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Results Announcement
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Page
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Performance Highlights
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2-5
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Group Finance Director’s Review
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6-8
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Quarterly Results Summary
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9-11
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Quarterly Core Results by Business
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12-15
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Discontinued Operation
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16
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Performance Management
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· Returns and equity by business
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17
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· Margins and balances
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18
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Condensed Consolidated Financial Statements
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19-21
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Capital
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22-23
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Risk Weighted Assets
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24
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Leverage
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25
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Shareholder Information
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26
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·
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Group return on average tangible shareholders’ equity (RoTE) of 3.8% (Q115: 4.0%). Core RoTE of 9.9% (Q115: 7.1%)
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·
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Group attributable profit decreased 7% to £433m, resulting in a basic earnings per share of 2.7p (Q115: 2.9p). Core attributable profit increased 53% to £950m, resulting in a basic earnings per share contribution of 5.8p (Q115: 3.8p)
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·
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Group profit before tax of £793m (Q115: £1,057m) reflected an 18% increase in Core profit before tax to £1,608m, more than offset by an increased Non-Core loss before tax of £815m (Q115: £310m)
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·
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Barclays UK delivered a strong underlying RoTE of 20.5% (Q115: 24.0%). Underlying profit before tax decreased 2% to £704m as lower income was partially offset by improved impairment, with underlying total operating expenses remaining broadly in line. Net interest margin remained stable at 3.62% (Q115: 3.60%)
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·
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Barclays Corporate & International delivered an underlying RoTE of 9.5% (Q115: 10.9%). Income increased 2% driven by growth in Consumer, Cards and Payments and a resilient income performance in the Corporate and Investment Bank (CIB) despite challenging market conditions
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·
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Momentum in the rundown of Non-Core continued, with risk weighted assets (RWAs) decreasing a further £3bn to £51bn in the quarter. The announced sales of the Portuguese and Italian retail, and Asian wealth businesses are all targeted to complete during the year, and are expected to result in a further £3.4bn reduction in RWAs
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·
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Common equity tier 1 (CET1) ratio declined modestly to 11.3% (December 2015: 11.4%) due to increased regulatory deductions and the acquisition of intangibles in relation to the JetBlue credit card portfolio, within US consumer cards. The leverage ratio decreased marginally to 4.3% (December 2015: 4.5%) due to seasonality. Group RWAs increased £5bn in the quarter to £363bn and leverage exposure increased £54bn to £1,082bn
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·
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Net tangible asset value per share increased to 286p (December 2015: 275p) driven by profit generated in the period and favourable reserve movements
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Barclays Group results
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for the three months ended
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31.03.16
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31.03.15
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£m
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£m
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% Change
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|
Total income net of insurance claims
|
5,041
|
5,650
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(11)
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|
Credit impairment charges and other provisions
|
(443)
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(386)
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(15)
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Net operating income
|
4,598
|
5,264
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(13)
|
|
Operating expenses
|
(3,747)
|
(3,067)
|
(22)
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|
Litigation and conduct
|
(78)
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(1,039)
|
92
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|
Total operating expenses
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(3,825)
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(4,106)
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7
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|
Other net income/(expenses)
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20
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(101)
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Profit before tax
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793
|
1,057
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(25)
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Tax charge
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(248)
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(528)
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53
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|
Profit after tax in respect of continuing operations
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545
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529
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3
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|
Profit after tax in respect of discontinued operation1
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166
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196
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(15)
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Non-controlling interests in respect of continuing operations
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(94)
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(88)
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(7)
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Non-controlling interests in respect of discontinued operation1
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(80)
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(92)
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13
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Other equity holders2
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(104)
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(80)
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(30)
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Attributable profit
|
433
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465
|
(7)
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|
|
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Performance measures
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Return on average tangible shareholders' equity2
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3.8%
|
4.0%
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Average tangible shareholders' equity (£bn)
|
48
|
48
|
|
|
Cost: income ratio
|
76%
|
73%
|
|
|
Loan loss rate (bps)
|
40
|
32
|
|
|
|
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||
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Basic earnings per share2
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2.7p
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2.9p
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Dividend per share
|
-
|
1.0p
|
|
|
|
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||
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Balance sheet and capital management
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As at
31.03.16
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As at
31.12.15
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Net tangible asset value per share
|
286p
|
275p
|
|
|
Common equity tier 1 ratio
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11.3%
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11.4%
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Common equity tier 1 capital
|
£40.9bn
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£40.7bn
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Risk weighted assets
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£363bn
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£358bn
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Leverage ratio
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4.3%
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4.5%
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Tier 1 capital
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£46.3bn
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£46.2bn
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Leverage exposure
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£1,082bn
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£1,028bn
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Funding and liquidity
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|
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Group liquidity pool
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£132bn
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£145bn
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Estimated CRD IV liquidity coverage ratio
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129%
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133%
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Loan: deposit ratio3
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84%
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86%
|
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1
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Refer to page 16 for further information on the Africa Banking discontinued operation.
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2
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The profit after tax attributable to other equity holders of £104m (Q115: £80m) is offset by a tax credit recorded in reserves of £29m (Q115: £16m). The net amount of £75m (Q115: £64m), along with non-controlling interests (NCI) is deducted from profit after tax in order to calculate earnings per share and return on average tangible shareholders’ equity.
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3
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Loan: deposit ratio for Barclays UK, Consumer, Cards and Payments, Corporate, and Non-Core retail.
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Barclays Core and Non-Core results
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Barclays Core
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Barclays Non-Core
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|||||
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for the three months ended
|
31.03.16
|
31.03.15
|
|
31.03.16
|
31.03.15
|
|
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£m
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£m
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% Change
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£m
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£m
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% Change
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|
|
Total income net of insurance claims
|
5,283
|
5,428
|
(3)
|
(242)
|
222
|
||
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Credit impairment charges and other provisions
|
(414)
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(345)
|
(20)
|
(29)
|
(41)
|
29
|
|
|
Net operating income/(expenses)
|
4,869
|
5,083
|
(4)
|
(271)
|
181
|
|
|
|
Operating expenses
|
(3,258)
|
(2,618)
|
(24)
|
(489)
|
(449)
|
(9)
|
|
|
Litigation and conduct
|
(12)
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(1,015)
|
99
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(66)
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(24)
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Total operating expenses
|
(3,270)
|
(3,633)
|
10
|
(555)
|
(473)
|
(17)
|
|
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Other net income/(expenses)
|
9
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(83)
|
11
|
(18)
|
|||
|
Profit/(loss) before tax
|
1,608
|
1,367
|
18
|
(815)
|
(310)
|
||
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Tax (charge)/credit
|
(485)
|
(614)
|
21
|
237
|
86
|
||
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Profit/(loss) after tax
|
1,123
|
753
|
49
|
(578)
|
(224)
|
||
|
Non-controlling interests
|
(84)
|
(68)
|
(24)
|
(10)
|
(20)
|
50
|
|
|
Other equity holders
|
(89)
|
(65)
|
(37)
|
(15)
|
(14)
|
(7)
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|
|
Attributable profit/(loss)1
|
950
|
620
|
53
|
(603)
|
(258)
|
||
|
|
|
|
|
||||
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Performance measures
|
|
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|
||||
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Return on average tangible equity
|
9.9%
|
7.1%
|
|
|
|||
|
Average allocated tangible equity (£bn)1
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39
|
36
|
|
9
|
12
|
|
|
|
Period end allocated tangible equity (£bn)1
|
40
|
36
|
|
9
|
12
|
|
|
|
Cost: income ratio
|
62%
|
67%
|
|
n/m
|
n/m
|
|
|
|
Loan loss rate (bps)
|
42
|
35
|
|
21
|
17
|
|
|
|
Basic earnings/(loss) per share contribution
|
5.8p
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3.8p
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(3.6p)
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(1.5p)
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|
|
|
|
|
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||||
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As at
|
As at
|
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As at
|
As at
|
|
|
|
Capital management
|
31.03.16
|
31.12.15
|
|
31.03.16
|
31.12.15
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|
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Risk weighted assets1
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£312bn
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£304bn
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£51bn
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£54bn
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|
|
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Leverage exposure1
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£946bn
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£879bn
|
|
£136bn
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£149bn
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|
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|
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||||
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Notable items
for the three months ended
|
31.03.16
|
31.03.15
|
|
31.03.16
|
31.03.15
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|
|
|
Own credit
|
(109)
|
128
|
|
-
|
-
|
|
|
|
Provisions for ongoing investigations and litigation including Foreign Exchange
|
-
|
(800)
|
|
-
|
-
|
|
|
|
Gains on valuation of a component of the defined retirement benefit liability
|
-
|
429
|
|
-
|
-
|
|
|
|
Provisions for UK customer redress
|
-
|
(167)
|
|
-
|
(15)
|
|
|
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Losses on sale relating to the Spanish business
|
-
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(97)
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|
-
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(21)
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|
|
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1
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Attributable profit in respect of the Africa Banking discontinued operation is reported at the Group level only. Allocated tangible equity, RWAs and leverage exposure are reported in Head Office within Core.
