HSBC 2011 Annual Report Download - page 89

87
Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
2010
Retail
Banking
and Wealth
Manage-
ment17
US$m
Commercial
Banking
US$m
Global
Banking
and
Markets17
US$m
Global
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination64
US$m
Total
US$m
Profit/(loss) before tax
Net interest income/(expense) .... 9,912 1,525 952 190 (71) (69) 12,439
Net fee income/(expense) ........... 2,142 534 845 149 (6) – 3,664
Trading income/(expense)
excluding net interest income (472) 17 563 13 (12) – 109
Net interest income on
trading activities ..................... 24 2 93 – 17 69 205
Net trading income/(expense)56 .. (448) 19 656 13 5 69 314
Changes in fair value of long-
term debt issued and related
derivatives .............................. – – – – 111 – 111
Net income/(expense) from
other financial instruments
designated at fair value ........... 6 – (2) – (4) – –
Net income/(expense) from
financial instruments
designated at fair value ........... 6 – (2) – 107 – 111
Gains less losses from
financial investments .............. 5 (6) 141 – 3 – 143
Dividend income ......................... 18 7 12 3 2 – 42
Net earned insurance premiums . 245 – – – – – 245
Other operating income .............. (250) 242 71 15 2,351 (2,196) 233
Total operating income ............... 11,630 2,321 2,675 370 2,391 (2,196) 17,191
Net insurance claims65 ................ (148) – – – 4 – (144)
Net operating income52 ............... 11,482 2,321 2,675 370 2,395 (2,196) 17,047
Loan impairment (charges)/
recoveries and other
credit risk provisions .............. (8,194) (323) 184 38 – – (8,295)
Net operating income ................. 3,288 1,998 2,859 408 2,395 (2,196) 8,752
Total operating expenses ............ (5,408) (1,081) (1,310) (297) (2,422) 2,196 (8,322)
Operating profit/(loss) ................ (2,120) 917 1,549 111 (27) – 430
Share of profit/(loss) in
associates and joint ventures .. 4 22 – – (2) – 24
Profit/(loss) before tax ................ (2,116) 939 1,549 111 (29) – 454
% % % % % %
Share of HSBC’s profit
before tax ................................ (11.1) 5.0 8.1 0.6 (0.2) 2.4
Cost efficiency ratio ................... 47.1 46.6 49.0 80.3 101.1 48.8
Balance sheet data49
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 131,194 30,277 24,338 4,723 – 190,532
Total assets ................................. 154,204 39,213 306,298 5,824 9,373 (22,425) 492,487
Customer accounts ...................... 76,817 46,425 22,324 12,812 108 158,486
For footnotes, see page 95.