30th Mar 2010 16:59
Profit/(loss) for the year
|
|
Year ended 31 December 2009 |
||||||||||||||
|
|
Europe |
|
Hong Kong |
|
Rest of Asia- Pacific1 |
|
Middle East1 |
|
North America |
|
Latin America |
|
Intra- HSBC Items |
|
Total |
|
|
US$m |
|
US$m |
|
US$m
|
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income ...................... |
20,283 |
|
5,327 |
|
5,877 |
|
2,260 |
|
19,526 |
|
10,091 |
|
(1,268) |
|
62,096 |
|
Interest expense ..................... |
(8,015) |
|
(1,132) |
|
(2,338) |
|
(775) |
|
(5,856) |
|
(4,518) |
|
1,268 |
|
(21,366) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income ............... |
12,268 |
|
4,195 |
|
3,539 |
|
1,485 |
|
13,670 |
|
5,573 |
|
- |
|
40,730 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fee income ............................ |
8,576 |
|
3,099 |
|
1,972 |
|
682 |
|
5,496 |
|
2,230 |
|
(652) |
|
21,403 |
|
Fee expense ........................... |
(2,309) |
|
(430) |
|
(415) |
|
(57) |
|
(679) |
|
(501) |
|
652 |
|
(3,739) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net fee income ...................... |
6,267 |
|
2,669 |
|
1,557 |
|
625 |
|
4,817 |
|
1,729 |
|
- |
|
17,664 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading income excluding net interest income ........... |
2,861 |
|
1,068 |
|
1,264 |
|
369 |
|
35 |
|
639 |
|
- |
|
6,236 |
|
Net interest income on trading activities ............ |
2,598 |
|
157 |
|
342 |
|
25 |
|
296 |
|
209 |
|
- |
|
3,627 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net trading income ................ |
5,459 |
|
1,225 |
|
1,606 |
|
394 |
|
331 |
|
848 |
|
- |
|
9,863 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in fair value of long- term debt issued and related derivatives .......................... |
(2,746) |
|
(3) |
|
(1) |
|
- |
|
(3,497) |
|
- |
|
- |
|
(6,247) |
|
Net income from other financial instruments designated at fair value ....... |
1,321 |
|
788 |
|
111 |
|
- |
|
1 |
|
495 |
|
- |
|
2,716 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income from financial instruments designated at fair value ............................ |
(1,425) |
|
785 |
|
110 |
|
- |
|
(3,496) |
|
495 |
|
- |
|
(3,531) |
|
Gains less losses from financial investments ........................ |
50 |
|
9 |
|
(19) |
|
16 |
|
296 |
|
168 |
|
- |
|
520 |
|
Dividend income .................... |
29 |
|
28 |
|
2 |
|
3 |
|
53 |
|
11 |
|
- |
|
126 |
|
Net earned insurance premiums ........................................... |
4,223 |
|
3,674 |
|
365 |
|
- |
|
309 |
|
1,900 |
|
- |
|
10,471 |
|
Other operating income ......... |
2,262 |
|
1,274 |
|
1,238 |
|
71 |
|
566 |
|
133 |
|
(2,756) |
|
2,788 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating income ...... |
29,133 |
|
13,859 |
|
8,398 |
|
2,594 |
|
16,546 |
|
10,857 |
|
(2,756) |
|
78,631 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net insurance claims incurred and movement in liabilities to policyholders ................. |
(5,589) |
|
(4,392) |
|
(395) |
|
- |
|
(241) |
|
(1,833) |
|
- |
|
(12,450) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income before loan impairment charges and other credit risk provisions ......................... |
23,544 |
|
9,467 |
|
8,003 |
|
2,594 |
|
16,305 |
|
9,024 |
|
(2,756) |
|
66,181 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loan impairment charges and other credit risk provisions . |
(5,568) |
|
(500) |
|
(896) |
|
(1,334) |
|
(15,664) |
|
(2,526) |
|
- |
|
(26,488) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income ......... |
17,976 |
|
8,967 |
|
7,107 |
|
1,260 |
|
641 |
|
6,498 |
|
(2,756) |
|
39,693 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Employee compensation and benefits ............................. |
(7,174) |
|
(2,102) |
|
(2,363) |
|
(545) |
|
(4,085) |
|
(2,199) |
|
- |
|
(18,468) |
|
General and administrative expenses ............................. |
(5,775) |
|
(1,502) |
|
(1,872) |
|
(419) |
|
(3,794) |
|
(2,786) |
|
2,756 |
|
(13,392) |
