Segmental analysis (audited)

All disclosures in this section are unaudited unless otherwise stated

 
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Analysis of results by business (audited)

UK
RBB
£m

Europe RBB
£m

Africa RBB
£m

Barclay- card
£m

Barclays Capital
£m

Barclays Corpo- rate
£m

Barclays Wealth
£m

Invest- ment Mana- gement
£m

Head Office Func- tions and Other Opera- tions
£m

Total
£m

Notes

a

The impact of own credit movements in the fair value of structured note issuance of £2,708m (2010: £391m; 2009: loss of £1,820m) is now included within the results of Head Office Functions and Other Operations, rather than Barclays Capital. This reflects the fact that these fair value movements relate to the credit worthiness of the issuer as a whole, rather than Barclays Capital in particular, and are not included within any assessment of Barclays Capital’s underlying performance. Furthermore, delays to planned changes in accounting standards will mean own credit movements are likely to continue to be reflected in the income statement for the foreseeable future.

b

The UK bank levy of £325m (2010: £nil, 2009: £nil) is reported under Head Office and Other Operations.

c

The provision for PPI redress of £1,000m is reported under UK RBB £400m (2010: £nil, 2009: £nil) and Barclaycard £600m (2010: £nil, 2009: £nil).

d

The impairment of goodwill of £597m (2010: £243m, 2009: £1m) relates to Europe RBB £427m (2010: £nil, 2009: £nil), Barclays Corporate £123m (2010: £243m, 2009: £1m) and Barclaycard £47m (2010: £nil, 2009: £nil).

e

Other income/(losses) represents: share of post-tax results of associates and joint ventures; profit or (loss) on disposal of subsidiaries, associates and joint ventures; and gains on acquisitions.

As at 31 December 2011

 

 

 

 

 

 

 

 

 

 

Total income net of insurance claimsa

4,656

1,226

3,767

4,095

10,335

2,912

1,744

53

3,504

32,292

Credit impairment charges and other provisions

(536)

(261)

(464)

(1,259)

(93)

(1,149)

(41)

–

1

(3,802)

Impairment of investment in BlackRock, inc.

–

–

–

–

–

–

–

(1,800)

–

(1,800)

Operating expensesb,c,d

(3,102)

(1,638)

(2,399)

(2,306)

(7,289)

(1,762)

(1,493)

(15)

(773)

(20,777)

Other income/(losses)e

2

12

6

31

12

(71)

(3)

–

(23)

(34)

Profit/(loss) before tax from continuing operations

1,020

(661)

910

561

2,965

(70)

207

(1,762)

2,709

5,879

Total assets

127,845

51,310

50,759

33,838

1,158,350

88,674

20,866

4,066

27,819

1,563,527

As at 31 December 2010

 

 

 

 

 

 

 

 

 

 

Total income net of insurance claimsa

4,518

1,164

3,700

4,024

13,209

2,974

1,560

78

213

31,440

Credit impairment charges and other provisions

(819)

(314)

(562)

(1,688)

(543)

(1,696)

(48)

–

(2)

(5,672)

Operating expensesb,c,d

(2,809)

(1,033)

(2,418)

(1,570)

(8,295)

(1,907)

(1,349)

(11)

(579)

(19,971)

Other income/(losses)e

99

44

84

25

18

(2)

–

–

–

268

Profit/(loss) before tax from continuing operations

989

(139)

804

791

4,389

(631)

163

67

(368)

6,065

Total assets

121,590

53,609

60,264

30,324

1,094,799

85,735

17,849

4,612

20,863

1,489,645

As at 31 December 2009

 

 

 

 

 

 

 

 

 

 

Total income net of insurance claimsa

4,276

1,318

3,292

4,041

13,445

3,181

1,322

40

(1,792)

29,123

Credit impairment charges and other provisions

(1,031)

(338)

(688)

(1,798)

(2,591)

(1,558)

