HSBC 2003 Annual Report Download - page 17

15
Geographical Regions
Profit before tax split by geographical region
Year ended 31 December 2003
Europe Hong Kong
Rest of Asia-Pacific North America
South America
Total assets1 split by geographical region
As at 31 December 2003
%
Europe 41.6
Hong Kong 19.3
Rest of Asia Pacific 9.6
North America 28.3
South America 1.2
1Excludes Hong Kong Government certificates of
indebtedness.
Business highlights in 2003
For additional information regarding business
developments in 2003, as well as comparative
information relating to developments in 2002 and
2001, please refer to the ‘Financial Review’ on pages
36-117.
Europe
HSBC’ s principal banking subsidiaries in Europe are
HSBC Bank, CCF and HSBC Private Bank. HSBC
provides a wide range of banking, treasury and
financial services to personal, commercial and
corporate customers in the UK, France, and across
continental Europe, with strong coverage in Malta
and Turkey. The bank’ s strategy is to build long-term
relationships attracting customers through value-for-
money products and high-quality service.
General
• The remarkable efforts of colleagues in Turkey
ensured that business returned to normal
following the two bomb blasts on 20 November,
2003 which severely damaged the Head Office
and a branch in Istanbul. All branches were
operating as normal the day after, with the
exception of Beyoglu, which was damaged by
the bomb at the British Consulate. Head Office
employees relocated to a contingency site and
the bank’s business recovery planning proved
both highly effective and invaluable. In the face
of the terrible events, colleagues responded with
incredible courage and commitment. HSBC
immediately launched support initiatives for the
bereaved and those most impacted by the tragic
events.
• In March, HSBC added the consumer finance
business, HFC Bank plc (‘HFC Bank’ ), to its
European network as a consequence of the
Household acquisition. HFC Bank provides a
range of loan and insurance products to over
3.5 million customers throughout the UK,
making it one of the country’s largest pure
consumer finance businesses.
Personal Financial Services
• For the second year running, HSBC won a major
category of the ‘What Mortgage?’ award in the
UK and was the Mortgage Magazine winner of
the ‘Lender of the Year’ award. First Direct won
the Mortgage Advisor and Home Buyer
Magazine award for ‘Offset Mortgage of the
Year’ .
• In July, HSBC became the first British high
street bank to offer an Islamic mortgage to the
estimated UK Muslim population of 1.8 million.
The Amanah Home Finance product was
launched with the backing of HSBC's Dubai-
based Amanah Finance division.
• The Premier customer base in the UK grew by
57 per cent to over 280,000. Premier
International, offering credit history transfer
across borders and seamless account opening,
was launched in the UK, Jersey (Offshore) and
France, while Malta and Greece became the 30th
and 31st countries to offer the HSBC Premier
service.
3,969 3,728
1,391
3,613
115
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
US$ Million