HSBC 2007 Annual Report Download - page 231

229
(Unaudited) Quarter ended
2007
31
December
2007
30
September
2007
30
June
2007
31
March
2007
Number of foreclosed properties at end of period ................ 9,627 9,627 8,809 9,115 9,161
Number of properties added to foreclosed inventory
in the year/quarter .............................................................. 18,755 4,957 4,814 4,540 4,444
Average loss on sale of foreclosed properties1 ...................... 11% 14% 9% 8% 10%
Average time to sell foreclosed properties (days) ................. 184 183 186 185 183
1 The average loss on sale of foreclosed properties is calculated as cash proceeds after deducting selling costs and commissions, minus
the book value of the property when it was moved to ‘Real estate owned’, divided by the book value of the property when it was moved to
‘Real estate owned’.
Impairment allowances and charges
Movement in allowance accounts for total loans and advances
(Audited)
Individually
assessed
Collectively
assessed Total
US$m US$m US$m
At 1 January 2007 ............................................................................................ 2,572 11,013 13,585
Amounts written off ........................................................................................ (897) (11,947) (12,844)
Recoveries of loans and advances written off in previous years .................... 129 876 1,005
Charge to income statement ............................................................................ 796 16,381 17,177
Exchange and other movements ...................................................................... 106 183 289
At 31 December 2007 ..................................................................................... 2,706 16,506 19,212
At 1 January 2006 ............................................................................................ 2,679 8,687 11,366
Amounts written off ........................................................................................ (1,023) (8,450) (9,473)
Recoveries of loans and advances written off in previous years .................... 128 651 779
Charge to income statement ............................................................................ 458 10,089 10,547
Exchange and other movements ...................................................................... 330 36 366
At 31 December 2006 ...................................................................................... 2,572 11,013 13,585