40 Income Statement          
             
             
  Thrift Bank Group          
  as of end of periods indicated          
  amounts in thousand Pesos          
             
   
  Selected Accounts Mar-10 Jun-10 Sep-10 Dec-10  
   
  TOTAL OPERATING INCOME   8,170,340.35 16,220,920.59 26,987,909.72 37,187,975.63  
  Interest Income 9,945,811.87 19,981,002.15 30,900,339.69 41,881,265.17  
  Interest Expense 3,893,724.99 7,786,027.98 11,984,368.79 16,311,571.68  
  Provision for Losses on Accrued Interest Income from Financial Assets 53,425.02 50,988.22 60,786.35 74,115.09  
  Net Interest Income 5,998,661.87 12,143,985.95 18,855,184.56 25,495,578.40  
  Non-Interest income 2,171,678.49 4,076,934.64 8,132,725.17 11,692,397.23  
  (1) Dividend Income 41.95 1,146.29 2,505.36 2,600.39  
  (2) Fees and Commissions Income 1,060,850.23 2,123,552.90 3,383,740.43 4,537,742.10  
  (3) Trading Income 930,678.39 1,561,436.33 4,033,774.36 5,777,299.07  
  (a) Realized Gains/(Losses) from Sale/Redemption 583,372.98 961,020.32 2,177,763.52 3,419,186.22  
  (b) Unrealized Gains/(Losses) from Marking-to-Market 20,018.75 (13,242.89) (7,669.80) 15,743.57  
  (c) Realized Gains/(Losses) from FX Transactions (1,819.54) 1,683.44 (5,530.61) (5,686.63)  
  (d) Foreign Exchange Profit/(Loss) 33,616.54 101,503.12 179,581.16 122,144.16  
  (e) Profit/(Loss) from Sale/Redemption/Derecognition of Non-Trading Fin'l Assets & Liabilities 118,021.29 220,193.79 1,164,980.38 1,466,873.47  
  (f) Profit/(Loss) from Sale/Derecognition of Non-Fin'l Assets 173,865.14 283,304.89 512,688.09 746,391.49  
  (g) Profit/(Loss) on Financial Assets and Liabilities DFVPL 3,603.23 6,973.67 11,961.62 12,646.80  
  (h) Profit/(Loss) on Fair Value Adjustment in Hedge Accounting 0.00 0.00 0.00 0.00  
  (4) Other income 180,107.92 390,799.12 712,705.01 1,374,755.67  
  NON-INTEREST EXPENSES 6,316,506.72 12,405,344.88 19,394,774.70 27,134,541.07  
  (1) Compensation/Fringe Benefits 2,062,942.97 4,134,122.90 6,383,480.19 8,663,156.70  
  (2) Taxes and Licenses 578,471.83 1,055,555.91 1,698,165.66 2,425,504.76  
  (3) Fees and Commissions 18,250.21 49,086.97 75,272.97 96,087.07  
  (4) Other Administrative Expenses 2,807,797.36 5,605,115.21 8,665,206.37 12,198,470.39  
  (5) Depreciation/Amortization 657,332.80 1,172,713.82 1,746,247.42 2,344,173.20  
  (6) Impairment Losses 2,564.73 2,564.73 4,130.68 5,384.19  
  (7) Provisions 189,146.83 386,185.35 822,271.42 1,401,764.76  
  LOSSES/RECOVERIES ON FINANCIAL ASSETS (651,975.82) (1,397,295.21) (2,250,651.60) (3,315,207.00)  
  (1) Provision for Credit Losses on Loans & Other Fin'l Assets (720,426.25) (1,530,891.02) (2,273,681.92) (3,378,331.24)  
  (2) Bad Debts Written Off (13,626.49) (24,017.72) (36,175.25) (47,803.60)  
  (3) Recovery on Charged-Off Assets 82,076.92 157,613.53 59,205.57 110,927.84  
  NET PROFIT BEFORE SHARE IN THE PROFIT/(LOSS) OF UNCONSOLIDATED SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES ACCOUNTED FOR USING THE EQUITY METHOD 1,201,857.81 2,418,280.50 5,342,483.42 6,738,227.56  
  Share in the Profit/(Loss) of Unconsolidated Subsidiaries, Associates and Joint Ventures Accounted for Using the Equity Method (7,158.85) (17,574.88) (23,899.92) (18,613.68)  
  TOTAL PROFIT/LOSS BEFORE TAX AND BEFORE MINORITY INTEREST 1,194,698.95 2,400,705.62 5,318,583.50 6,719,613.88  
  Income Tax Expense 334,692.05 605,946.58 1,397,503.92 2,208,607.38  
  TOTAL PROFIT/LOSS AFTER TAX AND BEFORE MINORITY INTEREST 860,006.91 1,794,759.04 3,921,079.58 4,511,006.51  
  Minority Interest in Profit/(Loss) of Subsidiaries 0.00 0.00 0.00 0.00  
  NET PROFIT OR LOSS 860,006.91 1,794,759.04 3,921,079.58 4,511,006.51