Statements of Financial Position

BDO UNIBANK, INC. AND SUBSIDIARIES

DECEMBER 31, 2023 AND 2022
(Amounts in Millions of Philippine Pesos)
BDO UNIBANK, INC. AND SUBSIDIARIES
STATEMENTS OF FINANCIAL POSITION
DECEMBER 31, 2023 and 2022
(Amounts in Millions of Philippine Pesos)

BDO Unibank Group Parent Bank

Notes 2023 2022 2023 2022

RESOURCES

CASH AND OTHER CASH ITEMS 8 P 94,278 P 82,944 P 91,635 P 80,666

DUE FROM BANGKO SENTRAL NG PILIPINAS 8 335,076 385,779 332,428 382,210

DUE FROM OTHER BANKS - Net 9 85,974 60,455 76,791 51,434

TRADING AND INVESTMENT SECURITIES - Net 10 931,885 722,830 787,691 606,789

LOANS AND OTHER RECEIVABLES - Net 11 2,886,028 2,696,901 2,809,547 2,621,221

PREMISES, FURNITURE, FIXTURES

AND EQUIPMENT - Net 12, 13 48,085 46,471 43,878 42,394

INVESTMENT PROPERTIES - Net 14 46,810 21,158 13,408 13,173

EQUITY INVESTMENTS - Net 15 3,879 5,501 70,832 56,115

OTHER RESOURCES - Net 16 45,646 52,669 36,437 46,321

TOTAL RESOURCES P 4,477,661 P 4,074,708 P 4,262,647 P 3,900,323

LIABILITIES AND EQUITY

DEPOSIT LIABILITIES 18 P 3,567,550 P 3,220,883 P 3,476,867 P 3,141,016

BILLS PAYABLE 19 189,582 198,891 167,988 188,872

INSURANCE CONTRACT LIABILITIES 20 77,210 64,363 - -

OTHER LIABILITIES 21 124,765 129,114 107,595 110,536

Total Liabilities 3,959,107 3,613,251 3,752,450 3,440,424

EQUITY 22
Attributable to:
Shareholders of the Parent Bank 515,916 459,332 510,197 459,899
Non-controlling Interests 2,638 2,125 - -

518,554 461,457 510,197 459,899

TOTAL LIABILITIES AND EQUITY P 4,477,661 P 4,074,708 P 4,262,647 P 3,900,323

See Notes to Financial Statements.

See Notes to Financial Statements.

18
 Statements of Income BDO UNIBANK, INC. AND SUBSIDIARIES
STATEMENTS OF INCOME
BDO UNIBANK, INC. AND SUBSIDIARIES FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021
(Amounts in Millions of Philippine Pesos Except Per Share Data)
FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021
(Amounts in Millions of Philippine Pesos Except Per Share Data)
BDO Unibank Group Parent Bank
Notes 2023 2022 2021 2023 2022 2021

INTEREST INCOME 23 P 240,196 P 169,071 P 144,879 P 226,389 P 158,632 P 136,772

INTEREST EXPENSE 24 53,809 19,839 13,533 51,111 18,728 12,906

NET INTEREST INCOME 186,387 149,232 131,346 175,278 139,904 123,866

IMPAIRMENT LOSSES (RECOVERY) - Net 17

Financial Assets 10, 11, 16 16,421 16,564 16,942 15,665 15,815 16,745
Non-Financial Assets 16 ( 44 ) ( 203 ) 93 ( 44 ) ( 232 ) 56
Others 21 19 5 28 19 5 28

16,396 16,366 17,063 15,640 15,588 16,829

NET INTEREST INCOME

AFTER IMPAIRMENT LOSSES 169,991 132,866 114,283 159,638 124,316 107,037

OTHER OPERATING INCOME 25 84,017 71,535 61,354 57,314 50,129 40,635

OTHER OPERATING EXPENSES 25 156,827 131,208 119,875 128,942 104,119 93,613

PROFIT BEFORE TAX 97,181 73,193 55,762 88,010 70,326 54,059

TAX EXPENSE 31 23,621 15,959 12,907 20,811 13,333 11,378

NET PROFIT P 73,560 P 57,234 P 42,855 P 67,199 P 56,993 P 42,681

Attributable to:
Shareholders of the Parent Bank P 73,411 P 57,054 P 42,791
Non-controlling Interests 149 180 64

P 73,560 P 57,234 P 42,855

Earnings Per Share: 32

Basic P 13.86 P 10.77 P 8.07
Diluted P 13.82 P 10.72 P 8.05

See Notes to Financial Statements.

