HSBC 2005 Annual Report Download - page 281

279
Year ended 31 December 2004
Europe
Hong
Kong
Rest o
f
Asia-
Pacific
North
America
South
America
Intra-
HSBC
items Total
US$m US$m US$m US$m US$m US$m US$m
Interest income .......................... 18,360 5,133 4,149 21,281 2,376 (828) 50,471
Interest expense ......................... (9,262) (1,495) (2,089) (6,288) (1,066) 828 (19,372)
Net interest income .................... 9,098 3,638 2,060 14,993 1,310
–
31,099
Fee income ................................. 7,546 1,964 1,287 4,751 590 (236) 15,902
Fee expense ................................ (1,566) (261) (246) (986) (131) 236 (2,954)
Net fee income ........................... 5,980 1,703 1,041 3,765 459
–
12,948
Trading income .......................... 997 659 494 582 54
–
2,786
Net investment income on
assets backing
policyholders’ liabilities ........ 571 314 32
–
95
–
1,012
Gains less losses from financial
investments ............................ 154 175 17 160 34
–
540
Dividend income ....................... 558 27 3 32 2
–
622
Net earned insurance premiums 1,875 2,247 97 553 596
–
5,368
Other operating income ............. 1,175 536 146 359 28 (631) 1,613
Total operating income .............. 20,408 9,299 3,890 20,444 2,578 (631) 55,988
Net insurance claims incurred
and movement in
policyholders’ liabilities ........ (1,628) (2,154) (82) (312) (459)
–
(4,635)
Net operating income before
loan impairment charges and
other credit risk provisions .... 18,780 7,145 3,808 20,132 2,119 (631) 51,353
Loan impairment charges and
other credit risk provisions .... (1,033) 220 (89) (5,022) (267)
–
(6,191)
Net operating income1 ............... 17,747 7,365 3,719 15,110 1,852 (631) 45,162
Total operating expenses
(excluding depreciation and
amortisation) ......................... (10,783) (2,256) (1,984) (8,520) (1,350) 631 (24,262)
Depreciation of property, plant
and equipment ....................... (1,095) (168) (99) (311) (58)
–
(1,731)
Amortisation of intangible
assets ..................................... (150) (134) (4) (201) (5)
–
(494)
Total operating expenses ........... (12,028) (2,558) (2,087) (9,032) (1,413) 631 (26,487)
Operating profit ......................... 5,719 4,807 1,632 6,078 439
–
18,675
Share of profit in associates and
joint ventures ......................... 37 23 215 (8) 1
–
268
Profit before tax ......................... 5,756 4,830 1,847 6,070 440
–
18,943
Other disclosures:
Capital expenditure incurred2 .... 2,001 234 114 2,046 233
–
4,628
Investment in associates and
joint ventures ......................... 896 97 2,392 46 9
–
3,440
1Net operating income:
External ................................. 17,463 7,052 3,569 15,182 1,89
6
–
45,162
Inter-segment ........................ 284 313 150 (72) (44) (631)
–
2Expenditure incurred on property, plant and equipment and intangible assets.