Last checked at 20 Mar 2015 16:40
Credit risk
Page | App | Tables | Page | |||
Credit risk | 129 | 206 | Summary of credit risk | 129 | ||
Gross loans to customers and banks over five years | 130 | |||||
Loan impairment charge over five years | 130 | |||||
Loan impairment charges by geographical region | 130 | |||||
Loan impairment charges by industry | 130 | |||||
Loan impairment allowances over five years | 130 | |||||
Credit risk management | 206 | |||||
Credit exposure | 130 | |||||
Maximum exposure to credit risk | 130 | |||||
Other credit risk mitigants | 130 | Maximum exposure to credit risk | 131 | |||
Loan and other credit-related commitments | 131 | |||||
Concentration of exposure | 132 | 206 | ||||
Financial investments | 132 | |||||
Trading assets | 132 | |||||
Derivatives | 132 | |||||
Loans and advances | 132 | Gross loans and advances to customers by industry sector and by geographical region | 132 | |||
Credit quality of financial instruments | 133 | 207 | ||||
Credit quality classification | Distribution of financial instruments by credit quality | 134 | ||||
Past due but not impaired gross financial instruments | 136 | Past due but not impaired gross financial instruments by geographical region | 136 | |||
Ageing analysis of days for past due but not impairedgross financial instruments | 136 | |||||
Impaired loans | 137 | Movement in impaired loans by geographical region | 137 | |||
Renegotiated loans and forbearance | 138 | 208 | Renegotiated loans and advances to customers bygeographical region | 139 | ||
Movement in renegotiated loans by geographical region | 140 | |||||
Impairment of loans and advances | 141 | Loan impairment charge to the income statement by industry sector | 141 | |||
Loan impairment charge to the income statement by assessment type | 141 | |||||
Charge for impairment losses as a percentage of average gross loans and advances to customers by geographical region | 142 | |||||
Movement in impairment allowances by industry sector and geographical region | 142 | |||||
Movement in impairment allowances on loans and advances to customers and banks | 143 | |||||
Impairment assessment | 212 | |||||
Wholesale lending | 144 | Total wholesale lending | 144 | |||
Commercial real estate | 145 | Commercial real estate lending | 145 | |||
Commercial real estate loans and advances including loan commitments by level of collateral | 147 | |||||
Other corporate, commercial and financial (non-bank)loans and advances including loan commitments by level of collateral rated CRR/EL8 to 10 only | 148 | |||||
Loans and advances to banks including loan commitmentsby level of collateral | 149 | |||||
Other credit risk exposures | 149 | |||||
Derivatives | 149 | Notional contract amounts and fair values of derivatives by product type | 150 | |||
OTC collateral agreements by type | 150 | |||||
Reverse repos - non-trading by geographical region | 151 | Reverse repos - non-trading by geographical region | 151 | |||
Loan Management Unit | 213 | |||||
Page | App | Tables | Page | |||
Personal lending | 151 | Total personal lending | 151 | |||
Mortgage lending | 152 | |||||
Other personal lending | 153 | HSBC Finance US Consumer and Mortgage Lending residential mortgages | 153 | |||
HSBC Finance: foreclosed properties in the US | 153 | |||||
Trends in two months and over conctractual delinquency in the US | 153 | |||||
Gross loan portfolio of HSBC Finance and real estate secured balances | 154 | |||||
Number of renegotiated real estate secured accounts remaining in HSBC Finance's portfolio | 154 | |||||
HSBC Finance loan modifications and re-age programmes | 154 | |||||
Collateral and other credit enhancements held | 156 | Residential mortgage loans including loan commitments by level of collateral | 156 | |||
Supplementary information | 157 | Gross loans and advances by industry sector over 5 years | 157 | |||
Reconciliation of reported and constant currency impaired loans, allowances and charges by geographical region | 158 | |||||
Reconciliation of reported and constant currency loan impairment charges to the income statement | 158 | |||||
Loan impairment charges by industry sector over 5 years | 159 | |||||
Charge for impairment losses as a percentage of average gross loans and advances to customers | 159 | |||||
Movement in impairment allowances over 5 years | 159 | |||||
Gross loans and advances to customers by country | 160 | |||||
Refinance risk | 214 | |||||
HSBC Holdings | 161 | HSBC Holdings - maximum exposure to credit risk | 161 | |||
Securitisation exposures and other structured products | 161 | 214 | Overall exposure of HSBC | 161 | ||
Carrying amount of HSBC's consolidated holdings of ABSs | 162 | |||||
Definitions and classifications of ABSs and CDOs | 214 | |||||
Representations and warranties related to mortgage sales and securitisation activities | 162 | |||||
| ||||||
1 Appendix to Risk - risk policies and practices. | ||||||
(Unaudited)
Credit risk is the risk of financial loss if a customer or counterparty fails to meet an obligation under a contract. It arises principally from direct lending, trade finance and leasing business, but also from other products such as guarantees and credit derivatives and from holding assets in the form of debt securities.There were no material changes to our policies and practices for the management of credit risk in 2014.
A summary of our current policies and practices regarding credit risk is provided in the Appendix to Risk on page 204.
Our maximum exposure to credit risk is presented on page 131 and credit quality on page 133. While credit risk arises across most of our balance sheet, losses have typically been incurred on loans and advances and securitisation exposures and other structured products. As a result, our disclosures focus primarily on these two areas.
This year we have redesigned the 'Credit risk' section in order to enhance clarity and reduce duplication. It now begins with a summary of credit risk followed by an overview of our gross exposures. We describe various measures of credit quality such as past due status, impaired loans and renegotiated loans before analysing impairment allowances. There are specific sections on wholesale lending and personal lending where additional detail is provided and we cover areas of particular focus such as our exposure to commercial real estate in wholesale lending and our Consumer and Mortgage Lending ('CML') portfolio in personal lending. This is followed by a section describing our securitisation exposures and other structured products. Information on our exposures to oil and gas, Russia and Greece is provided in 'Areas of special interest' on page 126.
Following the change in balance sheet presentation explained on page 347, non-trading reverse repos are shown separately on the balance sheet and are no longer included in 'Loans and advances to customers' and 'Loans and advances to banks'. Comparative data have been re-presented accordingly. As a result, any analysis that references loans and advances to customers or banks excludes non-trading reverse repos. The amount of the non-trading reverse repos to customers and banks is set out on page 151.
Loan impairment charges, loan impairment allowances and impaired loans all reduced compared with 2013.
Gross loans and advances decreased by US$28bn which included adverse foreign exchange movements of US$51bn; excluding these movements customer lending grew in 2014.
The commentary that follows is on a constant currency basis, whilst tables are presented on a reported basis.
