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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
|
|
Results Announcement
|
Page
|
|
|
Notes
|
|
|
|
Performance Highlights
|
|
|
|
Group Chief Executive's Review
|
|
|
|
Group Finance Director's Review
|
|
|
|
Results by Business
|
|
|
|
● Barclays
UK
|
8
|
|
|
● Barclays
International
|
11
|
|
|
● Head
Office
|
16
|
|
|
Quarterly Results Summary
|
17
|
|
|
Quarterly Results by Business
|
18
|
|
|
Performance Management
|
|
|
|
● Margins
and Balances
|
24
|
|
|
● Remuneration
|
26
|
|
|
Risk Management
|
|
|
|
● Risk
Management and Principal Risks
|
28
|
|
|
● Credit
Risk
|
29
|
|
|
● Market
Risk
|
44
|
|
|
● Treasury
and Capital Risk
|
45
|
|
|
Statement of Directors’ Responsibilities
|
57
|
|
|
Condensed Consolidated Financial Statements
|
58
|
|
|
Financial Statement Notes
|
63
|
|
|
Appendix: Non-IFRS Performance Measures
|
69
|
|
|
Shareholder Information
|
75
|
C. S. Venkatakrishnan, Group Chief Executive,
commented
“Barclays demonstrated a clear and sustainable path to growth
over the course of 2021, delivering double-digit RoTE across our
operating businesses, and returning £2.51 billion of excess
capital. Our strategic priorities will continue to develop the
diversified business model that we have established, investing in
advanced technology capabilities in our consumer businesses,
delivering sustainable growth across our global Corporate and
Investment Bank, and reinforcing our commitment to aiding the
transition to a low-carbon economy.”
|
|
Income
|
Cost: income ratio
|
Profit before tax
|
RoTE
|
EPS
|
CET1
ratio
|
TNAV per share
|
Total capital return
|
2021
|
£21.9bn
|
66%
|
£8.4bn
|
13.4%
|
37.5p
|
15.1%
|
292p
|
15p
equivalent per share1
|
Q421
|
£5.2bn
|
72%
|
£1.5bn
|
9.3%
|
6.6p
|
|
Tushar
Morzaria has decided to retire as Group Finance Director and as an
Executive Director of Barclays PLC and Barclays Bank PLC, in each
case with effect from 22 April 2022. He will be succeeded by Anna
Cross, currently Deputy Group Finance Director, who will take up
the role of Group Finance Director subject to regulatory approval,
and join the Boards of Barclays PLC and Barclays Bank PLC as an
Executive Director, in each case with effect from 23 April 2022.
Anna will also join the Group Executive Committee, reporting to
Group Chief Executive C.S. Venkatakrishnan.
|
●
|
All operating divisions delivered double-digit returns:
Barclays UK generated a RoTE of 17.6% (2020: 3.2%) and Barclays
International a RoTE of 14.9% (2020: 7.1%), including a 14.9%
(2020: 9.5%) RoTE in the Corporate and Investment Bank (CIB) and
15.0% (2020: (7.5)%) RoTE in Consumer, Cards and Payments
(CC&P)
|
●
|
Record CIB profitability: profit before tax of £5.8bn,
including record Investment Banking fees and Equities
income2
|
●
|
Consumer and payments businesses benefitted from economic
recovery: delivered robust UK mortgage lending and deposit
growth. Experienced positive trends in UK and US consumer spending
and payments volumes
|
●
|
Cost discipline enabled investment for growth: excluding
structural cost actions and performance costs, Group total
operating expenses were flat at £12.0bn, as efficiency savings
were reinvested to drive income growth
|
●
|
Net credit impairment release: £0.7bn release (2020:
£4.8bn charge) driven by an improved macroeconomic outlook,
reduced unsecured lending balances and benign credit environment.
Coverage ratios on unsecured lending remain higher than
pre-COVID-19 pandemic levels
|
●
|
Strong capital: Common equity tier 1 (CET1) ratio of 15.1%
(December 2020: 15.1%) and tangible net asset value (TNAV) per
share increased 9% to 292p
|
●
|
Increased capital distributions: total dividend for 2021 of
6.0p per share (2020: 1.0p), including a 4.0p per share 2021 full
year dividend. Intend to initiate a share buyback of up to
£1.0bn, bringing the total share buybacks announced in
relation to 2021 to £1.5bn and total capital return equivalent
to 15p per share
|
●
|
Income: Barclays’ diversified income streams position
the Group well for the ongoing economic recovery and rising
interest rates
|
●
|
Impairment: impairment charge is expected to remain below
pre-COVID-19 pandemic levels in coming quarters given reduced
unsecured lending balances and an improved macroeconomic
outlook
|
●
|
Costs: Barclays will continue to drive efficiency savings,
however, inflationary pressures and planned investment spend are
expected to result in FY22 costs, excluding structural cost actions
and performance costs being modestly higher than
£12.0bn3
|
●
|
Capital: the CET1 ratio is expected to be impacted by
c.80bps of regulatory changes which took effect from 1 January
2022. The announced share buyback of up to £1.0bn will also
reduce the CET1 ratio by c.30bps
|
●
|
Capital returns: capital returns policy incorporates a
progressive ordinary dividend, supplemented as appropriate,
including with share buybacks
|
1
|
Includes total
dividend for 2021 of 6.0p per share and total share buybacks
announced in relation to 2021 of £1.5bn.
|
2
|
On a comparable
basis, period covering 2014 – 2021. Pre 2014 financials were
not restated following re-segmentation in 2016.
|
3
|
Group cost
outlook is based on an average rate of 1.35 (USD/GBP) in 2022 and
subject to foreign currency movements.
|
Barclays Group results
for the year ended
|
|
||
|
31.12.21
|
31.12.20
|
|
|
£m
|
£m
|
% Change
|
Net interest income
|
8,073
|
8,122
|
(1)
|
Net fee, commission and other income
|
13,867
|
13,644
|
2
|
Total income
|
21,940
|
21,766
|
1
|
Credit impairment releases/(charges)
|
653
|
(4,838)
|
|
Net operating income
|
22,593
|
16,928
|
33
|
Operating costs
|
(14,092)
|
(13,434)
|
(5)
|
UK bank levy
|
(170)
|
(299)
|
43
|
Litigation and conduct
|
(177)
|
(153)
|
(16)
|
Total operating expenses
|
(14,439)
|
(13,886)
|
(4)
|
Other net income
|
260
|
23
|
|
Profit before tax
|
8,414
|
3,065
|
|
Tax charge
|
(1,188)
|
(604)
|
(97)
|
Profit after tax
|
7,226
|
2,461
|
|
Non-controlling interests
|
(47)
|
(78)
|
40
|
Other equity instrument holders
|
(804)
|
(857)
|
6
|
Attributable profit
|
6,375
|
1,526
|
|
|
|
|
|
Performance measures
|
|
|
|
Return on average tangible shareholders' equity
|
13.4%
|
3.2%
|
|
Average tangible shareholders' equity (£bn)
|
47.4
|
48.3
|
|
Cost: income ratio
|
66%
|
64%
|
|
Loan loss rate (bps)
|
—
|
138
|
|
Basic earnings per share
|
37.5p
|
8.8p
|
|
Dividend per share
|
6.0p
|
1.0p
|
|
Share
buyback announced1
(£m)
|
1,500
|
700
|
|
Total payout equivalent per share
|
15.0p
|
5.0p
|
|
Basic weighted average number of shares (m)
|
16,985
|
17,300
|
(2)
|
Period end number of shares (m)
|
16,752
|
17,359
|
(3)
|
|
|
|
|
Balance sheet and capital management2
|
£bn
|
£bn
|
|
Loans and advances at amortised cost
|
361.5
|
342.6
|
6
|
Loans and advances at amortised cost impairment coverage
ratio
|
1.6%
|
2.4%
|
|
Deposits at amortised cost
|
519.4
|
481.0
|
8
|
Tangible net asset value per share
|
292p
|
269p
|
9
|
Common equity tier 1 ratio
|
15.1%
|
15.1%
|
|
Common equity tier 1 capital
|
47.5
|
46.3
|
|
Risk weighted assets
|
314.1
|
306.2
|
|
Average UK leverage ratio
|
4.9%
|
5.0%
|
|
UK leverage ratio
|
5.3%
|
5.3%
|
|
|
|
|
|
Funding and liquidity
|
|
|
|
Group liquidity pool (£bn)
|
291
|
266
|
9
|
Liquidity coverage ratio
|
168%
|
162%
|
|
Loan: deposit ratio
|
70%
|
71%
|
|
1
|
Barclays
intends to initiate a share buyback of up to £1.0bn, which is
expected to commence in Q122. This brings the total share buybacks
announced in relation to FY21 to £1.5bn.
|
2
|
Refer to pages
48 to 53 for further information on how capital, Risk Weighted
Assets (RWAs) and leverage are calculated.
|
1
|
Top 6 Global
Investment Bank supported by #6 ranking in Investment Banking
(Source: Dealogic) and #6 ranking in Global Markets (Source:
Coalition Greenwich, FY21 Preliminary Competitor
analysis).
|
2
|
Bonds represent
debt issuance outstanding for Investment grade (Source: Bloomberg
Barclays Global Aggregate Index LEGATRUU) and high yield (Source:
Bloomberg Barclays Global High Yield Index LG30TRUU). Equities
represents the market capitalisation from all shares outstanding
(Source: Bloomberg WCAUWRLD Index).
|
3
|
Source: Preqin
“Future of Alternatives 2025” data excluding Hedge
Funds, period covering 2018 – H121.
|
1
|
$3-5 trillion
as estimated in the GFMA/BCG (Global Financial Markets Association/
Boston Consulting Group) Climate Finance Markets and the Real
Economy report, December 2020.
|
●
|
Barclays’
diversified business model delivered a record profit before tax of
£8,414m (2020: £3,065m), RoTE of 13.4% (2020: 3.2%) and
earnings per share (EPS) of 37.5p (2020: 8.8p)
|
●
|
Total
income increased to £21,940m (2020: £21,766m). Barclays
UK income increased 3%. Barclays International income decreased 2%,
with CIB income down 1% and CC&P income down 3%. Excluding the
impact of the 8% depreciation of average USD against GBP, total
income was up, reflecting Barclays’ diversified income
streams
|
●
|
Credit
impairment net release of £653m (2020: £4,838m charge).
The net release included a reversal of £1.3bn in non-default
charges, primarily reflecting the improved macroeconomic outlook.
Excluding this reversal, the charge was £0.7bn, reflecting
reduced unsecured lending balances and low delinquency. Economic
uncertainty adjustments have been maintained firstly in respect of
customers and clients who may be more vulnerable to the withdrawal
of support schemes and emerging economic uncertainty, and secondly,
model uncertainty which does not capture certain macroeconomic and
risk parameter uncertainties. The reduction in unsecured lending
balances and growth in secured balances have contributed to a
decrease in the Group’s loan coverage ratio to 1.6% (December
2020: 2.4%). Coverage ratios in unsecured loan portfolios remained
elevated compared to pre-COVID-19 pandemic levels
|
●
|
Total
operating expenses increased 4% to £14,439m, due to structural
cost actions of £648m primarily relating to the real estate
review in Q221 and Barclays UK transformation costs in Q421, higher
performance costs that reflect improved returns, and continued
investment and business growth. This was partially offset by the
benefit from the depreciation of average USD against GBP,
efficiency savings and a lower UK bank levy charge, primarily due
to the reduced rate. This resulted in a cost: income ratio of 66%
(2020: 64%). Excluding structural cost actions of £648m (2020:
£368m), operating expenses would have been £13,791m
(2020: £13,518m), resulting in a cost: income ratio of 63%
(2020: 62%)
|
●
|
The
effective tax rate was 14.1% (2020: 19.7%). This reflects a
£462m tax benefit recognised for the re-measurement of the
Group’s UK deferred tax assets (DTAs) as a result of the
enactment in 2021 of a UK corporation tax rate increase from 19% to
25% effective from 1 April 2023
|
●
|
Attributable
profit was £6,375m (2020: £1,526m)
|
●
|
Following
the completion of the £700m share buyback announced with FY20
results and the £500m share buyback announced with H121
results, the period end number of shares was 16,752m (December
2020: 17,359m)
|
●
|
Total
assets increased to £1,384bn (December 2020: £1,350bn)
reflecting a £47bn increase in cash at central banks following
strong client deposit growth and a £19bn increase in loans and
advances at amortised cost due to increased customer
lending
|
●
|
TNAV
per share increased to 292p (December 2020: 269p) primarily
reflecting 37.5p of EPS, partially offset by negative reserve
movements
|
●
|
The
CET1 ratio was stable at 15.1% (December 2020: 15.1%)
|
|
|
–
|
CET1
capital increased by £1.2bn to £47.5bn as profit before
tax of £8.4bn was partially offset by share buybacks, 2021
dividends and equity coupons paid and foreseen as well as pensions
deficit contribution payments
|
|
–
|
RWAs
increased £7.9bn to £314.1bn primarily resulting from the
recalibration of the modelled market risk stress period, increased
client and trading activity within CIB and growth in mortgages
within Barclays UK, partially offset by lower unsecured
balances
|
●
|
The
average UK leverage ratio decreased to 4.9% (December 2020: 5.0%).
The average leverage exposure increased by £80.2bn to
£1,227.1bn largely driven by an increase in securities
financing transactions (SFTs), potential future exposure (PFE) on
derivatives and trading portfolio assets (TPAs)
|
1
|
The 8%
depreciation of average USD against GBP adversely impacted income
and profits and positively impacted total operating
expenses.
|
●
|
The
liquidity pool was £291bn (December 2020: £266bn) and the
liquidity coverage ratio remained significantly above the 100%
regulatory requirement at 168% (December 2020: 162%), equivalent to
a surplus of £116bn (December 2020: £99bn). The increase
in the pool and surplus was driven by deposit growth, borrowing
from the Bank of England’s Term Funding Scheme with
additional incentives for small and medium-sized enterprises (SMEs)
and an increase in wholesale funding, which were partly offset by
an increase in business funding consumption
|
●
|
Wholesale
funding outstanding, excluding repurchase agreements, was
£167.5bn (December 2020: £145.0bn). The Group issued
£11.0bn equivalent of minimum requirement for own funds and
eligible liabilities (MREL) instruments from Barclays PLC (the
Parent company) during the year. The Group has a strong MREL
position with a ratio of 8% of CRR leverage exposures which is in
excess of its regulatory requirement of 6.9%
|
●
|
The UK
Government has announced that the banking surcharge rate will be
reduced from 8% to 3% effective from 1 April 2023. This change has
been substantively enacted in Q122 at which point the Group’s
UK DTAs will be re-measured and decreased with a resulting tax
charge. If this had been enacted by 31 December 2021 it would have
resulted in the Group’s UK DTAs being re-measured and
decreasing with a tax charge in the income statement of £346m
and a tax credit within other comprehensive income of
£87m
|
●
|
Barclays
is committed to maintaining an appropriate balance between
delivering attractive total cash returns to shareholders,
investment in the business and maintaining a strong capital
position. Barclays pays a progressive ordinary dividend, taking
into account these objectives and the earnings outlook of the
Group. The Board will also continue to supplement the ordinary
dividends as appropriate, including with share
buybacks
|
●
|
Barclays
announces a total dividend for 2021 of 6.0p per share (2020: 1.0p),
including a 2021 full year dividend of 4.0p per share to be paid on
5 April 2022. Dividends will continue to be paid semi-annually,
with the half year dividend expected to represent, under normal
circumstances, around one-third of the total dividend for the
year
|
●
|
Barclays
intends to initiate a share buyback of up to £1.0bn, which is
expected to commence in Q122. This brings the total share buybacks
announced in relation to FY21 to £1.5bn
|
●
|
The
6.0p total dividend per share and total share buybacks of
£1.5bn in relation to FY21 bring the total capital return
equivalent to 15p per share
|
●
|
Returns: RoTE of greater than 10%
|
●
|
Cost efficiency: cost: income ratio below 60%
|
●
|
Capital adequacy: CET1 ratio in the range of
13-14%
|
Barclays UK
|
Year ended
|
Year ended
|
|
|
31.12.21
|
31.12.20
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
5,202
|
5,234
|
(1)
|
Net fee, commission and other income
|
1,334
|
1,113
|
20
|
Total income
|
6,536
|
6,347
|
3
|
Credit impairment releases/(charges)
|
365
|
(1,467)
|
|
Net operating income
|
6,901
|
4,880
|
41
|
Operating costs
|
(4,357)
|
(4,270)
|
(2)
|
UK bank levy
|
(36)
|
(50)
|
28
|
Litigation and conduct
|
(37)
|
(32)
|
(16)
|
Total operating expenses
|
(4,430)
|
(4,352)
|
(2)
|
Other net income
|
—
|
18
|
|
Profit before tax
|
2,471
|
546
|
|
Attributable profit
|
1,756
|
325
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
Loans and advances to customers at amortised cost
|
208.8
|
205.4
|
|
Total assets
|
321.2
|
289.1
|
|
Customer deposits at amortised cost
|
260.6
|
240.5
|
|
Loan: deposit ratio
|
85%
|
89%
|
|
Risk weighted assets
|
72.3
|
73.7
|
|
Period end allocated tangible equity
|
10.0
|
9.7
|
|
|
|
|
|
Key facts
|
|
|
|
Average
loan to value of mortgage portfolio1
|
51%
|
51%
|
|
Average
loan to value of new mortgage lending1
|
70%
|
68%
|
|
Number of branches
|
666
|
859
|
|
Mobile banking active customers
|
9.7m
|
9.2m
|
|
30 day arrears rate - Barclaycard Consumer UK
|
1.0%
|
1.7%
|
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
17.6%
|
3.2%
|
|
Average allocated tangible equity (£bn)
|
10.0
|
10.1
|
|
Cost: income ratio
|
68%
|
69%
|
|
Loan loss rate (bps)
|
—
|
68
|
|
Net interest margin
|
2.52%
|
2.61%
|
|
1
|
Average loan to
value (LTV) of mortgages is balance weighted and reflects both
residential and buy-to-let (BTL) mortgage portfolios within the
Home Loans portfolio.
