HSBC 2011 Annual Report Download - page 45

43
Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
Global businesses
Summary .......................................................................... 43
Products and services ...................................................... 44
Retail Banking and Wealth Management ........................ 46
Commercial Banking ....................................................... 48
Global Banking and Markets ........................................... 51
Global Private Banking ................................................... 54
Other ................................................................................ 55
Analysis by global business ............................................ 57
Summary
HSBC’s senior management reviews operating
activity on a number of bases, including by
geographical region and by global business, as
presented on page 59.
RBWM was previously known as Personal
Financial Services (‘PFS’). With effect from
1 March 2011, our Global Asset Management
business was moved from GB&M to RBWM.
This resulted in reallocations between the two of
US$321m and US$219m in profit before tax in
2010 and 2009, respectively, and in total assets of
US$3.3bn and US$2.8bn at the end of 2010 and
2009, respectively. The presentation of both years
has been adjusted accordingly.
The commentaries below present global
businesses followed by geographical regions.
Performance is discussed in this order because
certain strategic themes, business initiatives and
trends affect more than one geographical region.
All commentaries are on an underlying basis (see
page 16) unless stated otherwise.
Profit/(loss) before tax
2011 2010 2009
US$m % US$m % US$m %
Retail Banking and Wealth Management17 ............. 4,270 19.6 3,839 20.2 (1,846) (26.1)
Commercial Banking ............................................... 7,947 36.3 6,090 32.0 4,275 60.4
Global Banking and Markets17 ................................ 7,049 32.2 9,215 48.4 10,262 145
Global Private Banking ........................................... 944 4.3 1,054 5.5 1,108 15.6
Other48 ...................................................................... 1,662 7.6 (1,161) (6.1) (6,720) (94.9)
21,872 100.0 19,037 100.0 7,079 100.0
Total assets49
At 31 December
2011 2010
US$m % US$m %
Retail Banking and Wealth Management17 ............................................................ 540,548 21.2 530,970 21.6
Commercial Banking .............................................................................................. 334,966 13.1 296,797 12.1
Global Banking and Markets17 ............................................................................... 1,877,627 73.5 1,755,043 71.5
Global Private Banking .......................................................................................... 119,839 4.7 116,846 4.8
Other ....................................................................................................................... 180,126 7.0 161,458 6.6
Intra-HSBC items ................................................................................................... (497,527) (19.5) (406,425) (16.6)
2,555,579 100.0 2,454,689 100.0
Risk-weighted assets50
At 31 December
2011 2010
US$bn % US$bn %
Total ........................................................................................................................ 1,209.5 1,103.1
Retail Banking and Wealth Management17 ............................................................ 351.2 29.0 357.0 32.4
Commercial Banking .............................................................................................. 382.9 31.7 334.4 30.3
Global Banking and Markets17,51 ............................................................................ 423.0 35.0 353.2 32.0
Global Private Banking .......................................................................................... 22.5 1.9 24.9 2.3
Other ....................................................................................................................... 29.9 2.4 33.6 3.0
For footnotes, see page 95.