HSBC 2003 Annual Report Download - page 89

87
Year ended 31 December 2001
Hong Kong
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$m
Net interest income ......................... 2,355 717 1,105 78 (90) – 4,165
Dividend income .............................. 3 2 4 – 17 – 26
Net fees and commissions ................ 478 268 376 67 (17) – 1,172
Dealing profits .................................. 39 23 129 33 (6) – 218
Other income .................................... 357 81 38 6 439 (485) 436
Other operating income .................... 877 374 547 106 433 (485) 1,852
Operating income ........................... 3,232 1,091 1,652 184 343 (485) 6,017
Operating expenses excluding
goodwill amortisation1 ................... (1,353) (404) (494) (97) (277) 485 (2,140)
Operating profit before
provisions1 .................................... 1,879 687 1,158 87 66 – 3,877
Provisions for bad and doubtful
debts ............................................. (252) 30 23 (1) 3 – (197)
Provisions for contingent liabilities
and commitments .......................... – 4 11 – (9) – 6
Amounts written off fixed asset
investments ................................... – – (2) – (16) – (18)
Operating profit1 ............................ 1,627 721 1,190 86 44 – 3,668
Share of operating profit in
associates2...................................... 2 – (1) (2) 18 – 17
Gains on disposal of investments
and tangible fixed assets................. 2 5 55 – 136 – 198
Profit on ordinary activities
before ta
x
3..................................... 1,631 726 1,244 84 198 – 3,883
%%%%% %
Share of HSBC’ s pre-tax profits3 ...... 18.6 8.2 14.1 1.0 2.2 44.1
Cost:income ratio1 ............................ 41.9 37.0 29.9 52.7 80.8 35.6
US$m US$m US$m US$m US$m US$m
Selected balance sheet data4
Loans and advances to customers
(net) ............................................... 34,248 9,790 20,183 1,232 1,906 67,359
Total assets5,6 .................................... 35,765 13,843 106,791 6,573 12,680 175,652
Customer accounts ........................... 102,536 25,659 11,749 6,590 10 146,544
The following assets and liabilities
were also significant to Corporate,
Investment Banking and Markets:
Loans and advances to
banks (net) ................................. 37,558
Debt securities, treasury bills and
other eligible bills ....................... 44,528
Deposits by banks ......................... 3,359
Goodwill amortisation:
1excluded from (1) above ............... ––––– –
2excluded from (2) above ............... ––––– –
3excluded from (3) above ............... ––––– –
4Third party only.
5Excluding Hong Kong Government certificates of indebtedness.
6Figures for 2001 have been restated to reflect the adoption of UITF Abstracts 37 ‘Purchases and sales of own shares’, and 38 ‘Accounting for ESOP
trusts’, details of which are set out in Note 1 in the ‘Notes on the Financial Statements’ on pages 239 to 240.