31st Mar 2009 16:57
By geographical region
Profit before tax
|
Year ended 31 December 2008 |
|||||||||||||
|
Europe |
Hong Kong |
Rest of Asia- Pacific |
North America |
Latin America |
Intra- HSBC items |
Total |
|||||||
|
US$m |
US$m |
US$m |
US$m |
US$m |
US$m |
US$m |
|||||||
|
Interest income |
35,117 |
9,530 |
11,517 |
25,897 |
11,632 |
(2,392) |
91,301 |
||||||
|
Interest expense |
(25,421) |
(3,832) |
(6,024) |
(10,679) |
(5,174) |
2,392 |
(48,738) |
||||||
|
Net interest income |
9,696 |
5,698 |
5,493 |
15,218 |
6,458 |
- |
42,563 |
||||||
|
Fee income |
10,225 |
3,062 |
3,154 |
6,292 |
2,716 |
(685) |
24,764 |
||||||
|
Fee expense |
(2,733) |
(482) |
(596) |
(1,065) |
(549) |
685 |
(4,740) |
||||||
|
Net fee income |
7,492 |
2,580 |
2,558 |
5,227 |
2,167 |
- |
20,024 |
||||||
|
Trading income/(expense) excluding net interest income |
1,691 |
856 |
1,823 |
(3,879) |
356 |
- |
847 |
||||||
|
Net interest income on trading activities |
3,666 |
337 |
621 |
744 |
345 |
- |
5,713 |
||||||
|
Net trading income/(expense) |
5,357 |
1,193 |
2,444 |
(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) fromother financial instruments designated at fair value |
(1,826) |
(1,194) |
(172) |
1 |
364 |
- |
(2,827) |
||||||
|
Net income 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) |
32 |
(120) |
176 |
- |
197 |
||||||
|
Dividend income |
130 |
41 |
4 |
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 |
1,064 |
23 |
300 |
(2,492) |
1,808 |
||||||
|
Total operating income |
34,046 |
12,076 |
11,621 |
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 |
11,649 |
21,179 |
10,513 |
(2,492) |
81,682 |
||||||
|
Loan impairment charges and other credit risk provisions |
(3,754) |
(765) |
(1,131) |
(16,795) |
(2,492) |
- |
(24,937) |
||||||
|
Net operating income1 |
26,925 |
9,389 |
10,518 |
4,384 |
8,021 |
(2,492) |
56,745 |
||||||
|
Total operating expenses (excluding depreciation, amortisation and impairment) |
(14,979) |
(3,631) |
(5,440) |
(8,891) |
(5,603) |
2,492 |
(36,052) |
||||||
|
Depreciation of property, plant and equipment |
(865) |
(209) |
(188) |
(265) |
(223) |
- |
(1,750) |
||||||
|
Amortisation of intangible assets |
(228) |
(103) |
(35) |
(203) |
(164) |
- |
(733) |
||||||
|
Goodwill impairment |
- |
- |
- |
(10,564) |
- |
- |
(10,564) |
||||||
|
Total operating expenses |
(16,072) |
(3,943) |
(5,663) |
(19,923) |
(5,990) |
2,492 |
(49,099) |
||||||
|
Operating profit/(loss) |
10,853 |
5,446 |
4,855 |
(15,539) |
2,031 |
- |
7,646 |
||||||
|
Share of profit in associates and joint ventures |
16 |
15 |
1,613 |
11 |
6 |
- |
1,661 |
||||||
|
Profit/(loss) before tax |
10,869 |
5,461 |
6,468 |
(15,528) |
2,037 |
- |
9,307 |
||||||
|
Year ended 31 December 2007 |
|||||||||||||
|
Europe |
Hong Kong |
Rest of Asia- Pacific |
North America |
Latin America |
Intra- HSBC items |
Total |
|||||||
|
US$m |
US$m |
US$m |
US$m |
US$m |
US$m |
US$m |
|||||||
|
Interest income |
33,144 |
12,580 |
10,158 |
30,183 |
