31   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES
Commercial Banking System 1/
for the periods indicated
in billion pesos
	Selected Accounts				COMMERCIAL BANKS
					Mar-06	Jun-06	Sep-06	Dec-06
	OPERATING INCOME				11.175	20.591	29.481	41.972
	Net Interest Income				6.289	13.348	18.560	25.510
		Interest Income			12.934	26.629	37.883	51.902
		Less: Interest Expense			6.645	13.281	19.323	26.391
	Non-Interest Income				4.885	7.242	10.921	16.461
		Fee-based Income			1.402	2.759	3.937	5.581
		Trading Income/(Loss)			3.077	3.729	5.803	9.048
		Trust Department Income			0.100	0.206	0.254	0.320
		Other Income/(Loss)			0.307	0.548	0.926	1.513
	OPERATING EXPENSES				7.304	13.596	18.090	27.045
		Bad Debts Written Off			0.000	0.003	0.021	0.022
		Provisions			0.560	1.050	1.746	3.080
		Other Operating Expenses			6.744	12.542	16.323	23.943
		Overhead Costs			4.139	7.666	9.791	14.937
		Other Expenses			2.605	4.876	6.533	9.006
		NET OPERATING INCOME (LOSS)			3.870	6.995	11.391	14.927
		EXTRAORDINARY CREDITS/(CHARGES)			0.833	0.367	0.504	1.062
		NET INCOME/(LOSS) BEFORE TAX			4.703	7.362	11.895	15.989
		Provision for Income Tax			0.996	1.363	2.432	3.758
		NET INCOME/(LOSS) AFTER TAX			3.707	5.999	9.464	12.231
1/  Inclusive of other branches/subsidiaries of foreign banks
Note: Details may not add up to totals due to rounding-off
Source : Supervisory Data Center, Supervision and Examination Sector
	Updated as of 1April 2008