2q10 financial results (website)

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Media Release

OCBC Group Reports Second Quarter 2

Net Profit of S$503 million

Record First Half 2010 Core Net Profit of S$1,179 m

Singapore, 2 August 2010 - Oversea-Chinese Banking Corporation Limited

“Group”) today reported a net profit attributable to shareholders (“net profit”) o

second quarter ended 30 June 2010 (“2Q10”), an increase of 8% from S$466 m

Group’s second quarter result included three months’ consolidation of the rBank of Singapore (formerly ING Asia Private Bank), which was acquired in J

net profit growth was driven by increased fees and commissions, higher realise

securities and lower allowances.

Second quarter net interest income grew by 1% over the previous year to S$

18% increase in average interest earning assets which more than offset the

margin. Loan growth was broad-based in the consumer, corporate and SME and overseas. Non-interest income increased 5% to S$516 million, led by a

commission income, and higher realised gains from the sale of investment secu

markets resulted in a 35% decline in net trading income. Despite a 26% fall i

from insurance subsidiary Great Eastern Holdings (“GEH”), the underlying bus

substantially, recording 30% year-on-year growth in new business sales an

business embedded value.

Operating expenses increased by 24% to S$559 million, as a result of

investments in regional expansion and higher business volumes. Eff

management kept net allowances for the second quarter low at S$18 million, do

a year ago and from S$25 million in 1Q10. The non-performing loans (“NPL”

the quarter to 1 3% from 1 5%



For the first half of 2010 (“1H10”), the Group achieved a net profit of S$1,179

year’s first half results of S$1,011 million. Excluding a S$175 million1/

non-recu1H09, net profit growth would have been higher at 41%. The 1H10 performanc

the Group in terms of half year core net profit. Net interest income fell marg

growth in non-interest income. Excluding the non-recurring insurance gains

income grew 33%, underpinned by higher realised gains on investment sec

insurance, dealing as well as fee and commission income. The 23% increase

was associated with the Group’s regional and wealth management expansio

business volumes. Net allowances fell significantly by 86% to S$43 million,1H09.

Return on equity, based on core earnings, was 13.1% in 1H10, while annual

share rose 12% year-on-year to 70.6 cents.

Net Interest Income

Net interest income in the second quarter grew 1% year-on-year to S$720 mil

average interest-earning assets more than offset a decline in average net inte

loans increased to S$95.5 billion at the end of the period, up 21% from a year

previous quarter. Excluding the consolidation effect of Bank of Singapore, lo

been 15% year-on-year. Loan growth during the quarter was broad-based an

loans to the housing, non-bank financial institutions, investment and holding c

commerce sectors. The net interest margin decline of 33 basis points, from

largely from reduced gapping opportunities in the interbank market. Since the

of Singapore acquisition in January this year, the inclusion of its lower-yield

assets has boosted the Group’s net interest income while decreasing net inte

the consolidation effect of Bank of Singapore, the Group’s net interest margin

smaller year-on-year decline of 26 basis points, from 2.29% to 2.03% in 2Q10.

Compared with 1Q10, net interest income rose by 2% as the growth in av

assets and a slightly longer quarter offset the impact of a decline in net interes

net interest margin narrowed by 7 basis points from the previous quarter, largel

gapping opportunities.



Non-Interest Income

Non-interest income in the second quarter grew by 5% year-on-year to S$516 m

fee and commission income and higher realised gains on the sale of investme

partially offset by lower dealing income and profit from life assurance. Fees

30% over the previous year to S$252 million, led by growth in wealth mana

including contributions from Bank of Singapore, more than doubled to S$4

banking, fund management, and trade-related activities also contributed to the

fee and commission income. The sale of investment securities contributed neas compared with net gains of S$21 million in 2Q09. Net trading income declin

S$39 million, with lower foreign exchange income more than offsetting an imp

and derivatives trading results. Profit from life assurance fell 45% to S

investment performance, although partly offset by improved profits from unde

operating expenses and improved claims experience.

Compared with 1Q10, non-interest income fell 24% as a result of a lower profassurance and a decline in net trading income, as volatile financial market

second quarter led to a decline in foreign exchange as well as securities a

income.

Operating Expenses

Operating expenses in 2Q10 increased by 24% year-on-year over a low base

Group resumed investments to expand its businesses in key markets. Staff co

million, mainly as a result of increased headcount and higher base salaries, w

Bank of Singapore being the largest contributor. Group headcount rose 9%

personnel increase coming from the Group’s expansion in overseas markets

including Malaysia, Indonesia, China and Bank of Singapore. Over the last twe

Amin opened two additional branches in Malaysia, PT Bank OCBC NISPbranches/sub-branches and offices in Indonesia, and OCBC Bank (China) op

and one sub-branch. Other operating expenses rose 7% to S$232 million,

depreciation, rental and business promotion expenses.

C d ith 1Q10 ti 11% l l f hi h



Allowances and Asset Quality

Allowances for loans and other assets were S$18 million for the quarter, dow

year ago and S$25 million in 1Q10. Specific allowances for loans, net of reco

were S$11 million, as compared with S$5 million in 1Q10 and S$44 million

allowances of S$5 million were flat versus the year ago period.

The Group’s asset quality and coverage ratios remained strong. Absolute NPL

the previous quarter to S$1,260 million, and the NPL ratio improved to 1.3% frthe decrease in NPLs during the quarter was mainly from the manufacturing, g

professionals and individuals sectors. Total cumulative allowances represen

performing assets (“NPAs”) and 288% of unsecured NPAs, up from 107% an

1Q10.

Capital Ratios

OCBC Group continues to be strongly capitalised, with its Tier 1 ratio as at 30 J

15.3%, up from 14.4% at the end of the previous quarter, and total c

strengthening to 16.3%, from 15.2%, over the same period. These are we

minimums of 6% and 10% respectively. The Core Tier 1 ratio, excluding pe

preference shares, was 11.6%, up from 10.8% at the end of 1Q10.

Interim Dividend

An interim one-tier tax-exempt dividend of 15 cents per share has been declare

of 2010, a 7% per share increase from the 1H09 interim dividend of 14 cents

dividend payout will amount to S$493 million, representing a payout of 42% o

profit for 1H10. As per the last three dividend payments, the Scrip Dividend Scto the interim dividend. The issue price for the new shares, to be allotted to sh

the scrip dividend, will be at a 10% discount to the average of the volume wei

the shares during the price determination period (being the period commencing

the shares are first traded on an ex-basis and ending on the books clos

entitlements to the interim dividend) Further details will be announced at a late



CEO’s Comments

Commenting on the Group’s performance, CEO David Conner said:

“Given that our underlying businesses are performing well, we are pleased w

Broad-based loan growth, strong gains in fee income, including the boost to o

business from the Bank of Singapore, coupled with a robust increase of insur

Great Eastern, all underscore OCBC’s healthy customer franchise. Whil

possibility of renewed volatility in the financial markets, on balance we have a pof the growth prospects in our key markets.”



