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6-K 1 barclays-6k_022024.htm REPORT OF FOREIGN PRIVATE ISSUER

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934

For the month of February, 2024

Commission File Number: 001-09246

Barclays PLC

(Name of Registrant)

1 Churchill Place
London E14 5HP
England
(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

The Report comprises the following:

Exhibit No.	Description

Exhibit 99.1	Announcement of Barclays PLC with respect to new operating divisions and management

Exhibit 99.2	Barclays PLC Group Reporting Changes 2023 Results Resegmentation Document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	BARCLAYS PLC (Registrant)

Date: February 20, 2024	By:	/s/ Garth Wright
		Name: Garth Wright
		Title: Assistant Secretary

EX-99.1 2 ex99-1.htm ANNOUNCEMENT OF BARCLAYS PLC

BARCLAYS PLC 6-K

Exhibit 99.1

20 February 2024

Barclays PLC (“Barclays”)

New operating divisions and management

Barclays has today announced that it will be managed and reported via five focused operating divisions:

Barclays UK;

Barclays UK Corporate Bank;

Barclays Private Bank and Wealth Management;

Barclays Investment Bank; and

Barclays US Consumer Bank.

Barclays segmental reporting will reflect these five operating divisions, in addition to Head Office, from the first quarter of 2024.

Barclays has also today published a resegmentation document which provides details of the impact on the Group's financial reporting as a result of such resegmentation, and re-presents segmental results for 2023 (full year and quarterly), 2022 (full year and quarterly), and 2021.

These changes do not affect legal entities nor do they impact the Group’s consolidated financials.

The resegmentation document may be accessed via the Barclays website at https://home.barclays/investor-relations/reports-and-events/financial-results/.

The operating divisions will be led as follows (subject to regulatory approval in respect of new appointments, as appropriate):

Vim Maru appointed CEO of Barclays UK;

Matt Hammerstein appointed CEO of Barclays UK Corporate Bank. In addition to his leadership of UK Corporate Bank, Matt Hammerstein will replace Sasha Wiggins as the head of Public Policy and Corporate Responsibility;

Sasha Wiggins appointed CEO of Barclays Private Bank & Wealth Management; and

Denny Nealon will continue in his current role as CEO of Barclays US Consumer Bank and Barclays Bank Delaware.

The Investment Bank operating division will be co-led as follows (also subject to regulatory approval in respect of new appointments, as appropriate):

Adeel Khan appointed sole head of Global Markets;

Cathal Deasy and Taylor Wright will continue in their current roles as Co-Heads of Banking; and

Stephen Dainton appointed President of Barclays Bank PLC and Head of Investment Bank Management.

Each of the divisional and business heads above will be members of Barclays Group Executive Committee, and will report to the Group Chief Executive, C.S. Venkatakrishnan. Details of the full composition of this Committee can be found at https://home.barclays/who-we-are/structure-and-leadership/leadership

Paul Compton will step back from his role as the Global Head of the CIB and President of Barclays Bank PLC and become the Chairman of Investment Banking, also reporting to the Group Chief Executive in this capacity.

Notes

In addition to his reporting line to the Group Chief Executive, C.S. Venkatakrishnan, Denny Nealon will continue to report Richard Haworth, CEO Americas.

- ENDS -

For further information, please contact:

Investor Relations		Media Relations

Marina Shchukina		Jonathan Tracey
+44 (0) 20 7116 2526		+44 (0) 20 7116 4755

About Barclays

Barclays is a British universal bank. We are diversified by business, by different types of customer and client, and geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group.

For further information about Barclays, please visit our website home.barclays

EX-99.2 3 ex99-2.htm BARCLAYS PLC GROUP REPORTING CHANGES 2023 RESULTS RESEGMENTATION DOCUMENT

BARCLAYS PLC 6-K

Exhibit 99.2

Barclays PLC

Group Reporting Changes

2023 Results Resegmentation Document

Table of Contents

Resegmentation Document	Page

Notes	1

Overview of Reporting Changes	2

Performance Highlights	3

Results by Business

● Barclays UK	7

● Barclays UK Corporate Bank	9

● Barclays Private Bank and Wealth Management	10

● Barclays Investment Bank	11

● Barclays US Consumer Bank	13

● Head Office	14

Quarterly Results Summary	15

Quarterly Results by Business	16

Resegmentation Bridges	23

Appendix: Non-IFRS Performance Measures	38

BARCLAYS PLC, 1 CHURCHILL PLACE, LONDON, E14 5HP, UNITED KINGDOM. TELEPHONE: +44 (0) 20 7116 1000. COMPANY NO. 48839.


Barclays PLC

Notes

The terms Barclays and Group refer to Barclays PLC together with subsidiaries.

There are a number of key judgement areas, for example impairment calculations, which are based on models and which are subject to ongoing adjustment and modifications. Reported numbers reflect best estimates and judgements at the given point in time.

Relevant terms that are used in this document but are not defined under applicable regulatory guidance or International Financial Reporting Standards (IFRS) are explained in the results glossary, which can be accessed at home.barclays/investor-relations.

The information in this document, which was approved by the Board of Directors on 19 February 2024, does not comprise statutory accounts within the meaning of Section 434 of the Companies Act 2006. Statutory accounts for the year ended 31 December 2023, which contain an unmodified audit report under Section 495 of the Companies Act 2006 (which does not make any statements under Section 498 of the Companies Act 2006) will be delivered to the Registrar of Companies in accordance with Section 441 of the Companies Act 2006. This document has not been audited.

This document will be furnished on Form 6-K to the US Securities and Exchange Commission (SEC) as soon as practicable following its publication. Once furnished to the SEC, a copy of the Form 6-K will be available from the SEC’s website at www.sec.gov.

Barclays is a frequent issuer in the debt capital markets and regularly meets with investors via formal roadshows and other ad hoc meetings. Consistent with its usual practice, Barclays expects that from time to time over the coming quarter it will meet with investors globally to discuss these results and other matters relating to the Group.

Non-IFRS performance measures

Barclays’ management believes that the non-IFRS performance measures included in this document provide valuable information to the readers of the financial statements as they enable the reader to identify a more consistent basis for comparing the businesses’ performance between financial periods and provide more detail concerning the elements of performance which the managers of these businesses are most directly able to influence or are relevant for an assessment of the Group. They also reflect an important aspect of the way in which operating targets are defined and performance is monitored by Barclays’ management. However, any non-IFRS performance measures in this document are not a substitute for IFRS measures and readers should consider the IFRS measures as well. Refer to the appendix on pages 38 to 43 for definitions and calculations of non-IFRS performance measures included throughout this document, and reconciliations to the most directly comparable IFRS measures.

Forward-looking statements

This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and Section 27A of the US Securities Act of 1933, as amended, with respect to the Group. Barclays cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as ‘may’, ‘will’, ‘seek’, ‘continue’, ‘aim’, ‘anticipate’, ‘target’, ‘projected’, ‘expect’, ‘estimate’, ‘intend’, ‘plan’, ‘goal’, ‘believe’, ‘achieve’ or other words of similar meaning. Forward-looking statements can be made in writing but also may be made verbally by directors, officers and employees of the Group (including during management presentations) in connection with this document. Examples of forward-looking statements include, among others, statements or guidance regarding or relating to the Group’s future financial position, business strategy, income levels, costs, assets and liabilities, impairment charges, provisions, capital, leverage and other regulatory ratios, capital distributions (including policy on dividends and share buybacks), return on tangible equity, projected levels of growth in banking and financial markets, industry trends, any commitments and targets (including environmental, social and governance (ESG) commitments and targets), plans and objectives for future operations and other statements that are not historical or current facts. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Forward-looking statements speak only as at the date on which they are made. Forward-looking statements may be affected by a number of factors, including, without limitation: changes in legislation, regulations, governmental and regulatory policies, expectations and actions, voluntary codes of practices and the interpretation thereof, changes in IFRS and other accounting standards, including practices with regard to the interpretation and application thereof and emerging and developing ESG reporting standards; the outcome of current and future legal proceedings and regulatory investigations; the Group’s ability along with governments and other stakeholders to measure, manage and mitigate the impacts of climate change effectively; environmental, social and geopolitical risks and incidents, pandemics and similar events beyond the Group’s control; the impact of competition in the banking and financial services industry; capital, liquidity, leverage and other regulatory rules and requirements applicable to past, current and future periods; UK, US, Eurozone and global macroeconomic and business conditions, including inflation; volatility in credit and capital markets; market related risks such as changes in interest rates and foreign exchange rates; reforms to benchmark interest rates and indices; higher or lower asset valuations; changes in credit ratings of any entity within the Group or any securities issued by it; changes in counterparty risk; changes in consumer behaviour; the direct and indirect consequences of the conflicts in Ukraine and the Middle East on European and global macroeconomic conditions, political stability and financial markets; political elections; developments in the UK’s relationship with the European Union (EU), the risk of cyberattacks, information or security breaches, technology failures or operational disruptions and any subsequent impacts on the Group’s reputation, business or operations; the Group’s ability to access funding; and the success of acquisitions, disposals and other strategic transactions. A number of these factors are beyond the Group’s control. As a result, the Group’s actual financial position, results, financial and non-financial metrics or performance measures or its ability to meet commitments and targets may differ materially from the statements or guidance set forth in the Group’s forward-looking statements. In setting its targets and outlook for the period 2024-2026, Barclays has made certain assumptions about the macroeconomic environment, including, without limitation, inflation, interest and unemployment rates, the different markets and competitive conditions in which Barclays operates, and its ability to grow certain businesses and achieve costs savings and other structural actions. Additional risks and factors which may impact the Group’s future financial condition and performance are identified in Barclays PLC’s filings with the SEC (including, without limitation, Barclays PLC’s Annual Report on Form 20-F for the financial year ended 31 December 2023), which are available on the SEC’s website at www.sec.gov.

Subject to Barclays PLC’s obligations under the applicable laws and regulations of any relevant jurisdiction (including, without limitation, the UK and the US) in relation to disclosure and ongoing information, we undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Overview of Reporting Changes

At FY23 Results Barclays reporting segments comprise Barclays UK and Barclays International, and within Barclays International, Corporate and Investment Bank (CIB) and Consumer, Cards and Payments (CC&P). As part of the 20 February 2024 Investor Update Barclays has announced changes to its operating divisions which impacts segmental reporting going forward.

This document provides details of the impact on the Group’s financial reporting as a result of such resegmentation, and re-presents segmental results for 2023 (full year and quarterly), 2022 (full year and quarterly), and 2021. These changes do not affect legal entities nor do they impact the Group’s consolidated financials.

Resegmentation under New Operating Divisions

●

Barclays UK is unaffected by the resegmentation and the financials remain aligned to those previously reported

●

The Barclays International segment, and within it CIB and CC&P, has been restructured to provide greater visibility, and to transfer certain businesses to Head Office

●

Head Office now incorporates certain businesses transferred from CC&P

●

From Q124, in addition to Head Office, the Group will present its financial disclosures through the following segments:

–

Barclays UK

–

Barclays UK Corporate Bank

–

Barclays Private Bank and Wealth Management

–

Barclays Investment Bank

–

Barclays US Consumer Bank

Barclays UK

This segment broadly represents businesses that sit within the UK ring-fenced bank entity, Barclays Bank UK PLC, and continues to comprise Personal Banking, Business Banking and Barclaycard Consumer UK. Note that the UK Wealth Management and Investments (WM&I) portfolio was transferred to CC&P in May 2023 and going forward the business will be reported within the new Barclays Private Bank and Wealth Management segment. Barclays UK’s financial results prior to May 2023 include the WM&I portfolio and have not been restated to reflect this transfer.

Barclays UK Corporate Bank

This division includes a large part of the Corporate Lending and Transaction Banking businesses previously reported within CIB, and the Payments issuing business previously reported within CC&P. It brings together lending, trade and working capital, liquidity, payments and FX solutions for corporate clients with turnover from £6.5m and higher, excluding those clients that form part of the FTSE 350, which are included within the Investment Bank. Barclays UK Corporate Bank clients will have access to Investment Bank solutions, but they are less likely to be regular users of these services.

Barclays Private Bank and Wealth Management

Previously reported within CC&P, this segment comprises the Private Bank business in addition to the Wealth Management & Investments portfolio transferred from Barclays UK in May 2023, providing holistic wealth and private banking solutions. The business has been structured to service clients from across the UK wealth spectrum and grow the Private Bank franchise in selected international markets.

Barclays Investment Bank

This segment incorporates the Global Markets, Investment Banking and International Corporate Banking businesses, serving FTSE 350, multinationals and financial institution clients that are regular users of Investment Bank services. These businesses were previously reported within the CIB.

Barclays US Consumer Bank

Previously reported within CC&P, the segment represents the US credit card business, particularly focused in the partnership market as well as an online deposit franchise. The business has grown significantly over recent years and is now a leading partnership card issuer in the US by receivables1.

