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緊密聯繫客戶助握無限商機滙豐控股有限公司 2011年報及賬目滙豐控股有限公司 8 Canada Square London E14 5HQ United Kingdom 電話 44 020 7991 8888 www.hsbc.com 滙豐控股有限公司 2011年報及賬目

2011 2006 2011 2 255 256 274 20102009 20-F www.hsbc.com www.sec.gov IASB IFRS IFRS IFRS IASB IFRS 2011 12 31 2011 12 31 IFRS IFRSIASB IFRS IASB IFRS 2011 12 31 IFRS 16 17........................... 2....................... 4............ 7........................... 10..................... 10........................... 11................................ 12......................... 13.................. 13 1........................... 16 1........................... 43......................... 44 1............................... 59........................... 94 1............................... 98................................ 211 1....................... 218.............. 218............................. 225.................. 230........................... 240....................... 243................................ 243 1....................... 256..................... 275..................... 276 1............................ 278....................... 291 1....................... 414.......... 422................................ 423................................ 432 1

15% 219 6% 177 12% 7931% 9 2011 730.412010 14% 201010.5%10.1% 2.5 1

0.92 26% 20100.73 20090.34 1 0.39 20100.34 20090.34 8.48 7% 20107.94 20097.17 218.72 15% 2010190.37 200970.79 176.96 6% 2010189.25 834.61 4% 2010800.14 2009786.31 722.80 6% 2010682.47 2009661.81 162.24 27% 2010127.46 200955.65 9,400 2% 20109,580 20098,960 12,540 2% 201012,280 200911,590 75.0% 201078.1% 200977.3% 1,660 7% 20101,550 20091,360 5.6% 20105.5% 20094.7% 12,100 10% 201011,030 200911,330 10.1% 201010.5% 20099.4% 11.5% 201012.1% 200910.8% 14.1% 201015.2% 200913.7% 2

13.8% 201016.9% 200931.7% 2 10.2% 20108.7% 20094.1% 4 57.5% 201055.2% 200952.0% 0.50 178.68 2010176.86 2009174.08 1.2% 20101.5% 20092.8% 3 10.9% 20109.5% 20095.1% 48.7% 201049.3% 200951.8% 1,360 20101,800 20091,990 4.91 0.6% 20106.51 20097.09 20100.6% 20090.3% 20.6% 201021.7% 200922.5% 42.3% 201043.0% 105 59.00 201079.70 200989.40 6 1.9% 20101.7% 20090.6% 7.8% 20109.0% 200912.5% 5 2011 12 31... 79.1 96.8 78.2 100 7... 97.8 140.3 107.9 7... 95.7 129.4 114.9 7... 82.7 107.5 60.5 95 38.10 201051.04 200957.09 3

4 2011 2011 2011 2011 26% 0.92 0.14 20110.41 0.05 14% 2012 0.092011 201173 272 2011 10 30% 2000 4% 18% 1997 2011 12 19% 6%9% 2011

5 100(FTSE100) 2011 10 47 30052% 20111,590 20071,280 24% 9% 2011 10.1% 25 5.7 3.4 0.03 2011 9 12 3 4 22 2002 92006

(Joachim Faber) (John Lipsky) 3 1 2011 2011 11 5 Brand Finance 2012500 2011 NHFA 2012 2012 2 27 6

2011 16 2012 9 40 2011 2012 219 2010 2839 2010 6,300 177 2010 12 12% 6% 13% 2010 50 5 40 3 7

10% 11 8.98 5.7 5.87 9 55.2% 57.5% 55.6% 61% 2011201024 22 2010 9.5% 10.9% 2011 1.9% 1.5% 2011 2.2%2010 2.3% 2011 73 0.4114% 20110.14 2011 12 31 10.1% 2010 12 31 10.5% 2.5 27% 162 73 2011 34 5 2013 12% 15% 48% 52% 2011 16 2012 500 12,000 2012 9 8

9 2013 (25 35 2012 8,900 85 7,200 NHFA Limited 2012 2011 40 10 2011 10.9%20109.5% 2012 2013 12% 15% 1 2012 2 27

2011 12 31 1,360 85 7,200 1% 201116 20123 195 379 10

10 35 2050 30 19 12% 15% 2013 2535 (i)(ii) (iii) (iv) 11

12% 15%9.5% 10.5% 48% 52% 12

2011 99 2011 98 210 234 2012 ( ) 12% 15% 2012 13

15.9 3 8 9 10.9 9.5 4.7 5.1 '07 '08 '09 '10 '11 12% 15% 20101.4 10.5 10.1 9.4 8.1 7.0 '07 '08 '09 '10 '11 10.1% 2.5 105.0 103.0 99.8 2009 2010 2011 55.5 70.3 75.0 101.0 98.3 85.7 85.9 89.1 86.4 HBEU HBAP HBUS Other entities HBAP 2011 61% 60.1 57.5 55.2 52.0 49.4 '07 '08 '09 '10 '11 48% 52% 75 67 63 63 60 77 71 64 74 68 65 72 72 69 67 '07 '08 '09 '10 '11 201172% 2011 14

/ 2011 2% 13 (8) (30) 37 11 '07 '08 '09 '10 '11 2011 75% 75% 35% 1.4 0.4 0.3 0.7 0.9 '07 '08 '09 '10 '11 2011 2011 79% CRI 75% 35% 44% 2 46 77% 254 11 (29) 6 (47) '07 '08 '09 '10 '11 14 14% 285 274 276 2009 2010 2011 2012 2011 Brand Finance Brand Finance 2008 9 2009 95 15

.................... 16.......................... 18........ 20........................ 20...................... 22...................... 23.................. 24............ 25.................... 26...................... 26.................. 27........................ 27.......................... 29............ 31.......................... 31...................... 32 2011...................... 33.................... 37.................... 37........................ 38 IFRS IFRS 2010 2010 2011 2010 12 31 2011 12 31 2011 2010 20 F www.hsbc.com 2011 2010 1Bao Viet Holdings BaoViet 6,200 2010 3 6,600 2010 4 1.07 2010 52011 6 1.88 1.81 2010 10 British Arab Commercial Bank plc 4,200 2010 11 7,400 16 2010 12Eversholt Rail Group 2.55

2011 8HSBC Afore S.A. de C.V. HSBC Afore 8,300 2011 7 2011 2010 2010 2010 2010 2011 2011 2011 2011 10 11 12 10 13 13 % %................. 39,441 48 781 40,270 40,662 40,662 3 1............... 17,355 (55) 349 17,649 17,160 17,160 (1) (3) 14................ (63) 63 3,933 (3,933) 15.................. 11,514 (847) 284 10,951 10,525 (291) 10,234 (9) (7) 16.............. 68,247 (791) 1,414 68,870 72,280 (4,224) 68,056 6 (1)................. (14,039) (206) (14,245) (12,127) (12,127) 14 15............... 54,208 (791) 1,208 54,625 60,153 (4,224) 55,929 11 2................... (37,688) 220 (842) (38,310) (41,545) (41,545) (10) (8)................... 16,520 (571) 366 16,315 18,608 (4,224) 14,384 13 (12)........... 2,517 93 2,610 3,264 48 3,312 30 27................. 19,037 (571) 459 18,925 21,872 (4,176) 17,696 15 (6)....................... 4,302 (88) 167 4,381 4,671 (2,947) 1,724 9 (61)....................... 5,692 (130) (10) 5,552 5,823 5,823 2 5............... 5,902 (187) 227 5,942 7,471 (135) 7,336 27 23................. 892 42 (10) 924 1,492 (41) 1,451 67 57..................... 454 (208) 39 285 100 (970) (870) (78)................... 1,795 46 1,841 2,315 (83) 2,232 29 21................. 19,037 (571) 459 18,925 21,872 (4,176) 17,696 15 (6) 17........ 3,839 (3) 126 3,962 4,270 (83) 4,187 11 6................... 6,090 (119) 126 6,097 7,947 7,947 30 30 17........ 9,215 (262) 198 9,151 7,049 7,049 (24) (23)............... 1,054 6 1,060 944 944 (10) (11)....................... (1,161) (187) 3 (1,345) 1,662 (4,093) (2,431) (81)................. 19,037 (571) 459 18,925 21,872 (4,176) 17,696 15 (6) 95 www.hsbc.com 4,800 2011 12HSBC Saudi Arabia Limited SABB Securities Limited 2,700 17

2011 2010 2009 2008 2007............................... 40,662 39,441 40,730 42,563 37,795............................. 17,160 17,355 17,664 20,024 22,002............................. 6,506 7,210 9,863 6,560 9,834......................... 3,439 1,220 (3,531) 3,852 4,083................... 907 968 520 197 1,956................................. 149 112 126 272 324........................... 12,872 11,146 10,471 10,850 9,076..................... 2,445............................. 1,766 2,562 2,788 1,808 2,531......... 208 188 1,092................................... 1,558 2,374 2,788 1,808 1,439............................. 83,461 80,014 78,631 88,571 87,601..... (11,181) (11,767) (12,450) (6,889) (8,608)........................... 72,280 68,247 66,181 81,682 78,993............... (12,127) (14,039) (26,488) (24,937) (17,242)............................. 60,153 54,208 39,693 56,745 61,751 19............................ (41,545) (37,688) (34,395) (49,099) (39,042)................................. 18,608 16,520 5,298 7,646 22,709................... 3,264 2,517 1,781 1,661 1,503............................... 21,872 19,037 7,079 9,307 24,212................................. (3,928) (4,846) (385) (2,809) (3,757)............................... 17,944 14,191 6,694 6,498 20,455....................... 16,797 13,159 5,834 5,728 19,133....................... 1,147 1,032 860 770 1,322 20............................ 0.92 0.73 0.34 0.41 1.44 20.......................... 0.91 0.72 0.34 0.41 1.42 19, 20.......... 0.92 0.73 0.34 1.19 1.44 1.......................... 0.39 0.34 0.34 0.93 0.87 % % % % % 21............................... 42.4 46.6 100.0 226.8 60.4 19........................ 42.4 46.6 100.0 78.2 60.4................... 0.65 0.57 0.27 0.26 0.97................... 10.9 9.5 5.1 4.7 15.9 1.............................. 0.624 0.648 0.641 0.545 0.500 1.............................. 0.719 0.755 0.719 0.684 0.731 95 2011 219 2010 28 39 2010 6,300 2010 6% 18

19 2011201024 22 16 2010 2011 23 20112010 2010 2011 2010 11 5.7 8.98 2.57 2011 7,6009 5.87 38 26% 2011 2010 12 201118%2010 25.5%

2011 2010 2009.............................................................. 63,005 58,345 62,096.............................................................. (22,343) (18,904) (21,366) 22........................................................... 40,662 39,441 40,730........................................................ 1,622,658 1,472,294 1,384,705 23............................................................. 3.88% 3.96% 4.48%.......................................................... (1.56%) (1.41%) (1.58%) 24............................................................... 2.32% 2.55% 2.90% 25........................................................ 2.51% 2.68% 2.94% 2011 2010 2009 % % %.......................... 261,749 5,860 2.24 236,742 4,555 1.92 192,578 4,199 2.18.................................... 945,288 45,250 4.79 858,499 44,186 5.15 870,057 48,301 5.55.................................... 384,059 10,229 2.66 378,971 9,375 2.47 322,880 9,425 2.92 26............................... 31,562 1,666 5.28 (1,918) 229 (11.94) (810) 171 (21.11)................................ 1,622,658 63,005 3.88 1,472,294 58,345 3.96 1,384,705 62,096 4.48 27, 28..................... 410,038 8,671 2.11 385,203 7,060 1.83 419,647 8,646 2.06.................................... (18,738) (22,905) (26,308).................................. 752,965 664,308 667,942...................... 2,766,923 71,676 2.59 2,498,900 65,405 2.62 2,445,986 70,742 2.89 2011 2010 2009 % % % 29................................... 106,099 1,591 1.50 111,443 1,136 1.02 117,847 1,659 1.41.................. 30....................... 73,635 1,313 1.78 66,706 1,271 1.91 60,221 1,558 2.59 31................................... 1,058,326 13,456 1.27 962,613 10,778 1.12 940,918 11,346 1.21.............................. 181,482 5,260 2.90 189,898 4,931 2.60 225,657 5,901 2.62................................ 14,024 723 5.16 8,730 788 9.03 8,640 902 10.44................................ 1,433,566 22,343 1.56 1,339,390 18,904 1.41 1,353,283 21,366 1.58.................. 355,345 4,564 1.28 275,804 3,780 1.37 221,358 4,280 1.93.............................. 162,369 142,579 123,271............ 815,643 741,127 748,074...................... 2,766,923 26,907 0.97 2,498,900 22,684 0.91 2,445,986 25,646 1.05 95 407 2010 3% 2011 20102011 20

21 195 2010

2011 2010 2009........................................................ 3,955 3,801 4,625.................................................. 3,670 3,632 3,592.................................................. 2,753 2,511 2,172...................................................... 1,749 1,635 1,479.............................................. 1,711 1,789 1,617.................................................... 1,103 991 897...................................................... 1,052 1,147 1,421...................................................... 770 680 613.................................................. 751 700 988.............................................. 657 560 363...................................................... 578 623 746.................................................. 441 440 396.................................................. 294 291 278.................................................. 136 109 97.............................................. 109 118 124............................................ 2 73 87............................................ 99 111...................................................... 1,766 1,918 1,797.................................................. 21,497 21,117 21,403.............................................. (4,337) (3,762) (3,739).............................................. 17,160 17,355 17,664 2010 2010 Eversholt Rail Group 3% 2010 2011 22

2011 2010 2009.................................................. 4,873 5,708 5,312...................................... 3,223 2,530 3,627............................................ 26 (9) 90............................................ (224) 38 (45).............................................. (1,392) (1,057) 951 Bernard L Madoff Investment Securities LLC....... (72) 32, 33........................................... 6,506 7,210 9,863 95 2010 10% 65 15% 2011 Solitaire Funding Limited 2010 8,900 20104.58 20102,300 2010 3.419,200 2011 2010 23

2010 23% 2011 2010 2009...................................... (933) 2,349 3,793.............................. 231 (946) (1,329)...................... 4,161 (258) (6,247).......................... 3,933 (63) (6,533) 34................................... 228 (195) 286.............. (20) 75 252.................. 3,439 1,220 (3,531) 2011 2010 2009 12 31..................... 30,856 37,011 37,181 12 31..................... 85,724 88,133 80,092 DPF 35............................ 7,221 7,167 6,097...................... 20,033 19,725 16,982............................ 73,808 69,906 62,641 95 2i 2b 2011 34 2010 12 2011 39 20106,300 24

2011 2010 20114.94 201013 2011 2011 2010 2010 2011 2010 2009.............................................. 712 564 463.............................................. 360 516 407.......................................... 12 (7) 8 1,084 1,073 878...................................... (177) (105) (358).................................... 907 968 520 6,1009.07 2010Bao Viet 6,200 4% 2010 2011 2011 25

2011 2010 2009.............................................. 13,338 11,609 10,991................................................ (466) (463) (520)............................................ 12,872 11,146 10,471 15% 13% 2011 2011 2010 2009.................................................. 217 535 547........................ 55 (263) (115)................................ 118 93 (24)........ 57 701 1,033............................ 208 188.................................. 726 705 605...................................................... 385 603 742.............................................. 1,766 2,562 2,788 2011 187.962011 1.81 HSBC Afore8,300 HSBC Saudi Arabia Limited SABB Securities Limited 2,7002010 1.88 1.07 6,600 Eversholt Rail Group 2.55 7,400 British Arab Commercial Bank plc. 4,200 2010 7,100 2010 2.07 2010 2.502011 6,100 2010 PVIF PVIF 26

2.43 2011 2010 2009.................................................. 11,631 11,969 12,560........................................ (450) (202) (110) 36................................................. 11,181 11,767 12,450 95 5% 7% 2011 2011 2010 2009.............................. 12,931 14,568 25,832.......................................... (1,426) (1,020) (890) 11,505 13,548 24,942.............................................. 1,915 2,625 4,458.............................................. 9,590 10,923 20,484...................................... 631 472 1,474.................................. (9) 19 72................................ 12,127 14,039 26,488 % % %................................................ 17.7 20.6 36.4.............. 1.2 1.5 2.8 121 2010 14% 15% 2011 12 31 175 1.9% 2010 12 31 2.2% 27

2011 66% 2011 6.31 2010 4.72 2011 2.12 50 2010 14% 2011 2011 2011 26% 16 2011 20102011 20% 25 53% 5.96 7% 8% 1.45 112 53% 2.93 2010 45% 28

42% 2.67 58% 17% 19 43% 14 2011 28% 36% 1.56 2011 2010 2009............................................ 21,166 19,836 18,468.............................. 4,503 4,348 4,099............................................ 12,956 10,808 9,293.................................................. 38,625 34,992 31,860................................ 1,570 1,713 1,725........................................ 1,350 983 810.................................................. 41,545 37,688 34,395................................ 1,122 154 301.......................................... 898 78.............................................. 570.................................................... (13) 324................................ 257............................................ (587) (499)................................ (148)................................ 163 12 31 2011 2010 2009...................................................... 74,892 75,698 76,703...................................................... 28,984 29,171 27,614.............................................. 91,051 91,607 87,141................................................ 8,373 8,676 8,281.................................................... 30,981 33,865 35,458.................................................. 54,035 56,044 54,288.................................................. 288,316 295,061 289,485 10% 415 2010 8% 2011 29

2010 2011 1.63 95 2010 11 5.42 3.25 2011 2011 9 2535 2011 7,600 4 2011 2010 2009 % % %...................................................... 57.5 55.2 52.0...................................................... 70.4 67.9 59.4...................................................... 44.5 43.4 41.7.............................................. 54.2 55.7 55.6................................................ 44.5 44.7 38.6.................................................... 55.7 48.8 51.5.................................................. 63.3 65.7 59.6 17....................................... 63.2 58.1 52.3.................................................. 46.3 49.4 46.4 17....................................... 57.0 48.8 37.5.............................................. 68.8 65.8 60.5 95 30

2011 2010 2009.................................... 1,370 987 754.............................. 946 848 551.................................... 471 327 216............................................ 308 161 172.................................................... 126 156 42.......................................... 3,221 2,479 1,735.......................................... 43 38 46.................................... 3,264 2,517 1,781 33 2010 30% 27% 2011 7 2011 2010 2009................................................ 21,872 19,037 7,079.................................................. (3,928) (4,846) (385)................................................ 17,944 14,191 6,694.................................................. 18.0% 25.5% 5.4% 2010 9 9 2010 12 2011 18%2010 25.5% 31

12 31 2011 2010 2009 2008 2007............. 129,902 57,383 60,655 52,396 21,765....................... 330,451 385,052 421,381 427,329 445,968......... 30,856 37,011 37,181 28,533 41,564........................... 346,379 260,757 250,886 494,876 187,854........................... 180,987 208,271 179,781 153,766 237,366 37.......................... 940,429 958,366 896,231 932,868 981,548........................... 400,044 400,755 369,158 300,235 283,000................... 39,558 1,991 3,118 2,075 2,804........................... 156,973 145,103 146,061 135,387 152,397........................... 2,555,579 2,454,689 2,364,452 2,527,465 2,354,266........................... 112,822 110,584 124,872 130,084 132,181........................... 1,253,925 1,227,725 1,159,034 1,115,327 1,096,140....................... 265,192 300,703 268,130 247,652 314,580......... 85,724 88,133 80,092 74,587 89,939........................... 345,380 258,665 247,646 487,060 183,393..................... 131,013 145,401 146,896 179,693 246,579....................... 61,259 58,609 53,707 43,683 42,606......... 22,200 86 3........................... 111,971 109,868 148,411 149,150 113,432........................... 2,389,486 2,299,774 2,228,791 2,427,236 2,218,850....................... 158,725 147,667 128,299 93,591 128,160..................... 7,368 7,248 7,362 6,638 7,256................... 166,093 154,915 135,661 100,229 135,416............. 2,555,579 2,454,689 2,364,452 2,527,465 2,354,266......................... 8,934 8,843 8,705 6,053 5,915 38, 39, 40...................... 170,334 167,555 155,729 131,460 152,640................. 2,779 2,781 2,785 2,843 2,922 41........ 49,438 54,421 52,126 50,307 49,472 38, 39....................... 1,209,514 1,103,113 1,133,168 1,147,974 1,123,782 % % % % %..................... 10.1 10.5 9.4 7.0 8.1......................... 14.1 15.2 13.7 11.4 13.6........... 75.0 78.1 77.3 83.6 89.5..... 5.64 5.53 4.72 4.87 5.69 42... 8.48 7.94 7.17 7.44 10.72 0.50..................... 17,868 17,686 17,408 12,105 11,829 1........................ 0.646 0.644 0.616 0.686 0.498 1........................ 0.773 0.748 0.694 0.717 0.679 95 281 32

33 2011 2.6 2010 12 31 4% 6% 352010 12 31 129% 13% 14% 35% 11% 2010 195 86 2011 2010 300 2010

34% 4% 4% 11% 2010 9% 7% 2011 24% 9% 2010 12 3141 2011 12 3134 34

2011 12 312010 12 31 2010 12 31 2010 2011 2011 12 31 12 31 12 31 43 % %......... 57,383 (590) 56,793 73,109 129,902 126 129................... 385,052 (3,834) 381,218 (50,767) 330,451 (14) (13)..... 37,011 (937) 36,074 (5,218) 30,856 (17) (14)................... 260,757 (3,765) 256,992 89,387 346,379 33 35....................... 208,271 (5,661) 202,610 (21,623) 180,987 (13) (11)....................... 958,366 (12,556) 945,810 (5,381) 940,429 (2) (1)....................... 400,755 (5,219) 395,536 4,508 400,044 1....................... 147,094 (439) 146,655 49,876 196,531 34 34....................... 2,454,689 (33,001) 2,421,688 133,891 2,555,579 4 6....................... 110,584 (1,837) 108,747 4,075 112,822 2 4....................... 1,227,725 (17,065) 1,210,660 43,265 1,253,925 2 4................... 300,703 (2,785) 297,918 (32,726) 265,192 (12) (11)..... 88,133 (449) 87,684 (1,960) 85,724 (3) (2)................... 258,665 (3,710) 254,955 90,425 345,380 34 35................. 145,401 (1,456) 143,945 (12,932) 131,013 (10) (9)................... 58,609 (1,501) 57,108 4,151 61,259 5 7....................... 109,954 (1,906) 108,048 26,123 134,171 22 24....................... 2,299,774 (30,709) 2,269,065 120,421 2,389,486 4 5................... 147,667 (2,263) 145,404 13,321 158,725 7 9................. 7,248 (29) 7,219 149 7,368 2 2............... 154,915 (2,292) 152,623 13,470 166,093 7 9......... 2,454,689 (33,001) 2,421,688 133,891 2,555,579 4 6 95 2011 35

12 31 2011 2010............................................................... 493,404 491,563............................................................... 361,181 351,522 44.............................................................. 55,278 65,407............................................................... 8,738 7,063............................................................. 5,695 5,968............................................................... 45,283 43,098............................................................. 6,809 6,602............................................................... 10,420 11,903............................................................... 315,345 297,484....................................................... 174,012 158,155............................................................... 18,802 16,640............................................................... 10,227 12,143............................................................... 6,490 5,572........................................................... 31,570 27,007........................................................... 16,970 15,257............................................................. 44,447 38,951............................................................... 11,659 12,131............................................................... 1,834 1,256............................................................... 32,013 29,198....................................... 36,422 33,511............................................................... 7,047 6,881............................................................. 2,796 3,069............................................................. 18,172 16,332............................................................... 8,407 7,229............................................................. 155,982 158,486............................................................... 97,542 103,007............................................................. 45,510 45,772............................................................. 12,930 9,707........................................................... 78,760 88,526............................................................. 4,878 3,983............................................................... 42,410 49,253............................................................. 21,772 21,295............................................................. 5,463 7,429............................................................... 4,237 6,566............................................................... 1,253,925 1,227,725 95 36

2011 11% 2010 2011 2010 % 45 % 45.................................. 156,129 138,224.......................... 8,123 8,123.................................... (914) (813).................. 287 100.................... 3,379 6,129............................ (7,256) (5,473) 46.................................... 159,748 146,290 47.................................... 16,224 10.2 12,746 8.7...................................... (17,572) (11.0) (16,092) (11.0)............................ (1,348) (0.8) (3,346) (2.3) 95 16 2011 1.5 10.2% 0.8 13 2010 12 31 20 23 88 2010 % %...................... 21,872 1,154 1.9 19,037 1,098 1.7...................... 17,696 1,154 1.5 18,925 1,108 1.7...................... (2,847) 222 (1.3) (1,871) 215 (0.9).................. (436) 33 (1.3) 226 23 1.0............ (2,411) 189 (1.3) (2,097) 192 (1.1)...... 20,543 932 2.2 20,796 893 2.3 37

38 2 2g 9,58020109,780 1702% 2010160 2%9,410 98% 20109,62098% 70 62% 20109064% 2g 2011

39 IFRS 129 10%2011 12 317 20109 2p24 CGU 2011 12 31 210 2010220 2011 2010 2011 7 1 2011 12 31 2011 24

2d 16 6,6502010 5,990 5,690 2010 4,990 61% 2010 56%82% 201077% 16 2j 2011 12 31 3,79020103,810 3,72098% 20103,730 98% 492010 62 40

41 ABS 149 2s 52 68% 20104058%

42 195 2w 33 332010 21 15201010 11 20104 44 2011

............................ 43...................... 44.............. 46........................ 48.............. 51.................... 54............................ 55.................. 57 59 2011 3 1 2011 2010 2009 % % % 17.................. 4,270 19.6 3,839 20.2 (1,846) (26.1)............................. 7,947 36.3 6,090 32.0 4,275 60.4 17.................. 7,049 32.2 9,215 48.4 10,262 145......................... 944 4.3 1,054 5.5 1,108 15.6 48................................ 1,662 7.6 (1,161) (6.1) (6,720) (94.9) 49 21,872 100.0 19,037 100.0 7,079 100.0 12 31 2011 2010 % % 17....................................... 540,548 21.2 530,970 21.6.................................................. 334,966 13.1 296,797 12.1 17....................................... 1,877,627 73.5 1,755,043 71.5.............................................. 119,839 4.7 116,846 4.8...................................................... 180,126 7.0 161,458 6.6.............................................. (497,527) (19.5) (406,425) (16.6) 50 2,555,579 100.0 2,454,689 100.0 12 31 2011 2010 % %...................................................... 1,209.5 1,103.1 17....................................... 351.2 29.0 357.0 32.4.................................................. 382.9 31.7 334.4 30.3 17, 51..................................... 423.0 35.0 353.2 32.0.............................................. 22.5 1.9 24.9 2.3...................................................... 29.9 2.4 33.6 3.0 95 20102009 3.212.19 2010 2009 3328 16 43

SME / 44

60 45

2011 2010 2009... 24,101 24,166 25,099... 8,226 8,397 9,138... 1,206 1,048 2,060 52... 33,533 33,611 36,297 53... (9,319) (11,259) (19,902)... 24,214 22,352 16,395... (21,202) (19,539) (18,976)... 3,012 2,813 (2,581) 54... 1,258 1,026 735... 4,270 3,839 (1,846) 55... 1.2% 1.1% (0.5%) 89 2011 AAA 95 43 2010 11% 6% / 2011 2010 2009... 2,061 1,979 498... (4,472) (4,076) (5,065)... 6,681 5,936 2,721 4,270 3,839 (1,846) 2010 9% 8%3% 3,600 / 46

18% 93 6.50 6% 212 8.75 2.64 2011 2.57 17% 2011 7 402011 3 PVIF 2011 201047% 62% 2011 12 2010 12 3172 2011 12 3186 2011 2011 Get Rate 2011 11 2012 47

2011 2011 16 75% 35% 77% 2011 HSBC Afore 65360 2011 2010 2009... 9,931 8,487 7,883... 4,291 3,964 3,702... 1,389 1,383 1,268 52... 15,611 13,834 12,853 53... (1,738) (1,805) (3,282)... 13,873 12,029 9,571... (7,221) (6,831) (5,963)... 6,652 5,198 3,608 54... 1,295 892 667... 7,947 6,090 4,275 55... 2.2% 2.0% 1.4% 79 12% 4% (Oliver Wyman Global Transaction Banking Survey 2011) 95 48

2011 79 2010 31% 30% 90% 20 12% 2010 2011 12% 2,620 2011 9% 3,060 6% 4% 2.12 41% 20% 85 54% 50% 22% 2675% 2011 15% ClientSphere 49

2011 2010 12% 200 50 2010 5 2011 43% 27% 2011 340 54% 2012 2011 20112012 40200 2011 60 HSBCnet Mobile 20 iapp 50

2011 2010 2009................ 7,263 7,343 8,618.............. 3,227 3,664 3,463 56............. 5,204 5,830 6,867.................. 1,363 2,075 1,990 52............. 17,057 18,912 20,938 53................. (984) (990) (3,168).............. 16,073 17,922 17,770.............. (9,722) (9,228) (7,853).................. 6,351 8,694 9,917 54......... 698 521 345................ 7,049 9,215 10,262 55... 1.8% 2.5% 2.6% 2011 95 70 2010 24% 23% 10% 2011 23 2011 9.84 2010 6,200 2010 2010 1.45 20104.44 4.09 4% 2010 51

2011 2010 2009 57............. 8,098 9,173 10,364.................... 335 1,649 2,330.................... 1,341 2,052 2,648.................... 3,272 2,752 2,979.................... 961 755 641................ 1,673 1,511 1,420.......... 516 454 346.................. 5,401 4,621 4,630...... 3,233 2,852 3,070 58............... 1,534 1,133 1,053 59........... 634 636 507 60............. 3,488 4,102 5,390.................. 209 319 42 61..................... (139) 697 512.............. 17,057 18,912 20,938 95 2011 1.11 2010 81 20108.48 20111.65 2010 2010 4.58 2010 2,300 2011 2010 2010 32% 52

2010 Eversholt Rail Group 2011 6 Corporate Treasury Solutions Group 2010 2011 Get Rate 11 2011 43% 16% 2011 5 2011 Wealth Solutions Group Protected World Selection 53

2011 2010 2009................ 1,439 1,345 1,474.............. 1,382 1,299 1,236.................. 471 449 402 52............. 3,292 3,093 3,112 53.... (86) 12 (128).............. 3,206 3,105 2,984.............. (2,266) (2,035) (1,884).................. 940 1,070 1,100 54......... 4 (16) 8................ 944 1,054 1,108 55... 3.9% 4.1% 4.0% 130 20101302009 70 2011 9.44 2010 10% 11% 5% 130 62) 2011 2010 1 1............. 390 367.......... 13 13.............. (20) 13............ (6) (3) 12 31........... 377 390 63 2011 12 314,960 95 54

2011 63 49% 2011 4% 2011 2010 2009................ (911) (998) (1,035)...... (355) (311) 279.... 4,161 (258) (6,247).......... 78 42 (196)...... 4,239 (216) (6,443).................. 6,172 6,185 5,176 52.... 9,145 4,660 (2,023) 53.... 3 (8)...... 9,145 4,663 (2,031).............. (7,492) (5,918) (4,715).......... 1,653 (1,255) (6,746) 54......... 9 94 26........ 1,662 (1,161) (6,720) 95 55

17 201012 39 2010 6,300 2010 Bao Viet 6,200 20102011 1.88 1.81 4,800 HSBC Saudi Arabia Limited 2011 SABB Securities Limited HSBC Saudi Arabia Limited 2,700 1124 2010 61 2011 2010 3.04 2.76 2010 2011 3.04 2010 2010 2.5 26% 752011 5.7 2.17 56

2011 48 64............... 24,101 9,931 7,263 1,439 (911) (1,161) 40,662..................... 8,226 4,291 3,227 1,382 34 17,160............... (562) 565 3,306 415 (441) 3,283............. 43 19 1,898 16 86 1,161 3,223 56........... (519) 584 5,204 431 (355) 1,161 6,506........... 4,161 4,161......... (761) 33 (72) 78 (722)......... (761) 33 (72) 4,239 3,439........... 124 20 761 3 (1) 907......................... 27 15 75 7 25 149................... 10,882 1,956 47 (13) 12,872..................... 907 483 577 30 6,127 (6,358) 1,766..................... 42,987 17,313 17,082 3,292 9,145 (6,358) 83,461 65.................... (9,454) (1,702) (25) (11,181) 52.................... 33,533 15,611 17,057 3,292 9,145 (6,358) 72,280............... (9,319) (1,738) (984) (86) (12,127)..................... 24,214 13,873 16,073 3,206 9,145 (6,358) 60,153 66........................ (6,538) (2,184) (4,196) (1,351) (6,897) (21,166)..................... (14,664) (5,037) (5,526) (915) (595) 6,358 (20,379)..................... (21,202) (7,221) (9,722) (2,266) (7,492) 6,358 (41,545)......................... 3,012 6,652 6,351 940 1,653 18,608........... 1,258 1,295 698 4 9 3,264....................... 4,270 7,947 7,049 944 1,662 21,872 % % % % % %............... 19.6 36.3 32.2 4.3 7.6 100.0..................... 63.2 46.3 57.0 68.8 81.9 57.5 49................... 357,907 262,039 276,463 41,856 2,164 940,429......................... 540,548 334,966 1,877,627 119,839 180,126 (497,527) 2,555,579......................... 529,017 306,174 306,454 111,814 466 1,253,925 57

