|
BARCLAYS
PLC
|
|
(Registrant)
|
|
By: /s/
Garth Wright
--------------------------------
|
|
Garth
Wright
|
|
Assistant
Secretary
|
|
C. S. Venkatakrishnan, Group Chief Executive,
commented
"This is a strong first quarter with Group income up 11% to £7.2bn and profit before tax up
16% to £2.6bn, generating a Group RoTE of
15.0% and earnings per share
(EPS) of 11.3p. All three
businesses have performed well with high quality income growth and
double-digit returns. The momentum across the Group allows us to
maintain a robust capital position, deliver attractive returns to
shareholders, and support our customers and clients through an
uncertain economic environment."
|
|
Income
|
Cost: income ratio
|
LLR
|
Profit before tax
|
Attributable profit
|
RoTE
|
EPS
|
LCR
|
Loan: deposit ratio
|
TNAV per share
|
CET1 ratio
|
Q123
|
£7.2bn
|
57%
|
52bps
|
£2.6bn
|
£1.8bn
|
15.0%
|
11.3p
|
163%
|
73%
|
301p
|
13.6%
|
●
|
Group attributable profit was
£1.8bn and RoTE was 15.0%, with
all operating divisions delivering double-digit
returns
|
|
●
|
Group income was £7.2bn, up 11% year-on-year, with diverse
sources of growth across the Group as well as the benefit from USD
appreciation:
|
|
|
–
|
Barclays UK income increased 19% primarily driven by net
interest income growth from
higher rates and continued structural hedge income momentum, delivering a net interest margin (NIM) of
3.18%
|
|
–
|
Corporate and Investment Bank (CIB) income increased
1% to £4.0bn,
representing a record Q1 income performance1.
Drivers included a strong performance
in Transaction banking and Global Markets, against a record prior
year comparative, with lower Investment Banking income due to a
reduced industry fee pool2
|
|
–
|
Consumer, Cards and Payments (CC&P) income increased 47%
from growth in US cards balances,
including the Gap portfolio acquisition3,
and growth in client assets and liabilities in the Private Bank, as
well as the higher rate environment
|
●
|
Group operating expenses were £4.1bn, in line with prior year, including the non-repeat
of certain litigation and conduct items. Group operating expenses
excluding litigation and conduct charges increased to
£4.1bn (Q122: £3.6bn) reflecting the impact of business
growth, inflation and USD appreciation. The Group delivered
positive statutory cost: income jaws and a cost: income ratio of
57%
|
|
●
|
Credit impairment charges were £0.5bn, with a loan loss rate
(LLR) of 52bps, within the guided range of 50-60bps,
reflecting higher US cards balances
and the continuing normalisation anticipated in US cards
delinquencies. Coverage ratios remain strong
|
|
●
|
Common Equity Tier 1 (CET1) ratio of 13.6% (December 2022: 13.9%) reflected the expected reduction of an aggregate
c.40bps of capital impacts in Q123 including the £0.5bn
buyback announced at FY22, and seasonally higher Risk
Weighted Assets (RWAs) in the Global Markets business, which
supported the strong Q1 income performance
|
|
●
|
Tangible net asset value (TNAV) per share of 301p,
increased 6p since December
2022
|
|
●
|
Liquidity coverage ratio (LCR) of 163% (December 2022: 165%) and Net Stable
Funding Ratio (NSFR) of 139%
(December 2022: 137%), well above regulatory minimum
requirements
|
|
●
|
Loan: deposit ratio was maintained at 73% (December 2022:
73%). The Group maintains a
diverse and stable deposit franchise including across wholesale and
consumer as well as across different
geographies
|
1
|
On a comparable basis, period covering 2014-Q123. Pre 2014 data was
not restated following re-segmentation in 2016.
|
2
|
Data source: Dealogic for the period covering 1 January to 31 March
2023.
|
3
|
The Gap portfolio refers to the Gap Inc. US credit card
portfolio.
|
●
|
Returns: targeting RoTE of
greater than 10% in 2023, consistent with our medium-term
target
|
●
|
Income: diversified income
streams continue to position the Group well for the current
economic and market environment including higher interest rates. In
2023, Barclays UK NIM is expected to be greater than
3.20%1
|
●
|
Costs: targeting a cost: income
ratio percentage in the low 60s in 2023, investing for growth
whilst progressing towards the Group’s medium-term target of
below 60%
|
●
|
Impairment: expect an LLR of
50-60bps in 2023, based on the current macroeconomic
outlook
|
●
|
Capital: expect to operate
within the CET1 ratio medium-term target range of
13-14%
|
●
|
Capital returns: capital
distribution policy incorporates a progressive ordinary dividend,
supplemented with share buybacks as appropriate
|
1
|
Assumes the UK bank rate peaks at
4.25% in 2023.
|
Barclays Group results
for the three months ended
|
|
||
31.03.23
|
31.03.22
|
|
|
|
£m
|
£m
|
% Change
|
Barclays UK
|
1,961
|
1,649
|
19
|
Corporate and Investment Bank
|
3,976
|
3,938
|
1
|
Consumer, Cards and Payments
|
1,306
|
886
|
47
|
Barclays International
|
5,282
|
4,824
|
9
|
Head Office
|
(6)
|
23
|
|
Total income
|
7,237
|
6,496
|
11
|
Operating costs
|
(4,111)
|
(3,588)
|
(15)
|
Litigation and conduct
|
1
|
(523)
|
|
Total operating expenses
|
(4,110)
|
(4,111)
|
—
|
Other net expenses
|
(5)
|
(10)
|
50
|
Profit before impairment
|
3,122
|
2,375
|
31
|
Credit impairment charges
|
(524)
|
(141)
|
|
Profit before tax
|
2,598
|
2,234
|
16
|
Tax charge
|
(561)
|
(614)
|
9
|
Profit after tax
|
2,037
|
1,620
|
26
|
Non-controlling interests
|
(8)
|
(1)
|
|
Other equity instrument holders
|
(246)
|
(215)
|
(14)
|
Attributable profit
|
1,783
|
1,404
|
27
|
|
|
|
|
Performance measures
|
|
|
|
Return on average tangible shareholders' equity
|
15.0%
|
11.5%
|
|
Average tangible shareholders' equity (£bn)
|
47.6
|
48.8
|
|
Cost: income ratio
|
57%
|
63%
|
|
Loan loss rate (bps)
|
52
|
15
|
|
Basic earnings per share
|
11.3p
|
8.4p
|
|
Basic weighted average number of shares (m)
|
15,770
|
16,682
|
(5)
|
Period end number of shares (m)
|
15,701
|
16,762
|
(6)
|
|
As at 31.03.23
|
As at 31.12.22
|
As at 31.03.22
|
Balance sheet and capital management1
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
403.5
|
398.8
|
371.7
|
Loans and advances at amortised cost impairment coverage
ratio
|
1.4%
|
1.4%
|
1.5%
|
Total assets
|
1,539.1
|
1,513.7
|
1,496.1
|
Deposits at amortised cost
|
555.7
|
545.8
|
546.5
|
Tangible net asset value per share
|
301p
|
295p
|
294p
|
Common equity tier 1 ratio
|
13.6%
|
13.9%
|
13.8%
|
Common equity tier 1 capital
|
46.0
|
46.9
|
45.3
|
Risk weighted assets
|
338.4
|
336.5
|
328.8
|
UK leverage ratio
|
5.1%
|
5.3%
|
5.0%
|
UK leverage exposure
|
1,168.9
|
1,130.0
|
1,123.5
|
Average UK leverage ratio
|
4.8%
|
4.8%
|
4.8%
|
Average UK leverage exposure
|
1,251.3
|
1,281.0
|
1,179.4
|
|
|
|
|
Funding and liquidity
|
|
|
|
Group liquidity pool (£bn)
|
333.0
|
318.0
|
319.8
|
Liquidity coverage ratio
|
163%
|
165%
|
159%
|
Net
stable funding ratio2
|
139%
|
137%
|
|
Loan: deposit ratio
|
73%
|
73%
|
68%
|
1
|
Refer to pages 29 to 34 for
further information on how capital, RWAs and leverage are
calculated.
|
2
|
Represents average of the last four spot quarter end
positions.
|
●
|
Barclays delivered a profit before tax of £2,598m (Q122:
£2,234m), RoTE of 15.0% (Q122: 11.5%) and EPS of 11.3p (Q122:
8.4p)
|
|
●
|
The Group has a diverse income profile across businesses and
geographies including a significant presence in the US.
The appreciation of average USD
against GBP positively impacted income and profits and adversely
impacted credit impairment charges and total operating
expenses
|
|
●
|
Group income increased 11% to £7,237m
primarily from the higher interest
rate environment and continued structural hedge income momentum
benefiting Barclays UK, Transaction banking and the Private Bank,
the benefit of higher balances in US cards, and growth in client
assets and liabilities in the Private Bank
|
|
●
|
Group operating expenses were
stable at £4,110m (Q122:
£4,111m)
|
|
|
–
|
Group operating expenses excluding litigation and conduct charges
increased to £4,111m (Q122: £3,588m) reflecting the impact of business growth and
inflation
|
|
–
|
The prior year litigation and conduct charges of
£523m included charges relating
to the Over-issuance of Securities in the US (Over-issuance
of Securities1) and customer
remediation costs relating to a legacy loan portfolio
|
●
|
Credit impairment charges were £524m (Q122: £141m)
reflecting higher US cards balances,
including the Gap portfolio acquisition in Q222, and the continuing
normalisation anticipated in US cards delinquencies.
Total coverage ratio remains strong at
1.4% (December 2022: 1.4%)
|
|
●
|
The effective tax rate (ETR) was 21.6% (Q122: 27.5%).
The prior year included the tax charge
recognised for the re-measurement of the Group’s UK deferred
tax assets as a result of the UK banking surcharge rate being
reduced from 8% to 3%
|
|
●
|
Attributable profit was £1,783m (Q122:
£1,404m)
|
|
●
|
Total assets increased to £1,539.1bn
(December 2022: £1,513.7bn)
driven by increased trading and client activity within Global
Markets and the acquisition of Kensington Mortgage Company (KMC),
partially offset by strengthening of GBP against USD since December
2022. The Group liquidity pool was further strengthened by growth
in deposits and wholesale funding
|
|
●
|
TNAV per share increased to 301p (December 2022: 295p)
as EPS of 11.3p and other
reserve movements were partially offset by the 2022 full year
dividend paid on 31 March 2023
|
Barclays UK delivered a RoTE of 20.0% supported by higher interest rates and the
continued investment in our transformation into a next-generation,
digitised consumer bank.
|
||
●
|
Profit before tax increased
27% to £754m with a RoTE of 20.0% (Q122: 15.6%)
|
|
●
|
Total income increased 19% to £1,961m. Net
interest income increased
21% to £1,618m with a NIM of 3.18% (Q122:
2.62%), continuing to build as
higher interest rates and
associated structural hedge benefit outweighed mortgage margin
pressure. Net fee, commission and other income increased 11% to £343m partially driven by
transactional income in Business Banking and UK cards
|
|
|
–
|
Personal
Banking income increased 23% to
£1,253m, driven by higher
interest rates, partially offset by mortgage margin
compression
|
|
–
|
Barclaycard
Consumer UK income decreased
11% to £247m as higher customer spend volumes
were more than offset by lower interest earning lending balances
following repayments and ongoing prudent risk
management
|
|
–
|
Business
Banking income increased
31% to £461m driven by higher interest rates
alongside improved transaction based revenues, partially offset by
lower government scheme lending as repayments continue
|
●
|
Total operating expenses increased 9% to £1,094m from the impact of inflation with
ongoing efficiency savings reinvested in digitisation to support
further improvements to the cost: income ratio over
time
|
|
●
|
Credit impairment charges were £113m (Q122: £48m), reflecting limited observed deterioration. UK cards 30
and 90 day arrears remained below pre-pandemic levels at 0.9%
(Q122: 1.0%) and 0.2% (Q122: 0.3%) respectively2. The UK cards total
coverage ratio was 7.7% (December 2022: 7.6%)
|
|
●
|
Loans and advances to customers at amortised cost
increased
2% to £208.2bn primarily
reflecting the acquisition of KMC
|
|
●
|
Customer deposits at amortised cost decreased 1% to £254.3bn.
Increases in savings product balances were more than offset by
reduced current account and business banking deposits, reflecting
broader market trends. The loan: deposit ratio increased to
90% (December 2022:
87%)
|
|
●
|
RWAs increased to £74.6bn
(December 2022: £73.1bn) including £0.8bn related to the
acquisition of KMC
|
1
|
Denotes the Over-issuance of Securities under Barclays Bank PLC's
(BBPLC) US shelf registration statements on Form F-3 filed with the
SEC in 2018 and 2019.
|
2
|
As at 31 December 2019, UK cards 30 and 90 days arrears were 1.7%
and 0.8% respectively.
|
Barclays International delivered a RoTE of 14.5%.
CIB continued to support clients
through a period of market volatility, with performance reflecting
the benefits of income diversification and continued investment in
sustainable growth. CC&P performance reflects continued
investment in the business resulting in balance growth and
increased income, partially offset by higher impairment
charges.
|
||||
●
|
Profit before tax increased 13% to £1,928m with a RoTE of
14.5% (Q122: 14.8%), reflecting
a RoTE of 15.2% (Q122: 17.1%) in CIB and 10.5% (Q122: (1.5)%) in
CC&P
|
|||
●
|
Barclays International has a diverse income profile across
businesses and geographies including a significant presence in the
US. The appreciation of average
USD against GBP positively impacted income and profits, and
adversely impacted credit impairment charges and total operating
expenses
|
|||
●
|
Total income increased to
£5,282m (Q122:
£4,824m)
|
|||
|
–
|
CIB
income of £3,976m (Q122:
£3,938m) represented the
best Q1 on a comparable basis1
|
||
|
|
–
|
Global
Markets income of £2,492m
decreased 8% against a record prior year comparative.
