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BARCLAYS
PLC
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(Registrant)
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By: /s/
Garth Wright
-------------------------------
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Garth
Wright
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Assistant
Secretary
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Results Announcement
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Page
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Notes
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1
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Performance Highlights
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2
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Group
Finance Director’s Review
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8
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Results by Business
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●Barclays
UK
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10
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●Barclays
International
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13
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●Head
Office
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18
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Quarterly Results Summary
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19
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Quarterly Results by Business
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20
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Performance Management
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|
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●Margins
and Balances
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26
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●Remuneration
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27
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Risk Management
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|
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●Risk
Management and Principle Risks
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29
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●Credit
Risk
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30
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●Market
Risk
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50
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●Treasury
and Capital Risk
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51
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Condensed
Consolidated Financial Statements
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60
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Financial
Statement Notes
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65
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Appendix:
Non-IFRS Performance Measures
|
69
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Shareholder
Information
|
78
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C. S. Venkatakrishnan, Group Chief Executive,
commented
“In 2023 Barclays delivered solid performance against a mixed
macroeconomic backdrop, meeting its financial targets. Our strong
13.8% Common Equity Tier 1 (CET1) ratio enables us to deliver
increased total capital distributions of £3.0bn to
shareholders, up c.37% on 2022, which includes a further share
buyback of £1.0bn. Our new three-year plan, which we will be
announcing at the Investor Update today, is designed to further
improve Barclays' operational and financial performance, driving
higher returns, and predictable, attractive shareholder
distributions”
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Statutory
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|
Excluding Q423 structural cost actions
|
||||||||
|
Income
|
Profit before tax
|
Attributable profit/(loss)
|
LLR
|
TNAV per share
|
CET1 ratio
|
Total capital return
|
|
Cost: income ratio
|
RoTE
|
EPS
|
FY23
|
£25.4bn
|
£6.6bn
|
£4.3bn
|
46bps
|
331p
|
13.8%
|
£3.0bn
|
|
63%
|
10.6%
|
32.4p
|
Q423
|
£5.6bn
|
£0.1bn
|
£(0.1)bn
|
54bps
|
|
71%
|
5.1%
|
4.2p
|
1
|
The impact of the Q423 structural cost actions was £0.9bn. At
Q323 Results the Group highlighted it was evaluating actions to
reduce structural costs to help drive future returns. Given the
materiality of these actions in Q423, certain 2023 performance
measures included in this document exclude the impact of Q423
structural cost actions. Page 6 includes a reconciliation of FY23
financial results excluding the impact of Q423 structural cost
actions. Total 2023 structural cost actions were £1.0bn (Q323
YTD: £0.1bn).
|
2
|
Includes total dividends and share buybacks announced in relation
to 2023. Total dividend for 2023 of 8.0p per share comprises the
2.7p 2023 half-year dividend and the 5.3p full-year dividend for
2023. Total share buybacks announced in relation to 2023 include
the £750m buyback announced at H123 and a further share
buyback of up to £1.0bn
announced today.
|
3
|
Excluding £0.3bn income gain and
£1.0bn litigation and conduct charge in 2022 from the
Over-issuance of Securities under Barclays Bank PLC's US shelf
registration statements on Form F-3 filed with the SEC in 2018 and
2019. Page 6 includes a reconciliation of financial results
excluding the impact of the Over-issuance of Securities in the
prior year
|
1
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Q423 structural cost actions of £0.9bn.
|
2
|
Period covering 2014-2023. Pre 2014 data was not restated following
re-segmentation in 2016.
|
3
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Payback period is the length of time to recoup the cost from the
structural cost actions.
|
1
|
This excludes the impact of Tesco Bank acquisition, which is
expected to generate annualised NII of c.£400m in the first
year post-completion. See Other Matters on page 9 for further details of the
acquisition.
|
Barclays Group results
|
Year ended
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|
Three months ended
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||||
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31.12.23
|
31.12.22
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|
|
31.12.23
|
31.12.22
|
|
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
Barclays UK
|
7,587
|
7,259
|
5
|
|
1,792
|
1,970
|
(9)
|
Corporate and Investment Bank
|
12,610
|
13,368
|
(6)
|
|
2,390
|
2,576
|
(7)
|
Consumer, Cards and Payments
|
5,308
|
4,499
|
18
|
|
1,364
|
1,286
|
6
|
Barclays International
|
17,918
|
17,867
|
—
|
|
3,754
|
3,862
|
(3)
|
Head Office
|
(127)
|
(170)
|
25
|
|
52
|
(31)
|
|
Total income
|
25,378
|
24,956
|
2
|
|
5,598
|
5,801
|
(3)
|
Operating costs
|
(16,714)
|
(14,957)
|
(12)
|
|
(4,735)
|
(3,748)
|
(26)
|
UK bank levy
|
(180)
|
(176)
|
(2)
|
|
(180)
|
(176)
|
(2)
|
Litigation and conduct
|
(37)
|
(1,597)
|
98
|
|
(5)
|
(79)
|
94
|
Total operating expenses
|
(16,931)
|
(16,730)
|
(1)
|
|
(4,920)
|
(4,003)
|
(23)
|
Other net (expenses)/income
|
(9)
|
6
|
|
|
(16)
|
10
|
|
Profit before impairment
|
8,438
|
8,232
|
3
|
|
662
|
1,808
|
(63)
|
Credit impairment charges
|
(1,881)
|
(1,220)
|
(54)
|
|
(552)
|
(498)
|
(11)
|
Profit before tax
|
6,557
|
7,012
|
(6)
|
|
110
|
1,310
|
(92)
|
Tax (charge)/credit
|
(1,234)
|
(1,039)
|
(19)
|
|
23
|
33
|
(30)
|
Profit after tax
|
5,323
|
5,973
|
(11)
|
|
133
|
1,343
|
(90)
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Non-controlling interests
|
(64)
|
(45)
|
(42)
|
|
(25)
|
(22)
|
(14)
|
Other equity instrument holders
|
(985)
|
(905)
|
(9)
|
|
(219)
|
(285)
|
23
|
Attributable profit/(loss)
|
4,274
|
5,023
|
(15)
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|
(111)
|
1,036
|
|
|
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|
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Performance measures
|
|
|
|
|
|
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Return on average tangible shareholders' equity
|
9.0%
|
10.4%
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|
|
(0.9)%
|
8.9%
|
|
Average tangible shareholders' equity (£bn)
|
47.4
|
48.3
|
|
|
48.9
|
46.7
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|
Cost: income ratio
|
67%
|
67%
|
|
|
88%
|
69%
|
|
Loan loss rate (bps)
|
46
|
30
|
|
|
54
|
49
|
|
Basic earnings per share
|
27.7p
|
30.8p
|
|
|
(0.7)p
|
6.5p
|
|
Dividend per share
|
8.0p
|
7.25p
|
|
|
|
|
|
Share buyback announced (£m)
|
1,750
|
1,000
|
|
|
|
|
|
Total payout equivalent per share
|
c.19.4p
|
c.13.4p
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
15,445
|
16,333
|
(5)
|
|
15,092
|
15,828
|
(5)
|
Period end number of shares (m)
|
15,155
|
15,871
|
(5)
|
|
15,155
|
15,871
|
(5)
|
|
As at 31.12.23
|
As at 30.09.23
|
As at 31.12.22
|
Balance sheet and capital management1
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
399.5
|
405.4
|
398.8
|
Loans and advances at amortised cost impairment coverage
ratio
|
1.4%
|
1.4%
|
1.4%
|
Total assets
|
1,477.5
|
1,591.7
|
1,513.7
|
Deposits at amortised cost
|
538.8
|
561.3
|
545.8
|
Tangible net asset value per share
|
331p
|
316p
|
295p
|
Common equity tier 1 ratio
|
13.8%
|
14.0%
|
13.9%
|
Common equity tier 1 capital
|
47.3
|
48.0
|
46.9
|
Risk weighted assets
|
342.7
|
341.9
|
336.5
|
UK leverage ratio
|
5.2%
|
5.0%
|
5.3%
|
UK leverage exposure
|
1,168.3
|
1,202.4
|
1,130.0
|
|
|
|
|
Funding and liquidity
|
|
|
|
Group liquidity pool (£bn)
|
298.1
|
335.0
|
318.0
|
Liquidity
coverage ratio2
|
161%
|
159%
|
156%
|
Net
stable funding ratio3
|
138%
|
138%
|
137%
|
Loan: deposit ratio
|
74%
|
72%
|
73%
|
1
|
Refer to pages 55 to
59 for further information on
how capital, RWAs and leverage are calculated.
|
2
|
The liquidity coverage ratio (LCR) is now shown on an average
basis, based on the average of the last 12 spot month end ratios.
Prior period LCR comparatives have been updated for
consistency.
|
3
|
Represents average of the last four spot quarter end
positions.
|
Year ended
|
31.12.23
|
|
|
|
31.12.22
|
|
|
|
|
|
Statutory
|
Adjusting items
|
Excluding adjusting items
|
|
Statutory
|
Adjusting items
|
Excluding adjusting items
|
|
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
% Change
|
Barclays UK
|
7,587
|
—
|
7,587
|
|
7,259
|
—
|
7,259
|
|
5
|
Corporate and Investment Bank
|
12,610
|
—
|
12,610
|
|
13,368
|
292
|
13,076
|
|
(4)
|
Consumer, Cards and Payments
|
5,308
|
—
|
5,308
|
|
4,499
|
—
|
4,499
|
|
18
|
Barclays International
|
17,918
|
—
|
17,918
|
|
17,867
|
292
|
17,575
|
|
2
|
Head Office
|
(127)
|
—
|
(127)
|
|
(170)
|
—
|
(170)
|
|
25
|
Total income
|
25,378
|
—
|
25,378
|
|
24,956
|
292
|
24,664
|
|
3
|
Barclays UK
|
(4,393)
|
(168)
|
(4,225)
|
|
(4,260)
|
—
|
(4,260)
|
|
1
|
Corporate and Investment Bank
|
(8,335)
|
(188)
|
(8,147)
|
|
(7,630)
|
—
|
(7,630)
|
|
(7)
|
Consumer, Cards and Payments
|
(3,243)
|
(118)
|
(3,125)
|
|
(2,731)
|
—
|
(2,731)
|
|
(14)
|
Barclays International
|
(11,578)
|
(306)
|
(11,272)
|
|
(10,361)
|
—
|
(10,361)
|
|
(9)
|
Head Office
|
(743)
|
(453)
|
(290)
|
|
(336)
|
—
|
(336)
|
|
14
|
Total operating costs
|
(16,714)
|
(927)
|
(15,787)
|
|
(14,957)
|
—
|
(14,957)
|
|
(6)
|
UK bank levy
|
(180)
|
—
|
(180)
|
|
(176)
|
—
|
(176)
|
|
(2)
|
Litigation and conduct
|
(37)
|
—
|
(37)
|
|
(1,597)
|
(966)
|
(631)
|
|
94
|
Total operating expenses
|
(16,931)
|
(927)
|
(16,004)
|
|
(16,730)
|
(966)
|
(15,764)
|
|
(2)
|
Other net (expenses)/income
|
(9)
|
—
|
(9)
|
|
6
|
—
|
6
|
|
|
Profit before impairment
|
8,438
|
(927)
|
9,365
|
|
8,232
|
(674)
|
8,906
|
|
5
|
Credit impairment charges
|
(1,881)
|
—
|
(1,881)
|
|
(1,220)
|
—
|
(1,220)
|
|
(54)
|
Profit before tax
|
6,557
|
(927)
|
7,484
|
|
7,012
|
(674)
|
7,686
|
|
(3)
|
Attributable profit
|
4,274
|
(739)
|
5,013
|
|
5,023
|
(552)
|
5,575
|
|
(10)
|
|
|
|
|
|
|
|
|
|
|
Average tangible shareholders' equity (£bn)
|
47.4
|
|
47.4
|
|
48.3
|
|
48.3
|
|
|
Return on average tangible shareholders' equity
|
9.0%
|
|
10.6%
|
|
10.4%
|
|
11.6%
|
|
|
Cost: income ratio
|
67%
|
|
63%
|
|
67%
|
|
64%
|
|
|
1
|
Adjusting items: Q423 structural cost actions in 2023 and impact of
the Over-issuance of Securities in 2022.
|
Three months ended
|
31.12.23
|
|
31.12.22
|
|
|
||||
|
Statutory
|
Adjusting items
|
Excluding adjusting items
|
|
Statutory
|
Adjusting items
|
Excluding adjusting items
|
|
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
% Change
|
Barclays UK
|
1,792
|
—
|
1,792
|
|
1,970
|
—
|
1,970
|
|
(9)
|
Corporate and Investment Bank
|
2,390
|
—
|
2,390
|
|
2,576
|
—
|
2,576
|
|
(7)
|
Consumer, Cards and Payments
|
1,364
|
—
|
1,364
|
|
1,286
|
—
|
1,286
|
|
6
|
Barclays International
|
3,754
|
—
|
3,754
|
|
3,862
|
—
|
3,862
|
|
(3)
|
Head Office
|
52
|
—
|
52
|
|
(31)
|
—
|
(31)
|
|
|
Total income
|
5,598
|
—
|
5,598
|
|
5,801
|
—
|
5,801
|
|
(3)
|
Barclays UK
|
(1,153)
|
(168)
|
(985)
|
|
(1,108)
|
—
|
(1,108)
|
|
11
|
Corporate and Investment Bank
|
(2,134)
|
(188)
|
(1,946)
|
|
(1,796)
|
—
|
(1,796)
|
|
(8)
|
Consumer, Cards and Payments
|
(925)
|
(118)
|
(807)
|
|
(747)
|
—
|
(747)
|
|
(8)
|
Barclays International
|
(3,059)
|
(306)
|
(2,753)
|
|
(2,543)
|
—
|
(2,543)
|
|
(8)
|
Head Office
|
(523)
|
(453)
|
(70)
|
|
(97)
|
—
|
(97)
|
|
28
|
Total operating costs
|
(4,735)
|
(927)
|
(3,808)
|
|
(3,748)
|
—
|
(3,748)
|
|
(2)
|
UK bank levy
|
(180)
|
—
|
(180)
|
|
(176)
|
—
|
(176)
|
|
(2)
|
Litigation and conduct
|
(5)
|
—
|
(5)
|
|
(79)
|
—
|
(79)
|
|
94
|
Total operating expenses
|
(4,920)
|
(927)
|
(3,993)
|
|
(4,003)
|
—
|
(4,003)
|
|
—
|
Other net (expenses)/income
|
(16)
|
—
|
(16)
|
|
10
|
—
|
10
|
|
|
Profit before impairment
|
662
|
(927)
|
1,589
|
|
1,808
|
—
|
1,808
|
|
(12)
|
Credit impairment charges
|
(552)
|
—
|
(552)
|
|
(498)
|
—
|
(498)
|
|
(11)
|
Profit before tax
|
110
|
(927)
|
1,037
|
|
1,310
|
—
|
1,310
|
|
(21)
|
Attributable (loss)/profit
|
(111)
|
(739)
|
628
|
|
1,036
|
—
|
1,036
|
|
(39)
|
|
|
|
|
|
|
|
|
|
|
Average tangible shareholders' equity (£bn)
|
48.9
|
|
48.9
|
|
46.7
|
|
46.7
|
|
|
Return on average tangible shareholders' equity
|
(0.9)%
|
|
5.1%
|
|
8.9%
|
|
8.9%
|
|
|
Cost: income ratio
|
88%
|
|
71%
|
|
69%
|
|
69%
|
|
|
1
|
Adjusting items: Q423 structural cost actions in 2023 and impact of
the Over-issuance of Securities in 2022
|
1
|
Refers to the settlements with the SEC and Commodity Futures
Trading Commission (CFTC) in connection with their investigations
of the use of unauthorised devices for business
communications.
|
1
|
Represents average of the last 12 spot month end
ratios.
|
2
|
Represents average of the last four spot quarter end
ratios.
|
Barclays UK
|
Year ended
|
|
Three months ended
|
||||
|
31.12.23
|
31.12.22
|
|
|
31.12.23
|
31.12.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
Net interest income
|
6,431
|
5,893
|
9
|
|
1,575
|
1,600
|
(2)
|
Net fee, commission and other income
|
1,156
|
1,366
|
(15)
|
|
217
|
370
|
(41)
|
Total income
|
7,587
|
7,259
|
5
|
|
1,792
|
1,970
|
(9)
|
Operating costs
|
(4,393)
|
(4,260)
|
(3)
|
|
(1,153)
|
(1,108)
|
(4)
|
UK bank levy
|
(30)
|
(26)
|
(15)
|
|
(30)
|
(26)
|
(15)
|
Litigation and conduct
|
8
|
(41)
|
|
|
(4)
|
(13)
|
69
|
Total operating expenses
|
(4,415)
|
(4,327)
|
(2)
|
|
(1,187)
|
(1,147)
|
(3)
|
Other net income
|
—
|
—
|
|
|
—
|
1
|
|
Profit before impairment
|
3,172
|
2,932
|
8
|
|
605
|
824
|
(27)
|
Credit impairment charges
|
(304)
|
(286)
|
(6)
|
|
(37)
|
(157)
|
76
|
Profit before tax
|
2,868
|
2,646
|
8
|
|
568
|
667
|
(15)
|
Attributable profit
|
1,962
|
1,877
|
5
|
|
382
|
474
|
(19)
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
19.2%
|
18.7%
|
|
|
14.9%
|
18.7%
|
|
Average allocated tangible equity (£bn)
|
10.2
|
10.0
|
|
|
10.2
|
10.2
|
|
Cost: income ratio
|
58%
|
60%
|
|
|
66%
|
58%
|
|
Loan loss rate (bps)
|
14
|
13
|
|
|
7
|
27
|
|
Net interest margin
|
3.13%
|
2.86%
|
|
|
3.07%
|
3.10%
|
|
|
|
|
|
|
|
|
|
Key facts
|
|
|
|
|
|
|
|
UK mortgage balances (£bn)
|
160.9
|
162.2
|
|
|
|
|
|
Mortgage gross lending flow (£bn)
|
22.7
|
30.3
|
|
|
|
|
|
Average
loan to value of mortgage portfolio1
|
54%
|
50%
|
|
|
|
|
|
Average
loan to value of new mortgage lending1
|
63%
|
68%
|
|
|
|
|
|
Number of branches
|
306
|
481
|
|
|
|
|
|
Mobile banking active customers (m)
|
11.0
|
10.5
|
|
|
|
|
|
30 day arrears rate - Barclaycard Consumer UK
|
0.9%
|
0.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
|
|
|
|
Loans and advances to customers at amortised cost
|
202.8
|
205.1
|
|
|
|
|
|
Total assets
|
293.1
|
313.2
|
|
|
|
|
|
Customer deposits at amortised cost
|
241.1
|
258.0
|
|
|
|
|
|
Loan: deposit ratio
|
92%
|
87%
|
|
|
|
|
|
Risk weighted assets
|
73.5
|
73.1
|
|
|
|
|
|
Period end allocated tangible equity
|
10.2
|
10.1
|
|
|
|
|
|
1
|
Average loan to value (LTV) of mortgages is balance weighted and
reflects both residential and buy-to-let (BTL) mortgage portfolios
within the Home Loans portfolio.
