Barclays Plc · LSE:BARC
Barclays — Debt Investor Presentation (April 2018)
57 slides from Barclays's debt investor presentation, Apr 26, 2018
Slide 1: Barclays PLC Fixed Income Investor Presentation
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Barclays PLC Fixed Income Investor Presentation Q1 2018 Results Announcement 26 April 2018 | Barclays Q1 2018 Fixed Income Investor Presentation
Slide 2: Strategy, Targets and Guidance
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Strategy, Targets and Guidance | Barclays Q1 2018 Fixed Income Investor Presentation 1 (From prior page) This presentation must be read and construed
Slide 3: Focus on profitability and returns targets
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Focus on profitability and returns targets Q118 highlights Group targets >9% in 2019 RoTE2 >10% in 2020 Double digit returns – Group 11.0%1 c.13% Suc
Slide 4: Double digit returns across both operating businesses
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Double digit returns across both operating businesses Continued strong execution of our strategy Q118 performance1 Barclays UK – RoTE of 15.7%1 Mor
Slide 5: Diversified Transatlantic Consumer and Wholesale Bank
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Diversified Transatlantic Consumer and Wholesale Bank Focused on improving RoTE and increasing cash returns to shareholders Driving double digit retu
Slide 6: Operating cost focus underpinning RoTE targets
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Operating cost focus underpinning RoTE targets Improving the mix of the cost base to drive higher returns Targeting cost: income ratio Further absolu
Slide 7: Performance
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Performance | Barclays Q1 2018 Fixed Income Investor Presentation
Slide 8: Q118 Group highlights
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Q118 Group highlights Double digit returns1 and resolution of material legacy conduct matter Financial performance1 Focus on improved profitability
Slide 9: Q118 Barclays UK results
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Q118 Barclays UK results Underlying growth in customer balances and ongoing investment in digital banking, with RoTE of 15.7%1 Financial performance1
Slide 10: Barclays UK: Significant opportunity with our 24 million customers
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Barclays UK: Significant opportunity with our 24 million customers by leveraging digital and data Significant growth in digital banking – YoY Develop
Slide 11: Q118 Barclays International results
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Q118 Barclays International results Strong CIB performance and continued investment for growth in CC&P Financial performance1 RoTE improved to 13.6
Slide 12: Q118 Barclays International: Corporate & Investment Bank results
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Q118 Barclays International: Corporate & Investment Bank results Improved Markets income and Banking fee share gains delivered 13.0% RoTE Financial p
Slide 13: Sustainable improvement in CIB returns, underpinned by strength in Markets
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Sustainable improvement in CIB returns, underpinned by strength in Markets Market share Income gains FY173 growth Q1184 Rebuild of Markets leadersh
Slide 14: Q118 Barclays International: Consumer, Cards & Payments results
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Q118 Barclays International: Consumer, Cards & Payments results Investing in growth across CC&P businesses Financial performance1 Income decrease r
Slide 15: Head Office
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Head Office Post Non-Core integration Negative income in Q118 reflected Q117 Q217 Q317 Q417 Q118 • c.£90m impact from certain legacy capital instru
Slide 16: Capital & Leverage
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Capital & Leverage | Barclays Q1 2018 Fixed Income Investor Presentation
Slide 17: Strong profit generation offset by RMBS settlement and PPI
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Strong profit generation offset by RMBS settlement and PPI CET1 ratio1 impacted materially by L&C 42bps 13bps Target of 13.3% 20bps 10bps 13.3% 61bps
Slide 18: Strong CET1 and leverage ratios
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Strong CET1 and leverage ratios CET1 ratio • CET1 ratio decreased by 60bps in the quarter to 12.7% driven (60)bps largely by: − 42bps from organic ca
Slide 19: Managing capital position above mandatory distribution restrictions…
