|
BARCLAYS
BANK PLC
|
|
(Registrant)
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|
By:
/s/ Karen
Rowe
--------------------------------
|
|
Karen
Rowe
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|
Assistant
Secretary
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|
Results Announcement
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Page
|
|
Notes
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1
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|
Financial
Review
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2-3
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Risk Management
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|
●
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Risk
Management and Principal Risks
|
4
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●
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Credit
Risk
|
5-7
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●
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Market
Risk
|
8
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●
|
Treasury
and Capital Risk
|
9-10
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Statement of
Directors’ Responsibilities
|
11
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|
Independent
Review Report to Barclays Bank PLC
|
12
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Condensed
Consolidated Financial Statements
|
13-18
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Financial
Statement Notes
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19-44
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|
Other
Information
|
45
|
Barclays Bank Group results
|
|
|
|
for the half year ended
|
30.06.19
|
30.06.18
|
|
|
£m
|
£m
|
% Change
|
Total income
|
7,122
|
7,253
|
(2)
|
Credit impairment charges and other provisions
|
(510)
|
(156)
|
|
Net operating income
|
6,612
|
7,097
|
(7)
|
Operating expenses
|
(4,842)
|
(4,757)
|
(2)
|
Litigation and conduct
|
(68)
|
(1,627)
|
96
|
Total operating expenses
|
(4,910)
|
(6,384)
|
23
|
Other net income
|
23
|
12
|
92
|
Profit before tax
|
1,725
|
725
|
238%
|
Tax charge1
|
(260)
|
(294)
|
12
|
Profit after tax in respect of continuing operations
|
1,465
|
431
|
|
Loss after tax in respect of discontinued operations
|
-
|
(47)
|
|
Non-controlling interests in respect of continuing
operations
|
-
|
1
|
|
Other equity instrument holders
|
(294)
|
(310)
|
5
|
Attributable profit
|
1,171
|
75
|
|
|
|
|
|
|
30.06.19
|
31.12.18
|
|
Balance sheet information
|
£bn
|
£bn
|
|
Cash and balances at central banks
|
123.6
|
136.4
|
|
Loans and advances at amortised cost
|
144.7
|
137.0
|
|
Trading portfolio assets
|
120.0
|
104.0
|
|
Financial assets at fair value through the income
statement
|
156.2
|
145.3
|
|
Derivative financial instrument assets
|
244.4
|
222.7
|
|
Deposits at amortised cost
|
215.1
|
199.3
|
|
Financial liabilities designated at fair value
|
229.9
|
217.7
|
|
Derivative financial instrument liabilities
|
243.0
|
219.6
|
|
|
|
|
|
|
30.06.19
|
31.12.18
|
|
Capital metric2,3
|
%
|
%
|
|
Common equity tier 1 (CET1) ratio
|
13.4
|
13.5
|
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to Additional Tier 1 (AT1) instruments has been recognised
in the tax charge of the income statement, whereas it was
previously recorded in retained earnings.
Comparatives have been restated, reducing the tax charge for H118
by £84m. Further detail can be found in Note 1 Basis of
preparation on pages 19 to 20.
|
2
|
Barclays Bank PLC is currently regulated by the Prudential
Regulation Authority (PRA) on a solo-consolidated basis. The
disclosure above provides a capital metric for Barclays Bank PLC
solo-consolidated. For further information,
refer to treasury and capital risk on page 10.
|
3
|
The CET1 ratio is calculated applying the transitional arrangement
of the Capital Requirements Regulation (CRR) as amended by the
Capital Requirements Regulation II (CRR II) applicable as at the
reporting date. This includes
IFRS 9 transitional arrangements. For further information on the
implementation of CRR II see page 10.
|
●
|
Profit
before tax increased 138% to £1,725m driven by lower losses in
Head Office of £330m (H118: £1,887m) due to a
non-recurrence of the settlement relating to RMBS with the DoJ.
This was partially offset by a £482m decrease in CIB to
£1,453m and £75m decrease in Consumer, Cards and Payments
to £602m
|
|
●
|
The 7%
appreciation of average USD against GBP positively impacted profits
and income, and adversely impacted credit impairment charges and
operating expenses
|
|
●
|
Total
income decreased 2% to £7,122m (H118:
£7,253m)
|
|
|
-
CIB income of
£5,149m decreased 4% driven by a 8% decline in Banking
reflecting the smaller Banking fee pool across the
industry1, a 6% decline in
Markets and by a 2% decline in Corporate
|
|
|
-
Consumer, Cards and
Payments income increased 3% to £2,193m reflecting balance
growth in the US cards business, partnership growth in merchant
acquiring, appreciation of USD against GBP,
offset by the non-recurrence of a £53m gain on the sale of a
US cards portfolio in H118
|
|
|
-
Head Office loss
decreased by 14% to £220m, driven by hedge accounting losses
that did not repeat, partially offset by a non-recurrence of prior
year gain of £155m from the settlement of
receivables relating to the Lehman Brothers
acquisition
|
|
●
|
Credit
impairment charges increased to £510m (H118:
£156m)
|
|
|
- CIB
credit impairment charges increased to £96m (H118: release of
£182m) due to the non-recurrence of favourable macroeconomic
forecast updates and single name releases in H118
|
|
|
-
Consumer, Cards and
Payments credit impairment charges increased to £396m (H118:
£343m) due to the non-recurrence of favourable macroeconomic
forecast updates in H118
|
|
●
|
Total operating
expenses decreased 23% to £4,910m (H118:
£6,384m)
|
|
|
- CIB
operating expenses are stable at £3,615m as variable
compensation accruals were reduced in response to performance in
Q119, partially offset by continued investment in the
business
|
|
|
-
Consumer, Cards and
Payments operating expenses increased 7% to £1,211m driven by
continued investment in US cards, merchant acquiring and
wealth
|
|
|
- Head
Office operating expenses decreased 95% to £84m due to a
non-recurrence of settlement relating to RMBS with the DoJ
|
|
●
|
H118
loss after tax in respect of discontinued operations of £47m
included the results of the three months ended 31 March 2018
relating to the UK banking business that was transferred to
Barclays Bank UK PLC
|
|
●
|
The
effective tax rate was 15.1%. This reflects a change in accounting
standards requiring tax relief on payments made under Additional
Tier 1 (AT1) instruments to be recognised in the income
statement
|
●
|
Trading
portfolio assets increased £16.0bn to £120.0bn due to
increased trading activity compared to year-end 2018
|
●
|
Derivative
financial instrument assets and liabilities increased £21.7bn
to £244.4bn and £23.4bn to £243.0bn respectively
driven by a decrease in major interest rate curves, principally in
the second quarter
|
●
|
Financial
assets at fair value through the income statement increased
£10.9bn to £156.2bn due to increased secured lending
compared to year-end 2018
|
●
|
Deposits
at amortised cost increased £15.8bn to £215.1bn due to
increased customer deposits
|
●
|
The
Barclays Bank PLC solo-consolidated CET1 ratio as at 30 June 2019
was 13.4%, which is above regulatory capital minimum
requirements
|
1
|
Data Source: Dealogic for period 1 January 2019 to 30 June
2019.
