HSBC 2003 Annual Report Download - page 322

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
320
Total
Personal
Financial
Services
1
Commercial
Banking
Corporate,
Investment
Banking &
Markets
Private
Banking Other
Intra-
HSBC
items Total
US$m US$m US$m US$m US$m US$m US$m
Year ended 31 December 2003
Net interest income ............. 16,943 4,196 3,899 574 (14
)
– 25,598
Dividend income ................. 18 3 161 3 37 – 222
Net fees and commissions ... 4,842 2,256 2,315 822 159 – 10,394
Dealing profits .................... 133 118 1,764 209 (46
)
–2,178
Other operating income ....... 1,539 597 810 50 892 (1,208
)
2,680
Operating income ................ 23,475 7,170 8,949 1,658 1,028 (1,208
)
41,072
Operating expenses ............. (12,288
)
(4,041
)
(4,650
)
(1,431
)
(1,330
)
1,208 (22,532
)
Operating profit/(loss)
before provisions ............ 11,187 3,129 4,299 227 (302
)
– 18,540
Provisions for bad and
doubtful debts ................. (5,633
)
(274
)
(297
)
(2
)
113 – (6,093
)
Provisions for contingent
liabilities and
commitments .................. (19
)
14 (53
)
(2
)
25 – (35
)
Loss from foreign currency
redenomination in
Argentina ........................ ––––(9
)
–(9
)
Amounts (written off)/written
back on fixed asset
investments ..................... (18
)
–(91
)
(3
)
6–(106
)
Operating profit/(loss) ......... 5,517 2,869 3,858 220 (167
)
– 12,297
Share of operating profit/
(loss) in joint ventures .... 11 – (127
)
–––(116
)
Share of operating profit
in associates .................... 46 20 80 – 75 – 221
Gains on disposal of
investments and tangible
fixed assets ..................... 30 6 225 61 92 – 414
Profit on ordinary activities
before tax ........................ 5,604 2,895 4,036 281 – – 12,816
Segment total assets ............ 352,104 128,093 462,998 54,510 25,524 1,023,229
Hong Kong Government
certificates of
indebtedness ................... 10,987
Total assets ......................... 1,034,216
Net assets ............................ 30,092 11,268 19,529 8,098 5,486 74,473
1The impact of the acquisition of Household on Personal Financial Services is set out below:
Europe
North
America Total
US$m US$m US$m
Net interest income .............................................................................................................. 438 7,851 8,289
Operating income ................................................................................................................. 636 9,558 10,194
Operating expenses .............................................................................................................. (322
)
(3,454
)
(3,776
)
Provisions for bad and doubtful debts .................................................................................. (180
)
(4,395
)
(4,575
)
Profit on ordinary activities before tax ................................................................................. 134 1,712 1,846
Total assets .......................................................................................................................... 10,526 134,857 145,383
Net assets ............................................................................................................................. 1,997 13,923 15,920