Presentation: Stronger recurring income offsets lower treasury income
Stronger recurring income
offsets lower treasury income
October 28, 2005
DBS Group Holdings
3Q 2005 Financial Results
Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or
distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents.
Third-quarter earnings up 28%
($ million)
YoY %
change
2005
2004
Net profit (3Q)
446
349
28%
Net profit (9M)
1,299
1,175
11%
Results reflect work over three years to rebalance
our asset book, to improve contribution from
recurring businesses
2
Rebalanced asset composition, loan growth boost
interest income to quarterly record; net interest
margin highest in ten quarters
Net interest income
Net interest margin
%
+36
58,121
58,866
Dec
2002
Mar
2003
59,940
Jun
2003
$
or S
$ 728 million
12%
1.87%; highest in ten quarters
llion
i
b
7
20.
(a)
fr o m
Dec
er 2
b
m
e
002
78,712
78,776
71,055
69,659
67,216
65,048
61,415
62,424
61,019
Sep
2003
Dec
2003
Mar
2004
Jun
2004
Loans exclude DBS Thai Danu loans in all comparative periods
Sep
2004
Dec
2004
Mar
2005
Jun
2005
Sep
2005
3
Fee income up 6% from a year ago, up 4%
from the nine-month period last year
Third quarter 2005 $ 266 million
6%
$ 810 million
4%
281
245
252
254
253
290
266
2Q
3Q
4Q
1Q
2Q
3Q
Nine-month 2005
1,031
814
901
0
2002
2003
2004
1Q
2004
2005
4
Growth in higher-return consumer, SME
businesses across the region
Net profit
Consumer, SME
Consumer
SME
$ 232 million
15%
$ 149 million
25%
$ 83 million
1%
Consumer, SME together accounted for
52% of DBS’ total net profit
5
Asset quality among the best in Asia
Asset quality one of the best among Asian banks
2.0% NPL rate
97% Provision coverage
6
Policy of sustainable, progressively
increasing dividends
Total dividends of 41 cents per share for Nine Months
2005, compared to 40 cents per share for full year 2004
Dividend policy reflects our confidence in our earnings
prospects and in our ability to fund future growth and
expansion through our strong capital base
7
Stronger recurring income
offsets lower treasury income
October 28, 2005
DBS Group Holdings
3Q 2005 Financial Results
Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or
distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents.
Interest and fee income rise on year, but
operating profits dampened by treasury
3Q
2005
3Q
2004
Net interest income
728
652
12
695
5
Non-interest income
351
446
(21)
397
(12)
1,079
1,098
(2)
1,092
(1)
Staff costs
255
247
3
253
1
Other operating expenses
274
256
7
247
11
Operating expenses
529
503
5
500
6
Operating profit
550
595
(8)
592
(7)
4
28
(86)
81
(95)
446
459
(3)
441
1
-
110
nm
-
nm
446
349
28
441
1
(S$m)
Operating income
Provisions
Net profit before goodwill
Goodwill amortisation
Net profit
%
change
2Q
2005
%
change
9
Lower 9M operating profit as market-related
income declines
(S$m)
9M
2005
9M a
2004
Net interest income
2,093
1,951
7
Non-interest income
1,156
1,492
(23)
Operating income
3,249
3,443
(6)
Staff costs
773
736
5
Other operating expenses
767
777
(1)
Operating expenses
1,540
1,513
2
Operating profit
1,709
1,930
(11)
148
93
59
1,299
1,505
(14)
330
nm
1,175
11
Provisions
Net profit before goodwill
Goodwill amortisation
Net profit
1,299
%
change
(a) Excluding one-time gains of $497m
10
Key ratios mixed as non-interest income
contributions fall
(%)
3Q
2005
2Q
2005
3Q
2004
9M
