Half-year Financial Report

About this update from Barclays Plc

[{"type":"text","content":"\n \n   \n Barclays PLC \n   \n Interim Results Announcement \n   \n 30 June 2026 \n   \n Table of Contents \n   \n \n \n \n \n Results Announcement \n \n \n Page \n \n \n \n \n \n \n \n \n \n \n \n \n Notes \n \n \n 1 \n \n \n \n \n \n \n \n \n \n \n \n \n Performance Highlights \n \n \n 2 \n \n \n \n \n \n \n \n \n \n \n \n \n Group Finance Director's Review \n \n \n 5 \n \n \n \n \n \n \n \n \n \n \n \n \n Results by Business \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n •  Barclays UK \n \n \n 7 \n \n \n \n \n \n \n \n \n \n \n \n \n •  Barclays UK Corporate Bank \n \n \n 9 \n \n \n \n \n \n \n \n   \n \n \n \n \n •  Barclays Private Bank and Wealth Management \n \n \n 10 \n \n \n \n \n \n \n \n   \n \n \n \n \n •  Barclays Investment Bank \n \n \n 11 \n \n \n \n \n \n \n \n \n \n \n \n \n •  Barclays US Consumer Bank \n \n \n 13 \n \n \n \n \n \n \n \n \n \n \n \n \n • Head Office \n \n \n 15 \n \n \n \n \n \n \n \n \n \n \n \n \n Quarterly Results Summary \n \n \n 16 \n \n \n \n \n \n \n \n   \n \n \n \n \n Quarterly Results by Business \n \n \n 17 \n \n \n \n \n \n \n \n   \n \n \n \n \n Performance Management \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n •  Margins and Balances \n \n \n 24 \n \n \n \n \n   \n \n \n \n \n \n \n \n Risk Management \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n •  Risk Management and Principal Risks \n \n \n 26 \n \n \n \n \n \n \n \n \n \n \n \n \n •  Credit Risk \n \n \n 27 \n \n \n \n \n \n \n \n \n \n \n \n \n •  Market Risk \n \n \n 48 \n \n \n \n \n \n \n \n \n \n \n \n \n •  Treasury and Capital Risk \n \n \n 49 \n \n \n \n \n \n \n \n \n \n \n \n \n Statement of Directors' Responsibilities \n \n \n 59 \n \n \n \n \n   \n \n \n \n \n \n \n \n Independent Review Report to Barclays PLC \n \n \n 60 \n \n \n \n \n   \n \n \n \n \n \n \n \n Condensed Consolidated Financial Statements \n \n \n 62 \n \n \n \n \n \n \n \n \n \n \n \n \n Financial Statement Notes \n \n \n 68 \n \n \n \n \n \n \n \n \n \n \n \n \n Appendix: Non-IFRS Performance Measures \n \n \n 88 \n \n \n \n \n \n \n \n \n \n \n \n \n Shareholder Information \n \n \n 97 \n \n \n \n \n   \n BARCLAYS PLC, 1 CHURCHILL PLACE, LONDON, E14 5HP, UNITED KINGDOM. TELEPHONE: +44 (0) 20 7116 1000. COMPANY NO. 48839. \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 six months ended 30 June 2026 to the corresponding six months of 2025 and balance sheet analysis as at 30 June 2026 with comparatives relating to 31 December 2025 and 30 June 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 July 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) have been 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 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 85 to 93 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 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 Barclays delivered a return on tangible equity (RoTE) of 14.8% in H126, announced £2.3bn total capital distributions, and is on track to deliver its 2026 and 2028 targets \n   \n C. S. Venkatakrishnan, Group Chief Executive, commented \n \"I am pleased with another strong quarter for Barclays. Income for Q226 is £8.3bn, up £1.2bn from the same quarter last year. Profit before tax is £3.3bn, up 31% in the same period. Our earnings per share (EPS) has increased 43% to 16.7p, and our cost: income ratio improved to 54% from 59% a year earlier. We have a robust common equity tier 1 (CET1) ratio of 14.3%, above our 13% to 14% target range. We also delivered a RoTE of 16.1%. We continued deploying balance sheet in the UK, with year-on-year loan growth of 5%, and the Investment Bank performed well in a favourable environment, with a RoTE of 16.0%. Our performance supports distributions of £2.3bn for the first half of 2026, up 61% year-on-year. This includes a £1.0bn buyback and a c.£0.8bn dividend announced today. We are upgrading the 2026 Group income target to c.£31.5bn and remain committed to, and confident in, delivering all financial and distribution targets for 2026 and 2028.\" \n   \n \n \n \n \n ● \n \n \n H126 Group RoTE of 14.8% (H125: 13.2%) and Q226 Group RoTE of 16.1% (Q225: 12.3%) \n \n \n \n \n \n \n \n - \n \n \n All divisions delivered double-digit RoTE for H126 and Q226 \n \n \n \n \n ● \n \n \n H126 EPS of 30.7p (H125: 24.7p) and Q226 EPS of 16.7p (Q225: 11.7p) \n \n \n \n \n ● \n \n \n 2026 Group income target increased to c.£31.5bn (from c.£31bn) \n \n \n \n \n \n \n \n - \n \n \n 2026 Group net interest income (NII) excluding Barclays Investment Bank and Head Office increased to greater than £13.7bn (from greater than £13.5bn) \n \n \n \n \n ● \n \n \n Strong CET1 ratio of 14.3% and announced intention to initiate a share buyback of up to £1.0bn for Q226, and a dividend of 5.9p per share for H126 (H125: 3.0p) \n \n \n \n \n ● \n \n \n 5% growth in UK lending balances year-on-year in H126 \n \n \n \n \n \n \n \n - \n \n \n Delivered £25bn of c.£30bn planned UK risk weighted assets (RWAs) growth since 2024 1 (£3bn in Q226), of which £18bn was organic growth \n \n \n \n \n   \n Key financial metrics: \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 2 \n \n \n \n \n Q226 \n \n \n £8.3bn \n \n \n £3.3bn \n \n \n £2.3bn \n \n \n 54% \n \n \n 51bps \n \n \n 16.1% \n \n \n 16.7p \n \n \n 423p \n \n \n 14.3% \n \n \n £2.3bn \n \n \n \n \n H126 \n \n \n £16.5bn \n \n \n £6.1bn \n \n \n £4.2bn \n \n \n 55% \n \n \n 62bps \n \n \n 14.8% \n \n \n 30.7p \n \n \n \n \n   \n Q226 Performance highlights: \n   \n \n \n \n \n ● \n \n \n Group RoTE was 16.1% (Q225: 12.3%) with profit before tax of £3.3bn (Q225: £2.5bn) \n \n \n \n \n ● \n \n \n Group income of £8.3bn increased 16% year-on-year . Group NII excluding IB and Head Office was £3.4bn, up 10% year-on-year \n \n \n \n \n \n \n \n - \n \n \n Barclays UK income increased 7%, as higher structural hedge income was partially offset by retail deposit dynamics and mortgage margin compression \n \n \n \n \n \n \n \n - \n \n \n Barclays UK Corporate Bank (UKCB) income increased 8%, 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 increased 5%, reflecting growth in client balances, partially offset by the impact of deposit mix \n \n \n \n \n \n \n \n - \n \n \n Barclays Investment Bank (IB) income increased 20%, driven by Global Markets and Investment Banking fees \n \n \n \n \n \n \n \n - \n \n \n Barclays US Consumer Bank (USCB) income increased 38%, driven by portfolio changes including a c.£225m gain from the sale of the American Airlines co-branded credit cards portfolio (AA portfolio) and the impact of the Best Egg Inc. (Best Egg) acquisition \n \n \n \n \n ● \n \n \n Group total operating expenses were £4.5bn, up 7% year-on-year \n \n \n \n \n \n \n \n - \n \n \n Group operating costs increased to £4.5bn (Q225: £4.1bn), reflecting business growth (including higher performance costs), inflation and further investment spend (including the Best Egg acquisition), partially offset by c.£200m of cost efficiency savings \n \n \n \n \n ● \n \n \n Credit impairment charges were £0.6bn (Q225: £0.5bn ) with an LLR of 51bps (Q225: 44bps) \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 2 \n \n \n H126 total capital return: includes the £500m buyback announced at Q126 Results in addition to the £1.0bn buyback and c.£0.8bn dividend announced at H126 Results. \n \n \n \n \n   \n H126 Performance highlights: \n   \n \n \n \n \n ● \n \n \n Group RoTE was 14.8% (H125: 13.2%) with profit before tax of £6.1bn (H125: £5.2bn) \n \n \n \n \n ● \n \n \n Group income of £16.5bn increased 11% year-on-year. Group NII excluding IB and Head Office was £6.8bn, up 11% year-on-year \n \n \n \n \n ● \n \n \n Group total operating expenses were £9.1bn, up 6% year-on-year \n \n \n \n \n \n \n \n - \n \n \n Group operating costs increased 6% to £8.9bn, reflecting business growth (including higher performance costs), inflation, and further investment spend (including the Best Egg acquisition), partially offset by c.£350m 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 in Q126 \n \n \n \n \n ● \n \n \n Credit impairment charges were £1.4bn (H125: £1.1bn) with an LLR of 62bps (H125: 52bps), including a £0.2bn single name charge in the IB in Q126 \n \n \n \n \n ● \n \n \n Strong balance sheet with CET1 ratio of 14.3% (December 2025: 14.3%), with RWAs of £364.8bn (December 2025: £356.8bn) \n \n \n \n \n \n \n \n - \n \n \n Taking into account the impact of the £1.0bn share buyback announced today, the CET1 ratio as of 30 June 2026 would be reduced to 14.0%, at the top-end of the 13-14% range \n \n \n \n \n ● \n \n \n Tangible net asset value (TNAV) per share of 423p (December 2025: 409p) \n \n \n \n \n   \n Group financial targets 1 : \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.