HSBC 2002 Annual Report Download - page 110

HSBC HOLDINGS PLC
Financial Review (continued)
108
Year ended
31 December 2002
Year ended
31 December 2001
Year ended
31 December 2000
Average
balance
Interest
expense Cost
Average
balance
Interest
Expense Cost
Average
Balance
Interest
expense Cost
Liabilities and shareholders’ funds
(continued) US$m US$m % US$m US$m % US$m US$m %
Total interest-bearing liabilities
Europe HSBC Bank plc............... 154,707 3,726 2.41 125,611 4,966 3.95 122,663 6,034 4.92
HSBC Private Banking
Holdings...................... 24,097 646 2.68 23,699 1,072 4.52 19,510 1,106 5.67
CCF................................. 44,819 1,708 3.81 44,549 2,318 5.20 22,415 1,265 5.64
Hong Kong Hang Seng Bank.............. 50,991 533 1.05 53,007 1,647 3.11 50,510 2,595 5.14
The Hongkong and
Shanghai Banking
Corporation Limited.... 99,471 1,171 1.18 96,440 2,939 3.05 89,207 4,518 5.08
Rest of Asia-
Pacific
The Hongkong and
Shanghai Banking
Corporation Limited.... 43,202 1,084 2.51 37,116 1,461 3.94 34,607 1,706 4.93
HSBC Bank Malaysia
Berhad......................... 4,659 142 3.05 4,649 153 3.29 4,666 159 3.40
HSBC Bank Middle East. 6,886 127 1.84 6,672 268 4.02 6,359 358 5.63
North America HSBC USA Inc ............... 64,881 1,462 2.25 62,943 2,543 4.04 61,972 3,190 5.15
HSBC Bank Canada ....... 17,984 419 2.33 17,154 692 4.03 16,311 832 5.10
HSBC Markets Inc. ......... 29,303 988 3.37 28,042 1,149 4.10 19,852 1,046 5.27
South America HSBC Bank Brasil .......... 4,550 707 15.54 6,133 852 13.89 5,581 716 12.83
HSBC Bank
Argentina S.A............... 1,644 350 21.29 3,730 319 8.55 3,775 282 7.47
Other operations..........................................
(
6,945
)
72
(
1.04)5,052 157 3.11 3,587 216 6.03
540,249 13,135 2.43 514,797 20,536 3.99 461,015 24,023 5.21
Total interest-bearing liabilities................... 540,249 13,135 2.43 514,797 20,536 3.99 461,015 24,023 5.21
Non interest-bearing current accounts......... 40,220 36,090 27,199
Shareholders’ funds & other non interest-
bearing liabilities*................................... 153,369 146,252 127,471
Total liabilities & interest expense* ............ 733,838 13,135 1.79 697,139 20,536 2.95 615,685 24,023 3.90
* Figures for 2001 have been restated to reflect the adoption of UK Financial Reporting Standard 19 ‘Deferred Tax’, details of which
are set out in Note 1 on the Summary Financial Statements on pages 195 to 197.