|
Analysis of Barclays UK
|
Year ended
|
|
Three months ended
|
||||
31.12.23
|
31.12.22
|
|
|
31.12.23
|
31.12.22
|
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
Personal Banking
|
4,729
|
4,540
|
4
|
|
1,067
|
1,229
|
(13)
|
Barclaycard Consumer UK
|
964
|
1,093
|
(12)
|
|
242
|
269
|
(10)
|
Business Banking
|
1,894
|
1,626
|
16
|
|
483
|
472
|
2
|
Total income
|
7,587
|
7,259
|
5
|
|
1,792
|
1,970
|
(9)
|
|
|
|
|
|
|
|
|
Analysis of credit impairment charges
|
|
|
|
|
|
|
|
Personal Banking
|
(170)
|
(167)
|
(2)
|
|
35
|
(120)
|
|
Barclaycard Consumer UK
|
(162)
|
30
|
|
|
(73)
|
(12)
|
|
Business Banking
|
28
|
(149)
|
|
|
1
|
(25)
|
|
Total credit impairment charges
|
(304)
|
(286)
|
(6)
|
|
(37)
|
(157)
|
76
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
|
|
|
|
|
Personal Banking
|
170.1
|
169.7
|
|
|
|
|
|
Barclaycard Consumer UK
|
9.7
|
9.2
|
|
|
|
|
|
Business Banking
|
23.0
|
26.2
|
|
|
|
|
|
Total loans and advances to customers at amortised
cost
|
202.8
|
205.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
|
|
|
|
Personal Banking
|
185.4
|
195.6
|
|
|
|
|
|
Barclaycard Consumer UK
|
—
|
—
|
|
|
|
|
|
Business Banking
|
55.7
|
62.4
|
|
|
|
|
|
Total customer deposits at amortised cost
|
241.1
|
258.0
|
|
|
|
|
|
Barclays International
|
Year ended
|
|
Three months ended
|
||||
|
31.12.23
|
31.12.22
|
|
|
31.12.23
|
31.12.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
Net interest income
|
6,197
|
4,927
|
26
|
|
1,458
|
1,465
|
—
|
Net trading income
|
5,878
|
7,709
|
(24)
|
|
720
|
1,169
|
(38)
|
Net fee, commission and other income
|
5,843
|
5,231
|
12
|
|
1,576
|
1,228
|
28
|
Total income
|
17,918
|
17,867
|
—
|
|
3,754
|
3,862
|
(3)
|
Operating costs
|
(11,578)
|
(10,361)
|
(12)
|
|
(3,059)
|
(2,543)
|
(20)
|
UK bank levy
|
(136)
|
(133)
|
(2)
|
|
(136)
|
(133)
|
(2)
|
Litigation and conduct
|
(47)
|
(1,503)
|
97
|
|
(7)
|
(67)
|
90
|
Total operating expenses
|
(11,761)
|
(11,997)
|
2
|
|
(3,202)
|
(2,743)
|
(17)
|
Other net (expenses)/income
|
(2)
|
28
|
|
|
(14)
|
5
|
|
Profit before impairment
|
6,155
|
5,898
|
4
|
|
538
|
1,124
|
(52)
|
Credit impairment charges
|
(1,548)
|
(933)
|
(66)
|
|
(511)
|
(328)
|
(56)
|
Profit before tax
|
4,607
|
4,965
|
(7)
|
|
27
|
796
|
(97)
|
Attributable profit/(loss)
|
3,025
|
3,844
|
(21)
|
|
(124)
|
625
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
8.2%
|
10.2%
|
|
|
(1.3)%
|
6.4%
|
|
Average allocated tangible equity (£bn)
|
37.0
|
37.6
|
|
|
37.1
|
38.9
|
|
Cost: income ratio
|
66%
|
67%
|
|
|
85%
|
71%
|
|
Loan loss rate (bps)
|
87
|
54
|
|
|
114
|
75
|
|
Net interest margin
|
5.78%
|
5.02%
|
|
|
5.43%
|
5.71%
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
|
|
|
|
Loans and advances to customers at amortised cost
|
126.8
|
133.7
|
|
|
|
|
|
Loans and advances to banks at amortised cost
|
8.4
|
8.7
|
|
|
|
|
|
Debt securities at amortised cost
|
39.0
|
27.2
|
|
|
|
|
|
Loans and advances at amortised cost
|
174.2
|
169.6
|
|
|
|
|
|
Trading portfolio assets
|
174.6
|
133.8
|
|
|
|
|
|
Derivative financial instrument assets
|
255.2
|
301.7
|
|
|
|
|
|
Financial assets at fair value through the income
statement
|
203.7
|
210.5
|
|
|
|
|
|
Cash collateral and settlement balances
|
103.6
|
107.7
|
|
|
|
|
|
Other assets
|
254.8
|
258.0
|
|
|
|
|
|
Total assets
|
1,166.1
|
1,181.3
|
|
|
|
|
|
Deposits at amortised cost
|
297.7
|
287.6
|
|
|
|
|
|
Derivative financial instrument liabilities
|
249.8
|
288.9
|
|
|
|
|
|
Loan: deposit ratio
|
58%
|
59%
|
|
|
|
|
|
Risk weighted assets
|
259.1
|
254.8
|
|
|
|
|
|
Period end allocated tangible equity
|
37.6
|
36.8
|
|
|
|
|
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
Year ended
|
|
Three months ended
|
||||
|
31.12.23
|
31.12.22
|
|
|
31.12.23
|
31.12.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
Net interest income
|
2,551
|
1,949
|
31
|
|
530
|
548
|
(3)
|
Net trading income
|
6,056
|
7,733
|
(22)
|
|
763
|
1,201
|
(36)
|
Net fee, commission and other income
|
4,003
|
3,686
|
9
|
|
1,097
|
827
|
33
|
Total income
|
12,610
|
13,368
|
(6)
|
|
2,390
|
2,576
|
(7)
|
Operating costs
|
(8,335)
|
(7,630)
|
(9)
|
|
(2,134)
|
(1,796)
|
(19)
|
UK bank levy
|
(129)
|
(126)
|
(2)
|
|
(129)
|
(126)
|
(2)
|
Litigation and conduct
|
6
|
(1,189)
|
|
|
(3)
|
(55)
|
95
|
Total operating expenses
|
(8,458)
|
(8,945)
|
5
|
|
(2,266)
|
(1,977)
|
(15)
|
Other net (expenses)/income
|
(3)
|
2
|
|
|
(6)
|
2
|
|
Profit before impairment
|
4,149
|
4,425
|
(6)
|
|
118
|
601
|
(80)
|
Credit impairment charges
|
(23)
|
(119)
|
81
|
|
(23)
|
(41)
|
44
|
Profit before tax
|
4,126
|
4,306
|
(4)
|
|
95
|
560
|
(83)
|
Attributable profit/(loss)
|
2,667
|
3,364
|
(21)
|
|
(61)
|
454
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
8.4%
|
10.2%
|
|
|
(0.8)%
|
5.4%
|
|
Average allocated tangible equity (£bn)
|
31.7
|
32.8
|
|
|
31.6
|
33.7
|
|
Cost: income ratio
|
67%
|
67%
|
|
|
95%
|
77%
|
|
Loan loss rate (bps)
|
2
|
9
|
|
|
7
|
13
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
|
|
|
|
Loans and advances to customers at amortised cost
|
87.8
|
90.5
|
|
|
|
|
|
Loans and advances to banks at amortised cost
|
7.4
|
8.1
|
|
|
|
|
|
Debt securities at amortised cost
|
38.9
|
27.2
|
|
|
|
|
|
Loans and advances at amortised cost
|
134.1
|
125.8
|
|
|
|
|
|
Trading portfolio assets
|
174.5
|
133.7
|
|
|
|
|
|
Derivative financial instrument assets
|
255.1
|
301.6
|
|
|
|
|
|
Financial assets at fair value through the income
statement
|
203.6
|
210.5
|
|
|
|
|
|
Cash collateral and settlement balances
|
102.9
|
106.9
|
|
|
|
|
|
Other assets
|
205.4
|
222.6
|
|
|
|
|
|
Total assets
|
1,075.6
|
1,101.1
|
|
|
|
|
|
Deposits at amortised cost
|
217.7
|
205.8
|
|
|
|
|
|
Derivative financial instrument liabilities
|
249.7
|
288.9
|
|
|
|
|
|
Risk weighted assets
|
216.8
|
215.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
FICC
|
4,845
|
5,695
|
(15)
|
|
724
|
976
|
(26)
|
Equities
|
2,373
|
3,149
|
(25)
|
|
431
|
440
|
(2)
|
Global Markets
|
7,218
|
8,844
|
(18)
|
|
1,155
|
1,416
|
(18)
|
Advisory
|
593
|
768
|
(23)
|
|
171
|
197
|
(13)
|
Equity capital markets
|
219
|
166
|
32
|
|
38
|
40
|
(5)
|
Debt capital markets
|
1,148
|
1,281
|
(10)
|
|
301
|
243
|
24
|
Investment Banking fees
|
1,960
|
2,215
|
(12)
|
|
510
|
480
|
6
|
Corporate lending
|
475
|
(231)
|
|
|
40
|
(128)
|
|
Transaction banking
|
2,957
|
2,540
|
16
|
|
685
|
808
|
(15)
|
Corporate
|
3,432
|
2,309
|
49
|
|
725
|
680
|
7
|
Total income
|
12,610
|
13,368
|
(6)
|
|
2,390
|
2,576
|
(7)
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
Consumer, Cards and Payments
|
Year ended
|
|
Three months ended
|
||||
|
31.12.23
|
31.12.22
|
|
|
31.12.23
|
31.12.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
Net interest income
|
3,646
|
2,979
|
22
|
|
928
|
918
|
1
|
Net fee, commission, trading and other income
|
1,662
|
1,520
|
9
|
|
436
|
368
|
18
|
Total income
|
5,308
|
4,499
|
18
|
|
1,364
|
1,286
|
6
|
Operating costs
|
(3,243)
|
(2,731)
|
(19)
|
|
(925)
|
(747)
|
(24)
|
UK bank levy
|
(7)
|
(7)
|
—
|
|
(7)
|
(7)
|
—
|
Litigation and conduct
|
(53)
|
(314)
|
83
|
|
(4)
|
(12)
|
67
|
Total operating expenses
|
(3,303)
|
(3,052)
|
(8)
|
|
(936)
|
(766)
|
(22)
|
Other net income/(expenses)
|
1
|
26
|
(96)
|
|
(8)
|
3
|
|
Profit before impairment
|
2,006
|
1,473
|
36
|
|
420
|
523
|
(20)
|
Credit impairment charges
|
(1,525)
|
(814)
|
(87)
|
|
(488)
|
(287)
|
(70)
|
Profit before tax
|
481
|
659
|
(27)
|
|
(68)
|
236
|
|
Attributable profit/(loss)
|
358
|
480
|
(25)
|
|
(63)
|
171
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
6.7%
|
10.0%
|
|
|
(4.5)%
|
13.0%
|
|
Average allocated tangible equity (£bn)
|
5.3
|
4.8
|
|
|
5.5
|
5.2
|
|
Cost: income ratio
|
62%
|
68%
|
|
|
69%
|
60%
|
|
Loan loss rate (bps)
|
354
|
175
|
|
|
449
|
245
|
|
|
|
|
|
|
|
|
|
Key facts
|
|
|
|
|
|
|
|
US cards 30 day arrears rate
|
2.9%
|
2.2%
|
|
|
|
|
|
US cards customer FICO score distribution
|
|
|
|
|
|
|
|
<660
|
12%
|
11%
|
|
|
|
|
|
>660
|
88%
|
89%
|
|
|
|
|
|
Total number of payments clients
|
402k
|
395k
|
|
|
|
|
|
Value
of payments processed (£bn)1
|
324
|
307
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
|
|
|
|
Loans and advances to customers at amortised cost
|
39.0
|
43.2
|
|
|
|
|
|
Total assets
|
90.5
|
80.2
|
|
|
|
|
|
Deposits at amortised cost
|
80.0
|
81.8
|
|
|
|
|
|
Risk weighted assets
|
42.3
|
38.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
International Cards and Consumer Bank
|
3,569
|
2,913
|
23
|
|
944
|
860
|
10
|
Private Bank
|
1,190
|
1,014
|
17
|
|
306
|
285
|
7
|
Payments
|
549
|
572
|
(4)
|
|
114
|
141
|
(19)
|
Total income
|
5,308
|
4,499
|
18
|
|
1,364
|
1,286
|
6
|
1
|
Includes £311bn (2022: £296bn) of merchant acquiring
payments.
|
1
|
The Over-issuance of Securities in the prior year impacted Equities
within Global markets, CIB and Barclays International
only.
|
2
|
Period covering 2014-2023. Pre 2014 data was not restated following
re-segmentation in 2016.
|
3
|
Data source: Dealogic for the period covering 1 January to 31
December 2023.
|
4
|
Refers to the settlements with the SEC and CFTC in connection with
their investigations of the use of unauthorised devices for
business communications.
|
Head Office
|
Year ended
|
|
Three months ended
|
||||
|
31.12.23
|
31.12.22
|
|
|
31.12.23
|
31.12.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
Net interest income
|
81
|
(248)
|
|
|
106
|
(324)
|
|
Net fee, commission and other income
|
(208)
|
78
|
|
|
(54)
|
293
|
|
Total income
|
(127)
|
(170)
|
25
|
|
52
|
(31)
|
|
Operating costs
|
(743)
|
(336)
|
|
|
(523)
|
(97)
|
|
UK bank levy
|
(14)
|
(17)
|
18
|
|
(14)
|
(17)
|
18
|
Litigation and conduct
|
2
|
(53)
|
|
|
6
|
1
|
|
Total operating expenses
|
(755)
|
(406)
|
(86)
|
|
(531)
|
(113)
|
|
Other net (expenses)/income
|
(7)
|
(22)
|
68
|
|
(2)
|
4
|
|
Loss before impairment
|
(889)
|
(598)
|
(49)
|
|
(481)
|
(140)
|
|
Credit impairment charges
|
(29)
|
(1)
|
|
|
(4)
|
(13)
|
69
|
Loss before tax
|
(918)
|
(599)
|
(53)
|
|
(485)
|
(153)
|
|
Attributable loss
|
(713)
|
(698)
|
(2)
|
|
(369)
|
(63)
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
0.2
|
0.7
|
|
|
1.6
|
(2.4)
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
|
|
|
|
Total assets
|
18.3
|
19.2
|
|
|
|
|
|
Risk weighted assets
|
10.2
|
8.6
|
|
|
|
|
|
Period end allocated tangible equity
|
2.3
|
(0.2)
|
|
|
|
|
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
3,139
|
3,247
|
3,270
|
3,053
|
|
2,741
|
3,068
|
2,422
|
2,341
|
Net fee, commission and other income
|
2,459
|
3,011
|
3,015
|
4,184
|
|
3,060
|
2,883
|
4,286
|
4,155
|
Total income
|
5,598
|
6,258
|
6,285
|
7,237
|
|
5,801
|
5,951
|
6,708
|
6,496
|
Operating costs
|
(4,735)
|
(3,949)
|
(3,919)
|
(4,111)
|
|
(3,748)
|
(3,939)
|
(3,682)
|
(3,588)
|
UK bank levy
|
(180)
|
—
|
—
|
—
|
|
(176)
|
—
|
—
|
—
|
Litigation and conduct
|
(5)
|
—
|
(33)
|
1
|
|
(79)
|
339
|
(1,334)
|
(523)
|
Total operating expenses
|
(4,920)
|
(3,949)
|
(3,952)
|
(4,110)
|
|
(4,003)
|
(3,600)
|
(5,016)
|
(4,111)
|
Other net (expenses)/income
|
(16)
|
9
|
3
|
(5)
|
|
10
|
(1)
|
7
|
(10)
|
Profit before impairment
|
662
|
2,318
|
2,336
|
3,122
|
|
1,808
|
2,350
|
1,699
|
2,375
|
Credit impairment charges
|
(552)
|
(433)
|
(372)
|
(524)
|
|
(498)
|
(381)
|
(200)
|
(141)
|
Profit before tax
|
110
|
1,885
|
1,964
|
2,598
|
|
1,310
|
1,969
|
1,499
|
2,234
|
Tax credit/(charges)
|
23
|
(343)
|
(353)
|
(561)
|
|
33
|
(249)
|
(209)
|
(614)
|
Profit after tax
|
133
|
1,542
|
1,611
|
2,037
|
|
1,343
|
1,720
|
1,290
|
1,620
|
Non-controlling interests
|
(25)
|
(9)
|
(22)
|
(8)
|
|
(22)
|
(2)
|
(20)
|
(1)
|
Other equity instrument holders
|
(219)
|
(259)
|
(261)
|
(246)
|
|
(285)
|
(206)
|
(199)
|
(215)
|
Attributable (loss)/profit
|
(111)
|
1,274
|
1,328
|
1,783
|
|
1,036
|
1,512
|
1,071
|
1,404
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
(0.9)%
|
11.0%
|
11.4%
|
15.0%
|
|
8.9%
|
12.5%
|
8.7%
|
11.5%
|
Average tangible shareholders' equity (£bn)
|
48.9
|
46.5
|
46.7
|
47.6
|
|
46.7
|
48.6
|
49.0
|
48.8
|
Cost: income ratio
|
88%
|
63%
|
63%
|
57%
|
|
69%
|
60%
|
75%
|
63%
|
Loan loss rate (bps)
|
54
|
42
|
37
|
52
|
|
49
|
36
|
20
|
15
|
Basic earnings per share
|
(0.7)p
|
8.3p
|
8.6p
|
11.3p
|
|
6.5p
|
9.4p
|
6.4p
|
8.4p
|
Basic weighted average number of shares (m)
|
15,092
|
15,405
|
15,523
|
15,770
|
|
15,828
|
16,148
|
16,684
|
16,682
|
Period end number of shares (m)
|
15,155
|
15,239
|
15,556
|
15,701
|
|
15,871
|
15,888
|
16,531
|
16,762
|
|
|
|
|
|
|
|
|
|
|
Balance sheet and capital management1
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
333.3
|
339.6
|
337.4
|
343.6
|
|
343.3
|
346.3
|
337.2
|
325.8
|
Loans and advances to banks at amortised cost
|
9.5
|
11.5
|
10.9
|
11.0
|
|
10.0
|
12.5
|
12.5
|
11.4
|
Debt securities at amortised cost
|
56.7
|
54.3
|
53.1
|
48.9
|
|
45.5
|
54.8
|
46.1
|
34.5
|
Loans and advances at amortised cost
|
399.5
|
405.4
|
401.4
|
403.5
|
|
398.8
|
413.7
|
395.8
|
371.7
|
Loans and advances at amortised cost impairment coverage
ratio
|
1.4%
|
1.4%
|
1.4%
|
1.4%
|
|
1.4%
|
1.4%
|
1.4%
|
1.5%
|
Total assets
|
1,477.5
|
1,591.7
|
1,549.7
|
1,539.1
|
|
1,513.7
|
1,726.9
|
1,589.2
|
1,496.1
|
Deposits at amortised cost
|
538.8
|
561.3
|
554.7
|
555.7
|
|
545.8
|
574.4
|
568.7
|
546.5
|
Tangible net asset value per share
|
331p
|
316p
|
291p
|
301p
|
|
295p
|
286p
|
297p
|
294p
|
Common equity tier 1 ratio
|
13.8%
|
14.0%
|
13.8%
|
13.6%
|
|
13.9%
|
13.8%
|
13.6%
|
13.8%
|
Common equity tier 1 capital
|
47.3
|
48.0
|
46.6
|
46.0
|
|
46.9
|
48.6
|
46.7
|
45.3
|
Risk weighted assets
|
342.7
|
341.9
|
336.9
|
338.4
|
|
336.5
|
350.8
|
344.5
|
328.8
|
UK leverage ratio
|
5.2%
|
5.0%
|
5.1%
|
5.1%
|
|
5.3%
|
5.0%
|
5.1%
|
5.0%
|
UK leverage exposure
|
1,168.3
|
1,202.4
|
1,183.7
|
1,168.9
|
|
1,130.0
|
1,232.1
|
1,151.2
|
1,123.5
|
|
|
|
|
|
|
|
|
|
|
Funding and liquidity
|
|
|
|
|
|
|
|
|
|
Group liquidity pool (£bn)
|
298.1
|
335.0
|
330.7
|
333.0
|
|
318.0
|
325.8
|
342.5
|
319.8
|
Liquidity
coverage ratio2
|
161%
|
159%
|
157%
|
157%
|
|
156%
|
156%
|
157%
|
159%
|
Net
stable funding ratio3
|
138%
|
138%
|
139%
|
139%
|
|
137%
|
|
|
|
Loan: deposit ratio
|
74%
|
72%
|
72%
|
73%
|
|
73%
|
72%
|
70%
|
68%
|
1
|
Refer to pages 55 to
59 for further information on
how capital, RWAs and leverage are calculated.
|
2
|
The Liquidity Coverage Ratio is based on the average of the last 12
spot month end ratios. Prior period LCR comparatives have been
updated for consistency.
|
3
|
Represents average of the last four spot quarter end
positions.
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
1,575
|
1,578
|
1,660
|
1,618
|
|
1,600
|
1,561
|
1,393
|
1,339
|
Net fee, commission and other income
|
217
|
295
|
301
|
343
|
|
370
|
355
|
331
|
310
|
Total income
|
1,792
|
1,873
|
1,961
|
1,961
|
|
1,970
|
1,916
|
1,724
|
1,649
|
Operating costs
|
(1,153)
|
(1,058)
|
(1,090)
|
(1,092)
|
|
(1,108)
|
(1,069)
|
(1,085)
|
(998)
|
UK bank levy
|
(30)
|
—
|
—
|
—
|
|
(26)
|
—
|
—
|
—
|
Litigation and conduct
|
(4)
|
9
|
5
|
(2)
|
|
(13)
|
(3)
|
(16)
|
(9)
|
Total operating expenses
|
(1,187)
|
(1,049)
|
(1,085)
|
(1,094)
|
|
(1,147)
|
(1,072)
|
(1,101)
|
(1,007)
|
Other net income/(expenses)
|
—
|
—
|
—
|
—
|
|
1
|
(1)
|
—
|
—
|
Profit before impairment
|
605
|
824
|
876
|
867
|
|
824
|
843
|
623
|
642
|
Credit impairment charges
|
(37)
|
(59)
|
(95)
|
(113)
|
|
(157)
|
(81)
|
—
|
(48)
|
Profit before tax
|
568
|
765
|
781
|
754
|
|
667
|
762
|
623
|
594
|
Attributable profit
|
382
|
531
|
534
|
515
|
|
474
|
549
|
458
|
396
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
202.8
|
204.9
|
206.8
|
208.2
|
|
205.1
|
205.1
|
205.9
|
207.3
|
Total assets
|
293.1
|
299.9
|
304.8
|
308.6
|
|
313.2
|
316.8
|
318.8
|
317.2
|
Customer deposits at amortised cost
|
241.1
|
243.2
|
249.8
|
254.3
|
|
258.0
|
261.0
|
261.5
|
260.3
|
Loan: deposit ratio
|
92%
|
92%
|
90%
|
90%
|
|
87%
|
86%
|
85%
|
85%
|
Risk weighted assets
|
73.5
|
73.2
|
73.0
|
74.6
|
|
73.1
|
73.2
|
72.2
|
72.7
|
Period end allocated tangible equity
|
10.2
|
10.1
|
10.1
|
10.3
|
|
10.1
|
10.1
|
9.9
|
10.1
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
14.9%
|
21.0%
|
20.9%
|
20.0%
|
|
18.7%
|
22.1%
|
18.4%
|
15.6%
|
Average allocated tangible equity (£bn)
|
10.2
|
10.1
|
10.2
|
10.3
|
|
10.2
|
9.9
|
10.0
|
10.1
|
Cost: income ratio
|
66%
|
56%
|
55%
|
56%
|
|
58%
|
56%
|
64%
|
61%
|
Loan loss rate (bps)
|
7
|
10
|
17
|
20
|
|
27
|
14
|
—
|
9
|
Net interest margin
|
3.07%
|
3.04%
|
3.22%
|
3.18%
|
|
3.10%
|
3.01%
|
2.71%
|
2.62%
|
Analysis of Barclays UK
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
Analysis of total income
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Personal Banking
|
1,067
|
1,165
|
1,244
|
1,253
|
|
1,229
|
1,212
|
1,077
|
1,022
|
Barclaycard Consumer UK
|
242
|
238
|
237
|
247
|
|
269
|
283
|
265
|
276
|
Business Banking
|
483
|
470
|
480
|
461
|
|
472
|
421
|
382
|
351
|
Total income
|
1,792
|
1,873
|
1,961
|
1,961
|
|
1,970
|
1,916
|
1,724
|
1,649
|
|
|
|
|
|
|
|
|
|
|
Analysis of credit impairment charges
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
35
|
(85)
|
(92)
|
(28)
|
|
(120)
|
(26)
|
(42)
|
21
|
Barclaycard Consumer UK
|
(73)
|
29
|
(35)
|
(83)
|
|
(12)
|
2
|
84
|
(44)
|
Business Banking
|
1
|
(3)
|
32
|
(2)
|
|
(25)
|
(57)
|
(42)
|
(25)
|
Total credit impairment charges
|
(37)
|
(59)
|
(95)
|
(113)
|
|
(157)
|
(81)
|
—
|
(48)
|
|
|
|
|
|
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Personal Banking
|
170.1
|
172.3
|
173.3
|
173.6
|
|
169.7
|
168.7
|
167.1
|
166.5
|
Barclaycard Consumer UK
|
9.7
|
9.6
|
9.3
|
9.0
|
|
9.2
|
9.0
|
8.8
|
8.4
|
Business Banking
|
23.0
|
23.0
|
24.2
|
25.6
|
|
26.2
|
27.4
|
30.0
|
32.4
|
Total loans and advances to customers at amortised
cost
|
202.8
|
204.9
|
206.8
|
208.2
|
|
205.1
|
205.1
|
205.9
|
207.3
|
|
|
|
|
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
185.4
|
186.1
|
191.1
|
194.3
|
|
195.6
|
197.3
|
197.0
|
196.6
|
Barclaycard Consumer UK
|
—
|
—
|
—
|
—
|
|
—
|
—
|
—
|
—
|
Business Banking
|
55.7
|
57.1
|
58.7
|
60.0
|
|
62.4
|
63.7
|
64.5
|
63.7
|
Total customer deposits at amortised cost
|
241.1
|
243.2
|
249.8
|
254.3
|
|
258.0
|
261.0
|
261.5
|
260.3
|
Barclays International
|
|
|
|
|
|
|
|
|
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
1,458
|
1,655
|
1,730
|
1,354
|
|
1,465
|
1,497
|
1,029
|
936
|
Net trading income
|
720
|
1,461
|
1,278
|
2,419
|
|
1,169
|
1,328
|
2,766
|
2,446
|
Net fee, commission and other income
|
1,576
|
1,326
|
1,432
|
1,509
|
|
1,228
|
1,240
|
1,321
|
1,442
|
Total income
|
3,754
|
4,442
|
4,440
|
5,282
|
|
3,862
|
4,065
|
5,116
|
4,824
|
Operating costs
|
(3,059)
|
