POST OFFICE SAVINGS BANK

Annual Report 1986 Contents Highlights Chairman's Statement/2 Hoard of Directors/3 The Year in Brief/4 POSB Services/4 Community Relations/10 Personnel/11 Organisation Structure/12 Financial Statements/13 Changes and Trends/21 Directory of Offices/22 Subsidiary and Associate Companies/25 WE THOUGHT YOU MAY APPRECIATE A COPY OF OUR ANNUAL REPORT AND HOPE YOU WILL FIND IT OF INTEREST

POST OFFICE SAVINGS BANK SINGAPORE Highlights of 1986 Number of Number of Savings Accounts Savings Accounts Balances of All Accounts (in Millions) Number of Savings Transactions Interest Credited Number of Cash-On-Line Tellers Number of Current Accounts Number of Giro Standing Orders

Total Depositors' 20 Balances (in Millions of S$j 16 12

8

4

Number of Savings Transactions (in Millions)

Number of Giro Standing Orders (in Hundred Thousands) •Chairman's each month. A total of 1,756 and government Statement organisations from the departments. The response private and the public to NETS had been I am pleased to report the sectors participate in the encouraging. In fact, the Bank had a satisfying year in salary crediting scheme. This company recorded its $25 1986. Two milestones were has resulted in substantial million sales target in recorded during the year — savings in manpower, August, just seven months savings deposits breached insurance and security costs after its launch. the $10 billion mark, and the for the participating We are pleased that our number of savings accounts organisations. Loss of man- efforts to pave the way to a exceeded 3 million. hours is also minimised as cashless society are showing Although POSB's interest workers do not have to results. We will continue to rates softened in line with queue for their paychecks. focus our efforts on general market trends, Instead, they can withdraw improving cashless payment savings deposits increased by their salaries anytime, from systems. And our aim of 16% to reach $10,559 million 279 Cash-On-Line providing convenient and at the end of the year. Automated Teller Machines efficient customer services Growth was also recorded located all over Singapore. remains unchanged. in the other services, most This convenient service has In this regard, I would significantly in services remained popular since its like to record my which contribute to a introduction in December appreciation to the staff of reduction in the volume of 1979. For 1986, the number POSB for their diligence and cash transactions. of cardholders increased by commitment in making I must make reference to 17% to 883,000. Together, banking convenient and the continuing impact of they conducted over 27 pleasant. POSB's electronic banking million transactions last 1986 also saw the services which we have year. This was a 35% retirement of Dr Toh Peng actively promoted in support increase over the previous Kiat, Mr Chan Sek Keong, of the national drive to year. As at end June, 1987, Mr Lee Hock Ley and Mr conserve manpower POSB is servicing 946,000 Ng Kiat Chong from the resources and increase cardholders. We expect that, Board. I wish to express my productivity. And these at the current rate of growth, appreciation for their advice were the services which we should issue our one and contribution to the recorded the most significant millionth card before the end POSB. We welcome Dr growth. of this year. Wang Kai Yuen and Mr GIRO payment service— Another popular cashless Chao Hick Tin who were an electronic funds transfer service, the POSB Current appointed to the Board in payment system, for Accounts, attracted over February 1987. example, saw a 57% jump in 129,000 account holders. the number of standing In January 1986, the orders, to a record 1.34 Network for Electronic million. Transfers (NETS), a joint And today, more than venture between POSB and 500,000 salary credits are four local banks, DBS Bank, made to POSB accounts OCBC, OUB and UOB, Chua Kim Yeow launched EFTPOS. To date, Executive Chairman, POSB 801 NETS terminals have June 1987 been installed at 344 outlets throughout the island, covering supermarkets, retail stores, petrol stations Board of Directors

Mr Chua Kim Yeow Mr Hsuan Owyang Executive Chairman Deputy Chairman

Mr Lee Ek Tieng Mr Thai Chee Ken

Dr Wang Kai Yuen Mr Chao Hick Tin • The Year In Brief The interest rates during the year were: • Savings Accounts Number of Accounts The number of savings accounts with the bank reached 3.1 million at the end of 1986 — an increase of 189,000 or 6.6% over 1985.

