HSBC 2011 Annual Report Download - page 340

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
13 – Segmental analysis
338
Profit/(loss) for the year (continued)
Europe
Hong
Kong
Rest of
Asia-
Pacific MENA
North
America
Latin
America
Intra-
HSBC
items Total
US$m US$m US$m US$m US$m US$m US$m US$m
2009
Net interest income ............................... 12,268 4,195 3,539 1,485 13,670 5,573 – 40,730
Net fee income ...................................... 6,267 2,669 1,557 625 4,817 1,729 – 17,664
Net trading income ............................... 5,459 1,225 1,606 394 331 848 – 9,863
Other income/(expense) ........................ (450) 1,378 1,301 90 (2,513) 874 (2,756) (2,076)
Net operating income1 .......................... 23,544 9,467 8,003 2,594 16,305 9,024 (2,756) 66,181
Loan impairment charges and other
credit risk provisions ........................ (5,568) (500) (896) (1,334) (15,664) (2,526) – (26,488)
Net operating income ............................ 17,976 8,967 7,107 1,260 641 6,498 (2,756) 39,693
Employee compensation and benefits .. (7,174) (2,102) (2,363) (545) (4,085) (2,199) – (18,468)
General and administrative expenses ... (5,775) (1,502) (1,872) (419) (3,794) (2,786) 2,756 (13,392)
Depreciation and impairment of
property, plant and equipment .......... (762) (224) (172) (31) (329) (207) – (1,725)
Amortisation and impairment of
intangible assets ................................ (277) (118) (43) (6) (183) (183) – (810)
Total operating expenses ...................... (13,988) (3,946) (4,450) (1,001) (8,391) (5,375) 2,756 (34,395)
Operating profit/(loss) .......................... 3,988 5,021 2,657 259 (7,750) 1,123 – 5,298
Share of profit in associates and
joint ventures .................................... 21 8 1,543 196 12 1 – 1,781
Profit/(loss) before tax .......................... 4,009 5,029 4,200 455 (7,738) 1,124 – 7,079
Tax income/(expense) ........................... (776) (869) (753) (94) 2,285 (178) – (385)
Profit/(loss) for the year ........................ 3,233 4,160 3,447 361 (5,453) 946 – 6,694
1 Net operating income before loan impairment charges and other credit risk provisions.