HSBC 2003 Annual Report Download - page 99

97
North America
Profit/(loss) before tax excluding goodwill amortisation
Year ended 31 December
2003 2002
3
2001
US$m US$m US$m
Personal Financial Services .......................................................... 870 605 593
USA ................................................................................................. 446 519 546
Canada ............................................................................................. 66 59 61
Mexico ............................................................................................ 345 23 –
Other ............................................................................................... 13 4(14
)
Consumer Finance2........................................................................ 2,068 ––
USA ................................................................................................. 2,002 ––
Canada ............................................................................................. 66 ––
Mexico ............................................................................................ – – –
Other ............................................................................................... – – –
Total Personal Financial Services ................................................ 2,938 605 593
USA ................................................................................................. 2,448 519 546
Canada ............................................................................................. 132 59 61
Mexico ............................................................................................ 345 23 –
Other ............................................................................................... 13 4(14
)
Commercial Banking ..................................................................... 595 435 410
USA ................................................................................................. 292 281 273
Canada ............................................................................................. 162 162 101
Mexico ............................................................................................ 121 914
Other ............................................................................................... 20 (17
)
22
Corporate, Investment Banking and Markets ............................. 837 494 441
USA ................................................................................................. 651 447 368
Canada ............................................................................................. 121 47 68
Mexico ............................................................................................ 66 3–
Other ............................................................................................... (1
)
(3
)
5
Private Banking ............................................................................. 63 57 81
USA ................................................................................................. 63 53 80
Canada ............................................................................................. –––
Mexico ............................................................................................ –––
Other ............................................................................................... –41
Other .............................................................................................. (176
)
(207
)
(877
)
USA ................................................................................................. (193
)
(209
)
(883
)
Canada ............................................................................................. –(1
)
–
Mexico ............................................................................................ –––
Other ............................................................................................... 17 36
Total1 .............................................................................................. 4,257 1,384 648
USA ................................................................................................. 3,261 1,091 384
Canada ............................................................................................. 415 267 230
Mexico ............................................................................................ 532 35 14
Other ............................................................................................... 49 (9
)
20
1 Goodwill amortisation excluded:
– arising on subsidiaries ............................................................. 643 146 145
– arising on associates and joint ventures ................................... 1––
– total .......................................................................................... 644 146 145
2 Comprises Household since the date of acquisition.
3 In 2003, North America implemented a revised funds transfer pricing system to transfer interest rate risk from the business units to
Corporate, Investment Banking and Markets. The figures for 2002 have been restated to reflect the impact of transfer pricing had it
been in place on a similar basis. The effect on the figures for 2001 is immaterial.