Depositors' Balances Total balances standing to All interest earned is exempt the credit of depositors from income-tax. increased 15.7% during the year, from $9,129 million to • Current Accounts $10,559 million. The number of current accounts reached 114,000 at Deposits and Withdrawals the end of 1986. This was an Deposits received during the increase of 34% over the year totalled $12,084 previous year. million. Withdrawals amounted to $11,047 • GIRO Standing Orders million. The net deposit The Bank's GIRO service inflow was $1,037 million. registered a 57% increase. The number of standing Transactions Handled orders at year end was 1.34 The number of transactions million. handled rose from 42 million in 1985 to 55 million in 1986. • POSB Services Cash Turnover • Branch Network The Bank handled a cash New Branches turnover of $23,131 million, Seven new branches were a 13.2% increase over 1985. opened during the year. Savings bank counters at Interest Credited and three post offices were Accrued replaced by new and better- Interest credited and equipped branches near accrued to depositors' these post offices. By the end of the year, the Bank The POSB touches the accounts totalled $416.7 had 137 outlets throughout lives of almost every million, a reduction of $27.9 the Republic. Singaporean. million or 6.3% over the previous year. By the end of 1986, the Principal Branches number of savings Interest Rates The Jurong and Raffles City accounts reached 3.1 In line with prevailing branches, both Principal million, an increase of market conditions, the Bank Branches, opened on 189,000 or 6.6% over reduced its interest rates on February 3 and December 29 1985. four occasions during the respectively. There were 21 year. Principal Branches at the end of the year. The full range of POSB services are available at these branches as well as higher withdrawal limits of up to $10,000 in cash and $50,000 by cheque. Principal Branches also accept and process applications for renovation and housing loans.

Longer Banking Hours Banking facilities on Saturday afternoons were available at 20 branches. Nine branches located in selected department stores, supermarkets and housing estates offered personalised night banking services up to 7.00 pm.

• Cashless Services POSB has been actively supporting the national drive to reduce cash transactions to conserve manpower resources. During the year the Bank continued to promote services that facilitate cashless payments. Beginning with the Salary The Jurong Branch, Crediting Scheme, workers a principal branch, are paid monthly through in operation from 3.2.86, their POSB accounts. They with higher withdrawal can then pay their household limits of $10,000 in cash bills through GIRO or and $50,000 by cheque. POSBLine, or by a POSB cheque. Or they can use their Cash-On-Line cards instead of cash to pay for purchases where NETS point-of-sale terminals are installed. And when they need to draw on their salaries, they can do so through an extensive network of Automated Teller Machines.

Raffles City Branch — 1 of the 2 principal branches opened in 1986, offering savings accounts with higher withdrawal limits, the current accounts facility, sale of Travellers' Cheques and US$ Bank Drafts. Salary Crediting Scheme At the year's end, 532,000 salary credits were being made to POSB accounts. A total of 1,756 companies participated in the Scheme.

Current Accounts The POSB Current Accounts facility continued to be popular. The number of accounts increased 34% to 114,000 accounts. This is due largely to its attractive features. No introducer is required and depositors can apply for the current accounts facility at 78 outlets. Current account holders need not maintain a minimum balance in their accounts and hence no service charge is imposed.

