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