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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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● Remuneration
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26-27
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Risk Management
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Risk Management and Principal Risks
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28
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● Credit
Risk
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29-40
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● Market
Risk
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41
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● Treasury
and Capital Risk
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42-51
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Statement
of Directors' Responsibilities
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52
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Condensed
Consolidated Financial Statements
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53-57
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Financial
Statement Notes
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58-63
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Appendix: Non-IFRS
Performance Measures
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64-72
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Shareholder
Information
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73
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●
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Delivering
improving earnings for shareholders
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●
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Improving
operating leverage and investing in medium term growth initiatives
with a particular focus on capital light activities with attractive
returns
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●
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Common
equity tier 1 (CET1) ratio of 13.2% is at the end-state target of
c.13%, with future profit generation supporting both investment and
cash returns to shareholders
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Returns1
Group RoTE targets of >9% in 2019 and >10% in
2020
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● Earnings
per share (EPS) of 21.9p (2017: negative 3.5p) and Group return on
tangible equity (RoTE) of 8.5% (2017: negative 1.2%), with profit
before tax (PBT) up 20% to £5.7bn
● Barclays
UK RoTE of 16.7% (2017: 17.8%), as PBT decreased 3% to
£2.4bn
● Barclays
International RoTE of 8.7% (2017: 4.4%), as PBT increased 10% to
£3.9bn
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Cost efficiency
Group cost guidance of £13.6-13.9bn1 in 2019, and
cost: income ratio of <60% over time
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● Group
operating expenses decreased 2% to £13.9bn in line with
guidance after excluding a charge for Guaranteed Minimum Pensions
(GMP)
●
The cost: income ratio,
excluding litigation and conduct charges, improved to 66% (2017:
68%)
● Creating
capacity within the cost base through elimination of legacy costs
and productivity savings via Barclays Execution Services (BX) to
improve operating leverage and investment in medium term growth
initiatives, while delivering a reduction in absolute costs in
2018
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Capital and dividends
At end-state CET1 ratio
target of c.13%
6.5p total dividend for 2018
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● Generated
140bps of capital from profits, more than offset by 71bps impact
from litigation and conduct charges, 53bps from ordinary dividends
and Additional Tier 1 (AT1) coupons paid and foreseen, and 33bps
from the decision to redeem Preference Shares and Additional Tier 1
(AT1) securities in December 2018
● Capital
returns policy updated - progressive ordinary dividend,
supplemented by share buybacks as and when
appropriate
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●
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Barclays Group profit before tax was £3.5bn (2017:
£3.5bn) which included litigation and conduct
charges of £2.2bn (2017: £1.2bn) 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 £0.4bn (2017:
£0.7bn) due to Payment Protection Insurance
(PPI) in Q118
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●
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Excluding litigation and conduct charges, Group profit before tax
increased 20% to £5.7bn despite the adverse effect
of the 3% depreciation of average USD against GBP. Income was
stable and operating expenses reduced 2%. The cost: income
ratio improved to 66% (2017: 68%) which included
a £140m charge to reflect the estimated increase in
pension obligations due to GMP. Credit impairment charges
reduced 37% to £1.5bn including updates for consensus-based
macroeconomic forecasts in the UK and US during the year and the
prudent management of credit risk. This improvement was partially
offset by a Q418 £150m specific charge for the impact of the
anticipated economic uncertainty in the UK
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●
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Barclays UK profit before tax increased to £2.0bn (2017:
£1.7bn). Excluding litigation and conduct, profit
before tax decreased 3% to £2.4bn reflecting a 5% increase in
impairment charges, due to a £100m charge for the anticipated
economic uncertainty in the UK. Income was stable as lower interest
margins were offset by strong balance sheet growth. Expenses
increased 1% reflecting continued investment to grow the business
and improve future operating efficiency. RoTE excluding litigation
and conduct was 16.7% (2017: 17.8%)
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●
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Barclays International profit before tax increased to £3.8bn
(2017: £3.3bn). Income growth in Markets and the Consumer,
Cards and Payments business was offset by the non-recurrence of
prior year one-offs, from a US asset card sale and a valuation
gain on Barclays' preference shares in Visa Inc, and lower
Banking income. Credit impairment charges decreased 56% primarily
due to single name recoveries, updates for consensus-based
macroeconomic forecasts in the UK and US, non-recurrence of single
name charges in 2017 and the repositioning of the US cards portfolio towards a
lower risk mix. Total
operating expenses decreased 2% as continued investments
in business growth, talent and technology were offset by lower
costs for restructuring and structural reform. RoTE excluding
litigation and conduct was 8.7% (2017: 4.4%), with the Corporate
and Investment Bank (CIB) and Consumer, Cards and Payments
delivering 7.1% and 17.3% (2017: 2.2% and 16.8%)
respectively
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●
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Attributable profit was £1.4bn (2017: loss of
£1.9bn). This reflected the non-recurrence of a
£2.5bn loss related to the sell down of Barclays Africa Group
Limited (BAGL) and a tax charge of £1.1bn compared to a 2017
charge of £2.2bn which included a one-off net charge of
£0.9bn due to the re-measurement of US deferred tax assets
(DTAs). Basic earnings per share was 9.4p (2017: loss per
share of 10.3p) and excluding litigation and conduct was 21.9p
(2017: loss per share of 3.5p)
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●
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Tangible net asset value (TNAV) per share was 262p (December 2017:
276p) as 21.9p of earnings per share, excluding
litigation and conduct, was more than offset by the implementation
of IFRS 9, impact of litigation and conduct charges, the redemption
of Preference Shares and AT1 securities, as well as dividend
payments. In Q418 TNAV increased by 2p, the third consecutive
quarter of TNAV accretion
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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
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for the year ended
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31.12.18
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31.12.17
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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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21,136
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21,076
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-
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Credit impairment charges and other provisions
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(1,468)
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(2,336)
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37
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Net operating income
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19,668
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18,740
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5
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Operating costs
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(13,627)
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(13,884)
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2
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UK bank levy
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(269)
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(365)
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26
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Operating expenses
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(13,896)
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(14,249)
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2
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GMP charge
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(140)
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-
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Litigation and conduct
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(2,207)
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(1,207)
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(83)
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Total operating expenses
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(16,243)
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(15,456)
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(5)
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Other net income
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69
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257
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(73)
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Profit before tax
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3,494
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3,541
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(1)
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Tax charge
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(1,122)
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(2,240)
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50
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Profit after tax in respect of continuing operations
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2,372
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1,301
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82
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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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(226)
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(249)
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9
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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 holders1
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(752)
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(639)
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(18)
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Attributable profit/(loss)
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1,394
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(1,922)
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Performance measures
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Return on average tangible shareholders' equity1
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3.6%
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(3.6%)
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Average tangible shareholders' equity (£bn)
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44.1
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48.9
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Cost: income ratio
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77%
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73%
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Loan loss rate (bps)2
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44
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57
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Basic earnings/(loss) per share1
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9.4p
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(10.3p)
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Dividend per share
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6.5p
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3.0p
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Performance measures excluding litigation and
conduct3
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Profit before tax
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5,701
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4,748
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20
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Attributable profit/(loss)
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3,530
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(772)
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Return on average tangible shareholders' equity1
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8.5%
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(1.2%)
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Cost: income ratio
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66%
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68%
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Basic earnings/(loss) per share1
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21.9p
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(3.5p)
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Balance sheet and capital
management4
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£bn
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£bn
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Tangible net asset value per share
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262p
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276p
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Common equity tier 1 ratio
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13.2%
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13.3%
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Common equity tier 1 capital
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41.1
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41.6
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Risk weighted assets
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311.9
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313.0
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UK leverage ratio
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5.1%
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5.1%
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UK leverage exposure
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999
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985
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Average UK leverage ratio5
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4.5%
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4.9%
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Average UK leverage exposure5
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1,110
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1,045
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Funding and liquidity
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Group liquidity pool (£bn)
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227
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220
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Liquidity coverage ratio
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169%
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154%
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Loan: deposit ratio
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83%
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81%
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1
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The profit after tax attributable to other equity instrument
holders of £752m (2017: £639m) is offset by a tax credit
recorded in reserves of £203m (2017: £174m). The net
amount of £549m (2017: £465m), 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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2
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Comparatives calculated based on gross loans and advances at
amortised cost prior to the balance sheet presentation change and
IAS 39 impairment charge.
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3
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Refer to pages 64 to 72 for further information and calculations of
performance measures excluding litigation and conduct.
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4
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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.
