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 />
42 Segment Information<br />
(a) Primary <strong>Report</strong>ing Format – Business Segments (continued)<br />
Notes:<br />
1 Segment profit before tax represents segment income less operating expenses that are directly attributable, and those that<br />
can be allocated on a reasonable basis, to a segment. Inter-segment transactions are charged at internal transfer prices,<br />
estimated based on the costs in providing the products and services, and after taking into account competitive market<br />
prices that are charged to unaffiliated customers.<br />
2 Segment assets and liabilities comprise operating assets and liabilities that are directly attributable, and those that can be<br />
allocated on a reasonable basis, to a segment.<br />
Business segment information is stated after elimination of inter-segment transactions.<br />
The Group’s businesses are organised into five segments, based on the types of products and services that it provides worldwide.<br />
These segments are Individual <strong>Bank</strong>ing, Institutional <strong>Bank</strong>ing, Global Treasury, Investment <strong>Bank</strong>ing, and Others that include<br />
mainly property-related activities.<br />
Individual <strong>Bank</strong>ing<br />
The Group’s Individual <strong>Bank</strong>ing segment encompasses personal financial services and private banking. The personal financial<br />
services business delivers a wide array of consumer services that includes the issue of credit and debit cards, loans and mortgages,<br />
deposit services and investment advisory services. Private <strong>Bank</strong>ing offers wealth management services for high networth individuals.<br />
Institutional <strong>Bank</strong>ing<br />
Institutional <strong>Bank</strong>ing encompasses commercial credit, corporate banking and capital markets. The commercial credit business<br />
serves the small and medium-sized enterprises, while corporate banking serves the large corporations, institutions and governments.<br />
Both commercial credit and corporate banking provide customers with a broad range of products and services that include<br />
financing options, trade services, custody services and cash management services. The capital markets business offers corporate<br />
finance services, including initial public offering and corporate advisory services.<br />
Global Treasury<br />
The Group’s Global Treasury segment extends a wide range of treasury capabilities in foreign exchange, money market, fixed<br />
income, derivatives, leveraged trading and futures broking. It is a dominant player in Singapore dollar treasury instruments and<br />
a major primary dealer in Singapore Government securities. Global Treasury also provides banknotes services and a full range of<br />
gold products, and continues to lead in the provision of Singapore dollar cheque clearing services to correspondent banks.<br />
Investment <strong>Bank</strong>ing<br />
Investment <strong>Bank</strong>ing comprises asset management, venture capital management, insurance and proprietary investment activities.<br />
Others<br />
Other operations of the Group include stockbroking and property-related activities.<br />
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