7   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES
		Philippine Banking System
		for the periods indicated
		in billion pesos
Selected Accounts
				UNIVERSAL AND COMMERCIAL BANKS
				1999					2000
				1st	2nd	3rd	4th		1st	2nd	3rd	4th
				Quarter	Quarter	Quarter	Quarter		Quarter	Quarter	Quarter	Quarter
	OPERATING INCOME			31.110	64.068	92.065	127.215		27.714	55.476	82.014	114.912
	Net Interest Income			22.030	43.519	63.783	84.858		18.516	37.787	56.864	77.432
		Interest Income		55.791	107.436	155.618	205.011		47.316	95.766	145.965	206.059
		Less: Interest Expense		33.761	63.917	91.834	120.153		28.800	57.979	89.101	128.627
	Non-Interest Income			9.080	20.549	28.282	42.357		9.198	17.689	25.150	37.480
		Fee-based Income		3.577	7.169	10.695	14.796		3.511	7.161	10.967	15.590
		Trading Income/(Loss)		3.553	9.618	11.560	19.802		3.867	7.050	8.953	12.191
		Trust Department Income		0.569	1.327	1.990	2.539		0.642	1.251	1.865	2.448
		Other Income/(Loss)		1.381	2.435	4.037	5.220		1.178	2.227	3.365	7.251
	OPERATING EXPENSES			26.995	54.442	81.348	123.469		26.108	52.123	78.684	108.309
		Bad Debts Written Off		0.534	0.759	0.901	0.712		0.037	0.098	0.151	0.010
		Provisions		5.435	11.201	16.492	35.116		3.940	7.811	12.493	17.564
		Othe Operating Expenses		21.026	42.482	63.955	87.641		22.131	44.214	66.040	90.735
		Overhead Costs		13.802	27.666	41.366	56.963		14.703	29.562	42.797	58.797
		Other Expenses		7.224	14.816	22.589	30.678		7.428	14.652	23.243	31.938
		NET OPERATING INCOME (LOSS)		4.115	9.626	10.717	3.746		1.606	3.353	3.330	6.603
		EXTRAORDINARY CREDITS/(CHARGES)		1.898	3.473	6.057	8.282		1.504	3.349	5.572	6.644
		NET INCOME/(LOSS) BEFORE TAX		6.013	13.099	16.774	12.028		3.110	6.702	8.902	13.247
		Provision for Income Tax		0.874	1.637	1.646	1.637		0.997	1.896	1.742	1.676
		NET INCOME/(LOSS) AFTER TAX		5.139	11.462	15.128	10.390		2.113	4.806	7.160	11.571
	Return on Assets (%)			0.7	0.5	0.5	0.4		0.3	0.1	0.1	0.4
	Return on Equity (%)			4.8	3.9	3.7	2.9		2.0	1.0	0.6	3.0
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