|
BARCLAYS
PLC
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(Registrant)
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By: /s/
Garth Wright
--------------------------------
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Garth
Wright
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Assistant
Secretary
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Results Announcement
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Page
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Notes
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1
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Performance Highlights
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2
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Group Finance Director’s Review
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6
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Results by Business
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●
Barclays UK
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8
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●
Barclays
International
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11
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●
Head Office
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16
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Quarterly Results Summary
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17
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Quarterly Results by Business
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18
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Performance Management
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●
Margins and
Balances
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24
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Risk Management
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●
Risk Management and Principal
Risks
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25
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●
Credit Risk
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26
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●
Market Risk
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48
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●
Treasury and Capital
Risk
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49
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Statement of Directors' Responsibilities
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59
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Independent Review Report to Barclays PLC
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60
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Condensed Consolidated Financial Statements
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62
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Financial Statement Notes
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68
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Appendix: Non-IFRS Performance Measures
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89
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Shareholder Information
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96
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C. S. Venkatakrishnan, Group Chief Executive,
commented
“We have positioned Barclays carefully for this mixed
macroeconomic environment and delivered a consistent performance in
the second quarter. Through our diverse sources of income, prudent
risk management, and ongoing cost discipline we have again
demonstrated the stability and strength of the franchise we have
built over many years. This means we are able to distribute
increased capital returns to shareholders, while providing targeted
support to our customers and clients. Looking forward we are very
confident of meeting our targets for the full
year.”
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●
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Q223
RoTE of 11.4% and H123 of
13.2%, with double-digit RoTE across all operating
divisions in both periods
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●
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Announced H123 dividend of 2.7p per share and a share buyback of up
to £750m
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●
|
Strong balance sheet with Common Equity Tier 1 (CET1) ratio of
13.8% and Liquidity Coverage Ratio (LCR) of 158%
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|
Income
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Cost: income ratio
|
LLR
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Profit before tax
|
Attributable profit
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RoTE
|
EPS
|
TNAV per share
|
CET1 ratio
|
Total capital
return1
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Q223
|
£6.3bn
|
63%
|
37bps
|
£2.0bn
|
£1.3bn
|
11.4%
|
8.6p
|
291p
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13.8%
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c.7.5p
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H123
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£13.5bn
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60%
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44bps
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£4.6bn
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£3.1bn
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13.2%
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19.9p
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●
|
Group RoTE of 11.4% with profit before tax increased to
£2.0bn
(Q222: £1.5bn). The prior year includes impacts from
the Over-issuance of Securities2; £0.8bn income
gain and £1.1bn litigation and conduct charges. Excluding
these impacts
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||
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–
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Group income, up 6% year-on-year to £6.3bn, reflects diverse sources of income
across Barclays:
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|
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–
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Barclays UK income increased 14% to £2.0bn, primarily
driven by net interest income growth from higher rates, including
continued structural hedge income, partially offset by product
dynamics in deposits and mortgages
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–
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Corporate and Investment Bank (CIB) income decreased
3%
to £3.2bn, reflecting
lower client activity in Global Markets and Investment Banking
fees, more than offsetting a strong performance in Transaction
Banking from higher rates
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|
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–
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Consumer, Cards and Payments (CC&P) increased 18% to £1.3bn reflecting
higher balances in US cards (including the Gap
portfolio3),
growth in client assets and liabilities, and higher rates in
Private Bank
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–
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Group total operating expenses were £4.0bn, up 2% year-on-year, as inflation and business
growth were partially offset by efficiency savings and lower
litigation and conduct charges
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|
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–
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Cost:
income ratio was 63% as the
Group delivered positive cost: income jaws
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●
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Credit impairment charges were £0.4bn, with a loss loan rate (LLR) of
37bps
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||
●
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CET1 ratio of 13.8%, based on broadly stable risk weighted
assets (RWAs) of £336.9bn,
and tangible net asset value (TNAV) per share of 291p
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●
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Group RoTE was 13.2%, well positioned to achieve our greater
than 10% target for 2023
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●
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Excluding the impact of Over-issuance of Securities in the prior
year4:
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–
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Group income of £13.5bn,
up 9% year-on-year
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|
–
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Group total operating expenses were £8.1bn, up 5% year-on-year. Cost: income ratio of
60%, consistent with full year
guidance of low 60s in 2023
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●
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Credit impairment charges were £0.9bn, reflecting the anticipated normalising
of charges, with an LLR of 44bps; maintaining expectation of 50-60bps
LLR for 2023
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●
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On a
statutory basis:
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–
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Group
income was £13.5bn, up
2% year-on-year
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–
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Group
total operating expenses were £8.1bn, down 12% year-on-year
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1
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Includes dividend for H123 of 2.7p per share and share buyback
announced in relation to H123 of £750m.
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2
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Denotes the Over-issuance of Securities under Barclays Bank PLC's
US shelf registration statements on Form F-3 filed with the SEC in 2018 and 2019. See
page 5 for reconciliation of ex. Over-issuance of Securities
performance.
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3
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The Gap portfolio refers to the Gap Inc. US credit card
portfolio
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4
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H122 impacts from the Over-Issuance of Securities; £0.8bn
income gain and £1.5bn litigation and conduct
charges.
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●
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Returns: targeting RoTE of
greater than 10% in 2023, consistent with our medium-term
target
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●
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Income: diversified income
streams continue to position the Group well for the current
economic and market environment including higher interest rates. In
2023, Barclays UK Net Interest Margin (NIM) is now expected to be
less than 3.20%, with a current view of around 3.15%.
Guidance remains sensitive to product dynamics including the
trajectory of deposit balances and further macroeconomic
developments
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●
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Costs: targeting a cost: income
ratio percentage in the low 60s in 2023, investing for growth
whilst progressing towards the Group’s medium-term target of
below 60%
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●
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Impairment: expect an LLR of
50-60bps in 2023, based on the current macroeconomic
outlook
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●
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Capital: expect to operate
within the CET1 ratio medium-term target range of
13-14%
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●
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Capital returns: capital
distribution policy incorporates a progressive ordinary dividend,
supplemented with share buybacks as appropriate
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Barclays Group results
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Half year ended
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Three months ended
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||||
30.06.23
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30.06.22
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30.06.23
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30.06.22
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£m
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£m
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% Change
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|
£m
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£m
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% Change
|
Barclays UK
|
3,922
|
3,373
|
16
|
|
1,961
|
1,724
|
14
|
Corporate
and Investment Bank
|
7,138
|
7,971
|
(10)
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|
3,162
|
4,033
|
(22)
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Consumer,
Cards and Payments
|
2,584
|
1,969
|
31
|
|
1,278
|
1,083
|
18
|
Barclays International
|
9,722
|
9,940
|
(2)
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|
4,440
|
5,116
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(13)
|
Head Office
|
(122)
|
(109)
|
(12)
|
|
(116)
|
(132)
|
12
|
Total income
|
13,522
|
13,204
|
2
|
|
6,285
|
6,708
|
(6)
|
Operating costs
|
(8,030)
|
(7,270)
|
(10)
|
|
(3,919)
|
(3,682)
|
(6)
|
Litigation and conduct
|
(32)
|
(1,857)
|
98
|
|
(33)
|
(1,334)
|
98
|
Total operating expenses
|
(8,062)
|
(9,127)
|
12
|
|
(3,952)
|
(5,016)
|
21
|
Other net (expenses)/income
|
(2)
|
(3)
|
33
|
|
3
|
7
|
(57)
|
Profit before impairment
|
5,458
|
4,074
|
34
|
|
2,336
|
1,699
|
37
|
Credit impairment charges
|
(896)
|
(341)
|
|
|
(372)
|
(200)
|
(86)
|
Profit before tax
|
4,562
|
3,733
|
22
|
|
1,964
|
1,499
|
31
|
Tax charge
|
(914)
|
(823)
|
(11)
|
|
(353)
|
(209)
|
(69)
|
Profit after tax
|
3,648
|
2,910
|
25
|
|
1,611
|
1,290
|
25
|
Non-controlling interests
|
(30)
|
(21)
|
(43)
|
|
(22)
|
(20)
|
(10)
|
Other equity instrument holders
|
(507)
|
(414)
|
(22)
|
|
(261)
|
(199)
|
(31)
|
Attributable profit
|
3,111
|
2,475
|
26
|
|
1,328
|
1,071
|
24
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
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|
Return on average tangible shareholders' equity
|
13.2%
|
10.1%
|
|
|
11.4%
|
8.7%
|
|
Average tangible shareholders' equity (£bn)
|
47.2
|
48.9
|
|
|
46.7
|
49.0
|
|
Cost: income ratio
|
60%
|
69%
|
|
|
63%
|
75%
|
|
Loan loss rate (bps)
|
44
|
17
|
|
|
37
|
20
|
|
Basic earnings per share
|
19.9p
|
14.8p
|
|
|
8.6p
|
6.4p
|
|
Dividend per share
|
2.7p
|
2.25p
|
|
|
|
|
|
Share buyback announced (£m)
|
750
|
500
|
|
|
|
|
|
Total payout equivalent per share
|
c.7.5p
|
c.5.25p
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
15,645
|
16,684
|
(6)
|
|
15,523
|
16,684
|
(7)
|
Period end number of shares (m)
|
15,556
|
16,531
|
(6)
|
|
15,556
|
16,531
|
(6)
|
|
As at 30.06.23
|
As at 31.12.22
|
As at 30.06.22
|
Balance sheet and capital management1
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
401.4
|
398.8
|
395.8
|
Loans and advances at amortised cost impairment coverage
ratio
|
1.4%
|
1.4%
|
1.4%
|
Total assets
|
1,549.7
|
1,513.7
|
1,589.2
|
Deposits at amortised cost
|
554.7
|
545.8
|
568.7
|
Tangible net asset value per share
|
291p
|
295p
|
297p
|
Common equity tier 1 ratio
|
13.8%
|
13.9%
|
13.6%
|
Common equity tier 1 capital
|
46.6
|
46.9
|
46.7
|
Risk weighted assets
|
336.9
|
336.5
|
344.5
|
UK leverage ratio
|
5.1%
|
5.3%
|
5.1%
|
UK leverage exposure
|
1,183.7
|
1,130.0
|
1,151.2
|
|
|
|
|
Funding and liquidity
|
|
|
|
Group liquidity pool (£bn)
|
330.7
|
318.0
|
342.5
|
Liquidity coverage ratio
|
158%
|
165%
|
156%
|
Net
stable funding ratio2
|
139%
|
137%
|
|
Loan: deposit ratio
|
72%
|
73%
|
70%
|
1
|
Refer to pages 14 to 59 for further information on how capital,
RWAs and leverage are calculated.
|
2
|
Represents average of the last four spot quarter end
positions
|
|
|
|
|
||||
Three months ended
|
30.06.23
|
|
30.06.22
|
|
|
||
|
Statutory
|
|
Statutory
|
Impact of the Over-issuance
of Securities
|
Excluding impact of
the Over-issuance
of Securities
|
|
|
|
£m
|
|
£m
|
£m
|
£m
|
|
% Change
|
Barclays UK
|
1,961
|
|
1,724
|
—
|
1,724
|
|
14
|
Corporate
and Investment Bank
|
3,162
|
|
4,033
|
758
|
3,275
|
|
(3)
|
Consumer,
Cards and Payments
|
1,278
|
|
1,083
|
—
|
1,083
|
|
18
|
Barclays International
|
4,440
|
|
5,116
|
758
|
4,358
|
|
2
|
Head Office
|
(116)
|
|
(132)
|
—
|
(132)
|
|
12
|
Total income
|
6,285
|
|
6,708
|
758
|
5,950
|
|
6
|
Operating
costs
|
(3,919)
|
|
(3,682)
|
—
|
(3,682)
|
|
(6)
|
Litigation
and conduct
|
(33)
|
|
(1,334)
|
(1,149)
|
(185)
|
|
82
|
Total operating expenses
|
(3,952)
|
|
(5,016)
|
(1,149)
|
(3,867)
|
|
(2)
|
Other net income
|
3
|
|
7
|
—
|
7
|
|
(57)
|
Profit before impairment
|
2,336
|
|
1,699
|
(391)
|
2,090
|
|
12
|
Credit impairment charges
|
(372)
|
|
(200)
|
—
|
(200)
|
|
(86)
|
Profit before tax
|
1,964
|
|
1,499
|
(391)
|
1,890
|
|
4
|
Attributable profit
|
1,328
|
|
1,071
|
(341)
|
1,412
|
|
(6)
|
|
|
|
|
|
|
|
|
Average tangible shareholders' equity (£bn)
|
46.7
|
|
49.0
|
|
49.0
|
|
|
Return on average tangible shareholders' equity
|
11.4%
|
|
8.7%
|
|
11.5%
|
|
|
|
|
|
|
|
|
|
|
Half year ended
|
30.06.23
|
|
30.06.22
|
|
|
||
|
Statutory
|
|
Statutory
|
Impact of the Over-issuance
of Securities
|
Excluding impact of
the Over-issuance of Securities
|
|
|
|
£m
|
|
£m
|
£m
|
£m
|
|
% Change
|
Barclays UK
|
3,922
|
|
3,373
|
—
|
3,373
|
|
16
|
Corporate
and Investment Bank
|
7,138
|
|
7,971
|
758
|
7,213
|
|
(1)
|
Consumer,
Cards and Payments
|
2,584
|
|
1,969
|
—
|
1,969
|
|
31
|
Barclays International
|
9,722
|
|
9,940
|
758
|
9,182
|
|
6
|
Head Office
|
(122)
|
|
(109)
|
—
|
(109)
|
|
(12)
|
Total income
|
13,522
|
|
13,204
|
758
|
12,446
|
|
9
|
Operating
costs
|
(8,030)
|
|
(7,270)
|
—
|
(7,270)
|
|
(10)
|
Litigation
and conduct
|
(32)
|
|
(1,857)
|
(1,469)
|
(388)
|
|
92
|
Total operating expenses
|
(8,062)
|
|
(9,127)
|
(1,469)
|
(7,658)
|
|
(5)
|
Other net expenses
|
(2)
|
|
(3)
|
—
|
(3)
|
|
33
|
Profit before impairment
|
5,458
|
|
4,074
|
(711)
|
4,785
|
|
14
|
Credit impairment charges
|
(896)
|
|
(341)
|
—
|
(341)
|
|
|
Profit before tax
|
4,562
|
|
3,733
|
(711)
|
4,444
|
|
3
|
Attributable profit
|
3,111
|
|
2,475
|
(581)
|
3,056
|
|
2
|
|
|
|
|
|
|
|
|
Average tangible shareholders' equity (£bn)
|
47.2
|
|
48.9
|
|
48.9
|
|
|
Return on average tangible shareholders' equity
|
13.2%
|
|
10.1%
|
|
12.5%
|
|
|
●
|
Barclays delivered a profit before tax of £4,562m (H122:
£3,733m), RoTE of 13.2% (H122: 10.1%) and earnings per share
(EPS) of 19.9p (H122: 14.8p)
|
|
●
|
The Group has a diverse income profile across businesses and
geographies including a significant presence in the US.
The appreciation of average USD
against GBP positively impacted income and profits and adversely
impacted credit impairment charges and total operating
expenses
|
|
●
|
Group income increased 2% to £13,522m
primarily from the higher interest
rate environment, including continued structural hedge income, and
the benefit of higher balances in US cards, partially offset by the
prior year benefit from hedging arrangements related to the
Over-issuance of Securities and lower client activity in Global
Markets and Investment Banking fees
|
|
●
|
Group total operating expenses
decreased to £8,062m
(H122: £9,127m)
|
|
|
–
|
Group
operating expenses excluding litigation and conduct charges
increased to £8,030m
(H122: £7,270m)
reflecting the impact of business
growth, including the Gap portfolio acquisition in US cards and the
Kensington Mortgage Company (KMC) acquisition in Barclays UK, with
the impact of inflation broadly offset by efficiency
savings
|
|
–
|
Litigation
and conduct charges decreased to £32m (H122: £1,857m). The prior year charges
included £1,469m of costs related to the Over-issuance of
Securities
|
●
|
Credit impairment charges were £896m (H122:
£341m), reflecting higher
US cards balances and normalising delinquencies. Total
coverage ratio remains strong at 1.4% (December 2022: 1.4%)
|
|
●
|
The effective tax rate (ETR) was 20.0% (H122: 22.0%).
The prior year included the tax charge
recognised for the re-measurement of the Group’s UK deferred
tax assets as a result of the UK banking surcharge rate being
reduced from 8% to 3%
|
|
●
|
Attributable profit was £3,111m (H122:
£2,475m)
|
|
●
|
Total assets increased to £1,549.7bn
(December 2022: £1,513.7bn)
driven by increased trading and client activity within Global
Markets, partially offset by the strengthening of GBP against USD
since December 2022. The Group liquidity pool was further
strengthened by growth in deposits
|
|
●
|
TNAV per share was
291p (December
2022: 295p) as EPS of
19.9p was more than offset by the 2022 full year dividend
paid on 31 March 2023 and net negative reserve movements driven by
currency movements and the interest rate environment
|
●
|
Announced
a half year dividend of 2.7p per share and intention to initiate a
further share buyback of up to £750m
|
●
|
Barclays
is committed to maintaining a balance between a strong capital
position, delivering total cash returns to shareholders and
investment in the business. Barclays pays a progressive ordinary
dividend, taking into account these objectives and the earnings
outlook of the Group. The Board will also continue to supplement
the ordinary dividend as appropriate, including with share
buybacks
|
●
|
The CET1 ratio decreased by c.10bps to 13.8% (December 2022: 13.9%)
as CET1 capital decreased to £46.6bn (December 2022:
£46.9bn) whilst RWAs remained broadly stable at
£336.9bn:
|
|
|
–
|
c.90bps increase from attributable profit generated in the
period
|
|
–
|
c.40bps aggregate decrease from expected capital impacts in Q123,
including the £0.5bn share buyback announced at FY22 results,
the impact of regulatory change on 1 January 2023 relating to IFRS
9 transitional relief, and the impact of the KMC
acquisition
|
|
–
|
c.30bps decrease as a result of a £8.6bn increase in RWAs
primarily driven by increased trading and credit risk RWAs within
CIB
|
|
–
|
c.30bps decrease primarily due to increased regulatory capital
deductions largely driven by an accrual for the FY23
dividend
|
|
–
|
An £8.8bn decrease in RWAs as a result of foreign exchange
movements was broadly offset by a £1.2bn decrease in CET1
capital due to a decrease in the currency translation
reserve
|
●
|
The UK leverage ratio decreased to 5.1% (December 2022: 5.3%)
primarily due to a £53.7bn increase in leverage exposure to
£1,183.7bn (December 2022: £1,130.0bn). This is largely
driven by increased trading and client activity within Global
Markets
|
●
|
The
liquidity and funding position remains robust and stable in H123.
The liquidity pool increased to £330.7bn (December 2022:
£318.0bn) driven by deposit growth. The composition of the
liquidity pool is conservative, with 80% held in cash and deposits
with central banks and the remainder primarily held in high quality
government bonds, materially held at fair value or
hedged
|
●
|
The
strength of the funding and liquidity position is supported by a
diverse and stable deposit franchise. Total deposits increased to
£554.7bn (December 2022:
£545.8bn)
|
●
|
The LCR
remained significantly above the 100% regulatory requirement at
158% (December 2022: 165%),
equivalent to a surplus of £115.3bn (December 2022:
£116.4bn)
|
●
|
Net
Stable Funding Ratio (average of last four quarter ends) was 139%
(December 2022: 137%), which represents a £166.6bn
(December 2022: £155.6bn)
surplus above the 100% regulatory requirement
|
●
|
Wholesale
funding outstanding, excluding repurchase agreements, was
£183.3bn (December 2022: £184.0bn)
|
●
|
The
Group issued £7.1bn
equivalent of minimum requirement for own funds and eligible
liabilities (MREL) instruments from Barclays PLC (the Parent
company) in H123. The Group has a strong MREL position with a ratio
of 32.9%, which is in excess of the regulatory requirement of 29.2%
plus a confidential, institution specific, Prudential Regulation
Authority (PRA) buffer
|
●
|
KMC acquisition: on 1 March 2023 Barclays completed the
acquisition of UK specialist mortgage lender KMC, including a
portfolio of mortgages totalling £2.2bn with an RWA impact of
£0.8bn
|
||
●
|
Combination of the Private Bank and Barclays UK Wealth
business: on 1 May 2023, Wealth
Management & Investments (WM&I) was transferred from
Barclays UK to CC&P, creating a combined Private Bank and
Wealth Management business. The combination seeks to improve
customer and client experience and create business
synergies:
|
||
|
–
|
The
business transferred includes c.£28bn of invested assets,
generating annualised income of c.£0.2bn
|
|
|
–
|
Excluding
the transfer, Q223 Barclays UK income would have been c.£35m
higher, NIM c.2bps higher and operating costs c.£35m higher,
with corresponding impacts to income and operating costs for
CC&P
|
|
Barclays UK
|
Half year ended
|
|
Three months ended
|
||||
|
30.06.23
|
30.06.22
|
|
|
30.06.23
|
30.06.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
Net interest income
|
3,278
|
2,732
|
20
|
|
1,660
|
1,393
|
19
|
Net fee, commission and other income
|
644
|
641
|
—
|
|
301
|
331
|
(9)
|
Total income
|
3,922
|
3,373
|
16
|
|
1,961
|
1,724
|
14
|
Operating costs
|
(2,182)
|
(2,083)
|
(5)
|
|
(1,090)
|
(1,085)
|
—
|
Litigation and conduct
|
3
|
(25)
|
|
|
5
|
(16)
|
|
Total operating expenses
|
(2,179)
|
(2,108)
|
(3)
|
|
(1,085)
|
(1,101)
|
1
|
Other net income
|
—
|
—
|
|
|
—
|
—
|
#DIV/0!
|
Profit before impairment
|
1,743
|
1,265
|
38
|
|
876
|
623
|
41
|
Credit impairment charges
|
(208)
|
(48)
|
|
|
(95)
|
—
|
|
Profit before tax
|
1,535
|
1,217
|
26
|
|
781
|
623
|
25
|
Attributable profit
|
1,049
|
854
|
23
|
|
534
|
458
|
17
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
20.4%
|
17.0%
|
|
|
20.9%
|
18.4%
|
|
Average allocated tangible equity (£bn)
|
10.3
|
10.0
|
|
|
10.2
|
10.0
|
|
Cost: income ratio
|
56%
|
62%
|
|
|
55%
|
64%
|
|
Loan loss rate (bps)
|
18
|
4
|
|
|
17
|
—
|
|
Net interest margin
|
3.20%
|
2.67%
|
|
|
3.22%
|
2.71%
|
|
|
|
|
|
|
|
|
|
Key facts
|
|
|
|
|
|
|
|
UK mortgage balances (£bn)
|
163.6
|
159.6
|
|
|
|
|
|
Mortgage gross lending flow (£bn)
|
12.2
|
13.9
|
|
|
|
|
|
Average
loan to value of mortgage portfolio1
|
53%
|
51%
|
|
|
|
|
|
Average
loan to value of new mortgage lending1
|
63%
|
69%
|
|
|
|
|
|
Number of branches
|
414
|
593
|
|
|
|
|
|
Mobile banking active customers (m)
|
10.8
|
10.1
|
|
|
|
|
|
30 day arrears rate - Barclaycard Consumer UK
|
0.9%
|
1.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at
30.06.23
|
As at
31.12.22
|
As at
30.06.22
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
|
|
|
|
Loans and advances to customers at amortised cost
|
206.8
|
205.1
|
205.9
|
|
|
|
|
Total assets
|
304.8
|
313.2
|
318.8
|
|
|
|
|
Customer deposits at amortised cost
|
249.8
|
258.0
|
261.5
|
|
|
|
|
Loan: deposit ratio
|
90%
|
87%
|
85%
|
|
|
|
|
Risk weighted assets
|
73.0
|
73.1
|
72.2
|
|
|
|
|
Period end allocated tangible equity
|
10.1
|
10.1
|
9.9
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
Average loan to value of mortgages is balance weighted and reflects
both residential and buy-to-let mortgage portfolios within the Home
Loans portfolio.
|
Analysis of Barclays UK
|
Half year ended
|
|
Three months ended
|
||||
30.06.23
|
30.06.22
|
|
|
30.06.23
|
30.06.22
|
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
Personal Banking
|
2,497
|
2,099
|
19
|
|
1,244
|
1,077
|
16
|
Barclaycard Consumer UK
|
484
|
541
|
(11)
|
|
237
|
265
|
(11)
|
Business Banking
|
941
|
733
|
28
|
|
480
|
382
|
26
|
Total income
|
3,922
|
3,373
|
16
|
|
1,961
|
1,724
|
14
|
|
|
|
|
|
|
|
|
Analysis of credit impairment (charges)/releases
|
|
|
|
|
|
|
|
Personal Banking
|
(120)
|
(21)
|
|
|
(92)
|
(42)
|
|
Barclaycard Consumer UK
|
(118)
|
40
|
|
|
(35)
|
84
|
|
Business Banking
|
30
|
(67)
|
|
|
32
|
(42)
|
|
Total credit impairment charges
|
(208)
|
(48)
|
|
|
(95)
|
—
|
|
|
|
|
|
|
|
|
|
|
As at
30.06.23
|
As at
31.12.22
|
As at
30.06.22
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
£bn
|
|
|
|
|
Personal Banking
|
173.3
|
169.7
|
167.1
|
|
|
|
|
Barclaycard Consumer UK
|
9.3
|
9.2
|
8.8
|
|
|
|
|
Business Banking
|
24.2
|
26.2
|
30.0
|
|
|
|
|
Total loans and advances to customers at amortised
cost
|
206.8
|
205.1
|
205.9
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
|
|
|
|
Personal Banking
|
191.1
|
195.6
|
197.0
|
|
|
|
|
Barclaycard Consumer UK
|
—
|
—
|
—
|
|
|
|
|
Business Banking
|
58.7
|
62.4
|
64.5
|
|
|
|
|
Total customer deposits at amortised cost
|
249.8
|
258.0
|
261.5
|
|
|
|
|
●
|
Profit before tax increased 26% to £1,535m with a RoTE of
20.4% (H122: 17.0%)
|
||
●
|
Total income increased 16% to £3,922m. Net
interest income increased
20% to £3,278m with a NIM of 3.20% (H122:
2.67%), as higher interest
rates and associated structural hedge benefit outweighed mortgage
margin pressure and lower deposit volumes. Net fee, commission and
other income was stable at £644m, including the impact of the
transfer of WM&I to CC&P
|
||
|
–
|
Personal
Banking income increased
19% to £2,497m, driven by higher interest
rates, partially offset by mortgage margin compression and lower
current accounts deposit volumes in line with wider market trends
and cost of living pressures
|
|
|
–
|
Barclaycard
Consumer UK income decreased
11% to £484m as higher customer spend volumes
were more than offset by lower interest earning lending balances
following repayments and ongoing prudent risk
management
|
|
|
–
|
Business
Banking income increased
28% to £941m driven by higher interest rates,
partially offset by lower government scheme lending as repayments
continue and lower deposit volumes in line with wider market
trends
|
|
●
|
Total operating expenses increased 3% to £2,179m from the impact of inflation,
partially offset by the transfer of WM&I to CC&P. Ongoing
efficiency savings continue to be reinvested in digitisation to
support further improvements to the cost: income ratio over
time
|
||
●
|
Credit impairment charges increased to £208m (H122: £48m), driven by UK cards and Mortgages. The
updated macroeconomic scenarios reflect improvement in GDP and
unemployment outlook against a backdrop of higher interest rates
and a weaker House Price Index (HPI). UK cards 30 and 90 day
arrears remained low at 0.9%
(H122: 1.0%) and 0.2% (H122:
0.2%) respectively. The UK cards total coverage ratio was
7.1% (December 2022: 7.6%)
|
●
|
Loans and advances to customers at amortised cost
increased 1% to £206.8bn primarily
reflecting the acquisition of KMC and continued mortgage lending,
which more than offset repayment of government scheme lending in
Business Banking
|
●
|
Customer deposits at amortised cost decreased 3% to £249.8bn.