|
Depreciation and impairment of property, plant and equipment |
(762) |
|
(224) |
|
(172) |
|
(31) |
|
(329) |
|
(207) |
|
- |
|
(1,725) |
|
Amortisation and impairment of intangible assets ............. |
(277) |
|
(118) |
|
(43) |
|
(6) |
|
(183) |
|
(183) |
|
- |
|
(810) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating expenses ... |
(13,988) |
|
(3,946) |
|
(4,450) |
|
(1,001) |
|
(8,391) |
|
(5,375) |
|
2,756 |
|
(34,395) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit/(loss) ....... |
3,988 |
|
5,021 |
|
2,657 |
|
259 |
|
(7,750) |
|
1,123 |
|
- |
|
5,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of profit in associates and joint ventures ............... |
21 |
|
8 |
|
1,543 |
|
196 |
|
12 |
|
1 |
|
- |
|
1,781 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) before tax ....... |
4,009 |
|
5,029 |
|
4,200 |
|
455 |
|
(7,738) |
|
1,124 |
|
- |
|
7,079 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax income/(expense) ........... |
(776) |
|
(869) |
|
(753) |
|
(94) |
|
2,285 |
|
(178) |
|
- |
|
(385) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) for the year .... |
3,233 |
|
4,160 |
|
3,447 |
|
361 |
|
(5,453) |
|
946 |
|
- |
|
6,694 |
Profit/(loss) for the year (continued)
|
|
Year ended 31 December 2008 |
||||||||||||||
|
|
Europe |
|
Hong Kong |
|
Rest of Asia- Pacific1 |
|
Middle East1 |
|
North America |
|
Latin America |
|
Intra- HSBC items |
|
Total |
|
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income ...................... |
35,117 |
|
9,530 |
|
9,066 |
|
2,451 |
|
25,897 |
|
11,632 |
|
(2,392) |
|
91,301 |
|
Interest expense ..................... |
(25,421) |
|
(3,832) |
|
(5,129) |
|
(895) |
|
(10,679) |
|
(5,174) |
|
2,392 |
|
(48,738) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income ............... |
9,696 |
|
5,698 |
|
3,937 |
|
1,556 |
|
15,218 |
|
6,458 |
|
- |
|
42,563 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fee income ............................ |
10,225 |
|
3,062 |
|
2,414 |
|
740 |
|
6,292 |
|
2,716 |
|
(685) |
|
24,764 |
|
Fee expense ........................... |
(2,733) |
|
(482) |
|
(547) |
|
(49) |
|
(1,065) |
|
(549) |
|
685 |
|
(4,740) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net fee income ...................... |
7,492 |
|
2,580 |
|
1,867 |
|
691 |
|
5,227 |
|
2,167 |
|
- |
|
20,024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading income/(expense) excluding net interest income ........................................... |
1,691 |
|
856 |
|
1,443 |
|
380 |
|
(3,879) |
|
356 |
|
- |
|
847 |
|
Net interest income on trading activities ............ |
3,666 |
|
337 |
|
599 |
|
22 |
|
744 |
|
345 |
|
- |
|
5,713 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net trading income/(expense) |
5,357 |
|
1,193 |
|
2,042 |
|
402 |
|
(3,135) |
|
701 |
|
- |
|
6,560 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in fair value of long- term debt issued and related derivatives .......................... |
2,939 |
|
3 |
|
1 |
|
- |
|
3,736 |
|
- |
|
- |
|
6,679 |
|
Net income/(expense) from other financial instruments designated at fair value ....... |
(1,826) |
|
(1,194) |
|
(172) |
|
- |
|
1 |
|
364 |
|
- |
|
(2,827) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income/(expense) from financial instruments designated at fair value ....... |
1,113 |
|
(1,191) |
|
(171) |
|
- |
|
3,737 |
|
364 |
|
- |
|
3,852 |
|
Gains less losses from financial investments ........................ |
418 |
|
(309) |
|
24 |
|
8 |
|
(120) |
|
176 |
|
- |
|
197 |
|
Dividend income .................... |
130 |
|
41 |
|
2 |
|
2 |
|
77 |
|
20 |
|
- |
|
272 |
|
Net earned insurance premiums ........................................... |
5,299 |
|
3,247 |
|
197 |
|
- |
|
390 |
|
1,717 |
|
- |
|
10,850 |
|
Gains on disposal of French regional banks .................... |
2,445 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
2,445 |
|
Other operating income ......... |
2,096 |
|
817 |
|
1,055 |
|
9 |
|
23 |
|