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Three months ended
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Three months ended
|
|
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|
31.03.16
|
31.03.15
|
|
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Income by business
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£m
|
£m
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% Change
|
|
Barclays UK
|
1,803
|
1,831
|
(2)
|
|
Barclays Corporate & International
|
3,513
|
3,454
|
2
|
|
Head Office
|
(33)
|
142
|
|
|
Barclays Core
|
5,283
|
5,428
|
(3)
|
|
Barclays Non-Core
|
(242)
|
222
|
|
|
Barclays Group
|
5,041
|
5,650
|
(11)
|
|
Profit/(loss) before tax by business
|
|
||
|
Barclays UK
|
704
|
844
|
(17)
|
|
Barclays Corporate & International
|
1,027
|
510
|
|
|
Head Office
|
(123)
|
12
|
|
|
Barclays Core
|
1,608
|
1,367
|
18
|
|
Barclays Non-Core
|
(815)
|
(310)
|
|
|
Barclays Group
|
793
|
1,057
|
(25)
|
|
Group performance
|
|
·
|
Profit before tax decreased 25% to £793m, including an own credit loss of £109m (Q115: gain of £128m)
|
|
·
|
Total income net of insurance claims decreased 11% to £5,041m as Non-Core income reduced £464m to a net expense of £242m. Core income, including an own credit loss of £109m (Q115: gain of £128m), decreased 3% to £5,283m despite the appreciation of average USD against GBP
|
|
·
|
Credit impairment charges increased 15% to £443m primarily driven by the impairment of a number of single name exposures, largely in respect of clients in the oil and gas sector. Exposures to the sector remain well managed and the increase in impairment is in line with expectations. The loan loss rate increased 8bps to 40bps
|
|
·
|
Total operating expenses reduced 7% to £3,825m following the non-recurrence of a number of notable items in Q115, partially offset by increased restructuring charges relating to strategic initiatives, increased implementation costs associated with the structural reform programme, continued investment in the Consumer, Cards and Payments business and the appreciation of average USD against GBP
|
|
·
|
The effective tax rate on profit before tax decreased to 31.3% (Q115: 50.0%) reflecting the non-recurrence of non-deductible litigation and conduct charges in Q115
|
|
·
|
Profit after tax in respect of continuing operations increased 3% to £545m
|
|
·
|
Underlying profit before tax, which excludes the impact of notable items, decreased 44% to £902m primarily driven by the underlying loss before tax in Non-Core of £815m (Q115: £274m). Total Group underlying income decreased 7% to £5,150m and total operating expenses increased 8% to £3,825m
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|
·
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Underlying return on average tangible shareholders’ equity was 4.5% (Q115: 9.0%) and basic earnings per share was 3.2p (Q115: 6.6p)
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|
Core performance
|
|
·
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Underlying Core performance generated a RoTE of 10.7% (Q115: 13.4%) driven by the following business performance and reflecting the allocation of Africa Banking average tangible equity to the Core
|
|
·
|
Underlying profit before tax decreased 2% to £704m with a reduction in income, partially offset by lower credit impairment charges
|
|
|
·
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Total income reduced 2% to £1,803m, within which:
|
|
|
-
|
Personal Banking income decreased 1% to £919m driven by a reduction in fee income and mortgage margin pressure, partially offset by improved deposit margins and balance growth
|
|
|
-
|
Barclaycard Consumer UK income decreased 3% to £491m reflecting the impact of the European Interchange Fee Regulation, which came into full effect from December 2015, partially offset by balance growth
|
|
|
-
|
Wealth, Entrepreneurs & Business Banking (WEBB) income decreased 2% to £393m, as the lower equity market drove reduced Wealth income
|
|
|
-
|
Net interest income was broadly flat at £1,501m (Q115: £1,486m). Net interest margin increased to 3.62% (Q115: 3.60%) as increased margins on Personal Banking deposits were partially offset by mortgage margin pressure
|
|
|
·
|
Credit impairment charges reduced 13% to £146m due to the benign economic environment in the UK resulting in lower default rates and charges. The loan loss rate reduced 6bps to 34bps
|
|
|
·
|
Underlying total operating expenses were broadly flat at £953m (Q115: £946m) driven by savings realised from strategic cost programmes, relating to restructuring of the branch network and technology improvements, and lower restructuring costs offset by increased implementation costs associated with the structural reform programme
|
|
|
·
|
Underlying RoTE was 20.5% (Q115: 24.0%)
|
|
|
·
|
Underlying profit before tax decreased 13% to £1,027m driven by a 5% increase in underlying total operating expenses to £2,225m due to increased restructuring charges, appreciation of average USD against GBP and structural reform programme implementation costs and a 51% increase in credit impairment charges to £269m
|
|
·
|
Total income increased 2% to £3,513m, including the appreciation of average USD against GBP, with CIB income decreasing 4% to £2,596m and Consumer, Cards and Payments increasing 24% to £917m
|
|
·
|
Net interest margin increased to 4.61% (Q115: 4.38%) driven by growth in interest earning lending primarily representing the maturation of the US Cards business
|
|
·
|
Underlying RoTE was 9.5% (Q115: 10.9%)
|
|
·
|
Underlying profit before tax decreased 31% to £701m primarily driven by a reduction in Banking and Markets income, increased credit impairment charges and higher operating expenses
|
||
|
·
|
Total income decreased 4% to £2,596m, reflecting the impact of challenging market conditions, partially offset by the appreciation of average USD against GBP
|
||
|
-
|
Markets income decreased 4% to £1,408m, within which:
|
||
|
-
|
Credit income increased 46% to £322m driven by strong performance in the US flow business, which benefited from increased market volatility and client activity
|
||
|
-
|
Equities income decreased 13% to £513m primarily due to declines in equity derivatives reflecting lower client volumes
|
||
|
-
|
Macro income decreased 13% to £573m due to lower income in rates and currency products, reflecting reduced client activity
|
||
|
-
|
Banking income decreased 5% to £1,185m, within which:
|
||
|
-
|
Banking fee income reduced 12% to £481m driven by lower equity underwriting and debt underwriting fees, partially offset by higher financial advisory fees
|
||
|
-
|
Corporate lending income increased 4% to £296m due to strong balance growth and lower losses on fair value hedges
|
||
|
-
|
Transactional banking income was broadly in line at £408m (Q115: £413m) with underlying balance growth and a stable customer margin
|
||
|
·
|
Credit impairment charges of £95m (Q115: release of £1m) arose primarily from impairment of a number of single name exposures, largely in respect of clients in the oil and gas sector
|
||
|
·
|
Underlying total operating expenses increased 6% to £1,800m driven by £93m higher restructuring charges relating to strategic initiatives, the appreciation of average USD against GBP and increased implementation costs associated with the structural reform programme
|
||
|
·
|
Underlying RoTE was 7.3% (Q115: 10.7%)
|
||
|
·
|
Underlying profit before tax increased £163m to £326m driven by strong business growth
|
|
·
|
Total income increased 24% to £917m reflecting continued growth in Barclaycard US and Germany and the appreciation of average USD and EUR against GBP
|
|
·
|
Credit impairment charges reduced 3% to £174m despite balance growth
|
|
·
|
Underlying total operating expenses increased 3% to £425m driven by the continued business growth in Barclaycard US and Germany, and Barclaycard Business Solutions, in addition to the appreciation of average USD and EUR against GBP
|
|
·
|
Underlying RoTE was 23.4% (Q115: 11.8%)
|
|
·
|
Underlying loss before tax was £14m (Q115: £19m) reflecting the net expense from treasury operations and one-off gains from a liability management exercise
|
|
·
|
Underlying loss before tax increased to £815m (Q115: £274m), including fair value losses on the ESHLA portfolio of £374m (Q115: £149m), as gilt swap spreads widened
