13   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES AND KEY RATIOS
Universal and Commercial Banking System
for the periods indicated
in billion pesos
	Selected Accounts				UNIVERSAL AND COMMERCIAL BANKS
					Mar-08	Jun-08
	Income and Expense Accounts
		Interest Income			61.757	124.242
		Interest Expense			29.403	56.003
		Provision for Losses on Accrued Interest Income from Financial Assets			0.002	0.004
	Net Interest Income				32.352	68.235
	Non-Interest Income				22.275	38.970
		Dividend Income			0.070	0.201
		Fees and Commissions Income			9.067	18.042
			Payment Services		0.712	1.310
			Intermediation Services		4.104	8.560
			Custodianship		0.114	0.244
			Underwriting and Securities Dealership		0.024	0.133
			Securitization Activities		0.000	0.000
			Income from Fiduciary Activities		1.242	2.206
			Others		2.870	5.589
		Gains/(Losses) on Financial Assets and Liabilities Held for Trading			(0.962)	(2.675)
		Gains/(Losses) on Financial Assets and Liabilities Designated at Fair Value through Profit or Loss			0.016	0.225
		Foreign Exchange Profit/(Loss)			5.166	8.393
		Gains/(Losses) from Sale/Redemption/Derecognition of Non-Trading Financial Assets and Liabilities			4.184	5.282
		Gains/(Losses) on Fair Value Adjustment in Hedge Accounting			0.000	0.000
		Gains/(Losses) from Sale/Derecognition of Non-Financial Assets			2.276	4.071
			Bank Premises, Furniture, Fixture and Equipment		0.118	0.179
			ROPA		2.147	3.888
			Goodwill		0.000	0.000
			Other Intangibles		0.011	0.003
		Other Income			2.459	5.430
	Non-Interest Expense				38.646	77.388
		Compensation/Fringe Benefits			12.191	25.935
		Taxes and Licenses			3.877	7.311
		Fees and Commissions Expenses			0.636	1.183
		Other Administrative Expenses			15.186	31.177
		Depreciation/Amortization			3.536	6.759
		Impairment Losses			0.002	0.164
			Investment in Subsidiaries, Associates and Joint Ventures		0.000	0.000
			Bank Premises, Furniture, Fixture and Equipment		0.000	0.000
			ROPA		0.001	0.157
			Goodwill		0.000	0.000
			Other Intangible Assets		0.000	0.000
			Other Assets		0.001	0.008
		Provisions			3.219	4.859
	Losses/Recoveries on Financial Assets				(1.489)	(4.291)
		Provision for Credit Losses on Loans and Receivables and Other Financial Assets			(1.248)	(3.712)
		Bad Debts Written Off			(0.671)	(1.381)
		Recovery on Charged-Off Assets			0.430	0.802
	Net Profit Before Share in the Profit/(Loss) of Unconsolidated Subsidiaries, Associates and Joint Ventures Accounted for Using the Equity Method				14.492	25.527
	Share in the Profit/(Loss) of Unconsolidated Subsidiaries, Associates and Joint Ventures Accounted for Using the Equity Method				1.577	3.699
		Share in the Profit/(Loss) of Unconsolidated Subsidiaries			1.194	3.062
		Share in the Profit/(Loss) of Associates			0.383	0.637
		Share in the Profit/(Loss) of Joint Ventures			0.000	0.000
	Total Profit/Loss Before Tax and Before Minority Interest				16.069	29.226
		Income Tax Expense			2.756	6.866
	Total Profit/Loss After Tax and Before Minority Interest				13.313	22.359
		Minority Interest in Profit/(Loss) of Subsidiaries (for consolidated report only)			0.000	0.000
	Net Profit or Loss				13.313	22.359
	Key  Ratios
	Earning Asset Yield 1/				7.37	7.10
	Funding Cost 2/				3.12	2.98
	Interest Spread 3/				4.25	4.12
	Net Interest Margin 4/				4.03	3.93
	Net Interest Income to Total Operating Income				58.34	60.06
	Cost to Income Ratio 5/				64.81	67.61
	Return on Assets				1.28	1.15
	Return on Equity				11.09	10.58
	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 7 October 2008