HSBC 2003 Annual Report Download - page 112

HSBC HOLDINGS PLC
Financial Review (continued)
110
Profit/(loss) before tax
Year ended 31 December
2003 2002 2001
South America US$m US$m US$m
Net interest income ........................................................................... 640 645 1,065
Dividend income ................................................................................ 315 12
Net fees and commissions .................................................................. 338 324 494
Dealing profits .................................................................................... 136 147 18
Other income ...................................................................................... 201 110 356
Other operating income ...................................................................... 678 596 880
Total operating income .................................................................... 1,318 1,241 1,945
Staff costs ........................................................................................... (584
)
(572
)
(836
)
Premises and equipment ..................................................................... (124
)
(113
)
(153
)
Other .................................................................................................. (327
)
(330
)
(435
)
Depreciation and intangible asset amortisation ................................... (40
)
(45
)
(73
)
(1,075
)
(1,060
)
(1,497
)
Goodwill amortisation ........................................................................ (11
)
(24
)
(14
)
Operating expenses ............................................................................. (1,086
)
(1,084
)
(1,511
)
Operating profit/(loss) before provisions ........................................ 232 157 434
Provisions for bad and doubtful debts ................................................ (58
)
(117
)
(927
)
Provisions for contingent liabilities and commitments ....................... 2(31
)
–
Loss from foreign currency redenomination in Argentina .................. (9
)
(68
)
(520
)
Amounts written off fixed asset investments ...................................... (62
)
(36
)
(1
)
Operating profit/(loss) ...................................................................... 105 (95
)
(1,014
)
Share of operating profit in associated undertakings ........................... 1–1
Gains/(losses) on disposal of investments and tangible fixed assets ... 937 (3
)
Profit/(loss) on ordinary activities before tax ................................. 115 (58
)
(1,016
)
%%%
Share of HSBC’ s pre-tax profits (excluding goodwill amortisation) ... 0.9 (0.3
)
(11.4
)
Share of HSBC’s pre-tax profits ......................................................... 0.9 (0.6
)
(12.7
)
Cost:income ratio (excluding goodwill amortisation) ......................... 81.6 85.4 77.0
Period-end staff numbers (full-time equivalent) ................................. 28,292 25,522 27,519
US$m US$m US$m
Selected balance sheet data1
Loans and advances to customers (net) .............................................. 4,982 3,028 4,156
Loans and advances to banks (net) ..................................................... 1,922 1,665 2,252
Debt securities, treasury bills and other eligible bills ......................... 2,151 1,450 3,386
Total assets ......................................................................................... 12,549 8,491 13,097
Deposits by banks ............................................................................... 828 661 1,338
Customer accounts ............................................................................. 6,945 4,863 7,523
1 Third party only.