FICC income increased 9% to
£1,788m, driven by a
strong performance in credit. Equities income decreased 33% to £704m driven by a decline in
derivatives income reflecting less volatile equity market
conditions relative to prior year
|
|
|
|
–
|
Investment
Banking fees decreased
7% to £603m due to the reduced fee pool2,
partially offset by a strong performance in advisory representing
the best Q1 performance1
|
|
|
|
–
|
Within
Corporate, Transaction banking income increased 68% to £786m representing the best Q1
performance1, driven by improved
margins, in the higher rate
environment, in deposits. Corporate lending income decreased
24% to £95m mainly driven by costs of higher
credit protection
|
|
|
–
|
CC&P
income increased 47% to £1,306m
|
||
|
|
–
|
International
Cards and Consumer Bank income increased 67% to £900m reflecting higher cards balances
and improved margins, including the Gap portfolio acquisition in
Q222
|
|
|
|
–
|
Private
Bank income increased
21% to £258m, reflecting client balance
growth and improved margins
|
|
|
|
–
|
Payments
income increased 10% to £148m driven by merchant acquiring
turnover growth
|
|
●
|
Total operating expenses decreased 2% to £2,953m and increased 18% to £2,956m excluding litigation and
conduct, reflecting continued investment in the
business
|
|||
|
–
|
CIB total operating expenses decreased 2% to £2,199m. Operating expenses excluding
litigation and conduct charges increased 15% to £2,202m driven by continued investment
in talent and technology, and the impact of appreciation of average
USD and inflation
|
||
|
–
|
CC&P
total operating expenses decreased 3% to £754m. Operating expenses excluding
litigation and conduct charges increased 29% to £754m, driven by higher investment
spend to support growth, mainly in marketing and partnership costs,
including the Gap portfolio
acquisition, and the impact of appreciation of average USD
and inflation
|
||
●
|
Credit impairment charges were £404m (Q122: £101m) reflecting higher balances and
the continuing normalisation anticipated in US cards
delinquencies
|
|||
|
–
|
CIB
credit impairment charges of £33m (Q122: £33m net release) were driven by
single name charges partially offset by the benefit of credit protection
|
||
|
–
|
CC&P
credit impairment charges increased to £371m (Q122: £134m), reflecting higher US cards
balances, including the Gap portfolio, and the continuing
normalisation anticipated in delinquencies. US cards 30 and 90 day
arrears were 2.3% (Q122: 1.6%) and 1.2% (Q122: 0.8%) respectively.
The US cards total coverage ratio was 8.9% (December 2022:
8.1%)
|
||
●
|
RWAs increased to £255.1bn
(December 2022: £254.8bn)
mainly supporting increased
client and trading activity within Global Markets, partially offset
by strengthening of GBP against USD since December
2022
|
●
|
Loss before tax was £84m
(Q122: £73m)
|
●
|
Total income was an expense of £6m (Q122: £23m income) with hedge accounting gains offset by treasury
items. The prior year included a one-off gain of £86m from the
sale and leaseback of UK data centres
|
●
|
Total operating expenses were £63m (Q122: £86m)
|
●
|
RWAs were £8.8bn (December
2022: £8.6bn)
|
1
|
On a comparable basis, period covering 2014-Q123. Pre 2014 data was
not restated following re-segmentation in 2016.
|
2
|
Data source: Dealogic for the period covering 1 January to 31 March
2023.
|
●
|
Barclays paid the 2022 full year dividend of 5.0p on
31 March 2023 and completed the £0.5bn share
buyback programme announced at FY22 results on 14 April
2023
|
●
|
Barclays
is committed to maintaining a balance between a strong capital
position, delivering total cash returns to shareholders and
investment in the business. Barclays pays a progressive ordinary
dividend, taking into account these objectives and the earnings
outlook of the Group. The Board will also continue to supplement
the ordinary dividend as
appropriate, including with share buybacks
|
●
|
The CET1 ratio decreased by c.30bps to 13.6% (December 2022: 13.9%)
as RWAs increased by £1.9bn to £338.4bn and CET1 capital
decreased by £0.9bn to £46.0bn:
|
|
|
–
|
c.50bps increase from attributable profit generated in the
quarter
|
|
–
|
c.40bps aggregate decrease from expected capital impacts in Q123,
including the £0.5bn share buyback announced at FY22 results,
the impact of regulatory change on 1 January 2023 relating to IFRS
9 transitional relief, and the impact of the KMC
acquisition
|
|
–
|
c.20bps decrease as a result of a £5.2bn increase in RWAs
primarily driven by increased client and trading activity within
Global Markets
|
|
–
|
c.20bps decrease primarily due to increased regulatory capital
deductions and an accrual for the FY23 dividend
|
|
–
|
A £4.0bn decrease in RWAs as a result of foreign exchange
movements was broadly offset by a £0.5bn decrease in the
currency translation reserve
|
●
|
The UK
leverage ratio decreased to 5.1% (December 2022: 5.3%) primarily
due to a £38.9bn increase in leverage exposure and a
£0.4bn decrease in Tier 1 capital. The UK leverage exposure
increased to £1,168.9bn (December 2022: £1,130.0bn)
largely due to an increase in securities financing transactions
(SFT) client and trading activity within Global
Markets
|
●
|
The
liquidity and funding position remains robust and strengthened
further in Q123. The liquidity pool increased to £333.0bn
(December 2022: £318.0bn) driven by growth in deposits and
increased wholesale funding. The composition of the liquidity pool
is conservative, with 82% held in cash and deposits with central
banks and the remainder primarily held in high quality government bonds, materially held at fair value or
hedged
|
●
|
The
strength of the funding and liquidity position is supported by a
diverse and stable deposit franchise. Total deposits increased to
£555.7bn (December 2022: £545.8bn)
|
●
|
The
liquidity coverage ratio remained significantly above the 100%
regulatory requirement at 163% (December 2022: 165%), equivalent to
a surplus of £122.0bn (December 2022:
£116.4bn)
|
●
|
Net
Stable Funding Ratio (average of last four quarter ends) was 139%
(December 2022: 137%), which represents a £166.7bn (December
2022: £155.6bn) surplus above 100% regulatory
requirement
|
●
|
Wholesale
funding outstanding, excluding repurchase agreements, was
£192.2bn (December 2022: £184.0bn)
|
●
|
The
Group issued £2.8bn equivalent of minimum requirement for own
funds and eligible liabilities (MREL) instruments from Barclays PLC
(the Parent company) in Q123. The Group has a strong MREL position
with a ratio of 32.7%, which is in excess of the regulatory
requirement of 29% plus a confidential, institution specific, Prudential Regulation Authority
(PRA) buffer
|
●
|
KMC acquisition: further to the announcement in Q222, on 1
March 2023 Barclays completed the acquisition of UK specialist
mortgage lender KMC, including a portfolio of mortgages totalling
£2.2bn with an RWA impact of £0.8bn. The transaction
broadens Barclays' existing mortgage product range by adding a
leading UK specialist residential mortgage lender with an
established track record in the UK market, further enhancing its
product capabilities consistent with Barclays’ strategic
priority to deliver next-generation, digitised consumer financial
services
|
Barclays UK
|
Three months ended
|
||
|
31.03.23
|
31.03.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
1,618
|
1,339
|
21
|
Net fee, commission and other income
|
343
|
310
|
11
|
Total income
|
1,961
|
1,649
|
19
|
Operating costs
|
(1,092)
|
(998)
|
(9)
|
Litigation and conduct
|
(2)
|
(9)
|
78
|
Total operating expenses
|
(1,094)
|
(1,007)
|
(9)
|
Other net income
|
—
|
—
|
|
Profit before impairment
|
867
|
642
|
35
|
Credit impairment charges
|
(113)
|
(48)
|
|
Profit before tax
|
754
|
594
|
27
|
Attributable profit
|
515
|
396
|
30
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
20.0%
|
15.6%
|
|
Average allocated tangible equity (£bn)
|
10.3
|
10.1
|
|
Cost: income ratio
|
56%
|
61%
|
|
Loan loss rate (bps)
|
20
|
9
|
|
Net interest margin
|
3.18%
|
2.62%
|
|
|
|
|
|
|
As at 31.03.23
|
As at 31.12.22
|
As at 31.03.22
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
208.2
|
205.1
|
207.3
|
Total assets
|
308.6
|
313.2
|
317.2
|
Customer deposits at amortised cost
|
254.3
|
258.0
|
260.3
|
Loan: deposit ratio
|
90%
|
87%
|
85%
|
Risk weighted assets
|
74.6
|
73.1
|
72.7
|
Period end allocated tangible equity
|
10.3
|
10.1
|
10.1
|
|
|
|
|
Analysis of Barclays UK
|
Three months ended
|
||
31.03.23
|
31.03.22
|
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
Personal Banking
|
1,253
|
1,022
|
23
|
Barclaycard Consumer UK
|
247
|
276
|
(11)
|
Business Banking
|
461
|
351
|
31
|
Total income
|
1,961
|
1,649
|
19
|
|
|
|
|
Analysis of credit impairment charges
|
|
|
|
Personal Banking
|
(28)
|
21
|
|
Barclaycard Consumer UK
|
(83)
|
(44)
|
(89)
|
Business Banking
|
(2)
|
(25)
|
92
|
Total credit impairment charges
|
(113)
|
(48)
|
|
|
|
|
|
|
As at 31.03.23
|
As at 31.12.22
|
As at 31.03.22
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
£bn
|
Personal Banking
|
173.6
|
169.7
|
166.5
|
Barclaycard Consumer UK
|
9.0
|
9.2
|
8.4
|
Business Banking
|
25.6
|
26.2
|
32.4
|
Total loans and advances to customers at amortised
cost
|
208.2
|
205.1
|
207.3
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
Personal Banking
|
194.3
|
195.6
|
196.6
|
Barclaycard Consumer UK
|
—
|
—
|
—
|
Business Banking
|
60.0
|
62.4
|
63.7
|
Total customer deposits at amortised cost
|
254.3
|
258.0
|
260.3
|
Barclays International
|
Three months ended
|
||
|
31.03.23
|
31.03.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
1,354
|
936
|
45
|
Net trading income
|
2,419
|
2,446
|
(1)
|
Net fee, commission and other income
|
1,509
|
1,442
|
5
|
Total income
|
5,282
|
4,824
|
9
|
Operating costs
|
(2,956)
|
(2,505)
|
(18)
|
Litigation and conduct
|
3
|
(513)
|
|
Total operating expenses
|
(2,953)
|
(3,018)
|
2
|
Other net income
|
3
|
8
|
(63)
|
Profit before impairment
|
2,332
|
1,814
|
29
|
Credit impairment charges
|
(404)
|
(101)
|
|
Profit before tax
|
1,928
|
1,713
|
13
|
Attributable profit
|
1,348
|
1,300
|
4
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
14.5%
|
14.8%
|
|
Average allocated tangible equity (£bn)
|
37.1
|
35.1
|
|
Cost: income ratio
|
56%
|
63%
|
|
Loan loss rate (bps)
|
94
|
28
|
|
Net interest margin
|
5.87%
|
4.15%
|
|
|
|
|
|
|
As at 31.03.23
|
As at 31.12.22
|
As at 31.03.22
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
131.0
|
133.7
|
113.9
|
Loans and advances to banks at amortised cost
|
9.8
|
8.7
|
10.2
|
Debt securities at amortised cost
|
30.8
|
27.2
|
20.7
|
Loans and advances at amortised cost
|
171.6
|
169.6
|
144.8
|
Trading portfolio assets
|
137.7
|
133.8
|
134.1
|
Derivative financial instrument assets
|
256.6
|
301.7
|
288.8
|
Financial assets at fair value through the income
statement
|
245.0
|
210.5
|
203.8
|
Cash collateral and settlement balances
|
125.5
|
107.7
|
132.0
|
Other assets
|
275.0
|
258.0
|
255.5
|
Total assets
|
1,211.4
|
1,181.3
|
1,159.0
|
Deposits at amortised cost
|
301.6
|
287.6
|
286.1
|
Derivative financial instrument liabilities
|
246.7
|
288.9
|
277.2
|
Loan: deposit ratio
|
57%
|
59%
|
51%
|
Risk weighted assets
|
255.1
|
254.8
|
245.1
|
Period end allocated tangible equity
|
36.8
|
36.8
|
35.6
|
|
|
|
|
Analysis of Barclays International
|
|
|
|
Corporate and Investment Bank
|
Three months ended
|
||
|
31.03.23
|
31.03.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
465
|
385
|
21
|
Net trading income
|
2,437
|
2,450
|
(1)
|
Net fee, commission and other income
|
1,074
|
1,103
|
(3)
|
Total income
|
3,976
|
3,938
|
1
|
Operating costs
|
(2,202)
|
(1,921)
|
(15)
|
Litigation and conduct
|
3
|
(318)
|
|
Total operating expenses
|
(2,199)
|
(2,239)
|
2
|
Other net income
|
—
|
—
|
|
Profit before impairment
|
1,777
|
1,699
|
5
|
Credit impairment (charges)/releases