9,471 |
(3,177) |
92,359 |
||||||
|
Interest expense |
(25,398) |
(7,097) |
(6,015) |
(15,336) |
(3,895) |
3,177 |
(54,564) |
||||||
|
Net interest income |
7,746 |
5,483 |
4,143 |
14,847 |
5,576 |
- |
37,795 |
||||||
|
Fee income |
10,973 |
3,860 |
2,709 |
6,733 |
2,647 |
(585) |
26,337 |
||||||
|
Fee expense |
(2,542) |
(498) |
(463) |
(923) |
(494) |
585 |
(4,335) |
||||||
|
Net fee income |
8,431 |
3,362 |
2,246 |
5,810 |
2,153 |
- |
22,002 |
||||||
|
Trading income/(expense) excluding net interest income |
3,003 |
1,270 |
1,202 |
(1,289) |
272 |
- |
4,458 |
||||||
|
Net interest income/(expense) on trading activities |
3,940 |
(28) |
441 |
747 |
276 |
- |
5,376 |
||||||
|
Net trading income/(expense) |
6,943 |
1,242 |
1,643 |
(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 |
38 |
245 |
253 |
- |
1,956 |
||||||
|
Gains arising from dilution of interests in associates |
- |
- |
1,081 |
- |
11 |
- |
1,092 |
||||||
|
Dividend income |
171 |
31 |
8 |
105 |
9 |
- |
324 |
||||||
|
Net earned insurance premiums |
4,010 |
2,797 |
226 |
449 |
1,594 |
- |
9,076 |
||||||
|
Other operating income |
1,193 |
845 |
798 |
360 |
228 |
(1,985) |
1,439 |
||||||
|
Total operating income |
31,046 |
14,530 |
10,294 |
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 |
10,041 |
22,783 |
9,265 |
(1,985) |
78,993 |
||||||
|
Loan impairment charges and other credit risk provisions |
(2,542) |
(231) |
(616) |
(12,156) |
(1,697) |
- |
(17,242) |
||||||
|
Net operating income1
|
25,025 |
11,091 |
9,425 |
10,627 |
7,568 |
(1,985) |
61,751 |
||||||
|
Total operating expenses (excluding depreciation and amortisation) |
(15,451) |
(3,510) |
(4,572) |
(10,037) |
(5,043) |
1,985 |
(36,628) |
||||||
|
Depreciation of property, plant and equipment |
(848) |
(180) |
(159) |
(317) |
(210) |
- |
(1,714) |
||||||
|
Amortisation of intangible assets |
(226) |
(90) |
(33) |
(202) |
(149) |
- |
(700) |
||||||
|
Total operating expenses |
(16,525) |
(3,780) |
(4,764) |
(10,556) |
(5,402) |
1,985 |
(39,042) |
||||||
|
Operating profit |
8,500 |
7,311 |
4,661 |
71 |
2,166 |
- |
22,709 |
||||||
|
Share of profit in associates and joint ventures |
95 |
28 |
1,348 |
20 |
12 |
- |
1,503 |
||||||
|
Profit before tax |
8,595 |
7,339 |
6,009 |
91 |
2,178 |
- |
24,212 |
||||||
By geographical region (continued)
Profit before tax
|
Year ended 31 December 2006 |
|||||||||||||
|
Europe |
Hong Kong |
Rest of Asia- Pacific |
North America |
Latin America |
Intra- HSBC items |
Total |
|||||||
|
US$m |
US$m |
US$m |
US$m |
US$m |
US$m |
US$m |
|||||||
|
Interest income |
25,249 |
11,097 |
7,693 |
27,959 |
7,289 |
(3,408) |
75,879 |
||||||
|
Interest expense |
(16,960) |
(6,412) |
(4,646) |
(13,691) |
(3,092) |
3,408 |
(41,393) |
||||||
|
Net interest income |
8,289 |
4,685 |
3,047 |
14,268 |
4,197 |
- |
34,486 |
||||||
|
Fee income |
9,583 |
2,448 |
1,912 |
5,611 |
1,975 |
(449) |
21,080 |
||||||
|
Fee expense |
(2,475) |
(392) |
(290) |
(845) |
(345) |
449 |
