HSBC 2009 Annual Report Download - page 125

123
2008
Middle East27
Personal
Financial
Services
US$m
Commercial
Banking
US$m
Global
Banking &
Markets
US$m
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination50
US$m
Total
US$m
Net interest income ..................... 652 510 362 3 46 (17) 1,556
Net fee income ............................ 227 241 217 6 – – 691
Trading income excluding net
interest income ....................... 47 65 244 – 24 – 380
Net interest income/(expense)
on trading activities ................ – – 20 – (15) 17 22
Net trading income42 ................... 47 65 264 – 9 17 402
Gains less losses from
financial investments .............. 14 – (6) – – – 8
Dividend income ......................... – – 2 – – – 2
Other operating income ............... 21 8 11 3 26 (60) 9
Total operating income ............... 961 824 850 12 81 (60) 2,668
Net insurance claims43 ................ – – – – – – –
Net operating income16 ............... 961 824 850 12 81 (60) 2,668
Loan impairment (charges)/
recoveries and other credit
risk provisions ........................ (223) (45) (12) – 1 – (279)
Net operating income ................. 738 779 838 12 82 (60) 2,389
Total operating expenses ............ (511) (264) (212) (8) (24) 60 (959)
Operating profit .......................... 227 515 626 4 58 – 1,430
Share of profit in associates
and joint ventures ................... 62 43 190 – 21 – 316
Profit before tax .......................... 289 558 816 4 79 – 1,746
% % % % % %
Share of HSBC’s profit
before tax ................................ 3.1 6.0 8.9 – 0.8 18.8
Cost efficiency ratio ................... 53.2 32.0 24.9 66.7 29.6 35.9
Balance sheet data41
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 7,226 13,221 6,649 29 170 27,295
Total assets ................................. 8,168 14,672 27,975 46 5,754 (5,663) 50,952
Customer accounts ...................... 13,753 10,978 7,628 1,762 1,044 35,165