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BARCLAYS
PLC
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(Registrant)
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By: /s/
Garth Wright
--------------------------------
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Garth
Wright
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Assistant
Secretary
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Results Announcement
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Page
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Notes
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1
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Performance
Highlights
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2-3
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Group
Chief Executive Officer’s Review
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4
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Group
Finance Director’s Review
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5-7
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Results
by Business
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●
Barclays
UK
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8-10
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●
Barclays
International
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11-14
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●
Head
Office
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15
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Quarterly
Results Summary
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16
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Quarterly
Results by Business
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17-22
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Barclays
Non-Core Results
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23
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Discontinued
Operation Results
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24
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Performance Management
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●
Margins
and Balances
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25
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Risk Management
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Risk
Management and Principal Risks
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26
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Credit
Risk
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27-33
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Market
Risk
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34
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●
Treasury and
Capital Risk
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35-46
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Statement
of Directors’ Responsibilities
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47
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Independent
Review Report to Barclays PLC
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48
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Condensed
Consolidated Financial Statements
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49-54
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Financial
Statement Notes
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55-93
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Appendix: Non-IFRS
Performance Measures
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94-102
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Shareholder
Information
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103
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●
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Returns1:
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●
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Barclays
Group return on tangible equity (RoTE) of 11.6%, with double digit
returns in both Barclays UK and Barclays International
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●
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Remain
on track to achieve Barclays Group medium term RoTE targets of
greater than 9% in 2019 and greater than 10% in 2020
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||
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Cost
efficiency1:
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●
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Barclays
Group operating expenses decreased 5% to £6.7bn, driving an
improved cost: income ratio of 61% (H117: 64%)
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●
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Remain
on track for guidance on Barclays Group operating expenses of
£13.6-13.9bn in 2019
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||
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Capital
and dividends:
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●
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Common
equity tier 1 (CET1) ratio was 13.0% (December 2017: 13.3%), at the
end- state target of c.13%, as organic capital generation from
profits was more than offset by a c.60bps impact from litigation
and conduct charges in Q118, and a £6.3bn increase in risk
weighted assets (RWAs)
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●
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Declared
a dividend of 2.5p per share for H118 and reiterate the intention
to pay a dividend of 6.5p per share for 2018, subject to regulatory
approvals
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●
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Barclays Group profit before tax was £1,659m (H117:
£2,341m), which included litigation and conduct charges
of £2.0bn (H117: £0.7bn) principally related to a
£1.4bn settlement with the US Department of Justice (DoJ) with
regard to Residential Mortgage-Backed Securities (RMBS) and charges
of £400m (H117: £700m) due to Payment Protection
Insurance (PPI)
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●
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Excluding litigation and conduct charges, Group profit before tax
increased 20% to £3,701m despite the adverse effect of
the 10% depreciation of average USD against GBP. This increase in
profit before tax was driven by a 46% improvement in credit
impairment charges, primarily reflecting single name recoveries in
wholesale banking, the improved macroeconomic forecasts in the US,
and portfolio adjustments as IFRS 9 continues to embed, and a 5%
reduction in operating expenses, mainly in the Corporate and
Investment Bank (CIB)
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●
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Barclays UK profit before tax increased to £826m (H117:
£634m). Excluding litigation and conduct, RoTE was
17.3% (H117: 20.3%) as profit before tax declined 7% to
£1,240m, reflecting a 2% increase in operating expenses due to
continued investment in digitising the bank, a 1% decrease in
income and a 4% increase in credit impairment charges
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●
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Barclays International profit before tax increased to £2,710m
(H117: £2,617m), driving an RoTE of 12.6% (H117:
12.4%), with double digit returns in both CIB and Consumer, Cards
and Payments. The 4% increase in profit before tax was driven by a
74% decrease in credit impairment charges and a 1% reduction in
operating expenses, while income declined 3%
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●
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Attributable profit was £468m (H117: loss of
£1,211m) and basic earnings per share was 3.3p (H117:
loss per share of 6.6p). Excluding litigation and conduct, earnings
per share was 14.9p (H117: loss per share of 2.4p)
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●
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Tangible net asset value (TNAV) per share was 259p (December 2017:
276p) as the impact of the implementation of IFRS 9, and
litigation and conduct charges in Q118 more than offset profits in
the half year
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1
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Excluding litigation and conduct, with returns targets based on a
Barclays Group CET1 ratio of c.13%.
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Barclays Group
results
for the half year ended
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30.06.18
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30.06.17
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£m
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£m
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% Change
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Total income
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10,934
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10,881
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-
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Credit impairment charges and other provisions
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(571)
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(1,054)
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46
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Net operating
income
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10,363
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9,827
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5
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Operating expenses excluding litigation and conduct
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(6,674)
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(6,989)
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5
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Litigation and conduct1
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(2,042)
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(743)
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Operating expenses
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(8,716)
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(7,732)
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(13)
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Other net income
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12
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246
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(95)
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Profit before tax
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1,659
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2,341
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(29)
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Tax charge
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(737)
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(778)
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5
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Profit after tax in respect of continuing operations
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922
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1,563
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(41)
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Loss after tax in respect of discontinued operation
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-
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(2,195)
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Non-controlling interests in respect of continuing
operations
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(108)
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(138)
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22
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Non-controlling interests in respect of discontinued
operation
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-
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(140)
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Other equity instrument holders2
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(346)
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(301)
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(15)
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Attributable profit/(loss)
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468
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(1,211)
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Performance measures
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Return on average tangible shareholders' equity2
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2.6%
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(4.6%)
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Average tangible shareholders' equity (£bn)
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43.8
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49.4
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Cost: income ratio
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80%
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71%
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Loan loss rate (bps)
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35
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49
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Basic earnings/(loss) per share2
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3.3p
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(6.6p)
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Basic earnings per share in respect of continuing
operations2
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3.3p
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7.1p
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Dividend per share
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2.5p
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1.0p
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Performance measures excluding litigation and
conduct1
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Profit before tax
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3,701
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3,084
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20
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Attributable profit/(loss)
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2,457
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(489)
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Return on average tangible shareholders' equity2
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11.6%
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(1.6%)
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Cost: income ratio
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61%
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64%
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Basic earnings/(loss) per share2
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14.9p
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(2.4p)
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As at
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As at
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As at
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30.06.18
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31.12.17
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30.06.17
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Balance sheet and capital
management3
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£bn
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£bn
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£bn
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Tangible net asset value per share
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259p
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276p
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284p
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Common equity tier 1 ratio4
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13.0%
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13.3%
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13.1%
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Common equity tier 1 capital
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41.4
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41.6
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42.8
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Risk weighted assets
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319.3
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313.0
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327.4
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Average UK leverage ratio
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4.6%
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4.9%
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4.8%
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Average tier 1 capital
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49.7
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51.2
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52.1
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Average UK leverage exposure
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1,082
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1,045
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1,092
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Funding and liquidity
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Group liquidity pool
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214
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220
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201
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CRD IV liquidity coverage ratio
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154%
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154%
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149%
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Loan: deposit ratio
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83%
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81%
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82%
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1
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Refer to pages 94 to 102 for further information and calculations
of performance measures excluding litigation and
conduct.
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2
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The profit after tax attributable to other equity instrument
holders of £346m (H117: £301m) is offset by a tax credit
recorded in reserves of £93m (H117: £82m). The net amount
of £253m (H117: £219m), along with non-controlling
interests, 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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Capital, RWAs and leverage measures are calculated applying the
transitional arrangements of the Capital Requirements Regulation
(CRR). This includes IFRS 9 transitional arrangements. For more
information refer to the Barclays PLC Pillar 3 Report H1 2018, due
to be published by 31 August 2018, located at
home.barclays/results.
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4
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The fully loaded CET1 ratio was 12.6%, with £40.1bn of CET1
capital and £319.2bn of RWAs, calculated without applying the
transitional arrangements of the CRR.
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●
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Profit
before tax was £1,659m (H117: £2,341m). Excluding
litigation and conduct charges, profit before tax increased 20% to
£3,701m driven by a 46% improvement in credit impairment
charges and a 5% reduction in operating expenses. The 10%
depreciation of average USD against GBP adversely impacted profits
and income, and positively impacted credit impairment charges and
operating expenses
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●
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Total
income was broadly in line at £10,934m (H117: £10,881m).
Barclays UK income decreased 1%, while Barclays International
income declined 3% as a 1% increase in CIB income was more than
offset by an 11% reduction in Consumer, Cards and Payments,
primarily as a result of one-off gains in H117 reflecting
management de-risking actions. Head Office income was a net expense
of £205m (H117: income of £2m), and the Group benefited
from the non-recurrence of negative income associated with the
former Non-Core division, which was closed on 1 July
2017
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Credit
impairment charges reduced 46% to £571m driven by Barclays
International, primarily due to single name recoveries in wholesale
banking, improved macroeconomic forecasts in the US, the impact of
repositioning the US cards portfolio towards a lower risk mix,
repayment of certain US card balances following higher than
expected seasonality and portfolio adjustments as IFRS 9 continues
to embed. The Barclays Group loan loss rate was 35bps (H117:
49bps)
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●
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Barclays
adopted IFRS 9, Financial Instruments from 1 January 2018,
requiring the recognition of impairment earlier in the lifecycle of
a product having considered forward-looking information. As
experienced during H118, the impairment measurement and resulting
charge has been more volatile in response to the impacts from an
improved macroeconomic outlook, higher than expected seasonality
and single name recoveries. These impacts are not expected to
repeat in a stable economic and credit environment. In addition,
the H118 impairment charge included a non-recurring reduction from
portfolio adjustments as IFRS 9 continues to be embedded within our
business as usual process and controls including the performance of
impairment models
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●
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Operating
expenses of £8,716m (H117: £7,732m) included litigation
and conduct charges of £2,042m (H117: £743m), excluding
which, operating expenses reduced 5% to £6,674m, driven by a
2% reduction in Barclays International and the non-recurrence of
costs associated with the former Non-Core division. The cost:
income ratio, excluding litigation and conduct, reduced to 61%
(H117: 64%)
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●
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Other
net income declined to £12m (H117: £246m) primarily
reflecting the non-recurrence of gains on the sales of
Barclays’ share in VocaLink and a joint venture in Japan in
H117
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●
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The
effective tax rate increased to 44.4% (H117: 33.2%) mainly due to
higher litigation and conduct costs which are non-deductible for
tax purposes. Excluding litigation and conduct, the underlying
effective tax rate reduced to 21.3% (H117: 25.9%), primarily due to
the reduction in the US federal corporate income tax rate under the
US Tax Cuts and Jobs Act and the beneficial impact of adjustments
to prior periods that have been recognised in H118. The
Group’s underlying effective tax rate for the full year 2018
and future periods is expected to be in the mid-20
percents
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●
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RoTE
was 11.6% (H117: negative 1.6%) and earnings per share was 14.9p
(H117: loss per share of 2.4p), excluding litigation and
conduct
|
●
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TNAV
per share was 259p (December 2017: 276p) as the impact of the
implementation of IFRS 9 and litigation and conduct charges in Q118
more than offset profits in the half year. TNAV per share increased
8p from March 2018, predominantly driven by profits in the
quarter
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●
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Refer
to pages 8 to 15 for further detail on Results by
Business
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●
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Barclays’
CET1 ratio decreased to 13.0% (December 2017: 13.3%) due to an
increase in RWAs of £6.3bn to £319.3bn and a decrease in
CET1 capital of £0.2bn to £41.4bn
|
●
|
The
increase in RWAs reflected an increase in both businesses within
Barclays International and regulatory methodology changes for the
Education, Social Housing and Local Authority (ESHLA) portfolio in
Barclays UK, offset by the net reduction due to Barclays Africa
Group Limited (BAGL) regulatory deconsolidation
|
●
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£0.8bn
of organic capital generation from profits, after absorbing the
impacts of litigation and conduct charges, was offset by
£0.8bn of regulatory deductions for dividends paid and
foreseen
|
●
|
The
average UK leverage ratio decreased to 4.6% (December 2017: 4.9%)
primarily driven by increased exposures due to securities financing
transactions (SFTs) and trading portfolio assets trading activity,
as well as a decrease in average tier 1 capital
|
●
|
The
Barclays Group continued to maintain surpluses to its internal and
regulatory liquidity requirements. The liquidity pool decreased to
£214bn (December 2017: £220bn) driven largely by the
deployment of funding to support business growth. The liquidity
coverage ratio (LCR) remained at 154% (December 2017: 154%),
equivalent to a surplus of £73bn (December 2017: £75bn)
to the 100% requirement
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●
|
Wholesale
funding outstanding (excluding repurchase agreements) was
£149bn (December 2017: £144bn). In H118, Barclays Group
issued £6.2bn of minimum requirement for own funds and
eligible liabilities (MREL) instruments from Barclays PLC (the
Parent company) in a range of different currencies. Barclays Bank
PLC continued to issue in the shorter term markets and Barclays
Bank UK PLC issued in the shorter term and secured markets, helping
to maintain their stable and diversified funding bases. Notable
issuances in H118 included $3bn 3 year senior unsecured notes from
Barclays Bank PLC and a £1.25bn 5 year covered bond from
Barclays Bank UK PLC. Barclays Group has continued to reduce its
reliance on short-term wholesale funding, where the proportion
maturing in less than 1 year fell to 27% (December 2017:
31%)
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●
|
In H118
Barclays reached a settlement with the US DoJ to resolve the civil
complaint brought by the DoJ in December 2016 relating to RMBS sold
by Barclays between 2005 and 2007. Barclays paid a civil monetary
penalty of $2,000m (£1,420m) in H118
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●
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Additional
charges of £400m (H117: £700m) relating to PPI were
recognised in Q118 mainly as a result of continued higher
complaints flow. The remaining PPI provision as at 30 June 2018 was
£1.4bn (December 2017: £1.6bn) to cover claims through to
the deadline of 29 August 2019. Management views its current PPI
provision as appropriate, but will continue to closely monitor
complaint trends and the associated provision adequacy
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●
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On 1
April 2018 Barclays successfully established its ring-fenced bank,
Barclays Bank UK PLC, after receiving approval from the Prudential
Regulation Authority (PRA) and the High Court of Justice of England
and Wales to implement the ring-fencing transfer scheme under Part
VII of the Financial Services Markets Act 2000
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●
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The PRA
agreed to Barclays fully deconsolidating BAGL for regulatory
reporting purposes effective 30 June 2018. Barclays had been
applying proportional consolidation for regulatory purposes since
Q217. Barclays' shareholding in BAGL of 14.9% will now be treated
as a 250% risk weighted asset
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●
|
On 21
May 2018 Barclays announced that the Crown Court had dismissed all
of the charges that had been brought by the Serious Fraud Office
(SFO) against Barclays PLC and Barclays Bank PLC regarding matters
which arose in the context of Barclays’ capital raisings in
2008. On 23 July 2018 the SFO made an application to the High Court
seeking to reinstate against Barclays PLC and Barclays Bank PLC all
of the charges dismissed by the Crown Court. Barclays intends to
defend the application brought by the SFO
|
●
|
Barclays
is confident in the execution of its strategy and remains on track
to achieve its RoTE1 targets of greater
than 9% for 2019 and greater than 10% for 2020 based on a CET1
ratio of c.13%, and operating expenses1 guidance in the
range of £13.6–13.9bn for 2019. The Group’s
H118 results reflect good progress towards these
targets
|
●
|
For
H218, which will be subject to seasonal effects as usual, it is too
early to provide comments on expected performance, although income
in Barclays UK is anticipated to remain steady despite some margin
pressures, while Barclays International income will be influenced
in part by conditions across investment banking markets, where
volatility has been low in July
|
●
|
The
impairment charge for H118 demonstrates the volatility that may
result under IFRS 9 and Barclays currently expects impairment for
H218 to be higher than for H118, subject to changes in actual or
forward-looking macroeconomic conditions or material changes to
individual portfolios or changes from the continuing embedment of
IFRS 9
|
●
|
Operating
expenses1
for 2018 are expected to be in the region of £13.9bn including
bank levy, subject to exchange rates, reflecting continuing
investment in the Group’s
businesses
|
●
|
An
interim dividend of 2.5p per share will be paid on 17 September
2018. Barclays reiterates its intention to pay a 6.5p dividend for
2018, subject to regulatory approvals
|
1
|
Excluding litigation and conduct, with returns targets based on a
Barclays Group CET1 ratio of c.13.0%.
|
Barclays UK
|
Half year ended
|
Half year ended
|
|
30.06.18
|
30.06.17
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
2,986
|
3,045
|
(2)
|
Net fee, commission and other income
|
638
|
616
|
4
|
Total income
|
3,624
|
3,661
|
(1)
|
Credit impairment charges and other provisions
|
(415)
|
(398)
|
(4)
|
Net operating income
|
3,209
|
3,263
|
(2)
|
Operating expenses excluding litigation and conduct
|
(1,973)
|
(1,933)
|
(2)
|
Litigation and conduct1
|
(414)
|
(695)
|
40
|
Operating expenses
|
(2,387)
|
(2,628)
|
9
|
Other net income/(expenses)
|
4
|
(1)
|
|
Profit before tax
|
826
|
634
|
30
|
Attributable profit
|
426
|
185
|
|
|
|
|
|
|
As at 30.06.18
|
As at 31.12.17
|
As at 30.06.17
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
185.3
|
183.8
|
166.6
|
Total assets
|
245.9
|
237.4
|
203.4
|
Customer deposits at amortised cost
|
194.3
|
193.4
|
187.4
|
Loan: deposit ratio
|
96%
|
95%
|
89%
|
Risk weighted assets
|
75.0
|
70.9
|
66.1
|
Period end allocated tangible equity
|
10.2
|
9.6
|
8.6
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
Key facts
|
30.06.18
|
30.06.17
|
|
Average loan to value of mortgage portfolio
|
50%
|
47%
|
|
Average loan to value of new mortgage lending
|
64%
|
62%
|
|
Number of branches
|
1,155
|
1,295
|
|
Mobile banking active customers
|
6.7m
|
6.0m
|
|
30 day arrears rate - Barclaycard Consumer UK
|
1.9%
|
2.0%
|
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
9.0%
|
4.6%
|
|
Average allocated tangible equity (£bn)
|
10.0
|
8.8
|
|
Cost: income ratio
|
66%
|
72%
|
|
Loan loss rate (bps)
|
44
|
47
|
|
Net interest margin
|
3.24%
|
3.69%
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
|
Profit before tax
|
1,240
|
1,329
|
(7)
|
Attributable profit
|
838
|
873
|
(4)
|
Return on average allocated tangible equity
|
17.3%
|
20.3%
|
|
Cost: income ratio
|
54%
|
53%
|
|
1
|
Refer to pages 94 to 102 for further information and calculations
of performance measures excluding litigation and
conduct.
|
Analysis of Barclays UK
|
Half year ended
|
Half year ended
|
|
30.06.18
|
30.06.17
|
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
Personal Banking1
|
1,987
|
2,076
|
(4)
|
Barclaycard Consumer UK
|
1,031
|
993
|
4
|
Business Banking1
|
606
|
592
|
2
|
Total income
|
3,624
|
3,661
|
(1)
|
|
|
|
|
Analysis of credit impairment charges and other
provisions
|
|
|
|
Personal Banking1
|
(121)
|
(108)
|
(12)
|
Barclaycard Consumer UK
|
(252)
|
(272)
|
7
|
Business Banking1
|
(42)
|
(18)
|
|
Total credit impairment charges and other provisions
|
(415)
|
(398)
|
(4)
|
|
|
|
|
|
As at 30.06.18
|
As at 31.12.17
|
As at 30.06.17
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
£bn
|
Personal Banking1
|
143.6
|
141.3
|
138.6
|
Barclaycard Consumer UK
|
15.2
|
16.4
|
16.2
|
Business Banking1
|
26.5
|
26.1
|
11.8
|
Total loans and advances to customers at amortised
cost
|
185.3
|
183.8
|
166.6
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
Personal Banking1
|
152.9
|
153.1
|
151.1
|
Barclaycard Consumer UK
|
-
|
-
|
-
|
Business Banking1
|
41.4
|
40.3
|
36.3
|
Total customer deposits at amortised cost
|
194.3
|
193.4
|
187.4
|
1
|
Wealth has been reclassified from Wealth, Entrepreneurs &
Business Banking (now named Business Banking) to Personal Banking.
Comparatives have been restated.
|
●
|
RoTE
was 9.0% (H117: 4.6%) including PPI charges of £400m (H117:
£700m). Excluding litigation and conduct, RoTE was 17.3%
(H117: 20.3%) as profit before tax decreased 7% to £1,240m,
driven by a 2% increase in operating expenses, a 1% decrease in
total income, and a 4% increase in credit impairment
charges
|
|
●
|
Total
income decreased 1% to £3,624m reflecting the non-recurrence
of a valuation gain on Barclays’ preference shares in Visa
Inc. in H117 and customer remediation provisions in
Q118
|
|
|
–
|
Personal Banking
income decreased 4% to £1,987m driven by the non-recurrence of
the Visa gain in H117, a customer remediation provision and the
realignment of clients from Barclays UK to Barclays International
as part of structural reform
|
|
–
|
Barclaycard
Consumer UK income increased 4% to £1,031m
|
|
–
|
Business Banking
income increased 2% to £606m driven by the realignment of
clients from Barclays International to Barclays UK as part of
structural reform, partially offset by the non-recurrence of the
Visa gain and a customer remediation provision
|
|
–
|
Net
interest margin decreased 45bps to 3.24% reflecting the integration
of the ESHLA portfolio from Non-Core on 1 July 2017 and margin
pressure
|
●
|
Credit
impairment charges increased 4% to £415m including a one-off
charge in Business Banking and increased impairment in Personal
Banking, partially offset by a lower charge in UK cards. The 30 and
90 day arrears rates in UK cards remained broadly flat at 1.9%
(June 2017: 2.0%) and 0.9% (June 2017: 0.9%),
respectively
|
|
●
|
Operating
expenses excluding litigation and conduct increased 2% to
£1,973m as continued investment in digitising the bank and
inflationary pressures were partially offset by lower costs of
setting up the ring-fenced bank and cost efficiencies. The cost:
income ratio excluding litigation and conduct was 54% (H117:
53%)
|
●
|
Loans
and advances to customers at amortised cost increased 1% to
£185.3bn reflecting £2.6bn of mortgage growth, partially
offset by the impact of IFRS 9
|
●
|
Total
assets increased 4% to £245.9bn reflecting increases in the
liquidity pool and loans and advances to customers
|
●
|
Customer
deposits at amortised cost remained broadly flat at £194.3bn
(December 2017: £193.4bn) as deposit growth was partially
offset by the realignment of clients between Barclays UK and
Barclays International as part of structural reform
|
●
|
RWAs
increased to £75.0bn (December 2017: £70.9bn) primarily
due to regulatory methodology changes for the ESHLA portfolio and
growth in the mortgage book
|
Barclays International
|
Half year ended
|
Half year ended
|
|
30.06.18
|
30.06.17
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
1,866
|
2,172
|
(14)
|
Net trading income
|
2,510
|
2,221
|
13
|
Net fee, commission and other income
|
3,139
|
3,355
|
(6)
|
Total income
|
7,515
|
7,748
|
(3)
|
Credit impairment charges and other provisions
|
(161)
|
(625)
|
74
|
Net operating income
|
7,354
|
7,123
|
3
|
Operating expenses excluding litigation and conduct
|
(4,606)
|
(4,711)
|
2
|
Litigation and conduct1
|
(62)
|
(9)
|
|
Operating expenses
|
(4,668)
|
(4,720)
|
1
|
Other net income
|
24
|
214
|
(89)
|
Profit before tax
|
2,710
|
2,617
|
4
|
Attributable profit
|
1,863
|
1,656
|
13
|
|
|
|
|
|
As at 30.06.18
|
As at 31.12.17
|
As at 30.06.17
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
125.5
|
126.8
|
135.2
|
Trading portfolio assets
|
116.5
|
113.0
|
83.3
|
Derivative financial instrument assets
|
228.2
|
236.2
|
108.4
|
Derivative financial instrument liabilities
|
224.9
|
237.8
|
116.8
|
Financial assets at fair value through the income
statement
|
141.2
|
104.1
|
94.1
|
Total assets
|
886.5
|
856.1
|
681.6
|
Deposits at amortised cost
|
191.0
|
187.3
|
192.0
|
Loan: deposit ratio
|
66%
|
68%
|
70%
|
Risk weighted assets
|
218.0
|
210.3
|
212.2
|
Period end allocated tangible equity
|
30.5
|
27.5
|
26.8
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
Performance measures
|
30.06.18
|
30.06.17
|
|
Return on average allocated tangible equity
|
12.6%
|
12.4%
|
|
Average allocated tangible equity (£bn)
|
30.7
|
27.5
|
|
Cost: income ratio
|
62%
|
61%
|
|
Loan loss rate (bps)
|
25
|
61
|
|
Net interest margin
|
4.30%
|
4.06%
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
% Change
|
Profit before tax
|
2,772
|
2,626
|
6
|
Attributable profit
|
1,909
|
1,662
|
15
|
Return on average allocated tangible equity
|
12.9%
|
12.5%
|
|
Cost: income ratio
|
61%
|
61%
|
|
1
|
Refer to pages 94 to 102 for further information and calculations
of performance measures excluding litigation and
conduct.
|
Analysis of Barclays International
|
|
|
|
Corporate and Investment Bank
|
Half year ended
|
Half year ended
|
|
30.06.18
|
30.06.17
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
FICC1
|
1,605
|
1,641
|
(2)
|
Equities
|
1,191
|
917
|
30
|
Markets
|
2,796
|
2,558
|
9
|
Banking fees
|
1,387
|
1,400
|
(1)
|
Corporate lending
|
438
|
547
|
(20)
|
Transaction banking
|
799
|
802
|
-
|
Banking
|
2,624
|
2,749
|
(5)
|
Other
|
(41)
|
39
|
|
Total income
|
5,379
|
5,346
|
1
|
Credit impairment releases/(charges) and other
provisions
|
182
|
(50)
|
|
Net operating income
|
5,561
|
5,296
|
5
|
Operating expenses excluding litigation and conduct
|
(3,546)
|
(3,690)
|
4
|
Litigation and conduct2
|
(13)
|
(7)
|
(86)
|
Operating expenses
|
(3,559)
|
(3,697)
|
4
|
Other net income
|
8
|
116
|
(93)
|
Profit before tax
|
2,010
|
1,715
|
17
|
|
|
|
|
|
As at 30.06.18
|
As at 31.12.17
|
As at 30.06.17
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
87.8
|
88.2
|
96.7
|
Deposits at amortised cost
|
130.3
|
128.0
|
134.1
|
Risk weighted assets
|
180.4
|
176.2
|
178.9
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
Performance measures
|
30.06.18
|
30.06.17
|
|
Return on average allocated tangible equity
|
11.0%
|
9.7%
|
|
Average allocated tangible equity (£bn)
|
26.0
|
23.3
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
% Change
|
Profit before tax
|
2,023
|
1,722
|
17
|
Return on average allocated tangible equity
|
11.1%
|
9.7%
|
|
1
|
Fixed income, currencies and commodities (FICC) is composed of
Credit and Macro income.
