v3.25.2
Business Segments (Tables)
6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Summary on Reconciliation of Results under Group Reporting Basis to US GAAP
The following table summarizes the impact of these changes on reported segment profit (loss) before tax, total assets and total deposits as of and for the three and six months ended June 30, 2024:
As Previously ReportedAfter Reporting Changes
(in millions)
Segment profit (loss) before tax during the three months ended June 30, 2024:
IWPB(1)
$37 $37 
CIBNR231 
CMB143 NR
GB81NR
MSS5NR
GBM Other2NR
CC(42)(42)
Segment profit (loss) before tax during the six months ended June 30, 2024:
IWPB(1)
$96 $96 
CIBNR528 
CMB336 NR
GB156NR
MSS16NR
GBM Other20NR
CC(112)(112)
Segment total assets at June 30, 2024:
IWPB(1)
$37,020 $37,020 
CIBNR137,187 
CMB(2)
54,024 NR
GB9,777 NR
MSS36,571 NR
GBM Other36,815 NR
CC3,573 3,573 
Segment total deposits at June 30, 2024:
IWPB(1)
$28,602 $28,602 
CIBNR82,257 
CMB38,866 NR
GB41,277 NR
MSS1,067 NR
GBM Other1,047 NR
CC— — 
NR Not Reported
(1)Previously referred to as WPB.
(2)Segment total assets included goodwill that was previously allocated to CMB of $358 million at June 30, 2024.
The following table summarizes the results for each segment on a Group Reporting Basis, as well as provides a reconciliation of total results under the Group Reporting Basis to U.S. GAAP consolidated totals:
 Group Reporting Basis Consolidated Amounts   
IWPBCIBCCTotal
Group Reporting Basis
Adjust-
ments(1)
Group Reporting Basis
Reclassi-
fications(2)
U.S. GAAP
Consolidated
Totals
 (in millions)
Three Months Ended June 30, 2025
Net interest income (expense)$188 $460 $(85)$563 $6 $(46)$523 
Other operating income64 313 85 462  56 518 
Total operating income252 773  1,025 6 10 1,041 
Expected credit losses / provision for credit losses1 63  64 (22) 42 
251 710  961 28 10 999 
Operating expenses:
Direct Costs106 115 13 234 N/AN/AN/A
Indirect Costs97 327 29 453 N/AN/AN/A
Total operating expenses203 442 42 687 (1)10 696 
Profit (loss) before income tax$48 $268 $(42)$274 $29 $ $303 
Three Months Ended June 30, 2024
Net interest income (expense)$175 $414 $(159)$430 $$(24)$412 
Other operating income58 288 160 506 (3)34 537 
Total operating income233 702 936 10 949 
Expected credit losses / provision for credit losses(2)42 — 40 — 47 
235 660 896 (4)10 902 
Operating expenses:
Direct Costs98 106 51 255 N/AN/AN/A
Indirect Costs100 323 (8)415 N/AN/AN/A
Total operating expenses198 429 43 670 10 684 
Profit (loss) before income tax$37 $231 $(42)$226 $(8)$— $218 
 Group Reporting Basis Consolidated Amounts   
IWPBCIBCCTotal
Group Reporting Basis
Adjust-
ments(1)
Group Reporting Basis
Reclassi-
fications(2)
U.S. GAAP
Consolidated
Totals
 (in millions)
Six Months Ended June 30, 2025
Net interest income (expense)$374 $933 $(185)$1,122 $12 $(85)$1,049 
Other operating income115 636 181 932 (3)105 1,034 
Total operating income (expense)489 1,569 (4)2,054 9 20 2,083 
Expected credit losses / provision for credit losses3 147  150 10  160 
486 1,422 (4)1,904 (1)20 1,923 
Operating expenses:
Direct Costs192 225 55 472 N/AN/AN/A
Indirect Costs196 640 19 855 N/AN/AN/A
Total operating expenses388 865 74 1,327 9 20 1,356 
Profit (loss) before income tax$98 $557 $(78)$577 $(10)$ $567 
Balances at end of period:
Total assets$38,525 $151,215 $4,243 $193,983 $(17,616)$ $176,367 
Total loans, net27,369 34,566  61,935 (1,684)3,334 63,585 
Goodwill 358  358 100  458 
Total deposits27,247 91,520  118,767 (1,598)9,012 126,181 
Six Months Ended June 30, 2024
Net interest income (expense)$354 $850 $(327)$877 $13 $(52)$838 
Other operating income125 553 333 1,011 (6)71 1,076 
Total operating income479 1,403 1,888 19 1,914 
Expected credit losses / provision for credit losses(2)35 — 33 16 — 49 
481 1,368 1,855 (9)19 1,865 
Operating expenses:
Direct Costs187 209 136 532 N/AN/AN/A
Indirect Costs198 631 (18)811 N/AN/AN/A
Total operating expenses385 840 118 1,343 19 1,369 
Profit (loss) before income tax$96 $528 $(112)$512 $(16)$— $496 
Balances at end of period:
Total assets$37,020 $137,187 $3,573 $177,780 $(14,718)$— $163,062 
Total loans, net24,834 34,191 — 59,025 (705)1,774 60,094 
Goodwill— 358 — 358 100 — 458 
Total deposits28,602 82,257 — 110,859 (2,425)10,911 119,345 
N/A Not Applicable
(1)Represents adjustments associated with differences between U.S. GAAP and the Group Reporting Basis.
(2)Represents differences in financial statement presentation between U.S. GAAP and the Group Reporting Basis.