See Notes to Financial Statements.

19
 Statements of Comprehensive Income
BDO UNIBANK, INC. AND SUBSIDIARIES
FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021
(Amounts in Millions of Philippine Pesos)

BDO Unibank Group Parent Bank

Notes 2023 2022 2021 2023 2022 2021

NET PROFIT P 73,560 P 57,234 P 42,855 P 67,199 P 56,993 P 42,681

OTHER COMPREHENSIVE INCOME (LOSS)

Items that are or will be reclassified subsequently to profit or loss:

Net unrealized gains (losses) on debt investments at fair value through other
comprehensive income (FVOCI), net of tax 10 7,487 ( 17,959 ) ( 5,394 ) 7,459 ( 17,883 ) ( 5,365 )
Transfer of realized losses (gains) on disposed debt investments at FVOCI to
statements of income, net of tax 19 11 ( 275 ) 20 11 ( 275 )
Impairment losses (recoveries) on debt investments at FVOCI 10 108 67 ( 87 ) 108 67 ( 87 )
Net gains (losses) on FVOCI securities, net of tax 7,614 ( 17,881 ) ( 5,756 ) 7,587 ( 17,805 ) ( 5,727 )
Translation adjustment related to foreign operations 16 ( 5) 92 25 ( 10 ) 100

7,630 ( 17,886 ) ( 5,664 ) 7,612 ( 17,815 ) ( 5,627 )

Items that will not be reclassified to profit or loss:

Remeasurement on life insurance reserves ( 4,072 ) 9,620 5,686 ( 4,072 ) 9,620 5,686
Actuarial losses on remeasurement of retirement
benefit obligation, net of tax 26 ( 5,517 ) ( 1,097 ) ( 6,022 ) ( 5,487 ) ( 1,101 ) ( 6,005 )
Reversal of revaluation increment - - 55 - - 55
Unrealized gains (losses) on equity investments at
FVOCI, net of tax 10 160 ( 498 ) 135 160 ( 498 ) 135

( 9,429 ) 8,025 ( 146 ) ( 9,399 ) 8,021 ( 129 )

Other Comprehensive Loss, net of tax ( 1,799 ) ( 9,861 ) ( 5,810 ) ( 1,787 ) ( 9,794 ) ( 5,756 )

TOTAL COMPREHENSIVE INCOME P 71,761 P 47,373 P 37,045 P 65,412 P 47,199 P 36,925

Attributable to:
Shareholders of the Parent Bank P 71,615 P 47,265 P 37,028
Non-controlling Interests 146 108 17

P 71,761 P 47,373 P 37,045

See Notes to Financial Statements.

20
 Statements of Changes in Equity
BDO UNIBANK, INC. AND SUBSIDIARIES
FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021
(Amounts in Millions of Philippine Pesos)
BDO Unibank Group
Accumulated
Net Unrealized Share in Other Total Attributable
Fair Value Accumulated Remeasurement on Accumulated Comprehensive to Shareholders
Additional Treasury Gains (Losses) on Actuarial Revaluation Life Insurance Translation Income (Loss) of the Non-controlling
Notes Common Stock Preferred Stock Paid-in Capital Shares at Cost Surplus Reserves Other Reserves Surplus Free FVOCI Losses Increment Reserves Adjustment of Associates Parent Bank Interests Total Equity

BALANCE AT JANUARY 1, 2023 P 52,641 P 6,180 P 229,946 ( P 1) P 22,131 ( P 76 ) P 178,537 ( P 19,950 ) ( P 17,566 ) P 1,010 P 6,447 P 38 ( P 5) P 459,332 P 2,125 P 461,457