|
2
|
Refer to pages 94 to 102 for more information and calculations of
performance measures excluding litigation and conduct.
|
Analysis of Barclays International
|
|
|
|
Consumer, Cards and Payments
|
Half year ended
|
Half year ended
|
|
30.06.18
|
30.06.17
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Total income
|
2,136
|
2,402
|
(11)
|
Credit impairment charges and other provisions
|
(343)
|
(575)
|
40
|
Net operating income
|
1,793
|
1,827
|
(2)
|
Operating expenses excluding litigation and conduct
|
(1,060)
|
(1,021)
|
(4)
|
Litigation and conduct1
|
(49)
|
(2)
|
|
Operating expenses
|
(1,109)
|
(1,023)
|
(8)
|
Other net income
|
16
|
98
|
(84)
|
Profit before tax
|
700
|
902
|
(22)
|
|
|
|
|
|
As at 30.06.18
|
As at 31.12.17
|
As at 30.06.17
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
37.7
|
38.6
|
38.5
|
Deposits at amortised cost
|
60.7
|
59.3
|
57.9
|
Risk weighted assets
|
37.6
|
34.1
|
33.3
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
Key facts
|
30.06.18
|
30.06.17
|
|
30 day arrears rate – Barclaycard US
|
2.5%
|
2.2%
|
|
Total number of Barclaycard business clients
|
370,000
|
364,000
|
|
Value of payments processed (£bn)
|
169
|
157
|
|
|
|
|
|
Performance measures
|
|
|
|
Return on average allocated tangible equity
|
21.2%
|
28.0%
|
|
Average allocated tangible equity (£bn)
|
4.7
|
4.2
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
% Change
|
Profit before tax
|
749
|
904
|
(17)
|
Return on average allocated tangible equity
|
22.7%
|
28.0%
|
|
1
|
Refer to pages 94 to 102 for more information and calculations of
performance measures excluding litigation and conduct.
|
●
|
Profit
before tax increased 4% to £2,710m resulting in a RoTE of
12.6% (H117: 12.4%), reflecting double digit returns in both CIB,
and Consumer, Cards and Payments of 11.0% (H117: 9.7%) and 21.2%
(H117: 28.0%), respectively
|
||
●
|
The 10%
depreciation of average USD against GBP adversely impacted profits
and income, and positively impacted credit impairment charges and
operating expenses
|
||
●
|
Total
income decreased 3% to £7,515m
|
||
|
–
|
CIB
income increased 1% to £5,379m as Markets income increased 9%
to £2,796m, partially offset by a decrease in Banking income
of 5% to £2,624m
|
|
|
|
–
|
FICC
income decreased 2% to £1,605m driven by continued strong
performance in foreign exchange, offset by a decline in credit
income
|
|
|
–
|
Equities
income increased 30% to £1,191m reflecting an improved
performance in derivatives from increased client activity and a
continued strong performance in equity financing
|
|
|
–
|
Banking
fee income decreased 1% to £1,387m following a strong
H117. Global fee share for H118 increased across all products
compared to FY17
|
|
|
–
|
Corporate
lending income declined 20% to £438m driven by lower lending
balances including the ongoing redeployment of RWAs within CIB and
the realignment of clients between Barclays UK and Barclays
International as part of structural reform
|
|
|
–
|
Transaction
banking income was in line at £799m (H117: £802m) as
growth in deposits and transactions was offset by the impact of the
realignment of clients between Barclays UK and Barclays
International as part of structural reform
|
|
–
|
Consumer, Cards and
Payments income decreased 11% to £2,136m driven by the
non-recurrence of a £192m gain relating to an asset sale in US
cards and a £74m valuation gain on Barclays’ preference
shares in Visa Inc. in H117, partially offset by continued
underlying growth in US cards and a £53m gain on sale of a US
cards portfolio in H118
|
|
●
|
Credit
impairment charges decreased 74% to £161m including portfolio
adjustments as IFRS 9 continues to embed
|
||
|
–
|
CIB
credit impairment charges decreased to a release of £182m
(H117: charge of £50m) primarily due to single name recoveries
and updated macroeconomic forecasts
|
|
|
–
|
Consumer, Cards and
Payments credit impairment charges decreased 40% to £343m
reflecting improved macroeconomic forecasts in the US, the impact
of repositioning the US cards portfolio towards a lower risk mix
and repayment of certain US card balances following higher than
expected seasonality
|
|
●
|
Operating
expenses decreased 1% to £4,668m
|
||
|
–
|
CIB
operating expenses decreased 4% to £3,559m driven by the
reduction of restructuring and structural reform costs, and the
reduced impact of the change in compensation awards introduced in
Q416, partially offset by continued investment
|
|
|
–
|
Consumer, Cards and
Payments operating expenses increased 8% to £1,109m. Excluding
litigation and conduct operating expenses increased 4% to
£1,060m including continued growth and investment, primarily
within the US cards and merchant acquiring businesses
|
|
●
|
Other
net income decreased to £24m (H117: £214m) due to the
non-recurrence of a gain of £109m on the sale of
Barclays’ share in VocaLink to MasterCard and a gain of
£76m on the sale of a joint venture in Japan in
H117
|
●
|
Loans
and advances at amortised cost remained broadly flat at
£125.5bn (December 2017: £126.8bn) due to the integration
of treasury balances from Head Office offset by the impact of the
adoption of IFRS 9
|
●
|
Derivative
financial instrument assets and liabilities decreased £8.0bn
to £228.2bn and £12.9bn to £224.9bn respectively,
due to an increase in major interest rate forward curves and the
adoption of daily settlement under the London Clearing House (LCH),
partially offset by increased foreign exchange derivative
volumes
|
●
|
Financial
assets at fair value through the income statement increased
£37.1bn to £141.2bn primarily due to the impact of IFRS 9
and increased reverse repurchase agreements activity
|
●
|
Deposits
at amortised cost increased £3.7bn to £191.0bn, primarily
due to the integration of treasury balances from Head Office and
increased deposits in corporate lending, partially offset by the
impact of IFRS 9
|
●
|
RWAs
increased to £218.0bn (December 2017: £210.3bn) driven by
an increase in both Consumer, Cards and Payments and
CIB
|
Head Office
|
Half year ended
|
Half year ended
|
|
30.06.18
|
30.06.17
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
Net interest income
|
(474)
|
(7)
|
|
Net fee, commission and other income
|
269
|
9
|
|
Total income
|
(205)
|
2
|
|
Credit impairment releases/(charges) and other
provisions
|
5
|
(1)
|
|
Net operating (expenses)/income
|
(200)
|
1
|
|
Operating expenses excluding litigation and conduct
|
(95)
|
(89)
|
(7)
|
Litigation and conduct1
|
(1,566)
|
(11)
|
|
Operating expenses
|
(1,661)
|
(100)
|
|
Other net expenses
|
(16)
|
(164)
|
90
|
Loss before tax
|
(1,877)
|
(263)
|
|
Attributable loss
|
(1,821)
|
(298)
|
|
|
|
|
|
|
As at 30.06.18
|
As at 31.12.17
|
As at 30.06.17
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
Total assets
|
17.2
|
39.7
|
17.3
|
Risk weighted assets
|
26.3
|
31.8
|
26.2
|
Period end allocated tangible equity
|
3.6
|
10.0
|
9.0
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
|
30.06.18
|
30.06.17
|
|
Performance measures
|
£bn
|
£bn
|
|
Average allocated tangible equity
|
3.1
|
8.2
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
% Change
|
Loss before tax
|
(311)
|
(252)
|
(23)
|
Attributable loss
|
(290)
|
(290)
|
-
|
1
|
Refer to pages 94 to 102 for further information and calculations
of performance measures excluding litigation and
conduct.
|
●
|
Loss
before tax was £1,877m (H117: £263m) driven by litigation
and conduct charges of £1,566m (H117: £11m) primarily
related to the £1.4bn settlement with the US DoJ relating to
RMBS
|
●
|
Total
income reduced to an expense of £205m (H117: income of
£2m) reflecting certain legacy capital instrument funding
costs now charged to Head Office of £176m in H118, hedge
accounting and an increased net expense from treasury operations.
This was partially offset by a one-off gain of £155m from the
settlement of receivables relating to the Lehman Brothers
acquisition
|
●
|
Operating
expenses excluding litigation and conduct increased 7% to £95m
due to costs associated with former Non-Core assets and businesses,
which were integrated on 1 July 2017
|
●
|
Other
net expenses were £16m (H117: £164m) due to the
non-recurrence of a £180m expense in H117 on the recycling of
the currency translation reserve to the income statement on the
sale of Barclays Bank Egypt
|
●
|
Total
assets decreased to £17.2bn (December 2017: £39.7bn)
reflecting the transfer of treasury assets to Barclays UK and
Barclays International as part of structural reform
|
●
|
RWAs
decreased to £26.3bn (December 2017: £31.8bn) reflecting
the net reduction due to BAGL regulatory
deconsolidation
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q2171
|
Q1171
|
|
Q4161
|
Q3161
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Net interest income
|
2,190
|
2,188
|
|
2,272
|
2,475
|
2,579
|
2,519
|
|
2,523
|
2,796
|
Net fee, commission and other income
|
3,386
|
3,170
|
|
2,750
|
2,698
|
2,479
|
3,304
|
|
2,469
|
2,650
|
Total income
|
5,576
|
5,358
|
|
5,022
|
5,173
|
5,058
|
5,823
|
|
4,992
|
5,446
|
Credit impairment charges and other provisions
|
(283)
|
(288)
|
|
(573)
|
(709)
|
(527)
|
(527)
|
|
(653)
|
(789)
|
Net operating income
|
5,293
|
5,070
|
|
4,449
|
4,464
|
4,531
|
5,296
|
|
4,339
|
4,657
|
Operating expenses excluding UK bank levy and litigation and
conduct
|
(3,310)
|
(3,364)
|
|
(3,621)
|
(3,274)
|
(3,398)
|
(3,591)
|
|
(3,812)
|
(3,581)
|
UK bank levy
|
-
|
-
|
|
(365)
|
-
|
-
|
-
|
|
(410)
|
-
|
Litigation and conduct2
|
(81)
|
(1,961)
|
|
(383)
|
(81)
|
(715)
|
(28)
|
|
(97)
|
(741)
|
Operating expenses
|
(3,391)
|
(5,325)
|
|
(4,369)
|
(3,355)
|
(4,113)
|
(3,619)
|
|
(4,319)
|
(4,322)
|
Other net (expenses)/income
|
(7)
|
19
|
|
13
|
(2)
|
241
|
5
|
|
310
|
502
|
Profit/(loss) before tax
|
1,895
|
(236)
|
|
93
|
1,107
|
659
|
1,682
|
|
330
|
837
|
Tax (charge)/credit
|
(433)
|
(304)
|
|
(1,138)
|
(324)
|
(305)
|
(473)
|
|
50
|
(328)
|
Profit/(loss) after tax in respect of continuing
operations
|
1,462
|
(540)
|
|
(1,045)
|
783
|
354
|
1,209
|
|
380
|
509
|
(Loss)/profit after tax in respect of discontinued
operation
|
-
|
-
|
|
-
|
-
|
(1,537)
|
(658)
|
|
71
|
209
|
|
|
|
|
|
|
|
|
|
|
|
Attributable to:
|
|
|
|
|
|
|
|
|
|
|
Ordinary equity holders of the parent
|
1,232
|
(764)
|
|
(1,294)
|
583
|
(1,401)
|
190
|
|
99
|
414
|
Other equity instrument holders
|
175
|
171
|
|
181
|
157
|
162
|
139
|
|
139
|
110
|
Non-controlling interests in respect of continuing
operations
|
55
|
53
|
|
68
|
43
|
59
|
79
|
|
90
|
70
|
Non-controlling interests in respect of discontinued
operation
|
-
|
-
|
|
-
|
-
|
(3)
|
143
|
|
123
|
124
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Total assets
|
1,149.6
|
1,142.2
|
|
1,133.2
|
1,149.3
|
1,135.3
|
1,203.8
|
|
1,213.1
|
1,324.0
|
Tangible net asset value per share
|
259p
|
251p
|
|
276p
|
281p
|
284p
|
292p
|
|
290p
|
287p
|
Risk weighted assets
|
319.3
|
317.9
|
|
313.0
|
324.3
|
327.4
|
360.9
|
|
365.6
|
373.4
|
Average UK leverage exposure
|
1,081.8
|
1,089.9
|
|
1,044.6
|
1,035.1
|
1,092.2
|
1,130.4
|
|
1,137.3
|
n/a
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
11.8%
|
(6.5%)
|
|
(10.3%)
|
5.1%
|
(11.0%)
|
1.8%
|
|
1.1%
|
3.6%
|
Average tangible shareholders' equity
|
43.5
|
44.2
|
|
48.1
|
48.9
|
49.3
|
49.4
|
|
48.9
|
49.4
|
Cost: income ratio
|
61%
|
99%
|
|
87%
|
65%
|
81%
|
62%
|
|
87%
|
79%
|
Loan loss rate (bps)
|
35
|
36
|
|
56
|
66
|
49
|
47
|
|
58
|
66
|
Basic earnings/(loss) per share
|
7.5p
|
(4.2p)
|
|
(7.3p)
|
3.7p
|
(8.0p)
|
1.3p
|
|
0.8p
|
2.6p
|
Basic earnings/(loss) per share in respect of continuing
operations
|
7.5p
|
(4.2p)
|
|
(7.3p)
|
3.7p
|
1.0p
|
6.1p
|
|
1.1p
|
2.1p
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Profit before tax
|
1,976
|
1,725
|
|
476
|
1,188
|
1,374
|
1,710
|
|
427
|
1,578
|
Attributable profit/(loss)
|
1,291
|
1,166
|
|
(943)
|
660
|
(698)
|
209
|
|
151
|
1,140
|
Return on average tangible shareholders' equity
|
12.3%
|
11.0%
|
|
(7.4%)
|
5.7%
|
(5.3%)
|
2.0%
|
|
1.6%
|
9.5%
|
Cost: income ratio
|
59%
|
63%
|
|
79%
|
63%
|
67%
|
62%
|
|
85%
|
66%
|
Basic earnings/(loss) per share
|
7.8p
|
7.1p
|
|
(5.3p)
|
4.1p
|
(3.8p)
|
1.5p
|
|
1.1p
|
6.9p
|
1
|
Results included Barclays Non-Core and the Africa Banking
discontinued operation; refer to pages 23 to 24 for further
detail.
|
2
|
Refer to pages 94 to 102 for further information and calculations
of performance measures excluding litigation and
conduct.
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Q416
|
Q316
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Net interest income
|
1,493
|
1,493
|
|
1,540
|
1,501
|
1,534
|
1,511
|
|
1,502
|
1,569
|
Net fee, commission and other income
|
343
|
295
|
|
330
|
351
|
286
|
330
|
|
326
|
374
|
Total income
|
1,836
|
1,788
|
|
1,870
|
1,852
|
1,820
|
1,841
|
|
1,828
|
1,943
|
Credit impairment charges and other provisions
|
(214)
|
(201)
|
|
(184)
|
(201)
|
(220)
|
(178)
|
|
(180)
|
(350)
|
Net operating income
|
1,622
|
1,587
|
|
1,686
|
1,651
|
1,600
|
1,663
|
|
1,648
|
1,593
|
Operating expenses excluding UK bank levy and litigation and
conduct
|
(968)
|
(1,005)
|
|
(1,117)
|
(980)
|
(974)
|
(959)
|
|
(989)
|
(904)
|
UK bank levy
|
-
|
-
|
|
(59)
|
-
|
-
|
-
|
|
(48)
|
-
|
Litigation and conduct1
|
(3)
|
(411)
|
|
(53)
|
(11)
|
(699)
|
4
|
|
(28)
|
(614)
|
Operating expenses
|
(971)
|
(1,416)
|
|
(1,229)
|
(991)
|
(1,673)
|
(955)
|
|
(1,065)
|
(1,518)
|
Other net income/(expenses)
|
5
|
(1)
|
|
(5)
|
1
|
(1)
|
-
|
|
-
|
-
|
Profit/(loss) before tax
|
656
|
170
|
|
452
|
661
|
(74)
|
708
|
|
583
|
75
|
Attributable profit/(loss)
|
464
|
(38)
|
|
245
|
423
|
(285)
|
470
|
|
383
|
(163)
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Loans and advances to customers at amortised cost
|
185.3
|
184.3
|
|
183.8
|
182.2
|
166.6
|
164.5
|
|
166.4
|
166.6
|
Total assets
|
245.9
|
235.2
|
|
237.4
|
230.4
|
203.4
|
203.0
|
|
209.6
|
209.1
|
Customer deposits at amortised cost
|
194.3
|
192.0
|
|
193.4
|
189.3
|
187.4
|
184.4
|
|
189.0
|
185.5
|
Loan: deposit ratio
|
96%
|
96%
|
|
95%
|
97%
|
89%
|
90%
|
|
89%
|
91%
|
Risk weighted assets
|
75.0
|
72.5
|
|
70.9
|
70.0
|
66.1
|
66.3
|
|
67.5
|
67.4
|
Period end allocated tangible equity
|
10.2
|
9.8
|
|
9.6
|
9.5
|
8.6
|
8.8
|
|
8.5
|
8.5
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
18.8%
|
(1.1%)
|
|
10.7%
|
18.4%
|
(12.7%)
|
21.6%
|
|
18.2%
|
(7.1%)
|
Average allocated tangible equity
|
10.1
|
9.8
|
|
9.6
|
9.4
|
8.7
|
8.9
|
|
8.6
|
8.7
|
Cost: income ratio
|
53%
|
79%
|
|
66%
|
54%
|
92%
|
52%
|
|
58%
|
78%
|
Loan loss rate (bps)
|
45
|
43
|
|
39
|
43
|
52
|
43
|
|
42
|
82
|
Net interest margin
|
3.22%
|
3.27%
|
|
3.32%
|
3.28%
|
3.70%
|
3.69%
|
|
3.56%
|
3.72%
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Profit before tax
|
659
|
581
|
|
505
|
672
|
625
|
704
|
|
611
|
689
|
Attributable profit
|
465
|
373
|
|
282
|
431
|
406
|
467
|
|
380
|
464
|
Return on average allocated tangible equity
|
18.8%
|
15.7%
|
|
12.3%
|
18.7%
|
19.1%
|
21.5%
|
|
18.0%
|
21.6%
|
Cost: income ratio
|
53%
|
56%
|
|
63%
|
53%
|
54%
|
52%
|
|
57%
|
47%
|
1
|
Refer to pages 94 to 102 for further information and calculations
of performance measures excluding litigation and
conduct.
|
Analysis of Barclays UK
|
|
|
|
|
|
|
|
|
|
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Q416
|
Q316
|
|
Analysis of total income
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Personal Banking1
|
1,015
|
972
|
|
1,116
|
1,022
|
1,033
|
1,043
|
|
1,045
|
1,084
|
Barclaycard Consumer UK
|
504
|
527
|
|
445
|
539
|
495
|
498
|
|
507
|
561
|
Business Banking1
|
317
|
289
|
|
309
|
291
|
292
|
300
|
|
276
|
298
|
Total income
|
1,836
|
1,788
|
|
1,870
|
1,852
|
1,820
|
1,841
|
|
1,828
|
1,943
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of credit impairment (charges)/releases and other
provisions
|
|
|
|
|
|
|
|
|
|
|
Personal Banking1
|
(49)
|
(72)
|
|
(56)
|
(57)
|
(60)
|
(48)
|
|
(54)
|
(57)
|
Barclaycard Consumer UK
|
(139)
|
(113)
|
|
(124)
|
(145)
|
(149)
|
(123)
|
|
(118)
|
(291)
|
Business Banking1
|
(26)
|
(16)
|
|
(4)
|
1
|
(11)
|
(7)
|
|
(8)
|
(2)
|
Total credit impairment charges and other provisions
|
(214)
|
(201)
|
|
(184)
|
(201)
|
(220)
|
(178)
|
|
(180)
|
(350)
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Personal Banking1
|
143.6
|
142.1
|
|
141.3
|
140.4
|
138.6
|
136.6
|
|
138.5
|
139.0
|
Barclaycard Consumer UK
|
15.2
|
15.2
|
|
16.4
|
16.3
|
16.2
|
16.1
|
|
16.5
|
16.2
|
Business Banking1
|
26.5
|
27.0
|
|
26.1
|
25.5
|
11.8
|
11.8
|
|
11.4
|
11.4
|
Total loans and advances to customers at amortised
cost
|
185.3
|
184.3
|
|
183.8
|
182.2
|
166.6
|
164.5
|
|
166.4
|
166.6
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
|
|
|
|
|
|
|
Personal Banking1
|
152.9
|
151.9
|
|
153.1
|
152.1
|
151.1
|
149.2
|
|
156.3
|
154.0
|
Barclaycard Consumer UK
|
-
|
-
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
Business Banking1
|
41.4
|
40.1
|
|
40.3
|
37.2
|
36.3
|
35.2
|
|
32.7
|
31.5
|
Total customer deposits at amortised cost
|
194.3
|
192.0
|
|
193.4
|
189.3
|
187.4
|
184.4
|
|
189.0
|
185.5
|
1
|
Wealth has been reclassified from Wealth, Entrepreneurs &
Business Banking (now named Business Banking) to Personal Banking.
Comparatives have been restated to reflect this.
|
Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Q416
|
Q316
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Net interest income
|
853
|
1,013
|
|
987
|
1,148
|
1,060
|
1,112
|
|
1,046
|
1,355
|
Net trading income
|
1,094
|
1,416
|
|
935
|
815
|
1,039
|
1,182
|
|
1,131
|
1,074
|
Net fee, commission and other income
|
1,760
|
1,379
|
|
1,397
|
1,352
|
1,511
|
1,844
|
|
1,415
|
1,422
|
Total income
|
3,707
|
3,808
|
|
3,319
|
3,315
|
3,610
|
4,138
|
|
3,592
|
3,851
|
Credit impairment charges and other provisions
|
(68)
|
(93)
|
|
(386)
|
(495)
|
(279)
|
(346)
|
|
(426)
|
(420)
|
Net operating income
|
3,639
|
3,715
|
|
2,933
|
2,820
|
3,331
|
3,792
|
|
3,166
|
3,431
|
Operating expenses excluding UK bank levy and litigation and
conduct
|
(2,306)
|
(2,300)
|
|
(2,428)
|
(2,182)
|
(2,276)
|
(2,435)
|
|
(2,497)
|
(2,337)
|
UK bank levy
|
-
|
-
|
|
(265)
|
-
|
-
|
-
|
|
(284)
|
-
|
Litigation and conduct1
|
(47)
|
(15)
|
|
(255)
|
(5)
|
4
|
(13)
|
|
(17)
|
(17)
|
Operating expenses
|
(2,353)
|
(2,315)
|
|
(2,948)
|
(2,187)
|
(2,272)
|
(2,448)
|
|
(2,798)
|
(2,354)
|
Other net income
|
11
|
13
|
|
21
|
19
|
202
|
12
|
|
5
|
8
|
Profit before tax
|
1,297
|
1,413
|
|
6
|
652
|
1,261
|
1,356
|
|
373
|
1,085
|
Attributable profit/(loss)
|
890
|
973
|
|
(1,168)
|
359
|
819
|
837
|
|
43
|
623
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
125.5
|
117.5
|
|
126.8
|
134.4
|
135.2
|
145.5
|
|
153.7
|
152.7
|
Trading portfolio assets
|
116.5
|
114.9
|
|
113.0
|
91.2
|
83.3
|
83.0
|
|
73.2
|
73.8
|
Derivative financial instrument assets
|
228.2
|
214.1
|
|
236.2
|
242.8
|
108.4
|
105.3
|
|
156.2
|
155.6
|
Derivative financial instrument liabilities
|
224.9
|
210.8
|
|
237.8
|
242.9
|
116.8
|
112.8
|
|
160.6
|
160.5
|
Financial assets at fair value through the income
statement
|
141.2
|
150.6
|
|
104.1
|
103.7
|
94.1
|
81.3
|
|
62.3
|
72.0
|
Total assets
|
886.5
|
866.6
|
|
856.1
|
867.1
|
681.6
|
677.2
|
|
648.5
|
681.9
|
Deposits at amortised cost
|
191.0
|
167.2
|
|
187.3
|
191.9
|
192.0
|
189.4
|
|
184.7
|
175.7
|
Loan: deposit ratio
|
66%
|
70%
|
|
68%
|
70%
|
70%
|
77%
|
|
83%
|
87%
|
Risk weighted assets
|
218.0
|
214.2
|
|
210.3
|
218.2
|
212.2
|
214.3
|
|
212.7
|
214.6
|
Period end allocated tangible equity
|
30.5
|
30.0
|
|
27.5
|
28.0
|
26.8
|
27.1
|
|
25.6
|
25.9
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
11.8%
|
13.4%
|
|
(15.9%)
|
5.4%
|
12.4%
|
12.5%
|
|
1.0%
|
10.0%
|
Average allocated tangible equity (£bn)
|
31.4
|
30.1
|
|
28.5
|
28.9
|
27.4
|
27.7
|
|
26.6
|
25.7
|
Cost: income ratio
|
63%
|
61%
|
|
89%
|
66%
|
63%
|
59%
|
|
78%
|
61%
|
Loan loss rate (bps)
|
22
|
31
|
|
76
|
88
|
54
|
62
|
|
78
|
71
|
Net interest margin
|
4.03%
|
4.57%
|
|
4.31%
|
4.21%
|
4.07%
|
4.06%
|
|
3.91%
|
4.21%
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Profit before tax
|
1,344
|
1,428
|
|
261
|
657
|
1,257
|
1,369
|
|
390
|
1,102
|
Attributable profit/(loss)
|
924
|
985
|
|
(918)
|
363
|
816
|
846
|
|
57
|
640
|
Return on average allocated tangible equity
|
12.2%
|
13.6%
|
|
(12.4%)
|
5.5%
|
12.3%
|
12.6%
|
|
1.2%
|
10.3%
|
Cost: income ratio
|
62%
|
60%
|
|
81%
|
66%
|
63%
|
59%
|
|
77%
|
61%
|
1
|
Refer to pages 94 to 102 for further information and calculations
of performance measures excluding litigation and
conduct.
