HSBC 2015 Annual Report Download - page 48

Transaction banking product revenue
($bn)
15.7
15.1
2015
2014
Our global footprint
gives us a strong position
in transaction banking
products, which support
global trade and capital
flows. The scale of our
network means we can
offer these products
to a larger number of
customers, including
companies that operate
in many countries.
Details can be found on pages 14 to 17.
By serving a wide range of customers,
we also create business synergies.
Cross-business synergies come from
providing products from one of our
global businesses to customers of
another. In-business synergies come
from owning our Securities Services
business, and our Asset Management
and Insurance businesses that
manufacture their own products,
and support our global businesses.
We are building on these strengths,
and saw their effects during 2015.
Growth from transaction
banking products
We grew revenue from our transaction
banking products by 4% in 2015 to
$15.7bn, driven in particular by Foreign
Exchange, and Payments and Cash
Management (‘PCM’). In Global
Trade and Receivables Finance, we
maintained revenue despite a decline
of approximately 40% in commodity
prices and stagnant world trade. We
continue to benefit from our presence
along strategic trade corridors and
synergies across global businesses.
Payments and Cash
Management
We increased average deposits by 8%
in 2015, aided by: investment in sales
and client management; new and
enhanced products; and access
through digital channels including
HSBCnet mobile, which is now
available in 34 markets.
Business synergies
We grew business synergy revenue by
$0.6bn to $11.6bn in 2015. In-business
synergies grew 8%, including 7%
growth in Securities Services revenue.
Growth in cross-business synergies
revenue was led by a 7% increase
in revenue from PCM products sold
to GB&M customers.
Business synergies revenue growth
(% change 2014 to 2015)
6%
Value of the
international network
Our international network is a distinctive
advantage and underpins our strategy.
It enables us to serve clients in a
large number of countries.
HSBC HOLDINGS PLC
46