HSBC Holdings Regulatory News (HSBA)

31 Jul 2006 09:15

HSBC Holdings PLC31 July 2006 Consolidated Income Statement 30Jun05 31Dec05 Half-year to 30Jun06 US$m US$m US$m £m HK$m 29,202 30,892 Interest income 35,785 20,004 277,620(13,886) (14,874) Interest expense (19,054) (10,651) (147,821) 15,316 16,018 Net interest income 16,731 9,353 129,799 8,558 8,928 Fee income 10,441 5,837 81,001 (1,514) (1,516) Fee expense (2,061) (1,152) (15,989) 7,044 7,412 Net fee income 8,380 4,685 65,012 Trading income excluding net 1,804 1,852 interest income 3,112 1,740 24,143 Net interest income on trading 1,087 1,121 activities 1,149 642 8,914 2,891 2,973 Net trading income 4,261 2,382 33,057 Net income from financial instruments designated at fair 547 487 value 260 145 2,017 Gains less losses from financial 354 338 investments 493 276 3,825 95 60 Dividend income 222 124 1,722 2,396 3,040 Net earned insurance premiums 2,834 1,584 21,986 1,146 1,587 Other operating income 1,153 645 8,945 29,789 31,915 Total operating income 34,334 19,194 266,363 Net insurance claims incurred and movement in policyholders' (1,760) (2,307) liabilities (2,149) (1,201) (16,672) Net operating income before loan impairment charges and other credit 28,029 29,608 risk provisions 32,185 17,993 249,691 Loan impairment charges and other (3,277) (4,524) credit risk provisions (3,890) (2,175) (30,179) 24,752 25,084 Net operating income 28,295 15,818 219,512 (7,869) (8,276) Employee compensation and benefits (8,992) (5,027) (69,760) (5,444) (5,739) General and administrative expenses (6,065) (3,390) (47,052) Depreciation of property, plant and (831) (801) equipment (748) (418) (5,803) Amortisation and impairment of (276) (278) intangible assets (334) (187) (2,591) (14,420) (15,094) Total operating expenses (16,139) (9,022) (125,206) 10,332 9,990 Operating profit 12,156 6,796 94,306 Share of profit in associates and 308 336 joint ventures 361 202 2,801 10,640 10,326 Profit before tax 12,517 6,998 97,107 (2,658) (2,435) Tax expense (3,272) (1,829) (25,384) 7,982 7,891 Profit for the period 9,245 5,169 71,723 Profit attributable to shareholders 7,596 7,485 of the parent company 8,729 4,880 67,720 Profit attributable to minority 386 406 interests 516 289 4,003 Consolidated Balance Sheet At30Jun05 At31Dec05 At 30Jun06 US$m US$m US$m £m HK$m ASSETS Cash and balances at central 8,905 13,712 banks 24,343 13,194 189,072 Items in the course of 11,717 11,300 collection from other banks 12,425 6,734 96,505 Hong Kong Government 12,196 12,554 certificates of indebtedness 12,588 6,823 97,774 165,159 190,257 Trading assets 226,650 122,844 1,760,391 Trading assets which may be repledged or resold by 50,142 42,652 counterparties 72,645 39,374 564,234 Financial assets designated at 14,033 15,046 fair value 16,855 9,135 130,913 63,594 73,928 Derivatives 104,665 56,728 812,933 155,141 125,965 Loans and advances to banks 162,482 88,065 1,261,998 706,724 740,002 Loans and advances to customers 814,209 441,301 6,323,961 179,574 176,301 Financial investments 187,438 101,591 1,455,831 Financial investments which may be repledged or resold by 9,113 6,041 counterparties 4,896 2,654 38,027 Interests in associates and 5,067 7,249 joint ventures 7,795 4,225 60,544 32,500 33,200 Goodwill and intangible assets 34,544 18,723 268,303 15,032 15,206 Property, plant and equipment 15,277 8,280 118,656 26,765 26,596 Other assets 27,542 14,929 213,916 11,148 11,961 Prepayments and accrued income 13,784 7,471 107,060 1,466,810 1,501,970 Total assets 1,738,138 942,071 13,500,118 At 30Jun05 At 31Dec05 At 30Jun06 US$m US$m US$m £m HK$m LIABILITIES AND EQUITY Liabilities Hong Kong currency notes in 12,196 12,554 circulation 12,588 6,823 97,774 101,747 69,727 Deposits by banks 83,139 45,061 645,741 710,464 739,419 Customer accounts 833,742 451,888 6,475,674 Items in the course of transmission 9,533 7,022 to other banks 9,532 5,166 74,035 162,459 174,365 Trading liabilities 228,116 123,639 1,771,777 Financial liabilities designated at 58,420 61,829 fair value 64,354 34,880 499,838 62,101 74,036 Derivatives 103,660 56,184 805,127 184,483 188,072 Debt securities in issue 209,309 113,445 1,625,703 5,727 4,869 Retirement benefit liabilities 3,722 2,017 28,909 26,169 26,515 Other