Last checked at 18 Mar 2016 16:32
North America
Our principal North American businesses are located in the US and Canada. Operations in the US are primarily conducted through HSBC Bank USA, N.A., and HSBC Finance, a national consumer finance company. HSBC Markets (USA) Inc. is the intermediate holding company of, inter alia, HSBC Securities (USA) Inc. Canadian operations are conducted through HSBC Bank Canada. | ||||||
2015 | 2014 |
| 2013 | |||
$m | $m |
| $m | |||
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Net interest income | 4,532 | 5,015 | 5,742 | |||
Net fee income | 2,018 | 1,940 | 2,143 | |||
Net trading income | 545 | 411 | 948 | |||
Other income/(expense) | 562 | 786 | (30) | |||
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Net operating income1 | 7,657 | 8,152 | 8,803 | |||
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LICs34 | (544) | (322) | (1,197) | |||
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Net operating income | 7,113 | 7,830 | 7,606 | |||
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Total operating expenses | (6,501) | (6,429) | (6,416) | |||
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Operating profit | 612 | 1,401 | 1,190 | |||
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Income from associates35 | 2 | 16 | 31 | |||
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Profit before tax | 614 | 1,417 | 1,221 | |||
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Cost efficiency ratio | 84.9% | 78.9% | 72.9% | |||
RoRWA24 | 0.3% | 0.6% | 0.5% | |||
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Year-end staff numbers | 19,656 | 20,412 | 20,871 | |||
For footnotes, see page 99.
Country view of adjusted revenue
2015 | 2014 | |||
$m | $m | |||
US | 5,926 | 6,083 | ||
Canada | 1,585 | 1,663 | ||
Other | 244 | 270 | ||
Year ended 31 December | 7,755 | 8,016 |
Profit before tax ($m)
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Revenue ($m)
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Operating expenses ($m)
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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 | |||||||
US | (736) | 302 | 355 | 65 | 55 | 41 | ||||||
Canada | 58 | 259 | 189 | − | (21) | 485 | ||||||
Other | 33 | 12 | 49 | (6) | − | 88 | ||||||
Year ended 31 December 2015 | (645) | 573 | 593 | 59 | 34 | 614 | ||||||
US | 513 | 400 | (403) | 82 | (60) | 532 | ||||||
Canada | 96 | 514 | 242 | − | (23) | 829 | ||||||
Other | 23 | (1) | 49 | 3 | (18) | 56 | ||||||
Year ended 31 December 2014 | 632 | 913 | (112) | 85 | (101) | 1,417 | ||||||
US | (358) | 296 | 633 | 53 | (350) | 274 | ||||||
Canada | 131 | 506 | 280 | − | (3) | 914 | ||||||
Other | 20 | (16) | 16 | 4 | 9 | 33 | ||||||
Year ended 31 December 2013 | (207) | 786 | 929 | 57 | (344) | 1,221 |