|
|
|
·
|
Total income net of insurance claims reduced £464m to a net expense of £242m
|
|
|
-
|
Businesses income reduced £108m to £196m primarily due to the impact of lower income following the completion of the sale of the Barclays Wealth Americas and UK Secured Lending businesses
|
|
|
-
|
Securities and loans income reduced £334m to a net expense of £402m primarily driven by fair value losses on the ESHLA portfolio, the non-recurrence of a £91m provision release relating to a litigation matter in Q115, and the exit of historical investment banking businesses
|
|
|
-
|
Derivatives income reduced £22m to a net expense of £36m primarily reflecting funding costs and the rundown of the portfolio
|
|
|
·
|
Credit impairment charges improved 29% to £29m due to higher recoveries in Europe
|
|
|
·
|
Underlying total operating expenses increased 21% to £555m reflecting £182m of restructuring charges in Q116 (Q115: £13m), partially offset by reduced costs following the completion of the sale of the Barclays Wealth Americas
|
|
|
·
|
RWAs decreased a further £3bn to £51bn in the quarter, driven by a £2bn reduction in Derivatives RWAs. The announced sales of the Portuguese and Italian retail, and Asian wealth businesses are all targeted to complete during the year, and are expected to result in a further £3.4bn reduction in Businesses RWAs
|
|
|
·
|
Total assets increased 12% to £1,249bn in the quarter, while leverage exposure increased £54bn to £1,082bn
|
|
|
-
|
Total loans and advances, and other assets increased by £48bn to £673bn. This included a £24bn increase in settlement balances, lending growth of £3bn within Barclays Corporate & International as well as a £4bn increase in Africa Banking assets held for sale reflecting the appreciation of ZAR against GBP
|
|
|
-
|
Net derivative leverage exposure, remained broadly flat as an increase in balance sheet assets of £73bn to £401bn, was offset by an increase in regulatory derivative netting of £72bn to £365bn. The derivative assets increase was mainly due to an increase in interest rate derivatives, reflecting a decrease in the major interest rate forward curves
|
|
|
-
|
Non current assets classified as held for sale increased by £56bn due to the proposed disposal of Barclays Africa Group Limited (BAGL), with offsetting amounts across all balance sheet categories
|
|
|
·
|
Overall, the leverage ratio decreased to 4.3% (December 2015: 4.5%) driven by the leverage exposure increase
|
|
|
·
|
The fully loaded CRD IV CET1 ratio decreased to 11.3% (December 2015: 11.4%) with RWAs increasing by £5bn to £363bn and CET1 capital increasing £0.1bn to £40.9bn
|
|
|
-
|
The increase in RWAs of £5bn to £363bn was primarily due to the appreciation of ZAR and USD against GBP
|
|
|
-
|
The movement in CET1 capital was largely driven by profits generated in the period of £0.3bn, after absorbing the impact of own credit and dividends paid and foreseen. Increases in other qualifying reserves of £0.6bn were offset by higher regulatory adjustments and deductions of £0.6bn
|
|
|
·
|
Net tangible asset value per share increased to 286p (December 2015: 275p) driven by profit generated in the period and favourable cash flow hedge and currency translation reserve movements
|
|
|
·
|
The Group continued to maintain surpluses to its internal and regulatory requirements in Q116 with a liquidity pool of £132bn (December 2015: £145bn) and Liquidity Coverage Ratio (LCR) of 129% (December 2015: 133%), equivalent to a surplus of £31bn (December 2015: £37bn). The decrease in the liquidity pool was mainly driven by the early repayment of the Bank of England’s Funding for Lending Scheme of £12bn
|
|
·
|
Wholesale funding outstanding excluding repurchase agreements was £141bn (December 2015: £142bn). Over the quarter, the Group made good progress on its commitment to transition to a holding company capital and wholesale funding model. The Group successfully issued £4.1bn in senior debt from the holding company across public and private placements, and also bought back £5.3bn of outstanding operating company senior debt and capital instruments. Proceeds raised by Barclays PLC have been used to subscribe for senior unsecured debt at Barclays Bank PLC, the operating company
|
|
·
|
We remain confident in our core franchises and our ability to continue with the Non-Core rundown, but are cautious as we approach the 23rd June EU referendum
|
|
·
|
The income run-rate within the Corporate and Investment Bank in April is slightly down on Q116, but it is too early to make any specific comment on overall Q216 performance
|
|
Barclays Group
|
Q116
|
Q415
|
Q315
|
Q215
|
Q115
|
Q414
|
Q314
|
Q214
|
||
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
||
|
Total income net of insurance claims
|
5,041
|
4,448
|
5,481
|
6,461
|
5,650
|
4,097
|
5,987
|
5,756
|
||
|
Credit impairment charges and other provisions
|
(443)
|
(554)
|
(429)
|
(393)
|
(386)
|
(495)
|
(435)
|
(439)
|
||
|
Net operating income
|
4,598
|
3,894
|
5,052
|
6,068
|
5,264
|
3,602
|
5,552
|
5,317
|
||
|
Operating expenses
|
(3,747)
|
(3,547)
|
(3,552)
|
(3,557)
|
(3,067)
|
(3,696)
|
(3,653)
|
(3,762)
|
||
|
UK bank levy
|
-
|
(426)
|
-
|
-
|
-
|
(418)
|
-
|
-
|
||
|
Litigation and conduct
|
(78)
|
(1,722)
|
(699)
|
(927)
|
(1,039)
|
(1,089)
|
(607)
|
(1,046)
|
||
|
Total operating expenses
|
(3,825)
|
(5,695)
|
(4,251)
|
(4,484)
|
(4,106)
|
(5,203)
|
(4,260)
|
(4,808)
|
||
|
Other net income/(expenses)
|
20
|
(274)
|
(182)
|
(39)
|
(101)
|
(82)
|
(336)
|
(48)
|
||
|
Profit/(loss) before tax
|
793
|
(2,075)
|
619
|
1,545
|
1,057
|
(1,683)
|
956
|
461
|
||
|
Tax (charge)/credit
|
(248)
|
(164)
|
(133)
|
(324)
|
(528)
|
134
|
(507)
|
(215)
|
||
|
Profit/(loss) after tax in respect of continuing operations
|
545
|
(2,239)
|
486
|
1,221
|
529
|
(1,549)
|
449
|
246
|
||
|
Profit after tax in respect of discontinued operation
|
166
|
101
|
167
|
162
|
196
|
168
|
171
|
145
|
||
|
|
||||||||||
|
Attributable to:
|
||||||||||
|
Ordinary equity holders of the parent
|
433
|
(2,422)
|
417
|
1,146
|
465
|
(1,679)
|
379
|
161
|
||
|
Other equity holders
|
104
|
107
|
79
|
79
|
80
|
80
|
80
|
41
|
||
|
Non-controlling interests
|
174
|
177
|
157
|
158
|
180
|
218
|
161
|
189
|
||
|
|
||||||||||
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
||
|
Total assets
|
1,248.9
|
1,120.0
|
1,236.5
|
1,196.7
|
1,416.4
|
1,357.9
|
1,365.7
|
1,314.9
|
||
|
Risk weighted assets
|
363.0
|
358.4
|
381.9
|
376.7
|
395.9
|
401.9
|
412.9
|
411.1
|
||
|
Leverage exposure
|
1,082.0
|
1,027.8
|
1,140.7
|
1,139.3
|
1,254.7
|
1,233.4
|
1,323.9
|
1,353.0
|
||
|
|
||||||||||
|
Performance measures
|
||||||||||
|
Return on average tangible shareholders' equity
|
3.8%
|
(20.1%)
|
3.6%
|
9.8%
|
4.0%
|
(13.8%)
|
3.4%
|
1.4%
|
||
|
Average tangible shareholders' equity (£bn)
|
48.3
|
47.8
|
47.6
|
47.2
|
48.1
|
48.3
|
46.8
|
46.7
|
||
|
Cost: income ratio
|
76%
|
128%
|
78%
|
69%
|
73%
|
127%
|
71%
|
84%
|
||
|
Loan loss rate (bps)
|
40
|
53
|
37
|
35
|
32
|
45
|
39
|
39
|
||
|
Basic earnings/(loss) per share
|
2.7p
|
(14.4p)
|
2.6p
|
7.0p
|
2.9p
|
(10.2p)
|
2.4p
|
1.0p
|
||
|
|
||||||||||
|
Notable items
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
||
|
Own credit
|
(109)
|
(175)
|
195
|
282
|
128
|
(62)
|
44
|
(67)
|
||
|
Gains on US Lehman acquisition assets
|
-
|
-
|
-
|
496
|
-
|
-
|
461
|
-
|
||
|
Revision of ESHLA valuation methodology
|
-
|
-
|
-
|
-
|
-
|
(935)
|
-
|
-
|
||
|
Provisions for UK customer redress
|
-
|
(1,450)
|
(290)
|
(850)
|
(182)
|
(200)
|
(10)
|
(900)
|
||
|
Provisions for ongoing investigations and litigation including Foreign Exchange
|
-
|
(167)
|
(270)
|
-
|
(800)
|
(750)
|
(500)
|
-
|
||
|
Gain on valuation of a component of the defined retirement benefit liability
|
-
|
-
|
-
|
-
|
429
|
-
|
-
|
-
|
||
|
Impairment of goodwill and other assets relating to businesses being disposed
|
-
|
(96)
|
-
|
-
|
-
|
-
|
-
|
-
|
||
|
Losses on sale relating to the Spanish, Portuguese and Italian businesses
|
-
|
(261)
|
(201)
|
-
|
(118)
|
(82)
|
(364)
|
-
|
|
Barclays Core
|
Q116
|
Q415
|
Q315
|
Q215
|
Q115
|
Q414
|
Q314
|
Q214
|
||
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
||
|
Total income net of insurance claims
|
5,283
|
4,516
|
5,265
|
6,219
|
5,428
|
4,791
|
5,368
|
5,216
|
||
|
Credit impairment charges and other provisions
|
(414)
|
(522)
|
(388)
|
(373)