Summary of credit risk
(Unaudited)
2014 | 2013 | Page | ||||
US$bn | US$bn | |||||
At year-end | ||||||
Maximum exposure tocredit risk | 3,133 | 3,112 | 131 | |||
Gross loans and advances1 | ||||||
- personal lending | 393 | 411 | 132 | |||
- wholesale lending | 706 | 716 | 132 | |||
Total | 1,099 | 1,127 | 132 | |||
Impaired loans | ||||||
- personal lending | 15 | 19 | 137 | |||
- wholesale lending | 14 | 18 | 137 | |||
Total | 29 | 37 | 137 | |||
Impaired loans as a % ofgross loans and advances | ||||||
- personal lending | 3.9% | 4.6% | ||||
- wholesale lending | 2.0% | 2.5% | ||||
- total | 2.7% | 3.3% | ||||
US$bn | US$bn | |||||
Impairment allowances | ||||||
- personal lending | 4.6 | 6.6 | 143 | |||
- wholesale lending | 7.8 | 8.6 | 143 | |||
Total | 12.4 | 15.2 | 143 | |||
Loans and advances net ofimpairment allowances1 | 1,087 | 1,112 | ||||
For year ended 31 December | ||||||
Loan impairment charge | ||||||
- personal lending | 1.8 | 3.1 | 141 | |||
- wholesale lending | 2.3 | 2.9 | 141 | |||
Total | 4.1 | 6.0 | 141 |
For footnote, see page 202.
See page 158 for further details in respect of the constant currency reconciliation. For an analysis of loans and advances by country see page 160.
Wholesale gross loans and advances increased by US$21bn. Asia grew by US$16bn and North America by US$10bn with more modest levels of growth in the Middle East and North Africa and Latin America. This was offset by a decrease of US$15bn in Europe. Loan impairment charges were lower in 2014 as we continued to benefit from the improvement in various economies and the low interest rate environment.
Personal lending balances, excluding the planned US CML portfolio run off, grew by US$7.7bn. This was primarily driven by increased mortgage and other lending in Asia and growth in the mortgage portfolio in both North America and Latin America. The growth was partially offset by lower lending balances in Europe due to repayments on the mortgage and credit card portfolio in the UK. The CML portfolio declined by a further US$5.7bn during the year. Loan impairment charges were down as a result of improvements in the US housing market and the continued run-off of the CML portfolio.
Gross loans to customers and banks over five years1(US$bn)
(Unaudited)
Loan impairment charge over five years (US$bn)
(Unaudited)
Loan impairment charges by geographical region (US$bn)
(Unaudited)
Loan impairment charges by industry (US$bn)
(Unaudited)
Loan impairment allowances over five years
(Unaudited)
For footnote, see page 202.
Credit exposure
Maximum exposure to credit risk(Audited)
The table on page 131 provides information on balance sheet items, offsets and loan and other credit-related commitments. Commentary on balance sheet movements is provided on page 58. The offset on derivatives increased in line with the increase in maximum exposure amounts.
The offset on corporate and commercial loans to customers decreased by US$31bn. This reduction was in the UK where a small number of clients benefit from the use of net interest arrangements across their overdraft and deposit positions. During the year, as we aligned our approach in our Payments and Cash Management business to be more globally consistent, many of these clients increased the frequency with which they settled these balances thereby reducing the amount of offset available.
'Maximum exposure to credit risk' table (page 131)
The table presents our maximum exposure to credit risk from balance sheet and off‑balance sheet financial instruments before taking account of any collateral held or other credit enhancements (unless such enhancements meet accounting offsetting requirements). For financial assets recognised on the balance sheet, the maximum exposure to credit risk equals their carrying amount; for financial guarantees and similar contracts granted, it is the maximum amount that we would have to pay if the guarantees were called upon. For loan commitments and other credit-related commitments, it is generally the full amount of the committed facilities.
The offset in the table relates to amounts where there is a legally enforceable right of offset in the event of counterparty default and where, as a result, there is a net exposure for credit risk purposes. However, as there is no intention to settle these balances on a net basis under normal circumstances, they do not qualify for net presentation for accounting purposes.
In the case of derivatives the offset column also includes collateral received in cash and other financial assets.
While not disclosed as an offset in the 'Maximum exposure to credit risk' table, other arrangements are in place which reduce our maximum exposure to credit risk. These include a charge over collateral over borrowers' specific assets such as residential properties. Other credit risk mitigants include short positions in securities and financial assets held as part of linked insurance/ investment contracts where the risk is predominantly borne by the policyholder. In addition, we hold collateral in the form of financial instruments that are not recognised on the balance sheet.
See Note 32 and from page 147 and page 156 respectively on the Financial Statements for further details on collateral in respect of certain loans and advances and derivatives.
Maximum exposure to credit risk
(Audited)
2014 | 2013 | |||||||||||
Maximumexposure | Offset | Net | Maximumexposure | Offset | Net | |||||||
US$m | US$m | US$m | US$m | US$m | US$m | |||||||
Cash and balances at central banks | 129,957 | - | 129,957 | 166,599 | - | 166,599 | ||||||
Items in the course of collection from other banks | 4,927 | - | 4,927 | 6,021 | - | 6,021 | ||||||
Hong Kong Government certificates of indebtedness | 27,674 | - | 27,674 | 25,220 | - | 25,220 | ||||||
Trading assets | 228,944 | - | 228,944 | 239,301 | (1,777) | 237,524 | ||||||
- Treasury and other eligible bills | 16,170 | - | 16,170 | 21,584 | - | 21,584 | ||||||
- debt securities | 141,532 | - | 141,532 | 141,644 | - | 141,644 | ||||||
- loans and advances to banks | 27,581 | - | 27,581 | 27,885 | - | 27,885 | ||||||
- loans and advances to customers | 43,661 | - | 43,661 | 48,188 | (1,777) | 46,411 | ||||||
Financial assets designated at fair value | 9,031 | - | 9,031 | 12,719 | - | 12,719 | ||||||
- Treasury and other eligible bills | 56 | - | 56 | 50 | - | 50 | ||||||
- debt securities | 8,891 | - | 8,891 | 12,589 | - | 12,589 | ||||||
- loans and advances to banks | 84 | - | 84 | 76 | - | 76 | ||||||
- loans and advances to customers | - | - | - | 4 | - | 4 | ||||||
Derivatives | 345,008 | (313,300) | 31,708 | 282,265 | (252,344) | 29,921 | ||||||
Loans and advances to customers held atamortised cost1 | 974,660 | (67,094) | 907,566 | 992,089 | (96,726) | 895,363 | ||||||
- personal | 388,954 | (4,412) | 384,542 | 404,126 | (1,348) | 402,778 | ||||||
- corporate and commercial | 535,184 | (59,197) | 475,987 | 537,922 | (90,215) | 447,707 | ||||||
- financial (non-bank financial institutions) | 50,522 | (3,485) | 47,037 | 50,041 | (5,163) | 44,878 | ||||||
Loans and advances to banks held atamortised cost1 | 112,149 | (258) | 111,891 | 120,046 | (587) | 119,459 | ||||||
Reverse repurchase agreements - non-trading | 161,713 | (5,750) | 155,963 | 179,690 | (22,267) | 157,423 | ||||||
Financial investments | 404,773 | - | 404,773 | 416,785 | - | 416,785 | ||||||
- Treasury and other similar bills | 81,517 | - | 81,517 | 78,111 | - | 78,111 | ||||||
- debt securities | 323,256 | - | 323,256 | 338,674 | - | 338,674 | ||||||
Other assets | 35,264 | - | 35,264 | 37,324 | (22) | 37,302 | ||||||
- assets held for sale | 1,375 | - | 1,375 | 3,306 | (22) | 3,284 | ||||||
- endorsements and acceptances | 10,775 | - | 10,775 | 11,624 | - | 11,624 | ||||||
- other | 23,114 | - | 23,114 | 22,394 | - | 22,394 | ||||||
Financial guarantees and similar contracts2 | 47,078 | - | 47,078 | 46,300 | - | 46,300 | ||||||
Loan and other credit-related commitments3 | 651,380 | - | 651,380 | 587,603 | - | 587,603 | ||||||
At 31 December | 3,132,558 | (386,402) | 2,746,156 | 3,111,962 | (373,723) | 2,738,239 | ||||||
For footnotes, see page 202.