|
(33)
|
33
|
|
Profit before tax
|
1,744
|
1,732
|
1
|
Attributable profit
|
1,209
|
1,316
|
(8)
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
15.2%
|
17.1%
|
|
Average allocated tangible equity (£bn)
|
31.8
|
30.8
|
|
Cost: income ratio
|
55%
|
57%
|
|
Loan loss rate (bps)
|
10
|
(12)
|
|
|
|
|
|
|
As at 31.03.23
|
As at 31.12.22
|
As at 31.03.22
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
89.2
|
90.5
|
79.5
|
Loans and advances to banks at amortised cost
|
9.2
|
8.1
|
9.4
|
Debt securities at amortised cost
|
30.7
|
27.2
|
20.7
|
Loans and advances at amortised cost
|
129.1
|
125.8
|
109.6
|
Trading portfolio assets
|
137.6
|
133.7
|
134.0
|
Derivative financial instrument assets
|
256.5
|
301.6
|
288.7
|
Financial assets at fair value through the income
statement
|
244.9
|
210.5
|
203.8
|
Cash collateral and settlement balances
|
124.7
|
106.9
|
131.2
|
Other assets
|
230.3
|
222.6
|
222.5
|
Total assets
|
1,123.1
|
1,101.1
|
1,089.8
|
Deposits at amortised cost
|
221.0
|
205.8
|
214.7
|
Derivative financial instrument liabilities
|
246.7
|
288.9
|
277.1
|
Risk weighted assets
|
216.8
|
215.9
|
213.5
|
|
|
|
|
|
Three months ended
|
||
|
31.03.23
|
31.03.22
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
FICC
|
1,788
|
1,644
|
9
|
Equities
|
704
|
1,052
|
(33)
|
Global Markets
|
2,492
|
2,696
|
(8)
|
Advisory
|
212
|
185
|
15
|
Equity capital markets
|
50
|
47
|
6
|
Debt capital markets
|
341
|
416
|
(18)
|
Investment Banking fees
|
603
|
648
|
(7)
|
Corporate lending
|
95
|
125
|
(24)
|
Transaction banking
|
786
|
469
|
68
|
Corporate
|
881
|
594
|
48
|
Total income
|
3,976
|
3,938
|
1
|
Analysis of Barclays International
|
|
|
|
Consumer, Cards and Payments
|
Three months ended
|
||
|
31.03.23
|
31.03.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
889
|
551
|
61
|
Net fee, commission, trading and other income
|
417
|
335
|
24
|
Total income
|
1,306
|
886
|
47
|
Operating costs
|
(754)
|
(584)
|
(29)
|
Litigation and conduct
|
—
|
(195)
|
|
Total operating expenses
|
(754)
|
(779)
|
3
|
Other net income
|
3
|
8
|
(63)
|
Profit before impairment
|
555
|
115
|
|
Credit impairment charges
|
(371)
|
(134)
|
|
Profit/(loss) before tax
|
184
|
(19)
|
|
Attributable profit/(loss)
|
139
|
(16)
|
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
10.5%
|
(1.5)%
|
|
Average allocated tangible equity (£bn)
|
5.3
|
4.3
|
|
Cost: income ratio
|
58%
|
88%
|
|
Loan loss rate (bps)
|
332
|
145
|
|
|
|
|
|
|
As at 31.03.23
|
As at 31.12.22
|
As at 31.03.22
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
41.8
|
43.2
|
34.4
|
Total assets
|
88.3
|
80.2
|
69.2
|
Deposits at amortised cost
|
80.6
|
81.8
|
71.4
|
Risk weighted assets
|
38.2
|
38.9
|
31.6
|
|
|
|
|
|
Three months ended
|
||
|
31.03.23
|
31.03.22
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
International Cards and Consumer Bank
|
900
|
538
|
67
|
Private Bank
|
258
|
214
|
21
|
Payments
|
148
|
134
|
10
|
Total income
|
1,306
|
886
|
47
|
Head Office
|
Three months ended
|
||
|
31.03.23
|
31.03.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
81
|
66
|
23
|
Net fee, commission and other income
|
(87)
|
(43)
|
|
Total income
|
(6)
|
23
|
|
Operating costs
|
(63)
|
(85)
|
26
|
Litigation and conduct
|
—
|
(1)
|
|
Total operating expenses
|
(63)
|
(86)
|
27
|
Other net expenses
|
(8)
|
(18)
|
56
|
Loss before impairment
|
(77)
|
(81)
|
5
|
Credit impairment (charges)/releases
|
(7)
|
8
|
|
Loss before tax
|
(84)
|
(73)
|
(15)
|
Attributable loss
|
(80)
|
(292)
|
73
|
|
|
|
|
Performance measures
|
|
|
|
Average allocated tangible equity (£bn)
|
0.2
|
3.6
|
|
|
|
|
|
|
As at 31.03.23
|
As at 31.12.22
|
As at 31.03.22
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Total assets
|
19.1
|
19.2
|
19.9
|
Risk weighted assets
|
8.8
|
8.6
|
11.0
|
Period end allocated tangible equity
|
0.2
|
(0.2)
|
3.6
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q4211
|
Q3211
|
Q2211
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Net interest income
|
3,053
|
|
2,741
|
3,068
|
2,422
|
2,341
|
|
2,230
|
1,940
|
2,052
|
Net fee, commission and other income
|
4,184
|
|
3,060
|
2,883
|
4,286
|
4,155
|
|
2,930
|
3,525
|
3,363
|
Total income
|
7,237
|
|
5,801
|
5,951
|
6,708
|
6,496
|
|
5,160
|
5,465
|
5,415
|
Operating costs
|
(4,111)
|
|
(3,748)
|
(3,939)
|
(3,682)
|
(3,588)
|
|
(3,514)
|
(3,446)
|
(3,587)
|
UK bank levy
|
—
|
|
(176)
|
—
|
—
|
—
|
|
(170)
|
—
|
—
|
Litigation and conduct
|
1
|
|
(79)
|
339
|
(1,334)
|
(523)
|
|
(92)
|
(129)
|
(143)
|
Total operating expenses
|
(4,110)
|
|
(4,003)
|
(3,600)
|
(5,016)
|
(4,111)
|
|
(3,776)
|
(3,575)
|
(3,730)
|
Other net (expenses)/income
|
(5)
|
|
10
|
(1)
|
7
|
(10)
|
|
13
|
94
|
21
|
Profit before impairment
|
3,122
|
|
1,808
|
2,350
|
1,699
|
2,375
|
|
1,397
|
1,984
|
1,706
|
Credit impairment (charges)/releases
|
(524)
|
|
(498)
|
(381)
|
(200)
|
(141)
|
|
31
|
(120)
|
797
|
Profit before tax
|
2,598
|
|
1,310
|
1,969
|
1,499
|
2,234
|
|
1,428
|
1,864
|
2,503
|
Tax (charge)/credit
|
(561)
|
|
33
|
(249)
|
(209)
|
(614)
|
|
(104)
|
(292)
|
(246)
|
Profit after tax
|
2,037
|
|
1,343
|
1,720
|
1,290
|
1,620
|
|
1,324
|
1,572
|
2,257
|
Non-controlling interests
|
(8)
|
|
(22)
|
(2)
|
(20)
|
(1)
|
|
(27)
|
(1)
|
(15)
|
Other equity instrument holders
|
(246)
|
|
(285)
|
(206)
|
(199)
|
(215)
|
|
(218)
|
(197)
|
(194)
|
Attributable profit
|
1,783
|
|
1,036
|
1,512
|
1,071
|
1,404
|
|
1,079
|
1,374
|
2,048
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
15.0%
|
|
8.9%
|
12.5%
|
8.7%
|
11.5%
|
|
9.0%
|
11.4%
|
17.6%
|
Average tangible shareholders' equity (£bn)
|
47.6
|
|
46.7
|
48.6
|
49.0
|
48.8
|
|
48.0
|
48.3
|
46.5
|
Cost: income ratio
|
57%
|
|
69%
|
60%
|
75%
|
63%
|
|
73%
|
65%
|
69%
|
Loan loss rate (bps)
|
52
|
|
49
|
36
|
20
|
15
|
|
(3)
|
13
|
(90)
|
Basic earnings per share
|
11.3p
|
|
6.5p
|
9.4p
|
6.4p
|
8.4p
|
|
6.4p
|
8.0p
|
11.9p
|
Basic weighted average number of shares (m)
|
15,770
|
|
15,828
|
16,148
|
16,684
|
16,682
|
|
16,985
|
17,062
|
17,140
|
Period end number of shares (m)
|
15,701
|
|
15,871
|
15,888
|
16,531
|
16,762
|
|
16,752
|
16,851
|
16,998
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet and capital management2
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
343.6
|
|
343.3
|
346.3
|
337.2
|
325.8
|
|
319.9
|
313.5
|
309.2
|
Loans and advances to banks at amortised cost
|
11.0
|
|
10.0
|
12.5
|
12.5
|
11.4
|
|
9.7
|
10.6
|
11.0
|
Debt securities at amortised cost
|
48.9
|
|
45.5
|
54.8
|
46.1
|
34.5
|
|
31.8
|
28.9
|
28.3
|
Loans and advances at amortised cost
|
403.5
|
|
398.8
|
413.7
|
395.8
|
371.7
|
|
361.5
|
353.0
|
348.5
|
Loans and advances at amortised cost impairment coverage
ratio
|
1.4%
|
|
1.4%
|
1.4%
|
1.4%
|
1.5%
|
|
1.6%
|
1.7%
|
1.8%
|
Total assets
|
1,539.1
|
|
1,513.7
|
1,726.9
|
1,589.2
|
1,496.1
|
|
1,384.3
|
1,406.5
|
1,376.3
|
Deposits at amortised cost
|
555.7
|
|
545.8
|
574.4
|
568.7
|
546.5
|
|
519.4
|
510.2
|
500.9
|
Tangible net asset value per share
|
301p
|
|
295p
|
286p
|
297p
|
294p
|
|
291p
|
286p
|
280p
|
Common equity tier 1 ratio
|
13.6%
|
|
13.9%
|
13.8%
|
13.6%
|
13.8%
|
|
15.1%
|
15.3%
|
15.0%
|
Common equity tier 1 capital
|
46.0
|
|
46.9
|
48.6
|
46.7
|
45.3
|
|
47.3
|
47.2
|
46.2
|
Risk weighted assets
|
338.4
|
|
336.5
|
350.8
|
344.5
|
328.8
|
|
314.1
|
307.7
|
307.4
|
UK leverage ratio
|
5.1%
|
|
5.3%
|
5.0%
|
5.1%
|
5.0%
|
|
5.2%
|
5.1%
|
5.0%
|
UK leverage exposure
|
1,168.9
|
|
1,130.0
|
1,232.1
|
1,151.2
|
1,123.5
|
|
1,137.9
|
1,162.7
|
1,154.9
|
Average UK leverage ratio
|
4.8%
|
|
4.8%
|
4.8%
|
4.7%
|
4.8%
|
|
4.9%
|
4.9%
|
4.8%
|
Average UK leverage exposure
|
1,251.3
|
|
1,281.0
|
1,259.6
|
1,233.5
|
1,179.4
|
|
1,229.0
|
1,201.1
|
1,192.7
|
|
|
|
|
|
|
|
|
|
|
|
Funding and liquidity
|
|
|
|
|
|
|
|
|
|
|
Group liquidity pool (£bn)
|
333.0
|
|
318.0
|
325.8
|
342.5
|
319.8
|
|
291.0
|
292.8
|
290.8
|
Liquidity coverage ratio
|
163%
|
|
165%
|
151%
|
156%
|
159%
|
|
168%
|
161%
|
162%
|
Net
stable funding ratio3
|
139%
|
|
137%
|
|
|
|
|
|
|
|
Loan: deposit ratio
|
73%
|
|
73%
|
72%
|
70%
|
68%
|
|
70%
|
69%
|
70%
|
1
|
The comparative capital and financial metrics relating to Q221 -
Q421 have been restated to reflect the impact of the Over-issuance
of Securities.
|
2
|
Refer to pages 29 to 34 for
further information on how capital, RWAs and leverage are
calculated.
|
3
|
Represents average of the last four spot quarter end
positions.
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q421
|
Q321
|
Q221
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Net interest income
|
1,618
|
|
1,600
|
1,561
|
1,393
|
1,339
|
|
1,313
|
1,303
|
1,305
|
Net fee, commission and other income
|
343
|
|
370
|
355
|
331
|
310
|
|
386
|
335
|
318
|
Total income
|
1,961
|
|
1,970
|
1,916
|
1,724
|
1,649
|
|
1,699
|
1,638
|
1,623
|
Operating costs
|
(1,092)
|
|
(1,108)
|
(1,069)
|
(1,085)
|
(998)
|
|
(1,202)
|
(1,041)
|
(1,078)
|
UK bank levy
|
—
|
|
(26)
|
—
|
—
|
—
|
|
(36)
|
—
|
—
|
Litigation and conduct
|
(2)
|
|
(13)
|
(3)
|
(16)
|
(9)
|
|
(5)
|
(10)
|
(19)
|
Total operating expenses
|
(1,094)
|
|
(1,147)
|
(1,072)
|
(1,101)
|
(1,007)
|
|
(1,243)
|
(1,051)
|
(1,097)
|
Other net income/(expenses)
|
—
|
|
1
|
(1)
|
—
|
—
|
|
(1)
|
1
|
—
|
Profit before impairment
|
867
|
|
824
|
843
|
623
|
642
|
|
455
|
588
|
526
|
Credit impairment (charges)/releases
|
(113)
|
|
(157)
|
(81)
|
—
|
(48)
|
|
59
|
(137)
|
520
|
Profit before tax
|
754
|
|
667
|
762
|
623
|
594
|
|
514
|
451
|
1,046
|
Attributable profit
|
515
|
|
474
|
549
|
458
|
396
|
|
420
|
317
|
721
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
208.2
|
|
205.1
|
205.1
|
205.9
|
207.3
|
|
208.8
|
208.6
|
207.8
|
Total assets
|
308.6
|
|
313.2
|
316.8
|
318.8
|
317.2
|
|
321.2
|
312.1
|
311.2
|
Customer deposits at amortised cost
|
254.3
|
|
258.0
|
261.0
|
261.5
|
260.3
|
|
260.6
|
256.8
|
255.5
|
Loan: deposit ratio
|
90%
|
|
87%
|
86%
|
85%
|
85%
|
|
85%
|
86%
|
87%
|
Risk weighted assets
|
74.6
|
|
73.1
|
73.2
|
72.2
|
72.7
|
|
72.3
|
73.2
|
72.2
|
Period end allocated tangible equity
|
10.3
|
|
10.1
|
10.1
|
9.9
|
10.1
|
|
10.0
|
10.0
|
9.9
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
20.0%
|
|
18.7%
|
22.1%
|
18.4%
|
15.6%
|
|
16.8%
|
12.7%
|
29.1%
|
Average allocated tangible equity (£bn)
|
10.3
|
|
10.2
|
9.9
|
10.0
|
10.1
|
|
10.0
|
10.0
|
9.9
|
Cost: income ratio
|
56%
|
|
58%
|
56%
|
64%
|
61%
|
|
73%
|
64%
|
68%
|
Loan loss rate (bps)
|
20
|
|
27
|
14
|
—
|
9
|
|
(10)
|
24
|
(93)
|
Net interest margin
|
3.18%
|
|
3.10%
|
3.01%
|
2.71%
|
2.62%
|
|
2.49%
|
2.49%
|
2.55%
|
Analysis of Barclays UK
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q421
|
Q321
|
Q221
|
Analysis of total income
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Personal Banking
|
1,253
|
|
1,229
|
1,212
|
1,077
|
1,022
|
|
983
|
990
|
987
|
Barclaycard Consumer UK
|
247
|
|
269
|
283
|
265
|
276
|
|
352
|
293
|
290
|
Business Banking
|
461
|
|
472
|
421
|
382
|
351
|
|
364
|
355
|
346
|
Total income
|
1,961
|
|
1,970
|
1,916
|
1,724
|
1,649
|
|
1,699
|
1,638
|
1,623
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of credit impairment (charges)/releases
|
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
(28)
|
|
(120)
|
(26)
|
(42)
|
21
|
|
8
|
(30)
|
72
|
Barclaycard Consumer UK
|
(83)
|
|
(12)
|
2
|
84
|
(44)
|
|
114
|
(108)
|
434
|
Business Banking
|
(2)
|
|
(25)
|
(57)
|
(42)
|
(25)
|
|
(63)
|
1
|
14
|
Total credit impairment (charges)/releases
|
(113)
|
|
(157)
|
(81)
|
—
|
(48)
|
|
59
|
(137)
|
520
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Personal Banking
|
173.6
|
|
169.7
|
168.7
|
167.1
|
166.5
|
|
165.4
|
164.6
|
162.4
|
Barclaycard Consumer UK
|
9.0
|
|
9.2
|
9.0
|
8.8
|
8.4
|
|
8.7
|
8.6
|
8.8
|
Business Banking
|
25.6
|
|
26.2
|
27.4
|
30.0
|
32.4
|
|
34.7
|
35.4
|
36.6
|
Total loans and advances to customers at amortised
cost
|
208.2
|
|
205.1
|
205.1
|