(2,816)
|
(2,747)
|
(2,956)
|
|
(2,543)
|
(2,776)
|
(2,537)
|
(2,505)
|
UK bank levy
|
(136)
|
—
|
—
|
—
|
|
(133)
|
—
|
—
|
—
|
Litigation and conduct
|
(7)
|
(10)
|
(33)
|
3
|
|
(67)
|
396
|
(1,319)
|
(513)
|
Total operating expenses
|
(3,202)
|
(2,826)
|
(2,780)
|
(2,953)
|
|
(2,743)
|
(2,380)
|
(3,856)
|
(3,018)
|
Other net (expenses)/income
|
(14)
|
3
|
6
|
3
|
|
5
|
10
|
5
|
8
|
Profit before impairment
|
538
|
1,619
|
1,666
|
2,332
|
|
1,124
|
1,695
|
1,265
|
1,814
|
Credit impairment charges
|
(511)
|
(358)
|
(275)
|
(404)
|
|
(328)
|
(295)
|
(209)
|
(101)
|
Profit before tax
|
27
|
1,261
|
1,391
|
1,928
|
|
796
|
1,400
|
1,056
|
1,713
|
Attributable (loss)/profit
|
(124)
|
848
|
953
|
1,348
|
|
625
|
1,136
|
783
|
1,300
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
126.8
|
130.8
|
126.6
|
131.0
|
|
133.7
|
137.0
|
126.7
|
113.9
|
Loans and advances to banks at amortised cost
|
8.4
|
10.3
|
9.7
|
9.8
|
|
8.7
|
11.0
|
11.3
|
10.2
|
Debt securities at amortised cost
|
39.0
|
36.4
|
35.2
|
30.8
|
|
27.2
|
36.2
|
29.3
|
20.7
|
Loans and advances at amortised cost
|
174.2
|
177.5
|
171.5
|
171.6
|
|
169.6
|
184.2
|
167.3
|
144.8
|
Trading portfolio assets
|
174.6
|
155.4
|
165.1
|
137.7
|
|
133.8
|
126.3
|
126.9
|
134.1
|
Derivative financial instrument assets
|
255.2
|
280.4
|
264.9
|
256.6
|
|
301.7
|
415.7
|
343.5
|
288.8
|
Financial assets at fair value through the income
statement
|
203.7
|
238.3
|
232.2
|
245.0
|
|
210.5
|
244.7
|
209.3
|
203.8
|
Cash collateral and settlement balances
|
103.6
|
136.0
|
123.9
|
125.5
|
|
107.7
|
163.3
|
128.5
|
132.0
|
Other assets
|
254.8
|
285.5
|
268.8
|
275.0
|
|
258.0
|
257.2
|
275.1
|
255.5
|
Total assets
|
1,166.1
|
1,273.1
|
1,226.4
|
1,211.4
|
|
1,181.3
|
1,391.4
|
1,250.6
|
1,159.0
|
Deposits at amortised cost
|
297.7
|
318.2
|
305.0
|
301.6
|
|
287.6
|
313.2
|
307.4
|
286.1
|
Derivative financial instrument liabilities
|
249.8
|
268.3
|
254.5
|
246.7
|
|
288.9
|
394.2
|
321.2
|
277.2
|
Loan: deposit ratio
|
58%
|
56%
|
56%
|
57%
|
|
59%
|
59%
|
54%
|
51%
|
Risk weighted assets
|
259.1
|
259.2
|
254.6
|
255.1
|
|
254.8
|
269.3
|
263.8
|
245.1
|
Period end allocated tangible equity
|
37.6
|
37.1
|
36.7
|
36.8
|
|
36.8
|
38.8
|
38.0
|
35.6
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
(1.3)%
|
9.2%
|
10.3%
|
14.5%
|
|
6.4%
|
11.6%
|
8.4%
|
14.8%
|
Average allocated tangible equity (£bn)
|
37.1
|
36.8
|
37.1
|
37.1
|
|
38.9
|
39.1
|
37.3
|
35.1
|
Cost: income ratio
|
85%
|
64%
|
63%
|
56%
|
|
71%
|
59%
|
75%
|
63%
|
Loan loss rate (bps)
|
114
|
78
|
63
|
94
|
|
75
|
62
|
49
|
28
|
Net interest margin
|
5.43%
|
5.98%
|
5.85%
|
5.87%
|
|
5.71%
|
5.58%
|
4.41%
|
4.15%
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
530
|
700
|
856
|
465
|
|
548
|
606
|
410
|
385
|
Net trading income
|
763
|
1,503
|
1,353
|
2,437
|
|
1,201
|
1,344
|
2,738
|
2,450
|
Net fee, commission and other income
|
1,097
|
879
|
953
|
1,074
|
|
827
|
871
|
885
|
1,103
|
Total income
|
2,390
|
3,082
|
3,162
|
3,976
|
|
2,576
|
2,821
|
4,033
|
3,938
|
Operating costs
|
(2,134)
|
(2,015)
|
(1,984)
|
(2,202)
|
|
(1,796)
|
(2,043)
|
(1,870)
|
(1,921)
|
UK bank levy
|
(129)
|
—
|
—
|
—
|
|
(126)
|
—
|
—
|
—
|
Litigation and conduct
|
(3)
|
7
|
(1)
|
3
|
|
(55)
|
498
|
(1,314)
|
(318)
|
Total operating expenses
|
(2,266)
|
(2,008)
|
(1,985)
|
(2,199)
|
|
(1,977)
|
(1,545)
|
(3,184)
|
(2,239)
|
Other net (expenses)/income
|
(6)
|
2
|
1
|
—
|
|
2
|
—
|
—
|
—
|
Profit before impairment
|
118
|
1,076
|
1,178
|
1,777
|
|
601
|
1,276
|
849
|
1,699
|
Credit impairment (charges)/releases
|
(23)
|
20
|
13
|
(33)
|
|
(41)
|
(46)
|
(65)
|
33
|
Profit before tax
|
95
|
1,096
|
1,191
|
1,744
|
|
560
|
1,230
|
784
|
1,732
|
Attributable (loss)/profit
|
(61)
|
721
|
798
|
1,209
|
|
454
|
1,015
|
579
|
1,316
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
87.8
|
87.9
|
84.8
|
89.2
|
|
90.5
|
93.6
|
86.5
|
79.5
|
Loans and advances to banks at amortised cost
|
7.4
|
9.6
|
9.0
|
9.2
|
|
8.1
|
10.2
|
10.0
|
9.4
|
Debt securities at amortised cost
|
38.9
|
36.3
|
35.1
|
30.7
|
|
27.2
|
36.2
|
29.3
|
20.7
|
Loans and advances at amortised cost
|
134.1
|
133.8
|
128.9
|
129.1
|
|
125.8
|
140.0
|
125.8
|
109.6
|
Trading portfolio assets
|
174.5
|
155.3
|
165.0
|
137.6
|
|
133.7
|
126.1
|
126.7
|
134.0
|
Derivative financial instruments assets
|
255.1
|
280.4
|
264.8
|
256.5
|
|
301.6
|
415.5
|
343.4
|
288.7
|
Financial assets at fair value through the income
statement
|
203.6
|
238.2
|
232.1
|
244.9
|
|
210.5
|
244.6
|
209.2
|
203.8
|
Cash collateral and settlement balances
|
102.9
|
135.2
|
122.5
|
124.7
|
|
106.9
|
162.6
|
127.7
|
131.2
|
Other assets
|
205.4
|
237.2
|
224.6
|
230.3
|
|
222.6
|
220.6
|
237.2
|
222.5
|
Total assets
|
1,075.6
|
1,180.1
|
1,137.9
|
1,123.1
|
|
1,101.1
|
1,309.4
|
1,170.0
|
1,089.8
|
Deposits at amortised cost
|
217.7
|
236.9
|
225.5
|
221.0
|
|
205.8
|
229.5
|
229.5
|
214.7
|
Derivative financial instrument liabilities
|
249.7
|
268.3
|
254.5
|
246.7
|
|
288.9
|
394.2
|
321.2
|
277.1
|
Risk weighted assets
|
216.8
|
219.2
|
216.5
|
216.8
|
|
215.9
|
230.6
|
227.6
|
213.5
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
(0.8)%
|
9.2%
|
10.0%
|
15.2%
|
|
5.4%
|
11.9%
|
7.1%
|
17.1%
|
Average allocated tangible equity (£bn)
|
31.6
|
31.5
|
31.8
|
31.8
|
|
33.7
|
34.0
|
32.7
|
30.8
|
Cost: income ratio
|
95%
|
65%
|
63%
|
55%
|
|
77%
|
55%
|
79%
|
57%
|
Loan loss rate (bps)
|
7
|
(6)
|
(4)
|
10
|
|
13
|
13
|
20
|
(12)
|
Net interest margin
|
3.00%
|
3.65%
|
3.98%
|
3.95%
|
|
3.73%
|
3.56%
|
2.88%
|
2.52%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of total income
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
FICC
|
724
|
1,147
|
1,186
|
1,788
|
|
976
|
1,546
|
1,529
|
1,644
|
Equities
|
431
|
675
|
563
|
704
|
|
440
|
246
|
1,411
|
1,052
|
Global Markets
|
1,155
|
1,822
|
1,749
|
2,492
|
|
1,416
|
1,792
|
2,940
|
2,696
|
Advisory
|
171
|
80
|
130
|
212
|
|
197
|
150
|
236
|
185
|
Equity capital markets
|
38
|
62
|
69
|
50
|
|
40
|
42
|
37
|
47
|
Debt capital markets
|
301
|
233
|
273
|
341
|
|
243
|
341
|
281
|
416
|
Investment Banking fees
|
510
|
375
|
472
|
603
|
|
480
|
533
|
554
|
648
|
Corporate lending
|
40
|
172
|
168
|
95
|
|
(128)
|
(181)
|
(47)
|
125
|
Transaction banking
|
685
|
713
|
773
|
786
|
|
808
|
677
|
586
|
469
|
Corporate
|
725
|
885
|
941
|
881
|
|
680
|
496
|
539
|
594
|
Total income
|
2,390
|
3,082
|
3,162
|
3,976
|
|
2,576
|
2,821
|
4,033
|
3,938
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer, Cards and Payments
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
928
|
955
|
874
|
889
|
|
918
|
891
|
619
|
551
|
Net fee, commission, trading and other income
|
436
|
405
|
404
|
417
|
|
368
|
353
|
464
|
335
|
Total income
|
1,364
|
1,360
|
1,278
|
1,306
|
|
1,286
|
1,244
|
1,083
|
886
|
Operating costs
|
(925)
|
(801)
|
(763)
|
(754)
|
|
(747)
|
(733)
|
(667)
|
(584)
|
UK bank levy
|
(7)
|
—
|
—
|
—
|
|
(7)
|
—
|
—
|
—
|
Litigation and conduct
|
(4)
|
(17)
|
(32)
|
—
|
|
(12)
|
(102)
|
(5)
|
(195)
|
Total operating expenses
|
(936)
|
(818)
|
(795)
|
(754)
|
|
(766)
|
(835)
|
(672)
|
(779)
|
Other net (expenses)/income
|
(8)
|
1
|
5
|
3
|
|
3
|
10
|
5
|
8
|
Profit before impairment
|
420
|
543
|
488
|
555
|
|
523
|
419
|
416
|
115
|
Credit impairment charges
|
(488)
|
(378)
|
(288)
|
(371)
|
|
(287)
|
(249)
|
(144)
|
(134)
|
(Loss)/profit before tax
|
(68)
|
165
|
200
|
184
|
|
236
|
170
|
272
|
(19)
|
Attributable (loss)/profit
|
(63)
|
127
|
155
|
139
|
|
171
|
121
|
204
|
(16)
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
39.0
|
42.9
|
41.7
|
41.8
|
|
43.2
|
43.4
|
40.2
|
34.4
|
Total assets
|
90.5
|
93.0
|
88.5
|
88.3
|
|
80.2
|
82.0
|
80.6
|
69.2
|
Deposits at amortised cost
|
80.0
|
81.3
|
79.5
|
80.6
|
|
81.8
|
83.7
|
77.9
|
71.4
|
Risk weighted assets
|
42.3
|
39.9
|
38.1
|
38.2
|
|
38.9
|
38.7
|
36.2
|
31.6
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
(4.5)%
|
9.6%
|
11.8%
|
10.5%
|
|
13.0%
|
9.5%
|
17.8%
|
(1.5)%
|
Average allocated tangible equity (£bn)
|
5.5
|
5.3
|
5.3
|
5.3
|
|
5.2
|
5.1
|
4.6
|
4.3
|
Cost: income ratio
|
69%
|
60%
|
62%
|
58%
|
|
60%
|
67%
|
62%
|
88%
|
Loan loss rate (bps)
|
449
|
321
|
255
|
332
|
|
245
|
211
|
132
|
145
|
Net interest margin
|
8.44%
|
8.88%
|
8.25%
|
8.42%
|
|
8.40%
|
8.41%
|
6.68%
|
6.56%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of total income
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
International Cards and Consumer Bank
|
944
|
890
|
835
|
900
|
|
860
|
824
|
691
|
538
|
Private Bank
|
306
|
331
|
295
|
258
|
|
285
|
270
|
245
|
214
|
Payments
|
114
|
139
|
148
|
148
|
|
141
|
150
|
147
|
134
|
Total income
|
1,364
|
1,360
|
1,278
|
1,306
|
|
1,286
|
1,244
|
1,083
|
886
|
|
|
|
|
|
|
|
|
|
|
Head Office
|
|
|
|
|
|
|
|
|
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
106
|
14
|
(120)
|
81
|
|
(324)
|
10
|
—
|
66
|
Net fee, commission and other income
|
(54)
|
(71)
|
4
|
(87)
|
|
293
|
(40)
|
(132)
|
(43)
|
Total income
|
52
|
(57)
|
(116)
|
(6)
|
|
(31)
|
(30)
|
(132)
|
23
|
Operating costs
|
(523)
|
(75)
|
(82)
|
(63)
|
|
(97)
|
(94)
|
(60)
|
(85)
|
UK bank levy
|
(14)
|
—
|
—
|
—
|
|
(17)
|
—
|
—
|
—
|
Litigation and conduct
|
6
|
1
|
(5)
|
—
|
|
1
|
(54)
|
1
|
(1)
|
Total operating expenses
|
(531)
|
(74)
|
(87)
|
(63)
|
|
(113)
|
(148)
|
(59)
|
(86)
|
Other net (expenses)/income
|
(2)
|
6
|
(3)
|
(8)
|
|
4
|
(10)
|
2
|
(18)
|
Loss before impairment
|
(481)
|
(125)
|
(206)
|
(77)
|
|
(140)
|
(188)
|
(189)
|
(81)
|
Credit impairment (charges)/releases
|
(4)
|
(16)
|
(2)
|
(7)
|
|
(13)
|
(5)
|
9
|
8
|
Loss before tax
|
(485)
|
(141)
|
(208)
|
(84)
|
|
(153)
|
(193)
|
(180)
|
(73)
|
Attributable loss
|
(369)
|
(105)
|
(159)
|
(80)
|
|
(63)
|
(173)
|
(170)
|
(292)
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Total assets
|
18.3
|
18.7
|
18.5
|
19.1
|
|
19.2
|
18.7
|
19.8
|
19.9
|
Risk weighted assets
|
10.2
|
9.5
|
9.3
|
8.8
|
|
8.6
|
8.2
|
8.6
|
11.0
|
Period end allocated tangible equity
|
2.3
|
1.0
|
(1.5)
|
0.2
|
|
(0.2)
|
(3.5)
|
1.1
|
3.6
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
1.6
|
(0.4)
|
(0.6)
|
0.2
|
|
(2.4)
|
(0.4)
|
1.7
|
3.6
|
Margins and balances
|
||||||
|
Year ended 31.12.23
|
Year ended 31.12.22
|
||||
|
Net interest income
|
Average customer assets
|
Net interest margin
|
Net interest income
|
Average customer assets
|
Net interest margin
|
|
£m
|
£m
|
%
|
£m
|
£m
|
%
|
Barclays UK
|
6,431
|
205,667
|
3.13
|
5,893
|
205,972
|
2.86
|
Corporate and Investment Bank
|
1,991
|
54,600
|
3.65
|
1,796
|
56,008
|
3.21
|
Consumer, Cards and Payments
|
3,646
|
42,910
|
8.50
|
2,979
|
39,193
|
7.60
|
Barclays International
|
5,637
|
97,510
|
5.78
|
4,775
|
95,201
|
5.02
|
Barclays Group
|
12,068
|
303,177
|
3.98
|
10,668
|
301,173
|
3.54
|
Other1
|
641
|
|
|
(96)
|
|
|
Total Barclays Group net interest income
|
12,709
|
|
|
10,572
|
|
|
1
|
Other comprises net interest income from Global Markets within Barclays
International and Head Office including hedge
accounting.
|
Quarterly analysis
|
|
|
|||
|
Q423
|
Q323
|
Q223
|
Q123
|
Q422
|
Net interest income
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
1,575
|
1,578
|
1,660
|
1,618
|
1,600
|
Corporate and Investment Bank
|
409
|
491
|
540
|
551
|
556
|
Consumer, Cards and Payments
|
928
|
955
|
874
|
889
|
918
|
Barclays International
|
1,337
|
1,446
|
1,414
|
1,440
|
1,474
|
Barclays Group
|
2,912
|
3,024
|
3,074
|
3,058
|
3,074
|
|
|
|
|
|
|
Average customer assets
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
203,646
|
205,693
|
207,073
|
206,241
|
204,941
|
Corporate and Investment Bank
|
54,089
|
53,290
|
54,417
|
56,612
|
59,146
|
Consumer, Cards and Payments
|
43,623
|
42,678
|
42,503
|
42,840
|
43,319
|
Barclays International
|
97,712
|
95,968
|
96,920
|
99,452
|
102,465
|
Barclays Group
|
301,358
|
301,661
|
303,993
|
305,693
|
307,406
|
|
|
|
|
|
|
Net interest margin
|
%
|
%
|
%
|
%
|
%
|
Barclays UK
|
3.07
|
3.04
|
3.22
|
3.18
|
3.10
|
Corporate and Investment Bank
|
3.00
|
3.65
|
3.98
|
3.95
|
3.73
|
Consumer, Cards and Payments
|
8.44
|
8.88
|
8.25
|
8.42
|
8.40
|
Barclays International
|
5.43
|
5.98
|
5.85
|
5.87
|
5.71
|
Barclays Group
|
3.83
|
3.98
|
4.06
|
4.06
|
3.97
|
|
Year ended 31.12.23
|
Year ended 31.12.22
|
|
|
£m
|
£m
|
% Change
|
Incentive awards granted:
|
|
|
|
Current year bonus
|
1,202
|
1,241
|
3
|
Deferred bonus
|
543
|
549
|
1
|
Total incentive awards granted
|
1,745
|
1,790
|
3
|
|
|
|
|
Reconciliation of incentive awards granted to income statement
charge:
|
|
|
|
Less: deferred bonuses granted but not charged in current
year
|
(384)
|
(388)
|
1
|
Add: current year charges for deferred bonuses from previous
years
|
390
|
399
|
2
|
Other differences between incentive awards granted and income
statement charge
|
(1)
|
35
|
|
Income statement charge for performance costs
|
1,750
|
1,836
|
5
|
|
|
|
|
Other income statement charges:
|
|
|
|
Salaries
|
5,120
|
4,732
|
(8)
|
Social security costs
|
755
|
714
|
(6)
|
Post-retirement
benefits1
|
539
|
563
|
4
|
Other compensation costs
|
555
|
504
|
(10)
|
Total compensation costs2
|
8,719
|
8,349
|
(4)
|
|
|
|
|
Other resourcing costs
|
|
|
|
Outsourcing
|
601
|
607
|
1
|
Redundancy
and restructuring3
|
452
|
(7)
|
|
Temporary staff costs
|
91
|
113
|
19
|
Other
|
154
|
190
|
19
|
Total other resourcing costs
|
1,298
|
903
|
(44)
|
|
|
|
|
Total staff costs
|
10,017
|
9,252
|
(8)
|
|
|
|
|
Group compensation costs as a % of total income
|
34.4
|
33.5
|
|
Group staff costs as a % of total income
|
39.5
|
37.1
|
|
1
|
Post-retirement benefits charge includes £371m (2022: £313m) in respect of defined contribution
schemes and £168m (2022:
£250m) in respect of
defined benefit schemes.
|
2
|
£860m (2022:
£604m) of Group
compensation cost was capitalised as internally generated software
and excluded from the Staff cost disclosed above.
|
3
|
Redundancy and restructuring cost included £340m relating to
structural cost actions taken in Q4 2023.
|
|
Actual
|
|
Expected1,
2
|
||
|
Year ended
|
Year ended
|
|
Year ended
|
2025 and
|
|
31.12.22
|
31.12.23
|
|
31.12.24
|
beyond
|
|
£m
|
£m
|
|
£m
|
£m
|
Deferred bonuses from 2020 and earlier bonus pools
|
185
|
53
|
|
—
|
—
|
Deferred bonuses from 2021 bonus pool
|
214
|
150
|
|
77
|
14
|
Deferred bonuses from 2022 bonus pool
|
161
|
187
|
|
132
|
82
|
Deferred bonuses from 2023 bonus pool
|
—
|
159
|
|
152
|
174
|
Income statement charge for deferred bonuses
|
560
|
549
|
|
361
|
270
|
1
|
The actual amount charged depends upon whether conditions have been
met and may vary compared with the above expectation.
|
2
|
Does not include the impact of grants which will be made in 2024
and beyond.
|
Grant date
|
Expected payment
date(s)2
and percentage of the deferred bonus
paid
|
Year
|
Income statement charge % profile of
2023 onwards3,4
|
March 2024
|
|
2023
|
33%
|
|
|
2024
|
31%
|
|
March 2025 (33.3%)
|
2025
|
21%
|
|
March 2026 (33.3%)
|
2026
|
13%
|
|
March 2027 (33.3%)
|
2027
|
2%
|
1
|
Represents a typical vesting schedule for deferred awards. Certain
awards may be subject to a 3, 4, 5 or 7 year deferral in line with
regulatory requirements.
|
2
|
Share awards may be subject to an additional holding
period.
|
3
|
The income statement charge is based on the period over which
conditions are met.
|
4
|
Income statement charge profile % disclosed as a percentage of the
award excluding lapse.
|
|
Gross exposure
|
|
Impairment allowance
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
As at 31.12.23
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Retail mortgages
|
146,001
|
19,123
|
1,812
|
166,936
|
|
43
|
77
|
112
|
232
|
Retail credit cards
|
8,094
|
2,128
|
198
|
10,420
|
|
111
|
492
|
107
|
710
|
Retail other
|
6,832
|
1,252
|
264
|
8,348
|
|
56
|
117
|
144
|
317
|
Corporate
loans1
|
54,257
|
8,673
|
1,692
|
64,622
|
|
191
|
214
|
346
|
751
|
Total UK
|
215,184
|
31,176
|
3,966
|
250,326
|
|
401
|
900
|
709
|
2,010
|
Retail mortgages
|
4,201
|
346
|
612
|
5,159
|
|
7
|
28
|
316
|
351
|
Retail credit cards
|
22,315
|
3,450
|
1,522
|
27,287
|
|
412
|
1,138
|
1,226
|
2,776
|
Retail other
|
1,637
|
91
|
229
|
1,957
|
|
3
|
1
|
32
|
36
|
Corporate loans
|
58,248
|
4,629
|
862
|
63,739
|
|
96
|
200
|
252
|
548
|
Total Rest of the World
|
86,401
|
8,516
|
3,225
|
98,142
|
|
518
|
1,367
|
1,826
|
3,711
|
Total loans and advances at amortised cost
|
301,585
|
39,692
|
7,191
|
348,468
|
|
919
|
2,267
|
2,535
|
5,721
|
Debt securities at amortised cost
|
52,869
|
3,907
|
—
|
56,776
|
|
11
|
16
|
—
|
27
|
Total loans and advances at amortised cost including debt
securities
|
354,454
|
43,599
|
7,191
|
405,244
|
|
930
|
2,283
|
2,535
|
5,748
|
Off-balance
sheet loan commitments and financial guarantee
contracts2
|
374,063
|
24,208
|
1,037
|
399,308
|
|
173
|
287
|
44
|
504
|
Total3,4
|
728,517
|
67,807
|
8,228
|
804,552
|
|
1,103
|
2,570
|
2,579
|
6,252
|
|
|
|
|
|
|
|
|
|
|
|
Net exposure
|
|
Coverage ratio
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
As at 31.12.23
|
£m
|
£m
|
£m
|
£m
|
|
%
|
%
|
%
|
%
|
Retail mortgages
|
145,958
|
19,046
|
1,700
|
166,704
|
|
—
|
0.4
|
6.2
|
0.1
|
Retail credit cards
|
7,983
|
1,636
|
91
|
9,710
|
|
1.4
|
23.1
|
54.0
|
6.8
|
Retail other
|
6,776
|
1,135
|
120
|
8,031
|
|
0.8
|
9.3
|
54.5
|
3.8
|
Corporate
loans1
|
54,066
|
8,459
|
1,346
|
63,871
|
|
0.4
|
2.5
|
20.4
|
1.2
|
Total UK
|
214,783
|
30,276
|
3,257
|
248,316
|
|
0.2
|
2.9
|
17.9
|
0.8
|
Retail mortgages
|
4,194
|
318
|
296
|
4,808
|
|
0.2
|
8.1
|
51.6
|
6.8
|
Retail credit cards
|
21,903
|
2,312
|
296
|
24,511
|
|
1.8
|
33.0
|
80.6
|
10.2
|
Retail other
|
1,634
|
90
|
197
|
1,921
|
|
0.2
|
1.1
|
14.0
|
1.8
|
Corporate loans
|
58,152
|
4,429
|
610
|
63,191
|
|
0.2
|
4.3
|
29.2
|
0.9
|
Total Rest of the World
|
85,883
|
7,149
|
1,399
|
94,431
|
|
0.6
|
16.1
|
56.6
|
3.8
|
Total loans and advances at amortised cost
|
300,666
|
37,425
|
4,656
|
342,747
|
|
0.3
|
5.7
|
35.3
|
1.6
|
Debt securities at amortised cost
|
52,858
|
3,891
|
—
|
56,749
|
|
—
|
0.4
|
—
|
—
|
Total loans and advances at amortised cost including debt
securities
|
353,524
|
41,316
|
4,656
|
399,496
|
|
0.3
|
5.2
|
35.3
|
1.4
|
Off-balance
sheet loan commitments and financial guarantee
contracts2
|
373,890
|
23,921
|
993
|
398,804
|
|
—
|
1.2
|
4.2
|
0.1
|
Total3,4
|
727,414
|
65,237
|
5,649
|
798,300
|
|
0.2
|
3.8
|
31.3
|
0.8
|
1
|
Includes Business Banking, which has a gross exposure of
£15.2bn and an impairment allowance of £431m. This
comprises £99m impairment allowance on £9.8bn Stage 1
exposure, £81m on £4.1bn Stage 2 exposure and £251m
on £1.3bn Stage 3 exposure. Excluding this, total coverage for
corporate loans in UK is 0.6%.
