Annual Financial Report - 16 of 60

RNS Number : 1517D

HSBC Holdings PLC

25 March 2014

 

Profit/(loss) before tax and balance sheet data - Hong Kong

	2013
	Retail    Banking and Wealth Management         US$m		Commercial    Banking         US$m		Global    Banking and     Markets         US$m		Global       Private    Banking         US$m		Other         US$m		Inter-    segment elimination49        US$m		Total         US$m
Profit before tax
Net interest income/(expense)	3,177		1,729		1,338		124		(347)		(28)		5,993
Net fee income ......................	2,030		963		697		179		8		−		3,877
Trading income/(expense) excluding net interest income ...............................	139		182		779		134		(17)		−		1,217
Net interest income on trading activities .................	3		−		307		−		15		28		353
Net trading income/(expense)44	142		182		1,086		134		(2)		28		1,570
Changes in fair value of long- term debt issued and related derivatives ..........................	−		-		-		-		−		-		−
Net income/(expense) from other financial instruments designated at fair value .......	256		−		7		−		(5)		−		258
Net income/(expense) from financial instruments designated at fair value .......	256		−		7		−		(5)		−		258
Gains less losses from financial investments .........	−		−		42		10		1		−		53
Dividend income ....................	−		1		6		−		143		−		150
Net earned insurance premiums	5,612		469		−		−		−		−		6,081
Other operating income .........	619		91		78		9		1,302		(308)		1,791
Total operating income ......	11,836		3,435		3,254		456		1,100		(308)		19,773
Net insurance claims50 ............	(6,025)		(545)		−		−		−		−		(6,570)
Net operating income4 .......	5,811		2,890		3,254		456		1,100		(308)		13,203
Loan impairment (charges)/ recoveries and other credit risk provisions ....................	(137)		(16)		20		(4)		−		−		(137)
Net operating income .........	5,674		2,874		3,274		452		1,100		(308)		13,066
Total operating expenses .......	(1,999)		(764)		(1,304)		(244)		(1,042)		308		(5,045)
Operating profit .................	3,675		2,110		1,970		208		58		−		8,021
Share of profit in associates and joint ventures ...............	67		−		1		−		−		−		68
Profit before tax ..................	3,742		2,110		1,971		208		58		−		8,089
	%		%		%		%		%				%
Share of HSBC's profit before tax ...........................	16.6		9.4		8.7		0.9		0.3				35.9
Cost efficiency ratio ..............	34.4		26.4		40.1		53.5		94.7				38.2
Balance sheet data40
	US$m		US$m		US$m		US$m		US$m				US$m
Loans and advances to customers (net) ..................	64,990		74,125		48,117		6,928		1,387				195,547
Total assets ............................	103,816		84,143		311,771		8,020		59,970		(12,307)		555,413
Customer accounts .................	213,471		97,191		35,617		19,428		286				365,993

Profit/(loss) before tax and balance sheet data - Hong Kong (continued)

	2012
	Retail       Banking and Wealth Management          US$m		Commercial       Banking          US$m		Global      Banking and      Markets          US$m		Global        Private      Banking          US$m		Other          US$m		Inter-      segment elimination49         US$m		Total          US$m
Profit/(loss) before tax
Net interest income/(expense)	2,851		1,629		1,087		149		(482)		82		5,316
Net fee income ......................	1,769		850		548		155		13		-		3,335
Trading income/(expense) excluding net interest income ...............................	176		163		666		170		(2)		-		1,173
Net interest income on trading activities .................	10		2		352		-		8		(82)		290
Net trading income44 ..............	186		165		1,018		170		6		(82)		1,463
Changes in fair value of long- term debt issued and related derivatives ..........................	-		-		-		-		-		-		-
Net income/(expense) from other financial instruments designated at fair value .......	511		(53)		23		-		(34)		-		447
Net income/(expense) from financial instruments designated at fair value .......	511		(53)		23		-		(34)		-		447
Gains less losses from financial investments .........	-		-		2		7		313		-		322
Dividend income ....................	-		1		5		-		18		-		24
Net earned insurance premiums ...........................	5,294		655		8		-		-		-		5,957
Other operating income .........	711		253		77		13		1,152		(282)		1,924
Total operating income .........	11,322		3,500		2,768		494		986		(282)		18,788
Net insurance claims50 ............	(5,757)		(602)		(7)		-		-		-		(6,366)
Net operating income4 ...........	5,565		2,898		2,761		494		986		(282)		12,422
Loan impairment (charges)/ recoveries and other credit risk provisions ....................	(97)		3		17		3		-		-		(74)
Net operating income ............	5,468		2,901		2,778		497		986		(282)		12,348
Total operating expenses .......	(1,819)		(719)		(1,263)		(248)		(1,081)		282		(4,848)
Operating profit/(loss) ...........	3,649		2,182		1,515		249		(95)		-		7,500
Share of profit in associates and joint ventures ...............	45		6		3		-		28		-		82
Profit/(loss) before tax ...........	3,694		2,188		1,518		249		(67)		-		7,582
	%		%		%		%		%				%
Share of HSBC's profit before tax ...........................	17.9		10.6		7.3		1.2		(0.3)				36.7
Cost efficiency ratio ..............	32.7		24.8		45.7		50.2		109.6				39.0
Balance sheet data40
	US$m		US$m		US$m		US$m		US$m				US$m
Loans and advances to customers (net) ..................	62,533		62,944		40,223		6,464		1,449				173,613
Total assets ............................	96,185		72,056		256,295		20,705		81,085		(7,992)		518,334
Customer accounts .................	201,649		90,152		34,171		19,566		670				346,208

For footnotes, see page 132.

 

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