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PERFORMANCE AT A GLANCE
 
Financial Summary - DBS Group Holdings Ltd and its Subsidiary Companies
 
2004
2003

2002
Profit and Loss ($ millions)
Operating profit
2,435
1,386
1,473
Net profit attributable to members (NPAM)
2,018
1,025
1,097
NPAM excluding goodwill amortisation
2,458
1,455
1,375
 
Balance Sheet ($ millions)
Total assets
175,553
159,595
149,445
Customer loans
69,664
64,335
60,709
Customer deposits
113,206
108,041
101,315
Total shareholders’ funds
16,502
14,896
14,237
 
Per Ordinary Share ($)
Basic earnings
1.34
0.68
0.74
Basic earnings excluding goodwill amortisation
1.64
0.98
0.93
Gross dividend
0.40
0.30
0.30
Net assets backing
10.76
9.75
9.30
 
Selected Ratios (%)
Return on average total shareholders’ funds
12.85
7.04
7.94
Return on average total shareholders’ funds (excluding goodwill amortisation)
15.66
9.99
9.95
Operating expenses as % of income before operating expenses
40.7
43.9
44.6
Capital adequacy1
    Tier 1
11.3
10.5
10.3
    Total
15.8
15.1
15.5
       
1) Ratios for 2004 were computed based on the MAS capital framework issued on May 28 2004. Comparatives were not restated and were
    computed using Bank for International Settlements guidelines.



  Financial Highlights        
           
  Group Net Profit Attributable To
Members		   Group Income before Operating
Expenses & Ratio of Operating Expense
to Income before Operating Expenses		   Group Net Interest Income and
Non-Interest Income
 

2004: $2,018 million (+97%)
2003: $1,025 million





Income before Operating Expenses
2004: $4,928 million (+17%)
2003: $4,198 million





Net Interest Income
2004: $2,566 million (+8%)
2003: $2,375 million
  Group net attributable to members in 2004 included one-time gains of $310 million from disposal of a subsidiary company DBS Thai Danu Bank Public Company Limited and $187 million from sale of equity investment in Wing Lung Bank.

Ratio of Operating Expenses to Income before Operating Expenses*
2004: 40.7% (-3.2 percentage points)
2003: 43.9%

* Excluding goodwill amortisation
Non-Interest Income
2004: $2,362 million (+30%)
2003: $1,823 million
           
  Group Total Shareholders’ Funds
and Return on Average Total
Shareholders’ Funds (ROE)		   Group Total Assets and Return on
Average Total Assets (ROA)		   Capital Adequacy Ratio (CAR)1




Total Shareholders’ Funds
2004: $16.5 billion (+11%)
2003: $14.9 billion




Total Assets
2004: $175.6 billion (+10%)
2003: $159.6 billion




Total (Tier 1 & 2)
2004: 15.8%
2003: 15.1%

ROE*
2004: 15.66% (+5.67 percentage points)
2003: 9.99%

* Excluding goodwill amortisation

ROA*
2004: 1.47% (+0.53 percentage points)
2003: 0.94%

* Excluding goodwill amortisation
Tier 1
2004: 11.3%
2003: 10.5%
           

1) Ratios for 2004 were computed based on the MAS capital framework issued on May 28 2004. Comparatives were not restated and were
    computed using Bank for International Settlements guidelines.