|
Analysis of Barclays International
|
|
|
|
Corporate and Investment Bank
|
|
|
|
|
|
|
|
|
|
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Q416
|
Q316
|
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
FICC
|
736
|
869
|
|
607
|
627
|
752
|
889
|
|
766
|
947
|
Equities
|
601
|
590
|
|
362
|
350
|
455
|
462
|
|
410
|
461
|
Markets
|
1,337
|
1,459
|
|
969
|
977
|
1,207
|
1,351
|
|
1,176
|
1,408
|
Banking fees
|
704
|
683
|
|
605
|
607
|
674
|
726
|
|
650
|
644
|
Corporate lending
|
198
|
240
|
|
269
|
277
|
278
|
269
|
|
303
|
284
|
Transaction banking
|
385
|
414
|
|
408
|
419
|
404
|
398
|
|
401
|
458
|
Banking
|
1,287
|
1,337
|
|
1,282
|
1,303
|
1,356
|
1,393
|
|
1,354
|
1,386
|
Other
|
(44)
|
3
|
|
1
|
-
|
1
|
38
|
|
1
|
1
|
Total income
|
2,580
|
2,799
|
|
2,252
|
2,280
|
2,564
|
2,782
|
|
2,531
|
2,795
|
Credit impairment releases/(charges) and other
provisions
|
23
|
159
|
|
(127)
|
(36)
|
1
|
(51)
|
|
(90)
|
(38)
|
Net operating income
|
2,603
|
2,958
|
|
2,125
|
2,244
|
2,565
|
2,731
|
|
2,441
|
2,757
|
Operating expenses excluding litigation and conduct
|
(1,773)
|
(1,773)
|
|
(2,129)
|
(1,656)
|
(1,760)
|
(1,930)
|
|
(2,272)
|
(1,855)
|
Litigation and conduct1
|
-
|
(13)
|
|
(255)
|
(5)
|
4
|
(11)
|
|
(15)
|
(17)
|
Operating expenses
|
(1,773)
|
(1,786)
|
|
(2,384)
|
(1,661)
|
(1,756)
|
(1,941)
|
|
(2,287)
|
(1,872)
|
Other net income
|
5
|
3
|
|
7
|
10
|
116
|
-
|
|
1
|
-
|
Profit/(loss) before tax
|
835
|
1,175
|
|
(252)
|
593
|
925
|
790
|
|
155
|
885
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
87.8
|
81.3
|
|
88.2
|
95.4
|
96.7
|
106.8
|
|
114.0
|
115.9
|
Deposits at amortised cost
|
130.3
|
107.6
|
|
128.0
|
133.4
|
134.1
|
131.0
|
|
134.0
|
126.7
|
Risk weighted assets
|
180.4
|
181.3
|
|
176.2
|
185.2
|
178.9
|
180.6
|
|
178.6
|
182.5
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
9.1%
|
13.0%
|
|
(20.2%)
|
5.9%
|
11.1%
|
8.2%
|
|
(1.2%)
|
9.2%
|
Average allocated tangible equity
|
26.4
|
25.6
|
|
24.3
|
24.8
|
23.3
|
23.5
|
|
22.6
|
21.9
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Profit before tax
|
835
|
1,188
|
|
3
|
598
|
921
|
801
|
|
170
|
902
|
Return on average allocated tangible equity
|
9.1%
|
13.2%
|
|
(16.1%)
|
6.0%
|
11.1%
|
8.3%
|
|
(0.9%)
|
9.5%
|
1
|
Refer to pages 94 to 102 for further information and calculations
of performance measures excluding litigation and
conduct.
|
Analysis of Barclays International
|
|
|
|
Consumer, Cards and Payments
|
|
|
|
|
|
|
|
|
|
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Q416
|
Q316
|
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Total income
|
1,127
|
1,009
|
|
1,067
|
1,035
|
1,046
|
1,356
|
|
1,061
|
1,056
|
Credit impairment charges and other provisions
|
(91)
|
(252)
|
|
(259)
|
(459)
|
(280)
|
(295)
|
|
(336)
|
(382)
|
Net operating income
|
1,036
|
757
|
|
808
|
576
|
766
|
1,061
|
|
725
|
674
|
Operating expenses excluding litigation and conduct
|
(533)
|
(527)
|
|
(564)
|
(526)
|
(516)
|
(505)
|
|
(509)
|
(482)
|
Litigation and conduct1
|
(47)
|
(2)
|
|
-
|
-
|
-
|
(2)
|
|
(2)
|
-
|
Operating expenses
|
(580)
|
(529)
|
|
(564)
|
(526)
|
(516)
|
(507)
|
|
(511)
|
(482)
|
Other net income
|
6
|
10
|
|
14
|
9
|
86
|
12
|
|
4
|
8
|
Profit before tax
|
462
|
238
|
|
258
|
59
|
336
|
566
|
|
218
|
200
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Loans and advances at amortised cost
|
37.7
|
36.2
|
|
38.6
|
39.0
|
38.5
|
38.7
|
|
39.7
|
36.8
|
Deposits at amortised cost
|
60.7
|
59.6
|
|
59.3
|
58.5
|
57.9
|
58.4
|
|
50.7
|
49.0
|
Risk weighted assets
|
37.6
|
32.9
|
|
34.1
|
33.0
|
33.3
|
33.7
|
|
34.1
|
32.1
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
26.2%
|
15.6%
|
|
8.9%
|
2.2%
|
19.4%
|
36.4%
|
|
13.2%
|
14.8%
|
Average allocated tangible equity
|
5.0
|
4.5
|
|
4.2
|
4.2
|
4.1
|
4.2
|
|
4.0
|
3.7
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Profit before tax
|
509
|
240
|
|
258
|
59
|
336
|
568
|
|
220
|
200
|
Return on average allocated tangible equity
|
28.9%
|
15.7%
|
|
9.0%
|
2.2%
|
19.4%
|
36.5%
|
|
13.3%
|
14.8%
|
1
|
Refer to pages 94 to 102 for further information and calculations
of performance measures excluding litigation and
conduct.
|
Head Office
|
|
|
|
|
|
|
|
|
|
|
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Q416
|
Q316
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Net interest income
|
(156)
|
(318)
|
|
(254)
|
(174)
|
108
|
(115)
|
|
29
|
(206)
|
Net fee, commission and other income1
|
189
|
80
|
|
87
|
180
|
(24)
|
33
|
|
(38)
|
17
|
Total income
|
33
|
(238)
|
|
(167)
|
6
|
84
|
(82)
|
|
(9)
|
(189)
|
Credit impairment (charges)/releases and other
provisions
|
(1)
|
6
|
|
(3)
|
(13)
|
(1)
|
-
|
|
-
|
1
|
Net operating income/(expenses)
|
32
|
(232)
|
|
(170)
|
(7)
|
83
|
(82)
|
|
(9)
|
(188)
|
Operating expenses excluding UK bank levy and litigation and
conduct
|
(36)
|
(59)
|
|
(76)
|
(112)
|
(40)
|
(49)
|
|
15
|
(29)
|
UK bank levy
|
-
|
-
|
|
(41)
|
-
|
-
|
-
|
|
(2)
|
-
|
Litigation and conduct2
|
(31)
|
(1,535)
|
|
(75)
|
(65)
|
(1)
|
(10)
|
|
(1)
|
(8)
|
Operating expenses
|
(67)
|
(1,594)
|
|
(192)
|
(177)
|
(41)
|
(59)
|
|
12
|
(37)
|
Other net (expenses)/income
|
(23)
|
7
|
|
(3)
|
(22)
|
(164)
|
-
|
|
159
|
(4)
|
(Loss)/profit before tax
|
(58)
|
(1,819)
|
|
(365)
|
(206)
|
(122)
|
(141)
|
|
162
|
(229)
|
Attributable (loss)/profit
|
(122)
|
(1,699)
|
|
(371)
|
(199)
|
(175)
|
(123)
|
|
223
|
(203)
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Total assets
|
17.2
|
40.4
|
|
39.7
|
51.7
|
17.3
|
74.5
|
|
75.2
|
73.3
|
Risk weighted assets
|
26.3
|
31.2
|
|
31.8
|
36.1
|
26.2
|
52.9
|
|
53.3
|
47.5
|
Period end allocated tangible equity
|
3.6
|
3.0
|
|
10.0
|
10.4
|
9.0
|
8.8
|
|
9.7
|
6.9
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Average allocated tangible equity
|
2.0
|
4.3
|
|
10.0
|
10.5
|
8.8
|
7.6
|
|
7.2
|
7.4
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
(Loss)/profit before tax
|
(27)
|
(284)
|
|
(290)
|
(141)
|
(121)
|
(131)
|
|
163
|
(221)
|
Attributable (loss)/profit
|
(98)
|
(192)
|
|
(307)
|
(134)
|
(174)
|
(116)
|
|
224
|
(195)
|
1
|
Following the early adoption of the own credit provisions of IFRS
9, Financial Instruments on 1 January 2017, own credit, which was
previously reported in net fee, commission and other income, is
recognised within other comprehensive income from
Q117.
|
2
|
Refer to pages 94 to 102 for further information and calculations
of performance measures excluding litigation and
conduct.
|
Barclays Non-Core
|
Half year ended
|
Half year ended
|
30.06.18
|
30.06.17
|
|
Income statement information
|
£m
|
£m
|
Net interest income
|
-
|
(112)
|
Net trading income
|
-
|
(488)
|
Net fee, commission and other income
|
-
|
70
|
Total income
|
-
|
(530)
|
Credit impairment charges and other provisions
|
-
|
(30)
|
Net operating expenses
|
-
|
(560)
|
Operating expenses excluding litigation and conduct
|
-
|
(256)
|
Litigation and conduct
|
-
|
(28)
|
Operating expenses
|
-
|
(284)
|
Other net income
|
-
|
197
|
Loss before tax
|
-
|
(647)
|
Attributable loss
|
-
|
(419)
|
Income statement information
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Q416
|
Q316
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
|
Net interest income
|
-
|
-
|
|
-
|
-
|
(123)
|
11
|
|
(54)
|
78
|
Net trading income
|
-
|
-
|
|
-
|
-
|
(411)
|
(77)
|
|
(462)
|
(288)
|
Net fee, commission and other income
|
-
|
-
|
|
-
|
-
|
78
|
(8)
|
|
97
|
51
|
Total income
|
-
|
-
|
|
-
|
-
|
(456)
|
(74)
|
|
(419)
|
(159)
|
Credit impairment charges and other provisions
|
-
|
-
|
|
-
|
-
|
(27)
|
(3)
|
|
(47)
|
(20)
|
Net operating expenses
|
-
|
-
|
|
-
|
-
|
(483)
|
(77)
|
|
(466)
|
(179)
|
Operating expenses excluding UK bank levy and litigation and
conduct
|
-
|
-
|
|
-
|
-
|
(108)
|
(148)
|
|
(341)
|
(311)
|
UK bank levy
|
-
|
-
|
|
-
|
-
|
-
|
-
|
|
(76)
|
-
|
Litigation and conduct
|
-
|
-
|
|
-
|
-
|
(19)
|
(9)
|
|
(51)
|
(102)
|
Operating expenses
|
-
|
-
|
|
-
|
-
|
(127)
|
(157)
|
|
(468)
|
(413)
|
Other net income/(expenses)
|
-
|
-
|
|
-
|
-
|
204
|
(7)
|
|
146
|
498
|
Loss before tax
|
-
|
-
|
|
-
|
-
|
(406)
|
(241)
|
|
(788)
|
(94)
|
Tax credit
|
-
|
-
|
|
-
|
-
|
207
|
75
|
|
322
|
194
|
(Loss)/profit after tax
|
-
|
-
|
|
-
|
-
|
(199)
|
(166)
|
|
(466)
|
100
|
Non-controlling interests
|
-
|
-
|
|
-
|
-
|
(8)
|
(9)
|
|
(14)
|
(13)
|
Other equity instrument holders
|
-
|
-
|
|
-
|
-
|
(19)
|
(18)
|
|
(18)
|
(15)
|
Attributable (loss)/profit
|
-
|
-
|
|
-
|
-
|
(226)
|
(193)
|
|
(498)
|
72
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Loans and advances to banks and customers at amortised
cost
|
-
|
-
|
|
-
|
-
|
48.3
|
49.5
|
|
51.1
|
58.7
|
Derivative financial instrument assets
|
-
|
-
|
|
-
|
-
|
150.3
|
164.2
|
|
188.7
|
253.2
|
Derivative financial instrument liabilities
|
-
|
-
|
|
-
|
-
|
143.0
|
155.3
|
|
178.6
|
243.0
|
Reverse repurchase agreements and other similar secured
lending
|
-
|
-
|
|
-
|
-
|
-
|
-
|
|
0.1
|
0.1
|
Financial assets designated at fair value
|
-
|
-
|
|
-
|
-
|
12.1
|
13.4
|
|
14.5
|
15.5
|
Total assets
|
-
|
-
|
|
-
|
-
|
233.0
|
249.1
|
|
279.7
|
359.8
|
Customer deposits
|
-
|
-
|
|
-
|
-
|
11.8
|
12.9
|
|
12.5
|
16.0
|
Risk weighted assets
|
-
|
-
|
|
-
|
-
|
22.8
|
27.4
|
|
32.1
|
43.9
|
Africa Banking
|
Half year ended
|
Half year ended
|
30.06.18
|
30.06.171
|
|
Income statement information
|
£m
|
£m
|
Net interest income`
|
-
|
1,024
|
Net fee, commission and other income
|
-
|
762
|
Total income
|
-
|
1,786
|
Credit impairment charges and other provisions
|
-
|
(177)
|
Net operating income
|
-
|
1,609
|
Operating expenses excluding impairment of Barclays' holding in
BAGL
|
-
|
(1,130)
|
Other net income excluding loss on sale of BAGL
|
-
|
5
|
Profit before tax excluding impairment of Barclays' holding in BAGL
and loss on sale of BAGL
|
-
|
484
|
Impairment of Barclays' holding in BAGL
|
-
|
(1,090)
|
Loss on sale of BAGL
|
-
|
(1,435)
|
Loss before tax
|
-
|
(2,041)
|
Tax charge
|
-
|
(154)
|
Loss after tax
|
-
|
(2,195)
|
Attributable loss
|
-
|
(2,335)
|
1
|
The H117 Africa Banking income statement represents five months of
results as a discontinued operation to 31 May 2017.
|
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q2171
|
Q117
|
|
Q416
|
Q316
|
Income statement information
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Net interest income
|
-
|
-
|
|
-
|
-
|
407
|
617
|
|
626
|
561
|
Net fee, commission and other income
|
-
|
-
|
|
-
|
-
|
297
|
465
|
|
441
|
421
|
Total income
|
-
|
-
|
|
-
|
-
|
704
|
1,082
|
|
1,067
|
982
|
Credit impairment charges and other provisions
|
-
|
-
|
|
-
|
-
|
(71)
|
(106)
|
|
(105)
|
(96)
|
Net operating income
|
-
|
-
|
|
-
|
-
|
633
|
976
|
|
962
|
886
|
Operating expenses excluding UK bank levy and impairment of
Barclays' holding in BAGL
|
-
|
-
|
|
-
|
-
|
(477)
|
(653)
|
|
(727)
|
(598)
|
UK bank levy
|
-
|
-
|
|
-
|
-
|
-
|
-
|
|
(65)
|
-
|
Other net income excluding loss on sale of BAGL
|
-
|
-
|
|
-
|
-
|
3
|
2
|
|
2
|
2
|
Profit before tax excluding impairment of Barclays' holding in BAGL
and loss on sale of BAGL
|
-
|
-
|
|
-
|
-
|
159
|
325
|
|
172
|
290
|
Impairment of Barclays' holding in BAGL
|
-
|
-
|
|
-
|
-
|
(206)
|
(884)
|
|
-
|
-
|
Loss on sale of BAGL
|
-
|
-
|
|
-
|
-
|
(1,435)
|
-
|
|
-
|
-
|
(Loss)/profit before tax
|
-
|
-
|
|
-
|
-
|
(1,482)
|
(559)
|
|
172
|
290
|
(Loss)/profit after tax
|
-
|
-
|
|
-
|
-
|
(1,537)
|
(658)
|
|
71
|
209
|
Attributable (loss)/profit
|
-
|
-
|
|
-
|
-
|
(1,534)
|
(801)
|
|
(52)
|
85
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Total assets
|
-
|
-
|
|
-
|
-
|
-
|
66.0
|
|
65.1
|
61.1
|
Risk weighted assets
|
-
|
-
|
|
-
|
-
|
9.8
|
41.3
|
|
42.3
|
39.9
|
1
|
The Q217 Africa Banking income statement represents two months of
results as a discontinued operation to 31 May 2017.
|
Margins and balances
|
|
|
|
|
|
|
|
Half year ended 30.06.18
|
Half year ended 30.06.17
|
||||
|
Net interest income
|
Average customer assets
|
Net interest margin
|
Net interest income
|
Average customer assets
|
Net interest margin
|
|
£m
|
£m
|
%
|
£m
|
£m
|
%
|
Barclays UK
|
2,986
|
185,666
|
3.24
|
3,045
|
166,200
|
3.69
|
Barclays International1
|
2,027
|
95,170
|
4.30
|
2,185
|
108,486
|
4.06
|
Total Barclays UK and Barclays International
|
5,013
|
280,836
|
3.60
|
5,230
|
274,686
|
3.84
|
Other2
|
(635)
|
|
|
(132)
|
|
|
Total Barclays Group
|
4,378
|
|
|
5,098
|
|
|
1
|
Barclays International margins include interest earning lending
balances within the investment banking business.
|
2
|
Other includes Head Office and non-lending related investment
banking balances. Barclays Non-Core is included in the comparative
period.
|
Quarterly analysis for Barclays UK and Barclays
International
|
Net interest income
|
Average customer assets
|
Net interest margin
|
Three months ended 30.06.18
|
£m
|
£m
|
%
|
Barclays UK
|
1,493
|
186,053
|
3.22
|
Barclays International1
|
962
|
95,728
|
4.03
|
Total Barclays UK and Barclays International
|
2,455
|
281,781
|
3.49
|
|
|
|
|
Three months ended 31.03.18
|
|
|
|
Barclays UK
|
1,493
|
185,351
|
3.27
|
Barclays International1
|
1,065
|
94,530
|
4.57
|
Total Barclays UK and Barclays International
|
2,558
|
279,881
|
3.71
|
|
|
|
|
Three months ended 31.12.17
|
|
|
|
Barclays UK
|
1,540
|
184,058
|
3.32
|
Barclays International1
|
1,071
|
98,500
|
4.31
|
Total Barclays UK and Barclays International
|
2,611
|
282,558
|
3.67
|
|
|
|
|
Three months ended 30.09.17
|
|
|
|
Barclays UK
|
1,501
|
181,419
|
3.28
|
Barclays International1
|
1,070
|
100,828
|
4.21
|
Total Barclays UK and Barclays International
|
2,571
|
282,247
|
3.61
|
|
|
|
|
Three months ended 30.06.17
|
|
|
|
Barclays UK
|
1,534
|
166,345
|
3.70
|
Barclays International1
|
1,064
|
104,899
|
4.07
|
Total Barclays UK and Barclays International
|
2,598
|
271,244
|
3.84
|
1
|
Barclays International margins include interest earning lending
balances within the investment banking business.
|
|
Gross exposure
|
|
Impairment allowance
|
Net exposure
£m
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
As at 30.06.18
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Barclays UK
|
132,186
|
25,841
|
3,070
|
161,097
|
|
148
|
1,393
|
1,206
|
2,747
|
158,350
|
Barclays International
|
21,838
|
7,145
|
1,709
|
30,692
|
|
253
|
1,176
|
1,219
|
2,648
|
28,044
|
Head Office
|
6,774
|
734
|
944
|
8,452
|
|
11
|
56
|
299
|
366
|
8,086
|
Total Barclays Group retail
|
160,798
|
33,720
|
5,723
|
200,241
|
|
412
|
2,625
|
2,724
|
5,761
|
194,480
|
Barclays UK
|
23,759
|
3,861
|
1,215
|
28,835
|
|
21
|
66
|
143
|
230
|
28,605
|
Barclays International
|
87,161
|
9,703
|
1,468
|
98,332
|
|
122
|
262
|
495
|
879
|
97,453
|
Head Office
|
436
|
-
|
46
|
482
|
|
13
|
-
|
40
|
53
|
429
|
Total Barclays Group wholesale
|
111,356
|
13,564
|
2,729
|
127,649
|
|
156
|
328
|
678
|
1,162
|
126,487
|
Total loans and advances at amortised cost
|
272,154
|
47,284
|
8,452
|
327,890
|
|
568
|
2,953
|
3,402
|
6,923
|
320,967
|
Off-balance sheet loan commitments and financial guarantee
contracts
|
-
|
-
|
-
|
332,539
|
|
-
|
-
|
-
|
289
|
|
Total1
|
|
|
|
660,429
|
|
|
|
|
7,212
|
|
|
||||||||||
|
As at 30.06.18
|
|
Half year ended 30.06.18
|
|
||||||
|
Coverage ratio
|
|
Loan impairment charge and loan loss rate
|
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Loan impairment charge
|
Loan loss rate2
|
|
||
|
%
|
%
|
%
|
%
|
|
£m
|
bps
|
|
||
Barclays UK
|
0.1
|
5.4
|
39.3
|
1.7
|
|
360
|
45
|
|
||
Barclays International
|
1.2
|
16.5
|
71.3
|
8.6
|
|
339
|
223
|
|
||
Head Office
|
0.2
|
7.6
|
31.7
|
4.3
|
|
9
|
21
|
|
||
Total Barclays Group retail
|
0.3
|
7.8
|
47.6
|
2.9
|
|
708
|
71
|
|
||
Barclays UK
|
0.1
|
1.7
|
11.8
|
0.8
|
|
55
|
38
|
|
||
Barclays International
|
0.1
|
2.7
|
33.7
|
0.9
|
|
(177)
|
(36)
|
|
||
Head Office
|
3.0
|
-
|
87.0
|
11.0
|
|
(16)
|
(669)
|
|
||
Total Barclays Group wholesale
|
0.1
|
2.4
|
24.8
|
0.9
|
|
(138)
|
(22)
|
|
||
Total loans and advances at amortised cost
|
0.2
|
6.2
|
40.3
|
2.1
|
|
570
|
35
|
|
||
Other financial assets subject to impairment
|
|
|
|
|
|
|
1
|
|
|
|
Total
|
|
|
|
|
|
|
571
|
|
|
|
1
|
Other financial assets subject to impairment not included in the
table above, include cash collateral and settlement balances,
financial assets at fair value through other comprehensive income,
accrued income and sundry debtors. These have a total gross
exposure of £155.1bn (1 January 2018: £128.1bn) and
impairment allowance of £9m (1 January 2018:
£9m).
|
2
|
H118 loan impairment charge represents six months of impairment
charge, annualised to calculate the loan loss rate.
|
|
Gross exposure
|
|
Impairment allowance
|
Net exposure
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
As at 01.01.18
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Barclays UK
|
129,837
|
25,798
|
3,152
|
158,787
|
|
142
|
1,310
|
1,142
|
2,594
|
156,193
|
Barclays International
|
22,427
|
7,051
|
1,466
|
30,944
|
|
292
|
1,298
|
1,080
|
2,670
|
28,274
|
Head Office
|
6,498
|
1,596
|
952
|
9,046
|
|
8
|
62
|
294
|
364
|
8,682
|
Total Barclays Group retail
|
158,762
|
34,445
|
5,570
|
198,777
|
|
442
|
2,670
|
2,516
|
5,628
|
193,149
|
Barclays UK
|
22,835
|
3,880
|
1,092
|
27,807
|
|
25
|
88
|
114
|
227
|
27,580
|
Barclays International
|
75,331
|
11,128
|
2,345
|
88,804
|
|
139
|
349
|
694
|
1,182
|
87,622
|
Head Office
|
8,689
|
139
|
74
|
8,902
|
|
2
|
5
|
58
|
65
|
8,837
|
Total Barclays Group wholesale
|
106,855
|
15,147
|
3,511
|
125,513
|
|
166
|
442
|
866
|
1,474
|
124,039
|
Total loans and advances at amortised cost
|
265,617
|
49,592
|
9,081
|
324,290
|
|
608
|
3,112
|
3,382
|
7,102
|
317,188
|
Off-balance sheet loan commitments and financial guarantee
contracts
|
-
|
-
|
-
|
334,573
|
|
-
|
-
|
-
|
420
|
|
Total
|
|
|
|
658,863
|
|
|
|
|
7,522
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Coverage ratio
|
|
|
|
|
|
|
|||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
|
|
|
|
|
As at 01.01.18
|
%
|
%
|
%
|
%
|
|
|
|
|
|
|
Barclays UK
|
0.1
|
5.1
|
36.2
|
1.6
|
|
|
|
|
|
|
Barclays International
|
1.3
|
18.4
|
73.7
|
8.6
|
|
|
|
|
|
|
Head Office
|
0.1
|
3.9
|
30.9
|
4.0
|
|
|
|
|
|
|
Total Barclays Group retail
|
0.3
|
7.8
|
45.2
|
2.8
|
|
|
|
|
|
|
Barclays UK
|
0.1
|
2.3
|
10.4
|
0.8
|
|
|
|
|
|
|
Barclays International
|
0.2
|
3.1
|
29.6
|
1.3
|
|
|
|
|
|
|
Head Office
|
-
|
3.6
|
78.4
|
0.7
|
|
|
|
|
|
|
Total Barclays Group wholesale
|
0.2
|
2.9
|
24.7
|
1.2
|
|
|
|
|
|
|
Total loans and advances at amortised cost
|
0.2
|
6.3
|
37.2
|
2.2
|
|
|
|
|
|
|
|
|
Stage 2
|
|
|
|||
As at 30.06.18
|
Stage 1
|
Not past due
|
<=30 days past due
|
>30 days past due
|
Total
|
Stage 3
|
Total
|
Gross exposure
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Home loans
|
127,940
|
15,793
|
1,920
|
907
|
18,620
|
2,521
|
149,081
|
Credit cards, unsecured loans and other retail lending
|
39,933
|
13,976
|
718
|
582
|
15,276
|
3,671
|
58,880
|
Corporate loans
|
104,281
|
12,398
|
406
|
584
|
13,388
|
2,260
|
119,929
|
Total
|
272,154
|
42,167
|
3,044
|
2,073
|
47,284
|
8,452
|
327,890
|
|
|
|
|
|
|
|
|
Impairment Allowance
|
|
|
|
|
|
|
|
Home loans
|
44
|
77
|
16
|
13
|
106
|
334
|
484
|
Credit cards, unsecured loans and other retail lending
|
408
|
2,069
|
197
|
243
|
2,509
|
2,462
|
5,379
|
Corporate loans
|
116
|
313
|
11
|
14
|
338
|
606
|
1,060
|
Total
|
568
|
2,459
|
224
|
270
|
2,953
|
3,402
|
6,923
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Home loans
|
127,896
|
15,716
|
1,904
|
894
|
18,514
|
2,187
|
148,597
|
Credit cards, unsecured loans and other retail lending
|
39,525
|
11,907
|
521
|
339
|
12,767
|
1,209
|
53,501
|
Corporate loans
|
104,165
|
12,085
|
395
|
570
|
13,050
|
1,654
|
118,869
|
Total
|
271,586
|
39,708
|
2,820
|
1,803
|
44,331
|
5,050
|
320,967
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Home loans
|
-
|
0.5
|
0.8
|
1.4
|
0.6
|
13.2
|
0.3
|
Credit cards, unsecured loans and other retail lending
|
1.0
|
14.8
|
27.4
|
41.8
|
16.4
|
67.1
|
9.1
|
Corporate loans
|
0.1
|
2.5
|
2.7
|
2.4
|
2.5
|
26.8
|
0.9
|
Total
|
0.2
|
5.8
|
7.4
|
13.0
|
6.2
|
40.3
|
2.1
|
|
|
|
|
|
|
|
|
As at 01.01.18
|
|
|
|
|
|
|
|
Gross exposure
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Home loans
|
125,224
|
17,108
|
1,612
|
604
|
19,324
|
2,425
|
146,973
|
Credit cards, unsecured loans and other retail lending
|
40,482
|
13,562
|
702
|
502
|
14,766
|
3,544
|
58,792
|
Corporate loans
|
99,911
|
14,534
|
407
|
561
|
15,502
|
3,112
|
118,525
|
Total
|
265,617
|
45,204
|
2,721
|
1,667
|
49,592
|
9,081
|
324,290
|
|
|
|
|
|
|
|
|
Impairment Allowance
|
|
|
|
|
|
|
|
Home loans
|
38
|
77
|
10
|
13
|
100
|
326
|
464
|
Credit cards, unsecured loans and other retail lending
|
441
|
2,086
|
203
|
245
|
2,534
|
2,291
|
5,266
|
Corporate loans
|
129
|
444
|
22
|
12
|
478
|
765
|
1,372
|
Total
|
608
|
2,607
|
235
|
270
|
3,112
|
3,382
|
7,102
|
|
|
|
|
|
|
|
|
Net exposure
|
|
|
|
|
|
|
|
Home loans
|
125,186
|
17,031
|
1,602
|
591
|
19,224
|
2,099
|
146,509
|
Credit cards, unsecured loans and other retail lending
|
40,041
|
11,476
|
499
|
257
|
12,232
|
1,253
|
53,526
|
Corporate loans
|
99,782
|
14,090
|
385
|
549
|
15,024
|
2,347
|
117,153
|
Total
|
265,009
|
42,597
|
2,486
|
1,397
|
46,480
|
5,699
|
317,188
|
|
|
|
|
|
|
|
|
Coverage ratio
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
Home loans
|
-
|
0.5
|
0.6
|
2.2
|
0.5
|
13.4
|
0.3
|
Credit cards, unsecured loans and other retail lending
|
1.1
|
15.4
|
28.9
|
48.8
|
17.2
|
64.6
|
9.0
|
Corporate loans
|
0.1
|
3.1
|
5.4
|
2.1
|
3.1
|
24.6
|
1.2
|
Total
|
0.2
|
5.8
|
8.6
|
16.2
|
6.3
|
37.2
|
2.2
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Impairment allowance
|
Impairment allowance
|
Impairment allowance
|
Impairment allowance
|
|
£m
|
£m
|
£m
|
£m
|
Opening balance as at 01.01.18
|
741
|
3,371
|
3,410
|
7,522
|
Movement in impairment
|
|
|
|
676
|
New
financial assets originated or purchased
|
202
|
82
|
69
|
353
|
Changes to impairment allowance including
transfers between stages and repayments1
|
(263)
|
(352)
|
938
|
323
|
Assets derecognised due to write-offs
|
-
|
-
|
(986)
|
(986)
|
Closing balance as at 30.06.18
|
680
|
3,101
|
3,431
|
7,212
|
|
|
|
|
|
Reconciliation of movement to impairment charge/(release) for the
period
|
|
|
|
|
Movement excluding assets derecognised due to
write-offs
|
|
|
676
|
|
Recoveries post write-offs
|
|
|
(68)
|
|
Exchange and other adjustments2
|
|
|
(37)
|
|
Impairment charge for the period
|
|
|
571
|
1
|
Change to impairment allowance includes the impacts of transfers
between stages, changes made to parameters (such as probability of
default, exposure at default and loss given default), changes in
macroeconomic variables, drawdowns, repayments and other
movements.
