UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
 
 
FORM 6-K
 
 
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
 
October 21, 2021
 
Barclays PLC
(Name of Registrant)
 
1 Churchill Place
London E14 5HP
England
(Address of Principal Executive Office)
 
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
 
Form 20-F x Form 40-F
 
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes No x
 
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
 
This Report on Form 6-K is filed by Barclays PLC.
 
This Report comprises:
 
Information given to The London Stock Exchange and furnished pursuant to
General Instruction B to the General Instructions to Form 6-K.
 
 
EXHIBIT INDEX
 
 
 
__________________________________________________________________________________
 
 
 
SIGNATURES
 
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
 
BARCLAYS PLC
 
(Registrant)
 
 
 
Date: October 21, 2021
 
 
 
By: /s/ Garth Wright
--------------------------------
 
Garth Wright
 
Assistant Secretary
 
 
 
 
 
 
Barclays PLC
 
 
 
Q3 2021 Results Announcement
 
 
 
30 September 2021
 
 
 
Performance Highlights
 
 
The Group’s diversified business model delivered a record Group profit before tax of £6.9bn (Q320 YTD: £2.4bn), a return on tangible equity (RoTE) of 14.9% (Q320 YTD: 3.6%) and earnings per share (EPS) of 30.8p (Q320 YTD: 7.6p)
 
 
 
James E Staley, Chief Executive Officer, commented
“On top of a good first half, a strong third quarter performance means Barclays has delivered its highest Q3 YTD pre-tax profit on record in 2021, demonstrating the benefits of our diversified business model. We continue to support our customers and clients through the COVID-19 pandemic, have achieved a double-digit RoTE in every quarter year to date, and expect to deliver a full year RoTE above 10%. While the CIB performance continues to be an area of strength for the Group, we are also seeing evidence of a consumer recovery and the early signs of a more favourable rate environment. Against that backdrop, we are focused on balancing cost efficiencies with further investment into high-returning growth opportunities. Our CET1 ratio of 15.4% means we are also in a strong position to balance this growth with a key priority of returning excess capital to shareholders.”
 
 
Key financial metrics:
 
 
 
 
Income
Cost: income ratio
Profit before tax
RoTE
EPS
CET1ratio
Q321 YTD
 
£16.8bn
 
64%
 
£6.9bn
 
14.9%
 
30.8p
 
15.4%
Q321
 
£5.5bn
 
64%
 
£2.0bn
 
11.9%
 
8.5p
 
 
 
Performance highlights:
 
 
 
Strong Corporate and Investment Bank (CIB) performance: Investment Banking fees and Equities income had their best Q3 YTD on a comparable basis1 driving a CIB RoTE of 16.4% (Q320 YTD:10.5%)
Ongoing consumer recovery and well positioned for a rising rate environment: continue to experience strong UK mortgage and deposit volumes. Although yet to translate into meaningful unsecured balance growth, positive trends in UK and US consumer spending and in payments volumes have been observed following easing of lockdown restrictions
Investing for growth: reinvesting efficiency savings to drive income growth. Excluding structural cost actions and performance costs, Group total operating expenses were flat
Net credit impairment release: £0.6bn Q321 YTD release driven by an improved macroeconomic outlook and benign credit performance
Strong capital: Common equity tier 1 (CET1) ratio of 15.4%, above the target range of 13-14%
 
 
Summary outlook:
 
 
 
Returns: expect to deliver a RoTE above 10% in 2021
Impairment: the impairment run rate is expected to remain below historical levels in coming quarters
Costs: excluding structural cost actions and performance costs, FY21 costs are expected to be c.£12bn2. The Group is evaluating planned structural cost actions for Q421
Capital: the CET1 ratio is expected to remain above the target range of 13-14% at 31 December 2021
Capital returns: maintaining a progressive ordinary dividend policy and additional cash returns, including share buybacks, as appropriate
 
 
1
Period covering Q114 – Q321. Pre 2014 financials were not restated following re-segmentation in Q116.
2
Group cost outlook is based on an average rate of 1.38 (USD/GBP) in H221 and subject to foreign currency movements.
 
 
Barclays Group results
for the nine months ended
 
 
30.09.21
 
30.09.20
 
 
 
£m
 
£m
 
% Change
 
Net interest income
5,843
6,278
(7)
Net fee, commission and other income
 
10,937
10,547
4
Total income
16,780
16,825
Credit impairment releases/(charges)
622
(4,346)
 
Net operating income
17,402
12,479
39
Operating expenses
(10,578)
(9,954)
(6)
Litigation and conduct
(131)
(106)
(24)
Total operating expenses
(10,709)
(10,060)
(6)
Other net income
247
 
Profit before tax
6,940
2,419
 
Tax charge
(1,076)
(441)
 
Profit after tax
5,864
1,978
 
Non-controlling interests
(20)
(41)
51
Other equity instrument holders
(586)
(631)
7
Attributable profit
5,258
1,306
 
 
 
 
 
Performance measures
 
 
 
Return on average tangible shareholders' equity
14.9%
3.6%
 
Average tangible shareholders' equity (£bn)
47.1
48.5
 
Cost: income ratio
64%
60%
 
Loan loss rate (bps)
164
 
Basic earnings per share
30.8p
7.6p
 
Basic weighted average number of shares (m)
17,062
17,298
(1)
Period end number of shares (m)
16,851
17,353
(3)
 
 
 
 
 
As at 30.09.21
 
As at 31.12.20
 
As at 30.09.20
 
Balance sheet and capital management1
 
£bn
 
£bn
 
£bn
 
Loans and advances at amortised cost
 
353.0
342.6
344.4
Loans and advances at amortised cost impairment coverage ratio
 
1.7%
2.4%
2.5%
Deposits at amortised cost
 
510.2
481.0
494.6
Tangible net asset value per share
287p
269p
275p
Common equity tier 1 ratio
15.4%
15.1%
14.6%
Common equity tier 1 capital
47.3
46.3
45.5
Risk weighted assets
307.5
306.2
310.7
Average UK leverage ratio
4.9%
5.0%
5.1%
UK leverage ratio
5.1%
5.3%
5.2%
 
 
 
 
Funding and liquidity
 
 
 
Group liquidity pool (£bn)
293
266
327
Liquidity coverage ratio
161%
162%
181%
Loan: deposit ratio
69%
71%
70%
 
 
1
Refer to pages 27 to 33 for further information on how capital, Risk Weighted Assets (RWAs) and leverage are calculated.
Group Finance Director’s Review
 
 
Group performance1
 
 
 