|
|
|
Stage 2
|
|
|
|||
As at 30.06.19
|
Stage 1
|
Not past due
|
<=30 days past due
|
>30 days past due
|
Total
|
Stage 3
|
Total1
|
Gross exposure
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Home
loans
|
11,262
|
614
|
60
|
92
|
766
|
1,183
|
13,211
|
Credit
cards, unsecured loans and other retail lending
|
31,753
|
4,227
|
305
|
290
|
4,822
|
2,057
|
38,632
|
Corporate
loans
|
86,126
|
7,695
|
595
|
1,000
|
9,290
|
1,136
|
96,552
|
Total
|
129,141
|
12,536
|
960
|
1,382
|
14,878
|
4,376
|
148,395
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Home
loans
|
28
|
26
|
11
|
10
|
47
|
318
|
393
|
Credit
cards, unsecured loans and other retail lending
|
349
|
563
|
105
|
143
|
811
|
1,423
|
2,583
|
Corporate
loans
|
122
|
225
|
18
|
6
|
249
|
384
|
755
|
Total
|
499
|
814
|
134
|
159
|
1,107
|
2,125
|
3,731
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Home
loans
|
11,234
|
588
|
49
|
82
|
719
|
865
|
12,818
|
Credit
cards, unsecured loans and other retail lending
|
31,404
|
3,664
|
200
|
147
|
4,011
|
634
|
36,049
|
Corporate
loans
|
86,004
|
7,470
|
577
|
994
|
9,041
|
752
|
95,797
|
Total
|
128,642
|
11,722
|
826
|
1,223
|
13,771
|
2,251
|
144,664
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Home
loans
|
0.2
|
4.2
|
18.3
|
10.9
|
6.1
|
26.9
|
3.0
|
Credit
cards, unsecured loans and other retail lending
|
1.1
|
13.3
|
34.4
|
49.3
|
16.8
|
69.2
|
6.7
|
Corporate
loans
|
0.1
|
2.9
|
3.0
|
0.6
|
2.7
|
33.8
|
0.8
|
Total
|
0.4
|
6.5
|
14.0
|
11.5
|
7.4
|
48.6
|
2.5
|
|
|
|
|
|
|
|
|
As at 31.12.18
|
|
|
|
|
|
|
|
Gross exposure
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Home
loans
|
11,486
|
663
|
50
|
147
|
860
|
1,194
|
13,540
|
Credit
cards, unsecured loans and other retail lending
|
29,548
|
4,381
|
305
|
240
|
4,926
|
2,078
|
36,552
|
Corporate
loans
|
81,555
|
7,480
|
315
|
443
|
8,238
|
917
|
90,710
|
Total
|
122,589
|
12,524
|
670
|
830
|
14,024
|
4,189
|
140,802
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Home
loans
|
26
|
29
|
9
|
9
|
47
|
307
|
380
|
Credit
cards, unsecured loans and other retail lending
|
356
|
694
|
118
|
160
|
972
|
1,433
|
2,761
|
Corporate
loans
|
107
|
214
|
11
|
11
|
236
|
359
|
702
|
Total
|
489
|
937
|
138
|
180
|
1,255
|
2,099
|
3,843
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Home
loans
|
11,460
|
634
|
41
|
138
|
813
|
887
|
13,160
|
Credit
cards, unsecured loans and other retail lending
|
29,192
|
3,687
|
187
|
80
|
3,954
|
645
|
33,791
|
Corporate
loans
|
81,448
|
7,266
|
304
|
432
|
8,002
|
558
|
90,008
|
Total
|
122,100
|
11,587
|
532
|
650
|
12,769
|
2,090
|
136,959
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Home
loans
|
0.2
|
4.4
|
18.0
|
6.1
|
5.5
|
25.7
|
2.8
|
Credit
cards, unsecured loans and other retail lending
|
1.2
|
15.8
|
38.7
|
66.7
|
19.7
|
69.0
|
7.6
|
Corporate
loans
|
0.1
|
2.9
|
3.5
|
2.5
|
2.9
|
39.1
|
0.8
|
Total
|
0.4
|
7.5
|
20.6
|
21.7
|
8.9
|
50.1
|
2.7
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Gross exposure for loans and advances at amortised
cost
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2019
|
122,589
|
14,024
|
4,189
|
140,802
|
Transfers from Stage 1
|
(4,661)
|
4,348
|
313
|
-
|
Transfers from Stage 2
|
3,540
|
(4,255)
|
715
|
-
|
Transfers from Stage 3
|
36
|
98
|
(134)
|
-
|
Business activity in the year
|
32,336
|
984
|
25
|
33,345
|
Net drawdowns and repayments
|
(2,880)
|
1,482
|
331
|
(1,067)
|
Final repayments
|
(21,819)
|
(1,803)
|
(415)
|
(24,037)
|
Disposals
|
-
|
-
|
(21)
|
(21)
|
Write-offs1
|
-
|
-
|
(627)
|
(627)
|
As at 30 June 2019
|
129,141
|
14,878
|
4,376
|
148,395
|
|
|
|
|
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Impairment allowance on loans and advances at amortised
cost
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2019
|
489
|
1,255
|
2,099
|
3,843
|
Transfers from Stage 1
|
(58)
|
51
|
7
|
-
|
Transfers from Stage 2
|
246
|
(456)
|
210
|
-
|
Transfers from Stage 3
|
1
|
7
|
(8)
|
-
|
Business activity in the year
|
95
|
39
|
5
|
139
|
Net re-measurement and movement due to exposure and risk parameter
changes
|
(243)
|
251
|
513
|
521
|
Final repayments
|
(31)
|
(40)
|
(53)
|
(124)
|
Disposals
|
-
|
-
|
(21)
|
(21)
|
Write-offs1
|
-
|
-
|
(627)
|
(627)
|
As at 30 June 20192
|
499
|
1,107
|
2,125
|
3,731
|
|
|
|
|
|
Reconciliation of ECL movement to impairment charge/(release) for
the period
|
|
|
|
|
|
|
|
|
£m
|
ECL movement excluding assets derecognised due to disposals and
write-offs
|
|
|
|
536
|
Post write-off recoveries1
|
|
|
|
(47)
|
Exchange and other adjustments
|
|
|
|
(7)
|
Impairment charge on loan commitments and financial
guarantees
|
|
|
|
22
|
Impairment charge on other financial assets2
|
|
|
|
6
|
Income statement charge/(release) for the period
|
|
|
|
510
|
1
|
In H119, gross write-offs amounted to
£627m (H118: £788m)
and post write-off recoveries amounted to £47m (H118: £43m). Net write-offs represent
gross write-offs less post write off recoveries and amounted to
£580m (H118:
£745m).
|
2
|
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,
accrued income and sundry
debtors.These
have a total gross exposure of £159.9bn (December 2018: £120.1bn) and impairment allowance of
£21m (December 2018:
£11m).
This comprises
£13m ECL (December 2018:
£9m) on
£159.4bn stage 1
assets
(December 2018:
£119.6bn) and
£3m (December 2018:
£2m) on
£0.5bn stage 2 fair value
through
other comprehensive income assets
(December 2018: £0.5bn)
and £5m (December 2018:
£0m) on
£5m stage 3
other
assets (December 2018:
£0m).
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Gross exposure for loan commitments and financial
guarantees
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2019
|
248,590
|
16,444
|
421
|
265,455
|
Net transfers between stages
|
(506)
|
142
|
364
|
-
|
Business activity in the year
|
44,043
|
1,538
|
9
|
45,590
|
Net drawdowns and repayments
|
(2,348)
|
997
|
(282)
|
(1,633)
|
Final repayments
|
(27,183)
|
(4,092)
|
(234)
|
(31,509)
|
As at 30 June 2019
|
262,596
|
15,029
|
278
|
277,903
|
|
|
|
|
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Impairment allowance on loan commitments and financial
guarantees
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2019
|
91
|
104
|
22
|
217
|
Net transfers between stages
|
8
|
(6)
|
(2)
|
-
|
Business activity in the year
|
26
|
25
|
7
|
58
|
Net re-measurement and movement due to exposure and risk parameter
changes
|
(17)
|
14
|
6
|
3
|
Final repayments
|
(15)
|
(26)
|
(1)
|
(42)
|
As at 30 June 2019
|
93
|
111
|
32
|
236
|
Management VaR (95%) by asset
class1
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
Half year ended 30.06.19
|
|
Half year ended 31.12.18
|
|
Half year ended
30.06.182
|
||||||
|
Average
|
High3
|
Low3
|
|
Average
|
High3
|
Low3
|
|
Average
|
High3
|
Low3
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Credit risk
|
11
|
14
|
8
|
|
10
|
13
|
8
|
|
11
|
16
|
8
|
Interest rate risk
|
5
|
9
|
3
|
|
8
|
14
|
3
|
|
9
|
18
|
4
|
Equity risk
|
9
|
16
|
5
|
|
7
|
14
|
4
|
|
7
|
12
|
4
|
Basis risk
|
7
|
9
|
6
|
|
7
|
8
|
6
|
|
5
|
7
|
4
|
Spread risk
|
4
|
5
|
3
|
|
6
|
9
|
3
|
|
5
|
9
|
3
|
Foreign exchange risk
|
3
|
5
|
2
|
|
3
|
5
|
1
|
|
3
|
7
|
2
|
Commodity risk
|
1
|
1
|
-
|
|
1
|
1
|
-
|
|
1
|
2
|
-
|
Inflation risk
|
2
|
3
|
2
|
|
3
|
3
|
2
|
|
3
|
4
|
2
|
Diversification effect3
|
(21)
|
n/a
|
n/a
|
|
(24)
|
n/a
|
n/a
|
|
(24)
|
n/a
|
n/a
|
Total management VaR
|
21
|
26
|
16
|
|
21
|
27
|
17
|
|
20
|
27
|
15
|
1
|
Excludes Barclays Africa Group Limited from 23 July
2018.
|
2
|
Includes the UK banking business for the three months ended 31
March 2018.
|
3
|
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.
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
|
£bn
|
£bn
|
Barclays Bank Group liquidity pool
|
191
|
182
|
|
|
|
|
%
|
%
|
Barclays Bank PLC DoLSub liquidity coverage ratio
|
141
|
147
|
|
|
|
Capital ratios1, 2,
3
|
As at
30.06.19
|
As at
31.12.18
|
CET1
|
13.4%
|
13.5%
|
Tier 1 (T1)
|
18.1%
|
18.4%
|
Total regulatory capital
|
21.6%
|
22.2%
|
Capital resources
|
£bn
|
£bn
|
CET1 capital
|
22.4
|
23.4
|
T1 capital
|
30.2
|
31.9
|
Total regulatory capital
|
36.0
|
38.4
|
|
|
|
Total risk weighted assets (RWAs)
|
166.7
|
173.2
|
Leverage ratio1,
4
|
£bn
|
£bn
|
CRR leverage ratio
|
3.8%
|
4.0%
|
T1 capital
|
30.2
|
31.9
|
CRR leverage exposure
|
801
|
791
|
1
|
Capital, RWAs and leverage are calculated applying the transitional
arrangements of the CRR as amended by CRR II applicable as at the
reporting date.
