIAL INTERNATIONAL BANK CONDENSED STATEMENT OF INCOME AND EXPENSES For the Quarter Ended September 30, 1998 (In Thousand Pesos) INTEREST INCOME P3,334,754 Loans 3,131,070 Investment and deposits with banks 203,684 OTHER INCOME 921,396 Bank Commission/service charges/fees 529,156 Others 392,240 TOTAL OPERATING INCOME P4,256,150 INTEREST EXPENSES P1,525,473 OTHER OPERATING EXPENSES 2,415,418 Compensation/fringe benefits 630,185 Taxes and licenses 246,082 Other Expenses 1,539,151 TOTAL OPERATING EXPENSES 3,940,891 Minority Interest in Earnings of Subsidiaries 16,325 NET INCOME P298,934 ========= (SGD.) REBECCA S. TORRES First Vice President PHILIPPINE COMMERCIAL INTERNATIONAL BANK BOARD OF DIRECTORS AS OF SEPTEMBER 30, 1998 Name Position Held No. of Shares % to total common shares (152,246,166.40) Eugenio Lopez, Jr. Chairman 338 .0002220 John Gokongwei, Jr. Vice-Chairman 5 .0000032 Rafael B. Buenaventura Director 1 .0000006 Robert Coyluto, Jr. Director 82 .0000538 William Gatchalian Director 599,727 .3939192 Lance Gokongwei Director 3 .0000019 Johnson Robert Go Director 1,030 .0006765 Augusto Almeda Lopez Director 31 .0000203 Manuel M. Lopez Director 1 .0000006 Renato B. Magadia Director 66 .0000433 Ferdinand Martin G. Romualdez Director 33 .0000216 PHIL. COMMERCIAL INT'L. BANK List of Top 20 Stockholders (COMMON) September 30, 1998 Rank Shareholder # Name/Address NAT CLASS Number of Shares Percent 1 300118933 PCD MOBINEE CORPORATION FOR A 37,863,236.00 24.86974 HSE BLDG., AYALA AVE., MAKATI CITY 2 300075614 BENPRES HOLDINGS CORPORATION FIL A 27,006,149.00 17.73047 5TH FLR., CHRONICLE BLDG. TEKTITE ROAD, PASIG, METRO MANILA 3 300075975 CONSOLIDATED ROBINA CAPITAL FIL A 25,346,416.00 16.64831 CORPORATION C/O L. GOKONGWEI, 29/F GALLERIA CORP. CENTER ORTIGAS CENTER, PASIG CITY 4 300078249 TRANS MIDDLE EAST PHILIPPINES FIL A 15,975,880.00 10.493455 EQUITIES, INC. 3/F UNIVERSAL REINSURANCE BLDG. PASEO DE ROXAS, MAKATI, METRO MANILA 5 300077293 MERALCO PENSION FUND FIL A 11,412,463.00 7.496059 LOPEZ BUILDING, ORTIGAS AVENUE PASIG, METRO MANILA 6 300077994 SHRIMPLES INTERNATIONAL CORP. FIL A 7,572,132.00 4.973611 22F CITIBANK TOWER PASEO DE ROXAS MAKATI CITY 7 300076858 INTERNATIONAL POLTRER CORP. FIL A 5,160,847.00 3.389804 22/F CITIBANK TOWER, 8741 P. DE ROXAS MAKATI CITY 8 300077544 PACIFIC AQUAVENTURES CORP. FIL A 4,766,488.00 3.130777 1 SANTIAGO ST., CAMURAT VALENZUELA METRO MANILA 9 300119026 PCD NORTNEE CORPORATION FIL A 2,473,143.00 1.624437 HSE BLDG. AYALA AVE., MAKATI CITY 10 300116299 SOLID FINANCE HOLDINGS LTD. FOR A 2,405,790.00 1.580197 29/F GALLERIA CORP. CENTER, COR. EDSA & ORTIGAS, QUEZON CITY 11 300117368 SOLID FINANCE HOLDINGS LTD. VAN A 1,188,500.00 0.780644 C/O JOHN GOKONGWEI, JR., 29/F GALLERIA CORP. CENTER, COR. EDSA & ORTIGAS, QUEZON CITY 12 300116248 SOLID FINANCE HOLDINGS LTD. FIL A 699,950.00 0.459749 12/F SOLIDBANK BLDG. PASEO DE ROXAS, MAKATI CITY MMOD FORM Q-CF-85-2 PHILIPPINE COMMERCIAL INTERNATIONAL BANK #1 PCIBank Tower cor. H.V. dela Costa Sts. and Makati Avenue, Makati City Tel. No. 8172556 Industry Classification: Banking Comparative Cash Flow Statement For the quarter As of SEPTEMBER SEPTEMBER JAN. TO SEPT. JAN. TO SEPT. 1998 1997 1998 1997 Cash: Beginning of the quarter/year P2,228,337 1,963,252 3,633,349 2,909,8 Add: 1) Receipts from operations 4,256,150 4,671,422 13,725,936 12,715,8 2) Deposit Liabilities 7,029,666 19,705,961 