|
Analysis of Barclays UK
|
Year ended
|
Year ended
|
|
31.12.21
|
31.12.20
|
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
Personal Banking
|
3,883
|
3,522
|
10
|
Barclaycard Consumer UK
|
1,250
|
1,519
|
(18)
|
Business Banking
|
1,403
|
1,306
|
7
|
Total income
|
6,536
|
6,347
|
3
|
|
|
|
|
Analysis of credit impairment releases/(charges)
|
|
|
|
Personal Banking
|
28
|
(380)
|
|
Barclaycard Consumer UK
|
404
|
(881)
|
|
Business Banking
|
(67)
|
(206)
|
67
|
Total credit impairment releases/(charges)
|
365
|
(1,467)
|
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
|
Personal Banking
|
165.4
|
157.3
|
|
Barclaycard Consumer UK
|
8.7
|
9.9
|
|
Business Banking
|
34.7
|
38.2
|
|
Total loans and advances to customers at amortised
cost
|
208.8
|
205.4
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
Personal Banking
|
196.4
|
179.7
|
|
Barclaycard Consumer UK
|
—
|
0.1
|
|
Business Banking
|
64.2
|
60.7
|
|
Total customer deposits at amortised cost
|
260.6
|
240.5
|
|
●
|
Profit
before tax increased to £2,471m (2020: £546m). RoTE was
17.6% (2020: 3.2%) reflecting an improving UK operating
environment
|
|
●
|
Total
income increased 3% to £6,536m. Net interest income reduced 1%
to £5,202m with a net interest margin (NIM) of 2.52% (2020:
2.61%) as strong customer retention and improved margins in
mortgages were more than offset by lower unsecured lending
balances. Net fee, commission and other income increased 20% to
£1,334m, returning back towards pre-COVID-19 pandemic
levels
|
|
|
–
|
Personal
Banking income increased 10% to £3,883m, reflecting strong
growth in mortgages, alongside improved margins during the first
three quarters, balance growth in deposits and the non-recurrence
of COVID-19 customer support actions. This was partially offset by
deposit margin compression from lower interest rates and lower
unsecured lending balances
|
|
–
|
Barclaycard
Consumer UK income decreased 18% to £1,250m, as repayments by
customers and reduced borrowing resulted in a lower level of
interest earning lending (IEL) balances. However, IEL balances
began to stabilise throughout H221
|
|
–
|
Business
Banking income increased 7% to £1,403m due to lending and
deposit balance growth from £12.1bn of government scheme
lending and the non-recurrence of COVID-19 and related customer
support actions, partially offset by deposit margin compression
from lower interest rates
|
●
|
Credit
impairment net release of £365m (2020: £1,467m charge)
was driven by an improved macroeconomic outlook and lower unsecured
lending balances due to customer repayments and lower
delinquencies. As at 31 December 2021, 30 and 90 day arrears rates
in UK cards were 1.0% (Q420: 1.7%) and 0.2% (Q420: 0.8%)
respectively
|
|
●
|
Total
operating expenses increased 2% to £4,430m primarily
reflecting increased investment spend, including structural cost
actions of £288m (2020: £150m). Excluding structural cost
actions, operating expenses would have been broadly stable at
£4,142m (2020: £4,202m), with higher operational and
customer service costs, primarily driven by increased volumes,
offset by efficiency savings
|
●
|
Loans
and advances to customers at amortised cost increased 2% to
£208.8bn predominantly from £9.9bn of mortgage growth
following a strong flow of new applications as well as strong
customer retention. This was offset by a £2.2bn decrease in
the Education, Social Housing and Local Authority (ESHLA) portfolio
carrying value as interest rate yield curves steepened, £1.6bn
lower unsecured lending balances and £1.3bn lower Business
Banking balances as repayment of government scheme lending
commences
|
●
|
Customer
deposits at amortised cost increased 8% to £260.6bn reflecting
an increase of £16.7bn and £3.5bn in Personal Banking and
Business Banking respectively, further strengthening the liquidity
position and contributing
to a loan: deposit ratio of 85% (December 2020:
89%)
|
●
|
RWAs
decreased to £72.3bn (December 2020: £73.7bn) driven by a
reduction in unsecured lending and the value of the ESHLA
portfolio, partially offset by growth in mortgages
|
Barclays International
|
Year ended
|
Year ended
|
|
|
31.12.21
|
31.12.20
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
3,263
|
3,282
|
(1)
|
Net trading income
|
5,693
|
6,920
|
(18)
|
Net fee, commission and other income
|
6,709
|
5,719
|
17
|
Total income
|
15,665
|
15,921
|
(2)
|
Credit impairment releases/(charges)
|
288
|
(3,280)
|
|
Net operating income
|
15,953
|
12,641
|
26
|
Operating costs
|
(9,076)
|
(8,765)
|
(4)
|
UK bank levy
|
(134)
|
(240)
|
44
|
Litigation and conduct
|
(125)
|
(48)
|
|
Total operating expenses
|
(9,335)
|
(9,053)
|
(3)
|
Other net income
|
40
|
28
|
43
|
Profit before tax
|
6,658
|
3,616
|
84
|
Attributable profit
|
4,817
|
2,220
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
Loans and advances at amortised cost
|
133.8
|
122.7
|
|
Trading portfolio assets
|
146.9
|
127.7
|
|
Derivative financial instrument assets
|
261.5
|
301.8
|
|
Financial assets at fair value through the income
statement
|
188.2
|
170.7
|
|
Cash collateral and settlement balances
|
88.1
|
97.5
|
|
Other assets
|
225.6
|
221.4
|
|
Total assets
|
1,044.1
|
1,041.8
|
|
Deposits at amortised cost
|
258.8
|
240.5
|
|
Derivative financial instrument liabilities
|
256.4
|
300.4
|
|
Loan: deposit ratio
|
52%
|
51%
|
|
Risk weighted assets
|
230.9
|
222.3
|
|
Period end allocated tangible equity
|
33.2
|
30.2
|
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
14.9%
|
7.1%
|
|
Average allocated tangible equity (£bn)
|
32.4
|
31.5
|
|
Cost: income ratio
|
60%
|
57%
|
|
Loan loss rate (bps)
|
—
|
257
|
|
Net interest margin
|
4.01%
|
3.64%
|
|
Analysis of Barclays International
|
|
|
|
Corporate and Investment Bank
|
Year ended
|
Year ended
|
|
|
31.12.21
|
31.12.20
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
1,351
|
1,084
|
25
|
Net trading income
|
5,652
|
6,975
|
(19)
|
Net fee, commission and other income
|
5,331
|
4,417
|
21
|
Total income
|
12,334
|
12,476
|
(1)
|
Credit impairment releases/(charges)
|
473
|
(1,559)
|
|
Net operating income
|
12,807
|
10,917
|
17
|
Operating costs
|
(6,818)
|
(6,689)
|
(2)
|
UK bank levy
|
(128)
|
(226)
|
43
|
Litigation and conduct
|
(17)
|
(4)
|
|
Total operating expenses
|
(6,963)
|
(6,919)
|
(1)
|
Other net income
|
2
|
6
|
(67)
|
Profit before tax
|
5,846
|
4,004
|
46
|
Attributable profit
|
4,202
|
2,554
|
65
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
Loans and advances at amortised cost
|
100.0
|
92.4
|
|
Trading portfolio assets
|
146.7
|
127.5
|
|
Derivative financial instrument assets
|
261.5
|
301.7
|
|
Financial assets at fair value through the income
statement
|
188.1
|
170.4
|
|
Cash collateral and settlement balances
|
87.2
|
96.7
|
|
Other assets
|
195.8
|
194.9
|
|
Total assets
|
979.3
|
983.6
|
|
Deposits at amortised cost
|
189.4
|
175.2
|
|
Derivative financial instrument liabilities
|
256.4
|
300.3
|
|
Risk weighted assets
|
200.7
|
192.2
|
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
14.9%
|
9.5%
|
|
Average allocated tangible equity (£bn)
|
28.3
|
27.0
|
|
Cost: income ratio
|
56%
|
55%
|
|
|
|
|
|
|
|
|
|
Analysis of total income
|
£m
|
£m
|
|
FICC
|
3,448
|
5,138
|
(33)
|
Equities
|
2,967
|
2,471
|
20
|
Global Markets
|
6,415
|
7,609
|
(16)
|
Advisory
|
921
|
561
|
64
|
Equity capital markets
|
813
|
473
|
72
|
Debt capital markets
|
1,925
|
1,697
|
13
|
Investment Banking fees
|
3,659
|
2,731
|
34
|
Corporate lending
|
588
|
590
|
—
|
Transaction banking
|
1,672
|
1,546
|
8
|
Corporate
|
2,260
|
2,136
|
6
|
Total income
|
12,334
|
12,476
|
(1)
|
Analysis of Barclays International
|
|
|
|
Consumer, Cards and Payments
|
Year ended
|
Year ended
|
|
|
31.12.21
|
31.12.20
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
1,912
|
2,198
|
(13)
|
Net fee, commission, trading and other income
|
1,419
|
1,247
|
14
|
Total income
|
3,331
|
3,445
|
(3)
|
Credit impairment charges
|
(185)
|
(1,721)
|
89
|
Net operating income
|
3,146
|
1,724
|
82
|
Operating costs
|
(2,258)
|
(2,076)
|
(9)
|
UK bank levy
|
(6)
|
(14)
|
57
|
Litigation and conduct
|
(108)
|
(44)
|
|
Total operating expenses
|
(2,372)
|
(2,134)
|
(11)
|
Other net income
|
38
|
22
|
73
|
Profit/(loss) before tax
|
812
|
(388)
|
|
Attributable profit/(loss)
|
615
|
(334)
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
Loans and advances at amortised cost
|
33.8
|
30.3
|
|
Total assets
|
64.8
|
58.2
|
|
Deposits at amortised cost
|
69.4
|
65.3
|
|
Risk weighted assets
|
30.2
|
30.1
|
|
|
|
|
|
Key facts
|
|
|
|
30 day arrears rate – Barclaycard US
|
1.6%
|
2.5%
|
|
US cards customer FICO score distribution
|
|
|
|
<660
|
10%
|
13%
|
|
>660
|
90%
|
87%
|
|
Total number of Barclaycard payments clients
|
c.380,000
|
c.365,000
|
|
Value
of payments processed (£bn)1
|
277
|
274
|
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
15.0%
|
(7.5)%
|
|
Average allocated tangible equity (£bn)
|
4.1
|
4.5
|
|
Cost: income ratio
|
71%
|
62%
|
|
Loan loss rate (bps)
|
51
|
517
|
|
|
|
|
|
|
|
|
|
Analysis of total income
|
£m
|
£m
|
|
International Cards and Consumer Bank
|
2,092
|
2,433
|
(14)
|
Private Bank
|
781
|
707
|
10
|
Unified Payments
|
458
|
305
|
50
|
Total income
|
3,331
|
3,445
|
(3)
|
1
|
Includes
£270bn (2020: £268bn) of merchant acquiring
payments.
|
●
|
Profit
before tax increased 84% to £6,658m with a RoTE of 14.9%
(2020: 7.1%), reflecting a RoTE of 14.9% (2020:9.5%) in CIB and
15.0% (2020: (7.5)%) in CC&P
|
||
●
|
The 8%
depreciation of average USD against GBP adversely impacted income
and profits and positively impacted total operating
expenses
|
||
●
|
Total
income decreased to £15,665m (2020:
£15,921m)
|
||
|
–
|
CIB
income decreased 1% to £12,334m
|
|
|
|
–
|
Global
Markets income decreased 16% to £6,415m as a strong
performance in Equities, representing the best full year on a
comparable basis1, was more than
offset by FICC. Equities income increased 20% to £2,967m
driven by strong client activity in derivatives and increased
client balances in financing. FICC income decreased 33% to
£3,448m due to tighter spreads and the non-recurrence of prior
year client activity levels
|
|
|
–
|
Investment
Banking fees income, representing the best full year on a
comparable basis1, increased 34% to
£3,659m driven by a strong performance in Advisory and Equity
capital markets reflecting an increase in the fee pool and an
increased market share2
|
|
|
–
|
Within
Corporate, Transaction banking income increased 8% to £1,672m
driven by deposits and higher payments volumes. Corporate lending
income was stable at £588m (2020: £590m) driven by a
current year fair value loan write-off on a single name and
increased cost of hedging, whilst the prior year included net
losses from the mark-to-market of lending and related hedge
positions
|
|
–
|
CC&P
income decreased 3% to £3,331m
|
|
|
|
–
|
International
Cards and Consumer Bank income decreased 14% to £2,092m
reflecting lower average cards balances whilst balances increased
during H221
|
|
|
–
|
Private
Bank income increased 10% to £781m, reflecting client balance
growth and a gain on a property sale
|
|
|
–
|
Unified
Payments income increased 50% to £458m driven by the
non-recurrence of a c.£100m valuation loss on Barclays’
preference shares in Visa Inc. in Q220, which have subsequently
been fully disposed of in FY21, and merchant acquiring turnover
growth following the easing of lockdown restrictions
|
●
|
Credit
impairment net release of £288m (2020: £3,280m charge)
was driven by an improved macroeconomic outlook
|
||
|
–
|
CIB
credit impairment net release of £473m (2020: £1,559m
charge) was also supported by net single name wholesale loan
releases and a benign credit environment
|
|
|
–
|
CC&P
credit impairment charge of £185m (2020: £1,721m) was
partially driven by lower delinquencies and higher customer
repayments. As at 31 December 2021, 30 and 90 day arrears in US
cards were 1.6% (Q420: 2.5%) and 0.8% (Q420: 1.4%)
respectively
|
|
●
|
Total
operating expenses increased 3% to £9,335m
|
||
|
–
|
CIB
total operating expenses increased 1% to £6,963m due to higher
performance costs, that reflect an improvement in returns, partly
offset by a lower bank levy charge, primarily due to the reduced
rate
|
|
|
–
|
CC&P
total operating expenses increased 11% to £2,372m driven by
the impact of higher investment spend, including an increase in
marketing and costs for existing and new partnerships, and customer
remediation costs related to a legacy portfolio
|
1
|
Period covering
2014 – 2021. Pre 2014 financials were not restated following
re-segmentation in 2016.
|
2
|
Data source:
Dealogic for the period covering 1 January to 31 December
2021.
