HSBC 2004 Annual Report Download - page 268

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
266
16 Provisions for bad and doubtful debts
Provisions against advances
Specific General Total
Suspended
interest
US$m US$m US$m US$m
At 1 January 2004 ...................................................... 10,902 2,813 13,715 610
Amounts written off ..................................................... (8,896) – (8,896) (246)
Recoveries of advances written off ............................... 912 – 912 –
Charge/(credit) to profit and loss account .................... 6,793 (436) 6,357 –
Interest suspended during the year ............................... –––184
Suspended interest recovered ....................................... –––(131)
Acquisition of subsidiaries ........................................... 219 37 256 17
Exchange and other movements ................................... 187 155 342 (6)
At 31 December 2004 ................................................. 10,117 2,569 12,686 428
Included in:
Loans and advances to banks (Note 14) ................... 17
Loans and advances to customers (Note 15) ............ 12,669
12,686
At 1 January 2003 ........................................................ 6,629 2,511 9,140 566
Amounts written off ..................................................... (7,456) – (7,456) (147)
Recoveries of advances written off .............................. 610 – 610 –
Charge/(credit) to profit and loss account .................... 6,214 (121) 6,093 –
Interest suspended during the year ............................... – – – 240
Suspended interest recovered ....................................... – – – (182)
Acquisition of subsidiaries ........................................... 4,269 500 4,769 –
Exchange and other movements ................................... 636 (77) 559 133
At 31 December 2003 .................................................. 10,902 2,813 13,715 610
Included in:
Loans and advances to banks (Note 14) ................... 24
Loans and advances to customers (Note 15) ............ 13,691
13,715
At 1 January 2002 ........................................................ 5,522 2,661 8,183 861
Amounts written off ..................................................... (2,111) – (2,111) (327)
Recoveries of advances written off .............................. 180 – 180 –
Charge/(credit) to profit and loss account .................... 1,672 (351) 1,321 –
Interest suspended during the year ............................... – – – 426
Suspended interest recovered ....................................... – – – (214)
Acquisition of subsidiaries ........................................... 1,278 426 1,704 –
Exchange and other movements ................................... 88 (225) (137) (180)
At 31 December 2002 .................................................. 6,629 2,511 9,140 566
Included in:
Loans and advances to banks ................................... 23
Loans and advances to customers ............................ 9,117
9,140
The total of customer advances, net of suspended interest, on which interest is being placed in suspense, is as
follows:
2004 2003 2002
US$m US$m US$m
Gross ............................................................................................................... 4,229 5,513 5,485
Net of specific provisions................................................................................ 1,823 2,673 2,780