300 |
|
(2,492) |
|
1,808 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating income ......... |
34,046 |
|
12,076 |
|
8,953 |
|
2,668 |
|
21,417 |
|
11,903 |
|
(2,492) |
|
88,571 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net insurance claims incurred and movement in liabilities to policyholders ................. |
(3,367) |
|
(1,922) |
|
28 |
|
- |
|
(238) |
|
(1,390) |
|
- |
|
(6,889) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income before loan impairment charges and other credit risk provisions |
30,679 |
|
10,154 |
|
8,981 |
|
2,668 |
|
21,179 |
|
10,513 |
|
(2,492) |
|
81,682 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loan impairment charges and other credit risk provisions . |
(3,754) |
|
(765) |
|
(852) |
|
(279) |
|
(16,795) |
|
(2,492) |
|
- |
|
(24,937) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income ............ |
26,925 |
|
9,389 |
|
8,129 |
|
2,389 |
|
4,384 |
|
8,021 |
|
(2,492) |
|
56,745 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Employee compensation and benefits .............................. |
(8,551) |
|
(2,069) |
|
(2,475) |
|
(544) |
|
(4,609) |
|
(2,544) |
|
- |
|
(20,792) |
|
General and administrative expenses ............................. |
(6,428) |
|
(1,562) |
|
(2,037) |
|
(384) |
|
(4,282) |
|
(3,059) |
|
2,492 |
|
(15,260) |
|
Depreciation and impairment of property, plant and equipment |
(865) |
|
(209) |
|
(163) |
|
(25) |
|
(265) |
|
(223) |
|
- |
|
(1,750) |
|
Amortisation and impairment of intangible assets ............. |
(228) |
|
(103) |
|
(29) |
|
(6) |
|
(203) |
|
(164) |
|
- |
|
(733) |
|
Goodwill impairment .............. |
- |
|
- |
|
- |
|
- |
|
(10,564) |
|
- |
|
- |
|
(10,564) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating expenses ....... |
(16,072) |
|
(3,943) |
|
(4,704) |
|
(959) |
|
(19,923) |
|
(5,990) |
|
2,492 |
|
(49,099) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit/(loss) ........... |
10,853 |
|
5,446 |
|
3,425 |
|
1,430 |
|
(15,539) |
|
2,031 |
|
- |
|
7,646 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of profit in associates and joint ventures ............... |
16 |
|
15 |
|
1,297 |
|
316 |
|
11 |
|
6 |
|
- |
|
1,661 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) before tax ........... |
10,869 |
|
5,461 |
|
4,722 |
|
1,746 |
|
(15,528) |
|
2,037 |
|
- |
|
9,307 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax income/(expense) ........... |
(2,199) |
|
(899) |
|
(928) |
|
(245) |
|
1,715 |
|
(253) |
|
- |
|
(2,809) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) for the year ........ |
8,670 |
|
4,562 |
|
3,794 |
|
1,501 |
|
(13,813) |
|
1,784 |
|
- |
|
6,498 |
|
|
Year ended 31 December 2007 |
||||||||||||||
|
|
Europe |
|
Hong Kong |
|
Rest of Asia- Pacific1 |
|
Middle East1 |
|
North America |
|
Latin America |
|
Intra- HSBC items |
|
Total |
|
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income ...................... |
33,144 |
|
12,580 |
|
8,002 |
|
2,156 |
|
30,183 |
|
9,471 |
|
(3,177) |
|
92,359 |
|
Interest expense ..................... |
(25,398) |
|
(7,097) |
|
(4,953) |
|
(1,062) |
|
(15,336) |
|
(3,895) |
|
3,177 |
|
(54,564) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income ............... |
7,746 |
|
5,483 |
|
3,049 |
|
1,094 |
|
14,847 |
|
5,576 |
|
- |
|
37,795 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fee income ............................ |
10,973 |
|
3,860 |
|
2,201 |
|
508 |
|
6,733 |
|
2,647 |
|
(585) |
|
26,337 |
|
Fee expense ........................... |
(2,542) |
|
(498) |
|
(426) |
|
(37) |
|
(923) |
|
(494) |
|
585 |
|
(4,335) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net fee income ...................... |
8,431 |
|
3,362 |
|
1,775 |
|
471 |
|
5,810 |
|
2,153 |
|
- |
|
22,002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading income/(expense) excluding net interest income ........................................... |
3,003 |
|
1,270 |
|
946 |
|
256 |
|
(1,289) |
|
272 |
|
- |
|
4,458 |
