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BARCLAYS
PLC
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(Registrant)
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By: /s/
Karen Rowe
--------------------------------
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Karen
Rowe
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Assistant
Secretary
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Results Announcement
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Page
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Notes
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1
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Performance
Highlights
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2-4
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Group
Chief Executive Officer’s Review
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5
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Group
Finance Director’s Review
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6-7
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Results
by Business
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●
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Barclays
UK
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8-10
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●
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Barclays
International
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11-14
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●
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Head
Office
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15
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Quarterly
Results Summary
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16
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Quarterly
Results by Business
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17-22
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Performance Management
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●
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Margins
and Balances
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23
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●
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Remuneration
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24-25
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Risk Management
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●
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Risk
Management and Principal Risks
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26
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●
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Credit
Risk
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27-40
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●
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Market
Risk
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41
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●
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Treasury and
Capital Risk
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42-52
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Statement
of Directors’ Responsibilities
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53
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Condensed
Consolidated Financial Statements
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54-58
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Financial
Statement Notes
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59-64
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Appendix: Non-IFRS
Performance Measures
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65-74
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Shareholder
Information
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75
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COVID-19 support
Continuing to
support our customers, clients, communities and
colleagues
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●
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In
2020, provided over 680k payment holidays to customers,
c.£27bn of COVID-19 support to UK businesses1 and helped
businesses and institutions access global capital
markets
including
underwriting c.£1.5tn of new issuance2. Also waived
c.£100m of interest and fees to customers, and committed
£100m to a COVID-19 Community Aid Package
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Income
Diversified
income streams with strong CIB income offsetting challenges in
Barclays UK and CC&P
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Group
income of £21.8bn up 1% versus prior year
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||
●
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Barclays
International income of £15.9bn, up 8% versus prior
year
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||
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-
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Corporate and Investment Bank (CIB) income of £12.5bn, up
22% due to strong Markets income reflecting market share
gains3 in
a buoyant trading environment, as well as strong Banking income,
resulting in the best ever year on a comparable basis for both
businesses4
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-
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Consumer, Cards and Payments (CC&P) income of £3.4bn, down
22% driven by lower credit card balances, margin compression
and reduced payments activity
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●
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Barclays UK income of £6.3bn, down 14%
versus prior year reflecting lower unsecured lending
balances and interest rates, and COVID-19 customer support actions,
partially offset by mortgages growth
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||
Credit impairment charges
Increased
impairment provisioning driving higher coverage ratios across
portfolios
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Group credit impairment charges increased to
£4.8bn (2019: £1.9bn) due to the deterioration in
economic outlook driven by the COVID-19 pandemic
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||
●
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Current
year charge includes £2.3bn of non-default provision for
expected future customer and client stress
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||
●
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Total
balance sheet impairment allowance of £9.4bn (2019:
£6.6bn), resulting in higher coverage ratios for unsecured
consumer lending and wholesale portfolios of 12.3% (2019: 8.1%) and
1.5% (2019: 0.8%) respectively
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||
Costs5
Stable
cost: income ratio including structural cost actions
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Group
operating expenses of £13.7bn up 1% versus prior
year
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||
●
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2020
operating expenses reflect £0.4bn of structural cost actions
mainly taken in Q420 and additional COVID-19 related costs
resulting in a cost: income ratio of 63% (2019: 63%)
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Capital
Strong
capital position
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Common
equity tier 1 (CET1) ratio of 15.1% up 130bps versus prior
year
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||
●
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The
increase reflects profits, regulatory measures and cancellation of
the full year 2019 dividend payment, partially offset by the
announced 1.0p full year 2020 dividend and an increase in Risk
Weighted Assets (RWAs)
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||
Capital distributions
Return
of capital through dividends and share buybacks
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Capital
distributions announced of 5.0p per share in
aggregate:
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||
●
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1.0p
2020 full year dividend declared
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||
●
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Intend
to initiate a share buyback of up to £700m, which would have
an effect of 23bps on the CET1 ratio
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Q420 performance
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|||
Remained
profitable in Q420 despite the continuing impact of the
pandemic
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Q420
Group profit before tax of £0.6bn (Q419: £1.1bn) and
attributable profit of £0.2bn (Q419: £0.7bn), resulting
in a RoTE of 1.8% (Q419: 5.9%) and EPS of 1.3p (Q419:
3.9p)
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||
●
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Q420
Group income of £4.9bn, down 7% versus prior year
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●
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Q420
Barclays International income of £3.5bn, up 1% versus prior
year
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-
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Q420 CIB income of £2.6bn, up 14% versus prior
year driven by a 19%
increase in Markets income and 30% increase in Banking fees,
partially offset by a 12% decrease in Corporate income
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-
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Q420 CC&P income of £0.8bn, down 25% versus prior year and
down 3% versus prior quarter, as the impacts of the pandemic
continued to result in lower balances, margin compression and
reduced payments activity
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●
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Q420 Barclays UK income of £1.6bn, down
17% versus prior year but up 5% versus prior quarter,
reflecting lower unsecured lending balances and interest rates,
partially offset by mortgages growth
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●
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Q420
Group credit impairment charge of £0.5bn, down 6% versus prior
year and down 19% versus prior quarter
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●
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Q420 Group operating
expenses of
£3.8bn5,
up 7% versus prior year and up 11% versus prior quarter,
including the UK bank levy of £0.3bn (Q419: £0.2bn) and
structural cost actions of £0.3bn
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||
●
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CET1 ratio of 15.1%6,
an increase of 50bps in Q420 mainly due to a
30bps benefit from
regulatory changes to software assets
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1
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Total payment
holidays granted as at 31 December 2020, business lending and
commercial paper issuance data as at 12 and 15 February 2021
respectively.
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2
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Across Equity
and Debt Capital Markets in Q220-Q420.
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3
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Data source:
Coalition Greenwich, Preliminary FY20 Competitor Analysis. Market
share represents Barclays share of the Global Industry Revenue
Pool. Analysis is based on Barclays internal business structure and
internal revenues.
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4
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Period covering
Q114-Q420. Pre 2014 financials were not restated following
re-segmentation in Q116.
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5
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Excluding
litigation and conduct.
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6
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On 12 February
2021 the Prudential Regulation Authority (PRA) launched a
consultation on certain items within the Basel standards that
remain to be implemented in the UK as well as setting out proposed
new PRA CRR rules. The proposals include reverting to the
previous treatment of 100% CET1 capital deduction for qualifying
software assets by the end of 2021, meaning the benefit in the CET1
ratio is likely to be reversed in future
periods.
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Outlook
Remains
uncertain and subject to change depending on the evolution and
persistence of the COVID-19 pandemic
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Returns
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||
●
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Barclays expects to
deliver meaningful year-on-year RoTE improvement in
2021
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Income
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●
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Headwinds to income
in Barclays UK are expected to persist in 2021 and the medium-term,
including the subdued demand for unsecured lending and the low
interest rate environment
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●
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Within
Barclays International, CC&P income outlook remains uncertain
and contingent on the evolution of US and UK spending and cards
balances; after a strong 2020 CIB performance, driven by Markets
and Banking income, the franchise is well positioned for the
future
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||
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Impairment
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|||
●
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Provided
macroeconomic assumptions remain consistent with expectations, the
Group expects that the full year 2021 impairment charge will be
materially below that of 2020
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||
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Costs
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|||
●
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COVID-19 related
expenses are likely to remain elevated in 2021. However, the Group
will continue to drive efficiencies while investing in its
franchise where appropriate
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Capital
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●
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Barclays remains in
a strong capital position with a year end CET1 ratio of
15.1%
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●
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Certain
headwinds to capital are likely in 2021, including procyclical
effects on RWAs, reversal of regulatory forbearance applied through
2020 and increased pension contributions
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Capital
distributions
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|||
●
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Barclays
understands the importance of delivering attractive total cash
returns to shareholders
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||
●
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Announced a total
payout equivalent to 5.0p per share, consistent with the temporary
guardrails announced by the PRA in December 2020,
comprising:
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-
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1.0p
2020 full year dividend; and the
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-
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Intention to
initiate a share buyback of up to £700m, which is expected to
commence in Q121
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Targets
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Barclays remains
committed to its medium term targets:
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●
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Returns: RoTE of
greater than 10% over time
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●
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Cost
efficiency: Cost: income ratio below 60% over time
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●
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Capital
adequacy: CET1 ratio in the range of 13-14%
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Barclays Group results
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||
for the year ended
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31.12.20
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31.12.19
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£m
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£m
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% Change
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Net interest income
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8,122
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9,407
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(14)
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Net fee, commission and other income
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13,644
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12,225
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12
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Total income
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21,766
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21,632
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1
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Credit impairment charges
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(4,838)
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(1,912)
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Net operating income
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16,928
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19,720
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(14)
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Operating costs
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(13,434)
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(13,359)
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(1)
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UK bank levy
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(299)
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(226)
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(32)
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Operating expenses
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(13,733)
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(13,585)
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(1)
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Litigation and conduct
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(153)
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(1,849)
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92
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Total operating expenses
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(13,886)
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(15,434)
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10
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Other net income
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23
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71
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(68)
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Profit before tax
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3,065
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4,357
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(30)
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Tax charge
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(604)
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(1,003)
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40
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Profit after tax
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2,461
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3,354
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(27)
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Non-controlling interests
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(78)
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(80)
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3
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Other equity instrument holders
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(857)
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(813)
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(5)
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Attributable profit
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1,526
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2,461
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(38)
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Performance measures
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|
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Return on average tangible shareholders' equity
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3.2%
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5.3%
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Average tangible shareholders' equity (£bn)
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48.3
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46.6
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Cost: income ratio
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64%
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71%
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Loan loss rate (bps)
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138
|
55
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|
Basic earnings per share
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8.8p
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14.3p
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(38)
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Dividend per share1
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1.0p
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3.0p
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|
Share buyback announced2
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700
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-
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|
Total
payout equivalent per share
|
5.0p
|
3.0p
|
67
|
|
|
|
|
Performance measures excluding
litigation and conduct3
|
|
|
|
Profit before tax
|
3,218
|
6,206
|
(48)
|
Attributable profit
|
1,638
|
4,194
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(61)
|
Return on average tangible shareholders' equity
|
3.4%
|
9.0%
|
|
Cost: income ratio
|
63%
|
63%
|
|
Basic earnings per share
|
9.5p
|
24.4p
|
(61)
|
|
|
|
|
Balance sheet and capital
management4
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£bn
|
£bn
|
|
Loans and advances at amortised cost
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342.6
|
339.1
|
1
|
Deposits at amortised cost
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481.0
|
415.8
|
16
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Tangible net asset value per share
|
269p
|
262p
|
3
|
Common equity tier 1 ratio
|
15.1%
|
13.8%
|
|
Common equity tier 1 capital
|
46.3
|
40.8
|
|
Risk weighted assets
|
306.2
|
295.1
|
|
Average UK leverage ratio
|
5.0%
|
4.5%
|
|
UK leverage ratio
|
5.3%
|
5.1%
|
|
|
|
|
|
Funding and liquidity
|
|
|
|
Group liquidity pool (£bn)
|
266
|
211
|
26
|
Liquidity coverage ratio
|
162%
|
160%
|
|
Loan: deposit ratio
|
71%
|
82%
|
|
1
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In response to
a request from the PRA, and to preserve additional capital for use
in serving Barclays customers and clients through the extraordinary
challenges presented by the COVID-19 pandemic, the Board agreed to
cancel the 6.0p per ordinary share full year 2019
dividend.
|
2
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Barclays
intends to initiate a share buyback of up to £700m, which is
expected to commence in Q121.
|
3
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Refer to pages
65 to 74 for further information and calculations of performance
measures excluding litigation and conduct.
|
4
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Refer to pages
45 to 51 for further information on how capital, RWAs and leverage
are calculated.
|
1
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Across Equity
and Debt Capital Markets in Q220-Q420.
|
2
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Total payment
holidays granted as at 31 December 2020, business lending and
commercial paper issuance data as at 12 and 15 February 2021
respectively.
|
3
|
Excluding
litigation and conduct.
|
4
|
Period covering
Q114 – Q420. Pre 2014 financials were not restated following
re-segmentation in Q116.
|
●
|
Statutory
RoTE was 3.2% (2019: 5.3%) and statutory EPS was 8.8p (2019:
14.3p)
|
●
|
Profit
before tax was £3,065m (2019: £4,357m). Excluding
litigation and conduct, profit before tax was £3,218m (2019:
£6,206m)
|
●
|
Pre-provision
profits1
were broadly stable at £8,056m despite the pandemic,
benefitting from the Group’s diversified business model,
which included a strong performance in CIB offset by headwinds in
Barclays UK and CC&P
|
●
|
Total
income increased to £21,766m (2019: £21,632m). Barclays
UK income decreased 14%. Barclays International income increased
8%, with CIB income up 22% and CC&P income down
22%
|
●
|
Credit
impairment charges increased to £4,838m (2019: £1,912m)
due to the deterioration in economic outlook driven by the COVID-19
pandemic. The current year charge is broadly driven by £2,323m
of non-default provision for expected future customer and client
stress and £800m of single name wholesale loan charges. The
expected credit loss (ECL) provision remains highly uncertain as
the economic impact of the global pandemic continues to
evolve
|
●
|
Operating
expenses increased 1% to £13,733m, including structural cost
actions and additional COVID-19 related costs, resulting in a cost:
income ratio, excluding litigation and conduct, of 63% (2019: 63%).
Excluding structural cost actions of £368m (2019: £150m)
and £95m spend to date of Barclays’ COVID-19 Community
Aid Package, operating expenses would have been £13,270m
(2019: £13,435m), reflecting disciplined cost management and
efficiencies, resulting in a cost: income ratio of 61% (2019:
62%)
|
●
|
Attributable
profit was £1,526m (2019: £2,461m). Excluding litigation
and conduct, attributable profit was £1,638m (2019:
£4,194m), generating a RoTE of 3.4% (2019: 9.0%) and EPS of
9.5p (2019: 24.4p)
|
●
|
Total
assets increased to £1,350bn (December 2019: £1,140bn)
primarily due to a £73bn increase in derivative assets driven
by a decrease in major interest rate curves and increased client
activity, a £42bn increase in financial assets at fair value
due to an increase in reverse repurchase agreements and similar
secured lending and £41bn increase in cash and balances at
central banks
|
●
|
Loans
and advances at amortised cost increased by £4bn to
£343bn, which reflected £12bn of lending under the
government backed loan schemes and £5bn of mortgage growth,
partially offset by lower unsecured lending balances
|
●
|
Deposits
at amortised cost increased by £65bn to £481bn primarily
due to CIB clients increasing liquidity, and lower consumer
spending levels
|
●
|
Tangible
net asset value (TNAV) per share increased to 269p (December 2019:
262p) primarily reflecting 8.8p of statutory EPS
|
●
|
The
CET1 ratio increased to 15.1% (December 2019: 13.8%), reflecting
headroom of 3.9% above the Maximum Distributable Amount (MDA)
hurdle of 11.2%
|
|
|
-
|
CET1
capital increased by £5.5bn to £46.3bn reflecting
resilient capital generation through £7.9bn of profit before
tax, excluding credit impairment charges of £4.8bn, and a
£1.0bn increase due to the cancellation of the full year 2019
dividend. These increases were partially offset by £0.9bn of
AT1 coupons paid and the announced 1.0p full year 2020 dividend.
The CET1 capital increase also reflects regulatory measures for
IFRS 9 transitional relief, prudent valuation and qualifying
software assets
|
|
-
|
RWAs
increased by £11.1bn to £306.2bn primarily due to higher
market volatility, increased client activity and a reduction in
credit quality within CIB, partially offset by lower consumer
lending
|
●
|
The
average UK leverage ratio increased to 5.0% (December 2019: 4.5%)
primarily driven by the increase in Tier 1 (T1) capital. The
average leverage exposure increased to £1,147bn (December
2019: £1,143bn) primarily driven by an increase in securities
financing transactions (SFTs) and trading portfolio assets (TPAs)
largely driven by an increase in secured lending and client
activity within CIB, partially offset by the PRA’s early
adoption of CRR II settlement netting
|
1
|
Excluding litigation and
conduct.
|
●
|
The
liquidity pool was £266bn (December 2019: £211bn) and the
liquidity coverage ratio (LCR) remained significantly above the
100% regulatory requirement at 162% (December 2019: 160%),
equivalent to a surplus of £99bn (December 2019: £78bn).
The increase in the liquidity pool, LCR and surplus over the year
was driven by a 16% growth in deposits, which was largely a
consequence of government and central bank policy response to the
COVID-19 pandemic. The reduction in Q420 reflects actions taken to
manage down surplus liquidity proactively as the prevailing
uncertainty from earlier in the year abated
|
●
|
Wholesale
funding outstanding, excluding repurchase agreements, was
£145.0bn (December 2019: £147.1bn). The Group issued
£7.9bn equivalent of minimum requirement for own funds and
eligible liabilities (MREL) instruments from Barclays PLC (the
Parent company) during the year. The Group is well advanced in its
MREL issuance plans relative to the estimated 1 January 2022
requirement
|
●
|
As at
31 December 2020, the Group held a residual provision of £129m
relating to PPI, following a provision release of £55m in Q420
on resolution of the items received up to and including Q319.
Observations from resolved complaints support the residual
provision level, which is expected to be utilised in
2021
|
●
|
Following
the UK’s exit from the EU on 31 December 2020, Barclays
remains well positioned to continue providing services in the EU
through Barclays Europe (operating through Barclays Bank Ireland
PLC) which was expanded post the EU referendum vote to ensure
continuity of services to Barclays International clients in
Europe
|
●
|
The
High Court has indicated that judgment in relation to the civil
action brought against Barclays Bank PLC by PCP Capital Partners
LLP and PCP International Finance Limited, under which PCP is
seeking damages of up to approximately £819m, is imminent. The
outcome of the judgement, and any financial impact on the Group, is
unknown. Barclays is defending the claim. See Note 26 to the
audited financial statements for the year ended 31 December 2020
contained in the Barclays PLC Annual Report 2020 for further
details
|
●
|
Barclays
understands the importance of delivering attractive total cash
returns to shareholders. Barclays is therefore committed to
maintaining an appropriate balance between total cash returns to
shareholders, investment in the business and maintaining a strong
capital position. Going forward, Barclays intends to pay a
progressive ordinary dividend, taking into account these objectives
and the earnings outlook of the Group. It is also the Board’s
intention to continue to supplement the ordinary dividends with
additional cash returns, including share buybacks, to shareholders
as and when appropriate
|
|
●
|
Announced
a total payout equivalent to 5.0p per share, consistent with the
temporary guardrails announced by the PRA in December 2020,
comprising:
|
|
|
-
|
1.0p
2020 full year dividend; and the
|
|
-
|
Intention
to initiate a share buyback of up to £700m which is expected
to commence in Q121
|
Barclays UK
|
Year ended
|
Year ended
|
|
31.12.20
|
31.12.19
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
5,234
|
5,888
|
(11)
|
Net fee, commission and other income
|
1,113
|
1,465
|
(24)
|
Total income
|
6,347
|
7,353
|
(14)
|
Credit impairment charges
|
(1,467)
|
(712)
|
|
Net operating income
|
4,880
|
6,641
|
(27)
|
Operating costs
|
(4,270)
|
(3,996)
|
(7)
|
UK bank levy
|
(50)
|
(41)
|
(22)
|
Operating expenses
|
(4,320)
|
(4,037)
|
(7)
|
Litigation and conduct
|
(32)
|
(1,582)
|
98
|
Total operating expenses
|
(4,352)
|
(5,619)
|
23
|
Other net income
|
18
|
-
|
|
Profit before tax
|
546
|
1,022
|
(47)
|
Attributable profit
|
325
|
281
|
16
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
Loans and advances to customers at amortised cost
|
205.4
|
193.7
|
|
Total assets
|
289.1
|
257.8
|
|
Customer deposits at amortised cost
|
240.5
|
205.5
|
|
Loan: deposit ratio
|
89%
|
96%
|
|
Risk weighted assets
|
73.7
|
74.9
|
|
Period end allocated tangible equity
|
9.7
|
10.3
|
|
|
|
|
|
Key facts
|
|
|
|
Average loan to value of mortgage portfolio1
|
51%
|
51%
|
|
Average loan to value of new mortgage lending1
|
68%
|
68%
|
|
Number of branches
|
859
|
963
|
|
Mobile banking active customers
|
9.2m
|
8.4m
|
|
30 day arrears rate - Barclaycard Consumer UK
|
1.7%
|
1.7%
|
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
3.2%
|
2.7%
|
|
Average allocated tangible equity (£bn)
|
10.1
|
10.3
|
|
Cost: income ratio
|
69%
|
76%
|
|
Loan loss rate (bps)
|
68
|
36
|
|
Net interest margin
|
2.61%
|
3.09%
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
|
Profit before tax
|
578
|
2,604
|
(78)
|
Attributable profit
|
343
|
1,813
|
(81)
|
Return on average allocated tangible equity
|
3.4%
|
17.5%
|
|
Cost: income ratio
|
68%
|
55%
|
|
1
|
Average loan to
value of mortgages is balance weighted and reflects both
residential and buy-to-let (BTL) mortgage portfolios within the
Home Loans portfolio.
|
2
|
Refer to pages
65 to 74 for further information and calculations of performance
measures excluding litigation and conduct.
