27   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES 
            Thrift Banking System
          for the periods indicated
          in billion pesos
Selected Accounts   TOTAL THRIFT BANKS
1999 2000  
1st 2nd 3rd 4th 1st 2nd 3rd 4th  
  Quarter Quarter Quarter Quarter   Quarter Quarter Quarter Quarter  
OPERATING INCOME   2.692 6.196 9.632 12.381   3.038 6.177 9.279 12.045  
       Net Interest Income   1.866 4.329 6.696 8.846   2.149 4.388 6.731 8.629  
   
            Interest Income   5.986 12.208 18.049 22.655   4.991 9.992 15.262 20.894  
            Less: Interest Expense   4.120 7.879 11.353 13.809   2.842 5.604 8.531 12.265  
     
       Non-Interest Income   0.826 1.867 2.935 3.535   0.889 1.789 2.548 3.416  
                         
           Fee-based Income   0.450 0.831 1.320 1.691   0.399 0.832 1.250 1.704  
           Trading Income/(Loss)   0.050 0.166 0.296 0.176   0.103 0.218 0.309 0.416  
           Trust Department Income   0.009 0.039 0.066 0.078   0.011 0.022 0.040 0.056  
           Other Income/(Loss)   0.317 0.831 1.254 1.590   0.376 0.717 0.949 1.240  
     
  OPERATING EXPENSES   3.200 6.715 10.589 14.247   3.196 6.528 10.926 14.419  
     
      Bad Debts Written Off    0.000 0.000 0.000 0.003   0.000 0.000 0.000 0.007  
      Provisions   0.373 0.993 1.490 1.787   0.119 0.329 1.486 1.610  
      Othe Operating Expenses   2.827 5.722 9.099 12.457   3.078 6.199 9.440 12.803  
         Overhead Costs   1.831 3.632 5.744 7.921   1.966 3.981 6.084 8.364  
         Other Expenses   0.996 2.090 3.354 4.536   1.112 2.218 3.357 4.439  
                           
      NET OPERATING INCOME (LOSS)   (0.508) (0.519) (0.957) (1.865)   (0.158) (0.352) (1.647) (2.374)  
      EXTRAORDINARY CREDITS/(CHARGES)   0.091 1.746 2.401 3.306   0.181 0.384 0.791 1.612  
      NET INCOME/(LOSS) BEFORE TAX   (0.417) 1.227 1.444 1.440   0.023 0.033 (0.856) (0.762)  
        Provision for Income Tax   0.106 0.238 0.302 0.640   0.104 0.159 0.202 0.240  
      NET INCOME/(LOSS) AFTER TAX (0.523) 0.989 1.142 0.800 (0.081) (0.126) (1.058) (1.002)
                           
   Return on Assets (%)    (0.3) 0.7 1.0 0.4   0.6 (0.1) (0.6) (0.4)  
   Return on Equity (%)     (1.6) 3.7 5.4 2.0   3.1 (0.7) (3.2) (2.3)  
Note: Details may not add up to totals due to rounding-off
Source : Supervisory Reports & Studies Office, Supervision and Examination Sector
Updated as of 12 March 2004