HSBC 2015 Annual Report Download - page 88

Report of the Directors: Geographical regions (continued)
Middle East and North Africa
HSBC HOLDINGS PLC
86
Middle East and North Africa
The network of branches of HSBC Bank
Middle East Limited, together with HSBC’s
subsidiaries and associates, gives us wide
coverage in the region. Our associate in
Saudi Arabia, The Saudi British Bank (40%
owned), is the Kingdom’s fifth largest bank
by total assets.
2015 2014 2013
$m $m $m
Net interest income 1,531 1,519 1,486
Net fee income 633 650 622
Net trading income 325 314 357
Other income 76 65 38
Net operating income1 2,565 2,548 2,503
LICs34 (299) 6 42
Net operating income 2,266 2,554 2,545
Total operating expenses (1,234) (1,216) (1,289)
Operating profit 1,032 1,338 1,256
Income from associates35 505 488 438
Profit before tax 1,537 1,826 1,694
Cost efficiency ratio 48.1% 47.7% 51.5%
RoRWA24 2.5% 2.9% 2.7%
Year-end staff numbers 8,066 8,305 8,618
For footnotes, see page 99.
Country view of adjusted revenue
2015 2014
$m $m
Egypt 610 493
United
A
rab Emirates 1,407 1,446
Other 538 556
Year ended 31 December 2,555 2,495
Profit before tax ($m)
Revenue ($m)
Operating expenses ($m)
For details of significant items, see page 77.
Profit/(loss) before tax by country within global businesses
Retail
Banking
and Wealth
Management
$m
Commercial
Banking
$m
Global
Banking and
Markets
$m
Global
Private
Banking
$m
Other
$m
Total
$m
Egypt 50 101 256 − 3 410
United Arab Emirates 91 19 292 − (35) 367
Saudi Arabia 112 169 202 16 1 500
Other 19 119 123 − (1) 260
Year ended 31 December 2015 272 408 873 16 (32) 1,537
Egypt 64 94 177 − − 335
United Arab Emirates 154 190 364 − (46) 662
Saudi Arabia 91 168 203 19 5 486
Other 14 152 182 − (5) 343
Year ended 31 December 2014 323 604 926 19 (46) 1,826
Egypt 31 37 166 −(29) 205
United Arab Emirates 142 290 275 1 (72) 636
Saudi Arabia 82 146 188 15 7 438
Other 3 172 240 − − 415
Year ended 31 December 2013 258 645 869 16 (94) 1,694
1,537
1,826
51,542 (34)
28 1,820
2015 2014
2,565 2,548
(10)
2,555
(50) (3)
2,495
2015 2014
1,234 1,216
(15)
1,219
(16) (33)
1,167
2015 2014
Reported Currency translation Adjusted
Significant items