|
Analysis of Barclays UK
|
Year ended
|
Year ended
|
|
31.12.20
|
31.12.19
|
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
Personal Banking
|
3,522
|
4,009
|
(12)
|
Barclaycard Consumer UK
|
1,519
|
1,992
|
(24)
|
Business Banking
|
1,306
|
1,352
|
(3)
|
Total income
|
6,347
|
7,353
|
(14)
|
|
|
|
|
Analysis of credit impairment charges
|
|
|
|
Personal Banking
|
(380)
|
(195)
|
(95)
|
Barclaycard Consumer UK
|
(881)
|
(472)
|
(87)
|
Business Banking
|
(206)
|
(45)
|
|
Total credit impairment charges
|
(1,467)
|
(712)
|
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
|
Personal Banking
|
157.3
|
151.9
|
|
Barclaycard Consumer UK
|
9.9
|
14.7
|
|
Business Banking
|
38.2
|
27.1
|
|
Total loans and advances to customers at amortised
cost
|
205.4
|
193.7
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
Personal Banking
|
179.7
|
159.2
|
|
Barclaycard Consumer UK
|
0.1
|
-
|
|
Business Banking
|
60.7
|
46.3
|
|
Total customer deposits at amortised cost
|
240.5
|
205.5
|
|
●
|
Profit
before tax, excluding litigation and conduct, decreased 78% to
£578m. RoTE was 3.4% (2019: 17.5%) reflecting a challenging
operating environment and materially higher credit impairment
charges
|
|
●
|
Total
income decreased 14% to £6,347m. Net interest income reduced
11% to £5,234m with a net interest margin (NIM) of 2.61%
(2019: 3.09%). Net fee, commission and other income decreased 24%
to £1,113m
|
|
|
-
|
Personal
Banking income decreased 12% to £3,522m, reflecting deposit
margin compression from lower interest rates, lower unsecured
lending balances, and COVID-19 customer support actions, partially
offset by balance growth in deposits and mortgages, as well as the
transfer of Barclays Partner Finance (BPF) from Barclays
International in Q220
|
|
-
|
Barclaycard
Consumer UK income decreased 24% to £1,519m as reduced
borrowing and spend levels by customers resulted in a lower level
of interest earning lending (IEL) balances, as well as lower debt
sales
|
|
-
|
Business
Banking income decreased 3% to £1,306m due to deposit margin
compression from lower interest rates, lower transactional fee
volumes as a result of COVID-19 and related customer support
actions, partially offset by lending and deposit balance growth
from continued support for SMEs through £11.0bn of BBLS and
CBILS loans
|
●
|
Credit
impairment charges increased to £1,467m (2019: £712m) due
to the deterioration in economic outlook driven by the COVID-19
pandemic. The current year charge is broadly driven by £847m
of non-default provision for expected future customer and client
stress. As at 31 December 2020, 30 and 90 day arrears rates in UK
cards were 1.7% (Q419: 1.7%) and 0.8% (Q419: 0.8%)
respectively
|
|
●
|
Operating
expenses increased 7% to £4,320m reflecting investment spend
including structural cost actions, higher servicing and financial
assistance costs, and the transfer of BPF, partially offset by
efficiency savings
|
●
|
Loans
and advances to customers at amortised cost increased 6% to
£205.4bn predominantly from continued support for SMEs through
£11.0bn of BBLS and CBILS lending, £5.1bn of mortgage
growth following a strong flow of new applications as well as
strong customer retention and the £2.4bn transfer of BPF,
partially offset by £6.6bn lower unsecured lending
balances
|
●
|
Customer
deposits at amortised cost increased 17% to £240.5bn
reflecting an increase of £20.5bn and £14.4bn in Personal
Banking and Business Banking respectively, further strengthening
the liquidity position and contributing to a loan: deposit ratio of
89% (2019: 96%)
|
●
|
RWAs
decreased to £73.7bn (December 2019: £74.9bn) driven by
lower unsecured lending balances, partially offset by growth in
mortgages and the transfer of BPF
|
Barclays International
|
Year ended
|
Year ended
|
|
31.12.20
|
31.12.19
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
3,282
|
3,941
|
(17)
|
Net trading income
|
6,920
|
4,199
|
65
|
Net fee, commission and other income
|
5,719
|
6,535
|
(12)
|
Total income
|
15,921
|
14,675
|
8
|
Credit impairment charges
|
(3,280)
|
(1,173)
|
|
Net operating income
|
12,641
|
13,502
|
(6)
|
Operating costs
|
(8,765)
|
(9,163)
|
4
|
UK bank levy
|
(240)
|
(174)
|
(38)
|
Operating expenses
|
(9,005)
|
(9,337)
|
4
|
Litigation and conduct
|
(48)
|
(116)
|
59
|
Total operating expenses
|
(9,053)
|
(9,453)
|
4
|
Other net income
|
28
|
69
|
(59)
|
Profit before tax
|
3,616
|
4,118
|
(12)
|
Attributable profit
|
2,220
|
2,816
|
(21)
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
Loans and advances at amortised cost
|
122.7
|
132.8
|
|
Trading portfolio assets
|
127.7
|
113.3
|
|
Derivative financial instrument assets
|
301.8
|
228.9
|
|
Financial assets at fair value through the income
statement
|
170.7
|
128.4
|
|
Cash collateral and settlement balances
|
97.5
|
79.4
|
|
Other assets
|
221.4
|
178.6
|
|
Total assets
|
1,041.8
|
861.4
|
|
Deposits at amortised cost
|
240.5
|
210.0
|
|
Derivative financial instrument liabilities
|
300.4
|
228.9
|
|
Loan: deposit ratio
|
51%
|
63%
|
|
Risk weighted assets
|
222.3
|
209.2
|
|
Period end allocated tangible equity
|
30.2
|
29.6
|
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
7.1%
|
9.0%
|
|
Average allocated tangible equity (£bn)
|
31.5
|
31.2
|
|
Cost: income ratio
|
57%
|
64%
|
|
Loan loss rate (bps)
|
257
|
86
|
|
Net interest margin
|
3.64%
|
4.07%
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
|
Profit before tax
|
3,664
|
4,234
|
(13)
|
Attributable profit
|
2,258
|
2,906
|
(22)
|
Return on average allocated tangible equity
|
7.2%
|
9.3%
|
|
Cost: income ratio
|
57%
|
64%
|
|
1
|
Refer to pages 65 to 74 for further
information and calculations of performance measures excluding
litigation and conduct.
|
Analysis of Barclays International
|
|
|
|
Corporate and Investment Bank
|
Year ended
|
Year ended
|
|
31.12.20
|
31.12.19
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
FICC
|
5,138
|
3,364
|
53
|
Equities
|
2,471
|
1,887
|
31
|
Markets
|
7,609
|
5,251
|
45
|
Advisory
|
561
|
776
|
(28)
|
Equity capital markets
|
473
|
329
|
44
|
Debt capital markets
|
1,697
|
1,430
|
19
|
Banking fees
|
2,731
|
2,535
|
8
|
Corporate lending
|
590
|
765
|
(23)
|
Transaction banking
|
1,546
|
1,680
|
(8)
|
Corporate
|
2,136
|
2,445
|
(13)
|
Total income
|
12,476
|
10,231
|
22
|
Credit impairment charges
|
(1,559)
|
(157)
|
|
Net operating income
|
10,917
|
10,074
|
8
|
Operating costs
|
(6,689)
|
(6,882)
|
3
|
UK bank levy
|
(226)
|
(156)
|
(45)
|
Operating expenses
|
(6,915)
|
(7,038)
|
2
|
Litigation and conduct
|
(4)
|
(109)
|
96
|
Total operating expenses
|
(6,919)
|
(7,147)
|
3
|
Other net income
|
6
|
28
|
(79)
|
Profit before tax
|
4,004
|
2,955
|
35
|
Attributable profit
|
2,554
|
1,980
|
29
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
Loans and advances at amortised cost
|
92.4
|
92.0
|
|
Trading portfolio assets
|
127.5
|
113.3
|
|
Derivative financial instrument assets
|
301.7
|
228.8
|
|
Financial assets at fair value through the income
statement
|
170.4
|
127.7
|
|
Cash collateral and settlement balances
|
96.7
|
78.5
|
|
Other assets
|
194.9
|
155.3
|
|
Total assets
|
983.6
|
795.6
|
|
Deposits at amortised cost
|
175.2
|
146.2
|
|
Derivative financial instrument liabilities
|
300.3
|
228.9
|
|
Risk weighted assets
|
192.2
|
171.5
|
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
9.5%
|
7.6%
|
|
Average allocated tangible equity (£bn)
|
27.0
|
25.9
|
|
Cost: income ratio
|
55%
|
70%
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
|
Profit before tax
|
4,008
|
3,064
|
31
|
Attributable profit
|
2,556
|
2,064
|
24
|
Return on average allocated tangible equity
|
9.5%
|
8.0%
|
|
Cost: income ratio
|
55%
|
69%
|
|
1
|
Refer to pages 65 to 74 for further
information and calculations of performance measures excluding
litigation and conduct.
|
Analysis of Barclays International
|
|
|
|
Consumer, Cards and Payments
|
Year ended
|
Year ended
|
|
31.12.20
|
31.12.19
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
2,198
|
2,822
|
(22)
|
Net fee, commission, trading and other income
|
1,247
|
1,622
|
(23)
|
Total income
|
3,445
|
4,444
|
(22)
|
Credit impairment charges
|
(1,721)
|
(1,016)
|
(69)
|
Net operating income
|
1,724
|
3,428
|
(50)
|
Operating costs
|
(2,076)
|
(2,281)
|
9
|
UK bank levy
|
(14)
|
(18)
|
22
|
Operating expenses
|
(2,090)
|
(2,299)
|
9
|
Litigation and conduct
|
(44)
|
(7)
|
|
Total operating expenses
|
(2,134)
|
(2,306)
|
7
|
Other net income
|
22
|
41
|
(46)
|
(Loss)/profit before tax
|
(388)
|
1,163
|
|
Attributable (loss)/profit
|
(334)
|
836
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
Loans and advances at amortised cost
|
30.3
|
40.8
|
|
Total assets
|
58.2
|
65.8
|
|
Deposits at amortised cost
|
65.3
|
63.8
|
|
Risk weighted assets
|
30.1
|
37.7
|
|
|
|
|
|
Key facts
|
|
|
|
30 day arrears rate – Barclaycard US
|
2.5%
|
2.7%
|
|
US cards customer FICO score distribution
|
|
|
|
<660
|
13%
|
14%
|
|
>660
|
87%
|
86%
|
|
Total number of Barclaycard payments clients
|
c.365,000
|
c.376,000
|
|
Value of payments processed (£bn)1
|
274
|
354
|
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
(7.5%)
|
15.8%
|
|
Average allocated tangible equity (£bn)
|
4.5
|
5.3
|
|
Cost: income ratio
|
62%
|
52%
|
|
Loan loss rate (bps)
|
517
|
234
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
|
(Loss)/profit before tax
|
(344)
|
1,170
|
|
Attributable (loss)/profit
|
(298)
|
842
|
|
Return on average allocated tangible equity
|
(6.7%)
|
15.9%
|
|
Cost: income ratio
|
61%
|
52%
|
|
1
|
Includes £268bn (2019:
£272bn) of merchant acquiring payments.
|
2
|
Refer to pages 65 to 74 for further
information and calculations of performance measures excluding
litigation and conduct.
|
●
|
Profit
before tax, excluding litigation and conduct, decreased 13% to
£3,664m with a RoTE of 7.2% (2019: 9.3%), reflecting a RoTE of
9.5% (2019: 8.0%) in CIB and (6.7)% (2019: 15.9%) in
CC&P
|
||
●
|
Total
income increased to £15,921m (2019:
£14,675m)
|
||
|
-
|
CIB
income increased 22% to £12,476m driven by Markets and Banking
which both had their best ever year on a comparable
basis1
|
|
|
-
|
Markets
income increased 45% to £7,609m reflecting gains in market share as
well as an increase in market size2. FICC income increased 53% to
£5,138m driven by strong performances in macro and credit,
mainly reflecting wider spreads. Equities income increased 31% to
£2,471m driven by derivatives and cash due to higher levels of
client activity and volatility
|
|
|
-
|
Banking
fees income increased 8% to £2,731m as a strong performance in
equity and debt capital markets, driven by market size, was offset
by lower fee income in advisory, which was impacted by a reduced
fee pool3
|
|
|
-
|
Within
Corporate, Transaction banking income decreased 8% to £1,546m
as deposit balance growth was more than offset by margin
compression. Corporate lending income decreased by 23% to
£590m reflecting c.£210m of losses on the mark to market
of lending and related hedge positions, and the carry costs of
those hedges
|
|
|
-
|
CC&P
income decreased 22% to £3,445m reflecting lower cards
balances, margin compression and reduced payments activity, which
were impacted by the COVID-19 pandemic, and the transfer of BPF to
Barclays UK in Q220. Q220 included a c.£100m valuation loss on
Barclays’ preference shares in Visa Inc. resulting from the
impact of the Supreme Court ruling concerning charges paid by
merchants
|
|
●
|
Credit
impairment charges increased to £3,280m (2019:
£1,173m)
|
||
|
-
|
CIB
credit impairment charges increased to £1,559m (2019:
£157m) due to the deterioration in economic outlook driven by
the COVID-19 pandemic. The current year charge is broadly driven by
£711m of non-default provision for future expected customer
and client stress and c.£800m of single name wholesale loan
charges
|
|
|
-
|
CC&P
credit impairment charges increased to £1,721m (2019:
£1,016m) due to the deterioration in economic outlook driven
by the COVID-19 pandemic. The current year charge is broadly driven
by £752m of non-default provisions for future expected
customer and client stress. As at 31 December 2020, 30 and 90 day
arrears in US cards were 2.5% (Q419: 2.7%) and 1.4% (Q419: 1.4%)
respectively
|
|
●
|
Operating
expenses decreased 4% to £9,005m
|
||
|
-
|
CIB
operating expenses decreased 2% to £6,915m due to cost
efficiencies and discipline in the current environment partially
offset by a higher bank levy charge mainly due to the
non-recurrence of prior year adjustments
|
|
|
-
|
CC&P
operating expenses decreased 9% to £2,090m reflecting cost
efficiencies, lower marketing spend due to the impacts of the
COVID-19 pandemic and transfer of BPF
|
●
|
Loans
and advances at amortised cost decreased £10.1bn to
£122.7bn due to lower unsecured lending balances in
CC&P
|
●
|
Trading
portfolio assets increased £14.4bn to £127.7bn due to
increased client activity
|
●
|
Derivative
financial instruments assets increased £72.9bn and liabilities
increased £71.5bn to £301.8bn and £300.4bn
respectively driven by a decrease in major interest rate curves and
increased client activity
|
●
|
Financial
assets at fair value through the income statement increased
£42.3bn to £170.7bn driven by reverse repurchase
agreements and similar secured lending
|
●
|
Cash
collateral and settlements increased £18.1bn to £97.5bn
predominantly due to increased activity
|
●
|
Other
assets increased £42.8bn to £221.4bn due to an increase
in cash at central banks and securities within the liquidity
pool
|
●
|
Deposits
at amortised cost increased £30.5bn to £240.5bn due to
CIB clients increasing liquidity
|
●
|
RWAs
increased to £222.3bn (December 2019: £209.2bn) primarily
due to increased market volatility, client activity and a reduction
in credit quality within CIB, partially offset by lower CC&P
balances
|
1
|
Period covering Q114 – Q420. Pre
2014 financials were not restated following re-segmentation in
Q116.
|
2
|
Data source: Coalition Greenwich,
Preliminary FY20 Competitor Analysis. Market share represents
Barclays share of the Global Industry Revenue Pool. Analysis is
based on Barclays internal business structure and internal
revenues.
|
3
|
Data source: Dealogic for the period
covering 1 January to 31 December 2020.
|
Head Office
|
Year ended
|
Year ended
|
|
31.12.20
|
31.12.19
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
(393)
|
(422)
|
7
|
Net fee, commission and other income
|
(109)
|
26
|
|
Total income
|
(502)
|
(396)
|
(27)
|
Credit impairment charges
|
(91)
|
(27)
|
|
Net operating income
|
(593)
|
(423)
|
(40)
|
Operating costs
|
(399)
|
(200)
|
(100)
|
UK bank levy
|
(9)
|
(11)
|
18
|
Operating expenses
|
(408)
|
(211)
|
(93)
|
Litigation and conduct
|
(73)
|
(151)
|
52
|
Total operating expenses
|
(481)
|
(362)
|
(33)
|
Other net (expenses)/income
|
(23)
|
2
|
|
Loss before tax
|
(1,097)
|
(783)
|
(40)
|
Attributable loss
|
(1,019)
|
(636)
|
(60)
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
Total assets
|
18.6
|
21.0
|
|
Risk weighted assets
|
10.2
|
11.0
|
|
Period end allocated tangible equity
|
6.8
|
5.6
|
|
|
|
|
|
Performance measures
|
|
|
|
Average allocated tangible equity (£bn)
|
6.7
|
5.1
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
|
Loss before tax
|
(1,024)
|
(632)
|
(62)
|
Attributable loss
|
(963)
|
(525)
|
(83)
|
1
|
Refer to pages 65 to 74 for further
information and calculations of performance measures excluding
litigation and conduct.
|
●
|
Loss
before tax, excluding litigation and conduct, was £1,024m
(2019: £632m)
|
●
|
Total income was an
expense of £502m (2019: £396m), which reflected treasury
items and hedge accounting, mark-to-market losses on legacy
investments and funding costs on legacy capital instruments,
including £85m from repurchases of some of the Barclays Bank
PLC 7.625% Contingent Capital Notes. This was partially offset by
the recognition of dividends on Barclays’ stake in Absa Group
Limited |
●
|
Credit
impairment increased to £91m (2019: £27m) due to the
deterioration in economic outlook driven by the COVID-19 pandemic.
The current year charge is broadly driven by provision for future
expected customer stress in the Italian home loan
portfolio
|
●
|
Operating expenses
were £408m (2019: £211m), which included c.£150m of
cost actions, principally related to the discontinued use of
certain software assets and £95m of charitable donations from
Barclays’ COVID-19 Community Aid Package
|
●
|
Other
net expenses were £23m (2019: income of £2m), which
included a fair value loss on an investment in an
associate
|
●
|
RWAs
decreased to £10.2bn (December 2019: £11.0bn) driven by
the reduction in value of Barclays’ stake in Absa Group
Limited
|
Barclays Group
|
||||||||||
|
Q420
|
Q320
|
Q220
|
Q120
|
|
Q419
|
Q319
|
Q219
|
Q119
|
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Net interest income
|
1,845
|
2,055
|
1,892
|
2,331
|
|
2,344
|
2,445
|
2,360
|
2,258
|
|
Net fee, commission and other income
|
3,096
|
3,149
|
3,446
|
3,952
|
|
2,957
|
3,096
|
3,178
|
2,994
|
|
Total income
|
4,941
|
5,204
|
5,338
|
6,283
|
|
5,301
|
5,541
|
5,538
|
5,252
|
|
Credit impairment charges
|
(492)
|
(608)
|
(1,623)
|
(2,115)
|
|
(523)
|
(461)
|
(480)
|
(448)
|
|
Net operating income
|
4,449
|
4,596
|
3,715
|
4,168
|
|
4,778
|
5,080
|
5,058
|
4,804
|
|
Operating costs
|
(3,480)
|
(3,391)
|
(3,310)
|
(3,253)
|
|
(3,308)
|
(3,293)
|
(3,501)
|
(3,257)
|
|
UK bank levy
|
(299)
|
-
|
-
|
-
|
|
(226)
|
-
|
-
|
-
|
|
Operating expenses
|
(3,779)
|
(3,391)
|
(3,310)
|
(3,253)
|
|
(3,534)
|
(3,293)
|
(3,501)
|
(3,257)
|
|
Litigation and conduct
|
(47)
|
(76)
|
(20)
|
(10)
|
|
(167)
|
(1,568)
|
(53)
|
(61)
|
|
Total operating expenses
|
(3,826)
|
(3,467)
|
(3,330)
|
(3,263)
|
|
(3,701)
|
(4,861)
|
(3,554)
|
(3,318)
|
|
Other net income/(expenses)
|
23
|
18
|
(26)
|
8
|
|
20
|
27
|
27
|
(3)
|
|
Profit before tax
|
646
|
1,147
|
359
|
913
|
|
1,097
|
246
|
1,531
|
1,483
|
|
Tax charge
|
(163)
|
(328)
|
(42)
|
(71)
|
|
(189)
|
(269)
|
(297)
|
(248)
|
|
Profit/(loss) after tax
|
483
|
819
|
317
|
842
|
|
908
|
(23)
|
1,234
|
1,235
|
|
Non-controlling interests
|
(37)
|
(4)
|
(21)
|
(16)
|
|
(42)
|
(4)
|
(17)
|
(17)
|
|
Other equity instrument holders
|
(226)
|
(204)
|
(206)
|
(221)
|
|
(185)
|
(265)
|
(183)
|
(180)
|
|
Attributable profit/(loss)
|
220
|
611
|
90
|
605
|
|
681
|
(292)
|
1,034
|
1,038
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
1.8%
|
5.1%
|
0.7%
|
5.1%
|
|
5.9%
|
(2.4%)
|
9.0%
|
9.2%
|
|
Average tangible shareholders' equity (£bn)
|
47.6
|
48.3
|
50.2
|
47.0
|
|
46.4
|
48.4
|
46.2
|
45.2
|
|
Cost: income ratio
|
77%
|
67%
|
62%
|
52%
|
|
70%
|
88%
|
64%
|
63%
|
|
Loan loss rate (bps)
|
56
|
69
|
179
|
223
|
|
60
|
52
|
56
|
54
|
|
Basic earnings/(loss) per share
|
1.3p
|
3.5p
|
0.5p
|
3.5p
|
|
3.9p
|
(1.7p)
|
6.0p
|
6.1p
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Profit before tax
|
693
|
1,223
|
379
|
923
|
|
1,264
|
1,814
|
1,584
|
1,544
|
|
Attributable profit
|
260
|
668
|
106
|
604
|
|
803
|
1,233
|
1,074
|
1,084
|
|
Return on average tangible shareholders' equity
|
2.2%
|
5.5%
|
0.8%
|
5.1%
|
|
6.9%
|
10.2%
|
9.3%
|
9.6%
|
|
Cost: income ratio
|
76%
|
65%
|
62%
|
52%
|
|
67%
|
59%
|
63%
|
62%
|
|
Basic earnings per share
|
1.5p
|
3.9p
|
0.6p
|
3.5p
|
|
4.7p
|
7.2p
|
6.3p
|
6.3p
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet and capital
management2
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
Loans and advances at amortised cost
|
342.6
|
344.4
|
354.9
|
374.1
|
|
339.1
|
345.1
|
339.3
|
330.7
|
|
Total assets
|
1,349.5
|
1,421.7
|
1,385.1
|
1,444.3
|
|
1,140.2
|
1,290.4
|
1,232.8
|
1,193.5
|
|
Deposits at amortised cost
|
481.0
|
494.6
|
466.9
|
470.7
|
|
415.8
|
420.6
|
413.6
|
412.7
|
|
Tangible net asset value per share
|
269p
|
275p
|
284p
|
284p
|
|
262p
|
274p
|
275p
|
266p
|
|
Common equity tier 1 ratio
|
15.1%
|
14.6%
|
14.2%
|
13.1%
|
|
13.8%
|
13.4%
|
13.4%
|
13.0%
|
|
Common equity tier 1 capital
|
46.3
|
45.5
|
45.4
|
42.5
|
|
40.8
|
41.9
|
42.9
|
41.4
|
|
Risk weighted assets
|
306.2
|
310.7
|
319.0
|
325.6
|
|
295.1
|
313.3
|
319.1
|
319.7
|
|
Average UK leverage ratio
|
5.0%
|
5.1%
|
4.7%
|
4.5%
|
|
4.5%
|
4.6%
|
4.7%
|
4.6%
|
|
Average UK leverage exposure
|
1,146.9
|
1,111.1
|
1,148.7
|
1,176.2
|
|
1,142.8
|
1,171.2
|
1,134.6
|
1,105.5
|
|
UK leverage ratio
|
5.3%
|
5.2%
|
5.2%
|
4.5%
|
|
5.1%
|
4.8%
|
5.1%
|
4.9%
|
|
UK leverage exposure
|
1,090.9
|
1,095.1
|
1,071.1
|
1,178.7
|
|
1,007.7
|
1,099.8
|
1,079.4
|
1,065.0
|
|
|
|
|
|
|
|
|
|
|
|
|
Funding and liquidity
|
|
|
|
|
|
|
|
|
|
|
Group liquidity pool (£bn)
|
266
|
327
|
298
|
237
|
|
211
|
226
|
238
|
232
|
|
Liquidity coverage ratio
|
162%
|
181%
|
186%
|
155%
|
|
160%
|
151%
|
156%
|
160%
|
|
Loan: deposit ratio
|
71%
|
70%
|
76%
|
79%
|
|
82%
|
82%
|
82%
|
80%
|
|
Refer to pages 65 to 74 for further
information and calculations of performance measures excluding
litigation and conduct.
|
|
2
|
Refer to pages 45 to 51 for further
information on how capital, RWAs and leverage are
calculated.