The Group’s diversified business model enabled Barclays to deliver a record profit before tax of £6,940m (Q320 YTD: £2,419m), RoTE of 14.9% (Q320 YTD: 3.6%) and EPS of 30.8p (Q320 YTD: 7.6p)
Total income was stable at £16,780m (Q320 YTD: £16,825m). Barclays UK income increased 2%. Barclays International income decreased 2%, with CIB income down 1% and Consumer, Cards and Payments (CC&P) income down 6%. Excluding the impact of the 9% depreciation of average USD against GBP, total income was up, reflecting the Group’s diversified income streams
Credit impairment net release of £622m (Q320 YTD: £4,346m charge). The net release included a reversal of £1.1bn in non-default charges, primarily reflecting the improved macroeconomic outlook. Excluding this reversal, the charge was £0.5bn, reflecting reduced unsecured lending balances and low delinquency. Management judgements have been maintained in the quarter in respect of customers and clients considered to be potentially more vulnerable as government and other support schemes have started to reduce. The reduction in unsecured lending balances and growth in secured balances have contributed to a decrease in the Group’s loan coverage ratio to 1.7% (December 2020: 2.4%). Loan coverage ratios in unsecured and wholesale loan portfolios remained elevated compared to pre-COVID-19 pandemic levels
Total operating expenses increased 6% to £10,709m, due to structural cost actions of £392m primarily relating to the real estate review in Q221, higher performance costs that reflect improved returns, and continued investment and business growth, partially offset by the benefit from the depreciation of average USD against GBP and efficiency savings. This resulted in a cost: income ratio of 64% (Q320 YTD: 60%)
The effective tax rate was 15.5% (Q320 YTD: 18.2%). This reflects a £402m tax benefit recognised for the re-measurement of the Group’s UK deferred tax assets (DTAs) as a result of the UK corporation tax rate increase from 19% to 25% effective from 1 April 2023. The UK Government is reviewing the additional 8% surcharge tax that applies to banks’ profits and if the conclusion of that review is that the surcharge is reduced then the Group’s UK DTAs would be re-measured again and decreased, the exact timing of an enactment of a reduction in the surcharge is uncertain but would be expected to occur in H122
Attributable profit was £5,258m (Q320 YTD: £1,306m)
Following the completion of the £700m share buyback announced with FY20 results and the ongoing £500m share buyback announced with H121 results, the period end number of shares was 16,851m (December 2020: 17,359m)
Total assets increased to £1,407bn (December 2020: £1,350bn) primarily due to a £37bn increase in cash at central banks, a £29bn increase in financial assets at fair value due to an increase in secured lending, a £18bn increase in cash collateral and settlement balances and a £17bn increase in trading portfolio assets due to increased activity, partially offset by a £44bn decrease in derivative assets driven by an increase in major interest rate curves
Deposits at amortised cost increased £29bn to £510bn further strengthening the Group’s liquidity position and contributing to a loan: deposit ratio of 69% (December 2020: 71%)
Tangible net asset value (TNAV) per share increased to 287p (December 2020: 269p) primarily reflecting 30.8p of EPS, partially offset by negative reserve movements
 
 
Barclays UK
 
 
 
Profit before tax increased to £1,957m (Q320 YTD: £264m). RoTE was 17.9% (Q320 YTD: 2.2%) reflecting materially lower credit impairment charges
Total income increased 2% to £4,837m. Net interest income reduced 1% to £3,889m with a net interest margin (NIM) of 2.53% (Q320 YTD: 2.63%) as strong customer retention and improved margins in mortgages was more than offset by lower unsecured lending balances. Net fee, commission and other income increased 18% to £948m, returning back towards pre-COVID-19 pandemic levels
 
Personal Banking income increased 10% to £2,900m, reflecting strong growth in mortgages alongside improved margins, balance growth in deposits and the non-recurrence of COVID-19 customer support actions, partially offset by deposit margin compression from lower interest rates and lower unsecured lending balances
 
Barclaycard Consumer UK income decreased 23% to £898m as reduced borrowing and repayments by customers resulted in a lower level of interest earning lending (IEL) balances
 
Business Banking income increased 12% to £1,039m due to lending and deposit balance growth from £12.1bn of government scheme lending and the non-recurrence of COVID-19 and related customer support actions, partially offset by deposit margin compression from lower interest rates
 
 
1
The 9% depreciation of average USD against GBP adversely impacted income and profits and positively impacted total operating expenses.
 
 
Barclays UK (continued)
 
 
 
Credit impairment net release of £306m (Q320 YTD: £1,297m charge) driven by an improved macroeconomic outlook and lower unsecured lending balances due to customer repayments and lower delinquencies. As at 30 September 2021, 30 and 90 day arrears rates in UK cards were 1.0% (Q320: 1.7%) and 0.3% (Q320: 0.8%) respectively
Total operating expenses were stable at £3,187m (Q320 YTD: £3,172m) reflecting investment spend and higher operational and customer service costs primarily driven by increased volumes, offset by efficiency savings
Loans and advances to customers at amortised cost increased 2% to £208.6bn predominantly from £9.2bn of mortgage growth following a strong flow of new applications as well as strong customer retention, offset by a £2.3bn decrease in the Education, Social Housing and Local Authority (ESHLA) portfolio carrying value as interest rate yield curves have steepened, £1.7bn lower unsecured lending balances and £0.5bn lower Business Banking balances as repayment of government scheme lending takes effect
Customer deposits at amortised cost increased 7% to £256.8bn reflecting an increase of £13.6bn and £2.8bn in Personal Banking and Business Banking respectively, further strengthening the liquidity position and contributing to a loan: deposit ratio of 86% (December 2020: 89%)
RWAs decreased to £73.2bn (December 2020: £73.7bn) as growth in mortgages was more than offset by a reduction in unsecured lending and the ESHLA portfolio
 
 
Barclays International
 
 
 
Profit before tax increased 97% to £5,500m with a RoTE of 16.4% (Q320 YTD: 7.5%), reflecting a RoTE of 16.4% (Q320 YTD: 10.5%) in CIB and 16.2% (Q320 YTD: (10.6)%) in CC&P
 
The 9% depreciation of average USD against GBP adversely impacted income and profits and positively impacted total operating expenses
 
Total income decreased to £12,155m (Q320 YTD: £12,435m)
 
 
CIB income decreased 1% to £9,702m
 
 
 
Global Markets income decreased 14% to £5,368m as a strong performance in Equities, representing the best Q3 YTD on a comparable basis1, was more than offset by FICC. Equities income increased 28% to £2,466m driven by strong client activity in derivatives and increased client balances in financing. FICC income decreased 33% to £2,902m due to tighter spreads and the non-recurrence of prior year client activity levels
 
 
Investment Banking fees income, representing the best Q3 YTD on a comparable basis1, increased 37% to £2,703m driven by a strong performance in Advisory and Equity capital markets reflecting an increase in the fee pool and an increased market share2
 
 
Within Corporate, Transaction banking income increased 1% to £1,219m as deposit balance growth was partially offset by margin compression. Corporate lending income increased 2% to £412m driven by the non-recurrence of losses on the mark-to-market of lending and related hedge positions, partially offset by a current year write-off on a single name
 
CC&P income decreased 6% to £2,453m
 
 
 
International Cards and Consumer Bank income decreased 17% to £1,540m reflecting lower cards balances
 
 
Private Bank income increased 9% to £581m, reflecting client balance growth and a gain on a property sale
 
 
Unified Payments income increased 60% to £332m driven by the non-recurrence of a c.£100m valuation loss on Barclays’ preference shares in Visa Inc. in Q220 and merchant acquiring turnover growth following easing of lockdown restrictions
Credit impairment net release of £311m (Q320 YTD: £2,989m charge) was driven by an improved macroeconomic outlook
 
 
CIB credit impairment net release of £400m (Q320 YTD: £1,507m charge) was supported by limited single name wholesale loan charges
 
 
CC&P credit impairment charges of £89m (Q320 YTD: £1,482m) was partially driven by lower delinquencies and higher customer repayments. As at 30 September 2021, 30 and 90 day arrears in US cards were 1.5% (Q320: 2.3%) and 0.7% (Q320: 1.1%) respectively
 
Total operating expenses increased 5% to £7,003m
 
 
CIB total operating expenses increased 3% to £5,260m due to higher performance costs that reflect an improvement in returns
 
 
CC&P total operating expenses increased 10% to £1,743m driven by the impact of higher investment spend, including marketing, and customer remediation costs related to a legacy portfolio
 
 
 
1
Period covering Q114 – Q321. Pre 2014 financials were not restated following re-segmentation in Q116.
2
Data source: Dealogic for the period covering 1 January to 30 September 2021.
 
