HSBC 2015 Annual Report Download - page 91

HSBC HOLDINGS PLC
89
Strategic Report Financial Review Corporate Governance Financial Statements Shareholder Information
North America
Our principal North American businesses are
located in the US and Canada. Operations in
the US are primarily conducted through HSBC
Bank USA, N.A., and HSBC Finance, a national
consumer finance company. HSBC Markets
(USA) Inc. is the intermediate holding company
of, inter alia, HSBC Securities (USA) Inc.
Canadian operations are conducted through
HSBC Bank Canada.
2015 2014 2013
$m $m $m
Net interest income 4,532 5,015 5,742
Net fee income 2,018 1,940 2,143
Net trading income 545 411 948
Other income/(expense) 562 786 (30)
Net operating income1 7,657 8,152 8,803
LICs34 (544) (322) (1,197)
Net operating income 7,113 7,830 7,606
Total operating expenses (6,501) (6,429) (6,416)
Operating profit 612 1,401 1,190
Income from associates35 2 16 31
Profit before tax 614 1,417 1,221
Cost efficiency ratio 84.9% 78.9% 72.9%
RoRWA24 0.3% 0.6% 0.5%
Year-end staff numbers 19,656 20,412 20,871
For footnotes, see page 99.
Country view of adjusted revenue
2015 2014
$m $m
US 5,926 6,083
Canada 1,585 1,663
Other 244 270
Year ended 31 December 7,755 8,016
Profit before tax ($m)
Revenue ($m)
Operating expenses ($m)
For details of significant items, see page 77.
Profit/(loss) before tax by country within global businesses
Retail
Banking
and Wealth
Management
$m
Commercial
Banking
$m
Global
Banking and
Markets
$m
Global
Private
Banking
$m
Other
$m
Total
$m
US (736) 302 355 65 55 41
Canada 58 259 189 −(21) 485
Other 33 12 49 (6) − 88
Year ended 31 December 2015 (645) 573 593 59 34 614
US 513 400 (403) 82 (60) 532
Canada 96 514 242 −(23) 829
Other 23 (1) 49 3 (18) 56
Year ended 31 December 2014 632 913 (112) 85 (101) 1,417
US (358) 296 633 53 (350) 274
Canada 131 506 280 −(3) 914
Other 20 (16) 16 4 9 33
Year ended 31 December 2013 (207) 786 929 57 (344) 1,221
614
1,417
949 1,563
(112)
694 1,999
2015 2014
7,657
8,152
98 7,755
(252)
116 8,016
2015 2014
6,501 6,429
(851)
5,650 (129)
(578)
5,722
2015 2014
Reported Currency translation Adjusted
Significant items