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 />
19 Revenue Reserves (continued)<br />
(b) The <strong>Bank</strong><br />
<strong>2002</strong> 2001<br />
General Retained General Retained<br />
Reserve Profits Total Reserve Profits Total<br />
$'000 $'000 $'000 $'000 $'000 $'000<br />
Balance at 1 January<br />
As previously reported 829,321 1,276,920 2,106,241 616,321 1,248,225 1,864,546<br />
Prior year adjustments resulting<br />
from adoption of revised SAS 12 – 42,710 42,710 – 42,710 42,710<br />
As restated 829,321 1,319,630 2,148,951 616,321 1,290,935 1,907,256<br />
Net profit for the financial year<br />
attributable to members – 1,432,026 1,432,026 – 746,639 746,639<br />
Transfer to general reserve 328,000 (328,000) – 213,000 (213,000) –<br />
Transfer to statutory reserve (Note 18) (669,193) (72,000) (741,193) – (187,000) (187,000)<br />
Transfer from capital reserve (Note 18) – 1,000,109 1,000,109 – – –<br />
Dividends:<br />
Final dividend in respect of financial<br />
year ended 31 December 2001<br />
(2001: 31 December 2000) of 25 cents<br />
(2001: 25 cents) per share paid,<br />
net of tax at 22% (2001: 24.5%) – (306,454) (306,454) – (198,713) (198,713)<br />
Interim dividend in respect of financial<br />
year ended 31 December <strong>2002</strong><br />
(2001: 31 December 2001) of 15 cents<br />
(2001: 15 cents) per share paid,<br />
net of tax at 22% (2001: 24.5%) – (183,874) (183,874) – (119,231) (119,231)<br />
Interim dividend in respect of financial<br />
year ended 31 December <strong>2002</strong> of<br />
18.76 cents per share paid in specie,<br />
net of tax at 22% [Note 19(c)] – (230,020) (230,020) – – –<br />
– (720,348) (720,348) – (317,944) (317,944)<br />
Balance at 31 December 488,128 2,631,417 3,119,545 829,321 1,319,630 2,148,951<br />
120