2010 17 17 48 64............... 24,166 8,487 7,343 1,345 (998) (902) 39,441..................... 8,397 3,964 3,664 1,299 31 17,355............... (106) 427 4,326 391 (358) 4,680............. 28 28 1,504 21 47 902 2,530 56........... (78) 455 5,830 412 (311) 902 7,210........... (258) (258)................. 1,210 190 36 42 1,478......... 1,210 190 36 (216) 1,220........... (24) (1) 863 (6) 136 968......................... 27 12 48 5 20 112................... 9,737 1,379 41 (11) 11,146..................... 684 585 1,113 38 6,005 (5,863) 2,562..................... 44,119 15,071 18,938 3,093 4,656 (5,863) 80,014 65.................... (10,508) (1,237) (26) 4 (11,767) 52.................... 33,611 13,834 18,912 3,093 4,660 (5,863) 68,247............... (11,259) (1,805) (990) 12 3 (14,039)..................... 22,352 12,029 17,922 3,105 4,663 (5,863) 54,208 66........................ (5,770) (2,153) (4,353) (1,237) (6,323) (19,836)..................... (13,769) (4,678) (4,875) (798) 405 5,863 (17,852)..................... (19,539) (6,831) (9,228) (2,035) (5,918) 5,863 (37,688)................. 2,813 5,198 8,694 1,070 (1,255) 16,520... 1,026 892 521 (16) 94 2,517............... 3,839 6,090 9,215 1,054 (1,161) 19,037 % % % % % %............... 20.2 32.0 48.4 5.5 (6.1) 100.0..................... 58.1 49.4 48.8 65.8 127.0 55.2 49................... 390,963 239,286 284,497 40,665 2,955 958,366......................... 530,970 296,797 1,755,043 116,846 161,458 (406,425) 2,454,689......................... 525,221 286,007 308,416 107,130 951 1,227,725 95 58

............................. 59............................. 60............................. 66.................... 71...................... 77........................... 82........................ 89 2011 16 42 34.21201031.25 200927.56 2011 2010 2009 % % %.......................... 4,671 21.3 4,302 22.6 4,009 56.7.......................... 5,823 26.6 5,692 29.9 5,029 71.0.................. 7,471 34.2 5,902 31.0 4,200 59.3.................... 1,492 6.8 892 4.7 455 6.4........................ 100 0.5 454 2.4 (7,738) (109.3)...................... 2,315 10.6 1,795 9.4 1,124 15.9 49 21,872 100.0 19,037 100.0 7,079 100.0 12 31 2011 2010 % %............................................ 1,281,945 50.3 1,249,527 50.9............................................ 473,024 18.5 429,565 17.5.................................... 317,816 12.4 278,062 11.3...................................... 57,464 2.2 52,757 2.1.......................................... 504,302 19.7 492,487 20.1........................................ 144,889 5.7 139,938 5.7.................................... (223,861) (8.8) (187,647) (7.6) 67 2,555,579 100.0 2,454,689 100.0 12 31 2011 2010 % %............................................ 1,209.5 1,103.1............................................ 340.2 27.8 301.6 27.2............................................ 105.7 8.6 106.9 9.7.................................... 279.3 22.8 217.5 19.6...................................... 58.9 4.8 54.1 4.9.......................................... 337.3 27.6 330.7 29.9........................................ 102.3 8.4 95.9 8.7 95 59

2011 2010 2009......... 11,001 11,250 12,268....... 6,236 6,371 6,267....... 2,161 2,863 5,459... 4,848 2,266 (450) 52..... 24,246 22,750 23,544 53......... (2,512) (3,020) (5,568)....... 21,734 19,730 17,976....... (17,069) (15,445) (13,988)........... 4,665 4,285 3,988 54.. 6 17 21......... 4,671 4,302 4,009....... 70.4% 67.9% 59.4% 55...... 1.5% 1.3% 1.2%....... 74,892 75,698 76,703 2011 53% 2010 2.1%2011 0.9% 12 8.4% 9 5.2%12 3.6% 0.5 2011 10 7501,200 2,7504,400 2011 2011 1.5% 3% 2011 12 5.5% 10.4% 2011 1 47 2010 9% 2011 29 2010 1.98 2010 Eversholt Rail Group 1.072.55 61% 95 60

17 17 2011............................... 1,330 1,227 (265) 192 1,037 3,521 44............................. 69 192 (194) 16 18 101............................... 36 69 203 28 16 352............................. 31 72 21 124............................... (8) 225 217............................. 7 62 87 2 158............................... (151) 73 225 94 (43) 198 1,322 1,687 77 557 1,028 4,671 2010............................... 1,181 827 1,772 223 (1,605) 2,398 44............................. 138 135 376 18 26 693............................... 36 32 231 30 4 333............................. 37 56 17 110............................... (5) 265 260............................. 64 80 105 1 250............................... (144) 80 202 103 17 258 1,312 1,205 2,703 640 (1,558) 4,302 2009............................... 331 1,026 3,078 252 (2,561) 2,126 44............................. 67 102 881 3 (429) 624............................... 34 21 221 32 (18) 290............................. 33 58 9 100............................... 5 448 (3) 450............................. 43 97 119 2 261............................... (183) (12) 219 117 17 158 95 2011 4.04 2011HSBC World Selection 21% 2538 2011 10 2011 2011 10% 53% 325 1,292 4,532 854 (2,994) 4,009 3.55.42 15% 5%4% 2011 61

2011 18 2011 101 6% 2010 2011 4% 33 2011 2010 3.91 2010 2,900 4.79 2011 2011 2010 62

63 2010 3% 15%2010 PVIF 2010 2011PVIF PVIF 28% 2011 2010 20% 25 1.45 4,600 9% 8.98 5.7 4.04 5.87 2010 3.543.24 2010 2011 3

2011 64................. 5,653 3,107 2,102 936 (574) (223) 11,001....................... 2,633 1,640 989 942 32 6,236................. 40 5 602 191 (201) 637............... 11 16 1,205 16 53 223 1,524 56............. 51 21 1,807 207 (148) 223 2,161............. 3,180 3,180........... (672) (21) (65) 46 (712)........... (672) (21) (65) 3,226 2,468............. 51 (1) 453 1 11 515........................... 1 1 42 4 1 49..................... 3,768 381 (13) 4,136....................... 95 58 187 5 760 74 1,179....................... 11,580 5,186 5,515 2,095 3,295 74 27,745 65..................... (3,212) (287) (3,499) 52..................... 8,368 4,899 5,515 2,095 3,295 74 24,246................. (596) (960) (876) (82) 2 (2,512)....................... 7,772 3,939 4,639 2,013 3,297 74 21,734....................... (6,450) (2,252) (4,569) (1,456) (2,268) (74) (17,069)........................... 1,322 1,687 70 557 1,029 4,665..... 7 (1) 6......................... 1,322 1,687 77 557 1,028 4,671 % % % % % %................. 6.0 7.7 0.4 2.5 4.7 21.3....................... 77.1 46.0 82.8 69.5 68.8 70.4 49.................... 150,205 98,154 156,903 28,378 696 434,336........................... 210,140 124,049 1,021,486 77,410 63,141 (214,281) 1,281,945........................... 176,134 104,530 154,208 58,265 267 493,404 64

2010 17 17 64................. 5,537 2,774 2,935 871 (654) (213) 11,250....................... 2,559 1,570 1,320 883 39 6,371................. (6) 3 1,541 185 (262) 1,461....... (1) 19 1,127 21 23 213 1,402 56............. (7) 22 2,668 206 (239) 213 2,863............. (365) (365)........... 496 113 (23) 61 647........... 496 113 (23) (304) 282............. (36) 525 (7) 4 486........................... 1 16 2 1 20..................... 3,800 278 (11) 4,067....................... 187 163 817 7 754 189 2,117.............. 12,536 4,921 8,258 1,962 (410) 189 27,456 65..................... (4,364) (342) (4,706) 52............. 8,172 4,579 8,258 1,962 (410) 189 22,750................. (1,217) (997) (783) (26) 3 (3,020).............. 6,955 3,582 7,475 1,936 (407) 189 19,730....................... (5,647) (2,378) (4,784) (1,296) (1,151) (189) (15,445)................... 1,308 1,204 2,691 640 (1,558) 4,285............. 4 1 12 17................. 1,312 1,205 2,703 640 (1,558) 4,302 % % % % % %................. 6.9 6.3 14.2 3.4 (8.2) 22.6....................... 69.1 51.9 57.9 66.1 (280.7) 67.9 49.................... 145,069 91,744 170,369 27,629 988 435,799........................... 205,032 111,356 962,861 76,631 65,824 (172,177) 1,249,527........................... 169,016 96,597 169,836 56,114 491,563 95 65

> 2011 2010 2009......... 4,691 4,246 4,195....... 3,097 2,962 2,669....... 1,189 1,312 1,225........... 1,705 1,682 1,378 52...... 10,682 10,202 9,467 53.......... (156) (114) (500)....... 10,526 10,088 8,967....... (4,758) (4,431) (3,946)........... 5,768 5,657 5,021 54............ 55 35 8......... 5,823 5,692 5,029....... 44.5% 43.4% 41.7% 55...... 5.3% 5.0% 4.2%....... 28,984 29,171 27,614 25% 2011 2011 20115% 2011 2011 2010 3.9% 3.2% 12 310.325 58 201057 2% 2010Bao Viet 5% 2011 20102011 2011 2011 95 66

2011 2010 2009................................. 3,022 3,001 2,789........................................... 1,608 1,352 956................................. 1,316 1,347 1,446....................................... 188 227 197............................................... (311) (235) (359) 9% 2011 2010 11% 20102011 2011 5,823 5,692 5,029 2011 49% 37% 5% 2011 9% 67

> 2011 5.37 2010 18% 10% PVIF PVIF 2011 1.35 4,200 2010 7% 2011 6,800 68

2011 64............. 2,571 1,317 1,051 173 (464) 43 4,691................... 1,741 706 475 160 15 3,097............. 120 169 652 135 (116) 960........... 9 1 246 16 (43) 229 56......... 129 170 898 135 (100) (43) 1,189................ (475) (72) (5) 15 (537)....... (475) (72) (5) 15 (537)......... 3 10 21 (10) 24....................... 1 14 24 39................. 4,317 758 13 5,088................... 505 175 79 8 1,185 (268) 1,684................... 8,791 3,065 2,546 476 665 (268) 15,275 65................. (3,887) (697) (9) (4,593) 52................. 4,904 2,368 2,537 476 665 (268) 10,682............. (77) (66) 23 (36) (156)................... 4,827 2,302 2,560 440 665 (268) 10,526................... (1,811) (703) (1,248) (252) (1,012) 268 (4,758)............... 3,016 1,599 1,312 188 (347) 5,768......... 6 9 4 36 55............. 3,022 1,608 1,316 188 (311) 5,823 % % % % % %............. 13.8 7.3 6.0 0.9 (1.4) 26.6................... 36.9 29.7 49.2 52.9 152.2 44.5 49................. 56,296 54,986 39,667 5,447 1,269 157,665....................... 85,866 63,516 238,892 20,680 84,782 (20,712) 473,024....................... 181,316 79,225 35,283 19,622 (101) 315,345 69

2010 17 17 64............. 2,604 1,106 915 173 (463) (89) 4,246................... 1,656 634 495 163 14 2,962............. 198 121 680 120 (12) 1,107........... 4 100 12 89 205 56................. 202 121 780 120 89 1,312......... (2) (2)....... 328 (10) 61 1 380....... 328 (10) 61 (1) 378......... 56 1 41 98....................... 1 12 17 30................. 3,655 665 12 4,332................... 513 68 156 12 1,140 (283) 1,606................... 8,958 2,585 2,487 469 748 (283) 14,964 65................. (4,193) (559) (10) (4,762) 52................. 4,765 2,026 2,477 469 748 (283) 10,202................. (76) (28) (10) (114)................... 4,689 1,998 2,467 469 748 (283) 10,088................... (1,693) (653) (1,124) (242) (1,002) 283 (4,431)............... 2,996 1,345 1,343 227 (254) 5,657......... 5 7 4 19 35............. 3,001 1,352 1,347 227 (235) 5,692 % % % % % %............. 15.7 7.1 7.1 1.2 (1.2) 29.9................... 35.5 32.2 45.4 51.6 134.0 43.4 49................. 50,983 48,670 34,491 4,760 1,787 140,691 68...................... 76,871 55,030 223,286 20,598 62,486 (8,706) 429,565....................... 176,960 71,209 29,388 19,241 686 297,484 95 70

22 2011 2010 2009......... 5,102 3,828 3,539....... 2,111 1,932 1,557....... 1,658 1,618 1,606........... 1,842 1,854 1,301 52...... 10,713 9,232 8,003 53.......... (267) (439) (896)....... 10,446 8,793 7,107....... (5,806) (5,143) (4,450)........... 4,640 3,650 2,657 54.. 2,831 2,252 1,543......... 7,471 5,902 4,200....... 54.2% 55.7% 55.6% 55...... 3.1% 3.1% 2.4%....... 91,051 91,607 87,141 24% 2011 2011 2011 21.5% 7 6.5% 4% 9.7% 8.9% 201010.4% 20119.2% 2011 2011 3 2011 3 20112010 2011 5.2% 95 71

17 17 2011......................... 88 106 108 5 307......................... (14) 122 539 5 161 813......................... 6 89 157 7 259..................... 1,112 1,340 1,116 (4) 117 3,681................... 1,179 1,150 529 117 2,975........... (67) 190 587 (4) 706..................... 173 118 228 1 9 529....................... 183 133 189 97 (7) 595......................... 45 23 130 12 210......................... 51 79 24 154......................... 48 264 543 (8) 76 923 1,641 2,246 3,089 91 404 7,471 2010......................... 59 96 95 8 258......................... (83) 71 508 4 179 679......................... 12 94 116 (3) 219..................... 839 833 683 (7) 217 2,565................... 973 746 443 188 2,350........... (134) 87 240 (7) 29 215..................... 120 88 194 (1) 401....................... 169 87 100 84 84 524......................... 31 36 87 (7) 147......................... (7) 50 61 7 111......................... 22 201 644 131 998 1,162 1,556 2,488 81 615 5,902 2009......................... 30 32 140 (4) 198......................... (220) (41) 394 1 240 374......................... (24) 60 129 (11) 154..................... 494 616 479 (7) 50 1,632................... 678 558 285 1,521........... (184) 58 194 (7) 50 111..................... 88 53 140 5 286....................... 154 77 222 98 (9) 542......................... 6 65 87 2 160......................... (8) 40 63 6 101......................... (9) 162 617 (2) (15) 753 511 1,064 2,271 90 264 4,200 95 2011 9 2.5% 5.2% 11124.75 4.25 75 201059 27% 20102011 1.881.81 23% 72

73 20102011 24 50 2010 9% Amanah 2011 2011 12 2012 1 2012 28% 2010 4% 17 2010 1,80020102,900

2011 2,300 2010 1.512011 2010 58% 7.59 9,200 PVIF 42 2.67 8% 22% 2011 7 74

2011 64...................... 1,838 1,254 1,964 116 123 (193) 5,102............ 904 513 621 82 (9) 2,111.............. 94 156 1,153 66 (90) 1,379.... (2) 1 76 11 193 279 56.......... 92 157 1,229 66 (79) 193 1,658.......... 4 4........ (38) 2 1 15 (20)........ (38) 2 1 19 (16).......... 2 (25) 1 (1) (23)........................ 2 2.................. 493 266 759.................... 145 72 75 5 1,592 (178) 1,711.................... 3,434 2,266 3,867 270 1,645 (178) 11,304 65................... (351) (240) (591) 52................... 3,083 2,026 3,867 270 1,645 (178) 10,713.............. (222) 10 (57) 2 (267).................... 2,861 2,036 3,810 272 1,645 (178) 10,446.................... (2,409) (945) (1,268) (181) (1,181) 178 (5,806)........................ 452 1,091 2,542 91 464 4,640.. 1,189 1,155 547 (60) 2,831...................... 1,641 2,246 3,089 91 404 7,471 % % % % % %.............. 7.5 10.3 14.1 0.4 1.9 34.2.................... 78.1 46.6 32.8 67.0 71.8 54.2 49.................. 40,970 38,404 41,114 3,190 190 123,868........................ 54,484 50,688 195,549 12,879 16,616 (12,400) 317,816........................ 60,831 40,423 60,855 11,872 31 174,012 75

2010 17 17 64.................... 1,581 938 1,435 91 55 (272) 3,828.......... 834 442 611 55 (10) 1,932............ 80 129 967 69 (38) 1,207.......... 138 1 272 411 56........ 80 129 1,105 69 (37) 272 1,618........ (2) (2)...... 41 2 (1) (16) 26...... 41 2 (1) (18) 24........ 3 51 92 146...................... 1 1................ 386 62 448.................. 109 86 55 1 1,499 (152) 1,598.................. 3,031 1,662 3,257 216 1,581 (152) 9,595 65................. (324) (39) (363) 52................. 2,707 1,623 3,257 216 1,581 (152) 9,232................ (298) (19) (122) (439).................. 2,409 1,604 3,135 216 1,581 (152) 8,793.................. (2,233) (799) (1,094) (135) (1,034) 152 (5,143)...................... 176 805 2,041 81 547 3,650........ 986 751 447 68 2,252.................... 1,162 1,556 2,488 81 615 5,902 % % % % % %............ 6.1 8.2 13.1 0.4 3.2 31.0.................. 82.5 49.2 33.6 62.5 65.4 55.7 49................ 37,831 31,423 35,810 3,489 178 108,731...................... 49,758 41,588 166,710 12,126 19,450 (11,570) 278,062...................... 54,741 36,943 53,752 12,620 99 158,155 95 76

40% 2011 2010 2009..................... 1,432 1,367 1,485................... 627 677 625................... 482 370 394....................... 66 (4) 90 52.................. 2,607 2,410 2,594 53...................... (293) (627) (1,334)................... 2,314 1,783 1,260................... (1,159) (1,078) (1,001)....................... 1,155 705 259 54.............. 337 187 196..................... 1,492 892 455................... 44.5% 44.7% 38.6% 55........ 2.6% 1.6% 0.8%................... 8,373 8,676 8,281 2010 2008 2011 95 2011 5% 15% 25% 2010 6 15 6 67% 2010 British Arab Commercial Bank 4,2002011 2,700 HSBC Saudi Arabia Limited SABB Securities Limited HSBC Saudi Arabia Limited 57% 2010 77

17 17 2011....................................... 43 55 129 (2) 225..................................... (4) 35 81 112..................................... 134 240 200 (6) 7 575....................................... 17 109 93 219............... 190 439 503 (6) 5 1,131................................. 57 98 140 4 62 361 247 537 643 (2) 67 1,492 2010....................................... 38 82 77 (2) 195..................................... 19 52 67 138..................................... 17 186 121 1 (1) 324....................................... 19 57 (19) 57............... 93 377 246 1 (3) 714................................. 25 107 53 (16) 9 178 118 484 299 (15) 6 892 2009....................................... 18 51 97 58 224..................................... 10 60 66 136..................................... (177) (136) 307 (2) 5 (3)....................................... 3 (15) (80) (3) (95)............... (146) (40) 390 (2) 60 262................................. 42 61 55 8 27 193 95 (104) 21 445 6 87 455 10% 2011 ClientSphere 78

79 2010 AAA 6% 2010 2011 7% 31% 2010 8% 3,100 81%

2011 64........................ 589 496 371 2 2 (28) 1,432.............. 173 271 173 13 (3) 627................ 62 95 266 1 (1) 423...... 32 (1) 28 59 56............ 62 95 298 1 (2) 28 482.................. 10 10............ 1 1 (7) (3) (8).......................... 1 1 3 5.............. 22 11 11 (1) 124 (108) 59...................... 848 875 849 15 128 (108) 2,607 65..................... 52..................... 848 875 849 15 128 (108) 2,607.................... (126) (116) (51) (293)...................... 722 759 798 15 128 (108) 2,314...................... (535) (320) (295) (21) (96) 108 (1,159).................. 187 439 503 (6) 32 1,155............ 60 98 140 4 35 337................ 247 537 643 (2) 67 1,492 % % % % % %................ 1.1 2.5 2.9 0.3 6.8...................... 63.1 36.6 34.7 140.0 75.0 44.5 49.................... 4,921 12,446 8,479 26 3 25,875.......................... 6,549 14,556 34,676 72 4,792 (3,181) 57,464.......................... 18,549 10,943 6,703 114 113 36,422 80

2010 17 17 64........................ 553 473 334 14 (7) 1,367...................... 200 258 202 17 677................ 59 85 205 1 (7) 343...... 1 7 18 (6) 7 27 56............ 60 92 223 1 (13) 7 370...................... 1 (3) (1) (3).......................... 2 1 4 7.............. 27 (8) (1) 1 40 (67) (8)...................... 843 816 759 19 40 (67) 2,410 65..................... 52..................... 843 816 759 19 40 (67) 2,410.................... (227) (145) (255) (627)...................... 616 671 504 19 40 (67) 1,783...................... (524) (297) (263) (18) (43) 67 (1,078).................. 92 374 241 1 (3) 705.... 26 110 58 (16) 9 187................ 118 484 299 (15) 6 892 % % % % % %................ 0.6 2.6 1.6 (0.1) 4.7...................... 62.2 36.4 34.7 94.7 107.5 44.7 49.................... 5,063 12,293 7,247 21 2 24,626.......................... 6,286 13,991 31,253 59 4,129 (2,961) 52,757.......................... 17,538 10,319 5,306 290 58 33,511 95 81

HSBC Markets (USA) Inc. HSBC Securities (USA) Inc. 2011 2010 2009.................... 11,480 12,439 13,670.................. 3,308 3,664 4,817.......... (362) 314 331.............. 1,574 630 (2,513) 52................ 16,000 17,047 16,305 53..................... (7,016) (8,295) (15,664).................. 8,984 8,752 641.................. (8,919) (8,322) (8,391).............. 65 430 (7,750) 54............ 35 24 12............ 100 454 (7,738).................. 55.7% 48.8% 51.5% 55....... % 0.1% (2.1)%.................. 30,981 33,865 35,458 195 89 495 9.65 2010 3% 2011 2011 2011 50% 20111.7% 2011 3.1%2010 1.7% 2010 0.6%2011 2011 12 8.5%2010 9.6% 0 0.25 2013 9 4,000 2010 3.2% 20112.4% 1.8%2.9% 2011 1 95 82

17 17 2011................................... (2,861) 431 567 83 782 (998)................................. 147 545 265 8 965................................. 49 26 43 7 9 134................................... (1) (1) (2,665) 1,002 875 90 798 100 2010................................... (2,305) 402 1,284 113 (39) (545)................................. 131 505 227 4 867................................. 58 32 38 (3) 7 132................................... 1 (1) (2,116) 939 1,549 111 (29) 454 2009 69.................................. (5,275) 158 488 (49) (3,626) (8,304)................................. 34 347 142 (100) 423................................. 60 37 36 (2) 10 141................................... 1 1 1 (1) 2 95 2011 1 2010 4.54 78% 9.72010 1.42 6,600 2011 8.72010 2.85 2011 (5,181) 543 667 (50) (3,717) (7,738) 2011 2011 4% 9.55 2011 2011 Capital 83

One Financial Group 2012 195First Niagara Bank, N.A. 2012 2012 1 88 2011 2.3620101,300 2011 2.4 2011 8% 115 2010 2010 10% 33 2010 3.622010 3.19 2010 201111 2010 3.53 29% 2010 8,900 2010 3.41 9,200 84

82% 37% 2.26 2010 PVIF 2010 5,600 16% 70 2006 2011 2012 26% 16 124 68% 20102011 7% 89 2.57 4,800 2011 2.36 2010 1.47 2010 85

2011 64...................... 8,931 1,528 893 187 9 (68) 11,480............ 1,836 551 773 149 (1) 3,308.............. (946) 34 261 17 (26) (660).... 25 1 205 (1) 68 298 56.......... (921) 35 466 17 (27) 68 (362).......... 967 967........ (5) 2 (3)........ (5) 969 964.......... 58 7 195 2 262........................ 15 9 13 3 40.................. 236 236.................... (125) 110 193 11 2,244 (2,207) 226.................... 10,030 2,240 2,528 367 3,196 (2,207) 16,154 65................... (154) (154) 52................... 9,876 2,240 2,528 367 3,196 (2,207) 16,000.............. (6,929) (105) (11) 30 (1) (7,016).................... 2,947 2,135 2,517 397 3,195 (2,207) 8,984.................... (5,615) (1,166) (1,642) (307) (2,396) 2,207 (8,919)................ (2,668) 969 875 90 799 65.. 3 33 (1) 35.............. (2,665) 1,002 875 90 798 100 % % % % % %.............. (12.2) 4.6 4.0 0.4 3.7 0.5.................... 56.9 52.1 65.0 83.7 75.0 55.7 49.............. 86,490 32,215 19,289 4,753 142,747........ 31,058 520 31,578........................ 144,278 43,747 320,783 7,138 10,378 (22,022) 504,302.................... 63,558 47,003 30,465 14,862 94 155,982.. 10,104 5,040 15,144 86

2010 17 17 64.............. 9,912 1,525 952 190 (71) (69) 12,439............ 2,142 534 845 149 (6) 3,664.............. (472) 17 563 13 (12) 109............ 24 2 93 17 69 205 56.......... (448) 19 656 13 5 69 314.......... 111 111........ 6 (2) (4)........ 6 (2) 107 111.......... 5 (6) 141 3 143........................ 18 7 12 3 2 42.................. 245 245.................... (250) 242 71 15 2,351 (2,196) 233.................... 11,630 2,321 2,675 370 2,391 (2,196) 17,191 65................... (148) 4 (144) 52................... 11,482 2,321 2,675 370 2,395 (2,196) 17,047.............. (8,194) (323) 184 38 (8,295).................... 3,288 1,998 2,859 408 2,395 (2,196) 8,752.................... (5,408) (1,081) (1,310) (297) (2,422) 2,196 (8,322)................ (2,120) 917 1,549 111 (27) 430.. 4 22 (2) 24.............. (2,116) 939 1,549 111 (29) 454 % % % % % %.............. (11.1) 5.0 8.1 0.6 (0.2) 2.4.................... 47.1 46.6 49.0 80.3 101.1 48.8 49.................. 131,194 30,277 24,338 4,723 190,532........................ 154,204 39,213 306,298 5,824 9,373 (22,425) 492,487........................ 76,817 46,425 22,324 12,812 108 158,486 95 87

2011 2010............................. 4,128 2,990 1,813 8,931 4,727 3,404 1,781 9,912................... 1,273 (49) 612 1,836 1,333 55 754 2,142..................... (1,145) 199 (946) (377) (95) (472)........... 25 25 24 24 56................. (1,145) 224 (921) (377) (71) (448)........................................ 6 6....................... 6 6................. 55 3 58 5 5............................... 5 10 15 3 3 12 18......................... 230 6 236 236 9 245........................... 61 (185) (1) (125) 52 (253) (49) (250)........................... 5,462 1,901 2,667 10,030 6,115 3,073 2,442 11,630 65.......................... (156) 2 (154) (152) 4 (148) 52.......................... 5,462 1,745 2,669 9,876 6,115 2,921 2,446 11,482......................... (1,600) (4,982) (347) (6,929) (2,174) (5,811) (209) (8,194)................... 3,862 (3,237) 2,322 2,947 3,941 (2,890) 2,237 3,288........................... (1,801) (1,238) (2,576) (5,615) (1,962) (1,190) (2,256) (5,408)....................... 2,061 (4,475) (254) (2,668) 1,979 (4,080) (19) (2,120)................................. 3 3 4 4..................... 2,061 (4,472) (254) (2,665) 1,979 (4,076) (19) (2,116) % % % % % % % %..................... 9.4 (20.4) (1.2) (12.2) 10.4 (21.4) (0.1) (11.1)........................... 33.0 70.9 96.5 56.9 32.1 40.7 92.2 47.1 49..................... 43,543 42,947 86,490 30,710 55,010 45,474 131,194............... 29,137 1,921 31,058............................... 30,635 56,830 56,813 144,278 32,044 70,587 51,573 154,204........................... 63,558 63,558 76,817 76,817......... 10,104 10,104 95 88

2011 2010 2009..................... 6,956 6,311 5,573................... 1,781 1,749 1,729................... 1,378 733 848....................... 1,338 938 874 52................. 11,453 9,731 9,024 53...................... (1,883) (1,544) (2,526)................... 9,570 8,187 6,498................... (7,255) (6,394) (5,375)....................... 2,315 1,793 1,123 54.............. 2 1..................... 2,315 1,795 1,124................... 63.3% 65.7% 59.6% 55........ 2.3% 2.0% 1.4%................... 54,035 56,044 54,288 14% 95 2011 3% 2011 6 7.5%6.5% 2011 2011 2011 3.9% 2011 3.8% 4.5 2011 2010 9.4% 11.3% 19.9% 2011 16.4% 2011 23 2010 29% HSBC Afore 8,300 21% 89

17 17 2011................................. 91 107 148 (2) 344................................... 241 566 515 13 (105) 1,230................................. 403 129 268 4 (178) 626................................. 23 59 52 3 (9) 128................................... (55) 6 66 (30) (13) 703 867 1,049 20 (324) 2,315 2010................................. 89 90 105 284................................... 151 382 430 6 64 1,033................................. 174 24 210 4 (11) 401................................. 48 57 33 2 140................................... (100) 1 51 (2) (13) (63) 362 554 829 10 40 1,795 2009................................. 25 86 121 232................................... (202) 211 493 5 3 510................................. (24) 66 223 7 272................................. 69 55 24 148................................... (54) (19) 40 (1) (4) (38) 95 (186) 399 901 11 (1) 1,124 2011 14 2011 10 2011 2010 2010 43 2011 77 2011 HSBC Afore 2011 1,900 2012 1 2012 20102011 7% 70 90

2011 2010 82% 2010 26% 36% 26% 27 2.44 2010 74% 6,100 PVIF 17% 19 2011 28% 2010 10%2011 3.38 2.2 91

2011 64................ 4,519 2,229 882 25 (7) (692) 6,956...................... 939 610 196 36 1,781................ 68 106 372 5 (7) 544.............. 134 8 692 834 56..................... 68 106 506 5 1 692 1,378.................. 424 124 2 550............ 11 1 124 1 137.......................... 10 3 1 14.................... 2,068 551 34 2,653...................... 265 57 32 2 222 (250) 328...................... 8,304 3,681 1,777 69 216 (250) 13,797 65..................... (1,850) (478) (16) (2,344) 52.................... 6,454 3,203 1,761 69 216 (250) 11,453.................... (1,369) (501) (12) (1) (1,883)...................... 5,085 2,702 1,749 69 215 (250) 9,570...................... (4,382) (1,835) (700) (49) (539) 250 (7,255).................. 703 867 1,049 20 (324) 2,315............................ 703 867 1,049 20 (324) 2,315 % % % % % %................ 3.2 4.0 4.8 0.1 (1.5) 10.6...................... 67.9 57.3 39.8 71.0 249.5 63.3 49.................... 19,025 25,834 11,011 62 6 55,938.......................... 39,231 38,410 66,241 1,660 417 (1,070) 144,889.......................... 28,629 24,050 18,940 7,079 62 78,760 92

2010 17 17 64........................ 3,979 1,671 772 20 121 (252) 6,311.............. 1,006 526 191 32 (6) 1,749................ 35 72 370 3 (27) 453.............. 28 252 280 56............ 35 72 398 3 (27) 252 733................ 339 85 1 425............ 6 2 93 (3) 98.......................... 7 2 3 12.................... 1,651 374 29 2,054...................... 98 34 15 2 221 (229) 141...................... 7,121 2,766 1,502 57 306 (229) 11,523 65..................... (1,479) (297) (16) (1,792) 52..................... 5,642 2,469 1,486 57 306 (229) 9,731.................... (1,247) (293) (4) (1,544)...................... 4,395 2,176 1,482 57 306 (229) 8,187...................... (4,034) (1,623) (653) (47) (266) 229 (6,394).......................... 361 553 829 10 40 1,793............ 1 1 2........................ 362 554 829 10 40 1,795 % % % % % %................ 1.9 2.9 4.3 0.1 0.2 9.4...................... 71.5 65.7 43.9 82.5 86.9 65.7 49.................... 20,823 24,879 12,242 43 57,987.......................... 38,819 35,619 64,635 1,608 196 (939) 139,938.......................... 30,149 24,514 27,810 6,053 88,526 95 93

