HSBC 2004 Annual Report Download - page 321

319
Personal
Financial
Services
Commercial
Banking
Corporate,
Investment
Banking &
Markets
Private
Banking Other
Intra-
HSBC
items Total
US$m US$m US$m US$m US$m US$m US$m
Year ended 31 December
2002
Net interest income ............. 7,429 3,835 3,700 549 (53) – 15,460
Dividend income ................ 6 6 230 2 34 – 278
Net fees and commissions .. 2,979 1,934 2,164 623 124 – 7,824
Dealing profits .................... 50 107 1,008 137 11 – 1,313
Other operating income ...... 773 459 609 102 925 (1,148) 1,720
Operating income ............... 11,237 6,341 7,711 1,413 1,041 (1,148) 26,595
Operating expenses ............. (7,144) (3,317) (4,134) (1,251) (1,110) 1,148 (15,808)
Operating profit/(loss)
before provisions ............ 4,093 3,024 3,577 162 (69) – 10,787
Provisions for bad and
doubtful debts ................. (857) (269) (184) (5) (6) – (1,321)
Provisions for contingent
liabilities and
commitments .................. (42) 19 12 (21) (75) – (107)
Amounts (written off)/
written back on fixed
asset investments ............ (2) 3 (109) (22) (194) – (324)
Operating profit/(loss) ........ 3,192 2,777 3,296 114 (344) – 9,035
Share of operating profit/
(loss) in joint ventures .... (23) 3 (7) (1) – – (28)
Share of operating profit/
(loss) in associates .......... 17 15 46 (10) 67 – 135
Gains on disposal of
investments and tangible
fixed assets ..................... 19 51 317 46 75 – 508
Profit/(loss) on ordinary
activities before tax ........ 3,205 2,846 3,652 149 (202) – 9,650
Segment total assets ............ 171,478 113,520 394,540 48,346 21,276 749,160
Hong Kong Government
certificates of
indebtedness ................... 9,445
Total assets ......................... 758,605
Net assets ............................ 12,101 10,290 16,852 7,366 5,156 51,765
(c) By country of domicile
HSBC Holdings is registered and domiciled in the United Kingdom.
(i) Profit on ordinary activities before tax in the United Kingdom
2004 2003 2002
US$m US$m US$m
Operating income........................................................................... 13,665 10,969 9,504
Profit on ordinary activities before tax ........................................... 4,506 3,474 3,239
Operating income includes intra-HSBC income of US$328 million (2003: US$359 million; 2002:
US$418 million). Profit on ordinary activities before tax includes profit arising on intra-HSBC transactions
of US$303 million (2003: US$376 million; 2002: US$406 million).