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
June 2006
Barclays PLC and
Barclays Bank PLC
(Names of Registrants)
1 Churchill Place
London E14 5HP
England
(Address of Principal Executive Offices)
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 is a joint Report on Form 6-K filed by Barclays PLC and Barclays
Bank PLC. All of the issued ordinary share capital of Barclays Bank PLC is
owned 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
Reporting Changes in 2006 - 16 June 2006
--------------------------------------------------------------------------------
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, each of
the registrants has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BARCLAYS PLC
(Registrant)
Date: June 16, 2006 By: /s/ Patrick Gonsalves
----------------------
Patrick Gonsalves
Deputy Secretary
BARCLAYS BANK PLC
(Registrant)
Date: June 16, 2006 By: /s/ Patrick Gonsalves
----------------------
Patrick Gonsalves
Joint Secretary
16th June 2006
BARCLAYS PLC
GROUP REPORTING CHANGES IN 2006
Barclays PLC today announces the impact of certain changes in Group structure
and reporting on 2005 and 2004 results, as advised in the conference call for
the Trading Update on 25th May 2006. Barclays has realigned a number of
reportable business segments based on the reorganisation of certain portfolios
to better reflect the type of client served, the nature of the products offered
and the associated risks and rewards. The Group's policy for the internal cost
of funding and the segmental disclosure of risk weighted assets was also revised
with effect from 1st January 2006. The restatements have no impact on the Group
Income Statement or Balance Sheet. The 2005 and 2004 results for all the
businesses are restated on pages 4 to 37 to show the effects of all of these
changes.
Group structure changes - effective 1st January 2006
UK Retail Banking comprises Personal Customers, Local Business (formerly Small
Business), UK Premier and Home Finance (formerly Mortgages). A number of smaller
business clients previously within UK Business Banking are now managed and
reported within UK Retail Banking.
UK Business Banking comprises Larger Business and Medium Business including
Asset and Sales Finance. A number of financial institution, large corporate and
property clients previously within UK Business Banking are now managed by and
reported in Barclays Capital. A number of smaller business clients previously
within UK Business Banking are now managed and reported within UK Retail
Banking. Certain portfolios have been reclassified as businesses in transition
and are now managed and reported in Head office functions and other operations.
Barclays Capital has added a number of financial institutions, large corporates
and property companies previously managed within UK Business Banking and
International Retail and Commercial Banking - Absa.
International Retail and Commercial Banking - Absa. The majority of Absa
Corporate and Merchant Banking has been relaunched as Absa Capital and is being
managed and reported in Barclays Capital.
Head office functions and other operations. Certain lending portfolios
previously managed within UK Business Banking have been reclassified as
businesses in transition. These businesses are now centrally managed with the
objective of maximising the recovery from these assets.
The structure remains unchanged for: Barclays Global Investors; Wealth
Management; Wealth Management - closed life assurance activities; Barclaycard
and; International Retail and Commercial Banking excluding Absa.
Changes to internal cost of funding - effective 1st January 2006
All transactions between the businesses are conducted on an arm's length basis.
Internal charges and transfer pricing adjustments are reflected in the
performance of each business. Head office functions and other operations
contains a centralised Treasury function which manages the Group's capital base,
generating a net interest income. Previously the net interest income was
allocated to the businesses based on the level of economic capital held by each
business as a proportion of that held by the Group, which ensured a nil net
interest income result in Treasury. The allocation is now determined by applying
Treasury's effective rate of return on capital to the average economic capital
held by each business. In 2005 this had the effect of retaining a greater
proportion of Treasury income within Head office functions and other operations,
reflecting the capital and goodwill balances held centrally. This approach has
been applied to all businesses. There is no change to the Group's net interest
income as previously reported.
Changes to risk weighted assets by business - effective 1st January 2006
Under the Group's securitisation programme, certain portfolios of loans and
advances to customers and other assets subject to securitisation or similar risk
transfer are adjusted in calculating the Group's risk weighted assets. With
effect from 1st January 2006 the costs associated with each securitisation,
which were previously held centrally, will be allocated to the relevant
businesses. The regulatory capital adjustments arising from the securitisation
programme will be attributed to the business which bears the costs. This
approach has been applied to all businesses. There is no change to the Group's
total risk weighted assets as previously reported.
For further information please contact:
Investor Relations Media Relations
-------------------- -----------------
Mark Merson/James S Johnson Stephen Whitehead/Jason Nisse
+44 (0) 20 7116 5752/2927 +44 (0) 20 7116 6060/6223
The information in this announcement does not comprise statutory accounts within
the meaning of Section 240 of the Companies Act 1985 (the 'Act'). Statutory
accounts for the year ended 31 December 2005, which also include certain
information required for the joint Annual Report on Form 20-F of Barclays PLC
and Barclays Bank PLC to the US Securities and Exchange Commission, have been
delivered to the Registrar of Companies in accordance with Section 242 of the
Act.
International Financial Reporting Standards
The Group has applied International Financial Reporting Standards (IFRS) from
1st January 2004, with the exception of the standards relating to financial
instruments and insurance contracts which are applied only with effect from 1st
January 2005. Therefore the impacts of adopting IAS 32, IAS 39 and IFRS 4 are
not included in the 2004 comparatives in accordance with IFRS 1 and financial
instruments and insurance contracts are accounted for under UK GAAP in 2004.
The results for 2005 are therefore not entirely comparable to those for 2004 in
affected areas. For a fuller disclosure of the transitional impacts of IFRS,
please refer to the 2005 Annual Report, which contains re-measurement and
reclassification reconciliations in the Notes to the Accounts. A summary of the
Group's significant accounting policies can also be found in the 2005 Annual
Report. The financial information in this announcement has been prepared in
accordance with these accounting policies. Dashes have been used to indicate
where changes in policy cause an item to be not applicable and where there is no
amount to report.
Business analysis of profit before tax net of restatements
Changes
to internal Group
2005 as cost of structure 2005 2004
published funding changes restated restated
GBPm GBPm GBPm GBPm GBPm
UK Banking 2,455 (82) (173) 2,200 2,086
-------- -------- -------- -------- --------
UK Retail Banking 1,027 (35) 48 1,040 1,002
UK Business Banking 1,428 (47) (221) 1,160 1,084
-------- -------- -------- -------- --------
Barclays Capital 1,272 (33) 192 1,431 1,142
Barclays Global
Investors 542 (2) - 540 336
Wealth Management 172 (6) - 166 108
Wealth Management -
closed life assurance
activities (6) (1) - (7) (53)
Barclaycard 687 (47) - 640 830
International Retail and
Commercial Banking 690 (18) (39) 633 288
-------- -------- -------- -------- --------
International Retail and
Commercial Banking - ex
Absa 355 (20) - 335 288
International Retail and
Commercial Banking -
Absa1,2 335 2 (39) 298 -
-------- -------- -------- -------- --------
Head office functions
and other operations (532) 189 20 (323) (157)
-------- -------- -------- -------- --------
Profit before tax 5,280 - - 5,280 4,580
-------- -------- -------- -------- --------
Post-tax return on
average shareholders'
equity 21.1% 21.1% 21.7%
Cost:income ratio3 61% 61% 61%
Cost:net income ratio4 67% 67% 66%
1 Period from 27th July until 31st December 2005.
2 In 2005, International Retail and Commercial Banking - Absa bore an internal
charge equivalent to Barclays cost of funding the acquisition of the business.
