Annual Financial Report - 12 of 60

RNS Number : 1504D

HSBC Holdings PLC

25 March 2014

 



Analysis by global business

HSBC profit/(loss) before tax and balance sheet data

	2013
	Retail    Banking             and Wealth Management         US$m		Commercial    Banking         US$m		Global    Banking and     Markets         US$m		Global Private    Banking         US$m		Other39        US$m		Inter-    segment elimination49        US$m		Total         US$m
Profit/(loss) before tax
Net interest income/(expense)	18,339		10,200		6,766		1,146		(737)		(175)		35,539
Net fee income ......................	7,021		4,717		3,482		1,150		64		−		16,434
Trading income/(expense) excluding net interest income ...............................	689		649		4,953		390		(38)		−		6,643
Net interest income/(expense) on trading activities ............	(3)		−		1,827		4		44		175		2,047
Net trading income44 ..............	686		649		6,780		394		6		175		8,690
Changes in fair value of long- term debt issued and related derivatives ..........................	−		-		-		-		(1,228)		-		(1,228)
Net income/(expense) from other financial instruments designated at fair value .......	1,638		332		599		4		(576)		(1)		1,996
Net income/(expense) from financial instruments designated at fair value .......	1,638		332		599		4		(1,804)		(1)		768
Gains less losses from financial investments .........	55		1		747		(3)		1,212		−		2,012
Dividend income ....................	21		15		129		8		149		−		322
Net earned insurance premiums	10,543		1,375		6		16		−		−		11,940
Other operating income/ (expense) ...........................	544		621		670		(239)		6,761		(5,725)		2,632
Total operating income ......	38,847		17,910		19,179		2,476		5,651		(5,726)		78,337
Net insurance claims50 ............	(12,107)		(1,545)		(3)		(37)		−		−		(13,692)
Net operating income4 .......	26,740		16,365		19,176		2,439		5,651		(5,726)		64,645
Loan impairment charges and other credit risk provisions .	(3,227)		(2,384)		(207)		(31)		−		−		(5,849)
Net operating income .........	23,513		13,981		18,969		2,408		5,651		(5,726)		58,796
Employee expenses51 .............	(5,219)		(2,327)		(3,549)		(776)		(7,325)		−		(19,196)
Other operating expenses .......	(12,029)		(4,722)		(6,411)		(1,453)		(471)		5,726		(19,360)
Total operating expenses .......	(17,248)		(7,049)		(9,960)		(2,229)		(7,796)		5,726		(38,556)
Operating profit/(loss) .......	6,265		6,932		9,009		179		(2,145)		−		20,240
Share of profit/(loss) in associates and joint ventures	384		1,509		432		14		(14)		−		2,325
Profit/(loss) before tax .......	6,649		8,441		9,441		193		(2,159)		−		22,565
	%		%		%		%		%				%
Share of HSBC's profit before tax ...........................	29.5		37.4		41.8		0.9		(9.6)				100.0
Cost efficiency ratio ..............	64.5		43.1		51.9		91.4		138.0				59.6
Balance sheet data40
	US$m		US$m		US$m		US$m		US$m				US$m
Loans and advances to customers (net) ..................	375,115		297,852		360,659		44,224		2,454				1,080,304
Total assets  ...........................	517,085		360,623		1,975,509		97,655		171,812		(451,366)		2,671,318
Customer accounts .................	579,994		354,298		450,315		96,770		1,435				1,482,812

	2012
	Retail      Banking and Wealth Management          US$m		Commercial       Banking          US$m		Global      Banking and      Markets          US$m		Global Private      Banking          US$m		Other39         US$m		Inter-      segment elimination49         US$m		Total          US$m
Profit before tax
Net interest income/(expense)	20,298		10,361		6,960		1,294		(730)		(511)		37,672
Net fee income ......................	7,205		4,470		3,329		1,232		194		-		16,430
Trading income/(expense) excluding net interest income ...............................	276		617		3,588		476		(549)		-		4,408
Net interest income on trading activities .................	28		16		2,102		14		12		511		2,683
Net trading income/(expense)44	304		633		5,690		490		(537)		511		7,091
Changes in fair value of long- term debt issued and related derivatives ..........................	-		-		-		-		(4,327)		-		(4,327)
Net income/(expense) from other financial instruments designated at fair value .......	1,893		250		1,094		-		(1,136)		-		2,101
Net income/(expense) from financial instruments designated at fair value .......	1,893		250		1,094		-		(5,463)		-		(2,226)
Gains less losses from financial investments .........	96		22		730		(3)		344		-		1,189
Dividend income ....................	24		18		148		6		25		-		221
Net earned insurance premiums	11,191		1,786		25		42		-		-		13,044
Gains on disposal of US branch network, US cards business and Ping An .......................	3,735		277		-		-		3,012		-		7,024
Other operating income .........	1,472		536		313		151		5,487		(5,859)		2,100
Total operating income .........	46,218		18,353		18,289		3,212		2,332		(5,859)		82,545
Net insurance claims50 ............	(12,357)		(1,802)		(16)		(40)		-		-		(14,215)
Net operating income4 ...........	33,861		16,551		18,273		3,172		2,332		(5,859)		68,330
Loan impairment charges and other credit risk provisions .	(5,515)		(2,099)		(670)		(27)		-		-		(8,311)
Net operating income ............	28,346		14,452		17,603		3,145		2,332		(5,859)		60,019
Employee expenses51 .............	(5,532)		(2,247)		(3,764)		(915)		(8,033)		-		(20,491)
Other operating expenses .......	(14,237)		(5,351)		(6,143)		(1,228)		(1,336)		5,859		(22,436)
Total operating expenses .......	(19,769)		(7,598)		(9,907)		(2,143)		(9,369)		5,859		(42,927)
Operating profit/(loss) ...........	8,577		6,854		7,696		1,002		(7,037)		-		17,092
Share of profit in associates and joint ventures ...............	998		1,681		824		7		47		-		3,557
Profit/(loss) before tax ...........	9,575		8,535		8,520		1,009		(6,990)		-		20,649
	%		%		%		%		%				%
Share of HSBC's profit before tax ...........................	46.4		41.3		41.3		4.9		(33.9)				100.0
Cost efficiency ratio ..............	58.4		45.9		54.2		67.6		-				62.8
Balance sheet data40
	US$m		US$m		US$m		US$m		US$m				US$m
Loans and advances to customers (net) ..................	378,040		288,033		283,842		45,213		2,495				997,623
Total assets  ...........................	536,244		363,659		1,942,470		118,440		201,741		(470,016)		2,692,538
Customer accounts .................	562,151		338,405		332,115		105,772		1,571				1,340,014

For footnotes, see page 132.

 

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