Transactions with owners 22

Issuance of shares during the year 43 - 506 - - - - - - - - - - 549 - 549
Options transferred during the year - - - - ( 359 ) - - - - - - - - ( 359 ) - ( 359 )
Options expensed during the year - - - - 903 - - - - - - - - 903 - 903
Cash dividends - - - - - - ( 16,207 ) - - - - - - ( 16,207 ) - ( 16,207 )

43 - 506 - 544 - ( 16,207 ) - - - - - - ( 15,114 ) - ( 15,114 )

Total comprehensive income (loss) - - - - - - 73,411 7,747 ( 5,482 ) - ( 4,072 ) 16 ( 5) 71,615 146 71,761

Transfer from Surplus Free

Trust reserve 22, 28 - - - - 262 - ( 262 ) - - - - - - ( - ) - ( - )
Appropriation of excess GLLP over ECL - - - - 2,090 - ( 2,090 ) - - - - - - - - -
Other reserves 22 - - - - 27 - ( 27 ) - - - - - - - - -

- - - - 2,379 - ( 2,379 ) - - - - - - ( - ) - ( - )

Disposals of equity securities classified as FVOCI - - - - - - 7 ( 7) - - - - - - - -

Other adjustments
Additional capital contribution to a subsidiary - - - - - 83 - - - - - - - 83 367 450

BALANCE AT DECEMBER 31, 2023 P 52,684 P 6,180 P 230,452 ( P 1) P 25,054 P 7 P 233,369 ( P 12,210 ) ( P 23,048 ) P 1,010 P 2,375 P 54 ( P 10 ) P 515,916 P 2,638 P 518,554
0 0 0 0 0 0 0 0 0 0 0 0 0 0

BALANCE AT JANUARY 1, 2022 P 43,855 P 5,150 P 124,447 P - P 19,930 P 29 P 249,743 ( P 1,630 ) ( P 16,454 ) P 1,010 ( P 3,173 ) P 43 ( P 16 ) P 422,934 P 1,614 P 424,548

Transactions with owners 22

Issuance of shares during the year 13 - 131 - - - - - - - - - - 144 - 144
Options transferred during the year - - - - ( 947 ) - - - - - - - - ( 947 ) - ( 947 )
Options expensed during the year - - - - 294 - - - - - - - - 294 - 294
Stock dividends 8,773 1,030 105,368 ( 1) - - ( 115,171 ) - - - - - - ( 1) - ( 1)
Cash dividends - - - - - - ( 10,252 ) - - - - - - ( 10,252 ) ( 2) ( 10,254 )

8,786 1,030 105,499 ( 1) ( 653 ) - ( 125,423 ) - - - - - - ( 10,762 ) ( 2) ( 10,764 )

Total comprehensive income (loss) - - - - - - 57,054 ( 18,303 ) ( 1,112 ) - 9,620 ( 5) 11 47,265 108 47,373

Transfer from Surplus Free

Trust reserve 22, 28 - - - - 251 - ( 251 ) - - - - - - - - -
Reversal of appropriation - - - - ( 14 ) - 14 - - - - - - - - -
Appropriation of excess GLLP over ECL - - - - 2,475 - ( 2,475 ) - - - - - - - - -
Other reserves 22 - - - - 142 - ( 142 ) - - - - - - - - -

- - - - 2,854 - ( 2,854 ) - - - - - - - - -

Disposals of equity securities classified as FVOCI - - - - - - 17 ( 17 ) - - - - - - - -

Other adjustments
Additional capital contribution to a subsidiary - - - - - ( 105 ) - - - - - - - ( 105 ) 405 300

BALANCE AT DECEMBER 31, 2022 P 52,641 P 6,180 P 229,946 ( P 1) P 22,131 ( P 76 ) P 178,537 ( P 19,950 ) ( P 17,566 ) P 1,010 P 6,447 P 38 ( P 5) P 459,332 P 2,125 P 461,457
- - - - - - - - - - P - -