The net impact of this policy in 2005 was similar to that reflected in this
document, resulting in a modest change in internal cost of funding relative to
that experienced by other businesses.
3 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
4 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
UK Banking
Changes
to
internal Group
2005 as cost of structure 2005 2004
published funding changes restated restated
GBPm GBPm GBPm GBPm GBPm
Net interest income 3,990 (82) (164) 3,744 3,348
Net fee and
commission income 1,776 - (56) 1,720 1,855
-------- -------- -------- -------- --------
Net trading income - - - - -
Net investment income 31 - (5) 26 -
-------- -------- -------- -------- --------
Principal
transactions 31 - (5) 26 -
Net premiums from
insurance contracts 280 - - 280 249
Other income 26 - 7 33 43
-------- -------- -------- -------- --------
Total income 6,103 (82) (218) 5,803 5,495
Net claims and
benefits on insurance
contracts (58) - - (58) (46)
-------- -------- -------- -------- --------
Total income net of
insurance claims 6,045 (82) (218) 5,745 5,449
Impairment charge and
other credit
provisions (344) - 17 (327) (188)
-------- -------- -------- -------- --------
Net income 5,701 (82) (201) 5,418 5,261
-------- -------- -------- -------- --------
Operating expenses
excluding
amortisation of
intangible assets (3,240) - 28 (3,212) (3,220)
Amortisation of
intangible assets (3) - - (3) (2)
-------- -------- -------- -------- --------
Operating expenses (3,243) - 28 (3,215) (3,222)
Share of post-tax
results of associates
and joint ventures (3) - - (3) 5
Profit on disposal of
associates and joint
ventures - - - - 42
-------- -------- -------- -------- --------
Profit before tax 2,455 (82) (173) 2,200 2,086
-------- -------- -------- -------- --------
Cost:income ratio1 54% 56% 59%
Cost:net income
ratio2 57% 59% 61%
Return on average
economic capital 33% 33% 35%
Loans and advances to
customers GBP129.1bn GBP118.2bn GBP106.7bn
Customer accounts GBP133.6bn GBP129.7bn GBP111.1bn
Staff numbers 39,900 39,800 41,700
Total assets GBP141.2bn GBP130.3bn GBP114.9bn
Risk weighted assets GBP94.2bn GBP79.9bn GBP80.5bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
UK Retail Banking
Changes to
internal Group
2005 as cost of structure 2005 2004
published funding changes restated restated
GBPm GBPm GBPm GBPm GBPm
Net interest income 2,174 (35) 69 2,208 2,107
Net fee and commission
income 1,112 - 19 1,131 1,149
-------- -------- -------- -------- --------
Net trading income - - - - -
Net investment income 9 - - 9 -
-------- -------- -------- -------- --------
Principal transactions 9 - - 9 -
Net premiums from
insurance contracts 280 - - 280 249
Other income 17 - (1) 16 29
-------- -------- -------- -------- --------
Total income 3,592 (35) 87 3,644 3,534
Net claims and benefits
on insurance contracts (58) - - (58) (46)
-------- -------- -------- -------- --------
Total income net of
insurance claims 3,534 (35) 87 3,586 3,488
Impairment charge and
other credit provisions (142) - (8) (150) (69)
-------- -------- -------- -------- --------
Net income 3,392 (35) 79 3,436 3,419
Operating expenses (2,359) - (31) (2,390) (2,461)
Share of post-tax
results of associates
and joint ventures (6) - - (6) 2
Profit on disposal of
associates and joint
ventures - - - - 42
-------- -------- -------- -------- --------
Profit before tax 1,027 (35) 48 1,040 1,002
-------- -------- -------- -------- --------
Cost:income ratio1 67% 67% 71%
Cost:net income ratio2 70% 70% 72%
Return on average
economic capital 34% 35% 32%
Loans and advances to
customers GBP63.6bn GBP64.8bn GBP66.7bn
Customer accounts GBP77.6bn GBP78.8bn GBP73.6bn
Staff numbers 31,900 32,000 34,500
Total assets GBP69.2bn GBP70.4bn GBP72.7bn
Risk weighted assets GBP32.3bn GBP32.8bn GBP38.2bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
UK Business Banking
Changes to
internal Group
2005 as cost of structure 2005 2004
published funding changes restated restated
GBPm GBPm GBPm GBPm GBPm
Net interest
income 1,816 (47) (233) 1,536 1,241
Net fee and
commission
income 664 - (75) 589 706
-------- -------- -------- -------- --------
Net trading
income - - - - -
Net
investment
income 22 - (5) 17 -
-------- -------- -------- -------- --------
Principal
transactions 22 - (5) 17 -
Other income 9 - 8 17 14
-------- -------- -------- -------- --------
Total income 2,511 (47) (305) 2,159 1,961
Impairment
charge and
other credit
provisions (202) - 25 (177) (119)
-------- -------- -------- -------- --------
Net income 2,309 (47) (280) 1,982 1,842
-------- -------- -------- -------- --------
Operating
expenses
excluding
amortisation
of intangible
assets (881) - 59 (822) (759)
Amortisation
of intangible
assets (3) - - (3) (2)
-------- -------- -------- -------- --------
Operating
expenses (884) - 59 (825) (761)
Share of
post-tax
results of
associates
and joint
ventures 3 - - 3 3
-------- -------- -------- -------- --------
Profit
before tax 1,428 (47) (221) 1,160 1,084
-------- -------- -------- -------- --------
Cost:income
ratio1 35% 38% 39%
Cost:net
income
ratio2 38% 42% 41%
Return on
average
economic
capital 32% 31% 37%
Loans and
advances to
customers GBP65.5bn GBP53.4bn GBP40.0bn
Customer
accounts GBP56.0bn GBP50.9bn GBP37.5bn
Staff
numbers 8,000 7,800 7,200
Total assets GBP72.0bn GBP59.9bn GBP42.2bn
Risk weighted
assets GBP61.9bn GBP47.1bn GBP42.3bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
Barclays Capital
Changes to
internal Group
2005 as cost of structure 2005 2004
published funding changes restated restated
GBPm GBPm GBPm GBPm GBPm
Net interest
income 926 (33) 172 1,065 1,068
Net fee and
commission
income 724 - 52 776 670
-------- -------- -------- -------- --------
Net trading
income 2,194 - 37 2,231 1,463
Net
investment
income 401 - 12 413 302
-------- -------- -------- -------- --------
Principal
transactions 2,595 - 49 2,644 1,765
Other income 25 - (5) 20 15
-------- -------- -------- -------- --------