|
●
|
Loans
and advances at amortised cost increased £11.1bn to
£133.8bn due to increased lending across CIB and
CC&P
|
●
|
Trading
portfolio assets increased £19.2bn to £146.9bn
predominantly due to increased activity in Equities
|
●
|
Derivative
financial instruments assets decreased £40.3bn and liabilities
decreased £44.0bn to £261.5bn and £256.4bn
respectively, driven by an increase in major interest rate curves
and reduced client activity in FICC
|
●
|
Financial
assets at fair value through the income statement increased
£17.5bn to £188.2bn driven by increased secured
lending
|
●
|
Cash
collateral and settlement balances decreased £9.4bn to
£88.1bn
|
●
|
Deposits
at amortised cost increased £18.3bn to £258.8bn due to
clients increasing liquidity
|
●
|
RWAs
increased to £230.9bn (December 2020: £222.3bn) primarily
resulting from the recalibration of the modelled market risk stress
period, and increased client and trading activity within
CIB
|
Head Office
|
Year ended
|
Year ended
|
|
|
31.12.21
|
31.12.20
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
(392)
|
(393)
|
—
|
Net fee, commission and other income
|
131
|
(109)
|
|
Total income
|
(261)
|
(502)
|
48
|
Credit impairment charges
|
—
|
(91)
|
|
Net operating income
|
(261)
|
(593)
|
56
|
Operating costs
|
(659)
|
(399)
|
(65)
|
UK bank levy
|
—
|
(9)
|
|
Litigation and conduct
|
(15)
|
(73)
|
79
|
Total operating expenses
|
(674)
|
(481)
|
(40)
|
Other net income/(expenses)
|
220
|
(23)
|
|
Loss before tax
|
(715)
|
(1,097)
|
35
|
Attributable loss
|
(198)
|
(1,019)
|
81
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
Total assets
|
19.0
|
18.6
|
|
Risk weighted assets
|
11.0
|
10.2
|
|
Period end allocated tangible equity
|
5.7
|
6.8
|
|
|
|
|
|
Performance measures
|
|
|
|
Average allocated tangible equity (£bn)
|
5.0
|
6.7
|
|
●
|
Loss
before tax was £715m (2020:
£1,097m)
|
●
|
Total
income was an expense of £261m (2020: £502m), which
primarily reflected hedge accounting, funding costs on legacy
capital instruments and treasury items, partially offset by
mark-to-market gains on legacy investments and the recognition of
dividends on Barclays’ stake in Absa Group
Limited
|
●
|
Total
operating expenses were £674m (2020: £481m), which
included £266m relating to structural cost actions taken as
part of the real estate review in Q221, as well as costs associated
with the discontinued use of software assets
|
●
|
Other
net income was £220m (2020: £23m expense) driven by a
fair value gain on investments held by the Business Growth Fund in
which Barclays has an associate interest
|
●
|
RWAs
were £11.0bn (December 2020: £10.2bn)
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
Q421
|
Q321
|
Q221
|
Q121
|
|
Q420
|
Q320
|
Q220
|
Q120
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
2,230
|
1,940
|
2,052
|
1,851
|
|
1,845
|
2,055
|
1,892
|
2,331
|
Net fee, commission and other income
|
2,930
|
3,525
|
3,363
|
4,049
|
|
3,096
|
3,149
|
3,446
|
3,952
|
Total income
|
5,160
|
5,465
|
5,415
|
5,900
|
|
4,941
|
5,204
|
5,338
|
6,283
|
Credit impairment releases/(charges)
|
31
|
(120)
|
797
|
(55)
|
|
(492)
|
(608)
|
(1,623)
|
(2,115)
|
Net operating income
|
5,191
|
5,345
|
6,212
|
5,845
|
|
4,449
|
4,596
|
3,715
|
4,168
|
Operating costs
|
(3,514)
|
(3,446)
|
(3,587)
|
(3,545)
|
|
(3,480)
|
(3,391)
|
(3,310)
|
(3,253)
|
UK bank levy
|
(170)
|
—
|
—
|
—
|
|
(299)
|
—
|
—
|
—
|
Litigation and conduct
|
(46)
|
(32)
|
(66)
|
(33)
|
|
(47)
|
(76)
|
(20)
|
(10)
|
Total operating expenses
|
(3,730)
|
(3,478)
|
(3,653)
|
(3,578)
|
|
(3,826)
|
(3,467)
|
(3,330)
|
(3,263)
|
Other net income/(expenses)
|
13
|
94
|
21
|
132
|
|
23
|
18
|
(26)
|
8
|
Profit before tax
|
1,474
|
1,961
|
2,580
|
2,399
|
|
646
|
1,147
|
359
|
913
|
Tax charge
|
(112)
|
(317)
|
(263)
|
(496)
|
|
(163)
|
(328)
|
(42)
|
(71)
|
Profit after tax
|
1,362
|
1,644
|
2,317
|
1,903
|
|
483
|
819
|
317
|
842
|
Non-controlling interests
|
(27)
|
(1)
|
(15)
|
(4)
|
|
(37)
|
(4)
|
(21)
|
(16)
|
Other equity instrument holders
|
(218)
|
(197)
|
(194)
|
(195)
|
|
(226)
|
(204)
|
(206)
|
(221)
|
Attributable profit
|
1,117
|
1,446
|
2,108
|
1,704
|
|
220
|
611
|
90
|
605
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
9.3%
|
11.9%
|
18.1%
|
14.7%
|
|
1.8%
|
5.1%
|
0.7%
|
5.1%
|
Average tangible shareholders' equity (£bn)
|
48.2
|
48.4
|
46.5
|
46.5
|
|
47.6
|
48.3
|
50.2
|
47.0
|
Cost: income ratio
|
72%
|
64%
|
67%
|
61%
|
|
77%
|
67%
|
62%
|
52%
|
Loan loss rate (bps)
|
—
|
13
|
—
|
6
|
|
56
|
69
|
179
|
223
|
Basic earnings per share
|
6.6p
|
8.5p
|
12.3p
|
9.9p
|
|
1.3p
|
3.5p
|
0.5p
|
3.5p
|
Basic weighted average number of shares (m)
|
16,985
|
17,062
|
17,140
|
17,293
|
|
17,300
|
17,298
|
17,294
|
17,278
|
Period end number of shares (m)
|
16,752
|
16,851
|
16,998
|
17,223
|
|
17,359
|
17,353
|
17,345
|
17,332
|
|
|
|
|
|
|
|
|
|
|
Balance sheet and capital management1
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
361.5
|
353.0
|
348.5
|
345.8
|
|
342.6
|
344.4
|
354.9
|
374.1
|
Loans and advances at amortised cost impairment coverage
ratio
|
1.6%
|
1.7%
|
1.8%
|
2.2%
|
|
2.4%
|
2.5%
|
2.5%
|
2.1%
|
Total assets
|
1,384.3
|
1,406.5
|
1,376.3
|
1,379.7
|
|
1,349.5
|
1,421.7
|
1,385.1
|
1,444.3
|
Deposits at amortised cost
|
519.4
|
510.2
|
500.9
|
498.8
|
|
481.0
|
494.6
|
466.9
|
470.7
|
Tangible net asset value per share
|
292p
|
287p
|
281p
|
267p
|
|
269p
|
275p
|
284p
|
284p
|
Common equity tier 1 ratio
|
15.1%
|
15.4%
|
15.1%
|
14.6%
|
|
15.1%
|
14.6%
|
14.2%
|
13.1%
|
Common equity tier 1 capital
|
47.5
|
47.3
|
46.2
|
45.9
|
|
46.3
|
45.5
|
45.4
|
42.5
|
Risk weighted assets
|
314.1
|
307.5
|
306.4
|
313.4
|
|
306.2
|
310.7
|
319.0
|
325.6
|
Average UK leverage ratio
|
4.9%
|
4.9%
|
4.8%
|
4.9%
|
|
5.0%
|
5.1%
|
4.7%
|
4.5%
|
Average UK leverage exposure
|
1,227.1
|
1,199.8
|
1,192.0
|
1,174.9
|
|
1,146.9
|
1,111.1
|
1,148.7
|
1,176.2
|
UK leverage ratio
|
5.3%
|
5.1%
|
5.0%
|
5.0%
|
|
5.3%
|
5.2%
|
5.2%
|
4.5%
|
UK leverage exposure
|
1,136.0
|
1,161.0
|
1,153.6
|
1,145.4
|
|
1,090.9
|
1,095.1
|
1,071.1
|
1,178.7
|
|
|
|
|
|
|
|
|
|
|
Funding and liquidity
|
|
|
|
|
|
|
|
|
|
Group liquidity pool (£bn)
|
291
|
293
|
291
|
290
|
|
266
|
327
|
298
|
237
|
Liquidity coverage ratio
|
168%
|
161%
|
162%
|
161%
|
|
162%
|
181%
|
186%
|
155%
|
Loan: deposit ratio
|
70%
|
69%
|
70%
|
69%
|
|
71%
|
70%
|
76%
|
79%
|
1
|
Refer to pages
48 to 53 for further information on how capital, RWAs and leverage
are calculated.
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
Q421
|
Q321
|
Q221
|
Q121
|
|
Q420
|
Q320
|
Q220
|
Q120
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
1,313
|
1,303
|
1,305
|
1,281
|
|
1,317
|
1,280
|
1,225
|
1,412
|
Net fee, commission and other income
|
386
|
335
|
318
|
295
|
|
309
|
270
|
242
|
292
|
Total income
|
1,699
|
1,638
|
1,623
|
1,576
|
|
1,626
|
1,550
|
1,467
|
1,704
|
Credit impairment releases/(charges)
|
59
|
(137)
|
520
|
(77)
|
|
(170)
|
(233)
|
(583)
|
(481)
|
Net operating income
|
1,758
|
1,501
|
2,143
|
1,499
|
|
1,456
|
1,317
|
884
|
1,223
|
Operating costs
|
(1,202)
|
(1,041)
|
(1,078)
|
(1,036)
|
|
(1,134)
|
(1,095)
|
(1,018)
|
(1,023)
|
UK bank levy
|
(36)
|
—
|
—
|
—
|
|
(50)
|
—
|
—
|
—
|
Litigation and conduct
|
(5)
|
(10)
|
(19)
|
(3)
|
|
4
|
(25)
|
(6)
|
(5)
|
Total operating expenses
|
(1,243)
|
(1,051)
|
(1,097)
|
(1,039)
|
|
(1,180)
|
(1,120)
|
(1,024)
|
(1,028)
|
Other net (expenses)/income
|
(1)
|
1
|
—
|
—
|
|
6
|
(1)
|
13
|
—
|
Profit/(loss) before tax
|
514
|
451
|
1,046
|
460
|
|
282
|
196
|
(127)
|
195
|
Attributable profit/(loss)
|
420
|
317
|
721
|
298
|
|
160
|
113
|
(123)
|
175
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
208.8
|
208.6
|
207.8
|
205.7
|
|
205.4
|
203.9
|
202.0
|
195.7
|
Total assets
|
321.2
|
312.1
|
311.2
|
309.1
|
|
289.1
|
294.5
|
287.6
|
267.5
|
Customer deposits at amortised cost
|
260.6
|
256.8
|
255.5
|
247.5
|
|
240.5
|
232.0
|
225.7
|
207.5
|
Loan: deposit ratio
|
85%
|
86%
|
87%
|
88%
|
|
89%
|
91%
|
92%
|
96%
|
Risk weighted assets
|
72.3
|
73.2
|
72.2
|
72.7
|
|
73.7
|
76.2
|
77.9
|
77.7
|
Period end allocated tangible equity
|
10.0
|
10.0
|
9.9
|
10.0
|
|
9.7
|
10.0
|
10.3
|
10.3
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
16.8%
|
12.7%
|
29.1%
|
12.0%
|
|
6.5%
|
4.5%
|
(4.8)%
|
6.9%
|
Average allocated tangible equity (£bn)
|
10.0
|
10.0
|
9.9
|
9.9
|
|
9.8
|
10.1
|
10.3
|
10.1
|
Cost: income ratio
|
73%
|
64%
|
68%
|
66%
|
|
73%
|
72%
|
70%
|
60%
|
Loan loss rate (bps)
|
—
|
24
|
—
|
14
|
|
31
|
43
|
111
|
96
|
Net interest margin
|
2.49%
|
2.49%
|
2.55%
|
2.54%
|
|
2.56%
|
2.51%
|
2.48%
|
2.91%
|
Analysis of Barclays UK
|
Q421
|
Q321
|
Q221
|
Q121
|
|
Q420
|
Q320
|
Q220
|
Q120
|
Analysis of total income
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Personal Banking
|
983
|
990
|
987
|
923
|
|
895
|
833
|
826
|
968
|
Barclaycard Consumer UK
|
352
|
293
|
290
|
315
|
|
354
|
362
|
367
|
436
|
Business Banking
|
364
|
355
|
346
|
338
|
|
377
|
355
|
274
|
300
|
Total income
|
1,699
|
1,638
|
1,623
|
1,576
|
|
1,626
|
1,550
|
1,467
|
1,704
|
|
|
|
|
|
|
|
|
|
|
Analysis of credit impairment releases/(charges)
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
8
|
(30)
|
72
|
(22)
|
|
(68)
|
(48)
|
(130)
|
(134)
|
Barclaycard Consumer UK
|
114
|
(108)
|
434
|
(36)
|
|
(78)
|
(106)
|
(396)
|
(301)
|
Business Banking
|
(63)
|
1
|
14
|
(19)
|
|
(24)
|
(79)
|
(57)
|
(46)
|
Total credit impairment releases/(charges)
|
59
|
(137)
|
520
|
(77)
|
|
(170)
|
(233)
|
(583)
|
(481)
|
|
|
|
|
|
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Personal Banking
|
165.4
|
164.6
|
162.4
|
160.4
|
|
157.3
|
155.7
|
154.9
|
153.4
|
Barclaycard Consumer UK
|
8.7
|
8.6
|
8.8
|
8.7
|
|
9.9
|
10.7
|
11.5
|
13.6
|
Business Banking
|
34.7
|
35.4
|
36.6
|
36.6
|
|
38.2
|
37.5
|
35.6
|
28.7
|
Total loans and advances to customers at amortised
cost
|
208.8
|
208.6
|
207.8
|
205.7
|
|
205.4
|
203.9
|
202.0
|
195.7
|
|
|
|
|
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
196.4
|
193.3
|
191.0
|
186.0
|
|
179.7
|
173.2
|
169.6
|
161.4
|
Barclaycard Consumer UK
|
—
|
—
|
0.1
|
0.1
|
|
0.1
|
0.1
|
0.1
|
—
|
Business Banking
|
64.2
|
63.5
|
64.4
|
61.4
|
|
60.7
|
58.7
|
56.0
|
46.1
|
Total customer deposits at amortised cost
|
260.6
|
256.8
|
255.5
|
247.5
|
|
240.5
|
232.0
|
225.7
|
207.5
|
Barclays International
|
|
|
|
|
|
|
|
|
|
|
Q421
|
Q321
|
Q221
|
Q121
|
|
Q420
|
Q320
|
Q220
|
Q120
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
955
|
749
|
811
|
748
|
|
614
|
823
|
847
|
998
|
Net trading income
|
789
|
1,515
|
1,455
|
1,934
|
|
1,372
|
1,528
|
1,660
|
2,360
|
Net fee, commission and other income
|
1,766
|
1,673
|
1,553
|
1,717
|
|
1,500
|
1,430
|
1,503
|
1,286
|
Total income
|
3,510
|
3,937
|
3,819
|
4,399
|
|
3,486
|
3,781
|
4,010
|
4,644
|
Credit impairment (charges)/releases
|
(23)
|
18
|
271
|
22
|
|
(291)
|
(370)
|
(1,010)
|
(1,609)
|
Net operating income
|
3,487
|
3,955
|
4,090
|
4,421
|
|
3,195
|
3,411
|
3,000
|
3,035
|
Operating costs
|
(2,160)
|
(2,310)
|
(2,168)
|
(2,438)
|
|
(2,133)
|
(2,227)
|
(2,186)
|
(2,219)
|
UK bank levy
|
(134)
|
—
|
—
|
—
|
|
(240)
|
—
|
—
|
—
|
Litigation and conduct
|
(38)
|
(3)
|
(63)
|
(21)
|
|
(9)
|
(28)
|
(11)
|
—
|
Total operating expenses
|
(2,332)
|
(2,313)
|
(2,231)
|
(2,459)
|
|
(2,382)
|
(2,255)
|
(2,197)
|
(2,219)
|
Other net income
|
3
|
15
|
13
|
9
|
|
9
|
9
|
4
|
6
|
Profit before tax
|
1,158
|
1,657
|
1,872
|
1,971
|
|
822
|
1,165
|
807
|
822
|
Attributable profit
|
856
|
1,263
|
1,267
|
1,431
|
|
441
|
782
|
468
|
529
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
133.8
|
125.9
|
121.9
|
123.5
|
|
122.7
|
128.0
|
138.1
|
167.0
|
Trading portfolio assets
|
146.9
|
144.8
|
147.1
|
131.1
|
|
127.7
|
122.3
|
109.5
|
101.6
|
Derivative financial instrument assets
|
261.5
|
257.0
|
255.4
|
269.4
|
|
301.8
|
295.9
|
306.8
|
341.5
|
Financial assets at fair value through the income
statement
|
188.2
|
200.5
|
190.4
|
197.5
|
|
170.7
|
178.2
|
154.3
|
188.4
|
Cash collateral and settlement balances
|
88.1
|
115.9
|
108.5
|
109.7
|
|
97.5
|
121.8
|
130.8
|
153.2
|
Other assets
|
225.6
|
231.8
|
223.5
|
221.7
|
|
221.4
|
261.7
|
236.3
|
201.5
|
Total assets
|
1,044.1
|
1,075.9
|
1,046.8
|
1,052.9
|
|
1,041.8
|
1,107.9
|
1,075.8
|
1,153.2
|
Deposits at amortised cost
|
258.8
|
253.3
|
245.4
|
251.2
|
|
240.5
|
262.4
|
241.2
|
263.3
|
Derivative financial instrument liabilities
|
256.4
|
252.3
|
246.9
|
260.2
|
|
300.4
|
293.3
|
307.6
|
338.8
|
Loan: deposit ratio
|
52%
|
50%
|
50%
|
49%
|
|
51%
|
49%
|
57%
|
63%
|
Risk weighted assets
|
230.9
|
222.7
|
223.2
|
230.0
|
|
222.3
|
224.7
|
231.2
|
237.9
|
Period end allocated tangible equity
|
33.2
|
31.8
|
31.8
|
32.7
|
|
30.2
|
30.5
|
31.6
|
33.1
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
10.4%
|
15.9%
|
15.6%
|
17.7%
|
|
5.8%
|
10.2%
|
5.6%
|
6.8%
|
Average allocated tangible equity (£bn)
|
32.9
|
31.8
|
32.4
|
32.3
|
|
30.5
|
30.6
|
33.5
|
31.2
|
Cost: income ratio
|
66%
|
59%
|
58%
|
56%
|
|
68%
|
60%
|
55%
|
48%
|
Loan loss rate (bps)
|
7
|
—
|
—
|
(7)
|
|
90
|
112
|
284
|
377
|
Net interest margin
|
4.14%
|
4.02%
|
3.96%
|
3.92%
|
|
3.41%
|
3.79%
|
3.43%
|
3.93%
