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BARCLAYS
PLC
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(Registrant)
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By: /s/
Karen Rowe
--------------------------------
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Karen
Rowe
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Assistant
Secretary
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Results Announcement
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Page
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Notes
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1
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Performance
Highlights
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2-3
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Group
Chief Executive Officer’s Review
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4
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Group
Finance Director’s Review
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5-6
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Results
by Business
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● Barclays
UK
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7-9
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● Barclays
International
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10-13
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● Head
Office
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14
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Quarterly
Results Summary
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15
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Quarterly
Results by Business
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16-21
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Performance Management
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● Margins
and Balances
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22
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Risk Management
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● Risk
Management and Principal Risks
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23
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● Credit
Risk
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24-33
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● Market
Risk
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34
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● Treasury
and Capital Risk
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35-46
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Statement
of Directors’ Responsibilities
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47
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Independent
Review Report to Barclays PLC
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48
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Condensed
Consolidated Financial Statements
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49-54
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Financial
Statement Notes
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55-83
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Appendix: Non-IFRS
Performance Measures
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84-93
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Shareholder
Information
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94
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● Barclays reported a
Group return on tangible equity (RoTE) of 9.4% for the first half
of 2019 and continues to target RoTE of >9% and >10% for 2019
and 2020 respectively1
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● The income
environment in the first half was challenging and as a result
Barclays is focused on net cost reductions in the second half and
expects to reduce costs for 2019 to
below the £13.6bn1 low
end of the Group’s previous cost guidance
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|
●
Barclays will pay a
half year dividend of 3.0p (H118: 2.5p) and is reiterating its
capital returns policy
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Returns1
Group
RoTE targets of >9% in 2019 and >10% in 2020
|
●
Profit
before tax of £3.1bn (H118: £3.7bn) and earnings per
share (EPS) of 12.6p (H118: 14.9p)
|
||
●
Group
RoTE of 9.4% (H118: 11.6%)
|
|||
-
Barclays UK RoTE of
15.1% (H118: 17.3%)
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|||
-
Barclays
International RoTE of 10.7% (H118: 12.9%), with the Corporate and
Investment Bank (CIB) RoTE of 9.4% (H118: 11.1%)
and Consumer, Cards and Payments of 16.7% (H118:
22.7%)
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|||
Cost efficiency
Group
cost guidance of below £13.6bn1 in 2019
Cost:
income ratio of <60% over time
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●
Group
operating expenses1 increased
1% to £6.8bn, resulting in a cost: income ratio of 63% (H118:
61%),
reflecting continued investment in the business offset by lower
compensation accruals and cost efficiencies
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||
●
Cost
control is a priority and, given the challenging income environment
experienced in the first half,
management expects to reduce 2019 costs below
£13.6bn1
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|||
Capital and dividends
CET1
ratio target of c.13%
|
●
Common
equity tier 1 (CET1) ratio of 13.4% (December 2018: 13.2%) was
above the Group’s target ratio of c.13%.
The reported CET1 ratio increased 40bps in the second
quarter
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||
●
Reiterating capital
returns policy, incorporating a progressive ordinary dividend,
supplemented by share buybacks as and when
appropriate.
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
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|||
●
Half
year dividend of 3.0p per share to be paid on 23 September 2019
(H118: 2.5p)
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●
|
Barclays Group profit before tax was £3.0bn (H118:
£1.7bn) and excluding litigation and conduct, was £3.1bn
(H118: £3.7bn). The cost:
income ratio was 63% (H118: 61%), with income down 1%, driven
mainly by margin pressure in Barclays UK and lower income in
Barclays International, while costs increased 1%, reflecting
continued investment in the business. Credit impairment charges
increased to £0.9bn (H118: £0.6bn) reflecting the
non-recurrence of favourable US macroeconomic forecast updates and
single name recoveries in H118, while
delinquencies in unsecured lending remained
stable
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●
|
Barclays UK profit before tax was £1.1bn (H118:
£0.8bn). Excluding litigation and conduct, profit
before tax was £1.1bn (H118: £1.2bn). Income declined 2%,
as continuing margin pressure was partially offset by continued
growth in mortgages and deposits. Operating expenses increased 2%
as digital investment was partially offset by cost efficiency
savings
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●
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Barclays International profit before tax was £2.3bn (H118:
£2.7bn). Income was down 1% driven by a reduction in
CIB, reflecting reduced client activity, lower volatility and a
smaller Banking fee pool across the industry2, offset by growth in
Consumer, Cards and Payments. Operating expenses increased 1% as
continued investment in the business was partially offset by
reduced variable compensation accruals, reflecting performance in
the CIB. Credit impairment charges increased from £0.2bn to
£0.5bn, due to the non-recurrence of favourable US
macroeconomic forecast updates and single name recoveries in
H118
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●
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Attributable profit was £2.1bn (H118: £0.6bn).
This reflected the non-recurrence of Q118 litigation and conduct
charges of £2.0bn, principally relating to the Residential
Mortgage Backed Securities settlement (RMBS) and Payment Protection
Insurance (PPI). Excluding litigation and conduct, attributable
profit was £2.2bn (H118: £2.6bn), generating basic
earnings per share of 12.6p (H118: 14.9p)
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●
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Tangible net asset value (TNAV) per share was 275p (December 2018:
262p) as 12.6p of EPS, excluding litigation and conduct, and
positive net reserve movements, were partially offset by payment of
the remaining full year 2018 dividend of 4p in the second
quarter
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1
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Excluding litigation and conduct, with returns targets based on a
Barclays Group CET1 ratio of c.13%. Group cost guidance is based on
a rate of 1.27 (USD/GBP) and subject to foreign currency
movements.
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2
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Data Source: Dealogic for the period covering 1 January to 30 June
2019
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Barclays Group results
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||
for the half year ended
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30.06.19
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30.06.18
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£m
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£m
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% Change
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Total income
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10,790
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10,934
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(1)
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Credit impairment charges and other provisions
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(928)
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(571)
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(63)
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Net operating income
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9,862
|
10,363
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(5)
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Operating expenses
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(6,758)
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(6,674)
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(1)
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Litigation and conduct
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(114)
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(2,042)
|
94
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Total operating expenses
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(6,872)
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(8,716)
|
21
|
Other net income
|
24
|
12
|
|
Profit before tax
|
3,014
|
1,659
|
82
|
Tax charge1
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(545)
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(644)
|
15
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Profit after tax
|
2,469
|
1,015
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|
Non-controlling interests
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(34)
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(108)
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69
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Other equity instrument holders
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(363)
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(346)
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(5)
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Attributable profit
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2,072
|
561
|
|
|
|
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|
Performance measures
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|
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Return on average tangible shareholders' equity
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9.1%
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2.6%
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Average tangible shareholders' equity (£bn)
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45.7
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43.8
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Cost: income ratio
|
64%
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80%
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Loan loss rate (bps)
|
54
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35
|
|
Basic earnings per share
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12.1p
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3.3p
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|
Dividend per share
|
3.0p
|
2.5p
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
|
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|
Profit before tax
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3,128
|
3,701
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(15)
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Attributable profit
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2,158
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2,550
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(15)
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Return on average tangible shareholders' equity
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9.4%
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11.6%
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Cost: income ratio
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63%
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61%
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|
Basic earnings per share
|
12.6p
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14.9p
|
|
|
|
|
|
|
As at 30.06.19
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As at 31.12.18
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As at 30.06.18
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Balance sheet and capital
management3
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£bn
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£bn
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£bn
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Tangible net asset value per share
|
275p
|
262p
|
259p
|
Common equity tier 1 ratio
|
13.4%
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13.2%
|
13.0%
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Common equity tier 1 capital
|
42.9
|
41.1
|
41.4
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Risk weighted assets
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319.1
|
311.9
|
319.3
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Average UK leverage ratio
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4.7%
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4.5%
|
4.6%
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UK leverage ratio
|
5.1%
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5.1%
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4.9%
|
|
|
|
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Funding and liquidity
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|
|
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Group liquidity pool (£bn)
|
238
|
227
|
214
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Liquidity coverage ratio
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156%
|
169%
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154%
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Loan: deposit ratio
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82%
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83%
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83%
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1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to Additional Tier 1 (AT1) instruments has been recognised
in the tax charge of the income statement, whereas it was
previously recorded in retained earnings. Comparatives have been
restated, reducing the tax charge for H118 by £93m. This
change does not impact earnings per share or return on average
tangible shareholders’ equity. Further detail can be found in
Note 1, Basis of preparation on pages 55 to 56.
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2
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Refer to pages 84 to 93 for further information and calculations of
performance measures excluding litigation and conduct
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3
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Capital, Risk Weighted Assets (RWAs) and leverage measures are
calculated applying the transitional arrangements of the Capital
Requirements Regulation (CRR) as amended by the Capital
Requirements Regulation II (CRR II) applicable as at the reporting
date. This includes IFRS 9 transitional arrangements. For more
information on the implementation of CRR II see page
40.
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4
|
The fully loaded CET1 ratio was 13.1%, with £41.7bn of CET1
capital and £319.0bn of RWAs, calculated without applying the
transitional arrangements of the CRR as amended by CRR II
applicable as at the reporting date.
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●
|
Profit
before tax was £3,014m (H118: £1,659m). Excluding
litigation and conduct, profit before tax was £3,128m (H118:
£3,701m), reflecting the challenging income environment and an
increase in impairment due to the non-recurrence of favourable US
macroeconomic forecast updates and single name recoveries in H118.
The 7% appreciation of average USD against GBP positively impacted
income and profits and adversely impacted credit impairment charges
and operating expenses
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●
|
Total
income decreased 1% to £10,790m. Barclays UK income decreased
2% as continued mortgage and deposit balance growth was offset by
margin compression and maintaining a reduced risk appetite in UK
cards. Barclays International income was down 1%, as the
challenging income environment resulted in a 1% reduction in CIB,
offset by a 2% increase in Consumer, Cards and
Payments
|
●
|
Credit
impairment charges increased to £928m (H118: £571m)
primarily due to the non-recurrence of favourable US macroeconomic
forecast updates and single name recoveries in H118. The economic
environment continued to be benign and there were no changes in the
macroeconomic variables used in impairment modelling in the first
half. Delinquencies in unsecured lending remained stable,
reflecting the continued prudent management of credit risk. The
Barclays Group loan loss rate was 54bps (H118: 35bps)
|
●
|
Operating
expenses increased 1% to £6,758m reflecting continued
investment in the business including planned digitisation of
Barclays UK, partially offset by lower variable compensation
accruals in CIB and cost efficiencies. The cost: income ratio,
excluding litigation and conduct, increased to 63% (H118:
61%)
|
●
|
The
effective tax rate was 18.1%. This reflects a change in accounting
standards requiring tax relief on payments made under Additional
Tier 1 (AT1) instruments, which in prior periods was recognised in
retained earnings, to be recognised in the income
statement
|
●
|
Attributable
profit was £2,072m (H118: £561m). Excluding litigation
and conduct, attributable profit was £2,158m (H118:
£2,550m), generating a RoTE of 9.4% (H118: 11.6%) and EPS of
12.6p (H118: 14.9p)
|
●
|
TNAV
per share was 275p (December 2018: 262p) as 12.6p of EPS, excluding
litigation and conduct, and positive net reserve movements, were
partially offset by payment of the remaining full year 2018
dividend of 4p in the second quarter
|
●
|
The
CET1 ratio increased to 13.4% (December 2018: 13.2%) primarily
driven by a £1.8bn increase in CET1 capital partially offset
by an increase of £7.2bn in Risk Weighted Assets (RWAs)
compared to year-end 2018
|
|
-
CET1
capital increased by £1.8bn to £42.9bn driven by
underlying profit generation of £2.4bn and an increase of
£0.5bn in the fair value through other comprehensive income
reserve, primarily due to decreasing bond yields.
These increases were partially offset by £1.2bn dividends paid
and foreseen and £0.3bn from pension deficit reduction
contributions
|
||
-
The
increase in RWAs was primarily driven by increased CIB activity
compared to year-end 2018
|
||
●
|
The average UK leverage ratio increased to 4.7% (December 2018:
4.5%) primarily driven by an increase in Tier 1 (T1) capital, which
included the accretion of CET1 capital and the issuance of AT1
securities, partially offset by a modest increase in exposure to
£1,135bn (December 2018: £1,110bn). The UK leverage ratio
remained stable at 5.1% (December 2018: 5.1%)
|
●
|
The
liquidity pool increased to £238bn (December 2018:
£227bn) reflecting the Group’s prudent liquidity
management approach. The liquidity coverage ratio (LCR) remained
well above the 100% regulatory requirement at 156% (December 2018:
169%), equivalent to a surplus of £83bn (December 2018:
£90bn). The decrease in the LCR and surplus reflects support
for seasonal activity, while maintaining a conservative liquidity
position
|
●
|
Wholesale
funding outstanding, excluding repurchase agreements, was
£166bn (December 2018: £154bn). The Group issued
£7.1bn equivalent of minimum requirement for own funds and
eligible liabilities (MREL) instruments year-to-date from Barclays
PLC (the Parent company). The Group is well advanced in its MREL
issuance plans, with a Barclays PLC MREL ratio of 30.2% as at 30
June 2019 relative to an estimated requirement including requisite
buffers of 29.9% by 1 January 2022
|
1
|
Excluding litigation and conduct, with returns targets based on a
Barclays Group CET1 ratio of c.13%. Group cost guidance is based on
a rate of 1.27 (USD/GBP) and subject to foreign currency
movements.
|
●
|
The
remaining PPI provision as at 30 June 2019 was £0.4bn
(December 2018: £0.9bn). This represents Barclays best
estimate of expected PPI related costs. However, the uncertainty
associated with future claims levels has increased ahead of the
Financial Conduct Authority (FCA) complaints deadline on 29 August
2019
|
●
|
Following
regulatory approval, Barclays intends to call the three AT1
instruments eligible for call on 15 September 2019. The redemptions
will result in a pro-forma decrease of c.13bps to the 30 June 2019
CET1 ratio due to two of these instruments being held on the
balance sheet at historical FX rates
|
●
|
The
Group continues to target 2019 and 2020 RoTE of >9% and >10%
respectively1
|
●
|
Given
the challenging income environment experienced in the first half,
management expects to reduce 2019 costs below
£13.6bn1
|
●
|
Barclays
existing capital returns policy as set out in our Full Year 2018
results remains unchanged:
|
|
|
|
“Barclays understands the importance of delivering attractive
cash returns to shareholders. Barclays is therefore committed to
maintaining an appropriate balance between total cash returns to
shareholders, investment in the business and maintaining a strong
capital position. Going forward, Barclays intends to pay a
progressive ordinary dividend, taking into account these objectives
and the earnings outlook of the Group. It is also the Board’s
intention to supplement the ordinary dividends with additional cash
returns, including share buybacks, to shareholders as and when
appropriate.”
|
●
|
Reflecting
this, Barclays will pay a half year dividend per share of 3.0p on
23 September 2019 (H118: 2.5p)
|
|
●
|
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
|
1
|
Excluding litigation and conduct, with returns targets based on a
Barclays Group CET1 ratio of c.13%. Group cost guidance is based on
a rate of 1.27 (USD/GBP) and subject to foreign currency
movements.
|
Barclays UK
|
Half year ended
|
Half year ended
|
|
30.06.19
|
30.06.18
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
2,907
|
2,986
|
(3)
|
Net fee, commission and other income
|
641
|
638
|
-
|
Total income
|
3,548
|
3,624
|
(2)
|
Credit impairment charges and other provisions
|
(421)
|
(415)
|
(1)
|
Net operating income
|
3,127
|
3,209
|
(3)
|
Operating expenses
|
(2,021)
|
(1,973)
|
(2)
|
Litigation and conduct
|
(44)
|
(414)
|
89
|
Total operating expenses
|
(2,065)
|
(2,387)
|
13
|
Other net income
|
-
|
4
|
|
Profit before tax
|
1,062
|
826
|
29
|
Attributable profit1
|
750
|
447
|
68
|
|
|
|
|
|
As at 30.06.19
|
As at 31.12.18
|
As at 30.06.18
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
189.1
|
187.6
|
185.3
|
Total assets
|
259.0
|
249.7
|
245.9
|
Customer deposits at amortised cost
|
200.9
|
197.3
|
194.3
|
Loan: deposit ratio
|
97%
|
96%
|
96%
|
Risk weighted assets
|
76.2
|
75.2
|
75.0
|
Period end allocated tangible equity
|
10.3
|
10.2
|
10.2
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
Key facts
|
30.06.19
|
30.06.18
|
|
Average loan to value of mortgage portfolio2
|
50%
|
50%
|
|
Average loan to value of new mortgage lending2
|
67%
|
64%
|
|
Number of branches
|
972
|
1,155
|
|
Mobile banking active customers
|
7.9m
|
6.7m
|
|
30 day arrears rate - Barclaycard Consumer UK
|
1.8%
|
1.9%
|
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
14.5%
|
9.0%
|
|
Average allocated tangible equity (£bn)
|
10.3
|
10.0
|
|
Cost: income ratio
|
58%
|
66%
|
|
Loan loss rate (bps)
|
43
|
44
|
|
Net interest margin
|
3.11%
|
3.24%
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct3
|
£m
|
£m
|
% Change
|
Profit before tax
|
1,106
|
1,240
|
(11)
|
Attributable profit
|
782
|
859
|
(9)
|
Return on average allocated tangible equity
|
15.1%
|
17.3%
|
|
Cost: income ratio
|
57%
|
54%
|
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact earnings per share or return on average tangible
shareholders’ equity. Further detail can be found in Note 1,
Basis of preparation on pages 55 to 56.
|
2
|
Average loan to value of mortgages is balance weighted and reflects
both residential and buy-to-let mortgage portfolios.
|
3
|
Refer to pages 84 to 93 for further information and calculations of
performance measures excluding litigation and conduct.
|
Analysis of Barclays UK
|
Half year ended
|
Half year ended
|
|
30.06.19
|
30.06.18
|
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
Personal Banking
|
1,910
|
1,987
|
(4)
|
Barclaycard Consumer UK
|
987
|
1,031
|
(4)
|
Business Banking
|
651
|
606
|
7
|
Total income
|
3,548
|
3,624
|
(2)
|
|
|
|
|
Analysis of credit impairment charges and other
provisions
|
|
|
|
Personal Banking
|
(88)
|
(121)
|
27
|
Barclaycard Consumer UK
|
(315)
|
(252)
|
(25)
|
Business Banking
|
(18)
|
(42)
|
57
|
Total credit impairment charges and other provisions
|
(421)
|
(415)
|
(1)
|
|
|
|
|
|
As at 30.06.19
|
As at 31.12.18
|
As at 30.06.18
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
£bn
|
Personal Banking
|
147.3
|
146.0
|
143.6
|
Barclaycard Consumer UK
|
15.1
|
15.3
|
15.2
|
Business Banking
|
26.7
|
26.3
|
26.5
|
Total loans and advances to customers at amortised
cost
|
189.1
|
187.6
|
185.3
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
Personal Banking
|
156.3
|
154.0
|
152.9
|
Barclaycard Consumer UK
|
-
|
-
|
-
|
Business Banking
|
44.6
|
43.3
|
41.4
|
Total customer deposits at amortised cost
|
200.9
|
197.3
|
194.3
|
●
|
Profit
before tax, excluding litigation and conduct, decreased 11% to
£1,106m. RoTE was robust at 15.1% (H118: 17.3%) reflecting the
continuing strength of the Barclays UK business in a challenging
income environment. Including litigation and conduct charges of
£44m (H118: £414m) that decreased primarily due to the
non-recurrence of a PPI charge, profit before tax increased 29% to
£1,062m
|
|
●
|
Total
income decreased 2% to £3,548m due to a 3% decrease in net
interest income (NII) to £2,907m
|
|
-
Personal Banking
income decreased 4% to £1,910m, reflecting ongoing mortgage
margin pressure, partially offset by mortgage and deposit balance
growth and improved liability margins
|
||
-
Barclaycard
Consumer UK income decreased 4% to £987m reflecting the
maintenance of a reduced risk appetite, which resulted in a lower
level of IEL balances
|
||
-
Business Banking
income increased 7% to £651m driven by continued deposit
growth, improved liability margins and the non-recurrence of client
remediation in H118
|
||
-
NIM
decreased 13bps to 3.11% reflecting increased refinancing activity
by mortgage customers, lower IEL in UK cards and the mix effect
from growth in secured lending
|
||
●
|
Credit
impairment charges were broadly flat at £421m (H118:
£415m), with releases on single name exposures in Business
Banking offsetting higher charges in UK cards due to the embedment
of IFRS 9 in H118. The 30 and 90 day arrears rates in UK cards
remained stable at 1.8% (H118: 1.9%) and 0.9% (H118: 0.9%)
respectively
|
|
●
|
Operating
expenses increased 2% to £2,021m as planned digital investment
in the business and inflation outweighed cost efficiencies. The
cost: income ratio, excluding litigation and conduct, was 57%
(H118: 54%)
|
●
|
Loans
and advances to customers at amortised cost increased 1% to
£189.1bn reflecting £1.8bn of mortgage
growth
|
●
|
Total
assets increased 4% to £259.0bn reflecting increases in the
liquidity pool and loans and advances to customers
|
●
|
Customer
deposits at amortised cost increased 2% to £200.9bn
demonstrating franchise strength across both Personal and Business
Banking
|
●
|
RWAs
increased to £76.2bn (December 2018: £75.2bn) including
the recognition of property leases following IFRS 16
implementation, growth in Mortgages and Business Banking and change
in mix of the liquidity pool
|
Barclays International
|
Half year ended
|
Half year ended
|
|
30.06.19
|
30.06.18
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
1,917
|
1,866
|
3
|
Net trading income
|
2,160
|
2,510
|
(14)
|
Net fee, commission and other income
|
3,396
|
3,139
|
8
|
Total income
|
7,473
|
7,515
|
(1)
|
Credit impairment charges and other provisions
|
(492)
|
(161)
|
|
Net operating income
|
6,981
|
7,354
|
(5)
|
Operating expenses
|
(4,641)
|
(4,606)
|
(1)
|
Litigation and conduct
|
(30)
|
(62)
|
52
|
Total operating expenses
|
(4,671)
|
(4,668)
|
-
|
Other net income
|
31
|
24
|
29
|
Profit before tax
|
2,341
|
2,710
|
(14)
|
Attributable profit1
|
1,620
|
1,933
|
(16)
|
|
|
|
|
|
As at 30.06.19
|
As at 31.12.18
|
As at 30.06.18
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
134.8
|
127.2
|
125.5
|
Trading portfolio assets
|
120.0
|
104.0
|
116.5
|
Derivative financial instrument assets
|
243.8
|
222.1
|
228.2
|
Financial assets at fair value through the income
statement
|
154.7
|
144.7
|
141.2
|
Cash collateral and settlement balances
|
101.3
|
74.3
|
91.5
|
Other assets
|
196.8
|
189.8
|
183.6
|
Total assets
|
951.4
|
862.1
|
886.5
|
Deposits at amortised cost
|
212.0
|
197.2
|
191.0
|
Derivative financial instrument liabilities
|
243.0
|
219.6
|
224.9
|
Loan: deposit ratio
|
64%
|
65%
|
66%
|
Risk weighted assets
|
214.8
|
210.7
|
218.0
|
Period end allocated tangible equity
|
30.2
|
29.9
|
30.5
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
Performance measures
|
30.06.19
|
30.06.18
|
|
Return on average allocated tangible equity
|
10.5%
|
12.6%
|
|
Average allocated tangible equity (£bn)
|
30.8
|
30.7
|
|
Cost: income ratio
|
63%
|
62%
|
|
Loan loss rate (bps)
|
72
|
25
|
|
Net interest margin
|
3.95%
|
4.30%
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
% Change
|
Profit before tax
|
2,371
|
2,772
|
(14)
|
Attributable profit
|
1,644
|
1,979
|
(17)
|
Return on average allocated tangible equity
|
10.7%
|
12.9%
|
|
Cost: income ratio
|
62%
|
61%
|
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact earnings per share or return on average tangible
shareholders’ equity. Further detail can be found in Note 1,
Basis of preparation on pages 55 to 56.
|
2
|
Refer to pages 84 to 93 for further information and calculations of
performance measures excluding litigation and conduct.
