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| Performance At A Glance - DBSH Group
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2001 |
2000 |
1999 |
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| PROFIT AND LOSS (S$millions) |
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Operating profit |
1,672 |
1,685 |
1,964 |
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Net profit attributable to members |
999 |
1,389 |
1,072 |
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Cash basis net profit attributable to members |
1,131 |
1,389 |
1,072 |
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| BALANCE SHEET (S$millions) |
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Total assets |
151,294 |
111,208 |
106,465 |
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Customer loans |
68,208 |
52,024 |
54,370 |
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Customer deposits |
106,771 |
80,720 |
82,268 |
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Total shareholders?funds |
13,529 |
10,495 |
10,876 |
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| PER ORDINARY SHARE (S$) |
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Earning (Basic) |
0.78 |
1.13 |
0.97 |
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Cash Earning (Basic) |
0.89 |
1.13 |
0.97 |
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Gross dividend |
0.30 |
0.45 |
0.26 |
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Net tangible assets backing |
5.38 |
8.14 |
8.42 |
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| SELECTED RATIOS (%) |
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Return on average total shareholders?funds |
8.90 |
12.89 |
10.35 |
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Cash return on average total shareholders?funds |
10.07 |
12.89 |
10.35 |
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Operating expenses as % of net income 1 |
49.12 |
42.50 |
35.15 |
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Capital adequacy |
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Tier I |
12.20 |
14.40 |
15.70 |
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Total |
17.40 |
18.90 |
19.20 |
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1 Excluding goodwill amortisation |
 Financial Highlights
(S$ millions)
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| Group Net Profit After Tax |
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2001: S$999.1 million (-28.1%)
2000: S$1,388.8 million |
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| Group net profit decreased 28.1% to S$999.1 million largely due to higher loan provision. When measured on a cash basis, Group net profit decreased by 18.6% to S$1,130.5 million. |
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(S$ millions)
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| Group Net Interest Income And Non-Interest Income |
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Net Interest Income
2001: S$2,256.8 million (+10.7%)
2000: S$2,039.4 million |
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Non-Interest Income
2001: S$1,288.2 million (+44.5%)
2000: S$891.6 million |
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| Net interest income increased by 10.7% to S$2,256.8 million largely due to the acquisition of Dao Heng Bank Group (DHG). Loan demand was weak and intense competition in the residential mortgage market reduced interest earned on mortgages. |
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| The 44.5% increase in non-interest income was due to higher net gains on foreign exchange (S$110.8 million), securities and derivatives activities (S$71.1 million) and inclusion of profits from sales of shares in The Insurance Corporation of Singapore Ltd (S$120.1 million) and Keppel Capital Holdings (S$60.6 million). |
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(S$ millions)
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| Group Income Before Operating Expenses, Operating Expenses And Ratio of Operating Expenses To Income Before Operating Expenses |
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Income Before Operating Expenses
2001: S$3,545.0 million (+20.9%)
2000: S$2,931.0 million |
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Operating Expenses
2001: S$1,872.9 million (+50.4%)
2000: S$1,245.7 million |
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Ratio of Operating Expenses to Income Before Operating Expenses*
2001: 49.1% (+6.6 percentage points)
2000: 42.5% |
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| Operating expenses, excluding goodwill amortisation, increased 39.8% to S$1,741.5 million. The increase was mainly due to higher staff costs of S$120.8 million and the consolidation of DHG (S$218.4 million) and DBS Vickers Securities Holdings Pte Ltd (DBSV) (S$37.6 million). Technology-related expenses increased by S$47.6 million accounted for by the various business initiatives undertaken by the Group. Restructuring and integration costs of S$40.4 million were incurred for integrating the operations and processes of DHG (S$18.7 million), DBS Kwong On Bank (S$4.9 million) and DBSV (S$16.8 million). |
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| * Excluding goodwill amortisation |
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(S$ billions)
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| Group Total Shareholders?Funds And Return On Average Total Shareholders?Funds (ROE) |
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Total Shareholders?Funds
2001: S$13.5 billion (+28.9%)
2000: S$10.5 billion |
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ROE
2001: 8.90% (- 3.99 percentage points)
2000: 12.89% |
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| On a cash basis, ROE would be 10.07% for Year 2001. |
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(S$ billions)
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| Group Total Assets And Return On Average Total Assets (ROA) |
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Total Assets
2001: S$151.3 billion (+36.0%)
2000: S$111.2 billion |
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ROA
2001: 0.76% (-0.52 percentage points)
2000: 1.28% |
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| The consolidation of DHG contributed to the increase in total assets. |
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| On a cash basis, ROA would be 0.86% for Year 2001. |
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(S$ billions)
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| Capital Adequacy Ratio |
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Total (Tier I & II)
2001: 17.4%
2000: 18.9% |
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Tier I
2001: 12.2%
2000: 14.4% |
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| Total CAR, measured according to the Bank of International Settlements (BIS) guidelines was 17.4%, which is more than twice the minimum BIS requirement of 8.0%. |
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