2011 2010 1 1............ 925 857......... 2 42............. (40) 33........... (40) (7) 12 31.......... 847 925 12 31 2011 2010......... 396 439......... 259 277............. 3 3................. 189 206 847 925 2011 12 31 8,470 2010 8% 10% 3,960 2010 12 31 7% 2,590 1203,770 2011 12 31 5.2 2010 12 315.77% 2011 12 31 2.62010 2.7 2011 12 31 9,500 2,2702,940 840 3,210 250 6,570 20107,130 2011 89 201071 13 IFRS 25 44 8% 1,890 94

2 93 2012 3 2011 1 1 1.63 2011 1 2010 0.08 2011 1 122010 0.12 2011 5 5 2011 7 62011 10 62012 1 18 2011 0.09 1120112012 2 27 2011 0.142012 5 2 2012 4 23 2011 12 31 346.21 6.2A 15.5A A0.38752011 3 152011 6 152011 9 15 2011 12 15 8.125 0.508 2011 1 182011 4 152011 7 15 2011 10 15 8 0.5 2011 3 156 159 1512 15 2 3 4 5 5 6 7 100 8 20112.5 9 HBEUHBAPHBUS 10 11 12 2010 13 14 15 16 17 2011 3 1 18 2009 95

19 2008 105.64 20 2009 21 22 23 24 25 26 2011 2011 27 28 29 30 31 32 11.6120109.02200913.09 33 4.5820102,30020094.44 34 35 36 37 38 2008 201022011 2.5 39 2007 1 40 214 41 34 42 43 44 HSBC Assurances Vie 45 46 IFRS2008 IFRS 47 335 12 48 2011 12 312.08 20101.882009 39 20101200965 96

49 50 2010 51 2.5 52 53 54 55 20092009 56 57 20114.582010 2,3002009 4.44 58 56201044200941 40 20103320093115 201011200911 59 32201027200922 26 2010212009176.34 6.0120105.232009 3.82 3,300 20101.1320091.25 60 61 62 63 64 (i) (ii) 65 66 67 68 2010 1 1 69 97

1........................ 98 1........................ 98 1............... 99 3........................ 104 2................. 157 3........................ 163 1........................ 170 2............... 171 1................... 183........................ 188 1 2 3 10.1% 2011 90% 2011 233 2011 2011 2011 2011 121 2010 15% 188 98

3212 188 113 118 2011 99

2011 3 4 20 20 2012 3 4 4 4 2.5% 2.5% 2015 2018 100

2013 3% PLAC 20% 2012 2011 7 19 2011 5.7 2011 5.87 2011 10 11 213 3 4 213 101

44 44 102

11 103

2011 2011..................... 104......................... 105......................... 112...................................................................................................................................................................................................... 2% 11,390 2011 12 31 47 133 2011 188 2011 2011 2010 12 31 (A)............ 1,139.1 1,186.9................... 17.6 20.2 A........... 1.55% 1.70% 12 31 1.................. 11.5 13.5 185 2011 2010 12 31................ 12,127 14,039 % %................... 77 80............. 17 16............... 1 1....... 5 3........... 2 100 100 2011 2011 12 31 11,390 2010 12 31 2% 195 105 2011 2011 12 31 47 2011 2.122011 12 31 104

3,940 2010 12 31 6% 2011 12 312,790 53% 49% 52% 37% 2011 12 31 670 2010 12 31 39% 2011 15% 495 2011 2011 2011 133 42.3% 2010 43% 71.6% 2011 107 127 129 12 31................... 1,139,052 17,636........... 37,273 1,614............... 1,176,325 19,250 2010 2011 105

2011 107 2010 2011 2011 2011 2011 107 2011 12 31 3,0602010 1,980 2,7202010 1,780 3302010191 720102 2011 2011 77% 56% 201080% 57% 144 2011 106

2011 12 31 2010 12 31................... 129,902 129,902 57,383 57,383................... 8,208 8,208 6,072 6,072....................... 20,922 20,922 19,057 19,057............................. 309,449 (4,656) 304,793 343,966 (4,189) 339,777................. 34,309 34,309 25,620 25,620............................... 130,487 130,487 168,268 168,268............................... 75,525 75,525 70,456 70,456............................... 69,128 (4,656) 64,472 79,622 (4,189) 75,433............... 12,926 12,926 19,593 19,593................. 123 123 159 159............................... 11,834 11,834 18,248 18,248............................... 119 119 315 315............................... 850 850 871 871................................. 346,379 (305,616) 40,763 260,757 (197,501) 63,256................... 1,121,416 (87,978) 1,033,438 1,166,637 (91,966) 1,074,671................................. 180,987 (3,066) 177,921 208,271 (3,099) 205,172................................. 940,429 (84,912) 855,517 958,366 (88,867) 869,499................................. 392,834 392,834 392,772 392,772................... 65,223 65,223 57,129 57,129............................... 327,611 327,611 335,643 335,643 2........................ 37,808 (204) 37,604..................... 37,746 (204) 37,542............... 62 62................................. 32,992 32,992 30,371 (29) 30,342............................. 11,010 11,010 10,116 (29) 10,087................................... 21,982 21,982 20,255 20,255....................... 39,324 39,324 49,436 49,436 3.................. 654,904 654,904 602,513 602,513 185 3,107,064 (398,454) 2,708,610 2,948,557 (293,685) 2,654,872 107

188 500 394 400 425 473 446 2011 2010 2011 12 31 1,8602010 2,350 15127 17% 21127 2011 12 31 2892010283 401 2010385 178 2011 12 31 3,460 20102,610 20 2011 12 31 8,720 2010 12 31 501% 300 200 100 0 86 102 2011 3,940 2010 12 31 6% 119 2011 12 31 49% 2010 12 31 6% 8%2011 4% 13853 2011 11% 5 6 108

2011 2010 2009 2008 2007................................. 393,625 (4,735) (26,960) 425,320 434,206 440,227 500,834 4.............................. 278,963 (1,825) 12,107 268,681 260,669 243,337 269,068 5.......................... 114,662 (2,910) (39,067) 156,639 173,537 196,890 231,766........................... 472,816 (6,329) 33,633 445,512 383,090 407,474 400,771 6................................ 96,054 (1,765) 6,698 91,121 80,487 81,103 72,895 6........................ 152,709 (2,074) 8,210 146,573 115,641 128,737 129,143............................... 73,941 (598) 2,659 71,880 69,389 70,969 72,345..................... 39,539 (245) 4,946 34,838 30,520 30,739 33,907............................... 11,079 (258) 2,743 8,594 6,689 6,544 5,708 7.......................... 99,494 (1,389) 8,377 92,506 80,364 89,382 86,773............................. 86,219 (1,874) (13,632) 101,725 96,650 101,085 99,148....................... 85,275 (1,818) (13,070) 100,163 95,237 99,536 96,781............................... 944 (56) (562) 1,562 1,413 1,549 2,367................. 5,280 (14) (598) 5,892 7,827 7,991......................... 957,940 (12,952) (7,557) 978,449 921,773 956,777 1,000,753............................. 181,112 (5,669) (21,648) 208,429 179,888 153,829 237,373............................. 1,139,052 (18,621) (29,205) 1,186,878 1,101,661 1,110,606 1,238,126 8........................ 41,584 (575) (4,712) 46,871 30,606 25,352 19,582........... 4.3% 4.8% 3.3% 2.6% 2.0%......................... 17,511 (396) (2,176) 20,083 25,542 23,909 19,205........... 1.8% 2.1% 2.8% 2.5% 1.9%............................. 11,505 185 (2,228) 13,548 24,942 24,131 17,177............. 12,931 210 (1,847) 14,568 25,832 24,965 18,182................................. (1,426) (25) (381) (1,020) (890) (834) (1,005) 185 332 13 13 4 5 6 109

% 2011 12 31............................... 166,147 63,181 43,580 5,269 95,336 20,112 393,625 41.1 4............................ 119,902 46,817 32,136 1,837 73,278 4,993 278,963 29.1 5........................ 46,245 16,364 11,444 3,432 22,058 15,119 114,662 12.0......................... 204,984 91,592 77,887 21,152 41,271 35,930 472,816 49.3 6.............................. 45,632 9,004 16,909 3,517 7,888 13,104 96,054 10.0 6...................... 64,604 29,066 29,605 8,664 10,710 10,060 152,709 15.9............................. 32,099 20,828 9,537 1,002 7,069 3,406 73,941 7.7................... 7,595 17,367 6,396 1,770 5,729 682 39,539 4.1............................. 3,143 2,918 962 1,563 656 1,837 11,079 1.2 7........................ 51,911 12,409 14,478 4,636 9,219 6,841 99,494 10.4........................... 63,671 3,473 3,183 1,168 12,817 1,907 86,219 9.0..................... 63,313 3,192 2,937 1,162 12,817 1,854 85,275 8.9............................. 358 281 246 6 53 944 0.1............... 4,776 504 5,280 0.6....................... 439,578 158,246 124,650 27,589 149,928 57,949 957,940 100.0......................... 45.9% 16.5% 13.0% 2.9% 15.7% 6.0% 100.0% 8............................ 11,751 604 1,069 2,425 22,696 3,039 41,584......... 2.7% 0.4% 0.9% 8.8% 15.1% 5.2% 4.3%........................... 5,242 581 782 1,714 7,181 2,011 17,511......... 1.2% 0.4% 0.6% 6.2% 4.8% 3.5% 1.8% 2010 12 31............................... 161,717 57,308 40,184 5,371 139,117 21,623 425,320 43.4 4............................ 111,618 42,488 28,724 1,751 78,842 5,258 268,681 27.4 5........................ 50,099 14,820 11,460 3,620 60,275 16,365 156,639 16.0......................... 203,804 80,823 67,247 19,560 38,707 35,371 445,512 45.6 6.............................. 46,890 8,171 15,050 3,074 5,748 12,188 91,121 9.3 6...................... 65,090 25,280 26,224 8,099 10,989 10,891 146,573 15.0............................. 30,629 19,678 8,732 1,085 8,768 2,988 71,880 7.3................... 6,401 15,232 5,426 1,785 5,109 885 34,838 3.6............................. 2,289 2,339 415 1,345 89 2,117 8,594 0.9 7........................ 52,505 10,123 11,400 4,172 8,004 6,302 92,506 9.5........................... 70,725 3,189 2,259 1,347 21,202 3,003 101,725 10.4..................... 70,019 2,824 2,058 1,335 21,109 2,818 100,163 10.2............................. 706 365 201 12 93 185 1,562 0.2............... 5,216 676 5,892 0.6....................... 441,462 141,320 109,690 26,278 199,702 59,997 978,449 100.0......................... 45.2% 14.4% 11.2% 2.7% 20.4% 6.1% 100.0% 8............................ 11,394 660 1,324 2,529 27,840 3,124 46,871......... 2.6% 0.5% 1.2% 9.6% 13.9% 5.2% 4.8%........................... 5,663 629 959 1,652 9,170 2,010 20,083......... 1.3% 0.4% 0.9% 6.3% 4.6% 3.4% 2.1% 185 110

2011 12 31 9..................... 54,406 35,159 47,309 8,571 14,831 20,836 181,112 (125) 2010 12 31 10.................... 78,239 33,585 40,437 9,335 19,479 27,354 208,429 (158) 2009 12 31...................... 65,614 36,197 35,648 8,435 15,386 18,608 179,888 (107) 2008 12 31...................... 62,012 29,646 28,665 7,476 11,458 14,572 153,829 (63) 2007 12 31...................... 104,534 63,737 32,373 7,488 16,566 12,675 237,373 (7) 185 2011 12 31............................. 119,902 46,245 39,694 233,737 439,578............................. 111,224 22,218 29,191 160,236 322,869............................. 3,353 9,305 8,160 49,572 70,390............................. 10 343 112 4,518 4,983........................... 1,708 567 520 1,591 4,386............................. 1,803 10,684 156 1,918 14,561........................... 767 2,797 255 3,652 7,471............................. 1,037 331 1,300 12,250 14,918............................. 46,817 16,364 38,195 56,870 158,246..................... 32,136 11,444 15,933 65,137 124,650............................. 9,251 1,327 2,357 6,073 19,008............................. 830 461 809 3,914 6,014............................. 81 463 97 4,577 5,218......................... 2,769 317 5,078 15,665 23,829......................... 4,329 2,166 1,351 5,898 13,744........................... 7,919 4,108 3,690 9,433 25,150............................. 3,062 550 139 4,555 8,306............................. 42 184 42 1,397 1,665............................. 3,853 1,868 2,370 13,625 21,716..... 1,837 3,432 2,772 19,548 27,589............................. 2 441 100 2,775 3,318........................... 9 445 354 1,098 1,906........................... 1,520 1,882 1,464 12,070 16,936............................. 306 664 854 3,605 5,429........................... 73,278 22,058 12,798 41,794 149,928............................. 52,484 14,087 7,850 27,307 101,728........................... 19,045 7,518 4,391 13,600 44,554........................... 1,749 453 557 887 3,646......................... 4,993 15,119 4,088 33,749 57,949........................... 32 1,379 114 2,331 3,856............................. 1,657 9,802 1,660 18,638 31,757........................... 1,847 2,261 1,284 8,210 13,602........................... 1,240 1,014 923 2,537 5,714............................. 217 663 107 2,033 3,020............................. 278,963 114,662 113,480 450,835 957,940 111

2010 12 31............................. 111,618 50,099 37,030 242,715 441,462............................. 103,037 25,636 26,002 165,283 319,958............................. 3,749 9,550 8,737 56,613 78,649............................. 11 356 79 4,015 4,461........................... 1,656 599 563 1,643 4,461............................. 1,358 10,708 114 1,837 14,017........................... 809 2,817 210 2,783 6,619............................. 998 433 1,325 10,541 13,297............................. 42,488 14,820 34,910 49,102 141,320..................... 28,724 11,460 14,158 55,348 109,690............................. 8,405 1,267 2,346 4,867 16,885............................. 920 526 680 4,583 6,709............................. 74 531 115 3,374 4,094......................... 2,046 310 3,836 12,932 19,124......................... 3,833 2,053 1,361 4,845 12,092........................... 6,571 3,661 3,262 7,846 21,340............................. 3,002 527 135 2,832 6,496............................. 35 162 59 1,255 1,511............................. 3,838 2,423 2,364 12,814 21,439..... 1,751 3,620 2,870 18,037 26,278............................. 3 396 111 2,484 2,994........................... 8 491 404 918 1,821........................... 1,477 2,099 1,359 11,043 15,978............................. 263 634 996 3,592 5,485........................... 78,842 60,275 13,877 46,708 199,702............................. 57,630 51,686 8,269 31,496 149,081........................... 19,505 8,070 5,079 14,711 47,365........................... 1,707 519 529 501 3,256......................... 5,258 16,365 3,873 34,501 59,997........................... 30 918 103 2,172 3,223............................. 1,111 10,979 1,816 17,093 30,999........................... 2,097 2,365 1,146 8,622 14,230........................... 1,155 982 489 3,794 6,420............................. 865 1,121 319 2,820 5,125............................. 268,681 156,639 106,718 446,411 978,449 112

113 2011 20072011 2011 2011 20112012 1 IFRS 2011

2011 12 31 5% 111 IFRS 5 2011 12 31 8 2003 ISDA 2009 7 2011 12 31....................... 0.4 0.3 2.3 0.5 1.2 4.7............................. 0.7 1.9 2.0 0.5 3.1 8.2............... 3.9 3.2 2.6 0.1 6.0 15.8............................. 1.0 1.0 6.0 5.4 6.9 1.1 10.3 29.7 2011 1,090 (1,550 2012 2 145 (1902012 3 1,300 (1,720 2012 114

2011 12 31 47 2010 22 46% 21% 33% 2011 12 31 870 26% 28% 46% 2 2011 2.12 2011 2011 12 31 2011 12 31.......... 0.1 0.1............ 0.1 0.1...................... 0.1 0.1 11.............. 0.1 0.1 0.8 0.1 0.9 2.0.................... 0.2 0.2.................. 0.1 0.8 0.1 0.9 1.9................ 0.3 0.2 1.4 0.4 0.1 2.4............ 0.4 0.3 8.3 0.6 1.8 11.4........................ (0.1) (0.1) (6.9) (0.2) (1.7) (9.0) 12...................... 0.1 0.1............ 0.3 0.7 0.3 0.2 1.5........ (0.3) (0.7) (0.3) (0.1) (1.4)............................ 0.4 0.3 2.3 0.5 1.2 4.7.... 0.1 0.3 0.1 0.4 0.9.................... 0.1 0.3 0.1 0.4 0.9............ 1.0 1.0........................ 1.0 1.0........ 1.2 0.2 0.6 0.4 0.4 2.8........ (0.7) (0.2) (0.6) (0.3) (0.4) (2.2).... 1.8 0.9 3.9 1.2 3.3 11.1.... 1.0 0.9 3.8 1.2 3.5 10.4 185 115

2011 12 31.................... 27 20 40 87 Dexia Bank Belgium MF Global Holdings 2% 1% 2011 7 2011 1012 2012 1 20 2012 6 9% 71 1,090 (1,460 68% 10.5% 2011 12 5% 2012 2012 3 4 116

2011 12 31............................. 0.1 0.1 0.5 0.3 0.2 1.2............. 0.2 0.2 0.4....................... 0.2 0.2 0.4 11............... 0.4 0.3 0.4 1.1................... 0.4 0.3 0.4 1.1................. 0.4 0.9 0.6 0.1 2.0 4.0............. 0.4 0.9 0.6 0.1 2.4 4.4......................... (0.4) (0.4) 12....................... 0.2 0.3 0.4 0.1 0.5 1.5............. 0.7 8.3 1.9 0.2 3.6 14.7......... (0.5) (8.0) (1.5) (0.1) (3.1) (13.2)............................. 0.7 1.9 2.0 0.5 3.1 8.2..... 0.2 0.4 0.4 1.0..................... 0.2 0.4 0.4 1.0............. 0.2 0.1 0.4 0.7................... 0.2 0.1 0.4 0.7......... 0.5 0.1 0.1 0.7......... (0.5) (0.1) (0.1) (0.7)..... 3.5 0.6 1.5 5.6..... 3.5 0.5 1.4 5.4 185 2011 12 31................... 47 21 15 83 2011 12 31 20 117

2011 12 31............................. 3.8 2.1 1.4 5.6 12.9......................... 4.0 2.1 1.4 5.7 13.2..................... (0.2) (0.1) (0.3) 11............... 0.3 0.3 0.1 0.1 0.8................. (0.1) (0.1)................... 0.4 0.2 0.1 0.1 0.8................. 0.3 0.2 0.1 0.6............. 0.3 0.2 0.2 0.7......................... (0.1) (0.1) 12....................... 0.1 0.5 0.7 0.2 1.5............. 0.1 0.7 1.0 0.2 2.0......... (0.2) (0.3) (0.5)............................. 3.9 3.2 2.6 0.1 6.0 15.8..... 0.2 0.1 0.1 0.4..................... 0.2 0.1 0.1 0.4............. 1.4 0.3 1.3 0.6 3.6................... 0.6 0.2 0.4 0.5 1.7......................... 0.8 0.1 0.9 0.1 1.9......... 0.1 0.3 0.1 0.1 0.6......... (0.1) (0.2) (0.1) (0.1) (0.5)..... 0.2 0.3 3.7 0.6 1.4 6.2..... 0.3 0.3 3.5 0.7 1.3 6.1 185 2011 12 31.................... 35 7 9 51 2011 2011 8 AA+ 118

119 2012 2011 2011 (Dubai World) 2011 3 250 2011 2011 12 31 1,130 2010 12 31 7% 12%2011 2010 65%

75% 95% 2011 123 2007 2009 122 2011 12 31 3,940 2010 12 31 6% 93 2010 18% 1,330 2010 12 31 4% 122 13% 10% 630 2011 13% 2011 12 31 670 201039% 134 120

2011 12 31140 10 13 14 2011 12 31......................... 111,224 8,678 52,484 20,794 85,783 278,963..................... 22,218 24,027 14,087 7,971 46,359 114,662..................... 24 20 29 4,494 4,567....................... 11,279 2,192 833 1,262 13,922 29,488............... 694 7,063 468 233 8,458......................... 10,245 21,811 6,171 6,212 27,710 72,149..................... 133,442 32,705 66,571 28,765 132,142 393,625....................... (383) (58) (4,551) (27) (302) (5,321)................... (745) (366) (1,659) (109) (1,560) (4,439)..................... (4) (164) (168)....................... (177) (148) (46) (35) (428) (834)............... (42) (1) (740) (9) (792)......................... (526) (213) (873) (65) (968) (2,645)............. (1,128) (424) (6,210) (136) (1,862) (9,760)......... 0.8% 1.3% 9.3% 0.5% 1.4% 2.5% 2010 12 31......................... 103,037 8,581 57,630 21,212 78,221 268,681..................... 25,636 24,463 51,686 8,589 46,265 156,639..................... 35 72 55 5,886 6,048....................... 11,612 1,916 33,744 1,334 13,778 62,384............... 846 2 9,322 578 422 11,170......................... 13,178 22,510 8,548 6,622 26,179 77,037..................... 128,673 33,044 109,316 29,801 124,486 425,320....................... (275) (58) (3,592) (25) (297) (4,247)................... (1,348) (467) (4,436) (179) (1,616) (8,046)................... (5) (244) (249)..................... (506) (216) (2,256) (62) (483) (3,523)............. (58) (889) (19) (966)....................... (784) (246) (1,291) (98) (889) (3,308)............. (1,623) (525) (8,028) (204) (1,913) (12,293)......... 1.3% 1.6% 7.3% 0.7% 1.5% 2.9% 185 2011 12 31 2,870 121

20103 2011 12 31595 2010 11% 15% 2010 12 31 16% 2011 12 31 441 11% 2010 12 31 13% 15 2011 12 31 2010 12 31............................... 13,141 26,467 39,608 15,300 30,016 45,316............................... 1,724 2,796 4,520 2,269 3,349 5,618 14,865 29,263 44,128 17,569 33,365 50,934................................. 1,846 3,242 5,088 1,837 2,474 4,311....................... 12.4% 11.1% 11.5% 10.5% 7.4% 8.5% 185 2011 12 31 154 2010 4% 2011 2010 2009 12010 12 48 2011 124 2011 12 311,120 12% 2010 8% 53% 52% 122

468 2010 10% 2010 2011 6 49% 37% 13 14 2011 12 31............................. 111,224 8,678 52,484 20,794 85,783 278,963....................... 694 7,063 468 233 8,458......................... 111,918 8,678 59,547 21,262 86,016 287,421....... 0.6% 11.9% 2.2% 0.3% 2.9%........................... (383) (58) (4,551) (27) (302) (5,321)..................... (42) (1) (740) (9) (792)................. (425) (59) (5,291) (36) (302) (6,113)............... 46,886 48 667 1,256 48,857................. 177 496 17,089 277 6,894 24,933................................. 106 189 295..... 47,169 544 17,089 944 8,339 74,085............. 42.1% 6.3% 28.7% 4.4% 9.7% 25.8% 2010 12 31............................. 103,037 8,581 57,630 21,212 78,221 268,681....................... 846 2 9,322 578 422 11,170......................... 103,883 8,583 66,952 21,790 78,643 279,851....... 0.8% 13.9% 2.7% 0.5% 4.0%........................... (275) (58) (3,592) (25) (297) (4,247)..................... (58) (889) (19) (966)................. (333) (58) (4,481) (44) (297) (5,213)............... 45,039 51 908 1,282 47,280................. 1,089 326 18,494 274 7,855 28,038................................. 102 183 285..... 46,230 377 18,494 1,182 9,320 75,603............. 44.5% 4.4% 27.6% 5.4% 11.9% 27.0% 185 123

2011 2011 2011 122010 129.4% 8.5% 17 2011 122 2011 12 31 525 20109% 2010 12 31 8.5% 2011 12 31 11.5% 100% 144 2010 2010 12 3149 2011 12 3151 28 7.9% 2011 12 31 8.2% 100% 90 97% 90 100% 2011 12 31 24% 71 12% 2011 12 317 2010 12 31 8 180 124

90 45 2010 2011 2010 12 2010 2011 2010 2011 2011 12 31 6 30 2010........................ 3,511 3,511 6,982 10,940...... 11,187 3,116 8,071 20,489 16................... 8% 9% 8% 5% 17..................... 56% 57% 55% 51%................ 185 200 168 161 185 2011 2010 12 314.7% 2011 12 31 3.8% 2010 12 31 3%2011 12 312.5% 2010 12 31 8 2011 12 315 125

12 31 2011 2010 2009.............................................. 9,065 8,632 9,551............................................ 2,783 2,757 3,093............................................ 5,139 4,861 5,380........................................ 1,143 1,014 1,078.................................... 674 847 1,194............................................ 157 245 384............................................ 344 423 642........................................ 173 179 168.............................................. 267................................................ 714 957 1,798............................................ 316 404 622.......................................... 513 811 1,548.................................................. 11,282 11,651 14,980 % 18 % 18 % 18.............................................. 17.1 15.0 14.5.................................... 8.5 9.1 10.1.............................................. 4.6................................................ 3.8 4.7 7.4............................................ 2.5 3.0 4.1.......................................... 8.3 9.5 12.6.................................................. 11.4 10.7 11.1 185 188 152 2011 133 89 133 EL 2011 2010 127 2011 24,130 5% 16,49068% 2010 16% 12% 20112010 2% 33% 3,460 81% 2010 1,300 126

90%98% 4% 11,210 2010 5422% 2011 10% 3,090 75% 19 2011 12 31........... 126,926 2,678 263 35 129,902........... 7,707 150 350 1 8,208............... 20,922 20,922 20.................... 231,594 37,182 39,171 1,502 309,449....... 33,199 538 564 8 34,309..................... 103,163 8,497 18,188 639 130,487..................... 49,021 20,699 5,186 619 75,525..................... 46,211 7,448 15,233 236 69,128 20...... 7,176 4,728 830 192 12,926....... 123 123..................... 6,148 4,728 767 191 11,834..................... 55 63 1 119..................... 850 850 20........................ 279,557 45,858 18,627 2,337 346,379........... 609,081 245,352 194,661 28,210 20,009 41,739 (17,636) 1,121,416..................... 144,815 28,813 6,722 568 39 155 (125) 180,987 21.................... 464,266 216,539 187,939 27,642 19,970 41,584 (17,511) 940,429......................... 340,173 24,757 22,139 3,532 2,233 392,834......... 58,627 3,348 3,144 104 65,223..................... 281,546 21,409 18,995 3,428 2,233 327,611................. 14,365 12,587 7,931 536 2,524 1,479 (1,614) 37,808................... 14,317 12,587 7,931 536 2,522 1,467 (1,614) 37,746....... 48 2 12 62......................... 11,956 6,526 12,379 1,193 421 517 32,992................... 1,789 4,075 4,629 504 10 3 11,010............... 10,167 2,451 7,750 689 411 514 21,982..................... 1,649,457 379,818 296,351 37,538 22,954 45,968 (19,250) 2,412,836 127

8 8 8 19 2010 12 31........... 51,682 3,100 2,461 140 57,383........... 5,631 101 340 6,072............... 19,057 19,057 20.................... 256,576 41,620 43,278 2,492 343,966....... 23,663 1,000 957 25,620..................... 141,837 8,254 17,222 955 168,268..................... 55,534 9,980 4,865 77 70,456..................... 35,542 22,386 20,234 1,460 79,622 20...... 8,377 4,640 6,536 40 19,593....... 158 1 159..................... 7,310 4,368 6,530 40 18,248..................... 38 272 5 315.................... 871 871 20........................ 199,920 45,042 13,980 1,815 260,757........... 646,296 250,393 183,165 37,231 22,729 47,064 (20,241) 1,166,637..................... 166,943 33,051 6,982 1,152 108 193 (158) 208,271 21.................... 479,353 217,342 176,183 36,079 22,621 46,871 (20,083) 958,366......................... 345,265 23,253 17,168 4,479 16 2,591 392,772......... 52,423 2,702 1,882 115 7 57,129..................... 292,842 20,551 15,286 4,364 16 2,584 335,643......................... 9,752 6,067 12,212 1,510 513 317 30,371................... 2,074 3,305 4,227 493 9 8 10,116............... 7,678 2,762 7,985 1,017 504 309 20,255..................... 1,542,556 374,216 279,140 47,707 23,258 49,972 (20,241) 2,296,608 185 90 90 90 2011 12 31 2002010 227 2010 128

8 2011 12 31........................... 1,990 1,107 2,319 1,165 10,216 3,212 20,009 2010 12 31........................... 2,516 1,158 2,092 1,318 12,751 2,894 22,729 8 12 31 2011 2010...................................................................... 39 108...................................................................... 19,970 22,621.................................................................... 13,951 17,258.............................................................. 5,855 5,267................................................................ 164 96 185 20,009 22,729 29 30 59 60 89 90 179 180 2011 12 31 8............. 14,239 3,680 1,727 223 140 20,009........................ 39 39........................ 14,200 3,680 1,727 223 140 19,970.................... 1,563 644 307 8 2 2,524................ 1,563 644 307 7 1 2,522.......... 1 1 2............................ 225 80 37 22 57 421...................... 7 2 1 10............................ 218 78 37 21 57 411 16,027 4,404 2,071 253 199 22,954 2010 12 31 8............. 15,576 4,272 2,238 482 161 22,729........................ 108 108........................ 15,468 4,272 2,238 482 161 22,621............................ 278 123 57 26 45 529...................... 7 1 1 9............................ 271 123 57 25 44 520 185 188 15,854 4,395 2,295 508 206 23,258 2011 129

133 2011 12 31 2010 12 31............................. 8,133 4,401 19,125 31,659 7,690 4,339 23,406 35,435....................... 5,916 3,560 15,932 25,408 5,244 3,381 18,137 26,762....................... 2,217 841 3,193 6,251 2,446 958 5,269 8,673....................... 2,793 9 3,248 6,050 2,877 12 2,401 5,290....................... 3,432 461 3,376 7,269 4,125 186 2,501 6,812......................... 249 491 740 17 565 582............................. 113 2 132 247 51 7 58 14,720 4,873 26,372 45,965 14,760 4,537 28,880 48,177.................................................... 4.8 5.0 2011 2010...................................................................... 11,464 10,692...................................................................... 447 420.............................................................. 448 679................................................................ 2,655 1,866.................................................................... 28,475 31,990.................................................................. 2,476 2,530...................................................................... 45,965 48,177.................................................. 7,670 7,482................................................................ 2,311 1,657................................................................ 5,359 5,825 2011 2010 2011 12 31 4602010481 2011 12 31 28562% 201032066% 2011 12 31 1782010 220 2011 12 31 28% 2010 25% 2011 12 311152010107 25% 2010 22% 2011 12 31 60201048 2011 12 31 30% 201028% 41% 201039% 32% 201031% 130

2006 2009 2011 2010 18 12 131

12 6 60 13 7 2011 IFRS 2011 12 31 86% 201085% 160 2010182 22 % 2011 12 31.................. 10,265 12,829 1,494 24,588 19,540 44,128 5,088 12 2010 12 31.................. 10,693 14,053 2,286 27,032 23,902 50,934 4,311 8 185 2011 12 31.............................................. 121 112 14 246 2010 12 31.............................................. 123 115 20 258 2011 2011 12 31 56% 201053% 132

133 188 2011 6.17 2011 2011 2011 2011 CRR9 CRR10 EL9 EL10 90 193 90 CRR 9 CRR10 EL9 EL10 191 90

129 2010 12 31 2010 12 31 12 31 2011 2010 12 31................................................. 27,211 28,091................................................ 7,895 11,200.................................................................... 509 838.............................................................. 61 63.................................................................. 6,688 9,638................................................................ 637 661.............................................. 6,478 7,580.................................................................................................................................. 30 33.................................................................. 6,310 7,475................................................................ 138 72 12 31............................................... 41,584 46,871 8 2011 12 31 2010 12 31................................................... 155 155 193 193................................................... 16,554 25,030 41,584 16,058 30,813 46,871............................................... 2,473 24,070 26,543 2,443 29,997 32,440......................................... 12,898 960 13,858 12,499 816 13,315........................................... 1,183 1,183 1,116 1,116 185 16,709 25,030 41,739 16,251 30,813 47,064 134