BALANCE AT JANUARY 1, 2021 P 43,842 P 5,150 P 124,327 P - P 17,964 P 29 P 214,525 P 4,008 ( P 10,459 ) P 955 ( P 8,859 ) ( P 49 ) ( P 10 ) P 391,423 P 1,598 P 393,021

Transactions with owners 22

Issuance of shares during the year 13 - 120 - - - - - - - - - - 133 - 133
Options transferred during the year - - - - 44 - - - - - - - - 44 - 44
Options expensed during the year - - - - 273 - - - - - - - - 273 - 273
Cash dividends - - - - - - ( 5,602 ) - - - - - - ( 5,602 ) ( 1) ( 5,603 )

13 - 120 - 317 - ( 5,602 ) - - - - - - ( 5,152 ) ( 1) ( 5,153 )

Total comprehensive income (loss) - - - - - - 42,791 ( 5,595 ) ( 5,995 ) 55 5,686 92 ( 6) 37,028 17 37,045

Transfer from Surplus Free

Trust reserve 22, 28 - - - - 263 - ( 263 ) - - - - - - - - -
Appropriation of excess GLLP over ECL - - - - 1,337 - ( 1,337 ) - - - - - - - - -
Other reserves 22 - - - - 49 - ( 49 ) - - - - - - - - -

- - - - 1,649 - ( 1,649 ) - - - - - - - - -

Disposals of equity securities classified as FVOCI - - - - - - ( 322 ) ( 43 ) - - - - - ( 365 ) - ( 365 )

BALANCE AT DECEMBER 31, 2021 P 43,855 P 5,150 P 124,447 P - P 19,930 P 29 P 249,743 ( P 1,630 ) ( P 16,454 ) P 1,010 ( P 3,173 ) P 43 ( P 16 ) P 422,934 P 1,614 P 424,548
- - - - - - - - - - P - -
- - - - - - - - - - - -

See Notes to Financial Statements.

21
 Statements of Changes in Equity
BDO UNIBANK, INC. AND SUBSIDIARIES
STATEMENTS OF CHANGES IN EQUITY
BDO UNIBANK, INC. AND SUBSIDIARIES FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021

FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND (Amounts
2021in Millions of Philippine Pesos)
(Amounts in Millions of Philippine Pesos)
Parent Bank
Accumulated Share in
Net Unrealized Other Comprehensive
Fair Value Accumulated Accumulated Income (Loss) of
Additional Treasury Gains (Losses) on Actuarial Revaluation Translation Subsidiaries and
Notes Common Stock Preferred Stock Paid-in Capital Shares at Cost Surplus Reserves Surplus Free FVOCI Losses Increment Adjustment Associates Total Equity

BALANCE AT JANUARY 1, 2023 P 52,641 P 6,180 P 229,927 ( P 1) P 21,001 P 178,300 ( P 12,228 ) ( P 16,902 ) P 1,007 ( P 25 ) ( P 1) P 459,899
Transactions with owners 22
Issuance of shares during the year 43 - 506 - - - - - - - - 549
Options transferred during the year - - - - ( 314 ) - - - - - - ( 314 )
Options expensed during the year - - - - 858 - - - - - - 858
Cash dividends - - - - - ( 16,207 ) - - - - - ( 16,207 )
43 - 506 - 544 ( 16,207 ) - - - - - ( 15,114 )
Total comprehensive income (loss) - - - - - 67,199 3,757 ( 5,145 ) - 28 ( 427 ) 65,412
Transfer from Surplus Free
Trust reserve 22, 28 - - - - 262 ( 262 ) - - - - - -
Appropriation of excess GLLP over ECL - - - - 1,986 ( 1,986 ) - - - - - -
Other reserves 22 - - - - 23 ( 23 ) - - - - - -
- - - - 2,271 ( 2,271 ) - - - - - -
Disposals of equity securities classified as FVOCI - - - - - 7 - - - - ( 7) -

