HSBC 2002 Annual Report Download - page 231

229
22 Interests in associates
2002
US$m
At 1 January 2002 ................................................................................................................................... 1,056
Additions................................................................................................................................................. 6
Disposals................................................................................................................................................. (19)
Amounts written off................................................................................................................................ (1)
Retained profits and losses (Note 36) ..................................................................................................... (11 )
Exchange and other movements.............................................................................................................. 85
At 31 December 2002............................................................................................................................ 1,116
There was no goodwill included in the interests in associates at either 31 December 2002 or 2001.
2002 2001
US$m US$m
(a) Shares in banks .................................................................................................... 712 718
Other .................................................................................................................... 404 338
1,116 1,056
Listed shares (all listed outside the United Kingdom and Hong Kong)............... 294 521
Unlisted shares..................................................................................................... 822 535
1,116 1,056
(b) The principal associates of HSBC are:
F
inancia
l
Statements
made u
p
to Countr
y
o
f
incor
p
oration
P
rinci
p
a
l
activit
y
H
SBC’s
interest in
e
q
uit
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ca
p
ita
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I
ssued e
q
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ca
p
ita
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Barrowgate Limited ........ 31.12.02 Hong Kong Property
Investment
24.64% *
British Arab
Commercial Bank
Limited ........................
31.12.02 England Banking 46.51% US$81m
£32m fully
paid,
£5m nil paid
The Cyprus Popular
Bank Limited#.............
31.12.02 Cyprus Banking 21.39% C£152m
Erisa ............................... 31.12.02 France Insurance 49.99% €65m
The Saudi British Bank... 31.12.02 Saudi Arabia Banking 40% SR2,000m
Wells Fargo HSBC
Trade Bank, N.A. ........
31.12.02 United States Trade finance 20% ¶
World Finance
International Limited
30.6.02 Bermuda Shipping 50% US$58m
*issued equity capital is less than HK$1 million
#trading as Laiki Group
¶issued equity capital is less than US$1 million.
All the above interests in associates are owned by subsidiaries of HSBC Holdings.
The principal countries of operation are the same as the countries of incorporation except for World Finance
International Limited which operates worldwide, and British Arab Commercial Bank Limited which operates in
the Middle East.