HSBC 2005 Annual Report Download - page 83

81
Year ended 31 December 2004
Rest of Asia-Pacific (including
the Middle East)
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$m
Net interest income .................. 948 472 596 42 2 – 2,060
Net fee income ........................ 284 266 421 41 29 – 1,041
Trading income ....................... 43 59 344 46 2 – 494
Net investment income on
assets backing policyholders’
liabilities .............................. 32–––––32
Gains less losses from
financial investments ........... 1 – 6 – 10 – 17
Dividend income ..................... – – – –3–3
Net earned insurance
premiums ............................. 77 20 – – – – 97
Other operating income ........... 28 13 26 2 157 (80) 146
Total operating income ............ 1,413 830 1,393 131 203 (80) 3,890
Net insurance claims1 ............... (72) (10) – – – – (82)
Net operating income before
loan impairment charges and
other credit risk provisions .. 1,341 820 1,393 131 203 (80) 3,808
Loan impairment charges and
other credit risk provisions .. (117) (20) 47 1 – – (89)
Net operating income .............. 1,224 800 1,440 132 203 (80) 3,719
Total operating expenses ......... (949) (350) (598) (72) (198) 80 (2,087)
Operating profit ....................... 275 450 842 60 5 – 1,632
Share of profit in associates
and joint ventures ................ 61 33 100 – 21 – 215
Profit before tax ....................... 336 483 942 60 26 – 1,847
%%%%% %
Share of HSBC’s profit
before tax ............................ 1.8 2.6 5.0 0.3 0.1 9.8
Cost efficiency ratio ................ 70.8 42.7 43.0 55.0 97.5 54.8
US$m US$m US$m US$m US$m US$m
Selected balance sheet data2
Loans and advances to
customers (net) .................... 22,886 16,444 19,276 1,960 97 60,663
Total assets .............................. 25,577 18,845 66,438 4,549 5,121 120,530
Customer accounts .................. 28,961 15,381 28,620 5,543 108 78,613
The following assets and
liabilities were significant to
Corporate, Investment
Banking and Markets:
Loans and advances to
banks (net) ........................... 12,119
Trading assets, financial
instruments designated at
fair value, and financial
investments ......................... 26,555
Deposits by banks .................... 7,156
1Net insurance claims incurred and movement in policyholders’ liabilities.
2Third party only.