54   CONSOLIDATED STATEMENT OF INCOME AND EXPENSES AND KEY RATIOS
Rural Banking System
for the periods indicated
in billion pesos
	Selected Accounts			Mar-11
	Income and Expense Accounts			5.029
		Interest Income		5.608
		Interest Expense		1.604
		Provision for Losses on Accrued Interest Income from Financial Assets		0.003
	Net Interest Income			4.001
	Non-Interest Income			1.028
		Dividend Income		0.000
		Fees and Commissions Income		0.518
			Payment Services	0.117
			Intermediation Services	0.167
			Custodianship	0.000
			Underwriting and Securities Dealership	0.000
			Securitization Activities	0.000
			Income from Fiduciary Activities	0.000
			Others	0.234
		Gains/(Losses) on Financial Assets and Liabilities Held for Trading		0.000
		Gains/(Losses) on Financial Assets and Liabilities Designated at Fair Value through Profit or Loss		0.000
		Foreign Exchange Profit/(Loss)		0.000
		Gains/(Losses) from Sale/Redemption/Derecognition of Non-Trading Financial Assets and Liabilities		0.006
		Gains/(Losses) on Fair Value Adjustment in Hedge Accounting		0.000
		Gains/(Losses) from Sale/Derecognition of Non-Financial Assets		0.056
			Bank Premises, Furniture, Fixture and Equipment	0.003
			ROPA	0.052
			Goodwill	0.000
			Other Intangibles	0.000
		Other Income		0.448
	Non-Interest Expense			3.807
		Compensation/Fringe Benefits		1.354
		Taxes and Licenses		0.309
		Fees and Commissions Expenses		0.028
		Other Administrative Expenses		1.330
		Depreciation/Amortization		0.247
		Impairment Losses		0.021
			Investment in Subsidiaries, Associates and Joint Ventures	0.000
			Bank Premises, Furniture, Fixture and Equipment	0.000
			ROPA	0.019
			Impairment Losses - Non-Current Assets Held for Sale	0.000
			Goodwill	0.000
			Other Intangible Assets	0.000
			Other Assets	0.001
		Provisions		0.520
	Losses/Recoveries on Financial Assets			(0.026)
		Provision for Credit Losses on Loans and Receivables and Other Financial Assets		(0.037)
		Bad Debts Written Off		(0.001)
		Recovery on Charged-Off Assets		0.012
	Net Profit Before Share in the Profit/(Loss) of Unconsolidated Subsidiaries, Associates and Joint Ventures Accounted for Using the Equity Method			1.196
	Share in the Profit/(Loss) of Unconsolidated Subsidiaries, Associates and Joint Ventures Accounted for Using the Equity Method			0.000
		Share in the Profit/(Loss) of Unconsolidated Subsidiaries		0.000
		Share in the Profit/(Loss) of Associates		0.000
		Share in the Profit/(Loss) of Joint Ventures		0.000
	Total Profit/Loss Before Tax and Before Minority Interest			1.196
		Income Tax Expense		0.223
	Total Profit/Loss After Tax and Before Minority Interest			0.973
		Minority Interest in Profit/(Loss) of Subsidiaries (for consolidated report only)		0.000
	Net Profit or Loss			0.973
	Key  Ratios
	Earning Asset Yield 1/			15.58
	Funding Cost 2/			4.96
	Interest Spread 3/			10.62
	Net Interest Margin 4/			11.03
	Net Interest Income to Total Operating Income			79.40
	Cost to Income Ratio 5/			77.90
	Return on Assets			1.83
	Return on Equity			10.64
	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 21 November 2011