|
2
|
Includes movement in impairment allowance on other assets, cash
collateral and settlement balances.
|
Baseline economic
variables1
|
|
|
|
|
Average
|
Minimum
|
Maximum
|
As at 30.06.18
|
%
|
%
|
%
|
UK GDP
|
1.8
|
1.5
|
1.9
|
UK unemployment
|
4.7
|
4.6
|
4.8
|
UK HPI
|
2.6
|
1.4
|
3.2
|
US GDP
|
2.0
|
2.0
|
2.2
|
US unemployment
|
4.2
|
4.1
|
4.2
|
US HPI
|
4.3
|
4.1
|
5.1
|
|
|
|
|
As at 01.01.18
|
|
|
|
UK GDP
|
1.8
|
1.5
|
2.0
|
UK unemployment
|
4.6
|
4.6
|
4.6
|
UK HPI
|
2.8
|
2.0
|
3.2
|
US GDP
|
2.1
|
2.0
|
2.2
|
US unemployment
|
4.1
|
4.1
|
4.2
|
US HPI
|
3.4
|
3.2
|
4.1
|
1
|
GDP and HPI are annualised growth rates. Unemployment rate is a
simple average.
|
Home loans principal portfolios
|
Barclays UK
|
|
|
As at
30.06.18
|
As at
31.12.171
|
Gross loans and advances (£m)
|
134,431
|
132,132
|
90 day arrears rate excluding recovery book (%)
|
0.1
|
0.1
|
Annualised gross charge-off rate (%)
|
0.2
|
0.2
|
Recovery book proportion of outstanding balances (%)
|
0.2
|
0.3
|
Recovery book impairment coverage ratio (%)
|
3.6
|
11.2
|
|
|
|
Average marked to market LTV
|
|
|
Balance weighted (%)
|
49.6
|
47.6
|
Valuation weighted (%)
|
36.6
|
35.2
|
|
|
|
For >100% LTVs
|
|
|
Balances (£m)
|
261
|
215
|
Marked to market collateral (£m)
|
231
|
188
|
Average LTV: balance weighted (%)
|
127.3
|
127.7
|
Average LTV: valuation weighted (%)
|
116.8
|
118.6
|
Balances in recovery book (%)
|
4.9
|
5.9
|
|
|
|
New lending
|
Half year ended 30.06.18
|
Half year ended 30.06.17
|
New home loan bookings (£m)
|
11,295
|
10,025
|
New home loans proportion > 85% LTV (%)
|
8.9
|
4.7
|
Average LTV on new home loans: balance weighted (%)
|
64.4
|
62.4
|
Average LTV on new home loans: valuation weighted (%)
|
56.3
|
54.6
|
1
|
The comparative information as at December 2017 has been presented
on an IAS 39 basis and has not been restated as permitted under
IFRS 9.
|
Home loans principal portfolios –
distribution of balances by LTV
|
As at 30.06.18
|
||
Distribution of balances
|
Distribution of impairment
allowance
|
Coverage ratio
|
|
Barclays UK
|
%
|
%
|
%
|
<=75%
|
87.8
|
55.9
|
0.0
|
>75% and <=90%
|
10.8
|
23.2
|
0.1
|
>90% and <=100%
|
1.2
|
6.1
|
0.3
|
>100%
|
0.2
|
14.8
|
3.8
|
●
|
Portfolio
credit performance remained strong reflecting the continuing low
base rate environment and stable economic conditions. Average LTVs
whilst remaining low, increased on last year as 8 out of 12 UK
regions experienced house price decreases during H118
|
●
|
Home
loans with LTV >100% increased 21% to £261m due to a
decrease in house prices
|
●
|
Owner-occupied
interest-only home loans comprised 27% (December 2017: 28%) of
total balances. The average balance weighted LTV on these loans
increased to 40.6% (December 2017: 39.7%) primarily driven by
decreases in the House Price Index (HPI) across Greater London and
the South East. The 90 day arrears rate for this portfolio segment,
excluding the recovery book, remained broadly stable at 0.2%
(December 2017: 0.3%)
|
●
|
Buy-to-let
(BTL) home loans comprised 12% (December 2017: 11%) of total
balances. The average balance weighted LTV increased to 56.6%
(December 2017: 53.7%) driven by decreases in the HPI across
Greater London and the South East, combined with higher LTVs at
origination for BTL loans relative to the attrition on the
portfolio. The BTL 90 day arrears rate excluding recovery book
remained steady at 0.1% (December 2017: 0.1%)
|
●
|
New
lending increased to £11.3bn (H117: £10.0bn). An increase
in >85% LTV on new lending was driven by market activity and was
in line with the risk appetite of the business
|
Principal portfolios
|
Gross exposure
|
30 day arrears
rate,
excluding
recovery book
|
90 day arrears
rate,
excluding
recovery book
|
Annualised gross
charge-off rate
|
As at 30.06.18
|
£m
|
%
|
%
|
%
|
Barclays UK
|
|
|
|
|
UK cards
|
17,143
|
1.9
|
0.9
|
4.6
|
UK personal loans
|
6,372
|
2.8
|
1.6
|
2.7
|
Barclays International
|
|
|
|
|
US cards
|
20,288
|
2.5
|
1.3
|
5.8
|
Barclays Partner Finance
|
3,245
|
1.2
|
0.5
|
2.4
|
Germany consumer lending
|
3,385
|
2.1
|
0.9
|
3.1
|
|
|
|
|
|
As at 31.12.171
|
|
|
|
|
Barclays UK
|
|
|
|
|
UK cards
|
17,686
|
1.8
|
0.8
|
5.0
|
UK personal loans
|
6,255
|
2.5
|
1.2
|
3.3
|
Barclays International
|
|
|
|
|
US cards
|
21,350
|
2.6
|
1.3
|
5.0
|
Barclays Partner Finance
|
3,814
|
1.3
|
0.5
|
2.6
|
Germany consumer lending
|
3,384
|
2.3
|
1.0
|
3.2
|
1
|
The comparative information as at December 2017 has been presented
on an IAS 39 basis and has not been restated as permitted under
IFRS 9.
|
Management VaR (95%) by asset
class1
|
|
|
|
|
|
|
|
|
|||
|
Half year ended 30.06.18
|
|
Half year ended 31.12.17
|
|
Half year ended 30.06.17
|
||||||
|
Average
|
High2
|
Low2
|
|
Average
|
High2
|
Low2
|
|
Average
|
High2
|
Low2
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Credit risk
|
11
|
16
|
8
|
|
10
|
17
|
8
|
|
13
|
18
|
10
|
Interest rate risk
|
9
|
19
|
4
|
|
8
|
15
|
5
|
|
7
|
15
|
4
|
Equity risk
|
7
|
12
|
4
|
|
8
|
12
|
4
|
|
8
|
14
|
4
|
Basis risk
|
5
|
8
|
4
|
|
5
|
6
|
3
|
|
5
|
6
|
4
|
Spread risk
|
5
|
9
|
3
|
|
5
|
8
|
3
|
|
4
|
6
|
3
|
Foreign exchange risk
|
3
|
7
|
2
|
|
4
|
7
|
2
|
|
3
|
5
|
2
|
Commodity risk
|
1
|
2
|
-
|
|
2
|
3
|
1
|
|
2
|
3
|
1
|
Inflation risk
|
3
|
4
|
2
|
|
2
|
3
|
2
|
|
2
|
4
|
1
|
Diversification effect
|
(24)
|
n/a
|
n/a
|
|
(26)
|
n/a
|
n/a
|
|
(24)
|
n/a
|
n/a
|
Total management VaR
|
20
|
26
|
15
|
|
18
|
24
|
14
|
|
20
|
26
|
17
|
1
|
Includes BAGL.
|
2
|
The high and low VaR figures reported for each category did not
necessarily occur on the same day as the high and low VaR reported
as a whole. Consequently, a diversification effect balance for the
high and low VaR figures would not be meaningful and is therefore
omitted from the above table.
|
Compliance with internal and regulatory stress tests
|
Barclays' short-term LRA (30 day
combined stress requirement)1
|
CRD IV LCR
|
|
£bn
|
£bn
|
Eligible liquidity buffer
|
214
|
208
|
Net stress outflows
|
174
|
135
|
Surplus
|
40
|
73
|
|
|
|
Liquidity pool as a percentage of anticipated net outflows as at 30
June 2018
|
123%
|
154%
|
Liquidity pool as a percentage of anticipated net outflows as at 31
December 2017
|
126%
|
154%
|
1
|
Of the three stress scenarios monitored as part of the short-term
LRA, the 30 day combined stress scenario results in the lowest
ratio at 123% (December 2017: 126%). This compares to 157%
(December 2017: 139%) under the 90 day market-wide scenario and
131% (December 2017: 131%) under the 30 day Barclays specific
scenario.
|
Composition of the Group liquidity pool
|
||||||
|
|
As at 30.06.18
|
As at 31.12.17
|
|||
|
|
Liquidity pool
|
Liquidity pool of which interim
CRD IV LCR-eligible
|
Liquidity pool
|
||
|
|
Cash
|
Level 1
|
Level 2A
|
||
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Cash and deposits with central
banks1
|
|
162
|
157
|
-
|
-
|
173
|
|
|
|
|
|
|
|
Government bonds2
|
|
|
|
|
|
|
AAA to A-
|
|
36
|
-
|
34
|
-
|
31
|
BBB+ to BBB-
|
|
1
|
-
|
1
|
-
|
2
|
Other LCR ineligible government bonds
|
|
1
|
-
|
|
-
|
1
|
Total government bonds
|
|
38
|
-
|
35
|
-
|
34
|
|
|
|
|
|
|
|
Other
|
|
|
|
|
|
|
Government guaranteed issuers, PSEs and GSEs
|
|
6
|
-
|
5
|
1
|
6
|
International organisations and MDBs
|
|
4
|
-
|
4
|
-
|
4
|
Covered bonds
|
|
3
|
-
|
3
|
-
|
2
|
Other
|
|
1
|
-
|
-
|
-
|
1
|
Total other
|
|
14
|
157
|
12
|
1
|
13
|
|
|
|
|
|
|
|
Total as at 30 June 2018
|
|
214
|
157
|
47
|
1
|
|
Total as at 31 December 2017
|
|
220
|
169
|
43
|
2
|
|
1
|
Of which over 99% (December 2017: over 99%) was placed with the
Bank of England, US Federal Reserve, European Central Bank, Bank of
Japan and Swiss National Bank.
|
2
|
Of which over 76% (December 2017: over 84%) are comprised of UK,
US, Japanese, French, German, Danish, Swiss and Dutch
securities.
|
Deposit funding
|
As at 30.06.18
|
|
As at 31.12.17
|
||
Loans and advances at amortised cost
|
Deposits at amortised cost
|
Loan: deposit ratio1
|
|
Loan: deposit ratio1
|
|
Funding of loans and advances
|
£bn
|
£bn
|
%
|
|
%
|
Barclays UK
|
187
|
194
|
96%
|
|
95%
|
Barclays International
|
125
|
191
|
66%
|
|
68%
|
Head Office
|
9
|
1
|
|
|
|
Barclays Group
|
321
|
386
|
83%
|
|
81%
|
1
|
The loan: deposit ratio is calculated as loans and advances at
amortised cost divided by deposits at amortised cost. Comparatives
have been restated based on this approach.
|
|
|
|
|
|
|
|
Assets
|
As at 30.06.18
£bn
|
As at
31.12.172
£bn
|
|
Liabilities
|
As at 30.06.18
£bn
|
As at
31.12.172
£bn
|
Loans and advances at amortised cost
|
321
|
324
|
|
Deposits at amortised cost
|
386
|
399
|
Group liquidity pool
|
214
|
220
|
|
<1 year wholesale funding
|
40
|
45
|
Other assets1
|
58
|
47
|
|
>1 year wholesale funding
|
109
|
99
|
Reverse repurchase agreements, trading portfolio assets, cash
collateral and settlement balances1
|
329
|
304
|
|
Repurchase agreements, trading portfolio liabilities, cash
collateral and settlement balances1
|
290
|
273
|
|
|
|
|
Equity and other liabilities
|
100
|
79
|
Derivative financial instruments
|
228
|
238
|
|
Derivative financial instruments
|
225
|
238
|
Total assets
|
1,150
|
1,133
|
|
Total liabilities
|
1,150
|
1,133
|
1
|
Includes repurchase and reverse repurchase agreements reported on
an amortised cost and a fair value basis.
|
2
|
December 2017 comparatives have been updated to reflect
classification changes to balance sheet presentation.
|
Maturity profile of wholesale
funding2
|
|
|
|
|
|
|
|
||||
|
<1
|
1-3
|
3-6
|
6-12
|
<1
|
1-2
|
2-3
|
3-4
|
4-5
|
>5
|
|
|
month
|
months
|
months
|
months
|
year
|
years
|
years
|
years
|
years
|
years
|
Total
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Barclays PLC (the Parent company)
|
|
|
|
|
|
|
|
|
|
|
|
Senior unsecured (public benchmark)
|
-
|
0.1
|
-
|
-
|
0.1
|
2.3
|
2.8
|
2.7
|
2.4
|
16.8
|
27.1
|
Senior unsecured (privately placed)
|
-
|
0.1
|
-
|
-
|
0.1
|
-
|
0.1
|
0.1
|
-
|
0.5
|
0.8
|
Subordinated liabilities
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
6.6
|
6.6
|
Barclays Bank PLC (including
|
|
|
|
|
|
|
|
|
|
|
|
subsidiaries)
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit and
commercial paper
|
0.9
|
8.9
|
3.2
|
8.5
|
21.5
|
1.1
|
0.8
|
0.5
|
0.3
|
-
|
24.2
|
Asset backed commercial paper
|
2.6
|
3.0
|
0.8
|
-
|
6.4
|
-
|
-
|
-
|
-
|
-
|
6.4
|
Senior unsecured (public benchmark)
|
-
|
-
|
-
|
1.5
|
1.5
|
1.8
|
2.8
|
0.1
|
-
|
0.8
|
7.0
|
Senior unsecured (privately placed)3
|
0.5
|
0.8
|
1.2
|
5.8
|
8.3
|
8.3
|
6.7
|
1.8
|
4.1
|
16.9
|
46.1
|
Covered bonds
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
0.2
|
0.2
|
Asset backed securities
|
-
|
-
|
0.4
|
0.3
|
0.7
|
2.0
|
-
|
-
|
0.6
|
1.6
|
4.9
|
Subordinated liabilities
|
-
|
-
|
-
|
-
|
-
|
-
|
5.6
|
1.3
|
2.2
|
4.4
|
13.5
|
Other
|
0.1
|
-
|
-
|
-
|
0.1
|
-
|
0.1
|
-
|
-
|
1.2
|
1.4
|
Barclays Bank UK PLC (including
|
|
|
|
|
|
|
|
|
|
|
|
subsidiaries)
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit and
commercial paper
|
0.4
|
0.5
|
-
|
0.2
|
1.1
|
-
|
-
|
-
|
-
|
-
|
1.1
|
Covered bonds
|
-
|
-
|
-
|
-
|
-
|
2.8
|
1.0
|
2.3
|
1.3
|
1.0
|
8.4
|
Asset backed securities
|
-
|
-
|
-
|
-
|
-
|
0.8
|
-
|
-
|
-
|
-
|
0.8
|
Total as at 30 June 2018
|
4.5
|
13.4
|
5.6
|
16.3
|
39.8
|
19.1
|
19.9
|
8.8
|
10.9
|
50.0
|
148.5
|
Of which secured
|
2.6
|
3.0
|
1.2
|
0.3
|
7.1
|
5.6
|
1.0
|
2.3
|
1.9
|
2.8
|
20.7
|
Of which unsecured
|
1.9
|
10.4
|
4.4
|
16.0
|
32.7
|
13.5
|
18.9
|
6.5
|
9.0
|
47.2
|
127.8
|
|
|
|
|
|
|
|
|
|
|
|
|
Total as at 31 December 2017
|
7.2
|
14.9
|
12.5
|
10.3
|
44.9
|
18.7
|
12.0
|
13.6
|
13.5
|
41.0
|
143.7
|
Of which secured
|
1.9
|
5.1
|
1.0
|
0.2
|
8.2
|
3.5
|
2.0
|
1.0
|
2.5
|
3.1
|
20.3
|
Of which unsecured
|
5.3
|
9.8
|
11.5
|
10.1
|
36.7
|
15.2
|
10.0
|
12.6
|
11.0
|
37.9
|
123.4
|
1
|
The composition of wholesale funds comprises of the balance sheet
reported financial liabilities at fair value, debt securities in
issue and subordinated liabilities. It does not include
participation in the central bank facilities reported within
repurchase agreements and other similar secured
borrowing.
|
2
|
Term funding comprises of public benchmark and privately placed
senior unsecured notes, covered bonds, asset backed securities
(ABS) and subordinated debt where the original maturity of the
instrument is more than 1 year.
|
3
|
Includes structured notes of £35.5bn, of which £5.4bn
matures within one year.
|
Barclays Bank PLC
|
Standard & Poor's
|
Moody's
|
Fitch
|
Long-term
|
A
|
A2
|
A
|
Short-term
|
A-1
|
P-1
|
F1
|
Outlook
|
Stable
|
Stable
|
Rating Watch Positive
|
|
|
|
|
Barclays Bank UK PLC
|
|
|
|
Long-term
|
A
|
A1
|
A
|
Short-term
|
A-1
|
P-1
|
F1
|
Outlook
|
Stable
|
Stable
|
Rating Watch Positive
|
|
|
|
|
Barclays PLC
|
|
|
|
Long-term
|
BBB
|
Baa3
|
A
|
Short-term
|
A-2
|
P-3
|
F1
|
Outlook
|
Stable
|
Stable
|
Stable
|
Capital ratios 1,2,3
|
As at
|
As at
|
As at
|
30.06.18
|
31.03.18
|
31.12.17
|
|
CET1
|
13.0%
|
12.7%
|
13.3%
|
Tier 1 (T1)
|
16.6%
|
16.4%
|
17.2%
|
Total regulatory capital
|
20.5%
|
20.3%
|
21.5%
|
|
|
|
|
Capital resources
|
£bn
|
£bn
|
£bn
|
Total equity excluding non-controlling interests per the balance
sheet
|
61.1
|
59.5
|
63.9
|
Less: other equity instruments (recognised as AT1
capital)
|
(8.9)
|
(8.9)
|
(8.9)
|
Adjustment to retained earnings for foreseeable
dividends
|
(0.6)
|
(0.7)
|
(0.4)
|
|
|
|
|
Other regulatory adjustments and deductions
|
|
|
|
Additional value adjustments (PVA)
|
(1.6)
|
(1.4)
|
(1.4)
|
Goodwill and intangible assets
|
(7.9)
|
(7.9)
|
(7.9)
|
Deferred tax assets that rely on future profitability excluding
temporary differences
|
(0.5)
|
(0.5)
|
(0.6)
|
Fair value reserves related to gains or losses on cash flow
hedges
|
(0.7)
|
(0.7)
|
(1.2)
|
Excess of expected losses over impairment
|
-
|
-
|
(1.2)
|
Gains or losses on liabilities at fair value resulting from own
credit
|
0.1
|
0.1
|
0.1
|
Defined benefit pension fund assets
|
(0.8)
|
(0.6)
|
(0.7)
|
Direct and indirect holdings by an institution of own CET1
instruments
|
(0.1)
|
(0.1)
|
(0.1)
|
Adjustment under IFRS 9 transitional arrangements
|
1.3
|
1.3
|
-
|
CET1 capital
|
41.4
|
40.2
|
41.6
|
|
|
|
|
AT1 capital
|
|
|
|
Capital instruments and related share premium accounts
|
8.9
|
8.9
|
8.9
|
Qualifying AT1 capital (including minority interests) issued by
subsidiaries
|
2.8
|
3.1
|
3.5
|
Other regulatory adjustments and deductions
|
(0.1)
|
(0.1)
|
(0.1)
|
AT1 capital
|
11.7
|
11.9
|
12.3
|
|
|
|
|
T1 capital
|
53.0
|
52.1
|
53.9
|
|
|
|
|
T2 capital
|
|
|
|
Capital instruments and related share premium accounts
|
6.6
|
6.3
|
6.5
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries
|
6.1
|
6.3
|
7.0
|
Credit risk adjustments (excess of impairment over expected
losses)
|
-
|
0.1
|
-
|
Other regulatory adjustments and deductions
|
(0.3)
|
(0.3)
|
(0.3)
|
Total regulatory capital
|
65.4
|
64.5
|
67.2
|
|
|
|
|
Total RWAs1
|
319.3
|
317.9
|
313.0
|
1
|
CET1, T1 and T2 capital, and RWAs are calculated applying the
transitional arrangements of the CRR. This includes IFRS 9
transitional arrangements and the grandfathering of CRR
non-compliant capital instruments.
|
2
|
The fully loaded CET1 ratio, as is relevant for assessing against
the conversion trigger in Barclays PLC additional tier 1 (AT1)
securities, was 12.6%, with £40.1bn of CET1 capital and
£319.2bn of RWAs calculated without applying the transitional
arrangements of the CRR.
|
3
|
The Barclays PLC CET1 ratio, as is relevant for assessing against
the conversion trigger in Barclays Bank PLC T2 Contingent Capital
Notes, was 13.0%. For this calculation CET1 capital and RWAs are
calculated applying the transitional arrangements under the CRR,
including the IFRS 9 transitional arrangements. The benefit of the
Financial Services Authority (FSA) October 2012 interpretation of
the transitional provisions, relating to the implementation of CRD
IV, expired in December 2017.
