HSBC 2008 Annual Report Download - page 120

HSBC HOLDINGS PLC
Report of the Directors: Operating and Financial Review (continued)
Geographical regions > Rest of Asia-Pacific > Profit before tax by customer group // North America > 2008
118
Analysis by customer group and global business (continued)
Profit before tax
2006
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$m
Net interest income ..................... 1,520 848 802 35 61 (219) 3,047
Net fee income ............................ 524 330 688 68 12 – 1,622
Trading income/(expense)
excluding net interest income 61 86 717 74 (3) – 935
Net interest income on trading
activities .................................. – – – – 27 219 246
Net trading income16 ................... 61 86 717 74 24 219 1,181
Changes in fair value of long-
term debt issued and related
derivatives .............................. – – – – – – –
Net income from other financial
instruments designated at fair
value ....................................... 59 4 4 – 12 – 79
Net income from financial
instruments designated at
fair value ................................. 59 4 4 – 12 – 79
Gains less losses from
financial investments .............. 2 2 38 (1) – – 41
Dividend income ......................... – – 1 – 4 – 5
Net earned insurance premiums . 148 26 – – – – 174
Other operating income .............. 108 20 61 – 667 (91) 765
Total operating income ............... 2,422 1,316 2,311 176 780 (91) 6,914
Net insurance claims17 ................ (180) (11) – – (1) – (192)
Net operating income5 ................ 2,242 1,305 2,311 176 779 (91) 6,722
Loan impairment (charges)/
recoveries and other
credit risk provisions .............. (545) 29 5 – (1) – (512)
Net operating income ................. 1,697 1,334 2,316 176 778 (91) 6,210
Total operating expenses ............ (1,593) (554) (869) (96) (527) 91 (3,548)
Operating profit .......................... 104 780 1,447 80 251 – 2,662
Share of profit in associates
and joint ventures ................... 373 254 202 – 36 – 865
Profit before tax .......................... 477 1,034 1,649 80 287 – 3,527
% % % % % %
Share of HSBC’s profit
before tax ................................ 2.2 4.7 7.5 0.4 1.2 16.0
Cost efficiency ratio ................... 71.1 42.5 37.6 54.5 67.7 52.8
Balance sheet data15
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 28,911 21,912 24,311 2,313 127 77,574
Total assets ................................. 35,794 26,757 109,535 7,882 – (4,958) 175,010
Customer accounts ...................... 38,557 24,228 36,623 8,929 658 108,995
For footnotes, see page 143.