|
Net interest income/(expense) on trading activities ............ |
3,940 |
|
(28) |
|
400 |
|
41 |
|
747 |
|
276 |
|
- |
|
5,376 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net trading income/(expense) |
6,943 |
|
1,242 |
|
1,346 |
|
297 |
|
(542) |
|
548 |
|
- |
|
9,834 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in fair value of long- term debt issued and related derivatives .......................... |
1,059 |
|
2 |
|
1 |
|
- |
|
1,750 |
|
- |
|
- |
|
2,812 |
|
Net income from other financial instruments designated at fair value ....... |
167 |
|
674 |
|
110 |
|
- |
|
- |
|
320 |
|
- |
|
1,271 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income from financial instruments designated at fair value ............................ |
1,226 |
|
676 |
|
111 |
|
- |
|
1,750 |
|
320 |
|
- |
|
4,083 |
|
Gains less losses from financial investments ........................ |
1,326 |
|
94 |
|
36 |
|
2 |
|
245 |
|
253 |
|
- |
|
1,956 |
|
Gains arising from dilution of interests in associates ......... |
- |
|
- |
|
1,081 |
|
- |
|
- |
|
11 |
|
- |
|
1,092 |
|
Dividend income .................... |
171 |
|
31 |
|
6 |
|
2 |
|
105 |
|
9 |
|
- |
|
324 |
|
Net earned insurance premiums ........................................... |
4,010 |
|
2,797 |
|
226 |
|
- |
|
449 |
|
1,594 |
|
- |
|
9,076 |
|
Other operating income ......... |
1,193 |
|
845 |
|
781 |
|
17 |
|
360 |
|
228 |
|
(1,985) |
|
1,439 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating income ......... |
31,046 |
|
14,530 |
|
8,411 |
|
1,883 |
|
23,024 |
|
10,692 |
|
(1,985) |
|
87,601 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net insurance claims incurred and movement in liabilities to policyholders ................. |
(3,479) |
|
(3,208) |
|
(253) |
|
- |
|
(241) |
|
(1,427) |
|
- |
|
(8,608) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income before loan impairment charges and other credit risk provisions |
27,567 |
|
11,322 |
|
8,158 |
|
1,883 |
|
22,783 |
|
9,265 |
|
(1,985) |
|
78,993 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loan impairment charges and other credit risk provisions . |
(2,542) |
|
(231) |
|
(561) |
|
(55) |
|
(12,156) |
|
(1,697) |
|
- |
|
(17,242) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income ............ |
25,025 |
|
11,091 |
|
7,597 |
|
1,828 |
|
10,627 |
|
7,568 |
|
(1,985) |
|
61,751 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Employee compensation and benefits .............................. |
(9,022) |
|
(2,124) |
|
(2,084) |
|
(447) |
|
(5,384) |
|
(2,273) |
|
- |
|
(21,334) |
|
General and administrative expenses ............................. |
(6,429) |
|
(1,386) |
|
(1,741) |
|
(300) |
|
(4,653) |
|
(2,770) |
|
1,985 |
|
(15,294) |
|
Depreciation and impairment of property, plant and equipment |
(848) |
|
(180) |
|
(139) |
|
(20) |
|
(317) |
|
(210) |
|
- |
|
(1,714) |
|
Amortisation and impairment of intangible assets ............. |
(226) |
|
(90) |
|
(27) |
|
(6) |
|
(202) |
|
(149) |
|
- |
|
(700) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating expenses ....... |
(16,525) |
|
(3,780) |
|
(3,991) |
|
(773) |
|
(10,556) |
|
(5,402) |
|
1,985 |
|
(39,042) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit ..................... |
8,500 |
|
7,311 |
|
3,606 |
|
1,055 |
|
71 |
|
2,166 |
|
- |
|
22,709 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of profit in associates and joint ventures ............... |
95 |
|
28 |
|
1,096 |
|
252 |
|
20 |
|
12 |
|
- |
|
1,503 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax .................... |
8,595 |
|
7,339 |
|
4,702 |
|
1,307 |
|
91 |
|
2,178 |
|
- |
|
24,212 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax income/(expense) ........... |
(1,505) |
|
(1,206) |
|
(721) |
|
(178) |
|
332 |
|
(479) |
|
- |
|
(3,757) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year ................. |
7,090 |
|
6,133 |
|
3,981 |
|
1,129 |
|
423 |
|
1,699 |
|
- |
|
20,455 |
For footnote, see page 417.
