HSBC 2012 Annual Report Download - page 29

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Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
We use underlying performance when
monitoring progress against operating plans and
past results because we believe that this basis more
appropriately reflects operating performance. We
use underlying performance in our commentaries to
explain year-on-year changes when the effect of fair
value movements on own debt, acquisitions,
disposals or dilution is significant.
The following acquisitions, disposals and
changes to ownership levels affected the underlying
performance:
Disposal gains/(losses) affecting underlying performance
Date
Disposal
gain/(loss)
US$m
HSBC Financial Services (Middle East) Limited’s disposal of majority stake in HSBC Private Equity
Middle East Limited..................................................................................................................................... Jun 2011 (7)
Dilution gain on our holding in Ping An following the issue of share capital to a third party ...................... Jun 2011 181
Grupo Financiero HSBC, S.A. de C.V.’s disposal of HSBC Afore S.A. de C.V.30 ....................................... Aug 2011 83
Dilution gain as a result of the merger between HSBC Saudi Arabia Limited and SABB Securities Limited Dec 2011 27
HSBC Bank Canada’s disposal of HSBC Securities (Canada) Inc’s full service retail brokerage business30 Jan 2012 83
The Hongkong and Shanghai Banking Corporation Limited’s disposal of RBWM operations in Thailand30 Mar 2012 108
HSBC Finance Corporation, HSBC USA Inc. and HSBC Technology and Services (USA) Inc.’s
disposal of US Card and Retail Services business30 ................................................................................... May 2012 3,148
HSBC Bank USA, N.A.’s disposal of 138 non-strategic branches30 .............................................................. May 2012 661
HSBC Argentina Holdings S.A.’s disposal of its general insurance manufacturing subsidiary30 ................. May 2012 102
The Hongkong and Shanghai Banking Corporation Limited’s disposal of its private banking business
in Japan30 ..................................................................................................................................................... Jun 2012 67
The Hongkong and Shanghai Banking Corporation Limited’s disposal of its shareholding in a property
company in the Philippines ......................................................................................................................... Jun 2012 130
HSBC Bank USA, N.A.’s disposal of 57 non-strategic branches30 ................................................................ Aug 2012 203
Hang Seng Bank Limited’s disposal of its general insurance manufacturing subsidiary30 ............................ Jul 2012 46
HSBC Asia Holdings B.V.’s investment loss on a subsidiary30 ..................................................................... Aug 2012 (85)
HSBC Bank plc’s disposal of HSBC Securities SA ....................................................................................... Aug 2012 (11)
HSBC Europe ( Netherlands) B.V.’s disposal of HSBC Credit Zrt ............................................................... Aug 2012 (2)
HSBC Europe ( Netherlands) B.V.’s disposal of HSBC Insurance (Ireland) Limited ................................... Oct 2012 (12)
HSBC Europe ( Netherlands) B.V.’s disposal of HSBC Reinsurance Limited ............................................ Oct 2012 7
HSBC Private Bank (UK) Limited’s disposal of Property Vision Holdings Limited .................................... Oct 2012 (1)
HSBC Investment Bank Holdings Limited’s disposal of its stake in Havas Havalimanlari Yer Hizmetleri
Yatirim Holding Anonim Sirketi ................................................................................................................ Oct 2012 18
HSBC Insurance (Asia) Limited’s disposal of its general insurance portfolios30 .......................................... Nov 2012 117
HSBC Bank plc’s disposal of HSBC Shipping Services Limited .................................................................. Nov 2012 (2)
HSBC Bank (Panama) S.A.’s disposal of its operations in Costa Rica, El Salvador and Honduras30 ........... Dec 2012 (62)
HSBC Insurance Holdings Limited and The Hongkong and Shanghai Banking Corporation Limited’s
disposal of their shares in Ping An30 ........................................................................................................... Dec 2012 3,012
The Hongkong and Shanghai Banking Corporation Limited’s disposal of its shareholding in Global
Payments Asia-Pacific Limited30 ................................................................................................................ Dec 2012 212
For footnote, see page 120.
Acquisition gains/(losses) affecting the underlying performance
Date
Fair value gain
on acquisition
US$m
Our share of the loss recorded by Ping An on re-measurement of its previously held equity interest in Ping
An bank (formerly known as Shenzhen Development Bank) when Ping An took control and fully
consolidated Ping An Bank ......................................................................................................................... Jul 2011 (48)
Gain on the merger of Oman International Bank S.A.O.G. and the Omani operations of
HSBC Bank Middle East Limited ............................................................................................................... Jun 2012 3
Gain on the acquisition of the onshore retail and commercial banking business of Lloyds Banking Group in
the UAE by HSBC Bank Middle East Limited .......................................................................................... Oct 2012 18