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5
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The average UK leverage ratio and exposure are for Q4, refer to
page 49 for details on the averaging methodology for both 2018 and
2017.
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6
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The fully loaded CET1 ratio was 12.8%, with £39.8bn of CET1
capital and £311.8bn of Risk Weights Assets (RWA), calculated
without applying the transitional arrangements of the
CRR.
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●
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Profit
before tax was £3,494m (2017: £3,541m). Excluding
litigation and conduct charges, profit before tax increased 20% to
£5,701m driven by an improvement in credit impairment charges
and a reduction in operating expenses. The 3% depreciation of
average USD against GBP adversely impacted profits
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●
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Total
income was £21,136m (2017: £21,076m). Barclays
UK income was stable as lower interest margins were offset by
strong balance sheet growth. Barclays International income
growth in Markets, which increased 9%, was offset by lower Banking
income, primarily from a 20% decrease in Corporate lending income
reflecting the strategy of redeploying Risk Weighted
Assets (RWAs) to higher returning businesses. Consumer, Cards
and Payments income growth was offset by the non-recurrence of
prior year one-offs, from a US asset card sale and a valuation
gain on Barclays' preference shares in Visa Inc. Head Office income
was a net expense of £273m (2017: £159m), 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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●
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Credit impairment charges decreased 37% to £1,468m primarily
driven by single name recoveries, updates
to consensus-based macroeconomic forecasts in the UK and
US during the year, the non-recurrence of single name charges
in 2017, portfolio adjustments as IFRS 9 has continued to embed and
the prudent management of credit risk, including the impact of
repositioning the US cards portfolio towards a lower risk mix. This
decrease was partially offset by a Q418 £150m specific charge
for the impact of the anticipated economic uncertainty in the UK.
The Barclays Group loan loss rate was 44bps (2017:
57bps)
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●
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Operating
expenses of £13,896m (2017: £14,249m) reduced 2% as
continued investment to grow the business and improve future
operating efficiency was more than offset by elimination of legacy
costs, productivity savings and a lower bank levy charge due to a
reduction in the levy rate and the impact of prior year
adjustments. The cost: income
ratio, excluding litigation and conduct, reduced to 66% (2017:
68%)
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●
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Total
operating expenses of £16,243m (2017: £15,456m) included
litigation and conduct charges of £2,207m (2017: £1,207m)
and a £140m charge for GMP in relation to the equalisation of
obligations for members of the Barclays Bank UK Retirement Fund
(UKRF). There was no capital impact of the GMP charge as, at 31
December 2018, the UKRF remained in accounting surplus
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●
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Other
net income declined to £69m (2017: £257m) primarily
reflecting the non-recurrence of gains on the sales of Barclays'
share in VocaLink and a joint venture in Japan in Q217
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●
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The
Group's effective tax rate reduced to 32.1% (2017: 63.3%). The 2017
rate included a one-off net charge due to the re-measurement of
DTAs as a result of the reduction in the US federal corporate
income tax rate. The underlying effective tax rate was 20.9% (2017:
29.4%), due to the lower US federal corporate income tax rate and
the beneficial impact of adjustments to prior periods recognised in
2018
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●
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The
Group's underlying effective tax rate for future periods is
expected to be in the low-to mid-20 percents, excluding the impact
of the future accounting change that will require tax relief on
payments in relation to AT1 instruments to be recognised in the
income statement, as opposed to retained earnings
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●
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Attributable
profit was £1,394m (2017: loss of £1,922m). This
reflected the non-recurrence of a £2.5bn loss related to the
sell down of BAGL and a tax charge of £1,122m compared to a
2017 charge of £2,240m which included a one-off net charge of
£0.9bn due to the re-measurement of US DTAs
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●
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RoTE
was 8.5% (2017: negative 1.2%) and earnings per share was 21.9p
(2017: loss per share of 3.5p), excluding litigation and conduct.
Statutory RoTE was 3.6% (2017: negative 3.6%) and basic earnings
per share was 9.4p (2017: loss per share 10.3p)
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●
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TNAV
per share was 262p (December 2017: 276p) as 21.9p of earnings per
share, excluding litigation and conduct, was more than offset by
the implementation of IFRS 9, impact of litigation and conduct
charges, the redemption of Preference Shares and AT1 securities, as
well as dividend payments. In Q418 TNAV increased by
2p, the third consecutive
quarter of TNAV accretion
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●
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Barclays'
CET1 ratio ended the year at 13.2% (December 2017: 13.3%), at our
end-state target of c.13%
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CET1
capital decreased £0.5bn to £41.1bn as underlying profit
generation of £4.2bn, was more than offset by £2.1bn of
litigation and conduct charges, as the bank resolved major legacy
matters, £1.7bn for ordinary dividends and AT1 coupons paid
and foreseen, and £1.0bn from the redemption of capital
instruments
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●
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RWAs
remained broadly stable at £311.9bn (December 2017:
£313.0bn). The Group continued to actively manage capital
allocation to businesses during the year, including the
redeployment of RWAs within CIB to higher returning businesses,
while targeting growth in selected consumer businesses in Barclays
UK and Consumer, Cards and Payments. Within Barclays UK, the
increase in RWAs included the impact of a change in the regulatory
methodology for the Education, Social Housing and Local Authority
(ESHLA) portfolio which was partly offset by a reduction in Head
Office due to the regulatory deconsolidation of BAGL
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●
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The UK
leverage ratio remained flat at 5.1% (December 2017:
5.1%). The UK leverage exposure increased marginally to
£999bn (December 2017: £985bn) including securities
financing transactions (SFTs), due to the CIB utilising leverage
balance sheet more efficiently within high returning financing
businesses. The average UK leverage ratio decreased to 4.5%
(December 2017: 4.9%)
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●
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The
liquidity pool increased to £227bn (December 2017:
£220bn) driven largely by net deposit growth across
businesses. The liquidity coverage ratio (LCR) increased to 169%
(December 2017: 154%), equivalent to a surplus of £90bn
(December 2017: £75bn) to the 100% regulatory requirement.
Barclays Group also continued to maintain surpluses to its internal
liquidity requirements. The strong liquidity position reflects the
Barclays Group's prudent approach given the continued macroeconomic
uncertainty
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●
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Barclays
Group issued £12.2bn of minimum requirement for own funds and
eligible liabilities (MREL) instruments from Barclays PLC (the
Parent company) in a range of tenors and currencies. Barclays Group
is well advanced in its MREL issuance plans, with a Barclays PLC
MREL ratio of 28.1% as at 31 December 2018 relative to an estimated
requirement including requisite buffers of 30.0% by 1 January
2022
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●
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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
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●
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The
overall funding structure has improved further - Barclays Group has
continued to reduce its reliance on short-term wholesale funding,
where the proportion maturing in less than 1 year fell to 30%
(December 2017: 31%)
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●
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In Q118
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 $2.0bn (£1.4bn)
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●
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In 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. In
October 2018, the High Court denied the SFO's application to
reinstate the charges, which were consequently
dismissed
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●
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Additional
charges of £0.4bn (2017: £0.7bn) relating to PPI were
recognised in Q118. The remaining PPI provision as at 31 December
2018 was £0.9bn (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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In Q418
Barclays Bank Ireland PLC (BBI) received confirmation of its
extended banking licence as part of Barclays' plans to expand BBI
in anticipation of the UK's departure from the EU in March
2019. On 29 January 2019 Barclays received approval from the
High Court of Justice of England and Wales for its banking business
transfer scheme application under Part VII of the Financial
Services and Markets Act 2000
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|
●
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A half
year dividend of 2.5p per share was paid on 17 September 2018.