|
(345)
|
(481)
|
(393)
|
(342)
|
||
|
Net operating income
|
4,869
|
3,994
|
4,877
|
5,846
|
5,083
|
4,310
|
4,975
|
4,874
|
||
|
Operating expenses
|
(3,258)
|
(2,992)
|
(3,094)
|
(3,061)
|
(2,618)
|
(3,076)
|
(3,000)
|
(3,097)
|
||
|
UK bank levy
|
-
|
(338)
|
-
|
-
|
-
|
(316)
|
-
|
-
|
||
|
Litigation and conduct
|
(12)
|
(1,634)
|
(419)
|
(819)
|
(1,015)
|
(1,004)
|
(507)
|
(953)
|
||
|
Total operating expenses
|
(3,270)
|
(4,964)
|
(3,513)
|
(3,880)
|
(3,633)
|
(4,396)
|
(3,507)
|
(4,050)
|
||
|
Other net income/(expenses)
|
9
|
(5)
|
13
|
14
|
(83)
|
6
|
322
|
26
|
||
|
Profit/(loss) before tax
|
1,608
|
(975)
|
1,377
|
1,980
|
1,367
|
(80)
|
1,790
|
850
|
||
|
Attributable profit/(loss)
|
950
|
(1,240)
|
961
|
1,381
|
620
|
(417)
|
1,117
|
419
|
||
|
|
||||||||||
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
||
|
Total assets
|
883.6
|
794.2
|
862.0
|
830.5
|
919.4
|
855.5
|
867.9
|
816.5
|
||
|
Risk weighted assets
|
312.2
|
304.1
|
316.3
|
308.1
|
318.0
|
312.8
|
318.8
|
309.0
|
||
|
|
||||||||||
|
Performance measures
|
||||||||||
|
Return on average tangible equity
|
9.9%
|
(12.8%)
|
10.4%
|
15.5%
|
7.1%
|
(4.8%)
|
14.1%
|
5.5%
|
||
|
Average tangible equity (£bn)
|
39.3
|
38.1
|
37.5
|
35.9
|
35.6
|
34.0
|
32.2
|
30.7
|
||
|
Cost: income ratio
|
62%
|
110%
|
67%
|
62%
|
67%
|
92%
|
65%
|
78%
|
||
|
Loan loss rate (bps)
|
42
|
57
|
39
|
38
|
35
|
52
|
41
|
37
|
||
|
Basic earnings/(loss) per share
|
5.8p
|
(7.3p)
|
5.8p
|
8.4p
|
3.8p
|
(2.5p)
|
6.9p
|
2.6p
|
||
|
|
||||||||||
|
Notable items
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
||
|
Own credit
|
(109)
|
(175)
|
195
|
282
|
128
|
(62)
|
44
|
(67)
|
||
|
Gains on US Lehman acquisition assets
|
-
|
-
|
-
|
496
|
-
|
-
|
461
|
-
|
||
|
Provisions for UK customer redress
|
-
|
(1,392)
|
(290)
|
(800)
|
(167)
|
(199)
|
8
|
(844)
|
||
|
Provisions for ongoing investigations and litigation including Foreign Exchange
|
-
|
(167)
|
(69)
|
-
|
(800)
|
(750)
|
(500)
|
-
|
||
|
Gain on valuation of a component of the defined retirement benefit liability
|
-
|
-
|
-
|
-
|
429
|
-
|
-
|
-
|
||
|
Losses on sale relating to the Spanish, Portuguese and Italian businesses
|
-
|
(15)
|
-
|
-
|
(97)
|
-
|
315
|
-
|
|
Barclays Non-Core
|
Q116
|
Q415
|
Q315
|
Q215
|
Q115
|
Q414
|
Q314
|
Q214
|
||
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
||
|
Businesses
|
196
|
229
|
314
|
292
|
304
|
361
|
379
|
376
|
||
|
Securities and loans
|
(402)
|
(195)
|
(87)
|
-
|
(68)
|
(1,021)
|
275
|
172
|
||
|
Derivatives
|
(36)
|
(102)
|
(12)
|
(49)
|
(14)
|
(35)
|
(35)
|
(8)
|
||
|
Total income net of insurance claims
|
(242)
|
(68)
|
215
|
243
|
222
|
(695)
|
619
|
540
|
||
|
Credit impairment charges and other provisions
|
(29)
|
(32)
|
(41)
|
(20)
|
(41)
|
(13)
|
(42)
|
(98)
|
||
|
Net operating (expenses)/income
|
(271)
|
(100)
|
174
|
223
|
181
|
(708)
|
577
|
442
|
||
|
Operating expenses
|
(489)
|
(555)
|
(458)
|
(496)
|
(449)
|
(618)
|
(654)
|
(666)
|
||
|
UK bank levy
|
-
|
(88)
|
-
|
-
|
-
|
(102)
|
-
|
-
|
||
|
Litigation and conduct
|
(66)
|
(89)
|
(279)
|
(108)
|
(24)
|
(85)
|
(100)
|
(93)
|
||
|
Total operating expenses
|
(555)
|
(732)
|
(737)
|
(604)
|
(473)
|
(805)
|
(754)
|
(759)
|
||
|
Other net income/(expenses)
|
11
|
(268)
|
(195)
|
(54)
|
(18)
|
(90)
|
(657)
|
(72)
|
||
|
Loss before tax
|
(815)
|
(1,100)
|
(758)
|
(435)
|
(310)
|
(1,603)
|
(834)
|
(389)
|
||
|
Attributable loss
|
(603)
|
(1,208)
|
(628)
|
(324)
|
(258)
|
(1,347)
|
(819)
|
(333)
|
||
|
|
||||||||||
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
||
|
Loans and advances to banks and customers at amortised cost1
|
55.4
|
51.8
|
57.1
|
60.4
|
73.1
|
70.7
|
72.4
|
83.6
|
||
|
Derivative financial instrument assets
|
249.7
|
213.7
|
243.3
|
223.9
|
305.6
|
288.9
|
252.6
|
229.7
|
||
|
Derivative financial instrument liabilities
|
239.1
|
202.1
|
235.0
|
216.7
|
299.6
|
280.6
|
243.2
|
217.8
|
||
|
Reverse repurchase agreements and other similar secured lending
|
0.7
|
3.1
|
8.5
|
16.7
|
43.7
|
50.7
|
75.3
|
87.8
|
||
|
Financial assets designated at fair value
|
23.4
|
21.4
|
22.8
|
22.1
|
25.0
|
25.5
|
27.3
|
24.9
|
||
|
Total assets
|
365.4
|
325.8
|
374.5
|
366.2
|
497.0
|
502.4
|
497.8
|
498.4
|
||
|
Customer deposits2
|
19.3
|
20.9
|
25.8
|
27.9
|
29.9
|
30.8
|
32.2
|
41.1
|
||
|
Risk weighted assets
|
50.9
|
54.3
|
65.6
|
68.6
|
77.9
|
89.1
|
94.1
|
102.0
|
||
|
|
||||||||||
|
Performance measures
|
||||||||||
|
Average allocated tangible equity (£bn)
|
9.0
|
9.7
|
10.2
|
11.3
|
12.4
|
14.3
|
14.7
|
16.0
|
||
|
Period end allocated tangible equity (£bn)
|
8.5
|
8.5
|
10.2
|
10.1
|
11.7
|
13.1
|
14.1
|
14.9
|
||
|
Loan loss rate (bps)
|
21
|
25
|
27
|
13
|
17
|
10
|
27
|
48
|
||
|
Basic loss per share contribution
|
(3.6p)
|
(7.2p)
|
(3.7p)
|
(1.9p)
|
(1.5p)
|
(8.2p)
|
(5.0p)
|
(2.0p)
|
||
|
|
||||||||||
|
Notable items
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
||
|
Revision of ESHLA valuation methodology
|
-
|
-
|
-
|
-
|
-
|
(935)
|
-
|
-
|
||
|
Provisions for UK customer redress
|
-
|
(58)
|
-
|
(50)
|
(15)
|
(1)
|
(18)
|
(56)
|
||
|
Provisions for ongoing investigations and litigation including Foreign Exchange
|
-
|
-
|
(201)
|
-
|
-
|
-
|
-
|
-
|
||
|
Impairment of goodwill and other assets relating to businesses being disposed
|
-
|
(96)
|
-
|
-
|
-
|
-
|
-
|
-
|
||
|
Losses on sale relating to the Spanish, Portuguese and Italian business
|
-
|
(246)
|
(201)
|
-
|
(21)
|
(82)
|
(679)
|
-
|
|
1
|
As at 31 March 2016 loans and advances included £42.2bn (December 2015: £40.4bn) of loans and advances to customers (including settlement balances of £0.2bn (December 2015: £0.3bn) and cash collateral of £23.7bn (December 2015: £19.0bn), and £13.2bn (December 2015: £11.4bn) of loans and advances to banks (including settlement balances of £0.1bn (December 2015: £nil) and cash collateral of £11.9bn (December 2015: £10.1bn)).
|
|
2
|
As at 31 March 2016 customer deposits included settlement balances of £0.3bn (December 2015: £0.2bn) and cash collateral of £14.5bn (December 2015: £12.3bn).
|
|
Barclays UK
|
|
|||||||||
|
|
Q116
|
|
Q415
|
Q315
|
Q215
|
Q115
|
Q414
|
Q314
|
Q214
|
|
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
|
|
Total income
|
1,803
|
|
1,834
|
1,874
|
1,804
|
1,831
|
1,882
|
1,898
|
1,834
|
|
|
Credit impairment charges and other provisions
|
(146)
|
|
(219)
|
(154)
|
(166)
|
(167)
|
(264)
|
(217)
|
(191)
|
|
|
Net operating income
|
1,657
|
|
1,615
|
1,720
|
1,638
|
1,664
|
1,618
|
1,681
|
1,643
|
|
|
Operating expenses
|
(952)
|
|
(920)
|
(925)
|
(970)
|
(649)
|
(1,041)
|
(1,048)
|
(1,000)
|
|
|
UK bank levy
|
-
|
|
(77)
|
-
|
-
|
-
|
(59)
|
-
|
-
|
|
|
Litigation and conduct
|
(1)
|
|
(1,466)
|
(76)
|
(801)
|
(168)
|
(211)
|
(32)
|
(850)
|
|
|
Total operating expenses
|
(953)
|
|
(2,463)
|
(1,001)
|
(1,771)
|
(817)
|
(1,311)
|
(1,080)
|
(1,850)
|
|
|
Other net income/(expenses)
|
-
|
|
1
|
1
|
1
|
(3)
|
(3)
|
(1)
|
1
|
|
|
Profit/(loss) before tax
|
704
|
|
(847)
|
720
|
(132)
|
844
|
304
|
600
|
(206)
|
|
|
Attributable profit/(loss)
|
467
|
|
(1,078)
|
541
|
(174)
|
664
|
208
|
442
|
(208)
|
|
|
|
|
|||||||||
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
|
|
Loans and advances to customers at amortised cost
|
166.2
|
|
166.1
|
166.7
|
166.1
|
166.0
|
165.3
|
164.3
|
163.5
|
|
|
Total assets
|
201.7
|
|
202.5
|
204.1
|
202.2
|
199.6
|
198.0
|
190.9
|
185.6
|
|
|
Customer deposits
|
179.1
|
|
176.8
|
173.4
|
171.6
|
168.7
|
168.3
|
165.9
|
166.8
|
|
|
Risk weighted assets
|
69.7
|
|
69.5
|
71.0
|
71.7
|
72.3
|
69.3
|
71.3
|
69.5
|
|
|
|
|
|||||||||
|
Performance measures
|
|
|||||||||
|
Return on average tangible equity
|
20.5%
|
|
(46.5%)
|
23.3%
|
(7.3%)
|
28.3%
|
9.3%
|
19.4%
|
(9.1%)
|
|
|
Average allocated tangible equity (£bn)
|
9.3
|
|
9.2
|
9.3
|
9.4
|
9.4
|
9.2
|
9.2
|
9.0
|
|
|
Cost: income ratio
|
53%
|
|
134%
|
53%
|
98%
|
45%
|
70%
|
57%
|
101%
|
|
|
Loan loss rate (bps)
|
34
|
|
51
|
36
|
40
|
40
|
62
|
51
|
46
|
|
|
|
|
|||||||||
|
Notable items
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
|
|
Provisions for UK customer redress
|
-
|
|
(1,391)
|
(73)
|
(800)
|
(167)
|
(199)
|
(24)
|
(844)
|
|
|
Gain on valuation of a component of the defined retirement benefit liability
|
-
|
|
-
|
-
|
-
|
296
|
-
|
-
|
-
|
|
Analysis of Barclays UK
|
|
|
||||||||
|
Analysis of total income
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Personal Banking