£31.5bn \n \n \n \n \n \n \n \n - \n \n \n Group NII excluding IB and Head Office greater than £13.7bn and Barclays UK NII around the middle of the £8.1bn - £8.3bn guided range \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.£8-15bn 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.£11bn RWAs from USCB moving to an Internal Ratings Based (IRB) model, subject to portfolio changes and regulatory approval, expected in H2 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 greater than £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 Half year ended \n \n \n \n \n \n Three months ended \n \n \n \n \n   \n \n \n 30.06.26 \n \n \n 30.06.25 \n \n \n   \n \n \n \n \n \n 30.06.26 \n \n \n 30.06.25 \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 £m \n \n \n £m \n \n \n % Change \n \n \n \n Barclays UK \n \n 4,517 \n \n \n 4,193 \n \n \n 8 \n \n \n \n \n \n 2,259 \n \n \n 2,119 \n \n \n 7 \n \n \n \n Barclays UK Corporate Bank \n \n 1,088 \n \n \n 1,003 \n \n \n 8 \n \n \n \n \n \n 558 \n \n \n 519 \n \n \n 8 \n \n \n \n Barclays Private Bank and Wealth  Management \n \n 713 \n \n \n 697 \n \n \n 2 \n \n \n \n \n \n 366 \n \n \n 348 \n \n \n 5 \n \n \n \n Barclays Investment Bank \n \n 7,986 \n \n \n 7,180 \n \n \n 11 \n \n \n \n \n \n 3,958 \n \n \n 3,307 \n \n \n 20 \n \n \n \n Barclays US Consumer Bank \n \n 2,119 \n \n \n 1,687 \n \n \n 26 \n \n \n \n \n \n 1,136 \n \n \n 823 \n \n \n 38 \n \n \n \n Head Office \n \n 78 \n \n \n 136 \n \n \n (43) \n \n \n \n \n \n 61 \n \n \n 71 \n \n \n (14) \n \n \n \n \n Total income \n \n \n 16,501 \n \n \n 14,896 \n \n \n 11 \n \n \n \n \n \n 8,338 \n \n \n 7,187 \n \n \n 16 \n \n \n \n \n Operating costs \n \n \n (8,873) \n \n \n (8,407) \n \n \n (6) \n \n \n \n \n \n (4,514) \n \n \n (4,149) \n \n \n (9) \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 \n - \n \n \n \n \n \n \n \n Litigation and conduct \n \n \n (108) \n \n \n (87) \n \n \n (24) \n \n \n \n \n \n (4) \n \n \n (76) \n \n \n 95 \n \n \n \n \n Total operating expenses \n \n \n (9,065) \n \n \n (8,590) \n \n \n (6) \n \n \n \n \n \n (4,518) \n \n \n (4,225) \n \n \n (7) \n \n \n \n \n Other net income/(expense) \n \n \n 24 \n \n \n 9 \n \n \n   \n \n \n \n \n \n 3 \n \n \n (9) \n \n \n   \n \n \n \n \n Profit before impairment \n \n \n 7,460 \n \n \n 6,315 \n \n \n 18 \n \n \n \n \n \n 3,823 \n \n \n 2,953 \n \n \n 29 \n \n \n \n \n Credit impairment charges \n \n \n (1,394) \n \n \n (1,112) \n \n \n (25) \n \n \n \n \n \n (571) \n \n \n (469) \n \n \n (22) \n \n \n \n \n Profit before tax \n \n \n 6,066 \n \n \n 5,203 \n \n \n 17 \n \n \n \n \n \n 3,252 \n \n \n 2,484 \n \n \n 31 \n \n \n \n \n Tax charge \n \n \n (1,369) \n \n \n (1,173) \n \n \n (17) \n \n \n \n \n \n (731) \n \n \n (552) \n \n \n (32) \n \n \n \n \n Profit after tax \n \n \n 4,697 \n \n \n 4,030 \n \n \n 17 \n \n \n \n \n \n 2,521 \n \n \n 1,932 \n \n \n 30 \n \n \n \n \n Non-controlling interests \n \n \n (19) \n \n \n (23) \n \n \n 17 \n \n \n \n \n \n (19) \n \n \n (21) \n \n \n 10 \n \n \n \n \n Other equity instrument holders \n \n \n (487) \n \n \n (484) \n \n \n (1) \n \n \n \n \n \n (243) \n \n \n (252) \n \n \n 4 \n \n \n \n \n Attributable profit \n \n \n 4,191 \n \n \n 3,523 \n \n \n 19 \n \n \n \n \n \n 2,259 \n \n \n 1,659 \n \n \n 36 \n \n \n \n \n   \n \n \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 Return on average tangible shareholders' equity \n \n \n 14.8% \n \n \n 13.2% \n \n \n   \n \n \n \n \n \n 16.1% \n \n \n 12.3% \n \n \n   \n \n \n \n \n Average tangible shareholders' equity (£bn) \n \n \n 56.7 \n \n \n 53.5 \n \n \n   \n \n \n \n \n \n 56.1 \n \n \n 53.9 \n \n \n   \n \n \n \n \n Cost: income ratio \n \n \n 55% \n \n \n 58% \n \n \n   \n \n \n \n \n \n 54% \n \n \n 59% \n \n \n   \n \n \n \n \n Loan loss rate (bps) \n \n \n 62 \n \n \n 52 \n \n \n   \n \n \n \n \n \n 51 \n \n \n 44 \n \n \n   \n \n \n \n \n Basic earnings per ordinary share \n \n \n 30.7p \n \n \n 24.7p \n \n \n 24 \n \n \n \n \n \n 16.7p \n \n \n 11.7p \n \n \n 43 \n \n \n \n \n Dividend per ordinary share \n \n \n 5.9p \n \n \n 3.0p \n \n \n 97 \n \n \n \n \n \n   \n \n \n \n \n \n   \n \n \n \n \n Share buybacks announced (£m) \n \n \n 1,500 \n \n \n 1,000 \n \n \n 50 \n \n \n \n \n \n 1,000 \n \n \n 1,000 \n \n \n - \n \n \n \n \n Total payout equivalent per share \n \n \n c.16.9p \n \n \n c.10.1p \n \n \n 69 \n \n \n \n \n \n   \n \n \n   \n \n \n \n \n \n \n \n Basic weighted average number of shares (m) \n \n \n 13,645 \n \n \n 14,262 \n \n \n (4) \n \n \n \n \n \n 13,565 \n \n \n 14,211 \n \n \n (5) \n \n \n \n \n Period end number of shares (m) \n \n \n 13,507 \n \n \n 14,180 \n \n \n (5) \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Period end tangible shareholders' equity (£bn) \n \n \n 57.2 \n \n \n 54.5 \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 As at 30.06.26 \n \n \n As at 31.12.25 \n \n \n As at 30.06.25 \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 444.8 \n \n \n 430.0 \n \n \n 417.8 \n \n \n \n \n Loans and advances at amortised cost impairment coverage ratio \n \n \n 1.2% \n \n \n 1.2% \n \n \n 1.2% \n \n \n \n \n Total assets \n \n \n 1,730.4 \n \n \n 1,544.2 \n \n \n 1,598.7 \n \n \n \n \n Deposits at amortised cost \n \n \n 594.4 \n \n \n 585.6 \n \n \n 564.5 \n \n \n \n \n Tangible net asset value per share \n \n \n 423p \n \n \n 409p \n \n \n 384p \n \n \n \n \n Common equity tier 1 ratio \n \n \n 14.3% \n \n \n 14.3% \n \n \n 14.0% \n \n \n \n \n Common equity tier 1 capital \n \n \n 52.2 \n \n \n 51.1 \n \n \n 49.5 \n \n \n \n \n Risk weighted assets \n \n \n 364.8 \n \n \n 356.8 \n \n \n 353.0 \n \n \n \n \n UK leverage ratio \n \n \n 4.9% \n \n \n 5.1% \n \n \n 5.0% \n \n \n \n \n UK leverage exposure \n \n \n 1,345.6 \n \n \n 1,247.3 \n \n \n 1,259.8 \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 346.7 \n \n \n 337.8 \n \n \n 333.7 \n \n \n \n \n Liquidity coverage ratio 2 \n \n \n 157.7% \n \n \n 170.0% \n \n \n 177.7% \n \n \n \n \n Net stable funding ratio 3 \n \n \n 135.8% \n \n \n 135.2% \n \n \n 135.6% \n \n \n \n \n Loan: deposit ratio \n \n \n 75% \n \n \n 73% \n \n \n 74% \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Refer to pages 54 to 58 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. \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 H126 Group performance \n   \n \n \n \n \n ● \n \n \n Barclays delivered a profit before tax of £6,066m (H125: £5,203m), RoTE of 14.8% (H125: 13.2%) and EPS of 30.7p (H125: 24.7p) \n \n \n \n \n ● \n \n \n The Group has a diverse income profile across businesses and geographies. The 4% 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 11% to £16,501m, due to higher income in Global Markets and Investment Banking fees, higher structural hedge income and the c.£225m gain from the sale of the AA portfolio \n \n \n \n \n ● \n \n \n Group total operating expenses increased to £9,065m (H125: £8,590m) \n \n \n \n \n \n \n \n - \n \n \n Group operating costs increased 6% to £8,873m, reflecting business growth (including higher performance costs), inflation, and further investment spend (including the Best Egg acquisition), partially offset by c.£350m of cost efficiency savings and FX movements \n \n \n \n \n \n \n \n - \n \n \n Litigation and conduct charges of £108m primarily reflected a £105m increase in the provision for the FCA motor finance redress scheme in Q126 \n \n \n \n \n ● \n \n \n Credit impairment charges increased to £1,394m (H125: £1,112m), primarily driven by a single name charge of £228m in IB in Q126. Total coverage ratio remained stable at 1.2% (December 2025: 1.2%) \n \n \n \n \n ● \n \n \n The effective tax rate (ETR) was 22.6% (H125: 22.5%) \n \n \n \n \n ● \n \n \n Attributable profit was £4,191m (H125: £3,523m) \n \n \n \n \n ● \n \n \n Total assets increased to £1,730.4bn (December 2025: £1,544.2bn) driven by higher trading activity in IB, growth in the liquidity pool and higher lending across the Group \n \n \n \n \n ● \n \n \n TNAV per share increased to 423p (December 2025: 409p) as EPS of 30.7p was partially offset by a 6p negative movement in the cash flow hedging reserve, a 6p reduction from FY25 dividends paid in Q126, and a 6p reduction from share awards vesting in Q126 \n \n \n \n \n   \n Group capital and leverage \n   \n \n \n \n \n ● \n \n \n The CET1 ratio remained stable at 14.3% (December 2025: 14.3%). Taking into account the impact of the £1.0bn share buyback announced today, the CET1 ratio as of 30 June 2026 would be reduced to 14.0% (at the top end of the 13-14% target range) \n \n \n \n \n ● \n \n \n Q226 USCB sale of the AA portfolio and acquisition of Best Egg resulted in a marginal increase in the CET1 ratio with a net release of £3.2bn RWAs partially offset by a £0.2bn decrease in CET1 capital, reflecting the c.