|
2
|
Excludes loan commitments and financial guarantees of £16.5bn
carried at fair value and includes exposures relating to financial
assets classified as assets held for sale.
|
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
£183.6bn and impairment allowance of £151m. This
comprises £16m impairment allowance on £182.8bn Stage 1
exposure, £2m on £0.6bn Stage 2 exposure and £133m
on £140m Stage 3 exposure.
|
4
|
The annualised loan loss rate is 46bps after applying the total
impairment charge of £1,881m.
|
Loans and advances to customers classified as assets held for
sale
|
|||||||||||||||
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Total
|
||||||||
|
Gross
|
ECL
|
Coverage
|
|
Gross
|
ECL
|
Coverage
|
|
Gross
|
ECL
|
Coverage
|
|
Gross
|
ECL
|
Coverage
|
As at 31.12.231
|
£m
|
£m
|
%
|
|
£m
|
£m
|
%
|
|
£m
|
£m
|
%
|
|
£m
|
£m
|
%
|
Retail credit cards
|
1,621
|
15
|
0.9
|
|
445
|
41
|
9.2
|
|
92
|
68
|
73.9
|
|
2,158
|
124
|
5.7
|
Retail other
|
1,561
|
20
|
1.3
|
|
288
|
32
|
11.1
|
|
84
|
60
|
71.4
|
|
1,933
|
112
|
5.8
|
Total Rest of the World
|
3,182
|
35
|
1.1
|
|
733
|
73
|
10.0
|
|
176
|
128
|
72.7
|
|
4,091
|
236
|
5.8
|
1
|
In 2022, total gross exposure of £4.3bn and impairment
allowance of £296m was included in loans and advances at
amortised cost which has now been classified as assets held for
sale. This comprises £37m ECL on £3.1bn Stage 1 exposure,
£141m on £1.0bn Stage 2 exposure and £118m on
£153m Stage 3 exposure
|
|
Gross exposure
|
|
Impairment allowance
|
||||||
|
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
|
Retail mortgages
|
145,821
|
17,735
|
1,481
|
165,037
|
|
21
|
49
|
58
|
128
|
Retail credit cards
|
7,119
|
2,569
|
251
|
9,939
|
|
127
|
493
|
137
|
757
|
Retail other
|
8,202
|
1,197
|
293
|
9,692
|
|
72
|
138
|
145
|
355
|
Corporate
loans1
|
55,187
|
12,528
|
2,008
|
69,723
|
|
317
|
264
|
360
|
941
|
Total UK
|
216,329
|
34,029
|
4,033
|
254,391
|
|
537
|
944
|
700
|
2,181
|
Retail mortgages
|
7,851
|
465
|
933
|
9,249
|
|
8
|
24
|
356
|
388
|
Retail credit cards
|
22,669
|
3,880
|
1,129
|
27,678
|
|
331
|
1,127
|
818
|
2,276
|
Retail other
|
5,268
|
271
|
427
|
5,966
|
|
28
|
28
|
163
|
219
|
Corporate loans
|
56,704
|
4,290
|
564
|
61,558
|
|
144
|
160
|
182
|
486
|
Total Rest of the World
|
92,492
|
8,906
|
3,053
|
104,451
|
|
511
|
1,339
|
1,519
|
3,369
|
Total loans and advances at amortised cost
|
308,821
|
42,935
|
7,086
|
358,842
|
|
1,048
|
2,283
|
2,219
|
5,550
|
Debt securities
|
41,724
|
3,805
|
—
|
45,529
|
|
9
|
33
|
—
|
42
|
Total loans and advances at amortised cost including debt
securities
|
350,545
|
46,740
|
7,086
|
404,371
|
|
1,057
|
2,316
|
2,219
|
5,592
|
Off-balance
sheet loan commitments and financial guarantee
contracts2
|
372,945
|
30,694
|
1,180
|
404,819
|
|
245
|
315
|
23
|
583
|
Total3,4
|
723,490
|
77,434
|
8,266
|
809,190
|
|
1,302
|
2,631
|
2,242
|
6,175
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Net exposure
|
|
Coverage ratio
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
As at 31.12.22
|
£m
|
£m
|
£m
|
£m
|
|
%
|
%
|
%
|
%
|
Retail mortgages
|
145,800
|
17,686
|
1,423
|
164,909
|
|
—
|
0.3
|
3.9
|
0.1
|
Retail credit cards
|
6,992
|
2,076
|
114
|
9,182
|
|
1.8
|
19.2
|
54.6
|
7.6
|
Retail other
|
8,130
|
1,059
|
148
|
9,337
|
|
0.9
|
11.5
|
49.5
|
3.7
|
Corporate
loans1
|
54,870
|
12,264
|
1,648
|
68,782
|
|
0.6
|
2.1
|
17.9
|
1.3
|
Total UK
|
215,792
|
33,085
|
3,333
|
252,210
|
|
0.2
|
2.8
|
17.4
|
0.9
|
Retail mortgages
|
7,843
|
441
|
577
|
8,861
|
|
0.1
|
5.2
|
38.2
|
4.2
|
Retail credit cards
|
22,338
|
2,753
|
311
|
25,402
|
|
1.5
|
29.0
|
72.5
|
8.2
|
Retail other
|
5,240
|
243
|
264
|
5,747
|
|
0.5
|
10.3
|
38.2
|
3.7
|
Corporate loans
|
56,560
|
4,130
|
382
|
61,072
|
|
0.3
|
3.7
|
32.3
|
0.8
|
Total Rest of the World
|
91,981
|
7,567
|
1,534
|
101,082
|
|
0.6
|
15.0
|
49.8
|
3.2
|
Total loans and advances at amortised cost
|
307,773
|
40,652
|
4,867
|
353,292
|
|
0.3
|
5.3
|
31.3
|
1.5
|
Debt securities
|
41,715
|
3,772
|
—
|
45,487
|
|
—
|
0.9
|
—
|
0.1
|
Total loans and advances at amortised cost including debt
securities
|
349,488
|
44,424
|
4,867
|
398,779
|
|
0.3
|
5.0
|
31.3
|
1.4
|
Off-balance
sheet loan commitments and financial guarantee
contracts2
|
372,700
|
30,379
|
1,157
|
404,236
|
|
0.1
|
1.0
|
1.9
|
0.1
|
Total3,4
|
722,188
|
74,803
|
6,024
|
803,015
|
|
0.2
|
3.4
|
27.1
|
0.8
|
1
|
Includes Business Banking, which has a gross exposure of
£18.1bn and an impairment allowance of £519m. This
comprises £149m impairment allowance on £10.5bn Stage 1
exposure, £121m on £6.0bn Stage 2 exposure and £249m
on £1.6bn Stage 3 exposure. Excluding this, total coverage for
corporate loans in UK is 0.8%.
|
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 impairment allowance on £178.4bn Stage 1
exposure, £9m on £1.5bn Stage 2 exposure and £144m
on £149m Stage 3 exposure.
|
4
|
The annualised loan loss rate is 30bps after applying the total
impairment charge of £1,220m.
|
|
|
Stage 2
|
|
|
|||
As at 31.12.23
|
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
|
Retail mortgages
|
150,202
|
16,834
|
1,971
|
664
|
19,469
|
2,424
|
172,095
|
Retail credit cards
|
30,409
|
4,858
|
392
|
328
|
5,578
|
1,720
|
37,707
|
Retail other
|
8,469
|
1,094
|
126
|
123
|
1,343
|
493
|
10,305
|
Corporate loans
|
112,505
|
12,960
|
179
|
163
|
13,302
|
2,554
|
128,361
|
Total
|
301,585
|
35,746
|
2,668
|
1,278
|
39,692
|
7,191
|
348,468
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Retail mortgages
|
50
|
73
|
20
|
12
|
105
|
428
|
583
|
Retail credit cards
|
523
|
1,257
|
166
|
207
|
1,630
|
1,333
|
3,486
|
Retail other
|
59
|
82
|
18
|
18
|
118
|
176
|
353
|
Corporate loans
|
287
|
399
|
8
|
7
|
414
|
598
|
1,299
|
Total
|
919
|
1,811
|
212
|
244
|
2,267
|
2,535
|
5,721
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Retail mortgages
|
150,152
|
16,761
|
1,951
|
652
|
19,364
|
1,996
|
171,512
|
Retail credit cards
|
29,886
|
3,601
|
226
|
121
|
3,948
|
387
|
34,221
|
Retail other
|
8,410
|
1,012
|
108
|
105
|
1,225
|
317
|
9,952
|
Corporate loans
|
112,218
|
12,561
|
171
|
156
|
12,888
|
1,956
|
127,062
|
Total
|
300,666
|
33,935
|
2,456
|
1,034
|
37,425
|
4,656
|
342,747
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Retail mortgages
|
—
|
0.4
|
1.0
|
1.8
|
0.5
|
17.7
|
0.3
|
Retail credit cards
|
1.7
|
25.9
|
42.3
|
63.1
|
29.2
|
77.5
|
9.2
|
Retail other
|
0.7
|
7.5
|
14.3
|
14.6
|
8.8
|
35.7
|
3.4
|
Corporate loans
|
0.3
|
3.1
|
4.5
|
4.3
|
3.1
|
23.4
|
1.0
|
Total
|
0.3
|
5.1
|
7.9
|
19.1
|
5.7
|
35.3
|
1.6
|
As at 31.12.22
|
|
|
|
|
|
|
|
Gross exposure
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Retail mortgages
|
153,672
|
15,990
|
1,684
|
526
|
18,200
|
2,414
|
174,286
|
Retail credit cards
|
29,788
|
5,731
|
284
|
434
|
6,449
|
1,380
|
37,617
|
Retail other
|
13,470
|
1,232
|
104
|
132
|
1,468
|
720
|
15,658
|
Corporate loans
|
111,891
|
16,552
|
159
|
107
|
16,818
|
2,572
|
131,281
|
Total
|
308,821
|
39,505
|
2,231
|
1,199
|
42,935
|
7,086
|
358,842
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Retail mortgages
|
29
|
53
|
11
|
9
|
73
|
414
|
516
|
Retail credit cards
|
458
|
1,334
|
100
|
186
|
1,620
|
955
|
3,033
|
Retail other
|
100
|
118
|
22
|
26
|
166
|
308
|
574
|
Corporate loans
|
461
|
401
|
13
|
10
|
424
|
542
|
1,427
|
Total
|
1,048
|
1,906
|
146
|
231
|
2,283
|
2,219
|
5,550
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Retail mortgages
|
153,643
|
15,937
|
1,673
|
517
|
18,127
|
2,000
|
173,770
|
Retail credit cards
|
29,330
|
4,397
|
184
|
248
|
4,829
|
425
|
34,584
|
Retail other
|
13,370
|
1,114
|
82
|
106
|
1,302
|
412
|
15,084
|
Corporate loans
|
111,430
|
16,151
|
146
|
97
|
16,394
|
2,030
|
129,854
|
Total
|
307,773
|
37,599
|
2,085
|
968
|
40,652
|
4,867
|
353,292
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Retail mortgages
|
—
|
0.3
|
0.7
|
1.7
|
0.4
|
17.1
|
0.3
|
Retail credit cards
|
1.5
|
23.3
|
35.2
|
42.9
|
25.1
|
69.2
|
8.1
|
Retail other
|
0.7
|
9.6
|
21.2
|
19.7
|
11.3
|
42.8
|
3.7
|
Corporate loans
|
0.4
|
2.4
|
8.2
|
9.3
|
2.5
|
21.1
|
1.1
|
Total
|
0.3
|
4.8
|
6.5
|
19.3
|
5.3
|
31.3
|
1.5
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
||||
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Retail mortgages
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2023
|
153,672
|
29
|
18,200
|
73
|
2,414
|
414
|
174,286
|
516
|
Transfers from Stage 1 to Stage 2
|
(9,557)
|
(2)
|
9,557
|
2
|
—
|
—
|
—
|
—
|
Transfers from Stage 2 to Stage 1
|
6,052
|
22
|
(6,052)
|
(22)
|
—
|
—
|
—
|
—
|
Transfers to Stage 3
|
(453)
|
—
|
(530)
|
(13)
|
983
|
13
|
—
|
—
|
Transfers from Stage 3
|
26
|
1
|
122
|
2
|
(148)
|
(3)
|
—
|
—
|
Business
activity in the period1
|
23,329
|
13
|
978
|
7
|
26
|
11
|
24,333
|
31
|
Refinements to models used for calculation
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(11,505)
|
(8)
|
(1,136)
|
65
|
(502)
|
27
|
(13,143)
|
84
|
Final repayments
|
(10,837)
|
(3)
|
(1,666)
|
(9)
|
(328)
|
(15)
|
(12,831)
|
(27)
|
Disposals2
|
(525)
|
(2)
|
(4)
|
—
|
(2)
|
—
|
(531)
|
(2)
|
Write-offs
|
—
|
—
|
—
|
—
|
(19)
|
(19)
|
(19)
|
(19)
|
As at 31 December 2023
|
150,202
|
50
|
19,469
|
105
|
2,424
|
428
|
172,095
|
583
|
|
|
|
|
|
|
|
|
|
Retail credit cards
|
|
|
|
|
|
|
|
|
As at 1 January 2023
|
29,788
|
458
|
6,449
|
1,620
|
1,380
|
955
|
37,617
|
3,033
|
Transfers from Stage 1 to Stage 2
|
(2,406)
|
(68)
|
2,406
|
68
|
—
|
—
|
—
|
—
|
Transfers from Stage 2 to Stage 1
|
2,900
|
590
|
(2,900)
|
(590)
|
—
|
—
|
—
|
—
|
Transfers to Stage 3
|
(678)
|
(27)
|
(874)
|
(374)
|
1,552
|
401
|
—
|
—
|
Transfers from Stage 3
|
54
|
32
|
31
|
18
|
(85)
|
(50)
|
—
|
—
|
Business activity in the period
|
2,775
|
60
|
332
|
116
|
29
|
25
|
3,136
|
201
|
Refinements
to models used for calculation3
|
—
|
(28)
|
—
|
37
|
—
|
11
|
—
|
20
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(162)
|
(465)
|
649
|
797
|
(47)
|
998
|
440
|
1,330
|
Final repayments
|
(241)
|
(14)
|
(70)
|
(21)
|
(26)
|
(19)
|
(337)
|
(54)
|
Transfers
to assets held for sale4
|
(1,621)
|
(15)
|
(445)
|
(41)
|
(92)
|
(68)
|
(2,158)
|
(124)
|
Disposals2
|
—
|
—
|
—
|
—
|
(186)
|
(115)
|
(186)
|
(115)
|
Write-offs
|
—
|
—
|
—
|
—
|
(805)
|
(805)
|
(805)
|
(805)
|
As at 31 December 2023
|
30,409
|
523
|
5,578
|
1,630
|
1,720
|
1,333
|
37,707
|
3,486
|
1
|
Business activity in the year reported within Retail mortgages
includes an acquisition of Kensington Mortgage Company in UK
Mortgages of £2.4bn.
|
2
|
The £531m of disposals reported within Retail mortgages relate
to transfer of facilities to a non-consolidated special purpose
vehicle for the purpose of securitisation. The £186m of
disposals reported within Retail credit cards include debt sales
undertaken during the year.
|
3
|
Refinements to models used for calculation reported within Retail
credit cards include a £88m movement in UK Cards, £43m
movement in US Cards and £(111)m movement in German consumer
finance business. These reflect model enhancements made during the
year. Barclays continually reviews the output of models to
determine accuracy of the ECL calculation including review of model
monitoring, external benchmarking and experience of model operation
over an extended period of time. This helps to ensure that the
models used continue to reflect the risks inherent across the
businesses.
|
4
|
Transfers to assets held for sale reported within Retail credit
cards relate to the German consumer finance business
portfolio.
|
Loans and advances at amortised cost
|
|
|
|
|
|
|
||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
||||
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Retail other
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2023
|
13,470
|
100
|
1,468
|
166
|
720
|
308
|
15,658
|
574
|
Transfers from Stage 1 to Stage 2
|
(1,179)
|
(13)
|
1,179
|
13
|
—
|
—
|
—
|
—
|
Transfers from Stage 2 to Stage 1
|
463
|
36
|
(463)
|
(36)
|
—
|
—
|
—
|
—
|
Transfers to Stage 3
|
(549)
|
(4)
|
(154)
|
(44)
|
703
|
48
|
—
|
—
|
Transfers from Stage 3
|
33
|
3
|
9
|
4
|
(42)
|
(7)
|
—
|
—
|
Business activity in the period
|
7,302
|
27
|
197
|
23
|
28
|
21
|
7,527
|
71
|
Refinements to models used for calculation
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(4,163)
|
(57)
|
(247)
|
31
|
(146)
|
115
|
(4,556)
|
89
|
Final repayments
|
(5,347)
|
(13)
|
(358)
|
(7)
|
(421)
|
(44)
|
(6,126)
|
(64)
|
Transfers
to assets held for sale1
|
(1,561)
|
(20)
|
(288)
|
(32)
|
(84)
|
(60)
|
(1,933)
|
(112)
|
Disposals2
|
—
|
—
|
—
|
—
|
(134)
|
(74)
|
(134)
|
(74)
|
Write-offs
|
—
|
—
|
—
|
—
|
(131)
|
(131)
|
(131)
|
(131)
|
As at 31 December 2023
|
8,469
|
59
|
1,343
|
118
|
493
|
176
|
10,305
|
353
|
|
|
|
|
|
|
|
|
|
Corporate loans
|
|
|
|
|
|
|
|
|
As at 1 January 2023
|
111,891
|
461
|
16,818
|
424
|
2,572
|
542
|
131,281
|
1,427
|
Transfers from Stage 1 to Stage 2
|
(6,172)
|
(45)
|
6,172
|
45
|
—
|
—
|
—
|
—
|
Transfers from Stage 2 to Stage 1
|
5,592
|
108
|
(5,592)
|
(108)
|
—
|
—
|
—
|
—
|
Transfers to Stage 3
|
(758)
|
(10)
|
(1,011)
|
(27)
|
1,769
|
37
|
—
|
—
|
Transfers from Stage 3
|
195
|
16
|
403
|
22
|
(598)
|
(38)
|
—
|
—
|
Business activity in the period
|
23,213
|
43
|
933
|
29
|
205
|
29
|
24,351
|
101
|
Refinements
to models used for calculation3
|
—
|
(61)
|
—
|
174
|
—
|
—
|
—
|
113
|
Net
drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes4
|
2,079
|
(179)
|
(1,618)
|
(73)
|
(667)
|
405
|
(206)
|
153
|
Final repayments
|
(23,149)
|
(43)
|
(2,689)
|
(46)
|
(406)
|
(65)
|
(26,244)
|
(154)
|
Disposals2
|
(386)
|
(3)
|
(114)
|
(26)
|
(108)
|
(99)
|
(608)
|
(128)
|
Write-offs
|
—
|
—
|
—
|
—
|
(213)
|
(213)
|
(213)
|
(213)
|
As at 31 December 2023
|
112,505
|
287
|
13,302
|
414
|
2,554
|
598
|
128,361
|
1,299
|
1
|
Transfers to assets held for sale reported within Retail other
relate to the German consumer finance business
portfolio.
|
2
|
The £134m of disposals reported within Retail other include
£64m part sale of Wealth portfolio in Italy and £70m of
debt sales undertaken during the year. The £608m of disposals
reported within Corporate loans relate to debt sales undertaken
during the year.
|
3
|
Refinements to models used for calculation reported within
Corporate loans include a £93m movement in Corporate and
Investment Bank and £20m movement in Barclaycard Payments.