This includes IFRS 9 transitional arrangements and the
grandfathering of CRR and CRR II non-compliant capital
instruments.
|
2
|
The fully loaded CET1 ratio was 13.1%, with £21.8bn of CET1
capital and £166.1bn of RWAs calculated without applying the
transitional arrangements of the
CRR as amended by CRR II applicable as at the reporting
date.
|
3
|
The Barclays PLC CET1 ratio, as is relevant for assessing against
the conversion trigger in Barclays Bank PLC Tier 2 Contingent
Capital Notes, was 13.4%.
For this calculation CET1 capital and RWAs are calculated applying
the transitional arrangements under the CRR, including the IFRS 9
transitional arrangements.
The benefit of the
Financial Services Authority (FSA) October 2012 interpretation of
the transitional provisions, relating to the implementation of CRD
IV,
expired in December 2017.
|
4
|
No binding leverage minimum requirement has been set for Barclays
Bank PLC solo-consolidated and it is only required to disclose a
CRR leverage ratio.
To aid comparability with leverage disclosure for other Barclays
Group entities, the UK spot leverage ratio would be higher than the
disclosed CRR leverage
ratio taking into
account the exemption of qualifying central bank claims in the UK
leverage exposure.
|
●
|
an indication of important events that have occurred during the six
months ended 30 June 2019 and their impact on the condensed
consolidated interim financial statements, and a description of the
principal risks and uncertainties for the remaining six months of
the financial year.
|
●
|
any related party transactions in the six months ended 30 June 2019
that have materially affected the financial position or performance
of Barclays Bank Group during that period and any changes in the
related party transactions described in the last Annual Report that
could have a material effect on the financial position or
performance of Barclays Bank Group in the six months ended 30 June
2019.
|
James E Staley
|
Steven Ewart
|
Barclays
Bank Group Chief Executive
|
Barclays
Bank Group Chief Financial Officer
|
Chairman
Nigel Higgins
|
Executive Directors
James E Staley
Steven Ewart
|
Non-executive Directors
Peter Bernard
Helen Keelan
Maria Richter
Jeremy Scott
Alex Thursby
Hélène Vletter-van Dort
|
●
|
the
condensed consolidated income statement and condensed consolidated
statement of comprehensive income for the period then
ended;
|
●
|
the
condensed consolidated balance sheet as at 30 June
2019;
|
●
|
the
condensed consolidated statement of changes in equity for the
period then ended;
|
●
|
the
condensed consolidated cash flow statement for the period then
ended; and
|
●
|
the
related explanatory notes.
|
Condensed consolidated income statement (unaudited)
|
|||
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
|
30.06.19
|
30.06.18
|
Continuing operations
|
Notes1
|
£m
|
£m
|
Net interest income
|
|
1,821
|
1,501
|
Net fee and commission income
|
3
|
2,829
|
2,862
|
Net trading income
|
|
2,093
|
2,319
|
Net investment income
|
|
337
|
494
|
Other income
|
|
42
|
77
|
Total income
|
|
7,122
|
7,253
|
Credit impairment charges and other provisions
|
|
(510)
|
(156)
|
Net operating income
|
|
6,612
|
7,097
|
|
|
|
|
Staff costs
|
|
(2,354)
|
(2,438)
|
Infrastructure, administration and general expenses
|
|
(2,488)
|
(2,319)
|
Litigation and conduct
|
|
(68)
|
(1,627)
|
Operating expenses
|
|
(4,910)
|
(6,384)
|
|
|
|
|
Profit on disposal of undertakings and share of results of
associates and joint ventures
|
|
23
|
12
|
Profit before tax
|
|
1,725
|
725
|
Tax charge2
|
4
|
(260)
|
(294)
|
Profit after tax in respect of continuing operations
|
|
1,465
|
431
|
Loss after tax in respect of discontinued operations
|
|
-
|
(47)
|
Profit after tax
|
|
1,465
|
384
|
|
|
|
|
Attributable to:
|
|
|
|
Equity holders of the parent2
|
|
1,171
|
75
|
Other equity instrument holders
|
|
294
|
310
|
Total equity holders of the parent
|
|
1,465
|
385
|
Non-controlling interests in respect of continuing
operations
|
5
|
-
|
(1)
|
Profit after tax
|
|
1,465
|
384
|
1
|
For notes to the Financial Statements see pages 19 to
44.
|
2
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement,
whereas it was previously recorded in retained earnings.
Comparatives have been restated, reducing the tax charge for H118
by £84m.
Further detail can be found in Note 1,
Basis of preparation on pages 19 to 20.
|
Condensed consolidated statement of comprehensive income
(unaudited)
|
|||
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
|
30.06.19
|
30.06.18
|
|
Notes1
|
£m
|
£m
|
Profit after tax
|
|
1,465
|
384
|
Profit after tax in respect of continuing operations
|
|
1,465
|
431
|
Loss after tax in respect of discontinued operations
|
|
-
|
(47)
|
|
|
|
|
Other comprehensive income/(loss) that may be recycled to profit or
loss from
continuing
operations:2
|
|
|
|
Currency translation reserve
|
13
|
232
|
350
|
Fair value through other comprehensive income reserve
|
13
|
359
|
(221)
|
Cash flow hedging reserve
|
13
|
612
|
(403)
|
Other
|
|
-
|
10
|
Other comprehensive income/(loss) that may be recycled to profit or
loss from continuing operations
|
|
1,203
|
(264)
|
|
|
|
|
Other comprehensive (loss)/income not recycled to profit or loss
from continuing
operations:2
|
|
|
|
Retirement benefit remeasurements
|
10
|
(140)
|
(54)
|
Fair value through other comprehensive income reserve
|
13
|
-
|
(267)
|
Own credit
|
13
|
44
|
(73)
|
Other comprehensive loss not recycled to profit or loss from
continuing operations
|
|
(96)
|
(394)
|
|
|
|
|
Other comprehensive income/(loss) for the period from continuing
operations
|
|
1,107
|
(658)
|
|
|
|
|
Other comprehensive loss for the period from discontinued
operations
|
|
-
|
(3)
|
|
|
|
|
Total comprehensive income/(loss) for the period:
|
|
|
|
Total comprehensive income/(loss) for the period, net of tax from
continuing operations
|
|
2,572
|
(227)
|
Total comprehensive loss for the period, net of tax from
discontinued operations
|
|
-
|
(50)
|
Total comprehensive income/(loss) for the period
|
|
2,572
|
(277)
|
|
|
|
|
Attributable to:
|
|
|
|
Equity holders of the parent
|
|
2,572
|
(276)
|
Non-controlling interests
|
|
-
|
(1)
|
Total comprehensive income/(loss) for the period
|
|
2,572
|
(277)
|
1
|
For notes to the Financial Statements see pages 19 to
44.
|
2
|
Reported net of tax.
|
Condensed consolidated balance sheet (unaudited)
|
|||
|
|
As at
|
As at
|
|
|
30.06.19
|
31.12.18
|
Assets
|
Notes1
|
£m
|
£m
|
Cash and balances at central banks
|
|
123,629
|
136,359
|
Cash collateral and settlement balances
|
|
101,323
|
74,352
|
Loans and advances at amortised cost
|
|
144,664
|
136,959
|
Reverse repurchase agreements and other similar secured
lending
|
|
7,865
|
1,613
|
Trading portfolio assets
|
|
120,025
|
104,038
|
Financial assets at fair value through the income
statement
|
|
156,243
|
145,250
|
Derivative financial instruments
|
|
244,422
|
222,683
|
Financial assets at fair value through other comprehensive
income
|
|
55,856
|
44,994
|
Investments in associates and joint ventures
|
|
732
|
762
|
Goodwill and intangible assets
|
|
1,282
|
1,327
|
Property, plant and equipment2
|
|
1,628
|
947
|
Current tax assets
|
4
|
2,041
|
1,713
|
Deferred tax assets
|
4
|
2,677
|
2,970
|
Retirement benefit assets
|
10
|
1,875
|
1,768
|
Other assets
|
|
5,004
|
1,965
|
Total assets
|
|
969,266
|
877,700
|
|
|
|
|
Liabilities
|
|
|
|
Deposits at amortised cost
|
|
215,125
|
199,337
|
Cash collateral and settlement balances
|
|
93,723
|
67,736
|
Repurchase agreements and other similar secured
borrowing
|
|
5,992
|
7,378
|
Debt securities in issue
|
|
42,251
|
39,063
|
Subordinated liabilities
|
8
|
36,368
|
35,327
|
Trading portfolio liabilities
|
|
41,335
|
36,614
|
Financial liabilities designated at fair value
|
|
229,875
|
217,741
|
Derivative financial instruments
|
|
243,004
|
219,592
|
Current tax liabilities
|
4
|
613
|
621
|
Deferred tax liabilities
|
4
|
332
|
-
|
Retirement benefit liabilities
|
10
|
287
|
283
|
Other liabilities2
|
|
6,897
|
5,170
|
Provisions
|
9
|
854
|
1,127
|
Total liabilities
|
|
916,656
|
829,989
|
|
|
|
|
Equity
|
|
|
|
Called up share capital and share premium
|
11
|
2,348
|
2,348
|
Other reserves
|
13
|
4,608
|
3,361
|
Retained earnings
|
|
36,252
|
34,405
|
Shareholders' equity attributable to ordinary shareholders of the
parent
|
|
43,208
|
40,114
|
Other equity instruments
|
12
|
9,402
|
7,595
|
Total equity excluding non-controlling interests
|
|
52,610
|
47,709
|
Non-controlling interests
|
5
|
-
|
2
|
Total equity
|
|
52,610
|
47,711
|
|
|
|
|
Total liabilities and equity
|
|
969,266
|
877,700
|
1
|
For notes to the Financial Statements see pages 19 to
44.