POSBLine This telephone banking service enables subscribers With the Giro payment to make account balance service, payment is enquiries, request for effected through computer cheque books, transfer funds tapes. between their savings and The Giro payment service current accounts and make is becoming so much a electronic payments to 17 part of our lives that by billing organisations. Among end 1986, there were 1.34 the organisations million Giro standing participating in the scheme orders. are the Public Utilities Board, Telecoms, Income and Property Tax Divisions and the Jurong Town Corporation. Subscribers can also donate to the Community Chest of Singapore through POSBLine. NETS, an electronic funds transfer at point-of-sale system, allows the payment of purchases at supermarkets and retail stores with the use of a Cash-On-Line card. By August 1986, seven months after the launch of NETS, a transaction value of $25 million was reached. GIRO Payment Service Cardholders conducted 27 In line with the drive for million transactions, a 35% cashless transactions, Multi- increase over the previous Revenue Collection Centres year. In response to were closed in phases. This changing demand, the Bank gave a boost to the Bank's re-sited some of its GIRO payment service Automated Teller Machines. which registered a 57% increase in standing orders Travellers' Cheques to 1.34 million by the end of The sale of travellers' 1986. cheques in Australian Six new billing Dollars, US Dollars, Sterling organisations joined the Pound and Japanese Yen scheme in 1986. They were was extended to Raffles City the National University of branch in December 1986. Singapore, SAF Reservists The other ten branches Association, Nanyang where travellers' cheques Technological Institute, can be purchased and Overseas Assurance encashed are: Corporation Ltd, Asia Life Assurance Society Ltd and • POSB Centre Public Life Assurance Co • Centrepoint Ltd. The total number of • City House billing organisations was 32. • Clifford Centre • Far East Plaza Network for Electronic • Goldhill Centre Transfers (NETS) • Jurong Town On 18 January 1986, the • Orchard Towers Bank, together with DBS • Robinson Road Bank, OCBC, OUB and • . UOB launched an electronic funds transfer at point-of-sale US$ Bank Drafts system, called NETS. There Sales of US$ Bank Drafts is growing acceptance for were brisk during the year. this service with transaction The service was extended to volumes and values the Raffles City branch in increasing monthly. By December 1986, and during August, seven months after the year, was available at the the launch, a target $25 10 branches which also million transaction value was offered the sale of travellers' As at end 1986, our reached, well ahead of cheques. 883,000 cardholders expectations. conducted 27 million transactions at the 279 Cash-On-Line Service POSB Cash-On-Line teller At the end of 1986,883,000 machines strategically cardholders had convenient located to provide access to their savings convenient service to through the Bank's 279 depositors. Cash-On-Line teller machines strategically located throughout the island. • Savings Schemes Students Savings Save-As-You-Earn (SAYE) The 1986 National School Scheme Savings Campaign was The scheme encourages launched on 7 March 1986 by depositors to save regularly. Dr Lee Boon Yang, Minister Incentive bonuses of 10% of State (Trade & Industry/ and 20% of the interest Home Affairs). The earned for the first twelve campaign message 'Save for and twenty-four month a Rainy Day' was brought to periods are offered to the schools through a series promote regular savings of talks. Publicity materials amongst wage-earners. like stickers and bookmarks also carried the campaign The scheme has enjoyed a message. steady growth since its launch in 1974. • Lucky Draws Passcard Account June and December Lucky The Passcard is a statement- Draws based savings account. It The Bank offered depositors eliminates updating at the a chance to win $2.7 million counters and reduces in cash in its annual lucky transaction time. Passcard draws as incentive to save. account holders enjoy Depositors were eligible to maximum security as the participate in the Draws if cardholder's photograph they saved a minimum of appears on the handy-sized $1,000 in their accounts card. during any of the following qualifying periods: — Combined Cash-On-Line/ For the June and December Passcard Facility Draws: — For greater convenience, the March 5 —April 30, 1986 Bank introduced the For the December Draw: — combined Cash-On-Line and May 5 —July 31, 1986 Passcard in 1981. The August 5 — October 31, combined card has two 1986 magnetic stripes with The June Lucky Account information of the two cards Draw, based on account encoded separately. The numbers, provided a wide combined card enables the distribution of prizes as each POSB promotes savings cardholder to make depositor was allowed to amongst the young transactions at the ATMs as qualify only once. All through its School Savings well as at any of the Bank's depositors, therefore, had an Campaign. manned branches. equal chance to win. There The theme for the 1986 were 14,901 winners in June. National School Savings The December Draw Campaign was 'Save For a offered depositors multiple Rainy Day' — the message chances of winning based on being brought home by a the amount of savings series of talks and maintained in the account. publicity materials. Lucky numbers were issued for every $1,000 saved during any of the three qualifying periods. Both draws were computerised and no ticket numbers were sent to depositors. The Draw was witnessed by the Auditor-General's representative who also checked and verified the system. More than 32,400 prizes were won in the draws.

• Loan Schemes Credit POSB's attractive housing loan schemes and competitive interest rates have helped promote home ownership amongst Singaporeans since 1974 when the company was established. To give added impetus to first-home-owners, Credit POSB offers a lA% interest rebate for the first five years to Singaporeans buying their first private property for owner-occupation. This First-Home-Owner Housing Loan Scheme was introduced in 1985.