Total income 4,270 (33) 268 4,505 3,518
Impairment
charge and
other credit
provisions (103) - (8) (111) (106)
-------- -------- -------- -------- --------
Net income 4,167 (33) 260 4,394 3,412
-------- -------- -------- -------- --------
Operating
expenses
excluding
amortisation
of intangible
assets (2,894) - (67) (2,961) (2,270)
Amortisation
of intangible
assets (1) - (1) (2) -
-------- -------- -------- -------- --------
Operating
expenses (2,895) - (68) (2,963) (2,270)
-------- -------- -------- -------- --------
Profit
before tax 1,272 (33) 192 1,431 1,142
-------- -------- -------- -------- --------
Cost:income
ratio1 68% 66% 65%
Cost:net
income
ratio2 69% 67% 67%
Return on
average
economic
capital 34% 34% 34%
Average net
income per
member of
staff ('000) GBP496 GBP498 GBP490
Staff numbers 9,000 9,900 7,900
Total
assets GBP581.9bn GBP601.2bn GBP353.2bn
Risk
weighted
assets GBP96.1bn GBP116.7bn GBP90.1bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
Barclays Global Investors
Changes to
internal Group
2005 as cost of structure 2005 2004
published funding changes restated restated
GBPm GBPm GBPm GBPm GBPm
Net interest
income 17 (2) - 15 5
Net fee and
commission
income 1,297 - - 1,297 882
-------- -------- -------- -------- --------
Net trading
income 2 - - 2 3
Net
investment
income 4 - - 4 3
-------- -------- -------- -------- --------
Principal
transactions 6 - - 6 6
Other income - - - - -
-------- -------- -------- -------- --------
Total income 1,320 (2) - 1,318 893
-------- -------- -------- -------- --------
Operating
expenses
excluding
amortisation
of intangible
assets (775) - - (775) (555)
Amortisation
of intangible
assets (4) - - (4) (1)
-------- -------- -------- -------- --------
Operating
expenses (779) - - (779) (556)
Share of
post-tax
results of
associates
and joint
ventures 1 - - 1 (2)
Profit on
disposal of
associates
and joint
ventures - - - - 1
-------- -------- -------- -------- --------
Profit
before tax 542 (2) - 540 336
-------- -------- -------- -------- --------
Cost:income
ratio1 59% 59% 62%
Return on
average
economic
capital 248% 248% 166%
Average
income per
member of
staff ('000) 629 GBP628 GBP464
Staff
numbers 2,300 2,300 1,900
Total
assets GBP80.9bn GBP80.9bn GBP1.0bn
Risk
weighted
assets GBP1.7bn GBP1.5bn GBP1.2bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
Wealth Management
Changes to
internal Group
2005 as cost of structure 2005 2004
published funding changes restated restated
GBPm GBPm GBPm GBPm GBPm
Net interest
income 335 (6) - 329 301
Net fee and
commission
income 589 - - 589 529
-------- -------- -------- -------- --------
Net trading
income - - - - -
Net
investment
income 5 - - 5 -
-------- -------- -------- -------- --------
Principal
transactions 5 - - 5 -
Other income (1) - - (1) 7
-------- -------- -------- -------- --------
Total income 928 (6) - 922 837
Impairment
charge and
other credit
provisions (2) - - (2) 1
-------- -------- -------- -------- --------
Net income 926 (6) - 920 838
-------- -------- -------- -------- --------
Operating
expenses
excluding
amortisation
of intangible
assets (752) - - (752) (729)
Amortisation
of intangible
assets (2) - - (2) (1)
-------- -------- -------- -------- --------
Operating
expenses (754) - - (754) (730)
-------- -------- -------- -------- --------
Profit
before tax 172 (6) - 166 108
-------- -------- -------- -------- --------
Cost:income
ratio1 81% 82% 87%
Cost:net
income
ratio2 81% 82% 87%
Return on
average
economic
capital 38% 38% 31%
Loans and
advances to
customers GBP4.7bn GBP4.7bn GBP4.1bn
Customer
accounts GBP23.1bn GBP23.1bn GBP21.3bn
Staff
numbers 7,200 7,200 7,200
Total
assets GBP6.1bn GBP6.1bn GBP5.6bn
Risk
weighted
assets GBP4.5bn GBP4.1bn GBP4.0bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
Wealth Management - closed life assurance activities
Changes to
internal Group
2005 as cost of structure 2005 2004
published funding changes restated restated
GBPm GBPm GBPm GBPm GBPm
Net interest
expense (13) (1) - (14) (54)
Net fee and
commission
income 44 - - 44 -
-------- -------- -------- -------- --------
Net trading
income - - - - -
Net
investment
income 259 - - 259 596
-------- -------- -------- -------- --------
Principal
transactions 259 - - 259 596
Net premiums
from insurance
contracts 195 - - 195 362
Other income 11 - - 11 4
-------- -------- -------- -------- --------
Total income 496 (1) - 495 908
Net claims
and benefits
on insurance
contracts (375) - - (375) (818)
-------- -------- -------- -------- --------
Total income
net of
insurance
claims 121 (1) - 120 90
Operating
expenses (127) - - (127) (143)
-------- -------- -------- -------- --------
Loss before
tax (6) (1) - (7) (53)
-------- -------- -------- -------- --------
Return on
average
economic
capital (3)% (3)% (53)%
Total assets
GBP7.3bn GBP7.3bn GBP6.4bn
Barclaycard
Changes to
internal Group
2005 as cost of structure 2005 2004
published funding changes restated restated
GBPm GBPm GBPm GBPm GBPm
Net interest
income 1,773 (47) - 1,726 1,587
Net fee and
commission
income 972 - - 972 790
Net premiums
from
insurance
contracts 24 - - 24 22
-------- -------- -------- -------- --------
Total income 2,769 (47) - 2,722 2,399
Net claims
and benefits
on insurance
contracts (7) - - (7) (5)
-------- -------- -------- -------- --------
Total income
net of
insurance
claims 2,762 (47) - 2,715 2,394
Impairment
charge and
other credit
provisions (1,098) - - (1,098) (761)
-------- -------- -------- -------- --------
Net income 1,664 (47) - 1,617 1,633
-------- -------- -------- -------- --------
Operating
expenses
excluding
amortisation
of intangible
assets (961) - - (961) (804)
Amortisation
of intangible
assets (17) - - (17) (3)
-------- -------- -------- -------- --------
Operating
expenses (978) - - (978) (807)
Share of
post-tax
results of
associates
and joint
ventures 1 - - 1 4
-------- -------- -------- -------- --------
Profit
before tax 687 (47) - 640 830
-------- -------- -------- -------- --------
Cost:income