2005
9M
2004 a
Net interest margin
1.87
1.80
1.85
1.82
1.83
Non-interest income/total income
33
36
41
36
43
Cost/income
49
46
46
47
44
10.4
10.4
11.4
10.3
13.2
Loans/deposits
69
68
63
69
63
Loan + non-trading debt securities/
deposits
90
89
84
90
84
NPL ratio
2.0
2.2
2.6
2.0
2.6
ROE
(a) Excluding one-time gains of $497m
11
Interest income at quarterly record, boosted
by higher loans and margins
Net interest margin (%)
(S$m)
2,678
2,592
2,405
2,093
2.02
1.80
1.81
2002 2003 2004
1.82
9M
2005
1.81
1.85
640
659
1Q
2Q
1.81
1.87
1.76
1.78
1.80
652
641
670
695
728
3Q
4Q
1Q
2Q
3Q
2004
2005
12
Loans expand 17% on year, improving asset mix
DTDB loans
(S$m)
78,712
11%
71,055
69,659
67,216
65,048
2,915
2% 2,915
61,415
62,424
Dec
Mar
2003
4%
78,776
0%
2%
3%
4%
Jun
2004
Sep
Dec
Mar
Jun
Sep
2005
13
Fees from most annuity businesses rise on year
(S$m)
Fee income
Dividend and rental
Other income
Non-interest income /
total income (%)
b
1,840 1,882
1,518
a
901
1,031
50
48
814
43
36
35
60
a
87
1,156
42
b
105
852
644
58
746
2002 2003 2004
(a) Excluding one-time gains of $96m
(b) Excluding one-time gains of $497m
40
810
38
38
36
38 b
36
33
636
281
410
75
13
245
271
342
9M
2005
1Q
b
446
391
408
397
254
17
120
253
13
142
290
44
121
252
31
163
351
36
71
266
27
58
2Q
3Q
4Q
1Q
2Q
3Q
2004
2005
14
Wealth management revenues lower on year
(S$m)
9,006
Structured deposits
9,242
Bancassurance
Unit trusts
7,227
5,908
5,967
3,651
2,766
429
122
200
2,905
1,578
2003
2004
1,732
2,093
2,194
27
1,006
1,685
34
374
9M
2005
1Q
2Q
Sales (all products)
S’pore
4,162
3,874 2,885
HK
4,844
5,368 3,083
Fees (unit trusts and bancassurance only)
S’pore + HK 90
132
108
2,545
2,065
1,863
2,039
327
691
1,838
964
41
834
1,157
41
868
1,245
44
575
1,249
37
752
3Q
4Q
1Q
2Q
3Q
1,526
2004
2005
1,244
1,522
918
1,175
1,028
1,517
684
1,154
963
1,102
794
1,069
1,128
911
34
24
42
32
37
37
34
15
Operating costs rise, 9M cost-income ratio within
target range
(S$m)
Cost/Income (%)
1,875 1,876
46 a
44
Annualised cost /
average assets (%)
Headcount c
Staff costs (S$m)
1.22
12,035
911
46 b
53
1,540
47
45
2002
2,056
46 b
46
47
46
49
40
32
41
516
494
503
543
511
500
529
9M
2005
1Q
2Q
3Q
4Q
1Q
2Q
3Q
1.22
1.13
1.26
12,144 11,454
12,562
2003 2004
1.17
876
(a) Excluding one-time gains of $96m
(b) Excluding one-time gains of $497m
(c) At period end
994
773
2005
2004
1.18
12,173 10,838
256
232
1.22
1.30
1.14
1.11
1.19
11,083 11,454 11,649 12,090 12,562
247
259
265
253
255
16
Higher-return Consumer and Enterprise Banking
account for 54% of operating profit
3Q
2005
3Q
2004
2Q
2005
Change
Consumer Banking
183
177
6
203
(20)
Enterprise Banking
114
122
(8)
109
5
Corporate and Investment Banking
94
114
(20)
153
(59)
Global Financial Markets
47
145
(98)
49
(2)
Central Treasury Unit
55
65
(10)
47
8
Central Operations a
57
(28)
85
31
26
550
595
(45)
592
(42)
(S$m)
Total
Change
(a) Comprising Private Banking, Asset Management and other subsidiaries and associates
17
Hong Kong’s operating profit improves 9% on
quarter
%
change
3Q
2004
Net interest income
247
224
10
220
12
Non-interest income
78
118
(34)
80
(3)
Operating income
325
342
(5)
300
8
Operating expenses
168
153
10
156
8
Operating profit
157
189
(17)
144
9
7
22
(68)
4
75
125
146
(14)
118
6
Provisions
Net profit after tax
Figures on Hong Kong geographical basis and converted to S$ using monthly closing rates.
