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Consolidated income statement - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Profit or loss [abstract]    
Net interest income [1] $ 18,264 $ 13,385
– interest income [1] 46,955 19,788
– interest expense [1] (28,691) (6,403)
Net fee income [1] 6,085 6,228
– fee income [1] 7,947 7,913
– fee expense [1] (1,862) (1,685)
Net income from financial instruments held for trading or managed on a fair value basis [1] 8,112 4,856
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss [1] 4,304 (11,849)
Insurance finance income/(expense) [1] (4,234) 11,773
Insurance service result [1] 524 370
– insurance revenue [1] 1,104 980
– insurance service expense [1] (580) (610)
Gain on acquisition [1],[2] 1,507 0
Reversal of impairment loss relating to the planned sale of our retail banking operations in France [1],[3] 2,130 0
Other operating income [1] 184 (218)
Net operating income before change in expected credit losses and other credit impairment charges [1],[4] 36,876 24,545
Change in expected credit losses and other credit impairment charges [1] (1,345) (1,087)
Net operating income [1] 35,531 23,458
Employee compensation and benefits [1] (8,954) (8,896)
General and administrative expenses [1] (4,912) (5,337)
Depreciation and impairment of property, plant and equipment and right-of-use assets [1] (782) (1,072)
Amortisation and impairment of intangible assets [1] (809) (822)
Total operating expenses [1] (15,457) (16,127)
Operating profit [1] 20,074 7,331
Share of profit in associates and joint ventures [1],[5] 1,583 1,449
Profit before tax [1],[5] 21,657 8,780
Tax (charge)/credit [1] (3,586) 151
Profit for the period [1],[6] 18,071 8,931
Attributable to:    
– ordinary shareholders of the parent company [1] 16,966 7,966
– other equity holders [1] 542 626
– non-controlling interests [1] 563 339
Profit for the period [1],[6] $ 18,071 $ 8,931
Basic earnings per ordinary share (in dollars per share) [1] $ 0.86 $ 0.40
Diluted earnings per ordinary share (in dollars per share) [1] $ 0.86 $ 0.40
[1] 1    From 1 January 2023, we adopted IFRS 17 ‘Insurance Contracts’, which replaced IFRS 4 ‘Insurance Contracts’. Comparative data have been restated accordingly.
[2] Provisional gain of $1.5bn recognised in respect of the acquisition of SVB UK.
[3] Reversal of the $2.1bn impairment loss relating to the planned sale of our retail banking operations in France, which is no longer classified as held for sale.
[4] Net operating income before change in expected credit losses and other credit impairment charges, also referred to as revenue.
[5] From 1 January 2023, we adopted IFRS 17 ‘Insurance Contracts’, which replaced IFRS 4 ‘Insurance Contracts’. Comparative data have been restated accordingly.
[6]     From 1 January 2023, we adopted IFRS 17 ‘Insurance Contracts’, which replaced IFRS 4 ‘Insurance Contracts’. Comparative data have been restated accordingly.