These reflect model enhancements made during the year. Barclays
continually reviews the output of models to determine accuracy of
the ECL calculation including review of model monitoring, external
benchmarking and experience of model operation over an extended
period of time. This helps to ensure that the models used continue
to reflect the risks inherent across the businesses.
|
4
|
'Net drawdowns, repayments, net re-measurement and movements due to
exposure and risk parameter changes' reported within Corporate
loans also include assets of £0.8bn derecognised due to
payment received on defaulted loans from government guarantees
issued under government’s Bounce Back Loans
Scheme.
|
Reconciliation of ECL movement to impairment charge/(release) for
the period
|
|
|||||||
|
|
|
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
|
|
|
|
£m
|
£m
|
£m
|
£m
|
Retail mortgages
|
23
|
32
|
33
|
88
|
||||
Retail credit cards
|
80
|
51
|
1,366
|
1,497
|
||||
Retail other
|
(21)
|
(16)
|
133
|
96
|
||||
Corporate loans
|
(171)
|
16
|
368
|
213
|
||||
ECL movements excluding assets held for sale, disposals and
write-offs1
|
(89)
|
83
|
1,900
|
1,894
|
||||
ECL
movement on loan
commitments and other financial guarantees
|
(72)
|
(28)
|
21
|
(79)
|
||||
ECL
movement on other financial assets
|
6
|
(7)
|
(11)
|
(12)
|
||||
ECL movement on debt securities
|
2
|
(17)
|
—
|
(15)
|
||||
Recoveries
and reimbursements2
|
4
|
(4)
|
(73)
|
(73)
|
||||
Total
exchange and other adjustments
|
|
|
|
166
|
||||
Total income statement charge for the period
|
|
|
|
1,881
|
1
|
In 2023, gross write-offs amounted to £1,168m (2022: £1,620m) and post write-off recoveries
amounted to £44m (2022:
£64m). Net write-offs
represent gross write-offs less post write-off recoveries and
amounted to £1,124m (2022:
£1,556m).
|
2
|
Recoveries and reimbursements include £29m for reimbursements expected to be
received under the arrangement where Group has entered into
financial guarantee contracts which provide credit protection over
certain assets with third parties and cash recoveries of previously
written off amounts of £44m.
|
Loan commitments and financial guarantees
|
||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
||||
|
Gross
exposure
|
ECL
|
Gross
exposure
|
ECL
|
Gross
exposure
|
ECL
|
Gross
exposure
|
ECL
|
Retail mortgages
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2023
|
11,714
|
—
|
450
|
—
|
6
|
—
|
12,170
|
—
|
Net transfers between stages
|
(62)
|
—
|
53
|
—
|
9
|
—
|
—
|
—
|
Business activity in the period
|
4,184
|
—
|
—
|
—
|
—
|
—
|
4,184
|
—
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(7,669)
|
—
|
(11)
|
—
|
(11)
|
—
|
(7,691)
|
—
|
Limit management and final repayments
|
(391)
|
—
|
(44)
|
—
|
—
|
—
|
(435)
|
—
|
As at 31 December 2023
|
7,776
|
—
|
448
|
—
|
4
|
—
|
8,228
|
—
|
|
|
|
|
|
|
|
|
|
Retail credit cards1
|
|
|
|
|
|
|
|
|
As at 1 January 2023
|
144,957
|
50
|
5,435
|
83
|
228
|
—
|
150,620
|
133
|
Net transfers between stages
|
448
|
61
|
(538)
|
(61)
|
90
|
—
|
—
|
—
|
Business activity in the period
|
19,098
|
16
|
224
|
13
|
1
|
—
|
19,323
|
29
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(5,863)
|
(59)
|
(1,769)
|
53
|
(101)
|
—
|
(7,733)
|
(6)
|
Limit management and final repayments
|
(13,849)
|
(9)
|
(545)
|
(34)
|
(76)
|
—
|
(14,470)
|
(43)
|
As at 31 December 2023
|
144,791
|
59
|
2,807
|
54
|
142
|
—
|
147,740
|
113
|
|
|
|
|
|
|
|
|
|
Retail other1
|
|
|
|
|
|
|
|
|
As at 1 January 2023
|
10,427
|
5
|
520
|
—
|
80
|
—
|
11027
|
5
|
Net transfers between stages
|
(171)
|
—
|
140
|
—
|
31
|
—
|
—
|
—
|
Business activity in the period
|
1,639
|
—
|
1
|
—
|
4
|
—
|
1,644
|
—
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(1,690)
|
1
|
(93)
|
2
|
(59)
|
—
|
(1,842)
|
3
|
Limit management and final repayments
|
(1,598)
|
—
|
(33)
|
—
|
(12)
|
—
|
(1,643)
|
—
|
As at 31 December 2023
|
8,607
|
6
|
535
|
2
|
44
|
—
|
9,186
|
8
|
|
|
|
|
|
|
|
|
|
Corporate loans
|
|
|
|
|
|
|
|
|
As at 1 January 2023
|
205,847
|
190
|
24,289
|
232
|
866
|
23
|
231,002
|
445
|
Net transfers between stages
|
2,416
|
23
|
(2,423)
|
(23)
|
7
|
—
|
—
|
—
|
Business activity in the period
|
54,807
|
27
|
2,271
|
43
|
39
|
2
|
57,117
|
72
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
3,556
|
(106)
|
97
|
25
|
206
|
24
|
3,859
|
(57)
|
Limit management and final repayments
|
(53,737)
|
(26)
|
(3,816)
|
(46)
|
(271)
|
(5)
|
(57,824)
|
(77)
|
As at 31 December 2023
|
212,889
|
108
|
20,418
|
231
|
847
|
44
|
234,154
|
383
|
1.
|
Loan commitments reported within Retail credit cards and Retail
other also include financial assets classified as held for
sale
|
|
Impairment allowance pre management
adjustments2
|
Economic uncertainty adjustments
|
Other adjustments
|
Management adjustments
|
Total impairment
allowance3
|
Proportion of Management adjustments to total impairment
allowance
|
|
|
(a)
|
(b)
|
(a+b)
|
|
|
As at 31 December 2023
|
£m
|
£m
|
£m
|
£m
|
£m
|
%
|
Retail mortgages
|
54
|
57
|
121
|
178
|
232
|
76.7
|
Retail credit cards
|
700
|
45
|
(9)
|
36
|
736
|
4.9
|
Retail other
|
251
|
9
|
62
|
71
|
322
|
22.0
|
Corporate loans
|
761
|
71
|
10
|
81
|
842
|
9.6
|
Total UK
|
1,766
|
182
|
184
|
366
|
2,132
|
17.2
|
Retail mortgages
|
354
|
—
|
(3)
|
(3)
|
351
|
(0.9)
|
Retail credit cards
|
2,855
|
—
|
8
|
8
|
2,863
|
0.3
|
Retail other
|
45
|
—
|
(6)
|
(6)
|
39
|
(15.4)
|
Corporate loans
|
828
|
16
|
(4)
|
12
|
840
|
1.4
|
Total Rest of the World
|
4,082
|
16
|
(5)
|
11
|
4,093
|
0.3
|
Total
|
5,848
|
198
|
179
|
377
|
6,225
|
6.1
|
Debt securities at amortised cost
|
27
|
—
|
—
|
—
|
27
|
—
|
Total including debt securities at amortised cost
|
5,875
|
198
|
179
|
377
|
6,252
|
6.0
|
|
|
|
|
|
|
|
As at 31 December 2022
|
£m
|
£m
|
£m
|
£m
|
£m
|
%
|
Retail mortgages
|
39
|
4
|
85
|
89
|
128
|
69.5
|
Retail credit cards
|
679
|
93
|
32
|
125
|
804
|
15.5
|
Retail other
|
257
|
23
|
80
|
103
|
360
|
28.6
|
Corporate loans
|
682
|
249
|
166
|
415
|
1,097
|
37.8
|
Total UK
|
1,657
|
369
|
363
|
732
|
2,389
|
30.6
|
Retail mortgages
|
388
|
—
|
—
|
—
|
388
|
—
|
Retail credit cards
|
2,307
|
—
|
55
|
55
|
2,362
|
2.3
|
Retail other
|
198
|
2
|
19
|
21
|
219
|
9.6
|
Corporate loans
|
1,058
|
(54)
|
(229)
|
(283)
|
775
|
(36.5)
|
Total Rest of the World
|
3,951
|
(52)
|
(155)
|
(207)
|
3,744
|
(5.5)
|
Total
|
5,608
|
317
|
208
|
525
|
6,133
|
8.6
|
Debt securities at amortised cost
|
42
|
—
|
—
|
—
|
42
|
—
|
Total including debt securities at amortised cost
|
5,650
|
317
|
208
|
525
|
6,175
|
8.5
|
1
|
Positive values reflect an increase in impairment allowance and
negative values reflect a reduction in the impairment
allowance.
|
2
|
Includes £5.2bn (2022: £4.8bn) of modelled ECL,
£0.4bn (2022: £0.4bn) of individually assessed
impairments and £0.3bn (2022: £0.5bn) ECL from
non-modelled exposures and debt securities.
|
3
|
Total impairment allowance consists of ECL stock on drawn and
undrawn exposure.
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
As at 31 December 2023
|
£m
|
£m
|
£m
|
£m
|
Retail mortgages
|
12
|
32
|
13
|
57
|
Retail credit cards
|
8
|
37
|
—
|
45
|
Retail other
|
3
|
6
|
—
|
9
|
Corporate loans
|
48
|
12
|
11
|
71
|
Total UK
|
71
|
87
|
24
|
182
|
Retail mortgages
|
—
|
—
|
—
|
—
|
Retail credit cards
|
—
|
—
|
—
|
—
|
Retail other
|
—
|
—
|
—
|
—
|
Corporate loans
|
4
|
12
|
—
|
16
|
Total Rest of the World
|
4
|
12
|
—
|
16
|
Total
|
75
|
99
|
24
|
198
|
As at 31 December 2022
|
£m
|
£m
|
£m
|
£m
|
Retail mortgages
|
1
|
3
|
—
|
4
|
Retail credit cards
|
17
|
76
|
—
|
93
|
Retail other
|
7
|
15
|
1
|
23
|
Corporate loans
|
189
|
60
|
—
|
249
|
Total UK
|
214
|
154
|
1
|
369
|
Retail mortgages
|
—
|
—
|
—
|
—
|
Retail credit cards
|
—
|
—
|
—
|
—
|
Retail other
|
—
|
2
|
—
|
2
|
Corporate loans
|
(8)
|
(46)
|
—
|
(54)
|
Total Rest of the World
|
(8)
|
(44)
|
—
|
(52)
|
Total
|
206
|
110
|
1
|
317
|
Macroeconomic variables used in the calculation of ECL
|
|||||
As at 31.12.23
|
2023
|
2024
|
2025
|
2026
|
2027
|
Baseline
|
%
|
%
|
%
|
%
|
%
|
UK
GDP1
|
0.5
|
0.3
|
1.2
|
1.6
|
1.6
|
UK
unemployment2
|
4.2
|
4.7
|
4.7
|
4.8
|
5.0
|
UK
HPI3
|
(3.3)
|
(5.1)
|
0.7
|
3.1
|
5.3
|
UK bank rate
|
4.7
|
4.9
|
4.1
|
3.8
|
3.5
|
US
GDP1
|
2.4
|
1.3
|
1.7
|
1.9
|
1.9
|
US
unemployment4
|
3.7
|
4.3
|
4.3
|
4.3
|
4.3
|
US
HPI5
|
5.4
|
3.4
|
3.0
|
3.3
|
3.3
|
US federal funds rate
|
5.1
|
5.0
|
3.9
|
3.8
|
3.8
|
|
|
|
|
|
|
Downside 2
|
|
|
|
|
|
UK
GDP1
|
0.5
|
(1.5)
|
(2.6)
|
2.4
|
1.6
|
UK
unemployment2
|
4.2
|
5.2
|
7.9
|
6.3
|
5.5
|
UK
HPI3
|
(3.3)
|
(19.3)
|
(16.8)
|
14.5
|
12.4
|
UK bank rate
|
4.7
|
6.6
|
1.3
|
1.0
|
1.0
|
US
GDP1
|
2.4
|
(0.6)
|
(2.0)
|
3.1
|
2.0
|
US
unemployment4
|
3.7
|
5.2
|
7.2
|
5.9
|
5.2
|
US
HPI5
|
5.4
|
(6.5)
|
(5.7)
|
7.2
|
6.4
|
US federal funds rate
|
5.1
|
6.3
|
1.8
|
1.5
|
1.5
|
|
|
|
|
|
|
Downside 1
|
|
|
|
|
|
UK
GDP1
|
0.5
|
(0.6)
|
(0.7)
|
2.0
|
1.6
|
UK
unemployment2
|
4.2
|
4.9
|
6.3
|
5.6
|
5.2
|
UK
HPI3
|
(3.3)
|
(12.4)
|
(8.3)
|
8.7
|
8.8
|
UK bank rate
|
4.7
|
5.8
|
2.7
|
2.5
|
2.3
|
US
GDP1
|
2.4
|
0.3
|
(0.2)
|
2.5
|
1.9
|
US
unemployment4
|
3.7
|
4.7
|
5.8
|
5.1
|
4.8
|
US
HPI5
|
5.4
|
(1.7)
|
(1.4)
|
5.2
|
4.8
|
US federal funds rate
|
5.1
|
5.7
|
2.9
|
2.8
|
2.8
|
|
|
|
|
|
|
Upside 2
|
|
|
|
|
|
UK
GDP1
|
0.5
|
2.4
|
3.7
|
2.9
|
2.4
|
UK
unemployment2
|
4.2
|
3.9
|
3.5
|
3.6
|
3.6
|
UK
HPI3
|
(3.3)
|
7.8
|
7.6
|
4.5
|
5.6
|
UK bank rate
|
4.7
|
4.3
|
2.7
|
2.5
|
2.5
|
US
GDP1
|
2.4
|
2.8
|
3.1
|
2.8
|
2.8
|
US
unemployment4
|
3.7
|
3.5
|
3.6
|
3.6
|
3.6
|
US
HPI5
|
5.4
|
6.1
|
4.3
|
4.5
|
4.6
|
US federal funds rate
|
5.1
|
4.3
|
2.9
|
2.8
|
2.8
|
|
|
|
|
|
|
Upside 1
|
|
|
|
|
|
UK
GDP1
|
0.5
|
1.4
|
2.5
|
2.3
|
2.0
|
UK
unemployment2
|
4.2
|
4.3
|
4.1
|
4.2
|
4.3
|
UK
HPI3
|
(3.3)
|
1.2
|
4.1
|
3.8
|
5.4
|
UK bank rate
|
4.7
|
4.6
|
3.4
|
3.3
|
3.0
|
US
GDP1
|
2.4
|
2.0
|
2.4
|
2.4
|
2.4
|
US
unemployment4
|
3.7
|
3.9
|
3.9
|
4.0
|
4.0
|
US
HPI5
|
5.4
|
4.7
|
3.7
|
3.9
|
3.9
|
US federal funds rate
|
5.1
|
4.7
|
3.5
|
3.3
|
3.3
|
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.
|
As at 31.12.22
|
2022
|
2023
|
2024
|
2025
|
2026
|
Baseline
|
%
|
%
|
%
|
%
|
%
|
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
|
|
|
|
|
|
|
Downside 2
|
|
|
|
|
|
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
|
|
|
|
|
|
|
Downside 1
|
|
|
|
|
|
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
|
|
|
|
|
|
|
Upside 2
|
|
|
|
|
|
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
|
|
|
|
|
|
|
Upside 1
|
|
|
|
|
|
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 31.12.23
|
|
|
|
|
|
Scenario probability weighting
|
13.8
|
24.7
|
32.7
|
18.3
|
10.8
|
As at 31.12.22
|
|
|
|
|
|
Scenario probability weighting
|
10.9
|
23.1
|
39.4
|
17.6
|
9.0
|
Macroeconomic variables (specific
bases)1
|
|||||
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
As at 31.12.23
|
%
|
%
|
%
|
%
|
%
|
UK
GDP2
|
13.4
|
9.6
|
1.1
|
(1.3)
|
(4.1)
|
UK
unemployment3
|
3.5
|
3.9
|
4.7
|
6.5
|
8.3
|
UK
HPI4
|
23.8
|
11.5
|
0.1
|
(22.5)
|
(35.0)
|
UK bank rate
|
2.5
|
3.0
|
4.2
|
6.8
|
8.5
|
US
GDP2
|
15.1
|
12.3
|
1.8
|
0.6
|
(1.7)
|
US
unemployment3
|
3.4
|
3.5
|
4.2
|
5.9
|
7.5
|
US
HPI4
|
27.4
|
23.5
|
3.7
|
0.4
|
(7.6)
|
US federal funds rate
|
2.8
|
3.3
|
4.3
|
6.8
|
8.5
|
As at 31.12.22
|
%
|
%
|
%
|
%
|
%
|
UK
GDP2
|
13.9
|
9.4
|
1.4
|
(3.2)
|
(6.8)
|
UK
unemployment3
|
3.4
|
3.6
|
4.2
|
6.6
|
8.5
|
UK
HPI4
|
37.8
|
21.0
|
1.2
|
(17.9)
|
(35.0)
|
UK bank rate
|
0.5
|
0.5
|
3.5
|
6.3
|
8.0
|
US
GDP2
|
14.1
|
9.6
|
1.3
|
(2.5)
|
(6.3)
|
US
unemployment3
|
3.3
|
3.6
|
4.4
|
6.7
|
8.6
|
US
HPI4
|
35.0
|
27.5
|
3.8
|
3.7
|
0.2
|
US federal funds rate
|
0.1
|
0.1
|
3.3
|
6.0
|
7.0
|
1
|
UK GDP = Real GDP growth seasonally adjusted; UK unemployment = UK
unemployment rate 16-year+; UK HI = Halifax All Houses, All Buyers
Index; US GDP = Real GDP growth seasonally adjusted; US
unemployment = US civilian unemployment rate 16-year+; US HPI =
FHFA House Price Index. 20 quarter period starts from Q123 (2022:
Q122).
|
2
|
Maximum growth relative to Q422 (2022: Q421), based on 20 quarter
period in Upside scenarios; 5-year yearly average CAGR in Baseline;
minimum growth relative to Q422 (2022: Q421), based on 20 quarter
period in Downside scenarios.
|
3
|
Lowest quarter in 20 quarter period in Upside scenarios; 5-year
average in Baseline; highest quarter 20 quarter period in Downside
scenarios.
|
4
|
Maximum growth relative to Q422 (2022: Q421), based on 20 quarter
period in Upside scenarios; 5-year quarter end CAGR in Baseline;
minimum growth relative to Q422 (2022: Q421), based on 20 quarter
period in Downside scenarios.
|
Macroeconomic variables (5-year
averages)1
|
|||||
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
As at 31.12.23
|
%
|
%
|
%
|
%
|
%
|
UK
GDP2
|
2.4
|
1.7
|
1.1
|
0.6
|
0.1
|
UK
unemployment3
|
3.7
|
4.2
|
4.7
|
5.2
|
5.8
|
UK
HPI4
|
4.4
|
2.2
|
0.1
|
(1.7)
|
(3.5)
|
UK bank rate
|
3.3
|
3.8
|
4.2
|
3.6
|
2.9
|
US
GDP2
|
2.8
|
2.3
|
1.8
|
1.4
|
0.9
|
US
unemployment3
|
3.6
|
3.9
|
4.2
|
4.8
|
5.4
|
US
HPI4
|
5.0
|
4.3
|
3.7
|
2.4
|
1.2
|
US federal funds rate
|
3.6
|
4.0
|
4.3
|
3.9
|
3.2
|
As at 31.12.22
|
%
|
%
|
%
|
%
|
%
|
UK
GDP2
|
3.0
|
2.2
|
1.4
|
0.7
|
—
|
UK
unemployment3
|
3.5
|
3.8
|
4.2
|
5.4
|
6.7
|
UK
HPI4
|
6.6
|
3.9
|
1.2
|
(2.6)
|
(6.4)
|
UK bank rate
|
2.5
|
2.9
|
3.5
|
4.7
|
5.8
|
US
GDP2
|
2.9
|
2.1
|
1.3
|
0.7
|
—
|
US
unemployment3
|
3.4
|
3.9
|
4.4
|
5.5
|
6.7
|
US
HPI4
|
6.2
|
5.0
|
3.8
|
2.5
|
1.2
|
US federal funds rate
|
2.8
|
3.1
|
3.3
|
4.3
|
5.2
|
1
|
UK GDP = Real GDP growth seasonally adjusted; UK unemployment = UK
unemployment rate 16-year+; UK HPI = Halifax All Houses, All Buyers
Index; US GDP = Real GDP growth seasonally adjusted; US
unemployment = US civilian unemployment rate 16-year+; US HPI =
FHFA House Price Index.
|
2
|
5-year yearly average CAGR, starting 2022 (2022:
2021).
|
3
|
5-year average. Period based on 20 quarters from Q123 (2022:
Q122).
|
4
|
5-year quarter end CAGR, starting Q422 (2022: Q421).
|
|
Scenarios
|
|||||
As at 31 December 2023
|
Weighted1
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
Stage 1 Model Exposure (£m)
|
|
|
|
|
|
|
Retail mortgages
|
145,226
|
147,415
|
146,653
|
145,405
|
142,543
|
138,925
|
Retail
credit cards2
|
66,512
|
66,459
|
66,482
|
66,497
|
66,580
|
66,580
|
Retail
other2
|
8,749
|
8,915
|
8,841
|
8,758
|
8,631
|
8,479
|
Corporate loans
|
175,282
|
179,567
|
177,923
|
175,903
|
172,328
|
167,541
|
Stage 1 Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
9
|
4
|
5
|
7
|
11
|
22
|
Retail
credit cards2
|
562
|
529
|
545
|
561
|
584
|
605
|
Retail
other2
|
32
|
31
|
32
|
32
|
32
|
31
|
Corporate loans
|
275
|
243
|
257
|
270
|
298
|
318
|
Stage 1 Coverage (%)
|
|
|
|
|
|
|
Retail mortgages
|
—
|
—
|
—
|
—
|
—
|
—
|
Retail credit cards
|
0.8
|
0.8
|
0.8
|
0.8
|
0.9
|
0.9
|
Retail other
|
0.4
|
0.3
|
0.4
|
0.4
|
0.4
|
0.4
|
Corporate loans
|
0.2
|
0.1
|
0.1
|
0.2
|
0.2
|
0.2
|
Stage 2 Model Exposure (£m)
|
|
|
|
|
|
|
Retail mortgages
|
20,615
|
17,769
|
18,702
|
20,149
|
23,836
|
28,822
|
Retail
credit cards2
|
7,076
|
6,897
|
6,976
|
7,064
|
7,183
|
7,387
|
Retail
other2
|
1,382
|
1,216
|
1,290
|
1,373
|
1,500
|
1,653
|
Corporate loans
|
24,374
|
19,919
|
21,621
|
23,763
|
27,445
|
32,375
|
Stage 2 Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
41
|
23
|
27
|
34
|
59
|
123
|
Retail
credit cards2
|
1,684
|
1,554
|
1,609
|
1,668
|
1,775
|
1,922
|
Retail
other2
|
85
|
72
|
78
|
84
|
95
|
105
|
Corporate loans
|
663
|
509
|
565
|
633
|
782
|
1,031
|
Stage 2 Coverage (%)
|
|
|
|
|
|
|
Retail mortgages
|
0.2
|
0.1
|
0.1
|
0.2
|
0.2
|
0.4
|
Retail credit cards
|
23.8
|
22.5
|
23.1
|
23.6
|
24.7
|
26.0
|
Retail other
|
6.2
|
5.9
|
6.0
|
6.1
|
6.3
|
6.4
|
Corporate loans
|
2.7
|
2.6
|
2.6
|
2.7
|
2.8
|
3.2
|
Stage 3 Model Exposure (£m)3
|
|
|
|
|
|
|
Retail mortgages
|
1,672
|
1,672
|
1,672
|
1,672
|
1,672
|
1,672
|
Retail
credit cards2
|
1,827
|
1,827
|
1,827
|
1,827
|
1,827
|
1,827
|
Retail
other2
|
164
|
164
|
164
|
164
|
164
|
164
|
Corporate loans
|
3,436
|
3,436
|
3,436
|
3,436
|
3,436
|
3,436
|
Stage 3 Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
333
|
308
|
316
|
325
|
351
|
393
|
Retail
credit cards2
|
1,315
|
1,279
|
1,296
|
1,313
|
1,341
|
1,366
|
Retail
other2
|
95
|
94
|
94
|
95
|
96
|
97
|
Corporate
loans4
|
77
|
71
|
73
|
75
|
82
|
89
|
Stage 3 Coverage (%)
|
|
|
|
|
|
|
Retail mortgages
|
19.9
|
18.4
|
18.9
|
19.4
|
21.0
|
23.5
|
Retail credit cards
|
72.0
|
70.0
|
70.9
|
71.9
|
73.4
|
74.8
|
Retail other
|
57.9
|
57.3
|
57.3
|
57.9
|
58.5
|
59.1
|
Corporate
loans4
|
2.2
|
2.1
|
2.1
|
2.2
|
2.4
|
2.6
|
Total Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
383
|
335
|
348
|
366
|
421
|
538
|
Retail
credit cards2
|
3,561
|
3,362
|
3,450
|
3,542
|
3,700
|
3,893
|
Retail
other2
|
212
|
197
|
204
|
211
|
223
|
233
|
Corporate
loans4
|
1,015
|
823
|
895
|
978
|
1,162
|
1,438
|
Total Model ECL
|
5,171
|
4,717
|
4,897
|
5,097
|
5,506
|
6,102
|
Reconciliation to total ECL
|
£m
|
Total weighted model ECL
|
5,171
|
ECL
from individually assessed exposures4
|
401
|
ECL from non-modelled exposures and others
|
276
|
ECL from debt securities at amortised cost
|
27
|
ECL from post model management adjustments
|
377
|
Of which: ECL from economic uncertainty adjustments
|
198
|
Total ECL
|
6,252
|
1
|
Model exposures are allocated to a stage based on an individual
scenario rather than a probability-weighted approach as required
for Barclays reported impairment allowances. As a result, it is not
possible to back solve the final reported weighted ECL from
individual scenarios given balances may be assigned to a different
stage dependent on the scenario.
|
2
|
Model exposures and ECL reported within Retail credit cards and
Retail other exclude the German consumer finance business portfolio
which has now been classified as assets held for sale.
