UOB Annual Report 2002 - United Overseas Bank

Group Financial Review
Review of Financial Performance
Highlights and Performance Indicators
Increase/
2002 2001* Decrease (%)
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Key Indicators
Net interest income (NII) ($ million) 2,169 1,429 + 51.8
Non-interest income ($ million) 910 795 + 14.5
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Total income ($ million) 3,079 2,224 + 38.4
Total expenses ($ million) 1,074 874 + 22.9
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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