£225m gain on sale of the AA portfolio offset by £0.5bn of goodwill and intangibles from the Best Egg acquisition. Excluding the impacts of these changes, other movements were: \n \n \n \n \n \n \n \n - \n \n \n 108bps increase from attributable profit \n \n \n \n \n \n \n \n - \n \n \n 68bps decrease driven by shareholder distributions including the now completed £1.5bn total share buybacks announced with FY25 and Q126 results, and the accrual for the total 2026 dividend \n \n \n \n \n \n \n \n - \n \n \n 40bps decrease due to a £9.8bn 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 £0.2bn increase in CET1 capital due to an increase in the currency translation reserve was offset by a £1.3bn increase in RWAs as a result of foreign exchange movements \n \n \n \n \n \n \n \n - \n \n \n 108bps increase from attributable profit \n \n \n \n \n ● \n \n \n The UK leverage ratio decreased to 4.9% (December 2025: 5.1%) as leverage exposure increased by £98.3bn to £1,345.6bn (December 2025: £1,247.3bn). The increase in leverage exposure was primarily driven by higher trading activity in IB \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 £346.7bn, an increase of £8.9bn from December 2025. The increase in the liquidity pool was primarily driven by deposit growth across businesses and increased term wholesale funding. \n \n \n \n \n ● \n \n \n The average 1 LCR was 157.7% (December 2025: 170.0%), equivalent to a surplus of £117.2bn (December 2025: £131.2bn) \n \n \n \n \n ● \n \n \n Total deposits increased to £594.4bn (December 2025: £585.6bn), primarily driven by deposit growth in the International Corporate Bank (ICB) \n \n \n \n \n ● \n \n \n The average 2 Net Stable Funding Ratio (NSFR) was 135.8% (December 2025: 135.2%), which represents a £171.7bn surplus (December 2025: £166.3bn) above the 100% regulatory requirement \n \n \n \n \n \n \n \n \n ● \n \n \n Wholesale funding outstanding, excluding repurchase agreements, was £236.0bn (December 2025: £220.1bn) \n \n \n \n \n ● \n \n \n The Group issued £9.9bn equivalent of minimum requirement for own funds and eligible liabilities (MREL) instruments from Barclays PLC (the Parent company), completing the targeted 2026 MREL issuance plan within H126. The Group has a strong MREL position with a ratio of 36.7%, which is in excess of the regulatory requirement of 30.5% excluding any applicable confidential institution specific Prudential Regulation Authority (PRA) buffer. The Group remains above its minimum capital regulatory requirements and applicable buffers \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Represents average of the last 12 spot month end ratios. \n \n \n \n \n 2 \n \n \n Represents average of the last four spot quarter end ratios. \n \n \n \n \n \n Other matters \n   \n \n \n \n \n ● \n \n \n Motor finance commission arrangements: In March 2026, the FCA published its final rules for an industry-wide redress scheme for eligible motor finance customers where a commission was payable by the lender to the broker. Barclays increased its provision in Q126 by £105m to reflect the expected financial impact of the redress scheme. Barclays holds a Motor Finance provision of £430m as at 30 June 2026. Barclays 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 of the rules which require financial redress even where customers suffered no demonstrable financial harm. On 2 July 2026, the Upper Tribunal ordered a suspension of parts of the redress scheme following four legal challenges to the FCA's final rules. The legal challenges are expected to be heard by the Upper Tribunal in Q426 or Q127. Such challenges will delay and may otherwise affect the implementation of the redress scheme. The legal and regulatory outcomes and the nature, extent and timing of any remediation action, therefore remain uncertain \n   \n \n \n \n \n ● \n \n \n USCB 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 £3.6bn of RWAs and generating a gain on sale of c.£225m \n \n \n \n \n \n \n \n - \n \n \n Best Egg acquisition: On 1 May 2026, Barclays completed the acquisition of Best Egg for c.£0.6bn subject to customary post-completion purchase price adjustments. Best Egg is a leading US direct-to-consumer personal loan origination platform focused on prime borrowers. Barclays has acquired c.£0.3bn of financial assets and c.£0.2bn of financial liabilities \n \n \n \n \n \n \n \n - \n \n \n The effect of both transactions is a marginal increase to the Group's CET1 ratio in Q226, with a net release of RWAs of £3.2bn and the c.£225m gain on sale from the AA portfolio exit, partially offset by a c.£0.5bn increase in goodwill and intangibles from the Best Egg acquisition \n   \n \n \n \n \n ● \n \n \n GoHenry acquisition: On 12 June 2026, Barclays announced that Barclays Bank UK PLC had entered into an agreement to acquire GoHenry, a money management platform for children and young people in the UK. Completion of the transaction is expected to occur in Q426, subject to regulatory approvals and other conditions. The transaction is expected to marginally reduce the Group's CET1 ratio \n   \n \n \n \n \n ● \n \n \n One Churchill Place: On 30 June 2026 Barclays announced it had acquired a 999-year leasehold interest in its global headquarters at One Churchill Place, London. The transaction secures Barclays' control in its global headquarters beyond the current lease term, due to expire in 2039, while providing greater certainty over long-term occupancy costs. The transaction values the acquired leasehold interest at £750m and is broadly neutral to the Group's CET1 ratio and earnings \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 Half year ended \n \n \n \n \n \n Three months ended \n \n \n \n \n \n \n \n 30.06.26 \n \n \n 30.06.25 \n \n \n \n \n \n \n \n \n 30.06.26 \n \n \n 30.06.25 \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 \n £m \n \n \n £m \n \n \n % Change \n \n \n \n \n Net interest income \n \n \n 3,986 \n \n \n 3,677 \n \n \n 8 \n \n \n \n \n \n 2,000 \n \n \n 1,855 \n \n \n 8 \n \n \n \n \n Net fee, commission and other income \n \n \n 531 \n \n \n 516 \n \n \n 3 \n \n \n \n \n \n 259 \n \n \n 264 \n \n \n (2) \n \n \n \n \n Total income \n \n \n 4,517 \n \n \n 4,193 \n \n \n 8 \n \n \n \n \n \n 2,259 \n \n \n 2,119 \n \n \n 7 \n \n \n \n \n Operating costs \n \n \n (2,368) \n \n \n (2,283) \n \n \n (4) \n \n \n \n \n \n (1,194) \n \n \n (1,168) \n \n \n (2) \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 \n - \n \n \n - \n \n \n \n \n \n \n \n Litigation and conduct \n \n \n - \n \n \n (29) \n \n \n \n \n \n \n \n \n (1) \n \n \n (27) \n \n \n 96 \n \n \n \n \n Total operating expenses \n \n \n (2,412) \n \n \n (2,355) \n \n \n (2) \n \n \n \n \n \n (1,195) \n \n \n (1,195) \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 \n - \n \n \n - \n \n \n \n \n Profit before impairment \n \n \n 2,105 \n \n \n 1,838 \n \n \n 15 \n \n \n \n \n \n 1,064 \n \n \n 924 \n \n \n 15 \n \n \n \n \n Credit impairment charges \n \n \n (338) \n \n \n (237) \n \n \n (43) \n \n \n \n \n \n (160) \n \n \n (79) \n \n \n \n \n \n \n \n Profit before tax \n \n \n 1,767 \n \n \n 1,601 \n \n \n 10 \n \n \n \n \n \n 904 \n \n \n 845 \n \n \n 7 \n \n \n \n \n Attributable profit \n \n \n 1,214 \n \n \n 1,090 \n \n \n 11 \n \n \n \n \n \n 623 \n \n \n 580 \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 \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 Return on average allocated tangible equity \n \n \n 20.1% \n \n \n 18.6% \n \n \n \n \n \n \n \n \n 20.4% \n \n \n 19.7% \n \n \n \n \n \n \n \n Average allocated tangible equity (£bn) \n \n \n 12.1 \n \n \n 11.7 \n \n \n \n \n \n \n \n \n 12.2 \n \n \n 11.8 \n \n \n \n \n \n \n \n Cost: income ratio \n \n \n 53% \n \n \n 56% \n \n \n \n \n \n \n \n \n 53% \n \n \n 56% \n \n \n \n \n \n \n \n Loan loss rate (bps) \n \n \n 28 \n \n \n 21 \n \n \n \n \n \n \n \n \n 27 \n \n \n 14 \n \n \n \n \n \n \n \n Net interest margin \n \n \n 3.70% \n \n \n 3.55% \n \n \n \n \n \n \n \n \n 3.68% \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 \n \n \n \n \n \n \n \n \n \n \n \n \n \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 As at 30.06.26 \n \n \n As at 30.06.25 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n UK mortgage balances (£bn) \n \n \n 176.7 \n \n \n 166.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Mortgage gross lending flow (£bn) \n \n \n 17.7 \n \n \n 15.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Average LTV of mortgage portfolio 1 \n \n \n 57% \n \n \n 54% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Average LTV of new mortgage lending 1 \n \n \n 70% \n \n \n 70% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Number of branches \n \n \n 206 \n \n \n 207 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Digitally active customers (m) 2 \n \n \n 14.1 \n \n \n 13.