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CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income:      
Loans $ 3,458 $ 2,130 $ 1,705
Securities 1,558 800 641
Trading securities 266 219 225
Short-term investments 1,687 703 81
Other 80 53 23
Total interest income 7,049 3,905 2,675
Interest expense:      
Deposits 3,650 1,136 267
Short-term borrowings 514 165 18
Long-term debt 1,133 505 296
Other 47 30 11
Total interest expense 5,344 1,836 592
Net interest income 1,705 2,069 2,083
Provision for credit losses 45 154 (570)
Net interest income after provision for credit losses 1,660 1,915 2,653
Other revenues:      
Trading revenue 942 517 24
Other securities gains (losses), net (243) 26 73
Gain (loss) on instruments designated at fair value and related derivatives (42) (50) 35
Gain on sale of branch disposal group, net 0 113 0
Other income (loss) (141) (154) (13)
Total other revenues 1,652 1,595 1,237
Operating expenses:      
Salaries and employee benefits 530 591 665
Support services from HSBC affiliates 1,671 1,762 1,620
Occupancy expense, net 60 66 248
Other expenses 563 366 445
Total operating expenses 2,824 2,785 2,978
Income before income tax 488 725 912
Income tax expense 95 177 224
Net income 393 548 688
Credit card fees, net      
Other revenues:      
Other revenues 49 45 37
Trust and investment management fees      
Other revenues:      
Other revenues 134 136 108
Other fees and commissions      
Other revenues:      
Other revenues 626 619 652
Servicing and other fees from HSBC affiliates      
Other revenues:      
Other revenues $ 327 $ 343 $ 321