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Effects of adoption of IFRS 17 - Impact on Consolidated Income Statement (Details) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Dec. 31, 2022
Jun. 30, 2022
Disclosure of effect of insurance contracts initially recognised [line items]      
Net interest income [1] $ 18,264   $ 13,385
Net fee income [1] 6,085   6,228
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)
Other operating income/(loss) [1] 184   (218)
Net operating income before change in expected credit losses and other credit impairment charges [1],[2] 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
Total operating expenses [1] (15,457)   (16,127)
Operating profit [1] 20,074   7,331
Share of profit in associates and joint ventures [1],[3] 1,583   1,449
Profit before tax [1],[3] 21,657   8,780
Tax expense [1] (3,586)   151
Profit for the period $ 18,071 [1],[4] $ 7,318 8,931 [1],[4]
Previously stated      
Disclosure of effect of insurance contracts initially recognised [line items]      
Net interest income     14,451
Net fee income     6,064
Net income from financial instruments held for trading or managed on a fair value basis     4,921
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss     (3,051)
Net insurance premium income     7,646
Insurance finance income/(expense)     0
Insurance service result     0
– insurance revenue     0
– insurance service expense     0
Other operating income/(loss)     654
Total operating income     30,685
Net insurance claims and benefits paid and movement in liabilities to policyholders     (5,449)
Net operating income before change in expected credit losses and other credit impairment charges     25,236
Change in expected credit losses and other credit impairment charges     (1,090)
Net operating income     24,146
Total operating expenses     (16,419)
Operating profit     7,727
Share of profit in associates and joint ventures     1,449
Profit before tax     9,176
Tax expense     39
Profit for the period   7,455 9,215
Removal of PVIF and IFRS 4      
Disclosure of effect of insurance contracts initially recognised [line items]      
Net interest income     0
Net fee income     0
Net income from financial instruments held for trading or managed on a fair value basis     0
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss     0
Net insurance premium income     (7,646)
Insurance finance income/(expense)     0
Insurance service result     0
– insurance revenue     0
– insurance service expense     0
Other operating income/(loss)     (892)
Total operating income     (8,538)
Net insurance claims and benefits paid and movement in liabilities to policyholders     5,449
Net operating income before change in expected credit losses and other credit impairment charges     (3,089)
Change in expected credit losses and other credit impairment charges     0
Net operating income     (3,089)
Total operating expenses    
Operating profit     (3,089)
Share of profit in associates and joint ventures     0
Profit before tax     (3,089)
Tax expense     0
Profit for the period     (3,089)
Remeasure-ment effect of IFRS 9 re-designations      
Disclosure of effect of insurance contracts initially recognised [line items]      
Net interest income     (1,066)
Net fee income     0
Net income from financial instruments held for trading or managed on a fair value basis     (65)
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss     (8,798)
Net insurance premium income     0
Insurance finance income/(expense)     0
Insurance service result     0
– insurance revenue     0
– insurance service expense     0
Other operating income/(loss)    
Total operating income     (9,929)
Net insurance claims and benefits paid and movement in liabilities to policyholders     0
Net operating income before change in expected credit losses and other credit impairment charges     (9,929)
Change in expected credit losses and other credit impairment charges     3
Net operating income     (9,926)
Total operating expenses     0
Operating profit     (9,926)
Share of profit in associates and joint ventures     0
Profit before tax     (9,926)
Tax expense     0
Profit for the period     (9,926)
Insurance finance income/expense      
Disclosure of effect of insurance contracts initially recognised [line items]      
Net interest income     0
Net fee income     0
Net income from financial instruments held for trading or managed on a fair value basis     0
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss     0
Net insurance premium income     0
Insurance finance income/(expense)     11,773
Insurance service result     0
– insurance revenue     0
– insurance service expense     0
Other operating income/(loss)     52
Total operating income     11,825
Net insurance claims and benefits paid and movement in liabilities to policyholders     0
Net operating income before change in expected credit losses and other credit impairment charges     11,825
Change in expected credit losses and other credit impairment charges     0
Net operating income     11,825
Total operating expenses     0
Operating profit     11,825
Share of profit in associates and joint ventures     0
Profit before tax     11,825
Tax expense     0
Profit for the period     11,825
IFRS 17 CSM      
Disclosure of effect of insurance contracts initially recognised [line items]      
Net interest income     0
Net fee income     0
Net income from financial instruments held for trading or managed on a fair value basis     0
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss     0
Net insurance premium income     0
Insurance finance income/(expense)    
Insurance service result     459
– insurance revenue     459
– insurance service expense    
Other operating income/(loss)    
Total operating income     459
Net insurance claims and benefits paid and movement in liabilities to policyholders     0
Net operating income before change in expected credit losses and other credit impairment charges     459