ratio1 35% 36% 34%
Cost:net
income
ratio2 59% 60% 49%
Return on
average
economic
capital 16% 16% 24%
Loans and
advances to
customers GBP24.0bn GBP24.0bn GBP22.3bn
Staff
numbers 7,800 7,800 6,700
Total
assets GBP25.8bn GBP25.8bn GBP23.4bn
Risk
weighted
assets GBP20.4bn GBP21.8bn GBP20.2bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
International Retail and Commercial Banking
Changes to
internal Group
2005 as cost of structure 2005 2004
published funding changes restated restated
GBPm GBPm GBPm GBPm GBPm
Net interest
income 1,096 (18) (28) 1,050 529
Net fee and
commission
income 711 - (6) 705 288
-------- -------- -------- -------- --------
Net trading
income 40 - (37) 3 -
Net
investment 150 - (7) 143 135
income
-------- -------- -------- -------- --------
Principal
transactions 190 - (44) 146 135
Net premiums
from
insurance 227 - - 227 300
contracts
Other income 62 - (2) 60 25
-------- -------- -------- -------- --------
Total income 2,286 (18) (80) 2,188 1,277
Net claims
and benefits
on insurance
contracts (205) - - (205) (390)
-------- -------- -------- -------- --------
Total income
net of
insurance
claims 2,081 (18) (80) 1,983 887
Impairment
charge and
other credit
provisions (33) - 1 (32) (31)
-------- -------- -------- -------- --------
Net income 2,048 (18) (79) 1,951 856
-------- -------- -------- -------- --------
Operating
expenses
excluding
amortisation
of intangible
assets (1,356) - 39 (1,317) (616)
Amortisation
of intangible
assets (48) - 1 (47) (1)
-------- -------- -------- -------- --------
Operating
expenses (1,404) - 40 (1,364) (617)
Share of
post-tax
results of
associates
and joint
ventures 46 - - 46 49
-------- -------- -------- -------- --------
Profit
before tax 690 (18) (39) 633 288
-------- -------- -------- -------- --------
Cost:income
ratio1 67% 69% 70%
Cost:net
income
ratio2 69% 70% 72%
Return on
average
economic
capital 23% 23% 21%
Loans and
advances to
customers GBP54.3bn GBP49.3bn GBP20.7bn
Customer
accounts GBP33.4bn GBP22.6bn GBP10.1bn
Staff
numbers 46,200 45,400 12,100
Total
assets GBP73.6bn GBP63.6bn GBP28.5bn
Risk
weighted
assets GBP50.1bn GBP41.2bn GBP19.3bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
International Retail and Commercial Banking - excluding Absa
Changes to
internal Group
2005 as cost of structure 2005 2004
published funding changes restated restated
GBPm GBPm GBPm GBPm GBPm
Net interest
income 582 (20) - 562 529
Net fee and
commission
income 377 - - 377 288
-------- -------- -------- -------- --------
Net trading
income 31 - - 31 -
Net
investment
income 88 - - 88 135
-------- -------- -------- -------- --------
Principal
transactions 119 - - 119 135
Net premiums
from insurance
contracts 129 - - 129 300
Other income 23 - - 23 25
-------- -------- -------- -------- --------
Total income 1,230 (20) - 1,210 1,277
Net claims
and benefits
on insurance
contracts (161) - - (161) (390)
-------- -------- -------- -------- --------
Total income
net of
insurance
claims 1,069 (20) - 1,049 887
Impairment
charge and
other credit
provisions (13) - - (13) (31)
-------- -------- -------- -------- --------
Net income 1,056 (20) - 1,036 856
-------- -------- -------- -------- --------
Operating
expenses
excluding
amortisation
of intangible
assets (734) - - (734) (616)
Amortisation
of intangible
assets (6) - - (6) (1)
-------- -------- -------- -------- --------
Operating
expenses (740) - - (740) (617)
Share of
post-tax
results of
associates
and joint
ventures 39 - - 39 49
-------- -------- -------- -------- --------
Profit
before tax 355 (20) - 335 288
-------- -------- -------- -------- --------
Cost:income
ratio1 69% 71% 70%
Cost:net
income
ratio2 70% 71% 72%
Return on
average
economic
capital 20% 20% 21%
Loans and
advances to
customers GBP25.4bn GBP25.4bn GBP20.7bn
Customer
accounts GBP10.4bn GBP10.4bn GBP10.1bn
Staff
numbers 12,700 12,700 12,100
Total
assets GBP34.2bn GBP34.2bn GBP28.5bn
Risk
weighted
assets GBP21.6bn GBP20.4bn GBP19.3bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
International Retail and Commercial Banking - Absa1
Changes to
internal Group
2005 as cost of structure 2005
published funding2 changes restated
GBPm GBPm GBPm GBPm
Net interest income 514 2 (28) 488
Net fee and commission
income 334 - (6) 328
-------- -------- -------- --------
Net trading income 9 - (37) (28)
Net investment income 62 - (7) 55
-------- -------- -------- --------
Principal transactions 71 - (44) 27
Net premiums from
insurance contracts 98 - - 98
Other income 39 - (2) 37
-------- -------- -------- --------
Total income 1,056 2 (80) 978
Net claims and benefits
on insurance contracts (44) - - (44)
-------- -------- -------- --------
Total income net of
insurance claims 1,012 2 (80) 934
Impairment charge and
other credit provisions (20) - 1 (19)
-------- -------- -------- --------
Net income 992 2 (79) 915
-------- -------- -------- --------
Operating expenses
excluding amortisation
of intangible assets (622) - 39 (583)
Amortisation of
intangible assets (42) - 1 (41)
-------- -------- -------- --------
Operating expenses (664) - 40 (624)
-------- -------- -------- --------
Share of post-tax
results of associates
and joint ventures 7 - - 7
-------- -------- -------- --------
Profit before tax 335 2 (39) 298
-------- -------- -------- --------
Cost:income ratio3 66% 67%
Cost:net income ratio4 67% 68%
Return on average
economic capital 33% 36%
Loans and advances to
customers GBP28.9bn GBP23.9bn
Customer accounts GBP23.0bn GBP12.2bn
Staff numbers 33,500 32,700
Total assets GBP39.4bn GBP29.4bn
Risk weighted assets GBP28.4bn GBP20.8bn
1 Period from 27th July until 31st December 2005.
2 In 2005, International Retail and Commercial Banking - Absa bore an internal
charge equivalent to Barclays cost of funding the acquisition of the business.
The net impact of this policy in 2005 was similar to that reflected in this
document, resulting in a modest change in internal cost of funding relative to
that experienced by other businesses.