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
Q420
|
Q320
|
Q220
|
Q120
|
|
Q419
|
Q319
|
Q219
|
Q119
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
1,317
|
1,280
|
1,225
|
1,412
|
|
1,478
|
1,503
|
1,438
|
1,469
|
Net fee, commission and other income
|
309
|
270
|
242
|
292
|
|
481
|
343
|
333
|
308
|
Total income
|
1,626
|
1,550
|
1,467
|
1,704
|
|
1,959
|
1,846
|
1,771
|
1,777
|
Credit impairment charges
|
(170)
|
(233)
|
(583)
|
(481)
|
|
(190)
|
(101)
|
(230)
|
(191)
|
Net operating income
|
1,456
|
1,317
|
884
|
1,223
|
|
1,769
|
1,745
|
1,541
|
1,586
|
Operating costs
|
(1,134)
|
(1,095)
|
(1,018)
|
(1,023)
|
|
(1,023)
|
(952)
|
(1,022)
|
(999)
|
UK bank levy
|
(50)
|
-
|
-
|
-
|
|
(41)
|
-
|
-
|
-
|
Operating expenses
|
(1,184)
|
(1,095)
|
(1,018)
|
(1,023)
|
|
(1,064)
|
(952)
|
(1,022)
|
(999)
|
Litigation and conduct
|
4
|
(25)
|
(6)
|
(5)
|
|
(58)
|
(1,480)
|
(41)
|
(3)
|
Total operating expenses
|
(1,180)
|
(1,120)
|
(1,024)
|
(1,028)
|
|
(1,122)
|
(2,432)
|
(1,063)
|
(1,002)
|
Other net income/(expenses)
|
6
|
(1)
|
13
|
-
|
|
-
|
-
|
(1)
|
1
|
Profit/(loss) before tax
|
282
|
196
|
(127)
|
195
|
|
647
|
(687)
|
477
|
585
|
Attributable profit/(loss)
|
160
|
113
|
(123)
|
175
|
|
438
|
(907)
|
328
|
422
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
205.4
|
203.9
|
202.0
|
195.7
|
|
193.7
|
193.2
|
189.1
|
187.5
|
Total assets
|
289.1
|
294.5
|
287.6
|
267.5
|
|
257.8
|
257.9
|
259.0
|
253.1
|
Customer deposits at amortised cost
|
240.5
|
232.0
|
225.7
|
207.5
|
|
205.5
|
203.3
|
200.9
|
197.3
|
Loan: deposit ratio
|
89%
|
91%
|
92%
|
96%
|
|
96%
|
97%
|
97%
|
96%
|
Risk weighted assets
|
73.7
|
76.2
|
77.9
|
77.7
|
|
74.9
|
76.8
|
76.2
|
76.6
|
Period end allocated tangible equity
|
9.7
|
10.0
|
10.3
|
10.3
|
|
10.3
|
10.4
|
10.3
|
10.5
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
6.5%
|
4.5%
|
(4.8%)
|
6.9%
|
|
17.0%
|
(34.9%)
|
12.7%
|
16.3%
|
Average allocated tangible equity (£bn)
|
9.8
|
10.1
|
10.3
|
10.1
|
|
10.3
|
10.4
|
10.3
|
10.4
|
Cost: income ratio
|
73%
|
72%
|
70%
|
60%
|
|
57%
|
132%
|
60%
|
56%
|
Loan loss rate (bps)
|
31
|
43
|
111
|
96
|
|
38
|
20
|
47
|
40
|
Net interest margin
|
2.56%
|
2.51%
|
2.48%
|
2.91%
|
|
3.03%
|
3.10%
|
3.05%
|
3.18%
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Profit/(loss) before tax
|
278
|
221
|
(121)
|
200
|
|
705
|
793
|
518
|
588
|
Attributable profit/(loss)
|
153
|
130
|
(118)
|
178
|
|
481
|
550
|
358
|
424
|
Return on average allocated tangible equity
|
6.2%
|
5.2%
|
(4.6%)
|
7.0%
|
|
18.7%
|
21.2%
|
13.9%
|
16.4%
|
Cost: income ratio
|
73%
|
71%
|
69%
|
60%
|
|
54%
|
52%
|
58%
|
56%
|
1
|
Refer to pages 65 to 74 for further
information and calculations of performance measures excluding
litigation and conduct.
|
Analysis of Barclays UK
|
Q420
|
Q320
|
Q220
|
Q120
|
|
Q419
|
Q319
|
Q219
|
Q119
|
Analysis of total income
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Personal Banking
|
895
|
833
|
826
|
968
|
|
1,064
|
1,035
|
946
|
964
|
Barclaycard Consumer UK
|
354
|
362
|
367
|
436
|
|
533
|
472
|
497
|
490
|
Business Banking
|
377
|
355
|
274
|
300
|
|
362
|
339
|
328
|
323
|
Total income
|
1,626
|
1,550
|
1,467
|
1,704
|
|
1,959
|
1,846
|
1,771
|
1,777
|
|
|
|
|
|
|
|
|
|
|
Analysis of credit impairment (charges)/releases
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
(68)
|
(48)
|
(130)
|
(134)
|
|
(71)
|
(36)
|
(36)
|
(52)
|
Barclaycard Consumer UK
|
(78)
|
(106)
|
(396)
|
(301)
|
|
(108)
|
(49)
|
(175)
|
(140)
|
Business Banking
|
(24)
|
(79)
|
(57)
|
(46)
|
|
(11)
|
(16)
|
(19)
|
1
|
Total credit impairment charges
|
(170)
|
(233)
|
(583)
|
(481)
|
|
(190)
|
(101)
|
(230)
|
(191)
|
|
|
|
|
|
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Personal Banking
|
157.3
|
155.7
|
154.9
|
153.4
|
|
151.9
|
150.1
|
147.3
|
145.9
|
Barclaycard Consumer UK
|
9.9
|
10.7
|
11.5
|
13.6
|
|
14.7
|
14.9
|
15.1
|
15.0
|
Business Banking
|
38.2
|
37.5
|
35.6
|
28.7
|
|
27.1
|
28.2
|
26.7
|
26.6
|
Total loans and advances to customers at amortised
cost
|
205.4
|
203.9
|
202.0
|
195.7
|
|
193.7
|
193.2
|
189.1
|
187.5
|
|
|
|
|
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
179.7
|
173.2
|
169.6
|
161.4
|
|
159.2
|
157.9
|
156.3
|
154.1
|
Barclaycard Consumer UK
|
0.1
|
0.1
|
0.1
|
-
|
|
-
|
-
|
-
|
-
|
Business Banking
|
60.7
|
58.7
|
56.0
|
46.1
|
|
46.3
|
45.4
|
44.6
|
43.2
|
Total customer deposits at amortised cost
|
240.5
|
232.0
|
225.7
|
207.5
|
|
205.5
|
203.3
|
200.9
|
197.3
|
Barclays International
|
|
|
|
|
|
|
|
|
|
|
Q420
|
Q320
|
Q220
|
Q120
|
|
Q419
|
Q319
|
Q219
|
Q119
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
614
|
823
|
847
|
998
|
|
965
|
1,059
|
1,017
|
900
|
Net trading income
|
1,372
|
1,528
|
1,660
|
2,360
|
|
929
|
1,110
|
1,016
|
1,144
|
Net fee, commission and other income
|
1,500
|
1,430
|
1,503
|
1,286
|
|
1,558
|
1,581
|
1,870
|
1,526
|
Total income
|
3,486
|
3,781
|
4,010
|
4,644
|
|
3,452
|
3,750
|
3,903
|
3,570
|
Credit impairment charges
|
(291)
|
(370)
|
(1,010)
|
(1,609)
|
|
(329)
|
(352)
|
(247)
|
(245)
|
Net operating income
|
3,195
|
3,411
|
3,000
|
3,035
|
|
3,123
|
3,398
|
3,656
|
3,325
|
Operating costs
|
(2,133)
|
(2,227)
|
(2,186)
|
(2,219)
|
|
(2,240)
|
(2,282)
|
(2,435)
|
(2,206)
|
UK bank levy
|
(240)
|
-
|
-
|
-
|
|
(174)
|
-
|
-
|
-
|
Operating expenses
|
(2,373)
|
(2,227)
|
(2,186)
|
(2,219)
|
|
(2,414)
|
(2,282)
|
(2,435)
|
(2,206)
|
Litigation and conduct
|
(9)
|
(28)
|
(11)
|
-
|
|
(86)
|
-
|
(11)
|
(19)
|
Total operating expenses
|
(2,382)
|
(2,255)
|
(2,197)
|
(2,219)
|
|
(2,500)
|
(2,282)
|
(2,446)
|
(2,225)
|
Other net income
|
9
|
9
|
4
|
6
|
|
17
|
21
|
13
|
18
|
Profit before tax
|
822
|
1,165
|
807
|
822
|
|
640
|
1,137
|
1,223
|
1,118
|
Attributable profit
|
441
|
782
|
468
|
529
|
|
397
|
799
|
832
|
788
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
122.7
|
128.0
|
138.1
|
167.0
|
|
132.8
|
138.1
|
134.8
|
130.9
|
Trading portfolio assets
|
127.7
|
122.3
|
109.5
|
101.6
|
|
113.3
|
119.4
|
120.0
|
117.2
|
Derivative financial instrument assets
|
301.8
|
295.9
|
306.8
|
341.5
|
|
228.9
|
286.0
|
243.8
|
217.3
|
Financial assets at fair value through the income
statement
|
170.7
|
178.2
|
154.3
|
188.4
|
|
128.4
|
158.0
|
154.7
|
153.5
|
Cash collateral and settlement balances
|
97.5
|
121.8
|
130.8
|
153.2
|
|
79.4
|
112.5
|
101.3
|
97.8
|
Other assets
|
221.4
|
261.7
|
236.3
|
201.5
|
|
178.6
|
195.6
|
196.8
|
202.3
|
Total assets
|
1,041.8
|
1,107.9
|
1,075.8
|
1,153.2
|
|
861.4
|
1,009.6
|
951.4
|
919.0
|
Deposits at amortised cost
|
240.5
|
262.4
|
241.2
|
263.3
|
|
210.0
|
217.6
|
212.0
|
215.5
|
Derivative financial instrument liabilities
|
300.4
|
293.3
|
307.6
|
338.8
|
|
228.9
|
283.3
|
243.0
|
213.5
|
Loan: deposit ratio
|
51%
|
49%
|
57%
|
63%
|
|
63%
|
63%
|
64%
|
61%
|
Risk weighted assets
|
222.3
|
224.7
|
231.2
|
237.9
|
|
209.2
|
223.1
|
214.8
|
216.1
|
Period end allocated tangible equity
|
30.2
|
30.5
|
31.6
|
33.1
|
|
29.6
|
31.4
|
30.2
|
30.6
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
5.8%
|
10.2%
|
5.6%
|
6.8%
|
|
5.1%
|
9.9%
|
10.7%
|
10.4%
|
Average allocated tangible equity (£bn)
|
30.5
|
30.6
|
33.5
|
31.2
|
|
30.9
|
32.2
|
31.1
|
30.5
|
Cost: income ratio
|
68%
|
60%
|
55%
|
48%
|
|
72%
|
61%
|
63%
|
62%
|
Loan loss rate (bps)
|
90
|
112
|
284
|
377
|
|
96
|
99
|
72
|
73
|
Net interest margin
|
3.41%
|
3.79%
|
3.43%
|
3.93%
|
|
4.29%
|
4.10%
|
3.91%
|
3.99%
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Profit before tax
|
831
|
1,193
|
818
|
822
|
|
726
|
1,137
|
1,234
|
1,137
|
Attributable profit
|
450
|
803
|
476
|
529
|
|
461
|
801
|
840
|
804
|
Return on average allocated tangible equity
|
5.9%
|
10.5%
|
5.7%
|
6.8%
|
|
6.0%
|
10.0%
|
10.8%
|
10.6%
|
Cost: income ratio
|
68%
|
59%
|
55%
|
48%
|
|
70%
|
61%
|
62%
|
62%
|
1
|
Refer to pages 65 to 74 for further
information and calculations of performance measures excluding
litigation and conduct.
|
Analysis of Barclays International
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
Q420
|
Q320
|
Q220
|
Q120
|
|
Q419
|
Q319
|
Q219
|
Q119
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
FICC
|
812
|
1,000
|
1,468
|
1,858
|
|
726
|
816
|
920
|
902
|
Equities
|
542
|
691
|
674
|
564
|
|
409
|
494
|
517
|
467
|
Markets
|
1,354
|
1,691
|
2,142
|
2,422
|
|
1,135
|
1,310
|
1,437
|
1,369
|
Advisory
|
232
|
90
|
84
|
155
|
|
202
|
221
|
221
|
132
|
Equity capital markets
|
104
|
122
|
185
|
62
|
|
56
|
86
|
104
|
83
|
Debt capital markets
|
418
|
398
|
463
|
418
|
|
322
|
381
|
373
|
354
|
Banking fees
|
754
|
610
|
732
|
635
|
|
580
|
688
|
698
|
569
|
Corporate lending
|
186
|
232
|
61
|
111
|
|
202
|
195
|
216
|
152
|
Transaction banking
|
344
|
372
|
381
|
449
|
|
397
|
424
|
444
|
415
|
Corporate
|
530
|
604
|
442
|
560
|
|
599
|
619
|
660
|
567
|
Total income
|
2,638
|
2,905
|
3,316
|
3,617
|
|
2,314
|
2,617
|
2,795
|
2,505
|
Credit impairment charges
|
(52)
|
(187)
|
(596)
|
(724)
|
|
(30)
|
(31)
|
(44)
|
(52)
|
Net operating income
|
2,586
|
2,718
|
2,720
|
2,893
|
|
2,284
|
2,586
|
2,751
|
2,453
|
Operating costs
|
(1,603)
|
(1,716)
|
(1,680)
|
(1,690)
|
|
(1,691)
|
(1,712)
|
(1,860)
|
(1,619)
|
UK bank levy
|
(226)
|
-
|
-
|
-
|
|
(156)
|
-
|
-
|
-
|
Operating expenses
|
(1,829)
|
(1,716)
|
(1,680)
|
(1,690)
|
|
(1,847)
|
(1,712)
|
(1,860)
|
(1,619)
|
Litigation and conduct
|
2
|
(3)
|
(3)
|
-
|
|
(79)
|
(4)
|
(7)
|
(19)
|
Total operating expenses
|
(1,827)
|
(1,719)
|
(1,683)
|
(1,690)
|
|
(1,926)
|
(1,716)
|
(1,867)
|
(1,638)
|
Other net income
|
2
|
1
|
3
|
-
|
|
1
|
12
|
3
|
12
|
Profit before tax
|
761
|
1,000
|
1,040
|
1,203
|
|
359
|
882
|
887
|
827
|
Attributable profit
|
413
|
627
|
694
|
820
|
|
193
|
609
|
596
|
582
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
92.4
|
96.8
|
104.9
|
128.2
|
|
92.0
|
95.8
|
92.1
|
90.6
|
Trading portfolio assets
|
127.5
|
122.2
|
109.3
|
101.5
|
|
113.3
|
119.3
|
119.9
|
117.2
|
Derivative financial instruments assets
|
301.7
|
295.9
|
306.7
|
341.4
|
|
228.8
|
286.0
|
243.7
|
217.3
|
Financial assets at fair value through the income
statement
|
170.4
|
177.9
|
153.7
|
187.8
|
|
127.7
|
157.3
|
154.1
|
152.9
|
Cash collateral and settlement balances
|
96.7
|
121.0
|
129.7
|
152.2
|
|
78.5
|
111.6
|
100.4
|
96.9
|
Other assets
|
194.9
|
228.9
|
205.5
|
171.4
|
|
155.3
|
171.5
|
168.1
|
163.2
|
Total assets
|
983.6
|
1,042.7
|
1,009.8
|
1,082.5
|
|
795.6
|
941.5
|
878.3
|
838.1
|
Deposits at amortised cost
|
175.2
|
195.6
|
173.9
|
198.4
|
|
146.2
|
152.1
|
145.4
|
151.4
|
Derivative financial instrument liabilities
|
300.3
|
293.2
|
307.6
|
338.7
|
|
228.9
|
283.2
|
242.9
|
213.5
|
Risk weighted assets
|
192.2
|
193.3
|
198.3
|
201.7
|
|
171.5
|
184.9
|
175.9
|
176.6
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
6.3%
|
9.5%
|
9.6%
|
12.5%
|
|
3.0%
|
9.1%
|
9.2%
|
9.3%
|
Average allocated tangible equity (£bn)
|
26.3
|
26.4
|
29.0
|
26.2
|
|
25.8
|
26.9
|
25.8
|
25.1
|
Cost: income ratio
|
69%
|
59%
|
51%
|
47%
|
|
83%
|
66%
|
67%
|
65%
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Profit before tax
|
759
|
1,003
|
1,043
|
1,203
|
|
438
|
886
|
894
|
846
|
Attributable profit
|
411
|
629
|
696
|
820
|
|
251
|
614
|
601
|
598
|
Return on average allocated tangible equity
|
6.2%
|
9.5%
|
9.6%
|
12.5%
|
|
3.9%
|
9.2%
|
9.3%
|
9.5%
|
Cost: income ratio
|
69%
|
59%
|
51%
|
47%
|
|
80%
|
65%
|
67%
|
65%
|
1
|
Refer to pages 65 to 74 for further
information and calculations of performance measures excluding
litigation and conduct.
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer, Cards and Payments
|
Q420
|
Q320
|
Q220
|
Q120
|
|
Q419
|
Q319
|
Q219
|
Q119
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
504
|
518
|
513
|
663
|
|
717
|
720
|
720
|
665
|
Net fee, commission, trading and other income
|
344
|
358
|
181
|
364
|
|
421
|
413
|
388
|
400
|
Total income
|
848
|
876
|
694
|
1,027
|
|
1,138
|
1,133
|
1,108
|
1,065
|
Credit impairment charges
|
(239)
|
(183)
|
(414)
|
(885)
|
|
(299)
|
(321)
|
(203)
|
(193)
|
Net operating income
|
609
|
693
|
280
|
142
|
|
839
|
812
|
905
|
872
|
Operating costs
|
(530)
|
(511)
|
(506)
|
(529)
|
|
(549)
|
(570)
|
(575)
|
(587)
|
UK bank levy
|
(14)
|
-
|
-
|
-
|
|
(18)
|
-
|
-
|
-
|
Operating expenses
|
(544)
|
(511)
|
(506)
|
(529)
|
|
(567)
|
(570)
|
(575)
|
(587)
|
Litigation and conduct
|
(11)
|
(25)
|
(8)
|
-
|
|
(7)
|
4
|
(4)
|
-
|
Total operating expenses
|
(555)
|
(536)
|
(514)
|
(529)
|
|
(574)
|
(566)
|
(579)
|
(587)
|
Other net income
|
7
|
8
|
1
|
6
|
|
16
|
9
|
10
|
6
|
Profit/(loss) before tax
|
61
|
165
|
(233)
|
(381)
|
|
281
|
255
|
336
|
291
|
Attributable profit/(loss)
|
28
|
155
|
(226)
|
(291)
|
|
204
|
190
|
236
|
206
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
30.3
|
31.2
|
33.2
|
38.8
|
|
40.8
|
42.3
|
42.7
|
40.3
|
Total assets
|
58.2
|
65.2
|
66.0
|
70.7
|
|
65.8
|
68.1
|
73.1
|
80.9
|
Deposits at amortised cost
|
65.3
|
66.8
|
67.3
|
64.9
|
|
63.8
|
65.5
|
66.6
|
64.1
|
Risk weighted assets
|
30.1
|
31.4
|
32.9
|
36.2
|
|
37.7
|
38.2
|
38.9
|
39.5
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
2.7%
|
14.7%
|
(20.2%)
|
(23.5%)
|
|
15.9%
|
14.2%
|
17.8%
|
15.4%
|
Average allocated tangible equity (£bn)
|
4.2
|
4.2
|
4.5
|
5.0
|
|
5.1
|
5.3
|
5.3
|
5.4
|
Cost: income ratio
|
65%
|
61%
|
74%
|
52%
|
|
50%
|
50%
|
52%
|
55%
|
Loan loss rate (bps)
|
286
|
211
|
455
|
846
|
|
273
|
283
|
180
|
182
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Profit/(loss) before tax
|
72
|
190
|
(225)
|
(381)
|
|
288
|
251
|
340
|
291
|
Attributable profit/(loss)
|
39
|
174
|
(220)
|
(291)
|
|
210
|
187
|
239
|
206
|
Return on average allocated tangible equity
|
3.8%
|
16.5%
|
(19.6%)
|
(23.5%)
|
|
16.3%
|
14.0%
|
18.0%
|
15.4%
|
Cost: income ratio
|
64%
|
58%
|
73%
|
52%
|
|
50%
|
50%
|
52%
|
55%
|
1
|
Refer to pages 65 to 74 for further
information and calculations of performance measures excluding
litigation and conduct.
|
Head Office
|
|
|
|
|
|
|
|
|
|
|
Q420
|
Q320
|
Q220
|
Q120
|
|
Q419
|
Q319
|
Q219
|
Q119
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
(86)
|
(48)
|
(180)
|
(79)
|
|
(99)
|
(117)
|
(95)
|
(111)
|
Net fee, commission and other income
|
(85)
|
(79)
|
41
|
14
|
|
(11)
|
62
|
(41)
|
16
|
Total income
|
(171)
|
(127)
|
(139)
|
(65)
|
|
(110)
|
(55)
|
(136)
|
(95)
|
Credit impairment charges
|
(31)
|
(5)
|
(30)
|
(25)
|
|
(4)
|
(8)
|
(3)
|
(12)
|
Net operating expenses
|
(202)
|
(132)
|
(169)
|
(90)
|
|
(114)
|
(63)
|
(139)
|
(107)
|
Operating costs
|
(213)
|
(69)
|
(106)
|
(11)
|
|
(45)
|
(59)
|
(44)
|
(52)
|
UK bank levy
|
(9)
|
-
|
-
|
-
|
|
(11)
|
-
|
-
|
-
|
Operating expenses
|
(222)
|
(69)
|
(106)
|
(11)
|
|
(56)
|
(59)
|
(44)
|
(52)
|
Litigation and conduct
|
(42)
|
(23)
|
(3)
|
(5)
|
|
(23)
|
(88)
|
(1)
|
(39)
|
Total operating expenses
|
(264)
|
(92)
|
(109)
|
(16)
|
|
(79)
|
(147)
|
(45)
|
(91)
|
Other net income/(expenses)
|
8
|
10
|
(43)
|
2
|
|
3
|
6
|
15
|
(22)
|
Loss before tax
|
(458)
|
(214)
|
(321)
|
(104)
|
|
(190)
|
(204)
|
(169)
|
(220)
|
Attributable loss
|
(381)
|
(284)
|
(255)
|
(99)
|
|
(154)
|
(184)
|
(126)
|
(172)
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Total assets
|
18.6
|
19.3
|
21.7
|
23.6
|
|
21.0
|
22.9
|
22.4
|
21.4
|
Risk weighted assets
|
10.2
|
9.8
|
9.9
|
10.0
|
|
11.0
|
13.4
|
28.1
|
27.0
|
Period end allocated tangible equity
|
6.8
|
7.1
|
7.4
|
6.0
|
|
5.6
|
5.5
|
7.0
|
4.5
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
7.3
|
7.6
|
6.4
|
5.6
|
|
5.2
|
5.8
|
4.8
|
4.3
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Loss before tax
|
(416)
|
(191)
|
(318)
|
(99)
|
|
(167)
|
(116)
|
(168)
|
(181)
|
Attributable loss
|
(343)
|
(265)
|
(252)
|
(103)
|
|
(139)
|
(118)
|
(124)
|
(144)
|
1
|
Refer to pages 65 to 74 for further
information and calculations of performance measures excluding
litigation and conduct.
|
Margins and balances
|
|
|
|
|
|
|
|
Year ended 31.12.20
|
Year ended 31.12.19
|
||||
|
Net interest income
|
Average customer assets
|
Net interest margin
|
Net interest income
|
Average customer assets
|
Net interest margin
|
|
£m
|
£m
|
%
|
£m
|
£m
|
%
|
Barclays UK
|
5,234
|
200,317
|
2.61
|
5,888
|
190,849
|
3.09
|
Barclays International1,2
|
3,382
|
92,909
|
3.64
|
4,021
|
98,824
|
4.07
|
Total Barclays UK and Barclays International
|
8,616
|
293,226
|
2.94
|
9,909
|
289,673
|
3.42
|
Other3
|
(494)
|
|
|
(502)
|
|
|
Total Barclays Group
|
8,122
|
|
|
9,407
|
|
|
1
|
Barclays International margins include
IEL balances within the investment banking
business.
|
2
|
Barclays has
amended the presentation of the premium paid for purchased
financial guarantees which are embedded in notes it issues directly
to the market. From Q420 onwards, the full note coupon is presented
as interest expense within net interest income. The financial
guarantee element of the coupon, for these notes, had previously
been
recognised in
net investment income. The reclassification of £99m in Q4
included £74m related to Q320 YTD. This has caused a reduction
in the 2020 Barclays International and Total Barclays UK and
Barclays International NIMs of 0.11% and 0.03% respectively. Had
the equivalent 2019 interest expense been recognised in net
interest income,
the Barclays
International and
Total Barclays UK and Barclays
International NIMs would have been 4.04% and 3.41%
respectively.
|
3
|
Other includes Head Office and
non-lending related investment banking businesses not included in
Barclays International margins.
