HSBC 2003 Annual Report Download - page 100

HSBC HOLDINGS PLC
Financial Review (continued)
98
Profit before tax
Year ended 31 December
2003 2002 2001
Total Household
1
Rest of
HSBC
North America US$m US$m US$m US$m US$m
Net interest income ......................................... 11,777 7,867 3,910 2,732 2,450
Dividend income .............................................. 34 12 22 24 29
Net fees and commissions ................................ 2,676 1,167 1,509 984 913
Dealing profits .................................................. 340 – 340 161 346
Other income .................................................... 932 501 431 333 207
Other operating income .................................... 3,982 1,680 2,302 1,502 1,495
Total operating income .................................. 15,759 9,547 6,212 4,234 3,945
Staff costs ......................................................... (3,723
)
(1,648
)
(2,075
)
(1,537
)
(1,440
)
Premises and equipment ................................... (745
)
(243
)
(502
)
(356
)
(323
)
Other ................................................................ (2,241
)
(1,133
)
(1,108
)
(651
)
(653
)
Depreciation and intangible asset amortisation.. (238
)
(83
)
(155
)
(131
)
(124
)
(6,947
)
(3,107
)
(3,840
)
(2,675
)
(2,540
)
Goodwill amortisation ...................................... (643
)
(358
)
(285
)
(146
)
(145
)
Operating expenses ........................................... (7,590
)
(3,465
)
(4,125
)
(2,821
)
(2,685
)
Operating profit before provisions ................ 8,169 6,082 2,087 1,413 1,260
Provisions for bad and doubtful debts .............. (4,676
)
(4,395
)
(281
)
(300
)
(300
)
Provisions for contingent liabilities and
commitments ................................................. 3–33(582
)
Amounts written off fixed asset investments .... (9
)
–(9
)
(9
)
(5
)
Operating profit .............................................. 3,487 1,687 1,800 1,107 373
Share of operating profit/(loss) in joint
ventures ......................................................... 11 – 11 (2
)
(7
)
Share of operating profit in associates .............. 6–685
Gains on disposal of investments and
tangible fixed assets ....................................... 109 6 103 125 132
Profit on ordinary activities before tax ......... 3,613 1,693 1,920 1,238 503
%%% %%
Share of HSBC’ s pre-tax profits (excluding
goodwill amortisation) ................................... 29.6 14.3 15.3 13.2 7.4
Share of HSBC’s pre-tax profits ....................... 28.2 13.2 15.0 12.8 6.3
Cost:income ratio (excluding goodwill
amortisation)................................................... 44.1 32.5 61.8 63.2 64.4
Period-end staff numbers (full-time equivalent) 65,021 28,872 36,149 34,207 19,291
US$m US$m US$m US$m US$m
Selected balance sheet data2
Loans and advances to customers (net) ............. 191,450 108,124 83,326 77,589 73,088
Loans and advances to banks (net) ................... 11,884 – 11,884 10,391 7,979
Debt securities, treasury bills and other
eligible bills ................................................... 49,168 8,633 40,535 39,270 45,661
Total assets ....................................................... 289,800 136,727 153,073 142,032 138,738
Deposits by banks ............................................. 10,354 3 10,351 9,972 8,113
Customer accounts ........................................... 93,996 1 93,995 90,137 81,055
1Since the date of acquisition.
2 Third party only.