HSBC 2010 Annual Report Download - page 50

HSBC HOLDINGS PLC
Report of the Directors: Operating and Financial Review (continued)
Customer groups and global businesses > Analysis
48
Analysis by customer group and global business
HSBC profit/(loss) before tax and balance sheet data
2010
Personal
Financial
Services
US$m
Commercial
Banking
US$m
Global
Banking &
Markets
US$m
Global
Private
Banking
US$m
Other44
US$m
Inter-
segment
elimination56
US$m
Total
US$m
Profit/(loss) before tax
Net interest income/(expense) .... 24,161 8,487 7,348 1,345 (998) (902) 39,441
Net fee income ............................ 7,336 3,964 4,725 1,299 31 – 17,355
Trading income/(expense)
excluding net interest
income .................................... (107) 427 4,327 391 (358) – 4,680
Net interest income on
trading activities ..................... 28 28 1,504 21 47 902 2,530
Net trading income/(expense)49 .. (79) 455 5,831 412 (311) 902 7,210
Changes in fair value of long-
term debt issued and related
derivatives .............................. – – – – (258) – (258)
Net income from other
financial instruments
designated at fair value ........... 1,210 190 36 –42 – 1,478
Net income/(expense) from
financial instruments
designated at fair value ........... 1,210 190 36 – (216) – 1,220
Gains less losses from
financial investments .............. 42 (1) 797 (6) 136 – 968
Dividend income ......................... 27 12 48 5 20 – 112
Net earned insurance premiums . 9,737 1,379 41 – (11) – 11,146
Other operating income .............. 650 585 1,147 38 6,005 (5,863) 2,562
Total operating income ............ 43,084 15,071 19,973 3,093 4,656 (5,863) 80,014
Net insurance claims57 ................ (10,508) (1,237) (26) – 4 – (11,767)
Net operating income46 ............. 32,576 13,834 19,947 3,093 4,660 (5,863) 68,247
Loan impairment (charges)/
recoveries and other credit
risk provisions ........................ (11,259) (1,805) (990) 12 3 – (14,039)
Net operating income ............... 21,317 12,029 18,957 3,105 4,663 (5,863) 54,208
Employee expenses58 .................. (5,388) (2,153) (4,735) (1,237) (6,323) – (19,836)
Other operating expenses ........... (13,417) (4,678) (5,227) (798) 405 5,863 (17,852)
Total operating expenses ............ (18,805) (6,831) (9,962) (2,035) (5,918) 5,863 (37,688)
Operating profit/(loss) .............. 2,512 5,198 8,995 1,070 (1,255) – 16,520
Share of profit/(loss) in
associates and joint ventures .. 1,006 892 541 (16) 94 – 2,517
Profit/(loss) before tax .............. 3,518 6,090 9,536 1,054 (1,161) – 19,037
% % % %
%
%
Share of HSBC’s profit
before tax ................................ 18.5 32.0 50.1 5.5 (6.1) 100.0
Cost efficiency ratio ................... 57.7 49.4 49.9 65.8 127.0 55.2
Balance sheet data45
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 390,957 239,286 284,503 40,665 2,955 958,366
Total assets ................................. 527,698 296,797 1,758,315 116,846 161,458 (406,425) 2,454,689
Customer accounts ...................... 525,184 286,007 308,453 107,130 951 1,227,725