|
3
|
Model exposures allocated to Stage 3 does not change in any of the
scenarios as the transition criteria relies only on an observable
evidence of default as at 31 December 2023 and not on macroeconomic
scenario.
|
4
|
Material corporate loan defaults are individually assessed across
different recovery strategies. As a result, ECL of £401m is
reported as an individually assessed impairment in the
reconciliation table.
|
|
Scenarios
|
|||||
As at 31 December 2022
|
Weighted1
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
Stage 1 Model Exposure (£m)
|
|
|
|
|
|
|
Retail mortgages
|
144,701
|
147,754
|
146,873
|
145,322
|
142,599
|
138,619
|
Retail credit cards
|
67,204
|
67,622
|
67,352
|
67,080
|
66,908
|
66,636
|
Retail other
|
12,282
|
12,428
|
12,341
|
12,235
|
12,111
|
11,986
|
Corporate loans
|
155,794
|
163,699
|
161,070
|
157,710
|
150,435
|
138,226
|
Stage 1 Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
7
|
3
|
3
|
4
|
9
|
30
|
Retail credit cards
|
509
|
493
|
503
|
512
|
517
|
521
|
Retail other
|
52
|
45
|
49
|
52
|
54
|
55
|
Corporate loans
|
341
|
259
|
290
|
325
|
397
|
443
|
Stage 1 Coverage (%)
|
|
|
|
|
|
|
Retail mortgages
|
—
|
—
|
—
|
—
|
—
|
—
|
Retail credit cards
|
0.8
|
0.7
|
0.7
|
0.8
|
0.8
|
0.8
|
Retail other
|
0.4
|
0.4
|
0.4
|
0.4
|
0.4
|
0.5
|
Corporate loans
|
0.2
|
0.2
|
0.2
|
0.2
|
0.3
|
0.3
|
Stage 2 Model Exposure (£m)
|
|
|
|
|
|
|
Retail mortgages
|
18,723
|
15,670
|
16,551
|
18,102
|
20,825
|
24,805
|
Retail credit cards
|
7,611
|
6,551
|
7,118
|
7,691
|
8,313
|
9,062
|
Retail other
|
1,559
|
1,386
|
1,485
|
1,601
|
1,741
|
1,881
|
Corporate loans
|
24,935
|
16,858
|
19,550
|
23,031
|
30,432
|
42,837
|
Stage 2 Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
33
|
15
|
18
|
23
|
45
|
151
|
Retail credit cards
|
1,624
|
1,361
|
1,487
|
1,624
|
1,811
|
2,032
|
Retail other
|
124
|
96
|
109
|
124
|
144
|
160
|
Corporate loans
|
610
|
399
|
470
|
569
|
816
|
1,303
|
Stage 2 Coverage (%)
|
|
|
|
|
|
|
Retail mortgages
|
0.2
|
0.1
|
0.1
|
0.1
|
0.2
|
0.6
|
Retail credit cards
|
21.3
|
20.8
|
20.9
|
21.1
|
21.8
|
22.4
|
Retail other
|
8.0
|
6.9
|
7.3
|
7.7
|
8.3
|
8.5
|
Corporate loans
|
2.4
|
2.4
|
2.4
|
2.5
|
2.7
|
3.0
|
Stage 3 Model Exposure (£m)2
|
|
|
|
|
|
|
Retail mortgages
|
1,553
|
1,553
|
1,553
|
1,553
|
1,553
|
1,553
|
Retail credit cards
|
1,354
|
1,354
|
1,354
|
1,354
|
1,354
|
1,354
|
Retail other
|
216
|
216
|
216
|
216
|
216
|
216
|
Corporate loans
|
2,891
|
2,891
|
2,891
|
2,891
|
2,891
|
2,891
|
Stage 3 Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
332
|
311
|
317
|
323
|
347
|
405
|
Retail credit cards
|
880
|
861
|
871
|
881
|
893
|
902
|
Retail other
|
132
|
129
|
131
|
132
|
134
|
136
|
Corporate
loans3
|
70
|
66
|
68
|
70
|
78
|
85
|
Stage 3 Coverage (%)
|
|
|
|
|
|
|
Retail mortgages
|
21.4
|
20.0
|
20.4
|
20.8
|
22.3
|
26.1
|
Retail credit cards
|
65.0
|
63.6
|
64.3
|
65.1
|
66.0
|
66.6
|
Retail other
|
61.1
|
59.7
|
60.6
|
61.1
|
62.0
|
63.0
|
Corporate
loans3
|
2.4
|
2.3
|
2.4
|
2.4
|
2.7
|
2.9
|
Total Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
372
|
329
|
338
|
350
|
401
|
586
|
Retail credit cards
|
3,013
|
2,715
|
2,861
|
3,017
|
3,221
|
3,455
|
Retail other
|
308
|
270
|
289
|
308
|
332
|
351
|
Corporate
loans3
|
1,021
|
724
|
828
|
964
|
1,291
|
1,831
|
Total Model ECL
|
4,714
|
4,038
|
4,316
|
4,639
|
5,245
|
6,223
|
Reconciliation to total ECL
|
£m
|
Total weighted model ECL
|
4,714
|
ECL
from individually assessed exposures3
|
434
|
ECL from non-modelled exposures and others
|
460
|
ECL from debt securities at amortised cost
|
42
|
ECL from post model management adjustments
|
525
|
Of which: ECL from economic uncertainty adjustments
|
317
|
Total ECL
|
6,175
|
1
|
Model exposures are allocated to a stage based on an individual
scenario rather than a probability-weighted approach, as required
for Barclays reported impairment allowances. As a result, it is not
possible to back solve the final reported weighted ECL from
individual scenarios given balances may be assigned to a different
stage dependent on the scenario.
|
2
|
Model exposures allocated to Stage 3 does not change in any of the
scenarios as the transition criteria relies only on an observable
evidence of default as at 31 December 2022 and not on macroeconomic
scenario.
|
3
|
Material corporate loan defaults are individually assessed across
different recovery strategies. As a result, ECL of £434m is
reported as an individually assessed impairment in the
reconciliation table.
|
|
Barclays UK
|
|
Home loans principal portfolios
|
As at 31.12.23
|
As at 31.12.22
|
Gross loans and advances (£m)
|
163,639
|
162,380
|
90 day arrears rate, excluding recovery book (%)
|
0.2
|
0.1
|
Annualised gross charge-off rates - 180 days past due
(%)
|
0.5
|
0.5
|
Recovery book proportion of outstanding balances (%)
|
0.6
|
0.5
|
Recovery
book impairment coverage ratio (%)1
|
7.2
|
5.2
|
|
|
|
Average marked to market LTV
|
|
|
Balance weighted %
|
53.6
|
50.4
|
Valuation weighted %
|
40.0
|
37.3
|
|
|
|
New lending
|
Year ended 31.12.23
|
Year ended 31.12.22
|
New home loan bookings (£m)
|
22,669
|
30,307
|
New home loan proportion > 90% LTV (%)
|
0.6
|
2.8
|
Average LTV on new home loans: balance weighted (%)
|
62.6
|
68.1
|
Average LTV on new home loans: valuation weighted (%)
|
53.8
|
59.6
|
1
|
Recovery Book Impairment Coverage Ratio excludes KMC.
|
|
Distribution of balances
|
Distribution of impairment allowance
|
Coverage ratio
|
||||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
|
Barclays UK
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
|
As at 31.12.23
|
|
|
|
|
|
|
|
|
|
|
|
|
|
<=75%
|
73.5
|
10.4
|
0.9
|
84.8
|
8.5
|
16.2
|
26.7
|
51.4
|
—
|
0.2
|
3.8
|
0.1
|
|
>75% and <=90%
|
12.3
|
1.2
|
0.1
|
13.6
|
7.4
|
16.7
|
12.8
|
36.9
|
0.1
|
1.9
|
27.9
|
0.4
|
|
>90% and <=100%
|
1.5
|
0.1
|
—
|
1.6
|
1.2
|
2.5
|
3.6
|
7.3
|
0.1
|
2.6
|
63.3
|
0.6
|
|
>100%
|
—
|
—
|
—
|
—
|
0.3
|
0.7
|
3.4
|
4.4
|
1.0
|
12.1
|
100.0
|
12.4
|
|
As at 31.12.22
|
|
|
|
|
|
|
|
|
|
|
|
|
|
<=75%
|
78.8
|
10.5
|
0.8
|
90.1
|
10.2
|
30.8
|
33.2
|
74.2
|
—
|
0.2
|
2.9
|
0.1
|
|
>75% and <=90%
|
8.8
|
0.5
|
—
|
9.3
|
3.9
|
9.7
|
5.2
|
18.8
|
—
|
1.4
|
30.8
|
0.1
|
|
>90% and <=100%
|
0.6
|
—
|
—
|
0.6
|
0.3
|
0.3
|
2.4
|
3.0
|
—
|
1.5
|
85.0
|
0.4
|
|
>100%
|
—
|
—
|
—
|
—
|
0.1
|
0.6
|
3.3
|
4.0
|
0.4
|
21.4
|
64.9
|
13.1
|
1
|
Portfolio marked to market based on the most updated valuation
including recovery book balances. Updated valuations reflect the
application of the latest HPI available as at 31 December
2023.
|
Principal portfolios
|
Gross exposure
|
30 day arrears rate, excluding recovery book
|
90 day arrears rate, excluding recovery book
|
Annualised gross write-off rate
|
Annualised net write-off rate
|
As at 31.12.23
|
£m
|
%
|
%
|
%
|
%
|
Barclays UK
|
|
|
|
|
|
UK cards
|
10,420
|
0.9
|
0.2
|
1.4
|
1.3
|
UK personal loans
|
3,641
|
1.5
|
0.6
|
1.3
|
1.0
|
Barclays Partner Finance
|
2,344
|
0.6
|
0.3
|
0.7
|
0.7
|
Barclays International
|
|
|
|
|
|
US cards
|
27,286
|
2.9
|
1.5
|
2.3
|
2.3
|
|
|
|
|
|
|
As at 31.12.22
|
|
|
|
|
|
Barclays UK
|
|
|
|
|
|
UK cards
|
9,939
|
0.9
|
0.2
|
3.7
|
3.6
|
UK personal loans
|
4,023
|
1.4
|
0.6
|
4.1
|
3.8
|
Barclays Partner Finance
|
2,612
|
0.5
|
0.2
|
0.7
|
0.7
|
Barclays International
|
|
|
|
|
|
US cards
|
25,554
|
2.2
|
1.2
|
2.4
|
2.3
|
German
consumer finance business
|
4,269
|
1.7
|
0.7
|
0.7
|
0.6
|
Retail Credit Cards and Retail Other held for sale
|
Gross exposure
|
30 day arrears rate, excluding recovery book
|
90 day arrears rate, excluding recovery book
|
Annualised gross write-off rate
|
Annualised net write-off rate
|
As at 31.12.23
|
£m
|
%
|
%
|
%
|
%
|
Barclays International
|
|
|
|
|
|
German
consumer finance business
|
4,094
|
1.7
|
0.8
|
1.0
|
1.0
|
|
Year ended 31.12.23
|
|
Year ended 31.12.22
|
||||
|
Average
|
High
|
Low
|
|
Average
|
High
|
Low
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Credit risk
|
40
|
57
|
22
|
|
25
|
71
|
8
|
Interest rate risk
|
15
|
25
|
9
|
|
13
|
23
|
4
|
Equity risk
|
6
|
10
|
3
|
|
10
|
29
|
4
|
Basis risk
|
13
|
25
|
8
|
|
12
|
24
|
4
|
Spread risk
|
9
|
14
|
5
|
|
7
|
11
|
3
|
Foreign exchange risk
|
4
|
9
|
1
|
|
8
|
25
|
2
|
Commodity risk
|
—
|
1
|
—
|
|
—
|
1
|
—
|
Inflation risk
|
6
|
11
|
2
|
|
6
|
17
|
3
|
Diversification
effect1
|
(51)
|
|
|
|
(45)
|
|
|
Total management VaR
|
42
|
60
|
24
|
|
36
|
73
|
13
|
1
|
Diversification effects recognise that forecast losses from
different assets or businesses are unlikely to occur concurrently,
hence the expected aggregate loss is lower than the sum of the
expected losses from each area. Historical correlations between
losses are taken into account in making these assessments. The high
and low VaR figures reported for each category did not necessarily
occur on the same day as the high and low VaR reported as a whole.
Consequently, a diversification effect balance for the high and low
VaR figures would not be meaningful and is therefore omitted from
the above table.
|
Liquidity coverage
ratio1
|
As at 31.12.23
|
As at 31.12.22
|
|
£bn
|
£bn
|
LCR Eligible High Quality Liquid Assets (HQLA)
|
310
|
320
|
Net stress outflows
|
192
|
206
|
Surplus
|
118
|
114
|
|
|
|
Liquidity coverage ratio
|
161%
|
156%
|
1
|
Liquidity Coverage Ratio is now shown on an average basis, based on
the average of the last 12 spot month end ratios. The HQLA, Net
Stress outflow, and Surplus balances in the table above are average
month end balances for the past 12 months. Prior period HQLA, Net
Stress Outflows, Surplus & LCR comparatives have been updated
for consistency.
|
Net Stable Funding
Ratio1
|
As at 31.12.23
|
As at 31.12.22
|
|
£bn
|
£bn
|
Total Available Stable Funding
|
607
|
576
|
Total Required Stable Funding
|
440
|
421
|
Surplus
|
167
|
155
|
|
|
|
Net Stable Funding Ratio
|
138%
|
137%
|
1
|
Represents average of the last four spot quarter end
ratios.
|
Composition of the Group liquidity pool
|
|
|
|
|
|
|
|
|
|
LCR eligible1
High Quality Liquid Assets
(HQLA)
|
|
Liquidity pool
|
|||||
|
Cash
|
Level 1
|
Level 2A
|
Level 2B
|
Total
|
|
2023
|
2022
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Cash and deposits with central banks2
|
211
|
—
|
—
|
—
|
211
|
|
232
|
263
|
|
|
|
|
|
|
|
|
|
Government bonds3
|
|
|
|
|
|
|
|
|
AAA to AA-
|
—
|
40
|
5
|
—
|
45
|
|
48
|
39
|
A+ to A-
|
—
|
1
|
1
|
—
|
2
|
|
1
|
3
|
BBB+ to BBB-
|
—
|
1
|
—
|
—
|
1
|
|
1
|
—
|
Total government bonds
|
—
|
42
|
6
|
—
|
48
|
|
50
|
42
|
|
|
|
|
|
|
|
|
|
Other
|
|
|
|
|
|
|
|
|
Government Guaranteed Issuers, PSEs and GSEs
|
—
|
4
|
—
|
—
|
4
|
|
5
|
6
|
International Organisations and MDBs
|
—
|
3
|
—
|
—
|
3
|
|
3
|
2
|
Covered bonds
|
—
|
3
|
3
|
—
|
6
|
|
7
|
5
|
Other
|
—
|
—
|
—
|
2
|
2
|
|
1
|
—
|
Total other
|
—
|
10
|
3
|
2
|
15
|
|
16
|
13
|
|
|
|
|
|
|
|
|
|
Total as at 31 December 2023
|
211
|
52
|
9
|
2
|
274
|
|
298
|
|
Total as at 31 December 2022
|
248
|
31
|
15
|
1
|
295
|
|
|
318
|
1
|
The LCR eligible HQLA is adjusted for operational restrictions upon
consolidation under Article 8 of the Liquidity Coverage Ratio
section of the PRA rulebook (CRR) such as trapped liquidity within
Barclays subsidiaries. It also reflects differences in eligibility
of assets between the LCR and Barclays’ Liquidity
Pool.
|
2
|
Includes cash held at central banks and surplus cash at central
banks related to payment schemes. Over 99% (December 2022: over
99%) was placed with the Bank of England, US Federal Reserve,
European Central Bank, Bank of Japan and Swiss National
Bank.
|
3
|
Of which over 80% (December 2022: over 79%) comprised UK, US,
French, German, Japanese, Swiss and Dutch securities.
|
|
As at 31.12.23
|
|
As at 31.12.22
|
||
|
Loans and advances, debt securities at amortised cost
|
Deposits at amortised cost
|
Loan: deposit ratio1
|
|
Loan: deposit ratio1
|
Funding of loans and advances
|
£bn
|
£bn
|
%
|
|
%
|
Barclays UK
|
221
|
241
|
92
|
|
87
|
Barclays International
|
174
|
298
|
58
|
|
59
|
Head Office
|
4
|
|
|
|
|
Barclays Group
|
399
|
539
|
74
|
|
73
|
1
|
The loan: deposit ratio is calculated as loans and advances at
amortised cost and debt securities at amortised cost divided by
deposits at amortised cost.
|
|
As at 31.12.23
|
As at 31.12.22
|
|
|
As at 31.12.23
|
As at 31.12.22
|
Assets
|
£bn
|
£bn
|
|
Liabilities and equity
|
£bn
|
£bn
|
Loans
and advances at amortised cost1
|
386
|
385
|
|
Deposits at amortised cost
|
539
|
546
|
Group liquidity pool
|
298
|
318
|
|
<1 Year wholesale funding
|
59
|
73
|
|
|
|
|
>1 Year wholesale funding
|
118
|
111
|
Reverse repurchase agreements, trading portfolio assets, cash
collateral and settlement balances
|
435
|
412
|
|
Repurchase agreements, trading portfolio liabilities, cash
collateral and settlement balances
|
380
|
370
|
Derivative financial instruments
|
257
|
302
|
|
Derivative financial instruments
|
250
|
290
|
Other
assets2
|
101
|
97
|
|
Other liabilities
|
59
|
55
|
|
|
|
|
Equity
|
72
|
69
|
Total assets
|
1,477
|
1,514
|
|
Total liabilities and equity
|
1,477
|
1,514
|
1
|
Adjusted for liquidity pool debt securities reported at amortised
cost of £18bn (December 2022: £14bn).
|
2
|
Other assets include fair value assets that are not part of reverse
repurchase agreements or trading portfolio assets, and other asset
categories.
|
|
<1
|
1-3
|
3-6
|
6-12
|
<1
|
1-2
|
2-3
|
3-4
|
4-5
|
>5
|
|
|
month
|
months
|
months
|
months
|
year
|
years
|
years
|
years
|
years
|
years
|
Total
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Barclays PLC (the Parent company)
|
|
|
|
|
|
|
|
|
|
|
|
Senior unsecured (public benchmark)
|
1.2
|
—
|
0.3
|
—
|
1.5
|
5.5
|
9.7
|
5.9
|
4.7
|
20.0
|
47.3
|
Senior unsecured (privately placed)
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
1.0
|
1.0
|
Subordinated liabilities
|
—
|
—
|
—
|
0.4
|
0.4
|
—
|
1.5
|
—
|
1.5
|
5.8
|
9.2
|
Barclays Bank PLC (including subsidiaries)
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit and commercial paper
|
0.6
|
9.7
|
8.6
|
7.5
|
26.4
|
1.3
|
—
|
—
|
—
|
—
|
27.7
|
Asset backed commercial paper
|
2.4
|
8.2
|
1.0
|
—
|
11.6
|
—
|
—
|
—
|
—
|
—
|
11.6
|
Senior unsecured (public benchmark)
|
—
|
—
|
1.0
|
—
|
1.0
|
—
|
—
|
—
|
—
|
—
|
1.0
|
Senior
unsecured (privately placed)3
|
1.4
|
1.6
|
2.9
|
8.5
|
14.4
|
12.1
|
8.4
|
5.2
|
7.0
|
21.1
|
68.2
|
Asset backed securities
|
—
|
—
|
0.1
|
1.0
|
1.1
|
1.2
|
0.5
|
—
|
0.1
|
3.1
|
6.0
|
Subordinated liabilities
|
—
|
0.1
|
—
|
0.2
|
0.3
|
0.2
|
0.3
|
0.1
|
—
|
0.4
|
1.3
|
Barclays Bank UK PLC (including subsidiaries)
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit and commercial paper
|
1.9
|
—
|
—
|
—
|
1.9
|
—
|
—
|
—
|
—
|
—
|
1.9
|
Senior unsecured (public benchmark)
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
0.2
|
0.2
|
Covered bonds
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
0.5
|
0.2
|
0.7
|
1.4
|
Total as at 31 December 2023
|
7.5
|
19.6
|
13.9
|
17.6
|
58.6
|
20.3
|
20.4
|
11.7
|
13.5
|
52.3
|
176.8
|
Of which secured
|
2.4
|
8.2
|
1.1
|
1.0
|
12.7
|
1.2
|
0.5
|
0.5
|
0.3
|
3.8
|
19.0
|
Of which unsecured
|
5.1
|
11.4
|
12.8
|
16.6
|
45.9
|
19.1
|
19.9
|
11.2
|
13.2
|
48.5
|
157.8
|
|
|
|
|
|
|
|
|
|
|
|
|
Total as at 31 December 2022
|
11.1
|
26.5
|
16.4
|
18.5
|
72.5
|
22.4
|
16.9
|
14.5
|
9.7
|
48.0
|
184.0
|
Of which secured
|
4.9
|
6.7
|
1.3
|
0.2
|
13.1
|
1.8
|
0.7
|
0.5
|
1.0
|
2.1
|
19.2
|
Of which unsecured
|
6.2
|
19.8
|
15.1
|
18.3
|
59.4
|
20.6
|
16.2
|
14.0
|
8.7
|
45.9
|
164.8
|
1
|
The composition of wholesale funds comprises the balance sheet
reported financial liabilities at fair value, debt securities in
issue and subordinated liabilities. It does not include
participation in the central bank facilities reported within
repurchase agreements and other similar secured
borrowing.
|
2
|
Term funding comprises public benchmark and privately placed senior
unsecured notes, covered bonds, asset-backed securities and
subordinated debt where the original maturity of the instrument is
more than 1 year.
|
3
|
Includes structured notes of £54.7bn, of which £11.5bn
matures within one year.
|
Capital ratios1,2
|
As at 31.12.23
|
As at 30.09.23
|
As at 31.12.22
|
CET1
|
13.8%
|
14.0%
|
13.9%
|
T1
|
17.7%
|
17.5%
|
17.9%
|
Total regulatory capital
|
20.1%
|
20.0%
|
20.8%
|
MREL ratio as a percentage of total RWAs
|
33.6%
|
33.4%
|
33.5%
|
|
|
|
|
Own funds and eligible liabilities
|
£m
|
£m
|
£m
|
Total equity excluding non-controlling interests per the balance
sheet
|
71,204
|
68,315
|
68,292
|
Less: other equity instruments (recognised as AT1
capital)
|
(13,259)
|
(11,857)
|
(13,284)
|
Adjustment to retained earnings for foreseeable ordinary share
dividends
|
(795)
|
(497)
|
(787)
|
Adjustment to retained earnings for foreseeable repurchase of
shares
|
—
|
(223)
|
—
|
Adjustment to retained earnings for foreseeable other equity
coupons
|
(43)
|
(45)
|
(37)
|
|
|
|
|
Other regulatory adjustments and deductions
|
|
|
|
Additional value adjustments (PVA)
|
(1,901)
|
(1,630)
|
(1,726)
|
Goodwill and intangible assets
|
(7,790)
|
(8,243)
|
(8,224)
|
Deferred tax assets that rely on future profitability excluding
temporary differences
|
(1,630)
|
(1,480)
|
(1,500)
|
Fair value reserves related to gains or losses on cash flow
hedges
|
3,707
|
6,421
|
7,237
|
Excess of expected losses over impairment
|
(296)
|
(292)
|
(119)
|
Gains or losses on liabilities at fair value resulting from own
credit
|
136
|
(142)
|
(620)
|
Defined benefit pension fund assets
|
(2,654)
|
(2,960)
|
(3,430)
|
Direct and indirect holdings by an institution of own CET1
instruments
|
(20)
|
(20)
|
(20)
|
Adjustment under IFRS 9 transitional arrangements
|
288
|
290
|
700
|
Other regulatory adjustments
|
357
|
321
|
396
|
CET1 capital
|
47,304
|
47,958
|
46,878
|
|
|
|
|
AT1 capital
|
|
|
|
Capital instruments and related share premium accounts
|
13,263
|
11,857
|
13,284
|
Other regulatory adjustments and deductions
|
(60)
|
(60)
|
(60)
|
AT1 capital
|
13,203
|
11,797
|
13,224
|
|
|
|
|
T1 capital
|
60,507
|
59,755
|
60,102
|
|
|
|
|
T2 capital
|
|
|
|
Capital instruments and related share premium accounts
|
7,966
|
8,126
|
9,000
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries
|
569
|
757
|
1,095
|
Credit risk adjustments (excess of impairment over expected
losses)
|
—
|
58
|
35
|
Other regulatory adjustments and deductions
|
(160)
|
(160)
|
(160)
|
Total regulatory capital
|
68,882
|
68,536
|
70,072
|
|
|
|
|
Less : Ineligible T2 capital (including minority interests) issued
by subsidiaries
|
(569)
|
(757)
|
(1,095)
|
Eligible liabilities
|
46,995
|
46,477
|
43,851
|
|
|
|
|
Total own funds and eligible liabilities3
|
115,308
|
114,256
|
112,828
|
|
|
|
|
Total RWAs
|
342,717
|
341,868
|
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 13.7%,
with £47.0bn of CET1 capital and £342.7bn of RWAs
calculated without applying the transitional arrangements of the
CRR as amended by CRR II.
