Group Total Assets and Return On Average Total Assets (ROA)

Total Assets
1999: S$106.5 billion (+6.4%)
1998: S$100.0 billion

The increase was due mainly to the consolidation of KOB's assets.

Return on Average Total Assets
1999: 1.04% (+0.9 percentage points)
1998: 0.14%

The increase in ROA was due to the higher net profit in 1999.

Group Total Shareholders' Funds and Return on Average Total Shareholders' Funds

Total Shareholders' Funds
1999: S$10.9 billion (+10.8%)
1998: S$9.8 billion

Return on Average Total Shareholders' Funds
1999: 10.35% (+9.06 percentage points)
1998: 1.29%

The increase in ROE was due to higher profit in 1999. The impact of adopting equity accounting for the Group's investments in associated companies was to increase the Group's shareholders' funds by S$881.0 million at end - December 1999.

Group Share Capital and Earnings Per Ordinary Share (EPS)

Ordinary Share Capital
1999: S$1,177.8 million (+26.9%)
1998: S$928.1 million

Preference Share Capital
1999: S$147.0 million (-76.9%)
1998: S$636.8 million

Earnings Per Ordinary Share Basic
1999: S$0.97 (+870.0%)
1998: S$0.10
Fully diluted
1999: S$0.87 (+770.0%)
1998: S$0.10

Pursuant to the "Restructuring Scheme" effective on 18 September 1999, DBSH issued 1,077,970,304 ordinary shares of par value S$1.00 each and 246,162,491 non-voting convertible preference shares of par value S$1.00 each, credited as fully paid to the then existing shareholders of DBS Bank in exchange for all the ordinary shares and non-voting convertible preferences shares of DBS Bank.

The non-redeemable convertible preference shares of par value S$2.00 each were entirely converted to ordinary shares in 1999.