2010 Quarterly Comparatives

RNS Number : 9502F

HSBC Holdings PLC

04 May 2011

 



4 May 2011

HSBC HOLDINGS PLC - 2010 QUARTERLY COMPARATIVES

HSBC Holdings plc (HSBC) intends to modify the content of its Interim Management Statements by providing more detailed quarterly disclosures. The new format will be adopted for HSBC's first Interim Management Statement in 2011. Ahead of issuing the Interim Management Statement on Monday 9 May 2011, HSBC is releasing unaudited consolidated summary income statements for each of the calendar quarters of 2010.

The four periods of selected financial information presented below are not financial statements within the meaning of the Companies Act 2006 and are unaudited.

The Interim Management Statements will also contain summary balance sheet data, information about the Group's capital ratios, and information on gross loans and advances to customers by industry sector and by geographical region.

The financial statements for the full year ended 31 December 2010 have been presented within our Annual Report and Accounts 2010 published on 28 February 2011 and are available on our website at www.hsbc.com.

HSBC will be conducting a conference call with analysts and investors on 9 May 2011 following the issue of the Interim Management Statement. The call is being hosted by Stuart Gulliver, Group Chief Executive, and Iain Mackay, Group Finance Director, and will take place at 12.00 BST. Details for participating in the call can be found at Investor Relations on www.hsbc.com.

Summary income statements

	Quarter ended
	31 December                2010		30 September                2010		30 June                2010		31 March                2010
	US$m		US$m		US$m		US$m
Net interest income ...........................................	9,932		9,752		9,734		10,023
Net fee income ..................................................	4,571		4,266		4,106		4,412
Net trading income ............................................	2,259		1,399		679		2,873
Changes in fair value of long- term debt issued and related derivatives ....................................	(509)		(874)		1,709		(584)
Net income/(expense) from other financial instruments designated at fair value ................	592		926		(329)		289
Net income/(expense) from financial instruments designated at fair value ...................................	83		52		1,380		(295)
Gains less losses from financial investments .......	126		285		215		342
Dividend income ................................................	21		32		39		20
Net earned insurance premiums ..........................	2,831		2,649		2,744		2,922
Other operating income .....................................	786		298		779		699
Total operating income ..................................	20,609		18,733		19,676		20,996
Net insurance claims incurred and movement in liabilities to policyholders .............................................	(3,287)		(3,359)		(2,051)		(3,070)
Net operating income before loan impairment charges and other credit risk provisions ................	17,322		15,374		17,625		17,926
Loan impairment charges and other credit risk provisions ......................................................	(3,370)		(3,146)		(3,736)		(3,787)
Net operating income .....................................	13,952		12,228		13,889		14,139
Total operating expenses ...................................	(10,199)		(9,378)		(9,213)		(8,898)
Operating profit .............................................	3,753		2,850		4,676		5,241
Share of profit in associates and joint ventures ...	655		675		716		471
Profit before tax ..............................................	4,408		3,525		5,392		5,712
Tax expense ......................................................	(892)		(98)		(1,043)		(2,813)
Profit for the period .......................................	3,516		3,427		4,349		2,899
Profit attributable to shareholders of the parent company ........................................................	3,242		3,154		4,132		2,631
Profit attributable to non-controlling interests ...	274		273		217		268
	%		%		%		%
Return on average ordinary shareholders' equity (annualised)	8.8		9.0		12.8		8.3
Cost efficiency ratio ..........................................	58.9		61.0		52.3		49.6
	US$m		US$m		US$m		US$m
Profit/(loss) before tax by region
Europe ...............................................................	374		407		1,664		1,857
Hong Kong ........................................................	1,408		1,407		1,368		1,509
Rest of Asia-Pacific ...........................................	1,523		1,394		1,683		1,302
Middle East ........................................................	251		295		171		175
North America ...................................................	410		(448)		42		450
Latin America ....................................................	442		470		464		419
	4,408		3,525		5,392		5,712

 For further information, please contact:

Media relations	Investor relations
Robert Bailhache	Alastair Brown
[phone]	[phone]
Patrick Humphris	Robert Quinlan
[phone]	[phone]

Note to editors:

HSBC Holdings plc

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,455bn at 31 December 2010, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'.

 

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