 
Barclays International (continued)
 
 
 
Total assets increased to £1,076bn (December 2020: £1,042bn) primarily due to a £30bn increase in financial assets at fair value, due to an increase in secured lending, a £18bn increase in cash collateral and settlements balances, and a £17bn increase in trading portfolio assets, due to increased activity, partially offset by a £45bn decrease in derivative assets driven by an increase in major interest rate curves
RWAs increased to £222.7bn (December 2020: £222.3bn)
 
 
Head Office
 
 
 
Loss before tax was £517m (Q320 YTD: £639m)
Total income was an expense of £212m (Q320 YTD: £331m), which primarily reflected hedge accounting, funding costs on legacy capital instruments and treasury items, partially offset by mark-to-market gains on legacy investments and the recognition of dividends on Barclays’ stake in Absa Group Limited
Total operating expenses were £519m (Q320 YTD: £217m), which included a charge of £266m relating to structural cost actions taken as part of the real estate review in Q221, as well as costs associated with the discontinued use of software assets
Other net income was £209m (Q320 YTD: £31m expense) driven by a fair value gain in Barclays’ associate investment holding in the Business Growth Fund
 
 
Group capital and leverage
 
 
 
The CET1 ratio increased to 15.4% (December 2020: 15.1%)
 
CET1 capital increased by £1.0bn to £47.3bn (December 2020: £46.3bn) as profit before tax of £6.9bn was partially offset by the removal of temporary regulatory supporting measures introduced in 2020, share buybacks, dividends and equity coupons paid and foreseen and pensions deficit contribution payments. The £1.1bn release of non-defaulted credit impairment was more than offset by the related reduction in IFRS 9 transitional relief which also decreased due to impairment migrations from Stage 2 to Stage 3 and the relief on the pre-2020 impairment charge reducing from 70% to 50% in 2021
 
RWAs increased £1.3bn to £307.5bn (December 2020: £306.2bn) primarily due to a growth in mortgages within Barclays UK, partially offset by lower consumer lending
The average UK leverage ratio decreased to 4.9% (December 2020: 5.0%). The average leverage exposure increased by £52.9bn to £1,199.8bn (December 2020: £1,146.9bn) largely driven by an increase in securities financing transactions (SFTs), potential future exposure (PFE) on derivatives and trading portfolio assets (TPAs)
 
 
Group funding and liquidity
 
 
 
The liquidity pool was £293bn (December 2020: £266bn) and the liquidity coverage ratio remained significantly above the 100% regulatory requirement at 161% (December 2020: 162%), equivalent to a surplus of £107bn (December 2020: £99bn). The increase in the pool is driven by deposit growth, borrowing from the Bank of England’s Term Funding Scheme with additional incentives for SMEs and a seasonal increase in short-term wholesale funding, which were partly offset by an increase in business funding consumption
Wholesale funding outstanding, excluding repurchase agreements, was £165.2bn (December 2020: £145.0bn). The Group issued £8.2bn equivalent of minimum requirement for own funds and eligible liabilities (MREL) instruments from Barclays PLC (the Parent company) during the year. The Group is well advanced in its MREL issuance plans relative to the estimated 1 January 2022 requirement
 
 
Capital distributions
 
 
 
Barclays understands the importance of delivering attractive total cash returns to shareholders. Barclays is therefore committed to maintaining an appropriate balance between total cash returns to shareholders, investment in the business and maintaining a strong capital position. Barclays pays a progressive ordinary dividend, taking into account these objectives and the earnings outlook of the Group. The Board will also continue to supplement the ordinary dividends with additional cash returns, including share buybacks, to shareholders as appropriate
Barclays paid a half year dividend of 2.0p per share on 17 September 2021 and initiated the share buyback of up to £500m announced with H121 results in August 2021, of which £279m was completed as at 30 September 2021. This was in addition to the £700m share buyback completed in April 2021
Dividends will continue to be paid semi-annually, with the half year dividend expected to represent, under normal circumstances, around one-third of the total dividend for the year
 
 
Group outlook and targets
 
 
 
Returns: expect to deliver a RoTE above 10% in 2021
Impairment: the impairment run rate is expected to remain below historical levels in coming quarters given reduced unsecured lending balances and the improved macroeconomic outlook, acknowledging the continuing uncertainty
Costs: FY21 costs, excluding structural cost actions and performance costs, are expected to be c.£12bn1. The Group will continue to drive efficiencies in its franchises and is evaluating planned structural cost actions in Q421, including in Barclays UK
Capital: the CET1 ratio is expected to remain above the target range of 13-14% at 31 December 2021, given the uncertain economic environment and known capital headwinds in 2022 of c.75bps, which includes a c.40bps impact from the reversal of software amortisation benefit from 1 January 2022
Capital returns: capital returns policy incorporates a progressive ordinary dividend, supplemented by additional cash returns, including share buybacks as appropriate. Dividends will continue to be paid semi-annually, with the half year dividend expected to represent, under normal circumstances, around one-third of the total dividend for the year
 
 
Barclays continues to target the following over the medium term:
 
 
 
Returns: RoTE of greater than 10%
Cost efficiency: cost: income ratio below 60%
Capital adequacy: CET1 ratio in the range of 13-14%
 
 
Tushar Morzaria, Group Finance Director
 
 
 
1
Group cost outlook is based on an average rate of 1.38 (USD/GBP) in H221 and subject to foreign currency movements
 
 
Results by Business
 
 
Barclays UK
Nine months ended
 
Nine months ended
 
 
 
30.09.21
 
30.09.20
 
 
Income statement information
£m
£m
% Change
 
Net interest income
3,889
3,917
(1)
Net fee, commission and other income
948
804
18
Total income
4,837
4,721
2
Credit impairment releases/(charges)
306
(1,297)
 
Net operating income
5,143
3,424
50
Operating expenses
(3,155)
(3,136)
(1)
Litigation and conduct
(32)
(36)
11
Total operating expenses
(3,187)
(3,172)
Other net income
 
1
12
(92)
Profit before tax
1,957
264
 
Attributable profit
1,336
165
 
 
 
 
 
 
As at 30.09.21
 
As at 31.12.20
 
As at 30.09.20
 
Balance sheet information
£bn
 
£bn
 
£bn
 
Loans and advances to customers at amortised cost
208.6
205.4
203.9
Total assets
312.1
289.1
294.5
Customer deposits at amortised cost
256.8
240.5
232.0
Loan: deposit ratio
86%
89%
91%
Risk weighted assets
73.2
73.7
76.2
Period end allocated tangible equity
10.0
9.7
10.0
 