About OCBC Bank

OCBC Bank, established in 1912, is the second largest financial services grou

assets. It is among the world's highest rated banks, with a long term cre

Moody's. OCBC Bank and its subsidiaries offer a broad array of specialist fina

from consumer, corporate, investment, private and transaction banking to trea

management and stockbroking services.

OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater C

of more than 500 branches and representative offices in 15 countries and te

branches and offices in Indonesia operated by its subsidiary, PT Bank OCBC N

OCBC Bank's insurance subsidiary, Great Eastern Holdings, is the large

Singapore and Malaysia by assets, and its asset management subsidiary, Li

one of the largest private sector asset management companies in Southeast As

For more information, please visit www.ocbc.com

For more information, please contact:

Koh Ching Ching

Head, Group Corporate Communications

Tel: (65) 6530 4890

Fax: (65) 6535 7477

Tan Tzu Ping

Head, Investor Relations

Tel: (65) 6530 4205

Fax: (65) 6532 6001



To Our Shareholders

The Board of Directors of Oversea-Chinese Banking Corporation Limited

following:

Unaudited Financial Results for the Second Quarter Ended 30 June 2010

For the second quarter ended 30 June 2010, Group reported net profit was S$

the financial results are in the accompanying Group Financial Report.

Ordinary Dividend

An interim one-tier tax exempt dividend of 15 cents per share (2009: 14 cents

declared for the first half-year 2010. The interim dividend payout will amount t

million (2009: S$445 million) or approximately 42% of the Group’s net profit

1H10.

Closure of Books

The books closure date will be announced at a later date.

Scrip Dividend Scheme

The Scrip Dividend Scheme will be applicable to the interim dividend. The is

shares to be allotted to shareholders who have elected to receive scrip for the i

set at a 10% discount to the average of the volume weighted average price of

price determination period (being the period commencing on the date on whi

traded on an ex-basis and ending on the books closure date to determine entit

dividend). Further details will be announced at a later date.

Preference Dividends

On 21 June 2010, the Bank paid semi-annual tax-exempt dividends on itsconvertible preference shares as follows: Class B Preference Shares at 5

annum; Class E Preference Shares at 4.5% (2009: 4.5%) per annum and Class

at 4.2% (2009: 4.2%) per annum. Total amounts of dividend paid for the Class

G Preference Shares were S$25.4 million, S$11.2 million and S$8.3 million resp



Oversea-Chinese Banking Corporation Limited

Second Quarter 2010 Group Financial Report



CONTENTS

Financial Summary

Financial Review

Net Interest Income

Non-Interest Income

Operating Expenses

Allowances for Loans and Other Assets

Loans and Advances

Non-Performing Assets

Cumulative Allowances for Assets

Deposits

Debts Issued

Capital Adequacy Ratios

Unrealised Valuation Surplus

Performance by Business Segment

Performance by Geographical Segment

Financial Statements

Consolidated Income Statement (Unaudited)

Consolidated Statement of Comprehensive Income (Unaudited)

Balance Sheets (Unaudited)

Statement of Changes in Equity – Group (Unaudited)For the half year ended 30 June 2010 For the three months ended 30 June 2010



FINANCIAL SUMMARY

OCBC Group prepares its financial statements in accordance with the Singapore Fina

required by the Singapore Companies Act, including the modification to FRS 39 Finan

and Measurement requirement on loan loss provisioning under Notice to Banks No. 6

Provisioning” issued by the Monetary Authority of Singapore.

The following new/revised financial reporting standards and interpretations were m

January 2010:

FRS 27 (Revised): Consolidated and Separate Financial Statements

FRS 103 (Revised): Business Combinations

FRS 39 (Amendments): Financial Instruments: Recognition and Measurement

FRS 102 (Amendments): Share-Based Payment – Group Cash-settled Share-ba

INT FRS 117: Distributions of Non-cash Assets to Owners

Improvements to FRSs 2008

Improvements to FRSs 2009

The revised FRS 27 requires that changes in a parent’s ownership interests in a subsid

loss of control be accounted for as equity transactions, with resulting gains and losses t

income statement. The standard also requires the effects of all transactions with n

recorded in equity if there is no change in control.

Under the revised FRS 103, the Group has to expense costs incurred in the acquisition

which it was incurred or when the service was rendered. Where an acquirer obtains

step acquisition, any previously held equity interests shall be measured at fair valueattained, with resulting gains and losses taken to the income statement.

The initial application of the above standards and interpretations is not expected to hav

Group’s financial statements.

Financial Results

Group net profit attributable to shareholders for the second quarter ended 30 June 2010an increase of 8% year-on-year, driven by increased fees and commissions, higher

securities and lower allowances. The 2Q10 result included three months’ consolidation

Bank of Singapore (formerly ING Asia Private Bank), which was acquired in January this

Net interest income grew by 1%, as asset growth more than offset a decline in net



FINANCIAL SUMMARY (continued)

S$ million 1H10 1H09 +/(-) 2Q10 2Q09%

Selected Income Statement

Net interest income 1,424 1,450 (2) 720 710

Non-interest income 1,197 1,101 9 516 494

Total income 2,621 2,551 3 1,236 1,204

Operating expenses (1,061) (863) 23 (559) (450

Operating profit before

allowances and amortisation 1,560 1,688 (8) 677 754

Amortisation of intangible assets (23) (24) – (11) (12

Allowances for loans

and impairment of other assets (43) (301) (86) (18) (104

Operating profit after

allowances and amortisation 1,494 1,363 10 648 638

Share of results of

associates and joint ventures (1) 1 n.m. (1) 1Profit before income tax 1,493 1,364 9 647 639

Net profit attributable to

shareholders 1,179 1,011 17 503 466

Cash basis net profit

attributable to shareholders 1/ 1,202 1,035 16 514 478

Selected Balance Sheet

Ordinary equity 17,986 15,676 15 17,986 15,676

Total equity (excluding

non-controlling interests) 19,881 17,572 13 19,881 17,572

Total assets 213,173 183,429 16 213,173 183,429

Assets excluding life assurancefund investment assets 167,842 143,487 17 167,842 143,487

Loans and bills receivable

(net of allowances) 93,977 77,599 21 93,977 77,599

Deposits of non-bank customers 112,313 96,589 16 112,313 96,589



FINANCIAL SUMMARY (continued)

1H10 1H09 2Q10

Key Financial Ratios

Performance ratios (% p.a.)

