|
Exhibit
No. 1
|
1st Quarter
Results
|
|
|
|
BARCLAYS
PLC
|
|
(Registrant)
|
|
By: /s/
Garth Wright
--------------------------------
|
|
Garth
Wright
|
|
Assistant
Secretary
|
|
C. S. Venkatakrishnan, Group Chief Executive,
commented
“In Q124 Barclays delivered a RoTE of 12.3% as we progress towards our targets of
>10% RoTE in 2024, and >12% in 2026. We are focused on
disciplined execution of the plan that we presented at our Investor
Update on 20th February. We have now announced the sale of our
performing Italian mortgage book and are investing in our higher
returning UK consumer businesses, including through the expected
completion of the Tesco Bank acquisition in Q424. We continue to
exercise cost discipline and remain well capitalised with a Common
Equity Tier 1 (CET1) ratio at the end of the quarter of
13.5%."
|
|
Income
|
Profit before tax
|
Attributable profit
|
Cost: income ratio
|
LLR
|
RoTE
|
EPS
|
TNAV per share
|
CET1 ratio
|
Q124
|
£7.0bn
|
£2.3bn
|
£1.6bn
|
60%
|
51bps
|
12.3%
|
10.3p
|
335p
|
13.5%
|
1
|
See Other matters on page 6 for further details on the acquisition
of Tesco Bank’s retail banking business.
|
2
|
WM&I was transferred out of Barclays UK in Q223.
|
1
|
This excludes the impact of the acquisition of Tesco Bank’s
retail banking business, which is expected to generate annualised
NII of c.£400m in the first year post-completion. See Other
Matters on page 6 for further details of the
acquisition.
|
Barclays Group results
|
|
||
for the three months ended
|
31.03.24
|
31.03.23
|
|
|
£m
|
£m
|
% Change
|
Barclays
UK
|
1,826
|
1,961
|
(7)
|
Barclays
UK Corporate Bank
|
434
|
463
|
(6)
|
Barclays
Private Bank and Wealth Management
|
312
|
259
|
20
|
Barclays
Investment Bank
|
3,328
|
3,569
|
(7)
|
Barclays
US Consumer Bank
|
859
|
826
|
4
|
Head
Office
|
194
|
159
|
22
|
Total income
|
6,953
|
7,237
|
(4)
|
Operating costs
|
(3,998)
|
(4,111)
|
3
|
UK
regulatory levies1
|
(120)
|
—
|
#DIV/0!
|
Litigation and conduct
|
(57)
|
1
|
|
Total operating expenses
|
(4,175)
|
(4,110)
|
(2)
|
Other net income/(expenses)
|
12
|
(5)
|
|
Profit before impairment
|
2,790
|
3,122
|
(11)
|
Credit impairment charges
|
(513)
|
(524)
|
2
|
Profit before tax
|
2,277
|
2,598
|
(12)
|
Tax charge
|
(465)
|
(561)
|
17
|
Profit after tax
|
1,812
|
2,037
|
(11)
|
Non-controlling interests
|
(3)
|
(8)
|
63
|
Other equity instrument holders
|
(259)
|
(246)
|
(5)
|
Attributable profit
|
1,550
|
1,783
|
(13)
|
|
|
|
|
Performance measures
|
|
|
|
Return on average tangible shareholders' equity
|
12.3%
|
15.0%
|
|
Average tangible shareholders' equity (£bn)
|
50.5
|
47.6
|
|
Cost: income ratio
|
60%
|
57%
|
|
Loan loss rate (bps)
|
51
|
52
|
|
Basic earnings per ordinary share
|
10.3p
|
11.3p
|
|
Basic weighted average number of shares (m)
|
14,983
|
15,770
|
(5)
|
Period end number of shares (m)
|
15,091
|
15,701
|
(4)
|
Period end tangible shareholders' equity (£bn)
|
50.6
|
47.3
|
|
|
As at 31.03.24
|
As at 31.12.23
|
As at 31.03.23
|
Balance sheet and capital management2
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
397.9
|
399.5
|
403.5
|
Loans and advances at amortised cost impairment coverage
ratio
|
1.4%
|
1.4%
|
1.4%
|
Total assets
|
1,577.1
|
1,477.5
|
1,539.1
|
Deposits at amortised cost
|
552.3
|
538.8
|
555.7
|
Tangible net asset value per share
|
335p
|
331p
|
301p
|
Common equity tier 1 ratio
|
13.5%
|
13.8%
|
13.6%
|
Common equity tier 1 capital
|
47.1
|
47.3
|
46.0
|
Risk weighted assets
|
349.6
|
342.7
|
338.4
|
UK leverage ratio
|
4.9%
|
5.2%
|
5.1%
|
UK leverage exposure
|
1,226.5
|
1,168.3
|
1,168.9
|
|
|
|
|
Funding and liquidity
|
|
|
|
Group liquidity pool (£bn)
|
323.5
|
298.1
|
333.0
|
Liquidity
coverage ratio3
|
163%
|
161%
|
157%
|
Net
stable funding ratio4
|
136%
|
138%
|
139%
|
Loan: deposit ratio
|
72%
|
74%
|
73%
|
1
|
Comprises the impact of the BoE levy scheme and the UK bank
levy.
|
2
|
Refer to pages 31 to 35 for
further information on how capital, RWAs and leverage are
calculated.
|
3
|
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.
|
4
|
Represents average of the last four spot quarter end
positions.
|
1
|
Represents average of the last 12 spot month end
ratios.
|
2
|
Represents average of the last four spot quarter end
ratios.
|
Barclays UK
|
Three months ended
|
||
|
31.03.24
|
31.03.23
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
1,549
|
1,618
|
(4)
|
Net fee, commission and other income
|
277
|
343
|
(19)
|
Total income
|
1,826
|
1,961
|
(7)
|
Operating costs
|
(1,007)
|
(1,092)
|
8
|
UK regulatory levies
|
(54)
|
—
|
#DIV/0!
|
Litigation and conduct
|
(2)
|
(2)
|
—
|
Total operating expenses
|
(1,063)
|
(1,094)
|
3
|
Other net income
|
—
|
—
|
#DIV/0!
|
Profit before impairment
|
763
|
867
|
(12)
|
Credit impairment charges
|
(58)
|
(113)
|
49
|
Profit before tax
|
705
|
754
|
(6)
|
Attributable profit
|
479
|
515
|
(7)
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
18.5%
|
20.0%
|
|
Average allocated tangible equity (£bn)
|
10.4
|
10.3
|
|
Cost: income ratio
|
58%
|
56%
|
|
Loan loss rate (bps)
|
11
|
20
|
|
Net interest margin
|
3.09%
|
3.18%
|
|
|
|
|
|
|
As at 31.03.24
|
As at 31.12.23
|
As at 31.03.23
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
200.8
|
202.8
|
208.2
|
Total assets
|
293.3
|
293.1
|
308.6
|
Customer deposits at amortised cost
|
237.2
|
241.1
|
254.3
|
Loan: deposit ratio
|
92%
|
92%
|
90%
|
Risk weighted assets
|
76.5
|
73.5
|
74.6
|
Period end allocated tangible equity
|
10.7
|
10.2
|
10.3
|
Analysis of Barclays UK
|
Three months ended
|
||
31.03.24
|
31.03.23
|
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
Personal Banking
|
1,128
|
1,253
|
(10)
|
Barclaycard Consumer UK
|
229
|
247
|
(7)
|
Business Banking
|
469
|
461
|
2
|
Total income
|
1,826
|
1,961
|
(7)
|
|
|
|
|
Analysis of credit impairment charges
|
|
|
|
Personal Banking
|
(14)
|
(28)
|
50
|
Barclaycard Consumer UK
|
(38)
|
(83)
|
54
|
Business Banking
|
(6)
|
(2)
|
|
Total credit impairment charges
|
(58)
|
(113)
|
49
|
|
|
|
|
|
As at 31.03.24
|
As at 31.12.23
|
As at 31.03.23
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
£bn
|
Personal Banking
|
169.0
|
170.1
|
173.6
|
Barclaycard Consumer UK
|
9.8
|
9.7
|
9.0
|
Business Banking
|
22.0
|
23.0
|
25.6
|
Total loans and advances to customers at amortised
cost
|
200.8
|
202.8
|
208.2
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
Personal Banking
|
183.4
|
185.4
|
194.3
|
Barclaycard Consumer UK
|
—
|
—
|
—
|
Business Banking
|
53.8
|
55.7
|
60.0
|
Total customer deposits at amortised cost
|
237.2
|
241.1
|
254.3
|
Barclays UK Corporate Bank
|
Three months ended
|
||
|
31.03.24
|
31.03.23
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
277
|
310
|
(11)
|
Net fee, commission, trading and other income
|
157
|
153
|
3
|
Total income
|
434
|
463
|
(6)
|
Operating costs
|
(221)
|
(210)
|
(5)
|
UK regulatory levies
|
(30)
|
—
|
#DIV/0!
|
Litigation and conduct
|
—
|
—
|
|
Total operating expenses
|
(251)
|
(210)
|
(20)
|
Other net income
|
—
|
1
|
|
Profit before impairment
|
183
|
254
|
(28)
|
Credit impairment charges
|
(15)
|
(24)
|
38
|
Profit before tax
|
168
|
230
|
(27)
|
Attributable profit
|
113
|
157
|
(28)
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
15.2%
|
21.7%
|
|
Average allocated tangible equity (£bn)
|
3.0
|
2.9
|
|
Cost: income ratio
|
58%
|
45%
|
|
Loan loss rate (bps)
|
23
|
36
|
|
|
|
|
|
|
As at 31.03.24
|
As at 31.12.23
|
As at 31.03.23
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
25.7
|
26.4
|
27.2
|
Deposits at amortised cost
|
81.7
|
84.9
|
83.6
|
Risk weighted assets
|
21.4
|
20.9
|
20.2
|
Period end allocated tangible equity
|
3.0
|
3.0
|
2.9
|
|
|
|
|
|
Three months ended
|
||
|
31.03.24
|
31.03.23
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
Corporate lending
|
72
|
61
|
18
|
Transaction banking
|
362
|
402
|
(10)
|
Total income
|
434
|
463
|
(6)
|
Barclays Private Bank and Wealth Management
|
Three months ended
|
||
|
31.03.24
|
31.03.23
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
175
|
181
|
(3)
|
Net fee, commission and other income
|
137
|
78
|
76
|
Total income
|
312
|
259
|
20
|
Operating costs
|
(214)
|
(144)
|
(49)
|
UK regulatory levies
|
(3)
|
—
|
#DIV/0!
|
Litigation and conduct
|
—
|
—
|
|
Total operating expenses
|
(217)
|
(144)
|
(51)
|
Other net income
|
—
|
—
|
#DIV/0!
