HSBC 2002 Annual Report Download - page 279

277
Profit on ordinary activities before tax:
Europe Hong Kong Rest of
Asia-Pacific North America South America
Intra-
HSBC
items Total
US$m US$m US$m US$m US$m US$m US$m
Year ended 31 December 2002
Interest receivable ............................. 12,646 5,968 3,174 5,796 1,751 (740 ) 28,595
Interest payable ................................. (6,303) (1,835) (1,567 ) (3,064 ) (1,106 ) 740 (13,135 )
Net interest income ........................... 6,343 4,133 1,607 2,732 645 – 15,460
Dividend income............................... 211 25 3 24 15 – 278
Fees and commissions receivable...... 5,397 1,449 897 1,205 417 (120) 9,245
Fees and commissions payable.......... (869) (185) (173) (221) (93) 120 (1,421)
Dealing profits .................................. 508 133 364 161 147 – 1,313
Other operating income..................... 1,025 495 83 333 110 (326) 1,720
Operating income.............................. 12,615 6,050 2,781 4,234 1,241 (326 ) 26,595
Operating expenses ........................... (8,529 ) (2,139 ) (1,561 ) (2,821 ) (1,084 ) 326 (15,808 )
Operating profit before provisions .... 4,086 3,911 1,220 1,413 157 – 10,787
Provisions for bad and doubtful debts (569 ) (246) (89 ) (300 ) (117) – (1,321)
Provisions for contingent liabilities
and commitments.......................... (15) (14) 18 3 (31) – (39)
Loss from foreign currency
redenomination in Argentina......... –– ––(68)–(68)
Amounts written off fixed asset
investments ................................... (267)(10) (2) (9)(36) –(324)
Operating profit/(loss)....................... 3,235 3,641 1,147 1,107 (95) – 9,035
Share of operating loss in joint
ventures ........................................ (26 ) – – (2 ) – – (28)
Share of operating profit in associates 3111138––135
Gains on disposal of investments and
tangible fixed assets...................... 288 58 – 125 37 – 508
Profit/(loss) on ordinary activities
before tax ...................................... 3,500 3,710 1,260 1,238 (58) – 9,650