3 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
4 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
Head office functions and other operations
Changes to
internal Group
2005 as cost of structure 2005 2004
published funding changes restated restated
GBPm GBPm GBPm GBPm GBPm
Net interest
(expense)/
income (49) 189 20 160 49
Net fee and
commission
expense (408) - 10 (398) (167)
-------- -------- -------- -------- --------
Net trading
income 85 - - 85 21
Net investment
income 8 - - 8 (9)
-------- -------- -------- -------- --------
Principal
transactions 93 - - 93 12
Net premiums
from insurance
contracts 146 - - 146 109
Other income 24 - - 24 37
-------- -------- -------- -------- --------
Total income (194) 189 30 25 40
Impairment
release/
(charge) and
other credit
provisions 9 - (10) (1) (8)
-------- -------- -------- -------- --------
Net loss/
(income) (185) 189 20 24 32
-------- -------- -------- -------- --------
Operating
expenses
excluding
amortisation
of intangible
assets (343) - - (343) (177)
Amortisation
of intangible
assets (4) - - (4) (14)
-------- -------- -------- -------- --------
Operating
expenses (347) - - (347) (191)
-------- -------- -------- -------- --------
Profit on
disposal of
associates
and joint
ventures 2
-------- -------- -------- -------- --------
Loss before
tax (532) 189 20 (323) (157)
-------- -------- -------- -------- --------
Staff
numbers 900 900 900
Total
assets GBP7.7bn GBP9.3bn GBP5.1bn
Risk
weighted
assets GBP2.2bn GBP4.0bn GBP3.3bn
Risk weighted assets
Group
2005 as Impact of structure 2005 2004
Published securitisation changes restated restated
GBPm GBPm GBPm GBPm GBPm
UK Banking 94,195 2,467 (16,733) 79,929 80,467
--------- --------- --------- --------- ---------
UK Retail
Banking 32,298 (684) 1,189 32,803 38,230
UK Business
Banking 61,897 3,151 (17,922) 47,126 42,237
--------- --------- --------- --------- ---------
Barclays
Capital 96,095 (306) 20,888 116,677 90,078
Barclays
Global
Investors 1,659 (203) - 1,456 1,230
Wealth
Management 4,467 (406) - 4,061 4,018
Wealth - - - - -
Management -
closed life
assurance
activities
Barclaycard 20,438 1,314 - 21,752 20,188
--------- --------- --------- --------- ---------
International
Retail and
Commercial
Banking 50,071 (2,866) (5,977) 41,228 19,319
--------- --------- --------- --------- ---------
International
Retail and
Commercial
Banking -
ex Absa 21,637 (1,243) - 20,394 19,319
--------- --------- --------- --------- ---------
International
Retail and
Commercial
Banking - 28,434 (1,623) (5,977) 20,834 -
Absa
--------- --------- --------- --------- ---------
Head office
functions and
other
operations 2,223 - 1,822 4,045 3,301
--------- --------- --------- --------- ---------
Risk weighted
assets 269,148 - - 269,148 218,601
--------- --------- --------- --------- ---------
Business analysis of profit before tax net of restatements
Half-year ended
---------------
2005 31.12.05 30.06.05
GBPm GBPm GBPm
UK Banking 2,200 1,062 1,138
-------- -------- --------
UK Retail Banking 1,040 492 548
UK Business Banking 1,160 570 590
-------- -------- --------
Barclays Capital 1,431 681 750
Barclays Global Investors 540 299 241
Wealth Management 166 82 84
Wealth Management - closed life
assurance (7) (4) (3)
activities
Barclaycard 640 294 346
International Retail and Commercial
Banking 633 459 174
-------- -------- --------
International Retail and Commercial
Banking - ex Absa 335 161 174
International Retail and Commercial
Banking - Absa1 298 298 -
-------- -------- --------
Head office functions and other
operations (323) (283) (40)
-------- -------- --------
Profit before tax 5,280 2,590 2,690
-------- -------- --------
1 Period from 27th July until 31st December 2005.
UK Banking Half-year ended
-----------------------
2005 31.12.05 30.06.05
GBPm GBPm GBPm
Net interest income 3,744 1,960 1,784
Net fee and commission income 1,720 879 841
-------- -------- --------
Net trading income - 2 (2)
Net investment income 26 9 17
-------- -------- --------
Principal transactions 26 11 15
Net premiums from insurance contracts 280 139 141
Other income 33 13 20
-------- -------- --------
Total income 5,803 3,002 2,801
Net claims and benefits on insurance
contracts (58) (25) (33)
-------- -------- --------
Total income net of insurance claims 5,745 2,977 2,768
Impairment charge and other credit
provisions (327) (188) (139)
-------- -------- --------
Net income 5,418 2,789 2,629
-------- -------- --------
Operating expenses excluding amortisation
of intangible assets (3,212) (1,728) (1,484)
Amortisation of intangible assets (3) (2) (1)
-------- -------- --------
Operating expenses (3,215) (1,730) (1,485)
Share of post-tax results of associates and
joint ventures (3) 3 (6)
-------- -------- --------
Profit before tax 2,200 1,062 1,138
-------- -------- --------
Cost:income ratio1 56% 58% 54%
Cost:net income ratio2 59% 62% 57%
Return on average economic capital 33% 33% 33%
Loans and advances to customers GBP118.2bn GBP117.1bn
Customer accounts GBP129.7bn GBP126.8bn
Staff numbers 39,800 40,600
Total assets GBP130.3bn GBP129.1bn
Risk weighted assets GBP79.9bn GBP83.6bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
UK Retail Banking Half-year ended
----------------------------
2005 31.12.05 30.06.05
GBPm GBPm GBPm
Net interest income 2,208 1,158 1,050
Net fee and commission income 1,131 572 559
-------- -------- --------
Net trading income - - -
Net investment income 9 - 9
-------- -------- --------
Principal transactions 9 - 9
Net premiums from insurance contracts 280 139 141
Other income 16 4 12
-------- -------- --------
Total income 3,644 1,873 1,771
Net claims and benefits on insurance
contracts (58) (25) (33)
-------- -------- --------
Total income net of insurance claims 3,586 1,848 1,738
Impairment charge and other credit
provisions (150) (75) (75)
-------- -------- --------
Net income 3,436 1,773 1,663
Operating expenses (2,390) (1,282) (1,108)
Share of post-tax results of
associates and joint ventures (6) 1 (7)
-------- -------- --------
Profit before tax 1,040 492 548
-------- -------- --------
Cost:income ratio1 67% 69% 64%
Cost:net income ratio2 70% 72% 67%
Return on average economic capital 35% 37% 33%
Loans and advances to customers GBP64.8bn GBP66.0bn
Customer accounts GBP78.8bn GBP75.4bn
Staff numbers 32,000 33,000
Total assets GBP70.4bn GBP71.5bn
Risk weighted assets GBP32.8bn GBP37.1bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
UK Business Banking Half-year ended
----------------------------
2005 31.12.05 30.06.05
GBPm GBPm GBPm
Net interest income 1,536 802 734
Net fee and commission income 589 307 282
-------- -------- --------
Net trading income - 2 (2)
Net investment income 17 9 8
-------- -------- --------
Principal transactions 17 11 6
Other income 17 9 8
-------- -------- --------
Total income 2,159 1,129 1,030
Impairment charge and other credit
provisions (177) (113) (64)
-------- -------- --------
Net income 1,982 1,016 966
-------- -------- --------
Operating expenses excluding
amortisation of intangible assets (822) (446) (376)
Amortisation of intangible assets (3) (2) (1)
-------- -------- --------
Operating expenses (825) (448) (377)
Share of post-tax results of
associates and joint ventures 3 2 1
-------- -------- --------
Profit before tax 1,160 570 590
-------- -------- --------
Cost:income ratio1 38% 40% 37%
Cost:net income ratio2 42% 44% 39%
Return on average economic capital 31% 30% 33%
Loans and advances to customers GBP53.4bn GBP51.1bn
Customer accounts GBP50.9bn GBP51.4bn
Staff numbers 7,800 7,600
Total assets GBP59.9bn GBP57.6bn
Risk weighted assets GBP47.1bn GBP46.5bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
Barclays Capital Half-year ended
----------------------------
2005 31.12.05 30.06.05
GBPm GBPm GBPm
Net interest income 1,065 540 525
Net fee and commission income 776 403 373
-------- -------- --------
Net trading income 2,231 1,116 1,115
Net investment income 413 253 160
-------- -------- --------
Principal transactions 2,644 1,369 1,275
Other income 20 12 8
-------- -------- --------
Total income 4,505 2,324 2,181
Impairment charge and other credit
provisions (111) (59) (52)
-------- -------- --------
Net income 4,394 2,265 2,129
-------- -------- --------
Operating expenses excluding
amortisation of intangible assets (2,961) (1,583) (1,378)
Amortisation of intangible assets (2) (1) (1)
-------- -------- --------
Operating expenses (2,963) (1,584) (1,379)
-------- -------- --------
Profit before tax 1,431 681 750
-------- -------- --------
Cost:income ratio1 66% 68% 63%
