HSBC 2006 Annual Report Download - page 91

89
Year ended 31 December 20054
North America
Personal
Financial
Services
US$m
Commercial
Banking
US$m
Corporate,
Investment
Banking &
Markets
US$m
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination
US$m
Total
US$m
Net interest income/(expense) .... 11,636 1,157 661 185 (114) (230) 13,295
Net fee income/(expense) ........... 3,050 283 577 200 (158) – 3,952
Trading income excluding net
interest income ....................... 119 7 95 7 22 – 250
Net interest income/(expense)
on trading activities ................ 210 (4) 221 (1) (21) 230 635
Net trading income ..................... 329 3 316 6 1 230 885
Net income/(expense) from
financial instruments
designated at fair value ........... 10 – 23 (1) 402 – 434
Gains less losses from financial
investments ............................. (12) 1 57 – 1 – 47
Dividend income ......................... 8 – 33 – – – 41
Net earned insurance premiums . 478 – – – (1) – 477
Other operating income .............. 232 87 179 34 1,280 (1,170) 642
Total operating income ............... 15,731 1,531 1,846 424 1,411 (1,170) 19,773
Net insurance claims1 ................. (232) – – – – – (232)
Net operating income before
loan impairment charges and
other credit risk provisions ..... 15,499 1,531 1,846 424 1,411 (1,170) 19,541
Loan impairment (charges)/
recoveries and other credit
risk provisions ........................ (5,001) 21 64 4 (4) – (4,916)
Net operating income ................. 10,498 1,552 1,910 428 1,407 (1,170) 14,625
Total operating expenses ............ (6,317) (660) (1,376) (324) (1,251) 1,170 (8,758)
Operating profit .......................... 4,181 892 534 104 156 – 5,867
Share of profit in associates
and joint ventures ................... – – 39 – 9 – 48
Profit before tax .......................... 4,181 892 573 104 165 – 5,915
% % % % % %
Share of HSBC’s profit
before tax ................................ 19.9 4.3 2.7 0.5 0.8 28.2
Cost efficiency ratio ................... 40.8 43.1 74.5 76.4 88.7 44.8
US$m US$m US$m US$m US$m US$m
Selected balance sheet data2
Loans and advances to
customers (net) ....................... 207,598 29,666 10,381 4,915 – 252,560
Total assets ................................. 240,474 36,570 149,623 5,823 – 432,490
Customer accounts ...................... 44,769 25,585 31,442 9,589 1 111,386
The following assets and
liabilities were significant
to Corporate, Investment
Banking and Markets:
– loans and advances to
banks (net) .......................... 9,979
– trading assets, financial
instruments designated at
fair value, and financial
investments3 ....................... 102,732
– deposits by banks ............... 7,506