HSBC 2011 Annual Report Download - page 95

93
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$m
Profit before tax
Net interest income ..................... 3,979 1,671 772 20 121 (252) 6,311
Net fee income/(expense) ........... 1,006 526 191 32 (6) – 1,749
Trading income/(expense)
excluding net interest income 35 72 370 3 (27) – 453
Net interest income on
trading activities ..................... – – 28 – – 252 280
Net trading income/(expense)56 .. 35 72 398 3 (27) 252 733
Net income from financial
instruments designated
at fair value ............................. 339 85 1 – – – 425
Gains less losses from
financial investments .............. 6 2 93 – (3) – 98
Dividend income ......................... 7 2 3 – – – 12
Net earned insurance premiums . 1,651 374 29 – – – 2,054
Other operating income .............. 98 34 15 2 221 (229) 141
Total operating income ............... 7,121 2,766 1,502 57 306 (229) 11,523
Net insurance claims65 ................ (1,479) (297) (16) – – – (1,792)
Net operating income52 ............... 5,642 2,469 1,486 57 306 (229) 9,731
Loan impairment charges and
other credit risk provisions ..... (1,247) (293) (4) – – – (1,544)
Net operating income ................. 4,395 2,176 1,482 57 306 (229) 8,187
Total operating expenses ............ (4,034) (1,623) (653) (47) (266) 229 (6,394)
Operating profit .......................... 361 553 829 10 40 – 1,793
Share of profit in associates
and joint ventures ................... 1 1 – – – – 2
Profit before tax .......................... 362 554 829 10 40 – 1,795
% % % % % %
Share of HSBC’s profit
before tax ................................ 1.9 2.9 4.3 0.1 0.2 9.4
Cost efficiency ratio ................... 71.5 65.7 43.9 82.5 86.9 65.7
Balance sheet data49
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 20,823 24,879 12,242 43 – 57,987
Total assets ................................. 38,819 35,619 64,635 1,608 196 (939) 139,938
Customer accounts ...................... 30,149 24,514 27,810 6,053 – 88,526
For footnotes, see page 95.