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Name | Symbol | Market | Type |
---|---|---|---|
Barclays PLC | NYSE:BCS | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.08 | -0.78% | 10.17 | 10.295 | 10.155 | 10.19 | 21,807,125 | 01:00:00 |
|
BARCLAYS
PLC
|
|
(Registrant)
|
|
By: /s/
Garth Wright
--------------------------------
|
|
Garth
Wright
|
|
Assistant
Secretary
|
|
●
|
The
Group delivered a Q319 return on average tangible equity (RoTE) of
10.2%, resulting in a Q319 YTD RoTE of 9.7%1
|
●
|
The
Group continues to target a >9% RoTE for 2019 and >10% for
20201.
However, given global macroeconomic uncertainty and the current low
interest rate environment, it has become more challenging to
achieve these targets, particularly with respect to
2020
|
●
|
Continuing
to improve returns on a sustainable basis remains a key priority
for the Group, whilst also delivering attractive capital returns to
shareholders and investing in key business growth
initiatives
|
●
|
The
strengthening of the USD/GBP foreign exchange rate in the third
quarter, whilst increasing costs and impairment, provided a greater
benefit to income and profits
|
Returns1
Group RoTE targets
of >9% in 2019 and >10% in 2020
|
●
|
Group
profit before tax of £4.9bn (Q318 YTD: £5.3bn) and
earnings per share (EPS) of 19.7p (Q318 YTD: 21.6p)
|
|
●
|
Group
Q319 YTD RoTE of 9.7% (Q318 YTD: 11.1%)
|
||
-
Barclays UK RoTE of
17.2% (Q318 YTD: 18.9%)
|
|
||
-
Barclays
International RoTE of 10.4% (Q318 YTD: 11.6%), with a Corporate and
Investment Bank (CIB) RoTE of 9.3% (Q318 YTD: 9.7%) and Consumer,
Cards and Payments (CC&P) RoTE of 15.8% (Q318 YTD:
21.7%)
|
|
||
Cost efficiency
Cost: income ratio
of <60% over time
|
●
|
Group
operating expenses were stable at £10.1bn, resulting in a
cost: income ratio of 62%1 (Q318 YTD: 62%) and
positive jaws, reflecting cost efficiencies offset by continued
investment in the business
|
|
●
|
Cost
control remains a priority given the challenging income environment
experienced in the first three quarters of the year
|
||
●
|
Group
cost guidance unchanged; management expects to reduce 2019 costs
below £13.6bn2
|
||
Capital and dividends
CET1 ratio target becomes c.13.5% following
discussions with
regulators on
operational risk
change
|
●
|
Common
equity tier 1 (CET1) ratio of 13.4% (December 2018:
13.2%)
|
|
●
|
Following
discussions with regulators, the Group has removed the operational
risk Risk Weighted Assets (RWAs) floor which it had previously
applied, resulting in a £14.2bn reduction in total RWAs. This
increased the CET1 ratio by c.60bps. As a result, the target CET1
ratio has been revised to c.13.5%. The total capital requirement
for operational risk remains unchanged
|
||
●
|
The
Group paid a half year dividend of 3p which is expected to
represent, under normal circumstances, around one-third of the
total dividend for the year
|
●
|
Group profit before tax was £3.3bn (Q318 YTD: £3.1bn)
and, excluding litigation and conduct, was £4.9bn (Q318 YTD:
£5.3bn). The cost: income ratio was 62% (Q318 YTD:
62%), with Barclays International income up 4%. Credit impairment
charges increased to £1.4bn (Q318 YTD: £0.8bn), due to
the non-recurrence of favourable US macroeconomic scenario updates
and single name recoveries in Q318 YTD. Credit metrics remained
stable across both secured and unsecured lending
|
●
|
Barclays UK profit before tax was £0.4bn (Q318 YTD:
£1.6bn). This included an additional provision for
Payment Protection Insurance (PPI) of £1.4bn (Q318 YTD:
£0.4bn). Excluding litigation and conduct, profit before tax
was £1.9bn (Q318 YTD: £2.0bn). Income declined 2%, as
ongoing margin pressure was partially offset by continued growth in
mortgages and deposits. Operating expenses were stable as cost
efficiency savings were offset by planned digital investment and
inflation
|
●
|
Barclays International profit before tax was £3.5bn (Q318 YTD:
£3.6bn) driven by 4% increases in both CIB and CC&P
income. Operating expenses increased 1% due to continued investment
in the business. Credit impairment charges increased from
£0.3bn to £0.8bn, due to the non-recurrence of favourable
US macroeconomic scenario updates and single name recoveries in
Q318 YTD
|
●
|
Tangible net asset value (TNAV) per share was 274p (December 2018:
262p) as 10.4p of statutory EPS (which included the effect
of the additional provision for PPI of 8p per share in Q319) and
positive net reserve movements, were partially offset by dividend
payments totalling 7p per share
|
1
|
Excluding litigation and conduct, with returns targets based on a
Group CET1 ratio of c.13.5%.
|
2
|
Excluding litigation and conduct, calculated using a USD/GBP FX
rate of 1.27 and subject to foreign currency
movements.
|
Barclays Group results
|
|
||
for the nine months ended
|
30.09.19
|
30.09.18
|
|
|
£m
|
£m
|
% Change
|
Total income
|
16,331
|
16,063
|
2
|
Credit impairment charges and other provisions
|
(1,389)
|
(825)
|
(68)
|
Net operating income
|
14,942
|
15,238
|
(2)
|
Operating expenses
|
(10,051)
|
(10,003)
|
-
|
Litigation and conduct
|
(1,682)
|
(2,147)
|
22
|
Total operating expenses
|
(11,733)
|
(12,150)
|
3
|
Other net income
|
51
|
32
|
59
|
Profit before tax
|
3,260
|
3,120
|
4
|
Tax charge1
|
(814)
|
(836)
|
3
|
Profit after tax
|
2,446
|
2,284
|
7
|
Non-controlling interests
|
(38)
|
(151)
|
75
|
Other equity instrument holders
|
(628)
|
(522)
|
(20)
|
Attributable profit
|
1,780
|
1,611
|
10
|
|
|
|
|
Performance measures
|
|
|
|
Return on average tangible shareholders' equity
|
5.1%
|
4.9%
|
|
Average tangible shareholders' equity (£bn)
|
46.6
|
44.1
|
|
Cost: income ratio
|
72%
|
76%
|
|
Loan loss rate (bps)
|
53
|
33
|
|
Basic earnings per share
|
10.4p
|
9.4p
|
|
Dividend per share
|
3.0p
|
2.5p
|
|
|
|
|
|
Performance
measures excluding litigation and conduct2
|
|
|
|
Profit before tax
|
4,942
|
5,267
|
(6)
|
Attributable profit
|
3,391
|
3,685
|
(8)
|
Return on average tangible shareholders' equity
|
9.7%
|
11.1%
|
|
Cost: income ratio
|
62%
|
62%
|
|
Basic earnings per share
|
19.7p
|
21.6p
|
|
|
|
|
|
|
As at 30.09.19
|
As at 31.12.18
|
As at 30.09.18
|
Balance sheet and capital
management3
|
£bn
|
£bn
|
£bn
|
Tangible net asset value per share
|
274p
|
262p
|
260p
|
Common equity tier 1 ratio
|
13.4%
|
13.2%
|
13.2%
|
Common equity tier 1 capital
|
41.9
|
41.1
|
41.7
|
Risk weighted assets
|
313.3
|
311.9
|
316.2
|
Average UK leverage ratio
|
4.6%
|
4.5%
|
4.6%
|
UK leverage ratio
|
4.8%
|
5.1%
|
4.9%
|
|
|
|
|
Funding and liquidity
|
|
|
|
Group liquidity pool (£bn)
|
226
|
227
|
213
|
Liquidity coverage ratio
|
151%
|
169%
|
161%
|
Loan: deposit ratio
|
82%
|
83%
|
83%
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to Additional Tier 1 (AT1) instruments has been recognised
in the tax charge of the income statement, whereas it was
previously recorded in retained earnings. Comparatives have been
restated, reducing the tax charge for Q318 year to date by
£141m. This change does not impact EPS or return on average
tangible shareholders’ equity.
|
2
|
Refer to pages 36 to 45 for further information and calculations of
performance measures excluding litigation and conduct.
|
3
|
Capital, RWAs and leverage measures are calculated applying the
transitional arrangements of the Capital Requirements Regulation
(CRR) as amended by the Capital Requirements Regulation II (CRR II)
applicable as at the reporting date. This includes IFRS 9
transitional arrangements. For more information on the
implementation of CRR II see page 25.
|
4
|
The fully loaded CET1 ratio was 13.0%, with £40.7bn of CET1
capital and £313.1bn of RWAs, calculated without applying the
transitional arrangements of the CRR as amended by CRR II
applicable as at the reporting date.
|
●
|
Profit
before tax was £3,260m (Q318 YTD: £3,120m), including an
additional provision for PPI of £1,400m (Q318 YTD: £400m)
in Q319. Excluding litigation and conduct, profit before tax was
£4,942m (Q318 YTD: £5,267m), with higher income and
stable operating expenses offset by increased credit impairment
charges. The 6% appreciation of average USD against GBP positively
impacted income and profits and adversely impacted credit
impairment charges and operating expenses
|
●
|
Total
income increased 2% to £16,331m. Barclays UK income decreased
2% as ongoing margin pressure and continued reduced risk appetite
in UK cards were partially offset by mortgage and deposit balance
growth. Barclays International income was up 4%, across both CIB
and CC&P. The higher CIB income was due to positive performance
in FICC, Banking fees and Transaction banking, partially offset by
reduced client activity in Equities and a reduction in Corporate
lending. The higher CC&P income reflected balance growth in US
cards and partnership growth in merchant acquiring
|
●
|
Credit
impairment charges increased to £1,389m (Q318 YTD:
£825m). Economic scenarios were updated in Q319, as part of a
review which is conducted at least annually. The prior year
benefitted from favourable US macroeconomic scenario updates and
single name recoveries, whilst Q319 impairment reflects a
c.£60m net charge from revised scenarios, impacting primarily
the Group’s UK and US cards portfolios. Credit metrics
remained stable across both secured and unsecured lending,
reflecting the continued prudent management of credit
risk
|
●
|
Operating
expenses were stable at £10,051m, as cost efficiencies were
offset by continued investment in the business. The cost: income
ratio, excluding litigation and conduct, was stable at 62% (Q318
YTD: 62%)
|
●
|
The
effective tax rate was 25.0%. Excluding litigation and conduct, the
underlying effective tax rate was 17.9%
|
●
|
Attributable
profit was £1,780m (Q318 YTD: £1,611m). Excluding
litigation and conduct, attributable profit was £3,391m (Q318
YTD: £3,685m), generating a RoTE of 9.7% (Q318 YTD: 11.1%) and
EPS of 19.7p (Q318 YTD: 21.6p)
|
Profit
before tax, excluding litigation and conduct, decreased 7% to
£1,899m. RoTE was robust at 17.2% (Q318 YTD: 18.9%),
reflecting the resilience of the Barclays UK business in a
challenging income environment. Including litigation and conduct
charges of £1,524m (Q318 YTD: £468m), profit before tax
was £375m (Q318 YTD: £1,566m)
|
||
●
|
Total
income decreased 2% to £5,394m due to a 2% decrease in net
interest income to £4,410m
|
|
|
-
|
Personal
Banking income decreased 2% to £2,945m, reflecting ongoing
mortgage margin pressure, partially offset by mortgage and deposit
balance growth and improved liability margins
|
|
-
|
Barclaycard
Consumer UK income decreased 8% to £1,459m reflecting a
continued reduced risk appetite and reduced borrowing by customers,
which resulted in a lower level of interest earning lending (IEL)
balances
|
|
-
|
Business
Banking income increased 6% to £990m driven by deposit and
lending growth, improved liability margins and the non-recurrence
of client remediation in Q318 YTD
|
|
-
|
Net
interest margin decreased 14bps to 3.10%, reflecting increased
refinancing activity by mortgage customers, lower IEL balances in
UK cards, and the mix effect from growth in secured
lending
|
●
|
Credit
impairment charges decreased 2% to £522m, primarily reflecting
an improved risk profile in UK cards and releases of single name
exposures in Business Banking, partially offset by the impact of UK
macroeconomic scenario updates of c.£30m, primarily impacting
the UK cards portfolio. The 30 and 90 day arrears rates in UK cards
decreased to 1.7% (Q318: 1.8%) and 0.8% (Q318: 0.9%)
respectively
|
|
●
|
Operating
expenses were stable at £2,973m (Q318 YTD: £2,961m) as
cost efficiencies were offset by planned digital investment in the
business and inflation. The cost: income ratio, excluding
litigation and conduct, was 55% (Q318 YTD: 54%)
|
|
●
|
RWAs
increased to £76.8bn (December 2018: £75.2bn) including
the recognition of property leases following the implementation of
IFRS 16, growth in Mortgages and Business Banking and a change in
the mix of assets in the liquidity pool
|
●
|
Profit
before tax, excluding litigation and conduct, decreased 4% to
£3,508m with a RoTE of 10.4% (Q318 YTD: 11.6%), reflecting
returns in the CIB of 9.3% (Q318 YTD: 9.7%) and CC&P of 15.8%
(Q318 YTD: 21.7%)
|
||
●
|
The 6%
appreciation of average USD against GBP positively impacted income
and profits, and adversely impacted credit impairment charges and
operating expenses
|
||
●
|
Total
income increased to £11,223m (Q318 YTD:
£10,805m)
|
||
|
-
|
CIB
income increased 4% to £7,917m
|
|
|
|
−
|
Within
Markets, FICC income increased 15% to £2,638m reflecting a
strong performance in rates and growth in securitised products.
Equities income decreased 11% to £1,478m driven by equity
derivatives, which were impacted by reduced client activity.
Included in Markets was a £126m gain related to the Tradeweb
position and a net loss of £40m due to the impact of treasury
operations and hedging counterparty risk
|
|
|
−
|
Banking
fees income increased 3% to £1,955m driven by an increase in
advisory fees, partially offset by lower debt underwriting fees
reflecting a reduced Banking fee pool1. However, Barclays
share of the global Banking fee pool has increased since FY18, to
4.4%1
|
|
|
−
|
Within
Corporate, Transaction banking income increased 6% to £1,283m
reflecting growth in deposits. This was offset by a decrease in
Corporate lending income to £563m (Q318 YTD: £635m).
