HSBC 2009 Annual Report Download - page 126

HSBC HOLDINGS PLC
Report of the Directors: Operating and Financial Review (continued)
Geographical regions > Middle East > Profit/(loss) before tax by customer group // North America > 2009
124
Profit/(loss) before tax (continued)
2007
Middle East27
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$m
Net interest income ..................... 458 381 260 1 18 (24) 1,094
Net fee income ............................ 172 164 132 3 – – 471
Trading income/(expense)
excluding net interest income 30 43 183 – – – 256
Net interest income/(expense)
on trading activities ................ – – (1) – 18 24 41
Net trading income/(expense)42 ... 30 43 182 – 18 24 297
Gains less losses from
financial investments .............. 2 – – – – – 2
Dividend income ......................... – – 2 – – – 2
Other operating income .............. 22 12 9 1 1 (28) 17
Total operating income ............... 684 600 585 5 37 (28) 1,883
Net insurance claims43 ................ – – – – – – –
Net operating income16 ............... 684 600 585 5 37 (28) 1,883
Loan impairment charges and
other credit risk provisions ..... (66) 11 – – – – (55)
Net operating income ................. 618 611 585 5 37 (28) 1,828
Total operating expenses ............ (418) (207) (171) (2) (3) 28 (773)
Operating profit .......................... 200 404 414 3 34 – 1,055
Share of profit in associates
and joint ventures ................... 45 78 81 – 48 – 252
Profit before tax .......................... 245 482 495 3 82 – 1,307
% % % % % %
Share of HSBC’s profit
before tax ................................ 1.0 2.0 2.1 – 0.3 5.4
Cost efficiency ratio ................... 61.1 34.5 29.2 40.0 8.1 41.1
Balance sheet data41
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 5,173 10,762 5,630 42 – 21,607
Total assets ................................. 6,045 12,219 26,548 49 4,390 (3,582) 45,669
Customer accounts ...................... 11,078 9,585 8,347 1,625 302 30,937
For footnotes, see page 149.