|
Profit before impairment
|
95
|
115
|
(17)
|
Credit impairment charges
|
—
|
(3)
|
|
Profit before tax
|
95
|
112
|
(15)
|
Attributable profit
|
74
|
90
|
(18)
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
28.7%
|
34.5%
|
|
Average allocated tangible equity (£bn)
|
1.0
|
1.0
|
|
Cost: income ratio
|
70%
|
56%
|
|
Loan loss rate (bps)
|
—
|
7
|
|
|
|
|
|
|
As at 31.03.24
|
As at 31.12.23
|
As at 31.03.23
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
13.7
|
13.6
|
14.3
|
Deposits at amortised cost
|
61.9
|
60.3
|
60.8
|
Risk weighted assets
|
7.2
|
7.2
|
7.5
|
Period end allocated tangible equity
|
1.0
|
1.0
|
1.0
|
Client
assets and liabilities1
|
189.1
|
182.9
|
141.5
|
1
|
Client assets and liabilities refers to customer deposits, lending
and invested assets, including c.£28bn WM&I invested
assets transferred from Barclays UK in May 2023.
|
2
|
Invested assets represent assets under management and
supervision.
|
Barclays Investment Bank
|
Three months ended
|
||
|
31.03.24
|
31.03.23
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
197
|
159
|
24
|
Net trading income
|
1,982
|
2,435
|
(19)
|
Net fee, commission and other income
|
1,149
|
975
|
18
|
Total income
|
3,328
|
3,569
|
(7)
|
Operating costs
|
(1,957)
|
(2,032)
|
4
|
UK regulatory levies
|
(33)
|
—
|
#DIV/0!
|
Litigation and conduct
|
(9)
|
2
|
|
Total operating expenses
|
(1,999)
|
(2,030)
|
2
|
Other net expenses
|
—
|
(1)
|
|
Profit before impairment
|
1,329
|
1,538
|
(14)
|
Credit impairment releases/(charges)
|
10
|
(25)
|
|
Profit before tax
|
1,339
|
1,513
|
(12)
|
Attributable profit
|
899
|
1,048
|
(14)
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
12.0%
|
14.4%
|
|
Average allocated tangible equity (£bn)
|
30.0
|
29.1
|
|
Cost: income ratio
|
60%
|
57%
|
|
Loan loss rate (bps)
|
(4)
|
10
|
|
|
|
|
|
|
As at 31.03.24
|
As at 31.12.23
|
As at 31.03.23
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
64.6
|
62.7
|
63.1
|
Loans and advances to banks at amortised cost
|
7.6
|
7.3
|
9.1
|
Debt securities at amortised cost
|
40.4
|
38.9
|
30.7
|
Loans and advances at amortised cost
|
112.6
|
108.9
|
102.9
|
Trading portfolio assets
|
195.3
|
174.5
|
137.6
|
Derivative financial instrument assets
|
248.9
|
255.1
|
256.5
|
Financial assets at fair value through the income
statement
|
225.1
|
202.5
|
243.8
|
Cash collateral and settlement balances
|
129.8
|
102.3
|
124.3
|
Other assets
|
200.4
|
175.8
|
198.8
|
Total assets
|
1,112.1
|
1,019.1
|
1,063.9
|
Deposits at amortised cost
|
151.1
|
132.7
|
137.3
|
Derivative financial instrument liabilities
|
241.5
|
249.7
|
246.7
|
Risk weighted assets
|
200.4
|
197.3
|
198.0
|
Period end allocated tangible equity
|
29.6
|
29.0
|
28.9
|
|
Three months ended
|
||
|
31.03.24
|
31.03.23
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
FICC
|
1,404
|
1,788
|
(21)
|
Equities
|
883
|
704
|
25
|
Global Markets
|
2,287
|
2,492
|
(8)
|
Advisory
|
148
|
212
|
(30)
|
Equity
capital markets
|
68
|
50
|
36
|
Debt
capital markets
|
401
|
341
|
18
|
Fees
|
617
|
603
|
2
|
Corporate
lending
|
42
|
33
|
27
|
Transaction
banking
|
382
|
441
|
(13)
|
International
Corporate Bank
|
424
|
474
|
(11)
|
Investment Banking
|
1,041
|
1,077
|
(3)
|
Total income
|
3,328
|
3,569
|
(7)
|
1
|
Data source: Dealogic for the period covering 1 January to 31 March
2024.
|
2
|
On a comparable basis, period covering 2014-Q124.
|
Barclays US Consumer Bank
|
Three months ended
|
||
|
31.03.24
|
31.03.23
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
688
|
634
|
9
|
Net fee, commission and other income
|
171
|
192
|
(11)
|
Total income
|
859
|
826
|
4
|
Operating costs
|
(387)
|
(427)
|
9
|
UK regulatory levies
|
—
|
—
|
#DIV/0!
|
Litigation and conduct
|
(3)
|
—
|
#DIV/0!
|
Total operating expenses
|
(390)
|
(427)
|
9
|
Other net income
|
—
|
—
|
#DIV/0!
|
Profit before impairment
|
469
|
399
|
18
|
Credit impairment charges
|
(410)
|
(321)
|
(28)
|
Profit before tax
|
59
|
78
|
(24)
|
Attributable profit
|
44
|
59
|
(25)
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
5.3%
|
7.5%
|
|
Average allocated tangible equity (£bn)
|
3.3
|
3.1
|
|
Cost: income ratio
|
46%
|
52%
|
|
Loan loss rate (bps)
|
610
|
515
|
|
Net interest margin
|
11.12%
|
10.97%
|
|
|
|
|
|
|
As at 31.03.24
|
As at 31.12.23
|
As at 31.03.23
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
23.6
|
24.2
|
22.5
|
Deposits at amortised cost
|
20.3
|
19.7
|
18.1
|
Risk weighted assets
|
23.9
|
24.8
|
22.5
|
Period end allocated tangible equity
|
3.3
|
3.4
|
3.1
|
Head Office
|
Three months ended
|
||
|
31.03.24
|
31.03.23
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
186
|
150
|
24
|
Net fee, commission and other income
|
8
|
8
|
—
|
Total income
|
194
|
159
|
22
|
Operating costs
|
(211)
|
(206)
|
(2)
|
UK regulatory levies
|
—
|
—
|
#DIV/0!
|
Litigation and conduct
|
(44)
|
(1)
|
|
Total operating expenses
|
(255)
|
(205)
|
(24)
|
Other net income/(expenses)
|
12
|
(5)
|
|
Loss before impairment
|
(49)
|
(51)
|
4
|
Credit impairment charges
|
(40)
|
(38)
|
(5)
|
Loss before tax
|
(89)
|
(89)
|
—
|
Attributable loss
|
(59)
|
(86)
|
31
|
|
|
|
|
Performance measures
|
|
|
|
Average allocated tangible equity (£bn)
|
2.8
|
1.2
|
|
|
|
|
|
|
As at 31.03.24
|
As at 31.12.23
|
As at 31.03.23
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Risk weighted assets
|
20.2
|
19.0
|
15.6
|
Period end allocated tangible equity
|
3.0
|
3.6
|
1.1
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
|
Q124
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Net interest income
|
3,072
|
|
3,139
|
3,247
|
3,270
|
3,053
|
|
2,741
|
3,068
|
2,422
|
Net fee, commission and other income
|
3,881
|
|
2,459
|
3,011
|
3,015
|
4,184
|
|
3,060
|
2,883
|
4,286
|
Total income
|
6,953
|
|
5,598
|
6,258
|
6,285
|
7,237
|
|
5,801
|
5,951
|
6,708
|
Operating costs
|
(3,998)
|
|
(4,735)
|
(3,949)
|
(3,919)
|
(4,111)
|
|
(3,748)
|
(3,939)
|
(3,682)
|
UK regulatory levies
|
(120)
|
|
(180)
|
—
|
—
|
—
|
|
(176)
|
—
|
—
|
Litigation and conduct
|
(57)
|
|
(5)
|
—
|
(33)
|
1
|
|
(79)
|
339
|
(1,334)
|
Total operating expenses
|
(4,175)
|
|
(4,920)
|
(3,949)
|
(3,952)
|
(4,110)
|
|
(4,003)
|
(3,600)
|
(5,016)
|
Other net income/(expenses)
|
12
|
|
(16)
|
9
|
3
|
(5)
|
|
10
|
(1)
|
7
|
Profit before impairment
|
2,790
|
|
662
|
2,318
|
2,336
|
3,122
|
|
1,808
|
2,350
|
1,699
|
Credit impairment charges
|
(513)
|
|
(552)
|
(433)
|
(372)
|
(524)
|
|
(498)
|
(381)
|
(200)
|
Profit before tax
|
2,277
|
|
110
|
1,885
|
1,964
|
2,598
|
|
1,310
|
1,969
|
1,499
|
Tax (charges)/credit
|
(465)
|
|
23
|
(343)
|
(353)
|
(561)
|
|
33
|
(249)
|
(209)
|
Profit after tax
|
1,812
|
|
133
|
1,542
|
1,611
|
2,037
|
|
1,343
|
1,720
|
1,290
|
Non-controlling interests
|
(3)
|
|
(25)
|
(9)
|
(22)
|
(8)
|
|
(22)
|
(2)
|
(20)
|
Other equity instrument holders
|
(259)
|
|
(219)
|
(259)
|
(261)
|
(246)
|
|
(285)
|
(206)
|
(199)
|
Attributable profit/(loss)
|
1,550
|
|
(111)
|
1,274
|
1,328
|
1,783
|
|
1,036
|
1,512
|
1,071
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
12.3%
|
|
(0.9)%
|
11.0%
|
11.4%
|
15.0%
|
|
8.9%
|
12.5%
|
8.7%
|
Average tangible shareholders' equity (£bn)
|
50.5
|
|
48.9
|
46.5
|
46.7
|
47.6
|
|
46.7
|
48.6
|
49.0
|
Cost: income ratio
|
60%
|
|
88%
|
63%
|
63%
|
57%
|
|
69%
|
60%
|
75%
|
Loan loss rate (bps)
|
51
|
|
54
|
42
|
37
|
52
|
|
49
|
36
|
20
|
Basic earnings per ordinary share
|
10.3p
|
|
(0.7)p
|
8.3p
|
8.6p
|
11.3p
|
|
6.5p
|
9.4p
|
6.4p
|
Basic weighted average number of shares (m)
|
14,983
|
|
15,092
|
15,405
|
15,523
|
15,770
|
|
15,828
|
16,148
|
16,684
|
