HSBC 2004 Annual Report Download - page 130

HSBC HOLDINGS PLC
Financial Review (continued)
128
Year ended 31 December
2004 2003 2002
Liabilities and shareholders’ funds
(continued) Average
balance
Interest
expense Cost
Average
balance
Interest
expense Cost
Average
balance
Interest
expense Cost
US$m US$m % US$m US$m % US$m US$m %
CDs and other money market instruments1
Europe HSBC Bank ...................... 12,427 424 3.41 5,417 151 2.79 2,088 83 3.98
CCF .................................. 9,885 214 2.16 5,739 162 2.82 4,856 201 4.14
Hong Kong Hang Seng Bank ............... 1,266 30 2.37 1,399 36 2.57 2,150 65 3.02
The Hongkong and
Shanghai Banking
Corporation ................... 9,565 357 3.73 8,257 321 3.89 5,331 258 4.84
Rest of Asia-
Pacific
The Hongkong and
Shanghai Banking
Corporation ................... 4,489 183 4.08 3,163 121 3.83 1,659 69 4.16
HSBC Bank Malaysia ....... 261 8 3.07 263 8 3.04 148 7 4.73
North America HSBC Bank USA ............. 1,755 26 1.48 1,604 26 1.62 2,286 62 2.71
HSBC Finance
Corporation2 .................. 11,441 188 1.64 5,522 60 1.09 – – –
HSBC Bank Canada ......... 4,028 89 2.21 3,132 84 2.68 2,168 56 2.58
HSBC Mexico2 ................. 3,566 134 3.76 4,052 169 4.17 318 22 6.92
South America Brazilian operations .......... 102 15 14.71 63 12 19.05 53 14 26.42
HSBC Bank Argentina ...... – – – – – – 105 7 6.67
Other operations .......................................... 2,029 106 5.22 1,479 59 3.99 763 16 2.10
60,814 1,774 2.92 40,090 1,209 3.02 21,925 860 3.92
Loan capital
Europe HSBC Bank ....................... 10,523 579 5.50 8,790 466 5.30 7,053 463 6.56
CCF .................................. 6,365 219 3.44 5,686 187 3.29 3,941 164 4.16
HSBC Finance
Corporation2 .................. 3,485 161 4.62 2,230 111 4.98 – – –
Hong Kong The Hongkong and
Shanghai Banking
Corporation ................... 1,632 80 4.90 1,796 80 4.45 1,786 83 4.65
Rest of Asia-
Pacific
The Hongkong and
Shanghai Banking
Corporation ................... 713 42 5.89 270 17 6.30 151 12 7.95
North America HSBC Bank USA ............. 9,370 350 3.74 3,284 178 5.42 3,396 214 6.30
HSBC Finance
Corporation2 .................. 101,269 2,751 2.72 71,346 1,779 2.49 – – –
HSBC Bank Canada ......... 1,967 76 3.86 1,288 66 5.12 1,014 65 6.41
HSBC Mexico2 ................. – – – 188 13 6.91 19 2 10.53
South America Brazilian operations .......... 258 49 18.99 205 46 22.44 271 44 16.24
HSBC Bank Argentina ...... 95 7 7.37 353 30 8.50 319 62 19.44
Other operations .......................................... 104 (22) (21.15) 9,324 133 1.43 7,148 167 2.34
135,781 4,292 3.16 104,760 3,106 2.96 25,098 1,276 5.08
1Further analysis is given on page 182.
2Costs annualised on the basis of the period of ownership in the year of acquisition.