Excluding mark-to-market movements on loan hedges, Corporate
lending income was broadly stable
|
|
-
|
CC&P
income increased 4% to £3,306m reflecting balance growth in
the US cards business and partnership growth in merchant
acquiring
|
|
●
|
Credit
impairment charges increased to £844m (Q318 YTD:
£304m)
|
||
|
-
|
CIB
credit impairment charges increased to £127m (Q318 YTD:
release of £185m) due to the non-recurrence of favourable
macroeconomic scenario updates and single name recoveries in Q318
YTD
|
|
|
-
|
CC&P
credit impairment charges increased to £717m (Q318 YTD:
£489m) due to the non-recurrence of favourable US
macroeconomic scenario updates in Q318 YTD. Q319 included the
impact of macroeconomic scenario updates, predominantly in the US,
of c.£30m. Credit metrics decreased, with US cards 30 and 90
day arrears of 2.6% (Q318: 2.7%) and 1.3% (Q318: 1.4%)
respectively
|
|
●
|
Operating
expenses increased 1% to £6,923m
|
||
|
-
|
CIB
operating expenses decreased 1% to £5,191m as cost
efficiencies were partially offset by continued investment in the
business
|
|
|
-
|
CC&P
operating expenses increased 7% to £1,732m driven by continued
investment across the businesses
|
|
●
|
RWAs
increased to £223.1bn (December 2018: £210.7bn), driven
by an increase in CIB activity and appreciation of USD against
GBP
|
●
|
Loss
before tax of £593m (Q318 YTD: £2,006m), included
litigation and conduct charges of £128m (Q318 YTD:
£1,585m), reflecting the non-recurrence of the Residential
Mortgage Backed Securities settlement in Q318 YTD
|
●
|
Total
income was an expense of £286m (Q318 YTD: £262m) which
included legacy capital instrument funding costs, treasury items
and hedge accounting expenses, partially offset by the recognition
of dividends on Barclays stake in Absa Group Limited. Income
expense increased reflecting the non-recurrence of a £155m
one-off gain from the settlement of receivables relating to the
Lehman Brothers acquisition in Q318 YTD, partially offset by lower
net expenses from treasury operations and hedge
accounting
|
●
|
Operating
expenses, excluding litigation and conduct, were £155m (Q318
YTD: £159m)
|
●
|
RWAs
decreased to £13.4bn (December 2018: £26.0bn) mainly
driven by the removal of the Group’s operational risk
RWAs
floor, partially offset by the recognition of property leases
following the implementation of IFRS 16
|
1
|
Data Source: Dealogic, for the period covering 1 January to 30
September 2019.
|
●
|
The Group’s CET1 ratio increased to 13.4% (December 2018:
13.2%). The increase was primarily driven by a reduction in the
Group’s RWAs due to the removal of the operational risk floor
effective from 30 September 2019
|
||
|
|
-
|
CET1 capital increased by £0.8bn to £41.9bn. This was
driven by underlying profit generation of £4.0bn partially
offset by dividends paid and foreseen of £1.8bn, the
additional provision for PPI of £1.4bn, pension deficit
reduction contribution payments of £0.5bn and a loss on the
redemption of Additional Tier 1 (AT1) securities of
£0.4bn
|
|
|
-
|
RWAs increased by £1.4bn to £313.3bn primarily driven by
an increase in CIB, offset by the reduction in the Group’s
operational risk RWAs
|
●
|
The Group previously applied a floor to its Pillar 1 capital
requirements for operational risk, which was set by reference to
the Group’s total operational risk RWAs as at 31 December
2017 of £56.7bn. Following discussions with regulators, the
Group has removed this floor with effect from 30 September 2019,
thereby reducing RWAs by £14.2bn and increasing the
Group’s CET1 ratio by c.60bps
|
||
●
|
Following the removal of the Pillar 1 operational risk floor, the
Group has received a new Pillar 2A requirement (as per the
Prudential Regulation Authority’s (PRA’s) Individual
Capital Requirement) effective from 24 October 2019. This has
increased the Pillar 2A CET1 requirement by c.35bps to 3.0% and the
Group’s overall capital requirement from 11.7% to 12.0%. The
total capital requirement for operational risk remains unchanged.
As a result, the Group is targeting a CET1 ratio of c.13.5% going
forward
|
||
●
|
The average UK leverage ratio increased to 4.6% (December 2018:
4.5%) primarily driven by an increase in Tier 1 (T1) capital, which
included the accretion of CET1 capital and a net increase of AT1
capital, partially offset by an increase in exposure to
£1,171bn (December 2018: £1,110bn). The UK leverage ratio
decreased to 4.8% (December 2018: 5.1%)
|
●
|
The
liquidity pool was stable at £226bn (December 2018:
£227bn), reflecting the Group’s prudent liquidity
management approach. The liquidity coverage ratio (LCR) remained
well above the 100% regulatory requirement at 151% (December 2018:
169%), equivalent to a surplus of £77bn (December 2018:
£90bn). The LCR and surplus have been managed down through the
course of the year, supporting increased business funding
requirements while maintaining a conservative liquidity
position
|
●
|
Wholesale
funding outstanding, excluding repurchase agreements, was
£162bn (December 2018: £154bn). The Group issued
£8.2bn equivalent of minimum requirement for own funds and
eligible liabilities (MREL) instruments year-to-date from Barclays
PLC (the Parent company). The Group is well advanced in its MREL
issuance plans, with a Barclays PLC MREL ratio of 30.4% as at 30
September 2019 relative to an estimated requirement including
requisite buffers of 31.2% by 1 January 2022. This increased from
29.9% as at 30 June 2019 due to the revision of the Group’s
Pillar 2A requirement, following the removal of the Group’s
operational risk RWAs floor
|
●
|
The
Group called three AT1 instruments eligible for call on 15
September 2019. The redemptions resulted in a decrease of 13bps to
the CET1 ratio due to two of these instruments being held on the
balance sheet at historical FX rates
|
●
|
The
risks associated with the process of the UK withdrawal from the
European Union continue to be closely monitored. Impairment stock
as at 30 September 2019 includes an adjustment of £150m
representing the anticipated impact of economic uncertainty in the
UK
|
●
|
Following
the increase to the provision of £1.4bn and provision
utilisation of £350m during the third quarter, the Group held
a provision of £1.4bn against the cost of PPI redress and
associated processing costs as at 30 September 2019. The Group has
recognised £11bn of cumulative provisions to date
|
|
The
provision increase at Q319 is attributable to the exceptional level
of claims and information requests from customers and Claims
Management Companies (CMCs) ahead of the Financial Conduct
Authority (FCA) complaint deadline of 29 August 2019 and enquiries
from the Official Receiver on behalf of bankrupt
individuals
|
|
At the
end of Q319, there were in excess of 2m claims, enquiries and
information requests at various stages of processing. The increase
in provision has been calculated by applying a number of
assumptions to this population, which are based on limited
observations from processing completed to date, historical
experience and management judgement. These assumptions include the
proportion of claims and information requests expected to be valid.
The provision estimate is more sensitive to this assumption given
the volumes
|
|
The
following table outlines key assumptions regarding the proportion
of valid claims used in the provision calculation as at 30
September 2019 and a sensitivity analysis illustrating the impact
on the provision, if the assumptions prove too high or
low
|
|
Historically Observed
|
|
Current Assumption
|
|
Sensitivity £m
|
|
Valid %
|
|
Valid %
|
|
+/- 1% valid rate
|
Claims Received
|
30% -
40%
|
|
30%1
|
|
11
|
Information Requests Received
|
5% -
11%
|
|
8%
|
|
76
|
●
|
There
is additional uncertainty surrounding the legal position in
relation to enquiries received from the Official Receiver. Uphold
rates and average claim redress may differ from that experienced
more generally, given the particular circumstances of this
population
|
●
|
The
Group expects the level of uncertainty to reduce during Q419 as a
greater proportion of claims, enquiries and information requests
are processed. Given the degree of sensitivity illustrated above,
it is possible that the eventual cumulative provision may differ
from the current estimate
|
●
|
The
Group continues to target a >9% RoTE for 2019 and >10% for
20202.
However, given global macroeconomic uncertainty and the current low
interest rate environment, it has become more challenging to
achieve these targets, particularly with respect to
2020
|
●
|
Continuing
to improve returns on a sustainable basis remains a key priority
for the Group, whilst also delivering attractive capital returns to
shareholders and investing in key business growth
initiatives
|
●
|
Group
cost guidance is unchanged, with management expecting to reduce
2019 costs below £13.6bn3
|
●
|
The
Group expects to be at its revised target CET1 ratio of c.13.5% at
year-end
|
1 1
|
Based
on recently observed data, August and September 2019.
|
3 2
|
Excluding
litigation and conduct, with returns targets based on a Group CET1
ratio of c.13.5%.
|
5 3
|
Excluding
litigation and conduct, calculated using a USD/GBP FX rate of 1.27
and subject to foreign currency movements.
|
Barclays UK
|
Nine months ended
|
Nine months ended
|
|
30.09.19
|
30.09.18
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
4,410
|
4,515
|
(2)
|
Net fee, commission and other income
|
984
|
1,005
|
(2)
|
Total income
|
5,394
|
5,520
|
(2)
|
Credit impairment charges and other provisions
|
(522)
|
(530)
|
2
|
Net operating income
|
4,872
|
4,990
|
(2)
|
Operating expenses
|
(2,973)
|
(2,961)
|
-
|
Litigation and conduct
|
(1,524)
|
(468)
|
|
Total operating expenses
|
(4,497)
|
(3,429)
|
(31)
|
Other net income
|
-
|
5
|
|
Profit before tax
|
375
|
1,566
|
(76)
|
Attributable (loss)/profit1
|
(157)
|
957
|
|
|
|
|
|
|
As at 30.09.19
|
As at 31.12.18
|
As at 30.09.18
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
193.2
|
187.6
|
186.7
|
Total assets
|
257.9
|
249.7
|
252.0
|
Customer deposits at amortised cost
|
203.3
|
197.3
|
195.8
|
Loan: deposit ratio
|
97%
|
96%
|
96%
|
Risk weighted assets
|
76.8
|
75.2
|
74.8
|
Period end allocated tangible equity
|
10.4
|
10.2
|
10.1
|
|
|
|
|
|
Nine months ended
|
Nine months ended
|
|
Performance measures
|
30.09.19
|
30.09.18
|
|
Return on average allocated tangible equity
|
(2.0%)
|
12.7%
|
|
Average allocated tangible equity (£bn)
|
10.4
|
10.0
|
|
Cost: income ratio
|
83%
|
62%
|
|
Loan loss rate (bps)
|
35
|
37
|
|
Net interest margin
|
3.10%
|
3.24%
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
% Change
|
Profit before tax
|
1,899
|
2,034
|
(7)
|
Attributable profit
|
1,332
|
1,417
|
(6)
|
Return on average allocated tangible equity
|
17.2%
|
18.9%
|
|
Cost: income ratio
|
55%
|
54%
|
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact EPS or return on average tangible
shareholders’ equity.
|
2
|
Refer to pages 36 to 45 for further information and calculations of
performance measures excluding litigation and conduct.
|
Analysis of Barclays
UK
|
Nine months ended
|
Nine months ended
|
|
30.09.19
|
30.09.18
|
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
Personal Banking
|
2,945
|
3,008
|
(2)
|
Barclaycard Consumer UK
|
1,459
|
1,582
|
(8)
|
Business Banking
|
990
|
930
|
6
|
Total income
|
5,394
|
5,520
|
(2)
|
|
|
|
|
Analysis of credit impairment charges and other
provisions
|
|
|
|
Personal Banking
|
(124)
|
(129)
|
4
|
Barclaycard Consumer UK
|
(364)
|
(340)
|
(7)
|
Business Banking
|
(34)
|
(61)
|
44
|
Total credit impairment charges and other provisions
|
(522)
|
(530)
|
2
|
|
|
|
|
|
As at 30.09.19
|
As at 31.12.18
|
As at 30.09.18
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
£bn
|
Personal Banking
|
150.1
|
146.0
|
145.4
|
Barclaycard Consumer UK
|
14.9
|
15.3
|
15.3
|
Business Banking
|
28.2
|
26.3
|
26.0
|
Total loans and advances to customers at amortised
cost
|
193.2
|
187.6
|
186.7
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
Personal Banking
|
157.9
|
154.0
|
153.4
|
Barclaycard Consumer UK
|
-
|
-
|
-
|
Business Banking
|
45.4
|
43.3
|
42.4
|
Total customer deposits at amortised cost
|
203.3
|
197.3
|
195.8
|
Barclays
International
|
Nine months ended
|
Nine months ended
|
|
30.09.19
|
30.09.18
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
2,976
|
2,831
|
5
|
Net trading income
|
3,270
|
3,613
|
(9)
|
Net fee, commission and other income
|
4,977
|
4,361
|
14
|
Total income
|
11,223
|
10,805
|
4
|
Credit impairment charges and other provisions
|
(844)
|
(304)
|
|
Net operating income
|
10,379
|
10,501
|
(1)
|
Operating expenses
|
(6,923)
|
(6,883)
|
(1)
|
Litigation and conduct
|
(30)
|
(94)
|
68
|
Total operating expenses
|
(6,953)
|
(6,977)
|
-
|
Other net income
|
52
|
36
|
44
|
Profit before tax
|
3,478
|
3,560
|
(2)
|
Attributable profit1
|
2,419
|
2,620
|
(8)
|
|
|
|
|
|
As at 30.09.19
|
As at 31.12.18
|
As at 30.09.18
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
138.1
|
127.2
|
132.4
|
Trading portfolio assets
|
119.4
|
104.0
|
124.6
|
Derivative financial instrument assets
|
286.0
|
222.1
|
214.8
|
Financial assets at fair value through the income
statement
|
158.0
|
144.7
|
147.8
|
Cash collateral and settlement balances
|
112.5
|
74.3
|
94.3
|
Other assets
|
195.6
|
189.8
|
186.3
|
Total assets
|
1,009.6
|
862.1
|
900.2
|
Deposits at amortised cost
|
217.6
|
197.2
|
200.3
|
Derivative financial instrument liabilities
|
283.3
|
219.6
|
213.7
|
Loan: deposit ratio
|
63%
|
65%
|
66%
|
Risk weighted assets
|
223.1
|
210.7
|
214.6
|
Period end allocated tangible equity
|
31.4
|
29.9
|
30.2
|
|
|
|
|
|
Nine months ended
|
Nine months ended
|
|
Performance measures
|
30.09.19
|
30.09.18
|
|
Return on average allocated tangible equity
|
10.3%
|
11.3%
|
|
Average allocated tangible equity (£bn)
|
31.2
|
30.9
|
|
Cost: income ratio
|
62%
|
65%
|
|
Loan loss rate (bps)
|
80
|
30
|
|
Net interest margin
|
4.00%
|
4.15%
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
% Change
|
Profit before tax
|
3,508
|
3,654
|
(4)
|
Attributable profit
|
2,445
|
2,692
|
(9)
|
Return on average allocated tangible equity
|
10.4%
|
11.6%
|
|
Cost: income ratio
|
62%
|
64%
|
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact EPS or return on average tangible
shareholders’ equity.
|
2
|
Refer to pages 36 to 45 for further information and calculations of
performance measures excluding litigation and conduct.
|
Analysis of Barclays International
|
|
|
|
Corporate and Investment Bank
|
Nine months ended
|
Nine months ended
|
|
30.09.19
|
30.09.18
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
FICC
|
2,638
|
2,293
|
15
|
Equities
|
1,478
|
1,662
|
(11)
|
Markets
|
4,116
|
3,955
|
4
|
Banking fees
|
1,955
|
1,906
|
3
|
Corporate lending
|
563
|
635
|
(11)
|
Transaction banking
|
1,283
|
1,215
|
6
|
Corporate
|
1,846
|
1,850
|
-
|
Other
|
-
|
(97)
|
|
Total income
|
7,917
|
7,614
|
4
|
Credit impairment (charges)/releases and other
provisions
|
(127)
|
185
|
|
Net operating income
|
7,790
|
7,799
|
-
|
Operating expenses
|
(5,191)
|
(5,258)
|
1
|
Litigation and conduct
|
(30)
|
(45)
|
33
|
Total operating expenses
|
(5,221)
|
(5,303)
|
2
|
Other net income
|
27
|
12
|
|
Profit before tax
|
2,596
|
2,508
|
4
|
Attributable profit1
|
1,787
|
1,865
|
(4)
|
|
|
|
|
|
As at 30.09.19
|
As at 31.12.18
|
As at 30.09.18
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
95.8
|
86.4
|
93.3
|
Trading portfolio assets
|
119.3
|
104.0
|
124.5
|
Derivative financial instrument assets
|
286.0
|
222.1
|
214.8
|
Financial assets at fair value through the income
statement
|
157.3
|
144.2
|
147.3
|
Cash collateral and settlement balances
|
111.6
|
73.4
|
93.3
|
Other assets
|
171.5
|
160.4
|
153.8
|
Total assetspa
|
941.5
|
790.5
|
827.0
|
Deposits at amortised cost
|
152.1
|
136.3
|
137.6
|
Derivative financial instrument liabilities
|
283.2
|
219.6
|
213.7
|
Risk weighted assets
|
184.9
|
170.9
|
175.9
|
|
|
|
|
|
Nine months ended
|
Nine months ended
|
|
Performance measures
|
30.09.19
|
30.09.18
|
|
Return on average allocated tangible equity
|
9.2%
|
9.6%
|
|
Average allocated tangible equity (£bn)
|
25.9
|
26.0
|
|
Cost: income ratio
|
66%
|
70%
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
% Change
|
Profit before tax
|
2,626
|
2,553
|
3
|
Attributable profit
|
1,813
|
1,901
|
(5)
|
Return on average allocated tangible equity
|
9.3%
|
9.7%
|
|
Cost: income ratio
|
66%
|
69%
|
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact EPS or return on average tangible
shareholders’ equity.