Period end number of shares (m)
|
15,091
|
|
15,155
|
15,239
|
15,556
|
15,701
|
|
15,871
|
15,888
|
16,531
|
Period end tangible shareholders' equity (£bn)
|
50.6
|
|
50.2
|
48.2
|
45.3
|
47.3
|
|
46.8
|
45.4
|
49.0
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet and capital management1
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
332.1
|
|
333.3
|
339.6
|
337.4
|
343.6
|
|
343.3
|
346.3
|
337.2
|
Loans and advances to banks at amortised cost
|
8.5
|
|
9.5
|
11.5
|
10.9
|
11.0
|
|
10.0
|
12.5
|
12.5
|
Debt securities at amortised cost
|
57.4
|
|
56.7
|
54.3
|
53.1
|
48.9
|
|
45.5
|
54.8
|
46.1
|
Loans and advances at amortised cost
|
397.9
|
|
399.5
|
405.4
|
401.4
|
403.5
|
|
398.8
|
413.7
|
395.8
|
Loans and advances at amortised cost impairment coverage
ratio
|
1.4%
|
|
1.4%
|
1.4%
|
1.4%
|
1.4%
|
|
1.4%
|
1.4%
|
1.4%
|
Total assets
|
1,577.1
|
|
1,477.5
|
1,591.7
|
1,549.7
|
1,539.1
|
|
1,513.7
|
1,726.9
|
1,589.2
|
Deposits at amortised cost
|
552.3
|
|
538.8
|
561.3
|
554.7
|
555.7
|
|
545.8
|
574.4
|
568.7
|
Tangible net asset value per share
|
335p
|
|
331p
|
316p
|
291p
|
301p
|
|
295p
|
286p
|
297p
|
Common equity tier 1 ratio
|
13.5%
|
|
13.8%
|
14.0%
|
13.8%
|
13.6%
|
|
13.9%
|
13.8%
|
13.6%
|
Common equity tier 1 capital
|
47.1
|
|
47.3
|
48.0
|
46.6
|
46.0
|
|
46.9
|
48.6
|
46.7
|
Risk weighted assets
|
349.6
|
|
342.7
|
341.9
|
336.9
|
338.4
|
|
336.5
|
350.8
|
344.5
|
UK leverage ratio
|
4.9%
|
|
5.2%
|
5.0%
|
5.1%
|
5.1%
|
|
5.3%
|
5.0%
|
5.1%
|
UK leverage exposure
|
1,226.5
|
|
1,168.3
|
1,202.4
|
1,183.7
|
1,168.9
|
|
1,130.0
|
1,232.1
|
1,151.2
|
|
|
|
|
|
|
|
|
|
|
|
Funding and liquidity
|
|
|
|
|
|
|
|
|
|
|
Group liquidity pool (£bn)
|
323.5
|
|
298.1
|
335.0
|
330.7
|
333.0
|
|
318.0
|
325.8
|
342.5
|
Liquidity
coverage ratio2
|
163%
|
|
161%
|
159%
|
157%
|
157%
|
|
156%
|
156%
|
157%
|
Net
stable funding ratio3
|
136%
|
|
138%
|
138%
|
139%
|
139%
|
|
137%
|
|
|
Loan: deposit ratio
|
72%
|
|
74%
|
72%
|
72%
|
73%
|
|
73%
|
72%
|
70%
|
1
|
Refer to pages 31 to
35 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
|
|
|
|
|
|
|
|
|
|
|
|
Q124
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Net interest income
|
1,549
|
|
1,575
|
1,578
|
1,660
|
1,618
|
|
1,600
|
1,561
|
1,393
|
Net fee, commission and other income
|
277
|
|
217
|
295
|
301
|
343
|
|
370
|
355
|
331
|
Total income
|
1,826
|
|
1,792
|
1,873
|
1,961
|
1,961
|
|
1,970
|
1,916
|
1,724
|
Operating costs
|
(1,007)
|
|
(1,153)
|
(1,058)
|
(1,090)
|
(1,092)
|
|
(1,108)
|
(1,069)
|
(1,085)
|
UK regulatory levies
|
(54)
|
|
(30)
|
—
|
—
|
—
|
|
(26)
|
—
|
—
|
Litigation and conduct
|
(2)
|
|
(4)
|
9
|
5
|
(2)
|
|
(13)
|
(3)
|
(16)
|
Total operating expenses
|
(1,063)
|
|
(1,187)
|
(1,049)
|
(1,085)
|
(1,094)
|
|
(1,147)
|
(1,072)
|
(1,101)
|
Other net income/(expenses)
|
—
|
|
—
|
—
|
—
|
—
|
|
1
|
(1)
|
—
|
Profit before impairment
|
763
|
|
605
|
824
|
876
|
867
|
|
824
|
843
|
623
|
Credit impairment charges
|
(58)
|
|
(37)
|
(59)
|
(95)
|
(113)
|
|
(157)
|
(81)
|
—
|
Profit before tax
|
705
|
|
568
|
765
|
781
|
754
|
|
667
|
762
|
623
|
Attributable profit
|
479
|
|
382
|
531
|
534
|
515
|
|
474
|
549
|
458
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
200.8
|
|
202.8
|
204.9
|
206.8
|
208.2
|
|
205.1
|
205.1
|
205.9
|
Customer deposits at amortised cost
|
237.2
|
|
241.1
|
243.2
|
249.8
|
254.3
|
|
258.0
|
261.0
|
261.5
|
Loan: deposit ratio
|
92%
|
|
92%
|
92%
|
90%
|
90%
|
|
87%
|
86%
|
85%
|
Risk weighted assets
|
76.5
|
|
73.5
|
73.2
|
73.0
|
74.6
|
|
73.1
|
73.2
|
72.2
|
Period end allocated tangible equity
|
10.7
|
|
10.2
|
10.1
|
10.1
|
10.3
|
|
10.1
|
10.1
|
9.9
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
18.5%
|
|
14.9%
|
21.0%
|
20.9%
|
20.0%
|
|
18.7%
|
22.1%
|
18.4%
|
Average allocated tangible equity (£bn)
|
10.4
|
|
10.2
|
10.1
|
10.2
|
10.3
|
|
10.2
|
9.9
|
10.0
|
Cost: income ratio
|
58%
|
|
66%
|
56%
|
55%
|
56%
|
|
58%
|
56%
|
64%
|
Loan loss rate (bps)
|
11
|
|
7
|
10
|
17
|
20
|
|
27
|
14
|
—
|
Net interest margin
|
3.09%
|
|
3.07%
|
3.04%
|
3.22%
|
3.18%
|
|
3.10%
|
3.01%
|
2.71%
|
Analysis of Barclays UK
|
Q124
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Analysis of total income
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Personal Banking
|
1,128
|
|
1,067
|
1,165
|
1,244
|
1,253
|
|
1,229
|
1,212
|
1,077
|
Barclaycard Consumer UK
|
229
|
|
242
|
238
|
237
|
247
|
|
269
|
283
|
265
|
Business Banking
|
469
|
|
483
|
470
|
480
|
461
|
|
472
|
421
|
382
|
Total income
|
1,826
|
|
1,792
|
1,873
|
1,961
|
1,961
|
|
1,970
|
1,916
|
1,724
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of credit impairment charges
|
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
(14)
|
|
35
|
(85)
|
(92)
|
(28)
|
|
(120)
|
(26)
|
(42)
|
Barclaycard Consumer UK
|
(38)
|
|
(73)
|
29
|
(35)
|
(83)
|
|
(12)
|
2
|
84
|
Business Banking
|
(6)
|
|
1
|
(3)
|
32
|
(2)
|
|
(25)
|
(57)
|
(42)
|
Total credit impairment charges
|
(58)
|
|
(37)
|
(59)
|
(95)
|
(113)
|
|
(157)
|
(81)
|
—
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Personal Banking
|
169.0
|
|
170.1
|
172.3
|
173.3
|
173.6
|
|
169.7
|
168.7
|
167.1
|
Barclaycard Consumer UK
|
9.8
|
|
9.7
|
9.6
|
9.3
|
9.0
|
|
9.2
|
9.0
|
8.8
|
Business Banking
|
22.0
|
|
23.0
|
23.0
|
24.2
|
25.6
|
|
26.2
|
27.4
|
30.0
|
Total loans and advances to customers at amortised
cost
|
200.8
|
|
202.8
|
204.9
|
206.8
|
208.2
|
|
205.1
|
205.1
|
205.9
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
183.4
|
|
185.4
|
186.1
|
191.1
|
194.3
|
|
195.6
|
197.3
|
197.0
|
Barclaycard Consumer UK
|
—
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
—
|
Business Banking
|
53.8
|
|
55.7
|
57.1
|
58.7
|
60.0
|
|
62.4
|
63.7
|
64.5
|
Total customer deposits at amortised cost
|
237.2
|
|
241.1
|
243.2
|
249.8
|
254.3
|
|
258.0
|
261.0
|
261.5
|
Barclays UK Corporate Bank
|
|
|
|
|
|
|
|
|
|
|
|
Q124
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Net interest income
|
277
|
|
247
|
304
|
299
|
310
|
|
324
|
309
|
266
|
Net fee, commission, trading and other income
|
157
|
|
148
|
136
|
173
|
153
|
|
153
|
124
|
139
|
Total income
|
434
|
|
395
|
440
|
472
|
463
|
|
477
|
433
|
405
|
Operating costs
|
(221)
|
|
(258)
|
(224)
|
(213)
|
(210)
|
|
(213)
|
(209)
|
(198)
|
UK regulatory levies
|
(30)
|
|
(8)
|
—
|
—
|
—
|
|
(7)
|
—
|
—
|
Litigation and conduct
|
—
|
|
(1)
|
2
|
—
|
—
|
|
—
|
—
|
—
|
Total operating expenses
|
(251)
|
|
(267)
|
(222)
|
(213)
|
(210)
|
|
(220)
|
(209)
|
(198)
|
Other net (expenses)/income
|
—
|
|
(5)
|
—
|
1
|
1
|
|
1
|
—
|
—
|
Profit before impairment
|
183
|
|
123
|
218
|
260
|
254
|
|
258
|
224
|
207
|
Credit impairment (charges)/releases
|
(15)
|
|
(18)
|
(15)
|
84
|
(24)
|
|
(52)
|
32
|
29
|
Profit before tax
|
168
|
|
105
|
203
|
344
|
230
|
|
206
|
256
|
236
|
Attributable profit
|
113
|
|
59
|
129
|
239
|
157
|
|
131
|
172
|
166
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
25.7
|
|
26.4
|
26.9
|
26.9
|
27.2
|
|
26.9
|
27.2
|
27.1
|
Deposits at amortised cost
|
81.7
|
|
84.9
|
82.7
|
82.6
|
83.6
|
|
84.4
|
86.1
|
87.1
|
Risk weighted assets
|
21.4
|
|
20.9
|
19.5
|
20.6
|
20.2
|
|
21.1
|
20.4
|
21.0
|
Period end allocated tangible equity
|
3.0
|
|
3.0
|
2.8
|
2.9
|
2.9
|
|
3.0
|
2.9
|
3.0
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
15.2%
|
|
8.4%
|
18.3%
|
32.9%
|
21.7%
|
|
17.8%
|
23.4%
|
22.3%
|
Average allocated tangible equity (£bn)
|
3.0
|
|
2.8
|
2.8
|
2.9
|
2.9
|
|
2.9
|
2.9
|
3.0
|
Cost: income ratio
|
58%
|
|
68%
|
50%
|
45%
|
45%
|
|
46%
|
48%
|
49%
|
Loan loss rate (bps)
|
23
|
|
27
|
21
|
(123)
|
36
