7   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES
		Philippine Banking System
		for the periods indicated
		in billion pesos
Selected Accounts
				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 and Studies Office, Supervision and Examination Sector
Updated as of 12 March 2004