UOB Annual Report 2002 - United Overseas Bank

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