|
|
74
|
(45)
|
(42)
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of total income
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Corporate lending
|
72
|
|
64
|
69
|
68
|
61
|
|
66
|
56
|
63
|
Transaction banking
|
362
|
|
331
|
371
|
404
|
402
|
|
411
|
377
|
342
|
Total income
|
434
|
|
395
|
440
|
472
|
463
|
|
477
|
433
|
405
|
Barclays Private Bank and Wealth Management
|
|
|
|
|
|
|
|
|
|
|
|
Q124
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Net interest income
|
175
|
|
182
|
219
|
186
|
181
|
|
205
|
197
|
167
|
Net fee, commission and other income
|
137
|
|
131
|
118
|
113
|
78
|
|
81
|
72
|
78
|
Total income
|
312
|
|
313
|
337
|
299
|
259
|
|
286
|
269
|
245
|
Operating costs
|
(214)
|
|
(255)
|
(214)
|
(182)
|
(144)
|
|
(153)
|
(135)
|
(138)
|
UK regulatory levies
|
(3)
|
|
(4)
|
—
|
—
|
—
|
|
(4)
|
—
|
—
|
Litigation and conduct
|
—
|
|
2
|
—
|
—
|
—
|
|
—
|
—
|
—
|
Total operating expenses
|
(217)
|
|
(257)
|
(214)
|
(182)
|
(144)
|
|
(157)
|
(135)
|
(138)
|
Other net income
|
—
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
—
|
Profit before impairment
|
95
|
|
56
|
123
|
117
|
115
|
|
129
|
134
|
107
|
Credit impairment releases/(charges)
|
—
|
|
4
|
2
|
(7)
|
(3)
|
|
(10)
|
—
|
3
|
Profit before tax
|
95
|
|
60
|
125
|
110
|
112
|
|
119
|
134
|
110
|
Attributable profit
|
74
|
|
47
|
102
|
91
|
90
|
|
92
|
108
|
85
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
13.7
|
|
13.6
|
13.4
|
13.8
|
14.3
|
|
14.4
|
14.6
|
14.3
|
Deposits at amortised cost
|
61.9
|
|
60.3
|
59.7
|
59.2
|
60.8
|
|
62.3
|
62.9
|
59.1
|
Risk weighted assets
|
7.2
|
|
7.2
|
7.2
|
7.2
|
7.5
|
|
7.8
|
7.9
|
7.4
|
Period end allocated tangible equity
|
1.0
|
|
1.0
|
1.0
|
1.0
|
1.0
|
|
1.1
|
1.1
|
1.0
|
Client assets and liabilities
|
189.1
|
|
182.9
|
178.7
|
174.1
|
141.5
|
|
139.4
|
138.4
|
131.2
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
28.7%
|
|
19.1%
|
41.2%
|
35.9%
|
34.5%
|
|
34.9%
|
41.7%
|
33.5%
|
Average allocated tangible equity (£bn)
|
1.0
|
|
1.0
|
1.0
|
1.0
|
1.0
|
|
1.1
|
1.0
|
1.0
|
Cost: income ratio
|
70%
|
|
82%
|
63%
|
61%
|
56%
|
|
55%
|
50%
|
56%
|
Loan loss rate (bps)
|
—
|
|
(10)
|
(7)
|
20
|
7
|
|
26
|
1
|
(7)
|
Barclays Investment Bank
|
|
|
|
|
|
|
|
|
|
|
|
Q124
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Net interest income
|
197
|
|
282
|
397
|
555
|
159
|
|
228
|
304
|
147
|
Net trading income
|
1,982
|
|
757
|
1,497
|
1,351
|
2,435
|
|
1,197
|
1,346
|
2,734
|
Net fee, commission and other income
|
1,149
|
|
998
|
792
|
837
|
975
|
|
731
|
794
|
801
|
Total income
|
3,328
|
|
2,037
|
2,686
|
2,743
|
3,569
|
|
2,156
|
2,444
|
3,682
|
Operating costs
|
(1,957)
|
|
(1,934)
|
(1,840)
|
(1,813)
|
(2,032)
|
|
(1,619)
|
(1,869)
|
(1,704)
|
UK regulatory levies
|
(33)
|
|
(123)
|
—
|
—
|
—
|
|
(119)
|
—
|
—
|
Litigation and conduct
|
(9)
|
|
(2)
|
6
|
(1)
|
2
|
|
(55)
|
498
|
(1,314)
|
Total operating expenses
|
(1,999)
|
|
(2,059)
|
(1,834)
|
(1,814)
|
(2,030)
|
|
(1,793)
|
(1,371)
|
(3,018)
|
Other net (expenses)/income
|
—
|
|
(1)
|
2
|
—
|
(1)
|
|
1
|
1
|
(1)
|
Profit/(loss) before impairment
|
1,329
|
|
(23)
|
854
|
929
|
1,538
|
|
364
|
1,074
|
663
|
Credit impairment releases/(charges)
|
10
|
|
(23)
|
23
|
(77)
|
(25)
|
|
(22)
|
(93)
|
(106)
|
Profit/(loss) before tax
|
1,339
|
|
(46)
|
877
|
852
|
1,513
|
|
342
|
981
|
557
|
Attributable profit/(loss)
|
899
|
|
(149)
|
580
|
562
|
1,048
|
|
313
|
847
|
418
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
64.6
|
|
62.7
|
62.3
|
59.1
|
63.1
|
|
64.6
|
67.5
|
60.5
|
Loans and advances to banks at amortised cost
|
7.6
|
|
7.3
|
9.5
|
9.0
|
9.1
|
|
8.1
|
10.1
|
10.0
|
Debt securities at amortised cost
|
40.4
|
|
38.9
|
36.3
|
35.1
|
30.7
|
|
27.2
|
36.2
|
29.3
|
Loans and advances at amortised cost
|
112.6
|
|
108.9
|
108.1
|
103.2
|
102.9
|
|
99.9
|
113.8
|
99.8
|
Trading portfolio assets
|
195.3
|
|
174.5
|
155.3
|
165.0
|
137.6
|
|
133.7
|
126.1
|
126.7
|
Derivative financial instrument assets
|
248.9
|
|
255.1
|
280.4
|
264.8
|
256.5
|
|
301.6
|
415.5
|
343.4
|
Financial assets at fair value through the income
statement
|
225.1
|
|
202.5
|
237.2
|
231.1
|
243.8
|
|
209.4
|
243.6
|
208.0
|
Cash collateral and settlement balances
|
129.8
|
|
102.3
|
134.6
|
122.1
|
124.3
|
|
106.2
|
162.2
|
127.1
|
Deposits at amortised cost
|
151.1
|
|
132.7
|
154.2
|
142.9
|
137.3
|
|
121.5
|
143.4
|
142.5
|
Derivative financial instrument liabilities
|
241.5
|
|
249.7
|
268.3
|
254.5
|
246.7
|
|
288.9
|
394.2
|
321.2
|
Risk weighted assets
|
200.4
|
|
197.3
|
201.1
|
197.2
|
198.0
|
|
195.9
|
211.4
|
207.7
|
Period end allocated tangible equity
|
29.6
|
|
29.0
|
29.0
|
28.7
|
28.9
|
|
28.6
|
30.8
|
30.3
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
12.0%
|
|
(2.1)%
|
8.0%
|
7.7%
|
14.4%
|
|
4.0%
|
10.9%
|
5.6%
|
Average allocated tangible equity (£bn)
|
30.0
|
|
28.9
|
28.8
|
29.0
|
29.1
|
|
30.9
|
31.2
|
29.9
|
Cost: income ratio
|
60%
|
|
101%
|
68%
|
66%
|
57%
|
|
83%
|
56%
|
82%
|
Loan loss rate (bps)
|
(4)
|
|
8
|
(8)
|
30
|
10
|
|
9
|
32
|
42
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of total income
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
FICC
|
1,404
|
|
724
|
1,147
|
1,186
|
1,788
|
|
976
|
1,546
|
1,529
|
Equities
|
883
|
|
431
|
675
|
563
|
704
|
|
440
|
246
|
1,411
|
Global Markets
|
2,287
|
|
1,155
|
1,822
|
1,749
|
2,492
|
|
1,416
|
1,792
|
2,940
|
Advisory
|
148
|
|
171
|
80
|
130
|
212
|
|
197
|
150
|
236
|
Equity
capital markets
|
68
|
|
38
|
62
|
69
|
50
|
|
40
|
42
|
37
|
Debt
capital markets
|
401
|
|
301
|
233
|
273
|
341
|
|
243
|
341
|
281
|
Fees
|
617
|
|
510
|
375
|
472
|
603
|
|
480
|
533
|
554
|
Corporate
lending
|
42
|
|
(23)
|
103
|
100
|
33
|
|
(194)
|
(237)
|
(110)
|
Transaction
banking
|
382
|
|
395
|
386
|
422
|
441
|
|
454
|
356
|
298
|
International
Corporate Banking
|
424
|
|
372
|
489
|
522
|
474
|
|
260
|
119
|
188
|
Investment Banking
|
1,041
|
|
882
|
864
|
994
|
1,077
|
|
740
|
652
|
742
|
Total income
|
3,328
|
|
2,037
|
2,686
|
2,743
|
3,569
|
|
2,156
|
2,444
|
3,682
|
Barclays US Consumer Bank
|
|
|
|
|
|
|
|
|
|
|
|
Q124
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Net interest income
|
688
|
|
686
|
662
|
622
|
634
|
|
639
|
616
|
389
|
Net fee, commission, trading and other income
|
171
|
|
180
|
147
|
145
|
192
|
|
149
|
137
|
240
|
Total income
|
859
|
|
866
|
809
|
767
|
826
|
|
788
|
753
|
629
|
Operating costs
|
(387)
|
|
(418)
|
(404)
|
(401)
|
(427)
|
|
(425)
|
(429)
|
(365)
|
UK regulatory levies
|
—
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
—
|
Litigation and conduct
|
(3)
|
|
(2)
|
—
|
(4)
|
—
|
|
(3)
|
—
|
—
|
Total operating expenses
|
(390)
|
|
(420)
|
(404)
|
(405)
|
(427)
|
|
(428)
|
(429)
|
(365)
|
Other net income
|
—
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
—
|
Profit before impairment
|
469
|
|
446
|
405
|
362
|
399
|
|
360
|
324
|
264
|
Credit impairment charges
|
(410)
|
|
(449)
|
(404)
|
(264)
|
(321)
|
|
(224)
|
(172)
|
(108)
|
Profit/(loss) before tax
|
59
|
|
(3)
|
1
|
98
|
78
|
|
136
|
152
|
156
|
Attributable profit/(loss)
|
44
|
|
(3)
|
3
|
72
|
59
|
|
101
|
107
|
118
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
23.6
|
|
24.2
|
24.3
|
22.9
|
22.5
|
|
23.6
|
23.6
|
21.0
|
Deposits at amortised cost
|
20.3
|
|
19.7
|
19.3
|
17.9
|
18.1
|
|
18.3
|
19.8
|
17.8
|
Risk weighted assets
|
23.9
|
|
24.8
|
24.1
|
22.5
|
22.5
|
|
23.9
|
23.6
|
21.7
|
Period end allocated tangible equity
|
3.3
|
|
3.4
|
3.3
|
3.1
|
3.1
|
|
3.3
|
3.2
|
3.0
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
5.3%
|
|