Loan and other credit-related commitments3
(Unaudited)
Europe | Asia4 | MENA | North America | Latin America | Total | |||||||
US$m | US$m | US$m | US$m | US$m | US$m | |||||||
Personal | 86,247 | 96,497 | 2,995 | 15,636 | 11,679 | 213,054 | ||||||
Corporate and commercial | 98,045 | 138,366 | 20,141 | 102,911 | 17,540 | 377,003 | ||||||
Financial5 | 26,605 | 9,355 | 711 | 23,559 | 1,093 | 61,323 | ||||||
At 31 December 2014 | 210,897 | 244,218 | 23,847 | 142,106 | 30,312 | 651,380 | ||||||
Personal | 92,148 | 74,445 | 2,940 | 15,647 | 9,774 | 194,954 | ||||||
Corporate and commercial | 91,895 | 120,084 | 19,045 | 92,837 | 21,956 | 345,817 | ||||||
Financial5 | 18,930 | 8,477 | 705 | 17,478 | 1,242 | 46,832 | ||||||
| ||||||||||||
At 31 December 2013 | 202,973 | 203,006 | 22,690 | 125,962 | 32,972 | 587,603 |
For footnotes, see page 202.
(Unaudited)
Concentrations of credit risk are described in the Appendix to Risk on page 206.
The geographical diversification of our lending portfolio and our broad range of global businesses and products ensured that we did not overly depend on a few markets to generate growth in 2014. This diversification also supported our strategy for growth in faster-growing markets and those with international connectivity.
Financial investmentsOur holdings of available-for-sale government and government agency debt securities, corporate debt securities, ABSs and other securities were spread across a wide range of issuers and geographical regions in 2014, with 15% invested in securities issued by banks and other financial institutions and 72% in government or government agency debt securities. We also held assets backing insurance and investment contracts.
For an analysis of financial investments, see Note 18 on the Financial Statements.
Trading assetsTrading securities remained the largest concentration within trading assets at 77% compared with 75% in 2013. The largest concentration within the trading securitiesportfolio was in government and government agency debt securities. We had significant exposures to US Treasury and government agency debt securities (US$26bn) and UK (US$9.3bn) and Hong Kong (US$6.9bn) government debt securities.
For an analysis of debt and equity securities held for trading, see Note 12 on the Financial Statements.
DerivativesDerivative assets were US$345bn at 31 December 2014 (2013: US$282bn). Details of derivative amounts cleared through an exchange, central counterparty and non-central counterparty are shown on page 150.
For an analysis of derivatives, see page 150 and Note 16 on the Financial Statements.
Loans and advances to customersThe following tables analyse loans and advances to customers by industry sector and by the location of the principal operations of the lending subsidiary or, in the case of the operations of The Hongkong and Shanghai Banking Corporation, HSBC Bank, HSBC Bank Middle East Limited ('HSBC Bank Middle East') and HSBC Bank USA, by the location of the lending branch. The distribution of loans across geographical regions and industries remained similar to last year.
For an analysis of loans and advances by country see page 160.
Gross loans and advances to customers by industry sector and by geographical region
(Audited)
Europe | Asia4 | MENA | North America | Latin America | Total | As a % of total gross | ||||||||
US$m | US$m | US$m | US$m | US$m | US$m | loans | ||||||||
Personal | 178,531 | 129,515 | 6,571 | 65,400 | 13,537 | 393,554 | 39.9 | |||||||
- first lien residential mortgages6 | 131,000 | 93,147 | 2,647 | 55,577 | 4,153 | 286,524 | 29.0 | |||||||
- other personal7 | 47,531 | 36,368 | 3,924 | 9,823 | 9,384 | 107,030 | 10.9 | |||||||
Corporate and commercial | 210,585 | 220,799 | 20,588 | 57,862 | 30,722 | 540,556 | 54.8 | |||||||
- manufacturing | 39,456 | 37,767 | 2,413 | 15,299 | 12,051 | 106,986 | 10.9 | |||||||
- international trade and services | 76,629 | 72,814 | 9,675 | 13,484 | 8,189 | 180,791 | 18.3 | |||||||
- commercial real estate | 28,187 | 35,678 | 579 | 6,558 | 2,291 | 73,293 | 7.4 | |||||||
- other property-related | 7,126 | 34,379 | 1,667 | 8,934 | 281 | 52,387 | 5.3 | |||||||
- government | 2,264 | 1,195 | 1,552 | 164 | 968 | 6,143 | 0.6 | |||||||
- other commercial8 | 56,923 | 38,966 | 4,702 | 13,423 | 6,942 | 120,956 | 12.3 | |||||||
Financial | 23,103 | 13,997 | 3,291 | 9,034 | 1,393 | 50,818 | 5.1 | |||||||
- non-bank financial institutions | 21,867 | 13,410 | 3,289 | 9,034 | 1,199 | 48,799 | 4.9 | |||||||
- settlement accounts | 1,236 | 587 | 2 | - | 194 | 2,019 | 0.2 | |||||||
Asset-backed securities reclassified | 1,938 | - | - | 131 | - | 2,069 | 0.2 | |||||||
Total gross loans and advances tocustomers at 31 December 2014 (A) | 414,157 | 364,311 | 30,450 | 132,427 | 45,652 | 986,997 | 100.0 | |||||||
Percentage of A by geographical region | 42.0% | 36.9% | 3.1% | 13.4% | 4.6% | 100.0% | - |
Europe | Asia4 | MENA | North America | Latin America | Total | As a % of total gross | ||||||||
US$m | US$m | US$m | US$m | US$m | US$m | loans | ||||||||
Personal | 192,107 | 124,529 | 6,484 | 72,690 | 14,918 | 410,728 | 40.8 | |||||||
- first lien residential mortgages6 | 140,474 | 92,047 | 2,451 | 60,955 | 3,948 | 299,875 | 29.8 | |||||||
- other personal7 | 51,633 | 32,482 | 4,033 | 11,735 | 10,970 | 110,853 | 11.0 | |||||||
Corporate and commercial | 239,116 | 203,894 | 19,760 | 50,307 | 30,188 | 543,265 | 53.9 | |||||||
- manufacturing | 55,920 | 30,758 | 3,180 | 11,778 | 12,214 | 113,850 | 11.3 | |||||||
- international trade and services | 76,700 | 79,368 | 8,629 | 11,676 | 8,295 | 184,668 | 18.3 | |||||||
- commercial real estate | 31,326 | 34,560 | 639 | 5,900 | 2,421 | 74,846 | 7.4 | |||||||
- other property-related | 7,308 | 27,147 | 1,333 | 8,716 | 328 | 44,832 | 4.5 | |||||||
- government | 3,340 | 1,021 | 1,443 | 499 | 974 | 7,277 | 0.7 | |||||||
- other commercial8 | 64,522 | 31,040 | 4,536 | 11,738 | 5,956 | 117,792 | 11.7 | |||||||
Financial | 27,872 | 9,688 | 2,532 | 9,055 | 1,376 | 50,523 | 5.0 | |||||||
- non-bank financial institutions | 26,314 | 9,359 | 2,532 | 9,055 | 1,277 | 48,537 | 4.8 | |||||||
- settlement accounts | 1,558 | 329 | - | - | 99 | 1,986 | 0.2 | |||||||
Asset-backed securities reclassified | 2,578 | - | - | 138 | - | 2,716 | 0.3 | |||||||
Total gross loans and advances tocustomers at 31 December 2013 (B) | 461,673 | 338,111 | 28,776 | 132,190 | 46,482 | 1,007,232 | 100.0 | |||||||
Percentage of B by geographical region | 45.8% | 33.6% | 2.9% | 13.1% | 4.6% | 100.0% |
For footnotes, see page 202.
