HSBC 2004 Annual Report Download - page 63

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Profit before tax
Year ended 31 December
2004 2003 2002
Europe US$m US$m US$m
Net interest income ...................................................................................... 9,062 7,540 6,343
Dividend income ............................................................................................ 545 150 211
Net fees and commissions .............................................................................. 6,295 5,192 4,528
Dealing profits ............................................................................................... 953 960 508
Other income ................................................................................................. 1,592 1,253 1,025
Other operating income .................................................................................. 9,385 7,555 6,272
Total operating income ................................................................................ 18,447 15,095 12,615
Staff costs ...................................................................................................... (6,583) (5,576) (4,425)
Premises and equipment ................................................................................. (1,235) (1,058) (966)
Other .............................................................................................................. (2,743) (2,068) (1,763)
Depreciation and intangible asset amortisation .............................................. (1,009) (827) (724)
(11,570) (9,529) (7,878)
Goodwill amortisation ................................................................................... (947) (758) (651)
Operating expenses ........................................................................................ (12,517) (10,287) (8,529)
Operating profit before provisions ............................................................. 5,930 4,808 4,086
Provisions for bad and doubtful debts ............................................................ (1,025) (874) (569)
Provisions for contingent liabilities and commitments ................................... (12) (33) (15)
Amounts written off fixed asset investments ................................................. (20) (64) (267)
Operating profit ........................................................................................... 4,873 3,837 3,235
Share of operating profit/(loss) in joint venture ............................................. 5(127) (26)
Share of operating profit in associates ............................................................ 54 47 3
Gains on disposal of investments and tangible fixed assets ............................ 293 212 288
Profit on ordinary activities before tax ...................................................... 5,225 3,969 3,500
%%%
Share of HSBC’ s pre-tax profits (excluding goodwill amortisation) .............. 31.7 33.7 39.5
Share of HSBC’ s pre-tax profits .................................................................... 29.6 30.9 36.3
Cost:income ratio (excluding goodwill amortisation) .................................... 62.7 63.1 62.4
Period-end staff numbers (full-time equivalent) ............................................. 74,861 73,943 72,260
US$m US$m US$m
Selected balance sheet data1
Loans and advances to customers (net) .......................................................... 274,160 210,605 164,701
Loans and advances to banks (net) ................................................................. 55,859 51,783 39,373
Debt securities, treasury bills and other eligible bills ..................................... 112,894 82,656 71,446
Total assets .................................................................................................... 539,116 425,312 341,569
Deposits by banks .......................................................................................... 55,204 47,500 34,559
Customer accounts ......................................................................................... 292,913 242,724 197,362
1 Third party only.