Head Office

In addition to its existing elements, Head Office now includes the German consumer finance business, which is currently accounted for as held for sale, and the merchant acquiring component of the Payments business.

	1	Based on Q323 end net receivables reported by peers. Source: Gate One Consultancy Group at Q323.

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Performance Highlights

2023 Barclays re-presented Group results
	Barclays UK		Barclays UK Corporate Bank		Barclays Private Bank and Wealth Management		Barclays Investment Bank		Barclays US Consumer Bank		Head Office		Barclays Group
Income statement information	£m		£m		£m		£m		£m		£m		£m
Net interest income	6,431		1,160		768		1,393		2,604		353		12,709
Net fee, commission, trading and other income	1,156		610		440		9,642		664		157		12,669
Total income	7,587		1,770		1,208		11,035		3,268		510		25,378
Operating costs	(4,393	)	(905	)	(795	)	(7,619	)	(1,650	)	(1,352	)	(16,714	)
UK bank levy	(30	)	(8	)	(4	)	(123	)	—		(14	)	(180	)
Litigation and conduct	8		1		2		5		(6	)	(48	)	(37	)
Total operating expenses	(4,415	)	(912	)	(797	)	(7,737	)	(1,656	)	(1,414	)	(16,931	)
Other net expenses	—		(3	)	—		—		—		(6	)	(9	)
Profit/(loss) before impairment	3,172		855		411		3,298		1,612		(910	)	8,438
Credit impairment (charges)/releases	(304	)	27		(4	)	(102	)	(1,438	)	(60	)	(1,881	)
Profit/(loss) before tax	2,868		882		407		3,196		174		(970	)	6,557
Attributable profit/(loss)	1,962		584		330		2,041		131		(774	)	4,274

Performance measures
Return on average tangible equity	19.2	%	20.5	%	32.7	%	7.0	%	4.1	%	n/m		9.0	%
Average tangible equity (£bn)	10.2		2.9		1.0		29.0		3.2		1.1		47.4
Cost: income ratio	58	%	52	%	66	%	70	%	51	%	n/m		67	%
Loan loss rate (bps)	14		(10	)	3		9		514		n/m		46

Performance measures excluding Q423 structural cost actions
Q423 structural cost actions (£m)	(168	)	(27	)	(29	)	(169	)	(19	)	(515	)	(927	)
Return on average tangible equity	20.4	%	21.2	%	35.1	%	7.5	%	4.6	%	n/m		10.6	%
Cost: income ratio	56	%	50	%	64	%	69	%	50	%	n/m		63	%

Balance sheet and capital management	£bn		£bn		£bn		£bn		£bn		£bn		£bn
Risk weighted assets	73.5		20.9		7.2		197.3		24.8		19.0		342.7
Period end tangible equity	10.2		3.0		1.0		29.0		3.4		3.6		50.2

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Performance Highlights

2022 Barclays re-presented Group results
	Barclays UK		Barclays UK Corporate Bank		Barclays Private Bank and Wealth Management		Barclays Investment Bank		Barclays US Consumer Bank		Head Office		Barclays Group
Income statement information	£m		£m		£m		£m		£m		£m		£m
Net interest income	5,893		1,132		715		836		1,972		24			10,572
Net fee, commission, trading and other income	1,366		525		299		11,087		667		440			14,384
Total income	7,259		1,657		1,014		11,923		2,639		464			24,956
Operating costs	(4,260	)	(812	)	(545	)	(6,955	)	(1,525	)	(860	)		(14,957	)
UK bank levy	(26	)	(7	)	(4	)	(119	)	—		(20	)		(176	)
Litigation and conduct	(41	)	—		—		(1,189	)	(3	)	(364	)		(1,597	)
Total operating expenses	(4,327	)	(819	)	(549	)	(8,263	)	(1,528	)	(1,244	)		(16,730	)
Other net income	—		1		—		1		—		4			6
Profit/(loss) before impairment	2,932		839		465		3,661		1,111		(776	)		8,232
Credit impairment charges	(286	)	—		(5	)	(181	)	(624	)	(124	)		(1,220	)
Profit/(loss) before tax	2,646		839		460		3,480		487		(900	)		7,012
Attributable profit/(loss)	1,877		563		370		2,806		356		(949	)		5,023

Performance measures
Return on average tangible equity	18.7	%	19.2	%	36.3	%	9.3	%	12.7	%	n/m			10.4	%
Average tangible equity (£bn)	10.0		2.9		1.0		30.0		2.8		1.6			48.3
Cost: income ratio	60	%	49	%	54	%	69	%	58	%	n/m			67	%
Loan loss rate (bps)	13		—		4		18		237		n/m			30

Balance sheet and capital management	£bn		£bn		£bn		£bn		£bn		£bn		£bn
Risk weighted assets	73.1		21.1		7.8		195.9		23.9		14.7			336.5
Period end tangible equity	10.1		3.0		1.1		28.6		3.3		0.7			46.8

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Performance Highlights

2021 Barclays re-presented Group results
	Barclays UK		Barclays UK Corporate Bank		Barclays Private Bank and Wealth Management		Barclays Investment Bank		Barclays US Consumer Bank		Head Office		Barclays Group
Income statement information	£m		£m		£m		£m		£m		£m		£m
Net interest income	5,202		936		505		433		1,125		(129	)	8,073
Net fee, commission, trading and other income	1,334		405		276		10,714		694		445		13,867
Total income	6,536		1,341		781		11,147		1,819		316		21,940
Operating costs	(4,357	)	(778	)	(534	)	(6,171	)	(1,087	)	(1,165	)	(14,092	)
UK bank levy	(36	)	(9	)	(4	)	(120	)	—		(1	)	(170	)
Litigation and conduct	(37	)	—		1		(237	)	(4	)	(120	)	(397	)
Total operating expenses	(4,430	)	(787	)	(537	)	(6,528	)	(1,091	)	(1,286	)	(14,659	)
Other net (expenses)/income	—		(1	)	—		3		—		258		260
Profit/(loss) before impairment	2,106		553		244		4,622		728		(712	)	7,541
Credit impairment releases/(charges)	365		137		9		342		(211	)	11		653
Profit/(loss) before tax	2,471		690		253		4,964		517		(701	)	8,194
Attributable profit/(loss)	1,756		446		207		3,601		379		(184	)	6,205

Performance measures
Return on average tangible equity	17.6	%	13.9	%	22.5	%	14.3	%	17.2	%	n/m		13.1	%
Average tangible equity (£bn)	10.0		3.2		0.9		25.2		2.2		5.8		47.3
Cost: income ratio	68	%	59	%	69	%	59	%	60	%	n/m		67	%
Loan loss rate (bps)	(16	)	(50	)	(7	)	(46	)	116		n/m		(18	)

Balance sheet and capital management	£bn		£bn		£bn		£bn		£bn		£bn		£bn
Risk weighted assets	72.3		19.9		6.7		181.7		17.1		16.4		314.1
Period end tangible equity	10.0		2.8		0.9		26.4		2.3		6.3		48.7

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Performance Highlights

Barclays Group results	Year ended							% Change1
		31.12.23		31.12.22		31.12.21			31.12.22
Income statement information		£m		£m		£m
Barclays UK		7,587		7,259		6,536			5
Barclays UK Corporate Bank		1,770		1,657		1,341			7
Barclays Private Bank and Wealth Management		1,208		1,014		781			19
Barclays Investment Bank		11,035		11,923		11,147			(7	)
Barclays US Consumer Bank		3,268		2,639		1,819			24
Head Office		510		464		316			10
Total income		25,378		24,956		21,940			2
Operating costs		(16,714	)	(14,957	)	(14,092	)		(12	)
UK bank levy		(180	)	(176	)	(170	)		(2	)
Litigation and conduct		(37	)	(1,597	)	(397	)		98
Total operating expenses		(16,931	)	(16,730	)	(14,659	)		(1	)
Other net (expenses)/income		(9	)	6		260
Profit before impairment		8,438		8,232		7,541			3
Credit impairment (charges)/releases		(1,881	)	(1,220	)	653			(54	)
Profit before tax		6,557		7,012		8,194			(6	)
Tax charge		(1,234	)	(1,039	)	(1,138	)		(19	)
Profit after tax		5,323		5,973		7,056			(11	)
Non-controlling interests		(64	)	(45	)	(47	)		(42	)
Other equity instrument holders		(985	)	(905	)	(804	)		(9	)
Attributable profit		4,274		5,023		6,205			(15	)

Performance measures
Return on average tangible shareholders’ equity		9.0	%	10.4	%	13.1	%
Average tangible shareholders’ equity (£bn)		47.4		48.3		47.3
Cost: income ratio		67	%	67	%	67	%
Loan loss rate (bps)		46		30		(18	)
Basic earnings per share		27.7	p	30.8	p	36.5	p
Dividend per share		8.0	p	7.25	p	6.0	p
Share buyback announced (£m)		1,750		1,000		1,500
Total payout equivalent per share		c.19.4p		c.13.4p		15.0	p
Basic weighted average number of shares (m)		15,445		16,333		16,985
Period end number of shares (m)		15,155		15,871		16,752

Balance sheet information		£bn		£bn		£bn
Loans and advances at amortised cost		399.5		398.8		361.5
Loans and advances at amortised cost impairment coverage ratio		1.4	%	1.4	%	1.6	%
Total assets		1,477.5		1,513.7		1,384.3
Deposits at amortised cost		538.8		545.8		519.4
Tangible net asset value per share		331	p	295	p	291	p
Common equity tier 1 ratio		13.8	%	13.9	%	15.1	%
Common equity tier 1 capital		47.3		46.9		47.3
Risk weighted assets		342.7		336.5		314.1
UK leverage ratio		5.2	%	5.3	%	5.2	%
UK leverage exposure		1,168.3		1,130.0		1,137.9

Funding and Liquidity
Group liquidity pool (£bn)		298.1		318.0		291.0
Liquidity coverage ratio2		161	%	156	%	168	%
Net stable funding ratio3		138	%	137	%
Loan: deposit ratio		74	%	73	%	70	%

Movement between year ended 31 December 2023 and year ended 31 December 2022.

The liquidity coverage ratio (LCR) is now shown on an average basis, based on the average of the last 12 spot month end ratios. Prior period LCR comparatives have been updated for consistency.

Represents average of the last four spot quarter end positions.

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Results by Business

Barclays UK is unaffected by the resegmentation and financials are presented below for completeness only.

Barclays UK	Year ended							% Change1
		31.12.23		31.12.22		31.12.21			31.12.22
Income statement information		£m		£m		£m
Net interest income		6,431		5,893		5,202			9
Net fee, commission and other income		1,156		1,366		1,334			(15	)
Total income		7,587		7,259		6,536			5
Operating costs		(4,393	)	(4,260	)	(4,357	)		(3	)
UK bank levy		(30	)	(26	)	(36	)		(15	)
Litigation and conduct		8		(41	)	(37	)
Total operating expenses		(4,415	)	(4,327	)	(4,430	)		(2	)
Other net income		—		—		—
Profit before impairment		3,172		2,932		2,106			8
Credit impairment (charges)/releases		(304	)	(286	)	365			(6	)
Profit before tax		2,868		2,646		2,471			8
Attributable profit		1,962		1,877		1,756			5

Performance measures
Return on average allocated tangible equity		19.2	%	18.7	%	17.6	%
Average allocated tangible equity (£bn)		10.2		10.0		10.0
Cost: income ratio		58	%	60	%	68	%
Loan loss rate (bps)		14		13		(16	)
Net interest margin		3.13	%	2.86	%	2.52	%

Balance sheet information		£bn		£bn		£bn
Loans and advances to customers at amortised cost		202.8		205.1		208.8
Customer deposits at amortised cost		241.1		258.0		260.6
Loan: deposit ratio		92	%	87	%	85	%
Risk weighted assets		73.5		73.1		72.3
Period end allocated tangible equity		10.2		10.1		10.0

Movement between year ended 31 December 2023 and year ended 31 December 2022.

