4   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES AND KEY RATIOS
Philippine Banking System p/
for the periods indicated
in billion pesos
	Selected Accounts				ALL BANKS					UNIVERSAL AND COMMERCIAL BANKS					THRIFT BANKS					RURAL AND COOPERATIVE BANKS
					Mar-08	Jun-08	Sep-08	Dec-08		Mar-08	Jun-08	Sep-08	Dec-08		Mar-08	Jun-08	Sep-08	Dec-08		Mar-08	Jun-08	Sep-08	Dec-08
	Income and Expense Accounts
		Interest Income			76.420	154.188	237.546	325.186		61.757	124.503	193.110	268.076		9.385	18.835	28.403	37.335		5.278	10.850	16.033	19.775
		Interest Expense			35.906	69.331	103.728	141.170		29.403	56.242	84.123	116.923		4.491	8.842	13.393	17.597		2.012	4.247	6.212	6.649
		Provision for Losses on Accrued Interest Income from Financial Assets			0.002	0.004	0.008	0.192		0.002	0.004	0.008	0.192		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000
	Net Interest Income				40.511	84.852	133.810	183.824		32.352	68.257	108.979	150.961		4.894	9.992	15.010	19.738		3.265	6.603	9.821	13.125
	Non-Interest Income				25.437	44.982	61.844	84.777		22.275	39.001	52.979	72.738		1.940	3.498	5.310	7.569		1.222	2.483	3.555	4.471
		Dividend Income			0.070	0.202	0.355	0.449		0.070	0.201	0.354	0.448		0.000	0.001	0.001	0.001		0.000	0.000	(0.000)	(0.000)
		Fees and Commissions Income			10.837	21.584	33.417	45.189		9.067	18.020	28.053	38.438		1.010	2.028	3.135	4.011		0.761	1.537	2.229	2.741
			Payment Services		0.817	1.573	2.436	3.247		0.712	1.350	2.108	2.803		0.068	0.142	0.212	0.289		0.038	0.081	0.115	0.155
			Intermediation Services		5.358	11.014	16.671	22.370		4.104	8.477	12.903	17.640		0.531	1.081	1.655	2.145		0.723	1.456	2.113	2.586
			Custodianship		0.114	0.179	0.284	0.364		0.114	0.179	0.284	0.363		0.000	0.000	0.000	0.001		0.000	0.000	0.000	0.000
			Underwriting and Securities Dealership		0.024	0.133	0.334	0.513		0.024	0.133	0.334	0.513		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000
			Securitization Activities		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000
			Income from Fiduciary Activities		1.266	2.369	4.001	5.813		1.242	2.292	3.869	5.648		0.023	0.077	0.132	0.165		0.000	0.000	0.000	0.000
			Others		3.258	6.316	9.690	12.882		2.870	5.589	8.555	11.471		0.388	0.727	1.135	1.411		0.000	0.000	0.000	0.000
		Gains/(Losses) on Financial Assets and Liabilities Held for Trading			(0.748)	(2.442)	(6.777)	17.951		(0.962)	(2.642)	(6.997)	17.739		0.215	0.200	0.220	0.212		0.000	0.000	0.000	0.000
		Gains/(Losses) on Financial Assets and Liabilities Designated at Fair Value through Profit or Loss			0.068	0.277	(0.442)	(1.087)		0.016	0.225	(0.495)	(1.088)		0.052	0.052	0.053	0.001		0.000	0.000	0.000	0.000
		Foreign Exchange Profit/(Loss)			5.285	8.606	14.757	(6.277)		5.166	8.405	14.448	(6.699)		0.117	0.197	0.299	0.412		0.001	0.004	0.009	0.009
		Gains/(Losses) from Sale/Redemption/Derecognition of Non-Trading Financial Assets and Liabilities			4.363	5.485	3.710	3.884		4.184	5.282	3.479	3.562		0.174	0.196	0.222	0.309		0.005	0.008	0.009	0.013
		Gains/(Losses) on Fair Value Adjustment in Hedge Accounting			0.000	0.005	(0.121)	(0.098)		0.000	0.000	(0.108)	(0.112)		0.000	0.005	(0.013)	0.014		0.000	0.000	0.000	0.000
		Gains/(Losses) from Sale/Derecognition of Non-Financial Assets			2.336	4.293	5.870	8.799		2.276	4.077	5.460	7.920		0.060	0.216	0.410	0.879		0.000	0.000	0.000	0.000