(3,898) |
||||||
|
Net fee income |
7,108 |
2,056 |
1,622 |
4,766 |
1,630 |
- |
17,182 |
||||||
|
Trading income excluding net interest income |
2,842 |
924 |
935 |
617 |
301 |
- |
5,619 |
||||||
|
Net interest income/(expense) on trading activities |
1,687 |
(307) |
246 |
741 |
236 |
- |
2,603 |
||||||
|
Net trading income |
4,529 |
617 |
1,181 |
1,358 |
537 |
- |
8,222 |
||||||
|
Changes in fair value of long- term debt issued and related derivatives |
28 |
- |
- |
(63) |
- |
- |
(35) |
||||||
|
Net income from other financial instruments designated at fair value |
116 |
260 |
79 |
- |
237 |
- |
692 |
||||||
|
Net income/(expense) from financial instruments designated at fair value |
144 |
260 |
79 |
(63) |
237 |
- |
657 |
||||||
|
Gains less losses from financial investments |
624 |
162 |
41 |
58 |
84 |
- |
969 |
||||||
|
Dividend income |
183 |
61 |
5 |
85 |
6 |
- |
340 |
||||||
|
Net earned insurance premiums |
1,298 |
2,628 |
174 |
492 |
1,076 |
- |
5,668 |
||||||
|
Other operating income |
1,428 |
834 |
765 |
922 |
91 |
(1,494) |
2,546 |
||||||
|
Total operating income |
23,603 |
11,303 |
6,914 |
21,886 |
7,858 |
(1,494) |
70,070 |
||||||
|
Net insurance claims incurred and movement in liabilities to policyholders |
(531) |
(2,699) |
(192) |
(259) |
(1,023) |
- |
(4,704) |
||||||
|
Net operating income before loan impairment charges and other credit risk provisions |
23,072 |
8,604 |
6,722 |
21,627 |
6,835 |
(1,494) |
65,366 |
||||||
|
Loan impairment charges and other credit risk provisions |
(2,155) |
(172) |
(512) |
(6,796) |
(938) |
- |
(10,573) |
||||||
|
Net operating income1
|
20,917 |
8,432 |
6,210 |
14,831 |
5,897 |
(1,494) |
54,793 |
||||||
|
Total operating expenses (excluding depreciation and amortisation) |
(12,811) |
(3,002) |
(3,412) |
(9,669) |
(3,923) |
1,494 |
(31,323) |
||||||
|
Depreciation of property, plant and equipment |
(762) |
(171) |
(124) |
(284) |
(173) |
- |
(1,514) |
||||||
|
Amortisation of intangible assets |
(298) |
(96) |
(12) |
(240) |
(70) |
- |
(716) |
||||||
|
Total operating expenses |
(13,871) |
(3,269) |
(3,548) |
(10,193) |
(4,166) |
1,494 |
(33,553) |
||||||
|
Operating profit |
7,046 |
5,163 |
2,662 |
4,638 |
1,731 |
- |
21,240 |
||||||
|
Share of profit/(loss) in associates and joint ventures |
(72) |
19 |
865 |
30 |
4 |
- |
846 |
||||||
|
Profit before tax |
6,974 |
5,182 |
3,527 |
4,668 |
1,735 |
- |
22,086 |
||||||
Total assets
|
At 31 December 2008 |
At 31 December 2007 |
||||||
|
US$m |
% |
US$m |
% |
||||
|
Europe |
1,343,011 |
53.1 |
1,236,633 |
52.5 |
|||
|
Hong Kong |
407,151 |
16.1 |
356,894 |
15.2 |
|||
|
Rest of Asia-Pacific |
262,305 |
10.4 |
243,205 |
10.3 |
|||
|
North America |
552,612 |
21.9 |
549,285 |
23.3 |
|||
|
Latin America |
97,944 |
3.9 |
101,088 |
4.3 |
|||
|
Intra-HSBC items |
(135,558) |
(5.4) |
(132,839) |
(5.6) |
|||
|
2,527,465 |
100.0 |
2,354,266 |
100.0 |
||||
Total liabilities
|
At 31 December 2008 |
At 31 December 2007 |
||||||
|
US$m |
