49   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES      
              Rural and Cooperative Banking System          
              for the periods indicated          
              in billion pesos          
Selected Accounts   Mar-06 Jun-06 Sep-06 Dec-06  
 
OPERATING INCOME 2.856 5.889 9.598 13.008
       Net Interest Income 1.962 4.067 6.620 9.027
          Interest Income 3.502 7.210 11.397 15.409
          Less: Interest Expense 1.539 3.143 4.777 6.381
 
       Non-Interest Income 0.893 1.822 2.978 3.980
         Fee-based Income 0.653 1.327 2.003 2.622
         Trading Income/(Loss) 0.005 0.013 0.006 0.020
         Trust Department Income 0.000 0.000 0.000 0.000
         Other Income/(Loss) 0.236 0.483 0.968 1.338
  OPERATING EXPENSES 2.353 4.885 7.502 10.476
    Bad Debts Written Off  0.002 0.006 0.023 0.049
    Provisions 0.102 0.217 0.363 0.367
    Other Operating Expenses 2.248 4.662 7.116 10.060
       Overhead Costs 1.442 2.987 4.541 6.393
       Other Expenses 0.806 1.675 2.575 3.667
 
    NET OPERATING INCOME (LOSS) 0.503 1.004 2.097 2.532
    EXTRAORDINARY CREDITS/(CHARGES) 0.091 0.199 0.450 0.533
    NET INCOME/(LOSS) BEFORE TAX 0.594 1.203 2.546 3.065
      Provision for Income Tax 0.102 0.220 0.393 0.539
    NET INCOME/(LOSS) AFTER TAX 0.492 0.983 2.153 2.526
 
   
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