Increases in savings product balances were more than offset by
reduced current account and Business Banking deposits, reflecting
broader market trends. The loan: deposit ratio increased to
90% (December 2022:
87%)
|
●
|
RWAs were broadly stable at £73.0bn
(December 2022: £73.1bn) including a capital Loss Given Default
(LGD) model update for the mortgages portfolio, partially offset by
the acquisition of KMC
|
Barclays International
|
Half year ended
|
|
Three months ended
|
||||
|
30.06.23
|
30.06.22
|
|
|
30.06.23
|
30.06.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
Net interest income
|
3,084
|
1,965
|
57
|
|
1,730
|
1,029
|
68
|
Net trading income
|
3,697
|
5,212
|
(29)
|
|
1,278
|
2,766
|
(54)
|
Net fee, commission and other income
|
2,941
|
2,763
|
6
|
|
1,432
|
1,321
|
8
|
Total income
|
9,722
|
9,940
|
(2)
|
|
4,440
|
5,116
|
(13)
|
Operating costs
|
(5,703)
|
(5,042)
|
(13)
|
|
(2,747)
|
(2,537)
|
(8)
|
Litigation and conduct
|
(30)
|
(1,832)
|
98
|
|
(33)
|
(1,319)
|
97
|
Total operating expenses
|
(5,733)
|
(6,874)
|
17
|
|
(2,780)
|
(3,856)
|
28
|
Other net income
|
9
|
13
|
(31)
|
|
6
|
5
|
20
|
Profit before impairment
|
3,998
|
3,079
|
30
|
|
1,666
|
1,265
|
32
|
Credit impairment charges
|
(679)
|
(310)
|
|
|
(275)
|
(209)
|
(32)
|
Profit before tax
|
3,319
|
2,769
|
20
|
|
1,391
|
1,056
|
32
|
Attributable profit
|
2,301
|
2,083
|
10
|
|
953
|
783
|
22
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
12.4%
|
11.5%
|
|
|
10.3%
|
8.4%
|
|
Average allocated tangible equity (£bn)
|
37.1
|
36.2
|
|
|
37.1
|
37.3
|
|
Cost: income ratio
|
59%
|
69%
|
|
|
63%
|
75%
|
|
Loan loss rate (bps)
|
78
|
37
|
|
|
63
|
49
|
|
Net
interest margin1
|
5.86%
|
4.29%
|
|
|
5.85%
|
4.41%
|
|
|
|
|
|
|
|
|
|
|
As at
30.06.23
|
As at
31.12.22
|
As at
30.06.22
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
|
|
|
|
Loans and advances to customers at amortised cost
|
126.6
|
133.7
|
126.7
|
|
|
|
|
Loans and advances to banks at amortised cost
|
9.7
|
8.7
|
11.3
|
|
|
|
|
Debt securities at amortised cost
|
35.2
|
27.2
|
29.3
|
|
|
|
|
Loans and advances at amortised cost
|
171.5
|
169.6
|
167.3
|
|
|
|
|
Trading portfolio assets
|
165.1
|
133.8
|
126.9
|
|
|
|
|
Derivative financial instrument assets
|
264.9
|
301.7
|
343.5
|
|
|
|
|
Financial assets at fair value through the income
statement
|
232.2
|
210.5
|
209.3
|
|
|
|
|
Cash collateral and settlement balances
|
123.9
|
107.7
|
128.5
|
|
|
|
|
Other assets
|
268.8
|
258.0
|
275.1
|
|
|
|
|
Total assets
|
1,226.4
|
1,181.3
|
1,250.6
|
|
|
|
|
Deposits at amortised cost
|
305.0
|
287.6
|
307.4
|
|
|
|
|
Derivative financial instrument liabilities
|
254.5
|
288.9
|
321.2
|
|
|
|
|
Loan: deposit ratio
|
56%
|
59%
|
54%
|
|
|
|
|
Risk weighted assets
|
254.6
|
254.8
|
263.8
|
|
|
|
|
Period end allocated tangible equity
|
36.7
|
36.8
|
38.0
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
CIB and Barclays International margins include the lending related
investment bank business.
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
Half year ended
|
|
Three months ended
|
||||
|
30.06.23
|
30.06.22
|
|
|
30.06.23
|
30.06.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
Net interest income
|
1,321
|
795
|
66
|
|
856
|
410
|
|
Net trading income
|
3,790
|
5,188
|
(27)
|
|
1,353
|
2,738
|
(51)
|
Net fee, commission and other income
|
2,027
|
1,988
|
2
|
|
953
|
885
|
8
|
Total income
|
7,138
|
7,971
|
(10)
|
|
3,162
|
4,033
|
(22)
|
Operating costs
|
(4,186)
|
(3,791)
|
(10)
|
|
(1,984)
|
(1,870)
|
(6)
|
Litigation and conduct
|
2
|
(1,632)
|
|
|
(1)
|
(1,314)
|
100
|
Total operating expenses
|
(4,184)
|
(5,423)
|
23
|
|
(1,985)
|
(3,184)
|
38
|
Other net income
|
1
|
—
|
|
|
1
|
—
|
|
Profit before impairment
|
2,955
|
2,548
|
16
|
|
1,178
|
849
|
39
|
Credit impairment (charges)/releases
|
(20)
|
(32)
|
38
|
|
13
|
(65)
|
|
Profit before tax
|
2,935
|
2,516
|
17
|
|
1,191
|
784
|
52
|
Attributable profit
|
2,007
|
1,895
|
6
|
|
798
|
579
|
38
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
12.6%
|
11.9%
|
|
|
10.0%
|
7.1%
|
|
Average allocated tangible equity (£bn)
|
31.8
|
31.8
|
|
|
31.8
|
32.7
|
|
Cost: income ratio
|
59%
|
68%
|
|
|
63%
|
79%
|
|
Loan loss rate (bps)
|
3
|
5
|
|
|
(4)
|
20
|
|
|
|
|
|
|
|
|
|
|
As at
30.06.23
|
As at
31.12.22
|
As at
30.06.22
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
|
|
|
|
Loans and advances to customers at amortised cost
|
84.8
|
90.5
|
86.5
|
|
|
|
|
Loans and advances to banks at amortised cost
|
9.0
|
8.1
|
10.0
|
|
|
|
|
Debt securities at amortised cost
|
35.1
|
27.2
|
29.3
|
|
|
|
|
Loans and advances at amortised cost
|
128.9
|
125.8
|
125.8
|
|
|
|
|
Trading portfolio assets
|
165.0
|
133.7
|
126.7
|
|
|
|
|
Derivative financial instrument assets
|
264.8
|
301.6
|
343.4
|
|
|
|
|
Financial assets at fair value through the income
statement
|
232.1
|
210.5
|
209.2
|
|
|
|
|
Cash collateral and settlement balances
|
122.5
|
106.9
|
127.7
|
|
|
|
|
Other assets
|
224.6
|
222.6
|
237.2
|
|
|
|
|
Total assets
|
1,137.9
|
1,101.1
|
1,170.0
|
|
|
|
|
Deposits at amortised cost
|
225.5
|
205.8
|
229.5
|
|
|
|
|
Derivative financial instrument liabilities
|
254.5
|
288.9
|
321.2
|
|
|
|
|
Risk weighted assets
|
216.5
|
215.9
|
227.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Half year ended
|
|
Three months ended
|
||||
|
30.06.23
|
30.06.22
|
|
|
30.06.23
|
30.06.22
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
FICC
|
2,974
|
3,173
|
(6)
|
|
1,186
|
1,529
|
(22)
|
Equities
|
1,267
|
2,463
|
(49)
|
|
563
|
1,411
|
(60)
|
Global Markets
|
4,241
|
5,636
|
(25)
|
|
1,749
|
2,940
|
(41)
|
Advisory
|
342
|
421
|
(19)
|
|
130
|
236
|
(45)
|
Equity capital markets
|
119
|
84
|
42
|
|
69
|
37
|
86
|
Debt capital markets
|
614
|
697
|
(12)
|
|
273
|
281
|
(3)
|
Investment Banking fees
|
1,075
|
1,202
|
(11)
|
|
472
|
554
|
(15)
|
Corporate lending
|
263
|
78
|
|
|
168
|
(47)
|
|
Transaction banking
|
1,559
|
1,055
|
48
|
|
773
|
586
|
32
|
Corporate
|
1,822
|
1,133
|
61
|
|
941
|
539
|
75
|
Total income
|
7,138
|
7,971
|
(10)
|
|
3,162
|
4,033
|
(22)
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
Consumer, Cards and Payments
|
Half year ended
|
|
Three months ended
|
||||
|
30.06.23
|
30.06.22
|
|
|
30.06.23
|
30.06.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
Net interest income
|
1,763
|
1,170
|
51
|
|
874
|
619
|
41
|
Net fee, commission, trading and other income
|
821
|
799
|
3
|
|
404
|
464
|
(13)
|
Total income
|
2,584
|
1,969
|
31
|
|
1,278
|
1,083
|
18
|
Operating costs
|
(1,517)
|
(1,251)
|
(21)
|
|
(763)
|
(667)
|
(14)
|
Litigation and conduct
|
(32)
|
(200)
|
84
|
|
(32)
|
(5)
|
|
Total operating expenses
|
(1,549)
|
(1,451)
|
(7)
|
|
(795)
|
(672)
|
(18)
|
Other net income
|
8
|
13
|
(38)
|
|
5
|
5
|
—
|
Profit before impairment
|
1,043
|
531
|
96
|
|
488
|
416
|
17
|
Credit impairment charges
|
(659)
|
(278)
|
|
|
(288)
|
(144)
|
|
Profit before tax
|
384
|
253
|
52
|
|
200
|
272
|
(26)
|
Attributable profit
|
294
|
188
|
56
|
|
155
|
204
|
(24)
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
11.1%
|
8.5%
|
|
|
11.8%
|
17.8%
|
|
Average allocated tangible equity (£bn)
|
5.3
|
4.4
|
|
|
5.3
|
4.6
|
|
Cost: income ratio
|
60%
|
74%
|
|
|
62%
|
62%
|
|
Loan loss rate (bps)
|
293
|
128
|
|
|
255
|
132
|
|
|
|
|
|
|
|
|
|
Key facts
|
|
|
|
|
|
|
|
US cards 30 day arrears rate
|
2.4%
|
1.4%
|
|
|
|
|
|
US cards customer FICO score distribution
|
|
|
|
|
|
|
|
<660
|
11%
|
10%
|
|
|
|
|
|
>660
|
89%
|
90%
|
|
|
|
|
|
Total number of payments clients
|
401k
|
391k
|
|
|
|
|
|
Value
of payments processed (£bn)1,2
|
161
|
150
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at
30.06.23
|
As at
31.12.22
|
As at
30.06.22
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
|
|
|
|
Loans and advances to customers at amortised cost
|
41.7
|
43.2
|
40.2
|
|
|
|
|
Total assets
|
88.5
|
80.2
|
80.6
|
|
|
|
|
Deposits at amortised cost
|
79.5
|
81.8
|
77.9
|
|
|
|
|
Risk weighted assets
|
38.1
|
38.9
|
36.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Half year ended
|
|
Three months ended
|
||||
|
30.06.23
|
30.06.22
|
|
|
30.06.23
|
30.06.22
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
International Cards and Consumer Bank
|
1,734
|
1,229
|
41
|
|
835
|
691
|
21
|
Private Bank
|
554
|
459
|
21
|
|
295
|
245
|
20
|
Payments
|
296
|
281
|
5
|
|
148
|
147
|
1
|
Total income
|
2,584
|
1,969
|
31
|
|
1,278
|
1,083
|
18
|
1
|
Includes £155bn (H122: £145bn) of merchant acquiring
payments.
|
2
|
The H122 comparative has been restated to reflect only the turnover
of the Payments business to be consistent with H123
|
●
|
Profit before tax increased 20% to £3,319m with a RoTE of
12.4% (H122: 11.5%), reflecting
a RoTE of 12.6% (H122: 11.9%) in CIB and 11.1% (H122: 8.5%) in
CC&P
|
||
●
|
Barclays International has a diverse income profile across
businesses and geographies including a significant presence in the
US. The appreciation of average
USD against GBP positively impacted income and profits, and
adversely impacted credit impairment charges and total operating
expenses
|
||
●
|
Total income decreased to
£9,722m (H122:
£9,940m)
|
||
|
–
|
CIB
income decreased 10% to
£7,138m. Excluding the
impact from prior year hedging arrangements related to the
Over-issuance of Securities1, CIB income
decreased 1%
|
|
|
|
–
|
Global
Markets income of £4,241m
decreased 25%, and 13% excluding the impact from prior year
hedging arrangements related to the Over-issuance of Securities.
FICC income decreased
6% to £2,974m, driven by macro reflecting
lower market volatility and client activity, partially offset by a
strong performance in credit. Equities income of £1,267m decreased 49%, and 26% excluding the impact from the
Over-issuance of Securities driven by a decline in derivatives
income reflecting less volatile equity market
conditions
|
|
|
–
|
Investment
Banking fees decreased
11% to £1,075m due to the reduced fee pool
across Advisory and Debt capital markets2, partially offset by
an improvement in Equity capital markets
|
|
|
–
|
Within
Corporate, Transaction banking income increased 48% to £1,559m driven by improved deposit
margins in the higher rate environment. Corporate lending income
increased to £263m (H122: £78m) mainly driven by lower costs of
hedging and the non-repeat of fair value losses on leverage finance
lending net of mark to market gains on related hedges in
H122
|
|
–
|
CC&P
income increased 31% to £2,584m
|
|
|
|
–
|
International
Cards and Consumer Bank income increased 41% to £1,734m reflecting higher cards
balances and improved margins, including the Gap portfolio
acquisition in Q222
|
|
|
–
|
Private
Bank income increased
21% to £554m, reflecting client balance
growth and improved margins, including the transfer of WM&I
from Barclays UK
|
|
|
–
|
Payments
income increased 5% to £296m driven by merchant acquiring
turnover growth
|
●
|
Total operating expenses decreased 17% to £5,733m and increased 13% to £5,703m excluding litigation and
conduct, reflecting investment in the business
|
||
|
–
|
CIB
total operating expenses decreased 23% to £4,184m. Operating expenses excluding
litigation and conduct charges increased 10% to £4,186m reflecting investment in
talent and technology, and the impact of inflation
|
|
|
–
|
CC&P
total operating expenses increased 7% to £1,549m. Operating expenses excluding
litigation and conduct charges increased 21% to £1,517m, driven by higher investment
spend to support growth, mainly in marketing and partnership costs,
including the Gap portfolio acquisition, the transfer of WM&I
from Barclays UK and the impact of inflation
|
|
●
|
Credit impairment charges were £679m (H122: £310m)
|
||
|
–
|
CIB
credit impairment charges of £20m (H122: £32m) were driven by single name
charges partially offset by the benefit of credit protection and
the updated macroeconomic scenarios
|
|
|
–
|
CC&P
credit impairment charges increased to £659m (H122: £278m), reflecting higher US cards
balances, including the Gap portfolio, and normalising
delinquencies. US cards 30 and 90 day arrears were 2.4% (H122:
1.4%) and 1.2% (H122: 0.7%) respectively. The US cards total
coverage ratio was 9.0% (December 2022: 8.1%)
|
1
|
H122 included a £758m of income related to hedging
arrangements to manage the risks of the rescission offer in
relation to the Over-issuance of Securities.
|
2
|
Data source: Dealogic for the period covering 1 January to 30 June
2023.
|
●
|
Loans and advances at amortised cost increased £1.9bn
to £171.5bn driven by
increased investment in debt securities in Treasury, offset by net
loan repayments in CIB and the strengthening of GBP against
USD
|
●
|
Trading portfolio assets increased £31.3bn to
£165.1bn driven
by increased trading activity at the end of the period within
Global Markets
|
●
|
Derivative assets and liabilities decreased £36.8bn and
£34.4bn respectively to £264.9bn
and £254.5bn reflecting
lower market volatility and the strengthening of GBP against
USD
|
●
|
Financial assets at fair value through the income statement
increased £21.7bn to £232.2bn driven by
increased secured lending
|
●
|
Deposits at amortised costs increased £17.4bn to
£305.0bn driven
by increased deposits in Treasury
|
●
|
RWAs decreased to £254.6bn
(December 2022: £254.8bn),
as a reduction from the strengthening of GBP against USD was
partially offset by increased trading and credit risk RWAs within
CIB
|
Head Office
|
Half year ended
|
|
Three months ended
|
||||
|
30.06.23
|
30.06.22
|
|
|
30.06.23
|
30.06.22
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
£m
|
£m
|
% Change
|
Net interest income
|
(39)
|
66
|
|
|
(120)
|
—
|
|
Net fee, commission and other income
|
(83)
|
(175)
|
53
|
|
4
|
(132)
|
|
Total income
|
(122)
|
(109)
|
(12)
|
|
(116)
|
(132)
|
12
|
Operating costs
|
(145)
|
(145)
|
—
|
|
(82)
|
(60)
|
(37)
|
Litigation and conduct
|
(5)
|
—
|
#DIV/0!
|
|
(5)
|
1
|
|
Total operating expenses
|
(150)
|
(145)
|
(3)
|
|
(87)
|
(59)
|
(47)
|
Other net (expenses)/income
|
(11)
|
(16)
|
31
|
|
(3)
|
2
|
|
Loss before impairment
|
(283)
|
(270)
|
(5)
|
|
(206)
|
(189)
|
(9)
|
Credit impairment (charges)/releases
|
(9)
|
17
|
|
|
(2)
|
9
|
|
Loss before tax
|
(292)
|
(253)
|
(15)
|
|
(208)
|
(180)
|
(16)
|
Attributable loss
|
(239)
|
(462)
|
48
|
|
(159)
|
(170)
|
6
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
(0.2)
|
2.7
|
|
|
(0.6)
|
1.7
|
|
|
|
|
|
|
|
|
|
|
As at
30.06.23
|
As at
31.12.22
|
As at
30.06.22
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
|
|
|
|
Total assets
|
18.5
|
19.2
|
19.8
|
|
|
|
|
Risk weighted assets
|
9.3
|
8.6
|
8.6
|
|
|
|
|
Period end allocated tangible equity
|
(1.5)
|
(0.2)
|
1.1
|
|
|
|
|
●
|
Loss before tax was £292m
(H122: £253m)
|
●
|
Total income was an expense of £122m (H122: £109m expense) primarily reflecting hedge
accounting and treasury items. The prior year included a one-off
gain of £86m from the sale and leaseback of UK data
centres
|
●
|
Total operating expenses were £150m (H122: £145m)
|
●
|
RWAs were £9.3bn (December
2022: £8.6bn)
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q4211
|
Q3211
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Net interest income
|
3,270
|
3,053
|
|
2,741
|
3,068
|
2,422
|
2,341
|
|
2,230
|
1,940
|
Net fee, commission and other income
|
3,015
|
4,184
|
|
3,060
|
2,883
|
4,286
|
4,155
|
|
2,930
|
3,525
|
Total income
|
6,285
|
7,237
|
|
5,801
|
5,951
|
6,708
|
6,496
|
|
5,160
|
5,465
|
Operating costs
|
(3,919)
|
(4,111)
|
|
(3,748)
|
(3,939)
|
(3,682)
|
(3,588)
|
|
(3,514)
|
(3,446)
|
UK bank levy
|
—
|
—
|
|
(176)
|
—
|
—
|
—
|
|
(170)
|
—
|
Litigation and conduct
|
(33)
|
1
|
|
(79)
|
339
|
(1,334)
|
(523)
|
|
(92)
|
(129)
|
Total operating expenses
|
(3,952)
|
(4,110)
|
|
(4,003)
|
(3,600)
|
(5,016)
|
(4,111)
|
|
(3,776)
|
(3,575)
|
Other net income/(expenses)
|
3
|
(5)
|
|
10
|
(1)
|
7
|
(10)
|
|
13
|
94
|
Profit before impairment
|
2,336
|
3,122
|
|
1,808
|
2,350
|
1,699
|
2,375
|
|
1,397
|
1,984
|
Credit impairment (charges)/releases
|
(372)
|
(524)
|
|
(498)
|
(381)
|
(200)
|
(141)
|
|
31
|
(120)
|
Profit before tax
|
1,964
|
2,598
|
|
1,310
|
1,969
|
1,499
|
2,234
|
|
1,428
|
1,864
|
Tax (charge)/credit
|
(353)
|
(561)
|
|
33
|
(249)
|
(209)
|
(614)
|
|
(104)
|
(292)
|
Profit after tax
|
1,611
|
2,037
|
|
1,343
|
1,720
|
1,290
|
1,620
|
|
1,324
|
1,572
|
Non-controlling interests
|
(22)
|
(8)
|
|
(22)
|
(2)
|
(20)
|
(1)
|
|
(27)
|
(1)
|
Other equity instrument holders
|
(261)
|
(246)
|
|
(285)
|
(206)
|
(199)
|
(215)
|
|
(218)
|
(197)
|
Attributable profit
|
1,328
|
1,783
|
|
1,036
|
1,512
|
1,071
|
1,404
|
|
1,079
|
1,374
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
11.4%
|
15.0%
|
|
8.9%
|
12.5%
|
8.7%
|
11.5%
|
|
9.0%
|
11.4%
|
Average tangible shareholders' equity (£bn)
|
46.7
|
47.6
|
|
46.7
|
48.6
|
49.0
|
48.8
|
|
48.0
|
48.3
|
Cost: income ratio
|
63%
|
57%
|
|
69%
|
60%
|
75%
|
63%
|
|
73%
|
65%
|
Loan loss rate (bps)
|
37
|
52
|
|
49
|
36
|
20
|
15
|
|
(3)
|
13
|
Basic earnings per share
|
8.6p
|
11.3p
|
|
6.5p
|
9.4p
|
6.4p
|
8.4p
|
|
6.4p
|
8.0p
|
Basic weighted average number of shares (m)
|
15,523
|
15,770
|
|
15,828
|
16,148
|
16,684
|
16,682
|
|
16,985
|
17,062
|
Period end number of shares (m)
|
15,556
|
15,701
|
|
15,871
|
15,888
|
16,531
|
16,762
|
|
16,752
|
16,851
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet and capital management2
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
337.4
|
343.6
|
|
343.3
|
346.3
|
337.2
|
325.8
|
|
319.9
|
313.5
|
Loans and advances to banks at amortised cost
|
10.9
|
11.0
|
|
10.0
|
12.5
|
12.5
|
11.4
|
|
9.7
|
10.6
|
Debt securities at amortised cost
|
53.1
|
48.9
|
|
45.5
|
54.8
|
46.1
|
34.5
|
|
31.8
|
28.9
|
Loans and advances at amortised cost
|
401.4
|
403.5
|
|
398.8
|
413.7
|
395.8
|
371.7
|
|
361.5
|
353.0
|
Loans and advances at amortised cost impairment coverage
ratio
|
1.4%
|
1.4%
|
|
1.4%
|
1.4%
|
1.4%
|
1.5%
|
|
1.6%
|
1.7%
|
Total assets
|
1,549.7
|
1,539.1
|
|
1,513.7
|
1,726.9
|
1,589.2
|
1,496.1
|
|
1,384.3
|
1,406.5
|
Deposits at amortised cost
|
554.7
|
555.7
|
|
545.8
|
574.4
|
568.7
|
546.5
|
|
519.4
|
510.2
|
Tangible net asset value per share
|
291p
|
301p
|
|
295p
|
286p
|
297p
|
294p
|
|
291p
|
286p
|
Common equity tier 1 ratio
|
13.8%
|
13.6%
|
|
13.9%
|
13.8%
|
13.6%
|
13.8%
|
|
15.1%
|
15.3%
|
Common equity tier 1 capital
|
46.6
|
46.0
|
|
46.9
|
48.6
|
46.7
|
45.3
|
|
47.3
|
47.2
|
Risk weighted assets
|
336.9
|
338.4
|
|
336.5
|
350.8
|
344.5
|
328.8
|
|
314.1
|
307.7
|
UK leverage ratio
|
5.1%
|
5.1%
|
|
5.3%
|
5.0%
|
5.1%
|
5.0%
|
|
5.2%
|
5.1%
|
UK leverage exposure
|
1,183.7
|
1,168.9
|
|
1,130.0
|
1,232.1
|
1,151.2
|
1,123.5
|
|
1,137.9
|
1,162.7
|
|
|
|
|
|
|
|
|
|
|
|
Funding and liquidity
|
|
|
|
|
|
|
|
|
|
|
Group liquidity pool (£bn)
|
330.7
|
333.0
|
|
318.0
|
325.8
|
342.5
|
319.8
|
|
291.0
|
292.8
|
Liquidity coverage ratio
|
158%
|
163%
|
|
165%
|
151%
|
156%
|
159%
|
|
168%
|
161%
|
Net
stable funding ratio3
|
139%
|
139%
|
|
137%
|
|
|
|
|
|
|
Loan: deposit ratio
|
72%
|
73%
|
|
73%
|
72%
|
70%
|
68%
|
|
70%
|
69%
|
1
|
The comparative capital and financial metrics relating to Q321 and
Q421 have been restated to reflect the impact of the Over-issuance
of Securities.
|
2
|
Refer to pages 54 to 59 for
further information on how capital, RWAs and leverage are
calculated.
|
3.
|
Represents average of the last four spot quarter end
positions
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q421
|
Q321
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Net interest income
|
1,660
|
1,618
|
|
1,600
|
1,561
|
1,393
|
1,339
|
|
1,313
|
1,303
|
Net fee, commission and other income
|
301
|
343
|
|
370
|
355
|
331
|
310
|
|
386
|
335
|
Total income
|
1,961
|
1,961
|
|
1,970
|
1,916
|
1,724
|
1,649
|
|
1,699
|
1,638
|
Operating costs
|
(1,090)
|
(1,092)
|
|
(1,108)
|
(1,069)
|
(1,085)
|
(998)
|
|
(1,202)
|
(1,041)
|
UK bank levy
|
—
|
—
|
|
(26)
|
—
|
—
|
—
|
|
(36)
|
—
|
Litigation and conduct
|
5
|
(2)
|
|
(13)
|
(3)
|
(16)
|
(9)
|
|
(5)
|
(10)
|
Total operating expenses
|
(1,085)
|
(1,094)
|
|
(1,147)
|
(1,072)
|
(1,101)
|
(1,007)
|
|
(1,243)
|
(1,051)
|
Other net income/(expenses)
|
—
|
—
|
|
1
|
(1)
|
—
|
—
|
|
(1)
|
1
|
Profit before impairment
|
876
|
867
|
|
824
|
843
|
623
|
642
|
|
455
|
588
|
Credit impairment (charges)/releases
|
(95)
|
(113)
|
|
(157)
|
(81)
|
—
|
(48)
|
|
59
|
(137)
|
Profit before tax
|
781
|
754
|
|
667
|
762
|
623
|
594
|
|
514
|
451
|
Attributable profit
|
534
|
515
|
|
474
|
549
|
458
|
396
|
|
420
|
317
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
206.8
|
208.2
|
|
205.1
|
205.1
|
205.9
|
207.3
|
|
208.8
|
208.6
|
Total assets
|
304.8
|
308.6
|
|
313.2
|
316.8
|
318.8
|
317.2
|
|
321.2
|
312.1
|
Customer deposits at amortised cost
|
249.8
|
254.3
|
|
258.0
|
261.0
|
261.5
|
260.3
|
|
260.6
|
256.8
|
Loan: deposit ratio
|
90%
|
90%
|
|
87%
|
86%
|
85%
|
85%
|
|
85%
|
86%
|
Risk weighted assets
|
73.0
|
74.6
|
|
73.1
|
73.2
|
72.2
|
72.7
|
|
72.3
|
73.2
|
Period end allocated tangible equity
|
10.1
|
10.3
|
|
10.1
|
10.1
|
9.9
|
10.1
|
|
10.0
|
10.0
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
20.9%
|
20.0%
|
|
18.7%
|
22.1%
|
18.4%
|
15.6%
|
|
16.8%
|
12.7%
|
Average allocated tangible equity (£bn)
|
10.2
|
10.3
|
|
10.2
|
9.9
|
10.0
|
10.1
|
|
10.0
|
10.0
|
Cost: income ratio
|
55%
|
56%
|
|
58%
|
56%
|
64%
|
61%
|
|
73%
|
64%
|
Loan loss rate (bps)
|
17
|
20
|
|
27
|
14
|
—
|
9
|
|
(10)
|
24
|
Net interest margin
|
3.22%
|
3.18%
|
|
3.10%
|
3.01%
|
2.71%
|
2.62%
|
|
2.49%
|
2.49%
|
Analysis of Barclays UK
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q421
|
Q321
|
Analysis of total income
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Personal Banking
|
1,244
|
1,253
|
|
1,229
|
1,212
|
1,077
|
1,022
|
|
983
|
990
|
Barclaycard Consumer UK
|
237
|
247
|
|
269
|
283
|
265
|
276
|
|
352
|
293
|
Business Banking
|
480
|
461
|
|
472
|
421
|
382
|
351
|
|
364
|
355
|
Total income
|
1,961
|
1,961
|
|
1,970
|
1,916
|
1,724
|
1,649
|
|
1,699
|
1,638
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of credit impairment (charges)/releases
|
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
(92)
|
(28)
|
|
(120)
|
(26)
|
(42)
|
21
|
|
8
|
(30)
|
Barclaycard Consumer UK
|
(35)
|
(83)
|
|
(12)
|
2
|
84
|
(44)
|
|
114
|
(108)
|
Business Banking
|
32
|
(2)
|
|
(25)
|
(57)
|
(42)
|
(25)
|
|
(63)
|
1
|
Total credit impairment (charges)/releases
|
(95)
|
(113)
|
|
(157)
|
(81)
|
—
|
(48)
|
|
59
|
(137)
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Personal Banking
|
173.3
|
173.6
|
|
169.7
|
168.7
|
167.1
|
166.5
|
|
165.4
|
164.6
|
Barclaycard Consumer UK
|
9.3
|
9.0
|
|
9.2
|
9.0
|
8.8
|
8.4
|
|
8.7
|
8.6
|
Business Banking
|
24.2
|
25.6
|
|
26.2
|
27.4
|
30.0
|
32.4
|
|
34.7
|
35.4
|
Total loans and advances to customers at amortised
cost
|
206.8
|
208.2
|
|
205.1
|
205.1
|
205.9
|
207.3
|
|
208.8
|
208.6
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
191.1
|
194.3
|
|
195.6
|
197.3
|
197.0
|
196.6
|
|
196.4
|
193.3
|
Barclaycard Consumer UK
|
—
|
—
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
Business Banking
|
58.7
|
60.0
|
|
62.4
|
63.7
|
64.5
|
63.7
|
|
64.2
|
63.5
|
Total customer deposits at amortised cost
|
249.8
|
254.3
|
|
258.0
|
261.0
|
261.5
|
260.3
|
|
260.6
|
256.8
|
Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q4211
|
Q3211
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Net interest income
|
1,730
|
1,354
|
|
1,465
|
1,497
|
1,029
|
936
|
|
955
|
749
|
Net trading income
|
1,278
|
2,419
|
|
1,169
|
1,328
|
2,766
|
2,446
|
|
789
|
1,515
|
Net fee, commission and other income
|
1,432
|
1,509
|
|
1,228
|
1,240
|
1,321
|
1,442
|
|
1,766
|
1,673
|
Total income
|
4,440
|
5,282
|
|
3,862
|
4,065
|
5,116
|
4,824
|
|
3,510
|
3,937
|
Operating costs
|
(2,747)
|
(2,956)
|
|
(2,543)
|
(2,776)
|
(2,537)
|
(2,505)
|
|
(2,160)
|
(2,310)
|
UK bank levy
|
—
|
—
|
|
(133)
|
—
|
—
|
—
|
|
(134)
|
—
|
Litigation and conduct
|
(33)
|
3
|
|
(67)
|
396
|
(1,319)
|
(513)
|
|
(84)
|
(100)
|
Total operating expenses
|
(2,780)
|
(2,953)
|
|
(2,743)
|
(2,380)
|
(3,856)
|
(3,018)
|
|
(2,378)
|
(2,410)
|
Other net income
|
6
|
3
|
|
5
|
10
|
5
|
8
|
|
3
|
15
|
Profit before impairment
|
1,666
|
2,332
|
|
1,124
|
1,695
|
1,265
|
1,814
|
|
1,135
|
1,542
|
Credit impairment (charges)/releases
|
(275)
|
(404)
|
|
(328)
|
(295)
|
(209)
|
(101)
|
|
(23)
|
18
|
Profit before tax
|
1,391
|
1,928
|
|
796
|
1,400
|
1,056
|
1,713
|
|
1,112
|
1,560
|
Attributable profit
|
953
|
1,348
|
|
625
|
1,136
|
783
|
1,300
|
|
818
|
1,191
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
126.6
|
131.0
|
|
133.7
|
137.0
|
126.7
|
113.9
|
|
106.4
|
99.9
|
Loans and advances to banks at amortised cost
|
9.7
|
9.8
|
|
8.7
|
11.0
|
11.3
|
10.2
|
|
8.4
|
9.4
|
Debt securities at amortised cost
|
35.2
|
30.8
|
|
27.2
|
36.2
|
29.3
|
20.7
|
|
19.0
|
16.6
|
Loans and advances at amortised cost
|
171.5
|
171.6
|
|
169.6
|
184.2
|
167.3
|
144.8
|
|
133.8
|
125.9
|
Trading portfolio assets
|
165.1
|
137.7
|
|
133.8
|
126.3
|
126.9
|
134.1
|
|
146.9
|
144.8
|
Derivative financial instrument assets
|
264.9
|
256.6
|
|
301.7
|
415.7
|
343.5
|
288.8
|
|
261.5
|
257.0
|
Financial assets at fair value through the income
statement
|
232.2
|
245.0
|
|
210.5
|
244.7
|
209.3
|
203.8
|
|
188.2
|
200.5
|
Cash collateral and settlement balances
|
123.9
|
125.5
|
|
107.7
|
163.3
|
128.5
|
132.0
|
|
88.1
|
115.9
|
Other assets
|
268.8
|
275.0
|
|
258.0
|
257.2
|
275.1
|
255.5
|
|
225.6
|
231.8
|
Total assets
|
1,226.4
|
1,211.4
|
|
1,181.3
|
1,391.4
|
1,250.6
|
1,159.0
|
|
1,044.1
|
1,075.9
|
Deposits at amortised cost
|
305.0
|
301.6
|
|
287.6
|
313.2
|
307.4
|
286.1
|
|
258.8
|
253.3
|
Derivative financial instrument liabilities
|
254.5
|
246.7
|
|
288.9
|
394.2
|
321.2
|
277.2
|
|
256.4
|
252.3
|
Loan: deposit ratio
|
56%
|
57%
|
|
59%
|
59%
|
54%
|
51%
|
|
52%
|
50%
|
Risk weighted assets
|
254.6
|
255.1
|
|
254.8
|
269.3
|
263.8
|
245.1
|
|
230.9
|
222.7
|
Period end allocated tangible equity
|
36.7
|
36.8
|
|
36.8
|
38.8
|
38.0
|
35.6
|
|
33.2
|
31.8
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
10.3%
|
14.5%
|
|
6.4%
|
11.6%
|
8.4%
|
14.8%
|
|
9.9%
|
14.9%
|
Average allocated tangible equity (£bn)
|
37.1
|
37.1
|
|
38.9
|
39.1
|
37.3
|
35.1
|
|
32.9
|
31.8
|
Cost: income ratio
|
63%
|
56%
|
|
71%
|
59%
|
75%
|
63%
|
|
68%
|
61%
|
Loan loss rate (bps)
|
63
|
94
|
|
75
|
62
|
49
|
28
|
|
7
|
(6)
|
Net
interest margin2
|
5.85%
|
5.87%
|
|
5.71%
|
5.58%
|
4.41%
|
4.15%
|
|
4.14%
|
4.02%
|
1
|
The comparative capital and financial metrics relating to Q321 and
Q421 have been restated to reflect the impact of the Over-issuance
of Securities.
|
2
|
CIB and Barclays International margins include the lending related
investment bank business.
