HSBC 2009 Annual Report Download - page 118

HSBC HOLDINGS PLC
Report of the Directors: Operating and Financial Review (continued)
Geographical regions > Rest of Asia-Pacific > Profit before tax by customer group // Middle East
116
Profit before tax (continued)
2007
Rest of Asia-Pacific27
Personal
Financial
Services
US$m
Commercial
Banking
US$m
Global
Banking &
Markets
US$m
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination50
US$m
Total
US$m
Net interest income ..................... 1,507 750 1,035 59 135 (437) 3,049
Net fee income ............................ 594 265 820 82 14 – 1,775
Trading income/(expense)
excluding net interest income 42 86 817 71 (70) – 946
Net interest income/(expense)
on trading activities ................ (2) – (21) – (14) 437 400
Net trading income/(expense)42 ... 40 86 796 71 (84) 437 1,346
Changes in fair value of long-
term debt issued and related
derivatives .............................. – – – – 1 – 1
Net income/(expense) from
other financial instruments
designated at fair value ........... 73 4 (3) (1) 37 – 110
Net income/(expense) from
financial instruments
designated at fair value ........... 73 4 (3) (1) 38 – 111
Gains less losses from
financial investments .............. 3 4 28 – 1 – 36
Gains arising from dilution of
interests in associates ............. – – – – 1,081 – 1,081
Dividend income ......................... – – – – 6 – 6
Net earned insurance premiums . 209 16 – – 1 – 226
Other operating income .............. 18 3 44 1 848 (133) 781
Total operating income ............... 2,444 1,128 2,720 212 2,040 (133) 8,411
Net insurance claims43 ................ (246) (7) – – – – (253)
Net operating income16 ............... 2,198 1,121 2,720 212 2,040 (133) 8,158
Loan impairment charges and
other credit risk provisions ..... (486) (72) (3) – – – (561)
Net operating income ................. 1,712 1,049 2,717 212 2,040 (133) 7,597
Total operating expenses ............ (1,713) (532) (969) (123) (787) 133 (3,991)
Operating profit .......................... (1) 517 1,748 89 1,253 – 3,606
Share of profit in associates
and joint ventures ................... 516 351 221 – 8 – 1,096
Profit before tax .......................... 515 868 1,969 89 1,261 – 4,702
% % % % % %
Share of HSBC’s profit
before tax ................................ 2.1 3.6 8.1 0.4 5.2 19.4
Cost efficiency ratio ................... 77.9 47.5 35.6 58.0 38.6 48.9
Balance sheet data41
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 29,313 21,397 26,476 2,913 146 80,245
Total assets ................................. 36,292 27,524 130,096 9,245 9,487 (4,449) 208,195
Customer accounts ...................... 38,625 25,306 45,773 9,491 101 119,296
For footnotes, see page 149.