 
 
 
 
Nine months ended
Nine months ended
 
Performance measures
30.09.21
 
30.09.20
 
 
Return on average allocated tangible equity
17.9%
2.2%
 
Average allocated tangible equity (£bn)
9.9
10.2
 
Cost: income ratio
66%
67%
 
Loan loss rate (bps)
81
 
Net interest margin
2.53%
2.63%
 
 
 
Analysis of Barclays UK
 
Nine months ended
 
Nine months ended
 
 
30.09.21
 
30.09.20
 
 
Analysis of total income
£m
£m
% Change
 
Personal Banking
2,900
2,627
10
Barclaycard Consumer UK
898
1,165
(23)
Business Banking
1,039
929
12
Total income
4,837
4,721
2
 
 
 
 
Analysis of credit impairment releases/(charges)
 
 
 
Personal Banking
20
(312)
 
Barclaycard Consumer UK
290
(803)
 
Business Banking
(4)
(182)
 
Total credit impairment releases/(charges)
306
(1,297)
 
 
 
 
 
 
As at 30.09.21
 
As at 31.12.20
 
As at 30.09.20
 
Analysis of loans and advances to customers at amortised cost
£bn
 
£bn
 
£bn
 
Personal Banking
164.6
157.3
155.7
Barclaycard Consumer UK
8.6
9.9
10.7
Business Banking
35.4
38.2
37.5
Total loans and advances to customers at amortised cost
208.6
205.4
203.9
 
 
 
 
Analysis of customer deposits at amortised cost
 
 
 
Personal Banking
193.3
179.7
173.2
Barclaycard Consumer UK
0.1
0.1
Business Banking
63.5
60.7
58.7
Total customer deposits at amortised cost
256.8
240.5
232.0
 
 
Barclays International
Nine months ended
 
Nine months ended
 
 
 
30.09.21
30.09.20
 
Income statement information
£m
£m
% Change
 
Net interest income
2,308
2,668
(13)
Net trading income
4,904
5,548
(12)
Net fee, commission and other income
4,943
4,219
17
Total income
12,155
12,435
(2)
Credit impairment releases/(charges)
311
(2,989)
 
Net operating income
12,466
9,446
32
Operating expenses
(6,916)
(6,632)
(4)
Litigation and conduct
(87)
(39)
 
Total operating expenses
(7,003)
(6,671)
(5)
Other net income
 
37
19
95
Profit before tax
5,500
2,794
97
Attributable profit
3,961
1,779
 
 
 
 
 
 
As at 30.09.21
As at 31.12.20
As at 30.09.20
Balance sheet information
£bn
 
£bn
 
£bn
 
Loans and advances at amortised cost
125.9
122.7
128.0
Trading portfolio assets
144.8
127.7
122.3
Derivative financial instrument assets
257.0
301.8
295.9
Financial assets at fair value through the income statement
200.5
170.7
178.2
Cash collateral and settlement balances
115.9
97.5
121.8
Other assets
231.8
221.4
261.7
Total assets
1,075.9
1,041.8
1,107.9
Deposits at amortised cost
253.3
240.5
262.4
Derivative financial instrument liabilities
252.3
300.4
293.3
Loan: deposit ratio
50%
51%
49%
Risk weighted assets
222.7
222.3
224.7
Period end allocated tangible equity
31.8
30.2
30.5
 
 
 
 
 
Nine months ended
 
Nine months ended
 
 
Performance measures
30.09.21
30.09.20
 
Return on average allocated tangible equity
16.4%
7.5%
 
Average allocated tangible equity (£bn)
32.2
31.8
 
Cost: income ratio
58%
54%
 
Loan loss rate (bps)
300
 
Net interest margin
3.96%
3.71%
 
 
 
Analysis of Barclays International
 
 
 
Corporate and Investment Bank
Nine months ended
 
Nine months ended
 
 
 
30.09.21
 
30.09.20
 
 
Income statement information
£m
£m
% Change
 
Net interest income
919
974
(6)
Net trading income
4,878
5,578
(13)
Net fee, commission and other income
3,905
3,286
19
Total income
9,702
9,838
(1)
Credit impairment releases/(charges)
400
(1,507)
 
Net operating income
10,102
8,331
21
Operating expenses
(5,256)
(5,086)
(3)
Litigation and conduct
(4)
(6)
33
Total operating expenses
(5,260)
(5,092)
(3)
Other net income
1
4
(75)
Profit before tax
4,843
3,243
49
Attributable profit
3,469
2,141
62
 
 
 
 
 
As at 30.09.21
 
As at 31.12.20
 
As at 30.09.20
 
Balance sheet information
£bn
 
£bn
 
£bn
 
Loans and advances at amortised cost
93.8
92.4
96.8
Trading portfolio assets
144.7
127.5
122.2
Derivative financial instrument assets
256.9
301.7
295.9
Financial assets at fair value through the income statement
200.4
170.4
177.9
Cash collateral and settlement balances
115.1
96.7
121.0
Other assets
200.4
194.9
228.9
Total assets
1,011.3
983.6
1,042.7
Deposits at amortised cost
185.8
175.2
195.6
Derivative financial instrument liabilities
 
252.2
300.3
293.2
Risk weighted assets
192.5
192.2
193.3
 
 
 
 
 
Nine months ended
 
Nine months ended
 
 
Performance measures
30.09.21
30.09.20
 
Return on average allocated tangible equity
16.4%
10.5%
 
Average allocated tangible equity (£bn)
28.2
27.2
 
Cost: income ratio
54%
52%
 
 
 
 
 
 
 
 
 
Analysis of total income
£m
 
£m
 
% Change
 
FICC
2,902
4,326
(33)
Equities
2,466
1,929
28
Global Markets
5,368
6,255
(14)
Advisory
634
329
93
Equity capital markets
655
369
78
Debt capital markets
1,414
1,279
11
Investment Banking fees
2,703
1,977
37
Corporate lending
412
404
2
Transaction banking
1,219
1,202
1
Corporate
1,631
1,606
2
Total income
9,702
9,838
(1)
 
 
Analysis of Barclays International
 
 
 
Consumer, Cards and Payments
Nine months ended
 
Nine months ended
 
 
 
30.09.21
 
30.09.20
 
 
Income statement information
£m
 
£m
 
% Change
 
Net interest income
1,390
1,694
(18)
Net fee, commission, trading and other income
1,063
903
18
Total income
2,453
2,597
(6)
Credit impairment charges
(89)
(1,482)
94
Net operating income
2,364
1,115
 
Operating expenses
(1,660)
(1,546)
(7)
Litigation and conduct
(83)
(33)
 
Total operating expenses
(1,743)
(1,579)
(10)
Other net income
36
15
 
Profit/(loss) before tax
657
(449)
 
Attributable profit/(loss)
492
(362)
 
 
 
 
 
 
As at 30.09.21
 
As at 31.12.20
 
As at 30.09.20
 
Balance sheet information
£bn
 
£bn
 
£bn
 
Loans and advances at amortised cost
32.1
30.3
31.2
Total assets
64.6
58.2
65.2
Deposits at amortised cost
67.5
65.3
66.8
Risk weighted assets
30.2
30.1
31.4
 
 
 
