HSBC 2012 Annual Report Download - page 55

53
Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
Summary income statements for disposals, held for sale and run-off portfolios69,70
2012
Held Run-off portfolios
Card and
Retail
Services
US$m
Ping An
US$m
Other
disposals
US$m
for sale
excluding
US CML
US$m
US CML
and other71
US$m
Legacy
credit in
GB&M
US$m
Net interest income/(expense) ............................ 1,267 – 352 303 2,561 (28)
Net fee income/(expense) ................................... 395 – 13 (35) 33 (17)
Net trading income/(expense) ............................ – – 67 22 (226) 99
Net income/(expense) from financial instruments
designated at fair value .................................. – – 3 5 (785) 10
Gains less losses from financial investments ..... – – 8 27 – (72)
Dividend income ................................................. – – – – 3 –
Net earned insurance premiums ......................... – – 430 315 – –
Other operating income/(expense) ..................... 7 – 10 5 37 (3)
Total operating income/(expense) ................... 1,669 – 883 642 1,623 (11)
Net insurance claims incurred and movement in
liabilities to policyholders ............................. – – (218) (225) – –
Net operating income/(expense)21..................... 1,669 – 665 417 1,623 (11)
Loan impairment charges and other
credit risk provisions ..................................... (322) – (16) (77) (2,569) (168)
Net operating income/(expense) ...................... 1,347 – 649 340 (946) (179)
Total operating expenses .................................... (729) – (467) (344) (1,106) (101)
Operating profit/(loss) ...................................... 618 – 182 (4) (2,052) (280)
Share of profit in associates and joint ventures .. – 763 12 9 2 –
Profit/(loss) before tax ...................................... 618 763 194 5 (2,050) (280)
By global business
Retail Banking and Wealth Management .......... 618 622 99 (29) (1,274) –
Commercial Banking .......................................... – 82 40 24 9 –
Global Banking and Markets .............................. – 59 65 28 – (280)
Global Private Banking ...................................... – – (9) – – –
Other ................................................................... – – (1) (18) (785) –
Profit/(loss) before tax ........................................ 618 763 194 5 (2,050) (280)
By geographical region
Europe ................................................................. – – (1) – – (281)
Hong Kong ......................................................... – – 45 – – 1
Rest of Asia-Pacific ............................................ – 763 (31) 22 – (2)
Middle East and North Africa ............................ – – 46 – – –
North America .................................................... 618 – 25 (25) (2,050) 2
Latin America ..................................................... – – 110 8 – –
Profit/(loss) before tax ........................................ 618 763 194 5 (2,050) (280)
Other information
Gain on sale ........................................................ 3,148 3,012 1,579
Fixed allocated costs included in total operating
expenses .......................................................... 188 – 77 52 230 –
US$bn US$bn US$bn US$bn US$bn US$bn
Reduction in RWAs on disposal72 ...................... 39.3 24.9 7.5 8.8
RWAs72 ............................................................... 9.3 107.1 38.6
% % % % % %
Share of HSBC’s profit before tax ..................... 3.0 3.7 0.9 – (10.0) (1.4)
Cost efficiency ratio ........................................... 43.7 – 70.2 82.5 68.1 –
For footnotes, see page 120.