7,029,666 24,858,6 3) Deposit Substitute Liabilities N/A N/A N/A N/A 4) Proceeds from sale of Investment (Specify) N/A N/A N/A N/A 5) Collection on stock subscription N/A 10,815 356,650 726,9 6) Advances from related companies N/A N/A N/A N/A 7) Other Sources 5,288,515 24,413,170 18,936,872 33,443,4 Total Cash P18,802,668 50,764,620 43,732,473 74,654,6 Less: Disbursements 1) Receipts from operations 3,957,216 3,942,141 11,981,870 10,235,6 2) Deposit Liabilities N/A N/A 8,360,181 5,119,2 3) Deposit Substitute Liabilities N/A N/A N/A N/A 4) Accounts Payable 9,139 75,976 89,575 770,0 5) Bills Payable N/A N/A N/A N/A 6) Investments N/A N/A N/A N/A 7) Acquisition of fixed assets N/A N/A N/A N/A 8) Other Sources 12,648,299 44,471,873 21,112,833 56,255,1 Total Cash Disbursements 16,614,654 48,489,990 41,544,459 72,380,0 Cash: End of quarter/year P2,188,014 2,274,630 2,188,014 2,274,6 ========= ========= ========= ======== November 04, 1998 THE PHILIPPINE STOCK EXCHANGE, INC. Attn: MS. GRACE DE GUIA &/OR MS. LUISA BUENAVENTURA Gentlemen : We confirm the information we relayed to your Ms. De Guia that the earnings of P136.287 Million of the Bank for the third quarter ending September 30, 1998 is correct and that we are not the source of the data that supposedly appeared in the Manila Times today. It could be that the figures were taken from the Bangko Sentral ng Pilipinas based on the attached report (CBP 7-16-04) submitted by our Accounting Department on October 29, 1998. LLpr Thank you and God bless. Very truly yours, (SGD.) ARSENIO L. LIM, JR. Vice-President & Corporate Secretary CHINA BANKING CORPORATION CONSOLIDATED Paseo de Roxas cor. Villar Sts., Makati, M.M. For the Quarter/Year Ended 1st SEPTEMBER 30, 1998 (In Thousand Pesos) RECORD CB CIR. 343/547 ACCOUNTS NO. (IN US $) AMOUNT A. TOTAL OPERATING INCOME 010 9,905 1,921,950 a. Interest Income 020 9,630 1,777,777 1. Interest Interbank Loans Receivable 021 482 24,579 2. Interest Loans & Discounts 022 3,321 1,407,794 3. Interest Investments 023 6,200 251,639 4. Interest Deposits in Banks 024 627 30,035 5. Interest Due from Central Bank of the Phil. 025 7,580 6. Interest Trading Account Securities 026 53,335 7. Interest Others 027 2,815 b. Bank Commissions 030 17,323 c. Service Charges/Fees 040 77,441 d. Fees/Commissions Others 050 12 e. Trading Gain/(Loss) 060 7,369 f. Foreign Exchange Profit/(Loss) 070 42 (35,106) g. Gold Trading Gain/(Loss) 080 0 h. Income Trust Department 090 48,305 i. Other Income 100 233 28,829 B. TOTAL OPERATING EXPENSES 110 7,755 1,846,455 a. Interest Expense 120 7,482 1,058,283 1. Interest Deposits 121 7,392 921,413 2. Interest Borrowed Funds 122 133,848 3. Interest Bonds Payable (EXB only) 123 0 4. Interest Others 124 70 3,022 CHINA BANKING CORPORATION (Name of Bank/Branch) (Code) Paseo de Roxas cor. Villar St . , Makati, MM (Address) CONSOLIDATED STATEMENT OF INCOME EXPENSES AND SURPLUS (FREE) For the Quarter /Year Ended SEPTEMBER 30, 1998 REPUBLIC OF THE PHILIPPINES ) MUNICIPALITY OF MAKATI ) S.S. I solemnly swear that all matters set forth in this report are true and correct, to the best of my knowledge and belief. (SGD.) RICARDO R. CHUA Executive Vice President and Chief Operating Officer SUBSCRIBED AND SWORN TO BEFORE ME this 27th day of October, 1998, affiance exhibiting to me his Community Certificate No. 7804434 issued at Makati on March 03, 1998. BELENETTE Y. CHING TAN Notary Public