27   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES 
            Thrift Banking System
          for the periods indicated
          in billion pesos
Selected Accounts TOTAL THRIFT BANKS  
2001 2002  
1st 2nd 3rd 4th 1st 2nd 3rd 4th  
Quarter Quarter Quarter Quarter   Quarter Quarter Quarter Quarter  
OPERATING INCOME 2.834 6.054 9.187 12.264   3.153 6.440 10.316 14.451  
       Net Interest Income 2.095 4.415 6.819 9.178   1.975 4.623 7.543 10.882  
   
            Interest Income 5.948 11.702 17.264 23.012   5.074 10.464 15.365 20.304  
            Less: Interest Expense 3.853 7.287 10.445 13.834   3.099 5.841 7.822 9.422  
     
       Non-Interest Income 0.739 1.639 2.368 3.086   1.178 1.817 2.773 3.569  
                       
           Fee-based Income 0.424 0.812 1.284 1.821   0.454 0.959 1.376 1.789  
           Trading Income/(Loss) 0.071 0.173 0.251 0.307   0.262 0.436 0.666 0.995  
           Trust Department Income 0.015 0.031 0.048 0.063   0.021 0.050 0.063 0.092  
           Other Income/(Loss) 0.229 0.623 0.785 0.895   0.441 0.372 0.668 0.693  
                   
  OPERATING EXPENSES 3.441 7.026 10.775 14.601   3.461 7.038 10.943 13.964  
                   
      Bad Debts Written Off  0.000 0.001 0.000 0.001   0.000 0.000 0.001 0.001  
      Provisions 0.183 0.421 0.627 0.812   0.177 0.529 1.035 1.337  
      Othe Operating Expenses 3.258 6.604 10.148 13.788   3.284 6.509 9.907 12.626  
         Overhead Costs 2.180 4.375 6.594 8.948   2.129 4.071 6.406 8.259  
         Other Expenses 1.078 2.229 3.554 4.840   1.155 2.438 3.501 4.367  
                         
      NET OPERATING INCOME (LOSS) (0.607) (0.972) (1.588) (2.337)   (0.308) (0.598) (0.627) 0.487  
      EXTRAORDINARY CREDITS/(CHARGES) 0.417 0.909 1.549 2.582   0.469 1.145 1.437 0.381  
      NET INCOME/(LOSS) BEFORE TAX (0.190) (0.063) (0.039) 0.245   0.161 0.547 0.810 0.868  
        Provision for Income Tax 0.083 0.159 0.233 0.365   0.078 0.171 0.155 0.213  
      NET INCOME/(LOSS) AFTER TAX (0.273) (0.222) (0.272) (0.120) 0.083 0.376 0.655 0.655
                         
   Return on Assets (%)  (0.5) (0.5) (0.1) (0.0)   0.1 0.2 0.3 0.3  
   Return on Equity (%)   (2.7) (2.5) (0.5) (0.3)   0.5 1.1 1.9 1.5  
Note: Details may not add up to totals due to rounding-off
Source : Supervisory Reports & Studies Office, Supervision and Examination Sector
Updated as of 12 March 2004