Based on Singapore GAAP
2Q
2005
%
change
3Q
2005
(S$m)
18
Hong Kong’s 9M performance lower as operating
income falls
9M
2005
9M
2004
%
Change
Net interest income
673
688
(2)
Non-interest income
256
365
(30)
Operating income
929
1,053
(12)
Operating expenses
476
445
7
Operating profit
453
608
(25)
20
80
(75)
364
457
(20)
(S$m)
Provisions
Net profit after tax
Figures on Hong Kong geographical basis and converted to S$ using monthly closing rates.
Based on Singapore GAAP
19
Hong Kong ratios generally better on quarter,
lower on year
(%)
3Q
2005
2Q
2005
3Q
2004
9M
2005
9M
2004
Net interest margin
2.26
2.05
2.15
2.10
2.28
Non-interest income/total income
24
27
35
28
35
Cost/income
52
52
45
51
42
1.02
0.99
1.24
1.03
1.35
77
79
77
77
77
ROA
Loans/deposits
20
Strong organic regional growth through branch
network
India
Assets $963 m
356%
Branches 2 (Mumbai,
New Delhi)
Seoul
Beijing
Shanghai
Hong Kong
Mumbai
Yangon
Manila
Bangkok
Labuan
Kuala Lumpur
Indonesia a
Assets $1,592 m
100%
Branches 5 (Jakarta, Medan,
Bandung, Semarang, Surabaya)
Assets as at September 30, 2005. Growth rates are year-on-year
(a) DBS Indonesia, DBS’ majority-owned subsidiary
Taipei
Tokyo
Mainland China
Assets $5,247 m
27%
Branches 4 (Beijing, Guangzhou,
Shanghai, Shenzhen)
Rep offices 3 (Dongguan, Fuzhou,
Tianjin)
Singapore
Jakarta
21
Investment banking activity in 3Q05
Singapore
Hong Kong Land (S$700 million bond issue, joint lead manager and
underwriter together with HSBC)
Tech Semicon (US$400 million syndicated term loan, mandated lead
arranger and bookrunner)
PSA Corp Ltd (S$500 million bond issue, sole lead manager)
CapitalMall Trust (S$400 million secondary funds raising exercise, joint
lead manager and underwriter)
Seoul
Beijing
Shanghai
Hong Kong
Mumbai
Yangon
Bangkok
Tokyo
Taipei
Manila
Kuala Lumpur
Labuan
Singapore
Jakarta
Greater China
Fortune REIT (US$307 million CMBS issue for secondary offering of
Fortune REIT, joint lead manager)
Formosa Plastics Group Ningbo IV Project (US$289 million syndicated
loan, lead arranger)
Sinopec (US$150 million 5 year-bullet loan, coordination arranger)
India
Bharti Televentures Limited (US$225 million syndicated loan facility,
mandated lead arranger)
Hindustan Petroleum Corp Ltd (US$200 million syndicated term loan in
JPY, mandated lead arranger and bookrunner)
Thailand
Central Patanna (US$292 million CPRN Retail Growth Property Fund, joint
financial advisor and joint bookrunner)
Thai Olefin Ltd (US$135 million syndicated term loan facility, mandated
lead arranger and bookrunner)
22
NPL rate falls to 2.0%
Substandard
Doubtful
Loss
(S$m)
6.1
NPL rate (%)
5.2
4,224
4.6
3.0
2.5
2.6
2.5
2.4
2.2
2.0
1,934
1,919
1,928
1,896
1,807
72%
70%
71%
72%
71%
68%
9%
19%
9%
21%
9%
20%
9%
19%
11%
18%
14%
18%
Jun Sep
2004
Dec
Mar
Jun
2005
Sep
3,780
3,359
74%
73%
75%
2,182
1,919
71%
6%
5%
6%
20%
22%
9%
20%
19%
2002
2003 2004
Mar
23
NPLs decline as recoveries exceed additions
(S$m)
NPLs at start of period
New NPLs
Net recoveries of existing NPLs
Write-offs
NPLs at end of period
3Q
2005
3Q
2004
1,896
2,182
1,928
180
114
224
(225)
(283)
(194)
(44)
(79)
(62)
1,807
1,934
1,896
2Q
2005
24
Specific provision charges for loans fall
on quarter
(S$m)
Add charges for
New NPLs
Existing NPLs
Subtract charges for
Upgrading
Settlements
Recoveries
Total SP charges
3Q
2005
3Q
2004
2Q
2005
40
49
89
46
30
76
46
53
99
1
40
18
59
3
67
7