|
2
|
Barclays Bank PLC adopted the accounting standard IFRS 16 on 1
January 2019. The impact on adoption was an increase in
property,
plant and equipment of £0.5bn, an increase in liabilities of
£0.5bn,
with no material impact on retained earnings.
|
Condensed consolidated statement of changes in equity
(unaudited)
|
|||||||
|
Called up share capital and share
premium1
|
Other equity
instruments1
|
Other reserves1
|
Retained earnings
|
Total
|
Non-controlling
interests2
|
Total equity
|
Half year ended 30.06.19
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Balance as at 1 January 2019
|
2,348
|
7,595
|
3,361
|
34,405
|
47,709
|
2
|
47,711
|
Profit after tax3
|
-
|
294
|
-
|
1,171
|
1,465
|
-
|
1,465
|
Currency translation movements
|
-
|
-
|
232
|
-
|
232
|
-
|
232
|
Fair value through other comprehensive income reserve
|
-
|
-
|
359
|
-
|
359
|
-
|
359
|
Cash flow hedges
|
-
|
-
|
612
|
-
|
612
|
-
|
612
|
Retirement benefit remeasurements
|
-
|
-
|
-
|
(140)
|
(140)
|
-
|
(140)
|
Own credit
|
-
|
-
|
44
|
-
|
44
|
-
|
44
|
Total comprehensive income for the period
|
-
|
294
|
1,247
|
1,031
|
2,572
|
-
|
2,572
|
Issue and exchange of other equity instruments
|
-
|
1,807
|
-
|
(11)
|
1,796
|
-
|
1,796
|
Other equity instruments coupons paid3
|
-
|
(294)
|
-
|
-
|
(294)
|
-
|
(294)
|
Equity settled share schemes
|
-
|
-
|
-
|
198
|
198
|
-
|
198
|
Vesting of Barclays PLC shares under equity settled share
schemes
|
-
|
-
|
-
|
(340)
|
(340)
|
-
|
(340)
|
Dividends paid
|
-
|
-
|
-
|
(27)
|
(27)
|
-
|
(27)
|
Capital contribution from Barclays PLC
|
-
|
-
|
-
|
995
|
995
|
-
|
995
|
Other movements
|
-
|
-
|
-
|
1
|
1
|
(2)
|
(1)
|
Balance as at 30 June 2019
|
2,348
|
9,402
|
4,608
|
36,252
|
52,610
|
-
|
52,610
|
|
|
|
|
|
|
|
|
Half year ended 31.12.18
|
|
|
|
|
|
|
|
Balance as at 1 July 2018
|
14,453
|
6,912
|
3,071
|
23,754
|
48,190
|
2
|
48,192
|
Profit after tax3
|
-
|
337
|
-
|
288
|
625
|
1
|
626
|
Currency translation movements
|
-
|
-
|
494
|
-
|
494
|
-
|
494
|
Fair value through other comprehensive income reserve
|
-
|
-
|
143
|
-
|
143
|
-
|
143
|
Cash flow hedges
|
-
|
-
|
96
|
-
|
96
|
-
|
96
|
Retirement benefit remeasurements
|
-
|
-
|
-
|
367
|
367
|
-
|
367
|
Own credit
|
-
|
-
|
131
|
-
|
131
|
-
|
131
|
Other
|
-
|
-
|
-
|
17
|
17
|
-
|
17
|
Total comprehensive income for the period
|
-
|
337
|
864
|
672
|
1,873
|
1
|
1,874
|
Issue and exchange of other equity instruments
|
-
|
683
|
-
|
(312)
|
371
|
-
|
371
|
Capital reorganisation
|
(12,092)
|
-
|
-
|
12,092
|
-
|
-
|
-
|
Other equity instruments coupons paid3
|
-
|
(337)
|
-
|
-
|
(337)
|
-
|
(337)
|
Redemption of preference shares
|
(13)
|
-
|
21
|
(2,048)
|
(2,040)
|
-
|
(2,040)
|
Equity to debt reclassification
|
-
|
-
|
(272)
|
-
|
(272)
|
-
|
(272)
|
Equity settled share schemes
|
-
|
-
|
-
|
165
|
165
|
-
|
165
|
Vesting of Barclays PLC shares under equity settled share
schemes
|
-
|
-
|
-
|
3
|
3
|
-
|
3
|
Dividends paid
|
-
|
-
|
-
|
(515)
|
(515)
|
-
|
(515)
|
Capital contribution from Barclays PLC
|
-
|
-
|
-
|
1,000
|
1,000
|
-
|
1,000
|
Net equity impact of intragroup transfers
|
-
|
-
|
(323)
|
(402)
|
(725)
|
-
|
(725)
|
Other movements
|
-
|
-
|
-
|
(4)
|
(4)
|
(1)
|
(5)
|
Balance as at 31 December 2018
|
2,348
|
7,595
|
3,361
|
34,405
|
47,709
|
2
|
47,711
|
1
|
Details of share capital, other equity instruments and other
reserves are shown on pages 33 to 34.
|
2
|
Details of non-controlling interests are shown on page
23.
|
3
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement,
whereas it was previously recorded in retained earnings.
Comparatives have been restated, increasing the profit after tax
for H218 by £91m.
Further detail can be found in Note 1, basis of preparation on
pages 19 to 20.
|
Condensed consolidated statement of changes in equity
(unaudited)
|
|||||||
|
Called up share capital and share
premium1
|
Other equity
instruments1
|
Other reserves1
|
Retained earnings
|
Total
|
Non-controlling
interests2
|
Total equity
|
Half year ended 30.06.18
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Balance as at 31 December 2017
|
14,453
|
8,982
|
3,808
|
38,490
|
65,733
|
1
|
65,734
|
Effects of changes in accounting policies
|
-
|
-
|
(136)
|
(2,014)
|
(2,150)
|
-
|
(2,150)
|
Balance as at 1 January 2018
|
14,453
|
8,982
|
3,672
|
36,476
|
63,583
|
1
|
63,584
|
Continuing operations
|
|
|
|
|
|
|
|
Profit after tax3
|
-
|
310
|
-
|
122
|
432
|
(1)
|
431
|
Currency translation movements
|
-
|
-
|
350
|
-
|
350
|
-
|
350
|
Fair value through other comprehensive income reserve
|
-
|
-
|
(488)
|
-
|
(488)
|
-
|
(488)
|
Cash flow hedges
|
-
|
-
|
(403)
|
-
|
(403)
|
-
|
(403)
|
Retirement benefit remeasurements
|
-
|
-
|
-
|
(54)
|
(54)
|
-
|
(54)
|
Own credit
|
-
|
-
|
(73)
|
-
|
(73)
|
-
|
(73)
|
Other
|
-
|
-
|
-
|
10
|
10
|
-
|
10
|
Total comprehensive income net of tax from continuing
operations
|
-
|
310
|
(614)
|
78
|
(226)
|
(1)
|
(227)
|
Total comprehensive income net of tax from discontinued
operations
|
-
|
-
|
(3)
|
(47)
|
(50)
|
-
|
(50)
|
Total comprehensive income for the period
|
-
|
310
|
(617)
|
31
|
(276)
|
(1)
|
(277)
|
Other equity instruments coupons paid3
|
-
|
(310)
|
-
|
-
|
(310)
|
-
|
(310)
|
Equity settled share schemes
|
-
|
-
|
-
|
208
|
208
|
-
|
208
|
Vesting of Barclays PLC shares under equity settled share
schemes
|
-
|
-
|
-
|
(421)
|
(421)
|
-
|
(421)
|
Dividends paid
|
-
|
-
|
-
|
(14,274)
|
(14,274)
|
-
|
(14,274)
|
Capital contribution from Barclays PLC
|
-
|
-
|
-
|
2,000
|
2,000
|
-
|
2,000
|
Net equity impact of intragroup transfers
|
-
|
(2,070)
|
16
|
(236)
|
(2,290)
|
-
|
(2,290)
|
Other movements
|
-
|
-
|
-
|
(30)
|
(30)
|
2
|
(28)
|
Balance as at 30 June 2018
|
14,453
|
6,912
|
3,071
|
23,754
|
48,190
|
2
|
48,192
|
1
|
Details of share capital, other equity instruments and other
reserves are shown on pages 33 to 34.
|
2
|
Details of non-controlling interests are shown on page
23.
|
3
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement,
whereas it was previously recorded in retained earnings.