2011 12 31 8 23......................... 10,490 519 963 2,187 1,832 563 16,554 24................................... 429,088 157,727 123,687 25,402 148,096 57,386 941,386 23............................... 1,261 85 106 238 20,864 2,476 25,030 25............................... 427,827 157,642 123,581 25,164 127,232 54,910 916,356............................ 439,578 158,246 124,650 27,589 149,928 57,949 957,940.................................... 5,242 581 782 1,714 7,181 2,011 17,511.................................. 3,754 288 505 1,250 416 324 6,537.................................. 1,488 293 277 464 6,765 1,687 10,974.................................... 434,336 157,665 123,868 25,875 142,747 55,938 940,429 % % % % % % %.......... 35.8 55.5 52.4 57.2 22.7 57.4 39.5.......... 0.3 0.2 0.2 1.8 4.6 2.9 1.2.......... 1.2 0.4 0.6 6.2 4.8 3.5 1.8 2010 12 31 8 23......................... 9,400 637 1,185 2,167 1,886 783 16,058 24................................... 432,062 140,683 108,505 24,111 197,816 59,214 962,391 23............................... 1,994 23 139 362 25,954 2,341 30,813 25............................... 430,068 140,660 108,366 23,749 171,862 56,873 931,578............................ 441,462 141,320 109,690 26,278 199,702 59,997 978,449.................................... 5,663 629 959 1,652 9,170 2,010 20,083.................................. 3,563 345 629 1,163 390 367 6,457.................................. 2,100 284 330 489 8,780 1,643 13,626.................................... 435,799 140,691 108,731 24,626 190,532 57,987 958,366 % % % % % % %.......... 37.9 54.2 53.1 53.7 20.7 46.9 40.2.......... 0.5 0.2 0.3 2.0 4.4 2.8 1.4.......... 1.3 0.4 0.9 6.3 4.6 3.4 2.1 185 135

2011 1 1.................................................... 158 6,457 13,626 20,241....................................................... (16) (1,633) (10,831) (12,480)......................................... 191 1,235 1,426................................................. (16) 1,931 9,590 11,505 26.............................................. (1) (409) (2,646) (3,056) 12 31.................................................. 125 6,537 10,974 17,636........................................... 6,537 10,974 17,511..................................................... 694 9,066 9,760............................................... 5,231 1,820 7,051................................................. 612 88 700 % % % % 27,28.......................................... 0.09 0.71 1.20 1.67 2010 1 1.................................................... 107 6,494 19,048 25,649....................................................... (9) (2,441) (16,850) (19,300)......................................... 2 143 875 1,020................................................. 12 2,613 10,923 13,548............................................... 46 (352) (370) (676) 12 31.................................................. 158 6,457 13,626 20,241........................................... 6,457 13,626 20,083..................................................... 615 11,678 12,293............................................... 5,274 1,863 7,137................................................. 568 85 653 % % % % 27,28.......................................... 0.11 0.70 1.49 1.91 185 136

2011 2010 2009 2008 2007 1 1...................... 20,241 25,649 23,972 19,212 13,585................................... (12,480) (19,300) (24,840) (17,955) (12,844)............................... (10,431) (16,458) (22,703) (16,625) (11,670)........................... (2,662) (4,163) (4,704) (2,110) (930)....................... (7,769) (12,295) (17,999) (14,515) (10,740)......................... (2,009) (2,789) (1,984) (1,294) (1,163) 5........ (1,137) (1,050) (1,093) (789) (897)....... (392) (1,280) (327) (115) (98)....................... (480) (459) (564) (390) (168) 29.......................... (40) (53) (153) (36) (11)........................... 1,426 1,020 890 834 1,005............................... 1,175 846 712 686 837........................... 86 93 61 19 19....................... 1,089 753 651 667 818......................... 242 156 170 142 157 5........ 135 92 123 76 74....... 20 21 9 6 29....................... 87 43 38 60 54 29.......................... 9 18 8 6 11 30............................ 11,505 13,548 24,942 24,131 17,177............................... 9,318 11,187 19,781 20,950 15,968........................... 4,103 3,461 4,185 5,000 1,840....................... 5,215 7,726 15,596 15,950 14,128......................... 2,114 2,198 4,711 2,879 1,176 5........ 901 909 2,392 1,573 897....... 764 660 1,492 755 152....................... 449 629 827 551 127 29.......................... 73 163 450 302 36............................... (3)........................... (3,056) (676) 685 (2,250) 289 12 31.............................. 17,636 20,241 25,649 23,972 19,212............................. 125 158 107 63 7............................. 6,537 6,457 6,494 3,284 2,699............................. 10,974 13,626 19,048 20,625 16,506 12 31.............................. 17,636 20,241 25,649 23,972 19,212 % % % % %............................. 0.68 0.66 0.70 0.34 0.27............................. 1.15 1.39 2.07 2.16 1.65 12 31.............................. 1.83 2.05 2.77 2.50 1.92 185 137

2011 1 1...... 5,740 629 959 1,669 9,234 2,010 20,241................... (2,781) (210) (554) (187) (6,830) (1,918) (12,480)............... (1,685) (116) (391) (172) (6,591) (1,476) (10,431)........... (25) (6) (2) (2,545) (84) (2,662) 5...... (1,660) (116) (385) (170) (4,046) (1,392) (7,769)......... (1,066) (94) (161) (15) (233) (440) (2,009)........... (554) (64) (120) (4) (100) (295) (1,137)....... (265) (6) (13) (10) (83) (15) (392) 7...... (247) (24) (28) (1) (50) (130) (480) 29.......... (30) (2) (6) (2) (40)........... 572 47 185 102 132 388 1,426............... 525 31 168 53 101 297 1,175........... 21 4 3 39 19 86 5...... 504 27 165 53 62 278 1,089......... 44 16 12 49 30 91 242........... 19 16 8 2 8 82 135....... 7 1 8 4 20 7...... 18 3 47 14 5 87 29.......... 3 5 1 9 30............ 1,902 117 274 292 7,050 1,870 11,505............... 610 77 215 124 6,887 1,405 9,318........... 98 (10) 5 42 3,899 69 4,103 5...... 512 87 210 82 2,988 1,336 5,215......... 1,277 37 55 146 122 477 2,114........... 416 57 35 25 42 326 901....... 498 9 150 48 59 764 7...... 363 (20) 11 (29) 32 92 449 29.......... 15 3 4 22 41 (12) 73........... (141) (2) (82) (145) (2,347) (339) (3,056) 12 31.............. 5,292 581 782 1,731 7,239 2,011 17,636............. 50 17 58 125............. 3,754 288 505 1,250 416 324 6,537 31............ 1,488 293 277 464 6,765 1,687 10,974 12 31.............. 5,292 581 782 1,731 7,239 2,011 17,636 % % % % % % %............. 0.85 0.18 0.41 4.53 0.28 0.56 0.68 31............ 0.34 0.19 0.22 1.68 4.51 2.91 1.15 12 31.............. 1.19 0.37 0.63 6.21 4.79 3.47 1.83 138

2010 1 1...... 6,227 804 996 1,393 13,676 2,553 25,649................... (3,001) (265) (678) (386) (12,601) (2,369) (19,300)............... (1,447) (150) (561) (375) (12,070) (1,855) (16,458)........... (49) (1) (10) (4,027) (76) (4,163) 5...... (1,398) (149) (551) (375) (8,043) (1,779) (12,295)......... (1,539) (109) (110) (11) (507) (513) (2,789)........... (385) (90) (46) (10) (174) (345) (1,050)....... (1,022) (18) (18) (194) (28) (1,280) 7...... (132) (1) (46) (1) (139) (140) (459) 29.......... (15) (6) (7) (24) (1) (53)........... 287 39 188 57 182 267 1,020............... 251 32 168 53 134 208 846........... 29 4 3 30 27 93 5...... 222 28 165 53 104 181 753......... 33 7 7 4 46 59 156........... 16 7 5 2 19 43 92....... 6 11 4 21 7...... 11 2 2 16 12 43 29.......... 3 13 2 18 30............ 2,532 137 428 623 8,304 1,524 13,548............... 1,263 78 297 226 8,138 1,185 11,187........... 153 (17) 11 46 3,189 79 3,461 5...... 1,110 95 286 180 4,949 1,106 7,726......... 1,080 72 146 304 269 327 2,198........... 395 21 100 165 25 203 909....... 360 (7) 12 117 178 660 7...... 325 58 34 22 66 124 629 29.......... 189 (13) (15) 93 (103) 12 163........... (305) (86) 25 (18) (327) 35 (676) 12 31.............. 5,740 629 959 1,669 9,234 2,010 20,241............. 77 17 64 158............. 3,563 345 629 1,163 390 367 6,457 31............ 2,100 284 330 489 8,780 1,643 13,626 12 31.............. 5,740 629 959 1,669 9,234 2,010 20,241 % % % % % % %............. 0.81 0.24 0.57 4.43 0.20 0.61 0.66 31............ 0.48 0.20 0.30 1.86 4.40 2.74 1.39 12 31.............. 1.29 0.44 0.87 6.29 4.60 3.35 2.05 185 139

2011 2010........................... (16) (16) 12 12........................... 141 9,177 9,318 180 11,007 11,187......................... 104 3,999 4,103 137 3,324 3,461 5.................... 37 5,178 5,215 43 7,683 7,726..................... 1,703 411 2,114 2,190 8 2,198....... 572 329 901 997 (88) 909..... 768 (4) 764 680 (20) 660 7.................... 363 86 449 513 116 629....................... 87 2 89 243 (92) 151................... 1,915 9,590 11,505 2,625 10,923 13,548 185 2011 2010 2009 2008 2007......................... 1,915 2,625 4,458 2,064 796............................... 2,904 3,617 5,173 2,742 1,533..................... (798) (847) (581) (565) (608)......................... (191) (145) (134) (113) (129)......................... 9,590 10,923 20,484 22,067 16,381............. 10,825 11,798 21,240 22,788 17,257......................... (1,235) (875) (756) (721) (876)......................... 11,505 13,548 24,942 24,131 17,177................................... (16) 12 70 54................................... 11,521 13,536 24,872 24,077 17,177 12 31 8.............................. 41,739 47,064 30,845 25,422 19,594................................. 17,636 20,241 25,649 23,972 19,212 185 140

2011......... 1,262 18 67 199 243 126 1,915............... 1,670 79 207 328 398 222 2,904..... (378) (41) (114) (80) (111) (74) (798)......... (30) (20) (26) (49) (44) (22) (191)......... 640 99 207 93 6,807 1,744 9,590............. 1,181 126 366 147 6,894 2,111 10,825......... (541) (27) (159) (54) (87) (367) (1,235)......... 1,902 117 274 292 7,050 1,870 11,505................... (11) (5) (16)................... 1,913 117 274 292 7,055 1,870 11,521 2011 12 31 8.............. 11,819 608 1,070 2,445 22,758 3,039 41,739................. 5,292 581 782 1,731 7,239 2,011 17,636 2010......... 1,445 45 198 502 348 87 2,625............... 1,874 111 311 561 580 180 3,617..... (394) (54) (84) (55) (196) (64) (847)......... (35) (12) (29) (4) (36) (29) (145)......... 1,087 92 230 121 7,956 1,437 10,923............. 1,339 119 389 174 8,102 1,675 11,798......... (252) (27) (159) (53) (146) (238) (875)......... 2,532 137 428 623 8,304 1,524 13,548................... 2 2 8 12................... 2,530 137 428 621 8,296 1,524 13,536 2010 12 31 8.............. 11,500 665 1,324 2,549 27,902 3,124 47,064................. 5,740 629 959 1,669 9,234 2,010 20,241 185 2011 2010 2009 2008 2007 % % % % %.......... 1.34 1.65 2.92 2.54 2.09................................ (0.15) (0.12) (0.10) (0.09) (0.12)..................... 1.19 1.53 2.82 2.45 1.97................. 1.14 2.08 2.71 1.75 1.36 141

% % % % % % % 2011............. 0.59 0.11 0.38 1.46 4.01 3.54 1.34................... (0.14) (0.03) (0.15) (0.38) (0.07) (0.61) (0.15)......... 0.45 0.08 0.23 1.08 3.94 2.93 1.19..... 0.52 0.11 0.31 0.32 3.74 2.39 1.14 2010............. 0.74 0.15 0.66 2.71 4.02 3.41 1.65................... (0.07) (0.03) (0.20) (0.23) (0.09) (0.51) (0.12)......... 0.67 0.12 0.46 2.48 3.93 2.90 1.53..... 0.71 0.19 0.53 1.32 5.89 4.01 2.08 3.77% 0.07% 3.51% 8 2010 12 31 2010 12 31 2011 12 31 2011 12 31 % %................... 11,500 (211) 11,289 530 11,819 3% 5%................... 665 3 668 (60) 608 (9%) (9%)........... 1,324 (55) 1,269 (199) 1,070 (19%) (16%)............. 2,549 (6) 2,543 (98) 2,445 (4%) (4%)................. 27,902 (19) 27,883 (5,125) 22,758 (18%) (18%)............... 3,124 (299) 2,825 214 3,039 (3%) 8% 185 47,064 (587) 46,477 (4,738) 41,739 (11%) (10%) 20112010 2011 115 2010 15%16% 2011 2010 417 2010 12 3111% 2010 12% 137 17% 22 2011 4%2010 12 31 29 2010 14% 142

118 2010 12 31 5% 2010 36% 9.49 2010 10% 2010 2010 12 31 9% 8,800 20104% 22% 5.73 2010 2011 11 201016% 5% 2011 35% 4.75 2011 2010 2010 12 31 4% 2011 63% 1.83 16% 73 36% 2.42 2010 2011 201018% 228 21% 23 2011 20108% 2010 36% 4.63 143

57 2011 12 31................................. 125,702 46,532 38,381 1,761 60,794 4,891 278,061 25%............................. 9,898 5,364 2,383 58 3,576 282 21,561 25% 50%........................... 31,601 19,643 9,978 336 10,593 1,350 73,501 51% 75%........................... 52,656 17,748 18,006 895 25,138 2,221 116,664 76% 90%........................... 23,919 2,884 7,624 304 13,590 876 49,197 91% 100%.......................... 7,628 893 390 168 7,897 162 17,138 100%................ 3,275 484 295 174 12,503 102 16,833........................... 2,821 466 37 135 10,566 24 14,049............................. 128,977 47,016 38,676 1,935 73,297 4,993 294,894 2010 12 31................................. 115,700 43,948 34,674 1,490 66,542 5,086 267,440 25%............................. 9,531 4,815 2,082 58 3,779 282 20,547 25% 50%........................... 27,740 15,984 8,733 235 10,973 1,272 64,937 51% 75%........................... 46,395 19,574 15,912 634 25,750 2,310 110,575 76% 90%........................... 23,044 2,569 7,661 409 16,091 1,003 50,777 91% 100%.......................... 8,990 1,006 286 154 9,949 219 20,604 100%................ 4,156 18 176 404 12,327 173 17,254........................... 3,705 15 45 152 10,539 88 14,544............................. 119,856 43,966 34,850 1,894 78,869 5,259 284,694 144

100% 2011 12 31 CRR/EL1 7....................... 33,376 25,202 10,934 746 10,238 4,841 85,337................................. 5,730 12,552 2,973 631 97 2,136 24,119............................... 24,547 11,734 6,929 65 8,506 1,706 53,487 (A)............................ 3,099 916 1,032 50 1,635 999 7,731 A..................... 1,775 591 280 39 311 559 3,555 CRR/EL8 10...................... 3,768 4 75 310 1,057 326 5,540................................. 434 2 10 55 135 127 763............................... 1,413 2 23 74 521 196 2,229 (B)............................ 1,921 42 181 401 3 2,548 B..................... 1,083 26 89 246 1 1,445......................... 37,144 25,206 11,009 1,056 11,295 5,167 90,877 2010 12 31 CRR/EL1 7....................... 32,192 24,463 9,829 1,015 8,009 4,341 79,849................................. 6,153 10,693 2,600 722 388 2,004 22,560............................... 22,904 12,227 6,972 65 6,837 1,574 50,579 (C)............................ 3,135 1,543 257 228 784 763 6,710 C..................... 1,800 955 124 149 288 310 3,626 CRR/EL8 10...................... 2,810 3 113 271 1,241 403 4,841................................. 249 1 8 40 60 99 457............................... 1,164 2 41 14 533 255 2,009 (D)............................ 1,397 64 217 648 49 2,375 D..................... 867 44 206 430 29 1,576......................... 35,002 24,466 9,942 1,286 9,250 4,744 84,690 145

2011 12 31 CRR/EL8 10.......................... 8,715 512 1,098 2,253 2,448 2,538 17,564..................................... 5,583 349 795 1,695 801 1,546 10,769................................... 1,765 63 147 60 441 602 3,078 (A)................................ 1,367 100 156 498 1,206 390 3,717 A......................... 558 55 76 103 541 214 1,547 2010 12 31 CRR/EL8 10.......................... 11,962 675 1,256 2,336 2,947 1,902 21,078..................................... 8,363 489 933 1,779 1,059 843 13,466................................... 1,903 51 142 60 670 854 3,680 (B)................................ 1,696 135 181 497 1,218 205 3,932 B......................... 627 81 80 103 422 114 1,427 CRR8 10 146

190 2011 12 31....................................... 25,896 34,892 42,586 9,337 14,132 19,516 146,359..................................... 31,515 1,365 6,927 32 978 1,238 42,055 (A).................................. 146 50 445 784 114 1,539 A........................... 104 50 207 702 88 1,151......................................... 57,557 36,307 49,958 9,369 15,894 20,868 189,953 2010 12 31....................................... 31,225 34,336 32,631 10,416 16,829 22,436 147,873..................................... 50,316 154 9,558 188 3,101 4,937 68,254 (B).................................. 91 28 959 3 1,081 B........................... 64 24 956 1,044......................................... 81,632 34,490 42,217 10,604 20,889 27,376 217,208 ISDA ISDA 107 15 19 21 152 147

37 41 12 31 32 2011 2010................... 420 1,155................... 64 104....................... 17 2 185 501 1,261 2010 2011 122 2011 12 31 2010100% 2011 2010.................................................... 316 459.................................................................. 3,568 2,327.......................................................... 28,048 21,238.................................................................. 1,078 2,025........................................................ 49,402 46,988.................................................... 1,810 2,720 84,222 75,757 148

100% 2010 100% A A- 2010A BBB+ ABS MBS CDO Solitaire Funding Limited Solitaire SIC Solitaire SIC43 43 IAS 32IAS 39 2 16 2011 2011 2010 32010 6451 354 2010471 188 149

2011 12 31 2010 12 31 33 Alt-A 33 Alt-A ABS..................... 65.6 6.9 73.9 8.5................... 3.0 0.2 10.8 0.3 34............................ 54.6 5.7 54.7 7.1 34.......................... 2.0 0.2 2.2 0.2....................... 6.0 0.8 6.2 0.9............. 1.2 0.8 1.6 1.2................. 66.8 7.7 75.5 9.7........... (1.9) (0.2) (8.3) (0.4) 64.9 7.5 67.2 9.3............................. 3.6 4.9................... 0.2 0.3....................... 3.4 4.6 68.5 7.5 72.1 9.3.. 70.4 7.7 80.4 9.7 185 SPE Solitaire Solitaire12 2011 2010 Solitaire 35 Solitaire 35 1 1................ (4,102) (2,306) (6,408) (7,349) (4,864) (12,213)............... 622 (137) 485 2,175 1,543 3,718......................... 383 26 409 444 444 36.............. 313 313 531 531............................... 162 183 345 540 187 727............................... (150) (140) (290) 88 297 385 12 31.............. (3,085) (2,061) (5,146) (4,102) (2,306) (6,408) 185 Solitaire 150

Mazarin 2,6002010 SICSolitaire SICSolitaire 12 31 2011 2010.............................................. (2,701) (2,666).................................... (2,061) (2,306).......................................... 2,286 2,246...................................... 154 254............................................ 26.................................. 313 531 2 188 2011 6 30 9 4 2011 12 31 2011 6 2011 12 31 24 201031 102010 11 2011 12 31 25% 9AA AAA201038% 17 27201028 12201015 2011 151

33 37 38 39 2011 12 31.................................... 896 2,134 598 3,628 2,367 6,222 275 5,947.................................... 733 733 487 1,684 1,684 MBS MBS CDO........................ 163 2,134 598 2,895 1,880 4,538 275 4,263 Alt-A................................ 190 3,516 166 243 4,115 2,827 8,610 100 8,510.................................... 114 114 119 119 MBS........................................ 76 3,516 166 243 4,001 2,827 8,491 100 8,391 MBS........................................ 38 26,152 1,813 28,003 26,498 26,498...................................... 670 3,286 978 4,934 2,098 5,702 5,702.................................... 314 314 309 309 MBS........................................ 356 3,286 978 4,620 2,098 5,393 5,393 MBS MBS CDO........................ 300 7,240 107 1,816 9,463 5,795 11,222 11,222 2,094 42,328 1,979 107 3,635 50,143 13,087 58,254 375 57,879 ABS ABS CDO........................... 362 5,566 347 6,275 4,324 7,112 782 6,330 ABS ABS CDO........................... 179 4,665 153 4,997 4,114 6,681 199 6,482 ABS ABS CDO........................... 1,477 2,044 94 1,818 5,433 1,473 7,539 1,391 6,148 4,112 54,603 1,979 201 5,953 66,848 22,998 79,586 2,747 76,839 152

37 38 39 2010 12 31.................................... 1,297 2,565 652 4,514 2,763 7,427 348 7,079.................................... 1,078 1,078 632 2,233 2,233 MBS MBSCDO........................ 219 2,565 652 3,436 2,131 5,194 348 4,846 Alt-A................................. 180 4,545 191 270 5,186 3,651 10,065 100 9,965.................................... 96 96 108 108 MBS........................................ 84 4,545 191 270 5,090 3,651 9,957 100 9,857 MBS........................................ 657 21,699 2,032 24,388 6 23,739 23,739...................................... 1,075 4,024 1,111 6,210 2,669 6,995 6,995.................................... 417 417 424 424 MBS........................................ 658 4,024 1,111 5,793 2,669 6,571 6,571 MBS MBS CDO........................ 546 8,160 111 1,942 10,759 6,441 12,625 421 12,204 3,755 40,993 2,223 111 3,975 51,057 15,530 60,851 869 59,982 ABS ABS CDO........................... 392 5,418 414 6,224 3,886 7,148 788 6,360 ABS ABS CDO........................... 163 5,178 150 5,491 4,251 7,161 100 7,061 ABS ABS CDO........................... 1,936 3,103 6,017 1,710 12,766 2,526 15,497 7,765 7,732 6,246 54,692 2,223 6,128 6,249 75,538 26,193 90,657 9,522 81,135 185 156 153

2011 4,20020104,800 2010 12 31 50020105,400 Alt-A 2011 Alt-A 2010 6.87 20108.84 3.44 20104.5 3.182010 4.5 2011 12 31 9% 4 AA AAA20109% 5 952010108 49 2010522011 2011 3,600 2010500 2011 2011 12 31 2011 12 31 BBB- BBB- BBB- 40 41 2011 12 31 BBB-.... 4,936 873 (87) 786 BBB-.... 1,552 370 (217) 153 6,488 1,243 (304) 939 2010 12 31 BBB-.... 5,179 876 (88) 788 BBB-.... 2,290 648 (431) 217 185 7,469 1,524 (519) 1,005 154

155 7,600 20109,400 1.782010 800 350 10% 2011 12 31 2010 2011 12 31 18 CDPC 2011 12 31 44201049 420102 120101 2011 12 31 2010 152 2011 12 31 37201051 33201046 2011 12 31 132010 28 19201018

2011 2011 12 31 2010 12 31 42 42 42 42.......................... 2,795 253 3,048 3,337 298 3,635.................. 17 22 39........................ 445 126 571 1,066 185 1,251 3,240 379 3,619 4,420 505 4,925............ 3,120 328 3,448 4,199 393 4,592........ 120 51 171 221 112 333 185 2005 2007 240 HSBC Securities (USA) Inc. HSI HSI370 44 2011 12 31 2.37 20102.62 2011 1.1320101.15 156

2011................................................................................................................................................... 2011 188 2011 2011 2011 2% 2% 75% 8% 2011 2011 2011 5 10 12 4,8906,3203 LTRO 2012 2 5267 157

2011 2011 220 90% 2011 11 16.510 30 3 3 12 1 5 5 2011 12 31......................... 47,659 59,096 3,578 11,048 997......................... 914,762 252,226 72,993 20,508 1,094..................... 265,192....... 7,066 930 9,789 39,915 57,295......................... 340,394 394 497 2,858 1,007................... 117 48,465 27,520 57,507 7,019......................... 6 528 1,834 9,616 47,715 43...... 3,108 1,721 1,045 211 150..................... 25,452 28,137 5,845 2,023 1,377 1,603,756 391,497 123,101 143,686 116,654........... 355,366 65,245 94,120 111,061 29,113............... 12,460 7,585 12,107 5,899 1,273 1,971,582 464,327 229,328 260,646 147,040 2010 12 31......................... 42,481 70,072 8,393 7,949 1,346......................... 881,575 244,501 89,557 23,209 3,483..................... 300,703....... 7,421 3,786 7,825 35,583 61,575......................... 255,046 531 1,143 2,065 942................... 1,320 48,062 41,939 62,148 16,255......................... 34 1,491 1,863 10,001 51,293..................... 24,834 24,378 7,944 2,184 824 1,513,414 392,821 158,664 143,139 135,718........... 524,394 51,732 14,023 11,964 400............... 18,491 9,233 12,231 7,082 2,399 2,056,299 453,786 184,918 162,185 138,517 185 158

86% 2011 12 31 44 2011 2010 2011 2010 45............................. 99.8 103.0 116.2 111.1............................. 103.4 109.7 118.1 111.3............................. 98.4 102.6 109.4 103.2............................. 100.8 106.0 112.5 108.2 45............................. 75.0 70.3 122.9 144.6............................. 78.9 70.3 144.6 165.4............................. 70.3 55.5 116.4 132.6............................. 75.9 63.6 124.0 148.8 46............................. 85.7 98.3 117.7 108.5............................. 89.5 104.3 128.3 118.5............................. 79.8 94.2 108.5 105.3............................. 84.6 98.0 118.9 112.3 47............................. 86.4 89.1 117.6 119.6............................. 90.2 89.1 120.4 126.5............................. 86.4 85.7 116.2 118.1............................. 88.9 87.0 117.9 122.2 185 61% 201062% 159

188 100% 2011 12 31 510 2010650 3 12 CP 100% 2012 120 2011 2011 12 31 2010 3................. 5.1 5.1 12................ 9.7 10.8 48... 0.5 0.5........... 4.0 4.3 185 IFRS 37 37 173 3,30020103,100 160

154.9 90 2011 12 31 2010 166.1................. 1,253.9 1,227.7................. 112.8 110.6................. 131.0 145.4............. 85.7 88.1...................... 166.1 154.9 1,749.5 1,726.7 2011 12 31 2010................. 940.4 958.4................. 181.0 208.3.... 21.2 19.5 12 31 1,142.6 1,186.2 404 403 405 2011 2010 2011 2010 2011 2010 2011 2010 49........................ 12.8 8.4 0.9 3.9 0.7 0.2.................. 0.7 0.7 0.3 0.4 0.5 0.1 50........................ 22.1 25.6 51........................ 1.4 1.4 52............................ 3.4 4.2 5.7 5.3 1.8 2.0 1.9 1.4 53................... 7.5 8.4 6.5 4.9 3.8 3.8 2.5 2.4 185 161

2011 2011 53 2010 3 20112010 50 3 3 12 1 5 5 2011 12 31........... 1,174 17 1,428..... 281 3,530 4,987 28,988........................ 1,067.................. 35 104 1,975 1,490........................ 216 649 3,461 27,558.................... 1,460 1,067 3,166 4,300 11,851 58,036........................ 1,810............. 49,402 52,279 3,166 4,300 11,851 58,036 2010 12 31........... 163 1,332 1,453..... 219 658 5,810 24,215........................ 827.................. 35 106 2,110 1,559........................ 219 657 3,504 28,670.................... 1,782 827 2,418 2,753 12,877 54,444........................ 2,720............. 46,988 50,535 2,418 2,753 12,877 54,444 162

2011............................................................................................................ 165 VAR 171 2011 2011 2011 2011 3 2011.......... VAR VAR 54................. VAR VAR 55................. VAR............ VAR VAR 56 185 188 163

2011 2010 57 12 31................. 367.0 371.6....................... 301.6 357.5....................... 231.5 205.3....................... 404.3 556.3 185 2011 2010 113 1% 2011 450 400 350 300 2011 2010...................... 42.4 49.3 58........................... 35.1 37.8............. 30 40 30 40 250 200 11 1 11 3 11 5 11 8 11 10 11 12 59 2011 2010 45 40 35 30....................... 42 41........................ 23 9 45 40 35 30 41 40 37 32 25 25 23 20 20 17 15 15 15 15 12 10 10 6 4 4 5 5 3 3 2 3 2 1 0 0-90 -80-70 -60-50 -40-30 -20-10 0 10 20 30 40 50 60 70 80 90 100 110 120 150 160-30 -20-10 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 440 450 185 164

60 61 62 2011 12 31...... 18.6 49.4 7.4 75.2 (32.3) 118.3 2010 12 31...... 24.9 49.5 13.0 39.1 (45.6) 80.8 2011............... 16.8 54.2 8.0 57.3 (34.4) 101.8 2010............... 27.2 51.6 9.2 62.0 (36.5) 113.4 2011............... 7.6 30.1 2.5 34.7 62.2 2010............... 8.0 34.7 2.9 33.7 55.0 2011............... 31.9 80.2 17.2 103.2 143.9 2010............... 62.9 88.9 21.6 102.5 212.2 185 2011 12 31 1.18320108,080 2011 12 31 6602010 1,230 2011 2011 2011 12 31 3.89 20102.99 3.2520102.64 2011 12 31 23 201022 2011 2010 63............ 3.0 2.8................. 0.2 0.5 64.... 1.1 1.0............... 2.9 3.7 185 7.2 8.0 2011 12 3110% 720108 165

149 201 36 2012 1 112 25 2012 15.712011 8.82 19.09 201115.25 65 2012 25................. 209 62 263 232 729 76 1,571 25................. (465) (59) (443) (166) (708) (68) (1,909) 2011 25................. 164 72 191 245 292 (82) 882 25................. (550) (68) (280) (143) (546) 62 (1,525) 185 188 100 166

2011 12 31 100.................... (5,594) (6,178) (5,594)........................... (3.5%) (3.9%) (3.5%) 100.................... 5,397 6,411 5,397........................... 3.4% 4.0% 3.4% 2010 12 31 100.................... (6,162) (6,162) (3,096)........................... (4.2%) (4.2%) (2.1%) 100.................... 6,174 6,174 3,108........................... 4.2% 4.2% 2.1% IFRS 2011 2010................ 35.0 32.6 % %....................... 15 20.................. 73 66............ 12 14 100 100 7 184 2011 2011 2010 12 31.................. 47.7 40.4........................ 43.3 56.6........................ 38.2 40.2........................ 48.3 83.2 167

2012 1 112 25 2.6920111.55 2.482011 1.55 65 12 31 2011 25 0 1.................................... (13) 11 4 2 2 3.................................... (161) 33 33 (95) 4 5.................................... (244) 21 47 (176) 25 0 1.................................... 14 (11) (4) (1) 2 3.................................... 127 (27) (27) 73 4 5.................................... 244 (21) (47) 176 2010 25 0 1.................................... (6) 19 11 24 2 3.................................... (56) 75 62 81 4 5.................................... (79) 71 58 50 25 0 1.................................... 6 (19) (11) (24) 2 3.................................... 56 (75) (62) (81) 4 5.................................... 79 (71) (58) (50) 185 168

1 1 5 5 10 10 2011 12 31.......... 316 280 36.......................... 3,568 3,568.................. 28,048 25,373 1,175 279 603 618.......................... 1,078 300 731 47.................. 90,621 232 875 89,514.......................... 231 231.......................... 123,862 25,885 2,350 1,010 603 94,014.............. (2,479) (2,260) (219)........ (21,151) (2,694) (6,423) (6,157) (5,156) (721).......................... (1,067) (1,067).................... (2,613) (1,617) (1,006) 10.......................... (911) (911).......................... (12,450) (776) (774) (2,070) (8,671) (159).................. (82,183) (82,183).................... (1,008) (1,008)................ (123,862) (5,730) (8,814) (8,227) (14,833) (86,258).. (17,945) 6,405 5,749 5,048 743.................... 2,210 (59) (1,468) (9,182) 8,499...................... 2,210 2,151 683 (8,499) 2010 12 31... 459 339 120.......................... 2,327 2,327.................. 21,238 19,351 290 605 992.......................... 2,025 300 900 731 94.................. 92,899 1,785 875 1,164 89,075..... 393 393.......................... 119,341 21,475 1,175 2,354 1,336 93,001.............. (2,932) (2,266) (666)........ (16,288) (7,184) (4,740) (3,509) (855).......................... (827) (827).................... (2,668) (1,664) (1,004).......................... (1,232) (1,232).......................... (13,313) (750) (1,579) (2,140) (8,680) (164).................. (81,331) (7,450) (73,881).................... (750) (750)................ (119,341) (3,016) (10,427) (14,330) (13,193) (78,375).. (15,302) 7,221 4,403 3,409 269.................... 3,157 (2,031) (7,573) (8,448) 14,895...................... 3,157 1,126 (6,447) (14,895) 169

20112011 2011 2011 188 2011 99 170

............. 2011................................................................................................................................ 2011 188 30 2011 DPF 171