|
2
|
Refer to pages 36 to 45 for more information and calculations of
performance measures excluding litigation and conduct.
|
Analysis of Barclays International
|
|
|
|
Consumer, Cards and Payments
|
Nine months ended
|
Nine months ended
|
|
30.09.19
|
30.09.18
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Total income
|
3,306
|
3,191
|
4
|
Credit impairment charges and other provisions
|
(717)
|
(489)
|
(47)
|
Net operating income
|
2,589
|
2,702
|
(4)
|
Operating expenses
|
(1,732)
|
(1,625)
|
(7)
|
Litigation and conduct
|
-
|
(49)
|
|
Total operating expenses
|
(1,732)
|
(1,674)
|
(3)
|
Other net income
|
25
|
24
|
4
|
Profit before tax
|
882
|
1,052
|
(16)
|
Attributable profit1
|
632
|
755
|
(16)
|
|
|
|
|
|
As at 30.09.19
|
As at 31.12.18
|
As at 30.09.18
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
42.3
|
40.8
|
39.1
|
Total assets
|
68.1
|
71.6
|
73.2
|
Deposits at amortised cost
|
65.5
|
60.9
|
62.7
|
Risk weighted assets
|
38.2
|
39.8
|
38.7
|
|
|
|
|
|
Nine months ended
|
Nine months ended
|
|
Performance measures
|
30.09.19
|
30.09.18
|
|
Return on average allocated tangible equity
|
15.8%
|
20.7%
|
|
Average allocated tangible equity (£bn)
|
5.3
|
4.9
|
|
Cost: income ratio
|
52%
|
52%
|
|
Loan loss rate (bps)
|
213
|
156
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
% Change
|
Profit before tax
|
882
|
1,101
|
(20)
|
Attributable profit
|
632
|
791
|
(20)
|
Return on average allocated tangible equity
|
15.8%
|
21.7%
|
|
Cost: income ratio
|
52%
|
51%
|
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact EPS or return on average tangible
shareholders’ equity.
|
2
|
Refer to pages 36 to 45 for more information and calculations of
performance measures excluding litigation and conduct.
|
Head Office
|
Nine months ended
|
Nine months ended
|
|
30.09.19
|
30.09.18
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
(323)
|
(580)
|
44
|
Net fee, commission and other income
|
37
|
318
|
(88)
|
Total income
|
(286)
|
(262)
|
(9)
|
Credit impairment (charges)/releases and other
provisions
|
(23)
|
9
|
|
Net operating income
|
(309)
|
(253)
|
(22)
|
Operating expenses
|
(155)
|
(159)
|
3
|
Litigation and conduct
|
(128)
|
(1,585)
|
92
|
Total operating expenses
|
(283)
|
(1,744)
|
84
|
Other net expenses
|
(1)
|
(9)
|
89
|
Loss before tax
|
(593)
|
(2,006)
|
70
|
Attributable loss1
|
(482)
|
(1,966)
|
75
|
|
|
|
|
|
As at 30.09.19
|
As at 31.12.18
|
As at 30.09.18
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Total assets
|
22.9
|
21.5
|
18.6
|
Risk weighted assets
|
13.4
|
26.0
|
26.8
|
Period end allocated tangible equity
|
5.5
|
4.9
|
4.2
|
|
|
|
|
|
Nine months ended
|
Nine months ended
|
|
Performance measures
|
30.09.19
|
30.09.18
|
|
Average allocated tangible equity (£bn)
|
5.0
|
3.2
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
% Change
|
Loss before tax
|
(465)
|
(421)
|
(10)
|
Attributable loss
|
(386)
|
(424)
|
9
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact EPS or return on average tangible
shareholders’ equity.
|
2
|
Refer to pages 36 to 45 for further
information and calculations of performance measures excluding
litigation and conduct.
|
Barclays
Group
|
|
|
|
|
|
|
|
|
|
|
|
Q319
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Income statement information
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Net interest income
|
2,445
|
2,360
|
2,258
|
|
2,296
|
2,388
|
2,190
|
2,188
|
|
2,272
|
Net fee, commission and other income
|
3,096
|
3,178
|
2,994
|
|
2,777
|
2,741
|
3,386
|
3,170
|
|
2,750
|
Total income
|
5,541
|
5,538
|
5,252
|
|
5,073
|
5,129
|
5,576
|
5,358
|
|
5,022
|
Credit impairment charges and other provisions
|
(461)
|
(480)
|
(448)
|
|
(643)
|
(254)
|
(283)
|
(288)
|
|
(573)
|
Net operating income
|
5,080
|
5,058
|
4,804
|
|
4,430
|
4,875
|
5,293
|
5,070
|
|
4,449
|
Operating costs
|
(3,293)
|
(3,501)
|
(3,257)
|
|
(3,624)
|
(3,329)
|
(3,310)
|
(3,364)
|
|
(3,621)
|
UK bank levy
|
-
|
-
|
-
|
|
(269)
|
-
|
-
|
-
|
|
(365)
|
Operating expenses
|
(3,293)
|
(3,501)
|
(3,257)
|
|
(3,893)
|
(3,329)
|
(3,310)
|
(3,364)
|
|
(3,986)
|
Guaranteed Minimum Pensions (GMP) charge
|
-
|
-
|
-
|
|
(140)
|
-
|
-
|
-
|
|
-
|
Litigation and conduct
|
(1,568)
|
(53)
|
(61)
|
|
(60)
|
(105)
|
(81)
|
(1,961)
|
|
(383)
|
Total operating expenses
|
(4,861)
|
(3,554)
|
(3,318)
|
|
(4,093)
|
(3,434)
|
(3,391)
|
(5,325)
|
|
(4,369)
|
Other net income/(expenses)
|
27
|
27
|
(3)
|
|
37
|
20
|
(7)
|
19
|
|
13
|
Profit/(loss) before tax
|
246
|
1,531
|
1,483
|
|
374
|
1,461
|
1,895
|
(236)
|
|
93
|
Tax charge1
|
(269)
|
(297)
|
(248)
|
|
(83)
|
(192)
|
(386)
|
(258)
|
|
(1,089)
|
(Loss)/profit after tax
|
(23)
|
1,234
|
1,235
|
|
291
|
1,269
|
1,509
|
(494)
|
|
(996)
|
Non-controlling interests
|
(4)
|
(17)
|
(17)
|
|
(75)
|
(43)
|
(55)
|
(53)
|
|
(68)
|
Other equity instrument holders
|
(265)
|
(183)
|
(180)
|
|
(230)
|
(176)
|
(175)
|
(171)
|
|
(181)
|
Attributable
(loss)/profit1
|
(292)
|
1,034
|
1,038
|
|
(14)
|
1,050
|
1,279
|
(718)
|
|
(1,245)
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
(2.4%)
|
9.0%
|
9.2%
|
|
(0.1%)
|
9.4%
|
11.8%
|
(6.5%)
|
|
(10.3%)
|
Average tangible shareholders' equity (£bn)
|
48.4
|
46.2
|
45.2
|
|
44.3
|
44.6
|
43.5
|
44.2
|
|
48.1
|
Cost: income ratio
|
88%
|
64%
|
63%
|
|
81%
|
67%
|
61%
|
99%
|
|
87%
|
Loan loss rate (bps)2
|
52
|
56
|
54
|
|
77
|
30
|
35
|
36
|
|
56
|
Basic (loss)/earnings per share
|
(1.7p)
|
6.0p
|
6.1p
|
|
(0.1p)
|
6.1p
|
7.5p
|
(4.2p)
|
|
(7.3p)
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct3
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Profit before tax
|
1,814
|
1,584
|
1,544
|
|
434
|
1,566
|
1,976
|
1,725
|
|
476
|
Attributable profit/(loss)
|
1,233
|
1,074
|
1,084
|
|
48
|
1,135
|
1,338
|
1,212
|
|
(894)
|
Return on average tangible shareholders' equity
|
10.2%
|
9.3%
|
9.6%
|
|
0.4%
|
10.2%
|
12.3%
|
11.0%
|
|
(7.4%)
|
Cost: income ratio
|
59%
|
63%
|
62%
|
|
79%
|
65%
|
59%
|
63%
|
|
79%
|
Basic earnings/(loss) per share
|
7.2p
|
6.3p
|
6.3p
|
|
0.3p
|
6.6p
|
7.8p
|
7.1p
|
|
(5.3p)
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet and capital
management4
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
Total assets
|
1,290.4
|
1,232.8
|
1,193.5
|
|
1,133.3
|
1,170.8
|
1,149.6
|
1,142.2
|
|
1,133.2
|
Tangible net asset value per share
|
274p
|
275p
|
266p
|
|
262p
|
260p
|
259p
|
251p
|
|
276p
|
Common equity tier 1 ratio
|
13.4%
|
13.4%
|
13.0%
|
|
13.2%
|
13.2%
|
13.0%
|
12.7%
|
|
13.3%
|
Common equity tier 1 capital
|
41.9
|
42.9
|
41.4
|
|
41.1
|
41.7
|
41.4
|
40.2
|
|
41.6
|
Risk weighted assets
|
313.3
|
319.1
|
319.7
|
|
311.9
|
316.2
|
319.3
|
317.9
|
|
313.0
|
Average UK leverage ratio
|
4.6%
|
4.7%
|
4.6%
|
|
4.5%
|
4.6%
|
4.6%
|
4.6%
|
|
4.9%
|
Average UK leverage exposure
|
1,171.2
|
1,134.6
|
1,105.5
|
|
1,110.0
|
1,119.0
|
1,081.8
|
1,089.9
|
|
1,044.6
|
UK leverage ratio
|
4.8%
|
5.1%
|
4.9%
|
|
5.1%
|
4.9%
|
4.9%
|
4.8%
|
|
5.1%
|
UK leverage exposure
|
1,099.8
|
1,079.4
|
1,065.0
|
|
998.6
|
1,063.5
|
1,030.1
|
1,030.8
|
|
984.7
|
|
|
|
|
|
|
|
|
|
|
|
Funding and liquidity
|
|
|
|
|
|
|
|
|
|
|
Group liquidity (£bn)
|
226
|
238
|
232
|
|
227
|
213
|
214
|
207
|
|
220
|
Liquidity coverage ratio
|
151%
|
156%
|
160%
|
|
169%
|
161%
|
154%
|
147%
|
|
154%
|
Loan: deposit ratio
|
82%
|
82%
|
80%
|
|
83%
|
83%
|
83%
|
84%
|
|
81%
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact EPS or return on average tangible
shareholders’ equity.
|
2
|
Prior to Q118 comparatives calculated based on gross loans and
advances at amortised cost before the balance sheet presentation
change and IAS 39 impairment charge.
|
3
|
Refer to pages 36 to 45 for further information and calculations of
performance measures excluding litigation and conduct.
|
4
|
Capital, RWAs and leverage measures are calculated applying the
transitional arrangements of the CRR as amended by CRR II
applicable as at the reporting date. This includes IFRS 9
transitional arrangements. For more information on the
implementation of CRR II see page 25
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
|
Q319
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Income statement information
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Net interest income
|
1,503
|
1,438
|
1,469
|
|
1,513
|
1,529
|
1,493
|
1,493
|
|
1,540
|
Net fee, commission and other income
|
343
|
333
|
308
|
|
350
|
367
|
343
|
295
|
|
330
|
Total income
|
1,846
|
1,771
|
1,777
|
|
1,863
|
1,896
|
1,836
|
1,788
|
|
1,870
|
Credit impairment charges and other provisions
|
(101)
|
(230)
|
(191)
|
|
(296)
|
(115)
|
(214)
|
(201)
|
|
(184)
|
Net operating income
|
1,745
|
1,541
|
1,586
|
|
1,567
|
1,781
|
1,622
|
1,587
|
|
1,686
|
Operating costs
|
(952)
|
(1,022)
|
(999)
|
|
(1,114)
|
(988)
|
(968)
|
(1,005)
|
|
(1,117)
|
UK bank levy
|
-
|
-
|
-
|
|
(46)
|
-
|
-
|
-
|
|
(59)
|
Litigation and conduct
|
(1,480)
|
(41)
|
(3)
|
|
(15)
|
(54)
|
(3)
|
(411)
|
|
(53)
|
Total operating expenses
|
(2,432)
|
(1,063)
|
(1,002)
|
|
(1,175)
|
(1,042)
|
(971)
|
(1,416)
|
|
(1,229)
|
Other net (expenses)/income
|
-
|
(1)
|
1
|
|
(2)
|
1
|
5
|
(1)
|
|
(5)
|
(Loss)/profit before tax
|
(687)
|
477
|
585
|
|
390
|
740
|
656
|
170
|
|
452
|
Attributable (loss)/profit1
|
(907)
|
328
|
422
|
|
241
|
510
|
473
|
(26)
|
|
258
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
Loans and advances to customers at amortised cost
|
193.2
|
189.1
|
187.5
|
|
187.6
|
186.7
|
185.3
|
184.3
|
|
183.8
|
Total assets
|
257.9
|
259.0
|
253.1
|
|
249.7
|
252.0
|
245.9
|
235.2
|
|
237.4
|
Customer deposits at amortised cost
|
203.3
|
200.9
|
197.3
|
|
197.3
|
195.8
|
194.3
|
192.0
|
|
193.4
|
Loan: deposit ratio
|
97%
|
97%
|
96%
|
|
96%
|
96%
|
96%
|
96%
|
|
95%
|
Risk weighted assets
|
76.8
|
76.2
|
76.6
|
|
75.2
|
74.8
|
75.0
|
72.5
|
|
70.9
|
Period end allocated tangible equity
|
10.4
|
10.3
|
10.5
|
|
10.2
|
10.1
|
10.2
|
9.8
|
|
9.6
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
(34.9%)
|
12.7%
|
16.3%
|
|
9.6%
|
20.1%
|
18.8%
|
(1.1%)
|
|
10.7%
|
Average allocated tangible equity (£bn)
|
10.4
|
10.3
|
10.4
|
|
10.1
|
10.1
|
10.1
|
9.8
|
|
9.6
|
Cost: income ratio
|
132%
|
60%
|
56%
|
|
63%
|
55%
|
53%
|
79%
|
|
66%
|
Loan loss rate (bps)2
|
20
|
47
|
40
|
|
61
|
24
|
45
|
43
|
|
39
|
Net interest margin
|
3.10%
|
3.05%
|
3.18%
|
|
3.20%
|
3.22%
|
3.22%
|
3.27%
|
|
3.32%
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct3
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Profit before tax
|
793
|
518
|
588
|
|
405
|
794
|
659
|
581
|
|
505
|
Attributable profit
|
550
|
358
|
424
|
|
253
|
558
|
474
|
385
|
|
295
|
Return on average allocated tangible equity
|
21.2%
|
13.9%
|
16.4%
|
|
10.1%
|
22.0%
|
18.8%
|
15.7%
|
|
12.3%
|
Cost: income ratio
|
52%
|
58%
|
56%
|
|
62%
|
52%
|
53%
|
56%
|
|
63%
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact EPS or return on average tangible
shareholders’ equity.
