HSBC 2012 Annual Report Download - page 118

HSBC HOLDINGS PLC
Report of the Directors: Operating and Financial Review (continued)
Geographical regions > Latin America / Disposals, held for sale and run-off portfolios
116
Profit/(loss) before tax and balance sheet data - Latin America (continued)
2011
Retail
Banking
and Wealth
Management
US$m
Commercial
Banking
US$m
Global
Banking
and
Markets
US$m
Global
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination85
US$m
Total
US$m
Profit/(loss) before tax
Net interest income/(expense) .... 4,519 2,229 882 25 (7) (692) 6,956
Net fee income ............................ 939 610 196 36 – – 1,781
Trading income/(expense)
excluding net interest income 68 106 372 5 (7) – 544
Net interest income on
trading activities ..................... – – 134 – 8 692 834
Net trading income78 ................... 68 106 506 5 1 692 1,378
Changes in fair value of long-
term debt issued and related
derivatives .............................. – – – – – – –
Net income from other financial
instruments designated at
fair value ................................. 424 124 2 – – – 550
Net income from financial
instruments designated at
fair value ................................. 424 124 2 – – – 550
Gains less losses from
financial investments .............. 11 1 124 1 – – 137
Dividend income ......................... 10 3 1 – – – 14
Net earned insurance premiums . 2,068 551 34 – – – 2,653
Other operating income .............. 265 57 32 2 222 (250) 328
Total operating income ............... 8,304 3,681 1,777 69 216 (250) 13,797
Net insurance claims86 ................ (1,850) (478) (16) – – – (2,344)
Net operating income21 ............... 6,454 3,203 1,761 69 216 (250) 11,453
Loan impairment charges and
other credit risk provisions ..... (1,369) (501) (12) – (1) – (1,883)
Net operating income ................. 5,085 2,702 1,749 69 215 (250) 9,570
Total operating expenses ............ (4,382) (1,835) (700) (49) (539) 250 (7,255)
Operating profit/(loss) ................ 703 867 1,049 20 (324) – 2,315
Share of profit in associates
and joint ventures ................... – – – – – – –
Profit/(loss) before tax ................ 703 867 1,049 20 (324) – 2,315
% % % % % %
Share of HSBC’s profit
before tax ................................ 3.2 4.0 4.8 0.1 (1.5) 10.6
Cost efficiency ratio ................... 67.9 57.3 39.8 71.0 249.5 63.3
Balance sheet data74
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 19,025 25,834 11,011 62 6 55,938
Total assets ................................. 39,231 38,410 66,241 1,660 417 (1,070) 144,889
Customer accounts ...................... 28,629 24,050 18,940 7,079 62 78,760
For footnotes, see page 120.