7   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES
		Philippine Banking System
		for the periods indicated
		in billion pesos
Selected Accounts
				ALL BANKS
				1999					2000
				1st	2nd	3rd	4th		1st	2nd	3rd	4th
				Quarter	Quarter	Quarter	Quarter		Quarter	Quarter	Quarter	Quarter
	OPERATING INCOME			35.273	73.212	106.284	145.786		32.246	64.752	95.997	133.222
	Net Interest Income			24.784	49.621	73.249	97.471		21.573	44.062	66.521	90.018
		Interest Income		63.834	123.786	179.934	235.932		54.233	109.695	167.233	235.115
		Less: Interest Expense		39.050	74.165	106.684	138.460		32.660	65.634	100.711	145.098
	Non-Interest Income			10.489	23.591	33.035	48.315		10.673	20.690	29.476	43.204
		Fee-based Income		4.385	8.734	13.125	17.941		4.287	8.763	13.395	18.875
		Trading Income/(Loss)		3.605	9.788	11.860	19.987		3.972	7.273	9.289	12.656
		Trust Department Income		0.578	1.366	2.056	2.617		0.653	1.273	1.905	2.504
		Other Income/(Loss)		1.921	3.703	5.995	7.770		1.761	3.381	4.887	9.170
	OPERATING EXPENSES			31.461	63.746	95.851	143.137		30.538	61.228	93.558	128.276
		Bad Debts Written Off		0.537	0.768	0.920	0.737		0.038	0.102	0.179	0.047
		Provisions		5.854	12.318	18.163	37.124		4.084	8.192	14.062	19.295
		Othe Operating Expenses		25.071	50.660	76.768	105.276		26.417	52.934	79.317	108.933
		Overhead Costs		16.466	32.990	49.653	68.398		17.493	35.271	51.489	70.855
		Other Expenses		8.605	17.670	27.115	36.878		8.924	17.663	27.828	38.078
		NET OPERATING INCOME (LOSS)		3.812	9.466	10.434	2.649		1.708	3.523	2.440	4.946
		EXTRAORDINARY CREDITS/(CHARGES)		1.991	5.223	8.464	11.599		1.687	3.735	6.492	8.617
		NET INCOME/(LOSS) BEFORE TAX		5.803	14.689	18.898	14.249		3.394	7.258	8.932	13.563
		Provision for Income Tax		1.008	1.940	2.057	2.413		1.135	2.128	2.071	2.084
		NET INCOME/(LOSS) AFTER TAX		4.795	12.750	16.841	11.835		2.259	5.130	6.860	11.479
	Return on Assets (%)			0.6	0.6	0.6	0.4		0.3	0.1	0.1	0.4
	Return on Equity (%)			4.2	3.9	3.9	2.9		2.3	1.0	0.4	2.6
Note: Details may not add up to totals due to rounding-off
Source: Supervisory Reports and Studies Office, Supervision and Examination Sector
Updated as of 12 March 2004