liabilities 31,669 17,165 245,969 Liabilities under insurance 12,428 14,144 contracts issued 15,663 8,489 121,655 10,421 12,689 Accruals and deferred income 12,584 6,821 97,740 3,329 1,966 Provisions 2,286 1,239 17,755 15,652 16,537 Subordinated liabilities 20,404 11,059 158,478 1,375,129 1,403,744 Total liabilities 1,630,768 883,876 12,666,175 Equity 5,610 5,667 Called up share capital 5,741 3,112 44,590 4,952 6,896 Share premium account 7,236 3,922 56,202 25,000 23,646 Other reserves 26,394 14,306 205,002 51,151 56,223 Retained earnings 62,010 33,609 481,632 86,713 92,432 Total shareholders' equity 101,381 54,949 787,426 4,968 5,794 Minority interests 5,989 3,246 46,517 91,681 98,226 Total equity 107,370 58,195 833,943 1,466,810 1,501,970 Total equity and liabilities 1,738,138 942,071 13,500,118 Consolidated Statement of Recognised Income and Expense 30Jun05 31Dec05 Half-year to 30Jun06 US$m US$m US$m Available-for-sale investments: 70 (470) - Fair value changes taken to equity (476) - Fair value changes transferred to income statement (103) (137) on disposal or impairment (319) Cash flow hedges: (293) 201 - Fair value changes taken to equity 147 - (106) - Fair value changes transferred to income statement (177) Share of changes in equity of associates and joint 68 93 ventures (44) (3,665) (592) Exchange differences 3,203 Actuarial gains/(losses) on post-employment 358 (1,170) benefits 1,477 (3,565) (2,181) 3,811 (125) 562 Net deferred tax on items taken directly to equity (196) Total income and expense taken to equity during the (3,690) (1,619) period 3,615 7,982 7,891 Profit for the period 9,245 4,292 6,272 Total recognised income and expense for the period 12,860 - Attributable to shareholders of the parent 4,056 5,856 company 12,292 236 416 - Attributable to minority interests 568 4,292 6,272 12,860 Consolidated Cash Flow Statement Half-year Half-year Half-year to to to 30Jun06 30Jun05 31Dec05 US$m US$m US$m Cash flows from operating activitiesProfit before tax 12,517 10,640 10,326Adjustments for:Non-cash items included in profit before tax 762 1,022 336Change in operating assets (101,775) (61,792) (20,918)Change in operating liabilities 135,226 57,777 13,156Elimination of exchange differences (7,000) 7,089 (4,774)Net gain from investing activities (752) (354) (338)Share of profits in associates and joint ventures (361) (308) (336)Dividends received from associates 32 57 57Tax paid (1,983) (1,811) (2,808)Net cash from/(used in) operating activities 36,666 12,320 (5,299) Cash flows from investing activitiesPurchase of financial investments (181,454) (91,507) (286,596)Proceeds from the sale of financial investments 177,762 82,562 286,134Purchase of property, plant and equipment (803) (1,227) (1,660)Proceeds from the sale of property, plant and equipment 915 340 280Purchase of intangible assets (352) (90) (759)Net cash outflow from acquisition of and increase in stake of subsidiaries (5) - (1,662)Net cash inflow from disposal of subsidiaries 23 566 139Net cash outflow from acquisition of and increase in stake of associates (208) (682) (1,887)Proceeds from disposal of associates 319 161 261Net cash used in investing activities (3,803) (9,877) (5,750) Cash flows from financing activitiesIssue of ordinary share capital 414 94 596Issue of preference shares 374 - 1,298Net purchases and sales of own shares for market-making purposes (78) 27 (82)Purchases of own shares to meet share awards and share option awards (589) (288) (478)Own shares released on vesting of share awards and exercise of options 137 65 212Subordinated loan capital issued 3,716 1,928 165Subordinated loan capital repaid (273) (896) (225)Dividends paid to the shareholders of the parent company (3,202) (4,197) (1,738)Dividends paid to minority interests (533) (419) (89) Net cash used in financing activities (34) (3,686) (341)Net increase/(decrease) in cash and cash equivalents 32,829 (1,243) (11,390)Cash and cash equivalents at the beginning of the period 141,307 160,956 152,925Exchange differences in respect of cash and cash equivalents 4,490 (6,788) (228)Cash and cash equivalents at the end of the period 178,626 152,925 141,307 This information is provided by RNS The company news service from the London Stock Exchange