 
 
Nine months ended
 
Nine months ended
 
 
Performance measures
30.09.21
30.09.20
 
 
Return on average allocated tangible equity
16.2%
(10.6)%
 
Average allocated tangible equity (£bn)
4.0
4.6
 
Cost: income ratio
71%
61%
 
Loan loss rate (bps)
35
577
 
 
 
 
 
Analysis of total income
£m
 
£m
 
% Change
 
International Cards and Consumer Bank
1,540
1,857
(17)
Private Bank
581
533
9
Unified Payments
332
207
60
Total income
2,453
2,597
(6)
 
 
Head Office
Nine months ended
 
Nine months ended
 
 
 
30.09.21
 
30.09.20
 
 
Income statement information
£m
£m
% Change
 
Net interest income
(354)
(307)
(15)
Net fee, commission and other income
142
(24)
 
Total income
(212)
(331)
36
Credit impairment releases/(charges)
5
(60)
 
Net operating income
(207)
(391)
47
Operating expenses
(507)
(186)
 
Litigation and conduct
(12)
(31)
61
Total operating expenses
(519)
(217)
 
Other net income/(expenses)
 
209
(31)
 
Loss before tax
(517)
(639)
19
Attributable loss
(39)
(638)
94
 
 
 
 
 
As at 30.09.21
 
As at 31.12.20
 
As at 30.09.20
 
Balance sheet information
£bn
 
£bn
 
£bn
 
Total assets
18.5
18.6
19.3
Risk weighted assets
11.5
10.2
9.8
Period end allocated tangible equity
6.5
6.8
7.1
 
 
 
 
 
Nine months ended
 
Nine months ended
 
 
Performance measures
30.09.21
 
30.09.20
 
 
Average allocated tangible equity (£bn)
5.0
6.5
 
 
 
 Quarterly Results Summary
 
 
Barclays Group
 
 
 
 
 
 
 
 
 
 
 
 
Q321
 
Q221
 
Q121
 
 
Q420
 
Q320
 
Q220
 
Q120
 
 
Q419
 
Income statement information
 
£m
 
£m
 
£m
 
 
£m
 
£m
 
£m
 
£m
 
 
£m
 
Net interest income
1,940
2,052
1,851
 
1,845
2,055
1,892
2,331
 
2,344
Net fee, commission and other income
3,525
3,363
4,049
 
3,096
3,149
3,446
3,952
 
2,957
Total income
5,465
5,415
5,900
 
4,941
5,204
5,338
6,283
 
5,301
Credit impairment (charges)/releases
(120)
797
(55)
 
(492)
(608)
(1,623)
(2,115)
 
(523)
Net operating income
5,345
6,212
5,845
 
4,449
4,596
3,715
4,168
 
4,778
Operating costs
(3,446)
(3,587)
(3,545)
 
(3,480)
(3,391)
(3,310)
(3,253)
 
(3,308)
UK bank levy
 
(299)
 
(226)
Litigation and conduct
(32)
(66)
(33)
 
(47)
(76)
(20)
(10)
 
(167)
Total operating expenses
(3,478)
(3,653)
(3,578)
 
(3,826)
(3,467)
(3,330)
(3,263)
 
(3,701)
Other net income/(expenses)
94
21
132
 
23
18
(26)
8
 
20
Profit before tax
1,961
2,580
2,399
 
646
1,147
359
913
 
1,097
Tax charge
(317)
(263)
(496)
 
(163)
(328)
(42)
(71)
 
(189)
Profit after tax
1,644
2,317
1,903
 
483
819
317
842
 
908
Non-controlling interests
(1)
(15)
(4)
 
(37)
(4)
(21)
(16)
 
(42)
Other equity instrument holders
(197)
(194)
(195)
 
(226)
(204)
(206)
(221)
 
(185)
Attributable profit
1,446
2,108
1,704
 
220
611
90
605
 
681
 
 
 
 
 
 
 
 
 
 
 
Performance measures
 
 
 
 
 
 
 
 
 
 
Return on average tangible shareholders' equity
11.9%
18.1%
14.7%
 
1.8%
5.1%
0.7%
5.1%
 
5.9%
Average tangible shareholders' equity (£bn)
48.4
46.5
46.5
 
47.6
48.3
50.2
47.0
 
46.4
Cost: income ratio
64%
67%
61%
 
77%
67%
62%
52%
 
70%
Loan loss rate (bps)
13
6
 
56
69
179
223
 
60
Basic earnings per share
8.5p
12.3p
9.9p
 
1.3p
3.5p
0.5p
3.5p
 
3.9p
Basic weighted average number of shares (m)
17,062
17,140
17,293
 
17,300
17,298
17,294
17,278
 
17,200
Period end number of shares (m)
16,851
16,998
17,223
 
17,359
17,353
17,345
17,332
 
17,322
 
 
 
 
 
 
 
 
 
 
 
Balance sheet and capital management1
£bn
 
£bn
 
£bn
 
 
£bn
 
£bn
 
£bn
 
£bn
 
 
£bn
 
Loans and advances at amortised cost
353.0
348.5
345.8
 
342.6
344.4
354.9
374.1
 
339.1
Loans and advances at amortised cost impairment coverage ratio
1.7%
1.8%
2.2%
 
2.4%
2.5%
2.5%
2.1%
 
1.8%
Total assets
1,406.5
1,376.3
1,379.7
 
1,349.5
1,421.7
1,385.1
1,444.3
 
1,140.2
Deposits at amortised cost
510.2
500.9
498.8
 
481.0
494.6
466.9
470.7
 
415.8
Tangible net asset value per share
287p
281p
267p
 
269p
275p
284p
284p
 
262p
Common equity tier 1 ratio
15.4%
15.1%
14.6%
 
15.1%
14.6%
14.2%
13.1%
 
13.8%
Common equity tier 1 capital
47.3
46.2
45.9
 
46.3
45.5
45.4
42.5
 
40.8
Risk weighted assets
307.5
306.4
313.4
 
306.2
310.7
319.0
325.6
 
295.1
Average UK leverage ratio
4.9%
4.8%
4.9%
 
5.0%
5.1%
4.7%
4.5%
 
4.5%
Average UK leverage exposure
1,199.8
1,192.0
1,174.9
 
1,146.9
1,111.1
1,148.7
1,176.2
 
1,142.8
UK leverage ratio
5.1%
5.0%
5.0%
 
5.3%
5.2%
5.2%
4.5%
 
5.1%
UK leverage exposure
1,161.0
1,153.6
1,145.4
 
1,090.9
1,095.1
1,071.1
1,178.7
 
1,007.7
 
 
 
 
 
 
 
 
 
 
 
Funding and liquidity
 
 
 
 
 
 
 
 
 
 
Group liquidity pool (£bn)
293
291
290
 
266
327
298
237
 
211
Liquidity coverage ratio
161%
162%
161%
 
162%
181%
186%
155%
 
160%
Loan: deposit ratio
69%
70%
69%
 
71%
70%
76%
79%
 
82%
 
 
1
Refer to pages 27 to 33 for further information on how capital, RWAs and leverage are calculated.
 
 
vQuarterly Results by Business
 
 
 
Barclays UK
 
 
 
 
 
 
 
 
 
 
 
