HSBC 2010 Annual Report Download - page 82

HSBC HOLDINGS PLC
Report of the Directors: Operating and Financial Review (continued)
Geographical regions > Latin America // Other information > FUM and assets in custody / Property
80
Profit/(loss) before tax and balance sheet data – Latin America (continued)
2009
Personal
Financial
Services
US$m
Commercial
Banking
US$m
Global
Banking &
Markets
US$m
Global
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination56
US$m
Total
US$m
Profit/(loss) before tax
Net interest income/(expense) .... 3,736 1,544 590 19 (5) (311) 5,573
Net fee income ............................ 948 490 251 28 12 – 1,729
Trading income excluding net
interest income ....................... 25 38 573 3 – – 639
Net interest income/(expense)
on trading activities ................ 4 2 (108) – – 311 209
Net trading income49 ................... 29 40 465 3 – 311 848
Changes in fair value of long-
term debt issued and
related derivatives .................. – – – – – – –
Net income/(expense) from
other financial instruments
designated at fair value ........... 510 12 (38) – 11 – 495
Net income/(expense) from
financial instruments
designated at fair value ........... 510 12 (38) – 11 – 495
Gains less losses from financial
investments ............................. 91 – 77 – – – 168
Dividend income ......................... 9 1 1 – – – 11
Net earned insurance premiums . 1,752 105 43 – – – 1,900
Other operating income/
(expense) ................................ 170 35 24 2 (1) (97) 133
Total operating income ............... 7,245 2,227 1,413 52 17 (97) 10,857
Net insurance claims57 ................ (1,750) (58) (25) – – – (1,833)
Net operating income46 ............... 5,495 2,169 1,388 52 17 (97) 9,024
Loan impairment (charges)/
recoveries and other credit
risk provisions ........................ (2,046) (534) 57 – (3) – (2,526)
Net operating income ................. 3,449 1,635 1,445 52 14 (97) 6,498
Total operating expenses ............ (3,666) (1,236) (514) (41) (15) 97 (5,375)
Operating profit/(loss) ................ (217) 399 931 11 (1) – 1,123
Share of profit in associates
and joint ventures ................... 1 – – – – – 1
Profit/(loss) before tax ................ (216) 399 931 11 (1) – 1,124
% % % % % %
Share of HSBC’s profit
before tax ................................ (3.1) 5.6 13.2 0.2 – 15.9
Cost efficiency ratio ................... 66.7 57.0 37.0 78.8 88.2 59.6
Balance sheet data45
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 19,748 18,205 9,645 31 – 47,629
Total assets ................................. 35,236 23,212 57,491 328 281 (581) 115,967
Customer accounts ...................... 30,628 19,775 20,142 2,344 – 72,889
For footnotes, see page 83.