Barclays declares a full year dividend of 4.0p per share, resulting
in a total dividend of 6.5p per share for 2018
|
|
●
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Barclays
understands the importance of delivering attractive cash returns to
shareholders. Barclays is therefore committed to maintaining an
appropriate balance between total cash returns to shareholders,
investment in the business and maintaining a strong capital
position. Going forward, Barclays intends to pay a progressive
ordinary dividend, taking into account these objectives and the
earnings outlook of the Group. It is also the Board's intention to
supplement the ordinary dividends with additional cash returns,
including share buybacks, to shareholders as and when
appropriate
|
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●
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Barclays
is on track in the execution of its strategy and continues to
target a RoTE1 of greater than
9% for 2019 and greater than 10% for 2020 and operating
expenses1 guidance in the
range of £13.6-13.9bn for 2019. The Group's 2018 results
reflect good progress towards these targets
|
|
1
|
Excluding litigation and conduct, with returns targets based on a
Barclays Group CET1 ratio of c.13%.
|
|
Barclays UK
|
Year ended
|
Year ended
|
|
|
31.12.18
|
31.12.17
|
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
Net interest income
|
6,028
|
6,086
|
(1)
|
|
Net fee, commission and other income
|
1,355
|
1,297
|
4
|
|
Total income
|
7,383
|
7,383
|
-
|
|
Credit impairment charges and other provisions
|
(826)
|
(783)
|
(5)
|
|
Net operating income
|
6,557
|
6,600
|
(1)
|
|
Operating costs
|
(4,075)
|
(4,030)
|
(1)
|
|
UK bank levy
|
(46)
|
(59)
|
22
|
|
Litigation and conduct
|
(483)
|
(759)
|
36
|
|
Total operating expenses
|
(4,604)
|
(4,848)
|
5
|
|
Other net income/(expenses)
|
3
|
(5)
|
|
|
Profit before tax
|
1,956
|
1,747
|
12
|
|
Attributable profit
|
1,158
|
853
|
36
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
|
Loans and advances to customers at amortised cost
|
187.6
|
183.8
|
|
|
Total assets
|
249.7
|
237.4
|
|
|
Customer deposits at amortised cost
|
197.3
|
193.4
|
|
|
Loan: deposit ratio
|
96%
|
95%
|
|
|
Risk weighted assets
|
75.2
|
70.9
|
|
|
Period end allocated tangible equity
|
10.2
|
9.6
|
|
|
|
|
|
|
|
Key facts
|
|
|
|
|
Average loan to value of mortgage portfolio
|
48%
|
48%
|
|
|
Average loan to value of new mortgage lending
|
65%
|
64%
|
|
|
Number of branches
|
1,058
|
1,208
|
|
|
Mobile banking active customers
|
7.3m
|
6.4m
|
|
|
30 day arrears rate - Barclaycard Consumer UK
|
1.8%
|
1.8%
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
Return on average allocated tangible equity
|
11.9%
|
9.8%
|
|
|
Average allocated tangible equity (£bn)
|
10.0
|
9.1
|
|
|
Cost: income ratio
|
62%
|
66%
|
|
|
Loan loss rate (bps)1
|
43
|
42
|
|
|
Net interest margin
|
3.23%
|
3.49%
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
|
|
Profit before tax
|
2,439
|
2,506
|
(3)
|
|
Attributable profit
|
1,630
|
1,586
|
3
|
|
Return on average allocated tangible equity
|
16.7%
|
17.8%
|
|
|
Cost: income ratio
|
56%
|
55%
|
|
|
1
|
Comparatives calculated based on gross loans and advances at
amortised cost prior to the balance sheet presentation change and
IAS 39 impairment charge.
|
|
2
|
Refer to pages 64 to 72 for further information and calculations of
performance measures excluding litigation and conduct.
|
|
Analysis of Barclays UK
|
Year ended
|
Year ended
|
|
|
31.12.18
|
31.12.17
|
|
|
|
Analysis of total income
|
£m
|
£m
|
% Change
|
|
Personal Banking1
|
4,006
|
4,214
|
(5)
|
|
Barclaycard Consumer UK
|
2,104
|
1,977
|
6
|
|
Business Banking1
|
1,273
|
1,192
|
7
|
|
Total income
|
7,383
|
7,383
|
-
|
|
|
|
|
|
|
Analysis of credit impairment charges and other
provisions
|
|
|
|
|
Personal Banking1
|
(173)
|
(221)
|
22
|
|
Barclaycard Consumer UK
|
(590)
|
(541)
|
(9)
|
|
Business Banking1
|
(63)
|
(21)
|
|
|
Total credit impairment charges and other provisions
|
(826)
|
(783)
|
(5)
|
|
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
|
|
Personal Banking1
|
146.0
|
141.3
|
|
|
Barclaycard Consumer UK
|
15.3
|
16.4
|
|
|
Business Banking1
|
26.3
|
26.1
|
|
|
Total loans and advances to customers at amortised
cost
|
187.6
|
183.8
|
|
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
|
Personal Banking1
|
154.0
|
153.1
|
|
|
Barclaycard Consumer UK
|
-
|
-
|
|
|
Business Banking1
|
43.3
|
40.3
|
|
|
Total customer deposits at amortised cost
|
197.3
|
193.4
|
|
|
1
|
In Q218, Wealth was reclassified from Wealth, Entrepreneurs &
Business Banking (now named Business Banking) to Personal Banking.
Comparatives have been restated.
|
|
●
|
RoTE
excluding litigation and conduct was 16.7% (2017: 17.8%) reflecting
the continuing strength of Barclays UK business. Including
litigation and conduct charges of £483m (2017: £759m),
RoTE increased to 11.9% (2017: 9.8%)
|
|
|
●
|
Total
income was stable at £7,383m (2017:
£7,383m) as lower interest margins were offset by strong
balance sheet growth in secured lending and customer
deposits
|
|
|
|
-
|
Personal
Banking income decreased 5% to £4,006m as continued momentum
in mortgage lending and growth in customer deposits was more than
offset by the non-recurrence of an update to effective interest
rate modelling in Q417, a valuation gain on Barclays' preference
shares in Visa Inc. in Q117 and the realignment of clients from
Barclays UK to Barclays International as part of structural
reform
|
|
|
-
|
Barclaycard
Consumer UK income increased 6% to £2,104m reflecting a focus
on sustainable growth and the non-recurrence of remediation
provisioning in H217
|
|
|
-
|
Business
Banking income increased 7% to £1,273m driven by strong
deposit growth and the realignment of clients from Barclays
International to Barclays UK as part of structural
reform
|
|
|
-
|
Net
interest margin decreased 26bps to 3.23% reflecting growth in
secured lending at lower margins and the integration of the ESHLA
portfolio
|
|
●
|
Credit
impairment charges increased 5% to £826m primarily due to
a Q418 £100m specific charge for the impact of the anticipated
economic uncertainty in the UK. This was partially offset by
improved consensus-based macroeconomic forecasts during the year
and the continued prudent management of credit risk reflected in
the broadly stable 30 and 90 day arrears rates in UK cards of 1.8%
(2017: 1.8%) and 0.9% (2017: 0.8%) respectively
|
|
|
●
|
Operating
expenses excluding litigation and conduct increased 1% to
£4,121m as continued investment to grow the business,
including digitisation of the bank and improvements to future
operating efficiency, were partially offset by cost efficiencies
and lower costs of setting up the ring-fenced bank. The cost:
income ratio excluding litigation and conduct was 56% (2017:
55%)
|
|
|
●
|
Loans
and advances to customers at amortised cost increased 2% to
£187.6bn reflecting £4.6bn of mortgage
growth
|
|
●
|
Total
assets increased 5% to £249.7bn reflecting increases in the
liquidity pool including the transfer of treasury assets from Head
Office and loans and advances to customers
|
|
●
|
Customer
deposits at amortised cost increased 2% to £197.3bn as strong
deposit growth was partially offset by the net realignment of
clients between Barclays UK and Barclays International as part of
structural reform
|
|
●
|
RWAs
increased to £75.2bn (December 2017: £70.9bn) primarily
due to growth in mortgages and UK cards, and regulatory methodology
changes for the ESHLA portfolio
|
|
Barclays International
|
Year ended
|
Year ended
|
|
|
31.12.18
|
31.12.17
|
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
Net interest income
|
3,815
|
4,307
|
(11)
|
|
Net trading income
|
4,450
|
3,971
|
12
|
|
Net fee, commission and other income
|
5,761
|
6,104
|
(6)
|
|
Total income
|
14,026
|
14,382
|
(2)
|
|
Credit impairment charges and other provisions
|
(658)
|
(1,506)
|
56
|
|
Net operating income
|
13,368
|
12,876
|
4
|
|
Operating costs
|
(9,324)
|
(9,321)
|
-
|
|
UK bank levy
|
(210)
|
(265)
|
21
|
|
Litigation and conduct
|
(127)
|
(269)
|
53
|
|
Total operating expenses
|
(9,661)
|
(9,855)
|
2
|
|
Other net income
|
68
|
254
|
(73)
|
|
Profit before tax
|
3,775
|
3,275
|
15
|
|
Attributable profit
|
2,441
|
847
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
|
Loans and advances at amortised cost
|
127.2
|
126.8
|
|
|
Trading portfolio assets
|
104.0
|
113.0
|
|
|
Derivative financial instrument assets
|
222.1
|
236.2
|
|
|
Derivative financial instrument liabilities
|
219.6
|
237.8
|
|
|
Financial assets at fair value through the income
statement
|
144.7
|
104.1
|
|
|
Total assets
|
862.1
|
856.1
|
|
|
Deposits at amortised cost
|
197.2
|
187.3
|
|
|
Loan: deposit ratio
|
65%
|
68%
|
|
|
Risk weighted assets
|
210.7
|
210.3
|
|
|
Period end allocated tangible equity
|
29.9
|
27.5
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
Return on average allocated tangible equity
|
8.4%
|
3.4%
|
|
|
Average allocated tangible equity (£bn)
|
31.0
|
28.1
|
|
|
Cost: income ratio
|
69%
|
69%
|
|
|
Loan loss rate (bps)1
|
50
|
75
|
|
|
Net interest margin
|
4.11%
|
4.16%
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
|
|
Profit before tax
|
3,902
|
3,544
|
10
|
|
Attributable profit
|
2,547
|
1,107
|
|
|
Return on average allocated tangible equity
|
8.7%
|
4.4%
|
|
|
Cost: income ratio
|
68%
|
67%
|
|
|
1
|
Comparatives calculated based on gross loans and advances at
amortised cost prior to the balance sheet presentation change and
IAS 39 impairment charge.