2011 66 2011 12 31................. 1,163 21,460 1,227 982 2,094 26,926 DPF 67........... 335 20,109 338 20,782................... 219 58 34 311....................... 517 78 741 1,546 2,882............. 92 1,351 753 207 548 2,951................... 2,508 3,393 476 4,833 11,210 DPF 67, 68........ 21,477 11 21,488................... 25,148 24,853 1,714 982 6,927 59,624 2010 12 31................. 1,679 17,989 789 1,004 2,122 23,583 DPF 67........... 327 17,203 278 17,808................... 565 72 36 2 675....................... 471 31 760 1,622 2,884............. 316 786 408 208 498 2,216................... 2,274 3,235 485 4,502 10,496 DPF 67, 68........ 22,052 22 22,074................... 26,005 21,224 1,296 1,004 6,624 56,153 185 66, 69 2011............... 23 186 8 39 256..................... 17 25 328 370....... 5 29 13 30 29 106..................... 1 16 5 1 23............. 6 48 1 55......... 10 3 25 38............... 7 39 1 7 91 145........... 42 297 55 85 514 993............. 56 (127) (26) (22) (231) (350) 2010............... 78 174 8 3 37 300..................... 15 28 267 310....... 38 29 11 16 22 116.................. 20 4 2 26............. 25 53 2 80......... 3 10 4 18 35............... 20 39 1 9 84 153........... 164 287 56 81 432 1,020............. (169) (117) (25) (13) (201) (525) 172

2009............... 94 160 7 3 23 287..................... 123 14 20 234 391....... 72 22 8 16 22 140.................. 15 4 2 21............. 35 86 121......... 7 9 4 17 37............... 24 32 1 12 58 127........... 355 252 44 117 356 1,124............. (748) (107) (17) (96) (155) (1,123) 185 2011 9 2011 DPF 70 DPF 68 71 2011 12 31........................ 20,520 10,355 2,531 3,398 1,656 20,745 7,843 4,103 7,219 78,370................ 3 24 27.. 1,730 10,101 426 594 206 5,491 7,191 1,515 1,616 28,870.................... 23 1 231 7 89 7 358.................... 15,523 1 1,778 2,540 791 13,732 1,913 4,008 40,286................ 3,244 252 324 264 635 1,291 645 586 1,588 8,829...................... 12 903 441 196 250 42 1,844 PVIF 72........................... 4,092 4,092.............. 384 6 14 188 169 744 28 34 753 2,320........................ 20,916 11,264 2,986 3,782 2,075 21,489 7,871 4,137 12,106 86,626............ 7,813 3,586 11,399............ 435 435.................... 20,782 11,210 2,882 3,262 1,635 21,488 61,259........................ 15 21 6 1 931 974........................ 1,930 1,930........................ 20,797 11,210 2,903 3,268 1,636 21,488 7,813 4,021 2,861 75,997.................... 10,629 10,629 73............. 20,797 11,210 2,903 3,268 1,636 21,488 7,813 4,021 13,490 86,626 173

DPF 70 DPF 68 71 2010 12 31........................ 17,665 9,763 2,615 2,671 2,231 21,511 8,338 3,927 7,157 75,878................ 11 11.. 1,206 9,499 413 523 180 5,961 7,624 1,486 1,452 28,344.................... 53 1 6 229 7 1 4 301.................... 14,068 1,847 1,661 692 14,465 1,804 4,495 39,032................ 2,338 264 354 481 1,348 856 707 636 1,206 8,190...................... 10 760 400 263 432 79 1,944 PVIF 72........................... 3,440 3,440.............. 189 6 21 398 213 565 14 56 712 2,174........................ 17,864 10,529 3,036 3,332 2,876 22,076 8,352 3,983 11,388 83,436............ 8,321 3,379 11,700............ 439 439.................... 17,808 10,496 2,884 2,891 2,456 22,074 58,609........................ 11 20 4 6 1 793 835........................ 2,075 2,075........................ 17,819 10,496 2,904 2,895 2,462 22,074 8,321 3,819 2,868 73,658.................... 9,778 9,778 73............. 17,819 10,496 2,904 2,895 2,462 22,074 8,321 3,819 12,646 83,436 185 66 2011 12 31.............. 34,163 30,126 2,093 2,414 9,574 78,370...... 27 27........ 15,583 5,875 1,155 6,257 28,870.......... 244 114 358.......... 15,531 19,858 617 1,846 2,434 40,286...... 2,805 4,279 321 568 856 8,829............ 746 912 39 19 128 1,844 PVIF 72................. 1,097 2,322 282 65 326 4,092.... 909 946 31 24 410 2,320.............. 36,915 34,306 2,445 2,522 10,438 86,626.. 6,961 4,405 33 11,399.. 435 435.......... 25,795 25,160 1,802 1,079 7,423 61,259.............. 352 408 60 28 126 974.............. 1,200 269 69 13 379 1,930.............. 34,308 30,242 1,964 1,120 8,363 75,997.......... 2,607 4,064 481 1,402 2,075 10,629 73... 36,915 34,306 2,445 2,522 10,438 86,626 174

2010 12 31.............. 36,233 26,278 1,651 2,548 9,168 75,878...... 11 11........ 16,133 5,550 1,106 5,555 28,344.......... 238 50 12 1 301.......... 16,758 17,299 247 2,006 2,722 39,032...... 3,104 3,379 286 542 879 8,190............ 974 770 33 23 144 1,944 PVIF 72................. 1,102 1,734 165 141 298 3,440.... 1,060 743 26 9 336 2,174.............. 39,369 29,525 1,875 2,721 9,946 83,436.. 7,359 4,300 41 11,700.. 439 439.......... 27,475 21,515 1,381 1,169 7,069 58,609.............. 375 298 39 123 835.............. 1,354 289 58 12 362 2,075.............. 36,563 26,402 1,519 1,181 7,993 73,658.......... 2,806 3,123 356 1,540 1,953 9,778 73... 39,369 29,525 1,875 2,721 9,946 83,436 185 2011 12 31 74 75 76 71 2011 12 31................................. 3 3................................. 24 24................. 17,292 9,756 206 1,616 28,870................................... 4 107 111................................. 6,823 3,198 206 795 11,022................................. 10,465 6,451 821 17,737....................... 17,506 175 1,300 18,981.................................. 1 17,980 616 2,708 21,305.......................................................... 50 50............................... 17,963 599 2,520 21,082............................... 1 17 17 138 173................................... 8 343 7 358 77.............................. 897 5,709 635 1,588 8,829 73.............................. 18,198 51,297 1,656 7,219 78,370 175

74 75 76 71 2010 12 31................................. 11 11................................................. 17,123 9,589 180 1,452 28,344................................... 10 119 10 139................................. 6,660 3,281 180 847 10,968................................. 10,453 6,189 595 17,237....................... 16,015 152 908 17,075.................................. 17,830 540 3,587 21,957................................. 10 31 41......................... 36 140 217 393............................... 17,776 391 3,210 21,377............................... 8 9 129 146................................... 7 290 4 301 77.............................. 971 4,665 1,348 1,206 8,190 73.............................. 18,101 48,389 2,231 7,157 75,878 185 2011 12 3165.2% 201065.1% 22.9% 201022.9% 2011 23.2% 201023.9% 78 2011 2010 73 73 % % % %.................. 1,414 0.0 9.6 4.2 25.2 1,491 0.0 8.5 1.5 16.2.................. 175 0.0 6.0 3.2 22.7 642 0.0 6.0 2.1 16.8.................. 538 6.0 12.0 5.3 5.4 532 6.0 12.0 5.5 5.5.................. 20,465 0.0 2.5 0.0 6.9 17,525 0.0 2.5 0.0 5.0.................. 3,849 2.5 4.5 3.3 10.0 2,455 2.5 4.5 1.8 5.9.................. 163 4.5 6.0 6.4 6.5 841 4.5 6.0 6.1 8.5...................... 17,400 2.3 7.8 15,445 2.0 4.0 185 176

PVIF 2011 2010 100.......... 108 (178) 72 (132) 100.......... (115) 191 (86) 131 10%....................... 106 106 76 76 10%....................... (164) (164) (76) (76) 10%....... 31 31 21 21 10%....... (31) (31) (21) (21)................. (30) (75) (31) (74) 172 173 4442010433 2010 80% 99% 2010 2010 188 86.6% 201090.5% 177

2011 12 31.......................... 1 2 3...................... 2,851 168 349 143 3,511...................... 107 107.................................... 2,744 168 349 143 3,404........................................ 32,062 2,716 1,269 196 36,243.......................................................................................... 32,062 2,716 1,269 196 36,243 34,914 2,884 1,620 339 39,757 79...................... 341 348 61 45 795.......................................................... 341 348 61 45 795........................................ 3,198 560 83 29 3,870...................................................... 50 50.................................... 3,148 560 83 29 3,820 3,539 908 144 74 4,665 73.......................... 1 2 3...................... 3,192 516 410 188 4,306...................... 107 107.................................... 3,085 516 410 188 4,199........................................ 35,260 3,276 1,352 225 40,113...................................................... 50 50.................................... 35,210 3,276 1,352 225 40,063 38,453 3,792 1,764 413 44,422 178

2010 12 31.......................... 9 2 11...................... 3,126 88 330 36 3,580...................... 118 1 119.................................... 3,008 88 329 36 3,461........................................ 32,164 1,948 250 158 34,520........................ 10 10.............................. 176 176.................................... 31,988 1,948 240 158 34,334 35,299 2,036 582 194 38,111 79...................... 492 286 75 4 857...................... 10 10.................................... 482 286 75 4 847........................................ 3,443 740 101 82 4,366........................ 31 31.............................. 217 217.................................... 3,226 740 70 82 4,118 3,935 1,026 176 86 5,223 73.......................... 9 2 11...................... 3,618 374 405 40 4,437...................... 128 1 129.................................... 3,490 374 404 40 4,308........................................ 35,607 2,688 351 240 38,886........................ 41 41.............................. 393 393.................................... 35,214 2,688 310 240 38,452 185 39,234 3,062 758 280 43,334 188 2011 12 31.............. 45 858 903............ 782 10 104 3 899 73................. 827 868 104 3 1,802.......... 18 2 9 1 12 42 179

PVIF 2010 12 31.............. 44 716 760............ 997 11 76 12 9 1,105 73................. 1,041 727 76 12 9 1,865.......... 30 8 30 1 10 79 185 2011 12 31 2011 12 31 2010 1 1 5 5 15 15 2011 12 31............................. 742 704 176 13 1,635....................... 2,006 12,243 21,332 25,990 61,571......................... 920 3,262 9,070 15,546 28,798 73.............................. 3,668 16,209 30,578 41,549 92,004 2010 12 31............................. 1,140 1,157 83 76 2,456....................... 2,463 11,178 18,839 21,093 53,573......................... 485 2,557 6,366 10,724 20,132 73.............................. 4,088 14,892 25,288 31,893 76,161 185 DPF 2011 12 31 73 1...................... 191 438 8 637 1 5.................. 595 3 598 5 10................. 548 548 10..................... 2,063 2,063 80........................ 4,416 3,583 21,477 29,476 7,813 4,021 21,488 33,322 180

DPF 2010 12 31 73 1...................... 391 446 11 848 1 5.................. 940 11 951 5 10................. 1,182 1,182 10..................... 2,133 2,133 80........................ 3,675 3,372 22,052 29,099 185 2011 12 31 PVIF 41201034 PVIF PVIF 8,321 3,818 22,074 34,213 2011PVIF 2.43 PVIF 181

PVIF 2011 2010 PVIF PVIF 1 1.......................... 3,440 9,778 2,780 8,580 81.............. 943 737....................... (428) (85) 82...................... 1 20................. (222) 58....................... (103) 19..................... 294 (38)........................... 241 (6) PVIF............ 726 726 705 705....................... 1,057 858........................... (500) (149)................. (96)..................... (74) (336) (45) (216) 12 31........................ 4,092 10,629 3,440 9,778 185 PVIF 2011 2010 % % % % % %............ 2.24 1.47 2.77 3.46 3.10 3.15............ 2.74 8.00 5.95 7.00 11.00 8.00............ 3.45 3.00 2.00 3.76 3.00 2.00 PVIF 2010 2011 PVIF PVIF 12 31 PVIF 2011 2010 100....... 128 231 100....... (91) (190) PVIF 2011 2011 12 31 2010 182

2011 2010 12 31 12 31 2011 20%............. (135) (135) (135) (135) 20%............. 135 135 135 135 10%... (100) (100) (100) (100) 10%... 110 110 110 110 50%........... (349) (349) (349) (349) 50%........... 609 609 609 609 10%............... (89) (12) (101) (89) (12) (101) 10%............... 89 12 101 89 12 101 2010 20%............. (211) (211) (211) (211) 20%............. 211 211 211 211 10%... (55) (55) (55) (55) 10%... 66 66 66 66 50%........... (203) (203) (203) (203) 50%........... 363 363 363 363 10%............... (63) (11) (74) (63) (11) (74) 10%............... 63 11 74 63 11 74 2011 NHFA Limited NHFA Limited 183

2011 2011 292 2006 2011 45 2011 2010 2006 % % %.............. 15.5 15.5 15.0.............. 60.5 56.5 50.0 83........ 9.5 10.5 10.0.............. 9.0 9.0 10.0.............. 5.5 8.5 15.0 185 100.0 100.0 100.0 2011 188 184

1 2 2010 3 1,71020102,200 4 2011 12 3133201035 200935200839200739 5 6 7 8 2011 2010 2010133 9 2011 10 2010 11 2011 12 31 12 13 14 15 16 17 16 18 19 20 21 20113520104120114.76 20106.2720114.2820104.5220115.56 20106.69 20112.2920102,900 22 6029201037 23 CRR 9 CRR 10 EL 9 EL 1090 128 133 24 25 CRR 1 CRR 8 EL 1 EL 890 26 16 27 28 29 30 185

31 32 IFRS 33 34 35 Solitaire 36 37 38 CDS 39 40 41 42 43 2011 12 31 27 44 45 46 2011 2011 96.8% 99.7% 86.4% 93.5%105.4% 116.3% 98.5% 108.2% 188 47 48 49 Regency Bryant Park 2010Bryant Park 6 2011Bryant Park 33 2011 Bryant Park LLC 50 Solitaire Mazarin 403 221 2010256 Solitaire 932010812011 12 31 1282010175 2011 12 3162201084 Mazarin 51 405 52 53 54 166 55 168 56 177 57 2010 2010 2010 12 31 2.672 1.4 2.86 58 59 60 61 186

62 63 64 65 66 67 DPF 68 IFRS 4 69 70 71 72 73 SABB Takaful Company Bao VietHana Life Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited 74 75 76 77 78 100% 79 80 81 82 PVIF 83 2010 20112006 187

233 188

190 2IRB 191 189

297 3012g 2j 2972g 180 150 210 180 360 100 190

(%) 1 (%)... A CRR1 0 0.169 EL1 0 0.999 CRR2 EL2... BBB+ CRR3 0.170 0.740 EL3 1.000 4.999 BBB... BB+ B+ CRR4 CRR5 0.741 4.914 EL4 EL5 5.000 19.999... B CRR6 CRR8 4.915 99.999 EL6 EL8 20.000 99.999... CRR9 CRR10 100 EL9 EL10 100+ 2 1 EL9 EL10EL1 EL8 90 128 2 100% 100% 90 90 90 192 CRR1023 PD 2 10 23 EL10 191

IFRS 131 60 192

38 a) b) a) b) c) 193

(CRR1-8) MBS CDOABS Alt-A 194

ABS CDO 620 FICO Alt-A Alt-A Alt-A Ginnie Mae 195

196

100% 197

198

VAR 99% 1% 99% 199

199 99% 200

IFRS 201

202

1 2011 12 3143 58 203

DPF 98 187 171 183 204

177 183 205

206

1 1 207

2008 208

GRRPC 240 7 209

2011 18 70% 210

........................ 2011....... 2011......................................................... 2 215 2011 32.5 2011 12 31 2011 2010 % %............ 10.1 10.5................ 11.5 12.1................ 14.1 15.2....... 9.5 10.5 3 2011 2011 2010.................. 958,189 890,696.......... 53,792 50,175.................. 73,177 38,679.................. 124,356 123,563....................... 1,209,514 1,103,113 2011 20111,060 10% 90 1,150 2.5 500 400 100 211

2011 2012 2011 2011 2010................................................. 116,116 106,260................................... 14,011 13,218........................................... 16,797 13,159....................................... (2,786) 59........................................................... (5,271) (3,827)............................................................. (7,501) (6,350)............................................... 2,230 2,523......................................... 582 679....................................................... 96 180....................................................... (2,705) (526)............................................. (333) 132................................................. 122,496 116,116................................................. 17,063 15,897................................... 2,368............................................. 31 (1,202)..................................................... 139,590 133,179 2011 2011 2010 87 27 2010 12 3 2011 6 34.5% 2.5% 2013 1 1 2019 1 1 2016 2.5%2019 1 1 2011 1 1 2013 1 1 2017 1 1 2017 2018 1 1 3 2011 1 2013 1 1 2013 1 1 10 2011 7 43 212

3 2011 12 2013 1 1 4 3 2011 7 2011 11 FSB 28 1% 2.5% 1% 2014 11 2016 1 1 2019 1 1 2011 10 2012 2014 2011 9 101 8% 12% 2019 1 1 4.5% 2.5% 0 2.5% 1 2.5% 2012 6 9% 2019 1 1 9.5% 10.5% 3 3 2011 12 31 3 2013 1 1 100 1103 2013 1 110 10 201350 2014 1 1 213

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........................ 279................... 280................... 281................... 282............... 283............. 286............. 287........ 288 1......................... 291 2................ 294 3................. 313 4.................. 314 5..................... 314 6......................... 315 7.................. 316 8....................... 325 9.............. 327 10............................. 330 11............................. 334 12......................... 335 13......................... 336 14................ 341 15.................... 345 16......................... 346 17......................... 357 18................ 359 19....................... 360 20......................... 361 21......................... 365 22....................... 368 23......... 369 24.................. 371 25................ 376 26................ 378 27..... 379 28.................... 381 29....................... 381 30.................. 381 31....................... 383 32.................... 383 33............................. 386 34......................... 387 35............ 391 36......................... 392 37.......... 392 38.................. 393 39....... 394 40.................. 397 41........ 399 42......................... 400 43......................... 401 44.............. 405 45.................... 410 46.................... 413 278

2011 12 31 2011 2010 2009.................................... 63,005 58,345 62,096.................................... (22,343) (18,904) (21,366).................................. 40,662 39,441 40,730.................................... 21,497 21,117 21,403.................................... (4,337) (3,762) (3,739)................................ 17,160 17,355 17,664.................. 3,283 4,680 6,236........................ 3,223 2,530 3,627................................ 6,506 7,210 9,863.... 4,161 (258) (6,247)................ (722) 1,478 2,716.... 3 3,439 1,220 (3,531)...................... 907 968 520.................................... 149 112 126.............................. 4 12,872 11,146 10,471................................ 1,766 2,562 2,788................................ 83,461 80,014 78,631........ 5 (11,181) (11,767) (12,450)................ 72,280 68,247 66,181.................. 6 (12,127) (14,039) (26,488)................................ 60,153 54,208 39,693.............................. 7 (21,166) (19,836) (18,468).............................. (17,459) (15,156) (13,392).................. 25 (1,570) (1,713) (1,725).......................... 24 (1,350) (983) (810)................................ (41,545) (37,688) (34,395).................................... 6 18,608 16,520 5,298...................... 23 3,264 2,517 1,781.................................. 21,872 19,037 7,079.................................... 10 (3,928) (4,846) (385).................................. 17,944 14,191 6,694.......................... 16,797 13,159 5,834.......................... 1,147 1,032 860.......................... 12 0.92 0.73 0.34........................ 12 0.91 0.72 0.34 291 41338 4298 210 211 217 279

2011 12 31 2011 2010 2009....................................... 17,944 14,191 6,694..................................... 674 5,835 10,817.................................... 1,279 6,368 9,821.................. (820) (1,174) (648)........................ 583 1,118 2,391........................................ (368) (477) (747)....................................... 187 (271) 772............................ (581) (178) 481............... 788 (164) 808........................................ (20) 71 (517)................... 1,009 (61) (2,608).................................... 1,267 (60) (3,586)........................................ (258) (1) 978......... (710) 107 149......................................... (2,865) (567) 4,975........................... 165..................... (1,540) 5,043 14,105............................... 16,404 19,234 20,799.................................... 15,366 18,087 19,529.................................... 1,038 1,147 1,270 16,404 19,234 20,799 291 41338 4298 210 211 217 280

2011 12 31 2011 2010.................................... 129,902 57,383.................................... 8,208 6,072........................................ 20,922 19,057.............................................. 15 330,451 385,052................................ 19 30,856 37,011.................................................. 20 346,379 260,757.................................................. 180,987 208,271.................................................. 940,429 958,366.................................................. 21 400,044 400,755.......................................... 27 39,558 1,991.................................................. 27 48,699 41,260............................................ 1,061 1,096........................................ 10,059 11,966.................................... 23 20,399 17,198............................................ 24 29,034 29,922.......................................... 25 10,865 11,521.............................................. 10 7,726 7,011.................................................. 2,555,579 2,454,689............................................ 20,922 19,057.................................................. 112,822 110,584.................................................. 1,253,925 1,227,725.................................... 8,745 6,663.............................................. 28 265,192 300,703................................ 29 85,724 88,133.................................................. 20 345,380 258,665............................................ 30 131,013 145,401................................ 31 22,200 86.................................................. 31 27,967 27,964............................................ 2,117 1,804.............................................. 32 61,259 58,609........................................ 13,106 13,906...................................................... 33 3,324 2,138.............................................. 10 1,518 1,093.............................................. 7 3,666 3,856.................................................. 34 30,606 33,387.................................................. 2,389,486 2,299,774................................................ 39 8,934 8,843................................................ 8,457 8,454.............................................. 5,851 5,851.................................................. 23,615 25,414 5................................................. 111,868 99,105.............................................. 158,725 147,667............................................ 38 7,368 7,248.......................................... 166,093 154,915.................................... 2,555,579 2,454,689 291 41338 4298 210 211 217 281

2011 12 31 2011 2010 2009................................... 21,872 19,037 7,079......................... (1,196) (1,698) (1,910)................... (3,264) (2,517) (1,781)........... 40 19,878 18,887 31,384........................... 40 (7,412) (13,267) (20,803)........................... 40 44,012 42,272 14,645 1............................ 10,840 (1,799) (19,024)......................... 304 441 414................... (1,177) (3,321) (974)................................. (4,095) (2,293) (2,132)....................... 79,762 55,742 6,898................................. (319,008) (341,202) (304,629)........... 311,702 321,846 241,341......................... (1,505) (2,533) (2,000)................. 300 4,373 4,701......................... 4,243 4,852............................. (1,571) (1,179) (956)............... (86) (677)............... 216 466 45..... (90) (1,589) (62)............... (19,566)................... 25 254 308....................... (9,931) (34,973) (57,077)............................... 96 180 18,398..................................... 18,326..................................... 96 180 72............................. 3,718............................. (225) 163 (176)............................. (136) 11 (51)................................... 2 12......................... 7 4,481 2,959......................... (3,777) (2,475) (4,637)... 104 (229)....................... (5,014) (3,441) (4,264)....................... (568) (595) (702)............... (573) (413) (269)....................... (10,086) 1,402 11,270............. 59,745 22,171 (38,909) 1 1................ 274,076 250,766 278,872................. (8,372) 1,139 10,803 12 31.............. 40 325,449 274,076 250,766 290 291 41338 4298 210 211 217 282

2011 12 31 2011 2 3, 4, 5 6 3, 7 1 1.......................................... 8,843 8,454 5,851 99,105 (4,077) (285) 2,468 27,308 147,667 7,248 154,915......................................... 16,797 16,797 1,147 17,944............................. 368 716 190 (2,705) (1,431) (109) (1,540)..................................... 716 716 (42) 674....................................... 190 190 (3) 187................... 1,078 1,078 (69) 1,009................. (710) (710) (710)......................................... (2,705) (2,705) 5 (2,700)................................. 17,165 716 190 (2,705) 15,366 1,038 16,404......................... 6 90 96 96 2...................... 85 (87) 2,232 2,230 2,230 8.................................. (7,501) (7,501) (815) (8,316)....................................... 128 128 128....................................... (361) (361) (361)......................... 1,154 1,154 1,154......................... 21 21 21........................................... (75) (75) 28 (47)................................. (252) (252)....... 121 121 12 31........................................ 8,934 8,457 5,851 111,868 (3,361) (95) (237) 27,308 158,725 7,368 166,093 283

2011 12 31 2010 2 3, 4, 5 6 3, 7 1 1.......................................... 8,705 8,413 2,133 88,737 (9,965) (26) 2,994 27,308 128,299 7,362 135,661......................................... 13,159 13,159 1,032 14,191............................. 49 5,671 (266) (526) 4,928 115 5,043....................................... 5,671 5,671 164 5,835......................................... (266) (266) (5) (271)............................. (58) (58) (3) (61)................... 107 107 107........................................... (526) (526) (41) (567)................................. 13,208 5,671 (266) (526) 18,087 1,147 19,234......................... 12 168 180 180 2...................... 126 (127) 2,524 2,523 2,523 9.................................. 3,718 3,718 3,718 8.................................. (6,350) (6,350) (725) (7,075)....................................... 122 122 122....................................... 174 174 174......................... 812 812 812......................... (14) (14) (14)........................................... (58) 217 7 166 3 169................................. (436) (436)....... (50) (50) (103) (153) 12 31........................................ 8,843 8,454 5,851 99,105 (4,077) (285) 2,468 27,308 147,667 7,248 154,915 284

2009 2 3, 4, 5 6 3, 7 1 1.......................................... 6,053 8,463 2,133 82,684 (20,550) (806) (1,843) 17,457 93,591 6,638 100,229......................................... 5,834 5,834 860 6,694............................. (2,536) 10,603 791 4,837 13,695 410 14,105....................................... 10,603 10,603 214 10,817......................................... 791 791 (19) 772..................... (2,685) (2,685) 77 (2,608)................... 149 149 149........................................... 4,837 4,837 138 4,975................................. 3,298 10,603 791 4,837 19,529 1,270 20,799......................... 4 69 73 73 2...................... 118 (119) 1,670 1,669 1,669 7.................................. 2,530 15,796 18,326 18,326 8.................................. (5,639) (5,639) (832) (6,471)....................................... 50 50 50....................................... (227) (227) (227)............... 38 38 38......................... 683 683 683......................... 9 9 9........................................... 226 (18) (11) 197 77 274 7.............................................. 5,945 (5,945)................................. (38) (38)....... 247 247 12 31........................................ 8,705 8,413 2,133 88,737 (9,965) (26) 2,994 27,308 128,299 7,362 135,661 290 291 41338 4298 210 211 217 285

2011 12 31 2011 2010.................................... 316 459.................................................. 20 3,568 2,327.......................................... 28,048 21,238.................................................. 1,078 2,025............................................ 104 224........................................ 32 108.......................................... 26 90,621 92,899.......................................... 4 4.............................................. 10 91 57.................................................. 123,862 119,341...................................... 2,479 2,932................................ 29 21,151 16,288.................................................. 20 1,067 827............................................ 30 2,613 2,668.................................................. 31 911 1,232........................................ 1,008 750.................................................. 34 12,450 13,313.................................................. 41,679 38,010................................................ 39 8,934 8,843................................................ 8,457 8,454.............................................. 5,828 5,828........................................ 35,127 35,127.................................................. 1,722 1,639.................................................. 22,115 21,440.......................................... 82,183 81,331.................................... 123,862 119,341 291 41338 4298 210 211 217 286

2011 12 31 2011 2010................................................ 5,758 5,237............................ 40 77 185........................................ 40 (5,489) 3,091........................................ 40 (414) (1,754)................................ 570...................................... (57) 853.................................... 445 7,612...................................... 941.................. (626) (6,649)............................ 315 (6,649)............................................ 96 180.......................................... 3,695................................................ 2...................................... 1,349...................................... (750) (2,100)............................................ 5,338.................................................. (5,014) (3,441)............................ (573) (413).................................... (903) (728).......................... (143) 235 1 1............................. 459 224 12 31........................... 40 316 459 291 41338 4298 210 211 217 287

2011 12 31 2011 2 5, 10 7 1 1................................. 8,843 8,454 5,828 21,440 56 1,583 35,127 81,331................................ 5,471 5,471.................... (44) (44).............................. (61) (61).................................... 17 17........................ 5,471 (44) 5,427.............................. 6 90 96 2............................. 85 (87) 2,232 2,230 8......................... (7,501) (7,501).............................. 128 128.............................. (265) (265)............................ (127) 127................................ 57 57............................ 674 674.................................. 6 6 12 31............................... 8,934 8,457 5,828 22,115 12 1,710 35,127 82,183 288

2010 2 9 5, 10 7 1 1................................. 8,705 8,413 2,133 19,781 253 1,464 35,127 75,876................................ 5,658 5,658.................... (197) (197).............................. (275) (275).................................... 78 78........................ 5,658 (197) 5,461.............................. 12 168 180 2............................. 126 (127) 2,524 2,523 9......................... 3,695 3,695 8......................... (6,350) (6,350).............................. 91 91.............................. (260) (260)............................ (119) 119................................ 28 28............................ 76 76.................................. 11 11 12 31............................... 8,843 8,454 5,828 21,440 56 1,583 35,127 81,331 2011 12 310.39 20100.34 20090.34 290 291 41338 4298 210 211 217 289

1 1 2 20020101002009100 3 1998 1 1 51.38 34.6916.69 4 98,498,01913.2 2010123,331,97917.99 2009179,964,96825.72 5 2011 1 1 2011 12 31 22.74 201017.55200919.25 6 1.0420106.052009 5.028.9320104.4120093.06 7 1985 1311992 2000 2003 82.9127.68 HSBC Overseas Holdings (UK) LimitedHOHU2011 12 31 HOHU 2010200959.45 2009 1985 131 157.96 6.141.491.491.21 3.44 8 9 2010 6388,200 2,300 IFRS 10 33,557,7645.63 201039,814,1075.62 290

1 1 (a) IASB IFRS IFRS IFRS IASB IFRS 2011 12 312011 12 31 IFRS IFRS IASB IFRS IASB IFRS2011 12 31 IFRS IASBIFRS IFRIC 2011 (b) IFRS IFRS IFRS (c) IFRS 4 IFRS 4 IFRS 7 IFRS 7 98 210 133 IAS 1 IAS 1211 217 98 210 2006 408(3) 291

1 (d) 38 42 (e) 12 31 6 30 12 31 292

12 31 9 30 10 112 31 (f) 2011 12 31IASB 2011 12 31 IASB 2013 IASB 2013 2011 5IASBIFRS 10IFRS 10 IFRS 11IFRS 11 IFRS 12IFRS 122013 1 1 IFRS 10 11 IFRS 10 IFRS 11 IFRS 12 IFRS 11 IFRS 10 2011 5IASB IFRS 13 IFRS 132013 1 1 IFRS 13 IFRS 13 IFRS 13 IFRS IFRS 13 2013 1 1 IFRS 13 16 2011 6IASBIAS 19 IAS 19 2013 1 1 IAS 19 293

12 2011 2011 12IASBIFRS 7 2013 1 1 2014 2011 12IASBIAS 32 IAS 32 2014 1 1 2015 2009 11IASBIFRS 9IFRS 9 2010 10IASB IFRS 9 IASB IAS 39IAS 39 IASB 2011 12 2015 1 1 IFRS 9 IASBIAS 39 IASB2011 6 IAS 39 IASB IFRS 9 IFRS 9 IFRS 9 2 (a) 294

(b) 2a (c) (d) 295

2 16 17 (e) (f) 2ad) 296

(g) 90 297

2 298

299

2 (h) (i) 300

(j) (i) 301

2 149 (ii) 302

(k) (l) (i) (ii) (iii) 303

2 80% 125% 304

(m) (n) (o) (p) (i) CGU 305

2 (ii) 24 (iii)......................................................................... 10............................................................... 5 12................................................................. 3 5..................................................................... 3 5............................................................... 3 10......................................................................... 10 (q) IFRS 2% 35520 306

(r) (s) 307

2 (t) (u) 308

(v) (w) (x) 309

2 (y) IFRS 4 310

PVIF PVIF PVIFPVIF (z) 311

23 (aa) (ab) (ac) (ad) IFRS IFRS 5 IFRS 312

3 2011 2010 2009............................... (933) 2,349 3,793................... 1,050 230 2............................. (182) (149) (249) (65) 2,430 3,546......................... 231 (946) (1,329)................. 4,161 (258) (6,247)..................... 3,933 (63) (6,533)....... 3,165 (275) (1,726)............................... (2,937) 80 2,012................... (911) (18) 492............................. 23 12 7 3,504 (1,210) (7,077) 3,439 1,220 (3,531) 2011 2010 2009..................... 1,657 248 (2,612)....................................... 1,368 (482) (352)............................... (1,113) 373 201 1,912 139 (2,763) 313