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Results by Business

Analysis of Barclays UK	Year ended							% Change1
		31.12.23		31.12.22		31.12.21			31.12.22
Analysis of total income		£m		£m		£m
Personal Banking		4,729		4,540		3,883			4
Barclaycard Consumer UK		964		1,093		1,250			(12	)
Business Banking		1,894		1,626		1,403			16
Total income		7,587		7,259		6,536			5

Analysis of credit impairment (charges)/releases
Personal Banking		(170	)	(167	)	28			(2	)
Barclaycard Consumer UK		(162	)	30		404
Business Banking		28		(149	)	(67	)
Total credit impairment (charges)/releases		(304	)	(286	)	365			(6	)

Analysis of loans and advances to customers at amortised cost		£bn		£bn		£bn
Personal Banking		170.1		169.7		165.4
Barclaycard Consumer UK		9.7		9.2		8.7
Business Banking		23.0		26.2		34.7
Total loans and advances to customers at amortised cost		202.8		205.1		208.8

Analysis of customer deposits at amortised cost
Personal Banking		185.4		195.6		196.4
Barclaycard Consumer UK		—		—		—
Business Banking		55.7		62.4		64.2
Total customer deposits at amortised cost		241.1		258.0		260.6

Barclays UK

●

Profit before tax increased 8% to £2,868m with a return on tangible equity (RoTE) of 19.2% (2022: 18.7%)

●

Total income increased 5% to £7,587m. Net interest income (NII) increased 9% to £6,431m with a net interest margin (NIM) of 3.13% (2022: 2.86%), as higher interest rates and associated structural hedge benefit outweighed mortgage margin pressure and adverse deposit dynamics reflecting wider market trends. Net fee, commission and other income decreased 15% to £1,156m including the impact of the transfer of WM&I to CC&P

●

Total operating expenses increased 2% to £4,415m, including £168m impact from Q423 structural cost actions. Excluding the impact of Q423 structural cost actions, operating expenses decreased 2%, driven by the transfer of WM&I to CC&P partially offset by the impact of inflation and the acquisition of Kensington Mortgage Company (KMC). Ongoing efficiency savings continue to be reinvested, including in our transformation programme to support sustainable improvement to the cost: income ratio over the longer term

●

Credit impairment charges increased to £304m (2022: £286m), consistent with low delinquencies in UK cards and a high quality mortgage lending portfolio. UK cards 30 and 90 day arrears remained low at 0.9% (Q422: 0.9%) and 0.2% (Q422: 0.2%) respectively. The UK cards total coverage ratio was 6.8% (December 2022: 7.6%)

●

Customer deposits at amortised cost decreased 7% to £241.1bn (December 2022: £258.0bn). Primarily driven by reduced current account balances in Personal and Business Banking, reflecting broader market trends. The loan: deposit ratio increased to 92% (December 2022: 87%)

●

Risk weighted assets (RWAs) increased to £73.5bn (December 2022: £73.1bn), primarily due to the acquisition of KMC, broadly offset by reduction across lending portfolios

Movement between year ended 31 December 2023 and year ended 31 December 2022.

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Results by Business

Barclays UK Corporate Bank	Year ended							% Change1
		31.12.23		31.12.22		31.12.21			31.12.22
Income statement information		£m		£m		£m
Net interest income		1,160		1,132		936			2
Net fee, commission, trading and other income		610		525		405			16
Total income		1,770		1,657		1,341			7
Operating costs		(905	)	(812	)	(778	)		(11	)
UK bank levy		(8	)	(7	)	(9	)		(14	)
Litigation and conduct		1		—		—
Total operating expenses		(912	)	(819	)	(787	)		(11	)
Other net (expenses)/income		(3	)	1		(1	)
Profit before impairment		855		839		553			2
Credit impairment releases		27		—		137
Profit before tax		882		839		690			5
Attributable profit		584		563		446			4

Performance measures
Return on average allocated tangible equity		20.5	%	19.2	%	13.9	%
Average allocated tangible equity (£bn)		2.9		2.9		3.2
Cost: income ratio		52	%	49	%	59	%
Loan loss rate (bps)		(10	)	—		(50	)

Balance sheet information		£bn		£bn		£bn
Loans and advances to customers at amortised cost		26.4		26.9		27.0
Deposits at amortised cost		84.9		84.4		85.0
Risk weighted assets		20.9		21.1		19.9
Period end allocated tangible equity		3.0		3.0		2.8


Analysis of total income		£m		£m		£m			% Change
Corporate lending		262		247		316			6
Transaction banking		1,508		1,410		1,025			7
Total income		1,770		1,657		1,341			7

Barclays UK Corporate Bank

●

Profit before tax increased 5% to £882m with a RoTE of 20.5% (2022: 19.2%). Excluding the impact of Q423 structural cost actions RoTE was 21.2%

●

Total income increased 7% to £1,770m, with NII increasing to £1,160m from improved margins. Net fee, commission, trading and other income increased 16% as a result of higher interest rate environment

●

Total operating expenses increased 11% to £912m, reflecting higher investment spend to support growth, £27m of Q423 structural cost actions and the impact of inflation partially offset by efficiency savings

●

Credit impairment releases were £27m (2022: £nil), driven by resilient underlying credit performance and the marginally improved year-on-year macroeconomic outlook

●

RWAs were broadly stable at £20.9bn (December 2022: £21.1bn)

Movement between year ended 31 December 2023 and year ended 31 December 2022.

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Results by Business

Barclays Private Bank and Wealth Management	Year ended							% Change1
		31.12.23		31.12.22		31.12.21			31.12.22
Income statement information		£m		£m		£m
Net interest income		768		715		505			7
Net fee, commission and other income		440		299		276			47
Total income		1,208		1,014		781			19
Operating costs		(795	)	(545	)	(534	)		(46	)
UK bank levy		(4	)	(4	)	(4	)
Litigation and conduct		2		—		1
Total operating expenses		(797	)	(549	)	(537	)		(45	)
Other net income		—		—		—
Profit before impairment		411		465		244			(12	)
Credit impairment (charges)/releases		(4	)	(5	)	9			20
Profit before tax		407		460		253			(12	)
Attributable profit		330		370		207			(11	)

Performance measures
Return on average allocated tangible equity		32.7	%	36.3	%	22.5	%
Average allocated tangible equity (£bn)		1.0		1.0		0.9
Cost: income ratio		66	%	54	%	69	%
Loan loss rate (bps)		3		4		(7	)

Balance sheet information		£bn		£bn		£bn
Loans and advances to customers at amortised cost		13.6		14.4		13.0
Deposits at amortised cost		60.3		62.3		54.1
Risk weighted assets		7.2		7.8		6.7
Period end allocated tangible equity		1.0		1.1		0.9

Barclays Private Bank and Wealth Management

●

Profit before tax decreased 12% to £407m with a RoTE of 32.7% (2022: 36.3%). Excluding the impact of Q423 structural cost actions, RoTE was 35.1%

●

Total income increased 19% to £1,208m, due to the transfer of WM&I from Barclays UK, client balance growth and improved deposit margins in the higher rate environment

●

Total operating expenses increased 45% to £797m, reflecting the transfer of WM&I from Barclays UK, £29m of Q423 structural cost actions, higher investment spend to support growth and the impact of inflation partially offset by efficiency savings

●

RWAs decreased to £7.2bn (December 2022: £7.8bn), reflecting reduction in lending balances as clients repaid balances in light of the higher interest rate environment

Movement between year ended 31 December 2023 and year ended 31 December 2022.

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Results by Business

Barclays Investment Bank	Year ended							% Change1
		31.12.23		31.12.22		31.12.21			31.12.22
Income statement information		£m		£m		£m
Net interest income		1,393		836		433			67
Net trading income		6,040		7,724		5,653			(22	)
Net fee, commission and other income		3,602		3,363		5,061			7
Total income		11,035		11,923		11,147			(7	)
Operating costs		(7,619	)	(6,955	)	(6,171	)		(10	)
UK bank levy		(123	)	(119	)	(120	)		(3	)
Litigation and conduct		5		(1,189	)	(237	)
Total operating expenses		(7,737	)	(8,263	)	(6,528	)		6
Other net income		—		1		3
Profit before impairment		3,298		3,661		4,622			(10	)
Credit impairment (charges)/releases		(102	)	(181	)	342			44
Profit before tax		3,196		3,480		4,964			(8	)
Attributable profit		2,041		2,806		3,601			(27	)

Performance measures
Return on average allocated tangible equity		7.0	%	9.3	%	14.3	%
Average allocated tangible equity (£bn)		29.0		30.0		25.2
Cost: income ratio		70	%	69	%	59	%
Loan loss rate (bps)		9		18		(46	)

Balance sheet information		£bn		£bn		£bn
Loans and advances to customers at amortised cost		62.7		64.6		47.2
Loans and advances to banks at amortised cost		7.3		8.1		7.6
Debt securities at amortised cost		38.9		27.2		19.0
Loans and advances at amortised cost		108.9		99.9		73.8
Trading portfolio assets		174.5		133.7		146.7
Derivative financial instrument assets		255.1		301.6		261.5
Financial assets at fair value through the income statement		202.5		209.4		186.5
Cash collateral and settlement balances		102.3		106.2		86.4
Deposits at amortised cost		132.7		121.5		104.3
Derivative financial instrument liabilities		249.7		288.9		256.4
Risk weighted assets		197.3		195.9		181.7
Period end allocated tangible equity		29.0		28.6		26.4

Analysis of total income		£m		£m		£m			% Change
FICC		4,845		5,695		3,448			(15	)
Equities		2,373		3,149		2,967			(25	)
Global Markets		7,218		8,844		6,415			(18	)
Advisory		593		768		921			(23	)
Equity capital markets		219		166		813			32
Debt capital markets		1,148		1,281		1,925			(10	)
Investment Banking fees		1,960		2,215		3,659			(12	)
Corporate lending		213		(479	)	273
Transaction banking		1,644		1,343		800			22
Total income		11,035		11,923		11,147			(7	)

Movement between year ended 31 December 2023 and year ended 31 December 2022.

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Results by Business

Barclays Investment Bank

●

Barclays Investment Bank RoTE was 7.0% (2022: 9.3%) with a profit before tax of £3,196m (2022: £3,480m) including £169m of Q423 structural cost actions. Excluding the impact of Q423 structural cost actions, Barclays Investment Bank delivered a RoTE of 7.5%

●

Total income decreased 7% to £11,035m and decreased 5% excluding £292m impact from prior year hedging arrangements related to the Over-issuance of Securities1

–

Global Markets income decreased 18% to £7,218m against a record prior year comparative2. FICC income decreased 15% to £4,845m, reflecting lower market volatility and client activity. Equities income decreased 25% to £2,373m, driven by a decline in derivatives income reflecting less volatile equity market conditions

–

Investment Banking fees decreased 12% to £1,960m due to the reduced fee pool across the industry3. Advisory decreased 23% and Debt capital markets decreased 10%, while Equity capital markets increased 32%

–

Transaction banking income increased 22% to £1,644m driven by improved deposit margins in the higher interest rate environment. Corporate lending income increased to £213m (2022: £479m loss) mainly driven by lower costs of hedging and lower fair value losses on leverage finance lending net of mark to market gains on related hedges

●

Total operating expenses decreased 6% to £7,737m. Operating expenses excluding litigation and conduct charges increased 9% to £7,742m reflecting investment in talent and technology, £169m of Q423 structural cost actions and the impact of inflation, partially offset by efficiency savings

●

Credit impairment charges decreased to £102m (2022: £181m), driven by single name charges, partially offset by the benefit of credit protection

●

RWAs increased to £197.3bn (December 2022: £195.9bn)

2022 included £292m of income gain related to hedging arrangements to manage the risks of the rescission offer in relation to the Over-issuance of Securities, impacting Equities within Global Markets and Investment Bank.

Period covering 2014-2023. Pre 2014 data was not restated following re-segmentation in 2016.

Data source: Dealogic for the period covering 1 January to 31 December 2023.

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Results by Business

Barclays US Consumer Bank	Year ended							% Change1
		31.12.23		31.12.22		31.12.21			31.12.22
Income statement information		£m		£m		£m
Net interest income		2,604		1,972		1,125			32
Net fee, commission and other income		664		667		694			—
Total income		3,268		2,639		1,819			24
Operating costs		(1,650	)	(1,525	)	(1,087	)		(8	)
UK bank levy		—		—		—
Litigation and conduct		(6	)	(3	)	(4	)
Total operating expenses		(1,656	)	(1,528	)	(1,091	)		(8	)
Other net income		—		—		—
Profit before impairment		1,612		1,111		728			45
Credit impairment charges		(1,438	)	(624	)	(211	)
Profit before tax		174		487		517			(64	)
Attributable profit		131		356		379			(63	)

Performance measures
Return on average allocated tangible equity		4.1	%	12.7	%	17.2	%
Average allocated tangible equity (£bn)		3.2		2.8		2.2
Cost: income ratio		51	%	58	%	60	%
Loan loss rate (bps)		514		237		116
Net interest margin		10.85	%	9.69	%	7.63	%

Balance sheet information		£bn		£bn		£bn
Loans and advances to customers at amortised cost		24.2		23.6		15.8
Deposits at amortised cost		19.7		18.3		14.5
Risk weighted assets		24.8		23.9		17.1
Period end allocated tangible equity		3.4		3.3		2.3

Barclays US Consumer Bank

●

Profit before tax was £174m (2022: £487m) with a RoTE of 4.1% (2022: 12.7%). Excluding the impact of Q423 structural cost actions RoTE was 4.6%

●

Total income increased 24% to £3,268m, reflecting higher cards balances and improved margins, including the Gap Inc. portfolio acquisition in Q222

●

Total operating expenses increased 8% to £1,656m, driven by higher investment spend to support growth, mainly in marketing and partnership costs, £19m of Q423 structural cost actions and the impact of inflation, partially offset by efficiency savings

●

Credit impairment charges increased to £1,438m (2022: £624m), driven by higher delinquencies in US cards, which was anticipated and led to higher coverage ratios. 30 and 90 day arrears at 2.9% (Q422: 2.2%) and 1.5% (Q422: 1.2%) respectively. The US cards total coverage ratio was 10.2% (December 2022: 8.1%)

●

RWAs increased to £24.8bn (December 2022: £23.9bn), reflecting balance growth

Movement between year ended 31 December 2023 and year ended 31 December 2022.

