The supplementary financial statements of DBS Bank Ltd the Bank are extracted from the Audited Statutory Financial
Statements of DBS Bank Ltd and its subsidiaries the Bank Group for the financial year ended 31 December 2014. The statutory
financial statements of the Bank and the Bank Group which contained an unqualified audit report, will be delivered to the
Accounting Corporate Regulatory Authority in accordance with the Singapore Companies Act.
1 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES
The accounting policies applied by the Bank and the Bank Group are consistent with those applied by the Group as disclosed in
Note 2 of the “Notes to the Financial Statements” Notes in the Group’s Consolidated Financial Statements.
2 OTHER INCOME
Other income includes the following:
In millions 2014
2013
Dividends from subsidiaries 243
193 Dividends from associates
19 41
Total 262
234
3 SUBSIDIARIES
In millions 2014
2013
Unquoted equity shares
ab
11,846 11,837
Due from subsidiaries 6,795
6,382 Total
18,641 18,219
a The carrying amounts of certain investments which are designated as
hedged items in a fair value hedge are adjusted for fair value changes attributable to the hedged risks
b The carrying amounts presented are net of impairment allowances
4 DUE TO SUBSIDIARIES
In millions 2014
2013
Subordinated term debts issued to DBS Capital Funding Corporation II
Note 4.1
1,500 1,500
Due to subsidiaries 12,841
7,891 Total
14,341 9,391
4.1 The 1,500 million 5.75 subordinated note was issued on
27 May 2008 by the Bank to DBS Capital Funding II Corporation, both wholly-owned subsidiaries of DBSH. Interest is payable semi-
annually on 15 June and 15 December at a fixed rate of 5.75 per annum up to 15 June 2018. If these are not redeemed at the
tenth year, interest will be payable quarterly on 15 March, 15 June, 15 September and 15 December at a floating rate of three-month
Singapore Dollar Swap Offer Rate plus a stepped-up spread of 3.415 per annum.
Notes to the Supplementary Financial Statements
DBS Bank Ltd
for the year ended 31 December 2014
5 SHARE CAPITAL
Shares ’000 In millions
2014 2013
2014 2013
Ordinary shares Balance at 1 January
2,233,103 2,233,103
14,597 14,597
Issue of shares 256,278
– 5,000
– Redemption of preference shares
– –
1,700 –
Balance at 31 December 2,489,381
2,233,103 21,297
14,597
Preference shares Balance at 1 January
S1,700m 4.7 non-cumulative non-convertible perpetual preference shares
7 7
1,700 1,700
S800m 4.7 non-cumulative non-convertible perpetual preference shares 8,000
8,000 799
799
8,007 8,007
2,499 2,499
Redemption of preference shares 7
– 1,700
– Balance at 31 December
8,000 8,007
799 2,499
Issued share capital at 31 December 22,096
17,096
6 OTHER RESERVES
6.1 Other reserves
In millions 2014
2013
Available-for-sale revaluation reserves 288
10 Cash flow hedge reserves
33 14
General reserves 2,360
2,360 Capital reserves
43 62
Total 2,572
2,274 Movements in other reserves for the Bank during the year are as follows:
Available-for- Cash flow
sale revaluation hedge
General Capital
In millions reserves
reserves reserves
a
reserves
b
Total
2014 Balance at 1 January
10 14
2,360 62
2,274
Net exchange translation adjustments –
– –
19 19
Available-for-sale financial assets and others: – net valuation taken to equity
494 67
– –
427
– transferred to income statement 182
47 –
– 135
– tax on items taken directly to or transferred from equity 14
1 –
– 13
Balance at 31 December 288
33 2,360
43 2,572
2013 Balance at 1 January
630 1
2,360 10
2,979 Net exchange translation adjustments
– –
– 52
52 Available-for-sale financial assets and others:
– net valuation taken to equity 495
35 –
– 530
– transferred to income statement 184
21 –
– 163
– tax on items taken directly to or transferred from equity 39
1 –
– 40
Balance at 31 December 10
14 2,360
62 2,274
a The General reserves are maintained in accordance with the provisions of applicable laws and regulations. These reserves are non distributable unless otherwise
approved by the relevant authorities. Under the Banking Reserve Fund Transitional Provision regulations 2007, which came into effect on 11 June 2007, the Bank may distribute or utilise its statutory reserves provided that the amount distributed or utilised for each financial year does not exceed 20 of the reserves as at
30 March 2007 b Capital reserves include net exchange translation adjustments arising from translation differences on net investments in foreign branches and the related foreign
currency instruments designated as a hedge
6.2 Revenue reserves