Interest Rates At end December 1986, Credit POSB's interest rates were as follows:- Credit POSB Loan Schemes promote home ownership amongst Singaporeans. Singaporeans who purchase their first private property for owner- occupation will enjoy an interest rebate of 0.25%. • Community Relations

The Bank continued to play an active role in various areas of community service.

Sponsorships POSB sponsored community projects in education, the arts and sports. The Bank also sponsored the giraffe, squirrel and marmoset exhibits at the Singapore Zoological Gardens and a series of open air concerts by the Singapore Symphony Orchestra.

Centenary Trust Fund Donations were made to various organisations during the year, including the Community Chest of Singapore. Scholarships and bursaries were awarded to students pursuing tertiary studies at the local and overseas universities, as well as to junior college students and trainees from the Vocational and The Bank plays an active Industrial Training Board. role in community service, with its sponsorship of Exhibitions community projects in POSB participated in the education, the arts and 'Man, Machine & System' sports. The giraffe is one exhibition organised by the of the exhibits in the zoo Ministry of Finance at the sponsored by the Bank. World Trade Centre. Staff demonstrated the benefits of the Bank's telephone banking service, POSBLine, in increasing productivity through its cashless bill payment facility. • Personnel During the period, contests were held and Staff strength decreased by articles published in the 0.5% from 987 to 983 for the Bank's in-house publication period December 1985 to to sustain awareness of the December 1986. Control on campaign. Courtesy was also manpower growth was emphasised in the Bank's exercised and productivity training programmes for improved through training counter officers. and upgrading of skills. Ten outstanding courteous staff were Training awarded certificates of In a continuing effort to commendation. Ten of the upgrade customer service most well-kept branches also and develop human received awards. resources, 444 POSB officers attended courses, In-house Productivity conferences, seminars and Campaign workshops conducted both In support of the National in-house and by various Productivity Campaign, the training organisations in Bank held a series of in- Singapore. house activities and talks to promote productivity and to Most Outstanding Teller re-inforce staff commitment Award towards achieving POSB initiated the 'Most excellence. Work Outstanding Teller Award' Improvement Teams were The Bank introduced the in 1986 to recognise and encouraged to actively think Outstanding Teller Award reward exemplary tellers of ways to streamline work to recognise and reward who uphold the image of the procedures through a system exemplary tellers. Bank with their helpful, of awards and recognition Miss Keh Hwee Kuan from efficient and courteous for their involvement. the Goldhill Centre Branch service. Eight counter tellers was selected for the award, received merit awards. Miss In-house Speak Mandarin which gives recognition for Keh Hwee Kuan from the Campaign her helpful, efficient and Goldhill Centre Branch was Efforts were made to courteous service at the selected for the award by a encourage staff to use counter. committee which assessed Mandarin instead of dialect candidates on their work in their front-line work attitude and performance. during the national campaign month. Hanyu POSB Courtesy Campaign Pinyin classes were also held 1986 to improve the language In conjunction with the capability of staff. National Courtesy Campaign, the Bank organised its annual in-house courtesy campaign. The campaign ran for six- months, from July to The Bank organised the December 1986. POSB Courtesy Campaign in conjunction with the National Courtesy Campaign. Certificates of commendation were awarded to 10 outstanding courteous staff and 10 most well-kept branches. Principal Officers General Manager Mr Bertie Cheng Chief Manager (Property Management) Mr Ng Tee Geok Director (Corporate Services) Mr Wee Tew Lim Director (Asset Management) Mrs Ho Bee Lian Property Manager Mr Loh Ah Soh Chief Accountant Miss Chua Bee Choo Operations Manager Mr Cheah Pin Thong Personnel & Administration Manager Mrs Kwok Moon Moi Internal Auditor Mr Ang Khee Huat Head, Public Relations Mrs Chew-Lim Fee Yee Organisation Structure Senior Manager (POSB Computer Services) Mr Teo Kim Soon Senior Manager (Credit POSB) Mr Ng Kim Soon Financial Statements

Contents Auditor's Report Balance Sheet Income and Expenditure Statement Statement of Changes in Financial Position Notes to the Accounts Report on the Audit of the Accounts of the Post Office Savings Bank of Singapore For the year ended 31 December 1986

The accounts of The Post Office Savings Bank of Singapore have been examined under my direction and in accordance with the provisions of The Post Office Savings Bank of Singapore Act (No. 13 of 1971) and The Post Office Savings Bank of Singapore (Amendment) Act (No. 4 of 1984). I have obtained all the information and explanations I have required.