Return on equity1/ 2/

SFRS3/

basis 13.1 13.4 10.9

Cash basis

13.4 13.7 11.2

Return on assets4/

SFRS3/ basis 1.43 1.42 1.20Cash basis 1.46 1.45 1.22

Revenue mix/efficiency ratios (%)

Net interest margin (annualised) 2.00 2.35 1.96

Net interest income to total income 54.3 56.8 58.2

Non-interest income to total income 45.7 43.2 41.8

Cost to income 40.5 33.8 45.2

Loans to deposits 83.7 80.3 83.7NPL ratio 1.3 2.0 1.3

Earnings per share2/

(annualised - cents)

Basic earnings 70.6 62.8 59.4

Basic earnings (cash basis) 72.1 64.3 60.8

Diluted earnings 70.4 62.7 59.1

Net asset value per share (S$)

Before valuation surplus 5.48 4.94 5.48

After valuation surplus 6.99 5.59 6.99

Capital adequacy ratios (%)

Tier 1 15.3 15.4 15.3

Total 16.3 15.9 16.3

Notes:1.

Preference equity and non-controlling interests are not included in the computation for return o

2. Calculated based on net profit less preference dividends paid and estimated to be due as at th

3. “SFRS” refers to Singapore Financial Reporting Standards.

4. Computation of return on assets excludes life assurance fund investment assets.



NET INTEREST INCOME

Average Balance Sheet

1H10

Average AverageS$ million Balance Interest Rate

4/

% Interest earning assets

Loans and advances to non-bank customers 88,452 1,519 3.46

Placements with and loans to banks 27,970 193 1.39Other interest earning assets1/

27,453 365 2.68

Total 143,875 2,077 2.91

Interest bearing liabilities Deposits of non-bank customers 108,358 483 0.90Deposits and balances of banks 14,629 46 0.63Other borrowings

2/8,763 124 2.85

Total 131,750 653 1.00

Net interest income/margin3/

1,424 2.00

2Q10 2Q09

Average Average Average Average

S$ million Balance Interest Rate

4/

Balance Interest Rate

4/

% % Interest earning assets

Loans and advances tonon-bank customers 91,049 771 3.40 77,820 760 3.92 Placements withand loans to banks 28,254 97 1.38 20,869 107 2.07 Other interestearning assets

1/ 28,178 188 2.68 25,868 187 2.89

Total 147,481 1,056 2.87 124,557 1,054 3.39

Interest bearingliabilities Deposits of non-bankcustomers 110,842 249 0.90 94,099 260 1.11 Deposits andbalances of banks 15 346 26 0 69 11 905 24 0 81



NET INTEREST INCOME (continued)

Net interest income in the second quarter grew 1% year-on-year to S$720

average interest-earning assets more than offset a decline in average net int

margin declined 33 basis points, from 2.29% to 1.96%, largely as a re

opportunities in the interbank market. Following the acquisition of Bank of Sing

the inclusion of its lower-yielding, well-collateralised assets has boosted the G

while decreasing net interest margin. Excluding the consolidation effect o

Group’s net interest margin would have recorded a smaller year-on-year decli2.29% to 2.03% in 2Q10.

Compared with 1Q10, net interest income rose by 2% as a result of asset gr

quarter, which more than offset the impact of a decline in net interest margin.

margin narrowed by 7 basis points from the previous quarter, largely

opportunities.

Volume and Rate Analysis

1H10 vs 1H09 2Q10 vs 2Q09

Increase/(decrease)due to change in:S$ million Volume Rate

Netchange Volume Rate

Netchange

Interest income

Loans and advances

to non-bank customers 199 (255) (56) 129 (118) 11

Placements with and

loans to banks 78 (128) (50) 38 (49) (11) Other interest earning

assets 44 (61) (17) 17 (15) 2

Total 321 (444) (123) 184 (182) 2

Interest expense

Deposits of non-bank 89 (185) (96) 46 (58) (12) customers

Deposits and balances 13 (26) (13) 7 (5) 2

of banks

Other borrowings 32 (20) 12 16 (14) 2

Total 134 (231) (97) 69 (77) (8)

I t t i t t



NON-INTEREST INCOME

S$ million 1H10 1H09 +/(-) 2Q10 2Q0%

Fees and commissions

Brokerage 41 42 – 21

Wealth management 85 29 198 48Fund management 40 32 22 21Credit card 22 19 13 12Loan-related 103 80 29 50 4Trade-related and remittances 79 57 38 42 2Guarantees 10 14 (24) 5

Investment banking 42 35 23 26 2Service charges 37 28 29 18

Others 19 13 43 9

Sub-total 478 349 37 252 1

Dividends 47 42 12 28 2Rental income 40 38 4 20

Profit from life assurance 215 391 (45) 69 1Premium income from general insurance 73 63 15 37

Other income

Net trading income 196 173 13 39 6Net gain/(loss) from investment securities 118 (15) 912 53 2Net gain from disposal of associates 3 (#) 846 1

Net gain from disposal of properties # 2 (86) #

Others 27 58 (54) 17

Sub-total 344 218 58 110

Total non-interest income 1,197 1,101 9 516 4

Fees and commissions/Total income 18.2% 13.7% 20.4% 16.1Non-interest income/Total income 45.7% 43.2% 41.8% 41.0

Note:

1. “#” represents amounts less than S$0.5 million.

2. “n.m.” denotes not meaningful.

Non-interest income in the second quarter grew by 5% year-on-year to S$516

fee and commission income and higher realised gains on the sale of investmen

by lower dealing income and profit from life assurance. Fee and commission

previous year to S$252 million, led by growth in wealth management

contributions from Bank of Singapore, more than doubled to S$48 million.

management, and trade-related activities also contributed to the year-on

commission income. The sale of investment securities contributed net gains of

with net gains of S$21 million in 2Q09.



OPERATING EXPENSES

S$ million 1H10 1H09 +/(-) 2Q10 2Q09 %

Staff costs

Salaries and other costs 563 434 30 299 217

Share-based expenses 7 2 295 3 (2)

Contribution to defined

contribution plans 46 38 22 25 19

616 474 30 327 234

Property and equipment

Depreciation 75 66 14 38 33

Maintenance and hire of

property, plant & equipment 32 32 1 17 16

Rental expenses 30 23 31 16 12

Others 59 53 10 29 28

196 174 13 100 89

Other operating expenses 249 215 15 132 127

Total operating expenses 1,061 863 23 559 450

Group staff strength

Period end 21,112 19,322 9 21,112 19,322

Average 20,717 19,680 5 20,947 19,455

Cost to income ratio 40.5% 33.8% 45.2% 37.4%

Operating expenses in 2Q10 increased by 24% year-on-year over a low bas

Group resumed investments to expand its businesses in key markets. Staff

million, mainly due to increased headcount and higher base salaries, with the

Singapore being the largest contributor. Group headcount rose 9%, with o

increase coming from the Group’s expansion in overseas markets and n

Malaysia, Indonesia, China and Bank of Singapore. Over the last twelve mont

two additional branches in Malaysia, PT Bank OCBC NISP established 34 ne

and offices in Indonesia, and OCBC Bank (China) opened one new branch a

operating expenses rose 7% to S$232 million, contributed by higher depreci

promotion expenses.



ALLOWANCES FOR LOANS AND OTHER ASSETS

S$ million 1H10 1H09 +/(-) 2Q10 2Q09 %

Specific allowances/

(write-back) for loans

Singapore 3 28 (88) 4 13

Malaysia 12 31 (63) 8 9

Others 1 73 (99) (1) 22

16 132 (88) 11 44

Portfolio allowances for loans 35 7 398 5 5

Allowances/(write-back) for CDOs (8) 92 (109) (1) (2)

Allowances and impairment

charges/(write-back)

for other assets (#) 70 (101) 3 57

Allowances for loans and

impairment of other assets 43 301 (86) 18 104

Note:


Allowances for loans and other assets were S$18 million for the quarter, down

ago and S$25 million in 1Q10.

Specific allowances for loans, net of recoveries and writebacks, were S$11 mill

million in 1Q10 and S$44 million a year ago. By geography, the quarter-on-qua

from the Singapore and Malaysia markets. Portfolio allowances of S$5 million

ago period.

Net allowances of S$2 million were made for other assets, mainly debt and equ

This was lower than the net allowances of S$55 million in the previous year.

has been fully provided for since 1Q09.



LOANS AND ADVANCES

S$ million 30 Jun 2010 31 Mar 2010 31

Loans to customers 91,809 86,996

Bills receivable 3,664 3,408

Gross loans to customers 95,473 90,404

Allowances

Specific allowances (412) (435)

Portfolio allowances (1,045) (1,038)

94,016 88,931

Less: assets pledged (39) (26)

Loans net of allowances 93,977 88,905

By Maturity

Within 1 year 34,732 33,452

1 to 3 years 19,616 17,923

Over 3 years 41,125 39,029

95,473 90,404

By Industry

Agriculture, mining and quarrying 2,429 1,721 Manufacturing 6,458 6,161

Building and construction 15,912 15,389

Housing loans 24,531 22,782

General commerce 10,506 9,713

Transport, storage and communication 5,991 5,769

Financial institutions, investment

and holding companies 10,868 9,889

Professionals and individuals 12,524 12,527

Others 6,254 6,453 95,473 90,404

By Currency

Singapore Dollar 48,649 46,658

United States Dollar 17,237 15,639

Malaysian Ringgit 14,511 14,141

Indonesian Rupiah 3,341 3,016

Others 11,735 10,950

95,473 90,404

By Geography1/

Singapore 53,078 50,659

Malaysia 16,561 16,175

Other ASEAN 6,269 5,673

Greater China 9,703 8,065

Other Asia Pacific 4 432 4 490



NON-PERFORMING ASSETS 1/

S$ millionTotal

NPAs2/ Substandard Doubtful Loss

SecuredNPAs/TotalNPAs

%

Singapore30 Jun 2010 402 173 139 90 67.8 31 Mar 2010 436 183 161 92 67.5

31 Dec 2009 417 163 164 90 65.2 30 Jun 2009 592 316 186 90 52.6

Malaysia30 Jun 2010 615 365 177 73 58.1 31 Mar 2010 635 367 212 56 56.7 31 Dec 2009 635 427 155 53 61.1 30 Jun 2009 590 389 141 60 59.2

Other ASEAN30 Jun 2010 147 43 10 94 65.8 31 Mar 2010 160 40 22 98 60.8 31 Dec 2009 213 95 23 95 59.9 30 Jun 2009 215 99 34 82 57.1

Greater China30 Jun 2010 59 11 48 – 11.8

31 Mar 2010 63 12 51 – 10.4 31 Dec 2009 69 13 56 – 19.9 30 Jun 2009 123 28 95 – 25.4

Other Asia Pacific 30 Jun 2010 31 31 – – 61.6 31 Mar 2010 36 33 3 – 54.8 31 Dec 2009 47 40 7 – 51.8 30 Jun 2009 108 22 86 – 18.7

Rest of the World2/

30 Jun 2010 62 18 40 4 83.2 31 Mar 2010 72 17 51 4 81.9 31 Dec 2009 67 18 46 3 40.3 30 Jun 2009 157 17 134 6 17.3



NON-PERFORMING ASSETS (continued)

Non-performing loans (“NPLs”) declined 4% from the previous quarter to S$1,260 milindustry, the decrease in NPLs during the quarter was mainly from the manufactu

professionals and individuals sectors. By geography, the decrease was mainly from S

The Group’s NPL ratio continued to improve to 1.3%, from 1.5% in the previous quarte

The Singapore and Malaysia NPL ratios fell marginally versus the previous quarter to 0

from 3.5% respectively.

Including classified debt securities, contingent liabilities and CDOs, the Group’s total no

were S$1,316 million, 26% lower than a year ago and 6% lower as compared with the NPAs, 49% (Mar 10: 47%; Dec 09: 52%) were in the substandard category and 61%

were secured by collateral.

30 Jun 2010 31 Mar 2010 31 Dec 20 % of % of

S$ million loans S$ million loans S$ million

NPLs by Industry

Loans and advancesAgriculture, mining

and quarrying 9 0.4 10 0.6 14

Manufacturing 396 6.1 414 6.7 402

Building and

Construction 156 1.0 149 1.0 203

Housing loans 215 0.9 227 1.0 224

General commerce 153 1.5 170 1.8 218

Transport, storage

and communication 108 1.8 106 1.8 109 Financial institutions,

Investment and

holding companies 23 0.2 28 0.3 37

Professionals

and individuals 162 1.3 177 1.4 140

Others 38 0.6 38 0.6 37

Total NPLs 1,260 1.3 1,319 1.5 1,384

Classified debt securities 14 29 31

Classified contingentliabilities 42 54 33

Total NPAs 1,316 1,402 1,448

30 Jun 2010 31 Mar 2010 31 Dec 20 S$ million % S$ million % S$ million

NPA b P i d O d



CUMULATIVE ALLOWANCES FOR ASSETS

S$ million

Totalcumulativeallowances

Specificallowances

1/

Portfolioallowances

Speallowa

% of to

Singapore

30 Jun 2010 579 66 513

31 Mar 2010 599 73 526

31 Dec 2009 588 76 512

30 Jun 2009 659 145 514

Malaysia

30 Jun 2010 475 227 248

31 Mar 2010 482 238 244

31 Dec 2009 463 233 230

30 Jun 2009 451 231 220

Other ASEAN

30 Jun 2010 138 67 71 31 Mar 2010 156 85 71

31 Dec 2009 177 111 66

30 Jun 2009 142 80 62

Greater China

30 Jun 2010 163 49 114

31 Mar 2010 154 53 101

31 Dec 2009 149 55 94 30 Jun 2009 175 83 92

Other Asia Pacific

30 Jun 2010 57 3 54

31 Mar 2010 55 3 52

31 Dec 2009 54 3 51

30 Jun 2009 116 73 43

Rest of the World

30 Jun 2010 59 14 45

31 Mar 2010 58 14 44

31 Dec 2009 52 6 46

30 Jun 2009 190 137 53



DEPOSITS

S$ million 30 Jun 2010 31 Mar 2010 31

Deposits of non-bank customers 112,313 108,523

Deposits and balances of banks 13,661 14,362

125,974 122,885

Loans to deposits ratio(net non-bank loans/non-bank deposits) 83.7% 81.9%

S$ million 30 Jun 2010 31 Mar 2010 31

Total Deposits By Maturity

Within 1 year 123,801 120,696

1 to 3 years 1,706 1,605

Over 3 years 467 584

125,974 122,885

Non-Bank Deposits By ProductFixed deposits 55,647 57,546

Savings deposits 23,758 22,703

Current account 26,626 23,602

Others 6,282 4,672

112,313 108,523

Non-Bank Deposits By Currency

Singapore Dollar 60,828 59,517

United States Dollar 15,668 15,018 Malaysian Ringgit 16,209 16,514

Indonesian Rupiah 3,935 3,526

Others 15,673 13,948

112,313 108,523

Non-bank customer deposits grew 16% year-on-year, with Bank of Singapore’

of total customer deposits as at 30 June 2010. The growth was led by an incre

savings deposits, which grew by 53% and 21% respectively from a year ago

1%.

The Group’s loans-to-deposits ratio was 83.7%, an increase from 81.9% as at

a year ago.



CAPITAL ADEQUACY RATIOS

S$ million 30 Jun 2010 31 Mar 2010 31

Tier 1 Capital

Ordinary and preference shares 7,792 7,413

Disclosed reserves/others 13,654 13,701

Goodwill/others (5,285) (5,398)

Eligible Tier 1 Capital 16,161 15,716

Tier 2 Capital

Subordinated term notes3,211

3,205 Others (2,239) (2,424)

Total Eligible Capital 17,133 16,497

Risk Weighted Assets 105,073 108,505

Tier 1 capital adequacy ratio 15.3% 14.4%

Total capital adequacy ratio 16.3% 15.2%

As at 30 June 2010, the Group Tier 1 ratio and total capital adequacy ratio

16.3% respectively. These ratios remain well above the corresponding regula

10%. The Group’s core Tier 1 ratio, excluding perpetual and innovative prefere

compared with 10.8% at the end of the previous quarter.



UNREALISED VALUATION SURPLUS

S$ million 30 Jun 2010 31 Mar 2010 31 De

Properties1/

2,334 2,318

Equity securities2/

2,639 1,731

Total 4,973 4,049

Notes:

1. Includes properties classified as investment properties and assets held for sale. Property val

on external valuations at year-end, with internal reviews performed for other quarters.

2. Comprises mainly investments in quoted associates and subsidiaries, which are valued basedof each quarter.

3. The carrying values of subsidiaries and associates on the balance sheet are measured at co

while those of properties are measured at cost less accumulated depreciation, and impairment


The Group’s unrealised valuation surplus represents the difference between

properties and investments in quoted subsidiaries and associates as compared

market prices of the quoted investments at the respective periods.

The valuation surplus as at 30 June 2010 was S$4.97 billion, an increase of 2

the end of the previous quarter. The increase was the result of a higher su

mainly from the Group’s stake in Great Eastern Holdings (“GEH”).



PERFORMANCE BY BUSINESS SEGMENT

OCBC Group’s businesses are presented according to the following custom

Global Consumer Financial Services, Global Corporate Banking, Global Treasu

Operating Profit by Business Segment

S$ million 1H10 1H09 +/(-) 2Q10 2Q09

%

Global Consumer

Financial Services 267 293 (9) 126 154

Global Corporate Banking 577 399 44 285 229

Global Treasury 295 374 (21) 101 137

Insurance 274 409 (33) 83 139

Others 297 64 366 177 64


allowances and amortisation

for total business segments 1,710 1,539 11 772 723

Add/(Less):

- Joint income elimination1/

(164) (155) 6 (91) (83)

- Items not attributed to

business segments (52) (21) 150 (33) (2)


allowances and amortisation 1,494 1,363 10 648 638

Notes:1. These are joint income allocated to business segments to reward cross-selling activities.

2. “n.m.” denotes not meaningful.

Global Consumer Financial Services

Global Consumer Financial Services comprises the full range of products

individuals, including deposit products (checking accounts, savings and fixed

(housing loans and other personal loans), credit cards and wealth managem

bancassurance products and structured deposits).

Compared with the year ago period, operating profit after allowances of the co

9% to S$267 million in 1H10, and 19% to S$126 million in 2Q10. Increases

and 2Q10 outweighed higher wealth management fee income and lower net allo



PERFORMANCE BY BUSINESS SEGMENT (continued)

Compared with the year ago period, Global Corporate Banking’s operatin

increased by 44% to S$577 million in 1H10, driven by growth in net inte

commission income as well as lower net allowances. Net interest income inc

volumes and wider loan spreads.

As compared with 2Q09, operating profit increased by 24%, attributable to high

increased trade-related fee and commission income.

Global Treasury

Global Treasury engages in foreign exchange activities, money market ope

derivatives trading, and also offers structured treasury products and financial so

investment and hedging needs.

Compared with the year ago period, Global Treasury’s operating profit declinedin 1H10, and by 27% to S$101 million in 2Q10 from lower net interest incom

gapping opportunities.

Insurance

The Group’s insurance business, including its fund management activities, is ca

subsidiary GEH, which provides both life and general insurance products tSingapore and Malaysia.

Compared with the year ago period, operating profit from GEH fell 33% from

S$274 million in 1H10, mainly due to the inclusion in 1H09 of S$201 million of

mainly from the adoption of the risk based capital framework in Malaysia. Exc

gains, GEH’s operating profit would have increased by 32%, contributed mai

both life and general insurance. Operating profit fell 40% from S$139 million 2Q10, due to poor investment performance, although partly offset by improve

through lower operating expenses and improved claims experience.

After non-controlling interests and tax, GEH’s contribution to the Group’s core n




GlobalConsumer Global

Financial Corporate Global S$ million Services Banking Treasury Ins

1H10

- External customers 563 834 407 - Intersegment income – –

Total income

563 834 407 Operating profit before

allowances and amortisation 283 575 295 Amortisation of intangible assets – – Write-back/(allowances and impairment)

for loans and other assets (16) 2 – Operating profit afterallowances and amortisation

267 577 295

Other information:Capital expenditure 7 4 # Depreciation 7 4 #

1H09

- External customers 564 718 485 - Intersegment income – – Total income 564 718 485

Operating profit beforeallowances and amortisation 327 492 385 Amortisation of intangible assets – – Allowances and impairment

for loans and other assets (34) (93) (11) Operating profit after

allowances and amortisation 293 399 374

Other information:

Capital expenditure 15 3 1 Depreciation 8 4 #

Note:





GlobalConsumer Global

Financial Corporate Global S$ million Services Banking Treasury Ins 2Q10

- External customers 288 429 159 - Intersegment income – – Total income

288 429 159

Operating profit beforeallowances and amortisation 134 288 101

Amortisation of intangible assets – – Allowances and impairment

for loans and other assets (8) (3) – Operating profit after

allowances and amortisation

126 285 101

Other information:

Capital expenditure 4 2 # Depreciation 4 2 #

2Q09



allowances and amortisation171 250 137 Amortisation of intangible assets – –

Write-back/(allowances and impairment)

for loans and other assets (17) (21) # Operating profit after

allowances and amortisation 154 229 137

Other information:

Capital expenditure 6 2 # Depreciation 4 2 #

1Q10





Global

Consumer GlobalFinancial Corporate Global

S$ million Services Banking Treasury Insu

At 30 June 2010

Segment assets 31,059 64,118 44,756 Unallocated assetsElimination

Total assets

Segment liabilities 45,726 50,260 32,420 Unallocated liabilitiesElimination

Total liabilities

Other information:

Gross non-bank loans 29,859 54,910 1,169 NPAs 262 872 –

At 31 March 2010

Segment assets 29,223 60,819 46,330 Unallocated assetsElimination

Total assets

Segment liabilities 45,149 50,086 28,409 Unallocated liabilitiesElimination

Total liabilities

Other information:

Gross non-bank loans 28,028 51,956 1,145 NPAs 273 932 –

At 31 December 2009

Segment assets 27,900 56,549 46,761 Unallocated assets

Elimination

Total assets

Segment liabilities 44,333 48,653 23,405

Unallocated liabilitiesElimination

Total liabilities

Other information:

Gross non-bank loans 26,702 49,878 1,046 NPAs 280 1 018



PERFORMANCE BY GEOGRAPHICAL SEGMENT

1H10 1H09 2Q10 2

S$ million % S$ million % S$ million % S$ mi

Total income

Singapore 1,674 64 1,485 58 764 62 7

Malaysia 598 23 727 29 301 24 2

Other ASEAN 191 7 183 7 91 7

Asia Pacific 137 5 127 5 69 6

Rest of the World 21 1 29 1 11 1

2,621 100 2,551 100 1,236 100 1,2

Profit before income tax

Singapore 992 66 777 57 406 63 4

Malaysia 381 26 511 37 184 28

Other ASEAN 49 3 63 5 23 4

Asia Pacific 64 4 (3) – 31 5

Rest of the World 7 1 16 1 3 –

1,493 100 1,364 100 647 100 6

30 Jun 2010 31 Mar 2010 31 Dec 20S$ million % S$ million % S$ million

Total assets

Singapore 136,912 64 134,765 65 125,001

Malaysia 45,214 21 45,281 22 43,070

Other ASEAN 7,468 4 6,897 3 6,922

Asia Pacific 20,061 9 17,613 8 15,754

Rest of the World 3,518 2 4,168 2 3,553 213,173 100 208,724 100 194,300

The geographical segment analysis is based on the location where assets or

For 2Q10, Singapore accounted for 62% of total income and 63% of pre-

accounted for 24% of total income and 28% of pre-tax profit.

In 1H10, the pre-tax profit for Singapore rose 28% year-on-year, led by highdealing and investment income and significantly lower allowances for loans and

Malaysia’s pre-tax profit for 1H10 decreased 25% year-on-year to S$381 m

recurring insurance gains recorded in the previous year arising mainly from the



CONSOLIDATED INCOME STATEMENT (UNAUDITED)

S$ million 1H10 1H09 +/(-) 2Q10 2Q09 %

Interest income 2,077 2,200 (6) 1,056 1,054

Interest expense (653) (750) (13) (336) (344

Net interest income 1,424 1,450 (2) 720 710

Premium income 2,578 2,306 12 1,315 1,200

Investment income 851 914 (7) 382 771

Net claims, surrenders and annuities (1,723) (1,853) (7) (930) (954

Change in life assurance fund

contract liabilities (1,070) (508) 110 (492) (617

Commission and others (421) (468) (10) (206) (275

Profit from life assurance 215 391 (45) 69 125

Premium income from general insurance 73 63 15 37 32

Fees and commissions (net) 478 349 37 252 194

Dividends 47 42 12 28 25

Rental income 40 38 4 20 19

Other income 344 218 58 110 99

Non-interest income 1,197 1,101 9 516 494

Total income 2,621 2,551 3 1,236 1,204

Staff costs (616) (474) 30 (327) (234

Other operating expenses (445) (389) 14 (232) (216

Total operating expenses (1,061) (863) 23 (559) (450


allowances and amortisation 1,560 1,688 (8) 677 754

Amortisation of intangible assets (23) (24) – (11) (12

Allowances for loans andimpairment of other assets (43) (301) (86) (18) (104

Operating profit after allowances

and amortisation 1,494 1,363 10 648 638

Share of results of associates

and joint ventures (1) 1 n.m. (1) 1

Profit before income tax 1,493 1,364 9 647 639

Income tax expense (220) (248) (11) (104) (129

Profit for the period 1,273 1,116 14 543 510

Profit attributable to:

Equity holders of the Bank 1,179 1,011 17 503 466

N t lli i t t 94 105 (11) 40 44



CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

S$ million 1H10 1H09 +/ - 2Q10 2Q09%

Profit for the period 1,273 1,116 14 543 51

Other comprehensive income:Available-for-sale financial assets

Gains/(losses) for the period (125) 648 (119) (163) 64

Reclassification of (gains)/losses

to income statement

- on disposal (118) 14 (912) (53) (22- on impairment (5) 150 (103) 2 52Tax on net movements (11) (64) 84 3 (75

Exchange differences on translatingforeign operations 143 89 60 8 1Other comprehensive incomeof associates and joint ventures 1 4 (79) 1 (#Total other comprehensiveincome, net of tax (115) 841 (114) (202) 614

Total comprehensive incomefor the period, net of tax 1,158 1,957 (41) 341 1,124

Total comprehensive incomeattributable to:

Equity holders of the Bank 1,033 1,832 (44) 297 1,05Non-controlling interests 125 125 – 44 6

1,158 1,957 (41) 341 1,124

Note:




BALANCE SHEETS (UNAUDITED)

GROUP

S$ million30 Jun2010

31 Mar2010

31 Dec2009 @

30 Jun2009

30 Jun2010

EQUITY

Attributable to equity holders

of the Bank

Share capital 7,792 7,413 7,376 6,994 7,792

Capital reserves 794 883 986 1,141 606

Fair value reserves 1,239 1,451 1,506 960 610

Revenue reserves 10,056 9,981 9,103 8,477 6,275

19,881 19,728 18,971 17,572 15,283

Non-controlling interests 2,807 2,840 2,808 2,758 – Total equity 22,688 22,568 21,779 20,330 15,283

LIABILITIES

Deposits of non-bank customers 112,313 108,523 100,633 96,589 81,975

Deposits and balances of banks 13,661 14,362 10,958 10,403 11,880

Due to subsidiaries – – – –4,195

Due to associates 115 173 119 112 110

Trading portfolio liabilities 2,006 1,832 2,016 1,474 1,948

Derivative payables 4,801 4,076 3,918 4,271 4,532

Other liabilities 3,589 3,405 3,215 2,940 1,243

Current tax 658 737 607 517 264Deferred tax 973 991 946 711 110

Debts issued 6,934 6,814 6,863 5,550 8,145

145,050 140,913 129,275 122,567 114,402

Life assurance fund liabilities 45,435 45,243 43,246 40,532 –

Total liabilities 190,485 186,156 172,521 163,099 114,402

Total equity and liabilities 213,173 208,724 194,300 183,429 129,685

ASSETS

Cash and placements

with central banks 11,784 9,208 13,171 6,100 7,567Singapore government

treasury bills and securities 11,612 11,385 10,922 12,089 11,074

Other government

treasury bills and securities 5,723 6,581 5,564 6,326 2,790

Placements with

and loans to banks 16,809 20,263 15,821 18,604 12,487

Loans and bills receivable 93,977 88,905 80,876 77,599 67,307

Debt and equity securities 13,035 12,875 11,680 10,070 8,976

Assets pledged 572 159 279 114 475

Assets held for sale 1 – – # 1

Derivative receivables 4,588 4,136 3,973 3,877 4,328

Other assets 2,930 3,144 2,911 2,751 840

Deferred tax 61 59 64 98 –

Associates and joint ventures 270 265 226 137 122

Subsidiaries – – – –10,895

Property, plant and equipment 1,624 1,628 1,609 1,623 407

Investment property 765 769 765 727 549



STATEMENT OF CHANGES IN EQUITY – GROUP (UNAUDITEDFor the half year ended 30 June 2010

Attributable to equity holders of the Bank

S$ millionSharecapital

Capitalreserves

Fair valuereserves

Revenuereserves T

Balance at 1 January 2010 7,376 986 1,506 9,103 1

Total comprehensive income for the period – – (267) 1,3

Transactions with owners, recorded directlyin equity

Contributions by and distributions to ownersTransfers – (175) –

Dividends to non-controlling interests – – – DSP reserve from dividends onunvested shares – – – Ordinary and preference dividendspaid in cash – – – (

Share-based staff costs capitalised – 8 –

Shares issued in lieu of ordinary dividends 359 – – (359)

Shares issued to non-executive directors 1 – – –

Shares purchased by DSP Trust – (2) –

Shares vested under DSP Scheme – 8 –

Treasury shares transferred/sold 56 (31) – –

Total contributions by and distributions toowners 416 (192) – (320)

Change in ownership interests in a subsidiarythat does not result in a loss of control

Acquisition of non-controlling interests – – –

Total changes in ownership interests insubsidiaries – – –

Balance at 30 June 2010 7,792 794 1,239 10,056 1

Included:Share of reserves of associatesand joint ventures – – #

Balance at 1 January 2009 6,638 1,329 222 7,685 1

Total comprehensive income for the period – – 738 1,094

Transfers – (176) – 176

Change in non-controlling interests – – – – Dividends to non-controlling interests – – – – DSP reserve from dividendsof unvested shares – – – 2 Ordinary and preference dividendspaid in cash – – – (155)Share-based staff costs capitalised – 3 – –



STATEMENT OF CHANGES IN EQUITY – GROUP (UNAUDITEDFor the three months ended 30 June 2010

Attributable to equity holders of the Bank

GROUPS$ million

Sharecapital

Capitalreserves

Fair valuereserves

Revenuereserves T

Balance at 1 April 2010 7,413 883 1,451 9,981 1

Total comprehensive income for the period – – (212)

Transactions with owners, recordeddirectly in equity

Contributions by and distributions to ownersTransfers – (88) –

Dividends to non-controlling interests – – –

DSP reserve from dividends of unvested shares – – –

Ordinary and preference dividendspaid in cash – – – (

Share-based staff costs capitalised – 4 –

Shares issued in lieu of ordinary dividends 359 – – (359)

