HSBC 2001 Annual Report Download - page 243

241
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 2000
Interest receivable............................. 14,257 11,447 3,930 7,290 2,480 39,404
Interest payable................................. (9,269) (7,450) (2,563) (5,138) (1,261) (25,681)
Net interest income ........................... 4,988 3,997 1,367 2,152 1,219 13,723
Dividend income............................... 84 34 3 68 8 197
Fees and commissions receivable ..... 4,909 1,359 840 981 624 8,713
Fees and commissions payable ......... (809) (191) (130) (128) (144) (1,402)
Dealing profits .................................. 787 229 324 218 68 1,626
Other operating income..................... 951 359 48 178 397 1,933
Operating income.............................. 10,910 5,787 2,452 3,469 2,172 24,790
Operating expenses ........................... (6,866) (1,987) (1,297) (2,506) (1,648) (14,304)
Operating profit before provisions.... 4,044 3,800 1,155 963 524 10,486
Provisions for bad and doubtful
debts .............................................. (348) (248) 15 (147) (204) (932)
Provisions for contingent liabilities
and commitments .......................... (67) (10) 5 1
–
(71)
Amounts written off fixed asset
investments.................................... (23) (9) (3 ) – (1) (36)
Operating profit ................................ 3,606 3,533 1,172 817 319 9,447
Share of operating loss in joint
ventures ........................................ (51)
–
––
–
(51)
Share of operating (loss)/profit in
associates....................................... (45) 21 100 (2) 1 75
Gains on disposal of investments
and tangible fixed assets................ 148 137 (7) 35 (9) 304
Profit on ordinary activities before
tax.................................................. 3,658 3,691 1,265 850 311 9,775
* Included within profit on ordinary activities before tax and goodwill amortisation in Europe is US$169 million in relation to
businesses acquired during the year. Management estimates the contribution from acquisitions made at the end of 1999 to
profits on ordinary activities before tax, restructuring charges, costs of funding and goodwill amortised in the year, to be
US$850 million (of which approximately US$500 million is estimated to relate to Europe).