|
Movement in CET1 capital
|
Three months
|
Six months
|
ended
|
ended
|
|
30.06.18
|
30.06.18
|
|
£bn
|
£bn
|
|
Opening CET1 capital
|
40.2
|
41.6
|
|
|
|
Effects of changes in accounting policies
|
-
|
(2.2)
|
|
|
|
Profit for the period attributable to equity holders
|
1.4
|
0.8
|
Dividends paid and foreseen
|
(0.4)
|
(0.8)
|
Increase/(decrease) in retained regulatory capital generated from
earnings
|
1.0
|
-
|
|
|
|
Net impact of share schemes
|
0.2
|
(0.2)
|
Fair value through other comprehensive income reserve
|
(0.5)
|
(0.5)
|
Currency translation reserve
|
0.9
|
0.3
|
Increase/(decrease) in other qualifying reserves
|
0.6
|
(0.3)
|
|
|
|
Pension remeasurements within reserves
|
0.1
|
(0.1)
|
Defined benefit pension fund asset deduction
|
(0.3)
|
(0.1)
|
Net impact of pensions
|
(0.2)
|
(0.2)
|
|
|
|
Additional value adjustments (PVA)
|
(0.2)
|
(0.2)
|
Deferred tax assets that rely on future profitability excluding
those arising from temporary differences
|
-
|
0.1
|
Excess of expected loss over impairment
|
-
|
1.2
|
Adjustment under IFRS 9 transitional arrangements
|
-
|
1.3
|
(Decrease)/increase in regulatory capital due to adjustments and
deductions
|
(0.2)
|
2.5
|
|
|
|
Closing CET1 capital
|
41.4
|
41.4
|
●
|
A
£0.3bn decrease in other qualifying reserves including a
£0.5bn decrease in the fair value through other comprehensive
income reserve offset by a £0.3bn increase in the currency
translation reserve driven by the appreciation of period end USD
against GBP
|
●
|
A
£0.2bn decrease as a result of movements relating to pensions,
largely due to deficit contribution payments of £0.3bn in
April 2018
|
Risk weighted assets (RWAs) by risk type and business
|
|||||||||||||
|
Credit risk
|
|
Counterparty credit risk
|
|
Market risk
|
|
Operational risk
|
Total RWAs
|
|||||
|
Std
|
IRB
|
|
Std
|
IRB
|
Settlement risk
|
CVA
|
|
Std
|
IMA
|
|
|
|
As at 30.06.18
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
|
£bn
|
£bn
|
Barclays UK
|
3.9
|
59.1
|
|
0.2
|
-
|
-
|
-
|
|
-
|
-
|
|
11.8
|
75.0
|
Barclays International
|
51.1
|
74.4
|
|
15.6
|
16.4
|
0.1
|
2.9
|
|
14.7
|
14.4
|
|
28.4
|
218.0
|
Head Office
|
4.4
|
5.2
|
|
-
|
0.2
|
-
|
-
|
|
-
|
-
|
|
16.5
|
26.3
|
Barclays Group
|
59.4
|
138.7
|
|
15.8
|
16.6
|
0.1
|
2.9
|
|
14.7
|
14.4
|
|
56.7
|
319.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 31.03.18
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
3.2
|
57.1
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
|
12.2
|
72.5
|
Barclays International
|
47.5
|
71.9
|
|
17.8
|
17.0
|
0.1
|
2.5
|
|
16.1
|
13.6
|
|
27.7
|
214.2
|
Head Office
|
2.8
|
9.0
|
|
0.1
|
0.5
|
-
|
0.2
|
|
0.1
|
1.6
|
|
16.8
|
31.2
|
Barclays Group
|
53.6
|
138.0
|
|
17.9
|
17.5
|
0.1
|
2.7
|
|
16.2
|
15.2
|
|
56.7
|
317.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 31.12.17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays UK
|
3.8
|
55.0
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
|
12.2
|
70.9
|
Barclays International
|
49.1
|
69.5
|
|
17.0
|
17.2
|
0.1
|
2.8
|
|
13.3
|
13.5
|
|
27.7
|
210.3
|
Head Office
|
2.9
|
9.8
|
|
0.1
|
0.6
|
-
|
0.2
|
|
0.1
|
1.4
|
|
16.8
|
31.8
|
Barclays Group
|
55.8
|
134.2
|
|
17.1
|
17.9
|
0.1
|
3.0
|
|
13.4
|
14.9
|
|
56.7
|
313.0
|
Movement analysis of RWAs
|
|||||
|
Credit risk
|
Counterparty credit risk
|
Market risk
|
Operational risk
|
Total RWAs
|
Half year ended 30.06.18
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Opening RWAs
|
190.0
|
38.0
|
28.3
|
56.7
|
313.0
|
Book size
|
9.8
|
(1.0)
|
(0.6)
|
-
|
8.2
|
Acquisitions and disposals
|
(3.2)
|
(0.3)
|
(0.2)
|
-
|
(3.7)
|
Book quality
|
(2.4)
|
0.2
|
-
|
-
|
(2.2)
|
Model updates
|
(0.2)
|
-
|
-
|
-
|
(0.2)
|
Methodology and policy
|
3.1
|
(1.5)
|
1.6
|
-
|
3.2
|
Foreign exchange movements1
|
1.0
|
-
|
-
|
-
|
1.0
|
Closing RWAs
|
198.1
|
35.4
|
29.1
|
56.7
|
319.3
|
1
|
Foreign exchange movements does not include foreign exchange for
counterparty credit risk or market risk.
|
●
|
Book
size increased RWAs by £8.2bn primarily due to increased
lending activity in the investment banking businesses
|
●
|
Acquisitions
and disposals decreased RWAs by £3.7bn primarily due to the
regulatory deconsolidation of BAGL
|
●
|
Book
quality decreased RWAs by £2.2bn primarily due to changes in
the risk profile in Barclays International
|
●
|
Methodology
and policy increased RWAs by £3.2bn primarily due to
regulatory methodology changes for the ESHLA portfolio
|
●
|
Foreign
exchange movements increased RWAs by £1.0bn primarily due to
appreciation of period end USD against GBP
|
Leverage ratios1,2
|
As at
30.06.18
|
As at
31.03.18
|
As at
31.12.17
|
£bn
|
£bn
|
£bn
|
|
Average T1 capital3
|
49.7
|
50.0
|
51.2
|
Average UK leverage exposure4
|
1,082
|
1,090
|
1,045
|
Average UK leverage ratio
|
4.6%
|
4.6%
|
4.9%
|
UK leverage ratio
|
4.9%
|
4.8%
|
5.1%
|
|
|
|
|
CET1 capital
|
41.4
|
40.2
|
41.6
|
AT1 capital
|
8.8
|
8.8
|
8.8
|
T1 capital3
|
50.2
|
49.1
|
50.4
|
|
|
|
|
Leverage exposure
|
|
|
|
Accounting assets
|
|
|
|
Derivative financial instruments
|
228
|
215
|
238
|
Derivative cash collateral
|
48
|
52
|
53
|
Securities financing transactions (SFTs)
|
119
|
128
|
113
|
Loans and advances and other assets
|
755
|
747
|
729
|
Total IFRS assets
|
1,150
|
1,142
|
1,133
|
|
|
|
|
Regulatory consolidation adjustments
|
-
|
8
|
8
|
|
|
|
|
Derivatives adjustments
|
|
|
|
Derivatives netting
|
(208)
|
(195)
|
(217)
|
Adjustments to cash collateral
|
(40)
|
(34)
|
(42)
|
Net written credit protection
|
20
|
18
|
14
|
Potential future exposure (PFE) on derivatives
|
128
|
121
|
120
|
Total derivatives adjustments
|
(100)
|
(90)
|
(125)
|
|
|
|
|
SFTs adjustments
|
19
|
20
|
19
|
|
|
|
|
Regulatory deductions and other adjustments
|
(10)
|
(10)
|
(13)
|
|
|
|
|
Weighted off-balance sheet commitments
|
106
|
101
|
103
|
|
|
|
|
Qualifying central bank claims
|
(135)
|
(140)
|
(140)
|
|
|
|
|
UK leverage exposure2
|
1,030
|
1,031
|
985
|
1
|
The fully loaded UK leverage ratio was 4.8%, with £48.9bn of
T1 capital and £1,029bn of leverage exposure calculated
without applying the transitional arrangements of the
CRR.
|
2
|
Capital and leverage measures are calculated applying the
transitional arrangements of the CRR.
|
3
|
The T1 capital is calculated in line with the PRA Handbook, which
excludes grandfathered AT1 instruments allowed under the
CRR.
|
4
|
The average UK leverage exposure as at 31 December 2017 was
calculated based on the last day of each month in the
quarter.
|
●
|
Loans
and advances and other assets increased £26bn to £755bn.
This was primarily due to a £19bn increase in settlement
balances and a £6bn increase in bonds held by treasury, offset
by a £10bn decrease in cash and balances at central banks held
as part of the Barclays Group liquidity pool
|
●
|
PFEs
increased £8bn to £128bn primarily driven by an increase
in foreign exchange and interest rate derivatives
|
●
|
SFTs
increased £6bn to £119bn primarily driven by higher
client demand for securities due to an increase in trading
activity
|
●
|
Regulatory
consolidation adjustments decreased £8bn primarily driven by
the regulatory deconsolidation of BAGL
|
●
|
Loss
absorption and recapitalisation amounts consisting of 8% Pillar 1
and 4.3% Pillar 2A buffers respectively
|
●
|
Regulatory
buffers including a 1.5% G-SII buffer, 2.5% CCB and 0.5% from the
planned introduction of a 1% CCyB for the UK1
|
MREL ratios and position
|
|
|
|
MREL ratios
|
As at
30.06.18
|
As at
31.03.18
|
As at
31.12.17
|
CET1 capital2
|
13.0%
|
12.7%
|
13.3%
|
AT1 capital instruments and related share premium
accounts
|
2.8%
|
2.8%
|
2.9%
|
Tier 2 (T2) capital instruments and related share premium
accounts
|
2.1%
|
2.0%
|
2.1%
|
Term senior unsecured funding
|
8.7%
|
7.2%
|
6.8%
|
Total Barclays PLC (the Parent company) MREL ratio
|
26.5%
|
24.7%
|
25.0%
|
Qualifying AT1 capital (including minority interests) issued by
subsidiaries3
|
0.9%
|
0.9%
|
1.1%
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries3
|
1.8%
|
1.9%
|
2.2%
|
Total MREL ratio, including eligible Barclays Bank PLC
instruments
|
29.2%
|
27.5%
|
28.2%
|
|
|
|
|
MREL position
|
£bn
|
£bn
|
£bn
|
CET1 capital2
|
41.4
|
40.2
|
41.6
|
AT1 capital instruments and related share premium
accounts
|
8.9
|
8.9
|
8.9
|
T2 capital instruments and related share premium
accounts
|
6.6
|
6.3
|
6.5
|
Term senior unsecured funding
|
27.6
|
22.9
|
21.2
|
Total Barclays PLC (the Parent company) MREL position
|
84.5
|
78.3
|
78.2
|
Qualifying AT1 capital (including minority interests) issued by
subsidiaries3
|
2.7
|
2.9
|
3.4
|
Qualifying T2 capital (including minority interests) issued by
subsidiaries3
|
5.8
|
6.1
|
6.8
|
Total MREL position, including eligible Barclays Bank PLC
instruments
|
93.0
|
87.3
|
88.4
|
|
|
|
|
Total RWAs2
|
319.3
|
317.9
|
313.0
|
1
|
2022 requirements subject to Bank of England review by the end of
2020.
|
2
|
CET1 capital and RWAs are calculated applying the transitional
arrangements of the CRR. This includes IFRS 9 transitional
arrangements and the grandfathering of CRR non-compliant capital
instruments.
|
3
|
Includes other AT1 capital regulatory adjustments and deductions of
£0.1bn (December 2017: £0.1bn), and other T2 capital
regulatory adjustments and deductions of £0.3bn (December
2017: £0.3bn).
|
●
|
an indication of important events that have occurred during the six
months ended 30 June 2018 and their impact on the condensed
consolidated interim financial statements, and a description of the
principal risks and uncertainties for the remaining six months of
the financial year
|
●
|
any related party transactions in the six months ended 30 June 2018
that have materially affected the financial position or performance
of Barclays during that period and any changes in the related party
transactions described in the last Annual Report that could have a
material effect on the financial position or performance of
Barclays in the six months ended 30 June 2018.
|
James E Staley
|
Tushar Morzaria
|
Group
Chief Executive
|
Group
Finance Director
|
Chairman
John McFarlane
|
Executive Directors
James E Staley
Tushar Morzaria
|
Non-executive Directors
Mike Ashley
Tim Breedon CBE
Sir Ian Cheshire
Mary Anne Citrino
Mary Francis CBE
Crawford Gillies
Sir Gerry Grimstone
Reuben Jeffery III
Matthew Lester
Dambisa Moyo
Diane Schueneman
Mike Turner CBE
|
●
|
the
condensed consolidated income statement and condensed consolidated
statement of comprehensive income for the period then
ended;
|
●
|
the
condensed consolidated balance sheet as at 30 June
2018;
|
●
|
the
condensed consolidated statement of changes in equity for the
period then ended;
|
●
|
the
condensed consolidated cash flow statement for the period then
ended; and
|
●
|
the
related explanatory notes
|
Condensed consolidated income statement (unaudited)
|
|||
|
|
Half year ended
|
Half year ended
|
|
|
30.06.18
|
30.06.17
|
Continuing operations
|
Notes1
|
£m
|
£m
|
Net interest income
|
|
4,378
|
5,098
|
Net fee and commission income
|
3
|
3,489
|
3,550
|
Net trading income
|
|
2,480
|
1,667
|
Net investment income
|
|
512
|
528
|
Other income
|
|
75
|
38
|
Total income
|
|
10,934
|
10,881
|
Credit impairment charges and other provisions
|
|
(571)
|
(1,054)
|
Net operating income
|
|
10,363
|
9,827
|
|
|
|
|
Staff costs
|
4
|
(4,277)
|
(4,460)
|
Administration and general expenses
|
5
|
(4,439)
|
(3,272)
|
Operating expenses
|
|
(8,716)
|
(7,732)
|
|
|
|
|
Profit on disposal of undertakings and share of results of
associates and joint ventures
|
|
12
|
246
|
Profit before tax
|
|
1,659
|
2,341
|
Tax charge
|
6
|
(737)
|
(778)
|
Profit after tax in respect of continuing operations
|
|
922
|
1,563
|
Loss after tax in respect of discontinued operation
|
|
-
|
(2,195)
|
Profit/(loss) after tax
|
|
922
|
(632)
|
|
|
|
|
Attributable to:
|
|
|
|
Equity holders of the parent
|
|
468
|
(1,211)
|
Other equity instrument holders2
|
|
346
|
301
|
Total equity holders of the parent
|
|
814
|
(910)
|
Non-controlling interests in respect of continuing
operations
|
7
|
108
|
138
|
Non-controlling interests in respect of discontinued
operation
|
7
|
-
|
140
|
Profit/(loss) after tax
|
|
922
|
(632)
|
|
|
|
|
Earnings per share2
|
|
p
|
p
|
Basic earnings/(loss) per ordinary share
|
8
|
3.3
|
(6.6)
|
Basic earnings per ordinary share in respect of continuing
operations
|
8
|
3.3
|
7.1
|
Basic loss per ordinary share in respect of discontinued
operation
|
8
|
-
|
(13.7)
|
Diluted earnings/(loss) per ordinary share
|
8
|
3.2
|
(6.5)
|
Diluted earnings per ordinary share in respect of continuing
operations
|
8
|
3.2
|
7.0
|
Diluted loss per ordinary share in respect of discontinued
operation
|
8
|
-
|
(13.5)
|
1
|
For notes to the Financial Statements see pages 55 to
93.
|
2
|
The profit after tax attributable to other equity instrument
holders of £346m (H117: £301m) is offset by a tax credit
recorded in reserves of £93m (H117: £82m). The net amount
of £253m (H117: £219m), along with non-controlling
interests, is deducted from profit after tax in order to calculate
earnings per share and return on average tangible
shareholders’ equity.
|
Condensed consolidated statement of comprehensive income
(unaudited)
|
|||
|
|
|
|
|
|
Half year ended
|
Half year ended
|
|
|
30.06.18
|
30.06.17
|
|
Notes1
|
£m
|
£m
|
Profit/(loss) after tax
|
|
922
|
(632)
|
Profit after tax in respect of continuing operations
|
|
922
|
1,563
|
Loss after tax in respect of discontinued operation
|
|
-
|
(2,195)
|
|
|
|
|
Other comprehensive income/(loss) that
may be recycled to profit or loss from continuing
operations:2
|
|
||
Currency translation reserve
|
17
|
338
|
(635)
|
Available for sale reserve3
|
17
|
-
|
69
|
Fair value through other comprehensive income
reserve3
|
17
|
(189)
|
-
|
Cash flow hedging reserve
|
17
|
(509)
|
(531)
|
Other
|
|
11
|
15
|
Other comprehensive loss that may be recycled to profit or loss
from continuing operations
|
|
(349)
|
(1,082)
|
|
|
|
|
Other comprehensive income/(loss) not
recycled to profit or loss from continuing
operations:2
|
|
||
Retirement benefit remeasurements
|
14
|
(54)
|
(29)
|
Fair value through other comprehensive income
reserve3
|
17
|
(267)
|
-
|
Own credit
|
17
|
(73)
|
22
|
Other comprehensive loss not recycled to profit or loss from
continuing operations
|
|
(394)
|
(7)
|
|
|
|
|
Other comprehensive loss for the period from continuing
operations
|
|
(743)
|
(1,089)
|
|
|
|
|
Other comprehensive income for the period from discontinued
operation
|
|
-
|
1,301
|
|
|
|
|
Total comprehensive income/(loss) for the period:
|
|
|
|
Total comprehensive income for the period, net of tax from
continuing operations
|
|
179
|
474
|
Total comprehensive loss for the period, net of tax from
discontinued operation
|
|
-
|
(894)
|
Total comprehensive income/(loss) for the period
|
|
179
|
(420)
|
|
|
|
|
Attributable to:
|
|
|
|
Equity holders of the parent
|
|
70
|
(666)
|
Non-controlling interests
|
|
109
|
246
|
Total comprehensive income/(loss) for the period
|
|
179
|
(420)
|
1
|
For notes to the Financial Statements see pages 55 to
93.
|
2
|
Reported net of tax.
|
3
|
Following the adoption of IFRS 9, Financial Instruments on 1
January 2018, the fair value through other comprehensive income
reserve was introduced replacing the available for sale
reserve.
|
Condensed consolidated balance sheet (unaudited)
|
|||
|
|
As at
|
As at
|
|
|
30.06.18
|
31.12.172
|
Assets
|
Notes1
|
£m
|
£m
|
Cash and balances at central banks
|
|
160,751
|
171,082
|
Cash collateral and settlement balances
|
|
94,186
|
77,168
|
Loans and advances at amortised cost
|
|
320,967
|
324,048
|
Reverse repurchase agreements and other similar secured
lending
|
|
694
|
12,546
|
Trading portfolio assets
|
|
116,536
|
113,760
|
Financial assets at fair value through the income
statement
|
|
146,430
|
116,281
|
Derivative financial instruments
|
10
|
228,498
|
237,669
|
Financial investments
|
|
-
|
58,915
|
Financial assets at fair value through other comprehensive
income
|
|
60,089
|
-
|
Investments in associates and joint ventures
|
|
713
|
718
|
Goodwill and intangible assets
|
|
7,871
|
7,849
|
Property, plant and equipment
|
|
2,471
|
2,572
|
Current tax assets
|
6
|
567
|
482
|
Deferred tax assets
|
6
|
4,028
|
3,457
|
Retirement benefit assets
|
14
|
1,124
|
966
|
Other assets
|
|
4,647
|
4,542
|
Assets included in disposal groups classified as held for
sale
|
|
-
|
1,193
|
Total assets
|
|
1,149,572
|
1,133,248
|
|
|
|
|
Liabilities
|
|
|
|
Deposits at amortised cost
|
|
386,451
|
398,701
|
Cash collateral and settlement balances
|
|
85,254
|
68,143
|
Repurchase agreements and other similar secured
borrowing
|
|
20,865
|
40,338
|
Debt securities in issue
|
|
78,404
|
73,314
|
Subordinated liabilities
|
12
|
20,095
|
23,826
|
Trading portfolio liabilities
|
|
47,367
|
37,351
|
Financial liabilities designated at fair value
|
|
211,390
|
173,718
|
Derivative financial instruments
|
10
|
224,928
|
238,345
|
Current tax liabilities
|
6
|
684
|
586
|
Deferred tax liabilities
|
6
|
71
|
44
|
Retirement benefit liabilities
|
14
|
291
|
312
|
Other liabilities
|
|
7,315
|
9,011
|
Provisions
|
13
|
3,289
|
3,543
|
Total liabilities
|
|
1,086,404
|
1,067,232
|
|
|
|
|
Equity
|
|
|
|
Called up share capital and share premium
|
15
|
22,144
|
22,045
|
Other reserves
|
17
|
4,532
|
5,383
|
Retained earnings
|
|
25,441
|
27,536
|
Shareholders' equity attributable to ordinary shareholders of the
parent
|
|
52,117
|
54,964
|
Other equity instruments
|
16
|
8,938
|
8,941
|
Total equity excluding non-controlling interests
|
|
61,055
|
63,905
|
Non-controlling interests
|
7
|
2,113
|
2,111
|
Total equity
|
|
63,168
|
66,016
|
|
|
|
|
Total liabilities and equity
|
|
1,149,572
|
1,133,248
|
1
|
For notes to the Financial Statements see pages 55 to
93.
|
2
|
Barclays introduced changes to the balance sheet presentation as at
31 December 2017 as a result of the adoption of new accounting
policies on 1 January 2018. Further detail on the adoption of new
accounting policies can be found in Note 1, Basis of preparation on
pages 55 to 60, Note 21, Transition disclosures on pages 90 to 92
and the Credit risk disclosures on pages 27 to
30.
|
Condensed consolidated statement of changes in equity
(unaudited)
|
|||||||
|
Called up share capital and share
premium1
|
Other equity
instruments1
|
Other reserves1
|
Retained earnings
|
Total
|
Non-controlling
interests2
|
Total equity
|
Half year ended 30.06.18
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Balance as at 31 December 2017
|
22,045
|
8,941
|
5,383
|
27,536
|
63,905
|
2,111
|
66,016
|
Effects of changes in accounting policies
|
-
|
-
|
(136)
|
(2,014)
|
(2,150)
|
-
|
(2,150)
|
Balance as at 1 January 2018
|
22,045
|
8,941
|
5,247
|
25,522
|
61,755
|
2,111
|
63,866
|
Continuing operations
|
|
|
|
|
|
|
|
Profit after tax
|
-
|
346
|
-
|
468
|
814
|
108
|
922
|
Currency translation movements
|
-
|
-
|
338
|
-
|
338
|
-
|
338
|
Fair value through other comprehensive income reserve
|
-
|
-
|
(456)
|
-
|
(456)
|
-
|
(456)
|
Cash flow hedges
|
-
|
-
|
(509)
|
-
|
(509)
|
-
|
(509)
|
Retirement benefit remeasurements
|
-
|
-
|
-
|
(54)
|
(54)
|
-
|
(54)
|
Own credit
|
-
|
-
|
(73)
|
-
|
(73)
|
-
|
(73)
|
Other
|
-
|
-
|
-
|
10
|
10
|
1
|
11
|
Total comprehensive income for the period
|
-
|
346
|
(700)
|
424
|
70
|
109
|
179
|
Issue of new ordinary shares
|
67
|
-
|
-
|
-
|
67
|
-
|
67
|
Issue of shares under employee share schemes
|
32
|
-
|
-
|
237
|
269
|
-
|
269
|
Other equity instruments coupons paid
|
-
|
(346)
|
-
|
93
|
(253)
|
-
|
(253)
|
Redemption of preference shares
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Treasury shares
|
-
|
-
|
(15)
|
(484)
|
(499)
|
-
|
(499)
|
Dividends paid
|
-
|
-
|
-
|
(341)
|
(341)
|
(106)
|
(447)
|
Other movements
|
-
|
(3)
|
-
|
(10)
|
(13)
|
(1)
|
(14)
|
Balance as at 30 June 2018
|
22,144
|
8,938
|
4,532
|
25,441
|
61,055
|
2,113
|
63,168
|
|
|
|
|
|
|
|
|
Half year ended 31.12.17
|
|
|
|
|
|
|
|
Balance as at 1 July 2017
|
21,998
|
7,694
|
6,148
|
28,026
|
63,866
|
2,397
|
66,263
|
Continuing operations
|
|
|
|
|
|
|
|
Profit after tax
|
-
|
338
|
-
|
(711)
|
(373)
|
111
|
(262)
|
Currency translation movements
|
-
|
-
|
(702)
|
-
|
(702)
|
-
|
(702)
|
Available for sale investments
|
-
|
-
|
380
|
-
|
380
|
-
|
380
|
Cash flow hedges
|
-
|
-
|
(417)
|
-
|
(417)
|
-
|
(417)
|
Retirement benefit remeasurements
|
-
|
-
|
-
|
82
|
82
|
-
|
82
|
Own credit
|
-
|
-
|
(33)
|
-
|
(33)
|
-
|
(33)
|
Other
|
-
|
-
|
-
|
(20)
|
(20)
|
-
|
(20)
|
Total comprehensive income for the period
|
-
|
338
|
(772)
|
(649)
|
(1,083)
|
111
|
(972)
|
Issue of new ordinary shares
|
10
|
-
|
-
|
-
|
10
|
-
|
10
|
Issue of shares under employee share schemes
|
37
|
-
|
-
|
221
|
258
|
-
|
258
|
Issue and exchange of other equity instruments
|
-
|
1,245
|
-
|
-
|
1,245
|
-
|
1,245
|
Other equity instruments coupons paid
|
-
|
(338)
|
-
|
92
|
(246)
|
-
|
(246)
|
Redemption of preference shares
|
-
|
-
|
-
|
(6)
|
(6)
|
(203)
|
(209)
|
Treasury shares
|
-
|
-
|
-
|
(19)
|
(19)
|
-
|
(19)
|
Dividends paid
|
-
|
-
|
-
|
(170)
|
(170)
|
(108)
|
(278)
|
Net equity impact of partial BAGL disposal
|
-
|
-
|
-
|
-
|
-
|
(19)
|
(19)
|
Other movements
|
-
|
2
|
7
|
41
|
50
|
(67)
|
(17)
|
Balance as at 31 December 2017
|
22,045
|
8,941
|
5,383
|
27,536
|
63,905
|
2,111
|
66,016
|
1
|
Details of share capital, other equity instruments and other
reserves are shown on pages 77 to 78.
|
2
|
Details of non-controlling interests are shown on page
64.
|
Condensed consolidated statement of changes in equity
(unaudited)
|
|||||||
|
Called up share capital and share
premium1
|
Other equity
instruments1
|
Other reserves1
|
Retained earnings
|
Total
|
Non-controlling
interests2
|
Total equity
|
Half year ended 30.06.17
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Balance as at 31 December 2016
|
21,842
|
6,449
|
6,051
|
30,531
|
64,873
|
6,492
|
71,365
|
Effects of changes in accounting policies
|
-
|
-
|
(175)
|
175
|
-
|
-
|
-
|
Balance as at 1 January 2017
|
21,842
|
6,449
|
5,876
|
30,706
|
64,873
|
6,492
|
71,365
|
Continuing operations
|
|
|
|
|
|
|
|
Profit after tax
|
-
|
301
|
-
|
1,124
|
1,425
|
138
|
1,563
|
Currency translation movements
|
-
|
-
|
(634)
|
-
|
(634)
|
(1)
|
(635)
|
Available for sale investments
|
-
|
-
|
69
|
-
|
69
|
-
|
69
|
Cash flow hedges
|
-
|
-
|
(531)
|
-
|
(531)
|
-
|
(531)
|
Retirement benefit remeasurements
|
-
|
-
|
-
|
(29)
|
(29)
|
-
|
(29)
|
Own credit
|
-
|
-
|
22
|
-
|
22
|
-
|
22
|
Other
|
-
|
-
|
-
|
15
|
15
|
-
|
15
|
Total comprehensive income net of tax from continuing
operations
|
-
|
301
|
(1,074)
|
1,110
|
337
|
137
|
474
|
Total comprehensive income net of tax from discontinued
operation
|
-
|
-
|
1,332
|
(2,335)
|
(1,003)
|
109
|
(894)
|
Total comprehensive income for the period
|
-
|
301
|
258
|
(1,225)
|
(666)
|
246
|
(420)
|
Issue of new ordinary shares
|
107
|
-
|
-
|
-
|
107
|
-
|
107
|
Issue of shares under employee share schemes
|
49
|
-
|
-
|
284
|
333
|
-
|
333
|
Issue and exchange of other equity instruments
|
-
|
1,245
|
-
|
-
|
1,245
|
-
|
1,245
|
Other equity instruments coupons paid
|
-
|
(301)
|
-
|
82
|
(219)
|
-
|
(219)
|
Redemption of preference shares
|
-
|
-
|
-
|
(473)
|
(473)
|
(657)
|
(1,130)
|
Treasury shares
|
-
|
-
|
14
|
(617)
|
(603)
|
-
|
(603)
|
Dividends paid
|
-
|
-
|
-
|
(339)
|
(339)
|
(307)
|
(646)
|
Net equity impact of partial BAGL disposal
|
-
|
-
|
-
|
(359)
|
(359)
|
(3,443)
|
(3,802)
|
Other movements
|
-
|
-
|
-
|
(33)
|
(33)
|
66
|
33
|
Balance as at 30 June 2017
|
21,998
|
7,694
|
6,148
|
28,026
|
63,866
|
2,397
|
66,263
|
1
|
Details of share capital, other equity instruments and other
reserves are shown on pages 77 to 78.
