HSBC 2009 Annual Report Download - page 97

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Analysis by customer group and global business
Profit/(loss) before tax
2009
Europe
Personal
Financial
Services
US$m
Commercial
Banking
US$m
Global
Banking &
Markets
US$m
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination50
US$m
Total
US$m
Net interest income/(expense) .... 5,413 2,739 4,367 949 (525) (675) 12,268
Net fee income ............................ 1,949 1,679 1,670 883 86 – 6,267
Trading income excluding net
interest income ....................... 34 3 2,267 175 382 – 2,861
Net interest income/(expense)
on trading activities ................ (1) 17 1,869 23 15 675 2,598
Net trading income42 ................... 33 20 4,136 198 397 675 5,459
Changes in fair value of long-
term debt issued and related
derivatives .............................. – – – – (2,746) – (2,746)
Net income/(expense) from
other financial instruments
designated at fair value ........... 1,012 133 375 – (199) – 1,321
Net income/(expense) from
financial instruments
designated at fair value ........... 1,012 133 375 – (2,945) – (1,425)
Gains less losses from financial
investments ............................. 20 2 25 5 (2) – 50
Dividend income ......................... 2 1 26 3 (3) – 29
Net earned insurance premiums . 3,975 253 (2) – (3) – 4,223
Other operating income .............. 182 373 670 28 914 95 2,262
Total operating income/
(expense) ................................ 12,586 5,200 11,267 2,066 (2,081) 95 29,133
Net insurance claims43 ................ (5,221) (365) – – (3) – (5,589)
Net operating income/
(expense)16 ............................. 7,365 4,835 11,267 2,066 (2,084) 95 23,544
Loan impairment charges and
other credit risk provisions ..... (1,992) (1,267) (2,277) (29) (3) – (5,568)
Net operating income/
(expense) ................................ 5,373 3,568 8,990 2,037 (2,087) 95 17,976
Total operating expenses ............ (5,062) (2,294) (4,447) (1,183) (907) (95) (13,988)
Operating profit/(loss) .............. 311 1,274 4,543 854 (2,994) – 3,988
Share of profit in associates
and joint ventures ................... 1 18 2 – – – 21
Profit/(loss) before tax .............. 312 1,292 4,545 854 (2,994) – 4,009
% % % % % %
Share of HSBC’s profit
before tax ................................ 4.4 18.3 64.2 12.1 (42.3) 56.7
Cost efficiency ratio .................... 68.7 47.4 39.5 57.3 (43.5) 59.4
Balance sheet data41
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 147,760 89,084 176,123 25,541 973 439,481
Total assets .................................. 208,669 111,874 981,831 76,871 84,010 (194,655) 1,268,600
Customer accounts ...................... 165,161 102,249 169,390 58,213 6 495,019