Annual Financial Report - 14 of 56 | RNS | Ticker

Annual Financial Report - 14 of 56

RNS Announcement

RNS Number : 6162S

HSBC Holdings PLC

18 March 2016

Asia

Our principal banking subsidiaries in Hong Kong are The Hongkong and Shanghai Banking Corporation Limited and Hang Seng Bank Limited. The former is the largest bank incorporated in Hong Kong and is our flagship bank in Asia. We offer a wide range of banking and financial services in mainland China through our local subsidiaries, HSBC Bank (China) Company Limited and Hang Seng Bank (China) Limited. We also participate indirectly in mainland China through our associate, Bank of Communications Co., Ltd. Outside Hong Kong and mainland China in Asia, we conduct business in 18 countries and territories, with particularly strong coverage in Australia, India, Indonesia, Malaysia, Singapore and Taiwan.
	2015	2014	2013
	$m	$m	$m

Net interest income	12,184	12,273	11,432
Net fee income	6,032	5,910	5,936
Net trading income	3,090	2,622	2,026
Other income	3,997	2,872	5,038

Net operating income¹	25,303	23,677	24,432

LICs³⁴	(693)	(647)	(498)

Net operating income	24,610	23,030	23,934

Total operating expenses	(10,889)	(10,427)	(9,936)

Operating profit	13,721	12,603	13,998

Income from associates³⁵	2,042	2,022	1,855

Profit before tax	15,763	14,625	15,853

Cost efficiency ratio	43.0%	44.0%	40.7%
RoRWA²⁴	3.3%	3.1%	3.8%

Year-end staff numbers	120,144	118,322	113,701

For footnotes, see page 99.

Country view of adjusted revenue

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

Hong Kong	3,799	2,384	2,119	177	1,327	9,806
Australia	61	79	238	−	(5)	373
India	(25)	97	379	14	141	606
Indonesia	(6)	(112)	80	−	31	(7)
Mainland China	297	1,569	1,062	(3)	135	3,060
Malaysia	119	95	215	−	13	442
Singapore	80	122	259	65	(19)	507
Taiwan	11	24	133	−	(13)	155
Other	50	250	449	(1)	73	821

Year ended 31 December 2015	4,386	4,508	4,934	252	1,683	15,763

Hong Kong	3,727	2,264	1,807	146	198	8,142
Australia	78	126	232	−	(4)	432
India	4	121	442	11	122	700
Indonesia	10	53	110	−	25	198
Mainland China	292	1,533	954	(3)	175	2,951
Malaysia	156	122	190	−	28	496
Singapore	129	168	243	57	(8)	589
Taiwan	19	35	166	−	1	221
Other	57	320	432	−	87	896

Year ended 31 December 2014	4,472	4,742	4,576	211	624	14,625

Hong Kong	3,742	2,110	1,971	208	58	8,089
Australia	100	131	189	−	26	446
India	(21)	113	418	7	136	653
Indonesia	12	106	126	−	36	280
Mainland China	223	1,536	842	(4)	1,644	4,241
Malaysia	148	105	236	−	25	514
Singapore	147	120	262	74	22	625
Taiwan	7	30	158	−	5	200
Other	61	207	473	(1)	65	805

Year ended 31 December 2013	4,419	4,458	4,675	284	2,017	15,853

Analysis of mainland China profit/(loss) before tax

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

BoCom and other associates	260	1,448	301	−	−	2,009
Mainland China operations	37	121	761	(3)	135	1,051

Year ended 31 December 2015	297	1,569	1,062	(3)	135	3,060

BoCom and other associates	255	1,421	296	-	1	1,973
Mainland China operations	37	112	658	(3)	174	978

Year ended 31 December 2014	292	1,533	954	(3)	175	2,951

BoCom and other associates	247	1,360	284	-	(38)	1,853
Mainland China operations	(24)	176	558	(4)	40	746
Industrial Bank	-	-	-	-	1,089	1,089
Ping An	-	-	-	-	553	553

Year ended 31 December 2013	223	1,536	842	(4)	1,644	4,241

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