40   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES
              Thrift Banking System
              for the periods indicated
              in billion pesos
Selected Accounts   THRIFT BANKS  
 
 
Mar-07 Jun-07 Sep-07 Dec-07  
OPERATING INCOME 7.037 13.962 20.373 26.844
       Net Interest Income 4.865 10.020 15.052 20.074
          Interest Income 9.191 18.402 27.996 37.730
          Less: Interest Expense 4.326 8.381 12.944 17.656
 
       Non-Interest Income 2.172 3.941 5.321 6.770
         Fee-based Income 0.865 1.796 2.749 3.679
         Trading Income/(Loss) 1.061 1.600 1.682 1.907
         Trust Department Income 0.017 0.036 0.067 0.128
         Other Income/(Loss) 0.229 0.510 0.823 1.057
  OPERATING EXPENSES 6.032 12.603 19.782 26.880
    Bad Debts Written Off  0.072 0.106 0.153 0.236
    Provisions 0.523 1.385 2.114 2.641
    Other Operating Expenses 5.437 11.112 17.515 24.004
       Overhead Costs 3.562 7.204 11.477 15.675
       Other Expenses 1.875 3.908 6.038 8.329
 
    NET OPERATING INCOME (LOSS) 1.005 1.358 0.591 (0.037)
    EXTRAORDINARY CREDITS/(CHARGES) 0.199 0.511 0.728 0.682
    NET INCOME/(LOSS) BEFORE TAX 1.205 1.869 1.319 0.645  
      Provision for Income Tax 0.553 0.591 0.783 0.708
      NET INCOME/(LOSS) AFTER TAX 0.652 1.278 0.535 (0.063)
 
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