Annual Financial Report - 9 of 44

RNS Number : 1086A

HSBC Holdings PLC

27 March 2012

 



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

	2011
	Retail Banking and Wealth Management         US$m		Commercial    Banking         US$m		Global    Banking and     Markets         US$m		Global Private    Banking         US$m		Other        US$m		Inter-    segment elimination64        US$m		Total         US$m
Profit before tax
Net interest income/(expense)	5,653		3,107		2,102		936		(574)		(223)		11,001
Net fee income ......................	2,633		1,640		989		942		32		-		6,236
Trading income/(expense) excluding net interest income ...............................	40		5		602		191		(201)		-		637
Net interest income on trading activities ............................	11		16		1,205		16		53		223		1,524
Net trading income/(expense)56	51		21		1,807		207		(148)		223		2,161
Changes in fair value of long- term debt issued and related derivatives ..........................	-		-		-		-		3,180		-		3,180
Net income/(expense) from other financial instruments designated at fair value .......	(672)		(21)		(65)		-		46		-		(712)
Net income/(expense) from financial instruments designated at fair value .......	(672)		(21)		(65)		-		3,226		-		2,468
Gains less losses from financial investments .........	51		(1)		453		1		11		-		515
Dividend income ....................	1		1		42		4		1		-		49
Net earned insurance premiums	3,768		381		-		-		(13)		-		4,136
Other operating income .........	95		58		187		5		760		74		1,179
Total operating income ......	11,580		5,186		5,515		2,095		3,295		74		27,745
Net insurance claims65 ............	(3,212)		(287)		-		-		-		-		(3,499)
Net operating income52 ......	8,368		4,899		5,515		2,095		3,295		74		24,246
Loan impairment (charges)/ recoveries and other credit risk provisions ....................	(596)		(960)		(876)		(82)		2		-		(2,512)
Net operating income .........	7,772		3,939		4,639		2,013		3,297		74		21,734
Total operating expenses .......	(6,450)		(2,252)		(4,569)		(1,456)		(2,268)		(74)		(17,069)
Operating profit .................	1,322		1,687		70		557		1,029		-		4,665
Share of profit/(loss) in associates and joint ventures	-		-		7		-		(1)		-		6
Profit before tax ..................	1,322		1,687		77		557		1,028		-		4,671
	%		%		%		%		%				%
Share of HSBC's profit before tax ...........................	6.0		7.7		0.4		2.5		4.7				21.3
Cost efficiency ratio ..............	77.1		46.0		82.8		69.5		68.8				70.4
Balance sheet data49
	US$m		US$m		US$m		US$m		US$m				US$m
Loans and advances to customers (net) ..................	150,205		98,154		156,903		28,378		696				434,336
Total assets  ...........................	210,140		124,049		1,021,486		77,410		63,141		(214,281)		1,281,945
Customer accounts .................	176,134		104,530		154,208		58,265		267				493,404

	2010
	Retail       Banking and Wealth      Manage-          ment17          US$m		Commercial       Banking          US$m		Global      Banking             and     Markets17         US$m		Global Private      Banking          US$m		Other         US$m		Inter-      segment elimination64         US$m		Total          US$m
Profit/(loss) before tax
Net interest income/(expense) ..	5,537		2,774		2,935		871		(654)		(213)		11,250
Net fee income .......... ...............................	2,559		1,570		1,320		883		39		-		6,371
Trading income/(expense) excluding net interest income ..................	(6)		3		1,541		185		(262)		-		1,461
Net interest income/(expense) on trading activities ...............................	(1)		19		1,127		21		23		213		1,402
Net trading income/(expense)56	(7)		22		2,668		206		(239)		213		2,863
Changes in fair value of long- term debt issued and related derivatives ..	-		-		-		-		(365)		-		(365)
Net income/(expense) from other financial instruments designated at fair value ......................	496		113		(23)		-		61		-		647
Net income/(expense) from financial instruments designated at fair value ......................	496		113		(23)		-		(304)		-		282
Gains less losses from financial investments ...........	(36)		-		525		(7)		4		-		486
Dividend income .......	-		1		16		2		1		-		20
Net earned insurance premiums ...............	3,800		278		-		-		(11)		-		4,067
Other operating income ..................	187		163		817		7		754		189		2,117
Total operating income/ (expense) ...............	12,536		4,921		8,258		1,962		(410)		189		27,456
Net insurance claims65 ...............................	(4,364)		(342)		-		-		-		-		(4,706)
Net operating income/ (expense)52 ............	8,172		4,579		8,258		1,962		(410)		189		22,750
Loan impairment (charges)/ recoveries and other credit risk provisions ....... ...............................	(1,217)		(997)		(783)		(26)		3		-		(3,020)
Net operating income/ (expense) ...............	6,955		3,582		7,475		1,936		(407)		189		19,730
Total operating expenses ................	(5,647)		(2,378)		(4,784)		(1,296)		(1,151)		(189)		(15,445)
Operating profit/(loss) ...............................	1,308		1,204		2,691		640		(1,558)		-		4,285
Share of profit in associates and joint ventures ..	4		1		12		-		-		-		17
Profit/(loss) before tax ...............................	1,312		1,205		2,703		640		(1,558)		-		4,302
	%		%		%		%		%				%
Share of HSBC's profit before tax ..............	6.9		6.3		14.2		3.4		(8.2)				22.6
Cost efficiency ratio ..	69.1		51.9		57.9		66.1		(280.7)				67.9
Balance sheet data49
	US$m		US$m		US$m		US$m		US$m				US$m
Loans and advances to customers (net) ......	145,069		91,744		170,369		27,629		988				435,799
Total assets  ..............	205,032		111,356		962,861		76,631		65,824		(172,177)		1,249,527
Customer accounts ....	169,016		96,597		169,836		56,114		-				491,563

For footnotes, see page 95.

 

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