UOB Annual Report 2002 - United Overseas Bank

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Financial Highlights Group Shareholders' Funds 2002: $12,653 million – 0.5% 2001: $12,717 million Group Net Profit After Tax 2002: $1,064.2 million + 15.1% 2001: $924.6 million 1100 13000 1000 12000 900 11000 800 10000 700 $ million 9000 8000 7000 $ million 600 500 400 6000 300 5000 200 4000 100 1998 1999 2000 2001 2002 1998 1999 2000 2001 2002 $ 5,878 6,191 6,968 12,717 12,653 $ 332 760 913 925 1,064 US$ 3,540 3,715 4,023 6,870 7,289 US$ 200 456 527 500 613 Group Capital Adequacy Ratios (BIS) Total Capital 2002: 15.3% – 3.2% points 2001: 18.5% Group Adjusted Earnings Per Share 2002: 67.7 cents – 12.4% 2001: 77.3 cents Tier 1 Capital 2002: 12.2% + 0.4% point 2001: 11.8% 30 27 100 24 90 21 80 18 70 % 15 12 cents 60 50 9 40 6 30 3 20 1998 1999 2000 2001 2002 Total Capital 21.4% 21.7% 19.8% 18.5% 15.3% Tier 1 Capital 18.6% 18.6% 17.1% 11.8% 12.2% 1998 1999 2000 2001 2002 ¢ 31.7 72.4 86.8 77.3 67.7 US¢ 19.1 43.4 50.1 41.8 39.0 Total Capital Tier 1 Capital 8
Group Return On Average Shareholders' Funds 2002: 8.3% – 2.5% points 2001: 10.8% Group Return On Average Total Assets 2002: 0.98% – 0.18% point 2001: 1.16% 2.0 18 1.8 16 1.6 14 1.4 12 1.2 % 10 % 1.0 8 0.8 6 0.6 4 0.4 2 0.2 1998 1999 2000 2001 2002 UOB Group 5.7% 12.6% 13.5% 10.8% 8.3% Major Local 4.4% 10.6% 12.1% 9.6% 7.7% Bank Groups UOB Group Average Rate of Major Local Bank Groups 1998 1999 2000 2001 2002 UOB Group 0.7% 1.4% 1.5% 1.2% 1.0% Major Local 0.5% 1.2% 1.4% 1.0% 0.8% Bank Groups UOB Group Average Rate of Major Local Bank Groups Dividends Dividend Payment 2002: $720.4 million + 69.3% 2001: $425.6 million Dividend Cover 2002: 2.2 times 2001: 2.2 times $ million 800 700 600 500 400 300 # 45% 40% 40% ## 58.8% 9 8 7 6 5 4 3 times 200 100 18% 2 1 1998 1999 2000 2001 2002 $ 133 416 316 426 720 US$ 80 250 183 230 415 times 2.5 5.0 + 2.9 2.2 2.2 + + Dividend Payment Dividend Cover Dividend Rate + Dividend cover is 1.8 times if the special tax exempt bonus dividend is included. + + Dividend cover is 1.5 times if the interim dividend in specie of 18.8% is included. # Includes special tax exempt bonus dividend of 25%. ## Includes interim dividend in specie of 18.8%. UNITED OVERSEAS BANK 9
Page 1 and 2: ANNUAL REPORT 2002 United for Growt
Page 3 and 4: Our Mission To be a premier bank in
Page 5 and 6: Performance in Brief Profit For The
Page 7 and 8: Profit growth was derived mainly fr
Page 9: Financial Highlights Group Assets 2
Page 13 and 14: Corporate Information Honorary Life
Page 15 and 16: Left to right: Koh Beng Seng, Ngiam
Page 17 and 18: Left to right: Tan Kok Quan, Prof L
Page 19 and 20: Mr Francis Lee Chin Yong Managing D
Page 21 and 22: The Bank has a budget for directors
Page 23 and 24: independent and non-executive direc
Page 25 and 26: work of each of the banking subsidi
Page 27 and 28: Risk Management Credit and Country
Page 29 and 30: The composition of loans and advanc
Page 31 and 32: Group Non-Performing Loans (NPLs) a
Page 33 and 34: Group NPLs and Cumulative Provision
Page 35 and 36: Group Specific Provision by Region
Page 37 and 38: Collateral Types The majority of th
Page 39 and 40: Exposure to the Five Regional Count
Page 41 and 42: Cross-Border Exposure to the Five R
Page 43 and 44: Complementing the static analysis i
Page 45 and 46: Sources of Deposits The Group has a
Page 47 and 48: The VaR calculations are performed
Page 49 and 50: Group Daily VaR Distribution for 20
Page 51 and 52: As part of the Group's comprehensiv
Page 53 and 54: The celebratory light-up linking UO
Page 55 and 56: services so as to meet the increasi