|
2.
|
Prior to Q118 comparatives calculated based on gross loans and
advances at amortised cost before the balance sheet presentation
change and IAS 39 impairment charge.
|
3
|
Refer to pages 36 to 45 for further information and calculations of
performance measures excluding litigation and conduct.
|
Analysis of Barclays
UK
|
Q319
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Analysis of total income
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Personal Banking
|
1,035
|
946
|
964
|
|
998
|
1,021
|
1,015
|
972
|
|
1,116
|
Barclaycard Consumer UK
|
472
|
497
|
490
|
|
522
|
551
|
504
|
527
|
|
445
|
Business Banking
|
339
|
328
|
323
|
|
343
|
324
|
317
|
289
|
|
309
|
Total income
|
1,846
|
1,771
|
1,777
|
|
1,863
|
1,896
|
1,836
|
1,788
|
|
1,870
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of credit impairment (charges)/releases and other
provisions
|
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
(36)
|
(36)
|
(52)
|
|
(44)
|
(8)
|
(49)
|
(72)
|
|
(56)
|
Barclaycard Consumer UK
|
(49)
|
(175)
|
(140)
|
|
(250)
|
(88)
|
(139)
|
(113)
|
|
(124)
|
Business Banking
|
(16)
|
(19)
|
1
|
|
(2)
|
(19)
|
(26)
|
(16)
|
|
(4)
|
Total credit impairment charges and other provisions
|
(101)
|
(230)
|
(191)
|
|
(296)
|
(115)
|
(214)
|
(201)
|
|
(184)
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
Personal Banking
|
150.1
|
147.3
|
145.9
|
|
146.0
|
145.4
|
143.6
|
142.1
|
|
141.3
|
Barclaycard Consumer UK
|
14.9
|
15.1
|
15.0
|
|
15.3
|
15.3
|
15.2
|
15.2
|
|
16.4
|
Business Banking
|
28.2
|
26.7
|
26.6
|
|
26.3
|
26.0
|
26.5
|
27.0
|
|
26.1
|
Total loans and advances to customers at amortised
cost
|
193.2
|
189.1
|
187.5
|
|
187.6
|
186.7
|
185.3
|
184.3
|
|
183.8
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
157.9
|
156.3
|
154.1
|
|
154.0
|
153.4
|
152.9
|
151.9
|
|
153.1
|
Barclaycard Consumer UK
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
|
-
|
Business Banking
|
45.4
|
44.6
|
43.2
|
|
43.3
|
42.4
|
41.4
|
40.1
|
|
40.3
|
Total customer deposits at amortised cost
|
203.3
|
200.9
|
197.3
|
|
197.3
|
195.8
|
194.3
|
192.0
|
|
193.4
|
Barclays
International
|
|
|
|
|
|
|
|
|
|
|
|
Q319
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Income statement information
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Net interest income
|
1,059
|
1,017
|
900
|
|
984
|
965
|
853
|
1,013
|
|
987
|
Net trading income
|
1,110
|
1,016
|
1,144
|
|
837
|
1,103
|
1,094
|
1,416
|
|
935
|
Net fee, commission and other income
|
1,581
|
1,870
|
1,526
|
|
1,400
|
1,222
|
1,760
|
1,379
|
|
1,397
|
Total income
|
3,750
|
3,903
|
3,570
|
|
3,221
|
3,290
|
3,707
|
3,808
|
|
3,319
|
Credit impairment charges and other provisions
|
(352)
|
(247)
|
(245)
|
|
(354)
|
(143)
|
(68)
|
(93)
|
|
(386)
|
Net operating income
|
3,398
|
3,656
|
3,325
|
|
2,867
|
3,147
|
3,639
|
3,715
|
|
2,933
|
Operating costs
|
(2,282)
|
(2,435)
|
(2,206)
|
|
(2,441)
|
(2,277)
|
(2,306)
|
(2,300)
|
|
(2,428)
|
UK bank levy
|
-
|
-
|
-
|
|
(210)
|
-
|
-
|
-
|
|
(265)
|
Litigation and conduct
|
-
|
(11)
|
(19)
|
|
(33)
|
(32)
|
(47)
|
(15)
|
|
(255)
|
Total operating expenses
|
(2,282)
|
(2,446)
|
(2,225)
|
|
(2,684)
|
(2,309)
|
(2,353)
|
(2,315)
|
|
(2,948)
|
Other net income
|
21
|
13
|
18
|
|
32
|
12
|
11
|
13
|
|
21
|
Profit before tax
|
1,137
|
1,223
|
1,118
|
|
215
|
850
|
1,297
|
1,413
|
|
6
|
Attributable profit/(loss)1
|
799
|
832
|
788
|
|
(21)
|
687
|
926
|
1,007
|
|
(1,134)
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
Loans and advances at amortised cost
|
138.1
|
134.8
|
130.9
|
|
127.2
|
132.4
|
125.5
|
117.5
|
|
126.8
|
Trading portfolio assets
|
119.4
|
120.0
|
117.2
|
|
104.0
|
124.6
|
116.5
|
114.9
|
|
113.0
|
Derivative financial instrument assets
|
286.0
|
243.8
|
217.3
|
|
222.1
|
214.8
|
228.2
|
214.1
|
|
236.2
|
Financial assets at fair value through the income
statement
|
158.0
|
154.7
|
153.5
|
|
144.7
|
147.8
|
141.2
|
150.6
|
|
104.1
|
Cash collateral and settlement balances
|
112.5
|
101.3
|
97.8
|
|
74.3
|
94.3
|
91.5
|
82.6
|
|
71.9
|
Other assets
|
195.6
|
196.8
|
202.3
|
|
189.8
|
186.3
|
183.6
|
186.9
|
|
204.1
|
Total assets
|
1,009.6
|
951.4
|
919.0
|
|
862.1
|
900.2
|
886.5
|
866.6
|
|
856.1
|
Deposits at amortised cost
|
217.6
|
212.0
|
215.5
|
|
197.2
|
200.3
|
191.0
|
167.2
|
|
187.3
|
Derivative financial instrument liabilities
|
283.3
|
243.0
|
213.5
|
|
219.6
|
213.7
|
224.9
|
210.8
|
|
237.8
|
Loan: deposit ratio
|
63%
|
64%
|
61%
|
|
65%
|
66%
|
66%
|
70%
|
|
68%
|
Risk weighted assets
|
223.1
|
214.8
|
216.1
|
|
210.7
|
214.6
|
218.0
|
214.2
|
|
210.3
|
Period end allocated tangible equity
|
31.4
|
30.2
|
30.6
|
|
29.9
|
30.2
|
30.5
|
30.0
|
|
27.5
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
9.9%
|
10.7%
|
10.4%
|
|
(0.3%)
|
8.8%
|
11.8%
|
13.4%
|
|
(15.9%)
|
Average allocated tangible equity (£bn)
|
32.2
|
31.1
|
30.5
|
|
31.3
|
31.1
|
31.4
|
30.1
|
|
28.5
|
Cost: income ratio
|
61%
|
63%
|
62%
|
|
83%
|
70%
|
63%
|
61%
|
|
89%
|
Loan loss rate (bps)2
|
99
|
72
|
73
|
|
107
|
41
|
22
|
31
|
|
76
|
Net interest margin
|
4.10%
|
3.91%
|
3.99%
|
|
3.98%
|
3.87%
|
4.03%
|
4.57%
|
|
4.31%
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct3
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Profit before tax
|
1,137
|
1,234
|
1,137
|
|
248
|
882
|
1,344
|
1,428
|
|
261
|
Attributable profit/(loss)
|
801
|
840
|
804
|
|
13
|
713
|
960
|
1,019
|
|
(884)
|
Return on average allocated tangible equity
|
10.0%
|
10.8%
|
10.6%
|
|
0.2%
|
9.2%
|
12.2%
|
13.6%
|
|
(12.4%)
|
Cost: income ratio
|
61%
|
62%
|
62%
|
|
82%
|
69%
|
62%
|
60%
|
|
81%
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact EPS or return on average tangible
shareholders’ equity.
|
2
|
Prior to Q118 comparatives calculated based on gross loans and
advances at amortised cost before the balance sheet presentation
change and IAS 39 impairment charge.
|
3
|
Refer to pages 36 to 45 for further information and calculations of
performance measures excluding litigation and conduct.
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
Q319
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Income statement information
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
FICC
|
816
|
920
|
902
|
|
570
|
688
|
736
|
869
|
|
607
|
Equities
|
494
|
517
|
467
|
|
375
|
471
|
601
|
590
|
|
362
|
Markets
|
1,310
|
1,437
|
1,369
|
|
945
|
1,159
|
1,337
|
1,459
|
|
969
|
Banking fees
|
688
|
698
|
569
|
|
625
|
519
|
704
|
683
|
|
605
|
Corporate lending
|
195
|
216
|
152
|
|
243
|
197
|
198
|
240
|
|
269
|
Transaction banking
|
424
|
444
|
415
|
|
412
|
416
|
385
|
414
|
|
408
|
Corporate
|
619
|
660
|
567
|
|
655
|
613
|
583
|
654
|
|
677
|
Other
|
-
|
-
|
-
|
|
(74)
|
(56)
|
(44)
|
3
|
|
1
|
Total income
|
2,617
|
2,795
|
2,505
|
|
2,151
|
2,235
|
2,580
|
2,799
|
|
2,252
|
Credit impairment (charges)/releases and other
provisions
|
(31)
|
(44)
|
(52)
|
|
(35)
|
3
|
23
|
159
|
|
(127)
|
Net operating income
|
2,586
|
2,751
|
2,453
|
|
2,116
|
2,238
|
2,603
|
2,958
|
|
2,125
|
Operating costs
|
(1,712)
|
(1,860)
|
(1,619)
|
|
(1,835)
|
(1,712)
|
(1,773)
|
(1,773)
|
|
(1,885)
|
UK bank levy
|
-
|
-
|
-
|
|
(188)
|
-
|
-
|
-
|
|
(244)
|
Litigation and conduct
|
(4)
|
(7)
|
(19)
|
|
(23)
|
(32)
|
-
|
(13)
|
|
(255)
|
Total operating expenses
|
(1,716)
|
(1,867)
|
(1,638)
|
|
(2,046)
|
(1,744)
|
(1,773)
|
(1,786)
|
|
(2,384)
|
Other net income
|
12
|
3
|
12
|
|
15
|
4
|
5
|
3
|
|
7
|
Profit/(loss) before tax
|
882
|
887
|
827
|
|
85
|
498
|
835
|
1,175
|
|
(252)
|
Attributable profit/(loss)1
|
609
|
596
|
582
|
|
(84)
|
431
|
600
|
834
|
|
(1,227)
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
Loans and advances at amortised cost
|
95.8
|
92.1
|
90.6
|
|
86.4
|
93.3
|
87.8
|
81.3
|
|
88.2
|
Trading portfolio assets
|
119.3
|
119.9
|
117.2
|
|
104.0
|
124.5
|
116.5
|
114.9
|
|
112.9
|
Derivative financial instruments assets
|
286.0
|
243.7
|
217.3
|
|
222.1
|
214.8
|
228.1
|
214.2
|
|
236.1
|
Financial assets at fair value through the income
statement
|
157.3
|
154.1
|
152.9
|
|
144.2
|
147.3
|
140.7
|
150.2
|
|
103.8
|
Cash collateral and settlement balances
|
111.6
|
100.4
|
96.9
|
|
73.4
|
93.3
|
90.6
|
81.1
|
|
71.9
|
Other assets
|
171.5
|
168.1
|
163.2
|
|
160.4
|
153.8
|
151.6
|
159.8
|
|
175.8
|
Total assets
|
941.5
|
878.3
|
838.1
|
|
790.5
|
827.0
|
815.3
|
801.5
|
|
788.7
|
Deposits at amortised cost
|
152.1
|
145.4
|
151.4
|
|
136.3
|
137.6
|
130.3
|
107.6
|
|
128.0
|
Derivative financial instrument liabilities
|
283.2
|
242.9
|
213.5
|
|
219.6
|
213.7
|
224.9
|
210.9
|
|
237.7
|
Risk weighted assets
|
184.9
|
175.9
|
176.6
|
|
170.9
|
175.9
|
180.4
|
181.3
|
|
176.2
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
9.1%
|
9.2%
|
9.3%
|
|
(1.3%)
|
6.6%
|
9.1%
|
13.0%
|
|
(20.2%)
|
Average allocated tangible equity (£bn)
|
26.9
|
25.8
|
25.1
|
|
26.0
|
25.9
|
26.4
|
25.6
|
|
24.3
|
Cost: income ratio
|
66%
|
67%
|
65%
|
|
95%
|
78%
|
69%
|
64%
|
|
106%
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Profit before tax
|
886
|
894
|
846
|
|
108
|
530
|
835
|
1,188
|
|
3
|
Attributable profit/(loss)
|
614
|
601
|
598
|
|
(57)
|
456
|
600
|
844
|
|
(977)
|
Return on average allocated tangible equity
|
9.2%
|
9.3%
|
9.5%
|
|
(0.9%)
|
7.0%
|
9.1%
|
13.2%
|
|
(16.1%)
|
Cost: income ratio
|
65%
|
67%
|
65%
|
|
94%
|
77%
|
69%
|
63%
|
|
95%
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact EPS or return on average tangible
shareholders’ equity.
|
2
|
Refer to pages 36 to 45 for further information and calculations of
performance measures excluding litigation and conduct.
|
Analysis of Barclays
International
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer, Cards and
Payments
|
Q319
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Income statement information
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Total income
|
1,133
|
1,108
|
1,065
|
|
1,070
|
1,055
|
1,127
|
1,009
|
|
1,067
|
Credit impairment charges and other provisions
|
(321)
|
(203)
|
(193)
|
|
(319)
|
(146)
|
(91)
|
(252)
|
|
(259)
|
Net operating income
|
812
|
905
|
872
|
|
751
|
909
|
1,036
|
757
|
|
808
|
Operating costs
|
(570)
|
(575)
|
(587)
|
|
(606)
|
(565)
|
(533)
|
(527)
|
|
(543)
|
UK bank levy
|
-
|
-
|
-
|
|
(22)
|
-
|
-
|
-
|
|
(21)
|
Litigation and conduct
|
4
|
(4)
|
-
|
|
(10)
|
-
|
(47)
|
(2)
|
|
-
|
Total operating expenses
|
(566)
|
(579)
|
(587)
|
|
(638)
|
(565)
|
(580)
|
(529)
|
|
(564)
|
Other net income
|
9
|
10
|
6
|
|
17
|
8
|
6
|
10
|
|
14
|
Profit before tax
|
255
|
336
|
291
|
|
130
|
352
|
462
|
238
|
|
258
|
Attributable profit1
|
190
|
236
|
206
|
|
63
|
256
|
326
|
173
|
|
93
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
Loans and advances at amortised cost
|
42.3
|
42.7
|
40.3
|
|
40.8
|
39.1
|
37.7
|
36.2
|
|
38.6
|
Total assets
|
68.1
|
73.1
|
80.9
|
|
71.6
|
73.2
|
71.2
|
65.1
|
|
67.4
|
Deposits at amortised cost
|
65.5
|
66.6
|
64.1
|
|
60.9
|
62.7
|
60.7
|
59.6
|
|
59.3
|
Risk weighted assets
|
38.2
|
38.9
|
39.5
|
|
39.8
|
38.7
|
37.6
|
32.9
|
|
34.1
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
14.2%
|
17.8%
|
15.4%
|
|
4.8%
|
19.8%
|
26.2%
|
15.6%
|
|
8.9%
|
Average allocated tangible equity (£bn)
|
5.3
|
5.3
|
5.4
|
|
5.3
|
5.2
|
5.0
|
4.5
|
|
4.2
|
Cost: income ratio
|
50%
|
52%
|
55%
|
|
60%
|
54%
|
51%
|
52%
|
|
53%
|
Loan loss rate (bps)2
|
283
|
180
|
182
|
|
290
|
138
|
90
|
263
|
|
255
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct3
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Profit before tax
|
251
|
340
|
291
|
|
140
|
352
|
509
|
240
|
|
258
|
Attributable profit
|
187
|
239
|
206
|
|
70
|
257
|
360
|
175
|
|
93
|
Return on average allocated tangible equity
|
14.0%
|
18.0%
|
15.4%
|
|
5.4%
|
19.9%
|
28.9%
|
15.7%
|
|
9.0%
|
Cost: income ratio
|
50%
|
52%
|
55%
|
|
59%
|
54%
|
47%
|
52%
|
|
53%
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact EPS or return on average tangible
shareholders’ equity.