205.9
|
207.3
|
|
208.8
|
208.6
|
207.8
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
194.3
|
|
195.6
|
197.3
|
197.0
|
196.6
|
|
196.4
|
193.3
|
191.0
|
Barclaycard Consumer UK
|
—
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
0.1
|
Business Banking
|
60.0
|
|
62.4
|
63.7
|
64.5
|
63.7
|
|
64.2
|
63.5
|
64.4
|
Total customer deposits at amortised cost
|
254.3
|
|
258.0
|
261.0
|
261.5
|
260.3
|
|
260.6
|
256.8
|
255.5
|
Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q4211
|
Q3211
|
Q2211
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Net interest income
|
1,354
|
|
1,465
|
1,497
|
1,029
|
936
|
|
955
|
749
|
811
|
Net trading income
|
2,419
|
|
1,169
|
1,328
|
2,766
|
2,446
|
|
789
|
1,515
|
1,455
|
Net fee, commission and other income
|
1,509
|
|
1,228
|
1,240
|
1,321
|
1,442
|
|
1,766
|
1,673
|
1,553
|
Total income
|
5,282
|
|
3,862
|
4,065
|
5,116
|
4,824
|
|
3,510
|
3,937
|
3,819
|
Operating costs
|
(2,956)
|
|
(2,543)
|
(2,776)
|
(2,537)
|
(2,505)
|
|
(2,160)
|
(2,310)
|
(2,168)
|
UK bank levy
|
—
|
|
(133)
|
—
|
—
|
—
|
|
(134)
|
—
|
—
|
Litigation and conduct
|
3
|
|
(67)
|
396
|
(1,319)
|
(513)
|
|
(84)
|
(100)
|
(140)
|
Total operating expenses
|
(2,953)
|
|
(2,743)
|
(2,380)
|
(3,856)
|
(3,018)
|
|
(2,378)
|
(2,410)
|
(2,308)
|
Other net income
|
3
|
|
5
|
10
|
5
|
8
|
|
3
|
15
|
13
|
Profit before impairment
|
2,332
|
|
1,124
|
1,695
|
1,265
|
1,814
|
|
1,135
|
1,542
|
1,524
|
Credit impairment (charges)/releases
|
(404)
|
|
(328)
|
(295)
|
(209)
|
(101)
|
|
(23)
|
18
|
271
|
Profit before tax
|
1,928
|
|
796
|
1,400
|
1,056
|
1,713
|
|
1,112
|
1,560
|
1,795
|
Attributable profit
|
1,348
|
|
625
|
1,136
|
783
|
1,300
|
|
818
|
1,191
|
1,207
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
131.0
|
|
133.7
|
137.0
|
126.7
|
113.9
|
|
106.4
|
99.9
|
96.3
|
Loans and advances to banks at amortised cost
|
9.8
|
|
8.7
|
11.0
|
11.3
|
10.2
|
|
8.4
|
9.4
|
9.9
|
Debt securities at amortised cost
|
30.8
|
|
27.2
|
36.2
|
29.3
|
20.7
|
|
19.0
|
16.6
|
15.7
|
Loans and advances at amortised cost
|
171.6
|
|
169.6
|
184.2
|
167.3
|
144.8
|
|
133.8
|
125.9
|
121.9
|
Trading portfolio assets
|
137.7
|
|
133.8
|
126.3
|
126.9
|
134.1
|
|
146.9
|
144.8
|
147.1
|
Derivative financial instrument assets
|
256.6
|
|
301.7
|
415.7
|
343.5
|
288.8
|
|
261.5
|
257.0
|
255.4
|
Financial assets at fair value through the income
statement
|
245.0
|
|
210.5
|
244.7
|
209.3
|
203.8
|
|
188.2
|
200.5
|
190.4
|
Cash collateral and settlement balances
|
125.5
|
|
107.7
|
163.3
|
128.5
|
132.0
|
|
88.1
|
115.9
|
108.5
|
Other assets
|
275.0
|
|
258.0
|
257.2
|
275.1
|
255.5
|
|
225.6
|
231.8
|
223.5
|
Total assets
|
1,211.4
|
|
1,181.3
|
1,391.4
|
1,250.6
|
1,159.0
|
|
1,044.1
|
1,075.9
|
1,046.8
|
Deposits at amortised cost
|
301.6
|
|
287.6
|
313.2
|
307.4
|
286.1
|
|
258.8
|
253.3
|
245.4
|
Derivative financial instrument liabilities
|
246.7
|
|
288.9
|
394.2
|
321.2
|
277.2
|
|
256.4
|
252.3
|
246.9
|
Loan: deposit ratio
|
57%
|
|
59%
|
59%
|
54%
|
51%
|
|
52%
|
50%
|
50%
|
Risk weighted assets
|
255.1
|
|
254.8
|
269.3
|
263.8
|
245.1
|
|
230.9
|
222.7
|
223.2
|
Period end allocated tangible equity
|
36.8
|
|
36.8
|
38.8
|
38.0
|
35.6
|
|
33.2
|
31.8
|
31.8
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
14.5%
|
|
6.4%
|
11.6%
|
8.4%
|
14.8%
|
|
9.9%
|
14.9%
|
14.9%
|
Average allocated tangible equity (£bn)
|
37.1
|
|
38.9
|
39.1
|
37.3
|
35.1
|
|
32.9
|
31.8
|
32.4
|
Cost: income ratio
|
56%
|
|
71%
|
59%
|
75%
|
63%
|
|
68%
|
61%
|
60%
|
Loan loss rate (bps)
|
94
|
|
75
|
62
|
49
|
28
|
|
7
|
(6)
|
(87)
|
Net interest margin
|
5.87%
|
|
5.71%
|
5.58%
|
4.52%
|
4.15%
|
|
4.14%
|
4.02%
|
3.96%
|
1
|
The comparative capital and financial metrics relating to Q221 -
Q421 have been restated to reflect the impact of the Over-issuance
of Securities.
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q4211
|
Q3211
|
Q2211
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Net interest income
|
465
|
|
548
|
606
|
410
|
385
|
|
432
|
279
|
370
|
Net trading income
|
2,437
|
|
1,201
|
1,344
|
2,738
|
2,450
|
|
774
|
1,467
|
1,494
|
Net fee, commission and other income
|
1,074
|
|
827
|
871
|
885
|
1,103
|
|
1,426
|
1,383
|
1,115
|
Total income
|
3,976
|
|
2,576
|
2,821
|
4,033
|
3,938
|
|
2,632
|
3,129
|
2,979
|
Operating costs
|
(2,202)
|
|
(1,796)
|
(2,043)
|
(1,870)
|
(1,921)
|
|
(1,562)
|
(1,747)
|
(1,623)
|
UK bank levy
|
—
|
|
(126)
|
—
|
—
|
—
|
|
(128)
|
—
|
—
|
Litigation and conduct
|
3
|
|
(55)
|
498
|
(1,314)
|
(318)
|
|
(59)
|
(99)
|
(78)
|
Total operating expenses
|
(2,199)
|
|
(1,977)
|
(1,545)
|
(3,184)
|
(2,239)
|
|
(1,749)
|
(1,846)
|
(1,701)
|
Other net income
|
—
|
|
2
|
—
|
—
|
—
|
|
1
|
—
|
—
|
Profit before impairment
|
1,777
|
|
601
|
1,276
|
849
|
1,699
|
|
884
|
1,283
|
1,278
|
Credit impairment (charges)/releases
|
(33)
|
|
(41)
|
(46)
|
(65)
|
33
|
|
73
|
128
|
229
|
Profit before tax
|
1,744
|
|
560
|
1,230
|
784
|
1,732
|
|
957
|
1,411
|
1,507
|
Attributable profit
|
1,209
|
|
454
|
1,015
|
579
|
1,316
|
|
695
|
1,085
|
989
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
89.2
|
|
90.5
|
93.6
|
86.5
|
79.5
|
|
73.4
|
68.3
|
66.3
|
Loans and advances to banks at amortised cost
|
9.2
|
|
8.1
|
10.2
|
10.0
|
9.4
|
|
7.6
|
8.9
|
9.0
|
Debt securities at amortised cost
|
30.7
|
|
27.2
|
36.2
|
29.3
|
20.7
|
|
19.0
|
16.6
|
15.7
|
Loans and advances at amortised cost
|
129.1
|
|
125.8
|
140.0
|
125.8
|
109.6
|
|
100.0
|
93.8
|
91.0
|
Trading portfolio assets
|
137.6
|
|
133.7
|
126.1
|
126.7
|
134.0
|
|
146.7
|
144.7
|
147.0
|
Derivative financial instruments assets
|
256.5
|
|
301.6
|
415.5
|
343.4
|
288.7
|
|
261.5
|
256.9
|
255.3
|
Financial assets at fair value through the income
statement
|
244.9
|
|
210.5
|
244.6
|
209.2
|
203.8
|
|
188.1
|
200.4
|
190.3
|
Cash collateral and settlement balances
|
124.7
|
|
106.9
|
162.6
|
127.7
|
131.2
|
|
87.2
|
115.1
|
107.7
|
Other assets
|
230.3
|
|
222.6
|
220.6
|
237.2
|
222.5
|
|
195.8
|
200.4
|
192.5
|
Total assets
|
1,123.1
|
|
1,101.1
|
1,309.4
|
1,170.0
|
1,089.8
|
|
979.3
|
1,011.3
|
983.8
|
Deposits at amortised cost
|
221.0
|
|
205.8
|
229.5
|
229.5
|
214.7
|
|
189.4
|
185.8
|
178.2
|
Derivative financial instrument liabilities
|
246.7
|
|
288.9
|
394.2
|
321.2
|
277.1
|
|
256.4
|
252.2
|
246.8
|
Risk weighted assets
|
216.8
|
|
215.9
|
230.6
|
227.6
|
213.5
|
|
200.7
|
192.5
|
194.3
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
15.2%
|
|
5.4%
|
11.9%
|
7.1%
|
17.1%
|
|
9.7%
|
15.6%
|
14.0%
|
Average allocated tangible equity (£bn)
|
31.8
|
|
33.7
|
34.0
|
32.7
|
30.8
|
|
28.7
|
27.8
|
28.4
|
Cost: income ratio
|
55%
|
|
77%
|
55%
|
79%
|
57%
|
|
66%
|
59%
|
57%
|
Loan loss rate (bps)
|
10
|
|
13
|
13
|
20
|
(12)
|
|
(29)
|
(54)
|
(100)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of total income
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
FICC
|
1,788
|
|
976
|
1,546
|
1,529
|
1,644
|
|
546
|
803
|
895
|
Equities
|
704
|
|
440
|
246
|
1,411
|
1,052
|
|
501
|
757
|
777
|
Global Markets
|
2,492
|
|
1,416
|
1,792
|
2,940
|
2,696
|
|
1,047
|
1,560
|
1,672
|
Advisory
|
212
|
|
197
|
150
|
236
|
185
|
|
287
|
253
|
218
|
Equity capital markets
|
50
|
|
40
|
42
|
37
|
47
|
|
158
|
186
|
226
|
Debt capital markets
|
341
|
|
243
|
341
|
281
|
416
|
|
511
|
532
|
429
|
Investment Banking fees
|
603
|
|
480
|
533
|
554
|
648
|
|
956
|
971
|
873
|
Corporate lending
|
95
|
|
(128)
|
(181)
|
(47)
|
125
|
|
176
|
168
|
38
|
Transaction banking
|
786
|
|
808
|
677
|
586
|
469
|
|
453
|
430
|
396
|
Corporate
|
881
|
|
680
|
496
|
539
|
594
|
|
629
|
598
|
434
|
Total income
|
3,976
|
|
2,576
|
2,821
|
4,033
|
3,938
|
|
2,632
|
3,129
|
2,979
|
1
|
The comparative capital and financial metrics relating to Q221 -
Q421 have been restated to reflect the impact of the Over-issuance
of Securities.
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer, Cards and Payments
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q421
|
Q321
|
Q221
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Net interest income
|
889
|
|
918
|
891
|
619
|
551
|
|
522
|
471
|
441
|
Net fee, commission, trading and other income
|
417
|
|
368
|
353
|
464
|
335
|
|
356
|
337
|
399
|
Total income
|
1,306
|
|
1,286
|
1,244
|
1,083
|
886
|
|
878
|
808
|
840
|
Operating costs
|
(754)
|
|
(747)
|
(733)
|
(667)
|
(584)
|
|
(598)
|
(563)
|
(545)
|
UK bank levy
|
—
|
|
(7)
|
—
|
—
|
—
|
|
(6)
|
—
|
—
|
Litigation and conduct
|
—
|
|
(12)
|
(102)
|
(5)
|
(195)
|
|
(25)
|
(1)
|
(62)
|
Total operating expenses
|
(754)
|
|
(766)
|
(835)
|
(672)
|
(779)
|
|
(629)
|
(564)
|
(607)
|
Other net income
|
3
|
|
3
|
10
|
5
|
8
|
|
2
|
15
|
13
|
Profit before impairment
|
555
|
|
523
|
419
|
416
|
115
|
|
251
|
259
|
246
|
Credit impairment (charges)/releases
|
(371)
|
|
(287)
|
(249)
|
(144)
|
(134)
|
|
(96)
|
(110)
|
42
|
Profit/(loss) before tax
|
184
|
|
236
|
170
|
272
|
(19)
|
|
155
|
149
|
288
|
Attributable profit/(loss)
|
139
|
|
171
|
121
|
204
|
(16)
|
|
123
|
106
|
218
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
41.8
|
|
43.2
|
43.4
|
40.2
|
34.4
|
|
33.0
|
31.6
|
30.0
|
Total assets
|
88.3
|
|
80.2
|
82.0
|
80.6
|
69.2
|
|
64.8
|
64.6
|
63.0
|
Deposits at amortised cost
|
80.6
|
|
81.8
|
83.7
|
77.9
|
71.4
|
|
69.4
|
67.5
|
67.2
|
Risk weighted assets
|
38.2
|
|
38.9
|
38.7
|
36.2
|
31.6
|
|
30.2
|
30.2
|
29.0
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
10.5%
|
|
13.0%
|
9.5%
|
17.8%
|
(1.5)%
|
|
11.7%
|
10.5%
|
21.8%
|
Average allocated tangible equity (£bn)
|
5.3
|
|
5.2
|
5.1
|
4.6
|
4.3
|
|
4.2
|
4.0
|
4.0
|
Cost: income ratio
|
58%
|
|
60%
|
67%
|
62%
|
88%
|
|
72%
|
70%
|
72%
|
Loan loss rate (bps)
|
332
|
|
245
|
211
|
132
|
145
|
|
105
|
127
|
(49)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of total income
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
International Cards and Consumer Bank
|
900
|
|
860
|
824
|
691
|
538
|
|
552
|
490
|
517
|
Private Bank
|
258
|
|
285
|
270
|
245
|
214
|
|
200
|
188
|
214
|
Payments
|
148
|
|
141
|
150
|
147
|
134
|
|
126
|
130
|
109
|
Total income
|
1,306
|
|
1,286
|
1,244
|
1,083
|
886
|
|
878
|
808
|
840
|
Head Office
|
|
|
|
|
|
|
|
|
|
|
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q421
|
Q321
|
Q221
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Net interest income
|
81
|
|
(324)
|
10
|
—
|
66
|
|
(38)
|
(112)
|
(64)
|
Net fee, commission and other income
|
(87)
|
|
293
|
(40)
|
(132)
|
(43)
|
|
(11)
|
2
|
37
|
Total income
|
(6)
|
|
(31)
|
(30)
|
(132)
|
23
|
|
(49)
|
(110)
|
(27)
|
Operating costs
|
(63)
|
|
(97)
|
(94)
|
(60)
|
(85)
|
|
(152)
|
(95)
|
(341)
|
UK bank levy
|
—
|
|
(17)
|
—
|
—
|
—
|
|
—
|
—
|
—
|
Litigation and conduct
|
—
|
|
1
|
(54)
|
1
|
(1)
|
|
(3)
|
(19)
|
16
|
Total operating expenses
|
(63)
|
|
(113)
|
(148)
|
(59)
|
(86)
|
|
(155)
|
(114)
|
(325)
|
Other net (expenses)/income
|
(8)
|
|
4
|
(10)
|
2
|
(18)
|
|
11
|
78
|
8
|
Loss before impairment
|
(77)
|
|
(140)
|
(188)
|
(189)
|
(81)
|
|
(193)
|
(146)
|
(344)
|
Credit impairment (charges)/releases
|
(7)
|
|
(13)
|
(5)
|
9
|
8
|
|
(5)
|
(1)
|
6
|
Loss before tax
|
(84)
|
|
(153)
|
(193)
|
(180)
|
(73)
|
|
(198)
|
(147)
|
(338)
|
Attributable (loss)/profit
|
(80)
|
|
(63)
|
(173)
|
(170)
|
(292)
|
|
(159)
|
(134)
|
120
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Total assets
|
19.1
|
|
19.2
|
18.7
|
19.8
|
19.9
|
|
19.0
|
18.5
|
18.3
|
Risk
weighted assets1
|
8.8
|
|
8.6
|
8.2
|
8.6
|
11.0
|
|
11.0
|
11.8
|
12.0
|
Period
end allocated tangible equity1
|
0.2
|
|
(0.2)
|
(3.5)
|
1.1
|
3.6
|
|
5.5
|
6.3
|
5.9
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures1
|
|
|
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
0.2
|
|
(2.4)
|
(0.4)
|
1.7
|
3.6
|
|
5.1
|
6.5
|
4.2
|
1
|
The comparative capital and financial metrics relating to Q221 -
Q421 have been restated to reflect the impact of the Over-issuance
of Securities.
