HSBC 2011 Annual Report Download - page 78

HSBC HOLDINGS PLC
Report of the Directors: Operating and Financial Review (continued)
Geographical regions > Rest of Asia-Pacific / Middle East and North Africa
76
Profit before tax and balance sheet data – Rest of Asia-Pacific (continued)
2010
Retail
Banking
and Wealth
Manage-
ment17
US$m
Commercial
Banking
US$m
Global
Banking
and
Markets17
US$m
Global
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination64
US$m
Total
US$m
Profit before tax
Net interest income ..................... 1,581 938 1,435 91 55 (272) 3,828
Net fee income/(expense) ........... 834 442 611 55 (10) – 1,932
Trading income/(expense)
excluding net interest income . 80 129 967 69 (38) – 1,207
Net interest income on
trading activities ..................... – – 138 – 1 272 411
Net trading income/(expense)56 .. 80 129 1,105 69 (37) 272 1,618
Changes in fair value of long-
term debt issued and related
derivatives .............................. – – – – (2) – (2)
Net income/(expense) from
other financial instruments
designated at fair value ........... 41 2 (1) – (16) – 26
Net income/(expense) from
financial instruments
designated at fair value ........... 41 2 (1) – (18) – 24
Gains less losses from
financial investments .............. – 3 51 – 92 – 146
Dividend income ......................... – – 1 – – – 1
Net earned insurance premiums . 386 62 – – – – 448
Other operating income .............. 109 86 55 1 1,499 (152) 1,598
Total operating income ............... 3,031 1,662 3,257 216 1,581 (152) 9,595
Net insurance claims65 ................ (324) (39) – – – – (363)
Net operating income52 ............... 2,707 1,623 3,257 216 1,581 (152) 9,232
Loan impairment charges and
other credit risk provisions ..... (298) (19) (122) – – – (439)
Net operating income ................. 2,409 1,604 3,135 216 1,581 (152) 8,793
Total operating expenses ............ (2,233) (799) (1,094) (135) (1,034) 152 (5,143)
Operating profit .......................... 176 805 2,041 81 547 – 3,650
Share of profit in associates
and joint ventures ................... 986 751 447 – 68 – 2,252
Profit before tax .......................... 1,162 1,556 2,488 81 615 – 5,902
% % % % % %
Share of HSBC’s profit
before tax ................................ 6.1 8.2 13.1 0.4 3.2 31.0
Cost efficiency ratio ................... 82.5 49.2 33.6 62.5 65.4 55.7
Balance sheet data49
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 37,831 31,423 35,810 3,489 178 108,731
Total assets ................................. 49,758 41,588 166,710 12,126 19,450 (11,570) 278,062
Customer accounts ...................... 54,741 36,943 53,752 12,620 99 158,155
For footnotes, see page 95.