PHILIPPINE FOREIGN CURRENCY DEPOSIT SYSTEM      
Universal and Commercial Banks & Thrift Banks        
Comparative Statement of Earnings and Expenses        
For the Periods Ended Indicated        
(In US$ Millions)        
         
INCOME & EXPENSE ACCOUNTS  July 2007 - June 2008  July 2008 - June 2009     Increase/(Decrease)
 Amount  % Change
   
NET PROFIT OR LOSS                       616.331                       476.355                   (139.975)                       (22.71)
   
Total Operating Income                   724.561                   787.954                      63.393                          8.75
   
Net Interest Income               482.672               623.921                    141.249                        29.26
   
         Interest Income                    1,341.057                    1,088.219                   (252.838)                       (18.85)
         Interest Expense                       858.385                       463.606                   (394.780)                       (45.99)
         Provision for Losses on Accrued Interest Income from  
              Financial Assets                                 -                             0.693                        0.693                              -  
   
Non-Interest Income               241.889               164.033                     (77.857)                       (32.19)
   
         Dividend Income        
         Fees and Commissions Income                         51.699                         55.396                        3.697                          7.15
         Gains/(Losses) on Financial Assets and Liabilities  
              Held for Trading                       147.319                        (27.944)                   (175.263)                     (118.97)
         Gains/(Losses) on Financial Assets and Liabilities  
              Designated at Fair Value through Profit or Loss                          (1.199)                           0.062                        1.261                     (105.21)
         Foreign Exchange Profits/(Losses)                        (52.504)                         84.183                    136.687                     (260.34)
         Gains/(Losses) on Sale/Redemption/Derecognition of  
              Non-Trading Financial Assets and Liabilities                         79.633                         27.782                     (51.851)                       (65.11)
         Gains/(Losses) on Fair Value Adjustment in Hedge  
              Accounting                           0.102                          (1.618)                       (1.720)                  (1,691.21)
         Gains/(Losses) from Sale/Derecognition of Non-  
              Financial Assets                           0.033                          (0.041)                       (0.074)                     (226.63)
         Other Income                         16.806                         26.212                        9.406                        55.97
   
Non-Interest Expenses                     94.857                     93.972                       (0.885)                         (0.93)
   
Compensation/Fringe Benefits                 23.037                 16.543                       (6.493)                       (28.19)
Taxes and Licenses                   7.412                   2.365                       (5.047)                       (68.09)
Fees and Commissions Expenses                   4.892                   7.573                        2.682                        54.82
Other Administrative Expenses                 60.868                 62.561                        1.692                          2.78
Depreciation/Amortization                   1.732                   1.861                        0.129                          7.44
Impairment Losses                  (6.633)                         -                          6.633                     (100.00)
Provisions                   3.549                   3.069                       (0.480)                       (13.54)
   
     Losses/Recoveries on Financial Assets                          (0.309)                      (203.759)                   (203.451)                 65,873.80
   
        Bad Debts Written Off/Prov. for Credit Losses on Loans                          (0.493)                      (203.907)                   (203.414)                 41,221.86
        Recovery on Charged-Off Assets                           0.185                           0.148                       (0.037)                       (20.08)
   
     Net Profit Before Share in the Profit/(Loss) of  
     Unconsolidated Subsidiaries, Associates and Joint  
     Ventures Accounted for Using the Equity Method                       629.396                       490.223                   (139.173)                       (22.11)
   
     Share in the Profit/(Loss) of Unconsolidated  
     Subsidiaries, Associates and Joint Ventures        
   
     Total Profit/Loss Before Tax and Before Minority  
     Interest                       629.396                       490.223                   (139.173)                       (22.11)
   
     Income Tax Expense                         13.065                         13.868                        0.802                          6.14
   
     Total Profit/Loss After Tax and Before Minority  
     Interest                       616.331                       476.355                   (139.975)                       (22.71)
   
     Minority Interest in Profit/(Loss) of Subsidiaries        
   
Source:  July - December 2007: General Ledger - Consolidated Statement of Income and Expenses (GL-CSIE)    
                January - June 2008: Financial Reporting Package (FRP) Solo Basis - Income Statement  
                July 2008 - June 2009: Financial Reporting Package (FRP) Solo Basis - Income Statement