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Results by Business

Head Office	Year ended							% Change1
		31.12.23		31.12.22		31.12.21			31.12.22
Income statement information		£m		£m		£m
Net interest income		353		24		(129	)
Net fee, commission and other income		157		440		445			(64	)
Total income		510		464		316			10
Operating costs		(1,352	)	(860	)	(1,165	)		(57	)
UK bank levy		(14	)	(20	)	(1	)		30
Litigation and conduct		(48	)	(364	)	(120	)		87
Total operating expenses		(1,414	)	(1,244	)	(1,286	)		(14	)
Other net (expenses)/income		(6	)	4		258
Loss before impairment		(910	)	(776	)	(712	)		(17	)
Credit impairment (charges)/releases		(60	)	(124	)	11			52
Loss before tax		(970	)	(900	)	(701	)		(8	)
Attributable loss		(774	)	(949	)	(184	)		18

Performance measures
Average allocated tangible equity (£bn)		1.1		1.6		5.8

Balance sheet information		£bn		£bn		£bn
Risk weighted assets		19.0		14.7		16.4
Period end allocated tangible equity		3.6		0.7		6.3

Head Office

●

Loss before tax was £970m (2022: £900m) including £515m of Q423 structural cost actions

●

Total income was broadly stable at £510m (2022: £464m)

●

Total operating expenses increased to £1,414m (2022: £1,244m) primarily driven by £515m of Q423 structural cost actions, partially offset by lower litigation and conduct charges

–

Head Office structural cost actions principally include the goodwill and intangible asset impairments related to the merchant acquiring Payment business, and the Canary Wharf office lease exit

●

Credit impairment charges were £60m (2022: £124m) driven by stable credit quality and easing inflationary pressure in the modelled German consumer finance business

●

RWAs increased to £19.0bn (December 2022: £14.7bn) primarily driven by methodology and policy updates including increases in non-customer assets in merchant acquiring relating to settlement balances

Movement between year ended 31 December 2023 and year ended 31 December 2022.

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Quarterly Results Summary

Barclays Group
	Q423			Q323			Q223			Q123			Q422			Q322			Q222			Q122
Income statement information	£m			£m			£m			£m			£m			£m			£m			£m
Net interest income		3,139			3,247			3,270			3,053			2,741			3,068			2,422			2,341
Net fee, commission, trading and other income		2,459			3,011			3,015			4,184			3,060			2,883			4,286			4,155
Total income		5,598			6,258			6,285			7,237			5,801			5,951			6,708			6,496
Operating costs		(4,735	)		(3,949	)		(3,919	)		(4,111	)		(3,748	)		(3,939	)		(3,682	)		(3,588	)
UK bank levy		(180	)		—			—			—			(176	)		—			—			—
Litigation and conduct		(5	)		—			(33	)		1			(79	)		339			(1,334	)		(523	)
Total operating expenses		(4,920	)		(3,949	)		(3,952	)		(4,110	)		(4,003	)		(3,600	)		(5,016	)		(4,111	)
Other net (expenses)/income		(16	)		9			3			(5	)		10			(1	)		7			(10	)
Profit before impairment		662			2,318			2,336			3,122			1,808			2,350			1,699			2,375
Credit impairment charges		(552	)		(433	)		(372	)		(524	)		(498	)		(381	)		(200	)		(141	)
Profit/(loss) before tax		110			1,885			1,964			2,598			1,310			1,969			1,499			2,234
Tax credit/(charge)		23			(343	)		(353	)		(561	)		33			(249	)		(209	)		(614	)
Profit after tax		133			1,542			1,611			2,037			1,343			1,720			1,290			1,620
Non-controlling interests		(25	)		(9	)		(22	)		(8	)		(22	)		(2	)		(20	)		(1	)
Other equity instrument holders		(219	)		(259	)		(261	)		(246	)		(285	)		(206	)		(199	)		(215	)
Attributable (loss)/profit		(111	)		1,274			1,328			1,783			1,036			1,512			1,071			1,404

Performance measures
Return on average tangible shareholders' equity		(0.9	)%		11.0	%		11.4	%		15.0	%		8.9	%		12.5	%		8.7	%		11.5	%
Average tangible shareholders' equity (£bn)		48.9			46.5			46.7			47.6			46.7			48.6			49.0			48.8
Cost: income ratio		88	%		63	%		63	%		57	%		69	%		60	%		75	%		63	%
Loan loss rate (bps)		54			42			37			52			49			36			20			15
Basic earnings per share		(0.7	)p		8.3	p		8.6	p		11.3	p		6.5	p		9.4	p		6.4	p		8.4	p
Basic weighted average number of shares (m)		15,092			15,405			15,523			15,770			15,828			16,148			16,684			16,682
Period end number of shares (m)		15,155			15,239			15,556			15,701			15,871			15,888			16,531			16,762

Balance sheet and capital management		£bn			£bn			£bn			£bn			£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		333.3			339.6			337.4			343.6			343.3			346.3			337.2			325.8
Loans and advances to banks at amortised cost		9.5			11.5			10.9			11.0			10.0			12.5			12.5			11.4
Debt securities at amortised cost		56.7			54.3			53.1			48.9			45.5			54.8			46.1			34.5
Loans and advances at amortised cost		399.5			405.4			401.4			403.5			398.8			413.7			395.8			371.7
Loans and advances at amortised cost impairment coverage ratio		1.4	%		1.4	%		1.4	%		1.4	%		1.4	%		1.4	%		1.4	%		1.5	%
Total assets		1,477.5			1,591.7			1,549.7			1,539.1			1,513.7			1,726.9			1,589.2			1,496.1
Deposits at amortised cost		538.8			561.3			554.7			555.7			545.8			574.4			568.7			546.5
Tangible net asset value per share		331	p		316	p		291	p		301	p		295	p		286	p		297	p		294	p
Common equity tier 1 ratio		13.8	%		14.0	%		13.8	%		13.6	%		13.9	%		13.8	%		13.6	%		13.8	%
Common equity tier 1 capital		47.3			48.0			46.6			46.0			46.9			48.6			46.7			45.3
Risk weighted assets		342.7			341.9			336.9			338.4			336.5			350.8			344.5			328.8
UK leverage ratio		5.2	%		5.0	%		5.1	%		5.1	%		5.3	%		5.0	%		5.1	%		5.0	%
UK leverage exposure		1,168.3			1,202.4			1,183.7			1,168.9			1,130.0			1,232.1			1,151.2			1,123.5

Funding and liquidity
Group liquidity pool (£bn)		298.1			335.0			330.7			333.0			318.0			325.8			342.5			319.8
Liquidity coverage ratio		161	%		159	%		157	%		157	%		156	%		156	%		157	%		159	%
Net stable funding ratio		138	%		138	%		139	%		139	%		137	%
Loan: deposit ratio		74	%		72	%		72	%		73	%		73	%		72	%		70	%		68	%

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Quarterly Results by Business

Barclays UK is unaffected by the resegmentation and financials are presented below for completeness only.

Barclays UK
	Q423			Q323			Q223			Q123			Q422			Q322			Q222			Q122
Income statement information	£m			£m			£m			£m			£m			£m			£m			£m
Net interest income		1,575			1,578			1,660			1,618			1,600			1,561			1,393			1,339
Net fee, commission and other income		217			295			301			343			370			355			331			310
Total income		1,792			1,873			1,961			1,961			1,970			1,916			1,724			1,649
Operating costs		(1,153	)		(1,058	)		(1,090	)		(1,092	)		(1,108	)		(1,069	)		(1,085	)		(998	)
UK bank levy		(30	)		—			—			—			(26	)		—			—			—
Litigation and conduct		(4	)		9			5			(2	)		(13	)		(3	)		(16	)		(9	)
Total operating expenses		(1,187	)		(1,049	)		(1,085	)		(1,094	)		(1,147	)		(1,072	)		(1,101	)		(1,007	)
Other net income/(expenses)		—			—			—			—			1			(1	)		—			—
Profit before impairment		605			824			876			867			824			843			623			642
Credit impairment charges		(37	)		(59	)		(95	)		(113	)		(157	)		(81	)		—			(48	)
Profit before tax		568			765			781			754			667			762			623			594
Attributable profit		382			531			534			515			474			549			458			396

Balance sheet information		£bn			£bn			£bn			£bn			£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		202.8			204.9			206.8			208.2			205.1			205.1			205.9			207.3
Customer deposits at amortised cost		241.1			243.2			249.8			254.3			258.0			261.0			261.5			260.3
Loan: deposit ratio		92	%		92	%		90	%		90	%		87	%		86	%		85	%		85	%
Risk weighted assets		73.5			73.2			73.0			74.6			73.1			73.2			72.2			72.7
Period end allocated tangible equity		10.2			10.1			10.1			10.3			10.1			10.1			9.9			10.1

Performance measures
Return on average allocated tangible equity		14.9	%		21.0	%		20.9	%		20.0	%		18.7	%		22.1	%		18.4	%		15.6	%
Average allocated tangible equity (£bn)		10.2			10.1			10.2			10.3			10.2			9.9			10.0			10.1
Cost: income ratio		66	%		56	%		55	%		56	%		58	%		56	%		64	%		61	%
Loan loss rate (bps)		7			10			17			20			27			14			—			9
Net interest margin		3.07	%		3.04	%		3.22	%		3.18	%		3.10	%		3.01	%		2.71	%		2.62	%

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Quarterly Results by Business

Analysis of Barclays UK	Q423			Q323			Q223			Q123			Q422			Q322			Q222			Q122
Analysis of total income	£m			£m			£m			£m			£m			£m			£m			£m
Personal Banking		1,067			1,165			1,244			1,253			1,229			1,212			1,077			1,022
Barclaycard Consumer UK		242			238			237			247			269			283			265			276
Business Banking		483			470			480			461			472			421			382			351
Total income		1,792			1,873			1,961			1,961			1,970			1,916			1,724			1,649

Analysis of credit impairment charges
Personal Banking		35			(85	)		(92	)		(28	)		(120	)		(26	)		(42	)		21
Barclaycard Consumer UK		(73	)		29			(35	)		(83	)		(12	)		2			84			(44	)
Business Banking		1			(3	)		32			(2	)		(25	)		(57	)		(42	)		(25	)
Total credit impairment charges		(37	)		(59	)		(95	)		(113	)		(157	)		(81	)		—			(48	)

Analysis of loans and advances to customers at amortised cost		£bn			£bn			£bn			£bn			£bn			£bn			£bn			£bn
Personal Banking		170.1			172.3			173.3			173.6			169.7			168.7			167.1			166.5
Barclaycard Consumer UK		9.7			9.6			9.3			9.0			9.2			9.0			8.8			8.4
Business Banking		23.0			23.0			24.2			25.6			26.2			27.4			30.0			32.4
Total loans and advances to customers at amortised cost		202.8			204.9			206.8			208.2			205.1			205.1			205.9			207.3

Analysis of customer deposits at amortised cost
Personal Banking		185.4			186.1			191.1			194.3			195.6			197.3			197.0			196.6
Barclaycard Consumer UK		—			—			—			—			—			—			—			—
Business Banking		55.7			57.1			58.7			60.0			62.4			63.7			64.5			63.7
Total customer deposits at amortised cost		241.1			243.2			249.8			254.3			258.0			261.0			261.5			260.3

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Quarterly Results by Business

Barclays UK Corporate Bank
	Q423			Q323			Q223			Q123			Q422			Q322			Q222			Q122
Income statement information	£m			£m			£m			£m			£m			£m			£m			£m
Net interest income		247			304			299			310			324			309			266			233
Net fee, commission, trading and other income		148			136			173			153			153			124			139			109
Total income		395			440			472			463			477			433			405			342
Operating costs		(258	)		(224	)		(213	)		(210	)		(213	)		(209	)		(198	)		(192	)
UK bank levy		(8	)		—			—			—			(7	)		—			—			—
Litigation and conduct		(1	)		2			—			—			—			—			—			—
Total operating expenses		(267	)		(222	)		(213	)		(210	)		(220	)		(209	)		(198	)		(192	)
Other net (expenses)/income		(5	)		—			1			1			1			—			—			—
Profit before impairment		123			218			260			254			258			224			207			150
Credit impairment (charges)/releases		(18	)		(15	)		84			(24	)		(52	)		32			29			(9	)
Profit before tax		105			203			344			230			206			256			236			141
Attributable profit		59			129			239			157			131			172			166			94

