Annual Financial Report - 18 of 56

RNS Number : 6179S

HSBC Holdings PLC

18 March 2016

 

North America

Our principal North American businesses are located in the US and Canada. Operations in the US are primarily conducted through HSBC Bank USA, N.A., and HSBC Finance, a national consumer finance company. HSBC Markets (USA) Inc. is the intermediate holding company of, inter alia, HSBC Securities (USA) Inc. Canadian operations are conducted through HSBC Bank Canada.
		2015		2014		2013
		$m		$m		$m
Net interest income		4,532		5,015		5,742
Net fee income		2,018		1,940		2,143
Net trading income		545		411		948
Other income/(expense)		562		786		(30)
Net operating income1		7,657		8,152		8,803
LICs34		(544)		(322)		(1,197)
Net operating income		7,113		7,830		7,606
Total operating expenses		(6,501)		(6,429)		(6,416)
Operating profit		612		1,401		1,190
Income from associates35		2		16		31
Profit before tax		614		1,417		1,221
Cost efficiency ratio		84.9%		78.9%		72.9%
RoRWA24		0.3%		0.6%		0.5%
Year-end staff numbers		19,656		20,412		20,871

For footnotes, see page 99.

Country view of adjusted revenue

		2015		2014
		$m		$m
US		5,926		6,083
Canada		1,585		1,663
Other		244		270
Year ended 31 December		7,755		8,016

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
US		(736)		302		355		65		55		41
Canada		58		259		189		−		(21)		485
Other		33		12		49		(6)		−		88
Year ended 31 December 2015		(645)		573		593		59		34		614
US		513		400		(403)		82		(60)		532
Canada		96		514		242		−		(23)		829
Other		23		(1)		49		3		(18)		56
Year ended 31 December 2014		632		913		(112)		85		(101)		1,417
US		(358)		296		633		53		(350)		274
Canada		131		506		280		−		(3)		914
Other		20		(16)		16		4		9		33
Year ended 31 December 2013		(207)		786		929		57		(344)		1,221

 

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