Q321
 
Q221
 
Q121
 
 
Q420
 
Q320
 
Q220
 
Q120
 
 
Q419
 
Income statement information
£m
 
£m
 
£m
 
 
£m
 
£m
 
£m
 
£m
 
 
£m
 
Net interest income
1,303
1,305
1,281
 
1,317
1,280
1,225
1,412
 
1,478
Net fee, commission and other income
335
318
295
 
309
270
242
292
 
481
Total income
1,638
1,623
1,576
 
1,626
1,550
1,467
1,704
 
1,959
Credit impairment (charges)/releases
(137)
520
(77)
 
(170)
(233)
(583)
(481)
 
(190)
Net operating income
1,501
2,143
1,499
 
1,456
1,317
884
1,223
 
1,769
Operating costs
(1,041)
(1,078)
(1,036)
 
(1,134)
(1,095)
(1,018)
(1,023)
 
(1,023)
UK bank levy
 
(50)
 
(41)
Litigation and conduct
(10)
(19)
(3)
 
4
(25)
(6)
(5)
 
(58)
Total operating expenses
(1,051)
(1,097)
(1,039)
 
(1,180)
(1,120)
(1,024)
(1,028)
 
(1,122)
Other net income/(expenses)
1
 
6
(1)
13
 
Profit/(loss) before tax
451
1,046
460
 
282
196
(127)
195
 
647
Attributable profit/(loss)
317
721
298
 
160
113
(123)
175
 
438
 
 
 
 
 
 
 
 
 
 
 
Balance sheet information
£bn
 
£bn
 
£bn
 
 
£bn
 
£bn
 
£bn
 
£bn
 
 
£bn
 
Loans and advances to customers at amortised cost
208.6
207.8
205.7
 
205.4
203.9
202.0
195.7
 
193.7
Total assets
312.1
311.2
309.1
 
289.1
294.5
287.6
267.5
 
257.8
Customer deposits at amortised cost
256.8
255.5
247.5
 
240.5
232.0
225.7
207.5
 
205.5
Loan: deposit ratio
86%
87%
88%
 
89%
91%
92%
96%
 
96%
Risk weighted assets
73.2
72.2
72.7
 
73.7
76.2
77.9
77.7
 
74.9
Period end allocated tangible equity
10.0
9.9
10.0
 
9.7
10.0
10.3
10.3
 
10.3
 
 
 
 
 
 
 
 
 
 
 
Performance measures
 
 
 
 
 
 
 
 
 
 
Return on average allocated tangible equity
12.7%
29.1%
12.0%
 
6.5%
4.5%
(4.8)%
6.9%
 
17.0%
Average allocated tangible equity (£bn)
10.0
9.9
9.9
 
9.8
10.1
10.3
10.1
 
10.3
Cost: income ratio
64%
68%
66%
 
73%
72%
70%
60%
 
57%
Loan loss rate (bps)
24
14
 
31
43
111
96
 
38
Net interest margin
2.49%
2.55%
2.54%
 
2.56%
2.51%
2.48%
2.91%
 
3.03%
 
 
Analysis of Barclays UK
Q321
 
Q221
 
Q121
 
 
Q420
 
Q320
 
Q220
 
Q120
 
 
Q419
 
Analysis of total income
£m
 
£m
 
£m
 
 
£m
 
£m
 
£m
 
£m
 
 
£m
 
Personal Banking
990
987
923
 
895
833
826
968
 
1,064
Barclaycard Consumer UK
293
290
315
 
354
362
367
436
 
533
Business Banking
355
346
338
 
377
355
274
300
 
362
Total income
1,638
1,623
1,576
 
1,626
1,550
1,467
1,704
 
1,959
 
 
 
 
 
 
 
 
 
 
 
Analysis of credit impairment (charges)/releases
 
 
 
 
 
 
 
 
 
 
Personal Banking
(30)
72
(22)
 
(68)
(48)
(130)
(134)
 
(71)
Barclaycard Consumer UK
(108)
434
(36)
 
(78)
(106)
(396)
(301)
 
(108)
Business Banking
1
14
(19)
 
(24)
(79)
(57)
(46)
 
(11)
Total credit impairment (charges)/releases
(137)
520
(77)
 
(170)
(233)
(583)
(481)
 
(190)
 
 
 
 
 
 
 
 
 
 
 
Analysis of loans and advances to customers at amortised cost
£bn
 
£bn
 
£bn
 
 
£bn
 
£bn
 
£bn
 
£bn
 
 
£bn
 
Personal Banking
164.6
162.4
160.4
 
157.3
155.7
154.9
153.4
 
151.9
Barclaycard Consumer UK
8.6
8.8
8.7
 
9.9
10.7
11.5
13.6
 
14.7
Business Banking
35.4
36.6
36.6
 
38.2
37.5
35.6
28.7
 
27.1
Total loans and advances to customers at amortised cost
208.6
207.8
205.7
 
205.4
203.9
202.0
195.7
 
193.7
 
 
 
 
 
 
 
 
 
 
 
Analysis of customer deposits at amortised cost
 
 
 
 
 
 
 
 
 
 
Personal Banking
193.3
191.0
186.0
 
179.7
173.2
169.6
161.4
 
159.2
Barclaycard Consumer UK
0.1
0.1
 
0.1
0.1
0.1
 
Business Banking
63.5
64.4
61.4
 
60.7
58.7
56.0
46.1
 
46.3
Total customer deposits at amortised cost
256.8
255.5
247.5
 
240.5
232.0
225.7
207.5
 
205.5
 
 
Barclays International
 
 
 
 
 
 
 
 
 
 
 
Q321
 
Q221
 
Q121
 
 
Q420
 
Q320
 
Q220
 
Q120
 
 
Q419
 
Income statement information
£m
 
£m
 
£m
 
 
£m
 
£m
 
£m
 
£m
 
 
£m
 
Net interest income
749
811
748
 
614
823
847
998
 
965
Net trading income
1,515
1,455
1,934
 
1,372
1,528
1,660
2,360
 
929
Net fee, commission and other income
1,673
1,553
1,717
 
1,500
1,430
1,503
1,286
 
1,558
Total income
3,937
3,819
4,399
 
3,486
3,781
4,010
4,644
 
3,452
Credit impairment releases/(charges)
18
271
22
 
(291)
(370)
(1,010)
(1,609)
 
(329)
Net operating income
3,955
4,090
4,421
 
3,195
3,411
3,000
3,035
 
3,123
Operating costs
(2,310)
(2,168)
(2,438)
 
(2,133)
(2,227)
(2,186)
(2,219)
 
(2,240)
UK bank levy
 
(240)
 
(174)
Litigation and conduct
(3)
(63)
(21)
 
(9)
(28)
(11)
 
(86)
Total operating expenses
(2,313)
(2,231)
(2,459)
 
(2,382)
(2,255)
(2,197)
(2,219)
 
(2,500)
Other net income
15
13
9
 
9
9
4
6
 
17
Profit before tax
1,657
1,872
1,971
 
822
1,165
807
822
 
640
Attributable profit
1,263
1,267
1,431
 
441
782
468
529
 
397
 
 
 
 
 
 
 
 
 
 
 