|
2
|
Prior to Q118 comparatives calculated based on gross loans and
advances at amortised cost before the balance sheet presentation
change and IAS 39 impairment charge.
|
3
|
Refer to pages 36 to 45 for further information and calculations of
performance measures excluding litigation and conduct.
|
Head Office
|
|
|
|
|
|
|
|
|
|
|
|
Q319
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Income statement information
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Net interest income
|
(117)
|
(95)
|
(111)
|
|
(201)
|
(106)
|
(156)
|
(318)
|
|
(254)
|
Net fee, commission and other income
|
62
|
(41)
|
16
|
|
190
|
49
|
189
|
80
|
|
87
|
Total income
|
(55)
|
(136)
|
(95)
|
|
(11)
|
(57)
|
33
|
(238)
|
|
(167)
|
Credit impairment (charges)/releases and other
provisions
|
(8)
|
(3)
|
(12)
|
|
7
|
4
|
(1)
|
6
|
|
(3)
|
Net operating (expenses)/income
|
(63)
|
(139)
|
(107)
|
|
(4)
|
(53)
|
32
|
(232)
|
|
(170)
|
Operating costs
|
(59)
|
(44)
|
(52)
|
|
(69)
|
(64)
|
(36)
|
(59)
|
|
(76)
|
UK bank levy
|
-
|
-
|
-
|
|
(13)
|
-
|
-
|
-
|
|
(41)
|
GMP charge
|
-
|
-
|
-
|
|
(140)
|
-
|
-
|
-
|
|
-
|
Litigation and conduct
|
(88)
|
(1)
|
(39)
|
|
(12)
|
(19)
|
(31)
|
(1,535)
|
|
(75)
|
Total operating expenses
|
(147)
|
(45)
|
(91)
|
|
(234)
|
(83)
|
(67)
|
(1,594)
|
|
(192)
|
Other net income/(expenses)
|
6
|
15
|
(22)
|
|
7
|
7
|
(23)
|
7
|
|
(3)
|
Loss before tax
|
(204)
|
(169)
|
(220)
|
|
(231)
|
(129)
|
(58)
|
(1,819)
|
|
(365)
|
Attributable loss1
|
(184)
|
(126)
|
(172)
|
|
(234)
|
(147)
|
(120)
|
(1,699)
|
|
(369)
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
Total assets
|
22.9
|
22.4
|
21.4
|
|
21.5
|
18.6
|
17.2
|
40.4
|
|
39.7
|
Risk weighted assets
|
13.4
|
28.1
|
27.0
|
|
26.0
|
26.8
|
26.3
|
31.2
|
|
31.8
|
Period end allocated tangible equity
|
5.5
|
7.0
|
4.5
|
|
4.9
|
4.2
|
3.6
|
3.0
|
|
10.0
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
5.8
|
4.8
|
4.3
|
|
2.9
|
3.4
|
2.0
|
4.3
|
|
10.0
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Loss before tax
|
(116)
|
(168)
|
(181)
|
|
(219)
|
(110)
|
(27)
|
(284)
|
|
(290)
|
Attributable loss
|
(118)
|
(124)
|
(144)
|
|
(218)
|
(136)
|
(96)
|
(192)
|
|
(305)
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact EPS or return on average tangible
shareholders’ equity.
|
2
|
Refer to pages 36 to 45 for further information and calculations of
performance measures excluding litigation and conduct.
|
Margins and
balances
|
|
|
|
|
|
|
|
Nine months ended 30.09.19
|
Nine months ended 30.09.181
|
||||
|
Net interest income
|
Average customer assets
|
Net interest margin
|
Net interest income
|
Average customer assets
|
Net interest margin
|
|
£m
|
£m
|
%
|
£m
|
£m
|
%
|
Barclays UK
|
4,410
|
189,994
|
3.10
|
4,515
|
186,474
|
3.24
|
Barclays International2
|
2,985
|
99,862
|
4.00
|
2,972
|
95,693
|
4.15
|
Total Barclays UK and Barclays International
|
7,395
|
289,856
|
3.41
|
7,487
|
282,167
|
3.55
|
Other3
|
(332)
|
|
|
(723)
|
|
|
Total Group4
|
7,063
|
|
|
6,764
|
|
|
1
|
The Group’s treasury results are reported directly within
Barclays UK and Barclays International from Q218 following
ring-fencing, resulting in gains and losses made on certain
activities being recognised as Other income, rather than in Net
interest income.
|
2
|
Barclays International margins include interest earning lending
balances within the investment banking
business.
|
3
|
Other includes Head Office and non-lending related investment
banking businesses not included in Barclays International
margins.
|
4
|
The Group’s combined product and equity structural hedge
notional as at 30 September 2019 was £173bn, with an average
duration of 2.5 to 3 years. Group net interest income includes
gross structural hedge contributions of £1.4bn (Q318 YTD:
£1.3bn) and net structural hedge contributions of £0.4bn
(Q318 YTD: £0.6bn). Gross structural
hedge
contributions represent the absolute level of interest earned from
the fixed receipts on the basket of swaps in the structural hedge,
while the net structural hedge contributions represent the net
interest earned on the difference between the structural hedge rate
and prevailing floating
rates.
|
Quarterly analysis for Barclays UK and Barclays
International
|
Net interest income
|
Average customer assets
|
Net interest margin
|
Three months ended 30.09.19
|
£m
|
£m
|
%
|
Barclays UK
|
1,503
|
192,262
|
3.10
|
Barclays International1
|
1,038
|
100,589
|
4.10
|
Total Barclays UK and Barclays International
|
2,541
|
292,851
|
3.44
|
|
|
|
|
Three months ended 30.06.19
|
|
|
|
Barclays UK
|
1,438
|
189,172
|
3.05
|
Barclays International1
|
980
|
100,645
|
3.91
|
Total Barclays UK and Barclays International
|
2,418
|
289,817
|
3.35
|
|
|
|
|
Three months ended 31.03.19
|
|
|
|
Barclays UK
|
1,469
|
187,570
|
3.18
|
Barclays International1
|
967
|
98,313
|
3.99
|
Total Barclays UK and Barclays International
|
2,436
|
285,883
|
3.46
|
|
|
|
|
Three months ended 31.12.18
|
|
|
|
Barclays UK
|
1,513
|
187,813
|
3.20
|
Barclays International1
|
994
|
99,137
|
3.98
|
Total Barclays UK and Barclays International
|
2,507
|
286,950
|
3.47
|
|
|
|
|
Three months ended 30.09.18
|
|
|
|
Barclays UK
|
1,529
|
188,239
|
3.22
|
Barclays International1
|
945
|
96,785
|
3.87
|
Total Barclays UK and Barclays International
|
2,474
|
285,024
|
3.44
|
|
Gross exposure
|
|
Impairment allowance
|
Net
exposure
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
As at 30.09.19
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
142,242
|
22,362
|
2,660
|
167,264
|
|
189
|
1,296
|
1,118
|
2,603
|
164,661
|
Barclays International
|
28,865
|
4,223
|
1,969
|
35,057
|
|
360
|
864
|
1,420
|
2,644
|
32,413
|
Head Office
|
5,134
|
532
|
874
|
6,540
|
|
7
|
41
|
314
|
362
|
6,178
|
Total Barclays Group retail
|
176,241
|
27,117
|
5,503
|
208,861
|
|
556
|
2,201
|
2,852
|
5,609
|
203,252
|
Barclays UK
|
28,667
|
3,484
|
1,201
|
33,352
|
|
13
|
45
|
114
|
172
|
33,180
|
Barclays International
|
94,613
|
10,205
|
1,691
|
106,509
|
|
137
|
268
|
439
|
844
|
105,665
|
Head Office
|
3,025
|
-
|
40
|
3,065
|
|
-
|
-
|
38
|
38
|
3,027
|
Total Barclays Group wholesale
|
126,305
|
13,689
|
2,932
|
142,926
|
|
150
|
313
|
591
|
1,054
|
141,872
|
Total loans and advances at amortised cost
|
302,546
|
40,806
|
8,435
|
351,787
|
|
706
|
2,514
|
3,443
|
6,663
|
345,124
|
Off-balance sheet loan commitments and financial guarantee
contracts1
|
335,072
|
19,774
|
734
|
355,580
|
|
102
|
171
|
50
|
323
|
355,257
|
Total2
|
637,618
|
60,580
|
9,169
|
707,367
|
|
808
|
2,685
|
3,493
|
6,986
|
700,381
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 30.09.19
|
|
Period ended 30.09.19
|
|
||||||
|
Coverage ratio
|
|
Loan impairment charge and loan loss
rate3
|
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Loan impairment charge
|
Loan loss rate
|
|
||
|
%
|
%
|
%
|
%
|
|
£m
|
bps
|
|
||
Barclays UK
|
0.1
|
5.8
|
42.0
|
1.6
|
|
|
489
|
|
39
|
|
Barclays International
|
1.2
|
20.5
|
72.1
|
7.5
|
|
|
704
|
|
268
|
|
Head Office
|
0.1
|
7.7
|
35.9
|
5.5
|
|
|
23
|
|
47
|
|
Total Barclays Group retail
|
0.3
|
8.1
|
51.8
|
2.7
|
|
|
1,216
|
|
78
|
|
Barclays UK
|
-
|
1.3
|
9.5
|
0.5
|
|
|
27
|
|
11
|
|
Barclays International
|
0.1
|
2.6
|
26.0
|
0.8
|
|
|
84
|
|
11
|
|
Head Office
|
-
|
-
|
95.0
|
1.2
|
|
|
-
|
|
-
|
|
Total Barclays Group wholesale
|
0.1
|
2.3
|
20.2
|
0.7
|
|
|
111
|
|
10
|
|
Total loans and advances at amortised cost
|
0.2
|
6.2
|
40.8
|
1.9
|
|
|
1,327
|
|
50
|
|
Off-balance sheet loan commitments and financial guarantee
contracts1
|
-
|
0.9
|
6.8
|
0.1
|
|
|
57
|
|
|
|
Other financial assets subject to impairment2
|
|
|
|
|
|
|
5
|
|
|
|
Total
|
0.1
|
4.4
|
38.1
|
1.0
|
|
|
1,389
|
|
|
|
1
|
Excludes loan commitments and financial guarantees of £14.6bn
carried at fair value.
|
2
|
Other financial assets subject to impairment not included in the
table above include cash collateral and settlement balances,
financial assets at fair value through other comprehensive income
and other assets. These have a total gross exposure of
£192.1bn and impairment allowance of £21m. This comprises
£12m Expected Credit Loss (ECL) on £192.1bn stage 1
assets, £0.2m on £18m stage 2 fair value through other
comprehensive income, cash collateral and settlement assets and
£9m on £9m stage 3 other assets.
|
3
|
Q319 loan impairment charge represents nine months of impairment
charge, annualised to calculate the loan loss rate. The loan loss
rate for Q319 is 53bps after applying the total impairment charge
of £1,389m.
|
|
Gross exposure
|
|
Impairment allowance
|
Net
exposure
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
As at 31.12.18
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
134,911
|
25,279
|
3,040
|
163,230
|
|
183
|
1,389
|
1,152
|
2,724
|
160,506
|
Barclays International
|
26,714
|
4,634
|
1,830
|
33,178
|
|
352
|
965
|
1,315
|
2,632
|
30,546
|
Head Office
|
6,510
|
636
|
938
|
8,084
|
|
9
|
47
|
306
|
362
|
7,722
|
Total Barclays Group retail
|
168,135
|
30,549
|
5,808
|
204,492
|
|
544
|
2,401
|
2,773
|
5,718
|
198,774
|
Barclays UK
|
22,824
|
4,144
|
1,272
|
28,240
|
|
16
|
70
|
117
|
203
|
28,037
|
Barclays International
|
87,344
|
8,754
|
1,382
|
97,480
|
|
128
|
244
|
439
|
811
|
96,669
|
Head Office
|
2,923
|
-
|
41
|
2,964
|
|
-
|
-
|
38
|
38
|
2,926
|
Total Barclays Group wholesale
|
113,091
|
12,898
|
2,695
|
128,684
|
|
144
|
314
|
594
|
1,052
|
127,632
|
Total loans and advances at amortised cost
|
281,226
|
43,447
|
8,503
|
333,176
|
|
688
|
2,715
|
3,367
|
6,770
|
326,406
|
Off-balance sheet loan commitments and financial guarantee
contracts1
|
309,989
|
22,126
|
684
|
332,799
|
|
99
|
150
|
22
|
271
|
332,528
|
Total2
|
591,215
|
65,573
|
9,187
|
665,975
|
|
787
|
2,865
|
3,389
|
7,041
|
658,934
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 31.12.18
|
|
Year ended 31.12.18
|
|
||||||
|
Coverage ratio
|
|
Loan impairment charge and loan loss rate
|
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Loan impairment charge
|
Loan loss rate
|
|
||
|
%
|
%
|
%
|
%
|
|
£m
|
|
bps
|
|
|
Barclays UK
|
0.1
|
5.5
|
37.9
|
1.7
|
|
|
830
|
|
51
|
|
Barclays International
|
1.3
|
20.8
|
71.9
|
7.9
|
|
|
844
|
|
254
|
|
Head Office
|
0.1
|
7.4
|
32.6
|
4.5
|
|
|
15
|
|
19
|
|
Total Barclays Group retail
|
0.3
|
7.9
|
47.7
|
2.8
|
|
|
1,689
|
|
83
|
|
Barclays UK
|
0.1
|
1.7
|
9.2
|
0.7
|
|
|
74
|
|
26
|
|
Barclays International
|
0.1
|
2.8
|
31.8
|
0.8
|
|
|
(142)
|
|
-
|
|
Head Office
|
-
|
-
|
92.7
|
1.3
|
|
|
(31)
|
|
-
|
|
Total Barclays Group wholesale
|
0.1
|
2.4
|
22.0
|
0.8
|
|
|
(99)
|
|
-
|
|
Total loans and advances at amortised cost
|
0.2
|
6.2
|
39.6
|
2.0
|
|
|
1,590
|
|
48
|
|
Off-balance sheet loan commitments and financial guarantee
contracts1
|
-
|
0.7
|
3.2
|
0.1
|
|
|
(125)
|
|
|
|
Other financial assets subject to impairment2
|
|
|
|
|
|
|
3
|
|
|
|
Total
|
0.1
|
4.4
|
36.9
|
1.1
|
|
|
1,468
|
|
|
|
1
|
Excludes loan commitments and financial guarantees of £11.7bn
carried at fair value.
