HSBC 2015 Annual Report Download - page 94

Report of the Directors: Geographical regions (continued)
Latin America
HSBC HOLDINGS PLC
92
Latin America
Our operations in Latin America principally
comprise HSBC Bank Brasil S.A.-Banco
Múltiplo and HSBC México, S.A. In addition
to banking services, we operate insurance
businesses in Brazil, Mexico and Argentina.
During the year our operations in Brazil were
classified as held for sale.
2015 2014 2013
Total
Latin
America Brazil
Other
Latin
America
Total
Latin
America Brazil
Other
Latin
America
Total
Latin
America Brazil
Other
Latin
America
$m $m $m $m $m $m $m $m $m
Net interest income 4,318 2,225 2,093 5,310 3,040 2,270 6,186 3,542 2,644
Net fee income 1,131 560 571 1,415 741 674 1,701 862 839
Net trading income 664 370 294 856 452 404 936 469 467
Other income 479 429 50 691 584 107 1,745 491 1,254
Net operating income1 6,592 3,584 3,008 8,272 4,817 3,455 10,568 5,364 5,204
LICs34 (1,495) (965) (530) (2,124) (1,500) (624) (2,666) (1,712) (954)
Net operating income 5,097 2,619 2,478 6,148 3,317 2,831 7,902 3,652 4,250
Total operating expenses (4,786) (2,613) (2,173) (5,932) (3,564) (2,368) (5,930) (3,301) (2,629)
Operating profit/(loss) 311 6 305 216 (247) 463 1,972 351 1,621
Income from associates35 (1) (1) −− − − − − −
Profit/(loss) before tax 310 5 305 216 (247) 463 1,972 351 1,621
Loans and advances to customers
(net)
17,293 − 17,293 43,122 23,749 19,373 43,918 24,924 18,994
–
reported in held for sale22 17,001 17,001 −− − − − − −
Customer accounts 21,470 − 21,470 48,588 23,204 25,384 51,389 23,999 27,390
–
reported in held for sale22 15,094 15,094 −− − − − − −
Cost efficiency ratio 72.6% 72.9% 72.2% 71.7% 74.0% 68.5% 56.1% 61.5% 50.5%
RoRWA24 0.4%
–
0.8% 0.2% (0.5%) 1.2% 2.0% 0.7% 3.7%
Year-end staff numbers 39,828 19,145 20,683 41,201 19,564 21,637 42,542 19,869 22,673
For footnotes, see page 99.
Country view of adjusted revenue
2015 2014
$m $m
Argentina 1,036 940
Mexico 1,968 1,931
Other 3,552 3,511
–
included in Other: Brazil 3,550 3,443
Year ended 31 December 6,556 6,382
Profit before tax ($m)
Revenue ($m)
Operating expenses ($m)
For details of significant items, see page 49.
310
216
149 459
42
108 366
2015 2014
6,592
8,272
(36)
6,556
(1,871) (19)
6,382
2015 2014
4,786
5,932
(185)
4,601
(1,373) (125)
4,434
2015 2014
Reported Currency translation Adjusted
Significant items