HSBC 2011 Annual Report Download - page 59

57
Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
Analysis by global business
HSBC profit/(loss) before tax and balance sheet data
2011
Retail
Banking
and Wealth
Management
US$m
Commercial
Banking
US$m
Global
Banking
and
Markets
US$m
Global
Private
Banking
US$m
Other48
US$m
Inter-
segment
elimination64
US$m
Total
US$m
Profit before tax
Net interest income/(expense) .... 24,101 9,931 7,263 1,439 (911) (1,161) 40,662
Net fee income ............................ 8,226 4,291 3,227 1,382 34 – 17,160
Trading income/(expense)
excluding net interest
income .................................... (562) 565 3,306 415 (441) – 3,283
Net interest income on
trading activities ..................... 43 19 1,898 16 86 1,161 3,223
Net trading income/(expense)56 .. (519) 584 5,204 431 (355) 1,161 6,506
Changes in fair value of long-
term debt issued and related
derivatives .............................. – – – – 4,161 – 4,161
Net income/(expense) from
other financial instruments
designated at fair value ........... (761) 33 (72) –78 – (722)
Net income/(expense) from
financial instruments
designated at fair value ........... (761) 33 (72) – 4,239 – 3,439
Gains less losses from
financial investments .............. 124 20 761 3 (1) – 907
Dividend income ......................... 27 15 75 7 25 – 149
Net earned insurance premiums . 10,882 1,956 47 – (13) – 12,872
Other operating income .............. 907 483 577 30 6,127 (6,358) 1,766
Total operating income ............ 42,987 17,313 17,082 3,292 9,145 (6,358) 83,461
Net insurance claims65 ................ (9,454) (1,702) (25) – – – (11,181)
Net operating income52 ............. 33,533 15,611 17,057 3,292 9,145 (6,358) 72,280
Loan impairment charges and
other credit risk provisions ..... (9,319) (1,738) (984) (86) – – (12,127)
Net operating income ............... 24,214 13,873 16,073 3,206 9,145 (6,358) 60,153
Employee expenses66 ................... (6,538) (2,184) (4,196) (1,351) (6,897) – (21,166)
Other operating expenses ........... (14,664) (5,037) (5,526) (915) (595) 6,358 (20,379)
Total operating expenses ............ (21,202) (7,221) (9,722) (2,266) (7,492) 6,358 (41,545)
Operating profit ........................ 3,012 6,652 6,351 940 1,653 – 18,608
Share of profit in associates
and joint ventures ................... 1,258 1,295 698 4 9 – 3,264
Profit before tax ........................ 4,270 7,947 7,049 944 1,662 – 21,872
% % % % % %
Share of HSBC’s profit
before tax ................................ 19.6 36.3 32.2 4.3 7.6 100.0
Cost efficiency ratio ................... 63.2 46.3 57.0 68.8 81.9 57.5
Balance sheet data49
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 357,907 262,039 276,463 41,856 2,164 940,429
Total assets ................................. 540,548 334,966 1,877,627 119,839 180,126 (497,527) 2,555,579
Customer accounts ...................... 529,017 306,174 306,454 111,814 466 1,253,925