In my opinion: —

(a) the accompanying accounts show fairly the state of affairs of the Bank at 31 December 1986 and the results and changes in financial position of the Bank for the year ended on that date;

(b) proper accounting and other records have been kept; and

(c) the receipt, expenditure and investment of moneys and the acquisition and disposal of assets by the Bank during the year have been in accordance with the provisions of The Post Office Savings Bank of Singapore Act (No. 13 of 1971) and The Post Office Savings Bank of Singapore (Amendment) Act (No. 4 of 1984).

Chee Keng Soon Auditor General Singapore 9 June 1987 The Post Office Savings Bank of Singapore Balance Sheet As at 31 December 1986

The accompanying notes form part of the accounts.

Chua Kim Yeow Executive Chairman Post Office Savings Bank Singapore 8 June 1987 The Post Office Savings Bank of Singapore Income and Expenditure Statement For the year ended 31 December 1986 The Post Office Savings Bank of Singapore Statement of Changes in Financial Position For the year ended 31 December 1986 Notes to the Accounts 31 December 1986

1.Significant Accounting Policies 1.5 Renovation and Establishment of Branches It is the policy of the Bank not to capitalise expenditure 1.1 Accounting Convention incurred on the renovation and establishment of branches, The Bank's accounts have been prepared under the but to treat it as outright expenditure in the year it was historical cost convention. incurred.

1.2 Investments 2. Principal Activities 1.2.1 Government Securities, Loan Stocks and Shares in Unquoted Corporations are stated at cost. The principal activities of the Bank consist of the 1.2.2 Bonds are stated at the lower of cost and face value. provision of retail banking services and the mobilisation of Recognition of discounts is deferred until redemption or the funds for public development in accordance with The sale. Premiums are however expensed off in the year of Post Office Savings Bank of Singapore Act (No. 13 of purchase. 1971) and The Post Office Savings Bank of Singapore 1.2.3 Quoted shares are stated at the lower of cost and (Amendment) Act (No. 4 of 1984). market value. 1.2.4 Bills of Exchange are stated at face value less 3. General Reserve unearned discounts.

1.3 Term Loans Term Loans are stated net of provisions for possible losses.

1.4 Depreciation of Fixed Assets Fixed Assets are stated at cost less accumulated deprecia­ tion. Depreciation is provided as follows: — 4. Capital Reserve

The Capital Reserve which was created for the purpose of a proposed building project had been transfered back to the General Reserve as the Bank had decided not to proceed with the project.

5. Centenary Trust Fund Where land and building costs cannot be practically segregated, amortisation/depreciation has been provided The Centenary Trust Fund was set up in 1977 and the on both land and building over 50 years, or the lease income derived from the investment of the Fund is used to period, whichever is shorter. provide scholarship and bursary awards to deserving Fully depreciated assets are retained in the accounts students and for other charitable purposes. The Fund was until they are no longer in use. dissolved in March 1987. No depreciation is provided for Work-in-Progress. Notes to the Accounts

6. Fixed Assets

7. Quoted Shares 9. Amounts Owing By Subsidiaries

The cost and market value of quoted shares at 31 Amounts owing by subsidiaries were as follows: December were as follows: —

8. Subsidiary Companies 10. Significant Inter-Company Transactions During the Year Name POSB Investment (Pte) Ltd Place of Incorporation Singapore % of Equity 100 Principal Activity Investment Holding

Subsidiaries of POSB Investment (Pte) Ltd. Name Credit POSB (Pte) Ltd Place of Incorporation Singapore % of Equity 100 Principal Activity Property Financing

Name POSB Computer Services (Pte) Ltd Place of Incorporation Singapore % of Equity 100 Principal Activity Computer Services Notes to the Accounts