(Audited)
A summary of our current policies and practices regarding the credit quality of financial instruments is provided in the Appendix to Risk on page 207.
We assess credit quality on all financial instruments which are subject to credit risk.
The five classifications describing the credit quality of our lending, debt securities portfolios and derivatives are defined on page 207 (unaudited). Additional credit quality information in respect of our consolidated holdings of ABSs is provided on page 162.
For the purpose of the following disclosure, retail loans which are past due up to 90 days and are not otherwise classified as impaired in accordance with our disclosure convention are not disclosed within the expected loss ('EL') grade to which they relate, but are separately classified as past due but not impaired.
The overall credit quality of assets remained stable with 'Strong' and 'Good' categories making up 84% of the portfolio, 'Satisfactory' 13%, 'Sub-standard' and 'Past due but not impaired' 2% and 'Impaired' 1%.
Distribution of financial instruments by credit quality
(Audited)
Neither past due nor impaired | Past due but not impaired | Total gross amount | Impairment allowances9 | Total | ||||||||||||||
Strong | Good | Satisfactory | Sub- standard | Impaired | ||||||||||||||
|
|
|
| |||||||||||||||
US$m |
| US$m |
| US$m |
| US$m | US$m |
| US$m |
| US$m |
| US$m |
| US$m | |||
Cash and balances at central banks | 127,971 | 1,438 | 195 | 353 | 129,957 | 129,957 | ||||||||||||
Items in the course of collection from other banks | 4,515 | 46 | 365 | 1 | 4,927 | 4,927 | ||||||||||||
Hong Kong Government certificates of indebtedness | 27,674 | - | - | - | 27,674 | 27,674 | ||||||||||||
Trading assets10 | 168,521 | 35,042 | 24,740 | 641 | 228,944 | 228,944 | ||||||||||||
- treasury and other eligible bills | 13,938 | 1,641 | 559 | 32 | 16,170 | 16,170 | ||||||||||||
- debt securities | 111,138 | 17,786 | 12,305 | 303 | 141,532 | 141,532 | ||||||||||||
- loans and advances: | ||||||||||||||||||
to banks | 17,492 | 4,961 | 5,016 | 112 | 27,581 | 27,581 | ||||||||||||
to customers | 25,953 | 10,654 | 6,860 | 194 | 43,661 | 43,661 | ||||||||||||
Financial assets designated atfair value10 | 3,017 | 4,476 | 1,207 | 331 | 9,031 | 9,031 | ||||||||||||
- treasury and other eligible bills | 5 | - | - | 51 | 56 | 56 | ||||||||||||
- debt securities | 3,011 | 4,476 | 1,124 | 280 | 8,891 | 8,891 | ||||||||||||
- loans and advances: | ||||||||||||||||||
to banks | 1 | - | 83 | - | 84 | 84 | ||||||||||||
to customers | - | - | - | - | - | - | ||||||||||||
Derivatives10 | 269,490 | 58,596 | 15,962 | 960 | 345,008 | 345,008 | ||||||||||||
Loans and advances to customers held at amortised cost11 | 487,734 | 239,136 | 196,685 | 20,802 | 13,357 | 29,283 | 986,997 | (12,337) | 974,660 | |||||||||
- personal | 320,678 | 32,601 | 15,109 | 1,130 | 8,876 | 15,160 | 393,554 | (4,600) | 388,954 | |||||||||
- corporate and commercial | 141,375 | 192,799 | 171,748 | 18,986 | 3,922 | 13,795 | 542,625 | (7,441) | 535,184 | |||||||||
- financial (non-bankfinancial institutions) | 25,681 | 13,736 | 9,828 | 686 | 559 | 328 | 50,818 | (296) | 50,522 | |||||||||
Loans and advances to banks held at amortised cost | 83,766 | 19,525 | 7,945 | 914 | 1 | 47 | 112,198 | (49) | 112,149 | |||||||||
Reverse repurchase agreements- non-trading | 98,470 | 28,367 | 33,283 | 1,593 | - | - | 161,713 | - | 161,713 | |||||||||
Financial investments | 347,218 | 27,373 | 22,600 | 5,304 | - | 2,278 | 404,773 | 404,773 | ||||||||||
- treasury and other similar bills | 68,966 | 6,294 | 4,431 | 1,826 | - | - | 81,517 | 81,517 | ||||||||||
- debt securities | 278,252 | 21,079 | 18,169 | 3,478 | - | 2,278 | 323,256 | 323,256 | ||||||||||
Other assets | 13,015 | 7,564 | 12,976 | 631 | 210 | 884 | 35,280 | (16) | 35,264 | |||||||||
- assets held for sale | 802 | 43 | 79 | - | 2 | 465 | 1,391 | (16) | 1,375 | |||||||||
- endorsements and acceptances | 1,507 | 4,644 | 4,281 | 298 | 34 | 11 | 10,775 | 10,775 | ||||||||||
- accrued income and other | 10,706 | 2,877 | 8,616 | 333 | 174 | 408 | 23,114 | 23,114 | ||||||||||
At 31 December 2014 | 1,631,391 | 421,563 | 315,958 | 31,530 | 13,568 | 32,492 | 2,446,502 | (12,402) | 2,434,100 | |||||||||
Neither past due nor impaired | Past due | Total gross amount | ||||||||||||||||
Strong | Good | Satisfactory | Sub- standard | but not impaired | Impaired | Impairment allowances9 | Total | |||||||||||
US$m | US$m | US$m | US$m | US$m | US$m | US$m | US$m | US$m | ||||||||||
Cash and balances at central banks | 162,017 | 2,877 | 265 | 1,440 | 166,599 | 166,599 | ||||||||||||
Items in the course of collection from other banks | 5,590 | 66 | 286 | 79 | 6,021 | 6,021 | ||||||||||||
Hong Kong Government certificates of indebtedness | 25,220 | - | - | - | 25,220 | 25,220 | ||||||||||||
Trading assets10 | 163,444 | 39,475 | 34,868 | 1,514 | 239,301 | 239,301 | ||||||||||||
- treasury and other eligible bills | 17,235 | 3,585 | 758 | 6 | 21,584 | 21,584 | ||||||||||||
- debt securities | 107,831 | 16,498 | 16,167 | 1,148 | 141,644 | 141,644 | ||||||||||||
- loans and advances: | ||||||||||||||||||
to banks | 15,804 | 5,546 | 6,342 | 193 | 27,885 | 27,885 | ||||||||||||
to customers | 22,574 | 13,846 | 11,601 | 167 | 48,188 | 48,188 | ||||||||||||