|
Quarterly analysis for Barclays UK and Barclays
International
|
Net interest income
|
Average customer assets
|
Net interest margin
|
Three months ended 31.12.20
|
£m
|
£m
|
%
|
Barclays UK
|
1,317
|
204,315
|
2.56
|
Barclays International1,2
|
696
|
81,312
|
3.41
|
Total Barclays UK and Barclays International
|
2,013
|
285,627
|
2.80
|
|
|
|
|
Three months ended 30.09.20
|
|
|
|
Barclays UK
|
1,280
|
203,089
|
2.51
|
Barclays International1
|
838
|
88,032
|
3.79
|
Total Barclays UK and Barclays International
|
2,118
|
291,121
|
2.89
|
|
|
|
|
Three months ended 30.06.20
|
|
|
|
Barclays UK
|
1,225
|
199,039
|
2.48
|
Barclays International1
|
868
|
101,706
|
3.43
|
Total Barclays UK and Barclays International
|
2,093
|
300,745
|
2.80
|
|
|
|
|
Three months ended 31.03.20
|
|
|
|
Barclays UK
|
1,412
|
195,204
|
2.91
|
Barclays International1
|
980
|
100,171
|
3.93
|
Total Barclays UK and Barclays International
|
2,392
|
295,375
|
3.26
|
|
|
|
|
Three months ended 31.12.19
|
|
|
|
Barclays UK
|
1,478
|
193,610
|
3.03
|
Barclays International1
|
1,036
|
95,819
|
4.29
|
Total Barclays UK and Barclays International
|
2,514
|
289,429
|
3.45
|
1
|
Barclays International margins include
interest earning lending balances within the investment banking
business.
|
2
|
The
aforementioned reclassification of expense from net investment
income to net interest income has resulted in 0.48% reduction on
the Q420 Barclays International NIM and 0.14% reduction on the Q420
Total Barclays UK and Barclays
International
NIM.
|
|
Year ended
|
Year ended
|
|
|
31.12.20
|
31.12.19
|
|
|
£m
|
£m
|
% Change
|
Incentive awards granted:
|
|
|
|
Current year bonus
|
1,090
|
1,058
|
(3)
|
Deferred bonus
|
490
|
432
|
(13)
|
Total incentive awards granted
|
1,580
|
1,490
|
(6)
|
|
|
|
|
Reconciliation of incentive awards granted to income statement
charge:
|
|
|
|
Less: deferred bonuses granted but not charged in current
year
|
(335)
|
(293)
|
(14)
|
Add: current year charges for deferred bonuses from previous
years
|
293
|
308
|
5
|
Other differences between incentive awards granted and income
statement charge
|
(34)
|
(48)
|
29
|
Income statement charge for performance costs
|
1,504
|
1,457
|
(3)
|
|
|
|
|
Other income statement charges:
|
|
|
|
Salaries
|
4,322
|
4,332
|
-
|
Social security costs
|
613
|
573
|
(7)
|
Post-retirement benefits1
|
519
|
501
|
(4)
|
Other compensation costs
|
479
|
480
|
-
|
Total compensation
costs2
|
7,437
|
7,343
|
(1)
|
|
|
|
|
Other resourcing costs:
|
|
|
|
Outsourcing
|
342
|
433
|
21
|
Redundancy and restructuring
|
102
|
132
|
23
|
Temporary staff costs
|
102
|
256
|
60
|
Other
|
114
|
151
|
25
|
Total other resourcing costs
|
660
|
972
|
32
|
|
|
|
|
Total staff costs
|
8,097
|
8,315
|
3
|
|
|
|
|
Group compensation costs as a % of total income
|
34.2
|
33.9
|
|
Group staff costs as a % of total income
|
37.2
|
38.4
|
|
1
|
Post-retirement benefits charge
includes £279m (2019: £270m) in respect of defined
contribution schemes and £240m (2019: £231m) in respect
of defined benefit schemes.
|
2
|
£451m (2019: £439m) of Group
compensation was
capitalised as internally generated
software.
|
Year in which income statement charge
is expected to be taken for deferred bonuses awarded to
date1
|
|||||
|
Actual
|
|
Expected1,2
|
||
|
Year ended
|
Year ended
|
|
Year ended
|
2022 and
|
|
31.12.19
|
31.12.20
|
|
31.12.21
|
beyond
|
|
£m
|
£m
|
|
£m
|
£m
|
Deferred bonuses from 2017 and earlier bonus pools
|
141
|
49
|
|
6
|
1
|
Deferred bonuses from 2018 bonus pool
|
169
|
109
|
|
48
|
9
|
Deferred bonuses from 2019 bonus pool
|
137
|
135
|
|
82
|
51
|
Deferred bonuses from 2020 bonus pool
|
-
|
155
|
|
148
|
136
|
Income statement charge for deferred bonuses
|
447
|
448
|
|
284
|
197
|
1
|
The actual amount charged depends upon
whether conditions have been met and may vary compared with the
above expectation.
|
2
|
Does not include the impact of grants which
will be made in 2021 and
beyond.
|
Charging of deferred bonus
profile1
|
|||
Grant date
|
Expected payment
date(s)2
|
Year
|
Income statement charge profile of
2020 awards3,4
|
March 2021
|
|
2020
|
35%
|
|
|
2021
|
34%
|
|
March 2022 (33.3%)
|
2022
|
21%
|
|
March 2023 (33.3%)
|
2023
|
9%
|
|
March 2024 (33.3%)
|
2024
|
1%
|
1
|
Represents a typical vesting schedule
for deferred awards. Certain awards may be subject to 5- or 7-year
deferral in line with regulatory requirements.
|
2
|
Share awards may be subject to an
additional holding period.
|
3
|
The income statement charge is based
on the period over which conditions are met.
|
4
|
Income statement charge profile %
disclosed as a percentage of the award excluding
lapse.
|
|
Gross exposure
|
|
Impairment allowance
|
Net exposure
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
As at 31.12.20
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
153,250
|
23,896
|
2,732
|
179,878
|
|
332
|
1,509
|
1,147
|
2,988
|
176,890
|
Barclays International1
|
21,048
|
5,500
|
1,992
|
28,540
|
|
396
|
1,329
|
1,205
|
2,930
|
25,610
|
Head Office
|
4,267
|
720
|
844
|
5,831
|
|
4
|
51
|
380
|
435
|
5,396
|
Total Barclays Group retail
|
178,565
|
30,116
|
5,568
|
214,249
|
|
732
|
2,889
|
2,732
|
6,353
|
207,896
|
Barclays UK
|
31,918
|
4,325
|
1,126
|
37,369
|
|
13
|
129
|
116
|
258
|
37,111
|
Barclays International1
|
79,911
|
16,565
|
2,270
|
98,746
|
|
288
|
546
|
859
|
1,693
|
97,053
|
Head Office
|
570
|
-
|
33
|
603
|
|
-
|
-
|
31
|
31
|
572
|
Total Barclays Group
wholesale2
|
112,399
|
20,890
|
3,429
|
136,718
|
|
301
|
675
|
1,006
|
1,982
|
134,736
|
Total loans and advances at amortised cost
|
290,964
|
51,006
|
8,997
|
350,967
|
|
1,033
|
3,564
|
3,738
|
8,335
|
342,632
|
Off-balance sheet loan commitments and financial guarantee
contracts3
|
289,939
|
52,891
|
2,330
|
345,160
|
|
256
|
758
|
50
|
1,064
|
344,096
|
Total4
|
580,903
|
103,897
|
11,327
|
696,127
|
|
1,289
|
4,322
|
3,788
|
9,399
|
686,728
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 31.12.20
|
|
Year ended 31.12.20
|
|
||||||
|
Coverage ratio
|
|
Loan impairment charge and loan loss
rate4
|
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Loan impairment charge
|
Loan loss rate
|
|
||
|
%
|
%
|
%
|
%
|
|
£m
|
bps
|
|
||
Barclays UK
|
0.2
|
6.3
|
42.0
|
1.7
|
|
|
1,070
|
|
59
|
|
Barclays International1
|
1.9
|
24.2
|
60.5
|
10.3
|
|
|
1,680
|
|
589
|
|
Head Office
|
0.1
|
7.1
|
45.0
|
7.5
|
|
|
91
|
|
156
|
|
Total Barclays Group retail
|
0.4
|
9.6
|
49.1
|
3.0
|
|
|
2,841
|
|
133
|
|
Barclays UK
|
-
|
3.0
|
10.3
|
0.7
|
|
|
154
|
|
41
|
|
Barclays International1
|
0.4
|
3.3
|
37.8
|
1.7
|
|
|
914
|
|
93
|
|
Head Office
|
-
|
-
|
93.9
|
5.1
|
|
|
-
|
|
-
|
|
Total Barclays Group
wholesale2
|
0.3
|
3.2
|
29.3
|
1.4
|
|
|
1,068
|
|
78
|
|
Total loans and advances at amortised cost
|
0.4
|
7.0
|
41.5
|
2.4
|
|
|
3,909
|
|
111
|
|
Off-balance sheet loan commitments and financial guarantee
contracts3
|
0.1
|
1.4
|
2.1
|
0.3
|
|
|
776
|
|
|
|
Other financial assets subject to impairment4
|
|
|
|
|
|
|
153
|
|
|
|
Total5
|
0.2
|
4.2
|
33.4
|
1.4
|
|
|
4,838
|
|
|
|
1
|
Private Banking have refined the methodology
to classify £5bn of their exposure between Wholesale and Retail
during the year.
|
2
|
Includes Wealth and Private Banking
exposures measured on an individual customer exposure basis, and
excludes Business Banking exposures that are managed on a
collective basis. The net impact is a difference in total exposure
of £7,551m of balances reported as wholesale loans on page 29
in the Loans and advances at amortised cost by product
disclosure.
|
3
|
Excludes loan commitments and
financial guarantees of £9.5bn carried at fair
value.
|
4
|
Other financial assets subject to
impairment not included in the table above include cash collateral
and settlement balances, financial assets at fair value through
other comprehensive income and other assets. These have a total
gross exposure of £180.3bn and impairment allowance of
£165m. This comprises £11m ECL on £175.7bn stage 1
assets, £9m on £4.4bn stage 2 fair value through other
comprehensive income assets, other assets, cash collateral and
settlement balances and £145m on £154m stage 3 other
assets.
|
5
|
The loan loss rate is 138bps after
applying the total impairment charge of
£4,838m.
|
|
Gross exposure
|
|
Impairment allowance
|
Net exposure
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
As at 31.12.19
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
143,097
|
23,198
|
2,446
|
168,741
|
|
198
|
1,277
|
974
|
2,449
|
166,292
|
Barclays International
|
27,886
|
4,026
|
1,875
|
33,787
|
|
352
|
774
|
1,359
|
2,485
|
31,302
|
Head Office
|
4,803
|
500
|
826
|
6,129
|
|
5
|
36
|
305
|
346
|
5,783
|
Total Barclays Group retail
|
175,786
|
27,724
|
5,147
|
208,657
|
|
555
|
2,087
|
2,638
|
5,280
|
203,377
|
Barclays UK
|
27,891
|
2,397
|
1,124
|
31,412
|
|
16
|
38
|
108
|
162
|
31,250
|
Barclays International
|
92,615
|
8,113
|
1,615
|
102,343
|
|
136
|
248
|
447
|
831
|
101,512
|
Head Office
|
2,974
|
-
|
37
|
3,011
|
|
-
|
-
|
35
|
35
|
2,976
|
Total Barclays Group
wholesale1
|
123,480
|
10,510
|
2,776
|
136,766
|
|
152
|
286
|
590
|
1,028
|
135,738
|
Total loans and advances at amortised cost
|
299,266
|
38,234
|
7,923
|
345,423
|
|
707
|
2,373
|
3,228
|
6,308
|
339,115
|
Off-balance sheet loan commitments and financial guarantee
contracts2
|
321,140
|
19,185
|
935
|
341,260
|
|
97
|
170
|
55
|
322
|
340,938
|
Total3
|
620,406
|
57,419
|
8,858
|
686,683
|
|
804
|
2,543
|
3,283
|
6,630
|
680,053
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 31.12.19
|
|
Year ended 31.12.19
|
|
||||||
|
Coverage ratio
|
|
Loan impairment charge and loan loss
rate4
|
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Loan impairment charge
|
Loan loss rate
|
|
||
|
%
|
%
|
%
|
%
|
|
£m
|
|
bps
|
|
|
Barclays UK
|
0.1
|
5.5
|
39.8
|
1.5
|
|
|
661
|
|
39
|
|
Barclays International
|
1.3
|
19.2
|
72.5
|
7.4
|
|
|
999
|
|
296
|
|
Head Office
|
0.1
|
7.2
|
36.9
|
5.6
|
|
|
27
|
|
44
|
|
Total Barclays Group retail
|
0.3
|
7.5
|
51.3
|
2.5
|
|
|
1,687
|
|
81
|
|
Barclays UK
|
0.1
|
1.6
|
9.6
|
0.5
|
|
|
33
|
|
11
|
|
Barclays International
|
0.1
|
3.1
|
27.7
|
0.8
|
|
|
113
|
|
11
|
|
Head Office
|
-
|
-
|
94.6
|
1.2
|
|
|
-
|
|
-
|
|
Total Barclays Group
wholesale1
|
0.1
|
2.7
|
21.3
|
0.8
|
|
|
146
|
|
11
|
|
Total loans and advances at amortised cost
|
0.2
|
6.2
|
40.7
|
1.8
|
|
|
1,833
|
|
53
|
|
Off-balance sheet loan commitments and financial guarantee
contracts2
|
-
|
0.9
|
5.9
|
0.1
|
|
|
71
|
|
|
|
Other financial assets subject to impairment3
|
|
|
|
|
|
|
8
|
|
|
|
Total4
|
0.1
|
4.4
|
37.1
|
1.0
|
|
|
1,912
|
|
|
|
1
|
Includes Wealth
and Private Banking exposures measured on an individual customer
exposure basis, and excludes Business Banking exposures that are
managed on a collective basis. The net impact is a difference in
total exposure of £6,434m of balances reported as wholesale
loans on page 29 in the Loans and advances at amortised cost by
product disclosure.
|
2
|
Excludes loan
commitments and financial guarantees of £17.7bn carried at
fair value.
|
3
|
Other financial
assets subject to impairment not included in the table above
include cash collateral and settlement balances, financial assets
at fair value through other comprehensive income and other assets.
These have a total gross exposure of £149.3bn and impairment
allowance of £24m. This comprises £12m ECL on
£148.5bn stage 1 assets, £2m on £0.8bn stage 2 fair
value through other comprehensive income assets, cash collateral
and settlement balances and £10m on £10m stage 3 other
assets.
|
4
|
The loan loss
rate is 55bps after applying the total impairment charge of
£1,912m.
|
|
|
Stage 2
|
|
|
|||
As at 31.12.20
|
Stage 1
|
Not past due
|
<=30 days past due
|
>30 days past due
|
Total
|
Stage 3
|
Total
|
Gross exposure
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Home loans
|
138,639
|
16,651
|
1,785
|
876
|
19,312
|
2,234
|
160,185
|
Credit cards, unsecured loans and other retail lending
|
33,021
|
9,470
|
544
|
306
|
10,320
|
3,172
|
46,513
|
Wholesale loans
|
119,304
|
19,501
|
1,097
|
776
|
21,374
|
3,591
|
144,269
|
Total
|
290,964
|
45,622
|
3,426
|
1,958
|
51,006
|
8,997
|
350,967
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Home loans
|
33
|
57
|
13
|
14
|
84
|
421
|
538
|
Credit cards, unsecured loans and other retail lending
|
680
|
2,382
|
180
|
207
|
2,769
|
2,251
|
5,700
|
Wholesale loans
|
320
|
650
|
50
|
11
|
711
|
1,066
|
2,097
|
Total
|
1,033
|
3,089
|
243
|
232
|
3,564
|
3,738
|
8,335
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Home loans
|
138,606
|
16,594
|
1,772
|
862
|
19,228
|
1,813
|
159,647
|
Credit cards, unsecured loans and other retail lending
|
32,341
|
7,088
|
364
|
99
|
7,551
|
921
|
40,813
|
Wholesale loans
|
118,984
|
18,851
|
1,047
|
765
|
20,663
|
2,525
|
142,172
|
Total
|
289,931
|
42,533
|
3,183
|
1,726
|
47,442
|
5,259
|
342,632
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Home loans
|
-
|
0.3
|
0.7
|
1.6
|
0.4
|
18.8
|
0.3
|
Credit cards, unsecured loans and other retail lending
|
2.1
|
25.2
|
33.1
|
67.6
|
26.8
|
71.0
|
12.3
|
Wholesale loans
|
0.3
|
3.3
|
4.6
|
1.4
|
3.3
|
29.7
|
1.5
|
Total
|
0.4
|
6.8
|
7.1
|
11.8
|
7.0
|
41.5
|
2.4
|
|
|
|
|
|
|
|
|
As at 31.12.19
|
|
|
|
|
|
|
|
Gross exposure
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Home loans
|
135,713
|
14,733
|
1,585
|
725
|
17,043
|
2,155
|
154,911
|
Credit cards, unsecured loans and other retail lending
|
46,012
|
9,759
|
496
|
504
|
10,759
|
3,409
|
60,180
|
Wholesale loans
|
117,541
|
9,374
|
374
|
684
|
10,432
|
2,359
|
130,332
|
Total
|
299,266
|
33,866
|
2,455
|
1,913
|
38,234
|
7,923
|
345,423
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Home loans
|
22
|
37
|
14
|
13
|
64
|
346
|
432
|
Credit cards, unsecured loans and other retail lending
|
542
|
1,597
|
159
|
251
|
2,007
|
2,335
|
4,884
|
Wholesale loans
|
143
|
284
|
9
|
9
|
302
|
547
|
992
|
Total
|
707
|
1,918
|
182
|
273
|
2,373
|
3,228
|
6,308
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Home loans
|
135,691
|
14,696
|
1,571
|
712
|
16,979
|
1,809
|
154,479
|
Credit cards, unsecured loans and other retail lending
|
45,470
|
8,162
|
337
|
253
|
8,752
|
1,074
|
55,296
|
Wholesale loans
|
117,398
|
9,090
|
365
|
675
|
10,130
|
1,812
|
129,340
|
Total
|
298,559
|
31,948
|
2,273
|
1,640
|
35,861
|
4,695
|
339,115
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Home loans
|
-
|
0.3
|
0.9
|
1.8
|
0.4
|
16.1
|
0.3
|
Credit cards, unsecured loans and other retail lending
|
1.2
|
16.4
|
32.1
|
49.8
|
18.7
|
68.5
|
8.1
|
Wholesale loans
|
0.1
|
3.0
|
2.4
|
1.3
|
2.9
|
23.2
|
0.8
|
Total
|
0.2
|
5.7
|
7.4
|
14.3
|
6.2
|
40.7
|
1.8
|
|
Gross exposure
|
|
Impairment allowance
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
As at 31.12.20
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Air travel
|
367
|
525
|
56
|
948
|
|
9
|
27
|
23
|
59
|
Hospitality and leisure
|
4,440
|
2,387
|
313
|
7,140
|
|
53
|
115
|
61
|
229
|
Oil and gas
|
1,754
|
854
|
465
|
3,073
|
|
31
|
27
|
140
|
198
|
Retail
|
3,907
|
1,153
|
283
|
5,343
|
|
78
|
51
|
108
|
237
|
Shipping
|
308
|
389
|
12
|
709
|
|
2
|
30
|
1
|
33
|
Transportation
|
1,148
|
253
|
125
|
1,526
|
|
19
|
10
|
57
|
86
|
Total
|
11,924
|
5,561
|
1,254
|
18,739
|
|
192
|
260
|
390
|
842
|
Total of Wholesale exposures
|
10%
|
26%
|
35%
|
13%
|
|
60%
|
37%
|
37%
|
40%
|
|
|
|
|
|
|
|
|
|
|
|
Gross exposure
|
|
Impairment allowance
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
As at 31.12.19
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Air travel
|
194
|
31
|
26
|
251
|
|
-
|
-
|
24
|
24
|
Hospitality and leisure
|
4,321
|
851
|
199
|
5,371
|
|
8
|
18
|
29
|
55
|
Oil and gas
|
2,539
|
612
|
136
|
3,287
|
|
8
|
24
|
47
|
79
|
Retail
|
3,395
|
777
|
207
|
4,379
|
|
11
|
24
|
85
|
120
|
Shipping
|
357
|
52
|
7
|
416
|
|
1
|
-
|
3
|
4
|
Transportation
|
873
|
82
|
89
|
1,044
|
|
5
|
5
|
54
|
64
|
Total
|
11,679
|
2,405
|
664
|
14,748
|
|
33
|
71
|
242
|
346
|
Total of Wholesale exposures
|
10%
|
23%
|
28%
|
11%
|
|
23%
|
24%
|
44%
|
35%
|
Loans and advances at amortised cost
|
||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
||||
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Home loans
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2020
|
135,713
|
22
|
17,043
|
64
|
2,155
|
346
|
154,911
|
432
|
Transfers from Stage 1 to Stage 2
|
(8,724)
|
(1)
|
8,724
|
1
|
-
|
-
|
-
|
-
|
Transfers from Stage 2 to Stage 1
|
4,618
|
14
|
(4,618)
|
(14)
|
-
|
-
|
-
|
-
|
Transfers to Stage 3
|
(308)
|
-
|
(420)
|
(10)
|
728
|
10
|
-
|
-
|
Transfers from Stage 3
|
47
|
1
|
219
|
2
|
(266)
|
(3)
|
-
|
-
|
Business activity in the year
|
22,548
|
7
|
714
|
2
|
4
|
-
|
23,266
|
9
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(6,195)
|
(9)
|
(841)
|
42
|
(57)
|
105
|
(7,093)
|
138
|
Final repayments
|
(9,060)
|
(1)
|
(1,509)
|
(3)
|
(308)
|
(15)
|
(10,877)
|
(19)
|
Disposals3
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Write-offs4
|
-
|
-
|
-
|
-
|
(22)
|
(22)
|
(22)
|
(22)
|
As at 31 December
20205
|
138,639
|
33
|
19,312
|
84
|
2,234
|
421
|
160,185
|
538
|
|
|
|
|
|
|
|
|
|
Credit cards, unsecured loans and other retail lending
|
||||||||
As at 1 January 2020
|
46,012
|
542
|
10,759
|
2,007
|
3,409
|
2,335
|
60,180
|
4,884
|
Transfers from Stage 1 to Stage 2
|
(6,571)
|
(134)
|
6,571
|
134
|
-
|
-
|
-
|
-
|
Transfers from Stage 2 to Stage 1
|
3,080
|
482
|
(3,080)
|
(482)
|
-
|
-
|
-
|
-
|
Transfers to Stage 3
|
(712)
|
(25)
|
(1,162)
|
(398)
|
1,874
|
423
|
-
|
-
|
Transfers from Stage 3
|
76
|
39
|
67
|
12
|
(143)
|
(51)
|
-
|
-
|
Business activity in the year
|
5,598
|
67
|
324
|
83
|
59
|
28
|
5,981
|
178
|
Changes to models used for calculation1
|
-
|
13
|
-
|
296
|
-
|
-
|
-
|
309
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes2
|
(9,678)
|
(229)
|
(2,706)
|
1,174
|
(10)
|
1,353
|
(12,394)
|
2,298
|
Final repayments
|
(3,291)
|
(67)
|
(270)
|
(37)
|
(204)
|
(84)
|
(3,765)
|
(188)
|
Disposals3
|
(1,493)
|
(8)
|
(183)
|
(20)
|
(204)
|
(144)
|
(1,880)
|
(172)
|
Write-offs4
|
-
|
-
|
-
|
-
|
(1,609)
|
(1,609)
|
(1,609)
|
(1,609)
|
As at 31 December
20205
|
33,021
|
680
|
10,320
|
2,769
|
3,172
|
2,251
|
46,513
|
5,700
|
1
|
Changes to models used for calculation include a £309m
adjustment which largely represents model remediation to correct
for over recovery of debt in UK unsecured lending. Barclays
continually review the output of models to determine accuracy of
the ECL calculation including review of model monitoring, external
benchmarking and experience of model operation over an extended
period of time. This ensures that the models used continue to
reflect the risks inherent across the
businesses.
|
2
|
Transfers and risk parameter changes has seen an ECL increase which
is materially driven by stage migration in response to the
macroeconomic scenario updates, partially offset by a net release
in ECL of £0.6bn due to a reclassification of £2bn gross
loans and advances from Stage 2 to Stage 1 in credit cards and
unsecured loans. The reclassification followed a review of
back-testing of results which indicated that origination
probability of default characteristics were unnecessarily moving
stage 1 accounts into stage 2.
|
3
|
The £1.9bn disposals reported within Credit cards, unsecured
loans and other retail lending portfolio include £1.7bn sale
of motor financing business within the Barclays Partner Finance
business and £0.2bn relate to debt sales undertaken during the
year. The £2.4bn disposal reported within Wholesale loans
include sale of debt securities as part of Group Treasury
Operations.