(51)

–

(16)

(8,071)

Operating expensesb,c,d

(2,538)

(887)

(1,989)

(1,527)

(6,592)

(1,466)

(1,129)

(17)

(570)

(16,715)

Other income/(losses)e

3

187

17

11

22

–

1

(1)

8

248

Profit/(loss) before tax from continuing operations

710

280

632

727

4,284

157

143

22

(2,370)

4,585

Total assets

109,327

51,027

53,658

30,274

1,019,120

88,798

14,889

5,406

6,430

1,378,929

Since 1 January 2011 the Group’s activities have been organised under the following business groupings:

  • UK Retail and Business Banking (UK RBB) is a leading UK high street bank providing current account and savings products and Woolwich branded mortgages. UK RBB also provides unsecured loans and general insurance as well as banking and money transmission services to small and medium sized businesses. UK RBB was previously named UK Retail Banking;
  • Europe Retail and Business Banking (Europe RBB) provides retail services, including credit cards in Spain, Italy, Portugal and France, as well as business lending to small and medium sized enterprises, through a variety of distribution channels. Europe RBB was previously named Western Europe Retail Banking;
  • Africa Retail and Business Banking (Africa RBB) provides retail, corporate and credit card services across Africa and the Indian Ocean. Africa RBB combines the operations previously reported as Barclays Africa and Absa;
  • Barclaycard is an international payments services provider for consumer and business customers including credit cards and consumer lending;
  • Barclays Capital is the investment banking division of Barclays providing large corporate, government and institutional clients with a full spectrum of solutions to meet their strategic advisory, financing and risk management needs;
  • Barclays Corporate provides integrated banking solutions to large corporates, financial institutions and multinationals in the UK and internationally;
  • Barclays Wealth is the wealth management division of Barclays. It focuses on private and intermediary clients worldwide, providing international and private banking, investment management, fiduciary services and brokerage;
  • Investment Management manages the Group’s economic interest in BlackRock, Inc. and the residual elements relating to Barclays Global Investors, which was sold on 1 December 2009; and
  • Head Office Functions and Other Operations comprise head office and central support functions, businesses in transition and consolidation adjustments.
 
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Income by Geographic Regiona,b
(audited)

2011
£m

2010
£m

2009
£m

Notes

a

Total income net of insurance claims based on counterparty location.

b

The geographical regions have been revised since January 2011, Ireland is now included within the Europe and Middle East is now reported with Africa. Comparatives have been updated to reflect these changes.

UK

15,819

12,714

12,850

Europe

4,207

4,828

4,455

Americas

6,025

7,742

6,531

Africa and Middle East

4,967

4,997

4,390

Asia

1,274

1,159

897

Total

32,292

31,440

29,123

In 2009, discontinued operations of the Barclays Global Investors business included £432m relating to UK, £1,084m relating to the Americas and £347m relating to other geographic segments.

 
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Income from individual countries which represent more than 5% of total incomea (audited)

2011
£m

2010
£m

2009
£m

Notes

a

Total income net of insurance claims based on counterparty location.

UK

15,819

12,714

12,850

US

5,802

7,172

5,547

South Africa

3,942

3,684

2,980

Returns and equity by business

Returns on average equity and average tangible equity are calculated using profit after tax and non-controlling interests for the period, divided by average allocated equity or tangible equity as appropriate.

Average allocated equity has been calculated as 10% (previously 9% in 2010 and 8% in 2009) of average risk weighted assets for each business, reflecting the planning assumptions the Group uses for capital purposes, adjusted for capital deductions, including goodwill and intangible assets. The higher level of capital currently held, reflecting the current Core Tier 1 capital ratio of 11.0%, is allocated to Head Office Functions and Other Operations. The Group return on average risk weighted assets was 1.0% (2010: 1.1%, 2009: 0.9%). Average allocated tangible equity is calculated using the same method as average allocated equity but excludes goodwill and intangible assets.

