HSBC 2004 Annual Report Download - page 108

HSBC HOLDINGS PLC
Financial Review (continued)
106
Profit/(loss) excluding goodwill amortisation by customer group (continued)
Year ended 31 December 2003
North America
Personal
Financial
Services
US$m
Consumer
Finance4
US$m
Total
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$m
Net interest
income/(expense) ......... 2,116 7,851 9,967 1,046 743 121 (100) –11,777
Dividend income ............... – 12 12 – 20 1 1 –34
Net fees and commissions .. 720 1,170 1,890 292 351 155 (12) –2,676
Dealing profits .................. 19 – 19 18 301 2 – –340
Other income ..................... 86 525 611 152 156 36 33 (56) 932
Other operating income ..... 825 1,707 2,532 462 828 194 22 (56) 3,982
Operating income ............ 2,941 9,558 12,499 1,508 1,571 315 (78) (56) 15,759
Operating expenses
excluding goodwill
amortisation1 ................. (1,965) (3,098) (5,063) (786) (777) (254) (123) 56 (6,947)
Operating profit/(loss)
before provisions1 ....... 976 6,460 7,436 722 794 61 (201) –8,812
Provisions for bad and
doubtful debts ............... (142) (4,395) (4,537) (133) (6) 1 (1) –(4,676)
Provisions for contingent
liabilities and
commitments ................ – – – 4 – – (1) –3
Amounts written off fixed
asset investments .......... – – – – (9) – – –(9)
Operating profit/(loss)1 ... 834 2,065 2,899 593 779 62 (203) –4,130
Share of operating profit
in joint ventures ............ 11 – 11 – – – – –11
Share of operating profit
in associates2 ................. – – – – – – 7 –7
Gains on disposal of
investments and
tangible fixed assets ...... 25 3 28 2 58 1 20 –109
Profit/(loss) on ordinary
activities before tax3.... 870 2,068 2,938 595 837 63 (176) –4,257
%%%%%%% %
Share of HSBC’ s pre-tax
profits3 .......................... 6.0 14.4 20.4 4.1 5.8 0.4 (1.1
)
29.6
Cost:income ratio1 ............. 66.8 32.4 40.5 52.1 49.5 80.6 (157.7
)
44.1
US$m US$m US$m US$m US$m US$m US$m US$m
Selected balance sheet data5
Loans and advances to
customers (net) ............. 43,608 107,957 151,565 23,553 13,758 2,574 – 191,450
Total assets ....................... 53,082 134,857 187,939 27,444 70,223 3,108 1,086 289,800
Customer accounts ............ 48,576 1 48,577 20,032 17,239 8,148 – 93,996
The following assets and
liabilities were also
significant to the customer
groups noted:
Loans and advances to
banks (net) .................... 11,577
Debt securities, treasury
bills and other eligible
bills .............................. 36,026
Deposits by banks ............. 9,958
Debt securities in issue....... 107,673
Goodwill amortisation
excluded:
1from (1) above .............. 117 356 473 100 45 25 – 643
2from (2) above .............. 1 –1–––– 1
3from (3) above .............. 118 356 474 100 45 25 – 644
4Comprises HSBC Finance Corporation’s consumer finance business and the US residential mortgages acquired by HSBC Bank USA from HSBC Finance
Corporation and its correspondents in December 2003.
5Third party only.