PWC Building is held as an investment property following the Group

Year ended 31 December 2012 37 Bank Non-investment properties In millions Investment properties Owner- occupied properties Other fixed assets a Subtotal of non- investment properties Total 2012 1 2 3 4=2+3 5=1+4 Cost Balance at 1 January 60 291 675 966 1,026 Additions b 2 - 261 261 263 Disposals 2 141 110 251 253 Transfers 9 9 - 9 - Exchange differences - 3 1 4 4 Balance at 31 December 69 138 825 963 1,032 Less: Accumulated depreciation Balance at 1 January 17 72 384 456 473 Depreciation charge 2 4 99 103 105 Disposals - 21 79 100 100 Transfers 2 2 - 2 - Exchange differences 5 4 - 4 1 Balance at 31 December 26 49 404 453 479 Less: Allowances for impairment - 1 - 1 1 Net book value at 31 December 43 88 421 509 552 Market value at 31 December 86 190 2011 Cost Balance at 1 January 72 304 582 886 958 Additions - 1 135 136 136 Disposals 2 24 42 66 68 Transfers 10 10 - 10 - Exchange differences - - - - - Balance at 31 December 60 291 675 966 1,026 Less: Accumulated depreciation Balance at 1 January 18 71 315 386 404 Depreciation charge 1 8 105 113 114 Disposals 3 6 36 42 45 Transferss 1 1 - 1 - Exchange differences - - - - - Balance at 31 December 17 72 384 456 473 Less: Allowances for impairment - 43 - 43 43 Net book value at 31 December 43 176 291 467 510 Market value at 31 December 43 293 a Refers to computer hardware, software, office equipment, furniture and fittings and other fixed assets b 2012 includes additions relating to the Bank’s move to Marina Bay Financial Centre