|
2
|
Other financial assets subject to impairment not included in the
table above include cash collateral and settlement balances,
financial assets at fair value through other comprehensive income
and other assets. These have a total gross exposure of
£129.9bn and impairment allowance of £12m. This comprises
£10m ECL on £129.3bn stage 1 assets and £2m on
£0.6bn stage 2 fair value through other comprehensive income
assets.
|
|
|
Stage 2
|
|
|
|||
As at 30.09.19
|
Stage 1
|
Not past due
|
<=30 days past due
|
>30 days past due
|
Total
|
Stage 3
|
Total
|
Gross exposure
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Home loans
|
135,373
|
13,687
|
1,695
|
733
|
16,115
|
2,272
|
153,760
|
Credit cards, unsecured loans and other retail lending
|
48,442
|
9,937
|
502
|
514
|
10,953
|
3,574
|
62,969
|
Corporate loans
|
118,731
|
12,103
|
435
|
1,200
|
13,738
|
2,589
|
135,058
|
Total
|
302,546
|
35,727
|
2,632
|
2,447
|
40,806
|
8,435
|
351,787
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Home loans
|
28
|
50
|
15
|
14
|
79
|
351
|
458
|
Credit cards, unsecured loans and other retail lending
|
550
|
1,692
|
158
|
255
|
2,105
|
2,551
|
5,206
|
Corporate loans
|
128
|
310
|
14
|
6
|
330
|
541
|
999
|
Total
|
706
|
2,052
|
187
|
275
|
2,514
|
3,443
|
6,663
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Home loans
|
135,345
|
13,637
|
1,680
|
719
|
16,036
|
1,921
|
153,302
|
Credit cards, unsecured loans and other retail lending
|
47,892
|
8,245
|
344
|
259
|
8,848
|
1,023
|
57,763
|
Corporate loans
|
118,603
|
11,793
|
421
|
1,194
|
13,408
|
2,048
|
134,059
|
Total
|
301,840
|
33,675
|
2,445
|
2,172
|
38,292
|
4,992
|
345,124
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Home loans
|
-
|
0.4
|
0.9
|
1.9
|
0.5
|
15.4
|
0.3
|
Credit cards, unsecured loans and other retail lending
|
1.1
|
17.0
|
31.5
|
49.6
|
19.2
|
71.4
|
8.3
|
Corporate loans
|
0.1
|
2.6
|
3.2
|
0.5
|
2.4
|
20.9
|
0.7
|
Total
|
0.2
|
5.7
|
7.1
|
11.2
|
6.2
|
40.8
|
1.9
|
|
|
|
|
|
|
|
|
As at 31.12.18
|
|
|
|
|
|
|
|
Gross exposure
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Home loans
|
130,066
|
15,672
|
1,672
|
862
|
18,206
|
2,476
|
150,748
|
Credit cards, unsecured loans and other retail lending
|
45,785
|
11,262
|
530
|
437
|
12,229
|
3,760
|
61,774
|
Corporate loans
|
105,375
|
12,177
|
360
|
475
|
13,012
|
2,267
|
120,654
|
Total
|
281,226
|
39,111
|
2,562
|
1,774
|
43,447
|
8,503
|
333,176
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Home loans
|
31
|
56
|
13
|
13
|
82
|
351
|
464
|
Credit cards, unsecured loans and other retail lending
|
528
|
1,895
|
169
|
240
|
2,304
|
2,511
|
5,343
|
Corporate loans
|
129
|
300
|
16
|
13
|
329
|
505
|
963
|
Total
|
688
|
2,251
|
198
|
266
|
2,715
|
3,367
|
6,770
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Home loans
|
130,035
|
15,616
|
1,659
|
849
|
18,124
|
2,125
|
150,284
|
Credit cards, unsecured loans and other retail lending
|
45,257
|
9,367
|
361
|
197
|
9,925
|
1,249
|
56,431
|
Corporate loans
|
105,246
|
11,877
|
344
|
462
|
12,683
|
1,762
|
119,691
|
Total
|
280,538
|
36,860
|
2,364
|
1,508
|
40,732
|
5,136
|
326,406
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Home loans
|
-
|
0.4
|
0.8
|
1.5
|
0.5
|
14.2
|
0.3
|
Credit cards, unsecured loans and other retail lending
|
1.2
|
16.8
|
31.9
|
54.9
|
18.8
|
66.8
|
8.6
|
Corporate loans
|
0.1
|
2.5
|
4.4
|
2.7
|
2.5
|
22.3
|
0.8
|
Total
|
0.2
|
5.8
|
7.7
|
15.0
|
6.2
|
39.6
|
2.0
|
Capital
ratios1,2,3
|
As at
|
As at
|
As at
|
30.09.19
|
30.06.19
|
31.12.18
|
|
CET1
|
13.4%
|
13.4%
|
13.2%
|
Tier 1 (T1)
|
17.0%
|
17.4%
|
17.0%
|
Total regulatory capital
|
21.1%
|
21.4%
|
20.7%
|
|
|
|
|
Capital resources
|
£bn
|
£bn
|
£bn
|
Total equity excluding non-controlling interests per the balance
sheet
|
66.2
|
67.6
|
62.6
|
Less: other equity instruments (recognised as AT1
capital)
|
(10.9)
|
(12.1)
|
(9.6)
|
Adjustment to retained earnings for foreseeable
dividends
|
(0.7)
|
(0.8)
|
(0.7)
|
|
|
|
|
Other regulatory adjustments and deductions
|
|
|
|
Additional value adjustments (PVA)
|
(1.9)
|
(1.8)
|
(1.7)
|
Goodwill and intangible assets
|
(8.1)
|
(8.0)
|
(8.0)
|
Deferred tax assets that rely on future profitability excluding
temporary differences
|
(0.3)
|
(0.4)
|
(0.5)
|
Fair value reserves related to gains or losses on cash flow
hedges
|
(1.5)
|
(1.2)
|
(0.7)
|
Gains or losses on liabilities at fair value resulting from own
credit
|
-
|
(0.1)
|
(0.1)
|
Defined benefit pension fund assets
|
(2.0)
|
(1.4)
|
(1.3)
|
Direct and indirect holdings by an institution of own CET1
instruments
|
(0.1)
|
(0.1)
|
(0.1)
|
Adjustment under IFRS 9 transitional arrangements
|
1.1
|
1.2
|
1.3
|
Other regulatory adjustments
|
(0.1)
|
-
|
-
|
CET1 capital
|
41.9
|
42.9
|
41.1
|
|
|
|
|
AT1 capital
|
|
|
|
Capital instruments and related share premium accounts
|
10.9
|
12.1
|
9.6
|
Qualifying AT1 capital (including minority interests) issued by
subsidiaries
|
0.8
|
0.7
|
2.4
|
Other regulatory adjustments and deductions
|
(0.1)
|
(0.1)
|
(0.1)
|
AT1 capital
|
11.5
|
12.7
|
11.9
|
|
|
|
|
T1 capital
|
53.4
|
55.6
|
53.0
|
|
|
|
|
T2 capital
|
|
|
|
Capital instruments and related share premium accounts
|
8.3
|
8.0
|
6.6
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries
|
4.7
|
5.0
|
5.3
|
Other regulatory adjustments and deductions
|
(0.3)
|
(0.3)
|
(0.3)
|
Total regulatory capital
|
66.1
|
68.3
|
64.6
|
|
|
|
|
Total RWAs
|
313.3
|
319.1
|
311.9
|
1
|
CET1, T1 and T2 capital, and RWAs are calculated applying the
transitional arrangements of the CRR as amended by CRR II
applicable as at the reporting date. This includes IFRS 9
transitional arrangements and the grandfathering of CRR and CRR II
non-compliant capital instruments.
|
2
|
The fully loaded CET1 ratio, as is relevant for assessing against
the conversion trigger in Barclays PLC AT1 securities, was 13.0%,
with £40.7bn of CET1 capital and £313.1bn of RWAs
calculated without applying the transitional arrangements of the
CRR as amended by CRR II applicable as at the reporting
date.
|
3
|
The Group’s CET1 ratio, as is relevant for assessing against
the conversion trigger in Barclays Bank PLC T2 Contingent Capital
Notes, was 13.4%. For this calculation CET1 capital and RWAs are
calculated applying the transitional arrangements under the CRR,
including the IFRS 9 transitional arrangements. The benefit of the
Financial Services Authority (FSA) October 2012 interpretation of
the transitional provisions, relating to the implementation of CRD
IV, expired in December 2017.
|
Movement in CET1
capital
|
Three months
|
Nine months
|
ended
|
ended
|
|
30.09.19
|
30.09.19
|
|
£bn
|
£bn
|
|
Opening CET1 capital
|
42.9
|
41.1
|
|
|
|
Profit for the period attributable to equity holders
|
-
|
2.4
|
Dividends paid and foreseen
|
(0.6)
|
(1.8)
|
(Decrease)/increase in retained regulatory capital generated from
earnings
|
(0.7)
|
0.6
|
|
|
|
Net impact of share schemes
|
0.1
|
0.2
|
Fair value through other comprehensive income reserve
|
(0.2)
|
0.3
|
Currency translation reserve
|
0.5
|
0.7
|
Other reserves
|
(0.4)
|
(0.4)
|
Increase in other qualifying reserves
|
-
|
0.7
|
|
|
|
Pension remeasurements within reserves
|
0.4
|
0.3
|
Defined benefit pension fund asset deduction
|
(0.6)
|
(0.7)
|
Net impact of pensions
|
(0.2)
|
(0.4)
|
|
|
|
Additional value adjustments (PVA)
|
(0.1)
|
(0.1)
|
Goodwill and intangible assets
|
(0.1)
|
(0.1)
|
Deferred tax assets that rely on future profitability excluding
those arising from temporary differences
|
0.1
|
0.2
|
Adjustment under IFRS 9 transitional arrangements
|
(0.1)
|
(0.2)
|
Decrease in regulatory capital due to adjustments and
deductions
|
(0.2)
|
(0.2)
|
|
|
|
Closing CET1 capital
|
41.9
|
41.9
|
|
|
|
Movement analysis of
RWAs
|
|||||
|
Credit risk
|
Counterparty credit risk
|
Market risk
|
Operational risk
|
Total RWAs
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Opening RWAs (as at 31.12.18)
|
195.6
|
28.8
|
30.8
|
56.7
|
311.9
|
Book size
|
4.2
|
6.1
|
(0.3)
|
-
|
10.0
|
Acquisitions and disposals
|
(0.2)
|
-
|
-
|
-
|
(0.2)
|
Book quality
|
(1.2)
|
(0.2)
|
-
|
-
|
(1.4)
|
Model updates
|
0.8
|
0.5
|
-
|
-
|
1.3
|
Methodology and policy
|
2.1
|
(0.4)
|
2.0
|
(14.2)
|
(10.5)
|
Foreign exchange movements1
|
2.2
|
-
|
-
|
-
|
2.2
|
Closing RWAs (as at 30.09.19)
|
203.5
|
34.8
|
32.5
|
42.5
|
313.3
|
1
|
Foreign exchange movements does not include foreign exchange for
counterparty credit risk or market risk.
|
●
|
‘Book size’ increased RWAs by £10.0bn primarily
driven by increased CIB activity
|
●
|
‘Book quality’ decreased RWAs by £1.4bn primarily
due to changes in risk profile within Barclays
International
|
●
|
‘Model updates’ increased £1.3bn primarily due to
the recalibration of modelled wholesale RWAs
|
●
|
‘Methodology and policy’ decreased RWAs by £10.5bn
primarily due to removal of the operational risk floor
|
●
|
‘Foreign exchange movements’ increased RWAs by
£2.2bn primarily due to the appreciation of period end USD
against GBP.
|
Leverage
ratios1,2
|
As at
30.09.19
|
As at
30.06.19
|
As at
31.12.18
|
£bn
|
£bn
|
£bn
|
|
Average UK leverage ratio
|
4.6%
|
4.7%
|
4.5%
|
Average T1 capital3
|
53.8
|
53.8
|
50.5
|
Average UK leverage exposure
|
1,171
|
1,135
|
1,110
|
|
|
|
|
UK leverage ratio
|
4.8%
|
5.1%
|
5.1%
|
|
|
|
|
CET1 capital
|
41.9
|
42.9
|
41.1
|
AT1 capital
|
10.7
|
12.0
|
9.5
|
T1 capital3
|
52.6
|
54.9
|
50.6
|
|
|
|
|
UK leverage exposure
|
1,100
|
1,079
|
999
|
|
|
|
|
UK leverage exposure
|
|
|
|
Accounting assets
|
|
|
|
Derivative financial instruments
|
286
|
244
|
223
|
Derivative cash collateral
|
69
|
59
|
48
|
Securities financing transactions (SFTs)4
|
142
|
144
|
130
|
Loans and advances and other assets4
|
793
|
786
|
732
|
Total IFRS assets
|
1,290
|
1,233
|
1,133
|
|
|
|
|
Regulatory consolidation adjustments
|
1
|
(1)
|
(2)
|
|
|
|
|
Derivatives adjustments
|
|
|
|
Derivatives netting
|
(263)
|
(223)
|
(202)
|
Adjustments to cash collateral
|
(61)
|
(51)
|
(42)
|
Net written credit protection
|
16
|
15
|
19
|
Potential future exposure (PFE) on derivatives
|
134
|
127
|
123
|
Total derivatives adjustments
|
(174)
|
(132)
|
(102)
|
|
|
|
|
SFTs adjustments
|
18
|
17
|
17
|
|
|
|
|
Regulatory deductions and other adjustments
|
(13)
|
(12)
|
(11)
|
|
|
|
|
Weighted off-balance sheet commitments
|
114
|
110
|
108
|
|
|
|
|
Qualifying central bank claims
|
(136)
|
(136)
|
(144)
|
|
|
|
|
UK leverage exposure2
|
1,100
|
1,079
|
999
|
1
|
Fully loaded average UK leverage ratio was 4.5%, with £1,170bn
of leverage exposure. Fully loaded UK leverage ratio was 4.7%, with
£51.5bn of T1 capital and £1,099bn of leverage exposure.