|
Margins and balances
|
||||||
|
Three months ended 31.03.23
|
Three months ended 31.03.22
|
||||
|
Net interest income
|
Average customer assets
|
Net interest margin
|
Net interest income
|
Average customer assets
|
Net interest margin
|
|
£m
|
£m
|
%
|
£m
|
£m
|
%
|
Barclays UK
|
1,618
|
206,241
|
3.18
|
1,339
|
207,607
|
2.62
|
Corporate
and Investment Bank1
|
551
|
56,612
|
3.95
|
316
|
50,798
|
2.52
|
Consumer, Cards and Payments
|
889
|
42,840
|
8.42
|
551
|
34,040
|
6.56
|
Barclays
International1
|
1,440
|
99,452
|
5.87
|
867
|
84,838
|
4.15
|
Total Barclays UK and Barclays International
|
3,058
|
305,693
|
4.06
|
2,206
|
292,445
|
3.06
|
Other2
|
(5)
|
|
|
135
|
|
|
Total Barclays Group
|
3,053
|
|
|
2,341
|
|
|
1
|
CIB and Barclays International margins include the lending related
investment bank business.
|
2
|
Other includes Head Office and the non-lending related investment
bank 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 31.12.22
|
£m
|
£m
|
%
|
Barclays UK
|
1,600
|
204,941
|
3.10
|
Corporate and Investment Bank
|
556
|
59,146
|
3.73
|
Consumer, Cards and Payments
|
918
|
43,319
|
8.40
|
Barclays
International1
|
1,474
|
102,465
|
5.71
|
Total Barclays UK and Barclays International
|
3,074
|
307,406
|
3.97
|
|
|
|
|
Three months ended 30.09.22
|
|
|
|
Barclays UK
|
1,561
|
205,881
|
3.01
|
Corporate and Investment Bank
|
529
|
58,891
|
3.56
|
Consumer, Cards and Payments
|
891
|
42,019
|
8.41
|
Barclays
International1
|
1,420
|
100,910
|
5.58
|
Total Barclays UK and Barclays International
|
2,981
|
306,791
|
3.85
|
|
|
|
|
Three months ended 30.06.22
|
|
|
|
Barclays UK
|
1,393
|
205,834
|
2.71
|
Corporate and Investment Bank
|
397
|
55,181
|
2.88
|
Consumer, Cards and Payments
|
619
|
37,190
|
6.68
|
Barclays
International1
|
1,016
|
92,371
|
4.41
|
Total Barclays UK and Barclays International
|
2,409
|
298,205
|
3.24
|
|
|
|
|
Three months ended 31.03.22
|
|
|
|
Barclays UK
|
1,339
|
207,607
|
2.62
|
Corporate and Investment Bank
|
316
|
50,798
|
2.52
|
Consumer, Cards and Payments
|
551
|
34,040
|
6.56
|
Barclays
International1
|
867
|
84,838
|
4.15
|
Total Barclays UK and Barclays International
|
2,206
|
292,445
|
3.06
|
1
|
CIB and Barclays International margins include the lending related
investment bank business.
|
|
Gross exposure
|
|
Impairment allowance
|
Net exposure
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
As at 31.03.23
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
163,313
|
25,272
|
2,453
|
191,038
|
|
272
|
729
|
489
|
1,490
|
189,548
|
Barclays International
|
32,359
|
4,615
|
1,855
|
38,829
|
|
373
|
1,243
|
1,065
|
2,681
|
36,148
|
Head Office
|
3,435
|
281
|
577
|
4,293
|
|
3
|
26
|
324
|
353
|
3,940
|
Total Barclays Group retail
|
199,107
|
30,168
|
4,885
|
234,160
|
|
648
|
1,998
|
1,878
|
4,524
|
229,636
|
Barclays UK
|
34,603
|
3,086
|
790
|
38,479
|
|
74
|
110
|
91
|
275
|
38,204
|
Barclays International
|
122,198
|
12,971
|
1,232
|
136,401
|
|
279
|
240
|
401
|
920
|
135,481
|
Head Office
|
227
|
—
|
17
|
244
|
|
—
|
—
|
17
|
17
|
227
|
Total Barclays Group wholesale1
|
157,028
|
16,057
|
2,039
|
175,124
|
|
353
|
350
|
509
|
1,212
|
173,912
|
Total loans and advances at amortised cost
|
356,135
|
46,225
|
6,924
|
409,284
|
|
1,001
|
2,348
|
2,387
|
5,736
|
403,548
|
Off-balance
sheet loan commitments and financial guarantee
contracts2
|
368,634
|
26,320
|
1,175
|
396,129
|
|
225
|
307
|
22
|
554
|
395,575
|
Total3
|
724,769
|
72,545
|
8,099
|
805,413
|
|
1,226
|
2,655
|
2,409
|
6,290
|
799,123
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 31.03.23
|
|
Three months ended 31.03.23
|
|
||||||
|
Coverage ratio
|
|
Loan impairment charge/(release) and loan loss rate
|
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Loan impairment charge/(release)
|
Loan loss rate
|
|
||
|
%
|
%
|
%
|
%
|
|
£m
|
bps
|
|
||
Barclays UK
|
0.2
|
2.9
|
19.9
|
0.8
|
|
|
147
|
|
31
|
|
Barclays International
|
1.2
|
26.9
|
57.4
|
6.9
|
|
|
368
|
|
384
|
|
Head Office
|
0.1
|
9.3
|
56.2
|
8.2
|
|
|
7
|
|
66
|
|
Total Barclays Group retail
|
0.3
|
6.6
|
38.4
|
1.9
|
|
|
522
|
|
90
|
|
Barclays UK
|
0.2
|
3.6
|
11.5
|
0.7
|
|
|
(41)
|
|
|
|
Barclays International
|
0.2
|
1.9
|
32.5
|
0.7
|
|
|
61
|
|
18
|
|
Head Office
|
—
|
—
|
100.0
|
7.0
|
|
|
—
|
|
|
|
Total Barclays Group wholesale1
|
0.2
|
2.2
|
25.0
|
0.7
|
|
|
20
|
|
5
|
|
Total loans and advances at amortised cost
|
0.3
|
5.1
|
34.5
|
1.4
|
|
|
542
|
|
54
|
|
Off-balance
sheet loan commitments and financial guarantee
contracts2
|
0.1
|
1.2
|
1.9
|
0.1
|
|
|
(16)
|
|
|
|
Other
financial assets subject to impairment3
|
|
|
|
|
|
|
(2)
|
|
|
|
Total4
|
0.2
|
3.7
|
29.7
|
0.8
|
|
|
524
|
|
|
|
1
|
Includes Wealth UK and Private Banking exposures measured on an
individual customer exposure basis and excludes Business Banking
exposures, including lending under the government backed Bounce
Back Loan Scheme (BBLS) of £6bn that are managed on a
collective basis and reported within Barclays UK Retail. The net
impact is a difference in total exposure of £3.4bn of balances
reported as wholesale loans on page 24 in the Loans and advances at
amortised cost by product disclosure.
|
2
|
Excludes loan commitments and financial guarantees of £12.4bn
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
£197.8bn and impairment allowance of £151m. This
comprises £10m ECL on £196.2bn Stage 1 assets, £8m
on £1.4bn Stage 2 fair value through other comprehensive
income assets, cash collateral and settlement balances and
£133m on £146m Stage 3 other assets.
|
4
|
The annualised loan loss rate is 52bps after applying the total
impairment charge of £524m.
|
|
Gross exposure
|
|
Impairment allowance
|
Net exposure
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
As at 31.12.22
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
160,424
|
24,837
|
2,711
|
187,972
|
|
232
|
718
|
485
|
1,435
|
186,537
|
Barclays International
|
33,735
|
4,399
|
1,793
|
39,927
|
|
392
|
1,200
|
949
|
2,541
|
37,386
|
Head Office
|
3,644
|
252
|
661
|
4,557
|
|
3
|
24
|
359
|
386
|
4,171
|
Total Barclays Group retail
|
197,803
|
29,488
|
5,165
|
232,456
|
|
627
|
1,942
|
1,793
|
4,362
|
228,094
|
Barclays UK
|
34,858
|
2,954
|
805
|
38,617
|
|
129
|
109
|
96
|
334
|
38,283
|
Barclays International
|
117,692
|
14,298
|
1,098
|
133,088
|
|
301
|
265
|
312
|
878
|
132,210
|
Head Office
|
192
|
—
|
18
|
210
|
|
—
|
—
|
18
|
18
|
192
|
Total Barclays Group wholesale1
|
152,742
|
17,252
|
1,921
|
171,915
|
|
430
|
374
|
426
|
1,230
|
170,685
|
Total loans and advances at amortised cost
|
350,545
|
46,740
|
7,086
|
404,371
|
|
1,057
|
2,316
|
2,219
|
5,592
|
398,779
|
Off-balance
sheet loan commitments and financial guarantee
contracts2
|
372,945
|
30,694
|
1,180
|
404,819
|
|
245
|
315
|
23
|
583
|
404,236
|
Total3
|
723,490
|
77,434
|
8,266
|
809,190
|
|
1,302
|
2,631
|
2,242
|
6,175
|
803,015
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 31.12.22
|
|
Year ended 31.12.22
|
|
||||||
|
Coverage ratio
|
|
Loan impairment charge/(release) and loan loss rate
|
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Loan impairment charge/(release)
|
Loan loss rate
|
|
||
|
%
|
%
|
%
|
%
|
|
£m
|
bps
|
|
||
Barclays UK
|
0.1
|
2.9
|
17.9
|
0.8
|
|
|
169
|
|
9
|
|
Barclays International
|
1.2
|
27.3
|
52.9
|
6.4
|
|
|
763
|
|
191
|
|
Head Office
|
0.1
|
9.5
|
54.3
|
8.5
|
|
|
—
|
|
|
|
Total Barclays Group retail
|
0.3
|
6.6
|
34.7
|
1.9
|
|
|
932
|
|
40
|
|
Barclays UK
|
0.4
|
3.7
|
11.9
|
0.9
|
|
|
106
|
|
27
|
|
Barclays International
|
0.3
|
1.9
|
28.4
|
0.7
|
|
|
127
|
|
10
|
|
Head Office
|
—
|
—
|
100.0
|
8.6
|
|
|
—
|
|
|
|
Total Barclays Group wholesale1
|
0.3
|
2.2
|
22.2
|
0.7
|
|
|
233
|
|
14
|
|
Total loans and advances at amortised cost
|
0.3
|
5.0
|
31.3
|
1.4
|
|
|
1,165
|
|
29
|
|
Off-balance
sheet loan commitments and financial guarantee
contracts2
|
0.1
|
1.0
|
1.9
|
0.1
|
|
|
18
|
|
|
|
Other
financial assets subject to impairment3
|
|
|
|
|
|
|
37
|
|
|
|
Total4
|
0.2
|
3.4
|
27.1
|
0.8
|
|
|
1,220
|
|
|
|
1
|
Includes Wealth UK and Private Banking
exposures measured on an individual customer exposure basis and
excludes Business Banking exposures, including lending under the
government backed Bounce Back Loan Scheme (BBLS) of
£6.6bn that are managed on
a collective basis and reported within Barclays UK Retail. The net
impact is a difference in total exposure of £3.8bn of balances reported as
wholesale loans on page 24 in the Loans and advances at amortised
cost by product disclosure.
|
2
|
Excludes loan commitments and financial guarantees of £14.9bn 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 £180.1bn and impairment allowance of
£163m. This comprises
£10m ECL on £178.4bn Stage 1 assets, £9m on £1.5bn Stage 2 fair value through
other comprehensive income assets,
cash collateral and settlement balances and £144m on
£149m Stage 3 other assets.
|
4
|
The annualised loan loss rate is 30bps after applying the total
impairment charge of £1,220m.
