Annual Financial Report - 16 of 56

RNS Number : 6171S

HSBC Holdings PLC

18 March 2016

Middle East and North Africa

The network of branches of HSBC Bank Middle East Limited, together with HSBC's subsidiaries and associates, gives us wide coverage in the region. Our associate in Saudi Arabia, The Saudi British Bank (40% owned), is the Kingdom's fifth largest bank by total assets.
	2015	2014	2013
	$m	$m	$m

Net interest income	1,531	1,519	1,486
Net fee income	633	650	622
Net trading income	325	314	357
Other income	76	65	38

Net operating income¹	2,565	2,548	2,503

LICs³⁴	(299)	6	42

Net operating income	2,266	2,554	2,545

Total operating expenses	(1,234)	(1,216)	(1,289)

Operating profit	1,032	1,338	1,256

Income from associates³⁵	505	488	438

Profit before tax	1,537	1,826	1,694

Cost efficiency ratio	48.1%	47.7%	51.5%
RoRWA²⁴	2.5%	2.9%	2.7%

Year-end staff numbers	8,066	8,305	8,618

For footnotes, see page 99.

Country view of adjusted revenue

Profit before tax ($m)

Revenue ($m)

Operating expenses ($m)

For details of significant items, see page 77.

Profit/(loss) before tax by country within global businesses

	Retail Banking and Wealth Management $m	Commercial Banking $m	Global Banking and Markets $m	Global Private Banking $m	Other $m	Total $m

Egypt	50	101	256	−	3	410
United Arab Emirates	91	19	292	−	(35)	367
Saudi Arabia	112	169	202	16	1	500
Other	19	119	123	−	(1)	260

Year ended 31 December 2015	272	408	873	16	(32)	1,537

Egypt	64	94	177	−	−	335
United Arab Emirates	154	190	364	−	(46)	662
Saudi Arabia	91	168	203	19	5	486
Other	14	152	182	−	(5)	343

Year ended 31 December 2014	323	604	926	19	(46)	1,826

Egypt	31	37	166	−	(29)	205
United Arab Emirates	142	290	275	1	(72)	636
Saudi Arabia	82	146	188	15	7	438
Other	3	172	240	−	−	415

Year ended 31 December 2013	258	645	869	16	(94)	1,694