HSBC 2015 Annual Report Download - page 92

Report of the Directors: Geographical regions (continued)
North America
HSBC HOLDINGS PLC
90
Profit/(loss) before tax and balance sheet data – North America
2015
Retail
Banking
and Wealth
Management
$m
Commercial
Banking
$m
Global
Banking and
Markets
$m
Global
Private
Banking
$m
Other
$m
Inter-
segment
elimination44
$m
Total
$m
Profit/(loss) before tax
Net interest income 2,188 1,365 771 206 31 (29) 4,532
Net fee income/(expense) 499 539 876 117 (13) − 2,018
Trading income/(expense) excluding
net interest income 12 33 188 11 (7) − 237
Net interest income on trading
activities 7 1 271 − − 29 308
Net trading income/(expense)40 19 34 459 11 (7) 29 545
Changes in fair value of long-term debt
issued and related derivatives − − − − 181 − 181
Net income from other financial
instruments designated at
fair value − − − − − − −
Net expense from financial instruments
designated at fair value − − − − 181 − 181
Gains less losses from financial
investments − − 189 − (42) − 147
Dividend income 16 12 19 46 − 57
Net insurance premium income − − − − − − −
Other operating income (142) 53 76 (6) 1,804 (1,608) 177
Total operating income 2,580 2,003 2,390 332 1,960 (1,608) 7,657
Net insurance claims45 − − − − − − −
Net operating income1 2,580 2,003 2,390 332 1,960 (1,608) 7,657
Loan impairment (charges)/recoveries
and other credit risk provisions (159) (323) (68) 6 − − (544)
Net operating income 2,421 1,680 2,322 338 1,960 (1,608) 7,113
Total operating expenses (3,066) (1,109) (1,729) (279) (1,926) 1,608 (6,501)
Operating profit/(loss) (645) 571 593 59 34 − 612
Share of profit in associates
and joint ventures − 2 − − − − 2
Profit/(loss) before tax (645) 573 593 59 34 − 614
% %%%% %
Share of HSBC’s profit before tax (3.4) 3.0 3.1 0.3 0.3 3.3
Cost efficiency ratio 118.8 55.4 72.3 84.0 98.3 84.9
Balance sheet data30
$m $m $m $m $m $m
Loans and advances to customers (net) 53,737 40,696 27,940 6,478 − 128,851
Total assets 62,127 47,009 282,201 8,629 14,489 (20,495) 393,960
Customer accounts 51,685 45,475 24,182 13,807 3 135,152