v3.25.4
Fair values of financial instruments carried at fair value - Movement in Level 3 financial instruments (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of changes in fair value measurement, assets [abstract]      
Balance at 1 Jan $ 2,923,319    
– financial investments: fair value gains/(losses) 1,525 $ 41 $ 2,381
Balance at 31 Dec 3,117,161 2,923,319  
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 2,682,252    
– fair value gains/(losses) 1,525 41 2,381
Financial liabilities, ending balance 2,882,187 2,682,252  
French life insurance business      
Reconciliation of changes in fair value measurement, assets [abstract]      
Transfers in 2,300    
Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Balance at 1 Jan 31,302    
Balance at 31 Dec 36,445 31,302  
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 12,743    
Financial liabilities, ending balance 14,242 12,743  
Trading liabilities      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 65,982    
Financial liabilities, ending balance 72,122 65,982  
Trading liabilities | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 65,982    
Financial liabilities, ending balance 72,122 65,982  
Trading liabilities | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 784 478  
Total gains/(losses) recognised in profit or loss (4) 18  
Total gains/(losses) recognised in other comprehensive income (‘OCI’) 21 (18)  
Purchases 83 924  
New issuances 0 0  
Sales (19) (295)  
Settlements (331) (307)  
Transfers out (498) (29)  
Transfers in 31 13  
Financial liabilities, ending balance 67 784 478
Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for liabilities held at end of period, fair value measurement (19) (6)  
Financial liabilities designated at fair value      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 138,727    
Financial liabilities, ending balance 158,456 138,727  
Financial liabilities designated at fair value | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 138,727    
Financial liabilities, ending balance 158,456 138,727  
Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 9,117 10,928  
Total gains/(losses) recognised in profit or loss 919 496  
Total gains/(losses) recognised in other comprehensive income (‘OCI’) 608 (45)  
Purchases 0 0  
New issuances 8,542 6,521  
Sales 0 0  
Settlements (5,352) (4,750)  
Transfers out (5,282) (6,048)  
Transfers in 2,181 2,015  
Financial liabilities, ending balance 10,733 9,117 10,928
Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for liabilities held at end of period, fair value measurement (1,034) (94)  
Derivatives | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 264,448    
Financial liabilities, ending balance 237,854 264,448  
Derivatives | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 2,842 2,569  
Total gains/(losses) recognised in profit or loss 2,210 1,268  
Total gains/(losses) recognised in other comprehensive income (‘OCI’) 174 (53)  
Purchases 0 0  
New issuances 0 0  
Sales 0 0  
Settlements (1,632) (568)  
Transfers out (831) (1,346)  
Transfers in 679 972  
Financial liabilities, ending balance 3,442 2,842 2,569
Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for liabilities held at end of period, fair value measurement (2,304) (1,343)  
Financial assets at fair value through other comprehensive income, category      
Reconciliation of changes in fair value measurement, assets [abstract]      
Balance at 1 Jan 339,193    
Balance at 31 Dec 385,122 339,193  
Financial assets at fair value through other comprehensive income, category | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Balance at 1 Jan 339,193    
Balance at 31 Dec 385,122 339,193  
Financial assets at fair value through other comprehensive income, category | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Balance at 1 Jan 2,734 2,618  
Total gains/(losses) recognised in profit or loss 4 (9)  
Total gains/(losses) recognised in other comprehensive income (‘OCI’) 255 (78)  
Purchases 2,100 1,670  
New issuances 0 0  
Sales (195) (97)  
Settlements (347) (1,011)  
Transfers out (2,008) (438)  
Transfers in 262 79  
Balance at 31 Dec 2,805 2,734 2,618
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 0 0  
Trading assets      
Reconciliation of changes in fair value measurement, assets [abstract]      
Balance at 1 Jan 314,842    
Balance at 31 Dec 366,153 314,842  
Trading assets | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Balance at 1 Jan 314,842    
Balance at 31 Dec 366,153 314,842  
Trading assets | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Balance at 1 Jan 6,675 4,306  
Total gains/(losses) recognised in profit or loss 154 280  
Total gains/(losses) recognised in other comprehensive income (‘OCI’) 236 (115)  
Purchases 4,151 4,170  
New issuances 181 0  
Sales (2,679) (1,477)  
Settlements (1,814) (967)  
Transfers out (2,018) (429)  
Transfers in 1,211 907  
Balance at 31 Dec 6,097 6,675 4,306
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 309 (150)  
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss      
Reconciliation of changes in fair value measurement, assets [abstract]      
Balance at 1 Jan 3,357    
Balance at 31 Dec 3,942 3,357  
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Balance at 1 Jan 115,769    
Balance at 31 Dec 133,063 115,769  
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Balance at 1 Jan 19,744 19,788  
Total gains/(losses) recognised in profit or loss 1,487 896  
Total gains/(losses) recognised in other comprehensive income (‘OCI’) 84 (39)  
Purchases 4,673 6,261  
New issuances 0 0  
Sales (389) (649)  
Settlements (1,727) (6,476)  
Transfers out (1,312) (278)  
Transfers in 2,800 241  