11. Commitments 12. Contingent Liabilities

As at 31 December 1986, the Bank's commitments were The Bank had Contingent Liabilities of approximately as follows: — S$16.3 million as at 31 December 1986 (1985 : S$17.3 (a) Outstanding capital commitments contracted but not million) in respect of guarantees given to third parties. provided for in the accounts at the end of the year amounted to approximately S$32 million. (1985 : S$35 13. Comparative Figures million) (b) Outstanding commitment to subscribe for 1 million The comparative figures in the accounts had been ordinary shares of S$l each in Export Credit Insur­ reclassified where appropriate to conform with this year's ance Corporation of Singapore Ltd (ECICS). presentation. (c) Undertaking to extend to ECICS a stand-by line of credit not exceeding S$10 million. Post Office Savings Bank Changes and Trends, 1977 - 1986 Directory of Offices

POSB Main Branch 16. Bukit Batok West 32. Clifford Centre 1. POSB Centre Block 166 Bukit Batok West (Principal Branch) 73 Avenue 8 24 Raffles Place 1st Storey #01-256 #02-18 POSB Centre 17. Bukit Ho Swee Clifford Centre Branches Block 22 Havelock Road 33. Colombo Court 2. Alexandra #01-689 1 Block 136 Alexandra Road 18. Bukit Merah Central #01-01A #01-165 Block 161 Bukit Merah Central Colombo Court 3. Alexandra Village #01-3727/3729 34. Coronation Plaza Block 121 Bukit Merah Lane 19. Bukit Purmei 587 #01-06/08 Block 109 Bukit Purmei Road #02-16 4. Ang Mo Kio Central #01-135 Coronation Shopping Plaza (Principal Branch) 20. Bukit Timah Plaza 35. Crawford Block 713 Ang Mo Kio Avenue 6 1 Jalan Anak Bukit Block 463 Crawford Lane #01-4040 #B2-07 #01-07 5. Ang Mo Kio East Bukit Timah Plaza 36. Dempsey Road Block 452 Ang Mo Kio Avenue 10 21. Cambridge Road 14A Dempsey Road #01-1793 Block 42 Cambridge Road 37. Far East Plaza 6. Ang Mo Kio North #01-0001 14 Block 629 Ang Mo Kio Avenue 4 22. Centrepoint #03-06/07 #01-1018 (Principal Branch) Far East Plaza 7. Ang Mo Kio West 176 38. Fortune Centre Block 226G Ang Mo Kio Avenue 1 #01-27 190 Middle Road #01-687/689 Centrepoint #02-18 Fortune Centre 8. Plaza 23. Chai Chee 400 Balestier Road Block 21 Chai Chee Road 39. General Post Office #01-18/20 #01-436 Fullerton Building Balestier Plaza 24. Changi Airport 40. Geylang 9. Balestier Road Passenger Terminal Building 388 Block 2 Thomson/Balestier Road Basement 2 41. Junction B21-65 #01-641 Block 95 Aljunied Crescent Balestier Hill Shopping Centre 25. Changi Road #01-489/491 398 Changi Road 10. Bedok Central #01-14/15 42. Geylang West (Principal Branch) Castle Court Block 53 Sims Place Block 213 Bedok North Street 1 #01-170 26. Changi Village #01-103 43. Ghim Moh Block 5 Upper Changi Road Bedok Town Centre Block 10 Ghim Moh Road #01-2037 11. Bedok North #01-88 27. Chin Swee Road Block 539A Bedok North Street 3 44. Goldhill Centre 151 Chin Swee Road #01-475 (Principal Branch) #01-17/20 Thomson Road 193-201 12. Bedok South Manhattan House Block 46 Bedok South Avenue 3 Goldhill Shopping Centre #01-264 28. Chun Tin Court 15 Yuk Tong Avenue 45. Henderson Road 13. Boon Lay Block 113 Bukit Merah View (Principal Branch) 29. City House #01-550 (Principal Branch) Block 221 Boon Lay Place 46. Hillview 36 Robinson Road #01-108/112 Block 17 Hillview Avenue #01-00 Boon Lay Shopping Centre #01-1314 City House 14. Brickworks Estate 47. Hougang Central Block 1 Jalan Bukit Merah 30. Clementi Central (Principal Branch) Block 204 Hougang Street 21 #01-4514/4516 #01-99/101 Block 449 Clementi Avenue 3 15. Bukit Batok East #01-243/247 48. Hougang South Block 272 Bukit Batok East 31. Clementi East Block 108 Hougang Avenue 1 Avenue 4 #01-1269 #01-76 Block 352 Clementi Avenue 2 #01-91 Directory of Offices