|
|
2
|
Refer to pages 64 to 72 for further information and calculations of
performance measures excluding litigation and conduct.
|
|
Analysis of Barclays International
|
|
|
|
|
Corporate and Investment Bank
|
Year ended
|
Year ended
|
|
|
31.12.18
|
31.12.17
|
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
FICC1
|
2,863
|
2,875
|
-
|
|
Equities
|
2,037
|
1,629
|
25
|
|
Markets
|
4,900
|
4,504
|
9
|
|
Banking fees
|
2,531
|
2,612
|
(3)
|
|
Corporate lending
|
878
|
1,093
|
(20)
|
|
Transaction banking
|
1,627
|
1,629
|
-
|
|
Banking
|
5,036
|
5,334
|
(6)
|
|
Other
|
(171)
|
40
|
|
|
Total income
|
9,765
|
9,878
|
(1)
|
|
Credit impairment releases/(charges) and other
provisions
|
150
|
(213)
|
|
|
Net operating income
|
9,915
|
9,665
|
3
|
|
Operating expenses
|
(7,281)
|
(7,475)
|
3
|
|
Litigation and conduct
|
(68)
|
(267)
|
75
|
|
Total operating expenses
|
(7,349)
|
(7,742)
|
5
|
|
Other net income
|
27
|
133
|
(80)
|
|
Profit before tax
|
2,593
|
2,056
|
26
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
|
Loans and advances at amortised cost
|
86.4
|
88.2
|
|
|
Deposits at amortised cost
|
136.3
|
128.0
|
|
|
Risk weighted assets
|
170.9
|
176.2
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
Return on average allocated tangible equity
|
6.9%
|
1.1%
|
|
|
Average allocated tangible equity (£bn)
|
26.0
|
24.0
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
|
|
Profit before tax
|
2,661
|
2,323
|
15
|
|
Return on average allocated tangible equity
|
7.1%
|
2.2%
|
|
|
1
|
Fixed income, currencies and commodities (FICC) is composed of
Credit and Macro income.
|
|
2
|
Refer to pages 64 to 72 for more information and calculations of
performance measures excluding litigation and conduct.
|
|
Analysis of Barclays International
|
|
|
|
|
Consumer, Cards and Payments
|
Year ended
|
Year ended
|
|
|
31.12.18
|
31.12.17
|
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
Total income
|
4,261
|
4,504
|
(5)
|
|
Credit impairment charges and other provisions
|
(808)
|
(1,293)
|
38
|
|
Net operating income
|
3,453
|
3,211
|
8
|
|
Operating expenses
|
(2,253)
|
(2,111)
|
(7)
|
|
Litigation and conduct
|
(59)
|
(2)
|
|
|
Total operating expenses
|
(2,312)
|
(2,113)
|
(9)
|
|
Other net income
|
41
|
121
|
(66)
|
|
Profit before tax
|
1,182
|
1,219
|
(3)
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
|
Loans and advances at amortised cost
|
40.8
|
38.6
|
|
|
Deposits at amortised cost
|
60.9
|
59.3
|
|
|
Risk weighted assets
|
39.8
|
34.1
|
|
|
|
|
|
|
|
Key facts
|
|
|
|
|
30 day arrears rate - Barclaycard US
|
2.7%
|
2.6%
|
|
|
Total number of Barclaycard business clients
|
374,000
|
366,000
|
|
|
Value of payments processed (£bn)
|
344
|
322
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
Return on average allocated tangible equity
|
16.5%
|
16.7%
|
|
|
Average allocated tangible equity (£bn)
|
5.0
|
4.2
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
|
|
Profit before tax
|
1,241
|
1,221
|
2
|
|
Return on average allocated tangible equity
|
17.3%
|
16.8%
|
|
|
1
|
Refer to pages 64 to 72 for more information and calculations of
performance measures excluding litigation and conduct.
|
|
●
|
Profit
before tax increased 10% to £3,902m achieving a RoTE of 8.7%
(2017: 4.4%), reflecting improved returns in both CIB of 7.1%
(2017: 2.2%) and Consumer, Cards and Payments of 17.3% (2017:
16.8%) excluding litigation and conduct
|
||
|
●
|
The 3%
depreciation of average USD against GBP adversely impacted profits
and income, and positively impacted credit impairment charges and
operating expenses
|
||
|
●
|
Total
income was £14,026m (2017: £14,382m)
|
||
|
|
-
|
CIB
income of £9,765m decreased 1% as Markets income increased 9%
to £4,900m, reflecting gains in market share1, offset by a
decrease in Banking income of 6% to £5,036m
|
|
|
|
|
-
|
FICC
income was stable at £2,863m (2017: £2,875m)
with significant share gains despite a challenging
environment
|
|
|
|
-
|
Equities
income increased 25% to £2,037m becoming one of the
highest growing Equities franchises relative to peers,
substantially improving our global ranking. This was driven by
strength in derivatives and continued growth
in the equity financing franchise through increased
client balances, together with
technology investment, which resulted in
higher electronic revenues
|
|
|
|
-
|
Banking
fee income decreased 3% to £2,531m as Barclays maintained
its highest rank and global fee share in 4 years, including a
record year in Advisory, which was more than offset by debt and
equity underwriting fees being down across the
industry
|
|
|
|
-
|
Corporate
lending income reduced 20% to £878m
reflecting the strategy of redeploying RWAs within the
CIB towards higher returning business and the transfer of clients
between Barclays UK and Barclays International as part of
structural reform
|
|
|
|
-
|
Transaction
banking income was stable at £1,627m (2017: £1,629m) as
strong and targeted growth in deposits was offset by
the transfer of clients between Barclays UK and Barclays
International as part of structural reform
|
|
|
-
|
Consumer,
Cards and Payments income decreased 5% to £4,261m. Excluding
material one-off items in both 2017 and 2018, related to US cards
portfolio sales and revaluation of Barclays preference shares in
Visa Inc, underlying income increased due to growth in US
cards
|
|
|
●
|
Credit
impairment charges decreased 56% to £658m
|
||
|
|
-
|
CIB
credit impairment charges decreased to a release of £150m
(2017: charge of £213m) primarily due to single
namerecoveries, improved consensus-based macroeconomic
forecasts during the year, the non-recurrence of single name
charges in 2017 and the prudent management of credit
risk, partially offset by
a Q418 £50m specific charge for
theanticipated economic uncertainty in the UK
|
|
|
|
-
|
Consumer,
Cards and Payments credit impairment charges decreased 38% to
£808m reflecting the non-recurrence of a £168m
charge in Q317 relating to deferred consideration from the Q117
asset sale in US cards, improved consensus-based macroeconomic
forecasts in the US and the impact of repositioning the US cards
portfolio towards a lower risk mix
|
|
|
●
|
Total
operating expenses decreased 2% to £9,661m as continued
investments in business growth, talent and technology were offset
by lower restructuring and structural reform costs, and a reduced
impact from the change in compensation awards introduced in
Q416
|
||
|
●
|
Other
net income decreased to £68m (2017: £254m) 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 Q217
|
||
|
●
|
Attributable
profit increased to £2,441m (2017: £847m) as 2017 was
impacted by the one-off tax charge due to the re-measurement of US
DTAs
|
||
|
●
|
Loans
and advances at amortised cost remained broadly flat at
£127.2bn (December 2017: £126.8bn)
|
|
●
|
Derivative
financial instrument assets and liabilities decreased £14.1bn
to £222.1bn and £18.2bn to £219.6bn respectively,
due to a decrease in interest rate derivatives,
driven by an increase in major interest rate forward
curves, and the adoption of daily settlement under the London
Clearing House (LCH) rules, partially offset by increased
foreign exchange and equity derivative
volumes
|
|
●
|
Financial
assets at fair value through the income statement increased
£40.6bn to £144.7bn primarily due to the impact of
the transition to IFRS 9 and increased reverse repurchase
agreements activity
|
|
●
|
Total
assets increased £6.0bn to £862.1bn including the
transfer of treasury assets from Head Office
|
|
●
|
Deposits
at amortised cost increased £9.9bn to £197.2bn, due to
the integration of treasury liabilities from Head Office
and a strong and
targeted increase in deposits
|
|
●
|
RWAs were in
line at £210.7bn (December 2017: £210.3bn) as reductions
in CIB were offset by increased lending in Consumer, Cards &
Payments
|
|
1
|
All Markets ranks and shares: Coalition, FY18 Preliminary
Competitor Analysis based on the Coalition Index and Barclays'
internal business structure.