|
919
|
|
945
|
938
|
905
|
927
|
|
955
|
968
|
935
|
|
Barclaycard Consumer UK
|
491
|
|
505
|
552
|
503
|
505
|
|
518
|
530
|
519
|
|
Wealth, Entrepreneurs & Business Banking
|
393
|
|
384
|
384
|
396
|
399
|
|
409
|
400
|
380
|
|
Total income
|
1,803
|
|
1,834
|
1,874
|
1,804
|
1,831
|
|
1,882
|
1,898
|
1,834
|
|
|
|
|
||||||||
|
Analysis of credit impairment charges and other provisions
|
|
|
||||||||
|
Personal Banking
|
(42)
|
|
(39)
|
(36)
|
(50)
|
(69)
|
|
(57)
|
(57)
|
(40)
|
|
Barclaycard Consumer UK
|
(105)
|
|
(176)
|
(111)
|
(106)
|
(95)
|
|
(185)
|
(139)
|
(129)
|
|
Wealth, Entrepreneurs & Business Banking
|
1
|
|
(4)
|
(7)
|
(10)
|
(3)
|
|
(22)
|
(21)
|
(22)
|
|
Total credit impairment charges and other provisions
|
(146)
|
|
(219)
|
(154)
|
(166)
|
(167)
|
|
(264)
|
(217)
|
(191)
|
|
|
|
|
||||||||
|
Analysis of loans and advances to customers at amortised cost
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
|
Personal Banking
|
134.7
|
|
134.0
|
134.5
|
134.4
|
134.3
|
|
133.8
|
133.3
|
132.6
|
|
Barclaycard Consumer UK
|
16.0
|
|
16.2
|
15.9
|
15.8
|
15.7
|
|
15.8
|
15.5
|
15.2
|
|
Wealth, Entrepreneurs & Business Banking
|
15.5
|
|
15.9
|
16.3
|
15.9
|
16.0
|
|
15.7
|
15.5
|
15.7
|
|
Total loans and advances to customers at amortised cost
|
166.2
|
|
166.1
|
166.7
|
166.1
|
166.0
|
|
165.3
|
164.3
|
163.5
|
|
|
|
|
||||||||
|
Analysis of customer deposits
|
|
|
||||||||
|
Personal Banking
|
132.9
|
|
131.0
|
128.4
|
126.7
|
123.4
|
|
124.5
|
122.2
|
121.1
|
|
Barclaycard Consumer UK
|
-
|
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
|
Wealth, Entrepreneurs & Business Banking
|
46.2
|
|
45.8
|
45.0
|
44.9
|
45.3
|
|
43.8
|
43.7
|
45.7
|
|
Total customer deposits
|
179.1
|
|
176.8
|
173.4
|
171.6
|
168.7
|
|
168.3
|
165.9
|
166.8
|
|
Barclays Corporate & International
|
|
|||||||||
|
|
Q116
|
|
Q415
|
Q315
|
Q215
|
Q115
|
|
Q414
|
Q314
|
Q214
|
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Total income
|
3,513
|
|
2,968
|
3,223
|
4,102
|
3,454
|
|
2,945
|
3,370
|
3,367
|
|
Credit impairment charges and other provisions
|
(269)
|
|
(303)
|
(235)
|
(206)
|
(178)
|
|
(217)
|
(176)
|
(151)
|
|
Net operating income
|
3,244
|
|
2,665
|
2,988
|
3,896
|
3,276
|
|
2,728
|
3,194
|
3,216
|
|
Operating expenses
|
(2,221)
|
|
(2,007)
|
(2,059)
|
(2,027)
|
(1,936)
|
|
(2,014)
|
(1,943)
|
(2,068)
|
|
UK bank levy
|
-
|
|
(253)
|
-
|
-
|
-
|
|
(248)
|
-
|
-
|
|
Litigation and conduct
|
(4)
|
|
(151)
|
(302)
|
(12)
|
(845)
|
|
(786)
|
(470)
|
(62)
|
|
Total operating expenses
|
(2,225)
|
|
(2,411)
|
(2,361)
|
(2,039)
|
(2,781)
|
|
(3,048)
|
(2,413)
|
(2,130)
|
|
Other net income
|
8
|
|
8
|
9
|
13
|
15
|
|
7
|
9
|
24
|
|
Profit/(loss) before tax
|
1,027
|
|
262
|
636
|
1,870
|
510
|
|
(313)
|
790
|
1,110
|
|
Attributable profit/(loss)
|
575
|
|
(24)
|
422
|
1,376
|
(16)
|
|
(673)
|
449
|
594
|
|
|
|
|
||||||||
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
|
Loans and advances to banks and customers at amortised cost1
|
215.9
|
|
184.1
|
220.3
|
210.5
|
224.7
|
|
193.6
|
206.5
|
200.6
|
|
Trading portfolio assets
|
64.3
|
|
61.9
|
72.8
|
75.3
|
92.7
|
|
87.3
|
91.5
|
92.8
|
|
Derivative financial instrument assets
|
150.1
|
|
111.5
|
133.7
|
116.0
|
172.8
|
|
149.6
|
128.7
|
101.8
|
|
Derivative financial instrument liabilities
|
155.4
|
|
119.0
|
142.0
|
124.8
|
182.3
|
|
157.3
|
134.6
|
106.7
|
|
Reverse repurchase agreements and other similar secured lending
|
19.1
|
|
24.7
|
68.0
|
57.4
|
57.1
|
|
62.9
|
81.5
|
82.1
|
|
Financial assets designated at fair value
|
59.6
|
|
46.8
|
5.6
|
5.6
|
5.2
|
|
5.7
|
10.9
|
10.9
|
|
Total assets
|
618.4
|
|
532.2
|
596.1
|
566.1
|
656.2
|
|
596.5
|
608.5
|
561.9
|
|
Customer deposits2
|
213.1
|
|
185.6
|
207.0
|
197.7
|
206.2
|
|
188.2
|
205.0
|
198.0
|
|
Risk weighted assets
|
202.2
|
|
194.8
|
204.0
|
195.4
|
202.6
|
|
201.7
|
205.9
|
198.7
|
|
|
|
|
||||||||
|
Performance measures
|
|
|
||||||||
|
Return on average tangible equity
|
9.5%
|
|
(0.2%)
|
7.0%
|
22.5%
|
(0.1%)
|
|
(10.4%)
|
7.4%
|
9.6%
|
|
Average allocated tangible equity (£bn)
|
25.1
|
|
24.9
|
24.7
|
24.7
|
25.3
|
|
25.6
|
24.6
|
24.8
|
|
Cost: income ratio
|
63%
|
|
81%
|
73%
|
50%
|
81%
|
|
103%
|
72%
|
63%
|
|
Loan loss rate (bps)
|
50
|
|
65
|
42
|
38
|
32
|
|
44
|
34
|
30
|
|
|
|
|
||||||||
|
Notable items
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Gains on US Lehman acquisition assets
|
-
|
|
-
|
-
|
496
|
-
|
|
-
|
461
|
-
|
|
Provisions for UK customer redress
|
-
|
|
-
|
(218)
|
-
|
-
|
|
-
|
32
|
-
|
|
Provisions for ongoing investigations and litigation including Foreign Exchange
|
-
|
|
(145)
|
(39)
|
-
|
(800)
|
|
(750)
|
(500)
|
-
|
|
Gain on valuation of a component of the defined retirement benefit liability
|
-
|
|
-
|
-
|
-
|
133
|
|
-
|
-
|
-
|
|
1
|
As at 31 March 2016 loans and advances included £189.8bn (December 2015: £162.6bn) of loans and advances to customers (including settlement balances of £39.7bn (December 2015: £18.5bn) and cash collateral of £27.6bn (December 2015: £24.8bn)), and £26.1bn (December 2015: £21.5bn) of loans and advances to banks (including settlement balances of £4.2bn (December 2015: £1.6bn) and cash collateral of £7.0bn (December 2015: £5.7bn)). Loans and advances to banks and customers in respect of Consumer, Cards and Payments were £32.9bn (December 2015: £32.1bn).
|
|
2
|
As at 31 March 2016 customer deposits included settlement balances of £37.7bn (December 2015: £16.3bn) and cash collateral of £17.2bn (December 2015: £15.9bn).
|
|
Analysis of Barclays Corporate & International
|
|
|||||||||
|
|
|
|
||||||||
|
Corporate and Investment Bank
|
Q116
|
|
Q415
|
Q315
|
Q215
|
Q115
|
|
Q414
|
Q314
|
Q214
|
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Analysis of total income
|
|
|
||||||||
|
Credit
|
322
|
|
195
|
191
|
218
|
220
|
|
117
|
189
|
221
|
|
Equities
|
513
|
|
319
|
416
|
588
|
589
|
|
418
|
370
|
597
|
|
Macro
|
573
|
|
382
|
487
|
582
|
657
|
|
436
|
472
|
510
|
|
Markets
|
1,408
|
|
896
|
1,094
|
1,388
|
1,466
|
|
971
|
1,031
|
1,328
|
|
Banking fees
|
481
|
|
458
|
501
|
580
|
548
|
|
529
|
420
|
658
|
|
Corporate lending
|
296
|
|
312
|
377
|
387
|
285
|
|
334
|
334
|
288
|
|
Transactional banking
|
408
|
|
415
|
419
|
416
|
413
|
|
404
|
420
|
385
|
|
Banking
|
1,185
|
|
1,185
|
1,297
|
1,383
|
1,246
|
|
1,267
|
1,174
|
1,331
|
|
Other
|
3
|
|
16
|
(17)
|
495
|
1
|
|
(4)
|
460
|
20
|
|
Total income
|
2,596
|
|
2,097
|
2,374
|
3,266
|
2,713
|
|
2,234
|
2,665
|
2,679
|
|
Credit impairment (charges)/releases and other provisions
|
(95)
|
|
(83)
|
(75)
|
(42)
|
1
|
|
(26)
|
(24)
|
(13)
|
|
Total operating expenses
|
(1,800)
|
|
(1,962)
|
(1,940)
|
(1,605)
|
(2,422)
|
|
(2,614)
|
(2,036)
|
(1,791)
|
|
Profit/(loss) before tax
|
701
|
|
52
|
358
|
1,620
|
292
|
|
(408)
|
606
|
876
|
|
|
|
|
||||||||
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
|
Risk weighted assets
|
172.6
|
|
167.3
|
177.4
|
170.0
|
177.1
|
175.2
|
180.5
|
173.8
|
|
|
|
|
|
||||||||
|
Performance measures
|
|
|
||||||||
|
Return on average tangible equity
|
7.3%
|
|
(2.5%)
|
4.5%
|
22.3%
|
(2.5%)
|
|
(12.8%)
|
6.1%
|
7.7%
|
|
Average allocated tangible equity (£bn)
|
21.6
|
|
21.8
|
21.7
|
21.7
|
22.3
|
22.5
|
21.6
|
21.9
|
|
|
Excluding notable items, the Corporate and Investment Bank return on average tangible equity was 7.3% (Q115: 10.7%).
|
|
Consumer, Cards and Payments
|
|
|
||||||||
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Total income
|
917
|
|
871
|
849
|
836
|
741
|
|
711
|
705
|
688
|
|
Credit impairment charges and other provisions
|
(174)
|
|
(219)
|
(160)
|
(165)
|
(179)
|
|
(190)
|
(153)
|
(138)
|
|
Total operating expenses
|
(425)
|
|
(449)
|
(421)
|
(434)
|
(359)
|
|
(434)
|
(377)
|
(339)
|
|
Profit before tax
|
326
|
|
210
|
278
|
250
|
218
|
|
93
|
185
|
235
|
|
|
|
|
||||||||
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
|
Loans and advances to banks and customers at amortised cost
|
32.9
|
|
32.1
|
30.6
|
29.6
|
29.8
|
|
29.7
|
28.4
|
27.0
|
|
Customer deposits
|
44.2
|
|
41.8
|
39.8
|
38.4
|
40.1
|
|
37.9
|
37.1
|
33.1
|
|
|
|
|
||||||||
|
Performance measures
|
|
|
||||||||
|
Return on average tangible equity
|
23.4%
|
|
15.3%
|
24.7%
|
23.4%
|
17.5%
|
|
6.6%
|
17.3%
|
24.4%
|
|
Excluding notable items, the Consumer, Cards and Payments return on average tangible equity was 23.4% (Q115: 11.8%).
