1st Quarter Results

About this update from Barclays Plc

[{"type":"text","content":"\n \n Barclays PLC \n Q126 Results Announcement \n 31 March 2026 \n   \n Notes \n   \n The terms Barclays and Group refer to Barclays PLC together with its subsidiaries. Unless otherwise stated, the income statement analysis compares the three months ended 31 March 2026 to the corresponding three months of 2025 and balance sheet analysis as at 31 March 2026 with comparatives relating to 31 December 2025 and 31 March 2025. The abbreviations '£m' and '£bn' represent millions and thousands of millions of Pounds Sterling respectively; the abbreviations '$m' and '$bn' represent millions and thousands of millions of US Dollars respectively; and the abbreviations '€m' and '€bn' represent millions and thousands of millions of Euros respectively. \n   \n There are a number of key judgement areas, for example impairment calculations, which are based on models and which are subject to ongoing adjustment and modifications. Reported numbers reflect best estimates and judgements at the given point in time. \n   \n Relevant terms that are used in this document but are not defined under applicable regulatory guidance or International Financial Reporting Standards (IFRS) are explained in the results glossary, which can be accessed at home.barclays/investor-relations. \n   \n The information in this announcement, which was approved by the Board of Directors on 27 April 2026, does not comprise statutory accounts within the meaning of Section 434 of the Companies Act 2006. Statutory accounts for the year ended 31 December 2025, which contain an unmodified audit report under Section 495 of the Companies Act 2006 (which does not make any statements under Section 498 of the Companies Act 2006) will be delivered to the Registrar of Companies in accordance with Section 441 of the Companies Act 2006. \n   \n These results will be furnished on Form 6-K to the US Securities and Exchange Commission (SEC) as soon as practicable following publication of this document. Once furnished to the SEC, a copy of the Form 6-K will be available from the SEC's website at www.sec.gov . \n   \n Barclays is a frequent issuer in the debt capital markets and regularly meets with investors via formal roadshows and other ad hoc meetings. Consistent with its usual practice, Barclays expects that from time to time over the coming quarter it will meet with investors globally to discuss these results and other matters relating to the Group . \n   \n Non-IFRS performance measures \n   \n Barclays' management believes that the non-IFRS performance measures included in this document provide valuable information to the readers of the financial statements as they enable the reader to identify a more consistent basis for comparing the businesses' performance between financial periods and provide more detail concerning the elements of performance which the managers of these businesses are most directly able to influence or are relevant for an assessment of the Group. They also reflect an important aspect of the way in which operating targets are defined and performance is monitored by Barclays' management. However, any non-IFRS performance measures in this document are not a substitute for IFRS measures and readers should consider the IFRS measures as well. Refer to the appendix on pages 40 to 48 for definitions and calculations of non-IFRS performance measures included throughout this document, and reconciliations to the most directly comparable IFRS measures. \n   \n Forward-looking statements \n   \n This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and Section 27A of the US Securities Act of 1933, as amended, with respect to the Group. Barclays cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as 'may', 'will', 'seek', 'continue', 'aim', 'anticipate', 'target', 'projected', 'expect', 'estimate', 'intend', 'plan', 'goal', 'believe', 'achieve' or other words of similar meaning. Forward-looking statements can be made in writing but also may be made verbally by directors, officers and employees of the Group (including during management presentations) in connection with this document. Examples of forward-looking statements include, among others, statements or guidance regarding or relating to the Group's future financial position, business strategy, income levels, costs, assets and liabilities, impairment charges, provisions, capital leverage and other regulatory ratios, capital distributions (including policy on dividends and share buybacks), return on tangible equity, projected levels of growth in banking and financial markets, industry trends, any commitments and targets (including sustainability-related commitments and targets), plans and objectives for future operations, International Financial Reporting Standards (\"IFRS\") and other statements that are not historical or current facts. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Forward-looking statements speak only as at the date on which they are made. Forward-looking statements may be affected by a number of factors, including, without limitation: changes in legislation, regulations, governmental and regulatory policies, expectations and actions, voluntary codes of practices and the interpretation thereof, changes in IFRS and other accounting standards, including practices with regard to the interpretation and application thereof and emerging and developing sustainability reporting standards (including emissions accounting methodologies); changes in tax laws and practice; the outcome of current and future legal proceedings and regulatory investigations; the Group's ability along with governments and other stakeholders to measure, manage and mitigate the impacts of climate change effectively or navigate inconsistencies and conflicts in the manner in which climate policy is implemented in the regions where the Group operates, including as a result of the adoption of rules and regulations taking a different or opposing position on sustainability matters, or other forms of governmental and regulatory action against sustainability policies; environmental, social and geopolitical risks and incidents and similar events beyond the Group's control; financial crime; the impact of competition in the banking and financial services industry; capital, liquidity, leverage and other regulatory rules and requirements applicable to past, current and future periods; UK, US, Eurozone and global macroeconomic and business conditions, including inflation; volatility in credit and capital markets; market related risks such as changes in interest rates and foreign exchange rates; reforms to benchmark interest rates and indices; higher or lower asset valuations; changes in credit ratings of any entity within the Group or any securities issued by it; changes in counterparty risk; changes in consumer behaviour; changes in trade policy, including the imposition of tariffs or other protectionist measures; the direct and indirect consequences of the conflicts in the Middle East and Ukraine on European and global macroeconomic conditions, political stability and financial markets; changes in US legislation and policy; developments in the UK's relationship with the European Union; the risk of cyberattacks, information or security breaches, technology failures or operational disruptions and any subsequent impact on the Group's reputation, business or operations; the use of new technology, including artificial intelligence; the Group's ability to access funding; and the success of acquisitions, disposals, joint ventures and other strategic transactions. A number of these factors are beyond the Group's control. As a result, the Group's actual financial position, results, financial and non-financial metrics or performance measures or its ability to meet commitments and targets may differ materially from the statements or guidance set forth in the Group's forward-looking statements. In setting its targets and outlook for the period 2026-2028, Barclays has made certain assumptions about the macroeconomic environment, including, without limitation, inflation, interest and unemployment rates, the different markets and competitive conditions in which Barclays operates, and its ability to grow certain businesses and achieve costs savings and other structural actions. Additional risks and factors which may impact the Group's future financial condition and performance are identified in Barclays PLC's filings with the US Securities and Exchange Commission (\"SEC\") (including, without limitation, Barclays PLC's Annual Report on Form 20-F for the financial year ended 31 December 2025), which are available on the SEC's website at www.sec.gov . \n   \n Subject to Barclays PLC's obligations under the applicable laws and regulations of any relevant jurisdiction (including, without limitation, the UK and the US) in relation to disclosure and ongoing information, we undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. \n   \n Performance Highlights \n   \n For Q126, Barclays delivered a return on tangible equity (RoTE) of 13.5%, announced a £500m buyback and reiterated all 2026 and 2028 targets \n   \n C. S. Venkatakrishnan, Group Chief Executive, commented \n \"Barclays delivered another solid quarter with a 13.5% RoTE in Q126, and double-digit returns in all our businesses. This was despite a one-off charge and impairments in the quarter. Top line income grew 6% year-on-year, driven by broad based divisional performance including in the Investment Bank, where we generated over £4bn quarterly income for the first time. The cost: income ratio improved to 56% and earnings per share (EPS) grew by 8% to 14.1p. Our capital position remains robust with a 14.1% common equity tier 1 (CET1) ratio and we are announcing a £500m buyback today. The breadth and quality of our businesses mean we remain confident in delivering all our financial targets across a range of environments. This includes greater than 12% RoTE in 2026 and greater than 14% RoTE in 2028.\" \n   \n \n \n \n \n ● \n \n \n Q126 Group RoTE of 13.5% (Q125: 14.0%) with EPS of 14.1p (Q125: 13.0p) \n \n \n \n \n ● \n \n \n Announced intention to initiate a share buyback of up to £500m following the completion of the ongoing £1bn share buyback announced at FY25 Results \n \n \n \n \n ● \n \n \n Q126 Group net interest income (NII) excluding Barclays Investment Bank (IB) and Head office of £3.4bn, of which Barclays UK was £2.0bn, on track to meet the 2026 guidance of greater than £13.5bn and £8.1-£8.3bn respectively \n \n \n \n \n ● \n \n \n 5% growth in UK lending year-on-year in Q126 \n \n \n \n \n \n \n \n - \n \n \n Delivered £22bn of c.£30bn planned UK risk weighted assets (RWAs) growth since 2024¹, of which £15bn was organic growth \n \n \n \n \n ● \n \n \n Q126 Group cost: income ratio improving to 56% (Q125: 57%) driven by positive operating leverage \n \n \n \n \n \n \n \n - \n \n \n Delivered c.