HSBC 2011 Annual Report Download - page 82

HSBC HOLDINGS PLC
Report of the Directors: Operating and Financial Review (continued)
Geographical regions > Middle East and North Africa
80
Profit/(loss) before tax and balance sheet data – Middle East and North Africa
2011
Retail
Banking
and Wealth
Management
US$m
Commercial
Banking
US$m
Global
Banking
and
Markets
US$m
Global
Private
Banking
US$m
Other
US$m
Inter-
segment
elimination64
US$m
Total
US$m
Profit/(loss) before tax
Net interest income ..................... 589 496 371 2 2 (28) 1,432
Net fee income/(expense) ........... 173 271 173 13 (3) – 627
Trading income/(expense)
excluding net interest
income .................................... 62 95 266 1 (1) – 423
Net interest income/(expense)
on trading activities ................ – – 32 –(1) 28 59
Net trading income/(expense)56 ... 62 95 298 1 (2) 28 482
Net income from financial
instruments designated at
fair value ................................. – – – – 10 – 10
Gains less losses from
financial investments .............. 1 1 (7) – (3) – (8)
Dividend income ......................... 1 1 3 – – – 5
Other operating income/
(expense) ................................ 22 11 11 (1) 124 (108) 59
Total operating income ............ 848 875 849 15 128 (108) 2,607
Net insurance claims65 ................ – – – – – – –
Net operating income52 ............. 848 875 849 15 128 (108) 2,607
Loan impairment charges and
other credit risk provisions ..... (126) (116) (51) – – – (293)
Net operating income ............... 722 759 798 15 128 (108) 2,314
Total operating expenses ............ (535) (320) (295) (21) (96) 108 (1,159)
Operating profit/(loss) .............. 187 439 503 (6) 32 – 1,155
Share of profit in associates
and joint ventures ................... 60 98 140 4 35 – 337
Profit/(loss) before tax .............. 247 537 643 (2) 67 – 1,492
% % % % % %
Share of HSBC’s profit
before tax ................................ 1.1 2.5 2.9 – 0.3 6.8
Cost efficiency ratio ................... 63.1 36.6 34.7 140.0 75.0 44.5
Balance sheet data49
US$m US$m US$m US$m US$m US$m
Loans and advances to
customers (net) ....................... 4,921 12,446 8,479 26 3 25,875
Total assets ................................. 6,549 14,556 34,676 72 4,792 (3,181) 57,464
Customer accounts ...................... 18,549 10,943 6,703 114 113 36,422