Financial assets designated atfair value10 | 6,608 | 5,183 | 671 | 257 | 12,719 | 12,719 | ||||||||||||
- treasury and other eligible bills | 50 | - | - | - | 50 | 50 | ||||||||||||
- debt securities | 6,490 | 5,179 | 664 | 256 | 12,589 | 12,589 | ||||||||||||
- loans and advances: | ||||||||||||||||||
to banks | 68 | - | 7 | 1 | 76 | 76 | ||||||||||||
to customers | - | 4 | - | - | 4 | 4 | ||||||||||||
Derivatives10 | 220,711 | 47,004 | 13,425 | 1,125 | 282,265 | 282,265 | ||||||||||||
Loans and advances to customers held at amortised cost11 | 488,504 | 243,077 | 199,821 | 23,942 | 15,460 | 36,428 | 1,007,232 | (15,143) | 992,089 | |||||||||
- personal | 326,269 | 39,024 | 14,882 | 1,580 | 10,175 | 18,798 | 410,728 | (6,602) | 404,126 | |||||||||
- corporate and commercial | 132,943 | 194,966 | 174,905 | 21,281 | 5,009 | 16,877 | 545,981 | (8,059) | 537,922 | |||||||||
- financial (non-bankfinancial institutions) | 29,292 | 9,087 | 10,034 | 1,081 | 276 | 753 | 50,523 | (482) | 50,041 | |||||||||
Loans and advances to banks held at amortised cost | 91,498 | 21,131 | 6,266 | 1,123 | 11 | 75 | 120,104 | (58) | 120,046 | |||||||||
Reverse repurchase agreements- non-trading | 111,543 | 37,878 | 28,265 | 2,004 | - | - | 179,690 | - | 179,690 | |||||||||
Financial investments | 362,799 | 27,833 | 17,556 | 6,089 | - | 2,508 | 416,785 | 416,785 | ||||||||||
- treasury and other similar bills | 69,364 | 5,595 | 1,856 | 1,296 | - | - | 78,111 | 78,111 | ||||||||||
- debt securities | 293,435 | 22,238 | 15,700 | 4,793 | - | 2,508 | 338,674 | 338,674 | ||||||||||
Other assets | 12,501 | 8,028 | 14,848 | 1,159 | 307 | 592 | 37,435 | (111) | 37,324 | |||||||||
- assets held for sale | 1,129 | 642 | 1,050 | 351 | 89 | 156 | 3,417 | (111) | 3,306 | |||||||||
- endorsements and acceptances | 1,976 | 4,824 | 4,562 | 225 | 19 | 18 | 11,624 | 11,624 | ||||||||||
- accrued income and other | 9,396 | 2,562 | 9,236 | 583 | 199 | 418 | 22,394 | 22,394 | ||||||||||
At 31 December 2013 | 1,650,435 | 432,552 | 316,271 | 38,732 | 15,778 | 39,603 | 2,493,371 | (15,312) | 2,478,059 | |||||||||
For footnotes, see page 202.
(Audited)
Past due but not impaired gross financial instruments are those loans where, although customers have failed to make payments in accordance with the contractual terms of their facilities, they have not met the impaired loan criteria described on page 137.
Overall, past due but not impaired balances decreased by US$2.2bn, mainly due to continued run-off and loan sales in the CML portfolio.
Past due but not impaired gross financial instruments by geographical region
(Audited)
Europe | Asia4 | MENA | North America | Latin America | Total | |||||||
US$m | US$m | US$m | US$m | US$m | US$m | |||||||
Loans and advances to customers held atamortised cost | 2,409 | 4,260 | 704 | 4,634 | 1,350 | 13,357 | ||||||
- personal | 1,159 | 2,880 | 182 | 3,759 | 896 | 8,876 | ||||||
- corporate and commercial | 1,244 | 1,102 | 508 | 623 | 445 | 3,922 | ||||||
- financial (non-bank financial institutions) | 6 | 278 | 14 | 252 | 9 | 559 | ||||||
Other financial instruments | 6 | 52 | 31 | 97 | 25 | 211 | ||||||
At 31 December 2014 | 2,415 | 4,312 | 735 | 4,731 | 1,375 | 13,568 | ||||||
Loans and advances to customers held atamortised cost | 2,399 | 4,211 | 757 | 6,453 | 1,640 | 15,460 | ||||||
- personal | 1,287 | 2,764 | 174 | 4,817 | 1,133 | 10,175 | ||||||
- corporate and commercial | 1,092 | 1,197 | 580 | 1,635 | 505 | 5,009 | ||||||
- financial (non-bank financial institutions) | 20 | 250 | 3 | 1 | 2 | 276 | ||||||
Other financial instruments | 45 | 49 | 50 | 101 | 73 | 318 | ||||||
At 31 December 2013 | 2,444 | 4,260 | 807 | 6,554 | 1,713 | 15,778 |
For footnote, see page 202.
Ageing analysis of days for past due but not impaired gross financial instruments
(Audited)
Up to 29 days | 30-59days | 60-89days | 90-179 days | 180 days and over | Total | |||||||
US$m | US$m | US$m | US$m | US$m | US$m | |||||||
Loans and advances to customers held at amortised cost | 10,427 | 2,057 | 801 | 54 | 18 | 13,357 | ||||||
- personal | 6,477 | 1,717 | 676 | 5 | 1 | 8,876 | ||||||
- corporate and commercial | 3,417 | 328 | 114 | 48 | 15 | 3,922 | ||||||
- financial (non-bank financial institutions) | 533 | 12 | 11 | 1 | 2 | 559 | ||||||
Other financial instruments | 130 | 33 | 18 | 12 | 18 | 211 | ||||||
At 31 December 2014 | 10,557 | 2,090 | 819 | 66 | 36 | 13,568 | ||||||
Loans and advances to customers held at amortised cost | 11,689 | 2,587 | 1,057 | 76 | 51 | 15,460 | ||||||
- personal | 7,170 | 2,124 | 865 | 16 | - | 10,175 | ||||||
- corporate and commercial | 4,290 | 418 | 190 | 60 | 51 | 5,009 | ||||||
- financial (non-bank financial institutions) | 229 | 45 | 2 | - | - | 276 | ||||||
Other financial instruments | 214 | 55 | 26 | 12 | 11 | 318 | ||||||
At 31 December 2013 | 11,903 | 2,642 | 1,083 | 88 | 62 | 15,778 |
Impaired loans
(Audited)
Impaired loans and advances are those that meet any of the following criteria:
· wholesale loans and advances classified as Customer Risk Rating ('CRR') 9 or CRR 10. These grades are assigned when the bank considers that either the customer is unlikely to pay their credit obligations in full, without recourse to security, or when the customer is more than 90 days past due on any material credit obligation to HSBC.