77
4
39
5
48
30
(1)
51
25
Provision coverage reaches 97%
GP
SP
(S$m)
2,500
989
2,387
2,271
1,064 1,701
1,072
1,025 1,037
1,015 1,036 1,068 1,031
1,015
1,511 1,323
1,199
686
2002
2003
2004
Mar
SP+GP / NPLs
794
715
686
700
716
726
Jun
Sep
Dec
Mar
Jun
Sep
2004
Coverage ratios (%)
SP+GP / Unsec NPLs
1,819 1,752
1,701 1,736 1,784 1,757
2005
121
124
186
132
156
183
186
202
201
207
59
63`
89
68
83
91
89
90
94
97
26
CAR unchanged on quarter
Tier 2
Tier 1
(%)
(S$bn)
Tier-1 capital
RWA
15.6
15.4
15.8
4.0
3.6
4.5
10.4
11.6
11.8
Mar
Jun
Sep
15.8
15.5
15.1
5.2
4.6
10.3
10.5
11.3
2002
2003
2004
14.5
4.5
4.1
15.3
14.7
14.7
4.4
4.1
4.3
11.3
10.9
10.6
10.4
Dec
Mar
Jun
Sep
2004
8.4
9.6
11.8
10.2
11.2
11.5
81.2
92.1
104.0
97.8
96.6
97.5
2004 capital ratios based on MAS framework. Earlier periods based on BIS guidelines
2005
11.8
11.8
12.2
12.6
104.0 108.8
114.8
121.2
27
9M dividend rate exceeds full-year 2004
Final
Interim
Quarterly
(S¢)
40
30
41
15
30
22
16
16
15
14
14
2002
2003
18
11
2004
9M 2005
28
Stronger recurring income
offsets lower treasury income
October 28, 2005
DBS Group Holdings
3Q 2005 Financial Results
Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or
distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents.
offsets lower treasury income
October 28, 2005
DBS Group Holdings
3Q 2005 Financial Results
Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or
distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents.
Third-quarter earnings up 28%
($ million)
YoY %
change
2005
2004
Net profit (3Q)
446
349
28%
Net profit (9M)
1,299
1,175
11%
Results reflect work over three years to rebalance
our asset book, to improve contribution from
recurring businesses
2
Rebalanced asset composition, loan growth boost
interest income to quarterly record; net interest
margin highest in ten quarters
Net interest income
Net interest margin
%
+36
58,121
58,866
Dec
2002
Mar
2003
59,940
Jun
2003
$
or S
$ 728 million
12%
1.87%; highest in ten quarters
llion
i
b
7
20.
(a)
fr o m
Dec
er 2
b
m
e
002
78,712
78,776
71,055
69,659
67,216
65,048
61,415
62,424
61,019
Sep
2003
Dec
2003
Mar
2004
Jun
2004
Loans exclude DBS Thai Danu loans in all comparative periods
Sep
2004
Dec
2004
Mar
2005
Jun
2005
Sep
2005
3
Fee income up 6% from a year ago, up 4%
from the nine-month period last year
Third quarter 2005 $ 266 million
6%
$ 810 million
4%
281
245
252
254
253
290
266
2Q
3Q
4Q
1Q
2Q
3Q
Nine-month 2005
1,031
814
901
0
2002
2003
2004
1Q
2004
2005
4
Growth in higher-return consumer, SME
businesses across the region
Net profit
Consumer, SME
Consumer
SME
$ 232 million
15%
$ 149 million
25%
$ 83 million
1%
Consumer, SME together accounted for
52% of DBS’ total net profit
5
Asset quality among the best in Asia
Asset quality one of the best among Asian banks
2.0% NPL rate
97% Provision coverage
6
Policy of sustainable, progressively
increasing dividends
Total dividends of 41 cents per share for Nine Months
2005, compared to 40 cents per share for full year 2004
Dividend policy reflects our confidence in our earnings
prospects and in our ability to fund future growth and
expansion through our strong capital base
7
Stronger recurring income
offsets lower treasury income
October 28, 2005
DBS Group Holdings
3Q 2005 Financial Results
Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or
distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents.
