HSBC 2004 Annual Report Download - page 62

HSBC HOLDINGS PLC
Financial Review (continued)
60
Europe
Profit/(loss) before tax excluding goodwill amortisation
Year ended 31 December
2004
US$m
2003
US$m
2002
US$m
Personal Financial Services ......................................................................... 1,719 1,267 987
United Kingdom ............................................................................................ 1,387 1,050 826
France4 ........................................................................................................... 230 165 139
Other .............................................................................................................. 102 52 22
Consumer Finance2 ...................................................................................... 91 157 –
United Kingdom ............................................................................................ 100 157 –
Other .............................................................................................................. (9) ––
Total Personal Financial Services ............................................................... 1,810 1,424 987
United Kingdom ............................................................................................ 1,487 1,207 826
France4 ........................................................................................................... 230 165 139
Other .............................................................................................................. 93 52 22
Commercial Banking .................................................................................. 1,749 1,303 1,344
United Kingdom ............................................................................................ 1,337 939 929
France4 ........................................................................................................... 274 257 325
Other .............................................................................................................. 138 107 90
Corporate, Investment Banking and Markets3 .......................................... 1,772 1,623 1,438
United Kingdom ............................................................................................ 1,112 1,147 1,100
France4 ........................................................................................................... 327 129 165
Other .............................................................................................................. 333 347 173
Private Banking ............................................................................................ 432 339 236
United Kingdom ............................................................................................ 141 73 88
France4 ........................................................................................................... (21) 21 8
Switzerland .................................................................................................... 260 197 100
Other .............................................................................................................. 52 48 40
Other3 ............................................................................................................ 409 173 155
United Kingdom ............................................................................................ 487 259 287
France4 ........................................................................................................... (121) (108) (241)
Other .............................................................................................................. 43 22 109
Total1,3 6,172 4,862 4,160
United Kingdom ............................................................................................ 4,564 3,625 3,230
France4 ........................................................................................................... 689 464 396
Switzerland .................................................................................................... 260 197 100
Other .............................................................................................................. 659 576 434
1 Goodwill amortisation excluded:
– arising on subsidiaries ............................................................................ 947 758 651
– arising on associates and joint ventures ................................................. –135 9
– total ......................................................................................................... 947 893 660
2Comprises HSBC Finance Corporation’s consumer finance business since the date of acquisition.
3Intra-group charges previously netted between countries are reported gross in 2004. Figures for 2003 and 2002 have been restated on a
comparable basis.
4France principally comprises CCF’s domestic operations and the Paris branch of HSBC Bank.