Interim Report - 12 of 24 | RNS | Ticker

Interim Report - 12 of 24

RNS Announcement

RNS Number : 2020X

HSBC Holdings PLC

26 August 2015

Latin America

	Total Latin America	Brazil	Other Latin America
	$m	$m	$m
Half year to 30 June 2015
Net interest income	2,249	1,214	1,035
Net fee income	605	307	298
Net trading income	402	242	160
Other income	302	279	23

Net operating income¹⁵	3,558	2,042	1,516

LICs	(721)	(498)	(223)

Net operating income	2,837	1,544	1,293

Total operating expenses	(2,405)	(1,353)	(1,052)

Operating profit	432	191	241

Income from associates	−	−	−

Profit before tax	432	191	241

Loans and advances to customers (net)	18,347	−	18,347
- reported in held for sale	20,827	20,827	−
Customer accounts	24,127	−	24,127
- reported in held for sale	19,432	19,432	−

RoRWA	1.0%	0.8%	1.3%
Cost efficiency ratio	67.6%	66.3%	69.4%

Period-end staff numbers	40,787	19,641	21,146

Half-year to 30 June 2014
Net interest income	2,700	1,572	1,128
Net fee income	697	365	332
Net trading income	543	246	297
Other income	325	290	35

Net operating income¹⁵	4,265	2,473	1,792
LICs	(998)	(684)	(314)

Net operating income	3,267	1,789	1,478
Total operating expenses	(2,893)	(1,734)	(1,159)

Operating profit	374	55	319
Income from associates	-	-	-

Profit before tax	374	55	319

Loans and advances to customers (net)	46,654	27,515	19,139
Customer accounts	53,852	27,068	26,784
Cost efficiency ratio	67.8%	70.1%	64.7%
RoRWA	0.8%	0.2%	1.6%
Period-end staff numbers	42,157	19,881	22,276

Half-year to 31 December 2014
Net interest income	2,610	1,468	1,142
Net fee income	718	376	342
Net trading income	313	206	107
Other income	366	296	70

Net operating income¹⁵	4,007	2,346	1,661

LICs	(1,126)	(815)	(311)

Net operating income	2,881	1,531	1,350

Total operating expenses	(3,039)	(1,833)	(1,206)

Operating profit/(loss)	(158)	(302)	144
Income from associates	-	-	-

Profit/(loss) before tax	(158)	(302)	144

Loans and advances to customers (net)	43,122	23,749	19,373
Customer accounts	48,588	23,204	25,384
RoRWA	(0.3)%	(1.1)%	0.7%
Cost efficiency ratio	75.8%	78.1%	72.6%
Period-end staff numbers	41,201	19,564	21,637

For footnote, see page 56.

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 period our operations in Brazil were classified as held for sale.

Country view of adjusted revenue

	Half-year to
	30 Jun	30 Jun	31 Dec
	2015	2014	2014
	$m	$m	$m

Mexico	1,018	1,027	979
Other	2,528	2,436	2,353
- included in Other: Brazil	2,031	1,916	1,832


	3,546	3,463	3,332

Profit before tax ($m)

Revenue ($m)

Operating expenses ($m)

For details of significant items, see page 50.

Analysis by country

Profit/(loss) before tax by priority growth markets 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

Europe	863	1,287	905	(23)	(827)	2,205
- UK	633	1,115	398	100	(821)	1,425
- France	284	83	241	10	5	623
- Germany	12	30	74	12	(14)	114
- Switzerland	-	3	1	(162)	-	(158)
- other	(66)	56	191	17	3	201

Asia	2,531	2,404	2,683	156	1,626	9,400
- Hong Kong	2,172	1,239	1,238	120	1,464	6,233
- Australia	24	61	128	-	(7)	206
- India	(3)	46	195	7	90	335
- Indonesia	-	(29)	38	-	17	26
- Mainland China	184	817	544	(1)	38	1,582
- Malaysia	67	60	105	-	8	240
- Singapore	45	63	139	31	(17)	261
- Taiwan	11	12	66	-	(5)	84
- other	31	135	230	(1)	38	433

Middle East and North Africa	172	273	470	8	(22)	901
- Egypt	26	50	128	-	(1)	203
- Saudi Arabia	54	82	118	10	-	264
- UAE	83	76	157	(1)	(21)	294
- other	9	65	67	(1)	-	140

