HSBC 2008 Annual Report Download - page 101

99
Hong Kong
Profit/(loss) before tax by customer group and global business
2008
US$m
2007
US$m
2006
US$m
Personal Financial Services ............................................................................. 3,428 4,212 2,880
Commercial Banking ....................................................................................... 1,315 1,619 1,321
Global Banking and Markets ........................................................................... 1,436 1,578 955
Private Banking ............................................................................................... 237 305 201
Other ................................................................................................................ (955) (375) (175)
5,461 7,339 5,182
Profit before tax
2008
US$m
2007
US$m
2006
US$m
Net interest income .......................................................................................... 5,698 5,483 4,685
Net fee income ................................................................................................. 2,580 3,362 2,056
Net trading income .......................................................................................... 1,193 1,242 617
Changes in fair value of long-term debt issued and related derivatives ......... 32 –
Net income/(expense) from other financial instruments designated at fair
value ............................................................................................................ (1,194) 674 260
Net income/(expense) from financial instruments designated at fair value ... (1,191) 676 260
Gains less losses from financial investments .................................................. (309) 94 162
Dividend income .............................................................................................. 41 31 61
Net earned insurance premiums ...................................................................... 3,247 2,797 2,628
Other operating income ................................................................................... 817 845 834
Total operating income ................................................................................. 12,076 14,530 11,303
Net insurance claims incurred and movement in liabilities
to policyholders ........................................................................................... (1,922) (3,208) (2,699)
Net operating income before loan impairment charges and other
credit risk provisions ................................................................................. 10,154 11,322 8,604
Loan impairment charges and other credit risk provisions ............................. (765) (231) (172)
Net operating income .................................................................................... 9,389 11,091 8,432
Total operating expenses ................................................................................. (3,943) (3,780) (3,269)
Operating profit ............................................................................................. 5,446 7,311 5,163
Share of profit in associates and joint ventures ............................................... 15 28 19
Profit before tax ............................................................................................. 5,461 7,339 5,182
% % %
Share of HSBC’s profit before tax .................................................................. 58.7 30.3 23.5
Cost efficiency ratio ........................................................................................ 38.8 33.4 38.0
Year-end staff numbers (full-time equivalent) ................................................ 29,330 27,655 27,586
Balance sheet data15
At 31 December
2008 2007 2006
US$m US$m US$m
Loans and advances to customers (net) ........................................................... 100,220 89,638 84,282
Loans and advances to banks (net) .................................................................. 29,646 63,737 50,359
Trading assets, financial assets designated at fair value, and
financial investments ................................................................................... 122,602 102,180 103,734
Total assets ...................................................................................................... 407,151 356,894 318,857
Deposits by banks ............................................................................................ 11,769 6,420 4,799
Customer accounts ........................................................................................... 250,517 234,488 196,691
For footnote, see page 143.
All commentaries on Hong Kong are on an underlying basis unless stated otherwise.