HSBC 2009 Annual Report Download - page 99

97
2007
Europe
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 ..................... 6,604 3,419 1,361 793 86 (4,517) 7,746
Net fee income/(expense) ........... 3,060 2,194 2,316 1,032 (171) – 8,431
Trading income excluding net
interest income ....................... 60 36 2,657 161 89 – 3,003
Net interest income/(expense)
on trading activities ................ (7) 30 (610) 9 1 4,517 3,940
Net trading income42 ................... 53 66 2,047 170 90 4,517 6,943
Changes in fair value of long-
term debt issued and
related derivatives .................. – – – – 1,059 – 1,059
Net income/(expense) from
other financial instruments
designated at fair value ........... 126 31 (185) – 195 – 167
Net income/(expense) from
financial instruments
designated at fair value ........... 126 31 (185) – 1,254 – 1,226
Gains less losses from financial
investments ............................. 50 36 1,100 115 25 – 1,326
Dividend income ......................... 1 4 155 7 4 – 171
Net earned insurance premiums . 3,511 521 – – (22) – 4,010
Other operating income/
(expense) ................................ 54 (35) 853 8 301 12 1,193
Total operating income ............... 13,459 6,236 7,647 2,125 1,567 12 31,046
Net insurance claims43 ................ (3,214) (265) – – – – (3,479)
Net operating income16 ............... 10,245 5,971 7,647 2,125 1,567 12 27,567
Loan impairment (charges)/
recoveries and other credit
risk provisions ........................ (2,044) (515) 26 (4) (5) – (2,542)
Net operating income ................. 8,201 5,456 7,673 2,121 1,562 12 25,025
Total operating expenses ............ (6,635) (2,941) (5,150) (1,208) (579) (12) (16,525)
Operating profit .......................... 1,566 2,515 2,523 913 983 – 8,500
Share of profit in associates
and joint ventures ................... 15 1 4 2 73 – 95
Profit before tax .......................... 1,581 2,516 2,527 915 1,056 – 8,595
% % % % % %
Share of HSBC’s profit
before tax ................................ 6.5 10.4 10.4 3.8 4.4 35.5
Cost efficiency ratio .................... 64.8 49.3 67.3 56.8 36.9 59.9
Balance sheet data41
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 151,687 106,846 163,066 30,195 481 452,275
Total assets .................................. 240,361 168,846 912,299 83,740 96,346 (245,372) 1,256,220
Customer accounts ...................... 178,757 99,704 163,713 62,055 725 504,954
For footnotes, see page 149.