Balance sheet information
£bn
 
£bn
 
£bn
 
 
£bn
 
£bn
 
£bn
 
£bn
 
 
£bn
 
Loans and advances at amortised cost
125.9
121.9
123.5
 
122.7
128.0
138.1
167.0
 
132.8
Trading portfolio assets
144.8
147.1
131.1
 
127.7
122.3
109.5
101.6
 
113.3
Derivative financial instrument assets
257.0
255.4
269.4
 
301.8
295.9
306.8
341.5
 
228.9
Financial assets at fair value through the income statement
200.5
190.4
197.5
 
170.7
178.2
154.3
188.4
 
128.4
Cash collateral and settlement balances
115.9
108.5
109.7
 
97.5
121.8
130.8
153.2
 
79.4
Other assets
231.8
223.5
221.7
 
221.4
261.7
236.3
201.5
 
178.6
Total assets
1,075.9
1,046.8
1,052.9
 
1,041.8
1,107.9
1,075.8
1,153.2
 
861.4
Deposits at amortised cost
253.3
245.4
251.2
 
240.5
262.4
241.2
263.3
 
210.0
Derivative financial instrument liabilities
252.3
246.9
260.2
 
300.4
293.3
307.6
338.8
 
228.9
Loan: deposit ratio
50%
50%
49%
 
51%
49%
57%
63%
 
63%
Risk weighted assets
222.7
223.2
230.0
 
222.3
224.7
231.2
237.9
 
209.2
Period end allocated tangible equity
31.8
31.8
32.7
 
30.2
30.5
31.6
33.1
 
29.6
 
 
 
 
 
 
 
 
 
 
 
Performance measures
 
 
 
 
 
 
 
 
 
 
Return on average allocated tangible equity
15.9%
15.6%
17.7%
 
5.8%
10.2%
5.6%
6.8%
 
5.1%
Average allocated tangible equity (£bn)
31.8
32.4
32.3
 
30.5
30.6
33.5
31.2
 
30.9
Cost: income ratio
59%
58%
56%
 
68%
60%
55%
48%
 
72%
Loan loss rate (bps)
(7)
 
90
112
284
377
 
96
Net interest margin
4.02%
3.96%
3.92%
 
3.41%
3.79%
3.43%
3.93%
 
4.29%
 
 
Analysis of Barclays International
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate and Investment Bank
Q321
 
Q221
 
Q121
 
 
Q420
 
Q320
 
Q220
 
Q120
 
 
Q419
 
Income statement information
£m
 
£m
 
£m
 
 
£m
 
£m
 
£m
 
£m
 
 
£m
 
Net interest income
279
370
270
 
110
305
334
335
 
248
Net trading income
1,467
1,494
1,917
 
1,397
1,535
1,812
2,231
 
951
Net fee, commission and other income
1,383
1,115
1,407
 
1,131
1,065
1,170
1,051
 
1,115
Total income
3,129
2,979
3,594
 
2,638
2,905
3,316
3,617
 
2,314
Credit impairment releases/(charges)
128
229
43
 
(52)
(187)
(596)
(724)
 
(30)
Net operating income
3,257
3,208
3,637
 
2,586
2,718
2,720
2,893
 
2,284
Operating costs
(1,747)
(1,623)
(1,886)
 
(1,603)
(1,716)
(1,680)
(1,690)
 
(1,691)
UK bank levy
 
(226)
 
(156)
Litigation and conduct
(2)
(1)
(1)
 
2
(3)
(3)
 
(79)
Total operating expenses
(1,749)
(1,624)
(1,887)
 
(1,827)
(1,719)
(1,683)
(1,690)
 
(1,926)
Other net income
1
 
2
1
3
 
1
Profit before tax
1,508
1,584
1,751
 
761
1,000
1,040
1,203
 
359
Attributable profit
1,157
1,049
1,263
 
413
627
694
820
 
193
 
 
 
 
 
 
 
 
 
 
 
Balance sheet information
£bn
 
£bn
 
£bn
 
 
£bn
 
£bn
 
£bn
 
£bn
 
 
£bn
 
Loans and advances at amortised cost
93.8
91.0
94.3
 
92.4
96.8
104.9
128.2
 
92.0
Trading portfolio assets
144.7
147.0
130.9
 
127.5
122.2
109.3
101.5
 
113.3
Derivative financial instruments assets
256.9
255.3
269.4
 
301.7
295.9
306.7
341.4
 
228.8
Financial assets at fair value through the income statement
200.4
190.3
197.3
 
170.4
177.9
153.7
187.8
 
127.7
Cash collateral and settlement balances
115.1
107.7
108.8
 
96.7
121.0
129.7
152.2
 
78.5
Other assets
200.4
192.5
190.8
 
194.9
228.9
205.5
171.4
 
155.3
Total assets
1,011.3
983.8
991.5
 
983.6
1,042.7
1,009.8
1,082.5
 
795.6
Deposits at amortised cost
185.8
178.2
185.2
 
175.2
195.6
173.9
198.4
 
146.2
Derivative financial instrument liabilities
252.2
246.8
260.2
 
300.3
293.2
307.6
338.7
 
228.9
Risk weighted assets
192.5
194.3
201.3
 
192.2
193.3
198.3
201.7
 
171.5
 
 
 
 
 
 
 
 
 
 
 
Performance measures
 
 
 
 
 
 
 
 
 
 
Return on average allocated tangible equity
16.6%
14.8%
17.9%
 
6.3%
9.5%
9.6%
12.5%
 
3.0%
Average allocated tangible equity (£bn)
27.8
28.4
28.2
 
26.3
26.4
29.0
26.2
 
25.8
Cost: income ratio
56%
55%
53%
 
69%
59%
51%
47%
 
83%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Analysis of total income
£m
 
£m
 
£m
 
 
£m
 
£m
 
£m
 
£m
 
 
£m
 
FICC
803
895
1,204
 
812
1,000
1,468
1,858
 
726
Equities
757
777
932
 
542
691
674
564
 
409
Global Markets
1,560
1,672
2,136
 
1,354
1,691
2,142
2,422
 
1,135
Advisory
253
218
163
 
232
90
84
155
 
202
Equity capital markets
186
226
243
 
104
122
185
62
 
56
Debt capital markets
532
429
453
 
418
398
463
418
 
322
Investment Banking fees
971
873
859
 
754
610
732
635
 
580
Corporate lending
168
38
206
 
186
232
61
111
 
202
Transaction banking
430
396
393
 
344
372
381
449
 
397
Corporate
598
434
599
 
530
604
442
560
 
599
Total income
3,129
2,979
3,594
 
2,638
2,905
3,316
3,617
 
2,314
 
 
Analysis of Barclays International
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer, Cards and Payments
Q321
 
Q221
 
Q121
 
 
Q420
 
Q320
 
Q220
 
Q120
 
 
Q419
 
Income statement information
£m
 
£m
 
£m
 
 
£m
 
£m
 
£m
 
£m
 
 
£m
 
Net interest income
471
441
478
 
504
518
513
663
 
717
Net fee, commission, trading and other income
337
399
327
 
344
358
181
364
 
421
Total income
808
840
805
 
848
876
694
1,027
 
1,138
Credit impairment (charges)/releases
(110)
42
(21)
 
(239)
(183)
(414)
(885)
 
