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 Reported | | After Reporting Changes | | | | | | | | | | | (in millions) | | | | | | Segment profit (loss) before tax during the three months ended June 30, 2024: | | | | | | | | | | | | | IWPB(1) | $ | 37 | | | $ | 37 | | | | | | | | | | | CIB | NR | | 231 | | | | | | | | | | | CMB | 143 | | | NR | | | | | | | | | | GB | 81 | | NR | | | | | | | | | | MSS | 5 | | NR | | | | | | | | | | GBM Other | 2 | | NR | | | | | | | | | | CC | (42) | | | (42) | | | | | | | | | | | | | | | | | | | | | | | | Segment profit (loss) before tax during the six months ended June 30, 2024: | | | | | | | | | | | | | IWPB(1) | $ | 96 | | | $ | 96 | | | | | | | | | | | CIB | NR | | 528 | | | | | | | | | | | CMB | 336 | | | NR | | | | | | | | | | GB | 156 | | NR | | | | | | | | | | MSS | 16 | | NR | | | | | | | | | | GBM Other | 20 | | NR | | | | | | | | | | CC | (112) | | | (112) | | | | | | | | | | | | | | | | | | | | | | | | Segment total assets at June 30, 2024: | | | | | | | | | | | | | IWPB(1) | $ | 37,020 | | | $ | 37,020 | | | | | | | | | | | CIB | NR | | 137,187 | | | | | | | | | | | CMB(2) | 54,024 | | | NR | | | | | | | | | | GB | 9,777 | | | NR | | | | | | | | | | MSS | 36,571 | | | NR | | | | | | | | | | GBM Other | 36,815 | | | NR | | | | | | | | | | CC | 3,573 | | | 3,573 | | | | | | | | | | | | | | | | | | | | | | | | Segment total deposits at June 30, 2024: | | | | | | | | | | | | | IWPB(1) | $ | 28,602 | | | $ | 28,602 | | | | | | | | | | | CIB | NR | | 82,257 | | | | | | | | | | | CMB | 38,866 | | | NR | | | | | | | | | | GB | 41,277 | | | NR | | | | | | | | | | MSS | 1,067 | | | NR | | | | | | | | | | GBM Other | 1,047 | | | 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 | | | | | | | | | | | | | | | | | | | | | | | | IWPB | | CIB | | CC | | | | Total | | 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 income | 64 | | | 313 | | | 85 | | | | | 462 | | | — | | | 56 | | | 518 | | Total operating income | 252 | | | 773 | | | — | | | | | 1,025 | | | 6 | | | 10 | | | 1,041 | | Expected credit losses / provision for credit losses | 1 | | | 63 | | | — | | | | | 64 | | | (22) | | | — | | | 42 | | | 251 | | | 710 | | | — | | | | | 961 | | | 28 | | | 10 | | | 999 | | Operating expenses: | | | | | | | | | | | | | | | | Direct Costs | 106 | | | 115 | | | 13 | | | | | 234 | | | N/A | | N/A | | N/A | Indirect Costs | 97 | | | 327 | | | 29 | | | | | 453 | | | N/A | | N/A | | N/A | Total operating expenses | 203 | | | 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 | | | $ | 6 | | | $ | (24) | | | $ | 412 | | Other operating income | 58 | | | 288 | | | 160 | | | | | 506 | | | (3) | | | 34 | | | 537 | | Total operating income | 233 | | | 702 | | | 1 | | | | | 936 | | | 3 | | | 10 | | | 949 | | Expected credit losses / provision for credit losses | (2) | | | 42 | | | — | | | | | 40 | | | 7 | | | — | | | 47 | | | 235 | | | 660 | | | 1 | | | | | 896 | | | (4) | | | 10 | | | 902 | | Operating expenses: | | | | | | | | | | | | | | | | Direct Costs | 98 | | | 106 | | | 51 | | | | | 255 | | | N/A | | N/A | | N/A | Indirect Costs | 100 | | | 323 | | | (8) | | | | | 415 | | | N/A | | N/A | | N/A | Total operating expenses | 198 | | | 429 | | | 43 | | | | | 670 | | | 4 | | | 10 | | | 684 | | Profit (loss) before income tax | $ | 37 | | | $ | 231 | | | $ | (42) | | | | | $ | 226 | | | $ | (8) | | | $ | — | | | $ | 218 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Group Reporting Basis Consolidated Amounts | | | | | | | | | | | | | | | | | | | | | | | | IWPB | | CIB | | CC | | | | Total | | 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 income | 115 | | | 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 losses | 3 | | | 147 | | | — | | | | | 150 | | | 10 | | | — | | | 160 | | | 486 | | | 1,422 | | | (4) | | | | | 1,904 | | | (1) | | | 20 | | | 1,923 | | Operating expenses: | | | | | | | | | | | | | | | | Direct Costs | 192 | | | 225 | | | 55 | | | | | 472 | | | N/A | | N/A | | N/A | Indirect Costs | 196 | | | 640 | | | 19 | | | | | 855 | | | N/A | | N/A | | N/A | Total operating expenses | 388 | | | 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, net | 27,369 | | | 34,566 | | | — | | | | | 61,935 | | | (1,684) | | | 3,334 | | | 63,585 | | Goodwill | — | | | 358 | | | — | | | | | 358 | | | 100 | | | — | | | 458 | | Total deposits | 27,247 | | | 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 income | 125 | | | 553 | | | 333 | | | | | 1,011 | | | (6) | | | 71 | | | 1,076 | | Total operating income | 479 | | | 1,403 | | | 6 | | | | | 1,888 | | | 7 | | | 19 | | | 1,914 | | Expected credit losses / provision for credit losses | (2) | | | 35 | | | — | | | | | 33 | | | 16 | | | — | | | 49 | | | 481 | | | 1,368 | | | 6 | | | | | 1,855 | | | (9) | | | 19 | | | 1,865 | | Operating expenses: | | | | | | | | | | | | | | | | Direct Costs | 187 | | | 209 | | | 136 | | | | | 532 | | | N/A | | N/A | | N/A | Indirect Costs | 198 | | | 631 | | | (18) | | | | | 811 | | | N/A | | N/A | | N/A | Total operating expenses | 385 | | | 840 | | | 118 | | | | | 1,343 | | | 7 | | | 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, net | 24,834 | | | 34,191 | | | — | | | | | 59,025 | | | (705) | | | 1,774 | | | 60,094 | | Goodwill | — | | | 358 | | | — | | | | | 358 | | | 100 | | | — | | | 458 | | Total deposits | 28,602 | | | 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.
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