|
2
|
Details of non-controlling interests are shown on page
64.
|
Condensed consolidated cash flow statement (unaudited)
|
|
|
|
Half year ended
|
Half year ended
|
|
30.06.18
|
30.06.17
|
Continuing operations
|
£m
|
£m
|
Profit before tax
|
1,659
|
2,341
|
Adjustment for non-cash items
|
2,716
|
1,041
|
Changes in operating assets and liabilities
|
(2,799)
|
32,088
|
Corporate income tax paid
|
(172)
|
(530)
|
Net cash from operating activities
|
1,404
|
34,940
|
Net cash from investing activities
|
(7,332)
|
2,043
|
Net cash from financing activities
|
(4,300)
|
287
|
Effect of exchange rates on cash and cash equivalents
|
403
|
(1,092)
|
Net (decrease)/increase in cash and cash equivalents from
continuing operations
|
(9,825)
|
36,178
|
Net cash from discontinued operation
|
-
|
101
|
Net (decrease)/increase in cash and cash equivalents
|
(9,825)
|
36,279
|
Cash and cash equivalents at beginning of the period
|
204,612
|
144,110
|
Cash and cash equivalents at end of the period
|
194,787
|
180,389
|
1.
|
IFRS 9 Financial Instruments
|
(i)
|
Changes in presentation
|
●
|
‘Items
in the course of collection from other banks’ and
‘prepayments, accrued income and other assets’ are
reported in ‘other assets’. Equally, ‘items in
the course of collection due to other banks’ and
‘accruals, deferred income and other liabilities’ are
reported in ‘other liabilities’;
|
●
|
‘Loans
and advances to banks’ and ‘loans and advances to
customers’ have been disaggregated and are now reported in
‘loans and advances at amortised cost’ and ‘cash
collateral and settlement balances’;
|
●
|
‘Deposits
from banks’ and ‘customer accounts’ have been
disaggregated and are now reported in ‘deposits at amortised
cost’ and ‘cash collateral and settlement
balances’;
|
●
|
‘Financial
assets designated at fair value’ are now reported within
‘financial assets at fair value
through the income statement’;
|
●
|
The
majority of available for sale assets which were previously
reported in ‘financial investments’ are now reported in
‘financial assets at fair value through other comprehensive
income’; and
|
●
|
Held to
maturity assets which were previously reported in ‘financial
investments’ are now reported in ‘loans and advances at
amortised cost’.
|
(ii)
|
Application of IFRS 9
|
i)
|
the
business model within which financial assets are managed;
and
|
ii)
|
their
contractual cash flow characteristics (whether the cash flows
represent ‘solely payments of principal and interest’
(SPPI)).
|
(iii)
|
Financial instruments measured at amortised cost
|
(iv)
|
Financial assets measured at fair value through other comprehensive
income (‘FVOCI’)
|
(v)
|
Equity securities
|
(vi)
|
Financial instruments designated at fair value through profit or
loss
|
●
|
the use
of the designation removes or significantly reduces an accounting
mismatch;
|
●
|
when a
group of financial assets and liabilities or a group of financial
liabilities is managed and its performance is evaluated on a fair
value basis, in accordance with a documented risk management or
investment strategy; or
|
●
|
where
the financial liability contains one or more non-closely related
embedded derivatives.
|
(vii)
|
Financial assets at fair value through profit or loss
|
(viii)
|
Derivatives
|
(ix)
|
Impairment
|
i)
|
Quantitative
test
|
●
|
Back-population
of the approved lifetime PD score either to origination date or,
where this is not feasible, as far back as possible, (subject to a
data start point no later than 1 January 2015); or
|
●
|
Use of
available historic account performance data and other customer
information, to derive a comparable ‘proxy’ estimation
of origination PD.
|
ii)
|
Qualitative
test
|
iii)
|
Backstop
criteria
|
(x)
|
Forward-looking information
|
(xi)
|
Definition of default, credit impaired assets, write-offs, and
interest income recognition
|
(xii)
|
Loan modifications and renegotiations that are not
credit-impaired
|
(xiii)
|
Expected life
|
(xiv)
|
Discounting
|
(xv)
|
Modelling techniques
|
●
|
BCBS
requires 12 month through the economic cycle losses whereas IFRS 9
requires 12 months or lifetime point in time losses based on
conditions at the reporting date and multiple forecasts of the
future economic conditions over the expected lives;
|
●
|
IFRS 9
models do not include certain conservative BCBS model floors and
downturn assessments and require discounting to the reporting date
at the original EIR rather than using the cost of capital to the
date of default;
|
●
|
Management
adjustments are made to modelled output to account for situations
where known or expected risk factors and information have not been
considered in the modelling process, for example forecast economic
scenarios for uncertain political events; and
|
●
|
ECL is
measured at the individual financial instrument level, however a
collective approach where financial instruments with similar risk
characteristics are grouped together, with apportionment to
individual financial instruments, is used where effects can only be
seen at a collective level, for example for forward-looking
information.
|
(xvi)
|
Forbearance
|
2.
|
IFRS 15 Revenue from Contracts with Customers
|
3.
|
Going concern
|
Analysis of results by business
|
|
|
|
|
|
Barclays
UK
|
Barclays
International
|
Head
Office
|
Barclays
Group
|
Half year ended 30.06.18
|
£m
|
£m
|
£m
|
£m
|
Total income1
|
3,624
|
7,515
|
(205)
|
10,934
|
Credit impairment (charges)/releases and other
provisions
|
(415)
|
(161)
|
5
|
(571)
|
Net operating income/(expenses)
|
3,209
|
7,354
|
(200)
|
10,363
|
Operating expenses
|
(2,387)
|
(4,668)
|
(1,661)
|
(8,716)
|
Other net income/(expenses)2
|
4
|
24
|
(16)
|
12
|
Profit/(loss) before tax
|
826
|
2,710
|
(1,877)
|
1,659
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
Total assets
|
245.9
|
886.5
|
17.2
|
1,149.6
|
|
Barclays
UK
|
Barclays
International
|
Head
Office
|
Barclays
Non-Core3
|
Barclays
Group
|
Half year ended 30.06.17
|
£m
|
£m
|
£m
|
£m
|
£m
|
Total income
|
3,661
|
7,748
|
2
|
(530)
|
10,881
|
Credit impairment charges and other provisions
|
(398)
|
(625)
|
(1)
|
(30)
|
(1,054)
|
Net operating income/(expenses)
|
3,263
|
7,123
|
1
|
(560)
|
9,827
|
Operating expenses
|
(2,628)
|
(4,720)
|
(100)
|
(284)
|
(7,732)
|
Other net (expenses)/income2
|
(1)
|
214
|
(164)
|
197
|
246
|
Profit/(loss) before tax
|
634
|
2,617
|
(263)
|
(647)
|
2,341
|
|
|
|
|
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Total assets
|
203.4
|
681.6
|
17.3
|
233.0
|
1,135.3
|
1
|
£176m of certain legacy capital instrument funding costs are
now charged to Head Office, the impact of which would have been
materially the same if the charges had been included in
H117.
|
2
|
Other net income/(expenses) represents the share of post-tax
results of associates and joint ventures, profit (or loss) on
disposal of subsidiaries, associates and joint ventures and gains
on acquisitions.
|
3
|
Barclays Non-Core segment was closed on 1 July 2017, with financial
performance subsequently reported in Barclays UK, Barclays
International and Head Office.
|
|
Half year ended
|
Half year ended
|
Split of income by geographic region1
|
30.06.18
|
30.06.17
|
£m
|
£m
|
|
UK
|
5,527
|
5,649
|
Europe
|
1,042
|
731
|
Americas
|
3,966
|
4,093
|
Africa and Middle East
|
103
|
139
|
Asia
|
296
|
269
|
Total
|
10,934
|
10,881
|
1
|
The geographic region is based on counterparty
location.
|
|
Barclays UK
|
Barclays International
|
Head Office
|
Total
|
Half year ended 30.06.18
|
£m
|
£m
|
£m
|
£m
|
Fee type
|
|
|
|
|
Transactional
|
530
|
1,257
|
-
|
1,787
|
Advisory
|
99
|
377
|
-
|
476
|
Brokerage and execution
|
52
|
583
|
-
|
635
|
Underwriting and syndication
|
-
|
1,368
|
-
|
1,368
|
Other
|
61
|
125
|
16
|
202
|
Total revenue from contracts with customers
|
742
|
3,710
|
16
|
4,468
|
Other non-contract fee income
|
-
|
55
|
-
|
55
|
Fee and commission income
|
742
|
3,765
|
16
|
4,523
|
Fee and commission expense
|
(172)
|
(847)
|
(15)
|
(1,034)
|
Net fee and commission income
|
570
|
2,918
|
1
|
3,489
|
|
Half year ended
|
Half year ended
|
|
30.06.18
|
30.06.17
|
Compensation costs
|
£m
|
£m
|
Current year bonus charges
|
593
|
558
|
Deferred bonus charge
|
256
|
340
|
Commissions and other incentives
|
21
|
58
|
Performance costs
|
870
|
956
|
Salaries
|
2,069
|
1,968
|
Social security costs
|
303
|
297
|
Post-retirement benefits
|
243
|
253
|
Other compensation costs
|
199
|
189
|
Total compensation costs
|
3,684
|
3,663
|
|
|
|
Other resourcing costs
|
|
|
Outsourcing
|
277
|
579
|
Redundancy and restructuring
|
60
|
23
|
Temporary staff costs
|
193
|
167
|
Other
|
63
|
28
|
Total other resourcing costs
|
593
|
797
|
|
|
|
Total staff costs
|
4,277
|
4,460
|
|
|
|
Barclays Group compensation costs as a % of total
income
|
33.7
|
33.7
|
|
Half year ended
|
Half year ended
|
|
30.06.18
|
30.06.17
|
Infrastructure costs
|
£m
|
£m
|
Property and equipment
|
685
|
671
|
Depreciation of property, plant and equipment
|
202
|
228
|
Operating lease rentals
|
128
|
198
|
Amortisation of intangible assets
|
412
|
342
|
Impairment of property, equipment and intangible
assets
|
1
|
23
|
Total infrastructure costs
|
1,428
|
1,462
|
|
|
|
Other costs
|
|
|
Consultancy, legal and professional fees1
|
353
|
467
|
Subscriptions, publications, stationery and
communications
|
319
|
284
|
Marketing, advertising and sponsorship
|
195
|
189
|
Travel and accommodation
|
74
|
74
|
Litigation and conduct1
|
2,042
|
743
|
Other administration and general expenses1
|
28
|
53
|
Total other costs
|
3,011
|
1,810
|
|
|
|
Total administration and general expenses
|
4,439
|
3,272
|
1
|
The presentation of other costs has been amended to include
litigation and conduct as a separate line item. The prior year
comparatives within other cost categories have been adjusted
accordingly.
|
|
Assets
|
|
Liabilities
|
||
|
As at
|
As at
|
|
As at
|
As at
|
|
30.06.18
|
31.12.17
|
|
30.06.18
|
31.12.17
|
Current and deferred tax assets and liabilities
|
£m
|
£m
|
|
£m
|
£m
|
Current tax
|
567
|
482
|
|
(684)
|
(586)
|
Deferred tax
|
4,028
|
3,457
|
|
(71)
|
(44)
|
Total
|
4,595
|
3,939
|
|
(755)
|
(630)
|
|
|
|
|
|
|
|
Profit attributable to
non-controlling interests
|
|
Equity attributable to
non-controlling interests
|
||
|
Half year ended
|
Half year ended
|
|
As at
|
As at
|
|
30.06.18
|
30.06.17
|
|
30.06.18
|
31.12.17
|
|
£m
|
£m
|
|
£m
|
£m
|
Barclays Bank PLC issued:
|
|
|
|
|
|
- Preference shares
|
106
|
134
|
|
1,838
|
1,838
|
- Upper T2 instruments
|
3
|
2
|
|
272
|
272
|
Barclays Africa Group Limited
|
-
|
140
|
|
-
|
-
|
Other non-controlling interests
|
(1)
|
2
|
|
3
|
1
|
Total
|
108
|
278
|
|
2,113
|
2,111
|
|
Half year ended
|
Half year ended
|
|
30.06.18
|
30.06.17
|
|
£m
|
£m
|
Profit/(loss) attributable to ordinary equity holders of the parent
from continuing and discontinued operations
|
468
|
(1,211)
|
Tax credit on profit after tax attributable to other equity
holders
|
93
|
82
|
Total profit/(loss) attributable to ordinary equity holders of the
parent from continuing and discontinued operations
|
561
|
(1,129)
|
|
|
|
Continuing operations
|
|
|
Profit attributable to ordinary equity holders of the parent from
continuing operations
|
468
|
1,124
|
Tax credit on profit after tax attributable to other equity
holders
|
93
|
82
|
Profit attributable to equity holders of the parent from continuing
operations
|
561
|
1,206
|
|
|
|
Discontinued operation
|
|
|
(Loss) attributable to ordinary equity holders of the parent from
discontinued operation
|
-
|
(2,335)
|
Dilutive impact of convertible options from discontinued
operation
|
-
|
-
|
(Loss) attributable to equity holders of the parent from
discontinued operation including dilutive impact on convertible
options
|
-
|
(2,335)
|
|
|
|
Profit/(loss) attributable to equity holders of the parent from
continuing and discontinued operations including dilutive impact on
convertible options
|
561
|
(1,129)
|
|
|
|
|
m
|
m
|
Basic weighted average number of shares in issue
|
17,067
|
16,989
|
Number of potential ordinary shares
|
258
|
304
|
Diluted weighted average number of shares
|
17,325
|
17,293
|
|
|
|
|
p
|
p
|
Basic earnings/(loss) per ordinary share1
|
3.3
|
(6.6)
|
Basic earnings per ordinary share from continuing
operations1
|
3.3
|
7.1
|
Basic (loss) per ordinary share from discontinued
operation
|
-
|
(13.7)
|
Diluted earnings/(loss) per ordinary share1
|
3.2
|
(6.5)
|
Diluted earnings per ordinary share from continuing
operations1
|
3.2
|
7.0
|
Diluted loss per ordinary share from discontinued
operation
|
-
|
(13.5)
|
1
|
The profit after tax attributable to other equity instrument
holders of £346m (H117: £301m) is offset by a tax credit
recorded in reserves of £93m (H117: £82m). The net amount
of £253m (H117: £219m), along with non-controlling
interests, is deducted from profit after tax in order to calculate
earnings per share and return on average tangible
shareholders’ equity.
|
|
Half year ended 30.06.18
|
Half year ended 30.06.17
|
||
|
Per share
|
Total
|
Per share
|
Total
|
Dividends paid during the period
|
p
|
£m
|
p
|
£m
|
Final dividend paid during period
|
2.0
|
341
|
2.0
|
339
|
10.
Derivative financial instruments
|
|
|
|
|
|
Contract notional
amount
|
|
Fair value
|
|
|
|
Assets
|
Liabilities
|
|
As at 30.06.18
|
£m
|
|
£m
|
£m
|
Foreign exchange derivatives
|
6,157,051
|
|
71,963
|
(70,484)
|
Interest rate derivatives
|
37,245,041
|
|
127,642
|
(121,842)
|
Credit derivatives
|
728,106
|
|
10,683
|
(9,558)
|
Equity and stock index and commodity derivatives
|
998,333
|
|
18,053
|
(22,909)
|
Derivative assets/(liabilities) held for trading
|
45,128,531
|
|
228,341
|
(224,793)
|
|
|
|
|
|
Derivatives in hedge accounting relationships
|
|
|
|
|
Derivatives designated as cash flow hedges
|
78,828
|
|
5
|
(3)
|
Derivatives designated as fair value hedges
|
131,685
|
|
139
|
(71)
|
Derivatives designated as hedges of net investments
|
2,799
|
|
13
|
(61)
|
Derivative assets/(liabilities) designated in hedge accounting
relationships
|
213,312
|
|
157
|
(135)
|
|
|
|
|
|
Total recognised derivative assets/(liabilities)
|
45,341,843
|
|
228,498
|
(224,928)
|
|
|
|
|
|
As at 31.12.17
|
|
|
|
|
Foreign exchange derivatives
|
4,819,811
|
|
54,902
|
(53,460)
|
Interest rate derivatives
|
29,193,812
|
|
152,919
|
(145,658)
|
Credit derivatives
|
715,001
|
|
12,549
|
(11,552)
|
Equity and stock index and commodity derivatives
|
958,049
|
|
17,134
|
(26,566)
|
Derivative assets/(liabilities) held for trading
|
35,686,673
|
|
237,504
|
(237,236)
|
|
|
|
|
|
Derivatives in hedge accounting relationships
|
|
|
|
|
Derivatives designated as cash flow hedges
|
123,585
|
|
7
|
(3)
|
Derivatives designated as fair value hedges
|
104,781
|
|
117
|
(1,096)
|
Derivatives designated as hedges of net investments
|
2,982
|
|
41
|
(10)
|
Derivative assets/(liabilities) designated in hedge accounting
relationships
|
231,348
|
|
165
|
(1,109)
|
|
|
|
|
|
Total recognised derivative assets/(liabilities)
|
35,918,021
|
|
237,669
|
(238,345)
|
|
Valuation technique using
|
|
|
||
|
Quoted market prices
|
Observable inputs
|
Significant unobservable inputs
|
|
|
|
(Level 1)
|
(Level 2)
|
(Level 3)
|
|
Total
|
As at 30.06.18
|
£m
|
£m
|
£m
|
|
£m
|
Trading portfolio assets
|
55,851
|
56,844
|
3,841
|
|
116,536
|
Financial assets at fair value through the income
statement
|
5,497
|
133,106
|
7,827
|
|
146,430
|
Derivative financial instruments
|
4,374
|
219,058
|
5,066
|
|
228,498
|
Financial assets at fair value through other comprehensive
income
|
26,091
|
33,893
|
105
|
|
60,089
|
Investment property
|
-
|
-
|
11
|
|
11
|
Total assets
|
91,813
|
442,901
|
16,850
|
|
551,564
|
|
|
|
|
|
|
Trading portfolio liabilities
|
(26,450)
|
(20,917)
|
-
|
|
(47,367)
|
Financial liabilities designated at fair value
|
-
|
(211,053)
|
(337)
|
|
(211,390)
|
Derivative financial instruments
|
(3,863)
|
(215,772)
|
(5,293)
|
|
(224,928)
|
Total liabilities
|
(30,313)
|
(447,742)
|
(5,630)
|
|
(483,685)
|
|
|
|
|
|
|
As at 31.12.17
|
|
|
|
|
|
Trading portfolio assets
|
63,925
|
47,858
|
1,977
|
|
113,760
|
Financial assets at fair value through the income
statement
|
4,347
|
104,187
|
7,747
|
|
116,281
|
Derivative financial assets
|
3,786
|
228,549
|
5,334
|
|
237,669
|
Available for sale investments
|
22,841
|
30,571
|
395
|
|
53,807
|
Investment property
|
-
|
-
|
116
|
|
116
|
Assets included in disposal groups classified as held for
sale
|
-
|
-
|
29
|
|
29
|
Total assets
|
94,899
|
411,165
|
15,598
|
|
521,662
|
|
|
|
|
|
|
Trading portfolio liabilities
|
(20,905)
|
(16,442)
|
(4)
|
|
(37,351)
|
Financial liabilities designated at fair value
|
-
|
(173,238)
|
(480)
|
|
(173,718)
|
Derivative financial liabilities
|
(3,631)
|
(229,517)
|
(5,197)
|
|
(238,345)
|
Total liabilities
|
(24,536)
|
(419,197)
|
(5,681)
|
|
(449,414)
|
|
|
|
|
|
|
|
Assets
|
Liabilities
|
||||
|
Valuation technique using
|
Valuation technique using
|
||||
|
Quoted
market prices
(Level 1)
|
Observable
inputs
(Level 2)
|
Significant
unobservable
inputs
(Level 3)
|
Quoted
market prices
(Level 1)
|
Observable
inputs
(Level 2)
|
Significant
unobservable
inputs
(Level 3)
|
As at 30.06.18
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Interest rate derivatives
|
-
|
125,423
|
2,362
|
-
|
(119,168)
|
(2,747)
|
Foreign exchange derivatives
|
-
|
71,851
|
126
|
-
|
(70,400)
|
(146)
|
Credit derivatives
|
-
|
9,532
|
1,151
|
-
|
(9,332)
|
(226)
|
Equity derivatives
|
4,374
|
10,494
|
1,425
|
(3,863)
|
(15,138)
|
(2,172)
|
Commodity derivatives
|
-
|
1,758
|
2
|
-
|
(1,734)
|
(2)
|
Government and government sponsored debt
|
46,548
|
58,559
|
25
|
(11,124)
|
(15,792)
|
-
|
Corporate debt
|
-
|
14,075
|
881
|
-
|
(5,680)
|
-
|
Certificates of deposit, commercial paper and other money market
instruments
|
-
|
12,933
|
-
|
-
|
(32,709)
|
(48)
|
Reverse repurchase and repurchase agreements
|
-
|
118,077
|
-
|
-
|
(136,312)
|
-
|
Non-asset backed loans
|
-
|
10,014
|
7,740
|
-
|
-
|
-
|
Asset backed securities
|
-
|
2,158
|
592
|
-
|
(216)
|
-
|
Issued debt
|
-
|
-
|
-
|
-
|
(40,993)
|
(289)
|
Equity cash products
|
40,882
|
7,115
|
139
|
(15,326)
|
(110)
|
-
|
Private equity investments
|
9
|
-
|
1,088
|
-
|
-
|
-
|
Assets and liabilities held for sale
|
-
|
-
|
-
|
-
|
-
|
-
|
Other1
|
-
|
912
|
1,319
|
-
|
(158)
|
-
|
Total
|
91,813
|
442,901
|
16,850
|
(30,313)
|
(447,742)
|
(5,630)
|
|
|
|
|
|
|
|
As at 31.12.17
|
|
|
|
|
|
|
Interest rate derivatives
|
-
|
150,325
|
2,718
|
-
|
(143,890)
|
(2,867)
|
Foreign exchange derivatives
|
-
|
54,783
|
160
|
-
|
(53,346)
|
(124)
|
Credit derivatives
|
-
|
11,163
|
1,386
|
-
|
(11,312)
|
(240)
|
Equity derivatives
|
3,786
|
9,848
|
1,064
|
(3,631)
|
(18,527)
|
(1,961)
|
Commodity derivatives
|
-
|
2,430
|
6
|
-
|
(2,442)
|
(5)
|
Government and government sponsored debt
|
34,783
|
49,853
|
49
|
(13,079)
|
(13,116)
|
-
|
Corporate debt
|
-
|
15,098
|
871
|
-
|
(3,580)
|
(4)
|
Certificates of deposit, commercial paper and other money market
instruments
|
-
|
1,491
|
-
|
-
|
(7,377)
|
(250)
|
Reverse repurchase and repurchase agreements
|
-
|
100,038
|
-
|
-
|
(126,691)
|
-
|
Non-asset backed loans
|
-
|
5,710
|
6,657
|
-
|
-
|
-
|
Asset backed securities
|
-
|
1,837
|
626
|
-
|
(221)
|
-
|
Issued debt
|
-
|
-
|
-
|
-
|
(38,176)
|
(214)
|
Equity cash products
|
56,322
|
7,690
|
112
|
(7,826)
|
(388)
|
-
|
Private equity investments
|
8
|
1
|
817
|
-
|
-
|
(16)
|
Assets and liabilities held for sale
|
-
|
-
|
29
|
-
|
-
|
-
|
Other1
|
-
|
898
|
1,103
|
-
|
(131)
|
-
|
Total
|
94,899
|
411,165
|
15,598
|
(24,536)
|
(419,197)
|
(5,681)
|
1
|
Other includes commercial real estate loans, fund and fund-linked
products, asset backed loans, physical commodities and investment
property.
|
Level 3 movement analysis
|
Purchases
|
Sales
|
Issues
|
Settle-
ments
|
Total gains and losses in the period recognised in the income
statement
|
Total gains or losses recognised in other comprehensive
income
|
Transfers
|
As at 30.06.18
|
|||
|
As at 01.01.181
|
Trading income
|
Other income
|
In
|
Out
|
||||||
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Government and government sponsored debt
|
49
|
11
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(35)
|
25
|
Corporate debt
|
871
|
35
|
(17)
|
-
|
(23)
|
6
|
-
|
-
|
15
|
(6)
|
881
|
Non-asset backed loans
|
166
|
2,239
|
(239)
|
-
|
-
|
2
|
-
|
-
|
11
|
(6)
|
2,173
|
Asset backed securities
|
627
|
100
|
(99)
|
-
|
-
|
(11)
|
-
|
-
|
5
|
(30)
|
592
|
Equity cash products
|
68
|
-
|
(7)
|
-
|
-
|
35
|
-
|
-
|
75
|
(52)
|
119
|
Other
|
196
|
4
|
(4)
|
-
|
(10)
|
(21)
|
-
|
-
|
24
|
(138)
|
51
|
Trading portfolio assets
|
1,977
|
2,389
|
(366)
|
-
|
(33)
|
11
|
-
|
-
|
130
|
(267)
|
3,841
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-asset backed loans
|
6,073
|
16
|
-
|
-
|
(510)
|
(8)
|
-
|
-
|
-
|
(4)
|
5,567
|
Equity cash products
|
8
|
11
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
19
|
Private equity investments
|
688
|
295
|
(37)
|
-
|
-
|
-
|
53
|
-
|
-
|
(14)
|
985
|
Other
|
750
|
2,359
|
(1,967)
|
-
|
-
|
4
|
110
|
-
|
-
|
-
|
1,256
|
Financial assets at fair value through the income
statement
|
7,519
|
2,681
|
(2,004)
|
-
|
(510)
|
(4)
|
163
|
-
|
-
|
(18)
|
7,827
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity cash products
|
36
|
-
|
(17)
|
-
|
-
|
-
|
-
|
-
|
-
|
(18)
|
1
|
Private equity investments
|
129
|
-
|
(12)
|
-
|
-
|
-
|
-
|
-
|
-
|
(14)
|
103
|
Other
|
40
|
-
|
(39)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
1
|
Financial assets at fair value through other comprehensive
income
|
205
|
-
|
(68)
|
-
|
-
|
-
|
-
|
-
|
-
|
(32)
|
105
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment property
|
116
|
-
|
(104)
|
-
|
(5)
|
-
|
4
|
-
|
-
|
-
|
11
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading portfolio liabilities
|
(4)
|
-
|
2
|
-
|
-
|
-
|
-
|
-
|
2
|
-
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit, commercial paper and other money market
instruments
|
(250)
|
-
|
202
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(48)
|
Issued debt
|
(214)
|
-
|
-
|
(4)
|
4
|
19
|
-
|
-
|
(219)
|
125
|
(289)
|
Other
|
(16)
|
-
|
16
|
-
|
2
|
-
|
(2)
|
-
|
-
|
-
|
-
|
Financial liabilities designated at fair value
|
(480)
|
-
|
218
|
(4)
|
6
|
19
|
(2)
|
-
|
(219)
|
125
|
(337)
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate derivatives
|
(150)
|
-
|
-
|
-
|
96
|
(46)
|
-
|
-
|
(343)
|
58
|
(385)
|
Foreign exchange derivatives
|
37
|
-
|
-
|
-
|
(17)
|
(30)
|
-
|
-
|
8
|
(18)
|
(20)
|
Credit derivatives
|
1,146
|
2
|
3
|
-
|
(15)
|
(210)
|
-
|
-
|
1
|
(2)
|
925
|
Equity derivatives
|
(896)
|
22
|
(431)
|
-
|
221
|
129
|
-
|
-
|
33
|
175
|
(747)
|
Commodity derivatives
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Net derivative financial
instruments2
|
137
|
24
|
(428)
|
-
|
285
|
(157)
|
-
|
-
|
(301)
|
213
|
(227)
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets and liabilities held for sale
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Total
|
9,470
|
5,094
|
(2,750)
|
(4)
|
(257)
|
(131)
|
165
|
-
|
(388)
|
21
|
11,220
|
|
|
|
|
|
|
|
|
|
|
|
|
Net liabilities held for sale measured at fair value on
non-recurring basis
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Total
|
9,470
|
5,094
|
(2,750)
|
(4)
|
(257)
|
(131)
|
165
|
-
|
(388)
|
21
|
11,220
|
1
|
Balances as at 1 January 2018 include the IFRS 9 transition impact.