(0.3)%
|
0.4%
|
9.3%
|
7.5%
|
|
12.6%
|
13.9%
|
18.2%
|
Average allocated tangible equity (£bn)
|
3.3
|
|
3.3
|
3.1
|
3.1
|
3.1
|
|
3.2
|
3.1
|
2.6
|
Cost: income ratio
|
46%
|
|
48%
|
50%
|
53%
|
52%
|
|
54%
|
57%
|
58%
|
Loan loss rate (bps)
|
610
|
|
636
|
582
|
411
|
515
|
|
337
|
257
|
179
|
Net interest margin
|
11.12%
|
|
10.88%
|
10.88%
|
10.66%
|
10.97%
|
|
10.64%
|
10.81%
|
8.37%
|
Head Office
|
|
|
|
|
|
|
|
|
|
|
|
Q124
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Net interest income
|
186
|
|
168
|
87
|
(52)
|
150
|
|
(253)
|
80
|
61
|
Net fee, commission and other income
|
8
|
|
27
|
26
|
96
|
8
|
|
378
|
55
|
(38)
|
Total income
|
194
|
|
195
|
113
|
43
|
159
|
|
124
|
136
|
23
|
Operating costs
|
(211)
|
|
(717)
|
(209)
|
(220)
|
(206)
|
|
(230)
|
(228)
|
(192)
|
UK regulatory levies
|
—
|
|
(14)
|
—
|
—
|
—
|
|
(20)
|
—
|
—
|
Litigation and conduct
|
(44)
|
|
1
|
(16)
|
(32)
|
(1)
|
|
(9)
|
(155)
|
(4)
|
Total operating expenses
|
(255)
|
|
(730)
|
(226)
|
(253)
|
(205)
|
|
(258)
|
(384)
|
(196)
|
Other net income/(expenses)
|
12
|
|
(10)
|
7
|
2
|
(5)
|
|
7
|
(1)
|
8
|
Loss before impairment
|
(49)
|
|
(545)
|
(106)
|
(208)
|
(51)
|
|
(127)
|
(249)
|
(165)
|
Credit impairment (charges)/releases
|
(40)
|
|
(29)
|
20
|
(13)
|
(38)
|
|
(33)
|
(67)
|
(18)
|
Loss before tax
|
(89)
|
|
(574)
|
(86)
|
(221)
|
(89)
|
|
(160)
|
(316)
|
(183)
|
Attributable loss
|
(59)
|
|
(447)
|
(71)
|
(170)
|
(86)
|
|
(75)
|
(271)
|
(174)
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Risk weighted assets
|
20.2
|
|
19.0
|
16.8
|
16.4
|
15.6
|
|
14.7
|
14.3
|
14.5
|
Period end allocated tangible equity
|
3.0
|
|
3.6
|
2.0
|
(0.5)
|
1.1
|
|
0.7
|
(2.6)
|
1.9
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
2.8
|
|
2.7
|
0.7
|
0.5
|
1.2
|
|
(1.6)
|
0.5
|
2.5
|
Margins and balances
|
||||||
|
Three months ended 31.03.24
|
Three months ended 31.03.23
|
||||
|
Net interest income
|
Average customer assets
|
Net interest margin
|
Net interest income
|
Average customer assets
|
Net interest margin
|
|
£m
|
£m
|
%
|
£m
|
£m
|
%
|
Barclays UK
|
1,549
|
201,669
|
3.09
|
1,618
|
206,241
|
3.18
|
Barclays UK Corporate Bank
|
277
|
22,257
|
5.00
|
310
|
23,151
|
5.42
|
Barclays Private Bank and Wealth Management
|
175
|
13,593
|
5.17
|
181
|
14,445
|
5.08
|
Barclays US Consumer Bank
|
688
|
24,880
|
11.12
|
634
|
23,451
|
10.97
|
Group excluding IB and Head Office
|
2,689
|
262,399
|
4.12
|
2,743
|
267,288
|
4.16
|
Barclays Investment Bank
|
197
|
|
|
159
|
|
|
Head Office
|
186
|
|
|
150
|
|
|
Total Barclays Group net interest income
|
3,072
|
|
|
3,053
|
|
|
Quarterly analysis
|
|
|
|||
|
Q124
|
Q423
|
Q323
|
Q223
|
Q123
|
Net interest income
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
1,549
|
1,575
|
1,578
|
1,660
|
1,618
|
Barclays UK Corporate Bank
|
277
|
247
|
304
|
299
|
310
|
Barclays Private Bank and Wealth Management
|
175
|
182
|
219
|
186
|
181
|
Barclays US Consumer Bank
|
688
|
686
|
662
|
622
|
634
|
Group excluding IB and Head Office
|
2,689
|
2,690
|
2,763
|
2,767
|
2,743
|
|
|
|
|
|
|
Average customer assets
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
201,669
|
203,646
|
205,693
|
207,073
|
206,241
|
Barclays UK Corporate Bank
|
22,257
|
23,354
|
23,225
|
23,094
|
23,151
|
Barclays Private Bank and Wealth Management
|
13,593
|
13,525
|
13,594
|
14,173
|
14,445
|
Barclays US Consumer Bank
|
24,880
|
25,012
|
24,128
|
23,404
|
23,451
|
Group excluding IB and Head Office
|
262,399
|
265,537
|
266,640
|
267,744
|
267,288
|
|
|
|
|
|
|
Net interest margin
|
%
|
%
|
%
|
%
|
%
|
Barclays UK
|
3.09
|
3.07
|
3.04
|
3.22
|
3.18
|
Barclays UK Corporate Bank
|
5.00
|
4.19
|
5.19
|
5.19
|
5.42
|
Barclays Private Bank and Wealth Management
|
5.17
|
5.33
|
6.40
|
5.26
|
5.08
|
Barclays US Consumer Bank
|
11.12
|
10.88
|
10.88
|
10.66
|
10.97
|
Group excluding IB and Head Office
|
4.12
|
4.02
|
4.11
|
4.15
|
4.16
|
|
Gross exposure
|
|
Impairment allowance
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
As at 31.03.24
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Retail mortgages
|
144,156
|
20,168
|
1,702
|
166,026
|
|
41
|
79
|
94
|
214
|
Retail credit cards
|
8,214
|
2,083
|
200
|
10,497
|
|
115
|
475
|
97
|
687
|
Retail other
|
6,959
|
1,229
|
196
|
8,384
|
|
56
|
116
|
144
|
316
|
Corporate
loans1
|
52,204
|
8,264
|
1,618
|
62,086
|
|
179
|
214
|
336
|
729
|
Total UK
|
211,533
|
31,744
|
3,716
|
246,993
|
|
391
|
884
|
671
|
1,946
|
Retail mortgages
|
4,086
|
366
|
652
|
5,104
|
|
7
|
31
|
314
|
352
|
Retail credit cards
|
21,131
|
3,385
|
1,708
|
26,224
|
|
395
|
1,109
|
1,374
|
2,878
|
Retail other
|
1,560
|
79
|
202
|
1,841
|
|
3
|
1
|
27
|
31
|
Corporate loans
|
61,022
|
4,128
|
957
|
66,107
|
|
93
|
175
|
271
|
539
|
Total Rest of the World
|
87,799
|
7,958
|
3,519
|
99,276
|
|
498
|
1,316
|
1,986
|
3,800
|
Total loans and advances at amortised cost
|
299,332
|
39,702
|
7,235
|
346,269
|
|
889
|
2,200
|
2,657
|
5,746
|
Debt securities at amortised cost
|
53,478
|
3,941
|
—
|
57,419
|
|
10
|
10
|
—
|
20
|
Total loans and advances at amortised cost including debt
securities
|
352,810
|
43,643
|
7,235
|
403,688
|
|
899
|
2,210
|
2,657
|
5,766
|
Off-balance
sheet loan commitments and financial guarantee
contracts2
|
386,834
|
21,184
|
1,025
|
409,043
|
|
196
|
289
|
23
|
508
|
Total3,4
|
739,644
|
64,827
|
8,260
|
812,731
|
|
1,095
|
2,499
|
2,680
|
6,274
|
|
|
|
|
|
|
|
|
|
|
|
Net exposure
|
|
Coverage ratio
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
As at 31.03.24
|
£m
|
£m
|
£m
|
£m
|
|
%
|
%
|
%
|
%
|
Retail mortgages
|
144,115
|
20,089
|
1,608
|
165,812
|
|
—
|
0.4
|
5.5
|
0.1
|
Retail credit cards
|
8,099
|
1,608
|
103
|
9,810
|
|
1.4
|
22.8
|
48.5
|
6.5
|
Retail other
|
6,903
|
1,113
|
52
|
8,068
|
|
0.8
|
9.4
|
73.5
|
3.8
|
Corporate
loans1
|
52,025
|
8,050
|
1,282
|
61,357
|
|
0.3
|
2.6
|
20.8
|
1.2
|
Total UK
|
211,142
|
30,860
|
3,045
|
245,047
|
|
0.2
|
2.8
|
18.1
|
0.8
|
Retail mortgages
|
4,079
|
335
|
338
|
4,752
|
|
0.2
|
8.5
|
48.2
|
6.9
|
Retail credit cards
|
20,736
|
2,276
|
334
|
23,346
|
|
1.9
|
32.8
|
80.4
|
11.0
|
Retail other
|
1,557
|
78
|
175
|
1,810
|
|
0.2
|
1.3
|
13.4
|
1.7
|
Corporate loans
|
60,929
|
3,953
|
686
|
65,568
|
|
0.2
|
4.2
|
28.3
|
0.8
|
Total Rest of the World
|
87,301
|
6,642
|
1,533
|
95,476
|
|
0.6
|
16.5
|
56.4
|
3.8
|
Total loans and advances at amortised cost
|
298,443
|
37,502
|
4,578
|
340,523
|
|
0.3
|
5.5
|
36.7
|
1.7
|
Debt securities at amortised cost
|
53,468
|
3,931
|
—
|
57,399
|
|
—
|
0.3
|
—
|
—
|
Total loans and advances at amortised cost including debt
securities
|
351,911
|
41,433
|
4,578
|
397,922
|
|
0.3
|
5.1
|
36.7
|
1.4
|
Off-balance
sheet loan commitments and financial guarantee
contracts2
|
386,638
|
20,895
|
1,002
|
408,535
|
|
0.1
|
1.4
|
2.2
|
0.1
|
Total3,4
|
738,549
|
62,328
|
5,580
|
806,457
|
|
0.1
|
3.9
|
32.4
|
0.8
|
1
|
Includes Business Banking, which has a gross exposure of
£14.6bn and an impairment allowance of £411m. This
comprises £91m impairment allowance on £9.7bn Stage 1
exposure, £76m on £3.7bn Stage 2 exposure and £244m
on £1.3bn Stage 3 exposure. Excluding this, total coverage for
corporate loans in UK is 0.7%.
|
2
|
Excludes loan commitments and financial guarantees of £15.4bn
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
£220.1bn and impairment allowance of £150m. This
comprises £17m impairment allowance on £219.5bn Stage 1
exposure, £2m on £0.4bn Stage 2 exposure and £131m
on £141m Stage 3 exposure.
|
4
|
The annualised loan loss rate is 51bps after applying the total
impairment charge of £513m.