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
Q421
|
Q321
|
Q221
|
Q121
|
|
Q420
|
Q320
|
Q220
|
Q120
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
432
|
279
|
370
|
270
|
|
110
|
305
|
334
|
335
|
Net trading income
|
774
|
1,467
|
1,494
|
1,917
|
|
1,397
|
1,535
|
1,812
|
2,231
|
Net fee, commission and other income
|
1,426
|
1,383
|
1,115
|
1,407
|
|
1,131
|
1,065
|
1,170
|
1,051
|
Total income
|
2,632
|
3,129
|
2,979
|
3,594
|
|
2,638
|
2,905
|
3,316
|
3,617
|
Credit impairment releases/(charges)
|
73
|
128
|
229
|
43
|
|
(52)
|
(187)
|
(596)
|
(724)
|
Net operating income
|
2,705
|
3,257
|
3,208
|
3,637
|
|
2,586
|
2,718
|
2,720
|
2,893
|
Operating costs
|
(1,562)
|
(1,747)
|
(1,623)
|
(1,886)
|
|
(1,603)
|
(1,716)
|
(1,680)
|
(1,690)
|
UK bank levy
|
(128)
|
—
|
—
|
—
|
|
(226)
|
—
|
—
|
—
|
Litigation and conduct
|
(13)
|
(2)
|
(1)
|
(1)
|
|
2
|
(3)
|
(3)
|
—
|
Total operating expenses
|
(1,703)
|
(1,749)
|
(1,624)
|
(1,887)
|
|
(1,827)
|
(1,719)
|
(1,683)
|
(1,690)
|
Other net income
|
1
|
—
|
—
|
1
|
|
2
|
1
|
3
|
—
|
Profit before tax
|
1,003
|
1,508
|
1,584
|
1,751
|
|
761
|
1,000
|
1,040
|
1,203
|
Attributable profit
|
733
|
1,157
|
1,049
|
1,263
|
|
413
|
627
|
694
|
820
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
100.0
|
93.8
|
91.0
|
94.3
|
|
92.4
|
96.8
|
104.9
|
128.2
|
Trading portfolio assets
|
146.7
|
144.7
|
147.0
|
130.9
|
|
127.5
|
122.2
|
109.3
|
101.5
|
Derivative financial instruments assets
|
261.5
|
256.9
|
255.3
|
269.4
|
|
301.7
|
295.9
|
306.7
|
341.4
|
Financial assets at fair value through the income
statement
|
188.1
|
200.4
|
190.3
|
197.3
|
|
170.4
|
177.9
|
153.7
|
187.8
|
Cash collateral and settlement balances
|
87.2
|
115.1
|
107.7
|
108.8
|
|
96.7
|
121.0
|
129.7
|
152.2
|
Other assets
|
195.8
|
200.4
|
192.5
|
190.8
|
|
194.9
|
228.9
|
205.5
|
171.4
|
Total assets
|
979.3
|
1,011.3
|
983.8
|
991.5
|
|
983.6
|
1,042.7
|
1,009.8
|
1,082.5
|
Deposits at amortised cost
|
189.4
|
185.8
|
178.2
|
185.2
|
|
175.2
|
195.6
|
173.9
|
198.4
|
Derivative financial instrument liabilities
|
256.4
|
252.2
|
246.8
|
260.2
|
|
300.3
|
293.2
|
307.6
|
338.7
|
Risk weighted assets
|
200.7
|
192.5
|
194.3
|
201.3
|
|
192.2
|
193.3
|
198.3
|
201.7
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
10.2%
|
16.6%
|
14.8%
|
17.9%
|
|
6.3%
|
9.5%
|
9.6%
|
12.5%
|
Average allocated tangible equity (£bn)
|
28.7
|
27.8
|
28.4
|
28.2
|
|
26.3
|
26.4
|
29.0
|
26.2
|
Cost: income ratio
|
65%
|
56%
|
55%
|
53%
|
|
69%
|
59%
|
51%
|
47%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of total income
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
FICC
|
546
|
803
|
895
|
1,204
|
|
812
|
1,000
|
1,468
|
1,858
|
Equities
|
501
|
757
|
777
|
932
|
|
542
|
691
|
674
|
564
|
Global Markets
|
1,047
|
1,560
|
1,672
|
2,136
|
|
1,354
|
1,691
|
2,142
|
2,422
|
Advisory
|
287
|
253
|
218
|
163
|
|
232
|
90
|
84
|
155
|
Equity capital markets
|
158
|
186
|
226
|
243
|
|
104
|
122
|
185
|
62
|
Debt capital markets
|
511
|
532
|
429
|
453
|
|
418
|
398
|
463
|
418
|
Investment Banking fees
|
956
|
971
|
873
|
859
|
|
754
|
610
|
732
|
635
|
Corporate lending
|
176
|
168
|
38
|
206
|
|
186
|
232
|
61
|
111
|
Transaction banking
|
453
|
430
|
396
|
393
|
|
344
|
372
|
381
|
449
|
Corporate
|
629
|
598
|
434
|
599
|
|
530
|
604
|
442
|
560
|
Total income
|
2,632
|
3,129
|
2,979
|
3,594
|
|
2,638
|
2,905
|
3,316
|
3,617
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer, Cards and Payments
|
Q421
|
Q321
|
Q221
|
Q121
|
|
Q420
|
Q320
|
Q220
|
Q120
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
522
|
471
|
441
|
478
|
|
504
|
518
|
513
|
663
|
Net fee, commission, trading and other income
|
356
|
337
|
399
|
327
|
|
344
|
358
|
181
|
364
|
Total income
|
878
|
808
|
840
|
805
|
|
848
|
876
|
694
|
1,027
|
Credit impairment (charges)/releases
|
(96)
|
(110)
|
42
|
(21)
|
|
(239)
|
(183)
|
(414)
|
(885)
|
Net operating income
|
782
|
698
|
882
|
784
|
|
609
|
693
|
280
|
142
|
Operating costs
|
(598)
|
(563)
|
(545)
|
(552)
|
|
(530)
|
(511)
|
(506)
|
(529)
|
UK bank levy
|
(6)
|
—
|
—
|
—
|
|
(14)
|
—
|
—
|
—
|
Litigation and conduct
|
(25)
|
(1)
|
(62)
|
(20)
|
|
(11)
|
(25)
|
(8)
|
—
|
Total operating expenses
|
(629)
|
(564)
|
(607)
|
(572)
|
|
(555)
|
(536)
|
(514)
|
(529)
|
Other net income
|
2
|
15
|
13
|
8
|
|
7
|
8
|
1
|
6
|
Profit/(loss) before tax
|
155
|
149
|
288
|
220
|
|
61
|
165
|
(233)
|
(381)
|
Attributable profit/(loss)
|
123
|
106
|
218
|
168
|
|
28
|
155
|
(226)
|
(291)
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
33.8
|
32.1
|
30.9
|
29.2
|
|
30.3
|
31.2
|
33.2
|
38.8
|
Total assets
|
64.8
|
64.6
|
63.0
|
61.4
|
|
58.2
|
65.2
|
66.0
|
70.7
|
Deposits at amortised cost
|
69.4
|
67.5
|
67.2
|
66.0
|
|
65.3
|
66.8
|
67.3
|
64.9
|
Risk weighted assets
|
30.2
|
30.2
|
29.0
|
28.8
|
|
30.1
|
31.4
|
32.9
|
36.2
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
11.7%
|
10.5%
|
21.8%
|
16.5%
|
|
2.7%
|
14.7%
|
(20.2)%
|
(23.5)%
|
Average allocated tangible equity (£bn)
|
4.2
|
4.0
|
4.0
|
4.1
|
|
4.2
|
4.2
|
4.5
|
5.0
|
Cost: income ratio
|
72%
|
70%
|
72%
|
71%
|
|
65%
|
61%
|
74%
|
52%
|
Loan loss rate (bps)
|
105
|
127
|
—
|
27
|
|
286
|
211
|
455
|
846
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of total income
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
International Cards and Consumer Bank
|
552
|
490
|
517
|
533
|
|
576
|
600
|
567
|
690
|
Private Bank
|
200
|
188
|
214
|
179
|
|
174
|
171
|
160
|
202
|
Unified Payments
|
126
|
130
|
109
|
93
|
|
98
|
105
|
(33)
|
135
|
Total income
|
878
|
808
|
840
|
805
|
|
848
|
876
|
694
|
1,027
|
Head Office
|
|
|
|
|
|
|
|
|
|
|
Q421
|
Q321
|
Q221
|
Q121
|
|
Q420
|
Q320
|
Q220
|
Q120
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
(38)
|
(112)
|
(64)
|
(178)
|
|
(86)
|
(48)
|
(180)
|
(79)
|
Net fee, commission and other income
|
(11)
|
2
|
37
|
103
|
|
(85)
|
(79)
|
41
|
14
|
Total income
|
(49)
|
(110)
|
(27)
|
(75)
|
|
(171)
|
(127)
|
(139)
|
(65)
|
Credit impairment (charges)/releases
|
(5)
|
(1)
|
6
|
—
|
|
(31)
|
(5)
|
(30)
|
(25)
|
Net operating expenses
|
(54)
|
(111)
|
(21)
|
(75)
|
|
(202)
|
(132)
|
(169)
|
(90)
|
Operating costs
|
(152)
|
(95)
|
(341)
|
(71)
|
|
(213)
|
(69)
|
(106)
|
(11)
|
UK bank levy
|
—
|
—
|
—
|
—
|
|
(9)
|
—
|
—
|
—
|
Litigation and conduct
|
(3)
|
(19)
|
16
|
(9)
|
|
(42)
|
(23)
|
(3)
|
(5)
|
Total operating expenses
|
(155)
|
(114)
|
(325)
|
(80)
|
|
(264)
|
(92)
|
(109)
|
(16)
|
Other net income/(expenses)
|
11
|
78
|
8
|
123
|
|
8
|
10
|
(43)
|
2
|
Loss before tax
|
(198)
|
(147)
|
(338)
|
(32)
|
|
(458)
|
(214)
|
(321)
|
(104)
|
Attributable (loss)/profit
|
(159)
|
(134)
|
120
|
(25)
|
|
(381)
|
(284)
|
(255)
|
(99)
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Total assets
|
19.0
|
18.5
|
18.3
|
17.7
|
|
18.6
|
19.3
|
21.7
|
23.6
|
Risk weighted assets
|
11.0
|
11.5
|
11.1
|
10.7
|
|
10.2
|
9.8
|
9.9
|
10.0
|
Period end allocated tangible equity
|
5.7
|
6.5
|
5.9
|
3.3
|
|
6.8
|
7.1
|
7.4
|
6.0
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
5.3
|
6.6
|
4.2
|
4.3
|
|
7.3
|
7.6
|
6.4
|
5.6
|
|
|
|
|
|
|
|
|
|
|
Margins and balances
|
|
|
|
|
|
|
|
Year ended 31.12.21
|
Year ended 31.12.20
|
||||
|
Net interest income
|
Average customer assets
|
Net interest margin
|
Net interest income
|
Average customer assets
|
Net interest margin
|
|
£m
|
£m
|
%
|
£m
|
£m
|
%
|
Barclays UK
|
5,202
|
206,628
|
2.52
|
5,234
|
200,317
|
2.61
|
Barclays
International1
|
3,149
|
78,530
|
4.01
|
3,382
|
92,909
|
3.64
|
Total Barclays UK and Barclays International
|
8,351
|
285,158
|
2.93
|
8,616
|
293,226
|
2.94
|
Other2
|
(278)
|
|
|
(494)
|
|
|
Total Barclays Group
|
8,073
|
|
|
8,122
|
|
|
1
|
Barclays
International margins include IEL balances within the investment
banking business.
|
2
|
Other includes
Head Office and non-lending related investment banking businesses
not included in Barclays International margins.
|
Quarterly analysis for Barclays UK and Barclays
International
|
Net interest income
|
Average customer assets
|
Net interest margin
|
Three months ended 31.12.21
|
£m
|
£m
|
%
|
Barclays UK
|
1,313
|
209,064
|
2.49
|
Barclays
International1
|
848
|
81,244
|
4.14
|
Total Barclays UK and Barclays International
|
2,161
|
290,308
|
2.95
|
|
|
|
|
Three months ended 30.09.21
|
|
|
|
Barclays UK
|
1,303
|
207,692
|
2.49
|
Barclays
International1
|
783
|
77,364
|
4.02
|
Total Barclays UK and Barclays International
|
2,086
|
285,056
|
2.90
|
|
|
|
|
Three months ended 30.06.21
|
|
|
|
Barclays UK
|
1,305
|
205,168
|
2.55
|
Barclays
International1
|
763
|
77,330
|
3.96
|
Total Barclays UK and Barclays International
|
2,068
|
282,498
|
2.94
|
|
|
|
|
Three months ended 31.03.21
|
|
|
|
Barclays UK
|
1,281
|
204,663
|
2.54
|
Barclays
International1
|
755
|
78,230
|
3.92
|
Total Barclays UK and Barclays International
|
2,036
|
282,893
|
2.92
|
|
|
|
|
Three months ended 31.12.20
|
|
|
|
Barclays UK
|
1,317
|
204,315
|
2.56
|
Barclays
International1,2
|
696
|
81,312
|
3.41
|
Total Barclays UK and Barclays International
|
2,013
|
285,627
|
2.80
|
1
|
Barclays
International margins include IEL balances within the investment
banking business.
|
2
|
The
reclassification of expense of the premium paid for purchased
financial guarantees from net investment income to net interest
income was recognised in full in Q420 and resulted in a 0.48%
reduction on the Q420 Barclays International NIM and 0.14%
reduction on the Q420 Total Barclays UK and Barclays International
NIM. Had the equivalent impact been reflected in the respective
quarters, the Barclays International NIM would have been 3.77% in
Q420. Total Barclays UK and Barclays International NIMs would have
been 2.91% in Q420.
|
|
Year ended
31.12.21
|
Year ended
31.12.20
|
|
|
£m
|
£m
|
% Change
|
Incentive awards granted:
|
|
|
|
Current year bonus
|
1,278
|
1,090
|
(17)
|
Deferred bonus
|
667
|
490
|
(36)
|
Total incentive awards granted
|
1,945
|
1,580
|
(23)
|
|
|
|
|
Reconciliation of incentive awards granted to income statement
charge:
|
|
|
|
Less: deferred bonuses granted but not charged in current
year
|
(457)
|
(335)
|
(36)
|
Add: current year charges for deferred bonuses from previous
years
|
280
|
293
|
4
|
Other differences between incentive awards granted and income
statement charge
|
(23)
|
(34)
|
32
|
Income statement charge for performance costs
|
1,745
|
1,504
|
(16)
|
|
|
|
|
Other income statement charges:
|
|
|
|
Salaries
|
4,290
|
4,322
|
1
|
Social security costs
|
619
|
613
|
(1)
|
Post-retirement
benefits1
|
539
|
519
|
(4)
|
Other compensation costs
|
431
|
479
|
10
|
Total compensation costs2
|
7,624
|
7,437
|
(3)
|
|
|
|
|
Other resourcing costs
|
|
|
|
Outsourcing
|
357
|
342
|
(4)
|
Redundancy and restructuring
|
296
|
102
|
|
Temporary staff costs
|
109
|
102
|
(7)
|
Other
|
125
|
114
|
(10)
|
Total other resourcing costs
|
887
|
660
|
(34)
|
|
|
|
|
Total staff costs
|
8,511
|
8,097
|
(5)
|
|
|
|
|
Group compensation costs as a % of total income
|
34.7
|
34.2
|
|
Group staff costs as a % of total income
|
38.8
|
37.2
|
|
1
|
Post-retirement
benefits charge includes £289m (2020: £279m) in respect
of defined contribution schemes and £250m (2020: £240m)
in respect of defined benefit schemes.
|
2
|
£484m
(2020: £451m) of Group compensation was capitalised as
internally generated software and excluded from the Staff cost
disclosed above.
|
|
Actual
|
|
Expected1,
2
|
||
|
Year ended
|
Year ended
|
|
Year ended
|
2023 and
|
|
31.12.20
|
31.12.21
|
|
31.12.22
|
beyond
|
|
£m
|
£m
|
|
£m
|
£m
|
Deferred bonuses from 2018 and earlier bonus pools
|
158
|
49
|
|
9
|
1
|
Deferred bonuses from 2019 bonus pool
|
135
|
92
|
|
43
|
8
|
Deferred bonuses from 2020 bonus pool
|
155
|
139
|
|
130
|
67
|
Deferred bonuses from 2021 bonus pool
|
—
|
210
|
|
201
|
187
|
Income statement charge for deferred bonuses
|
448
|
490
|
|
383
|
263
|
1
|
The actual
amount charged depends upon whether conditions have been met and
may vary compared with the above expectation.
|
2
|
Does not
include the impact of grants which will be made in 2022 and
beyond.
|
1
|
Represents a
typical vesting schedule for deferred awards. Certain awards may be
subject to a 4-, 5- or 7-year deferral in line with regulatory
requirements.
|
2
|
Share awards
may be subject to an additional holding period.
|
3
|
The income
statement charge is based on the period over which conditions are
met.
|
4
|
Income
statement charge profile % disclosed as a percentage of the award
excluding lapse.
|
1
|
Includes Wealth and Private Banking exposures
measured on an individual basis, and excludes Business Banking
exposures, including BBLs of £9.4bn that are managed on a collective basis and
reported within BUK Retail. The net impact is a difference in total
exposure of £5,993m of balances reported as wholesale loans on
page 31 in the Loans and advances at amortised cost by product
disclosure.
|
2
|
Excludes loan
commitments and financial guarantees of £18.8bn carried at
fair value.
|
3
|
Other financial
assets subject to impairment not included in the table above
include cash collateral and settlement balances, financial assets
at fair value through other comprehensive income and other assets.
