HSBC 2005 Annual Report Download - page 92

HSBC HOLDINGS PLC
Financial Review (continued)
90
Profit/(loss) before tax by customer group
Year ended 31 December 2005
North America
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$m
Net interest income/
(expense) ...................... 12,753 1,449 842 190 (115) (232) 14,887
Net fee income/(expense) . 3,511 425 626 203 (159)
–
4,606
Trading income excluding
net interest income ........ 160 12 168 10 21 – 371
Net interest income/
(expense) on trading
activities ....................... 210 (4) 225 –(21) 232 642
Net trading
income/(expense) ......... 370 8 393 10 – 232 1,013
Net income from financial
instruments designated
at fair value .................. 10 – 23 (1) 402 – 434
Gains less losses from
financial investments .... 22164–1–88
Dividend income .............. 9–33–––42
Net earned insurance
premiums ...................... 603–––(1)–602
Other operating income .... 285 107 205 34 1,279 (1,170) 740
Total operating income .. 17,563 1,990 2,186 436 1,407 (1,170) 22,412
Net insurance claims1 ....... (334) – – – 1 –(333)
Net operating income
before loan impairment
charges and other
credit risk provisions .. 17,229 1,990 2,186 436 1,408 (1,170) 22,079
Loan impairment charges
and other credit risk
provisions ..................... (5,086) (13) 60 2 (1) –(5,038)
Net operating income ..... 12,143 1,977 2,246 438 1,407 (1,170) 17,041
Total operating expenses .. (7,382) (913) (1,511) (334) (1,247) 1,170 (10,217)
Operating profit .............. 4,761 1,064 735 104 160 –6,824
Share of profit in associates
and joint ventures ......... ––39–9–48
Profit before tax .............. 4,761 1,064 774 104 169 – 6,872
%%%%% %
Share of HSBC’s profit
before tax ..................... 22.7 5.1 3.7 0.5 0.8 32.8
Cost efficiency ratio .......... 42.8 45.9 69.1 76.6 88.6 46.3
US$
m
US$
m
US$
m
US$
m
US$
m
US$
m
Selected balance sheet
data2
Loans and advances to
customers (net) ............. 212,058 32,700 15,250 4,926 – 264,934
Total assets ....................... 247,928 40,821 168,524 5,870
–
463,143
Customer accounts ........... 57,401 26,324 32,514 9,590 1 125,830
Loans and advances to
banks (net)3 .................. 13,658
Trading assets, financial
instruments designated at
fair value, and financial
investments3 ................. 112,000
Deposits by banks3 ........... 8,561
1Net insurance claims incurred and movement in policyholders’ liabilities.
2Third party only.
3 These assets and liabilities were significant to Corporate, Investment Banking and Markets.