· retail loans and advances classified as Expected Loss ('EL') 9 or EL 10. These grades are typically assigned to retail loans and advances more than 90 days past due unless individually they have been assessed as not impaired.
· renegotiated loans and advances that have been subject to a change in contractual cash flows as a result of a concession which the lender would not otherwise consider, and where it is probable that without the concession the borrower would be unable to meet the contractual payment obligations in full, unless the concession is insignificant and there are no other indicators of impairment. Renegotiated loans remain classified as impaired until there is sufficient evidence to demonstrate a significant reduction in the risk of non-payment of future cash flows, and there are no other indicators of impairment.
For loans that are assessed for impairment on a collective basis, the evidence to support reclassification as no longer impaired typically comprises a history of payment performance against the original or revised terms, depending on the nature and volume of renegotiation and the credit risk characteristics surrounding the renegotiation. For loans that are assessed for impairment on an individual basis, all available evidence is assessed on a case-by-case basis.
For further details of the CRR and the EL scales see page 207.
Movement in impaired loans by geographical region
(Unaudited)
Europe | Asia4 | MENA | North America | Latin America | Total | |||||||
US$m | US$m | US$m | US$m | US$m | US$m | |||||||
Impaired loans at 1 January 2014 | 13,228 | 1,623 | 2,285 | 15,123 | 4,244 | 36,503 | ||||||
- personal | 2,938 | 526 | 317 | 13,669 | 1,348 | 18,798 | ||||||
- corporate and commercial | 9,714 | 1,082 | 1,765 | 1,427 | 2,889 | 16,877 | ||||||
- financial5 | 576 | 15 | 203 | 27 | 7 | 828 | ||||||
Classified as impaired during the year | 3,367 | 1,970 | 346 | 4,724 | 3,342 | 13,749 | ||||||
- personal | 1,168 | 857 | 193 | 4,360 | 1,958 | 8,536 | ||||||
- corporate and commercial | 2,166 | 1,113 | 153 | 354 | 1,383 | 5,169 | ||||||
- financial5 | 33 | - | - | 10 | 1 | 44 | ||||||
Transferred from impaired to unimpaired duringthe year | (1,661) | (230) | (320) | (2,609) | (730) | (5,550) | ||||||
- personal | (282) | (184) | (178) | (2,551) | (364) | (3,559) | ||||||
- corporate and commercial | (1,319) | (46) | (53) | (57) | (366) | (1,841) | ||||||
- financial5 | (60) | - | (89) | (1) | - | (150) | ||||||
Amounts written off | (2,037) | (617) | (111) | (1,369) | (2,048) | (6,182) | ||||||
- personal | (631) | (470) | (77) | (1,007) | (1,371) | (3,556) | ||||||
- corporate and commercial | (1,201) | (147) | (29) | (356) | (673) | (2,406) | ||||||
- financial5 | (205) | - | (5) | (6) | (4) | (220) | ||||||
Net repayments and other | (2,655) | (698) | (219) | (4,175) | (1,443) | (9,190) | ||||||
- personal | (649) | (238) | (13) | (3,645) | (514) | (5,059) | ||||||
- corporate and commercial | (1,975) | (457) | (140) | (506) | (926) | (4,004) | ||||||
- financial5 | (31) | (3) | (66) | (24) | (3) | (127) | ||||||
Impaired loans at 31 December 2014 | 10,242 | 2,048 | 1,981 | 11,694 | 3,365 | 29,330 | ||||||
- personal | 2,544 | 491 | 242 | 10,826 | 1,057 | 15,160 | ||||||
- corporate and commercial | 7,385 | 1,545 | 1,696 | 862 | 2,307 | 13,795 | ||||||
- financial5 | 313 | 12 | 43 | 6 | 1 | 375 | ||||||
Impaired loans as a percentage of gross loans | % | 2.3% | 0.5% | 4.8% | 8.4% | 6.1% | 2.7% | |||||
- personal | 1.4% | 0.4% | 3.7% | 16.6% | 7.8% | 3.9% | ||||||
- corporate and commercial | 3.5% | 0.7% | 8.2% | 1.5% | 7.5% | 2.5% | ||||||
- financial5 | 0.7% | 0.0% | 0.3% | 0.0% | 0.0% | 0.2% |
Movement in impaired loans by geographical region (continued)
(Unaudited)
Europe | Asia4 | MENA | North America | Latin America | Total | |||||||
US$m | US$m | US$m | US$m | US$m | US$m | |||||||
Impaired loans at 1 January 2013 | 11,145 | 1,624 | 2,474 | 20,345 | 3,188 | 38,776 | ||||||
- personal | 2,466 | 611 | 368 | 18,726 | 1,580 | 23,751 | ||||||
- corporate and commercial | 8,058 | 967 | 1,872 | 1,592 | 1,604 | 14,093 | ||||||
- financial5 | 621 | 46 | 234 | 27 | 4 | 932 | ||||||
Classified as impaired during the year | 4,952 | 1,424 | 419 | 6,168 | 4,333 | 17,296 | ||||||
- personal | 1,176 | 798 | 107 | 5,319 | 1,872 | 9,272 | ||||||
- corporate and commercial | 3,726 | 623 | 306 | 837 | 2,453 | 7,945 | ||||||
- financial5 | 50 | 3 | 6 | 12 | 8 | 79 | ||||||
Transferred from impaired to unimpaired duringthe year | (1,215) | (145) | (166) | (3,198) | (642) | (5,366) | ||||||
- personal | (265) | (137) | (68) | (3,172) | (266) | (3,908) | ||||||
- corporate and commercial | (804) | (8) | (85) | (24) | (375) | (1,296) | ||||||
- financial5 | (146) | - | (13) | (2) | (1) | (162) | ||||||
Amounts written off | (1,411) | (538) | (165) | (1,706) | (1,957) | (5,777) | ||||||
- personal | (423) | (444) | (79) | (1,433) | (1,456) | (3,835) | ||||||
- corporate and commercial | (927) | (91) | (75) | (270) | (499) | (1,862) | ||||||
- financial5 | (61) | (3) | (11) | (3) | (2) | (80) | ||||||
Net repayments and other | (243) | (742) | (277) | (6,486) | (678) | (8,426) | ||||||
- personal | (16) | (302) | (11) | (5,771) | (382) | (6,482) | ||||||
- corporate and commercial | (339) | (409) | (253) | (708) | (294) | (2,003) | ||||||
- financial5 | 112 | (31) | (13) | (7) | (2) | 59 | ||||||
Impaired loans at 31 December 2013 | 13,228 | 1,623 | 2,285 | 15,123 | 4,244 | 36,503 | ||||||
- personal | 2,938 | 526 | 317 | 13,669 | 1,348 | 18,798 | ||||||
- corporate and commercial | 9,714 | 1,082 | 1,765 | 1,427 | 2,889 | 16,877 | ||||||
- financial5 | 576 | 15 | 203 | 27 | 7 | 828 | ||||||
Impaired loans as a percentage of gross loans | 2.7% | 0.4% | 6.5% | 10.9% | 7.5% | 3.2% | ||||||
- personal | 1.5% | 0.4% | 4.9% | 18.8% | 9.0% | 4.6% | ||||||
- corporate and commercial | 4.0% | 0.5% | 8.9% | 2.8% | 9.6% | 3.1% | ||||||
- financial5 | 1.1% | 0.0% | 2.3% | 0.2% | 0.1% | 0.5% |
For footnotes, see page 202.