% |
US$m |
% |
||||
|
Europe |
1,312,922 |
54.1 |
1,178,826 |
53.1 |
|||
|
Hong Kong |
393,304 |
16.2 |
341,519 |
15.4 |
|||
|
Rest of Asia-Pacific |
241,674 |
10.0 |
225,592 |
10.2 |
|||
|
North America |
527,967 |
21.8 |
517,516 |
23.3 |
|||
|
Latin America |
86,927 |
3.6 |
88,236 |
4.0 |
|||
|
Intra-HSBC items |
(135,558) |
(5.7) |
(132,839) |
(6.0) |
|||
|
2,427,236 |
100.0 |
2,218,850 |
100.0 |
||||
Other disclosures
|
Europe |
Hong Kong |
Rest of Asia- Pacific |
North America |
Latin America |
Intra-HSBC items |
Total |
|||||||
|
US$m |
US$m |
US$m |
US$m |
US$m |
US$m |
US$m |
|||||||
|
Year ended 31 December 2008 |
|||||||||||||
|
Capital expenditure incurred2
|
2,078 |
440 |
511 |
726 |
617 |
- |
4,372 |
||||||
|
Investment in associates and joint ventures |
137 |
153 |
11,111 |
128 |
8 |
- |
11,537 |
||||||
|
1 Net operating income: |
|||||||||||||
|
External |
25,887 |
8,205 |
9,396 |
5,236 |
8,021 |
- |
56,745 |
||||||
|
Inter-segment |
1,038 |
1,184 |
1,122 |
(852) |
- |
(2,492) |
- |
||||||
|
Year ended 31 December 2007 |
|||||||||||||
|
Capital expenditure incurred2
|
1,722 |
441 |
277 |
833 |
599 |
- |
3,872 |
||||||
|
Investment in associates and joint ventures |
158 |
155 |
9,867 |
127 |
77 |
- |
10,384 |
||||||
|
1 Net operating income: |
|||||||||||||
|
External |
23,772 |
10,168 |
8,456 |
11,784 |
7,571 |
- |
61,751 |
||||||
|
Inter-segment |
1,253 |
923 |
969 |
(1,157) |
(3) |
(1,985) |
- |
||||||
|
Year ended 31 December 2006 |
|||||||||||||
|
Capital expenditure incurred2
|
1,508 |
324 |
235 |
899 |
2,017 |
- |
4,983 |
||||||
|
Investment in associates and joint ventures |
1,321 |
128 |
6,322 |
541 |
84 |
- |
8,396 |
||||||
|
1 Net operating income: |
|||||||||||||
|
External |
19,664 |
7,970 |
5,592 |
15,694 |
5,873 |
- |
54,793 |
||||||
|
Inter-segment |
1,253 |
462 |
618 |
(863) |
24 |
(1,494) |
- |
||||||
2 Expenditure incurred on property, plant and equipment and intangible assets
By customer groups and global businesses
Total assets
|
US$m |
% |
US$m |
% |
||||
|
Personal Financial Services |
514,419 |
20.4 |
621,356 |
26.4 |
|||
|
Commercial Banking |
249,218 |
9.9 |
307,944 |
13.1 |
|||
|
Global Banking and Markets |
1,896,630 |
75.0 |
1,561,468 |
66.3 |
|||
|
Private Banking |
133,216 |
5.3 |
130,893 |
5.6 |
|||
|
Other |
135,001 |
5.3 |
155,685 |
6.6 |
|||
|
Intra-HSBC items |
(401,019) |
(15.9) |
(423,080) |
(18.0) |
|||
|
Total assets |
2,527,465 |
100.0 |
2,354,266 |
100.0 |
|||
|
At 31 December 2008 |
At 31 December 2007 |
||||||
|
US$m |
% |
US$m |
% |
||||
|
Personal Financial Services |
514,419 |
20.4 |
621,356 |
26.4 |
|||
|
Commercial Banking |
249,218 |
9.9 |
307,944 |
13.1 |
|||
|
Global Banking and Markets |
1,896,630 |
75.0 |
1,561,468 |
66.3 |
|||
|
Private Banking |
133,216 |
5.3 |
130,893 |
5.6 |
|||
|
Other |
135,001 |
5.3 |
155,685 |
6.6 |
|||
|
Intra-HSBC items |
(401,019) |
(15.9) |
(423,080) |
(18.0) |
|||
|
Total assets |
2,527,465 |
100.0 |
2,354,266 |
100.0 |
|||