Balance sheet information		£bn			£bn			£bn			£bn			£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		26.4			26.9			26.9			27.2			26.9			27.2			27.1			27.1
Deposits at amortised cost		84.9			82.7			82.6			83.6			84.4			86.1			87.1			83.8
Risk weighted assets		20.9			19.5			20.6			20.2			21.1			20.4			21.0			20.4
Period end allocated tangible equity		3.0			2.8			2.9			2.9			3.0			2.9			3.0			2.9

Performance measures
Return on average allocated tangible equity		8.4	%		18.3	%		32.9	%		21.7	%		17.8	%		23.4	%		22.3	%		13.1	%
Average allocated tangible equity (£bn)		2.8			2.8			2.9			2.9			2.9			2.9			3.0			2.9
Cost: income ratio		68	%		50	%		45	%		45	%		46	%		48	%		49	%		56	%
Loan loss rate (bps)		27			21			(123	)		36			74			(45	)		(42	)		14

Analysis of total income		£m			£m			£m			£m			£m			£m			£m			£m
Corporate lending		64			69			68			61			66			56			63			62
Transaction banking		331			371			404			402			411			377			342			280
Total income		395			440			472			463			477			433			405			342

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Quarterly Results by Business

Barclays Private Bank and Wealth Management
	Q423			Q323			Q223			Q123			Q422			Q322			Q222			Q122
Income statement information	£m			£m			£m			£m			£m			£m			£m			£m
Net interest income		182			219			186			181			205			197			167			146
Net fee, commission, trading and other income		131			118			113			78			81			72			78			68
Total income		313			337			299			259			286			269			245			214
Operating costs		(255	)		(214	)		(182	)		(144	)		(153	)		(135	)		(138	)		(119	)
UK bank levy		(4	)		—			—			—			(4	)		—			—			—
Litigation and conduct		2			—			—			—			—			—			—			—
Total operating expenses		(257	)		(214	)		(182	)		(144	)		(157	)		(135	)		(138	)		(119	)
Other net income		—			—			—			—			—			—			—			—
Profit before impairment		56			123			117			115			129			134			107			95
Credit impairment releases/(charges)		4			2			(7	)		(3	)		(10	)		—			3			2
Profit before tax		60			125			110			112			119			134			110			97
Attributable profit		47			102			91			90			92			108			85			85

Balance sheet information		£bn			£bn			£bn			£bn			£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		13.6			13.4			13.8			14.3			14.4			14.6			14.3			13.6
Deposits at amortised cost		60.3			59.7			59.2			60.8			62.3			62.9			59.1			55.4
Risk weighted assets		7.2			7.2			7.2			7.5			7.8			7.9			7.4			7.2
Period end allocated tangible equity		1.0			1.0			1.0			1.0			1.1			1.1			1.0			1.0

Performance measures
Return on average allocated tangible equity		19.1	%		41.2	%		35.9	%		34.5	%		34.9	%		41.7	%		33.5	%		34.8	%
Average allocated tangible equity (£bn)		1.0			1.0			1.0			1.0			1.1			1.0			1.0			1.0
Cost: income ratio		82	%		63	%		61	%		56	%		55	%		50	%		56	%		55	%
Loan loss rate (bps)		(10	)		(7	)		20			7			26			1			(7	)		(6	)

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Quarterly Results by Business

Barclays Investment Bank
	Q423			Q323			Q223			Q123			Q422			Q322			Q222			Q122
Income statement information	£m			£m			£m			£m			£m			£m			£m			£m
Net interest income		282			397			555			159			228			304			147			157
Net trading income		757			1,497			1,351			2,435			1,197			1,346			2,734			2,447
Net fee, commission and other income		998			792			837			975			731			794			801			1,037
Total income		2,037			2,686			2,743			3,569			2,156			2,444			3,682			3,641
Operating costs		(1,934	)		(1,840	)		(1,813	)		(2,032	)		(1,619	)		(1,869	)		(1,704	)		(1,763	)
UK bank levy		(123	)		—			—			—			(119	)		—			—			—
Litigation and conduct		(2	)		6			(1	)		2			(55	)		498			(1,314	)		(318	)
Total operating expenses		(2,059	)		(1,834	)		(1,814	)		(2,030	)		(1,793	)		(1,371	)		(3,018	)		(2,081	)
Other net (expenses)/income		(1	)		2			—			(1	)		1			1			(1	)		—
Profit before impairment		(23	)		854			929			1,538			364			1,074			663			1,560
Credit impairment (charges)/releases		(23	)		23			(77	)		(25	)		(22	)		(93	)		(106	)		40
(Loss)/profit before tax		(46	)		877			852			1,513			342			981			557			1,600
Attributable (loss)/profit		(149	)		580			562			1,048			313			847			418			1,228

Balance sheet information		£bn			£bn			£bn			£bn			£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		62.7			62.3			59.1			63.1			64.6			67.5			60.5			53.4
Loans and advances to banks at amortised cost		7.3			9.5			9.0			9.1			8.1			10.1			10.0			9.4
Debt securities at amortised cost		38.9			36.3			35.1			30.7			27.2			36.2			29.3			20.7
Loans and advances at amortised cost		108.9			108.1			103.2			102.9			99.9			113.8			99.8			83.5
Trading portfolio assets		174.5			155.3			165.0			137.6			133.7			126.1			126.7			134.0
Derivative financial instrument assets		255.1			280.4			264.8			256.5			301.6			415.5			343.4			288.7
Financial assets at fair value through the income statement		202.5			237.2			231.1			243.8			209.4			243.6			208.0			202.4
Cash collateral and settlement balances		102.3			134.6			122.1			124.3			106.2			162.2			127.1			130.6
Deposits at amortised cost		132.7			154.2			142.9			137.3			121.5			143.4			142.5			130.9
Derivative financial instrument liabilities		249.7			268.3			254.5			246.7			288.9			394.2			321.2			277.1
Risk weighted assets		197.3			201.1			197.2			198.0			195.9			211.4			207.7			194.1
Period end allocated tangible equity		29.0			29.0			28.7			28.9			28.6			30.8			30.3			28.5

Performance measures
Return on average allocated tangible equity		(2.1	)%		8.0	%		7.7	%		14.4	%		4.0	%		10.9	%		5.6	%		17.5	%
Average allocated tangible equity (£bn)		28.9			28.8			29.0			29.1			30.9			31.2			29.9			28.1
Cost: income ratio		101	%		68	%		66	%		57	%		83	%		56	%		82	%		57	%
Loan loss rate (bps)		8			(8	)		30			10			9			32			42			(19	)

Analysis of total income		£m			£m			£m			£m			£m			£m			£m			£m
FICC		724			1,147			1,186			1,788			976			1,546			1,529			1,644
Equities		431			675			563			704			440			246			1,411			1,052
Global Markets		1,155			1,822			1,749			2,492			1,416			1,792			2,940			2,696
Advisory		171			80			130			212			197			150			236			185
Equity capital markets		38			62			69			50			40			42			37			47
Debt capital markets		301			233			273			341			243			341			281			416
Investment Banking fees		510			375			472			603			480			533			554			648
Corporate lending		(23	)		103			100			33			(194	)		(237	)		(110	)		62
Transaction banking		395			386			422			441			454			356			298			235
Total income		2,037			2,686			2,743			3,569			2,156			2,444			3,682			3,641

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Quarterly Results by Business

Barclays US Consumer Bank
	Q423			Q323			Q223			Q123			Q422			Q322			Q222			Q122
Income statement information	£m			£m			£m			£m			£m			£m			£m			£m
Net interest income		686			662			622			634			639			616			389			328
Net fee, commission, trading and other income		180			147			145			192			149			137			240			141
Total income		866			809			767			826			788			753			629			469
Operating costs		(418	)		(404	)		(401	)		(427	)		(425	)		(429	)		(365	)		(306	)
UK bank levy		—			—			—			—			—			—			—			—
Litigation and conduct		(2	)		—			(4	)		—			(3	)		—			—			—
Total operating expenses		(420	)		(404	)		(405	)		(427	)		(428	)		(429	)		(365	)		(306	)
Other net income		—			—			—			—			—			—			—			—
Profit before impairment		446			405			362			399			360			324			264			163
Credit impairment charges		(449	)		(404	)		(264	)		(321	)		(224	)		(172	)		(108	)		(120	)
(Loss)/profit before tax		(3	)		1			98			78			136			152			156			43
Attributable (loss)/profit		(3	)		3			72			59			101			107			118			30

Balance sheet information		£bn			£bn			£bn			£bn			£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		24.2			24.3			22.9			22.5			23.6			23.6			21.0			16.2
Deposits at amortised cost		19.7			19.3			17.9			18.1			18.3			19.8			17.8			15.1
Risk weighted assets		24.8			24.1			22.5			22.5			23.9			23.6			21.7			17.7
Period end allocated tangible equity		3.4			3.3			3.1			3.1			3.3			3.2			3.0			2.4

Performance measures
Return on average allocated tangible equity		(0.3	)%		0.4	%		9.3	%		7.5	%		12.6	%		13.9	%		18.2	%		5.3	%
Average allocated tangible equity (£bn)		3.3			3.1			3.1			3.1			3.2			3.1			2.6			2.4
Cost: income ratio		48	%		50	%		53	%		52	%		54	%		57	%		58	%		65	%
Loan loss rate (bps)		636			582			411			515			337			257			179			259
Net interest margin		10.88	%		10.88	%		10.66	%		10.97	%		10.64	%		10.81	%		8.37	%		8.12	%

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Quarterly Results by Business

Head Office
	Q423			Q323			Q223			Q123			Q422			Q322			Q222			Q122
Income statement information	£m			£m			£m			£m			£m			£m			£m			£m
Net interest income		168			87			(52	)		150			(253	)		80			61			136
Net fee, commission and other income		27			26			96			8			378			55			(38	)		45
Total income		195			113			43			159			124			136			23			181
Operating costs		(717	)		(209	)		(220	)		(206	)		(230	)		(228	)		(192	)		(210	)
UK bank levy		(14	)		—			—			—			(20	)		—			—			—
Litigation and conduct		1			(16	)		(32	)		(1	)		(9	)		(155	)		(4	)		(196	)
Total operating expenses		(730	)		(226	)		(253	)		(205	)		(258	)		(384	)		(196	)		(406	)
Other net (expenses)/income		(10	)		7			2			(5	)		7			(1	)		8			(10	)
Loss before impairment		(545	)		(106	)		(208	)		(51	)		(127	)		(249	)		(165	)		(235	)
Credit impairment (charges)/releases		(29	)		20			(13	)		(38	)		(33	)		(67	)		(18	)		(6	)
Loss before tax		(574	)		(86	)		(221	)		(89	)		(160	)		(316	)		(183	)		(241	)
Attributable loss		(447	)		(71	)		(170	)		(86	)		(75	)		(271	)		(174	)		(429	)

Balance sheet information		£bn			£bn			£bn			£bn			£bn			£bn			£bn			£bn
Risk weighted assets		19.0			16.8			16.4			15.6			14.7			14.3			14.5			16.7
Period end allocated tangible equity		3.6			2.0			(0.5	)		1.1			0.7			(2.6	)		1.9			4.4

Performance measures
Average allocated tangible equity (£bn)		2.7			0.7			0.5			1.2			(1.6	)		0.5			2.5			4.3

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2023 Barclays UK Corporate Bank

				Moves from			Moves to
	Corporate and Investment Bank as published			Consumer, Cards and Payments			Barclays Investment Bank			Barclays UK Corporate Bank

Income statement information	£m			£m			£m			£m
Net interest income		2,551			2			(1,393	)		1,160
Net fee, commission, trading and other income		10,059			193			(9,642	)		610
Total income		12,610			195			(11,035	)		1,770
Operating costs		(8,335	)		(189	)		7,619			(905	)
UK bank levy		(129	)		(2	)		123			(8	)
Litigation and conduct		6			—			(5	)		1
Total operating expenses		(8,458	)		(192	)		7,737			(912	)
Other net expenses		(3	)		—			—			(3	)
Profit before impairment		4,149			3			(3,298	)		855
Credit impairment (charges)/releases		(23	)		(52	)		102			27
Profit before tax		4,126			(49	)		(3,196	)		882
Attributable profit		2,667			(41	)		(2,041	)		584

Performance measures
Return on average allocated tangible equity		8.4	%								20.5	%
Average allocated tangible equity (£bn)		31.7									2.9
Cost: income ratio		67	%								52	%
Loan loss rate (bps)		2									(10	)

Performance measures excluding Q423 structural cost actions
Q423 structural cost actions (£m)		(188	)		(7	)		169			(27	)
Return on average allocated tangible equity		8.9	%								21.2	%
Cost: income ratio		66	%								50	%

Balance sheet information		£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		87.8			1.2			(62.6	)		26.4
Deposits at amortised cost		217.7			—			(132.7	)		84.9
Risk weighted assets		216.8			1.4			(197.3	)		20.9
Period end allocated tangible equity		31.7									3.0

