UOB Annual Report 2002 - United Overseas Bank

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Group Financial Review Securities Analysed by Issuer Type 2002 2001 –––––––––––––––––––––––––––––––––––––– –––––––––––––––––––––––––––––––––––––– $ million % $ million % –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Government 9,594 67.1 10,561 71.2 Public sector 8 0.1 52 0.4 Bank 652 4.6 915 6.2 Corporate 3,564 24.9 3,162 21.3 Others 483 3.3 126 0.9 –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Total 14,301 100.0 14,816 100.0 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Securities Analysed by Industry 2002 2001 –––––––––––––––––––––––––––––––––––––– –––––––––––––––––––––––––––––––––––––– $ million % $ million % –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Transport, storage and communication 559 4.2 508 3.7 Building and construction 321 2.4 348 2.6 Manufacturing 606 4.5 224 1.6 Financial institutions 1,537 11.4 1,357 9.9 General commerce 72 0.5 90 0.7 Government 9,416 69.9 10,173 74.3 Others 962 7.1 987 7.2 –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Non-dealing 13,473 100.0 13,687 100.0 Dealing 828 1,129 –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Total securities 14,301 14,816 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Customer Loans The Group's net loans and advances to customers as at 31 December 2002 were $2,008 million or 3.3% lower than as at 31 December 2001. This resulted mainly from a decrease in the term loans and overdraft portfolios which was partially offset by an increase in the housing loans portfolio. Customer Loans by Type 2002 2001 –––––––––––––––––––––––––––––––––––––– –––––––––––––––––––––––––––––––––––––– $ million % $ million % –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Housing loans (13,841) 22.2 13,298 20.7 Term loans 35,253) 56.5 36,940 57.5 Trade financing 2,915) 4.7 2,825 4.4 Overdrafts 10,330) 16.6 11,148 17.4 –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Total gross customer loans 62,339) 100.0 64,211 100.0 Less: General provision (1,425) (1,435) Specific provision and interest-in-suspense (2,030) (1,884) ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Net customer loans 58,884) 60,892 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– 72
Gross Customer Loans Analysed by Currency and Fixed/Variable Rates 2002 2001 –––––––––––––––––––––––––––––––––––––––––--------–––––––––––––––––––––– –––––––––––––––––––––––––––––––––––––––––--------–––––––––––––––––––––– Fixed Rate Variable Rate Total Fixed Rate Variable Rate Total $ million $ million $ million $ million $ million $ million ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Singapore Dollars 13,724 27,645 41,369 12,584 29,149 41,733 US Dollars 747 7,391 8,138 1,538 7,902 9,440 Malaysian Ringgit 166 5,762 5,928 79 6,167 6,246 Hong Kong Dollars 40 1,426 1,466 20 1,726 1,746 Thai Baht 534 501 1,035 573 294 867 Others 1,059 3,344 4,403 582 3,597 4,179 –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Group Total 16,270 46,069 62,339 15,376 48,835 64,211 –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– For a breakdown of Group loans and advances by remaining maturity and industry, please refer to Notes 28(b) and 28(c) to the Financial Statements respectively. Credit Facilities to Related Parties The Group has granted credit facilities to the following related parties in the ordinary course of business on normal terms and conditions. The outstanding amounts of these credit facilities as at 31 December 2002 were as follows: 2002 2001 ––––––––––––––––––––––––––––––––––––––– ––––––––––––––––––––––––––––––––––––––– Loans Off-Balance Loans Off-Balance and Sheet Credit and Sheet Credit Advances Facilities* Advances Facilities* $ million $ million $ million $ million –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Associates of the Group Financial activities 52 15 33 4 Non-financial activities 567 90 925 55 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Directors of the Bank and director-related parties + 792 155 594 173 –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Corporations where the directors of the Bank are also directors # 2,493 141 1,988 147 –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– * Off-balance sheet credit facilities comprise direct credit substitutes, transaction-related contingencies and trade-related contingencies. + Director-related parties include the immediate family members of the directors of the Bank, entities in which a director of the Bank or his family members have a substantial shareholding, and credit facilities guaranteed by the directors of the Bank. # This excludes credit facilities already included in the first two categories. However, it includes credit facilities granted to the subsidiaries of the corporations in this category. UNITED OVERSEAS BANK 73
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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
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 and 64: processes in place that will suppor
Page 65 and 66: Group Financial Review Review of Fi
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: Overview of Balance Sheet Assets Mi
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
Page 115 and 116: 2002 2001 Fair Value of Depreciable
Page 117 and 118: Deferred tax assets and liabilities
Page 119 and 120: 18 Non-Distributable Reserves (a) T
Page 121 and 122: 19 Revenue Reserves (a) The Group 2
Page 123 and 124: (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
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The Group - 2001 Non- Over 7 Over O
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The Group - 2002 Over 7 Over Over O
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The Group - 2001 Over 7 Over Over O
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Where quoted and observable market
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Percentage of Paid-Up Capital Held
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Page 171 and 172:
Investor Reference Financial Highli
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1998 1997 1996 1995 1994 1993 1992
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1998 1997 1996 1995 1994 1993 1992
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Statistics of Shareholdings as at 1
Page 179 and 180:
Changes in Share Capital The follow
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Our International Network Banking S
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United Overseas Bank (Malaysia) Bhd
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UOB Venture Management (Shanghai) C
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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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