HSBC 2012 Annual Report Download - page 430

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
12 – Segmental analysis
428
Profit/(loss) for the year
Europe
Hong
Kong
Rest of
Asia-
Pacific MENA
North
America
Latin
America
Intra-
HSBC
items Total
US$m US$m US$m US$m US$m US$m US$m US$m
2012
Net interest income ............................... 10,394 5,316 5,391 1,470 8,117 6,984 – 37,672
Net fee income ...................................... 6,169 3,335 2,083 595 2,513 1,735 – 16,430
Net trading income/(expense) ............... 2,707 1,463 1,053 390 507 971 – 7,091
Gains on disposal of US branch
network, US cards business and
Ping An ............................................. − − 3,012 – 4,012 – − 7,024
Other income ........................................ (1,662) 2,308 2,045 (25) (456) 1,261 (3,358) 113
Net operating income1 .......................... 17,608 12,422 13,584 2,430 14,693 10,951 (3,358) 68,330
Loan impairment charges and other
credit risk provisions ........................ (1,921) (74) (436) (286) (3,457) (2,137) – (8,311)
Net operating income ............................ 15,687 12,348 13,148 2,144 11,236 8,814 (3,358) 60,019
Employee compensation and benefits .. (8,070) (2,572) (3,140) (652) (3,243) (2,814) – (20,491)
General and administrative expenses ... (10,059) (1,860) (2,433) (459) (5,413) (3,117) 3,358 (19,983)
Depreciation and impairment of
property, plant and equipment .......... (597) (236) (191) (44) (195) (221) – (1,484)
Amortisation and impairment of
intangible assets ................................ (369) (180) (42) (11) (89) (278) – (969)
Total operating expenses ...................... (19,095) (4,848) (5,806) (1,166) (8,940) (6,430) 3,358 (42,927)
Operating profit .................................... (3,408) 7,500 7,342 978 2,296 2,384 − 17,092
Share of profit in associates and joint
ventures ............................................ (6) 82 3,106 372 3 – – 3,557
Profit before tax .................................... (3,414) 7,582 10,448 1,350 2,299 2,384 – 20,649
Tax income/(expense) ........................... (173) (1,095) (1,616) (254) (1,313) (864) – (5,315)
Profit for the year .................................. (3,587) 6,487 8,832 1,096 986 1,520 – 15,334
2011
Net interest income ............................... 11,001 4,691 5,102 1,432 11,480 6,956 – 40,662
Net fee income ...................................... 6,236 3,097 2,111 627 3,308 1,781 – 17,160
Net trading income/(expense) ............... 2,161 1,189 1,658 482 (362) 1,378 – 6,506
Other income ........................................ 4,848 1,705 1,842 66 1,574 1,338 (3,421) 7,952
Net operating income1 .......................... 24,246 10,682 10,713 2,607 16,000 11,453 (3,421) 72,280
Loan impairment charges and other
credit risk provisions ........................ (2,512) (156) (267) (293) (7,016) (1,883) – (12,127)
Net operating income ............................ 21,734 10,526 10,446 2,314 8,984 9,570 (3,421) 60,153
Employee compensation and benefits .. (7,621) (2,610) (3,179) (659) (3,928) (3,169) – (21,166)
General and administrative expenses ... (8,473) (1,724) (2,378) (458) (4,404) (3,443) 3,421 (17,459)
Depreciation and impairment of
property, plant and equipment .......... (581) (245) (198) (36) (261) (249) – (1,570)
Amortisation and impairment of
intangible assets ................................ (394) (179) (51) (6) (326) (394) – (1,350)
Total operating expenses ...................... (17,069) (4,758) (5,806) (1,159) (8,919) (7,255) 3,421 (41,545)
Operating profit .................................... 4,665 5,768 4,640 1,155 65 2,315 – 18,608
Share of profit in associates and joint
ventures ............................................ 6 55 2,831 337 35 – – 3,264
Profit before tax .................................... 4,671 5,823 7,471 1,492 100 2,315 – 21,872
Tax income/(expense) ........................... (1,589) (1,043) (1,315) (266) 958 (673) – (3,928)
Profit for the year .................................. 3,082 4,780 6,156 1,226 1,058 1,642 – 17,944