40 Income Statement          
             
             
  Thrift Bank Group          
  as of end of periods indicated          
  amounts in thousand Pesos          
             
   
  Selected Accounts Mar-09 Jun-09 Sep-09 Dec-09  
   
  TOTAL OPERATING INCOME   7,360,456.16 15,387,174.08 22,166,748.28 30,325,887.42  
  Interest Income 9,804,760.16 19,771,692.70 29,205,320.07 39,099,417.36  
  Interest Expense 4,399,329.92 8,569,013.37 12,284,839.42 16,294,728.56  
  Provision for Losses on Accrued Interest Income from Financial Assets 0.00 0.00 43,548.31 112,460.59  
  Net Interest Income 5,405,430.25 11,202,679.33 16,876,932.34 22,692,228.21  
  Non-Interest income 1,955,025.91 4,184,494.75 5,289,815.95 7,633,659.21  
  (1) Dividend Income 53.88 3,124.12 3,660.88 3,768.65  
  (2) Fees and Commissions Income 961,998.52 1,950,912.44 2,910,759.90 4,340,870.09  
  (3) Trading Income 396,445.23 992,520.94 1,693,101.27 2,449,245.44  
  (a) Realized Gains/(Losses) from Sale/Redemption 288,352.20 400,856.60 509,093.28 732,655.84  
  (b) Unrealized Gains/(Losses) from Marking-to-Market 7,341.44 28,252.73 54,039.62 471.24  
  (c) Realized Gains/(Losses) from FX Transactions 360.17 4,049.70 1,727.91 15,568.30  
  (d) Foreign Exchange Profit/(Loss) 50,906.05 97,815.88 138,841.13 139,947.12  
  (e) Profit/(Loss) from Sale/Redemption/Derecognition of Non-Trading Fin'l Assets & Liabilities 40,869.26 118,398.47 402,274.14 541,505.89  
  (f) Profit/(Loss) from Sale/Derecognition of Non-Fin'l Assets 7,339.83 344,870.46 580,507.72 1,019,944.29  
  (g) Profit/(Loss) on Financial Assets and Liabilities DFVPL 3,283.33 6,371.68 18,376.51 27,000.80  
  (h) Profit/(Loss) on Fair Value Adjustment in Hedge Accounting (2,007.05) (8,094.57) (11,759.04) (27,848.04)  
  (4) Other income 596,528.29 1,237,937.24 682,293.90 839,775.02  
  NON-INTEREST EXPENSES 6,475,872.68 12,799,839.95 17,708,639.51 24,022,312.00  
  (1) Compensation/Fringe Benefits 2,205,366.59 4,269,020.57 6,042,288.48 8,245,993.63  
  (2) Taxes and Licenses 633,528.12 1,185,586.56 1,642,784.13 2,166,291.55  
  (3) Fees and Commissions 20,005.44 76,803.18 106,236.28 127,759.24  
  (4) Other Administrative Expenses 2,752,096.10 5,409,634.90 7,604,250.75 10,459,974.35  
  (5) Depreciation/Amortization 482,922.19 934,698.88 1,415,636.02 1,869,696.80  
  (6) Impairment Losses 0.00 0.00 49,425.69 125,131.86  
  (7) Provisions 381,954.24 924,095.85 848,018.16 1,027,464.58  
  LOSSES/RECOVERIES ON FINANCIAL ASSETS (536,373.22) (1,009,066.64) (1,793,144.64) (2,602,495.72)  
  (1) Provision for Credit Losses on Loans & Other Fin'l Assets (617,663.12) (1,160,990.68) (1,847,941.40) (2,612,218.56)  
  (2) Bad Debts Written Off (36,556.77) (63,845.62) (110,762.12) (206,709.15)  
  (3) Recovery on Charged-Off Assets 117,846.67 215,769.66 165,558.88 216,431.99  
  NET PROFIT BEFORE SHARE IN THE PROFIT/(LOSS) OF UNCONSOLIDATED SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES ACCOUNTED FOR USING THE EQUITY METHOD 348,210.26 1,578,267.50 2,664,964.14 3,701,079.70  
  Share in the Profit/(Loss) of Unconsolidated Subsidiaries, Associates and Joint Ventures Accounted for Using the Equity Method 11,011.77 18,545.18 46,767.50 75,939.11  
  TOTAL PROFIT/LOSS BEFORE TAX AND BEFORE MINORITY INTEREST 359,222.03 1,596,812.68 2,711,731.64 3,777,018.80  
  Income Tax Expense 267,135.35 551,961.02 997,595.34 1,333,716.82  
  TOTAL PROFIT/LOSS AFTER TAX AND BEFORE MINORITY INTEREST 92,086.67 1,044,851.65 1,714,136.30 2,443,301.98  
  Minority Interest in Profit/(Loss) of Subsidiaries 0.00 0.00 0.00 0.00  
  NET PROFIT OR LOSS 92,086.67 1,044,851.65 1,714,136.30 2,443,301.98