

2	Net fee income



Net fee income by global business
	2018												2017		2016
	Retail Banking and Wealth Management		Commercial Banking		Global Banking and Markets		Global Private Banking		Corporate Centre		Total		Total		Total
	$m		$m		$m		$m		$m		$m		$m		$m
Funds under management	1,383		134		421		284		(1	)	2,221		2,188		2,076
Account services	991		748		332		106		—		2,177		2,244		2,417
Cards	1,575		370		16		—		(5	)	1,956		1,994		1,970
Credit facilities	71		824		813		16		(1	)	1,723		1,718		1,795
Broking income	494		44		533		139		—		1,210		1,191		1,060
Unit trusts	937		25		3		73		—		1,038		1,010		863
Remittances	96		357		320		5		—		778		759		766
Global custody	100		18		584		35		(1	)	736		692		662
Underwriting	1		10		708		4		—		723		829		705
Imports/exports	3		532		176		2		(4	)	709		736		820
Insurance agency commission	354		23		1		27		(1	)	404		410		419
Other	1,110		858		2,362		186		(2,147	)	2,369		2,082		2,116
Fee income	7,115		3,943		6,269		877		(2,160	)	16,044		15,853		15,669
Less: fee expense	(1,917	)	(388	)	(3,040	)	(135	)	2,056		(3,424	)	(3,042	)	(2,892	)
Net Fee income	5,198		3,555		3,229		742		(104	)	12,620		12,811		12,777

Net Fee income includes $7,522m of fees earned on financial assets that are not at fair value through profit or loss (other than amounts included in determining the effective interest rate) (2017: $7,577m; 2016: $7,732m), $1,682m of fees payable on financial liabilities that are not at fair value through profit of loss (other than amounts included in determining the effective interest rate) (2017: $1,475m; 2016: $1,214m), $3,165m of fees earned on trust and other fiduciary activities (2017: $3,088m; 2016: $2,926m), and $175m of fees payable relating to trust and other fiduciary activities (2017: $134m; 2016: $129m). Comparatives for fees earned on trust and other fiduciary activities have been restated to align with current year treatment.