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q4211
|
Q3211
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Net interest income
|
856
|
465
|
|
548
|
606
|
410
|
385
|
|
432
|
279
|
Net trading income
|
1,353
|
2,437
|
|
1,201
|
1,344
|
2,738
|
2,450
|
|
774
|
1,467
|
Net fee, commission and other income
|
953
|
1,074
|
|
827
|
871
|
885
|
1,103
|
|
1,426
|
1,383
|
Total income
|
3,162
|
3,976
|
|
2,576
|
2,821
|
4,033
|
3,938
|
|
2,632
|
3,129
|
Operating costs
|
(1,984)
|
(2,202)
|
|
(1,796)
|
(2,043)
|
(1,870)
|
(1,921)
|
|
(1,562)
|
(1,747)
|
UK bank levy
|
—
|
—
|
|
(126)
|
—
|
—
|
—
|
|
(128)
|
—
|
Litigation and conduct
|
(1)
|
3
|
|
(55)
|
498
|
(1,314)
|
(318)
|
|
(59)
|
(99)
|
Total operating expenses
|
(1,985)
|
(2,199)
|
|
(1,977)
|
(1,545)
|
(3,184)
|
(2,239)
|
|
(1,749)
|
(1,846)
|
Other net income
|
1
|
—
|
|
2
|
—
|
—
|
—
|
|
1
|
—
|
Profit before impairment
|
1,178
|
1,777
|
|
601
|
1,276
|
849
|
1,699
|
|
884
|
1,283
|
Credit impairment releases/(charges)
|
13
|
(33)
|
|
(41)
|
(46)
|
(65)
|
33
|
|
73
|
128
|
Profit before tax
|
1,191
|
1,744
|
|
560
|
1,230
|
784
|
1,732
|
|
957
|
1,411
|
Attributable profit
|
798
|
1,209
|
|
454
|
1,015
|
579
|
1,316
|
|
695
|
1,085
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
84.8
|
89.2
|
|
90.5
|
93.6
|
86.5
|
79.5
|
|
73.4
|
68.3
|
Loans and advances to banks at amortised cost
|
9.0
|
9.2
|
|
8.1
|
10.2
|
10.0
|
9.4
|
|
7.6
|
8.9
|
Debt securities at amortised cost
|
35.1
|
30.7
|
|
27.2
|
36.2
|
29.3
|
20.7
|
|
19.0
|
16.6
|
Loans and advances at amortised cost
|
128.9
|
129.1
|
|
125.8
|
140.0
|
125.8
|
109.6
|
|
100.0
|
93.8
|
Trading portfolio assets
|
165.0
|
137.6
|
|
133.7
|
126.1
|
126.7
|
134.0
|
|
146.7
|
144.7
|
Derivative financial instruments assets
|
264.8
|
256.5
|
|
301.6
|
415.5
|
343.4
|
288.7
|
|
261.5
|
256.9
|
Financial assets at fair value through the income
statement
|
232.1
|
244.9
|
|
210.5
|
244.6
|
209.2
|
203.8
|
|
188.1
|
200.4
|
Cash collateral and settlement balances
|
122.5
|
124.7
|
|
106.9
|
162.6
|
127.7
|
131.2
|
|
87.2
|
115.1
|
Other assets
|
224.6
|
230.3
|
|
222.6
|
220.6
|
237.2
|
222.5
|
|
195.8
|
200.4
|
Total assets
|
1,137.9
|
1,123.1
|
|
1,101.1
|
1,309.4
|
1,170.0
|
1,089.8
|
|
979.3
|
1,011.3
|
Deposits at amortised cost
|
225.5
|
221.0
|
|
205.8
|
229.5
|
229.5
|
214.7
|
|
189.4
|
185.8
|
Derivative financial instrument liabilities
|
254.5
|
246.7
|
|
288.9
|
394.2
|
321.2
|
277.1
|
|
256.4
|
252.2
|
Risk weighted assets
|
216.5
|
216.8
|
|
215.9
|
230.6
|
227.6
|
213.5
|
|
200.7
|
192.5
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
10.0%
|
15.2%
|
|
5.4%
|
11.9%
|
7.1%
|
17.1%
|
|
9.7%
|
15.6%
|
Average allocated tangible equity (£bn)
|
31.8
|
31.8
|
|
33.7
|
34.0
|
32.7
|
30.8
|
|
28.7
|
27.8
|
Cost: income ratio
|
63%
|
55%
|
|
77%
|
55%
|
79%
|
57%
|
|
66%
|
59%
|
Loan loss rate (bps)
|
(4)
|
10
|
|
13
|
13
|
20
|
(12)
|
|
(29)
|
(54)
|
Net
interest margin2
|
3.98%
|
3.95%
|
|
3.73%
|
3.56%
|
2.88%
|
2.52%
|
|
2.67%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of total income
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
FICC
|
1,186
|
1,788
|
|
976
|
1,546
|
1,529
|
1,644
|
|
546
|
803
|
Equities
|
563
|
704
|
|
440
|
246
|
1,411
|
1,052
|
|
501
|
757
|
Global Markets
|
1,749
|
2,492
|
|
1,416
|
1,792
|
2,940
|
2,696
|
|
1,047
|
1,560
|
Advisory
|
130
|
212
|
|
197
|
150
|
236
|
185
|
|
287
|
253
|
Equity capital markets
|
69
|
50
|
|
40
|
42
|
37
|
47
|
|
158
|
186
|
Debt capital markets
|
273
|
341
|
|
243
|
341
|
281
|
416
|
|
511
|
532
|
Investment Banking fees
|
472
|
603
|
|
480
|
533
|
554
|
648
|
|
956
|
971
|
Corporate lending
|
168
|
95
|
|
(128)
|
(181)
|
(47)
|
125
|
|
176
|
168
|
Transaction banking
|
773
|
786
|
|
808
|
677
|
586
|
469
|
|
453
|
430
|
Corporate
|
941
|
881
|
|
680
|
496
|
539
|
594
|
|
629
|
598
|
Total income
|
3,162
|
3,976
|
|
2,576
|
2,821
|
4,033
|
3,938
|
|
2,632
|
3,129
|
1
|
The comparative capital and financial metrics relating to Q321 and
Q421 have been restated to reflect the impact of the Over-issuance
of Securities.
|
2
|
CIB and Barclays International margins include the lending related
investment bank business.
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer, Cards and Payments
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q421
|
Q321
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Net interest income
|
874
|
889
|
|
918
|
891
|
619
|
551
|
|
522
|
471
|
Net fee, commission, trading and other income
|
404
|
417
|
|
368
|
353
|
464
|
335
|
|
356
|
337
|
Total income
|
1,278
|
1,306
|
|
1,286
|
1,244
|
1,083
|
886
|
|
878
|
808
|
Operating costs
|
(763)
|
(754)
|
|
(747)
|
(733)
|
(667)
|
(584)
|
|
(598)
|
(563)
|
UK bank levy
|
—
|
—
|
|
(7)
|
—
|
—
|
—
|
|
(6)
|
—
|
Litigation and conduct
|
(32)
|
—
|
|
(12)
|
(102)
|
(5)
|
(195)
|
|
(25)
|
(1)
|
Total operating expenses
|
(795)
|
(754)
|
|
(766)
|
(835)
|
(672)
|
(779)
|
|
(629)
|
(564)
|
Other net income
|
5
|
3
|
|
3
|
10
|
5
|
8
|
|
2
|
15
|
Profit before impairment
|
488
|
555
|
|
523
|
419
|
416
|
115
|
|
251
|
259
|
Credit impairment charges
|
(288)
|
(371)
|
|
(287)
|
(249)
|
(144)
|
(134)
|
|
(96)
|
(110)
|
Profit/(loss) before tax
|
200
|
184
|
|
236
|
170
|
272
|
(19)
|
|
155
|
149
|
Attributable profit/(loss)
|
155
|
139
|
|
171
|
121
|
204
|
(16)
|
|
123
|
106
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
41.7
|
41.8
|
|
43.2
|
43.4
|
40.2
|
34.4
|
|
33.0
|
31.6
|
Total assets
|
88.5
|
88.3
|
|
80.2
|
82.0
|
80.6
|
69.2
|
|
64.8
|
64.6
|
Deposits at amortised cost
|
79.5
|
80.6
|
|
81.8
|
83.7
|
77.9
|
71.4
|
|
69.4
|
67.5
|
Risk weighted assets
|
38.1
|
38.2
|
|
38.9
|
38.7
|
36.2
|
31.6
|
|
30.2
|
30.2
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
11.8%
|
10.5%
|
|
13.0%
|
9.5%
|
17.8%
|
(1.5)%
|
|
11.7%
|
10.5%
|
Average allocated tangible equity (£bn)
|
5.3
|
5.3
|
|
5.2
|
5.1
|
4.6
|
4.3
|
|
4.2
|
4.0
|
Cost: income ratio
|
62%
|
58%
|
|
60%
|
67%
|
62%
|
88%
|
|
72%
|
70%
|
Loan loss rate (bps)
|
255
|
332
|
|
245
|
211
|
132
|
145
|
|
105
|
127
|
Net interest margin
|
8.25%
|
8.42%
|
|
8.40%
|
8.41%
|
6.68%
|
6.56%
|
|
6.29%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of total income
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
International Cards and Consumer Bank
|
835
|
900
|
|
860
|
824
|
691
|
538
|
|
552
|
490
|
Private Bank
|
295
|
258
|
|
285
|
270
|
245
|
214
|
|
200
|
188
|
Payments
|
148
|
148
|
|
141
|
150
|
147
|
134
|
|
126
|
130
|
Total income
|
1,278
|
1,306
|
|
1,286
|
1,244
|
1,083
|
886
|
|
878
|
808
|
Head Office
|
|
|
|
|
|
|
|
|
|
|
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q421
|
Q321
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Net interest income
|
(120)
|
81
|
|
(324)
|
10
|
—
|
66
|
|
(38)
|
(112)
|
Net fee, commission and other income
|
4
|
(87)
|
|
293
|
(40)
|
(132)
|
(43)
|
|
(11)
|
2
|
Total income
|
(116)
|
(6)
|
|
(31)
|
(30)
|
(132)
|
23
|
|
(49)
|
(110)
|
Operating costs
|
(82)
|
(63)
|
|
(97)
|
(94)
|
(60)
|
(85)
|
|
(152)
|
(95)
|
UK bank levy
|
—
|
—
|
|
(17)
|
—
|
—
|
—
|
|
—
|
—
|
Litigation and conduct
|
(5)
|
—
|
|
1
|
(54)
|
1
|
(1)
|
|
(3)
|
(19)
|
Total operating expenses
|
(87)
|
(63)
|
|
(113)
|
(148)
|
(59)
|
(86)
|
|
(155)
|
(114)
|
Other net (expenses)/income
|
(3)
|
(8)
|
|
4
|
(10)
|
2
|
(18)
|
|
11
|
78
|
Loss before impairment
|
(206)
|
(77)
|
|
(140)
|
(188)
|
(189)
|
(81)
|
|
(193)
|
(146)
|
Credit impairment (charges)/releases
|
(2)
|
(7)
|
|
(13)
|
(5)
|
9
|
8
|
|
(5)
|
(1)
|
Loss before tax
|
(208)
|
(84)
|
|
(153)
|
(193)
|
(180)
|
(73)
|
|
(198)
|
(147)
|
Attributable loss
|
(159)
|
(80)
|
|
(63)
|
(173)
|
(170)
|
(292)
|
|
(159)
|
(134)
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Total assets
|
18.5
|
19.1
|
|
19.2
|
18.7
|
19.8
|
19.9
|
|
19.0
|
18.5
|
Risk
weighted assets1
|
9.3
|
8.8
|
|
8.6
|
8.2
|
8.6
|
11.0
|
|
11.0
|
11.8
|
Period
end allocated tangible equity1
|
(1.5)
|
0.2
|
|
(0.2)
|
(3.5)
|
1.1
|
3.6
|
|
5.5
|
6.3
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures1
|
|
|
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
(0.6)
|
0.2
|
|
(2.4)
|
(0.4)
|
1.7
|
3.6
|
|
5.1
|
6.5
|
1
|
The comparative capital and financial metrics relating to Q321 and
Q421 have been restated to reflect the impact of the Over-issuance
of Securities.
|
Margins and balances
|
||||||
|
Half year ended 30.06.23
|
Half year ended 30.06.22
|
||||
|
Net interest
income
|
Average
customer assets
|
Net interest
margin
|
Net interest
income
|
Average
customer assets
|
Net interest
margin
|
|
£m
|
£m
|
%
|
£m
|
£m
|
%
|
Barclays UK
|
3,278
|
206,653
|
3.20
|
2,732
|
206,524
|
2.67
|
Corporate and
Investment Bank1
|
1,091
|
55,504
|
3.96
|
713
|
52,991
|
2.71
|
Consumer,
Cards and Payments
|
1,763
|
42,673
|
8.33
|
1,170
|
35,616
|
6.63
|
Barclays
International1
|
2,854
|
98,177
|
5.86
|
1,883
|
88,607
|
4.29
|
Total Barclays UK and Barclays International
|
6,132
|
304,830
|
4.06
|
4,615
|
295,131
|
3.15
|
Other2
|
191
|
|
|
148
|
|
|
Total Barclays Group
|
6,323
|
|
|
4,763
|
|
|
1
|
CIB and Barclays International margins include the lending related
investment bank business.
|
2
|
Other includes Head Office and the non-lending related investment
bank businesses not included in Barclays International
margins.
|
Quarterly analysis for Barclays UK and Barclays
International
|
|
|
|||
|
|
|
|
|
|
|
Q223
|
Q123
|
Q422
|
Q322
|
Q222
|
Net interest income
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
1,660
|
1,618
|
1,600
|
1,561
|
1,393
|
Corporate and
Investment Bank1
|
540
|
551
|
556
|
529
|
397
|
Consumer,
Cards and Payments
|
874
|
889
|
918
|
891
|
619
|
Barclays
International1
|
1,414
|
1,440
|
1,474
|
1,420
|
1,016
|
Total Barclays UK and Barclays International
|
3,074
|
3,058
|
3,074
|
2,981
|
2,409
|
|
|
|
|
|
|
Average customer assets
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
207,073
|
206,241
|
204,941
|
205,881
|
205,834
|
Corporate and
Investment Bank1
|
54,417
|
56,612
|
59,146
|
58,891
|
55,181
|
Consumer,
Cards and Payments
|
42,503
|
42,840
|
43,319
|
42,019
|
37,190
|
Barclays
International1
|
96,920
|
99,452
|
102,465
|
100,910
|
92,371
|
Total Barclays UK and Barclays International
|
303,993
|
305,693
|
307,406
|
306,791
|
298,205
|
|
|
|
|
|
|
Net interest margin
|
%
|
%
|
%
|
%
|
%
|
Barclays UK
|
3.22
|
3.18
|
3.10
|
3.01
|
2.71
|
Corporate and
Investment Bank1
|
3.98
|
3.95
|
3.73
|
3.56
|
2.88
|
Consumer,
Cards and Payments
|
8.25
|
8.42
|
8.40
|
8.41
|
6.68
|
Barclays
International1
|
5.85
|
5.87
|
5.71
|
5.58
|
4.41
|
Total Barclays UK and Barclays International
|
4.06
|
4.06
|
3.97
|
3.85
|
3.24
|
1
|
CIB and Barclays International margins include the lending related
investment bank business.
|
|
Gross exposure
|
|
Impairment allowance
|
Net exposure
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
As at 30.06.23
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
164,741
|
23,408
|
2,390
|
190,539
|
|
324
|
669
|
507
|
1,500
|
189,039
|
Barclays International
|
32,431
|
4,645
|
1,954
|
39,030
|
|
365
|
1,211
|
1,144
|
2,720
|
36,310
|
Head Office
|
3,181
|
281
|
558
|
4,020
|
|
3
|
23
|
315
|
341
|
3,679
|
Total Barclays Group retail
|
200,353
|
28,334
|
4,902
|
233,589
|
|
692
|
1,903
|
1,966
|
4,561
|
229,028
|
Barclays UK
|
33,997
|
2,383
|
761
|
37,141
|
|
72
|
74
|
94
|
240
|
36,901
|
Barclays International
|
121,655
|
13,259
|
1,007
|
135,921
|
|
190
|
270
|
292
|
752
|
135,169
|
Head Office
|
307
|
—
|
17
|
324
|
|
—
|
—
|
17
|
17
|
307
|
Total Barclays Group wholesale
|
155,959
|
15,642
|
1,785
|
173,386
|
|
262
|
344
|
403
|
1,009
|
172,377
|
Total loans and advances at amortised cost
|
356,312
|
43,976
|
6,687
|
406,975
|
|
954
|
2,247
|
2,369
|
5,570
|
401,405
|
Off-balance
sheet loan commitments and financial guarantee
contracts1
|
364,839
|
28,637
|
1,262
|
394,738
|
|
200
|
308
|
41
|
549
|
394,189
|
Total2
|
721,151
|
72,613
|
7,949
|
801,713
|
|
1,154
|
2,555
|
2,410
|
6,119
|
795,594
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 30.06.23
|
|
Half year ended 30.06.23
|
|
||||||
|
Coverage ratio
|
|
Loan impairment charge/(release) and
loan loss rate
|
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Loan impairment
charge/(release)
|
Loan loss rate
|
|
||
|
%
|
%
|
%
|
%
|
|
£m
|
bps
|
|
||
Barclays UK
|
0.2
|
2.9
|
21.2
|
0.8
|
|
|
225
|
|
24
|
|
Barclays International
|
1.1
|
26.1
|
58.5
|
7.0
|
|
|
665
|
|
344
|
|
Head Office
|
0.1
|
8.2
|
56.5
|
8.5
|
|
|
9
|
|
45
|
|
Total Barclays Group retail
|
0.3
|
6.7
|
40.1
|
2.0
|
|
|
899
|
|
78
|
|
Barclays UK
|
0.2
|
3.1
|
12.4
|
0.6
|
|
|
(47)
|
|
|
|
Barclays International
|
0.2
|
2.0
|
29.0
|
0.6
|
|
|
58
|
|
9
|
|
Head Office
|
—
|
—
|
100.0
|
5.2
|
|
|
—
|
|
|
|
Total Barclays Group wholesale
|
0.2
|
2.2
|
22.6
|
0.6
|
|
|
11
|
|
1
|
|
Total loans and advances at amortised cost
|
0.3
|
5.1
|
35.4
|
1.4
|
|
|
910
|
|
45
|
|
Off-balance
sheet loan commitments and financial guarantee
contracts1
|
0.1
|
1.1
|
3.2
|
0.1
|
|
|
(25)
|
|
|
|
Other
financial assets subject to impairment2
|
|
|
|
|
|
|
11
|
|
|
|
Total3
|
0.2
|
3.5
|
30.3
|
0.8
|
|
|
896
|
|
|
|
1
|
Excludes loan commitments and financial guarantees of £12.3bn
carried at fair value.
|
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
and other assets. These have a total gross exposure of
£198.2bn and impairment allowance of £165m. This
comprises £18m ECL on £196.8bn Stage 1 assets, £12m
on £1.3bn Stage 2 fair value through other comprehensive
income assets, cash collateral and settlement balances and
£135m on £145m Stage 3 other assets.
|
3
|
The annualised loan loss rate is 44bps after applying the total
impairment charge of £896m.
|
|
Gross exposure
|
|
Impairment allowance
|
Net exposure
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
As at 31.12.22
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
160,424
|
24,837
|
2,711
|
187,972
|
|
232
|
718
|
485
|
1,435
|
186,537
|
Barclays International
|
33,735
|
4,399
|
1,793
|
39,927
|
|
392
|
1,200
|
949
|
2,541
|
37,386
|
Head Office
|
3,644
|
252
|
661
|
4,557
|
|
3
|
24
|
359
|
386
|
4,171
|
Total Barclays Group retail
|
197,803
|
29,488
|
5,165
|
232,456
|
|
627
|
1,942
|
1,793
|
4,362
|
228,094
|
Barclays UK
|
34,858
|
2,954
|
805
|
38,617
|
|
129
|
109
|
96
|
334
|
38,283
|
Barclays International
|
117,692
|
14,298
|
1,098
|
133,088
|
|
301
|
265
|
312
|
878
|
132,210
|
Head Office
|
192
|
—
|
18
|
210
|
|
—
|
—
|
18
|
18
|
192
|
Total Barclays Group wholesale
|
152,742
|
17,252
|
1,921
|
171,915
|
|
430
|
374
|
426
|
1,230
|
170,685
|
Total loans and advances at amortised cost
|
350,545
|
46,740
|
7,086
|
404,371
|
|
1,057
|
2,316
|
2,219
|
5,592
|
398,779
|
Off-balance
sheet loan commitments and financial guarantee
contracts1
|
372,945
|
30,694
|
1,180
|
404,819
|
|
245
|
315
|
23
|
583
|
404,236
|
Total2
|
723,490
|
77,434
|
8,266
|
809,190
|
|
1,302
|
2,631
|
2,242
|
6,175
|
803,015
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 31.12.22
|
|
Year ended 31.12.22
|
|
||||||
|
Coverage ratio
|
|
Loan impairment charge/(release) and
loan loss rate
|
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Loan impairment
charge/(release)
|
Loan loss rate
|
|
||
|
%
|
%
|
%
|
%
|
|
£m
|
bps
|
|
||
Barclays UK
|
0.1
|
2.9
|
17.9
|
0.8
|
|
|
169
|
|
9
|
|
Barclays International
|
1.2
|
27.3
|
52.9
|
6.4
|
|
|
763
|
|
191
|
|
Head Office
|
0.1
|
9.5
|
54.3
|
8.5
|
|
|
—
|
|
|
|
Total Barclays Group retail
|
0.3
|
6.6
|
34.7
|
1.9
|
|
|
932
|
|
40
|
|
Barclays UK
|
0.4
|
3.7
|
11.9
|
0.9
|
|
|
106
|
|
27
|
|
Barclays International
|
0.3
|
1.9
|
28.4
|
0.7
|
|
|
127
|
|
10
|
|
Head Office
|
—
|
—
|
100.0
|
8.6
|
|
|
—
|
|
|
|
Total Barclays Group wholesale
|
0.3
|
2.2
|
22.2
|
0.7
|
|
|
233
|
|
14
|
|
Total loans and advances at amortised cost
|
0.3
|
5.0
|
31.3
|
1.4
|
|
|
1,165
|
|
29
|
|
Off-balance
sheet loan commitments and financial guarantee
contracts1
|
0.1
|
1.0
|
1.9
|
0.1
|
|
|
18
|
|
|
|
Other
financial assets subject to impairment2
|
|
|
|
|
|
|
37
|
|
|
|
Total3
|
0.2
|
3.4
|
27.1
|
0.8
|
|
|
1,220
|
|
|
|
1
|
Excludes loan commitments and financial guarantees of £14.9bn
carried at fair value.
|
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
and other assets. These have a total gross exposure of
£180.1bn and impairment allowance of £163m. This
comprises £10m ECL on £178.4bn Stage 1 assets, £9m
on £1.5bn Stage 2 fair value through other comprehensive
income assets, cash collateral and settlement balances and
£144m on £149m Stage 3 other assets.
|
3
|
The annualised loan loss rate is 30bps after applying the total
impairment charge of £1,220m.
|
|
|
Stage 2
|
|
|
|||
As at 30.06.23
|
Stage 1
|
Not past due
|
<=30 days past due
|
>30 days past due
|
Total
|
Stage 3
|
Total
|
Gross exposure
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Retail mortgages
|
155,521
|
15,114
|
1,841
|
848
|
17,803
|
2,108
|
175,432
|
Retail credit cards
|
29,351
|
5,676
|
356
|
266
|
6,298
|
1,455
|
37,104
|
Retail other
|
10,677
|
1,252
|
92
|
286
|
1,630
|
520
|
12,827
|
Corporate loans
|
106,387
|
14,074
|
133
|
209
|
14,416
|
2,602
|
123,405
|
Debt
securities and other1
|
54,376
|
3,829
|
—
|
—
|
3,829
|
2
|
58,207
|
Total
|
356,312
|
39,945
|
2,422
|
1,609
|
43,976
|
6,687
|
406,975
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Retail mortgages
|
41
|
67
|
21
|
16
|
104
|
409
|
554
|
Retail credit cards
|
474
|
1,235
|
164
|
152
|
1,551
|
1,125
|
3,150
|
Retail other
|
81
|
122
|
22
|
27
|
171
|
246
|
498
|
Corporate loans
|
335
|
367
|
12
|
8
|
387
|
589
|
1,311
|
Debt
securities and other1
|
23
|
34
|
—
|
—
|
34
|
—
|
57
|
Total
|
954
|
1,825
|
219
|
203
|
2,247
|
2,369
|
5,570
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Retail mortgages
|
155,480
|
15,047
|
1,820
|
832
|
17,699
|
1,699
|
174,878
|
Retail credit cards
|
28,877
|
4,441
|
192
|
114
|
4,747
|
330
|
33,954
|
Retail other
|
10,596
|
1,130
|
70
|
259
|
1,459
|
274
|
12,329
|
Corporate loans
|
106,052
|
13,707
|
121
|
201
|
14,029
|
2,013
|
122,094
|
Debt
securities and other1
|
54,353
|
3,795
|
—
|
—
|
3,795
|
2
|
58,150
|
Total
|
355,358
|
38,120
|
2,203
|
1,406
|
41,729
|
4,318
|
401,405
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Retail mortgages
|
—
|
0.4
|
1.1
|
1.9
|
0.6
|
19.4
|
0.3
|
Retail credit cards
|
1.6
|
21.8
|
46.1
|
57.1
|
24.6
|
77.3
|
8.5
|
Retail other
|
0.8
|
9.7
|
23.9
|
9.4
|
10.5
|
47.3
|
3.9
|
Corporate loans
|
0.3
|
2.6
|
9.0
|
3.8
|
2.7
|
22.6
|
1.1
|
Debt
securities and other1
|
—
|
0.9
|
—
|
—
|
0.9
|
—
|
0.1
|
Total
|
0.3
|
4.6
|
9.0
|
12.6
|
5.1
|
35.4
|
1.4
|
1
|
Predominantly includes debt securities within Treasury and CIB,
these have a total gross exposure of £53.2bn and an impairment
allowance of £57m. Also includes loans and advances of
£4.5bn within Treasury and £0.5bn within Head Office,
which have an impairment allowance of £nil.