£150m of gross cost efficiency savings in Q126 \n \n \n \n \n ● \n \n \n Q126 Group loan loss rate (LLR) of 74bps included a £0.2bn single name impairment charge in the IB which had a c.20bps impact on Group LLR \n \n \n \n \n \n \n \n - \n \n \n As a result, Group LLR in FY26 is expected to be around the top of the 50-60bps through the cycle guidance range \n \n \n \n \n ● \n \n \n Strong balance sheet with CET1 ratio of 14.1% \n \n \n \n \n \n \n \n - \n \n \n Taking into account the impact of the £500m share buyback announced today, the CET1 ratio as of 31 March 2026 would be reduced to 13.9%, at the top end of the 13-14% range \n \n \n \n \n \n \n \n \n \n \n   \n Key financial metrics: \n   \n \n \n \n \n   \n \n \n Income \n \n \n Profit before tax \n \n \n Attributable profit \n \n \n Cost: income ratio \n \n \n LLR \n \n \n RoTE \n \n \n EPS \n \n \n TNAV per share \n \n \n CET1 ratio \n \n \n Total capital return \n \n \n \n \n Q126 \n \n \n £8.2bn \n \n \n £2.8bn \n \n \n £1.9bn \n \n \n 56% \n \n \n 74bps \n \n \n 13.5% \n \n \n 14.1p \n \n \n 405p \n \n \n 14.1% \n \n \n £0.5bn \n \n \n \n \n   \n Q126 Performance highlights: \n   \n \n \n \n \n ● \n \n \n Group RoTE was 13.5% (Q125: 14.0%) with profit before tax of £2.8bn (Q125: £2.7bn). All divisions delivered double-digit RoTE in Q126 \n \n \n \n \n ● \n \n \n Group income of £8.2bn increased 6% year-on-year . Group NII excluding IB and Head Office was £3.4bn, up 12% year-on-year \n \n \n \n \n \n \n \n - \n \n \n Barclays UK income increased 9%, as higher structural hedge income was partially offset by retail deposit dynamics \n \n \n \n \n \n \n \n - \n \n \n Barclays UK Corporate Bank (UKCB) income increased 10%, reflecting higher average deposit and lending balances, and higher structural hedge income \n \n \n \n \n \n \n \n - \n \n \n Barclays Private Bank and Wealth Management (PBWM) income was broadly stable, as growth from higher client balances was offset by the impact of deposit mix \n \n \n \n \n \n \n \n - \n \n \n Barclays Investment Bank (IB) income increased 4%, driven by Global Markets and Investment Banking fees partially offset by the strengthening of average GBP against USD \n \n \n \n \n \n \n \n - \n \n \n Barclays US Consumer Bank (USCB) income increased 14%, driven by business growth and increased purchase activity, partially offset by the strengthening of average GBP against USD \n \n \n \n \n ● \n \n \n Group total operating expenses were £4.5bn, up 4% year on year \n \n \n \n \n \n \n \n - \n \n \n Group operating costs increased 2% to £4.4bn, reflecting further investment spend, business growth and inflation, partially offset by c.£0.2bn of cost efficiency savings and FX movements \n \n \n \n \n \n \n \n - \n \n \n Litigation and conduct charges of £0.1bn primarily reflected an increase in the provision for the UK Financial Conduct Authority (FCA) motor finance redress scheme \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Represents RWAs from business growth in Barclays UK, UK Corporate Bank and Private Bank and Wealth Management since January 2024, excluding the effects of securitisations, model updates and other methodological changes. Also excludes additional Operational Risk RWAs related to organic growth. \n \n \n \n \n   \n Q126 Performance highlights (continued): \n   \n \n \n \n \n ● \n \n \n Credit impairment charges were £0.8bn (Q125: £0.6bn ) with an LLR of 74bps (Q125: 61bps), including a £0.2bn single name charge in the IB \n \n \n \n \n ● \n \n \n CET1 ratio of 14.1% (December 2025: 14.3%), with RWAs of £364.5bn (December 2025: £356.8bn). Tangible net asset value (TNAV) per share of 405p (December 2025: 409p) \n \n \n \n \n   \n Group financial targets 1 : \n   \n 2026 targets \n \n \n \n \n ● \n \n \n Returns : Group RoTE of greater than 12% \n \n \n \n \n ● \n \n \n Capital returns 2 : plan to return at least £10bn of capital to shareholders between 2024 and 2026, through dividends and share buybacks, with a continued preference for buybacks \n \n \n \n \n \n \n \n - \n \n \n Progressive increase in total capital returns versus 2025 \n \n \n \n \n \n \n \n - \n \n \n Share buybacks announced quarterly \n \n \n \n \n \n \n \n - \n \n \n Dividends to be paid semi-annually, including planned £2bn dividend for 2026 \n \n \n \n \n ● \n \n \n Income: Group total income of c.£31bn \n \n \n \n \n \n \n \n - \n \n \n Group NII excluding IB and Head Office greater than £13.5bn and Barclays UK NII of £8.1bn - £8.3bn \n \n \n \n \n ● \n \n \n Costs: Group cost: income ratio of high 50s in percentage terms \n \n \n \n \n ● \n \n \n Impairment : expect Group LLR to be around the top of the 50-60bps through the cycle range \n \n \n \n \n ● \n \n \n Capital : CET1 ratio target range of 13-14% \n \n \n \n \n \n \n \n - \n \n \n IB RWAs mid 50s% of Group RWAs \n \n \n \n \n \n \n \n - \n \n \n Impact of regulatory change on RWAs in line with our prior guidance of c.£19-26bn \n \n \n \n \n \n \n \n \n \n \n - \n \n \n c.£3-10bn RWAs from Basel 3.1, with implementation expected from 1 January 2027 3 \n \n \n \n \n \n \n \n \n \n \n - \n \n \n c.£16bn RWAs from USCB moving to an Internal Ratings Based (IRB) model, subject to portfolio changes and regulatory approval, c.£5bn expected on 1 January 2027 with remainder anticipated later in 2027 \n \n \n   \n \n \n \n \n \n \n \n - \n \n \n Expect Pillar 2A capital to reduce upon implementation of Basel 3.1 and USCB IRB \n \n \n \n \n \n \n \n \n \n \n \n \n   \n 2028 targets \n \n \n \n \n ● \n \n \n Returns : Group RoTE of greater than 14% \n \n \n \n \n ● \n \n \n Capital returns 2 : plan to return greater than £15bn of capital to shareholders between 2026 and 2028, through dividends and share buybacks. This provides capacity for additional investment and growth, exceeding the level of investment in the current plan \n \n \n \n \n ● \n \n \n Income: greater than 5% compound annual growth rate (CAGR) 2025-2028 \n \n \n \n \n ● \n \n \n Costs: Group cost: income ratio of low 50s in percentage terms. Cost target includes total gross efficiency savings of c.£2bn in 2026-2028 \n \n \n \n \n ● \n \n \n Impairment : expect Group LLR of 50-60bps through the cycle \n \n \n \n \n ● \n \n \n Capital : CET1 ratio target range of 13-14% \n \n \n \n \n \n \n \n - \n \n \n IB RWAs of c.50% of Group RWAs \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Our targets and guidance are based on management's current expectations as to the macroeconomic environment and the business and may be subject to change. \n \n \n \n \n 2 \n \n \n This multi-year plan is subject to supervisory and Board approvals, anticipated financial performance and our published CET1 ratio target range of 13-14%. \n \n \n \n \n 3 \n \n \n Fundamental review of the trading book (FRTB) impact mostly expected in 2027. \n \n \n \n \n   \n \n \n \n \n Barclays Group results \n \n \n Three months ended \n \n \n \n \n \n \n \n   \n \n \n 31.03.26 \n \n \n 31.03.25 \n \n \n   \n \n \n   \n \n \n \n \n \n \n \n £m \n \n \n £m \n \n \n % Change \n \n \n   \n \n \n \n \n Barclays UK \n \n \n 2,258 \n \n \n 2,074 \n \n \n 9 \n \n \n   \n \n \n \n \n Barclays UK Corporate Bank \n \n \n 530 \n \n \n 484 \n \n \n 10 \n \n \n   \n \n \n \n \n Barclays Private Bank and Wealth Management \n \n \n 347 \n \n \n 349 \n \n \n (1) \n \n \n   \n \n \n \n \n Barclays Investment Bank \n \n \n 4,028 \n \n \n 3,873 \n \n \n 4 \n \n \n   \n \n \n \n \n Barclays US Consumer Bank \n \n \n 983 \n \n \n 864 \n \n \n 14 \n \n \n   \n \n \n \n \n Head Office \n \n \n 17 \n \n \n 65 \n \n \n (74) \n \n \n   \n \n \n \n \n Total income \n \n \n 8,163 \n \n \n 7,709 \n \n \n 6 \n \n \n   \n \n \n \n \n Operating costs \n \n \n (4,359) \n \n \n (4,258) \n \n \n (2) \n \n \n   \n \n \n \n \n UK regulatory levies \n \n \n (84) \n \n \n (96) \n \n \n 13 \n \n \n   \n \n \n \n \n Litigation and conduct \n \n \n (104) \n \n \n (11) \n \n \n \n \n \n   \n \n \n \n \n Total operating expenses \n \n \n (4,547) \n \n \n (4,365) \n \n \n (4) \n \n \n   \n \n \n \n \n Other net income \n \n \n 21 \n \n \n 18 \n \n \n 17 \n \n \n   \n \n \n \n \n Profit before impairment \n \n \n 3,637 \n \n \n 3,362 \n \n \n 8 \n \n \n   \n \n \n \n \n Credit impairment charges \n \n \n (823) \n \n \n (643) \n \n \n (28) \n \n \n   \n \n \n \n \n Profit before tax \n \n \n 2,814 \n \n \n 2,719 \n \n \n 3 \n \n \n   \n \n \n \n \n Tax charge \n \n \n (638) \n \n \n (621) \n \n \n (3) \n \n \n   \n \n \n \n \n Profit after tax \n \n \n 2,176 \n \n \n 2,098 \n \n \n 4 \n \n \n   \n \n \n \n \n Non-controlling interests \n \n \n - \n \n \n (2) \n \n \n \n \n \n   \n \n \n \n \n Other equity instrument holders \n \n \n (244) \n \n \n (232) \n \n \n (5) \n \n \n   \n \n \n \n \n Attributable profit \n \n \n 1,932 \n \n \n 1,864 \n \n \n 4 \n \n \n   \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Performance measures \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Return on average tangible shareholders' equity \n \n \n 13.5% \n \n \n 14.0% \n \n \n   \n \n \n   \n \n \n \n \n Average tangible shareholders' equity (£bn) \n \n \n 57.2 \n \n \n 53.1 \n \n \n   \n \n \n   \n \n \n \n \n Cost: income ratio \n \n \n 56% \n \n \n 57% \n \n \n   \n \n \n   \n \n \n \n \n Loan loss rate (bps) \n \n \n 74 \n \n \n 61 \n \n \n   \n \n \n   \n \n \n \n \n Basic earnings per ordinary share \n \n \n 14.1p \n \n \n 13.0p \n \n \n 8 \n \n \n   \n \n \n \n \n Share buybacks announced (£m) \n \n \n 500 \n \n \n - \n \n \n   \n \n \n   \n \n \n \n \n Total payout equivalent per share \n \n \n c.3.6p \n \n \n - \n \n \n   \n \n \n   \n \n \n \n \n Basic weighted average number of shares (m) \n \n \n 13,727 \n \n \n 14,314 \n \n \n (4) \n \n \n   \n \n \n \n \n Period end number of shares (m) \n \n \n 13,737 \n \n \n 14,336 \n \n \n (4) \n \n \n   \n \n \n \n \n Period end tangible shareholders' equity (£bn) \n \n \n 55.6 \n \n \n 53.4 \n \n \n   \n \n \n   \n \n \n \n \n   \n \n \n \n \n   \n \n \n As at 31.03.26 \n \n \n As at 31.12.25 \n \n \n As at 31.03.25 \n \n \n \n \n Balance sheet and capital management 1 \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n Loans and advances at amortised cost \n \n \n 438.6 \n \n \n 430.0 \n \n \n 419.4 \n \n \n \n \n Loans and advances at amortised cost impairment coverage ratio \n \n \n 1.3% \n \n \n 1.2% \n \n \n 1.2% \n \n \n \n \n Total assets \n \n \n 1,694.8 \n \n \n 1,544.2 \n \n \n 1,593.5 \n \n \n \n \n Deposits at amortised cost \n \n \n 587.6 \n \n \n 585.6 \n \n \n 574.3 \n \n \n \n \n Tangible net asset value per share \n \n \n 405p \n \n \n 409p \n \n \n 372p \n \n \n \n \n Common equity tier 1 ratio \n \n \n 14.1% \n \n \n 14.3% \n \n \n 13.9% \n \n \n \n \n Common equity tier 1 capital \n \n \n 51.2 \n \n \n 51.1 \n \n \n 48.8 \n \n \n \n \n Risk weighted assets \n \n \n 364.5 \n \n \n 356.8 \n \n \n 351.3 \n \n \n \n \n UK leverage ratio \n \n \n 4.8% \n \n \n 5.1% \n \n \n 5.0% \n \n \n \n \n UK leverage exposure \n \n \n 1,321.3 \n \n \n 1,247.3 \n \n \n 1,252.8 \n \n \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n Funding and liquidity \n \n \n   \n \n \n \n \n \n \n \n \n \n \n Group liquidity pool (£bn) \n \n \n 326.1 \n \n \n 337.8 \n \n \n 336.3 \n \n \n \n \n Liquidity coverage ratio 2 \n \n \n 165.4% \n \n \n 170.0% \n \n \n 175.3% \n \n \n \n \n Net stable funding ratio 3 \n \n \n 135.4% \n \n \n 135.2% \n \n \n 136.2% \n \n \n \n \n Loan: deposit ratio \n \n \n 75% \n \n \n 73% \n \n \n 73% \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Refer to pages 32 to 36 for further information on how capital, RWAs and leverage are calculated. \n \n \n \n \n 2 \n \n \n Represents average of the last 12 spot month end ratios. In June 2025, Barclays implemented a new methodology for calculating net stress outflows related to secured financing transactions in the liquidity coverage ratio (LCR). \n \n \n \n \n 3 \n \n \n Represents average of the last four spot quarter end positions. \n \n \n \n \n   \n Group Finance Director's Review \n   \n Q126 Group performance \n   \n \n \n \n \n ● \n \n \n Barclays delivered a profit before tax of £2,814m (Q125: £2,719m), RoTE of 13.5% (Q125: 14.0%) and EPS of 14.1p (Q125: 13.0p) \n \n \n \n \n ● \n \n \n The Group has a diverse income profile across businesses and geographies. The 7% year-on-year appreciation of average GBP against USD negatively impacted income and profits, and positively impacted credit impairment charges and total operating expenses \n \n \n \n \n ● \n \n \n Group income increased 6% to £8,163m, as increased NII, supported by higher structural hedge income and lending growth, and higher income in Global Markets and Investment Banking fees, were partially offset by net losses on fair value lending in IB 1 \n \n \n \n \n ● \n \n \n Group total operating expenses increased to £4,547m (Q125: £4,365m) \n \n \n \n \n \n \n \n - \n \n \n Group operating costs increased 2% to £4,359m, reflecting further investment spend, business growth and inflation, partially offset by c.