Barclays Plc · LSE:BARC
Barclays — Debt Investor Presentation (July 2025)
26 slides from Barclays's debt investor presentation, Jul 29, 2025
Slide 1: H1 2025 Fixed Income Investor Call
H1 2025 Fixed Income Investor Call 29th July 2025
Slide 2: Anna Cross, Group Finance Director
Anna Cross Group Finance Director
Slide 3: Group performance against financial targets; on the path to 2026 delivery
Group performance against financial targets; on the path to 2026 delivery Barclays Q2 2025 Results July 2025 3 Targets Q225 actuals H125 actuals 2025 guidance 2026 targets Statutory RoTE 12.3% 13.2% c.11% >12% Progressive At least £10bn3 Total payout £1.4bn1 (up 21% vs. H124) increase vs 20242 2024-
Slide 4: Halfway through the plan, confident in achieving our targets
Halfway through the plan, confident in achieving our targets Barclays Q2 2025 Results July 2025 4 Confident in achieving our 2025 guidance and 2026 RoTE target Progress towards a more balanced Group Group RoTE Risk weighted assets (£bn) 343 353 £17bn of c.£30bn UK business UK businesses 102 119 grow
Slide 5: Q225 LLR of 44bps; maintaining through the cycle guidance of 50-60bps
Q225 LLR of 44bps; maintaining through the cycle guidance of 50-60bps Barclays Q2 2025 Results July 2025 5 190 Loan loss rate (bps) Impairment charge (£m) 800 636 US Consumer Bank 610 582 562 600 264 309 312 438 456 140 411 411 395 Q223 Q224 Q225 400 Group 200 90 372 384 469 661 61 Q223 Q224 Q225 54
Slide 6: Daniel Fairclough, Group Treasurer
Daniel Fairclough Group Treasurer
Slide 7: Robust capital position with 14.0% CET1 ratio
Robust capital position with 14.0% CET1 ratio Barclays Q2 2025 Results July 2025 7 Q225 CET1 ratio movements (8bps) 47bps (29bps) 5bps c.(30bps) H125: c.100bps capital generation 14.0% 13.9% 13.7% Q125 Attributable Dividend RWA Other Q225 H125 announced Q225 rebased profit accrual excl. FX incl. FX
Slide 8: Operating with a prudent buffer to each tier of capital requirements
Operating with a prudent buffer to each tier of capital requirements Barclays Q2 2025 Results July 2025 8 Q225: AT1 and T2 needs managed on a total capital basis Balanced total capital structure • Operating with prudent buffers at each part of the capital stack 20.5% to manage FX and RWA movements 2
Slide 9: MREL position well established
MREL position well established Barclays Q2 2025 Results July 2025 9 Q225: MREL minimum requirements HoldCo issuance 35.4% (£125.0bn) 30.7% • c.£14bn issuance plan for 2025, of which c.£10bn has been issued year- (£108.3bn) to-date CCyB: 1.0% CCB: 2.5% Senior: 14.9% • Pre-funding may be considered su
Slide 10: Prudently managed LCR supported by a highly liquid balance sheet
Prudently managed LCR supported by a highly liquid balance sheet Barclays Q2 2025 Results July 2025 10 Average LCR1 Average NSFR2 70% of Liquidity Pool held in cash HTC 172% 175% 178% 137% 138% 135% 136% 136% £29bn 156% 161% 9% FVOCI £71bn 21% FY22 FY23 FY24 Q125 Q225 FY22 FY23 FY24 Q125 Q225 Liquid
Slide 11: Diverse and stable deposit base of £565bn
Diverse and stable deposit base of £565bn Barclays Q2 2025 Results July 2025 11 H125 deposit balances: Group +£4bn Investment Bank: International Corporate Bank1 Barclays UK: Personal Banking £108bn, +£4bn Banks3 £189bn, -£2bn £19bn +£6bn Investment Bank: Treasury Deposits Private Bank & Wealth Mana
Slide 12: £2.8bn structural hedge income in H125
£2.8bn structural hedge income in H125 Barclays Q2 2025 Results July 2025 12 Gross hedge 14.0 expected to deliver multiyear income growth beyond 2026 4.1% 4.0% Q225: 3.7% 12.0 3.4% 10.0 Q225: 2.5% GBP 5yr 1.0% 2.0% swap 08.0 rate1 +c.£1bn 1.5% Average 0.9% +>£1bn 0.7% hedge yield 06.0 2 +£1.1bn +£1.