Comparatives have been restated, increasing the profit after tax
for H118 by £84m.
Further detail can be found in Note 1, basis of preparation on
pages 19 to 20.
|
Condensed consolidated cash flow statement (unaudited)
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
|
30.06.19
|
30.06.18
|
Continuing operations
|
|
£m
|
£m
|
Profit before tax
|
|
1,725
|
725
|
Adjustment for non-cash items1
|
|
314
|
2,360
|
Changes in operating assets and liabilities2
|
|
(4,354)
|
(6,553)
|
Corporate income tax paid
|
|
(260)
|
(166)
|
Net cash from operating activities
|
|
(2,575)
|
(3,634)
|
Net cash transferred as part of the UK banking business
disposal2
|
|
-
|
(39,703)
|
Other investing activities
|
|
(9,094)
|
(6,030)
|
Net cash from investing activities
|
|
(9,094)
|
(45,733)
|
Net cash from financing activities1
|
|
2,552
|
(2,057)
|
Effect of exchange rates on cash and cash equivalents
|
|
652
|
404
|
Net decrease in cash and cash equivalents from continuing
operations
|
|
(8,465)
|
(51,020)
|
Net cash from discontinued operations
|
|
-
|
(468)
|
Net decrease in cash and cash equivalents
|
|
(8,465)
|
(51,488)
|
Cash and cash equivalents at beginning of the period
|
|
167,357
|
204,452
|
Cash and cash equivalents at end of the period
|
|
158,892
|
152,964
|
1
|
As at 30 June 2018, £120m was reclassified from net cash from
financing activities to adjustments for non-cash
items.
|
2
|
As at 30 June 2018, £2.4bn of cash equivalents were
reclassified from changes in operating assets and liabilities to
net cash transferred as part of the UK business banking
disposal.
|
1.
|
Basis of preparation
|
●
|
A lease
liability, measured at the present value of remaining cash flows on
the lease, and
|
●
|
A right
of use (ROU) asset, measured at the amount of the initial
measurement of the lease liability, plus any lease payments made
prior to commencement date, initial direct costs, and estimated
costs of restoring the underlying asset to the condition required
by the lease, less any lease incentives received.
|
●
|
To
calculate the right of use asset equal to the lease liability,
adjusted for prepaid or accrued payments.
|
●
|
To rely
on the previous assessment of whether leases are onerous in
accordance with IAS 37 immediately before the date of initial
application as an alternative to performing an impairment review.
The Barclays Bank Group adjusted the carrying amount of the ROU
asset at the date of initial application by the previous carrying
amount of its onerous lease provision.
|
●
|
To
apply the recognition exception for leases with a term not
exceeding 12 months.
|
●
|
To use
hindsight in determining the lease term if the contract contains
options to extend or terminate the lease.
|
2.
|
Segmental reporting
|
Analysis of results by business
|
|
|
|
|
|
Corporate and
Investment Bank
|
Consumer,
Cards and Payments
|
Head Office
|
Barclays Bank Group
|
Half year ended 30.06.19
|
£m
|
£m
|
£m
|
£m
|
Total income
|
5,149
|
2,193
|
(220)
|
7,122
|
Credit impairment charges and other provisions
|
(96)
|
(396)
|
(18)
|
(510)
|
Net operating income/(expenses)
|
5,053
|
1,797
|
(238)
|
6,612
|
Total operating expenses
|
(3,615)
|
(1,211)
|
(84)
|
(4,910)
|
Other net income/(expenses)1
|
15
|
16
|
(8)
|
23
|
Profit/(loss) before tax from continuing operations
|
1,453
|
602
|
(330)
|
1,725
|
|
|
|
|
|
As at 30.06.19
|
£bn
|
£bn
|
£bn
|
£bn
|
Total assets
|
882.1
|
73.1
|
14.1
|
969.3
|
|
Corporate and
Investment Bank
|
Consumer,
Cards and Payments
|
Head Office
|
Barclays Bank Group
|
Half year ended 30.06.18
|
£m
|
£m
|
£m
|
£m
|
Total income
|
5,373
|
2,137
|
(257)
|
7,253
|
Credit impairment releases/(charges) and other
provisions
|
182
|
(343)
|
5
|
(156)
|
Net operating income/(expenses)
|
5,555
|
1,794
|
(252)
|
7,097
|
Total operating expenses
|
(3,628)
|
(1,134)
|
(1,622)
|
(6,384)
|
Other net income/(expenses)1
|
8
|
17
|
(13)
|
12
|
Profit/(loss) before tax from continuing operations
|
1,935
|
677
|
(1,887)
|
725
|
|
|
|
|
|
As at 31.12.18
|
£bn
|
£bn
|
£bn
|
£bn
|
Total assets
|
792.5
|
71.6
|
13.6
|
877.7
|
1
|
Other net income/(expenses) represents the share of post-tax
results of associates and joint ventures, profit (or loss) on
disposal of subsidiaries, associates and joint ventures and gains
on acquisitions.
|
Split of income by geographic
region1
|
|
|
|
Half year ended
|
Half year ended
|
|
30.06.19
|
30.06.18
|
|
£m
|
£m
|
UK
|
2,000
|
2,118
|
Europe
|
863
|
1,026
|
Americas
|
3,825
|
3,735
|
Africa and Middle East
|
75
|
62
|
Asia
|
359
|
312
|
Total
|
7,122
|
7,253
|
1
|
The geographic region is based on counterparty
location.
|
3.
|
Fee and commission income
|
|
Corporate and
Investment Bank
|
Consumer,
Cards and Payments
|
Head Office
|
Total
|
Half year ended 30.06.19
|
£m
|
£m
|
£m
|
£m
|
Fee type
|
|
|
|
|
Transactional
|
185
|
1,168
|
-
|
1,353
|
Advisory
|
364
|
41
|
-
|
405
|
Brokerage and execution
|
512
|
24
|
-
|
536
|
Underwriting and syndication
|
1,240
|
-
|
-
|
1,240
|
Other
|
62
|
124
|
16
|
202
|
Total revenue from contracts with customers
|
2,363
|
1,357
|
16
|
3,736
|
Other non-contract fee income
|
54
|
-
|
-
|
54
|
Fee and commission income
|
2,417
|
1,357
|
16
|
3,790
|
Fee and commission expense
|
(350)
|
(611)
|
-
|
(961)
|
Net fee and commission income
|
2,067
|
746
|
16
|
2,829
|
|
Corporate and
Investment Bank
|
Consumer,
Cards and Payments
|
Head Office
|
Total
|
Half year ended 30.06.18
|
£m
|
£m
|
£m
|
£m
|
Fee type
|
|
|
|
|
Transactional
|
185
|
1,072
|
-
|
1,257
|
Advisory
|
340
|
37
|
-
|
377
|
Brokerage and execution
|
553
|
30
|
-
|
583
|
Underwriting and syndication
|
1,368
|
-
|
-
|
1,368
|
Other
|
3
|
78
|
16
|
97
|
Total revenue from contracts with customers
|
2,449
|
1,217
|
16
|
3,682
|
Other non-contract fee income
|
55
|
-
|
-
|
55
|
Fee and commission income
|
2,504
|
1,217
|
16
|
3,737
|
Fee and commission expense
|
(337)
|
(538)
|
-
|
(875)
|
Net fee and commission income
|
2,167
|
679
|
16
|
2,862
|
4.
|
Tax
|
|
Assets
|
|
Liabilities
|
||
|
As at
|
As at
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
|
30.06.19
|
31.12.18
|
Current and deferred tax assets and liabilities
|
£m
|
£m
|
|
£m
|
£m
|
Current tax
|
2,041
|
1,713
|
|
(613)
|
(621)
|
Deferred tax
|
2,677
|
2,970
|
|
(332)
|
-
|
Total
|
4,718
|
4,683
|
|
(945)
|
(621)
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
Deferred tax assets and liabilities
|
£m
|
£m
|
USA
|
2,293
|
2,541
|
UK
|
-
|
3
|
Other
|
384
|
426
|
Deferred tax assets
|
2,677
|
2,970
|
Deferred tax liabilities - UK
|
(332)
|
-
|
|
|
|
Analysis of deferred tax assets
|
|
|
Temporary differences
|
2,289
|
2,441
|
Tax losses
|
388
|
529
|
Deferred tax assets
|
2,677
|
2,970
|
5.