£150m of cost efficiency savings and FX movements \n \n \n \n \n \n \n \n - \n \n \n Litigation and conduct charges of £104m primarily reflected a £105m increase in the provision for the FCA motor finance redress scheme \n \n \n \n \n ● \n \n \n Credit impairment charges increased to £823m (Q125: £643m), primarily driven by a single name charge of £228m in IB. Uncertainty persists and this is reflected in a net £20m increase in related management adjustments. As a result, total coverage ratio increased to 1.3% (December 2025: 1.2%) \n \n \n \n \n ● \n \n \n The effective tax rate (ETR) was 22.7% (Q125: 22.8%) \n \n \n \n \n ● \n \n \n Attributable profit was £1,932m (Q125: £1,864m) \n \n \n \n \n ● \n \n \n Total assets increased to £1,694.8 bn (December 2025: £1,544.2bn) driven by higher activity in Global Markets as we continue to support clients through a range of environments \n \n \n \n \n ● \n \n \n TNAV per share decreased to 405p (December 2025: 409p) as EPS of 14.1p and a 3p benefit from the currency translation reserve was more than offset by an 11p negative movement in the cash flow hedging reserve, a 6p impact from FY25 dividends paid in Q126, and 6p impact from share awards vesting \n \n \n \n \n   \n Group capital and leverage \n   \n \n \n \n \n ● \n \n \n The CET1 ratio decreased to 14.1% (December 2025: 14.3%). Taking into account the impact of the £500m share buyback announced today, the CET1 ratio as of 31 March 2026 would be reduced to 13.9% (at the top end of the 13-14% target range) \n \n \n \n \n ● \n \n \n The 26bps decrease in the CET1 ratio at Q126, driven by an RWAs increase of £7.7bn to £364.5bn, partially offset by an increase in CET1 capital of £0.1bn to £51.2bn, was due to: \n \n \n \n \n \n \n \n - \n \n \n 53bps increase from attributable profit \n \n \n \n \n \n \n \n - \n \n \n 41bps decrease driven by shareholder distributions including the £1.0bn share buyback announced with FY25 results and the accrual for the FY26 dividend  \n \n \n \n \n \n \n \n - \n \n \n 17bps decrease from other CET1 capital movements, including the net impact of share awards vesting \n \n \n \n \n \n \n \n - \n \n \n 22bps decrease as a result of a £5.5bn increase in RWAs, excluding the impact of foreign exchange movements,  primarily driven by lending growth in UK businesses and higher activity in Global Markets \n \n \n \n \n \n \n \n - \n \n \n A £0.4bn increase in CET1 capital due to an increase in the currency translation reserve was partially offset by a £2.1bn increase in RWAs as a result of foreign exchange movements \n \n \n \n \n ● \n \n \n The UK leverage ratio decreased to 4.8% (December 2025: 5.1%) as the leverage exposure increased by £74.0bn to £1,321.3bn (December 2025: £1,247.3bn). The increase in leverage exposure was primarily driven by higher activity in Global Markets \n \n \n \n \n   \n Group funding and liquidity \n   \n \n \n \n \n ● \n \n \n The liquidity metrics remain above regulatory requirements, underpinned by well-diversified sources of funding, a stable global deposit franchise and a highly liquid balance sheet \n \n \n \n \n ● \n \n \n The liquidity pool was £326.1bn, a decrease of £11.7bn from December 2025. The decrease in the liquidity pool was primarily driven by increased utilisation across Markets and Investment Banking and higher Treasury usage \n \n \n \n \n ● \n \n \n The average 2 LCR was 165.4% (December 2025: 170.0%), equivalent to a surplus of £125.9bn (December 2025: £131.2bn) \n \n \n \n \n ● \n \n \n Total deposits increased to £587.6bn (December 2025: £585.6bn), primarily driven by deposit growth in International Corporate Bank in IB \n \n \n \n \n ● \n \n \n The average 3 Net Stable Funding Ratio (NSFR) was 135.4% (December 2025: 135.2%), which represents a £166.9bn surplus (December 2025: £166.3bn) above the 100% regulatory requirement \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Q126 includes c.£40m of fair value losses on lending. Q125 included c.£105m of fair value gains on leverage finance lending. \n \n \n \n \n 2 \n \n \n Represents average of the last 12 spot month end ratios. In June 2025, Barclays implemented a new methodology for calculating net stress outflows related to secured financing transactions in the liquidity coverage ratio. \n \n \n \n \n 3 \n \n \n Represents average of the last four spot quarter end ratios. \n \n \n \n \n   \n Group funding and liquidity (continued) \n   \n \n \n \n \n ● \n \n \n Wholesale funding outstanding, excluding repurchase agreements, was £227.0bn (December 2025: £220.1bn) \n \n \n \n \n ● \n \n \n The Group issued £3.0bn equivalent of minimum requirement for own funds and eligible liabilities (MREL) instruments from Barclays PLC (the Parent company) as of Q126. The Group has a strong MREL position with a ratio of 35.4%, which is in excess of the regulatory requirement of 30.5% excluding any applicable Prudential Regulation Authority (PRA) buffer \n \n \n \n \n   \n Other matters \n   \n \n \n \n \n ● \n \n \n Motor finance commission arrangements: \n From 2003 to late 2019, Barclays, through Clydesdale Financial Services Limited (CFSL), a wholly owned subsidiary of the group, provided motor finance to customers in the UK. \n In January 2024, the FCA appointed a skilled person to review the historical use of discretionary commission arrangements and sales in the UK motor finance market. In October 2025, the FCA consulted on an industry-wide redress scheme for eligible motor finance customers, and Barclays engaged with the FCA as part of this process. \n In March 2026, the FCA published its final rules giving effect to two redress schemes for eligible motor finance customers where a commission was payable by the lender to the broker (one scheme for each of the pre and post 1 April 2014 periods). \n Barclays increased its provision in Q126 by £105m to reflect the expected financial impact of the redress schemes. The increase in provision is primarily driven by moving from a multi-scenario approach to a single scenario based on the FCA's final rules and higher compensatory interest. This resulted in a provision of £430m in respect of this matter as at 31 March 2026 (as at 31 December 2025: £325m). The provision as at 31 March 2026 reflects Barclays' estimate of cases in scope of the FCA redress schemes, the anticipated level of customer redress under the FCA's methodology (including compensatory interest at a minimum of 3% per annum), the estimated customer response rate (with reference to prior remediation exercises across the Group), and implementation costs. The ultimate financial impact could differ from the current estimate due to factors such as customer response rates and average cost of redress. \n Barclays has decided not to challenge the FCA's final rules in the interests of enabling a swift resolution for customers. However, Barclays strongly disagrees with aspects which require financial redress even where customers suffered no demonstrable financial harm. \n Barclays understands that it is likely there will be at least one legal challenge to the FCA's final rules. The legal and regulatory outcomes and the nature, extent and timing of any remediation action, therefore remain uncertain. Barclays has not incorporated the potential impact of any legal challenge into the provision estimate. \n   \n \n \n \n \n ● \n \n \n USCB portfolio changes in Q226: \n \n \n \n \n \n \n \n - \n \n \n American Airlines co-branded credit card portfolio exit : On 24 April 2026 Barclays exited its American Airlines co-branded credit card partnership, releasing c.$5bn of RWAs and generating an estimated gain on sale of c.$300m \n \n \n \n \n \n \n \n - \n \n \n Best Egg, Inc. (Best Egg) acquisition: On or around 1 May 2026, Barclays expects to complete the acquisition of Best Egg for $800m, subject to customary post-completion purchase price adjustments and satisfaction of remaining conditions to closing. Best Egg is a leading US direct-to-consumer personal loan origination platform focused on prime borrowers. The acquisition is expected to generate c.$500m of goodwill and intangibles \n \n \n \n \n \n \n \n - \n \n \n The estimated net impact of both transactions is expected to marginally increase the Barclays Group CET1 ratio in Q226 \n \n \n \n \n   \n Anna Cross, Group Finance Director \n   \n Results by Business \n   \n \n \n \n \n Barclays UK \n \n \n Three months ended \n \n \n \n \n \n \n \n 31.03.26 \n \n \n 31.03.25 \n \n \n   \n \n \n \n \n Income statement information \n \n \n £m \n \n \n £m \n \n \n % Change \n \n \n \n \n Net interest income \n \n \n 1,986 \n \n \n 1,822 \n \n \n 9 \n \n \n \n \n Net fee, commission and other income \n \n \n 272 \n \n \n 252 \n \n \n 8 \n \n \n \n \n Total income \n \n \n 2,258 \n \n \n 2,074 \n \n \n 9 \n \n \n \n \n Operating costs \n \n \n (1,174) \n \n \n (1,115) \n \n \n (5) \n \n \n \n \n UK regulatory levies \n \n \n (44) \n \n \n (43) \n \n \n (2) \n \n \n \n \n Litigation and conduct \n \n \n 1 \n \n \n (2) \n \n \n \n \n \n \n \n Total operating expenses \n \n \n (1,217) \n \n \n (1,160) \n \n \n (5) \n \n \n \n \n Other net income \n \n \n - \n \n \n - \n \n \n - \n \n \n \n \n Profit before impairment \n \n \n 1,041 \n \n \n 914 \n \n \n 14 \n \n \n \n \n Credit impairment charges \n \n \n (178) \n \n \n (158) \n \n \n (13) \n \n \n \n \n Profit before tax \n \n \n 863 \n \n \n 756 \n \n \n 14 \n \n \n \n \n Attributable profit \n \n \n 591 \n \n \n 510 \n \n \n 16 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Performance measures \n \n \n \n \n \n \n \n \n \n \n \n \n \n Return on average allocated tangible equity \n \n \n 19.7% \n \n \n 17.4% \n \n \n \n \n \n \n \n Average allocated tangible equity (£bn) \n \n \n 12.0 \n \n \n 11.7 \n \n \n \n \n \n \n \n Cost: income ratio \n \n \n 54% \n \n \n 56% \n \n \n \n \n \n \n \n Loan loss rate (bps) \n \n \n 31 \n \n \n 28 \n \n \n \n \n \n \n \n Net interest margin \n \n \n 3.72% \n \n \n 3.55% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n As at 31.03.26 \n \n \n As at 31.12.25 \n \n \n As at 31.03.25 \n \n \n \n \n Balance sheet information \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 217.8 \n \n \n 216.5 \n \n \n 209.6 \n \n \n \n \n Total assets \n \n \n 298.4 \n \n \n 299.6 \n \n \n 301.4 \n \n \n \n \n Customer deposits at amortised cost \n \n \n 243.9 \n \n \n 244.6 \n \n \n 243.1 \n \n \n \n \n Loan: deposit ratio \n \n \n 95% \n \n \n 94% \n \n \n 93% \n \n \n \n \n Risk weighted assets \n \n \n 87.5 \n \n \n 85.8 \n \n \n 85.0 \n \n \n \n \n Period end allocated tangible equity \n \n \n 12.0 \n \n \n 11.8 \n \n \n 11.8 \n \n \n \n \n   \n \n \n \n \n Analysis of Barclays UK \n \n \n Three months ended \n \n \n \n \n 31.03.26 \n \n \n 31.03.25 \n \n \n   \n \n \n \n \n Analysis of total income \n \n \n £m \n \n \n £m \n \n \n % Change \n \n \n \n \n Retail Banking \n \n \n 1,725 \n \n \n 1,573 \n \n \n 10 \n \n \n \n \n Business Banking \n \n \n 533 \n \n \n 501 \n \n \n 6 \n \n \n \n \n Total income \n \n \n 2,258 \n \n \n 2,074 \n \n \n 9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Analysis of credit impairment (charges)/releases \n \n \n \n \n \n \n \n \n \n \n \n \n \n Retail Banking \n \n \n (179) \n \n \n (145) \n \n \n (23) \n \n \n \n \n Business Banking \n \n \n 1 \n \n \n (13) \n \n \n \n \n \n \n \n Total credit impairment charges \n \n \n (178) \n \n \n (158) \n \n \n (13) \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n As at 31.03.26 \n \n \n As at 31.12.25 \n \n \n As at 31.03.25 \n \n \n \n \n Analysis of loans and advances to customers at amortised cost \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n Retail Banking \n \n \n 200.1 \n \n \n 198.6 \n \n \n 190.4 \n \n \n \n \n Business Banking \n \n \n 17.7 \n \n \n 17.9 \n \n \n 19.2 \n \n \n \n \n Total loans and advances to customers at amortised cost \n \n \n 217.8 \n \n \n 216.5 \n \n \n 209.6 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Analysis of customer deposits at amortised cost \n \n \n \n \n \n \n \n \n \n \n \n \n \n Retail Banking \n \n \n 193.1 \n \n \n 192.7 \n \n \n 190.8 \n \n \n \n \n Business Banking \n \n \n 50.8 \n \n \n 51.9 \n \n \n 52.3 \n \n \n \n \n Total customer deposits at amortised cost \n \n \n 243.9 \n \n \n 244.6 \n \n \n 243.1 \n \n \n \n \n   \n Barclays UK delivered a RoTE of 19.7% (Q125: 17.4%) supported by robust income, disciplined cost management and underpinned by strong asset quality \n   \n Income statement - Q126 compared to Q125 \n \n \n \n \n ● \n \n \n Profit before tax increased 14% to £863m \n \n \n \n \n ● \n \n \n Total income increased 9% to £2,258m. NII increased 9% to £1,986m, as higher structural hedge income was partially offset by retail deposit dynamics. Net fee, commission and other income increased 8% to £272m \n \n \n \n \n ● \n \n \n Total operating expenses increased 5% to £1,217m, driven by higher investments and inflation. Ongoing efficiency savings continue to be reinvested, to drive sustainable improvement to the cost: income ratio \n \n \n \n \n ● \n \n \n Credit impairment charges were £178m (Q125: £158m), reflecting stable underlying credit performance, high quality mortgage lending portfolio with a marginal increase in delinquencies in Retail credit cards. A £10m adjustment has been recognised in the Retail credit cards portfolio, reflecting a marginally weaker UK unemployment baseline than assumed in the Q126 scenario. Retail credit cards 30 and 90 day arrears rates were 0.9% (Q125: 0.7%) and 0.3% (Q125: 0.2%) respectively. The Retail credit cards total coverage ratio was 4.6% (December 2025: 4.3%) \n \n \n \n \n   \n Balance sheet - 31 March 2026 compared to 31 December 2025 \n \n \n \n \n ● \n \n \n Loans and advances to customers at amortised cost increased £1.3bn to £217.8bn , primarily driven by growth in mortgages \n \n \n \n \n ● \n \n \n Customer deposits at amortised cost decreased by £0.7bn to £243.9bn, driven by seasonality. The loan: deposit ratio remained broadly stable at 95% (December 2025: 94%) \n \n \n \n \n ● \n \n \n RWAs increased to £87.5bn (December 2025: £85.8bn), primarily due to growth in mortgages lending \n \n \n \n \n   \n \n \n \n \n Barclays UK Corporate Bank \n \n \n Three months ended \n \n \n   \n \n \n \n \n \n \n \n 31.03.26 \n \n \n 31.03.25 \n \n \n   \n \n \n   \n \n \n \n \n Income statement information \n \n \n £m \n \n \n £m \n \n \n % Change \n \n \n   \n \n \n \n \n Net interest income \n \n \n 394 \n \n \n 342 \n \n \n 15 \n \n \n \n \n \n \n \n Net fee, commission and other income \n \n \n 136 \n \n \n 142 \n \n \n (4) \n \n \n \n \n \n \n \n Total income \n \n \n 530 \n \n \n 484 \n \n \n 10 \n \n \n \n \n \n \n \n Operating costs \n \n \n (239) \n \n \n (234) \n \n \n (2) \n \n \n \n \n \n \n \n UK regulatory levies \n \n \n (15) \n \n \n (24) \n \n \n 38 \n \n \n \n \n \n \n \n Litigation and conduct \n \n \n - \n \n \n - \n \n \n \n \n \n \n \n \n \n \n Total operating expenses \n \n \n (254) \n \n \n (258) \n \n \n 2 \n \n \n \n \n \n \n \n Other net income \n \n \n - \n \n \n - \n \n \n - \n \n \n \n \n \n \n \n Profit before impairment \n \n \n 276 \n \n \n 226 \n \n \n 22 \n \n \n \n \n \n \n \n Credit impairment charges \n \n \n (3) \n \n \n (19) \n \n \n 84 \n \n \n \n \n \n \n \n Profit before tax \n \n \n 273 \n \n \n 207 \n \n \n 32 \n \n \n \n \n \n \n \n Attributable profit \n \n \n 187 \n \n \n 142 \n \n \n 32 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Performance measures \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Return on average allocated tangible equity \n \n \n 19.9% \n \n \n 17.1% \n \n \n \n \n \n \n \n \n \n \n Average allocated tangible equity (£bn) \n \n \n 3.8 \n \n \n 3.3 \n \n \n \n \n \n \n \n \n \n \n Cost: income ratio \n \n \n 48% \n \n \n 53% \n \n \n \n \n \n \n \n \n \n \n Loan loss rate (bps) \n \n \n 4 \n \n \n 28 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n As at 31.03.26 \n \n \n As at 31.12.25 \n \n \n As at 31.03.25 \n \n \n \n \n \n \n \n Balance sheet information \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 30.8 \n \n \n 30.0 \n \n \n 26.7 \n \n \n \n \n \n \n \n Deposits at amortised cost \n \n \n 88.0 \n \n \n 88.7 \n \n \n 85.3 \n \n \n \n \n \n \n \n Risk weighted assets \n \n \n 27.3 \n \n \n 26.5 \n \n \n 24.2 \n \n \n \n \n \n \n \n Period end allocated tangible equity \n \n \n 3.7 \n \n \n 3.7 \n \n \n 3.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n   \n \n \n   \n \n \n \n \n \n \n \n 31.03.26 \n \n \n 31.03.25 \n \n \n   \n \n \n   \n \n \n \n \n Analysis of total income \n \n \n £m \n \n \n £m \n \n \n % Change \n \n \n   \n \n \n \n \n Corporate lending \n \n \n 89 \n \n \n 80 \n \n \n 11 \n \n \n \n \n \n \n \n Transaction banking \n \n \n 441 \n \n \n 404 \n \n \n 9 \n \n \n \n \n \n \n \n Total income \n \n \n 530 \n \n \n 484 \n \n \n 10 \n \n \n \n \n \n \n \n   \n UKCB delivered a RoTE of 19.9% (Q125: 17.1%) , as increased income from higher average deposit and lending balances, and positive operating jaws were partially offset by higher RWAs to support future growth ambitions. \n   \n Income statement - Q126 compared to Q125 \n \n \n \n \n ● \n \n \n Profit before tax increased 32% to £273m \n \n \n \n \n ● \n \n \n Total income increased 10% to £530m, NII increased 15% to £394m, driven by higher average deposit and lending balances, and structural hedge income benefit. Net fee, commission, trading and other income was broadly stable at £136m \n \n \n \n \n ● \n \n \n Total operating expenses decreased 2% to £254m, reflecting a reduction in UK regulatory levies to £15m (Q125: £24m). Operating costs increased 2% to £239m, reflecting higher investment spend to support business growth ambitions, with ongoing efficiency savings offsetting inflationary headwinds \n \n \n \n \n ● \n \n \n Credit impairment charges were £3m (Q125: £19m) , reflecting strong underlying credit performance and limited single name charges \n \n \n \n \n   \n Balance sheet - 31 March 2026 compared to 31 December 2025 \n \n \n \n \n ● \n \n \n Loans and advances to customers at amortised cost increased to £30.8bn (December 2025: £30.0bn), reflecting the strategic focus to grow lending \n \n \n \n \n ● \n \n \n Deposits at amortised cost of £88.0bn (December 2025: £88.7bn) were broadly stable \n \n \n \n \n ● \n \n \n RWAs increased to £27.3bn (December 2025: £26.5bn) , reflecting higher client lending limits and growth in lending balances \n \n \n \n \n   \n \n \n \n \n Barclays Private Bank and Wealth Management \n \n \n Three months ended \n \n \n \n \n \n \n \n 31.03.26 \n \n \n 31.03.25 \n \n \n   \n \n \n \n \n Income statement information \n \n \n £m \n \n \n £m \n \n \n % Change \n \n \n \n \n Net interest income \n \n \n 204 \n \n \n 204 \n \n \n - \n \n \n \n \n Net fee, commission and other income \n \n \n 143 \n \n \n 145 \n \n \n (1) \n \n \n \n \n Total income \n \n \n 347 \n \n \n 349 \n \n \n (1) \n \n \n \n \n Operating costs \n \n \n (254) \n \n \n (234) \n \n \n (9) \n \n \n \n \n UK regulatory levies \n \n \n (3) \n \n \n (2) \n \n \n (50) \n \n \n \n \n Litigation and conduct \n \n \n - \n \n \n - \n \n \n \n \n \n \n \n Total operating expenses \n \n \n (257) \n \n \n (236) \n \n \n (9) \n \n \n \n \n Other net income \n \n \n - \n \n \n - \n \n \n - \n \n \n \n \n Profit before impairment \n \n \n 90 \n \n \n 113 \n \n \n (20) \n \n \n \n \n Credit impairment releases \n \n \n 2 \n \n \n 9 \n \n \n (78) \n \n \n \n \n Profit before tax \n \n \n 92 \n \n \n 122 \n \n \n (25) \n \n \n \n \n Attributable profit \n \n \n 73 \n \n \n 96 \n \n \n (24) \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Performance measures \n \n \n \n \n \n \n \n \n \n \n \n \n \n Return on average allocated tangible equity \n \n \n 25.5% \n \n \n 34.5% \n \n \n \n \n \n \n \n Average allocated tangible equity (£bn) \n \n \n 1.1 \n \n \n 1.1 \n \n \n \n \n \n \n \n Cost: income ratio \n \n \n 74% \n \n \n 68% \n \n \n \n \n \n \n \n Loan loss rate (bps) \n \n \n (6) \n \n \n (25) \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Key facts \n \n \n £bn \n \n \n £bn \n \n \n   \n \n \n \n \n Net new assets under management 1 \n \n \n 1.5 \n \n \n 1.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n As at 31.03.26 \n \n \n As at 31.12.25 \n \n \n As at 31.03.25 \n \n \n \n \n Balance sheet information \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 14.7 \n \n \n 14.7 \n \n \n 14.5 \n \n \n \n \n Deposits at amortised cost \n \n \n 73.3 \n \n \n 72.0 \n \n \n 73.1 \n \n \n \n \n Risk weighted assets \n \n \n 8.2 \n \n \n 8.0 \n \n \n 8.0 \n \n \n \n \n Period end allocated tangible equity \n \n \n 1.1 \n \n \n 1.1 \n \n \n 1.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Invested assets 2 \n \n \n 135.4 \n \n \n 140.6 \n \n \n 124.4 \n \n \n \n \n Of which: \n \n \n \n \n \n \n \n \n \n \n \n \n \n Assets under management 1 \n \n \n 51.6 \n \n \n 52.9 \n \n \n 47.8 \n \n \n \n \n Assets under supervision 1 \n \n \n 83.8 \n \n \n 87.7 \n \n \n 76.6 \n \n \n \n \n Client assets and liabilities 3 \n \n \n 223.8 \n \n \n 227.6 \n \n \n 212.4 \n \n \n \n \n   \n PBWM delivered a RoTE of 25.5% (Q125: 34.5% ), reflecting higher costs from accelerated investment to support future growth and efficiency ambitions, and a lower credit impairment release. \n   \n Income statement - Q126 compared to Q125 \n \n \n \n \n ● \n \n \n Profit before tax decreased 25% to £92m \n \n \n \n \n ● \n \n \n Total income was broadly stable at £347m, as growth from higher client balances was offset by the impact of deposit mix \n \n \n \n \n ● \n \n \n Total operating expenses increased 9% to £257m, reflecting ongoing investment to support business growth ambitions and inflationary headwinds, partially offset by efficiency savings \n \n \n \n \n   \n Balance sheet - 31 March 2026 compared to 31 December 2025 \n \n \n \n \n ● \n \n \n Client assets and liabilities decreased £3.8bn to £223.8bn , driven by the impact of negative market movements on invested assets, partially offset by net new inflows and FX impacts \n \n \n \n \n ● \n \n \n RWAs were broadly stable at £8.2bn (December 2025: £8.0bn) \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Refer to page 40 for further information on net new assets under management, assets under management and assets under supervision. \n \n \n \n \n 2 \n \n \n Invested assets (held off-balance sheet) represent assets under management and supervision. Uninvested cash held under an investment mandate and reported within deposits is excluded from invested assets. \n \n \n \n \n 3 \n \n \n Client assets and liabilities refers to deposits, lending and invested assets. \n \n \n \n \n   \n \n \n \n \n Barclays Investment Bank \n \n \n Three months ended \n \n \n   \n \n \n \n \n \n \n \n 31.03.26 \n \n \n 31.03.25 \n \n \n   \n \n \n   \n \n \n \n \n Income statement information \n \n \n £m \n \n \n £m \n \n \n % Change \n \n \n   \n \n \n \n \n Net interest income \n \n \n 383 \n \n \n 297 \n \n \n 29 \n \n \n \n \n \n \n \n Net trading income \n \n \n 2,358 \n \n \n 2,416 \n \n \n (2) \n \n \n \n \n \n \n \n Net fee, commission and other income \n \n \n 1,287 \n \n \n 1,160 \n \n \n 11 \n \n \n \n \n \n \n \n Total income \n \n \n 4,028 \n \n \n 3,873 \n \n \n 4 \n \n \n \n \n \n \n \n Operating costs \n \n \n (2,107) \n \n \n (2,061) \n \n \n (2) \n \n \n \n \n \n \n \n UK regulatory levies \n \n \n (22) \n \n \n (27) \n \n \n 19 \n \n \n \n \n \n \n \n Litigation and conduct \n \n \n 2 \n \n \n (3) \n \n \n \n \n \n \n \n \n \n \n Total operating expenses \n \n \n (2,127) \n \n \n (2,091) \n \n \n (2) \n \n \n \n \n \n \n \n Other net income \n \n \n - \n \n \n - \n \n \n - \n \n \n \n \n \n \n \n Profit before impairment \n \n \n 1,901 \n \n \n 1,782 \n \n \n 7 \n \n \n \n \n \n \n \n Credit impairment charges \n \n \n (279) \n \n \n (72) \n \n \n \n \n \n \n \n \n \n \n Profit before tax \n \n \n 1,622 \n \n \n 1,710 \n \n \n (5) \n \n \n \n \n \n \n \n Attributable profit \n \n \n 1,111 \n \n \n 1,199 \n \n \n (7) \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Performance measures \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Return on average allocated tangible equity \n \n \n 15.0% \n \n \n 16.2% \n \n \n \n \n \n \n \n \n \n \n Average allocated tangible equity (£bn) \n \n \n 29.7 \n \n \n 29.6 \n \n \n \n \n \n \n \n \n \n \n Income over average risk weighted assets \n \n \n 8.0% \n \n \n 7.7% \n \n \n \n \n \n \n \n \n \n \n Cost: income ratio \n \n \n 53% \n \n \n 54% \n \n \n \n \n \n \n \n \n \n \n Loan loss rate (bps) \n \n \n 82 \n \n \n 23 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n As at 31.03.26 \n \n \n As at 31.12.25 \n \n \n As at 31.03.25 \n \n \n \n \n \n \n \n Balance sheet information \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 73.6 \n \n \n 70.0 \n \n \n 68.6 \n \n \n \n \n \n \n \n Loans and advances to banks at amortised cost \n \n \n 10.0 \n \n \n 7.4 \n \n \n 7.4 \n \n \n \n \n \n \n \n Debt securities at amortised cost \n \n \n 52.9 \n \n \n 52.9 \n \n \n 53.1 \n \n \n \n \n \n \n \n Loans and advances at amortised cost \n \n \n 136.5 \n \n \n 130.3 \n \n \n 129.1 \n \n \n \n \n \n \n \n Trading portfolio assets \n \n \n 189.3 \n \n \n 189.5 \n \n \n 185.5 \n \n \n \n \n \n \n \n Derivative financial instrument assets \n \n \n 285.4 \n \n \n 251.5 \n \n \n 253.6 \n \n \n \n \n \n \n \n Financial assets at fair value through the income statement \n \n \n 215.6 \n \n \n 183.6 \n \n \n 209.5 \n \n \n \n \n \n \n \n Cash collateral and settlement balances \n \n \n 189.2 \n \n \n 121.6 \n \n \n 148.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Deposits at amortised cost \n \n \n 157.4 \n \n \n 156.1 \n \n \n 148.9 \n \n \n \n \n \n \n \n Derivative financial instrument liabilities \n \n \n 272.6 \n \n \n 240.6 \n \n \n 245.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Risk weighted assets \n \n \n 201.7 \n \n \n 196.7 \n \n \n 195.9 \n \n \n \n \n \n \n \n Period end allocated tangible equity \n \n \n 29.6 \n \n \n 28.9 \n \n \n 28.9 \n \n \n \n \n \n \n \n   \n \n \n \n \n \n \n \n Three months ended \n \n \n   \n \n \n \n \n \n \n \n 31.03.26 \n \n \n 31.03.25 \n \n \n   \n \n \n   \n \n \n \n \n Analysis of total income \n \n \n £m \n \n \n £m \n \n \n % Change \n \n \n   \n \n \n \n \n FICC \n \n \n 1,716 \n \n \n 1,699 \n \n \n 1 \n \n \n \n \n \n \n \n Equities \n \n \n 1,116 \n \n \n 963 \n \n \n 16 \n \n \n \n \n \n \n \n  Global Markets \n \n \n 2,832 \n \n \n 2,662 \n \n \n 6 \n \n \n \n \n \n \n \n Advisory \n \n \n 255 \n \n \n 143 \n \n \n 78 \n \n \n \n \n \n \n \n Equity capital markets \n \n \n 92 \n \n \n 70 \n \n \n 31 \n \n \n \n \n \n \n \n Debt capital markets \n \n \n 407 \n \n \n 431 \n \n \n (6) \n \n \n \n \n \n \n \n Banking fees and underwriting \n \n \n 754 \n \n \n 644 \n \n \n 17 \n \n \n \n \n \n \n \n Corporate lending 1 \n \n \n 16 \n \n \n 156 \n \n \n (90) \n \n \n \n \n \n \n \n Transaction banking \n \n \n 426 \n \n \n 411 \n \n \n 4 \n \n \n \n \n \n \n \n International Corporate Bank \n \n \n 442 \n \n \n 567 \n \n \n (22) \n \n \n \n \n \n \n \n  Investment Banking \n \n \n 1,196 \n \n \n 1,211 \n \n \n (1) \n \n \n \n \n \n \n \n Total income \n \n \n 4,028 \n \n \n 3,873 \n \n \n 4 \n \n \n \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Q126 includes c.£40m of fair value losses on lending. Q125 included c.£105m of fair value gains on leverage finance lending. \n \n \n \n \n   \n IB delivered a RoTE of 15.0% (Q125: 16.2% ), driven by Global Markets and Investment Banking fees and underwriting income, whilst maintaining cost and capital discipline, driving positive operating jaws and improved RWA productivity. \n   \n Income statement - Q126 compared to Q125 \n \n \n \n \n ● \n \n \n Profit before tax decreased to £1,622m (Q125: £1,710m) \n \n \n \n \n ● \n \n \n IB has a diverse income profile across businesses and geographies. The 7% appreciation of average GBP against USD adversely impacted income and profits, and positively impacted credit impairment charges and total operating expenses \n \n \n \n \n ● \n \n \n Total income increased 4% to £4,028m, including the adverse impact of strengthening average GBP against USD \n \n \n \n \n \n \n \n - \n \n \n Global Markets income increased  6% to £2,832m, driven by increased income in Equities and Credit \n \n \n \n \n \n \n \n \n \n \n - \n \n \n FICC income was broadly stable at £1,716m (Q125: £1,699m), as we continued to provide support to clients through a range of environments \n \n \n \n \n \n \n \n \n \n \n - \n \n \n Equities income increased 16% to £1,116m, reflecting growth in Prime Financing, and elevated volatility in Derivatives \n \n \n \n \n \n \n \n - \n \n \n Investment Banking income was broadly stable at £1,196m (Q125: £1,211m) \n \n \n \n \n \n \n \n \n \n \n - \n \n \n Banking fees and underwriting income increased 17% to £754m, primarily driven by Advisory and Equity Capital Markets, up 78% and 31% respectively, partially offset by Debt Capital Markets due to a strong prior year comparator \n \n \n \n \n \n \n \n \n \n \n - \n \n \n International Corporate Bank (ICB) income decreased 22% to £442m. Transaction banking income increased 4% to £426m, as higher income from growth in deposit balances was partially offset by margin compression due to change in deposits product mix.  Corporate lending income decreased to £16m due to net losses on fair value lending¹ \n \n \n \n \n ● \n \n \n Total operating expenses were broadly stable at £2,127m, driven by efficiency savings, offset by higher performance costs \n \n \n \n \n ● \n \n \n Credit impairment charges increased to £279m (Q125: £72m) , primarily driven by a single name charge of £228m. The tariff related adjustment from Q125 of £35m² was released, due to the lack of tariff-driven credit deterioration and losses. However, geopolitical uncertainty persists and is reflected through a management adjustment of £52m² to capture increased downside risk. \n \n \n \n \n   \n Balance sheet - 31 March 2026 compared to 31 December 2025 \n \n \n \n \n ● \n \n \n Loans and advances at amortised cost increased to £136.5bn (December 2025: £130.3bn), driven by increased lending across Global Markets and Banking \n \n \n \n \n ● \n \n \n Cash collateral and settlement balances increased to £189.2bn (December 2025: £121.6bn), primarily driven by seasonality and higher client activity during a period of elevated volatility \n \n \n \n \n ● \n \n \n Financial assets at fair value through the income statement increased to £215.6bn (December 2025: £183.6bn), driven by an increase in activity as we continue to support clients through a range of environments \n \n \n \n \n ● \n \n \n Derivative financial instrument assets increased to £285.4bn (December 2025: £251.5bn) and liabilities increased to £272.6bn (December 2025: £240.6bn), primarily driven by the strengthening of spot USD against GBP in Q126 and elevated volatility \n \n \n \n \n ● \n \n \n RWAs increased to £201.7bn (December 2025: £196.7bn), mainly driven by higher activity in Global Markets as we continued to support clients through a range of environments \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Q126 includes c.£40m of fair value losses on lending. Q125 included c.£105m of fair value gains on leverage finance lending. \n \n \n \n \n 2 \n \n \n Net of Significant Risk Transfer (SRT). \n \n \n \n \n   \n \n \n \n \n Barclays US Consumer Bank \n \n \n Three months ended \n \n \n   \n \n \n \n \n \n \n \n 31.03.26 \n \n \n 31.03.25 \n \n \n   \n \n \n   \n \n \n \n \n Income statement information \n \n \n £m \n \n \n £m \n \n \n % Change \n \n \n   \n \n \n \n \n Net interest income \n \n \n 823 \n \n \n 678 \n \n \n 21 \n \n \n \n \n \n \n \n Net fee, commission and other income \n \n \n 160 \n \n \n 186 \n \n \n (14) \n \n \n \n \n \n \n \n Total income \n \n \n 983 \n \n \n 864 \n \n \n 14 \n \n \n \n \n \n \n \n Operating costs \n \n \n (380) \n \n \n (407) \n \n \n 7 \n \n \n \n \n \n \n \n UK regulatory levies \n \n \n - \n \n \n - \n \n \n \n \n \n \n \n \n \n \n Litigation and conduct \n \n \n - \n \n \n (3) \n \n \n \n \n \n \n \n \n \n \n Total operating expenses \n \n \n (380) \n \n \n (410) \n \n \n 7 \n \n \n \n \n \n \n \n Other net income \n \n \n - \n \n \n - \n \n \n \n \n \n \n \n \n \n \n Profit before impairment \n \n \n 603 \n \n \n 454 \n \n \n 33 \n \n \n \n \n \n \n \n Credit impairment charges \n \n \n (367) \n \n \n (399) \n \n \n 8 \n \n \n \n \n \n \n \n Profit before tax \n \n \n 236 \n \n \n 55 \n \n \n   \n \n \n \n \n \n \n \n Attributable profit \n \n \n 176 \n \n \n 41 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Performance measures \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Return on average allocated tangible equity \n \n \n 18.8% \n \n \n 4.5% \n \n \n \n \n \n \n \n \n \n \n Average allocated tangible equity (£bn) \n \n \n 3.8 \n \n \n 3.6 \n \n \n \n \n \n \n \n \n \n \n Cost: income ratio \n \n \n 39% \n \n \n 47% \n \n \n \n \n \n \n \n \n \n \n Loan loss rate (bps) \n \n \n 491 \n \n \n 562 \n \n \n \n \n \n \n \n \n \n \n Net interest margin \n \n \n 12.76% \n \n \n 10.53% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n As at 31.03.26 \n \n \n As at 31.12.25 \n \n \n As at 31.03.25 \n \n \n \n \n \n \n \n Balance sheet information \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 21.0 \n \n \n 21.1 \n \n \n 18.8 \n \n \n \n \n \n \n \n Deposits at amortised cost \n \n \n 25.0 \n \n \n 24.2 \n \n \n 23.8 \n \n \n \n \n \n \n \n Risk weighted assets \n \n \n 27.6 \n \n \n 27.4 \n \n \n 25.6 \n \n \n \n \n \n \n \n Period end allocated tangible equity \n \n \n 3.8 \n \n \n 3.8 \n \n \n 3.5 \n \n \n \n \n \n \n \n   \n USCB delivered a RoTE of 18.8% (Q125: 4.5%) , reflecting continued operational progress, with increased income from business growth and higher net interest margin, positive operating jaws, and lower credit impairment charges. \n   \n Income statement - Q126 compared to Q125 \n \n \n \n \n ● \n \n \n Profit before tax increased to £236m (Q125: £55m) \n \n \n \n \n ● \n \n \n The 7% appreciation of average GBP against USD adversely impacted income and profits, and positively impacted credit impairment charges and total operating expenses \n \n \n \n \n ● \n \n \n Total income increased 14% to £983m, driven by organic business growth, the acquisition of the General Motors co-branded cards portfolio (GM portfolio) and increased purchase activity, partially offset by the strengthening of average GBP against USD. NII increased 21% to £823m with a net interest margin (NIM) of 12.76% (Q125: 10.53%), including business growth and repricing initiatives. Net fee, commission and other income decreased 14% to £160m driven by the Q425 partner reward updates, partially offset by purchases and fee growth \n \n \n \n \n ● \n \n \n Total operating expenses decreased 7% to £380m, reflecting the strengthening of average GBP against USD, as business growth and inflationary headwinds were broadly offset by lower partner related expenses and ongoing efficiency savings \n \n \n \n \n ● \n \n \n Credit impairment charges