18 CONSOLIDATED FINANCIAL STATEMENTS
Commercial Banks
as of end of periods indicated
in billion pesos
	Selected Accounts			COMMERCIAL 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		8.355	16.086	23.390	28.919	6.975	16.612	24.870	31.504
		NET INTEREST INCOME		4.809	9.975	14.629	18.615	3.563	9.191	14.235	18.755
		INTEREST INCOME		13.821	28.255	40.765	50.503	9.313	20.461	30.055	37.179
		INTEREST EXPENSE		9.012	18.280	26.136	31.888	5.750	11.270	15.820	18.424
		NON-INTEREST INCOME		3.546	6.111	8.761	10.304	3.412	7.421	10.635	12.749
		FEE BASED INCOME		1.100	2.247	3.304	3.976	0.675	1.895	2.957	3.909
		TRADING INCOME		2.079	3.226	4.438	5.249	2.521	4.958	6.774	7.644
		TRUST DEPARTMENT INCOME		0.081	0.190	0.327	0.334	0.070	0.179	0.292	0.324
		OTHER INCOME		0.286	0.448	0.692	0.745	0.146	0.389	0.612	0.872
		TOTAL OPERATING EXPENSES		5.955	12.765	18.860	23.257	4.865	11.631	16.988	23.163
		BAD DEBTS WRITTEN OFF		0.045	0.071	0.071	0.000	0.043	0.043	0.043	0.001
		PROVISIONS FOR PROBABLE LOSSES		0.824	1.993	2.876	3.889	0.602	1.937	2.552	4.410
		OTHER OPERATING EXPENSES		5.086	10.701	15.913	19.368	4.220	9.651	14.393	18.752
		Overhead costs		3.097	6.507	9.549	11.895	2.659	6.103	8.931	11.567
		Other expenses		1.989	4.194	6.364	7.473	1.561	3.548	5.462	7.185
		NET OPERATING INCOME / (LOSS)		2.400	3.321	4.530	5.662	2.110	4.981	7.882	8.341
		EXTRAORDINARY CREDITS / (CHARGES)		0.223	0.263	0.390	0.471	(0.106)	(0.198)	0.093	(0.146)
		NET INCOME/(LOSS) BEFORE TAX		2.623	3.584	4.920	6.133	2.004	4.783	7.975	8.195
		PROVISIONS FOR INCOME TAX		0.477	0.415	0.791	1.347	0.379	0.896	1.313	1.420
		NET INCOME/(LOSS) AFTER TAX		2.146	3.169	4.129	4.786	1.625	3.887	6.662	6.775
	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