|
Non-controlling interests
|
|
Profit attributable
to non-controlling interests
|
|
Equity attributable
to non-controlling interests
|
||
|
Half year ended
|
Half year ended
|
|
As at
|
As at
|
|
30.06.19
|
30.06.18
|
|
30.06.19
|
31.12.18
|
|
£m
|
£m
|
|
£m
|
£m
|
Other non-controlling interests
|
-
|
(1)
|
|
-
|
2
|
6.
|
Dividends on ordinary shares
|
|
|
Half year ended 30.06.19
|
Half year ended 30.06.18
|
|
|
||
Dividends paid during the period
|
|
£m
|
£m
|
Ordinary shares1
|
|
-
|
14,168
|
Preference shares
|
|
27
|
106
|
Total
|
|
27
|
14,274
|
7.
|
Fair value of financial instruments
|
|
Valuation technique using
|
|
||
|
Quoted market prices
|
Observable inputs
|
Significant unobservable inputs
|
|
|
(Level 1)
|
(Level 2)
|
(Level 3)
|
Total
|
As at 30.06.19
|
£m
|
£m
|
£m
|
£m
|
Trading portfolio assets
|
58,369
|
58,108
|
3,548
|
120,025
|
Financial assets at fair value through the income
statement
|
10,586
|
141,970
|
3,687
|
156,243
|
Derivative financial instruments
|
6,004
|
232,717
|
5,701
|
244,422
|
Financial assets at fair value through other comprehensive
income
|
19,113
|
36,573
|
170
|
55,856
|
Investment property
|
-
|
-
|
8
|
8
|
Total assets
|
94,072
|
469,368
|
13,114
|
576,554
|
|
|
|
|
|
Trading portfolio liabilities
|
(24,439)
|
(16,890)
|
(6)
|
(41,335)
|
Financial liabilities designated at fair value
|
(98)
|
(229,493)
|
(284)
|
(229,875)
|
Derivative financial instruments
|
(5,728)
|
(232,477)
|
(4,799)
|
(243,004)
|
Total liabilities
|
(30,265)
|
(478,860)
|
(5,089)
|
(514,214)
|
|
|
|
|
|
As at 31.12.18
|
|
|
|
|
Trading portfolio assets
|
51,029
|
49,396
|
3,613
|
104,038
|
Financial assets at fair value through the income
statement
|
8,918
|
131,682
|
4,650
|
145,250
|
Derivative financial instruments
|
6,813
|
210,655
|
5,215
|
222,683
|
Financial assets at fair value through other comprehensive
income
|
15,751
|
28,888
|
355
|
44,994
|
Investment property
|
-
|
-
|
9
|
9
|
Total assets
|
82,511
|
420,621
|
13,842
|
516,974
|
|
|
|
|
|
Trading portfolio liabilities
|
(19,401)
|
(17,210)
|
(3)
|
(36,614)
|
Financial liabilities designated at fair value
|
(76)
|
(217,404)
|
(261)
|
(217,741)
|
Derivative financial liabilities
|
(6,152)
|
(208,697)
|
(4,743)
|
(219,592)
|
Total liabilities
|
(25,629)
|
(443,311)
|
(5,007)
|
(473,947)
|
|
|
|
|
|
|
Assets
|
Liabilities
|
||||
|
Valuation technique using
|
Valuation technique using
|
||||
|
Quoted
market prices
(Level 1)
|
Observable
inputs
(Level 2)
|
Significant
unobservable
inputs
(Level 3)
|
Quoted
market prices
(Level 1)
|
Observable
inputs
(Level 2)
|
Significant
unobservable
inputs
(Level 3)
|
As at 30.06.19
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Interest rate derivatives
|
-
|
152,892
|
2,320
|
-
|
(145,912)
|
(2,071)
|
Foreign exchange derivatives
|
-
|
56,187
|
209
|
-
|
(57,976)
|
(289)
|
Credit derivatives
|
-
|
11,565
|
1,448
|
-
|
(11,626)
|
(369)
|
Equity derivatives
|
6,004
|
10,871
|
1,711
|
(5,728)
|
(15,801)
|
(2,057)
|
Commodity derivatives
|
-
|
1,202
|
13
|
-
|
(1,162)
|
(13)
|
Government and government sponsored debt
|
46,619
|
56,909
|
2
|
(11,321)
|
(11,755)
|
-
|
Corporate debt
|
-
|
18,827
|
616
|
-
|
(5,671)
|
(6)
|
Certificates of deposit, commercial paper and other money market
instruments
|
-
|
554
|
-
|
-
|
(7,939)
|
(21)
|
Margin lending
|
-
|
15,306
|
-
|
-
|
(23,860)
|
-
|
Reverse repurchase and repurchase agreements
|
-
|
123,464
|
13
|
-
|
(148,870)
|
-
|
Non-asset backed loans
|
-
|
7,349
|
4,071
|
-
|
-
|
-
|
Asset backed securities
|
-
|
3,157
|
669
|
-
|
(28)
|
-
|
Issued debt
|
-
|
-
|
-
|
-
|
(47,402)
|
(263)
|
Equity cash products
|
41,347
|
10,190
|
357
|
(13,118)
|
(804)
|
-
|
Private equity investments
|
4
|
-
|
185
|
-
|
-
|
-
|
Other1
|
98
|
895
|
1,500
|
(98)
|
(54)
|
-
|
Total
|
94,072
|
469,368
|
13,114
|
(30,265)
|
(478,860)
|
(5,089)
|
|
|
|
|
|
|
|
As at 31.12.18
|
|
|
|
|
|
|
Interest rate derivatives
|
-
|
122,975
|
2,478
|
-
|
(118,231)
|
(2,456)
|
Foreign exchange derivatives
|
-
|
63,960
|
192
|
-
|
(63,897)
|
(185)
|
Credit derivatives
|
-
|
9,374
|
1,381
|
-
|
(9,188)
|
(331)
|
Equity derivatives
|
6,813
|
12,933
|
1,136
|
(6,152)
|
(16,001)
|
(1,743)
|
Commodity derivatives
|
-
|
1,413
|
28
|
-
|
(1,380)
|
(28)
|
Government and government sponsored debt
|
38,910
|
47,882
|
14
|
(8,143)
|
(11,154)
|
-
|
Corporate debt
|
-
|
14,529
|
456
|
-
|
(5,085)
|
-
|
Certificates of deposit, commercial paper and other money market
instruments
|
-
|
1,135
|
-
|
-
|
(8,556)
|
(10)
|
Margin lending
|
-
|
10,388
|
-
|
-
|
(26,875)
|
-
|
Reverse repurchase and repurchase agreements
|
-
|
118,623
|
768
|
-
|
(139,361)
|
-
|
Non-asset backed loans
|
-
|
7,378
|
4,452
|
-
|
-
|
-
|
Asset backed securities
|
-
|
2,265
|
688
|
-
|
(245)
|
-
|
Issued debt
|
-
|
-
|
-
|
-
|
(42,104)
|
(251)
|
Equity cash products
|
36,705
|
7,195
|
698
|
(11,258)
|
(1,181)
|
(3)
|
Private equity investments
|
7
|
-
|
190
|
-
|
-
|
-
|
Other1
|
76
|
571
|
1,361
|
(76)
|
(53)
|
-
|
Total
|
82,511
|
420,621
|
13,842
|
(25,629)
|
(443,311)
|
(5,007)
|
Level 3 movement analysis
|
||||||||||
|
Purchases
|
Sales
|
Issues
|
Settlements
|
Total gains and losses in the period recognised in the income
statement
|
Transfers
|
As at 30.06.19
|
|||
|
As at 01.01.19
|
Trading income
|
Other income
|
In
|
Out
|
|||||
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Government and government sponsored debt
|
14
|
2
|
-
|
-
|
-
|
-
|
-
|
-
|
(14)
|
2
|
Corporate debt
|
388
|
70
|
(24)
|
-
|
(31)
|
14
|
-
|
32
|
(74)
|
375
|
Non-asset backed loans
|
2,263
|
1,235
|
(1,260)
|
-
|
(19)
|
12
|
-
|
19
|
(90)
|
2,160
|
Asset backed securities
|
664
|
81
|
(127)
|
-
|
-
|
5
|
-
|
16
|
(29)
|
610
|
Equity cash products
|
136
|
48
|
(13)
|
-
|
-
|
(2)
|
-
|
116
|
(20)
|
265
|
Other
|
148
|
-
|
-
|
-
|
(1)
|
(10)
|
-
|
-
|
(1)
|
136
|
Trading portfolio assets
|
3,613
|
1,436
|
(1,424)
|
-
|
(51)
|
19
|
-
|
183
|
(228)
|
3,548
|
|
|
|
|
|
|
|
|
|
|
|
Non-asset backed loans
|
1,836
|
2
|
-
|
-
|
(132)
|
70
|
-
|
-
|
(1)
|
1,775
|
Equity cash products
|
559
|
9
|
-
|
-
|
(10)
|
4
|
178
|
-
|
-
|
740
|
Private equity investments
|
191
|
4
|
(3)
|
-
|
(1)
|
-
|
(6)
|
-
|
-
|
185
|
Other
|
2,064
|