|
|
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
|
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
|
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 31.03.24
|
£m
|
£m
|
%
|
|
£m
|
£m
|
%
|
|
£m
|
£m
|
%
|
|
£m
|
£m
|
%
|
Retail credit cards
|
1,555
|
14
|
0.9
|
|
504
|
45
|
8.9
|
|
94
|
70
|
74.5
|
|
2,153
|
129
|
6.0
|
Retail other
|
1,432
|
20
|
1.4
|
|
285
|
36
|
12.6
|
|
82
|
58
|
70.7
|
|
1,799
|
114
|
6.3
|
Total Rest of the World
|
2,987
|
34
|
1.1
|
|
789
|
81
|
10.3
|
|
176
|
128
|
72.7
|
|
3,952
|
243
|
6.1
|
As at 31.12.23
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
|
Stage 2
|
|
|
|||
As at 31.03.24
|
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
|
148,242
|
17,741
|
1,992
|
801
|
20,534
|
2,354
|
171,130
|
Retail credit cards
|
29,345
|
4,759
|
394
|
315
|
5,468
|
1,908
|
36,721
|
Retail other
|
8,519
|
1,063
|
153
|
92
|
1,308
|
398
|
10,225
|
Corporate loans
|
113,226
|
12,095
|
149
|
148
|
12,392
|
2,575
|
128,193
|
Total
|
299,332
|
35,658
|
2,688
|
1,356
|
39,702
|
7,235
|
346,269
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Retail mortgages
|
48
|
75
|
17
|
18
|
110
|
408
|
566
|
Retail credit cards
|
510
|
1,224
|
164
|
196
|
1,584
|
1,471
|
3,565
|
Retail other
|
59
|
81
|
18
|
18
|
117
|
171
|
347
|
Corporate loans
|
272
|
372
|
8
|
9
|
389
|
607
|
1,268
|
Total
|
889
|
1,752
|
207
|
241
|
2,200
|
2,657
|
5,746
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Retail mortgages
|
148,194
|
17,666
|
1,975
|
783
|
20,424
|
1,946
|
170,564
|
Retail credit cards
|
28,835
|
3,535
|
230
|
119
|
3,884
|
437
|
33,156
|
Retail other
|
8,460
|
982
|
135
|
74
|
1,191
|
227
|
9,878
|
Corporate loans
|
112,954
|
11,723
|
141
|
139
|
12,003
|
1,968
|
126,925
|
Total
|
298,443
|
33,906
|
2,481
|
1,115
|
37,502
|
4,578
|
340,523
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Retail mortgages
|
—
|
0.4
|
0.9
|
2.2
|
0.5
|
17.3
|
0.3
|
Retail credit cards
|
1.7
|
25.7
|
41.6
|
62.2
|
29.0
|
77.1
|
9.7
|
Retail other
|
0.7
|
7.6
|
11.8
|
19.6
|
8.9
|
43.0
|
3.4
|
Corporate loans
|
0.2
|
3.1
|
5.4
|
6.1
|
3.1
|
23.6
|
1.0
|
Total
|
0.3
|
4.9
|
7.7
|
17.8
|
5.5
|
36.7
|
1.7
|
As at 31.12.23
|
|
|
|
|
|
|
|
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
|
Macroeconomic variables used in the calculation of ECL
|
|||||
As at 31.03.24
|
2024
|
2025
|
2026
|
2027
|
2028
|
Baseline
|
%
|
%
|
%
|
%
|
%
|
UK
GDP1
|
0.1
|
1.2
|
1.6
|
1.7
|
1.7
|
UK
unemployment2
|
4.6
|
4.6
|
4.6
|
4.7
|
4.9
|
UK
HPI3
|
(1.4)
|
0.8
|
3.4
|
3.7
|
3.7
|
UK bank rate
|
4.9
|
3.9
|
3.6
|
3.5
|
3.5
|
US
GDP1
|
1.9
|
1.6
|
1.9
|
1.9
|
1.9
|
US
unemployment4
|
4.1
|
4.2
|
4.2
|
4.2
|
4.2
|
US
HPI5
|
3.4
|
3.0
|
3.3
|
3.3
|
3.3
|
US federal funds rate
|
5.0
|
3.9
|
3.8
|
3.8
|
3.8
|
|
|
|
|
|
|
Downside 2
|
|
|
|
|
|
UK
GDP1
|
(0.9)
|
(3.4)
|
1.8
|
1.8
|
1.2
|
UK
unemployment2
|
4.7
|
7.4
|
6.6
|
5.4
|
5.1
|
UK
HPI3
|
(8.6)
|
(22.9)
|
9.7
|
13.9
|
7.0
|
UK bank rate
|
6.8
|
2.1
|
1.0
|
1.0
|
1.0
|
US
GDP1
|
1.0
|
(3.0)
|
2.6
|
2.3
|
1.7
|
US
unemployment4
|
4.6
|
6.9
|
6.1
|
5.2
|
4.9
|
US
HPI5
|
(2.5)
|
(9.2)
|
4.9
|
7.6
|
4.7
|
US federal funds rate
|
6.6
|
2.4
|
1.5
|
1.5
|
1.5
|
|
|
|
|
|
|
Downside 1
|
|
|
|
|
|
UK
GDP1
|
(0.4)
|
(1.2)
|
1.7
|
1.8
|
1.5
|
UK
unemployment2
|
4.6
|
6.0
|
5.6
|
5.1
|
5.0
|
UK
HPI3
|
(5.0)
|
(11.6)
|
6.5
|
8.7
|
5.4
|
UK bank rate
|
5.8
|
3.0
|
2.3
|
2.3
|
2.3
|
US
GDP1
|
1.4
|
(0.7)
|
2.2
|
2.1
|
1.8
|
US
unemployment4
|
4.4
|
5.5
|
5.2
|
4.7
|
4.6
|
US
HPI5
|
0.4
|
(3.2)
|
4.1
|
5.4
|
4.0
|
US federal funds rate
|
5.8
|
3.2
|
2.6
|
2.6
|
2.6
|
|
|
|
|
|
|
Upside 2
|
|
|
|
|
|
UK
GDP1
|
1.1
|
4.0
|
3.1
|
2.5
|
2.3
|
UK
unemployment2
|
4.1
|
3.6
|
3.6
|
3.6
|
3.6
|
UK
HPI3
|
8.0
|
11.0
|
5.8
|
3.4
|
3.0
|
UK bank rate
|
4.7
|
2.9
|
2.5
|
2.5
|
2.5
|
US
GDP1
|
2.7
|
3.2
|
2.8
|
2.8
|
2.8
|
US
unemployment4
|
3.7
|
3.6
|
3.5
|
3.5
|
3.5
|
US
HPI5
|
6.0
|
3.9
|
4.7
|
4.6
|
4.6
|
US federal funds rate
|
4.8
|
3.1
|
2.8
|
2.8
|
2.8
|
|
|
|
|
|
|
Upside 1
|
|
|
|
|
|
UK
GDP1
|
0.6
|
2.6
|
2.3
|
2.1
|
2.0
|
UK
unemployment2
|
4.3
|
4.1
|
4.1
|
4.2
|
4.3
|
UK
HPI3
|
3.3
|
5.8
|
4.6
|
3.6
|
3.3
|
UK bank rate
|
4.8
|
3.4
|
3.1
|
3.0
|
3.0
|
US
GDP1
|
2.3
|
2.4
|
2.4
|
2.4
|
2.4
|
US
unemployment4
|
3.9
|
3.9
|
3.9
|
3.9
|
3.9
|
US
HPI5
|
4.7
|
3.4
|
4.0
|
3.9
|
3.9
|
US federal funds rate
|
4.9
|
3.5
|
3.3
|
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 31.12.23
|
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.
|
Scenario probability weighting
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
|
%
|
%
|
%
|
%
|
%
|
As at 31.03.24
|
|
|
|
|
|
Scenario probability weighting
|
14.6
|
25.5
|
32.6
|
17.6
|
9.7
|
As at 31.12.23
|
|
|
|
|
|
Scenario probability weighting
|
13.8
|
24.7
|
32.4
|
18.3
|
10.8
|
Capital ratios1,2
|
As at 31.03.24
|
As at 31.12.23
|
CET1
|
13.5%
|
13.8%
|
T1
|
17.3%
|
17.7%
|
Total regulatory capital
|
19.6%
|
20.1%
|
MREL ratio as a percentage of total RWAs
|
33.4%
|
33.6%
|
|
|
|
Own funds and eligible liabilities
|
£m
|
£m
|
Total equity excluding non-controlling interests per the balance
sheet
|
71,680
|
71,204
|
Less: other equity instruments (recognised as AT1
capital)
|
(13,241)
|
(13,259)
|
Adjustment to retained earnings for foreseeable ordinary share
dividends
|
(1,123)
|
(795)
|
Adjustment to retained earnings for foreseeable repurchase of
shares
|
(796)
|
—
|
Adjustment to retained earnings for foreseeable other equity
coupons
|
(46)
|
(43)
|
|
|
|
Other regulatory adjustments and deductions
|
|
|
Additional value adjustments (PVA)
|
(1,834)
|
(1,901)
|
Goodwill and intangible assets
|
(7,807)
|
(7,790)
|
Deferred tax assets that rely on future profitability excluding
temporary differences
|
(1,558)
|
(1,630)
|
Fair value reserves related to gains or losses on cash flow
hedges
|
4,049
|
3,707
|
Excess of expected losses over impairment
|
(299)
|
(296)
|
Gains or losses on liabilities at fair value resulting from own
credit
|
378
|
136
|
Defined benefit pension fund assets
|
(2,509)
|
(2,654)
|
Direct and indirect holdings by an institution of own CET1
instruments
|
(3)
|
(20)
|
Adjustment under IFRS 9 transitional arrangements
|
137
|
288
|
Other regulatory adjustments
|
116
|
357
|
CET1 capital
|
47,144
|
47,304
|
|
|
|
AT1 capital
|
|
|
Capital instruments and related share premium accounts
|
13,263
|
13,263
|
Other regulatory adjustments and deductions
|
(22)
|
(60)
|
AT1 capital
|
13,241
|
13,203
|
|
|
|
T1 capital
|
60,385
|
60,507
|
|
|
|
T2 capital
|
|
|
Capital instruments and related share premium accounts
|
7,704
|
7,966
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries
|
401
|
569
|
Other regulatory adjustments and deductions
|
(35)
|
(160)
|
Total regulatory capital
|
68,455
|
68,882
|
|
|
|
Less : Ineligible T2 capital (including minority interests) issued
by subsidiaries
|
(401)
|
(569)
|
Eligible liabilities
|
48,770
|
46,995
|
|
|
|
Total own funds and eligible liabilities3
|
116,824
|
115,308
|
|
|
|
Total RWAs
|
349,635
|
342,717
|
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 13.4%,
with £47.0bn of CET1 capital and £349.6bn of RWAs
calculated without applying the transitional arrangements of the
CRR as amended by CRR II.
