HSBC 2004 Annual Report Download - page 74

HSBC HOLDINGS PLC
Financial Review (continued)
72
Profit/(loss) excluding goodwill amortisation by customer group (continued)
Year ended 31 December 2002
Europe
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$m
Net interest income ....................................... 2,541 1,800 1,444 300 258 – 6,343
Dividend income ............................................. 3 4 2022––211
Net fees and commissions ............................... 1,570 1,128 1,137 471 222 – 4,528
Dealing profits ................................................ 31 18 385 63 11 – 508
Other income .................................................. 163 303 508 16 316 (281) 1,025
Other operating income ................................... 1,767 1,453 2,232 552 549 (281) 6,272
Operating income .......................................... 4,308 3,253 3,676 852 807 (281) 12,615
Operating expenses excluding goodwill
amortisation1 ............................................... (3,076) (1,759) (2,197) (618) (509) 281 (7,878)
Operating profit before provisions1 ............. 1,232 1,494 1,479 234 298 – 4,737
Provisions for bad and doubtful debts ............. (215) (204) (153) 7 (4) – (569)
Provisions for contingent liabilities
and commitments ........................................ (23) 11 (3) (21) 21 – (15)
Amounts written off fixed asset investments .. (1) 3 (72) (22) (175) – (267)
Operating profit1 ........................................... 993 1,304 1,251 198 140 – 3,886
Share of operating profit/(loss)
in joint ventures2 ......................................... (22)32–––(17)
Share of operating profit/(loss)
in associates ................................................ (1) (3) 3 (10) 14 – 3
Gains on disposal of investments
and tangible fixed assets ............................. 17 40 182 48 1 – 288
Profit on ordinary activities before tax3 ...... 987 1,344 1,438 236 155 – 4,160
%%%%% %
Share of HSBC’ s pre-tax profits3 .................... 9.4 12.8 13.7 2.2 1.4 39.5
Cost:income ratio1 ........................................... 71.4 54.1 59.8 72.5 63.1 62.4
US$m US$m US$m US$m US$m US$m
Selected balance sheet data4
Loans and advances to customers (net) ........... 58,421 43,104 54,099 9,077 – 164,701
Total assets ..................................................... 72,817 56,934 172,665 35,920 3,233 341,569
Customer accounts .......................................... 84,486 35,614 45,818 31,444 – 197,362
The following assets and liabilities were
significant to Corporate, Investment
Banking and Markets:
Loans and advances to banks (net) .................. 31,402
Debt securities, treasury bills and other
eligible bills ................................................ 53,897
Deposits by banks ........................................... 31,741
Goodwill amortisation excluded:
1from (1) above ............................................ 112 133 169 238 (1) 651
2from (2) above ............................................ – – 8–19
3from (3) above ............................................ 112 133 177 238 –660
4Third party only.