18 CONSOLIDATED FINANCIAL STATEMENTS                  
  Commercial Banks
  as of end of periods indicated
  in billion pesos
 
Selected Accounts COMMERCIAL BANKS
               
  March 1999 June 1999 Sept 1999 Dec 1999 March 2000 June 2000 Sept 2000 Dec 2000
CONSOLIDATED STATEMENT OF INCOME AND EXPENSE
 
TOTAL OPERATING INCOME 7.031 13.750 19.324 23.839 6.354 12.989 19.692 27.836
NET INTEREST INCOME 4.197 8.761 12.595 16.110 4.180 8.640 13.030 18.150
   INTEREST INCOME 10.966 22.119 31.276 39.408 10.243 22.562 34.779 49.981
   INTEREST EXPENSE 6.769 13.357 18.682 23.298 6.063 13.922 21.749 31.831
NON-INTEREST INCOME 2.834 4.989 6.729 7.730 2.174 4.349 6.662 9.687
   FEE BASED INCOME 1.084 2.158 2.998 3.779 0.912 1.906 2.904 4.125
   TRADING INCOME 1.239 2.114 2.560 2.729 0.996 1.680 2.504 3.621
   TRUST DEPARTMENT INCOME 0.113 0.193 0.283 0.380 0.093 0.178 0.269 0.365
   OTHER INCOME 0.398 0.523 0.887 0.842 0.173 0.585 0.985 1.576
TOTAL OPERATING EXPENSES 6.183 11.943 17.525 23.931 4.874 10.691 17.040 24.218
   BAD DEBTS WRITTEN OFF 0.533 0.752 0.893 0.700 0.036 0.093 0.145 0.002
   PROVISIONS FOR PROBABLE LOSSES 0.902 1.736 2.739 5.309 0.354 0.810 2.049 3.270
   OTHER OPERATING EXPENSES 4.747 9.455 13.893 17.922 4.484 9.788 14.846 20.946
      Overhead costs 3.000 5.816 8.444 10.842 2.784 6.224 8.795 12.240
      Other expenses 1.747 3.639 5.449 7.079 1.700 3.564 6.051 8.706
NET OPERATING INCOME / (LOSS) 0.848 1.807 1.799 (0.091) 1.480 2.298 2.652 3.618
EXTRAORDINARY CREDITS / (CHARGES) 0.358 0.330 0.393 0.488 0.091 0.218 0.197 0.407
NET INCOME/(LOSS) BEFORE TAX 1.206 2.137 2.192 0.397 1.571 2.516 2.849 4.025
PROVISIONS FOR INCOME TAX 0.408 0.403 0.752 1.009 0.466 0.740 1.017 1.024
NET INCOME/(LOSS) AFTER TAX 0.798 1.734 1.439 (0.612) 1.105 1.776 1.832 3.001
 
Note: Presented data are based on financial statements periodically submitted by banks in accordance with existing regulations.
Said submissions are processed and aggregated to derive industry results.  For unsubmitted and/or defective bank reports
for the period, the most recent processed report available is used as proxy in the generation of said industry aggregates.
Details may not add up to totals due to rounding.
Source: Bangko Sentral ng Pilipinas