MANILA, Philippines -- Lender Banco de Oro said Tuesday it was setting aside provisions totaling P3.8 billion ($80.7 million) over its exposure to collapsed US investment bank Lehman Brothers.

"Due to the uncertainty relating to the financial condition of Lehman Brothers, Banco de Oro Unibank Inc. is setting aside provisions totaling P3.8 billion to cover its exposure to said entity," it said in a disclosure to the Philippine Stock Exchange.

"The provisions will come from reallocation of excess reserves and from additional provisions in the current period," it said, adding that the balance sheet should be "adequately covered from potential losses arising from its Lehman exposure."

The bank, the Philippines' second largest, said that despite these provisions, it still expected to post a "reasonable net income for the year."

Banco de Oro shares were down 16.7 percent at P32.50, while rival Bank of the Philippine Islands fell 7.0 percent to P40 and Metropolitan Bank dropped 8.1 percent to P34.