4 5 6 4 DPF 1 2011.................... 1,144 6,238 2,801 3,155 13,338................ 1,175 6,207 2,804 3,155 13,341.............. (31) 31 (3) (3).......... (180) (278) (8) (466)...................... (182) (255) (8) (445).... 2 (23) (21) 964 5,960 2,793 3,155 12,872 2010.................... 1,275 5,427 1,956 2,951 11,609................ 1,192 5,357 1,956 2,951 11,456.............. 83 70 153.......... (160) (289) (14) (463)...................... (172) (266) (8) (446).... 12 (23) (6) (17) 1,115 5,138 1,942 2,951 11,146 2009.................... 1,572 5,218 1,427 2,774 10,991................ 1,339 5,285 1,427 2,774 10,825.............. 233 (67) 166.......... (225) (278) (17) (520)...................... (215) (280) (11) (506).... (10) 2 (6) (14) 1 1,347 4,940 1,410 2,774 10,471 5 DPF 1 2011........ 435 5,729 2,462 3,005 11,631.... 631 1,793 1,129 2,628 6,181.................... (196) 3,936 1,333 377 5,450.. (85) (254) (111) (450).... (81) (164) (56) (301).................... (4) (90) (55) (149) 350 5,475 2,351 3,005 11,181 314

DPF 1 2010........ 625 5,108 2,520 3,716 11,969.... 815 1,355 507 2,023 4,700.................... (190) 3,753 2,013 1,693 7,269.. (100) (201) 99 (202).... (114) (143) (45) (302).................... 14 (58) 144 100 525 4,907 2,619 3,716 11,767 2009........ 1,281 4,669 2,676 3,934 12,560.... 987 2,098 325 1,818 5,228.................... 294 2,571 2,351 2,116 7,332.. (158) (98) 146 (110).... (156) (159) (21) (336).................... (2) 61 167 226 1 6 1,123 4,571 2,822 3,934 12,450 2011 2010 2009 1.......................... 1,604 516 941............ 11,318 11,445 12,310......................... 3,072 3,074 2,735..................................... 8,283 7,418 9,201................................... 8,031 7,187 7,085........................................ (72)..................... 208 188................ (20,965) (17,549) (19,737)............ (1,697) (1,529) (1,580)....................... (182) (151) (116)....................................... (570) 8................................ (51) (51) (51)............................. 116 121 244............................. (177) (105) (358)............................... 57 701 1,033......................... (12,127) (14,039) (26,488)................................. (11,505) (13,548) (24,942)........................... (631) (472) (1,474)................... 9 (19) (72) 315

489 1,076 688 7 1 2011 20113152010 12 31 133 7 2011 2010 2009......................................... 18,923 17,193 16,268....................................... 1,754 1,567 1,512......................................... 489 1,076 688 21,166 19,836 18,468 9 11.622010 8.1220096.83 8,80020101,5002009500 1.59 2011 2010 2009............................................... 81,263 79,902 84,056............................................... 30,323 29,105 28,894....................................... 92,685 89,737 88,122......................................... 8,816 8,983 8,468............................................. 34,871 36,822 42,202........................................... 58,026 57,778 57,774............................................... 305,984 302,327 309,516 2011 2010 2009................................. (172) 468 161................... (428) 308 (179)....................................... 256 160 340................................. 626 545 492 454 1,013 653................................... 32 58 31................................... 3 5 4 489 1,076 688 316

25 27 29 2011 2010.............................................. (208) (2,867)................................. 2,237 (622).......................................... 26,604 22,236.......................................... (24,367) (22,858)...................................................... (2,445) (2,245).......................................... 8,232 7,559.......................................... (10,680) (9,785)........................................ (18) (47)...................................... 21 28.............................................. (961) (946).......................................... 151 165.......................................... (1,091) (1,087)...................................... (21) (24)................................................ 34,987 29,960................................................ (36,138) (33,730).............................................. (18) (47)............................................ - 4 (1,169) (3,813).................................................... (3,666) (3,856).................................................... 2,497 43 2011 2010 1 1....................................................... (4,720) (4,660).................................... 1,945 321........................................................ (642) (275)........................................................ (61) (112) 1....................................... 25 6........................ 1,267 (60) 12 31 2.................................................... (3,453) (4,720) 1 4002010600 2 2011 12 311,80020104,700 2011 2010 2009....................................... 230 218 211 % % %............................. 64 63 59............................. 25 27 29........................... 89 90 88 317

7 1996 7 2008 12 31Towers Watson LimitedC G Singer 106 155 77% 3247 2008 12 31 RPI 0.5%0% 5%2009 7 13% 2008 12 31 190 SAPS S1 1.75%1.25% 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 2012 2018 2024 2030 2036 2042 2048 2054 2060 2066 2072 2078 2084 2090 2096 The Occupational Pensions (Revaluation) Order 2010 CPI 2011 5 2011 6 30 5.87 2008 12 31 318

2008 12 31 198289 2010 2 2010 6 172010 17.626.38 1 1 2012............................ 720 465 2013............................ 720 465 2014............................ 720 465 2015............................ 975 630 2016............................ 975 630 766 495 2017............................ 975 630 975 630 2018............................ 975 630 975 630 1 2011 12 31 2011 12 1.842.86 240 2008 12 31 50 2010 4 1 2011 12 31 34% 2009 38% 2010 3 31 2009 7 1 2010 4 1 65 1999 1 1 2010 12 31 11.09 104%4,100 110%1.05 6% 5% 319

7 21 2009 11 2011 1 1 2011 1 1Jennifer Jakubowski Mercer 26.73 20062008 1 1 90%2.83 6.36% 2011 12 31 243.672010 228.58 15.23 201013.71 38.95 201033.8433% 82% 2011 12 3110.91201010.87 3% 320

2011 2010 2011 2010 1 1......................... 22,236 17,701 7,559 6,822................ 1,325 1,092 481 437.......................... 600 2,890 565 422.......................... 314 252 176 194.......................... 286 2,638 389 228.......................... 34 23 22 17.......................... 3,426 1,772 200 394.......................... (803) (744) (495) (440).............................. 136 (136)................ (7)................ (25) (10).......................... (214) (634) (75) 60 12 31....................... 26,604 22,236 8,232 7,559 1 1......................... (22,858) (21,523) (9,785) (9,109)...................... (251) (252) (299) (300).......................... (1,233) (1,148) (456) (438).......................... (34) (23) (22) (17).......................... (1,481) (1,451) (842) (669).......................... 804 744 569 518........ 587 (40) (11)...... 2 (20).............................. (136) 136.................. 59 158................ 29 12.......................... 99 931 105 (45) 12 31....................... (24,367) (22,858) (10,680) (9,785)...................... (24,367) (22,858) (10,074) (9,241)...................... (606) (544)................ (18) (47).............. 21 28.................. 2,237 (622) (2,445) (2,245).. (622) (2,705) (2,288)............. 2,237 260 43 4,50020105,700 2010100 12.28201015.92 2011 12 31 55.62010 21.73 2.972010 7,70045 2010 6 1717.626.38 17.626.38 2011 121.84 2.86 321

7 3.89 3.57 2011 12 3154.322010 36.95 20125.71 2012 2013 2014 2015 2016 2017-2021.......... 787 828 873 938 997 6,174.............. 524 532 561 579 611 3,839 2011 2010 2009 2011 2010 2009.......... 251 252 260 299 300 334.............. 1,233 1,148 1,019 456 438 397...... (1,325) (1,092) (959) (481) (437) (381).......... (587) 45 12 21.......... (59) (151) (36).. (499) (4) (2) 5...... (428) 308 (179) 256 160 340 20094.99 2011 2010 2009 2008 2007.................... (24,367) (22,858) (21,523) (15,257) (23,512).................... 26,604 22,236 17,701 14,865 22,704.................... 2,237 (622) (3,822) (392) (808).................. (383) (327) (234) (49) (64).......... 3,426 1,772 871 (2,861) 29...... (1,098) (1,124) (4,329) 3,081 2,459............ 1,945 321 (3,692) 171 2,424 2011 2010 2009 2008 2007.................. (10,680) (9,785) (9,109) (8,787) (8,873).................. 8,232 7,559 6,822 6,024 7,768.......................... (2,448) (2,226) (2,287) (2,763) (1,105)........ (78) (73) 20 (52) (354)........ 200 394 65 (1,452) 157.... (764) (596) 94 (306) (121).......... (642) (275) 179 (1,810) (318) 322

12 31 % % % % 2011 12 31 1................................................... 4.80 3.20 3.10 3.70.................................................... 1.47 5.00.................................................... 4.60 2.50 2.75 2010 12 31 1................................................... 5.40 3.70 3.50 4.20.................................................... 2.85 5.00.................................................... 5.41 2.50 2.75 2009 12 31 1................................................... 5.70 3.70 3.50 4.20.................................................... 2.58 5.00.................................................... 5.92 2.50 3.50 1 5% 5% 5% AA 65 65 65 65 45 65 45 2011 12 31............... SAPS MC 1 22.5 24.4 23.5 25.4 2............................. RP 2000 19.4 20.9 21.3 22.2 2010 12 31............... SAPS MC 1 22.4 24.3 23.4 25.3 2............................. RP 2000 19.3 20.8 21.2 22.1 1 SAPS MC 2002 1% 1.08 1.06 2 323

7 8 2011 2010 1 1 % %.................. 26,604 22,236............................ 7.2 3,190 8.4 3,415............................ 4.1 20,737 5.3 15,638............................ 6.7 1,524 7.6 1,438............................ 2.8 1,153 4.0 1,745.................. 8,232 7,559............................ 7.7 2,184 8.2 2,617............................ 4.7 4,659 5.0 4,073............................ 4.6 106 6.1 98............................ 4.0 1,283 6.2 771 1 2011 2010 25................................... (980) (941) 25................................... 1,045 1,003 2012 25................................ 2 (9) 2012 25................................ (2) 9 25................................... 1,026 1,029 25................................... (978) (978) 2012 25................................ 57 67 2012 25................................ (54) (64) 25................................... 876 813 25................................... (841) (775) 2012 25................................ 43 48 2012 25................................ (42) (45) 25................................... 248 216 25................................... (240) (203) 2012 25................................ 19 20 2012 25................................ (15) (17) 2012 25................................ (65) (54) 2012 25................................ 67 54 1............................ 619 497 324

2011 2010 25................... (325) (290) 2012 25.................. (1) 1........................ 144 131 20114.1320102.44 2011 1,21220101,015 2006 2008 2011 2010 2009............................................... 5,108 3,597 3,756..................................... 12,906 12,841 11,835............................................... 12,516 14,294 30,530 30,732 15,591............................. 2,596 8,523 1,579 1,166,580 20101,016,089 2011 12 31 18,006,894 201017,628,508 373,310 20101,055,582 2011 256 274 8 2011 2010 2009 KPMG 1.......................... 48.8 49.1 48.2 KPMG..................... 1.9 2.3 2.5..................................... 50.7 51.4 50.7 1 KPMG KPMG Audit PlcKPMG 325

8 9 KPMG 2011 2010 2009 1............................ 2.2 2.4 2.3..................................... 2.1 2.4 2.1..................................... 0.1 0.2........................... 84.9 75.9 77.1 2............ 46.6 46.7 45.9 3........................ 25.7 20.8 24.2 4........................................ 4.3 2.4 2.6 5............................ 0.1 0.1 0.3 6........................ 0.1 7................................ 8.2 5.9 4.0....................................... 87.1 78.3 79.4 1 KPMG Audit PlcKPMG Audit Plc KPMG 2 KPMG 3 4 5 6 KPMG 7 KPMG KPMG 2011 2010 2009........................................... 248 384 670........................................... 11....................................... 260....................................... 259 384 930 KPMG KPMG KPMG86020101,4902009810 KPMG 326

9 2011 2010 2009 1.................. 1,041 685 539................................... 121 127 144 1,162 812 683......................... 1,154 812 683......................... 8 1 2011 5 9.74 20106.120095.39 7 2011 2012 2011 1 2011 2011 1 2011...... 131 843 974 289 652 941 2010 2011 2010 1 2010 2010 1 2010...... 610 610 759 801 1,560 2009 2010 2009 1 2009 2009 1 2009...... 539 539 816 719 1,535 1 2012 2011 2011 1 1 327

9 2010 1 2011 2010 2011 2010 1 1................... 229,092 184,318 4,425 7,360........................ 100,819 110,711 154 351........................ (56,301) (55,419) (883) (1,181)........................ (11,369) (10,518) (3,696) (2,105) 12 31................. 262,241 229,092 4,425.. 10.11 10.50 1 2008 2011 3 20% 201020% 15% 2005 5 250 20002005 329 328

1 3 5 2011 1 (%).............................................. 0.8 1.7 2.5................................................ 1 3 5 2 (%)................................................ 25 25 25........................................ 6.37 6.37 6.37 2010 1 (%).............................................. 0.7 1.9 2.9................................................ 1 3 5 2 (%)................................................ 30 30 30........................................ 6.82 6.82 6.82 2009 1 (%).............................................. 0.7 2.1 2.4................................................ 1 3 5 2 (%)............................................... 50 35 30........................................ 4.65 4.65 4.65 1 2 4.5% 20104.5% 20094.5 2011 12 31 2402010240 39 1 1 1 2011 1 1............ 157,855 3.87 152,758 7.12 2,429 9.29 2................... 23,199 5.11 3................... (7,439) 5.27 (646) 6.06.................... (20,150) 4.71 (31,320) 7.56 12 31......... 153,465 3.80 120,792 7.02 2,429 9.29 2011 12 31 3.00 4.50............... 117,387 4.51 6.00............... 32,778 6.01 7.50............... 2,341 115,901 7.51 9.29............... 959 4,891 2,429................ 3,209 120,792 2,429.... 2.04 1.66 0.89 329

9 10 1 1 1 2010 1 1............ 172,526 3.69 157,719 7.12 2,736 9.29 2................... 22,017 5.39 3................... (16,830) 4.18 (1,015) 6.08 (307) 9.29.................... (19,858) 4.44 (3,946) 7.36 12 31......... 157,855 3.87 152,758 7.12 2,429 9.29 2010 12 31 3.00 4.50............... 126,198 4.51 6.00............... 26,036 6.01 7.50............... 3,864 119,439 7.51 9.29............... 1,757 33,319 2,429................ 1,883 152,758 2,429.... 2.76 2.33 1.89 1 2 2.11 20102.41 3 8.65 2010 10.089.51 201010.26 10 2011 2010 2009......................................... 820 383 206..................................... 462 404 280................................. 358 (21) (74) 1.......................................... 4,255 3,328 1,847..................................... 4,155 3,235 1,826................................. 100 93 21 5,075 3,711 2,053........................................... (1,147) 1,135 (1,668)............................. (1,178) 1,176 (1,672)................................... (3) 31 (10)................................... 34 (72) 14............................... 3,928 4,846 385 1 9.9720109.6220097.83 16.5% 201016.5% 200916.5% 330

2011 2010 2009 % % %................... 21,872 19,037 7,079 26.5% 2010 28% 2009 28%................. 5,796 26.5 5,330 28.0 1,982 28.0....................... (492) (2.2) (744) (3.9) (1,345) (19.0)........... 495 2.3 (39) (0.6)......... (923) (4.2) (6) 360 5.1................. (865) (4.0) (758) (4.0) (499) (7.1)............. 1,216 6.4................. (613) (2.8) (700) (3.7) (603) (8.6)............. 467 2.1 355 1.9 223 3.2..................... (3) 31 0.2 (10) (0.1)......... 267 1.2 224 1.2 353 4.9... (201) (0.9) (102) (0.6) (37) (0.4)........... 3,928 18.0 4,846 25.5 385 5.4 18.0%2010 25.5% 2011 2010 92011 9 2010 12 26.5% 201028% 200928% 2011 4 128% 26%2014 4 11%23%25% 20122013 201126.5% 201028% 2011 12 312.39 CFC 2002 2009 49 331

10 2011............................ 1,538 4,799 351 109 11 352 241 957 8,358............................ (3) (126) (135) (88) (707) (225) (756) (400) (2,440) 2011 1 1................. 1,538 4,799 348 (17) (124) 264 241 (707) (225) (756) 557 5,918...................... 3 11 (3) (5) 1 22 (6) 23.......................... (437) (224) 945 137 10 14 1 93 (36) 17 627 1,147.................... (322) (533) 53 (802)........................ 27 27.................. (147) (127) 24 (3) 93 24 16 33 12 2 (32) (105) 2011 12 31............... 635 4,448 1,328 117 (557) 350 286 (581) (227) (737) 1,146 6,208............................ 742 4,448 1,328 117 487 286 14 1,709 9,131............................ (107) (557) (137) (595) (227) (737) (563) (2,923) 2010............................ 1,772 6,363 407 215 68 229 196 1,535 10,785............................ (129) (340) (91) (1,121) (399) (1,080) (842) (4,002) 2010 1 1................. 1,772 6,363 407 86 (272) 138 196 (1,121) (399) (1,080) 693 6,783...................... 8 12 (2) (16) 2.......................... (468) (1,702) (70) 14 (16) 3 50 250 75 386 343 (1,135).................... (1) (73) 70 (4)........................ (14) (14).................. 235 130 11 (117) 225 55 9 164 99 (62) (463) 286 2010 12 31............... 1,538 4,799 348 (17) (124) 264 241 (707) (225) (756) 557 5,918............................ 1,538 4,799 351 109 11 352 241 957 8,358............................ (3) (126) (135) (88) (707) (225) (756) (400) (2,440) 332

2011 12 3162201059 52201040 1220102 27201030132010 8 10 2011 201410 720108 24 520106 2.5% 2.5% 15 2.5% 333

101112 147 2010153 125 2010125 24201026120101 10 201010 10 2011 2010 220101 2011 2010................................................... 1............................................... (4) (21)................................... 46 61......................................... 9 16........................................... 40 91 57 12 11 2011 2010 2009................. 0.12 2,119 1,130 0.10 1,733 838 0.10 1,210 624................. 0.09 1,601 204 0.08 1,394 746 0.08 1,384 190................. 0.09 1,603 178 0.08 1,402 735 0.08 1,385 696................. 0.09 1,605 720 0.08 1,408 205 0.08 1,391 160 0.39 6,928 2,232 0.34 5,937 2,524 0.34 5,370 1,670 3........................ 15.50 22 15.50 22 15.50 22 6........................ 15.50 23 15.50 23 15.50 23 9........................ 15.50 22 15.50 22 15.50 22 12....................... 15.50 23 15.50 23 15.50 23 62.00 90 62.00 90 62.00 90 334

1 2011 2010 2009 1..................... 0.508 44 0.508 44 0.508 44 3..................... 0.500 76 4..................... 0.508 45 0.508 45 0.508 45 6..................... 0.500 76 7..................... 0.508 45 0.508 45 0.508 45 9..................... 0.500 76 0.450 68 10.................... 0.508 45 0.508 45 0.508 45 12.................... 0.500 76 0.500 76 4.032 483 2.982 323 2.032 179 1 2010 62008 4 3822 IFRS 2011 12 310.14 25.15 2012 5 22012 3 15 2012 3 16 2011 2012 1 170.5084,400 2011 12 31 12 (1) (2) 2011 2010 2009................................. 16,797 13,159 5,834................... (90) (90) (90)................. (483) (323) (179)........................... 16,224 12,746 5,565 2011 2010 2009 1............................ 16,224 17,700 0.92 12,746 17,404 0.73 5,565 16,277 0.34..... 222 229 143............. 45 55 26..................... 177 174 117 1.......................... 16,224 17,922 0.91 12,746 17,633 0.72 5,565 16,420 0.34 1 1.51 2010 1.5 20092.14 335

13 13 IFRS 2011 3 1 336

2011................ 11,001 4,691 5,102 1,432 11,480 6,956 40,662.............. 6,236 3,097 2,111 627 3,308 1,781 17,160...... 2,161 1,189 1,658 482 (362) 1,378 6,506.................. 4,848 1,705 1,842 66 1,574 1,338 (3,421) 7,952 1............. 24,246 10,682 10,713 2,607 16,000 11,453 (3,421) 72,280............ (2,512) (156) (267) (293) (7,016) (1,883) (12,127).............. 21,734 10,526 10,446 2,314 8,984 9,570 (3,421) 60,153............ (7,621) (2,610) (3,179) (659) (3,928) (3,169) (21,166)............ (8,473) (1,724) (2,378) (458) (4,404) (3,443) 3,421 (17,459).................. (581) (245) (198) (36) (261) (249) (1,570)...... (394) (179) (51) (6) (326) (394) (1,350).............. (17,069) (4,758) (5,806) (1,159) (8,919) (7,255) 3,421 (41,545).................. 4,665 5,768 4,640 1,155 65 2,315 18,608.... 6 55 2,831 337 35 3,264................ 4,671 5,823 7,471 1,492 100 2,315 21,872.......... (1,589) (1,043) (1,315) (266) 958 (673) (3,928)................ 3,082 4,780 6,156 1,226 1,058 1,642 17,944 2010................ 11,250 4,246 3,828 1,367 12,439 6,311 39,441.............. 6,371 2,962 1,932 677 3,664 1,749 17,355.............. 2,863 1,312 1,618 370 314 733 7,210.......... 2,266 1,682 1,854 (4) 630 938 (3,125) 4,241 1............. 22,750 10,202 9,232 2,410 17,047 9,731 (3,125) 68,247............ (3,020) (114) (439) (627) (8,295) (1,544) (14,039).............. 19,730 10,088 8,793 1,783 8,752 8,187 (3,125) 54,208............ (7,875) (2,341) (2,719) (579) (3,672) (2,650) (19,836)............ (6,499) (1,686) (2,181) (450) (4,179) (3,286) 3,125 (15,156).................. (719) (237) (189) (42) (288) (238) (1,713)...... (352) (167) (54) (7) (183) (220) (983).............. (15,445) (4,431) (5,143) (1,078) (8,322) (6,394) 3,125 (37,688).................. 4,285 5,657 3,650 705 430 1,793 16,520.... 17 35 2,252 187 24 2 2,517................ 4,302 5,692 5,902 892 454 1,795 19,037.................. (1,006) (987) (962) (138) (1,180) (573) (4,846)........ 3,296 4,705 4,940 754 (726) 1,222 14,191 337

13 2009................ 12,268 4,195 3,539 1,485 13,670 5,573 40,730.............. 6,267 2,669 1,557 625 4,817 1,729 17,664.............. 5,459 1,225 1,606 394 331 848 9,863.......... (450) 1,378 1,301 90 (2,513) 874 (2,756) (2,076) 1............. 23,544 9,467 8,003 2,594 16,305 9,024 (2,756) 66,181............ (5,568) (500) (896) (1,334) (15,664) (2,526) (26,488).............. 17,976 8,967 7,107 1,260 641 6,498 (2,756) 39,693............ (7,174) (2,102) (2,363) (545) (4,085) (2,199) (18,468)............ (5,775) (1,502) (1,872) (419) (3,794) (2,786) 2,756 (13,392).................. (762) (224) (172) (31) (329) (207) (1,725)...... (277) (118) (43) (6) (183) (183) (810).............. (13,988) (3,946) (4,450) (1,001) (8,391) (5,375) 2,756 (34,395).......... 3,988 5,021 2,657 259 (7,750) 1,123 5,298.... 21 8 1,543 196 12 1 1,781........ 4,009 5,029 4,200 455 (7,738) 1,124 7,079.......... (776) (869) (753) (94) 2,285 (178) (385)........ 3,233 4,160 3,447 361 (5,453) 946 6,694 1 338

2011.............. 21,734 10,526 10,446 2,314 8,984 9,570 (3,421) 60,153.................... 20,676 9,442 9,396 2,316 8,744 9,579 60,153................ 1,058 1,084 1,050 (2) 240 (9) (3,421)........ 975 424 249 42 802 643 3,135........ 3,085 202 453 395 7,147 2,271 13,553............ 705 55 25 13 9 1 808........ 3,180 4 10 967 4,161.............. 357 47 34 27 73 259 797 2010.............. 19,730 10,088 8,793 1,783 8,752 8,187 (3,125) 54,208.................... 18,881 9,170 7,728 1,774 8,504 8,151 54,208................ 849 918 1,065 9 248 36 (3,125)........ 1,071 404 243 49 576 458 2,801........ 3,303 169 615 684 8,476 1,812 15,059............ 33 41 4 5 21 1 105........ (365) (2) (2) 111 (258).............. 86 15 36 5 13 3 158 2009.............. 17,976 8,967 7,107 1,260 641 6,498 (2,756) 39,693.................... 16,734 8,352 6,056 1,283 767 6,501 39,693................ 1,242 615 1,051 (23) (126) (3) (2,756)........ 1,039 342 215 37 515 390 2,538........ 5,833 534 1,028 1,361 15,757 2,865 27,378............ 137 129 50 4 38 358........ (2,746) (3) (1) (3,497) (6,247).............. 79 7 42 2 153 17 300 339

1314 2011 12 31............ 434,336 157,665 123,868 25,875 142,747 55,938 940,429.................. 150 196 17,916 2,036 101 20,399.................. 1,281,945 473,024 317,816 57,464 504,302 144,889 (223,861) 2,555,579.................. 493,404 315,345 174,012 36,422 155,982 78,760 1,253,925.................. 1,224,386 458,179 288,485 49,005 464,990 128,302 (223,861) 2,389,486 1......... 1,177 432 207 29 342 951 3,138 2010 12 31............ 435,799 140,691 108,731 24,626 190,532 57,987 958,366.................. 186 207 15,035 1,661 104 5 17,198.................. 1,249,527 429,565 278,062 52,757 492,487 139,938 (187,647) 2,454,689.................. 491,563 297,484 158,155 33,511 158,486 88,526 1,227,725.................. 1,189,996 422,101 246,989 45,379 459,301 123,655 (187,647) 2,299,774 1......... 865 836 168 46 774 788 3,477 2009 12 31............ 439,481 99,381 80,043 22,844 206,853 47,629 896,231.................. 147 157 11,083 1,573 42 9 13,011.................. 1,268,600 399,243 222,139 48,107 475,014 115,967 (164,618) 2,364,452.................. 495,019 275,441 133,999 32,529 149,157 72,889 1,159,034.................. 1,213,907 384,912 203,243 42,325 447,530 101,492 (164,618) 2,228,791 1......... 983 290 159 102 658 540 2,732 1 340

1 1 2 2011....................... 24,214 13,873 16,073 3,206 9,145 (6,358) 60,153............................. 22,705 13,624 18,897 2,121 2,806 60,153............................. 1,509 249 (2,824) 1,085 6,339 (6,358) 2010....................... 22,352 12,029 17,922 3,105 4,663 (5,863) 54,208............................. 20,797 11,419 20,822 2,194 (1,024) 54,208............................. 1,555 610 (2,900) 911 5,687 (5,863) 2009....................... 16,395 9,571 17,770 2,984 (2,031) (4,996) 39,693............................. 14,847 9,285 20,340 2,275 (7,054) 39,693............................. 1,548 286 (2,570) 709 5,023 (4,996) 1 2011 3 1 2010200910.358.82 2 2011 2010 2009 1 2 1 2 1 2................................. 13,940 21,414 11,467 19,661 9,958 19,704................................. 9,442 6,257 9,170 4,630 8,352 3,374................................. 6,193 3,830 6,098 6,669 (1,042) 5,499................................. 2,570 10,790 3,185 10,914 3,322 11,782................................. 5,282 2,149 4,506 2,025 3,368 1,868....................... 22,726 31,590 19,782 29,747 15,735 25,557 60,153 76,030 54,208 73,646 39,693 67,784 1 2 12 14 2 IAS 39 341

14 2011 12 31................... 129,902 129,902................... 8,208 8,208....................... 20,922 20,922............................. 330,451 330,451............... 30,856 30,856................................. 342,914 446 3,019 346,379................................. 180,987 180,987................................. 940,429 940,429................................. 21,199 378,845 400,044......................... 308 482 37,018 37,808................................. 24,040 24,040................................. 8,951 8,951............................. 673,673 30,856 21,199 379,327 1,350,457 446 3,019 2,458,977........................... 20,922 20,922................................. 112,822 112,822................................. 1,253,925 1,253,925................... 8,745 8,745............................. 265,192 265,192............... 85,724 85,724................................. 338,788 4,332 2,260 345,380........................... 131,013 131,013............... 803 16 21,181 22,000................................. 25,911 25,911................................. 11,799 11,799................................. 30,606 30,606............................. 604,783 85,740 1,616,924 4,332 2,260 2,314,039 342

2010 12 31................... 57,383 57,383................... 6,072 6,072....................... 19,057 19,057............................. 385,052 385,052............... 37,011 37,011................................. 256,689 596 3,472 260,757................................. 208,271 208,271................................. 958,366 958,366................................. 19,499 381,256 400,755................................. 20,097 20,097................................. 10,274 10,274............................. 641,741 37,011 19,499 381,256 1,279,520 596 3,472 2,363,095........................... 19,057 19,057................................. 110,584 110,584................................. 1,227,725 1,227,725................... 6,663 6,663............................. 300,703 300,703............... 88,133 88,133................................. 254,416 2,226 2,023 258,665........................... 145,401 145,401................................. 25,533 25,533................................. 12,545 12,545................................. 33,387 33,387............................. 555,119 88,133 1,580,895 2,226 2,023 2,228,396 343

14 15 2011 12 31.................... 316 316.......................... 3,568 3,568.................. 28,048 28,048.......................... 1,078 1,078.......................... 1 1...................... 3,568 28,048 1,078 317 33,011.............. 2,479 2,479........ 21,151 21,151.......................... 1,067 1,067.................... 2,613 2,613.......................... 885 885.......................... 575 575.......................... 12,450 12,450...................... 1,067 21,151 19,002 41,220 2010 12 31.................... 459 459.......................... 2,327 2,327.................. 21,238 21,238.......................... 2,025 2,025.......................... 1 1...................... 2,327 21,238 2,025 460 26,050.............. 2,932 2,932........ 16,288 16,288.......................... 827 827.................... 2,668 2,668.......................... 1,216 1,216.......................... 566 566.......................... 13,313 13,313...................... 827 16,288 20,695 37,810 344

15 2011 2010............................ 235,916 284,940.................................... 94,535 100,112 330,451 385,052.......................................... 34,309 25,620........................................................ 130,487 168,268........................................................ 21,002 41,086...................................... 185,798 234,974........................................................ 75,525 70,456........................................................ 69,128 79,622 1 330,451 385,052 2011 2010 2....................................... 15,686 20,239........................................................ 12,917 17,036........................................................ 8,844 11,053........................................................ 90,816 92,826 3................................................... 2,913 3,998.............................................. 33,620 48,736........................................................ 21,002 41,086 185,798 234,974 1 249.56 2010371.7 52.69201083.3 2 3 2011 12 31 1................. 789 78,760 19,994 99,543 2........................... 33,520 51,727 1,008 86,255 34,309 130,487 21,002 185,798 2010 12 31 1................. 698 113,878 40,098 154,674 2........................... 24,922 54,390 988 80,300 1 28.36201032.54 25,620 168,268 41,086 234,974 2 2011 2010........................................................ 45,490 45,771........................................................ 7,555 5,226........................................................ 5,531 6,346............................................................ 16,949 13,113 75,525 70,456 345

1516 2011 2010........................................................ 34,358 46,366........................................................ 5,804 7,516........................................................ 3,928 11,161............................................................ 25,038 14,579 16 69,128 79,622 240 2011 12 31.................... 180,043 145,628 4,780 330,451...... 22,496 7,644 716 30,856........................ 1,262 340,668 4,449 346,379.............. 217,788 151,936 9,121 378,845.................... 98,208 159,157 7,827 265,192...... 27,461 57,696 567 85,724........................ 1,991 340,260 3,129 345,380 2010 12 31.................... 224,613 154,750 5,689 385,052...... 23,641 12,783 587 37,011........................ 2,078 254,718 3,961 260,757.............. 214,276 158,743 8,237 381,256.................... 124,874 164,436 11,393 300,703...... 22,193 65,370 570 88,133........................ 1,808 253,051 3,806 258,665 2011 353 346

347 (i) (ii)(iii) (iv)

16 2010 5% 348

12 31 2011 2010........................................................ 1,899 2,171.......................................................... 695 620...................................................... 154 136.................................................. 1,050 1,355.......................................................... 60........................................................ 567 389...................................................... 567 383.......................................................... 6 20.................................. 200 250 2,666 2,810 20112.15 1.83 2011 IAS 39 349

16 295 363 154 2011 12 3110.5201013.557.462010 8.36 60% 2011 PD 350

LGD 14 20103 120101 2011 12 31....... 4,565 88 432................. 2,584 710......... 682 7..................... 92 7,340... 940................. 3,509 3,122..................... 1,972 3,208 284 487 567 9,121 4,780 716 4,449 7,827 567 3,129 2010 12 31....... 4,057 278 120................. 1,949 566..................... 11......... 1,043..................... 10,667... 1,005................. 2,956 3,787..................... 2,231 3,802 467 726 570 8 8,237 5,689 587 3,961 11,393 570 3,806 351