Balances as at 31 December 2017 have been presented on an IAS 39
basis.
|
2
|
Derivative financial instruments are represented on a net basis. On
a gross basis, derivative financial assets were £5,066m and
derivative financial liabilities were £5,293m.
|
Level 3 movement analysis
|
Purchases
|
Sales
|
Settlements
|
Total gains and losses in the period recognised in the income
statement
|
Total gains or losses recognised in other comprehensive
income
|
Transfers
|
As at 30.06.17
|
|||
|
As at 01.01.17
|
Trading income
|
Other income
|
In
|
Out
|
|||||
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Government and government sponsored debt
|
3
|
37
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
40
|
Corporate debt
|
969
|
56
|
(71)
|
(2)
|
14
|
-
|
-
|
27
|
(30)
|
963
|
Non-asset backed loans
|
151
|
369
|
(87)
|
(21)
|
(2)
|
-
|
-
|
-
|
(7)
|
403
|
Asset backed securities
|
515
|
46
|
(69)
|
(9)
|
3
|
-
|
-
|
-
|
-
|
486
|
Equity cash products
|
77
|
32
|
(7)
|
-
|
(13)
|
-
|
-
|
2
|
-
|
91
|
Other
|
350
|
2
|
(40)
|
(24)
|
(7)
|
-
|
-
|
11
|
(30)
|
262
|
Trading portfolio assets
|
2,065
|
542
|
(274)
|
(56)
|
(5)
|
-
|
-
|
40
|
(67)
|
2,245
|
|
|
|
|
|
|
|
|
|
|
|
Non-asset backed loans
|
8,616
|
-
|
-
|
(1,706)
|
79
|
-
|
-
|
-
|
-
|
6,989
|
Private equity investments
|
562
|
31
|
(106)
|
-
|
(3)
|
36
|
-
|
28
|
(58)
|
490
|
Other
|
769
|
2,013
|
(1,265)
|
(59)
|
24
|
100
|
-
|
-
|
-
|
1,582
|
Financial assets at fair value through the income
statement
|
9,947
|
2,044
|
(1,371)
|
(1,765)
|
100
|
136
|
-
|
28
|
(58)
|
9,061
|
|
|
|
|
|
|
|
|
|
|
|
Equity cash products
|
73
|
-
|
-
|
-
|
-
|
2
|
1
|
6
|
(42)
|
40
|
Private equity investments
|
294
|
-
|
(45)
|
-
|
-
|
(2)
|
23
|
34
|
-
|
304
|
Other
|
5
|
-
|
(1)
|
(1)
|
-
|
-
|
1
|
-
|
-
|
4
|
Available for sale investments
|
372
|
-
|
(46)
|
(1)
|
-
|
-
|
25
|
40
|
(42)
|
348
|
|
|
|
|
|
|
|
|
|
|
|
Investment property
|
81
|
62
|
-
|
-
|
-
|
(2)
|
-
|
-
|
-
|
141
|
|
|
|
|
|
|
|
|
|
|
|
Trading portfolio liabilities
|
(7)
|
-
|
(4)
|
1
|
-
|
-
|
-
|
-
|
-
|
(10)
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit, commercial paper and other money market
instruments
|
(319)
|
-
|
-
|
-
|
-
|
1
|
-
|
(31)
|
92
|
(257)
|
Issued debt
|
(298)
|
-
|
-
|
71
|
-
|
-
|
-
|
-
|
-
|
(227)
|
Other
|
(223)
|
-
|
-
|
27
|
-
|
(3)
|
-
|
-
|
-
|
(199)
|
Financial liabilities designated at fair value
|
(840)
|
-
|
-
|
98
|
-
|
(2)
|
-
|
(31)
|
92
|
(683)
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate derivatives
|
899
|
27
|
12
|
15
|
(130)
|
-
|
-
|
419
|
(202)
|
1,040
|
Foreign exchange derivatives
|
81
|
-
|
-
|
(16)
|
2
|
5
|
-
|
(3)
|
(54)
|
15
|
Credit derivatives
|
1,370
|
-
|
3
|
(19)
|
(263)
|
-
|
-
|
(71)
|
-
|
1,020
|
Equity derivatives
|
(970)
|
67
|
(222)
|
11
|
78
|
-
|
-
|
(45)
|
(1)
|
(1,082)
|
Commodity derivatives
|
(5)
|
-
|
-
|
-
|
3
|
-
|
-
|
-
|
7
|
5
|
Net derivative financial
instruments1
|
1,375
|
94
|
(207)
|
(9)
|
(310)
|
5
|
-
|
300
|
(250)
|
998
|
|
|
|
|
|
|
|
|
|
|
|
Assets and liabilities held for sale
|
574
|
-
|
(574)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Total
|
13,567
|
2,742
|
(2,476)
|
(1,732)
|
(215)
|
137
|
25
|
377
|
(325)
|
12,100
|
|
|
|
|
|
|
|
|
|
|
|
Net liabilities held for sale measured at fair value on
non-recurring basis
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,339)
|
Total
|
|
|
|
|
|
|
|
|
|
10,761
|
1
|
Derivative financial instruments are represented on a net basis. On
a gross basis, derivative financial assets were £7,872m and
derivative financial liabilities were £6,874m.
|
|
Income statement
|
Other comprehensive income
|
Total
|
|
|
Trading income
|
Other income
|
||
Half year ended 30.06.18
|
£m
|
£m
|
£m
|
£m
|
Trading portfolio assets
|
(3)
|
-
|
-
|
(3)
|
Financial assets at fair value through the income
statement
|
(5)
|
116
|
-
|
111
|
Financial liabilities designated at fair value
|
18
|
-
|
-
|
18
|
Net derivative financial instruments
|
(155)
|
-
|
-
|
(155)
|
Total
|
(145)
|
116
|
-
|
(29)
|
|
|
|
|
|
Half year ended 30.06.17
|
|
|
|
|
Trading portfolio assets
|
(25)
|
-
|
-
|
(25)
|
Financial assets at fair value through the income
statement
|
73
|
102
|
-
|
175
|
Available for sale investments
|
-
|
-
|
25
|
25
|
Financial liabilities designated at fair value
|
45
|
(2)
|
-
|
43
|
Net derivative financial instruments
|
(305)
|
-
|
-
|
(305)
|
Total
|
(212)
|
100
|
25
|
(87)
|
Sensitivity analysis of valuations using unobservable
inputs
|
|
|
|
|
|
Favourable changes
|
Unfavourable changes
|
||
|
Income
statement
|
Equity
|
Income
statement
|
Equity
|
As at 30.06.18
|
£m
|
£m
|
£m
|
£m
|
Interest rate derivatives
|
139
|
-
|
(201)
|
-
|
Foreign exchange derivatives
|
9
|
-
|
(14)
|
-
|
Credit derivatives
|
132
|
-
|
(78)
|
-
|
Equity derivatives
|
96
|
-
|
(97)
|
-
|
Commodity derivatives
|
1
|
-
|
(1)
|
-
|
Corporate debt
|
4
|
-
|
(4)
|
-
|
Non-asset backed loans
|
158
|
-
|
(473)
|
-
|
Asset backed securities
|
-
|
-
|
-
|
-
|
Equity cash products
|
93
|
-
|
(166)
|
-
|
Private equity investments
|
157
|
-
|
(172)
|
-
|
Other1
|
2
|
-
|
(2)
|
-
|
Total
|
791
|
-
|
(1,208)
|
-
|
|
|
|
|
|
As at 31.12.17
|
|
|
|
|
Interest rate derivatives
|
114
|
-
|
(138)
|
-
|
Foreign exchange derivatives
|
6
|
-
|
(6)
|
-
|
Credit derivatives
|
106
|
-
|
(79)
|
-
|
Equity derivatives
|
99
|
-
|
(99)
|
-
|
Commodity derivatives
|
3
|
-
|
(3)
|
-
|
Corporate debt
|
4
|
-
|
(3)
|
-
|
Non-asset backed loans
|
243
|
-
|
(468)
|
-
|
Asset backed securities
|
1
|
-
|
-
|
-
|
Equity cash products
|
12
|
24
|
(8)
|
(24)
|
Private equity investments
|
133
|
13
|
(138)
|
(13)
|
Other1
|
5
|
-
|
(5)
|
-
|
Total
|
726
|
37
|
(947)
|
(37)
|
1
|
Other includes commercial real estate loans, fund and fund-linked
products, asset backed loans, physical commodities and investment
property.
|
|
As at
|
As at
|
|
30.06.18
|
31.12.17
|
|
£m
|
£m
|
Exit price adjustments derived from market bid-offer
spreads
|
(402)
|
(391)
|
Uncollateralised derivative funding
|
(38)
|
(45)
|
Derivative credit valuation adjustments
|
(123)
|
(103)
|
Derivative debit valuation adjustments
|
184
|
131
|
●
|
Exit
price adjustments have increased £11m to £402m as a
result of movements in market bid offer spreads
|
●
|
Uncollateralised
derivative funding decreased £7m to £38m as a result
of changes in underlying derivative
exposures
|
●
|
Credit
Valuation Adjustments (CVA) increased £20m to £123m as
a result of widening in counterparty credit spreads
|
●
|
Debit
Valuation Adjustments (DVA) increased £53m to
£184m as a result of
widening in Barclays’ credit spreads
|
|
As at 30.06.18
|
|
|
Carrying amount
|
Fair value
|
Financial assets
|
£m
|
£m
|
Cash collateral and settlement balances
|
94,186
|
94,186
|
Loans and advances at amortised cost
|
|
|
- Home loans
|
148,597
|
146,829
|
- Credit cards, unsecured loans and other retail
lending
|
51,866
|
54,428
|
- Finance lease receivables
|
3,120
|
3,222
|
- Corporate loans
|
117,384
|
115,017
|
Reverse repurchase agreements and other similar secured
lending
|
694
|
694
|
|
|
|
Financial liabilities
|
|
|
Deposits at amortised cost
|
|
|
- Banks
|
(15,622)
|
(15,622)
|
- Current and demand accounts
|
(143,885)
|
(143,885)
|
- Savings accounts
|
(135,760)
|
(135,776)
|
- Other time deposits
|
(91,184)
|
(91,202)
|
Cash collateral and settlement balances
|
(85,254)
|
(85,254)
|
Repurchase agreements and other similar secured
borrowing
|
(20,865)
|
(20,865)
|
Debt securities in issue
|
(78,404)
|
(79,006)
|
Subordinated liabilities
|
(20,095)
|
(20,979)
|
|
|
|
|
As at 31.12.17
|
|
|
Carrying amount
|
Fair value
|
Financial assets
|
£m
|
£m
|
Cash collateral and settlement balances
|
77,169
|
77,169
|
Loans and advances at amortised cost
|
|
|
- Home loans
|
147,002
|
145,262
|
- Credit cards, unsecured loans and other retail
lending
|
55,767
|
55,106
|
- Finance lease receivables
|
2,854
|
2,964
|
- Corporate loans1
|
123,532
|
121,666
|
Reverse repurchase agreements and other similar secured
lending
|
12,546
|
12,546
|
Assets included in disposal groups classified as held for
sale
|
1,164
|
1,195
|
Financial liabilities
|
|
|
Deposits at amortised cost
|
|
|
- Banks
|
(12,153)
|
(12,159)
|
- Current and demand accounts
|
(145,950)
|
(145,927)
|
- Savings accounts
|
(134,339)
|
(134,369)
|
- Other time deposits
|
(106,259)
|
(106,324)
|
Cash collateral and settlement balances
|
(68,143)
|
(68,143)
|
Repurchase agreements and other similar secured
borrowing
|
(40,338)
|
(40,338)
|
Debt securities in issue
|
(73,314)
|
(74,752)
|
Subordinated liabilities
|
(23,826)
|
(25,084)
|
1
|
Corporate loans as at 31 December 2017 include a held to maturity
balance of £5.1bn.
|
12. Subordinated liabilities
|
||
|
Half year ended
|
Year ended
|
|
30.06.18
|
31.12.17
|
|
£m
|
£m
|
Opening balance as at 1 January
|
23,826
|
23,383
|
Issuances
|
-
|
3,041
|
Redemptions
|
(3,075)
|
(1,378)
|
Other
|
(656)
|
(1,220)
|
Closing balance
|
20,095
|
23,826
|
13. Provisions
|
As at
|
As at
|
30.06.18
|
31.12.17
|
|
|
£m
|
£m
|
Payment Protection Insurance redress
|
1,374
|
1,606
|
Other customer redress
|
566
|
639
|
Legal, competition and regulatory matters
|
467
|
435
|
Redundancy and restructuring
|
121
|
159
|
Undrawn contractually committed facilities and
guarantees1
|
289
|
79
|
Onerous contracts
|
129
|
225
|
Sundry provisions
|
343
|
400
|
Total
|
3,289
|
3,543
|
●
|
Customer
initiated claim volumes – claims received but not yet
processed plus an estimate of future claims initiated by customers,
where the volume is anticipated to cease after the PPI
deadline
|
●
|
Average
claim redress – the expected average payment to customers for
upheld claims based on the type and age of the
policy/policies
|
●
|
Processing
cost per claim – the cost to Barclays of assessing and
processing each valid claim
|
Assumption
|
Cumulative
actual to
30.06.18
|
Future
expected
policy claims
|
Sensitivity analysis
increase/decrease
in provision
|
|
Customer
initiated claims received and processed2
(thousands)
|
2,300
|
480
|
50k =
£116m
|
|
Average
uphold rate per claim3 (%)
|
89
|
90
|
1% =
£10m
|
|
Average
redress per valid claim4
(£)
|
2,130
|
2,181
|
£100
= £43m
|
|
1
|
The balance as at 30 June 2018 includes IFRS 9 ECLs on committed
facilities and guarantees.
|
2
|
Total mis-selling claims received directly by Barclays to date,
including those received via CMCs but excluding those for which no
PPI policy exists and excluding responses to proactive mailing. The
sensitivity analysis has been calculated to show the impact a
50,000 increase or decrease in the number of customer initiated
mis-selling policy claims would have on the provision level
inclusive of operational processing costs.
|
3
|
Average uphold rate per customer initiated mis-selling claims
received directly by Barclays and proactive mailings, excluding
those for which no PPI policy exists. The sensitivity analysis has
been calculated to show the impact a 1% change in the average
uphold rate per claim would have on the provision
level.
|
4
|
Average redress stated on a per policy basis for future customer
initiated mis-selling complaints received directly by Barclays. The
sensitivity analysis has been calculated to show the impact a
£100 increase or decrease in the average redress per claim
would have on the provision level.
|
Half year ended 30.06.18
|
Ordinary share capital
£m
|
Share premium
£m
|
Total share capital and share premium
£m
|
Opening balance
|
4,265
|
17,780
|
22,045
|
Movement
|
13
|
86
|
99
|
Closing balance
|
4,278
|
17,866
|
22,144
|
17. Other reserves
|
|
|
|
As at
|
As at
|
|
30.06.18
|
31.12.17
|
|
£m
|
£m
|
Currency translation reserve
|
3,392
|
3,054
|
Available for sale reserve
|
-
|
364
|
Fair value through other comprehensive income reserve
|
(228)
|
-
|
Cash flow hedging reserve
|
652
|
1,161
|
Own credit reserve
|
(252)
|
(179)
|
Other reserves and treasury shares
|
968
|
983
|
Total
|
4,532
|
5,383
|
18. Contingent liabilities and commitments
|
|
|
|
As at
|
As at
|
|
30.06.18
|
31.12.17
|
Contingent liabilities
|
£m
|
£m
|
Guarantees and letters of credit pledged as collateral
security
|
14,844
|
14,275
|
Performance guarantees, acceptances and endorsements
|
4,479
|
4,737
|
Total
|
19,323
|
19,012
|
|
|
|
Commitments
|
|
|
Documentary credits and other short-term trade related
transactions
|
1,055
|
812
|
Standby facilities, credit lines and other commitments
|
312,161
|
314,761
|
Total
|
313,216
|
315,573
|
1.
|
Barclays PLC and Barclays Bank PLC
|
●
|
sponsoring
and underwriting of approximately $39bn of private-label
securitisations;
|
●
|
economic
underwriting exposure of approximately $34bn for other
private-label securitisations;
|
●
|
sales
of approximately $0.2bn of loans to government sponsored
enterprises (GSEs);
|
●
|
sales
of approximately $3bn of loans to others; and
|
●
|
sales
of approximately $19.4bn of loans (net of approximately $500m of
loans sold during this period and subsequently repurchased) that
were originated and sold to third parties by mortgage originator
affiliates of an entity that Barclays acquired in 2007 (Acquired
Subsidiary)
|
●
|
approximately
$5bn of Barclays sponsored securitisations;
|
●
|
approximately
$0.2bn of sales of loans to GSEs; and
|
●
|
approximately
$3bn of loans sold to others
|
2.
|
Barclays PLC, Barclays Bank PLC and Barclays Bank UK
PLC
|
3.
|
Barclays PLC and Barclays Bank UK PLC
|
Reconciliation of impairment allowance and provisions
|
|
|
|
|
|
As at 31.12.17
|
|
|
As at 01.01.18
|
|
Impairment allowance under IAS 39 or provisions under IAS
37
|
Reclassification impact
|
Additional IFRS 9 impairment allowance
|
Impairment allowance under IFRS 9
|
|
£m
|
£m
|
£m
|
£m
|
Loans and advances at amortised cost and other
assets1
|
4,652
|
(52)
|
2,508
|
7,108
|
Available for sale investments/financial assets at fair value
through other comprehensive income
|
38
|
(38)
|
3
|
3
|
Total on-balance sheet
|
4,690
|
(90)
|
2,511
|
7,111
|
|
|
|
|
|
Provision for undrawn contractually committed facilities and
guarantee contracts
|
79
|
-
|
341
|
420
|
Total impairment and provision
|
4,769
|
(90)
|
2,852
|
7,531
|
1
|
Includes impairment of £5m for cash collateral and settlement
balances and £1m for other assets.
|
●
|
The
introduction of IFRS 9 has increased the total impairment allowance
held by Barclays by £2.8bn, from £4.8bn as at 31 December
2017 to £7.5bn as at 1 January 2018, as a result of earlier
recognition of impairment allowances
|
●
|
The
reclassification impact is due to assets moving to a fair value
through income statement treatment that do not have an impairment
allowance under IFRS 9
|
Balance sheet movement – impact of transition to IFRS 9 and
IFRS 15
|
||||||||
The table below presents the impact of the changes to balance sheet
presentation and of the transition to IFRS 9 and IFRS 15 on
Barclays PLC’s balance sheet showing separately the changes
arising from reclassification and any associated remeasurement, and
the impact of increased impairment.
|
||||||||
|
|
|
|
|
|
|
|
|
|
As at 31.12.17
|
|
As at 31.12.17
|
|
|
|
|
As at 01.01.18
|
|
Published IAS 39 carrying amount
|
Balance sheet presentation
changes1
|
Revised IAS 39 carrying amount
|
IFRS 15 impact1
|
IFRS 9 presentation
changes1
|
IFRS 9 classification and measurement
|
IFRS 9 impairment change
|
IFRS 9 carrying amount
|
|
||||||||
Assets
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Cash and balances at central banks
|
171,082
|
-
|
171,082
|
-
|
-
|
-
|
-
|
171,082
|
Items in the course of collection from other banks
|
2,153
|
(2,153)
|
-
|
-
|
-
|
-
|
-
|
-
|
Loans and advances to banks
|
35,663
|
(35,663)
|
-
|
-
|
-
|
-
|
-
|
-
|
Loans and advances to customers
|
365,552
|
(365,552)
|
-
|
-
|
-
|
-
|
-
|
-
|
Cash collateral and settlement balances
|
-
|
77,168
|
77,168
|
-
|
-
|
(2,389)
|
(5)
|
74,774
|
Loans and advances at amortised cost
|
-
|
324,048
|
324,048
|
-
|
5,109
|
(9,467)
|
(2,502)
|
317,188
|
Reverse repurchase agreements and other similar secured
lending
|
12,546
|
-
|
12,546
|
-
|
-
|
(11,949)
|
-
|
597
|
Trading portfolio assets
|
113,760
|
-
|
113,760
|
-
|
-
|
413
|
-
|
114,173
|
Financial assets designated at fair value
|
116,281
|
(116,281)
|
-
|
-
|
-
|
-
|
-
|
-
|
Financial assets at fair value through the income
statement2
|
-
|
116,281
|
116,281
|
-
|
-
|
23,930
|
-
|
140,211
|
Derivative financial instruments
|
237,669
|
-
|
237,669
|
-
|
-
|
-
|
-
|
237,669
|
Financial investments
|
58,916
|
(1)
|
58,915
|
-
|
(57,414)
|
(1,501)
|
-
|
-
|
Financial assets at fair value through other comprehensive
income
|
-
|
|
-
|
-
|
52,305
|
936
|
-
|
53,241
|
Investments in associates and joint ventures
|
718
|
-
|
718
|
-
|
-
|
(19)
|
-
|
699
|
Goodwill and intangible assets
|
7,849
|
-
|
7,849
|
-
|
-
|
-
|
-
|
7,849
|
Property, plant and equipment
|
2,572
|
-
|
2,572
|
-
|
-
|
-
|
-
|
2,572
|
Current tax assets
|
482
|
-
|
482
|
-
|
-
|
-
|
-
|
482
|
Deferred tax assets
|
3,457
|
-
|
3,457
|
(22)
|
-
|
-
|
649
|
4,084
|
Retirement benefit assets
|
966
|
-
|
966
|
-
|
-
|
-
|
-
|
966
|
Prepayments, accrued income and other assets
|
2,389
|
(2,389)
|
-
|
-
|
-
|
-
|
-
|
-
|
Other assets
|
-
|
4,542
|
4,542
|
89
|
-
|
31
|
(1)
|
4,661
|
Assets included in disposal groups classified as held for
sale
|
1,193
|
-
|
1,193
|
-
|
-
|
-
|
-
|
1,193
|
Total assets
|
1,133,248
|
-
|
1,133,248
|
67
|
-
|
(15)
|
(1,859)
|
1,131,441
|
1
|
For further details, refer to Note 1, Basis of preparation on pages
55 to 60.
|
2
|
Comprised of mandatory fair value assets of £130.2bn and
designated fair value assets of £10.0bn.
|
|
As at 31.12.17
|
|
As at 31.12.17
|
|
|
|
|
As at 01.01.18
|
|
Published IAS 39 carrying amount
|
Balance sheet presentation
changes1
|
Revised IAS 39 carrying amount
|
IFRS 15 impact1
|
IFRS 9 presentation changes
|
IFRS 9 classification and measurement
|
IFRS 9 impairment change
|
IFRS 9 carrying amount
|
|
||||||||
Liabilities
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Deposits from banks
|
37,723
|
(37,723)
|
-
|
-
|
-
|
-
|
-
|
-
|
Deposits at amortised cost
|
-
|
398,701
|
398,701
|
-
|
-
|
(18,860)
|
-
|
379,841
|
Items in the course of collection due to other banks
|
446
|
(446)
|
-
|
-
|
-
|
-
|
-
|
-
|
Customer accounts
|
429,121
|
(429,121)
|
-
|
-
|
-
|
-
|
-
|
-
|
Cash collateral and settlement balances
|
-
|
68,143
|
68,143
|
-
|
-
|
(2,218)
|
-
|
65,925
|
Repurchase agreements and other similar secured
borrowing
|
40,338
|
-
|
40,338
|
-
|
-
|
(25,285)
|
-
|
15,053
|
Debt securities in issue
|
73,314
|
-
|
73,314
|
-
|
-
|
-
|
-
|
73,314
|
Subordinated liabilities
|
23,826
|
-
|
23,826
|
-
|
-
|
-
|
-
|
23,826
|
Trading portfolio liabilities
|
37,351
|
-
|
37,351
|
-
|
-
|
-
|
-
|
37,351
|
Financial liabilities designated at fair value
|
173,718
|
-
|
173,718
|
-
|
-
|
46,365
|
-
|
220,083
|
Derivative financial instruments
|
238,345
|
-
|
238,345
|
-
|
-
|
-
|
-
|
238,345
|
Current tax liabilities
|
586
|
-
|
586
|
-
|
-
|
-
|
-
|
586
|
Deferred tax liabilities
|
44
|
-
|
44
|
-
|
-
|
-
|
-
|
44
|
Retirement benefit liabilities
|
312
|
-
|
312
|
-
|
-
|
-
|
-
|
312
|
Accruals, deferred income and other liabilities
|
8,565
|
(8,565)
|
-
|
-
|
-
|
-
|
-
|
-
|
Other liabilities
|
-
|
9,011
|
9,011
|
-
|
-
|
-
|
-
|
9,011
|
Provisions
|
3,543
|
-
|
3,543
|
-
|
-
|
-
|
341
|
3,884
|
Total liabilities
|
1,067,232
|
-
|
1,067,232
|
-
|
-
|
2
|
341
|
1,067,575
|
|
|
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
|
|
|
Called up share capital and share premium
|
22,045
|
-
|
22,045
|
-
|
-
|
-
|
-
|
22,045
|
Other reserves
|
5,383
|
-
|
5,383
|
-
|
-
|
(139)
|
3
|
5,247
|
Retained earnings
|
27,536
|
-
|
27,536
|
67
|
-
|
122
|
(2,203)
|
25,522
|
Other equity instruments
|
8,941
|
-
|
8,941
|
-
|
-
|
-
|
-
|
8,941
|
Total equity excluding non-controlling interests
|
63,905
|
-
|
63,905
|
67
|
-
|
(17)
|
(2,200)
|
61,755
|
Non-controlling interests
|
2,111
|
-
|
2,111
|
-
|
-
|
-
|
-
|
2,111
|
Total equity
|
66,016
|
-
|
66,016
|
67
|
-
|
(17)
|
(2,200)
|
63,866
|
|
|
|
|
|
|
|
|
|
Total liabilities and equity
|
1,133,248
|
-
|
1,133,248
|
67
|
-
|
(15)
|
(1,859)
|
1,131,441
|
1
|
For further details, refer to Note 1, Basis of
preparation on pages 55 to 60.