2,334
|
(2,619)
|
-
|
(2)
|
17
|
9
|
24
|
(840)
|
987
|
Financial assets at fair value through the income
statement
|
4,650
|
2,349
|
(2,622)
|
-
|
(145)
|
91
|
181
|
24
|
(841)
|
3,687
|
|
|
|
|
|
|
|
|
|
|
|
Non-asset backed loans
|
353
|
48
|
-
|
-
|
(55)
|
-
|
-
|
-
|
(218)
|
128
|
Asset backed securities
|
-
|
40
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
40
|
Equity cash products
|
2
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
2
|
Financial assets at fair value through other comprehensive
income
|
355
|
88
|
-
|
-
|
(55)
|
-
|
-
|
-
|
(218)
|
170
|
|
|
|
|
|
|
|
|
|
|
|
Investment property
|
9
|
-
|
-
|
-
|
-
|
-
|
(1)
|
-
|
-
|
8
|
|
|
|
|
|
|
|
|
|
|
|
Trading portfolio liabilities
|
(3)
|
-
|
-
|
-
|
-
|
2
|
-
|
(5)
|
-
|
(6)
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit,
commercial paper and other
money market instruments
|
(10)
|
-
|
-
|
-
|
1
|
-
|
(1)
|
(11)
|
-
|
(21)
|
Issued debt
|
(251)
|
-
|
-
|
(16)
|
1
|
5
|
-
|
(3)
|
1
|
(263)
|
Financial liabilities
designated at fair value
|
(261)
|
-
|
-
|
(16)
|
2
|
5
|
(1)
|
(14)
|
1
|
(284)
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate derivatives
|
22
|
(3)
|
-
|
-
|
76
|
116
|
-
|
(107)
|
145
|
249
|
Foreign exchange derivatives
|
7
|
-
|
-
|
-
|
(12)
|
(41)
|
-
|
(51)
|
17
|
(80)
|
Credit derivatives
|
1,050
|
(63)
|
4
|
-
|
(3)
|
86
|
-
|
2
|
3
|
1,079
|
Equity derivatives
|
(607)
|
(122)
|
(5)
|
-
|
23
|
89
|
-
|
(16)
|
292
|
(346)
|
Commodity derivatives
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Net derivative financial
instruments1
|
472
|
(188)
|
(1)
|
-
|
84
|
250
|
-
|
(172)
|
457
|
902
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
8,835
|
3,685
|
(4,047)
|
(16)
|
(165)
|
367
|
179
|
16
|
(829)
|
8,025
|
|
|
|
|
|
|
|
|
|
|
|
Level 3 movement analysis
|
||||||||||
|
Purchases
|
Sales
|
Issues
|
Settle-
ments
|
Total gains and losses in the period recognised in the income
statement
|
Transfers
|
As at
30.06.18
|
|||
|
As at
01.01.18
|
Trading
income
|
Other
income
|
In
|
Out
|
|||||
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Government and government sponsored debt
|
49
|
11
|
-
|
-
|
-
|
-
|
-
|
-
|
(35)
|
25
|
Corporate debt
|
871
|
35
|
(17)
|
-
|
(23)
|
6
|
-
|
15
|
(6)
|
881
|
Non-asset backed loans
|
166
|
2,239
|
(239)
|
-
|
-
|
2
|
-
|
11
|
(6)
|
2,173
|
Asset backed securities
|
627
|
100
|
(99)
|
-
|
-
|
(11)
|
-
|
5
|
(30)
|
592
|
Equity cash products
|
68
|
-
|
(7)
|
-
|
-
|
35
|
-
|
75
|
(52)
|
119
|
Other
|
196
|
4
|
(4)
|
-
|
(10)
|
(21)
|
-
|
24
|
(138)
|
51
|
Trading portfolio assets
|
1,977
|
2,389
|
(366)
|
-
|
(33)
|
11
|
-
|
130
|
(267)
|
3,841
|
|
|
|
|
|
|
|
|
|
|
|
Non-asset backed loans
|
6,073
|
16
|
(4,432)
|
-
|
(238)
|
4
|
-
|
-
|
(4)
|
1,419
|
Equity cash products
|
8
|
11
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
19
|
Private equity investments
|
688
|
295
|
(37)
|
-
|
-
|
-
|
53
|
-
|
(14)
|
985
|
Other
|
750
|
2,359
|
(1,967)
|
-
|
-
|
4
|
110
|
-
|
-
|
1,256
|
Financial assets at fair value through the income
statement
|
7,519
|
2,681
|
(6,436)
|
-
|
(238)
|
8
|
163
|
-
|
(18)
|
3,679
|
|
|
|
|
|
|
|
|
|
|
|
Equity cash products
|
36
|
-
|
(17)
|
-
|
-
|
-
|
-
|
-
|
(18)
|
1
|
Private equity investments
|
129
|
-
|
(12)
|
-
|
-
|
-
|
-
|
-
|
(14)
|
103
|
Other
|
40
|
-
|
(39)
|
-
|
-
|
-
|
-
|
-
|
-
|
1
|
Financial assets at fair value through other comprehensive
income
|
205
|
-
|
(68)
|
-
|
-
|
-
|
-
|
-
|
(32)
|
105
|
|
|
|
|
|
|
|
|
|
|
|
Investment property
|
116
|
-
|
(104)
|
-
|
(5)
|
-
|
4
|
-
|
-
|
11
|
|
|
|
|
|
|
|
|
|
|
|
Trading portfolio liabilities
|
(4)
|
-
|
2
|
-
|
-
|
-
|
-
|
2
|
-
|
-
|
|
|
|
|
|
|
|
-
|
|
|
|
Certificates of deposit, commercial paper and other money market
instruments
|
(250)
|
-
|
202
|
-
|
-
|
-
|
-
|
-
|
-
|
(48)
|
Issued debt
|
(214)
|
-
|
-
|
(4)
|
4
|
19
|
-
|
(219)
|
125
|
(289)
|
Other
|
(16)
|
-
|
16
|
-
|
2
|
-
|
(2)
|
-
|
-
|
-
|
Financial liabilities designated at fair value
|
(480)
|
-
|
218
|
(4)
|
6
|
19
|
(2)
|
(219)
|
125
|
(337)
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate derivatives
|
(150)
|
-
|
-
|
-
|
96
|
(46)
|
-
|
(343)
|
58
|
(385)
|
Foreign exchange derivatives
|
37
|
-
|
-
|
-
|
(17)
|
(30)
|
-
|
8
|
(18)
|
(20)
|
Credit derivatives
|
1,146
|
2
|
3
|
-
|
(15)
|
(210)
|
-
|
1
|
(2)
|
925
|
Equity derivatives
|
(896)
|
22
|
(431)
|
-
|
221
|
129
|
-
|
33
|
175
|
(747)
|
Net derivative financial
instruments1
|
137
|
24
|
(428)
|
-
|
285
|
(157)
|
-
|
(301)
|
213
|
(227)
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
9,470
|
5,094
|
(7,182)
|
(4)
|
15
|
(119)
|
165
|
(388)
|
21
|
7,072
|
|
Half year ended 30.06.19
|
Half year ended 30.06.18
|
||||
|
Income statement
|
Total
|
Income statement
|
Total
|
||
|
Trading income
|
Other income
|
Trading income
|
Other income
|
||
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Trading portfolio assets
|
21
|
-
|
21
|
(3)
|
-
|
(3)
|
Financial assets at fair value through the income
statement
|
75
|
178
|
253
|
7
|
116
|
123
|
Investment properties
|
-
|
(1)
|
(1)
|
-
|
-
|
-
|
Trading portfolio liabilities
|
2
|
-
|
2
|
-
|
-
|
-
|
Financial liabilities designated at fair value
|
6
|
-
|
6
|
18
|
-
|
18
|
Net derivative financial instruments
|
212
|
-
|
212
|
(155)
|
-
|
(155)
|
Total
|
316
|
177
|
493
|
(133)
|
116
|
(17)
|
Sensitivity analysis of valuations using unobservable
inputs
|
||||
|
As at 30.06.19
|
As at 31.12.18
|
||
|
Favourable
changes
|
Unfavourable
changes
|
Favourable
changes
|
Unfavourable
changes
|
|
£m
|
£m
|
£m
|
£m
|
Interest rate derivatives
|
52
|
(118)
|
80
|
(162)
|
Foreign exchange derivatives
|
11
|
(14)
|
7
|
(10)
|
Credit derivatives
|
125
|
(79)
|
126
|
(73)
|
Equity derivatives
|
107
|
(108)
|
110
|
(112)
|
Commodity derivatives
|
1
|
(1)
|
1
|
(1)
|
Corporate debt
|
12
|
(10)
|
10
|
(2)
|
Non-asset backed loans
|
138
|
(241)
|
141
|
(210)
|
Equity cash products
|
130
|
(173)
|
121
|
(155)
|
Private equity investments
|
6
|
(7)
|
-
|
(10)
|
Other1
|
2
|
(2)
|
2
|
(2)
|
Total
|
584
|
(753)
|
598
|
(737)
|
1
|
Other includes commercial real estate loans, fund and fund-linked
products, asset backed loans, physical commodities and investment
property.