Profit before tax
|
Year ended 31 December 2008 |
|||||||||||||
|
Personal Financial Services |
Commercial Banking |
Global Banking & Markets |
Private Banking |
Other |
Intra- HSBC items |
Total |
|||||||
|
US$m |
US$m |
US$m |
US$m |
US$m |
US$m |
US$m |
|||||||
|
Net interest income/(expense) |
29,419 |
9,494 |
8,541 |
1,612 |
(956) |
(5,547) |
42,563 |
||||||
|
Net fee income |
10,107 |
4,097 |
4,291 |
1,476 |
53 |
- |
20,024 |
||||||
|
Trading income/(expense) excluding net interestincome |
175 |
369 |
157 |
408 |
(262) |
- |
847 |
||||||
|
Net interest income/(expense) on trading activities |
79 |
17 |
324 |
14 |
(268) |
5,547 |
5,713 |
||||||
|
Net trading income/(expense) |
254 |
386 |
481 |
422 |
(530) |
5,547 |
6,560 |
||||||
|
Changes in fair value of long- term debt issued and related derivatives |
- |
- |
- |
- |
6,679 |
- |
6,679 |
||||||
|
Net income/(expense) from other financial instruments designated at fair value |
(2,912) |
(224) |
(438) |
- |
747 |
- |
(2,827) |
||||||
|
Net income/(expense) from financial instruments designated at fair value |
(2,912) |
(224) |
(438) |
- |
7,426 |
- |
3,852 |
||||||
|
Gains less losses from financial investments |
663 |
193 |
(327) |
64 |
(396) |
- |
197 |
||||||
|
Dividend income |
90 |
88 |
76 |
8 |
10 |
- |
272 |
||||||
|
Net earned insurance premiums |
10,083 |
679 |
105 |
- |
(17) |
- |
10,850 |
||||||
|
Gains on disposal of French regional banks |
- |
- |
- |
- |
2,445 |
- |
2,445 |
||||||
|
Other operating income |
259 |
939 |
868 |
49 |
4,261 |
(4,568) |
1,808 |
||||||
|
Total operating income |
47,963 |
15,652 |
13,597 |
3,631 |
12,296 |
(4,568) |
88,571 |
||||||
|
Net insurance claims incurred and movement in liabilities to policyholders |
(6,474) |
(335) |
(79) |
- |
(1) |
- |
(6,889) |
||||||
|
Net operating income1 |
41,489 |
15,317 |
13,518 |
3,631 |
12,295 |
(4,568) |
81,682 |
||||||
|
Loan impairment charges and other credit risk provisions |
(21,220) |
(2,173) |
(1,471) |
(68) |
(5) |
- |
(24,937) |
||||||
|
Net operating income2 |
20,269 |
13,144 |
12,047 |
3,563 |
12,290 |
(4,568) |
56,745 |
||||||
|
Operating expenses (excluding goodwill impairment) |
(21,140) |
(6,581) |
(9,092) |
(2,116) |
(4,174) |
4,568 |
(38,535) |
||||||
|
Goodwill impairment |
(10,564) |
- |
- |
- |
- |
- |
(10,564) |
||||||
|
Operating profit/(loss) |
(11,435) |
6,563 |
2,955 |
1,447 |
8,116 |
- |
7,646 |
||||||
|
Share of profit in associates and joint ventures |
461 |
631 |
528 |
- |
41 |
- |
1,661 |
||||||
|
Profit/(loss) before tax |
(10,974) |
7,194 |
3,483 |
1,447 |
8,157 |
- |
9,307 |
||||||
|
Capital expenditure incurred3 |
1,901 |
536 |
1,115 |
61 |
759 |
4,372 |
|||||||
|
1 Net operating income before loan impairment charges and other credit risk provisions. |
|||||||||||||
|
2 Net operating income: |
|||||||||||||
|
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) |
- |
||||||
Expenditure incurred on property, plant and equipment and intangible assets.
