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HSBC HOLDINGS PLC
Report of the Directors: Operating and Financial Review (continued)
Geographical regions > Summary / Europe
86
In the analysis of profit by geographical regions
that follows, operating income and operating expenses
include intra-HSBC items of US$2,756 million
(2008: US$2,492 million; 2007: US$1,985 million).
Profit/(loss) before tax
2009 2008 2007
US$m % US$m % US$m %
Europe ...................................................... 4,009 56.7 10,869 116.7 8,595 35.5
Hong Kong .............................................. 5,029 71.0 5,461 58.7 7,339 30.3
Rest of Asia-Pacific27 .............................. 4,200 59.3 4,722 50.7 4,702 19.4
Middle East27 ........................................... 455 6.4 1,746 18.8 1,307 5.4
North America ......................................... (7,738) (109.3) (15,528) (166.8) 91 0.4
Latin America .......................................... 1,124 15.9 2,037 21.9 2,178 9.0
7,079 100.0 9,307 100.0 24,212 100.0
Total assets41
At 31 December
2009 2008
US$m % US$m %
Europe ........................................................................................................... 1,268,600 53.7 1,392,049 55.1
Hong Kong ................................................................................................... 399,243 16.9 414,484 16.4
Rest of Asia-Pacific27 ................................................................................... 222,139 9.4 225,573 8.9
Middle East27 ................................................................................................ 48,107 2.0 50,952 2.0
North America .............................................................................................. 475,014 20.1 596,302 23.6
Latin America ............................................................................................... 115,967 4.9 102,946 4.1
Intra-HSBC items ......................................................................................... (164,618) (7.0) (254,841) (10.1)
2,364,452 100.0 2,527,465 100.0
For footnotes, see page 149.