HSBC 2003 Annual Report Download - page 91

89
Profit before tax
Year ended 31 December
2003 2002 2001
Rest of Asia-Pacific (including the Middle East) US$m US$m US$m
Net interest income ............................................................................... 1,740 1,607 1,482
Dividend income .................................................................................... 433
Net fees and commissions ...................................................................... 805 724 681
Dealing profits ........................................................................................ 421 364 395
Other income .......................................................................................... 120 83 58
Other operating income .......................................................................... 1,350 1,174 1,137
Total operating income ........................................................................ 3,090 2,781 2,619
Staff costs ............................................................................................... (952
)
(826
)
(771
)
Premises and equipment ......................................................................... (164
)
(156
)
(143
)
Other ...................................................................................................... (527
)
(454
)
(401
)
Depreciation and intangible asset amortisation ....................................... (98
)
(92
)
(82
)
(1,741
)
(1,528
)
(1,397
)
Goodwill amortisation ............................................................................ (35
)
(33
)
(8
)
Operating expenses ................................................................................. (1,776
)
(1,561
)
(1,405
)
Operating profit before provisions ...................................................... 1,314 1,220 1,214
Provisions for bad and doubtful debts .................................................... (85
)
(89
)
(172
)
Provisions for contingent liabilities and commitments ........................... (1
)
18 (43
)
Amounts written off fixed asset investments .......................................... (2
)
(2
)
(11
)
Operating profit .................................................................................... 1,226 1,147 988
Share of operating loss in joint ventures ................................................. ––(5
)
Share of operating profit in associates .................................................... 149 113 99
Gains on disposal of investments and tangible fixed assets .................... 16 –6
Profit on ordinary activities before tax ............................................... 1,391 1,260 1,088
%%%
Share of HSBC’ s pre-tax profits (excluding goodwill amortisation) ...... 9.9 12.3 12.4
Share of HSBC’s pre-tax profits ............................................................. 10.9 13.1 13.6
Cost:income ratio (excluding goodwill amortisation) ............................. 56.3 54.9 53.3
Period-end staff numbers (full-time equivalent) ..................................... 31,827 28,630 26,259
US$m US$m US$m
Selected balance sheet data1
Loans and advances to customers (net) .................................................. 47,952 37,078 30,666
Loans and advances to banks (net) ......................................................... 12,944 10,708 11,253
Debt securities, treasury bills and other eligible bills ............................. 25,980 21,622 13,623
Total assets ............................................................................................ 98,081 76,635 62,355
Deposits by banks ................................................................................... 6,967 5,362 4,010
Customer accounts ................................................................................. 65,441 54,172 45,498
1Third party only.