|
4
|
In 2020, gross write-offs amounted to £1,964m (2019:
£1,883m) and post write-off recoveries amounted to £35m
(2019: £124m). Net write-offs represent gross write-offs less
post write-off recoveries and amounted to £1,929m (2019:
£1,759m).
|
5
|
Other financial assets subject to impairment excluded from the
tables above include cash collateral and settlement balances,
financial assets at fair value through other comprehensive income
and other assets. These have a total gross exposure of
£180.3bn (December 2019: £149.3bn) and impairment
allowance of £175.7m (December 2019: £24m). This
comprises £11m ECL (December 2019: £12m) on £175.7bn
Stage 1 assets (December 2019: £148.5m), £9m (December
2019: £2m) on £4.4bn Stage 2 fair value through other
comprehensive income assets, cash collateral and settlement assets
(December 2019: £0.8bn) and £145m (December 2019:
£10m) on £154m Stage 3 other assets (December 2019:
£10m).
|
Loans and advances at amortised cost
|
||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
||||
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Wholesale loans
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2020
|
117,541
|
143
|
10,432
|
302
|
2,359
|
547
|
130,332
|
992
|
Transfers from Stage 1 to Stage 2
|
(12,531)
|
(35)
|
12,531
|
35
|
-
|
-
|
-
|
-
|
Transfers from Stage 2 to Stage 1
|
4,121
|
40
|
(4,121)
|
(40)
|
-
|
-
|
-
|
-
|
Transfers to Stage 3
|
(1,137)
|
(4)
|
(875)
|
(58)
|
2,012
|
62
|
-
|
-
|
Transfers from Stage 3
|
471
|
22
|
247
|
13
|
(718)
|
(35)
|
-
|
-
|
Business activity in the year
|
27,863
|
46
|
2,336
|
149
|
634
|
85
|
30,833
|
280
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
13,828
|
130
|
3,811
|
339
|
(64)
|
799
|
17,575
|
1,268
|
Final repayments
|
(28,458)
|
(22)
|
(2,977)
|
(29)
|
(299)
|
(59)
|
(31,734)
|
(110)
|
Disposals1
|
(2,394)
|
-
|
(10)
|
-
|
-
|
-
|
(2,404)
|
-
|
Write-offs2
|
-
|
-
|
-
|
-
|
(333)
|
(333)
|
(333)
|
(333)
|
As at 31 December
20203
|
119,304
|
320
|
21,374
|
711
|
3,591
|
1,066
|
144,269
|
2,097
|
|
|
|
|
|
|
|
|
|
Reconciliation of ECL movement to impairment charge/(release) for
the period
|
£m
|
|||||||
Home loans
|
|
|
|
|
|
|
|
128
|
Credit cards, unsecured loans and other retail lending
|
|
2,597
|
||||||
Wholesale loans
|
|
1,438
|
||||||
ECL movement excluding assets derecognised due to disposals and
write-offs
|
|
4,163
|
||||||
Recoveries and reimbursements4
|
|
(399)
|
||||||
Exchange and other adjustments5
|
|
145
|
||||||
Impairment charge on loan commitments and other financial
guarantees
|
|
776
|
||||||
Impairment charge on other financial assets3
|
|
153
|
||||||
As at 31 December 2020
|
|
|
|
|
|
|
|
4,838
|
1
|
The £1.9bn disposals reported within Credit cards, unsecured
loans and other retail lending portfolio include £1.7bn sale
of motor financing business within the Barclays Partner Finance
business and £0.2bn relate to debt sales undertaken during the
year. The £2.4bn disposal reported within Wholesale loans
include sale of debt securities as part of Group Treasury
Operations.
|
2
|
In 2020, gross write-offs amounted to £1,964m (2019:
£1,883m) and post write-off recoveries amounted to £35m
(2019: £124m). Net write-offs represent gross write-offs less
post write-off recoveries and amounted to £1,929m (2019:
£1,759m).
|
3
|
Other financial assets subject to impairment excluded from the
tables above include cash collateral and settlement balances,
financial assets at fair value through other comprehensive income
and other assets. These have a total gross exposure of
£180.3bn (December 2019: £149.3bn) and impairment
allowance of £175.7m (December 2019: £24m). This
comprises £11m ECL (December 2019: £12m) on £175.7bn
Stage 1 assets (December 2019: £148.5m), £9m (December
2019: £2m) on £4.4bn Stage 2 fair value through other
comprehensive income assets, cash collateral and settlement assets
(December 2019: £0.8bn) and £145m (December 2019:
£10m) on £154m Stage 3 other assets (December 2019:
£10m).
|
4
|
Recoveries and reimbursements includes £364m for
reimbursements expected to be received under the arrangement where
Group has entered into financial guarantee contracts which provide
credit protection over certain loans assets with third parties.
Cash recoveries of previously written off amounts to
£35m.
|
5
|
Includes foreign exchange and interest and fees in
suspense.
|
Loan commitments and financial guarantees
|
||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
||||
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Home loans
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2020
|
9,542
|
-
|
500
|
-
|
4
|
-
|
10,046
|
-
|
Net transfers between stages
|
(82)
|
-
|
78
|
-
|
4
|
-
|
-
|
-
|
Business activity in the year
|
7,975
|
-
|
-
|
-
|
-
|
-
|
7,975
|
-
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(5,332)
|
-
|
(27)
|
-
|
(2)
|
-
|
(5,361)
|
-
|
Limit management and final repayments
|
(242)
|
-
|
(35)
|
-
|
(1)
|
-
|
(278)
|
-
|
As at 31 December 2020
|
11,861
|
-
|
516
|
-
|
5
|
-
|
12,382
|
-
|
|
|
|
|
|
|
|
|
|
Credit cards, unsecured loans and other retail lending
|
||||||||
As at 1 January 2020
|
125,759
|
35
|
6,238
|
71
|
250
|
14
|
132,247
|
120
|
Net transfers between stages
|
(5,477)
|
43
|
4,725
|
(40)
|
752
|
(3)
|
-
|
-
|
Business activity in the year
|
5,214
|
2
|
158
|
3
|
2
|
1
|
5,374
|
6
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
1,298
|
(22)
|
1,636
|
272
|
(671)
|
15
|
2,263
|
265
|
Limit management and final repayments
|
(12,423)
|
(3)
|
(640)
|
(1)
|
(104)
|
(4)
|
(13,167)
|
(8)
|
As at 31 December 2020
|
114,371
|
55
|
12,117
|
305
|
229
|
23
|
126,717
|
383
|
|
|
|
|
|
|
|
|
|
Wholesale loans
|
|
|
|
|
|
|
|
|
As at 1 January 2020
|
185,839
|
62
|
12,447
|
99
|
681
|
41
|
198,967
|
202
|
Net transfers between stages
|
(28,325)
|
67
|
27,319
|
(72)
|
1,006
|
5
|
-
|
-
|
Business activity in the year
|
42,917
|
32
|
4,708
|
102
|
774
|
2
|
48,399
|
136
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
13,637
|
47
|
(44)
|
338
|
(69)
|
(20)
|
13,524
|
365
|
Limit management and final repayments
|
(50,361)
|
(7)
|
(4,172)
|
(14)
|
(296)
|
(1)
|
(54,829)
|
(22)
|
As at 31 December 2020
|
163,707
|
201
|
40,258
|
453
|
2,096
|
27
|
206,061
|
681
|
Management adjustments to models for
impairment1
|
||||
|
2020
|
2019
|
||
|
Management adjustments to impairment allowances
|
Proportion of total impairment allowances
|
Management adjustments to impairment allowances
|
Proportion of total impairment
allowances2
|
As at 31 December
|
£m
|
%
|
£m
|
%
|
Home loans
|
131
|
24.3
|
57
|
13.2
|
Credit cards, unsecured loans and other retail lending
|
1,234
|
20.3
|
308
|
6.2
|
Wholesale loans
|
23
|
0.8
|
(25)
|
(2.1)
|
Total
|
1,388
|
14.8
|
340
|
5.1
|
Management adjustments to models for
impairment charges1
|
||||
|
Impairment allowance pre management
adjustments3
|
Economic uncertainty adjustments
|
Other
adjustments
|
Total impairment allowance
|
As at 31 December 2020
|
£m
|
£m
|
£m
|
£m
|
Home loans
|
407
|
21
|
110
|
538
|
Credit cards, unsecured loans and other retail lending
|
4,849
|
1,625
|
(391)
|
6,083
|
Wholesale loans
|
2,755
|
421
|
(398)
|
2,778
|
Total
|
8,011
|
2,067
|
(679)
|
9,399
|
1
|
Positive values
relate to an increase in impairment allowance.
|
2
|
The 2019
comparative figures have been restated to include impairment
allowances on both drawn and undrawn exposures.
|
3
|
Includes
£6.8bn of modelled ECL, £0.9bn of individually assessed
impairments and £0.3bn ECL from non-modelled
exposures.
|
●
|
Use of
expert judgement to adjust the probability of default £0.7bn
to pre-COVID levels to reflect the impact of temporary support
measures on underlying customer behaviour, partially offset by
government guarantees £(0.1)bn which are materially against
BBLs;
|
●
|
Adjusting
macroeconomic variables deemed temporarily influenced by support
measures, enabling models to consume the expected stress
£1.2bn;
|
●
|
A
£0.3bn adjustment has been applied to selected sectors in
Stage 1 to increase the ECL coverage on these names in line with
the average Stage 2 coverage of the respective sector. This
adjustment is materially in response to the increased stress in
these sectors not captured through the ECL models.
|
Baseline average macroeconomic variables used in the calculation of
ECL
|
||||
|
2021
|
2022
|
2023
|
Expected Worst Point
|
As at 31.12.20
|
%
|
%
|
%
|
%
|
UK GDP1
|
6.3
|
3.3
|
2.6
|
1.2
|
UK unemployment2
|
6.7
|
6.4
|
5.8
|
7.4
|
UK HPI3
|
2.4
|
2.3
|
5.0
|
0.6
|
UK bank rate
|
-
|
(0.1)
|
-
|
(0.1)
|
US GDP1
|
3.9
|
3.1
|
2.9
|
1.0
|
US unemployment4
|
6.9
|
5.7
|
5.6
|
7.5
|
US HPI5
|
2.8
|
4.7
|
4.7
|
0.7
|
US federal funds rate
|
0.3
|
0.3
|
0.3
|
0.3
|
|
|
|
|
|
|
2020
|
2021
|
2022
|
Expected Worst Point
|
As at 31.12.19
|
%
|
%
|
%
|
%
|
UK GDP1
|
1.3
|
1.5
|
1.6
|
0.3
|
UK unemployment2
|
4.1
|
4.2
|
4.2
|
4.2
|
UK HPI3
|
1.9
|
3.1
|
3.6
|
0.3
|
UK bank rate
|
0.6
|
0.5
|
0.8
|
0.5
|
US GDP1
|
2.1
|
1.9
|
1.9
|
0.5
|
US unemployment4
|
3.6
|
3.9
|
4.0
|
4.0
|
US HPI5
|
3.4
|
2.9
|
2.8
|
1.0
|
US federal funds rate
|
1.7
|
1.5
|
1.7
|
1.5
|
1
|
Average Real
GDP seasonally adjusted change in year; expected worst point is the
minimum growth relative to Q420 (2019: Q419) based on a 12 quarter
period.
|
2
|
Average UK
unemployment rate 16-year+; expected worst point is the highest
rate in the 12 quarter period starting Q121 (2019:
Q120).
|
3
|
Change in year
end UK HPI = Halifax All Houses, All Buyers index, relative to
prior year end; worst point is based on minimum growth relative to
Q420 (2019: Q419) based on a 12 quarter period.
|
4
|
Average US
civilian unemployment rate 16-year+; expected worst point is the
highest rate in the 12 quarter period starting Q121 (2019:
Q120).
|
5
|
Change in year
end US HPI = FHFA house price index, relative to prior year end;
worst point is based on minimum growth relative to Q420 (2019:
Q419) based on a 12 quarter period.
|
Scenario probability weighting
|
|
|
|
|
|
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
|
%
|
%
|
%
|
%
|
%
|
As at 31.12.20
|
|
|
|
|
|
Scenario probability weighting
|
20.2
|
24.2
|
24.7
|
15.5
|
15.4
|
As at 31.12.19
|
|
|
|
|
|
Scenario probability weighting
|
10.1
|
23.1
|
40.8
|
22.7
|
3.3
|
Macroeconomic variables (specific
bases)1
|
|
|
|
|
|
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
As at 31.12.20
|
%
|
%
|
%
|
%
|
%
|
UK GDP2
|
14.2
|
8.8
|
0.7
|
(22.1)
|
(22.1)
|
UK unemployment3
|
4.0
|
4.0
|
5.7
|
8.4
|
10.1
|
UK HPI4
|
48.2
|
30.8
|
3.6
|
(4.5)
|
(18.3)
|
UK bank rate3
|
0.1
|
0.1
|
-
|
0.6
|
0.6
|
US GDP2
|
15.7
|
12.8
|
1.6
|
(10.6)
|
(10.6)
|
US unemployment3
|
3.8
|
3.8
|
6.4
|
13.0
|
13.7
|
US HPI4
|
42.2
|
30.9
|
3.8
|
(3.7)
|
(15.9)
|
US federal funds rate3
|
0.1
|
0.1
|
0.3
|
1.3
|
1.3
|
|
|
|
|
|
|
As at 31.12.19
|
|
|
|
|
|
UK GDP2
|
15.4
|
11.7
|
1.5
|
0.2
|
(4.6)
|
UK unemployment3
|
3.4
|
3.8
|
4.1
|
5.8
|
8.8
|
UK HPI4
|
41.1
|
28.8
|
2.8
|
(6.3)
|
(31.1)
|
UK bank rate3
|
0.5
|
0.5
|
0.7
|
2.8
|
4.0
|
US GDP2
|
17.9
|
14.9
|
2.1
|
0.5
|
(3.0)
|
US unemployment3
|
3.0
|
3.5
|
3.9
|
5.4
|
8.5
|
US HPI4
|
35.8
|
23.7
|
3.2
|
0.3
|
(16.7)
|
US federal funds rate3
|
1.5
|
1.5
|
1.8
|
3.0
|
3.5
|
Macroeconomic variables (5-year
averages)1
|
|
|
|
|
|
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
As at 31.12.20
|
%
|
%
|
%
|
%
|
%
|
UK GDP5
|
2.5
|
1.6
|
0.7
|
0.1
|
(0.9)
|
UK unemployment6
|
5.0
|
5.3
|
5.7
|
6.5
|
7.2
|
UK HPI7
|
8.2
|
5.5
|
3.6
|
(0.2)
|
(3.6)
|
UK bank rate6
|
0.3
|
0.2
|
-
|
-
|
(0.1)
|
US GDP5
|
2.9
|
2.4
|
1.6
|
0.8
|
0.1
|
US unemployment6
|
5.3
|
5.7
|
6.4
|
8.3
|
10.4
|
US HPI7
|
7.3
|
5.5
|
3.8
|
0.8
|
(3.0)
|
US federal funds rate6
|
0.5
|
0.5
|
0.3
|
0.3
|
0.3
|
|
|
|
|
|
|
As at 31.12.19
|
|
|
|
|
|
UK GDP5
|
2.9
|
2.2
|
1.5
|
0.8
|
(0.6)
|
UK unemployment6
|
3.6
|
3.9
|
4.1
|
5.1
|
7.0
|
UK HPI7
|
7.1
|
5.2
|
2.8
|
(1.1)
|
(6.9)
|
UK bank rate6
|
0.6
|
0.6
|
0.7
|
2.1
|
3.1
|
US GDP5
|
3.4
|
2.9
|
2.1
|
1.3
|
(0.1)
|
US unemployment6
|
3.2
|
3.7
|
3.9
|
4.7
|
6.6
|
US HPI7
|
6.3
|
4.3
|
3.2
|
1.6
|
(3.4)
|
US federal funds rate6
|
1.7
|
1.7
|
1.8
|
2.8
|
3.2
|
1
|
UK GDP = Real
GDP growth seasonally adjusted; UK unemployment = UK unemployment
rate 16-year+; UK HPI = Halifax All Houses, All Buyers Index; US
GDP = Real GDP growth seasonally adjusted; US unemployment = US
civilian unemployment rate 16-year+; US HPI = FHFA house price
index.
|
2
|
Maximum growth
relative to Q419 (2019: Q418), based on 20 quarter period in Upside
scenarios; 5-year yearly average CAGR in Baseline; minimum growth
relative to Q419 (2019: Q418), based on 20 quarter period in
Downside scenarios.
|
3
|
Lowest quarter
in Upside scenarios; 5-year average in Baseline; highest quarter in
Downside scenarios. Period based on 20 quarters from Q120 (2019:
Q119).
|
4
|
Maximum growth
relative to Q419 (2019: Q418), based on 20 quarter period in Upside
scenarios; 5-year quarter end CAGR in Baseline; minimum growth
relative to Q419 (2019: Q418), based on 20 quarter period in
Downside scenarios.
|
5
|
5-year yearly
average CAGR, starting 2019 (2019: 2018).
|
6
|
5-year average.
Period based on 20 quarters from Q120 (2019:
Q119).
|
7
|
5-year quarter
end CAGR, starting Q419 (2019: Q418).
|
Home loans principal portfolios
|
|
|
Barclays UK
|
|
|
|
As at
31.12.20
|
As at
31.12.19
|
|
Gross loans and advances (£m)
|
|
|
148,343
|
143,259
|
90 day arrears rate, excluding recovery book (%)
|
|
|
0.2
|
0.2
|
Annualised gross charge-off rate - 180 days past due
(%)
|
|
|
0.6
|
0.6
|
Recovery book proportion of outstanding balances (%)
|
|
|
0.6
|
0.5
|
Recovery book impairment coverage ratio (%)1
|
|
|
3.2
|
5.2
|
|
|
|
|
|
Average marked to market LTV
|
|
|
|
|
Balance weighted (%)
|
|
|
50.7
|
51.1
|
Valuation weighted (%)1
|
|
|
37.6
|
37.9
|
|
|
|
|
|
New lending
|
|
|
Year ended 31.12.20
|
Year ended 31.12.19
|
New home loan completions (£m)
|
|
|
22,776
|
25,530
|
New home loans proportion > 90% LTV (%)
|
|
|
2.6
|
4.2
|
Average LTV on new home loans: balance weighted (%)
|
|
|
67.5
|
67.9
|
Average LTV on new home loans: valuation weighted
(%)1
|
|
|
59.6
|
59.8
|
Home loans principal portfolios
– distribution of balances by LTV2
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distribution of balances
|
Distribution of impairment allowance
|
Coverage ratio
|
|||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Barclays UK
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
As at 31.12.20
|
|
|
|
|
|
|
|
|
|
|
|
|
<=75%
|
75.7
|
11.6
|
0.6
|
87.9
|
17.9
|
15.0
|
19.0
|
51.9
|
-
|
0.1
|
1.8
|
-
|
>75% and <=90%
|
10.8
|
0.8
|
-
|
11.6
|
9.7
|
14.8
|
7.6
|
32.1
|
0.1
|
1.2
|
16.0
|
0.2
|
>90% and <=100%
|
0.4
|
-
|
-
|
0.4
|
0.8
|
1.5
|
2.2
|
4.5
|
0.1
|
2.6
|
35.7
|
0.7
|
>100%
|
0.1
|
-
|
-
|
0.1
|
0.7
|
3.4
|
7.4
|
11.5
|
0.7
|
10.3
|
69.1
|
8.0
|
As at 31.12.19
|
|
|
|
|
|
|
|
|
|
|
|
|
<=75%
|
76.0
|
10.7
|
0.7
|
87.4
|
4.2
|
15.4
|
28.5
|
48.1
|
-
|
0.1
|
2.2
|
-
|
>75% and <=90%
|
10.4
|
0.7
|
-
|
11.1
|
2.7
|
11.5
|
12.6
|
26.8
|
-
|
0.9
|
19.7
|
0.1
|
>90% and <=100%
|
1.3
|
0.1
|
-
|
1.4
|
0.8
|
2.5
|
4.9
|
8.2
|
-
|
1.8
|
54.4
|
0.3
|
>100%
|
0.1
|
-
|
-
|
0.1
|
0.2
|
4.1
|
12.6
|
16.9
|
0.2
|
8.7
|
107.4
|
9.0
|
1
|
2019 numbers
have been restated to factor in Wealth accounts to align with 2020
figures.
|
2
|
Portfolio
marked to market based on the most updated valuation including
recovery book balances. Updated valuations reflect the application
of the latest HPI available as at 31 December
2020.
|
Principal portfolios
|
Gross exposure
|
30 day arrears rate, excluding recovery book
|
90 day arrears rate, excluding recovery book
|
Annualised gross write-off rate
|
Annualised net write-off rate
|
As at 31.12.20
|
£m
|
%
|
%
|
%
|
%
|
Barclays UK
|
|
|
|
|
|
UK cards
|
11,911
|
1.7
|
0.8
|
2.9
|
2.9
|
UK personal loans
|
4,591
|
2.3
|
1.2
|
3.4
|
3.1
|
Barclays Partner Finance1
|
2,469
|
0.5
|
0.3
|
1.1
|
1.1
|
Barclays International
|
|
|
|
|
|
US cards
|
16,845
|
2.5
|
1.4
|
5.6
|
5.6
|
Germany consumer lending
|
3,458
|
1.9
|
0.8
|
1.2
|
1.1
|
|
|
|
|
|
|
As at 31.12.19
|
|
|
|
|
|
Barclays UK
|
|
|
|
|
|
UK cards
|
16,457
|
1.7
|
0.8
|
1.6
|
1.6
|
UK personal loans
|
6,139
|
2.1
|
1.0
|
3.2
|
2.9
|
Barclays International
|
|
|
|
|
|
US cards
|
22,041
|
2.7
|
1.4
|
4.5
|
4.4
|
Barclays Partner Finance1
|
4,134
|
0.9
|
0.3
|
1.7
|
1.7
|
Germany consumer lending2
|
3,683
|
1.8
|
0.7
|
1.1
|
1.0
|
1
|
On 1 April
2020, the Barclays Partner Finance business moved from Barclays
International to Barclays UK. The 2019 comparative figures have not
been restated.
|
2
|
2019 Germany
consumer lending numbers have been restated to include the Fundy
unsecured portfolio and other adjustments to write off
rates.
|
Management VaR (95%) by asset class
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
Year ended 31.12.20
|
|
Year ended 31.12.19
|
||||
|
Average
|
High1
|
Low1
|
|
Average
|
High1
|
Low1
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Credit risk
|
20
|
38
|
10
|
|
12
|
17
|
8
|
Interest rate risk
|
10
|
17
|
6
|
|
6
|
11
|
3
|
Equity risk
|
13
|
35
|
6
|
|
10
|
22
|
5
|
Basis risk
|
10
|
16
|
7
|
|
8
|
11
|
6
|
Spread risk
|
5
|
9
|
3
|
|
4
|
5
|
3
|
Foreign exchange risk
|
5
|
7
|
2
|
|
3
|
5
|
2
|
Commodity risk
|
1
|
1
|
-
|
|
1
|
2
|
-
|
Inflation risk
|
2
|
3
|
1
|
|
2
|
3
|
1
|
Diversification effect
|
(34)
|
n/a
|
n/a
|
|
(23)
|
n/a
|
n/a
|
Total management VaR
|
32
|
57
|
18
|
|
23
|
29
|
17
|
1
|
Diversification
effects recognise that forecast losses from different assets or
businesses are unlikely to occur concurrently, hence the expected
aggregate loss is lower than the sum of the expected losses from
each area. Historical correlations between losses are taken into
account in making these assessments. The high and low VaR figures
reported for each category did not necessarily occur on the same
day as the high and low VaR reported as a whole. Consequently, a
diversification effect balance for the high and low VaR figures
would not be meaningful and is therefore omitted from the above
table.
