HSBC 2001 Annual Report Download - page 22

HSBC HOLDINGS PLC
Description of Business (continued)
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market and insurance operations and brings
significant additions to HSBC’s private banking and
asset management operations in Brazil. Total assets
under management were US$9 billion at 31
December 2001, making HSBC the fifth-largest fund
manager in Brazil.
Argentina
HSBC Bank Argentina S.A. (formerly HSBC Banco
Roberts S.A.) is the sixth-largest private bank in
Argentina in terms of deposits and assets and the
eighth largest in terms of loans. HSBC has a network
of more than 160 offices in Argentina and a total
staff of over 5,000 employees. HSBC also owns one
of the largest insurance businesses in Argentina,
HSBC La Buenos Aires, and through its subsidiaries
HSBC Máxima and HSBC New York Life offers
pensions and life assurance. HSBC’s Argentinian
health care subsidiary, HSBC Salud, provides pre-
paid medical services and is the fourth-largest pre-
paid health care company in Argentina (in terms of
membership) and the leading one in the corporate
market.
Since its founding in 1960, HSBC Bank
Argentina S.A. has maintained its commercial focus
on the upper and middle corporate market and has
developed its retail base in an ever-increasing
market, initially by targeting the management and
employees of its corporate customers. HSBC has
developed a high standard of service for its personal
banking business through the introduction of
automated telephone banking and PC banking, the
expansion of its ATM network and a new home page
(www.hsbc.com.ar).
HSBC Bank Argentina has a network of 67
branches throughout the country and offers a wide
range of financial products and services, specifically
corporate banking, middle market banking, trade
financing, leasing, custody services, treasury and
investment banking and personal banking.
Lines of business
In accordance with its strategy of ‘Managing for
Value’ , HSBC has started to analyse the results of its
businesses by customer segments, products or
management responsibility. This line of business
reporting provides additional and complementary
data to HSBC’s segmental reporting, which is by
geographical region.
Personal Financial Services
The Personal Financial Services segment covers
individual customers, including those who are self-
employed. Internationally oriented high net worth
individuals and their families who choose the
differentiated services offered within Private
Banking are not included in this segment. The
personal customer segment comprises some 29
million customers world-wide. Within this figure,
more than 460,000 are classified as HSBC Premier
customers who represent the most valuable personal
customer segment.
Through its extensive branch network, HSBC
provides a wide range of banking and related
financial services to its personal customers.
Principal products and services for personal
customers include current chequing and savings
accounts, loans and home finance, cards, insurance
and investment services, including securities trading.
Services are increasingly delivered via the telephone
and internet. A comprehensive financial planning
service, covering customers’ investment, retirement
and personal and asset protection needs is offered
through specialist financial planning managers.
HSBC services its most valuable personal
customers through its HSBC Premier service, now
available in 23 countries and territories. The key
components of the HSBC Premier service, in
addition to the standard range of personal banking
products and services, are:
• Dedicated relationship management
• Over 140 HSBC Premier centres world-wide
• 24-hour priority telephone access
• 24-hour global travel assistance
As at 31 December 2001, HSBC had total
personal customer deposits of US$230 billion and
total personal customer loans and advances, net of
suspended interest and provisions for bad and
doubtful debts, of US$115 billion.
HSBC sells and distributes a range of insurance
products, including life, loan protection and ill-health
protection insurance, as well as pensions,
investments and savings, principally through its
locally based banking subsidiaries. HSBC is a broker
for life and pensions insurance, general insurance
and reinsurance and an underwriter for property,
casualty, life, pensions and health insurance. HSBC