|
|
|
Stage 2
|
|
|
|||
As at 31.03.23
|
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
|
156,635
|
16,371
|
1,941
|
747
|
19,059
|
2,323
|
178,017
|
Credit cards, unsecured loans and other retail lending
|
42,655
|
7,227
|
377
|
439
|
8,043
|
2,012
|
52,710
|
Wholesale loans
|
156,845
|
18,840
|
157
|
126
|
19,123
|
2,589
|
178,557
|
Total
|
356,135
|
42,438
|
2,475
|
1,312
|
46,225
|
6,924
|
409,284
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Home loans
|
33
|
53
|
13
|
9
|
75
|
412
|
520
|
Credit cards, unsecured loans and other retail lending
|
558
|
1,541
|
145
|
196
|
1,882
|
1,349
|
3,789
|
Wholesale loans
|
410
|
388
|
3
|
—
|
391
|
626
|
1,427
|
Total
|
1,001
|
1,982
|
161
|
205
|
2,348
|
2,387
|
5,736
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Home loans
|
156,602
|
16,318
|
1,928
|
738
|
18,984
|
1,911
|
177,497
|
Credit cards, unsecured loans and other retail lending
|
42,097
|
5,686
|
232
|
243
|
6,161
|
663
|
48,921
|
Wholesale loans
|
156,435
|
18,452
|
154
|
126
|
18,732
|
1,963
|
177,130
|
Total
|
355,134
|
40,456
|
2,314
|
1,107
|
43,877
|
4,537
|
403,548
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Home loans
|
—
|
0.3
|
0.7
|
1.2
|
0.4
|
17.7
|
0.3
|
Credit cards, unsecured loans and other retail lending
|
1.3
|
21.3
|
38.5
|
44.6
|
23.4
|
67.0
|
7.2
|
Wholesale loans
|
0.3
|
2.1
|
1.9
|
—
|
2.0
|
24.2
|
0.8
|
Total
|
0.3
|
4.7
|
6.5
|
15.6
|
5.1
|
34.5
|
1.4
|
|
|
|
|
|
|
|
|
As at 31.12.22
|
|
|
|
|
|
|
|
Gross exposure
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Home loans
|
153,672
|
15,990
|
1,684
|
526
|
18,200
|
2,414
|
174,286
|
Credit cards, unsecured loans and other retail lending
|
44,175
|
7,126
|
397
|
576
|
8,099
|
2,122
|
54,396
|
Wholesale loans
|
152,698
|
20,194
|
150
|
97
|
20,441
|
2,550
|
175,689
|
Total
|
350,545
|
43,310
|
2,231
|
1,199
|
46,740
|
7,086
|
404,371
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Home loans
|
29
|
53
|
11
|
9
|
73
|
414
|
516
|
Credit cards, unsecured loans and other retail lending
|
582
|
1,483
|
129
|
220
|
1,832
|
1,278
|
3,692
|
Wholesale loans
|
446
|
403
|
6
|
2
|
411
|
527
|
1,384
|
Total
|
1,057
|
1,939
|
146
|
231
|
2,316
|
2,219
|
5,592
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Home loans
|
153,643
|
15,937
|
1,673
|
517
|
18,127
|
2,000
|
173,770
|
Credit cards, unsecured loans and other retail lending
|
43,593
|
5,643
|
268
|
356
|
6,267
|
844
|
50,704
|
Wholesale loans
|
152,252
|
19,791
|
144
|
95
|
20,030
|
2,023
|
174,305
|
Total
|
349,488
|
41,371
|
2,085
|
968
|
44,424
|
4,867
|
398,779
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Home loans
|
—
|
0.3
|
0.7
|
1.7
|
0.4
|
17.1
|
0.3
|
Credit cards, unsecured loans and other retail lending
|
1.3
|
20.8
|
32.5
|
38.2
|
22.6
|
60.2
|
6.8
|
Wholesale loans
|
0.3
|
2.0
|
4.0
|
2.1
|
2.0
|
20.7
|
0.8
|
Total
|
0.3
|
4.5
|
6.5
|
19.3
|
5.0
|
31.3
|
1.4
|
Baseline average macroeconomic variables used in the calculation of
ECL
|
|||||
|
2023
|
2024
|
2025
|
2026
|
2027
|
As at 31.03.23
|
%
|
%
|
%
|
%
|
%
|
UK
GDP1
|
(0.6)
|
0.5
|
1.6
|
1.9
|
1.8
|
UK
unemployment2
|
4.3
|
4.6
|
4.2
|
4.2
|
4.2
|
UK
HPI3
|
(4.2)
|
(2.5)
|
1.7
|
2.2
|
2.2
|
UK bank rate
|
4.2
|
4.3
|
3.8
|
3.6
|
3.3
|
US
GDP1
|
0.4
|
0.9
|
1.5
|
1.5
|
1.5
|
US
unemployment4
|
4.1
|
4.7
|
4.7
|
4.7
|
4.7
|
US
HPI5
|
1.5
|
1.5
|
2.1
|
2.4
|
2.4
|
US federal funds rate
|
4.7
|
3.9
|
3.2
|
3.0
|
3.0
|
|
2022
|
2023
|
2024
|
2025
|
2026
|
As at 31.12.22
|
%
|
%
|
%
|
%
|
%
|
UK
GDP1
|
3.3
|
(0.8)
|
0.9
|
1.8
|
1.9
|
UK
unemployment2
|
3.7
|
4.5
|
4.4
|
4.1
|
4.2
|
UK
HPI3
|
8.4
|
(4.7)
|
(1.7)
|
2.2
|
2.2
|
UK bank rate
|
1.8
|
4.4
|
4.1
|
3.8
|
3.4
|
US
GDP1
|
1.8
|
0.5
|
1.2
|
1.5
|
1.5
|
US
unemployment4
|
3.7
|
4.3
|
4.7
|
4.7
|
4.7
|
US
HPI5
|
11.2
|
1.8
|
1.5
|
2.3
|
2.4
|
US federal funds rate
|
2.1
|
4.8
|
3.6
|
3.1
|
3.0
|
1
|
Average Real GDP seasonally adjusted change in year.
|
2
|
Average UK unemployment rate 16-year+.
|
3
|
Change in year end UK HPI = Halifax All Houses, All Buyers index,
relative to prior year end.
|
4
|
Average US civilian unemployment rate 16-year+.
|
5
|
Change in year end US HPI = FHFA House Price Index, relative to
prior year end.
|
Downside 2 average economic variables used in the calculation of
ECL
|
|||||
|
2023
|
2024
|
2025
|
2026
|
2027
|
As at 31.03.23
|
%
|
%
|
%
|
%
|
%
|
UK
GDP1
|
(2.0)
|
(4.8)
|
1.0
|
2.4
|
1.9
|
UK
unemployment2
|
5.0
|
8.2
|
8.1
|
7.5
|
6.9
|
UK
HPI3
|
(13.6)
|
(19.6)
|
(13.9)
|
8.2
|
8.2
|
UK bank rate
|
6.1
|
8.0
|
6.9
|
5.8
|
4.5
|
US
GDP1
|
(1.3)
|
(4.5)
|
1.0
|
2.8
|
1.8
|
US
unemployment4
|
4.9
|
8.4
|
8.3
|
7.3
|
6.2
|
US
HPI5
|
(2.1)
|
(3.9)
|
(4.1)
|
4.8
|
4.8
|
US federal funds rate
|
5.9
|
7.0
|
6.1
|
4.9
|
3.8
|
|
2022
|
2023
|
2024
|
2025
|
2026
|
As at 31.12.22
|
%
|
%
|
%
|
%
|
%
|
UK
GDP1
|
3.3
|
(3.4)
|
(3.8)
|
2.0
|
2.3
|
UK
unemployment2
|
3.7
|
6.0
|
8.4
|
8.0
|
7.4
|
UK
HPI3
|
8.4
|
(18.3)
|
(18.8)
|
(7.7)
|
8.2
|
UK bank rate
|
1.8
|
7.3
|
7.9
|
6.6
|
5.5
|
US
GDP1
|
1.8
|
(2.7)
|
(3.4)
|
2.0
|
2.6
|
US
unemployment4
|
3.7
|
6.0
|
8.5
|
8.1
|
7.1
|
US
HPI5
|
11.2
|
(3.1)
|
(4.0)
|
(1.9)
|
4.8
|
US federal funds rate
|
2.1
|
6.6
|
6.9
|
5.8
|
4.6
|
1
|
Average Real GDP seasonally adjusted change in year.
|
2
|
Average UK unemployment rate 16-year+.
|
3
|
Change in year end UK HPI = Halifax All Houses, All Buyers index,
relative to prior year end.
|
4
|
Average US civilian unemployment rate 16-year+.
|
5
|
Change in year end US HPI = FHFA House Price Index, relative to
prior year end.
|
Downside 1 average economic variables used in the calculation of
ECL
|
|||||
|
2023
|
2024
|
2025
|
2026
|
2027
|
As at 31.03.23
|
%
|
%
|
%
|
%
|
%
|
UK
GDP1
|
(1.3)
|
(2.2)
|
1.3
|
2.2
|
1.8
|
UK
unemployment2
|
4.6
|
6.4
|
6.1
|
5.8
|
5.5
|
UK
HPI3
|
(9.0)
|
(11.3)
|
(6.3)
|
5.2
|
5.2
|
UK bank rate
|
5.2
|
6.2
|
5.4
|
4.8
|
3.9
|
US
GDP1
|
(0.4)
|
(1.8)
|
1.2
|
2.2
|
1.7
|
US
unemployment4
|
4.5
|
6.5
|
6.5
|
6.0
|
5.4
|
US
HPI5
|
(0.3)
|
(1.2)
|
(1.0)
|
3.6
|
3.6
|
US federal funds rate
|
5.4
|
5.6
|
4.6
|
4.0
|
3.4
|
|
2022
|
2023
|
2024
|
2025
|
2026
|
As at 31.12.22
|
%
|
%
|
%
|
%
|
%
|
UK
GDP1
|
3.3
|
(2.1)
|
(1.5)
|
1.9
|
2.1
|
UK
unemployment2
|
3.7
|
5.2
|
6.4
|
6.0
|
5.8
|
UK
HPI3
|
8.4
|
(11.7)
|
(10.6)
|
(2.8)
|
5.2
|
UK bank rate
|
1.8
|
5.9
|
6.1
|
5.3
|
4.6
|
US
GDP1
|
1.8
|
(1.1)
|
(1.1)
|
1.7
|
2.1
|
US
unemployment4
|
3.7
|
5.1
|
6.6
|
6.4
|
5.9
|
US
HPI5
|
11.2
|
(0.7)
|
(1.3)
|
0.2
|
3.6
|
US federal funds rate
|
2.1
|
5.8
|
5.4
|
4.4
|
3.9
|
1
|
Average Real GDP seasonally adjusted change in year.
|
2
|
Average UK unemployment rate 16-year+.
|
3
|
Change in year end UK HPI = Halifax All Houses, All Buyers index,
relative to prior year end.
|
4
|
Average US civilian unemployment rate 16-year+.
|
5
|
Change in year end US HPI = FHFA House Price Index, relative to
prior year end.
|
Upside 2 average economic variables used in the calculation of
ECL
|
|||||
|
2023
|
2024
|
2025
|
2026
|
2027
|
As at 31.03.23
|
%
|
%
|
%
|
%
|
%
|
UK
GDP1
|
1.7
|
4.1
|
3.1
|
2.5
|
2.3
|
UK
unemployment2
|
3.6
|
3.4
|
3.4
|
3.4
|
3.4
|
UK
HPI3
|
5.3
|
9.6
|
4.3
|
4.3
|
3.5
|
UK bank rate
|
3.3
|
2.8
|
2.5
|
2.5
|
2.5
|
US
GDP1
|
2.3
|
3.8
|
2.9
|
2.8
|
2.8
|
US
unemployment4
|
3.4
|
3.3
|
3.3
|
3.3
|
3.3
|
US
HPI5
|
4.6
|
5.3
|
4.5
|
4.5
|
4.5
|
US federal funds rate
|
3.8
|
3.1
|
2.8
|
2.8
|
2.8
|
|
2022
|
2023
|
2024
|
2025
|
2026
|
As at 31.12.22
|
%
|
%
|
%
|
%
|
%
|
UK
GDP1
|
3.3
|
2.8
|
3.7
|
2.9
|
2.4
|
UK
unemployment2
|
3.7
|
3.5
|
3.4
|
3.4
|
3.4
|
UK
HPI3
|
8.4
|
8.7
|
7.5
|
4.4
|
4.2
|
UK bank rate
|
1.8
|
3.1
|
2.6
|
2.5
|
2.5
|
US
GDP1
|
1.8
|
3.3
|
3.5
|
2.8
|
2.8
|
US
unemployment4
|
3.7
|
3.3
|
3.3
|
3.3
|
3.3
|
US
HPI5
|
11.2
|
5.8
|
5.1
|
4.5
|
4.5
|
US federal funds rate
|
2.1
|
3.6
|
2.9
|
2.8
|
2.8
|
1
|
Average Real GDP seasonally adjusted change in year.
|
2
|
Average UK unemployment rate 16-year+.
|
3
|
Change in year end UK HPI = Halifax All Houses, All Buyers index,
relative to prior year end.
|
4
|
Average US civilian unemployment rate 16-year+.
|
5
|
Change in year end US HPI = FHFA House Price Index, relative to
prior year end.
|
Upside 1 average economic variables used in the calculation of
ECL
|
|||||
|
2023
|
2024
|
2025
|
2026
|
2027
|
As at 31.03.23
|
%
|
%
|
%
|
%
|
%
|
UK
GDP1
|
0.5
|
2.2
|
2.3
|
2.2
|
2.1
|
UK
unemployment2
|
3.9
|
4.0
|
3.8
|
3.8
|
3.8
|
UK
HPI3
|
0.5
|
3.4
|
3.0
|
3.3
|
2.8
|
UK bank rate
|
3.5
|
3.3
|
3.1
|
2.8
|
2.8
|
US
GDP1
|
1.4
|
2.4
|
2.2
|
2.2
|
2.2
|
US
unemployment4
|
3.7
|
4.0
|
4.0
|
4.0
|
4.0
|
US
HPI5
|
3.0
|
3.4
|
3.3
|
3.4
|
3.4
|
US federal funds rate
|
4.1
|
3.6
|
3.0
|
3.0
|
3.0
|
|
2022
|
2023
|
2024
|
2025
|
2026
|
As at 31.12.22
|
%
|
%
|
%
|
%
|
%
|
UK
GDP1
|
3.3
|
1.0
|
2.3
|
2.4
|
2.1
|
UK
unemployment2
|
3.7
|
4.0
|
3.9
|
3.8
|
3.8
|
UK
HPI3
|
8.4
|
1.8
|
2.9
|
3.3
|
3.2
|
UK bank rate
|
1.8
|
3.5
|
3.3
|
3.0
|
2.8
|
US
GDP1
|
1.8
|
1.9
|
2.3
|
2.2
|
2.2
|
US
unemployment4
|
3.7
|
3.8
|
4.0
|
4.0
|
4.0
|
US
HPI5
|
11.2
|
3.8
|
3.3
|
3.4
|
3.4
|
US federal funds rate
|
2.1
|
3.9
|
3.4
|
3.0
|
3.0
|
1
|
Average Real GDP seasonally adjusted change in year.
|
2
|
Average UK unemployment rate 16-year+.
|
3
|
Change in year end UK HPI = Halifax All Houses, All Buyers index,
relative to prior year end.
|
4
|
Average US civilian unemployment rate 16-year+.
|
5
|
Change in year end US HPI = FHFA House Price Index, relative to
prior year end.