			Bank Premises, Furniture, Fixture and Equipment		0.129	0.198	0.107	0.118		0.118	0.186	0.123	0.197		0.011	0.012	(0.016)	(0.079)		0.000	0.000	0.000	0.000
			ROPA		2.195	4.090	5.760	8.607		2.147	3.888	5.330	7.714		0.048	0.202	0.430	0.893		0.000	0.000	0.000	0.000
			Goodwill		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000
			Other Intangibles		0.012	0.004	0.004	0.074		0.011	0.003	0.007	0.009		0.001	0.001	(0.003)	0.065		0.000	0.000	0.000	0.000
		Other Income			3.226	6.974	11.079	15.969		2.459	5.434	8.787	12.531		0.312	0.605	0.983	1.730		0.455	0.935	1.308	1.708
	Non-Interest Expense				47.414	95.012	147.468	199.368		38.646	77.410	120.690	163.335		5.884	11.645	17.768	23.661		2.884	5.956	9.011	12.372
		Compensation/Fringe Benefits			15.351	32.393	49.017	68.247		12.191	25.982	39.399	55.134		1.987	3.926	5.900	7.842		1.173	2.485	3.718	5.271
		Taxes and Licenses			4.691	8.851	13.478	17.938		3.877	7.282	11.148	14.880		0.575	1.120	1.666	2.183		0.239	0.449	0.663	0.874
		Fees and Commissions Expenses			0.691	1.277	2.177	3.020		0.636	1.158	1.991	2.787		0.009	0.019	0.039	0.044		0.046	0.100	0.147	0.188
		Other Administrative Expenses			18.895	38.877	60.263	85.400		15.186	31.228	48.490	69.421		2.497	5.160	7.938	10.812		1.212	2.489	3.835	5.166
		Depreciation/Amortization			4.132	7.976	12.015	16.887		3.536	6.737	10.097	14.300		0.383	0.806	1.270	1.714		0.214	0.433	0.648	0.872
		Impairment Losses			0.002	0.164	0.395	0.774		0.002	0.164	0.395	0.740		0.000	0.000	0.000	0.034		0.000	0.000	0.000	0.000
			Investment in Subsidiaries, Associates and Joint Ventures		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000
			Bank Premises, Furniture, Fixture and Equipment		0.000	0.000	0.000	0.001		0.000	0.000	0.000	0.001		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000
			ROPA		0.001	0.157	0.384	0.704		0.001	0.157	0.384	0.700		0.000	0.000	0.000	0.004		0.000	0.000	0.000	0.000
			Goodwill		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000
			Other Intangible Assets		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000
			Other Assets		0.001	0.008	0.010	0.068		0.001	0.008	0.010	0.038		0.000	0.000	0.000	0.030		0.000	0.000	0.000	0.000
		Provisions			3.652	5.473	10.124	7.105		3.219	4.859	9.170	6.074		0.433	0.614	0.954	1.031		0.000	0.000	0.000	0.000
	Losses/Recoveries on Financial Assets				(1.899)	(5.535)	(9.342)	(19.211)		(1.489)	(4.303)	(7.146)	(16.213)		(0.135)	(0.569)	(1.169)	(1.717)		(0.275)	(0.662)	(1.027)	(1.281)
		Provision for Credit Losses on Loans and Receivables and Other Financial Assets			(1.719)	(5.054)	(9.312)	(18.489)		(1.248)	(3.712)	(6.958)	(15.379)		(0.198)	(0.685)	(1.340)	(1.937)		(0.274)	(0.658)	(1.014)	(1.173)
		Bad Debts Written Off			(0.716)	(1.473)	(2.392)	(3.409)		(0.671)	(1.381)	(2.254)	(3.143)		(0.041)	(0.082)	(0.116)	(0.145)		(0.004)	(0.011)	(0.022)	(0.121)
		Recovery on Charged-Off Assets			0.537	0.992	2.362	2.688		0.430	0.789	2.066	2.310		0.104	0.197	0.287	0.365		0.003	0.006	0.010	0.013
	Net Profit Before Share in the Profit/(Loss) of Unconsolidated Subsidiaries, Associates and Joint Ventures Accounted for Using the Equity Method				16.635	29.288	38.844	50.022		14.492	25.545	34.122	44.151		0.815	1.275	1.383	1.928		1.328	2.468	3.339	3.943
	Share in the Profit/(Loss) of Unconsolidated Subsidiaries, Associates and Joint Ventures Accounted for Using the Equity Method				1.580	3.709	5.959	7.359		1.577	3.699	5.929	7.307		0.003	0.010	0.030	0.052		0.000	0.000	0.000	0.000