|
|
Head Office
|
|
|
||||||||
|
|
Q116
|
|
Q415
|
Q315
|
Q215
|
Q115
|
|
Q414
|
Q314
|
Q214
|
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Total income
|
(33)
|
|
(285)
|
169
|
312
|
142
|
|
(36)
|
100
|
15
|
|
Credit impairment releases/(charges) and other provisions
|
1
|
|
-
|
1
|
(1)
|
-
|
|
-
|
-
|
-
|
|
Net operating (expenses)/income
|
(32)
|
|
(285)
|
170
|
311
|
142
|
|
(36)
|
100
|
15
|
|
Operating expenses
|
(85)
|
|
(64)
|
(110)
|
(64)
|
(34)
|
|
(21)
|
(10)
|
(28)
|
|
UK bank levy
|
-
|
|
(8)
|
-
|
-
|
-
|
|
(9)
|
-
|
-
|
|
Litigation and conduct
|
(7)
|
|
(17)
|
(42)
|
(6)
|
(1)
|
|
(7)
|
(4)
|
(42)
|
|
Total operating expenses
|
(92)
|
|
(89)
|
(152)
|
(70)
|
(35)
|
|
(37)
|
(14)
|
(70)
|
|
Other net income/(expenses)
|
1
|
|
(14)
|
2
|
1
|
(95)
|
|
3
|
314
|
-
|
|
(Loss)/profit before tax
|
(123)
|
|
(388)
|
20
|
242
|
12
|
|
(70)
|
400
|
(55)
|
|
Attributable (loss)/profit
|
(92)
|
|
(140)
|
(1)
|
180
|
(28)
|
|
47
|
226
|
33
|
|
|
|
|
||||||||
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
|
Total assets1
|
63.4
|
|
59.4
|
61.8
|
62.2
|
63.6
|
|
61.0
|
68.5
|
69.0
|
|
Risk weighted assets1
|
40.3
|
|
39.7
|
41.3
|
41.0
|
43.1
|
|
41.8
|
41.6
|
40.9
|
|
|
|
|
||||||||
|
Notable items
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Own credit
|
(109)
|
|
(175)
|
195
|
282
|
128
|
|
(62)
|
44
|
(67)
|
|
Provisions for ongoing investigations and litigation including Foreign Exchange
|
-
|
|
(23)
|
(29)
|
-
|
-
|
|
-
|
-
|
-
|
|
Losses on sale relating to the Spanish, Portuguese and Italian businesses
|
-
|
|
(15)
|
-
|
-
|
(97)
|
|
-
|
315
|
-
|
|
1
|
Includes Africa Banking assets held for sale and risk weighted assets.
|
|
Africa Banking
|
|
|
||||||||
|
|
Q116
|
|
Q415
|
Q315
|
Q215
|
Q115
|
|
Q414
|
Q314
|
Q214
|
|
Income statement information
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
Total income net of insurance claims
|
818
|
|
814
|
822
|
870
|
908
|
|
925
|
895
|
860
|
|
Credit impairment charges and other provisions
|
(111)
|
|
(93)
|
(66)
|
(103)
|
(91)
|
|
(79)
|
(74)
|
(99)
|
|
Net operating income
|
707
|
|
721
|
756
|
767
|
817
|
|
846
|
821
|
761
|
|
Operating expenses
|
(477)
|
|
(501)
|
(515)
|
(536)
|
(539)
|
|
(585)
|
(557)
|
(534)
|
|
UK bank levy
|
-
|
|
(50)
|
-
|
-
|
-
|
|
(44)
|
-
|
-
|
|
Litigation and conduct
|
-
|
|
-
|
-
|
-
|
-
|
|
(1)
|
(1)
|
-
|
|
Total operating expenses
|
(477)
|
|
(551)
|
(515)
|
(536)
|
(539)
|
|
(630)
|
(558)
|
(534)
|
|
Other net income
|
1
|
|
3
|
1
|
1
|
2
|
|
2
|
1
|
2
|
|
Profit before tax
|
231
|
|
173
|
242
|
232
|
280
|
|
218
|
264
|
229
|
|
Profit after tax
|
166
|
|
101
|
168
|
161
|
196
|
|
167
|
171
|
147
|
|
Attributable profit
|
86
|
|
25
|
85
|
88
|
104
|
|
85
|
82
|
75
|
|
|
|
|
||||||||
|
Balance sheet information
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
|
Total assets
|
52.7
|
|
47.9
|
50.2
|
52.2
|
55.9
|
|
53.7
|
52.9
|
50.8
|
|
Risk weighted assets
|
33.9
|
|
31.7
|
33.8
|
34.4
|
37.3
|
|
36.7
|
36.2
|
34.9
|
|
Returns and equity by business
|
|
|
|
|
|
|
|
|
Three months ended
|
Three months ended
|
|
|
31.03.16
|
31.03.15
|
|
Profit/(loss) attributable to ordinary equity holders of the parent1
|
£m
|
£m
|
|
Barclays UK
|
473
|
667
|
|
Barclays Corporate & International
|
596
|
(7)
|
|
Head Office
|
(94)
|
(27)
|
|
Barclays Core
|
975
|
633
|
|
Barclays Non-Core
|
(599)
|
(255)
|
|
|
|
|
|
Barclays Group (including Africa Banking discontinued operation)
|
462
|
482
|
|
|
|
|
|
|
Three months ended
|
Three months ended
|
|
|
31.03.16
|
31.03.15
|
|
Average allocated tangible equity
|
£bn
|
£bn
|
|
Barclays UK
|
9.3
|
9.4
|
|
Barclays Corporate & International
|
25.1
|
25.3
|
|
Head Office2
|
4.9
|
0.9
|
|
Barclays Core
|
39.3
|
35.6
|
|
Barclays Non-Core
|
9.0
|
12.4
|
|
Barclays Group
|
48.3
|
48.1
|
|
|
|
|
|
|
Three months ended
|
Three months ended
|
|
|
31.03.16
|
31.03.15
|
|
Return on average tangible equity
|
%
|
%
|
|
Barclays UK
|
20.5%
|
28.3%
|
|
Barclays Corporate & International
|
9.5%
|
(0.1%)
|
|
Barclays Core
|
9.9%
|
7.1%
|
|
|
|
|
|
Barclays Group
|
3.8%
|
4.0%
|
|
1
|
Profit for the period attributable to ordinary equity holders of the parent includes the tax credit recorded in reserves in respect of interest payments on other equity instruments.
|
|
2
|
Based on risk weighted assets and capital deductions in Head Office plus the residual balance of average tangible ordinary shareholders’ equity.
|
|
Margins and balances
|
|
|
|
|
|
|
|
|
|
Three months ended 31.03.16
|
Three months ended 31.03.15
|
|||||
|
|
Net interest income
|
Average customer assets
|
Net interest margin
|
Net interest income
|
Average customer assets
|
Net interest margin
|
|
|
|
£m
|
£m
|
%
|
£m
|
£m
|
%
|
|
|
Barclays UK
|
1,501
|
166,727
|
3.62
|
1,486
|
167,507
|
3.60
|
|
|
Barclays Corporate & International1
|
974
|
85,010
|
4.61
|
869
|
80,441
|
4.38
|
|
|
Total Barclays UK and Barclays Corporate & International
|
2,475
|
251,737
|
3.95
|
2,355
|
247,948
|
3.85
|
|
|
Other2
|
212
|
171
|
|||||
|
Total net interest income
|
2,687
|
2,526
|
|||||
|
Quarterly analysis for Barclays UK and Barclays Corporate & International
|
Three months ended 31.12.15
|
||
|
|
Net interest income
|
Average customer assets
|
Net interest margin
|
|
|
£m
|
£m
|
%
|
|
Barclays UK
|
1,509
|
167,405
|
3.58
|
|
Barclays Corporate & International1
|
965
|
83,342
|
4.59
|
|
Total Barclays UK and Barclays Corporate & International
|
2,474
|
250,747
|
3.91
|
|
|
|||
|
|
Three months ended 30.09.15
|
||
|
Barclays UK
|
1,499
|
167,936
|
3.54
|
|
Barclays Corporate & International1
|
947
|
81,311
|
4.62
|
|
Total Barclays UK and Barclays Corporate & International
|
2,446
|
249,247
|
3.89
|
|
|
|||
|
|
Three months ended 30.06.15
|
||
|
Barclays UK
|
1,479
|
167,546
|
3.54
|
|
Barclays Corporate & International1
|
942
|
81,115
|
4.66
|
|
Total Barclays UK and Barclays Corporate & International
|
2,421
|
248,661
|
3.91
|
|
1
|
Excludes Investment Bank.
|
|
2
|
Other includes Investment Bank, Head Office and Barclays Non-Core.
|
|
Consolidated summary income statement
|
||
|
|
Three months ended
|
Three months ended
|
|
Continuing operations
|
31.03.16
|
31.03.151
|
|
|
£m
|
£m
|
|
Total income net of insurance claims
|
5,041
|
5,650
|
|
Credit impairment charges and other provisions
|
(443)
|
(386)
|
|
Net operating income
|
4,598
|
5,264
|
|
Operating expenses
|
(3,747)
|
(3,067)
|
|
Litigation and conduct
|
(78)
|
(1,039)
|
|
Operating expenses
|
(3,825)
|
(4,106)
|
|
Other net income
|
20
|
(101)
|
|
Profit before tax
|
793
|
1,057
|
|
Tax charge
|
(248)
|
(528)
|
|
Profit after tax in respect of continuing operations
|
545
|
529
|
|
Profit after tax in respect of discontinued operation
|
166
|
196
|
|
Profit after tax
|
711
|
725
|
|
|
||
|
Attributable to:
|
||
|
Ordinary equity holders of the parent
|
433
|
465
|
|
Other equity holders
|
104
|
80
|
|
Total equity holders
|
537
|
545
|
|
Non-controlling interests in respect of continuing operations
|
94
|
88
|
|
Non-controlling interests in respect of discontinued operation
|
80
|
92
|
|
Profit after tax
|
711
|
725
|
|
|
||
|
Earnings per share2
|
||
|
Basic earnings per ordinary share
|
2.7p
|
2.9p
|
|
Basic earnings per ordinary share in respect of continuing operations
|
2.2p
|
2.3p
|
|
Basic earnings per ordinary share in respect of discontinued operation
|
0.5p
|
0.6p
|
|
1
|
Comparatives have been restated to reflect Africa Banking results as a discontinued operation.