Other information about the profit/(loss) for the year
|
|
Europe |
|
Hong Kong |
|
Rest of Asia- Pacific1 |
|
Middle East1 |
|
North America |
|
Latin America |
|
Intra- HSBC items |
|
Total |
|
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
Year ended 31 December 2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income............. |
17,976 |
|
8,967 |
|
7,107 |
|
1,260 |
|
641 |
|
6,498 |
|
(2,756) |
|
39,693 |
|
External ............................. |
16,734 |
|
8,352 |
|
6,056 |
|
1,283 |
|
767 |
|
6,501 |
|
- |
|
39,693 |
|
Inter-segment ..................... |
1,242 |
|
615 |
|
1,051 |
|
(23) |
|
(126) |
|
(3) |
|
(2,756) |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) for the year includes the following significant non-cash items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation, amortisation and impairment .............. |
1,039 |
|
342 |
|
215 |
|
37 |
|
515 |
|
390 |
|
- |
|
2,538 |
|
Loan impairment losses gross of recoveries and other credit risk provisions ...... |
5,833 |
|
534 |
|
1,028 |
|
1,361 |
|
15,757 |
|
2,865 |
|
- |
|
27,378 |
|
Impairment of financial investments .................... |
137 |
|
129 |
|
50 |
|
4 |
|
38 |
|
- |
|
- |
|
358 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended 31 December 2008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income............. |
26,925 |
|
9,389 |
|
8,129 |
|
2,389 |
|
4,384 |
|
8,021 |
|
(2,492) |
|
56,745 |
|
External ............................. |
25,887 |
|
8,205 |
|
7,010 |
|
2,386 |
|
5,236 |
|
8,021 |
|
- |
|
56,745 |
|
Inter-segment ..................... |
1,038 |
|
1,184 |
|
1,119 |
|
3 |
|
(852) |
|
- |
|
(2,492) |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) for the year includes the following significant non-cash items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation, amortisation and impairment .............. |
1,093 |
|
312 |
|
192 |
|
31 |
|
11,352 |
|
387 |
|
- |
|
13,367 |
|
Loan impairment losses gross of recoveries and other credit risk provisions ...... |
4,050 |
|
803 |
|
960 |
|
309 |
|
16,892 |
|
2,757 |
|
- |
|
25,771 |
|
Impairment of financial investments .................... |
278 |
|
535 |
|
- |
|
- |
|
229 |
|
- |
|
- |
|
1,042 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended 31 December 2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income ............ |
25,025 |
|
11,091 |
|
7,599 |
|
1,826 |
|
10,627 |
|
7,568 |
|
(1,985) |
|
61,751 |
|
External ............................. |
23,772 |
|
10,168 |
|
6,620 |
|
1,836 |
|
11,784 |
|
7,571 |
|
- |
|
61,751 |
|
Inter-segment ..................... |
1,253 |
|
923 |
|
979 |
|
(10) |
|
(1,157) |
|
(3) |
|
(1,985) |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year includes the following significant non-cash items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation, amortisation and impairment .............. |
1,074 |
|
270 |
|
166 |
|
26 |
|
627 |
|
359 |
|
- |
|
2,522 |
|
Loan impairment losses gross of recoveries and other credit risk provisions ...... |
3,085 |
|
273 |
|
656 |
|
83 |
|
12,218 |
|
1,932 |
|
- |
|
18,247 |
|
Impairment of financial investments .................... |
42 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
42 |
For footnote, see page 417.