|
|
|
Stage 2
|
|
|
|||
As at 31.12.22
|
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
|
153,672
|
15,990
|
1,684
|
526
|
18,200
|
2,414
|
174,286
|
Retail credit cards
|
29,788
|
5,731
|
284
|
434
|
6,449
|
1,380
|
37,617
|
Retail other
|
13,470
|
1,232
|
104
|
132
|
1,468
|
720
|
15,658
|
Corporate loans
|
107,309
|
16,560
|
159
|
107
|
16,826
|
2,567
|
126,702
|
Debt
securities and other1
|
46,306
|
3,797
|
—
|
—
|
3,797
|
5
|
50,108
|
Total
|
350,545
|
43,310
|
2,231
|
1,199
|
46,740
|
7,086
|
404,371
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Retail mortgages
|
29
|
53
|
11
|
9
|
73
|
414
|
516
|
Retail credit cards
|
458
|
1,334
|
100
|
186
|
1,620
|
955
|
3,033
|
Retail other
|
100
|
118
|
22
|
26
|
166
|
308
|
574
|
Corporate loans
|
461
|
401
|
13
|
10
|
424
|
542
|
1,427
|
Debt
securities and other1
|
9
|
33
|
—
|
—
|
33
|
—
|
42
|
Total
|
1,057
|
1,939
|
146
|
231
|
2,316
|
2,219
|
5,592
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Retail mortgages
|
153,643
|
15,937
|
1,673
|
517
|
18,127
|
2,000
|
173,770
|
Retail credit cards
|
29,330
|
4,397
|
184
|
248
|
4,829
|
425
|
34,584
|
Retail other
|
13,370
|
1,114
|
82
|
106
|
1,302
|
412
|
15,084
|
Corporate loans
|
106,848
|
16,159
|
146
|
97
|
16,402
|
2,025
|
125,275
|
Debt
securities and other1
|
46,297
|
3,764
|
—
|
—
|
3,764
|
5
|
50,066
|
Total
|
349,488
|
41,371
|
2,085
|
968
|
44,424
|
4,867
|
398,779
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Retail mortgages
|
—
|
0.3
|
0.7
|
1.7
|
0.4
|
17.1
|
0.3
|
Retail credit cards
|
1.5
|
23.3
|
35.2
|
42.9
|
25.1
|
69.2
|
8.1
|
Retail other
|
0.7
|
9.6
|
21.2
|
19.7
|
11.3
|
42.8
|
3.7
|
Corporate loans
|
0.4
|
2.4
|
8.2
|
9.3
|
2.5
|
21.1
|
1.1
|
Debt
securities and other1
|
—
|
0.9
|
—
|
—
|
0.9
|
—
|
0.1
|
Total
|
0.3
|
4.5
|
6.5
|
19.3
|
5.0
|
31.3
|
1.4
|
1
|
Predominantly includes debt securities within Treasury and CIB,
these have a total gross exposure of £45.5bn and an impairment
allowance of £42m. Also includes loans and advances of
£4.1bn within Treasury and £0.5bn within Head Office,
which have an impairment allowance of £nil.
|
|
Gross exposure
|
|
Impairment allowance
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
As at 30.06.23
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Autos
|
911
|
182
|
41
|
1,134
|
|
3
|
4
|
7
|
14
|
Consumer manufacture
|
4,046
|
1,351
|
231
|
5,628
|
|
20
|
37
|
49
|
106
|
Discretionary retail and wholesale
|
4,432
|
1,394
|
174
|
6,000
|
|
29
|
30
|
37
|
96
|
Hospitality and leisure
|
3,654
|
1,349
|
324
|
5,327
|
|
23
|
24
|
59
|
106
|
Passenger travel
|
733
|
194
|
39
|
966
|
|
6
|
7
|
13
|
26
|
Real estate
|
13,637
|
2,423
|
495
|
16,555
|
|
53
|
46
|
116
|
215
|
Steel and aluminium manufacturers
|
453
|
154
|
28
|
635
|
|
4
|
2
|
19
|
25
|
Total
|
27,866
|
7,047
|
1,332
|
36,245
|
|
138
|
150
|
300
|
588
|
Total of corporate exposures (%)
|
26%
|
49%
|
51%
|
29%
|
|
41%
|
39%
|
51%
|
45%
|
|
|
|
|
|
|
|
|
|
|
|
Gross exposure
|
|
Impairment allowance
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
As at 31.12.22
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Autos
|
881
|
194
|
31
|
1,106
|
|
6
|
5
|
6
|
17
|
Consumer manufacture
|
3,845
|
1,729
|
199
|
5,773
|
|
45
|
41
|
46
|
132
|
Discretionary retail and wholesale
|
5,143
|
1,711
|
249
|
7,103
|
|
41
|
37
|
51
|
129
|
Hospitality and leisure
|
3,902
|
1,316
|
429
|
5,647
|
|
40
|
31
|
70
|
141
|
Passenger travel
|
744
|
267
|
51
|
1,062
|
|
9
|
7
|
13
|
29
|
Real estate
|
13,042
|
3,049
|
499
|
16,590
|
|
91
|
66
|
123
|
280
|
Steel and aluminium manufacturers
|
486
|
85
|
18
|
589
|
|
7
|
1
|
8
|
16
|
Total
|
28,043
|
8,351
|
1,476
|
37,870
|
|
239
|
188
|
317
|
744
|
Total of corporate exposures (%)
|
26%
|
50%
|
57%
|
30%
|
|
52%
|
44%
|
58%
|
52%
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
||||
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Gross exposure
|
ECL
|
Retail mortgages
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2023
|
153,672
|
29
|
18,200
|
73
|
2,414
|
414
|
174,286
|
516
|
Transfers from Stage 1 to Stage 2
|
(5,762)
|
(1)
|
5,762
|
1
|
—
|
—
|
—
|
—
|
Transfers from Stage 2 to Stage 1
|
5,086
|
15
|
(5,086)
|
(15)
|
—
|
—
|
—
|
—
|
Transfers to Stage 3
|
(145)
|
—
|
(141)
|
(9)
|
286
|
9
|
—
|
—
|
Transfers from Stage 3
|
18
|
1
|
80
|
1
|
(98)
|
(2)
|
—
|
—
|
Business
activity in the period1
|
14,681
|
9
|
361
|
3
|
6
|
5
|
15,048
|
17
|
Refinements to models used for calculation
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(6,695)
|
(11)
|
(589)
|
53
|
(300)
|
(2)
|
(7,584)
|
40
|
Final repayments
|
(5,334)
|
(1)
|
(784)
|
(3)
|
(190)
|
(5)
|
(6,308)
|
(9)
|
Disposals
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
Write-offs
|
—
|
—
|
—
|
—
|
(10)
|
(10)
|
(10)
|
(10)
|
As at 30 June 2023
|
155,521
|
41
|
17,803
|
104
|
2,108
|
409
|
175,432
|
554
|
|
|
|
|
|
|
|
|
|
Retail credit cards
|
||||||||
As at 1 January 2023
|
29,788
|
458
|
6,449
|
1,620
|
1,380
|
955
|
37,617
|
3,033
|
Transfers from Stage 1 to Stage 2
|
(2,037)
|
(57)
|
2,037
|
57
|
—
|
—
|
—
|
—
|
Transfers from Stage 2 to Stage 1
|
1,789
|
429
|
(1,789)
|
(429)
|
—
|
—
|
—
|
—
|
Transfers to Stage 3
|
(239)
|
(13)
|
(531)
|
(255)
|
770
|
268
|
—
|
—
|
Transfers from Stage 3
|
12
|
7
|
6
|
3
|
(18)
|
(10)
|
—
|
—
|
Business activity in the period
|
1,290
|
25
|
97
|
25
|
2
|
1
|
1,389
|
51
|
Refinements
to models used for calculation2
|
—
|
—
|
—
|
—
|
—
|
(20)
|
—
|
(20)
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(1,128)
|
(360)
|
67
|
571
|
(152)
|
424
|
(1,213)
|
635
|
Final repayments
|
(124)
|
(15)
|
(38)
|
(41)
|
(12)
|
(13)
|
(174)
|
(69)
|
Disposals3
|
—
|
—
|
—
|
—
|
(91)
|
(56)
|
(91)
|
(56)
|
Write-offs
|
—
|
—
|
—
|
—
|
(424)
|
(424)
|
(424)
|
(424)
|
As at 30 June 2023
|
29,351
|
474
|
6,298
|
1,551
|
1,455
|
1,125
|
37,104
|
3,150
|
1
|
Business activity in the period reported within Retail mortgages
includes an acquisition of Kensington Mortgage Company in UK
Mortgages of £2.4bn.
|
2
|
Refinements to models used for calculation reported within Retail
credit cards include a £20m movement in US cards. These
reflect model enhancements made during the year. Barclays
continually reviews the output of models to determine accuracy of
the ECL calculation including review of model monitoring, external
benchmarking and experience of model operation over an extended
period of time. This helps to ensure that the models used continue
to reflect the risks inherent across the businesses.
|
3
|
The £91m disposals reported within Retail credit cards relates
to debt sales undertaken during the year.
|
Loans and advances at amortised cost
|
|
|
|
|
|
|
||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
||||
|
Gross
exposure
|
ECL
|
Gross
exposure
|
ECL
|
Gross
exposure
|
ECL
|
Gross
exposure
|
ECL
|
Retail other
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2023
|
13,470
|
100
|
1,468
|
166
|
720
|
308
|
15,658
|
574
|
Transfers from Stage 1 to Stage 2
|
(890)
|
(12)
|
890
|
12
|
—
|
—
|
—
|
—
|
Transfers from Stage 2 to Stage 1
|
392
|
30
|
(392)
|
(30)
|
—
|
—
|
—
|
—
|
Transfers to Stage 3
|
(86)
|
(3)
|
(107)
|
(35)
|
193
|
38
|
—
|
—
|
Transfers from Stage 3
|
10
|
2
|
11
|
4
|
(21)
|
(6)
|
—
|
—
|
Business activity in the period
|
2,481
|
16
|
53
|
8
|
9
|
5
|
2,543
|
29
|
Refinements to models used for calculation
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(3,350)
|
(47)
|
(187)
|
50
|
(151)
|
27
|
(3,688)
|
30
|
Final repayments
|
(1,350)
|
(5)
|
(106)
|
(4)
|
(75)
|
(17)
|
(1,531)
|
(26)
|
Disposals1
|
—
|
—
|
—
|
—
|
(98)
|
(52)
|
(98)
|
(52)
|
Write-offs
|
—
|
—
|
—
|
—
|
(57)
|
(57)
|
(57)
|
(57)
|
As at 30 June 2023
|
10,677
|
81
|
1,630
|
171
|
520
|
246
|
12,827
|
498
|
|
|
|
|
|
|
|
|
|
Corporate loans
|
|
|
|
|
|
|
|
|
As at 1 January 2023
|
107,309
|
461
|
16,826
|
424
|
2,567
|
542
|
126,702
|
1,427
|
Transfers from Stage 1 to Stage 2
|
(5,875)
|
(31)
|
5,875
|
31
|
—
|
—
|
—
|
—
|
Transfers from Stage 2 to Stage 1
|
6,102
|
99
|
(6,102)
|
(99)
|
—
|
—
|
—
|
—
|
Transfers to Stage 3
|
(370)
|
(3)
|
(584)
|
(22)
|
954
|
25
|
—
|
—
|
Transfers from Stage 3
|
109
|
8
|
195
|
12
|
(304)
|
(20)
|
—
|
—
|
Business activity in the period
|
11,281
|
24
|
355
|
14
|
123
|
17
|
11,759
|
55
|
Refinements
to models used for calculation2
|
—
|
(49)
|
—
|
142
|
—
|
—
|
—
|
93
|
Net
drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes3
|
1,521
|
(105)
|
(1,422)
|
(93)
|
(379)
|
225
|
(280)
|
27
|
Final repayments
|
(13,690)
|
(69)
|
(727)
|
(22)
|
(157)
|
(13)
|
(14,574)
|
(104)
|
Disposals1
|
—
|
—
|
—
|
—
|
(110)
|
(95)
|
(110)
|
(95)
|
Write-offs
|
—
|
—
|
—
|
—
|
(92)
|
(92)
|
(92)
|
(92)
|
As at 30 June 2023
|
106,387
|
335
|
14,416
|
387
|
2,602
|
589
|
123,405
|
1,311
|
1
|
The £98m disposals reported within Retail other includes
£64m part sale of Wealth portfolio in Italy and £34m
relates to debt sales undertaken during the year. The £110m
disposals reported within Corporate loans relates to debt sales
undertaken during the year.
|
2
|
Refinements to models used for calculation reported within
Corporate loans include a £93m movement in Corporate and
Investment Bank. These reflect model enhancements made during the
year. Barclays continually reviews the output of models to
determine accuracy of the ECL calculation including review of model
monitoring, external benchmarking and experience of model operation
over an extended period of time. This helps to ensure that the
models used continue to reflect the risks inherent across the
businesses.
|
3
|
'Net drawdowns, repayments, net re-measurement and movements due to
exposure and risk parameter changes' reported within Corporate
loans also include assets of £0.5bn de-recognised due to
payment received on defaulted loans from government guarantees
issued under government’s Bounce Back Loan
Scheme.
|
Loans and advances at amortised cost
|
|
|
|
|
|
|
||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
||||
|
Gross
exposure
|
ECL
|
Gross
exposure
|
ECL
|
Gross
exposure
|
ECL
|
Gross
exposure
|
ECL
|
Debt securities and other
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2023
|
46,306
|
9
|
3,797
|
33
|
5
|
—
|
50,108
|
42
|
Transfers from Stage 1 to Stage 2
|
(260)
|
—
|
260
|
—
|
—
|
—
|
—
|
—
|
Transfers from Stage 2 to Stage 1
|
118
|
2
|
(118)
|
(2)
|
—
|
—
|
—
|
—
|
Transfers to Stage 3
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
Transfers from Stage 3
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
Business activity in the period
|
15,435
|
3
|
140
|
2
|
2
|
—
|
15,577
|
5
|
Refinements to models used for calculation
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(2,087)
|
9
|
(82)
|
3
|
—
|
—
|
(2,169)
|
12
|
Final repayments
|
(5,136)
|
—
|
(168)
|
(2)
|
(5)
|
—
|
(5,309)
|
(2)
|
Disposals
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
Write-offs
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
As at 30 June 2023
|
54,376
|
23
|
3,829
|
34
|
2
|
—
|
58,207
|
57
|
Reconciliation of ECL movement to impairment charge/(release) for
the period
|
|
|||||||
|
|
|
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
|
|
|
|
£m
|
£m
|
£m
|
£m
|
Retail mortgages
|
12
|
31
|
5
|
48
|
||||
Retail credit cards
|
16
|
(69)
|
650
|
597
|
||||
Retail other
|
(19)
|
5
|
47
|
33
|
||||
Corporate loans
|
(126)
|
(37)
|
234
|
71
|
||||
Debt securities and other
|
14
|
1
|
—
|
15
|
||||
ECL movement excluding assets derecognised due to disposals and
write-offs1
|
(103)
|
(69)
|
936
|
764
|
||||
ECL
movement on loan
commitments and other financial guarantees
|
(45)
|
(7)
|
18
|
(34)
|
||||
ECL
movement on other financial assets
|
8
|
3
|
(9)
|
2
|
||||
Recoveries
and reimbursements2
|
62
|
(29)
|
(51)
|
(18)
|
||||
Total
exchange and other adjustments
|
|
|
|
182
|
||||
Total income statement charge for the period
|
|
|
|
896
|
1
|
In H123, gross write-offs amounted to £583m (H122:
£768m). Post write-off recoveries amounted to £21m (H122:
£36m). Net write-offs represent gross write-offs less post
write-off recoveries and amounted to £562m (H122:
£732m).
|
2
|
Recoveries and reimbursements includes a net reduction of £3m
(H122 gain: £11m) in amounts expected to be received under the
arrangement where Group has entered into financial guarantee
contracts which provide credit protection over certain loan assets
with third parties; cash recoveries of previously written off
amounts is £21m (H122: £36m).
|
Loan commitments and financial guarantees
|
||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
||||
|
Gross
exposure
|
ECL
|
Gross
exposure
|
ECL
|
Gross
exposure
|
ECL
|
Gross
exposure
|
ECL
|
Retail mortgages
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2023
|
11,714
|
—
|
450
|
—
|
6
|
—
|
12,170
|
—
|
Net transfers between stages
|
(22)
|
—
|
20
|
—
|
2
|
—
|
—
|
—
|
Business activity in the period
|
6,019
|
—
|
—
|
—
|
—
|
—
|
6,019
|
—
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(7,423)
|
—
|
18
|
—
|
(4)
|
—
|
(7,409)
|
—
|
Limit management and final repayments
|
(190)
|
—
|
(21)
|
—
|
—
|
—
|
(211)
|
—
|
As at 30 June 2023
|
10,098
|
—
|
467
|
—
|
4
|
—
|
10,569
|
—
|
|
|
|
|
|
|
|
|
|
Retail credit cards
|
||||||||
As at 1 January 2023
|
144,957
|
50
|
5,435
|
83
|
228
|
—
|
150,620
|
133
|
Net transfers between stages
|
(358)
|
36
|
293
|
(36)
|
65
|
—
|
—
|
—
|
Business activity in the period
|
10,136
|
7
|
107
|
6
|
1
|
—
|
10,244
|
13
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(6,446)
|
(34)
|
(646)
|
76
|
(36)
|
—
|
(7,128)
|
42
|
Limit management and final repayments
|
(7,696)
|
(5)
|
(331)
|
(20)
|
(37)
|
—
|
(8,064)
|
(25)
|
As at 30 June 2023
|
140,593
|
54
|
4,858
|
109
|
221
|
—
|
145,672
|
163
|
|
|
|
|
|
|
|
|
|
Retail other
|
|
|
|
|
|
|
|
|
As at 1 January 2023
|
10,427
|
5
|
520
|
—
|
80
|
—
|
11,027
|
5
|
Net transfers between stages
|
(92)
|
—
|
67
|
—
|
25
|
—
|
—
|
—
|
Business activity in the period
|
655
|
—
|
2
|
—
|
2
|
—
|
659
|
—
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(1,209)
|
3
|
(44)
|
—
|
(48)
|
—
|
(1,301)
|
3
|
Limit management and final repayments
|
(420)
|
—
|
(10)
|
—
|
—
|
—
|
(430)
|
—
|
As at 30 June 2023
|
9,361
|
8
|
535
|
—
|
59
|
—
|
9,955
|
8
|
|
|
|
|
|
|
|
|
|
Corporate loans
|
|
|
|
|
|
|
|
|
As at 1 January 2023
|
205,684
|
190
|
24,289
|
232
|
866
|
23
|
230,839
|
445
|
Net transfers between stages
|
747
|
18
|
(898)
|
(19)
|
151
|
1
|
—
|
—
|
Business activity in the period
|
22,771
|
7
|
544
|
8
|
1
|
—
|
23,316
|
15
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
1,977
|
(26)
|
594
|
(3)
|
184
|
19
|
2,755
|
(10)
|
Limit management and final repayments
|
(26,568)
|
(51)
|
(1,752)
|
(19)
|
(224)
|
(2)
|
(28,544)
|
(72)
|
As at 30 June 2023
|
204,611
|
138
|
22,777
|
199
|
978
|
41
|
228,366
|
378
|
|
|
|
|
|
|
|
|
|
Debt securities and other
|
|
|
|
|
|
|
|
|
As at 1 January 2023
|
163
|
—
|
—
|
—
|
—
|
—
|
163
|
—
|
Net transfers between stages
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
Business activity in the period
|
14
|
—
|
—
|
—
|
—
|
—
|
14
|
—
|
Net drawdowns, repayments, net re-measurement and movement due to
exposure and risk parameter changes
|
(1)
|
—
|
—
|
—
|
—
|
—
|
(1)
|
—
|
Limit management and final repayments
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
As at 30 June 2023
|
176
|
—
|
—
|
—
|
—
|
—
|
176
|
—
|
|
Impairment
allowance pre
management
adjustments2
|
Economic
uncertainty
adjustments
|
Other
adjustments
|
Management
adjustments
|
Total
impairment
allowance3
|
Proportion of
Management
adjustments to
total impairment
allowance
|
|
|
(a)
|
(b)
|
(a+b)
|
|
|
As at 30 June 2023
|
£m
|
£m
|
£m
|
£m
|
£m
|
%
|
Retail mortgages
|
416
|
22
|
116
|
138
|
554
|
24.9
|
Retail credit cards
|
3,122
|
143
|
48
|
191
|
3,313
|
5.8
|
Retail other
|
453
|
8
|
45
|
53
|
506
|
10.5
|
Corporate loans
|
1,441
|
98
|
150
|
248
|
1,689
|
14.7
|
Debt securities and other
|
57
|
—
|
—
|
—
|
57
|
—
|
Total
|
5,489
|
271
|
359
|
630
|
6,119
|
10.3
|
|
|
|
|
|
|
|
As at 31 December 2022
|
£m
|
£m
|
£m
|
£m
|
£m
|
%
|
Retail mortgages
|
427
|
4
|
85
|
89
|
516
|
17.2
|
Retail credit cards
|
2,986
|
93
|
87
|
180
|
3,166
|
5.7
|
Retail other
|
455
|
25
|
99
|
124
|
579
|
21.4
|
Corporate loans
|
1,740
|
195
|
(63)
|
132
|
1,872
|
7.1
|
Debt securities and other
|
42
|
—
|
—
|
—
|
42
|
—
|
Total
|
5,650
|
317
|
208
|
525
|
6,175
|
8.5
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
As at 30 June 2023
|
£m
|
£m
|
£m
|
£m
|
Retail mortgages
|
5
|
14
|
3
|
22
|
Retail credit cards
|
27
|
116
|
—
|
143
|
Retail other
|
3
|
5
|
—
|
8
|
Corporate loans
|
77
|
14
|
7
|
98
|
Debt securities and other
|
—
|
—
|
—
|
—
|
Total
|
112
|
149
|
10
|
271
|
As at 31 December 2022
|
£m
|
£m
|
£m
|
£m
|
Retail mortgages
|
1
|
3
|
—
|
4
|
Retail credit cards
|
17
|
76
|
—
|
93
|
Retail other
|
7
|
17
|
1
|
25
|
Corporate loans
|
181
|
14
|
—
|
195
|
Debt securities and other
|
—
|
—
|
—
|
—
|
Total
|
206
|
110
|
1
|
317
|
1
|
Positive values reflect an increase in impairment allowance and
negative values reflect a reduction in the impairment
allowance
|
2
|
Includes £4.7bn (FY22: £4.8bn) of modelled ECL,
£0.4bn (FY22: £0.4bn) of individually assessed
impairments and £0.4bn (FY22: £0.5bn) ECL from
non-modelled exposures.
|
3
|
Total impairment allowance consists of ECL stock on drawn and
undrawn exposure.
|
●
|
Retail mortgages: £22m
(FY22: £4m) includes an adjustment applied to customers
considered most vulnerable to affordability pressures. The increase
is primarily driven by an adjustment introduced to reflect the risk
of borrowers refinancing onto higher rates in the medium
term.
|
●
|
Retail credit cards: £93m
(FY22: £93m) and Retail other:
£8m (FY22: £25m) includes an
adjustment applied to customers considered most vulnerable to
affordability pressures. This adjustment is predominantly held in
Stage 2 in line with customer risk profiles. Reduction
within Retail other
is primarily driven by re-scoping for
customers remaining resilient to affordability
headwinds.
|
●
|
Corporate loans: £98m
(FY22: £301m) includes an adjustment of £86m to reflect
possible cross default risk on Barclays’ lending in respect
of clients who have taken bounce back loans and £12m for SME
exposures considered most at risk from inflationary concerns,
supply chain constraints and consumer demand
headwinds.
The reduction of £(203)m is primarily informed by retirement
of adjustment for high risk sectors following a granular credit
risk assessment for qualifying exposures, and re-build of certain
CIB models which more appropriately capture downside
risk.
|
●
|
Retail credit cards: £50m
(FY22: £nil) includes an adjustment to reflect recent changes
to certain macroeconomic variables to more appropriately capture
the provision impact.
|
●
|
Previously held adjustment of £(106)m within
Corporate
loans to correct for model
oversensitivity has been retired following the re-build of certain
CIB models which more appropriately capture the macroeconomic
outlook.
|
●
|
Retail mortgages: £116m
(FY22: £85m) primarily include adjustments informed by model
monitoring and an adjustment for the definition of default under
the Capital Requirements Regulation. The increase is predominantly
driven by resizing of model monitoring
adjustments.
|
●
|
Retail credit cards: £48m
(FY22: £87m) primarily includes an adjustment in the UK for
the definition of default under the Capital Requirements
Regulation, and an adjustment in the US to the qualitative measures
for high-risk account management (HRAM) accounts; partially offset
by model monitoring adjustments.
The reduction is primarily driven by an adjustment made during the
year in the US to limit ECL sensitivity to certain macroeconomic
variables partially offset by an adjustment in the UK for
recalibration of Loss Given Default (LGD) to reflect revised
recovery expectations.
|
●
|
Retail other: £45m (FY22:
£99m) primarily includes an adjustment for the definition of
default under the Capital Requirements Regulation and adjustments
informed by model monitoring. The reduction is primarily driven by
operational model adjustments made during the year within Private
Banking and Wealth Management.
|
●
|
Corporate loans: £150m
(FY22: £(63)m) primarily include adjustments within SME
informed by model monitoring and definition of default under the
Capital Requirements Regulation.