|
Liquidity coverage ratio
|
|
|
|
As at 31.12.20
|
As at 31.12.19
|
|
£bn
|
£bn
|
Eligible liquidity buffer
|
258
|
206
|
Net stress outflows
|
(159)
|
(128)
|
Surplus
|
99
|
78
|
|
|
|
Liquidity coverage ratio
|
162%
|
160%
|
Composition of the Group liquidity pool
|
|||||
|
As at 31.12.20
|
As at 31.12.19
|
|||
|
Liquidity pool
|
Liquidity pool of which CRR LCR
eligible3
|
Liquidity pool
|
||
|
Cash
|
Level 1
|
Level 2A
|
||
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Cash and deposits with central
banks1
|
197
|
192
|
-
|
-
|
153
|
|
|
|
|
|
|
Government bonds2
|
|
|
|
|
|
AAA to AA-
|
31
|
-
|
29
|
1
|
31
|
A+ to A-
|
13
|
-
|
6
|
7
|
2
|
BBB+ to BBB-
|
1
|
-
|
1
|
-
|
3
|
Total government bonds
|
45
|
-
|
36
|
8
|
36
|
|
|
|
|
|
|
Other
|
|
|
|
|
|
Government guaranteed issuers, PSEs and GSEs
|
10
|
-
|
8
|
1
|
9
|
International organisations and MDBs
|
6
|
-
|
5
|
-
|
7
|
Covered bonds
|
8
|
-
|
6
|
2
|
6
|
Total other
|
24
|
-
|
19
|
3
|
22
|
|
|
|
|
|
|
Total as at 31 December 2020
|
266
|
192
|
55
|
11
|
211
|
Total as at 31 December 2019
|
211
|
150
|
50
|
3
|
|
1
|
Includes cash
held at central banks and surplus cash at central banks related to
payment schemes. Over 98% (December 2019: over 98%) was placed with
the Bank of England, US Federal Reserve, European Central Bank,
Bank of Japan and Swiss National Bank.
|
2
|
Of which over
78% (December 2019: over 79%) comprised UK, US, French, German,
Japanese, Swiss and Dutch securities.
|
3
|
The LCR
eligible liquidity pool is adjusted for trapped liquidity and other
regulatory deductions. It also incorporates other CRR (as amended
by CRR II) qualifying assets that are not eligible under
Barclays’ internal risk appetite.
|
Deposit funding
|
|
|
|
|
|
|
As at 31.12.20
|
|
As at 31.12.19
|
||
|
Loans and advances at amortised cost
|
Deposits at amortised cost
|
Loan: deposit ratio1
|
|
Loan: deposit ratio1
|
Funding of loans and advances
|
£bn
|
£bn
|
%
|
|
%
|
Barclays UK
|
214
|
240
|
89%
|
|
96%
|
Barclays International
|
123
|
241
|
51%
|
|
63%
|
Head Office
|
6
|
|
|
|
|
Barclays Group
|
343
|
481
|
71%
|
|
82%
|
1
|
The loan:
deposit ratio is calculated as loans and advances at amortised cost
divided by deposits at amortised cost.
|
Maturity profile of wholesale
funding1,2
|
|
|
|
|
|
|
|
||||
|
<1
|
1-3
|
3-6
|
6-12
|
<1
|
1-2
|
2-3
|
3-4
|
4-5
|
>5
|
|
|
month
|
months
|
months
|
months
|
year
|
years
|
years
|
years
|
years
|
years
|
Total
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Barclays PLC (the Parent company)
|
|
|
|
|
|
|
|
|
|
|
|
Senior unsecured (public benchmark)
|
1.1
|
1.1
|
-
|
1.2
|
3.4
|
1.4
|
7.7
|
5.6
|
5.1
|
13.5
|
36.7
|
Senior unsecured (privately placed)
|
0.1
|
-
|
-
|
0.1
|
0.2
|
-
|
0.2
|
0.2
|
-
|
0.7
|
1.3
|
Subordinated liabilities
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
0.9
|
-
|
6.8
|
7.7
|
Barclays Bank PLC (including subsidiaries)
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit and commercial paper
|
-
|
5.4
|
3.1
|
5.6
|
14.1
|
0.5
|
0.1
|
-
|
-
|
-
|
14.7
|
Asset backed commercial paper
|
1.4
|
5.0
|
0.7
|
-
|
7.1
|
-
|
-
|
-
|
-
|
-
|
7.1
|
Senior unsecured (public benchmark)
|
-
|
0.5
|
0.1
|
0.1
|
0.7
|
1.3
|
0.1
|
1.1
|
-
|
0.9
|
4.1
|
Senior unsecured (privately placed)3
|
0.8
|
2.3
|
2.2
|
4.2
|
9.5
|
7.1
|
6.4
|
3.9
|
4.9
|
21.7
|
53.5
|
Asset backed securities
|
-
|
-
|
-
|
0.5
|
0.5
|
0.8
|
0.4
|
0.5
|
0.2
|
1.4
|
3.8
|
Subordinated liabilities
|
1.4
|
0.2
|
3.2
|
0.3
|
5.1
|
2.2
|
-
|
0.1
|
-
|
1.2
|
8.6
|
Barclays Bank UK PLC (including subsidiaries)
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit and commercial paper
|
-
|
0.9
|
0.2
|
0.1
|
1.2
|
-
|
-
|
-
|
-
|
-
|
1.2
|
Senior unsecured (Public benchmark)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
0.1
|
0.1
|
Covered bonds
|
0.9
|
-
|
-
|
-
|
0.9
|
2.3
|
1.8
|
-
|
-
|
1.2
|
6.2
|
Total as at 31 December 2020
|
5.7
|
15.4
|
9.5
|
12.1
|
42.7
|
15.6
|
16.7
|
12.3
|
10.2
|
47.5
|
145.0
|
Of which secured
|
2.3
|
5.0
|
0.7
|
0.5
|
8.5
|
3.1
|
2.2
|
0.5
|
0.2
|
2.6
|
17.1
|
Of which unsecured
|
3.4
|
10.4
|
8.8
|
11.6
|
34.2
|
12.5
|
14.5
|
11.8
|
10.0
|
44.9
|
127.9
|
|
|
|
|
|
|
|
|
|
|
|
|
Total as at 31 December 2019
|
4.5
|
11.6
|
9.4
|
15.1
|
40.6
|
19.8
|
12.1
|
15.1
|
11.6
|
47.9
|
147.1
|
Of which secured
|
1.6
|
5.3
|
2.3
|
0.5
|
9.7
|
0.9
|
2.5
|
2.4
|
0.9
|
3.2
|
19.6
|
Of which unsecured
|
2.9
|
6.3
|
7.1
|
14.6
|
30.9
|
18.9
|
9.6
|
12.7
|
10.7
|
44.7
|
127.5
|
1
|
The composition
of wholesale funds comprises the balance sheet reported financial
liabilities at fair value, debt securities in issue and
subordinated liabilities. It does not include participation in the
central bank facilities reported within repurchase agreements and
other similar secured borrowing.
|
2
|
Term funding
comprises public benchmark and privately placed senior unsecured
notes, covered bonds, asset-backed securities and subordinated debt
where the original maturity of the instrument is more than 1
year.
|
3
|
Includes
structured notes of £45.4bn, of which £8.7bn matures
within one year.
|
Capital
ratios1,2,3
|
As at
|
As at
|
As at
|
31.12.20
|
30.09.20
|
31.12.19
|
|
CET1
|
15.1%
|
14.6%
|
13.8%
|
Tier 1 (T1)
|
19.0%
|
18.7%
|
17.7%
|
Total regulatory capital
|
22.1%
|
22.5%
|
21.6%
|
|
|
|
|
Capital resources
|
£m
|
£m
|
£m
|
Total equity excluding non-controlling interests per the balance
sheet
|
65,797
|
67,816
|
64,429
|
Less: other equity instruments (recognised as AT1
capital)
|
(11,172)
|
(12,012)
|
(10,871)
|
Adjustment to retained earnings for foreseeable dividends and other
equity coupons
|
(204)
|
(65)
|
(1,096)
|
|
|
|
|
Other regulatory adjustments and deductions
|
|
|
|
Additional value adjustments (PVA)
|
(1,146)
|
(1,241)
|
(1,746)
|
Goodwill and intangible assets
|
(6,914)
|
(8,154)
|
(8,109)
|
Deferred tax assets that rely on future profitability excluding
temporary differences
|
(595)
|
(422)
|
(479)
|
Fair value reserves related to gains or losses on cash flow
hedges
|
(1,575)
|
(1,745)
|
(1,002)
|
Gains or losses on liabilities at fair value resulting from own
credit
|
870
|
717
|
260
|
Defined benefit pension fund assets
|
(1,326)
|
(1,785)
|
(1,594)
|
Direct and indirect holdings by an institution of own CET1
instruments
|
(50)
|
(50)
|
(50)
|
Adjustment under IFRS 9 transitional arrangements
|
2,556
|
2,512
|
1,126
|
Other regulatory adjustments
|
55
|
(62)
|
(55)
|
CET1 capital
|
46,296
|
45,509
|
40,813
|
|
|
|
|
AT1 capital
|
|
|
|
Capital instruments and related share premium accounts
|
11,172
|
12,012
|
10,871
|
Qualifying AT1 capital (including minority interests) issued by
subsidiaries
|
646
|
622
|
687
|
Other regulatory adjustments and deductions
|
(80)
|
(80)
|
(130)
|
AT1 capital
|
11,738
|
12,554
|
11,428
|
|
|
|
|
T1 capital
|
58,034
|
58,063
|
52,241
|
|
|
|
|
T2 capital
|
|
|
|
Capital instruments and related share premium accounts
|
7,836
|
9,451
|
7,650
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries
|
1,893
|
2,516
|
3,984
|
Credit risk adjustments (excess of impairment over expected
losses)
|
57
|
36
|
16
|
Other regulatory adjustments and deductions
|
(160)
|
(160)
|
(250)
|
Total regulatory capital
|
67,660
|
69,906
|
63,641
|
|
|
|
|
Total RWAs
|
306,203
|
310,727
|
295,131
|
1
|
CET1, T1 and T2
capital, and RWAs are calculated applying the transitional
arrangements of the CRR as amended by CRR II. This includes IFRS 9
transitional arrangements and the grandfathering of CRR and CRR II
non-compliant capital instruments.
|
2
|
The fully
loaded CET1 ratio, as is relevant for assessing against the
conversion trigger in Barclays PLC AT1 securities, was 14.3%, with
£43.7bn of CET1 capital and £305.3bn of RWAs calculated
without applying the transitional arrangements of the CRR as
amended by CRR II.
|
3
|
The
Group’s CET1 ratio, as is relevant for assessing against the
conversion trigger in Barclays Bank PLC 7.625% Contingent Capital
Notes, was 15.1%. For this calculation CET1 capital and RWAs are
calculated applying the transitional arrangements under the CRR as
amended by CRR II, including the IFRS 9 transitional arrangements.
The benefit of the Financial Services Authority (FSA) October 2012
interpretation of the transitional provisions, relating to the
implementation of CRD IV, expired in December
2017.
|
Movement in CET1 capital
|
Three months
|
Year
|
ended
|
ended
|
|
31.12.20
|
31.12.20
|
|
£m
|
£m
|
|
Opening CET1 capital
|
45,509
|
40,813
|
|
|
|
Profit for the period attributable to equity holders
|
446
|
2,383
|
Own credit relating to derivative liabilities
|
10
|
29
|
Dividends and other equity coupons paid and foreseen
|
(365)
|
35
|
Increase in retained regulatory capital generated from
earnings
|
91
|
2,447
|
|
|
|
Net impact of share schemes
|
95
|
115
|
Fair value through other comprehensive income reserve
|
397
|
192
|
Currency translation reserve
|
(977)
|
(473)
|
Other reserves
|
(42)
|
(48)
|
Decrease in other qualifying reserves
|
(527)
|
(214)
|
|
|
|
Pension remeasurements within reserves
|
(433)
|
(111)
|
Defined benefit pension fund asset deduction
|
459
|
268
|
Net impact of pensions
|
26
|
157
|
|
|
|
Additional value adjustments (PVA)
|
95
|
600
|
Goodwill and intangible assets
|
1,240
|
1,195
|
Deferred tax assets that rely on future profitability excluding
those arising from temporary differences
|
(173)
|
(116)
|
Adjustment under IFRS 9 transitional arrangements
|
44
|
1,430
|
Other regulatory adjustments
|
(9)
|
(16)
|
Increase in regulatory capital due to adjustments and
deductions
|
1,197
|
3,093
|
|
|
|
Closing CET1 capital
|
46,296
|
46,296
|
|
|
|
●
|
A
£0.5bn decrease in the currency translation reserve mainly
driven by the depreciation of period end USD against
GBP
|
●
|
A
£0.6bn increase due to a reduction in PVA which includes the
temporary increase to diversification factors applied to certain
additional valuation adjustments
|
●
|
A
£1.2bn increase due to a reduction in the goodwill and
intangible assets deduction driven by a new regulatory technical
standard replacing the deduction with prudential amortisation up to
a 3-year period on qualifying software assets
|
●
|
A
£1.4bn increase in the IFRS 9 transitional relief after tax,
following new impairment charges and the implementation of new
regulatory measures which allow for 100% relief on increases in
stage 1 and stage 2 impairment throughout 2020 and
2021
|
RWAs by risk type and business
|
|||||||||||||
|
Credit risk
|
|
Counterparty credit risk
|
|
Market risk
|
|
Operational risk
|
Total RWAs
|
|||||
|
Std
|
IRB
|
|
Std
|
IRB
|
Settlement risk
|
CVA
|
|
Std
|
IMA
|
|
|
|
As at 31.12.20
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
Barclays UK
|
7,360
|
54,340
|
|
394
|
-
|
-
|
136
|
|
72
|
-
|
|
11,359
|
73,661
|
Corporate
and Investment Bank
|
24,660
|
73,792
|
|
12,047
|
20,280
|
246
|
2,351
|
|
13,123
|
22,363
|
|
23,343
|
192,205
|
Consumer,
Cards and Payments
|
19,754
|
3,041
|
|
177
|
45
|
-
|
31
|
|
-
|
71
|
|
6,996
|
30,115
|
Barclays International
|
44,414
|
76,833
|
|
12,224
|
20,325
|
246
|
2,382
|
|
13,123
|
22,434
|
|
30,339
|
222,320
|
Head Office
|
4,153
|
6,869
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
|
(800)
|
10,222
|
Barclays Group
|
55,927
|
138,042
|
|
12,618
|
20,325
|
246
|
2,518
|
|
13,195
|
22,434
|
|
40,898
|
306,203
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 30.09.20
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
7,350
|
56,373
|
|
369
|
-
|
-
|
100
|
|
125
|
-
|
|
11,851
|
76,168
|
Corporate
and Investment Bank
|
24,800
|
76,464
|
|
11,628
|
20,645
|
106
|
2,545
|
|
13,043
|
22,709
|
|
21,388
|
193,328
|
Consumer,
Cards and Payments
|
20,597
|
2,921
|
|
168
|
47
|
-
|
35
|
|
-
|
75
|
|
7,538
|
31,381
|
Barclays International
|
45,397
|
79,385
|
|
11,796
|
20,692
|
106
|
2,580
|
|
13,043
|
22,784
|
|
28,926
|
224,709
|
Head Office
|
3,701
|
6,022
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
|
127
|
9,850
|
Barclays Group
|
56,448
|
141,780
|
|
12,165
|
20,692
|
106
|
2,680
|
|
13,168
|
22,784
|
|
40,904
|
310,727
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 31.12.19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
5,189
|
57,455
|
|
235
|
-
|
-
|
23
|
|
178
|
-
|
|
11,821
|
74,901
|
Corporate
and Investment Bank
|
25,749
|
62,177
|
|
12,051
|
16,875
|
276
|
2,470
|
|
12,854
|
17,626
|
|
21,475
|
171,553
|
Consumer,
Cards and Payments
|
27,209
|
2,706
|
|
92
|
37
|
-
|
11
|
|
-
|
103
|
|
7,532
|
37,690
|
Barclays International
|
52,958
|
64,883
|
|
12,143
|
16,912
|
276
|
2,481
|
|
12,854
|
17,729
|
|
29,007
|
209,243
|
Head Office
|
5,104
|
5,754
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
|
129
|
10,987
|
Barclays Group
|
63,251
|
128,092
|
|
12,378
|
16,912
|
276
|
2,504
|
|
13,032
|
17,729
|
|
40,957
|
295,131
|
Movement analysis of RWAs
|
|||||
|
Credit risk
|
Counterparty credit risk
|
Market risk
|
Operational risk
|
Total RWAs
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Opening RWAs (as at 31.12.19)
|
191,343
|
32,070
|
30,761
|
40,957
|
295,131
|
Book size
|
(6,573)
|
2,232
|
9,188
|
(59)
|
4,788
|
Acquisitions and disposals
|
(165)
|
-
|
-
|
-
|
(165)
|
Book quality
|
9,081
|
1,365
|
-
|
-
|
10,446
|
Model updates
|
2,796
|
150
|
-
|
-
|
2,946
|
Methodology and policy
|
(851)
|
(110)
|
(4,320)
|
-
|
(5,281)
|
Foreign exchange movements1
|
(1,662)
|
-
|
-
|
-
|
(1,662)
|
Total RWA movements
|
2,626
|
3,637
|
4,868
|
(59)
|
11,072
|
Closing RWAs (as at 31.12.20)
|
193,969
|
35,707
|
35,629
|
40,898
|
306,203
|
1
|
Foreign
exchange movements do not include foreign exchange for counterparty
credit risk or market risk.
|
●
|
A
£6.6bn decrease in book size primarily due to lower consumer
lending partially offset by growth in mortgages within
BUK
|
●
|
A
£9.1bn increase in book quality due to a reduction in credit
quality primarily within CIB
|
●
|
A
£2.8bn increase in model updates primarily due to modelled
risk weight recalibrations
|
●
|
A
£0.9bn decrease in methodology and policy primarily due the
application of revised SME discount factors under CRR II, partially
offset by an increase due to the risk weighting of qualifying
software assets that are no longer deducted from CET1
capital
|
●
|
A
£1.7bn decrease due to the depreciation of period end USD
against GBP
|
●
|
A
£2.2bn increase in book size primarily due to an increase in
trading activities across SFTs and derivatives
|
●
|
A
£1.4bn increase in book quality primarily due to a reduction
in credit quality within CIB
|
●
|
A
£9.2bn increase in book size primarily due to an increase in
trading activities and higher market volatility
|
●
|
A
£4.3bn decrease in methodology and policy primarily due to the
removal of a Risk Not In VaR (RNIV) and a reduction in pre COVID-19
VaR backtesting exceptions
|
Leverage
ratios1,2
|
As at
31.12.20
|
As at
30.09.20
|
As at
31.12.19
|
£m
|
£m
|
£m
|
|
Average UK leverage ratio
|
5.0%
|
5.1%
|
4.5%
|
Average T1 capital3
|
57,069
|
56,690
|
51,823
|
Average UK leverage exposure
|
1,146,919
|
1,111,052
|
1,142,819
|
|
|
|
|
UK leverage ratio
|
5.3%
|
5.2%
|
5.1%
|
|
|
|
|
CET1 capital
|
46,296
|
45,509
|
40,813
|
AT1 capital
|
11,092
|
11,932
|
10,741
|
T1 capital3
|
57,388
|
57,441
|
51,554
|
|
|
|
|
UK leverage exposure
|
1,090,907
|
1,095,097
|
1,007,721
|
|
|
|
|
UK leverage exposure
|
|
|
|
Accounting assets
|
|
|
|
Derivative financial instruments
|
302,446
|
296,551
|
229,236
|
Derivative cash collateral
|
64,798
|
67,034
|
56,589
|
Securities financing transactions (SFTs)
|
164,034
|
178,736
|
111,307
|
Loans and advances and other assets
|
818,236
|
879,348
|
743,097
|
Total IFRS assets
|
1,349,514
|
1,421,669
|
1,140,229
|
|
|
|
|
Regulatory consolidation adjustments
|
(1,144)
|
(1,943)
|
(1,170)
|
|
|
|
|
Derivatives adjustments
|
|
|
|
Derivatives netting
|
(272,275)
|
(269,441)
|
(207,756)
|
Adjustments to cash collateral
|
(57,414)
|
(58,298)
|
(48,464)
|
Net written credit protection
|
14,986
|
15,890
|
13,784
|
Potential future exposure (PFE) on derivatives
|
117,010
|
122,426
|
119,118
|
Total derivatives adjustments
|
(197,693)
|
(189,423)
|
(123,318)
|
|
|
|
|
SFTs adjustments
|
21,114
|
20,274
|
18,339
|
|
|
|
|
Regulatory deductions and other adjustments
|
(17,469)
|
(18,011)
|
(11,984)
|
|
|
|
|
Weighted off-balance sheet commitments
|
113,704
|
110,749
|
105,289
|
|
|
|
|
Qualifying central bank claims
|
(155,890)
|
(205,451)
|
(119,664)
|
|
|
|
|
Settlement netting
|
(21,229)
|
(42,767)
|
-
|
|
|
|
|
UK leverage exposure
|
1,090,907
|
1,095,097
|
1,007,721
|
1
|
Fully loaded average UK leverage ratio
was 4.8%, with £54.6bn of T1 capital and £1,144bn of
leverage exposure. Fully loaded UK leverage ratio was 5.0%, with
£54.8bn of T1 capital and £1,088bn of leverage exposure.
