18 CONSOLIDATED FINANCIAL STATEMENTS
Universal Banks
as of end of periods indicated
in billion pesos
	Selected Accounts			UNIVERSAL BANKS
				March 2001	June 2001	Sept 2001	Dec 2001	March 2002	June 2002	Sept 2002	Dec 2002
	CONSOLIDATED STATEMENT OF INCOME AND EXPENSE
		TOTAL OPERATING INCOME		23.779	47.145	69.548	94.177	26.584	55.766	82.999	110.514
		NET INTEREST INCOME		14.761	30.189	44.003	59.370	14.734	31.132	45.614	62.065
		INTEREST INCOME		44.115	85.326	124.305	166.086	35.939	67.916	98.586	131.515
		INTEREST EXPENSE		29.354	55.137	80.302	106.716	21.205	36.784	52.972	69.450
		NON-INTEREST INCOME		9.018	16.956	25.545	34.807	11.850	24.634	37.385	48.449
		FEE BASED INCOME		2.918	6.109	9.301	13.259	3.212	6.565	10.328	14.229
		TRADING INCOME		4.066	6.629	9.928	13.125	6.603	13.577	20.077	25.080
		TRUST DEPARTMENT INCOME		0.485	1.021	1.578	2.209	0.613	1.298	2.094	2.962
		OTHER INCOME		1.549	3.197	4.738	6.214	1.422	3.194	4.886	6.178
		TOTAL OPERATING EXPENSES		22.326	46.329	70.434	93.893	23.495	48.789	73.636	98.908
		BAD DEBTS WRITTEN OFF		0.000	0.000	0.001	0.002	0.003	0.007	0.016	0.025
		PROVISIONS FOR PROBABLE LOSSES		4.318	9.538	14.913	18.149	3.964	9.621	15.105	19.585
		OTHER OPERATING EXPENSES		18.008	36.791	55.520	75.742	19.528	39.161	58.515	79.298
		Overhead costs		12.420	24.839	37.324	50.621	13.716	27.152	40.363	54.130
		Other expenses		5.588	11.952	18.196	25.121	5.812	12.009	18.152	25.168
		NET OPERATING INCOME / (LOSS)		1.453	0.816	(0.886)	0.284	3.089	6.977	9.363	11.606
		EXTRAORDINARY CREDITS / (CHARGES)		2.116	4.059	6.343	7.959	1.515	2.825	4.001	5.466
		NET INCOME/(LOSS) BEFORE TAX		3.569	4.875	5.457	8.243	4.604	9.802	13.364	17.072
		PROVISIONS FOR INCOME TAX		1.109	1.314	1.682	(0.216)	0.633	0.591	0.678	(0.574)
		NET INCOME/(LOSS) AFTER TAX		2.460	3.561	3.775	8.459	3.971	9.211	12.686	17.646
	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