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 30 day arrears rate - total UK cards \n \n \n 0.9% \n \n \n 0.7% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 90 day arrears rate - total UK cards \n \n \n 0.3% \n \n \n 0.2% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \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 30.06.26 \n \n \n As at 31.12.25 \n \n \n As at 30.06.25 \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 £bn \n \n \n £bn \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 220.8 \n \n \n 216.5 \n \n \n 211.2 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total assets \n \n \n 304.9 \n \n \n 299.6 \n \n \n 299.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Customer deposits at amortised cost \n \n \n 245.6 \n \n \n 244.6 \n \n \n 241.3 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loan: deposit ratio \n \n \n 97% \n \n \n 94% \n \n \n 94% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Risk weighted assets \n \n \n 89.0 \n \n \n 85.8 \n \n \n 86.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Period end allocated tangible equity \n \n \n 12.4 \n \n \n 11.8 \n \n \n 11.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Average loan to value (LTV) of mortgages is balance weighted and reflects both residential and buy-to-let (BTL) mortgage portfolios within the Home Loans portfolio. \n \n \n \n \n 2 \n \n \n Excludes Tesco Bank \n \n \n \n \n   \n \n \n \n \n Analysis of Barclays UK \n \n \n Half year ended \n \n \n \n \n \n Three months ended \n \n \n \n \n 30.06.26 \n \n \n 30.06.25 \n \n \n   \n \n \n \n \n \n 30.06.26 \n \n \n 30.06.25 \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 \n £m \n \n \n £m \n \n \n % Change \n \n \n \n \n Retail Banking \n \n \n 3,436 \n \n \n 3,172 \n \n \n 8 \n \n \n \n \n \n 1,711 \n \n \n 1,599 \n \n \n 7 \n \n \n \n \n Business Banking \n \n \n 1,081 \n \n \n 1,021 \n \n \n 6 \n \n \n \n \n \n 548 \n \n \n 520 \n \n \n 5 \n \n \n \n \n Total income \n \n \n 4,517 \n \n \n 4,193 \n \n \n 8 \n \n \n \n \n \n 2,259 \n \n \n 2,119 \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 \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 Retail Banking \n \n \n (344) \n \n \n (204) \n \n \n (69) \n \n \n \n \n \n (165) \n \n \n (59) \n \n \n \n \n \n \n \n Business Banking \n \n \n 6 \n \n \n (33) \n \n \n \n \n \n \n \n \n 5 \n \n \n (20) \n \n \n \n \n \n \n \n Total credit impairment charges \n \n \n (338) \n \n \n (237) \n \n \n (43) \n \n \n \n \n \n (160) \n \n \n (79) \n \n \n   \n \n \n \n \n \n \n \n \n \n \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 30.06.26 \n \n \n As at 31.12.25 \n \n \n As at 30.06.25 \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 £bn \n \n \n £bn \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Retail Banking \n \n \n 203.1 \n \n \n 198.6 \n \n \n 192.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Business Banking \n \n \n 17.7 \n \n \n 17.9 \n \n \n 18.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total loans and advances to customers at amortised cost \n \n \n 220.8 \n \n \n 216.5 \n \n \n 211.2 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \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 Retail Banking \n \n \n 194.5 \n \n \n 192.7 \n \n \n 189.3 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Business Banking \n \n \n 51.1 \n \n \n 51.9 \n \n \n 52.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total customer deposits at amortised cost \n \n \n 245.6 \n \n \n 244.6 \n \n \n 241.3 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n   \n Barclays UK delivered a RoTE of 20.1% (H125: 18.6%) supported by robust income, disciplined cost management and underpinned by strong asset quality. \n   \n Income statement - H126 compared to H125 \n \n \n \n \n ● \n \n \n Profit before tax increased 10% to £1,767m \n \n \n \n \n ● \n \n \n Total income increased 8% to £4,517m. NII increased 8% to £3,986m, as higher structural hedge income was partially offset by retail deposit dynamics and mortgage margin compression. Net fee, commission and other income increased 3% to £531m \n \n \n \n \n ● \n \n \n Total operating expenses increased 2% to £2,412m, 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 £338m (H125: £237m), reflecting stable underlying credit performance. Total charges are higher than those in H125, which benefitted from a recalibration adjustment in the Retail credit cards portfolio to reflect resilient customer behaviour. Retail credit cards 30 and 90 day arrears rates were 0.9% (H125: 0.7%) and 0.3% (H125: 0.2%) respectively. The Retail credit cards total coverage ratio increased to 4.5% (December 2025: 4.3%) \n \n \n \n \n   \n Balance sheet - 30 June 2026 compared to 31 December 2025 \n \n \n \n \n ● \n \n \n Loans and advances to customers at amortised cost increased £4.3bn to £220.8bn , primarily driven by growth in mortgages, partially offset by the impact of securitisations \n \n \n \n \n ● \n \n \n Customer deposits at amortised cost increased by £1.0bn to £245.6bn, driven by an increase in Retail Banking deposits. The loan: deposit ratio remained broadly stable at 97% (December 2025: 94%) \n \n \n \n \n ● \n \n \n RWAs increased to £89.0bn (December 2025: £85.8bn), primarily due to growth in mortgages, partially offset by the securitisation of credit risk assets \n \n \n \n \n   \n \n \n \n \n Barclays UK Corporate Bank \n \n \n Half year ended \n \n \n   \n \n \n Three months ended \n \n \n \n \n \n \n \n 30.06.26 \n \n \n 30.06.25 \n \n \n   \n \n \n   \n \n \n 30.06.26 \n \n \n 30.06.25 \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 \n £m \n \n \n £m \n \n \n % Change \n \n \n \n \n Net interest income \n \n \n 807 \n \n \n 701 \n \n \n 15 \n \n \n \n \n \n 413 \n \n \n 359 \n \n \n 15 \n \n \n \n \n Net fee, commission and other income \n \n \n 281 \n \n \n 302 \n \n \n (7) \n \n \n \n \n \n 145 \n \n \n 160 \n \n \n (9) \n \n \n \n \n Total income \n \n \n 1,088 \n \n \n 1,003 \n \n \n 8 \n \n \n \n \n \n 558 \n \n \n 519 \n \n \n 8 \n \n \n \n \n Operating costs \n \n \n (488) \n \n \n (474) \n \n \n (3) \n \n \n \n \n \n (249) \n \n \n (240) \n \n \n (4) \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 \n - \n \n \n \n \n \n \n \n Litigation and conduct \n \n \n - \n \n \n (39) \n \n \n \n \n \n \n \n \n - \n \n \n (39) \n \n \n \n \n \n \n \n Total operating expenses \n \n \n (503) \n \n \n (537) \n \n \n 6 \n \n \n \n \n \n (249) \n \n \n (279) \n \n \n 11 \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 Profit before impairment \n \n \n 585 \n \n \n 466 \n \n \n 26 \n \n \n \n \n \n 309 \n \n \n 240 \n \n \n 29 \n \n \n \n \n Credit impairment charges \n \n \n (19) \n \n \n (31) \n \n \n 39 \n \n \n \n \n \n (16) \n \n \n (12) \n \n \n (33) \n \n \n \n \n Profit before tax \n \n \n 566 \n \n \n 435 \n \n \n 30 \n \n \n \n \n \n 293 \n \n \n 228 \n \n \n 29 \n \n \n \n \n Attributable profit \n \n \n 388 \n \n \n 284 \n \n \n 37 \n \n \n \n \n \n 201 \n \n \n 142 \n \n \n 42 \n \n \n \n \n \n \n \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 Return on average allocated tangible equity \n \n \n 20.6% \n \n \n 16.8% \n \n \n \n \n \n \n \n \n 21.3% \n \n \n 16.6% \n \n \n \n \n \n \n \n Average allocated tangible equity (£bn) \n \n \n 3.8 \n \n \n 3.4 \n \n \n \n \n \n \n \n \n 3.8 \n \n \n 3.4 \n \n \n \n \n \n \n \n Cost: income ratio \n \n \n 46% \n \n \n 54% \n \n \n \n \n \n \n \n \n 45% \n \n \n 54% \n \n \n \n \n \n \n \n Loan loss rate (bps) \n \n \n 12 \n \n \n 22 \n \n \n \n \n \n \n \n \n 20 \n \n \n 17 \n \n \n \n \n \n \n \n \n \n \n \n \n \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 30.06.26 \n \n \n As at 31.12.25 \n \n \n As at 30.06.25 \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 £bn \n \n \n £bn \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 31.3 \n \n \n 30.0 \n \n \n 27.