|
|
2
|
The profit after tax attributable to other equity holders of £104m (Q115: £80m) is offset by a tax credit recorded in reserves of £29m (Q115: £16m). The net amount of £75m (Q115: £64m), along with non-controlling interests (NCI) is deducted from profit after tax in order to calculate earnings per share and return on average tangible shareholders’ equity.
|
|
Consolidated summary balance sheet
|
|
|
|
|
As at
|
As at
|
|
|
31.03.16
|
31.12.15
|
|
Assets
|
£m
|
£m
|
|
Cash, balances at central banks
|
50,573
|
49,711
|
|
Items in the course of collection from other banks
|
1,224
|
1,011
|
|
Trading portfolio assets
|
75,550
|
77,348
|
|
Financial assets designated at fair value
|
85,317
|
76,830
|
|
Derivative financial instruments
|
400,592
|
327,709
|
|
Available for sale financial investments
|
87,392
|
90,267
|
|
Loans and advances to banks
|
45,740
|
41,349
|
|
Loans and advances to customers
|
399,375
|
399,217
|
|
Reverse repurchase agreements and other similar secured lending
|
20,296
|
28,187
|
|
Goodwill and intangible assets
|
7,323
|
8,222
|
|
Non current assets classified as held for sale
|
63,377
|
7,364
|
|
Other assets
|
12,117
|
12,797
|
|
Total assets
|
1,248,876
|
1,120,012
|
|
|
|
|
|
Liabilities
|
|
|
|
Deposits from banks
|
53,201
|
47,080
|
|
Items in the course of collection due to other banks
|
927
|
1,013
|
|
Customer accounts
|
418,076
|
418,242
|
|
Repurchase agreements and other similar secured borrowing
|
22,241
|
25,035
|
|
Trading portfolio liabilities
|
34,141
|
33,967
|
|
Financial liabilities designated at fair value
|
96,936
|
91,745
|
|
Derivative financial instruments
|
395,148
|
324,252
|
|
Debt securities in issue1
|
63,988
|
69,150
|
|
Subordinated liabilities
|
21,195
|
21,467
|
|
Non current liabilities classified as held for sale
|
58,152
|
5,997
|
|
Other liabilities
|
16,503
|
16,200
|
|
Total liabilities
|
1,180,508
|
1,054,148
|
|
|
|
|
|
Equity
|
|
|
|
Called up share capital and share premium
|
21,712
|
21,586
|
|
Other reserves
|
3,868
|
1,898
|
|
Retained earnings
|
31,274
|
31,021
|
|
Shareholders' equity attributable to ordinary shareholders of the parent
|
56,854
|
54,505
|
|
Other equity instruments
|
5,312
|
5,305
|
|
Total equity excluding non-controlling interests
|
62,166
|
59,810
|
|
Non-controlling interests
|
6,202
|
6,054
|
|
Total equity
|
68,368
|
65,864
|
|
|
|
|
|
Total liabilities and equity
|
1,248,876
|
1,120,012
|
|
1
|
Debt securities in issue include covered bonds of £12,852m (December 2015: £12,300m).
|
|
Consolidated statement of changes in equity
|
|||||||
|
|
|
|
|
||||
|
Three months ended 31.03.16
|
Called up share capital and share premium
|
Other equity instruments
|
Other reserves1
|
Retained earnings
|
Total
|
Non-controlling interests
|
Total
equity
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
|
|
Balance as at 1 January 2016
|
21,586
|
5,305
|
1,898
|
31,021
|
59,810
|
6,054
|
65,864
|
|
Profit after tax
|
-
|
104
|
-
|
433
|
537
|
174
|
711
|
|
Other comprehensive profit after tax for the period
|
-
|
-
|
1,970
|
43
|
2,013
|
160
|
2,173
|
|
Issue of shares
|
126
|
-
|
-
|
119
|
245
|
-
|
245
|
|
Issue and exchange of equity instruments
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Dividends
|
-
|
-
|
-
|
-
|
-
|
(180)
|
(180)
|
|
Coupons paid on other equity instruments
|
-
|
(104)
|
-
|
29
|
(75)
|
-
|
(75)
|
|
Treasury shares
|
-
|
-
|
-
|
(372)
|
(372)
|
-
|
(372)
|
|
Other movements
|
-
|
7
|
-
|
1
|
8
|
(6)
|
2
|
|
Balance as at 31 March 2016
|
21,712
|
5,312
|
3,868
|
31,274
|
62,166
|
6,202
|
68,368
|
|
1
|
Other reserves includes currency translation reserve of £0.2bn credit (December 2015: £0.6bn debit), available for sale investments of £0.2bn (December 2015: £0.3bn), cash flow hedge reserve of £2.5bn (December 2015: £1.3bn), and other reserves and treasury shares of £0.9bn (December 2015: £0.9bn).
|
|
Capital ratios
|
As at
|
As at
|
|
31.03.16
|
31.12.15
|
|
|
Fully loaded CET11
|
11.3%
|
11.4%
|
|
PRA Transitional Tier 12,3
|
14.3%
|
14.7%
|
|
PRA Transitional Total Capital2,3
|
18.2%
|
18.6%
|
|
|
||
|
Capital resources
|
£m
|
£m
|
|
Shareholders' equity (excluding non-controlling interests) per the balance sheet
|
62,166
|
59,810
|
|
Less: other equity instruments (recognised as AT1 capital)
|
(5,312)
|
(5,305)
|
|
Adjustment to retained earnings for foreseeable dividends
|
(760)
|
(631)
|
|
|
||
|
Minority interests (amount allowed in consolidated CET1)
|
1,046
|
950
|
|
|
||
|
Other regulatory adjustments and deductions:
|
||
|
Additional value adjustments (PVA)
|
(2,124)
|
(1,602)
|
|
Goodwill and intangible assets
|
(8,457)
|
(8,234)
|
|
Deferred tax assets that rely on future profitability excluding temporary differences
|
(771)
|
(855)
|
|
Fair value reserves related to gains or losses on cash flow hedges
|
(2,497)
|
(1,231)
|
|
Excess of expected losses over impairment
|
(1,377)
|
(1,365)
|
|
Gains or losses on liabilities at fair value resulting from own credit
|
56
|
127
|
|
Defined-benefit pension fund assets
|
(859)
|
(689)
|
|
Direct and indirect holdings by an institution of own CET1 instruments
|
(54)
|
(57)
|
|
Other regulatory adjustments
|
(199)
|
(177)
|
|
Fully loaded CET1 capital
|
40,858
|
40,741
|
|
|
||
|
Additional Tier 1 (AT1) capital
|
||
|
Capital instruments and related share premium accounts
|
5,312
|
5,305
|
|
Qualifying AT1 capital (including minority interests) issued by subsidiaries
|
5,816
|
6,718
|
|
Other regulatory adjustments and deductions
|
(130)
|
(130)
|
|
Transitional Additional Tier 1 capital4
|
10,998
|
11,893
|
|
PRA Transitional Tier 1 capital
|
51,856
|
52,634
|
|
|
||
|
Tier 2 (T2) capital
|
||
|
Capital instruments and related share premium accounts
|
1,855
|
1,757
|
|
Qualifying T2 capital (including minority interests) issued by subsidiaries
|
12,741
|
12,389
|
|
Other regulatory adjustments and deductions
|
(253)
|
(253)
|
|
PRA Transitional total regulatory capital
|
66,199
|
66,527
|
|
1
|
The CRD IV CET1 ratio (FSA October 2012 transitional statement) as applicable to Barclays’ Tier 2 Contingent Capital Notes was 12.5% based on £45.3bn of transitional CRD IV CET1 capital and £363bn of RWAs.
|
|
2
|
The PRA transitional capital is based on the PRA Rulebook and accompanying supervisory statements.
|
|
3
|
As at 31 March 2016, Barclays’ fully loaded Tier 1 capital was £46,322m, and the fully loaded Tier 1 ratio was 12.8%. Fully loaded total regulatory capital was £62,322m and the fully loaded total capital ratio was 17.2%. The fully loaded Tier 1 capital and total capital measures are calculated without applying the transitional provisions set out in CRD IV and assessing compliance of AT1 and T2 instruments against the relevant criteria in CRD IV.
|
|
4
|
Of the £11.0bn transitional AT1 capital, fully loaded AT1 capital used for the leverage ratio comprises the £5.3bn capital instruments and related share premium accounts, £0.3bn qualifying minority interests and £0.1bn capital deductions. It excludes legacy Tier 1 capital instruments issued by subsidiaries that are subject to grandfathering.