Movement of £213m within Corporate loans
is primarily driven by the retirement
of all CIB legacy adjustments. Management adjustments held in 2022
primarily comprised of an adjustment to limit ECL sensitivity to
the macroeconomic variable for Federal Tax Receipts and model
monitoring adjustments, which is no longer needed following the
re-build of certain CIB models.
|
Macroeconomic variables used in the calculation of ECL
|
|||||
As at 30.06.23
|
2023
|
2024
|
2025
|
2026
|
2027
|
Baseline
|
%
|
%
|
%
|
%
|
%
|
UK
GDP1
|
0.3
|
0.9
|
1.6
|
1.8
|
1.9
|
UK
unemployment2
|
4.1
|
4.4
|
4.2
|
4.2
|
4.2
|
UK
HPI3
|
(6.1)
|
(1.3)
|
2.0
|
4.3
|
5.7
|
UK bank rate
|
4.8
|
4.6
|
3.9
|
3.8
|
3.5
|
US
GDP1
|
1.1
|
0.7
|
2.0
|
2.0
|
2.0
|
US
unemployment4
|
3.8
|
4.6
|
4.6
|
4.6
|
4.6
|
US
HPI5
|
(0.7)
|
3.6
|
2.4
|
2.7
|
2.7
|
US federal funds rate
|
5.0
|
3.7
|
3.0
|
2.8
|
3.0
|
|
|
|
|
|
|
Downside 2
|
|
|
|
|
|
UK
GDP1
|
(0.5)
|
(5.0)
|
(0.4)
|
2.5
|
1.9
|
UK
unemployment2
|
4.4
|
7.8
|
8.3
|
7.7
|
7.1
|
UK
HPI3
|
(10.2)
|
(20.5)
|
(17.7)
|
5.6
|
8.2
|
UK bank rate
|
5.5
|
8.0
|
7.3
|
6.1
|
4.8
|
US
GDP1
|
0.5
|
(4.8)
|
(0.3)
|
2.8
|
2.1
|
US
unemployment4
|
4.5
|
8.7
|
9.6
|
8.5
|
7.0
|
US
HPI5
|
(1.8)
|
(3.7)
|
(4.2)
|
2.6
|
4.8
|
US federal funds rate
|
5.7
|
7.0
|
6.5
|
5.1
|
4.2
|
|
|
|
|
|
|
Downside 1
|
|
|
|
|
|
UK
GDP1
|
(0.1)
|
(2.1)
|
0.6
|
2.2
|
1.9
|
UK
unemployment2
|
4.2
|
6.1
|
6.2
|
5.9
|
5.6
|
UK
HPI3
|
(8.1)
|
(11.3)
|
(8.2)
|
5.0
|
7.0
|
UK bank rate
|
5.2
|
6.1
|
5.6
|
4.8
|
4.1
|
US
GDP1
|
0.8
|
(2.0)
|
0.8
|
2.4
|
2.0
|
US
unemployment4
|
4.1
|
6.7
|
7.1
|
6.5
|
5.8
|
US
HPI5
|
(1.2)
|
(0.1)
|
(0.9)
|
2.7
|
3.8
|
US federal funds rate
|
5.2
|
4.9
|
4.5
|
4.3
|
3.8
|
|
|
|
|
|
|
Upside 2
|
|
|
|
|
|
UK
GDP1
|
1.2
|
4.1
|
3.2
|
2.6
|
2.3
|
UK
unemployment2
|
3.9
|
3.6
|
3.5
|
3.6
|
3.6
|
UK
HPI3
|
0.4
|
10.6
|
4.8
|
4.2
|
3.8
|
UK bank rate
|
4.4
|
3.3
|
2.5
|
2.5
|
2.5
|
US
GDP1
|
2.2
|
3.9
|
3.0
|
2.8
|
2.8
|
US
unemployment4
|
3.4
|
3.5
|
3.6
|
3.6
|
3.6
|
US
HPI5
|
2.5
|
5.5
|
4.6
|
4.5
|
4.5
|
US federal funds rate
|
4.7
|
3.2
|
2.2
|
2.0
|
2.0
|
|
|
|
|
|
|
Upside 1
|
|
|
|
|
|
UK
GDP1
|
0.8
|
2.5
|
2.4
|
2.2
|
2.1
|
UK
unemployment2
|
4.0
|
4.0
|
3.9
|
3.9
|
3.9
|
UK
HPI3
|
(2.9)
|
4.5
|
3.4
|
4.3
|
4.7
|
UK bank rate
|
4.6
|
4.0
|
3.1
|
3.0
|
3.0
|
US
GDP1
|
1.6
|
2.3
|
2.5
|
2.4
|
2.4
|
US
unemployment4
|
3.6
|
4.1
|
4.1
|
4.1
|
4.1
|
US
HPI5
|
0.9
|
4.6
|
3.5
|
3.6
|
3.6
|
US federal funds rate
|
4.8
|
3.4
|
2.6
|
2.5
|
2.5
|
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.
|
Macroeconomic variables used in the calculation of ECL
|
|||||
As at 31.12.22
|
2022
|
2023
|
2024
|
2025
|
2026
|
Baseline
|
%
|
%
|
%
|
%
|
%
|
UK
GDP1
|
3.3
|
(0.8)
|
0.9
|
1.8
|
1.9
|
UK
unemployment2
|
3.7
|
4.5
|
4.4
|
4.1
|
4.2
|
UK
HPI3
|
8.4
|
(4.7)
|
(1.7)
|
2.2
|
2.2
|
UK bank rate
|
1.8
|
4.4
|
4.1
|
3.8
|
3.4
|
US
GDP1
|
1.8
|
0.5
|
1.2
|
1.5
|
1.5
|
US
unemployment4
|
3.7
|
4.3
|
4.7
|
4.7
|
4.7
|
US
HPI5
|
11.2
|
1.8
|
1.5
|
2.3
|
2.4
|
US federal funds rate
|
2.1
|
4.8
|
3.6
|
3.1
|
3.0
|
|
|
|
|
|
|
Downside 2
|
|
|
|
|
|
UK
GDP1
|
3.3
|
(3.4)
|
(3.8)
|
2.0
|
2.3
|
UK
unemployment2
|
3.7
|
6.0
|
8.4
|
8.0
|
7.4
|
UK
HPI3
|
8.4
|
(18.3)
|
(18.8)
|
(7.7)
|
8.2
|
UK bank rate
|
1.8
|
7.3
|
7.9
|
6.6
|
5.5
|
US
GDP1
|
1.8
|
(2.7)
|
(3.4)
|
2.0
|
2.6
|
US
unemployment4
|
3.7
|
6.0
|
8.5
|
8.1
|
7.1
|
US
HPI5
|
11.2
|
(3.1)
|
(4.0)
|
(1.9)
|
4.8
|
US federal funds rate
|
2.1
|
6.6
|
6.9
|
5.8
|
4.6
|
|
|
|
|
|
|
Downside 1
|
|
|
|
|
|
UK
GDP1
|
3.3
|
(2.1)
|
(1.5)
|
1.9
|
2.1
|
UK
unemployment2
|
3.7
|
5.2
|
6.4
|
6.0
|
5.8
|
UK
HPI3
|
8.4
|
(11.7)
|
(10.6)
|
(2.8)
|
5.2
|
UK bank rate
|
1.8
|
5.9
|
6.1
|
5.3
|
4.6
|
US
GDP1
|
1.8
|
(1.1)
|
(1.1)
|
1.7
|
2.1
|
US
unemployment4
|
3.7
|
5.1
|
6.6
|
6.4
|
5.9
|
US
HPI5
|
11.2
|
(0.7)
|
(1.3)
|
0.2
|
3.6
|
US federal funds rate
|
2.1
|
5.8
|
5.4
|
4.4
|
3.9
|
|
|
|
|
|
|
Upside 2
|
|
|
|
|
|
UK
GDP1
|
3.3
|
2.8
|
3.7
|
2.9
|
2.4
|
UK
unemployment2
|
3.7
|
3.5
|
3.4
|
3.4
|
3.4
|
UK
HPI3
|
8.4
|
8.7
|
7.5
|
4.4
|
4.2
|
UK bank rate
|
1.8
|
3.1
|
2.6
|
2.5
|
2.5
|
US
GDP1
|
1.8
|
3.3
|
3.5
|
2.8
|
2.8
|
US
unemployment4
|
3.7
|
3.3
|
3.3
|
3.3
|
3.3
|
US
HPI5
|
11.2
|
5.8
|
5.1
|
4.5
|
4.5
|
US federal funds rate
|
2.1
|
3.6
|
2.9
|
2.8
|
2.8
|
|
|
|
|
|
|
Upside 1
|
|
|
|
|
|
UK
GDP1
|
3.3
|
1.0
|
2.3
|
2.4
|
2.1
|
UK
unemployment2
|
3.7
|
4.0
|
3.9
|
3.8
|
3.8
|
UK
HPI3
|
8.4
|
1.8
|
2.9
|
3.3
|
3.2
|
UK bank rate
|
1.8
|
3.5
|
3.3
|
3.0
|
2.8
|
US
GDP1
|
1.8
|
1.9
|
2.3
|
2.2
|
2.2
|
US
unemployment4
|
3.7
|
3.8
|
4.0
|
4.0
|
4.0
|
US
HPI5
|
11.2
|
3.8
|
3.3
|
3.4
|
3.4
|
US federal funds rate
|
2.1
|
3.9
|
3.4
|
3.0
|
3.0
|
1
|
Average Real GDP seasonally adjusted change in year.
|
2
|
Average UK unemployment rate 16-year+.
|
3
|
Change in year end UK HPI = Halifax All Houses, All Buyers index,
relative to prior year end.
|
4
|
Average US civilian unemployment rate 16-year+.
|
5
|
Change in year end US HPI = FHFA House Price Index, relative to
prior year end.
|
Scenario probability weighting
|
|||||
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
|
%
|
%
|
%
|
%
|
%
|
As at 30.06.23
|
|
|
|
|
|
Scenario probability weighting
|
13.0
|
24.7
|
40.2
|
15.2
|
6.9
|
As at 31.12.22
|
|
|
|
|
|
Scenario probability weighting
|
10.9
|
23.1
|
39.4
|
17.6
|
9.0
|
Macroeconomic variables (specific
bases)1
|
|||||
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
As at 30.06.23
|
%
|
%
|
%
|
%
|
%
|
UK
GDP2
|
15.1
|
11.2
|
1.3
|
(2.7)
|
(6.9)
|
UK
unemployment3
|
3.5
|
3.9
|
4.2
|
6.5
|
8.5
|
UK
HPI4
|
25.8
|
14.6
|
0.8
|
(25.2)
|
(41.5)
|
UK bank rate
|
2.5
|
3.0
|
4.1
|
6.3
|
8.0
|
US
GDP2
|
15.9
|
11.9
|
1.6
|
(2.3)
|
(6.2)
|
US
unemployment3
|
3.3
|
3.5
|
4.4
|
7.2
|
9.8
|
US
HPI4
|
23.6
|
17.2
|
2.1
|
(2.3)
|
(10.1)
|
US federal funds rate
|
2.0
|
2.5
|
3.5
|
5.3
|
7.0
|
As at 31.12.22
|
%
|
%
|
%
|
%
|
%
|
UK
GDP2
|
13.9
|
9.4
|
1.4
|
(3.2)
|
(6.8)
|
UK
unemployment3
|
3.4
|
3.6
|
4.2
|
6.6
|
8.5
|
UK
HPI4
|
37.8
|
21.0
|
1.2
|
(17.9)
|
(35.0)
|
UK bank rate
|
0.5
|
0.5
|
3.5
|
6.3
|
8.0
|
US
GDP2
|
14.1
|
9.6
|
1.3
|
(2.5)
|
(6.3)
|
US
unemployment3
|
3.3
|
3.6
|
4.4
|
6.7
|
8.6
|
US
HPI4
|
35.0
|
27.5
|
3.8
|
3.7
|
0.2
|
US federal funds rate
|
0.1
|
0.1
|
3.3
|
6.0
|
7.0
|
1
|
UK GDP = Real GDP growth seasonally adjusted; UK unemployment = UK
unemployment rate 16-year+; UK HI = Halifax All Houses, All Buyers
Index; US GDP = Real GDP growth seasonally adjusted; US
unemployment = US civilian unemployment rate 16-year+; US HPI =
FHFA House Price Index. 20 quarter period starts from Q123 (2022:
Q122).
|
2
|
Maximum growth relative to Q422 (2022: Q421), based on 20 quarter
period in Upside scenarios; 5-year yearly average CAGR in Baseline;
minimum growth relative to Q422 (2022: Q421), based on 20 quarter
period in Downside scenarios.
|
3
|
Lowest quarter in 20 quarter period in Upside scenarios; 5-year
average in Baseline; highest quarter 20 quarter period in Downside
scenarios.
|
4
|
Maximum growth relative to Q422 (2022: Q421), based on 20 quarter
period in Upside scenarios; 5-year quarter end CAGR in Baseline;
minimum growth relative to Q422 (2022: Q421), based on 20 quarter
period in Downside scenarios.
|
Macroeconomic variables (5-year
averages)1
|
|||||
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
As at 30.06.23
|
%
|
%
|
%
|
%
|
%
|
UK
GDP2
|
2.7
|
2.0
|
1.3
|
0.5
|
(0.3)
|
UK
unemployment3
|
3.6
|
3.9
|
4.2
|
5.6
|
7.0
|
UK
HPI4
|
4.7
|
2.8
|
0.8
|
(3.4)
|
(7.6)
|
UK bank rate
|
3.0
|
3.6
|
4.1
|
5.2
|
6.4
|
US
GDP2
|
2.9
|
2.3
|
1.6
|
0.8
|
—
|
US
unemployment3
|
3.5
|
4.0
|
4.4
|
6.0
|
7.6
|
US
HPI4
|
4.3
|
3.2
|
2.1
|
0.8
|
(0.5)
|
US federal funds rate
|
2.8
|
3.2
|
3.5
|
4.5
|
5.7
|
As at 31.12.22
|
%
|
%
|
%
|
%
|
%
|
UK
GDP2
|
3.0
|
2.2
|
1.4
|
0.7
|
—
|
UK
unemployment3
|
3.5
|
3.8
|
4.2
|
5.4
|
6.7
|
UK
HPI4
|
6.6
|
3.9
|
1.2
|
(2.6)
|
(6.4)
|
UK bank rate
|
2.5
|
2.9
|
3.5
|
4.7
|
5.8
|
US
GDP2
|
2.9
|
2.1
|
1.3
|
0.7
|
—
|
US
unemployment3
|
3.4
|
3.9
|
4.4
|
5.5
|
6.7
|
US
HPI4
|
6.2
|
5.0
|
3.8
|
2.5
|
1.2
|
US federal funds rate
|
2.8
|
3.1
|
3.3
|
4.3
|
5.2
|
1
|
UK GDP = Real GDP growth seasonally adjusted; UK unemployment = UK
unemployment rate 16-year+; UK HPI = Halifax All Houses, All Buyers
Index; US GDP = Real GDP growth seasonally adjusted; US
unemployment = US civilian unemployment rate 16-year+; US HPI =
FHFA House Price Index.
|
2
|
5-year yearly average CAGR, starting 2022 (2022:
2021).
|
3
|
5-year average. Period based on 20 quarters from Q123 (2022:
Q122).
|
4
|
5-year quarter end CAGR, starting Q422 (2022: Q421).
|
|
Scenarios
|
|||||
As at 30 June 2023
|
Weighted1
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
Stage 1 Model Exposure (£m)
|
|
|
|
|
|
|
Retail mortgages
|
149,626
|
151,300
|
150,889
|
150,274
|
147,210
|
141,860
|
Retail
credit cards2
|
66,280
|
66,587
|
66,408
|
66,240
|
66,101
|
65,834
|
Retail
other2
|
11,479
|
11,654
|
11,573
|
11,482
|
11,307
|
11,146
|
Corporate
loans2
|
146,763
|
152,688
|
150,797
|
147,814
|
142,071
|
127,549
|
Debt
securities and other3
|
28,515
|
28,693
|
28,673
|
28,515
|
28,503
|
28,226
|
Stage 1 Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
10
|
3
|
4
|
5
|
18
|
49
|
Retail credit cards
|
495
|
483
|
489
|
495
|
505
|
515
|
Retail other
|
52
|
47
|
50
|
51
|
55
|
60
|
Corporate loans
|
278
|
234
|
257
|
275
|
300
|
303
|
Debt securities and other
|
21
|
18
|
19
|
21
|
23
|
26
|
Stage 1 Coverage (%)
|
|
|
|
|
|
|
Retail mortgages
|
—
|
—
|
—
|
—
|
—
|
—
|
Retail credit cards
|
0.7
|
0.7
|
0.7
|
0.7
|
0.8
|
0.8
|
Retail other
|
0.5
|
0.4
|
0.4
|
0.4
|
0.5
|
0.5
|
Corporate loans
|
0.2
|
0.2
|
0.2
|
0.2
|
0.2
|
0.2
|
Debt securities and other
|
0.1
|
0.1
|
0.1
|
0.1
|
0.1
|
0.1
|
Stage 2 Model Exposure (£m)
|
|
|
|
|
|
|
Retail mortgages
|
18,147
|
16,473
|
16,884
|
17,499
|
20,563
|
25,913
|
Retail
credit cards2
|
7,471
|
6,748
|
7,090
|
7,424
|
8,170
|
9,066
|
Retail
other2
|
1,699
|
1,512
|
1,597
|
1,690
|
1,891
|
2,078
|
Corporate
loans2
|
26,584
|
20,495
|
22,449
|
25,555
|
31,422
|
46,128
|
Debt
securities and other3
|
2,629
|
2,451
|
2,471
|
2,629
|
2,641
|
2,918
|
Stage 2 Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
40
|
18
|
21
|
24
|
62
|
300
|
Retail credit cards
|
1,559
|
1,376
|
1,456
|
1,541
|
1,757
|
2,023
|
Retail other
|
137
|
115
|
126
|
135
|
162
|
185
|
Corporate loans
|
558
|
368
|
427
|
521
|
805
|
1,401
|
Debt securities and other
|
35
|
28
|
31
|
34
|
41
|
56
|
Stage 2 Coverage (%)
|
|
|
|
|
|
|
Retail mortgages
|
0.2
|
0.1
|
0.1
|
0.1
|
0.3
|
1.2
|
Retail credit cards
|
20.9
|
20.4
|
20.5
|
20.8
|
21.5
|
22.3
|
Retail other
|
8.1
|
7.6
|
7.9
|
8.0
|
8.6
|
8.9
|
Corporate loans
|
2.1
|
1.8
|
1.9
|
2.0
|
2.6
|
3.0
|
Debt securities and other
|
1.3
|
1.1
|
1.3
|
1.3
|
1.6
|
1.9
|
Stage 3 Model Exposure (£m)4
|
|
|
|
|
|
|
Retail mortgages
|
1,580
|
1,580
|
1,580
|
1,580
|
1,580
|
1,580
|
Retail credit cards
|
1,497
|
1,497
|
1,497
|
1,497
|
1,497
|
1,497
|
Retail other
|
219
|
219
|
219
|
219
|
219
|
219
|
Corporate loans
|
3,193
|
3,193
|
3,193
|
3,193
|
3,193
|
3,193
|
Debt
securities and other3
|
—
|
—
|
—
|
—
|
—
|
—
|
Stage 3 Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
329
|
303
|
309
|
316
|
360
|
455
|
Retail credit cards
|
983
|
966
|
975
|
983
|
996
|
1,007
|
Retail other
|
138
|
136
|
137
|
138
|
140
|
143
|
Corporate
loans5
|
81
|
76
|
78
|
80
|
88
|
97
|
Debt securities and other
|
—
|
—
|
—
|
—
|
—
|
—
|
Stage 3 Coverage (%)
|
|
|
|
|
|
|
Retail mortgages
|
20.8
|
19.2
|
19.6
|
20.0
|
22.8
|
28.8
|
Retail credit cards
|
65.7
|
64.5
|
65.1
|
65.7
|
66.5
|
67.3
|
Retail other
|
63.0
|
62.1
|
62.6
|
63.0
|
63.9
|
65.3
|
Corporate
loans5
|
2.5
|
2.4
|
2.4
|
2.5
|
2.8
|
3.0
|
Debt securities and other
|
—
|
—
|
—
|
—
|
—
|
—
|
Total Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
379
|
324
|
334
|
345
|
440
|
804
|
Retail credit cards
|
3,037
|
2,825
|
2,920
|
3,019
|
3,258
|
3,545
|
Retail other
|
327
|
298
|
313
|
324
|
357
|
388
|
Corporate
loans5
|
917
|
678
|
762
|
876
|
1,193
|
1,801
|
Debt securities and other
|
56
|
46
|
50
|
55
|
64
|
82
|
Total Model ECL
|
4,716
|
4,171
|
4,379
|
4,619
|
5,312
|
6,620
|
Reconciliation to total ECL
|
£m
|
Total weighted model ECL
|
4,716
|
ECL
from individually assessed impairments5
|
420
|
ECL from non-modelled exposures and others
|
353
|
ECL from post model management adjustments
|
630
|
Of which: ECL from economic uncertainty adjustments
|
271
|
Total ECL
|
6,119
|
1
|
Model exposures are allocated to a stage based on an individual
scenario rather than a probability-weighted approach as required
for Barclays reported impairment allowances. As a result, it is not
possible to back solve the final reported weighted ECL from
individual scenarios given balances may be assigned to a different
stage dependent on the scenario.
|
2
|
For Retail credit cards, Retail other and Corporate loans, the
model exposure movement between stages 1 and 2 across scenarios
differs due to additional impacts from the undrawn
exposure.
|
3
|
Debt securities and other excludes Treasury exposures since these
are non-modelled.
|
4
|
Model exposures allocated to Stage 3 does not change in any of the
scenarios as the transition criteria relies only on an observable
evidence of default as at 30 June 2023 and not on macroeconomic
scenario.
|
5
|
Material corporate loan defaults are individually assessed across
different recovery strategies. As a result, ECL of £420m is
reported as an individually assessed impairment in the
reconciliation table.
|
|
Scenarios
|
|||||
As at 31 December 2022
|
Weighted1
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
Stage 1 Model Exposure (£m)
|
|
|
|
|
|
|
Retail mortgages
|
144,701
|
147,754
|
146,873
|
145,322
|
142,599
|
138,619
|
Retail
credit cards2
|
67,204
|
67,622
|
67,352
|
67,080
|
66,908
|
66,636
|
Retail
other2
|
12,282
|
12,428
|
12,341
|
12,235
|
12,111
|
11,986
|
Corporate
loans2
|
156,302
|
164,207
|
161,578
|
158,218
|
150,827
|
138,618
|
Debt
securities and other3
|
32,380
|
32,484
|
32,403
|
32,385
|
32,321
|
31,137
|
Stage 1 Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
7
|
3
|
3
|
4
|
9
|
30
|
Retail credit cards
|
509
|
493
|
503
|
512
|
517
|
521
|
Retail other
|
52
|
45
|
49
|
52
|
54
|
55
|
Corporate loans
|
341
|
259
|
290
|
325
|
397
|
443
|
Debt securities and other
|
14
|
10
|
11
|
13
|
17
|
21
|
Stage 1 Coverage (%)
|
|
|
|
|
|
|
Retail mortgages
|
—
|
—
|
—
|
—
|
—
|
—
|
Retail credit cards
|
0.8
|
0.7
|
0.7
|
0.8
|
0.8
|
0.8
|
Retail other
|
0.4
|
0.4
|
0.4
|
0.4
|
0.4
|
0.5
|
Corporate loans
|
0.2
|
0.2
|
0.2
|
0.2
|
0.3
|
0.3
|
Debt securities and other
|
—
|
—
|
—
|
—
|
0.1
|
0.1
|
Stage 2 Model Exposure (£m)
|
|
|
|
|
|
|
Retail mortgages
|
18,723
|
15,670
|
16,551
|
18,102
|
20,825
|
24,805
|
Retail
credit cards2
|
7,611
|
6,551
|
7,118
|
7,691
|
8,313
|
9,062
|
Retail
other2
|
1,559
|
1,386
|
1,485
|
1,601
|
1,741
|
1,881
|
Corporate
loans2
|
24,935
|
16,858
|
19,550
|
23,031
|
30,548
|
42,952
|
Debt
securities and other3
|
943
|
839
|
919
|
938
|
1,002
|
2,186
|
Stage 2 Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
33
|
15
|
18
|
23
|
45
|
151
|
Retail credit cards
|
1,624
|
1,361
|
1,487
|
1,624
|
1,811
|
2,032
|
Retail other
|
124
|
96
|
109
|
124
|
144
|
160
|
Corporate loans
|
610
|
399
|
470
|
569
|
817
|
1,304
|
Debt securities and other
|
32
|
23
|
26
|
31
|
42
|
66
|
Stage 2 Coverage (%)
|
|
|
|
|
|
|
Retail mortgages
|
0.2
|
0.1
|
0.1
|
0.1
|
0.2
|
0.6
|
Retail credit cards
|
21.3
|
20.8
|
20.9
|
21.1
|
21.8
|
22.4
|
Retail other
|
8.0
|
6.9
|
7.3
|
7.7
|
8.3
|
8.5
|
Corporate loans
|
2.4
|
2.4
|
2.4
|
2.5
|
2.7
|
3.0
|
Debt securities and other
|
3.4
|
2.7
|
2.8
|
3.3
|
4.2
|
3.0
|
Stage 3 Model Exposure (£m)4
|
|
|
|
|
|
|
Retail mortgages
|
1,553
|
1,553
|
1,553
|
1,553
|
1,553
|
1,553
|
Retail credit cards
|
1,354
|
1,354
|
1,354
|
1,354
|
1,354
|
1,354
|
Retail other
|
216
|
216
|
216
|
216
|
216
|
216
|
Corporate loans
|
2,892
|
2,892
|
2,892
|
2,892
|
2,892
|
2,892
|
Debt
securities and other3
|
—
|
—
|
—
|
—
|
—
|
—
|
Stage 3 Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
332
|
311
|
317
|
323
|
347
|
405
|
Retail credit cards
|
880
|
861
|
871
|
880
|
893
|
903
|
Retail other
|
132
|
129
|
131
|
132
|
134
|
136
|
Corporate
loans5
|
70
|
66
|
68
|
70
|
78
|
85
|
Debt securities and other
|
—
|
—
|
—
|
—
|
—
|
—
|
Stage 3 Coverage (%)
|
|
|
|
|
|
|
Retail mortgages
|
21.4
|
20.0
|
20.4
|
20.8
|
22.3
|
26.1
|
Retail credit cards
|
65.0
|
63.6
|
64.3
|
65.0
|
66.0
|
66.7
|
Retail other
|
61.1
|
59.7
|
60.6
|
61.1
|
62.0
|
63.0
|
Corporate
loans5
|
2.4
|
2.3
|
2.4
|
2.4
|
2.7
|
2.9
|
Debt securities and other
|
—
|
—
|
—
|
—
|
—
|
—
|
Total Model ECL (£m)
|
|
|
|
|
|
|
Retail mortgages
|
372
|
329
|
338
|
350
|
401
|
586
|
Retail credit cards
|
3,013
|
2,715
|
2,861
|
3,016
|
3,221
|
3,456
|
Retail other
|
308
|
270
|
289
|
308
|
332
|
351
|
Corporate
loans5
|
1,021
|
724
|
828
|
964
|
1,292
|
1,832
|
Debt securities and other
|
46
|
33
|
37
|
44
|
59
|
87
|
Total Model ECL
|
4,760
|
4,071
|
4,353
|
4,682
|
5,305
|
6,312
|
Reconciliation to total ECL
|
£m
|
Total weighted model ECL
|
4,760
|
ECL
from individually assessed impairments5
|
434
|
ECL from non-modelled exposures and others
|
456
|
ECL from post model management adjustments
|
525
|
Of which: ECL from economic uncertainty adjustments
|
317
|
Total ECL
|
6,175
|
1
|
Model exposures are allocated to a stage based on an individual
scenario rather than a probability-weighted approach, as required
for Barclays reported impairment allowances. As a result, it is not
possible to back solve the final reported weighted ECL from
individual scenarios given balances may be assigned to a different
stage dependent on the scenario.
|
2
|
For Retail credit cards, Retail other and Corporate loans, the
model exposure movement between stages 1 and 2 across scenarios
differs due to additional impacts from the undrawn
exposure.
|
3
|
Debt securities and other excludes Treasury exposures since these
are non-modelled.
|
4
|
Model exposures allocated to Stage 3 does not change in any of the
scenarios as the transition criteria relies only on an observable
evidence of default as at 31 December 2022 and not on macroeconomic
scenario.
|
5
|
Material corporate loan defaults are individually assessed across
different recovery strategies. As a result, ECL of £434m is
reported as an individually assessed impairment in the
reconciliation table
|
|
Barclays UK
|
|
Home loans principal portfolios
|
As at 30.06.23
|
As at 31.12.22
|
Gross loans and advances (£m)
|
166,374
|
162,380
|
90 day arrears rate, excluding recovery book (%)
|
0.2
|
0.1
|
Annualised gross charge-off rates - 180 days past due
(%)
|
0.5
|
0.5
|
Recovery book proportion of outstanding balances (%)
|
0.6
|
0.5
|
Recovery
book impairment coverage ratio (%)1
|
6.4
|
5.2
|
|
|
|
Average marked to market LTV
|
|
|
Balance weighted %
|
52.8
|
50.4
|
Valuation weighted %
|
39.2
|
37.3
|
|
|
|
New lending
|
Half year ended
30.06.23
|
Half year ended
30.06.22
|
New home loan bookings (£m)
|
12,531
|
14,117
|
New home loan proportion > 90% LTV (%)
|
0.7
|
2.6
|
Average LTV on new home loans: balance weighted (%)
|
62.5
|
68.6
|
Average LTV on new home loans: valuation weighted (%)
|
53.7
|
60.4
|
1
|
Recovery Book Impairment Coverage Ratio excludes KMC and Settle
portfolios.
|
|
Distribution of balances
|
Distribution of impairment
allowance
|
Coverage ratio
|
|||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Barclays UK
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
As at 30.06.23
|
|
|
|
|
|
|
|
|
|
|
|
|
<=75%
|
75.8
|
9.5
|
0.7
|
86.0
|
10.3
|
27.4
|
27.4
|
65.1
|
—
|
0.3
|
4.3
|
0.1
|
>75% and <=90%
|
11.4
|
0.9
|
0.1
|
12.4
|
5.7
|
13.5
|
8.2
|
27.4
|
0.1
|
1.8
|
30.4
|
0.3
|
>90% and <=100%
|
1.5
|
0.1
|
—
|
1.6
|
0.9
|
1.5
|
1.9
|
4.3
|
0.1
|
1.8
|
69.9
|
0.3
|
>100%
|
—
|
—
|
—
|
—
|
0.1
|
0.5
|
2.6
|
3.2
|
0.3
|
12.9
|
70.5
|
11.2
|
As at 31.12.22
|
|
|
|
|
|
|
|
|
|
|
|
|
<=75%
|
78.8
|
10.5
|
0.8
|
90.1
|
10.2
|
30.8
|
33.2
|
74.2
|
—
|
0.2
|
2.9
|
0.1
|
>75% and <=90%
|
8.8
|
0.5
|
—
|
9.3
|
3.9
|
9.7
|
5.2
|
18.8
|
—
|
1.4
|
30.8
|
0.1
|
>90% and <=100%
|
0.6
|
—
|
—
|
0.6
|
0.3
|
0.3
|
2.4
|
3.0
|
—
|
1.5
|
85.0
|
0.4
|
>100%
|
—
|
—
|
—
|
—
|
0.1
|
0.6
|
3.3
|
4.0
|
0.4
|
21.4
|
64.9
|
13.1
|
1
|
Portfolio marked to market based on the most updated valuation
including recovery book balances. Updated valuations reflect the
application of the latest HPI available as at 30 June
2023.
|
Principal portfolios
|
Gross exposure
|
30 day arrears
rate, excluding
recovery book
|
90 day arrears
rate, excluding
recovery book
|
Annualised
gross write-off
rate
|
Annualised
net write-off
rate
|
As at 30.06.23
|
£m
|
%
|
%
|
%
|
%
|
Barclays UK
|
|
|
|
|
|
UK cards
|
10,011
|
0.9
|
0.2
|
2.0
|
1.9
|
UK personal loans
|
3,717
|
1.5
|
0.6
|
1.3
|
1.1
|
Barclays Partner Finance
|
2,557
|
0.5
|
0.2
|
0.6
|
0.6
|
Barclays International
|
|
|
|
|
|
US cards
|
24,908
|
2.4
|
1.2
|
2.5
|
2.4
|
Germany consumer lending
|
4,098
|
1.7
|
0.8
|
0.8
|
0.8
|
|
|
|
|
|
|
As at 31.12.22
|
|
|
|
|
|
Barclays UK
|
|
|
|
|
|
UK cards
|
9,939
|
0.9
|
0.2
|
3.7
|
3.6
|
UK personal loans
|
4,023
|
1.4
|
0.6
|
4.1
|
3.8
|
Barclays Partner Finance
|
2,612
|
0.5
|
0.2
|
0.7
|
0.7
|
Barclays International
|
|
|
|
|
|
US cards
|
25,554
|
2.2
|
1.2
|
2.4
|
2.3
|
Germany consumer lending
|
4,269
|
1.7
|
0.7
|
0.7
|
0.6
|
|
Gross exposure
|
Impairment allowance
|
Government guaranteed
exposure
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Modelled
impairment
|
Management adjustment
|
Impairment post- management adjustment
|
Impairment
Coverage
|
Total
|
As at 30.06.23
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
%
|
£m
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
BBLS
|
2,747
|
2,244
|
444
|
5,435
|
8
|
26
|
34
|
0.6
|
5,400
|
CBILS
|
233
|
288
|
76
|
597
|
17
|
(4)
|
13
|
2.2
|
478
|
RLS
|
13
|
2
|
2
|
17
|
—
|
—
|
—
|
—
|
13
|
Barclays International
|
|
|
|
|
|
|
|||
CBILS
|
235
|
163
|
15
|
413
|
7
|
—
|
7
|
1.7
|
330
|
CLBILS
|
40
|
23
|
10
|
73
|
2
|
—
|
2
|
3.2
|
59
|
RLS
|
18
|
3
|
1
|
22
|
—
|
—
|
—
|
1.9
|
16
|
Total
|
3,286
|
2,723
|
548
|
6,557
|
34
|
22
|
56
|
0.9
|
6,296
|
|
|
|
|
|
|
|
|
|
|
As at 31.12.22
|
|
|
|
|
|
|
|
||
Barclays UK
|
|
|
|
|
|
|
|
|
|
BBLS
|
3,066
|
2,903
|
618
|
6,587
|
6
|
27
|
33
|
0.5
|
6,554
|
CBILS
|
286
|
396
|
66
|
748
|
22
|
(9)
|
13
|
1.7
|
598
|
RLS
|
13
|
4
|
1
|
18
|
—
|
—
|
—
|
—
|
14
|
Barclays International
|
|
|
|
|
|
|
|||
CBILS
|
306
|
154
|
8
|
468
|
5
|
—
|
5
|
1.1
|
375
|
CLBILS
|
67
|
32
|
13
|
112
|
2
|
—
|
2
|
2.1
|
89
|
RLS
|
17
|
3
|
1
|
21
|
—
|
—
|
—
|
1.5
|
16
|
Total
|
3,755
|
3,492
|
707
|
7,954
|
35
|
18
|
53
|
0.7
|
7,646
|
|
Half year ended 30.06.23
|
|
Half year ended 31.12.22
|
|
Half year ended 30.06.22
|
||||||
|
Average
|
High
|
Low
|
|
Average
|
High
|
Low
|
|
Average
|
High
|
Low
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Credit risk
|
48
|
57
|
38
|
|
35
|
71
|
17
|
|
16
|
24
|
8
|
Interest rate risk
|
16
|
25
|
9
|
|
16
|
23
|
10
|
|
10
|
19
|
4
|
Equity risk
|
6
|
10
|
3
|
|
10
|
16
|
4
|
|
10
|
29
|
4
|
Basis risk
|
16
|
25
|
11
|
|
15
|
20
|
11
|
|
9
|
24
|
4
|
Spread risk
|
10
|
14
|
7
|
|
8
|
11
|
5
|
|
5
|
10
|
3
|
Foreign exchange risk
|
3
|
6
|
1
|
|
5
|
17
|
3
|
|
10
|
25
|
2
|
Commodity risk
|
—
|
1
|
—
|
|
—
|
1
|
—
|
|
—
|
1
|
—
|
Inflation risk
|
9
|
11
|
6
|
|
7
|
11
|
5
|
|
6
|
17
|
3
|
Diversification
effect1
|
(63)
|
n/a
|
n/a
|
|
(52)
|
n/a
|
n/a
|
|
(39)
|
n/a
|
n/a
|
Total management VaR
|
45
|
60
|
34
|
|
44
|
73
|
27
|
|
27
|
43
|
13
|
1
|
Diversification effects recognise that forecast losses from
different assets or businesses are unlikely to occur concurrently,
hence the expected aggregate loss is lower than the sum of the
expected losses from each area. Historical correlations between
losses are taken into account in making these assessments. The high
and low VaR figures reported for each category did not necessarily
occur on the same day as the high and low VaR reported as a whole.
