HSBC 2002 Annual Report Download - page 111

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Year ended 31 December
2002 2001 2000
Net interest margin % %%
Europe HSBC Bank plc ............... 2.72 2.80 2.67
HSBC Private Banking
Holdings ...................... 0.75 0.90 1.27
CCF ................................. 1.81 1.61 1.50
Hong Kong Hang Seng Bank.............. 2.46 2.56 2.68
The Hongkong and
Shanghai Banking
Corporation Limited.... 2.47 2.48 2.47
Rest of Asia-
Pacific
The Hongkong and
Shanghai Banking
Corporation Limited.... 2.20 2.23 2.18
HSBC Bank Malaysia
Berhad ......................... 2.76 2.76 2.71
HSBC Bank Middle East. 3.78 3.84 3.96
North America HSBC USA Inc................ 3.07 2.76 2.54
HSBC Bank Canada ........ 2.68 2.55 2.49
HSBC Markets Inc........... -0.24 0.00 0.23
South America HSBC Bank Brasil........... 11.85 9.99 12.60
HSBC Bank
Argentina S.A............... -2.71 5.65 5.55
Other operations .......................................... 24.77 6.12 7.80
HSBC margin.............................................. 2.54 2.54 2.66
Notes
(i) Average balances are based on daily averages for the principal areas of HSBC’s banking activities with monthly or less frequent
averages used elsewhere.
(ii) ‘Loans accounted for on a non-accrual basis’ and ‘Loans on which interest has been accrued but suspended’ have been included in
‘Loans and advances to banks’ and ‘Loans and advances to customers’. Interest income on such loans is included in the
consolidated profit and loss account to the extent it has been received.
(iii) Balances and transactions with fellow subsidiaries are reported gross in the principal commercial banking entities within ‘Other
interest-earning assets’ and ‘Other interest bearing-liabilities’ as appropriate and the elimination entries included within ‘Other
operations’ in those two categories.
(iv) Other than as noted in (iii) above, ‘Other operations’ comprise the operations of the principal commercial banking entities outside
their domestic markets and all other banking operations.
(v) Non-equity minority interests are included within shareholders’ funds and other non interest-bearing liabilities and the related
coupon payments are included within minority interests in the profit and loss account.