UOB Annual Report 2002 - United Overseas Bank

The Group – 2001
Individual Institutional Global Investment
Banking Banking Treasury Banking Others Total
$’000 $’000 $’000 $’000 $’000 $’000
Income before operating expenses 716,629 846,299 414,506 85,338 161,319 2,224,091
Less: Operating expenses 313,001 262,084 114,175 49,238 39,441 777,939
Less: Provisions 22,796 108,549 33,829 (1,083) 704 164,795
Segment profit before tax 1 380,832 475,666 266,502 37,183 121,174 1,281,357
Unallocated corporate expenses (95,904)
1,185,453
Goodwill amortisation (47,806)
Operating profit after goodwill
amortisation and provisions 1,137,647
Exceptional items (11,997)
Share of profit of associates 71,912
Profit before tax 1,197,562
Tax and minority interests (272,983)
Net profit for the financial year
attributable to members 924,579
Other information:
Segment assets 2 22,832,255 42,298,876 38,948,249 3,126,387 1,035,266 108,241,033
Investment in associates 1,781,322
Goodwill 3,776,651
Unallocated assets 89,088
Total assets 113,888,094
Gross customer loans 22,797,682 41,413,244 – – – 64,210,926
Non-performing loans (“NPLs”) 1,494,628 4,449,406 – – – 5,944,034
Specific provision and
interest-in-suspense for
NPLs (cumulative) 376,248 1,508,082 – – – 1,884,330
Dealing securities (gross)
Debt securities* – – 801,744 123,720 – 925,464
Equity shares and unit trusts – – 5,825 197,499 – 203,324
Non-dealing securities (gross)
Debt securities* – 1,130,252 10,164,379 1,179,033 – 12,473,664
Equity shares – – 12,132 1,201,937 – 1,214,069
Segment liabilities 2 39,695,187 37,354,597 18,910,850 68,107 24,833 96,053,574
Debts issued
Asset backed commercial paper – – 518,058 – – 518,058
Subordinated notes 3,639,095
Provision for current and deferred tax 498,974
Unallocated liabilities 62,994
Total liabilities 100,772,695
Capital expenditure 19,776 26,888 5,839 1,714 57,998 112,215
Depreciation of fixed assets 17,102 26,341 3,445 1,176 48,055 96,119
* Include government treasury bills and securities.
UNITED OVERSEAS BANK 143