|
3
|
As at 31 December 2023, the Group's MREL requirement, excluding the
PRA buffer, was to hold £103.0bn of own funds and eligible
liabilities equating to 30.1% of RWAs. The Group remains above its
MREL regulatory requirement including the PRA buffer.
|
|
Movement in CET1 capital
|
Three months ended 31.12.23
|
Twelve months ended 31.12.23
|
|
£m
|
£m
|
|
|
Opening CET1 capital
|
47,958
|
46,878
|
|
|
|
|
|
Profit for the period attributable to equity holders
|
108
|
5,259
|
|
Own credit relating to derivative liabilities
|
41
|
49
|
|
Ordinary share dividends paid and foreseen
|
(298)
|
(1,218)
|
|
Purchased and foreseeable share repurchase
|
—
|
(1,250)
|
|
Other equity coupons paid and foreseen
|
(217)
|
(991)
|
|
(Decrease)/increase in retained regulatory capital generated from
earnings
|
(366)
|
1,849
|
|
|
|
|
|
Net impact of share schemes
|
140
|
104
|
|
Fair value through other comprehensive income reserve
|
276
|
194
|
|
Currency translation reserve
|
(738)
|
(1,101)
|
|
Other reserves
|
(6)
|
(42)
|
|
Decrease in other qualifying reserves
|
(328)
|
(845)
|
|
|
|
|
|
Pension remeasurements within reserves
|
(328)
|
(855)
|
|
Defined benefit pension fund asset deduction
|
306
|
776
|
|
Net impact of pensions
|
(22)
|
(79)
|
|
|
|
|
|
Additional value adjustments (PVA)
|
(271)
|
(175)
|
|
Goodwill and intangible assets
|
453
|
434
|
|
Deferred tax assets that rely on future profitability excluding
those arising from temporary differences
|
(150)
|
(130)
|
|
Excess of expected loss over impairment
|
(4)
|
(177)
|
|
Adjustment under IFRS 9 transitional arrangements
|
(2)
|
(412)
|
|
Other regulatory adjustments
|
36
|
(39)
|
|
Increase/(decrease) in regulatory capital due to adjustments and
deductions
|
62
|
(499)
|
|
|
|
|
|
Closing CET1 capital
|
47,304
|
47,304
|
RWAs by risk type and business
|
|||||||||||||
|
Credit risk1
|
|
Counterparty credit risk
|
|
Market Risk
|
|
Operational risk
|
Total RWAs
|
|||||
|
STD
|
IRB
|
|
STD
|
IRB
|
Settlement Risk
|
CVA
|
|
STD
|
IMA
|
|
|
|
As at 31.12.23
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
Barclays UK
|
10,472
|
50,761
|
|
178
|
—
|
—
|
94
|
|
274
|
—
|
|
11,715
|
73,494
|
Corporate and Investment Bank
|
40,315
|
65,499
|
|
18,775
|
22,033
|
159
|
3,260
|
|
14,625
|
25,222
|
|
26,887
|
216,775
|
Consumer, Cards and Payments
|
28,218
|
5,515
|
|
182
|
55
|
—
|
38
|
|
2
|
638
|
|
7,631
|
42,279
|
Barclays International
|
68,533
|
71,014
|
|
18,957
|
22,088
|
159
|
3,298
|
|
14,627
|
25,860
|
|
34,518
|
259,054
|
Head Office
|
3,881
|
6,963
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
|
(675)
|
10,169
|
Barclays Group
|
82,886
|
128,738
|
|
19,135
|
22,088
|
159
|
3,392
|
|
14,901
|
25,860
|
|
45,558
|
342,717
|
As at 30.09.231
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
11,731
|
49,928
|
|
160
|
—
|
—
|
90
|
|
215
|
—
|
|
11,054
|
73,178
|
Corporate and Investment Bank
|
38,869
|
69,467
|
|
17,983
|
21,784
|
123
|
3,108
|
|
17,542
|
23,253
|
|
27,093
|
219,222
|
Consumer, Cards and Payments
|
28,613
|
3,987
|
|
191
|
51
|
—
|
42
|
|
2
|
535
|
|
6,527
|
39,948
|
Barclays International
|
67,482
|
73,454
|
|
18,174
|
21,835
|
123
|
3,150
|
|
17,544
|
23,788
|
|
33,620
|
259,170
|
Head Office
|
4,116
|
6,213
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
|
(809)
|
9,520
|
Barclays Group
|
83,329
|
129,595
|
|
18,334
|
21,835
|
123
|
3,240
|
|
17,759
|
23,788
|
|
43,865
|
341,868
|
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
|
1
|
From Q323 credit risk RWAs of £9.8bn relating to deferred tax
assets, have been reclassified from IRB to STD with no impact to
total RWAs.
|
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
|
(1,338)
|
2,122
|
3,325
|
1,743
|
5,852
|
Acquisitions and disposals
|
688
|
—
|
—
|
—
|
688
|
Book quality
|
1,512
|
(136)
|
—
|
—
|
1,376
|
Model updates
|
(2,600)
|
—
|
1,200
|
—
|
(1,400)
|
Methodology and policy
|
5,175
|
2,700
|
—
|
—
|
7,875
|
Foreign
exchange movements1
|
(5,686)
|
(1,908)
|
(598)
|
—
|
(8,192)
|
Total RWA movements
|
(2,249)
|
2,778
|
3,927
|
1,743
|
6,199
|
Closing RWAs (as at 31.12.23)
|
211,624
|
44,774
|
40,761
|
45,558
|
342,717
|
1
|
Foreign exchange movements does not include the impact of foreign
exchange for modelled market risk or operational risk
|
Leverage ratios1,2
|
As at 31.12.23
|
As at 30.09.23
|
As at 31.12.22
|
£m
|
£m
|
£m
|
|
UK
leverage ratio3
|
5.2%
|
5.0%
|
5.3%
|
T1 capital
|
60,507
|
59,755
|
60,102
|
UK leverage exposure
|
1,168,275
|
1,202,417
|
1,129,973
|
Average UK leverage ratio
|
4.8%
|
4.6%
|
4.8%
|
Average T1 capital
|
60,343
|
58,661
|
60,865
|
Average UK leverage exposure
|
1,266,880
|
1,262,290
|
1,280,972
|
1
|
Capital and leverage measures are calculated applying the
transitional arrangements of the CRR as amended by CRR
II.
|
2
|
Fully loaded UK leverage ratio was 5.2%, with £60.2bn of T1 capital and £1,168.0bn of leverage exposure. Fully
loaded average UK leverage ratio was 4.7% with £60.0bn of T1 capital and £1,266.6bn of leverage exposure. Fully
loaded UK leverage ratios are calculated without applying the
transitional arrangements of the CRR as amended by CRR
II.
|
3
|
Although the leverage ratio is expressed in terms of T1 capital,
the leverage ratio buffers and 75% of the minimum requirement must
be covered solely with CET1 capital. The CET1 capital held against
the 0.53% G-SII ALRB was
£6.1bn and against the
0.3% CCLB was
£3.5bn.
|
Condensed consolidated income statement
|
||
|
Year ended 31.12.23
|
Year ended 31.12.22
|
|
£m
|
£m
|
Interest and similar income
|
35,075
|
19,096
|
Interest and similar expense
|
(22,366)
|
(8,524)
|
Net interest income
|
12,709
|
10,572
|
Fee and commission income
|
10,121
|
9,637
|
Fee and commission expense
|
(3,592)
|
(3,038)
|
Net fee and commission income
|
6,529
|
6,599
|
Net trading income
|
5,945
|
8,049
|
Net investment income
|
61
|
(434)
|
Other income
|
134
|
170
|
Total income
|
25,378
|
24,956
|
|
|
|
Staff costs
|
(10,017)
|
(9,252)
|
Infrastructure, administration and general expenses
|
(6,877)
|
(5,881)
|
Litigation and conduct
|
(37)
|
(1,597)
|
Operating expenses
|
(16,931)
|
(16,730)
|
|
|
|
Share of post-tax results of associates and joint
ventures
|
(9)
|
6
|
Profit before impairment
|
8,438
|
8,232
|
Credit impairment charges
|
(1,881)
|
(1,220)
|
Profit before tax
|
6,557
|
7,012
|
Tax charge
|
(1,234)
|
(1,039)
|
Profit after tax
|
5,323
|
5,973
|
|
|
|
Attributable to:
|
|
|
Equity holders of the parent
|
4,274
|
5,023
|
Other equity instrument holders
|
985
|
905
|
Total equity holders of the parent
|
5,259
|
5,928
|
Non-controlling interests
|
64
|
45
|
Profit after tax
|
5,323
|
5,973
|
|
|
|
Earnings per share
|
|
|
Basic earnings per ordinary share
|
27.7p
|
30.8p
|
Diluted earnings per ordinary share
|
26.9p
|
29.8p
|
Condensed consolidated statement of comprehensive
income
|
||
|
Year ended 31.12.23
|
Year ended 31.12.22
|
|
£m
|
£m
|
Profit after tax
|
5,323
|
5,973
|
|
|
|
Other comprehensive income/(loss) that may be recycled to profit or
loss:1
|
|
|
Currency translation reserve
|
(1,101)
|
2,032
|
Fair value through other comprehensive income reserve
|
197
|
(1,421)
|
Cash flow hedging reserve
|
3,528
|
(6,382)
|
Other comprehensive income/(loss) that may be recycled to
profit
|
2,624
|
(5,771)
|
|
|
|
Other comprehensive (loss)/income not recycled to profit or
loss:1
|
|
|
Retirement benefit remeasurements
|
(855)
|
(281)
|
Fair value through other comprehensive income reserve
|
(3)
|
228
|
Own credit
|
(710)
|
1,463
|
Other comprehensive (loss)/income not recycled to
profit
|
(1,568)
|
1,410
|
|
|
|
Other comprehensive income/(loss) for the period
|
1,056
|
(4,361)
|
|
|
|
Total comprehensive income for the period
|
6,379
|
1,612
|
|
|
|
Attributable to:
|
|
|
Equity holders of the parent
|
6,315
|
1,567
|
Non-controlling interests
|
64
|
45
|
Total comprehensive income for the period
|
6,379
|
1,612
|
1
|
Reported net of tax.
|
Condensed consolidated balance sheet
|
||
|
As at 31.12.23
|
As at 31.12.22
|
Assets
|
£m
|
£m
|
Cash and balances at central banks
|
224,634
|
256,351
|
Cash collateral and settlement balances
|
108,889
|
112,597
|
Debt securities at amortised cost
|
56,749
|
45,487
|
Loans and advances at amortised cost to banks
|
9,459
|
10,015
|
Loans and advances at amortised cost to customers
|
333,288
|
343,277
|
Reverse repurchase agreements and other similar secured lending at
amortised cost
|
2,594
|
776
|
Trading portfolio assets
|
174,605
|
133,813
|
Financial assets at fair value through the income
statement
|
206,651
|
213,568
|
Derivative financial instruments
|
256,836
|
302,380
|
Financial assets at fair value through other comprehensive
income
|
71,836
|
65,062
|
Investments in associates and joint ventures
|
879
|
922
|
Goodwill and intangible assets
|
7,794
|
8,239
|
Property, plant and equipment
|
3,417
|
3,616
|
Current tax assets
|
121
|
385
|
Deferred tax assets
|
5,960
|
6,991
|
Retirement benefit assets
|
3,667
|
4,743
|
Assets included in a disposal group classified as held for
sale
|
3,916
|
—
|
Other assets
|
6,192
|
5,477
|
Total assets
|
1,477,487
|
1,513,699
|
|
|
|
Liabilities
|
|
|
Deposits at amortised cost from banks
|
14,472
|
19,979
|
Deposits at amortised cost from customers
|
524,317
|
525,803
|
Cash collateral and settlement balances
|
94,084
|
96,927
|
Repurchase agreements and other similar secured borrowings at
amortised cost
|
41,601
|
27,052
|
Debt securities in issue
|
96,825
|
112,881
|
Subordinated liabilities
|
10,494
|
11,423
|
Trading portfolio liabilities
|
58,669
|
72,924
|
Financial liabilities designated at fair value
|
297,539
|
271,637
|
Derivative financial instruments
|
250,044
|
289,620
|
Current tax liabilities
|
529
|
580
|
Deferred tax liabilities
|
22
|
16
|
Retirement benefit liabilities
|
266
|
264
|
Provisions
|
1,584
|
1,544
|
Liabilities included in a disposal group classified as held for
sale
|
3,164
|
—
|
Other liabilities
|
12,013
|
13,789
|
Total liabilities
|
1,405,623
|
1,444,439
|
|
|
|
Equity
|
|
|
Called up share capital and share premium
|
4,288
|
4,373
|
Other reserves
|
(77)
|
(2,192)
|
Retained earnings
|
53,734
|
52,827
|
Shareholders' equity attributable to ordinary shareholders of the
parent
|
57,945
|
55,008
|
Other equity instruments
|
13,259
|
13,284
|
Total equity excluding non-controlling interests
|
71,204
|
68,292
|
Non-controlling interests
|
660
|
968
|
Total equity
|
71,864
|
69,260
|
|
|
|
Total liabilities and equity
|
1,477,487
|
1,513,699
|
Condensed consolidated statement of changes in equity
|
|||||||
|
Called up share capital and share
premium1,2
|
Other equity
instruments3
|
Other reserves4
|
Retained earnings
|
Total
|
Non-controlling interests
|
Total equity
|
Year ended 31.12.23
|
£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
|
—
|
985
|
—
|
4,274
|
5,259
|
64
|
5,323
|
Currency translation movements
|
—
|
—
|
(1,101)
|
—
|
(1,101)
|
—
|
(1,101)
|
Fair value through other comprehensive income reserve
|
—
|
—
|
194
|
—
|
194
|
—
|
194
|
Cash flow hedges
|
—
|
—
|
3,528
|
—
|
3,528
|
—
|
3,528
|
Retirement benefit remeasurements
|
—
|
—
|
—
|
(855)
|
(855)
|
—
|
(855)
|
Own credit
|
—
|
—
|
(710)
|
—
|
(710)
|
—
|
(710)
|
Total comprehensive income for the period
|
—
|
985
|
1,911
|
3,419
|
6,315
|
64
|
6,379
|
Employee share schemes and hedging thereof
|
124
|
—
|
—
|
497
|
621
|
—
|
621
|
Issue and redemption of other equity instruments
|
—
|
(30)
|
—
|
(38)
|
(68)
|
(312)
|
(380)
|
Other equity instruments coupons paid
|
—
|
(985)
|
—
|
—
|
(985)
|
—
|
(985)
|
Vesting of employee share schemes
|
—
|
—
|
(8)
|
(506)
|
(514)
|
—
|
(514)
|
Dividends paid
|
—
|
—
|
—
|
(1,210)
|
(1,210)
|
(64)
|
(1,274)
|
Repurchase of shares
|
(209)
|
—
|
209
|
(1,257)
|
(1,257)
|
—
|
(1,257)
|
Other movements
|
—
|
5
|
3
|
2
|
10
|
4
|
14
|
Balance as at 31 December 2023
|
4,288
|
13,259
|
(77)
|
53,734
|
71,204
|
660
|
71,864
|
Year ended 31.12.22
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Balance as at 1 January 2022
|
4,536
|
12,259
|
1,770
|
50,487
|
69,052
|
989
|
70,041
|
Profit after tax
|
—
|
905
|
—
|
5,023
|
5,928
|
45
|
5,973
|
Currency translation movements
|
—
|
—
|
2,032
|
—
|
2,032
|
—
|
2,032
|
Fair value through other comprehensive income reserve
|
—
|
—
|
(1,193)
|
—
|
(1,193)
|
—
|
(1,193)
|
Cash flow hedges
|
—
|
—
|
(6,382)
|
—
|
(6,382)
|
—
|
(6,382)
|
Retirement benefit remeasurements
|
—
|
—
|
—
|
(281)
|
(281)
|
—
|
(281)
|
Own credit
|
—
|
—
|
1,463
|
—
|
1,463
|
—
|
1,463
|
Total comprehensive income for the period
|
—
|
905
|
(4,080)
|
4,742
|
1,567
|
45
|
1,612
|
Employee share schemes and hedging thereof
|
70
|
—
|
—
|
476
|
546
|
—
|
546
|
Issue and redemption of other equity instruments
|
—
|
1,032
|
—
|
28
|
1,060
|
(20)
|
1,040
|
Other
equity instruments coupons paid
|
—
|
(905)
|
—
|
—
|
(905)
|
—
|
(905)
|
Disposal of Absa holding
|
—
|
—
|
(84)
|
84
|
—
|
—
|
—
|
Vesting of employee share schemes
|
—
|
—
|
5
|
(485)
|
(480)
|
—
|
(480)
|
Dividends paid
|
—
|
—
|
—
|
(1,028)
|
(1,028)
|
(45)
|
(1,073)
|
Repurchase of shares
|
(233)
|
—
|
233
|
(1,508)
|
(1,508)
|
—
|
(1,508)
|
Own credit realisation
|
—
|
—
|
(36)
|
36
|
—
|
—
|
—
|
Other movements
|
—
|
(7)
|
—
|
(5)
|
(12)
|
(1)
|
(13)
|
Balance as at 31 December 2022
|
4,373
|
13,284
|
(2,192)
|
52,827
|
68,292
|
968
|
69,260
|
1
|
As at 31 December 2023, Called up share capital comprises
15,155m (December 2022:
15,871m) ordinary shares of
25p each.
|
2
|
For the period ended 31 December 2023, Barclays PLC executed two
share buy-backs totalling £1250m. Accordingly, it repurchased and
cancelled 837m shares. The
nominal value of £209m has
been transferred from Share capital to Capital redemption reserve
within Other reserves. For the year ended 31 December 2022, two
share buybacks were executed, totalling £1,500m. Accordingly, Barclays PLC
repurchased and cancelled 931m
shares. The nominal value of £233m was transferred from Share capital to
Capital redemption reserve within Other reserves.
|
3
|
Other equity instruments of £13,259m (December 2022: £13,284m) comprise AT1 securities issued by
Barclays PLC. There were three
issuances in the form of Fixed Rate Resetting Perpetual
Subordinated Contingent Convertible Securities for
£3,140m (net of
£10m issuance costs) and
two redemption of
£3,170m (net of £11m
issuance costs, transferred to retained earnings on redemption) for
the period ended 31 December 2023. During the period ended 31
December 2022, there were three
issuances in the form of Fixed Rate Resetting Perpetual
Subordinated Contingent Convertible Securities, for
£3,158m, which includes
issuance costs of £9m and
two redemptions totalling
£2,126m.
|
4
|
See Note 10 Other reserves.
|
Condensed consolidated cash flow statement
|
||
|
Year ended 31.12.23
|
Year ended 31.12.22
|
|
£m
|
£m
|
Profit before tax
|
6,557
|
7,012
|
Adjustment for non-cash items
|
15,250
|
(8,514)
|
Net decrease/(increase) in loans and advances at amortised
cost
|
10,947
|
(24,949)
|
Net (decrease)/increase in deposits at amortised cost
|
(6,958)
|
26,349
|
Net (decrease)/increase in debt securities in issue
|
(19,640)
|
9,210
|
Changes in other operating assets and liabilities
|
(6,247)
|
21,811
|
Corporate income tax paid
|
(836)
|
(688)
|
Net cash from operating activities
|
(927)
|
30,231
|
Net cash from investing activities
|
(23,414)
|
(21,673)
|
Net cash from financing activities1
|
(1,389)
|
696
|
Effect of exchange rates on cash and cash equivalents
|
(5,053)
|
10,330
|
Net (decrease)/increase in cash and cash equivalents
|
(30,783)
|
19,584
|
Cash and cash equivalents at beginning of the period
|
278,790
|
259,206
|
Cash and cash equivalents at end of the period
|
248,007
|
278,790
|
1
|
Issuance and redemption of debt securities included in financing
activities relate to instruments that qualify as eligible
liabilities and satisfy regulatory requirements for MREL
instruments which came into effect during 2019.