|
Analysis of Barclays International
|
|
|
|
Corporate and Investment Bank
|
Half year ended
|
Half year ended
|
|
30.06.19
|
30.06.18
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
FICC
|
1,822
|
1,605
|
14
|
Equities
|
984
|
1,191
|
(17)
|
Markets
|
2,806
|
2,796
|
-
|
Banking fees
|
1,267
|
1,387
|
(9)
|
Corporate lending
|
368
|
438
|
(16)
|
Transaction banking
|
859
|
799
|
8
|
Corporate
|
1,227
|
1,237
|
(1)
|
Other
|
-
|
(41)
|
|
Total income
|
5,300
|
5,379
|
(1)
|
Credit impairment (charges)/releases and other
provisions
|
(96)
|
182
|
|
Net operating income
|
5,204
|
5,561
|
(6)
|
Operating expenses
|
(3,479)
|
(3,546)
|
2
|
Litigation and conduct
|
(26)
|
(13)
|
|
Total operating expenses
|
(3,505)
|
(3,559)
|
2
|
Other net income
|
15
|
8
|
88
|
Profit before tax
|
1,714
|
2,010
|
(15)
|
Attributable profit1
|
1,178
|
1,434
|
(18)
|
|
|
|
|
|
As at 30.06.19
|
As at 31.12.18
|
As at 30.06.18
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
92.1
|
86.4
|
87.8
|
Trading portfolio assets
|
119.9
|
104.0
|
116.5
|
Derivative financial instrument assets
|
243.7
|
222.1
|
228.1
|
Financial assets at fair value through the income
statement
|
154.1
|
144.2
|
140.7
|
Cash collateral and settlement balances
|
100.4
|
73.4
|
90.6
|
Other assets
|
168.1
|
160.4
|
151.6
|
Total assets
|
878.3
|
790.5
|
815.3
|
Deposits at amortised cost
|
145.4
|
136.3
|
130.3
|
Derivative financial instrument liabilities
|
242.9
|
219.6
|
224.9
|
Risk weighted assets
|
175.9
|
170.9
|
180.4
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
Performance measures
|
30.06.19
|
30.06.18
|
|
Return on average allocated tangible equity
|
9.3%
|
11.0%
|
|
Average allocated tangible equity (£bn)
|
25.5
|
26.0
|
|
Cost: income ratio
|
66%
|
66%
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
% Change
|
Profit before tax
|
1,740
|
2,023
|
(14)
|
Attributable profit
|
1,199
|
1,444
|
(17)
|
Return on average allocated tangible equity
|
9.4%
|
11.1%
|
|
Cost: income ratio
|
66%
|
66%
|
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact earnings per share or return on average tangible
shareholders’ equity. Further detail can be found in Note 1,
Basis of preparation on pages 55 to 56.
|
2
|
Refer to pages 84 to 93 for more information and calculations of
performance measures excluding litigation and conduct.
|
Analysis of Barclays International
|
|
|
|
Consumer, Cards and Payments
|
Half year ended
|
Half year ended
|
|
30.06.19
|
30.06.18
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Total income
|
2,173
|
2,136
|
2
|
Credit impairment charges and other provisions
|
(396)
|
(343)
|
(15)
|
Net operating income
|
1,777
|
1,793
|
(1)
|
Operating expenses
|
(1,162)
|
(1,060)
|
(10)
|
Litigation and conduct
|
(4)
|
(49)
|
92
|
Total operating expenses
|
(1,166)
|
(1,109)
|
(5)
|
Other net income
|
16
|
16
|
-
|
Profit before tax
|
627
|
700
|
(10)
|
Attributable profit1
|
442
|
499
|
(11)
|
|
|
|
|
|
As at 30.06.19
|
As at 31.12.18
|
As at 30.06.18
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
42.7
|
40.8
|
37.7
|
Total assets
|
73.1
|
71.6
|
71.2
|
Deposits at amortised cost
|
66.6
|
60.9
|
60.7
|
Risk weighted assets
|
38.9
|
39.8
|
37.6
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
Key facts
|
30.06.19
|
30.06.18
|
|
30 day arrears rate – Barclaycard US
|
2.4%
|
2.5%
|
|
Total number of Barclaycard business clients
|
383,382
|
370,000
|
|
Value of payments processed (£bn)
|
174
|
169
|
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
16.6%
|
21.2%
|
|
Average allocated tangible equity (£bn)
|
5.3
|
4.7
|
|
Cost: income ratio
|
54%
|
52%
|
|
Loan loss rate (bps)
|
176
|
171
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
% Change
|
Profit before tax
|
631
|
749
|
(16)
|
Attributable profit
|
445
|
535
|
(17)
|
Return on average allocated tangible equity
|
16.7%
|
22.7%
|
|
Cost: income ratio
|
53%
|
50%
|
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact earnings per share or return on average tangible
shareholders’ equity. Further detail can be found in Note 1,
Basis of preparation on pages 55 to 56.
|
2
|
Refer to pages 84 to 93 for more information and calculations of
performance measures excluding litigation and conduct.
|
●
|
Profit
before tax, excluding litigation and conduct, decreased 14% to
£2,371m resulting in a RoTE of 10.7% (H118: 12.9%), reflecting
returns in the CIB of 9.4% (H118: 11.1%) and Consumer, Cards and
Payments of 16.7% (H118: 22.7%)
|
||
●
|
The 7%
appreciation of average USD against GBP positively impacted profits
and income, and adversely impacted credit impairment charges and
operating expenses
|
||
●
|
Total
income decreased to £7,473m (H118: £7,515m)
|
||
|
- CIB income of
£5,300m decreased 1% as positive performance in FICC and
Transaction Banking was offset by the impact of a lower Banking fee
pool across the industry1 and
reduced client activity in Equities.
Markets income was in line at £2,806m, Banking fees income
decreased 9% to £1,267m and Corporate income decreased 1% to
£1,227m
|
||
|
- Within
Markets, FICC income increased 14% to £1,822m. Excluding the
£166m strategic investment gain on the initial public offering
of Tradeweb, FICC income increased 3% reflecting a strong
performance in rates
and growth in securitised products. Equities income
decreased 17% to £984m driven by equity derivatives, which was
impacted by reduced client activity
|
||
|
-
Banking fees income
decreased 9% to £1,267m driven by lower debt underwriting fees
reflecting a reduced Banking fee pool1, offset by an increase in advisory
fees.
However, Barclays share of the global Banking fee pool has
increased since FY181
|
||
|
-
Within Corporate,
Transaction banking income increased 8% to £859m reflecting
growth in deposits. This was offset by a decrease in Corporate
lending income to £368m (H118: £438m).
Excluding mark-to-market movements on loan hedges, Corporate
lending income was stable at c.£400m
|
||
|
-
Consumer, Cards and
Payments income increased 2% to £2,173m reflecting balance
growth in the US cards business, partnership growth in merchant
acquiring and appreciation of
USD against GBP, offset by the non-recurrence of a £53m gain
on the sale of a US cards portfolio in H118
|
||
●
|
Credit
impairment charges increased to £492m (H118:
£161m)
|
||
|
-
CIB
credit impairment charges increased to £96m (H118: release of
£182m) due to the non-recurrence of favourable macroeconomic
forecast updates and single name recoveries in H118
|
||
|
-
Consumer, Cards and
Payments credit impairment charges increased to £396m (H118:
£343m) due to the non-recurrence of favourable US
macroeconomic forecast updates in H118.
Credit metrics were stable, with US cards 30 and 90 day arrears of
2.4% (H118: 2.5%) and 1.3% (H118: 1.3%) respectively
|
||
●
|
Operating
expenses increased 1% to £4,641m as continued investment in
the business was offset by variable compensation accruals which
were reduced in response to performance in Q119
|
||
|
-
CIB
operating expenses decreased 2% to £3,479m as variable
compensation accruals were reduced in response to performance in
Q119 partially offset by continued investment in the
business
|
||
|
-
Consumer, Cards and
Payments operating expenses increased 10% to £1,162m driven by
continued investment in US cards, merchant acquiring and
wealth
|
●
|
Total
assets of £951.4bn increased by £89.3bn compared to
year-end 2018
|
●
|
Trading
portfolio assets increased £16.0bn to £120.0bn and cash
collateral and settlement balances increased £27.0bn to
£101.3bn, both due to increased trading activity compared to
year-end 2018
|
●
|
Derivative
financial instrument assets and liabilities increased £21.7bn
to £243.8bn and £23.4bn to £243.0bn respectively
driven by a decrease in major interest rate curves, principally in
the second quarter
|
●
|
Financial
assets at fair value through the income statement increased
£10.0bn to £154.7bn due to increased secured lending
compared to year-end 2018
|
●
|
Deposits
at amortised cost increased £14.8bn to £212.0bn due to
increased customer deposits
|
●
|
RWAs
increased to £214.8bn (December 2018: £210.7bn), driven
by increased CIB activity compared to year-end 2018
|
1
|
Data Source: Dealogic for the period covering 1 January to 30 June
2019
|
Head Office
|
Half year ended
|
Half year ended
|
|
30.06.19
|
30.06.18
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
(206)
|
(474)
|
57
|
Net fee, commission and other income
|
(25)
|
269
|
|
Total income
|
(231)
|
(205)
|
(13)
|
Credit impairment (charges)/releases and other
provisions
|
(15)
|
5
|
|
Net operating income
|
(246)
|
(200)
|
(23)
|
Operating expenses
|
(96)
|
(95)
|
(1)
|
Litigation and conduct
|
(40)
|
(1,566)
|
97
|
Total operating expenses
|
(136)
|
(1,661)
|
92
|
Other net expenses
|
(7)
|
(16)
|
56
|
Loss before tax
|
(389)
|
(1,877)
|
79
|
Attributable loss1
|
(298)
|
(1,819)
|
84
|
|
|
|
|
|
As at 30.06.19
|
As at 31.12.18
|
As at 30.06.18
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Total assets
|
22.4
|
21.5
|
17.2
|
Risk weighted assets
|
28.1
|
26.0
|
26.3
|
Period end allocated tangible equity
|
7.0
|
4.9
|
3.6
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
Performance measures
|
30.06.19
|
30.06.18
|
|
Average allocated tangible equity (£bn)
|
4.6
|
3.1
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
% Change
|
Loss before tax
|
(349)
|
(311)
|
(12)
|
Attributable loss
|
(268)
|
(288)
|
7
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact earnings per share or return on average tangible
shareholders’ equity. Further detail can be found in Note 1,
Basis of preparation on pages 55 to 56.
|
2
|
Refer to pages 84 to 93 for further
information and calculations of performance measures excluding
litigation and conduct.
|
●
|
Loss
before tax, excluding litigation and conduct, was £349m (H118:
£311m). Including litigation and conduct charges of £40m
(H118: £1,566m) that decreased primarily due to the
non-recurrence of the RMBS settlement, loss before tax was
£389m (H118: £1,877m)
|
●
|
Total
income was an expense of £231m (H118: £205m) which
included legacy capital instrument funding costs, and hedge
accounting expenses partially offset by the recognition of
dividends on Barclays stake in Absa Group Limited. Income expense
increased on prior year reflecting the non-recurrence of a
£155m one-off gain from the settlement of receivables relating
to the Lehman Brothers acquisition, partially offset by lower net
expenses from treasury operations
|
●
|
Operating
expenses, excluding litigation and conduct, were £96m (H118:
£95m)
|
●
|
Total
assets increased to £22.4bn (December 2018: £21.5bn) and
RWAs increased to £28.1bn (December 2018: £26.0bn) driven
by recognition of property leases following IFRS 16
implementation
|
●
|
Period
end allocated tangible equity increased to £7.0bn (December
2018: £4.9bn) mainly due to the Group’s CET1 ratio being
above the 13.0% target which is used in the allocation of equity to
the businesses
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Net interest income
|
2,360
|
2,258
|
|
2,296
|
2,388
|
2,190
|
2,188
|
|
2,272
|
2,475
|
Net fee, commission and other income
|
3,178
|
2,994
|
|
2,777
|
2,741
|
3,386
|
3,170
|
|
2,750
|
2,698
|
Total income
|
5,538
|
5,252
|
|
5,073
|
5,129
|
5,576
|
5,358
|
|
5,022
|
5,173
|
Credit impairment charges and other provisions
|
(480)
|
(448)
|
|
(643)
|
(254)
|
(283)
|
(288)
|
|
(573)
|
(709)
|
Net operating income
|
5,058
|
4,804
|
|
4,430
|
4,875
|
5,293
|
5,070
|
|
4,449
|
4,464
|
Operating costs
|
(3,501)
|
(3,257)
|
|
(3,624)
|
(3,329)
|
(3,310)
|
(3,364)
|
|
(3,621)
|
(3,274)
|
UK bank levy
|
-
|
-
|
|
(269)
|
-
|
-
|
-
|
|
(365)
|
-
|
Operating expenses
|
(3,501)
|
(3,257)
|
|
(3,893)
|
(3,329)
|
(3,310)
|
(3,364)
|
|
(3,986)
|
(3,274)
|
Guaranteed Minimum Pensions (GMP) charge
|
-
|
-
|
|
(140)
|
-
|
-
|
-
|
|
-
|
-
|
Litigation and conduct
|
(53)
|
(61)
|
|
(60)
|
(105)
|
(81)
|
(1,961)
|
|
(383)
|
(81)
|
Total operating expenses
|
(3,554)
|
(3,318)
|
|
(4,093)
|
(3,434)
|
(3,391)
|
(5,325)
|
|
(4,369)
|
(3,355)
|
Other net income/(expenses)
|
27
|
(3)
|
|
37
|
20
|
(7)
|
19
|
|
13
|
(2)
|
Profit/(loss) before tax
|
1,531
|
1,483
|
|
374
|
1,461
|
1,895
|
(236)
|
|
93
|
1,107
|
Tax charge1
|
(297)
|
(248)
|
|
(83)
|
(192)
|
(386)
|
(258)
|
|
(1,089)
|
(281)
|
Profit/(loss) after tax
|
1,234
|
1,235
|
|
291
|
1,269
|
1,509
|
(494)
|
|
(996)
|
826
|
Non-controlling interests
|
(17)
|
(17)
|
|
(75)
|
(43)
|
(55)
|
(53)
|
|
(68)
|
(43)
|
Other equity instrument holders
|
(183)
|
(180)
|
|
(230)
|
(176)
|
(175)
|
(171)
|
|
(181)
|
(157)
|
Attributable
profit/(loss)1
|
1,034
|
1,038
|
|
(14)
|
1,050
|
1,279
|
(718)
|
|
(1,245)
|
626
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
9.0%
|
9.2%
|
|
(0.1%)
|
9.4%
|
11.8%
|
(6.5%)
|
|
(10.3%)
|
5.1%
|
Average tangible shareholders' equity (£bn)
|
46.2
|
45.2
|
|
44.3
|
44.6
|
43.5
|
44.2
|
|
48.1
|
48.9
|
Cost: income ratio
|
64%
|
63%
|
|
81%
|
67%
|
61%
|
99%
|
|
87%
|
65%
|
Loan loss rate (bps)2
|
56
|
54
|
|
77
|
30
|
35
|
36
|
|
56
|
66
|
Basic earnings/(loss) per share
|
6.0p
|
6.1p
|
|
(0.1p)
|
6.1p
|
7.5p
|
(4.2p)
|
|
(7.3p)
|
3.7p
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct3
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Profit before tax
|
1,584
|
1,544
|
|
434
|
1,566
|
1,976
|
1,725
|
|
476
|
1,188
|
Attributable profit/(loss)
|
1,074
|
1,084
|
|
48
|
1,135
|
1,338
|
1,212
|
|
(894)
|
703
|
Return on average tangible shareholders' equity
|
9.3%
|
9.6%
|
|
0.4%
|
10.2%
|
12.3%
|
11.0%
|
|
(7.4%)
|
5.7%
|
Cost: income ratio
|
63%
|
62%
|
|
79%
|
65%
|
59%
|
63%
|
|
79%
|
63%
|
Basic earnings/(loss) per share
|
6.3p
|
6.3p
|
|
0.3p
|
6.6p
|
7.8p
|
7.1p
|
|
(5.3p)
|
4.1p
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet and capital
management4
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Total assets
|
1,232.8
|
1,193.5
|
|
1,133.3
|
1,170.8
|
1,149.6
|
1,142.2
|
|
1,133.2
|
1,149.3
|
Tangible net asset value per share
|
275p
|
266p
|
|
262p
|
260p
|
259p
|
251p
|
|
276p
|
281p
|
Common equity tier 1 ratio
|
13.4%
|
13.0%
|
|
13.2%
|
13.2%
|
13.0%
|
12.7%
|
|
13.3%
|
13.1%
|
Common equity tier 1 capital
|
42.9
|
41.4
|
|
41.1
|
41.7
|
41.4
|
40.2
|
|
41.6
|
42.3
|
Risk weighted assets
|
319.1
|
319.7
|
|
311.9
|
316.2
|
319.3
|
317.9
|
|
313.0
|
324.3
|
Average UK leverage ratio
|
4.7%
|
4.6%
|
|
4.5%
|
4.6%
|
4.6%
|
4.6%
|
|
4.9%
|
4.9%
|
Average UK leverage exposure
|
1,134.6
|
1,105.5
|
|
1,110.0
|
1,119.0
|
1,081.8
|
1,089.9
|
|
1,044.6
|
1,035.1
|
UK leverage ratio
|
5.1%
|
4.9%
|
|
5.1%
|
4.9%
|
4.9%
|
4.8%
|
|
5.1%
|
5.1%
|
UK leverage exposure
|
1,079.4
|
1,065.0
|
|
998.6
|
1,063.5
|
1,030.1
|
1,030.8
|
|
984.7
|
1,002.1
|
|
|
|
|
|
|
|
|
|
|
|
Funding and liquidity
|
|
|
|
|
|
|
|
|
|
|
Group liquidity (£bn)
|
238
|
232
|
|
227
|
213
|
214
|
207
|
|
220
|
216
|
Liquidity coverage ratio
|
156%
|
160%
|
|
169%
|
161%
|
154%
|
147%
|
|
154%
|
157%
|
Loan : deposit ratio
|
82%
|
80%
|
|
83%
|
83%
|
83%
|
84%
|
|
81%
|
80%
|
|
|
|
|
|
|
|
|
|
|
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact earnings per share or return on average tangible
shareholders’ equity. Further detail can be found in Note 1,
Basis of preparation on pages 55 to 56.
|
2
|
Prior to Q118 comparatives calculated based on gross loans and
advances at amortised cost before the balance sheet presentation
change and IAS 39 impairment charge.
|
3
|
Refer to pages 84 to 93 for further information and calculations of
performance measures excluding litigation and conduct.
|
4
|
Capital, RWAs and leverage measures are calculated applying the
transitional arrangements of the CRR as amended by CRR II
applicable as at the reporting date. This includes IFRS 9
transitional arrangements. For more information on the
implementation of CRR II see page 40.
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
|
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
|
Q317
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
|
£m
|
Net interest income
|
1,438
|
1,469
|
|
1,513
|
1,529
|
1,493
|
1,493
|
|
1,540
|
|
1,501
|
Net fee, commission and other income
|
333
|
308
|
|
350
|
367
|
343
|
295
|
|
330
|
|
351
|
Total income
|
1,771
|
1,777
|
|
1,863
|
1,896
|
1,836
|
1,788
|
|
1,870
|
|
1,852
|
Credit impairment charges and other provisions
|
(230)
|
(191)
|
|
(296)
|
(115)
|
(214)
|
(201)
|
|
(184)
|
|
(201)
|
Net operating income
|
1,541
|
1,586
|
|
1,567
|
1,781
|
1,622
|
1,587
|
|
1,686
|
|
1,651
|
Operating costs
|
(1,022)
|
(999)
|
|
(1,114)
|
(988)
|
(968)
|
(1,005)
|
|
(1,117)
|
|
(980)
|
UK bank levy
|
-
|
-
|
|
(46)
|
-
|
-
|
-
|
|
(59)
|
|
-
|
Litigation and conduct
|
(41)
|
(3)
|
|
(15)
|
(54)
|
(3)
|
(411)
|
|
(53)
|
|
(11)
|
Total operating expenses
|
(1,063)
|
(1,002)
|
|
(1,175)
|
(1,042)
|
(971)
|
(1,416)
|
|
(1,229)
|
|
(991)
|
Other net (expenses)/income
|
(1)
|
1
|
|
(2)
|
1
|
5
|
(1)
|
|
(5)
|
|
1
|
Profit before tax
|
477
|
585
|
|
390
|
740
|
656
|
170
|
|
452
|
|
661
|
Attributable profit/(loss)1
|
328
|
422
|
|
241
|
510
|
473
|
(26)
|
|
258
|
|
432
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
|
£bn
|
Loans and advances to customers at amortised cost
|
189.1
|
187.5
|
|
187.6
|
186.7
|
185.3
|
184.3
|
|
183.8
|
|
182.2
|
Total assets
|
259.0
|
253.1
|
|
249.7
|
252.0
|
245.9
|
235.2
|
|
237.4
|
|
230.4
|
Customer deposits at amortised cost
|
200.9
|
197.3
|
|
197.3
|
195.8
|
194.3
|
192.0
|
|
193.4
|
|
189.3
|
Loan: deposit ratio
|
97%
|
96%
|
|
96%
|
96%
|
96%
|
96%
|
|
95%
|
|
97%
|
Risk weighted assets
|
76.2
|
76.6
|
|
75.2
|
74.8
|
75.0
|
72.5
|
|
70.9
|
|
70.0
|
Period end allocated tangible equity
|
10.3
|
10.5
|
|
10.2
|
10.1
|
10.2
|
9.8
|
|
9.6
|
|
9.5
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
12.7%
|
16.3%
|
|
9.6%
|
20.1%
|
18.8%
|
(1.1%)
|
|
10.7%
|
|
18.4%
|
Average allocated tangible equity (£bn)
|
10.3
|
10.4
|
|
10.1
|
10.1
|
10.1
|
9.8
|
|
9.6
|
|
9.4
|
Cost: income ratio
|
60%
|
56%
|
|
63%
|
55%
|
53%
|
79%
|
|
66%
|
|
54%
|
Loan loss rate (bps)2
|
47
|
40
|
|
61
|
24
|
45
|
43
|
|
39
|
|
43
|
Net interest margin
|
3.05%
|
3.18%
|
|
3.20%
|
3.22%
|
3.22%
|
3.27%
|
|
3.32%
|
|
3.28%
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct3
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
|
£m
|
Profit before tax
|
518
|
588
|
|
405
|
794
|
659
|
581
|
|
505
|
|
672
|
Attributable profit
|
358
|
424
|
|
253
|
558
|
474
|
385
|
|
295
|
|
440
|
Return on average allocated tangible equity
|
13.9%
|
16.4%
|
|
10.1%
|
22.0%
|
18.8%
|
15.7%
|
|
12.3%
|
|
18.7%
|
Cost: income ratio
|
58%
|
56%
|
|
62%
|
52%
|
53%
|
56%
|
|
63%
|
|
53%
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact earnings per share or return on average tangible
shareholders’ equity. Further detail can be found in Note 1,
Basis of preparation on pages 55 to 56.
|
2
|
Prior to Q118 comparatives calculated based on gross loans and
advances at amortised cost before the balance sheet presentation
change and IAS 39 impairment charge.
|
3
|
Refer to pages 84 to 93 for further information and calculations of
performance measures excluding litigation and conduct.