|
|
As at
|
As at
|
|
30.06.18
|
31.12.17
|
Assets
|
£m
|
£m
|
Investment in subsidiaries
|
55,379
|
39,354
|
Loans and advances to subsidiaries
|
27,776
|
23,970
|
Financial assets at fair value through the income
statement
|
4,615
|
4,782
|
Derivative financial instruments
|
115
|
161
|
Other assets
|
376
|
202
|
Total assets
|
88,261
|
68,469
|
|
|
|
Liabilities
|
|
|
Deposits at amortised cost
|
525
|
500
|
Subordinated liabilities
|
6,606
|
6,501
|
Debt securities in issue
|
27,883
|
22,110
|
Other liabilities
|
116
|
153
|
Total liabilities
|
35,130
|
29,264
|
|
|
|
Equity
|
|
|
Called up share capital
|
4,278
|
4,265
|
Share premium account
|
17,866
|
17,780
|
Other equity instruments
|
8,943
|
8,943
|
Other reserves
|
394
|
480
|
Retained earnings
|
21,650
|
7,737
|
Total equity
|
53,131
|
39,205
|
|
|
|
Total liabilities and equity
|
88,261
|
68,469
|
Measure
|
Definition
|
Loan:
deposit ratio
|
Loans
and advances at amortised cost divided by deposits at amortised
cost. The components of the calculation have been included on page
36.
|
Period
end allocated tangible equity
|
Allocated tangible
equity is calculated as 13.0% (2017: 12.0%) of RWAs for each
business, adjusted for capital deductions, excluding goodwill and
intangible assets, reflecting the assumptions the Barclays Group
uses for capital planning purposes. Head Office allocated tangible
equity represents the difference between the Barclays Group’s
tangible shareholders’ equity and the amounts allocated to
businesses.
|
Average
tangible shareholders’ equity
|
Calculated as the
average of the previous month’s period end tangible equity
and the current month’s period end tangible equity. The
average tangible shareholders’ equity for the period is the
average of the monthly averages within that period.
|
Average
allocated tangible equity
|
Calculated as the
average of the previous month’s period end allocated tangible
equity and the current month’s period end allocated tangible
equity. The average allocated tangible equity for the period is the
average of the monthly averages within that period.
|
Return
on average tangible shareholders’ equity
|
Annualised profit
after tax attributable to ordinary equity holders of the parent,
including an adjustment for the tax credit in reserves in respect
of other equity instruments, as a proportion of average
shareholders’ equity excluding non-controlling interests and
other equity instruments adjusted for the deduction of intangible
assets and goodwill. The components of the calculation have been
included on page 95.
|
Return
on average allocated tangible equity
|
Annualised profit
after tax attributable to ordinary equity holders of the parent,
including an adjustment for the tax credit in reserves in respect
of other equity instruments, as a proportion of average allocated
tangible equity. The components of the calculation have been
included on page 95.
|
Cost:
income ratio
|
Operating expenses
divided by total income.
|
Loan
loss rate
|
Quoted
in basis points and represents total annualised impairment charges
divided by gross loans and advances held at amortised cost at the
balance sheet date. The components of the calculation have been
included on page 27.
|
Net
interest margin
|
Annualised net
interest income divided by the sum of average customer assets. The
components of the calculation have been included on page
25.
|
Tangible net asset
value per share
|
Calculated by
dividing shareholders’ equity, excluding non-controlling
interests and other equity instruments, less goodwill and
intangible assets, by the number of issued ordinary shares. The
components of the calculation have been included on page
102.
|
Performance
measures excluding litigation and conduct
|
Calculated by
excluding litigation and conduct charges from performance measures.
The components of the calculations have been included on pages 96
to 102.
|
|
Attributable profit/(loss)
|
Tax credit in respect of interest payments on other equity
instruments
|
Profit/(loss) attributable to ordinary equity holders of the
parent
|
|
Average tangible equity
|
|
Return on average tangible equity
|
Half year ended 30.06.18
|
£m
|
£m
|
£m
|
|
£bn
|
|
%
|
Barclays UK
|
426
|
21
|
447
|
|
10.0
|
|
9.0
|
Corporate and Investment Bank
|
1,372
|
62
|
1,434
|
|
26.0
|
|
11.0
|
Consumer, Cards and Payments
|
491
|
8
|
499
|
|
4.7
|
|
21.2
|
Barclays International
|
1,863
|
70
|
1,933
|
|
30.7
|
|
12.6
|
Head Office
|
(1,821)
|
2
|
(1,819)
|
|
3.1
|
|
n/m
|
Barclays Group
|
468
|
93
|
561
|
|
43.8
|
|
2.6
|
|
|
|
|
|
|
|
|
Half year ended 30.06.17
|
|
|
|
|
|
|
|
Barclays UK
|
185
|
18
|
203
|
|
8.8
|
|
4.6
|
Corporate and Investment Bank
|
1,083
|
45
|
1,128
|
|
23.3
|
|
9.7
|
Consumer, Cards and Payments
|
573
|
9
|
582
|
|
4.2
|
|
28.0
|
Barclays International
|
1,656
|
54
|
1,710
|
|
27.5
|
|
12.4
|
Head Office1
|
(298)
|
-
|
(298)
|
|
8.2
|
|
n/m
|
Barclays Non-Core
|
(419)
|
10
|
(409)
|
|
4.9
|
|
n/m
|
Africa Banking discontinued operation1
|
(2,335)
|
-
|
(2,335)
|
|
n/m
|
|
n/m
|
Barclays Group
|
(1,211)
|
82
|
(1,129)
|
|
49.4
|
|
(4.6)
|
1
|
Average allocated tangible equity for Africa Banking is included
within Head Office.
|
Performance measures excluding litigation and conduct
|
||||||
|
|
|
|
|
|
|
|
Half year ended 30.06.18
|
|||||
|
Barclays UK
|
Corporate and Investment Bank
|
Consumer, Cards and Payments
|
Barclays International
|
Head Office
|
Barclays Group
|
Cost: income ratio
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Operating expenses
|
(2,387)
|
(3,559)
|
(1,109)
|
(4,668)
|
(1,661)
|
(8,716)
|
Impact of litigation and conduct
|
414
|
13
|
49
|
62
|
1,566
|
2,042
|
Operating expenses excluding litigation and conduct
|
(1,973)
|
(3,546)
|
(1,060)
|
(4,606)
|
(95)
|
(6,674)
|
|
|
|
|
|
|
|
Total income
|
3,624
|
5,379
|
2,136
|
7,515
|
(205)
|
10,934
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
54%
|
66%
|
50%
|
61%
|
n/m
|
61%
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
Profit/(loss) before tax
|
826
|
2,010
|
700
|
2,710
|
(1,877)
|
1,659
|
Impact of litigation and conduct
|
414
|
13
|
49
|
62
|
1,566
|
2,042
|
Profit/(loss) before tax excluding litigation and
conduct
|
1,240
|
2,023
|
749
|
2,772
|
(311)
|
3,701
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
Attributable profit/(loss)
|
426
|
1,372
|
491
|
1,863
|
(1,821)
|
468
|
Post-tax impact of litigation and conduct
|
412
|
10
|
36
|
46
|
1,531
|
1,989
|
Attributable profit/(loss) excluding litigation and
conduct
|
838
|
1,382
|
527
|
1,909
|
(290)
|
2,457
|
Tax credit in respect of interest payments on other equity
instruments
|
21
|
62
|
8
|
70
|
2
|
93
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
859
|
1,444
|
535
|
1,979
|
(288)
|
2,550
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
|
|
|
|
|
|
Average tangible shareholders' equity (£bn)
|
10.0
|
26.0
|
4.7
|
30.7
|
3.1
|
43.8
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity excluding
litigation and conduct
|
17.3%
|
11.1%
|
22.7%
|
12.9%
|
n/m
|
11.6%
|
|
|
|
|
|
|
|
Basic earnings per ordinary share
|
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
|
|
|
|
|
17,067
|
|
|
|
|
|
|
|
Basic earnings per ordinary share excluding litigation and
conduct
|
|
|
|
|
|
14.9p
|
|
Half year ended 30.06.17
|
|||||
|
Barclays UK
|
Corporate and Investment Bank
|
Consumer, Cards and Payments
|
Barclays International
|
Head Office
|
Barclays Group1
|
Cost: income ratio
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Operating expenses
|
(2,628)
|
(3,697)
|
(1,023)
|
(4,720)
|
(100)
|
(7,732)
|
Impact of litigation and conduct
|
695
|
7
|
2
|
9
|
11
|
743
|
Operating expenses excluding litigation and conduct
|
(1,933)
|
(3,690)
|
(1,021)
|
(4,711)
|
(89)
|
(6,989)
|
|
|
|
|
|
|
|
Total income
|
3,661
|
5,346
|
2,402
|
7,748
|
2
|
10,881
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
53%
|
69%
|
43%
|
61%
|
n/m
|
64%
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
Profit/(loss) before tax
|
634
|
1,715
|
902
|
2,617
|
(263)
|
2,341
|
Impact of litigation and conduct
|
695
|
7
|
2
|
9
|
11
|
743
|
Profit/(loss) before tax excluding litigation and
conduct
|
1,329
|
1,722
|
904
|
2,626
|
(252)
|
3,084
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
Attributable profit/(loss)
|
185
|
1,083
|
573
|
1,656
|
(298)
|
(1,211)
|
Post-tax impact of litigation and conduct
|
688
|
5
|
1
|
6
|
8
|
722
|
Attributable profit/(loss) excluding litigation and
conduct
|
873
|
1,088
|
574
|
1,662
|
(290)
|
(489)
|
Tax credit in respect of interest payments on other equity
instruments
|
18
|
45
|
9
|
54
|
-
|
82
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
891
|
1,133
|
583
|
1,716
|
(290)
|
(407)
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
|
|
|
|
|
|
Average tangible shareholders' equity (£bn)
|
8.8
|
23.3
|
4.2
|
27.5
|
8.2
|
49.4
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity excluding
litigation and conduct
|
20.3%
|
9.7%
|
28.0%
|
12.5%
|
n/m
|
(1.6%)
|
|
|
|
|
|
|
|
Basic earnings per ordinary share
|
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
|
|
|
|
|
16,989
|
|
|
|
|
|
|
|
Basic loss per ordinary share excluding litigation and
conduct
|
|
|
|
|
|
(2.4p)
|
1
|
Barclays Group results also included Barclays Non-Core and the
Africa Banking discontinued operation for the half year ended 30
June 2017.
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Q416
|
Q316
|
Cost: income ratio
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Operating expenses
|
(3,391)
|
(5,325)
|
|
(4,369)
|
(3,355)
|
(4,113)
|
(3,619)
|
|
(4,319)
|
(4,322)
|
Impact of litigation and conduct
|
81
|
1,961
|
|
383
|
81
|
715
|
28
|
|
97
|
741
|
Operating expenses excluding litigation and conduct
|
(3,310)
|
(3,364)
|
|
(3,986)
|
(3,274)
|
(3,398)
|
(3,591)
|
|
(4,222)
|
(3,581)
|
|
|
|
|
|
|
|
|
|
|
|
Total income
|
5,576
|
5,358
|
|
5,022
|
5,173
|
5,058
|
5,823
|
|
4,992
|
5,446
|
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
59%
|
63%
|
|
79%
|
63%
|
67%
|
62%
|
|
85%
|
66%
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) before tax
|
1,895
|
(236)
|
|
93
|
1,107
|
659
|
1,682
|
|
330
|
837
|
Impact of litigation and conduct
|
81
|
1,961
|
|
383
|
81
|
715
|
28
|
|
97
|
741
|
Profit before tax excluding litigation and conduct
|
1,976
|
1,725
|
|
476
|
1,188
|
1,374
|
1,710
|
|
427
|
1,578
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
1,232
|
(764)
|
|
(1,294)
|
583
|
(1,401)
|
190
|
|
99
|
414
|
Post-tax impact of litigation and conduct
|
59
|
1,930
|
|
351
|
77
|
703
|
19
|
|
52
|
726
|
Attributable profit/(loss) excluding litigation and
conduct
|
1,291
|
1,166
|
|
(943)
|
660
|
(698)
|
209
|
|
151
|
1,140
|
Tax credit in respect of interest payments on other equity
instruments
|
47
|
46
|
|
49
|
43
|
44
|
38
|
|
39
|
31
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
1,338
|
1,212
|
|
(894)
|
703
|
(654)
|
247
|
|
190
|
1,171
|
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
|
|
|
|
|
|
|
|
|
|
Average tangible shareholders' equity (£bn)
|
43.5
|
44.2
|
|
48.1
|
48.9
|
49.3
|
49.4
|
|
48.9
|
49.4
|
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity excluding
litigation and conduct
|
12.3%
|
11.0%
|
|
(7.4%)
|
5.7%
|
(5.3%)
|
2.0%
|
|
1.6%
|
9.5%
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per ordinary share
|
|
|
|
|
|
|
|
|
|
|
Basic weighted average number of shares (m)
|
17,067
|
17,037
|
|
16,996
|
16,994
|
16,989
|
16,924
|
|
16,860
|
16,866
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings/(loss) per ordinary share excluding litigation and
conduct
|
7.8p
|
7.1p
|
|
(5.3p)
|
4.1p
|
(3.8p)
|
1.5p
|
|
1.1p
|
6.9p
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Q416
|
Q316
|
Cost: income ratio
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Operating expenses
|
(971)
|
(1,416)
|
|
(1,229)
|
(991)
|
(1,673)
|
(955)
|
|
(1,065)
|
(1,518)
|
Impact of litigation and conduct
|
3
|
411
|
|
53
|
11
|
699
|
(4)
|
|
28
|
614
|
Operating expenses excluding litigation and conduct
|
(968)
|
(1,005)
|
|
(1,176)
|
(980)
|
(974)
|
(959)
|
|
(1,037)
|
(904)
|
|
|
|
|
|
|
|
|
|
|
|
Total income
|
1,836
|
1,788
|
|
1,870
|
1,852
|
1,820
|
1,841
|
|
1,828
|
1,943
|
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
53%
|
56%
|
|
63%
|
53%
|
54%
|
52%
|
|
57%
|
47%
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) before tax
|
656
|
170
|
|
452
|
661
|
(74)
|
708
|
|
583
|
75
|
Impact of litigation and conduct
|
3
|
411
|
|
53
|
11
|
699
|
(4)
|
|
28
|
614
|
Profit before tax excluding litigation and conduct
|
659
|
581
|
|
505
|
672
|
625
|
704
|
|
611
|
689
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
464
|
(38)
|
|
245
|
423
|
(285)
|
470
|
|
383
|
(163)
|
Post-tax impact of litigation and conduct
|
1
|
411
|
|
37
|
8
|
691
|
(3)
|
|
(3)
|
627
|
Attributable profit excluding litigation and conduct
|
465
|
373
|
|
282
|
431
|
406
|
467
|
|
380
|
464
|
Tax credit in respect of interest payments on other equity
instruments
|
9
|
12
|
|
13
|
9
|
9
|
9
|
|
7
|
7
|
Profit attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
474
|
385
|
|
295
|
440
|
415
|
476
|
|
387
|
471
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
|
|
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
10.1
|
9.8
|
|
9.6
|
9.4
|
8.7
|
8.9
|
|
8.6
|
8.7
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
18.8%
|
15.7%
|
|
12.3%
|
18.7%
|
19.1%
|
21.5%
|
|
18.0%
|
21.6%
|
Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Q416
|
Q316
|
Cost: income ratio
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Operating expenses
|
(2,353)
|
(2,315)
|
|
(2,948)
|
(2,187)
|
(2,272)
|
(2,448)
|
|
(2,798)
|
(2,354)
|
Impact of litigation and conduct
|
47
|
15
|
|
255
|
5
|
(4)
|
13
|
|
17
|
17
|
Operating expenses excluding litigation and conduct
|
(2,306)
|
(2,300)
|
|
(2,693)
|
(2,182)
|
(2,276)
|
(2,435)
|
|
(2,781)
|
(2,337)
|
|
|
|
|
|
|
|
|
|
|
|
Total income
|
3,707
|
3,808
|
|
3,319
|
3,315
|
3,610
|
4,138
|
|
3,592
|
3,851
|
|
|
|
|
|
|
|
|
|
|
|
Cost: income ratio excluding litigation and conduct
|
62%
|
60%
|
|
81%
|
66%
|
63%
|
59%
|
|
77%
|
61%
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
1,297
|
1,413
|
|
6
|
652
|
1,261
|
1,356
|
|
373
|
1,085
|
Impact of litigation and conduct
|
47
|
15
|
|
255
|
5
|
(4)
|
13
|
|
17
|
17
|
Profit before tax excluding litigation and conduct
|
1,344
|
1,428
|
|
261
|
657
|
1,257
|
1,369
|
|
390
|
1,102
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
890
|
973
|
|
(1,168)
|
359
|
819
|
837
|
|
43
|
623
|
Post-tax impact of litigation and conduct
|
34
|
12
|
|
250
|
4
|
(3)
|
9
|
|
14
|
17
|
Attributable profit/(loss) excluding litigation and
conduct
|
924
|
985
|
|
(918)
|
363
|
816
|
846
|
|
57
|
640
|
Tax credit in respect of interest payments on other equity
instruments
|
36
|
34
|
|
34
|
32
|
27
|
27
|
|
23
|
20
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
960
|
1,019
|
|
(884)
|
395
|
843
|
873
|
|
80
|
660
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
|
|
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
31.4
|
30.1
|
|
28.5
|
28.9
|
27.4
|
27.7
|
|
26.6
|
25.7
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
12.2%
|
13.6%
|
|
(12.4%)
|
5.5%
|
12.3%
|
12.6%
|
|
1.2%
|
10.3%
|
Corporate and Investment Bank
|
|
|
|
|
|
|
|
|
|
|
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Q416
|
Q316
|
Profit before tax
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
Profit/(loss) before tax
|
835
|
1,175
|
|
(252)
|
593
|
925
|
790
|
|
155
|
885
|
Impact of litigation and conduct
|
-
|
13
|
|
255
|
5
|
(4)
|
11
|
|
15
|
17
|
Profit before tax excluding litigation and conduct
|
835
|
1,188
|
|
3
|
598
|
921
|
801
|
|
170
|
902
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable profit/(loss)
|
567
|
805
|
|
(1,256)
|
340
|
623
|
460
|
|
(86)
|
488
|
Post-tax impact of litigation and conduct
|
-
|
10
|
|
250
|
4
|
(3)
|
8
|
|
13
|
17
|
Attributable profit/(loss) excluding litigation and
conduct
|
567
|
815
|
|
(1,006)
|
344
|
620
|
468
|
|
(73)
|
505
|
Tax credit in respect of interest payments on other equity
instruments
|
33
|
29
|
|
29
|
28
|
22
|
23
|
|
20
|
17
|
Profit/(loss) attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
600
|
844
|
|
(977)
|
372
|
642
|
491
|
|
(53)
|
522
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
|
|
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
26.4
|
25.6
|
|
24.3
|
24.8
|
23.3
|
23.5
|
|
22.6
|
21.9
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
9.1%
|
13.2%
|
|
(16.1%)
|
6.0%
|
11.1%
|
8.3%
|
|
(0.9%)
|
9.5%
|
Consumer, Cards and Payments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
462
|
238
|
|
258
|
59
|
336
|
566
|
|
218
|
200
|
Impact of litigation and conduct
|
47
|
2
|
|
-
|
-
|
-
|
2
|
|
2
|
-
|
Profit before tax excluding litigation and conduct
|
509
|
240
|
|
258
|
59
|
336
|
568
|
|
220
|
200
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable profit
|
323
|
168
|
|
88
|
19
|
196
|
377
|
|
129
|
135
|
Post-tax impact of litigation and conduct
|
34
|
2
|
|
-
|
-
|
-
|
1
|
|
1
|
-
|
Attributable profit excluding litigation and conduct
|
357
|
170
|
|
88
|
19
|
196
|
378
|
|
130
|
135
|
Tax credit in respect of interest payments on other equity
instruments
|
3
|
5
|
|
5
|
4
|
5
|
4
|
|
3
|
3
|
Profit attributable to ordinary equity holders of the parent
excluding litigation and conduct
|
360
|
175
|
|
93
|
23
|
201
|
382
|
|
133
|
138
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
|
|
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
5.0
|
4.5
|
|
4.2
|
4.2
|
4.1
|
4.2
|
|
4.0
|
3.7
|
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity excluding litigation
and conduct
|
28.9%
|
15.7%
|
|
9.0%
|
2.2%
|
19.4%
|
36.5%
|
|
13.3%
|
14.8%
|
Head Office
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Q416
|
Q316
|
Profit before tax
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
(Loss)/profit before tax
|
(58)
|
(1,819)
|
|
(365)
|
(206)
|
(122)
|
(141)
|
|
162
|
(229)
|
Impact of litigation and conduct
|
31
|
1,535
|
|
75
|
65
|
1
|
10
|
|
1
|
8
|
(Loss)/profit before tax excluding litigation and
conduct
|
(27)
|
(284)
|
|
(290)
|
(141)
|
(121)
|
(131)
|
|
163
|
(221)
|
|
|
|
|
|
|
|
|
|
|
|
Profit attributable to ordinary equity holders of the
parent
|
|
|
|
|
|
|
|
|
|
|
Attributable (loss)/profit
|
(122)
|
(1,699)
|
|
(371)
|
(199)
|
(175)
|
(123)
|
|
223
|
(203)
|
Post-tax impact of litigation and conduct
|
24
|
1,507
|
|
64
|
65
|
1
|
7
|
|
1
|
8
|
Attributable (loss)/profit excluding litigation and
conduct
|
(98)
|
(192)
|
|
(307)
|
(134)
|
(174)
|
(116)
|
|
224
|
(195)
|
Tangible net asset value
|
As at
|
As at
|
As at
|
30.06.18
|
31.12.17
|
30.06.17
|
|
|
£m
|
£m
|
£m
|
Total equity excluding non-controlling interests
|
61,055
|
63,905
|
63,866
|
Other equity instruments
|
(8,938)
|
(8,941)
|
(7,694)
|
Goodwill and intangibles
|
(7,871)
|
(7,849)
|
(7,724)
|
Tangible shareholders' equity excluding non-controlling interests
attributable to ordinary shareholders of the parent
|
44,246
|
47,115
|
48,448
|
|
|
|
|
|
m
|
m
|
m
|
Shares in issue
|
17,110
|
17,060
|
17,034
|
|
|
|
|
|
p
|
p
|
p
|
Tangible net asset value per share
|
259
|
276
|
284
|
Results timetable1
|
|
|
Date
|
|
|
Ex-dividend date
|
|
|
9 August 2018
|
||
Dividend record date
|
|
|
10 August 2018
|
||
Scrip reference share price set and made available to
shareholders
|
|
|
16 August 2018
|
||
Cut off time of 4.30 pm (UK time) for the receipt of Mandate Forms
or Revocation Forms (as applicable)
|
|
|
24 August 2018
|
||
Dividend payment date/first day of dealing in new
shares
|
|
|
17 September 2018
|
||
Q3 2018 Results Announcement
|
|
|
24 October 2018
|
||
|
|
|
|
|
|
For qualifying US and Canadian resident ADR holders, the interim
dividend of 2.5p per ordinary share becomes 10.0p per ADS
(representing four shares). The ex-dividend, dividend record and
dividend payment dates for ADR holders are as shown
above.
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% Change3
|
|||
Exchange rates2
|
30.06.18
|
31.12.17
|
30.06.17
|
31.12.17
|
30.06.17
|
Period end - USD/GBP
|
1.32
|
1.35
|
1.30
|
(2%)
|
2%
|
6 month average - USD/GBP
|
1.38
|
1.32
|
1.26
|
5%
|
10%
|
3 month average - USD/GBP
|
1.36
|
1.33
|
1.28
|
2%
|
6%
|
Period end - EUR/GBP
|
1.13
|
1.13
|
1.14
|
-
|
(1%)
|
6 month average - EUR/GBP
|
1.14
|
1.12
|
1.16
|
2%
|
(2%)
|
3 month average - EUR/GBP
|
1.14
|
1.13
|
1.16
|
1%
|
(2%)
|
|
|
|
|
|
|
Share price data
|
|
|
|
|
|
Barclays PLC (p)
|
189.00
|
203.10
|
202.75
|
|
|
Barclays PLC number of shares (m)
|
17,110
|
17,060
|
17,034
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For further information please contact
|
|
|
|
|
|
|
|
|
|
|
|
Investor relations
|
Media relations
|
||||
Lisa Bartrip +44 (0) 20 7773 0708
|
Thomas Hoskin +44 (0) 20 7116 4755
|
||||
|
|
|
|
|
|
More information on Barclays can be found on our website:
home.barclays.
|
|
|
|
|
|
|
|
|
|
|
|
Registered office
|
|
|
|
|
|
1 Churchill Place, London, E14 5HP, United Kingdom. Tel: +44 (0) 20
7116 1000. Company number: 48839.
|
|
||||
|
|
|
|
|
|
Registrar
|
|
|
|
|
|
Equiniti, Aspect House, Spencer Road, Lancing, West Sussex, BN99
6DA, United Kingdom.
|
|
||||
Tel: 0371 384 20554
from the UK or +44 121 415 7004 from
overseas.
|
|
1
|
Note that these dates are provisional and subject to change. Any
changes to the Scrip Dividend Programme dates will be made
available at home.barclays/dividends.
|
2
|
The average rates shown above are derived from daily spot rates
during the year.
|
3
|
The change is the impact to GBP reported information.
|
4
|
Lines open 8.30am to 5.30pm (UK time), Monday to Friday, excluding
UK public holidays in England and Wales.
|