Fully loaded UK leverage ratios are calculated without applying the
transitional arrangements of the CRR as amended by CRR
II.
|
2
|
Capital and leverage measures are
calculated applying the transitional arrangements of the CRR as
amended by CRR II.
|
3
|
T1 capital is calculated in line with
the PRA Handbook.
|
●
|
A
£52.7bn increase in SFTs and £75.1bn of loans advances
and other; partially offset by
|
●
|
A
£36.2bn decrease due to the exemption of qualifying central
bank claims; and
|
●
|
A
£21.2bn decrease due to the PRA’s adoption of CRR II
settlement netting
|
1
|
CRR leverage
ratio as amended by CRR II.
|
Own funds and
eligible liabilities ratios1,2
|
As a percentage of RWAs
|
|
As a percentage of CRR leverage exposure
|
||||
As at
31.12.20
|
As at
30.09.20
|
As at
31.12.19
|
|
As at
31.12.20
|
As at
30.09.20
|
As at
31.12.19
|
|
Total Barclays PLC (the Parent company) own funds and eligible
liabilities
|
32.7%
|
32.8%
|
31.2%
|
|
8.0%
|
7.8%
|
8.2%
|
Total own funds and eligible liabilities, including eligible
Barclays Bank PLC instruments3
|
33.6%
|
33.8%
|
32.8%
|
|
8.2%
|
8.0%
|
8.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Own funds and
eligible liabilities1,2
|
|
|
|
|
As at
31.12.20
|
As at
30.09.20
|
As at
31.12.19
|
|
|
|
|
|
£m
|
£m
|
£m
|
CET1 capital
|
|
46,296
|
45,509
|
40,813
|
|||
AT1 capital instruments and related share premium
accounts4
|
|
11,092
|
11,932
|
10,741
|
|||
T2 capital instruments and related share premium
accounts4
|
|
7,733
|
9,327
|
7,416
|
|||
Eligible liabilities
|
|
35,086
|
35,209
|
33,025
|
|||
Total Barclays PLC (the Parent company) own funds and eligible
liabilities
|
|
100,207
|
101,977
|
91,995
|
|||
Qualifying AT1 capital (including minority interests) issued by
subsidiaries
|
|
646
|
622
|
687
|
|||
Qualifying T2 capital (including minority interests) issued by
subsidiaries
|
|
1,893
|
2,516
|
3,984
|
|||
Total own funds and eligible liabilities, including eligible
Barclays Bank PLC instruments3
|
|
102,746
|
105,115
|
96,666
|
|||
|
|
|
|
|
|
|
|
Total RWAs
|
|
306,203
|
310,727
|
295,131
|
|||
Total CRR leverage
exposure5
|
|
1,254,157
|
1,306,828
|
1,126,259
|
1
|
CET1, T1 and T2
capital, and RWAs are calculated applying the transitional
arrangements of the CRR as amended by CRR II. This includes IFRS 9
transitional arrangements and the grandfathering of CRR and CRR II
non-compliant capital instruments.
|
2
|
The BoE has set
external MREL based on the higher of RWAs and CRR or UK leverage
exposures which could result in the binding measure changing in
future periods. The 31 December 2020 Barclays PLC (the Parent
company) own funds and eligible liabilities ratio as a percentage
of the UK leverage exposure was 9.2% and as a percentage of the
average UK leverage exposure was 8.7%.
|
3
|
Own funds
instruments issued by subsidiaries will not be counted towards MREL
from 1 January 2022.
|
4
|
Includes other
AT1 capital regulatory adjustments and deductions of £80m
(December 2019: £130m), and other T2 credit risk adjustments
and deductions of £103m (December 2019:
£234m).
|
5
|
Fully loaded
CRR leverage exposure is calculated without applying the
transitional arrangements of the CRR as amended by CRR
II.
|
●
|
to the
best of their knowledge, the condensed consolidated financial
statements (set out on pages 54 to 58), which have been prepared in
accordance with international accounting standards in conformity
with the requirements of the Companies Act 2006 and international
financial reporting standards adopted pursuant to Regulation (EC)
No. 1606/2002 as it applies in the European Union, give a true and
fair view of the assets, liabilities, financial position and profit
or loss of the Company and the undertakings included in the
consolidation taken as a whole. The condensed consolidated
financial statements should be read in conjunction with the annual
financial statements as included in the Annual Report for the year
ended 31 December 2020; and
|
●
|
to the
best of their knowledge, the management information (set out on
pages 1 to 52) includes a fair review of the development and
performance of the business and the position of the Company and the
undertakings included in the consolidation taken as a whole,
together with a description of the principal risks and
uncertainties that they face. This management information should be
read in conjunction with the principal risks and uncertainties
included in the Annual Report for the year ended 31 December
2020.
|
James E Staley
|
Tushar Morzaria
|
Group
Chief Executive
|
Group
Finance Director
|
Chairman
|
Executive Directors
|
Non-executive Directors
|
Nigel Higgins
|
James E Staley
|
Mike Ashley
|
|
Tushar Morzaria
|
Tim Breedon CBE
|
|
|
Sir Ian Cheshire
|
|
|
Mohamed A. El-Erian
|
|
|
Dawn Fitzpatrick
|
|
|
Mary Francis CBE
|
|
|
Crawford Gillies
|
|
|
Brian Gilvary
|
|
|
Diane Schueneman
|
Condensed consolidated income statement
|
|||
|
|
Year ended
|
Year ended
|
|
|
31.12.20
|
31.12.19
|
|
Notes1
|
£m
|
£m
|
Interest and similar income
|
|
11,892
|
15,456
|
Interest and similar expense
|
|
(3,770)
|
(6,049)
|
Net interest income
|
|
8,122
|
9,407
|
Fee and commission income
|
|
8,641
|
9,122
|
Fee and commission expense
|
|
(2,070)
|
(2,362)
|
Net fee and commission income
|
|
6,571
|
6,760
|
Net trading income
|
|
7,029
|
4,235
|
Net investment income
|
|
13
|
1,131
|
Other income
|
|
31
|
99
|
Total income
|
|
21,766
|
21,632
|
Credit impairment charges
|
|
(4,838)
|
(1,912)
|
Net operating income
|
|
16,928
|
19,720
|
|
|
|
|
Staff costs
|
|
(8,097)
|
(8,315)
|
Infrastructure, administration and general expenses
|
|
(5,636)
|
(5,270)
|
Litigation and conduct
|
|
(153)
|
(1,849)
|
Operating expenses
|
|
(13,886)
|
(15,434)
|
|
|
|
|
Share of post-tax results of associates and joint
ventures
|
|
6
|
61
|
Profit on disposal of subsidiaries, associates and joint
ventures
|
|
17
|
10
|
Profit before tax
|
|
3,065
|
4,357
|
Tax charge
|
1
|
(604)
|
(1,003)
|
Profit after tax
|
|
2,461
|
3,354
|
|
|
|
|
Attributable to:
|
|
|
|
Equity holders of the parent
|
|
1,526
|
2,461
|
Other equity instrument holders
|
|
857
|
813
|
Total equity holders of the parent
|
|
2,383
|
3,274
|
Non-controlling interests
|
2
|
78
|
80
|
Profit after tax
|
|
2,461
|
3,354
|
|
|
|
|
Earnings per share
|
|
p
|
p
|
Basic earnings per ordinary share
|
3
|
8.8
|
14.3
|
Diluted earnings per ordinary share
|
3
|
8.6
|
14.1
|
1
|
For notes to
the Financial Statements see pages 59 to 64.
|
Condensed consolidated statement of comprehensive
income
|
|||
|
|
|
|
|
|
Year ended
|
Year ended
|
|
|
31.12.20
|
31.12.19
|
|
Notes1
|
£m
|
£m
|
Profit after tax
|
|
2,461
|
3,354
|
|
|
|
|
Other comprehensive income/(loss) that
may be recycled to profit or loss:2
|
|
|
|
Currency translation reserve
|
11
|
(473)
|
(544)
|
Fair value through other comprehensive income reserve relating to
debt securities
|
11
|
454
|
166
|
Cash flow hedging reserve
|
11
|
573
|
342
|
Other
|
11
|
5
|
16
|
Other comprehensive income/(loss) that may be recycled to profit or
loss
|
|
559
|
(20)
|
|
|
|
|
Other comprehensive income/(loss) not
recycled to profit or loss:2
|
|
|
|
Retirement benefit remeasurements
|
8
|
(111)
|
(194)
|
Fair value through other comprehensive income reserve relating to
equity instruments
|
11
|
(262)
|
(95)
|
Own credit
|
11
|
(581)
|
(252)
|
Other comprehensive income/(loss) not recycled to profit or
loss
|
|
(954)
|
(541)
|
|
|
|
|
Other comprehensive income/(loss) for the period
|
|
(395)
|
(561)
|
|
|
|
|
Total comprehensive income for the period
|
|
2,066
|
2,793
|
|
|
|
|
Attributable to:
|
|
|
|
Equity holders of the parent
|
|
1,988
|
2,713
|
Non-controlling interests
|
|
78
|
80
|
Total comprehensive income for the period
|
|
2,066
|
2,793
|
1
|
For notes to
the Financial Statements see pages 59 to 64.
|
2
|
Reported net of
tax.
|
Condensed consolidated balance sheet
|
|||
|
|
As at
|
As at
|
|
|
31.12.20
|
31.12.19
|
Assets
|
Notes1
|
£m
|
£m
|
Cash and balances at central banks
|
|
191,127
|
150,258
|
Cash collateral and settlement balances
|
|
101,367
|
83,256
|
Loans and advances at amortised cost
|
|
342,632
|
339,115
|
Reverse repurchase agreements and other similar secured
lending
|
|
9,031
|
3,379
|
Trading portfolio assets
|
|
127,950
|
114,195
|
Financial assets at fair value through the income
statement
|
|
175,151
|
133,086
|
Derivative financial instruments
|
|
302,446
|
229,236
|
Financial assets at fair value through other comprehensive
income
|
|
78,688
|
65,750
|
Investments in associates and joint ventures
|
|
781
|
721
|
Goodwill and intangible assets
|
|
7,948
|
8,119
|
Property, plant and equipment
|
|
4,036
|
4,215
|
Current tax assets
|
|
477
|
412
|
Deferred tax assets
|
1
|
3,444
|
3,290
|
Retirement benefit assets
|
8
|
1,814
|
2,108
|
Other assets
|
|
2,622
|
3,089
|
Total assets
|
|
1,349,514
|
1,140,229
|
|
|
|
|
Liabilities
|
|
|
|
Deposits at amortised cost
|
|
481,036
|
415,787
|
Cash collateral and settlement balances
|
|
85,423
|
67,341
|
Repurchase agreements and other similar secured
borrowing
|
|
14,174
|
14,517
|
Debt securities in issue
|
|
75,796
|
76,369
|
Subordinated liabilities
|
6
|
16,341
|
18,156
|
Trading portfolio liabilities
|
|
47,405
|
36,916
|
Financial liabilities designated at fair value
|
|
249,765
|
204,326
|
Derivative financial instruments
|
|
300,775
|
229,204
|
Current tax liabilities
|
|
645
|
313
|
Deferred tax liabilities
|
1
|
15
|
23
|
Retirement benefit liabilities
|
8
|
291
|
348
|
Other liabilities
|
|
8,662
|
8,505
|
Provisions
|
7
|
2,304
|
2,764
|
Total liabilities
|
|
1,282,632
|
1,074,569
|
|
|
|
|
Equity
|
|
|
|
Called up share capital and share premium
|
9
|
4,637
|
4,594
|
Other reserves
|
11
|
4,461
|
4,760
|
Retained earnings
|
|
45,527
|
44,204
|
Shareholders' equity attributable to ordinary shareholders of the
parent
|
|
54,625
|
53,558
|
Other equity instruments
|
10
|
11,172
|
10,871
|
Total equity excluding non-controlling interests
|
|
65,797
|
64,429
|
Non-controlling interests
|
2
|
1,085
|
1,231
|
Total equity
|
|
66,882
|
65,660
|
|
|
|
|
Total liabilities and equity
|
|
1,349,514
|
1,140,229
|
1
|
For notes to
the Financial Statements see pages 59 to 64.
|
Condensed consolidated statement of changes in equity
|
|||||||
|
Called up share capital and share
premium1
|
Other equity
instruments1
|
Other reserves1
|
Retained earnings
|
Total
|
Non-controlling
interests2
|
Total equity
|
Year ended 31.12.20
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Balance as at 1 January 2020
|
4,594
|
10,871
|
4,760
|
44,204
|
64,429
|
1,231
|
65,660
|
Profit after tax
|
-
|
857
|
-
|
1,526
|
2,383
|
78
|
2,461
|
Retirement benefit remeasurements
|
-
|
-
|
-
|
(111)
|
(111)
|
-
|
(111)
|
Other comprehensive profit after tax for the year
|
-
|
-
|
(289)
|
5
|
(284)
|
-
|
(284)
|
Total comprehensive income for the period
|
-
|
857
|
(289)
|
1,420
|
1,988
|
78
|
2,066
|
Equity settled share schemes and hedges thereof
|
43
|
-
|
-
|
303
|
346
|
-
|
346
|
Issue and exchange of other equity instruments
|
-
|
311
|
-
|
(55)
|
256
|
(158)
|
98
|
Other equity instruments coupons paid
|
-
|
(857)
|
-
|
-
|
(857)
|
-
|
(857)
|
Vesting of shares under employee share schemes
|
-
|
-
|
(10)
|
(347)
|
(357)
|
-
|
(357)
|
Dividends paid
|
-
|
-
|
-
|
-
|
-
|
(79)
|
(79)
|
Other movements
|
-
|
(10)
|
-
|
2
|
(8)
|
13
|
5
|
Balance as at 31 December 2020
|
4,637
|
11,172
|
4,461
|
45,527
|
65,797
|
1,085
|
66,882
|
|
|
|
|
|
|
|
|
Year ended 31.12.19
|
|
|
|
|
|
|
|
Balance as at 1 January 2019
|
4,311
|
9,632
|
5,153
|
43,460
|
62,556
|
1,223
|
63,779
|
Profit after tax
|
-
|
813
|
-
|
2,461
|
3,274
|
80
|
3,354
|
Other comprehensive profit after tax for the year
|
-
|
-
|
(383)
|
(178)
|
(561)
|
-
|
(561)
|
Total comprehensive income for the period
|
-
|
813
|
(383)
|
2,283
|
2,713
|
80
|
2,793
|
Issue of new ordinary shares
|
182
|
-
|
-
|
-
|
182
|
-
|
182
|
Equity settled share schemes
|
101
|
-
|
-
|
478
|
579
|
-
|
579
|
Issue and exchange of other equity instruments
|
-
|
1,238
|
-
|
(406)
|
832
|
-
|
832
|
Other equity instruments coupons paid
|
-
|
(813)
|
-
|
-
|
(813)
|
-
|
(813)
|
Vesting of shares under employee share schemes
|
-
|
-
|
(10)
|
(404)
|
(414)
|
-
|
(414)
|
Dividends paid
|
-
|
-
|
-
|
(1,201)
|
(1,201)
|
(80)
|
(1,281)
|
Other movements
|
-
|
1
|
-
|
(6)
|
(5)
|
8
|
3
|
Balance as at 31 December 2019
|
4,594
|
10,871
|
4,760
|
44,204
|
64,429
|
1,231
|
65,660
|
1
|
Details of
share capital, other equity instruments and other reserves are
shown on pages 63 to 64.
|
2
|
Details of
non-controlling interests are shown on page 59.
|
Condensed consolidated cash flow statement
|
|
|
|
Year ended
|
Year ended
|
|
31.12.20
|
31.12.19
|
|
£m
|
£m
|
Profit before tax
|
3,065
|
4,357
|
Adjustment for non-cash items
|
5,007
|
5,495
|
Net increase in loans and advances at amortised
cost1
|
(4,365)
|
(2,255)
|
Net increase in deposits at amortised cost
|
65,249
|
20,949
|
Net decrease in debt securities in issue
|
(6,309)
|
(9,911)
|
Changes in other operating assets and
liabilities2
|
(4,459)
|
(18,909)
|
Corporate income tax paid
|
(683)
|
(228)
|
Net cash from operating
activities1
|
57,505
|
(502)
|
Net cash from investing activities1
|
(18,376)
|
(23,965)
|
Net cash from financing activities
|
2,732
|
690
|
Effect of exchange rates on cash and cash equivalents
|
1,668
|
(3,347)
|
Net increase/(decrease) in cash and
cash equivalents2
|
43,529
|
(27,124)
|
Cash and cash equivalents at beginning of the
period2
|
166,613
|
193,737
|
Cash and cash equivalents at end of
the period2
|
210,142
|
166,613
|
1
|
Movements in
cash and cash equivalents relating to debt securities at amortised
cost were previously shown within loans and advances to banks and
customers in operating activities. These debt securities
holdings are part of the Group’s investing activity and have
been presented within investing activities in 2020. Comparatives
have been re-presented. The effect of this change was to reclassify
£11,139m decrease in cash and cash equivalents from operating
activities to investing activities in 2019.
|
2
|
Cash collateral
and settlement balances with banks with original maturity less than
three months were previously included in cash and cash equivalents.
They are no longer included, with the exception of balances that
the Group holds at central banks related to payment schemes.
Comparatives have been re-presented. The effect of this change
decreased cash and cash equivalents by £16,774m as at 31
December 2019.
|
|
As at
|
As at
|
|
31.12.20
|
31.12.19
|
Deferred tax assets and liabilities
|
£m
|
£m
|
USA
|
2,049
|
2,052
|
UK
|
886
|
818
|
Other territories
|
509
|
420
|
Deferred tax assets
|
3,444
|
3,290
|
Deferred tax liabilities
|
(15)
|
(23)
|
|
|
|
Analysis of deferred tax assets
|
|
|
Temporary differences
|
2,709
|
2,767
|
Tax losses
|
735
|
523
|
Deferred tax assets
|
3,444
|
3,290
|
|
Profit attributable to
non-controlling interests
|
|
Equity attributable to
non-controlling interests
|
||
|
Year ended
|
Year ended
|
|
As at
|
As at
|
|
31.12.20
|
31.12.19
|
|
31.12.20
|
31.12.19
|
|
£m
|
£m
|
|
£m
|
£m
|
Barclays Bank PLC issued:
|
|
|
|
|
|
- Preference shares
|
42
|
41
|
|
529
|
529
|
- Upper T2 instruments
|
37
|
39
|
|
533
|
691
|
Other non-controlling interests
|
(1)
|
-
|
|
23
|
11
|
Total
|
78
|
80
|
|
1,085
|
1,231
|
|
Year ended
|
Year ended
|
|
31.12.20
|
31.12.19
|
|
£m
|
£m
|
Profit attributable to ordinary equity holders of the
parent
|
1,526
|
2,461
|
|
|
|
|
m
|
m
|
Basic weighted average number of shares in issue
|
17,300
|
17,200
|
Number of potential ordinary shares
|
368
|
282
|
Diluted weighted average number of shares
|
17,668
|
17,482
|
|
|
|
|
p
|
p
|
Basic earnings per ordinary share
|
8.8
|
14.3
|
Diluted earnings per ordinary share
|
8.6
|
14.1
|
|
Year ended 31.12.20
|
Year ended 31.12.19
|
||
|
Per share
|
Total
|
Per share
|
Total
|
Dividends paid during the year
|
p
|
£m
|
p
|
£m
|
Full year dividend paid during year
|
-
|
-
|
4.0
|
684
|
Half year dividend paid during year
|
-
|
-
|
3.0
|
517
|
Total dividend
|
-
|
-
|
7.0
|
1,201
|
|
Valuation technique using
|
|
|
||
|
Quoted market prices
|
Observable inputs
|
Significant unobservable inputs
|
|
|
|
(Level 1)
|
(Level 2)
|
(Level 3)
|
|
Total
|
As at 31.12.20
|
£m
|
£m
|
£m
|
|
£m
|
Trading portfolio assets
|
60,671
|
65,416
|
1,863
|
|
127,950
|
Financial assets at fair value through the income
statement
|
4,503
|
162,142
|
8,506
|
|
175,151
|
Derivative financial instruments
|
9,155
|
288,822
|
4,469
|
|
302,446
|
Financial assets at fair value through other comprehensive
income
|
19,792
|
58,743
|
153
|
|
78,688
|
Investment property
|
-
|
-
|
10
|
|
10
|
Total assets
|
94,121
|
575,123
|
15,001
|
|
684,245
|
|
|
|
|
|
|
Trading portfolio liabilities
|
(24,391)
|
(22,986)
|
(28)
|
|
(47,405)
|
Financial liabilities designated at fair value
|
(159)
|
(249,251)
|
(355)
|
|
(249,765)
|
Derivative financial instruments
|
(8,762)
|
(285,774)
|
(6,239)
|
|
(300,775)
|
Total liabilities
|
(33,312)
|
(558,011)
|
(6,622)
|
|
(597,945)
|
|
|
|
|
|
|
As at 31.12.19
|
|
|
|
|
|
Trading portfolio assets
|
60,352
|
51,579
|
2,264
|
|
114,195
|
Financial assets at fair value through the income
statement
|
10,445
|
114,141
|
8,500
|
|
133,086
|
Derivative financial instruments
|
5,439
|
220,642
|
3,155
|
|
229,236
|
Financial assets at fair value through other comprehensive
income
|
18,755
|
46,566
|
429
|
|
65,750
|
Investment property
|
-
|
-
|
13
|
|
13
|
Total assets
|
94,991
|
432,928
|
14,361
|
|
542,280
|
|
|
|
|
|
|
Trading portfolio liabilities
|
(20,977)
|
(15,939)
|
-
|
|
(36,916)
|
Financial liabilities designated at fair value
|
(82)
|
(203,882)
|
(362)
|
|
(204,326)
|
Derivative financial instruments
|
(5,305)
|
(219,910)
|
(3,989)
|
|
(229,204)
|
Total liabilities
|
(26,364)
|
(439,731)
|
(4,351)
|
|
(470,446)
|
6. Subordinated liabilities
|
||
|
Year ended
|
Year ended
|
|
31.12.20
|
31.12.19
|
|
£m
|
£m
|
Opening balance as at 1 January
|
18,156
|
20,559
|
Issuances
|
1,438
|
1,352
|
Redemptions
|
(3,464)
|
(3,248)
|
Other
|
211
|
(507)
|
Closing balance
|
16,341
|
18,156
|
7. Provisions
|
|
|
|
As at
|
As at
|
|
31.12.20
|
31.12.19
|
|
£m
|
£m
|
PPI redress
|
129
|
1,155
|
Other customer redress
|
368
|
420
|
Legal, competition and regulatory matters
|
268
|
376
|
Redundancy and restructuring
|
158
|
143
|
Undrawn contractually committed facilities and
guarantees
|
1,064
|
322
|
Onerous contracts
|
28
|
42
|
Sundry provisions
|
289
|
306
|
Total
|
2,304
|
2,764
|
|
Ordinary share capital
|
Share premium
|
Total share capital and share premium
|
Year ended 31.12.20
|
£m
|
£m
|
£m
|
Opening balance as at 1 January
|
4,331
|
263
|
4,594
|
Movement
|
9
|
34
|
43
|
Closing balance
|
4,340
|
297
|
4,637
|
10. Other equity instruments
|
||
|
Year ended
|
Year ended
|
|
31.12.20
|
31.12.19
|
|
£m
|
£m
|
Opening balance as at 1 January
|
10,871
|
9,632
|
Issuances
|
1,142
|
3,500
|
Redemptions
|
(831)
|
(2,262)
|
Other
|
(10)
|
1
|
Closing balance
|
11,172
|
10,871
|
11. Other reserves
|
|
|
|
As at
|
As at
|
|
31.12.20
|
31.12.19
|
|
£m
|
£m
|
Currency translation reserve
|
2,871
|
3,344
|
Fair value through other comprehensive income reserve
|
5
|
(187)
|
Cash flow hedging reserve
|
1,575
|
1,002
|
Own credit reserve
|
(954)
|
(373)
|
Other reserves and treasury shares
|
964
|
974
|
Total
|
4,461
|
4,760
|
Measure
|
Definition
|
Loan:
deposit ratio
|
Loans
and advances at amortised cost divided by deposits at amortised
cost. The components of the calculation have been included on page
43.
|
Period
end allocated tangible equity
|
Allocated tangible
equity is calculated as 13.0% (2019: 13.0%) of RWAs for each
business, adjusted for capital deductions, excluding goodwill and
intangible assets, reflecting the assumptions the Group uses for
capital planning purposes. Head Office allocated tangible equity
represents the difference between the Group’s tangible
shareholders’ equity and the amounts allocated to
businesses.
|
Average
tangible shareholders’ equity
|
Calculated as the
average of the previous month’s period end tangible equity
and the current month’s period end tangible equity. The
average tangible shareholders’ equity for the period is the
average of the monthly averages within that period.
|
Average
allocated tangible equity
|
Calculated as the
average of the previous month’s period end allocated tangible
equity and the current month’s period end allocated tangible
equity. The average allocated tangible equity for the period is the
average of the monthly averages within that period.
|
Return
on average tangible shareholders’ equity
|
Statutory profit
after tax attributable to ordinary equity holders of the parent, as
a proportion of average shareholders’ equity excluding
non-controlling interests and other equity instruments adjusted for
the deduction of intangible assets and goodwill. The components of
the calculation have been included on page 66.
|
Return
on average allocated tangible equity
|
Statutory profit
after tax attributable to ordinary equity holders of the parent, as
a proportion of average allocated tangible equity. The components
of the calculation have been included on page 66.
|
Cost:
income ratio
|
Total
operating expenses divided by total income.
|
Loan
loss rate
|
Quoted
in basis points and represents total impairment charges divided by
gross loans and advances held at amortised cost at the balance
sheet date. The components of the calculation have been included on
page 27.
|
Net
interest margin
|
Net
interest income divided by the sum of average customer assets. The
components of the calculation have been included on page
23.
|
Tangible net asset
value per share
|
Calculated by
dividing shareholders’ equity, excluding non-controlling
interests and other equity instruments, less goodwill and
intangible assets, by the number of issued ordinary shares. The
components of the calculation have been included on page
74.
|
Performance
measures excluding litigation and conduct
|
Calculated by
excluding litigation and conduct charges from performance measures.