Cost:net income ratio2 67% 70% 65%
Return on average economic capital 34% 30% 38%
Average net income per member of
staff ('000) GBP498 GBP242 GBP259
Staff numbers 9,900 8,400
Total assets GBP601.2bn GBP573.1bn
Risk weighted assets GBP116.7bn GBP107.2bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
Barclays Global Investors Half-year ended
------------------------
2005 31.12.05 30.06.05
GBPm GBPm GBPm
Net interest income 15 9 6
Net fee and commission income 1,297 727 570
-------- -------- --------
Net trading income 2 - 2
Net investment income 4 - 4
-------- -------- --------
Principal transactions 6 - 6
Other income - - -
-------- -------- --------
Total income 1,318 736 582
-------- -------- --------
Operating expenses excluding amortisation
of intangible assets (775) (435) (340)
Amortisation of intangible assets (4) (2) (2)
-------- -------- --------
Operating expenses (779) (437) (342)
Share of post-tax results of associates
and joint ventures 1 - 1
Profit on disposal of associates and joint
ventures - - -
-------- -------- --------
Profit before tax 540 299 241
-------- -------- --------
Cost:income ratio1 59% 59% 59%
Return on average economic capital 248% 282% 214%
Average income per member of staff ('000) GBP628 GBP330 GBP298
Staff numbers 2,300 2,100
Total assets GBP80.9bn GBP68.9bn
Risk weighted assets GBP1.5bn GBP1.4bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
Wealth Management Half-year ended
-----------------------
2005 31.12.05 30.06.05
GBPm GBPm GBPm
Net interest income 329 169 160
Net fee and commission income 589 306 283
-------- -------- --------
Net trading income - - -
Net investment income 5 - 5
-------- -------- --------
Principal transactions 5 - 5
Other income (1) - (1)
-------- -------- --------
Total income 922 475 447
Impairment charge and other credit
provisions (2) (1) (1)
-------- -------- --------
Net income 920 474 446
-------- -------- --------
Operating expenses excluding
amortisation of intangible assets (752) (391) (361)
Amortisation of intangible assets (2) (1) (1)
-------- -------- --------
Operating expenses (754) (392) (362)
-------- -------- --------
Profit before tax 166 82 84
-------- -------- --------
Cost:income ratio1 82% 83% 81%
Cost:net income ratio2 82% 83% 81%
Return on average economic capital 38% 42% 35%
Loans and advances to customers GBP4.7bn GBP4.4bn
Customer accounts GBP23.1bn GBP22.5bn
Staff numbers 7,200 7,200
Total assets GBP6.1bn GBP5.8bn
Risk weighted assets GBP4.1bn GBP4.5bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
Wealth Management - closed life Half-year ended
assurance activities -----------------------
2005 31.12.05 30.06.05
GBPm GBPm GBPm
Net interest (expense)/income (14) 2 (16)
Net fee and commission income 44 26 18
-------- -------- --------
Net trading income - - -
Net investment income 259 144 115
-------- -------- --------
Principal transactions 259 144 115
Net premiums from insurance
contracts 195 95 100
Other income 11 10 1
-------- -------- --------
Total income 495 277 218
Net claims and benefits on
insurance contracts (375) (208) (167)
-------- -------- --------
Total income net of insurance
claims 120 69 51
Operating expenses (127) (73) (54)
-------- -------- --------
Loss before tax (7) (4) (3)
-------- -------- --------
Return on average economic capital (3)% 11% (18)%
Total assets GBP7.3bn GBP6.7bn
Barclaycard Half-year ended
-----------------------
2005 31.12.05 30.06.05
GBPm GBPm GBPm
Net interest income 1,726 896 830
Net fee and commission income 972 518 454
Net premiums from insurance
contracts 24 14 10
-------- -------- -------
Total income 2,722 1,428 1,294
Net claims and benefits on insurance
contracts (7) (5) (2)
-------- -------- -------
Total income net of insurance claims 2,715 1,423 1,292
Impairment charge and other credit
provisions (1,098) (590) (508)
-------- -------- -------
Net income 1,617 833 784
-------- -------- -------
Operating expenses excluding
amortisation of intangible assets (961) (531) (430)
Amortisation of intangible assets (17) (8) (9)
-------- -------- -------
Operating expenses (978) (539) (439)
Share of post-tax results of
associates and joint ventures 1 - 1
-------- -------- -------
Profit before tax 640 294 346
-------- -------- -------
Cost:income ratio1 36% 38% 34%
Cost:net income ratio2 60% 65% 56%
Return on average economic capital 16% 14% 18%
Loans and advances to customers GBP24.0bn GBP23.1bn
Staff numbers 7,800 7,200
Total assets GBP25.8bn GBP24.2bn
Risk weighted assets GBP21.8bn GBP21.3bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
International Retail and Commercial Half-year ended
Banking -----------------------
2005 31.12.05 30.06.05
GBPm GBPm GBPm
Net interest income 1,050 776 274
Net fee and commission income 705 534 171
-------- -------- --------
Net trading income 3 (3) 6
Net investment income 143 76 67
-------- -------- --------
Principal transactions 146 73 73
Net premiums from insurance
contracts 227 167 60
Other income 60 46 14
-------- -------- --------
Total income 2,188 1,596 592
Net claims and benefits on
insurance contracts (205) (120) (85)
-------- -------- --------
Total income net of insurance
claims 1,983 1,476 507
Impairment charge and other credit
provisions (32) (24) (8)
-------- -------- --------
Net income 1,951 1,452 499
-------- -------- --------
Operating expenses excluding
amortisation of intangible assets (1,317) (974) (343)
Amortisation of intangible assets (47) (45) (2)
-------- -------- --------
Operating expenses (1,364) (1,019) (345)
Share of post-tax results of
associates and joint ventures 46 26 20
-------- -------- --------
Profit before tax 633 459 174
-------- -------- --------
Cost:income ratio1 69% 69% 68%
Cost:net income ratio2 70% 70% 69%
Return on average economic capital 23% 24% 22%
Loans and advances to customers GBP49.3bn GBP21.7bn
Customer accounts GBP22.6bn GBP9.6bn
Staff numbers 45,400 12,400
Total assets GBP63.6bn GBP30.0bn
Risk weighted assets GBP41.2bn GBP18.9bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
International Retail and Commercial Half-year ended
Banking - excluding Absa -----------------------
2005 31.12.05 30.06.05
GBPm GBPm GBPm
Net interest income 562 288 274
Net fee and commission income 377 206 171
-------- -------- --------
Net trading income 31 25 6
Net investment income 88 21 67
-------- -------- --------
Principal transactions 119 46 73
Net premiums from insurance
contracts 129 69 60
Other income 23 9 14
-------- -------- --------
Total income 1,210 618 592
Net claims and benefits on
insurance contracts (161) (76) (85)
-------- -------- --------
Total income net of insurance
claims 1,049 542 507
Impairment charge and other credit
provisions (13) (5) (8)
-------- -------- --------
Net income 1,036 537 499
-------- -------- --------
Operating expenses excluding
amortisation of intangible assets (734) (391) (343)
Amortisation of intangible assets (6) (4) (2)
-------- -------- --------
Operating expenses (740) (395) (345)
Share of post-tax results of
associates and joint ventures 39 19 20
-------- -------- --------
Profit before tax 335 161 174
-------- -------- --------
Cost:income ratio1 71% 73% 68%
Cost:net income ratio2 71% 74% 69%
Return on average economic capital 20% 17% 22%
Loans and advances to customers GBP25.4bn GBP21.7bn
Customer accounts GBP10.4bn GBP9.6bn
Staff numbers 12,700 12,400
Total assets GBP34.2bn GBP30.0bn
Risk weighted assets GBP20.4bn GBP18.9bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
International Retail and Commercial Banking - Absa
Period from
27th July until
31st December
2005
GBPm
Net interest income 488
Net fee and commission income 328
--------
Net trading income (28)
Net investment income 55
--------
Principal transactions 27
Net premiums from insurance contracts 98
Other income 37
--------
Total income 978
Net claims and benefits on insurance contracts (44)
--------
Total income net of insurance claims 934
Impairment charge and other credit provisions (19)
--------
Net income 915
--------
Operating expenses excluding amortisation of intangible assets (583)
Amortisation of intangible assets (41)
--------
Operating expenses (624)
Share of post-tax results of associates and joint ventures 7
--------
Profit before tax 298
--------
Cost:income ratio1 67%
Cost:net income ratio2 68%
Return on average economic capital 36%
Loans and advances to customers GBP23.9bn
Customer accounts GBP12.2bn
Staff numbers 32,700
Total assets GBP29.4bn
Risk weighted assets GBP20.8bn
1 The cost:income ratio is defined as operating expenses compared to total
income net of insurance claims.
