v3.25.4
Net income/(expense) from financial instruments measured at fair value through profit and loss (Tables)
12 Months Ended
Dec. 31, 2025
Analysis of income and expense [abstract]  
Disclosure of net income from financial instruments measured at fair value through profit and loss
2025
2024
2023
$m
$m
$m
Net income/(expense) arising on:
Net trading activities
24,345
23,186
20,391
Other instruments managed on a fair value basis
(4,663)
(2,070)
(3,730)
Net income from financial instruments held for trading or managed on a fair value basis
19,682
21,116
16,661
Financial assets held to meet liabilities under insurance and investment contracts
11,612
6,210
8,086
Liabilities to customers under investment contracts
(437)
(309)
(199)
Net income/(expense) from assets and liabilities of insurance businesses, including related
derivatives, measured at fair value through profit or loss
11,175
5,901
7,887
2025
2024
2023
$m
$m
$m
Net income/(expense) arising on:
Net trading activities
(1,709)
984
(546)
Other instruments managed on a fair value basis
1,891
1,915
1,609
Net income from financial instruments held for trading or managed on a fair value basis
182
2,899
1,063
Derivatives managed in conjunction with HSBC Holdings-issued debt securities
212
93
426
Other changes in fair value
(1,253)
(218)
(1,894)
Changes in fair value of designated debt and related derivatives
(1,041)
(125)
(1,468)
Changes in fair value of other financial instruments mandatorily measured at fair value through profit
or loss
2,835
2,086
3,692
Year ended 31 Dec
1,976
4,860
3,287