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
|
£m
|
£m
|
Exit price adjustments derived from market bid-offer
spreads
|
(448)
|
(451)
|
Uncollateralised derivative funding
|
(60)
|
(47)
|
Derivative credit valuation adjustments
|
(149)
|
(125)
|
Derivative debit valuation adjustments
|
192
|
237
|
●
|
Uncollateralised
derivative funding increased by £13m to £60m as a result
of changes in underlying derivative exposures
|
●
|
Derivative credit
valuation adjustments increased by £24m to £149m as a
result of changes in underlying derivative exposures
|
●
|
Derivative debit
valuation adjustments decreased by £45m to £192m as a
result of tightening in Barclays’ credit spreads
|
|
As at 30.06.19
|
As at 31.12.18
|
||
|
Carrying amount
|
Fair value
|
Carrying amount
|
Fair value
|
Financial assets
|
£m
|
£m
|
£m
|
£m
|
Loans and advances at amortised cost
|
|
|
|
|
- Home loans
|
12,818
|
12,242
|
13,160
|
12,592
|
- Credit cards, unsecured loans and other retail
lending
|
34,035
|
34,951
|
31,921
|
33,115
|
- Finance lease receivables
|
2,035
|
2,178
|
1,886
|
2,057
|
- Corporate loans
|
95,776
|
95,053
|
89,992
|
89,671
|
Reverse repurchase agreements and other similar secured
lending
|
7,865
|
7,865
|
1,613
|
1,613
|
|
|
|
|
|
Financial liabilities
|
|
|
|
|
Deposits at amortised cost
|
|
|
|
|
- Banks
|
(19,579)
|
(19,579)
|
(15,569)
|
(15,569)
|
- Current and demand accounts
|
(78,961)
|
(78,961)
|
(77,264)
|
(77,264)
|
- Savings accounts
|
(27,008)
|
(27,008)
|
(26,980)
|
(26,980)
|
- Other time deposits
|
(89,577)
|
(89,569)
|
(79,524)
|
(79,524)
|
Repurchase agreements and other similar secured
borrowing
|
(5,992)
|
(5,992)
|
(7,378)
|
(7,378)
|
Debt securities in issue
|
(42,251)
|
(42,247)
|
(39,063)
|
(39,083)
|
Subordinated liabilities
|
(36,368)
|
(36,905)
|
(35,327)
|
(36,174)
|
8.
|
Subordinated liabilities
|
|
Half year ended
|
Year ended
|
|
30.06.19
|
31.12.18
|
|
£m
|
£m
|
Opening balance as at 1 January
|
35,327
|
24,193
|
Issuances
|
4,508
|
221
|
Redemptions
|
(4,321)
|
(3,246)
|
Other
|
854
|
14,159
|
Closing balance
|
36,368
|
35,327
|
9.
|
Provisions
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
|
£m
|
£m
|
Customer redress
|
104
|
127
|
Legal, competition and regulatory matters
|
224
|
411
|
Redundancy and restructuring
|
71
|
68
|
Undrawn contractually committed facilities and
guarantees
|
236
|
217
|
Onerous contracts
|
18
|
90
|
Sundry provisions
|
201
|
214
|
Total
|
854
|
1,127
|
10.
|
Retirement benefit
|
11.
|
Called up share capital
|
12.
|
Other equity instruments
|
13.
|
Other reserves
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
|
£m
|
£m
|
Currency translation reserve
|
4,159
|
3,927
|
Fair value through other comprehensive income reserve
|
61
|
(298)
|
Cash flow hedging reserve
|
489
|
(123)
|
Own credit reserve
|
(77)
|
(121)
|
Other reserves
|
(24)
|
(24)
|
Total
|
4,608
|
3,361
|
14.
|
Contingent liabilities and commitments
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
Contingent liabilities
|
£m
|
£m
|
Guarantees and letters of credit pledged as collateral
security
|
16,106
|
15,046
|
Performance guarantees, acceptances and endorsements
|
5,771
|
4,348
|
Total
|
21,877
|
19,394
|
|
|
|
Commitments
|
|
|
Documentary credits and other short-term trade related
transactions
|
1,273
|
1,741
|
Standby facilities, credit lines and other commitments
|
270,192
|
256,027
|
Total
|
271,465
|
257,768
|
15.
|
Legal, competition and regulatory matters
|
16.
|
Related party transactions
|
|
Half year ended 30.06.19
|
Half year ended 30.06.18
|
||
|
Parent
|
Fellow subsidiaries
|
Parent
|
Fellow subsidiaries
|
|
£m
|
£m
|
£m
|
£m
|
Total income
|
(275)
|
32
|
(77)
|
1
|
Operating expenses
|
(46)
|
(1,546)
|
(72)
|
(2,045)
|
|
|
|
|
|
|
As at 30.06.19
|
As at 31.12.18
|
||
|
Parent
|
Fellow subsidiaries
|
Parent
|
Fellow subsidiaries
|
|
£m
|
£m
|
£m
|
£m
|
Total assets
|
1,707
|
2,332
|
727
|
1,091
|
Total liabilities
|
26,315
|
1,272
|
21,405
|
2,058
|
17.
|
Barclays Bank PLC parent condensed balance sheet
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
Assets
|
£m
|
£m
|
Cash and balances at central banks
|
104,789
|
126,002
|
Cash collateral and settlement balances
|
87,509
|
66,196
|
Loans and advances at amortised cost
|
159,466
|
156,764
|
Reverse repurchase agreements and other similar secured
lending
|
12,108
|
5,766
|
Trading portfolio assets
|
89,066
|
73,480
|
Financial assets at fair value through the income
statement
|
180,560
|
179,365
|
Derivative financial instruments
|
243,388
|
221,247
|
Financial assets at fair value through other comprehensive
income
|
54,659
|
43,706
|
Investment in associates and joint ventures
|
138
|
140
|
Investment in subsidiaries
|
16,310
|
14,958
|
Goodwill and intangible assets
|
117
|
123
|
Property, plant and equipment1
|
445
|
103
|
Current tax assets
|
1,782
|
1,439
|
Deferred tax assets
|
1,080
|
1,249
|
Retirement benefit schemes
|
1,850
|
1,748
|
Other assets
|
4,087
|
1,110
|
Total assets
|
957,354
|
893,396
|
|
|
|
Liabilities
|
|
|
Deposits at amortised cost
|
240,920
|
231,017
|
Cash collateral and settlement balances
|
77,817
|
56,358
|
Repurchase agreements and other similar secured
borrowing
|
10,031
|
11,113
|
Debt securities in issue
|
28,384
|
26,391
|
Subordinated liabilities
|
36,137
|
35,085
|
Trading portfolio liabilities
|
50,940
|
46,626
|
Financial liabilities designated at fair value
|
220,597
|
216,966
|
Derivative financial instruments
|
238,992
|
221,590
|
Current tax liabilities
|
379
|
376
|
Deferred tax liabilities
|
332
|
-
|
Retirement benefit liabilities
|
115
|
124
|
Other liabilities1
|
4,723
|
3,295
|
Provisions
|
610
|
818
|
Total liabilities
|
909,977
|
849,759
|
|
|
|
Equity
|
|
|
Called up share capital and share premium
|
2,348
|
2,348
|
Other equity instruments
|
12,168
|
10,361
|
Other reserves
|
1,478
|
383
|
Retained earnings
|
31,383
|
30,545
|
Total equity
|
47,377
|
43,637
|
|
|
|
Total liabilities and equity
|
957,354
|
893,396
|
|
|
|
|
|
|
Results timetable1
|
|
|
Date
|
|
|
2019 Annual Report
|
|
|
13 February 2020
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% Change3
|
|
Exchange rates2
|
30.06.19
|
31.12.18
|
30.06.18
|
31.12.18
|
30.06.18
|
Period end - USD/GBP
|
1.27
|
1.28
|
1.32
|
(1%)
|
(4%)
|
6 month average - USD/GBP
|
1.29
|
1.29
|
1.38
|
-
|
(7%)
|
3 month average - USD/GBP
|
1.29
|
1.29
|
1.36
|
-
|
(5%)
|
Period end - EUR/GBP
|
1.12
|
1.12
|
1.13
|
-
|
(1%)
|
6 month average - EUR/GBP
|
1.15
|
1.12
|
1.14
|
3%
|
1%
|
3 month average - EUR/GBP
|
1.14
|
1.13
|
1.14
|
1%
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
For further information please contact
|
|
|
|
|
|
|
|
|
|
|
|
Investor relations
|
Media relations
|
||||
Lisa Bartrip +44 (0) 20 7773 0708
|
Thomas Hoskin +44 (0) 20 7116 4755
|
||||
|
|
|
|
|
|
More information on Barclays Bank PLC 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: 1026167.
|
|
||||
|
|
|
|
|
|
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.
|