2 The cost:net income ratio is defined as operating expenses compared to total
income net of insurance claims, less impairment charges.
Head office functions and Half-year ended
other operations ----------------------------
2005 31.12.05 30.06.05
GBPm GBPm GBPm
Net interest (expense)/income 160 23 137
Net fee and commission expense (398) (228) (170)
-------- -------- --------
Net trading income 85 30 55
Net investment income 8 3 5
-------- -------- --------
Principal transactions 93 33 60
Net premiums from insurance
contracts 146 86 60
Other income 24 17 7
-------- -------- --------
Total income 25 (69) 94
Impairment release/(charge)
and other credit provisions (1) (3) 2
-------- -------- --------
Net income/(loss) 24 (72) 96
-------- -------- --------
Operating expenses excluding
amortisation of intangible
assets (343) (208) (135)
Amortisation of intangible
assets (4) (3) (1)
-------- -------- --------
Operating expenses (347) (211) (136)
-------- -------- --------
Loss before tax (323) (283) (40)
-------- -------- --------
Staff numbers 900 900
Total assets GBP9.3bn GBP12.4bn
Risk weighted assets GBP4.0bn GBP5.6bn
Restated business margins
Margin
Full-year Half-year Full-year
31.12.05 30.06.05 31.12.04
% % %
UK Retail Banking assets 0.92 0.83 0.78
UK Retail Banking liabilities 1.99 2.01 2.14
UK Business Banking assets 1.87 1.87 1.56
UK Business Banking liabilities 1.46 1.54 1.58
Wealth Management assets 0.99 0.98 0.97
Wealth Management liabilities 1.04 1.06 1.07
Barclaycard assets 6.59 6.48 6.84
------- ------- -------
Barclaycard assets - cards 7.96 7.56 7.34
Barclaycard assets - loans 4.96 5.15 6.27
------- ------- -------
International Retail and Commercial
Banking assets-ex Absa 1.51 1.42 1.75
International Retail and Commercial
Banking liabilities-ex Absa 1.49 1.54 1.43
International Retail and Commercial
Banking assets-Absa1 1.97 - -
International Retail and Commercial
Banking liabilities-Absa1 1.89 - -
Average balances
Full-year Half-year Full-year
31.12.05 30.06.05 31.12.04
GBPm GBPm GBPm
UK Retail Banking assets 66,165 66,511 65,539
UK Retail Banking liabilities 73,473 72,072 69,653
UK Business Banking assets 43,985 42,059 36,764
UK Business Banking liabilities 40,545 39,234 37,442
Wealth Management assets 4,395 4,229 3,580
Wealth Management liabilities 23,430 22,603 21,141
Barclaycard assets 24,246 23,759 21,609
------- ------- -------
Barclaycard assets - cards 13,180 13,126 11,560
Barclaycard assets - loans 11,066 10,633 10,049
------- ------- -------
International Retail and Commercial
Banking assets-ex Absa 22,889 22,327 17,884
International Retail and Commercial
Banking liabilities-ex Absa 9,540 9,633 8,987
International Retail and Commercial
Banking assets-Absa1 24,134 - -
International Retail and Commercial
Banking liabilities-Absa1 16,791 - -
Business assets total average balance 185,814 158,885 145,376
Business liabilities total average balance 163,779 143,542 137,223
1 This reflects the five month post acquisition period on an annualised basis.
Restated business net interest income
Full-year Half-year Full-year
31.12.05 30.06.05 31.12.04
GBPm GBPm GBPm
UK Retail Banking assets 609 273 510
UK Retail Banking liabilities 1,462 718 1,493
UK Business Banking assets 823 390 574
UK Business Banking liabilities 592 300 590
Wealth Management assets 43 21 35
Wealth Management liabilities 244 120 227
Barclaycard assets 1,598 770 1,478
------- ------- -------
Barclaycard assets - cards 1,049 496 848
Barclaycard assets - loans 549 274 630
------- ------- -------
International Retail and Commercial
Banking assets-ex Absa 345 159 314
International Retail and Commercial
Banking liabilities-ex Absa 142 74 128
International Retail and Commercial
Banking assets-Absa1 206 - -
International Retail and Commercial
Banking liabilities-Absa1 138 - -
Business assets total net interest income 3,624 1,613 2,911
Business liabilities total net interest
income 2,578 1,212 2,438
------- ------- -------
Business net interest income 6,202 2,825 5,349
------- ------- -------
Restated reconciliation of business net interest income to Group net interest
income
Full-year Half-year Full-year
31.12.05 30.06.05 31.12.04
GBPm GBPm GBPm
Business net interest income 6,202 2,825 5,349
Other:
- Barclays Capital 1,065 525 1,068
- Barclays Global Investors 15 6 5
- Other 793 344 411
------- ------- -------
Group net interest income 8,075 3,700 6,833
------- ------- -------
Business net interest income is derived from the interest rate earned on average
assets or paid on average liabilities relative to the average Bank of England
base rate, local equivalents for international businesses or the rate managed by
the bank using derivatives. The margin is expressed as annualised business
interest income over the relevant average balance. Asset and liability margins
cannot be added together as they are relative to the average Bank of England
base rate, local equivalent for international businesses or the rate managed by
the bank using derivatives.
Average balances are calculated on daily averages for most UK banking operations
and monthly averages elsewhere.
