v3.25.1
CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest income:    
Loans $ 876 $ 899
Securities 460 445
Trading securities 91 85
Short-term investments 434 448
Other 19 16
Total interest income 1,880 1,893
Interest expense:    
Deposits 934 1,012
Short-term borrowings 126 154
Long-term debt 280 285
Other 14 16
Total interest expense 1,354 1,467
Net interest income 526 426
Provision for credit losses 118 2
Net interest income after provision for credit losses 408 424
Other revenues:    
Trading revenue 193 276
Other securities gains, net 3 2
Gain (loss) on instruments designated at fair value and related derivatives (3) (20)
Other income (loss) 1 (34)
Total other revenues 516 539
Operating expenses:    
Salaries and employee benefits 148 135
Support services from HSBC affiliates 404 399
Occupancy expense, net 12 18
Other expenses 96 133
Total operating expenses 660 685
Income before income tax 264 278
Income tax expense 63 53
Net income 201 225
Credit card fees, net    
Other revenues:    
Other revenues 14 15
Trust and investment management fees    
Other revenues:    
Other revenues 41 36
Other fees and commissions    
Other revenues:    
Other revenues 165 176
Servicing and other fees from HSBC affiliates    
Other revenues:    
Other revenues $ 102 $ 88