(299)
Net operating income
698
882
784
 
609
693
280
142
 
839
Operating costs
(563)
(545)
(552)
 
(530)
(511)
(506)
(529)
 
(549)
UK bank levy
 
(14)
 
(18)
Litigation and conduct
(1)
(62)
(20)
 
(11)
(25)
(8)
 
(7)
Total operating expenses
(564)
(607)
(572)
 
(555)
(536)
(514)
(529)
 
(574)
Other net income
15
13
8
 
7
8
1
6
 
16
Profit/(loss) before tax
149
288
220
 
61
165
(233)
(381)
 
281
Attributable profit/(loss)
106
218
168
 
28
155
(226)
(291)
 
204
 
 
 
 
 
 
 
 
 
 
 
Balance sheet information
£bn
 
£bn
 
£bn
 
 
£bn
 
£bn
 
£bn
 
£bn
 
 
£bn
 
Loans and advances at amortised cost
32.1
30.9
29.2
 
30.3
31.2
33.2
38.8
 
40.8
Total assets
64.6
63.0
61.4
 
58.2
65.2
66.0
70.7
 
65.8
Deposits at amortised cost
67.5
67.2
66.0
 
65.3
66.8
67.3
64.9
 
63.8
Risk weighted assets
30.2
29.0
28.8
 
30.1
31.4
32.9
36.2
 
37.7
 
 
 
 
 
 
 
 
 
 
 
Performance measures
 
 
 
 
 
 
 
 
 
 
Return on average allocated tangible equity
10.5%
21.8%
16.5%
 
2.7%
14.7%
(20.2)%
(23.5)%
 
15.9%
Average allocated tangible equity (£bn)
4.0
4.0
4.1
 
4.2
4.2
4.5
5.0
 
5.1
Cost: income ratio
70%
72%
71%
 
65%
61%
74%
52%
 
50%
Loan loss rate (bps)
127
27
 
286
211
455
846
 
273
 
 
Head Office
 
 
 
 
 
 
 
 
 
 
 
Q321
 
Q221
 
Q121
 
 
Q420
 
Q320
 
Q220
 
Q120
 
 
Q419
 
Income statement information
£m
 
£m
 
£m
 
 
£m
 
£m
 
£m
 
£m
 
 
£m
 
Net interest income
(112)
(64)
(178)
 
(86)
(48)
(180)
(79)
 
(99)
Net fee, commission and other income
2
37
103
 
(85)
(79)
41
14
 
(11)
Total income
(110)
(27)
(75)
 
(171)
(127)
(139)
(65)
 
(110)
Credit impairment (charges)/releases
(1)
6
 
(31)
(5)
(30)
(25)
 
(4)
Net operating expenses
(111)
(21)
(75)
 
(202)
(132)
(169)
(90)
 
(114)
Operating costs
(95)
(341)
(71)
 
(213)
(69)
(106)
(11)
 
(45)
UK bank levy
 
(9)
 
(11)
Litigation and conduct
(19)
16
(9)
 
(42)
(23)
(3)
(5)
 
(23)
Total operating expenses
(114)
(325)
(80)
 
(264)
(92)
(109)
(16)
 
(79)
Other net income/(expenses)
78
8
123
 
8
10
(43)
2
 
3
Loss before tax
(147)
(338)
(32)
 
(458)
(214)
(321)
(104)
 
(190)
Attributable (loss)/profit
(134)
120
(25)
 
(381)
(284)
(255)
(99)
 
(154)
 
 
 
 
 
 
 
 
 
 
 
Balance sheet information
£bn
 
£bn
 
£bn
 
 
£bn
 
£bn
 
£bn
 
£bn
 
 
£bn
 
Total assets
18.5
18.3
17.7
 
18.6
19.3
21.7
23.6
 
21.0
Risk weighted assets
11.5
11.1
10.7
 
10.2
9.8
9.9
10.0
 
11.0
Period end allocated tangible equity
6.5
5.9
3.3
 
6.8
7.1
7.4
6.0
 
5.6
 
 
 
 
 
 
 
 
 
 
 
Performance measures
 
 
 
 
 
 
 
 
 
 
Average allocated tangible equity (£bn)
6.6
4.2
4.3
 
7.3
7.6
6.4
5.6
 
5.2
 
 
Performance Management
 
 
Margins and balances
 
 
 
 
 
 
 
 
Nine months ended 30.09.21
 
Nine months ended 30.09.20
 
 
Net interest income
 
Average customer assets
 
Net interest margin
 
Net interest income
 
Average customer assets
 
Net interest margin
 
 
£m
 
£m
 
%
 
£m
 
£m
 
%
 
Barclays UK
 
3,889
 
205,889
 
2.53
 
3,917
 
199,048
 
2.63
 
Barclays International1,2
 
2,301
 
77,628
 
3.96
 
2,686
 
96,799
 
3.71
 
Total Barclays UK and Barclays International
 
6,190
 
283,517
 
2.92
 
6,603
 
295,847
 
2.98
 
Other3
 
(347)
 
 
 
(325)
 
 
 
Total Barclays Group
 
5,843
 
 
 
6,278
 
 
 
 
 
1
Barclays International margins include IEL balances within the investment banking business.
2
Barclays amended the presentation of the premium paid for purchased financial guarantees which are embedded in notes it issues directly to the market in Q420 from net investment income to interest expense within net interest income. Had the equivalent Q320 YTD interest expense been recognised in net interest income, the Barclays International and Total Barclays UK and Barclays International NIMs would have been 3.60% and 2.95% respectively.
3
Other includes Head Office and non-lending related investment banking businesses not included in Barclays International margins.
 
 
The Group’s combined product and equity structural hedge notional as at 30 September 2021 was £224bn (September 2020: £181bn), with an average duration of close to 3 years (2020: average duration 2.5 to 3 years). Group net interest income includes gross structural hedge contributions of £1,042m (Q320 YTD: £1,273m) and net structural hedge contributions of £889m (Q320 YTD: £917m). Gross structural hedge contributions represent the absolute level of interest earned from the fixed receipts on the basket of swaps in the structural hedge, while the net structural hedge contributions represent the net interest earned on the difference between the structural hedge rate and prevailing floating rates.
 
 
 
Quarterly analysis for Barclays UK and Barclays International
 
Net interest income
 
Average customer assets
 
Net interest margin
 
Three months ended 30.09.21
 
£m
 
£m
 
%
 
Barclays UK
 
1,303
 
207,692
 
2.49
 
Barclays International1
 
783
 
77,364
 
4.02
 
Total Barclays UK and Barclays International
 
2,086
 
285,056
 
2.90
 
 
 
 
 
Three months ended 30.06.21
 
 
 
 
Barclays UK
 
1,305
 
205,168
 
2.55
 
Barclays International1
 
763
 
77,330
 
3.96
 
Total Barclays UK and Barclays International
 
2,068
 
282,498
 
2.94
 
 
 
 
 
Three months ended 31.03.21
 
 
 
 
Barclays UK
 
1,281
 
204,663
 
2.54
 
Barclays International1
 
755
 
78,230
 
3.92
 
Total Barclays UK and Barclays International
 
2,036
 
282,893
 
2.92
 
 
 
 
 
Three months ended 31.12.20
 
 
 
 
Barclays UK
 
1,317
 
204,315
 
2.56
 
Barclays International1,2