HSBC 2003 Annual Report Download - page 65

63
Private Banking and Other
Profit/(loss) excluding goodwill amortisation
Private Banking Other5
Year ended 31 December Year ended 31 December
2003 2002 2001 2003 2002 2001
US$m US$m US$m US$m US$m US$m
Net interest income ................................ 574 549 577 (14
)
(53
)
80
Dividend income ..................................... 324 37 34 32
Net fees and commissions ....................... 822 623 602 159 124 100
Dealing profits ......................................... 209 137 124 (46
)
11 (6
)
Other income ........................................... 50 102 87 892 905 996
Other operating income ........................... 1,084 864 817 1,042 1,074 1,122
Operating income .................................. 1,658 1,413 1,394 1,028 1,021 1,202
Operating expenses excluding goodwill
amortisation1 ......................................... (1,149
)
(987
)
(919
)
(1,325
)
(1,090
)
(1,230
)
Operating profit/(loss) before
provisions1,8 ......................................... 509 426 475 (297
)
(69
)
(28
)
Provisions for bad and doubtful debts ..... (2
)
(5
)
24 113 (6
)
(598
)
Provisions for contingent liabilities and
commitments ........................................ (2
)
(21
)
(46
)
25 (7
)
(588
)
Loss from foreign currency
redenomination in Argentina ................. ––– (9
)
(68
)
(520
)
Amounts written off fixed asset
investments ........................................... (3
)
(22
)
(2
)
6(194
)
(45
)
Operating profit/(loss)1,8 ........................ 502 378 451 (162
)
(344
)
(1,779
)
Share of operating profit/(loss) in joint
ventures2 ............................................... –(1
)
––––
Share of operating profit/(loss) in
associates2.............................................. –(10
)
–74 68 60
Gains on disposal of investments and
tangible fixed assets .............................. 61 46 5 92 75 195
Profit/(loss) on ordinary activities
before tax3,8 .......................................... 563 413 456 4(201
)
(1,524
)
By geographic region:
Europe ..................................................... 339 236 310 173 155 357
Hong Kong .............................................. 127 107 84 (123
)
(61
)
198
Rest of Asia-Pacific ................................. 36 25 (16
)
50 12 30
North America ......................................... 63 57 81 (176
)
(207
)
(877
)
South America ......................................... (2
)
(12
)
(3
)
80 (100
)
(1,232
)
Profit on ordinary activities before
tax3,8 ........................................................ 563 413 456 4(201
)
(1,524
)
%%% %%%
Share of HSBC’ s pre-tax profits3,8 ........... 3.9 3.8 5.2 –(1.9) (17.4
)
Cost:income ratio1,8 ................................. 69.3 69.9 65.9 128.9 106.8 102.3
US$m US$m US$m US$m US$m US$m
Selected balance sheet data6
Loans and advances to customers (net) ... 18,109 14,115 12,137 2,259 2,201 1,409
Total assets7,9 ........................................... 54,510 48,346 52,135 25,524 21,251 20,581
Customer accounts .................................. 50,951 49,012 51,199 557 311 205
Goodwill amortisation:
1excluded
f
rom
(
1
)
above....................... 282 264 249 5 –10
2excluded
f
rom
(
2
)
above....................... –––(1
)
11
3excluded
f
rom
(
3
)
above....................... 282 264 249 4 1 11
For other footnotes, see page 65.