|
3
|
As at 31 March 2024, the Group's MREL requirement, excluding the
PRA buffer, was to hold £105.2bn 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 31.03.24
|
|
£m
|
|
|
Opening CET1 capital
|
47,304
|
|
|
|
|
Profit for the period attributable to equity holders
|
1,809
|
|
Own credit relating to derivative liabilities
|
19
|
|
Ordinary share dividends paid and foreseen
|
(328)
|
|
Purchased and foreseeable share repurchase
|
(1,000)
|
|
Other equity coupons paid and foreseen
|
(262)
|
|
Increase in retained regulatory capital generated from
earnings
|
238
|
|
|
|
|
Net impact of share schemes
|
(241)
|
|
Fair value through other comprehensive income reserve
|
(169)
|
|
Currency translation reserve
|
37
|
|
Other reserves
|
2
|
|
Decrease in other qualifying reserves
|
(371)
|
|
|
|
|
Pension remeasurements within reserves
|
(153)
|
|
Defined benefit pension fund asset deduction
|
145
|
|
Net impact of pensions
|
(8)
|
|
|
|
|
Additional value adjustments (PVA)
|
67
|
|
Goodwill and intangible assets
|
(17)
|
|
Deferred tax assets that rely on future profitability excluding
those arising from temporary differences
|
72
|
|
Excess of expected loss over impairment
|
(3)
|
|
Direct and indirect holdings by an institution of own CET1
instruments
|
17
|
|
Adjustment under IFRS 9 transitional arrangements
|
(151)
|
|
Other regulatory adjustments
|
(4)
|
|
Decrease in regulatory capital due to adjustments and
deductions
|
(19)
|
|
|
|
|
Closing CET1 capital
|
47,144
|
RWAs by risk type and business
|
|||||||||||||
|
Credit risk
|
|
Counterparty credit risk
|
|
Market Risk
|
|
Operational risk
|
Total RWAs
|
|||||
|
STD
|
IRB
|
|
STD
|
IRB
|
Settlement Risk
|
CVA
|
|
STD
|
IMA
|
|
|
|
As at 31.03.24
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
Barclays UK
|
10,220
|
54,103
|
|
184
|
—
|
—
|
109
|
|
190
|
—
|
|
11,715
|
76,521
|
Barclays UK Corporate Bank
|
3,453
|
13,966
|
|
105
|
364
|
—
|
34
|
|
2
|
484
|
|
3,024
|
21,432
|
Barclays Private Bank & Wealth Management
|
4,678
|
452
|
|
173
|
28
|
—
|
19
|
|
—
|
292
|
|
1,546
|
7,188
|
Barclays Investment Bank
|
39,230
|
53,204
|
|
20,182
|
23,437
|
48
|
2,789
|
|
13,727
|
23,631
|
|
24,179
|
200,427
|
Barclays US Consumer Bank
|
18,817
|
1,001
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
|
4,051
|
23,869
|
Head Office
|
6,409
|
12,535
|
|
1
|
18
|
—
|
4
|
|
1
|
187
|
|
1,043
|
20,198
|
Barclays Group
|
82,807
|
135,261
|
|
20,645
|
23,847
|
48
|
2,955
|
|
13,920
|
24,594
|
|
45,558
|
349,635
|
As at 31.12.23
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
10,472
|
50,761
|
|
178
|
—
|
—
|
94
|
|
274
|
—
|
|
11,715
|
73,494
|
Barclays UK Corporate Bank
|
3,458
|
13,415
|
|
262
|
167
|
—
|
14
|
|
2
|
541
|
|
3,024
|
20,883
|
Barclays Private Bank & Wealth Management
|
4,611
|
455
|
|
182
|
27
|
—
|
30
|
|
1
|
322
|
|
1,546
|
7,174
|
Barclays Investment Bank
|
37,749
|
52,190
|
|
18,512
|
21,873
|
159
|
3,248
|
|
14,623
|
24,749
|
|
24,179
|
197,282
|
Barclays US Consumer Bank
|
19,824
|
966
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
|
4,051
|
24,841
|
Head Office
|
6,772
|
10,951
|
|
1
|
21
|
—
|
6
|
|
1
|
248
|
|
1,043
|
19,043
|
Barclays Group
|
82,886
|
128,738
|
|
19,135
|
22,088
|
159
|
3,392
|
|
14,901
|
25,860
|
|
45,558
|
342,717
|
Movement analysis of RWAs
|
Credit risk
|
Counterparty credit risk
|
Market risk
|
Operational risk
|
Total RWAs
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Opening RWAs (as at 31.12.23)
|
211,624
|
44,774
|
40,761
|
45,558
|
342,717
|
Book size
|
2,968
|
2,567
|
(2,281)
|
—
|
3,254
|
Acquisitions and disposals
|
—
|
—
|
—
|
—
|
—
|
Book quality
|
(653)
|
(134)
|
—
|
—
|
(787)
|
Model updates
|
—
|
—
|
—
|
—
|
—
|
Methodology and policy
|
3,903
|
399
|
—
|
—
|
4,302
|
Foreign
exchange movements1
|
226
|
(111)
|
34
|
—
|
149
|
Total RWA movements
|
6,444
|
2,721
|
(2,247)
|
—
|
6,918
|
Closing RWAs (as at 31.03.24)
|
218,068
|
47,495
|
38,514
|
45,558
|
349,635
|
1
|
Foreign exchange movements does not include the impact of foreign
exchange for modelled market risk or operational risk.
|
Leverage ratios1,2
|
As at 31.03.24
|
As at 31.12.23
|
£m
|
£m
|
|
UK
leverage ratio3
|
4.9%
|
5.2%
|
T1 capital
|
60,385
|
60,507
|
UK leverage exposure
|
1,226,450
|
1,168,275
|
Average UK leverage ratio
|
4.7%
|
4.8%
|
Average T1 capital
|
60,466
|
60,343
|
Average UK leverage exposure
|
1,295,509
|
1,266,880
|
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 4.9%, with £60.2bn of T1 capital and £1,226.3bn of leverage exposure. Fully
loaded average UK leverage ratio was 4.7% with £60.3bn of T1 capital and £1,295.4bn 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
£6.4bn and against the
0.3% CCLB was
£3.7bn.
|
Condensed consolidated income statement (unaudited)
|
||
|
Three months ended 31.03.24
|
Three months ended 31.03.23
|
|
£m
|
£m
|
Total income
|
6,953
|
7,237
|
Operating expenses excluding litigation and conduct
|
(4,118)
|
(4,111)
|
Litigation and conduct
|
(57)
|
1
|
Operating expenses
|
(4,175)
|
(4,110)
|
Other net income/(expenses)
|
12
|
(5)
|
Profit before impairment
|
2,790
|
3,122
|
Credit impairment charges
|
(513)
|
(524)
|
Profit before tax
|
2,277
|
2,598
|
Tax charge
|
(465)
|
(561)
|
Profit after tax
|
1,812
|
2,037
|
|
|
|
Attributable to:
|
|
|
Shareholders of the parent
|
1,550
|
1,783
|
Other equity holders
|
259
|
246
|
Equity holders of the parent
|
1,809
|
2,029
|
Non-controlling interests
|
3
|
8
|
Profit after tax
|
1,812
|
2,037
|
|
|
|
Earnings per share
|
|
|
Basic earnings per ordinary share
|
10.3p
|
11.3p
|
|
|
|
Condensed consolidated balance sheet (unaudited)
|
||
|
As at 31.03.24
|
As at 31.12.23
|
Assets
|
£m
|
£m
|
Cash and balances at central banks
|
251,267
|
224,634
|
Cash collateral and settlement balances
|
137,467
|
108,889
|
Debt securities at amortised cost
|
57,399
|
56,749
|
Loans and advances at amortised cost to banks
|
8,471
|
9,459
|
Loans and advances at amortised cost to customers
|
332,052
|
333,288
|
Reverse repurchase agreements and other similar secured lending at
amortised cost
|
2,860
|
2,594
|
Trading portfolio assets
|
195,542
|
174,605
|
Financial assets at fair value through the income
statement
|
228,724
|
206,651
|
Derivative financial instruments
|
250,869
|
256,836
|
Financial assets at fair value through other comprehensive
income
|
78,180
|
71,836
|
Investments in associates and joint ventures
|
872
|
879
|
Goodwill and intangible assets
|
7,813
|
7,794
|
Current tax assets
|
252
|
121
|
Deferred tax assets
|
6,165
|
5,960
|
Other assets
|
19,185
|
17,192
|
Total assets
|
1,577,118
|
1,477,487
|
|
|
|
Liabilities
|
|
|
Deposits at amortised cost from banks
|
23,525
|
14,472
|
Deposits at amortised cost from customers
|
528,794
|
524,317
|
Cash collateral and settlement balances
|
132,604
|
94,084
|
Repurchase agreements and other similar secured borrowings at
amortised cost
|
42,848
|
41,601
|
Debt securities in issue
|
108,247
|
96,825
|
Subordinated liabilities
|
10,543
|
10,494
|
Trading portfolio liabilities
|
69,951
|
58,669
|
Financial liabilities designated at fair value
|
326,195
|
297,539
|
Derivative financial instruments
|
241,815
|
250,044
|
Current tax liabilities
|
650
|
529
|
Deferred tax liabilities
|
22
|
22
|
Other liabilities
|
19,584
|
17,027
|
Total liabilities
|
1,504,778
|
1,405,623
|
|
|
|
Equity
|
|
|
Called up share capital and share premium
|
4,302
|
4,288
|
Other reserves
|
(733)
|
(77)
|
Retained earnings
|
54,870
|
53,734
|
Shareholders' equity attributable to ordinary shareholders of the
parent
|
58,439
|
57,945
|
Other equity instruments
|
13,241
|
13,259
|
Total equity excluding non-controlling interests
|
71,680
|
71,204
|
Non-controlling interests
|
660
|
660
|
Total equity
|
72,340
|
71,864
|
|
|
|
Total liabilities and equity
|
1,577,118
|
1,477,487
|
Condensed consolidated statement of changes in equity
(unaudited)
|
|||||||
|
Called up share capital and share premium
|
Other equity instruments
|
Other reserves
|
Retained earnings
|
Total
|
Non-controlling interests
|
Total equity
|
Three months ended 31.03.2024
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Balance as at 1 January 2024
|
4,288
|
13,259
|
(77)
|
53,734
|
71,204
|
660
|
71,864
|
Profit after tax
|
—
|
259
|
—
|
1,550
|
1,809
|
3
|
1,812
|
Retirement benefit remeasurements
|
—
|
—
|
—
|
(153)
|
(153)
|
—
|
(153)
|
Other comprehensive profit after tax for the period
|
—
|
—
|
(696)
|
—
|
(696)
|
—
|
(696)
|
Total comprehensive income for the period
|
—
|
259
|
(696)
|
1,397
|
960
|
3
|
963
|
Employee share schemes and hedging thereof
|
40
|
—
|
—
|
417
|
457
|
—
|
457
|
Other equity instruments coupon paid
|
—
|
(259)
|
—
|
—
|
(259)
|
—
|
(259)
|
Vesting of employee share schemes
|
—
|
—
|
14
|
(476)
|
(462)
|
—
|
(462)
|
Dividends paid
|
—
|
—
|
—
|
—
|
—
|
(3)
|
(3)
|
Repurchase of shares
|
(26)
|
—
|
26
|
(205)
|
(205)
|
—
|
(205)
|
Other movements
|
—
|
(18)
|
—
|
3
|
(15)
|
—
|
(15)
|
Balance as at 31 March 2024
|
4,302
|
13,241
|
(733)
|
54,870
|
71,680
|
660
|
72,340
|
|
As at 31.03.24
|
As at 31.12.23
|
Other Reserves
|
£m
|
£m
|
Currency translation reserve
|
3,708
|
3,671
|
Fair value through other comprehensive income reserve
|
(1,535)
|
(1,366)
|
Cash flow hedging reserve
|
(4,048)
|
(3,707)
|
Own credit reserve
|
(463)
|
(240)
|
Other reserves and treasury shares
|
1,605
|
1,565
|
Total
|
(733)
|
(77)
|
Measure
|
Definition
|
Loan: deposit ratio
|
Total loans and advances at amortised cost divided by total
deposits at amortised cost.
|
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% (2023: 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)
|
Annualised
Group attributable profit, as a proportion of average tangible
shareholders’ equity. The components of the calculation have
been included on pages 40 to
41.
|
Return on average allocated tangible equity (for
businesses)
|
Annualised
business attributable profit, as a proportion of that business's
average allocated tangible equity. The components of the
calculation have been included on pages 40 to 42.
|
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 regulatory levies.
|
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
|
Annualised
net interest income divided by the sum of average customer assets.
