UOB Annual Report 2002 - United Overseas Bank

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Group Financial Review Review of Financial Performance • Highlights and Performance Indicators 63 • Merger of OUB into UOB 64 • Swift Integration of OUB into UOB 64 • Group Profits 65 • Financial Ratios 65 • Net Interest Income 65 • Non-Interest Income 67 • Operating Expenses 68 • Provisions Charged to Income Statement 70 Overview of Balance Sheet • Total Assets 71 • Securities 71 • Customer Loans 72 • Deposits 74 • Loans/Deposits Ratio 74 • Shareholders' Funds 74 Capital Adequacy Ratios 75 Certain figures in this section may not add up to the relevant totals due to rounding. Certain comparative figures have been restated to conform with the current year’s presentation. Certain comparative figures for 2001 have been restated for impact of adopting the revised Singapore Statement of Accounting Standard (SAS) 12: Income Taxes and Interpretation of SAS (INT) 5: Consolidation – Special Purpose Entities. United for Growth
Group Financial Review Review of Financial Performance Highlights and Performance Indicators Increase/ 2002 2001* Decrease (%) ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Key Indicators Net interest income (NII) ($ million) 2,169 1,429 + 51.8 Non-interest income ($ million) 910 795 + 14.5 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Total income ($ million) 3,079 2,224 + 38.4 Total expenses ($ million) 1,074 874 + 22.9 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Operating profit before goodwill and provisions ($ million) 2,005 1,350 + 48.5 Net profit after tax (NPAT) ($ million) 1,064 925 + 15.1 NPAT (excluding goodwill) ($ million) 1,260 972 + 29.6 Income mix: Net interest income/Total income (%) 70.4 64.3 + 6.1% points Non-interest income/Total income (%) 29.6 35.7 - 6.1% points 100.0 100.0 – Profit (before tax and goodwill) contribution: Onshore (%) 63.7 70.8 - 7.1% points Offshore (including ACU) (%) 36.3 29.2 + 7.1% points 100.0 100.0 – Return on average shareholders' funds (ROE) (%) 8.3 10.8 - 2.5% points ROE (excluding goodwill) (%) 9.8 11.3 - 1.5% points Earnings per share (EPS) Basic (cents) 67.7 77.3 - 12.4 Excluding goodwill (cents) 80.2 81.3 - 1.4 Return on average total assets (ROA) (%) 0.98 1.16 - 0.18% point ROA (excluding goodwill) (%) 1.16 1.22 - 0.06% point NII/Average interest bearing assets (%) 2.26 2.06 + 0.20% point Expense/Income ratio (%) 34.9 39.3 - 4.4% points * Including three months’ profit contribution from OUB Group. UNITED OVERSEAS BANK 63
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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
Page 13 and 14: Corporate Information Honorary Life
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: processes in place that will suppor
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
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2002 2001 Fair Value of Depreciable
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Deferred tax assets and liabilities
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18 Non-Distributable Reserves (a) T
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19 Revenue Reserves (a) The Group 2
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(c) The interim dividend paid in sp
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23 Debts Issued The Group The Bank
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(b) Included in other government tr
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(c) Total gross trade bills and adv
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29 Other Assets The Group The Bank
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32 Investments in Subsidiaries (a)
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33 Movements in the Provisions for
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34 Fixed Assets (a) The Group 2002
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(e) Certain freehold and leasehold
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39 Derivative Financial Instruments
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(c) Derivative financial instrument
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The Group - 2001 Individual Institu
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(b) Secondary Reporting Format - Ge
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Discussions on the main financial r
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The Group - 2002 Hong Singapore US
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Other foreign exchange exposures of
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The Group - 2002 Non- Over 7 Over O
Page 157 and 158:
The Group - 2001 Non- Over 7 Over O
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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
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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,
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Notes: 1 Please insert the number o
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UOB Annual Report 2002 - United Overseas Bank

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