26 Aug 2015 16:26
Latin America
Total Latin America | Brazil | Other Latin America |
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$m | $m | $m |
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Half year to 30 June 2015 |
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Net interest income | 2,249 | 1,214 | 1,035 |
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Net fee income | 605 | 307 | 298 |
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Net trading income | 402 | 242 | 160 |
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Other income | 302 | 279 | 23 |
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Net operating income15 | 3,558 | 2,042 | 1,516 |
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LICs | (721) | (498) | (223) |
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Net operating income | 2,837 | 1,544 | 1,293 |
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Total operating expenses | (2,405) | (1,353) | (1,052) |
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Operating profit | 432 | 191 | 241 |
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Income from associates | − | − | − | |||||
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Profit before tax | 432 | 191 | 241 |
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Loans and advances to customers (net) | 18,347 | − | 18,347 |
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- reported in held for sale | 20,827 | 20,827 | − |
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Customer accounts | 24,127 | − | 24,127 |
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- reported in held for sale | 19,432 | 19,432 | − |
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RoRWA | 1.0% | 0.8% | 1.3% |
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Cost efficiency ratio | 67.6% | 66.3% | 69.4% |
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Period-end staff numbers | 40,787 | 19,641 | 21,146 |
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Half-year to 30 June 2014 |
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Net interest income | 2,700 | 1,572 | 1,128 |
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Net fee income | 697 | 365 | 332 |
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Net trading income | 543 | 246 | 297 |
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Other income | 325 | 290 | 35 |
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Net operating income15 | 4,265 | 2,473 | 1,792 |
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LICs | (998) | (684) | (314) |
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Net operating income | 3,267 | 1,789 | 1,478 |
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Total operating expenses | (2,893) | (1,734) | (1,159) |
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Operating profit | 374 | 55 | 319 |
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Income from associates | - | - | - |
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Profit before tax | 374 | 55 | 319 |
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Loans and advances to customers (net) | 46,654 | 27,515 | 19,139 |
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Customer accounts | 53,852 | 27,068 | 26,784 |
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Cost efficiency ratio | 67.8% | 70.1% | 64.7% |
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RoRWA | 0.8% | 0.2% | 1.6% |
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Period-end staff numbers | 42,157 | 19,881 | 22,276 |
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Half-year to 31 December 2014 |
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Net interest income | 2,610 | 1,468 | 1,142 |
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Net fee income | 718 | 376 | 342 |
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Net trading income | 313 | 206 | 107 |
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Other income | 366 | 296 | 70 |
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Net operating income15 | 4,007 | 2,346 | 1,661 |
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LICs | (1,126) | (815) | (311) |
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Net operating income | 2,881 | 1,531 | 1,350 |
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Total operating expenses | (3,039) | (1,833) | (1,206) |
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Operating profit/(loss) | (158) | (302) | 144 |
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Income from associates | - | - | - |
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Profit/(loss) before tax | (158) | (302) | 144 |
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Loans and advances to customers (net) | 43,122 | 23,749 | 19,373 |
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Customer accounts | 48,588 | 23,204 | 25,384 |
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RoRWA | (0.3)% | (1.1)% | 0.7% |
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Cost efficiency ratio | 75.8% | 78.1% | 72.6% |
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Period-end staff numbers | 41,201 | 19,564 | 21,637 |
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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)
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Revenue ($m)
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Operating expenses ($m)
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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.