Within the reconciliation of Group net interest income, there is an amount
captured as Other. This relates to: benefit of capital, including the
restatement of Reserve Capital Instruments and other capital instruments; Head
office functions and other operations; net funding on non customer assets and
liabilities; and Wealth Management - closed life assurance activities.
1 Period from 27th July until 31st December 2005.
Restated Risk Tendency
2005 2005 2004
31.12.05 30.06.05 31.12.04
GBPm GBPm GBPm
UK Banking 430 400 360
-------- -------- --------
UK Retail Banking 180 170 160
UK Business Banking 250 230 200
-------- -------- --------
Barclays Capital 110 80 75
Wealth Management 5 5 5
Barclaycard 1,100 980 860
International Retail and Commercial
Banking 175 75 65
-------- -------- --------
International Retail and Commercial
Banking - ex Absa 75 75 65
International Retail and Commercial
Banking - Absa 100 - -
-------- -------- --------
Head office functions and other
operations1 25 35 30
-------- -------- --------
Risk Tendency 1,845 1,575 1,395
-------- -------- --------
1 Comprises businesses in transition.
Restated total assets
31.12.05 30.06.05 31.12.04
GBPm GBPm GBPm
UK Banking 130,304 129,093 114,934
-------- -------- --------
UK Retail Banking 70,389 71,476 72,768
UK Business Banking 59,915 57,617 42,166
-------- -------- --------
Barclays Capital 601,193 573,131 353,246
Barclays Global Investors 80,900 68,877 968
Wealth Management 6,094 5,843 5,616
Wealth Management - closed life assurance
activities 7,276 6,653 6,425
Barclaycard 25,771 24,166 23,367
International Retail and Commercial
Banking 63,556 29,985 28,505
-------- -------- --------
International Retail and Commercial
Banking - ex Absa 34,195 29,985 28,505
International Retail and Commercial
Banking - Absa 29,361 - -
-------- -------- --------
Head office functions and other operations 9,263 12,375 5,120
-------- -------- --------
Total assets 924,357 850,123 538,181
-------- -------- --------
Restated risk weighted assets
31.12.05 30.06.05 31.12.04
GBPm GBPm GBPm
UK Banking 79,929 83,554 80,467
-------- -------- --------
UK Retail Banking 32,803 37,129 38,230
UK Business Banking 47,126 46,425 42,237
-------- -------- --------
Barclays Capital 116,677 107,201 90,078
Barclays Global Investors 1,456 1,408 1,230
Wealth Management 4,061 4,457 4,018
Wealth Management - closed life assurance
activities - - -
Barclaycard 21,752 21,335 20,188
International Retail and Commercial Banking 41,228 18,900 19,319
-------- -------- --------
International Retail and Commercial Banking
- ex Absa 20,394 18,900 19,319
International Retail and Commercial Banking
- Absa 20,834 - -
-------- -------- --------
Head office functions and other operations 4,045 5,551 3,301
-------- -------- --------
Risk weighted assets 269,148 242,406 218,601
-------- -------- --------
Restated economic capital demand1
31.12.05 30.06.05 31.12.04
GBPm GBPm GBPm
UK Banking 4,950 4,800 4,350
-------- -------- --------
UK Retail Banking 2,350 2,300 2,250
UK Business Banking 2,600 2,500 2,100
-------- -------- --------
Barclays Capital2 2,900 2,700 2,350
Barclays Global Investors 150 150 150
Wealth Management 400 400 300
Wealth Management - closed life assurance
activities 50 50 100
Barclaycard 2,800 2,650 2,450
International Retail and Commercial Banking 1,450 1,100 1,000
-------- -------- --------
International Retail and Commercial Banking
- ex Absa 1,150 1,100 1,000
International Retail and Commercial Banking
- Absa2 300 - -
-------- -------- --------
Head office functions and other operations3 300 250 250
-------- -------- --------
Business unit economic capital 13,000 12,100 10,950
Capital held at Group centre4 1,050 1,600 1,400
-------- -------- --------
Economic capital requirement (excluding
goodwill) 14,050 13,700 12,350
Average historic goodwill and intangible
assets5 6,450 5,800 5,600
-------- -------- --------
Total economic capital requirement6 20,500 19,500 17,950
-------- -------- --------
1 Year-end economic capital is calculated using a five point average over the
year. For the half-year a three point average is used.
2 Average economic capital demand for Absa relates to 5 months of 2005. As at
31st December 2005 the capital demand amounted to GBP950m.
3 Includes businesses in transition and capital for Head office and central
support functions.
4 The Group's practice is to maintain an appropriate level of excess capital,
held at Group centre, which is not allocated to business units. This variance
arises as a result of capital management timing and includes capital held to
cover pension contribution risk.
5 Average goodwill relates to purchased goodwill and intangible assets from
business acquisitions. Absa goodwill is included for 5 months of 2005. As at
31st December 2005 Absa goodwill and intangibles amounted to GBP1.8bn and total
goodwill and intangibles was GBP7.9bn.
6 Total period-end economic capital requirement as at 31st December 2005 stood
at GBP21,850m (30th June 2005: GBP20,750m; 31st December 2004: GBP18,700m).
Restated economic profit generated by Full-year Half-year Full-year
business 31.12.05 30.06.05 31.12.04
GBPm GBPm GBPm
UK Banking 1,130 553 1,086
-------- -------- --------
UK Retail Banking 586 270 508
UK Business Banking 544 283 578
-------- -------- --------
Barclays Capital 706 383 587
Barclays Global Investors 299 129 195
Wealth Management 109 49 70
Wealth Management - closed life assurance
activities (7) (8) (77)
Barclaycard 183 115 350
International Retail and Commercial
Banking 229 70 111
-------- -------- --------
International Retail and Commercial
Banking - ex Absa 115 70 111
International Retail and Commercial
Banking - Absa1 114 - -
-------- -------- --------
Head office functions and other operations (364) (17) (140)
-------- -------- --------
2,285 1,274 2,182
Historic goodwill (615) (275) (533)
Variance to average shareholders' funds
(excluding minority interest) 82 5 (81)
-------- -------- --------
Economic profit 1,752 1,004 1,568
-------- -------- --------
1 Period from 17th July to 31st December 2005.
Restated staff numbers
31.12.05 30.06.05 31.12.04
UK Banking 39,800 40,600 41,700
-------- -------- --------
UK Retail Banking 32,000 33,000 34,500
UK Business Banking 7,800 7,600 7,200
-------- -------- --------
Barclays Capital 9,900 8,400 7,900
Barclays Global Investors 2,300 2,100 1,900
Wealth Management 7,200 7,200 7,200
Barclaycard 7,800 7,200 6,700
International Retail and Commercial Banking 45,400 12,400 12,100
-------- -------- --------
International Retail and Commercial Banking
- ex Absa 12,700 12,400 12,100
International Retail and Commercial Banking
- Absa 32,700 - -
-------- -------- --------
Head office functions and other operations 900 900 900
-------- -------- --------
Total Group permanent and fixed term
contract staff worldwide 113,300 78,800 78,400
-------- -------- --------
Agency staff worldwide 7,000 4,300 4,300
-------- -------- --------
Total including agency staff 120,300 83,100 82,700
-------- -------- --------
- ENDS -