These have a total gross exposure of £155.2bn and impairment
allowance of £114m. This comprises £6m ECL on
£154.9bn Stage 1 assets, £1m on £157m Stage 2 fair
value through other comprehensive income assets, cash collateral
and settlement balances and £107m on £110m Stage 3 other
assets.
|
1
|
Private Banking
have refined the methodology to classify £5bn of their
exposure between Wholesale and Retail during the
year.
|
2
|
Includes Wealth
and Private Banking exposures measured on an individual basis, and
excludes Business Banking exposures that are managed on a
collective basis. The net impact is a difference in total exposure
of £7,551m of balances reported as wholesale loans on page 31
in the Loans and advances at amortised cost by product
disclosure.
|
3
|
Excludes loan
commitments and financial guarantees of £9.5bn carried at fair
value.
|
4
|
Other financial
assets subject to impairment not included in the table above
include cash collateral and settlement balances, financial assets
at fair value through other comprehensive income and other assets.
These have a total gross exposure of £180.3bn and impairment
allowance of £165m. This comprises £11m ECL on
£175.7bn Stage 1 assets, £9m on £4.4bn Stage 2 fair
value through other comprehensive income assets, other assets and
cash collateral and settlement balances and £145m on
£154m Stage 3 other assets.
|
5
|
The loan loss
rate is 138 bps after applying the total impairment charge of
£4,838m.
|
|
|
Stage 2
|
|
|
|||
As at 31.12.21
|
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
|
148,058
|
17,133
|
1,660
|
707
|
19,500
|
2,122
|
169,680
|
Credit cards, unsecured loans and other retail lending
|
37,840
|
5,102
|
300
|
248
|
5,650
|
2,332
|
45,822
|
Wholesale loans
|
132,967
|
15,246
|
306
|
391
|
15,943
|
2,781
|
151,691
|
Total
|
318,865
|
37,481
|
2,266
|
1,346
|
41,093
|
7,235
|
367,193
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Home loans
|
19
|
46
|
6
|
7
|
59
|
397
|
475
|
Credit cards, unsecured loans and other retail lending
|
824
|
1,493
|
85
|
123
|
1,701
|
1,504
|
4,029
|
Wholesale loans
|
363
|
248
|
4
|
3
|
255
|
620
|
1,238
|
Total
|
1,206
|
1,787
|
95
|
133
|
2,015
|
2,521
|
5,742
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Home loans
|
148,039
|
17,087
|
1,654
|
700
|
19,441
|
1,725
|
169,205
|
Credit cards, unsecured loans and other retail lending
|
37,016
|
3,609
|
215
|
125
|
3,949
|
828
|
41,793
|
Wholesale loans
|
132,604
|
14,998
|
302
|
388
|
15,688
|
2,161
|
150,453
|
Total
|
317,659
|
35,694
|
2,171
|
1,213
|
39,078
|
4,714
|
361,451
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Home loans
|
—
|
0.3
|
0.4
|
1.0
|
0.3
|
18.7
|
0.3
|
Credit cards, unsecured loans and other retail lending
|
2.2
|
29.3
|
28.3
|
49.6
|
30.1
|
64.5
|
8.8
|
Wholesale loans
|
0.3
|
1.6
|
1.3
|
0.8
|
1.6
|
22.3
|
0.8
|
Total
|
0.4
|
4.8
|
4.2
|
9.9
|
4.9
|
34.8
|
1.6
|
|
|
|
|
|
|
|
|
As at 31.12.20
|
|
|
|
|
|
|
|
Gross exposure
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Home loans
|
138,639
|
16,651
|
1,785
|
876
|
19,312
|
2,234
|
160,185
|
Credit cards, unsecured loans and other retail lending
|
33,021
|
9,470
|
544
|
306
|
10,320
|
3,172
|
46,513
|
Wholesale loans
|
119,304
|
19,501
|
1,097
|
776
|
21,374
|
3,591
|
144,269
|
Total
|
290,964
|
45,622
|
3,426
|
1,958
|
51,006
|
8,997
|
350,967
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Home Loans
|
33
|
57
|
13
|
14
|
84
|
421
|
538
|
Credit cards, unsecured loans and other retail lending
|
680
|
2,382
|
180
|
207
|
2,769
|
2,251
|
5,700
|
Wholesale Loans
|
320
|
650
|
50
|
11
|
711
|
1,066
|
2,097
|
Total
|
1,033
|
3,089
|
243
|
232
|
3,564
|
3,738
|
8,335
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Home loans
|
138,606
|
16,594
|
1,772
|
862
|
19,228
|
1,813
|
159,647
|
Credit cards, unsecured loans and other retail lending
|
32,341
|
7,088
|
364
|
99
|
7,551
|
921
|
40,813
|
Wholesale loans
|
118,984
|
18,851
|
1,047
|
765
|
20,663
|
2,525
|
142,172
|
Total
|
289,931
|
42,533
|
3,183
|
1,726
|
47,442
|
5,259
|
342,632
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Home loans
|
—
|
0.3
|
0.7
|
1.6
|
0.4
|
18.8
|
0.3
|
Credit cards, unsecured loans and other retail lending
|
2.1
|
25.2
|
33.1
|
67.6
|
26.8
|
71.0
|
12.3
|
Wholesale loans
|
0.3
|
3.3
|
4.6
|
1.4
|
3.3
|
29.7
|
1.5
|
Total
|
0.4
|
6.8
|
7.1
|
11.8
|
7.0
|
41.5
|
2.4
|
|
Gross exposure
|
|
Impairment allowance
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
As at 31.12.21
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Air travel
|
232
|
201
|
94
|
527
|
|
9
|
5
|
37
|
51
|
Hospitality and leisure
|
4,898
|
986
|
377
|
6,261
|
|
26
|
19
|
45
|
90
|
Oil and gas
|
1,765
|
576
|
62
|
2,403
|
|
14
|
9
|
21
|
44
|
Retail
|
3,901
|
780
|
192
|
4,873
|
|
38
|
14
|
39
|
91
|
Shipping
|
382
|
201
|
25
|
608
|
|
9
|
8
|
—
|
17
|
Transportation
|
1,166
|
417
|
156
|
1,739
|
|
18
|
9
|
29
|
56
|
Total
|
12,344
|
3,161
|
906
|
16,411
|
|
114
|
64
|
171
|
349
|
Total of Wholesale exposures
|
9%
|
20%
|
33%
|
11%
|
|
31%
|
25%
|
28%
|
28%
|
|
|
|
|
|
|
|
|
|
|
|
Gross exposure
|
|
Impairment allowance
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
As at 31.12.20
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Air travel
|
367
|
525
|
56
|
948
|
|
9
|
27
|
23
|
59
|
Hospitality and leisure
|
4,440
|
2,387
|
313
|
7,140
|
|
53
|
115
|
61
|
229
|
Oil and gas
|
1,754
|
854
|
465
|
3,073
|
|
31
|
27
|
140
|
198
|
Retail
|
3,907
|
1,153
|
283
|
5,343
|
|
78
|
51
|
108
|
237
|
Shipping
|
308
|
389
|
12
|
709
|
|
2
|
30
|
1
|
33
|
Transportation
|
1,148
|
253
|
125
|
1,526
|
|
19
|
10
|
57
|
86
|
Total
|
11,924
|
5,561
|
1,254
|
18,739
|
|
192
|
260
|
390
|
842
|
Total of Wholesale exposures
|
10%
|
26%
|
35%
|
13%
|
|
60%
|
37%
|
37%
|
40%
|
1
|
Business
activity in the year does not include additional drawdowns on the
existing facility which are reported under “Net drawdowns,
repayments, net re-measurement and movements due to exposure and
risk parameter changes”.
|
2
|
Refinements to
models used for calculation include a £34m movement in Home
loans, £24m in Credit cards, unsecured loans and other retail
lending portfolio and £19m in Wholesale loans. These reflect
methodology changes made during the year. Barclays continually
review the output of models to determine accuracy of the ECL
calculation including review of model monitoring, external
benchmarking and experience of model operation over an extended
period of time. This ensures that the models used continue to
reflect the risks inherent across the
businesses.
|
3
|
The £598m disposals reported within Home
loans relate to transfer of UK Mortgage facilities to a non
consolidated special purpose vehicle for the purpose of
securitisation. £287m disposals reported within Credit cards,
unsecured loans and other retail lending portfolio relates to debt
sales undertaken during the year. The £1.7bn disposal reported
within Wholesale loans includes a sale of £1.0bn of Barclays
Asset Finance and a £0.7bn of debt
sales.
|
4
|
In 2021, gross
write-offs amounted to £1,836m (2020: £1,964m) and post
write-off recoveries amounted to £66m (2020: £35m). Net
write-offs represent gross write-offs less post write-off
recoveries and amounted to £1,770m (2020:
£1,929m).
|
5
|
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 £155.2bn (December 2020:
£180.3bn) and impairment allowance of £114m (December
2020: £165m). This comprises £6m ECL (December 2020:
£11m) on £154.9bn stage 1 assets (December 2020:
£175.7bn), £1m (December 2020: £9m) on £157m
stage 2 fair value through other comprehensive income assets, other
assets and cash collateral and settlement balances (December 2020:
£4.4bn) and £107m (December 2020: £145m) on
£110m stage 3 other assets (December 2020:
£154m).
|
6
|
Transfers and
risk parameter changes include a £0.3bn (2020: £0.6bn)
net release in ECL arising from a reclassification of £1.9bn
(2020: £2.0bn) gross loans and advances from Stage 2 to Stage
1 in Credit cards, unsecured loans and other retail lending. The
reclassification followed a review of back-testing of results which
indicated that accuracy of origination probability of default
characteristics require management adjustments to correct and was
first established in Q220.
|
1
|
Business
activity in the year does not include additional drawdowns on the
existing facility which are reported under “Net drawdowns,
repayments, net re-measurement and movements due to exposure and
risk parameter changes”.
|
2
|
Refinements to
models used for calculation include a £34m movement in Home
Loans, £24m in Credit cards, unsecured loans and other retail
lending portfolio and £19m in Wholesale loans. These reflect
methodology changes made during the year. Barclays continually
review the output of models to determine accuracy of the ECL
calculation including review of model monitoring, external
benchmarking and experience of model operation over an extended
period of time. This ensures that the models used continue to
reflect the risks inherent across the
businesses.
|
3
|
The £598m
disposals reported within Home loans relate to transfer of UK
Mortgage facilities to a non consolidated special purpose vehicle
for the purpose of securitisation. The £287m disposals
reported within Credit cards, unsecured loans and other retail
lending portfolio relates to debt sales undertaken during the year.
The £1.7bn disposal reported within Wholesale loans includes a
£1.0bn sale of Barclays Asset Finance and a £0.7bn of
debt sales.
|
4
|
In 2021, gross
write-offs amounted to £1,836m (2020: £1,964m) and post
write-off recoveries amounted to £66m (2020: £35m). Net
write-offs represent gross write-offs less post write-off
recoveries and amounted to £1,770m (2020:
£1,929m).
|
5
|
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 £155.2bn (December 2020:
£180.3bn) and impairment allowance of £114m (December
2020: £165m). This comprises £6m ECL (December 2020:
£11m) on £154.9bn stage 1 assets (December 2020:
£175.7bn), £1m (December 2020: £9m) on £58m
stage 2 fair value through other comprehensive income assets, other
assets and cash collateral and settlement balances (December 2020:
£4.4bn) and £107m (December 2020: £145m) on
£110m stage 3 other assets (December 2020:
£154m).
|
6
|
Recoveries and
reimbursements includes a net reduction in amounts recoverable from
financial guarantee contracts held with third parties of £306m
(2020 gain: £364m) and post write off recoveries of £66m
(2020: £35m).
|
7
|
Includes
foreign exchange and interest and fees in
suspense.
|
|
As at 31.12.21
|
As at 31.12.20
|
||
|
Management adjustments to impairment allowances
|
Proportion of total impairment allowances
|
Management adjustments to impairment allowances
|
Proportion of total impairment allowances
|
|
£m
|
%
|
£m
|
%
|
Home loans
|
103
|
21.7
|
131
|
24.3
|
Credit cards, unsecured loans and other retail lending
|
1,362
|
32.7
|
1,234
|
20.3
|
Wholesale loans
|
21
|
1.3
|
23
|
0.8
|
Total
|
1,486
|
23.6
|
1,388
|
14.8
|
1
|
Positive values
reflect an increase in impairment allowance and negative values
reflect a reduction in the impairment
allowances.
|
|
Impairment allowance pre management
adjustments2
|
Economic uncertainty adjustments (a)
|
Other adjustments (b)
|
Total management adjustments (a+b)
|
Total impairment
allowance3
|
|
|||||
As at 31 December 2021
|
£m
|
£m
|
£m
|
£m
|
£m
|
Home loans
|
372
|
72
|
31
|
103
|
475
|
Credit cards, unsecured loans and other retail lending
|
2,798
|
1,217
|
145
|
1,362
|
4,160
|
Wholesale
loans4
|
1,628
|
403
|
(382)
|
21
|
1,649
|
Total
|
4,798
|
1,692
|
(206)
|
1,486
|
6,284
|
As at 31 December 2020
|
|
|
|
|
|
Home loans
|
407
|
21
|
110
|
131
|
538
|
Credit cards, unsecured loans and other retail lending
|
4,849
|
1,625
|
(391)
|
1,234
|
6,083
|
Wholesale
loans4
|
2,755
|
421
|
(398)
|
23
|
2,778
|
Total
|
8,011
|
2,067
|
(679)
|
1,388
|
9,399
|
1
|
Positive values
reflect an increase in impairment allowance and negative values
reflect a reduction in the impairment
allowance.
|
2
|
Includes
£4.1bn (2020: £6.8bn) of modelled ECL, £0.5bn (2020:
£0.9bn) of individually assessed impairments and £0.2bn
(2020: £0.3bn) ECL from non-modelled
exposures.
|
3
|
Total
impairment allowance consists of ECL stock on drawn and undrawn
exposures.
|
4
|
Other
adjustments include £(0.4)bn related to Bounce back loan
government guarantee in 2021. In the prior year, the adjustment was
£(0.1)bn and was presented under economic
uncertainty.
|
a.
|
An
adjustment of £0.4bn (2020: £0.7bn) to adjust the
probability of default (PDs) to pre-COVID-19 levels to offset the
temporary improvement to PDs in light of reduced customer spend
behaviour and support measures. The decrease of £0.3bn is
primarily driven by some normalisation of customer spending
behaviour during the year resulting in a partial release of the
PMA.
|
b.
|
A
vulnerable customer adjustment of £1.1bn (2020: £1.0bn)
has been applied to customers and clients considered potentially
vulnerable to the withdrawal of support schemes and emerging
economic instability against which lifetime coverage is applied.
