54 Income Statement          
             
             
  Rural Bank Group          
  as of end of periods indicated          
  amounts in thousand Pesos          
             
   
  Selected Accounts Mar-15 Jun-15 Sep-15 Dec-15  
   
  TOTAL OPERATING INCOME   6,006,213.75 9,920,012.58 15,048,664.06 20,718,070.38  
  Interest Income 5,902,962.14 9,059,924.94 13,743,876.76 18,477,216.00  
  Interest Expense 1,304,447.99 1,799,658.91 2,673,951.39 3,507,056.81  
  Provision for Losses on Accrued Interest Income from Financial Assets 14,757.18 4,508.36 17,778.48 23,855.40  
  Net Interest Income 4,583,756.97 7,255,757.67 11,052,146.90 14,946,303.79  
  Non-Interest income 1,422,456.78 2,664,254.91 3,996,517.17 5,771,766.59  
  (1) Dividend Income 2,388.47 3.73 19.35 6,682.40  
  (2) Fees and Commissions Income 772,800.00 1,645,403.88 2,447,756.30 3,375,954.93  
  (3) Trading Income 241,432.32 509,269.53 814,851.08 1,335,948.47  
  (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) 387.98 1,315.55 3,491.13 4,412.87  
  (e) Profit/(Loss) from Sale/Redemption/Derecognition of Non-Trading Fin'l Assets & Liabilities 9,326.91 25,130.83 43,778.24 237,934.36  
  (f) Profit/(Loss) from Sale/Derecognition of Non-Fin'l Assets 231,691.60 482,365.88 767,199.97 1,045,248.49  
  (g) Profit/(Loss) on Financial Assets and Liabilities DFVPL 25.83 457.28 381.73 48,352.74  
  (h) Profit/(Loss) on Fair Value Adjustment in Hedge Accounting 0.00 0.00 0.00 0.00  
  (4) Other income 404,868.89 508,561.77 729,565.89 1,047,503.06  
  NON-INTEREST EXPENSES 4,296,520.98 7,588,392.83 11,370,106.24 15,757,301.72  
  (1) Compensation/Fringe Benefits 1,775,002.18 3,120,795.26 4,651,178.98 6,511,410.48  
  (2) Taxes and Licenses 416,622.98 633,820.06 939,280.33 1,371,033.07  
  (3) Fees and Commissions 63,029.37 27,987.96 62,463.54 76,143.30  
  (4) Other Administrative Expenses 1,466,595.77 2,799,303.67 4,191,451.06 5,757,673.01  
  (5) Depreciation/Amortization 298,930.48 558,886.81 841,531.62 1,145,625.39  
  (6) Impairment Losses 100,659.70 1,936.20 31,047.57 54,784.70  
  (7) Provisions 175,680.50 445,662.87 653,153.14 840,631.77  
  LOSSES/RECOVERIES ON FINANCIAL ASSETS (482,699.82) (306,100.35) (524,803.71) (788,286.47)  
  (1) Provision for Credit Losses on Loans & Other Fin'l Assets (500,947.02) (331,675.16) (560,610.63) (829,683.06)  
  (2) Bad Debts Written Off (9,954.38) (13,720.06) (29,894.59) (105,646.80)  
  (3) Recovery on Charged-Off Assets 28,201.58 39,294.87 65,701.50 147,043.40  
  NET PROFIT BEFORE SHARE IN THE PROFIT/(LOSS) OF UNCONSOLIDATED SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES ACCOUNTED FOR USING THE EQUITY METHOD 1,226,992.95 2,025,519.41 3,153,754.11 4,172,482.18  
  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 1,226,992.95 2,025,519.41 3,153,754.11 4,172,482.18  
  Income Tax Expense 264,490.87 455,249.30 749,434.37 1,085,751.30  
  TOTAL PROFIT/LOSS AFTER TAX AND BEFORE MINORITY INTEREST 962,502.08 1,570,270.11 2,404,319.74 3,086,730.88  
  Minority Interest in Profit/(Loss) of Subsidiaries 0.00 0.00 0.00 0.00  
  NET PROFIT OR LOSS 962,502.08 1,570,270.11 2,404,319.74 3,086,730.88