BALANCE AT DECEMBER 31, 2023 P 52,684 P 6,180 P 230,433 ( P 1) P 23,816 P 227,028 ( P 8,471 ) ( P 22,047 ) P 1,007 P 3 ( P 435 ) P 510,197
0 0 0 0 0 0 0 0 0 0 0

BALANCE AT JANUARY 1, 2022 P 43,855 P 5,150 P 124,428 P - P 18,959 P 249,407 ( P 348 ) ( P 15,675 ) P 1,007 P 36 ( P 3,358 ) P 423,461
Transactions with owners 22
Issuance of shares during the year 13 - 131 - - - - - - - - 144
Options transferred during the year - - - - ( 941 ) - - - - - - ( 941 )
Options expensed during the year - - - - 289 - - - - - - 289
Stock dividends 8,773 1,030 105,368 ( 1) - ( 115,171 ) - - - - - ( 1)
Cash dividends - - - - - ( 10,252 ) - - - - - ( 10,252 )
8,786 1,030 105,499 ( 1) ( 652 ) ( 125,423 ) - - - - - ( 10,761 )
Total comprehensive income (loss) - - - - - 56,993 ( 11,873 ) ( 1,227 ) - ( 61 ) 3,367 47,199
Transfer from Surplus Free
Trust reserve 22, 28 - - - - 251 ( 251 ) - - - - - -
Appropriation of excess GLLP over ECL - - - - 2,311 ( 2,311 ) - - - - - -
Other reserves 22 - - - - 132 ( 132 ) - - - - - -
- - - - 2,694 ( 2,694 ) - - - - - -
Disposals of equity securities classified as FVOCI - - - - - 17 ( 7) - - - ( 10 ) -

BALANCE AT DECEMBER 31, 2022 P 52,641 P 6,180 P 229,927 ( P 1) P 21,001 P 178,300 ( P 12,228 ) ( P 16,902 ) P 1,007 ( P 25 ) ( P 1) P 459,899

- - - - - - - - -
BALANCE AT JANUARY 1, 2021 P 43,842 P 5,150 P 124,308 P - P 17,085 P 214,207 P 2,459 ( P 10,012 ) P 952 ( P 14 ) ( P 5,923 ) P 392,054
Transactions with owners 22
Issuance of shares during the year 13 - 120 - - - - - - - - 133
Options transferred during the year - - - - 65 - - - - - - 65
Options expensed during the year - - - - 252 - - - - - - 252
Cash dividends - - - - - ( 5,602 ) - - - - - ( 5,602 )
13 - 120 - 317 ( 5,602 ) - - - - - ( 5,152 )
Total comprehensive income (loss) - - - - - 42,681 ( 2,785 ) ( 5,663 ) 55 50 2,587 36,925
Transfer from Surplus Free
Trust reserve 22, 28 - - - - 263 ( 263 ) - - - - - -
Appropriation of excess GLLP over ECL - - - - 1,250 ( 1,250 ) - - - - - -
Other reserves 22 - - - - 44 ( 44 ) - - - - - -
- - - - 1,557 ( 1,557 ) - - - - - -
Disposals of equity securities classified as FVOCI - - - - - ( 322 ) ( 22 ) - - - ( 22 ) ( 366 )

BALANCE AT DECEMBER 31, 2021 P 43,855 P 5,150 P 124,428 P - P 18,959 P 249,407 ( P 348 ) ( P 15,675 ) P 1,007 P 36 ( P 3,358 ) P 423,461

See Notes to Financial Statements.

See Notes to Financial Statements.