decreased to £367m (Q125: £399m ), reflecting stable underlying credit performance. The tariff related management adjustment from Q125 of £36m was released, due to the lack of tariff-driven credit deterioration and losses. However, geopolitical uncertainty persists and is reflected through holding back a £29m release arising from the Q126 macroeconomic scenario. US cards 30 and 90 day arrears rates 1 were 3.1% (Q125: 3.0%) and 1.7% (Q125: 1.6%) respectively. The USCB total coverage ratio was 11.5% (December 2025: 11.1%) \n \n \n \n \n   \n Balance sheet - 31 March 2026 compared to 31 December 2025 \n \n \n \n \n ● \n \n \n Loans and advances to customers at amortised cost were broadly stable at £21.0bn (December 2025: £21.1bn) \n \n \n \n \n ● \n \n \n Deposits at amortised cost increased to £25.0bn (December 2025: £24.2bn) , with growth in retail savings which is in line with USCB's ambition to grow core deposits \n \n \n \n \n ● \n \n \n RWAs were broadly stable at £27.6bn (December 2025: £27.4bn) \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Including a co-branded cards portfolio classified as assets held for sale. \n \n \n \n \n   \n \n \n \n \n Head Office \n \n \n Three months ended \n \n \n   \n \n \n \n \n \n \n \n 31.03.26 \n \n \n 31.03.25 \n \n \n   \n \n \n   \n \n \n \n \n Income statement information \n \n \n £m \n \n \n £m \n \n \n % Change \n \n \n   \n \n \n \n \n Net interest income \n \n \n (53) \n \n \n 174 \n \n \n \n \n \n \n \n \n \n \n Net fee, commission and other income \n \n \n 70 \n \n \n (109) \n \n \n \n \n \n \n \n \n \n \n Total income \n \n \n 17 \n \n \n 65 \n \n \n (74) \n \n \n \n \n \n \n \n Operating costs \n \n \n (205) \n \n \n (207) \n \n \n 1 \n \n \n \n \n \n \n \n UK regulatory levies \n \n \n - \n \n \n - \n \n \n \n \n \n \n \n \n \n \n Litigation and conduct \n \n \n (107) \n \n \n (3) \n \n \n \n \n \n \n \n \n \n \n Total operating expenses \n \n \n (312) \n \n \n (210) \n \n \n (49) \n \n \n \n \n \n \n \n Other net income \n \n \n 21 \n \n \n 18 \n \n \n 17 \n \n \n \n \n \n \n \n Loss before impairment \n \n \n (274) \n \n \n (127) \n \n \n   \n \n \n \n \n \n \n \n Credit impairment releases/(charges) \n \n \n 2 \n \n \n (4) \n \n \n \n \n \n \n \n \n \n \n Loss before tax \n \n \n (272) \n \n \n (131) \n \n \n   \n \n \n \n \n \n \n \n Attributable loss \n \n \n (206) \n \n \n (124) \n \n \n (66) \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Performance measures \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Average allocated tangible equity (£bn) \n \n \n 6.8 \n \n \n 3.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n As at 31.03.26 \n \n \n As at 31.12.25 \n \n \n As at 31.03.25 \n \n \n \n \n \n \n \n Balance sheet information \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n \n \n \n Risk weighted assets \n \n \n 12.3 \n \n \n 12.3 \n \n \n 12.7 \n \n \n \n \n \n \n \n Period end allocated tangible equity \n \n \n 5.4 \n \n \n 7.5 \n \n \n 4.7 \n \n \n \n \n \n \n \n   \n Income statement - Q126 compared to Q125 \n \n \n \n \n ● \n \n \n Loss before tax was £272m (Q125: £131m) \n \n \n \n \n ● \n \n \n Total income decreased to £17m (Q125: £65m), driven by the impact of the disposal of the German consumer finance business in Q125, and mark-to-market losses on legacy investments \n \n \n \n \n ● \n \n \n Total operating expenses increased to £312m (Q125: £210m), reflecting a £105m increase in the provision for the FCA motor finance redress scheme \n \n \n \n \n   \n Balance sheet - 31 March 2026 compared to 31 December 2025 \n \n \n \n \n ● \n \n \n RWAs were stable at £12.3bn (December 2025: £12.3bn) \n \n \n \n \n   \n Quarterly Results Summary \n   \n \n \n \n \n Barclays Group \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n   \n \n \n \n \n   \n \n \n Q126 \n \n \n \n \n \n Q425 \n \n \n Q325 \n \n \n Q225 \n \n \n Q125 \n \n \n   \n \n \n Q424 \n \n \n Q324 \n \n \n Q224 \n \n \n \n \n Income statement information \n \n \n £m \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n   \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Net interest income \n \n \n 3,737 \n \n \n \n \n \n 3,734 \n \n \n 3,745 \n \n \n 3,505 \n \n \n 3,517 \n \n \n \n \n \n 3,500 \n \n \n 3,308 \n \n \n 3,056 \n \n \n \n \n Net fee, commission and other income \n \n \n 4,426 \n \n \n \n \n \n 3,343 \n \n \n 3,422 \n \n \n 3,682 \n \n \n 4,192 \n \n \n \n \n \n 3,464 \n \n \n 3,239 \n \n \n 3,268 \n \n \n \n \n Total income \n \n \n 8,163 \n \n \n \n \n \n 7,077 \n \n \n 7,167 \n \n \n 7,187 \n \n \n 7,709 \n \n \n \n \n \n 6,964 \n \n \n 6,547 \n \n \n 6,324 \n \n \n \n \n Operating costs \n \n \n (4,359) \n \n \n \n \n \n (4,379) \n \n \n (4,254) \n \n \n (4,149) \n \n \n (4,258) \n \n \n \n \n \n (4,244) \n \n \n (3,954) \n \n \n (3,999) \n \n \n \n \n UK regulatory levies \n \n \n (84) \n \n \n \n \n \n (229) \n \n \n 12 \n \n \n - \n \n \n (96) \n \n \n \n \n \n (227) \n \n \n 27 \n \n \n - \n \n \n \n \n Litigation and conduct \n \n \n (104) \n \n \n \n \n \n (50) \n \n \n (255) \n \n \n (76) \n \n \n (11) \n \n \n \n \n \n (121) \n \n \n (35) \n \n \n (7) \n \n \n \n \n Total operating expenses \n \n \n (4,547) \n \n \n \n \n \n (4,658) \n \n \n (4,497) \n \n \n (4,225) \n \n \n (4,365) \n \n \n \n \n \n (4,592) \n \n \n (3,962) \n \n \n (4,006) \n \n \n \n \n Other net income/(expenses) \n \n \n 21 \n \n \n \n \n \n (25) \n \n \n 39 \n \n \n (9) \n \n \n 18 \n \n \n \n \n \n - \n \n \n 21 \n \n \n 4 \n \n \n \n \n Profit before impairment \n \n \n 3,637 \n \n \n \n \n \n 2,394 \n \n \n 2,709 \n \n \n 2,953 \n \n \n 3,362 \n \n \n \n \n \n 2,372 \n \n \n 2,606 \n \n \n 2,322 \n \n \n \n \n Credit impairment charges \n \n \n (823) \n \n \n \n \n \n (535) \n \n \n (632) \n \n \n (469) \n \n \n (643) \n \n \n \n \n \n (711) \n \n \n (374) \n \n \n (384) \n \n \n \n \n Profit before tax \n \n \n 2,814 \n \n \n \n \n \n 1,859 \n \n \n 2,077 \n \n \n 2,484 \n \n \n 2,719 \n \n \n \n \n \n 1,661 \n \n \n 2,232 \n \n \n 1,938 \n \n \n \n \n Tax charges \n \n \n (638) \n \n \n \n \n \n (388) \n \n \n (365) \n \n \n (552) \n \n \n (621) \n \n \n \n \n \n (448) \n \n \n (412) \n \n \n (427) \n \n \n \n \n Profit after tax \n \n \n 2,176 \n \n \n \n \n \n 1,471 \n \n \n 1,712 \n \n \n 1,932 \n \n \n 2,098 \n \n \n \n \n \n 1,213 \n \n \n 1,820 \n \n \n 1,511 \n \n \n \n \n Non-controlling interests \n \n \n - \n \n \n \n \n \n (18) \n \n \n - \n \n \n (21) \n \n \n (2) \n \n \n \n \n \n (20) \n \n \n (3) \n \n \n (23) \n \n \n \n \n Other equity instrument holders \n \n \n (244) \n \n \n \n \n \n (258) \n \n \n (255) \n \n \n (252) \n \n \n (232) \n \n \n \n \n \n (228) \n \n \n (253) \n \n \n (251) \n \n \n \n \n Attributable profit \n \n \n 1,932 \n \n \n \n \n \n 1,195 \n \n \n 1,457 \n \n \n 1,659 \n \n \n 1,864 \n \n \n \n \n \n 965 \n \n \n 1,564 \n \n \n 1,237 \n \n \n \n \n   \n \n \n   \n \n \n \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Performance measures \n \n \n   \n \n \n \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Return on average tangible shareholders' equity \n \n \n 13.5% \n \n \n \n \n \n 8.5% \n \n \n 10.6% \n \n \n 12.3% \n \n \n 14.0% \n \n \n \n \n \n 7.5% \n \n \n 12.3% \n \n \n 9.9% \n \n \n \n \n Average tangible shareholders' equity (£bn) \n \n \n 57.2 \n \n \n \n \n \n 56.5 \n \n \n 55.1 \n \n \n 53.9 \n \n \n 53.1 \n \n \n \n \n \n 51.5 \n \n \n 51.0 \n \n \n 49.8 \n \n \n \n \n Cost: income ratio \n \n \n 56% \n \n \n \n \n \n 66% \n \n \n 63% \n \n \n 59% \n \n \n 57% \n \n \n   \n \n \n 66% \n \n \n 61% \n \n \n 63% \n \n \n \n \n Loan loss rate (bps) \n \n \n 74 \n \n \n \n \n \n 48 \n \n \n 57 \n \n \n 44 \n \n \n 61 \n \n \n \n \n \n 66 \n \n \n 37 \n \n \n 38 \n \n \n \n \n Basic earnings per ordinary share \n \n \n 14.1p \n \n \n \n \n \n 8.6p \n \n \n 10.4p \n \n \n 11.7p \n \n \n 13.0p \n \n \n   \n \n \n 6.7p \n \n \n 10.7p \n \n \n 8.3p \n \n \n \n \n Basic weighted average number of shares (m) \n \n \n 13,727 \n \n \n \n \n \n 13,883 \n \n \n 14,045 \n \n \n 14,211 \n \n \n 14,314 \n \n \n \n \n \n 14,432 \n \n \n 14,648 \n \n \n 14,915 \n \n \n \n \n Period end number of shares (m) \n \n \n 13,737 \n \n \n \n \n \n 13,867 \n \n \n 13,996 \n \n \n 14,180 \n \n \n 14,336 \n \n \n \n \n \n 14,420 \n \n \n 14,571 \n \n \n 14,826 \n \n \n \n \n Period end tangible shareholders' equity (£bn) \n \n \n 55.6 \n \n \n \n \n \n 56.8 \n \n \n 54.9 \n \n \n 54.5 \n \n \n 53.4 \n \n \n \n \n \n 51.5 \n \n \n 51.1 \n \n \n 50.4 \n \n \n \n \n   \n \n \n   \n \n \n \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Balance sheet and capital management 1 \n \n \n £bn \n \n \n \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n   \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 358.3 \n \n \n \n \n \n 352.8 \n \n \n 346.4 \n \n \n 339.2 \n \n \n 338.6 \n \n \n   \n \n \n 337.9 \n \n \n 326.5 \n \n \n 329.8 \n \n \n \n \n Loans and advances to banks at amortised cost \n \n \n 12.0 \n \n \n \n \n \n 8.7 \n \n \n 9.4 \n \n \n 8.7 \n \n \n 9.4 \n \n \n   \n \n \n 8.3 \n \n \n 8.1 \n \n \n 8.0 \n \n \n \n \n Debt securities at amortised cost \n \n \n 68.3 \n \n \n \n \n \n 68.5 \n \n \n 70.7 \n \n \n 69.9 \n \n \n 71.4 \n \n \n   \n \n \n 68.2 \n \n \n 64.6 \n \n \n 61.7 \n \n \n \n \n Loans and advances at amortised cost \n \n \n 438.6 \n \n \n \n \n \n 430.0 \n \n \n 426.5 \n \n \n 417.8 \n \n \n 419.4 \n \n \n   \n \n \n 414.5 \n \n \n 399.2 \n \n \n 399.5 \n \n \n \n \n Loans and advances at amortised cost impairment coverage ratio \n \n \n 1.3% \n \n \n \n \n \n 1.2% \n \n \n 1.2% \n \n \n 1.2% \n \n \n 1.2% \n \n \n   \n \n \n 1.2% \n \n \n 1.3% \n \n \n 1.4% \n \n \n \n \n Total assets \n \n \n 1,694.8 \n \n \n \n \n \n 1,544.2 \n \n \n 1,629.2 \n \n \n 1,598.7 \n \n \n 1,593.5 \n \n \n   \n \n \n 1,518.2 \n \n \n 1,531.1 \n \n \n 1,576.6 \n \n \n \n \n Deposits at amortised cost \n \n \n 587.6 \n \n \n \n \n \n 585.6 \n \n \n 575.3 \n \n \n 564.5 \n \n \n 574.3 \n \n \n   \n \n \n 560.7 \n \n \n 542.8 \n \n \n 557.5 \n \n \n \n \n Tangible net asset value per share \n \n \n 405p \n \n \n \n \n \n 409p \n \n \n 392p \n \n \n 384p \n \n \n 372p \n \n \n   \n \n \n 357p \n \n \n 351p \n \n \n 340p \n \n \n \n \n Common equity tier 1 ratio \n \n \n 14.1% \n \n \n \n \n \n 14.3% \n \n \n 14.1% \n \n \n 14.0% \n \n \n 13.9% \n \n \n   \n \n \n 13.6% \n \n \n 13.8% \n \n \n 13.6% \n \n \n \n \n Common equity tier 1 capital \n \n \n 51.2 \n \n \n \n \n \n 51.1 \n \n \n 50.3 \n \n \n 49.5 \n \n \n 48.8 \n \n \n   \n \n \n 48.6 \n \n \n 47.0 \n \n \n 47.7 \n \n \n \n \n Risk weighted assets \n \n \n 364.5 \n \n \n \n \n \n 356.8 \n \n \n 357.4 \n \n \n 353.0 \n \n \n 351.3 \n \n \n   \n \n \n 358.1 \n \n \n 340.4 \n \n \n 351.4 \n \n \n \n \n UK leverage ratio \n \n \n 4.8% \n \n \n \n \n \n 5.1% \n \n \n 4.9% \n \n \n 5.0% \n \n \n 5.0% \n \n \n   \n \n \n 5.0% \n \n \n 4.9% \n \n \n 5.0% \n \n \n \n \n UK leverage exposure \n \n \n 1,321.3 \n \n \n \n \n \n 1,247.3 \n \n \n 1,285.3 \n \n \n 1,259.8 \n \n \n 1,252.8 \n \n \n   \n \n \n 1,206.5 \n \n \n 1,197.4 \n \n \n 1,222.7 \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Funding and liquidity \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Group liquidity pool (£bn) \n \n \n 326.1 \n \n \n \n \n \n 337.8 \n \n \n 332.9 \n \n \n 333.7 \n \n \n 336.3 \n \n \n   \n \n \n 296.9 \n \n \n 311.7 \n \n \n 328.7 \n \n \n \n \n Liquidity coverage ratio \n \n \n 165.4% \n \n \n \n \n \n 170.0% \n \n \n 174.6% \n \n \n 177.7% \n \n \n 175.3% \n \n \n   \n \n \n 172.4% \n \n \n 170.1% \n \n \n 167.0% \n \n \n \n \n Net stable funding ratio \n \n \n 135.4% \n \n \n \n \n \n 135.2% \n \n \n 135.3% \n \n \n 135.6% \n \n \n 136.2% \n \n \n   \n \n \n 134.9% \n \n \n 135.6% \n \n \n 136.4% \n \n \n \n \n Loan: deposit ratio \n \n \n 75% \n \n \n \n \n \n 73% \n \n \n 74% \n \n \n 74% \n \n \n 73% \n \n \n   \n \n \n 74% \n \n \n 74% \n \n \n 72% \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Refer to pages 32 to 36 for further information on how capital, RWAs and leverage are calculated. \n \n \n \n \n   \n \n \n \n \n Barclays UK \n \n \n   \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n   \n \n \n \n \n   \n \n \n Q126 \n \n \n \n \n \n Q425 \n \n \n Q325 \n \n \n Q225 \n \n \n Q125 \n \n \n   \n \n \n Q424 1 \n \n \n Q324 \n \n \n Q224 \n \n \n \n \n Income statement information \n \n \n £m \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n   \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Net interest income \n \n \n 1,986 \n \n \n \n \n \n 2,015 \n \n \n 1,961 \n \n \n 1,855 \n \n \n 1,822 \n \n \n   \n \n \n 1,815 \n \n \n 1,666 \n \n \n 1,597 \n \n \n \n \n Net fee, commission and other income \n \n \n 272 \n \n \n \n \n \n 247 \n \n \n 292 \n \n \n 264 \n \n \n 252 \n \n \n   \n \n \n 800 \n \n \n 280 \n \n \n 290 \n \n \n \n \n Total income \n \n \n 2,258 \n \n \n \n \n \n 2,262 \n \n \n 2,253 \n \n \n 2,119 \n \n \n 2,074 \n \n \n   \n \n \n 2,615 \n \n \n 1,946 \n \n \n 1,887 \n \n \n \n \n Operating costs \n \n \n (1,174) \n \n \n \n \n \n (1,274) \n \n \n (1,189) \n \n \n (1,168) \n \n \n (1,115) \n \n \n   \n \n \n (1,170) \n \n \n (1,017) \n \n \n (1,041) \n \n \n \n \n UK regulatory levies \n \n \n (44) \n \n \n \n \n \n (41) \n \n \n (1) \n \n \n - \n \n \n (43) \n \n \n   \n \n \n (36) \n \n \n 12 \n \n \n - \n \n \n \n \n Litigation and conduct \n \n \n 1 \n \n \n \n \n \n (14) \n \n \n (8) \n \n \n (27) \n \n \n (2) \n \n \n   \n \n \n (9) \n \n \n (1) \n \n \n (4) \n \n \n \n \n Total operating expenses \n \n \n (1,217) \n \n \n \n \n \n (1,329) \n \n \n (1,198) \n \n \n (1,195) \n \n \n (1,160) \n \n \n   \n \n \n (1,215) \n \n \n (1,006) \n \n \n (1,045) \n \n \n \n \n Other net income \n \n \n - \n \n \n \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n   \n \n \n - \n \n \n - \n \n \n - \n \n \n \n \n Profit before impairment \n \n \n 1,041 \n \n \n \n \n \n 933 \n \n \n 1,055 \n \n \n 924 \n \n \n 914 \n \n \n   \n \n \n 1,400 \n \n \n 940 \n \n \n 842 \n \n \n \n \n Credit impairment charges \n \n \n (178) \n \n \n \n \n \n (74) \n \n \n (102) \n \n \n (79) \n \n \n (158) \n \n \n   \n \n \n (283) \n \n \n (16) \n \n \n (8) \n \n \n \n \n Profit before tax \n \n \n 863 \n \n \n \n \n \n 859 \n \n \n 953 \n \n \n 845 \n \n \n 756 \n \n \n   \n \n \n 1,117 \n \n \n 924 \n \n \n 834 \n \n \n \n \n Attributable profit \n \n \n 591 \n \n \n \n \n \n 706 \n \n \n 647 \n \n \n 580 \n \n \n 510 \n \n \n   \n \n \n 781 \n \n \n 621 \n \n \n 584 \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Balance sheet information \n \n \n £bn \n \n \n \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n   \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 217.8 \n \n \n \n \n \n 216.5 \n \n \n 213.4 \n \n \n 211.2 \n \n \n 209.6 \n \n \n   \n \n \n 207.7 \n \n \n 199.3 \n \n \n 198.7 \n \n \n \n \n Customer deposits at amortised cost \n \n \n 243.9 \n \n \n \n \n \n 244.6 \n \n \n 241.5 \n \n \n 241.3 \n \n \n 243.1 \n \n \n   \n \n \n 244.2 \n \n \n 236.3 \n \n \n 236.8 \n \n \n \n \n Loan: deposit ratio \n \n \n 95% \n \n \n \n \n \n 94% \n \n \n 95% \n \n \n 94% \n \n \n 93% \n \n \n   \n \n \n 92% \n \n \n 92% \n \n \n 91% \n \n \n \n \n Risk weighted assets \n \n \n 87.5 \n \n \n \n \n \n 85.8 \n \n \n 86.7 \n \n \n 86.1 \n \n \n 85.0 \n \n \n   \n \n \n 84.5 \n \n \n 77.5 \n \n \n 76.5 \n \n \n \n \n Period end allocated tangible equity \n \n \n 12.0 \n \n \n \n \n \n 11.8 \n \n \n 11.9 \n \n \n 11.8 \n \n \n 11.8 \n \n \n   \n \n \n 11.6 \n \n \n 10.7 \n \n \n 10.6 \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Performance measures \n \n \n   \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Return on average allocated tangible equity \n \n \n 19.7% \n \n \n \n \n \n 23.8% \n \n \n 21.8% \n \n \n 19.7% \n \n \n 17.4% \n \n \n   \n \n \n 28.0% \n \n \n 23.4% \n \n \n 22.3% \n \n \n \n \n Average allocated tangible equity (£bn) \n \n \n 12.0 \n \n \n \n \n \n 11.9 \n \n \n 11.9 \n \n \n 11.8 \n \n \n 11.7 \n \n \n   \n \n \n 11.2 \n \n \n 10.6 \n \n \n 10.5 \n \n \n \n \n Cost: income ratio \n \n \n 54% \n \n \n \n \n \n 59% \n \n \n 53% \n \n \n 56% \n \n \n 56% \n \n \n   \n \n \n 46% \n \n \n 52% \n \n \n 55% \n \n \n \n \n Loan loss rate (bps) \n \n \n 31 \n \n \n \n \n \n 13 \n \n \n 18 \n \n \n 14 \n \n \n 28 \n \n \n   \n \n \n 49 \n \n \n 3 \n \n \n 1 \n \n \n \n \n Net interest margin \n \n \n 3.72% \n \n \n \n \n \n 3.72% \n \n \n 3.68% \n \n \n 3.55% \n \n \n 3.55% \n \n \n   \n \n \n 3.53% \n \n \n 3.34% \n \n \n 3.22% \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Q424 includes the day 1 impacts from the acquisition of Tesco Bank: total Income includes a £556m gain, and credit impairment charges includes a £209m charge. \n \n \n \n \n   \n \n \n \n \n Analysis of Barclays UK \n \n \n Q126 \n \n \n \n \n \n Q425 \n \n \n Q325 \n \n \n Q225 \n \n \n Q125 \n \n \n   \n \n \n Q424 1 \n \n \n Q324 \n \n \n Q224 \n \n \n \n \n Analysis of total income \n \n \n £m \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n   \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Retail Banking \n \n \n 1,725 \n \n \n \n \n \n 1,702 \n \n \n 1,708 \n \n \n 1,599 \n \n \n 1,573 \n \n \n \n \n \n 2,078 \n \n \n 1,433 \n \n \n 1,402 \n \n \n \n \n Business Banking \n \n \n 533 \n \n \n \n \n \n 560 \n \n \n 545 \n \n \n 520 \n \n \n 501 \n \n \n   \n \n \n 537 \n \n \n 513 \n \n \n 485 \n \n \n \n \n Total income \n \n \n 2,258 \n \n \n \n \n \n 2,262 \n \n \n 2,253 \n \n \n 2,119 \n \n \n 2,074 \n \n \n   \n \n \n 2,615 \n \n \n 1,946 \n \n \n 1,887 \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Analysis of credit impairment (charges)/releases \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Retail Banking \n \n \n (179) \n \n \n \n \n \n (72) \n \n \n (98) \n \n \n (59) \n \n \n (145) \n \n \n \n \n \n (279) \n \n \n (12) \n \n \n (51) \n \n \n \n \n Business Banking \n \n \n 1 \n \n \n \n \n \n (2) \n \n \n (4) \n \n \n (20) \n \n \n (13) \n \n \n   \n \n \n (4) \n \n \n (4) \n \n \n 43 \n \n \n \n \n Total credit impairment charges \n \n \n (178) \n \n \n \n \n \n (74) \n \n \n (102) \n \n \n (79) \n \n \n (158) \n \n \n   \n \n \n (283) \n \n \n (16) \n \n \n (8) \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Analysis of loans and advances to customers at amortised cost \n \n \n £bn \n \n \n \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n   \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n Retail Banking \n \n \n 200.1 \n \n \n \n \n \n 198.6 \n \n \n 195.2 \n \n \n 192.4 \n \n \n 190.4 \n \n \n \n \n \n 188.0 \n \n \n 178.7 \n \n \n 177.5 \n \n \n \n \n Business Banking \n \n \n 17.7 \n \n \n \n \n \n 17.9 \n \n \n 18.2 \n \n \n 18.8 \n \n \n 19.2 \n \n \n   \n \n \n 19.7 \n \n \n 20.6 \n \n \n 21.2 \n \n \n \n \n Total loans and advances to customers at amortised cost \n \n \n 217.8 \n \n \n \n \n \n 216.5 \n \n \n 213.4 \n \n \n 211.2 \n \n \n 209.6 \n \n \n   \n \n \n 207.7 \n \n \n 199.3 \n \n \n 198.7 \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Analysis of customer deposits at amortised cost \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Retail Banking \n \n \n 193.1 \n \n \n \n \n \n 192.7 \n \n \n 189.3 \n \n \n 189.3 \n \n \n 190.8 \n \n \n \n \n \n 191.4 \n \n \n 182.9 \n \n \n 183.3 \n \n \n \n \n Business Banking \n \n \n 50.8 \n \n \n \n \n \n 51.9 \n \n \n 52.2 \n \n \n 52.0 \n \n \n 52.3 \n \n \n   \n \n \n 52.8 \n \n \n 53.4 \n \n \n 53.5 \n \n \n \n \n Total customer deposits at amortised cost \n \n \n 243.9 \n \n \n \n \n \n 244.6 \n \n \n 241.5 \n \n \n 241.3 \n \n \n 243.1 \n \n \n   \n \n \n 244.2 \n \n \n 236.3 \n \n \n 236.8 \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Q424 includes the day 1 impacts from the acquisition of Tesco Bank: total Income includes a £556m gain, and credit impairment charges includes a £209m charge. \n \n \n \n \n   \n \n \n \n \n Barclays UK Corporate Bank \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n   \n \n \n \n \n   \n \n \n Q126 \n \n \n \n \n \n Q425 \n \n \n Q325 \n \n \n Q225 \n \n \n Q125 \n \n \n   \n \n \n Q424 \n \n \n Q324 \n \n \n Q224 \n \n \n \n \n Income statement information \n \n \n £m \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n   \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Net interest income \n \n \n 394 \n \n \n \n \n \n 396 \n \n \n 383 \n \n \n 359 \n \n \n 342 \n \n \n \n \n \n 324 \n \n \n 309 \n \n \n 296 \n \n \n \n \n Net fee, commission, trading and other income \n \n \n 136 \n \n \n \n \n \n 143 \n \n \n 139 \n \n \n 160 \n \n \n 142 \n \n \n \n \n \n 134 \n \n \n 136 \n \n \n 147 \n \n \n \n \n Total income \n \n \n 530 \n \n \n \n \n \n 539 \n \n \n 522 \n \n \n 519 \n \n \n 484 \n \n \n \n \n \n 458 \n \n \n 445 \n \n \n 443 \n \n \n \n \n Operating costs \n \n \n (239) \n \n \n \n \n \n (272) \n \n \n (243) \n \n \n (240) \n \n \n (234) \n \n \n \n \n \n (250) \n \n \n (229) \n \n \n (235) \n \n \n \n \n UK regulatory levies \n \n \n (15) \n \n \n \n \n \n (14) \n \n \n 9 \n \n \n - \n \n \n (24) \n \n \n \n \n \n (14) \n \n \n 7 \n \n \n - \n \n \n \n \n Litigation and conduct \n \n \n - \n \n \n \n \n \n - \n \n \n - \n \n \n (39) \n \n \n - \n \n \n \n \n \n (1) \n \n \n - \n \n \n - \n \n \n \n \n Total operating expenses \n \n \n (254) \n \n \n \n \n \n (286) \n \n \n (234) \n \n \n (279) \n \n \n (258) \n \n \n \n \n \n (265) \n \n \n (222) \n \n \n (235) \n \n \n \n \n Other net income \n \n \n - \n \n \n \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n \n \n \n - \n \n \n - \n \n \n - \n \n \n \n \n Profit before impairment \n \n \n 276 \n \n \n \n \n \n 253 \n \n \n 288 \n \n \n 240 \n \n \n 226 \n \n \n \n \n \n 193 \n \n \n 223 \n \n \n 208 \n \n \n \n \n Credit impairment charges \n \n \n (3) \n \n \n \n \n \n (1) \n \n \n (5) \n \n \n (12) \n \n \n (19) \n \n \n \n \n \n (40) \n \n \n (13) \n \n \n (8) \n \n \n \n \n Profit before tax \n \n \n 273 \n \n \n \n \n \n 252 \n \n \n 283 \n \n \n 228 \n \n \n 207 \n \n \n \n \n \n 153 \n \n \n 210 \n \n \n 200 \n \n \n \n \n Attributable profit \n \n \n 187 \n \n \n \n \n \n 168 \n \n \n 196 \n \n \n 142 \n \n \n 142 \n \n \n \n \n \n 98 \n \n \n 144 \n \n \n 135 \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Balance sheet information \n \n \n £bn \n \n \n \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n   \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 30.8 \n \n \n \n \n \n 30.0 \n \n \n 29.0 \n \n \n 27.9 \n \n \n 26.7 \n \n \n \n \n \n 25.4 \n \n \n 24.8 \n \n \n 25.7 \n \n \n \n \n Deposits at amortised cost \n \n \n 88.0 \n \n \n \n \n \n 88.7 \n \n \n 86.7 \n \n \n 85.3 \n \n \n 85.3 \n \n \n \n \n \n 83.1 \n \n \n 82.3 \n \n \n 84.9 \n \n \n \n \n Risk weighted assets \n \n \n 27.3 \n \n \n \n \n \n 26.5 \n \n \n 25.2 \n \n \n 25.3 \n \n \n 24.2 \n \n \n \n \n \n 23.9 \n \n \n 22.1 \n \n \n 21.9 \n \n \n \n \n Period end allocated tangible equity \n \n \n 3.7 \n \n \n \n \n \n 3.7 \n \n \n 3.4 \n \n \n 3.5 \n \n \n 3.4 \n \n \n \n \n \n 3.3 \n \n \n 3.0 \n \n \n 3.0 \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Performance measures \n \n \n   \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Return on average allocated tangible equity \n \n \n 19.9% \n \n \n \n \n \n 19.1% \n \n \n 22.8% \n \n \n 16.6% \n \n \n 17.1% \n \n \n \n \n \n 12.3% \n \n \n 18.8% \n \n \n 18.0% \n \n \n \n \n Average allocated tangible equity (£bn) \n \n \n 3.8 \n \n \n \n \n \n 3.5 \n \n \n 3.4 \n \n \n 3.4 \n \n \n 3.3 \n \n \n \n \n \n 3.2 \n \n \n 3.1 \n \n \n 3.0 \n \n \n \n \n Cost: income ratio \n \n \n 48% \n \n \n \n \n \n 53% \n \n \n 45% \n \n \n 54% \n \n \n 53% \n \n \n \n \n \n 58% \n \n \n 50% \n \n \n 53% \n \n \n \n \n Loan loss rate (bps) \n \n \n 4 \n \n \n \n \n \n 1 \n \n \n 7 \n \n \n 17 \n \n \n 28 \n \n \n \n \n \n 62 \n \n \n 21 \n \n \n 12 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Analysis of total income \n \n \n £m \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Corporate lending \n \n \n 89 \n \n \n \n \n \n 97 \n \n \n 90 \n \n \n 90 \n \n \n 80 \n \n \n \n \n \n 71 \n \n \n 67 \n \n \n 57 \n \n \n \n \n Transaction banking \n \n \n 441 \n \n \n \n \n \n 442 \n \n \n 432 \n \n \n 429 \n \n \n 404 \n \n \n \n \n \n 387 \n \n \n 378 \n \n \n 386 \n \n \n \n \n Total income \n \n \n 530 \n \n \n \n \n \n 539 \n \n \n 522 \n \n \n 519 \n \n \n 484 \n \n \n \n \n \n 458 \n \n \n 445 \n \n \n 443 \n \n \n \n \n   \n \n \n \n \n Barclays Private Bank and Wealth Management \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n   \n \n \n \n \n   \n \n \n Q126 \n \n \n \n \n \n Q425 \n \n \n Q325 \n \n \n Q225 \n \n \n Q125 \n \n \n   \n \n \n Q424 \n \n \n Q324 \n \n \n Q224 \n \n \n \n \n Income statement information \n \n \n £m \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n   \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Net interest income \n \n \n 204 \n \n \n \n \n \n 202 \n \n \n 190 \n \n \n 203 \n \n \n 204 \n \n \n \n \n \n 216 \n \n \n 189 \n \n \n 187 \n \n \n \n \n Net fee, commission and other income \n \n \n 143 \n \n \n \n \n \n 146 \n \n \n 145 \n \n \n 145 \n \n \n 145 \n \n \n \n \n \n 135 \n \n \n 137 \n \n \n 133 \n \n \n \n \n Total income \n \n \n 347 \n \n \n \n \n \n 348 \n \n \n 335 \n \n \n 348 \n \n \n 349 \n \n \n \n \n \n 351 \n \n \n 326 \n \n \n 320 \n \n \n \n \n Operating costs \n \n \n (254) \n \n \n \n \n \n (279) \n \n \n (243) \n \n \n (238) \n \n \n (234) \n \n \n \n \n \n (255) \n \n \n (222) \n \n \n (220) \n \n \n \n \n UK regulatory levies \n \n \n (3) \n \n \n \n \n \n (7) \n \n \n (1) \n \n \n - \n \n \n (2) \n \n \n \n \n \n (7) \n \n \n 1 \n \n \n - \n \n \n \n \n Litigation and conduct \n \n \n - \n \n \n \n \n \n (10) \n \n \n 1 \n \n \n - \n \n \n - \n \n \n \n \n \n (1) \n \n \n - \n \n \n 1 \n \n \n \n \n Total operating expenses \n \n \n (257) \n \n \n \n \n \n (296) \n \n \n (243) \n \n \n (238) \n \n \n (236) \n \n \n \n \n \n (263) \n \n \n (221) \n \n \n (219) \n \n \n \n \n Other net income \n \n \n - \n \n \n \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n \n \n \n - \n \n \n - \n \n \n - \n \n \n \n \n Profit before impairment \n \n \n 90 \n \n \n \n \n \n 52 \n \n \n 92 \n \n \n 110 \n \n \n 113 \n \n \n \n \n \n 88 \n \n \n 105 \n \n \n 101 \n \n \n \n \n Credit impairment releases/(charges) \n \n \n 2 \n \n \n \n \n \n (2) \n \n \n (1) \n \n \n 2 \n \n \n 9 \n \n \n \n \n \n (2) \n \n \n (7) \n \n \n 3 \n \n \n \n \n Profit before tax \n \n \n 92 \n \n \n \n \n \n 50 \n \n \n 91 \n \n \n 112 \n \n \n 122 \n \n \n \n \n \n 86 \n \n \n 98 \n \n \n 104 \n \n \n \n \n Attributable profit \n \n \n 73 \n \n \n \n \n \n 35 \n \n \n 72 \n \n \n 88 \n \n \n 96 \n \n \n \n \n \n 63 \n \n \n 74 \n \n \n 77 \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Balance sheet information \n \n \n £bn \n \n \n \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n   \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 14.7 \n \n \n \n \n \n 14.7 \n \n \n 14.9 \n \n \n 14.5 \n \n \n 14.5 \n \n \n \n \n \n 14.5 \n \n \n 14.0 \n \n \n 13.9 \n \n \n \n \n Deposits at amortised cost \n \n \n 73.3 \n \n \n \n \n \n 72.0 \n \n \n 70.6 \n \n \n 66.7 \n \n \n 73.1 \n \n \n \n \n \n 69.5 \n \n \n 64.8 \n \n \n 64.6 \n \n \n \n \n Risk weighted assets \n \n \n 8.2 \n \n \n \n \n \n 8.0 \n \n \n 7.9 \n \n \n 7.9 \n \n \n 8.0 \n \n \n \n \n \n 7.9 \n \n \n 7.3 \n \n \n 7.0 \n \n \n \n \n Period end allocated tangible equity \n \n \n 1.1 \n \n \n \n \n \n 1.1 \n \n \n 1.1 \n \n \n 1.1 \n \n \n 1.1 \n \n \n \n \n \n 1.1 \n \n \n 1.0 \n \n \n 1.0 \n \n \n \n \n Client assets and liabilities 1 \n \n \n 223.8 \n \n \n \n \n \n 227.6 \n \n \n 221.5 \n \n \n 213.4 \n \n \n 212.4 \n \n \n \n \n \n 208.9 \n \n \n 201.5 \n \n \n 198.5 \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Performance measures \n \n \n   \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Return on average allocated tangible equity \n \n \n 25.5% \n \n \n \n \n \n 12.6% \n \n \n 26.4% \n \n \n 31.9% \n \n \n 34.5% \n \n \n \n \n \n 23.9% \n \n \n 29.0% \n \n \n 30.8% \n \n \n \n \n Average allocated tangible equity (£bn) \n \n \n 1.1 \n \n \n \n \n \n 1.1 \n \n \n 1.1 \n \n \n 1.1 \n \n \n 1.1 \n \n \n \n \n \n 1.1 \n \n \n 1.0 \n \n \n 1.0 \n \n \n \n \n Cost: income ratio \n \n \n 74% \n \n \n \n \n \n 85% \n \n \n 73% \n \n \n 68% \n \n \n 68% \n \n \n \n \n \n 75% \n \n \n 68% \n \n \n 68% \n \n \n \n \n Loan loss rate (bps) \n \n \n (6) \n \n \n \n \n \n 5 \n \n \n 3 \n \n \n (5) \n \n \n (25) \n \n \n   \n \n \n 5 \n \n \n 19 \n \n \n (9) \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Client assets and liabilities refers to deposits, lending and invested assets. \n \n \n \n \n   \n \n \n \n \n Barclays Investment Bank \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n   \n \n \n Q126 \n \n \n \n \n \n Q425 \n \n \n Q325 \n \n \n Q225 \n \n \n Q125 \n \n \n   \n \n \n Q424 \n \n \n Q324 \n \n \n Q224 \n \n \n \n \n Income statement information \n \n \n £m \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n   \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Net interest income \n \n \n 383 \n \n \n \n \n \n 356 \n \n \n 347 \n \n \n 334 \n \n \n 297 \n \n \n \n \n \n 284 \n \n \n 282 \n \n \n 268 \n \n \n \n \n Net trading income \n \n \n 2,358 \n \n \n \n \n \n 1,294 \n \n \n 1,581 \n \n \n 1,906 \n \n \n 2,416 \n \n \n \n \n \n 1,262 \n \n \n 1,512 \n \n \n 1,485 \n \n \n \n \n Net fee, commission and other income \n \n \n 1,287 \n \n \n \n \n \n 1,142 \n \n \n 1,155 \n \n \n 1,067 \n \n \n 1,160 \n \n \n \n \n \n 1,061 \n \n \n 1,057 \n \n \n 1,266 \n \n \n \n \n Total income \n \n \n 4,028 \n \n \n \n \n \n 2,792 \n \n \n 3,083 \n \n \n 3,307 \n \n \n 3,873 \n \n \n \n \n \n 2,607 \n \n \n 2,851 \n \n \n 3,019 \n \n \n \n \n Operating costs \n \n \n (2,107) \n \n \n \n \n \n (1,924) \n \n \n (2,010) \n \n \n (1,932) \n \n \n (2,061) \n \n \n \n \n \n (1,903) \n \n \n (1,906) \n \n \n (1,900) \n \n \n \n \n UK regulatory levies \n \n \n (22) \n \n \n \n \n \n (159) \n \n \n 5 \n \n \n - \n \n \n (27) \n \n \n \n \n \n (161) \n \n \n 7 \n \n \n - \n \n \n \n \n Litigation and conduct \n \n \n 2 \n \n \n \n \n \n (8) \n \n \n (9) \n \n \n (8) \n \n \n (3) \n \n \n \n \n \n (26) \n \n \n (17) \n \n \n (3) \n \n \n \n \n Total operating expenses \n \n \n (2,127) \n \n \n \n \n \n (2,091) \n \n \n (2,014) \n \n \n (1,940) \n \n \n (2,091) \n \n \n \n \n \n (2,090) \n \n \n (1,916) \n \n \n (1,903) \n \n \n \n \n Other net income \n \n \n - \n \n \n \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n \n \n \n - \n \n \n - \n \n \n - \n \n \n \n \n Profit before impairment \n \n \n 1,901 \n \n \n \n \n \n 701 \n \n \n 1,069 \n \n \n 1,367 \n \n \n 1,782 \n \n \n \n \n \n 517 \n \n \n 935 \n \n \n 1,116 \n \n \n \n \n Credit impairment charges \n \n \n (279) \n \n \n \n \n \n (22) \n \n \n (144) \n \n \n (67) \n \n \n (72) \n \n \n \n \n \n (46) \n \n \n (43) \n \n \n (44) \n \n \n \n \n Profit before tax \n \n \n 1,622 \n \n \n \n \n \n 679 \n \n \n 925 \n \n \n 1,300 \n \n \n 1,710 \n \n \n \n \n \n 471 \n \n \n 892 \n \n \n 1,072 \n \n \n \n \n Attributable profit \n \n \n 1,111 \n \n \n \n \n \n 294 \n \n \n 723 \n \n \n 876 \n \n \n 1,199 \n \n \n \n \n \n 247 \n \n \n 652 \n \n \n 715 \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Balance sheet information \n \n \n £bn \n \n \n \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n   \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 73.6 \n \n \n \n \n \n 70.0 \n \n \n 68.6 \n \n \n 66.8 \n \n \n 68.6 \n \n \n \n \n \n 69.7 \n \n \n 64.5 \n \n \n 66.6 \n \n \n \n \n Loans and advances to banks at amortised cost \n \n \n 10.0 \n \n \n \n \n \n 7.4 \n \n \n 7.5 \n \n \n 7.1 \n \n \n 7.4 \n \n \n \n \n \n 6.8 \n \n \n 6.7 \n \n \n 6.6 \n \n \n \n \n Debt securities at amortised cost \n \n \n 52.9 \n \n \n \n \n \n 52.9 \n \n \n 53.0 \n \n \n 52.4 \n \n \n 53.1 \n \n \n \n \n \n 47.9 \n \n \n 44.8 \n \n \n 41.7 \n \n \n \n \n Loans and advances at amortised cost \n \n \n 136.5 \n \n \n \n \n \n 130.3 \n \n \n 129.1 \n \n \n 126.3 \n \n \n 129.1 \n \n \n \n \n \n 124.4 \n \n \n 116.0 \n \n \n 114.9 \n \n \n \n \n Trading portfolio assets \n \n \n 189.3 \n \n \n \n \n \n 189.5 \n \n \n 191.3 \n \n \n 186.1 \n \n \n 185.5 \n \n \n \n \n \n 166.1 \n \n \n 185.8 \n \n \n 197.2 \n \n \n \n \n Derivative financial instrument assets \n \n \n 285.4 \n \n \n \n \n \n 251.5 \n \n \n 263.8 \n \n \n 279.0 \n \n \n 253.6 \n \n \n \n \n \n 291.6 \n \n \n 256.7 \n \n \n 251.4 \n \n \n \n \n Financial assets at fair value through the income statement \n \n \n 215.6 \n \n \n \n \n \n 183.6 \n \n \n 222.8 \n \n \n 215.2 \n \n \n 209.5 \n \n \n \n \n \n 190.4 \n \n \n 210.8 \n \n \n 211.7 \n \n \n \n \n Cash collateral and settlement balances \n \n \n 189.2 \n \n \n \n \n \n 121.6 \n \n \n 152.1 \n \n \n 145.0 \n \n \n 148.8 \n \n \n \n \n \n 111.1 \n \n \n 134.7 \n \n \n 139.8 \n \n \n \n \n   \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n   \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n Deposits at amortised cost \n \n \n 157.4 \n \n \n \n \n \n 156.1 \n \n \n 152.8 \n \n \n 148.7 \n \n \n 148.9 \n \n \n \n \n \n 140.5 \n \n \n 139.8 \n \n \n 151.3 \n \n \n \n \n Derivative financial instrument liabilities \n \n \n 272.6 \n \n \n \n \n \n 240.6 \n \n \n 252.0 \n \n \n 265.1 \n \n \n 245.1 \n \n \n \n \n \n 279.0 \n \n \n 249.4 \n \n \n 241.8 \n \n \n \n \n   \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n   \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n Risk weighted assets \n \n \n 201.7 \n \n \n \n \n \n 196.7 \n \n \n 199.1 \n \n \n 196.4 \n \n \n 195.9 \n \n \n \n \n \n 198.8 \n \n \n 194.2 \n \n \n 203.3 \n \n \n \n \n Period end allocated tangible equity \n \n \n 29.6 \n \n \n \n \n \n 28.9 \n \n \n 29.1 \n \n \n 28.7 \n \n \n 28.9 \n \n \n \n \n \n 29.3 \n \n \n 28.4 \n \n \n 29.7 \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Performance measures \n \n \n   \n \n \n \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Return on average allocated tangible equity \n \n \n 15.0% \n \n \n \n \n \n 4.0% \n \n \n 10.1% \n \n \n 12.2% \n \n \n 16.2% \n \n \n \n \n \n 3.4% \n \n \n 8.8% \n \n \n 9.6% \n \n \n \n \n Average allocated tangible equity (£bn) \n \n \n 29.7 \n \n \n \n \n \n 29.6 \n \n \n 28.6 \n \n \n 28.7 \n \n \n 29.6 \n \n \n \n \n \n 29.3 \n \n \n 29.5 \n \n \n 29.9 \n \n \n \n \n Income over average risk weighted assets \n \n \n 8.0% \n \n \n \n \n \n 5.5% \n \n \n 6.3% \n \n \n 6.7% \n \n \n 7.7% \n \n \n \n \n \n 5.2% \n \n \n 5.7% \n \n \n 5.9% \n \n \n \n \n Cost: income ratio \n \n \n 53% \n \n \n \n \n \n 75% \n \n \n 65% \n \n \n 59% \n \n \n 54% \n \n \n \n \n \n 80% \n \n \n 67% \n \n \n 63% \n \n \n \n \n Loan loss rate (bps) \n \n \n 82 \n \n \n \n \n \n 7 \n \n \n 44 \n \n \n 21 \n \n \n 23 \n \n \n \n \n \n 15 \n \n \n 15 \n \n \n 15 \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Analysis of total income \n \n \n £m \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n FICC \n \n \n 1,716 \n \n \n \n \n \n 1,024 \n \n \n 1,256 \n \n \n 1,450 \n \n \n 1,699 \n \n \n \n \n \n 934 \n \n \n 1,180 \n \n \n 1,149 \n \n \n \n \n Equities \n \n \n 1,116 \n \n \n \n \n \n 703 \n \n \n 689 \n \n \n 870 \n \n \n 963 \n \n \n \n \n \n 604 \n \n \n 692 \n \n \n 696 \n \n \n \n \n  Global Markets \n \n \n 2,832 \n \n \n \n \n \n 1,727 \n \n \n 1,945 \n \n \n 2,320 \n \n \n 2,662 \n ...

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