HSBC 2015 Annual Report Download - page 82

Report of the Directors: Geographical regions (continued)
Europe
HSBC HOLDINGS PLC
80
Profit/(loss) before tax and balance sheet data – Europe
2015
Retail
Banking
and Wealth
Management
$m
Commercial
Banking
$m
Global
Banking and
Markets
$m
Global
Private
Banking
$m
Other
$m
Inter-
segment
elimination44
$m
Total
$m
Profit/(loss) before tax
Net interest income/(expense) 5,128 3,433 1,848 471 (689) (186) 10,005
Net fee income/(expense) 1,880 1,683 849 509 (30) − 4,891
Trading income/(expense) excluding
net interest income
103 35 3,270 186 (203) − 3,391
Net interest income/(expense)
on trading activities
(3) (6) 493 (3) 2 186 669
Net trading income/(expense)40 100 29 3,763 183 (201) 186 4,060
Changes in fair value of long-term debt
issued and related derivatives
− − − − 671 − 671
Net income/(expense) from other
financial instruments designated at
fair value
446 6 (70) − 47 − 429
Net income/(expense) from financial
instruments designated at fair value
446 6 (70) − 718 − 1,100
Gains less losses from financial
investments
12 8 231 23 − − 274
Dividend income − 1 12 72 − 22
Net insurance premium income 2,295 135 −42 − − 2,472
Other operating income 360 761 71,229 (312) 1,352
Total operating income 10,221 5,302 6,694 1,242 1,029 (312) 24,176
Net insurance claims45 (2,918) (139) −(61) − − (3,118)
Net operating income1 7,303 5,163 6,694 1,181 1,029 (312) 21,058
Loan impairment (charges)/recoveries
and other credit risk provisions
(260) (475) 62 (18) 1 − (690)
Net operating income 7,043 4,688 6,756 1,163 1,030 (312) 20,368
Total operating expenses (5,851) (2,368) (5,715) (1,149) (4,962) 312 (19,733)
Operating profit/(loss) 1,192 2,320 1,041 14 (3,932) − 635
Share of profit/(loss) in associates
and joint ventures
2 (1) 7 − − − 8
Profit/(loss) before tax 1,194 2,319 1,048 14 (3,932) − 643
% % % % % %
Share of HSBC’s profit before tax 6.3 12.3 5.6 0.1 (20.9) 3.4
Cost efficiency ratio 80.1 45.9 85.4 97.3 482.2 93.7
Balance sheet data30
$m $m $m $m $m $m
Loans and advances to customers (net) 156,156 110,617 101,568 23,273 427 392,041
Total assets 205,866 124,105 804,373 56,470 57,943 (119,392) 1,129,365
Customer accounts 200,437 132,928 126,225 37,810 476 497,876