16 154 352

2011 1 1................ 8,237 5,689 587 3,961 11,393 570 3,806......... 222 (330) 11 767 36 8 628 1........ (179) (12) (15) (16) 11 (11)..................... 1,858 1,483 242 (1,843)................... 4,569..................... (756) (2,578) (69)..................... (1,088) (199) (7) (33) (1,528) (1,083)..................... (1,891) (569) (173) (410) (5,266) (608)..................... 2,718 1,296 140 180 455 386 12 31.............. 9,121 4,780 716 4,449 7,827 567 3,129 12 31 134 (237) 36 617 101 8 80........... 105........... (265) 617 119 80................. 28 (18)....... 36 8............. 29 2010 1 1................ 10,214 6,420 1,224 4,453 8,774 507 5,192......... 345 158 63 (675) 166 (11) (240) 1........ 618 (101) (36) (110) (157) 74 93..................... 3,708 858 81 (356)................... 4,025..................... (2,461) (1,543) (8)..................... (1,032) 1 (22) 64 (948) (820)..................... (7,065) (629) (894) (669) (1,750) (1,003)..................... 3,910 525 179 898 1,639 584 12 31.............. 8,237 5,689 587 3,961 11,393 570 3,806 12 31 113 116 17 268 180 (14) 361........... 89............. 98 268 198 361................. 18 (18)....... 17 (14)............. 24 1 353

16 2011 12 31 1................. 369 (436)................ 72 (72).............. 814 (818) 441 (508) 814 (818) 2010 12 31 1................. 554 (444)................ 77 (75).............. 763 (744) 631 (519) 763 (744) 1 2011 12 31.................... 123 (83) 451 (451).................... 3 (3) 183 (175)............ 4 (4)........................ 6 (6)...... 76 (178).................... 145 (154)........................ 84 (80) 180 (192) 441 (508) 814 (818) 354

2010 12 31.................... 112 (71) 383 (383).................... 8 (8) 179 (181)............ 8 (8)........................ 18 (16)...... 94 (8).................... 256 (258)........................ 135 (150) 201 (180) 631 (519) 763 (744) 355

1617 2011 12 31...................... 3,568 3,568...................... 1,078 1,078.............. 17,196 3,955 21,151...................... 1,067 1,067 2010 12 31...................... 2,327 2,327...................... 2,025 2,025.............. 12,029 4,259 16,288...................... 827 827 2011 2010 1 1....................................................... 2,025 2,455................................................ 55 (155).......................................... (61) (275)............................................................ (941) 12 31..................................................... 1,078 2,025 12 31............................................ 18 (1) 2011 12 31.............................................. 69 (77) 2010 12 31............................................... 34 (33) 356

17 2 2011 12 31 2010 12 31.......................... 180,987 181,302 208,271 208,311.......................... 940,429 914,485 958,366 934,444................ 21,018 22,500 19,386 20,374.. 181 181 113 113.......................... 112,822 112,848 110,584 110,563.......................... 1,253,925 1,254,313 1,227,725 1,227,428.................... 131,013 130,914 145,401 145,417.......................... 30,606 29,351 33,387 33,161 2011 12 31 2010 12 31 1.................. 35,720 37,832 116 116........................ 206 206........................ 20,138 19,130 1 357

1718 2011 12 31 2010 12 31.............................. 434,336 426,039 435,799 430,333.............................. 157,665 154,054 140,691 140,699...................... 123,868 123,662 108,731 108,582........................ 25,875 25,758 24,626 24,539............................ 142,747 128,608 190,532 172,522.......................... 55,938 56,364 57,987 57,769 940,429 914,485 958,366 934,444 2011 12 31 358

2011 12 31 2010 12 31.................. 28,048 27,562 21,238 21,798.............. 2,479 2,485 2,932 2,963.................... 2,613 2,922 2,668 2,960.......................... 12,450 13,052 13,313 14,428 18 2008 15326 IAS 39 2(e) 359

1819 20 2011 12 31 2010 12 31........... 7,867 6,651 10,947 9,636................. 33 33 91 91 7,900 6,684 11,038 9,727 2011 2010 2009 2008 1...................... 318 610 977 512 2................ 317 1,260 2,276 (2,801)......................... 1 (650) (1,299) 3,313 1...................... 1 56 101 22 2................ (2) 59 301 (202)......................... 3 (3) (200) 224 1 20116,900 201060020091.6320082,6002008 2008 13.71 2 19 2011 2010............................ 30,738 36,990.................................... 118 21 30,856 37,011.......................................... 123 159........................................................ 11,834 18,248........................................................ 17,930 17,418.......................................... 29,887 35,825........................................................ 119 315........................................................ 850 871 30,856 37,011 360

1 2011 2010 2....................................... 35 78........................................................ 812 1,304........................................................ 151 151........................................................ 3,964 4,130 3................................................... 201 6,128.............................................. 6,794 6,616............................................................ 17,930 17,418 29,887 35,825 1 34.972010101.85 4,00020104,800 2 3 2011 12 31 1................. 4 3,607 11,859 15,470............................ 119 8,227 6,071 14,417 123 11,834 17,930 29,887 2010 12 31 1................. 21 4,168 12,548 16,737............................ 138 14,080 4,870 19,088 1 6.3120107.56 20 159 18,248 17,418 35,825 2011 12 31.................. 74,958 1,026 75,984 75,077 371 75,448.................. 510,652 2,439 513,091 502,906 6,221 509,127.................. 15,262 15,262 19,363 19,363.................. 25,694 25,694 25,800 25,800............ 2,198 2,198 1,492 1,492........ 628,764 3,465 632,229 624,638 6,592 631,230.............. (285,850) (285,850).................. 346,379 345,380 2010 12 31.................. 65,905 1,304 67,209 67,564 340 67,904.................. 278,364 2,764 281,128 273,222 3,909 277,131.................. 13,983 13,983 14,716 14,716.................. 20,907 20,907 20,027 20,027............ 1,261 1,261 2,618 2,618........ 380,420 4,068 384,488 378,147 4,249 382,396.............. (123,731) (123,731).................. 260,757 258,665 361

20 201133% 2011 12 31 2010 12 31.............................. 1,546 1,067 1,407 827.............................. 2,022 920 3,568 1,067 2,327 827 352 IAS 39 362

2011 8% 2011 2010 2011 2010 12 31 12 31 12 31 12 31.............................. 3,945,774 3,692,798 18,942 17,287.............................. 19,788,710 18,104,141 10,954 6,804.............................. 265,577 294,587.............................. 1,049,147 1,065,218........................ 76,487 82,856 25,125,695 23,239,600 29,896 24,091 10,491.47201010,652.18 5,177.3720105,302.35 5,314.120105,349.83 163 169 2011 2010 1 1............................................. 250 260.................................................... 234 331........................................................ (143) (106).................................. (71) (17).................................... (60) (163)........................................................ (2) (15)........................................................ (8) (40) 12 31 1.......................................... 200 250 1 363

2021 2011 12 31 2010 12 31.............................. 12,078 1,363 10,599 1,392.............................. 228,052 76,950 282,412 62,757 240,130 78,313 293,011 64,149 2011 12 31 2010 12 31.............................. 77 1 153.............................. 369 4,331 443 2,226 446 4,332 596 2,226 2011 2010 2009......................................... (4,082) (830) 114....................... 3,858 868 (159) (224) 38 (45) 364

2011 12 31 2010 12 31.............................. 949 370 1,151 340.............................. 2,070 1,890 2,321 1,683 3,019 2,260 3,472 2,023 3 1 3 1 5 5 2011 12 31.............................. 139,701 110,960 66,383 4,460.............................. (77,898) (50,480) (36,296) (4,693) 61,803 60,480 30,087 (233) 2010 12 31.............................. 163,006 97,174 58,975 1,358.............................. (89,112) (58,811) (42,259) (6,065).......... 73,894 38,363 16,716 (4,707) 2011 12 31 2,600201090020099,000 2011 12 31 1.21 2010 3,60020103,400 39.22010 6.44 2011 12 31 2010 2009 21 2011 2010............................ 364,906 369,597.................................... 35,138 31,158 400,044 400,755 365

21 2011 2010............ 65,223 65,223 57,129 57,129...................... 65,042 65,042 57,016 57,016.................... 181 181 113 113.......................... 327,611 329,093 335,643 336,632...................... 306,593 306,593 316,257 316,257.................... 21,018 22,500 19,386 20,375.......................... 7,210 7,210 7,983 7,983...................... 7,210 7,210 7,983 7,983...................... 400,044 401,526 400,755 401,744 1 2 2011 12 31...................................................... 43,848 45,283 3................................................... 25,079 26,093 3............................................... 4,425 5,056........................................................ 32,165 33,603........................................................ 33,359 33,374........................................................ 125,623 127,049 4................................................... 35,096 28,625.............................................. 94,110 95,233............................................................ 5,122 7,210 398,827 401,526 2010 12 31...................................................... 37,380 37,255 3................................................... 20,895 21,339 3............................................... 5,029 5,267........................................................ 31,069 31,815........................................................ 29,770 29,793........................................................ 108,947 109,806 4................................................... 39,845 33,175.............................................. 124,704 125,311............................................................ 5,605 7,983 403,244 401,744 2009 12 31...................................................... 17,650 17,635 3................................................... 12,539 12,804 3............................................... 4,885 4,924........................................................ 9,653 9,782........................................................ 37,747 37,763........................................................ 87,122 87,881 4................................................... 48,500 34,914.............................................. 153,639 154,902............................................................ 7,051 9,124 1 378,786 369,729 2 683.342010997.33 20091,332.56 170.792010388.622009553.24 687.6520101,000.72009 1,334.61 3 4 366

2011 12 31 1........ 4,077 121,303 4,370 535 130,285 2................ 60,965 181 185,290 16,648 6,675 269,759 65,042 181 306,593 21,018 7,210 400,044 2010 12 31 1........ 1,400 138,374 4,182 851 144,807 2................ 55,616 113 177,883 15,204 7,132 255,948 57,016 113 316,257 19,386 7,983 400,755 1 2011 12 3146.41201043.32 35.44201019.02 2 12 31 2011 2010 1..................................................... 87,080 92,961 15................................................. 128,192 124,596 510................................................ 52,251 56,926 10...................................................... 60,088 61,160 327,611 335,643 1..................................................... 85,821 91,939 15................................................. 120,763 117,931 510................................................ 44,946 50,113 10...................................................... 55,063 56,274 306,593 316,257 1..................................................... 1,259 1,022 15................................................. 7,429 6,665 510................................................ 7,305 6,813 10...................................................... 5,025 4,886 2011 12 31 21,018 19,386 1 1 5 5 10 10 % % % %......................... 12,153 0.4 17,474 0.7 4,340 2.2 2,964 4.1....................... 2 5.4 8 3.9 96 2.1 24,587 3.3................... 458 1.5 55 1.6 2,036 4.0 451 4.1........................... 3,542 4.5 15,775 1.4 9,041 2.4 618 2.2........................... 895 0.3 1,558 1.2........................... 35,273 1.9 53,418 3.3 10,805 3.6 1,884 4.4....................... 427 0.5 2,133 0.5 8,501 0.4 23,869 0.3................. 33,242 2.6 29,016 3.4 9,055 3.2 3,963 5.4..................... 85,992 119,437 43,874 58,336........................... 85,821 120,763 44,946 55,063 367

2223 1 1 5 5 10 10 % % % %......................... 11 4.1 25 4.2 65 4.8 99 5.0....................... 1 7.6 5 7.7 381 6.5................... 5 4.7 13 7.9 2 7.0 1,406 6.2........................... 5 0.9 10 4.1 3 1.2........................... 22 4.3 486 3.7 263 4.8 468 5.2....................... 166 6.2................. 1,221 3.9 6,899 4.1 6,960 4.4 2,502 5.5..................... 1,259 7,429 7,305 5,025........................... 1,259 7,429 7,305 5,025 2011 12 31 22 (i) (ii) 2011 2010................................ 124,982 124,413 124,625 122,455........................... 7,129 7,039 7,277 7,202 132,111 131,452 131,902 129,657 368

12 31 2011 2010.......................................................... 17,427 17,427..................................................... 22 42................................................ 11 21 23 2011 12 31 2010 12 31.................. 8,507 8,234 6,944 10,773.................. 2,214 2,743 1,769 2,799.............................. 6,373 8,110 5,596 13,735........................... 1,886 3,256 1,580 3,224 18,980 22,343 15,889 30,531 2011 12 31....................................... 1 19.03% 618.86....................................... 1 12.80% 107.86.......................... 1 15.57% 79.16................................................ 40.00% 75 Barrowgate Limited 2........................................... 24.64%.................................... 19.61% 87,880.79 3...................................... 1 20.00% 20 1 2 100 3 62.14% 2006409 148.82010125.4 2011 12 31 8.920107.74 369

23 24 2011 2010.................................................................... 249,461 191,286.................................................................... 230,902 175,812.................................................................... 12,009 9,274............................................................. 3,221 2,479 2004 8 2004 5 2005 8 2010 5 16.13% 1.88 2011 615.57% 1.81 2011 7 29.99% 52.38% 4,800 12 312011 12 312011 9 302011 10 12011 12 31 2007 10 15% 2007 12 14.44%2008 920% 20% 2011 12 31 HSBC Saudi Arabia Limited.............. 49.00% 5 Vaultex UK Limited...................... 50.00% 1,000 Hana HSBC Life Insurance Co., Ltd....... 49.99% 852.01 Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited....... 26.00% 80 370

205 126 2011 2010............................................................... 1,556 1,481............................................................. 196 97............................................................... 747 706............................................................. 715 666.................................................................... 383 366.................................................................... 339 328 2011 12HSBC Saudi Arabia Limited 60% 49% 2,700 2011 2010 1 1................................................................... 17,198 13,011.......................................................................... 90 1,589.......................................................................... (25) (38)...................................................................... 3,264 2,517.......................................................................... (304) (441).......................................................................... (96)...................................................................... 681 423................................ (710) 107.................................................................... 205 126 12 31................................................................. 20,399 17,198 2011 2010 1 1................................................................... 1,518 1,446......................................................................... 60.................................................................... 57 40.................................................................... (24) (28) 12 31 1................................................................ 1,551 1,518 1 3,10020103,200 24 2011 2010......................................................................... 21,338 22,406 PVIF 1........................................ 4,092 3,440............................................................... 3,604 4,076 1 PVIF181 29,034 29,922 371

24 2011 1 1.............. 14,885 124 1,115 65 12,465 4,316 32,970............................ (3) (46) (49)....................... (449) (35) (2) (1) (272) (759)...... (3,717) (231) (3,948)....................... (17) (2) (19) 2011 12 31............ 14,433 124 1,063 63 8,747 3,765 28,195 2011 1 1.............. (10,564) (10,564)...... 3,707 3,707 2011 12 31.............. (6,857) (6,857) 2011 12 31..................... 14,433 124 1,063 63 1,890 3,765 21,338 2010 1 1.............. 15,915 123 1,053 69 12,483 4,162 33,805............................ 16 16............................ (3) (17) (20)....................... (1,004) 1 52 (4) (1) 154 (802)....................... (23) (6) (29) 2010 12 31............ 14,885 124 1,115 65 12,465 4,316 32,970 2010 1 1 12 31................. (10,564) (10,564) 2010 12 31..................... 14,885 124 1,115 65 1,901 4,316 22,406 7 1 2(p) 2011 2011 12 31 2011 12 31 2011 7 1 2010 2011 20112012 2014 372

2011 2010 2011 2010 7 1 7 1 % % % %................. 4,794 10.0 4.7 4,017 11.0 3.0.......... 3,574 10.1 4.5 3,015 11.0 3.0..... 4,456 10.0 4.3 4,055 11.0 3.0................. 3,139 10.2 4.4 2,983 12.0 3.0............ 2,537 16.0 9.3 2,385 14.3 8.6............... 18,500 16,455 2011 7 1 50.912010 7 146.74 2010 2011 20102011 2011 2010 373

24 20122012 201414.5% 2010 2011 7 1 36 30 2011 12 31 492011 7 12011 12 31 2011 7 12011 12 31...140...160... 14.5% 12.4% 374

PVIF 2011 1 1.............. 68 636 5,202 1,065 1,987 503 9,461 1........................... 40 1,129 102 379 6 1,656............................ (91) (44) (102) (181) (1) (419).......................... (365) (133) (2) (500)....................... (6) (109) (40) (79) (14) (248)...... (2) (197) (22) (746) (46) (1,013)....................... 6 (18) (14) (6) 8 (24) 2011 12 31............ 60 591 5,598 856 1,354 454 8,913 2011 1 1.............. (52) (240) (2,958) (848) (1,143) (144) (5,385) 2.................... (4) (215) (609) (106) (212) (29) (1,175)............................ (386) (3) (1) (390)............................ 91 29 100 111 3 334.......................... 365 133 2 500....................... 3 44 31 29 107...... 2 50 18 563 36 669....................... (5) 28 3 3 2 31 2011 12 31............ (51) (369) (3,437) (672) (649) (131) (5,309) 2011 12 31..................... 9 222 2,161 184 705 323 3,604 2010 1 1.............. 68 689 4,400 954 1,988 502 8,601 1........................... 52 960 140 48 4 1,204............................ (105) (40) (15) (79) (239).......................... (70) (2) (72)....................... (68) (4) 30 27 (15)....................... 20 (8) (30) (18) 2010 12 31............ 68 636 5,202 1,065 1,987 503 9,461 2010 1 1.............. (50) (240) (2,511) (747) (955) (125) (4,628) 2.................... (5) (105) (596) (97) (243) (30) (1,076)............................ (12) (12)............................ 105 33 8 68 (1) 213.......................... 70 2 72....................... 1 48 1 (13) (1) 36....................... 2 10 (15) 13 10 2010 12 31............ (52) (240) (2,958) (848) (1,143) (144) (5,385) 2010 12 31..................... 16 396 2,244 217 844 359 4,076 1 2011 12 31201020 2 375

25 25 1 2 3 2011 1 1......... 3,952 1,673 4,004 12,529 53 22,211 4............... 353 114 180 1,183 19 1,849................ (15) 44 89 118....................... (188) (19) (279) (1,400) (1,886)........... (424) (19) (158) (260) (861)....................... (12) (35) 25 10 (12).................. (203) 1 15 (395) (1) (583).................. 74 41 (4) (88) 23 2011 12 31....... 3,537 1,800 3,872 11,579 71 20,859 2011 1 1......... (586) (307) (1,268) (8,506) (23) (10,690)........... (88) (51) (211) (1,157) (9) (1,516)....................... 60 2 262 1,319 1,643........... 133 13 80 138 364....................... 5 35 (34) (6)........... (13) (16) (25) (54).................. 18 (1) 8 260 1 286.................. (73) (23) (2) 68 3 (27) 2011 12 31....... (544) (332) (1,181) (7,909) (28) (9,994) 2011 12 31................ 2,993 1,468 2,691 3,670 43 10,865 2010 1 1......... 3,915 1,327 3,135 11,552 5,236 25,165 4............... 349 76 632 1,456 65 2,578................ 31 24 38 93 5...................... (307) (8) (82) (355) (5,113) (5,865)........... (73) (16) (3) (35) (127)....................... (47) (147) 199 (5).................. (47) (5) (17) (62) (135) (266).................. 131 422 102 (22) 633 2010 12 31....... 3,952 1,673 4,004 12,529 53 22,211 2010 1 1......... (450) (229) (1,065) (7,743) (1,876) (11,363)........... (91) (46) (203) (1,178) (150) (1,668) 5...................... 31 68 344 1,956 2,399........... 24 1 26 51....................... 23 20 (43)........... (22) 1 (24) (45).................. 5 2 5 54 45 111.................. (106) (54) (32) 15 2 (175) 2010 12 31....... (586) (307) (1,268) (8,506) (23) (10,690) 2010 12 31................ 3,366 1,366 2,736 4,023 30 11,521 1 70020101,100 2 2.120102.04 3 3,30020103,100 4 2011 12 315.1720105.93 5 Eversholt Rail Group 376

2011 2010 1 1................................. 1,944 (933) 1,824 (831)....................................... 171 181....................................... (269) 262 (81) 54........................... (139) (133)........................ (15).................................. (13) 2 (16)................. (154) 73.................................. (10) (1) 36 (23) 12 31............................... 1,669 (751) 1,944 (933) 12 31.................. 918 1,011 2011 1 1......................... 667 156 310 1,133................................ 242 242................................ (15) 44 89 118....................................... (47) (17) (64).................................. (22) 1 1 (20).................................. (80) 8 2 (70) 2011 12 31....................... 745 192 402 1,339 2010 1 1......................... 640 184 237 1,061................................ 240 240................................ 31 24 38 93....................................... (216) (2) (218)....................................... (42) 42.................................. (34) (1) (1) (36).................................. 6 (7) (6) (7) 2010 12 31....................... 667 156 310 1,133 12 31 DTZ 44% 56% 20112010 12 31 2011 12 316.182010 4.41 1,20020101,900 2011 12 312010 13.63201012.92 14.84201014.36 4002010600 377

2627 26 2011 12 31 % HSBC Asset Finance (UK) Limited........................ 100 2.65 1 HSBC Bank A.S........................................ 100 6.52 1 A 1 B................................ 70.03 8,800 0.30.................................. 100 7.97 1 1 0.01 2 0.01............................................... 99.99 3.37 5.00.................................. 100 100 1 HSBC Life (UK) Limited................................. 100 9,400 1 HSBC Private Banking Holdings (Suisse) S.A................ 100 13.63 1,000 HSBC Trinkaus & Burkhardt AG.......................... 80.40 2,800 Marks and Spencer Retail Financial Services Holdings Limited...................................... 100 6,700 1 1...................................... 62.14 95.59 5.00............................... 100 12.98 1,000........................... 100 12.78 1.00.............................. 100 301.90 2.50 1.00 CIP 2 1.00 CRP 3 1.00 NIP 4.................................. 100 7.51............................... 5 100 108.00 1.00.............................. 100 1.15 0.50.................................. 100 9.31 1.00 1.00 CRP 3.......................................... 94.53 15.11 84.00................................ 100 3,000 1.00......................................... 100 15.71 1 NPV 6 2 NPV 6 NPV........................................... 100 200 100.................................. 100 7 0.01 HSBC Securities (USA) Inc.............................. 100 7 0.05......................................... 99.99 12.44 1.00 -A 1.00 -B........................................... 100 55.69 HSBC Mexico, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC............................... 99.99 52.61 2.00......................................... 100 1,000 1.00 1 5 2 CIP 6 NPV 3 CRP 7 100 4 NIP 30 34 38 378

12 31 6 30 2011 2010 50% 2011 2010 Barion Funding Limited...................... 3.8 4.5 Bryant Park Funding LLC.................... 2.8 3.0 HSBC Affinity Corporation I.................. 4.2 HSBC Funding Inc V........................ 5.4 HSBC Home Equity Loan Corporation I......... 2.1 2.8 HSBC Home Equity Loan Corporation II........ 2.4 2.8 HSBC Receivables Funding, Inc. I............. 3.7 HSBC Receivables Funding, Inc. II............. 1.9 2.0 Malachite Funding Limited................... 3.6 3.9 Mazarin Funding Limited.................... 8.0 10.3 Metrix Funding Ltd......................... 0.7 1.4 Metrix Securities plc........................ 0.4 1.0 Regency Assets Limited..................... 7.5 6.3 Solitaire Funding Ltd........................ 12.5 13.5 141 401 50% 292 27 2011 2010................................................... 38,903 530 : 655 1,461................................................. 589 1,333............................................................. 66 128 39,558 1,991 2011 12 31 195 379

512 60 621 60 1,253 27 2829 30 2011 12 31........................... 3 295 298............................... 548 6 554............................... 2,506 2,441 29,137 1,021 35,105............................... 482 482..................... 28 10 582 6 626......................... 256 10 318 1 585............. 512 60 621 60 1,253............................... 4,335 2,521 30,658 1,389 38,903 31............................... 206 206............................... 2,828 15,144 2,166 20,138........................... 803 803......................... 152 149 301............. 196 12 470 74 752............................... 3,382 15,156 470 3,192 22,200............. (7) (7)........................... 2012 4 2012 3 2012 2............................... 12 2011 2010............................................................... 19,824 18,446 32................................... 1,801 1,865......................................................... 11,010 10,116....................................................... 2,497 43........................................................... 13,567 10,790 48,699 41,260 380

28 2011 2010........................................................ 47,506 38,678........................................................ 123,344 125,684 30...................................... 29,987 33,726.......................................... 64,355 102,615 265,192 300,703 2011 12 315.992010 1.42 29 2011 2010.............................................. 517 6,527........................................ 11,399 11,700 30.......................................... 52,197 46,091 34................................................ 17,503 19,395 34................................................ 4,108 4,420 85,724 88,133 2011 12 31 13.77 2010 16.31 51.18 201012.79 2011 2010 30.................................................. 5,753 34.................................................. 11,443 12,029............................................ 3,955 4,259 21,151 16,288 2011 12 31 7.22 2010 8.55 20.96 20104.39 30 2011 2010.................................................. 151,367 162,948.............................................. 61,830 62,270 213,197 225,218 28........................................ (29,987) (33,726) 29.......................... (52,197) (46,091) 131,013 145,401 381

30 31 32 12 31 2011 2010 0.01 3.992056.................................. 8,259 6,875 4.00 4.992013.................................. 1,307 1,956 5.00 5.992019.................................. 332 387 8.00 9.992028.................................. 276 394 0.01 3.992026.................................. 38,346 39,596 4.00 4.992046.................................. 15,515 12,854 5.00 5.992041.................................. 17,525 19,011 6.00 6.992046.................................. 7,056 11,008 7.00 7.992026.................................. 3,083 3,124 8.00 9.992036.................................. 379 254 10.00 2025................................. 437 337 92,515 95,796 0.01 13.992068....................... 7,279 8,448 FHLB 0.01 0.992036........................ 1,000 1,000 0.01 12.992057........... 47,393 53,301 55,672 62,749........................................................ 4........................................ 3,180 4,399 3,180 4,403 151,367 162,948 2011 2010........................................................ 8,366 2,668 29.......................... (5,753) 2,613 2,668 3.00 3.992016.................................. 1,177 4.00 4.992022.................................. 2,573 1,664 5.00 5.992021.................................. 2,730 6.00 6.992042.................................. 1,886 1,004 8,366 2,668 382

31 2011 2010 1..................................... 22,200 86 1 380 2011 2010 2011 2010............ 720 840 42.............. 428 454 11.... 885 1,203 885 1,203................................ 11,009 10,123.................................. 14,925 15,344 26 29 32 27,967 27,964 911 1,232 2011 12 31................................... 621 (112) 509....................................... 510 (91) 419............................... 449 (51) 398............................................... 55 4 59 1,635 (250) 1,385....................................... 26,926 (649) 26,277 1........................ 21,488 21,488......................................... 11,210 (903) 10,307 59,624 (1,552) 58,072 61,259 (1,802) 59,457 2010 12 31................................... 727 (129) 598....................................... 879 (230) 649............................... 745 (75) 670............................................... 105 2 107 2,456 (432) 2,024....................................... 23,583 (673) 22,910 1........................ 22,074 22,074......................................... 10,496 (760) 9,736 56,153 (1,433) 54,720 58,609 (1,865) 56,744 1 IFRS 4 383

32 2011 1 1.......................................... 727 (129) 598........... 31 (2) 29................................... 1,175 (182) 993................................... (1,144) 180 (964)................................. (137) 19 (118) 12 31........................................ 621 (112) 509 1 1.......................................... 1,624 (305) 1,319..................................... 879 (230) 649............................. 745 (75) 670................................. (631) 81 (550)................................. 481 (99) 382............................... (46) 14 (32)................................. (469) 167 (302) 12 31........................................ 959 (142) 817..................................... 510 (91) 419............................. 449 (51) 398............................................... 55 4 59................................. 1,635 (250) 1,385 2010 1 1.......................................... 833 (135) 698........... (83) (12) (95)................................... 1,192 (172) 1,020................................... (1,275) 160 (1,115)................................. (23) 18 (5) 12 31........................................ 727 (129) 598 1 1.......................................... 1,717 (327) 1,390..................................... 1,032 (245) 787............................. 685 (82) 603................................. (815) 114 (701)................................. 519 (111) 408............................... 106 11 117................................. 97 8 105 12 31........................................ 1,624 (305) 1,319..................................... 879 (230) 649............................. 745 (75) 670............................................... 105 2 107................................. 2,456 (432) 2,024 384

2011 1 1.......................................... 23,583 (673) 22,910........................................... (1,793) 164 (1,629)................................... 5,729 (254) 5,475................................. (593) 114 (479) 12 31........................................ 26,926 (649) 26,277 1 1.......................................... 22,074 22,074........................................... (2,628) (2,628)................................... 3,005 3,005 1................................ (963) (963) 12 31........................................ 21,488 21,488 1 1.......................................... 10,496 (760) 9,736........................................... (1,129) 56 (1,073)................................... 2,462 (111) 2,351 2................................ (619) (88) (707) 12 31........................................ 11,210 (903) 10,307..................................... 59,624 (1,552) 58,072 2010 1 1.......................................... 20,979 (771) 20,208........................................... (1,355) 143 (1,212)................................... 5,108 (201) 4,907................................. (1,149) 156 (993) 12 31........................................ 23,583 (673) 22,910 1 1.......................................... 21,014 21,014........................................... (2,023) (2,023)................................... 3,716 3,716 1................................ (633) (633) 12 31........................................ 22,074 22,074 1 1.......................................... 8,986 (831) 8,155........................................... (507) 45 (462)................................... 2,520 99 2,619 2................................ (503) (73) (576) 12 31........................................ 10,496 (760) 9,736..................................... 56,153 (1,433) 54,720 1 2 385

3334 33 2011 1 1............................ 21 405 969 442 301 2,138......................... 221 14 896 1,078 184 2,393............................... (58) (5) (367) (386) (71) (887)..................................... (14) (41) (28) (87) (86) (256)................................... 1 56 5 62......................... (1) (168) (53) 20 76 (126) 2011 12 31.......................... 169 206 1,473 1,067 409 3,324 2010 1 1............................ 25 449 744 401 346 1,965......................... 31 46 294 196 197 764............................... (28) (29) (202) (94) (211) (564)..................................... (8) (8) (35) (81) (132)................................... 38 10 48......................... 1 (53) 130 (61) 40 57 2010 12 31.......................... 21 405 969 442 301 2,138 44 2.57 44 7.85 2011 4 20 PS 10/12 PS 10/12 2011 12 31 5.06 20103,700 386

34 2011 2010.................................................. 30,606 33,387.................................................... 25,543 28,309.................................................... 5,063 5,078 29...................................... 21,611 23,815.................................................... 17,503 19,395.................................................... 4,108 4,420 52,217 57,202...................................................... 21,456 22,878.............................................. 30,761 34,324 52,217 57,202 2011 2010 390................................ 21,456 22,878 1 12.5 4.61.................. 1,163 1,185 9 10.176 2......... 891 891 14 5.3687................ 1,693 1,843 7.5 5.13.................. 872 958 6 8.03.................. 776 801 5 8.208................. 771 772 6,166 6,450 2 7 5.844................. 1,084 1,087 3 5.862................. 378 434 1,462 1,521 3.5 2017 3........... 550 562 5 2020 4.75 4............... 759 774 5 2020 5................. 550 592 3.5 2023 5.00 6............... 533 547 3 2023 6.5........................... 463 462 3 2025 7.65.......................... 374 342 3.5 2030 5.375 7.......... 493 510 5 2033 5.375......................... 678 729 2.25 2041 6.25.......................... 346 347 6 2046 4.75.......................... 917 919 7.5.......................... 750 750 5.......................... 500 500 3 3................... 300 300 8 2016 8................. 1,070 6 2016 4.25 8............... 823 3 2011 6.95.......................... 310 2................. 617 662 7,830 10,199 387

34 388 2011 2010 3 2017 9................. 300 300 2 2020.................. 203 204 4.......................... 406 407 4 2................ 403 403 4 3................ 400 400 4.5 2016 10................ 450 2 2016 11................ 204 2................. 362 368 2,074 2,736 10 2014 4.625......................... 1,009 1,009 5 2017 6.00.......................... 505 526 12.5 2020 4.875......................... 1,259 1,252 7.5 2020 5.00.......................... 744 747 29.39 2021 6.676 12................... 2,177 2,174 2 2026 7.808......................... 200 200 2 2027 8.38.......................... 200 200 10 2034 5.875......................... 951 971 10 2035 5.911 13................... 994 994 7.5 2035 5.625......................... 712 728 7 2039 7.00.......................... 681 694 2.5 2097 7.20.......................... 214 213 2................. 698 780 10,344 10,488 3.83 2015.............................. 206 231 5 2016.............................. 268 301 2.5 2019........................ 232 248 2 2021 4.94.......................... 195 200 4 2022 4.80.......................... 417 417 2................. 1,567 1,533 2,885 2,930 52,217 57,202 10.176 1 389 (a) 2 389 (b) 3 2017 5.752012 6 1.70 4 2020 4.752015 90.82 5 2020 2015 90.5 6 2023 5.002018 3 1.80 7 2030 5.3752025 111.5 8 2011 3 8 20166 2016 4.25 9 2017 2012 70.5 10 2011 7 2016 11 2011 5 2016 12 25% 2021 6.676 13 2035 2015 11 1.926 3 7 9 13

