HSBC 2009 Annual Report Download - page 135

133
Analysis by customer group and global business
Profit/(loss) before tax
2009
North America
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/(expense) .... 11,244 1,391 999 178 (84) (58) 13,670
Net fee income ............................ 3,174 453 1,045 142 3 – 4,817
Trading income/(expense)
excluding net interest income 257 (10) (179) (3) (30) – 35
Net interest income/(expense)
on trading activities ................ 60 3 175 (1) 1 58 296
Net trading income/(expense)42 .. 317 (7) (4) (4) (29) 58 331
Changes in fair value of long-
term debt issued and related
derivatives .............................. – – – – (3,497) – (3,497)
Net income from other financial
instruments designated at
fair value ................................. – – – – 1 – 1
Net expense from financial
instruments designated
at fair value ............................. – – – – (3,496) – (3,496)
Gains less losses from financial
investments ............................. 16 3 277 – – – 296
Dividend income ......................... 21 5 27 2 (2) – 53
Net earned insurance premiums . 309 – – – – – 309
Other operating income .............. 9 162 317 11 1,828 (1,761) 566
Total operating income/
(expense) ................................ 15,090 2,007 2,661 329 (1,780) (1,761) 16,546
Net insurance claims43 ................ (241) – – – – – (241)
Net operating income/
(expense)16 ............................. 14,849 2,007 2,661 329 (1,780) (1,761) 16,305
Loan impairment charges and
other credit risk provisions ..... (14,424) (519) (621) (98) (2) – (15,664)
Net operating income/
(expense) ................................ 425 1,488 2,040 231 (1,782) (1,761) 641
Operating expenses ..................... (5,651) (958) (1,328) (281) (1,934) 1,761 (8,391)
Operating profit/(loss) .............. (5,226) 530 712 (50) (3,716) – (7,750)
Share of profit/(loss) in
associates and joint ventures .. – 13 – – (1) – 12
Profit/(loss) before tax .............. (5,226) 543 712 (50) (3,717) – (7,738)
% % % % % %
Share of HSBC’s profit
before tax ................................ (73.8) 7.7 10.1 (0.7) (52.6) (109.3)
Cost efficiency ratio ................... 38.1 47.7 49.9 85.4 (108.7) 51.5
Balance sheet data41
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 151,671 31,292 18,654 5,236 – 206,853
Total assets ................................. 179,597 38,232 260,131 6,572 2,071 (11,589) 475,014
Customer accounts ...................... 74,228 42,900 19,095 12,834 100 149,157