HSBC 2003 Annual Report Download - page 118

HSBC HOLDINGS PLC
Financial Review (continued)
116
Profit/(loss) excluding goodwill amortisation by customer group (continued)
Year ended 31 December 2002
South America
Personal
Financial
Services
US$m
Commercial
Banking
US$m
Corporate,
Investment
Banking &
Markets
US$m
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination
US$m
Total
US$m
Net interest income ......................... 539 126 (5) 6 (21) – 645
Dividend income .............................. – – 1 – 14 – 15
Net fees and commissions ................ 218 87 67 12 (60) – 324
Dealing profits .................................. 10 9 120 (3) 11 – 147
Other income .................................... 11 4 (18) – 135 (22) 110
Other operating income .................... 239 100 170 9 100 (22) 596
Operating income ........................... 778 226 165 15 79 (22) 1,241
Operating expenses excluding
goodwill amortisation1.................... (691) (147) (106) (17) (121) 22 (1,060)
Operating profit/(loss) before
provisions1..................................... 87 79 59 (2) (42) – 181
Provisions for bad and doubtful
debts .............................................. (100) – (15) (7) 5 – (117)
Provisions for contingent liabilities
and commitments .......................... (19) – – – (12) – (31)
Loss from foreign currency
redenomination in Argentina .......... – – – – (68) – (68)
Amounts written off fixed asset
investments ................................... (1) – (22) – (13) – (36)
Operating profit/(loss)1 ................... (33) 79 22 (9) (130) – (71)
Gains/(losses) on disposal of
investments and tangible fixed
assets.............................................. – – 10 (3) 30 – 37
Profit/(loss) on ordinary activities
before ta
x
1 .................................... (33) 79 32 (12) (100) – (34)
%%%%% %
Share of HSBC’s pre-tax profits ....... (0.3) 0.8 0.3 (0.1) (1.0) (0.3)
Cost:income ratio ............................. 88.8 65.0 64.2 113.3 153.2 85.4
US$m US$m US$m US$m US$m US$m
Selected balance sheet data2
Loans and advances to customers
(net) ............................................... 1,094 505 1,401 28 – 3,028
Total assets ....................................... 2,062 704 4,273 37 1,415 8,491
Customer accounts ........................... 1,366 934 2,477 44 42 4,863
The following assets and liabilities
were also significant to Corporate,
Investment Banking and Markets:
Loans and advances to
banks (net) ................................. 987
Debt securities, treasury bills and
other eligible bills ....................... 977
Deposits by banks ......................... 609
Goodwill amortisation:
1excluded from (1) above .............. 18 –411 24
2 Third party only.