Change in expected credit losses and other credit impairment charges     0
Net operating income     459
Total operating expenses     0
Operating profit     459
Share of profit in associates and joint ventures     0
Profit before tax     459
Tax expense     0
Profit for the period     459
Onerous contracts      
Disclosure of effect of insurance contracts initially recognised [line items]      
Net interest income     0
Net fee income     0
Net income from financial instruments held for trading or managed on a fair value basis     0
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss     0
Net insurance premium income     0
Insurance finance income/(expense)    
Insurance service result     (120)
– insurance revenue    
– insurance service expense     (120)
Other operating income/(loss)    
Total operating income     (120)
Net insurance claims and benefits paid and movement in liabilities to policyholders     0
Net operating income before change in expected credit losses and other credit impairment charges     (120)
Change in expected credit losses and other credit impairment charges     0
Net operating income     (120)
Total operating expenses     0
Operating profit     (120)
Share of profit in associates and joint ventures     0
Profit before tax     (120)
Tax expense     0
Profit for the period     (120)
Experience variance and other      
Disclosure of effect of insurance contracts initially recognised [line items]      
Net interest income     0
Net fee income     0
Net income from financial instruments held for trading or managed on a fair value basis     0
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss     0
Net insurance premium income     0
Insurance finance income/(expense)    
Insurance service result     31
– insurance revenue     521
– insurance service expense     (490)
Other operating income/(loss)     (32)
Total operating income     (1)
Net insurance claims and benefits paid and movement in liabilities to policyholders     0
Net operating income before change in expected credit losses and other credit impairment charges     (1)
Change in expected credit losses and other credit impairment charges     0
Net operating income     (1)
Total operating expenses     0
Operating profit     (1)
Share of profit in associates and joint ventures     0
Profit before tax     (1)
Tax expense     0
Profit for the period     (1)
Attributable Expenses      
Disclosure of effect of insurance contracts initially recognised [line items]      
Net interest income     0
Net fee income     164
Net income from financial instruments held for trading or managed on a fair value basis     0
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss     0
Net insurance premium income     0
Insurance finance income/(expense)     0
Insurance service result     0
– insurance revenue     0
– insurance service expense     0
Other operating income/(loss)    
Total operating income     164
Net insurance claims and benefits paid and movement in liabilities to policyholders     0
Net operating income before change in expected credit losses and other credit impairment charges     164
Change in expected credit losses and other credit impairment charges     0
Net operating income     164
Total operating expenses     292
Operating profit     456
Share of profit in associates and joint ventures     0
Profit before tax     456
Tax expense     0
Profit for the period     456
Tax effect      
Disclosure of effect of insurance contracts initially recognised [line items]      
Net interest income     0
Net fee income     0
Net income from financial instruments held for trading or managed on a fair value basis     0
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss     0
Net insurance premium income     0
Insurance finance income/(expense)     0
Insurance service result     0
– insurance revenue     0
– insurance service expense     0
Other operating income/(loss)    
Total operating income     0
Net insurance claims and benefits paid and movement in liabilities to policyholders     0
Net operating income before change in expected credit losses and other credit impairment charges     0
Change in expected credit losses and other credit impairment charges     0
Net operating income     0
Total operating expenses     0
Operating profit     0
Share of profit in associates and joint ventures     0
Profit before tax     0
Tax expense     112
Profit for the period     112
IFRS 17 impacts      
Disclosure of effect of insurance contracts initially recognised [line items]      
Net interest income     13,385
Net fee income     6,228
Net income from financial instruments held for trading or managed on a fair value basis     4,856
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss     (11,849)
Net insurance premium income     0
Insurance finance income/(expense)     11,773
Insurance service result     370
– insurance revenue     980
– insurance service expense     (610)
Other operating income/(loss)     (218)
Total operating income     24,545
Net insurance claims and benefits paid and movement in liabilities to policyholders     0
Net operating income before change in expected credit losses and other credit impairment charges     24,545
Change in expected credit losses and other credit impairment charges     (1,087)
Net operating income     23,458
Total operating expenses     (16,127)
Operating profit     7,331
Share of profit in associates and joint ventures     1,449
Profit before tax     8,780
Tax expense     151
Profit for the period   $ 7,318 $ 8,931
[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] Net operating income before change in expected credit losses and other credit impairment charges, also referred to as revenue.
[3] From 1 January 2023, we adopted IFRS 17 ‘Insurance Contracts’, which replaced IFRS 4 ‘Insurance Contracts’. Comparative data have been restated accordingly.
[4]     From 1 January 2023, we adopted IFRS 17 ‘Insurance Contracts’, which replaced IFRS 4 ‘Insurance Contracts’. Comparative data have been restated accordingly.