Notes to the Financial Statements for the financial year ended 31 December <strong>2002</strong> 44 Financial Risk Management (c) Interest Rate Risk (continued) The Group – 2001 Non- Over 7 Over Over Over Total Effective Interest Up to Days to 1 to 3 3 to 12 1 to 3 Over Interest Interest Total Bearing 7 Days 1 Month Months Months Years 3 Years Bearing Rate $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 % Assets Cash and balances with central banks 3,329,827 3,329,827 – – – – – – – – Government treasury bills and securities 10,529,193 – 18,300 1,341,663 2,135,759 2,180,855 2,335,009 2,517,607 10,529,193 3.54 Placements and balances with banks and agents 24,687,340 37,460 5,443,105 7,903,518 3,694,198 7,451,830 109,621 47,608 24,649,880 2.86 Trade bills and advances to customers 60,892,094 – 20,827,428 16,100,213 7,348,703 6,483,402 7,843,418 2,288,930 60,892,094 5.55 Dealing and investment securities 3,638,114 1,554,586 9,040 99,850 180,489 903,939 583,081 307,129 2,083,528 4.44 Investments in associates 1,781,322 1,779,254 – – – – 2,068 – 2,068 1.50 Goodwill 3,776,651 3,776,651 – – – – – – – – Others 4,705,007 4,705,007 – – – – – – – – 113,339,548 15,182,785 26,297,873 25,445,244 13,359,149 17,020,026 10,873,197 5,161,274 98,156,763 – Assets attributable to SPE 548,546 Total assets 113,888,094 154
The Group – 2001 Non- Over 7 Over Over Over Total Effective Interest Up to Days to 1 to 3 3 to 12 1 to 3 Over Interest Interest Total Bearing 7 Days 1 Month Months Months Years 3 Years Bearing Rate $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 % Liabilities Current, fixed, savings accounts and other deposits of non-bank customers 74,451,684 6,749,568 23,058,979 19,585,026 11,491,515 13,029,302 375,723 161,571 67,702,116 1.93 Deposits and balances of banks and agents, and bills and drafts payable 18,218,984 125,177 5,810,760 4,374,135 5,163,894 2,745,018 – – 18,093,807 2.95 Debts issued 3,639,095 – – – 2,345,343 – – 1,293,752 3,639,095 4.46 Others 3,914,386 3,914,386 – – – – – – – – Liabilities attributable to SPE 548,546 Total liabilities 100,772,695 100,224,149 10,789,131 28,869,739 23,959,161 19,000,752 15,774,320 375,723 1,455,323 89,435,018 – Shareholders’ funds and minority interests 13,115,399 13,115,399 – – – – – – – – 113,888,094 Net on-balance sheet position (8,721,745) (2,571,866) 1,486,083 (5,641,603) 1,245,706 10,497,474 3,705,951 8,721,745 – Net off–balance sheet position – 202,472 381,312 351,082 (491,907) (339,452) (103,507) – – Net interest rate sensitivity gap (8,721,745) (2,369,394) 1,867,395 (5,290,521) 753,799 10,158,022 3,602,444 8,721,745 – Actual repricing dates may differ from contractual dates because prepayments and contractual terms do not reflect the actual behavioural patterns of assets and liabilities. Therefore, the Group manages its interest rate risk by applying dynamic simulation modelling techniques on the above information, which is based on contractual terms. UNITED OVERSEAS BANK 155
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ANNUAL REPORT 2002 United for Growt
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Our Mission To be a premier bank in
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Performance in Brief Profit For The
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Profit growth was derived mainly fr
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Financial Highlights Group Assets 2
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Group Return On Average Shareholder
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Corporate Information Honorary Life
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Left to right: Koh Beng Seng, Ngiam
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Left to right: Tan Kok Quan, Prof L
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Mr Francis Lee Chin Yong Managing D
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The Bank has a budget for directors
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independent and non-executive direc
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work of each of the banking subsidi
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Risk Management Credit and Country
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The composition of loans and advanc
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Group Non-Performing Loans (NPLs) a
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Group NPLs and Cumulative Provision
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Group Specific Provision by Region
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Collateral Types The majority of th
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Exposure to the Five Regional Count
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Cross-Border Exposure to the Five R
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Complementing the static analysis i
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Sources of Deposits The Group has a
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The VaR calculations are performed
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Group Daily VaR Distribution for 20
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As part of the Group's comprehensiv
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The celebratory light-up linking UO
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services so as to meet the increasi
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Our subsidiary, UOB Asset Managemen
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Grow our services In line with the
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exercise, achieved well ahead of th
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processes in place that will suppor
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Group Financial Review Review of Fi
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Group Profits The Group achieved a
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Analysis of Changes in Net Interest
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Cost Savings from Integration The G
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Overview of Balance Sheet Assets Mi
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Gross Customer Loans Analysed by Cu
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Capital Adequacy Ratios The Capital
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Directors’ Report for the financi
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In addition, the following subsidia
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Arrangements to Enable Directors to
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Ability to Meet Obligations No cont
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Share Options of the Bank (a) From
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(d) (e) (f) No options have been gr
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Statement by Directors for the fina
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Income Statements for the financial
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The Group The Bank Note 2002 2001 2
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The Group 2001 Non- Share of Share
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The Bank 2001 Non- Share Share Dist
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Notes to the Financial Statements f
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(e) Investments (i) Singapore Gover
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