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Deposits at amortised cost \n \n \n 89.1 \n \n \n 88.7 \n \n \n 85.3 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Risk weighted assets \n \n \n 26.6 \n \n \n 26.5 \n \n \n 25.3 \n \n \n \n \n \n \n \n \n \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 3.5 \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 \n \n \n \n \n \n Half year ended \n \n \n   \n \n \n Three months ended \n \n \n \n \n \n \n \n 30.06.26 \n \n \n 30.06.25 \n \n \n   \n \n \n   \n \n \n 30.06.26 \n \n \n 30.06.25 \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 \n £m \n \n \n £m \n \n \n % Change \n \n \n \n \n Corporate lending \n \n \n 185 \n \n \n 170 \n \n \n 9 \n \n \n \n \n \n 96 \n \n \n 90 \n \n \n 7 \n \n \n \n \n Transaction banking \n \n \n 903 \n \n \n 833 \n \n \n 8 \n \n \n \n \n \n 462 \n \n \n 429 \n \n \n 8 \n \n \n \n \n Total income \n \n \n 1,088 \n \n \n 1,003 \n \n \n 8 \n \n \n \n \n \n 558 \n \n \n 519 \n \n \n 8 \n \n \n \n \n   \n UKCB delivered a RoTE of 20.6% (H125: 16.8%) , reflecting increased income from higher average deposit and lending balances, and positive operating jaws. \n   \n Income statement - H126 compared to H125 \n \n \n \n \n ● \n \n \n Profit before tax increased 30% to £566m \n \n \n \n \n ● \n \n \n Total income increased 8% to £1,088m, NII increased 15% to £807m, driven by higher average deposit and lending balances, and structural hedge income benefit. Net fee, commission and other income decreased 7% to £281m driven by lower liquidity pool income \n \n \n \n \n ● \n \n \n Total operating expenses decreased 6% to £503m, reflecting the non-repeat of prior year litigation and conduct charges. Operating costs increased 3% to £488m, reflecting higher investment spend to support business growth strategy, with ongoing efficiency savings offsetting inflationary headwinds \n \n \n \n \n ● \n \n \n Credit impairment charges were £19m (H125: £31m) , reflecting stable underlying credit performance and limited single name charges \n \n \n \n \n   \n Balance sheet - 30 June 2026 compared to 31 December 2025 \n \n \n \n \n ● \n \n \n Loans and advances to customers at amortised cost increased to £31.3bn (December 2025: £30.0bn), reflecting the strategic focus to grow lending \n \n \n \n \n ● \n \n \n Deposits at amortised cost increased to £89.1bn (December 2025: £88.7bn), driven by an inflow of balances from new and existing clients \n \n \n \n \n ● \n \n \n RWAs were stable at £26.6bn (December 2025: £26.5bn) \n \n \n \n \n   \n \n \n \n \n Barclays Private Bank and Wealth Management \n \n \n Half year ended \n \n \n   \n \n \n Three months ended \n \n \n \n \n \n \n \n 30.06.26 \n \n \n 30.06.25 \n \n \n   \n \n \n \n \n \n 30.06.26 \n \n \n 30.06.25 \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 \n £m \n \n \n £m \n \n \n % Change \n \n \n \n \n Net interest income \n \n \n 420 \n \n \n 407 \n \n \n 3 \n \n \n \n \n \n 216 \n \n \n 203 \n \n \n 6 \n \n \n \n \n Net fee, commission and other income \n \n \n 293 \n \n \n 290 \n \n \n 1 \n \n \n \n \n \n 150 \n \n \n 145 \n \n \n 3 \n \n \n \n \n Total income \n \n \n 713 \n \n \n 697 \n \n \n 2 \n \n \n \n \n \n 366 \n \n \n 348 \n \n \n 5 \n \n \n \n \n Operating costs \n \n \n (521) \n \n \n (472) \n \n \n (10) \n \n \n \n \n \n (267) \n \n \n (238) \n \n \n (12) \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 \n - \n \n \n - \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 \n - \n \n \n \n \n \n \n \n Total operating expenses \n \n \n (524) \n \n \n (474) \n \n \n (11) \n \n \n \n \n \n (267) \n \n \n (238) \n \n \n (12) \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 Profit before impairment \n \n \n 189 \n \n \n 223 \n \n \n (15) \n \n \n \n \n \n 99 \n \n \n 110 \n \n \n (10) \n \n \n \n \n Credit impairment (charges)/ releases \n \n \n (3) \n \n \n 11 \n \n \n \n \n \n \n \n \n (5) \n \n \n 2 \n \n \n \n \n \n \n \n Profit before tax \n \n \n 186 \n \n \n 234 \n \n \n (21) \n \n \n \n \n \n 94 \n \n \n 112 \n \n \n (16) \n \n \n \n \n Attributable profit \n \n \n 148 \n \n \n 184 \n \n \n (20) \n \n \n \n \n \n 75 \n \n \n 88 \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 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 Return on average allocated tangible equity \n \n \n 26.1% \n \n \n 33.2% \n \n \n \n \n \n \n \n \n 26.9% \n \n \n 31.9% \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 \n 1.1 \n \n \n 1.1 \n \n \n \n \n \n \n \n Cost: income ratio \n \n \n 73% \n \n \n 68% \n \n \n \n \n \n \n \n \n 73% \n \n \n 68% \n \n \n \n \n \n \n \n Loan loss rate (bps) \n \n \n 4 \n \n \n (15) \n \n \n \n \n \n \n \n \n 13 \n \n \n (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 Key facts \n \n \n £bn \n \n \n £bn \n \n \n \n \n \n   \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 1.8 \n \n \n 1.9 \n \n \n \n \n \n \n \n \n 0.3 \n \n \n 0.9 \n \n \n \n \n \n \n \n   \n \n \n \n \n \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 30.06.26 \n \n \n As at 31.12.25 \n \n \n As at 30.06.25 \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 £bn \n \n \n £bn \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 14.8 \n \n \n 14.7 \n \n \n 14.5 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Deposits at amortised cost \n \n \n 72.7 \n \n \n 72.0 \n \n \n 66.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Risk weighted assets \n \n \n 8.0 \n \n \n 8.0 \n \n \n 7.9 \n \n \n \n \n \n \n \n \n \n \n \n \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 \n \n \n \n \n \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 142.5 \n \n \n 140.6 \n \n \n 131.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Of which: \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Assets under management 1 \n \n \n 55.8 \n \n \n 52.9 \n \n \n 48.5 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Assets under supervision 1 \n \n \n 86.7 \n \n \n 87.7 \n \n \n 83.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Client assets and liabilities 3 \n \n \n 230.2 \n \n \n 227.6 \n \n \n 213.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n   \n PBWM delivered a RoTE of 26.1% (H125: 33.2% ), reflecting higher costs from accelerated investment to support future growth and efficiency strategy, and a higher impairment charge. \n   \n Income statement - H126 compared to H125 \n \n \n \n \n ● \n \n \n Profit before tax decreased 21% to £186m \n \n \n \n \n ● \n \n \n Total income increased 2% to £713m, driven by growth in client balances, partially offset by the impact of deposit mix \n \n \n \n \n ● \n \n \n Total operating expenses increased 11% to £524m, reflecting ongoing investment to support business growth strategy and inflationary headwinds, partially offset by efficiency savings \n \n \n \n \n   \n Balance sheet - 30 June 2026 compared to 31 December 2025 \n \n \n \n \n ● \n \n \n Client assets and liabilities increased £2.6bn to £230.2bn , driven by higher invested assets due to market movements and net new inflow of deposit balances \n \n \n \n \n ● \n \n \n RWAs were stable at £8.0bn (December 2025: £8.0bn) \n \n \n \n \n   \n \n \n \n \n 1 \n \n \n Refer to page 88 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 Half year ended \n \n \n   \n \n \n Three months ended \n \n \n \n \n \n \n \n 30.06.26 \n \n \n 30.06.25 \n \n \n   \n \n \n   \n \n \n 30.06.26 \n \n \n 30.06.25 \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 \n £m \n \n \n £m \n \n \n % Change \n \n \n \n \n Net interest income \n \n \n 794 \n \n \n 631 \n \n \n 26 \n \n \n \n \n \n 411 \n \n \n 334 \n \n \n 23 \n \n \n \n \n Net trading income \n \n \n 4,629 \n \n \n 4,322 \n \n \n 7 \n \n \n \n \n \n 2,271 \n \n \n 1,906 \n \n \n 19 \n \n \n \n \n Net fee, commission and other income \n \n \n 2,563 \n \n \n 2,227 \n \n \n 15 \n \n \n \n \n \n 1,276 \n \n \n 1,067 \n \n \n 20 \n \n \n \n \n Total income \n \n \n 7,986 \n \n \n 7,180 \n \n \n 11 \n \n \n \n \n \n 3,958 \n \n \n 3,307 \n \n \n 20 \n \n \n \n \n Operating costs \n \n \n (4,306) \n \n \n (3,993) \n \n \n (8) \n \n \n \n \n \n (2,199) \n \n \n (1,932) \n \n \n (14) \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 \n - \n \n \n \n \n \n \n \n Litigation and conduct \n \n \n 2 \n \n \n (11) \n \n \n \n \n \n \n \n \n - \n \n \n (8) \n \n \n \n \n \n \n \n Total operating expenses \n \n \n (4,326) \n \n \n (4,031) \n \n \n (7) \n \n \n \n \n \n (2,199) \n \n \n (1,940) \n \n \n (13) \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 Profit before impairment \n \n \n 3,660 \n \n \n 3,149 \n \n \n 16 \n \n \n \n \n \n 1,759 \n \n \n 1,367 \n \n \n 29 \n \n \n \n \n Credit impairment charges \n \n \n (323) \n \n \n (139) \n \n \n \n \n \n \n \n \n (44) \n \n \n (67) \n \n \n 34 \n \n \n \n \n Profit before tax \n \n \n 3,337 \n \n \n 3,010 \n \n \n 11 \n \n \n \n \n \n 1,715 \n \n \n 1,300 \n \n \n 32 \n \n \n \n \n Attributable profit \n \n \n 2,315 \n \n \n 2,075 \n \n \n 12 \n \n \n \n \n \n 1,204 \n \n \n 876 \n \n \n 37 \n \n \n \n \n \n \n \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 Return on average allocated tangible equity \n \n \n 15.5% \n \n \n 14.2% \n \n \n \n \n \n \n \n \n 16.0% \n \n \n 12.2% \n \n \n \n \n \n \n \n Average allocated tangible equity (£bn) \n \n \n 29.9 \n \n \n 29.2 \n \n \n \n \n \n \n \n \n 30.0 \n \n \n 28.7 \n \n \n \n \n \n \n \n Income over average risk weighted assets \n \n \n 7.9% \n \n \n 7.2% \n \n \n \n \n \n \n \n \n 7.7% \n \n \n 6.7% \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 \n 56% \n \n \n 59% \n \n \n \n \n \n \n \n Loan loss rate (bps) \n \n \n 47 \n \n \n 22 \n \n \n \n \n \n \n \n \n 13 \n \n \n 21 \n \n \n \n \n \n \n \n \n \n \n \n \n \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 30.06.26 \n \n \n As at 31.12.25 \n \n \n As at 30.06.25 \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 £bn \n \n \n £bn \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 70.8 \n \n \n 70.0 \n \n \n 66.