Slide 13: Targeting Barclays PLC to be “A” composite across all indices over time
Targeting Barclays PLC to be “A” composite across all indices over time Barclays Q2 2025 Results July 2025 13 All credit ratings affirmed in 2024 Current Senior long and short term ratings • HoldCo Senior composite “A” rated for two of four Moody’s Standard & Poor’s Fitch indices • One further upgra
Slide 14: Q&A
Q&A
Slide 15: Appendix
Appendix
Slide 16: CET1 ratio in relation to our minimum requirements
CET1 ratio in relation to our minimum requirements Barclays Q2 2025 Results July 2025 16 Q225: CET1 minimum requirements MDA 12.2% CCyB 1.0% CCB 2.5% • Plan to operate towards the upper half of our 13-14% CET1 target G-SII 1.5% range, as we have been doing 14.0% • Continue to have flexibility to man
Slide 17: Group RWAs broadly flat quarter-on-quarter
Group RWAs broadly flat quarter-on-quarter Barclays Q2 2025 Results July 2025 17 Risk weighted assets (£bn) IB % of £1.2bn decrease Group: 59% 58% 56% driven by FX 56% 1.1 1.1 (0.1) 0.5 (0.9) (0.1) £4.4bn decrease driven by FX 351.4 351.3 353.0 336.9 Q223 Q224 Q125 Barclays UK UK Corporate Private B
Slide 18: Leverage ratio above regulatory requirements
Leverage ratio above regulatory requirements Barclays Q2 2025 Results July 2025 18 Q225: leverage minimum requirements Reg Min 4.18% CCLB 0.40% G-SII 0.53% 5.0% 4.7% BoE minimum leverage 3.25% requirement UK Leverage requirement UK spot UK average
Slide 19: c.£14bn issuance plan for 2025, of which c.£10bn has been issued YTD
c.£14bn issuance plan for 2025, of which c.£10bn has been issued YTD Barclays Q2 2025 Results July 2025 19 2025 HoldCo benchmark Annual HoldCo issuance volume (£bn) and currency1,2 issuance 15.0 15.1 c.14 14.1 plan Jan-25: GBP 0.75bn 12.1 11.0 Senior 8.6 10.7 7.8 9.8 11.8 Feb-25: USD 1.5bn AT1 10.2
Slide 20: Performance of the structural hedge over time
Performance of the structural hedge over time Barclays Q2 2025 Results July 2025 20 The structural hedge smooths income and protects against sharp downwards movement in interest rates 6% 5% 4% 3% 2% 1% 0% -1% Jan 08 Jan 09 Jan 10 Jan 11 Jan 12 Jan 13 Jan 14 Jan 15 Jan 16 Jan 17 Jan 18 Jan 19 Jan 20
Slide 21: Low interest rate sensitivity, with four rate cuts expected in 2025
Low interest rate sensitivity, with four rate cuts expected in 2025 Barclays Q2 2025 Results July 2025 21 Illustrative -25bps interest rate sensitivity1 Year 1 Year 2 Year 3 • Illustrative Group income impact from a 25bps downward parallel shift in interest rate curves • The sensitivity is calculate
Slide 22: Global Markets risk managed prudently
Global Markets risk managed prudently Barclays Q2 2025 Results July 2025 22 Global Markets: VaR Global Markets: Daily trading income distribution2 Russia/ US banking £60m Pandemic Ukraine crisis Average H1: 2019-24 H125 £40m Two loss days Average in H125 VaR1 £23m £20m <£0m £0-15m £16-30m £31-50m £5
Slide 23: Our US Cards book is high quality and stable, with no signs of stress
Our US Cards book is high quality and stable, with no signs of stress Barclays Q2 2025 Results July 2025 23 US consumer indebtedness lower versus historic levels1 Our book is positioned in the super-prime segment 2008 crisis Pandemic 790 10% 25% Super-prime 740 8% 20% Prime Q225 USCB 690 6% 15% aver
Slide 24: Long track record of growth and returns in USCB
Long track record of growth and returns in USCB Barclays Q2 2025 Results July 2025 24 Why partners choose Barclays Long term mid-teens RoTE business 40 Covid-19: 25% 22% impacted by impairment 18% reserve build 20% 16% 17% 16% 30 15% 18% 17% 13% Avg 15% 20+ years of expertise in specialised partner
Slide 25: Barclays rating composition for senior debt
Barclays rating composition for senior debt Barclays Q2 2025 Results July 2025 25 Moody’s Standard & Poor’s Fitch BBUK BBUK BBUK BPLC BBPLC BPLC BBPLC BPLC BBPLC PLC PLC PLC Macro profile Strong+ Strong+ Strong+ Anchor bbb+ bbb+ bbb+ Operating environment aa- aa- aa- Financial profile a3 baa1 a3 Bus
Slide 26: Disclaimer
Disclaimer Barclays Q2 2025 Results July 2025 26 Important Notice The terms Barclays or Group refer to Barclays PLC together with its subsidiaries. The information, statements and opinions contained in this presentation do not constitute a public offer under any applicable legislation, an offer to s