Annual Financial Report - 22 of 60 | RNS | Ticker

Annual Financial Report - 22 of 60

RNS Announcement

RNS Number : 1542D

HSBC Holdings PLC

25 March 2014

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

	2013
	Retail Banking and Wealth Management US$m	Commercial Banking⁵³ US$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 ...............	3,483	1,430	582	195	89	(37)	5,742

Net fee income ...................... ...........................................	605	593	741	125	79	−	2,143

Trading income excluding net interest income ..................	48	40	613	19	7	−	727
Net interest income on trading activities ............................	11	1	172	−	−	37	221

Net trading income⁴⁴ ..............	59	41	785	19	7	37	948

Changes in fair value of long- term debt issued and related derivatives ..........................	−	-	-	-	(288)	-	(288)
Net income from other financial instruments designated at fair value ............................	−	−	−	−	−	−	−

Net expense from financial instruments designated at fair value ............................	−	−	−	−	(288)	−	(288)
Gains less losses from financial investments .........	4	−	282	−	8	−	294
Dividend income ....................	12	9	48	4	4	−	77
Net earned insurance premiums ...........................................	34	-	-	-	-	-	34
Other operating income/ (expense) ...........................	(454)	−	229	1	1,829	(1,713)	(108)

Total operating income ......	3,743	2,073	2,667	344	1,728	(1,713)	8,842

Net insurance claims⁵⁰ ............	(39)	−	−	−	−	−	(39)

Net operating income⁴ .......	3,704	2,073	2,667	344	1,728	(1,713)	8,803

Loan impairment charges and other credit risk provisions . ...........................................	(950)	(223)	(20)	(4)	−	−	(1,197)

Net operating income .........	2,754	1,850	2,647	340	1,728	(1,713)	7,606

Total operating expenses .......	(2,960)	(1,096)	(1,718)	(283)	(2,072)	1,713	(6,416)

Operating profit/(loss) .......	(206)	754	929	57	(344)	−	1,190

Share of profit/(loss) in associates and joint ventures ...........................................	(1)	32	−	−	−	−	31

Profit/(loss) before tax .......	(207)	786	929	57	(344)	−	1,221

	%	%	%	%	%		%
Share of HSBC's profit before tax ...........................	(0.9)	3.5	4.1	0.3	(1.6)		5.4
Cost efficiency ratio ..............	79.9	52.9	64.4	82.3	119.9		72.9

Balance sheet data⁴⁰
	US$m	US$m	US$m	US$m	US$m		US$m
Loans and advances to customers (net)³⁴ ...............	66,192	37,735	51,746	5,956	−		161,629
Total assets ............................	82,530	45,706	313,701	8,542	13,211	(31,655)	432,035
Customer accounts reported in:
- customer accounts³⁴ ........	53,600	49,225	79,799	13,871	−		196,495

Profit/(loss) before tax and balance sheet data - North America (continued)

	2012
	Retail Banking and Wealth Management US$m	Commercial Banking⁵³ US$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 ...............	5,481	1,443	948	192	118	(65)	8,117

Net fee income ...................... ...........................................	923	562	716	124	188	-	2,513

Trading income/(expense) excluding net interest income ...........................................	(216)	47	466	20	16	-	333
Net interest income on trading activities ............................	17	1	91	-	-	65	174

Net trading income/(expense)⁴⁴ ...........................................	(199)	48	557	20	16	65	507

Changes in fair value of long- term debt issued and related derivatives ..........................	-	-	-	-	(1,219)	-	(1,219)
Net income from other financial instruments designated at fair value ............................	-	-	-	-	-	-	-

Net expense from financial instruments designated at fair value ............................	-	-	-	-	(1,219)	-	(1,219)
Gains less losses from financial investments .........	27	-	223	(7)	8	-	251
Dividend income ....................	15	11	32	3	-	-	61
Net earned insurance premiums ...........................	193	-	-	-	-	-	193
Gains on disposal of US branch network and cards business ..	3,735	277	-	-	-	-	4,012
Other operating income .........	173	149	191	5	1,787	(1,899)	406

Total operating income .........	10,348	2,490	2,667	337	898	(1,899)	14,841

Net insurance claims⁵⁰ ............	(148)	-	-	-	-	-	(148)

Net operating income⁴ ...........	10,200	2,490	2,667	337	898	(1,899)	14,693

Loan impairment (charges)/ recoveries and other credit risk provisions .......... ...........................................	(3,241)	(148)	(71)	3	-	-	(3,457)

Net operating income ............	6,959	2,342	2,596	340	898	(1,899)	11,236

Total operating expenses .......	(3,966)	(1,144)	(1,639)	(268)	(3,822)	1,899	(8,940)

Operating profit/(loss) ...........	2,993	1,198	957	72	(2,924)	-	2,296

Share of profit in associates and joint ventures ...............	2	1	-	-	-	-	3

Profit/(loss) before tax ...........	2,995	1,199	957	72	(2,924)	-	2,299

	%	%	%	%	%		%
Share of HSBC's profit before tax ...........................	14.5	5.8	4.6	0.3	(14.2)		11.1
Cost efficiency ratio ..............	38.9	45.9	61.5	79.5	425.6		60.8

Balance sheet data⁴⁰
	US$m	US$m	US$m	US$m	US$m		US$m
Loans and advances to customers (net) ..................	76,414	36,387	22,498	5,457	-		140,756
Total assets ............................	101,103	48,604	345,040	8,828	12,659	(25,987)	490,247
Customer accounts reported in:
- customer accounts ...........	57,758	48,080	29,595	13,553	51		149,037

For footnotes, see page 132.

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END

ACSUVOVRSNAOUAR

RNS metadata

Title: Annual Financial Report - 22 of 60
Time: 16:36:02
Date: 25 Mar 2014
Category: Results
ID: 1542D