UOB Annual Report 2002 - United Overseas Bank

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Financial Highlights Group Total Income Net Interest Income 2002: $2,169 million + 51.8% 2001: $1,429 million Non-Interest Income 2002: $910 million + 14.5% 2001: $795 million Group Total Non-Performing Loans (NPLs) NPLs 2002: $5,679 million – 4.8% 2001: $5,968 million NPLs As A % Of Gross Non-Bank Loans 2002: 9.0% – 0.3% point 2001: 9.3% 4000 3500 7000 14 3000 3,079 6000 12 $ million 2500 2000 1,715 1,788 1,903 2,224 $ million 5000 4000 10 8 % 1500 3000 6 1000 2000 4 500 1000 2 1998 1999 2000 2001 2002 1998 1999 2000 2001 2002 $ 1,201 1,133 1,198 1,429 2,169 US$ 723 680 692 772 1,249 $ 514 655 704 795 910 US$ 310 393 406 429 524 Net Interest Income Non-Interest Income $ 2,072 2,834 2,462 5,968 5,679 US$ 1,248 1,701 1,421 3,224 3,272 % 7.1 9.8 7.8 9.3 9.0 NPLs NPLs (Excluding Debt Securities) As A % Of Gross Non-Bank Loans Group Total Cumulative Provisions Cumulative Specific Provision 2002: $2,079 million + 9.5% 2001: $1,899 million Cumulative General Provision 2002: $1,425 million – 0.7% 2001: $1,435 million Total Cumulative Provisions As A % Of Total NPLs 2002: 61.7% + 5.8% points 2001: 55.9% $ million 4000 3500 3000 2500 2000 1500 1000 1,518 1,774 1,664 3,334 3,504 80 70 60 50 40 30 20 % 500 10 1998 1999 2000 2001 2002 $ 735 955 896 1,899 2,079 US$ 443 573 517 1,026 1,198 $ 783 819 768 1,435 1,425 US$ 472 491 443 775 821 % 73.3 62.6 67.6 55.9 61.7 Specific Provision General Provision Cumulative Provisions As A % Of Total NPLs 10
Corporate Information Honorary Life Counsellor Dr Lien Ying Chow Board Of Directors Mr Wee Cho Yaw (Chairman & Chief Executive Officer) Mr Lee Hee Seng (Senior Deputy Chairman) Mr Wee Ee Cheong (Deputy Chairman & President) Mr Koh Beng Seng (Deputy President) Mr Ngiam Tong Dow Mr Ernest Wong Yuen Weng Mr Wong Meng Meng Mr Sim Wong Hoo Mr Philip Yeo Liat Kok Dr Cham Tao Soon Mr Tan Kok Quan Prof Lim Pin Mrs Margaret Lien Wen Hsien Mr Ng Boon Yew Executive Committee Mr Wee Cho Yaw (Chairman) Mr Lee Hee Seng (Deputy Chairman) Mr Wee Ee Cheong Mr Koh Beng Seng Mr Ngiam Tong Dow Audit Committee Mr Ernest Wong Yuen Weng (Chairman) Mr Philip Yeo Liat Kok Dr Cham Tao Soon Mr Tan Kok Quan Nominating Committee Mr Wong Meng Meng (Chairman) Mr Wee Cho Yaw Mr Lee Hee Seng Mr Sim Wong Hoo Dr Cham Tao Soon Share Registrar Lim Associates (Pte) Ltd 10 Collyer Quay #19-08 Ocean Building Singapore 049315 Telephone: (65) 6536 5355 Facsimile: (65) 6536 1360 Auditors PricewaterhouseCoopers 8 Cross Street #17-00 PWC Building Singapore 048424 Partner-in-charge: Mr Chua Kim Chiu (Appointed on 2 August 2002) Registered Office 80 Raffles Place UOB Plaza Singapore 048624 Telephone: (65) 6533 9898 Facsimile: (65) 6534 2334 Telex: RS 21539 TYEHUA SWIFT: UOVBSGSG Website: www.uobgroup.com Investor Relations 80 Raffles Place #16-22 UOB Plaza 2 Singapore 048624 Telephone: (65) 6539 4439/6539 4416 Facsimile: (65) 6538 0270 Email: InvestorRelations@UOBgroup.com Remuneration Committee Mr Wee Cho Yaw (Chairman) Mr Lee Hee Seng Dr Cham Tao Soon Mr Philip Yeo Liat Kok Prof Lim Pin Secretary Mrs Vivien Chan UNITED OVERSEAS BANK 11
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 and 10: Financial Highlights Group Assets 2
Page 11: Group Return On Average Shareholder
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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