The components of the calculations have been included on pages 67
to 74.
|
Pre-provision
profits
|
Calculated by
excluding credit impairment charges from profit before tax. The
components of the calculation have been included on pages 67 to
69.
|
Pre-provision
profits excluding litigation and conduct
|
Calculated by
excluding credit impairment charges, and litigation and conduct
charges from profit before tax. The components of the calculation
have been included on pages 67 to 69.
|
|
Profit/(loss) attributable to ordinary equity holders of the
parent
|
|
Average tangible equity
|
|
Return on average tangible equity
|
For the year ended 31.12.20
|
£m
|
|
£bn
|
|
%
|
Barclays UK
|
325
|
|
10.1
|
|
3.2
|
Corporate and Investment Bank
|
2,554
|
|
27.0
|
|
9.5
|
Consumer, Cards and Payments
|
(334)
|
|
4.5
|
|
(7.5)
|
Barclays International
|
2,220
|
|
31.5
|
|
7.1
|
Head Office
|
(1,019)
|
|
6.7
|
|
n/m
|
Barclays Group
|
1,526
|
|
48.3
|
|
3.2
|
|
|
|
|
|
|
For the year ended 31.12.19
|
|
|
|
|
|
Barclays UK
|
281
|
|
10.3
|
|
2.7
|
Corporate and Investment Bank
|
1,980
|
|
25.9
|
|
7.6
|
Consumer, Cards and Payments
|
836
|
|
5.3
|
|
15.8
|
Barclays International
|
2,816
|
|
31.2
|
|
9.0
|
Head Office
|
(636)
|
|
5.1
|
|
n/m
|
Barclays Group
|
2,461
|
|
46.6
|
|
5.3
|
Performance measures excluding litigation and conduct
|
||||||
|
|
|
|
|
|
|
|
Year ended 31.12.20
|
|||||
|
Barclays UK
|
Corporate and Investment Bank
|
Consumer, Cards and Payments
|
Barclays International
|
Head Office
|
Barclays Group
|
Cost: income ratio
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Total operating expenses
|
(4,352)
|
(6,919)
|
(2,134)
|
(9,053)
|
(481)
|
(13,886)
|
Impact of litigation and conduct
|
32
|
4
|
44
|
48
|
73
|
153
|
Operating expenses
|
(4,320)
|
(6,915)
|
(2,090)
|
(9,005)
|
(408)
|
(13,733)
|
|
|
|
|
|
|
|
Total income
|
6,347
|
12,476
|
3,445
|
15,921
|
(502)
|
21,766
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
68%
|
55%
|
61%
|
57%
|
n/m
|
63%
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
Profit/(loss) before tax
|
546
|
4,004
|
(388)
|
3,616
|
(1,097)
|
3,065
|
Impact of litigation and conduct
|
32
|
4
|
44
|
48
|
73
|
153
|
Profit/(loss) before tax excluding litigation and
conduct
|
578
|
4,008
|
(344)
|
3,664
|
(1,024)
|
3,218
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
Attributable profit/(loss)
|
325
|
2,554
|
(334)
|
2,220
|
(1,019)
|
1,526
|
Post-tax impact of litigation and conduct
|
18
|
2
|
36
|
38
|
56
|
112
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
343
|
2,556
|
(298)
|
2,258
|
(963)
|
1,638
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Average shareholders' equity
|
13.7
|
27.0
|
5.1
|
32.1
|
10.6
|
56.4
|
Average goodwill and intangibles
|
(3.6)
|
-
|
(0.6)
|
(0.6)
|
(3.9)
|
(8.1)
|
Average tangible shareholders' equity
|
10.1
|
27.0
|
4.5
|
31.5
|
6.7
|
48.3
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity excluding
litigation and conduct
|
3.4%
|
9.5%
|
(6.7%)
|
7.2%
|
n/m
|
3.4%
|
|
|
|
|
|
|
|
Basic earnings per ordinary share
|
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
|
|
|
|
|
17,300
|
|
|
|
|
|
|
|
Basic earnings per ordinary share excluding litigation and
conduct
|
|
|
|
|
|
9.5p
|
|
|
|
|
|
|
|
Pre-provision profits
|
||||||
|
|
|
|
|
|
|
Profit before tax excluding credit impairment charges and
litigation and conduct
|
|
|
|
|
|
£m
|
Profit before tax
|
|
|
|
|
|
3,065
|
Impact of credit impairment charges
|
|
|
|
|
|
4,838
|
Profit before tax excluding credit impairment charges
|
|
|
|
|
|
7,903
|
Impact of litigation and conduct
|
|
|
|
|
|
153
|
Profit before tax excluding credit impairment charges and
litigation and conduct
|
|
|
|
|
|
8,056
|
|
Year ended 31.12.19
|
|||||
|
Barclays UK
|
Corporate and Investment Bank
|
Consumer, Cards and Payments
|
Barclays International
|
Head Office
|
Barclays Group
|
Cost: income ratio
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Total operating expenses
|
(5,619)
|
(7,147)
|
(2,306)
|
(9,453)
|
(362)
|
(15,434)
|
Impact of litigation and conduct
|
1,582
|
109
|
7
|
116
|
151
|
1,849
|
Operating expenses
|
(4,037)
|
(7,038)
|
(2,299)
|
(9,337)
|
(211)
|
(13,585)
|
|
|
|
|
|
|
|
Total income
|
7,353
|
10,231
|
4,444
|
14,675
|
(396)
|
21,632
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
55%
|
69%
|
52%
|
64%
|
n/m
|
63%
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
Profit/(loss) before tax
|
1,022
|
2,955
|
1,163
|
4,118
|
(783)
|
4,357
|
Impact of litigation and conduct
|
1,582
|
109
|
7
|
116
|
151
|
1,849
|
Profit/(loss) before tax excluding litigation and
conduct
|
2,604
|
3,064
|
1,170
|
4,234
|
(632)
|
6,206
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
Attributable profit/(loss)
|
281
|
1,980
|
836
|
2,816
|
(636)
|
2,461
|
Post-tax impact of litigation and conduct
|
1,532
|
84
|
6
|
90
|
111
|
1,733
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
1,813
|
2,064
|
842
|
2,906
|
(525)
|
4,194
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Average shareholders' equity
|
13.9
|
25.9
|
6.3
|
32.2
|
8.5
|
54.6
|
Average goodwill and intangibles
|
(3.6)
|
-
|
(1.0)
|
(1.0)
|
(3.4)
|
(8.0)
|
Average tangible shareholders' equity
|
10.3
|
25.9
|
5.3
|
31.2
|
5.1
|
46.6
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity excluding
litigation and conduct
|
17.5%
|
8.0%
|
15.9%
|
9.3%
|
n/m
|
9.0%
|
|
|
|
|
|
|
|
Basic earnings per ordinary share
|
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
|
|
|
|
|
17,200
|
|
|
|
|
|
|
|
Basic earnings per ordinary share excluding litigation and
conduct
|
|
|
|
|
|
24.4p
|
|
|
|
|
|
|
|
Pre-provision profits
|
||||||
|
|
|
|
|
|
|
Profit before tax excluding credit impairment charges and
litigation and conduct
|
|
|
|
|
|
£m
|
Profit before tax
|
|
|
|
|
|
4,357
|
Impact of credit impairment charges
|
|
|
|
|
|
1,912
|
Profit before tax excluding credit impairment charges
|
|
|
|
|
|
6,269
|
Impact of litigation and conduct
|
|
|
|
|
|
1,849
|
Profit before tax excluding credit impairment charges and
litigation and conduct
|
|
|
|
|
|
8,118
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
Q420
|
Q320
|
Q220
|
Q120
|
|
Q419
|
Q319
|
Q219
|
Q119
|
Cost: income ratio
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Total operating expenses
|
(3,826)
|
(3,467)
|
(3,330)
|
(3,263)
|
|
(3,701)
|
(4,861)
|
(3,554)
|
(3,318)
|
Impact of litigation and conduct
|
47
|
76
|
20
|
10
|
|
167
|
1,568
|
53
|
61
|
Operating expenses
|
(3,779)
|
(3,391)
|
(3,310)
|
(3,253)
|
|
(3,534)
|
(3,293)
|
(3,501)
|
(3,257)
|
|
|
|
|
|
|
|
|
|
|
Total income
|
4,941
|
5,204
|
5,338
|
6,283
|
|
5,301
|
5,541
|
5,538
|
5,252
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
76%
|
65%
|
62%
|
52%
|
|
67%
|
59%
|
63%
|
62%
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
646
|
1,147
|
359
|
913
|
|
1,097
|
246
|
1,531
|
1,483
|
Impact of litigation and conduct
|
47
|
76
|
20
|
10
|
|
167
|
1,568
|
53
|
61
|
Profit before tax excluding litigation and conduct
|
693
|
1,223
|
379
|
923
|
|
1,264
|
1,814
|
1,584
|
1,544
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
220
|
611
|
90
|
605
|
|
681
|
(292)
|
1,034
|
1,038
|
Post-tax impact of litigation and conduct
|
40
|
57
|
16
|
(1)
|
|
122
|
1,525
|
40
|
46
|
Profit attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
260
|
668
|
106
|
604
|
|
803
|
1,233
|
1,074
|
1,084
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average shareholders' equity
|
55.7
|
56.4
|
58.4
|
55.2
|
|
54.5
|
56.4
|
54.0
|
53.2
|
Average goodwill and intangibles
|
(8.1)
|
(8.1)
|
(8.2)
|
(8.2)
|
|
(8.1)
|
(8.0)
|
(7.8)
|
(8.0)
|
Average tangible shareholders' equity
|
47.6
|
48.3
|
50.2
|
47.0
|
|
46.4
|
48.4
|
46.2
|
45.2
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity excluding
litigation and conduct
|
2.2%
|
5.5%
|
0.8%
|
5.1%
|
|
6.9%
|
10.2%
|
9.3%
|
9.6%
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per ordinary share
|
|
|
|
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
17,300
|
17,298
|
17,294
|
17,278
|
|
17,200
|
17,192
|
17,178
|
17,111
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per ordinary share excluding litigation and
conduct
|
1.5p
|
3.9p
|
0.6p
|
3.5p
|
|
4.7p
|
7.2p
|
6.3p
|
6.3p
|
|
|
|
|
|
|
|
|
|
|
Pre-provision profits
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax excluding credit impairment charges and
litigation and conduct
|
Q420
|
Q320
|
Q220
|
Q120
|
|
Q419
|
Q319
|
Q219
|
Q119
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Profit before tax
|
646
|
1,147
|
359
|
913
|
|
1,097
|
246
|
1,531
|
1,483
|
Impact of credit impairment charges
|
492
|
608
|
1,623
|
2,115
|
|
523
|
461
|
480
|
448
|
Profit before tax excluding credit impairment charges
|
1,138
|
1,755
|
1,982
|
3,028
|
|
1,620
|
707
|
2,011
|
1,931
|
Impact of litigation and conduct
|
47
|
76
|
20
|
10
|
|
167
|
1,568
|
53
|
61
|
Profit before tax excluding credit impairment charges and
litigation and conduct
|
1,185
|
1,831
|
2,002
|
3,038
|
|
1,787
|
2,275
|
2,064
|
1,992
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
Q420
|
Q320
|
Q220
|
Q120
|
|
Q419
|
Q319
|
Q219
|
Q119
|
Cost: income ratio
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Total operating expenses
|
(1,180)
|
(1,120)
|
(1,024)
|
(1,028)
|
|
(1,122)
|
(2,432)
|
(1,063)
|
(1,002)
|
Impact of litigation and conduct
|
(4)
|
25
|
6
|
5
|
|
58
|
1,480
|
41
|
3
|
Operating expenses
|
(1,184)
|
(1,095)
|
(1,018)
|
(1,023)
|
|
(1,064)
|
(952)
|
(1,022)
|
(999)
|
|
|
|
|
|
|
|
|
|
|
Total income
|
1,626
|
1,550
|
1,467
|
1,704
|
|
1,959
|
1,846
|
1,771
|
1,777
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
73%
|
71%
|
69%
|
60%
|
|
54%
|
52%
|
58%
|
56%
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
Profit/(loss) before tax
|
282
|
196
|
(127)
|
195
|
|
647
|
(687)
|
477
|
585
|
Impact of litigation and conduct
|
(4)
|
25
|
6
|
5
|
|
58
|
1,480
|
41
|
3
|
Profit/(loss) before tax excluding litigation and
conduct
|
278
|
221
|
(121)
|
200
|
|
705
|
793
|
518
|
588
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
160
|
113
|
(123)
|
175
|
|
438
|
(907)
|
328
|
422
|
Post-tax impact of litigation and conduct
|
(7)
|
17
|
5
|
3
|
|
43
|
1,457
|
30
|
2
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
153
|
130
|
(118)
|
178
|
|
481
|
550
|
358
|
424
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
13.4
|
13.7
|
13.9
|
13.7
|
|
13.8
|
13.9
|
13.8
|
13.9
|
Average goodwill and intangibles
|
(3.6)
|
(3.6)
|
(3.6)
|
(3.6)
|
|
(3.5)
|
(3.5)
|
(3.5)
|
(3.5)
|
Average allocated tangible equity
|
9.8
|
10.1
|
10.3
|
10.1
|
|
10.3
|
10.4
|
10.3
|
10.4
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
6.2%
|
5.2%
|
(4.6%)
|
7.0%
|
|
18.7%
|
21.2%
|
13.9%
|
16.4%
|
Barclays International
|
|
|
|
|
|
|
|
|
|
|
Q420
|
Q320
|
Q220
|
Q120
|
|
Q419
|
Q319
|
Q219
|
Q119
|
Cost: income ratio
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Total operating expenses
|
(2,382)
|
(2,255)
|
(2,197)
|
(2,219)
|
|
(2,500)
|
(2,282)
|
(2,446)
|
(2,225)
|
Impact of litigation and conduct
|
9
|
28
|
11
|
-
|
|
86
|
-
|
11
|
19
|
Operating expenses
|
(2,373)
|
(2,227)
|
(2,186)
|
(2,219)
|
|
(2,414)
|
(2,282)
|
(2,435)
|
(2,206)
|
|
|
|
|
|
|
|
|
|
|
Total income
|
3,486
|
3,781
|
4,010
|
4,644
|
|
3,452
|
3,750
|
3,903
|
3,570
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
68%
|
59%
|
55%
|
48%
|
|
70%
|
61%
|
62%
|
62%
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
822
|
1,165
|
807
|
822
|
|
640
|
1,137
|
1,223
|
1,118
|
Impact of litigation and conduct
|
9
|
28
|
11
|
-
|
|
86
|
-
|
11
|
19
|
Profit before tax excluding litigation and conduct
|
831
|
1,193
|
818
|
822
|
|
726
|
1,137
|
1,234
|
1,137
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
Attributable profit
|
441
|
782
|
468
|
529
|
|
397
|
799
|
832
|
788
|
Post-tax impact of litigation and conduct
|
9
|
21
|
8
|
-
|
|
64
|
2
|
8
|
16
|
Profit attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
450
|
803
|
476
|
529
|
|
461
|
801
|
840
|
804
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
31.1
|
31.2
|
34.2
|
31.9
|
|
31.9
|
33.3
|
32.1
|
31.6
|
Average goodwill and intangibles
|
(0.6)
|
(0.6)
|
(0.7)
|
(0.7)
|
|
(1.0)
|
(1.1)
|
(1.0)
|
(1.1)
|
Average allocated tangible equity
|
30.5
|
30.6
|
33.5
|
31.2
|
|
30.9
|
32.2
|
31.1
|
30.5
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
5.9%
|
10.5%
|
5.7%
|
6.8%
|
|
6.0%
|
10.0%
|
10.8%
|
10.6%
|
Corporate and Investment Bank
|
|||||||||
|
Q420
|
Q320
|
Q220
|
Q120
|
|
Q419
|
Q319
|
Q219
|
Q119
|
Cost: income ratio
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Total operating expenses
|
(1,827)
|
(1,719)
|
(1,683)
|
(1,690)
|
|
(1,926)
|
(1,716)
|
(1,867)
|
(1,638)
|
Impact of litigation and conduct
|
(2)
|
3
|
3
|
-
|
|
79
|
4
|
7
|
19
|
Operating expenses
|
(1,829)
|
(1,716)
|
(1,680)
|
(1,690)
|
|
(1,847)
|
(1,712)
|
(1,860)
|
(1,619)
|
|
|
|
|
|
|
|
|
|
|
Total income
|
2,638
|
2,905
|
3,316
|
3,617
|
|
2,314
|
2,617
|
2,795
|
2,505
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
69%
|
59%
|
51%
|
47%
|
|
80%
|
65%
|
67%
|
65%
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
761
|
1,000
|
1,040
|
1,203
|
|
359
|
882
|
887
|
827
|
Impact of litigation and conduct
|
(2)
|
3
|
3
|
-
|
|
79
|
4
|
7
|
19
|
Profit before tax excluding litigation and conduct
|
759
|
1,003
|
1,043
|
1,203
|
|
438
|
886
|
894
|
846
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
Attributable profit
|
413
|
627
|
694
|
820
|
|
193
|
609
|
596
|
582
|
Post-tax impact of litigation and conduct
|
(2)
|
2
|
2
|
-
|
|
58
|
5
|
5
|
16
|
Profit attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
411
|
629
|
696
|
820
|
|
251
|
614
|
601
|
598
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
26.3
|
26.4
|
29.1
|
26.2
|
|
25.9
|
26.9
|
25.8
|
25.2
|
Average goodwill and intangibles
|
-
|
-
|
(0.1)
|
-
|
|
(0.1)
|
-
|
-
|
(0.1)
|
Average allocated tangible equity
|
26.3
|
26.4
|
29.0
|
26.2
|
|
25.8
|
26.9
|
25.8
|
25.1
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
6.2%
|
9.5%
|
9.6%
|
12.5%
|
|
3.9%
|
9.2%
|
9.3%
|
9.5%
|
Consumer, Cards and Payments
|
|||||||||
|
Q420
|
Q320
|
Q220
|
Q120
|
|
Q419
|
Q319
|
Q219
|
Q119
|
Cost: income ratio
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Total operating expenses
|
(555)
|
(536)
|
(514)
|
(529)
|
|
(574)
|
(566)
|
(579)
|
(587)
|
Impact of litigation and conduct
|
11
|
25
|
8
|
-
|
|
7
|
(4)
|
4
|
-
|
Operating expenses
|
(544)
|
(511)
|
(506)
|
(529)
|
|
(567)
|
(570)
|
(575)
|
(587)
|
|
|
|
|
|
|
|
|
|
|
Total income
|
848
|
876
|
694
|
1,027
|
|
1,138
|
1,133
|
1,108
|
1,065
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
64%
|
58%
|
73%
|
52%
|
|
50%
|
50%
|
52%
|
55%
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
Profit/(loss) before tax
|
61
|
165
|
(233)
|
(381)
|
|
281
|
255
|
336
|
291
|
Impact of litigation and conduct
|
11
|
25
|
8
|
-
|
|
7
|
(4)
|
4
|
-
|
Profit/(loss) before tax excluding litigation and
conduct
|
72
|
190
|
(225)
|
(381)
|
|
288
|
251
|
340
|
291
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
28
|
155
|
(226)
|
(291)
|
|
204
|
190
|
236
|
206
|
Post-tax impact of litigation and conduct
|
11
|
19
|
6
|
-
|
|
6
|
(3)
|
3
|
-
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
39
|
174
|
(220)
|
(291)
|
|
210
|
187
|
239
|
206
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
4.8
|
4.8
|
5.1
|
5.7
|
|
6.0
|
6.4
|
6.3
|
6.4
|
Average goodwill and intangibles
|
(0.6)
|
(0.6)
|
(0.6)
|
(0.7)
|
|
(0.9)
|
(1.1)
|
(1.0)
|
(1.0)
|
Average allocated tangible equity
|
4.2
|
4.2
|
4.5
|
5.0
|
|
5.1
|
5.3
|
5.3
|
5.4
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
3.8%
|
16.5%
|
(19.6%)
|
(23.5%)
|
|
16.3%
|
14.0%
|
18.0%
|
15.4%
|
Head Office
|
|
|
|
|
|
|
|
|
|
|
Q420
|
Q320
|
Q220
|
Q120
|
|
Q419
|
Q319
|
Q219
|
Q119
|
Profit before tax
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Loss before tax
|
(458)
|
(214)
|
(321)
|
(104)
|
|
(190)
|
(204)
|
(169)
|
(220)
|
Impact of litigation and conduct
|
42
|
23
|
3
|
5
|
|
23
|
88
|
1
|
39
|
Loss before tax excluding litigation and conduct
|
(416)
|
(191)
|
(318)
|
(99)
|
|
(167)
|
(116)
|
(168)
|
(181)
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
Attributable loss
|
(381)
|
(284)
|
(255)
|
(99)
|
|
(154)
|
(184)
|
(126)
|
(172)
|
Post-tax impact of litigation and conduct
|
38
|
19
|
3
|
(4)
|
|
15
|
66
|
2
|
28
|
Attributable loss excluding litigation and conduct
|
(343)
|
(265)
|
(252)
|
(103)
|
|
(139)
|
(118)
|
(124)
|
(144)
|
Tangible net asset value per share
|
As at
|
As at
|
|
31.12.20
|
31.12.19
|
|
£m
|
£m
|
Total equity excluding non-controlling interests
|
65,797
|
64,429
|
Other equity instruments
|
(11,172)
|
(10,871)
|
Goodwill and intangibles
|
(7,948)
|
(8,119)
|
Tangible shareholders' equity attributable to ordinary shareholders
of the parent
|
46,677
|
45,439
|
|
|
|
|
m
|
m
|
Shares in issue
|
17,359
|
17,322
|
|
|
|
|
p
|
p
|
Tangible net asset value per share
|
269
|
262
|
|
|
|
|
Results timetable1
|
|
Date
|
|
Ex-dividend date
|
|
25 February 2021
|
|
Dividend record date
|
|
26 February 2021
|
|
Cut off time of 5:00pm (UK time) for the receipt of DRIP
Application Form Mandate Forms or Revocation
|
12 March 2021
|
|
|
Dividend payment date
|
|
1 April 2021
|
|
Q1 2021 Results Announcement
|
|
30 April 2021
|
|
|
|
|
|
|
|
|
|
Barclays has decided to cease to offer the scrip dividend programme
and will no longer offer a scrip alternative for dividends. For
those shareholders who wish to elect to use their cash dividends to
purchase additional ordinary shares in the market, rather than
receive a cash payment, Barclays has arranged for its registrar,
Equiniti, to provide and administer a dividend re-investment plan
(DRIP). Further details regarding the DRIP can be found at
www.barclays.com and www.shareview.co.uk/info/drip
|
|||
|
|||
For qualifying US and Canadian resident ADR holders, the 2020 full
year dividend of 1.0p per ordinary share becomes 4.0p per ADS
(representing four shares). The ex-dividend, dividend record and
dividend payment dates for ADR holders are shown
above.
|
|
|
|
|
|
Year ended
|
Year ended
|
|
Exchange rates2
|
31.12.20
|
31.12.19
|
% Change3
|
Period end - USD/GBP
|
1.37
|
1.33
|
3%
|
Average - USD/GBP
|
1.28
|
1.28
|
-
|
3 month average - USD/GBP
|
1.32
|
1.29
|
2%
|
Period end - EUR/GBP
|
1.12
|
1.18
|
(5%)
|
Average - EUR/GBP
|
1.13
|
1.14
|
(1%)
|
3 month average - EUR/GBP
|
1.11
|
1.16
|
(4%)
|
|
|
|
|
Share price data
|
|
|
|
Barclays PLC (p)
|
146.68
|
179.64
|
|
Barclays PLC number of shares (m)
|
17,359
|
17,322
|
|
|
|
|
|
|
|
|
|
For further information please contact
|
|
|
|
|
|
|
|
Investor relations
|
Media relations
|
||
Chris Manners +44 (0) 20 7773 2136
|
Tom Hoskin +44 (0) 20 7116 4755
|
||
|
|
|
|
|
|
|
|
More information on Barclays can be found on our
website: home.barclays.
|
|
|
|
|
|
|
|
Registered office
|
|
|
|
1 Churchill Place, London, E14 5HP, United Kingdom. Tel: +44 (0) 20
7116 1000. Company number: 48839.
|
|||
|
|
|
|
Registrar
|
|
|
|
Equiniti, Aspect House, Spencer Road, Lancing, West Sussex, BN99
6DA, United Kingdom.
|
|||
Tel: 0371 384 20554
from the UK or +44 121 415 7004 from
overseas.
|
|||
|
|
|
|
American Depositary Receipts (ADRs)
|
|
|
|
Shareowner Services
|
|||
StockTransfer@equiniti.com
|
|||
Tel: +1 800 990 1135 (toll free in US and Canada), +1 651 453 2128
(outside the US and Canada)
|
|||
Shareowner Services, PO Box 64504, St Paul, MN 55164-0504,
USA.
|
|||
|
|
|
|
Delivery of ADR certificates and overnight mail
|
|
|
|
Shareowner Services, 1110 Centre Pointe Curve, Suite 101, Mendota
Heights, MN 55120, USA.
|
|||
|
|||
Qualifying US and Canadian resident ADR holders should contact
Shareowner Services for further details regarding the
DRIP
|
1
|
Note that these
dates are provisional and subject to change.
|
2
|
The average
rates shown above are derived from daily spot rates during the
year.
|
3
|
The change is
the impact to GBP reported information.
|
4
|
Lines open
8.30am to 5.30pm (UK time), Monday to Friday, excluding UK public
holidays in England and Wales.
|