Fully loaded UK leverage ratios are calculated without applying the
transitional arrangements of the CRR as amended by CRR II
applicable as at the reporting
date.
|
2
|
Capital and leverage measures are calculated applying the
transitional arrangements of the CRR as amended by CRR II
applicable as at the reporting date.
|
3
|
T1 capital is calculated in line with the PRA
Handbook.
|
4
|
Comparative numbers have been revised to reflect the allocation of
margin lending from Loans and advances and other assets to
SFTs.
|
1
|
CRR leverage ratio as amended by CRR II applicable as at the
reporting date.
|
|
●
|
Loss
absorption and recapitalisation amounts consisting of two times the
8% Pillar 1 and 5.3% Pillar 2A requirement
|
|
●
|
Capital
buffers including a 1.5% G-SII buffer, 2.5% CCB and 0.5%
CCyB
|
Own
funds and eligible liabilities ratios1
|
As at
30.09.19
|
As at
30.06.19
|
As at
31.12.183
|
CET1 capital
|
13.4%
|
13.4%
|
13.2%
|
AT1 capital instruments and related share premium
accounts2
|
3.4%
|
3.8%
|
3.1%
|
T2 capital instruments and related share premium
accounts2
|
2.6%
|
2.4%
|
2.1%
|
Eligible liabilities
|
11.0%
|
10.6%
|
9.7%
|
Total Barclays PLC (the Parent company) own funds and eligible
liabilities
|
30.4%
|
30.2%
|
28.1%
|
Qualifying AT1 capital (including minority interests) issued by
subsidiaries
|
0.2%
|
0.2%
|
0.7%
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries
|
1.5%
|
1.6%
|
1.6%
|
Total own funds and eligible liabilities, including eligible
Barclays Bank PLC instruments
|
32.1%
|
32.0%
|
30.5%
|
|
|
|
|
Own
funds and eligible liabilities1
|
£bn
|
£bn
|
£bn3
|
CET1 capital
|
41.9
|
42.9
|
41.1
|
AT1 capital instruments and related share premium
accounts2
|
10.7
|
12.0
|
9.6
|
T2 capital instruments and related share premium
accounts2
|
8.1
|
7.8
|
6.6
|
Eligible liabilities
|
34.5
|
33.7
|
30.4
|
Total Barclays PLC (the Parent company) own funds and eligible
liabilities
|
95.2
|
96.4
|
87.7
|
Qualifying AT1 capital (including minority interests) issued by
subsidiaries
|
0.8
|
0.7
|
2.3
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries
|
4.7
|
5.0
|
5.1
|
Total own funds and eligible liabilities, including eligible
Barclays Bank PLC instruments
|
100.6
|
102.0
|
95.1
|
|
|
|
|
Total RWAs1
|
313.3
|
319.1
|
311.9
|
1
|
CET1, T1 and T2 capital, and RWAs are calculated applying the
transitional arrangements of the CRR as amended by CRR II
applicable as at the reporting date. This includes IFRS 9
transitional arrangements and the grandfathering of CRR and CRR II
non-compliant capital instruments.
|
2
|
Includes other AT1 capital regulatory adjustments and deductions of
£0.1bn (included in AT1 issued by subsidiaries in December
2018: £0.1bn), and other T2 credit risk adjustments and
deductions of £0.2bn (included in T2 issued by subsidiaries in
December 2018: £0.3bn).
|
3
|
The comparatives are based on the Bank of England's statement of
policy on MREL.
|
Condensed consolidated income
statement
|
|||
|
|
Nine months ended
|
Nine months ended
|
|
|
30.09.19
|
30.09.18
|
|
|
£m
|
£m
|
Total income
|
|
16,331
|
16,063
|
Credit impairment charges and other provisions
|
|
(1,389)
|
(825)
|
Net operating income
|
|
14,942
|
15,238
|
Operating expenses excluding litigation and conduct
|
|
(10,051)
|
(10,003)
|
Litigation and conduct
|
|
(1,682)
|
(2,147)
|
Operating expenses
|
|
(11,733)
|
(12,150)
|
Other net income
|
|
51
|
32
|
Profit before tax
|
|
3,260
|
3,120
|
Tax charge1
|
|
(814)
|
(836)
|
Profit after tax
|
|
2,446
|
2,284
|
|
|
|
|
Attributable to:
|
|
|
|
Equity holders of the parent1
|
|
1,780
|
1,611
|
Other equity instrument holders
|
|
628
|
522
|
Total equity holders of the parent
|
|
2,408
|
2,133
|
Non-controlling interests
|
|
38
|
151
|
Profit after tax
|
|
2,446
|
2,284
|
|
|
|
|
Earnings per share
|
|
p
|
p
|
Basic earnings per ordinary share
|
|
10.4
|
9.4
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated, reducing the
tax charge for Q318 YTD by £141m. This change does not impact
EPS or return on average
tangible shareholders’ equity.
|
Condensed consolidated balance sheet
|
|||
|
|
As at
|
As at
|
|
|
30.09.191
|
31.12.18
|
Assets
|
|
£m
|
£m
|
Cash and balances at central banks
|
|
156,668
|
177,069
|
Cash collateral and settlement balances
|
|
116,699
|
77,222
|
Loans and advances at amortised cost
|
|
345,124
|
326,406
|
Reverse repurchase agreements and other similar secured
lending
|
|
2,653
|
2,308
|
Trading portfolio assets
|
|
120,491
|
104,187
|
Financial assets at fair value through the income
statement
|
|
162,882
|
149,648
|
Derivative financial instruments
|
|
286,403
|
222,538
|
Financial assets at fair value through other comprehensive
income
|
|
74,844
|
52,816
|
Investments in associates and joint ventures
|
|
761
|
762
|
Goodwill and intangible assets
|
|
8,068
|
7,973
|
Current tax assets
|
|
603
|
798
|
Deferred tax assets
|
|
2,879
|
3,828
|
Other assets
|
|
12,276
|
7,728
|
Total assets
|
|
1,290,351
|
1,133,283
|
|
|
|
|
Liabilities
|
|
|
|
Deposits at amortised cost
|
|
420,638
|
394,838
|
Cash collateral and settlement balances
|
|
103,980
|
67,522
|
Repurchase agreements and other similar secured
borrowing
|
|
18,460
|
18,578
|
Debt securities in issue
|
|
86,588
|
82,286
|
Subordinated liabilities
|
|
19,435
|
20,559
|
Trading portfolio liabilities
|
|
43,048
|
37,882
|
Financial liabilities designated at fair value
|
|
233,734
|
216,834
|
Derivative financial instruments
|
|
283,529
|
219,643
|
Current tax liabilities
|
|
722
|
628
|
Deferred tax liabilities
|
|
-
|
51
|
Other liabilities
|
|
12,799
|
10,683
|
Total liabilities
|
|
1,222,933
|
1,069,504
|
|
|
|
|
Equity
|
|
|
|
Called up share capital and share premium
|
|
4,527
|
4,311
|
Other reserves
|
|
6,943
|
5,153
|
Retained earnings
|
|
43,867
|
43,460
|
Shareholders' equity attributable to ordinary shareholders of the
parent
|
|
55,337
|
52,924
|
Other equity instruments
|
|
10,860
|
9,632
|
Total equity excluding non-controlling interests
|
|
66,197
|
62,556
|
Non-controlling interests
|
|
1,221
|
1,223
|
Total equity
|
|
67,418
|
63,779
|
|
|
|
|
Total liabilities and equity
|
|
1,290,351
|
1,133,283
|
1
|
Barclays adopted the accounting standard IFRS 16 on 1 January 2019.
The impact on adoption was an increase in property, plant and
equipment of £1.6bn, an increase in other liabilities of
£1.6bn, with no material impact on retained earnings.
|
|
As at
|
As at
|
|
30.09.19
|
31.12.18
|
Other reserves
|
£m
|
£m
|
Currency translation reserve
|
4,605
|
3,888
|
Fair value through other comprehensive income reserve
|
8
|
(258)
|
Cash flow hedging reserve
|
1,516
|
660
|
Own credit reserve
|
(167)
|
(121)
|
Other reserves and treasury shares
|
981
|
984
|
Total
|
6,943
|
5,153
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. This change does not impact EPS or return on
average tangible shareholders’ equity.
|
|
As at
|
As at
|
|
30.09.19
|
31.12.18
|
Assets
|
£m
|
£m
|
Investment in subsidiaries
|
59,689
|
57,374
|
Loans and advances to subsidiaries
|
30,758
|
29,374
|
Financial assets at fair value through the income
statement
|
11,207
|
6,945
|
Derivative financial instruments
|
98
|
168
|
Other assets
|
68
|
115
|
Total assets
|
101,820
|
93,976
|
|
|
|
Liabilities
|
|
|
Deposits at amortised cost
|
537
|
576
|
Debt securities in issue
|
33,090
|
32,373
|
Subordinated liabilities
|
8,191
|
6,775
|
Financial liabilities designated at fair value
|
3,650
|
-
|
Other liabilities
|
121
|
72
|
Total liabilities
|
45,589
|
39,796
|
|
|
|
Equity
|
|
|
Called up share capital
|
4,317
|
4,283
|
Share premium account
|
210
|
28
|
Other equity instruments
|
10,865
|
9,633
|
Other reserves
|
394
|
394
|
Retained earnings
|
40,445
|
39,842
|
Total equity
|
56,231
|
54,180
|
|
|
|
Total liabilities and equity
|
101,820
|
93,976
|
Measure
|
Definition
|
Loan:
deposit ratio
|
Loans
and advances at amortised cost divided by deposits at amortised
cost.
|
Period
end allocated tangible equity
|
Allocated tangible
equity is calculated as 13.0% (2018: 13.0%) of RWAs for each
business, adjusted for capital deductions, excluding goodwill and
intangible assets, reflecting the assumptions the Group uses for
capital planning purposes. Head Office allocated tangible equity
represents the difference between the Group’s tangible
shareholders’ equity and the amounts allocated to
businesses.
|
Average
tangible shareholders’ equity
|
Calculated as the
average of the previous month’s period end tangible equity
and the current month’s period end tangible equity. The
average tangible shareholders’ equity for the period is the
average of the monthly averages within that period.
|
Average
allocated tangible equity
|
Calculated as the
average of the previous month’s period end allocated tangible
equity and the current month’s period end allocated tangible
equity. The average allocated tangible equity for the period is the
average of the monthly averages within that period.
|
Return
on average tangible shareholders’ equity
|
Annualised profit
after tax attributable to ordinary equity holders of the parent, as
a proportion of average shareholders’ equity excluding
non-controlling interests and other equity instruments adjusted for
the deduction of intangible assets and goodwill. The components of
the calculation have been included on page 37.
|
Return
on average allocated tangible equity
|
Annualised profit
after tax attributable to ordinary equity holders of the parent, as
a proportion of average allocated tangible equity. The components
of the calculation have been included on page 37.
|
Cost:
income ratio
|
Total
operating expenses divided by total income.
|
Loan
loss rate
|
Quoted
in basis points and represents total annualised impairment charges
divided by gross loans and advances held at amortised cost at the
balance sheet date. The components of the calculation have been
included on page 22.
|
Net
interest margin
|
Annualised net
interest income divided by the sum of average customer assets. The
components of the calculation have been included on page
21.
|
Tangible net asset
value per share
|
Calculated by
dividing shareholders’ equity, excluding non-controlling
interests and other equity instruments, less goodwill and
intangible assets, by the number of issued ordinary shares. The
components of the calculation have been included on page
45.
|
Performance
measures excluding litigation and conduct
|
Calculated by
excluding litigation and conduct charges from performance measures.
The components of the calculations have been included on pages 38
to 45.
|
|
(Loss)/profit attributable to ordinary equity holders of the
parent
|
|
Average tangible equity
|
|
Return on average tangible equity
|
Nine months ended 30.09.19
|
£m
|
|
£bn
|
|
%
|
Barclays UK
|
(157)
|
|
10.4
|
|
(2.0)
|
Corporate and Investment Bank
|
1,787
|
|
25.9
|
|
9.2
|
Consumer, Cards and Payments
|
632
|
|
5.3
|
|
15.8
|
Barclays International
|
2,419
|
|
31.2
|
|
10.3
|
Head Office
|
(482)
|
|
5.0
|
|
n/m
|
Barclays Group
|
1,780
|
|
46.6
|
|
5.1
|
|
|
|
|
|
|
Nine months ended 30.09.18
|
|
|
|
|
|
Barclays UK
|
957
|
|
10.0
|
|
12.7
|
Corporate and Investment Bank
|
1,865
|
|
26.0
|
|
9.6
|
Consumer, Cards and Payments
|
755
|
|
4.9
|
|
20.7
|
Barclays International
|
2,620
|
|
30.9
|
|
11.3
|
Head Office
|
(1,966)
|
|
3.2
|
|
n/m
|
Barclays Group
|
1,611
|
|
44.1
|
|
4.9
|
|
|
|
|
|
|
|
|
Nine months ended 30.09.18
|
|||||
|
Barclays UK
|
Corporate and Investment Bank
|
Consumer, Cards and Payments
|
Barclays International
|
Head Office
|
Barclays Group
|
Cost: income ratio
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Total operating expenses
|
(3,429)
|
(5,303)
|
(1,674)
|
(6,977)
|
(1,744)
|
(12,150)
|
Impact of litigation and conduct
|
468
|
45
|
49
|
94
|
1,585
|
2,147
|
Operating expenses
|
(2,961)
|
(5,258)
|
(1,625)
|
(6,883)
|
(159)
|
(10,003)
|
|
|
|
|
|
|
|
Total income
|
5,520
|
7,614
|
3,191
|
10,805
|
(262)
|
16,063
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
54%
|
69%
|
51%
|
64%
|
n/m
|
62%
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
Profit/(loss) before tax
|
1,566
|
2,508
|
1,052
|
3,560
|
(2,006)
|
3,120
|
Impact of litigation and conduct
|
468
|
45
|
49
|
94
|
1,585
|
2,147
|
Profit/(loss) before tax excluding litigation and
conduct
|
2,034
|
2,553
|
1,101
|
3,654
|
(421)
|
5,267
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
Attributable profit/(loss)
|
957
|
1,865
|
755
|
2,620
|
(1,966)
|
1,611
|
Post-tax impact of litigation and conduct
|
460
|
36
|
36
|
72
|
1,542
|
2,074
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
1,417
|
1,901
|
791
|
2,692
|
(424)
|
3,685
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Average shareholders' equity
|
13.5
|
26.3
|
5.9
|
32.2
|
6.2
|
51.9
|
Average goodwill and intangibles
|
(3.5)
|
(0.3)
|
(1.1)
|
(1.4)
|
(2.9)
|
(7.8)
|
Average tangible shareholders' equity
|
10.0
|
26.0
|
4.9
|
30.9
|
3.2
|
44.1
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity excluding
litigation and conduct
|
18.9%
|
9.7%
|
21.7%
|
11.6%
|
n/m
|
11.1%
|
|
|
|
|
|
|
|
Basic earnings per ordinary share
|
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
|
|
|
|
|
17,074
|
|
|
|
|
|
|
|
Basic earnings per ordinary share excluding litigation and
