HSBC 2012 Annual Report Download - page 94

HSBC HOLDINGS PLC
Report of the Directors: Operating and Financial Review (continued)
Geographical regions > Hong Kong / Rest of Asia-Pacific
92
Profit/(loss) before tax and balance sheet data – Hong Kong (continued)
2011
Retail
Banking
and Wealth
Management
US$m
Commercial
Banking
US$m
Global
Banking
and
Markets
US$m
Global
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination85
US$m
Total
US$m
Profit/(loss) before tax
Net interest income/(expense) .... 2,571 1,317 1,051 173 (464) 43 4,691
Net fee income ............................ 1,741 706 475 160 15 – 3,097
Trading income/(expense)
excluding net interest
income .................................... 120 169 652 135 (116) – 960
Net interest income on
trading activities ..................... 9 1 246 – 16 (43) 229
Net trading income/(expense)78 .. 129 170 898 135 (100) (43) 1,189
Changes in fair value of long-
term debt issued and related
derivatives .............................. – – – – – – –
Net income/(expense) from
other financial instruments
designated at fair value ........... (475) (72) (5) – 15 – (537)
Net income/(expense) from
financial instruments
designated at fair value ........... (475) (72) (5) – 15 – (537)
Gains less losses from
financial investments .............. 3 10 21 – (10) – 24
Dividend income ......................... – 1 14 – 24 – 39
Net earned insurance premiums . 4,317 758 13 – – – 5,088
Other operating income .............. 505 175 79 8 1,185 (268) 1,684
Total operating income ............... 8,791 3,065 2,546 476 665 (268) 15,275
Net insurance claims86 ................ (3,887) (697) (9) – – – (4,593)
Net operating income21 ............... 4,904 2,368 2,537 476 665 (268) 10,682
Loan impairment (charges)/
recoveries and other credit
risk provisions ........................ (77) (66) 23 (36) – – (156)
Net operating income ................. 4,827 2,302 2,560 440 665 (268) 10,526
Total operating expenses ............ (1,811) (703) (1,248) (252) (1,012) 268 (4,758)
Operating profit/(loss) ................ 3,016 1,599 1,312 188 (347) – 5,768
Share of profit in associates
and joint ventures ................... 6 9 4 – 36 – 55
Profit/(loss) before tax ................ 3,022 1,608 1,316 188 (311) – 5,823
% % % % % %
Share of HSBC’s profit
before tax ................................ 13.8 7.3 6.0 0.9 (1.4) 26.6
Cost efficiency ratio ................... 36.9 29.7 49.2 52.9 152.2 44.5
Balance sheet data74
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 56,296 54,986 39,667 5,447 1,269 157,665
Total assets ................................. 85,866 63,516 238,892 20,680 84,782 (20,712) 473,024
Customer accounts ...................... 181,316 79,225 35,283 19,622 (101) 315,345
For footnotes, see page 120.