36   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES 
             Rural and Cooperative Banking System
           for the periods indicated
           in billion pesos
Selected Accounts COOPERATIVE BANKS
2001 2002  
1st 2nd 3rd 4th 1st 2nd 3rd 4th  
Quarter Quarter Quarter Quarter   Quarter Quarter Quarter Quarter  
  OPERATING INCOME 0.116 0.240 0.392 0.516   0.139 0.301 0.446 0.608  
       Net Interest Income 0.052 0.109 0.203 0.266   0.075 0.161 0.231 0.314  
   
            Interest Income 0.150 0.307 0.442 0.590   0.156 0.336 0.493 0.672  
            Less: Interest Expense 0.098 0.198 0.239 0.324   0.081 0.175 0.262 0.358  
     
       Non-Interest Income 0.064 0.131 0.189 0.250   0.064 0.140 0.215 0.294  
                       
            Fee-based Income 0.046 0.095 0.146 0.193   0.049 0.105 0.164 0.223  
            Trading Income/(Loss) 0.000 0.000 0.000 0.001   0.000 0.000 0.000 0.002  
            Trust Department Income 0.000 0.000 0.000 0.000   0.000 0.000 0.000 0.000  
            Other Income/(Loss) 0.018 0.036 0.043 0.056   0.015 0.035 0.051 0.069  
  OPERATING EXPENSES 0.106 0.215 0.316 0.442   0.108 0.232 0.355 0.518  
        Bad Debts Written Off 0.000 0.000 0.001 0.003   0.000 0.001 0.001 0.004  
        Provisions for Probable Losses 0.002 0.004 0.009 0.010   0.002 0.004 0.006 0.007  
       Other Operating Expenses 0.104 0.211 0.306 0.429   0.106 0.227 0.348 0.507  
          Overhead Costs 0.074 0.149 0.219 0.300   0.076 0.162 0.248 0.355  
          Other Expenses 0.030 0.062 0.087 0.129   0.030 0.065 0.100 0.152  
                         
      NET OPERATING INCOME/(LOSS) 0.010 0.025 0.076 0.074   0.031 0.069 0.091 0.090  
         Extraordinary Credits/(Charges)   EXTRAORDINARY CREDITS/(CHARGES) 0.002 0.005 0.006 0.008   0.002 0.004 0.008 0.013  
      NET INCOME/(LOSS) BEFORE TAX 0.012 0.030 0.082 0.082   0.033 0.073 0.099 0.103  
         Provision for Income Tax 0.000 0.000 0.000 0.000   0.000 0.000 0.000 0.000  
      NET INCOME/(LOSS) AFTER TAX 0.012 0.030 0.082 0.082 0.033 0.073 0.099 0.103
                         
   Return on Assets (%)  0.4 0.8 1.5 1.7   2.0 2.4 2.0 2.1  
   Return on Equity (%)   3.8 6.7 10.4 12.0   13.9 16.1 12.2 12.7  
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