49. 64. Macpherson 79. Queenstown Block 637 Veerasamy Road (Principal Branch) Commonwealth Avenue #01-123/125 45 Macpherson Road 2nd Storey Hawkers' Centre 50. Jalan Eunos 65. Marine Parade Block 6 Eunos Crescent (Principal Branch) 80. Raffles City #01-2647/2649 Block 83 Marine Parade (Principal Branch) #01-584/586 252 North Bridge Road 51. #02-23 Raffles City Block 4 Seletar Road 66. Marsiling #01-89 Block 18 Marsiling Lane 81. Robinson Road #01-265 (Principal Branch) 52. Jalan Sultan 79 Robinson Road 67. Meridien Centre 50 Jalan Sultan #01-02 100 Orchard Road #01-02 CPF Building Jalan Sultan Centre #02-70 Meridien Shopping Centre 82. Rochor 53. Joo Chiat 68. Mountbatten Block 4 Rochor Road 437 Joo Chiat Road #01-524 Old Kallang Airport Road 54. Joo Chiat Complex 2nd Storey Hawkers' Centre 83. Block 2 Joo Chiat Road 4 Jalan Tampang #01-1137 69. Newton (Drive-in) Off Sembawang Road 20 km Joo Chiat Complex (Principal Branch) 135 Bukit Timah Road 84. Serangoon Garden 55. Jurong (Drive-in) 70. NOL Building (Principal Branch) (Principal Branch) 9 Kensington Park Road 5 Kang Ching Road 456 Alexandra Road #01-00 NOL Building 85. Serangoon North 56. Jurong East Blk 153 Serangoon North 71. North Bridge Road Block 255 Jurong East Street 24 Avenue 1, #01-301 470 North Bridge Road #01-01 Singapore Finance House #01-536 57. Jurong Town 86. Serangoon Road 72. Orchard Towers (Principal Branch) (Principal Branch) 1 Claymore Drive Block 106 Yung Kuang Road 291 Serangoon Road #01-19/21 "#01-07 Orchard Towers Rear Block 87. Shenton Way 58. Jurong West (Principal Branch) 73. Outram Road Block 442 Jurong West Avenue 1 6 Shenton Way 317 Outram Road #01-750 #01-05 #01-51/52/53 DBS Building 59. KakiBukit Glass Hotel Shopping Centre Block 632 88. Siglap 74. Pandan Valley Bedok Reservoir Road (Principal Branch) Block B Pandan Valley #01-824 42 Upper East Coast Road #01-210 60. Kallang Bahru Pandan Valley Condominium 89. Simpang Bedok Block 67 Kallang Bahru Bedok Road 75. Parklane #01-469 #01-314 35 Selegie Road Bedok Shopping Complex 61. Kampong Silat #01-06 Block 146 Jalan Bukit Merah Parklane Shopping Mall 90. Singapore General Hospital #01-1082 Block 4 Outram Road 76. Parkway Parade Wards Building 62. Kent Ridge 80 Marine Parade Road Yusof Ishak House #01-02 Parkway Parade 91. Singapore Polytechnic Kent Ridge Campus Dover Road #SC 207 77. Pearl's Centre #01-104/105 National University of Singapore 100 #01-11 Pearl's Centre Polytechnic Centre 63. King George's Avenue 92. South Bridge Road 78. Peninsula Plaza Block 803 King George's Avenue 76 South Bridge Road #01-234 111 North Bridge Road #01-00 #01-28 Peninsula Plaza 93. Stirling Road Block 163 Stirling Road #01-1238 Directory of Offices

