HSBC 2008 Annual Report Download - page 119

117
2007
Rest of Asia-Pacific (including
the Middle East)
Personal
Financial
Services
US$m
Commercial
Banking
US$m
Global
Banking &
Markets
US$m
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination21
US$m
Total
US$m
Net interest income ..................... 1,965 1,131 1,295 60 153 (461) 4,143
Net fee income ............................ 766 429 952 85 14 – 2,246
Trading income/(expense)
excluding net interest income 72 129 1,000 71 (70) – 1,202
Net interest income/(expense)
on trading activities ................ (2) – (22) – 4 461 441
Net trading income/(expense)16 ... 70 129 978 71 (66) 461 1,643
Changes in fair value of long-
term debt issued and related
derivatives .............................. – – – – 1 – 1
Net income/(expense) from
other financial instruments
designated at fair value ........... 73 4 (3) (1) 37 – 110
Net income/(expense) from
financial instruments
designated at fair value ........... 73 4 (3) (1) 38 – 111
Gains less losses from
financial investments .............. 5 4 28 – 1 – 38
Gains arising from dilution of
interests in associates ............. – – – – 1,081 – 1,081
Dividend income ......................... – – 2 – 6 – 8
Net earned insurance premiums . 209 16 – – 1 – 226
Other operating income .............. 40 15 53 2 849 (161) 798
Total operating income ............... 3,128 1,728 3,305 217 2,077 (161) 10,294
Net insurance claims17 ................ (246) (7) – – – – (253)
Net operating income5 ................ 2,882 1,721 3,305 217 2,077 (161) 10,041
Loan impairment charges and
other credit risk provisions ..... (552) (61) (3) – – – (616)
Net operating income ................. 2,330 1,660 3,302 217 2,077 (161) 9,425
Total operating expenses ............ (2,131) (739) (1,140) (125) (790) 161 (4,764)
Operating profit .......................... 199 921 2,162 92 1,287 – 4,661
Share of profit in associates
and joint ventures ................... 561 429 302 – 56 – 1,348
Profit before tax .......................... 760 1,350 2,464 92 1,343 – 6,009
% % % % % %
Share of HSBC’s profit
before tax ................................ 3.1 5.6 10.2 0.4 5.5 24.8
Cost efficiency ratio ................... 73.9 42.9 34.5 57.6 38.0 47.4
Balance sheet data15
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 34,486 32,159 32,106 2,955 146 101,852
Total assets ................................. 42,337 39,743 155,106 9,294 4,756 (8,031) 243,205
Customer accounts ...................... 49,703 34,891 54,120 11,116 403 150,233
For footnotes, see page 143.