HSBC 2008 Annual Report Download - page 139

137
2006
Latin America
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$m
Net interest income/(expense) .... 3,057 1,037 325 13 (2) (233) 4,197
Net fee income ............................ 1,053 387 167 23 – – 1,630
Trading income excluding net
interest income ....................... 61 21 218 1 – – 301
Net interest income/(expense)
on trading activities ................ 14 5 (16) – – 233 236
Net trading income16 ................... 75 26 202 1 – 233 537
Changes in fair value of long-term
debt issued and related
derivatives .............................. – – – – – – –
Net income from other financial
instruments designated at fair
value ....................................... 227 – 11 – (1) – 237
Net income/(expense) from
financial instruments
designated at fair value ........... 227 – 11 – (1) – 237
Gains less losses from financial
investments ............................. 11 1 72 – – – 84
Dividend income ......................... 5 1 – – – – 6
Net earned insurance premiums . 992 27 59 – (2) – 1,076
Other operating income .............. 74 7 10 4 14 (18) 91
Total operating income ............... 5,494 1,486 846 41 9 (18) 7,858
Net insurance claims17 ................ (957) (16) (51) – 1 – (1,023)
Net operating income5 ................ 4,537 1,470 795 41 10 (18) 6,835
Loan impairment (charges)/
recoveries and other credit
risk provisions ........................ (764) (197) 26 – (3) – (938)
Net operating income ................. 3,773 1,273 821 41 7 (18) 5,897
Total operating expenses ............ (2,977) (822) (346) (27) (12) 18 (4,166)
Operating profit/(loss) ................ 796 451 475 14 (5) – 1,731
Share of profit in associates
and joint ventures ................... 4 – – – – – 4
Profit/(loss) before tax ................ 800 451 475 14 (5) – 1,735
% % % % % %
Share of HSBC’s profit
before tax ................................ 3.6 2.0 2.2 0.1 – 7.9
Cost efficiency ratio ................... 65.6 55.9 43.5 65.9 120.0 61.0
Balance sheet data15
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 16,165 11,463 8,147 16 – 35,791
Total assets ................................. 28,237 16,599 37,564 90 344 (665) 82,169
Customer accounts ...................... 25,200 13,754 11,685 222 – 50,861
For footnotes, see page 143.