		Share in the Profit/(Loss) of Unconsolidated Subsidiaries			1.194	3.062	4.907	6.033		1.194	3.062	4.907	6.033		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000
		Share in the Profit/(Loss) of Associates			0.386	0.647	1.051	1.325		0.383	0.637	1.021	1.273		0.003	0.010	0.030	0.052		0.000	0.000	0.000	0.000
		Share in the Profit/(Loss) of Joint Ventures			0.000	0.000	0.000	0.001		0.000	0.000	0.000	0.001		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.000
	Total Profit/Loss Before Tax and Before Minority Interest				18.215	32.996	44.803	57.382		16.069	29.243	40.051	51.458		0.818	1.285	1.413	1.981		1.328	2.468	3.339	3.943
		Income Tax Expense			3.249	7.873	10.793	15.880		2.756	6.866	9.574	13.948		0.261	0.592	0.623	1.073		0.231	0.414	0.595	0.859
	Total Profit/Loss After Tax and Before Minority Interest				14.966	25.123	34.010	41.502		13.313	22.377	30.477	37.510		0.557	0.693	0.790	0.908		1.097	2.054	2.743	3.084
		Minority Interest in Profit/(Loss) of Subsidiaries (for consolidated report only)			0.000	0.000	0.000	0.002		0.000	0.000	0.000	0.000		0.000	0.000	0.000	0.002		0.000	0.000	0.000	0.000
	Net Profit or Loss				14.966	25.123	34.010	41.499		13.313	22.377	30.477	37.510		0.557	0.693	0.790	0.905		1.097	2.054	2.743	3.084
	Key  Ratios
	Earning Asset Yield 1/				7.89	7.65	7.79	7.69		7.37	7.11	7.27	7.25		4.83	10.09	9.75	9.41		15.45	15.19	15.56	14.62
	Funding Cost 2/				3.34	3.22	3.26	3.20		3.12	2.99	3.03	3.01		2.22	4.57	4.51	4.33		6.18	6.16	6.01	5.29
	Interest Spread 3/				4.55	4.43	4.52	4.49		4.25	4.13	4.24	4.24		2.61	5.52	5.25	5.08		9.27	9.03	9.55	9.33
	Net Interest Margin 4/				4.33	4.24	4.34	4.35		4.03	3.94	4.04	4.08		2.52	5.30	5.12	4.98		9.53	9.37	9.78	9.71
	Net Interest Income to Total Operating Income				60.77	62.42	64.19	68.44		58.34	60.05	62.03	67.48		71.62	75.96	75.34	72.28		71.95	73.00	75.13	74.59
	Cost to Income Ratio 5/				67.70	70.28	72.86	74.22		64.81	67.61	70.91	72.68		86.10	93.32	91.57	86.53		69.86	70.29	69.71	70.31
	Return on Assets				1.19	1.05	0.99	0.77		1.28	1.15	1.05	0.79		0.23	(0.14)	0.04	0.19		2.19	1.98	2.01	1.93
	Return on Equity				10.14	9.55	8.71	6.91		11.09	10.59	9.40	7.18		1.87	(1.16)	0.34	1.65		15.50	13.77	13.99	13.08
	p/ Preliminary
	1/ Ratio of Annualized Interest Income to Average Earning Assets (Total Loan Portfolio, Net of Amortization + AFS Debt Securities, Net of Amortization + HTM Financial Assets, Net of Amortization + Unquoted Debt Securities Classified as Loans, Net of Amortization + Financial Assets Held for Trading - Held for Trading Equity Securities + Financial Assets Designated at Fair Value Through Profit of Loss-Debt Securities + Due From other Banks
	2/ Ratio of annualized Interest Expense to Interest Bearing Liabilities ( Deposit Liabilities + Bills Payable + Unsecured Subordinated Debt + Bonds Payable, Net + Redeemable Preferred Shares
	3/ Earning assets Yield - Funding Cost
	4/ Ratio of Annualized Net Interest Income (Interest Income - Interest Expense) to Average Earning Assets
	5/ Ratio of Annualized Non-Interest Expense, Net of Impairment Losses to Annualized Total Operating Income (Net Interest Income + Non-Interest Income)
	Note: Details may not add up to totals due to rounding-off
	Source : Supervisory Data Center, Supervision and Examination Sector
	Updated as of 05 May 2009