conduct
|
|
|
|
|
|
21.6p
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
|
Q319
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Cost: income ratio
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Total operating expenses
|
(4,861)
|
(3,554)
|
(3,318)
|
|
(4,093)
|
(3,434)
|
(3,391)
|
(5,325)
|
|
(4,369)
|
Impact of litigation and conduct
|
1,568
|
53
|
61
|
|
60
|
105
|
81
|
1,961
|
|
383
|
Operating expenses
|
(3,293)
|
(3,501)
|
(3,257)
|
|
(4,033)
|
(3,329)
|
(3,310)
|
(3,364)
|
|
(3,986)
|
|
|
|
|
|
|
|
|
|
|
|
Total income
|
5,541
|
5,538
|
5,252
|
|
5,073
|
5,129
|
5,576
|
5,358
|
|
5,022
|
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
59%
|
63%
|
62%
|
|
79%
|
65%
|
59%
|
63%
|
|
79%
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) before tax
|
246
|
1,531
|
1,483
|
|
374
|
1,461
|
1,895
|
(236)
|
|
93
|
Impact of litigation and conduct
|
1,568
|
53
|
61
|
|
60
|
105
|
81
|
1,961
|
|
383
|
Profit before tax excluding litigation and conduct
|
1,814
|
1,584
|
1,544
|
|
434
|
1,566
|
1,976
|
1,725
|
|
476
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable (loss)/profit
|
(292)
|
1,034
|
1,038
|
|
(14)
|
1,050
|
1,279
|
(718)
|
|
(1,245)
|
Post-tax impact of litigation and conduct
|
1,525
|
40
|
46
|
|
62
|
85
|
59
|
1,930
|
|
351
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
1,233
|
1,074
|
1,084
|
|
48
|
1,135
|
1,338
|
1,212
|
|
(894)
|
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
Average shareholders' equity
|
56.4
|
54.0
|
53.2
|
|
52.2
|
52.5
|
51.3
|
52.0
|
|
55.9
|
Average goodwill and intangibles
|
(8.0)
|
(7.8)
|
(8.0)
|
|
(7.9)
|
(7.9)
|
(7.8)
|
(7.8)
|
|
(7.8)
|
Average tangible shareholders' equity
|
48.4
|
46.2
|
45.2
|
|
44.3
|
44.6
|
43.5
|
44.2
|
|
48.1
|
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity excluding
litigation and conduct
|
10.2%
|
9.3%
|
9.6%
|
|
0.4%
|
10.2%
|
12.3%
|
11.0%
|
|
(7.4%)
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per ordinary share
|
|
|
|
|
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
17,192
|
17,178
|
17,111
|
|
17,075
|
17,074
|
17,067
|
17,037
|
|
16,996
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings/(loss) per ordinary share excluding litigation and
conduct
|
7.2p
|
6.3p
|
6.3p
|
|
0.3p
|
6.6p
|
7.8p
|
7.1p
|
|
(5.3p)
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
|
Q319
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Cost: income ratio
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Total operating expenses
|
(2,432)
|
(1,063)
|
(1,002)
|
|
(1,175)
|
(1,042)
|
(971)
|
(1,416)
|
|
(1,229)
|
Impact of litigation and conduct
|
1,480
|
41
|
3
|
|
15
|
54
|
3
|
411
|
|
53
|
Operating expenses
|
(952)
|
(1,022)
|
(999)
|
|
(1,160)
|
(988)
|
(968)
|
(1,005)
|
|
(1,176)
|
|
|
|
|
|
|
|
|
|
|
|
Total income
|
1,846
|
1,771
|
1,777
|
|
1,863
|
1,896
|
1,836
|
1,788
|
|
1,870
|
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
52%
|
58%
|
56%
|
|
62%
|
52%
|
53%
|
56%
|
|
63%
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit before tax
|
(687)
|
477
|
585
|
|
390
|
740
|
656
|
170
|
|
452
|
Impact of litigation and conduct
|
1,480
|
41
|
3
|
|
15
|
54
|
3
|
411
|
|
53
|
Profit before tax excluding litigation and conduct
|
793
|
518
|
588
|
|
405
|
794
|
659
|
581
|
|
505
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable (loss)/profit
|
(907)
|
328
|
422
|
|
241
|
510
|
473
|
(26)
|
|
258
|
Post-tax impact of litigation and conduct
|
1,457
|
30
|
2
|
|
12
|
48
|
1
|
411
|
|
37
|
Profit attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
550
|
358
|
424
|
|
253
|
558
|
474
|
385
|
|
295
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
Average allocated equity
|
13.9
|
13.8
|
13.9
|
|
13.6
|
13.7
|
13.6
|
13.4
|
|
13.1
|
Average goodwill and intangibles
|
(3.5)
|
(3.5)
|
(3.5)
|
|
(3.5)
|
(3.6)
|
(3.5)
|
(3.5)
|
|
(3.5)
|
Average allocated tangible equity
|
10.4
|
10.3
|
10.4
|
|
10.1
|
10.1
|
10.1
|
9.8
|
|
9.6
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
21.2%
|
13.9%
|
16.4%
|
|
10.1%
|
22.0%
|
18.8%
|
15.7%
|
|
12.3%
|
Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
Q319
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Cost: income ratio
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Total operating expenses
|
(2,282)
|
(2,446)
|
(2,225)
|
|
(2,684)
|
(2,309)
|
(2,353)
|
(2,315)
|
|
(2,948)
|
Impact of litigation and conduct
|
-
|
11
|
19
|
|
33
|
32
|
47
|
15
|
|
255
|
Operating expenses
|
(2,282)
|
(2,435)
|
(2,206)
|
|
(2,651)
|
(2,277)
|
(2,306)
|
(2,300)
|
|
(2,693)
|
|
|
|
|
|
|
|
|
|
|
|
Total income
|
3,750
|
3,903
|
3,570
|
|
3,221
|
3,290
|
3,707
|
3,808
|
|
3,319
|
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
61%
|
62%
|
62%
|
|
82%
|
69%
|
62%
|
60%
|
|
81%
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
1,137
|
1,223
|
1,118
|
|
215
|
850
|
1,297
|
1,413
|
|
6
|
Impact of litigation and conduct
|
-
|
11
|
19
|
|
33
|
32
|
47
|
15
|
|
255
|
Profit before tax excluding litigation and conduct
|
1,137
|
1,234
|
1,137
|
|
248
|
882
|
1,344
|
1,428
|
|
261
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
799
|
832
|
788
|
|
(21)
|
687
|
926
|
1,007
|
|
(1,134)
|
Post-tax impact of litigation and conduct
|
2
|
8
|
16
|
|
34
|
26
|
34
|
12
|
|
250
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
801
|
840
|
804
|
|
13
|
713
|
960
|
1,019
|
|
(884)
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
Average allocated equity
|
33.3
|
32.1
|
31.6
|
|
32.4
|
32.5
|
32.8
|
31.4
|
|
29.9
|
Average goodwill and intangibles
|
(1.1)
|
(1.0)
|
(1.1)
|
|
(1.1)
|
(1.3)
|
(1.4)
|
(1.4)
|
|
(1.4)
|
Average allocated tangible equity
|
32.2
|
31.1
|
30.5
|
|
31.3
|
31.1
|
31.4
|
30.1
|
|
28.5
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
10.0%
|
10.8%
|
10.6%
|
|
0.2%
|
9.2%
|
12.2%
|
13.6%
|
|
(12.4%)
|
Corporate and Investment Bank
|
|
|
|
|
|
|
|
|
||
|
Q319
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Cost: income ratio
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Total operating expenses
|
(1,716)
|
(1,867)
|
(1,638)
|
|
(2,046)
|
(1,744)
|
(1,773)
|
(1,786)
|
|
(2,384)
|
Impact of litigation and conduct
|
4
|
7
|
19
|
|
23
|
32
|
-
|
13
|
|
255
|
Operating expenses
|
(1,712)
|
(1,860)
|
(1,619)
|
|
(2,023)
|
(1,712)
|
(1,773)
|
(1,773)
|
|
(2,129)
|
|
|
|
|
|
|
|
|
|
|
|
Total income
|
2,617
|
2,795
|
2,505
|
|
2,151
|
2,235
|
2,580
|
2,799
|
|
2,252
|
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
65%
|
67%
|
65%
|
|
94%
|
77%
|
69%
|
63%
|
|
95%
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) before tax
|
882
|
887
|
827
|
|
85
|
498
|
835
|
1,175
|
|
(252)
|
Impact of litigation and conduct
|
4
|
7
|
19
|
|
23
|
32
|
-
|
13
|
|
255
|
Profit before tax excluding litigation and conduct
|
886
|
894
|
846
|
|
108
|
530
|
835
|
1,188
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
609
|
596
|
582
|
|
(84)
|
431
|
600
|
834
|
|
(1,227)
|
Post-tax impact of litigation and conduct
|
5
|
5
|
16
|
|
27
|
25
|
-
|
10
|
|
250
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
614
|
601
|
598
|
|
(57)
|
456
|
600
|
844
|
|
(977)
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
Average allocated equity
|
26.9
|
25.8
|
25.2
|
|
26.0
|
26.2
|
26.7
|
25.9
|
|
24.7
|
Average goodwill and intangibles
|
-
|
-
|
(0.1)
|
|
-
|
(0.2)
|
(0.3)
|
(0.3)
|
|
(0.4)
|
Average allocated tangible equity
|
26.9
|
25.8
|
25.1
|
|
26.0
|
25.9
|
26.4
|
25.6
|
|
24.3
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
9.2%
|
9.3%
|
9.5%
|
|
(0.9%)
|
7.0%
|
9.1%
|
13.2%
|
|
(16.1%)
|
Consumer, Cards and Payments
|
|
|
|
|
|
|
|
|
|
|
|
Q319
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Cost: income ratio
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Total operating expenses
|
(566)
|
(579)
|
(587)
|
|
(638)
|
(565)
|
(580)
|
(529)
|
|
(564)
|
Impact of litigation and conduct
|
(4)
|
4
|
-
|
|
10
|
-
|
47
|
2
|
|
-
|
Operating expenses
|
(570)
|
(575)
|
(587)
|
|
(628)
|
(565)
|
(533)
|
(527)
|
|
(564)
|
|
|
|
|
|
|
|
|
|
|
|
Total income
|
1,133
|
1,108
|
1,065
|
|
1,070
|
1,055
|
1,127
|
1,009
|
|
1,067
|
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
50%
|
52%
|
55%
|
|
59%
|
54%
|
47%
|
52%
|
|
53%
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
255
|
336
|
291
|
|
130
|
352
|
462
|
238
|
|
258
|
Impact of litigation and conduct
|
(4)
|
4
|
-
|
|
10
|
-
|
47
|
2
|
|
-
|
Profit before tax excluding litigation and conduct
|
251
|
340
|
291
|
|
140
|
352
|
509
|
240
|
|
258
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable profit
|
190
|
236
|
206
|
|
63
|
256
|
326
|
173
|
|
93
|
Post-tax impact of litigation and conduct
|
(3)
|
3
|
-
|
|
7
|
1
|
34
|
2
|
|
-
|
Profit attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
187
|
239
|
206
|
|
70
|
257
|
360
|
175
|
|
93
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
Average allocated equity
|
6.4
|
6.3
|
6.4
|
|
6.4
|
6.3
|
6.0
|
5.5
|
|
5.3
|
Average goodwill and intangibles
|
(1.1)
|
(1.0)
|
(1.0)
|
|
(1.1)
|
(1.1)
|
(1.1)
|
(1.0)
|
|
(1.1)
|
Average allocated tangible equity
|
5.3
|
5.3
|
5.4
|
|
5.3
|
5.2
|
5.0
|
4.5
|
|
4.2
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
14.0%
|
18.0%
|
15.4%
|
|
5.4%
|
19.9%
|
28.9%
|
15.7%
|
|
9.0%
|
Head Office
|
|
|
|
|
|
|
|
|
|
|
|
Q319
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Profit before tax
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Loss before tax
|
(204)
|
(169)
|
(220)
|
|
(231)
|
(129)
|
(58)
|
(1,819)
|
|
(365)
|
Impact of litigation and conduct
|
88
|
1
|
39
|
|
12
|
19
|
31
|
1,535
|
|
75
|
Loss before tax excluding litigation and conduct
|
(116)
|
(168)
|
(181)
|
|
(219)
|
(110)
|
(27)
|
(284)
|
|
(290)
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable loss
|
(184)
|
(126)
|
(172)
|
|
(234)
|
(147)
|
(120)
|
(1,699)
|
|
(369)
|
Post-tax impact of litigation and conduct
|
66
|
2
|
28
|
|
16
|
11
|
24
|
1,507
|
|
64
|
Attributable loss excluding litigation and conduct
|
(118)
|
(124)
|
(144)
|
|
(218)
|
(136)
|
(96)
|
(192)
|
|
(305)
|
Tangible net asset value
|
|
|
|
|
As at 30.09.19
|
As at 30.06.19
|
As at 31.12.18
|
|
£m
|
£m
|
£m
|
Total equity excluding non-controlling interests
|
66,197
|
67,576
|
62,556
|
Other equity instruments
|
(10,860)
|
(12,123)
|
(9,632)
|
Goodwill and intangibles
|
(8,068)
|
(7,993)
|
(7,973)
|
Tangible shareholders' equity attributable to ordinary shareholders
of the parent
|
47,269
|
47,460
|
44,951
|
|
|
|
|
|
m
|
m
|
m
|
Shares in issue
|
17,269
|
17,245
|
17,133
|
|
|
|
|
|
p
|
p
|
p
|
Tangible net asset value per share
|
274
|
275
|
262
|
|
|
|
|
|
|
||||
Results timetable1
|
|
|
Date
|
|
|
||||
2019 Full Year Results and Annual Report
|
|
|
13 February 2020
|
||||||
|
|
|
|
|
|
||||
|
|
|
|
|
|
||||
|
|
|
|
|
|
||||
|
|
% Change3
|
|||||||
Exchange rates2
|
30.09.19
|
30.06.19
|
30.09.18
|
30.06.19
|
30.09.18
|
||||
Period end - USD/GBP
|
1.23
|
1.27
|
1.30
|
(3%)
|
(5%)
|
||||
YTD average - USD/GBP
|
1.27
|
1.29
|
1.35
|
(2%)
|
(6%)
|
||||
3 month average - USD/GBP
|
1.23
|
1.29
|
1.30
|
(5%)
|
(5%)
|
||||
Period end - EUR/GBP
|
1.13
|
1.12
|
1.12
|
1%
|
1%
|
||||
YTD average - EUR/GBP
|
1.13
|
1.15
|
1.13
|
(2%)
|
-
|
||||
3 month average - EUR/GBP
|
1.11
|
1.14
|
1.12
|
(3%)
|
(1%)
|
||||
|
|
|
|
|
|
||||
Share price data
|
|
|
|
|
|
||||
Barclays PLC (p)
|
150.40
|
149.80
|
171.78
|
|
|
||||
Barclays PLC number of shares (m)
|
17,269
|
17,245
|
17,127
|
|
|
||||
|
|
|
|
|
|
||||
|
|
|
|
|
|
||||
For further information please contact
|
|
|
|
|
|
||||
|
|
|
|
|
|
||||
Investor relations
|
Media relations
|
||||||||
Lisa Bartrip +44 (0) 20 7773 0708
|
Thomas Hoskin +44 (0) 20 7116 4755
|
||||||||
|
|
|
|
|
|
||||
More information on Barclays can be found on our website:
home.barclays.
|
|
|
|
|
|
||||
|
|
|
|
|
|
||||
Registered office
|
|
|
|
|
|
||||
1 Churchill Place, London, E14 5HP, United Kingdom. Tel: +44 (0) 20
7116 1000. Company number: 48839.
|
|
||||||||
|
|
|
|
|
|
||||
Registrar
|
|
|
|
|
|
||||
Equiniti, Aspect House, Spencer Road, Lancing, West Sussex, BN99
6DA, United Kingdom.
|
|
||||||||
Tel: 0371 384 20554
from the UK or +44 121 415 7004 from
overseas.
|
|
||||||||
|
|
|
|
|
|
||||
American Depositary Receipts (ADRs)
|
|
|
|
|
|||||
J.P.Morgan
|
|
|
|
|
|||||
jpmorgan.adr@eq-us.com
|
|
|
|
|
|||||
Tel: +1 800 990 1135 (toll free in US and Canada), +1 651 453
2128 (outside the US and Canada) or +1 651 453 2133 (for the
hearing
|
|||||||||
impaired).
|
|
|
|
|
|||||
https://shareowneronline.equiniti.com/UserManagement/ContactUs.aspx
|
|
|
|
|
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J.P.Morgan Chase Bank N.A., Shareholder Services, PO Box
64504, St. Paul, MN 55164-0504, USA.
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1
Note that these dates are provisional and subject to
change.
|
2
The average rates shown above are derived from daily spot rates
during the year.
|
3
The change is the impact to GBP reported
information.
|
4
Lines open 8.30am to 5.30pm (UK time), Monday to Friday, excluding
UK public holidays in England and Wales.
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1 Year Barclays Chart |
1 Month Barclays Chart |
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