HSBC 2004 Annual Report Download - page 280

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
278
25 Investments
(a) HSBC Holdings
Shares in
HSBC
undertakings
Loans to
HSBC
undertakings
Debt
securities of
HSBC
undertakings
Other
investments
other than
loans Total
US$m US$m US$m US$m US$m
At 1 January 2004 ....................... 80,501 3,788 – 537 84,826
Reclassification ........................... (1,175) – 1,175 – –
Additions .................................... 3,696 924 710 387 5,717
Repayments and redemptions ..... – – – (365) (365)
Impairment provisions ................ (92) – – – (92)
Write-up of subsidiaries
(Note 35) ................................ 11,955 – – – 11,955
Other movements ........................ –––2222
At 31 December 2004 ................ 94,885 4,712 1,885 581 102,063
‘Loans to HSBC undertakings’ includes qualifying or regulatory capital and similar financing which can only be
repaid by the relevant HSBC undertaking with the consent of its local regulatory authority.
On the historical cost basis, shares in HSBC undertakings would have been included as follows:
2004 2003
US$m US$m
Cost less provisions of US$283 million (2003: US$191 million) ........................................... 29,842 26,224
(b) The principal subsidiary undertakings of HSBC Holdings are:
Country
of incorporation or
registration
Principal
activity
Issued equity
capital
Europe
CCF S.A. (99.99% owned) ............................................... France Banking €372m
HFC Bank Limited ........................................................... England Financial services £109m
HSBC Asset Management (Europe) Limited .................... England Investment banking £142m
HSBC Asset Finance (UK) Limited .................................. England Finance £265m
HSBC Bank A.S. .............................................................. Turkey Banking TRL277bn
HSBC Bank Malta p.l.c. (70.03% owned) ........................ Malta Banking Lm9m
HSBC Bank Middle East Limited...................................... Jersey Banking US$331m
HSBC Bank plc (directly owned) ...................................... England Banking £797m
HSBC Guyerzeller Bank AG ............................................ Switzerland Private banking SFr95m
HSBC Insurance Brokers Limited ..................................... England Insurance £2.8m
HSBC Life (UK) Limited ................................................. England Insurance £94m
HSBC Private Bank (Guernsey) Limited .......................... Guernsey Private banking US$5m1
HSBC Private Bank (Suisse) S.A. ..................................... Switzerland Private banking SFr683m
HSBC Private Bank (UK) Limited
(formerly HSBC Republic Bank (UK) Limited) ........... England Private banking £152m
HSBC Trinkaus & Burkhardt KGaA
(partnership limited by shares, 73.47% owned) ............ Germany Banking €70m
Hong Kong
Hang Seng Bank Limited (62.14% owned) ....................... Hong Kong Banking HK$9,559m
HSBC Insurance (Asia) Limited ....................................... Hong Kong Insurance HK$125m
HSBC Life (International) Limited ................................... Bermuda
Retirement benefits
and life assurance HK$327m
The Hongkong and Shanghai Banking Corporation
Limited ......................................................................... Hong Kong Banking
H
HK$22,494m
Rest of Asia-Pacific
HSBC Bank Australia Limited .......................................... Australia Banking A$811m
HSBC Bank Egypt S.A.E. (94.53% owned) ...................... Egypt Banking E£500m
HSBC Asset Management (Taiwan) Ltd ........................... Taiwan Investment banking TWD788m
HSBC Bank Malaysia Berhad ........................................... Malaysia Banking RM$114m