HSBC 2011 Annual Report Download - page 67

65
Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
2010
Retail
Banking
and Wealth
Manage-
ment17
US$m
Commercial
Banking
US$m
Global
Banking
and
Markets17
US$m
Global
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination64
US$m
Total
US$m
Profit/(loss) before tax
Net interest income/(expense) .... 5,537 2,774 2,935 871 (654) (213) 11,250
Net fee income ............................ 2,559 1,570 1,320 883 39 – 6,371
Trading income/(expense)
excluding net interest
income .................................... (6) 3 1,541 185 (262) – 1,461
Net interest income/(expense)
on trading activities ................ (1) 19 1,127 21 23 213 1,402
Net trading income/(expense)56 .. (7) 22 2,668 206 (239) 213 2,863
Changes in fair value of long-
term debt issued and related
derivatives .............................. – – – – (365) – (365)
Net income/(expense) from
other financial instruments
designated at fair value ........... 496 113 (23) – 61 – 647
Net income/(expense) from
financial instruments
designated at fair value ........... 496 113 (23) – (304) – 282
Gains less losses from
financial investments .............. (36) – 525 (7) 4 – 486
Dividend income ......................... – 1 16 2 1 – 20
Net earned insurance premiums . 3,800 278 – – (11) – 4,067
Other operating income .............. 187 163 817 7 754 189 2,117
Total operating income/
(expense) ................................ 12,536 4,921 8,258 1,962 (410) 189 27,456
Net insurance claims65 ................ (4,364) (342) – – – – (4,706)
Net operating income/
(expense)52 .............................. 8,172 4,579 8,258 1,962 (410) 189 22,750
Loan impairment (charges)/
recoveries and other credit
risk provisions ........................ (1,217) (997) (783) (26) 3 – (3,020)
Net operating income/
(expense) ................................ 6,955 3,582 7,475 1,936 (407) 189 19,730
Total operating expenses ............ (5,647) (2,378) (4,784) (1,296) (1,151) (189) (15,445)
Operating profit/(loss) ................ 1,308 1,204 2,691 640 (1,558) – 4,285
Share of profit in associates
and joint ventures ................... 4 1 12 – – – 17
Profit/(loss) before tax ................ 1,312 1,205 2,703 640 (1,558) – 4,302
% % % % % %
Share of HSBC’s profit
before tax ................................ 6.9 6.3 14.2 3.4 (8.2) 22.6
Cost efficiency ratio ................... 69.1 51.9 57.9 66.1 (280.7) 67.9
Balance sheet data49
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 145,069 91,744 170,369 27,629 988 435,799
Total assets ................................. 205,032 111,356 962,861 76,631 65,824 (172,177) 1,249,527
Customer accounts ...................... 169,016 96,597 169,836 56,114 – 491,563
For footnotes, see page 95.