Performance ratios
|
|
Europe |
|
Hong Kong |
|
Rest of Asia- Pacific1 |
|
Middle East1 |
|
North America |
|
Latin America |
|
|
|
Total |
|
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
|
|
US$m |
|
Year ended 31 December 2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of HSBC's profit before tax ..................................... |
56.7 |
|
71.0 |
|
59.3 |
|
6.4 |
|
(109.3) |
|
15.9 |
|
|
|
100.0 |
|
Cost efficiency ratio .............. |
59.4 |
|
41.7 |
|
55.6 |
|
38.6 |
|
51.5 |
|
59.6 |
|
|
|
52.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended 31 December 2008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of HSBC's profit before tax ..................................... |
116.7 |
|
58.7 |
|
50.7 |
|
18.8 |
|
(166.8) |
|
21.9 |
|
|
|
100.0 |
|
Cost efficiency ratio .............. |
52.4 |
|
38.8 |
|
52.4 |
|
35.9 |
|
94.1 |
|
57.0 |
|
|
|
60.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended 31 December 2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of HSBC's profit before tax ..................................... |
35.5 |
|
30.3 |
|
19.4 |
|
5.4 |
|
0.4 |
|
9.0 |
|
|
|
100.0 |
|
Cost efficiency ratio .............. |
59.9 |
|
33.4 |
|
48.9 |
|
41.1 |
|
46.3 |
|
58.3 |
|
|
|
49.4 |
1 For footnote, see below.
Balance sheet information
|
|
Europe |
|
Hong Kong |
|
Rest of Asia- Pacific1 |
|
Middle East1 |
|
North America |
|
Latin America |
|
Intra- HSBC items |
|
Total |
|
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
At 31 December 2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and advances to customers (net) .................. |
439,481 |
|
99,381 |
|
80,043 |
|
22,844 |
|
206,853 |
|
47,629 |
|
- |
|
896,231 |
|
Interests in associates and joint ventures ..................... |
147 |
|
157 |
|
11,083 |
|
1,573 |
|
42 |
|
9 |
|
- |
|
13,011 |
|
Total assets ............................ |
1,268,600 |
|
399,243 |
|
222,139 |
|
48,107 |
|
475,014 |
|
115,967 |
|
(164,618) |
|
2,364,452 |
|
Customer accounts ................. |
495,019 |
|
275,441 |
|
133,999 |
|
32,529 |
|
149,157 |
|
72,889 |
|
- |
|
1,159,034 |
|
Total liabilities ....................... |
1,213,907 |
|
384,912 |
|
203,243 |
|
42,325 |
|
447,530 |
|
101,492 |
|
(164,618) |
|
2,228,791 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditure incurred2 . |
983 |
|
290 |
|
159 |
|
102 |
|
658 |
|
540 |
|
- |
|
2,732 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 31 December 2008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and advances to customers (net) .................. |
426,191 |
|
100,220 |
|
80,661 |
|
27,295 |
|
256,214 |
|
42,287 |
|
- |
|
932,868 |
|
Interests in associates and joint ventures ..................... |
137 |
|
153 |
|
9,728 |
|
1,383 |
|
128 |
|
8 |
|
- |
|
11,537 |
|
Total assets ............................ |
1,392,049 |
|
414,484 |
|
225,573 |
|
50,952 |
|
596,302 |
|
102,946 |
|
(254,841) |
|
2,527,465 |
|
Customer accounts ................. |
502,476 |
|
250,517 |
|
124,194 |
|
35,165 |
|
143,532 |
|
59,443 |
|
- |
|
1,115,327 |
|
Total liabilities ....................... |
1,361,960 |
|
400,637 |
|
210,478 |
|
45,416 |
|
571,657 |
|
91,929 |
|
(254,841) |
|
2,427,236 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditure incurred2 . |
2,078 |
|
440 |
|
426 |
|
85 |
|
726 |
|
617 |
|
- |
|
4,372 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 31 December 2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and advances to customers (net) .................. |
452,275 |
|
89,638 |
|
80,245 |
|
21,607 |
|
289,860 |
|
47,923 |
|
- |
|
981,548 |
|
Interests in associates and joint ventures ..................... |
158 |
|
155 |
|
8,602 |
|
1,265 |
|
127 |
|
77 |
|
- |
|
10,384 |
|
Total assets ............................ |
1,256,220 |
|
359,386 |
|
208,195 |
|
45,669 |
|
574,318 |
|
102,649 |
|
(192,171) |
|
2,354,266 |
|
Customer accounts ................. |
504,954 |
|
234,488 |
|
119,296 |
|
30,937 |
|
145,173 |
|
61,292 |
|
- |
|
1,096,140 |
|
Total liabilities ....................... |
1,198,413 |
|
344,011 |
|
194,675 |
|
41,576 |
|
542,549 |
|
89,797 |
|
(192,171) |
|
2,218,850 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditure incurred2 . |
1,722 |
|
441 |
|
239 |
|
38 |
|
833 |
|
599 |
|
- |
|
3,872 |
1 The Middle East is disclosed as a separate geographical region with effect from 1 January 2009. Previously, it formed part of Rest of Asia-Pacific. Comparative data have been restated accordingly.
