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: