My first Publication ocbc_ar17_fullreport_english | Page 184

NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2017
9.
ALLOWANCES FOR LOANS AND IMPAIRMENT FOR OTHER ASSETS
GROUP
2017
$’000
Specific allowances for loans (Note 28)
(Write-back)/portfolio allowances for loans (Note 29)
Impairment charge for securities classified as available-for-sale
Impairment charge for securities classified as loans
and receivables (Note 32)
(Write-back)/impairment charge for associates,
subsidiaries and other assets (Note 32)
Net allowances and impairment
1,407,257
(786,004)
50,389
–
(94)
671,548
BANK
2016
$’000
484,215
171,466
33,471
2017
$’000
1,244,744
(608,654)
21,888
2016
$’000
309,646
96,287
4,023
34,543 – 26,671
2,165
725,860 50,277
708,255 13,445
450,072
2016
$’000 2017
$’000
10. INCOME TAX EXPENSE
GROUP
2017
$’000
Current tax expense
Deferred tax credit (Note 20)
Under/(over) provision in prior years
Charge to income statements
896,764
(54,911)
841,853
(38,908)
802,945
BANK
707,231
(44,168)
663,063
(34,190)
628,873
370,521
(116)
370,405
(38,678)
331,727
2016
$’000
312,723
(19,903)
292,820
(24,744)
268,076
The tax on operating profit differs from the amount that would arise using the Singapore corporate tax rate as follows:
GROUP
Operating profit after allowances and amortisation
Prima facie tax calculated at tax rate of 17%
Effect of:
Different tax rates in other countries
Income not subject to tax
Income taxed at concessionary rates
Singapore life assurance funds
Non-deductible expenses and losses
Others
The deferred tax expense/(credit) comprised:
Accelerated tax depreciation
Depreciable assets acquired in business combinations
Tax losses
Unrealised gains/(losses) on financial assets
Write-back/(allowances) for assets
Other temporary differences
182
OCBC ANNUAL REPORT 2017
BANK
2017
$’000 2016
$’000 2017
$’000 2016
$’000
4,826,500 3,878,641 2,424,050 2,555,381
820,505 659,369 412,089 434,415
126,910
(31,593)
(86,403)
(79,982)
55,929
36,487
841,853 76,690
(91,149)
(46,748)
(22,075)
22,019
64,957
663,063 36,385
(130,292)
(82,900)
–
91,418
43,705
370,405 3,945
(160,681)
(46,601)
–
2,467
59,275
292,820
458
(11,787)
(1,573)
(31,896)
38,846
(48,959)
(54,911) 6,621
(11,936)
(9,165)
2,567
(35,556)
3,301
(44,168) 3,130
(2,159)
(1,854)
6,843
(1,375)
(4,701)
(116) 4,880
(3,509)
(10,485)
1,372
(11,548)
(613)
(19,903)