(a) Jersey 2013 2030 2014 2016 2012 2015 (i)(ii) (b) Jersey 2031 2020 (i)2048 112049 4 (ii) (iii) (ii) 389

3435 2011 2010................................................... 12,450 13,313 29....................................... 15,398 16,288 27,848 29,601 2011 2010 14 2012 5.25......................... 1,438 1,492 10 2012 5.375........................ 1,327 1,405 16 2018 6.25......................... 2,073 2,142 2.5 2018 9.875 1............. 445 467 17.5 2019 6.0.......................... 2,388 2,578 7 2020 3.625 2............. 869 928 9 2022 6.375 3............. 1,416 1,493 6.5 2027 5.75......................... 926 971 6.5 2028 6.75......................... 997 1,000 4.88 2032 7.625........................ 578 582 2.22 2032 7.35......................... 257 258 20 2036 6.5.......................... 2,048 2,050 25 2037 6.5.......................... 2,634 2,695 7.5 2038 7.0.......................... 1,205 1,210 15 2038 6.8.......................... 1,486 1,485 9 2040 6.0.......................... 1,369 1,372 7.5 2016 4................ 750 21,456 22,878 12.5 2043 4.61 HSBC Capital Funding (Dollar 2) LP............. 1,223 1,274 9 2040 10.176 HSBC Capital Funding (Dollar 1) LP............. 891 891 14 2043 5.3687 HSBC Capital Funding (Euro 2) LP.............. 1,791 1,957 7.5 2044 5.13 HSBC Capital Funding (Euro 3) LP.............. 941 1,028 6 2040 8.03 HSBC Capital Funding (Euro 1) LP.............. 775 801 5 2040 8.208 HSBC Capital Funding (Sterling 1) LP............ 771 772 6,392 6,723 27,848 29,601 1 2018 9.8752013 4 (i)9.875(ii) 2.52013 41998 4 2 2020 3.6252015 6 0.93 2015 6 3 2022 6.3752017 101.3 2017 10 4 2011 10 7.5 2016 390

35 2011 12 31 2010 12 31 1 1 1 1. 2,581 28,275 30,856 3,030 33,981 37,011....................... 171,132 9,855 180,987 200,098 8,173 208,271....................... 409,935 530,494 940,429 424,713 533,653 958,366....................... 152,095 247,949 400,044 149,954 250,801 400,755........... 20,936 15,919 36,855.................. 22,878 5,557 28,435 19,417 5,519 24,936 779,557 838,049 1,617,606 797,212 832,127 1,629,339....................... 101,371 11,451 112,822 105,462 5,122 110,584....................... 1,214,190 39,735 1,253,925 1,181,095 46,630 1,227,725. 9,260 76,464 85,724 10,141 77,992 88,133................ 74,129 56,884 131,013 86,096 59,305 145,401................... 20,063 1,033 21,096.................. 25,177 6,304 31,481 24,865 4,792 29,657....................... 810 29,796 30,606 791 32,596 33,387 1,445,000 221,667 1,666,667 1,408,450 226,437 1,634,887 2011 12 31 2010 12 31 1 1 1 1............. 11,826 16,222 28,048 13,691 7,547 21,238....................... 1,078 1,078 2,025 2,025.................. 1 1 1 1 11,827 17,300 29,127 13,692 9,572 23,264......... 1,165 1,314 2,479 1,480 1,452 2,932. 2,765 18,386 21,151 16,288 16,288................ 2,613 2,613 2,668 2,668.................. 1,460 1,460 1,782 1,782....................... 12,450 12,450 13,313 13,313 5,390 34,763 40,153 3,262 33,721 36,983 391

363738 36 201 2011 2010............................................................ 22,668 23,247............................................................ 22,400 23,222...................................................... 21,234 17,454...................................................... 6,097 6,004...................................................... 5,319 5,991............................................................ 4,848 4,012............................................................ 4,828 2,659........................................................ 3,967 4,754.................................................... 2,650 2,469 1....................................................... 2,133 3,357................................................ 1,965 907............................................................ 1,829 1,619...................................................... 1,565 1,854............................................................ 1,457 1,429............................................................ 1,455 1,381............................................................ 1,411 1,456.......................................................... 1,235 1,190...................................................... 984 881.......................................................... 692 642.......................................................... 686 621........................................................ 670 596...................................................... 663 635...................................................... 608 510 5............................................. 4,651 4,413............................................................ 116,015 111,303 1 20117 2010 2011 12 31 5% 21.46201022.13 37 12 31 2011 2010.......................................... 5,185 5,859........................................................ 19,247 11,773........................................................ 81,570 60,500........................................................ 210,255 214,126............................................................ 6,916 7,216............................................................ 1,003 931 324,176 300,405.................................. 12.7% 12.2% 392

IFRS160 12 31 2011 2010.......................................................... 58,086 53,472............................................................ 245,171 227,177 303,257 280,649 3,022.8520103,339.21 1,886.8220102,054.7 38 2011 2010.......................... 4,656 4,522............................................ 2,712 2,726 7,368 7,248 2011 2010 5.75 6.36B 1................ 559 559 5.18 F 2.................. 518 518 3.74 G 3.................. 374 374 3.74 6.5H 3................. 374 374 1.5 D 25% 4............ 150 150 1.5 5................................ 150 150 2.5 5 1E 6...... 245 251 1.75 1C 7.......... 171 175 1.75 1D 7................ 171 175 2,712 2,726 1 B2010 6 24 2 F2010 4 7 3 G H2011 1 12011 7 1 4 1999 7 1 5 2007 10 1 6 E2014 6 30 6 30 7 C D2010 6 302010 12 31 393

39 39 2011 2010 1................................................. 8,934 8,843 0.5 2011 1 1................................................. 17,686,155,902 8,843.................................. 11,354,577 6.................................................... 170,575,167 85 2011 12 31............................................... 17,868,085,646 8,934 2010 1 1................................................. 17,408,206,768 8,705.................................. 25,001,734 12.................................................... 252,947,400 126 2010 12 31............................................... 17,686,155,902 8,843 1 0.01 2011 1 12011 12 31............................... 1,450,000 2010 1 12010 12 31............................... 1,450,000 2010 12 16 0.01 2010 12 2920110.01 394

2008 4 98,8008.125 252221.33 2008 7 15 2013 4 15 0.01 24.99 2010 61.5282 22538 2 37.182008 2 2010 9 15 2 2015 12 15 2 0.01 24.99 9 2011 12 31................... 215,992,204 2012 2017 3.3116 7.9911 45,422,511 2012 2017 37.8797 94.5057 3,176,265 2012 2017 3.6361 9.5912 9,752,066 2012 2017 4.8876 12.0958 2010 12 31.................. 249,242,968 2011 2016 3.3116 8.4024 47,428,892 2011 2016 37.8797 94.5057 3,128,508 2011 2016 3.6361 9.5912 10,899,415 2011 2016 4.8876 12.0958 2009 12 31 1.................. 270,742,989 2010 2015 3.3116 8.4024 50,938,242 2010 2015 37.8797 94.5057 3,283,710 2010 2015 3.6361 9.5912 12,073,216 2010 2015 4.8876 12.0958 1 2009 2000 HSBC Private Bank France 395

3940 HSBC Private Bank France HSBC Private Bank France HSBC Private Bank France HSBC Private Bank France 2.099984 2011 10 31HSBC Private Bank FranceHSBC Private Bank France 45 HSBC Private Bank France 7 2011 10 31 13.499897 2011 10 31 HSBC Private Bank France20104,420 20109,2812011141,525HSBC Private Bank France 2010 2011 10 31 2011 12 312001 (Private Banking France)989,502 2010989,502 2011 12 31 1.................. 22,645 2012 142.84 2010 12 31................... 287,100 2011 2012 20.80 22.22 2009 12 31................... 291,520 2010 2012 12.44 22.22 1 HSBC Private Bank France2011 10 31 2003 2.6751 2011 2010306,9642003 The HSBC (Household) Employee Benefit Trust 2010306,9642011 8,688,28820106,681,169 2011 12 312003 The HSBC (Household) Employee Benefit Trust 2,335,31520102,335,3151,45520101,455 5 2011 12 31..................... 2,429,538 2012 9.29 2010 12 31..................... 11,117,826 2011 2012 9.29 18.62 2009 12 31 1.................... 18,105,959 2010 2012 9.29 18.62 1 2009 396

2004 40 2011 20104,7812004 2011 1,308,1262010137,8882011 12 3120042,108,83020102,108,830 2011 12 31.................... 1,030,907 2012 2013 9.32 15.99 2010 12 31..................... 2,339,033 2011 2013 9.32 15.99 2009 12 31 1.................... 2,481,702 2010 2013 6.13 15.99 1 2009 2011 12 31 2011 538,265,4102010558,187,3262011 12 31 31,840,893201079,541,700 40 2011 2010 2009 2011 2010.................... 3,135 2,801 2,538 1 2............ (208) (188)........................ (118) (93) 24.................. 1,162 812 683 57 28...................... 13,553 15,059 27,378................................ 2,199 680 669........................ 808 105 358 113.......... (140) 526 192.................. (513) (815) (458) 19 42 19,878 18,887 31,384 77 185 397

40 41 2011 2010 2009 2011 2010.............. (4,548) 1,974............ 1,907 457 3,198 96 (5).... 27,058 60,337 15,388 (1,001) 1,119...................... 2,618 5,213 (30,354)...................... (30,853) (79,283) 6,149.... (583) 154 (8,911)...................... (7,559) (145) (6,273) (36) 3 (7,412) (13,267) (20,803) (5,489) 3,091 2011 2010 2009 2011 2010............ (800) 716 (2,258) 258 147...................... 2,238 (14,288) (5,216)...................... 48,401 68,691 41,983................ (14,388) (1,495) (32,797) (45) (171).... 5,468 5,659 7,430 (475) (621)...................... 3,093 (17,011) 5,503 (152) (1,109) 44,012 42,272 14,645 (414) (1,754) 2011 2010 2009 2011 2010.............. 316 459.............. 129,902 57,383 60,655.............. 8,208 6,072 6,395 1............... 169,858 189,197 160,673 3.................. 26,226 28,087 28,777.......... (8,745) (6,663) (5,734) 325,449 274,076 250,766 316 459 2011 2010 2009 2011 2010............................ (23,125) (21,405) (29,030) (2,392) (2,363)............................ 66,734 63,696 74,062 1,559 1,405............................ 602 563 1,023 6,874 7,008 2011 12 31 393.452010 374.13 258.192010287.8 398

41 2011 2010 2011 2010............................... 75,672 71,157 49,402 46,988....................... 259 166 75,931 71,323 49,402 46,988........... 13,498 12,051......... 87 30..................... 641,319 590,432 1,810 2,720 654,904 602,513 1,810 2,720 44 2011 12 31 2011 12 31 2010 12 31 1 2.......................... 26,830 36,800 29,208 36,800 3...................... 12,494 12,602 20,228 10,188........................... 36,348 21,721 1 75,672 49,402 71,157 46,988 2 3 IAS 39 399

414243 2011 12 31 185286 2012 4 1 2012 2013 2012 2013 2011 12 312012 2013 8,70020102010 11 2011 12 1.44 2012 2013 2012 4 1 3992011 12 317.15 201010.71 2.7220102.87 2011 12 31343.112010256.4 42 2011 12 31 2010 12 31 1 1............. 98 (26) 72 107 (20) 87 1 5..... 216 (99) 117 187 (92) 95 5............. 362 (92) 270 390 (118) 272 676 (217) 459 684 (230) 454 1 3,100 31 2011 12 31 4.1320104.36 400

2011 12 31 2011 12 31 2010 12 31 1.......................... 1,130 18 920 23 1 5.................. 2,656 18 2,663 37 5.......................... 2,496 2,614 6,282 36 6,197 60 2011 12 31 1,70020102,100 20119.7320108.882009 11 9.5220108.6920098.33 2,00020101,80020091,600 100 201010020092.51 2011 12 31 2010 12 31 1............. 3,766 (459) 3,307 3,002 (344) 2,658 1 5..... 8,618 (1,055) 7,563 8,940 (813) 8,127 5............. 5,969 (1,204) 4,765 6,629 (1,462) 5,167 18,353 (2,718) 15,635 18,571 (2,619) 15,952 2011 12 31 2.6720102.43 2,50020101,100 2011 2010 43 1e 401

43 2011 12 31............................... 0.8 0.3 0.3 1.4....................... 0.1 0.5 0.2 0.4 1.2......... 0.1 6.5 6.6........................... 0.1 0.1........................... 1.2 1.2........................... 10.5 8.0 18.5........................... 25.8 25.8........................... 1.6 1.6 38.9 10.1 0.2 7.2 56.4 2010 12 31............................... 1.0 0.7 0.3 2.0....................... 0.1 0.6 0.4 0.5 1.6......... 0.1 6.4 6.5........................... 0.3 0.3........................... 1.4 1.4........................... 8.4 22.2 30.6........................... 30.5 0.1 30.6........................... 1.6 0.4 0.4 2.4 41.7 25.7 0.4 7.6 75.4 2011 12 31............... 38.9 27.7 37.1 48.5..... 27.9 27.4 22.1 33.5....... 11.0 0.3 15.0 15.0............. 10.1 1.6 0.1 3.8 8.1........... 0.2 0.2 0.2 73.9 0.9 0.9 54.4 0.7 0.7................. 0.2 0.2 0.2 19.5 0.2 0.2..... 7.2 6.9 6.9 260.8 1.7 1.7................... 19.4 3.7 4.6 56.4 36.4 37.2 59.4 362.2 6.3 7.2 402

2010 12 31............... 41.7 28.6 38.3 50.5..... 32.2 28.6 25.6 37.8....... 9.5 12.7 12.7............. 25.7 1.9 0.1 4.7 9.9........... 0.4 0.4 0.4 95.8 0.7 0.7 74.9 0.5 0.5................. 0.4 0.4 0.4 20.9 0.2 0.2..... 7.6 6.9 6.9 274.7 1.7 1.7......... 19.0 9.4 3.7 75.4 37.8 38.4 62.5 399.4 11.8 6.1 SIC SolitaireABS2011 12 31 Solitaire106 2010117152 Mazarin Barion Malachite 2008SIV Solitaire Solitaire CP100%2011 12 31 Solitaire 93201076 2011 12 311562010 12 31168 Mazarin Mazarin 2011 12 31 952010116Mazarin 2011 12 31Mazarin 1.3% 20101.3% 1,70020101,700 201060 Barion Malachite 2011 12 3184201094 2011 12 313.7% 20103.7% 3,50020103,500 1102010200 403

4344 Solitaire 2011 12 31.................. 5.9 4.1 4.9 2.0 2010 12 31.................. 5.1 4.0 4.4 1.8 2011 12 31 11201011 2011 12 31 86201086 404

IFRS 194 41 155 156 44 2011 12 31 33 2002 8 200246 Household International Jaffe v Household International Inc, et al No 2. C 5893 N.D.Ill 2002 8 19 19341999 7 302002 10 11Household International Household Household2002 2009 4 2010 11 22 2010 3 24 32 2011 12 22 45,921 22.3 2012 1 27 2012 4 405

44 2010 11 22 35 2008 12Bernard L. Madoff Bernard L. Madoff Investment Securities LLC 150 2008 11 3084 40 2010 7 2011 8 2011 11 Thema International Fund plc 5,2506,2502011 12 Thema 2010 12 90 406

2011 7 2011 12 2011 9 2009 102011 7 Fairfield Sentry Limited Fairfield Sigma LimitedFairfield Fairfield Fairfield 2011 4 2009 12010 12 407

44 49 2011 2.57 HSBC Securities (USA) Inc.RMBS 2011 9 17 2005 2008 2005 1 2010 10 408

2011 4 2011 4 409

45 45 2011 2010 2009....................................... 34 39 22......................................... 2 3 3................................... 7 1................................. 53 49 27 96 92 52 20064132011 12 31 2011 2010......................................................... 8 9 IAS 24 2011 2010 12 31 12 31 1......................... 112 120 901 1,681............................... 12 12 27 31 1 410

12 31 2011 2010................... 545 602................................... 15,384 13,395................................... 2036 6.5...................... 300 16,229 13,997 23 2011 2010 12 31 12 31 1 1 1 1........................... 6 5 5 5......................... 459 441 514 412........................... 16......................... 3,117 2,569 2,248 1,702 3,582 3,015 2,783 2,119................... 195 133 151 134................... 587 475 700 527 782 608 851 661............................... 184 92 60 43 1 2011 12 31 46201047 2,000 20101,70012201018 3002010400 2011 12 312492010229 562010 22 69201033 2010 411

4546 2010 617.6 26.38 2011 12 1.842.86 2011 123,400 HSBC Asia Holdings BV 2011 12 3117201018 2.9720107,700 26 2011 2010 12 31 12 31 1 1 1 1........................... 471 316 459 459........................... 4,220 3,568 3,219 2,327............................... 28,821 28,048 23,212 21,238........................... 2,093 1,078 2,606 2,025................... 93,008 90,621 92,899 92,899................... 128,613 123,631 122,395 118,948............. 3,129 2,479 4,580 2,932........................... 1,181 1,067 1,677 827................... 2,609 2,437 3,907 2,464............... 4,627 3,955 4,507 4,259................... 11,546 9,938 14,671 10,482............................... 49,527 49,402 46,988 46,988............................... 2,753 1,810 3,240 2,720 1 6,30020101.6 20105.06 7 412

46 2012 1 24 Banco Davivienda S.A.Davivienda 8.01 20122011 12 31 27 2011 12 3120110.1425.15 2012 2 27 413

2011.............. 414 2012................. 414......................... 415..................... 415..... 416.................. 416......................... 417....................... 417.............. 417....................... 418............ 419....... 422....................... 423 2011 20110.14 2012 3 27........................................................................................................................................................................................................................................................ 1................................................... 20112011......................................................................................................................... CREST....................................................... 2012 2 27 2012 3 14 2012 3 14 2012 3 15 2012 3 16 2012 3 27 2012 4 19 2012 4 23 2012 5 2 1 2012 2012 0.09 2012 2012........................... 2012 4 30 2012 7 30 2012 10 9 2013 3 4................... 2012 5 16 2012 8 15 2012 10 24 2013 3 20......... 2012 5 16 2012 8 15 2012 10 24 2013 3 20....................... 2012 5 17 2012 8 16 2012 10 25 2013 3 21 1.................. 2012 5 18 2012 8 17 2012 10 26 2013 3 22........................... 2012 7 5 2012 10 4 2012 12 12 2013 5 8 1 414

2011 12 31 1 100..................................................... 34,733 1,067,341 101 400................................................... 30,943 7,573,632 401 500................................................... 8,040 3,622,372 501 1,000................................................. 32,597 23,768,949 1,001 5,000................................................ 72,770 170,449,966 5,001 10,000............................................... 18,839 132,925,448 10,001 20,000.............................................. 10,923 152,501,184 20,001 50,000.............................................. 6,638 203,900,430 50,001 200,000............................................. 3,239 300,236,172 200,001 500,000............................................ 728 226,085,756 500,001................................................. 1,054 16,645,954,396........................................................... 220,504 17,868,085,646 2012 2012 5 2511Barbican Hall Barbican Centre, London EC2 2012 5 214 30 1 2011 1 2 1 2010................................ 8,402,552,510 121,753,797 8,933,799 2 2010................................ 6,652,053,048 1,533,867,244 345,803,377 3 (a)................................................. 8,486,056,759 42,942,731 4,216,052 (b)............................................... 8,504,179,153 24,913,796 4,042,906 (c)............................................... 8,483,733,987 45,080,957 4,016,464 (d)............................................... 8,422,716,423 106,361,370 4,171,828 (e)............................................... 8,409,921,019 28,560,255 94,165,150 (f)............................................... 7,652,721,692 782,284,813 97,589,253 (g)............................................... 8,510,224,707 19,041,066 3,951,542 (h)............................................... 8,508,743,721 19,690,410 4,068,563 (i)............................................... 8,471,725,040 57,260,985 4,166,213 (j)............................................... 8,422,582,981 106,557,176 4,082,503 (k)............................................... 8,485,476,787 43,437,834 4,288,262 (l)............................................... 8,514,104,374 14,924,509 4,046,710 (m)............................................... 7,528,102,732 1,000,850,178 4,176,157 (n)................................................. 8,485,387,759 43,412,993 4,414,399 (o)........................................... 8,509,368,189 18,917,076 4,756,190 (p)............................................. 7,811,758,522 639,498,922 80,247,625 (q)........................................... 8,502,895,120 25,794,017 4,326,166 4............ 8,471,110,207 34,535,501 27,595,572 5........................................ 8,361,978,479 164,736,911 6,526,785 6.......................... 8,410,136,124 114,104,282 9,000,469 7 2011.................................. 7,232,592,954 1,139,440,811 157,713,821 8.............................. 8,339,832,648 49,875,814 142,372,789 9 14........................ 7,757,094,552 769,200,534 6,472,597 1 2 415

2012 5 82012 11 5 2012 6 30 2012 7 30 Computershare Investor Services PLC The Pavilions Bridgwater Road Bristol BS99 6ZZ United Kingdom 44 (0) 870 702 0137 www.investorcentre.co.uk/contactus 183 17 1712-1716 852 2862 8555 hsbc.ecom@computershare.com.hk Investors Relations Team HSBC Bank Bermuda Limited 6 Front Street Hamilton HM 11 Bermuda 1 441 299 6737 hbbm.shareholder.services@hsbc.bm www.investorcentre.co.uk www.computershare.com/hk/investors www.computershare.com/investor/bm The Bank of New York Mellon PO Box 358516 Pittsburgh, PA 15252-8516 USA 1 877 283 5786 1 201 680 6825 shrrelations@bnymellon.com www.bnymellon.com/shareowner Euroclear NYSE Euronext HSBC France 103, avenue des Champs Elysées 75419 Paris Cedex 08 France 33 1 40 70 22 56 ost-agence-des-titres-hsbc-reims.hbfr-do@hsbc.fr www.hsbc.fr 2011 Communications 1 Employee Communications HSBC Holdings plc HSBC North America 8 Canada Square 26525 N Riverwoods Boulevard London E14 5HQ Mettawa, Illinois 60045 United Kingdom USA 416

www.hsbc.com/ecomms 2012 3 27 2011 Computershare Investor Services PLC 183 The Pavilions 17 Bridgwater Road 1712-1716 Bristol BS99 6ZZ United Kingdom HSBA Euronext HSB 5 HSBC HBC Manager Investor Relations SVP Investor Relations 1 HSBC Holdings plc HSBC North America Holdings Inc. 8 Canada Square 26525 N Riverwoods Boulevard London E14 5HQ Mettawa, Illinois 60045 United Kingdom USA 44 (0)20 7991 8041 1 224 544 4400 852 2822 4908 44 (0)845 587 0225 1 224 552 4400 852 3418 4469 investorrelations@hsbc.com investor.relations.usa@us.hsbc.com investorrelations@hsbc.com.hk 2011 www.hsbc.com www.sec.gov Office of Investor Education and Advocacy, 100 F Street N.E., Washington, DC 20549-0123 PublicInfo@sec.gov (202) 551 8090 www.nyse.com(1) 212 656 3000 417

HSBC Latin America Holdings (UK) Ltd HSBC Finance (Netherlands) HSBC Overseas Holdings (UK) Ltd 99.99% HSBC Europe BV 99.99% HSBC México S.A., Institución de Banca Múltiple, Grupo Financiero HSBC HSBC Latin America B.V. 99.99% HSBC Holdings BV 94.53% HSBC Investments (North America) Inc. HSBC Bank A.S. HSBC Asset Finance (UK) Ltd 70.03% HSBC Asia Holdings (UK) Ltd HSBC Life (UK) Limited Marks and Spencer Retail Financial Services Holdings Limited HSBC Middle East Holdings BV HSBC Asia Holdings BV HSBC Securities (USA) Inc. 62.14% HSBC Germany Holdings GmbH 80.4% HSBC Trinkaus & Burkhardt AG HSBC Private Banking Holdings (Suisse) S.A. 418

419 10% 32.5% 42.5% 2010 2011 2011 3 306 18 3112 7 15% 0.5 1991 4 1991 1991 0.5% 0.5% CREST 0.5%

CREST CREST C-569/07 Vidacos Nominees 1.5% 10% 2013 15% 61 2013 15% 420

(i) (ii) (iii) 1.5% 421

2011 422

A ABS 1 ADR ADS ALCO B Bao Viet Barion 1 2 1 3 1 BBA C CD CDS 1 CDO 1 CDPC CP 1 CRR 1 CVA D DPF E EBA EL F G 20 Ginnie Mae Bao Viet Holdings Barion Funding Limited 1988 2006 HSBC Serviços e Participações Limitada (Dodd-Frank Wall Street Reform & Consumer Protection Act) (European Banking Authority) 20 2011 423

H HFC HIBOR HSBC Afore HSBC Assurances I IAS IASB ICB IFRIC IFRS IRB 1 K KPMG L LGD 1 LIBOR LTV M Malachite Mazarin MBS 1 1 N O OTC 1 P PD 1 PPI PVIF HFC Bank Limited HSBC Afore S.A. de C.V. HSBC Assurances Erisa S.A. Erisa I.A.R.D. Erisa HSBC Bank plc Midland Bank plc HSBC Bank Argentina S.A. HSBC Bank Bermuda Limited The Bank of Bermuda Limited HSBC Bank Malaysia Berhad HSBC Bank Middle East Limited The British Bank of the Middle East HSBC Bank USA, N.A. HSBC Bank USA, Inc. HSBC Finance Corporation Household International, Inc. CCF S.A. HSBC México S.A.Grupo Financiero HSBC, S.A. de C.V. HSBC Private Bank (Suisse) S.A. KPMG Audit Plc Bernard L Madoff Investment Securities LLC Malachite Funding Limited Mazarin Funding Limited 424

R RPI S SIC SIV 1 Solitaire SPE 1 T TSR U V VAR 1 Visa 1 426 Solitaire Funding Limited IFRS Visa Inc. 425

426 A ARM Alt-A ABS B 2011 1 1 2011 12 31 2 2006 6 2.5 2011 12 31 3 2010 12 3 2011 6 32013 1 1 2019 1 1 C 3 2 CDO CP 3

427 SIC 50 3 CDPC CRR 23 D E EL 12

428 EAD F G 2011 11 4 2011 12 31 29 2011 11 4 20 GSE H I IMM 2 IRB

429 ISDA ISDA K L Solitaire 3 LTV LGD EAD M MTN MBS N

430 O OIS OTC P PD R RWA S

431 SPE ECAI SIV T U Ginnie Mae V VAR W

A 293 38 38, 294 413 42, 291 292 291 292 10, 379 324 260 248, 415 112 149 33 20 341 59 43, 341 392 331 32 105, 379 312 94 371 391 380 345 35 371 369 31 411 325 276 B 20 32, 281 57, 64, 75, 80, 86, 92, 340 286 173 35 171 101 213 5, 225 226 230 226 225 6, 15 10, 149 C 414 211 212 215 211 216 32 3 99 214 2, 3 312 282 432 287 397 422 54 144, 393 44, 48 17 119 230 254, 416 203 108, 190 150, 403 16 399 158 14, 32 229 218 239 3, 14, 30, 57, 64, 69, 75, 80, 86, 92 125 3 105 189 191 104 2011 104 177, 207 189 38 190 36 15 D 164 255 359, 381 311 95 158, 359 311 20 147, 361 303 255, 228 218 225 260 259 265, 325 269 252 268 268 267, 271 228 259, 265 226, 275 268 261, 272 379, 383 244 253, 334, 414 15, 18

E 2, 15, 18, 335 60 66 89 77 82 71 37, 265 3 243 269, 316 244 244 14 29, 243, 316 245 160 416 34 165 69, 340 144-147 36 60 110, 111, 121, 123 135 60 60, 64, 337 61 60 59 17 113, 121 99 413 105, 108, 112, 149 F 346 300 348 347 351 22 40, 305 360 368 359 40, 305 341 309 2 346 300 295 24 126, 128, 191 313 357 365 40, 301 25 381 175, 205 400 278 18, 32 95, 185, 214, 290 133, 192 125 167 309 392 18, 32 161 94 G 59 44 45, 51 17 243 45, 54 17 423 243 39, 305 371, 375 229 230 7 4 230 238, 256 233 H 244 1 69, 340 144-147 36 66 110, 111, 121, 123 135 66 66, 69 66 59 17 286 287 148 334 334 317, 325 344 359 162, 198 167, 202 391 313 327 288 392 390 412 I 38, 297 135 190 27, 140 372 133, 134 142 151, 195 137, 138 18, 279 417 310 173 27, 314 2011 171 383 433

26, 314 204 PVIF 181 204 20 294 20 166, 168, 201 416 416 240 IFRS 291 377 417 J 370 K 13 L 92, 340 144-147 36 89 110, 111, 121, 123 135 89 89, 92, 337 90 89 59 17 400 307 405 203 155, 405 34 20 340 332 32 391 383 317 387 381 35 204 157 2011 157 180, 208 159, 196, 197 196 196 296 111 144 108 126 126 27, 134-144 131 128 129 111 109, 110 190 M 406 3 163, 198 2011 163 176, 206 199 391 105 80, 340 144-147 36 77 110, 111, 121, 123 135 77 77, 80, 337 78 77 59 17 119 404 154 121 194 N 238 393 295 204 404 165 86, 340 144-147 36 82 110, 111, 121, 123 135 121 124 82 82, 86, 88, 337 83 83 59 17 O 29 26, 52, 341 315 202 2011 170 418 55 9 P 386 317 308 167, 202, 321 434

271 184 2011 257 119, 121 216, 217 394 32 10 44 61, 72, 78, 83 59, 60, 64, 66, 69, 71, 75, 77, 80, 82, 86, 89, 92, 337 43, 46, 48, 51, 54, 57, 64, 67, 69, 75, 80, 86, 92 18, 279 18, 339 16 50 94, 376 306 386 42, 309 PVIF 181, 311 R 14, 159 2 3 3, 14, 30, 57, 64, 69, 75, 80, 86, 92 2 2, 279 2 14 3 15 14,18 212 407, 409 410 238, 256 260 256 245 259 256 256 258 129, 192 156 168 183, 209 75 144-147 36 71 110, 111, 121, 123 135 71 71, 75, 337 72 72 17 44, 46, 88 17 312 234 233 203 161 350 104, 189 165 102 102 99 12 167 165 100 188 103 171, 204 203 157 98, 188 163 170, 202 184, 209 188, 196 98 100 183, 209 188, 236 203 103 184, 210 13, 99, 235 435 32, 43, 59 2011 211 37 46 S 303 108 149, 194, 404 203 336 295 223 267 269 327 308 249, 394 312 2011 251 254 267 249 3 245 261 245, 327 247, 397 247, 396 246, 395 265 228 415 401 29 283 280 417 8, 11, 46, 48, 51, 54 166, 201 378 305 253 184, 210 T 41, 307 331 31 419 331 212 3, 267 345 300 23 381 300 163, 200 U 16 118 V 164 9, 13 W 112

1959 1 1 617987 8 Canada Square London E14 5HQ United Kingdom 44 (0) 20 7991 8888 44 (0) 20 7992 4880 www.hsbc.com Computershare Investor Services PLC The Pavilions Bridgwater Road Bristol BS99 6ZZ United Kingdom 44 (0) 870 702 0137 www.investorcentre.co.uk/contactus 183 17 1712-1716 852 2862 8555 hsbc.ecom@computershare.com.hk www.computershare.com/hk/investors Investor Relations Team HSBC Bank Bermuda Limited 6 Front Street Hamilton HM11 Bermuda 1 441 299 6737 hbbm.shareholder.services@hsbc.bm www.computershare.com/investor/bm BNY Mellon Shareowner Services PO Box 358516 Pittsburgh PA15252-8516 USA 1 877 283 5786 1 201 680 6825 shrrelations@bnymellon.com www.bnymellon.com/shareowner HSBC France 103 avenue des Champs Elysées 75419 Paris Cedex 08 France 33 1 40 70 22 56 ost-agence-des-titres-hsbc-reims. hbfr-do@hsbc.fr www.hsbc.fr Goldman Sachs International Peterborough Court 133 Fleet Street London EC4A 2BB United Kingdom Credit Suisse Securities (Europe) Limited One Cabot Square London E14 4QJ United Kingdom HSBC Bank plc 8 Canada Square London E14 5HQ United Kingdom 436

2012 Black Sun Plc Revive 100 White Offset 100% FSC Forest Stewardship Council 12GPS0077 Matthew Mawson George Brooks George Brooks