|
|
Movement in CET1 capital
|
Three months
|
|
ended
|
|
|
31.03.16
|
|
|
£m
|
|
|
Opening CET1 capital
|
40,741
|
|
|
|
|
Profit for the period attributable to equity holders
|
537
|
|
Own credit
|
(71)
|
|
Dividends paid and foreseen
|
(204)
|
|
Increase in retained regulatory capital generated from earnings
|
262
|
|
|
|
|
Net impact of share schemes
|
(127)
|
|
Available for sale reserves
|
(63)
|
|
Currency translation reserves
|
793
|
|
Other reserves
|
(28)
|
|
Increase in other qualifying reserves
|
575
|
|
|
|
|
Retirement benefit reserve
|
46
|
|
Defined-benefit pension fund asset deduction
|
(170)
|
|
Net impact of pensions
|
(124)
|
|
|
|
|
Minority interests
|
96
|
|
Additional value adjustments (PVA)
|
(522)
|
|
Goodwill and intangible assets
|
(223)
|
|
Deferred tax assets that rely on future profitability excluding those arising from temporary differences
|
84
|
|
Excess of expected loss over impairment
|
(12)
|
|
Direct and indirect holdings by an institution of own CET1 instruments
|
3
|
|
Other regulatory adjustments
|
(22)
|
|
Increase in regulatory adjustments and deductions
|
(596)
|
|
|
|
|
Closing CET1 capital
|
40,858
|
|
·
|
During Q116 the CET1 ratio decreased to 11.3% (December 2015: 11.4%) primarily driven by an increase in RWAs of £4.7bn to £363.0bn
|
|
|
·
|
CET1 capital increased by £0.1bn to £40.9bn. Significant movements in the period were:
|
|
|
-
|
A £0.3bn increase in regulatory capital generated from earnings after absorbing the impact of own credit and dividends paid and foreseen
|
|
|
-
|
A £0.6bn increase in other qualifying reserves including a £0.8bn increase in currency translation reserves due to the appreciation of USD, EUR and ZAR against GBP
|
|
|
-
|
A £0.6bn increase in regulatory adjustments and deductions largely as a result of a £0.5bn increase in the PVA deduction driven by changes in methodology and a £0.2bn increase in the goodwill and intangible asset deduction, which included an acquisition of the JetBlue credit card portfolio within US consumer cards
|
|
|
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 31.03.16
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
|||
|
Barclays UK
|
6,476
|
50,920
|
97
|
-
|
3
|
66
|
-
|
-
|
12,174
|
69,736
|
|||
|
Barclays Corporate & International
|
49,288
|
79,589
|
10,297
|
12,307
|
120
|
4,506
|
8,714
|
9,678
|
27,657
|
202,156
|
|||
|
Head Office1
|
7,533
|
21,401
|
34
|
463
|
3
|
311
|
379
|
2,144
|
8,003
|
40,271
|
|||
|
Barclays Core
|
63,297
|
151,910
|
10,428
|
12,770
|
126
|
4,883
|
9,093
|
11,822
|
47,834
|
312,163
|
|||
|
Barclays Non-Core
|
8,340
|
12,914
|
1,744
|
10,402
|
13
|
4,028
|
950
|
3,659
|
8,826
|
50,876
|
|||
|
Barclays Group
|
71,637
|
164,824
|
12,172
|
23,172
|
139
|
8,911
|
10,043
|
15,481
|
56,660
|
363,039
|
|||
|
As at 31.12.15
|
|||||||||||||
|
Barclays UK
|
6,562
|
50,763
|
26
|
-
|
-
|
-
|
-
|
-
|
12,174
|
69,525
|
|||
|
Barclays Corporate & International
|
45,892
|
77,275
|
10,463
|
11,055
|
516
|
3,406
|
8,373
|
10,196
|
27,657
|
194,833
|
|||
|
Head Office1
|
8,291
|
20,156
|
54
|
538
|
8
|
382
|
399
|
1,903
|
8,003
|
39,734
|
|||
|
Barclays Core
|
60,745
|
148,194
|
10,543
|
11,593
|
524
|
3,788
|
8,772
|
12,099
|
47,834
|
304,092
|
|||
|
Barclays Non-Core
|
8,704
|
12,797
|
1,653
|
9,430
|
1
|
7,480
|
1,714
|
3,679
|
8,826
|
54,284
|
|||
|
Barclays Group
|
69,449
|
160,991
|
12,196
|
21,023
|
525
|
11,268
|
10,486
|
15,778
|
56,660
|
358,376
|
|||
|
Movement analysis of risk weighted assets
|
|||||
|
Credit risk
|
Counterparty credit risk
|
Market risk
|
Operational risk
|
Total RWAs
|
|
|
Risk weighted assets
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
|
As at 31.12.15
|
230.4
|
33.7
|
37.6
|
56.7
|
358.4
|
|
Book size
|
1.0
|
2.0
|
(0.5)
|
-
|
2.5
|
|
Acquisition and disposals
|
(0.1)
|
-
|
-
|
-
|
(0.1)
|
|
Book quality
|
1.0
|
(0.2)
|
-
|
-
|
0.8
|
|
Model updates
|
-
|
(0.1)
|
-
|
-
|
(0.1)
|
|
Methodology and policy
|
(1.0)
|
0.1
|
(2.8)
|
-
|
(3.7)
|
|
Foreign exchange movements2
|
5.1
|
-
|
0.1
|
-
|
5.2
|
|
As at 31.03.16
|
236.4
|
35.5
|
34.4
|
56.7
|
363.0
|
|
1
|
Includes Africa Banking discontinued operation.
|
|
2
|
Foreign exchange movement does not include FX for modelled counterparty risk or modelled market risk.
|
|
·
|
Book size increased RWAs by £2.5bn primarily driven by an increase in derivative exposures in CIB and Non-Core and increased term lending to UK and European corporates
|
|
·
|
Methodology and policy decreased RWAs by £3.7bn driven by the effect of collateral modelling for mismatched FX collateral on average CVA, and updates impacting credit conversion factors and standardised general market risk
|
|
·
|
Foreign exchange movements increased RWAs by £5.2bn due to the appreciation of ZAR and USD against GBP
|
|
-
|
The leverage ratio is consistent with the December 2015 method of calculation and has been included in the table below. The calculation uses the end point definition of Tier 1 capital for the numerator and the definition of leverage exposure. The current expected minimum fully loaded requirement is 3%, although this could be impacted by the Basel Consultation on the Leverage Framework.
|
|
-
|
The average leverage ratio as outlined by the PRA Supervisory Statement SS45/15 and the updated PRA rulebook is calculated as the capital measure divided by the exposure measure, where the capital and exposure measure is based on the average of the last day of each month in the quarter. The expected end point minimum requirement is 3.8% comprising of a 3% minimum requirement, a fully phased in G-SII additional leverage ratio buffer (G-SII ALRB) and a countercyclical leverage ratio buffer (CCLB), which is applicable from 29 March 2017.
|
|
|
As at 31.03.16
|
As at 31.12.15
|
|
Leverage exposure
|
£bn
|
£bn
|
|
Accounting assets
|
|
|
|
Derivative financial instruments
|
401
|
328
|
|
Cash collateral
|
70
|
62
|
|
Reverse repurchase agreements and other similar secured lending
|
20
|
28
|
|
Financial assets designated at fair value1
|
85
|
77
|
|
Loans and advances and other assets
|
673
|
625
|
|
Total IFRS assets
|
1,249
|
1,120
|
|
|
|
|
|
Regulatory consolidation adjustments
|
(10)
|
(10)
|
|
|
|
|
|
Derivatives adjustments
|
||
|
Derivatives netting
|
(365)
|
(293)
|
|
Adjustments to cash collateral
|
(56)
|
(46)
|
|
Net written credit protection
|
16
|
15
|
|
Potential Future Exposure (PFE) on derivatives
|
134
|
129
|
|
Total derivatives adjustments
|
(271)
|
(195)
|
|
Securities financing transactions (SFTs) adjustments
|
18
|
16
|
|
Regulatory deductions and other adjustments
|
(16)
|
(14)
|
|
Weighted off-balance sheet commitments
|
112
|
111
|
|
Total leverage exposure
|
1,082
|
1,028
|
|
|
|
|
|
Fully loaded CET 1 capital
|
40.9
|
40.7
|
|
Fully loaded AT1 capital
|
5.5
|
5.4
|
|
Fully loaded Tier 1 capital
|
46.3
|
46.2
|
|
|
|
|
|
Leverage ratio
|
4.3%
|
4.5%
|
|
1
|
Included within financial assets designated at fair value are reverse repurchase agreements designated at fair value of £61bn (December 2015: £50bn).
|
|
·
|
Loans and advances and other assets increased by £48bn to £673bn. This was primarily due to an increase of £24bn in settlement balances, lending growth of £3bn in Barclays Corporate & International as well as a £4bn increase in Africa Banking reflecting the appreciation of ZAR against GBP
|
|
·
|
Net derivative leverage exposure, excluding PFE, remained flat as an increase in balance sheet assets was offset by an increase in regulatory derivative netting
|
|
·
|
PFE on derivatives increased by £5bn to £134bn primarily as a result of the appreciation of USD and EUR against GBP
|
|
Results timetable1
|
Date
|
|
2016 interim results announcement
|
29 July 2016
|
|
|
% Change3
|
|||||
|
Exchange rates2
|
31.03.16
|
31.12.15
|
31.03.15
|
31.12.15
|
31.03.15
|
|
|
Period end - USD/GBP
|
1.44
|
1.48
|
1.49
|
(3%)
|
(3%)
|
|
|
3 Month average - USD/GBP
|
1.44
|
1.52
|
1.51
|
(5%)
|
(5%)
|
|
|
Period end - EUR/GBP
|
1.26
|
1.36
|
1.38
|
(7%)
|
(9%)
|
|
|
3 Month average - EUR/GBP
|
1.30
|
1.39
|
1.35
|
(6%)
|
(4%)
|
|
|
Period end - ZAR/GBP
|
21.17
|
23.14
|
18.00
|
(9%)
|
18%
|
|
|
3 Month average - ZAR/GBP
|
22.72
|
21.56
|
17.79
|
5%
|
28%
|
|
|
|
|
|||||
|
Share price data
|
31.03.16
|
31.12.15
|
31.03.15
|
|
||
|
Barclays PLC (p)
|
150.00
|
218.90
|
242.60
|
|
||
|
Barclays PLC number of shares (m)
|
16,844
|
16,805
|
16,717
|
|
||
|
Barclays Africa Group Limited (formerly Absa Group Limited) (ZAR)
|
149.59
|
143.49
|
185.00
|
|
||
|
Barclays Africa Group Limited (formerly Absa Group Limited)
number of shares (m)
|
848
|
848
|
848
|
|
||
|
|
|
|||||
|
For further information please contact
|
|
|||||
|
|
|
|||||
|
Investor relations
|
Media relations
|
|
||||
|
Kathryn McLeland +44 (0) 20 7116 4943
|
Thomas Hoskin +44 (0) 20 7116 4755
|
|
||||
|
|
|
|||||
|
More information on Barclays can be found on our website: home.barclays
|
|
|||||
|
|
|
|||||
|
Registered office
|
|
|||||
|
1 Churchill Place, London, E14 5HP, United Kingdom. Tel: +44 (0) 20 7116 1000. Company number: 48839
|
||||||
|
|
|
|||||
|
Registrar
|
|
|||||
|
Equiniti, Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA United Kingdom.
|
||||||
|
Tel: 0371 384 20554 from the UK or +44 (0) 121 415 7004 from overseas.
|
||||||
|
1
|
Note that this announcement date is provisional and subject to change.
|
|
2
|
The average rates shown above are derived from daily spot rates during the year used to convert foreign currency transactions into GBP for accounting purposes.
|
|
3
|
The change is the impact to GBP reported information.
|
|
4
|
Lines open 8.30am to 5.30pm UK time, Monday to Friday, excluding UK public holidays.
|