7       CONSOLIDATED FINANCIAL STATEMENTS
Philippine Banking System
as of end of periods indicated
in billion pesos
	Selected Accounts			ALL BANKS
				March 2005	June 2005	September 2005	December 2005
	CONSOLIDATED STATEMENT OF INCOME AND EXPENSE
		TOTAL OPERATING INCOME		54.414	108.427	160.756	217.460
		NET INTEREST INCOME		35.796	73.651	111.129	148.814
		INTEREST INCOME		68.111	138.542	208.344	279.749
		INTEREST EXPENSE		32.316	64.892	97.214	130.934
		NON-INTEREST INCOME		18.619	34.777	49.626	68.646
		FEE BASED INCOME		7.101	14.609	21.804	28.814
		TRADING INCOME		7.565	11.901	15.604	22.990
		TRUST DEPARTMENT INCOME		1.195	1.988	3.034	3.967
		OTHER INCOME		2.757	6.278	9.185	12.874
		TOTAL OPERATING EXPENSES		41.739	83.116	124.993	169.191
		BAD DEBTS WRITTEN OFF		0.005	0.008	0.136	0.176
		PROVISIONS FOR PROBABLE LOSSES		6.766	12.670	18.851	22.617
		OTHER OPERATING EXPENSES		34.968	70.439	106.005	146.397
		Overhead costs		22.395	45.074	67.248	92.650
		Other expenses		12.573	25.364	38.757	53.747
		NET OPERATING INCOME / (LOSS)		12.675	25.311	35.763	48.269
		EXTRAORDINARY CREDITS / (CHARGES)		2.272	6.102	8.122	9.593
		NET INCOME/(LOSS) BEFORE TAX		14.948	31.413	43.885	57.862
		PROVISIONS FOR INCOME TAX		2.804	6.351	8.883	13.249
		NET INCOME/(LOSS) AFTER TAX		12.144	25.062	35.002	44.614
	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