HSBC 2003 Annual Report Download - page 69

67
Profit before tax
Year ended 31 December
2003 2002 2001
Total Household
1
Rest of
HSBC
Europe US$m US$m US$m US$m US$m
Net interest income ......................................... 7,540 438 7,102 6,343 5,563
Dividend income .............................................. 150 – 150 211 116
Net fees and commissions ................................ 5,192 49 5,143 4,528 4,210
Dealing profits .................................................. 960 – 960 508 708
Other income .................................................... 1,253 149 1,104 1,025 1,022
Other operating income .................................... 7,555 198 7,357 6,272 6,056
Total operating income .................................. 15,095 636 14,459 12,615 11,619
Staff costs ......................................................... (5,576
)
(146
)
(5,430
)
(4,425
)
(4,227
)
Premises and equipment ................................... (1,058
)
(56
)
(1,002
)
(966
)
(786
)
Other ................................................................ (2,068
)
(70
)
(1,998
)
(1,763
)
(1,619
)
Depreciation and intangible asset amortisation.. (827
)
(27
)
(800
)
(724
)
(656
)
(9,529
)
(299
)
(9,230
)
(7,878
)
(7,288
)
Goodwill amortisation ...................................... (758
)
(23
)
(735
)
(651
)
(632
)
Operating expenses ........................................... (10,287
)
(322
)
(9,965
)
(8,529
)
(7,920
)
Operating profit before provisions ................ 4,808 314 4,494 4,086 3,699
Provisions for bad and doubtful debts .............. (874
)
(180
)
(694
)
(569
)
(441
)
Provisions for contingent liabilities and
commitments ................................................. (33
)
–(33
)
(15
)
(30
)
Amounts written off fixed asset investments .... (64
)
–(64
)
(267
)
(90
)
Operating profit .............................................. 3,837 134 3,703 3,235 3,138
Share of operating loss in joint venture ............ (127
)
–(127
)
(26
)
(79
)
Share of operating profit/(loss) in associates .... 47 – 47 342
Gains on disposal of investments and
tangible fixed assets ...................................... 212 – 212 288 441
Profit on ordinary activities before tax ......... 3,969 134 3,835 3,500 3,542
%%% %%
Share of HSBC’ s pre-tax profits (excluding
goodwill amortisation) ................................... 33.7 1.0 32.7 39.5 47.5
Share of HSBC’s pre-tax profits ....................... 30.9 1.0 29.9 36.3 44.3
Cost:income ratio (excluding goodwill
amortisation) .................................................. 63.1 47.0 63.8 62.4 62.7
Period-end staff numbers (full-time equivalent) 73,943 4,075 69,868 72,260 73,326
US$m US$m US$m US$m US$m
Selected balance sheet data2
Loans and advances to customers (net) ............ 210,605 8,452 202,153 164,701 133,380
Loans and advances to banks (net) ................... 51,783 27 51,756 39,373 40,641
Debt securities, treasury bills and other
eligible bills ................................................... 82,656 66 82,590 71,446 66,255
Total assets3 ...................................................... 425,312 10,665 414,647 341,569 297,066
Deposits by banks ............................................. 47,500 831 46,669 34,559 36,908
Customer accounts ........................................... 242,724 231 242,493 197,362 169,371
1 Since the date of acquisition.
2 Third party only.
3 Figures for 2002 and 2001 have been restated to reflect the adoption of UITF Abstracts 37 ‘Purchases and sales of own shares’, and 38
‘Accounting for ESOP trusts’, details of which are set out in Note 1 in the ‘Notes on the Financial Statements’ on pages 239 to 240.