36 CONSOLIDATED FINANCIAL STATEMENTS
Rural Banks
as of end of periods indicated
in billion pesos
	Selected Accounts			RURAL BANKS
				March 2005	June 2005	September 2005	December 2005
	CONSOLIDATED STATEMENT OF INCOME AND EXPENSE
		TOTAL OPERATING INCOME		2.488	5.049	7.455	10.232
		NET INTEREST INCOME		1.725	3.501	5.185	7.273
		INTEREST INCOME		2.942	6.029	9.044	12.408
		INTEREST EXPENSE		1.217	2.528	3.859	5.135
		NON-INTEREST INCOME		0.763	1.548	2.270	2.959
		FEE BASED INCOME		0.548	1.152	1.680	2.207
		TRADING INCOME		0.005	0.010	0.010	0.018
		TRUST DEPARTMENT INCOME		0.000	0.000	0.000	0.000
		OTHER INCOME		0.210	0.386	0.580	0.733
		TOTAL OPERATING EXPENSES		2.054	4.171	6.348	8.863
		BAD DEBTS WRITTEN OFF		0.005	0.005	0.014	0.059
		PROVISIONS FOR PROBABLE LOSSES		0.088	0.175	0.301	0.389
		OTHER OPERATING EXPENSES		1.961	3.991	6.033	8.415
		Overhead costs		1.264	2.590	3.913	5.456
		Other expenses		0.696	1.401	2.120	2.959
		NET OPERATING INCOME / (LOSS)		0.434	0.877	1.108	1.368
		EXTRAORDINARY CREDITS / (CHARGES)		0.110	0.251	0.343	0.498
		NET INCOME/(LOSS) BEFORE TAX		0.545	1.129	1.451	1.866
		PROVISIONS FOR INCOME TAX		0.072	0.184	0.265	0.388
		NET INCOME/(LOSS) AFTER TAX		0.473	0.945	1.186	1.478
	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: Supervisory Data Center, Supervision and Examination Sector