Page 57 and 58: Our subsidiary, UOB Asset Managemen
Page 59 and 60: Grow our services In line with the
Page 61 and 62:
exercise, achieved well ahead of th
Page 63 and 64:
processes in place that will suppor
Page 65 and 66:
Group Financial Review Review of Fi
Page 67 and 68:
Group Profits The Group achieved a
Page 69 and 70:
Analysis of Changes in Net Interest
Page 71 and 72:
Cost Savings from Integration The G
Page 73 and 74:
Overview of Balance Sheet Assets Mi
Page 75 and 76:
Gross Customer Loans Analysed by Cu
Page 77 and 78:
Capital Adequacy Ratios The Capital
Page 79 and 80:
Directors’ Report for the financi
Page 81 and 82:
In addition, the following subsidia
Page 83 and 84:
Arrangements to Enable Directors to
Page 85 and 86:
Ability to Meet Obligations No cont
Page 87 and 88:
Share Options of the Bank (a) From
Page 89 and 90:
(d) (e) (f) No options have been gr
Page 91 and 92:
Statement by Directors for the fina
Page 93 and 94:
Income Statements for the financial
Page 95 and 96:
The Group The Bank Note 2002 2001 2
Page 97 and 98:
The Group 2001 Non- Share of Share
Page 99 and 100:
The Bank 2001 Non- Share Share Dist
Page 101 and 102:
Notes to the Financial Statements f
Page 103 and 104:
(e) Investments (i) Singapore Gover
Page 105 and 106:
(k) Derivative Financial Instrument
Page 107 and 108:
4 Interest Expense The Group The Ba
Page 109 and 110:
(c) Equity Compensation Benefits Op
Page 111 and 112:
11 Directors’ Fees and Other Remu
Page 113 and 114:
14 Tax (a) The tax charge to the in
Page 115 and 116:
2002 2001 Fair Value of Depreciable
Page 117 and 118:
Deferred tax assets and liabilities
Page 119 and 120:
18 Non-Distributable Reserves (a) T
Page 121 and 122:
19 Revenue Reserves (a) The Group 2
Page 123 and 124:
(c) The interim dividend paid in sp
Page 125 and 126:
23 Debts Issued The Group The Bank
Page 127 and 128:
(b) Included in other government tr
Page 129 and 130:
(c) Total gross trade bills and adv
Page 131 and 132:
29 Other Assets The Group The Bank
Page 133 and 134:
32 Investments in Subsidiaries (a)
Page 135 and 136:
33 Movements in the Provisions for
Page 137 and 138:
34 Fixed Assets (a) The Group 2002
Page 139 and 140:
(e) Certain freehold and leasehold
Page 141 and 142:
39 Derivative Financial Instruments
Page 143 and 144:
(c) Derivative financial instrument
Page 145 and 146:
The Group - 2001 Individual Institu
Page 147 and 148:
(b) Secondary Reporting Format - Ge
Page 149 and 150:
Discussions on the main financial r
Page 151 and 152:
The Group - 2002 Hong Singapore US
Page 153 and 154:
Other foreign exchange exposures of
Page 155 and 156:
The Group - 2002 Non- Over 7 Over O
Page 157 and 158:
The Group - 2001 Non- Over 7 Over O
Page 159 and 160:
The Group - 2002 Over 7 Over Over O
Page 161 and 162:
The Group - 2001 Over 7 Over Over O
Page 163 and 164:
Where quoted and observable market
Page 165 and 166:
Percentage of Paid-Up Capital Held
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Investor Reference Financial Highli
Page 173 and 174:
1998 1997 1996 1995 1994 1993 1992
Page 175 and 176:
1998 1997 1996 1995 1994 1993 1992
Page 177 and 178:
Statistics of Shareholdings as at 1
Page 179 and 180:
Changes in Share Capital The follow
Page 181 and 182:
Our International Network Banking S
Page 183 and 184:
United Overseas Bank (Malaysia) Bhd
Page 185 and 186:
UOB Venture Management (Shanghai) C
Page 187 and 188:
Notes to Resolutions 4, 6, 7, 8, 9,
Page 189:
Notes: 1 Please insert the number o
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UOB Annual Report 2002 - United Overseas Bank

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