2 Expenditure incurred on property, plant and equipment and other intangible assets. Excludes assets acquired as part of business combinations and goodwill.
Other financial information
Net operating income by customer group and global business
|
|
Personal Financial Services |
Commercial Banking |
Global Banking & Markets |
|
Private Banking |
|
Other1 |
|
Intra- HSBC items |
|
Total |
||
|
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended 31 December 2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income ............ |
15,513 |
|
9,571 |
|
18,652 |
|
2,984 |
|
(2,031) |
|
(4,996) |
|
39,693 |
|
External ............................. |
13,804 |
|
9,285 |
|
21,383 |
|
2,275 |
|
(7,054) |
|
- |
|
39,693 |
|
Inter-segment ..................... |
1,709 |
|
286 |
|
(2,731) |
|
709 |
|
5,023 |
|
(4,996) |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended 31 December 2008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income ............ |
20,269 |
|
13,144 |
|
12,047 |
|
3,563 |
|
12,290 |
|
(4,568) |
|
56,745 |
|
External ............................. |
15,023 |
|
13,080 |
|
17,739 |
|
2,231 |
|
8,672 |
|
- |
|
56,745 |
|
Inter-segment ..................... |
5,246 |
|
64 |
|
(5,692) |
|
1,332 |
|
3,618 |
|
(4,568) |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended 31 December 2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income ............ |
27,067 |
|
12,943 |
|
15,172 |
|
3,534 |
|
6,947 |
|
(3,912) |
|
61,751 |
|
External ............................. |
21,059 |
|
11,442 |
|
23,595 |
|
2,144 |
|
3,511 |
|
- |
|
61,751 |
|
Inter-segment ..................... |
6,008 |
|
1,501 |
|
(8,423) |
|
1,390 |
|
3,436 |
|
(3,912) |
|
- |
1 The main items reported in the 'Other' segment are certain property activities, unallocated investment activities, centrally held investment companies and HSBC's holding company and financing operations. The 'Other' segment also includes gains and losses on the disposal of certain significant subsidiaries or business units.
Information by country
|
|
2009 |
|
2008 |
|
2007 |
||||||
|
|
External net operating income1 |
|
Non- current assets2 |
|
External net operating income1 |
|
Non- current assets2 |
|
External net operating income1 |
|
Non- current assets2 |
|
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
US$m |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UK .............................................................. |
9,958 |
|
19,704 |
|
15,789 |
|
12,491 |
|
15,955 |
|
12,394 |
|
Hong Kong .................................................. |
8,352 |
|
3,374 |
|
8,205 |
|
3,527 |
|
10,168 |
|
3,226 |
|
USA ............................................................ |
(1,042) |
|
5,499 |
|
2,862 |
|
4,660 |
|
9,304 |
|
20,403 |
|
France ......................................................... |
3,322 |
|
11,782 |
|
6,457 |
|
11,862 |
|
4,597 |
|
12,868 |
|
Brazil .......................................................... |
3,368 |
|
1,868 |
|
3,886 |
|
1,421 |
|
3,659 |
|
1,735 |
|
Other countries ........................................... |
15,735 |
|
25,557 |
|
19,546 |
|
23,020 |
|
18,068 |
|
22,420 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
39,693 |
|
67,784 |
|
56,745 |
|
56,981 |
|
61,751 |
|
73,046 |
1 External net operating income is attributed to countries on the basis of the location of the branch responsible for reporting the results or advancing the funds.
2 Non-current assets consist of property, plant and equipment, goodwill, other intangible assets, interests in associates and joint ventures and certain other assets expected to be recovered more than twelve months after the reporting period.
15 Analysis of financial assets and liabilities by measurement basis
Financial assets and financial liabilities are measured on an ongoing basis either at fair value or at amortised cost. The summary of significant accounting policies in Note 2 describes how the classes of financial instruments are measured, and how income and expenses, including fair value gains and losses, are recognised. The following table analyses the carrying amounts of the financial assets and liabilities by category as defined in IAS 39 and by balance sheet heading.
Related Shares:
HSBC Holdings