Impaired loans decreased by US$7.2bn during the year. Personal impaired loans declined mainly due to the continued run off and loan sales in the CML portfolio in North America. In personal lending, 'Net repayments and other' includes US$2.9bn of CML portfolio assets that were reclassified as held for sale and also sold during the year.
Impaired loans in wholesale lending declined mainly in Europe and, to a lesser extent, in North America and Latin America due to repayments and a reduction in new impaired loans which reflected improvements in the economic conditions in these markets. These decreases were offset by an increase in Asia.
Renegotiated loans and forbearance(Audited)
Current policies and procedures regarding renegotiated loans and forbearance are described in the Appendix to Risk on page 208.
The contractual terms of a loan may be modified for a number of reasons, including changes in market conditions, customer retention and other factors not related to the current or potential credit deterioration of a customer. 'Forbearance' describes concessions made on the contractual terms of a loan in response to an obligor's financial difficulties. We classify and report loans on which concessions have been granted under conditions of credit distress as 'renegotiated loans' when their contractual payment terms have been modified, because we have significant concerns about the borrowers' ability to meet contractual payments when due. On renegotiation, where the existing agreement is cancelled and a new agreement is made on substantially different terms, or if the terms of an existing agreement are modified such that the renegotiated loan is substantially a different financial instrument, the loan would be derecognised and recognised as a new loan for accounting purposes. However, the newly recognised financial asset will retain the renegotiated loan classification. Concessions on loans made to customers which do not affect the payment structure or basis of repayment, such as waivers of financial or security covenants, do not directly provide concessionary relief to customers in terms of their ability to service obligations as they fall due and are therefore not included in this classification.
The most significant portfolio of renegotiated loans remained in North America, substantially all of which were retail loans held by HSBC Finance.
The following tables show the gross carrying amounts of the Group's holdings of renegotiated loans and advances to customers by industry sector, geography and credit quality classification.
Renegotiated loans and advances to customers by geographical region
(Audited)
Europe | Asia4 | MENA | North America | Latin America | Total | |||||||
US$m | US$m | US$m | US$m | US$m | US$m | |||||||
First lien residential mortgages | 1,605 | 94 | 58 | 13,540 | 60 | 15,357 | ||||||
- neither past due nor impaired | 529 | 63 | 19 | 3,695 | 32 | 4,338 | ||||||
- past due but not impaired | 221 | 8 | 1 | 1,894 | 5 | 2,129 | ||||||
- impaired | 855 | 23 | 38 | 7,951 | 23 | 8,890 | ||||||
Other personal lending7 | 324 | 292 | 27 | 1,267 | 326 | 2,236 | ||||||
- neither past due nor impaired | 184 | 173 | 16 | 453 | 14 | 840 | ||||||
- past due but not impaired | 40 | 22 | 5 | 214 | 1 | 282 | ||||||
- impaired | 100 | 97 | 6 | 600 | 311 | 1,114 | ||||||
Corporate and commercial | 5,469 | 501 | 1,439 | 427 | 1,324 | 9,160 | ||||||
- neither past due nor impaired | 1,383 | 102 | 483 | 36 | 303 | 2,307 | ||||||
- past due but not impaired | 68 | - | 31 | 1 | 1 | 101 | ||||||
- impaired | 4,018 | 399 | 925 | 390 | 1,020 | 6,752 | ||||||
Financial5 | 413 | 4 | 323 | 1 | 1 | 742 | ||||||
- neither past due nor impaired | 219 | - | 305 | - | - | 524 | ||||||
- past due but not impaired | - | - | - | - | - | - | ||||||
- impaired | 194 | 4 | 18 | 1 | 1 | 218 | ||||||
Renegotiated loans at 31 December 2014 | 7,811 | 891 | 1,847 | 15,235 | 1,711 | 27,495 | ||||||
- neither past due nor impaired | 2,315 | 338 | 823 | 4,184 | 349 | 8,009 | ||||||
- past due but not impaired | 329 | 30 | 37 | 2,109 | 7 | 2,512 | ||||||
- impaired | 5,167 | 523 | 987 | 8,942 | 1,355 | 16,974 | ||||||
Impairment allowances on renegotiated loans | 1,458 | 170 | 458 | 1,499 | 704 | 4,289 | ||||||
- renegotiated loans as % of total gross loans | 1.9% | 0.2% | 6.1% | 11.5% | 3.7% | 2.8% | ||||||
First lien residential mortgages | 1,820 | 117 | 91 | 16,853 | 76 | 18,957 | ||||||
- neither past due nor impaired | 392 | 78 | 47 | 4,332 | 32 | 4,881 | ||||||
- past due but not impaired | 517 | 11 | 3 | 2,684 | 4 | 3,219 | ||||||
- impaired | 911 | 28 | 41 | 9,837 | 40 | 10,857 | ||||||
Other personal lending7 | 431 | 318 | 58 | 1,277 | 531 | 2,615 | ||||||
- neither past due nor impaired | 253 | 207 | 33 | 503 | 18 | 1,014 | ||||||
- past due but not impaired | 39 | 24 | 17 | 284 | 2 | 366 | ||||||
- impaired | 139 | 87 | 8 | 490 | 511 | 1,235 | ||||||
Corporate and commercial | 7,270 | 330 | 1,583 | 658 | 2,161 | 12,002 | ||||||
- neither past due nor impaired | 1,796 | 134 | 677 | 47 | 493 | 3,147 | ||||||
- past due but not impaired | 193 | 4 | 126 | 34 | 5 | 362 | ||||||
- impaired | 5,281 | 192 | 780 | 577 | 1,663 | 8,493 | ||||||
Financial5 | 235 | 2 | 362 | 1 | 1 | 601 | ||||||
- neither past due nor impaired | 93 | - | 265 | - | - | 358 | ||||||
- past due but not impaired | - | - | - | - | - | - | ||||||
- impaired | 142 | 2 | 97 | 1 | 1 | 243 | ||||||
Renegotiated loans at 31 December 2013 | 9,756 | 767 | 2,094 | 18,789 | 2,769 | 34,175 | ||||||
- neither past due nor impaired | 2,534 | 419 | 1,022 | 4,882 | 543 | 9,400 | ||||||
- past due but not impaired | 749 | 39 | 146 | 3,002 | 11 | 3,947 | ||||||
- impaired | 6,473 | 309 | 926 | 10,905 | 2,215 | 20,828 | ||||||
Impairment allowances on renegotiated loans | 1,867 | 101 | 460 | 2,285 | 1,014 | 5,727 | ||||||
- renegotiated loans as % of total gross loans | 2.1% | 0.2% | 7.3% | 14.2% | 6.0% | 3.4% |
For footnotes, see page 202.
