HSBC 2011 Annual Report Download - page 3

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Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
Who we are and what we do
HSBC is one of the world’s largest banking and financial services organisations. With
around 7,200 offices in both established and faster-growing markets, we aim to be
where the growth is, connecting customers to opportunities, enabling businesses to
thrive and economies to prosper, and ultimately helping people to fulfil their hopes
and realise their ambitions.
We serve around 89 million customers through our four global businesses: Retail
Banking and Wealth Management, Commercial Banking, Global Banking and Markets,
and Global Private Banking. Our network covers 85 countries and territories in six
geographical regions: Europe, Hong Kong, Rest of Asia-Pacific, Middle East and North
Africa, North America and Latin America. Our aim is to be acknowledged as the
world’s leading international bank.
Listed on the London, Hong Kong, New York, Paris and Bermuda stock exchanges,
shares in HSBC Holdings plc are held by over 220,000 shareholders in 132 countries
and territories.
Highlights
• Profit before tax up 15% to US$21.9bn on a reported basis.
• Underlying pre-tax profit down 6% to US$17.7bn.
• Launched strategy to reshape the Group, improve returns and position for growth.
• Strong performance in faster-growing regions, with revenue up 12% in Hong Kong, Rest of
Asia-Pacific, Latin America and the Middle East and North Africa.
• Record year in Commercial Banking with profit before tax of US$7.9bn, up 31%.
• Achieved sustainable cost savings of US$0.9bn with a strong pipeline of further savings.
• Dividends declared in respect of 2011 US$7.3bn or US$0.41 per ordinary share, up 14% on
2010.
• Core tier 1 capital ratio 10.1%, down from 10.5% in 2010, largely reflecting the introduction of
Basel 2.5.
Cover image
A Chinese ship in Brazil’s largest port, Santos, illustrates the growing trade links between the two countries.
China is today Brazil’s largest trading partner, with HSBC financing an increasing share of that trade.