40   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES AND KEY RATIOS
Thrift Banking System
for the periods indicated
in billion pesos
	Selected Accounts			March 2011
	Income and Expense Accounts			8.888
		Interest Income		11.135
		Interest Expense		3.797
		Provision for Losses on Accrued Interest Income from Financial Assets		0.058
	Net Interest Income			7.280
	Non-Interest Income			1.609
		Dividend Income		0.000
		Fees and Commissions Income		1.001
			Payment Services	0.054
			Intermediation Services	0.544
			Custodianship	0.000
			Underwriting and Securities Dealership	0.000
			Securitization Activities	0.000
			Income from Fiduciary Activities	0.027
			Others	0.376
		Gains/(Losses) on Financial Assets and Liabilities Held for Trading		(0.331)
		Gains/(Losses) on Financial Assets and Liabilities Designated at Fair Value through Profit or Loss		(0.001)
		Foreign Exchange Profit/(Loss)		0.024
		Gains/(Losses) from Sale/Redemption/Derecognition of Non-Trading Financial Assets and Liabilities		0.286
		Gains/(Losses) on Fair Value Adjustment in Hedge Accounting		0.000
		Gains/(Losses) from Sale/Derecognition of Non-Financial Assets		0.222
			Bank Premises, Furniture, Fixture and Equipment	0.004
			ROPA	0.215
			Goodwill	0.000
			Other Intangibles	0.003
		Other Income		0.408
	Non-Interest Expense			6.317
		Compensation/Fringe Benefits		2.161
		Taxes and Licenses		0.616
		Fees and Commissions Expenses		0.031
		Other Administrative Expenses		2.622
		Depreciation/Amortization		0.574
		Impairment Losses		0.011
			Investment in Subsidiaries, Associates and Joint Ventures	0.000
			Bank Premises, Furniture, Fixture and Equipment	0.000
			ROPA	0.011
			Impairment Losses - Non-Current Assets Held for Sale
			Goodwill	0.000
			Other Intangible Assets	0.000
			Other Assets	0.000
		Provisions		0.303
	Losses/Recoveries on Financial Assets			(0.326)
		Provision for Credit Losses on Loans and Receivables and Other Financial Assets		(0.360)
		Bad Debts Written Off		(0.007)
		Recovery on Charged-Off Assets		0.042
	Net Profit Before Share in the Profit/(Loss) of Unconsolidated Subsidiaries, Associates and Joint Ventures Accounted for Using the Equity Method			2.246
	Share in the Profit/(Loss) of Unconsolidated Subsidiaries, Associates and Joint Ventures Accounted for Using the Equity Method			(0.011)
		Share in the Profit/(Loss) of Unconsolidated Subsidiaries		(0.019)
		Share in the Profit/(Loss) of Associates		0.012
		Share in the Profit/(Loss) of Joint Ventures		(0.004)
	Total Profit/Loss Before Tax and Before Minority Interest			2.235
		Income Tax Expense		0.376
	Total Profit/Loss After Tax and Before Minority Interest			1.859
		Minority Interest in Profit/(Loss) of Subsidiaries (for consolidated report only)		0.000
	Net Profit or Loss			1.859
	Key  Ratios
	Earning Asset Yield 1/			9.09
	Funding Cost 2/			3.50
	Interest Spread 3/			5.59
	Net Interest Margin 4/			5.65
	Net Interest Income to Total Operating Income			70.64
	Cost to Income Ratio 5/			71.55
	Return on Assets			1.00
	Return on Equity			8.50
	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
	6/ 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 21 November 2011