v3.25.2
CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Loans $ 892 $ 933 $ 1,768 $ 1,832
Securities 506 462 966 907
Trading securities 87 89 178 174
Short-term investments 408 410 842 858
Other 15 23 34 39
Total interest income 1,908 1,917 3,788 3,810
Interest expense:        
Deposits 916 1,037 1,850 2,049
Short-term borrowings 139 156 265 310
Long-term debt 314 298 594 583
Other 16 14 30 30
Total interest expense 1,385 1,505 2,739 2,972
Net interest income 523 412 1,049 838
Provision for credit losses 42 47 160 49
Net interest income after provision for credit losses 481 365 889 789
Other revenues:        
Trading revenue 191 233 384 509
Other securities gains, net 6 8 9 10
Gain (loss) on instruments designated at fair value and related derivatives (1) (10) (4) (30)
Other income (loss) 4 (4) 5 (38)
Total other revenues 518 537 1,034 1,076
Operating expenses:        
Salaries and employee benefits 161 143 309 278
Support services from HSBC affiliates 456 419 860 818
Occupancy expense, net 12 23 24 41
Other expenses 67 99 163 232
Total operating expenses 696 684 1,356 1,369
Income before income tax 303 218 567 496
Income tax expense 55 49 118 102
Net income 248 169 449 394
Credit card fees, net        
Other revenues:        
Other revenues 17 13 31 28
Trust and investment management fees        
Other revenues:        
Other revenues 41 34 82 70
Other fees and commissions        
Other revenues:        
Other revenues 162 170 327 346
Servicing and other fees from HSBC affiliates        
Other revenues:        
Other revenues $ 98 $ 93 $ 200 $ 181