HSBC 2009 Annual Report Download - page 117

115
2008
Rest of Asia-Pacific27
Personal
Financial
Services
US$m
Commercial
Banking
US$m
Global
Banking &
Markets
US$m
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination50
US$m
Total
US$m
Net interest income ..................... 1,708 934 1,524 103 139 (471) 3,937
Net fee income ............................ 592 356 831 71 17 – 1,867
Trading income/(expense)
excluding net interest income 65 122 1,233 77 (54) – 1,443
Net interest income/(expense)
on trading activities ................ (5) – 123 – 10 471 599
Net trading income/(expense)42 ... 60 122 1,356 77 (44) 471 2,042
Changes in fair value of long-
term debt issued and related
derivatives .............................. – – – – 1 – 1
Net income/(expense) from
other financial instruments
designated at fair value ........... (172) – (4) – 4 – (172)
Net income/(expense) from
financial instruments
designated at fair value ........... (172) – (4) – 5 – (171)
Gains less losses from
financial investments .............. 15 3 6 – – – 24
Dividend income ......................... – – 2 – – – 2
Net earned insurance premiums . 172 25 – – – – 197
Other operating income/
(expense) ................................ 58 76 79 (1) 1,070 (227) 1,055
Total operating income ............... 2,433 1,516 3,794 250 1,187 (227) 8,953
Net insurance claims43 ................ 42 (14) – – – – 28
Net operating income16 ............... 2,475 1,502 3,794 250 1,187 (227) 8,981
Loan impairment charges and
other credit risk provisions ..... (640) (137) (73) (1) (1) – (852)
Net operating income ................. 1,835 1,365 3,721 249 1,186 (227) 8,129
Total operating expenses ............ (2,016) (689) (1,086) (140) (1,000) 227 (4,704)
Operating profit/(loss) ................ (181) 676 2,635 109 186 – 3,425
Share of profit in associates
and joint ventures ................... 392 559 335 – 11 – 1,297
Profit before tax .......................... 211 1,235 2,970 109 197 – 4,722
% % % % % %
Share of HSBC’s profit
before tax ................................ 2.3 13.3 31.9 1.2 2.0 50.7
Cost efficiency ratio ................... 81.5 45.9 28.6 56.0 84.2 52.4
Balance sheet data41
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 27,634 21,967 27,941 2,960 159 80,661
Total assets ................................. 36,310 29,030 147,714 12,440 5,528 (5,449) 225,573
Customer accounts ...................... 42,778 25,372 42,977 12,713 354 124,194