Consequently, a diversification effect balance for the high and low
VaR figures would not be meaningful and is therefore omitted from
the above table
|
Liquidity coverage ratio
|
As at 30.06.23
|
As at 31.12.22
|
|
£bn
|
£bn
|
LCR Eligible High Quality Liquid Assets (HQLA)
|
313
|
295
|
Net stress outflows
|
(198)
|
(178)
|
Surplus
|
115
|
117
|
|
|
|
Liquidity coverage ratio
|
158%
|
165%
|
Net Stable Funding
Ratio1
|
As at 30.06.23
|
As at 31.12.22
|
|
£bn
|
£bn
|
Total Available Stable Funding
|
596
|
576
|
Total Required Stable Funding
|
430
|
421
|
Surplus
|
166
|
155
|
|
|
|
Net Stable Funding Ratio
|
139%
|
137%
|
1
|
Represents average of the last four spot quarter end
positions
|
Composition of the Group liquidity pool
|
|
|
|
|
|
|
|
|
|
LCR eligible1
High Quality Liquid Assets
(HQLA)
|
|
Liquidity pool
|
|||||
|
Cash
|
Level 1
|
Level 2A
|
Level 2B
|
Total
|
|
2023
|
2022
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Cash and deposits with central banks2
|
249
|
—
|
—
|
—
|
249
|
|
264
|
263
|
|
|
|
|
|
|
|
|
|
Government bonds3
|
|
|
|
|
|
|
|
|
AAA to AA-
|
—
|
37
|
8
|
—
|
45
|
|
49
|
39
|
A+ to A-
|
—
|
3
|
1
|
—
|
4
|
|
4
|
3
|
BBB+ to BBB-
|
—
|
1
|
—
|
—
|
1
|
|
1
|
—
|
Total government bonds
|
—
|
41
|
9
|
—
|
50
|
|
54
|
42
|
|
|
|
|
|
|
|
|
|
Other
|
|
|
|
|
|
|
|
|
Government Guaranteed Issuers, PSEs and GSEs
|
—
|
4
|
1
|
—
|
5
|
|
5
|
6
|
International Organisations and MDBs
|
—
|
2
|
—
|
—
|
2
|
|
2
|
2
|
Covered bonds
|
—
|
2
|
3
|
—
|
5
|
|
6
|
5
|
Other
|
—
|
—
|
—
|
2
|
2
|
|
—
|
—
|
Total other
|
—
|
8
|
4
|
2
|
14
|
|
13
|
13
|
|
|
|
|
|
|
|
|
|
Total as at 30 June 2023
|
249
|
49
|
13
|
2
|
313
|
|
331
|
|
Total as at 31 December 2022
|
248
|
31
|
15
|
1
|
295
|
|
|
318
|
1
|
The LCR eligible HQLA is adjusted for operational restrictions upon
consolidation under Article 8 of the Liquidity Coverage Ratio
section of the PRA rulebook (CRR) such as trapped liquidity within
Barclays subsidiaries. It also reflects differences in eligibility
of assets between the LCR and Barclays’ Liquidity
Pool.
|
2
|
Includes cash held at central banks and surplus cash at central
banks related to payment schemes. Over 98% (December 2022: over
99%) was placed with the Bank of England, US Federal Reserve,
European Central Bank, Bank of Japan and Swiss National
Bank.
|
3
|
Of which over 78% (December 2022: over 79%) comprised UK, US,
French, German, Japanese, Swiss and Dutch securities.
|
|
As at 30.06.23
|
|
As at 31.12.22
|
||
|
Loans and
advances at
amortised
cost
|
Deposits at
amortised
cost
|
Loan: deposit
ratio1
|
|
Loan: deposit
ratio1
|
Funding of loans and advances
|
£bn
|
£bn
|
%
|
|
%
|
Barclays UK
|
226
|
250
|
90
|
|
87
|
Barclays International
|
171
|
305
|
56
|
|
59
|
Head Office
|
4
|
—
|
|
|
|
Barclays Group
|
401
|
555
|
72
|
|
73
|
1
|
The loan: deposit ratio is calculated as loans and advances at
amortised cost divided by deposits at amortised cost.
|
|
As at
30.06.23
|
As at
31.12.22
|
|
|
As at
30.06.23
|
As at
31.12.22
|
Assets
|
£bn
|
£bn
|
|
Liabilities and equity
|
£bn
|
£bn
|
Loans
and advances at amortised cost1
|
377
|
385
|
|
Deposits at amortised cost
|
555
|
546
|
Group liquidity pool
|
331
|
318
|
|
<1 Year wholesale funding
|
73
|
73
|
|
|
|
|
>1 Year wholesale funding
|
110
|
111
|
Reverse repurchase agreements, trading portfolio assets, cash
collateral and settlement balances
|
479
|
412
|
|
Repurchase agreements, trading portfolio liabilities, cash
collateral and settlement balances
|
428
|
370
|
Derivative financial instruments
|
266
|
302
|
|
Derivative financial instruments
|
255
|
290
|
Other
assets2
|
97
|
97
|
|
Other liabilities
|
60
|
55
|
|
|
|
|
Equity
|
69
|
69
|
Total assets
|
1,550
|
1,514
|
|
Total liabilities and equity
|
1,550
|
1,514
|
1
|
Adjusted for liquidity pool debt securities reported at amortised
cost of £24bn (December 2022: £14bn).
|
2
|
Other assets include fair value assets that are not part of reverse
repurchase agreements or trading portfolio assets, and other asset
categories.
|
|
<1
|
1-3
|
3-6
|
6-12
|
<1
|
1-2
|
2-3
|
3-4
|
4-5
|
>5
|
|
|
month
|
months
|
months
|
months
|
year
|
years
|
years
|
years
|
years
|
years
|
Total
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Barclays PLC (the Parent company)
|
|
|
|
|
|
|
|
|
|
|
|
Senior unsecured (public benchmark)
|
0.2
|
0.6
|
0.9
|
1.5
|
3.2
|
7.2
|
6.8
|
5.7
|
3.3
|
17.7
|
43.9
|
Senior unsecured (privately placed)
|
—
|
—
|
0.1
|
—
|
0.1
|
—
|
—
|
—
|
—
|
0.9
|
1.0
|
Subordinated liabilities
|
—
|
—
|
—
|
—
|
—
|
0.9
|
1.5
|
—
|
1.6
|
5.8
|
9.8
|
Barclays Bank PLC (including subsidiaries)
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit and commercial paper
|
7.3
|
11.2
|
14.0
|
7.3
|
39.8
|
1.6
|
0.2
|
—
|
—
|
—
|
41.6
|
Asset backed commercial paper
|
3.0
|
6.7
|
1.0
|
—
|
10.7
|
—
|
—
|
—
|
—
|
—
|
10.7
|
Senior unsecured (public benchmark)
|
—
|
—
|
—
|
1.0
|
1.0
|
—
|
—
|
—
|
—
|
—
|
1.0
|
Senior
unsecured (privately placed)3
|
1.3
|
1.9
|
2.8
|
6.0
|
12.0
|
12.3
|
8.4
|
4.1
|
6.6
|
18.8
|
62.2
|
Asset backed securities
|
—
|
—
|
0.6
|
0.4
|
1.0
|
1.7
|
0.4
|
0.4
|
0.1
|
1.9
|
5.5
|
Subordinated liabilities
|
0.1
|
0.1
|
0.2
|
0.2
|
0.6
|
0.1
|
—
|
0.3
|
—
|
0.4
|
1.4
|
Barclays Bank UK PLC (including subsidiaries)
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit and commercial paper
|
4.7
|
—
|
—
|
—
|
4.7
|
—
|
—
|
—
|
—
|
—
|
4.7
|
Senior unsecured (public benchmark)
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
0.1
|
0.1
|
Covered bonds
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
0.5
|
0.9
|
1.4
|
Total as at 30 June 2023
|
16.6
|
20.5
|
19.6
|
16.4
|
73.1
|
23.8
|
17.3
|
10.5
|
12.1
|
46.5
|
183.3
|
Of which secured
|
3.0
|
6.7
|
1.6
|
0.4
|
11.7
|
1.7
|
0.4
|
0.4
|
0.6
|
2.8
|
17.6
|
Of which unsecured
|
13.6
|
13.8
|
18.0
|
16.0
|
61.4
|
22.1
|
16.9
|
10.1
|
11.5
|
43.7
|
165.7
|
|
|
|
|
|
|
|
|
|
|
|
|
Total as at 31 December 2022
|
11.1
|
26.5
|
16.4
|
18.5
|
72.5
|
22.4
|
16.9
|
14.5
|
9.7
|
48.0
|
184.0
|
Of which secured
|
4.9
|
6.7
|
1.3
|
0.2
|
13.1
|
1.8
|
0.7
|
0.5
|
1.0
|
2.1
|
19.2
|
Of which unsecured
|
6.2
|
19.8
|
15.1
|
18.3
|
59.4
|
20.6
|
16.2
|
14.0
|
8.7
|
45.9
|
164.8
|
1
|
The composition of wholesale funds comprises the balance sheet
reported financial liabilities at fair value, debt securities in
issue and subordinated liabilities. It does not include
participation in the central bank facilities reported within
repurchase agreements and other similar secured
borrowing.
|
2
|
Term funding comprises public benchmark and privately placed senior
unsecured notes, covered bonds, asset-backed securities and
subordinated debt where the original maturity of the instrument is
more than 1 year.
|
3
|
Includes structured notes of £50.5bn, of which £10.5bn
matures within one year.
|
Barclays Bank PLC
|
Standard &
Poor's
|
Moody's
|
Fitch
|
Long-term
|
A+ / Stable
|
A1 / Stable
|
A+ /
Stable
|
Short-term
|
A-1
|
P-1
|
F1
|
|
|
|
|
Barclays Bank UK PLC
|
|
|
|
Long-term
|
A+ / Stable
|
A1 / Stable
|
A+ / Stable
|
Short-term
|
A-1
|
P-1
|
F1
|
|
|
|
|
Barclays PLC
|
|
|
|
Long-term
|
BBB+ / Stable
|
Baa1 / Stable
|
A /
Stable
|
Short-term
|
A-2
|
P-2
|
F1
|
Capital ratios1,2
|
As at 30.06.23
|
As at 31.03.23
|
As at 31.12.22
|
CET1
|
13.8%
|
13.6%
|
13.9%
|
T1
|
17.9%
|
17.6%
|
17.9%
|
Total regulatory capital
|
20.5%
|
20.2%
|
20.8%
|
MREL ratio as a percentage of total RWAs
|
32.9%
|
32.7%
|
33.5%
|
|
|
|
|
Own funds and eligible liabilities
|
£m
|
£m
|
£m
|
Total equity excluding non-controlling interests per the balance
sheet
|
67,669
|
69,699
|
68,292
|
Less: other equity instruments (recognised as AT1
capital)
|
(13,759)
|
(13,784)
|
(13,284)
|
Adjustment to retained earnings for foreseeable ordinary share
dividends
|
(622)
|
(338)
|
(787)
|
Adjustment to retained earnings for foreseeable repurchase of
shares
|
—
|
(224)
|
—
|
Adjustment to retained earnings for foreseeable other equity
coupons
|
(39)
|
(52)
|
(37)
|
|
|
|
|
Other regulatory adjustments and deductions
|
|
|
|
Additional value adjustments (PVA)
|
(1,800)
|
(1,913)
|
(1,726)
|
Goodwill and intangible assets
|
(8,584)
|
(8,642)
|
(8,224)
|
Deferred tax assets that rely on future profitability excluding
temporary differences
|
(1,372)
|
(1,435)
|
(1,500)
|
Fair value reserves related to gains or losses on cash flow
hedges
|
7,992
|
6,164
|
7,237
|
Excess of expected losses over impairment
|
(228)
|
(232)
|
(119)
|
Gains or losses on liabilities at fair value resulting from own
credit
|
(116)
|
(86)
|
(620)
|
Defined benefit pension fund assets
|
(2,995)
|
(3,593)
|
(3,430)
|
Direct and indirect holdings by an institution of own CET1
instruments
|
(20)
|
(20)
|
(20)
|
Adjustment under IFRS 9 transitional arrangements
|
206
|
245
|
700
|
Other regulatory adjustments
|
308
|
196
|
396
|
CET1 capital
|
46,640
|
45,985
|
46,878
|
|
|
|
|
AT1 capital
|
|
|
|
Capital instruments and related share premium accounts
|
13,759
|
13,784
|
13,284
|
Other regulatory adjustments and deductions
|
(60)
|
(60)
|
(60)
|
AT1 capital
|
13,699
|
13,724
|
13,224
|
|
|
|
|
T1 capital
|
60,339
|
59,709
|
60,102
|
|
|
|
|
T2 capital
|
|
|
|
Capital instruments and related share premium accounts
|
8,212
|
7,538
|
9,000
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries
|
769
|
1,061
|
1,095
|
Credit risk adjustments (excess of impairment over expected
losses)
|
71
|
66
|
35
|
Other regulatory adjustments and deductions
|
(160)
|
(160)
|
(160)
|
Total regulatory capital
|
69,231
|
68,214
|
70,072
|
|
|
|
|
Less : Ineligible T2 capital (including minority interests) issued
by subsidiaries
|
(769)
|
(1,061)
|
(1,095)
|
Eligible liabilities
|
42,559
|
43,489
|
43,851
|
Total own funds and eligible liabilities3
|
111,021
|
110,642
|
112,828
|
|
|
|
|
Total RWAs
|
336,946
|
338,448
|
336,518
|
1
|
CET1, T1 and T2 capital, and RWAs are calculated applying the
transitional arrangements of the CRR as amended by CRR II. This
includes IFRS 9 transitional arrangements and the grandfathering of
CRR II non-compliant capital instruments.
|
2
|
The fully loaded CET1 ratio, as is relevant for assessing against
the conversion trigger in Barclays PLC AT1 securities, was 13.8%,
with £46.4bn of CET1 capital and £336.9bn of RWAs
calculated without applying the transitional arrangements of the
CRR as amended by CRR II.
|
3
|
As at 30 June 2023, the Group's MREL requirement, excluding the PRA
buffer, was to hold £98.3bn of own funds and eligible
liabilities equating to 29.2%
of RWAs. The Group remains above its MREL regulatory requirement
including the PRA buffer.
|
|
Movement in CET1 capital
|
Three months ended 30.06.23
|
Six months ended 30.06.23
|
|
£m
|
£m
|
|
|
Opening CET1 capital
|
45,985
|
46,878
|
|
|
|
|
|
Profit for the period attributable to equity holders
|
1,588
|
3,618
|
|
Own credit relating to derivative liabilities
|
15
|
8
|
|
Ordinary share dividends paid and foreseen
|
(284)
|
(622)
|
|
Purchased and foreseeable share repurchase
|
—
|
(500)
|
|
Other equity coupons paid and foreseen
|
(246)
|
(507)
|
|
Increase in retained regulatory capital generated from
earnings
|
1,073
|
1,997
|
|
|
|
|
|
Net impact of share schemes
|
134
|
(156)
|
|
Fair value through other comprehensive income reserve
|
(74)
|
75
|
|
Currency translation reserve
|
(642)
|
(1,173)
|
|
Other reserves
|
(16)
|
(20)
|
|
Decrease in other qualifying reserves
|
(598)
|
(1,274)
|
|
|
|
|
|
Pension remeasurements within reserves
|
(611)
|
(476)
|
|
Defined benefit pension fund asset deduction
|
598
|
435
|
|
Net impact of pensions
|
(13)
|
(41)
|
|
|
|
|
|
Additional value adjustments (PVA)
|
113
|
(74)
|
|
Goodwill and intangible assets
|
58
|
(360)
|
|
Deferred tax assets that rely on future profitability excluding
those arising from temporary differences
|
63
|
128
|
|
Excess of expected loss over impairment
|
4
|
(109)
|
|
Adjustment under IFRS 9 transitional arrangements
|
(39)
|
(494)
|
|
Other regulatory adjustments
|
(6)
|
(11)
|
|
Increase/(decrease) in regulatory capital due to adjustments and
deductions
|
193
|
(920)
|
|
|
|
|
|
Closing CET1 capital
|
46,640
|
46,640
|
£3.6bn of capital generated from profit was partially offset
by distributions of £1.6bn comprising:
|
|
●
|
£0.6bn accrual towards a FY23 dividend
|
●
|
£0.5bn of buybacks announced with FY22 results
|
●
|
£0.5bn of equity coupons paid and foreseen
|
Other significant movements in the period were:
|
|
●
|
£1.2bn decrease in the currency translation reserve driven by
the strengthening of GBP against USD since December
2022
|
●
|
£0.4bn increase in the goodwill and intangibles deduction
primarily as a result of the acquisition of KMC
|
●
|
£0.5bn decrease in IFRS 9 transitional relief primarily due to
the relief applied to the pre-2020 impairment charge reducing to 0%
in 2023 from 25% in 2022 and the relief applied to the
post-2022 impairment charge reducing to 50% in 2023 from 75% in
2022.
|
RWAs by risk type and business
|
|||||||||||||
|
Credit risk
|
|
Counterparty credit risk
|
|
Market Risk
|
|
Operational
risk
|
Total
RWAs
|
|||||
As at 30.06.23
|
STD
|
IRB
|
|
STD
|
IRB
|
Settlement
Risk
|
CVA
|
|
STD
|
IMA
|
|
|
|
Barclays UK
|
8,377
|
52,867
|
|
245
|
—
|
—
|
124
|
|
374
|
—
|
|
11,054
|
73,041
|
Corporate and Investment Bank
|
33,567
|
75,880
|
|
17,551
|
20,687
|
454
|
2,841
|
|
16,179
|
22,251
|
|
27,093
|
216,503
|
Consumer, Cards and Payments
|
26,306
|
4,484
|
|
202
|
51
|
—
|
63
|
|
3
|
424
|
|
6,527
|
38,060
|
Barclays International
|
59,873
|
80,364
|
|
17,753
|
20,738
|
454
|
2,904
|
|
16,182
|
22,675
|
|
33,620
|
254,563
|
Head Office
|
2,584
|
7,567
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
|
(809)
|
9,342
|
Barclays Group
|
70,834
|
140,798
|
|
17,998
|
20,738
|
454
|
3,028
|
|
16,556
|
22,675
|
|
43,865
|
336,946
|
As at 31.03.23
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
7,816
|
55,174
|
|
246
|
—
|
—
|
115
|
|
196
|
—
|
|
11,054
|
74,601
|
Corporate and Investment Bank
|
33,904
|
75,225
|
|
17,014
|
21,692
|
237
|
2,811
|
|
15,734
|
23,136
|
|
27,093
|
216,846
|
Consumer, Cards and Payments
|
26,511
|
4,343
|
|
205
|
45
|
—
|
60
|
|
—
|
525
|
|
6,527
|
38,216
|
Barclays International
|
60,415
|
79,568
|
|
17,219
|
21,737
|
237
|
2,871
|
|
15,734
|
23,661
|
|
33,620
|
255,062
|
Head Office
|
2,578
|
7,016
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
|
(809)
|
8,785
|
Barclays Group
|
70,809
|
141,758
|
|
17,465
|
21,737
|
237
|
2,986
|
|
15,930
|
23,661
|
|
43,865
|
338,448
|
As at 31.12.22
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
6,836
|
54,752
|
|
167
|
—
|
—
|
72
|
|
233
|
—
|
|
11,023
|
73,083
|
Corporate and Investment Bank
|
35,738
|
75,413
|
|
16,814
|
21,449
|
80
|
3,093
|
|
13,716
|
22,497
|
|
27,064
|
215,864
|
Consumer, Cards and Payments
|
27,882
|
3,773
|
|
214
|
46
|
—
|
61
|
|
—
|
388
|
|
6,559
|
38,923
|
Barclays International
|
63,620
|
79,186
|
|
17,028
|
21,495
|
80
|
3,154
|
|
13,716
|
22,885
|
|
33,623
|
254,787
|
Head Office
|
2,636
|
6,843
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
|
(831)
|
8,648
|
Barclays Group
|
73,092
|
140,781
|
|
17,195
|
21,495
|
80
|
3,226
|
|
13,949
|
22,885
|
|
43,815
|
336,518
|
Movement analysis of RWAs
|
Credit risk
|
Counterparty
credit risk
|
Market risk
|
Operational
risk
|
Total RWAs
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Opening RWAs (as at 31.12.22)
|
213,873
|
41,996
|
36,834
|
43,815
|
336,518
|
Book size
|
849
|
2,181
|
3,132
|
50
|
6,212
|
Acquisitions and disposals
|
688
|
—
|
—
|
—
|
688
|
Book quality
|
2,169
|
(247)
|
—
|
—
|
1,922
|
Model updates
|
(2,600)
|
—
|
—
|
—
|
(2,600)
|
Methodology and policy
|
2,461
|
583
|
—
|
—
|
3,044
|
Foreign
exchange movements1
|
(5,808)
|
(2,295)
|
(735)
|
—
|
(8,838)
|
Total RWA movements
|
(2,241)
|
222
|
2,397
|
50
|
428
|
Closing RWAs (as at 30.06.23)
|
211,632
|
42,218
|
39,231
|
43,865
|
336,946
|
1
|
Foreign exchange movements does not include the impact of foreign
exchange for modelled market risk or operational risk
|
Overall RWAs increased £0.4bn to £336.9bn (December 2022:
£336.5bn)
|
|
Credit risk RWAs decreased £2.2bn:
|
|
●
|
A £2.2bn increase in book quality RWAs primarily driven by
changes in risk parameters and HPI refresh within Barclays
UK
|
●
|
A £2.6bn decrease in model updates primarily driven by capital
LGD model update for the mortgage portfolio to reflect the
significant decrease in repossession volume during and post the
COVID pandemic
|
●
|
A £2.5bn increase in methodology and policy primarily driven
by the recalibration of the post model adjustment (PMA) introduced
to address the IRB roadmap changes
|
●
|
A £5.8bn decrease in FX primarily due to the strengthening of
GBP against USD since December 2022
|
Counterparty Credit risk RWAs increased £0.2bn:
|
|
●
|
A £2.2bn increase in book size primarily due to an increase in
trading activity within derivatives
|
●
|
A £2.3bn decrease in FX primarily due to the strengthening of
GBP against USD since December 2022
|
Market risk RWAs increased £2.4bn:
|
|
●
|
A £3.1bn increase in book size primarily due to increased
trading activity
|
Leverage ratios1,2
|
As at 30.06.23
|
As at 31.03.23
|
As at 31.12.22
|
£m
|
£m
|
£m
|
|
UK leverage ratio
|
5.1%
|
5.1%
|
5.3%
|
T1 capital
|
60,339
|
59,709
|
60,102
|
UK leverage exposure
|
1,183,703
|
1,168,899
|
1,129,973
|
Average UK leverage ratio
|
4.8%
|
4.8%
|
4.8%
|
Average T1 capital
|
60,176
|
59,488
|
60,865
|
Average UK leverage exposure
|
1,261,094
|
1,251,286
|
1,280,972
|
1
|
Capital and leverage measures are calculated applying the
transitional arrangements of the CRR as amended by CRR
II.
|
2
|
Fully loaded UK leverage ratio was 5.1%, with £60.1bn of T1
capital and £1,183.5bn of leverage exposure. Fully loaded
average UK leverage ratio was 4.8% with £60.0bn of T1 capital
and £1,260.9bn of leverage exposure. Fully loaded UK leverage
ratios are calculated without applying the transitional
arrangements of the CRR as amended by CRR II.
|
●
|
an
indication of important events that have occurred during the six
months ended 30 June 2023 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 2023
that have materially affected the financial position or performance
of Barclays 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 in the six months ended 30 June 2023
|
C.S. Venkatakrishnan
|
Anna Cross
|
Group Chief Executive
|
Group Finance Director
|
Chairman
|
Executive Directors
|
Non-Executive Directors
|
Nigel Higgins
|
C.S. Venkatakrishnan
|
Robert Berry
|
|
Anna Cross
|
Tim Breedon CBE
|
|
|
Mohamed A. El-Erian
|
|
|
Dawn Fitzpatrick
|
|
|
Mary Francis CBE
|
|
|
Brian Gilvary
|
|
|
Sir John Kingman
|
|
|
Marc Moses
|
|
|
Diane Schueneman
|
|
|
Julia Wilson
|
|
|
|
●
|
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
2023;
|
●
|
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
30.06.23
|
Half year
ended
30.06.22
|
|
Notes1
|
£m
|
£m
|
Interest and similar income
|
|
15,632
|
7,134
|
Interest and similar expense
|
|
(9,309)
|
(2,371)
|
Net interest income
|
|
6,323
|
4,763
|
Fee and commission income
|
3
|
5,257
|
4,726
|
Fee and commission expense
|
3
|
(1,898)
|
(1,302)
|
Net fee and commission income
|
3
|
3,359
|
3,424
|
Net trading income
|
|
3,786
|
5,013
|
Net investment income
|
|
10
|
(116)
|
Other income
|
|
44
|
120
|
Total income
|
|
13,522
|
13,204
|
|
|
|
|
Staff costs
|
4
|
(4,985)
|
(4,583)
|
Infrastructure, administration and general expenses
|
5
|
(3,045)
|
(2,687)
|
Litigation and conduct
|
|
(32)
|
(1,857)
|
Operating expenses
|
|
(8,062)
|
(9,127)
|
|
|
|
|
Share of post-tax results of associates and joint
ventures
|
|
(2)
|
(3)
|
Profit before impairment
|
|
5,458
|
4,074
|
Credit impairment charges
|
|
(896)
|
(341)
|
Profit before tax
|
|
4,562
|
3,733
|
Tax charge
|
|
(914)
|
(823)
|
Profit after tax
|
|
3,648
|
2,910
|
|
|
|
|
Attributable to:
|
|
|
|
Equity holders of the parent
|
|
3,111
|
2,475
|
Other equity instrument holders
|
|
507
|
414
|
Total equity holders of the parent
|
|
3,618
|
2,889
|
Non-controlling interests
|
|
30
|
21
|
Profit after tax
|
|
3,648
|
2,910
|
|
|
|
|
Earnings per share
|
|
|
|
Basic earnings per ordinary share
|
6
|
19.9p
|
14.8p
|
Diluted earnings per ordinary share
|
6
|
19.3p
|
14.5p
|
1
|
For Notes to the Financial Statements see pages 68 to
88.