|
|
Head Office
|
Year ended
|
Year ended
|
|
|
31.12.18
|
31.12.17
|
|
|
|
Income statement information
|
£m
|
£m
|
% Change
|
|
Net interest income
|
(781)
|
(435)
|
(80)
|
|
Net fee, commission and other income
|
508
|
276
|
84
|
|
Total income
|
(273)
|
(159)
|
(72)
|
|
Credit impairment releases/(charges) and other
provisions
|
16
|
(17)
|
|
|
Net operating income
|
(257)
|
(176)
|
(46)
|
|
Operating costs
|
(228)
|
(277)
|
18
|
|
UK bank levy
|
(13)
|
(41)
|
68
|
|
GMP charge
|
(140)
|
-
|
|
|
Litigation and conduct
|
(1,597)
|
(151)
|
|
|
Total operating expenses
|
(1,978)
|
(469)
|
|
|
Other net expenses
|
(2)
|
(189)
|
99
|
|
Loss before tax
|
(2,237)
|
(834)
|
|
|
Attributable loss
|
(2,205)
|
(868)
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
|
|
Total assets
|
21.5
|
39.7
|
|
|
Risk weighted assets
|
26.0
|
31.8
|
|
|
Period end allocated tangible equity
|
4.9
|
10.0
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
Average allocated tangible equity (£bn)
|
3.1
|
9.3
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
|
|
Loss before tax
|
(640)
|
(683)
|
6
|
|
Attributable loss
|
(647)
|
(731)
|
11
|
|
1
|
Refer to pages 64 to 72 for further
information and calculations of performance measures excluding
litigation and conduct.
|
|
●
|
Loss
before tax excluding litigation and conduct was £640m (2017:
£683m). Including litigation and conduct charges of
£1,597m (2017: £151m) primarily related to the
£1,420m settlement with the US DoJ relating to RMBS, loss
before tax was £2,237m (2017: £834m)
|
|
●
|
Total
income was an expense of £273m (2017: £159m) reflecting
legacy capital instrument funding costs of £351m and hedge
accounting expenses. This was partially offset by a one-off gain of
£155m from the settlement of receivables relating to the
Lehman Brothers acquisition in Q218, lower net expenses from
treasury operations, higher Absa Group Limited dividend income and
mark-to-market gains on legacy investments
|
|
●
|
Operating
expenses excluding litigation and conduct and a GMP charge, reduced
to £241m (2017: £318m) driven by lower costs associated
with legacy Non-Core assets and businesses, and reduced bank levy.
Total operating expenses of £1,978m (2017: £469m)
included litigation and conduct charges of £1,597m (2017:
£151m) and a £140m charge for GMP in relation to the
equalisation of obligations for members of the Barclays Bank
UKRF
|
|
●
|
Other
net expenses were £2m (2017: £189m) due to non-recurrence
of a £180m expense in Q217 on the recycling of the currency
translation reserve to the income statement on the sale of Barclays
Bank Egypt
|
|
●
|
Total
assets decreased to £21.5bn (December 2017: £39.7bn)
reflecting the transfer of treasury assets to Barclays UK and
Barclays International as part of structural reform
|
|
●
|
RWAs
decreased to £26.0bn (December 2017: £31.8bn) reflecting
the net reduction due to BAGL regulatory
deconsolidation
|
|
Barclays Group
|
|
|
|
|
|
|
|
|
|
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q2171
|
Q1171
|
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Net interest income
|
2,296
|
2,388
|
2,190
|
2,188
|
|
2,272
|
2,475
|
2,579
|
2,519
|
|
Net fee, commission and other income
|
2,777
|
2,741
|
3,386
|
3,170
|
|
2,750
|
2,698
|
2,479
|
3,304
|
|
Total income
|
5,073
|
5,129
|
5,576
|
5,358
|
|
5,022
|
5,173
|
5,058
|
5,823
|
|
Credit impairment charges and other provisions
|
(643)
|
(254)
|
(283)
|
(288)
|
|
(573)
|
(709)
|
(527)
|
(527)
|
|
Net operating income
|
4,430
|
4,875
|
5,293
|
5,070
|
|
4,449
|
4,464
|
4,531
|
5,296
|
|
Operating costs
|
(3,624)
|
(3,329)
|
(3,310)
|
(3,364)
|
|
(3,621)
|
(3,274)
|
(3,398)
|
(3,591)
|
|
UK bank levy
|
(269)
|
-
|
-
|
-
|
|
(365)
|
-
|
-
|
-
|
|
Operating expenses
|
(3,893)
|
(3,329)
|
(3,310)
|
(3,364)
|
|
(3,986)
|
(3,274)
|
(3,398)
|
(3,591)
|
|
GMP charge
|
(140)
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
|
Litigation and conduct
|
(60)
|
(105)
|
(81)
|
(1,961)
|
|
(383)
|
(81)
|
(715)
|
(28)
|
|
Total operating expenses
|
(4,093)
|
(3,434)
|
(3,391)
|
(5,325)
|
|
(4,369)
|
(3,355)
|
(4,113)
|
(3,619)
|
|
Other net income/(expenses)
|
37
|
20
|
(7)
|
19
|
|
13
|
(2)
|
241
|
5
|
|
Profit/(loss) before tax
|
374
|
1,461
|
1,895
|
(236)
|
|
93
|
1,107
|
659
|
1,682
|
|
Tax charge
|
(145)
|
(240)
|
(433)
|
(304)
|
|
(1,138)
|
(324)
|
(305)
|
(473)
|
|
Profit/(loss) after tax in respect of continuing
operations
|
229
|
1,221
|
1,462
|
(540)
|
|
(1,045)
|
783
|
354
|
1,209
|
|
Loss after tax in respect of discontinued operation
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(1,537)
|
(658)
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributable to:
|
|
|
|
|
|
|
|
|
|
|
Ordinary equity holders of the parent
|
(76)
|
1,002
|
1,232
|
(764)
|
|
(1,294)
|
583
|
(1,401)
|
190
|
|
Other equity instrument holders
|
230
|
176
|
175
|
171
|
|
181
|
157
|
162
|
139
|
|
Non-controlling interests in respect of continuing
operations
|
75
|
43
|
55
|
53
|
|
68
|
43
|
59
|
79
|
|
Non-controlling interests in respect of discontinued
operation
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(3)
|
143
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
Total assets
|
1,133.3
|
1,170.8
|
1,149.6
|
1,142.2
|
|
1,133.2
|
1,149.3
|
1,135.3
|
1,203.8
|
|
Tangible net asset value per share
|
262p
|
260p
|
259p
|
251p
|
|
276p
|
281p
|
284p
|
292p
|
|
Risk weighted assets
|
311.9
|
316.2
|
319.3
|
317.9
|
|
313.0
|
324.3
|
327.4
|
360.9
|
|
Average UK leverage exposure
|
1,110.0
|
1,119.0
|
1,081.8
|
1,089.9
|
|
1,044.6
|
1,035.1
|
1,092.2
|
1,130.4
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average tangible shareholders' equity
|
(0.1%)
|
9.4%
|
11.8%
|
(6.5%)
|
|
(10.3%)
|
5.1%
|
(11.0%)
|
1.8%
|
|
Average tangible shareholders' equity (£bn)
|
44.3
|
44.6
|
43.5
|
44.2
|
|
48.1
|
48.9
|
49.3
|
49.4
|
|
Cost: income ratio
|
81%
|
67%
|
61%
|
99%
|
|
87%
|
65%
|
81%
|
62%
|
|
Loan loss rate (bps)2
|
77
|
30
|
35
|
36
|
|
56
|
66
|
49
|
47
|
|
Basic (loss)/earnings per share
|
(0.1p)
|
6.1p
|
7.5p
|
(4.2p)
|
|
(7.3p)
|
3.7p
|
(8.0p)
|
1.3p
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct3
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Profit before tax
|
434
|
1,566
|
1,976
|
1,725
|
|
476
|
1,188
|
1,374
|
1,710
|
|
Attributable (loss)/profit
|
(14)
|
1,087
|
1,291
|
1,166
|
|
(943)
|
660
|
(698)
|
209
|
|
Return on average tangible shareholders' equity
|
0.4%
|
10.2%
|
12.3%
|
11.0%
|
|
(7.4%)
|
5.7%
|
(5.3%)
|
2.0%
|
|
Cost: income ratio
|
79%
|
65%
|
59%
|
63%
|
|
79%
|
63%
|
67%
|
62%
|
|
Basic earnings/(loss) per share
|
0.3p
|
6.6p
|
7.8p
|
7.1p
|
|
(5.3p)
|
4.1p
|
(3.8p)
|
1.5p
|
|
1
|
Results included Barclays Non-Core and the Africa Banking
discontinued operation; refer to pages 23 to 24 for further
detail.