22
 Statements of Cash Flows
BDO UNIBANK, INC. AND SUBSIDIARIES
FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021
(Amounts in Millions of Philippine Pesos)
BDO Unibank Group Parent Bank
Notes 2023 2022 2021 2023 2022 2021

CASH FLOWS FROM OPERATING ACTIVITIES

Profit before tax P 97,181 P 73,193 P 55,762 P 88,010 P 70,326 P 54,059
Adjustments for:
Interest income 23 ( 240,196 ) ( 169,071 ) ( 144,879 ) ( 226,389 ) ( 158,632 ) ( 136,772 )
Interest received 237,732 166,954 147,093 223,260 156,703 140,391
Interest expense 24 53,809 19,839 13,533 51,111 18,728 12,906
Interest paid ( 48,193 ) ( 16,862 ) ( 13,039 ) ( 46,278 ) ( 15,992 ) ( 13,050 )
Impairment losses 10, 11, 15, 16 16,396 16,366 17,063 15,640 15,588 16,829
Depreciation and amortization 12, 14, 15 12,820 9,920 9,198 11,449 8,715 8,035
Gain on acquisition of a subsidiary 30 ( 6,276 ) - - - - -
Share in net profit of subsidiaries and associates 15 ( 1,273 ) ( 849 ) ( 814 ) ( 8,378 ) ( 8,710 ) ( 6,350 )
Fair value losses (gains) ( 588 ) 679 ( 293 ) ( 526 ) 198 ( 221 )
Foreign exchange loss (gain) unrealized 544 ( 15,457 ) ( 7,614 ) 269 ( 13,859 ) ( 6,714 )
Loss (gain) from the disposal of financial assets at fair value
through other comprehensive income (FVOCI) 31 ( 8) ( 278 ) 3 ( 13 ) ( 191 )
Gain from the disposal of investment securities at amortized cost - ( 18 ) ( 156 ) - ( 18 ) ( 108 )
Operating profit before changes in operating resources and liabilities 121,987 84,686 75,576 108,171 73,034 68,814
Decrease (increase) in financial assets at fair value through profit or loss ( 1,910 ) 2,708 ( 10,287 ) ( 2,045 ) ( 1,431 ) 39
Increase in loans and other receivables ( 259,692 ) ( 233,423 ) ( 145,077 ) ( 253,277 ) ( 203,542 ) ( 135,533 )
Increase in investment properties ( 2,237 ) ( 3,864 ) ( 4,291 ) ( 1,613 ) ( 2,599 ) ( 658 )
Increase in other resources ( 24,646 ) ( 19,653 ) ( 13,928 ) ( 19,588 ) ( 16,889 ) ( 9,535 )
Increase in deposit liabilities 343,249 398,047 210,839 332,613 387,387 203,574
Increase in insurance contract liabilities 8,775 8,655 12,604 - - -
Increase in other liabilities 9,153 29,034 15,963 9,724 22,838 13,629
Cash generated from operations 194,679 266,190 141,399 173,985 258,798 140,330
Cash paid for income tax ( 20,076 ) ( 13,640 ) ( 13,213 ) ( 17,358 ) ( 11,242 ) ( 12,140 )

Net Cash From Operating Activities 174,603 252,550 128,186 156,627 247,556 128,190

CASH FLOWS FROM INVESTING ACTIVITIES

Acquisitions of financial assets at FVOCI 10 ( 906,674 ) ( 285,428 ) ( 476,166 ) ( 872,261 ) ( 258,499 ) ( 446,867 )
Proceeds from disposals of financial assets at FVOCI 770,990 279,524 490,264 760,430 259,560 459,718
Acquisitions of investment securities at amortized cost 10 ( 115,310 ) ( 161,048 ) ( 169,502 ) ( 111,216 ) ( 155,379 ) ( 161,191 )
Maturities of investment securities at amortized cost 10 50,174 61,931 68,198 46,673 56,431 60,520
Acquisitions of premises, furniture, fixtures and equipment 12 ( 6,843 ) ( 3,888 ) ( 3,853 ) ( 5,711 ) ( 2,839 ) ( 3,314 )
Net addition to equity investment ( 1,171 ) - - ( 1,171 ) - -
Proceeds from disposals of premises, furniture, fixtures and equipment 111 285 158 39 168 65

Net Cash Used in Investing Activities ( 208,723 ) ( 108,624 ) ( 90,901 ) ( 183,217 ) ( 100,558 ) ( 91,069 )