|
Condensed consolidated statement of comprehensive income
(unaudited)
|
|||
|
|
Half year
ended
30.06.23
|
Half year
ended
30.06.22
|
|
Notes1
|
£m
|
£m
|
Profit after tax
|
|
3,648
|
2,910
|
|
|
|
|
Other comprehensive income/(loss) that may be recycled to profit or
loss:2
|
|
|
|
Currency translation reserve
|
14
|
(1,173)
|
1,703
|
Fair value through other comprehensive income reserve
|
14
|
77
|
(913)
|
Cash flow hedging reserve
|
14
|
(755)
|
(3,818)
|
Other comprehensive loss that may be recycled to
profit
|
|
(1,851)
|
(3,028)
|
|
|
|
|
Other comprehensive income/(loss) not recycled to profit or
loss:2
|
|
|
|
Retirement benefit remeasurements
|
13
|
(476)
|
1,090
|
Fair value through other comprehensive income reserve
|
14
|
(2)
|
154
|
Own credit
|
14
|
(494)
|
855
|
Other comprehensive income not recycled to profit
|
|
(972)
|
2,099
|
|
|
|
|
Other comprehensive loss for the period
|
|
(2,823)
|
(929)
|
|
|
|
|
Total comprehensive income for the period
|
|
825
|
1,981
|
|
|
|
|
Attributable to:
|
|
|
|
Equity holders of the parent
|
|
795
|
1,960
|
Non-controlling interests
|
|
30
|
21
|
Total comprehensive income for the period
|
|
825
|
1,981
|
1
|
For Notes to the Financial Statements see pages 68 to
88.
|
2
|
Reported net of tax.
|
Condensed consolidated balance sheet (unaudited)
|
|||
|
|
As at 30.06.23
|
As at 31.12.22
|
Assets
|
Notes1
|
£m
|
£m
|
Cash and balances at central banks
|
|
252,830
|
256,351
|
Cash collateral and settlement balances
|
|
130,489
|
112,597
|
Debt
securities at amortised cost2
|
|
53,147
|
45,487
|
Loans and advances at amortised cost to banks
|
|
10,895
|
10,015
|
Loans and advances at amortised cost to customers
|
|
337,363
|
343,277
|
Reverse repurchase agreements and other similar secured
lending
|
|
2,600
|
776
|
Trading portfolio assets
|
|
165,834
|
133,813
|
Financial assets at fair value through the income
statement
|
|
235,100
|
213,568
|
Derivative financial instruments
|
8
|
266,312
|
302,380
|
Financial assets at fair value through other comprehensive
income
|
|
66,068
|
65,062
|
Investments in associates and joint ventures
|
|
900
|
922
|
Goodwill and intangible assets
|
10
|
8,607
|
8,239
|
Property, plant and equipment
|
|
3,478
|
3,616
|
Current tax assets
|
|
100
|
385
|
Deferred tax assets
|
|
7,371
|
6,991
|
Retirement benefit assets
|
13
|
4,140
|
4,743
|
Other assets
|
|
4,480
|
5,477
|
Total assets
|
|
1,549,714
|
1,513,699
|
|
|
|
|
Liabilities
|
|
|
|
Deposits at amortised cost from banks
|
|
26,827
|
19,979
|
Deposits at amortised cost from customers
|
|
527,839
|
525,803
|
Cash collateral and settlement balances
|
|
115,190
|
96,927
|
Repurchase agreements and other similar secured
borrowing
|
|
41,213
|
27,052
|
Debt securities in issue
|
|
105,018
|
112,881
|
Subordinated liabilities
|
11
|
11,019
|
11,423
|
Trading portfolio liabilities
|
|
70,980
|
72,924
|
Financial liabilities designated at fair value
|
|
314,654
|
271,637
|
Derivative financial instruments
|
8
|
254,849
|
289,620
|
Current tax liabilities
|
|
675
|
580
|
Deferred tax liabilities
|
|
16
|
16
|
Retirement benefit liabilities
|
13
|
261
|
264
|
Other liabilities
|
|
11,204
|
13,789
|
Provisions
|
12
|
1,424
|
1,544
|
Total liabilities
|
|
1,481,169
|
1,444,439
|
|
|
|
|
Equity
|
|
|
|
Called up share capital and share premium
|
|
4,325
|
4,373
|
Other reserves
|
14
|
(4,457)
|
(2,192)
|
Retained earnings
|
|
54,042
|
52,827
|
Shareholders' equity attributable to ordinary shareholders of the
parent
|
|
53,910
|
55,008
|
Other equity instruments
|
|
13,759
|
13,284
|
Total equity excluding non-controlling interests
|
|
67,669
|
68,292
|
Non-controlling interests
|
|
876
|
968
|
Total equity
|
|
68,545
|
69,260
|
1
|
For Notes to the Financial Statements see pages 68 to
88
|
2
|
For the fair value of debt securities at amortised cost see page
85
|
Condensed consolidated statement of changes in equity
(unaudited)
|
|||||||
|
Called up
share capital and
share premium1,2
|
Other equity
instruments3
|
Other
reserves2,4
|
Retained
earnings2
|
Total
|
Non-controlling
interests5
|
Total equity
|
Half year ended 30.06.2023
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Balance as at 1 January 2023
|
4,373
|
13,284
|
(2,192)
|
52,827
|
68,292
|
968
|
69,260
|
Profit after tax
|
—
|
507
|
—
|
3,111
|
3,618
|
30
|
3,648
|
Currency translation movements
|
—
|
—
|
(1,173)
|
—
|
(1,173)
|
—
|
(1,173)
|
Fair value through other comprehensive income reserve
|
—
|
—
|
75
|
—
|
75
|
—
|
75
|
Cash flow hedges
|
—
|
—
|
(755)
|
—
|
(755)
|
—
|
(755)
|
Retirement benefit remeasurements
|
—
|
—
|
—
|
(476)
|
(476)
|
—
|
(476)
|
Own credit
|
—
|
—
|
(494)
|
—
|
(494)
|
—
|
(494)
|
Total comprehensive income for the period
|
—
|
507
|
(2,347)
|
2,635
|
795
|
30
|
825
|
Employee share schemes and hedging thereof
|
38
|
—
|
—
|
371
|
409
|
—
|
409
|
Issue and redemption of other equity instruments
|
—
|
500
|
—
|
(8)
|
492
|
(93)
|
399
|
Other equity instruments coupon paid
|
—
|
(507)
|
—
|
—
|
(507)
|
—
|
(507)
|
Vesting of employee share schemes
|
—
|
—
|
(4)
|
(484)
|
(488)
|
—
|
(488)
|
Dividends paid
|
—
|
—
|
—
|
(793)
|
(793)
|
(30)
|
(823)
|
Repurchase of shares
|
(86)
|
—
|
86
|
(503)
|
(503)
|
—
|
(503)
|
Other movements
|
—
|
(25)
|
—
|
(3)
|
(28)
|
1
|
(27)
|
Balance as at 30 June 2023
|
4,325
|
13,759
|
(4,457)
|
54,042
|
67,669
|
876
|
68,545
|
|
Called up s
hare capital and
share premium1,2
|
Other equity
instruments3
|
Other
reserves2,4
|
Retained
earnings2
|
Total
|
Non-controlling
interests5
|
Total equity
|
Half year ended 31.12.2022
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Balance as at 1 July 2022
|
4,508
|
12,357
|
(218)
|
52,980
|
69,627
|
969
|
70,596
|
Profit after tax
|
—
|
491
|
—
|
2,548
|
3,039
|
24
|
3,063
|
Currency translation movements
|
—
|
—
|
329
|
—
|
329
|
—
|
329
|
Fair value through other comprehensive income reserve
|
—
|
—
|
(434)
|
—
|
(434)
|
—
|
(434)
|
Cash flow hedges
|
—
|
—
|
(2,564)
|
—
|
(2,564)
|
—
|
(2,564)
|
Retirement benefit remeasurements
|
—
|
—
|
—
|
(1,371)
|
(1,371)
|
—
|
(1,371)
|
Own credit
|
—
|
—
|
608
|
—
|
608
|
—
|
608
|
Total comprehensive income for the period
|
—
|
491
|
(2,061)
|
1,177
|
(393)
|
24
|
(369)
|
Employee share schemes and hedging thereof
|
37
|
—
|
—
|
59
|
96
|
—
|
96
|
Issue and redemption of other equity instruments
|
—
|
917
|
—
|
3
|
920
|
—
|
920
|
Other equity instruments coupon paid
|
—
|
(491)
|
—
|
—
|
(491)
|
—
|
(491)
|
Disposal of Absa holding
|
—
|
—
|
(45)
|
45
|
—
|
—
|
—
|
Vesting of employee share schemes
|
—
|
—
|
(2)
|
(21)
|
(23)
|
—
|
(23)
|
Dividends paid
|
—
|
—
|
—
|
(364)
|
(364)
|
(24)
|
(388)
|
Repurchase of shares
|
(172)
|
—
|
172
|
(1,076)
|
(1,076)
|
—
|
(1,076)
|
Own credit realisation
|
—
|
—
|
(36)
|
36
|
—
|
—
|
—
|
Other movements
|
—
|
10
|
(2)
|
(12)
|
(4)
|
(1)
|
(5)
|
Balance as at 31 December 2022
|
4,373
|
13,284
|
(2,192)
|
52,827
|
68,292
|
968
|
69,260
|
Condensed consolidated statement of changes in equity
(unaudited)
|
|||||||
|
Called up
share capital and
share premium1,2
|
Other equity
instruments3
|
Other
reserves2,4
|
Retained
earnings2
|
Total
|
Non-controlling
interests5
|
Total equity
|
Half year ended 30.06.2022
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Balance as at 1 January 2022
|
4,536
|
12,259
|
1,770
|
50,487
|
69,052
|
989
|
70,041
|
Profit after tax
|
—
|
414
|
—
|
2,475
|
2,889
|
21
|
2,910
|
Currency translation movements
|
—
|
—
|
1,703
|
—
|
1,703
|
—
|
1,703
|
Fair value through other comprehensive income reserve
|
—
|
—
|
(759)
|
—
|
(759)
|
—
|
(759)
|
Cash flow hedges
|
—
|
—
|
(3,818)
|
—
|
(3,818)
|
—
|
(3,818)
|
Retirement benefit remeasurements
|
—
|
—
|
—
|
1,090
|
1,090
|
—
|
1,090
|
Own credit
|
—
|
—
|
855
|
—
|
855
|
—
|
855
|
Total comprehensive income for the period
|
—
|
414
|
(2,019)
|
3,565
|
1,960
|
21
|
1,981
|
Employee share schemes and hedging thereof
|
33
|
—
|
—
|
417
|
450
|
—
|
450
|
Issue and redemption of other equity instruments
|
—
|
115
|
—
|
25
|
140
|
(20)
|
120
|
Other equity instruments coupon paid
|
—
|
(414)
|
—
|
—
|
(414)
|
—
|
(414)
|
Disposal of Absa holding
|
—
|
—
|
(39)
|
39
|
—
|
—
|
—
|
Vesting of employee share schemes
|
—
|
—
|
7
|
(464)
|
(457)
|
—
|
(457)
|
Dividends paid
|
—
|
—
|
—
|
(664)
|
(664)
|
(21)
|
(685)
|
Repurchase of shares
|
(61)
|
—
|
61
|
(432)
|
(432)
|
—
|
(432)
|
Other movements
|
—
|
(17)
|
2
|
7
|
(8)
|
—
|
(8)
|
Balance as at 30 June 2022
|
4,508
|
12,357
|
(218)
|
52,980
|
69,627
|
969
|
70,596
|
1
|
As at 30 June 2023, Called up share capital comprises 15,556m
(December 2022: 15,871m) ordinary shares of 25p each.
|
2
|
During the period ended 30 June 2023, Barclays PLC announced and
executed a share buy-back of up to £500m. Accordingly, it
repurchased and cancelled 343m shares. The nominal value of
£86m has been transferred from Share capital to Capital
redemption reserve within Other reserves. During the year ended 31
December 2022, two share buybacks were executed, totalling
£1500m. Accordingly, Barclays PLC repurchased and cancelled
931m shares. The nominal value of £233m was transferred from
Share capital to Capital redemption reserve within Other
reserves.
|
3
|
Other equity instruments of £13,759m (December 2022:
£13,284m) comprise AT1 securities issued by Barclays PLC.
There were two issuances in the form of Fixed Rate Resetting
Perpetual Subordinated Contingent Convertible Securities for
£1,745m (net of £5m issuance costs) and one redemption of
£1,245m (net of £5m issuance costs, transferred to
retained earnings on redemption) for the period ended 30 June 2023.
During the period ended 31 December 2022, there were three
issuances in the form of Fixed Rate Resetting Perpetual
Subordinated Contingent Convertible Securities, for £3,158m,
which includes issuance costs of £9m and two redemptions
totalling £2,126m.
|
4
|
See Note 14 Other reserves.
|
5
|
During the period ended 30 June 2023 a redemption notice was
published related to the Undated Floating Rate Primary Capital Note
Series 1, as a result of which £93m was transferred from
non-controlling interests to subordinated liabilities ahead of
redemption on 26 July 2023 (year ended 31 December 2022: one
redemption of £20m, related to the Undated Floating Rate
Primary Capital Notes Series 3).
|
Condensed consolidated cash flow statement (unaudited)
|
||
|
Half year
ended
30.06.23
|
Half year
ended
30.06.22
|
|
£m
|
£m
|
Profit before tax
|
4,562
|
3,733
|
Adjustment for non-cash items
|
10,085
|
(7,115)
|
Net decrease/(increase) in loans and advances at amortised
cost
|
7,734
|
(17,667)
|
Net increase in deposits at amortised cost
|
8,919
|
49,237
|
Net decrease/(increase) in debt securities in issue
|
(9,596)
|
19,748
|
Changes in other operating assets and liabilities
|
2,553
|
14,719
|
Corporate income tax paid
|
(346)
|
(401)
|
Net cash from operating activities
|
23,911
|
62,254
|
Net cash from investing activities
|
(14,784)
|
(14,939)
|
Net cash from financing
activities1
|
(191)
|
(5,500)
|
Effect of exchange rates on cash and cash equivalents
|
(6,069)
|
7,047
|
Net increase in cash and cash equivalents
|
2,867
|
48,862
|
Cash and cash equivalents at beginning of the period
|
278,790
|
259,206
|
Cash and cash equivalents at end of the period
|
281,657
|
308,068
|
1
|
Issuance and redemption of debt securities included in financing
activities relate to instruments that qualify as eligible
liabilities and satisfy regulatory requirements for MREL
instruments which came into effect during 2019.
|
Analysis of results by business
|
|
|
|
|
|
Barclays UK
|
Barclays
International
|
Head Office
|
Barclays Group
|
Half year ended 30.06.23
|
£m
|
£m
|
£m
|
£m
|
Total income
|
3,922
|
9,722
|
(122)
|
13,522
|
Operating costs
|
(2,182)
|
(5,703)
|
(145)
|
(8,030)
|
Litigation and conduct
|
3
|
(30)
|
(5)
|
(32)
|
Total operating expenses
|
(2,179)
|
(5,733)
|
(150)
|
(8,062)
|
Other
net income/(expenses)1
|
—
|
9
|
(11)
|
(2)
|
Profit/(loss) before impairment
|
1,743
|
3,998
|
(283)
|
5,458
|
Credit impairment charges
|
(208)
|
(679)
|
(9)
|
(896)
|
Profit/(loss) before tax
|
1,535
|
3,319
|
(292)
|
4,562
|
|
|
|
|
|
As at 30.06.23
|
£bn
|
£bn
|
£bn
|
£bn
|
Total assets
|
304.8
|
1,226.4
|
18.5
|
1,549.7
|
Total liabilities
|
276.9
|
1,142.4
|
61.9
|
1,481.2
|
|
Barclays UK
|
Barclays
International
|
Head Office
|
Barclays Group
|
Half year ended 30.06.22
|
£m
|
£m
|
£m
|
£m
|
Total income
|
3,373
|
9,940
|
(109)
|
13,204
|
Operating costs
|
(2,083)
|
(5,042)
|
(145)
|
(7,270)
|
Litigation and conduct
|
(25)
|
(1,832)
|
—
|
(1,857)
|
Total operating expenses
|
(2,108)
|
(6,874)
|
(145)
|
(9,127)
|
Other
net income/(expenses)1
|
—
|
13
|
(16)
|
(3)
|
Profit/(loss) before impairment
|
1,265
|
3,079
|
(270)
|
4,074
|
Credit impairment (charges)/releases
|
(48)
|
(310)
|
17
|
(341)
|
Profit/(loss) before tax
|
1,217
|
2,769
|
(253)
|
3,733
|
|
|
|
|
|
As at 31.12.22
|
£bn
|
£bn
|
£bn
|
£bn
|
Total assets
|
313.2
|
1,181.3
|
19.2
|
1,513.7
|
Total liabilities
|
287.3
|
1,093.9
|
63.2
|
1,444.4
|
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 30.06.23
|
Half year ended 30.06.22
|
|
£m
|
£m
|
United Kingdom
|
7,312
|
7,972
|
Europe
|
1,265
|
1,311
|
Americas
|
4,187
|
3,200
|
Africa and Middle East
|
42
|
31
|
Asia
|
716
|
690
|
Total
|
13,522
|
13,204
|
1
|
The geographical analysis is based on the location of the office
where the transactions are recorded.
|
|
Barclays UK
|
Barclays International
|
Head Office
|
Total
|
Half year ended 30.06.23
|
£m
|
£m
|
£m
|
£m
|
Fee type
|
|
|
|
|
Transactional
|
560
|
1,827
|
—
|
2,387
|
Advisory
|
57
|
457
|
—
|
514
|
Brokerage and execution
|
122
|
1,042
|
—
|
1,164
|
Underwriting and syndication
|
—
|
1,036
|
—
|
1,036
|
Other
|
27
|
53
|
2
|
82
|
Total revenue from contracts with customers
|
766
|
4,415
|
2
|
5,183
|
Other non-contract fee income
|
—
|
74
|
—
|
74
|
Fee and commission income
|
766
|
4,489
|
2
|
5,257
|
Fee and commission expense
|
(188)
|
(1,707)
|
(3)
|
(1,898)
|
Net fee and commission income
|
578
|
2,782
|
(1)
|
3,359
|
|
Barclays UK
|
Barclays International
|
Head Office
|
Total
|
Half year ended 30.06.22
|
£m
|
£m
|
£m
|
£m
|
Fee type
|
|
|
|
|
Transactional
|
515
|
1,448
|
—
|
1,963
|
Advisory
|
83
|
511
|
—
|
594
|
Brokerage and execution
|
125
|
762
|
—
|
887
|
Underwriting and syndication
|
—
|
1,102
|
—
|
1,102
|
Other
|
29
|
80
|
2
|
111
|
Total revenue from contracts with customers
|
752
|
3,903
|
2
|
4,657
|
Other non-contract fee income
|
—
|
69
|
—
|
69
|
Fee and commission income
|
752
|
3,972
|
2
|
4,726
|
Fee and commission expense
|
(147)
|
(1,153)
|
(2)
|
(1,302)
|
Net fee and commission income
|
605
|
2,819
|
—
|
3,424
|
|
Half year
ended
30.06.23
|
Half year
ended
30.06.22
|
Compensation costs
|
£m
|
£m
|
Upfront bonus charge
|
665
|
705
|
Deferred bonus charge
|
263
|
280
|
Other incentives
|
42
|
44
|
Performance costs
|
970
|
1,029
|
Salaries
|
2,540
|
2,278
|
Social security costs
|
399
|
377
|
Post-retirement benefits
|
268
|
282
|
Other compensation costs
|
281
|
241
|
Total compensation costs
|
4,458
|
4,207
|
|
|
|
Other resourcing costs
|
|
|
Outsourcing
|
340
|
268
|
Redundancy and restructuring
|
63
|
(15)
|
Temporary staff costs
|
53
|
53
|
Other
|
71
|
70
|
Total other resourcing costs
|
527
|
376
|
|
|
|
Total staff costs
|
4,985
|
4,583
|
|
|
|
Barclays Group compensation costs as a % of total
income
|
33.0%
|
31.9%
|
|
Half year
ended
30.06.23
|
Half year
ended
30.06.22
|
Infrastructure costs
|
£m
|
£m
|
Property and equipment
|
857
|
758
|
Depreciation and amortisation
|
902
|
863
|
Impairment of property, equipment and intangible
assets
|
18
|
21
|
Total infrastructure costs
|
1,777
|
1,642
|
|
|
|
Administration and general expenses
|
|
|
Consultancy, legal and professional fees
|
336
|
288
|
Marketing and advertising
|
288
|
206
|
Other administration and general expenses
|
644
|
551
|
Total administration and general expenses
|
1,268
|
1,045
|
|
|
|
Total infrastructure, administration and general
expenses
|
3,045
|
2,687
|
|
Half year
ended
30.06.23
|
Half year
ended
30.06.22
|
|
£m
|
£m
|
Profit attributable to ordinary equity holders of the
parent
|
3,111
|
2,475
|
|
|
|
|
m
|
m
|
Basic weighted average number of shares in issue
|
15,645
|
16,684
|
Number of potential ordinary shares
|
470
|
428
|
Diluted weighted average number of shares
|
16,115
|
17,112
|
|
|
|
|
p
|
p
|
Basic earnings per ordinary share
|
19.9
|
14.8
|
Diluted earnings per ordinary share
|
19.3
|
14.5
|
|
Half year ended 30.06.23
|
Half year ended 30.06.22
|
||
|
Per share
|
Total
|
Per share
|
Total
|
Dividends paid during the period
|
p
|
£m
|
p
|
£m
|
Full year dividend paid during period
|
5.00
|
793
|
4.00
|
664
|
|
Contract
notional
amount
|
|
Fair value
|
|
|
|
Assets
|
Liabilities
|
|
As at 30.06.23
|
£m
|
|
£m
|
£m
|
Foreign exchange derivatives
|
6,411,178
|
|
89,839
|
(83,459)
|
Interest rate derivatives
|
53,452,259
|
|
119,533
|
(107,171)
|
Credit derivatives
|
1,482,669
|
|
5,280
|
(5,999)
|
Equity and stock index and commodity derivatives
|
2,835,137
|
|
49,986
|
(57,777)
|
Derivative assets/(liabilities) held for trading
|
64,181,243
|
|
264,638
|
(254,406)
|
|
|
|
|
|
Derivatives in hedge accounting relationships
|
|
|
|
|
Derivatives designated as cash flow hedges
|
156,774
|
|
1,428
|
—
|
Derivatives designated as fair value hedges
|
125,205
|
|
201
|
(434)
|
Derivatives designated as hedges of net investments
|
3,864
|
|
45
|
(9)
|
Derivative assets/(liabilities) designated in hedge accounting
relationships
|
285,843
|
|
1,674
|
(443)
|
|
|
|
|
|
Total recognised derivative assets/(liabilities)
|
64,467,086
|
|
266,312
|
(254,849)
|
|
|
|
|
|
As at 31.12.22
|
|
|
|
|
Foreign exchange derivatives
|
5,908,087
|
|
109,288
|
(103,918)
|
Interest rate derivatives
|
42,506,611
|
|
134,496
|
(121,290)
|
Credit derivatives
|
1,727,220
|
|
5,423
|
(6,052)
|
Equity and stock index and commodity derivatives
|
2,547,855
|
|
52,440
|
(57,313)
|
Derivative assets/(liabilities) held for trading
|
52,689,773
|
|
301,647
|
(288,573)
|
|
|
|
|
|
Derivatives in hedge accounting relationships
|
|
|
|
|
Derivatives designated as cash flow hedges
|
155,483
|
|
549
|
(212)
|
Derivatives designated as fair value hedges
|
126,060
|
|
83
|
(815)
|
Derivatives designated as hedges of net investments
|
3,962
|
|
101
|
(20)
|
Derivative assets/(liabilities) designated in hedge accounting
relationships
|
285,505
|
|
733
|
(1,047)
|
|
|
|
|
|
Total recognised derivative assets/(liabilities)
|
52,975,278
|
|
302,380
|
(289,620)
|
|
Valuation technique using
|
|
||
|
Quoted market
prices
|
Observable
inputs
|
Significant
unobservable
inputs
|
|
|
(Level 1)
|
(Level 2)
|
(Level 3)
|
Total
|
As at 30.06.23
|
£m
|
£m
|
£m
|
£m
|
Trading portfolio assets
|
87,003
|
72,032
|
6,799
|
165,834
|
Financial assets at fair value through the income
statement
|
6,144
|
219,938
|
9,018
|
235,100
|
Derivative financial instruments
|
3,484
|
258,295
|
4,533
|
266,312
|
Financial assets at fair value through other comprehensive
income
|
24,477
|
41,477
|
114
|
66,068
|
Investment property
|
—
|
—
|
2
|
2
|
Total assets
|
121,108
|
591,742
|
20,466
|
733,316
|
|
|
|
|
|
Trading portfolio liabilities
|
(37,451)
|
(33,477)
|
(52)
|
(70,980)
|
Financial liabilities designated at fair value
|
(115)
|
(313,439)
|
(1,100)
|
(314,654)
|
Derivative financial instruments
|
(4,064)
|
(245,517)
|
(5,268)
|
(254,849)
|
Total liabilities
|
(41,630)
|
(592,433)
|
(6,420)
|
(640,483)
|
|
|
|
|
|
As at 31.12.22
|
|
|
|
|
Trading portfolio assets
|
62,478
|
64,855
|
6,480
|
133,813
|
Financial assets at fair value through the income
statement
|
5,720
|
198,723
|
9,125
|
213,568
|
Derivative financial instruments
|
10,054
|
287,152
|
5,174
|
302,380
|
Financial assets at fair value through other comprehensive
income
|
20,704
|
44,347
|
11
|
65,062
|
Investment property
|
—
|
—
|
5
|
5
|
Total assets
|
98,956
|
595,077
|
20,795
|
714,828
|
|
|
|
|
|
Trading portfolio liabilities
|
(44,128)
|
(28,740)
|
(56)
|
(72,924)
|
Financial liabilities designated at fair value
|
(133)
|
(270,454)
|
(1,050)
|
(271,637)
|
Derivative financial instruments
|
(10,823)
|
(272,434)
|
(6,363)
|
(289,620)
|
Total liabilities
|
(55,084)
|
(571,628)
|
(7,469)
|
(634,181)
|
|
As at 30.06.23
|
As at 31.12.22
|
||
|
Assets
|
Liabilities
|
Assets
|
Liabilities
|
|
£m
|
£m
|
£m
|
£m
|
Interest rate derivatives
|
2,523
|
(2,043)
|
2,362
|
(2,858)
|
Foreign exchange derivatives
|
182
|
(177)
|
1,513
|
(1,474)
|
Credit derivatives
|
342
|
(694)
|
290
|
(603)
|
Equity derivatives
|
1,488
|
(2,356)
|
1,009
|
(1,428)
|
Corporate debt
|
1,769
|
(35)
|
1,677
|
(49)
|
Reverse repurchase and repurchase agreements
|
44
|
(643)
|
37
|
(434)
|
Non-asset backed loans
|
9,631
|
—
|
9,949
|
—
|
Private equity investments
|
1,280
|
(8)
|
1,291
|
(8)
|
Other1
|
3,207
|
(464)
|
2,667
|
(615)
|
Total
|
20,466
|
(6,420)
|
20,795
|
(7,469)
|
1
|
Other includes commercial real estate loans, funds and fund-linked
products, asset backed loans, asset backed securities, equity cash
products, issued debt, commercial paper, Government and government
sponsored debt and investment property.
|
Level 3 movement analysis
|
|||||||||||
|
|
|
|
|
|
Total gains and (losses) in the period recognised in the income
statement
|
Total gains or (losses) recognised in OCI
|
Transfers
|
|
||
|
As at
01.01.23
|
Purchases
|
Sales
|
Issues
|
Settle-ments
|
Trading income
|
Other income
|
In
|
Out
|
As at 30.06.23
|
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Corporate debt
|
597
|
336
|
(118)
|
—
|
(53)
|
5
|
—
|
—
|
36
|
(29)
|
774
|
Non-asset backed loans
|
4,837
|
919
|
(1,152)
|
—
|
(311)
|
4
|
—
|
—
|
556
|
(334)
|
4,519
|
Other
|
1,046
|
1,030
|
(606)
|
—
|
(38)
|
(43)
|
—
|
—
|
430
|
(313)
|
1,506
|
Trading portfolio assets
|
6,480
|
2,285
|
(1,876)
|
—
|
(402)
|
(34)
|
—
|
—
|
1,022
|
(676)
|
6,799
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate debt
|
1,079
|
—
|
(120)
|
—
|
—
|
(20)
|
(3)
|
—
|
—
|
—
|
936
|
Non-asset backed loans
|
5,112
|
1,051
|
(305)
|
—
|
(641)
|
(46)
|
(42)
|
—
|
50
|
(114)
|
5,065
|
Private equity investments
|
1,284
|
50
|
(22)
|
—
|
(3)
|
(50)
|
14
|
—
|
2
|
—
|
1,275
|
Reverse repurchase and repurchase agreements
|
38
|
—
|
—
|
—
|
—
|
(11)
|
—
|
—
|
46
|
(29)
|
44
|
Other
|
1,612
|
796
|
(530)
|
—
|
(151)
|
(26)
|
(9)
|
—
|
22
|
(16)
|
1,698
|
Financial assets at fair value through the income
statement
|
9,125
|
1,897
|
(977)
|
—
|
(795)
|
(153)
|
(40)
|
—
|
120
|
(159)
|
9,018
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate debt
|
—
|
13
|
—
|
—
|
—
|
—
|
—
|
—
|
46
|
—
|
59
|
Non-asset backed loans
|
—
|
47
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
47
|
Private equity investments
|
7
|
—
|
—
|
—
|
—
|
—
|
—
|
(2)
|
—
|
—
|
5
|
Other
|
4
|
—
|
—
|
—
|
(1)
|
—
|
—
|
—
|
—
|
—
|
3
|
Assets at fair value through other comprehensive
income
|
11
|
60
|
—
|
—
|
(1)
|
—
|
—
|
(2)
|
46
|
—
|
114
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment property
|
5
|
—
|
—
|
—
|
—
|
—
|
(3)
|
—
|
—
|
—
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading portfolio liabilities
|
(56)
|
(16)
|
4
|
—
|
—
|
15
|
—
|
—
|
(8)
|
9
|
(52)
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial liabilities designated at fair value
|
(1,050)
|
—
|
—
|
(226)
|
—
|
4
|
(1)
|
—
|
(290)
|
463
|
(1,100)
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate derivatives
|
(496)
|
2
|
—
|
—
|
19
|
(35)
|
—
|
—
|
544
|
446
|
480
|
Foreign exchange derivatives
|
39
|
—
|
—
|
—
|
—
|
(31)
|
—
|
—
|
12
|
(15)
|
5
|
Credit derivatives
|
(313)
|
(191)
|
5
|
—
|
66
|
13
|
—
|
—
|
52
|
16
|
(352)
|
Equity derivatives
|
(419)
|
(90)
|
—
|
—
|
(132)
|
(135)
|
—
|
—
|
(104)
|
12
|
(868)
|
Net derivative financial instruments1
|
(1,189)
|
(279)
|
5
|
—
|
(47)
|
(188)
|
—
|
—
|
504
|
459
|
(735)
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
13,326
|
3,947
|
(2,844)
|
(226)
|
(1,245)
|
(356)
|
(44)
|
(2)
|
1,394
|
96
|
14,046
|
1
|
Derivative financial instruments are represented on a net basis. On
a gross basis, derivative financial assets were £4,533m and
derivative financial liabilities were £5,268m.