94. Supreme House 109. Toa Payoh Central 123. Yishun West 9 Penang Road (Principal Branch) Block 106 Yishun Ring Road #01-11/12 Block 178 Toa Payoh Central #01-175 Supreme House #01-198/200 124. Zhu Jiao 95. Taman Warna (Drive-in) 110. Toa Payoh East Block 664 Buffalo Road (Principal Branch) Block 20 Toa Payoh Lorong 7 #01-01/02 100 Taman Warna #01-736 Superbanks 96. Tampines East 111. Toa Payoh North 125. Metro Golden Mile Block 201-E Tampines Street 23 Block 107 Toa Payoh Lorong 1 7500D Beach Road #01-102 #01-266 1st Level Metro Golden Mile 97. Tampines South 112. Towner Road The Plaza Block 138 Tampines Street 11 Block 102 Towner Road #01-98/100 #01-244/246/248 126. Metro Grand 304 Orchard Road 98. Tampines Way 113. Treasury Building 5th Storey Block 23 Hougang Avenue 3 (Principal Branch) Lucky Plaza #01-281 8 Shenton Way #B1-01 Treasury Building 127. Metro Orchard 99. Tampines West 25 Scotts Road Block 827 Tampines Street 81 114. Upper Aljunied 4th Storey #01-138 401 Macpherson Road Holiday Inn #01-12 100. Tanglin Halt Great Eastern Hotel 128. Yaohan Orchard Block 39 Tanglin Halt Road 68 Orchard Road #01-119W 115. Upper Pickering Street Basement 2 (Principal Branch) 101. Tanjong Katong Plaza Singapura Block 3 Upper Pickering Street 245 Tanjong Katong Road #01-27 Automated Branches 102. 129. POSB Centre 116. Upper Serangoon Road Block 1 Kee Seng Road (24-Hour) (Principal Branch) #01-26/27 73 Bras Basah Road 760B Upper Serangoon Road Tanjong Pagar Plaza 1st Storey #01-03/02-02 POSB Centre 103. Teban Gardens Upper Serangoon Shopping Blk 54 Teban Gardens Road Centre 130. City House #01-546 36 Robinson Road 117. Upper Thomson Road #01-00 104. East 1 Thong Soon Avenue City House Block 10 Telok Blangah Crescent 118. West Coast Road #01-155 Savings Bank Counters at Post Offices Block 501 West Coast Road 131. Bukit Panjang Post Office 105. Telok Blangah West #01-296 Chua Chu Kang Road 16.5 km Block 81 Telok Blangah Drive 119. Whampoa Drive #01-424 132. Kreta Ayer Post Office Block 102 Whampoa Drive Block 333 106. Thomson Plaza #01-12 #01-17 301 Upper Thomson Road 120. Woodlands Central #01-37 133. Post Office Block 2 Woodlands Town Centre Thomson Plaza Pasir Panjang Road 11.5 km #01-134/136 107. Thomson Road 134. Tanglin Post Office 121. World Trade Centre 246 Upper Thomson Road (Drive-in) 1 Maritime Square 60 Tanglin Road 108. TiongBahru #01-01 Block 28 Tiong Bahru Road World Trade Centre #01-141/147 122. Yishun North As at June 1987 Block 261 Yishun Street 22 #01-137 Subsidiary and Associate Companies

Subsidiary Companies 1. Credit POSB (Pte) Ltd 79 Robinson Road #10-00 CPF Building 2. POSB Computer Services (Pte) Ltd 73 Bras Basah Road #02-00 POSB Centre 3. POSB Investment (Pte) Ltd 73 Bras Basah Road #04-00 POSB Centre Associate Companies 1. The Discount Company of Singapore Ltd c/o United Overseas Bank Treasury Division UOB Building #03-00 1 Bonham Street 2. Marina Centre Holdings (Pte) Ltd 6 Raffles Boulevard #01-400 Marina Square 3. Network for Electronic Transfers Singapore (Pte) Ltd 10 Shenton Way #11-06 MAS Building 4. SAL Leasing (Pte) Ltd 3 Lim Teck Kim Road #10-01 STC Building Post Office Savings Bank POSB Centre 73 Bras Basah Road Singapore 0718 Designe d & Produce b y Desig n Objective s Pt e Lt Printe VIV A