HSBC 2001 Annual Report Download - page 244

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
242
Profit on ordinary activities before tax:
Europe
H
on
g
K
on
g
R
est o
f
Asia-
Pacific North America Latin America Tota
l
US$m US$m US$m US$m US$m US$m
Year ended 31 December 1999
Interest receivable............................. 10,298 9,814 3,486 4,679 2,081 30,358
Interest payable................................. (6,067) (6,079) (2,246) (2,992) (984) (18,368)
Net interest income........................... 4,231 3,735 1,240 1,687 1,097 11,990
Dividend income............................... 93 39 2 12 11 157
Fees and commissions receivable ..... 4,144 1,133 761 680 562 7,280
Fees and commissions payable ......... (720) (169) (116) (87) (171) (1,263)
Dealing profits .................................. 543 211 300 181 64 1,299
Other operating income .................... 876 338 36 163 324 1,737
Operating income.............................. 9,167 5,287 2,223 2,636 1,887 21,200
Operating expenses ........................... (5,454) (1,896) (1,162) (1,585) (1,450) (11,547)
Operating profit before provisions.... 3,713 3,391 1,061 1,051 437 9,653
Provisions for bad and doubtful
debts .............................................. (438) (585) (809) (108) (133) (2,073)
Provisions for contingent liabilities
and commitments .......................... (114) 2 (30) (1)
–
(143)
Amounts written off fixed asset
investments.................................... (20 ) (5) (1) – (2) (28)
Operating profit ................................ 3,141 2,803 221 942 302 7,409
Share of operating (loss)/profit in
associates....................................... (1) 15 94 4 11 123
Gains on disposal of investments
and tangible fixed assets................ 182 236 14 13 5 450
Profit on ordinary activities before
tax.................................................. 3,322 3,054 329 959 318 7,982
Total interest receivable and total interest payable include intra-HSBC interest of US$1,136 million (2000:
US$1,658 million; 1999: US$1,154 million). Fees and commissions receivable and fees and commissions
payable include intra-HSBC items of US$117 million (2000: US$137 million; 1999: US$131 million). Other
operating income and operating expenses include intra-HSBC items of US$257 million (2000: US$217 million;
1999: US$198 million).
(b) By country of domicile
HSBC Holdings is registered and domiciled in the United Kingdom.
(i) Profit on ordinary activities before tax in the United Kingdom
2001 2000 1999
US$m US$m US$m
Operating income............................................................. 8,394 8,596 8,111
Profit on ordinary activities before tax ............................ 3,147 3,162 2,707
Operating income includes intra-HSBC income of US$517 million (2000: US$506 million; 1999: US$221
million). Profit on ordinary activities before tax includes profit arising on intra-HSBC transactions of
US$488 million (2000: US$492 million; 1999: US$192 million).