HSBC 2006 Annual Report Download - page 27

25
Year ended 31 December 2004
Total
Personal
Financial
Services
US$m
Commercial
Banking
US$m
Corporate,
Investment
Banking &
Markets
US$m
Private
Banking
US$m
Other6
US$m
Inter-
segment
elimination
US$m
Total
US$m
Net interest income ..................... 21,422 4,875 3,994 718 90 – 31,099
Net fee income ............................ 6,406 2,645 2,764 962 171 – 12,948
Trading income ........................... 320 234 1,935 257 40 – 2,786
Net investment income on
assets backing policy-
holders’ liabilities.................... 635 324 9 – 44 – 1,012
Gains less losses from
financial investments .............. 79 6 197 39 219 – 540
Dividend income ......................... 16 37 548 5 16 – 622
Net earned insurance premiums . 3,652 1,072 86 – 558 – 5,368
Other operating income .............. 360 513 1,029 24 2,050 (2,363) 1,613
Total operating income ............... 32,890 9,706 10,562 2,005 3,188 (2,363) 55,988
Net insurance claims2 ................. (2,953) (1,264) (59) – (359) – (4,635)
Net operating income3 ................ 29,937 8,442 10,503 2,005 2,829 (2,363) 51,353
Loan impairment (charges)/
recoveries and other credit
risk provisions ........................ (6,500) (200) 499 11 (1) – (6,191)
Net operating income ................. 23,437 8,242 11,002 2,016 2,828 (2,363) 45,162
Total operating expenses ............ (15,009) (4,220) (5,809) (1,319) (2,493) 2,363 (26,487)
Operating profit .......................... 8,428 4,022 5,193 697 335 – 18,675
Share of profit in associates
and joint ventures ................... 69 35 95 – 69 – 268
Profit before tax .......................... 8,497 4,057 5,288 697 404 – 18,943
% % % % % %
Share of HSBC’s profit
before tax ................................ 44.9 21.4 27.9 3.7 2.1 100.0
Cost efficiency ratio ................... 50.1 50.0 55.3 65.8 88.1 51.6
US$m US$m US$m US$m US$m US$m
Selected balance sheet data5
Loans and advances to
customers (net) ....................... 370,576 130,160 145,353 24,463 2,339 672,891
Total assets ................................. 452,992 159,251 584,779 56,751 26,201 1,279,974
Customer accounts ...................... 319,485 137,801 177,449 57,780 557 693,072
The following assets and
liabilities were significant
to Corporate, Investment
Banking and Markets:
– loans and advances to
banks (net) .......................... 128,032
– trading assets, financial
assets designated at fair
value, and financial
investments ......................... 252,459
– deposits by banks ............... 80,443
For footnotes, see page 26.