|
Analysis of Barclays UK
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Analysis of total income
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Personal Banking
|
946
|
964
|
|
998
|
1,021
|
1,015
|
972
|
|
1,116
|
1,022
|
Barclaycard Consumer UK
|
497
|
490
|
|
522
|
551
|
504
|
527
|
|
445
|
539
|
Business Banking
|
328
|
323
|
|
343
|
324
|
317
|
289
|
|
309
|
291
|
Total income
|
1,771
|
1,777
|
|
1,863
|
1,896
|
1,836
|
1,788
|
|
1,870
|
1,852
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of credit impairment (charges)/releases and other
provisions
|
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
(36)
|
(52)
|
|
(44)
|
(8)
|
(49)
|
(72)
|
|
(56)
|
(57)
|
Barclaycard Consumer UK
|
(175)
|
(140)
|
|
(250)
|
(88)
|
(139)
|
(113)
|
|
(124)
|
(145)
|
Business Banking
|
(19)
|
1
|
|
(2)
|
(19)
|
(26)
|
(16)
|
|
(4)
|
1
|
Total credit impairment charges and other provisions
|
(230)
|
(191)
|
|
(296)
|
(115)
|
(214)
|
(201)
|
|
(184)
|
(201)
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Personal Banking
|
147.3
|
145.9
|
|
146.0
|
145.4
|
143.6
|
142.1
|
|
141.3
|
140.4
|
Barclaycard Consumer UK
|
15.1
|
15.0
|
|
15.3
|
15.3
|
15.2
|
15.2
|
|
16.4
|
16.3
|
Business Banking
|
26.7
|
26.6
|
|
26.3
|
26.0
|
26.5
|
27.0
|
|
26.1
|
25.5
|
Total loans and advances to customers at amortised
cost
|
189.1
|
187.5
|
|
187.6
|
186.7
|
185.3
|
184.3
|
|
183.8
|
182.2
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
|
|
|
|
|
|
|
Personal Banking
|
156.3
|
154.1
|
|
154.0
|
153.4
|
152.9
|
151.9
|
|
153.1
|
152.1
|
Barclaycard Consumer UK
|
-
|
-
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
Business Banking
|
44.6
|
43.2
|
|
43.3
|
42.4
|
41.4
|
40.1
|
|
40.3
|
37.2
|
Total customer deposits at amortised cost
|
200.9
|
197.3
|
|
197.3
|
195.8
|
194.3
|
192.0
|
|
193.4
|
189.3
|
Barclays International
|
|
|
|
|
|
|
|
|||
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Net interest income
|
1,017
|
900
|
|
984
|
965
|
853
|
1,013
|
|
987
|
1,148
|
Net trading income
|
1,016
|
1,144
|
|
837
|
1,103
|
1,094
|
1,416
|
|
935
|
815
|
Net fee, commission and other income
|
1,870
|
1,526
|
|
1,400
|
1,222
|
1,760
|
1,379
|
|
1,397
|
1,352
|
Total income
|
3,903
|
3,570
|
|
3,221
|
3,290
|
3,707
|
3,808
|
|
3,319
|
3,315
|
Credit impairment charges and other provisions
|
(247)
|
(245)
|
|
(354)
|
(143)
|
(68)
|
(93)
|
|
(386)
|
(495)
|
Net operating income
|
3,656
|
3,325
|
|
2,867
|
3,147
|
3,639
|
3,715
|
|
2,933
|
2,820
|
Operating costs
|
(2,435)
|
(2,206)
|
|
(2,441)
|
(2,277)
|
(2,306)
|
(2,300)
|
|
(2,428)
|
(2,182)
|
UK bank levy
|
-
|
-
|
|
(210)
|
-
|
-
|
-
|
|
(265)
|
-
|
Litigation and conduct
|
(11)
|
(19)
|
|
(33)
|
(32)
|
(47)
|
(15)
|
|
(255)
|
(5)
|
Total operating expenses
|
(2,446)
|
(2,225)
|
|
(2,684)
|
(2,309)
|
(2,353)
|
(2,315)
|
|
(2,948)
|
(2,187)
|
Other net income
|
13
|
18
|
|
32
|
12
|
11
|
13
|
|
21
|
19
|
Profit before tax
|
1,223
|
1,118
|
|
215
|
850
|
1,297
|
1,413
|
|
6
|
652
|
Attributable profit/(loss)1
|
832
|
788
|
|
(21)
|
687
|
926
|
1,007
|
|
(1,134)
|
391
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
134.8
|
130.9
|
|
127.2
|
132.4
|
125.5
|
117.5
|
|
126.8
|
134.4
|
Trading portfolio assets
|
120.0
|
117.2
|
|
104.0
|
124.6
|
116.5
|
114.9
|
|
113.0
|
91.2
|
Derivative financial instrument assets
|
243.8
|
217.3
|
|
222.1
|
214.8
|
228.2
|
214.1
|
|
236.2
|
242.8
|
Financial assets at fair value through the income
statement
|
154.7
|
153.5
|
|
144.7
|
147.8
|
141.2
|
150.6
|
|
104.1
|
103.7
|
Cash collateral and settlement balances
|
101.3
|
97.8
|
|
74.3
|
94.3
|
91.5
|
82.6
|
|
71.9
|
86.3
|
Other assets
|
196.8
|
202.3
|
|
189.8
|
186.3
|
183.6
|
186.9
|
|
204.1
|
208.7
|
Total assets
|
951.4
|
919.0
|
|
862.1
|
900.2
|
886.5
|
866.6
|
|
856.1
|
867.1
|
Deposits at amortised cost
|
212.0
|
215.5
|
|
197.2
|
200.3
|
191.0
|
167.2
|
|
187.3
|
191.9
|
Derivative financial instrument liabilities
|
243.0
|
213.5
|
|
219.6
|
213.7
|
224.9
|
210.8
|
|
237.8
|
242.9
|
Loan: deposit ratio
|
64%
|
61%
|
|
65%
|
66%
|
66%
|
70%
|
|
68%
|
70%
|
Risk weighted assets
|
214.8
|
216.1
|
|
210.7
|
214.6
|
218.0
|
214.2
|
|
210.3
|
218.2
|
Period end allocated tangible equity
|
30.2
|
30.6
|
|
29.9
|
30.2
|
30.5
|
30.0
|
|
27.5
|
28.0
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
10.7%
|
10.4%
|
|
(0.3%)
|
8.8%
|
11.8%
|
13.4%
|
|
(15.9%)
|
5.4%
|
Average allocated tangible equity (£bn)
|
31.1
|
30.5
|
|
31.3
|
31.1
|
31.4
|
30.1
|
|
28.5
|
28.9
|
Cost: income ratio
|
63%
|
62%
|
|
83%
|
70%
|
63%
|
61%
|
|
89%
|
66%
|
Loan loss rate (bps)2
|
72
|
73
|
|
107
|
41
|
22
|
31
|
|
76
|
88
|
Net
interest margin
|
3.91%
|
3.99%
|
|
3.98%
|
3.87%
|
4.03%
|
4.57%
|
|
4.31%
|
4.21%
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct3
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Profit before tax
|
1,234
|
1,137
|
|
248
|
882
|
1,344
|
1,428
|
|
261
|
657
|
Attributable profit/(loss)
|
840
|
804
|
|
13
|
713
|
960
|
1,019
|
|
(884)
|
395
|
Return on average allocated tangible equity
|
10.8%
|
10.6%
|
|
0.2%
|
9.2%
|
12.2%
|
13.6%
|
|
(12.4%)
|
5.5%
|
Cost: income ratio
|
62%
|
62%
|
|
82%
|
69%
|
62%
|
60%
|
|
81%
|
66%
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact earnings per share or return on average tangible
shareholders’ equity. Further detail can be found in Note 1,
Basis of preparation on pages 55 to 56.
|
2
|
Prior to Q118 comparatives calculated based on gross loans and
advances at amortised cost before the balance sheet presentation
change and IAS 39 impairment charge.
|
3
|
Refer to pages 84 to 93 for further information and calculations of
performance measures excluding litigation and conduct.
|
Analysis of Barclays International
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
FICC
|
920
|
902
|
|
570
|
688
|
736
|
869
|
|
607
|
627
|
Equities
|
517
|
467
|
|
375
|
471
|
601
|
590
|
|
362
|
350
|
Markets
|
1,437
|
1,369
|
|
945
|
1,159
|
1,337
|
1,459
|
|
969
|
977
|
Banking fees
|
698
|
569
|
|
625
|
519
|
704
|
683
|
|
605
|
607
|
Corporate lending
|
216
|
152
|
|
243
|
197
|
198
|
240
|
|
269
|
277
|
Transaction banking
|
444
|
415
|
|
412
|
416
|
385
|
414
|
|
408
|
419
|
Corporate
|
660
|
567
|
|
655
|
613
|
583
|
654
|
|
677
|
696
|
Other
|
-
|
-
|
|
(74)
|
(56)
|
(44)
|
3
|
|
1
|
-
|
Total income
|
2,795
|
2,505
|
|
2,151
|
2,235
|
2,580
|
2,799
|
|
2,252
|
2,280
|
Credit impairment (charges)/releases and other
provisions
|
(44)
|
(52)
|
|
(35)
|
3
|
23
|
159
|
|
(127)
|
(36)
|
Net operating income
|
2,751
|
2,453
|
|
2,116
|
2,238
|
2,603
|
2,958
|
|
2,125
|
2,244
|
Operating costs
|
(1,860)
|
(1,619)
|
|
(1,835)
|
(1,712)
|
(1,773)
|
(1,773)
|
|
(1,885)
|
(1,656)
|
UK bank levy
|
-
|
-
|
|
(188)
|
-
|
-
|
-
|
|
(244)
|
-
|
Litigation and conduct
|
(7)
|
(19)
|
|
(23)
|
(32)
|
-
|
(13)
|
|
(255)
|
(5)
|
Total operating expenses
|
(1,867)
|
(1,638)
|
|
(2,046)
|
(1,744)
|
(1,773)
|
(1,786)
|
|
(2,384)
|
(1,661)
|
Other net income
|
3
|
12
|
|
15
|
4
|
5
|
3
|
|
7
|
10
|
Profit/(loss) before tax
|
887
|
827
|
|
85
|
498
|
835
|
1,175
|
|
(252)
|
593
|
Attributable profit/(loss)1
|
596
|
582
|
|
(84)
|
431
|
600
|
834
|
|
(1,227)
|
368
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
92.1
|
90.6
|
|
86.4
|
93.3
|
87.8
|
81.3
|
|
88.2
|
95.4
|
Trading portfolio assets
|
119.9
|
117.2
|
|
104.0
|
124.5
|
116.5
|
114.9
|
|
112.9
|
91.1
|
Derivative financial instruments assets
|
243.7
|
217.3
|
|
222.1
|
214.8
|
228.1
|
214.2
|
|
236.1
|
242.7
|
Financial assets at fair value through the income
statement
|
154.1
|
152.9
|
|
144.2
|
147.3
|
140.7
|
150.2
|
|
103.8
|
103.4
|
Cash collateral and settlement balances
|
100.4
|
96.9
|
|
73.4
|
93.3
|
90.6
|
81.1
|
|
71.9
|
86.3
|
Other assets
|
168.1
|
163.2
|
|
160.4
|
153.8
|
151.6
|
159.8
|
|
175.8
|
179.9
|
Total assets
|
878.3
|
838.1
|
|
790.5
|
827.0
|
815.3
|
801.5
|
|
788.7
|
798.8
|
Deposits at amortised cost
|
145.4
|
151.4
|
|
136.3
|
137.6
|
130.3
|
107.6
|
|
128.0
|
133.4
|
Derivative financial instrument liabilities
|
242.9
|
213.5
|
|
219.6
|
213.7
|
224.9
|
210.9
|
|
237.7
|
242.8
|
Risk weighted assets
|
175.9
|
176.6
|
|
170.9
|
175.9
|
180.4
|
181.3
|
|
176.2
|
185.2
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
9.2%
|
9.3%
|
|
(1.3%)
|
6.6%
|
9.1%
|
13.0%
|
|
(20.2%)
|
5.9%
|
Average allocated tangible equity (£bn)
|
25.8
|
25.1
|
|
26.0
|
25.9
|
26.4
|
25.6
|
|
24.3
|
24.8
|
Cost: income ratio
|
67%
|
65%
|
|
95%
|
78%
|
69%
|
64%
|
|
106%
|
73%
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Profit before tax
|
894
|
846
|
|
108
|
530
|
835
|
1,188
|
|
3
|
598
|
Attributable profit/(loss)
|
601
|
598
|
|
(57)
|
456
|
600
|
844
|
|
(977)
|
372
|
Return on average allocated tangible equity
|
9.3%
|
9.5%
|
|
(0.9%)
|
7.0%
|
9.1%
|
13.2%
|
|
(16.1%)
|
6.0%
|
Cost: income ratio
|
67%
|
65%
|
|
94%
|
77%
|
69%
|
63%
|
|
95%
|
73%
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact earnings per share or return on average tangible
shareholders’ equity. Further detail can be found in Note 1,
Basis of preparation on pages 55 to 56.
|
2
|
Refer to pages 84 to 93 for further information and calculations of
performance measures excluding litigation and conduct.
|
Analysis of Barclays International
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
Consumer, Cards and Payments
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Total income
|
1,108
|
1,065
|
|
1,070
|
1,055
|
1,127
|
1,009
|
|
1,067
|
1,035
|
Credit impairment charges and other provisions
|
(203)
|
(193)
|
|
(319)
|
(146)
|
(91)
|
(252)
|
|
(259)
|
(459)
|
Net operating income
|
905
|
872
|
|
751
|
909
|
1,036
|
757
|
|
808
|
576
|
Operating costs
|
(575)
|
(587)
|
|
(606)
|
(565)
|
(533)
|
(527)
|
|
(543)
|
(526)
|
UK bank levy
|
-
|
-
|
|
(22)
|
-
|
-
|
-
|
|
(21)
|
-
|
Litigation and conduct
|
(4)
|
-
|
|
(10)
|
-
|
(47)
|
(2)
|
|
-
|
-
|
Total operating expenses
|
(579)
|
(587)
|
|
(638)
|
(565)
|
(580)
|
(529)
|
|
(564)
|
(526)
|
Other net income
|
10
|
6
|
|
17
|
8
|
6
|
10
|
|
14
|
9
|
Profit before tax
|
336
|
291
|
|
130
|
352
|
462
|
238
|
|
258
|
59
|
Attributable profit1
|
236
|
206
|
|
63
|
256
|
326
|
173
|
|
93
|
23
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
42.7
|
40.3
|
|
40.8
|
39.1
|
37.7
|
36.2
|
|
38.6
|
39.0
|
Total assets
|
73.1
|
80.9
|
|
71.6
|
73.2
|
71.2
|
65.1
|
|
67.4
|
68.3
|
Deposits at amortised cost
|
66.6
|
64.1
|
|
60.9
|
62.7
|
60.7
|
59.6
|
|
59.3
|
58.5
|
Risk weighted assets
|
38.9
|
39.5
|
|
39.8
|
38.7
|
37.6
|
32.9
|
|
34.1
|
33.0
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
17.8%
|
15.4%
|
|
4.8%
|
19.8%
|
26.2%
|
15.6%
|
|
8.9%
|
2.2%
|
Average allocated tangible equity (£bn)
|
5.3
|
5.4
|
|
5.3
|
5.2
|
5.0
|
4.5
|
|
4.2
|
4.2
|
Cost: income ratio
|
52%
|
55%
|
|
60%
|
54%
|
51%
|
52%
|
|
53%
|
51%
|
Loan loss rate (bps)2
|
180
|
182
|
|
290
|
138
|
90
|
263
|
|
255
|
446
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct3
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Profit before tax
|
340
|
291
|
|
140
|
352
|
509
|
240
|
|
258
|
59
|
Attributable profit
|
239
|
206
|
|
70
|
257
|
360
|
175
|
|
93
|
23
|
Return on average allocated tangible equity
|
18.0%
|
15.4%
|
|
5.4%
|
19.9%
|
28.9%
|
15.7%
|
|
9.0%
|
2.2%
|
Cost:income ratio
|
52%
|
55%
|
|
59%
|
54%
|
47%
|
52%
|
|
53%
|
51%
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact earnings per share or return on average tangible
shareholders’ equity. Further detail can be found in Note 1,
Basis of preparation on pages 55 to 56.
|
2
|
Prior to Q118 comparatives calculated based on gross loans and
advances at amortised cost before the balance sheet presentation
change and IAS 39 impairment charge.
|
3
|
Refer to pages 84 to 93 for further information and calculations of
performance measures excluding litigation and conduct.
|
Head Office
|
|
|
|
|
|
|
|
|
|
|
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Net interest income
|
(95)
|
(111)
|
|
(201)
|
(106)
|
(156)
|
(318)
|
|
(254)
|
(174)
|
Net fee, commission and other income
|
(41)
|
16
|
|
190
|
49
|
189
|
80
|
|
87
|
180
|
Total income
|
(136)
|
(95)
|
|
(11)
|
(57)
|
33
|
(238)
|
|
(167)
|
6
|
Credit impairment (charges)/releases and other
provisions
|
(3)
|
(12)
|
|
7
|
4
|
(1)
|
6
|
|
(3)
|
(13)
|
Net operating (expenses)/income
|
(139)
|
(107)
|
|
(4)
|
(53)
|
32
|
(232)
|
|
(170)
|
(7)
|
Operating costs
|
(44)
|
(52)
|
|
(69)
|
(64)
|
(36)
|
(59)
|
|
(76)
|
(112)
|
UK bank levy
|
-
|
-
|
|
(13)
|
-
|
-
|
-
|
|
(41)
|
-
|
GMP charge
|
-
|
-
|
|
(140)
|
-
|
-
|
-
|
|
-
|
-
|
Litigation and conduct
|
(1)
|
(39)
|
|
(12)
|
(19)
|
(31)
|
(1,535)
|
|
(75)
|
(65)
|
Total operating expenses
|
(45)
|
(91)
|
|
(234)
|
(83)
|
(67)
|
(1,594)
|
|
(192)
|
(177)
|
Other net income/(expenses)
|
15
|
(22)
|
|
7
|
7
|
(23)
|
7
|
|
(3)
|
(22)
|
Loss before tax
|
(169)
|
(220)
|
|
(231)
|
(129)
|
(58)
|
(1,819)
|
|
(365)
|
(206)
|
Attributable loss1
|
(126)
|
(172)
|
|
(234)
|
(147)
|
(120)
|
(1,699)
|
|
(369)
|
(197)
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Total assets
|
22.4
|
21.4
|
|
21.5
|
18.6
|
17.2
|
40.4
|
|
39.7
|
51.7
|
Risk weighted assets
|
28.1
|
27.0
|
|
26.0
|
26.8
|
26.3
|
31.2
|
|
31.8
|
36.1
|
Period end allocated tangible equity
|
7.0
|
4.5
|
|
4.9
|
4.2
|
3.6
|
3.0
|
|
10.0
|
10.4
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
4.8
|
4.3
|
|
2.9
|
3.4
|
2.0
|
4.3
|
|
10.0
|
10.5
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Loss before tax
|
(168)
|
(181)
|
|
(219)
|
(110)
|
(27)
|
(284)
|
|
(290)
|
(141)
|
Attributable loss
|
(124)
|
(144)
|
|
(218)
|
(136)
|
(96)
|
(192)
|
|
(305)
|
(132)
|
1
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously recorded in
retained earnings. Comparatives have been restated. This change
does not impact earnings per share or return on average tangible
shareholders’ equity. Further detail can be found in Note 1,
Basis of preparation on pages 55 to 56.
|
2
|
Refer to pages 84 to 93 for further information and calculations of
performance measures excluding litigation and conduct.
|
Margins and balances
|
|
|
|
|
|
|
|
Half year ended 30.06.19
|
Half year ended 30.06.181
|
||||
|
Net interest income
|
Average customer assets
|
Net interest margin
|
Net interest income
|
Average customer assets
|
Net interest margin
|
|
£m
|
£m
|
%
|
£m
|
£m
|
%
|
Barclays UK
|
2,907
|
188,377
|
3.11
|
2,986
|
185,666
|
3.24
|
Barclays International2
|
1,947
|
99,478
|
3.95
|
2,027
|
95,170
|
4.30
|
Total Barclays UK and Barclays International
|
4,854
|
287,855
|
3.40
|
5,013
|
280,836
|
3.60
|
Other3
|
(236)
|
|
|
(635)
|
|
|
Total Barclays Group4
|
4,618
|
|
|
4,378
|
|
|
1
|
The Group’s treasury results are reported directly within
Barclays UK and Barclays International from Q218 following
ring-fencing, resulting in gains and losses made on certain
activities being
recognised as Other income, rather than in Net interest
income.
|
2
|
Barclays International margins include interest earning lending
balances within the investment banking business.
|
3
|
Other includes Head Office and non-lending related investment
banking businesses not included in Barclays International
margins.
|
4
|
The Group combined product and equity structural hedge notional as
at 30 June 2019 was £172bn, with an average duration of 2.5 to
3 years. Group net interest income includes gross
structural hedge contributions of £0.9bn (H118: £0.9bn)
and net structural hedge contributions of £0.2bn (H118:
£0.4bn). Gross structural hedge contributions represent the
absolute level
of interest earned from the fixed receipts on the basket of swaps
in the structural hedge, while the net structural hedge
contributions represent the net interest earned on the
difference
between the structural hedge rate and prevailing floating
rates.
|
Quarterly analysis for Barclays UK and Barclays
International
|
Net interest income
|
Average customer assets
|
Net interest margin
|
Three months ended 30.06.19
|
£m
|
£m
|
%
|
Barclays UK
|
1,438
|
189,172
|
3.05
|
Barclays International1
|
980
|
100,645
|
3.91
|
Total Barclays UK and Barclays International
|
2,418
|
289,817
|
3.35
|
|
|
|
|
Three months ended 31.03.19
|
|
|
|
Barclays UK
|
1,469
|
187,570
|
3.18
|
Barclays International1
|
967
|
98,313
|
3.99
|
Total Barclays UK and Barclays International
|
2,436
|
285,883
|
3.46
|
|
|
|
|
Three months ended 31.12.18
|
|
|
|
Barclays UK
|
1,513
|
187,813
|
3.20
|
Barclays International1
|
994
|
99,137
|
3.98
|
Total Barclays UK and Barclays International
|
2,507
|
286,950
|
3.47
|
|
|
|
|
Three months ended 30.09.18
|
|
|
|
Barclays UK
|
1,529
|
188,239
|
3.22
|
Barclays International1
|
945
|
96,785
|
3.87
|
Total Barclays UK and Barclays International
|
2,474
|
285,024
|
3.44
|
|
|
|
|
Three months ended 30.06.18
|
|
|
|
Barclays UK
|
1,493
|
186,053
|
3.22
|
Barclays International1
|
962
|
95,728
|
4.03
|
Total Barclays UK and Barclays International
|
2,455
|
281,781
|
3.49
|
1
|
Barclays International margins include interest earning lending
balances within the investment banking business.
|
|
Gross exposure
|
|
Impairment allowance
|
Net exposure
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
As at 30.06.19
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
135,413
|
26,319
|
2,816
|
164,548
|
|
180
|
1,395
|
1,043
|
2,618
|
161,930
|
Barclays International
|
28,498
|
4,444
|
1,855
|
34,797
|
|
344
|
803
|
1,312
|
2,459
|
32,338
|
Head Office
|
6,121
|
611
|
897
|
7,629
|
|
8
|
46
|
314
|
368
|
7,261
|
Total Barclays Group retail
|
170,032
|
31,374
|
5,568
|
206,974
|
|
532
|
2,244
|
2,669
|
5,445
|
201,529
|
Barclays UK
|
27,640
|
3,775
|
1,213
|
32,628
|
|
14
|
50
|
115
|
179
|
32,449
|
Barclays International
|
91,954
|
9,826
|
1,592
|
103,372
|
|
146
|
257
|
465
|
868
|
102,504
|
Head Office
|
2,834
|
-
|
40
|
2,874
|
|
-
|
-
|
37
|
37
|
2,837
|
Total Barclays Group wholesale
|
122,428
|
13,601
|
2,845
|
138,874
|
|
160
|
307
|
617
|
1,084
|
137,790
|
Total loans and advances at amortised cost
|
292,460
|
44,975
|
8,413
|
345,848
|
|
692
|
2,551
|
3,286
|
6,529
|
339,319
|
Off-balance sheet loan commitments and financial guarantee
contracts1
|
321,028
|
20,661
|
503
|
342,192
|
|
104
|
161
|
32
|
297
|
341,895
|
Total2
|
613,488
|
65,636
|
8,916
|
688,040
|
|
796
|
2,712
|
3,318
|
6,826
|
681,214
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 30.06.19
|
|
Half year ended 30.06.19
|
|
||||||
|
Coverage ratio
|
|
Loan impairment charge and loan loss
rate3
|
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Loan impairment charge
|
Loan loss rate
|
|
||
|
%
|
%
|
%
|
%
|
|
£m
|
bps
|
|
||
Barclays UK
|
0.1
|
5.3
|
37.0
|
1.6
|
|
|
404
|
|
50
|
|
Barclays International
|
1.2
|
18.1
|
70.7
|
7.1
|
|
|
383
|
|
222
|
|
Head Office
|
0.1
|
7.5
|
35.0
|
4.8
|
|
|
15
|
|
40
|
|
Total Barclays Group retail
|
0.3
|
7.2
|
47.9
|
2.6
|
|
|
802
|
|
78
|
|
Barclays UK
|
0.1
|
1.3
|
9.5
|
0.5
|
|
|
8
|
|
5
|
|
Barclays International
|
0.2
|
2.6
|
29.2
|
0.8
|
|
|
82
|
|
16
|
|
Head Office
|
-
|
-
|
92.5
|
1.3
|
|
|
-
|
|
-
|
|
Total Barclays Group wholesale
|
0.1
|
2.3
|
21.7
|
0.8
|
|
|
90
|
|
13
|
|
Total loans and advances at amortised cost
|
0.2
|
5.7
|
39.1
|
1.9
|
|
|
892
|
|
52
|
|
Off-balance sheet loan commitments and financial guarantee
contracts1
|
-
|
0.8
|
6.4
|
0.1
|
|
|
30
|
|
|
|
Other financial assets subject to impairment2
|
|
|
|
|
|
|
6
|
|
|
|
Total
|
0.1
|
4.1
|
37.2
|
1.0
|
|
|
928
|
|
|
|
1
|
Excludes loan commitments and
financial guarantees of £15.5bn carried at fair
value.
|
2
|
Other financial assets subject to impairment not included in the
table above include cash collateral and settlement balances,
financial assets at fair value through other comprehensive income
and other assets. These have a total gross exposure of
£178.7bn and impairment allowance of £22m. This comprises
£14m Expected Credit Loss (ECL) on £178.2bn stage 1
assets, £3m on £0.5bn stage 2 fair value through other
comprehensive income assets and £5m on £5m stage 3 other
assets.
|
3
|
H119 loan impairment charge represents six months of impairment
charge, annualised to calculate the loan loss rate. The loan loss
rate for H119 is 54bps after applying the total impairment charge
of £928m.
|
|
Gross exposure
|
|
Impairment allowance
|
Net exposure
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
As at 31.12.18
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
134,911
|
25,279
|
3,040
|
163,230
|
|
183
|
1,389
|
1,152
|
2,724
|
160,506
|
Barclays International
|
26,714
|
4,634
|
1,830
|
33,178
|
|
352
|
965
|
1,315
|
2,632
|
30,546
|
Head Office
|
6,510
|
636
|
938
|
8,084
|
|
9
|
47
|
306
|
362
|
7,722
|
Total Barclays Group retail
|
168,135
|
30,549
|
5,808
|
204,492
|
|
544
|
2,401
|
2,773
|
5,718
|
198,774
|
Barclays UK
|
22,824
|
4,144
|
1,272
|
28,240
|
|
16
|
70
|
117
|
203
|
28,037
|
Barclays International
|
87,344
|
8,754
|
1,382
|
97,480
|
|
128
|
244
|
439
|
811
|
96,669
|
Head Office
|
2,923
|
-
|
41
|
2,964
|
|
-
|
-
|
38
|
38
|
2,926
|
Total Barclays Group wholesale
|
113,091
|
12,898
|
2,695
|
128,684
|
|
144
|
314
|
594
|
1,052
|
127,632
|
Total loans and advances at amortised cost
|
281,226
|
43,447
|
8,503
|
333,176
|
|
688
|
2,715
|
3,367
|
6,770
|
326,406
|
Off-balance sheet loan commitments and financial guarantee
contracts1
|
309,989
|
22,126
|
684
|
332,799
|
|
99
|
150
|
22
|
271
|
332,528
|
Total2
|
591,215
|
65,573
|
9,187
|
665,975
|
|
787
|
2,865
|
3,389
|
7,041
|
658,934
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 31.12.18
|
|
Year ended 31.12.18
|
|
||||||
|
Coverage ratio
|
|
Loan impairment charge and loan loss rate
|
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Loan impairment charge
|
Loan loss rate
|
|
||
|
%
|
%
|
%
|
%
|
|
£m
|
|
bps
|
|
|
Barclays UK
|
0.1
|
5.5
|
37.9
|
1.7
|
|
|
830
|
|
51
|
|
Barclays International
|
1.3
|
20.8
|
71.9
|
7.9
|
|
|
844
|
|
254
|
|
Head Office
|
0.1
|
7.4
|
32.6
|
4.5
|
|
|
15
|
|
19
|
|
Total Barclays Group retail
|
0.3
|
7.9
|
47.7
|
2.8
|
|
|
1,689
|
|
83
|
|
Barclays UK
|
0.1
|
1.7
|
9.2
|
0.7
|
|
|
74
|
|
26
|
|
Barclays International
|
0.1
|
2.8
|
31.8
|
0.8
|
|
|
(142)
|
|
-
|
|
Head Office
|
-
|
-
|
92.7
|
1.3
|
|
|
(31)
|
|
-
|
|
Total Barclays Group wholesale
|
0.1
|
2.4
|
22.0
|
0.8
|
|
|
(99)
|
|
-
|
|
Total loans and advances at amortised cost
|
0.2
|
6.2
|
39.6
|
2.0
|
|
|
1,590
|
|
48
|
|
Off-balance sheet loan commitments and financial guarantee
contracts1
|
-
|
0.7
|
3.2
|
0.1
|
|
|
(125)
|
|
|
|
Other financial assets subject to impairment2
|
|
|
|
|
|
|
3
|
|
|
|
Total
|
0.1
|
4.4
|
36.9
|
1.1
|
|
|
1,468
|
|
|
|
1
|
Excludes loan commitments and financial guarantees of £11.7bn
carried at fair value.
|
2
|
Other financial assets subject to impairment not included in the
table above include cash collateral and settlement balances,
financial assets at fair value through other comprehensive income
and other assets. These have a total gross exposure of
£129.9bn and impairment allowance of £12m. This comprises
£10m ECL on £129.3bn stage 1 assets and £2m on
£0.6bn stage 2 fair value through other comprehensive income
assets.
|
|
|
Stage 2
|
|
|
|||
As at 30.06.19
|
Stage 1
|
Not past due
|
<=30 days past due
|
>30 days past due
|
Total
|
Stage 3
|
Total
|
Gross exposure
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Home loans
|
130,559
|
16,640
|
1,636
|
792
|
19,068
|
2,393
|
152,020
|
Credit cards, unsecured loans and other retail lending
|
47,591
|
11,205
|
529
|
460
|
12,194
|
3,574
|
63,359
|
Corporate loans
|
114,310
|
12,033
|
619
|
1,061
|
13,713
|
2,446
|
130,469
|
Total
|
292,460
|
39,878
|
2,784
|
2,313
|
44,975
|
8,413
|
345,848
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Home loans
|
34
|
54
|
15
|
14
|
83
|
360
|
477
|
Credit cards, unsecured loans and other retail lending
|
516
|
1,768
|
158
|
219
|
2,145
|
2,380
|
5,041
|
Corporate loans
|
142
|
296
|
19
|
8
|
323
|
546
|
1,011
|
Total
|
692
|
2,118
|
192
|
241
|
2,551
|
3,286
|
6,529
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Home loans
|
130,525
|
16,586
|
1,621
|
778
|
18,985
|
2,033
|
151,543
|
Credit cards, unsecured loans and other retail lending
|
47,075
|
9,437
|
371
|
241
|
10,049
|
1,194
|
58,318
|
Corporate loans
|
114,168
|
11,737
|
600
|
1,053
|
13,390
|
1,900
|
129,458
|
Total
|
291,768
|
37,760
|
2,592
|
2,072
|
42,424
|
5,127
|
339,319
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Home loans
|
-
|
0.3
|
0.9
|
1.8
|
0.4
|
15.0
|
0.3
|
Credit cards, unsecured loans and other retail lending
|
1.1
|
15.8
|
29.9
|
47.6
|
17.6
|
66.6
|
8.0
|
Corporate loans
|
0.1
|
2.5
|
3.1
|
0.8
|
2.4
|
22.3
|
0.8
|
Total
|
0.2
|
5.3
|
6.9
|
10.4
|
5.7
|
39.1
|
1.9
|
|
|
|
|
|
|
|
|
As at 31.12.18
|
|
|
|
|
|
|
|
Gross exposure
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Home loans
|
130,066
|
15,672
|
1,672
|
862
|
18,206
|
2,476
|
150,748
|
Credit cards, unsecured loans and other retail lending
|
45,785
|
11,262
|
530
|
437
|
12,229
|
3,760
|
61,774
|
Corporate loans
|
105,375
|
12,177
|
360
|
475
|
13,012
|
2,267
|
120,654
|
Total
|
281,226
|
39,111
|
2,562
|
1,774
|
43,447
|
8,503
|
333,176
|
|
|
|
|
|
|
|
|
Impairment allowance
|
|
|
|
|
|
|
|
Home loans
|
31
|
56
|
13
|
13
|
82
|
351
|
464
|
Credit cards, unsecured loans and other retail lending
|
528
|
1,895
|
169
|
240
|
2,304
|
2,511
|
5,343
|
Corporate loans
|
129
|
300
|
16
|
13
|
329
|
505
|
963
|
Total
|
688
|
2,251
|
198
|
266
|
2,715
|
3,367
|
6,770
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Home loans
|
130,035
|
15,616
|
1,659
|
849
|
18,124
|
2,125
|
150,284
|
Credit cards, unsecured loans and other retail lending
|
45,257
|
9,367
|
361
|
197
|
9,925
|
1,249
|
56,431
|
Corporate loans
|
105,246
|
11,877
|
344
|
462
|
12,683
|
1,762
|
119,691
|
Total
|
280,538
|
36,860
|
2,364
|
1,508
|
40,732
|
5,136
|
326,406
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Home loans
|
-
|
0.4
|
0.8
|
1.5
|
0.5
|
14.2
|
0.3
|
Credit cards, unsecured loans and other retail lending
|
1.2
|
16.8
|
31.9
|
54.9
|
18.8
|
66.8
|
8.6
|
Corporate loans
|
0.1
|
2.5
|
4.4
|
2.7
|
2.5
|
22.3
|
0.8
|
Total
|
0.2
|
5.8
|
7.7
|
15.0
|
6.2
|
39.6
|
2.0
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Gross exposure for loans and advances at amortised
cost
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2019
|
281,226
|
43,447
|
8,503
|
333,176
|
Transfers from Stage 1
|
(13,760)
|
13,256
|
504
|
-
|
Transfers from Stage 2
|
9,943
|
(11,468)
|
1,525
|
-
|
Transfers from Stage 3
|
271
|
267
|
(538)
|
-
|
Business activity in the year
|
51,037
|
1,543
|
169
|
52,749
|
Net drawdowns and repayments
|
(8,564)
|
867
|
91
|
(7,606)
|
Final repayments
|
(27,693)
|
(2,937)
|
(605)
|
(31,235)
|
Disposals
|
-
|
-
|
(285)
|
(285)
|
Write-offs1
|
-
|
-
|
(951)
|
(951)
|
As at 30 June 2019
|
292,460
|
44,975
|
8,413
|
345,848
|
|
|
|
|
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Impairment allowance on loans and advances at amortised
cost
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2019
|
688
|
2,715
|
3,367
|
6,770
|
Transfers from Stage 1
|
(91)
|
82
|
9
|
-
|
Transfers from Stage 2
|
507
|
(834)
|
327
|
-
|
Transfers from Stage 3
|
23
|
17
|
(40)
|
-
|
Business activity in the year
|
122
|
77
|
27
|
226
|
Net re-measurement and movement due to exposure and risk parameter
changes
|
(520)
|
563
|
841
|
884
|
Final repayments
|
(37)
|
(69)
|
(74)
|
(180)
|
Disposals
|
-
|
-
|
(220)
|
(220)
|
Write-offs1
|
-
|
-
|
(951)
|
(951)
|
As at 30 June 20192
|
692
|
2,551
|
3,286
|
6,529
|
|
|
|
|
|
Reconciliation of ECL movement to impairment charge/(release) for
the period
|
|
|
|
£m
|
ECL movement excluding assets derecognised due to disposals and
write-offs
|
|
|
|
930
|
Post write-off recoveries1
|
|
|
|
(73)
|
Exchange and other adjustments
|
|
|
|
35
|
Impairment charge on loan commitments and financial
guarantees
|
|
|
|
30
|
Impairment charge on other financial assets2
|
|
|
|
6
|
Income statement charge/(release) for the period
|
|
|
|
928
|
1
|
In H119, gross write-offs amounted to
£951m (H118:
£949m) and post write-off
recoveries amounted to £73m (H118: £68m). Net write-offs represent gross write-offs
less post write-off recoveries and amounted to
£878m (H118:
£881m).
|
2
|
Other financial assets subject to
impairment not included in the table above include cash collateral
and settlement balances, financial assets at fair value through
other comprehensive income and other assets. These have a total
gross exposure of £178.7bn
(December 2018: £129.9bn)
and impairment allowance of £22m (December 2018: £12m). This comprises £14m ECL (December 2018: £10m) on £178.2bn stage 1 assets (December 2018:
£129.3bn),
£3m (December 2018:
£2m) on
£0.5bn stage 2 fair value
through other comprehensive income assets (December 2018:
£0.6bn) and
£5m (December 2018:
£nil) on
£5m stage 3 other assets
(December 2018: £nil).
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Gross exposure for loan commitments and financial
guarantees
|
£m
|
£m
|
£m
|
£m
|
As at 1 January 2019
|
309,989
|
22,126
|
684
|
332,799
|
Net transfers between stages
|
(1,406)
|
969
|
437
|
-
|
Business activity in the year
|
44,908
|
1,579
|
12
|
46,499
|
Net drawdowns and repayments
|
(3,536)
|
229
|
(342)
|
(3,649)
|
Final repayments
|
(28,927)
|
(4,242)
|
(288)
|
(33,457)
|
As at 30 June 2019
|
321,028
|
20,661
|
503
|
342,192
|
|
|
|
|
|
Impairment allowance on loan commitments and financial
guarantees
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
£m
|
£m
|
£m
|
£m
|
|
As at 1 January 2019
|
99
|
150
|
22
|
271
|
Net transfers between stages
|
8
|
(6)
|
(2)
|
-
|
Business activity in the year
|
26
|
25
|
7
|
58
|
Net re-measurement and movement due to exposure and risk parameter
changes
|
(14)
|
18
|
6
|
10
|
Final repayments
|
(15)
|
(26)
|
(1)
|
(42)
|
As at 30 June 2019
|
104
|
161
|
32
|
297
|
Scenario probability weighting
|
|
|
|
|
|
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
As at 30.06.19 and 31.12.18
|
%
|
%
|
%
|
%
|
%
|
Scenario probability weighting
|
9
|
24
|
41
|
23
|
3
|
Macroeconomic variables (specific
bases)1
|
|
|
|
|
|
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
As at 30.06.19
|
%
|
%
|
%
|
%
|
%
|
UK GDP2
|
4.5
|
3.1
|
1.7
|
0.3
|
(4.1)
|
UK unemployment3
|
3.4
|
3.9
|
4.3
|
5.7
|
8.8
|
UK HPI4
|
46.4
|
32.6
|
3.2
|
(0.5)
|
(32.1)
|
UK bank rate3
|
0.8
|
0.8
|
1.0
|
2.5
|
4.0
|
US GDP2
|
4.8
|
3.7
|
2.1
|
0.4
|
(3.3)
|
US unemployment3
|
3.0
|
3.4
|
3.7
|
5.2
|
8.4
|
US HPI4
|
36.9
|
30.2
|
4.1
|
-
|
(17.4)
|
US federal funds rate3
|
2.3
|
2.3
|
2.7
|
3.0
|
3.5
|
|
|
|
|
|
|
As at 31.12.18
|
|
|
|
|
|
UK GDP2
|
4.5
|
3.1
|
1.7
|
0.3
|
(4.1)
|
UK unemployment3
|
3.4
|
3.9
|
4.3
|
5.7
|
8.8
|
UK HPI4
|
46.4
|
32.6
|
3.2
|
(0.5)
|
(32.1)
|
UK bank rate3
|
0.8
|
0.8
|
1.0
|
2.5
|
4.0
|
US GDP2
|
4.8
|
3.7
|
2.1
|
0.4
|
(3.3)
|
US unemployment3
|
3.0
|
3.4
|
3.7
|
5.2
|
8.4
|
US HPI4
|
36.9
|
30.2
|
4.1
|
-
|
(17.4)
|
US federal funds rate3
|
2.3
|
2.3
|
2.7
|
3.0
|
3.5
|
|
|
|
|
|
|
As at 30.06.18
|
|
|
|
|
|
UK GDP2
|
4.4
|
3.1
|
1.8
|
(0.3)
|
(4.8)
|
UK unemployment3
|
3.0
|
3.7
|
4.8
|
6.0
|
9.0
|
UK HPI4
|
45.3
|
28.3
|
2.8
|
(3.1)
|
(33.4)
|
UK bank rate3
|
0.5
|
0.5
|
0.9
|
2.5
|
4.0
|
US GDP2
|
4.6
|
3.4
|
2.0
|
(0.3)
|
(4.7)
|
US unemployment3
|
2.4
|
3.1
|
4.2
|
5.6
|
9.0
|
US HPI4
|
35.8
|
28.5
|
4.2
|
(1.8)
|
(19.5)
|
US federal funds rate3
|
1.5
|
1.5
|
1.8
|
2.9
|
3.5
|
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
|
Highest annual growth in Upside scenarios; 5-year average in
Baseline; lowest annual growth in Downside scenarios.
|
3
|
Lowest yearly average in Upside scenarios; 5-year average in
Baseline; highest yearly average in Downside
scenarios.
|
4
|
Cumulative growth (trough to peak) in Upside scenarios; 5-year
average in Baseline; cumulative fall (peak-to-trough) in Downside
scenarios.
|
Macroeconomic variables (5-year
averages)1
|
|
|
|
|
|
|
Upside 2
|
Upside 1
|
Baseline
|
Downside 1
|
Downside 2
|
As at 30.06.19
|
%
|
%
|
%
|
%
|
%
|
UK GDP
|
3.4
|
2.6
|
1.7
|
0.9
|
(0.6)
|
UK unemployment
|
3.7
|
4.0
|
4.3
|
5.1
|
7.9
|
UK HPI
|
7.9
|
5.8
|
3.2
|
0.9
|
(6.4)
|
UK bank rate
|
0.8
|
0.8
|
1.0
|
2.3
|
3.7
|
US GDP
|
3.7
|
3.0
|
2.1
|
1.1
|
(0.5)
|
US unemployment
|
3.1
|
3.5
|
3.7
|
4.7
|
7.4
|
US HPI
|
6.5
|
5.4
|
4.1
|
2.4
|
(2.6)
|
US federal funds rate
|
2.3
|
2.3
|
2.7
|
3.0
|
3.4
|
|
|
|
|
|
|
As at 31.12.18
|
|
|
|
|
|
UK GDP
|
3.4
|
2.6
|
1.7
|
0.9
|
(0.6)
|
UK unemployment
|
3.7
|
4.0
|
4.3
|
5.1
|
7.9
|
UK HPI
|
7.9
|
5.8
|
3.2
|
0.9
|
(6.4)
|
UK bank rate
|
0.8
|
0.8
|
1.0
|
2.3
|
3.7
|
US GDP
|
3.7
|
3.0
|
2.1
|
1.1
|
(0.5)
|
US unemployment
|
3.1
|
3.5
|
3.7
|
4.7
|
7.4
|
US HPI
|
6.5
|
5.4
|
4.1
|
2.4
|
(2.6)
|
US federal funds rate
|
2.3
|
2.3
|
2.7
|
3.0
|
3.4
|
|
|
|
|
|
|
As at 30.06.18
|
|
|
|
|
|
UK GDP
|
3.3
|
2.5
|
1.8
|
0.8
|
(0.8)
|
UK unemployment
|
3.5
|
4.0
|
4.8
|
5.5
|
8.2
|
UK HPI
|
7.8
|
5.1
|
2.8
|
0.2
|
(7.0)
|
UK bank rate
|
0.5
|
0.6
|
0.9
|
2.1
|
3.6
|
US GDP
|
3.5
|
2.7
|
2.0
|
0.9
|
(0.8)
|
US unemployment
|
2.9
|
3.4
|
4.2
|
5.1
|
7.8
|
US HPI
|
6.3
|
5.2
|
4.2
|
2.0
|
(3.1)
|
US federal funds rate
|
1.5
|
1.6
|
1.8
|
2.7
|
3.3
|
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.
|
Home loans principal portfolios
|
|
|
Barclays UK
|
|
|
|
As at
30.06.19
|
As at
31.12.18
|
|
Gross loans and advances (£m)
|
|
|
138,272
|
136,517
|
90 day arrears rate, excluding recovery book (%)
|
|
|
0.1
|
0.1
|
Annualised gross charge-off rate - 180 days past due
(%)
|
|
|
0.2
|
0.3
|
Recovery book proportion of outstanding balances (%)
|
|
|
0.2
|
0.2
|
Recovery book impairment coverage ratio (%)
|
|
|
7.3
|
7.1
|
|
|
|
|
|
Average marked to market LTV
|
|
|
|
|
Balance weighted (%)
|
|
|
50.1
|
48.9
|
Valuation weighted (%)
|
|
|
36.6
|
35.8
|
|
|
|
|
|
New lending
|
|
|
Half year ended 30.06.19
|
Half year ended 30.06.18
|
New home loan completions (£m)
|
|
|
11,097
|
11,496
|
New home loans proportion > 85% LTV (%)
|
|
|
14.3
|
8.9
|
Average LTV on new home loans: balance weighted (%)
|
|
|
67.1
|
64.4
|
Average LTV on new home loans: valuation weighted (%)
|
|
|
58.9
|
56.3
|
Home loans principal portfolios -
distribution of balances by LTV1
|
||||||
|
|
|
|
|
|
|
|
As at 30.06.19
|
As at 31.12.18
|
||||
|
Distribution of balances
|
Distribution of impairment allowance
|
Coverage ratio
|
Distribution of balances
|
Distribution of impairment allowance
|
Coverage ratio
|
Barclays UK
|
%
|
%
|
%
|
%
|
%
|
%
|
<=75%
|
88.9
|
42.2
|
-
|
90.6
|
50.9
|
-
|
>75% and <=90%
|
9.7
|
25.1
|
0.1
|
8.6
|
22.1
|
0.1
|
>90% and <=100%
|
1.3
|
9.8
|
0.4
|
0.7
|
7.7
|
0.5
|
>100%
|
0.1
|
22.9
|
9.5
|
0.1
|
19.3
|
10.8
|
1
|
Portfolio mark to market based on the most updated valuation
including recovery book balances. Updated valuations reflect the
application of the latest HPI available as at 30 June
2019.
|
Principal portfolios
|
Gross exposure
|
30 day arrears rate, excluding recovery book
|
90 day arrears rate, excluding recovery book
|
Annualised gross write-off rate
|
Annualised net write-off rate
|
As at 30.06.19
|
£m
|
%
|
%
|
%
|
%
|
Barclays UK
|
|
|
|
|
|
UK cards
|
16,925
|
1.8
|
0.9
|
2.0
|
1.9
|
UK personal loans
|
6,334
|
2.2
|
1.1
|
3.3
|
3.0
|
Barclays International
|
|
|
|
|
|
US cards
|
22,172
|
2.4
|
1.3
|
4.5
|
4.4
|
Barclays Partner Finance
|
4,277
|
0.9
|
0.3
|
1.5
|
1.5
|
Germany consumer lending
|
3,758
|
1.7
|
0.7
|
1.0
|
0.2
|
|
|
|
|
|
|
As at 31.12.18
|
|
|
|
|
|
Barclays UK
|
|
|
|
|
|
UK cards
|
17,285
|
1.8
|
0.9
|
1.9
|
1.5
|
UK personal loans
|
6,335
|
2.3
|
1.1
|
1.9
|
1.5
|
Barclays International
|
|
|
|
|
|
US cards
|
22,178
|
2.7
|
1.4
|
3.6
|
3.4
|
Barclays Partner Finance
|
4,216
|
1.1
|
0.4
|
1.7
|
1.7
|
Germany consumer lending
|
3,545
|
1.9
|
0.8
|
1.2
|
0.5
|
Management VaR (95%) by asset
class1
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
Half year ended 30.06.19
|
|
Half year ended 31.12.18
|
|
Half year ended 30.06.18
|
||||||
|
Average
|
High2
|
Low2
|
|
Average
|
High2
|
Low2
|
|
Average
|
High2
|
Low2
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Credit risk
|
11
|
14
|
8
|
|
10
|
13
|
8
|
|
11
|
16
|
8
|
Interest rate risk
|
5
|
9
|
3
|
|
8
|
14
|
3
|
|
9
|
19
|
4
|
Equity risk
|
9
|
16
|
5
|
|
7
|
14
|
4
|
|
7
|
12
|
4
|
Basis risk
|
8
|
9
|
6
|
|
7
|
8
|
6
|
|
5
|
8
|
4
|
Spread risk
|
4
|
5
|
3
|
|
6
|
9
|
3
|
|
5
|
9
|
3
|
Foreign exchange risk
|
3
|
5
|
2
|
|
3
|
6
|
2
|
|
3
|
7
|
2
|
Commodity risk
|
1
|
1
|
-
|
|
1
|
1
|
-
|
|
1
|
2
|
-
|
Inflation risk
|
2
|
3
|
2
|
|
3
|
3
|
2
|
|
3
|
4
|
2
|
Diversification effect2
|
(22)
|
n/a
|
n/a
|
|
(24)
|
n/a
|
n/a
|
|
(24)
|
n/a
|
n/a
|
Total management VaR
|
21
|
26
|
17
|
|
21
|
27
|
18
|
|
20
|
26
|
15
|
1
|
Excludes Barclays Africa Group Limited from 23 July
2018.
|
2
|
Diversification effects recognise that forecast losses from
different assets or businesses are unlikely to occur concurrently,
hence the expected aggregate loss is lower than the sum of the
expected losses from each area. Historical correlations between
losses are taken into account in making these assessments. The high
and low VaR figures reported for each category did not necessarily
occur on the same day as the high and low VaR reported as a whole.
Consequently, a diversification effect balance for the high and low
VaR figures would not be meaningful and is therefore omitted from
the above table.
|
Liquidity coverage ratio
|
|
|
|
As at 30.06.19
|
As at 31.12.18
|
|
£bn
|
£bn
|
Eligible liquidity buffer
|
232
|
219
|
Net stress outflows
|
(149)
|
(129)
|
Surplus
|
83
|
90
|
|
|
|
Liquidity coverage ratio
|
156%
|
169%
|
Composition of the Group liquidity pool
|
||||||
|
|
|
|
|
|
|
|
|
As at 30.06.19
|
As at 31.12.18
|
|||
|
|
Liquidity pool
|
Liquidity pool of which CRR LCR
eligible3
|
Liquidity pool
|
||
|
|
Cash
|
Level 1
|
Level 2A
|
||
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Cash and deposits with central
banks1
|
|
160
|
156
|
-
|
-
|
181
|
|
|
|
|
|
|
|
Government bonds2
|
|
|
|
|
|
|
AAA to AA-
|
|
47
|
-
|
41
|
3
|
27
|
A+ to A-
|
|
5
|
-
|
5
|
-
|
1
|
BBB+ to BBB-
|
|
4
|
-
|
4
|
-
|
3
|
Other LCR ineligible government bonds
|
|
-
|
-
|
-
|
-
|
1
|
Total government bonds
|
|
56
|
-
|
50
|
3
|
32
|
|
|
|
|
|
|
|
Other
|
|
|
|
|
|
|
Government guaranteed issuers, PSEs and GSEs
|
|
8
|
-
|
8
|
-
|
6
|
International organisations and MDBs
|
|
7
|
-
|
7
|
-
|
5
|
Covered bonds
|
|
6
|
-
|
5
|
1
|
3
|
Other
|
|
1
|
-
|
1
|
-
|
-
|
Total other
|
|
22
|
-
|
21
|
1
|
14
|
|
|
|
|
|
|
|
Total as at 30 June 2019
|
|
238
|
156
|
71
|
4
|
227
|
Total as at 31 December 2018
|
|
227
|
176
|
40
|
1
|
|
1
|
Of which over 99% (December 2018: over 99%) was placed with the
Bank of England, US Federal Reserve, European Central Bank, Bank of
Japan and Swiss National Bank.
|
2
|
Of which over 77% (December 2018: over 71%) comprised UK, US,
French, German, 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.
|
Deposit funding
|
|
|
|
|
|
|
As at 30.06.19
|
|
As at 31.12.18
|
||
|
Loans and advances at amortised cost
|
Deposits at amortised cost
|
Loan: deposit ratio1
|
|
Loan: deposit ratio1
|
Funding of loans and advances
|
£bn
|
£bn
|
%
|
|
%
|
Barclays UK
|
194
|
201
|
97%
|
|
96%
|
Barclays International
|
135
|
212
|
64%
|
|
65%
|
Head Office
|
10
|
-
|
-
|
|
-
|
Barclays Group
|
339
|
414
|
82%
|
|
83%
|
1
|
The loan: deposit ratio is calculated as loans and advances at
amortised cost divided by deposits at amortised cost.
|
|
As at 30.06.19
|
As at 31.12.18
|
|
|
As at 30.06.19
|
As at 31.12.18
|
Assets
|
£bn
|
£bn
|
|
Liabilities and equity
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
339
|
327
|
|
Deposits at amortised cost
|
414
|
395
|
Group liquidity pool
|
238
|
227
|
|
<1 Year wholesale funding
|
53
|
47
|
|
|
|
|
>1 Year wholesale funding
|
113
|
107
|
Reverse repurchase agreements, trading portfolio assets, cash
collateral and settlement balances
|
356
|
303
|
|
Repurchase agreements, trading portfolio liabilities, cash
collateral and settlement balances
|
304
|
262
|
Derivative financial instruments
|
244
|
223
|
|
Derivative financial instruments
|
243
|
220
|
Other assets1
|
56
|
53
|
|
Other liabilities
|
37
|
38
|
|
|
|
|
Equity
|
69
|
64
|
Total assets
|
1,233
|
1,133
|
|
Total liabilities and equity
|
1,233
|
1,133
|
1
|
Other assets include fair value assets that are not part of reverse
repurchase agreements or trading portfolio assets, and other asset
categories.
|
Maturity profile of wholesale
funding1,2
|
|
|
|
|
|
|
|
||||
|
<1
|
1-3
|
3-6
|
6-12
|
<1
|
1-2
|
2-3
|
3-4
|
4-5
|
>5
|
|
|
month
|
months
|
months
|
months
|
year
|
years
|
years
|
years
|
years
|
years
|
Total
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Barclays PLC (the Parent company)
|
|
|
|
|
|
|
|
|
|
|
|
Senior unsecured (public benchmark)
|
-
|
-
|
1.6
|
0.8
|
2.4
|
2.9
|
3.4
|
4.0
|
8.5
|
13.8
|
35.0
|
Senior unsecured (privately placed)
|
-
|
-
|
-
|
-
|
-
|
0.1
|
0.1
|
0.1
|
0.2
|
0.5
|
1.0
|
Subordinated liabilities
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
8.1
|
8.1
|
Barclays Bank PLC (including
|
|
|
|
|
|
|
|
|
|
|
|
subsidiaries)
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit and commercial paper
|
3.7
|
5.6
|
9.6
|
4.8
|
23.7
|
1.0
|
0.9
|
0.4
|
0.1
|
-
|
26.1
|
Asset backed commercial paper
|
2.8
|
3.2
|
1.0
|
-
|
7.0
|
-
|
-
|
-
|
-
|
-
|
7.0
|
Senior unsecured (public benchmark)
|
-
|
1.2
|
-
|
0.6
|
1.8
|
3.0
|
0.2
|
-
|
1.2
|
0.4
|
6.6
|
Senior unsecured (privately placed)3
|
0.8
|
2.8
|
1.5
|
5.1
|
10.2
|
8.5
|
4.7
|
4.1
|
3.8
|
21.0
|
52.3
|
Asset backed securities
|
0.4
|
0.6
|
-
|
1.0
|
2.0
|
0.1
|
0.5
|
0.7
|
0.9
|
1.7
|
5.9
|
Subordinated liabilities
|
0.2
|
-
|
0.1
|
0.1
|
0.4
|
5.6
|
1.3
|
2.4
|
-
|
1.0
|
10.7
|
Other
|
0.1
|
-
|
-
|
-
|
0.1
|
-
|
-
|
-
|
0.2
|
0.6
|
0.9
|
Barclays Bank UK PLC (including
|
|
|
|
|
|
|
|
|
|
|
|
subsidiaries)
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit and commercial paper
|
0.3
|
0.7
|
0.4
|
0.2
|
1.6
|
-
|
-
|
-
|
-
|
-
|
1.6
|
Covered bonds
|
-
|
-
|
1.8
|
1.0
|
2.8
|
1.0
|
2.3
|
1.8
|
-
|
1.2
|
9.1
|
Asset backed securities
|
0.8
|
-
|
-
|
-
|
0.8
|
0.5
|
-
|
-
|
-
|
-
|
1.3
|
Total as at 30 June 2019
|
9.1
|
14.1
|
16.0
|
13.6
|
52.8
|
22.7
|
13.4
|
13.5
|
14.9
|
48.3
|
165.6
|
Of which secured
|
4.0
|
3.8
|
2.8
|
2.0
|
12.6
|
1.6
|
2.8
|
2.5
|
0.9
|
2.9
|
23.3
|
Of which unsecured
|
5.1
|
10.3
|
13.2
|
11.6
|
40.2
|
21.1
|
10.6
|
11.0
|
14.0
|
45.4
|
142.3
|
|
|
|
|
|
|
|
|
|
|
|
|
Total as at 31 December 2018
|
2.5
|
15.9
|
8.2
|
20.1
|
46.7
|
16.7
|
16.8
|
10.4
|
13.2
|
50.2
|
154.0
|
Of which secured
|
2.0
|
3.7
|
1.1
|
3.6
|
10.4
|
2.7
|
1.2
|
2.6
|
1.9
|
3.7
|
22.5
|
Of which unsecured
|
0.5
|
12.2
|
7.1
|
16.5
|
36.3
|
14.0
|
15.6
|
7.8
|
11.3
|
46.5
|
131.5
|
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 £43.9bn, of which £7.3bn
matures within one year.
|
Barclays Bank PLC
|
Standard & Poor's
|
Moody's
|
Fitch
|
Long-term
|
A / Stable
|
A2 / Positive
|
A+ / RWN1
|
Short-term
|
A-1
|
P-1
|
F1
|
|
|
|
|
Barclays Bank UK PLC
|
|
|
|
Long-term
|
A / Stable
|
A1 / Stable
|
A+ / RWN1
|
Short-term
|
A-1
|
P-1
|
F1
|
|
|
|
|
Barclays PLC
|
|
|
|
Long-term
|
BBB / Stable
|
Baa3 / Positive
|
A / RWN1
|
Short-term
|
A-2
|
P-3
|
F1
|
1
|
Rating Watch Negative.
|
Capital ratios1,2,3
|
As at
|
As at
|
As at
|
30.06.19
|
31.03.19
|
31.12.18
|
|
CET1
|
13.4%
|
13.0%
|
13.2%
|
Tier 1 (T1)
|
17.4%
|
17.1%
|
17.0%
|
Total regulatory capital
|
21.4%
|
20.8%
|
20.7%
|
|
|
|
|
Capital resources
|
£bn
|
£bn
|
£bn
|
Total equity excluding non-controlling interests per the balance
sheet
|
67.6
|
64.7
|
62.6
|
Less: other equity instruments (recognised as AT1
capital)
|
(12.1)
|
(11.1)
|
(9.6)
|
Adjustment to retained earnings for foreseeable
dividends
|
(0.8)
|
(1.0)
|
(0.7)
|
|
|
|
|
Other regulatory adjustments and deductions
|
|
|
|
Additional value adjustments (PVA)
|
(1.8)
|
(1.7)
|
(1.7)
|
Goodwill and intangible assets
|
(8.0)
|
(7.9)
|
(8.0)
|
Deferred tax assets that rely on future profitability excluding
temporary differences
|
(0.4)
|
(0.4)
|
(0.5)
|
Fair value reserves related to gains or losses on cash flow
hedges
|
(1.2)
|
(1.0)
|
(0.7)
|
Gains or losses on liabilities at fair value resulting from own
credit
|
(0.1)
|
(0.2)
|
(0.1)
|
Defined benefit pension fund assets
|
(1.4)
|
(0.9)
|
(1.3)
|
Direct and indirect holdings by an institution of own CET1
instruments
|
(0.1)
|
(0.1)
|
(0.1)
|
Adjustment under IFRS 9 transitional arrangements
|
1.2
|
1.2
|
1.3
|
CET1 capital
|
42.9
|
41.4
|
41.1
|
|
|
|
|
AT1 capital
|
|
|
|
Capital instruments and related share premium accounts
|
12.1
|
11.1
|
9.6
|
Qualifying AT1 capital (including minority interests) issued by
subsidiaries
|
0.7
|
2.3
|
2.4
|
Other regulatory adjustments and deductions
|
(0.1)
|
(0.1)
|
(0.1)
|
AT1 capital
|
12.7
|
13.3
|
11.9
|
|
|
|
|
T1 capital
|
55.6
|
54.7
|
53.0
|
|
|
|
|
T2 capital
|
|
|
|
Capital instruments and related share premium accounts
|
8.0
|
6.5
|
6.6
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries
|
5.0
|
5.5
|
5.3
|
Credit risk adjustments (excess of impairment over expected
losses)
|
-
|
0.1
|
-
|
Other regulatory adjustments and deductions
|
(0.3)
|
(0.3)
|
(0.3)
|
Total regulatory capital
|
68.3
|
66.6
|
64.6
|
|
|
|
|
Total RWAs
|
319.1
|
319.7
|
311.9
|
1
|
CET1, T1 and T2 capital, and RWAs are calculated applying the
transitional arrangements of the CRR as amended by CRR II
applicable as at the reporting date. This includes IFRS 9
transitional arrangements and the grandfathering of CRR and CRR II
non-compliant capital instruments.
|
2
|
The fully loaded CET1 ratio, as is relevant for assessing against
the conversion trigger in Barclays PLC AT1 securities, was 13.1%,
with £41.7bn of CET1 capital and £319.0bn of RWAs
calculated without applying the transitional arrangements of the
CRR as amended by CRR II applicable as at the reporting
date.
|
3
|
The Barclays PLC CET1 ratio, as is relevant for assessing against
the conversion trigger in Barclays Bank PLC T2 Contingent Capital
Notes, was 13.4%. For this calculation CET1 capital and RWAs are
calculated applying the transitional arrangements under the CRR,
including the IFRS 9 transitional arrangements. The benefit of the
Financial Services Authority (FSA) October 2012 interpretation of
the transitional provisions, relating to the implementation of CRD
IV, expired in December 2017.
|
Movement in CET1 capital
|
Three months
|
Six months
|
ended
|
ended
|
|
30.06.19
|
30.06.19
|
|
£bn
|
£bn
|
|
Opening CET1 capital
|
41.4
|
41.1
|
|
|
|
Profit for the period attributable to equity holders
|
1.2
|
2.4
|
Dividends paid and foreseen
|
(0.7)
|
(1.2)
|
Increase in retained regulatory capital generated from
earnings
|
0.5
|
1.3
|
|
|
|
Net impact of share schemes
|
0.3
|
-
|
Fair value through other comprehensive income reserve
|
0.4
|
0.5
|
Currency translation reserve
|
0.6
|
0.2
|
Increase in other qualifying reserves
|
1.2
|
0.7
|
|
|
|
Pension remeasurements within reserves
|
0.3
|
(0.1)
|
Defined benefit pension fund asset deduction
|
(0.5)
|
(0.1)
|
Net impact of pensions
|
(0.2)
|
(0.2)
|
|
|
|
Additional value adjustments (PVA)
|
(0.1)
|
-
|
Goodwill and intangible assets
|
(0.1)
|
-
|
Deferred tax assets that rely on future profitability excluding
those arising from temporary differences
|
0.1
|
0.1
|
Adjustment under IFRS 9 transitional arrangements
|
-
|
(0.1)
|
Decrease in regulatory capital due to adjustments and
deductions
|
(0.1)
|
-
|
|
|
|
Closing CET1 capital
|
42.9
|
42.9
|
|
|
|
|
●
|
A
£0.5bn increase in the fair value through other comprehensive
income reserve mainly driven by gains from an increase in fair
value of bonds due to decreasing bond yields
|
|
●
|
A
£0.2bn increase in the currency translation reserve mainly
driven by the appreciation of period end USD against
GBP
|
|
●
|
A
£0.2bn decrease as a result of movements relating to pensions,
largely due to deficit contribution payments of £0.25bn in
April 2019
|
|
●
|
A
£0.1bn decrease in the IFRS 9 transitional add back primarily
due to the change in the phasing of transitional relief from 95% in
2018 to 85% in 2019
|
Risk weighted assets (RWAs) by risk type and business
|
|||||||||||||
|
Credit risk
|
|
Counterparty credit risk
|
|
Market risk
|
|
Operational risk
|
Total RWAs
|
|||||
|
Std
|
IRB
|
|
Std
|
IRB
|
Settlement risk
|
CVA
|
|
Std
|
IMA
|
|
|
|
As at 30.06.19
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Barclays UK
|
3.8
|
60.2
|
|
0.3
|
-
|
-
|
-
|
|
0.1
|
-
|
|
11.8
|
76.2
|
Corporate
and Investment Bank
|
24.6
|
68.2
|
|
12.4
|
16.4
|
0.2
|
3.4
|
|
15.4
|
13.7
|
|
21.6
|
175.9
|
Consumer,
Cards and Payments
|
29.3
|
2.1
|
|
0.1
|
-
|
-
|
-
|
|
-
|
0.1
|
|
7.3
|
38.9
|
Barclays International
|
53.9
|
70.3
|
|
12.5
|
16.4
|
0.2
|
3.4
|
|
15.4
|
13.8
|
|
28.9
|
214.8
|
Head Office
|
5.7
|
6.4
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
|
16.0
|
28.1
|
Barclays Group
|
63.4
|
136.9
|
|
12.8
|
16.4
|
0.2
|
3.4
|
|
15.5
|
13.8
|
|
56.7
|
319.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 31.03.19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
3.8
|
60.7
|
|
0.2
|
-
|
-
|
-
|
|
0.1
|
-
|
|
11.8
|
76.6
|
Corporate
and Investment Bank
|
26.8
|
66.3
|
|
10.2
|
15.9
|
0.1
|
4.1
|
|
16.5
|
15.1
|
|
21.6
|
176.6
|
Consumer,
Cards and Payments
|
29.4
|
2.2
|
|
0.1
|
-
|
-
|
-
|
|
-
|
0.5
|
|
7.3
|
39.5
|
Barclays International
|
56.2
|
68.5
|
|
10.3
|
15.9
|
0.1
|
4.1
|
|
16.5
|
15.6
|
|
28.9
|
216.1
|
Head Office
|
5.2
|
5.8
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
|
16.0
|
27.0
|
Barclays Group
|
65.2
|
135.0
|
|
10.5
|
15.9
|
0.1
|
4.1
|
|
16.6
|
15.6
|
|
56.7
|
319.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 31.12.18
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
3.3
|
59.7
|
|
0.2
|
-
|
-
|
0.1
|
|
0.1
|
-
|
|
11.8
|
75.2
|
Corporate
and Investment Bank
|
26.1
|
64.8
|
|
9.8
|
14.9
|
0.2
|
3.3
|
|
13.9
|
16.2
|
|
21.7
|
170.9
|
Consumer,
Cards and Payments
|
29.5
|
2.2
|
|
0.1
|
0.1
|
-
|
-
|
|
-
|
0.6
|
|
7.3
|
39.8
|
Barclays International
|
55.6
|
67.0
|
|
9.9
|
15.0
|
0.2
|
3.3
|
|
13.9
|
16.8
|
|
29.0
|
210.7
|
Head Office
|
4.3
|
5.8
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
|
15.9
|
26.0
|
Barclays Group
|
63.2
|
132.5
|
|
10.1
|
15.0
|
0.2
|
3.4
|
|
14.0
|
16.8
|
|
56.7
|
311.9
|
Movement analysis of RWAs
|
|||||
|
Credit risk
|
Counterparty credit risk
|
Market risk
|
Operational risk
|
Total RWAs
|
As at 30.06.19
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Opening RWAs
|
195.6
|
28.8
|
30.8
|
56.7
|
311.9
|
Book size
|
4.3
|
4.0
|
(1.2)
|
-
|
7.1
|
Acquisitions and disposals
|
(0.2)
|
-
|
-
|
-
|
(0.2)
|
Book quality
|
(0.1)
|
-
|
-
|
-
|
(0.1)
|
Model updates
|
-
|
-
|
-
|
-
|
-
|
Methodology and policy
|
0.2
|
-
|
(0.3)
|
-
|
(0.1)
|
Foreign exchange movements1
|
0.5
|
-
|
-
|
-
|
0.5
|
Closing RWAs
|
200.3
|
32.8
|
29.3
|
56.7
|
319.1
|
1
|
Foreign exchange movements does not include foreign exchange for
counterparty credit risk or market risk.
|
Leverage ratios1,2
|
As at
30.06.19
|
As at
31.03.19
|
As at
31.12.18
|
£bn
|
£bn
|
£bn
|
|
Average UK leverage ratio
|
4.7%
|
4.6%
|
4.5%
|
Average T1 capital3
|
53.8
|
51.2
|
50.5
|
Average UK leverage exposure
|
1,135
|
1,106
|
1,110
|
|
|
|
|
UK leverage ratio
|
5.1%
|
4.9%
|
5.1%
|
|
|
|
|
CET1 capital
|
42.9
|
41.4
|
41.1
|
AT1 capital
|
12.0
|
11.0
|
9.5
|
T1 capital3
|
54.9
|
52.4
|
50.6
|
|
|
|
|
UK leverage exposure
|
1,079
|
1,065
|
999
|
|
|
|
|
UK leverage exposure
|
|
|
|
Accounting assets
|
|
|
|
Derivative financial instruments
|
244
|
218
|
223
|
Derivative cash collateral
|
59
|
53
|
48
|
Securities financing transactions (SFTs)
|
131
|
135
|
121
|
Loans and advances and other assets
|
799
|
788
|
741
|
Total IFRS assets
|
1,233
|
1,194
|
1,133
|
|
|
|
|
Regulatory consolidation adjustments
|
(1)
|
(2)
|
(2)
|
|
|
|
|
Derivatives adjustments
|
|
|
|
Derivatives netting
|
(223)
|
(198)
|
(202)
|
Adjustments to cash collateral
|
(51)
|
(43)
|
(42)
|
Net written credit protection
|
15
|
16
|
19
|
Potential future exposure (PFE) on derivatives
|
127
|
125
|
123
|
Total derivatives adjustments
|
(132)
|
(100)
|
(102)
|
|
|
|
|
SFTs adjustments
|
17
|
17
|
17
|
|
|
|
|
Regulatory deductions and other adjustments
|
(12)
|
(11)
|
(11)
|
|
|
|
|
Weighted off-balance sheet commitments
|
110
|
108
|
108
|
|
|
|
|
Qualifying central bank claims
|
(136)
|
(141)
|
(144)
|
|
|
|
|
UK leverage exposure2
|
1,079
|
1,065
|
999
|
1
|
The fully loaded UK leverage ratio was 5.0%, with £53.7bn of
T1 capital and £1,078bn of leverage exposure calculated
without applying the transitional
arrangements of the CRR as amended by CRR II applicable as at the
reporting date.
|
2
|
Capital and leverage measures are calculated applying the
transitional arrangements of the CRR as amended by CRR II
applicable as at the reporting date.
|
3
|
T1 capital is calculated in line with the PRA
Handbook.
|
1
|
CRR leverage ratio as amended by CRR II applicable as at the
reporting date.
|
|
●
|
Loss
absorption and recapitalisation amounts consisting of two times the
8% Pillar 1 and 4.7% Pillar 2A requirement
|
|
●
|
Capital
buffers including a 1.5% G-SII buffer, 2.5% CCB and 0.5%
CCyB
|
Own funds and eligible liabilities
ratios1
|
As at
30.06.19
|
As at
31.03.193
|
As at
31.12.183
|
CET1 capital
|
13.4%
|
13.0%
|
13.2%
|
AT1 capital instruments and related share premium
accounts2
|
3.8%
|
3.4%
|
3.1%
|
T2 capital instruments and related share premium
accounts2
|
2.4%
|
2.0%
|
2.1%
|
Eligible liabilities
|
10.6%
|
9.4%
|
9.7%
|
Total Barclays PLC (the Parent company) own funds and eligible
liabilities
|
30.2%
|
27.7%
|
28.1%
|
Qualifying AT1 capital (including minority interests) issued by
subsidiaries
|
0.2%
|
0.7%
|
0.7%
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries
|
1.6%
|
1.7%
|
1.6%
|
Total own funds and eligible liabilities, including eligible
Barclays Bank PLC instruments
|
32.0%
|
30.2%
|
30.5%
|
|
|
|
|
Own funds and eligible
liabilities1
|
£bn
|
£bn3
|
£bn3
|
CET1 capital
|
42.9
|
41.4
|
41.1
|
AT1 capital instruments and related share premium
accounts2
|
12.0
|
11.0
|
9.6
|
T2 capital instruments and related share premium
accounts2
|
7.8
|
6.3
|
6.6
|
Eligible liabilities
|
33.7
|
29.9
|
30.4
|
Total Barclays PLC (the Parent company) own funds and eligible
liabilities
|
96.4
|
88.7
|
87.7
|
Qualifying AT1 capital (including minority interests) issued by
subsidiaries
|
0.7
|
2.3
|
2.3
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries
|
5.0
|
5.5
|
5.1
|
Total own funds and eligible liabilities, including eligible
Barclays Bank PLC instruments
|
102.0
|
96.5
|
95.1
|
|
|
|
|
Total RWAs1
|
319.1
|
319.7
|
311.9
|
1
|
CET1, T1 and T2 capital, and RWAs are calculated applying the
transitional arrangements of the CRR as amended by CRR II
applicable as at the reporting date. This includes IFRS 9
transitional arrangements and the grandfathering of CRR and CRR II
non-compliant capital instruments.
|
2
|
Includes other AT1 capital regulatory adjustments and deductions of
£0.1bn (included in AT1 issued by subsidiaries in December
2018: £0.1bn), and other T2 credit risk adjustments and
deductions of £0.2bn (included in T2 issued by subsidiaries in
December 2018: £0.3bn).
|
3
|
The comparatives are based on the Bank of England's statement of
policy on MREL.
|
●
|
an indication of important events that have occurred during the six
months ended 30 June 2019 and their impact on the condensed
consolidated interim financial statements, and a description of the
principal risks and uncertainties for the remaining six months of
the financial year
|
●
|
any related party transactions in the six months ended 30 June 2019
that have materially affected the financial position or performance
of Barclays during that period and any changes in the related party
transactions described in the last Annual Report that could have a
material effect on the financial position or performance of
Barclays in the six months ended 30 June 2019.
|
James E Staley
|
Tushar Morzaria
|
Group
Chief Executive
|
Group
Finance Director
|
Chairman
Nigel Higgins
|
Executive Directors
James E Staley
Tushar Morzaria
|
Non-executive Directors
Mike Ashley
Tim Breedon CBE
Sir Ian Cheshire
Mary Anne Citrino
Mary Francis CBE
Crawford Gillies
Matthew Lester
Diane Schueneman
|
|
●
|
The
condensed consolidated income statement and condensed consolidated
statement of comprehensive income for the period then
ended;
|
|
●
|
the
condensed consolidated balance sheet as at 30 June
2019;
|
|
●
|
the
condensed consolidated statement of changes in equity for the
period then ended;
|
|
●
|
the
condensed consolidated cash flow statement for the period then
ended; and
|
|
●
|
the
related explanatory notes
|
Condensed consolidated income statement (unaudited)
|
|||
|
|
Half year ended
|
Half year ended
|
|
|
30.06.19
|
30.06.18
|
|
Notes1
|
£m
|
£m
|
Net interest income
|
|
4,618
|
4,378
|
Net fee and commission income
|
3
|
3,334
|
3,489
|
Net trading income
|
|
2,124
|
2,480
|
Net investment income
|
|
662
|
512
|
Other income
|
|
52
|
75
|
Total income
|
|
10,790
|
10,934
|
Credit impairment charges and other provisions
|
|
(928)
|
(571)
|
Net operating income
|
|
9,862
|
10,363
|
|
|
|
|
Staff costs
|
4
|
(4,264)
|
(4,277)
|
Infrastructure, administration and general expenses
|
5
|
(2,494)
|
(2,397)
|
Litigation and conduct
|
|
(114)
|
(2,042)
|
Operating expenses
|
|
(6,872)
|
(8,716)
|
|
|
|
|
Profit on disposal of undertakings and share of results of
associates and joint ventures
|
|
24
|
12
|
Profit before tax
|
|
3,014
|
1,659
|
Tax charge2
|
6
|
(545)
|
(644)
|
Profit after tax
|
|
2,469
|
1,015
|
|
|
|
|
Attributable to:
|
|
|
|
Equity holders of the parent2
|
|
2,072
|
561
|
Other equity instrument holders
|
|
363
|
346
|
Total equity holders of the parent
|
|
2,435
|
907
|
Non-controlling interests
|
7
|
34
|
108
|
Profit after tax
|
|
2,469
|
1,015
|
|
|
|
|
Earnings per share
|
|
p
|
p
|
Basic earnings per ordinary share
|
8
|
12.1
|
3.3
|
Diluted earnings per ordinary share
|
8
|
11.9
|
3.2
|
1
|
For notes to the Financial Statements see pages 55 to
83.
|
2
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously
recorded in retained earnings.
Comparatives have been restated, reducing the tax charge for H118
by £93m. This change does not impact earnings per share or
return on average tangible
shareholders’ equity.
Further detail can be found in Note 1, Basis of preparation on
pages 55 to 56.
|
Condensed consolidated statement of comprehensive income
(unaudited)
|
|||
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
|
30.06.19
|
30.06.18
|
|
Notes1
|
£m
|
£m
|
Profit after tax
|
|
2,469
|
1,015
|
|
|
|
|
Other comprehensive income/(loss) that
may be recycled to profit or loss:2
|
|
|
|
Currency translation reserve
|
17
|
177
|
338
|
Fair value through other comprehensive income reserve
|
17
|
380
|
(189)
|
Cash flow hedging reserve
|
17
|
528
|
(509)
|
Other
|
17
|
-
|
11
|
Other comprehensive income/(loss) that may be recycled to profit or
loss
|
|
1,085
|
(349)
|
|
|
|
|
Other comprehensive (loss)/income not
recycled to profit or loss:2
|
|
|
|
Retirement benefit remeasurements
|
14
|
(140)
|
(54)
|
Fair value through other comprehensive income reserve
|
17
|
125
|
(267)
|
Own credit
|
17
|
44
|
(73)
|
Other comprehensive income/(loss) not recycled to profit or
loss
|
|
29
|
(394)
|
|
|
|
|
Other comprehensive income/(loss) for the period
|
|
1,114
|
(743)
|
|
|
|
|
Total comprehensive income for the period
|
|
3,583
|
272
|
|
|
|
|
Attributable to:
|
|
|
|
Equity holders of the parent
|
|
3,549
|
163
|
Non-controlling interests
|
|
34
|
109
|
Total comprehensive income for the period
|
|
3,583
|
272
|
1
|
For notes to the Financial Statements see pages 55 to
83.
|
2
|
Reported net of tax.
|
Condensed consolidated balance sheet (unaudited)
|
|||
|
|
As at
|
As at
|
|
|
30.06.192
|
31.12.18
|
Assets
|
Notes1
|
£m
|
£m
|
Cash and balances at central banks
|
|
158,070
|
177,069
|
Cash collateral and settlement balances
|
|
104,625
|
77,222
|
Loans and advances at amortised cost
|
|
339,319
|
326,406
|
Reverse repurchase agreements and other similar secured
lending
|
|
8,990
|
2,308
|
Trading portfolio assets
|
|
120,381
|
104,187
|
Financial assets at fair value through the income
statement
|
|
159,705
|
149,648
|
Derivative financial instruments
|
10
|
244,186
|
222,538
|
Financial assets at fair value through other comprehensive
income
|
|
72,169
|
52,816
|
Investments in associates and joint ventures
|
|
734
|
762
|
Goodwill and intangible assets
|
|
7,993
|
7,973
|
Property, plant and equipment
|
|
4,206
|
2,535
|
Current tax assets
|
6
|
884
|
798
|
Deferred tax assets
|
6
|
3,142
|
3,828
|
Retirement benefit assets
|
14
|
1,875
|
1,768
|
Other assets
|
|
6,543
|
3,425
|
Total assets
|
|
1,232,822
|
1,133,283
|
|
|
|
|
Liabilities
|
|
|
|
Deposits at amortised cost
|
|
413,596
|
394,838
|
Cash collateral and settlement balances
|
|
93,806
|
67,522
|
Repurchase agreements and other similar secured
borrowing
|
|
18,322
|
18,578
|
Debt securities in issue
|
|
90,815
|
82,286
|
Subordinated liabilities
|
12
|
18,803
|
20,559
|
Trading portfolio liabilities
|
|
42,724
|
37,882
|
Financial liabilities designated at fair value
|
|
229,853
|
216,834
|
Derivative financial instruments
|
10
|
243,103
|
219,643
|
Current tax liabilities
|
6
|
616
|
628
|
Deferred tax liabilities
|
6
|
5
|
51
|
Retirement benefit liabilities
|
14
|
323
|
315
|
Other liabilities
|
|
10,279
|
7,716
|
Provisions
|
13
|
1,780
|
2,652
|
Total liabilities
|
|
1,164,025
|
1,069,504
|
|
|
|
|
Equity
|
|
|
|
Called up share capital and share premium
|
15
|
4,494
|
4,311
|
Other reserves
|
17
|
6,403
|
5,153
|
Retained earnings
|
|
44,556
|
43,460
|
Shareholders' equity attributable to ordinary shareholders of the
parent
|
|
55,453
|
52,924
|
Other equity instruments
|
16
|
12,123
|
9,632
|
Total equity excluding non-controlling interests
|
|
67,576
|
62,556
|
Non-controlling interests
|
7
|
1,221
|
1,223
|
Total equity
|
|
68,797
|
63,779
|
|
|
|
|
Total liabilities and equity
|
|
1,232,822
|
1,133,283
|
1
|
For notes to the Financial Statements see pages 55 to
83.
|
2
|
Barclays adopted the accounting standard IFRS 16 on 1 January 2019.
The impact on adoption was an increase in property,
plant and equipment of £1.6bn, an increase in other
liabilities of £1.6bn, with no material impact on retained
earnings.
|
Condensed consolidated statement of changes in equity
(unaudited)
|
|||||||
|
Called up share capital and share
premium1
|
Other equity
instruments1
|
Other reserves1
|
Retained earnings
|
Total
|
Non-controlling
interests2
|
Total equity
|
Half year ended 30.06.19
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Balance as at 1 January 2019
|
4,311
|
9,632
|
5,153
|
43,460
|
62,556
|
1,223
|
63,779
|
Profit after tax
|
-
|
363
|
-
|
2,072
|
2,435
|
34
|
2,469
|
Currency translation movements
|
-
|
-
|
177
|
-
|
177
|
-
|
177
|
Fair value through other comprehensive income reserve
|
-
|
-
|
505
|
-
|
505
|
-
|
505
|
Cash flow hedges
|
-
|
-
|
528
|
-
|
528
|
-
|
528
|
Retirement benefit remeasurements
|
-
|
-
|
-
|
(140)
|
(140)
|
-
|
(140)
|
Own credit
|
-
|
-
|
44
|
-
|
44
|
-
|
44
|
Total comprehensive income for the period
|
-
|
363
|
1,254
|
1,932
|
3,549
|
34
|
3,583
|
Issue of new ordinary shares
|
159
|
-
|
-
|
-
|
159
|
-
|
159
|
Issue of shares under employee share schemes
|
24
|
-
|
-
|
241
|
265
|
-
|
265
|
Issue and exchange of other equity instruments
|
-
|
2,504
|
-
|
-
|
2,504
|
|
2,504
|
Other equity instruments coupons paid
|
-
|
(363)
|
-
|
-
|
(363)
|
-
|
(363)
|
Vesting of shares under employee share schemes
|
-
|
-
|
(4)
|
(384)
|
(388)
|
-
|
(388)
|
Dividends paid
|
-
|
-
|
-
|
(684)
|
(684)
|
(34)
|
(718)
|
Other movements
|
-
|
(13)
|
-
|
(9)
|
(22)
|
(2)
|
(24)
|
Balance as at 30 June 2019
|
4,494
|
12,123
|
6,403
|
44,556
|
67,576
|
1,221
|
68,797
|
|
|
|
|
|
|
|
|
Half year ended 31.12.18
|
|
|
|
|
|
|
|
Balance as at 1 July 2018
|
22,144
|
8,938
|
4,532
|
25,441
|
61,055
|
2,113
|
63,168
|
Profit after tax3
|
-
|
406
|
-
|
1,036
|
1,442
|
118
|
1,560
|
Currency translation movements
|
-
|
-
|
496
|
-
|
496
|
-
|
496
|
Fair value through other comprehensive income reserve
|
-
|
-
|
(30)
|
-
|
(30)
|
-
|
(30)
|
Cash flow hedges
|
-
|
-
|
8
|
-
|
8
|
-
|
8
|
Retirement benefit remeasurements
|
-
|
-
|
-
|
367
|
367
|
-
|
367
|
Own credit
|
-
|
-
|
131
|
-
|
131
|
-
|
131
|
Other
|
-
|
-
|
-
|
20
|
20
|
(1)
|
19
|
Total comprehensive income for the period
|
-
|
406
|
605
|
1,423
|
2,434
|
117
|
2,551
|
Issue of new ordinary shares
|
21
|
-
|
-
|
-
|
21
|
-
|
21
|
Issue of shares under employee share schemes
|
19
|
-
|
-
|
212
|
231
|
-
|
231
|
Capital reorganisation
|
(17,873)
|
-
|
-
|
17,873
|
-
|
-
|
-
|
Issue and exchange of other equity instruments
|
-
|
692
|
-
|
(308)
|
384
|
-
|
384
|
Other equity instruments coupons paid3
|
-
|
(406)
|
-
|
-
|
(406)
|
-
|
(406)
|
Redemption of preference shares
|
-
|
-
|
-
|
(732)
|
(732)
|
(1,309)
|
(2,041)
|
Debt to equity reclassification
|
-
|
-
|
-
|
-
|
-
|
419
|
419
|
Vesting of shares under employee share schemes
|
-
|
-
|
16
|
(15)
|
1
|
-
|
1
|
Dividends paid
|
-
|
-
|
-
|
(427)
|
(427)
|
(120)
|
(547)
|
Other movements
|
-
|
2
|
-
|
(7)
|
(5)
|
3
|
(2)
|
Balance as at 31 December 2018
|
4,311
|
9,632
|
5,153
|
43,460
|
62,556
|
1,223
|
63,779
|
1
|
Details of share capital, other equity instruments and other
reserves are shown on pages 72 to 74.
|
2
|
Details of non-controlling interests are shown on page
60.
|
3
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement, whereas it was previously
recorded in retained earnings.
This change does not impact earnings per share or return on average
tangible shareholders’ equity. Comparatives have been
restated, reducing the tax charge
for H218 by £110m.
Further detail can be found in Note 1, Basis of preparation on
pages 55 to 56.
|
Condensed consolidated statement of changes in equity
(unaudited)
|
|||||||
|
Called up share capital and share
premium1
|
Other equity
instruments1
|
Other reserves1
|
Retained earnings
|
Total
|
Non-controlling
interests2
|
Total equity
|
Half year ended 30.06.18
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Balance as at 31 December 2017
|
22,045
|
8,941
|
5,383
|
27,536
|
63,905
|
2,111
|
66,016
|
Effects of changes in accounting policies
|
-
|
-
|
(136)
|
(2,014)
|
(2,150)
|
-
|
(2,150)
|
Balance as at 1 January 2018
|
22,045
|
8,941
|
5,247
|
25,522
|
61,755
|
2,111
|
63,866
|
Profit after tax3
|
-
|
346
|
-
|
561
|
907
|
108
|
1,015
|
Currency translation movements
|
-
|
-
|
338
|
-
|
338
|
-
|
338
|
Fair value through other comprehensive income reserve
|
-
|
-
|
(456)
|
-
|
(456)
|
-
|
(456)
|
Cash flow hedges
|
-
|
-
|
(509)
|
-
|
(509)
|
-
|
(509)
|
Retirement benefit remeasurements
|
-
|
-
|
-
|
(54)
|
(54)
|
-
|
(54)
|
Own credit
|
-
|
-
|
(73)
|
-
|
(73)
|
-
|
(73)
|
Other
|
-
|
-
|
-
|
10
|
10
|
1
|
11
|
Total comprehensive income for the period
|
-
|
346
|
(700)
|
517
|
163
|
109
|
272
|
Issue of new ordinary shares
|
67
|
-
|
-
|
-
|
67
|
-
|
67
|
Issue of shares under employee share schemes
|
32
|
-
|
-
|
237
|
269
|
-
|
269
|
Other equity instruments coupons paid3
|
-
|
(346)
|
-
|
-
|
(346)
|
-
|
(346)
|
Vesting of shares under employee share schemes
|
-
|
-
|
(15)
|
(484)
|
(499)
|
-
|
(499)
|
Dividends paid
|
-
|
-
|
-
|
(341)
|
(341)
|
(106)
|
(447)
|
Other movements
|
-
|
(3)
|
-
|
(10)
|
(13)
|
(1)
|
(14)
|
Balance as at 30 June 2018
|
22,144
|
8,938
|
4,532
|
25,441
|
61,055
|
2,113
|
63,168
|
1
|
Details of share capital, other equity instruments and other
reserves are shown on pages 72 to 74.
|
2
|
Details of non-controlling interests are shown on page
60.
|
3
|
From 2019, due to an IAS 12 update, the tax relief on payments in
relation to AT1 instruments has been recognised in the tax charge
of the income statement,
whereas it was previously recorded in retained earnings.
Comparatives have been restated, reducing the tax charge for H118
by £93m. This change does not
impact earnings per share or return on average tangible
shareholders’ equity. Further detail can be found in Note 1,
Basis of preparation on pages 55 to 56.
|
Condensed consolidated cash flow statement (unaudited)
|
|
|
|
Half year ended
|
Half year ended
|
|
30.06.19
|
30.06.18
|
|
£m
|
£m
|
Profit before tax
|
3,014
|
1,659
|
Adjustment for non-cash items
|
(297)
|
2,716
|
Changes in operating assets and liabilities
|
467
|
(2,799)
|
Corporate income tax paid
|
(260)
|
(172)
|
Net cash from operating activities
|
2,924
|
1,404
|
Net cash from investing activities
|
(17,075)
|
(7,332)
|
Net cash from financing activities
|
(610)
|
(4,300)
|
Effect of exchange rates on cash and cash equivalents
|
652
|
403
|
Net decrease in cash and cash equivalents
|
(14,109)
|
(9,825)
|
Cash and cash equivalents at beginning of the period
|
211,166
|
204,612
|
Cash and cash equivalents at end of the period
|
197,057
|
194,787
|
|
●
|
A lease
liability, measured at the present value of remaining cash flows on
the lease, and
|
|
●
|
A right
of use (ROU) asset, measured at the amount of the initial
measurement of the lease liability, plus any lease payments made
prior to commencement date, initial direct costs, and estimated
costs of restoring the underlying asset to the condition required
by the lease, less any lease incentives received.
|
|
●
|
To
calculate the right of use asset equal to the lease liability,
adjusted for prepaid or accrued payments.
|
|
●
|
To rely
on the previous assessment of whether leases are onerous in
accordance with IAS 37 immediately before the date of initial
application as an alternative to performing an impairment review.
The Barclays Group adjusted the carrying amount of the ROU asset at
the date of initial application by the previous carrying amount of
its onerous lease provision.
|
|
●
|
To
apply the recognition exception for leases with a term not
exceeding 12 months.
|
|
●
|
To use
hindsight in determining the lease term if the contract contains
options to extend or terminate the lease.
|
Analysis of results by business
|
|
|
|
|
|
Barclays
UK
|
Barclays
International
|
Head
Office
|
Barclays
Group
|
Half year ended 30.06.19
|
£m
|
£m
|
£m
|
£m
|
Total income
|
3,548
|
7,473
|
(231)
|
10,790
|
Credit impairment charges and other provisions
|
(421)
|
(492)
|
(15)
|
(928)
|
Net operating income/(expenses)
|
3,127
|
6,981
|
(246)
|
9,862
|
Total operating expenses
|
(2,065)
|
(4,671)
|
(136)
|
(6,872)
|
Other net income/(expenses)1
|
-
|
31
|
(7)
|
24
|
Profit/(loss) before tax
|
1,062
|
2,341
|
(389)
|
3,014
|
|
|
|
|
|
As at 30.06.19
|
£bn
|
£bn
|
£bn
|
£bn
|
Total assets
|
259.0
|
951.4
|
22.4
|
1,232.8
|
|
|
|
|
|
|
Barclays
UK
|
Barclays
International
|
Head
Office
|
Barclays
Group
|
Half year ended 30.06.18
|
£m
|
£m
|
£m
|
£m
|
Total income
|
3,624
|
7,515
|
(205)
|
10,934
|
Credit impairment (charges)/releases and other
provisions
|
(415)
|
(161)
|
5
|
(571)
|
Net operating income/(expenses)
|
3,209
|
7,354
|
(200)
|
10,363
|
Total operating expenses
|
(2,387)
|
(4,668)
|
(1,661)
|
(8,716)
|
Other net income/(expenses)1
|
4
|
24
|
(16)
|
12
|
Profit/(loss) before tax
|
826
|
2,710
|
(1,877)
|
1,659
|
|
|
|
|
|
As at 31.12.18
|
£bn
|
£bn
|
£bn
|
£bn
|
Total assets
|
249.7
|
862.1
|
21.5
|
1,133.3
|
1
|
Other net income/(expenses) represents the share of post-tax
results of associates and joint ventures, profit (or loss) on
disposal of subsidiaries,
associates and joint ventures and gains on
acquisitions.
|
|
Half year ended
|
Half year ended
|
Split of income by geographic region1
|
30.06.19
|
30.06.18
|
|
£m
|
£m
|
UK
|
5,365
|
5,527
|
Europe
|
959
|
1,042
|
Americas
|
3,956
|
3,966
|
Africa and Middle East
|
144
|
103
|
Asia
|
366
|
296
|
Total
|
10,790
|
10,934
|
1
|
The geographic region is based on counterparty
location.
|
|
Barclays UK
|
Barclays International
|
Head
Office
|
Total
|
Half year ended 30.06.19
|
£m
|
£m
|
£m
|
£m
|
Fee type
|
|
|
|
|
Transactional
|
523
|
1,353
|
-
|
1,876
|
Advisory
|
88
|
406
|
-
|
494
|
Brokerage and execution
|
101
|
536
|
-
|
637
|
Underwriting and syndication
|
-
|
1,240
|
-
|
1,240
|
Other
|
45
|
131
|
7
|
183
|
Total revenue from contracts with customers
|
757
|
3,666
|
7
|
4,430
|
Other non-contract fee income
|
-
|
54
|
-
|
54
|
Fee and commission income
|
757
|
3,720
|
7
|
4,484
|
Fee and commission expense
|
(187)
|
(957)
|
(6)
|
(1,150)
|
Net fee and commission income
|
570
|
2,763
|
1
|
3,334
|
|
Barclays UK
|
Barclays International
|
Head
Office
|
Total
|
Half year ended 30.06.18
|
£m
|
£m
|
£m
|
£m
|
Fee type
|
|
|
|
|
Transactional
|
530
|
1,257
|
-
|
1,787
|
Advisory
|
99
|
377
|
-
|
476
|
Brokerage and execution
|
52
|
583
|
-
|
635
|
Underwriting and syndication
|
-
|
1,368
|
-
|
1,368
|
Other
|
61
|
125
|
16
|
202
|
Total revenue from contracts with customers
|
742
|
3,710
|
16
|
4,468
|
Other non-contract fee income
|
-
|
55
|
-
|
55
|
Fee and commission income
|
742
|
3,765
|
16
|
4,523
|
Fee and commission expense
|
(172)
|
(847)
|
(15)
|
(1,034)
|
Net fee and commission income
|
570
|
2,918
|
1
|
3,489
|
|
Half year ended
|
Half year ended
|
|
30.06.19
|
30.06.18
|
Compensation costs
|
£m
|
£m
|
Current year bonus charges
|
456
|
593
|
Deferred bonus charge
|
226
|
256
|
Commissions and other incentives
|
34
|
21
|
Performance costs
|
716
|
870
|
Salaries
|
2,195
|
2,069
|
Social security costs
|
315
|
303
|
Post-retirement benefits
|
251
|
243
|
Other compensation costs
|
232
|
199
|
Total compensation costs
|
3,709
|
3,684
|
|
|
|
Other resourcing costs
|
|
|
Outsourcing
|
257
|
277
|
Redundancy and restructuring
|
49
|
60
|
Temporary staff costs
|
173
|
193
|
Other
|
76
|
63
|
Total other resourcing costs
|
555
|
593
|
|
|
|
Total staff costs
|
4,264
|
4,277
|
|
|
|
Barclays Group compensation costs as a % of total
income
|
34.4
|
33.7
|
|
Half year ended
|
Half year ended
|
|
30.06.19
|
30.06.18
|
Infrastructure costs
|
£m
|
£m
|
Property and equipment
|
691
|
685
|
Depreciation of property, plant and equipment1
|
310
|
202
|
Lease rentals1
|
21
|
128
|
Amortisation of intangible assets
|
419
|
412
|
Impairment of property, equipment and intangible
assets
|
29
|
1
|
Total infrastructure costs
|
1,470
|
1,428
|
|
|
|
Administration and general expenses
|
|
|
Consultancy, legal and professional fees
|
284
|
353
|
Subscriptions, publications, stationery and
communications
|
329
|
319
|
Marketing, advertising and sponsorship
|
212
|
195
|
Travel and accommodation
|
81
|
74
|
Other administration and general expenses
|
118
|
28
|
Total administration and general expenses
|
1,024
|
969
|
|
|
|
Total infrastructure, administration and general
expenses
|
2,494
|
2,397
|
1
|
Barclays adopted the accounting standard IFRS 16 on 1 January 2019.
The impact has been to increase the depreciation charge by
£113m as a result of
recognising a right of use asset and to reduce the operating lease
expense in H119. The prior period comparatives have not been
restated.
See Note 1
for further details.
|
|
Assets
|
|
Liabilities
|
||
|
As at
|
As at
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
|
30.06.19
|
31.12.18
|
Current and deferred tax assets and liabilities
|
£m
|
£m
|
|
£m
|
£m
|
Current tax
|
884
|
798
|
|
(616)
|
(628)
|
Deferred tax
|
3,142
|
3,828
|
|
(5)
|
(51)
|
Total
|
4,026
|
4,626
|
|
(621)
|
(679)
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
Deferred tax assets and liabilities
|
£m
|
£m
|
USA
|
2,293
|
2,541
|
UK
|
438
|
861
|
Other
|
411
|
426
|
Deferred tax assets
|
3,142
|
3,828
|
Deferred tax liabilities
|
(5)
|
(51)
|
|
|
|
Analysis of deferred tax assets
|
|
|
Temporary differences
|
2,754
|
3,299
|
Tax losses
|
388
|
529
|
Deferred tax assets
|
3,142
|
3,828
|
|
|
|
|
|
|
|
Profit attributable to
non-controlling interests
|
|
Equity attributable to
non-controlling interests
|
||
|
Half year ended
|
Half year ended
|
|
As at
|
As at
|
|
30.06.19
|
30.06.18
|
|
30.06.19
|
31.12.18
|
|
£m
|
£m
|
|
£m
|
£m
|
Barclays Bank PLC issued:
|
|
|
|
|
|
- Preference shares
|
27
|
106
|
|
529
|
529
|
- Upper T2 instruments
|
7
|
3
|
|
691
|
691
|
Other non-controlling interests
|
-
|
(1)
|
|
1
|
3
|
Total
|
34
|
108
|
|
1,221
|
1,223
|
|
Half year ended
|
Half year ended
|
|
30.06.19
|
30.06.18
|
|
£m
|
£m
|
Profit attributable to ordinary equity holders of the
parent1
|
2,072
|
561
|
|
|
|
|
m
|
m
|
Basic weighted average number of shares in issue
|
17,178
|
17,067
|
Number of potential ordinary shares
|
200
|
258
|
Diluted weighted average number of shares
|
17,378
|
17,325
|
|
|
|
|
p
|
p
|
Basic earnings per ordinary share1
|
12.1
|
3.3
|
Diluted earnings per ordinary share1
|
11.9
|
3.2
|
|
Half year ended 30.06.19
|
Half year ended 30.06.18
|
||
|
Per share
|
Total
|
Per share
|
Total
|
Dividends paid during the period
|
p
|
£m
|
p
|
£m
|
Full year dividend paid during period
|
4.0
|
684
|
2.0
|
341
|
10. Derivative financial instruments
|
|
|
|
|
|
Contract notional amount
|
|
Fair value
|
|
|
|
Assets
|
Liabilities
|
|
As at 30.06.19
|
£m
|
|
£m
|
£m
|
Foreign exchange derivatives
|
5,325,619
|
|
56,446
|
(58,302)
|
Interest rate derivatives
|
43,634,276
|
|
154,780
|
(147,878)
|
Credit derivatives
|
799,556
|
|
13,013
|
(11,995)
|
Equity and stock index and commodity derivatives
|
1,172,578
|
|
19,801
|
(24,761)
|
Derivative assets/(liabilities) held for trading
|
50,932,029
|
|
244,040
|
(242,936)
|
|
|
|
|
|
Derivatives in hedge accounting relationships
|
|
|
|
|
Derivatives designated as cash flow hedges
|
74,976
|
|
8
|
(2)
|
Derivatives designated as fair value hedges
|
116,000
|
|
138
|
(103)
|
Derivatives designated as hedges of net investments
|
935
|
|
-
|
(62)
|
Derivative assets/(liabilities) designated in hedge accounting
relationships
|
191,911
|
|
146
|
(167)
|
|
|
|
|
|
Total recognised derivative assets/(liabilities)
|
51,123,940
|
|
244,186
|
(243,103)
|
|
|
|
|
|
As at 31.12.18
|
|
|
|
|
Foreign exchange derivatives
|
5,289,872
|
|
64,188
|
(64,127)
|
Interest rate derivatives
|
37,140,892
|
|
125,118
|
(120,628)
|
Credit derivatives
|
759,075
|
|
10,755
|
(9,519)
|
Equity and stock index and commodity derivatives
|
1,003,914
|
|
22,323
|
(25,304)
|
Derivative assets/(liabilities) held for trading
|
44,193,753
|
|
222,384
|
(219,578)
|
|
|
|
|
|
Derivatives in hedge accounting relationships
|
|
|
|
|
Derivatives designated as cash flow hedges
|
75,389
|
|
11
|
(6)
|
Derivatives designated as fair value hedges
|
101,845
|
|
143
|
(49)
|
Derivatives designated as hedges of net investments
|
2,968
|
|
-
|
(10)
|
Derivative assets/(liabilities) designated in hedge accounting
relationships
|
180,202
|
|
154
|
(65)
|
|
|
|
|
|
Total recognised derivative assets/(liabilities)
|
44,373,955
|
|
222,538
|
(219,643)
|
|
Valuation technique using
|
|
|
||
|
Quoted market prices
|
Observable inputs
|
Significant unobservable inputs
|
|
|
|
(Level 1)
|
(Level 2)
|
(Level 3)
|
|
Total
|
As at 30.06.19
|
£m
|
£m
|
£m
|
|
£m
|
Trading portfolio assets
|
58,456
|
58,377
|
3,548
|
|
120,381
|
Financial assets at fair value through the income
statement
|
10,853
|
140,578
|
8,274
|
|
159,705
|
Derivative financial instruments
|
6,004
|
232,481
|
5,701
|
|
244,186
|
Financial assets at fair value through other comprehensive
income
|
27,063
|
44,936
|
170
|
|
72,169
|
Investment property
|
-
|
-
|
8
|
|
8
|
Total assets
|
102,376
|
476,372
|
17,701
|
|
596,449
|
|
|
|
|
|
|
Trading portfolio liabilities
|
(25,714)
|
(17,004)
|
(6)
|
|
(42,724)
|
Financial liabilities designated at fair value
|
(98)
|
(229,451)
|
(304)
|
|
(229,853)
|
Derivative financial instruments
|
(5,728)
|
(232,576)
|
(4,799)
|
|
(243,103)
|
Total liabilities
|
(31,540)
|
(479,031)
|
(5,109)
|
|
(515,680)
|
|
|
|
|
|
|
As at 31.12.18
|
|
|
|
|
|
Trading portfolio assets
|
51,029
|
49,545
|
3,613
|
|
104,187
|
Financial assets at fair value through the income
statement
|
8,918
|
131,348
|
9,382
|
|
149,648
|
Derivative financial instruments
|
6,813
|
210,510
|
5,215
|
|
222,538
|
Financial assets at fair value through other comprehensive
income
|
19,764
|
32,697
|
355
|
|
52,816
|
Investment property
|
-
|
-
|
9
|
|
9
|
Total assets
|
86,524
|
424,100
|
18,574
|
|
529,198
|
|
|
|
|
|
|
Trading portfolio liabilities
|
(20,654)
|
(17,225)
|
(3)
|
|
(37,882)
|
Financial liabilities designated at fair value
|
(76)
|
(216,478)
|
(280)
|
|
(216,834)
|
Derivative financial liabilities
|
(6,152)
|
(208,748)
|
(4,743)
|
|
(219,643)
|
Total liabilities
|
(26,882)
|
(442,451)
|
(5,026)
|
|
(474,359)
|
|
Assets
|
Liabilities
|
||||
|
Valuation technique using
|
Valuation technique using
|
||||
|
Quoted
market prices
(Level 1)
|
Observable
inputs
(Level 2)
|
Significant
unobservable
inputs
(Level 3)
|
Quoted
market prices
(Level 1)
|
Observable
inputs
(Level 2)
|
Significant
unobservable
inputs
(Level 3)
|
As at 30.06.19
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Interest rate derivatives
|
-
|
152,606
|
2,320
|
-
|
(145,912)
|
(2,071)
|
Foreign exchange derivatives
|
-
|
56,237
|
209
|
-
|
(58,075)
|
(289)
|
Credit derivatives
|
-
|
11,565
|
1,448
|
-
|
(11,626)
|
(369)
|
Equity derivatives
|
6,004
|
10,871
|
1,711
|
(5,728)
|
(15,801)
|
(2,057)
|
Commodity derivatives
|
-
|
1,202
|
13
|
-
|
(1,162)
|
(13)
|
Government and government sponsored debt
|
53,418
|
63,687
|
2
|
(12,596)
|
(11,868)
|
-
|
Corporate debt
|
-
|
20,662
|
616
|
-
|
(5,671)
|
(6)
|
Certificates of deposit, commercial paper and other money market
instruments
|
-
|
554
|
-
|
-
|
(7,939)
|
(21)
|
Margin lending
|
-
|
15,306
|
-
|
-
|
(23,860)
|
-
|
Reverse repurchase and repurchase agreements
|
-
|
122,021
|
13
|
-
|
(148,829)
|
-
|
Non-asset backed loans
|
-
|
7,383
|
7,930
|
-
|
-
|
-
|
Asset backed securities
|
-
|
3,193
|
669
|
-
|
(28)
|
-
|
Issued debt
|
-
|
-
|
-
|
-
|
(47,402)
|
(263)
|
Equity cash products
|
42,852
|
10,190
|
357
|
(13,118)
|
(804)
|
-
|
Private equity investments
|
4
|
-
|
913
|
-
|
-
|
(20)
|
Other1
|
98
|
895
|
1,500
|
(98)
|
(54)
|
-
|
Total
|
102,376
|
476,372
|
17,701
|
(31,540)
|
(479,031)
|
(5,109)
|
|
|
|
|
|
|
|
As at 31.12.18
|
|
|
|
|
|
|
Interest rate derivatives
|
-
|
122,794
|
2,478
|
-
|
(118,227)
|
(2,456)
|
Foreign exchange derivatives
|
-
|
63,996
|
192
|
-
|
(63,952)
|
(185)
|
Credit derivatives
|
-
|
9,373
|
1,381
|
-
|
(9,188)
|
(331)
|
Equity derivatives
|
6,813
|
12,934
|
1,136
|
(6,152)
|
(16,001)
|
(1,743)
|
Commodity derivatives
|
-
|
1,413
|
28
|
-
|
(1,380)
|
(28)
|
Government and government sponsored debt
|
41,812
|
51,644
|
14
|
(9,396)
|
(11,171)
|
-
|
Corporate debt
|
-
|
14,664
|
456
|
-
|
(5,061)
|
-
|
Certificates of deposit, commercial paper and other money market
instruments
|
-
|
1,135
|
-
|
-
|
(8,556)
|
(10)
|
Margin lending
|
-
|
10,388
|
-
|
-
|
(26,875)
|
-
|
Reverse repurchase and repurchase agreements
|
-
|
118,273
|
768
|
-
|
(138,460)
|
-
|
Non-asset backed loans
|
-
|
7,406
|
8,304
|
-
|
-
|
-
|
Asset backed securities
|
-
|
2,314
|
688
|
-
|
(245)
|
-
|
Issued debt
|
-
|
-
|
-
|
-
|
(42,101)
|
(251)
|
Equity cash products
|
37,816
|
7,195
|
698
|
(11,258)
|
(1,181)
|
(3)
|
Private equity investments
|
7
|
-
|
1,071
|
-
|
-
|
(19)
|
Other1
|
76
|
571
|
1,360
|
(76)
|
(53)
|
-
|
Total
|
86,524
|
424,100
|
18,574
|
(26,882)
|
(442,451)
|
(5,026)
|
1
|
Other includes commercial real estate loans, funds and fund-linked
products, asset backed loans, physical commodities and investment
property.
|
Level 3 movement analysis
|
||||||||||
|
As at
01.01.19
|
Purchases
|
Sales
|
Issues
|
Settle-
ments
|
Total gains and losses in the period recognised in the income
statement
|
Transfers
|
As at
30.06.19
|
||
Trading
income
|
Other
income
|
In
|
Out
|
|||||||
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Government and government sponsored debt
|
14
|
2
|
-
|
-
|
-
|
-
|
-
|
-
|
(14)
|
2
|
Corporate debt
|
388
|
70
|
(24)
|
-
|
(31)
|
14
|
-
|
32
|
(74)
|
375
|
Non-asset backed loans
|
2,263
|
1,235
|
(1,260)
|
-
|
(19)
|
12
|
-
|
19
|
(90)
|
2,160
|
Asset backed securities
|
664
|
81
|
(127)
|
-
|
-
|
5
|
-
|
16
|
(29)
|
610
|
Equity cash products
|
136
|
48
|
(13)
|
-
|
-
|
(2)
|
-
|
116
|
(20)
|
265
|
Other
|
148
|
-
|
-
|
-
|
(1)
|
(10)
|
-
|
-
|
(1)
|
136
|
Trading portfolio assets
|
3,613
|
1,436
|
(1,424)
|
-
|
(51)
|
19
|
-
|
183
|
(228)
|
3,548
|
|
|
|
|
|
|
|
|
|
|
|
Non-asset backed loans
|
5,688
|
2
|
-
|
-
|
(295)
|
248
|
-
|
-
|
(9)
|
5,634
|
Equity cash products
|
559
|
9
|
-
|
-
|
(10)
|
4
|
178
|
-
|
-
|
740
|
Private equity investments
|
1,071
|
21
|
(73)
|
-
|
(1)
|
-
|
43
|
-
|
(148)
|
913
|
Other
|
2,064
|
2,334
|
(2,619)
|
-
|
(2)
|
17
|
9
|
24
|
(840)
|
987
|
Financial assets at fair value through the income
statement
|
9,382
|
2,366
|
(2,692)
|
-
|
(308)
|
269
|
230
|
24
|
(997)
|
8,274
|
|
|
|
|
|
|
|
|
|
|
|
Non-asset backed loans
|
353
|
48
|
-
|
-
|
(55)
|
-
|
-
|
-
|
(218)
|
128
|
Asset backed securities
|
-
|
40
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
40
|
Equity cash products
|
2
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
2
|
Financial assets at fair value through other comprehensive
income
|
355
|
88
|
-
|
-
|
(55)
|
-
|
-
|
-
|
(218)
|
170
|
|
|
|
|
|
|
|
|
|
|
|
Investment property
|
9
|
-
|
-
|
-
|
-
|
-
|
(1)
|
-
|
-
|
8
|
|
|
|
|
|
|
|
|
|
|
|
Trading portfolio liabilities
|
(3)
|
-
|
-
|
-
|
-
|
2
|
-
|
(5)
|
-
|
(6)
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit, commercial paper and other money market
instruments
|
(10)
|
-
|
-
|
-
|
1
|
-
|
(1)
|
(11)
|
-
|
(21)
|
Issued debt
|
(251)
|
-
|
-
|
(16)
|
1
|
5
|
-
|
(3)
|
1
|
(263)
|
Other
|
(19)
|
-
|
-
|
-
|
-
|
-
|
(1)
|
-
|
-
|
(20)
|
Financial liabilities designated at fair value
|
(280)
|
-
|
-
|
(16)
|
2
|
5
|
(2)
|
(14)
|
1
|
(304)
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate derivatives
|
22
|
(3)
|
-
|
-
|
76
|
116
|
-
|
(107)
|
145
|
249
|
Foreign exchange derivatives
|
7
|
-
|
-
|
-
|
(12)
|
(41)
|
-
|
(51)
|
17
|
(80)
|
Credit derivatives
|
1,050
|
(63)
|
4
|
-
|
(3)
|
86
|
-
|
2
|
3
|
1,079
|
Equity derivatives
|
(607)
|
(122)
|
(5)
|
-
|
23
|
89
|
-
|
(16)
|
292
|
(346)
|
Net derivative financial
instruments1
|
472
|
(188)
|
(1)
|
-
|
84
|
250
|
-
|
(172)
|
457
|
902
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
13,548
|
3,702
|
(4,117)
|
(16)
|
(328)
|
545
|
227
|
16
|
(985)
|
12,592
|
1
|
Derivative financial instruments are represented on a net basis. On
a gross basis, derivative financial assets were £5,701m and
derivative financial liabilities were £4,799m.
|
Level 3 movement analysis
|
||||||||||
|
As at
01.01.18
|
Purchases
|
Sales
|
Issues
|
Settle-
ments
|
Total gains and losses in the period recognised in the income
statement
|
Transfers
|
As at
30.06.18
|
||
Trading
income
|
Other
income
|
In
|
Out
|
|||||||
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Government and government sponsored debt
|
49
|
11
|
-
|
-
|
-
|
-
|
-
|
-
|
(35)
|
25
|
Corporate debt
|
871
|
35
|
(17)
|
-
|
(23)
|
6
|
-
|
15
|
(6)
|
881
|
Non-asset backed loans
|
166
|
2,239
|
(239)
|
-
|
-
|
2
|
-
|
11
|
(6)
|
2,173
|
Asset backed securities
|
627
|
100
|
(99)
|
-
|
-
|
(11)
|
-
|
5
|
(30)
|
592
|
Equity cash products
|
68
|
-
|
(7)
|
-
|
-
|
35
|
-
|
75
|
(52)
|
119
|
Other
|
196
|
4
|
(4)
|
-
|
(10)
|
(21)
|
-
|
24
|
(138)
|
51
|
Trading portfolio assets
|
1,977
|
2,389
|
(366)
|
-
|
(33)
|
11
|
-
|
130
|
(267)
|
3,841
|
|
|
|
|
|
|
|
|
|
|
|
Non-asset backed loans
|
6,073
|
16
|
-
|
-
|
(510)
|
(8)
|
-
|
-
|
(4)
|
5,567
|
Equity cash products
|
8
|
11
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
19
|
Private equity investments
|
688
|
295
|
(37)
|
-
|
-
|
-
|
53
|
-
|
(14)
|
985
|
Other
|
750
|
2,359
|
(1,967)
|
-
|
-
|
4
|
110
|
-
|
-
|
1,256
|
Financial assets at fair value through the income
statement
|
7,519
|
2,681
|
(2,004)
|
-
|
(510)
|
(4)
|
163
|
-
|
(18)
|
7,827
|
|
|
|
|
|
|
|
|
|
|
|
Equity cash products
|
36
|
-
|
(17)
|
-
|
-
|
-
|
-
|
-
|
(18)
|
1
|
Private equity investments
|
129
|
-
|
(12)
|
-
|
-
|
-
|
-
|
-
|
(14)
|
103
|
Other
|
40
|
-
|
(39)
|
-
|
-
|
-
|
-
|
-
|
-
|
1
|
Financial assets at fair value through other comprehensive
income
|
205
|
-
|
(68)
|
-
|
-
|
-
|
-
|
-
|
(32)
|
105
|
|
|
|
|
|
|
|
|
|
|
|
Investment property
|
116
|
-
|
(104)
|
-
|
(5)
|
-
|
4
|
-
|
-
|
11
|
|
|
|
|
|
|
|
|
|
|
|
Trading portfolio liabilities
|
(4)
|
-
|
2
|
-
|
-
|
-
|
-
|
2
|
-
|
-
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit, commercial paper and other money market
instruments
|
(250)
|
-
|
202
|
-
|
-
|
-
|
-
|
-
|
-
|
(48)
|
Issued debt
|
(214)
|
-
|
-
|
(4)
|
4
|
19
|
-
|
(219)
|
125
|
(289)
|
Other
|
(16)
|
-
|
16
|
-
|
2
|
-
|
(2)
|
-
|
-
|
-
|
Financial liabilities designated at fair value
|
(480)
|
-
|
218
|
(4)
|
6
|
19
|
(2)
|
(219)
|
125
|
(337)
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate derivatives
|
(150)
|
-
|
-
|
-
|
96
|
(46)
|
-
|
(343)
|
58
|
(385)
|
Foreign exchange derivatives
|
37
|
-
|
-
|
-
|
(17)
|
(30)
|
-
|
8
|
(18)
|
(20)
|
Credit derivatives
|
1,146
|
2
|
3
|
-
|
(15)
|
(210)
|
-
|
1
|
(2)
|
925
|
Equity derivatives
|
(896)
|
22
|
(431)
|
-
|
221
|
129
|
-
|
33
|
175
|
(747)
|
Net derivative financial
instruments1
|
137
|
24
|
(428)
|
-
|
285
|
(157)
|
-
|
(301)
|
213
|
(227)
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
9,470
|
5,094
|
(2,750)
|
(4)
|
(257)
|
(131)
|
165
|
(388)
|
21
|
11,220
|
1
|
Derivative financial instruments are represented on a net basis. On
a gross basis, derivative financial assets were £5,066m and
derivative financial liabilities were £5,293m.
|
|
Half year ended 30.06.19
|
Half year ended 30.06.18
|
||||
|
Income statement
|
Total
|
Income statement
|
Total
|
||
|
Trading
income
|
Other
income
|
Trading
income
|
Other
income
|
||
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Trading portfolio assets
|
21
|
-
|
21
|
(3)
|
-
|
(3)
|
Financial assets at fair value through the income
statement
|
253
|
205
|
458
|
(5)
|
116
|
111
|
Investment properties
|
-
|
(1)
|
(1)
|
-
|
-
|
-
|
Trading portfolio liabilities
|
2
|
-
|
2
|
-
|
-
|
-
|
Financial liabilities designated at fair value
|
6
|
-
|
6
|
18
|
-
|
18
|
Net derivative financial instruments
|
212
|
-
|
212
|
(155)
|
-
|
(155)
|
Total
|
494
|
204
|
698
|
(145)
|
116
|
(29)
|
Sensitivity analysis of valuations using unobservable
inputs
|
||||
|
As at 30.06.19
|
As at 31.12.18
|
||
|
Favourable
changes
|
Unfavourable
changes
|
Favourable
changes
|
Unfavourable
changes
|
|
£m
|
£m
|
£m
|
£m
|
Interest rate derivatives
|
52
|
(118)
|
80
|
(162)
|
Foreign exchange derivatives
|
11
|
(14)
|
7
|
(10)
|
Credit derivatives
|
125
|
(79)
|
126
|
(73)
|
Equity derivatives
|
107
|
(108)
|
110
|
(112)
|
Commodity derivatives
|
1
|
(1)
|
1
|
(1)
|
Corporate debt
|
12
|
(10)
|
10
|
(2)
|
Non-asset backed loans
|
253
|
(529)
|
274
|
(458)
|
Equity cash products
|
130
|
(173)
|
121
|
(155)
|
Private equity investments
|
236
|
(247)
|
230
|
(241)
|
Other1
|
2
|
(2)
|
2
|
(2)
|
Total
|
929
|
(1,281)
|
961
|
(1,216)
|
1
|
Other includes commercial real estate loans, funds and fund-linked
products, asset backed loans, physical commodities and investment
property.
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
|
£m
|
£m
|
Exit price adjustments derived from market bid-offer
spreads
|
(455)
|
(457)
|
Uncollateralised derivative funding
|
(60)
|
(47)
|
Derivative credit valuation adjustments
|
(149)
|
(125)
|
Derivative debit valuation adjustments
|
192
|
237
|
●
|
Uncollateralised
derivative funding increased by £13m to £60m as a result
of changes in underlying derivative
exposures
|
●
|
Derivative credit
valuation adjustments increased by £24m to £149m
as a result of changes in underlying
derivative exposures
|
●
|
Derivative debit
valuation adjustments decreased by £45m to
£192m as a result of
tightening in Barclays’ credit spreads
|
|
As at 30.06.19
|
As at 31.12.18
|
||
|
Carrying
amount
|
Fair value
|
Carrying
amount
|
Fair value
|
Financial assets
|
£m
|
£m
|
£m
|
£m
|
Loans and advances at amortised cost
|
|
|
|
|
- Home loans
|
151,543
|
150,549
|
150,284
|
148,897
|
- Credit cards, unsecured loans and other retail
lending
|
56,304
|
57,822
|
54,560
|
56,462
|
- Finance lease receivables
|
2,035
|
2,178
|
1,886
|
2,057
|
- Corporate loans
|
129,437
|
127,374
|
119,676
|
117,848
|
Reverse repurchase agreements and other similar secured
lending
|
8,990
|
8,990
|
2,308
|
2,308
|
|
|
|
|
|
Financial liabilities
|
|
|
|
|
Deposits at amortised cost
|
|
|
|
|
- Banks
|
(16,975)
|
(16,975)
|
(14,166)
|
(14,166)
|
- Current and demand accounts
|
(152,586)
|
(152,586)
|
(148,714)
|
(148,714)
|
- Savings accounts
|
(138,830)
|
(138,830)
|
(137,589)
|
(137,589)
|
- Other time deposits
|
(105,205)
|
(105,213)
|
(94,369)
|
(94,388)
|
Repurchase agreements and other similar secured
borrowing
|
(18,322)
|
(18,322)
|
(18,578)
|
(18,578)
|
Debt securities in issue
|
(90,815)
|
(92,044)
|
(82,286)
|
(81,687)
|
Subordinated liabilities
|
(18,803)
|
(18,965)
|
(20,559)
|
(21,049)
|
12. Subordinated liabilities
|
||
|
Half year
ended
|
Year ended
|
|
30.06.19
|
31.12.18
|
|
£m
|
£m
|
Opening balance as at 1 January
|
20,559
|
23,826
|
Issuances
|
1,271
|
221
|
Redemptions
|
(3,091)
|
(3,246)
|
Other
|
64
|
(242)
|
Closing balance
|
18,803
|
20,559
|
13. Provisions
|
|
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
|
£m
|
£m
|
PPI redress
|
360
|
888
|
Other customer redress
|
385
|
444
|
Legal, competition and regulatory matters
|
227
|
414
|
Redundancy and restructuring
|
145
|
169
|
Undrawn contractually committed facilities and
guarantees
|
297
|
271
|
Onerous contracts
|
46
|
139
|
Sundry provisions
|
320
|
327
|
Total
|
1,780
|
2,652
|
|
●
|
Customer
initiated claim volumes – claims received but not yet
processed plus an estimate of future claims initiated by customers,
where the increase in volume is anticipated to cease after the PPI
deadline.
|
|
●
|
Average
claim redress – the expected average payment to customers for
upheld claims based on the type and age of the
policy/policies.
|
|
●
|
Processing
cost per claim – the cost of assessing and processing each
valid claim.
|
Assumption
|
Cumulative actual to 30.06.19
|
Future expected policy claims
|
Sensitivity analysis
increase/decrease in provision
|
Customer initiated claims received and processed
(thousands)1
|
2,600
|
134
|
50k = £120m
|
Average uphold rate per claim (%)2
|
89
|
87
|
1% = £3m
|
Average redress per valid claim (£)3
|
2,143
|
2,286
|
£100 = £12m
|
1
|
Total mis-selling claims received by Barclays, including those
received via CMCs but excluding those for which no PPI policy
exists and excluding recent investigations and queries by the
Official Receiver in respect of bankruptcy estates (the impact of
which cannot be reliably estimated at this time) and responses to
proactive mailing. The sensitivity analysis has been calculated to
show the impact of a 50,000 increase or decrease in the number of
customer initiated mis-selling policy claims would have on the
provision level inclusive of operational processing
costs.
|
2
|
Average uphold rate per customer initiated mis-selling claims
received by Barclays and proactive mailings, excluding those for
which no PPI policy exists.
The sensitivity analysis has been calculated to show the impact a
1% change in the average uphold rate per claim would have on the
provision level.
|
3
|
Average redress stated on a per policy basis for future customer
initiated mis-selling complaints received by Barclays.
The
sensitivity analysis has
been calculated to show the impact a £100 increase or decrease
in the average redress per claim would have on the provision
level.
|
Half year ended 30.06.19
|
Ordinary
share capital
£m
|
Share
premium
£m
|
Total share
capital and
share
premium
£m
|
Opening balance as at 1 January
|
4,283
|
28
|
4,311
|
Movement
|
28
|
155
|
183
|
Closing balance
|
4,311
|
183
|
4,494
|
16. Other equity instruments
|
||
|
Half year
ended
|
Year ended
|
|
30.06.19
|
31.12.18
|
|
£m
|
£m
|
Opening balance as at 1 January
|
9,632
|
8,941
|
Issuances
|
2,504
|
1,925
|
Redemptions
|
-
|
(1,233)
|
Other
|
(13)
|
(1)
|
Closing balance
|
12,123
|
9,632
|
17. Other reserves
|
|
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
|
£m
|
£m
|
Currency translation reserve
|
4,065
|
3,888
|
Fair value through other comprehensive income reserve
|
247
|
(258)
|
Cash flow hedging reserve
|
1,188
|
660
|
Own credit reserve
|
(77)
|
(121)
|
Other reserves and treasury shares
|
980
|
984
|
Total
|
6,403
|
5,153
|
18. Contingent liabilities and commitments
|
|
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
Contingent liabilities
|
£m
|
£m
|
Guarantees and letters of credit pledged as collateral
security
|
16,836
|
15,805
|
Performance guarantees, acceptances and endorsements
|
5,921
|
4,498
|
Total
|
22,757
|
20,303
|
|
|
|
Commitments
|
|
|
Documentary credits and other short-term trade related
transactions
|
1,273
|
1,741
|
Standby facilities, credit lines and other commitments
|
333,621
|
322,482
|
Total
|
334,894
|
324,223
|
|
As at
|
As at
|
|
30.06.19
|
31.12.18
|
Assets
|
£m
|
£m
|
Investment in subsidiaries
|
60,902
|
57,374
|
Loans and advances to subsidiaries
|
29,800
|
29,374
|
Financial assets at fair value through the income
statement
|
10,774
|
6,945
|
Derivative financial instruments
|
138
|
168
|
Other assets
|
109
|
115
|
Total assets
|
101,723
|
93,976
|
|
|
|
Liabilities
|
|
|
Deposits at amortised cost
|
519
|
576
|
Debt securities in issue
|
32,489
|
32,373
|
Subordinated liabilities
|
7,976
|
6,775
|
Financial liabilities designated at fair value
|
3,514
|
-
|
Other liabilities
|
99
|
72
|
Total liabilities
|
44,597
|
39,796
|
|
|
|
Equity
|
|
|
Called up share capital
|
4,311
|
4,283
|
Share premium account
|
183
|
28
|
Other equity instruments
|
12,137
|
9,633
|
Other reserves
|
394
|
394
|
Retained earnings
|
40,101
|
39,842
|
Total equity
|
57,126
|
54,180
|
|
|
|
Total liabilities and equity
|
101,723
|
93,976
|
Measure
|
Definition
|
Loan:
deposit ratio
|
Loans
and advances at amortised cost divided by deposits at amortised
cost.
|
Period
end allocated tangible equity
|
Allocated
tangible equity is calculated as 13.0% (2018: 13.0%) of RWAs for
each business, adjusted for capital deductions, excluding goodwill
and intangible assets, reflecting the assumptions the Barclays
Group uses for capital planning purposes. Head Office allocated
tangible equity represents the difference between the Barclays
Group’s tangible shareholders’ equity and the amounts
allocated to businesses.
|
Average
tangible shareholders’ equity
|
Calculated
as the average of the previous month’s period end tangible
equity and the current month’s period end tangible equity.
The average tangible shareholders’ equity for the period is
the average of the monthly averages within that
period.
|
Average
allocated tangible equity
|
Calculated
as the average of the previous month’s period end allocated
tangible equity and the current month’s period end allocated
tangible equity. The average allocated tangible equity for the
period is the average of the monthly averages within that
period.
|
Return
on average tangible shareholders’ equity
|
Annualised
profit after tax attributable to ordinary equity holders of the
parent, as a proportion of average shareholders’ equity
excluding non-controlling interests and other equity instruments
adjusted for the deduction of intangible assets and goodwill. The
components of the calculation have been included on page
85.
|
Return
on average allocated tangible equity
|
Annualised
profit after tax attributable to ordinary equity holders of the
parent, as a proportion of average allocated tangible equity. The
components of the calculation have been included on page
85.
|
Cost:
income ratio
|
Total
operating expenses divided by total income.
|
Loan
loss rate
|
Quoted
in basis points and represents total annualised impairment charges
divided by gross loans and advances held at amortised cost at the
balance sheet date. The components of the calculation have been
included on page 24.
|
Net
interest margin
|
Annualised
net interest income divided by the sum of average customer assets.
The components of the calculation have been included on page
22.
|
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
93.
|
Performance
measures excluding litigation and conduct
|
Calculated
by excluding litigation and conduct charges from performance
measures. The components of the calculations have been included on
pages 86 to 93.
|
|
Profit/(loss) attributable to ordinary equity holders of the
parent
|
|
Average tangible equity
|
|
Return on average tangible equity
|
Half year ended 30.06.19
|
£m
|
|
£bn
|
|
%
|
Barclays UK
|
750
|
|
10.3
|
|
14.5
|
Corporate and Investment Bank
|
1,178
|
|
25.5
|
|
9.3
|
Consumer, Cards and Payments
|
442
|
|
5.3
|
|
16.6
|
Barclays International
|
1,620
|
|
30.8
|
|
10.5
|
Head Office
|
(298)
|
|
4.6
|
|
n/m
|
Barclays Group
|
2,072
|
|
45.7
|
|
9.1
|
|
|
|
|
|
|
Half year ended 30.06.18
|
|
|
|
|
|
Barclays UK
|
447
|
|
10.0
|
|
9.0
|
Corporate and Investment Bank
|
1,434
|
|
26.0
|
|
11.0
|
Consumer, Cards and Payments
|
499
|
|
4.7
|
|
21.2
|
Barclays International
|
1,933
|
|
30.7
|
|
12.6
|
Head Office
|
(1,819)
|
|
3.1
|
|
n/m
|
Barclays Group
|
561
|
|
43.8
|
|
2.6
|
Performance measures excluding litigation and conduct
|
||||||
|
|
|
|
|
|
|
|
Half year ended 30.06.19
|
|||||
|
Barclays UK
|
Corporate and Investment Bank
|
Consumer, Cards and Payments
|
Barclays International
|
Head Office
|
Barclays Group
|
Cost: income ratio
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Total operating expenses
|
(2,065)
|
(3,505)
|
(1,166)
|
(4,671)
|
(136)
|
(6,872)
|
Impact of litigation and conduct
|
44
|
26
|
4
|
30
|
40
|
114
|
Operating expenses
|
(2,021)
|
(3,479)
|
(1,162)
|
(4,641)
|
(96)
|
(6,758)
|
|
|
|
|
|
|
|
Total income
|
3,548
|
5,300
|
2,173
|
7,473
|
(231)
|
10,790
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
57%
|
66%
|
53%
|
62%
|
n/m
|
63%
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
Profit/(loss) before tax
|
1,062
|
1,714
|
627
|
2,341
|
(389)
|
3,014
|
Impact of litigation and conduct
|
44
|
26
|
4
|
30
|
40
|
114
|
Profit/(loss) before tax excluding litigation and
conduct
|
1,106
|
1,740
|
631
|
2,371
|
(349)
|
3,128
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
Attributable profit/(loss)
|
750
|
1,178
|
442
|
1,620
|
(298)
|
2,072
|
Post-tax impact of litigation and conduct
|
32
|
21
|
3
|
24
|
30
|
86
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
782
|
1,199
|
445
|
1,644
|
(268)
|
2,158
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Average shareholders' equity
|
13.9
|
25.5
|
6.4
|
31.9
|
7.9
|
53.7
|
Average goodwill and intangibles
|
(3.6)
|
-
|
(1.1)
|
(1.1)
|
(3.3)
|
(8.0)
|
Average tangible shareholders' equity
|
10.3
|
25.5
|
5.3
|
30.8
|
4.6
|
45.7
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity excluding
litigation and conduct
|
15.1%
|
9.4%
|
16.7%
|
10.7%
|
n/m
|
9.4%
|
|
|
|
|
|
|
|
Basic earnings per ordinary share
|
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
|
|
|
|
|
17,178
|
|
|
|
|
|
|
|
Basic earnings per ordinary share excluding litigation and
conduct
|
|
|
|
|
|
12.6p
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Half year 30.06.18
|
|||||
|
Barclays UK
|
Corporate and Investment Bank
|
Consumer, Cards and Payments
|
Barclays International
|
Head Office
|
Barclays Group
|
Cost: income ratio
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Total operating expenses
|
(2,387)
|
(3,559)
|
(1,109)
|
(4,668)
|
(1,661)
|
(8,716)
|
Impact of litigation and conduct
|
414
|
13
|
49
|
62
|
1,566
|
2,042
|
Operating expenses
|
(1,973)
|
(3,546)
|
(1,060)
|
(4,606)
|
(95)
|
(6,674)
|
|
|
|
|
|
|
|
Total income
|
3,624
|
5,379
|
2,136
|
7,515
|
(205)
|
10,934
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
54%
|
66%
|
50%
|
61%
|
n/m
|
61%
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
Profit/(loss) before tax
|
826
|
2,010
|
700
|
2,710
|
(1,877)
|
1,659
|
Impact of litigation and conduct
|
414
|
13
|
49
|
62
|
1,566
|
2,042
|
Profit/(loss) before tax excluding litigation and
conduct
|
1,240
|
2,023
|
749
|
2,772
|
(311)
|
3,701
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
Attributable profit/(loss)
|
447
|
1,434
|
499
|
1,933
|
(1,819)
|
561
|
Post-tax impact of litigation and conduct
|
412
|
10
|
36
|
46
|
1,531
|
1,989
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
859
|
1,444
|
535
|
1,979
|
(288)
|
2,550
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Average shareholders' equity
|
13.5
|
26.3
|
5.8
|
32.1
|
6.1
|
51.7
|
Average goodwill and intangibles
|
(3.5)
|
(0.3)
|
(1.1)
|
(1.4)
|
(2.9)
|
(7.8)
|
Average tangible shareholders' equity
|
10.0
|
26.0
|
4.7
|
30.7
|
3.1
|
43.8
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity excluding
litigation and conduct
|
17.3%
|
11.1%
|
22.7%
|
12.9%
|
n/m
|
11.6%
|
|
|
|
|
|
|
|
Basic earnings per ordinary share
|
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
|
|
|
|
|
17,067
|
|
|
|
|
|
|
|
Basic earnings per ordinary share excluding litigation and
conduct
|
|
|
|
|
|
14.9p
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Cost: income ratio
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Total operating expenses
|
(3,554)
|
(3,318)
|
|
(4,093)
|
(3,434)
|
(3,391)
|
(5,325)
|
|
(4,369)
|
(3,355)
|
Impact of litigation and conduct
|
53
|
61
|
|
60
|
105
|
81
|
1,961
|
|
383
|
81
|
Operating expenses
|
(3,501)
|
(3,257)
|
|
(4,033)
|
(3,329)
|
(3,310)
|
(3,364)
|
|
(3,986)
|
(3,274)
|
|
|
|
|
|
|
|
|
|
|
|
Total income
|
5,538
|
5,252
|
|
5,073
|
5,129
|
5,576
|
5,358
|
|
5,022
|
5,173
|
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
63%
|
62%
|
|
79%
|
65%
|
59%
|
63%
|
|
79%
|
63%
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) before tax
|
1,531
|
1,483
|
|
374
|
1,461
|
1,895
|
(236)
|
|
93
|
1,107
|
Impact of litigation and conduct
|
53
|
61
|
|
60
|
105
|
81
|
1,961
|
|
383
|
81
|
Profit before tax excluding litigation and conduct
|
1,584
|
1,544
|
|
434
|
1,566
|
1,976
|
1,725
|
|
476
|
1,188
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
1,034
|
1,038
|
|
(14)
|
1,050
|
1,279
|
(718)
|
|
(1,245)
|
626
|
Post-tax impact of litigation and conduct
|
40
|
46
|
|
62
|
85
|
59
|
1,930
|
|
351
|
77
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
1,074
|
1,084
|
|
48
|
1,135
|
1,338
|
1,212
|
|
(894)
|
703
|
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Average shareholders' equity
|
54.0
|
53.2
|
|
52.2
|
52.5
|
51.3
|
52.0
|
|
55.9
|
56.6
|
Average goodwill and intangibles
|
(7.8)
|
(8.0)
|
|
(7.9)
|
(7.9)
|
(7.8)
|
(7.8)
|
|
(7.8)
|
(7.8)
|
Average tangible shareholders' equity
|
46.2
|
45.2
|
|
44.3
|
44.6
|
43.5
|
44.2
|
|
48.1
|
48.9
|
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity excluding
litigation and conduct
|
9.3%
|
9.6%
|
|
0.4%
|
10.2%
|
12.3%
|
11.0%
|
|
(7.4%)
|
5.7%
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per ordinary share
|
|
|
|
|
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
17,178
|
17,111
|
|
17,075
|
17,074
|
17,067
|
17,037
|
|
16,996
|
16,994
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings/(loss) per ordinary share excluding litigation and
conduct
|
6.3p
|
6.3p
|
|
0.3p
|
6.6p
|
7.8p
|
7.1p
|
|
(5.3p)
|
4.1p
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Cost: income ratio
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Total operating expenses
|
(1,063)
|
(1,002)
|
|
(1,175)
|
(1,042)
|
(971)
|
(1,416)
|
|
(1,229)
|
(991)
|
Impact of litigation and conduct
|
41
|
3
|
|
15
|
54
|
3
|
411
|
|
53
|
11
|
Operating expenses
|
(1,022)
|
(999)
|
|
(1,160)
|
(988)
|
(968)
|
(1,005)
|
|
(1,176)
|
(980)
|
|
|
|
|
|
|
|
|
|
|
|
Total income
|
1,771
|
1,777
|
|
1,863
|
1,896
|
1,836
|
1,788
|
|
1,870
|
1,852
|
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
58%
|
56%
|
|
62%
|
52%
|
53%
|
56%
|
|
63%
|
53%
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
477
|
585
|
|
390
|
740
|
656
|
170
|
|
452
|
661
|
Impact of litigation and conduct
|
41
|
3
|
|
15
|
54
|
3
|
411
|
|
53
|
11
|
Profit before tax excluding litigation and conduct
|
518
|
588
|
|
405
|
794
|
659
|
581
|
|
505
|
672
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
328
|
422
|
|
241
|
510
|
473
|
(26)
|
|
258
|
432
|
Post-tax impact of litigation and conduct
|
30
|
2
|
|
12
|
48
|
1
|
411
|
|
37
|
8
|
Profit attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
358
|
424
|
|
253
|
558
|
474
|
385
|
|
295
|
440
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Average allocated equity
|
13.8
|
13.9
|
|
13.6
|
13.7
|
13.6
|
13.4
|
|
13.1
|
14.0
|
Average goodwill and intangibles
|
(3.5)
|
(3.5)
|
|
(3.5)
|
(3.6)
|
(3.5)
|
(3.5)
|
|
(3.5)
|
(4.6)
|
Average allocated tangible equity
|
10.3
|
10.4
|
|
10.1
|
10.1
|
10.1
|
9.8
|
|
9.6
|
9.4
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
13.9%
|
16.4%
|
|
10.1%
|
22.0%
|
18.8%
|
15.7%
|
|
12.3%
|
18.7%
|
Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Cost: income ratio
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Total operating expenses
|
(2,446)
|
(2,225)
|
|
(2,684)
|
(2,309)
|
(2,353)
|
(2,315)
|
|
(2,948)
|
(2,187)
|
Impact of litigation and conduct
|
11
|
19
|
|
33
|
32
|
47
|
15
|
|
255
|
5
|
Operating expenses
|
(2,435)
|
(2,206)
|
|
(2,651)
|
(2,277)
|
(2,306)
|
(2,300)
|
|
(2,693)
|
(2,182)
|
|
|
|
|
|
|
|
|
|
|
|
Total income
|
3,903
|
3,570
|
|
3,221
|
3,290
|
3,707
|
3,808
|
|
3,319
|
3,315
|
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
62%
|
62%
|
|
82%
|
69%
|
62%
|
60%
|
|
81%
|
66%
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
1,223
|
1,118
|
|
215
|
850
|
1,297
|
1,413
|
|
6
|
652
|
Impact of litigation and conduct
|
11
|
19
|
|
33
|
32
|
47
|
15
|
|
255
|
5
|
Profit before tax excluding litigation and conduct
|
1,234
|
1,137
|
|
248
|
882
|
1,344
|
1,428
|
|
261
|
657
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
832
|
788
|
|
(21)
|
687
|
926
|
1,007
|
|
(1,134)
|
391
|
Post-tax impact of litigation and conduct
|
8
|
16
|
|
34
|
26
|
34
|
12
|
|
250
|
4
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
840
|
804
|
|
13
|
713
|
960
|
1,019
|
|
(884)
|
395
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Average allocated equity
|
32.1
|
31.6
|
|
32.4
|
32.5
|
32.8
|
31.4
|
|
29.9
|
31.5
|
Average goodwill and intangibles
|
(1.0)
|
(1.1)
|
|
(1.1)
|
(1.3)
|
(1.4)
|
(1.4)
|
|
(1.4)
|
(2.6)
|
Average allocated tangible equity
|
31.1
|
30.5
|
|
31.3
|
31.1
|
31.4
|
30.1
|
|
28.5
|
28.9
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
10.8%
|
10.6%
|
|
0.2%
|
9.2%
|
12.2%
|
13.6%
|
|
(12.4%)
|
5.5%
|
Corporate and Investment Bank
|
|
|
|
|
|
|
|
|||
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Cost: income ratio
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Total operating expenses
|
(1,867)
|
(1,638)
|
|
(2,046)
|
(1,744)
|
(1,773)
|
(1,786)
|
|
(2,384)
|
(1,661)
|
Impact of litigation and conduct
|
7
|
19
|
|
23
|
32
|
-
|
13
|
|
255
|
5
|
Operating expenses
|
(1,860)
|
(1,619)
|
|
(2,023)
|
(1,712)
|
(1,773)
|
(1,773)
|
|
(2,129)
|
(1,656)
|
|
|
|
|
|
|
|
|
|
|
|
Total income
|
2,795
|
2,505
|
|
2,151
|
2,235
|
2,580
|
2,799
|
|
2,252
|
2,280
|
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
67%
|
65%
|
|
94%
|
77%
|
69%
|
63%
|
|
95%
|
73%
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) before tax
|
887
|
827
|
|
85
|
498
|
835
|
1,175
|
|
(252)
|
593
|
Impact of litigation and conduct
|
7
|
19
|
|
23
|
32
|
-
|
13
|
|
255
|
5
|
Profit before tax excluding litigation and conduct
|
894
|
846
|
|
108
|
530
|
835
|
1,188
|
|
3
|
598
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
596
|
582
|
|
(84)
|
431
|
600
|
834
|
|
(1,227)
|
368
|
Post-tax impact of litigation and conduct
|
5
|
16
|
|
27
|
25
|
-
|
10
|
|
250
|
4
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
601
|
598
|
|
(57)
|
456
|
600
|
844
|
|
(977)
|
372
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Average allocated equity
|
25.8
|
25.2
|
|
26.0
|
26.2
|
26.7
|
25.9
|
|
24.7
|
25.8
|
Average goodwill and intangibles
|
-
|
(0.1)
|
|
-
|
(0.2)
|
(0.3)
|
(0.3)
|
|
(0.4)
|
(1.1)
|
Average allocated tangible equity
|
25.8
|
25.1
|
|
26.0
|
25.9
|
26.4
|
25.6
|
|
24.3
|
24.8
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
9.3%
|
9.5%
|
|
(0.9%)
|
7.0%
|
9.1%
|
13.2%
|
|
(16.1%)
|
6.0%
|
Consumer, Cards and Payments
|
|
|
|
|
|
|
|
|
|
|
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Cost: income ratio
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Total operating expenses
|
(579)
|
(587)
|
|
(638)
|
(565)
|
(580)
|
(529)
|
|
(564)
|
(526)
|
Impact of litigation and conduct
|
4
|
-
|
|
10
|
-
|
47
|
2
|
|
-
|
-
|
Operating expenses
|
(575)
|
(587)
|
|
(628)
|
(565)
|
(533)
|
(527)
|
|
(564)
|
(526)
|
|
|
|
|
|
|
|
|
|
|
|
Total income
|
1,108
|
1,065
|
|
1,070
|
1,055
|
1,127
|
1,009
|
|
1,067
|
1,035
|
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
52%
|
55%
|
|
59%
|
54%
|
47%
|
52%
|
|
53%
|
51%
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
336
|
291
|
|
130
|
352
|
462
|
238
|
|
258
|
59
|
Impact of litigation and conduct
|
4
|
-
|
|
10
|
-
|
47
|
2
|
|
-
|
-
|
Profit before tax excluding litigation and conduct
|
340
|
291
|
|
140
|
352
|
509
|
240
|
|
258
|
59
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable profit
|
236
|
206
|
|
63
|
256
|
326
|
173
|
|
93
|
23
|
Post-tax impact of litigation and conduct
|
3
|
-
|
|
7
|
1
|
34
|
2
|
|
-
|
-
|
Profit attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
239
|
206
|
|
70
|
257
|
360
|
175
|
|
93
|
23
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Average allocated equity
|
6.3
|
6.4
|
|
6.4
|
6.3
|
6.0
|
5.5
|
|
5.3
|
5.7
|
Average goodwill and intangibles
|
(1.0)
|
(1.0)
|
|
(1.1)
|
(1.1)
|
(1.1)
|
(1.0)
|
|
(1.1)
|
(1.5)
|
Average allocated tangible equity
|
5.3
|
5.4
|
|
5.3
|
5.2
|
5.0
|
4.5
|
|
4.2
|
4.2
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
18.0%
|
15.4%
|
|
5.4%
|
19.9%
|
28.9%
|
15.7%
|
|
9.0%
|
2.2%
|
Head Office
|
|
|
|
|
|
|
|
|
||
|
Q219
|
Q119
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Profit before tax
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Loss before tax
|
(169)
|
(220)
|
|
(231)
|
(129)
|
(58)
|
(1,819)
|
|
(365)
|
(206)
|
Impact of litigation and conduct
|
1
|
39
|
|
12
|
19
|
31
|
1,535
|
|
75
|
65
|
Loss before tax excluding litigation and conduct
|
(168)
|
(181)
|
|
(219)
|
(110)
|
(27)
|
(284)
|
|
(290)
|
(141)
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable loss
|
(126)
|
(172)
|
|
(234)
|
(147)
|
(120)
|
(1,699)
|
|
(369)
|
(197)
|
Post-tax impact of litigation and conduct
|
2
|
28
|
|
16
|
11
|
24
|
1,507
|
|
64
|
65
|
Attributable loss excluding litigation and conduct
|
(124)
|
(144)
|
|
(218)
|
(136)
|
(96)
|
(192)
|
|
(305)
|
(132)
|
Tangible net asset value
|
|
|
|
|
As at 30.06.19
|
As at 31.12.18
|
As at 30.06.18
|
|
£m
|
£m
|
£m
|
Total equity excluding non-controlling interests
|
67,576
|
62,556
|
61,055
|
Other equity instruments
|
(12,123)
|
(9,632)
|
(8,938)
|
Goodwill and intangibles
|
(7,993)
|
(7,973)
|
(7,871)
|
Tangible shareholders' equity attributable to ordinary shareholders
of the parent
|
47,460
|
44,951
|
44,246
|
|
|
|
|
|
m
|
m
|
m
|
Shares in issue
|
17,245
|
17,133
|
17,110
|
|
|
|
|
|
p
|
p
|
p
|
Tangible net asset value per share
|
275
|
262
|
259
|
|
|
|
|
|
|
Results timetable1
|
|
|
Date
|
|
|
Ex-dividend date
|
|
|
8 August 2019
|
||
Dividend record date
|
|
|
9 August 2019
|
||
Scrip reference share price set and made available to
shareholders
|
|
|
15 August 2019
|
||
Cut off time of 4.30 pm (UK time) for the receipt of Mandate Forms
or Revocation Forms (as applicable)
|
|
|
23 August 2019
|
||
Dividend payment date/first day of dealing in new
shares
|
|
|
23 September 2019
|
||
Q3 2019 Results Announcement
|
|
|
25 October 2019
|
||
|
|
|
|
|
|
For qualifying US and Canadian resident ADR holders, the half year
dividend of 3.0p per ordinary share becomes 12.0p per ADS
(representing four shares). The ex-dividend, dividend record and
dividend payment dates for ADR holders are as shown
above.
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% Change3
|
|||
Exchange rates2
|
30.06.19
|
31.12.18
|
30.06.18
|
31.12.18
|
30.06.18
|
Period end - USD/GBP
|
1.27
|
1.28
|
1.32
|
(1%)
|
(4%)
|
6 month average - USD/GBP
|
1.29
|
1.29
|
1.38
|
-
|
(7%)
|
3 month average - USD/GBP
|
1.29
|
1.29
|
1.36
|
-
|
(5%)
|
Period end - EUR/GBP
|
1.12
|
1.12
|
1.13
|
-
|
(1%)
|
6 month average - EUR/GBP
|
1.15
|
1.12
|
1.14
|
3%
|
1%
|
3 month average - EUR/GBP
|
1.14
|
1.13
|
1.14
|
1%
|
-
|
|
|
|
|
|
|
Share price data
|
|
|
|
|
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Barclays PLC (p)
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149.80
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150.52
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189.00
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Barclays PLC number of shares (m)
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17,245
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17,133
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17,110
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For further information please contact
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Investor relations
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Media relations
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Lisa Bartrip +44 (0) 20 7773 0708
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Thomas Hoskin +44 (0) 20 7116 4755
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More information on Barclays can be found on our website:
home.barclays.
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Registered office
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1 Churchill Place, London, E14 5HP, United Kingdom. Tel: +44 (0) 20
7116 1000. Company number: 48839.
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Registrar
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Equiniti,
Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA, United
Kingdom.
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Tel:
0371 384 20554 from the UK or +44
121 415 7004 from overseas.
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American
Depositary Receipts (ADRs)
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J.P.Morgan
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Tel:
+1 800 990 1135 (toll free in US and Canada), +1 651 453 2128
(outside the US and Canada) or +1 651 453 2133 (for the hearing
impaired).
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https://shareowneronline.equiniti.com/UserManagement/ContactUs.aspx
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J.P.Morgan Chase
Bank N.A., Shareholder Services, PO Box 64504, St. Paul, MN
55164-0504, USA.
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1
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Note that these dates are provisional and subject to change. Any
changes to the Scrip Dividend Programme dates will be made
available at
home.barclays/dividends.
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2
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The average rates shown above are derived from daily spot rates
during the year.
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3.
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The change is the impact to GBP reported information
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4
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Lines open 8.30am to 5.30pm (UK time), Monday to Friday, excluding
UK public holidays in England and Wales.
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