40   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES AND KEY RATIOS
Thrift Banking System
for the periods indicated
in billion pesos
	Selected Accounts			THRIFT BANKS
				March 2008 r/	Jun-08	Sep-08
	Income and Expense Accounts
		Interest Income		9.385	18.835	28.403
		Interest Expense		4.491	8.842	13.393
		Provision for Losses on Accrued Interest Income from Financial Assets		0.000	0.000	0.000
	Net Interest Income			4.894	9.992	15.010
	Non-Interest Income			1.940	3.482	5.310
		Dividend Income		0.000	0.001	0.001
		Fees and Commissions Income		1.010	1.998	3.135
			Payment Services	0.068	0.142	0.212
			Intermediation Services	0.531	1.081	1.655
			Custodianship	0.000	0.000	0.000
			Underwriting and Securities Dealership	0.000	0.000	0.000
			Securitization Activities	0.000	0.000	0.000
			Income from Fiduciary Activities	0.023	0.048	0.132
			Others	0.388	0.727	1.135
		Gains/(Losses) on Financial Assets and Liabilities Held for Trading		0.215	0.200	0.220
		Gains/(Losses) on Financial Assets and Liabilities Designated at Fair Value through Profit or Loss		0.052	0.052	0.053
		Foreign Exchange Profit/(Loss)		0.117	0.197	0.299
		Gains/(Losses) from Sale/Redemption/Derecognition of Non-Trading Financial Assets and Liabilities		0.174	0.196	0.222
		Gains/(Losses) on Fair Value Adjustment in Hedge Accounting		0.000	0.005	(0.013)
		Gains/(Losses) from Sale/Derecognition of Non-Financial Assets		0.060	0.216	0.410
			Bank Premises, Furniture, Fixture and Equipment	0.011	0.012	(0.016)
			ROPA	0.048	0.202	0.430
			Goodwill	0.000	0.000	0.000
			Other Intangibles	0.001	0.001	(0.003)
		Other Income		0.312	0.618	0.983
	Non-Interest Expense			5.884	11.630	17.768
		Compensation/Fringe Benefits		1.987	3.923	5.900
		Taxes and Licenses		0.575	1.118	1.666
		Fees and Commissions Expenses		0.009	0.019	0.039
		Other Administrative Expenses		2.497	5.150	7.938
		Depreciation/Amortization		0.383	0.805	1.270
		Impairment Losses		0.000	0.000	0.000
			Investment in Subsidiaries, Associates and Joint Ventures	0.000	0.000	0.000
			Bank Premises, Furniture, Fixture and Equipment	0.000	0.000	0.000
			ROPA	0.000	0.000	0.000
			Goodwill	0.000	0.000	0.000
			Other Intangible Assets	0.000	0.000	0.000
			Other Assets	0.000	0.000	0.000
		Provisions		0.433	0.614	0.954
	Losses/Recoveries on Financial Assets			(0.135)	(0.569)	(1.169)
		Provision for Credit Losses on Loans and Receivables and Other Financial Assets		(0.198)	(0.685)	(1.340)
		Bad Debts Written Off		(0.041)	(0.082)	(0.116)
		Recovery on Charged-Off Assets		0.104	0.197	0.287
	Net Profit Before Share in the Profit/(Loss) of Unconsolidated Subsidiaries, Associates and Joint Ventures Accounted for Using the Equity Method			0.815	1.275	1.383
	Share in the Profit/(Loss) of Unconsolidated Subsidiaries, Associates and Joint Ventures Accounted for Using the Equity Method			0.003	0.010	0.030
		Share in the Profit/(Loss) of Unconsolidated Subsidiaries		0.000	0.000	0.000
		Share in the Profit/(Loss) of Associates		0.003	0.010	0.030
		Share in the Profit/(Loss) of Joint Ventures		0.000	0.000	0.000
	Total Profit/Loss Before Tax and Before Minority Interest			0.818	1.285	1.413
		Income Tax Expense		0.261	0.592	0.623
	Total Profit/Loss After Tax and Before Minority Interest			0.557	0.693	0.789
		Minority Interest in Profit/(Loss) of Subsidiaries (for consolidated report only)		0.000	0.000	0.000
	Net Profit or Loss			0.557	0.693	0.789
	Key  Ratios
	Earning Asset Yield 1/			9.97	10.09	9.75
	Funding Cost 2/			4.48	4.57	4.51
	Interest Spread 3/			5.48	5.52	5.24
	Net Interest Margin 4/			5.28	5.30	5.12
	Net Interest Income to Total Operating Income			74.76	76.01	75.34
	Cost to Income Ratio 5/			91.18	93.31	91.57
	Return on Assets			(0.03)	(0.14)	0.04
	Return on Equity			(0.28)	(1.16)	0.34
	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 10 December 2008