31   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES
Commercial Banking System 1/
for the periods indicated
in billion pesos
	Selected Accounts				COMMERCIAL BANKS
					Mar-07	Jun-07	Sep-07	Dec-07
	OPERATING INCOME				10.542	20.450	28.688	40.829
	Net Interest Income				6.966	13.801	19.007	25.486
		Interest Income			13.583	26.543	36.373	47.703
		Less: Interest Expense			6.617	12.742	17.366	22.217
	Non-Interest Income				3.576	6.649	9.681	15.343
		Fee-based Income			1.616	3.008	4.352	6.230
		Trading Income/(Loss)			1.607	2.732	3.932	7.201
		Trust Department Income			0.076	0.148	0.253	0.354
		Other Income/(Loss)			0.278	0.760	1.144	1.559
	OPERATING EXPENSES				6.731	13.683	20.146	27.312
		Bad Debts Written Off			0.000	0.936	1.454	2.083
		Provisions			0.688	0.846	1.405	1.804
		Other Operating Expenses			6.042	11.902	17.288	23.426
		Overhead Costs			3.766	7.363	10.534	14.073
		Other Expenses			2.276	4.539	6.754	9.353
		NET OPERATING INCOME (LOSS)			3.811	6.766	8.542	13.517
		EXTRAORDINARY CREDITS/(CHARGES)			0.250	0.464	0.744	0.956
		NET INCOME/(LOSS) BEFORE TAX			4.061	7.231	9.286	14.473
		Provision for Income Tax			0.731	1.560	2.312	3.887
		NET INCOME/(LOSS) AFTER TAX			3.330	5.671	6.974	10.586
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