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2022 Barclays UK Corporate Bank

				Moves from			Moves to
	Corporate and Investment Bank as published			Consumer, Cards and Payments			Barclays Investment Bank			Barclays UK Corporate Bank

Income statement information	£m			£m			£m			£m
Net interest income		1,949			20			(836	)		1,132
Net fee, commission, trading and other income		11,419			193			(11,087	)		525
Total income		13,368			213			(11,923	)		1,657
Operating costs		(7,630	)		(136	)		6,955			(812	)
UK bank levy		(126	)		(1	)		119			(7	)
Litigation and conduct		(1,189	)		—			1,189			—
Total operating expenses		(8,945	)		(137	)		8,263			(819	)
Other net income		2			—			(1	)		1
Profit before impairment		4,425			75			(3,661	)		839
Credit impairment charges		(119	)		(62	)		181			—
Profit before tax		4,306			14			(3,480	)		839
Attributable profit		3,364			6			(2,806	)		563

Performance measures
Return on average allocated tangible equity		10.2	%								19.2	%
Average allocated tangible equity (£bn)		32.8									2.9
Cost: income ratio		67	%								49	%
Loan loss rate (bps)		9									—

Balance sheet information		£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		90.5			1.0			(64.6	)		26.9
Deposits at amortised cost		205.8			—			(121.5	)		84.4
Risk weighted assets		215.9			1.1			(195.9	)		21.1
Period end allocated tangible equity		31.5									3.0

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2021 Barclays UK Corporate Bank

				Moves from			Moves to
	Corporate and Investment Bank as published			Consumer, Cards and Payments			Barclays Investment Bank			Barclays UK Corporate Bank

Income statement information	£m			£m			£m			£m
Net interest income		1,351			19			(433	)		936
Net fee, commission, trading and other income		10,983			135			(10,714	)		405
Total income		12,334			154			(11,147	)		1,341
Operating costs		(6,818	)		(133	)		6,171			(778	)
UK bank levy		(128	)		(1	)		120			(9	)
Litigation and conduct		(237	)		—			237			—
Total operating expenses		(7,183	)		(134	)		6,528			(787	)
Other net income/(expenses)		2			—			(3	)		(1	)
Profit before impairment		5,153			20			(4,622	)		553
Credit impairment releases		473			6			(342	)		137
Profit before tax		5,626			26			(4,964	)		690
Attributable profit		4,032			15			(3,601	)		446

Performance measures
Return on average allocated tangible equity		14.3	%								13.9	%
Average allocated tangible equity (£bn)		28.3									3.2
Cost: income ratio		58	%								59	%
Loan loss rate (bps)		(47	)								(50	)

Balance sheet information		£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		73.4			0.8			(47.2	)		27.0
Deposits at amortised cost		189.4			—			(104.3	)		85.0
Risk weighted assets		200.7			0.9			(181.7	)		19.9
Period end allocated tangible equity		29.1									2.8

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2023 Barclays Private Bank and Wealth Management

				Moves to
	Consumer, Cards and Payments as published			Barclays UK Corporate Bank			Barclays US Consumer Bank			Head Office			Barclays Private Bank and Wealth Management

Income statement information	£m			£m			£m			£m			£m
Net interest income		3,646			(2	)		(2,604	)		(272	)		768
Net fee, commission, trading and other income		1,662			(193	)		(664	)		(365	)		440
Total income		5,308			(195	)		(3,268	)		(637	)		1,208
Operating costs		(3,243	)		189			1,650			609			(795	)
UK bank levy		(7	)		2			—			—			(4	)
Litigation and conduct		(53	)		—			6			50			2
Total operating expenses		(3,303	)		192			1,656			659			(797	)
Other net income		1			—			—			(1	)		—
Profit before impairment		2,006			(3	)		(1,612	)		21			411
Credit impairment charges		(1,525	)		52			1,438			31			(4	)
Profit before tax		481			49			(174	)		51			407
Attributable profit		358			41			(131	)		61			330

Performance measures
Return on average allocated tangible equity		6.7	%											32.7	%
Average allocated tangible equity (£bn)		5.3												1.0
Cost: income ratio		62	%											66	%
Loan loss rate (bps)		354												3

Performance measures excluding Q423 structural cost actions
Q423 structural cost actions (£m)		(118	)		7			19			62			(29	)
Return on average allocated tangible equity		8.6	%											35.1	%
Cost: income ratio		60	%											64	%

Balance sheet information		£bn			£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		39.0			(1.2	)		(24.2	)		—			13.6
Deposits at amortised cost		80.0			—			(19.7	)		—			60.3
Risk weighted assets		42.3			(1.4	)		(24.8	)		(8.9	)		7.2
Period end allocated tangible equity		5.8												1.0

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2022 Barclays Private Bank and Wealth Management

				Moves to
	Consumer, Cards and Payments as published			Barclays UK Corporate Bank			Barclays US Consumer Bank			Head Office			Barclays Private Bank and Wealth Management

Income statement information	£m			£m			£m			£m			£m
Net interest income		2,979			(20	)		(1,972	)		(272	)		715
Net fee, commission, trading and other income		1,520			(193	)		(667	)		(361	)		299
Total income		4,499			(213	)		(2,639	)		(633	)		1,014
Operating costs		(2,731	)		136			1,525			525			(545	)
UK bank levy		(7	)		1			—			1			(4	)
Litigation and conduct		(314	)		—			3			312			—
Total operating expenses		(3,052	)		137			1,528			838			(549	)
Other net income		26			—			—			(26	)		—
Profit before impairment		1,473			(75	)		(1,111	)		179			465
Credit impairment charges		(814	)		62			624			123			(5	)
Profit before tax		659			(14	)		(487	)		302			460
Attributable profit		480			(6	)		(356	)		252			370

Performance measures
Return on average allocated tangible equity		10.0	%											36.3	%
Average allocated tangible equity (£bn)		4.8												1.0
Cost: income ratio		68	%											54	%
Loan loss rate (bps)		175												4

Balance sheet information		£bn			£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		43.2			(1.0	)		(23.6	)		(4.1	)		14.4
Deposits at amortised cost		81.8			—			(18.3	)		(1.1	)		62.3
Risk weighted assets		38.9			(1.1	)		(23.9	)		(6.2	)		7.8
Period end allocated tangible equity		5.4												1.1

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2021 Barclays Private Bank and Wealth Management

				Moves to
	Consumer, Cards and Payments as published			Barclays UK Corporate Bank			Barclays US Consumer Bank			Head Office			Barclays Private Bank and Wealth Management

Income statement information	£m			£m			£m			£m			£m
Net interest income		1,912			(19	)		(1,125	)		(263	)		505
Net fee, commission, trading and other income		1,419			(135	)		(694	)		(314	)		276
Total income		3,331			(154	)		(1,819	)		(577	)		781
Operating costs		(2,258	)		133			1,087			505			(534	)
UK bank levy		(6	)		1			—			1			(4	)
Litigation and conduct		(108	)		—			4			105			1
Total operating expenses		(2,372	)		134			1,091			611			(537	)
Other net income		38			—			—			(38	)		—
Profit before impairment		997			(20	)		(728	)		(4	)		244
Credit impairment (charges)/releases		(185	)		(6	)		211			(11	)		9
Profit before tax		812			(26	)		(517	)		(15	)		253
Attributable profit		615			(15	)		(379	)		(14	)		207

Performance measures
Return on average allocated tangible equity		15.0	%											22.5	%
Average allocated tangible equity (£bn)		4.1												0.9
Cost: income ratio		71	%											69	%
Loan loss rate (bps)		51												(7	)

Balance sheet information		£bn			£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		33.0			(0.8	)		(15.8	)		(3.4	)		13.0
Deposits at amortised cost		69.4			—			(14.5	)		(0.8	)		54.1
Risk weighted assets		30.2			(0.9	)		(17.1	)		(5.5	)		6.7
Period end allocated tangible equity		4.2												0.9

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2023 Barclays Investment Bank

				Moves to
	Corporate and Investment Bank as published			Barclays UK Corporate Bank			Barclays Investment Bank

Income statement information	£m			£m			£m
Net interest income		2,551			(1,158	)		1,393
Net trading income		6,056			(16	)		6,040
Net fee, commission and other income		4,003			(401	)		3,602
Total income		12,610			(1,575	)		11,035
Operating costs		(8,335	)		715			(7,619	)
UK bank levy		(129	)		6			(123	)
Litigation and conduct		6			(1	)		5
Total operating expenses		(8,458	)		721			(7,737	)
Other net expenses		(3	)		3			—
Profit before impairment		4,149			(852	)		3,298
Credit impairment charges		(23	)		(79	)		(102	)
Profit before tax		4,126			(930	)		3,196
Attributable profit		2,667			(626	)		2,041

Performance measures
Return on average allocated tangible equity		8.4	%					7.0	%
Average allocated tangible equity (£bn)		31.7						29.0
Cost: income ratio		67	%					70	%
Loan loss rate (bps)		2						9

Performance measures excluding Q423 structural cost actions
Q423 structural cost actions (£m)		(188	)		19			(169	)
Return on average allocated tangible equity		8.9	%					7.5	%
Cost: income ratio		66	%					69	%

Balance sheet information		£bn			£bn			£bn
Loans and advances to customers at amortised cost		87.8			(25.2	)		62.7
Loans and advances to banks at amortised cost		7.4			—			7.3
Debt securities at amortised cost		38.9			—			38.9
Loans and advances at amortised cost		134.1			(25.2	)		108.9
Trading portfolio assets		174.5			—			174.5
Derivative financial instrument assets		255.1			—			255.1
Financial assets at fair value through the income statement		203.6			(1.0	)		202.5
Cash collateral and settlement balances		102.9			(0.5	)		102.3
Deposits at amortised cost		217.7			(84.9	)		132.7
Derivative financial instrument liabilities		249.7			—			249.7
Risk weighted assets		216.8			(19.5	)		197.3
Period end allocated tangible equity		31.7						29.0

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2022 Barclays Investment Bank

				Moves to
	Corporate and Investment Bank as published			Barclays UK Corporate Bank			Barclays Investment Bank

Income statement information	£m			£m			£m
Net interest income		1,949			(1,113	)		836
Net trading income		7,733			(8	)		7,724
Net fee, commission and other income		3,686			(324	)		3,363
Total income		13,368			(1,445	)		11,923
Operating costs		(7,630	)		675			(6,955	)
UK bank levy		(126	)		6			(119	)
Litigation and conduct		(1,189	)		—			(1,189	)
Total operating expenses		(8,945	)		682			(8,263	)
Other net income		2			(1	)		1
Profit before impairment		4,425			(764	)		3,661
Credit impairment charges		(119	)		(62	)		(181	)
Profit before tax		4,306			(826	)		3,480
Attributable profit		3,364			(557	)		2,806

Performance measures
Return on average allocated tangible equity		10.2	%					9.3	%
Average allocated tangible equity (£bn)		32.8						30.0
Cost: income ratio		67	%					69	%
Loan loss rate (bps)		9						18

Balance sheet information		£bn			£bn			£bn
Loans and advances to customers at amortised cost		90.5			(25.9	)		64.6
Loans and advances to banks at amortised cost		8.1			—			8.1
Debt securities at amortised cost		27.2			—			27.2
Loans and advances at amortised cost		125.8			(25.9	)		99.9
Trading portfolio assets		133.7			—			133.7
Derivative financial instrument assets		301.6			—			301.6
Financial assets at fair value through the income statement		210.5			(1.1	)		209.4
Cash collateral and settlement balances		106.9			(0.7	)		106.2
Deposits at amortised cost		205.8			(84.3	)		121.5
Derivative financial instrument liabilities		288.9			—			288.9
Risk weighted assets		215.9			(19.9	)		195.9
Period end allocated tangible equity		31.5						28.6

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2021 Barclays Investment Bank

				Moves to
	Corporate and Investment Bank as published			Barclays UK Corporate Bank			Barclays Investment Bank

Income statement information	£m			£m			£m
Net interest income		1,351			(918	)		433
Net trading income		5,652			1			5,653
Net fee, commission and other income		5,331			(271	)		5,061
Total income		12,334			(1,187	)		11,147
Operating costs		(6,818	)		646			(6,171	)
UK bank levy		(128	)		8			(120	)
Litigation and conduct		(237	)		—			(237	)
Total operating expenses		(7,183	)		654			(6,528	)
Other net income		2			1			3
Profit before impairment		5,153			(532	)		4,622
Credit impairment releases		473			(131	)		342
Profit before tax		5,626			(663	)		4,964
Attributable profit		4,032			(431	)		3,601

Performance measures
Return on average allocated tangible equity		14.3	%					14.3	%
Average allocated tangible equity (£bn)		28.3						25.2
Cost: income ratio		58	%					59	%
Loan loss rate (bps)		(47	)					(46	)