Until December 31, 1998 PTR No. TIN 153-962-566 Doc. No. 88 Page No. 19 Book No. 9 Series of 1998. SES I FORM 31 (CBP 7-16-04) Revised 1989 b. Finance Charges 130 83,952 c. Compensation/Fringe Benefits 140 190,365 d. Management & Other Professional Fees 150 1,013 e. Supervision & Examination Fees 160 11,742 f. Fines, Penalties & Other Charges 170 35 g. Taxes & Licenses 180 81,592 h. Insurance 190 22,334 i. Depreciation/Amortization 200 37,939 j. Litigation/Assets Acquired Expenses 210 40,275 k. Bad Debts Expenses 220 0 l. Other Expenses 230 293 148,043 m. Provisions 2* 240 0 170,882 C. NET OPERATING INCOME/(LOSS) 250 2,150 75,495 D. EXTRAORDINARY CREDITS/(CHARGES) 260 0 9,626 a. Recovery on Charged-off Assets 261 51 b. Income from Assets Acquired 262 2,343 c. Profits/(Losses) from Assets Sold/Exchanged 263 4,841 d. Dividends-Equity Investments 364 0 e. Revaluation Profits/(Losses) 265 0 f. Profits/(Losses) on FX Swap Contracts Differential 266 0 g. Others 267 2,391 E. NET INCOME/(LOSS) BEFORE INCOME TAX 270 2,150 85,124 F. PROVISIONS FOR INCOME TAX 280 49 (51,163) G. NET INCOME/(LOSS) AFTER INCOME TAX 290 2,101 136,287 1* Report for the quarter ended March 31 shall cover the period January, 01 to March 31; for the quarter ended June 30 shall cover the period April 01 to June 30; for the quarter ended September 30 shall cover the period July 01 to September 30; and for the year ended Dec. 31 shall cover the period January 01 to December 31. 2* Excluding provision for income tax. N.B. Head Officers of commercial banks and specialized government banks shall furnish their banking units with the appropriate reporting forms. DBC I/II FORM 3A Revised 1996 CHINA BANKING CORPORATION 070 Paseo de Roxas cor. Villar St., Makati City Consolidated Statement of Income, Expenses and Surplus (Free) CONTROL PROOFLIST For the Quarter/Year Ended 1st SEPTEMBER 30, 1998 (In Thousands) RECORD TOTAL ACCOUNTS NO. AMOUNT A. TOTAL OPERATING INCOME 010 1,921,950 B. TOTAL OPERATING EXPENSES 110 1,846,455 C. NET OPERATING INCOME/(LOSS) 250 75,495 D. EXTRAORDINARY CREDITS/(CHARGES) 260 9,626 E. NET INCOME/(LOSS) BEFORE INCOME TAX 270 85,124 F. PROVISION FOR INCOME TAX 280 (51,163) G. NET INCOME/(LOSS) AFTER INCOME TAX 290 134,287 CHINA BANKING CORPORATION CONSOLIDATED Paseo de Roxas cor. Villar St., Makati, M.M. For the Quarter/Year Ended 1st SEPTEMBER 30, 1998 (In Thousands) SES I - FORM 3A CBP 7-16-04 Revised 1996 RECORD CB CIR. 343/547 ACCOUNTS NO. (IN US $) AMOUNT A. TOTAL OPERATING INCOME 010 9,905 1,921,950 a. Interest Income 020 9,630 1,777,777 1. Interest Interbank Loans Receivable 021 482 24,579 2. Interest Loans & Discounts 022 3,321 1,407,794 3. Interest Investments 023 5,200 251,639 4. Interest Deposits in Banks 024 627 30,035 5. Interest Due from Central Bank of the Phil. 025 7,580 6. Interest Trading Account Securities 026 53,335 7. Interest Others 027 2,815 b. Bank Commissions 030 17,323 c. Service Charges/Fees 040 77,441 d. Fees/Commissions Others 050 12 e. Trading Gain/(Loss) 060 7,369 f. Foreign Exchange Profit/(Loss) 070 42 (35,106) g. Gold Trading Gain/(Loss) 080 0 h. Income Trust Department 090 48,305 i. Other Income 100 233 28,829 B. TOTAL OPERATING EXPENSES 110 7,755 1,846,455 a. Interest Expenses 120 7,462 1,056,263 1. Interest Deposits 121 7,392 921,413 2. Interest Borrowed Funds 122 133,848 3. Interest Bonds Payable (EXB only) 123 0 4. Interest Others 124 70 3,022