HSBC 2002 Annual Report Download - page 128

HSBC HOLDINGS PLC
Financial Review (continued)
126
Europe
Hong
Kong
Rest o
f
Asia-
Pacific
Nort
h
America
Sout
h
America
¶
Total
2001 US$
m
US$
m
US$
m
US$
m
US$
m
US$
m
Provisions at 1 Januar
y
..................................................... 3,025 1,802 2,091 739 540 8,197
Amounts written off:
Banks............................................................................ (5)
–
–
–
–
(5)
Commercial, industrial and international trade.............. (123 ) (238) (256) (107) (29) (753)
Real estate .................................................................... (27 ) (29) (18) (10) (4) (88)
Non-bank financial institutions..................................... (5 ) (53) (5) (3) (1) (67)
Governments ................................................................
–
–
–
–
–
–
Other commercial......................................................... (54) (34) (48) (107) (215) (458)
Residential mortgages................................................... (4 ) (121) (7) (2) (13) (147)
Other personal .............................................................. (224 ) (155) (93) (93) (95) (660)
Total amounts written of
f
.............................................. (442 ) (630) (427) (322) (357) (2,178)
Recoveries of amounts written off in previous years:
Commercial, industrial and international trade.............. 12 1 11 18 3 45
Real Estate 1 2 1
–
–
4
Non-bank financial institutions.....................................
–
31
–
–
4
Governments ................................................................
–
–
–
–
–
–
Other commercial......................................................... 17 12 99 11 1 140
Residential mortgages................................................... 1 5
–
–
–
6
Other personal .............................................................. 34 8 26 14 4 86
Total recoveries ............................................................ 65 31 138 43 8 285
Net charge to profit and loss account:
Banks............................................................................ (1)
–
–
–
–
(1)
Commercial, industrial and international trade.............. 164 15 157 93 55 484
Real estate .................................................................... (35 ) 16 (6) 2 7 (16)
Non-bank financial institutions..................................... (2 ) (20) (14) 2
–
(34)
Governments ................................................................ (2)
–
–
(3 )
–
(5)
Other commercial......................................................... 143 (84) (58) 151 90 242
Residential mortgages................................................... (47 ) 111 10 1 17 92
Other personal .............................................................. 257 168 82 70 125 702
General provisions........................................................ (36) (9) 1 (16) 633 573
Total charge.................................................................. 441 197 172 300 927 2,037
Foreign exchange and other movements........................... (22) 8 (22) (37) (85) (158)
Provisions at 31 Decembe
r
............................................... 3,067 1,408 1,952 723 1,033 8,183
Provisions against banks:
Specific provisions ....................................................... 22
–
–
–
–
22
Provisions against customers:
Specific provisions ....................................................... 2,204 856 1,786 289 365 5,500
General provisions*...................................................... 841 552 166 434 668 2,661
Provisions at 31 Decembe
r
............................................... 3,067 1,408 1,952 723 1,033 8,183
Provisions against customers as a % of gross loans and
advances to customers:
Specific provisions ....................................................... 1.61 1.24 5.44 0.39 7.03 1.73
General provisions........................................................ 0.62 0.80 0.51 0.59 12.87#0.84
Total................................................................................. 2.23 2.04 5.95 0.98 19.90 2.57
*General provisions are allocated to geographical segments based on the location of the office booking the provision. Consequently, the general provision
booked in Hong Kong may cover assets booked in branches located outside Hong Kong, principally in the rest of Asia-Pacific, as well as those booked in
Hong Kong.
#Includes US$600 million of additional general provisions held against Argentine loans.
¶ Formerly described as Latin America, which included group entities in Panama and Mexico, which are now included in North America. Figures for 1998
to 2001 have been restated to reflect this change.