Balance sheet information		£bn			£bn			£bn
Loans and advances to customers at amortised cost		73.4			(26.2	)		47.2
Loans and advances to banks at amortised cost		7.6			—			7.6
Debt securities at amortised cost		19.0			—			19.0
Loans and advances at amortised cost		100.0			(26.2	)		73.8
Trading portfolio assets		146.7			—			146.7
Derivative financial instrument assets		261.5			—			261.5
Financial assets at fair value through the income statement		188.1			(1.7	)		186.5
Cash collateral and settlement balances		87.2			(0.8	)		86.4
Deposits at amortised cost		189.4			(85.0	)		104.3
Derivative financial instrument liabilities		256.4			—			256.4
Risk weighted assets		200.7			(19.0	)		181.7
Period end allocated tangible equity		29.1						26.4

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2023 Barclays US Consumer Bank

				Moves to
	Consumer, Cards and Payments as published			Barclays UK Corporate Bank			Barclays Private Bank and Wealth Management			Head Office			Barclays US Consumer Bank

Income statement information	£m			£m			£m			£m			£m
Net interest income		3,646			(2	)		(768	)		(272	)		2,604
Net fee, commission, trading and other income		1,662			(193	)		(440	)		(365	)		664
Total income		5,308			(195	)		(1,208	)		(637	)		3,268
Operating costs		(3,243	)		189			795			609			(1,650	)
UK bank levy		(7	)		2			4			—			—
Litigation and conduct		(53	)		—			(2	)		50			(6	)
Total operating expenses		(3,303	)		192			797			659			(1,656	)
Other net income		1			—			—			(1	)		—
Profit before impairment		2,006			(3	)		(411	)		21			1,612
Credit impairment charges		(1,525	)		52			4			31			(1,438	)
Profit before tax		481			49			(407	)		51			174
Attributable profit		358			41			(330	)		61			131

Performance measures
Return on average allocated tangible equity		6.7	%											4.1	%
Average allocated tangible equity (£bn)		5.3												3.2
Cost: income ratio		62	%											51	%
Loan loss rate (bps)		354												514
Net interest margin		8.50	%											10.85	%

Performance measures excluding Q423 structural cost actions
Q423 structural cost actions (£m)		(118	)		7			29			62			(19	)
Return on average allocated tangible equity		8.6	%											4.6	%
Cost: income ratio		60	%											50	%

Balance sheet information		£bn			£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		39.0			(1.2	)		(13.6	)		—			24.2
Deposits at amortised cost		80.0			—			(60.3	)		—			19.7
Risk weighted assets		42.3			(1.4	)		(7.2	)		(8.9	)		24.8
Period end allocated tangible equity		5.8												3.4

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2022 Barclays US Consumer Bank

				Moves to
	Consumer, Cards and Payments as published			Barclays UK Corporate Bank			Barclays Private Bank and Wealth Management			Head Office			Barclays US Consumer Bank

Income statement information	£m			£m			£m			£m			£m
Net interest income		2,979			(20	)		(715	)		(272	)		1,972
Net fee, commission, trading and other income		1,520			(193	)		(299	)		(361	)		667
Total income		4,499			(213	)		(1,014	)		(633	)		2,639
Operating costs		(2,731	)		136			545			525			(1,525	)
UK bank levy		(7	)		1			4			1			—
Litigation and conduct		(314	)		—			—			312			(3	)
Total operating expenses		(3,052	)		137			549			838			(1,528	)
Other net income		26			—			—			(26	)		—
Profit before impairment		1,473			(75	)		(465	)		179			1,111
Credit impairment charges		(814	)		62			5			123			(624	)
Profit before tax		659			(14	)		(460	)		302			487
Attributable profit		480			(6	)		(370	)		252			356

Performance measures
Return on average allocated tangible equity		10.0	%											12.7	%
Average allocated tangible equity (£bn)		4.8												2.8
Cost: income ratio		68	%											58	%
Loan loss rate (bps)		175												237
Net interest margin		7.60	%											9.69	%

Balance sheet information		£bn			£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		43.2			(1.0	)		(14.4	)		(4.1	)		23.6
Deposits at amortised cost		81.8			—			(62.3	)		(1.1	)		18.3
Risk weighted assets		38.9			(1.1	)		(7.8	)		(6.2	)		23.9
Period end allocated tangible equity		5.4												3.3

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2021 Barclays US Consumer Bank

				Moves to
	Consumer, Cards and Payments as published			Barclays UK Corporate Bank			Barclays Private Bank and Wealth Management			Head Office			Barclays US Consumer Bank

Income statement information	£m			£m			£m			£m			£m
Net interest income		1,912			(19	)		(505	)		(263	)		1,125
Net fee, commission, trading and other income		1,419			(135	)		(276	)		(314	)		694
Total income		3,331			(154	)		(781	)		(577	)		1,819
Operating costs		(2,258	)		133			534			505			(1,087	)
UK bank levy		(6	)		1			4			1			—
Litigation and conduct		(108	)		—			(1	)		105			(4	)
Total operating expenses		(2,372	)		134			537			611			(1,091	)
Other net income		38			—			—			(38	)		—
Profit before impairment		997			(20	)		(244	)		(4	)		728
Credit impairment charges		(185	)		(6	)		(9	)		(11	)		(211	)
Profit before tax		812			(26	)		(253	)		(15	)		517
Attributable profit		615			(15	)		(207	)		(14	)		379

Performance measures
Return on average allocated tangible equity		15.0	%											17.2	%
Average allocated tangible equity (£bn)		4.1												2.2
Cost: income ratio		71	%											60	%
Loan loss rate (bps)		51												116
Net interest margin		6.21	%											7.63	%

Balance sheet information		£bn			£bn			£bn			£bn			£bn
Loans and advances to customers at amortised cost		33.0			(0.8	)		(13.0	)		(3.4	)		15.8
Deposits at amortised cost		69.4			—			(54.1	)		(0.8	)		14.5
Risk weighted assets		30.2			(0.9	)		(6.7	)		(5.5	)		17.1
Period end allocated tangible equity		4.2												2.3

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2023 Head Office

				Moves from
	Head Office as published			Consumer Cards and Payments			Head Office

Income statement information	£m			£m			£m
Net interest income		81			272			353
Net fee, commission and other income		(208	)		365			157
Total income		(127	)		637			510
Operating costs		(743	)		(609	)		(1,352	)
UK bank levy		(14	)		—			(14	)
Litigation and conduct		2			(50	)		(48	)
Total operating expenses		(755	)		(659	)		(1,414	)
Other net expenses		(7	)		1			(6	)
Loss before impairment		(889	)		(21	)		(910	)
Credit impairment charges		(29	)		(31	)		(60	)
Loss before tax		(918	)		(51	)		(970	)
Attributable loss		(713	)		(61	)		(774	)

Performance measures
Average allocated tangible equity (£bn)		0.2						1.1

Performance measures excluding Q423 structural cost actions
Q423 structural cost actions (£m)		(453	)		(62	)		(515	)

Balance sheet information		£bn			£bn			£bn
Risk weighted assets		10.2			8.9			19.0
Period end allocated tangible equity		2.3						3.6

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2022 Head Office

				Moves from
	Head Office as published			Consumer Cards and Payments			Head Office

Income statement information	£m			£m			£m
Net interest income		(248	)		272			24
Net fee, commission and other income		78			361			440
Total income		(170	)		633			464
Operating costs		(336	)		(525	)		(860	)
UK bank levy		(17	)		(1	)		(20	)
Litigation and conduct		(53	)		(312	)		(364	)
Total operating expenses		(406	)		(838	)		(1,244	)
Other net (expenses)/income		(22	)		26			4
Loss before impairment		(598	)		(179	)		(776	)
Credit impairment charges		(1	)		(123	)		(124	)
Loss before tax		(599	)		(302	)		(900	)
Attributable loss		(698	)		(252	)		(949	)

Performance measures
Average allocated tangible equity (£bn)		0.7						1.6

Balance sheet information		£bn			£bn			£bn
Risk weighted assets		8.6			6.2			14.7
Period end allocated tangible equity		(0.2	)					0.7

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Resegmentation Bridges

2021 Head Office

				Moves from
	Head Office as published			Consumer Cards and Payments			Head Office
Income statement information	£m			£m			£m
Net interest income		(392	)		263			(129	)
Net fee, commission and other income		131			314			445
Total income		(261	)		577			316
Operating costs		(659	)		(505	)		(1,165	)
UK bank levy		—			(1	)		(1	)
Litigation and conduct		(15	)		(105	)		(120	)
Total operating expenses		(674	)		(611	)		(1,286	)
Other net income		220			38			258
Loss before impairment		(715	)		4			(712	)
Credit impairment releases		—			11			11
Loss before tax		(715	)		15			(701	)
Attributable loss		(198	)		14			(184	)

Performance measures
Average allocated tangible equity (£bn)		5.0						5.8

Balance sheet information		£bn			£bn			£bn
Risk weighted assets		11.0			5.5			16.4
Period end allocated tangible equity		5.5						6.3

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Appendix: Non-IFRS Performance Measures

The Group’s management believes that the non-IFRS performance measures included in this document provide valuable information to the readers of the financial statements, as they enable the reader to identify a more consistent basis for comparing the businesses’ performance between financial periods, and provide more detail concerning the elements of performance which the managers of these businesses are most directly able to influence or are relevant for an assessment of the Group. They also reflect an important aspect of the way in which operating targets are defined and performance is monitored by management.

However, any non-IFRS performance measures in this document are not a substitute for IFRS measures and readers should consider the IFRS measures as well.

Non-IFRS performance measures glossary

Measure	Definition
Loan: deposit ratio	Total loans and advances at amortised cost divided by total deposits at amortised cost.
Attributable profit	Profit after tax attributable to ordinary shareholders of the parent.
Period end tangible equity refers to:
Period end tangible shareholders’ equity (for Barclays Group)	Shareholders' equity attributable to ordinary shareholders of the parent, adjusted for the deduction of intangible assets and goodwill.
Period end allocated tangible equity (for businesses)	Allocated tangible equity is calculated as 13.5% (2022: 13.5%, 2021: 13.5%) of RWAs for each business, adjusted for capital deductions, excluding goodwill and intangible assets, reflecting the assumptions the Barclays Group uses for capital planning purposes. Head Office allocated tangible equity represents the difference between the Barclays Group’s tangible shareholders’ equity and the amounts allocated to businesses.
Average tangible equity refers to:
Average tangible shareholders’ equity (for Barclays Group)	Calculated as the average of the previous month’s period end tangible shareholders' equity and the current month’s period end tangible shareholders' equity. The average tangible shareholders’ equity for the period is the average of the monthly averages within that period.
Average allocated tangible equity (for businesses)	Calculated as the average of the previous month’s period end allocated tangible equity and the current month’s period end allocated tangible equity. The average allocated tangible equity for the period is the average of the monthly averages within that period.
Return on tangible equity (RoTE) refers to:
Return on average tangible shareholders’ equity (for Barclays Group)	Group attributable profit, as a proportion of average tangible shareholders’ equity. The components of the calculation have been included on pages 39 to 40.
Return on average allocated tangible equity (for businesses)	Business attributable profit, as a proportion of that business's average allocated tangible equity. The components of the calculation have been included on pages 39 to 41.
Operating expenses excluding litigation and conduct	A measure of total operating expenses excluding litigation and conduct charges.
Operating costs	A measure of total operating expenses excluding litigation and conduct charges and UK bank levy.
Cost: income ratio	Total operating expenses divided by total income.
Loan loss rate	Quoted in basis points and represents total impairment charges divided by total gross loans and advances held at amortised cost at the balance sheet date.
Net interest margin	Net interest income divided by the sum of average customer assets. The components of the calculation have been included on page 42 for Barclays UK and Barclays US Consumer Bank.
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 as part of the Non-IFRS performance measures within the Financial review section of the Barclays PLC Annual Report 2023.
Profit before impairment	Calculated by excluding credit impairment charges or releases from profit before tax.
Structural cost actions	Cost actions taken to improve future financial performance.
Performance measures excluding the impact of Q423 structural cost actions	Calculated by excluding the impact of Q423 structural cost actions from performance measures. The components of the calculations for Barclays Group and businesses have been included on pages 43 to 44.
Performance measures excluding the impact of the Over-issuance of Securities1	Calculated by excluding the impact of the Over-issuance of Securities from performance measures. The components of the calculations for Barclays Group and businesses have been included on pages 44.

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.