Shares issued to non-executive directors 1 – – –

Shares purchased by DSP Trust – (2) –

Treasury shares transferred/sold 19 (3) – – Total contributions by and distributions toowners 379 (89) – (407)

Change in ownership interests in a subsidiarythat does not result in a loss of control

Acquisition of non-controlling interests – – –

Total changes in ownership interests insubsidiaries – – –

Balance at 30 June 2010 7,792 794 1,239 10,056 1

Included:Share of reserves of associatesand joint ventures – – #

Balance at 1 April 2009 6,658 1,233 380 8,389 1

Total comprehensive income for the period – – 580 478

Transfers – (88) – 88 Change in non-controlling interests – – – –

Dividends to non-controlling interests – – – – DSP reserve from dividendsof unvested shares – – – 2 Ordinary and preference dividendspaid in cash – – – (155)Share-based staff costs capitalised – (1) – – Shares issued in lieu of ordinary dividends 325 – – (325)Sh i d t ti di t #



STATEMENT OF CHANGES IN EQUITY – BANK (UNAUDITED)For the half year ended 30 June 2010

BANKS$ million

Sharecapital

Capitalreserves

Fair vareserv

Balance at 1 January 2010 7,376 768 6

Total comprehensive income for the period –

Transfers – (170

DSP reserve from dividends on unvested shares –

Ordinary and preference dividends paid in cash – –

Share-based staff costs capitalised – Shares issued in lieu of ordinary dividends 359 –

Shares issued to non-executive directors 1 –

Treasury shares transferred/sold 56 –

Balance at 30 June 2010 7,792 606 6

Balance at 1 January 2009 6,638 1,099

Total comprehensive income for the period – – 3

Transfers – (170)DSP reserve from dividends on unvested shares – –

Ordinary and preference shares – –

Share-based staff costs capitalised – 3

Shares issued in lieu of ordinary shares 325 –

Shares issued to non-executive directors # –


Balance at 30 June 2009 6,994 932 3

For the three months ended 30 June 2010

BANKS$ million

Sharecapital

Capitalreserves

Fair vareserv

Balance at 1 April 2010 7,413 687 5

Total comprehensive income for the period – –

Transfers – (85

DSP reserve from dividends on unvested shares –

Ordinary and preference dividends paid in cash – –

Share-based staff costs capitalised –

Shares issued in lieu of ordinary dividends 359 –

Shares issued to non-executive directors 1 –


Balance at 30 June 2010 7 792 606 6



CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED)For the half year ended 30 June 2010

S$ million 1H10 1H0

Cash flows from operating activitiesProfit before income tax 1,493 1,36

Adjustments for non-cash itemsAmortisation of intangible assets 23 2Allowances for loans and impairment of other assets 43 30Change in fair value for hedging transactions and trading securities # (28Depreciation of property, plant and equipmentand investment property 75 6

Net gain on disposal of property, plant and equipmentand investment property (1) (Net (gain)/loss on disposal of government, debt and equity securities (118) 1Net (gain)/loss on disposal of associates and interest insubsidiaries (2)

Share-based staff costs 8

Share of results of associates and joint ventures 1 (Items relating to life assurance fund

Surplus before income tax 268 46Surplus transferred from life assurance fund (215) (39

Operating profit before change in operating assets and liabilities 1,575 1,55

Change in operating assets and liabilitiesDeposits of non-bank customers 5,676 2,53Deposits and balances of banks 2,469 29Derivative payables and other liabilities 1,141 (3,42Trading portfolio liabilities (10) 36Government securities and treasury bills (51) (4,50Trading securities (821) 53Placements with and loans to banks 974 (2,70Loans and bills receivable (8,389) 2,06Derivative receivables and other assets

(593)2,48

Net change in investment assets and liabilities of life assurance fund (46) (24Cash from/(used in) operating activities 1,925 (1,05Income tax paid (216) (20Net cash from/(used in) operating activities 1,709 (1,25

Cash flows from investing activities

Dividends from associates 3

Decrease/(increase) in associates and joint ventures (62) (Net cashflow from acquisition of subsidiaries (2,010) Purchases of debt and equity securities (3,455) (1,02

Purchases of property, plant and equipment and investment property (80) (7Proceeds from disposal of debt and equity securities 2,512 1,91Proceeds from disposal of interest in subsidiaries –

Proceeds from disposal of associates 14 Proceeds from disposal of property, plant and equipmentand investment property 4

Net cash (used in)/from investing activities (3,074) 82



SHARE CAPITAL AND OPTIONS ON SHARES IN THE BANK

The following table shows movements in the issued ordinary shares of the Bank

Half year ended 30 June Th

Number of Shares 2010 2009

Issued ordinary shares

Balance at beginning of period 3,245,120,283 3,126,565,512 3,24

Shares issued to non-executive directors 60,000 43,200

Shares issued pursuant to Scrip Dividend

Scheme 45,284,747 67,329,773 4Balance at end of period 3,290,465,030 3,193,938,485 3,29

Treasury shares

Balance at beginning of period (14,781,749) (25,746,212) (1

Shares sold/transferred to employees

pursuant to OCBC Share Option Schemes 3,957,797 1,893,760

Shares sold/transferred to employees

pursuant to OCBC Employee

Share Purchase Plan 229,772 – Shares transferred to DSP Trust pursuant to

OCBC Deferred Share Plan 3,469,655 4,898,106

Shares sold for cash 160 –

Balance at end of period (7,124,365) (18,954,346)

Total 3,283,340,665 3,174,984,139 3,28

From 1 April 2010 to 30 June 2010 (both dates inclusive), the Bank utilised 2

upon the exercise of options by employees of the Group pursuant to OCBC Sh

and 2001. As at 30 June 2010, the number of options outstanding under

Schemes was 38,973,665 (30 June 2009: 44,574,984).

From 1 April 2010 to 30 June 2010 (both dates inclusive), the Bank utilised 172

the exercise of acquisition rights by employees of the Group pursuant to

Purchase Plan (“ESPP”). As at 30 June 2010, the number of acquisition rig

OCBC ESPP was 7,718,223 (30 June 2009: 3,552,559).

From 1 April 2010 to 30 June 2010 (both dates inclusive), the Bank transferre



OTHER MATTERS / SUBSEQUENT EVENTS

1. On 1 July 2010, the Bank announced that it completed the acquisition

incorporated in Korea, as part of the acquisition of ING Asia Private B

Singapore”) and its affiliated entities, for a cash consideration of US$10

Following the acquisition, ING Securities Co. Ltd. has become a whol

Bank.

2q10 financial results (website)

Documents