13   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES
Universal and Commercial Banking System
for the periods indicated
in billion pesos
	Selected Accounts				UNIVERSAL AND COMMERCIAL BANKS
					Mar-07	Jun-07	Sep-07	Dec-07
	OPERATING INCOME				57.543	110.524	165.040	224.771
	Net Interest Income				34.163	67.997	105.541	136.936
		Interest Income			62.913	124.927	189.258	248.467
		Less: Interest Expense			28.750	56.930	83.716	111.531
	Non-Interest Income				23.380	42.526	59.498	87.835
		Fee-based Income			7.053	13.970	21.149	29.929
		Trading Income/(Loss)			11.444	17.489	22.950	37.598
		Trust Department Income			0.826	1.655	2.690	4.007
		Other Income/(Loss)			4.058	9.412	12.709	16.301
	OPERATING EXPENSES				41.618	81.111	122.378	167.566
		Bad Debts Written Off			0.001	0.937	1.455	2.084
		Provisions			6.720	11.281	16.362	18.478
		Other Operating Expenses			34.897	68.893	104.561	147.004
		Overhead Costs			22.703	44.395	67.349	93.380
		Other Expenses			12.194	24.499	37.212	53.624
		NET OPERATING INCOME (LOSS)			15.925	29.413	42.662	57.205
		EXTRAORDINARY CREDITS/(CHARGES)			3.973	7.023	9.752	15.227
		NET INCOME/(LOSS) BEFORE TAX			19.898	36.436	52.414	72.432
		Provision for Income Tax			3.054	5.953	9.470	12.484
		NET INCOME/(LOSS) AFTER TAX			16.844	30.482	42.943	59.949
Note: Details may not add up to totals due to rounding-off
Source : Supervisory Data Center, Supervision and Examination Sector
Updated as of 1 April 2008