UOB Annual Report 2002 - United Overseas Bank
UOB Annual Report 2002 - United Overseas Bank
UOB Annual Report 2002 - United Overseas Bank
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Notes to the Financial Statements<br />
for the financial year ended 31 December <strong>2002</strong><br />
7 Rental Income<br />
Rental income represents income from the tenanted areas of the buildings owned by the <strong>Bank</strong> and its subsidiaries.<br />
8 Other Operating Income<br />
The Group<br />
The <strong>Bank</strong><br />
<strong>2002</strong> 2001 <strong>2002</strong> 2001<br />
$'000 $'000 $'000 $'000<br />
Net profit on dealing securities,<br />
government treasury bills and securities,<br />
and derivatives 57,544 79,956 21,524 52,178<br />
Net profit on foreign exchange dealings 82,250 137,095 67,009 106,990<br />
Net profit on disposal of investment securities<br />
and associates 78,342 16,098 106,867 8,935<br />
Net profit on disposal of fixed assets 11,512 39,992 10,145 33,461<br />
Net profit/(loss) on disposal and<br />
liquidation of subsidiaries 2 (6,546) 1,236 (11,712)<br />
Other income 69,622 63,496 57,110 55,444<br />
299,272 330,091 263,891 245,296<br />
Net profit on disposal of investment securities and associates includes mainly the profit arising from the divestment of an<br />
associate, Haw Par Corporation Limited, through distribution in specie of shares to shareholders.<br />
9 Staff Costs<br />
(a)<br />
The Group<br />
The <strong>Bank</strong><br />
<strong>2002</strong> 2001 <strong>2002</strong> 2001<br />
$'000 $'000 $'000 $'000<br />
Wages and salaries 449,935 370,115 280,996 178,355<br />
Employer’s contributions to Central Provident Fund 52,174 41,199 32,455 21,574<br />
Other staff-related costs 34,245 31,343 22,723 15,777<br />
536,354 442,657 336,174 215,706<br />
(b)<br />
The Group<br />
The <strong>Bank</strong><br />
<strong>2002</strong> 2001 <strong>2002</strong> 2001<br />
Number of employees at the balance sheet date 10,320 12,142 4,974 3,125<br />
106