|
|
2
|
Comparatives calculated based on gross loans and advances at
amortised cost prior to the balance sheet presentation change and
IAS 39 impairment charge.
|
|
3
|
Refer to pages 64 to 72 for further information and calculations of
performance measures excluding litigation and conduct.
|
|
Barclays UK
|
|
|
|
|
|
|
|
|
|
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Net interest income
|
1,513
|
1,529
|
1,493
|
1,493
|
|
1,540
|
1,501
|
1,534
|
1,511
|
|
Net fee, commission and other income
|
350
|
367
|
343
|
295
|
|
330
|
351
|
286
|
330
|
|
Total income
|
1,863
|
1,896
|
1,836
|
1,788
|
|
1,870
|
1,852
|
1,820
|
1,841
|
|
Credit impairment charges and other provisions
|
(296)
|
(115)
|
(214)
|
(201)
|
|
(184)
|
(201)
|
(220)
|
(178)
|
|
Net operating income
|
1,567
|
1,781
|
1,622
|
1,587
|
|
1,686
|
1,651
|
1,600
|
1,663
|
|
Operating costs
|
(1,114)
|
(988)
|
(968)
|
(1,005)
|
|
(1,117)
|
(980)
|
(974)
|
(959)
|
|
UK bank levy
|
(46)
|
-
|
-
|
-
|
|
(59)
|
-
|
-
|
-
|
|
Litigation and conduct
|
(15)
|
(54)
|
(3)
|
(411)
|
|
(53)
|
(11)
|
(699)
|
4
|
|
Total operating expenses
|
(1,175)
|
(1,042)
|
(971)
|
(1,416)
|
|
(1,229)
|
(991)
|
(1,673)
|
(955)
|
|
Other net (expenses)/income
|
(2)
|
1
|
5
|
(1)
|
|
(5)
|
1
|
(1)
|
-
|
|
Profit/(loss) before tax
|
390
|
740
|
656
|
170
|
|
452
|
661
|
(74)
|
708
|
|
Attributable profit/(loss)
|
232
|
500
|
464
|
(38)
|
|
245
|
423
|
(285)
|
470
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
Loans and advances to customers at amortised cost
|
187.6
|
186.7
|
185.3
|
184.3
|
|
183.8
|
182.2
|
166.6
|
164.5
|
|
Total assets
|
249.7
|
252.0
|
245.9
|
235.2
|
|
237.4
|
230.4
|
203.4
|
203.0
|
|
Customer deposits at amortised cost
|
197.3
|
195.8
|
194.3
|
192.0
|
|
193.4
|
189.3
|
187.4
|
184.4
|
|
Loan: deposit ratio
|
96%
|
96%
|
96%
|
96%
|
|
95%
|
97%
|
89%
|
90%
|
|
Risk weighted assets
|
75.2
|
74.8
|
75.0
|
72.5
|
|
70.9
|
70.0
|
66.1
|
66.3
|
|
Period end allocated tangible equity
|
10.2
|
10.1
|
10.2
|
9.8
|
|
9.6
|
9.5
|
8.6
|
8.8
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
9.6%
|
20.1%
|
18.8%
|
(1.1%)
|
|
10.7%
|
18.4%
|
(12.7%)
|
21.6%
|
|
Average allocated tangible equity (£bn)
|
10.1
|
10.1
|
10.1
|
9.8
|
|
9.6
|
9.4
|
8.7
|
8.9
|
|
Cost: income ratio
|
63%
|
55%
|
53%
|
79%
|
|
66%
|
54%
|
92%
|
52%
|
|
Loan loss rate (bps)1
|
61
|
24
|
45
|
43
|
|
39
|
43
|
52
|
43
|
|
Net interest margin
|
3.20%
|
3.22%
|
3.22%
|
3.27%
|
|
3.32%
|
3.28%
|
3.70%
|
3.69%
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Profit before tax
|
405
|
794
|
659
|
581
|
|
505
|
672
|
625
|
704
|
|
Attributable profit
|
244
|
548
|
465
|
373
|
|
282
|
431
|
406
|
467
|
|
Return on average allocated tangible equity
|
10.1%
|
22.0%
|
18.8%
|
15.7%
|
|
12.3%
|
18.7%
|
19.1%
|
21.5%
|
|
Cost: income ratio
|
62%
|
52%
|
53%
|
56%
|
|
63%
|
53%
|
54%
|
52%
|
|
1
|
Comparatives calculated based on gross loans and advances at
amortised cost prior to the balance sheet presentation change and
IAS 39 impairment charge.
|
|
2
|
Refer to pages 64 to 72 for further information and calculations of
performance measures excluding litigation and conduct.
|
|
Analysis of Barclays UK
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Analysis of total income
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Personal Banking1
|
998
|
1,021
|
1,015
|
972
|
|
1,116
|
1,022
|
1,033
|
1,043
|
|
Barclaycard Consumer UK
|
522
|
551
|
504
|
527
|
|
445
|
539
|
495
|
498
|
|
Business Banking1
|
343
|
324
|
317
|
289
|
|
309
|
291
|
292
|
300
|
|
Total income
|
1,863
|
1,896
|
1,836
|
1,788
|
|
1,870
|
1,852
|
1,820
|
1,841
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of credit impairment (charges)/releases and other
provisions
|
|
|
|
|
|
|
|
|
|
|
Personal Banking1
|
(44)
|
(8)
|
(49)
|
(72)
|
|
(56)
|
(57)
|
(60)
|
(48)
|
|
Barclaycard Consumer UK
|
(250)
|
(88)
|
(139)
|
(113)
|
|
(124)
|
(145)
|
(149)
|
(123)
|
|
Business Banking1
|
(2)
|
(19)
|
(26)
|
(16)
|
|
(4)
|
1
|
(11)
|
(7)
|
|
Total credit impairment charges and other provisions
|
(296)
|
(115)
|
(214)
|
(201)
|
|
(184)
|
(201)
|
(220)
|
(178)
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of loans and advances to customers at amortised
cost
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
Personal Banking1
|
146.0
|
145.4
|
143.6
|
142.1
|
|
141.3
|
140.4
|
138.6
|
136.6
|
|
Barclaycard Consumer UK
|
15.3
|
15.3
|
15.2
|
15.2
|
|
16.4
|
16.3
|
16.2
|
16.1
|
|
Business Banking1
|
26.3
|
26.0
|
26.5
|
27.0
|
|
26.1
|
25.5
|
11.8
|
11.8
|
|
Total loans and advances to customers at amortised
cost
|
187.6
|
186.7
|
185.3
|
184.3
|
|
183.8
|
182.2
|
166.6
|
164.5
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of customer deposits at amortised cost
|
|
|
|
|
|
|
|
|
|
|
Personal Banking1
|
154.0
|
153.4
|
152.9
|
151.9
|
|
153.1
|
152.1
|
151.1
|
149.2
|
|
Barclaycard Consumer UK
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
|
Business Banking1
|
43.3
|
42.4
|
41.4
|
40.1
|
|
40.3
|
37.2
|
36.3
|
35.2
|
|
Total customer deposits at amortised cost
|
197.3
|
195.8
|
194.3
|
192.0
|
|
193.4
|
189.3
|
187.4
|
184.4
|
|
1
|
In Q218, Wealth was reclassified from Wealth, Entrepreneurs &
Business Banking (now named Business Banking) to Personal Banking.