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Managing capital position above mandatory distribution restrictions… Illustrative evolution of minimum CET1 requirements and buffers Minimum CRD IV C
Slide 20: …and above stress test hurdles
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES …and above stress test hurdles Barclays’ expected hurdle rate for 2018 BoE stress test1 Minimum CRD IV CET1 requirement Countercyclical Buffer (CCyB)
Slide 21: Transition to CRD IV capital structure well established
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Transition to CRD IV capital structure well established Illustrative evolution of CRD IV capital structure Well managed and balanced total capital st
Slide 22: ADI position supports strong distribution capacity
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES ADI position supports strong distribution capacity Distribution capacity as at 31 December 2017 (£m) Distributable items ADI BPLC dividend payments B
Slide 23: Leverage requirements
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Leverage requirements Requirements Requirements Disclosure Disclosure obligations obligations Basis Basisof of preparation preparation 01- Jan-18 01-
Slide 24: MREL, Funding and Liquidity
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES MREL, Funding and Liquidity | Barclays Q1 2018 Fixed Income Investor Presentation
Slide 25: MREL issuance remains on track
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES MREL issuance remains on track HoldCo MREL position and requirement Well advanced on HoldCo issuance plan including requisite buffers 29.1% 2018 issu
Slide 26: Proactive transition to HoldCo capital and funding model
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Proactive transition to HoldCo capital and funding model HoldCo issuance by year1 Senior unsecured T2 AT1 Total: £2.4bn • The Group has continued to
Slide 27: Continued progress on transition to HoldCo capital and funding model
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Continued progress on transition to HoldCo capital and funding model Regulatory PRA transitional regulatory capital capital Outstanding Outstanding t
Slide 28: High quality liquidity and funding position with a conservatively positioned liquidity pool
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES High quality liquidity and funding position with a conservatively positioned liquidity pool and stable LDR LCR remains in prudential surplus Loan: de
Slide 29: Robust group funding profile
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Robust group funding profile Conservative and stable funding profile (£bn) Decrease in reliance on <1yr wholesale funding Customer deposits Sub. Debt
Slide 30: Wholesale funding composition as at December 2017
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Wholesale funding composition as at 31 December 20171 <1 1-3 3-6 6-12 Total 1-2 2-3 3-4 4-5 As at 31 December 2017 (£bn) >5 years Total month months
Slide 31: Divisions and Legal Entities
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Divisions and Legal Entities | Barclays Q1 2018 Fixed Income Investor Presentation
Slide 32: Simplified business divisions, aligned to legal entity construct
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Simplified business divisions, aligned to legal entity construct Barclays PLC Barclays International Barclays UK and Head Office1 Divisiona
Slide 33: Funding sources of Barclays Bank UK PLC and Barclays Bank PLC
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Funding sources of Barclays Bank UK PLC and Barclays Bank PLC (and subsidiaries) Barclays PLC Barclays Bank UK PLC Barclays Bank PLC (and s
Slide 34: Preparation for Brexit
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Preparation for Brexit Plans in place to serve EU clients post Brexit Brexit preparation: Plans in place to expand Barclays Bank Ireland (B
Slide 35: 2017 P&L bridge from Barclays PLC consolidated to pro forma Barclays Bank PLC
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES 2017 P&L bridge from Barclays PLC consolidated to pro forma Barclays Bank PLC post ring-fencing BPLC BPLC to BBPLC BBPLC Less pro forma Pro
Slide 36: 2017 Breakdown of pro forma BBUKPLC and BBPLC P&Ls post ring-fencing
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES 2017 Breakdown of pro forma BBUKPLC and BBPLC P&Ls post ring-fencing o/w Head Office o/w Head Office o/w o/w o/w H117 Pro forma division an
Slide 37: 2017 Balance Sheet bridge to pro forma BBUKPLC and BBPLC
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES 2017 Balance Sheet bridge to pro forma BBUKPLC and BBPLC post ring-fencing BPLC to o/w o/w BPLC BBPLC FY17 (£m) BBPLC pro forma pro forma c
