Annual Financial Report - 20 of 56

RNS Number : 6204S

HSBC Holdings PLC

18 March 2016

 

Latin America

Our operations in Latin America principally comprise HSBC Bank Brasil S.A.-Banco Múltiplo and HSBC México, S.A. In addition to banking services, we operate insurance

businesses in Brazil, Mexico and Argentina. During the year our operations in Brazil were classified as held for sale.

		2015						2014						2013
		Total Latin America		Brazil		Other Latin America		Total Latin America		Brazil		Other Latin America		Total Latin America		Brazil		Other Latin America
		$m		$m		$m		$m		$m		$m		$m		$m		$m
Net interest income		4,318		2,225		2,093		5,310		3,040		2,270		6,186		3,542		2,644
Net fee income		1,131		560		571		1,415		741		674		1,701		862		839
Net trading income		664		370		294		856		452		404		936		469		467
Other income		479		429		50		691		584		107		1,745		491		1,254
Net operating income1		6,592		3,584		3,008		8,272		4,817		3,455		10,568		5,364		5,204
LICs34		(1,495)		(965)		(530)		(2,124)		(1,500)		(624)		(2,666)		(1,712)		(954)
Net operating income		5,097		2,619		2,478		6,148		3,317		2,831		7,902		3,652		4,250
Total operating expenses		(4,786)		(2,613)		(2,173)		(5,932)		(3,564)		(2,368)		(5,930)		(3,301)		(2,629)
Operating profit/(loss)		311		6		305		216		(247)		463		1,972		351		1,621
Income from associates35		(1)		(1)		−		−		−		−		−		−		−
Profit/(loss) before tax		310		5		305		216		(247)		463		1,972		351		1,621
								71.7%		74.0%		68.5%
Loans and advances to customers (net)		17,293		−		17,293		43,122		23,749		19,373		43,918		24,924		18,994
- reported in held for sale22		17,001		17,001		−		−		−		−		−		−		−
Customer accounts		21,470		−		21,470		48,588		23,204		25,384		51,389		23,999		27,390
- reported in held for sale22		15,094		15,094		−		−		−		−		−		−		−
Cost efficiency ratio		72.6%		72.9%		72.2%		71.7%		74.0%		68.5%		56.1%		61.5%		50.5%
RoRWA24		0.4%		-		0.8%		0.2%		(0.5%)		1.2%		2.0%		0.7%		3.7%
Year-end staff numbers		39,828		19,145		20,683		41,201		19,564		21,637		42,542		19,869		22,673

For footnotes, see page 99.

Country view of adjusted revenue

		2015		2014
		$m		$m
Argentina		1,036		940
Mexico		1,968		1,931
Other		3,552		3,511
- included in Other: Brazil		3,550		3,443
Year ended 31 December		6,556		6,382

Profit before tax ($m)

Revenue ($m)

Operating expenses ($m)

For details of significant items, see page 49.

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

		Retail               Banking         and Wealth    Management28		Commercial               Banking28		Global Banking and Markets		Global Private Banking		Other		Total
		$m		$m		$m		$m		$m		$m
Argentina		43		152		125		−		(3)		317
Brazil		(344)		11		336		6		(4)		5
Mexico		73		(5)		(15)		(3)		(18)		32
Other		(12)		7		16		−		(55)		(44)
Year ended 31 December 2015		(240)		165		462		3		(80)		310
Argentina		68		119		219		−		(22)		384
Brazil		(230)		(97)		115		(2)		(33)		(247)
Mexico		7		(23)		89		(2)		(20)		51
Other		(5)		8		27		−		(2)		28
Year ended 31 December 2014		(160)		7		450		(4)		(77)		216
Argentina		112		127		170		−		(1)		408
Brazil		(209)		52		514		5		(11)		351
Mexico		138		(144)		115		(3)		11		117
Other		289		525		368		(1)		(85)		1,096
Year ended 31 December 2013		330		560		1,167		1		(86)		1,972

For footnote, see page 99.

 

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