HSBC 2002 Annual Report Download - page 232

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
230
(c) The associates listed above have no loan capital, except for British Arab Commercial Bank Limited which has
issued US$44.5 million of subordinated unsecured loan stock in which HSBC has a 34.66 per cent interest;
Barrowgate Limited which has HK$845 million of loan capital in which HSBC has a 25 per cent interest; and
The Cyprus Popular Bank Limited which has issued C£21.7 million of convertible debentures in which HSBC
has a 30.1 per cent interest. HSBC also has a 100 per cent interest in the issued preferred stock (less than US$1
million) of Wells Fargo HSBC Trade Bank, N.A. HSBC has a 40 per cent economic interest in Wells Fargo
HSBC Trade Bank, N.A. by virtue of the joint agreement under which HSBC’ s equity capital and preferred
stock interests are held.
23 Other participating interests
2002 2001
US$m US$m
Listed other than on a recognised UK exchange or in Hong Kong............................. 3
–
Unlisted....................................................................................................................... 648 120
651 120
Market value of listed securities ................................................................................. 22 1
Other participating interests in banks.......................................................................... 191
Cos
t
Provisions Carryin
g
value
US$m US$m US$m
At 1 January 2002........................................................................... 164 (44) 120
Additions ........................................................................................ 628
–
628
Disposals......................................................................................... (95)
–
(95)
Provisions made..............................................................................
–
(9) (9)
Exchange and other movements ..................................................... 7
–
7
At 31 December 2002.................................................................... 704 (53) 651