North America	(172)	423	356	37	46	690
- Canada	33	206	142	-	(17)	364
- USA	(219)	204	190	37	70	282
- other	14	13	24	-	(7)	44

Latin America	(32)	136	340	2	(14)	432
- Mexico	33	28	56	-	1	118
- other	(65)	108	284	2	(15)	314
included in other: Brazil¹⁰	(74)	32	208	2	23	191

Half-year to 30 June 2015	3,362	4,523	4,754	180	809	13,628

Europe	480	1,551	1,425	176	(1,374)	2,258
- UK	565	1,324	887	112	(1,192)	1,696
- France	(39)	123	237	(2)	(115)	204
- Germany	14	38	86	17	(7)	148
- Switzerland	-	2	1	14	(2)	15
- other	(60)	64	214	35	(58)	195

Asia	2,339	2,372	2,415	133	635	7,894
- Hong Kong	1,928	1,125	977	99	419	4,548
- Australia	49	62	92	-	(5)	198
- India	6	59	243	5	67	380
- Indonesia	2	43	62	-	6	113
- Mainland China	140	797	515	(2)	94	1,544
- Malaysia	90	54	90	-	12	246
- Singapore	71	75	127	30	(7)	296
- Taiwan	18	19	101	-	2	140
- other	35	138	208	1	47	429

	Retail Banking and Wealth Management⁹ $m	Commercial Banking⁹ $m	Global Banking and Markets $m	Global Private Banking $m	Other $m	Total $m

Middle East and North Africa	182	356	477	9	(35)	989
- Egypt	33	46	71	-	(1)	149
- Saudi Arabia	55	94	99	9	1	258
- UAE	82	133	203	-	(35)	383
- other	12	83	104	-	-	199

North America	130	386	314	51	(56)	825
- Canada	35	280	130	-	(6)	439
- USA	80	110	162	50	(50)	352
- other	15	(4)	22	1	-	34

Latin America	(129)	149	402	(5)	(43)	374
- Mexico	(18)	12	73	(1)	(7)	59
- other	(111)	137	329	(4)	(36)	315
included in other: Brazil¹⁰	(161)	54	175	(6)	(7)	55

Half-year to 30 June 2014	3,002	4,814	5,033	364	(873)	12,340

Europe	(166)	997	(1,376)	139	(1,256)	(1,662)
- UK	24	869	(1,688)	79	(1,036)	(1,752)
- France	(142)	117	117	2	(84)	10
- Germany	14	33	76	10	(3)	130
- Switzerland	-	3	1	24	(1)	27
- other	(62)	(25)	118	24	(132)	(77)

Asia	2,133	2,370	2,161	78	(11)	6,731
- Hong Kong	1,799	1,139	830	47	(221)	3,594
- Australia	29	64	140	-	1	234
- India	(2)	62	199	6	55	320
- Indonesia	8	10	48	-	19	85
- Mainland China	152	736	439	(1)	81	1,407
- Malaysia	66	68	100	-	16	250
- Singapore	58	93	116	27	(1)	293
- Taiwan	1	16	65	-	(1)	81
- other	22	182	224	(1)	40	467

Middle East and North Africa	141	248	449	10	(11)	837
- Egypt	31	48	106	-	1	186
- Saudi Arabia	36	74	104	10	4	228
- UAE	72	57	161	-	(11)	279
- other	2	69	78	-	(5)	144

North America	502	527	(426)	34	(45)	592
- Canada	61	234	112	-	(17)	390
- USA	433	290	(565)	32	(10)	180
- other	8	3	27	2	(18)	22

Latin America	(31)	(142)	48	1	(34)	(158)
- Mexico	25	(35)	16	(1)	(13)	(8)
- other	(56)	(107)	32	2	(21)	(150)
included in other: Brazil¹⁰	(69)	(151)	(60)	4	(26)	(302)

Half-year to 31 December 2014	2,579	4,000	856	262	(1,357)	6,340

For footnotes, see page 56.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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RNS metadata

Title: Interim Report - 12 of 24
Time: 17:26:03
Date: 26 Aug 2015
Category: Results
ID: 2020X