Interest and fee income rise on year, but
operating profits dampened by treasury
3Q
2005
3Q
2004
Net interest income
728
652
12
695
5
Non-interest income
351
446
(21)
397
(12)
1,079
1,098
(2)
1,092
(1)
Staff costs
255
247
3
253
1
Other operating expenses
274
256
7
247
11
Operating expenses
529
503
5
500
6
Operating profit
550
595
(8)
592
(7)
4
28
(86)
81
(95)
446
459
(3)
441
1
-
110
nm
-
nm
446
349
28
441
1
(S$m)
Operating income
Provisions
Net profit before goodwill
Goodwill amortisation
Net profit
%
change
2Q
2005
%
change
9
Lower 9M operating profit as market-related
income declines
(S$m)
9M
2005
9M a
2004
Net interest income
2,093
1,951
7
Non-interest income
1,156
1,492
(23)
Operating income
3,249
3,443
(6)
Staff costs
773
736
5
Other operating expenses
767
777
(1)
Operating expenses
1,540
1,513
2
Operating profit
1,709
1,930
(11)
148
93
59
1,299
1,505
(14)
330
nm
1,175
11
Provisions
Net profit before goodwill
Goodwill amortisation
Net profit
1,299
%
change
(a) Excluding one-time gains of $497m
10
Key ratios mixed as non-interest income
contributions fall
(%)
3Q
2005
2Q
2005
3Q
2004
9M
2005
9M
2004 a
Net interest margin
1.87
1.80
1.85
1.82
1.83
Non-interest income/total income
33
36
41
36
43
Cost/income
49
46
46
47
44
10.4
10.4
11.4
10.3
13.2
Loans/deposits
69
68
63
69
63
Loan + non-trading debt securities/
deposits
90
89
84
90
84
NPL ratio
2.0
2.2
2.6
2.0
2.6
ROE
(a) Excluding one-time gains of $497m
11
Interest income at quarterly record, boosted
by higher loans and margins
Net interest margin (%)
(S$m)
2,678
2,592
2,405
2,093
2.02
1.80
1.81
2002 2003 2004
1.82
9M
2005
1.81
1.85
640
659
1Q
2Q
1.81
1.87
1.76
1.78
1.80
652
641
670
695
728
3Q
4Q
1Q
2Q
3Q
2004
2005
12
Loans expand 17% on year, improving asset mix
DTDB loans
(S$m)
78,712
11%
71,055
69,659
67,216
65,048
2,915
2% 2,915
61,415
62,424
Dec
Mar
2003
4%
78,776
0%
2%
3%
4%
Jun
2004
Sep
Dec
Mar
Jun
Sep
2005
13
Fees from most annuity businesses rise on year
(S$m)
Fee income
Dividend and rental
Other income
Non-interest income /
total income (%)
b
1,840 1,882
1,518
a
901
1,031
50
48
814
43
36
35
60
a
87
1,156
42
b
105
852
644
58
746
2002 2003 2004
(a) Excluding one-time gains of $96m
(b) Excluding one-time gains of $497m
40
810
38
38
36
38 b
36
33
636
281
410
75
13
245
271
342
9M
2005
1Q
b
446
391
408
397
254
17
120
253
13
142
290
44
121
252
31
163
351
36
71
266
27
58
2Q
3Q
4Q
1Q
2Q
3Q
2004
2005
14
Wealth management revenues lower on year
(S$m)
9,006
Structured deposits
9,242
Bancassurance
Unit trusts
7,227
5,908
5,967
3,651
2,766
429
122
200
2,905
1,578
2003
2004
1,732
2,093
2,194
27
1,006
1,685
34
374
9M
2005
1Q
2Q
Sales (all products)
S’pore
4,162
3,874 2,885
HK
4,844
5,368 3,083
Fees (unit trusts and bancassurance only)
S’pore + HK 90
132
108
2,545
2,065
1,863
2,039
327
691
1,838
964
41
834
1,157
41
868
1,245
44
575
1,249
37
752
3Q
4Q
1Q
2Q
3Q
1,526
2004
2005
1,244
1,522
918
1,175
1,028
1,517
684
1,154
963
1,102
794
1,069
1,128
911
34
24
42
32
37
37
34
15