This is split between credit cards, unsecured loans and other
retail lending of £0.8bn (2020: £0.8bn) and wholesale
loans of £0.3bn (2020: £0.2bn). The latter includes an
adjustment of £0.1bn (2020: £nil) to reflect possible
cross default risk on Barclays lending in respect of clients who
have taken bounce back loans.
|
1
|
Average Real
GDP seasonally adjusted change in year.
|
2
|
Average UK
unemployment rate 16-year+.
|
3
|
Change in
average yearly UK HPI = Halifax All Houses, All Buyers index,
relative to prior year end.
|
4
|
Average US
civilian unemployment rate 16-year+.
|
5
|
Change in
average yearly US HPI = FHFA House Price Index, relative to prior
year end.
|
Scenario probability weighting
|
|||||
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
|
%
|
%
|
%
|
%
|
%
|
As at 31 December 2021
|
|
|
|
|
|
Scenario probability weighting
|
20.9
|
27.2
|
30.1
|
14.8
|
7.0
|
As at 31 December 2020
|
|
|
|
|
|
Scenario probability weighting
|
20.2
|
24.2
|
24.7
|
15.5
|
15.4
|
1
|
UK GDP = Real
GDP growth seasonally adjusted; UK unemployment = UK unemployment
rate 16-year+; UK HI = Halifax All Houses, All Buyers Index; US GDP
= Real GDP growth seasonally adjusted; US unemployment = US
civilian unemployment rate 16-year+; US HPI = FHFA House Price
Index. 20 quarter period starts from Q121 (2020:
Q120).
|
2
|
Maximum growth
relative to Q420 (2020: Q419), based on 20 quarter period in Upside
scenarios; 5-year yearly average Compound Annual Growth Rate (CAGR)
in Baseline; minimum growth relative to Q420 (2020: Q419), based on
20 quarter period in Downside scenarios.
|
3
|
Lowest quarter
in 20 quarter period in Upside scenarios; 5-year average in
Baseline; highest quarter in 20 quarter period in Downside
scenarios.
|
4
|
Maximum growth
relative to Q420 (2020: Q419), based on 20 quarter period in Upside
scenarios; 5-year quarter end CAGR in Baseline; minimum growth
relative to Q420 (2020: Q419), based on 20 quarter period in
Downside scenarios.
|
Macroeconomic variables (5 year
averages)1
|
|
|
|
|
|
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
As at 31 December 2021
|
%
|
%
|
%
|
%
|
%
|
UK
GDP2
|
4.4
|
3.9
|
3.4
|
2.7
|
1.8
|
UK
unemployment3
|
4.3
|
4.4
|
4.5
|
5.8
|
7.0
|
UK
HPI4
|
6.3
|
4.4
|
2.4
|
0.3
|
(2.0)
|
UK bank
rate3
|
0.3
|
0.5
|
0.7
|
1.7
|
2.3
|
US
GDP2
|
4.4
|
3.9
|
3.4
|
2.4
|
1.3
|
US
unemployment3
|
3.9
|
4.0
|
4.1
|
5.7
|
7.1
|
US
HPI4
|
8.9
|
7.7
|
6.2
|
3.6
|
1.4
|
US
federal funds rate3
|
0.5
|
0.6
|
0.8
|
1.5
|
2.1
|
|
|
|
|
|
|
As at 31 December 2020
|
|
|
|
|
|
UK
GDP2
|
2.5
|
1.6
|
0.7
|
0.1
|
(0.9)
|
UK
unemployment3
|
5.0
|
5.3
|
5.7
|
6.5
|
7.2
|
UK
HPI4
|
8.2
|
5.5
|
3.6
|
(0.2)
|
(3.6)
|
UK bank
rate3
|
0.3
|
0.2
|
—
|
—
|
(0.1)
|
US
GDP2
|
2.9
|
2.4
|
1.6
|
0.8
|
0.1
|
US
unemployment3
|
5.3
|
5.7
|
6.4
|
8.3
|
10.4
|
US
HPI4
|
7.3
|
5.5
|
3.8
|
0.8
|
(3.0)
|
US
federal funds rate3
|
0.5
|
0.5
|
0.3
|
0.3
|
0.3
|
1
|
UK GDP = Real
GDP growth seasonally adjusted; UK unemployment = UK unemployment
rate 16-year+; UK HPI = Halifax All Houses, All Buyers Index; US
GDP Real GDP growth seasonally adjusted; US unemployment = US
civilian unemployment rate 16-year+; US HPI = FHFA House Price
Index.
|
2
|
5-year yearly
average CAGR, starting 2020 (2020: 2019).
|
3
|
5-year average.
Period based on 20 quarters from Q121 (2020:
Q120).
|
4
|
5-year quarter
end CAGR, starting Q420 (2020: Q419).
|
Home loans principal portfolios
|
Barclays UK
|
|
|
As at
31.12.21
|
As at
31.12.20
|
Gross loans and advances (£m)
|
158,192
|
148,343
|
90 day arrears rate, excluding recovery book (%)
|
0.1
|
0.2
|
Annualised gross charge-off rates - 180 days past due
(%)
|
0.5
|
0.6
|
Recovery book proportion of outstanding balances (%)
|
0.6
|
0.6
|
Recovery book impairment coverage ratio (%)
|
4.2
|
3.2
|
|
|
|
Average marked to market LTV
|
|
|
Balance weighted %
|
50.7
|
50.7
|
Valuation weighted %
|
37.5
|
37.6
|
|
|
|
New lending
|
Year ended
31.12.21
|
Year ended
31.12.20
|
New home loan bookings (£m)
|
33,945
|
22,776
|
New home loan proportion > 90% LTV (%)
|
1.9
|
2.6
|
Average LTV on new home loans: balance weighted (%)
|
69.5
|
67.5
|
Average LTV on new home loans: valuation weighted (%)
|
61.9
|
59.6
|
1
|
Portfolio
marked to market based on the most updated valuation including
recovery book balances. Updated valuations reflect the application
of the latest HPI available as at 31 December
2021.
|
Principal portfolios
|
Gross exposure
|
30 day arrears rate, excluding recovery book
|
90 day arrears rate, excluding recovery book
|
Annualised gross write-off rate
|
Annualised net write-off rate
|
As at 31.12.21
|
£m
|
%
|
%
|
%
|
%
|
Barclays UK
|
|
|
|
|
|
UK cards
|
9,933
|
1.0
|
0.2
|
4.1
|
4.0
|
UK personal loans
|
4,011
|
1.5
|
0.7
|
3.5
|
3.2
|
Barclays
Partner Finance
|
2,471
|
0.4
|
0.2
|
1.4
|
1.4
|
Barclays International
|
|
|
|
|
|
US cards
|
17,779
|
1.6
|
0.8
|
4.3
|
4.2
|
Germany consumer lending
|
3,559
|
1.5
|
0.7
|
0.9
|
0.8
|
|
|
|
|
|
|
As at 31.12.20
|
|
|
|
|
|
Barclays UK
|
|
|
|
|
|
UK cards
|
11,911
|
1.7
|
0.8
|
2.9
|
2.9
|
UK personal loans
|
4,591
|
2.3
|
1.2
|
3.4
|
3.1
|
Barclays Partner Finance
|
2,469
|
0.5
|
0.3
|
1.1
|
1.1
|
Barclays International
|
|
|
|
|
|
US cards
|
16,845
|
2.5
|
1.4
|
5.6
|
5.6
|
Germany consumer lending
|
3,458
|
1.9
|
0.8
|
1.2
|
1.1
|
1
|
Diversification
effects recognise that forecast losses from different assets or
businesses are unlikely to occur concurrently, hence the expected
aggregate loss is lower than the sum of the expected losses from
each area. Historical correlations between losses are taken into
account in making these assessments. The high and low VaR figures
reported for each category did not necessarily occur on the same
day as the high and low VaR reported as a whole. Consequently, a
diversification effect balance for the high and low VaR figures
would not be meaningful and is therefore omitted from the above
table.
|
Liquidity coverage ratio
|
|
|
|
As at 31.12.21
|
As at 31.12.20
|
|
£bn
|
£bn
|
Eligible liquidity buffer
|
285
|
258
|
Net stress outflows
|
(169)
|
(159)
|
Surplus
|
116
|
99
|
|
|
|
Liquidity coverage ratio
|
168%
|
162%
|
Composition of the Group liquidity pool
|
|||||
|
As at 31.12.21
|
As at 31.12.20
|
|||
|
Liquidity pool
|
Liquidity pool of which CRD IV LCR
eligible3
|
Liquidity pool
|
||
|
Cash
|
Level 1
|
Level 2A
|
||
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Cash and deposits with central banks1
|
245
|
243
|
—
|
—
|
197
|
|
|
|
|
|
|
Government bonds2
|
|
|
|
|
|
AAA to AA-
|
26
|
—
|
23
|
—
|
31
|
A+ to A-
|
2
|
—
|
—
|
2
|
13
|
BBB+ to BBB-
|
—
|
—
|
—
|
—
|
1
|
Total government bonds
|
28
|
—
|
23
|
2
|
45
|
|
|
|
|
|
|
Other
|
|
|
|
|
|
Government Guaranteed Issuers, PSEs and GSEs
|
6
|
—
|
5
|
1
|
10
|
International Organisations and MDBs
|
5
|
—
|
5
|
—
|
6
|
Covered bonds
|
6
|
—
|
4
|
2
|
8
|
Other
|
1
|
—
|
—
|
—
|
—
|
Total other
|
18
|
—
|
14
|
3
|
24
|
|
|
|
|
|
|
Total as at 31 December 2021
|
291
|
243
|
37
|
5
|
266
|
Total as at 31 December 2020
|
266
|
192
|
55
|
11
|
|
1
|
Includes cash
held at central banks and surplus cash at central banks related to
payment schemes. Over 99% (December 2020: over 98%) was placed with
the Bank of England, US Federal Reserve, European Central Bank,
Bank of Japan and Swiss National Bank.
|
2
|
Of which over
82% (December 2020: over 78%) comprised UK, US, French, German,
Japanese, Swiss and Dutch securities.
|
3
|
The LCR
eligible liquidity pool is adjusted for trapped liquidity and other
regulatory deductions. It also incorporates other CRR (as amended
by CRR II) qualifying assets that are not eligible under
Barclays’ internal risk appetite.
|
1
|
The loan:
deposit ratio is calculated as loans and advances at amortised cost
divided by deposits at amortised cost.
|
1
|
The composition
of wholesale funds comprises the balance sheet reported financial
liabilities at fair value, debt securities in issue and
subordinated liabilities. It does not include participation in the
central bank facilities reported within repurchase agreements and
other similar secured borrowing.
|
2
|
Term funding
comprises public benchmark and privately placed senior unsecured
notes, covered bonds, asset-backed securities and subordinated debt
where the original maturity of the instrument is more than 1
year.
|
3
|
Includes
structured notes of £50.1bn, of which £10.9bn matures
within one year.
|
Capital ratios1,2,3
|
As at
31.12.21
|
As at
30.09.21
|
As at
31.12.20
|
CET1
|
15.1%
|
15.4%
|
15.1%
|
Tier 1 (T1)
|
19.2%
|
19.6%
|
19.0%
|
Total regulatory capital
|
22.3%
|
22.9%
|
22.1%
|
|
|
|
|
Capital resources
|
£m
|
£m
|
£m
|
Total equity excluding non-controlling interests per the balance
sheet
|
69,222
|
68,697
|
65,797
|
Less: other equity instruments (recognised as AT1
capital)
|
(12,259)
|
(12,252)
|
(11,172)
|
Adjustment to retained earnings for foreseeable ordinary share
dividends
|
(666)
|
(419)
|
(174)
|
Adjustment to retained earnings for foreseeable repurchase of
shares
|
—
|
(221)
|
—
|
Adjustment to retained earnings for foreseeable other equity
coupons
|
(32)
|
(51)
|
(30)
|
|
|
|
|
Other regulatory adjustments and deductions
|
|
|
|
Additional value adjustments (PVA)
|
(1,585)
|
(1,427)
|
(1,146)
|
Goodwill and intangible assets
|
(6,804)
|
(6,850)
|
(6,914)
|
Deferred tax assets that rely on future profitability excluding
temporary differences
|
(1,028)
|
(662)
|
(595)
|
Fair value reserves related to gains or losses on cash flow
hedges
|
852
|
46
|
(1,575)
|
Gains or losses on liabilities at fair value resulting from own
credit
|
892
|
940
|
870
|
Defined benefit pension fund assets
|
(2,619)
|
(1,925)
|
(1,326)
|
Direct and indirect holdings by an institution of own CET1
instruments
|
(50)
|
(50)
|
(50)
|
Adjustment under IFRS 9 transitional arrangements
|
1,229
|
1,332
|
2,556
|
Other regulatory adjustments
|
345
|
144
|
55
|
CET1 capital
|
47,497
|
47,302
|
46,296
|
|
|
|
|
AT1 capital
|
|
|
|
Capital instruments and related share premium accounts
|
12,259
|
12,252
|
11,172
|
Qualifying AT1 capital (including minority interests) issued by
subsidiaries
|
637
|
636
|
646
|
Other regulatory adjustments and deductions
|
(80)
|
(80)
|
(80)
|
AT1 capital
|
12,816
|
12,808
|
11,738
|
|
|
|
|
T1 capital
|
60,313
|
60,110
|
58,034
|
|
|
|
|
T2 capital
|
|
|
|
Capital instruments and related share premium accounts
|
8,713
|
8,927
|
7,836
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries
|
1,113
|
1,306
|
1,893
|
Credit risk adjustments (excess of impairment over expected
losses)
|
73
|
98
|
57
|
Other regulatory adjustments and deductions
|
(160)
|
(160)
|
(160)
|
Total regulatory capital
|
70,052
|
70,281
|
67,660
|
|
|
|
|
Total RWAs
|
314,136
|
307,464
|
306,203
|
1
|
CET1, T1 and T2
capital, and RWAs are calculated applying the transitional
arrangements of the CRR as amended by CRR II. This includes IFRS 9
transitional arrangements and the grandfathering of CRR 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 14.7%, with
£46.3bn of CET1 capital and £313.9bn of RWAs calculated
without applying the transitional arrangements of the CRR as
amended by CRR II.
|
3
|
The
Group’s CET1 ratio, as is relevant for assessing against the
conversion trigger in Barclays Bank PLC 7.625% Contingent Capital
Notes, was 15.1%. For this calculation CET1 capital and RWAs are
calculated applying the transitional arrangements under the CRR as
amended by CRR II, 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 ended
31.12.21
|
Twelve months ended
31.12.21
|
|
£m
|
£m
|
Opening CET1 capital
|
47,302
|
46,296
|
|
|
|
Profit for the period attributable to equity holders
|
1,335
|
7,179
|
Own credit relating to derivative liabilities
|
(6)
|
16
|
Ordinary share dividends paid and foreseen
|
(247)
|
(1,004)
|
Purchased and foreseeable share repurchase
|
—
|
(1,200)
|
Other equity coupons paid and foreseen
|
(199)
|
(806)
|
Increase in retained regulatory capital generated from
earnings
|
883
|
4,185
|
|
|
|
Net impact of share schemes
|
60
|
187
|
Fair value through other comprehensive income reserve
|
(120)
|
(288)
|
Currency translation reserve
|
(68)
|
(131)
|
Other reserves
|
5
|
(2)
|
Decrease in other qualifying reserves
|
(123)
|
(234)
|
|
|
|
Pension remeasurements within reserves
|
717
|
643
|
Defined benefit pension fund asset deduction
|
(694)
|
(1,293)
|
Net impact of pensions
|
23
|
(650)
|
|
|
|
Additional value adjustments (PVA)
|
(158)
|
(439)
|
Goodwill and intangible assets
|
46
|
110
|
Deferred tax assets that rely on future profitability excluding
those arising from temporary differences
|
(366)
|
(433)
|
Adjustment under IFRS 9 transitional arrangements
|
(103)
|
(1,327)
|
Other regulatory adjustments
|
(7)
|
(11)
|
Decrease in regulatory capital due to adjustments and
deductions
|
(588)
|
(2,100)
|
|
|
|
Closing CET1 capital
|
47,497
|
47,497
|
●
|
£1bn
of dividends paid and foreseen for ordinary shares, which includes
£0.3bn half year dividend and a £0.7bn accrual towards
the 2021 full year dividend
|
●
|
£1.2bn
for share buybacks made up of £0.7bn for the share buyback
announced with FY20 results and £0.5bn for the share buyback
announced with H121 results; and
|
●
|
£0.8bn
of equity coupons paid
|
●
|
A
£1.3bn decrease in IFRS 9 transitional relief, after tax,
primarily due to credit impairment releases, impairment migrations
from Stage 2 to Stage 3 and a decrease to the amount of relief
applied to the pre-2020 impairment charge reducing to 50% in 2021
from 70% in 2020
|
●
|
A
£0.7bn decrease as a result of movements relating to pensions,
largely due to deficit contribution payments of £0.35bn in
April 2021 and September 2021
|
●
|
A
£0.4bn increase in the PVA deduction due to the reversal of
temporary COVID-19 relief measures which increased diversification
factors applied to certain additional valuation adjustments during
2020
|
Movement analysis of RWAs
|
|||||
|
Credit risk
|
Counterparty credit risk
|
Market risk
|
Operational risk
|
Total RWAs
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Opening RWAs (as at 31.12.20)
|
193,969
|
35,707
|
35,629
|
40,898
|
306,203
|
Book size
|
(1,106)
|
1,838
|
1,295
|
849
|
2,876
|
Acquisitions and disposals
|
(1,095)
|
—
|
—
|
—
|
(1,095)
|
Book quality
|
175
|
(102)
|
—
|
—
|
73
|
Model updates
|
(950)
|
(186)
|
6,927
|
—
|
5,791
|
Methodology and policy
|
(345)
|
416
|
920
|
—
|
991
|
Foreign
exchange movements1
|
(703)
|
—
|
—
|
—
|
(703)
|
Total RWA movements
|
(4,024)
|
1,966
|
9,142
|
849
|
7,933
|
Closing RWAs (as at 31.12.21)
|
189,945
|
37,673
|
44,771
|
41,747
|
314,136
|
1
|
Foreign
exchange movements does not include foreign exchange for
counterparty credit risk, market risk or operational
risk.
|
●
|
A
£1.1bn decrease in book size mainly driven by lower lending,
partially offset by growth in mortgages within Barclays
UK
|
●
|
A
£1.1bn decrease in acquisitions and disposals mainly driven by
disposal of wholesale loans during the year
|
●
|
A
£1.0bn decrease in model updates primarily due to modelled
risk weight recalibrations
|
●
|
A
£1.8bn increase in book size primarily due to an increase in
client and trading activities within SFTs, partially offset by a
reduction in derivatives
|
●
|
A
£1.3bn increase in book size primarily due to an increase in
client and trading activities
|
●
|
A
£6.9bn increase in model updates driven by an increase in
Stressed Value at Risk (SVaR) due to a model adjustment to reflect
market movements during the COVID-19 stressed period following
recalibration of the period, which was delayed until 2021 as a
result of COVID-19 relief measures afforded by the PRA
|
●
|
A
£0.9bn increase in methodology and policy driven by the
application of Pillar 1 Structural FX charge, partially offset by a
change in the historical lookback period of the VaR model from two
years to one year
|
Leverage ratios1,2
|
As at 31.12.21
|
As at 30.09.21
|
As at 31.12.20
|
£m
|
£m
|
£m
|
|
Average UK leverage ratio
|
4.9%
|
4.9%
|
5.0%
|
Average
T1 capital3
|
59,796
|
58,580
|
57,069
|
Average UK leverage exposure
|
1,227,134
|
1,199,774
|
1,146,919
|
|
|
|
|
UK leverage ratio
|
5.3%
|
5.1%
|
5.3%
|
|
|
|
|
CET1 capital
|
47,497
|
47,302
|
46,296
|
AT1 capital
|
12,179
|
12,172
|
11,092
|
T1 capital3
|
59,676
|
59,474
|
57,388
|
|
|
|
|
UK leverage exposure
|
1,135,997
|
1,160,983
|
1,090,907
|
|
|
|
|
UK leverage exposure
|
|
|
|
Accounting assets
|
|
|
|
Derivative financial instruments
|
262,572
|
258,093
|
302,446
|
Derivative cash collateral
|
58,177
|
54,166
|
64,798
|
Securities financing transactions
|
170,853
|
190,927
|
164,034
|
Loans and advances and other assets
|
892,683
|
903,327
|
818,236
|
Total IFRS assets
|
1,384,285
|
1,406,513
|
1,349,514
|
|
|
|
|
Regulatory consolidation adjustments
|
(3,665)
|
(2,192)
|
(1,144)
|
|
|
|
|
Derivatives adjustments
|
|
|
|
Derivatives netting
|
(236,881)
|
(231,559)
|
(272,275)
|
Adjustments to collateral
|
(50,929)
|
(47,490)
|
(57,414)
|
Net written credit protection
|
15,509
|
15,910
|
14,986
|
Potential future exposure on derivatives
|
137,291
|
143,517
|
117,010
|
Total derivatives adjustments
|
(135,010)
|
(119,622)
|
(197,693)
|
|
|
|
|
SFTs adjustments
|
24,544
|
24,579
|
21,114
|
|
|
|
|
Regulatory deductions and other adjustments
|
(20,219)
|
(19,454)
|
(17,469)
|
|
|
|
|
Weighted off-balance sheet commitments
|
113,140
|
115,521
|
113,704
|
|
|
|
|
Qualifying central bank claims
|
(210,134)
|
(198,817)
|
(155,890)
|
|
|
|
|
Settlement netting
|
(16,944)
|
(45,545)
|
(21,229)
|
|
|
|
|
UK leverage exposure
|
1,135,997
|
1,160,983
|
1,090,907
|
1
|
Fully loaded
average UK leverage ratio was 4.8%, with £58.5bn of T1 capital
and £1,225.8bn of leverage exposure. Fully loaded UK leverage
ratio was 5.2%, with £58.4bn of T1 capital and £1,134.8bn
of leverage exposure. Fully loaded UK leverage ratios are
calculated without applying the transitional arrangements of the
CRR as amended by CRR II.
|
2
|
Capital and
leverage measures are calculated applying the transitional
arrangements of the CRR as amended by CRR II.
|
3
|
T1 capital is
calculated in line with the PRA Handbook.
|
1
|
CRR leverage
ratio as amended by CRR II.
|
MREL requirements including
buffers1,2
|
Requirement (£m):
|
|
Requirement (%):
|
||||
|
As at
31.12.2021
|
As at
30.09.2021
|
As at
31.12.2020
|
|
As at
31.12.2021
|
As at
30.09.2021
|
As at
31.12.2020
|
Requirement based on RWAs
|
77,302
|
76,174
|
75,918
|
|
24.6%
|
24.8%
|
24.8%
|
Requirement based on CRR leverage exposure (minimum
requirement)
|
93,861
|
94,438
|
87,529
|
|
6.9%
|
6.9%
|
7.0%
|
|
|
|
|
|
|
|
|
Own funds and eligible
liabilities1,2
|
|
|
|
|
£m
|
£m
|
£m
|
CET1 capital
|
|
|
|
|
47,497
|
47,302
|
46,296
|
AT1
capital instruments and related share premium accounts3
|
|
|
|
12,179
|
12,172
|
11,092
|
|
T2
capital instruments and related share premium accounts3
|
|
|
|
8,626
|
8,865
|
7,733
|
|
Eligible liabilities
|
|
|
|
|
39,889
|
38,787
|
35,086
|
Total Barclays PLC (the Parent company) own funds and eligible
liabilities
|
|
|
108,191
|
107,126
|
100,207
|
||
|
|
|
|
|
|
|
|
Total RWAs
|
|
|
|
|
314,136
|
307,464
|
306,203
|
Total CRR leverage exposure
|
|
|
|
|
1,354,284
|
1,368,259
|
1,254,157
|
|
|
|
|
|
|
|
|
Own funds and eligible liabilities ratios as a percentage
of:
|
|
|
As at
31.12.2021
|
As at
30.09.2021
|
As at
31.12.2020
|
||
Total RWAs
|
|
|
|
|
34.4%
|
34.8%
|
32.7%
|
Total CRR leverage exposure
|
|
|
|
|
8.0%
|
7.8%
|
8.0%
|
1
|
CET1, T1 and T2 capital, and RWAs are calculated applying the
transitional arrangements of the CRR as amended by CRR II. This
includes IFRS 9 transitional arrangements and the grandfathering of
CRR and CRR II non-compliant capital instruments.
|
2
|
As at 31 December 2021, Own funds and eligible liabilities
including instruments issued by subsidiaries was
£109.9bn.
|
3
|
Includes other AT1 capital regulatory adjustments and deductions of
£80m (December 2020: £80m), and other T2 credit risk
adjustments and deductions of £87m (December 2020:
£103m).
|
Impacts due to implementation of regulatory changes - indicative as
at 01.01.22
|
As at
31.12.21
|
Rebased as at
01.01.22
|
|||||
|
|
|
|
|
|
||
|
|
|
|
|
|
£bn
|
£bn
|
CET1 ratio
|
|
|
|
|
|
15.1%
|
14.3%
|
CET1
capital
|
|
|
|
|
47.5
|
45.8
|
|
Total
RWAs1,2
|
|
|
|
|
314.1
|
320.5
|
|
|
|
|
|
|
|
|
|
UK leverage ratio
|
|
|
|
|
|
5.3%
|
5.3%
|
T1 capital
|
|
|
|
|
|
59.7
|
58.0
|
UK leverage exposure
|
|
|
|
|
|
1,136.0
|
1,102.1
|
|
|
|
|
|
|
|
|
MREL
requirement based on UK leverage exposures3
|
|
|
|
|
87.3
|
||
MREL requirement based on RWAs (minimum requirement)3
|
|
|
|
93.6
|
|||
|
|
|
|
|
|
|
|
1
|
Includes
expected impact on CVA of roll out of SA-CCR across 60 day average
period.
|
2
|
IRB roadmap
impact based on latest available data by portfolio, majority is
based on 31 December 2021.
|
3
|
MREL
requirement for 31 December 2021 was £93.9bn based on CRR
leverage exposures which no longer apply for UK banks from 1
January 2022.
|
●
|
to the
best of their knowledge, the condensed consolidated financial
statements (set out on pages 58 to 62), which have been prepared in
accordance with (a) UK-adopted international accounting standards;
and (b) International Financial Reporting Standards (IFRS) as
issued by the International Accounting Standards Board (IASB),
including interpretations issued by the IFRS Interpretations
Committee, give a true and fair view of the assets, liabilities,
financial position and profit or loss of the Company and the
undertakings included in the consolidation taken as a whole. The
condensed consolidated financial statements should be read in
conjunction with the annual financial statements as included in the
Annual Report for the year ended 31 December 2021; and
|
●
|
to the
best of their knowledge, the management information (set out on
pages 1 to 56) includes a fair review of the development and
performance of the business and the position of the Company and the
undertakings included in the consolidation taken as a whole,
together with a description of the principal risks and
uncertainties that they face. This management information should be
read in conjunction with the principal risks and uncertainties
included in the Annual Report for the year ended 31 December
2021.
|
C. S. Venkatakrishnan
|
|
Tushar Morzaria
|
Group Chief Executive
|
|
Group Finance Director
|
Chairman
|
Executive Directors
|
Non-Executive Directors
|
Nigel Higgins
|
C. S. Venkatakrishnan
Tushar Morzaria
|
Mike Ashley
Robert Berry
Tim Breedon CBE
Mohamed A. El-Erian
Dawn Fitzpatrick
Mary Francis CBE
Crawford Gillies
Brian Gilvary
Diane Schueneman
Julia Wilson
|
Condensed consolidated income statement
|
|||
|
|
Year ended
31.12.21
|
Year ended
31.12.20
|
|
Notes1
|
£m
|
£m
|
Interest and similar income
|
|
11,240
|
11,892
|
Interest and similar expense
|
|
(3,167)
|
(3,770)
|
Net interest income
|
|
8,073
|
8,122
|
Fee and commission income
|
|
9,880
|
8,641
|
Fee and commission expense
|
|
(2,206)
|
(2,070)
|
Net fee and commission income
|
|
7,674
|
6,571
|
Net trading income
|
|
5,794
|
7,029
|
Net investment income
|
|
311
|
13
|
Other income
|
|
88
|
31
|
Total income
|
|
21,940
|
21,766
|
Credit impairment releases/(charges)
|
|
653
|
(4,838)
|
Net operating income
|
|
22,593
|
16,928
|
|
|
|
|
Staff costs
|
|
(8,511)
|
(8,097)
|
Infrastructure, administration and general expenses
|
|
(5,751)
|
(5,636)
|
Litigation and conduct
|
|
(177)
|
(153)
|
Operating expenses
|
|
(14,439)
|
(13,886)
|
|
|
|
|
Share of post-tax results of associates and joint
ventures
|
|
260
|
6
|
Profit on disposal of subsidiaries, associates and joint
ventures
|
|
—
|
17
|
Profit before tax
|
|
8,414
|
3,065
|
Tax charge
|
1
|
(1,188)
|
(604)
|
Profit after tax
|
|
7,226
|
2,461
|
|
|
|
|
Attributable to:
|
|
|
|
Equity holders of the parent
|
|
6,375
|
1,526
|
Other equity instrument holders
|
|
804
|
857
|
Total equity holders of the parent
|
|
7,179
|
2,383
|
Non-controlling interests
|
2
|
47
|
78
|
Profit after tax
|
|
7,226
|
2,461
|
|
|
|
|
Earnings per share
|
|
p
|
p
|
Basic earnings per ordinary share
|
3
|
37.5
|
8.8
|
Diluted earnings per ordinary share
|
3
|
36.6
|
8.6
|
1
|
For notes to
the Financial Statements see pages 63 to 68.
|
1
|
For notes to
the Financial Statements see pages 63 to 68.
|
2
|
Reported net of
tax.
|
Condensed consolidated balance sheet
|
|||
|
|
As at 31.12.21
|
As at 31.12.20
|
Assets
|
Notes1
|
£m
|
£m
|
Cash and balances at central banks
|
|
238,574
|
191,127
|
Cash collateral and settlement balances
|
|
92,542
|
101,367
|
Loans and advances at amortised cost
|
|
361,451
|
342,632
|
Reverse repurchase agreements and other similar secured
lending
|
|
3,227
|
9,031
|
Trading portfolio assets
|
|
147,035
|
127,950
|
Financial assets at fair value through the income
statement
|
|
191,972
|
175,151
|
Derivative financial instruments
|
|
262,572
|
302,446
|
Financial assets at fair value through other comprehensive
income
|
|
61,753
|
78,688
|
Investments in associates and joint ventures
|
|
999
|
781
|
Goodwill and intangible assets
|
|
8,061
|
7,948
|
Property, plant and equipment
|
|
3,555
|
4,036
|
Current tax assets
|
|
261
|
477
|
Deferred tax assets
|
1
|
4,619
|
3,444
|
Retirement benefit assets
|
8
|
3,879
|
1,814
|
Other assets
|
|
3,785
|
2,622
|
Total assets
|
|
1,384,285
|
1,349,514
|
|
|
|
|
Liabilities
|
|
|
|
Deposits at amortised cost
|
|
519,433
|
481,036
|
Cash collateral and settlement balances
|
|
79,371
|
85,423
|
Repurchase agreements and other similar secured
borrowing
|
|
28,352
|
14,174
|
Debt securities in issue
|
|
98,867
|
75,796
|
Subordinated Liabilities
|
|
12,759
|
16,341
|
Trading portfolio liabilities
|
|
54,169
|
47,405
|
Financial liabilities designated at fair value
|
|
250,960
|
249,765
|
Derivative financial instruments
|
|
256,883
|
300,775
|
Current tax liabilities
|
|
739
|
645
|
Deferred tax liabilities
|
1
|
37
|
15
|
Retirement benefit liabilities
|
8
|
311
|
291
|
Other liabilities
|
|
10,505
|
8,662
|
Provisions
|
7
|
1,688
|
2,304
|
Total liabilities
|
|
1,314,074
|
1,282,632
|
|
|
|
|
Equity
|
|
|
|
Called up share capital and share premium
|
9
|
4,536
|
4,637
|
Other reserves
|
11
|
1,770
|
4,461
|
Retained earnings
|
|
50,657
|
45,527
|
Shareholders' equity attributable to ordinary shareholders of the
parent
|
|
56,963
|
54,625
|
Other equity instruments
|
10
|
12,259
|
11,172
|
Total equity excluding non-controlling interests
|
|
69,222
|
65,797
|
Non-controlling interests
|
2
|
989
|
1,085
|
Total equity
|
|
70,211
|
66,882
|
|
|
|
|
Total liabilities and equity
|
|
1,384,285
|
1,349,514
|
1
|
For notes to the Financial Statements see pages 63 to
68.