Comparatives have been restated.
|
|
Barclays International
|
|
|
|
|
|
|
|
|
|
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Net interest income
|
984
|
965
|
853
|
1,013
|
|
987
|
1,148
|
1,060
|
1,112
|
|
Net trading income
|
837
|
1,103
|
1,094
|
1,416
|
|
935
|
815
|
1,039
|
1,182
|
|
Net fee, commission and other income
|
1,400
|
1,222
|
1,760
|
1,379
|
|
1,397
|
1,352
|
1,511
|
1,844
|
|
Total income
|
3,221
|
3,290
|
3,707
|
3,808
|
|
3,319
|
3,315
|
3,610
|
4,138
|
|
Credit impairment charges and other provisions
|
(354)
|
(143)
|
(68)
|
(93)
|
|
(386)
|
(495)
|
(279)
|
(346)
|
|
Net operating income
|
2,867
|
3,147
|
3,639
|
3,715
|
|
2,933
|
2,820
|
3,331
|
3,792
|
|
Operating costs
|
(2,441)
|
(2,277)
|
(2,306)
|
(2,300)
|
|
(2,428)
|
(2,182)
|
(2,276)
|
(2,435)
|
|
UK bank levy
|
(210)
|
-
|
-
|
-
|
|
(265)
|
-
|
-
|
-
|
|
Litigation and conduct
|
(33)
|
(32)
|
(47)
|
(15)
|
|
(255)
|
(5)
|
4
|
(13)
|
|
Total operating expenses
|
(2,684)
|
(2,309)
|
(2,353)
|
(2,315)
|
|
(2,948)
|
(2,187)
|
(2,272)
|
(2,448)
|
|
Other net income
|
32
|
12
|
11
|
13
|
|
21
|
19
|
202
|
12
|
|
Profit before tax
|
215
|
850
|
1,297
|
1,413
|
|
6
|
652
|
1,261
|
1,356
|
|
Attributable (loss)/profit
|
(72)
|
650
|
890
|
973
|
|
(1,168)
|
359
|
819
|
837
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
Loans and advances at amortised cost
|
127.2
|
132.4
|
125.5
|
117.5
|
|
126.8
|
134.4
|
135.2
|
145.5
|
|
Trading portfolio assets
|
104.0
|
124.6
|
116.5
|
114.9
|
|
113.0
|
91.2
|
83.3
|
83.0
|
|
Derivative financial instrument assets
|
222.1
|
214.8
|
228.2
|
214.1
|
|
236.2
|
242.8
|
108.4
|
105.3
|
|
Derivative financial instrument liabilities
|
219.6
|
213.7
|
224.9
|
210.8
|
|
237.8
|
242.9
|
116.8
|
112.8
|
|
Financial assets at fair value through the income
statement
|
144.7
|
147.8
|
141.2
|
150.6
|
|
104.1
|
103.7
|
94.1
|
81.3
|
|
Total assets
|
862.1
|
900.2
|
886.5
|
866.6
|
|
856.1
|
867.1
|
681.6
|
677.2
|
|
Deposits at amortised cost
|
197.2
|
200.3
|
191.0
|
167.2
|
|
187.3
|
191.9
|
192.0
|
189.4
|
|
Loan: deposit ratio
|
65%
|
66%
|
66%
|
70%
|
|
68%
|
70%
|
70%
|
77%
|
|
Risk weighted assets
|
210.7
|
214.6
|
218.0
|
214.2
|
|
210.3
|
218.2
|
212.2
|
214.3
|
|
Period end allocated tangible equity
|
29.9
|
30.2
|
30.5
|
30.0
|
|
27.5
|
28.0
|
26.8
|
27.1
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
(0.3%)
|
8.8%
|
11.8%
|
13.4%
|
|
(15.9%)
|
5.4%
|
12.4%
|
12.5%
|
|
Average allocated tangible equity (£bn)
|
31.3
|
31.1
|
31.4
|
30.1
|
|
28.5
|
28.9
|
27.4
|
27.7
|
|
Cost: income ratio
|
83%
|
70%
|
63%
|
61%
|
|
89%
|
66%
|
63%
|
59%
|
|
Loan loss rate (bps)1
|
107
|
41
|
22
|
31
|
|
76
|
88
|
54
|
62
|
|
Net interest margin
|
3.98%
|
3.87%
|
4.03%
|
4.57%
|
|
4.31%
|
4.21%
|
4.07%
|
4.06%
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct2
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Profit before tax
|
248
|
882
|
1,344
|
1,428
|
|
261
|
657
|
1,257
|
1,369
|
|
Attributable (loss)/profit
|
(38)
|
676
|
924
|
985
|
|
(918)
|
363
|
816
|
846
|
|
Return on average allocated tangible equity
|
0.2%
|
9.2%
|
12.2%
|
13.6%
|
|
(12.4%)
|
5.5%
|
12.3%
|
12.6%
|
|
Cost: income ratio
|
82%
|
69%
|
62%
|
60%
|
|
81%
|
66%
|
63%
|
59%
|
|
1
|
Comparatives calculated based on gross loans and advances at
amortised cost prior to the balance sheet presentation change and
IAS 39 impairment charge.
|
|
2
|
Refer to pages 64 to 72 for further information and calculations of
performance measures excluding litigation and conduct.
|
|
Analysis of Barclays International
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Investment Bank
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
FICC
|
570
|
688
|
736
|
869
|
|
607
|
627
|
752
|
889
|
|
Equities
|
375
|
471
|
601
|
590
|
|
362
|
350
|
455
|
462
|
|
Markets
|
945
|
1,159
|
1,337
|
1,459
|
|
969
|
977
|
1,207
|
1,351
|
|
Banking fees
|
625
|
519
|
704
|
683
|
|
605
|
607
|
674
|
726
|
|
Corporate lending
|
243
|
197
|
198
|
240
|
|
269
|
277
|
278
|
269
|
|
Transaction banking
|
412
|
416
|
385
|
414
|
|
408
|
419
|
404
|
398
|
|
Banking
|
1,280
|
1,132
|
1,287
|
1,337
|
|
1,282
|
1,303
|
1,356
|
1,393
|
|
Other
|
(74)
|
(56)
|
(44)
|
3
|
|
1
|
-
|
1
|
38
|
|
Total income
|
2,151
|
2,235
|
2,580
|
2,799
|
|
2,252
|
2,280
|
2,564
|
2,782
|
|
Credit impairment (charges)/releases and other
provisions
|
(35)
|
3
|
23
|
159
|
|
(127)
|
(36)
|
1
|
(51)
|
|
Net operating income
|
2,116
|
2,238
|
2,603
|
2,958
|
|
2,125
|
2,244
|
2,565
|
2,731
|
|
Operating expenses
|
(2,023)
|
(1,712)
|
(1,773)
|
(1,773)
|
|
(2,129)
|
(1,656)
|
(1,760)
|
(1,930)
|
|
Litigation and conduct
|
(23)
|
(32)
|
-
|
(13)
|
|
(255)
|
(5)
|
4
|
(11)
|
|
Total operating expenses
|
(2,046)
|
(1,744)
|
(1,773)
|
(1,786)
|
|
(2,384)
|
(1,661)
|
(1,756)
|
(1,941)
|
|
Other net income
|
15
|
4
|
5
|
3
|
|
7
|
10
|
116
|
-
|
|
Profit/(loss) before tax
|
85
|
498
|
835
|
1,175
|
|
(252)
|
593
|
925
|
790
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
Loans and advances at amortised cost
|
86.4
|
93.3
|
87.8
|
81.3
|
|
88.2
|
95.4
|
96.7
|
106.8
|
|
Deposits at amortised cost
|
136.3
|
137.6
|
130.3
|
107.6
|
|
128.0
|
133.4
|
134.1
|
131.0
|
|
Risk weighted assets
|
170.9
|
175.9
|
180.4
|
181.3
|
|
176.2
|
185.2
|
178.9
|
180.6
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
(1.3%)
|
6.6%
|
9.1%
|
13.0%
|
|
(20.2%)
|
5.9%
|
11.1%
|
8.2%
|
|
Average allocated tangible equity (£bn)
|
26.0
|
25.9
|
26.4
|
25.6
|
|
24.3
|
24.8
|
23.3
|
23.5
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Profit before tax
|
108
|
530
|
835
|
1,188
|
|
3
|
598
|
921
|
801
|
|
Return on average allocated tangible equity
|
(0.9%)
|
7.0%
|
9.1%
|
13.2%
|
|
(16.1%)
|
6.0%
|
11.1%
|
8.3%
|
|
1
|
Refer to pages 64 to 72 for further information and calculations of
performance measures excluding litigation and conduct.
