54 Income Statement          
             
             
  Rural Bank Group          
  as of end of periods indicated          
  amounts in thousand Pesos          
             
   
  Selected Accounts Mar-12 Jun-12 Sep-12 Dec-12  
   
  TOTAL OPERATING INCOME   5,202,690.22 10,582,695.00 16,214,741.29 20,874,810.66  
  Interest Income 5,620,263.78 11,270,612.70 17,119,954.26 21,794,499.26  
  Interest Expense 1,571,903.40 3,130,535.67 4,608,649.63 5,774,547.60  
  Provision for Losses on Accrued Interest Income from Financial Assets 4,966.26 5,175.65 166,702.52 3,383.96  
  Net Interest Income 4,043,394.12 8,134,901.38 12,344,602.11 16,016,567.70  
  Non-Interest income 1,159,296.09 2,447,793.62 3,870,139.18 4,858,242.96  
  (1) Dividend Income 74.49 9.60 282.24 1,434.30  
  (2) Fees and Commissions Income 601,350.05 1,213,068.33 2,060,062.96 2,534,196.35  
  (3) Trading Income 174,062.81 462,398.80 658,853.93 822,868.10  
  (a) Realized Gains/(Losses) from Sale/Redemption 0.00 0.00 0.00 0.00  
  (b) Unrealized Gains/(Losses) from Marking-to-Market 0.00 0.00 0.00 0.00  
  (c) Realized Gains/(Losses) from FX Transactions 0.00 0.00 0.00 0.00  
  (d) Foreign Exchange Profit/(Loss) 68.84 210.74 (1,831.43) (515.79)  
  (e) Profit/(Loss) from Sale/Redemption/Derecognition of Non-Trading Fin'l Assets & Liabilities 6,870.50 76,152.16 78,927.90 95,877.42  
  (f) Profit/(Loss) from Sale/Derecognition of Non-Fin'l Assets 167,123.48 386,035.90 581,757.45 727,506.47  
  (g) Profit/(Loss) on Financial Assets and Liabilities DFVPL 0.00 0.00 0.00 0.00  
  (h) Profit/(Loss) on Fair Value Adjustment in Hedge Accounting 0.00 0.00 0.00 0.00  
  (4) Other income 383,080.69 772,316.88 1,150,543.60 1,499,343.47  
  NON-INTEREST EXPENSES 3,781,803.99 8,083,563.46 12,246,576.67 16,186,690.99  
  (1) Compensation/Fringe Benefits 1,467,821.04 3,060,420.22 4,585,499.02 6,028,040.74  
  (2) Taxes and Licenses 286,951.75 552,389.17 818,782.71 1,184,461.53  
  (3) Fees and Commissions 43,756.06 135,924.05 211,533.01 306,049.08  
  (4) Other Administrative Expenses 1,418,651.61 2,894,065.69 4,374,378.21 5,683,157.34  
  (5) Depreciation/Amortization 261,772.49 533,408.96 810,140.14 1,036,804.94  
  (6) Impairment Losses 109,243.37 231,014.46 334,800.37 405,100.18  
  (7) Provisions 193,607.65 676,340.92 1,111,443.21 1,543,077.17  
  LOSSES/RECOVERIES ON FINANCIAL ASSETS (266,284.75) (114,029.80) (206,686.37) (404,779.32)  
  (1) Provision for Credit Losses on Loans & Other Fin'l Assets (288,971.97) (154,297.28) (279,776.74) (422,284.83)  
  (2) Bad Debts Written Off (4,578.10) (6,630.89) (9,066.57) (45,343.08)  
  (3) Recovery on Charged-Off Assets 27,265.32 46,898.37 82,156.94 62,848.60  
  NET PROFIT BEFORE SHARE IN THE PROFIT/(LOSS) OF UNCONSOLIDATED SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES ACCOUNTED FOR USING THE EQUITY METHOD 1,154,601.48 2,385,101.74 3,761,478.26 4,283,340.36  
  Share in the Profit/(Loss) of Unconsolidated Subsidiaries, Associates and Joint Ventures Accounted for Using the Equity Method 0.00 0.00 0.00 0.00  
  TOTAL PROFIT/LOSS BEFORE TAX AND BEFORE MINORITY INTEREST 1,154,601.48 2,385,101.74 3,761,478.26 4,283,340.36  
  Income Tax Expense 217,054.54 446,835.33 804,846.08 996,811.32  
  TOTAL PROFIT/LOSS AFTER TAX AND BEFORE MINORITY INTEREST 937,546.94 1,938,266.41 2,956,632.17 3,286,529.03  
  Minority Interest in Profit/(Loss) of Subsidiaries 0.00 0.00 0.00 0.00  
  NET PROFIT OR LOSS 937,546.94 1,938,266.41 2,956,632.17 3,286,529.03