54   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES
Rural Banking System
for the periods indicated
in billion pesos
	Selected Accounts				RURAL BANKS
					Mar-06	Jun-06	Sep-06	Dec-06
	OPERATING INCOME				2.643	5.455	8.952	12.103
	Net Interest Income				1.847	3.834	6.278	8.539
		Interest Income			3.267	6.738	10.685	14.420
		Less: Interest Expense			1.419	2.903	4.407	5.880
	Non-Interest Income				0.796	1.621	2.675	3.564
		Fee-based Income			0.583	1.185	1.788	2.333
		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)			0.208	0.424	0.881	1.210
	OPERATING EXPENSES				2.190	4.545	6.985	9.750
		Bad Debts Written Off			0.002	0.006	0.021	0.047
		Provisions			0.097	0.203	0.340	0.333
		Other Operating Expenses			2.092	4.336	6.624	9.370
		Overhead Costs			1.334	2.769	4.209	5.933
		Other Expenses			0.757	1.567	2.416	3.437
		NET OPERATING INCOME (LOSS)			0.453	0.911	1.967	2.354
		EXTRAORDINARY CREDITS/(CHARGES)			0.085	0.190	0.431	0.511
		NET INCOME/(LOSS) BEFORE TAX			0.538	1.100	2.398	2.864
		Provision for Income Tax			0.101	0.218	0.391	0.536
		NET INCOME/(LOSS) AFTER TAX			0.436	0.882	2.007	2.328
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