HSBC 2003 Annual Report Download - page 266

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
264
17 Provisions for bad and doubtful debts
Provisions against advances
Specific General Total
Suspended
interest
US$m US$m US$m US$m
At 1 January 2003 ............................................................... 6,629 2,511 9,140 566
Amounts written off ............................................................ (7,456
)
– (7,456
)
(147
)
Recoveries of advances written off in previous years ......... 610 – 610 –
Charge/(credit) to profit and loss account ........................... 6,214 (121
)
6,093 –
Interest suspended during the year ...................................... –––240
Suspended interest recovered .............................................. –––(182
)
Acquisition of subsidiaries .................................................. 4,269 500 4,769 –
Exchange and other movements .......................................... 636 (77
)
559 133
At 31 December 2003 ........................................................ 10,902 2,813 13,715 610
Included in:
Loans and advances to banks (Note 15) .......................... 24
Loans and advances to customers (Note 16) ................... 13,691
13,715
Provisions against advances
Specific General Total
Suspended
interest
US$m US$m US$m US$m
At 1 January 2002 ............................................................... 5,522 2,661 8,183 861
Amounts written off ............................................................ (2,111
)
– (2,111
)
(327
)
Recoveries of advances written off in previous years .......... 180 – 180 –
Charge/(credit) to profit and loss account ........................... 1,672 (351
)
1,321 –
Interest suspended during the year ...................................... – – – 426
Suspended interest recovered .............................................. – – – (214
)
Acquisition of subsidiaries .................................................. 1,278 426 1,704 –
Exchange and other movements .......................................... 88 (225
)
(137
)
(180
)
At 31 December 2002 ......................................................... 6,629 2,511 9,140 566
Included in:
Loans and advances to banks (Note 15) .......................... 23
Loans and advances to customers (Note 16) ................... 9,117
9,140
Provisions against advances
Specific General Total
Suspended
interest
US$m US$m US$m US$m
At 1 January 2001 ............................................................... 6,095 2,102 8,197 1,016
Amounts written off ............................................................ (2,178) – (2,178
)
(437
)
Recoveries of advances written off in previous years .......... 285 – 285 –
Charge to profit and loss account ........................................ 1,464 57312,037 –
Interest suspended during the year ...................................... – – – 542
Suspended interest recovered .............................................. – – – (228
)
Acquisition of subsidiaries .................................................. – 7 7 –
Exchange and other movements .......................................... (144) (21) (165
)
(32
)
At 31 December 2001 ......................................................... 5,522 2,661 8,183 861
Included in:
Loans and advances to banks .......................................... 22
Loans and advances to customers ................................... 8,161
8,183
1 Includes an additional general provision of US$600 million for Argentinian exposures