26.1 PWC Building is held as an investment property following the Group

’s move to Marina Bay Financial Centre in 2012. Its net book value was 404 million as at 31 December 2012 2011: 410 million and its fair value was independently appraised at 583 million 2011: 578 million. Year ended 31 December 2012 38 27 Deferred Tax AssetsLiabilities Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when the deferred income taxes relate to the same tax authority. The deferred tax assets and liabilities are to be recovered and settled after one year and the following amounts, determined after appropriate offsetting, are shown in the balance sheet. The Group Bank In millions 2012 2011 2012 2011 Deferred tax assets 91 149 28 60 Deferred tax liabilities 30 30 - - Total 61 119 28 60 The movement in deferred tax prior to offsetting of balances within the same tax jurisdiction is as follows: The Group In millions 2012 Deferred income tax assets Allowances for losses Other temporary differences Total Balance at 1 January 142 84 226 Charge to income statement 6 11 17 Balance at 31 December 136 73 209 Deferred income tax liabilities Accelerated tax depreciation Available-for-sale investments and others Other temporary differences Total Balance at 1 January 82 3 22 107 CreditCharge to income statement 7 - 10 3 Charge to equity - 44 - 44 Balance at 31 December 89 47 12 148 The Group In millions 2011 Deferred income tax assets Allowances for losses Other temporary differences Total Balance at 1 January 150 39 189 CreditCharge to income statement 8 45 37 Balance at 31 December 142 84 226 Deferred income tax liabilities Accelerated tax depreciation Available-for-sale investments and others Other temporary differences Total Balance at 1 January 86 34 7 127 CreditCharge to income statement 4 - 15 11 Credit to equity - 31 - 31 Balance at 31 December 82 3 22 107 Bank In millions 2012 Deferred income tax assets Allowances for losses Other temporary differences Total Balance at 1 January 74 39 113 Credit to income statement 7 3 10 Balance at 31 December 81 42 123 Deferred income tax liabilities Accelerated tax depreciation Available-for-sale investments and others Other temporary differences Total Balance at 1 January 32 3 18 53 CreditCharge to income statement 10 - 11 1 Charge to equity - 43 - 43 Balance at 31 December 42 46 7 95 Year ended 31 December 2012 39 Bank In millions 2011 Deferred income tax assets Allowances for losses Other temporary differences Total Balance at 1 January 96 18 114 CreditCharge to income statement 22 21 1 Balance at 31 December 74 39 113 Deferred income tax liabilities Accelerated tax depreciation Available-for-sale investments and others Other temporary differences Total Balance at 1 January 28 32 4 64 Charge to income statement 4 - 14 18 Credit to equity - 29 - 29 Balance at 31 December 32 3 18 53 28 Other Assets The Group Bank In millions 2012 2011 2012 2011 Accrued interest receivable 844 847 583 572 Deposits and prepayments 297 263 245 210 Clients’ monies receivable from securities business 778 435 - - Sundry debtors and others 6,754 8,206 4,227 4,151 Total 8,673 9,751 5,055 4,933 29 Due to Non-Bank Customers The Group Bank In millions 2012 2011 2012 2011 Due to non-bank customers 241,165 218,992 182,228 176,684 Due to non-bank customers which are at fair value through profit or loss Note 30 1,742 6,354 792 1,827 Total Due to non-bank customers 242,907 225,346 183,020 178,511 Analysed by currency Singapore dollar 131,000 122,992 130,652 122,234 US dollar 45,981 40,336 33,498 31,987 Hong Kong dollar 25,730 21,733 4,064 2,395 Others 40,196 40,285 14,806 21,895 Total 242,907 225,346 183,020 178,511 Analysed by product Savings accounts 103,512 97,314 91,247 87,345 Current accounts 42,841 38,145 36,800 33,413 Fixed deposits 91,959 82,922 51,351 51,727 Other deposits 4,595 6,965 3,622 6,026 Total 242,907 225,346 183,020 178,511 Year ended 31 December 2012 40 30 Financial Liabilities at Fair Value through Profit or Loss The Group Bank In millions 2012 2011 2012 2011 Trading Other debt securities in issue Note 32 2,373 2,443 2,373 2,430 Due to non-bank customers Note 29 – structured investments – others 792 - 1,531 235 792 - 1,531 235 Payable in respect of short sale of securities 1,843 2,068 820 969 Other financial liabilities 746 487 326 220 Sub-total 5,754 6,764 4,311 5,385 Fair value designated a Due to non-bank customers Note 29 – structured investments b 950 4,588 - 61 Other debt securities in issue Note 32 1,145 560 1,124 444 Sub-total 2,095 5,148 1,124 505 Total 7,849 11,912 5,435 5,890 a Changes in fair value arising from changes in credit risk are determined as the amount of change in their fair value that is not attributable to changes in market conditions that give rise to market risk. Changes in market conditions that give rise to market risk include changes in benchmark interest rate, foreign exchange rate or index of prices or rates. Change in fair value arising from change in credit risk is not significant. Net unrealised gain or loss for the fair value designated liabilities at 31 December 2012 amount to 10 million loss 2011: 73 million loss for the Group and 12 million gain 2011: 36 million gain for the Bank b Certain structured investments issued in 2012 are bifurcated and the host contract amounts are carried at amortised cost 31 Other Liabilities The Group Bank In millions 2012 2011 2012 2011 Cash collateral received in respect of derivative portfolios 745 821 745 821 Accrued interest payable 624 382 303 197 Provision for loss in respect of off-balance sheet credit exposures 226 250 207 236 Clients’ monies payable in respect of securities business 679 372 - - Sundry creditors and others 6,176 8,457 2,915 3,733 Total 8,450 10,282 4,170 4,987 32 Other Debt Securities in Issue The Group Bank In millions 2012 2011 2012 2011 Negotiable certificates of deposit a Note 32.1 1,149 2,767 - - Medium term notes Note 32.2 3,168 1,381 3,168 1,381 Commercial papers Note 32.3 5,820 6,228 5,820 6,228 Other debt securities in issue a Note 32.4 3,617 2,981 3,498 2,874 Total 13,754 13,357 12,486 10,483 Of which: debt securities issued at fair value through profit and loss Note 30 3,518 3,003 3,497 2,874 10,236 10,354 8,989 7,609 Due within 1 year 8,498 9,270 8,247 7,478 Due after 1 year 5,256 4,087 4,239 3,005 Total 13,754 13,357 12,486 10,483 a Includes debt securities issued at fair value through profit or loss Year ended 31 December 2012 41 32.1 Details of negotiable certificates of deposit issued and outstanding at 31 December are as follows: In million Interest Rate and Repayment Terms The Group Bank Currency 2012 2011 2012 2011 Issued by other subsidiaries CNH 1.95, payable quarterly - 10 - - CNH 1.6 to 2.99, payable semi-annually 48 34 - - CNH 2.8, payable yearly 88 - - - HKD 0.4 to 4.22, payable quarterly 462 931 - - HKD 3M HIBOR + 0.3 to 0.9, payable quarterly 244 258 - - HKD 1.5 to 4.2, payable yearly 307 422 - - HKD Zero coupon certificate of deposit, payable on maturity - 657 - - USD Zero coupon certificate of deposit, payable on maturity - 165 - - JPY Zero coupon certificate of deposit, payable on maturity - 168 - - GBP Zero coupon certificate of deposit, payable on maturity - 122 - - Total 1,149 2,767 - - HIBOR: Hong Kong Interbank Offer Rate The negotiable certificates of deposit were issued by DBS Bank Hong Kong Limited under its HKD 28 billion Certificate of Deposit Programme. The outstanding negotiable certificates of deposit as at 31 December 2012 were issued between 21 August 2008 and 31 January 2012 2011: 21 August 2008 and 20 December 2011 and mature between 16 January 2013 and 16 March 2021 2011: 18 January 2012 and 25 November 2021.

32.2 Details of medium term notes issued and outstanding at 31 December are as follows: