barc201407106k.htm
 
UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549
 
 
FORM 6-K
 
 
REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934
 
July 10, 2014
 
Barclays PLC and

Barclays Bank PLC
(Names of Registrants)
 
 
 1 Churchill Place

London E14 5HP
England
(Address of Principal Executive Offices)

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

 
Form 20-F x           Form 40-F

 
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 
Yes           No x

 
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):

 
This Report is a joint Report on Form 6-K filed by Barclays PLC and Barclays
Bank PLC. All of the issued ordinary share capital of Barclays Bank PLC is
owned by Barclays PLC.

 
This Report comprises:

 
Information given to The London Stock Exchange and furnished pursuant to
General Instruction B to the General Instructions to Form 6-K.


 
 
EXHIBIT INDEX
Barclays announces Barclays Q1 2014, 2013 & 2012 Results Restatement - dated 10 July 2014
 




SIGNATURES

 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, each of the registrants has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
 
 
 
BARCLAYS PLC
(Registrant)

 
Date: July 10, 2014
 
 
By: /s/ Patrick Gonsalves
----------------------
Patrick Gonsalves
Deputy Secretary
 
 
 
 
BARCLAYS BANK PLC
(Registrant)



Date: July 10, 2014
By: /s/ Patrick Gonsalves
----------------------
Patrick Gonsalves
Joint Secretary
 





 
Barclays PLC
 
 
Group Reporting Changes
 
 
Q1 2014, 2013 & 2012 Results Restatement Document
 


Table of Contents

 
Restatement Document
Page
Overview of Reporting Changes
4
Performance Highlights
8
Barclays Results by Quarter
11
Results by Business
  
—  Personal and Corporate Banking
12
—  Barclaycard
16
—  Africa Banking
18
—  Investment Bank
20
—  Head Office
22
—  Barclays Non-Core
 
24
Appendix I – Performance Management
26
Appendix II – CRD IV RWAs
29
 
 
BARCLAYS PLC, 1 CHURCHILL PLACE, LONDON, E14 5HP, UNITED KINGDOM. TELEPHONE: +44 (0) 20 7116 1000. COMPANY NO. 48839

Notes
 
The term Barclays or Group refers to Barclays PLC together with its subsidiaries. Balance sheet comparative figures have been restated to adopt the offsetting amendments to IAS 32, Financial Instruments: Presentation. The abbreviations £m and £bn represent millions and thousands of millions of Pounds Sterling.
 
Adjusted profit before tax, adjusted attributable profit and adjusted performance metrics have been presented to provide a more consistent basis for comparing business performance between periods. Adjusting items are considered to be significant and not representative of the underlying business performance. Items excluded from the adjusted measures are: the impact of own credit; disposal of the investment in BlackRock, Inc; the provision for Payment Protection Insurance redress payments and claims management costs (PPI redress); the provision for interest rate hedging products redress and claims management costs (interest rate hedging products redress); and goodwill impairment.
 
All capital measures, risk weighted assets and leverage disclosures are on a CRD IV basis unless otherwise stated.
 
Relevant terms that are used in this document but are not defined under applicable regulatory guidance or International Financial Reporting Standards (IFRS) are explained in the Results glossary that can be accessed at www.Barclays.com/results.
 
The information in this announcement does not comprise statutory accounts within the meaning of Section 434 of the Companies Act 2006. Statutory accounts for the year ended 31 December 2013, which included certain information required for the Joint Annual Report on Form 20-F of Barclays PLC and Barclays Bank PLC to the SEC and which contained an unqualified audit report under Section 495 of the Companies Act 2006 and which did not make any statements under Section 498 of the Companies Act 2006, have been delivered to the Registrar of Companies in accordance with Section 441 of the Companies Act 2006.
 
Forward-looking Statements

This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and Section 27A of the US Securities Act of 1933, as amended, with respect to certain of the Barclays PLC’s and its subsidiaries’ (the Group) plans and its current goals and expectations relating to its future financial condition and performance. Barclays cautions readers that no forward-looking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as ‘may’, ‘will’, ‘seek’, ‘continue’, ‘aim’, ‘anticipate’, ‘target’, ‘projected’, ‘expect’, ‘estimate’, ‘intend’, ‘plan’, ‘goal’, ‘believe’, ‘achieve’ or other words of similar meaning. Examples of forward-looking statements include, among others, statements regarding the Group’s future financial position, income growth, assets, impairment charges and provisions, business strategy, capital, leverage and other regulatory ratios, payment of dividends (including dividend pay-out ratios), projected levels of growth in the banking and financial markets, projected costs or savings, original and revised commitments and targets in connection with the Transform Programme and Group Strategy Update, run-down of assets and businesses within Barclays Non-Core, estimates of capital expenditures and plans and objectives for future operations, projected employee numbers and other statements that are not historical fact. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. These may be affected by changes in legislation, the development of standards and interpretations under International Financial Reporting Standards (IFRS), evolving practices with regard to the interpretation and application of accounting and regulatory standards, the outcome of current and future legal proceedings and regulatory investigations, future levels of conduct provisions, the policies and actions of governmental and regulatory authorities, geopolitical risks and the impact of competition. In addition, factors including (but not limited to) the following may have an effect: capital, leverage and other regulatory rules (including with regard to the future structure of the Group) applicable to past, current and future periods; UK, US, Africa Eurozone and global macroeconomic and business conditions; the effects of continued volatility in credit markets; market related risks such as changes in interest rates and foreign exchange rates; effects of changes in valuation of credit market exposures; changes in valuation of issued securities; volatility in capital markets; changes in credit ratings of the Group; the potential for one or more countries exiting the Eurozone; the implementation of the Transform Programme; and the success of future acquisitions, disposals and other strategic transactions. A number of these influences and factors are beyond the Group’s control. As a result, the Group’s actual future results, dividend payments, and capital and leverage ratios may differ materially from the plans, goals, and expectations set forth in the Group’s forward-looking statements. Additional risks and factors are identified in our filings with the US Securities and Exchange Commission  (SEC) including our Annual Report on Form 20-F for the fiscal year ended 31 December 2013 and our quarterly results to 31 March 2014 on form 6-K, which are available on the SEC’s website at http://www.sec.gov.

Any forward-looking statements made herein speak only as of the date they are made and it should not be assumed that they have been revised or updated in the light of new information or future events. Except as required by the Prudential Regulation Authority, the Financial Conduct Authority, the London Stock Exchange plc (the LSE) or applicable law, Barclays expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Barclays’ expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. The reader should, however, consult any additional disclosures that Barclays has made or may make in documents it has published or may publish via the Regulatory News Service of the LSE and/or has filed or may file with the US Securities and Exchange Commission.
 
Overview of reporting changes
 
This document provides further details of the impact on the Group’s financial reporting as a result of the business reorganisation outlined in the Group Strategy Update on 8 May 2014.

Barclays will now focus on four Core businesses:
·  
Personal and Corporate Banking;
·  
Barclaycard;
·  
Africa Banking; and
·  
Investment Bank.

A Non-Core segment has also been created, consisting of businesses and assets which are no longer considered a strategic fit with the Core business of Barclays. This segment comprises three main elements:
·  
Parts of the Investment Bank;
·  
All of Europe Retail; and
·  
Parts of the Corporate Bank in Europe and the Middle East, and certain long-dated Corporate loans.

The document outlines the impact on the Group’s segmental results from the Group structure changes and the subsequent reallocation of elements of the Head Office results to the businesses post the resegmentation. While the Head Office allocation and resegmentation affects the reported results of the individual businesses, they have no impact on the Group’s primary financial statements.

As Management principally reviews adjusting items at a Group level, segmental results are presented on an adjusted basis in accordance with IFRS 8 Operating Segments.  Statutory and adjusted performance is reconciled at a Group level only. 

A summary of the financial results for the resegmented Group for the year ended 31 December 2013 is shown in the table below:

2013 Barclays Results  
Adjusted 
  
Personal & Corporate Banking
Barclaycard
Africa Banking
Investment Bank
Head Office 
Barclays Core
Barclays Non-Core 
Barclays Group
  
£m
£m
£m
£m
£m 
£m
£m 
£m
Total income net of insurance claims 
8,723 
4,103 
4,039 
8,855 
142  
25,862 
2,293  
28,155 
Credit impairment (charges)/releases and other provisions  
(621)
(1,096)
(479)
22 
3  
(2,171)
(900) 
(3,071)
Net operating income  
8,102 
3,007 
3,560 
8,877 
145  
23,691 
1,393  
25,084 
Operating expenses (excluding UK bank levy and costs to achieve Transform) 
(5,460)
(1,786)
(2,451)
(6,172)
(113) 
(15,982)
(2,198) 
(18,180)
UK bank levy 
(66)
(22)
(42)
(236)
(29) 
(395)
(109) 
(504)
Costs to achieve Transform 
(384)
(49)
(26)
(190)
(22) 
(671)
(538) 
(1,209)
Operating expenses 
(5,910)
(1,857)
(2,519)
(6,598)
(164) 
(17,048)
(2,845) 
(19,893)
Other net income/(expense) 
41 
33 
8 
- 
4  
86 
(110) 
(24)
Profit/(loss) before tax  
2,233 
1,183 
1,049 
2,279 
(15) 
6,729 
(1,562) 
5,167 
Attributable profit/(loss) 
1,681 
822 
356 
1,515 
(89) 
4,285 
(1,890) 
2,395 
  
        
  
  
  
  
Performance Measures 
        
  
  
  
  
Return on average tangible equity 
12.7%
19.9%
11.3%
9.8%
2.9%1 
15.1%
(9.8%)1 
5.3%
Return on average equity 
9.7%
15.5%
8.1%
9.4%
1.8%1 
11.9%
(7.4%)1 
4.5%
Cost: income ratio 
68%
45%
62%
75%
  
66%
124% 
71%
Loan loss rate (bps) 
28 
332 
128 
(2)
  
55 
107  
64 
   
        
  
  
  
  
Capital Management (£bn) 
        
  
  
  
  
Risk weighted assets - fully loaded CRD IV 
118 
36 
38 
126 
8  
326 
110  
436 
Average allocated tangible equity 
13 
4 
3 
15 
(8) 
28 
17  
45 
Average allocated equity 
17 
5 
4 
16 
(7) 
36 
17  
53 

 
1  
Return on average equity and average tangible equity for Head Office and Barclays Non-Core represents the dilution for Barclays Core and the Group respectively. The change in Barclays Non-Core return on average equity dilution, as compared to the Group Strategy Update on 8 May 2014, includes the transfer, to the Investment Bank, of the £259m gain recognised in Q2 2013 in respect of assets not yet received from the 2008 US Lehman acquisition. As the majority of the activities acquired in 2008 form part of the ongoing core Investment Bank activities and as a direct consequence of the acquisition, it has been determined more appropriate to include this gain within the Investment Bank comparative.
 

Overview of reporting changes
 
Segmental restatements
 
Group Structure changes
 
In this document the Q1 2014, full year 2013 and full year 2012 segmental results have been restated to align to the new organisational structure announced on 8 May 2014:
 
Personal and Corporate Banking combines core elements of UK Retail and Business Banking, global Wealth and Investment Management, and global Corporate Banking. Transfers to the Non-Core segment include the UK retail insurance underwriting and investment businesses; selected non-core corporate banking in Europe and the Middle East and certain long-dated corporate loans; local Wealth operations in certain overseas locations; and certain asset management businesses. The African businesses of Corporate Banking and Wealth Management have been moved to Africa Banking. 

Barclaycard is largely unchanged, with the exception of the Africa Cards business moving to Africa Banking and the UK secured lending portfolio moving to Non-Core.

Africa Banking aligns the reporting of the business to how it is now managed. The previously reported Africa Retail and Business Banking has been combined with the other businesses across Africa previously reported within Barclaycard, the Investment Bank, Corporate Banking and Wealth Management.  The Africa Head Office function has also been transferred to Africa Banking.  This combined Africa Banking business is managed under three primary businesses: Retail and Business Banking; Wealth, Investment Management and Insurance; and Corporate and Investment Banking.  The resulting African business comprises the Barclays Africa Group Limited (BAGL) listed entity, together with Barclays Egypt and Zimbabwe businesses.

The Investment Bank now consists of origination led and returns focused markets and banking businesses. Non-strategic and lower returning businesses have been moved to the Non-Core segment and the African Investment Banking business has been moved to Africa Banking. Investment Bank treasury operations have been moved to be reported where they are now managed alongside the Group treasury operations within Head Office and Other Operations.

Head Office and Other Operations is largely unchanged with the exception of the addition of Investment Bank treasury operations and the transfer of the Africa Head Office function.

Barclays Non-Core (BNC) groups together businesses and assets that are not strategically attractive to Barclays and that will be exited over time.

Businesses have been placed in BNC on the basis of two criteria:
·  
Strategic focus – businesses and portfolios that do not fit with our strategic customer franchise or are a poor fit with our sources of competitive advantage; and
·  
Returns on CRD IV capital and leverage exposure - businesses and portfolios that are capital and/or leverage intensive, with high cost structures, and do not expect to meet our return targets over the medium term.



Overview of reporting changes
 
BNC definition and allocations
 
Key judgments around the allocation of activity and related financial metrics between Core segments and BNC include the following:
 
Income

Where entire business lines have been determined not to be strategically attractive, they have been placed within BNC.  In other areas, particularly within the Investment Bank, particular assets or areas of activity have been identified not to be strategically attractive and similarly placed within BNC.  In certain instances, this has involved some judgment including, in particular, the two areas outlined below:

Fixed Income Financing
Following the Strategic Update, the core Fixed Income Financing business has been mandated to operate within limits defined by utilisation of leverage balance sheet.  The Group’s overall level of activity in this area will be reduced to come in line with these limits over time.  Until then, activity in excess of the Investment Bank’s mandate is Non-Core and BNC has assumed responsibility for that activity.  This principally comprises the transfer of a proportion of the portfolio from the Investment Bank to BNC on arm’s length terms.  In addition, over time, specific asset types within the Fixed Income Financing business that are not aligned to the firm’s ongoing strategy will be identified and transferred to BNC in their entirety, while being run down or exited.  

Derivative portfolios
A number of derivative portfolios in the Investment Bank reflect activity that is no longer attractive for the bank following changes in the regulatory environment and related market behaviour and pricing.  Such changes have happened over time but in the interests of simplicity, these portfolios have been defined to comprise positions entered into before the principal implementation of CRD IV. Accordingly, responsibility for those portfolios after that point has been transferred to BNC.  The results for those portfolios prior to that point will remain in the historical Investment Bank results.

Expense

Cost allocation  
The direct costs of Non-Core activity are reported within BNC. Where it has been necessary to make allocations of such costs between operating segments, this has been done with the objective of reporting costs in the same operating segment as the related income.  Indirect costs, such as those arising from infrastructure and distribution, have been allocated by reference to the same objective, using appropriate measures of activity such as trade volume and time spent.

Litigation and conduct  
Provisions and contingent liabilities relating to litigation and conduct matters are reported within BNC where they relate to Non-Core businesses.  Payment Protection Insurance and Interest Rate Hedging Products redress provisions have been reported as adjusting items and are not attributed to any operating segment.

Tax

Tax is recognised within the operating segment that has recognised the associated profit or loss.  Deferred tax balances have been allocated to the operating segment that originated the related temporary difference, tax loss or tax credit.

RWAs

RWAs have been allocated to operating segments directly where possible, otherwise using judgemental allocations. Where practicable and appropriate, these methodologies calculate RWAs for Core segments on a standalone basis (such that only the netting and diversification benefits attributable to that segment are incorporated), with the residual allocated to BNC. This would mean that the BNC RWAs are lower than they would be on a standalone basis.  



Overview of reporting changes
 
Head Office Allocations
 
The Group allocates elements of the Head Office performance to business segments, so that the aggregate of those businesses’ results is closely aligned to the Group’s results, including Group return on equity.
 
 
The underlying principle of materially allocating all of the Head Office income and costs to businesses is unchanged, although the basis of allocation has been updated as part of the restatement, in particular in relation to the following:
 
 
·  
In recognition of the local equity listing of the BAGL entity, the significant minority interest in the business and existing local Head Office functionality, Head Office allocations to Africa Banking have been restated to those that are deemed to be incrementally incurred as a consequence of Barclays operations in Africa. Investment Bank treasury operations have been resegmented to Head Office; and
 
 
·  
Residual Group treasury funding costs have been allocated from Head Office to other segments using appropriate methodologies to reflect business accountability.
 

Barclays Performance Highlights

Barclays Results
for the three months ended 
Adjusted 
  
Statutory
31.03.14 
  
31.03.14
  
Barclays Core
Barclays Non-Core
Barclays Group 
  
Barclays Group
  
£m
£m
£m 
  
£m
Total income net of insurance claims 
6,277 
373 
6,650  
  
6,769 
Credit impairment charges and other provisions  
(481)
(67)
(548) 
  
(548)
Net operating income  
5,796 
306 
6,102  
  
6,221 
Operating expenses (excluding costs to achieve Transform) 
(3,753)
(442)
(4,195) 
  
(4,195)
Costs to achieve Transform 
(216)
(24)
(240) 
  
(240)
Operating expenses 
(3,969)
(466)
(4,435) 
  
(4,435)
Other net income 
20 
6 
26  
  
26 
Profit/(loss) before tax  
1,847 
(154)
1,693  
  
1,812 
Attributable profit/(loss)1 
1,053 
(171)
882  
  
965 
  
    
  
    
Performance Measures 
    
  
    
Return on average tangible shareholders' equity2 
13.1%
(5.6%)
7.5% 
  
8.3%
Return on average shareholders' equity2 
10.6%
(4.2%)
6.4% 
  
7.1%
Cost: income ratio 
63%
125%
67% 
  
66%
Loan loss rate (bps) 
    
45  
  
45 
  
    
  
    
Basic earnings per share  
6.5p
(1.1p)
5.4p 
  
5.9p
Dividend per share  
    
  
  
1.0p
   
    
  
    
Balance Sheet and Leverage 
    
  
    
Net asset value per share3 
    
  
  
331p
Net tangible asset value per share3 
    
  
  
284p
Estimated PRA leverage exposure 
    
  
  
£1,326bn
  
    
  
    
Capital Management 
    
  
    
CRD IV fully loaded 
    
  
    
Common equity tier 1 ratio 
    
  
  
9.6%
Common equity tier 1 capital 
    
  
  
£41.4bn
Risk weighted assets  
£323bn
£106bn
  
  
£429bn
Estimated leverage ratio 
    
  
  
3.3%
Estimated PRA leverage ratio 
    
  
  
3.1%
  
    
  
    
Funding and Liquidity 
    
  
    
Group liquidity pool  
    
  
  
£134bn
Loan: deposit ratio  
    
  
  
101%
Estimated liquidity coverage ratio 
    
  
  
109%
  
    
  
    
Adjusted Profit Reconciliation 
    
  
    
Adjusted profit before tax 
    
  
  
1,693 
Own credit 
    
  
  
119 
Statutory profit before tax 
    
  
  
1,812 

1  
Attributable profit/(loss) comprises profit/(loss) after tax and non-controlling interests.
2  
Return on average equity and average tangible equity for Barclays Non-Core represents the dilution for the Group.
3  
Net asset value per share is calculated by dividing shareholders’ equity, excluding non-controlling and other equity interests, by the number of issued ordinary shares.  Net tangible asset value per share is calculated by dividing shareholders’ equity, excluding non-controlling and other equity interests, less goodwill and intangible assets, by the number of issued ordinary shares.

Barclays Performance Highlights
 
Barclays Results
for the twelve months ended 
Adjusted 
  
Statutory
31.12.13 
  
31.12.13

  
Barclays Core
Barclays Non-Core
Barclays Group 
  
Barclays Group
  
£m
£m
£m 
  
£m
Total income net of insurance claims 
25,862 
2,293 
28,155  
  
27,935 
Credit impairment charges and other provisions  
(2,171)
(900)
(3,071) 
  
(3,071)
Net operating income  
23,691 
1,393 
25,084  
  
24,864 
Operating expenses (excluding UK bank levy and costs to achieve Transform) 
(15,982)
(2,198)
(18,180) 
  
(20,259)
UK bank levy 
(395)
(109)
(504) 
  
(504)
Costs to achieve Transform 
(671)
(538)
(1,209) 
  
(1,209)
Operating expenses 
(17,048)
(2,845)
(19,893) 
  
(21,972)
Other net income/(expense) 
86 
(110)
(24) 
  
(24)
Profit/(loss) before tax  
6,729 
(1,562)
5,167  
  
2,868 
Attributable profit/(loss)1 
4,285 
(1,890)
2,395  
  
540 
  
    
  
    
Performance Measures 
    
  
    
Return on average tangible shareholders' equity2 
15.1%
(9.8%)
5.3% 
  
1.2%
Return on average shareholders' equity2 
11.9%
(7.4%)
4.5% 
  
1.0%
Cost: income ratio 
66%
124%
71% 
  
79%
Loan loss rate (bps) 
55 
107 
64  
  
64 
  
    
  
    
Basic earnings per share  
29.9p
(13.2p)
16.7p 
  
3.8p
Dividend per share  
    
  
  
6.5p
   
    
  
    
Balance Sheet and Leverage 
    
  
    
Net asset value per share3 
    
  
  
331p
Net tangible asset value per share3 
    
  
  
283p
Estimated PRA leverage exposure 
    
  
  
£1,365bn
  
    
  
    
Capital Management 
    
  
    
CRD IV fully loaded 
    
  
    
Common equity tier 1 ratio 
    
  
  
9.3%
Common equity tier 1 capital 
    
  
  
£40.4bn
Risk weighted assets  
£326bn
£110bn
  
  
£436bn
Estimated leverage ratio 
    
  
  
3.1%
Estimated PRA leverage ratio 
    
  
  
3.0%
  
    
  
    
Funding and Liquidity 
    
  
    
Group liquidity pool  
    
  
  
£127bn
Loan: deposit ratio  
    
  
  
101%
Estimated liquidity coverage ratio 
    
  
  
102%
Estimated net stable funding ratio 
    
  
  
110%
  
    
  
    
Adjusted Profit Reconciliation 
    
  
    
Adjusted profit before tax 
    
  
  
5,167 
Own credit 
    
  
  
(220)
Provision for PPI redress 
    
  
  
(1,350)
Provision for interest rate hedging products redress 
    
  
  
(650)
Goodwill impairment 
    
  
  
(79)
Statutory profit before tax 
    
  
  
2,868 

1  
Attributable profit/(loss) comprises profit/(loss) after tax and non-controlling interests.
2  
Return on average equity and average tangible equity for Barclays Non-Core represents the dilution for the Group.
3  
Net asset value per share is calculated by dividing shareholders’ equity, excluding non-controlling and other equity interests, by the number of issued ordinary shares.  Net tangible asset value per share is calculated by dividing shareholders’ equity, excluding non-controlling and other equity interests, less goodwill and intangible assets, by the number of issued ordinary shares.

Barclays Performance Highlights
 

Barclays Results
for the twelve months ended 
Adjusted 
  
Statutory
31.12.12
  
31.12.12

  
Barclays Core
Barclays Non-Core
Barclays Group
  
Barclays Group
  
£m
£m
£m
  
£m
Total income net of insurance claims 
26,154 
3,207 
29,361 
  
25,009 
Credit impairment charges and other provisions  
(2,378)
(962)
(3,340)
  
(3,340)
Net operating income  
23,776 
2,245 
26,021 
  
21,669 
Operating expenses (excluding UK bank levy) 
(16,209)
(2,008)
(18,217)
  
(20,667)
UK bank levy 
(263)
(82)
(345)
  
(345)
Operating expenses 
(16,472)
(2,090)
(18,562)
  
(21,012)
Other net income 
75 
65 
140 
  
140 
Profit before tax  
7,379 
220 
7,599 
  
797 
Attributable profit/(loss)1 
4,120 
515 
4,635 
  
(624)
  
          
Performance Measures 
          
Return on average tangible shareholders' equity2,3
12.4%
(1.8%)
10.6%
  
(1.4%)
Return on average shareholders' equity2,3
10.1%
(1.1%)
9.0%
  
(1.2%)
Cost: income ratio 
63%
65%
63%
  
84%
Loan loss rate (bps) 
63 
93 
70 
  
70 
  
          
Basic earnings per share  
31.6p
3.9p
35.5p
  
(4.8p)
Dividend per share  
        
6.5p
   
          
Balance Sheet
         
Net asset value per share4 
        
414p
Net tangible asset value per share4 
        
349p
  
          
Capital Management 
          
CRD IV fully loaded 
          
Risk weighted assets  
        
£468bn
  
          
Funding and Liquidity 
          
Group liquidity pool  
        
£150bn
Loan: deposit ratio  
        
110%
Estimated liquidity coverage ratio 
        
126%
Estimated net stable funding ratio 
        
112%
  
          
Adjusted Profit Reconciliation 
          
Adjusted profit before tax 
        
7,599 
Own credit 
        
(4,579)
Gain on disposal of BlackRock, Inc. investment 
        
227 
Provision for PPI redress 
        
(1,600)
Provision for interest rate hedging products redress 
        
(850)
Statutory profit before tax 
        
797 

1  
Attributable profit/(loss) comprises profit/(loss) after tax and non-controlling interests.
2  
2012 returns calculated using average allocated equity based on CRD III RWAs and capital deductions.
3  
Return on average equity and average tangible equity for Barclays Non-Core represents the dilution for the Group.
4  
Net asset value per share is calculated by dividing shareholders’ equity, excluding non-controlling and other equity interests, by the number of issued ordinary shares.  Net tangible asset value per share is calculated by dividing shareholders’ equity, excluding non-controlling and other equity interests, less goodwill and intangible assets, by the number of issued ordinary shares.


Barclays Performance Highlights
 
Restated Barclays Core Results by Quarter 
Q114
  
Q413
Q313
Q213
Q113
  
Q412
Q312
Q212
Q112
  
£m
  
£m
£m
£m
£m
  
£m
£m
£m
£m
Total income net of insurance claims  
6,277 
  
6,189 
6,076 
6,773 
6,824 
  
6,115 
6,278 
6,658 
7,103 
Credit impairment charges and other provisions  
(481)
  
(542)
(554)
(558)
(517)
  
(600)
(628)
(590)
(560)
Net operating income  
5,796 
  
5,647 
5,522 
6,215 
6,307 
  
5,515 
5,650 
6,068 
6,543 
Operating expenses (excluding UK bank levy and costs to achieve Transform)  
(3,753)
  
(4,114)
(3,776)
(3,853)
(4,239)
  
(3,844)
(3,906)
(4,023)
(4,436)
UK bank levy  
- 
  
(395)
- 
- 
- 
  
(263)
- 
- 
- 
Costs to achieve Transform 
(216)
  
(365)
(84)
(64)
(158)
  
- 
- 
- 
- 
Operating expenses 
(3,969)
  
(4,874)
(3,860)
(3,917)
(4,397)
  
(4,107)
(3,906)
(4,023)
(4,436)
Other net income 
20 
  
15 
15 
13 
43 
  
21 
12 
31 
11 
Profit before tax  
1,847 
  
788 
1,677 
2,311 
1,953 
  
1,429 
1,756 
2,076 
2,118 
Attributable profit 
1,053 
  
601 
1,009 
1,360 
1,315 
  
687 
895 
1,157 
1,381 
  
                      

Restated Barclays Non-Core Results by Quarter 
Q114
  
Q413
Q313
Q213
Q113
  
Q412
Q312
Q212
Q112
  
£m
  
£m
£m
£m
£m
  
£m
£m
£m
£m
Total income net of insurance claims  
373 
  
450 
368 
564 
911 
  
752 
724 
726 
1,005 
Credit impairment charges and other provisions  
(67)
  
(176)
(168)
(367)
(189)
  
(226)
(177)
(335)
(224)
Net operating income  
306 
  
274 
200 
197 
722 
  
526 
547 
391 
781 
Operating expenses (excluding UK bank levy and costs to achieve Transform)  
(442)
  
(664)
(485)
(507)
(542)
  
(500)
(447)
(532)
(529)
UK bank levy  
- 
  
(109)
- 
- 
- 
  
(82)
- 
- 
- 
Costs to achieve Transform 
(24)
  
(103)
(17)
(62)
(356)
  
- 
- 
- 
- 
Operating expenses 
(466)
  
(876)
(502)
(569)
(898)
  
(582)
(447)
(532)
(529)
Other net income/(expense) 
6 
  
4 
10 
(135)
11 
  
21 
9 
10 
25 
(Loss)/profit before tax  
(154)
  
(598)
(292)
(507)
(165)
  
(35)
109 
(131)
277 
Attributable (loss)/profit 
(171)
  
(997)
(274)
(314)
(305)
  
53 
179 
(83)
366 
  
                      


Results by Business
 
2013 Personal and Corporate Banking
    
Restatement Adjustments
  
Income Statement Information 
UK RBB (Published)
Corporate Banking (Published)
Wealth & Investment M'gment (Published)
Group Structure
Head Office Allocation
2013 as
Restated 
  
£m
£m
£m
£m
£m
£m 
Net interest income 
3,395 
1,987 
859 
(270)
(78)
5,893  
Net fee and commission income 
1,098 
992 
968 
(335)
- 
2,723  
Net trading income 
- 
97 
17 
(60)
- 
54  
Net investment income 
- 
12 
1 
-
- 
13  
Net premiums from insurance contracts 
46 
- 
- 
(29)
- 
17  
Other income/(expense) 
1 
27 
(6)
1 
-
23  
Total income 
4,540 
3,115 
1,839 
(693)
(78)
8,723  
Net claims and benefits incurred under insurance contracts 
(17)
- 
- 
17 
- 
-  
Total income net of insurance claims 
4,523 
3,115 
1,839 
(676)
(78)
8,723  
Credit impairment charges and other provisions 
(347)
(510)
(121)
357 
- 
(621) 
Net operating income 
4,176 
2,605 
1,718 
(319)
(78)
8,102  
  
          
  
Operating expenses (excluding UK bank levy and costs to achieve Transform) 
(2,812)
(1,641)
(1,586)
593 
(14)
(5,460) 
UK bank levy 
(21)
(51)
(6)
- 
12 
(66) 
Costs to achieve Transform 
(175)
(114)
(158)
63 
- 
(384) 
Operating expenses 
(3,008)
(1,806)
(1,750)
656 
(2)
(5,910) 
  
          
  
Other net income 
27 
2 
13 
(1)
- 
41  
Profit/(loss) before tax 
1,195 
801 
(19)
336 
(80)
2,233  
Attributable profit/(loss)1 
917 
247 
(24)
606 
(65)
1,681  
  
          
  
Balance Sheet Information 
          
  
Loans and advances to customers at amortised cost 
£136.5bn
£61.1bn
£23.1bn
£(8.5bn)
  
£212.2bn 
Loans and advances to customers at fair value 
-
£15.7bn
- 
£(15.4bn)
  
£0.3bn 
Customer deposits 
£135.5bn
£108.7bn
£63.4bn
£(11.7bn)
  
£295.9bn 
Total assets2 
£152.9bn
£113.9bn
£37.6bn
£(25.9bn)
  
£278.5bn 
Risk weighted assets - fully loaded CRD IV2 
£44.1bn
£70.5bn
£17.3bn
£(13.6bn)
  
£118.3bn 
  
          
  
Performance Measures 
          
  
Return on average tangible equity3 
20.0%
3.3%
(1.4%)
    
12.7% 
Return on average equity3 
11.5%
3.1%
(1.0%)
    
9.7% 
Cost: income ratio 
67%
58%
95%
    
68% 
Loan loss rate (bps) 
25 
77 
51 
    
28  


1  
Attributable profit comprises profit after tax and non-controlling interests.
2  
2013 total assets and risk weighted assets include an allocation of liquidity pool assets previously held centrally.
3  
As part of the restatement, 2013 returns have been revised for the impact of calculating average allocated equity based on estimated fully loaded CRD IV RWAs and capital deductions (previously based on CRD III).



Results by Business
 
2012 Personal and Corporate Banking
    
Restatement Adjustments
  
Income Statement Information 
UK RBB (Published)
Corporate Banking (Published)
Wealth and Investment M'gment (Published)
Group Structure
Head Office Allocation
2012 as
Restated 
  
£m
£m
£m
£m
£m
£m 
Net interest income 
3,190 
1,911 
856 
(235)
8 
5,730  
Net fee and commission income 
1,154 
998 
948 
(323)
- 
2,777  
Net trading income 
- 
87 
16 
(86)
- 
17  
Net investment income 
- 
23 
- 
(2)
- 
21  
Net premiums from insurance contracts 
74 
- 
- 
(49)
- 
25  
Other (expense)/income 
(1)
27 
- 
(17)
- 
9  
Total income 
4,417 
3,046 
1,820 
(712)
8 
8,579  
Net claims and benefits incurred under insurance contracts 
(33)
- 
- 
33 
- 
-  
Total income net of insurance claims 
4,384 
3,046 
1,820 
(679)
8 
8,579  
Credit impairment charges and other provisions 
(269)
(885)
(38)
566 
- 
(626) 
Net operating income 
4,115 
2,161 
1,782 
(113)
8 
7,953  
  
          
  
Operating expenses (excluding UK bank levy) 
(2,877)
(1,672)
(1,505)
621 
(23)
(5,456) 
UK bank levy 
(17)
(39)
(4)
- 
11 
(49) 
Operating expenses 
(2,894)
(1,711)
(1,509)
621 
(12)
(5,505) 
  
          
  
Other net income 
4 
10 
1 
(8)
- 
7  
Profit before tax 
1,225 
460 
274 
500 
(4)
2,455  
Attributable profit1 
875 
228 
222 
394 
(16)
1,703  
  
          
  
Balance Sheet Information 
          
  
Loans and advances to customers at amortised cost 
£128.1bn
£64.3bn
£21.3bn
£(9.9bn)
  
£203.8bn 
Loans and advances to customers at fair value 
- 
£17.6bn
- 
£(17.2bn)
  
£0.4bn 
Customer deposits 
£116.0bn
£99.6bn
£53.8bn
£(13.0bn)
  
£256.4bn 
Total assets 
£134.6bn
£87.8bn
£24.5bn
£(31.2bn)
  
£215.7bn 
  
          
  
Performance Measures 
          
  
Return on average tangible equity2 
22.9%
3.1%
15.5%
    
15.0% 
Return on average equity2 
12.3%
2.9%
11.2%
    
11.1% 
Cost: income ratio 
66%
56%
83%
    
64% 
Loan loss rate (bps) 
21 
127 
17 
    
30  

1  
Attributable profit comprises profit after tax and non-controlling interests.
2  
2012 returns calculated using average allocated equity based on CRD III RWAs and capital deductions.



Results by Business
 
Personal and Corporate Banking 
                    
  
  
                    
  
Income Statement Information 
Q114
  
Q413
Q313
Q213
Q113
  
Q412
Q312
Q212
Q112 
  
£m
  
£m
£m
£m
£m
  
£m
£m
£m
£m 
Total income net of insurance claims 
2,173 
  
2,166 
2,252 
2,192 
2,113 
  
2,153 
2,151 
2,146 
2,129  
Credit impairment charges and other provisions 
(135)
  
(169)
(153)
(165)
(134)
  
(191)
(152)
(118)
(165) 
Net operating income 
2,038 
  
1,997 
2,099 
2,027 
1,979 
  
1,962 
1,999 
2,028 
1,964  
Operating expenses (excluding UK bank levy and Costs to achieve Transform) 
(1,298)
  
(1,388)
(1,318)
(1,378)
(1,376)
  
(1,337)
(1,356)
(1,329)
(1,434) 
UK bank levy 
- 
  
(66)
- 
- 
- 
  
(49)
- 
- 
-  
Costs to achieve Transform 
(57)
  
(219)
(73)
(55)
(37)
  
- 
- 
- 
-  
Operating expenses 
(1,355)
  
(1,673)
(1,391)
(1,433)
(1,413)
  
(1,386)
(1,356)
(1,329)
(1,434) 
Other net income/(expense) 
5 
  
3 
1 
7 
30 
  
3 
7 
(1)
(2) 
Profit before tax 
688 
  
327 
709 
601 
596 
  
579 
650 
698 
528  
  
                    
  


 
Results by Business
 
Barclaycard 
  
Restatement Adjustments
      
Restatement Adjustments
  
Income Statement Information 
2013 (Published)
Group Structure
Head Office Allocation
2013 as
Restated
  
2012 (Published)
Group Structure
Head Office Allocation
2012 as
Restated 
  
£m
£m
£m
£m
  
£m
£m
£m
£m 
Net interest income 
3,318 
(434)
(55)
2,829 
  
3,009 
(347)
(30)
2,632  
Net fee and commission income 
1,435 
(179)
- 
1,256 
  
1,292 
(126)
- 
1,166  
Net premiums from insurance contracts 
26 
(16)
- 
10 
  
36 
(21)
- 
15  
Other income 
7 
1 
- 
8 
  
7 
(4)
-
3  
Total income net of insurance claims 
4,786 
(628)
(55)
4,103 
  
4,344 
(498)
(30)
3,816  
Credit impairment charges and other provisions 
(1,264)
168 
- 
(1,096)
  
(1,049)
49 
- 
(1,000) 
Net operating income 
3,522 
(460)
(55)
3,007 
  
3,295 
(449)
(30)
2,816  
  
                
  
Operating expenses (excluding UK bank levy and costs to achieve Transform) 
(1,975)
200 
(11)
(1,786)
  
(1,826)
164 
(7)
(1,669) 
UK bank levy 
(24)
- 
2 
(22)
  
(16)
- 
1 
(15) 
Costs to achieve Transform 
(49)
- 
-
(49)
  
- 
- 
- 
-  
Operating expenses 
(2,048)
200 
(9)
(1,857)
  
(1,842)
164 
(6)
(1,684) 
  
                
  
Other net income 
33 
- 
-
33 
  
29 
- 
- 
29  
Profit before tax 
1,507 
(260)
(64)
1,183 
  
1,482 
(285)
(36)
1,161  
Attributable profit1 
1,006 
(132)
(52)
822 
  
975 
(125)
(38)
812  
  
                
  
Balance Sheet Information 
                
  
Loans and advances to customers at amortised cost 
£35.6bn
£(4.1bn)
  
£31.5bn
  
£33.8bn
£(5.0bn)
  
£28.8bn 
Customer deposits 
£5.2bn
£(0.1bn)
  
£5.1bn
  
£2.8bn
£(0.1bn)
  
£2.7bn 
Total assets2 
£38.9bn
£(4.5bn)
  
£34.4bn
  
£38.2bn
£(5.3bn)
  
£32.9bn 
Risk weighted assets - fully loaded
CRD IV2 
£40.5bn
£(4.8bn)
  
£35.7bn
        
  
  
                
  
Performance Measures 
                
  
Return on average tangible equity3 
24.5%
    
19.9%
  
26.9%
    
23.7% 
Return on average equity3 
18.4%
    
15.5%
  
19.8%
    
18.0% 
Cost: income ratio 
43%
    
45%
  
42%
    
44% 
Loan loss rate (bps) 
337 
    
332 
  
294 
    
328  


1  
Attributable profit comprises profit after tax and non-controlling interests.
2  
2013 total assets and risk weighted assets include an allocation of liquidity pool assets previously held centrally.
3  
As part of the restatement, 2013 returns have been revised for the impact of calculating average allocated equity based on estimated fully loaded CRD IV RWAs and capital deductions (previously based on CRD III). 2012 returns remain based on CRD III.



Results by Business
 
Barclaycard 
                    
  
  
                    
  
Income Statement Information 
Q114
  
Q413
Q313
Q213
Q113
  
Q412
Q312
Q212
Q112 
  
£m
  
£m
£m
£m
£m
  
£m
£m
£m
£m 
Total income net of insurance claims 
1,042 
  
1,034 
1,050 
1,030 
989 
  
987 
956 
962 
911  
Credit impairment charges and other provisions 
(269)
  
(266)
(290)
(272)
(268)
  
(265)
(259)
(242)
(234) 
Net operating income 
773 
  
768 
760 
758 
721 
  
722 
697 
720 
677  
Operating expenses (excluding UK bank levy and costs to achieve Transform) 
(402)
  
(457)
(455)
(424)
(450)
  
(472)
(401)
(402)
(394) 
UK bank levy 
- 
  
(22)
- 
- 
- 
  
(15)
- 
- 
-  
Costs to achieve Transform 
(13)
  
(38)
(6)
(5)
- 
  
- 
- 
- 
-  
Operating expenses 
(415)
  
(517)
(461)
(429)
(450)
  
(487)
(401)
(402)
(394) 
Other net income 
10 
  
5 
12 
7 
9 
  
5 
7 
8 
9  
Profit before tax 
368 
  
256 
311 
336 
280 
  
240 
303 
326 
292  
  
                    
  


Results by Business
 
Africa Banking 
                
  
  
  
Restatement Adjustments
      
Restatement Adjustments
  
Income Statement Information 
Africa RBB
2013 (Published)
Group Structure
Head Office Allocation
2013 as
Restated
  
Africa RBB
2012 (Published)
Group Structure
Head Office Allocation
2012 as
Restated 
  
£m
£m
£m
£m
  
£m
£m
£m
£m 
Net interest income 
1,437 
662 
146 
2,245 
  
1,654 
531 
128 
2,313  
Net fee and commission income 
924 
330 
- 
1,254 
  
1,065 
319 
- 
1,384  
Net premiums from insurance contracts 
359 
15 
- 
374 
  
417 
15 
- 
432  
Other income/(expense) 
81 
270 
-
351 
  
(1)
394 
- 
393  
Total income 
2,801 
1,277 
146 
4,224 
  
3,135 
1,259 
128 
4,522  
Net claims and benefits incurred under insurance contracts 
(184)
(1)
- 
(185)
  
(207)
(1)
- 
(208) 
Total income net of insurance claims 
2,617 
1,276 
146 
4,039 
  
2,928 
1,258 
128 
4,314  
Credit impairment charges and other provisions 
(324)
(155)
- 
(479)
  
(632)
(63)
- 
(695) 
Net operating income 
2,293 
1,121 
146 
3,560 
  
2,296 
1,195 
128 
3,619  
  
                
  
Operating expenses (excluding UK bank levy and costs to achieve Transform) 
(1,842)
(665)
56 
(2,451)
  
(1,960)
(673)
49 
(2,584) 
UK bank levy 
(28)
- 
(14)
(42)
  
(24)
- 
(10)
(34) 
Costs to achieve Transform 
(26)
- 
- 
(26)
  
- 
- 
- 
-  
Operating expenses 
(1,896)
(665)
42 
(2,519)
  
(1,984)
(673)
39 
(2,618) 
  
                
  
Other net income 
7 
1 
- 
8 
  
10 
8 
- 
18  
Profit before tax 
404 
457 
188 
1,049 
  
322 
530 
167 
1,019  
Attributable profit/(loss)1 
9 
189 
158 
356 
  
(4)
224 
127 
347  
  
                
  
Balance Sheet Information 
                
  
Loans and advances to customers at amortised cost 
£24.2bn
£10.7bn
  
£34.9bn
  
£29.9bn
£11.3bn
  
£41.2bn 
Customer deposits 
£16.9bn
£17.7bn
  
£34.6bn
  
£19.5bn
£20.2bn
  
£39.7bn 
Total assets
£33.5bn
£21.4bn
  
£54.9bn
  
£42.2bn
£22.7bn
  
£64.9bn 
Risk weighted assets - fully loaded
CRD IV
£22.8bn
£15.2bn
  
£38.0bn
        
  
  
                
  
Performance Measures 
                
  
Return on average tangible equity2 
0.8%
    
11.3%
  
(0.2%)
    
10.0% 
Return on average equity2 
0.4%
    
8.1%
  
(0.1%)
    
7.2% 
Cost: income ratio 
72%
    
62%
  
68%
    
61% 
Loan loss rate (bps) 
128 
    
128 
  
202 
    
158  


1  
Attributable profit comprises profit after tax and non-controlling interests.
2  
The equity used for return on equity has been restated to reflect Barclays’ share of the statutory equity of the BAGL entity (together with that of the Barclays Egypt and Zimbabwe businesses which remain outside the BAGL corporate entity), as well as Barclays’ goodwill on acquisition of these businesses. The tangible equity for return on tangible equity uses the same basis but excludes both Barclays’ goodwill on acquisition and the goodwill and intangibles held within the statutory equity.



Results by Business
 
Africa Banking 
                    
  
  
                    
  
Income Statement Information 
Q114
  
Q413
Q313
Q213
Q113
  
Q412
Q312
Q212
Q112 
  
£m
  
£m
£m
£m
£m
  
£m
£m
£m
£m 
Total income net of insurance claims 
878 
  
980 
1,004 
1,016 
1,039 
  
1,064 
1,043 
1,090 
1,117  
Credit impairment charges and other provisions 
(96)
  
(104)
(101)
(131)
(143)
  
(164)
(192)
(222)
(117) 
Net operating income 
782 
  
876 
903 
885 
896 
  
900 
851 
868 
1,000  
Operating expenses (excluding UK bank levy and costs to achieve Transform) 
(537)
  
(616)
(605)
(597)
(633)
  
(605)
(660)
(624)
(695) 
UK bank levy 
- 
  
(42)
- 
- 
- 
  
(34)
- 
- 
-  
Costs to achieve Transform 
(9)
  
(15)
(2)
(9)
- 
  
- 
- 
- 
-  
Operating expenses 
(546)
  
(673)
(607)
(606)
(633)
  
(639)
(660)
(624)
(695) 
Other net income 
4 
  
- 
3 
4 
1 
  
12 
3 
1 
2  
Profit before tax 
240 
  
203 
299 
283 
264 
  
273 
194 
245 
307  
  
                    
  


Results by Business
 
Investment Bank 
                
  
  
  
Restatement Adjustments
      
Restatement Adjustments
  
Income Statement Information 
2013 (Published)
Group Structure
Head Office Allocation
2013 as
Restated
  
2012 (Published)
Group Structure
Head Office Allocation
2012 as
Restated 
  
£m
£m
£m
£m
  
£m
£m
£m
£m 
Net interest income 
349 
144
(100)
393
  
530 
(292)
(29)
209  
Net fee and commission income 
3,236 
(4)
- 
3,232
  
3,029 
(5)
- 
3,024  
Net trading income 
6,610 
(1,641)
- 
4,969
  
7,688 
(1,785)
- 
5,903  
Net investment income 
530 
(269)
- 
261
  
521 
(558)
- 
(37) 
Other income 
8 
(8)
-
-
  
7 
(2)
-
5 
Total income 
10,733 
(1,778)
(100)
8,855 
  
11,775 
(2,642)
(29)
9,104  
Credit impairment (charges)/releases and other provisions 
(220)
242 
- 
22 
  
(204)
154 
- 
(50) 
Net operating income 
10,513 
(1,536)
(100)
8,877 
  
11,571 
(2,488)
(29)
9,054  
  
                
  
Operating expenses (excluding UK bank levy and costs to achieve Transform) 
(7,417)
1,259 
(14)
(6,172)
  
(7,425)
1,074 
(10)
(6,361) 
UK bank levy 
(333)
- 
97 
(236)
  
(206)
- 
67 
(139) 
Costs to achieve Transform 
(262)
72 
-
(190)
  
- 
- 
- 
-  
Operating expenses 
(8,012)
1,331 
83 
(6,598)
  
(7,631)
1,074 
57 
(6,500) 
  
                
  
Other net income 
22 
(22)
- 
- 
  
50 
(50)
- 
-  
Profit before tax 
2,523 
(227)
(17)
2,279 
  
3,990 
(1,464)
28 
2,554  
Attributable profit1 
1,548 
(53)
20 
1,515 
  
2,680 
(1,544)
99 
1,235  
  
                
  
Balance Sheet Information 
                
  
Loans and advances to banks and customers at amortised cost 
£149.3bn
£(44.8bn)
  
£104.5bn
  
£151.5bn
£(58.3bn)
  
£93.2bn 
Customer deposits 
£86.0bn
£(25.5bn)
  
£60.5bn
  
£81.3bn
£(29.7bn)
  
£51.6bn 
Total assets2 
£895.2bn
£(455.6bn)
  
£439.6bn
  
£1,097.7bn
£(697.4bn)
  
£400.3bn 
Risk weighted assets - fully loaded CRD IV2 
£221.6bn
£(95.6bn)
  
£126.0bn
        
  
  
                
  
Performance Measures 
                
  
Return on average tangible equity3 
8.5%
    
9.8%
  
13.1%
    
10.1% 
Return on average equity3 
8.2%
    
9.4%
  
12.7%
    
9.6% 
Cost: income ratio 
75%
    
75%
  
65%
    
71% 
Compensation: income ratio 
43.2%
    
44.8%
  
39.6%
    
45.7% 
Loan loss rate (bps) 
14 
    
(2)
  
13 
    
6  
  
                
  
Analysis of Total Income 
                
  
   Investment Banking  
      
2,160
       
2,042  
   Lending4
     
325
       
109  
Banking 
      
2,485
       
2,151  
   Macro5 
      
2,580
       
3,559  
   Credit5 
      
1,257
       
1,402  
   Equities 
      
2,297
       
2.025  
Markets 
      
6,134
       
6,986  
Other6
     
236
       
(33)  
Total income 
      
8,855 
        
9,104  

1  
Attributable profit comprises profit after tax and non-controlling interests.
2  
2013 total assets and risk weighted assets reflect a reallocation of liquidity pool assets to other businesses.
3  
As part of the restatement, 2013 returns have been revised for the impact of calculating average allocated equity based on estimated fully loaded CRD IV RWAs and capital deductions (previously based on CRD III). 2012 returns remain based on CRD III.
4  
Lending income includes net interest income, fee income and risk management income or losses relating to the core loan portfolio. While net interest and fee income tends to be broadly stable over time, there is volatility in risk management income or losses.
5  
Macro represent Rates, Currencies and Commodities income.  Credit represent Credit and Securitised Products income.  
6  
Other income includes the £259m gain recognised in Q2 2013 in respect of assets not yet received from the 2008 US Lehman acquisition.

Results by Business
Investment Bank 
                    
  
  
                    
  
Income Statement Information 
Q114
  
Q413
Q313
Q213
Q113
  
Q412
Q312
Q212
Q112 
  
£m
  
£m
£m
£m
£m
  
£m
£m
£m
£m 
   Investment Banking 
513
 
571
526
488
575
 
621
461
487
473  
   Lending 
103
 
68
42
141
74
 
42
(38)
121
(16)  
Banking 
616
 
639
568
629
649
 
663
423
608
457  
   Macro 
552
 
494
457
689
940
 
609
841
850
1,259  
   Credit    
346
 
231
308
239
479
 
248
356
330
468  
   Equities 
591
 
421
524
750
602
  
419
490
603
513  
Markets 
1,489
 
1,146
1,289
1,678
2,021
 
1,276
1,687
1,783
2,240  
Other1    
(2)
 
(3)
(6)
252
(7)
 
(8)
(8)
(7)
(10)  
Total income 
2,103 
  
1,782 
1,851 
2,559 
2,663 
  
1,931 
2,102 
2,384 
2,687  
Credit impairment releases/(charges) and other provisions 
19 
  
(6)
(10)
10 
28 
  
21 
(24)
(5)
(42) 
Net operating income 
2,122 
  
1,776 
1,841 
2,569 
2,691 
  
1,952 
2,078 
2,379 
2,645  
Operating expenses (excluding UK bank levy and costs to achieve Transform) 
(1,501)
  
(1,606)
(1,373)
(1,429)
(1,764)
  
(1,360)
(1,489)
(1,583)
(1,929) 
UK bank levy 
- 
  
(236)
- 
- 
- 
  
(139)
- 
- 
-  
Costs to achieve Transform 
(130)
  
(71)
(3)
- 
(116)
  
- 
- 
- 
-  
Operating expenses 
(1,631)
  
(1,913)
(1,376)
(1,429)
(1,880)
  
(1,499)
(1,489)
(1,583)
(1,929) 
Profit/(loss) before tax 
491 
  
(137)
465 
1,140 
811 
  
453 
589 
796 
716  

1  
Other income includes the £259m gain recognised in Q2 2013 in respect of assets not yet received from the 2008 US Lehman acquisition.


Results by Business
 
Head Office and Other Operations
            
  
  
  
Restatement Adjustments
      
Restatement Adjustments
  
Income Statement Information 
2013 (Published)
Group Structure
Head Office Allocation Revisions
2013 as
Restated
  
2012 (Published)
Group Structure
Head Office Allocation Revisions
2012 as
Restated 
  
£m
£m
£m
£m
  
£m
£m
£m
£m 
Net interest (expense)/income 
(165)
34 
63 
(68)
  
76 
175 
(161)
90  
Net fee and commission expense 
(109)
(8)
- 
(117)
  
(198)
15 
- 
(183) 
Net trading income 
35 
136 
-  
171 
  
117 
-
- 
117  
Net investment income 
57 
11 
- 
68 
  
267 
(43)
- 
224  
Net premiums from insurance contracts 
25 
- 
- 
25 
  
38 
- 
- 
38  
Other income 
33 
30 
- 
63 
  
56 
(1)
- 
55  
Total (expense)/income 
(124)
203 
63 
142 
  
356 
146 
(161)
341  
Credit impairment releases/(charges) and other provisions 
2 
1
- 
3 
  
(6)
(1)
-
(7) 
Net operating (expense)/income 
(122)
204 
63 
145 
  
350 
145 
(161)
334  
  
                
  
Operating expenses (excluding UK bank levy and costs to achieve Transform) 
(94)
(64)
45 
(113)
  
(165)
(17)
43 
(139) 
UK bank levy 
(15)
- 
(14)
(29)
  
(19)
1 
(8)
(26) 
Costs to achieve Transform 
(22)
- 
- 
(22)
  
- 
- 
- 
-  
Operating expenses 
(131)
(64)
31 
(164)
  
(184)
(16)
35 
(165) 
  
                
  
Other net income 
5 
(1)
-
4 
  
23 
(2)
- 
21  
(Loss)/profit before tax 
(248)
139 
94 
(15)
  
189 
127 
(126)
190  
Attributable (loss)/profit1 
(344)
102 
153 
(89)
  
(64)
104 
(17)
23  
  
                
  
Balance Sheet Information 
                
  
Total assets2 
£26.7bn
£(1.7bn)
  
£25.0bn
  
£41.3bn
£105.2bn
  
£146.5bn 
Risk weighted assets - fully loaded
CRD IV2 
£2.5bn
£5.2bn
  
£7.7bn
        
  


 
1  
Attributable loss/(profit) comprises (loss)/profit after tax and non-controlling interests.
2  
2013 total assets and risk weighted assets reflect a reduction in the liquidity pool and a reallocation to businesses of liquidity pool assets previously held centrally.



Results by Business
 
Head Office and Other Operations 
 
                  
  
  
                    
  
Income Statement Information 
Q114
  
Q413
Q313
Q213
Q113
  
Q412
Q312
Q212
Q112 
  
£m
  
£m
£m
£m
£m
  
£m
£m
£m
£m 
Total income/(expense) net of insurance claims 
81 
  
227 
(81)
(24)
20 
  
(20)
26 
76 
259  
Credit impairment releases/(charges) and other provisions 
- 
  
3 
-
-
- 
  
(1)
(1)
(3)
(2) 
Net operating income/(expense) 
81 
  
230 
(81)
(24)
20 
  
(21)
25 
73 
257  
Operating expenses (excluding UK bank levy and costs to achieve Transform) 
(15)
  
(47)
(25)
(25)
(16)
  
(70)
-
(85)
16  
UK bank levy 
- 
  
(29)
- 
- 
- 
  
(26)
- 
- 
-  
Costs to achieve Transform 
(7)
  
(22)
- 
5 
(5)
  
- 
- 
- 
-  
Operating expenses 
(22)
  
(98)
(25)
(20)
(21)
  
(96)
-
(85)
16  
Other net income/(expense) 
1 
  
7 
(1)
(5)
3 
  
1 
(5)
23 
2  
Profit/(loss) before tax 
60 
  
139 
(107)
(49)
2 
  
(116)
20 
11 
275  
  
                    
  


Results by Business
 
Barclays Non-Core 
  
Restatement Adjustments
      
Restatement Adjustments
  
Income Statement Information 
Europe RBB 2013 (Published)
Group Structure
Head Office Allocation
2013 as restated
  
Europe RBB 2012 (Published)
Group Structure
Head Office Allocation
2012 as restated 
  
£m
£m
£m
£m
  
£m
£m
£m
£m 
Net interest income 
420 
(138) 
25 
307 
  
428 
167
85 
680  
Net fee and commission income 
187 
196 
- 
383 
  
248 
120 
- 
368  
Net trading income 
17 
1,310 
- 
1,327 
  
7 
1,539 
-
1,546  
Net investment income 
78 
224 
- 
302 
  
52 
568 
- 
620  
Net premiums from insurance contracts 
276 
30 
- 
306 
  
331 
55 
- 
386  
Other (expense)/income 
(4)
(4)
- 
(8)
  
1 
(2) 
-
(1)  
Total income 
974 
1,618 
25 
2,617 
  
1,067 
2,447 
85 
3,599  
Net claims and benefits incurred under insurance contracts 
(308)
(16)
- 
(324)
  
(359)
(33)
- 
(392) 
Total income net of insurance claims 
666 
1,602 
25 
2,293 
  
708 
2,414 
85 
3,207  
Credit impairment charges and other provisions 
(287)
(613)
- 
(900)
  
(257)
(705)
- 
(962) 
Net operating income 
379 
989 
25 
1,393 
  
451 
1,709 
85 
2,245  
  
                
  
Operating expenses (excluding UK bank levy and costs to achieve Transform) 
(813)
(1,323)
(62)
(2,198)
  
(787)
(1,170)
(51)
(2,008) 
UK bank levy 
(26)
- 
(83)
(109)
  
(20)
- 
(62)
(82) 
Costs to achieve Transform 
(403)
(135)
- 
(538)
  
- 
- 
- 
-  
Operating expenses 
(1,242)
(1,458)
(145)
(2,845)
  
(807)
(1,170)
(113)
(2,090) 
  
                
  
Other net (expense)/income 
(133)
23 
- 
(110)
  
13 
52 
- 
65  
(Loss)/profit before tax 
(996)
(446)
(120)
(1,562)
  
(343)
591 
(28)
220  
Attributable (loss)1 
(964)
(713)
(213)
(1,890)
  
(277)
947 
(155)
515  
  
                
  
Balance Sheet Information  
                
  
Loans and advances to banks and customers at amortised cost 
£37.4bn
£44.5bn
  
£81.9bn
  
£39.5bn
£59.6bn
  
£99.1bn 
Loans and advances to customers at fair value 
- 
£17.6bn
  
£17.6bn
  
- 
£20.2bn
  
£20.2bn 
Customer deposits 
£16.3bn
£13.0bn
  
£29.3bn
  
£17.6bn
£14.3bn
  
£31.9bn 
Total assets2 
£45.0bn
£466.2bn
  
£511.2bn
  
£46.1bn
£605.7bn
  
£651.8bn 
Risk weighted assets - fully loaded
CRD IV2 
£16.2bn
£93.7bn
  
£109.9bn
        
  
  
                
  
Performance Measures 
                
  
Return on average tangible equity3 
      
(9.8%)
        
(1.8%) 
Return on average equity3 
      
(7.4%)
        
(1.1%) 
Cost: income ratio 
      
124%
        
65% 
Loan loss rate (bps) 
75 
    
107 
  
64 
    
93  

1  
Attributable loss comprises loss after tax and non-controlling interests.
2  
As part of the restatement, 2013 total assets and risk weighted assets include an allocation of liquidity pool assets previously held centrally.
3  
Return on average equity and average tangible equity represents the dilution for the Group. 2012 returns based on CRD III.



Results by Business
 
Barclays Non-Core 
                    
  
  
                    
  
Income Statement Information 
Q114
  
Q413
Q313
Q213
Q113
  
Q412
Q312
Q212
Q112 
  
£m
  
£m
£m
£m
£m
  
£m
£m
£m
£m 
Total income net of insurance claims 
373 
  
450 
368 
564 
911 
  
752 
724 
726 
1,005  
Credit impairment charges and other provisions 
(67)
  
(176)
(168)
(367)
(189)
  
(226)
(177)
(335)
(224) 
Net operating income 
306 
  
274 
200 
197 
722 
  
526 
547 
391 
781  
  
                    
  
Operating expenses (excluding UK bank levy and costs to achieve Transform) 
(442)
  
(664)
(485)
(507)
(542)
  
(500)
(447)
(532)
(529) 
UK bank levy 
- 
  
(109)
- 
- 
- 
  
(82)
- 
- 
-  
Costs to achieve Transform 
(24)
  
(103)
(17)
(62)
(356)
  
- 
- 
- 
-  
Operating expenses 
(466)
  
(876)
(502)
(569)
(898)
  
(582)
(447)
(532)
(529) 
Other net income/(expense) 
6 
  
4 
10 
(135)
11 
  
21 
9 
10 
25  
(Loss)/profit before tax 
(154)
  
(598)
(292)
(507)
(165)
  
(35)
109 
(131)
277  
  
                    
  


Appendix I – Performance Management
 
Restated Returns and Equity by Business 
  
Adjusted 

  
Three Months Ended
Three Months Ended 
  
Year Ended
Year Ended 
  
31.03.14
31.03.131 
  
31.12.13
31.12.121 
Return on Average Equity 
%
% 
  
%
% 
Personal and Corporate Banking 
11.1 
10.0  
  
9.7 
11.1  
Barclaycard 
18.1 
15.0  
  
15.5 
18.0  
Africa Banking2 
11.1 
9.5  
  
8.1 
7.2  
Investment Bank 
6.0 
14.3  
  
9.4 
9.6  
Barclays Core excluding Head Office 
10.1 
12.2  
  
10.1 
10.9  
Head Office impact3 
0.5 
2.7  
  
1.8 
(0.8) 
Barclays Core 
10.6 
14.9  
  
11.9 
10.1  
Barclays Non-Core impact3 
(4.2)
(7.3) 
  
(7.4)
(1.1) 
Barclays Group 
6.4 
7.6  
  
4.5 
9.0  
  
  
  
    
  
Return on Average Tangible Equity 
  
  
    
  
Personal and Corporate Banking 
14.6 
13.1  
  
12.7 
15.0  
Barclaycard 
22.5 
19.4  
  
19.9 
23.7  
Africa Banking2 
15.5 
13.2  
  
11.3 
10.0  
Investment Bank 
6.2 
14.8  
  
9.8 
10.1  
Barclays Core excluding Head Office 
12.2 
14.6  
  
12.2 
13.4  
Head Office impact3 
0.9 
4.4  
  
2.9 
(1.0) 
Barclays Core 
13.1 
19.0  
  
15.1 
12.4  
Barclays Non-Core impact3 
(5.6)
(10.0) 
  
(9.8)
(1.8) 
Barclays Group  
7.5 
9.0  
  
5.3 
10.6  


1  
As part of the restatement, 2013 returns have been revised for the impact of calculating average allocated equity based on estimated fully loaded CRD IV RWAs and capital deductions.  2012 returns remain based on CRD III.
2  
Africa Banking equity used for return on equity has been restated to reflect Barclays’ share of the statutory equity of the BAGL entity (together with that of the Barclays Egypt and Zimbabwe businesses which remain outside the BAGL corporate entity), as well as Barclays’ goodwill on acquisition of these businesses. The tangible equity for return on tangible equity uses the same basis but excludes both Barclays’ goodwill on acquisition and the goodwill and intangibles held within the statutory equity.
3  
Return on average equity and average tangible equity for Head Office and Barclays Non-Core represents the dilution for Barclays Core and the Group respectively.


Appendix I – Performance Management
Restated Returns and Equity by Business 
  
Adjusted 
  
Three Months Ended
Three Months Ended 
  
Year ended
Year ended 
  
31.03.14
31.03.13 
  
31.12.13
31.12.12 
Profit attributable to ordinary equity holders of the parent 
£m
£m 
  
£m
£m 
Personal and Corporate Banking 
480 
427  
  
1,681 
1,703  
Barclaycard 
254 
195  
  
822 
812  
Africa Banking 
103 
114  
  
356 
347  
Investment Bank 
231 
594  
  
1,515 
1,235  
Head Office1 
(15)
(15) 
  
(89)
23  
Barclays Core 
1,053 
1,315  
  
4,285 
4,120  
Barclays Non-Core 
(171)
(305) 
  
(1,890)
515  
Barclays Group 
882 
1,010  
  
2,395 
4,635  
  
  
  
    
  
  
Average Allocated Equity  
  
£m
£m 
  
£m
£m 
Personal and Corporate Banking 
17,385 
17,062  
  
17,330 
15,353  
Barclaycard 
5,620 
5,212  
  
5,289 
4,505  
Africa Banking 
3,699 
4,799  
  
4,387 
4,855  
Investment Bank 
15,553 
16,581  
  
16,095 
12,832  
Head Office1 
(2,636)
(8,377) 
  
(7,136)
3,221  
Barclays Core 
39,621 
35,277  
  
35,965 
40,766  
Barclays Non-Core 
15,215 
17,532  
  
17,053 
10,805  
Barclays Group 
54,836 
52,809  
  
53,018 
51,571  
  
  
  
    
  
  
Average Allocated Tangible Equity  
  
£m
£m 
  
£m
£m 
Personal and Corporate Banking 
13,125 
12,998  
  
13,198 
11,381  
Barclaycard 
4,511 
4,037  
  
4,130 
3,421  
Africa Banking 
2,662 
3,473  
  
3,160 
3,465  
Investment Bank 
14,889 
15,999  
  
15,498 
12,241  
Head Office1 
(3,035)
(8,872) 
  
(7,589)
2,700  
Barclays Core 
32,152 
27,635  
  
28,397 
33,208  
Barclays Non-Core 
15,020 
17,255  
  
16,771 
10,523  
Barclays Group 
47,172 
44,890  
  
45,168 
43,731  

 
1  
Includes risk weighted assets and capital deductions in Head Office, plus the residual balance of average ordinary shareholders’ equity and tangible ordinary shareholders’ equity.
 
 

 
Appendix I – Performance Management
 
Restated Transform Update
 

 
Quarterly CTA Spend
    
  
 
Q113
Q213
Q313
Q413
Q114
  
Total CTA Spend to Date
  
 
£m
£m
£m
£m
£m
  
£m
  
Personal and Corporate Banking
(37)
(55)
(73)
(219)
(57)
  
(441)
  
Barclaycard
- 
(5)
(6)
(38)
(13)
  
(62)
  
Africa Banking
- 
(9)
(2)
(15)
(9)
  
(35)
  
Investment Bank
(116)
-
(3)
(71)
(130)
  
(320)
  
Head Office
(5)
5 
- 
(22)
(7)
  
(29)
  
Barclays Core
(158)
(64)
(84)
(365)
(216)
  
(887)
  
Barclays Non-Core
(356)
(62)
(17)
(103)
(24)
  
(562)
  
Barclays Group
(514)
(126)
(101)
(468)
(240)
  
(1,449)
  
               
  

         
  
  
  
         
  
  
  
Q1 2014 Restated Adjusted Performance Measures excluding CTA
  
 
Profit/(Loss) Before Tax
  
Return on Average Equity1 
Cost: Income Ratio
  
 
31.03.14
31.03.13
    
31.03.14 
31.03.14
  
 
£m
£m
% Change
  
% 
%
  
Personal and Corporate Banking
745 
632 
18 
  
12.1% 
60%
  
Barclaycard
381 
280 
36 
  
18.7% 
39%
  
Africa Banking
249 
264 
(6)
  
11.8% 
61%
  
Investment Bank
621 
927 
(33)
  
8.3% 
71%
  
Head Office
66 
6 
    
0.7% 
19%
  
Barclays Core
2,062 
2,109 
(2)
  
12.2% 
60%
  
Barclays Non-Core
(129)
191 
    
(4.5%) 
118%
  
Barclays Group
1,933 
2,300 
(16)
  
7.7% 
63%
  

         
  
  
  
         
  
  
  
2013 and 2012 Restated Adjusted Performance Measures excluding CTA
  
 
Profit/(Loss) Before Tax
  
Return on Average Equity1 
Cost: Income Ratio
  
 
31.12.13
31.12.12
    
31.12.13 
31.12.13
  
 
£m
£m
% Change
  
% 
%
  
Personal and Corporate Banking
2,617 
2,455 
7 
  
11.3% 
63%
  
Barclaycard
1,232 
1,161 
6 
  
16.2% 
44%
  
Africa Banking
1,075 
1,019 
5 
  
8.5% 
62%
  
Investment Bank
2,470 
2,554 
(3)
  
10.2% 
72%
  
Head Office
6 
190 
(97)
  
2.0% 
100%
  
Barclays Core
7,400 
7,379 
- 
  
13.2% 
63%
  
Barclays Non-Core
(1,024)
220 
    
(7.1%) 
101%
  
Barclays Group
6,376 
7,599 
(16)
  
6.1% 
66%
  
         
  
  
  


1  
Return on average equity and average tangible equity for Head Office and Barclays Non-Core represents the dilution for Barclays Core and the Group respectively.
 

Appendix II – RWAs
 
CRD IV RWAs 
Q1 2014
2013 
  
£bn
£bn
Personal and Corporate Banking 
116.1 
118.3 
Barclaycard 
36.4 
35.7 
Africa Banking 
36.6 
38.0 
Investment Bank 
126.8 
126.0 
Head Office 
7.5 
7.7 
Barclays Core 
323.4 
325.7 
Barclays Non-Core 
106.0 
109.9 
Barclays Group 
429.4 
435.6