Barclays PLC - 2023, 2022 & 2021
Results Resegmentation Document

Appendix: Non-IFRS Performance Measures

Returns

	Year ended 31.12.23
		Barclays UK		Barclays UK Corporate Bank		Barclays Private Bank and Wealth Management		Barclays Investment Bank		Barclays US Consumer Bank		Head Office		Barclays Group
Return on average tangible equity		£m		£m		£m		£m		£m		£m		£m
Attributable profit/(loss)		1,962		584		330		2,041		131		(774	)	4,274

		£bn		£bn		£bn		£bn		£bn		£bn		£bn
Average equity		14.0		2.9		1.1		29.0		3.8		5.0		55.8
Average goodwill and intangibles		(3.8	)	—		(0.1	)	—		(0.6	)	(3.9	)	(8.4	)
Average tangible equity		10.2		2.9		1.0		29.0		3.2		1.1		47.4

Return on average tangible equity		19.2	%	20.5	%	32.7	%	7.0	%	4.1	%	n/m		9.0	%

	Year ended 31.12.22
	Barclays UK			Barclays UK Corporate Bank			Barclays Private Bank and Wealth Management			Barclays Investment Bank			Barclays US Consumer Bank			Head Office			Barclays Group
Return on average tangible equity	£m			£m			£m			£m			£m			£m			£m
Attributable profit/(loss)		1,877			563			370			2,806			356			(949	)		5,023

		£bn			£bn			£bn			£bn			£bn			£bn			£bn
Average equity		13.6			2.9			1.1			30.0			3.6			5.2			56.4
Average goodwill and intangibles		(3.6	)		—			(0.1	)		—			(0.8	)		(3.6	)		(8.1	)
Average tangible equity		10.0			2.9			1.0			30.0			2.8			1.6			48.3

Return on average tangible equity		18.7	%		19.2	%		36.3	%		9.3	%		12.7	%		n/m			10.4	%

	Year ended 31.12.21
	Barclays UK			Barclays UK Corporate Bank			Barclays Private Bank and Wealth Management			Barclays Investment Bank			Barclays US Consumer Bank			Head Office			Barclays Group
Return on average tangible equity	£m			£m			£m			£m			£m			£m			£m
Attributable profit/(loss)		1,756			446			207			3,601			379			(184	)		6,205

		£bn			£bn			£bn			£bn			£bn			£bn			£bn
Average equity		13.6			3.2			1.0			25.2			2.8			9.6			55.4
Average goodwill and intangibles		(3.6	)		—			(0.1	)		—			(0.6	)		(3.8	)		(8.1	)
Average tangible equity		10.0			3.2			0.9			25.2			2.2			5.8			47.3

Return on average tangible equity		17.6	%		13.9	%		22.5	%		14.3	%		17.2	%		n/m			13.1	%

Barclays PLC - 2023, 2022 & 2021
Results Resegmentation Document

Appendix: Non-IFRS Performance Measures

Barclays Group
Return on average tangible shareholders' equity	Q423		Q323		Q223		Q123		Q422		Q322		Q222		Q122
	£m		£m		£m		£m		£m		£m		£m		£m
Attributable (loss)/profit	(111	)	1,274		1,328		1,783		1,036		1,512		1,071		1,404

	£bn		£bn		£bn		£bn		£bn		£bn		£bn		£bn
Average shareholders' equity	57.1		55.1		55.4		55.9		54.9		56.8		57.1		56.9
Average goodwill and intangibles	(8.2	)	(8.6	)	(8.7	)	(8.3	)	(8.2	)	(8.2	)	(8.1	)	(8.1	)
Average tangible shareholders' equity	48.9		46.5		46.7		47.6		46.7		48.6		49.0		48.8

Return on average tangible shareholders' equity	(0.9	)%	11.0	%	11.4	%	15.0	%	8.9	%	12.5	%	8.7	%	11.5	%


Barclays UK
Return on average allocated tangible equity	Q423		Q323		Q223		Q123		Q422		Q322		Q222		Q122
	£m		£m		£m		£m		£m		£m		£m		£m
Attributable profit	382		531		534		515		474		549		458		396

	£bn		£bn		£bn		£bn		£bn		£bn		£bn		£bn
Average allocated equity	14.1		14.0		14.2		13.9		13.7		13.5		13.6		13.7
Average goodwill and intangibles	(3.9	)	(3.9	)	(4.0	)	(3.6	)	(3.5	)	(3.6	)	(3.6	)	(3.6	)
Average allocated tangible equity	10.2		10.1		10.2		10.3		10.2		9.9		10.0		10.1

Return on average allocated tangible equity	14.9	%	21.0	%	20.9	%	20.0	%	18.7	%	22.1	%	18.4	%	15.6	%


Barclays UK Corporate Bank
Return on average allocated tangible equity	Q423		Q323		Q223		Q123		Q422		Q322		Q222		Q122
	£m		£m		£m		£m		£m		£m		£m		£m
Attributable profit	59		129		239		157		131		172		166		94

	£bn		£bn		£bn		£bn		£bn		£bn		£bn		£bn
Average allocated equity	2.8		2.8		2.9		2.9		2.9		2.9		3.0		2.9
Average goodwill and intangibles	—		—		—		—		—		—		—		—
Average allocated tangible equity	2.8		2.8		2.9		2.9		2.9		2.9		3.0		2.9

Return on average allocated tangible equity	8.4	%	18.3	%	32.9	%	21.7	%	17.8	%	23.4	%	22.3	%	13.1	%


Barclays Private Bank and Wealth Management
Return on average allocated tangible equity	Q423		Q323		Q223		Q123		Q422		Q322		Q222		Q122
	£m		£m		£m		£m		£m		£m		£m		£m
Attributable profit	47		102		91		90		92		108		85		85

	£bn		£bn		£bn		£bn		£bn		£bn		£bn		£bn
Average allocated equity	1.1		1.1		1.1		1.1		1.2		1.1		1.1		1.1
Average goodwill and intangibles	(0.1	)	(0.1	)	(0.1	)	(0.1	)	(0.1	)	(0.1	)	(0.1	)	(0.1	)
Average allocated tangible equity	1.0		1.0		1.0		1.0		1.1		1.0		1.0		1.0

Return on average allocated tangible equity	19.1	%	41.2	%	35.9	%	34.5	%	34.9	%	41.7	%	33.5	%	34.8	%

Barclays PLC - 2023, 2022 & 2021
Results Resegmentation Document

Appendix: Non-IFRS Performance Measures

Barclays Investment Bank
Return on average allocated tangible equity	Q423		Q323		Q223		Q123		Q422		Q322		Q222		Q122
	£m		£m		£m		£m		£m		£m		£m		£m
Attributable (loss)/profit	(149	)	580		562		1,048		313		847		418		1,228

	£bn		£bn		£bn		£bn		£bn		£bn		£bn		£bn
Average allocated equity	28.9		28.8		29.0		29.1		30.9		31.2		29.9		28.1
Average goodwill and intangibles	—		—		—		—		—		—		—		—
Average allocated tangible equity	28.9		28.8		29.0		29.1		30.9		31.2		29.9		28.1

Return on average allocated tangible equity	(2.1	)%	8.0	%	7.7	%	14.4	%	4.0	%	10.9	%	5.6	%	17.5	%

Barclays US Consumer Bank
Return on average allocated tangible equity	Q423		Q323		Q223		Q123		Q422		Q322		Q222		Q122
	£m		£m		£m		£m		£m		£m		£m		£m
Attributable (loss)/profit	(3	)	3		72		59		101		107		118		30

	£bn		£bn		£bn		£bn		£bn		£bn		£bn		£bn
Average allocated equity	3.6		3.8		3.9		3.9		4.1		4.0		3.4		3.1
Average goodwill and intangibles	(0.3	)	(0.7	)	(0.8	)	(0.8	)	(0.9	)	(0.9	)	(0.8	)	(0.7	)
Average allocated tangible equity	3.3		3.1		3.1		3.1		3.2		3.1		2.6		2.4

Return on average allocated tangible equity	(0.3	)%	0.4	%	9.3	%	7.5	%	12.6	%	13.9	%	18.2	%	5.3	%

The non-IFRS return on average allocated tangible equity reconciliations for CIB and CC&P are included as part of the Non-IFRS performance measures within the Financial review section of Barclays PLC Annual Report 2023.

Barclays PLC - 2023, 2022 & 2021
Results Resegmentation Document

Appendix: Non-IFRS Performance Measures

Margins and Balances

Barclays UK	FY23		FY22		FY21
Net interest income (£m)	6,431		5,893		5,202
Average customer assets (£m)	205,667		205,972		206,628
Net interest margin	3.13	%	2.86	%	2.52	%

Barclays US Consumer Bank	FY23		FY22		FY21
Net interest income (£m)	2,604		1,972		1,125
Average customer assets (£m)	23,999		20,360		14,734
Net interest margin	10.85	%	9.69	%	7.63	%

Quarterly Analysis

Barclays UK	Q423		Q323		Q223		Q123		Q422		Q322		Q222		Q122
Net interest income (£m)	1,575		1,578		1,660		1,618		1,600		1,561		1,393		1,339
Average customer assets (£m)	203,646		205,693		207,073		206,241		204,941		205,881		205,834		207,607
Net interest margin	3.07	%	3.04	%	3.22	%	3.18	%	3.10	%	3.01	%	2.71	%	2.62	%

Barclays US Consumer Bank	Q423		Q323		Q223		Q123		Q422		Q322		Q222		Q122
Net interest income (£m)	686		662		622		634		639		616		389		328
Average customer assets (£m)	25,012		24,128		23,404		23,451		23,799		22,624		18,612		16,404
Net interest margin	10.88	%	10.88	%	10.66	%	10.97	%	10.64	%	10.81	%	8.37	%	8.12	%

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Appendix: Non-IFRS Performance Measures

Performance measures excluding the impact of Q423 structural cost actions

	Year ended 31.12.23
		Barclays UK		Barclays UK Corporate Bank		Barclays Private Bank and Wealth Management		Barclays Investment Bank		Barclays US Consumer Bank		Head Office		Barclays Group
		£m		£m		£m		£m		£m		£m		£m
Total operating expenses		(4,415	)	(912	)	(797	)	(7,737	)	(1,656	)	(1,414	)	(16,931	)
Q423 structural cost actions		(168	)	(27	)	(29	)	(169	)	(19	)	(515	)	(927	)
Total operating expenses excluding Q423 structural cost actions		(4,247	)	(885	)	(768	)	(7,568	)	(1,637	)	(899	)	(16,004	)

Total income		7,587		1,770		1,208		11,035		3,268		510		25,378

Cost: income ratio excluding Q423 structural cost actions		56	%	50	%	64	%	69	%	50	%	n/m		63	%

Attributable profit/(loss)		1,962		584		330		2,041		131		(774	)	4,274
Post-tax impact of Q423 structural cost actions		(122	)	(20	)	(24	)	(126	)	(14	)	(433	)	(739	)
Attributable profit/(loss) excluding the impact of Q423 structural cost actions		2,084		604		354		2,167		145		(341	)	5,013

Average tangible equity (£bn)		10.2		2.9		1.0		29.0		3.2		1.1		47.4

Return on average tangible equity excluding Q423 structural cost actions		20.4	%	21.2	%	35.1	%	7.5	%	4.6	%	n/m		10.6	%

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document

Appendix: Non-IFRS Performance Measures

Performance measures excluding the impact of Q423 structural cost actions (continued)

	Three months ended 31.12.23
		Barclays UK		Barclays UK Corporate Bank		Barclays Private Bank and Wealth Management		Barclays Investment Bank		Barclays US Consumer Bank		Head Office		Barclays Group
		£m		£m		£m		£m		£m		£m		£m
Total operating expenses		(1,187	)	(267	)	(257	)	(2,059	)	(420	)	(730	)	(4,920	)
Q423 structural cost actions		(168	)	(27	)	(29	)	(169	)	(19	)	(515	)	(927	)
Total operating expenses excluding Q423 structural cost actions		(1,019	)	(240	)	(228	)	(1,890	)	(401	)	(215	)	(3,993	)

Total income		1,792		395		313		2,037		866		195		5,598

Cost: income ratio excluding Q423 structural cost actions		57	%	61	%	73	%	93	%	46	%	n/m		71	%

Attributable profit/(loss)		382		59		47		(149	)	(3	)	(447	)	(111	)
Post-tax impact of Q423 structural cost actions		(122	)	(20	)	(24	)	(126	)	(14	)	(433	)	(739	)
Attributable profit/(loss) excluding the impact of Q423 structural cost actions		504		79		71		(23	)	11		(14	)	628

Average tangible equity (£bn)		10.2		2.8		1.0		28.9		3.3		2.7		48.9

Return on average tangible equity excluding Q423 structural cost actions		19.7	%	11.3	%	28.9	%	(0.3	)%	1.4	%	n/m		5.1	%

Reconciliation of total income excluding Over-issuance of securities in 2022

Year ended	31.12.23	31.12.22
	Statutory	Statutory	Impact of the Over-issuance of Securities	Excluding impact of the Over-issuance of Securities
	£m	£m	£m	£m	% change
Income
Barclays Investment Bank	11,035	11,923	292	11,631	(5)
of which:
FICC	4,845	5,695	—	5,695	(15)
Equities	2,373	3,149	292	2,857	(17)
Global Markets	7,218	8,844	292	8,552	(16)

Barclays PLC - 2023, 2022 & 2021

Results Resegmentation Document