HSBC 2001 Annual Report Download - page 75

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These items have been eliminated in arriving at total
amounts for other income and operating expenses in
the tables below. Accordingly the total amounts for
these lines are less than the sum of the reported
business lines.
Profit on ordinary activities before tax – cash basis
Figures in US$m
Year ended 31 December 2001
Persona
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Financia
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Services Commercia
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Bankin
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Corporate,
Investmen
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Banking an
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Markets Private Bankin
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Othe
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Tota
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Net interest income................................................ 6,876 3,821 3,418 530 80 14,725
Dividend income ................................................... 5 7 138 4 32 186
Net fees and commissions ..................................... 2,962 1,671 2,117 596 124 7,470
Dealing profits....................................................... 53 103 1,411 124 (6) 1,685
Other income......................................................... 856 422 568 63 996 1,822
Other operating income ......................................... 3,876 2,203 4,234 787 1,146 11,163
Total operating income ....................................... 10,752 6,024 7,652 1,317 1,226 25,888
Operating expenses (excluding goodwill
amortisation)..................................................... (6,608) (3,036 ) (3,899) (891 ) (1,254) (14,605 )
Operating profit before provisions ..................... 4,144 2,988 3,753 426 (28) 11,283
Provisions for bad and doubtful debts.................... (772 ) (662) (34) 29 2 (1,437 )
Argentine general provisio
n
................................... ––––(600)(600)
Provisions for contingent liabilities and
commitments .................................................... (17 ) 16 (14 ) (46 ) (13) (74 )
Princeton Note provisio
n
....................................... ––––(575)(575)
Loss from currency redenomination in Argentina.. ––––(520)(520)
Amounts written off fixed asset investments ......... (5 ) (1 ) (72) (2) (45 ) (125)
Operating profit................................................... 3,350 2,341 3,633 407 (1,779) 7,952
Share of operating profit/(loss) in joint ventures
and associates ................................................... (56) 34 43 – 60 81
Gains on disposal of investments and tangible
fixed assets ....................................................... 210 10 354 5 195 774
Profit/(loss) on ordinary activities before tax
(cash basis) ...................................................... 3,504 2,385 4,030 412 (1,524 ) 8,807
Share of HSBC’ s pre-tax profits (cash basis) (per
cent).................................................................. 39.8% 27.1% 45.8% 4.7% (17.4%) 100.0%
Cost:income ratio (excluding goodwill
amortisation) (per cent)..................................... 61.5% 50.4% 51.0% 67.7% 102.3% 56.4%
Year ended 31 December 2001
Persona
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Financia
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Services Commercia
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Bankin
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Corporate,
Investmen
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Banking an
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Markets Private Bankin
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Othe
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Tota
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Europe................................................................... 1,091 986 1,438 310 357 4,182
Hong Kong............................................................ 1,631 726 1,244 84 198 3,883
Rest of Asia-Pacific............................................... 80 277 725 (16) 30 1,096
North America....................................................... 653 372 438 37 (877) 623
Latin America........................................................ 49 24 185 (3) (1,232 ) (977 )
Profit/(loss) on ordinary activities before tax
(cash basis) ...................................................... 3,504 2,385 4,030 412 (1,524 ) 8,807
Selected balance sheet data (third party items only) at 31 December 2001
Figures in US$m
Persona
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Financia
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Services Commercia
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Bankin
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Corporate,
Investmen
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Banking an
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Markets Private Bankin
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Othe
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Tota
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Loans and advances to customers (net) ....................... 114,982 81,999 99,254 11,005 1,409 308,649
Customer deposits....................................................... 229,903 81,038 88,612 50,233 205 449,991
The following assets and liabilities were also
significant to Corporate, Investment Banking and
Markets
Loans and advances to banks (net).............................. 83,312
Debt securities, treasury bills and other eligible bills... 155,330
Deposits by banks ....................................................... 49,785