|
|
Analysis of Barclays International
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
Consumer, Cards and Payments
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Total income
|
1,070
|
1,055
|
1,127
|
1,009
|
|
1,067
|
1,035
|
1,046
|
1,356
|
|
Credit impairment charges and other provisions
|
(319)
|
(146)
|
(91)
|
(252)
|
|
(259)
|
(459)
|
(280)
|
(295)
|
|
Net operating income
|
751
|
909
|
1,036
|
757
|
|
808
|
576
|
766
|
1,061
|
|
Operating expenses
|
(628)
|
(565)
|
(533)
|
(527)
|
|
(564)
|
(526)
|
(516)
|
(505)
|
|
Litigation and conduct
|
(10)
|
-
|
(47)
|
(2)
|
|
-
|
-
|
-
|
(2)
|
|
Total operating expenses
|
(638)
|
(565)
|
(580)
|
(529)
|
|
(564)
|
(526)
|
(516)
|
(507)
|
|
Other net income
|
17
|
8
|
6
|
10
|
|
14
|
9
|
86
|
12
|
|
Profit before tax
|
130
|
352
|
462
|
238
|
|
258
|
59
|
336
|
566
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
Loans and advances at amortised cost
|
40.8
|
39.1
|
37.7
|
36.2
|
|
38.6
|
39.0
|
38.5
|
38.7
|
|
Deposits at amortised cost
|
60.9
|
62.7
|
60.7
|
59.6
|
|
59.3
|
58.5
|
57.9
|
58.4
|
|
Risk weighted assets
|
39.8
|
38.7
|
37.6
|
32.9
|
|
34.1
|
33.0
|
33.3
|
33.7
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Return on average allocated tangible equity
|
4.8%
|
19.8%
|
26.2%
|
15.6%
|
|
8.9%
|
2.2%
|
19.4%
|
36.4%
|
|
Average allocated tangible equity (£bn)
|
5.3
|
5.2
|
5.0
|
4.5
|
|
4.2
|
4.2
|
4.1
|
4.2
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Profit before tax
|
140
|
352
|
509
|
240
|
|
258
|
59
|
336
|
568
|
|
Return on average allocated tangible equity
|
5.4%
|
19.9%
|
28.9%
|
15.7%
|
|
9.0%
|
2.2%
|
19.4%
|
36.5%
|
|
1
|
Refer to pages 64 to 72 for further information and calculations of
performance measures excluding litigation and conduct.
|
|
Head Office
|
|
|
|
|
|
|
|
|
|
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Net interest income
|
(201)
|
(106)
|
(156)
|
(318)
|
|
(254)
|
(174)
|
108
|
(115)
|
|
Net fee, commission and other income
|
190
|
49
|
189
|
80
|
|
87
|
180
|
(24)
|
33
|
|
Total income
|
(11)
|
(57)
|
33
|
(238)
|
|
(167)
|
6
|
84
|
(82)
|
|
Credit impairment releases/(charges) and other
provisions
|
7
|
4
|
(1)
|
6
|
|
(3)
|
(13)
|
(1)
|
-
|
|
Net operating (expenses)/income
|
(4)
|
(53)
|
32
|
(232)
|
|
(170)
|
(7)
|
83
|
(82)
|
|
Operating costs
|
(69)
|
(64)
|
(36)
|
(59)
|
|
(76)
|
(112)
|
(40)
|
(49)
|
|
UK bank levy
|
(13)
|
-
|
-
|
-
|
|
(41)
|
-
|
-
|
-
|
|
GMP charge
|
(140)
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
|
Litigation and conduct
|
(12)
|
(19)
|
(31)
|
(1,535)
|
|
(75)
|
(65)
|
(1)
|
(10)
|
|
Total operating expenses
|
(234)
|
(83)
|
(67)
|
(1,594)
|
|
(192)
|
(177)
|
(41)
|
(59)
|
|
Other net income/(expenses)
|
7
|
7
|
(23)
|
7
|
|
(3)
|
(22)
|
(164)
|
-
|
|
Loss before tax
|
(231)
|
(129)
|
(58)
|
(1,819)
|
|
(365)
|
(206)
|
(122)
|
(141)
|
|
Attributable loss
|
(236)
|
(148)
|
(122)
|
(1,699)
|
|
(371)
|
(199)
|
(175)
|
(123)
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance sheet information
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
Total assets
|
21.5
|
18.6
|
17.2
|
40.4
|
|
39.7
|
51.7
|
17.3
|
74.5
|
|
Risk weighted assets
|
26.0
|
26.8
|
26.3
|
31.2
|
|
31.8
|
36.1
|
26.2
|
52.9
|
|
Period end allocated tangible equity
|
4.9
|
4.2
|
3.6
|
3.0
|
|
10.0
|
10.4
|
9.0
|
8.8
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures
|
|
|
|
|
|
|
|
|
|
|
Average allocated tangible equity (£bn)
|
2.9
|
3.4
|
2.0
|
4.3
|
|
10.0
|
10.5
|
8.8
|
7.6
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance measures excluding
litigation and conduct1
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Loss before tax
|
(219)
|
(110)
|
(27)
|
(284)
|
|
(290)
|
(141)
|
(121)
|
(131)
|
|
Attributable loss
|
(220)
|
(137)
|
(98)
|
(192)
|
|
(307)
|
(134)
|
(174)
|
(116)
|
|
1
|
Refer to pages 64 to 72 for further information and calculations of
performance measures excluding litigation and conduct.
|
|
Barclays Non-Core
|
Year ended
|
Year ended
|
|
|
31.12.18
|
31.12.17
|
|
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
|
-
|
(256)
|
|
Litigation and conduct
|
-
|
(28)
|
|
Total operating expenses
|
-
|
(284)
|
|
Other net income
|
-
|
197
|
|
Loss before tax
|
-
|
(647)
|
|
Attributable loss
|
-
|
(419)
|
|
|
|
|
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q217
|
Q117
|
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Net interest income
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(123)
|
11
|
|
Net trading income
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(411)
|
(77)
|
|
Net fee, commission and other income
|
-
|
-
|
-
|
-
|
|
-
|
-
|
78
|
(8)
|
|
Total income
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(456)
|
(74)
|
|
Credit impairment charges and other provisions
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(27)
|
(3)
|
|
Net operating expenses
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(483)
|
(77)
|
|
Operating expenses
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(108)
|
(148)
|
|
Litigation and conduct
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(19)
|
(9)
|
|
Total operating expenses
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(127)
|
(157)
|
|
Other net income/(expenses)
|
-
|
-
|
-
|
-
|
|
-
|
-
|
204
|
(7)
|
|
Loss before tax
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(406)
|
(241)
|
|
Tax credit
|
-
|
-
|
-
|
-
|
|
-
|
-
|
207
|
75
|
|
Loss after tax
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(199)
|
(166)
|
|
Non-controlling interests
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(8)
|
(9)
|
|
Other equity instrument holders
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(19)
|
(18)
|
|
Attributable loss
|
-
|
-
|
-
|
-
|
|
-
|
-
|
(226)
|
(193)
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
Derivative financial instrument assets
|
-
|
-
|
-
|
-
|
|
-
|
-
|
150.3
|
164.2
|
|
Derivative financial instrument liabilities
|
-
|
-
|
-
|
-
|
|
-
|
-
|
143.0
|
155.3
|
|
Financial assets designated at fair value
|
-
|
-
|
-
|
-
|
|
-
|
-
|
12.1
|
13.4
|
|
Total assets
|
-
|
-
|
-
|
-
|
|
-
|
-
|
233.0
|
249.1
|
|
Customer deposits
|
-
|
-
|
-
|
-
|
|
-
|
-
|
11.8
|
12.9
|
|
Risk weighted assets
|
-
|
-
|
-
|
-
|
|
-
|
-
|
22.8
|
27.4
|
|
Africa Banking
|
Year ended
|
Year ended
|
|
31.12.18
|
31.12.171
|
|
|
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 Africa Banking income statement represents five months of
results as a discontinued operation to 31 May 2017.
|
|
|
Q418
|
Q318
|
Q218
|
Q118
|
|
Q417
|
Q317
|
Q2171
|
Q117
|
|
Income statement information
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Net interest income
|
-
|
-
|
-
|
-
|
|
-
|
-
|
407
|
617
|
|
Net fee, commission and other income
|
-
|
-
|