|
Year ended 31 December 2007 |
|||||||||||||
|
Personal Financial Services |
Commercial Banking |
Global Banking & Markets |
Private Banking |
Other |
Intra- HSBC items |
Total |
|||||||
|
US$m |
US$m |
US$m |
US$m |
US$m |
US$m |
US$m |
|||||||
|
Net interest income/(expense) |
29,069 |
9,055 |
4,430 |
1,216 |
(542) |
(5,433) |
37,795 |
||||||
|
Net fee income/(expense) |
11,742 |
3,972 |
4,901 |
1,615 |
(228) |
- |
22,002 |
||||||
|
Trading income excluding net interest income |
38 |
265 |
3,503 |
525 |
127 |
- |
4,458 |
||||||
|
Net interest income/(expense) on trading activities |
140 |
31 |
(236) |
9 |
(1) |
5,433 |
5,376 |
||||||
|
Net trading income |
178 |
296 |
3,267 |
534 |
126 |
5,433 |
9,834 |
||||||
|
Changes in fair value of long- term debt issued and related derivatives |
- |
- |
- |
- |
2,812 |
- |
2,812 |
||||||
|
Net income/(expense) from other financial instruments designated at fair value |
1,333 |
22 |
(164) |
(1) |
81 |
- |
1,271 |
||||||
|
Net income/(expense) from financial instruments designated at fair value |
1,333 |
22 |
(164) |
(1) |
2,893 |
- |
4,083 |
||||||
|
Gains less losses from financial investments |
351 |
90 |
1,313 |
119 |
83 |
- |
1,956 |
||||||
|
Gains arising from dilution in interests in associates |
- |
- |
- |
- |
1,092 |
- |
1,092 |
||||||
|
Dividend income |
55 |
8 |
222 |
7 |
32 |
- |
324 |
||||||
|
Net earned insurance premiums |
8,271 |
733 |
93 |
- |
(21) |
- |
9,076 |
||||||
|
Other operating income |
387 |
165 |
1,218 |
58 |
3,523 |
(3,912) |
1,439 |
||||||
|
Total operating income |
51,386 |
14,341 |
15,280 |
3,548 |
6,958 |
(3,912) |
87,601 |
||||||
|
Net insurance claims incurred and movement in liabilities to policyholders |
(8,147) |
(391) |
(70) |
- |
- |
- |
(8,608) |
||||||
|
Net operating income1
|
43,239 |
13,950 |
15,210 |
3,548 |
6,958 |
(3,912) |
78,993 |
||||||
|
Loan impairment charges and other credit risk provisions |
(16,172) |
(1,007) |
(38) |
(14) |
(11) |
- |
(17,242) |
||||||
|
Net operating income2
|
27,067 |
12,943 |
15,172 |
3,534 |
6,947 |
(3,912) |
61,751 |
||||||
|
Operating expenses |
(21,757) |
(6,252) |
(9,358) |
(2,025) |
(3,562) |
3,912 |
(39,042) |
||||||
|
Operating profit |
5,310 |
6,691 |
5,814 |
1,509 |
3,385 |
- |
22,709 |
||||||
|
Share of profit in associates and joint ventures |
590 |
454 |
307 |
2 |
150 |
- |
1,503 |
||||||
|
Profit before tax |
5,900 |
7,145 |
6,121 |
1,511 |
3,535 |
- |
24,212 |
||||||
|
Capital expenditure incurred3
|
1,335 |
527 |
942 |
73 |
995 |
- |
3,872 |
||||||
|
1 Net operating income before loan impairment charges and other credit risk provisions. |
|||||||||||||
|
2 Net operating income: |
|||||||||||||
|
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) |
- |
||||||
3 Expenditure incurred on property, plant and equipment and intangible assets.
Profit before tax (continued)
|
Year ended 31 December 2006 |