Operating costs rise, 9M cost-income ratio within
target range
(S$m)
Cost/Income (%)
1,875 1,876
46 a
44
Annualised cost /
average assets (%)
Headcount c
Staff costs (S$m)
1.22
12,035
911
46 b
53
1,540
47
45
2002
2,056
46 b
46
47
46
49
40
32
41
516
494
503
543
511
500
529
9M
2005
1Q
2Q
3Q
4Q
1Q
2Q
3Q
1.22
1.13
1.26
12,144 11,454
12,562
2003 2004
1.17
876
(a) Excluding one-time gains of $96m
(b) Excluding one-time gains of $497m
(c) At period end
994
773
2005
2004
1.18
12,173 10,838
256
232
1.22
1.30
1.14
1.11
1.19
11,083 11,454 11,649 12,090 12,562
247
259
265
253
255
16
Higher-return Consumer and Enterprise Banking
account for 54% of operating profit
3Q
2005
3Q
2004
2Q
2005
Change
Consumer Banking
183
177
6
203
(20)
Enterprise Banking
114
122
(8)
109
5
Corporate and Investment Banking
94
114
(20)
153
(59)
Global Financial Markets
47
145
(98)
49
(2)
Central Treasury Unit
55
65
(10)
47
8
Central Operations a
57
(28)
85
31
26
550
595
(45)
592
(42)
(S$m)
Total
Change
(a) Comprising Private Banking, Asset Management and other subsidiaries and associates
17
Hong Kong’s operating profit improves 9% on
quarter
%
change
3Q
2004
Net interest income
247
224
10
220
12
Non-interest income
78
118
(34)
80
(3)
Operating income
325
342
(5)
300
8
Operating expenses
168
153
10
156
8
Operating profit
157
189
(17)
144
9
7
22
(68)
4
75
125
146
(14)
118
6
Provisions
Net profit after tax
Figures on Hong Kong geographical basis and converted to S$ using monthly closing rates.
Based on Singapore GAAP
2Q
2005
%
change
3Q
2005
(S$m)
18
Hong Kong’s 9M performance lower as operating
income falls
9M
2005
9M
2004
%
Change
Net interest income
673
688
(2)
Non-interest income
256
365
(30)
Operating income
929
1,053
(12)
Operating expenses
476
445
7
Operating profit
453
608
(25)
20
80
(75)
364
457
(20)
(S$m)
Provisions
Net profit after tax
Figures on Hong Kong geographical basis and converted to S$ using monthly closing rates.
Based on Singapore GAAP
19
Hong Kong ratios generally better on quarter,
lower on year
(%)
3Q
2005
2Q
2005
3Q
2004
9M
2005
9M
2004
Net interest margin
2.26
2.05
2.15
2.10
2.28
Non-interest income/total income
24
27
35
28
35
Cost/income
52
52
45
51
42
1.02
0.99
1.24
1.03
1.35
77
79
77
77
77
ROA
Loans/deposits
20
Strong organic regional growth through branch
network
India
Assets $963 m
356%
Branches 2 (Mumbai,
New Delhi)
Seoul
Beijing
Shanghai
Hong Kong
Mumbai
Yangon
Manila
Bangkok
Labuan
Kuala Lumpur
Indonesia a
Assets $1,592 m
100%
Branches 5 (Jakarta, Medan,
Bandung, Semarang, Surabaya)
Assets as at September 30, 2005. Growth rates are year-on-year
(a) DBS Indonesia, DBS’ majority-owned subsidiary
Taipei
Tokyo
Mainland China
Assets $5,247 m
27%
Branches 4 (Beijing, Guangzhou,
Shanghai, Shenzhen)
Rep offices 3 (Dongguan, Fuzhou,
Tianjin)
Singapore
Jakarta
21
Investment banking activity in 3Q05
Singapore
Hong Kong Land (S$700 million bond issue, joint lead manager and
underwriter together with HSBC)
Tech Semicon (US$400 million syndicated term loan, mandated lead
arranger and bookrunner)
