SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-Q

QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIES
REGULATION CODE AND SRC RULE 17(2)(b) THEREUNDER

1. For the quarterly period ended

Mar 31, 2022

2. SEC Identification Number

24221

3. BIR Tax Identification No.

000-440-440-00

4. Exact name of issuer as specified in its charter

Bank of Commerce

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

Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

San Miguel Properties Center Bldg. #7 St. Francis Street Ortigas Center Mandaluyong Postal Code 1550

8. Issuer's telephone number, including area code

(632) 982-6000

9. Former name or former address, and former fiscal year, if changed since last report

-

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Stocks	1,403,013,920

11. Are any or all of registrant's securities listed on a Stock Exchange?

Yes

No

If yes, state the name of such stock exchange and the classes of securities listed therein:

The Philippine Stock Exchange, Inc: Common Shares

12. Indicate by check mark whether the registrant:

(a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17 thereunder or Sections 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of the Corporation Code of the Philippines, during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports)

Yes

No

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

Yes

No

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Bank of CommerceBNCOM

PSE Disclosure Form 17-2 - Quarterly Report References: SRC Rule 17 and
Sections 17.2 and 17.8 of the Revised Disclosure Rules

For the period ended	Mar 31, 2022
Currency (indicate units, if applicable)	PHP (in millions)

Balance Sheet

	Period Ended	Fiscal Year Ended (Audited)
	Mar 31, 2022	Dec 31, 2021
Current Assets	113,382	110,944
Total Assets	206,385	199,713
Current Liabilities	173,625	169,465
Total Liabilities	179,699	176,350
Retained Earnings/(Deficit)	1,102	852
Stockholders' Equity	26,686	23,363
Stockholders' Equity - Parent	26,686	23,363
Book Value per Share	15.17	16

Income Statement

	Current Year (3 Months)	Previous Year (3 Months)	Current Year-To-Date	Previous Year-To-Date
Gross Revenue	1,739	1,519	1,739	1,519
Gross Expense	1,246	1,281	1,246	1,281
Non-Operating Income	-	-	-	-
Non-Operating Expense	-	-	-	-
Income/(Loss) Before Tax	493	237	493	237
Income Tax Expense	133	91	133	91
Net Income/(Loss) After Tax	361	146	361	146
Net Income Attributable to Parent Equity Holder	361	146	361	146
Earnings/(Loss) Per Share (Basic)	0.29	0.13	0.29	0.13
Earnings/(Loss) Per Share (Diluted)	0.23	0.13	0.23	0.13

	Current Year (Trailing 12 months)	Previous Year (Trailing 12 months)
Earnings/(Loss) Per Share (Basic)	-	-
Earnings/(Loss) Per Share (Diluted)	-	-

Other Relevant Information

We submit herewith the Amended March 31, 2022 SEC 17-Q with report of Independent Auditors of Bank of Commerce. The following are the revisions/ additions made in the Notes to FS: 1. Note 1 - The “amended” unaudited condensed interim financial statements of the Bank were approved and authorized for issue by the BOD on May 31, 2022. 2. Note 4 - It is noteworthy that expected credit loss (ECL) methodology of the Bank was optimized during the last quarter of 2021 to recalibrate and improve the accuracy of the ECL models using updated data. Hence, the ECL for the quarter ended March 31, 2021 was calculated using the model before the optimization was put in place. 3. Note 7 – March 31, 2022 Capital expenditures from P15M to P17M 4. Note 11 – No investment securities at amortized cost were sold before maturity in 2022 and 2021. 5. Note 14 – Margin deposits refers to deposits corresponding to negotiations on letters of credit evidenced by import bills and/or trust receipts. 6. Note 15 – a) On March 31, 2022, the Bank listed its common shares with the PSE. The Bank offered and issued new common shares to the public up to 280,602,800 at P12.0 per share. b) Of this amount, P44.7 million is accrued as of March 31, 2022.