The components of the calculation have been included on page
23.
|
Tangible net asset value per share
|
Calculated
by dividing shareholders’ equity, excluding non-controlling
interests and other equity instruments, less goodwill and
intangible assets, by the number of issued ordinary shares. The
components of the calculation have been included on page
43.
|
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.
|
Group
net interest income excluding Barclays Investment Bank and Head
Office
|
A
measure of Barclays Group net interest income, excluding the net
interest income reported in Barclays Investment Bank and Head
Office.
|
|
Three months ended 31.03.24
|
|
|||||
|
Barclays UK
|
Barclays UK Corporate Bank
|
Barclays Private Bank and Wealth Management
|
Barclays Investment Bank
|
Barclays US Consumer Bank
|
Head Office
|
Barclays Group
|
Return on average tangible equity
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Attributable profit/(loss)
|
479
|
113
|
74
|
899
|
44
|
(59)
|
1,550
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Average equity
|
14.3
|
3.0
|
1.1
|
30.0
|
3.6
|
6.3
|
58.3
|
Average goodwill and intangibles
|
(3.9)
|
—
|
(0.1)
|
—
|
(0.3)
|
(3.5)
|
(7.8)
|
Average tangible equity
|
10.4
|
3.0
|
1.0
|
30.0
|
3.3
|
2.8
|
50.5
|
|
|
|
|
|
|
|
|
Return on average tangible equity
|
18.5%
|
15.2%
|
28.7%
|
12.0%
|
5.3%
|
n/m
|
12.3%
|
|
|
|
|
|
|
|
|
|
Three months ended 31.03.23
|
|
|||||
|
Barclays UK
|
Barclays UK Corporate Bank
|
Barclays Private Bank and Wealth Management
|
Barclays Investment Bank
|
Barclays US Consumer Bank
|
Head Office
|
Barclays Group
|
Return on average tangible equity
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Attributable profit/(loss)
|
515
|
157
|
90
|
1,048
|
59
|
(86)
|
1,783
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average equity
|
13.9
|
2.9
|
1.1
|
29.1
|
3.9
|
5.0
|
55.9
|
Average goodwill and intangibles
|
(3.6)
|
—
|
(0.1)
|
—
|
(0.8)
|
(3.8)
|
(8.3)
|
Average tangible equity
|
10.3
|
2.9
|
1.0
|
29.1
|
3.1
|
1.2
|
47.6
|
|
|
|
|
|
|
|
|
Return on average tangible equity
|
20.0%
|
21.7%
|
34.5%
|
14.4%
|
7.5%
|
n/m
|
15.0%
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
Q124
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Attributable profit/(loss)
|
1,550
|
|
(111)
|
1,274
|
1,328
|
1,783
|
|
1,036
|
1,512
|
1,071
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Average shareholders' equity
|
58.3
|
|
57.1
|
55.1
|
55.4
|
55.9
|
|
54.9
|
56.8
|
57.1
|
Average goodwill and intangibles
|
(7.8)
|
|
(8.2)
|
(8.6)
|
(8.7)
|
(8.3)
|
|
(8.2)
|
(8.2)
|
(8.1)
|
Average tangible shareholders' equity
|
50.5
|
|
48.9
|
46.5
|
46.7
|
47.6
|
|
46.7
|
48.6
|
49.0
|
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
12.3%
|
|
(0.9)%
|
11.0%
|
11.4%
|
15.0%
|
|
8.9%
|
12.5%
|
8.7%
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q124
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Attributable profit
|
479
|
|
382
|
531
|
534
|
515
|
|
474
|
549
|
458
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
14.3
|
|
14.1
|
14.0
|
14.2
|
13.9
|
|
13.7
|
13.5
|
13.6
|
Average goodwill and intangibles
|
(3.9)
|
|
(3.9)
|
(3.9)
|
(4.0)
|
(3.6)
|
|
(3.5)
|
(3.6)
|
(3.6)
|
Average allocated tangible equity
|
10.4
|
|
10.2
|
10.1
|
10.2
|
10.3
|
|
10.2
|
9.9
|
10.0
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
18.5%
|
|
14.9%
|
21.0%
|
20.9%
|
20.0%
|
|
18.7%
|
22.1%
|
18.4%
|
Barclays UK Corporate Bank
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q124
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Attributable profit
|
113
|
|
59
|
129
|
239
|
157
|
|
131
|
172
|
166
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
3.0
|
|
2.8
|
2.8
|
2.9
|
2.9
|
|
2.9
|
2.9
|
3.0
|
Average goodwill and intangibles
|
—
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
—
|
Average allocated tangible equity
|
3.0
|
|
2.8
|
2.8
|
2.9
|
2.9
|
|
2.9
|
2.9
|
3.0
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
15.2%
|
|
8.4%
|
18.3%
|
32.9%
|
21.7%
|
|
17.8%
|
23.4%
|
22.3%
|
Barclays Private Bank and Wealth Management
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q124
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Attributable profit
|
74
|
|
47
|
102
|
91
|
90
|
|
92
|
108
|
85
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
1.1
|
|
1.1
|
1.1
|
1.1
|
1.1
|
|
1.2
|
1.1
|
1.1
|
Average goodwill and intangibles
|
(0.1)
|
|
(0.1)
|
(0.1)
|
(0.1)
|
(0.1)
|
|
(0.1)
|
(0.1)
|
(0.1)
|
Average allocated tangible equity
|
1.0
|
|
1.0
|
1.0
|
1.0
|
1.0
|
|
1.1
|
1.0
|
1.0
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
28.7%
|
|
19.1%
|
41.2%
|
35.9%
|
34.5%
|
|
34.9%
|
41.7%
|
33.5%
|
Barclays Investment Bank
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q124
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Attributable profit/(loss)
|
899
|
|
(149)
|
580
|
562
|
1,048
|
|
313
|
847
|
418
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
30.0
|
|
28.9
|
28.8
|
29.0
|
29.1
|
|
30.9
|
31.2
|
29.9
|
Average goodwill and intangibles
|
—
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
—
|
Average allocated tangible equity
|
30.0
|
|
28.9
|
28.8
|
29.0
|
29.1
|
|
30.9
|
31.2
|
29.9
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
12.0%
|
|
(2.1)%
|
8.0%
|
7.7%
|
14.4%
|
|
4.0%
|
10.9%
|
5.6%
|
Barclays US Consumer Bank
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q124
|
|
Q423
|
Q323
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Attributable profit/(loss)
|
44
|
|
(3)
|
3
|
72
|
59
|
|
101
|
107
|
118
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
3.6
|
|
3.6
|
3.8
|
3.9
|
3.9
|
|
4.1
|
4.0
|
3.4
|
Average goodwill and intangibles
|
(0.3)
|
|
(0.3)
|
(0.7)
|
(0.8)
|
(0.8)
|
|
(0.9)
|
(0.9)
|
(0.8)
|
Average allocated tangible equity
|
3.3
|
|
3.3
|
3.1
|
3.1
|
3.1
|
|
3.2
|
3.1
|
2.6
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
5.3%
|
|
(0.3)%
|
0.4%
|
9.3%
|
7.5%
|
|
12.6%
|
13.9%
|
18.2%
|
Tangible net asset value per share
|
As at 31.03.24
|
As at 31.12.23
|
As at 31.03.23
|
|
£m
|
£m
|
£m
|
Total equity excluding non-controlling interests
|
71,680
|
71,204
|
69,699
|
Other equity instruments
|
(13,241)
|
(13,259)
|
(13,784)
|
Goodwill and intangibles
|
(7,813)
|
(7,794)
|
(8,664)
|
Tangible shareholders' equity attributable to ordinary shareholders
of the parent
|
50,626
|
50,151
|
47,251
|
|
|
|
|
|
m
|
m
|
m
|
Shares in issue
|
15,091
|
15,155
|
15,701
|
|
|
|
|
|
p
|
p
|
p
|
Tangible net asset value per share
|
335
|
331
|
301
|
Results timetable1
|
|
|
Date
|
|
|
|
2024 Interim Results Announcement
|
|
|
1 August 2024
|
|
||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
|
|
% Change3
|
|
Exchange rates2
|
31.03.24
|
31.12.23
|
31.03.23
|
|
31.12.23
|
31.03.23
|
Period end - USD/GBP
|
1.26
|
1.28
|
1.23
|
|
(2)%
|
2%
|
3 month average - USD/GBP
|
1.27
|
1.24
|
1.22
|
|
2%
|
4%
|
Period end - EUR/GBP
|
1.17
|
1.15
|
1.14
|
|
2%
|
3%
|
3 month average - EUR/GBP
|
1.17
|
1.15
|
1.13
|
|
2%
|
4%
|
|
|
|
|
|
|
|
Share price data
|
|
|
|
|
|
|
Barclays PLC (p)
|
183.20
|
153.78
|
145.80
|
|
|
|
Barclays
PLC number of shares (m)4
|
15,091
|
15,155
|
15,701
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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)5.
|
|
|||||
|
|
|
|
|
|
|
American Depositary Receipts (ADRs)
|
|
|
|
|
|
|
EQ Shareowner Services
|
||||||
P.O. Box 64504
|
||||||
St. Paul, MN 55164-0504
|
||||||
United States of America
|
||||||
shareowneronline.com
|
|
|
|
|
|
|
Toll Free Number: +1 800-990-1135
|
|
|
|
|
|
|
Outside the US +1 651-453-2128
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delivery of ADR certificates and overnight mail
|
|
|
|
|
|
|
EQ Shareowner Services, 1110 Centre Pointe Curve, Suite 101,
Mendota Heights, MN 55120-4100, USA.
|
1
|
Note that this date is provisional and subject to
change.
|
2
|
The average rates shown above are derived from daily spot rates
during the year.
|
3
|
The change is the impact to GBP reported information.
|
4
|
The number of shares of 15,091m as at 31 March 2024 is different
from the 15,080m quoted in the 2 April 2024 announcement entitled
"Total Voting Rights" because the share buyback transactions
executed on 27 and 28 March 2024 did not settle until 2 April 2024
and 3 April 2024 respectively.
|
5
|
Lines open 8.30am to 5.30pm (UK time), Monday to Friday, excluding
UK public holidays in England and Wales.
|