HSBC 2001 Annual Report Download - page 242
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HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
240
Profit on ordinary activities before tax:
Europe
H
on
g
K
on
g
R
est o
f
Asia-
Pacific North
America Latin
America Tota
l
US$m US$m US$m US$m US$m US$m
Year ended 31 December 2001
Interest receivable............................. 14,508 8,971 3,612 6,853 2,453 36,397
Interest payable................................. (8,945) (4,806) (2,130) (4,451) (1,340) (21,672)
Net interest income ........................... 5,563 4,165 1,482 2,402 1,113 14,725
Dividend income............................... 116 26 3 29 12 186
Fees and commissions receivable ..... 5,013 1,358 810 1,052 640 8,873
Fees and commissions payable ......... (803) (186) (129) (154) (131) (1,403)
Dealing profits .................................. 708 218 395 324 40 1,685
Other operating income .................... 1,022 436 58 205 358 2,079
Operating income.............................. 11,619 6,017 2,619 3,858 2,032 26,145
Operating expenses........................... (7,920) (2,140) (1,405) (2,630) (1,566) (15,661)
Operating profit before provisions.... 3,699 3,877 1,214 1,228 466 10,484
Provisions for bad and doubtful
debts .............................................. (441) (197) (172) (287) (940) (2,037)
Provisions for contingent liabilities
and commitments .......................... (30) 6 (43) (582)
–
(649)
Loss from foreign currency
redenomination in Argentina......... –
–
––(520) (520)
Amounts written off fixed asset
investments.................................... (90 ) (18) (11) (5) (1) (125 )
Operating profit/(loss)....................... 3,138 3,668 988 354 (995) 7,153
Share of operating loss in joint
ventures ........................................ (79)
–
(5) (7)
–
(91)
Share of operating profit in
associates....................................... 42 17 99 5 1 164
Gains on disposal of investments
and tangible fixed assets................ 441 198 6 129
–
774
Profit/(loss) on ordinary activities
before tax....................................... 3,542 3,883 1,088 481 (994) 8,000