HSBC 2010 Annual Report Download - page 60

HSBC HOLDINGS PLC
Report of the Directors: Operating and Financial Review (continued)
Geographical regions > Hong Kong
58
Profit/(loss) before tax and balance sheet data – Hong Kong
2010
Personal
Financial
Services
US$m
Commercial
Banking
US$m
Global
Banking &
Markets
US$m
Global
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination56
US$m
Total
US$m
Profit/(loss) before tax
Net interest income/(expense) .... 2,604 1,106 915 173 (463) (89) 4,246
Net fee income ............................ 1,521 634 630 163 14 – 2,962
Trading income/(expense)
excluding net interest
income .................................... 197 121 681 120 (12) – 1,107
Net interest income on
trading activities ..................... 4 – 100 –12 89 205
Net trading income49 ................... 201 121 781 120 – 89 1,312
Changes in fair value of long-
term debt issued and related
derivatives .............................. – – – – (2) – (2)
Net income/(expense) from
other financial instruments
designated at fair value ........... 328 (10) 61 –1 – 380
Net income/(expense) from
financial instruments
designated at fair value ........... 328 (10) 61 – (1) – 378
Gains less losses from
financial investments .............. – – 56 1 41 – 98
Dividend income ......................... – 1 12 – 17 – 30
Net earned insurance premiums . 3,655 665 12 – – – 4,332
Other operating income .............. 503 68 166 12 1,140 (283) 1,606
Total operating income ............ 8,812 2,585 2,633 469 748 (283) 14,964
Net insurance claims57 ................ (4,193) (559) (10) – – – (4,762)
Net operating income46 ............. 4,619 2,026 2,623 469 748 (283) 10,202
Loan impairment charges and
other credit risk provisions ..... (76) (28) (10) – – – (114)
Net operating income ............... 4,543 1,998 2,613 469 748 (283) 10,088
Total operating expenses ............ (1,630) (653) (1,187) (242) (1,002) 283 (4,431)
Operating profit/(loss) .............. 2,913 1,345 1,426 227 (254) – 5,657
Share of profit in associates
and joint ventures ................... 5 7 4 – 19 – 35
Profit/(loss) before tax .............. 2,918 1,352 1,430 227 (235) – 5,692
% % % %
%
%
Share of HSBC’s profit
before tax ................................ 15.3 7.1 7.5 1.2 (1.2) 29.9
Cost efficiency ratio ................... 35.3 32.2 45.3 51.6 134.0 43.4
Balance sheet data45
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 50,983 48,670 34,491 4,760 1,787 140,691
Total assets61 .............................. 76,665 55,030 223,492 20,598 62,486 (8,706) 429,565
Customer accounts ...................... 176,960 71,209 29,388 19,241 686 297,484