|
Condensed consolidated cash flow statement
|
|
|
|
Year ended
31.12.21
|
Year ended
31.12.20
|
|
£m
|
£m
|
Profit before tax
|
8,414
|
3,065
|
Adjustment for non-cash items
|
4,803
|
5,007
|
Net increase in loans and advances at amortised cost
|
(10,728)
|
(4,365)
|
Net increase in deposits at amortised cost
|
38,397
|
65,249
|
Net increase/(decrease) in debt securities in issue
|
18,131
|
(6,309)
|
Changes in other operating assets and liabilities
|
(8,763)
|
(4,459)
|
Corporate income tax paid
|
(1,335)
|
(683)
|
Net cash from operating activities
|
48,919
|
57,505
|
Net cash from investing activities
|
4,270
|
(18,376)
|
Net cash from financing activities
|
107
|
2,732
|
Effect of exchange rates on cash and cash equivalents
|
(4,232)
|
1,668
|
Net increase/(decrease) in cash and cash equivalents
|
49,064
|
43,529
|
Cash and cash equivalents at beginning of the period
|
210,142
|
166,613
|
Cash and cash equivalents at end of the period
|
259,206
|
210,142
|
|
As at 31.12.21
|
As at 31.12.20
|
Deferred tax assets and liabilities
|
£m
|
£m
|
UK
|
2,183
|
886
|
USA
|
2,006
|
2,049
|
Other territories
|
430
|
509
|
Deferred tax assets
|
4,619
|
3,444
|
Deferred tax liabilities
|
(37)
|
(15)
|
|
|
|
Analysis of deferred tax assets
|
|
|
Temporary differences
|
3,399
|
2,709
|
Tax losses
|
1,220
|
735
|
Deferred tax assets
|
4,619
|
3,444
|
|
Profit attributable to
non-controlling interests
|
|
Equity attributable to
non-controlling interests
|
||
|
Year ended
31.12.21
|
Year ended
31.12.20
|
|
As at 3
1.12.21
|
As at 3
1.12.20
|
|
£m
|
£m
|
|
£m
|
£m
|
Barclays Bank PLC issued:
|
|
|
|
|
|
- Preference shares
|
27
|
42
|
|
529
|
529
|
- Upper T2 instruments
|
17
|
37
|
|
458
|
533
|
Other non-controlling interests
|
3
|
(1)
|
|
2
|
23
|
Total
|
47
|
78
|
|
989
|
1,085
|
|
Year ended
31.12.21
|
Year ended
31.12.20
|
|
£m
|
£m
|
Profit attributable to ordinary equity holders of the
parent
|
6,375
|
1,526
|
|
|
|
|
m
|
m
|
Basic weighted average number of shares in issue
|
16,985
|
17,300
|
Number of potential ordinary shares
|
435
|
368
|
Diluted weighted average number of shares
|
17,420
|
17,668
|
|
|
|
|
p
|
p
|
Basic earnings per ordinary share
|
37.5
|
8.8
|
Diluted earnings per ordinary share
|
36.6
|
8.6
|
|
|
Year ended 31.12.21
|
Year ended 31.12.20
|
||
|
Per share
|
Total
|
Per share
|
Total
|
Dividends paid during the period
|
p
|
£m
|
p
|
£m
|
Full year dividend paid during period
|
1.0
|
173
|
—
|
—
|
Half year dividend paid during period
|
2.0
|
339
|
—
|
—
|
Total dividend
|
3.0
|
512
|
—
|
—
|
|
Valuation technique using
|
|
||
|
Quoted market prices
|
Observable inputs
|
Significant unobservable inputs
|
|
|
(Level 1)
|
(Level 2)
|
(Level 3)
|
Total
|
As at 31.12.21
|
£m
|
£m
|
£m
|
£m
|
Trading portfolio assets
|
80,926
|
63,828
|
2,281
|
147,035
|
Financial assets at fair value through the income
statement
|
5,093
|
177,167
|
9,712
|
191,972
|
Derivative financial instruments
|
6,150
|
252,412
|
4,010
|
262,572
|
Financial assets at fair value through other comprehensive
income
|
22,009
|
39,706
|
38
|
61,753
|
Investment property
|
—
|
—
|
7
|
7
|
Total assets
|
114,178
|
533,113
|
16,048
|
663,339
|
|
|
|
|
|
Trading portfolio liabilities
|
(27,529)
|
(26,613)
|
(27)
|
(54,169)
|
Financial liabilities designated at fair value
|
(174)
|
(250,376)
|
(410)
|
(250,960)
|
Derivative financial instruments
|
(6,571)
|
(244,253)
|
(6,059)
|
(256,883)
|
Total liabilities
|
(34,274)
|
(521,242)
|
(6,496)
|
(562,012)
|
|
|
|
|
|
As at 31.12.20
|
|
|
|
|
Trading portfolio assets
|
60,671
|
65,416
|
1,863
|
127,950
|
Financial assets at fair value through the income
statement
|
4,503
|
162,142
|
8,506
|
175,151
|
Derivative financial instruments
|
9,155
|
288,822
|
4,469
|
302,446
|
Financial assets at fair value through other comprehensive
income
|
19,792
|
58,743
|
153
|
78,688
|
Investment property
|
—
|
—
|
10
|
10
|
Total assets
|
94,121
|
575,123
|
15,001
|
684,245
|
|
|
|
|
|
Trading portfolio liabilities
|
(24,391)
|
(22,986)
|
(28)
|
(47,405)
|
Financial liabilities designated at fair value
|
(159)
|
(249,251)
|
(355)
|
(249,765)
|
Derivative financial instruments
|
(8,762)
|
(285,774)
|
(6,239)
|
(300,775)
|
Total liabilities
|
(33,312)
|
(558,011)
|
(6,622)
|
(597,945)
|
|
Year ended
31.12.21
|
Year ended
31.12.20
|
|
£m
|
£m
|
Opening balance as at 1 January
|
16,341
|
18,156
|
Issuances
|
1,890
|
1,438
|
Redemptions
|
(4,807)
|
(3,464)
|
Other
|
(665)
|
211
|
Closing balance
|
12,579
|
16,341
|
|
As at
31.12.21
|
As at
31.12.20
|
|
£m
|
£m
|
Customer redress
|
310
|
497
|
Legal, competition and regulatory matters
|
226
|
268
|
Redundancy and restructuring
|
326
|
158
|
Undrawn
contractually committed facilities and guarantees1
|
542
|
1,064
|
Onerous contracts
|
5
|
28
|
Sundry provisions
|
279
|
289
|
Total
|
1,688
|
2,304
|
1
|
Undrawn
contractually committed facilities and guarantees provisions are
accounted for under IFRS 9.
|
|
Ordinary share capital
|
Share premium
|
Total share capital and share premium
|
Year ended 31.12.21
|
£m
|
£m
|
£m
|
Opening balance as at 1 January
|
4,340
|
297
|
4,637
|
Issue of shares under employee share schemes
|
9
|
51
|
60
|
Repurchase of shares
|
(161)
|
—
|
(161)
|
Closing balance
|
4,188
|
348
|
4,536
|
|
Year ended
31.12.21
|
Year ended
31.12.20
|
|
£m
|
£m
|
Opening balance as at 1 January
|
11,172
|
10,871
|
Issuances
|
1,078
|
1,142
|
Redemptions
|
—
|
(831)
|
Securities held by the Group
|
9
|
(10)
|
Closing balance
|
12,259
|
11,172
|
|
As at 31.12.21
|
As at 31.12.20
|
|
£m
|
£m
|
Currency translation reserve
|
2,740
|
2,871
|
Fair value through other comprehensive income reserve
|
(283)
|
5
|
Cash flow hedging reserve
|
(853)
|
1,575
|
Own credit reserve
|
(960)
|
(954)
|
Other reserves and treasury shares
|
1,126
|
964
|
Total
|
1,770
|
4,461
|
Measure
|
Definition
|
Loan: deposit ratio
|
Loans
and advances at amortised cost divided by deposits at amortised
cost. The components of the calculation have been included on page
46.
|
Period end allocated tangible equity
|
Allocated
tangible equity is calculated as 13.5% (2020: 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
|
Statutory
profit after tax attributable to ordinary equity holders of the
parent, as a proportion of average shareholders’ equity
excluding non-controlling interests and other equity instruments
adjusted for the deduction of intangible assets and goodwill. The
components of the calculation have been included on pages 70 to
72.
|
Return on average allocated tangible equity
|
Statutory
profit after tax attributable to ordinary equity holders of the
parent, as a proportion of average allocated tangible equity. The
components of the calculation have been included on pages 70 to
73.
|
Cost: income ratio
|
Total
operating expenses divided by total income.
|
Loan loss rate
|
Quoted
in basis points and represents total 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 29. Quoted as zero when credit impairment is a net
release.
|
Net interest margin
|
Net
interest income divided by the sum of average customer assets. The
components of the calculation have been included on pages 24 to
25.
|
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
74.
|
|
Profit/(loss) attributable to ordinary equity holders of the
parent
|
|
Average tangible equity
|
|
Return on average tangible equity
|
For the year ended 31.12.21
|
£m
|
|
£bn
|
|
%
|
Barclays UK
|
1,756
|
|
10.0
|
|
17.6
|
Corporate and Investment Bank
|
4,202
|
|
28.3
|
|
14.9
|
Consumer, Cards and Payments
|
615
|
|
4.1
|
|
15.0
|
Barclays International
|
4,817
|
|
32.4
|
|
14.9
|
Head Office
|
(198)
|
|
5.0
|
|
n/m
|
Barclays Group
|
6,375
|
|
47.4
|
|
13.4
|
|
|
|
|
|
|
For the year ended 31.12.20
|
|
|
|
|
|
Barclays UK
|
325
|
|
10.1
|
|
3.2
|
Corporate and Investment Bank
|
2,554
|
|
27.0
|
|
9.5
|
Consumer, Cards and Payments
|
(334)
|
|
4.5
|
|
(7.5)
|
Barclays International
|
2,220
|
|
31.5
|
|
7.1
|
Head Office
|
(1,019)
|
|
6.7
|
|
n/m
|
Barclays Group
|
1,526
|
|
48.3
|
|
3.2
|
|
Year ended 31.12.21
|
|||||
|
Barclays UK
|
Corporate and Investment Bank
|
Consumer, Cards and Payments
|
Barclays International
|
Head Office
|
Barclays Group
|
Return on average tangible shareholders' equity
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Attributable profit/(loss)
|
1,756
|
4,202
|
615
|
4,817
|
(198)
|
6,375
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Average shareholders' equity
|
13.6
|
28.3
|
4.8
|
33.1
|
8.7
|
55.4
|
Average goodwill and intangibles
|
(3.6)
|
—
|
(0.7)
|
(0.7)
|
(3.7)
|
(8.0)
|
Average tangible shareholders' equity
|
10.0
|
28.3
|
4.1
|
32.4
|
5.0
|
47.4
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
17.6%
|
14.9%
|
15.0%
|
14.9%
|
n/m
|
13.4%
|
|
Year ended 31.12.20
|
|||||
|
Barclays UK
|
Corporate and Investment Bank
|
Consumer, Cards and Payments
|
Barclays International
|
Head Office
|
Barclays Group
|
Return on average tangible shareholders' equity
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Attributable profit/(loss)
|
325
|
2,554
|
(334)
|
2,220
|
(1,019)
|
1,526
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Average shareholders' equity
|
13.7
|
27.0
|
5.1
|
32.1
|
10.6
|
56.4
|
Average goodwill and intangibles
|
(3.6)
|
—
|
(0.6)
|
(0.6)
|
(3.9)
|
(8.1)
|
Average tangible shareholders' equity
|
10.1
|
27.0
|
4.5
|
31.5
|
6.7
|
48.3
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
3.2%
|
9.5%
|
(7.5)%
|
7.1%
|
n/m
|
3.2%
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
Q421
|
Q321
|
Q221
|
Q121
|
|
Q420
|
Q320
|
Q220
|
Q120
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Attributable profit
|
1,117
|
1,446
|
2,108
|
1,704
|
|
220
|
611
|
90
|
605
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average shareholders' equity
|
56.3
|
56.6
|
54.4
|
54.4
|
|
55.7
|
56.4
|
58.4
|
55.2
|
Average goodwill and intangibles
|
(8.1)
|
(8.2)
|
(7.9)
|
(7.9)
|
|
(8.1)
|
(8.1)
|
(8.2)
|
(8.2)
|
Average tangible shareholders' equity
|
48.2
|
48.4
|
46.5
|
46.5
|
|
47.6
|
48.3
|
50.2
|
47.0
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
9.3%
|
11.9%
|
18.1%
|
14.7%
|
|
1.8%
|
5.1%
|
0.7%
|
5.1%
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
Q421
|
Q321
|
Q221
|
Q121
|
|
Q420
|
Q320
|
Q220
|
Q120
|
Return on average allocated tangible equity
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Attributable profit/(loss)
|
420
|
317
|
721
|
298
|
|
160
|
113
|
(123)
|
175
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
13.6
|
13.6
|
13.5
|
13.5
|
|
13.4
|
13.7
|
13.9
|
13.7
|
Average goodwill and intangibles
|
(3.6)
|
(3.6)
|
(3.6)
|
(3.6)
|
|
(3.6)
|
(3.6)
|
(3.6)
|
(3.6)
|
Average allocated tangible equity
|
10.0
|
10.0
|
9.9
|
9.9
|
|
9.8
|
10.1
|
10.3
|
10.1
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
16.8%
|
12.7%
|
29.1%
|
12.0%
|
|
6.5%
|
4.5%
|
(4.8)%
|
6.9%
|
Barclays International
|
|
|
|
|
|
|
|
|
|
|
Q421
|
Q321
|
Q221
|
Q121
|
|
Q420
|
Q320
|
Q220
|
Q120
|
Return on average allocated tangible equity
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Attributable profit
|
856
|
1,263
|
1,267
|
1,431
|
|
441
|
782
|
468
|
529
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
33.8
|
32.7
|
33.0
|
32.8
|
|
31.1
|
31.2
|
34.2
|
31.9
|
Average goodwill and intangibles
|
(0.9)
|
(0.9)
|
(0.6)
|
(0.5)
|
|
(0.6)
|
(0.6)
|
(0.7)
|
(0.7)
|
Average allocated tangible equity
|
32.9
|
31.8
|
32.4
|
32.3
|
|
30.5
|
30.6
|
33.5
|
31.2
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
10.4%
|
15.9%
|
15.6%
|
17.7%
|
|
5.8%
|
10.2%
|
5.6%
|
6.8%
|
Corporate and Investment Bank
|
|
|
|
|
|||||
|
Q421
|
Q321
|
Q221
|
Q121
|
|
Q420
|
Q320
|
Q220
|
Q120
|
Return on average allocated tangible equity
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Attributable profit
|
733
|
1,157
|
1,049
|
1,263
|
|
413
|
627
|
694
|
820
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
28.7
|
27.8
|
28.4
|
28.2
|
|
26.3
|
26.4
|
29.1
|
26.2
|
Average goodwill and intangibles
|
—
|
—
|
—
|
—
|
|
—
|
—
|
(0.1)
|
—
|
Average allocated tangible equity
|
28.7
|
27.8
|
28.4
|
28.2
|
|
26.3
|
26.4
|
29.0
|
26.2
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
10.2%
|
16.6%
|
14.8%
|
17.9%
|
|
6.3%
|
9.5%
|
9.6%
|
12.5%
|
Consumer, Cards and Payments
|
|
|
|
|
|
|
|||
|
Q421
|
Q321
|
Q221
|
Q121
|
|
Q420
|
Q320
|
Q220
|
Q120
|
Return on average allocated tangible equity
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Attributable profit/(loss)
|
123
|
106
|
218
|
168
|
|
28
|
155
|
(226)
|
(291)
|
|
|
|
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Average allocated equity
|
5.1
|
4.9
|
4.6
|
4.6
|
|
4.8
|
4.8
|
5.1
|
5.7
|
Average goodwill and intangibles
|
(0.9)
|
(0.9)
|
(0.6)
|
(0.5)
|
|
(0.6)
|
(0.6)
|
(0.6)
|
(0.7)
|
Average allocated tangible equity
|
4.2
|
4.0
|
4.0
|
4.1
|
|
4.2
|
4.2
|
4.5
|
5.0
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
11.7%
|
10.5%
|
21.8%
|
16.5%
|
|
2.7%
|
14.7%
|
(20.2)%
|
(23.5)%
|
Tangible net asset value per share
|
As at 31.12.21
|
As at 31.12.20
|
|
£m
|
£m
|
Total equity excluding non-controlling interests
|
69,222
|
65,797
|
Other equity instruments
|
(12,259)
|
(11,172)
|
Goodwill and intangibles
|
(8,061)
|
(7,948)
|
Tangible shareholders' equity attributable to ordinary shareholders
of the parent
|
48,902
|
46,677
|
|
|
|
|
m
|
m
|
Shares in issue
|
16,752
|
17,359
|
|
|
|
|
p
|
p
|
Tangible net asset value per share
|
292
|
269
|
|
|
|
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.
|
1 Year Barclays Chart |
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