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loans and advances to banks at amortised cost \n \n \n 11.0 \n \n \n 7.4 \n \n \n 7.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Debt securities at amortised cost \n \n \n 54.5 \n \n \n 52.9 \n \n \n 52.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loans and advances at amortised cost \n \n \n 136.3 \n \n \n 130.3 \n \n \n 126.3 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Trading portfolio assets \n \n \n 208.2 \n \n \n 189.5 \n \n \n 186.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Financial assets at fair value through the income statement \n \n \n 209.9 \n \n \n 183.6 \n \n \n 215.2 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Derivative financial instrument assets \n \n \n 302.6 \n \n \n 251.5 \n \n \n 279.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Cash collateral and settlement balances \n \n \n 182.5 \n \n \n 121.6 \n \n \n 145.0 \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 \n \n \n Deposits at amortised cost \n \n \n 162.3 \n \n \n 156.1 \n \n \n 148.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Derivative financial instrument liabilities \n \n \n 291.6 \n \n \n 240.6 \n \n \n 265.1 \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 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Risk weighted assets \n \n \n 204.1 \n \n \n 196.7 \n \n \n 196.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Period end allocated tangible equity \n \n \n 30.1 \n \n \n 28.9 \n \n \n 28.7 \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 Half year ended \n \n \n   \n \n \n Three months ended \n \n \n \n \n \n \n \n 30.06.26 \n \n \n 30.06.25 \n \n \n   \n \n \n \n \n \n 30.06.26 \n \n \n 30.06.25 \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 \n £m \n \n \n £m \n \n \n % Change \n \n \n \n \n FICC \n \n \n 3,187 \n \n \n 3,149 \n \n \n 1 \n \n \n \n \n \n 1,471 \n \n \n 1,450 \n \n \n 1 \n \n \n \n \n Equities \n \n \n 2,377 \n \n \n 1,833 \n \n \n 30 \n \n \n \n \n \n 1,261 \n \n \n 870 \n \n \n 45 \n \n \n \n \n  Global Markets \n \n \n 5,564 \n \n \n 4,982 \n \n \n 12 \n \n \n \n \n \n 2,732 \n \n \n 2,320 \n \n \n 18 \n \n \n \n \n Advisory \n \n \n 443 \n \n \n 266 \n \n \n 67 \n \n \n \n \n \n 188 \n \n \n 123 \n \n \n 53 \n \n \n \n \n Equity capital markets \n \n \n 249 \n \n \n 151 \n \n \n 65 \n \n \n \n \n \n 157 \n \n \n 81 \n \n \n 94 \n \n \n \n \n Debt capital markets \n \n \n 809 \n \n \n 795 \n \n \n 2 \n \n \n \n \n \n 402 \n \n \n 364 \n \n \n 10 \n \n \n \n \n Banking fees and underwriting \n \n \n 1,501 \n \n \n 1,212 \n \n \n 24 \n \n \n \n \n \n 747 \n \n \n 568 \n \n \n 32 \n \n \n \n \n Corporate lending \n \n \n 53 \n \n \n 152 \n \n \n (65) \n \n \n \n \n \n 37 \n \n \n (4) \n \n \n \n \n \n \n \n Transaction banking \n \n \n 868 \n \n \n 834 \n \n \n 4 \n \n \n \n \n \n 442 \n \n \n 423 \n \n \n 4 \n \n \n \n \n International Corporate Bank \n \n \n 921 \n \n \n 986 \n \n \n (7) \n \n \n \n \n \n 479 \n \n \n 419 \n \n \n 14 \n \n \n \n \n  Investment Banking \n \n \n 2,422 \n \n \n 2,198 \n \n \n 10 \n \n \n \n \n \n 1,226 \n \n \n 987 \n \n \n 24 \n \n \n \n \n Total income \n \n \n 7,986 \n \n \n 7,180 \n \n \n 11 \n \n \n \n \n \n 3,958 \n \n \n 3,307 \n \n \n 20 \n \n \n \n \n   \n IB delivered a RoTE of 15.5% (H125: 14.2% ), driven by higher Global Markets, Investment Banking fees and underwriting income, whilst maintaining cost and capital discipline, driving positive operating jaws and improved RWA productivity. \n   \n Income statement - H126 compared to H125 \n \n \n \n \n ● \n \n \n Profit before tax increased to £3,337m (H125: £3,010m) \n \n \n \n \n ● \n \n \n IB has a diverse income profile across businesses and geographies. The 4% 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 11% to £7,986m, 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 12% to £5,564m, 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 stable at £3,187m (H125: £3,149m), despite strong prior year performance, 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 30% to £2,377m, reflecting growth in Prime Financing balances, and Equity Derivatives \n \n \n \n \n \n \n \n - \n \n \n Investment Banking income increased 10% to £2,422m \n \n \n \n \n \n \n \n \n \n \n - \n \n \n Banking fees and underwriting income increased 24% to £1,501m, primarily driven by Advisory and Equity Capital Markets, up 67% and 65% respectively. Debt Capital Markets were broadly stable \n \n \n \n \n \n \n \n \n \n \n - \n \n \n ICB income decreased 7% to £921m. Transaction banking income increased 4% to £868m, 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 £53m, reflecting the non-repeat of fair value gains on leverage finance lending (c.£105m) in Q125, while underlying business performance was broadly stable \n \n \n \n \n ● \n \n \n Total operating expenses increased to £4,326m (H125: £4,031m), driven by higher performance costs partially offset by efficiency savings and the impact of strengthening average GBP against USD \n \n \n \n \n ● \n \n \n Credit impairment charges increased to £323m (H125: £139m) , primarily driven by a single name charge of £228m in Q126 \n \n \n \n \n   \n Balance sheet - 30 June 2026 compared to 31 December 2025 \n \n \n \n \n ● \n \n \n Loans and advances at amortised cost increased to £136.3bn (December 2025: £130.3bn) , driven by increased lending in Investment Banking \n \n \n \n \n ● \n \n \n Trading portfolio assets increased to £208.2bn (December 2025: £189.5bn) , driven by increased trading activity in debt securities to facilitate client demand in Global Markets \n \n \n \n \n ● \n \n \n Financial assets at fair value through the income statement increased to £209.9bn (December 2025: £183.6bn) , driven by increased secured lending in Global Markets \n \n \n \n \n ● \n \n \n Derivative financial instrument assets increased to £302.6bn (December 2025: £251.5bn) and liabilities increased to £291.6bn (December 2025: £240.6bn) , reflecting an increase in client activity and mark-to-market in Equity and FX Derivatives \n \n \n \n \n ● \n \n \n Deposits at amortised cost increased to £162.3bn (December 2025: £156.1bn) , driven by growth in deposits primarily in the ICB \n \n \n \n \n ● \n \n \n RWAs increased to £204.1bn (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 Barclays US Consumer Bank \n \n \n Half year ended \n \n \n   \n \n \n Three months ended \n \n \n \n \n \n \n \n 30.06.26 \n \n \n 30.06.25 \n \n \n   \n \n \n   \n \n \n 30.06.26 \n \n \n 30.06.25 \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 \n £m \n \n \n £m \n \n \n % Change \n \n \n \n \n Net interest income \n \n \n 1,555 \n \n \n 1,318 \n \n \n 18 \n \n \n \n \n \n 732 \n \n \n 640 \n \n \n 14 \n \n \n \n \n Net fee, commission and other income \n \n \n 564 \n \n \n 369 \n \n \n 53 \n \n \n \n \n \n 404 \n \n \n 183 \n \n \n \n \n \n \n \n Total income \n \n \n 2,119 \n \n \n 1,687 \n \n \n 26 \n \n \n \n \n \n 1,136 \n \n \n 823 \n \n \n 38 \n \n \n \n \n Operating costs \n \n \n (822) \n \n \n (803) \n \n \n (2) \n \n \n \n \n \n (442) \n \n \n (396) \n \n \n (12) \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 \n - \n \n \n \n \n \n \n \n Litigation and conduct \n \n \n (2) \n \n \n (3) \n \n \n 33 \n \n \n \n \n \n (2) \n \n \n - \n \n \n \n \n \n \n \n Total operating expenses \n \n \n (824) \n \n \n (806) \n \n \n (2) \n \n \n \n \n \n (444) \n \n \n (396) \n \n \n (12) \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 Profit before impairment \n \n \n 1,295 \n \n \n 881 \n \n \n 47 \n \n \n \n \n \n 692 \n \n \n 427 \n \n \n 62 \n \n \n \n \n Credit impairment charges \n \n \n (713) \n \n \n (711) \n \n \n - \n \n \n \n \n \n (346) \n \n \n (312) \n \n \n (11) \n \n \n \n \n Profit before tax \n \n \n 582 \n \n \n 170 \n \n \n   \n \n \n \n \n \n 346 \n \n \n 115 \n \n \n   \n \n \n \n \n Attributable profit \n \n \n 429 \n \n \n 128 \n \n \n \n \n \n \n \n \n 253 \n \n \n 87 \n \n \n \n \n \n \n \n \n \n \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 Return on average allocated tangible equity 1 \n \n \n 24.2% \n \n \n 7.3% \n \n \n \n \n \n \n \n \n 30.2% \n \n \n 10.2% \n \n \n \n \n \n \n \n Average allocated tangible equity (£bn) \n \n \n 3.5 \n \n \n 3.5 \n \n \n \n \n \n \n \n \n 3.3 \n \n \n 3.4 \n \n \n \n \n \n \n \n Cost: income ratio \n \n \n 39% \n \n \n 48% \n \n \n \n \n \n \n \n \n 39% \n \n \n 48% \n \n \n \n \n \n \n \n Loan loss rate (bps) 2 \n \n \n 575 \n \n \n 523 \n \n \n \n \n \n \n \n \n 555 \n \n \n 456 \n \n \n \n \n \n \n \n Net interest margin \n \n \n 12.96% \n \n \n 10.68% \n \n \n \n \n \n \n \n \n 13.20% \n \n \n 10.83% \n \n \n \n \n \n \n \n \n \n \n \n \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 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n US cards 30 day arrears rate \n \n \n 2.9% \n \n \n 2.8% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n US cards 90 days arrears rate \n \n \n 1.6% \n \n \n 1.6% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n US cards customer FICO score distribution 3 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <660 \n \n \n 14% \n \n \n 12% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n >660 \n \n \n 86% \n \n \n 88% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n End net receivables (reported) ($bn) \n \n \n 29.7 \n \n \n 32.