18th Mar 2016 16:28
Asia
Our principal banking subsidiaries in Hong Kong are The Hongkong and Shanghai Banking Corporation Limited and Hang Seng Bank Limited. The former is the largest bank incorporated in Hong Kong and is our flagship bank in Asia. We offer a wide range of banking and financial services in mainland China through our local subsidiaries, HSBC Bank (China) Company Limited and Hang Seng Bank (China) Limited. We also participate indirectly in mainland China through our associate, Bank of Communications Co., Ltd. Outside Hong Kong and mainland China in Asia, we conduct business in 18 countries and territories, with particularly strong coverage in Australia, India, Indonesia, Malaysia, Singapore and Taiwan.
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2015 | 2014 |
| 2013 | |||
$m | $m |
| $m | |||
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Net interest income | 12,184 | 12,273 | 11,432 | |||
Net fee income | 6,032 | 5,910 | 5,936 | |||
Net trading income | 3,090 | 2,622 | 2,026 | |||
Other income | 3,997 | 2,872 | 5,038 | |||
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Net operating income1 | 25,303 | 23,677 | 24,432 | |||
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LICs34 | (693) | (647) | (498) | |||
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Net operating income | 24,610 | 23,030 | 23,934 | |||
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Total operating expenses | (10,889) | (10,427) | (9,936) | |||
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Operating profit | 13,721 | 12,603 | 13,998 | |||
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Income from associates35 | 2,042 | 2,022 | 1,855 | |||
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Profit before tax | 15,763 | 14,625 | 15,853 | |||
Cost efficiency ratio | 43.0% | 44.0% | 40.7% | |||
RoRWA24 | 3.3% | 3.1% | 3.8% | |||
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Year-end staff numbers | 120,144 | 118,322 | 113,701 | |||
For footnotes, see page 99.
Country view of adjusted revenue
2015 | 2014 | |||
$m | $m | |||
Hong Kong | 14,233 | 13,729 | ||
Australia | 847 | 814 | ||
India | 1,845 | 1,738 | ||
Indonesia | 536 | 497 | ||
Mainland China | 2,606 | 2,429 | ||
Malaysia | 984 | 899 | ||
Singapore | 1,288 | 1,234 | ||
Taiwan | 417 | 469 | ||
Other | 1,116 | 1,140 | ||
Year ended 31 December | 23,872 | 22,949 |
Profit before tax ($m)
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Revenue ($m)
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Operating expenses ($m)
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For details of significant items, see page 77.
Profit/(loss) before tax by country within global businesses
Retail Banking and Wealth Management $m |
| Commercial Banking$m |
| Global Banking and Markets $m |
| Global PrivateBanking$m |
| Other$m |
| Total$m | ||
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Hong Kong | 3,799 |
| 2,384 |
| 2,119 |
| 177 |
| 1,327 |
| 9,806 | |
Australia | 61 |
| 79 |
| 238 |
| − |
| (5) |
| 373 | |
India | (25) |
| 97 |
| 379 |
| 14 |
| 141 |
| 606 | |
Indonesia | (6) |
| (112) |
| 80 |
| − |
| 31 |
| (7) | |
Mainland China | 297 |
| 1,569 |
| 1,062 |
| (3) |
| 135 |
| 3,060 | |
Malaysia | 119 |
| 95 |
| 215 |
| − |
| 13 |
| 442 | |
Singapore | 80 |
| 122 |
| 259 |
| 65 |
| (19) |
| 507 | |
Taiwan | 11 |
| 24 |
| 133 |
| − |
| (13) |
| 155 | |
Other | 50 |
| 250 |
| 449 |
| (1) |
| 73 |
| 821 | |
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Year ended 31 December 2015 | 4,386 |
| 4,508 |
| 4,934 |
| 252 |
| 1,683 |
| 15,763 | |
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Hong Kong | 3,727 | 2,264 | 1,807 | 146 | 198 | 8,142 | ||||||
Australia | 78 | 126 | 232 | − | (4) | 432 | ||||||
India | 4 | 121 | 442 | 11 | 122 | 700 | ||||||
Indonesia | 10 | 53 | 110 | − | 25 | 198 | ||||||
Mainland China | 292 | 1,533 | 954 | (3) | 175 | 2,951 | ||||||
Malaysia | 156 | 122 | 190 | − | 28 | 496 | ||||||
Singapore | 129 | 168 | 243 | 57 | (8) | 589 | ||||||
Taiwan | 19 | 35 | 166 | − | 1 | 221 | ||||||
Other | 57 | 320 | 432 | − | 87 | 896 | ||||||
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Year ended 31 December 2014 | 4,472 | 4,742 | 4,576 | 211 | 624 | 14,625 | ||||||
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Hong Kong | 3,742 |
| 2,110 |
| 1,971 |
| 208 |
| 58 |
| 8,089 | |
Australia | 100 |
| 131 |
| 189 |
| − |
| 26 |
| 446 | |
India | (21) |
| 113 |
| 418 |
| 7 |
| 136 |
| 653 | |
Indonesia | 12 |
| 106 |
| 126 |
| − |
| 36 |
| 280 | |
Mainland China | 223 |
| 1,536 |
| 842 |
| (4) |
| 1,644 |
| 4,241 | |
Malaysia | 148 |
| 105 |
| 236 |
| − |
| 25 |
| 514 | |
Singapore | 147 |
| 120 |
| 262 |
| 74 |
| 22 |
| 625 | |
Taiwan | 7 |
| 30 |
| 158 |
| − |
| 5 |
| 200 | |
Other | 61 |
| 207 |
| 473 |
| (1) |
| 65 |
| 805 | |
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Year ended 31 December 2013 | 4,419 |
| 4,458 |
| 4,675 |
| 284 |
| 2,017 |
| 15,853 |
Analysis of mainland China profit/(loss) before tax
Retail Banking and Wealth Management $m |
| Commercial Banking $m |
| GlobalBanking and Markets $m |
| Global PrivateBanking$m |
| Other$m |
| Total$m | ||
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BoCom and other associates | 260 |
| 1,448 |
| 301 |
| − |
| − |
| 2,009 | |
Mainland China operations | 37 |
| 121 |
| 761 |
| (3) |
| 135 |
| 1,051 | |
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Year ended 31 December 2015 | 297 |
| 1,569 |
| 1,062 |
| (3) |
| 135 |
| 3,060 | |
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BoCom and other associates | 255 |
| 1,421 |
| 296 |
| - |
| 1 |
| 1,973 | |
Mainland China operations | 37 |
| 112 |
| 658 |
| (3) |
| 174 |
| 978 | |
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Year ended 31 December 2014 | 292 |
| 1,533 |
| 954 |
| (3) |
| 175 |
| 2,951 | |
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BoCom and other associates | 247 |
| 1,360 |
| 284 |
| - |
| (38) |
| 1,853 | |
Mainland China operations | (24) |
| 176 |
| 558 |
| (4) |
| 40 |
| 746 | |
Industrial Bank | - |
| - |
| - |
| - |
| 1,089 |
| 1,089 | |
Ping An | - |
| - |
| - |
| - |
| 553 |
| 553 | |
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Year ended 31 December 2013 | 223 |
| 1,536 |
| 842 |
| (4) |
| 1,644 |
| 4,241 |
Related Shares:
HSBC Holdings