The following table shows movements in renegotiated loans during the year. Renegotiated loans reduced by US$6.7bn to US$27bn in 2014. Renegotiated loans in personal lending reduced by US$4bn. Included within 'other' movements is US$1.9bn of CML portfolio assets that were transferred to held for sale. New renegotiated loans and write-offs reduced as a result of improvements in the US housing market and economic conditions.
Renegotiated loans in wholesale lending decreased by US$2.7bn. The reductions were mainly concentrated in Europe and Latin America and were the result of increased write-offs and repayments.
Movement in renegotiated loans by geographical region
(Unaudited)
Europe | Asia4 | MENA | North America | Latin America | Total | |||||||
US$m | US$m | US$m | US$m | US$m | US$m | |||||||
Renegotiated loans at 1 January 2014 | 9,756 | 767 | 2,094 | 18,789 | 2,769 | 34,175 | ||||||
- personal | 2,251 | 435 | 149 | 18,130 | 607 | 21,572 | ||||||
- corporate and commercial | 7,270 | 330 | 1,583 | 658 | 2,161 | 12,002 | ||||||
- financial | 235 | 2 | 362 | 1 | 1 | 601 | ||||||
Loans renegotiated in the year without derecognition | 1,543 | 371 | 296 | 862 | 725 | 3,797 | ||||||
- personal | 433 | 83 | 10 | 774 | 310 | 1,610 | ||||||
- corporate and commercial | 939 | 288 | 286 | 78 | 415 | 2,006 | ||||||
- financial | 171 | - | - | 10 | - | 181 | ||||||
Loans renegotiated in the year resulting in recognition of a new loan | 500 | 5 | 79 | - | 92 | 676 | ||||||
- personal | 69 | 2 | - | - | 28 | 99 | ||||||
- corporate and commercial | 381 | - | 61 | - | 64 | 506 | ||||||
- financial | 50 | 3 | 18 | - | - | 71 | ||||||
Repayments | (2,416) | (246) | (562) | (1,518) | (1,036) | (5,778) | ||||||
- personal | (635) | (96) | (47) | (1,319) | (288) | (2,385) | ||||||
- corporate and commercial | (1,757) | (149) | (445) | (189) | (747) | (3,287) | ||||||
- financial | (24) | (1) | (70) | (10) | (1) | (106) | ||||||
Amounts written off | (828) | (42) | (23) | (640) | (510) | (2,043) | ||||||
- personal | (88) | (28) | (7) | (568) | (223) | (914) | ||||||
- corporate and commercial | (740) | (14) | (16) | (72) | (286) | (1,128) | ||||||
- financial | - | - | - | - | (1) | (1) | ||||||
Other | (744) | 36 | (37) | (2,258) | (329) | (3,332) | ||||||
- personal | (101) | (10) | (20) | (2,210) | (48) | (2,389) | ||||||
- corporate and commercial | (624) | 46 | (30) | (48) | (283) | (939) | ||||||
- financial | (19) | - | 13 | - | 2 | (4) | ||||||
At 31 December 2014 | 7,811 | 891 | 1,847 | 15,235 | 1,711 | 27,495 | ||||||
- personal | 1,929 | 386 | 85 | 14,807 | 386 | 17,593 | ||||||
- corporate and commercial | 5,469 | 501 | 1,439 | 427 | 1,324 | 9,160 | ||||||
- financial | 413 | 4 | 323 | 1 | 1 | 742 | ||||||
Renegotiated loans at 1 January 2013 | 9,974 | 944 | 2,389 | 26,162 | 2,758 | 42,227 | ||||||
- personal | 2,817 | 493 | 190 | 25,474 | 781 | 29,755 | ||||||
- corporate and commercial | 6,829 | 447 | 1,859 | 685 | 1,975 | 11,795 | ||||||
- financial | 328 | 4 | 340 | 3 | 2 | 677 | ||||||
Loans renegotiated in the year without derecognition | 2,807 | 49 | 101 | 1,727 | 1,311 | 5,995 | ||||||
- personal | 264 | 8 | 16 | 1,335 | 507 | 2,130 | ||||||
- corporate and commercial | 2,541 | 41 | 85 | 391 | 803 | 3,861 | ||||||
- financial | 2 | - | - | 1 | 1 | 4 | ||||||
Loans renegotiated in the year resulting in recognition of a new loan | 105 | 113 | 14 | - | 62 | 294 | ||||||
- personal | 17 | 76 | 14 | - | 25 | 132 | ||||||
- corporate and commercial | 88 | 37 | - | - | 37 | 162 | ||||||
- financial | - | - | - | - | - | - | ||||||
Repayments | (2,139) | (233) | (541) | (1,759) | (707) | (5,379) | ||||||
- personal | (489) | (111) | (64) | (1,387) | (353) | (2,404) | ||||||
- corporate and commercial | (1,574) | (121) | (477) | (370) | (354) | (2,896) | ||||||
- financial | (76) | (1) | - | (2) | - | (79) | ||||||
Amounts written off | (426) | (25) | (38) | (1,035) | (409) | (1,933) | ||||||
- personal | (99) | (20) | (9) | (995) | (233) | (1,356) | ||||||
- corporate and commercial | (303) | (5) | (29) | (40) | (175) | (552) | ||||||
- financial | (24) | - | - | - | (1) | (25) | ||||||
Other | (565) | (81) | 169 | (6,306) | (246) | (7,029) | ||||||
- personal | (259) | (11) | 2 | (6,297) | (120) | (6,685) | ||||||
- corporate and commercial | (311) | (69) | 145 | (8) | (125) | (368) | ||||||
- financial | 5 | (1) | 22 | (1) | (1) | 24 | ||||||
At 31 December 2013 | 9,756 | 767 | 2,094 | 18,789 | 2,769 | 34,175 | ||||||
- personal | 2,251 | 435 | 149 | 18,130 | 607 | 21,572 | ||||||
- corporate and commercial | 7,270 | 330 | 1,583 | 658 | 2,161 | 12,002 | ||||||
- financial | 235 | 2 | 362 | 1 | 1 | 601 | ||||||
For footnote, see page 202.