PSA Corp Ltd (S$500 million bond issue, sole lead manager)
CapitalMall Trust (S$400 million secondary funds raising exercise, joint
lead manager and underwriter)
Seoul
Beijing
Shanghai
Hong Kong
Mumbai
Yangon
Bangkok
Tokyo
Taipei
Manila
Kuala Lumpur
Labuan
Singapore
Jakarta
Greater China
Fortune REIT (US$307 million CMBS issue for secondary offering of
Fortune REIT, joint lead manager)
Formosa Plastics Group Ningbo IV Project (US$289 million syndicated
loan, lead arranger)
Sinopec (US$150 million 5 year-bullet loan, coordination arranger)
India
Bharti Televentures Limited (US$225 million syndicated loan facility,
mandated lead arranger)
Hindustan Petroleum Corp Ltd (US$200 million syndicated term loan in
JPY, mandated lead arranger and bookrunner)
Thailand
Central Patanna (US$292 million CPRN Retail Growth Property Fund, joint
financial advisor and joint bookrunner)
Thai Olefin Ltd (US$135 million syndicated term loan facility, mandated
lead arranger and bookrunner)
22
NPL rate falls to 2.0%
Substandard
Doubtful
Loss
(S$m)
6.1
NPL rate (%)
5.2
4,224
4.6
3.0
2.5
2.6
2.5
2.4
2.2
2.0
1,934
1,919
1,928
1,896
1,807
72%
70%
71%
72%
71%
68%
9%
19%
9%
21%
9%
20%
9%
19%
11%
18%
14%
18%
Jun Sep
2004
Dec
Mar
Jun
2005
Sep
3,780
3,359
74%
73%
75%
2,182
1,919
71%
6%
5%
6%
20%
22%
9%
20%
19%
2002
2003 2004
Mar
23
NPLs decline as recoveries exceed additions
(S$m)
NPLs at start of period
New NPLs
Net recoveries of existing NPLs
Write-offs
NPLs at end of period
3Q
2005
3Q
2004
1,896
2,182
1,928
180
114
224
(225)
(283)
(194)
(44)
(79)
(62)
1,807
1,934
1,896
2Q
2005
24
Specific provision charges for loans fall
on quarter
(S$m)
Add charges for
New NPLs
Existing NPLs
Subtract charges for
Upgrading
Settlements
Recoveries
Total SP charges
3Q
2005
3Q
2004
2Q
2005
40
49
89
46
30
76
46
53
99
1
40
18
59
3
67
7
77
4
39
5
48
30
(1)
51
25
Provision coverage reaches 97%
GP
SP
(S$m)
2,500
989
2,387
2,271
1,064 1,701
1,072
1,025 1,037
1,015 1,036 1,068 1,031
1,015
1,511 1,323
1,199
686
2002
2003
2004
Mar
SP+GP / NPLs
794
715
686
700
716
726
Jun
Sep
Dec
Mar
Jun
Sep
2004
Coverage ratios (%)
SP+GP / Unsec NPLs
1,819 1,752
1,701 1,736 1,784 1,757
2005
121
124
186
132
156
183
186
202
201
207
59
63`
89
68
83
91
89
90
94
97
26
CAR unchanged on quarter
Tier 2
Tier 1
(%)
(S$bn)
Tier-1 capital
RWA
15.6
15.4
15.8
4.0
3.6
4.5
10.4
11.6
11.8
Mar
Jun
Sep
15.8
15.5
15.1
5.2
4.6
10.3
10.5
11.3
2002
2003
2004
14.5
4.5
4.1
15.3
14.7
14.7
4.4
4.1
4.3
11.3
10.9
10.6
10.4
Dec
Mar
Jun
Sep
2004
8.4
9.6
11.8
10.2
11.2
11.5
81.2
92.1
104.0
97.8
96.6
97.5
2004 capital ratios based on MAS framework. Earlier periods based on BIS guidelines
2005
11.8
11.8
12.2
12.6
104.0 108.8
114.8
121.2
27
9M dividend rate exceeds full-year 2004
Final
Interim
Quarterly
(S¢)
40
30
41
15
30
22
16
16
15
14
14
2002
2003
18
11
2004
9M 2005
28
Stronger recurring income
offsets lower treasury income
October 28, 2005
DBS Group Holdings
3Q 2005 Financial Results
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