|
Scenario probability weighting
|
|||||
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
|
%
|
%
|
%
|
%
|
%
|
As at 31.03.23
|
|
|
|
|
|
Scenario probability weighting
|
10.9
|
23.1
|
39.4
|
17.6
|
9.0
|
As at 31.12.22
|
|
|
|
|
|
Scenario probability weighting
|
10.9
|
23.1
|
39.4
|
17.6
|
9.0
|
Capital ratios1,2
|
As at 31.03.23
|
As at 31.12.22
|
CET1
|
13.6%
|
13.9%
|
T1
|
17.6%
|
17.9%
|
Total regulatory capital
|
20.2%
|
20.8%
|
|
|
|
Capital resources
|
£m
|
£m
|
Total equity excluding non-controlling interests per the balance
sheet
|
69,699
|
68,292
|
Less: other equity instruments (recognised as AT1
capital)
|
(13,784)
|
(13,284)
|
Adjustment to retained earnings for foreseeable ordinary share
dividends
|
(338)
|
(787)
|
Adjustment to retained earnings for foreseeable repurchase of
shares
|
(224)
|
—
|
Adjustment to retained earnings for foreseeable other equity
coupons
|
(52)
|
(37)
|
|
|
|
Other regulatory adjustments and deductions
|
|
|
Additional value adjustments (PVA)
|
(1,913)
|
(1,726)
|
Goodwill and intangible assets
|
(8,642)
|
(8,224)
|
Deferred tax assets that rely on future profitability excluding
temporary differences
|
(1,435)
|
(1,500)
|
Fair value reserves related to gains or losses on cash flow
hedges
|
6,164
|
7,237
|
Excess of expected losses over impairment
|
(232)
|
(119)
|
Gains or losses on liabilities at fair value resulting from own
credit
|
(86)
|
(620)
|
Defined benefit pension fund assets
|
(3,593)
|
(3,430)
|
Direct and indirect holdings by an institution of own CET1
instruments
|
(20)
|
(20)
|
Adjustment under IFRS 9 transitional arrangements
|
245
|
700
|
Other regulatory adjustments
|
196
|
396
|
CET1 capital
|
45,985
|
46,878
|
|
|
|
AT1 capital
|
|
|
Capital instruments and related share premium accounts
|
13,784
|
13,284
|
Other regulatory adjustments and deductions
|
(60)
|
(60)
|
AT1 capital
|
13,724
|
13,224
|
|
|
|
T1 capital
|
59,709
|
60,102
|
|
|
|
T2 capital
|
|
|
Capital instruments and related share premium accounts
|
7,538
|
9,000
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries
|
1,061
|
1,095
|
Credit risk adjustments (excess of impairment over expected
losses)
|
66
|
35
|
Other regulatory adjustments and deductions
|
(160)
|
(160)
|
Total regulatory capital
|
68,214
|
70,072
|
|
|
|
Total RWAs
|
338,448
|
336,518
|
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 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 13.5%,
with £45.7bn of CET1 capital and £338.4bn of RWAs
calculated without applying the transitional arrangements of the
CRR as amended by CRR II.
|
Movement in CET1 capital
|
Three months ended 31.03.23
|
|
£m
|
Opening CET1 capital
|
46,878
|
|
|
Profit for the period attributable to equity holders
|
2,029
|
Own credit relating to derivative liabilities
|
(6)
|
Ordinary share dividends paid and foreseen
|
(344)
|
Purchased and foreseeable share repurchase
|
(500)
|
Other equity coupons paid and foreseen
|
(261)
|
Increase in retained regulatory capital generated from
earnings
|
918
|
|
|
Net impact of share schemes
|
(290)
|
Fair value through other comprehensive income reserve
|
149
|
Currency translation reserve
|
(531)
|
Other reserves
|
2
|
Decrease in other qualifying reserves
|
(670)
|
|
|
Pension remeasurements within reserves
|
135
|
Defined benefit pension fund asset deduction
|
(163)
|
Net impact of pensions
|
(28)
|
|
|
Additional value adjustments (PVA)
|
(187)
|
Goodwill and intangible assets
|
(418)
|
Deferred tax assets that rely on future profitability excluding
those arising from temporary differences
|
65
|
Excess of expected loss over impairment
|
(113)
|
Adjustment under IFRS 9 transitional arrangements
|
(455)
|
Other regulatory adjustments
|
(5)
|
Decrease in regulatory capital due to adjustments and
deductions
|
(1,113)
|
|
|
Closing CET1 capital
|
45,985
|
CET1 capital decreased £0.9bn to £46.0bn (December 2022:
£46.9bn).
|
|
£2.0bn of capital generated from profit was partially offset
by distributions of £1.1bn comprising:
|
|
●
|
£0.5bn of buybacks announced with FY22 results
|
●
|
£0.3bn accrual towards a FY23 dividend
|
●
|
£0.3bn of equity coupons paid and foreseen
|
Other significant movements in the period were:
|
|
●
|
£0.5bn decrease in the currency translation reserve driven by
the depreciation of period end USD against GBP
|
●
|
£0.4bn increase in the goodwill and intangibles deduction
primarily as a result of the acquisition of KMC
|
●
|
£0.5bn decrease in IFRS 9 transitional relief primarily due to
the relief applied to the pre-2020 impairment charge reducing to 0%
in 2023 from 25% in 2022 and the relief applied to the post-2022
impairment charge reducing to 50% in 2023 from 75% in
2022.
|
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 31.03.23
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
Barclays UK
|
7,816
|
55,174
|
|
246
|
—
|
—
|
115
|
|
196
|
—
|
|
11,054
|
74,601
|
Corporate and Investment Bank
|
33,904
|
75,225
|
|
17,014
|
21,692
|
237
|
2,811
|
|
15,734
|
23,136
|
|
27,093
|
216,846
|
Consumer, Cards and Payments
|
26,511
|
4,343
|
|
205
|
45
|
—
|
60
|
|
—
|
525
|
|
6,527
|
38,216
|
Barclays International
|
60,415
|
79,568
|
|
17,219
|
21,737
|
237
|
2,871
|
|
15,734
|
23,661
|
|
33,620
|
255,062
|
Head Office
|
2,578
|
7,016
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
|
(809)
|
8,785
|
Barclays Group
|
70,809
|
141,758
|
|
17,465
|
21,737
|
237
|
2,986
|
|
15,930
|
23,661
|
|
43,865
|
338,448
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 31.12.22
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
6,836
|
54,752
|
|
167
|
—
|
—
|
72
|
|
233
|
—
|
|
11,023
|
73,083
|
Corporate and Investment Bank
|
35,738
|
75,413
|
|
16,814
|
21,449
|
80
|
3,093
|
|
13,716
|
22,497
|
|
27,064
|
215,864
|
Consumer, Cards and Payments
|
27,882
|
3,773
|
|
214
|
46
|
—
|
61
|
|
—
|
388
|
|
6,559
|
38,923
|
Barclays International
|
63,620
|
79,186
|
|
17,028
|
21,495
|
80
|
3,154
|
|
13,716
|
22,885
|
|
33,623
|
254,787
|
Head Office
|
2,636
|
6,843
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
|
(831)
|
8,648
|
Barclays Group
|
73,092
|
140,781
|
|
17,195
|
21,495
|
80
|
3,226
|
|
13,949
|
22,885
|
|
43,815
|
336,518
|
Movement analysis of RWAs
|
Credit risk
|
Counterparty credit risk
|
Market risk
|
Operational risk
|
Total RWAs
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Opening RWAs (as at 31.12.22)
|
213,873
|
41,996
|
36,834
|
43,815
|
336,518
|
Book size
|
(1,091)
|
1,189
|
3,051
|
50
|
3,199
|
Acquisitions and disposals
|
688
|
—
|
—
|
—
|
688
|
Book quality
|
1,039
|
134
|
—
|
—
|
1,173
|
Model updates
|
—
|
—
|
—
|
—
|
—
|
Methodology and policy
|
640
|
267
|
—
|
—
|
907
|
Foreign
exchange movements1
|
(2,582)
|
(1,161)
|
(294)
|
—
|
(4,037)
|
Total RWA movements
|
(1,306)
|
429
|
2,757
|
50
|
1,930
|
Closing RWAs (as at 31.03.23)
|
212,567
|
42,425
|
39,591
|
43,865
|
338,448
|
1
|
Foreign exchange movements does not include the impact of foreign
exchange for modelled market risk or operational risk.
|
Overall RWAs increased £1.9bn to £338.4bn (December 2022:
£336.5bn)
|
|
Credit risk RWAs decreased £1.3bn:
|
|
●
|
A £1.1bn decrease in book size primarily driven by business
activities within CIB
|
●
|
A £1.0bn increase in book quality RWAs driven by an increase
in mortgages due to HPI refresh and a deterioration in credit
quality within CIB
|
●
|
A £2.6bn decrease in FX primarily due to the depreciation of
period end USD against GBP
|
Counterparty Credit risk RWAs increased £0.4bn:
|
|
●
|
A £1.2bn increase in book size primarily due to an increase in
SFT client and trading activity within Global Markets
|
●
|
A £1.2bn decrease in FX primarily due to the depreciation of
period end USD against GBP
|
Market risk RWAs increased £2.8bn:
|
|
●
|
A £3.1bn increase in book size primarily due to increased
client and trading activity within Global Markets
|
Leverage ratios1,2
|
As at 31.03.23
|
As at 31.12.22
|
£m
|
£m
|
|
Average UK leverage ratio
|
4.8%
|
4.8%
|
Average T1 capital
|
59,488
|
60,865
|
Average UK leverage exposure
|
1,251,286
|
1,280,972
|
|
|
|
UK leverage ratio
|
5.1%
|
5.3%
|
|
|
|
CET1 capital
|
45,985
|
46,878
|
AT1 capital
|
13,724
|
13,224
|
T1 capital
|
59,709
|
60,102
|
|
|
|
UK leverage exposure
|
1,168,899
|
1,129,973
|
|
|
|
UK leverage exposure
|
|
|
Accounting assets
|
|
|
Derivative financial instruments
|
257,439
|
302,380
|
Derivative cash collateral
|
64,899
|
69,048
|
Securities financing transactions (SFT)
|
229,182
|
189,637
|
Loans and advances and other assets
|
987,530
|
952,634
|
Total IFRS assets
|
1,539,050
|
1,513,699
|
|
|
|
Regulatory consolidation adjustments
|
(6,998)
|
(8,278)
|
|
|
|
Derivatives adjustments
|
|
|
Derivatives netting
|
(217,312)
|
(256,309)
|
Adjustments to collateral
|
(50,131)
|
(52,715)
|
Net written credit protection
|
18,354
|
16,190
|
Potential future exposure (PFE) on derivatives
|
85,893
|
84,168
|
Total derivatives adjustments
|
(163,196)
|
(208,666)
|
|
|
|
SFT adjustments
|
25,787
|
24,203
|
|
|
|
Regulatory deductions and other adjustments
|
(21,984)
|
(21,447)
|
|
|
|
Weighted off-balance sheet commitments
|
120,754
|
124,169
|
|
|
|
Qualifying central bank claims
|
(280,346)
|
(272,321)
|
|
|
|
Settlement netting
|
(44,168)
|
(21,386)
|
|
|
|
UK leverage exposure
|
1,168,899
|
1,129,973
|
1
|
Capital and leverage measures are calculated applying the
transitional arrangements of the CRR as amended by CRR
II.
|
2
|
Fully loaded average UK leverage ratio was 4.7%, with £59.2bn of T1 capital and £1,251.0bn of leverage exposure. Fully
loaded UK leverage ratio was 5.1%, with £59.5bn of T1 capital and £1,168.7bn of leverage exposure. Fully
loaded UK leverage ratios are calculated without applying the
transitional arrangements of the CRR as amended by CRR
II.
|
MREL
|
|
|
|
|
|
MREL requirements including
buffers1,2
|
Total requirement (£m) based on
|
|
Requirement as a percentage of:
|
||
|
As at 31.03.23
|
As at 31.12.22
|
|
As at 31.03.23
|
As at 31.12.22
|
Requirement based on RWAs (minimum requirement)
|
98,167
|
97,387
|
|
29.0%
|
28.9%
|
Requirement based on UK leverage exposure
|
94,012
|
91,213
|
|
8.0%
|
8.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
Own funds and eligible
liabilities2
|
|
|
|
As at 31.03.23
|
As at 31.12.22
|
|
|
|
|
£m
|
£m
|
CET1 capital
|
|
|
|
45,985
|
46,878
|
AT1
capital instruments and related share premium accounts3
|
|
|
|
13,724
|
13,224
|
T2
capital instruments and related share premium accounts3
|
|
|
|
7,444
|
8,875
|
Eligible liabilities
|
|
|
|
43,489
|
43,851
|
Total Barclays PLC (the Parent company) own funds and eligible
liabilities
|
|
110,642
|
112,828
|
||
|
|
|
|
|
|
Total RWAs
|
|
|
|
338,448
|
336,518
|
Total UK leverage exposure
|
|
|
|
1,168,899
|
1,129,973
|
|
|
|
|
|
|
Own funds and eligible liabilities ratios as a percentage
of:
|
|
|
|
As at 31.03.23
|
As at 31.12.22
|
Total RWAs
|
|
|
|
32.7%
|
33.5%
|
Total UK leverage exposure
|
|
|
|
9.5%
|
10.0%
|
1
|
Minimum requirement excludes the confidential institution-specific
PRA buffer.
|
2
|
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 II non-compliant capital instruments.
|
3
|
Includes other AT1 capital regulatory adjustments and deductions of
£60m (December 2022: £60m), and other T2 credit risk
adjustments and deductions of £94m (December 2022:
£125m).