Comparatives throughout this document have been calculated based on 10% of risk weighted assets.

 
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Adjusteda

Statutory

Return on Average Equity

2011
%

2010
%

2009
%

2011
%

2010
%

2009
%

Notes

a

Adjusted performance measures exclude the impact of own credit gains, gains on debt buy-backs, loss on disposal of a portion of the Group’s strategic investment in BlackRock, Inc., impairment of investment in BlackRock, Inc., provision for PPI redress, goodwill impairment and loss/gain on acquisitions and disposals.

b

The return on average tangible equity for Africa RBB is calculated based on average tangible equity including amounts relating to Absa Groups’s non-controlling interests.

c

Includes risk weighted assets and capital deductions in Head Office Functions and Other Operations, plus the residual balance of average shareholders’ equity and tangible equity.

UK RBB

14.9

9.9

7.5

10.6

11.4

7.5

Europe RBB

(6.0)

(1.0)

2.6

(21.8)

(0.2)

8.4

Africa RBB

10.0

9.0

6.8

10.0

11.5

7.6

Barclaycard

17.4

12.5

11.9

6.8

12.5

11.9

Barclays Capital

10.4

13.5

13.3

10.4

13.5

13.3

Barclays Corporate

1.3

(4.1)

0.7

(1.4)

(7.1)

1.4

Barclays Wealth

10.9

8.8

7.6

10.9

8.8

7.7

Investment Management

24.1

6.5

nm

nm

6.5

nm

Group excluding Head Office Functions and Other Operations

9.5

8.8

9.1

2.5

8.7

9.5

Head Office Functions and Other Operations impact

(2.9)

(2.0)

(2.2)

3.3

(1.5)

(2.8)

Group

6.6

6.8

6.9

5.8

7.2

6.7

 

 

 

 

 

 

 

 

Adjusteda

Statutory

Return on Average Tangible Equity

2011
%

2010
%

2009
%

2011
%

2010
%

2009
%

UK RBB

28.6

18.7

14.1

20.3

21.4

14.1

Europe RBB

(7.9)

(1.3)

3.4

(29.0)

(0.2)

11.0

Africa RBBb

16.6

15.9

15.4

16.7

18.2

16.2

Barclaycard

23.0

16.9

16.5

9.0

16.9

16.6

Barclays Capital

10.8

14.1

14.0

10.8

14.1

14.0

Barclays Corporate

1.4

(4.4)

0.8

(1.5)

(7.7)

1.5

Barclays Wealth

15.0

12.3

10.9

15.0

12.3

11.0

Investment Management

24.1

6.5

nm

nm

6.5

nm

Group excluding Head Office Functions and Other Operations

11.6

10.7

11.1

3.6

10.6

11.7

Head Office Functions and Other Operations impact

(3.7)

(2.5)

(1.8)

3.3

(1.9)

(2.7)

Group

7.9

8.2

9.3

6.9

8.7

9.0

 

 

 

 

 

 

 

 

Average Equity

Average Tangible Equity

 

2011
£m

2010
£m

2009
£m

2011
£m

2010
£m

2009
£m

UK RBB

6,821

6,954

6,979

3,562

3,694

3,686

Europe RBB

2,703

2,506

2,506

2,032

1,844

1,906

Africa RBB

2,866

2,750

2,624

1,064

908

1,012

Barclaycard

4,634

4,263

3,955

3,503

3,149

2,848

Barclays Capital

20,501

22,122

22,285

19,750

21,176

21,193

Barclays Corporate

7,208

8,034

8,617

6,928

7,473

8,102

Barclays Wealth

1,724

1,647

1,575

1,259

1,179

1,107

Investment Management

359

585

9

359

585

9

Head Office Functions and Other Operationsc

4,997

976

(9,105)

4,994

975

(10,521)

Group

51,813

49,837

39,445

43,451

40,983

29,342

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