HSBC 2007 Annual Report Download - page 125

123
Profit/(loss) before tax and balance sheet data by customer group and global business
Year ended 31 December 2007
Latin America
Personal
Financial
Services
US$m
Commercial
Banking
US$m
Global
Banking &
Markets
US$m
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination14
US$m
Total
US$m
Net interest income ..................... 3,983 1,407 410 20 3 (247) 5,576
Net fee income ............................ 1,372 485 250 40 6 – 2,153
Trading income excluding net
interest income ....................... 67 39 164 2 – – 272
Net interest income on
trading activities ..................... 10 1 18 – – 247 276
Net trading income5 .................... 77 40 182 2 – 247 548
Net income from financial
instruments designated at
fair value ................................. 314 – 6 – – – 320
Gains less losses from financial
investments ............................. 120 51 82 1 (1) – 253
Gains arising from dilution of
interests in associates ............. – – – – 11 – 11
Dividend income ......................... 5 2 2 – – – 9
Net earned insurance premiums . 1,448 66 80 – – – 1,594
Other operating income .............. 145 69 31 8 12 (37) 228
Total operating income ............ 7,464 2,120 1,043 71 31 (37) 10,692
Net insurance claims6 ................. (1,330) (37) (60) – – – (1,427)
Net operating income4 .............. 6,134 2,083 983 71 31 (37) 9,265
Loan impairment (charges)/
recoveries and other credit
risk provisions ........................ (1,492) (212) 13 – (6) – (1,697)
Net operating income ............... 4,642 1,871 996 71 25 (37) 7,568
Total operating expenses ............ (3,758) (1,132) (481) (46) (22) 37 (5,402)
Operating profit ........................ 884 739 515 25 3 – 2,166
Share of profit in associates
and joint ventures ................... 9 1 2 – – – 12
Profit before tax ........................ 893 740 517 25 3 – 2,178
% % % % % %
Share of HSBC’s profit
before tax ................................ 3.7 3.1 2.1 0.1 – 9.0
Cost efficiency ratio ................... 61.3 54.3 48.9 64.8 71.0 58.3
US$m US$m US$m US$m US$m US$m
Balance sheet data7
Loans and advances to
customers (net) ....................... 21,680 16,243 9,935 65 – 47,923
Total assets ................................. 34,829 20,928 43,012 260 27 99,056
Customer accounts ...................... 30,628 15,524 13,950 1,190 – 61,292
The following assets and
liabilities were significant
to Global Banking and Markets:
– loans and advances to
banks (net) .......................... 10,339
– trading assets, financial
instruments designated at
fair value, and financial
investments ......................... 18,950
– deposits by banks ............... 2,830
For footnotes, see page 130.