|||||||||||||
|
Personal Financial Services |
Commercial Banking |
Global Banking & Markets |
Private Banking |
Other |
Intra- HSBC items |
Total |
|||||||
|
US$m |
US$m |
US$m |
US$m |
US$m |
US$m |
US$m |
|||||||
|
Net interest income/(expense) |
26,076 |
7,514 |
3,168 |
1,011 |
(625) |
(2,658) |
34,486 |
||||||
|
Net fee income |
8,762 |
3,207 |
3,718 |
1,323 |
172 |
- |
17,182 |
||||||
|
Trading income/(expense) excluding net interest income |
391 |
204 |
4,890 |
362 |
(228) |
- |
5,619 |
||||||
|
Net interest income/(expense) on trading activities |
220 |
20 |
(379) |
2 |
82 |
2,658 |
2,603 |
||||||
|
Net trading income/(expense) |
611 |
224 |
4,511 |
364 |
(146) |
2,658 |
8,222 |
||||||
|
Changes in fair value of long- term debt issued and related derivatives |
- |
- |
- |
- |
(35) |
- |
(35) |
||||||
|
Net income/(expense) from other financial instruments designated at fair value |
739 |
(22) |
20 |
1 |
(46) |
- |
692 |
||||||
|
Net income/(expense) from financial instruments designated at fair value |
739 |
(22) |
20 |
1 |
(81) |
- |
657 |
||||||
|
Gains less losses from financial investments |
78 |
44 |
534 |
166 |
147 |
- |
969 |
||||||
|
Dividend income |
31 |
6 |
235 |
5 |
63 |
- |
340 |
||||||
|
Net earned insurance premiums |
5,130 |
258 |
73 |
- |
207 |
- |
5,668 |
||||||
|
Other operating income |
782 |
250 |
1,378 |
61 |
3,254 |
(3,179) |
2,546 |
||||||
|
Total operating income |
42,209 |
11,481 |
13,637 |
2,931 |
2,991 |
(3,179) |
70,070 |
||||||
|
Net insurance claims incurred and movement in liabilities to policyholders |
(4,365) |
(96) |
(62) |
- |
(181) |
- |
(4,704) |
||||||
|
Net operating income1 |
37,844 |
11,385 |
13,575 |
2,931 |
2,810 |
(3,179) |
65,366 |
||||||
|
Loan impairment (charges)/ recoveries and other credit risk provisions |
(9,949) |
(697) |
119 |
(33) |
(13) |
- |
(10,573) |
||||||
|
Net operating income2
|
27,895 |
10,688 |
13,694 |
2,898 |
2,797 |
(3,179) |
54,793 |
||||||
|
Operating expenses |
(18,818) |
(4,979) |
(7,991) |
(1,685) |
(3,259) |
3,179 |
(33,553) |
||||||
|
Operating profit/(loss) |
9,077 |
5,709 |
5,703 |
1,213 |
(462) |
- |
21,240 |
||||||
|
Share of profit in associates and joint ventures |
380 |
288 |
103 |
1 |
74 |
- |
846 |
||||||
|
Profit/(loss) before tax |
9,457 |
5,997 |
5,806 |
1,214 |
(388) |
- |
22,086 |
||||||
|
Capital expenditure incurred3 |
2,150 |
1,083 |
1,021 |
45 |
684 |
- |
4,983 |
||||||
|
1 Net operating income before loan impairment (charges)/recoveries and other credit risk provisions. |
|||||||||||||
|
2 Net operating income: |
|||||||||||||
|
External |
23,238 |
9,692 |
20,034 |
1,661 |
168 |
- |
54,793 |
||||||
|
Inter-segment |
4,657 |
996 |
(6,340) |
1,237 |
2,629 |
(3,179) |
- |
||||||
3 Expenditure incurred on property, plant and equipment and intangible assets.
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