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \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 30.06.26 \n \n \n As at 31.12.25 \n \n \n As at 30.06.25 \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 £bn \n \n \n £bn \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loans and advances to customers at amortised cost \n \n \n 21.7 \n \n \n 21.1 \n \n \n 18.2 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Deposits at amortised cost \n \n \n 24.7 \n \n \n 24.2 \n \n \n 22.5 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Risk weighted assets \n \n \n 24.3 \n \n \n 27.4 \n \n \n 24.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Period end allocated tangible equity \n \n \n 3.4 \n \n \n 3.8 \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 1 \n \n \n Return on average allocated tangible equity, excluding a c.£225m Q226 gain on sale (recorded in Net fee, commission and other income), from the AA portfolio exit, was 10.5% for Q226 and 14.9% for H126, as a result of an adjusted attributable profit of £87m and £263m, respectively. \n \n \n \n \n 2 \n \n \n H125 and Q225 LLR includes held for sale portfolios to remain consistent with the treatment of impairment. \n \n \n \n \n 3 \n \n \n Reflects FICO distribution based on ending net receivables for customer credit cards. \n \n \n \n \n   \n USCB delivered a RoTE of 24.2% (H125: 7.3%) , reflecting a c.£225m Q226 gain on sale from the AA portfolio exit, continued operational progress, with increased income from business growth, higher net interest margin and positive operating jaws. Excluding the gain on sale of c.£225m (resulting in an adjusted attributable profit of £263m), the H126 RoTE was 14.9%. \n   \n Income statement - H126 compared to H125 \n \n \n \n \n ● \n \n \n Profit before tax increased to £582m (H125: £170m) \n \n \n \n \n ● \n \n \n The 4% 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 26% to £2,119m, including the adverse impact of the strengthening of average GBP against USD. NII increased 18% to £1,555m including business growth, repricing initiatives and change in portfolio mix. Net fee, commission and other income increased 53% to £564m driven by gain on sale from the AA portfolio and the Best Egg acquisition \n \n \n \n \n ● \n \n \n Total operating expenses increased 2% to £824m, driven by the acquisitions of Best Egg and the General Motors co-branded cards portfolio (GM Portfolio), business growth, and inflationary headwinds, partially offset by lower partner related expenses, the strengthening of average GBP against USD, and ongoing efficiency savings \n \n \n \n \n ● \n \n \n Credit impairment charges were £713m (H125: £711m ), reflecting broadly stable underlying credit performance and the £26m day 1 impact from the Best Egg acquisition. US cards 30 and 90 day arrears rates were 2.9% (H125: 2.8%) and 1.6% (H125: 1.6%) respectively. The USCB total coverage ratio was 11.1% (December 2025: 11.1%) \n \n \n \n \n   \n Balance sheet - 30 June 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 £21.7bn (December 2025: £21.1bn) \n \n \n \n \n ● \n \n \n Deposits at amortised cost increased to £24.7bn (December 2025: £24.2bn) , with growth in retail savings which is in line with USCB's strategy to grow core deposits \n \n \n \n \n ● \n \n \n RWAs decreased to £24.3bn (December 2025: £27.4bn) , driven by a net £3.2bn reduction relating to the AA portfolio sale and Best Egg acquisition \n \n \n \n \n   \n \n \n \n \n Head Office \n \n \n Half year ended \n \n \n   \n \n \n Three months ended \n \n \n \n \n \n \n \n 30.06.26 \n \n \n 30.06.25 \n \n \n   \n \n \n   \n \n \n 30.06.26 \n \n \n 30.06.25 \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 \n £m \n \n \n £m \n \n \n % Change \n \n \n \n \n Net interest income \n \n \n 96 \n \n \n 288 \n \n \n (67) \n \n \n \n \n \n 149 \n \n \n 114 \n \n \n 31 \n \n \n \n \n Net fee, commission and other income \n \n \n (18) \n \n \n (152) \n \n \n 88 \n \n \n \n \n \n (88) \n \n \n (43) \n \n \n \n \n \n \n \n Total income \n \n \n 78 \n \n \n 136 \n \n \n (43) \n \n \n \n \n \n 61 \n \n \n 71 \n \n \n (14) \n \n \n \n \n Operating costs \n \n \n (368) \n \n \n (382) \n \n \n 4 \n \n \n \n \n \n (163) \n \n \n (175) \n \n \n 7 \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 \n - \n \n \n \n \n \n \n \n Litigation and conduct \n \n \n (108) \n \n \n (5) \n \n \n \n \n \n \n \n \n (1) \n \n \n (2) \n \n \n 50 \n \n \n \n \n Total operating expenses \n \n \n (476) \n \n \n (387) \n \n \n (23) \n \n \n \n \n \n (164) \n \n \n (177) \n \n \n 7 \n \n \n \n \n Other net income \n \n \n 24 \n \n \n 9 \n \n \n \n \n \n \n \n \n 3 \n \n \n (9) \n \n \n \n \n \n \n \n Loss before impairment \n \n \n (374) \n \n \n (242) \n \n \n (55) \n \n \n \n \n \n (100) \n \n \n (115) \n \n \n 13 \n \n \n \n \n Credit impairment releases/(charges) \n \n \n 2 \n \n \n (5) \n \n \n \n \n \n \n \n \n - \n \n \n (1) \n \n \n \n \n \n \n \n Loss before tax \n \n \n (372) \n \n \n (247) \n \n \n (51) \n \n \n \n \n \n (100) \n \n \n (116) \n \n \n 14 \n \n \n \n \n Attributable loss \n \n \n (303) \n \n \n (238) \n \n \n (27) \n \n \n \n \n \n (97) \n \n \n (114) \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 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 Average allocated tangible equity (£bn) \n \n \n 6.3 \n \n \n 4.6 \n \n \n \n \n \n \n \n \n 5.6 \n \n \n 5.5 \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 As at 30.06.26 \n \n \n As at 31.12.25 \n \n \n As at 30.06.25 \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 £bn \n \n \n £bn \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Risk weighted assets \n \n \n 12.7 \n \n \n 12.3 \n \n \n 12.6 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Period end allocated tangible equity \n \n \n 6.5 \n \n \n 7.5 \n \n \n 5.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n   \n Income statement - H126 compared to H125 \n \n \n \n \n ● \n \n \n Loss before tax was £372m (H125: £247m) \n \n \n \n \n ● \n \n \n Total income decreased to £78m (H125: £136m), driven by the impact of the disposal of the German consumer finance business in Q125, and hedge accounting \n \n \n \n \n ● \n \n \n Total operating expenses increased to £476m (H125: £387m), reflecting the £105m increase in the provision for the FCA motor finance redress scheme in Q126 \n \n \n \n \n   \n Balance sheet - 30 June 2026 compared to 31 December 2025 \n \n \n \n \n ● \n \n \n RWAs increased to £12.7bn (December 2025: £12.3bn) driven by the net impact of the acquisition of the long-term leasehold interest in One Churchill Place \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 Q226 \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 \n \n Income statement information \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 £m \n \n \n \n \n \n £m \n \n \n £m \n \n \n \n \n Net interest income \n \n \n 3,921 \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 \n \n Net fee, commission and other income \n \n \n 4,417 \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 \n \n Total income \n \n \n 8,338 \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 \n \n Operating costs \n \n \n (4,514) \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 \n \n UK regulatory levies \n \n \n - \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 Litigation and conduct \n \n \n (4) \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 \n \n Total operating expenses \n \n \n (4,518) \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 \n \n Other net income/(expenses) \n \n \n 3 \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 \n \n Profit before impairment \n \n \n 3,823 \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 \n \n Credit impairment charges \n \n \n (571) \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 \n \n Profit before tax \n \n \n 3,252 \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 \n \n Tax charges \n \n \n (731) \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 \n \n Profit after tax \n \n \n 2,521 \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 \n \n Non-controlling interests \n \n \n (19) \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 \n \n Other equity instrument holders \n \n \n (243) \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 \n \n Attributable profit \n \n \n 2,259 \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 \n \n \n \n \n   \n \n \n   \n \n \n \n \n \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 16.1% \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 \n \n Average tangible shareholders' equity (£bn) \n \n \n 56.1 \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 \n \n Cost: income ratio \n \n \n 54% \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 \n \n Loan loss rate (bps) \n \n \n 51 \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 \n \n Basic earnings per ordinary share \n \n \n 16.7p \n \n \n 14.1 \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 \n \n Basic weighted average number of shares (m) \n \n \n 13,565 \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 \n \n Period end number of shares (m) \n \n \n 13,507 \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 \n \n Period end tangible shareholders' equity (£bn) \n \n \n 57.2 \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 \n \n   \n \n \n   \n \n \n   \n \n \n \n \n \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 £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 \n \n Loans and advances to customers at amortised cost \n \n \n 359.3 \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 \n \n Loans and advances to banks at amortised cost \n \n \n 12.0 \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 \n \n Debt securities at amortised cost \n \n \n 73.5 \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 \n \n Loans and advances at amortised cost \n \n \n 444.8 \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 \n \n Loans and advances at amortised cost impairment coverage ratio \n \n \n 1.2% \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 \n \n Total assets \n \n \n 1,730.4 \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 \n \n Deposits at amortised cost \n \n \n 594.4 \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 \n \n Tangible net asset value per share \n \n \n 423p \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 \n \n Common equity tier 1 ratio \n \n \n 14.3% \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 \n \n Common equity tier 1 capital \n \n \n 52.2 \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 \n \n Risk weighted assets \n \n \n 364.8 \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 \n \n UK leverage ratio \n \n \n 4.9% \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 \n \n UK leverage exposure \n \n \n 1,345.6 \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 \n \n   \n \n \n \n \n \n \n \n \n \n \n \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 346.7 \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 \n \n Liquidity coverage ratio 2 \n \n \n 157.7% \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 \n \n Net stable funding ratio \n \n \n 135.8% \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 \n \n Loan: deposit ratio \n \n \n 75% \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 \n \n   \n \n \n \n \n 1 \n \n \n Refer to pages 53 to 58  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   \n Quarterly Results by Business \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 Q226 \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 \n \n Income statement information \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 £m \n \n \n   \n \n \n £m \n \n \n £m \n \n \n \n \n Net interest income \n \n \n 2,000 \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 \n \n Net fee, commission and other income \n \n \n 259 \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 \n \n Total income \n \n \n 2,259 \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 \n \n Operating costs \n \n \n (1,194) \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 \n \n UK regulatory levies \n \n \n - \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 Litigation and conduct \n \n \n (1) \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 \n \n Total operating expenses \n \n \n (1,195) \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 \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 1,064 \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 \n \n Credit impairment charges \n \n \n (160) \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 \n \n Profit before tax \n \n \n 904 \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 \n \n Attributable profit \n \n \n 623 \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 \n \n   \n \n \n \n \n \n \n \n \n \n \n \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 £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 \n \n Loans and advances to customers at amortised cost \n \n \n 220.8 \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 \n \n Customer deposits at amortised cost \n \n \n 245.6 \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 \n \n Loan: deposit ratio \n \n \n 97% \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 \n \n Risk weighted assets \n \n \n 89.0 \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 \n \n Period end allocated tangible equity \n \n \n 12.4 \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 \n \n   \n \n \n \n \n \n \n \n \n \n \n \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 20.4% \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 \n \n Average allocated tangible equity (£bn) \n \n \n 12.2 \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 \n \n Cost: income ratio \n \n \n 53% \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 \n \n Loan loss rate (bps) \n \n \n 27 \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 \n \n Net interest margin \n \n \n 3.68% \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 \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 Q226 \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 \n \n Analysis of total income \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 £m \n \n \n   \n \n \n £m \n \n \n £m \n \n \n \n \n Retail Banking \n \n \n 1,711 \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 \n \n Business Banking \n \n \n 548 \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 \n \n Total income \n \n \n 2,259 \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 \n \n   \n \n \n \n \n \n \n \n \n \n \n \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 (165) \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 \n \n Business Banking \n \n \n 5 \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 \n \n Total credit impairment charges \n \n \n (160) \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 \n \n   \n \n \n \n \n \n \n \n \n \n \n \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 £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 \n \n Retail Banking \n \n \n 203.1 \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 \n \n Business Banking \n \n \n 17.7 \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 \n \n Total loans and advances to customers at amortised cost \n \n \n 220.8 \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 \n \n   \n \n \n \n \n \n \n \n \n \n \n \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 194.5 \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 \n \n Business Banking \n \n \n 51.1 \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 \n \n Total customer deposits at amortised cost \n \n \n 245.6 \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 \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 Q226 \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 \n \n Income statement information \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 £m \n \n \n \n \n \n £m \n \n \n £m \n \n \n \n \n Net interest income \n \n \n 413 \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 \n \n Net fee, commission and other income \n \n \n 145 \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 \n \n Total income \n \n \n 558 \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 \n \n Operating costs \n \n \n (249) \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 \n \n UK regulatory levies \n \n \n - \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 Litigation and conduct \n \n \n - \n \n \n - \n \n \n \n \n \n - \n \...

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