|
Condensed consolidated income statement (unaudited)
|
||
|
Three months ended 31.03.23
|
Three months ended 31.03.22
|
|
£m
|
£m
|
Total income
|
7,237
|
6,496
|
Operating expenses excluding litigation and conduct
|
(4,111)
|
(3,588)
|
Litigation and conduct
|
1
|
(523)
|
Operating expenses
|
(4,110)
|
(4,111)
|
Other net expenses
|
(5)
|
(10)
|
Profit before impairment
|
3,122
|
2,375
|
Credit impairment charges
|
(524)
|
(141)
|
Profit before tax
|
2,598
|
2,234
|
Tax charge
|
(561)
|
(614)
|
Profit after tax
|
2,037
|
1,620
|
|
|
|
Attributable to:
|
|
|
Equity holders of the parent
|
1,783
|
1,404
|
Other equity instrument holders
|
246
|
215
|
Total equity holders of the parent
|
2,029
|
1,619
|
Non-controlling interests
|
8
|
1
|
Profit after tax
|
2,037
|
1,620
|
|
|
|
Earnings per share
|
p
|
p
|
Basic earnings per ordinary share
|
11.3
|
8.4
|
Condensed consolidated balance sheet (unaudited)
|
||
|
As at 31.03.23
|
As at 31.12.22
|
Assets
|
£m
|
£m
|
Cash and balances at central banks
|
265,874
|
256,351
|
Cash collateral and settlement balances
|
129,622
|
112,597
|
Loans and advances at amortised cost
|
403,548
|
398,779
|
Reverse repurchase agreements and other similar secured
lending
|
771
|
776
|
Trading portfolio assets
|
137,857
|
133,813
|
Financial assets at fair value through the income
statement
|
247,965
|
213,568
|
Derivative financial instruments
|
257,439
|
302,380
|
Financial assets at fair value through other comprehensive
income
|
66,361
|
65,062
|
Investments in associates and joint ventures
|
912
|
922
|
Goodwill and intangible assets
|
8,664
|
8,239
|
Current tax assets
|
310
|
385
|
Deferred tax assets
|
6,489
|
6,991
|
Other assets
|
13,238
|
13,836
|
Total assets
|
1,539,050
|
1,513,699
|
|
|
|
Liabilities
|
|
|
Deposits at amortised cost
|
555,724
|
545,782
|
Cash collateral and settlement balances
|
117,234
|
96,927
|
Repurchase agreements and other similar secured
borrowing
|
28,386
|
27,052
|
Debt securities in issue
|
116,647
|
112,881
|
Subordinated Liabilities
|
10,072
|
11,423
|
Trading portfolio liabilities
|
90,079
|
72,924
|
Financial liabilities designated at fair value
|
289,428
|
271,637
|
Derivative financial instruments
|
247,167
|
289,620
|
Current tax liabilities
|
562
|
580
|
Deferred tax liabilities
|
17
|
16
|
Other liabilities
|
13,079
|
15,597
|
Total liabilities
|
1,468,395
|
1,444,439
|
|
|
|
Equity
|
|
|
Called up share capital and share premium
|
4,344
|
4,373
|
Other reserves
|
(1,993)
|
(2,192)
|
Retained earnings
|
53,564
|
52,827
|
Shareholders' equity attributable to ordinary shareholders of the
parent
|
55,915
|
55,008
|
Other equity instruments
|
13,784
|
13,284
|
Total equity excluding non-controlling interests
|
69,699
|
68,292
|
Non-controlling interests
|
956
|
968
|
Total equity
|
70,655
|
69,260
|
|
|
|
Total liabilities and equity
|
1,539,050
|
1,513,699
|
Condensed consolidated statement of changes in equity
(unaudited)
|
|||||||
|
Called up share capital and share premium
|
Other equity instruments
|
Other reserves
|
Retained earnings
|
Total
|
Non-controlling interests
|
Total equity
|
Three months ended 31.03.2023
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Balance as at 1 January 2023
|
4,373
|
13,284
|
(2,192)
|
52,827
|
68,292
|
968
|
69,260
|
Profit after tax
|
—
|
246
|
—
|
1,783
|
2,029
|
8
|
2,037
|
Retirement benefit remeasurements
|
—
|
—
|
—
|
135
|
135
|
—
|
135
|
Other comprehensive profit after tax for the year
|
—
|
—
|
151
|
—
|
151
|
—
|
151
|
Total comprehensive income for the period
|
—
|
246
|
151
|
1,918
|
2,315
|
8
|
2,323
|
Employee share schemes and hedging thereof
|
16
|
—
|
—
|
356
|
372
|
—
|
372
|
Issue and redemption of other equity instruments
|
—
|
500
|
—
|
(5)
|
495
|
—
|
495
|
Other equity instruments coupon paid
|
—
|
(246)
|
—
|
—
|
(246)
|
—
|
(246)
|
Vesting of employee share schemes
|
—
|
—
|
3
|
(470)
|
(467)
|
—
|
(467)
|
Dividends paid
|
—
|
—
|
—
|
(793)
|
(793)
|
(8)
|
(801)
|
Repurchase of shares
|
(45)
|
—
|
45
|
(276)
|
(276)
|
—
|
(276)
|
Other movements
|
—
|
—
|
—
|
7
|
7
|
(12)
|
(5)
|
Balance as at 31 March 2023
|
4,344
|
13,784
|
(1,993)
|
53,564
|
69,699
|
956
|
70,655
|
Other reserves
|
As at 31.03.23
|
As at 31.12.22
|
|
£m
|
£m
|
Currency translation reserve
|
4,241
|
4,772
|
Fair value through other comprehensive income reserve
|
(1,411)
|
(1,560)
|
Cash flow hedging reserve
|
(6,162)
|
(7,235)
|
Own credit reserve
|
(73)
|
467
|
Other reserves and treasury shares
|
1,412
|
1,364
|
Total
|
(1,993)
|
(2,192)
|
Measure
|
Definition
|
Loan: deposit ratio
|
Loans and advances at amortised cost divided by deposits at
amortised cost.
|
Period end allocated tangible equity
|
Allocated
tangible equity is calculated as 13.5% (2022: 13.5%) 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
|
Annualised
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 pages
39 to 40.
|
Return on average allocated tangible equity
|
Annualised
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 pages
39 to 41.
|
Operating expenses excluding litigation and conduct
|
A measure of total operating expenses excluding litigation and
conduct charges.
|
Operating costs
|
A measure of total operating expenses excluding litigation and
conduct charges and UK bank levy.
|
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 22.
|
Net interest margin
|
Annualised
net interest income divided by the sum of average customer assets.
The components of the calculation have been included on page
21.
|
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
42.
|
Profit before impairment
|
Calculated by excluding credit impairment charges or releases from
profit before tax.
|
|
Profit/(loss) attributable to ordinary equity holders of the
parent
|
|
Average tangible equity
|
|
Return on average tangible equity
|
For the three months ended 31.03.23
|
£m
|
|
£bn
|
|
%
|
Barclays UK
|
515
|
|
10.3
|
|
20.0
|
Corporate and Investment Bank
|
1,209
|
|
31.8
|
|
15.2
|
Consumer, Cards and Payments
|
139
|
|
5.3
|
|
10.5
|
Barclays International
|
1,348
|
|
37.1
|
|
14.5
|
Head Office
|
(80)
|
|
0.2
|
|
n/m
|
Barclays Group
|
1,783
|
|
47.6
|
|
15.0
|
|
|
|
|
|
|
For the three months ended 31.03.22
|
|
|
|
|
|
Barclays UK
|
396
|
|
10.1
|
|
15.6
|
Corporate and Investment Bank
|
1,316
|
|
30.8
|
|
17.1
|
Consumer, Cards and Payments
|
(16)
|
|
4.3
|
|
(1.5)
|
Barclays International
|
1,300
|
|
35.1
|
|
14.8
|
Head Office
|
(292)
|
|
3.6
|
|
n/m
|
Barclays Group
|
1,404
|
|
48.8
|
|
11.5
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q4211
|
Q3211
|
Q2211
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Attributable profit
|
1,783
|
|
1,036
|
1,512
|
1,071
|
1,404
|
|
1,079
|
1,374
|
2,048
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Average shareholders' equity
|
55.9
|
|
54.9
|
56.8
|
57.1
|
56.9
|
|
56.1
|
56.5
|
54.4
|
Average goodwill and intangibles
|
(8.3)
|
|
(8.2)
|
(8.2)
|
(8.1)
|
(8.1)
|
|
(8.1)
|
(8.2)
|
(7.9)
|
Average tangible shareholders' equity
|
47.6
|
|
46.7
|
48.6
|
49.0
|
48.8
|
|
48.0
|
48.3
|
46.5
|
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
15.0%
|
|
8.9%
|
12.5%
|
8.7%
|
11.5%
|
|
9.0%
|
11.4%
|
17.6%
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q421
|
Q321
|
Q221
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Attributable profit
|
515
|
|
474
|
549
|
458
|
396
|
|
420
|
317
|
721
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
13.9
|
|
13.7
|
13.5
|
13.6
|
13.7
|
|
13.6
|
13.6
|
13.5
|
Average goodwill and intangibles
|
(3.6)
|
|
(3.5)
|
(3.6)
|
(3.6)
|
(3.6)
|
|
(3.6)
|
(3.6)
|
(3.6)
|
Average allocated tangible equity
|
10.3
|
|
10.2
|
9.9
|
10.0
|
10.1
|
|
10.0
|
10.0
|
9.9
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
20.0%
|
|
18.7%
|
22.1%
|
18.4%
|
15.6%
|
|
16.8%
|
12.7%
|
29.1%
|
1
|
The comparative capital and financial metrics relating to Q221 -
Q421 have been restated to reflect the impact of the Over-issuance
of Securities.
|
Barclays International
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q4211
|
Q3211
|
Q2211
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Attributable profit
|
1,348
|
|
625
|
1,136
|
783
|
1,300
|
|
818
|
1,191
|
1,207
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
38.1
|
|
39.9
|
40.1
|
38.2
|
36.0
|
|
33.8
|
32.7
|
33.0
|
Average goodwill and intangibles
|
(1.0)
|
|
(1.0)
|
(1.0)
|
(0.9)
|
(0.9)
|
|
(0.9)
|
(0.9)
|
(0.6)
|
Average allocated tangible equity
|
37.1
|
|
38.9
|
39.1
|
37.3
|
35.1
|
|
32.9
|
31.8
|
32.4
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
14.5%
|
|
6.4%
|
11.6%
|
8.4%
|
14.8%
|
|
9.9%
|
14.9%
|
14.9%
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q4211
|
Q3211
|
Q2211
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Attributable profit
|
1,209
|
|
454
|
1,015
|
579
|
1,316
|
|
695
|
1,085
|
989
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
31.8
|
|
33.7
|
34.0
|
32.7
|
30.8
|
|
28.7
|
27.8
|
28.4
|
Average goodwill and intangibles
|
—
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
—
|
Average allocated tangible equity
|
31.8
|
|
33.7
|
34.0
|
32.7
|
30.8
|
|
28.7
|
27.8
|
28.4
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
15.2%
|
|
5.4%
|
11.9%
|
7.1%
|
17.1%
|
|
9.7%
|
15.6%
|
14.0%
|
Consumer, Cards and Payments
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q421
|
Q321
|
Q221
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Attributable profit/(loss)
|
139
|
|
171
|
121
|
204
|
(16)
|
|
123
|
106
|
218
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
6.3
|
|
6.2
|
6.1
|
5.5
|
5.2
|
|
5.1
|
4.9
|
4.6
|
Average goodwill and intangibles
|
(1.0)
|
|
(1.0)
|
(1.0)
|
(0.9)
|
(0.9)
|
|
(0.9)
|
(0.9)
|
(0.6)
|
Average allocated tangible equity
|
5.3
|
|
5.2
|
5.1
|
4.6
|
4.3
|
|
4.2
|
4.0
|
4.0
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
10.5%
|
|
13.0%
|
9.5%
|
17.8%
|
(1.5)%
|
|
11.7%
|
10.5%
|
21.8%
|
1
|
The comparative capital and financial metrics relating to Q221 -
Q421 have been restated to reflect the impact of the Over-issuance
of Securities.
|
Tangible net asset value per share
|
As at 31.03.23
|
As at 31.12.22
|
As at 31.03.22
|
|
£m
|
£m
|
£m
|
Total equity excluding non-controlling interests
|
69,699
|
68,292
|
68,465
|
Other equity instruments
|
(13,784)
|
(13,284)
|
(11,119)
|
Goodwill and intangibles
|
(8,664)
|
(8,239)
|
(8,046)
|
Tangible shareholders' equity attributable to ordinary shareholders
of the parent
|
47,251
|
46,769
|
49,300
|
|
|
|
|
|
m
|
m
|
m
|
Shares in issue
|
15,701
|
15,871
|
16,762
|
|
|
|
|
|
p
|
p
|
p
|
Tangible net asset value per share
|
301
|
295
|
294
|
Notable Items
|
|
|
|
|
Three months ended 31.03.23
|
Three months ended 31.03.22
|
|||
£m
|
Profit before tax
|
Attributable profit
|
Profit before tax
|
Attributable profit
|
Statutory
|
2,598
|
1,783
|
2,234
|
1,404
|
Net impact from the Over-issuance of Securities
|
—
|
—
|
(320)
|
(240)
|
Customer remediation costs on legacy loan portfolio
|
—
|
—
|
(181)
|
(147)
|
Other litigation and conduct
|
1
|
2
|
(22)
|
(15)
|
Re-measurement of UK DTAs
|
—
|
—
|
—
|
(346)
|
Excluding the impact of notable items
|
2,597
|
1,781
|
2,757
|
2,152
|
|
|
|
|
|
|
|
Results timetable1
|
|
|
Date
|
|
|
|
2023 Interim Results Announcement
|
|
|
27 July 2023
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
% Change3
|
|
Exchange rates2
|
31.03.23
|
31.12.22
|
31.03.22
|
|
31.12.22
|
31.03.22
|
Period end - USD/GBP
|
1.23
|
1.21
|
1.31
|
|
2%
|
(6)%
|
3 month average - USD/GBP
|
1.22
|
1.17
|
1.34
|
|
4%
|
(9)%
|
Period end - EUR/GBP
|
1.14
|
1.13
|
1.19
|
|
1%
|
(4)%
|
3 month average - EUR/GBP
|
1.13
|
1.15
|
1.20
|
|
(2)%
|
(6)%
|
|
|
|
|
|
|
|
Share price data
|
|
|
|
|
|
|
Barclays PLC (p)
|
145.80
|
158.52
|
148.30
|
|
|
|
Barclays
PLC number of shares (m)4
|
15,701
|
15,871
|
16,762
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For further information please contact
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investor relations
|
Media relations
|
|||||
Adam Strachan +1 212 526 8442
|
Tom Hoskin +44 (0) 20 7116 4755
|
|||||
James Johnson +44 (0) 20 7116 7233
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 20555 from the UK or +44
121 415 7004 from overseas.
|
|
|||||
|
|
|
|
|
|
|
American Depositary Receipts (ADRs)
|
|
|
|
|
|
|
EQ Shareowner Services
|
||||||
P.O. Box 64504
|
||||||
St. Paul, MN 55164-0504
|
||||||
United States of America
|
||||||
shareowneronline.com
|
|
|
|
|
|
|
Toll Free Number: +1 800-990-1135
|
|
|
|
|
|
|
Outside the US +1 651-453-2128
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delivery of ADR certificates and overnight mail
|
|
|
|
|
|
|
EQ Shareowner Services, 1110 Centre Pointe Curve, Suite 101,
Mendota Heights, MN 55120-4100, USA.
|
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
|
The number of shares of 15,701m as at 31 March is different from
the 15,688m quoted in the 3 April 2023 announcement because the
share buyback transactions executed on 30 and 31 March 2023 did not
settle until 3 April 2023 and 4 April 2023
respectively.
|
5
|
Lines open 8.30am to 5.30pm (UK time), Monday to Friday, excluding
UK public holidays in England and Wales.
|