CASH FLOWS FROM FINANCING ACTIVITIES

Payments of bills payable 19 ( 198,313 ) ( 154,424 ) ( 139,905 ) ( 155,761 ) ( 125,969 ) ( 74,022 )
Proceeds from bills payable 19 187,614 140,241 127,859 134,226 110,080 60,762
Dividends paid 22 ( 16,207 ) ( 10,255 ) ( 5,603 ) ( 16,207 ) ( 10,253 ) ( 5,602 )
Payments of lease liabilities 13 ( 4,370 ) ( 4,192 ) ( 3,238 ) ( 4,097 ) ( 4,032 ) ( 3,100 )
Proceeds from issuance of common stock 22 549 144 133 549 144 133

Net Cash Used in Financing Activities ( 30,727 ) ( 28,486 ) ( 20,754 ) ( 41,290 ) ( 30,030 ) ( 21,829 )

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (Carried Forward) (P 64,847 ) P 115,440 P 16,531 (P 67,880 ) P 116,968 P 15,292

23
 Statements of Cash Flows
BDO UNIBANK, INC. AND SUBSIDIARIES
FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021
(Amounts in Millions of Philippine Pesos)
BDO Unibank Group Parent Bank
Notes 2023 2022 2021 2023 2022 2021

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS ( B rou g h t F orw a rd ) (P 64,847 ) P 115,440 P 16,531 (P 67,880 ) P 116,968 P 15,292

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR

Cash and other cash items 8 82,944 69,105 74,851 80,666 66,440 72,301
Due from Bangko Sentral ng Pilipinas (BSP) 8 385,779 304,906 308,636 382,210 302,660 305,079
Due from other banks 9 58,766 70,092 65,289 51,055 64,349 63,281
Investment securities at amortized cost 10 - - 164 - - 164
Reverse repurchase agreements 11 26,305 17,095 16,729 26,091 15,800 14,135
Interbank loans receivables 11 98,942 81,083 57,100 102,293 81,083 57,100
Foreign currency notes and coins (FCNC) 16 10,582 5,597 8,578 10,582 5,597 8,577

663,318 547,878 531,347 652,897 535,929 520,637

CASH AND CASH EQUIVALENTS AT END OF YEAR

Cash and other cash items 8 94,278 82,944 69,105 91,635 80,666 66,440
Due from BSP 8 335,076 385,779 304,906 332,428 382,210 302,660
Due from other banks 9 84,678 58,766 70,092 76,567 51,055 64,349
Investment securities at amortized cost 10 1,163 - - 709 - -
Reverse repurchase agreements 11 25,370 26,305 17,095 24,970 26,091 15,800
Interbank loans receivables 11 48,920 98,942 81,083 49,722 102,293 81,083
FCNC 16 8,986 10,582 5,597 8,986 10,582 5,597

P 598,471 P 663,318 P 547,878 P 585,017 P 652,897 P 535,929

Supplemental Information on Noncash Financing and Investing Activities

The following are the significant noncash transactions:

a. The BDO Unibank Group and the Parent Bank acquired real and other properties totalling to P3,502 and P3,445, respectively, in 2023, P8,333 and P8,230, respectively, in 2022, and P4,403 and P4,361, respectively, in 2021 in settlement of certain loan accounts
(see Note 14).

b. The BDO Unibank Group and the Parent Bank recognized additional right-of-use assets amounting to P3,716 and P3,309, respectively, in 2023, P4,683 and P4,414, respectively, in 2022, and P3,216 and P2,951, respectively, in 2021 which are presented as part of Premises,
Furnitures, Fixtures and Equipment (see Notes 12 and 13).

Other Information
Certain investment securities at amortized cost, reverse repurchase agreements, interbank loans receivables, and FCNC are included as part of cash and cash equivalents for cash flow purposes but are presented as part of Trading and Investment Securities, Loans and Other
Receivables, and Other Resources, respectively, in the statements of financial position (see Note 2.4). Margin deposits presented as part of Due from Other Banks is excluded from cash and cash equivalents for cash flow purposes (see Note 9).

See Notes to Financial Statements.

24