Slide 38: Asset Quality
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Asset Quality | Barclays Q1 2018 Fixed Income Investor Presentation
Slide 39: IFRS 9 and impairment
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES IFRS 9 and impairment IFRS 9 day 1 impact Q118 impairment Increase in impairment stock of £2.8bn on 1 Jan 2018 BUK impairment included a single n
Slide 40: Credit Ratings
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Credit Ratings | Barclays Q1 2018 Fixed Income Investor Presentation
Slide 41: Ratings remain a key strategic priority
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Ratings remain a key strategic priority Current Senior Long and Confirmed ratings of BPLC, BBPLC and BBUKPLC Fitch Moody’s Standard and Poor’s Rating
Slide 42: Barclays rating composition for senior debt
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Barclays rating composition for senior debt Fitch Moody’s Standard & Poor’s BPLC BBPLC BBUKPLC BPLC BBPLC BBUKPLC BPLC BBPLC BBUKPLC Viability Rating
Slide 43: Barclays rating composition for subordinated debt
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Barclays rating composition for subordinated debt Fitch Moody’s Standard & Poor’s Baseline Stand-alone Viability Stand-Alone a a Credit baa3 baa3 bbb
Slide 44: Appendix
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Appendix | Barclays Q1 2018 Fixed Income Investor Presentation
Slide 45: Litigation & conduct and other items – Q118 vs. prior year
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Litigation & conduct and other items – Q118 vs. prior year Litigation & conduct (£m) Q118 Q117 RMBS (1,420) - Head Office PPI (400) - Barclays UK Oth
Slide 46: Q118 Group results
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Q118 Group results Three months ended (£m) Mar-18 Mar-17 % change Excluding L&C – Three months ended (£m) Mar-18 Mar-17 % change Income 5,358 5,823 (
Slide 47: Q118 Barclays UK results
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Q118 Barclays UK results Business performance Excluding L&C – Three months ended (£m) Mar-18 Mar-17 % change Three months ended (£m) Mar-18 Mar-17 %
Slide 48: Q118 Barclays International results
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Q118 Barclays International results Business performance Excluding L&C – Three months ended (£m) Mar-18 Mar-17 % change Three months ended (£m) Mar-1
Slide 49: Q118 Barclays International: CIB and CC&P results
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Q118 Barclays International: Corporate & Investment Bank and Consumer, Cards and Payments results CIB Business performance CC&P Business performance
Slide 50: Head Office and Non-Core results
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Head Office and Non-Core results Head Office Business performance Non-Core Business performance Three months ended (£m) Mar-18 Mar-17 Three months en
Slide 51: Income and margins – Q118
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Income and margins – Q118 NII (£m) – Three months ended Mar-18 Mar-17 % change Q118 performance metrics – Barclays UK 1,493 1,511 (1%) • Combined Bar
Slide 52: UK approach to resolution
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES UK approach to resolution Illustrative UK resolution loss allocation waterfall assuming multiple OpCos1 OpCo waterfall Intercompany investments HoldC
Slide 53: Abbreviations
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Abbreviations AP Attributable Profit L&A Loans and advances £ GBP Great British Pound BAGL Barclays Africa Group Limited L&C Litigation & conduct $ U
Slide 54: Index
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Index Version 2 Strategy, Targets and Guidance 2 Capital & Leverage 16 • Focus on profitability and returns targets 3 • Strong profit generation offs
Slide 55: Index
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Index Version 2 Divisions and Legal Entities 31 Appendix 44 • Simplified business divisions, aligned to legal entity construct 32 • Litigation & cond
Slide 56: Contact – Debt Investor Relations Team
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Contact – Debt Investor Relations Team Lisa Bartrip James Cranstoun Dan Colvin Alysha Jamani +44 (0)20 7773 0708 +44 (0)20 7773 1630 +44 (0)20 7116 6
Slide 57: Disclaimer
STRATEGY, TARGETS CAPITAL MREL, FUNDING DIVISIONS PERFORMANCE ASSET QUALITY CREDIT RATINGS APPENDIX & GUIDANCE & LEVERAGE & LIQUIDITY & LEGAL ENTITIES Disclaimer Important Notice The information, statements and opinions contained in this presentation do not constitute a public offer under any applic