Balance at 31 Dec 25,360 19,744 19,788
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 309 11  
Derivatives | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Balance at 1 Jan 268,637    
Balance at 31 Dec 237,740 268,637  
Derivatives | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Balance at 1 Jan 2,149 2,069  
Total gains/(losses) recognised in profit or loss 1,291 1,037  
Total gains/(losses) recognised in other comprehensive income (‘OCI’) 150 (36)  
Purchases 0 0  
New issuances 0 0  
Sales 0 0  
Settlements (1,073) (897)  
Transfers out (901) (777)  
Transfers in 567 753  
Balance at 31 Dec 2,183 2,149 $ 2,069
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 1,320 (1,377)  
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Trading liabilities | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) recognised in profit or loss (4) 18  
Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for liabilities held at end of period, fair value measurement (19) (6)  
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) recognised in profit or loss 919 496  
Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for liabilities held at end of period, fair value measurement 0 0  
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Derivatives | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) recognised in profit or loss 2,210 1,268  
Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for liabilities held at end of period, fair value measurement (2,304) (1,343)  
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Financial assets at fair value through other comprehensive income, category | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) recognised in profit or loss 0 0  
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 0 0  
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Trading assets | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) recognised in profit or loss 154 280  
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 309 (150)  
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) recognised in profit or loss 0 0  
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 0 0  
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Derivatives | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) recognised in profit or loss 1,291 1,037  
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 1,320 (1,377)  
– net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | Trading liabilities | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) recognised in profit or loss 0 0  
Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for liabilities held at end of period, fair value measurement 0 0  
– net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) recognised in profit or loss 0 0  
Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for liabilities held at end of period, fair value measurement 0 0  
– net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | Derivatives | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) recognised in profit or loss 0 0  
Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for liabilities held at end of period, fair value measurement 0 0  
– net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | Financial assets at fair value through other comprehensive income, category | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) recognised in profit or loss 0 0  
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 0 0  
– net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | Trading assets | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) recognised in profit or loss 0 0  
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 0 0  
– net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) recognised in profit or loss 1,478 684  
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 302 (38)  
– net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | Derivatives | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) recognised in profit or loss 0 0  
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 0 0  
– other income/(losses) | Trading liabilities | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) recognised in profit or loss 0 0  
Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for liabilities held at end of period, fair value measurement 0 0  
– other income/(losses) | Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) recognised in profit or loss 0 0  
Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for liabilities held at end of period, fair value measurement (1,034) (94)  
– other income/(losses) | Derivatives | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) recognised in profit or loss 0 0  
Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for liabilities held at end of period, fair value measurement 0 0  
– other income/(losses) | Financial assets at fair value through other comprehensive income, category | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) recognised in profit or loss 4 (9)  
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 0 0  
– other income/(losses) | Trading assets | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) recognised in profit or loss 0 0  
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 0 0  
– other income/(losses) | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) recognised in profit or loss 9 212  
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period 7 49  
– other income/(losses) | Derivatives | Level 3 | Recurring fair value measurement      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) recognised in profit or loss 0 0  
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period $ 0 $ 0