|
Level 3 movement analysis
|
|||||||||||
|
As at
01.01.22
|
Purchases
|
Sales
|
Issues
|
Settle-
ments
|
Total gains and (losses) in the period recognised in the income
statement
|
Total gains or (losses) recognised in OCI
|
Transfers
|
As at 30.06.22
|
||
|
Trading income
|
Other income
|
In
|
Out
|
|||||||
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Corporate debt
|
389
|
90
|
(144)
|
—
|
(17)
|
54
|
—
|
—
|
43
|
(11)
|
404
|
Non-asset backed loans
|
758
|
2,448
|
(459)
|
—
|
—
|
11
|
—
|
—
|
50
|
(113)
|
2,695
|
Other
|
1,134
|
419
|
(178)
|
—
|
(302)
|
60
|
—
|
—
|
191
|
(167)
|
1,157
|
Trading portfolio assets
|
2,281
|
2,957
|
(781)
|
—
|
(319)
|
125
|
—
|
—
|
284
|
(291)
|
4,256
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate debt
|
816
|
45
|
—
|
—
|
(148)
|
55
|
—
|
—
|
—
|
—
|
768
|
Non-asset backed loans
|
5,647
|
1,847
|
(757)
|
—
|
(484)
|
(334)
|
—
|
—
|
52
|
(9)
|
5,962
|
Private equity investments
|
1,095
|
99
|
(16)
|
—
|
(1)
|
84
|
(26)
|
—
|
59
|
(4)
|
1,290
|
Reverse repurchase and repurchase agreements
|
13
|
66
|
—
|
—
|
(12)
|
16
|
—
|
—
|
95
|
—
|
178
|
Other
|
2,141
|
4,706
|
(5,579)
|
—
|
4
|
(57)
|
184
|
—
|
4
|
(19)
|
1,384
|
Financial assets at fair value through the income
statement
|
9,712
|
6,763
|
(6,352)
|
—
|
(641)
|
(236)
|
158
|
—
|
210
|
(32)
|
9,582
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-asset backed loans
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
1
|
6
|
—
|
7
|
Asset backed securities
|
38
|
—
|
—
|
—
|
—
|
—
|
—
|
(2)
|
—
|
—
|
36
|
Assets at fair value through other comprehensive
income
|
38
|
—
|
—
|
—
|
—
|
—
|
—
|
(1)
|
6
|
—
|
43
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment property
|
7
|
—
|
(1)
|
—
|
—
|
—
|
(1)
|
—
|
—
|
—
|
5
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading portfolio liabilities
|
(27)
|
(35)
|
3
|
—
|
—
|
(29)
|
—
|
—
|
—
|
6
|
(82)
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial liabilities designated at fair value
|
(410)
|
(5)
|
—
|
(13)
|
47
|
(22)
|
—
|
—
|
(81)
|
37
|
(447)
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate derivatives
|
(260)
|
25
|
—
|
—
|
(4)
|
(305)
|
(9)
|
—
|
271
|
6
|
(276)
|
Foreign exchange derivatives
|
2
|
—
|
—
|
—
|
(9)
|
273
|
—
|
—
|
(65)
|
25
|
226
|
Credit derivatives
|
(386)
|
(36)
|
5
|
—
|
60
|
(99)
|
—
|
—
|
20
|
55
|
(381)
|
Equity derivatives
|
(1,405)
|
(83)
|
—
|
—
|
171
|
980
|
(1)
|
—
|
(9)
|
272
|
(75)
|
Net derivative financial instruments1
|
(2,049)
|
(94)
|
5
|
—
|
218
|
849
|
(10)
|
—
|
217
|
358
|
(506)
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
9,552
|
9,586
|
(7,126)
|
(13)
|
(695)
|
687
|
147
|
(1)
|
636
|
78
|
12,851
|
1
|
Derivative financial instruments are represented on a net basis. On
a gross basis, derivative financial assets were £3,873m and
derivative financial liabilities were £4,379m.
|
|
Half year ended 30.06.23
|
Half year ended 30.06.22
|
||||||
|
Income statement
|
Other
comprehensive
income
|
Total
|
Income statement
|
Other
comprehensive income
|
Total
|
||
|
Trading
income
|
Other
income
|
Trading
income
|
Other
income
|
||||
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Trading portfolio assets
|
(35)
|
—
|
—
|
(35)
|
121
|
—
|
—
|
121
|
Financial assets at fair value through the income
statement
|
(144)
|
(40)
|
—
|
(184)
|
(165)
|
(22)
|
—
|
(187)
|
Financial assets at fair value through other comprehensive
income
|
—
|
—
|
(2)
|
(2)
|
—
|
—
|
(1)
|
(1)
|
Investment properties
|
—
|
(3)
|
—
|
(3)
|
—
|
(1)
|
—
|
(1)
|
Trading portfolio liabilities
|
15
|
—
|
—
|
15
|
(35)
|
—
|
—
|
(35)
|
Financial liabilities designated at fair value
|
2
|
(1)
|
—
|
1
|
(14)
|
—
|
—
|
(14)
|
Net derivative financial instruments
|
(186)
|
—
|
—
|
(186)
|
862
|
(1)
|
—
|
861
|
Total
|
(348)
|
(44)
|
(2)
|
(394)
|
769
|
(24)
|
(1)
|
744
|
Sensitivity analysis of valuations using unobservable
inputs
|
||||||||
|
|
|
|
|
|
|
|
|
|
As at 30.06.23
|
As at 31.12.22
|
||||||
|
Favourable changes
|
Unfavourable changes
|
Favourable changes
|
Unfavourable changes
|
||||
|
Income
statement
|
Equity
|
Income
statement
|
Equity
|
Income
statement
|
Equity
|
Income
statement
|
Equity
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Interest rate derivatives
|
123
|
—
|
(186)
|
—
|
119
|
—
|
(155)
|
—
|
Foreign exchange derivatives
|
11
|
—
|
(17)
|
—
|
16
|
—
|
(22)
|
—
|
Credit derivatives
|
26
|
—
|
(79)
|
—
|
79
|
—
|
(71)
|
—
|
Equity derivatives
|
186
|
—
|
(264)
|
—
|
161
|
—
|
(168)
|
—
|
Corporate debt
|
23
|
—
|
(22)
|
—
|
45
|
—
|
(27)
|
—
|
Non-asset backed loans
|
360
|
1
|
(590)
|
(1)
|
316
|
—
|
(521)
|
—
|
Private equity investments
|
240
|
1
|
(239)
|
(1)
|
268
|
1
|
(281)
|
(1)
|
Other1
|
126
|
—
|
(124)
|
—
|
71
|
—
|
(82)
|
—
|
Total
|
1,095
|
2
|
(1,521)
|
(2)
|
1,075
|
1
|
(1,327)
|
(1)
|
1
|
Other includes commercial real estate loans, funds and fund-linked
products, asset backed loans, asset backed securities, equity cash
products, issued debt, commercial paper, Government and government
sponsored debt and investment property.
|
|
As at 30.06.23
|
As at 31.12.22
|
|
£m
|
£m
|
Exit price adjustments derived from market bid-offer
spreads
|
(554)
|
(577)
|
Uncollateralised derivative funding
|
(24)
|
(11)
|
Derivative credit valuation adjustments
|
(241)
|
(319)
|
Derivative debit valuation adjustments
|
196
|
208
|
●
|
Exit price adjustments derived from market bid-offer spreads
decreased by £23m to £554m
|
●
|
Uncollateralised derivative funding increased by £13m to
£24m
|
●
|
Derivative credit valuation adjustments decreased by £78m to
£241m as a result of tightening input counterparty credit
spreads
|
●
|
Derivative debit valuation adjustments decreased by £12m to
£196m
|
|
As at 30.06.23
|
As at 31.12.22
|
||
|
Carrying
amount
|
Fair
value
|
Carrying
amount
|
Fair
value
|
Financial assets
|
£m
|
£m
|
£m
|
£m
|
Debt securities at amortised cost
|
53,147
|
51,615
|
45,487
|
44,815
|
Loans and advances at amortised cost
|
348,258
|
341,484
|
353,292
|
346,846
|
Reverse repurchase agreements and other similar secured
lending
|
2,600
|
2,600
|
776
|
776
|
|
|
|
|
|
Financial liabilities
|
|
|
|
|
Deposits at amortised cost
|
(554,666)
|
(554,536)
|
(545,782)
|
(545,738)
|
Repurchase agreements and other similar secured
borrowing
|
(41,213)
|
(41,211)
|
(27,052)
|
(27,054)
|
Debt securities in issue
|
(105,018)
|
(105,546)
|
(112,881)
|
(113,276)
|
Subordinated liabilities
|
(11,019)
|
(11,001)
|
(11,423)
|
(11,474)
|
|
Half year
ended
30.06.23
|
Year ended
31.12.22
|
|
£m
|
£m
|
Opening balance as at 1 January
|
11,423
|
12,759
|
Issuances
|
1,317
|
1,477
|
Redemptions
|
(1,362)
|
(2,679)
|
Other
|
(359)
|
(134)
|
Closing balance
|
11,019
|
11,423
|
|
As at 30.06.23
|
As at 31.12.22
|
|
£m
|
£m
|
Customer
redress
|
349
|
378
|
Legal,
competition and regulatory matters
|
105
|
159
|
Redundancy
and restructuring
|
121
|
136
|
Undrawn
contractually committed facilities and guarantees
|
549
|
583
|
Sundry
provisions
|
300
|
288
|
Total
|
1,424
|
1,544
|
|
As at 30.06.23
|
As at 31.12.22
|
|
£m
|
£m
|
Currency translation reserve
|
3,599
|
4,772
|
Fair value through other comprehensive income reserve
|
(1,485)
|
(1,560)
|
Cash flow hedging reserve
|
(7,990)
|
(7,235)
|
Own credit reserve
|
(27)
|
467
|
Other reserves and treasury shares
|
1,446
|
1,364
|
Total
|
(4,457)
|
(2,192)
|
|
As at 30.06.23
|
As at 31.12.22
|
Contingent liabilities and financial guarantees
|
£m
|
£m
|
Guarantees and letters of credit pledged as collateral
security
|
18,720
|
17,760
|
Performance guarantees, acceptances and endorsements
|
6,777
|
6,445
|
Total
|
25,497
|
24,205
|
|
|
|
Commitments
|
|
|
Documentary credits and other short-term trade related
transactions
|
1,356
|
1,748
|
Standby facilities, credit lines and other commitments
|
380,197
|
393,760
|
Total
|
381,553
|
395,508
|
●
|
Synthetic JPY LIBOR tenors ceased permanently at the end of 2022 in
line with an announcement made by the FCA on 29 September
2022.
|
●
|
1- and 6-month synthetic GBP LIBOR tenors ceased permanently after
31 March 2023 in line with the announcement made by the FCA on 29
September 2022.
|
●
|
3-month synthetic GBP LIBOR remains available until 31 March 2024
as per an announcement made by the FCA on 23 November
2022.
|
Measure
|
Definition
|
Loan: deposit ratio
|
Total
loans and advances at amortised cost divided by total deposits at
amortised cost. The components of the calculation have been
included on the page 51.
|
Period end allocated tangible equity
|
Allocated
tangible equity is calculated as 13.5% (2022: 13.5%) of RWAs for each business, adjusted
for capital deductions, excluding goodwill and intangible assets,
reflecting the assumptions the Group uses for capital planning
purposes. Head Office allocated tangible equity represents the
difference between the Group’s tangible shareholders’
equity and the amounts allocated to businesses.
|
Average tangible shareholders’ equity
|
Calculated as the average of the previous month’s period end
tangible equity and the current month’s period end tangible
equity. The average tangible shareholders’ equity for the
period is the average of the monthly averages within that
period.
|
Average allocated tangible equity
|
Calculated as the average of the previous month’s period end
allocated tangible equity and the current month’s period end
allocated tangible equity. The average allocated tangible equity
for the period is the average of the monthly averages within that
period.
|
Return on average tangible shareholders’ equity
|
Annualised
profit after tax attributable to ordinary equity holders of the
parent, as a proportion of average shareholders’ equity
excluding non-controlling interests and other equity instruments
adjusted for the deduction of intangible assets and goodwill. The
components of the calculation have been included on pages
90 to 92.
|
Return on average allocated tangible equity
|
Annualised
profit after tax attributable to ordinary equity holders of the
parent, as a proportion of average allocated tangible equity. The
components of the calculation have been included on pages
90 to 93.
|
Operating expenses excluding litigation and conduct
|
A measure of total operating expenses excluding litigation and
conduct charges.
|
Operating costs
|
A measure of total operating expenses excluding litigation and
conduct charges and UK bank levy.
|
Cost: income ratio
|
Total operating expenses divided by total income.
|
Loan loss rate
|
Quoted
in basis points and represents total impairment charges divided by
total gross loans and advances held at amortised cost at the
balance sheet date. The components of the calculation have been
included on page 26.
|
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
24.
|
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
94.
|
Performance measures excluding the impact of the Over-issuance of
Securities
|
Calculated
by excluding the impact of the Over-issuance of Securities from
performance measures. The components of the calculations have been
included on page 94.
|
Profit before impairment
|
Calculated by excluding credit impairment charges or releases from
profit before tax.
|
|
Profit/(loss)
attributable to
ordinary equity holders
of the parent
|
|
Average
tangible
equity
|
|
Return on
average
tangible
equity
|
Half year ended 30.06.23
|
£m
|
|
£bn
|
|
%
|
Barclays UK
|
1,049
|
|
10.3
|
|
20.4
|
Corporate and Investment Bank
|
2,007
|
|
31.8
|
|
12.6
|
Consumer, Cards and Payments
|
294
|
|
5.3
|
|
11.1
|
Barclays International
|
2,301
|
|
37.1
|
|
12.4
|
Head Office
|
(239)
|
|
(0.2)
|
|
n/m
|
Barclays Group
|
3,111
|
|
47.2
|
|
13.2
|
|
|
|
|
|
|
Half year ended 30.06.22
|
|
|
|
|
|
Barclays UK
|
854
|
|
10.0
|
|
17.0
|
Corporate and Investment Bank
|
1,895
|
|
31.8
|
|
11.9
|
Consumer, Cards and Payments
|
188
|
|
4.4
|
|
8.5
|
Barclays International
|
2,083
|
|
36.2
|
|
11.5
|
Head Office
|
(462)
|
|
2.7
|
|
n/m
|
Barclays Group
|
2,475
|
|
48.9
|
|
10.1
|
|
Half year ended 30.06.23
|
|||||
|
Barclays UK
|
Corporate and
Investment
Bank
|
Consumer,
Cards and Payments
|
Barclays
International
|
Head Office
|
Barclays
Group
|
Return on average tangible shareholders' equity
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Attributable profit/(loss)
|
1,049
|
2,007
|
294
|
2,301
|
(239)
|
3,111
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Average shareholders' equity
|
14.0
|
31.8
|
6.2
|
38.0
|
3.6
|
55.6
|
Average goodwill and intangibles
|
(3.7)
|
—
|
(0.9)
|
(0.9)
|
(3.8)
|
(8.4)
|
Average tangible shareholders' equity
|
10.3
|
31.8
|
5.3
|
37.1
|
(0.2)
|
47.2
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
20.4%
|
12.6%
|
11.1%
|
12.4%
|
n/m
|
13.2%
|
|
Half year ended 30.06.22
|
|||||
|
Barclays UK
|
Corporate and
Investment
Bank
|
Consumer,
Cards and Payments
|
Barclays
International
|
Head Office
|
Barclays
Group
|
Return on average tangible shareholders' equity
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Attributable profit/(loss)
|
854
|
1,895
|
188
|
2,083
|
(462)
|
2,475
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Average shareholders' equity
|
13.6
|
31.8
|
5.3
|
37.1
|
6.3
|
57.0
|
Average goodwill and intangibles
|
(3.6)
|
—
|
(0.9)
|
(0.9)
|
(3.6)
|
(8.1)
|
Average tangible shareholders' equity
|
10.0
|
31.8
|
4.4
|
36.2
|
2.7
|
48.9
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
17.0%
|
11.9%
|
8.5%
|
11.5%
|
n/m
|
10.1%
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q4211
|
Q3211
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
|
Attributable profit
|
1,328
|
1,783
|
|
1,036
|
1,512
|
1,071
|
1,404
|
|
1,079
|
1,374
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Average shareholders' equity
|
55.4
|
55.9
|
|
54.9
|
56.8
|
57.1
|
56.9
|
|
56.1
|
56.5
|
Average goodwill and intangibles
|
(8.7)
|
(8.3)
|
|
(8.2)
|
(8.2)
|
(8.1)
|
(8.1)
|
|
(8.1)
|
(8.2)
|
Average tangible shareholders' equity
|
46.7
|
47.6
|
|
46.7
|
48.6
|
49.0
|
48.8
|
|
48.0
|
48.3
|
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
11.4%
|
15.0%
|
|
8.9%
|
12.5%
|
8.7%
|
11.5%
|
|
9.0%
|
11.4%
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q421
|
Q321
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
|
Attributable profit
|
534
|
515
|
|
474
|
549
|
458
|
396
|
|
420
|
317
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Average allocated equity
|
14.2
|
13.9
|
|
13.7
|
13.5
|
13.6
|
13.7
|
|
13.6
|
13.6
|
Average goodwill and intangibles
|
(4.0)
|
(3.6)
|
|
(3.5)
|
(3.6)
|
(3.6)
|
(3.6)
|
|
(3.6)
|
(3.6)
|
Average allocated tangible equity
|
10.2
|
10.3
|
|
10.2
|
9.9
|
10.0
|
10.1
|
|
10.0
|
10.0
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
20.9%
|
20.0%
|
|
18.7%
|
22.1%
|
18.4%
|
15.6%
|
|
16.8%
|
12.7%
|
1
|
The comparative capital and financial metrics relating to Q321 and
Q421 have been restated to reflect the impact of the Over-issuance
of Securities.
|
Barclays International
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q4211
|
Q3211
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
|
Attributable profit
|
953
|
1,348
|
|
625
|
1,136
|
783
|
1,300
|
|
818
|
1,191
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Average allocated equity
|
38.0
|
38.1
|
|
39.9
|
40.1
|
38.2
|
36.0
|
|
33.8
|
32.7
|
Average goodwill and intangibles
|
(0.9)
|
(1.0)
|
|
(1.0)
|
(1.0)
|
(0.9)
|
(0.9)
|
|
(0.9)
|
(0.9)
|
Average allocated tangible equity
|
37.1
|
37.1
|
|
38.9
|
39.1
|
37.3
|
35.1
|
|
32.9
|
31.8
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
10.3%
|
14.5%
|
|
6.4%
|
11.6%
|
8.4%
|
14.8%
|
|
9.9%
|
14.9%
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q4211
|
Q3211
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
|
Attributable profit
|
798
|
1,209
|
|
454
|
1,015
|
579
|
1,316
|
|
695
|
1,085
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Average allocated equity
|
31.8
|
31.8
|
|
33.7
|
34.0
|
32.7
|
30.8
|
|
28.7
|
27.8
|
Average goodwill and intangibles
|
—
|
—
|
|
—
|
—
|
—
|
—
|
|
—
|
—
|
Average allocated tangible equity
|
31.8
|
31.8
|
|
33.7
|
34.0
|
32.7
|
30.8
|
|
28.7
|
27.8
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
10.0%
|
15.2%
|
|
5.4%
|
11.9%
|
7.1%
|
17.1%
|
|
9.7%
|
15.6%
|
Consumer, Cards and Payments
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q421
|
Q321
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
|
Attributable profit/(loss)
|
155
|
139
|
|
171
|
121
|
204
|
(16)
|
|
123
|
106
|
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Average allocated equity
|
6.2
|
6.3
|
|
6.2
|
6.1
|
5.5
|
5.2
|
|
5.1
|
4.9
|
Average goodwill and intangibles
|
(0.9)
|
(1.0)
|
|
(1.0)
|
(1.0)
|
(0.9)
|
(0.9)
|
|
(0.9)
|
(0.9)
|
Average allocated tangible equity
|
5.3
|
5.3
|
|
5.2
|
5.1
|
4.6
|
4.3
|
|
4.2
|
4.0
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
11.8%
|
10.5%
|
|
13.0%
|
9.5%
|
17.8%
|
(1.5)%
|
|
11.7%
|
10.5%
|
1
|
The comparative capital and financial metrics relating to Q321 and
Q421 have been restated to reflect the impact of the Over-issuance
of Securities.
|
Tangible net asset value per share
|
As at 30.06.23
|
As at 31.12.22
|
As at 30.06.22
|
|
£m
|
£m
|
£m
|
Total equity excluding non-controlling interests
|
67,669
|
68,292
|
69,627
|
Other equity instruments
|
(13,759)
|
(13,284)
|
(12,357)
|
Goodwill and intangibles
|
(8,607)
|
(8,239)
|
(8,245)
|
Tangible shareholders' equity attributable to ordinary shareholders
of the parent
|
45,303
|
46,769
|
49,025
|
|
|
|
|
|
m
|
m
|
m
|
Shares in issue
|
15,556
|
15,871
|
16,531
|
|
|
|
|
|
p
|
p
|
p
|
Tangible net asset value per share
|
291
|
295
|
297
|
Performance measures excluding the impact of the Over-issuance of
Securities
|
|
|||||||||
Barclays Group
|
Q223
|
Q123
|
|
Q422
|
Q322
|
Q222
|
Q122
|
|
Q4211
|
Q3211
|
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Statutory attributable profit
|
1,328
|
1,783
|
|
1,036
|
1,512
|
1,071
|
1,404
|
|
1,079
|
1,374
|
Net impact of the Over-issuance of Securities
|
—
|
—
|
|
—
|
29
|
(341)
|
(240)
|
|
(38)
|
(72)
|
Attributable profit excluding the impact of the Over-issuance of
Securities
|
1,328
|
1,783
|
|
1,036
|
1,483
|
1,412
|
1,644
|
|
1,117
|
1,446
|
|
|
|
|
|
|
|
|
|
|
|
Average tangible shareholders' equity (£bn)
|
46.7
|
47.6
|
|
46.7
|
48.6
|
49.0
|
48.8
|
|
48.0
|
48.3
|
Return on average tangible shareholders' equity excluding the
impact of the Over-issuance of Securities
|
11.4%
|
15.0%
|
|
8.9%
|
12.2%
|
11.5%
|
13.5%
|
|
9.3%
|
12.0%
|
1
|
The comparative capital and financial metrics relating to Q321 and
Q421 have been restated to reflect the impact of the Over-issuance
of Securities.
|
Notable Items
|
|
|
|
|
Half year ended 30.06.23
|
Half year ended 30.06.22
|
|||
£m
|
Profit before tax
|
Attributable profit
|
Profit before tax
|
Attributable profit
|
Statutory
|
4,562
|
3,111
|
3,733
|
2,475
|
Net impact from the Over-issuance of Securities
|
—
|
—
|
(711)
|
(581)
|
Customer remediation costs on legacy loan portfolio
|
—
|
—
|
(181)
|
(147)
|
Settlements in principle in respect of industry-wide
devices investigations by SEC and CFTC
|
—
|
—
|
(165)
|
(165)
|
Other litigation and conduct
|
(32)
|
(21)
|
(42)
|
(37)
|
Re-measurement of UK DTAs
|
—
|
—
|
—
|
(346)
|
Excluding the impact of notable items
|
4,594
|
3,132
|
4,832
|
3,751
|
|
|
|
|
|
|
Three months ended 30.06.23
|
Three months ended 30.06.22
|
||
£m
|
Profit before tax
|
Attributable profit
|
Profit before tax
|
Attributable profit
|
Statutory
|
1,964
|
1,328
|
1,499
|
1,071
|
Net impact from the Over-issuance of Securities
|
—
|
—
|
(391)
|
(341)
|
Settlements in principle in respect of industry-wide
devices investigations by SEC and CFTC
|
—
|
—
|
(165)
|
(165)
|
Other litigation and conduct
|
(33)
|
(24)
|
(20)
|
(18)
|
Excluding the impact of notable items
|
1,997
|
1,352
|
2,075
|
1,595
|
|
|
|
|
|
|
|
Results timetable1
|
|
|
Date
|
|
|
|
Ex-dividend date
|
|
|
10 August 2023
|
|||
Dividend record date
|
|
|
11 August 2023
|
|||
Cut off time of 5:00pm (UK time) for the receipt of Dividend
Re-investment Programme (DRIP) Application Form
Mandate
|
|
25 August 2023
|
||||
Dividend payment date
|
|
|
15 September 2023
|
|||
Q3 2023 Results Announcement
|
|
|
24 October 2023
|
|||
|
|
|
|
|
|
|
For qualifying US and Canadian resident ADR holders, the half year
dividend of 2.7p per ordinary share becomes 10.8p per ADS
(representing four shares). The ex-dividend, dividend record and
dividend payment dates for ADR holders are as shown
above.
DRIP participants will usually receive their additional ordinary
shares (in lieu of a cash dividend) three to four days after the
dividend payment date.
|
||||||
Barclays PLC ordinary shares ISIN code: GB0031348658
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% Change3
|
|
Exchange rates2
|
30.06.23
|
31.12.22
|
30.06.22
|
|
31.12.22
|
30.06.22
|
Period end - USD/GBP
|
1.27
|
1.21
|
1.22
|
|
5%
|
4%
|
6 month average - USD/GBP
|
1.23
|
1.18
|
1.30
|
|
4%
|
(5)%
|
3 month average - USD/GBP
|
1.25
|
1.17
|
1.26
|
|
7%
|
(1)%
|
Period end - EUR/GBP
|
1.16
|
1.13
|
1.16
|
|
3%
|
—
|
6 month average - EUR/GBP
|
1.14
|
1.16
|
1.19
|
|
(2)%
|
(4)%
|
3 month average - EUR/GBP
|
1.15
|
1.15
|
1.18
|
|
—
|
(3)%
|
|
|
|
|
|
|
|
Share price data
|
|
|
|
|
|
|
Barclays PLC (p)
|
153.38
|
158.52
|
153.12
|
|
|
|
Barclays PLC number of shares (m)
|
15,556
|
15,871
|
16,531
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For further information please contact
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investor relations
|
Media relations
|
|||||
Adam Strachan +1 212 526 8442
|
Tom Hoskin +44 (0) 20 7116 4755
|
|||||
James Johnson +44 (0) 20 7116 7233
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
More information on Barclays can be found on our website:
home.barclays
|
|
|
|
|
||
|
|
|
|
|
|
|
Registered office
|
|
|
|
|
|
|
1 Churchill Place, London, E14 5HP, United Kingdom. Tel: +44 (0) 20
7116 1000. Company number: 48839.
|
|
|||||
|
|
|
|
|
|
|
Registrar
|
|
|
|
|
|
|
Equiniti, Aspect House, Spencer Road, Lancing, West Sussex, BN99
6DA, United Kingdom.
|
|
|||||
Tel:
0371 384 20554 from the UK or +44
121 415 7004 from overseas.
|
|
|||||
|
|
|
|
|
|
|
American Depositary Receipts (ADRs)
|
|
|
|
|
|
|
EQ Shareowner Services
|
||||||
P.O. Box 64504
|
||||||
St. Paul, MN 55164-0504
|
||||||
United States of America
|
||||||
shareowneronline.com
|
|
|
|
|
|
|
Toll Free Number: +1 800-990-1135
|
|
|
|
|
|
|
Outside the US +1 651-453-2128
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delivery of ADR certificates and overnight mail
|
|
|
|
|
|
|
EQ Shareowner Services, 1110 Centre Pointe Curve, Suite 101,
Mendota Heights, MN 55120-4100, USA.
|
1
|
Note that these dates are provisional and subject to
change.
|
2
|
The average rates shown above are derived from daily spot rates
during the year.
|
3
|
The change is the impact to GBP reported information.
|
4
|
Lines open 8.30am to 5.30pm (UK time), Monday to Friday, excluding
UK public holidays in England and Wales.
|