|
|
As at 31.12.23
|
As at 31.12.22
|
Deferred tax assets and liabilities
|
£m
|
£m
|
UK
|
4,081
|
4,925
|
USA
|
1,359
|
1,576
|
Other territories
|
520
|
490
|
Deferred tax assets
|
5,960
|
6,991
|
Deferred tax liabilities
|
(22)
|
(16)
|
|
|
|
Analysis of deferred tax assets
|
|
|
Temporary differences
|
4,212
|
5,345
|
Tax losses
|
1,748
|
1,646
|
Deferred tax assets
|
5,960
|
6,991
|
|
Year ended 31.12.23
|
Year ended 31.12.22
|
|
£m
|
£m
|
Profit attributable to ordinary equity holders of the
parent
|
4,274
|
5,023
|
|
|
|
|
m
|
m
|
Basic weighted average number of shares in issue
|
15,445
|
16,333
|
Number of potential ordinary shares
|
450
|
534
|
Diluted weighted average number of shares
|
15,895
|
16,867
|
|
|
|
|
p
|
p
|
Basic earnings per ordinary share
|
27.7
|
30.8
|
Diluted earnings per ordinary share
|
26.9
|
29.8
|
|
Year ended 31.12.23
|
Year ended 31.12.22
|
||
|
Per share
|
Total
|
Per share
|
Total
|
Dividends paid during the period
|
p
|
£m
|
p
|
£m
|
Full year dividend paid during period
|
5.00
|
793
|
4.00
|
664
|
Interim dividend paid during the period
|
2.70
|
417
|
2.25
|
364
|
Total dividend
|
7.70
|
1,210
|
6.25
|
1,028
|
|
Valuation technique using
|
|
||
|
Quoted market prices
|
Observable inputs
|
Significant unobservable inputs
|
|
|
(Level 1)
|
(Level 2)
|
(Level 3)
|
Total
|
As at 31.12.23
|
£m
|
£m
|
£m
|
£m
|
Trading portfolio assets
|
94,658
|
73,438
|
6,509
|
174,605
|
Financial assets at fair value through the income
statement
|
5,831
|
192,571
|
8,249
|
206,651
|
Derivative financial instruments
|
107
|
253,189
|
3,540
|
256,836
|
Financial assets at fair value through other comprehensive
income
|
30,247
|
40,511
|
1,078
|
71,836
|
Investment property
|
—
|
—
|
2
|
2
|
Total assets
|
130,843
|
559,709
|
19,378
|
709,930
|
|
|
|
|
|
Trading portfolio liabilities
|
(29,274)
|
(29,027)
|
(368)
|
(58,669)
|
Financial liabilities designated at fair value
|
(117)
|
(296,200)
|
(1,222)
|
(297,539)
|
Derivative financial instruments
|
(81)
|
(245,310)
|
(4,653)
|
(250,044)
|
Total liabilities
|
(29,472)
|
(570,537)
|
(6,243)
|
(606,252)
|
|
|
|
|
|
As at 31.12.22
|
|
|
|
|
Trading portfolio assets
|
62,478
|
64,855
|
6,480
|
133,813
|
Financial assets at fair value through the income
statement
|
5,720
|
198,723
|
9,125
|
213,568
|
Derivative financial instruments
|
10,054
|
287,152
|
5,174
|
302,380
|
Financial assets at fair value through other comprehensive
income
|
20,704
|
44,347
|
11
|
65,062
|
Investment property
|
—
|
—
|
5
|
5
|
Total assets
|
98,956
|
595,077
|
20,795
|
714,828
|
|
|
|
|
|
Trading portfolio liabilities
|
(44,128)
|
(28,740)
|
(56)
|
(72,924)
|
Financial liabilities designated at fair value
|
(133)
|
(270,454)
|
(1,050)
|
(271,637)
|
Derivative financial instruments
|
(10,823)
|
(272,434)
|
(6,363)
|
(289,620)
|
Total liabilities
|
(55,084)
|
(571,628)
|
(7,469)
|
(634,181)
|
|
Year ended 31.12.23
|
Year ended 31.12.22
|
|
£m
|
£m
|
Opening balance as at 1 January
|
11,423
|
12,759
|
Issuances
|
1,523
|
1,477
|
Redemptions
|
(2,239)
|
(2,679)
|
Other
|
(213)
|
(134)
|
Closing balance
|
10,494
|
11,423
|
|
As at 31.12.23
|
As at 31.12.22
|
|
£m
|
£m
|
Customer
redress
|
295
|
378
|
Legal,
competition and regulatory matters
|
99
|
159
|
Redundancy
and restructuring
|
397
|
136
|
Undrawn
contractually committed facilities and guarantees
|
504
|
583
|
Sundry
provisions
|
289
|
288
|
Total
|
1,584
|
1,544
|
|
As at 31.12.23
|
As at 31.12.22
|
|
£m
|
£m
|
Currency translation reserve
|
3,671
|
4,772
|
Fair value through other comprehensive income reserve
|
(1,366)
|
(1,560)
|
Cash flow hedging reserve
|
(3,707)
|
(7,235)
|
Own credit reserve
|
(240)
|
467
|
Other reserves and treasury shares
|
1,565
|
1,364
|
Total
|
(77)
|
(2,192)
|
Measure
|
Definition
|
Loan: deposit ratio
|
Total
loans and advances at amortised cost divided by total deposits at
amortised cost. The components of the calculation have been
included on page 53.
|
Attributable profit
|
Profit after tax attributable to ordinary shareholders of the
parent.
|
Period end tangible equity refers to:
|
|
Period end tangible shareholders' equity (for Barclays
Group)
|
Shareholders' equity attributable to ordinary shareholders of the
parent, adjusted for the deduction of intangible assets and
goodwill.
|
Period end allocated tangible equity (for businesses)
|
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 Barclays Group uses for capital
planning purposes. Head Office allocated tangible equity represents
the difference between the Barclays Group’s tangible
shareholders’ equity and the amounts allocated to
businesses.
|
Average tangible equity refers to:
|
|
Average tangible shareholders’ equity (for Barclays
Group)
|
Calculated as the average of the previous month’s period end
tangible shareholders' equity and the current month’s period
end tangible shareholders' equity. The average tangible
shareholders’ equity for the period is the average of the
monthly averages within that period.
|
Average allocated tangible equity (for businesses)
|
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 tangible equity (RoTE) refers to:
|
|
Return on average tangible shareholders’ equity (for Barclays
Group)
|
Group
attributable profit, as a proportion of average tangible
shareholders’ equity. The components of the calculation have
been included on pages 70 to
71.
|
Return on average allocated tangible equity (for
businesses)
|
Business
attributable profit, as a proportion of that business's average
allocated tangible equity. The components of the calculation have
been included on pages 70 to
72.
|
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 total gross loans and advances held at amortised cost at
the balance sheet date.
|
Net interest margin
|
Net
interest income divided by the sum of average customer assets. The
components of the calculation have been included on page
26.
|
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
77.
|
Profit before impairment
|
Calculated by excluding credit impairment charges or releases from
profit before tax.
|
Structural cost actions
|
Cost actions taken to improve future financial
performance.
|
Performance measures excluding the impact of Q423 structural cost
actions
|
Calculated
by excluding the impact of Q423 structural cost actions from
performance measures. The components of the calculations for
Barclays Group and businesses have been included on pages
6 to 7 and pages 73 to 74
respectively.
|
Performance measures excluding the impact of the Over-issuance of
Securities
|
Calculated
by excluding the impact of the Over-issuance of Securities from
performance measures. The components of the calculations for
Barclays Group and businesses have been included on pages
6 to 7 and page 75 respectively.
|
|
Year ended 31.12.23
|
|||||
|
Barclays UK
|
Corporate and Investment Bank
|
Consumer, Cards and Payments
|
Barclays International
|
Head Office
|
Barclays Group
|
Return on average tangible equity
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Attributable profit/(loss)
|
1,962
|
2,667
|
358
|
3,025
|
(713)
|
4,274
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Average equity
|
14.0
|
31.7
|
6.1
|
37.8
|
4.0
|
55.8
|
Average goodwill and intangibles
|
(3.8)
|
—
|
(0.8)
|
(0.8)
|
(3.8)
|
(8.4)
|
Average tangible equity
|
10.2
|
31.7
|
5.3
|
37.0
|
0.2
|
47.4
|
|
|
|
|
|
|
|
Return on average tangible equity
|
19.2%
|
8.4%
|
6.7%
|
8.2%
|
n/m
|
9.0%
|
|
Year ended 31.12.22
|
|||||
|
Barclays UK
|
Corporate and Investment Bank
|
Consumer, Cards and Payments
|
Barclays International
|
Head Office
|
Barclays Group
|
Return on average tangible equity
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Attributable profit/(loss)
|
1,877
|
3,364
|
480
|
3,844
|
(698)
|
5,023
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Average equity
|
13.6
|
32.8
|
5.7
|
38.5
|
4.3
|
56.4
|
Average goodwill and intangibles
|
(3.6)
|
—
|
(0.9)
|
(0.9)
|
(3.6)
|
(8.1)
|
Average tangible equity
|
10.0
|
32.8
|
4.8
|
37.6
|
0.7
|
48.3
|
|
|
|
|
|
|
|
Return on average tangible equity
|
18.7%
|
10.2%
|
10.0%
|
10.2%
|
n/m
|
10.4%
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Attributable (loss)/profit
|
(111)
|
1,274
|
1,328
|
1,783
|
|
1,036
|
1,512
|
1,071
|
1,404
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average shareholders' equity
|
57.1
|
55.1
|
55.4
|
55.9
|
|
54.9
|
56.8
|
57.1
|
56.9
|
Average goodwill and intangibles
|
(8.2)
|
(8.6)
|
(8.7)
|
(8.3)
|
|
(8.2)
|
(8.2)
|
(8.1)
|
(8.1)
|
Average tangible shareholders' equity
|
48.9
|
46.5
|
46.7
|
47.6
|
|
46.7
|
48.6
|
49.0
|
48.8
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
(0.9)%
|
11.0%
|
11.4%
|
15.0%
|
|
8.9%
|
12.5%
|
8.7%
|
11.5%
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Attributable profit
|
382
|
531
|
534
|
515
|
|
474
|
549
|
458
|
396
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
14.1
|
14.0
|
14.2
|
13.9
|
|
13.7
|
13.5
|
13.6
|
13.7
|
Average goodwill and intangibles
|
(3.9)
|
(3.9)
|
(4.0)
|
(3.6)
|
|
(3.5)
|
(3.6)
|
(3.6)
|
(3.6)
|
Average allocated tangible equity
|
10.2
|
10.1
|
10.2
|
10.3
|
|
10.2
|
9.9
|
10.0
|
10.1
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
14.9%
|
21.0%
|
20.9%
|
20.0%
|
|
18.7%
|
22.1%
|
18.4%
|
15.6%
|
Barclays International
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Attributable (loss)/profit
|
(124)
|
848
|
953
|
1,348
|
|
625
|
1,136
|
783
|
1,300
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
37.6
|
37.6
|
38.0
|
38.1
|
|
39.9
|
40.1
|
38.2
|
36.0
|
Average goodwill and intangibles
|
(0.5)
|
(0.8)
|
(0.9)
|
(1.0)
|
|
(1.0)
|
(1.0)
|
(0.9)
|
(0.9)
|
Average allocated tangible equity
|
37.1
|
36.8
|
37.1
|
37.1
|
|
38.9
|
39.1
|
37.3
|
35.1
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
(1.3)%
|
9.2%
|
10.3%
|
14.5%
|
|
6.4%
|
11.6%
|
8.4%
|
14.8%
|
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Attributable (loss)/profit
|
(61)
|
721
|
798
|
1,209
|
|
454
|
1,015
|
579
|
1,316
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
31.6
|
31.5
|
31.8
|
31.8
|
|
33.7
|
34.0
|
32.7
|
30.8
|
Average goodwill and intangibles
|
—
|
—
|
—
|
—
|
|
—
|
—
|
—
|
—
|
Average allocated tangible equity
|
31.6
|
31.5
|
31.8
|
31.8
|
|
33.7
|
34.0
|
32.7
|
30.8
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
(0.8)%
|
9.2%
|
10.0%
|
15.2%
|
|
5.4%
|
11.9%
|
7.1%
|
17.1%
|
Consumer, Cards and Payments
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Attributable (loss)/profit
|
(63)
|
127
|
155
|
139
|
|
171
|
121
|
204
|
(16)
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
6.0
|
6.1
|
6.2
|
6.3
|
|
6.2
|
6.1
|
5.5
|
5.2
|
Average goodwill and intangibles
|
(0.5)
|
(0.8)
|
(0.9)
|
(1.0)
|
|
(1.0)
|
(1.0)
|
(0.9)
|
(0.9)
|
Average allocated tangible equity
|
5.5
|
5.3
|
5.3
|
5.3
|
|
5.2
|
5.1
|
4.6
|
4.3
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
(4.5)%
|
9.6%
|
11.8%
|
10.5%
|
|
13.0%
|
9.5%
|
17.8%
|
(1.5)%
|
|
|
|
|
|
|
|
|
|
|
|
Year ended 31.12.23
|
|||||
|
Barclays UK
|
Corporate and Investment Bank
|
Consumer, Cards and Payments
|
Barclays International
|
Head Office
|
Barclays Group
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Total operating expenses
|
(4,415)
|
(8,458)
|
(3,303)
|
(11,761)
|
(755)
|
(16,931)
|
Q423 structural cost actions
|
(168)
|
(188)
|
(118)
|
(306)
|
(453)
|
(927)
|
Total operating expenses excluding Q423 structural cost
actions
|
(4,247)
|
(8,270)
|
(3,185)
|
(11,455)
|
(302)
|
(16,004)
|
|
|
|
|
|
|
|
Total income
|
7,587
|
12,610
|
5,308
|
17,918
|
(127)
|
25,378
|
|
|
|
|
|
|
|
Cost: income ratio excluding Q423 structural cost
actions
|
56%
|
66%
|
60%
|
64%
|
n/m
|
63%
|
|
|
|
|
|
|
|
Profit/(loss) before tax
|
2,868
|
4,126
|
481
|
4,607
|
(918)
|
6,557
|
Pre-tax impact of Q423 structural cost actions
|
(168)
|
(188)
|
(118)
|
(306)
|
(453)
|
(927)
|
Profit/(loss) before tax excluding Q423 structural cost
actions
|
3,036
|
4,314
|
599
|
4,913
|
(465)
|
7,484
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
1,962
|
2,667
|
358
|
3,025
|
(713)
|
4,274
|
Post-tax impact of Q423 structural cost actions
|
(122)
|
(140)
|
(100)
|
(240)
|
(376)
|
(739)
|
Attributable profit/(loss) excluding the impact of Q423 structural
cost actions
|
2,084
|
2,807
|
458
|
3,265
|
(337)
|
5,013
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Average tangible equity
|
10.2
|
31.7
|
5.3
|
37.0
|
0.2
|
47.4
|
|
|
|
|
|
|
|
Return on average tangible equity excluding Q423 structural cost
actions
|
20.4%
|
8.9%
|
8.6%
|
8.8%
|
n/m
|
10.6%
|
|
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
|
|
|
|
|
15,445
|
Basic earnings per share
|
|
|
|
|
|
32.4p
|
|
Three months ended 31.12.23
|
|||||
|
Barclays UK
|
Corporate and Investment Bank
|
Consumer, Cards and Payments
|
Barclays International
|
Head Office
|
Barclays Group
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Total operating expenses
|
(1,187)
|
(2,266)
|
(936)
|
(3,202)
|
(531)
|
(4,920)
|
Q423 structural cost actions
|
(168)
|
(188)
|
(118)
|
(306)
|
(453)
|
(927)
|
Total operating expenses excluding Q423 structural cost
actions
|
(1,019)
|
(2,078)
|
(818)
|
(2,896)
|
(78)
|
(3,993)
|
|
|
|
|
|
|
|
Total income
|
1,792
|
2,390
|
1,364
|
3,754
|
52
|
5,598
|
|
|
|
|
|
|
|
Cost: income ratio excluding Q423 structural cost
actions
|
57%
|
87%
|
60%
|
77%
|
n/m
|
71%
|
|
|
|
|
|
|
|
Profit/(loss) before tax
|
568
|
95
|
(68)
|
27
|
(485)
|
110
|
Pre-tax impact of Q423 structural cost actions
|
(168)
|
(188)
|
(118)
|
(306)
|
(453)
|
(927)
|
Profit/(loss) before tax excluding Q423 structural cost
actions
|
736
|
283
|
50
|
333
|
(32)
|
1,037
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
382
|
(61)
|
(63)
|
(124)
|
(369)
|
(111)
|
Post-tax impact of Q423 structural cost actions
|
(122)
|
(140)
|
(100)
|
(240)
|
(376)
|
(739)
|
Attributable profit excluding the impact of Q423 structural cost
actions
|
504
|
79
|
37
|
116
|
7
|
628
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Average tangible equity
|
10.2
|
31.6
|
5.5
|
37.1
|
1.6
|
48.9
|
|
|
|
|
|
|
|
Return on average tangible equity excluding Q423 structural cost
actions
|
19.7%
|
1.0%
|
2.6%
|
1.3%
|
n/m
|
5.1%
|
|
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
|
|
|
|
|
15,092
|
Basic earnings per share
|
|
|
|
|
|
4.2p
|
Year ended
|
31.12.23
|
|
31.12.22
|
|
|
||||
|
Statutory
|
Adjusting items1
|
Excluding adjusting items
|
|
Statutory
|
Adjusting items1
|
Excluding adjusting items
|
|
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
% change
|
Income
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
12,610
|
—
|
12,610
|
|
13,368
|
292
|
13,076
|
|
(4)
|
of which:
|
|
|
|
|
|
|
|
|
|
FICC
|
4,845
|
—
|
4,845
|
|
5,695
|
—
|
5,695
|
|
(15)
|
Equities
|
2,373
|
—
|
2,373
|
|
3,149
|
292
|
2,857
|
|
(17)
|
Global Markets
|
7,218
|
—
|
7,218
|
|
8,844
|
292
|
8,552
|
|
(16)
|
Consumer, Cards and Payments
|
5,308
|
—
|
5,308
|
|
4,499
|
—
|
4,499
|
|
18
|
Barclays International
|
17,918
|
—
|
17,918
|
|
17,867
|
292
|
17,575
|
|
2
|
|
|
|
|
|
|
|
|
|
|
Total operating expenses
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
(8,458)
|
(188)
|
(8,270)
|
|
(8,945)
|
(966)
|
(7,979)
|
|
(4)
|
Consumer, Cards and Payments
|
(3,303)
|
(118)
|
(3,185)
|
|
(3,052)
|
—
|
(3,052)
|
|
(4)
|
Barclays International
|
(11,761)
|
(306)
|
(11,455)
|
|
(11,997)
|
(966)
|
(11,031)
|
|
(4)
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
31.12.23
|
|
31.12.22
|
|
|
||||
|
Statutory
|
Adjusting items1
|
Excluding adjusting items
|
|
Statutory
|
Adjusting items1
|
Excluding adjusting items
|
|
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
% change
|
Income
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
2,390
|
—
|
2,390
|
|
2,576
|
—
|
2,576
|
|
(7)
|
of which:
|
|
|
—
|
|
|
|
|
|
|
FICC
|
724
|
—
|
724
|
|
976
|
—
|
976
|
|
(26)
|
Equities
|
431
|
—
|
431
|
|
440
|
—
|
440
|
|
(2)
|
Global Markets
|
1,155
|
—
|
1,155
|
|
1,416
|
—
|
1,416
|
|
(18)
|
Consumer, Cards and Payments
|
2,390
|
—
|
2,390
|
|
2,576
|
—
|
2,576
|
|
(7)
|
Barclays International
|
3,754
|
—
|
3,754
|
|
3,862
|
—
|
3,862
|
|
(3)
|
|
|
|
|
|
|
|
|
|
|
Total operating expenses
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
(2,266)
|
(188)
|
(2,078)
|
|
(1,977)
|
—
|
(1,977)
|
|
(15)
|
Consumer, Cards and Payments
|
(936)
|
(118)
|
(818)
|
|
(766)
|
—
|
(766)
|
|
(22)
|
Barclays International
|
(3,202)
|
(306)
|
(2,896)
|
|
(2,743)
|
—
|
(2,743)
|
|
(17)
|
1
|
Adjusting items: Q423 structural cost actions in 2023 and impact of
the Over-issuance of Securities in 2022.
|
Notable Items
|
|
|
|
|
Year ended 31.12.23
|
Year ended 31.12.22
|
|||
£m
|
Profit before tax
|
Attributable profit
|
Profit before tax
|
Attributable profit
|
Statutory
|
6,557
|
4,274
|
7,012
|
5,023
|
Net impact from the Over-issuance of Securities
|
—
|
—
|
(674)
|
(552)
|
Customer remediation costs on legacy loan portfolios
|
—
|
—
|
(282)
|
(228)
|
Settlements in principle in respect of industry-wide
devices investigations by SEC and CFTC
|
—
|
—
|
(165)
|
(165)
|
Other litigation and conduct
|
(37)
|
(17)
|
(184)
|
(167)
|
Structural cost actions
|
(1,046)
|
(826)
|
(151)
|
(123)
|
Re-measurement of UK DTAs
|
—
|
—
|
—
|
(346)
|
Excluding the impact of notable items
|
7,640
|
5,117
|
8,468
|
6,604
|
|
|
|
|
|
|
Three months ended 31.12.23
|
Three months ended 31.12.22
|
||
£m
|
Profit before tax
|
Attributable loss
|
Profit before tax
|
Attributable profit
|
Statutory
|
110
|
(111)
|
1,310
|
1,036
|
Net impact from the Over-issuance of Securities
|
—
|
—
|
—
|
—
|
Other litigation and conduct
|
(5)
|
(4)
|
(79)
|
(70)
|
Structural cost actions
|
(927)
|
(739)
|
(74)
|
(63)
|
Excluding the impact of notable items
|
1,042
|
632
|
1,463
|
1,169
|
Tangible net asset value per share
|
As at 31.12.23
|
As at 31.12.22
|
|
£m
|
£m
|
Total equity excluding non-controlling interests
|
71,204
|
68,292
|
Other equity instruments
|
(13,259)
|
(13,284)
|
Goodwill and intangibles
|
(7,794)
|
(8,239)
|
Tangible shareholders' equity attributable to ordinary shareholders
of the parent
|
50,151
|
46,769
|
|
|
|
|
m
|
m
|
Shares in issue
|
15,155
|
15,871
|
|
|
|
|
p
|
p
|
Tangible net asset value per share
|
331
|
295
|
Results timetable1
|
|
|
Date
|
|
|
Ex-dividend date
|
|
|
29 February 2024
|
|
|
Dividend record date
|
|
|
1 March 2024
|
|
|
Cut off time of 5:00pm (UK time) for the receipt of Dividend
Reinvestment Programme (DRIP) Application Form Mandate
|
|
11 March 2024
|
|
||
Dividend payment date
|
|
|
3 April 2024
|
|
|
Q1 2024 Results Announcement
|
|
|
25 April 2024
|
|
|
|
|
|
|
|
|
For qualifying US and Canadian resident ADR holders, the 2023 full
year dividend of 5.3p per ordinary share becomes 21.2p per
ADS
(representing four shares). The ex-dividend, dividend record and
dividend payment dates for ADR holders are as shown
above
|
|
||||
A DRIP is provided by Equiniti Financial Services Limited. The DRIP
enables the Company’s shareholders to elect to have their
cash dividend payments used to purchase the Company’s shares.
More information can be found
at www.shareview.co.uk/info/drip
|
|
||||
DRIP participants will usually receive their additional ordinary
shares (in lieu of a cash dividend) three to four days after the
dividend payment date
|
|
||||
Barclays PLC ordinary shares ISIN code: GB0031348658
|
|
||||
Barclays PLC ordinary shares TIDM Code: BARC
|
|
||||
|
|
||||
|
Year ended
|
Year ended
|
|
|
|
Exchange rates2
|
31.12.23
|
31.12.22
|
% Change3
|
|
|
Period end - USD/GBP
|
1.28
|
1.21
|
6%
|
|
|
YTD average - USD/GBP
|
1.24
|
1.24
|
—
|
|
|
3 month average - USD/GBP
|
1.24
|
1.17
|
6%
|
|
|
Period end - EUR/GBP
|
1.15
|
1.13
|
2%
|
|
|
YTD average - EUR/GBP
|
1.15
|
1.17
|
(2)%
|
|
|
3 month average - EUR/GBP
|
1.15
|
1.15
|
—
|
|
|
|
|
|
|
|
|
Share price data
|
|
|
|
|
|
Barclays PLC (p)
|
153.78
|
158.52
|
|
|
|
Barclays PLC number of shares (m)
|
15,155
|
15,871
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For further information please contact
|
|
|
|
|
|
|
|
|
|
|
|
Investor relations
|
Media relations
|
|
|||
Marina Shchukina +44 (0) 20 7116 2526
|
Tom Hoskin +44 (0) 20 7116 4755
|
|
|||
|
|
|
|||
More information on Barclays can be found on our
website: home.barclays
|
|
||||
|
|
|
|
|
|
Registered office
|
|
|
|
|
|
1 Churchill Place, London, E14 5HP, United Kingdom. Tel: +44 (0) 20
7116 1000. Company number: 48839.
|
|
||||
|
|
|
|
|
|
Registrar
|
|
|
|
|
|
Equiniti, Aspect House, Spencer Road, Lancing, West Sussex, BN99
6DA, United Kingdom.
|
|
||||
Tel:
+44 (0)371 384 2055 (UK and International telephone
number)4.
|
|
||||
|
|
|
|
|
|
American Depositary Receipts (ADRs)
|
|
|
|
|
|
EQ Shareowner Services
|
|
||||
P.O. Box 64504
|
|
||||
St. Paul, MN 55164-0504
|
|
||||
United States of America
|
|
||||
shareowneronline.com
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Toll Free Number: +1 800-990-1135
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Outside the US +1 651-453-2128
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Delivery of ADR certificates and overnight mail
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EQ Shareowner Services, 1110 Centre Pointe Curve, Suite 101,
Mendota Heights, MN 55120-4100, USA.
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Note that these dates are provisional and subject to
change.
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The average rates shown above are derived from daily spot rates
during the year.
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The change is the impact to GBP reported information.
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Lines open 8.30am to 5.30pm (UK time), Monday to Friday, excluding
UK public holidays in England and Wales.
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